Cisco Systems (CSCO) 10-Q17 Nov 202021 Q1 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	3 Months Ended
Cover Page - shares	Oct. 24, 2020	Nov. 12, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 24, 2020
Document Transition Report	false
Entity File Number	0-18225
Entity Registrant Name	CISCO SYSTEMS, INC.
Entity Incorporation, State or Country Code	CA
Entity Tax Identification Number	77-0059951
Entity Address, Address Line One	170 West Tasman Drive
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95134
City Area Code	408
Local Phone Number	526-4000
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	CSCO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		4,225,514,401
Amendment Flag	false
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2021
Entity Central Index Key	0000858877
Current Fiscal Year End Date	--07-31

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Oct. 24, 2020	Jul. 25, 2020
Current assets:
Cash and cash equivalents	$ 10,822	$ 11,809
Investments	19,190	17,610
Accounts receivable, net of allowance for doubtful accounts of $125 at October 24, 2020 and $143 at July 25, 2020	3,980	5,472
Inventories	1,303	1,282
Financing receivables, net	5,105	5,051
Other current assets	2,589	2,349
Total current assets	42,989	43,573
Property and equipment, net	2,412	2,453
Financing receivables, net	5,516	5,714
Goodwill	34,535	33,806
Purchased intangible assets, net	1,581	1,576
Deferred tax assets	4,138	3,990
Other assets	3,832	3,741
TOTAL ASSETS	95,003	94,853
Current liabilities:
Short-term debt	5,002	3,005
Accounts payable	2,294	2,218
Income taxes payable	810	839
Accrued compensation	2,978	3,122
Deferred revenue	11,271	11,406
Other current liabilities	4,636	4,741
Total current liabilities	26,991	25,331
Long-term debt	9,564	11,578
Income taxes payable	8,786	8,837
Deferred revenue	9,202	9,040
Other long-term liabilities	2,303	2,147
Total liabilities	56,846	56,933
Commitments and contingencies (Note 14)
Cisco shareholders’ equity:
Preferred stock, no par value: 5 shares authorized; none issued and outstanding	0	0
Common stock and additional paid-in capital, $0.001 par value: 20,000 shares authorized; 4,222 and 4,237 shares issued and outstanding at October 24, 2020 and July 25, 2020, respectively	41,360	41,202
Accumulated deficit	(2,756)	(2,763)
Accumulated other comprehensive loss	(447)	(519)
Total equity	38,157	37,920
TOTAL LIABILITIES AND EQUITY	$ 95,003	$ 94,853

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Oct. 24, 2020	Jul. 25, 2020
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 125	$ 143
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	20,000,000,000	20,000,000,000
Common stock, shares issued (in shares)	4,222,000,000	4,237,000,000
Common stock, shares outstanding (in shares)	4,222,000,000	4,237,000,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019
REVENUE:
Total revenue	$ 11,929	$ 13,159
COST OF SALES:
Total cost of sales	4,348	4,695
GROSS MARGIN	7,581	8,464
OPERATING EXPENSES:
Research and development	1,612	1,666
Sales and marketing	2,217	2,480
General and administrative	544	519
Amortization of purchased intangible assets	36	36
Restructuring and other charges	602	184
Total operating expenses	5,011	4,885
OPERATING INCOME	2,570	3,579
Interest income	174	273
Interest expense	(112)	(178)
Other income (loss), net	49	12
Interest and other income (loss), net	111	107
INCOME BEFORE PROVISION FOR INCOME TAXES	2,681	3,686
Provision for income taxes	507	760
NET INCOME	$ 2,174	$ 2,926
Net income per share:
Basic (in dollars per share)	$ 0.51	$ 0.69
Diluted (in dollars per share)	$ 0.51	$ 0.68
Shares used in per-share calculation:
Basic (in shares)	4,230	4,246
Diluted (in shares)	4,244	4,273
Product
REVENUE:
Total revenue	$ 8,587	$ 9,878
COST OF SALES:
Total cost of sales	3,206	3,524
Services
REVENUE:
Total revenue	3,342	3,281
COST OF SALES:
Total cost of sales	$ 1,142	$ 1,171

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 2,174	$ 2,926
Available-for-sale investments:
Change in net unrealized gains and losses, net of tax benefit (expense) of $17 and $(14) for the first quarter of fiscal 2021 and 2020, respectively	(24)	73
Net (gains) losses reclassified into earnings, net of tax (benefit) expense of $5 for each of the first quarter of fiscal 2021 and 2020	(10)	(5)
Total- Available-for-sale investments	(34)	68
Cash flow hedging instruments:
Change in unrealized gains and losses, net of tax benefit (expense) of $0 and $1 for the first quarter of fiscal 2021 and 2020, respectively	(2)	0
Net (gains) losses reclassified into earnings, net of tax (benefit) expense of $1 and $0 for the first quarter of fiscal 2021 and 2020, respectively	(1)	0
Total- Cash flow hedging instruments	(3)	0
Net change in cumulative translation adjustment and actuarial gains and losses net of tax benefit (expense) of $(1) and $0 for the first quarter of fiscal 2021 and 2020, respectively	109	(91)
Other comprehensive income (loss)	72	(23)
Comprehensive income	$ 2,246	$ 2,903

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019
Statement of Comprehensive Income [Abstract]
Change in net unrealized gains, tax benefit (expense)	$ 17	$ (14)
Net (gains) losses reclassified into earnings, tax (benefit) expense	5	5
Change in unrealized gains and losses, tax benefit (expense)	0	1
Net (gains) losses reclassified into earnings, tax (benefit) expense	1	0
Net change in cumulative translation adjustment and actuarial gains and losses, tax benefit (expense)	$ (1)	$ 0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019
Cash flows from operating activities:
Net income	$ 2,174	$ 2,926
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization, and other	451	461
Share-based compensation expense	438	395
Provision for receivables	13	50
Deferred income taxes	(120)	81
(Gains) losses on divestitures, investments and other, net	(59)	(8)
Change in operating assets and liabilities, net of effects of acquisitions and divestitures:
Accounts receivable	1,526	515
Inventories	(21)	34
Financing receivables	167	146
Other assets	(259)	59
Accounts payable	73	(45)
Income taxes, net	(84)	(330)
Accrued compensation	(165)	(473)
Deferred revenue	(45)	158
Other liabilities	7	(382)
Net cash provided by operating activities	4,096	3,587
Cash flows from investing activities:
Purchases of investments	(3,756)	(2,028)
Proceeds from sales of investments	657	2,342
Proceeds from maturities of investments	1,425	1,966
Acquisitions and divestitures	(830)	(163)
Purchases of investments in privately held companies	(68)	(54)
Return of investments in privately held companies	29	57
Acquisition of property and equipment	(171)	(202)
Proceeds from sales of property and equipment	4	4
Net cash (used in) provided by investing activities	(2,710)	1,922
Cash flows from financing activities:
Issuances of common stock	1	2
Repurchases of common stock—repurchase program	(800)	(784)
Shares repurchased for tax withholdings on vesting of restricted stock units	(89)	(194)
Short-term borrowings, original maturities of 90 days or less, net	0	(3,470)
Repayments of debt	0	(2,720)
Dividends paid	(1,520)	(1,486)
Other	35	(16)
Net cash used in financing activities	(2,373)	(8,668)
Net decrease in cash, cash equivalents, and restricted cash	(987)	(3,159)
Cash, cash equivalents, and restricted cash, beginning of period	11,812	11,772
Cash, cash equivalents, and restricted cash, end of period	10,825	8,613
Supplemental cash flow information:
Cash paid for interest	160	204
Cash paid for income taxes, net	$ 710	$ 1,009

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) shares in Millions, $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Shares of Common Stock	Common Stock and Additional Paid-In Capital	Accumulated Deficit	Accumulated DeficitCumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Jul. 27, 2019			4,250
Beginning balance at Jul. 27, 2019	$ 33,571			$ 40,266	$ (5,903)		$ (792)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,926				2,926
Other comprehensive income (loss)	(23)						(23)
Issuance of common stock (in shares)			11
Issuance of common stock	$ 2			2
Repurchase of common stock (in shares)	(16)		(16)
Repurchase of common stock	$ (768)			(148)	(620)
Shares repurchased for tax withholdings on vesting of restricted stock units (in shares)			(4)
Shares repurchased for tax withholdings on vesting of restricted stock units	(194)			(194)
Cash dividends declared	(1,486)				(1,486)
Share-based compensation	395			395
Ending balance (in shares) at Oct. 26, 2019			4,241
Ending balance at Oct. 26, 2019	34,423			40,321	(5,083)		(815)
Beginning balance (in shares) at Jul. 25, 2020			4,237
Beginning balance at Jul. 25, 2020	37,920	$ (38)		41,202	(2,763)	$ (38)	(519)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,174				2,174
Other comprehensive income (loss)	72						72
Issuance of common stock (in shares)			7
Issuance of common stock	$ 1			1
Repurchase of common stock (in shares)	(20)		(20)
Repurchase of common stock	$ (800)			(192)	(608)
Shares repurchased for tax withholdings on vesting of restricted stock units (in shares)			(2)
Shares repurchased for tax withholdings on vesting of restricted stock units	(89)			(89)
Cash dividends declared	(1,521)				(1,521)
Share-based compensation	438			438
Ending balance (in shares) at Oct. 24, 2020			4,222
Ending balance at Oct. 24, 2020	$ 38,157			$ 41,360	$ (2,756)		$ (447)

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019
Statement of Stockholders' Equity [Abstract]
Cash dividends declared (in dollars per share)	$ 0.36	$ 0.35

