XML 32 R17.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Leases | 3 Months Ended
--- | ---
Oct. 29, 2022
Leases [Abstract] |
Leases | Leases (a)Lessee Arrangements The following table presents our operating lease balances (in millions):
| Balance Sheet Line Item |  | October 29, 2022 |  | July 30, 2022
Operating lease right-of-use assets | Other assets |  | $ | 929 |  |  | $ | 1,003 |
Operating lease liabilities | Other current liabilities |  | $ | 308 |  |  | $ | 322 |
Operating lease liabilities | Other long-term liabilities |  | 667 |  |  | 724 |
Total operating lease liabilities |  |  | $ | 975 |  |  | $ | 1,046 |
The components of our lease expenses were as follows (in millions):
| Three Months Ended
| October 29, 2022 |  | October 30, 2021
Operating lease expense | $ | 96 |  |  | $ | 95 |
Short-term lease expense | 17 |  |  | 17 |
Variable lease expense | 58 |  |  | 49 |
Total lease expense | $ | 171 |  |  | $ | 161 |
Supplemental information related to our operating leases is as follows (in millions):
| Three Months Ended
| October 29, 2022 |  | October 30, 2021
Cash paid for amounts included in the measurement of lease liabilities — operating cash flows | $ | 96 |  |  | $ | 98 |
Right-of-use assets obtained in exchange for operating leases liabilities | $ | 35 |  |  | $ | 120 |
The weighted-average lease term was 4.6 years and 4.7 years as of October 29, 2022 and July 30, 2022, respectively. The weighted-average discount rate was 2.3% and 2.2% as of October 29, 2022 and July 30, 2022, respectively. The maturities of our operating leases (undiscounted) as of October 29, 2022 are as follows (in millions):
Fiscal Year | Amount
2023 (remaining nine months) | $ | 254 |
2024 | 262 |
2025 | 183 |
2026 | 106 |
2027 | 63 |
Thereafter | 181 |
Total lease payments | 1,049 |
Less interest | (74) |
Total | $ | 975 |
(b)Lessor Arrangements Our leases primarily represent sales-type leases with terms of four years on average. We provide leasing of our equipment and complementary third-party products primarily through our channel partners and distributors, for which the income arising from these leases is recognized through interest income. Interest income was $12 million and $15 million for the first quarter of fiscal 2023 and 2022, respectively, and was included in interest income in the Consolidated Statement of Operations. The net investment of our lease receivables is measured at the commencement date as the gross lease receivable, residual value less unearned income and allowance for credit loss. For additional information, see Note 9. Future minimum lease payments on our lease receivables as of October 29, 2022 are summarized as follows (in millions):
Fiscal Year | Amount
2023 (remaining nine months) | $ | 461 |
2024 | 329 |
2025 | 182 |
2026 | 90 |
2027 | 63 |
Thereafter | 4 |
Total | 1,129 |
Less: Present value of lease payments | 1,074 |
Unearned income | $ | 55 |
Actual cash collections may differ from the contractual maturities due to early customer buyouts, refinancings, or defaults. We provide financing of certain equipment through operating leases, and the amounts are included in property and equipment in the Consolidated Balance Sheets. Amounts relating to equipment on operating lease assets held by us and the associated accumulated depreciation are summarized as follows (in millions):
| October 29, 2022 |  | July 30, 2022
Operating lease assets | $ | 161 |  |  | $ | 185 |
Accumulated depreciation | (97) |  |  | (111) |
Operating lease assets, net | $ | 64 |  |  | $ | 74 |
Our operating lease income was $21 million and $32 million for the first quarter of fiscal 2023 and 2022, respectively, and was included in product revenue in the Consolidated Statement of Operations. Minimum future rentals on noncancelable operating leases as of October 29, 2022 are summarized as follows (in millions):
Fiscal Year | Amount
2023 (remaining nine months) | $ | 23 |
2024 | 17 |
2025 | 5 |
Total | $ | 45 |
Leases | Leases (a)Lessee Arrangements The following table presents our operating lease balances (in millions):
