Balance Sheet Components

6 Months Ended

Jul. 28, 2019

Notes to financial statements [Abstract]

Balance Sheet Components

Balance Sheet Components 

Certain balance sheet components are as follows:

	July 28,		January 27,
	2019		2019
Inventories:	(In millions)
Raw materials	$	362	$	613
Work in-process	203		238
Finished goods	639		724
Total inventories	$	1,204	$	1,575

	July 28,		January 27,
	2019		2019
Accrued and Other Current Liabilities:	(In millions)
Customer program accruals	$	312	$	302
Accrued payroll and related expenses	183		186
Deferred revenue (1)	127		92
Operating lease liabilities	84		—
Taxes payable	37		91
Licenses payable	21		12
Coupon interest on debt obligations	20		20
Other	96		115
Total accrued and other current liabilities	$	880	$	818

(1) Deferred revenue primarily includes customer advances and deferrals related to license and development arrangements and post contract customer support, or PCS.

	July 28,		January 27,
	2019		2019
Other Long-Term Liabilities:	(In millions)
Income tax payable (1)	$	501	$	513
Deferred revenue (2)	54		46
Licenses payable	26		1
Deferred income tax liability	23		19
Employee benefits liability	22		20
Deferred rent	—		21
Other	24		13
Total other long-term liabilities	$	650	$	633

(1) As of July 28, 2019, represents the long-term portion of the one-time transition tax payable of $317 million, as well as unrecognized tax benefits of $159 million and related interest and penalties of $25 million.

(2) Deferred revenue primarily includes deferrals related to PCS.

Deferred Revenue

The following table shows the changes in deferred revenue during the first half of fiscal years 2020 and 2019.

	July 28,			July 29,
	2019			2018
	(In millions)
Balance at beginning of period	$	138		$	63
Deferred revenue added during the period	161			194
Revenue recognized during the period	(118		)	(153		)
Balance at end of period	$	181		$	104