Basis of Presentation

Basis of Presentation	3 Months Ended
Basis of Presentation	Oct. 24, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The fiscal year for Cisco Systems, Inc. (the “Company,” “Cisco,” “we,” “us,” or “our”) is the 52 or 53 weeks ending on the last Saturday in July. Fiscal 2021 is a 53-week fiscal year and fiscal 2020 was a 52-week fiscal year. The Consolidated Financial Statements include our accounts and those of our subsidiaries. All intercompany accounts and transactions have been eliminated. We conduct business globally and are primarily managed on a geographic basis in the following three geographic segments: the Americas; Europe, Middle East, and Africa (EMEA); and Asia Pacific, Japan, and China (APJC). We have prepared the accompanying financial data as of October 24, 2020 and for the first quarter of fiscal 2021 and 2020, without audit, pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) have been condensed or omitted pursuant to such rules and regulations. The July 25, 2020 Consolidated Balance Sheet was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States. However, we believe that the disclosures are adequate to make the information presented not misleading. These Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and the notes thereto included in our Annual Report on Form 10-K for the fiscal year ended July 25, 2020. The preparation of financial statements and related disclosures in conformity with GAAP requires us to make judgments, assumptions, and estimates that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. The inputs into certain of our judgments, assumptions, and estimates considered the economic implications of the COVID-19 pandemic on our critical and significant accounting estimates. The actual results that we experience may differ materially from our estimates. As the COVID-19 pandemic continues to develop, many of our estimates could require increased judgment and carry a higher degree of variability and volatility. As events continue to evolve our estimates may change materially in future periods. In the opinion of management, all normal recurring adjustments necessary to present fairly the consolidated balance sheet as of October 24, 2020, the results of operations, the statements of comprehensive income (loss), the statements of cash flows and the statements of equity for the first quarter of fiscal 2021 and 2020, as applicable, have been made. The results of operations for the first quarter of fiscal 2021 are not necessarily indicative of the operating results for the full fiscal year or any future periods. Our consolidated financial statements include our accounts and entities consolidated under the variable interest and voting models. The noncontrolling interests attributed to these investments, if any, are presented as a separate component from our equity in the equity section of the Consolidated Balance Sheets. The share of earnings attributable to the noncontrolling interests are not presented separately in the Consolidated Statements of Operations as these amounts are not material for any of the fiscal periods presented. Certain reclassifications have been made to the amounts in prior periods in order to conform to the current period’s presentation. We have evaluated subsequent events through the date that the financial statements were issued.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
Recent Accounting Pronouncements	Oct. 24, 2020
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements (a) New Accounting Updates Recently Adopted Credit Losses of Financial Instruments In June 2016, the FASB issued an accounting standard update that requires measurement and recognition of expected credit losses for financial assets held based on historical experience, current conditions, and reasonable and supportable forecasts that affect the collectibility of the reported amount. We adopted this standard at the beginning of our first quarter of fiscal 2021, applied it at the beginning of the period of adoption and did not restate prior periods. The standard primarily impacts our financial assets measured at amortized cost and available-for-sale debt securities. The standard did not have a material impact on our consolidated financial statements upon adoption. Our significant accounting policies have been updated as a result of adopting this standard are as follows: Allowance for Accounts Receivable, Contract Assets and Financing Receivables We estimate our allowances for credit losses using relevant available information from internal and external sources, related to past events, current conditions and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. When assessing for credit losses, we determine collectibility by pooling our assets with similar characteristics. The allowances for credit losses are each measured on a collective basis when similar risk characteristics exist. Our internal credit risk ratings are categorized as 1 through 10, with the lowest credit risk rating representing the highest quality. Our assets within each internal credit risk rating share similar risk characteristics and therefore are assessed as one portfolio segment for credit loss. Assets that do not share risk characteristics are evaluated on an individual basis. The allowances for credit losses are each measured by multiplying the exposure probability of default, the probability the asset will default within a given time frame, by the loss given default rate, the percentage of the asset not expected to be collected due to default, based on the pool of assets. Probability of default rates are published quarterly by third-party credit agencies. Adjustments to our internal credit risk ratings may take into account including, but not limited to, various customer-specific factors, the potential sovereign risk of the geographic locations in which the customer is operating and macroeconomic conditions. These factors are updated regularly or when facts and circumstances indicate that an update is deemed necessary. Available-for-Sale Debt Investments For our available-for-sale debt securities in an unrealized loss position, we determine whether a credit loss exists. In this assessment, we consider the extent to which the fair value is less than the amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If factors indicate a credit loss exists, an allowance for credit loss is recorded to other income (loss), net, limited by the amount that the fair value is less than the amortized cost basis. The amount of fair value change relating to all other factors will be recognized in other comprehensive income (OCI).

Revenue

Revenue	3 Months Ended
Revenue	Oct. 24, 2020
Revenue from Contract with Customer [Abstract]
Revenue	Revenue We enter into contracts with customers that can include various combinations of products and services which are generally distinct and accounted for as separate performance obligations. As a result, our contracts may contain multiple performance obligations. We determine whether arrangements are distinct based on whether the customer can benefit from the product or service on its own or together with other resources that are readily available and whether our commitment to transfer the product or service to the customer is separately identifiable from other obligations in the contract. We classify our hardware, perpetual software licenses, and software-as-a-service (SaaS) as distinct performance obligations. Term software licenses represent multiple obligations, which include software licenses and software maintenance. In transactions where we deliver hardware or software, we are typically the principal and we record revenue and costs of goods sold on a gross basis. We refer to our term software licenses, security software licenses, SaaS, and associated service arrangements as subscription offers. We recognize revenue upon transfer of control of promised goods or services in a contract with a customer in an amount that reflects the consideration we expect to receive in exchange for those products or services. Transfer of control occurs once the customer has the contractual right to use the product, generally upon shipment or once title and risk of loss has transferred to the customer. Transfer of control can also occur over time for software maintenance and services as the customer receives the benefit over the contract term. Our hardware and perpetual software licenses are distinct performance obligations where revenue is recognized upfront upon transfer of control. Term software licenses include multiple performance obligations where the term licenses are recognized upfront upon transfer of control, with the associated software maintenance revenue recognized ratably over the contract term as services and software updates are provided. SaaS arrangements do not include the right for the customer to take possession of the software during the term, and therefore have one distinct performance obligation which is satisfied over time with revenue recognized ratably over the contract term as the customer consumes the services. On our product sales, we record consideration from shipping and handling on a gross basis within net product sales. We record our revenue net of any associated sales taxes. An allowance for future sales returns is established based on historical trends in product return rates. The allowance for future sales returns as of October 24, 2020 and July 25, 2020 was $81 million and $79 million, respectively, and was recorded as a reduction of our accounts receivable and revenue. Significant Judgments Revenue is allocated among these performance obligations in a manner that reflects the consideration that we expect to be entitled to for the promised goods or services based on standalone selling prices (SSP). SSP is estimated for each distinct performance obligation and judgment may be required in their determination. The best evidence of SSP is the observable price of a product or service when we sell the goods separately in similar circumstances and to similar customers. In instances where SSP is not directly observable, we determine SSP using information that may include market conditions and other observable inputs. We apply judgment in determining the transaction price as we may be required to estimate variable consideration when determining the amount of revenue to recognize. Variable consideration includes potential contractual penalties and various rebate, cooperative marketing and other incentive programs that we offer to our distributors, channel partners and customers. When determining the amount of revenue to recognize, we estimate the expected usage of these programs, applying the expected value or most likely estimate and update the estimate at each reporting period as actual utilization becomes available. We also consider the customers' right of return in determining the transaction price, where applicable. We assess certain software licenses, such as for security software, that contain critical updates or upgrades which customers can download throughout the contract term. Without these updates or upgrades, the functionality of the software would diminish over a relatively short time period. These updates or upgrades provide the customer the full functionality of the purchased security software licenses and are required to maintain the security license's utility as the risks and threats in the environment are rapidly changing. In these circumstances, the revenue from these software arrangements is recognized as a single performance obligation satisfied over the contract term. (a) Disaggregation of Revenue We disaggregate our revenue into groups of similar products and services that depict the nature, amount, and timing of revenue and cash flows for our various offerings. The sales cycle, contractual obligations, customer requirements, and go-to-market strategies differ for each of our product categories, resulting in different economic risk profiles for each category. The following table presents this disaggregation of revenue (in millions): Three Months Ended October 24, October 26, Revenue: Infrastructure Platforms $ 6,341 $ 7,553 Applications 1,380 1,499 Security 861 816 Other Products 5 11 Total Product 8,587 9,878 Services 3,342 3,281 Total $ 11,929 $ 13,159 Amounts may not sum due to rounding. We have made certain reclassifications to the product revenue amounts for prior period to conform to the current year presentation. Infrastructure Platforms consist of our core networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities and transport and/or store data. These technologies consist of both hardware and software offerings, including software licenses and SaaS, that help our customers build networks, automate, orchestrate, integrate, and digitize data. We are shifting and expanding more of our business to software and subscriptions across our core networking portfolio. Our hardware and perpetual software in this category are distinct performance obligations where revenue is recognized upfront upon transfer of control. Term software licenses are multiple performance obligations where the term license is recognized upfront upon transfer of control with the associated software maintenance revenue recognized ratably over the contract term. SaaS arrangements in this category have one distinct performance obligation which is satisfied over time with revenue recognized ratably over the contract term. Applications consists of offerings that utilize the core networking and data center platforms to provide their functions. The products consist primarily of software offerings, including software licenses and SaaS, as well as hardware. Our perpetual software and hardware in this category are distinct performance obligations where revenue is recognized upfront upon transfer of control. Term software licenses are multiple performance obligations where the term license is recognized upfront upon transfer of control with the associated software maintenance revenue recognized ratably over the contract term. SaaS arrangements in this category have one distinct performance obligation which is satisfied over time with revenue recognized ratably over the contract term. Security primarily includes our network security, cloud and email security, identity and access management, advanced threat protection, and unified threat management products. These products consist of both hardware and software offerings, including software licenses and SaaS. Updates and upgrades for the term software licenses are critical for our software to perform its intended commercial purpose because of the continuous need for our software to secure our customers' network environments against frequent threats. Therefore, security software licenses are generally represented by a single distinct performance obligation with revenue recognized ratably over the contract term. Our hardware and perpetual software in this category are distinct performance obligations where revenue is recognized upfront upon transfer of control. SaaS arrangements in this category have one distinct performance obligation which is satisfied over time with revenue recognized ratably over the contract term. Other Products primarily includes our cloud and system management products. These products include both hardware and software licenses. Our offerings in this category are distinct performance obligations where revenue is recognized upfront upon transfer of control. In addition to our product offerings, we provide a broad range of service and support options for our customers, including technical support services and advanced services. Technical support services represent the majority of these offerings which are distinct performance obligations that are satisfied over time with revenue recognized ratably over the contract term. Advanced services are distinct performance obligations that are satisfied over time with revenue recognized as services are delivered. The sales arrangements as discussed above are typically made pursuant to customer purchase orders based on master purchase or partner agreements. Cash is received based on our standard payment terms which is typically 30 days. We provide financing arrangements to customers for all of our hardware, software and service offerings. Refer to Note 9 for additional information. For these arrangements, cash is typically received over time. (b) Contract Balances Accounts receivable, net was $4.0 billion as of October 24, 2020 compared to $5.5 billion as of July 25, 2020, as reported on the Consolidated Balance Sheet. Contract assets consist of unbilled receivables and are recorded when revenue is recognized in advance of scheduled billings to our customers. These amounts are primarily related to software and service arrangements where transfer of control has occurred but we have not yet invoiced. Our contract assets for these unbilled receivables, net of allowances, were $1.2 billion as of October 24, 2020 and July 25, 2020, and were included in other current assets and other assets. Gross contract assets by our internal risk ratings are summarized as follows (in millions): October 24, 1 to 4 $ 442 5 to 6 737 7 and Higher 119 Total $ 1,298 Contract liabilities consist of deferred revenue. Deferred revenue was $20.5 billion as of October 24, 2020 compared to $20.4 billion as of July 25, 2020. We recognized approximately $3.9 billion of revenue during the first quarter of fiscal 2021, that was included in the deferred revenue balance at July 25, 2020. (c) Capitalized Contract Acquisition Costs We capitalize direct and incremental costs incurred to acquire contracts, primarily sales commissions, for which the associated revenue is expected to be recognized in future periods. We incur these costs in connection with both initial contracts and renewals. These costs are initially deferred and typically amortized over the term of the customer contract which corresponds to the period of benefit. Deferred sales commissions were

