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Balance Sheet and Other Details
 3 Months Ended
Oct. 26, 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
October 26,
2024		July 27,
2024
Cash and cash equivalents$9,065 $7,508 
Restricted cash and restricted cash equivalents included in other current assets763 765 
Restricted cash and restricted cash equivalents included in other assets380 569 
Total$10,208 $8,842 
Our restricted cash and restricted cash equivalents are funds primarily related to contractual obligations with suppliers.
Inventories
October 26,
2024		July 27,
2024
Raw materials$1,885 $2,039 
Work in process100 83 
Finished goods945 1,027 
Service-related spares207 216 
Demonstration systems6 8 
Total$3,143 $3,373 
Property and Equipment, Net
October 26,
2024		July 27,
2024
Gross property and equipment:
Land, buildings, and building and leasehold improvements$4,267 $4,247 
Production, engineering, computer and other equipment and related software5,135 5,160 
Operating lease assets88 115 
Furniture, fixtures and other356 351 
Total gross property and equipment9,846 9,873 
Less: accumulated depreciation and amortization
(7,764)(7,783)
Total$2,082 $2,090 
Remaining Performance Obligations (RPO)
October 26,
2024		July 27,
2024
Product$19,882 $20,055 
Services20,108 20,993 
Total$39,990 $41,048 
Short-term RPO$20,310 $20,882 
Long-term RPO19,680 20,166 
Total$39,990 $41,048 
Amount to be recognized as revenue over the next 12 months
51 %51 %
Deferred revenue$27,502 $28,475 
Unbilled contract revenue12,488 12,573 
Total$39,990 $41,048 
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
October 26,
2024		July 27,
2024
Product$12,941 $13,219 
Services14,561 15,256 
Total$27,502 $28,475 
Reported as:
Current$15,615 $16,249 
Noncurrent11,887 12,226 
Total$27,502 $28,475 
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 Cuts and Jobs Act is as follows (in millions):
October 26,
2024		July 27,
2024
Current$1,819 $1,819 
Noncurrent1,595 2,273 
Total$3,414 $4,092 
Our noncurrent transition tax payable has been reduced to reflect the transition tax benefit of the U.S. Tax Court opinion in Varian Medical Systems, Inc. v. Commissioner. See Note 18.