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Financing Receivables (Tables)

12 Months Ended

Jul. 30, 2022

A summary of our financing receivables is presented as follows (in millions):


July 30, 2022	Lease Receivables		Loan Receivables		Financed Service Contracts		Total
Gross	$	1,176	$	4,656	$	2,186	$	8,018
Residual value	76		—		—		76
Unearned income	(54)		—		—		(54)
Allowance for credit loss	(23)		(100)		(3)		(126)
Total, net	$	1,175	$	4,556	$	2,183	$	7,914
Reported as:
Current	$	578	$	2,176	$	1,151	$	3,905
Noncurrent	597		2,380		1,032		4,009
Total, net	$	1,175	$	4,556	$	2,183	$	7,914


July 31, 2021	Lease Receivables		Loan Receivables		Financed Service Contracts		Total
Gross	$	1,710	$	5,203	$	2,453	$	9,366
Residual value	103		—		—		103
Unearned income	(78)		—		—		(78)
Allowance for credit loss	(38)		(86)		(3)		(127)
Total, net	$	1,697	$	5,117	$	2,450	$	9,264
Reported as:
Current	$	780	$	2,372	$	1,228	$	4,380
Noncurrent	917		2,745		1,222		4,884
Total, net	$	1,697	$	5,117	$	2,450	$	9,264

Schedule of Financing Receivables by Internal Credit Risk Rating by Period of Origination

The tables below present our gross financing receivables, excluding residual value, less unearned income, categorized by our internal credit risk rating by period of origination (in millions):


July 30, 2022			Fiscal Year
Internal Credit Risk Rating	Prior		July 28, 2018		July 27, 2019		July 25, 2020		July 31, 2021		July 30, 2022		Total
Lease Receivables:
1 to 4	$	2	$	25	$	74	$	124	$	176	$	152	$	553
5 to 6	1		10		67		146		165		151		540
7 and Higher	—		1		4		12		2		10		29
Total Lease Receivables	$	3	$	36	$	145	$	282	$	343	$	313	$	1,122
Loan Receivables:
1 to 4	$	1	$	46	$	136	$	458	$	896	$	1,488	$	3,025
5 to 6	1		10		71		242		465		733		1,522
7 and Higher	1		1		20		38		37		12		109
Total Loan Receivables	$	3	$	57	$	227	$	738	$	1,398	$	2,233	$	4,656
Financed Service Contracts:
1 to 4	$	1	$	3	$	37	$	78	$	562	$	799	$	1,480
5 to 6	—		7		44		103		244		297		695
7 and Higher	—		—		2		7		2		—		11
Total Financed Service Contracts	$	1	$	10	$	83	$	188	$	808	$	1,096	$	2,186
Total	$	7	$	103	$	455	$	1,208	$	2,549	$	3,642	$	7,964


July 31, 2021			Fiscal Year
Internal Credit Risk Rating	Prior		July 29, 2017		July 28, 2018		July 27, 2019		July 25, 2020		July 31, 2021		Total
Lease Receivables:
1 to 4	$	2	$	20	$	100	$	168	$	282	$	227	$	799
5 to 6	1		17		65		187		285		231		786
7 and Higher	—		2		6		12		23		4		47
Total Lease Receivables	$	3	$	39	$	171	$	367	$	590	$	462	$	1,632
Loan Receivables:
1 to 4	$	4	$	86	$	134	$	577	$	990	$	1,552	$	3,343
5 to 6	—		19		75		202		505		925		1,726
7 and Higher	1		2		4		50		43		34		134
Total Loan Receivables	$	5	$	107	$	213	$	829	$	1,538	$	2,511	$	5,203
Financed Service Contracts:
1 to 4	$	—	$	38	$	26	$	106	$	252	$	1,053	$	1,475
5 to 6	—		6		26		105		302		520		959
7 and Higher	—		—		1		6		7		5		19
Total Financed Service Contracts	$	—	$	44	$	53	$	217	$	561	$	1,578	$	2,453
Total	$	8	$	190	$	437	$	1,413	$	2,689	$	4,551	$	9,288

Schedule of Aging Analysis of Financing Receivables

The following tables present the aging analysis of gross receivables as of July 30, 2022 and July 31, 2021 (in millions):


	DAYS PAST DUE (INCLUDES BILLED AND UNBILLED)
July 30, 2022	31 - 60		61 - 90		91+		Total Past Due		Current		Total		120+ Still Accruing		Nonaccrual Financing Receivables		Impaired Financing Receivables
Lease receivables	$	8	$	6	$	26	$	40	$	1,082	$	1,122	$	7	$	11	$	11
Loan receivables	72		36		48		156		4,500		4,656		8		58		58
Financed service contracts	26		26		81		133		2,053		2,186		6		2		2
Total	$	106	$	68	$	155	$	329	$	7,635	$	7,964	$	21	$	71	$	71


	DAYS PAST DUE (INCLUDES BILLED AND UNBILLED)
July 31, 2021	31 - 60		61 - 90		91+		Total Past Due		Current		Total		120+ Still Accruing		Nonaccrual Financing Receivables		Impaired Financing Receivables
Lease receivables	$	21	$	17	$	29	$	67	$	1,565	$	1,632	$	1	$	33	$	26
Loan receivables	71		17		35		123		5,080		5,203		4		33		33
Financed service contracts	18		13		18		49		2,404		2,453		3		3		3
Total	$	110	$	47	$	82	$	239	$	9,049	$	9,288	$	8	$	69	$	62

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		Total
Allowance for credit loss as of July 31, 2021	$	38	$	86	$	3	$	127
Provisions (benefits)	(13)		4		—		(9)
Recoveries (write-offs), net	(2)		—		—		(2)
Foreign exchange and other	—		10		—		10
Allowance for credit loss as of July 30, 2022	$	23	$	100	$	3	$	126


	CREDIT LOSS ALLOWANCES
	Lease Receivables		Loan Receivables		Financed Service Contracts		Total
Allowance for credit loss as of July 25, 2020	$	48	$	81	$	9	$	138
Provisions (benefits)	(10)		(12)		(5)		(27)
Recoveries (write-offs), net	(1)		(1)		—		(2)
Foreign exchange and other	1		18		(1)		18
Allowance for credit loss as of July 31, 2021	$	38	$	86	$	3	$	127


	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)	5		32		1		38
Recoveries (write-offs), net	(3)		(19)		—		(22)
Foreign exchange and other	—		(3)		(1)		(4)
Allowance for credit loss as of July 25, 2020	$	48	$	81	$	9	$	138