Acquisitions and Divestitures

Acquisitions and Divestitures	3 Months Ended
Acquisitions and Divestitures	Oct. 24, 2020
Business Combinations [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures We completed three acquisitions during the first quarter of fiscal 2021. A summary of the allocation of the total purchase consideration is presented as follows (in millions): Purchase Consideration Net Tangible Assets Acquired (Liabilities Assumed) Purchased Intangible Assets Goodwill Total acquisitions (three in total) $ 878 $ 2 $ 210 $ 666 The total purchase consideration related to our acquisitions completed during the first quarter of fiscal 2021 consisted of cash consideration. The total cash and cash equivalents acquired from these acquisitions was approximately $34 million. Total transaction costs related to acquisition and divestiture activities were $4 million and $5 million for the first quarter of fiscal 2021 and 2020, respectively. These transaction costs were expensed as incurred in general and administrative expenses (“G&A”) in the Consolidated Statements of Operations. The goodwill generated from acquisitions completed during the first quarter of fiscal 2021 is primarily related to expected synergies. The goodwill is generally not deductible for income tax purposes. The Consolidated Financial Statements include the operating results of each acquisition from the date of acquisition. Pro forma results of operations and the revenue and net income subsequent to the acquisition date for the acquisitions completed during the first quarter of fiscal 2021 have not been presented because the effects of the acquisitions, individually and in the aggregate, were not material to our financial results. Pending Acquisition of Acacia Communications On July 9, 2019, we announced our intent to acquire Acacia Communications, Inc. (“Acacia”), a public fabless semiconductor company that develops, manufactures and sells high-speed coherent optical interconnect products that are designed to transform communications networks through improvements in performance, capacity and cost. Under the terms of the agreement, we have agreed to pay total consideration of approximately $2.6 billion, net of cash and marketable securities, to acquire Acacia. The acquisition is expected to close during the first half of fiscal 2021, subject to customary closing conditions and regulatory approvals. Upon close of the acquisition, revenue from Acacia will be included in our Infrastructure Platforms product category.

Goodwill and Purchased Intangib

Goodwill and Purchased Intangible Assets	3 Months Ended
Goodwill and Purchased Intangible Assets	Oct. 24, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Purchased Intangible Assets	Goodwill and Purchased Intangible Assets (a) Goodwill The following table presents the goodwill allocated to our reportable segments as of October 24, 2020 and during the first quarter of fiscal 2021 (in millions): Balance at July 25, 2020 Acquisitions Foreign Currency Translation and Other Balance at October 24, 2020 Americas $ 21,304 $ 393 $ 40 $ 21,737 EMEA 8,040 183 15 8,238 APJC 4,462 90 8 4,560 Total $ 33,806 $ 666 $ 63 $ 34,535 (b) Purchased Intangible Assets The following table presents details of our intangible assets acquired through acquisitions completed during the first quarter of fiscal 2021 (in millions, except years): FINITE LIVES INDEFINITE LIVES TOTAL TECHNOLOGY CUSTOMER OTHER IPR&D Weighted- Amount Weighted- Amount Weighted- Amount Amount Amount Total acquisitions (three in total) 3.9 $ 162 4.0 $ 42 2.0 $ 6 — $ 210 The following tables present details of our purchased intangible assets (in millions): October 24, 2020 Gross Accumulated Amortization Net Purchased intangible assets with finite lives: Technology $ 3,086 $ (2,104) $ 982 Customer relationships 797 (393) 404 Other 14 (5) 9 Total purchased intangible assets with finite lives 3,897 (2,502) 1,395 In-process research and development, with indefinite lives 186 — 186 Total $ 4,083 $ (2,502) $ 1,581 July 25, 2020 Gross Accumulated Amortization Net Purchased intangible assets with finite lives: Technology $ 3,298 $ (2,336) $ 962 Customer relationships 760 (365) 395 Other 26 (20) 6 Total purchased intangible assets with finite lives 4,084 (2,721) 1,363 In-process research and development, with indefinite lives 213 — 213 Total $ 4,297 $ (2,721) $ 1,576 Purchased intangible assets include intangible assets acquired through acquisitions as well as through direct purchases or licenses. The following table presents the amortization of purchased intangible assets, including impairment charges (in millions): Three Months Ended October 24, 2020 October 26, 2019 Amortization of purchased intangible assets: Cost of sales $ 170 $ 166 Operating expenses 36 36 Total $ 206 $ 202 The estimated future amortization expense of purchased intangible assets with finite lives as of October 24, 2020 is as follows (in millions): Fiscal Year Amount 2021 (remaining nine months) $ 487 2022 $ 431 2023 $ 286 2024 $ 170 2025 $ 15 Thereafter $ 6

Restructuring and Other Charges

Restructuring and Other Charges	3 Months Ended
Restructuring and Other Charges	Oct. 24, 2020
Restructuring Charges [Abstract]
Restructuring and Other Charges	Restructuring and Other Charges We initiated a restructuring plan in the first quarter of fiscal 2021 (the “Fiscal 2021 Plan”), which includes a voluntary early retirement program, in order to realign the organization and enable further investment in key priority areas. The total pretax charges are estimated to be approximately $900 million. In connection with the Fiscal 2021 Plan, we incurred charges of $602 million for the first quarter of fiscal 2021. We initiated a restructuring plan in fiscal 2020 (the “Fiscal 2020 Plan”) in order to realign the organization and enable further investment in key priority areas. The total pretax charges are estimated to be approximately $300 million. In connection with the Fiscal 2020 Plan, we have incurred cumulative charges of $255 million. The aggregate pretax charges related to these plans are primarily cash-based and consist of severance and other one-time termination benefits, and other costs. We expect to substantially complete both plans in fiscal 2021. The following tables summarize the activities related to the restructuring and other charges (in millions): FISCAL 2020 AND PRIOR PLANS FISCAL 2021 PLAN Employee Other Employee Other Total Liability as of July 25, 2020 $ 58 $ 14 $ — $ — $ 72 Charges — — 590 12 602 Cash payments (58) — (272) — (330) Non-cash items — — — (11) (11) Liability as of October 24, 2020 $ — $ 14 $ 318 $ 1 $ 333 FISCAL 2018 AND PRIOR PLANS Employee Other Total Liability as of July 27, 2019 $ 22 $ 11 $ 33 Charges 175 9 184 Cash payments (154) (1) (155) Non-cash items — (15) (15) Liability as of October 26, 2019 $ 43 $ 4 $ 47

Balance Sheet and Other Details

Balance Sheet and Other Details	3 Months Ended
Balance Sheet and Other Details	Oct. 24, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet and Other Financial Details	Balance Sheet and Other Details The following tables provide details of selected balance sheet and other items (in millions): October 24, July 25, Cash and cash equivalents $ 10,822 $ 11,809 Restricted cash included in other current assets 3 — Restricted cash included in other assets — 3 Total cash, cash equivalents, and restricted cash $ 10,825 $ 11,812 Inventories: Raw materials $ 380 $ 456 Work in process 19 25 Finished goods: Deferred cost of sales 54 59 Manufactured finished goods 646 542 Total finished goods 700 601 Service-related spares 191 184 Demonstration systems 13 16 Total $ 1,303 $ 1,282 Our provision for inventory was $29 million and $18 million for the first quarter of fiscal 2021 and 2020, respectively. Property and equipment, net: Gross property and equipment: Land, buildings, and building and leasehold improvements $ 4,273 $ 4,252 Computer equipment and related software 872 875 Production, engineering, and other equipment 5,157 5,163 Operating lease assets 338 337 Furniture, fixtures and other 385 387 Total gross property and equipment 11,025 11,014 Less: accumulated depreciation and amortization (8,613) (8,561) Total $ 2,412 $ 2,453 Deferred revenue: Product $ 8,139 $ 7,895 Service 12,334 12,551 Total $ 20,473 $ 20,446 Reported as: Current $ 11,271 $ 11,406 Noncurrent 9,202 9,040 Total $ 20,473 $ 20,446 Remaining Performance Obligations: Product $ 11,340 $ 11,261 Service 16,129 17,093 Total $ 27,469 $ 28,354 Remaining Performance Obligations (RPO) are comprised of deferred revenue plus unbilled contract revenue. As of October 24, 2020, the aggregate amount of RPO was comprised of $20.5 billion of deferred revenue and $7.0 billion of unbilled contract revenue. We expect approximately 53% of this amount of be recognized as revenue over the next year. As of July 25, 2020, the aggregate amount of RPO was comprised of $20.4 billion of deferred revenue and $7.9 billion of unbilled contract revenue. 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.

