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Financing Receivables (Tables) | 6 Months Ended
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Jan. 28, 2023
Receivables [Abstract] |
Summary of Financing Receivables | A summary of our financing receivables is presented as follows (in millions):
January 28, 2023 | Loan Receivables |  | Lease Receivables |  | Total
Gross | $ | 6,136 |  |  | $ | 1,086 |  |  | $ | 7,222 |
Residual value | — |  |  | 67 |  |  | 67 |
Unearned income | — |  |  | (65) |  |  | (65) |
Allowance for credit loss | (94) |  |  | (19) |  |  | (113) |
Total, net | $ | 6,042 |  |  | $ | 1,069 |  |  | $ | 7,111 |
Reported as: |  |  |  |  |
Current | $ | 3,057 |  |  | $ | 500 |  |  | $ | 3,557 |
Noncurrent | 2,985 |  |  | 569 |  |  | 3,554 |
Total, net | $ | 6,042 |  |  | $ | 1,069 |  |  | $ | 7,111 |
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):
January 28, 2023 |  |  | Fiscal Year |  | Six Months Ended |  |
Internal Credit Risk Rating | Prior |  | July 27, 2019 |  | July 25, 2020 |  | July 31, 2021 |  | July 30, 2022 |  | January 28, 2023 |  | Total
Loan Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |
1 to 4 | $ | 18 |  |  | $ | 108 |  |  | $ | 371 |  |  | $ | 1,086 |  |  | $ | 1,347 |  |  | $ | 978 |  |  | $ | 3,908 |
5 to 6 | 5 |  |  | 73 |  |  | 199 |  |  | 488 |  |  | 671 |  |  | 651 |  |  | 2,087 |
7 and Higher | 2 |  |  | 15 |  |  | 36 |  |  | 33 |  |  | 54 |  |  | 1 |  |  | 141 |
Total Loan Receivables | $ | 25 |  |  | $ | 196 |  |  | $ | 606 |  |  | $ | 1,607 |  |  | $ | 2,072 |  |  | $ | 1,630 |  |  | $ | 6,136 |
Lease Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |
1 to 4 | $ | 10 |  |  | $ | 49 |  |  | $ | 101 |  |  | $ | 165 |  |  | $ | 105 |  |  | $ | 108 |  |  | $ | 538 |
5 to 6 | 4 |  |  | 25 |  |  | 74 |  |  | 92 |  |  | 115 |  |  | 149 |  |  | 459 |
7 and Higher | 1 |  |  | 2 |  |  | 9 |  |  | 2 |  |  | 3 |  |  | 7 |  |  | 24 |
Total Lease Receivables | $ | 15 |  |  | $ | 76 |  |  | $ | 184 |  |  | $ | 259 |  |  | $ | 223 |  |  | $ | 264 |  |  | $ | 1,021 |
Total | $ | 40 |  |  | $ | 272 |  |  | $ | 790 |  |  | $ | 1,866 |  |  | $ | 2,295 |  |  | $ | 1,894 |  |  | $ | 7,157 |
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 January 28, 2023 and July 30, 2022 (in millions):
| DAYS PAST DUE (INCLUDES BILLED AND UNBILLED) |  |  |  |  |  |  |  |  |  |
January 28, 2023 | 31-60 |  | 61-90 |  | 91+ |  | Total Past Due |  | Current |  | Total |  | 120+ Still Accruing |  | Nonaccrual Financing Receivables |  | Impaired Financing Receivables
Loan receivables | $ | 100 |  |  | $ | 23 |  |  | $ | 46 |  |  | $ | 169 |  |  | $ | 5,967 |  |  | $ | 6,136 |  |  | $ | 14 |  |  | $ | 60 |  |  | $ | 60 |
Lease receivables | 42 |  |  | 36 |  |  | 22 |  |  | 100 |  |  | 921 |  |  | 1,021 |  |  | 8 |  |  | 9 |  |  | 9 |
Total | $ | 142 |  |  | $ | 59 |  |  | $ | 68 |  |  | $ | 269 |  |  | $ | 6,888 |  |  | $ | 7,157 |  |  | $ | 22 |  |  | $ | 69 |  |  | $ | 69 |
| 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 |
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 January 28, 2023 | CREDIT LOSS ALLOWANCES
| Loan Receivables |  | Lease Receivables |  | Total
Allowance for credit loss as of October 29, 2022 | $ | 101 |  |  | $ | 19 |  |  | $ | 120 |
Provisions (benefits) | (3) |  |  | (1) |  |  | (4) |
Other | (4) |  |  | 1 |  |  | (3) |
Allowance for credit loss as of January 28, 2023 | $ | 94 |  |  | $ | 19 |  |  | $ | 113 |
Three Months Ended January 29, 2022 | CREDIT LOSS ALLOWANCES
| Loan Receivables |  | Lease Receivables |  | Total
Allowance for credit loss as of October 30, 2021 | $ | 76 |  |  | $ | 33 |  |  | $ | 109 |
Provisions (benefits) | (6) |  |  | (4) |  |  | (10) |
Recoveries (write-offs), net | — |  |  | (2) |  |  | (2) |
Allowance for credit loss as of January 29, 2022 | $ | 70 |  |  | $ | 27 |  |  | $ | 97 |
Six Months Ended January 28, 2023 | CREDIT LOSS ALLOWANCES
| Loan Receivables |  | Lease Receivables |  | Total
Allowance for credit loss as of July 30, 2022 | $ | 103 |  |  | $ | 23 |  |  | $ | 126 |
Provisions (benefits) | (4) |  |  | (4) |  |  | (8) |
Other | (5) |  |  | — |  |  | (5) |
Allowance for credit loss as of January 28, 2023 | $ | 94 |  |  | $ | 19 |  |  | $ | 113 |
Six Months Ended January 29, 2022 | CREDIT LOSS ALLOWANCES
| Loan Receivables |  | Lease Receivables |  | Total
Allowance for credit loss as of July 31, 2021 | $ | 89 |  |  | $ | 38 |  |  | $ | 127 |
Provisions (benefits) | (19) |  |  | (9) |  |  | (28) |
Recoveries (write-offs), net | — |  |  | (2) |  |  | (2) |
Allowance for credit loss as of January 29, 2022 | $ | 70 |  |  | $ | 27 |  |  | $ | 97 |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919230-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI https://asc.fasb.org/extlink&oid=123577603&loc=SL6953659-111524 + Details
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