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v3.25.1

Financing Receivables (Tables) | 9 Months Ended
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Apr. 26, 2025
Receivables [Abstract] |
Summary of Financing Receivables | A summary of our financing receivables is presented as follows (in millions):
April 26, 2025 | Loan Receivables |  | Lease Receivables |  | Total
Gross | $ | 5,276 |  |  | $ | 1,025 |  |  | $ | 6,301 |
Residual value | — |  |  | 65 |  |  | 65 |
Unearned income | — |  |  | (103) |  |  | (103) |
Allowance for credit loss | (44) |  |  | (14) |  |  | (58) |
Total, net | $ | 5,232 |  |  | $ | 973 |  |  | $ | 6,205 |
Reported as: |  |  |  |  |
Current | $ | 2,336 |  |  | $ | 622 |  |  | $ | 2,958 |
Noncurrent | 2,896 |  |  | 351 |  |  | 3,247 |
Total, net | $ | 5,232 |  |  | $ | 973 |  |  | $ | 6,205 |
July 27, 2024 | Loan Receivables |  | Lease Receivables |  | Total
Gross | $ | 5,858 |  |  | $ | 965 |  |  | $ | 6,823 |
Residual value | — |  |  | 67 |  |  | 67 |
Unearned income | — |  |  | (111) |  |  | (111) |
Allowance for credit loss | (50) |  |  | (15) |  |  | (65) |
Total, net | $ | 5,808 |  |  | $ | 906 |  |  | $ | 6,714 |
Reported as: |  |  |  |  |
Current | $ | 3,071 |  |  | $ | 267 |  |  | $ | 3,338 |
Noncurrent | 2,737 |  |  | 639 |  |  | 3,376 |
Total, net | $ | 5,808 |  |  | $ | 906 |  |  | $ | 6,714 |
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):
April 26, 2025 |  |  | Fiscal Year |  | Nine Months Ended |  |
Internal Credit Risk Rating | Prior |  | July 31, 2021 |  | July 30, 2022 |  | July 29, 2023 |  | July 27, 2024 |  | April 26, 2025 |  | Total
Loan Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |
1 to 4 | $ | 15 |  |  | $ | 121 |  |  | $ | 251 |  |  | $ | 462 |  |  | $ | 1,310 |  |  | $ | 1,138 |  |  | $ | 3,297 |
5 to 6 | 6 |  |  | 41 |  |  | 62 |  |  | 238 |  |  | 655 |  |  | 910 |  |  | 1,912 |
7 and Higher | 1 |  |  | 35 |  |  | 8 |  |  | 2 |  |  | 9 |  |  | 12 |  |  | 67 |
Total Loan Receivables | $ | 22 |  |  | $ | 197 |  |  | $ | 321 |  |  | $ | 702 |  |  | $ | 1,974 |  |  | $ | 2,060 |  |  | $ | 5,276 |
Lease Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |
1 to 4 | $ | 1 |  |  | $ | 15 |  |  | $ | 31 |  |  | $ | 141 |  |  | $ | 224 |  |  | $ | 187 |  |  | $ | 599 |
5 to 6 | 1 |  |  | 9 |  |  | 28 |  |  | 79 |  |  | 116 |  |  | 79 |  |  | 312 |
7 and Higher | — |  |  | 1 |  |  | 1 |  |  | 3 |  |  | 6 |  |  | — |  |  | 11 |
Total Lease Receivables | $ | 2 |  |  | $ | 25 |  |  | $ | 60 |  |  | $ | 223 |  |  | $ | 346 |  |  | $ | 266 |  |  | $ | 922 |
Total | $ | 24 |  |  | $ | 222 |  |  | $ | 381 |  |  | $ | 925 |  |  | $ | 2,320 |  |  | $ | 2,326 |  |  | $ | 6,198 |
July 27, 2024 |  |  | Fiscal Year |  |
Internal Credit Risk Rating | Prior |  | July 25, 2020 |  | July 31, 2021 |  | July 30, 2022 |  | July 29, 2023 |  | July 27, 2024 |  | Total
Loan Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |
1 to 4 | $ | 2 |  |  | $ | 78 |  |  | $ | 341 |  |  | $ | 555 |  |  | $ | 945 |  |  | $ | 1,803 |  |  | $ | 3,724 |
5 to 6 | 2 |  |  | 29 |  |  | 127 |  |  | 130 |  |  | 426 |  |  | 1,314 |  |  | 2,028 |
7 and Higher | 3 |  |  | 1 |  |  | 10 |  |  | 74 |  |  | 14 |  |  | 4 |  |  | 106 |
Total Loan Receivables | $ | 7 |  |  | $ | 108 |  |  | $ | 478 |  |  | $ | 759 |  |  | $ | 1,385 |  |  | $ | 3,121 |  |  | $ | 5,858 |
Lease Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |
1 to 4 | $ | 1 |  |  | $ | 8 |  |  | $ | 38 |  |  | $ | 46 |  |  | $ | 176 |  |  | $ | 341 |  |  | $ | 610 |
5 to 6 | 1 |  |  | 11 |  |  | 22 |  |  | 44 |  |  | 129 |  |  | 21 |  |  | 228 |
7 and Higher | — |  |  | — |  |  | 1 |  |  | 3 |  |  | 4 |  |  | 8 |  |  | 16 |
Total Lease Receivables | $ | 2 |  |  | $ | 19 |  |  | $ | 61 |  |  | $ | 93 |  |  | $ | 309 |  |  | $ | 370 |  |  | $ | 854 |