Leases

Leases	3 Months Ended
Leases	Oct. 24, 2020
Leases [Abstract]
Leases	Leases (a) Lessee Arrangements The following table presents our operating lease balances (in millions): Balance Sheet Line Item October 24, 2020 July 25, 2020 Operating lease right-of-use assets Other assets $ 953 $ 921 Operating lease liabilities Other current liabilities $ 332 $ 341 Operating lease liabilities Other long-term liabilities 695 661 Total operating lease liabilities $ 1,027 $ 1,002 The components of our lease expenses were as follows (in millions): Three Months Ended October 24, 2020 October 26, 2019 Operating lease expense $ 98 $ 113 Short-term lease expense 18 17 Variable lease expense 46 40 Total lease expense $ 162 $ 170 Supplemental information related to our operating leases is as follows (in millions): Three Months Ended October 24, 2020 October 26, 2019 Cash paid for amounts included in the measurement of lease liabilities — operating cash flows $ 105 $ 104 Right-of-use assets obtained in exchange for operating leases liabilities $ 115 $ 48 The weighted-average lease term was 4.2 years as of each of October 24, 2020 and October 26, 2019. The weighted-average discount rate was 1.3% and 1.9% as of October 24, 2020 and October 26, 2019, respectively. The maturities of our operating leases (undiscounted) as of October 24, 2020 are as follows (in millions): Fiscal Year Amount 2021 (remaining nine months) $ 272 2022 269 2023 211 2024 136 2025 81 Thereafter 87 Total lease payments 1,056 Less interest (29) Total $ 1,027 (b) Lessor Arrangements Our leases primarily represent sales-type leases with terms of four years on average. We provide leasing of our equipment and complementary third-party products primarily through our channel partners and distributors, for which the income arising from these leases is recognized through interest income. Interest income was $21 million and $26 million for the first quarter of fiscal 2021 and 2020, respectively, and was included in interest income in the Consolidated Statement of Operations. The net investment of our lease receivables is measured at the commencement date as the gross lease receivable, residual value less unearned income and allowance for credit loss. For additional information, see Note 9. Future minimum lease payments on our lease receivables as of October 24, 2020 are summarized as follows (in millions): Fiscal Year Amount 2021 (remaining nine months) $ 670 2022 664 2023 418 2024 202 2025 109 Total 2,063 Less: Present value of lease payments 1,958 Unearned income $ 105 Actual cash collections may differ from the contractual maturities due to early customer buyouts, refinancings, or defaults. We provide financing of certain equipment through operating leases, and the amounts are included in property and equipment in the Consolidated Balance Sheets. Amounts relating to equipment on operating lease assets held by Cisco and the associated accumulated depreciation are summarized as follows (in millions): October 24, 2020 July 25, 2020 Operating lease assets $ 338 $ 337 Accumulated depreciation (200) (198) Operating lease assets, net $ 138 $ 139 Our operating lease income was $43 million and $44 million for the first quarter of fiscal 2021 and 2020, respectively, and was included in product revenue in the Consolidated Statement of Operations. Minimum future rentals on noncancelable operating leases as of October 24, 2020 are summarized as follows (in millions): Fiscal Year Amount 2021 (remaining nine months) $ 58 2022 33 2023 12 2024 1 Total $ 104
Leases	Leases (a) Lessee Arrangements The following table presents our operating lease balances (in millions): Balance Sheet Line Item October 24, 2020 July 25, 2020 Operating lease right-of-use assets Other assets $ 953 $ 921 Operating lease liabilities Other current liabilities $ 332 $ 341 Operating lease liabilities Other long-term liabilities 695 661 Total operating lease liabilities $ 1,027 $ 1,002 The components of our lease expenses were as follows (in millions): Three Months Ended October 24, 2020 October 26, 2019 Operating lease expense $ 98 $ 113 Short-term lease expense 18 17 Variable lease expense 46 40 Total lease expense $ 162 $ 170 Supplemental information related to our operating leases is as follows (in millions): Three Months Ended October 24, 2020 October 26, 2019 Cash paid for amounts included in the measurement of lease liabilities — operating cash flows $ 105 $ 104 Right-of-use assets obtained in exchange for operating leases liabilities $ 115 $ 48 The weighted-average lease term was 4.2 years as of each of October 24, 2020 and October 26, 2019. The weighted-average discount rate was 1.3% and 1.9% as of October 24, 2020 and October 26, 2019, respectively. The maturities of our operating leases (undiscounted) as of October 24, 2020 are as follows (in millions): Fiscal Year Amount 2021 (remaining nine months) $ 272 2022 269 2023 211 2024 136 2025 81 Thereafter 87 Total lease payments 1,056 Less interest (29) Total $ 1,027 (b) Lessor Arrangements Our leases primarily represent sales-type leases with terms of four years on average. We provide leasing of our equipment and complementary third-party products primarily through our channel partners and distributors, for which the income arising from these leases is recognized through interest income. Interest income was $21 million and $26 million for the first quarter of fiscal 2021 and 2020, respectively, and was included in interest income in the Consolidated Statement of Operations. The net investment of our lease receivables is measured at the commencement date as the gross lease receivable, residual value less unearned income and allowance for credit loss. For additional information, see Note 9. Future minimum lease payments on our lease receivables as of October 24, 2020 are summarized as follows (in millions): Fiscal Year Amount 2021 (remaining nine months) $ 670 2022 664 2023 418 2024 202 2025 109 Total 2,063 Less: Present value of lease payments 1,958 Unearned income $ 105 Actual cash collections may differ from the contractual maturities due to early customer buyouts, refinancings, or defaults. We provide financing of certain equipment through operating leases, and the amounts are included in property and equipment in the Consolidated Balance Sheets. Amounts relating to equipment on operating lease assets held by Cisco and the associated accumulated depreciation are summarized as follows (in millions): October 24, 2020 July 25, 2020 Operating lease assets $ 338 $ 337 Accumulated depreciation (200) (198) Operating lease assets, net $ 138 $ 139 Our operating lease income was $43 million and $44 million for the first quarter of fiscal 2021 and 2020, respectively, and was included in product revenue in the Consolidated Statement of Operations. Minimum future rentals on noncancelable operating leases as of October 24, 2020 are summarized as follows (in millions): Fiscal Year Amount 2021 (remaining nine months) $ 58 2022 33 2023 12 2024 1 Total $ 104
Leases	Leases (a) Lessee Arrangements The following table presents our operating lease balances (in millions): Balance Sheet Line Item October 24, 2020 July 25, 2020 Operating lease right-of-use assets Other assets $ 953 $ 921 Operating lease liabilities Other current liabilities $ 332 $ 341 Operating lease liabilities Other long-term liabilities 695 661 Total operating lease liabilities $ 1,027 $ 1,002 The components of our lease expenses were as follows (in millions): Three Months Ended October 24, 2020 October 26, 2019 Operating lease expense $ 98 $ 113 Short-term lease expense 18 17 Variable lease expense 46 40 Total lease expense $ 162 $ 170 Supplemental information related to our operating leases is as follows (in millions): Three Months Ended October 24, 2020 October 26, 2019 Cash paid for amounts included in the measurement of lease liabilities — operating cash flows $ 105 $ 104 Right-of-use assets obtained in exchange for operating leases liabilities $ 115 $ 48 The weighted-average lease term was 4.2 years as of each of October 24, 2020 and October 26, 2019. The weighted-average discount rate was 1.3% and 1.9% as of October 24, 2020 and October 26, 2019, respectively. The maturities of our operating leases (undiscounted) as of October 24, 2020 are as follows (in millions): Fiscal Year Amount 2021 (remaining nine months) $ 272 2022 269 2023 211 2024 136 2025 81 Thereafter 87 Total lease payments 1,056 Less interest (29) Total $ 1,027 (b) Lessor Arrangements Our leases primarily represent sales-type leases with terms of four years on average. We provide leasing of our equipment and complementary third-party products primarily through our channel partners and distributors, for which the income arising from these leases is recognized through interest income. Interest income was $21 million and $26 million for the first quarter of fiscal 2021 and 2020, respectively, and was included in interest income in the Consolidated Statement of Operations. The net investment of our lease receivables is measured at the commencement date as the gross lease receivable, residual value less unearned income and allowance for credit loss. For additional information, see Note 9. Future minimum lease payments on our lease receivables as of October 24, 2020 are summarized as follows (in millions): Fiscal Year Amount 2021 (remaining nine months) $ 670 2022 664 2023 418 2024 202 2025 109 Total 2,063 Less: Present value of lease payments 1,958 Unearned income $ 105 Actual cash collections may differ from the contractual maturities due to early customer buyouts, refinancings, or defaults. We provide financing of certain equipment through operating leases, and the amounts are included in property and equipment in the Consolidated Balance Sheets. Amounts relating to equipment on operating lease assets held by Cisco and the associated accumulated depreciation are summarized as follows (in millions): October 24, 2020 July 25, 2020 Operating lease assets $ 338 $ 337 Accumulated depreciation (200) (198) Operating lease assets, net $ 138 $ 139 Our operating lease income was $43 million and $44 million for the first quarter of fiscal 2021 and 2020, respectively, and was included in product revenue in the Consolidated Statement of Operations. Minimum future rentals on noncancelable operating leases as of October 24, 2020 are summarized as follows (in millions): Fiscal Year Amount 2021 (remaining nine months) $ 58 2022 33 2023 12 2024 1 Total $ 104

