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Financing Receivables (Tables)
 6 Months Ended
Jan. 25, 2020
Receivables [Abstract]  
Financing Receivables
A summary of our financing receivables is presented as follows (in millions):
January 25, 2020
Lease
Receivables
 
Loan
Receivables
 
Financed Service
Contracts
 
Total
Gross
$
2,247

 
$
5,297

 
$
2,182

 
$
9,726

Residual value
133

 
—

 
—

 
133

Unearned income
(130
)
 
—

 
—

 
(130
)
Allowance for credit loss
(42
)
 
(95
)
 
(8
)
 
(145
)
Total, net
$
2,208

 
$
5,202

 
$
2,174

 
$
9,584

Reported as:
 
 
 
 
 
 
 
Current
$
999

 
$
2,496

 
$
1,332

 
$
4,827

Noncurrent
1,209

 
2,706

 
842

 
4,757

Total, net
$
2,208

 
$
5,202

 
$
2,174

 
$
9,584

July 27, 2019
Lease
Receivables
 
Loan
Receivables
 
Financed Service
Contracts
 
Total
Gross
$
2,367

 
$
5,438

 
$
2,369

 
$
10,174

Residual value
142

 
—

 
—

 
142

Unearned income
(137
)
 
—

 
—

 
(137
)
Allowance for credit loss
(46
)
 
(71
)
 
(9
)
 
(126
)
Total, net
$
2,326

 
$
5,367

 
$
2,360

 
$
10,053

Reported as:
 
 
 
 
 
 
 
Current
$
1,029

 
$
2,653

 
$
1,413

 
$
5,095

Noncurrent
1,297

 
2,714

 
947

 
4,958

Total, net
$
2,326

 
$
5,367

 
$
2,360

 
$
10,053
Schedule of Internal Credit Risk Rating for Each Portfolio Segment and Class
Gross receivables, excluding residual value, less unearned income categorized by our internal credit risk rating as of January 25, 2020 and July 27, 2019 are summarized as follows (in millions):
 
INTERNAL CREDIT RISK RATING
January 25, 2020
1 to 4
 
5 to 6
 
7 and Higher
 
Total
Lease receivables
$
1,133

 
$
936

 
$
48

 
$
2,117

Loan receivables
3,262

 
1,855

 
180

 
5,297

Financed service contracts
1,256

 
900

 
26

 
2,182

Total
$
5,651

 
$
3,691

 
$
254

 
$
9,596

 
INTERNAL CREDIT RISK RATING
July 27, 2019
1 to 4
 
5 to 6
 
7 and Higher
 
Total
Lease receivables
$
1,204

 
$
991

 
$
35

 
$
2,230

Loan receivables
3,367

 
1,920

 
151

 
5,438

Financed service contracts
1,413

 
939

 
17

 
2,369

Total
$
5,984

 
$
3,850

 
$
203

 
$
10,037
Schedule of Financing Receivables by Portfolio Segment and Class Aging Analysis
The following tables present the aging analysis of gross receivables, excluding residual value and less unearned income as of January 25, 2020 and July 27, 2019 (in millions):
 
DAYS PAST DUE
(INCLUDES BILLED AND UNBILLED)
 
 
 
 
 
 
 
 
January 25, 2020
31-60
 
61-90 
 
91+
 
Total
Past Due
 
Current
 
Total
 
Nonaccrual
Financing
Receivables
 
Impaired
Financing
Receivables
Lease receivables
$
58

 
$
34

 
$
172

 
$
264

 
$
1,853

 
$
2,117

 
$
22

 
$
22

Loan receivables
129

 
31

 
219

 
379

 
4,918

 
5,297

 
78

 
78

Financed service contracts
82

 
45

 
309

 
436

 
1,746

 
2,182

 
2

 
2

Total
$
269

 
$
110

 
$
700

 
$
1,079

 
$
8,517

 
$
9,596

 
$
102

 
$
102

 
DAYS PAST DUE
(INCLUDES BILLED AND UNBILLED)
 
 
 
 
 
 
 
 
July 27, 2019
31-60
 
61-90 
 
91+
 
Total
Past Due
 
Current
 
Total
 
Nonaccrual
Financing
Receivables
 
Impaired
Financing
Receivables
Lease receivables
$
101

 
$
42

 
$
291

 
$
434

 
$
1,796

 
$
2,230

 
$
13

 
$
13

Loan receivables
257

 
67

 
338

 
662

 
4,776

 
5,438

 
31

 
31

Financed service contracts
145

 
131

 
271

 
547

 
1,822

 
2,369

 
3

 
3

Total
$
503

 
$
240

 
$
900

 
$
1,643

 
$
8,394

 
$
10,037

 
$
47

 
$
47
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 January 25, 2020
CREDIT LOSS ALLOWANCES
 
Lease
Receivables
 
Loan
Receivables
 
Financed Service
Contracts
 
Total
Allowance for credit loss as of October 26, 2019
$
43

 
$
81

 
$
9

 
$
133

Provisions (benefits)
(1
)
 
15

 
—

 
14

Recoveries (write-offs), net
(1
)
 
(1
)
 
—

 
(2
)
Foreign exchange and other
1

 
—

 
(1
)
 
—

Allowance for credit loss as of January 25, 2020
$
42

 
$
95

 
$
8

 
$
145

Six months ended January 25, 2020
CREDIT LOSS ALLOWANCES
 
Lease
Receivables
 
Loan
Receivables
 
Financed Service
Contracts
 
Total
Allowance for credit loss as of July 27, 2019
$
46

 
$
71

 
$
9

 
$
126

Provisions (benefits)
(4
)
 
42

 
—

 
38

Recoveries (write-offs), net
(1
)
 
(17
)
 
—

 
(18
)
Foreign exchange and other
1

 
(1
)
 
(1
)
 
(1
)
Allowance for credit loss as of January 25, 2020
$
42

 
$
95

 
$
8

 
$
145

Three months ended January 26, 2019
CREDIT LOSS ALLOWANCES
 
Lease
Receivables
 
Loan
Receivables
 
Financed Service
Contracts
 
Total
Allowance for credit loss as of October 27, 2018
$
131

 
$
60

 
$
8

 
$
199

Provisions (benefits)
(4
)
 
4

 
1

 
1

Allowance for credit loss as of January 26, 2019
$
127

 
$
64

 
$
9

 
$
200

Six months ended January 26, 2019
CREDIT LOSS ALLOWANCES
 
Lease
Receivables
 
Loan
Receivables
 
Financed Service
Contracts
 
Total
Allowance for credit loss as of July 28, 2018
$
135

 
$
60

 
$
10

 
$
205

Provisions (benefits)
(7
)
 
4

 
(1
)
 
(4
)
Foreign exchange and other
(1
)
 
—

 
—

 
(1
)
Allowance for credit loss as of January 26, 2019
$
127

 
$
64

 
$
9

 
$
200