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Balance Sheet and Other Details
 3 Months Ended
Oct. 24, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet and Other Financial Details Balance Sheet and Other Details
The following tables provide details of selected balance sheet and other items (in millions):
October 24,
2020		July 25,
2020
Cash and cash equivalents$10,822 $11,809 
Restricted cash included in other current assets3 — 
Restricted cash included in other assets— 3 
Total cash, cash equivalents, and restricted cash$10,825 $11,812 
Inventories:
Raw materials$380 $456 
Work in process19 25 
Finished goods:
Deferred cost of sales54 59 
Manufactured finished goods646 542 
Total finished goods700 601 
Service-related spares191 184 
Demonstration systems13 16 
Total$1,303 $1,282 
Our provision for inventory was $29 million and $18 million for the first quarter of fiscal 2021 and 2020, respectively.
Property and equipment, net:
Gross property and equipment:
Land, buildings, and building and leasehold improvements$4,273 $4,252 
Computer equipment and related software872 875 
Production, engineering, and other equipment5,157 5,163 
Operating lease assets338 337 
Furniture, fixtures and other385 387 
Total gross property and equipment11,025 11,014 
Less: accumulated depreciation and amortization
(8,613)(8,561)
Total$2,412 $2,453 
Deferred revenue:
Product$8,139 $7,895 
Service12,334 12,551 
Total$20,473 $20,446 
Reported as:
Current$11,271 $11,406 
Noncurrent9,202 9,040 
Total$20,473 $20,446 
Remaining Performance Obligations:
Product$11,340 $11,261 
Service16,129 17,093 
Total$27,469 $28,354 
Remaining Performance Obligations (RPO) are comprised of deferred revenue plus unbilled contract revenue. As of October 24, 2020, the aggregate amount of RPO was comprised of $20.5 billion of deferred revenue and $7.0 billion of unbilled contract revenue. We expect approximately 53% of this amount of be recognized as revenue over the next year. 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. 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.