Financing Receivables

Financing Receivables	3 Months Ended
Financing Receivables	Oct. 24, 2020
Receivables [Abstract]
Financing Receivables	Financing Receivables (a) Financing Receivables Financing receivables primarily consist of lease receivables, loan receivables, and financed service contracts. 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. Loan receivables represent financing arrangements related to the sale of our hardware, software, and services, which may include additional funding for other costs associated with network installation and integration of our products and services. Loan receivables have terms of three years on average. Financed service contracts include financing receivables related to technical support and advanced services. Revenue related to the technical support services is typically deferred and included in deferred service revenue and is recognized ratably over the period during which the related services are to be performed, which typically ranges from one A summary of our financing receivables is presented as follows (in millions): October 24, 2020 Lease Loan Financed Service Total Gross $ 2,063 $ 5,954 $ 2,744 $ 10,761 Residual value 119 — — 119 Unearned income (105) — — (105) Allowance for credit loss (46) (101) (7) (154) Total, net $ 2,031 $ 5,853 $ 2,737 $ 10,621 Reported as: Current $ 936 $ 2,733 $ 1,436 $ 5,105 Noncurrent 1,095 3,120 1,301 5,516 Total, net $ 2,031 $ 5,853 $ 2,737 $ 10,621 July 25, 2020 Lease Loan Financed Service Total Gross $ 2,127 $ 5,937 $ 2,830 $ 10,894 Residual value 123 — — 123 Unearned income (114) — — (114) Allowance for credit loss (48) (81) (9) (138) Total, net $ 2,088 $ 5,856 $ 2,821 $ 10,765 Reported as: Current $ 918 $ 2,692 $ 1,441 $ 5,051 Noncurrent 1,170 3,164 1,380 5,714 Total, net $ 2,088 $ 5,856 $ 2,821 $ 10,765 (b) Credit Quality of Financing Receivables Gross financing receivables (1) categorized by our internal credit risk rating by period of origination as of October 24, 2020 are summarized as follows (in millions): Fiscal Year Three Months Ended Internal Credit Risk Rating Prior July 29, 2017 July 28, 2018 July 27, 2019 July 25, 2020 October 24, 2020 Total Lease Receivables: 1 to 4 $ 17 $ 60 $ 166 $ 263 $ 389 $ 25 $ 920 5 to 6 17 65 151 300 389 54 976 7 and Higher 4 3 9 21 21 4 62 Total Lease Receivables $ 38 $ 128 $ 326 $ 584 $ 799 $ 83 $ 1,958 Loan Receivables: 1 to 4 $ 30 $ 170 $ 458 $ 858 $ 1,430 $ 793 $ 3,739 5 to 6 16 87 174 456 887 441 2,061 7 and Higher 3 3 9 72 62 5 154 Total Loan Receivables $ 49 $ 260 $ 641 $ 1,386 $ 2,379 $ 1,239 $ 5,954 Financed Service Contracts: 1 to 4 $ 4 $ 56 $ 88 $ 246 $ 555 $ 634 $ 1,583 5 to 6 2 36 73 285 465 267 1,128 7 and Higher — — 3 16 13 1 33 Total Financed Service Contracts $ 6 $ 92 $ 164 $ 547 $ 1,033 $ 902 $ 2,744 (1) Lease receivables calculated as gross lease receivables, excluding residual value, less unearned income The following table summarizes our gross receivables categorized by our internal credit risk rating as of July 25, 2020 and was not restated to reflect the impact of adoption of the accounting standards update on Credit Losses on Financial Instruments : INTERNAL CREDIT RISK RATING July 25, 2020 1 to 4 5 to 6 7 and Higher Total Lease receivables $ 992 $ 952 $ 69 $ 2,013 Loan receivables 3,808 1,961 168 5,937 Financed service contracts 1,645 1,153 32 2,830 Total $ 6,445 $ 4,066 $ 269 $ 10,780 The following tables present the aging analysis of gross receivables as of October 24, 2020 and July 25, 2020 (in millions): DAYS PAST DUE October 24, 2020 31-60 61-90 91+ Total Current Total 120+ Still Accruing Nonaccrual Impaired Lease receivables $ 45 $ 21 $ 103 $ 169 $ 1,789 $ 1,958 $ 4 $ 39 $ 39 Loan receivables 113 32 80 225 5,729 5,954 10 54 54 Financed service contracts 77 34 182 293 2,451 2,744 33 4 4 Total $ 235 $ 87 $ 365 $ 687 $ 9,969 $ 10,656 $ 47 $ 97 $ 97 DAYS PAST DUE July 25, 2020 31-60 61-90 91+ Total Current Total Nonaccrual Impaired Lease receivables $ 29 $ 47 $ 48 $ 124 $ 1,889 $ 2,013 $ 43 $ 43 Loan receivables 129 78 78 285 5,652 5,937 65 65 Financed service contracts 69 75 124 268 2,562 2,830 4 4 Total $ 227 $ 200 $ 250 $ 677 $ 10,103 $ 10,780 $ 112 $ 112 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. As of July 25, 2020, we had financing receivables of $67 million, net of unbilled or current receivables, that were greater than 120 days plus past due but remained on accrual status as they are well secured and in the process of collection. (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 24, 2020 CREDIT LOSS ALLOWANCES Lease Loan Financed Service Total Allowance for credit loss as of July 25, 2020 $ 48 $ 81 $ 9 $ 138 Provisions (benefits) (3) 3 (1) (1) Other 1 17 (1) 17 Allowance for credit loss as of October 24, 2020 $ 46 $ 101 $ 7 $ 154 Three months ended October 26, 2019 CREDIT LOSS ALLOWANCES Lease Loan Financed Service Total Allowance for credit loss as of July 27, 2019 $ 46 $ 71 $ 9 $ 126 Provisions (benefits) (3) 27 — 24 Recoveries (write-offs), net — (16) — (16) Foreign exchange and other — (1) — (1) Allowance for credit loss as of October 26, 2019 $ 43 $ 81 $ 9 $ 133

Available-for-Sale Debt and Equ

Available-for-Sale Debt and Equity Investments	3 Months Ended
Available-for-Sale Debt and Equity Investments	Oct. 24, 2020
Investments, Debt and Equity Securities [Abstract]
Available-for-Sale Debt and Equity Investments	Available-for-Sale Debt and Equity Investments (a) Summary of Available-for-Sale Debt Investments The following tables summarize our available-for-sale debt investments (in millions): October 24, 2020 Amortized Gross Gross Fair U.S. government securities $ 2,656 $ 61 $ — $ 2,717 U.S. government agency securities 178 — — 178 Corporate debt securities 11,266 298 (27) 11,537 U.S. agency mortgage-backed securities 2,494 41 (6) 2,529 Commercial paper 1,712 — — 1,712 Certificates of deposit 517 — — 517 Total (1) $ 18,823 $ 400 $ (33) $ 19,190 July 25, 2020 Amortized Gross Gross Fair U.S. government securities $ 2,614 $ 71 $ — $ 2,685 U.S. government agency securities 110 — — 110 Corporate debt securities 11,549 334 (6) 11,877 U.S. agency mortgage-backed securities 1,987 49 (1) 2,035 Commercial paper 727 — — 727 Certificates of deposit 176 — — 176 Total $ 17,163 $ 454 $ (7) $ 17,610 (1) Net unsettled investment sales were $57 million as of October 24, 2020 and were included in other current assets. The following table presents the gross realized gains and gross realized losses related to available-for-sale debt investments (in millions): Three Months Ended October 24, 2020 October 26, 2019 Gross realized gains $ 15 $ 12 Gross realized losses — (2) Total $ 15 $ 10 The following tables present the breakdown of the available-for-sale debt investments with gross unrealized losses and the duration that those losses had been unrealized at October 24, 2020 and July 25, 2020 (in millions): UNREALIZED LOSSES UNREALIZED LOSSES TOTAL October 24, 2020 Fair Value Gross Fair Value Gross Fair Value Gross U.S. government securities $ 144 $ — $ — $ — $ 144 $ — U.S. government agency securities 65 — — — 65 — Corporate debt securities 1,008 (2) — — 1,008 (2) U.S. agency mortgage-backed securities 1,076 (6) — — 1,076 (6) Certificates of deposit 15 — — — 15 — Total $ 2,308 $ (8) $ — $ — $ 2,308 $ (8) UNREALIZED LOSSES UNREALIZED LOSSES TOTAL July 25, 2020 Fair Value Gross Fair Value Gross Fair Value Gross U.S. government agency securities $ 33 $ — $ — $ — $ 33 $ — Corporate debt securities 1,060 (6) 3 — 1,063 (6) U.S. agency mortgage-backed securities 265 (1) — — 265 (1) Total $ 1,358 $ (7) $ 3 $ — $ 1,361 $ (7) The following table summarizes the maturities of our available-for-sale debt investments as of October 24, 2020 (in millions): Amortized Cost Fair Value Within 1 year $ 7,480 $ 7,490 After 1 year through 5 years 6,897 7,052 After 5 years through 10 years 1,943 2,109 After 10 years 9 10 Mortgage-backed securities with no single maturity 2,494 2,529 Total $ 18,823 $ 19,190 Actual maturities may differ from the contractual maturities because borrowers may have the right to call or prepay certain obligations. (b) Summary of Equity Investments Our net adjustments to non-marketable equity securities measured using the measurement alternative was a net gain of $1 million and a net loss of $1 million for the first quarter of fiscal 2021 and 2020, respectively. We held equity interests in certain private equity funds of $0.7 billion as of each of October 24, 2020 and July 25, 2020, which are accounted for under the NAV practical expedient. (c) Variable Interest Entities In the ordinary course of business, we have investments in privately held companies and provide financing to certain customers. These privately held companies and customers are evaluated for consolidation under the variable interest or voting interest entity models. We evaluate on an ongoing basis our investments in these privately held companies and our customer financings, and have determined that as of October 24, 2020, except as disclosed herein, there were no significant variable interest or voting interest entities required to be consolidated in our Consolidated Financial Statements. The carrying value of our investments in privately held companies was $1.4 billion and $1.3 billion as of October 24, 2020 and July 25, 2020, respectively. Of the total carrying value of our investments in privately held companies as of October 24, 2020, $0.7 billion of such investments are considered to be in variable interest entities which are unconsolidated. We have total funding commitments of $0.3 billion related to these privately held investments, some of which may be based on the achievement of certain agreed-upon milestones, and some of which are required to be funded on demand. The carrying value of these investments and the additional funding commitments collectively represent our maximum exposure related to these privately held investments.

