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Financing Receivables (Tables)

3 Months Ended

Oct. 30, 2021

Receivables [Abstract]

Summary of Financing Receivables

A summary of our financing receivables is presented as follows (in millions):

October 30, 2021			Lease Receivables						Loan Receivables						Financed Service Contracts						Total
Gross			$	1,560					$	4,809					$	2,329					$	8,698
Residual value			97						—						—						97
Unearned income			(70)						—						—						(70)
Allowance for credit loss			(33)						(74)						(2)						(109)
Total, net			$	1,554					$	4,735					$	2,327					$	8,616
Reported as:
Current			$	736					$	2,198					$	1,136					$	4,070
Noncurrent			818						2,537						1,191						4,546
Total, net			$	1,554					$	4,735					$	2,327					$	8,616

July 31, 2021			Lease Receivables						Loan Receivables						Financed Service Contracts						Total
Gross			$	1,710					$	5,203					$	2,453					$	9,366
Residual value			103						—						—						103
Unearned income			(78)						—						—						(78)
Allowance for credit loss			(38)						(86)						(3)						(127)
Total, net			$	1,697					$	5,117					$	2,450					$	9,264
Reported as:
Current			$	780					$	2,372					$	1,228					$	4,380
Noncurrent			917						2,745						1,222						4,884
Total, net			$	1,697					$	5,117					$	2,450					$	9,264

Schedule of Financing Receivables by Internal Credit Risk Rating by Period of Origination

Gross financing receivables(1) categorized by our internal credit risk rating by period of origination as of October 30, 2021 and July 31, 2021 are summarized as follows (in millions):

									Fiscal Year																								Three Months Ended
Internal Credit Risk Rating			Prior						July 28, 2018						July 27, 2019						July 25, 2020						July 31, 2021						October 30, 2021						Total
Lease Receivables:
1 to 4			$	11					$	75					$	134					$	204					$	244					$	58					$	726
5 to 6			10						44						141						258						247						15						715
7 and Higher			1						4						9						19						4						12						49
Total Lease Receivables			$	22					$	123					$	284					$	481					$	495					$	85					$	1,490
Loan Receivables:
1 to 4			$	27					$	108					$	265					$	733					$	1,299					$	503					$	2,935
5 to 6			11						55						170						439						764						307						1,746
7 and Higher			2						3						41						40						28						14						128
Total Loan Receivables			$	40					$	166					$	476					$	1,212					$	2,091					$	824					$	4,809
Financed Service Contracts:
1 to 4			$	3					$	20					$	85					$	189					$	824					$	334					$	1,455
5 to 6			3						19						90						257						370						116						855
7 and Higher			—						1						4						7						4						3						19
Total Financed Service Contracts			$	6					$	40					$	179					$	453					$	1,198					$	453					$	2,329
Total			$	68					$	329					$	939					$	2,146					$	3,784					$	1,362					$	8,628

									Fiscal Year
Internal Credit Risk Rating			Prior						July 29, 2017						July 28, 2018						July 27, 2019						July 25, 2020						July 31, 2021						Total
Lease Receivables:
1 to 4			$	2					$	20					$	100					$	168					$	282					$	227					$	799
5 to 6			1						17						65						187						285						231						786
7 and Higher			—						2						6						12						23						4						47
Total Lease Receivables			$	3					$	39					$	171					$	367					$	590					$	462					$	1,632
Loan Receivables:
1 to 4			$	4					$	86					$	134					$	577					$	990					$	1,552					$	3,343
5 to 6			—						19						75						202						505						925						1,726
7 and Higher			1						2						4						50						43						34						134
Total Loan Receivables			$	5					$	107					$	213					$	829					$	1,538					$	2,511					$	5,203
Financed Service Contracts:
1 to 4			$	—					$	38					$	26					$	106					$	252					$	1,053					$	1,475
5 to 6			—						6						26						105						302						520						959
7 and Higher			—						—						1						6						7						5						19
Total Financed Service Contracts			$	—					$	44					$	53					$	217					$	561					$	1,578					$	2,453
Total			$	8					$	190					$	437					$	1,413					$	2,689					$	4,551					$	9,288

(1) Lease receivables calculated as gross lease receivables less unearned income.

Schedule of Aging Analysis of Financing Receivables

The following tables present the aging analysis of gross receivables as of October 30, 2021 and July 31, 2021 (in millions):

			DAYS PAST DUE (INCLUDES BILLED AND UNBILLED)
October 30, 2021			31-60						61-90						91+						Total Past Due						Current						Total						120+ Still Accruing						Nonaccrual Financing Receivables						Impaired Financing Receivables
Lease receivables			$	34					$	12					$	22					$	68					$	1,422					$	1,490					$	8					$	24					$	24
Loan receivables			77						17						27						121						4,688						4,809						6						29						29
Financed service contracts			21						39						18						78						2,251						2,329						4						3						3
Total			$	132					$	68					$	67					$	267					$	8,361					$	8,628					$	18					$	56					$	56

			DAYS PAST DUE (INCLUDES BILLED AND UNBILLED)
July 31, 2021			31-60						61-90						91+						Total Past Due						Current						Total						120+ Still Accruing						Nonaccrual Financing Receivables						Impaired Financing Receivables
Lease receivables			$	21					$	17					$	29					$	67					$	1,565					$	1,632					$	1					$	33					$	26
Loan receivables			71						17						35						123						5,080						5,203						4						33						33
Financed service contracts			18						13						18						49						2,404						2,453						3						3						3
Total			$	110					$	47					$	82					$	239					$	9,049					$	9,288					$	8					$	69					$	62

Schedule of Allowance for Credit Loss and Related Financing Receivables

The allowances for credit loss and the related financing receivables are summarized as follows (in millions):

Three months ended October 30, 2021			CREDIT LOSS ALLOWANCES
			Lease Receivables						Loan Receivables						Financed Service Contracts						Total
Allowance for credit loss as of July 31, 2021			$	38					$	86					$	3					$	127
Provisions (benefits)			(5)						(12)						(1)						(18)
Allowance for credit loss as of October 30, 2021			$	33					$	74					$	2					$	109

Three months ended October 24, 2020			CREDIT LOSS ALLOWANCES
			Lease Receivables						Loan Receivables						Financed Service Contracts						Total
Allowance for credit loss as of July 25, 2020			$	48					$	81					$	9					$	138
Provisions (benefits)			(3)						3						(1)						(1)
Other			1						17						(1)						17
Allowance for credit loss as of October 24, 2020			$	46					$	101					$	7					$	154

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Tabular disclosure of allowance for credit loss on financing receivable.

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Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

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Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

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