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DEFERRED REVENUE
 3 Months Ended
Apr. 29, 2022
Revenue from Contract with Customer [Abstract]  
DEFERRED REVENUE DEFERRED REVENUE
Deferred Revenue — Deferred revenue consists of support and deployment services, software maintenance, training, Software-as-a-Service, and undelivered hardware and professional services, consisting of installations and consulting engagements. Deferred revenue is recorded when the Company has invoiced or payments have been received for undelivered products or services where transfer of control has not occurred. Revenue is recognized as the Company’s performance obligations under the contract are completed.

The following table presents the changes in the Company’s deferred revenue for the periods indicated:
Three Months Ended
April 29, 2022April 30, 2021
(in millions)
Deferred revenue:
Deferred revenue at beginning of period$27,573 $25,592 
Revenue deferrals4,975 5,279 
Revenue recognized(4,980)(4,589)
Other (a)(165)— 
Deferred revenue at end of period$27,403 $26,282 
Short-term deferred revenue$14,329 $13,641 
Long-term deferred revenue$13,074 $12,641 
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(a)    Other represents the reclassification of deferred revenue to accrued and other liabilities.

Remaining Performance Obligations — Remaining performance obligations represent the aggregate amount of the transaction price allocated to performance obligations not delivered, or partially undelivered, as of the end of the reporting period. Remaining performance obligations include deferred revenue plus unbilled amounts not yet recorded in deferred revenue. The value of the transaction price allocated to remaining performance obligations as of April 29, 2022 was approximately $42 billion. The Company expects to recognize approximately 62% of remaining performance obligations as revenue in the next twelve months, and the remainder thereafter.

The aggregate amount of the transaction price allocated to remaining performance obligations does not include amounts owed under cancelable contracts where there is no substantive termination penalty. The Company applied the practical expedient to exclude the value of remaining performance obligations for contracts for which revenue is recognized at the amount to which the Company has the right to invoice for services performed.

Remaining performance obligation estimates are subject to change and are affected by several factors, including terminations, changes in the scope of contracts, periodic revalidation, adjustments for revenue that have not materialized, and adjustments for currency.