Fair Value

Fair Value	3 Months Ended
Fair Value	Oct. 24, 2020
Fair Value Disclosures [Abstract]
Fair Value	Fair Value Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be either recorded or disclosed at fair value, we consider the principal or most advantageous market in which we would transact, and we also consider assumptions that market participants would use when pricing the asset or liability. (a) Fair Value Hierarchy The accounting guidance for fair value measurement requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is as follows: Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability, such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. (b) Assets and Liabilities Measured at Fair Value on a Recurring Basis Assets and liabilities measured at fair value on a recurring basis were as follows (in millions): OCTOBER 24, 2020 JULY 25, 2020 FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 8,634 $ — $ — $ 8,634 $ 10,024 $ — $ — $ 10,024 Corporate debt securities — 4 — 4 — 8 — 8 Commercial paper — 120 — 120 — — — — Available-for-sale debt investments: U.S. government securities — 2,717 — 2,717 — 2,685 — 2,685 U.S. government agency securities — 178 — 178 — 110 — 110 Corporate debt securities — 11,537 — 11,537 — 11,877 — 11,877 U.S. agency mortgage-backed securities — 2,529 — 2,529 — 2,035 — 2,035 Commercial paper — 1,712 — 1,712 — 727 — 727 Certificates of deposit — 517 — 517 — 176 — 176 Assets: Derivative assets — 179 3 182 — 190 1 191 Total $ 8,634 $ 19,493 $ 3 $ 28,130 $ 10,024 $ 17,808 $ 1 $ 27,833 Liabilities: Derivative liabilities $ — $ 22 $ — $ 22 $ — $ 10 $ — $ 10 Total $ — $ 22 $ — $ 22 $ — $ 10 $ — $ 10 Level 1 marketable securities are determined by using quoted prices in active markets for identical assets. Level 2 available-for-sale debt investments are priced using quoted market prices for similar instruments or nonbinding market prices that are corroborated by observable market data. We use inputs such as actual trade data, benchmark yields, broker/dealer quotes, and other similar data, which are obtained from quoted market prices, independent pricing vendors, or other sources, to determine the ultimate fair value of these assets and liabilities. We use such pricing data as the primary input to make our assessments and determinations as to the ultimate valuation of our investment portfolio and have not made, during the periods presented, any material adjustments to such inputs. We are ultimately responsible for the financial statements and underlying estimates. Our derivative instruments are primarily classified as Level 2, as they are not actively traded and are valued using pricing models that use observable market inputs. We did not have any transfers between Level 1 and Level 2 fair value measurements during the periods presented. Level 3 assets include certain derivative instruments, the values of which are determined based on discounted cash flow models using inputs that we could not corroborate with market data. (c) Assets Measured at Fair Value on a Nonrecurring Basis The carrying value of our non-marketable equity securities recorded to fair value on a non-recurring basis is adjusted for observable transactions for identical or similar investments of the same issuer or impairment. These securities are classified as Level 3 in the fair value hierarchy because we estimate the value based on valuation methods using the observable transaction price at the transaction date and other unobservable inputs such as volatility, rights, and obligations of the securities we hold. (d) Other Fair Value Disclosures The fair value of our short-term loan receivables and financed service contracts approximates their carrying value due to their short duration. The aggregate carrying value of our long-term loan receivables and financed service contracts as of October 24, 2020 and July 25, 2020 was $4.4 billion and $4.5 billion, respectively. The estimated fair value of our long-term loan receivables and financed service contracts approximates their carrying value. We use significant unobservable inputs in determining discounted cash flows to estimate the fair value of our long-term loan receivables and financed service contracts, and therefore they are categorized as Level 3.

Borrowings

Borrowings	3 Months Ended
Borrowings	Oct. 24, 2020
Debt Disclosure [Abstract]
Borrowings	Borrowings (a) Short-Term Debt The following table summarizes our short-term debt (in millions, except percentages): October 24, 2020 July 25, 2020 Amount Effective Rate Amount Effective Rate Current portion of long-term debt $ 5,002 2.00 % $ 3,005 2.07 % We have a short-term debt financing program of up to $10.0 billion through the issuance of commercial paper notes. We use the proceeds from the issuance of commercial paper notes for general corporate purposes. The effective rates for the short- and long-term debt include the interest on the notes, the accretion of the discount, the issuance costs, and, if applicable, adjustments related to hedging. (b) Long-Term Debt The following table summarizes our long-term debt (in millions, except percentages): October 24, 2020 July 25, 2020 Maturity Date Amount Effective Rate Amount Effective Rate Senior notes: Fixed-rate notes: 2.20% February 28, 2021 $ 2,500 2.30% $ 2,500 2.30% 2.90% March 4, 2021 500 0.91% 500 0.94% 1.85% September 20, 2021 2,000 1.90% 2,000 1.90% 3.00% June 15, 2022 500 1.19% 500 1.21% 2.60% February 28, 2023 500 2.68% 500 2.68% 2.20% September 20, 2023 750 2.27% 750 2.27% 3.625% March 4, 2024 1,000 1.03% 1,000 1.06% 3.50% June 15, 2025 500 1.35% 500 1.37% 2.95% February 28, 2026 750 3.01% 750 3.01% 2.50% September 20, 2026 1,500 2.55% 1,500 2.55% 5.90% February 15, 2039 2,000 6.11% 2,000 6.11% 5.50% January 15, 2040 2,000 5.67% 2,000 5.67% Total 14,500 14,500 Unaccreted discount/issuance costs (86) (88) Hedge accounting fair value adjustments 152 171 Total $ 14,566 $ 14,583 Reported as: Current portion of long-term debt $ 5,002 $ 3,005 Long-term debt 9,564 11,578 Total $ 14,566 $ 14,583 We have entered into interest rate swaps in prior periods with an aggregate notional amount of $2.5 billion designated as fair value hedges of certain of our fixed-rate senior notes. These swaps convert the fixed interest rates of the fixed-rate notes to floating interest rates based on the London InterBank Offered Rate (“LIBOR”). The gains and losses related to changes in the fair value of the interest rate swaps substantially offset changes in the fair value of the hedged portion of the underlying debt that are attributable to the changes in market interest rates. For additional information, see Note 13. Interest is payable semiannually on each class of the senior fixed-rate notes. Each of the senior fixed-rate notes is redeemable by us at any time, subject to a make-whole premium. The senior notes rank at par with the commercial paper notes that may be issued in the future pursuant to our short-term debt financing program, as discussed above under “(a) Short-Term Debt.” As of October 24, 2020, we were in compliance with all debt covenants. As of October 24, 2020, future principal payments for long-term debt, including the current portion, are summarized as follows (in millions): Fiscal Year Amount 2021 (remaining nine months) $ 3,000 2022 2,500 2023 500 2024 1,750 2025 500 Thereafter 6,250 Total $ 14,500 (c) Credit Facility On May 15, 2020, we entered into a 364-day credit agreement with certain institutional lenders that provides for a $2.75 billion unsecured revolving credit facility that is scheduled to expire on May 14, 2021. The credit agreement is structured as an amendment and restatement of our five-year credit facility which would have terminated on May 15, 2020, the end of its five-year term. As of October 24, 2020, we were in compliance with the required interest coverage ratio and the other covenants, and we had not borrowed any funds under the credit facility.

