Balance Sheet Details

12 Months Ended

Jul. 25, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

The following tables provide details of selected balance sheet items (in millions):



	July 25, 2020		July 27, 2019
Cash and cash equivalents	$	11,809	$	11,750
Restricted cash included in other current assets	—		21
Restricted cash included in other assets	3		1
Total cash, cash equivalents, and restricted cash	$	11,812	$	11,772



Inventories:
Raw materials	$	456	$	374
Work in process	25		10
Finished goods:
Deferred cost of sales	59		109
Manufactured finished goods	542		643
Total finished goods	601		752
Service-related spares	184		225
Demonstration systems	16		22
Total	$	1,282	$	1,383

Our provision for inventory was $74 million, $77 million, and $63 million in fiscal 2020, 2019, and 2018, respectively.



Property and equipment, net:
Gross property and equipment:
Land, buildings, and building and leasehold improvements	$	4,252		$	4,545
Computer equipment and related software	875			922
Production, engineering, and other equipment	5,163			5,711
Operating lease assets	337			485
Furniture, fixtures and other	387			376
Total gross property and equipment	11,014			12,039
Less: accumulated depreciation and amortization	(8,561		)	(9,250		)
Total	$	2,453		$	2,789



Deferred revenue:
Service	$	12,551	$	11,709
Product	7,895		6,758
Total	$	20,446	$	18,467
Reported as:
Current	$	11,406	$	10,668
Noncurrent	9,040		7,799
Total	$	20,446	$	18,467



Remaining Performance Obligations:
Product	$	11,261	$	9,603
Service	17,093		15,702
Total	$	28,354	$	25,305

Remaining Performance Obligations (RPO) are comprised of deferred revenue plus unbilled contract revenue. As of July 25, 2020, the aggregate amount of RPO was comprised of $20.4 billion of deferred revenue and $7.9 billion of unbilled contract revenue. We expect approximately 54% of this amount to be recognized as revenue over the next year. As of July 27, 2019, the aggregate amount of RPO was comprised of $18.5 billion of deferred revenue and $6.8 billion of unbilled contract revenue. Unbilled contract revenue represents noncancelable contracts for which we have not invoiced, have an obligation to perform, and revenue has not yet been recognized in the financial statements.