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Balance Sheet and Other Details
 12 Months Ended
Jul. 27, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet and Other Details Balance Sheet and Other Details
The following tables provide details of selected balance sheet and other items (in millions, except percentages):
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents
July 27, 2024July 29, 2023
Cash and cash equivalents$7,508 $10,123 
Restricted cash and restricted cash equivalents included in other current assets765 191 
Restricted cash and restricted cash equivalents included in other assets569 1,313 
Total$8,842 $11,627 
Our restricted cash and restricted cash equivalents are funds primarily related to contractual obligations with suppliers.
Inventories
July 27, 2024July 29, 2023
Raw materials$2,039 $1,685 
Work in process83 264 
Finished goods1,027 1,493 
Service-related spares216 186 
Demonstration systems8 16 
Total$3,373 $3,644 
Property and Equipment, Net
July 27, 2024July 29, 2023
Gross property and equipment:
Land, buildings, and building and leasehold improvements$4,247 $4,229 
Production, engineering, computer and other equipment and related software5,160 5,355 
Operating lease assets115 135 
Furniture, fixtures and other351 339 
Total gross property and equipment9,873 10,058 
Less: accumulated depreciation and amortization(7,783)(7,973)
Total$2,090 $2,085 
Remaining Performance Obligations (RPO)
July 27, 2024July 29, 2023
Product$20,055 $15,802 
Services20,993 19,066 
Total$41,048 $34,868 
Short-term RPO$20,882 $17,910 
Long-term RPO20,166 16,958 
Total$41,048 $34,868 
Amount to be recognized as revenue over the next 12 months
51 %51 %
Deferred revenue$28,475 $25,550 
Unbilled contract revenue12,573 9,318 
Total$41,048 $34,868 
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.
Deferred Revenue
July 27, 2024July 29, 2023
Product$13,219 $11,505 
Services15,256 14,045 
Total$28,475 $25,550 
Reported as:
Current$16,249 $13,908 
Noncurrent12,226 11,642 
Total$28,475 $25,550 
Transition Tax Payable
Our income tax payable associated with the one-time U.S. transition tax on accumulated earnings for foreign subsidiaries as a result of the Tax Act is as follows (in millions):
July 27, 2024July 29, 2023
Current$1,819 $1,364 
Noncurrent2,273 4,092 
Total$4,092 $5,456 
Our noncurrent transition tax payable of $2.3 billion as of July 27, 2024 will be due in fiscal 2026.