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Financing Receivables and Operating Leases (Tables)
 3 Months Ended
Oct. 24, 2015
Receivables [Abstract]  
Financing Receivables
A summary of the Company's financing receivables is presented as follows (in millions):
October 24, 2015
Lease
Receivables
 
Loan
Receivables
 
Financed Service
Contracts and Other
 
Total
Gross
$
3,317

 
$
1,963

 
$
3,598

 
$
8,878

Residual value
225

 
—

 
—

 
225

Unearned income
(182
)
 
—

 
—

 
(182
)
Allowance for credit loss
(255
)
 
(90
)
 
(33
)
 
(378
)
Total, net
$
3,105

 
$
1,873

 
$
3,565

 
$
8,543

Reported as:
 
 
 
 
 
 
 
Current
$
1,447

 
$
931

 
$
2,128

 
$
4,506

Noncurrent
1,658

 
942

 
1,437

 
4,037

Total, net
$
3,105

 
$
1,873

 
$
3,565

 
$
8,543

July 25, 2015
Lease
Receivables
 
Loan
Receivables
 
Financed Service
Contracts and Other
 
Total
Gross
$
3,361

 
$
1,763

 
$
3,573

 
$
8,697

Residual value
224

 
—

 
—

 
224

Unearned income
(190
)
 
—

 
—

 
(190
)
Allowance for credit loss
(259
)
 
(87
)
 
(36
)
 
(382
)
Total, net
$
3,136

 
$
1,676

 
$
3,537

 
$
8,349

Reported as:
 
 
 
 
 
 
 
Current
$
1,468

 
$
856

 
$
2,167

 
$
4,491

Noncurrent
1,668

 
820

 
1,370

 
3,858

Total, net
$
3,136

 
$
1,676

 
$
3,537

 
$
8,349
Contractual Maturities Of The Gross Lease Receivables
Future minimum lease payments at October 24, 2015 are summarized as follows (in millions):
Fiscal Year
Amount
2016 (remaining nine months)
$
1,307

2017
1,079

2018
606

2019
254

2020
70

Thereafter
1

Total
$
3,317
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 24, 2015 and July 25, 2015 are summarized as follows (in millions):
 
INTERNAL CREDIT RISK RATING
October 24, 2015
1 to 4
 
5 to 6
 
7 and Higher
 
Total
Lease receivables
$
1,670

 
$
1,336

 
$
129

 
$
3,135

Loan receivables
1,039

 
783

 
141

 
1,963

Financed service contracts and other
2,111

 
1,437

 
50

 
3,598

Total
$
4,820

 
$
3,556

 
$
320

 
$
8,696

 
INTERNAL CREDIT RISK RATING
July 25, 2015
1 to 4
 
5 to 6
 
7 and Higher
 
Total
Lease receivables
$
1,688

 
$
1,342

 
$
141

 
$
3,171

Loan receivables
788

 
823

 
152

 
1,763

Financed service contracts and other
2,133

 
1,389

 
51

 
3,573

Total
$
4,609

 
$
3,554

 
$
344

 
$
8,507
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 24, 2015 and July 25, 2015 (in millions):
 
DAYS PAST DUE
(INCLUDES BILLED AND UNBILLED)
 
 
 
 
 
 
 
 
October 24, 2015
31-60
 
61-90 
 
91+
 
Total
Past Due
 
Current
 
Total
 
Nonaccrual
Financing
Receivables
 
Impaired
Financing
Receivables
Lease receivables
$
100

 
$
51

 
$
176

 
$
327

 
$
2,808

 
$
3,135

 
$
83

 
$
72

Loan receivables
22

 
85

 
69

 
176

 
1,787

 
1,963

 
17

 
17

Financed service contracts and other
152

 
50

 
249

 
451

 
3,147

 
3,598

 
26

 
6

Total
$
274

 
$
186

 
$
494

 
$
954

 
$
7,742

 
$
8,696

 
$
126

 
$
95

 
DAYS PAST DUE
(INCLUDES BILLED AND UNBILLED)
 
 
 
 
 
 
 
 
July 25, 2015
31-60
 
61-90 
 
91+
 
Total
Past Due
 
Current
 
Total
 
Nonaccrual
Financing
Receivables
 
Impaired
Financing
Receivables
Lease receivables
$
90

 
$
27

 
$
185

 
$
302

 
$
2,869

 
$
3,171

 
$
73

 
$
73

Loan receivables
21

 
3

 
25

 
49

 
1,714

 
1,763

 
32

 
32

Financed service contracts and other
396

 
152

 
414

 
962

 
2,611

 
3,573

 
29

 
9

Total
$
507

 
$
182

 
$
624

 
$
1,313

 
$
7,194

 
$
8,507

 
$
134

 
$
114
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
 
Lease
Receivables
 
Loan
Receivables
 
Financed Service
Contracts and Other
 
Total
Allowance for credit loss as of July 25, 2015
$
259

 
$
87

 
$
36

 
$
382

Provisions
—

 
4

 
—

 
4

Recoveries (write-offs), net
(4
)
 
—

 
(3
)
 
(7
)
Foreign exchange and other
—

 
(1
)
 
—

 
(1
)
Allowance for credit loss as of October 24, 2015
$
255

 
$
90

 
$
33

 
$
378

Financing receivables as of October 24, 2015 (1)
$
3,360

 
$
1,963

 
$
3,598

 
$
8,921

 
CREDIT LOSS ALLOWANCES
 
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

(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 24, 2015
 
July 25, 2015
Operating lease assets
$
372

 
$
372

Accumulated depreciation
(207
)
 
(205
)
Operating lease assets, net
$
165

 
$
167