| Balance Sheet Line Item |  | October 29, 2022 |  | July 30, 2022
Operating lease right-of-use assets | Other assets |  | $ | 929 |  |  | $ | 1,003 |
Operating lease liabilities | Other current liabilities |  | $ | 308 |  |  | $ | 322 |
Operating lease liabilities | Other long-term liabilities |  | 667 |  |  | 724 |
Total operating lease liabilities |  |  | $ | 975 |  |  | $ | 1,046 |
The components of our lease expenses were as follows (in millions):
| Three Months Ended
| October 29, 2022 |  | October 30, 2021
Operating lease expense | $ | 96 |  |  | $ | 95 |
Short-term lease expense | 17 |  |  | 17 |
Variable lease expense | 58 |  |  | 49 |
Total lease expense | $ | 171 |  |  | $ | 161 |
Supplemental information related to our operating leases is as follows (in millions):
| Three Months Ended
| October 29, 2022 |  | October 30, 2021
Cash paid for amounts included in the measurement of lease liabilities — operating cash flows | $ | 96 |  |  | $ | 98 |
Right-of-use assets obtained in exchange for operating leases liabilities | $ | 35 |  |  | $ | 120 |
The weighted-average lease term was 4.6 years and 4.7 years as of October 29, 2022 and July 30, 2022, respectively. The weighted-average discount rate was 2.3% and 2.2% as of October 29, 2022 and July 30, 2022, respectively. The maturities of our operating leases (undiscounted) as of October 29, 2022 are as follows (in millions):
Fiscal Year | Amount
2023 (remaining nine months) | $ | 254 |
2024 | 262 |
2025 | 183 |
2026 | 106 |
2027 | 63 |
Thereafter | 181 |
Total lease payments | 1,049 |
Less interest | (74) |
Total | $ | 975 |
(b)Lessor Arrangements Our leases primarily represent sales-type leases with terms of four years on average. We provide leasing of our equipment and complementary third-party products primarily through our channel partners and distributors, for which the income arising from these leases is recognized through interest income. Interest income was $12 million and $15 million for the first quarter of fiscal 2023 and 2022, respectively, and was included in interest income in the Consolidated Statement of Operations. The net investment of our lease receivables is measured at the commencement date as the gross lease receivable, residual value less unearned income and allowance for credit loss. For additional information, see Note 9. Future minimum lease payments on our lease receivables as of October 29, 2022 are summarized as follows (in millions):
Fiscal Year | Amount
2023 (remaining nine months) | $ | 461 |
2024 | 329 |
2025 | 182 |
2026 | 90 |
2027 | 63 |
Thereafter | 4 |
Total | 1,129 |
Less: Present value of lease payments | 1,074 |
Unearned income | $ | 55 |
Actual cash collections may differ from the contractual maturities due to early customer buyouts, refinancings, or defaults. We provide financing of certain equipment through operating leases, and the amounts are included in property and equipment in the Consolidated Balance Sheets. Amounts relating to equipment on operating lease assets held by us and the associated accumulated depreciation are summarized as follows (in millions):
| October 29, 2022 |  | July 30, 2022
Operating lease assets | $ | 161 |  |  | $ | 185 |
Accumulated depreciation | (97) |  |  | (111) |
Operating lease assets, net | $ | 64 |  |  | $ | 74 |
Our operating lease income was $21 million and $32 million for the first quarter of fiscal 2023 and 2022, respectively, and was included in product revenue in the Consolidated Statement of Operations. Minimum future rentals on noncancelable operating leases as of October 29, 2022 are summarized as follows (in millions):
Fiscal Year | Amount
2023 (remaining nine months) | $ | 23 |
2024 | 17 |
2025 | 5 |
Total | $ | 45 |
Leases | Leases (a)Lessee Arrangements The following table presents our operating lease balances (in millions):
| Balance Sheet Line Item |  | October 29, 2022 |  | July 30, 2022
Operating lease right-of-use assets | Other assets |  | $ | 929 |  |  | $ | 1,003 |
