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v3.23.2

Financing Receivables (Tables) | 12 Months Ended
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Jul. 29, 2023
Receivables [Abstract] |
Financing Receivables | A summary of our financing receivables is presented as follows (in millions):
July 29, 2023 | Loan Receivables |  | Lease Receivables |  | Total
Gross | $ | 5,910 |  |  | $ | 1,015 |  |  | $ | 6,925 |
Residual value | — |  |  | 70 |  |  | 70 |
Unearned income | — |  |  | (88) |  |  | (88) |
Allowance for credit loss | (53) |  |  | (19) |  |  | (72) |
Total, net | $ | 5,857 |  |  | $ | 978 |  |  | $ | 6,835 |
Reported as: |  |  |  |  |
Current | $ | 2,988 |  |  | $ | 364 |  |  | $ | 3,352 |
Noncurrent | 2,869 |  |  | 614 |  |  | 3,483 |
Total, net | $ | 5,857 |  |  | $ | 978 |  |  | $ | 6,835 |
July 30, 2022 | Loan Receivables |  | Lease Receivables |  | Total
Gross | $ | 6,842 |  |  | $ | 1,176 |  |  | $ | 8,018 |
Residual value | — |  |  | 76 |  |  | 76 |
Unearned income | — |  |  | (54) |  |  | (54) |
Allowance for credit loss | (103) |  |  | (23) |  |  | (126) |
Total, net | $ | 6,739 |  |  | $ | 1,175 |  |  | $ | 7,914 |
Reported as: |  |  |  |  |
Current | $ | 3,327 |  |  | $ | 578 |  |  | $ | 3,905 |
Noncurrent | 3,412 |  |  | 597 |  |  | 4,009 |
Total, net | $ | 6,739 |  |  | $ | 1,175 |  |  | $ | 7,914 |
Schedule of Financing Receivables by Internal Credit Risk Rating by Period of Origination | The tables below present our gross financing receivables, excluding residual value, less unearned income, categorized by our internal credit risk rating by period of origination (in millions):
July 29, 2023 |  |  | Fiscal Year |  |
Internal Credit Risk Rating | Prior |  | July 27, 2019 |  | July 25, 2020 |  | July 31, 2021 |  | July 30, 2022 |  | July 29, 2023 |  | Total
Loan Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |
1 to 4 | $ | 10 |  |  | $ | 53 |  |  | $ | 251 |  |  | $ | 791 |  |  | $ | 1,077 |  |  | $ | 1,784 |  |  | $ | 3,966 |
5 to 6 | 3 |  |  | 14 |  |  | 131 |  |  | 287 |  |  | 465 |  |  | 936 |  |  | 1,836 |
7 and Higher | 1 |  |  | 7 |  |  | 15 |  |  | 17 |  |  | 29 |  |  | 39 |  |  | 108 |
Total Loan Receivables | $ | 14 |  |  | $ | 74 |  |  | $ | 397 |  |  | $ | 1,095 |  |  | $ | 1,571 |  |  | $ | 2,759 |  |  | $ | 5,910 |
Lease Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |
1 to 4 | $ | 2 |  |  | $ | 20 |  |  | $ | 57 |  |  | $ | 111 |  |  | $ | 84 |  |  | $ | 235 |  |  | $ | 509 |
5 to 6 | 2 |  |  | 13 |  |  | 44 |  |  | 58 |  |  | 87 |  |  | 191 |  |  | 395 |
7 and Higher | — |  |  | 1 |  |  | 2 |  |  | 4 |  |  | 5 |  |  | 11 |  |  | 23 |
Total Lease Receivables | $ | 4 |  |  | $ | 34 |  |  | $ | 103 |  |  | $ | 173 |  |  | $ | 176 |  |  | $ | 437 |  |  | $ | 927 |
Total | $ | 18 |  |  | $ | 108 |  |  | $ | 500 |  |  | $ | 1,268 |  |  | $ | 1,747 |  |  | $ | 3,196 |  |  | $ | 6,837 |
July 30, 2022 |  |  | Fiscal Year |  |
Internal Credit Risk Rating | Prior |  | July 28, 2018 |  | July 27, 2019 |  | July 25, 2020 |  | July 31, 2021 |  | July 30, 2022 |  | Total
Loan Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |
1 to 4 | $ | 2 |  |  | $ | 49 |  |  | $ | 173 |  |  | $ | 536 |  |  | $ | 1,458 |  |  | $ | 2,287 |  |  | $ | 4,505 |
5 to 6 | 1 |  |  | 17 |  |  | 115 |  |  | 345 |  |  | 709 |  |  | 1,030 |  |  | 2,217 |
7 and Higher | 1 |  |  | 1 |  |  | 22 |  |  | 45 |  |  | 39 |  |  | 12 |  |  | 120 |
Total Loan Receivables | $ | 4 |  |  | $ | 67 |  |  | $ | 310 |  |  | $ | 926 |  |  | $ | 2,206 |  |  | $ | 3,329 |  |  | $ | 6,842 |
Lease Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |
1 to 4 | $ | 2 |  |  | $ | 25 |  |  | $ | 74 |  |  | $ | 124 |  |  | $ | 176 |  |  | $ | 152 |  |  | $ | 553 |