Derivative Instruments

Derivative Instruments	3 Months Ended
Derivative Instruments	Oct. 24, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments (a) Summary of Derivative Instruments We use derivative instruments primarily to manage exposures to foreign currency exchange rate, interest rate, and equity price risks. Our primary objective in holding derivatives is to reduce the volatility of earnings and cash flows associated with changes in foreign currency exchange rates, interest rates, and equity prices. Our derivatives expose us to credit risk to the extent that the counterparties may be unable to meet the terms of the agreement. We do, however, seek to mitigate such risks by limiting our counterparties to major financial institutions. In addition, the potential risk of loss with any one counterparty resulting from this type of credit risk is monitored. Management does not expect material losses as a result of defaults by counterparties. The fair values of our derivative instruments and the line items on the Consolidated Balance Sheets to which they were recorded are summarized as follows (in millions): DERIVATIVE ASSETS DERIVATIVE LIABILITIES Balance Sheet Line Item October 24, July 25, Balance Sheet Line Item October 24, July 25, Derivatives designated as hedging instruments: Foreign currency derivatives Other current assets $ 11 $ 7 Other current liabilities $ 10 $ 2 Interest rate derivatives Other current assets 4 6 Other current liabilities — — Interest rate derivatives Other assets 151 169 Other long-term liabilities — — Total 166 182 10 2 Derivatives not designated as hedging instruments: Foreign currency derivatives Other current assets 13 8 Other current liabilities 11 8 Equity derivatives Other current assets — — Other current liabilities 1 — Equity derivatives Other assets 3 1 Other long-term liabilities — — Total 16 9 12 8 Total $ 182 $ 191 $ 22 $ 10 The following amounts were recorded on the Consolidated Balance Sheets related to cumulative basis adjustments for our fair value hedges (in millions): CARRYING AMOUNT OF THE HEDGED ASSETS/(LIABILITIES) CUMULATIVE AMOUNT OF FAIR VALUE HEDGING ADJUSTMENT INCLUDED IN THE CARRYING AMOUNT OF THE HEDGED ASSETS/LIABILITIES Balance Sheet Line Item of Hedged Item October 24, July 25, October 24, July 25, Short-term debt $ (504) $ (506) $ (4) $ (6) Long-term debt $ (2,143) $ (2,159) $ (148) $ (165) The effect of derivative instruments designated as fair value hedges, recognized in interest and other income (loss), net is summarized as follows (in millions): Three Months Ended October 24, 2020 October 26, 2019 Interest rate derivatives: Hedged items $ 19 $ (21) Derivatives designated as hedging instruments (20) 22 Total $ (1) $ 1 The effect on the Consolidated Statements of Operations of derivative instruments not designated as hedges is summarized as follows (in millions): GAINS (LOSSES) FOR THE Derivatives Not Designated as Line Item in Statements of Operations October 24, October 26, Foreign currency derivatives Other income (loss), net $ 14 $ (7) Total return swaps—deferred compensation Operating expenses and other 23 — Equity derivatives Other income (loss), net 5 2 Total $ 42 $ (5) The notional amounts of our outstanding derivatives are summarized as follows (in millions): October 24, July 25, Foreign currency derivatives $ 4,338 $ 4,315 Interest rate derivatives 2,500 2,500 Total return swaps—deferred compensation 621 580 Total $ 7,459 $ 7,395 (b) Offsetting of Derivative Instruments We present our derivative instruments at gross fair values in the Consolidated Balance Sheets. However, our master netting and other similar arrangements with the respective counterparties allow for net settlement under certain conditions, which are designed to reduce credit risk by permitting net settlement with the same counterparty. As of October 24, 2020 and July 25, 2020, the potential effects of these rights of set-off associated with the derivative contracts would be a reduction to both derivative assets and derivative liabilities of $20 million and $10 million, respectively. To further limit credit risk, we also enter into collateral security arrangements related to certain derivative instruments whereby cash is posted as collateral between the counterparties based on the fair market value of the derivative instrument. Under these collateral security arrangements, the net cash collateral received as of October 24, 2020 and July 25, 2020 was $157 million and $173 million, respectively. Including the effects of collateral, this results in a net derivative asset of $3 million and $8 million as of October 24, 2020 and July 25, 2020, respectively. (c) Foreign Currency Exchange Risk We conduct business globally in numerous currencies. Therefore, we are exposed to adverse movements in foreign currency exchange rates. To limit the exposure related to foreign currency changes, we enter into foreign currency contracts. We do not enter into such contracts for speculative purposes. We hedge forecasted foreign currency transactions related to certain revenues, operating expenses and service cost of sales with currency options and forward contracts. These currency options and forward contracts, designated as cash flow hedges, generally have maturities of less than 24 months. The derivative instrument’s gain or loss is initially reported as a component of accumulated other comprehensive income (“AOCI”) and subsequently reclassified into earnings when the hedged exposure affects earnings. During the periods presented, we did not discontinue any cash flow hedges for which it was probable that a forecasted transaction would not occur. We enter into foreign exchange forward and option contracts to reduce the short-term effects of foreign currency fluctuations on assets and liabilities such as foreign currency receivables, including long-term customer financings and payables. These derivatives are not designated as hedging instruments. Gains and losses on the contracts are included in other income (loss), net, and substantially offset foreign exchange gains and losses from the remeasurement of intercompany balances, other current assets, or liabilities denominated in currencies other than the functional currency of the reporting entity. We hedge certain net investments in our foreign operations with forward contracts to reduce the effects of foreign currency fluctuations on our net investment in those foreign subsidiaries. These derivative instruments generally have maturities of up to six months. (d) Interest Rate Risk Interest Rate Derivatives Designated as Fair Value Hedges, Long-Term Debt We hold interest rate swaps designated as fair value hedges related to fixed-rate senior notes that are due in fiscal 2021 through 2025. Under these interest rate swaps, we receive fixed-rate interest payments and make interest payments based on LIBOR plus a fixed number of basis points. The effect of such swaps is to convert the fixed interest rates of the senior fixed-rate notes to floating interest rates based on LIBOR. The gains and losses related to changes in the fair value of the interest rate swaps are included in interest expense and substantially offset changes in the fair value of the hedged portion of the underlying debt that are attributable to the changes in market interest rates. (e) Equity Price Risk We may hold marketable equity securities in our portfolio that are subject to price risk. To diversify our overall portfolio, we also hold equity derivatives that are not designated as accounting hedges. The change in the fair value of each of these investment types are included in other income (loss), net.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Oct. 24, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies (a) Purchase Commitments with Contract Manufacturers and Suppliers We purchase components from a variety of suppliers and use several contract manufacturers to provide manufacturing services for our products. During the normal course of business, in order to manage manufacturing lead times and help ensure adequate component supply, we enter into agreements with contract manufacturers and suppliers that either allow them to procure inventory based upon criteria as defined by us or establish the parameters defining our requirements. A significant portion of our reported purchase commitments arising from these agreements consists of firm, noncancelable, and unconditional commitments. Certain of these purchase commitments with contract manufacturers and suppliers relate to arrangements to secure long-term pricing for certain product components for multi-year periods. In certain instances, these agreements allow us the option to cancel, reschedule, and adjust our requirements based on our business needs prior to firm orders being placed. As of October 24, 2020 and July 25, 2020, we had total purchase commitments for inventory of $4.2 billion and $4.4 billion, respectively. We record a liability for firm, noncancelable, and unconditional purchase commitments for quantities in excess of our future demand forecasts consistent with the valuation of our excess and obsolete inventory. As of October 24, 2020 and July 25, 2020, the liability for these purchase commitments was $157 million and $141 million, respectively, and was included in other current liabilities. The provision for the liability related to purchase commitments with contract manufacturers and suppliers was $32 million and $29 million for the first quarter of fiscal 2021 and 2020, respectively. (b) Other Commitments In connection with our acquisitions, we have agreed to pay certain additional amounts contingent upon the achievement of certain agreed-upon technology, development, product, or other milestones or upon the continued employment with Cisco of certain employees of the acquired entities. The following table summarizes the compensation expense related to acquisitions (in millions): Three Months Ended October 24, 2020 October 26, 2019 Compensation expense related to acquisitions $ 57 $ 61 As of October 24, 2020, we estimated that future cash compensation expense of up to $495 million may be required to be recognized pursuant to the applicable business combination agreements. We also have certain funding commitments, primarily related to our non-marketable equity and other investments, some of which are based on the achievement of certain agreed-upon milestones, and some of which are required to be funded on demand. The funding commitments were $0.3 billion as of each of October 24, 2020 and July 25, 2020. (c) Product Warranties The following table summarizes the activity related to the product warranty liability (in millions): Three Months Ended October 24, October 26, Balance at beginning of period $ 331 $ 342 Provisions for warranties issued 121 140 Adjustments for pre-existing warranties 1 (3) Settlements (122) (149) Balance at end of period $ 331 $ 330 We accrue for warranty costs as part of our cost of sales based on associated material product costs, labor costs for technical support staff, and associated overhead. Our products are generally covered by a warranty for periods ranging from 90 days to five years, and for some products we provide a limited lifetime warranty. (d) Financing and Other Guarantees In the ordinary course of business, we provide financing guarantees for various third-party financing arrangements extended to channel partners and end-user customers. Payments under these financing guarantee arrangements were not material for the periods presented. Channel Partner Financing Guarantees We facilitate arrangements for third-party financing extended to channel partners, consisting of revolving short-term financing, with payment terms generally ranging from 60 to 90 days. During fiscal 2020, we expanded the payment terms on certain of our channel partner financing programs by 30 days in response to the COVID-19 pandemic. These financing arrangements facilitate the working capital requirements of the channel partners, and, in some cases, we guarantee a portion of these arrangements. The volume of channel partner financing was $6.1 billion and $7.6 billion for the first quarter of fiscal 2021 and 2020, respectively. The balance of the channel partner financing subject to guarantees was $1.3 billion and $1.1 billion as of October 24, 2020 and July 25, 2020, respectively. End-User Financing Guarantees We also provide financing guarantees for third-party financing arrangements extended to end-user customers related to leases and loans, which typically have terms of up to three years. The volume of financing provided by third parties for leases and loans as to which we had provided guarantees was $5 million for each of the first quarters of fiscal 2021 