Total | $ | 9 |  |  | $ | 127 |  |  | $ | 539 |  |  | $ | 852 |  |  | $ | 1,694 |  |  | $ | 3,491 |  |  | $ | 6,712 |
Schedule of Aging Analysis of Financing Receivables | The following tables present the aging analysis of gross receivables as of April 26, 2025 and July 27, 2024 (in millions):
| DAYS PAST DUE (INCLUDES BILLED AND UNBILLED) |  |  |  |  |  |  |  |  |  |
April 26, 2025 | 31-60 |  | 61-90 |  | 91+ |  | Total Past Due |  | Current |  | Total |  | 120+ Still Accruing |  | Nonaccrual Financing Receivables |  | Impaired Financing Receivables
Loan receivables | $ | 30 |  |  | $ | 137 |  |  | $ | 18 |  |  | $ | 185 |  |  | $ | 5,091 |  |  | $ | 5,276 |  |  | $ | 8 |  |  | $ | 9 |  |  | $ | 9 |
Lease receivables | 10 |  |  | 6 |  |  | 6 |  |  | 22 |  |  | 900 |  |  | 922 |  |  | 3 |  |  | 1 |  |  | 1 |
Total | $ | 40 |  |  | $ | 143 |  |  | $ | 24 |  |  | $ | 207 |  |  | $ | 5,991 |  |  | $ | 6,198 |  |  | $ | 11 |  |  | $ | 10 |  |  | $ | 10 |
| DAYS PAST DUE (INCLUDES BILLED AND UNBILLED) |  |  |  |  |  |  |  |  |  |
July 27, 2024 | 31-60 |  | 61-90 |  | 91+ |  | Total Past Due |  | Current |  | Total |  | 120+ Still Accruing |  | Nonaccrual Financing Receivables |  | Impaired Financing Receivables
Loan receivables | $ | 34 |  |  | $ | 17 |  |  | $ | 35 |  |  | $ | 86 |  |  | $ | 5,772 |  |  | $ | 5,858 |  |  | $ | 14 |  |  | $ | 7 |  |  | $ | 7 |
Lease receivables | 14 |  |  | 4 |  |  | 5 |  |  | 23 |  |  | 831 |  |  | 854 |  |  | 1 |  |  | — |  |  | — |
Total | $ | 48 |  |  | $ | 21 |  |  | $ | 40 |  |  | $ | 109 |  |  | $ | 6,603 |  |  | $ | 6,712 |  |  | $ | 15 |  |  | $ | 7 |  |  | $ | 7 |
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 April 26, 2025 | CREDIT LOSS ALLOWANCES
| Loan Receivables |  | Lease Receivables |  | Total
Allowance for credit loss as of January 25, 2025 | $ | 45 |  |  | $ | 14 |  |  | $ | 59 |
Provisions (benefits) | (2) |  |  | (1) |  |  | (3) |
Foreign exchange and other | 1 |  |  | 1 |  |  | 2 |
Allowance for credit loss as of April 26, 2025 | $ | 44 |  |  | $ | 14 |  |  | $ | 58 |
Three Months Ended April 27, 2024 | CREDIT LOSS ALLOWANCES
| Loan Receivables |  | Lease Receivables |  | Total
Allowance for credit loss as of January 27, 2024 | $ | 53 |  |  | $ | 16 |  |  | $ | 69 |
Provisions (benefits) | (3) |  |  | — |  |  | (3) |
Recoveries (write-offs), net | — |  |  | (1) |  |  | (1) |
Foreign exchange and other | (1) |  |  | — |  |  | (1) |
Allowance for credit loss as of April 27, 2024 | $ | 49 |  |  | $ | 15 |  |  | $ | 64 |
Nine Months Ended April 26, 2025 | CREDIT LOSS ALLOWANCES
| Loan Receivables |  | Lease Receivables |  | Total
Allowance for credit loss as of July 27, 2024 | $ | 50 |  |  | $ | 15 |  |  | $ | 65 |
Provisions (benefits) | (5) |  |  | (3) |  |  | (8) |
Recoveries (write-offs), net | (3) |  |  | — |  |  | (3) |
Foreign exchange and other | 2 |  |  | 2 |  |  | 4 |
Allowance for credit loss as of April 26, 2025 | $ | 44 |  |  | $ | 14 |  |  | $ | 58 |
Nine Months Ended April 27, 2024 | CREDIT LOSS ALLOWANCES
| Loan Receivables |  | Lease Receivables |  | Total
Allowance for credit loss as of July 29, 2023 | $ | 53 |  |  | $ | 19 |  |  | $ | 72 |
Provisions (benefits) | 1 |  |  | (3) |  |  | (2) |
Recoveries (write-offs), net | (4) |  |  | (1) |  |  | (5) |
Foreign exchange and other | (1) |  |  | — |  |  | (1) |
Allowance for credit loss as of April 27, 2024 | $ | 49 |  |  | $ | 15 |  |  | $ | 64 |

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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://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 29 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-29 Reference 2: 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 + Details
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