5 to 6 | 1 |  |  | 10 |  |  | 67 |  |  | 146 |  |  | 165 |  |  | 151 |  |  | 540 |
7 and Higher | — |  |  | 1 |  |  | 4 |  |  | 12 |  |  | 2 |  |  | 10 |  |  | 29 |
Total Lease Receivables | $ | 3 |  |  | $ | 36 |  |  | $ | 145 |  |  | $ | 282 |  |  | $ | 343 |  |  | $ | 313 |  |  | $ | 1,122 |
Total | $ | 7 |  |  | $ | 103 |  |  | $ | 455 |  |  | $ | 1,208 |  |  | $ | 2,549 |  |  | $ | 3,642 |  |  | $ | 7,964 |
Schedule of Aging Analysis of Financing Receivables | The following tables present the aging analysis of gross receivables as of July 29, 2023 and July 30, 2022 (in millions):
| DAYS PAST DUE (INCLUDES BILLED AND UNBILLED) |  |  |  |  |  |  |  |  |  |
July 29, 2023 | 31 - 60 |  | 61 - 90 |  | 91+ |  | Total Past Due |  | Current |  | Total |  | 120+ Still Accruing |  | Nonaccrual Financing Receivables |  | Impaired Financing Receivables
Loan receivables | $ | 47 |  |  | $ | 20 |  |  | $ | 37 |  |  | $ | 104 |  |  | $ | 5,806 |  |  | $ | 5,910 |  |  | $ | 17 |  |  | $ | 12 |  |  | $ | 12 |
Lease receivables | 16 |  |  | 4 |  |  | 23 |  |  | 43 |  |  | 884 |  |  | 927 |  |  | 6 |  |  | 3 |  |  | 3 |
Total | $ | 63 |  |  | $ | 24 |  |  | $ | 60 |  |  | $ | 147 |  |  | $ | 6,690 |  |  | $ | 6,837 |  |  | $ | 23 |  |  | $ | 15 |  |  | $ | 15 |
| DAYS PAST DUE (INCLUDES BILLED AND UNBILLED) |  |  |  |  |  |  |  |  |  |
July 30, 2022 | 31 - 60 |  | 61 - 90 |  | 91+ |  | Total Past Due |  | Current |  | Total |  | 120+ Still Accruing |  | Nonaccrual Financing Receivables |  | Impaired Financing Receivables
Loan receivables | $ | 98 |  |  | $ | 62 |  |  | $ | 129 |  |  | $ | 289 |  |  | $ | 6,553 |  |  | $ | 6,842 |  |  | $ | 14 |  |  | $ | 60 |  |  | $ | 60 |
Lease receivables | 8 |  |  | 6 |  |  | 26 |  |  | 40 |  |  | 1,082 |  |  | 1,122 |  |  | 7 |  |  | 11 |  |  | 11 |
Total | $ | 106 |  |  | $ | 68 |  |  | $ | 155 |  |  | $ | 329 |  |  | $ | 7,635 |  |  | $ | 7,964 |  |  | $ | 21 |  |  | $ | 71 |  |  | $ | 71 |
Allowance for Credit Loss and Related Financing Receivables | The allowances for credit loss and the related financing receivables are summarized as follows (in millions):
| CREDIT LOSS ALLOWANCES
| Loan Receivables |  | Lease Receivables |  | Total
Allowance for credit loss as of July 30, 2022 | $ | 103 |  |  | $ | 23 |  |  | $ | 126 |
Provisions (benefits) | (7) |  |  | (1) |  |  | (8) |
Recoveries (write-offs), net | (38) |  |  | (3) |  |  | (41) |
Foreign exchange and other | (5) |  |  | — |  |  | (5) |
Allowance for credit loss as of July 29, 2023 | $ | 53 |  |  | $ | 19 |  |  | $ | 72 |
| CREDIT LOSS ALLOWANCES
| Loan Receivables |  | Lease Receivables |  | Total
Allowance for credit loss as of July 31, 2021 | $ | 89 |  |  | $ | 38 |  |  | $ | 127 |
Provisions (benefits) | 4 |  |  | (13) |  |  | (9) |
Recoveries (write-offs), net | — |  |  | (2) |  |  | (2) |
Foreign exchange and other | 10 |  |  | — |  |  | 10 |
Allowance for credit loss as of July 30, 2022 | $ | 103 |  |  | $ | 23 |  |  | $ | 126 |
| CREDIT LOSS ALLOWANCES
| Loan Receivables |  | Lease Receivables |  | Total
Allowance for credit loss as of July 25, 2020 | $ | 90 |  |  | $ | 48 |  |  | $ | 138 |
Provisions (benefits) | (17) |  |  | (10) |  |  | (27) |
Recoveries (write-offs), net | (1) |  |  | (1) |  |  | (2) |
Foreign exchange and other | 17 |  |  | 1 |  |  | 18 |
Allowance for credit loss as of July 31, 2021 | $ | 89 |  |  | $ | 38 |  |  | $ | 127 |

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- Definition 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. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479319/326-20-50-5 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481962/310-10-50-29 + Details
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