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Financing Receivables
 3 Months Ended
Oct. 26, 2024
Receivables [Abstract]  
Financing Receivables Financing Receivables
(a)Financing Receivables
Financing receivables primarily consist of loan receivables and lease receivables. Loan receivables represent financing arrangements related to the sale of our hardware, software, and services (including technical support and advanced services), and also may include additional funding for other costs associated with network installation and integration of our products and services. Loan receivables have terms of one year to three years on average. Lease receivables represent sales-type leases resulting from the sale of Cisco’s and complementary third-party products and are typically collateralized by a security interest in the underlying assets. Lease receivables consist of arrangements with terms of four years on average.
A summary of our financing receivables is presented as follows (in millions):
October 26, 2024Loan ReceivablesLease ReceivablesTotal
Gross$5,583 $1,056 $6,639 
Residual value— 66 66 
Unearned income— (107)(107)
Allowance for credit loss(49)(15)(64)
Total, net$5,534 $1,000 $6,534 
Reported as:
Current$2,785 $338 $3,123 
Noncurrent2,749 662 3,411 
Total, net$5,534 $1,000 $6,534 
July 27, 2024Loan ReceivablesLease ReceivablesTotal
Gross$5,858 $965 $6,823 
Residual value— 67 67 
Unearned income— (111)(111)
Allowance for credit loss(50)(15)(65)
Total, net$5,808 $906 $6,714 
Reported as:
Current$3,071 $267 $3,338 
Noncurrent2,737 639 3,376 
Total, net$5,808 $906 $6,714 
(b)Credit Quality of Financing Receivables
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):
October 26, 2024Fiscal YearThree Months Ended
Internal Credit Risk RatingPriorJuly 31, 2021July 30, 2022July 29, 2023July 27, 2024October 26, 2024Total
Loan Receivables:
1 to 4$53 $256 $449 $736 $1,613 $504 $3,611 
5 to 620 65 107 360 939 404 1,895 
7 and Higher4 5 58 8 2 — 77 
Total Loan Receivables$77 $326 $614 $1,104 $2,554 $908 $5,583 
Lease Receivables:
1 to 4$7 $34 $50 $195 $276 $63 $625 
5 to 66 16 36 99 126 28 311 
7 and Higher— 1 2 4 6 — 13 
Total Lease Receivables$13 $51 $88 $298 $408 $91 $949 
Total$90 $377 $702 $1,402 $2,962 $999 $6,532 
July 27, 2024Fiscal Year
Internal Credit Risk RatingPriorJuly 25, 2020July 31, 2021July 30, 2022July 29, 2023July 27, 2024Total
Loan Receivables:
1 to 4$2 $78 $341 $555 $945 $1,803 $3,724 
5 to 62 29 127 130 426 1,314 2,028 
7 and Higher3 1 10 74 14 4 106 
Total Loan Receivables$7 $108 $478 $759 $1,385 $3,121 $5,858 
Lease Receivables:
1 to 4$1 $8 $38 $46 $176 $341 $610 
5 to 61 11 22 44 129 21 228 
7 and Higher— — 1 3 4 8 16 
Total Lease Receivables$2 $19 $61 $93 $309 $370 $854 
Total$9 $127 $539 $852 $1,694 $3,491 $6,712 
The following tables present the aging analysis of gross receivables as of October 26, 2024 and July 27, 2024 (in millions):
DAYS PAST DUE
(INCLUDES BILLED AND UNBILLED)
October 26, 202431-6061-90 91+Total
Past Due		CurrentTotal120+ Still AccruingNonaccrual
Financing
Receivables		Impaired
Financing
Receivables
Loan receivables$21 $30 $32 $83 $5,500 $5,583 $7 $7 $7 
Lease receivables21 5 5 31 918 949 4 — — 
Total$42 $35 $37 $114 $6,418 $6,532 $11 $7 $7 
DAYS PAST DUE
(INCLUDES BILLED AND UNBILLED)
July 27, 202431-6061-90 91+Total
Past Due		CurrentTotal120+ Still AccruingNonaccrual
Financing
Receivables		Impaired
Financing
Receivables
Loan receivables$34 $17 $35 $86 $5,772 $5,858 $14 $7 $7 
Lease receivables14 4 5 23 831 854 1 — — 
Total$48 $21 $40 $109 $6,603 $6,712 $15 $7 $7 
Past due financing receivables are those that are 31 days or more past due according to their contractual payment terms. The data in the preceding tables is presented by contract, and the aging classification of each contract is based on the oldest outstanding receivable, and therefore past due amounts also include unbilled and current receivables within the same contract.
(c)Allowance for Credit Loss Rollforward
The allowances for credit loss and the related financing receivables are summarized as follows (in millions):
Three Months Ended October 26, 2024CREDIT LOSS ALLOWANCES
Loan ReceivablesLease ReceivablesTotal
Allowance for credit loss as of July 27, 2024$50 $15 $65 
Provisions (benefits)(1)— (1)
Allowance for credit loss as of October 26, 2024$49 $15 $64 
Three Months Ended October 28, 2023CREDIT LOSS ALLOWANCES
Loan ReceivablesLease ReceivablesTotal
Allowance for credit loss as of July 29, 2023$53 $19 $72 
Provisions (benefits)5 (3)2 
Allowance for credit loss as of October 28, 2023$58 $16 $74