Operating lease liabilities | Other current liabilities |  | $ | 308 |  |  | $ | 322 |
Operating lease liabilities | Other long-term liabilities |  | 667 |  |  | 724 |
Total operating lease liabilities |  |  | $ | 975 |  |  | $ | 1,046 |
The components of our lease expenses were as follows (in millions):
| Three Months Ended
| October 29, 2022 |  | October 30, 2021
Operating lease expense | $ | 96 |  |  | $ | 95 |
Short-term lease expense | 17 |  |  | 17 |
Variable lease expense | 58 |  |  | 49 |
Total lease expense | $ | 171 |  |  | $ | 161 |
Supplemental information related to our operating leases is as follows (in millions):
| Three Months Ended
| October 29, 2022 |  | October 30, 2021
Cash paid for amounts included in the measurement of lease liabilities — operating cash flows | $ | 96 |  |  | $ | 98 |
Right-of-use assets obtained in exchange for operating leases liabilities | $ | 35 |  |  | $ | 120 |
The weighted-average lease term was 4.6 years and 4.7 years as of October 29, 2022 and July 30, 2022, respectively. The weighted-average discount rate was 2.3% and 2.2% as of October 29, 2022 and July 30, 2022, respectively. The maturities of our operating leases (undiscounted) as of October 29, 2022 are as follows (in millions):
Fiscal Year | Amount
2023 (remaining nine months) | $ | 254 |
2024 | 262 |
2025 | 183 |
2026 | 106 |
2027 | 63 |
Thereafter | 181 |
Total lease payments | 1,049 |
Less interest | (74) |
Total | $ | 975 |
(b)Lessor Arrangements Our leases primarily represent sales-type leases with terms of four years on average. We provide leasing of our equipment and complementary third-party products primarily through our channel partners and distributors, for which the income arising from these leases is recognized through interest income. Interest income was $12 million and $15 million for the first quarter of fiscal 2023 and 2022, respectively, and was included in interest income in the Consolidated Statement of Operations. The net investment of our lease receivables is measured at the commencement date as the gross lease receivable, residual value less unearned income and allowance for credit loss. For additional information, see Note 9. Future minimum lease payments on our lease receivables as of October 29, 2022 are summarized as follows (in millions):
Fiscal Year | Amount
2023 (remaining nine months) | $ | 461 |
2024 | 329 |
2025 | 182 |
2026 | 90 |
2027 | 63 |
Thereafter | 4 |
Total | 1,129 |
Less: Present value of lease payments | 1,074 |
Unearned income | $ | 55 |
Actual cash collections may differ from the contractual maturities due to early customer buyouts, refinancings, or defaults. We provide financing of certain equipment through operating leases, and the amounts are included in property and equipment in the Consolidated Balance Sheets. Amounts relating to equipment on operating lease assets held by us and the associated accumulated depreciation are summarized as follows (in millions):
| October 29, 2022 |  | July 30, 2022
Operating lease assets | $ | 161 |  |  | $ | 185 |
Accumulated depreciation | (97) |  |  | (111) |
Operating lease assets, net | $ | 64 |  |  | $ | 74 |
Our operating lease income was $21 million and $32 million for the first quarter of fiscal 2023 and 2022, respectively, and was included in product revenue in the Consolidated Statement of Operations. Minimum future rentals on noncancelable operating leases as of October 29, 2022 are summarized as follows (in millions):
Fiscal Year | Amount
2023 (remaining nine months) | $ | 23 |
2024 | 17 |
2025 | 5 |
Total | $ | 45 |

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of lessor's sales-type leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -URI https://asc.fasb.org/subtopic&trid=77888252 + Details
Name: | us-gaap_LessorSalesTypeLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for lessor's operating leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -URI https://asc.fasb.org/subtopic&trid=77888252 + Details
Name: | us-gaap_OperatingLeasesOfLessorDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration