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Financing Receivables and Operating Leases (Tables)
 3 Months Ended
Oct. 25, 2014
Receivables [Abstract]  
Financing Receivables
A summary of the Company's financing receivables is presented as follows (in millions):
October 25, 2014
Lease
Receivables
 
Loan
Receivables
 
Financed
Service
Contracts and Other
 
Total
Gross
$
3,498

 
$
1,744

 
$
3,071

 
$
8,313

Residual value
234

 
—

 
—

 
234

Unearned income
(223
)
 
—

 
—

 
(223
)
Allowance for credit loss
(248
)
 
(84
)
 
(36
)
 
(368
)
Total, net
$
3,261

 
$
1,660

 
$
3,035

 
$
7,956

Reported as:
 
 
 
 
 
 
 
Current
$
1,496

 
$
827

 
$
1,942

 
$
4,265

Noncurrent
1,765

 
833

 
1,093

 
3,691

Total, net
$
3,261

 
$
1,660

 
$
3,035

 
$
7,956

July 26, 2014
Lease
Receivables
 
Loan
Receivables
 
Financed
Service
Contracts and Other
 
Total
Gross
$
3,532

 
$
1,683

 
$
3,210

 
$
8,425

Residual value
233

 
—

 
—

 
233

Unearned income
(238
)
 
—

 
—

 
(238
)
Allowance for credit loss
(233
)
 
(98
)
 
(18
)
 
(349
)
Total, net
$
3,294

 
$
1,585

 
$
3,192

 
$
8,071

Reported as:
 
 
 
 
 
 
 
Current
$
1,476

 
$
728

 
$
1,949

 
$
4,153

Noncurrent
1,818

 
857

 
1,243

 
3,918

Total, net
$
3,294

 
$
1,585

 
$
3,192

 
$
8,071
Contractual Maturities Of The Gross Lease Receivables
Future minimum lease payments at October 25, 2014 are summarized as follows (in millions):
Fiscal Year
Amount
2015 (remaining nine months)
$
1,303

2016
1,144

2017
681

2018
281

2019
87

Thereafter
2

Total
$
3,498
Schedule Of Internal Credit Risk Rating For Each Portfolio Segment And Class
Gross receivables less unearned income categorized by the Company’s internal credit risk rating as of October 25, 2014 and July 26, 2014 are summarized as follows (in millions):
 
INTERNAL CREDIT RISK RATING
October 25, 2014
1 to 4
 
5 to 6
 
7 and Higher
 
Total
Lease receivables
$
1,665

 
$
1,482

 
$
128

 
$
3,275

Loan receivables
953

 
637

 
154

 
1,744

Financed service contracts and other
1,677

 
1,296

 
98

 
3,071

Total
$
4,295

 
$
3,415

 
$
380

 
$
8,090

 
INTERNAL CREDIT RISK RATING
July 26, 2014
1 to 4
 
5 to 6
 
7 and Higher
 
Total
Lease receivables
$
1,615

 
$
1,538

 
$
141

 
$
3,294

Loan receivables
953

 
593

 
137

 
1,683

Financed service contracts and other
1,744

 
1,367

 
99

 
3,210

Total
$
4,312

 
$
3,498

 
$
377

 
$
8,187
Schedule Of Financing Receivables By Portfolio Segment And Class Aging Analysis
The following tables present the aging analysis of gross receivables less unearned income as of October 25, 2014 and July 26, 2014 (in millions):
 
DAYS PAST DUE (INCLUDES BILLED AND UNBILLED)
 
 
 
 
 
 
 
 
October 25, 2014
31-60
 
61-90 
 
91+
 
Total
Past Due
 
Current
 
Total
 
Nonaccrual
Financing
Receivables
 
Impaired
Financing
Receivables
Lease receivables
$
80

 
$
54

 
$
196

 
$
330

 
$
2,945

 
$
3,275

 
$
47

 
$
39

Loan receivables
17

 
41

 
89

 
147

 
1,597

 
1,744

 
41

 
37

Financed service contracts and other
144

 
163

 
532

 
839

 
2,232

 
3,071

 
12

 
7

Total
$
241

 
$
258

 
$
817

 
$
1,316

 
$
6,774

 
$
8,090

 
$
100

 
$
83

 
DAYS PAST DUE (INCLUDES BILLED AND UNBILLED)
 
 
 
 
 
 
 
 
July 26, 2014
31-60
 
61-90 
 
91+
 
Total
Past Due
 
Current
 
Total
 
Nonaccrual
Financing
Receivables
 
Impaired
Financing
Receivables
Lease receivables
$
104

 
$
43

 
$
165

 
$
312

 
$
2,982

 
$
3,294

 
$
48

 
$
41

Loan receivables
2

 
1

 
16

 
19

 
1,664

 
1,683

 
19

 
19

Financed service contracts and other
301

 
238

 
230

 
769

 
2,441

 
3,210

 
12

 
9

Total
$
407

 
$
282

 
$
411

 
$
1,100

 
$
7,087

 
$
8,187

 
$
79

 
$
69
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
Three Months Ended October 25, 2014
Lease
Receivables
 
Loan
Receivables
 
Financed Service
Contracts and Other
 
Total
Allowance for credit loss as of July 26, 2014
$
233

 
$
98

 
$
18

 
$
349

Provisions
22

 
(13
)
 
19

 
28

Recoveries (write-offs), net
(4
)
 
1

 
—

 
(3
)
Foreign exchange and other
(3
)
 
(2
)
 
(1
)
 
(6
)
Allowance for credit loss as of October 25, 2014
$
248

 
$
84

 
$
36

 
$
368

Financing receivables as of October 25, 2014 (1)
$
3,509

 
$
1,744

 
$
3,071

 
$
8,324

 
CREDIT LOSS ALLOWANCES
Three Months Ended October 26, 2013
Lease
Receivables
 
Loan
Receivables
 
Financed Service
Contracts and Other
 
Total
Allowance for credit loss as of July 27, 2013
$
238

 
$
86

 
$
20

 
$
344

Provisions
(3
)
 
6

 
—

 
3

Foreign exchange and other
2

 
1

 
—

 
3

Allowance for credit loss as of October 26, 2013
$
237

 
$
93

 
$
20

 
$
350

Financing receivables as of October 26, 2013 (1)
$
3,549

 
$
1,808

 
$
3,018

 
$
8,375

(1) Total financing receivables before allowance for credit loss.
Schedule of Property Subject to or Available for Operating Lease
Amounts relating to equipment on operating lease assets and the associated accumulated depreciation are summarized as follows (in millions):
 
October 25, 2014
 
July 26, 2014
Operating lease assets
$
349

 
$
362

Accumulated depreciation
(197
)
 
(202
)
Operating lease assets, net
$
152

 
$
160