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Financing Receivables
 6 Months Ended
Jan. 25, 2025
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):
January 25, 2025Loan ReceivablesLease ReceivablesTotal
Gross$5,423 $988 $6,411 
Residual value— 64 64 
Unearned income— (102)(102)
Allowance for credit loss(45)(14)(59)
Total, net$5,378 $936 $6,314 
Reported as:
Current$2,728 $346 $3,074 
Noncurrent2,650 590 3,240 
Total, net$5,378 $936 $6,314 
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):
January 25, 2025Fiscal YearSix Months Ended
Internal Credit Risk RatingPriorJuly 31, 2021July 30, 2022July 29, 2023July 27, 2024January 25, 2025Total
Loan Receivables:
1 to 4$33 $193 $335 $639 $1,466 $728 $3,394 
5 to 614 52 89 321 862 627 1,965 
7 and Higher1 3 51 1 7 1 64 
Total Loan Receivables$48 $248 $475 $961 $2,335 $1,356 $5,423 
Lease Receivables:
1 to 4$3 $22 $39 $160 $226 $105 $555 
5 to 63 13 31 94 126 54 321 
7 and Higher— 1 1 3 5 — 10 
Total Lease Receivables$6 $36 $71 $257 $357 $159 $886 
Total$54 $284 $546 $1,218 $2,692 $1,515 $6,309 
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 January 25, 2025 and July 27, 2024 (in millions):
DAYS PAST DUE
(INCLUDES BILLED AND UNBILLED)
January 25, 202531-6061-90 91+Total
Past Due		CurrentTotal120+ Still AccruingNonaccrual
Financing
Receivables		Impaired
Financing
Receivables
Loan receivables$37 $16 $48 $101 $5,322 $5,423 $18 $10 $10 
Lease receivables14 4 8 26 860 886 2 1 1 
Total$51 $20 $56 $127 $6,182 $6,309 $20 $11 $11 
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 January 25, 2025CREDIT LOSS ALLOWANCES
Loan ReceivablesLease ReceivablesTotal
Allowance for credit loss as of October 26, 2024$49 $15 $64 
Provisions (benefits)(2)(2)(4)
Recoveries (write-offs), net(3)— (3)
Foreign exchange and other1 1 2 
Allowance for credit loss as of January 25, 2025$45 $14 $59 
Three Months Ended January 27, 2024CREDIT LOSS ALLOWANCES
Loan ReceivablesLease ReceivablesTotal
Allowance for credit loss as of October 28, 2023$58 $16 $74 
Provisions (benefits)(1)— (1)
Recoveries (write-offs), net(4)— (4)
Allowance for credit loss as of January 27, 2024$53 $16 $69 
Six Months Ended January 25, 2025CREDIT LOSS ALLOWANCES
Loan ReceivablesLease ReceivablesTotal
Allowance for credit loss as of July 27, 2024$50 $15 $65 
Provisions (benefits)(3)(2)(5)
Recoveries (write-offs), net(3)— (3)
Foreign exchange and other1 1 2 
Allowance for credit loss as of January 25, 2025$45 $14 $59 
Six Months Ended January 27, 2024CREDIT LOSS ALLOWANCES
Loan ReceivablesLease ReceivablesTotal
Allowance for credit loss as of July 29, 2023$53 $19 $72 
Provisions (benefits)4 (3)1 
Recoveries (write-offs), net(4)— (4)
Allowance for credit loss as of January 27, 2024$53 $16 $69