and 2020. Financing Guarantee Summary The aggregate amounts of financing guarantees outstanding at October 24, 2020 and July 25, 2020, representing the total maximum potential future payments under financing arrangements with third parties along with the related deferred revenue, are summarized in the following table (in millions): October 24, July 25, Maximum potential future payments relating to financing guarantees: Channel partner $ 193 $ 198 End user 8 9 Total $ 201 $ 207 Deferred revenue associated with financing guarantees: Channel partner $ (25) $ (19) End user (8) (9) Total $ (33) $ (28) Total $ 168 $ 179 (e) Indemnifications In the normal course of business, we indemnify other parties, including customers, lessors, and parties to other transactions with us, with respect to certain matters. We have agreed to indemnify against losses arising from a breach of representations or covenants or out of intellectual property infringement or other claims made against certain parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. Charter Communications, Inc. (“Charter”), which acquired Time Warner Cable (“TWC”) in May 2016, is seeking indemnification from us for a final judgment obtained by Sprint Communications Company, L.P. (“Sprint”) against TWC in federal court in Kansas. Sprint sought monetary damages, alleging that TWC infringed certain Sprint patents by offering VoIP telephone services utilizing products provided by us generally in combination with those of other manufacturers. Following a trial on March 3, 2017, a jury in Kansas found that TWC willfully infringed five Sprint patents and awarded Sprint $139.8 million in damages. The Court awarded Sprint pre and post judgment interest of approximately $10 million and denied TWC’s post-trial motions and appeals. Charter reported that it paid the judgment in full. At this time, we are working with Charter to calculate the correct amount of indemnification. We do not believe that our indemnity obligations under our agreement will be material. We also have been asked to indemnify certain of our service provider customers that have been subject to patent infringement claims asserted by Chanbond, LLC (“Chanbond”) in the United States District Court for the District of Delaware on September 21, 2015. Chanbond alleges that 13 service provider companies, including among others, Comcast Corporation, Charter Communications, Inc. (“Charter”), Time Warner Cable, Inc. (subsequently acquired by Charter), Cox Communications, Inc. (“Cox”), and Cablevision Systems Corporation, infringe three patents by providing high speed cable internet services to their customers utilizing cable modems and cable modem termination systems, consistent with the DOCSIS 3.0 standard, provided by us and other manufacturers generally used in combination with each other. Chanbond seeks monetary damages. On October 13, 2020, the Court set Chanbond’s case against Cox for trial on May 17, 2021. The other cases against the remaining service provider defendants have not yet been set for trial. We believe that the service provider defendants have strong non-infringement, invalidity and other defenses. Due to uncertainties surrounding the litigation processes, we are unable to reasonably estimate the ultimate outcome of the cases at this time, but should Chanbond prevail in its cases against the service provider defendants, we do not believe that any potential indemnity liability would be material. In addition, we have entered into indemnification agreements with our officers and directors, and our Amended and Restated Bylaws contain similar indemnification obligations to our agents. It is not possible to determine the maximum potential amount under these indemnification agreements due to uncertainties in the litigation process, coordination with other suppliers and the defendants in these cases, and the unique facts and circumstances involved in each particular agreement. Historically, payments made by us under these agreements have not had a material effect on our operating results, financial position, or cash flows. (f) Legal Proceedings Brazil Brazilian authorities have investigated our Brazilian subsidiary and certain of its former employees, as well as a Brazilian importer of our products, and its affiliates and employees, relating to alleged evasion of import taxes and alleged improper transactions involving the subsidiary and the importer. Brazilian tax authorities have assessed claims against our Brazilian subsidiary based on a theory of joint liability with the Brazilian importer for import taxes, interest, and penalties. In addition to claims asserted by the Brazilian federal tax authorities in prior fiscal years, tax authorities from the Brazilian state of Sao Paulo have asserted similar claims on the same legal basis in prior fiscal years. The asserted claims by Brazilian federal tax authorities are for calendar years 2003 through 2007, and the asserted claims by the tax authorities from the state of Sao Paulo are for calendar years 2005 through 2007. The total asserted claims by Brazilian state and federal tax authorities aggregate to $0.1 billion for the alleged evasion of import and other taxes, $0.7 billion for interest, and $0.4 billion for various penalties, all determined using an exchange rate as of October 24, 2020. We have completed a thorough review of the matters and believe the asserted claims against our Brazilian subsidiary are without merit, and we are defending the claims vigorously. While we believe there is no legal basis for the alleged liability, due to the complexities and uncertainty surrounding the judicial process in Brazil and the nature of the claims asserting joint liability with the importer, we are unable to determine the likelihood of an unfavorable outcome against our Brazilian subsidiary and are unable to reasonably estimate a range of loss, if any. We do not expect a final judicial determination for several years. SRI International On September 4, 2013, SRI International, Inc. (“SRI”) asserted patent infringement claims against us in the U.S. District Court for the District of Delaware, accusing our products and services in the area of network intrusion detection of infringing two U.S. patents. SRI sought monetary damages of at least a reasonable royalty and enhanced damages. The trial started on May 2, 2016, and, on May 12, 2016, the jury returned a verdict finding willful infringement. The jury awarded SRI damages of $23.7 million. On May 25, 2017, the District Court awarded SRI enhanced damages and attorneys’ fees, entered judgment in the new amount of $57.0 million, and ordered an ongoing royalty of 3.5% through the expiration of the patents in 2018. We appealed to the United States Court of Appeals for the Federal Circuit on various grounds, and after various proceedings, on July 12, 2019, the Federal Circuit vacated the enhanced damages award; vacated and remanded in part the willful infringement finding; vacated and remanded the attorneys’ fees award for further proceedings; and affirmed the District Court’s other findings. On April 1, 2020, the District Court issued a final judgment on the remanded issues, finding no evidence of willful infringement and reinstating the $8 million award of attorneys’ fees. SRI appealed the judgment of no willful infringement to the Federal Circuit on April 3, 2020, and Cisco filed a cross-appeal on the attorneys’ fees award on April 9, 2020. Cisco has paid SRI $28.1 million, representing the portion of the judgment that the Federal Circuit previously affirmed, plus interest and royalties on post-verdict sales. While the remaining proceedings may result in an additional loss, we do not expect it to be material. Centripetal On February 13, 2018, Centripetal Networks, Inc. (“Centripetal”) asserted patent infringement claims against us in the U.S. District Court for the Eastern District of Virginia, alleging that several Cisco products and services (including Cisco’s Catalyst switches, ASR and ISR series routers, ASAs with FirePOWER services, and Stealthwatch products) infringe eleven Centripetal patents. Cisco thereafter petitioned the Patent Trial and Appeal Board (“PTAB”) of the United States Patent and Trademark Office to review the validity of nine of the asserted patents. The PTAB instituted inter partes review proceedings (“IPR Proceedings”) on six asserted patents and certain claims of another asserted patent. The PTAB has issued Final Written Decisions for seven patents in the instituted IPR Proceedings, and all claims of five patents have been found unpatentable and several of the claims of the other two patents have been found unpatentable. Centripetal has appealed the PTAB’s findings of unpatentability to the United States Court of Appeals for the Federal Circuit. Starting on May 6, 2020 and concluding on June 25, 2020, the District Court conducted a bench trial by videoconference on the claims in the five patents not subject to the IPR Proceedings, including claims in three for which the PTAB declined to institute IPR Proceedings. Centripetal sought damages, enhanced damages for willful infringement, and broad injunctive relief. On October 5, 2020, the District Court issued a judgment finding validity and willful infringement of four of the asserted patents and non-infringement of the fifth patent. The Court awarded Centripetal $1.9 billion, comprised of $755.8 million in damages, $1.1 billion in enhanced damages for willful infringement, and pre-judgment interest in the amount of $13.7 million. The Court declined to issue an injunction but, instead, awarded Centripetal a running royalty against revenue from the products found to infringe for an initial three-year term at a rate of 10%, with a minimum annual royalty of $167.7 million and a maximum annual royalty of $300.1 million, and for a second three-year term at a rate of 5%, with a minimum annual royalty of $83.9 million and a maximum annual royalty of $150.0 million. We believe that the District Court’s findings of validity, infringement, and willful infringement, its award of damages, including enhanced damages, and its award of an ongoing royalty are not supported by either the law or the evidence presented at trial. We intend to appeal the District Court’s judgment as to the four patents found valid and infringed to the United States Court of Appeals for the Federal Circuit, and we believe that any relief ultimately awarded would not be material. On October 28, 2020, by agreement of the parties, the District Court stayed execution of the judgment until after resolution of any appeal in the matter and waived the requirement of any bond or security; accordingly, no money is currently due under the judgment. On April 29, 2020 and April 30, 2020, Centripetal submitted complaints in the District Court of Dusseldorf in Germany against Cisco Systems GmbH and Cisco Systems, Inc., asserting three European patents seeking both injunctive relief and damages. Two of the three European patents are counterparts to two U.S. patents Centripetal asserted against us in the U.S. District Court proceedings, one of which has been invalidated by the PTAB. We are currently assessing the cases filed in Germany and we believe we have strong defenses. Due to uncertainty surrounding patent litigation processes in the U.S. and Europe, however, we are unable to reasonably estimate the ultimate outcome of the cases at this time. Finjan On January 6, 2017, Finjan, Inc. (“Finjan”) asserted patent infringement claims against us in the U.S. District Court for the Northern District of California, seeking injunctive relief and damages, including enhanced damages for allegations of willful infringement. Finjan alleges that Cisco’s AMP and ThreatGrid products and the URL rewrite feature of Cisco’s ESA Outbreak Filter product infringe five patents, four of which have expired. Finjan has conceded that they are not entitled to any pre-suit damages, accordingly it seeks approximately three weeks of damages for the alleged infringement of the 8,677,494 and 6,154,844 patents, approximately ten months of damages for the 6,804,780 patent, approximately three years of damages for the 7,647,633 patent, and approximately three-and-a-half years of past damages for the 8,141,154 patent and an ongoing royalty until its expiration on December 12, 2025. The case is currently set for jury trial starting January 11, 2021. While we believe that we have strong non-infringement arguments, that the patents are invalid, that Finjan’s damages theories are not supported by prevailing law and that Finjan will not be able to meet its burden required for injunctive relief, we are unable to reasonably estimate the ultimate outcome of this litigation at this time due to uncertainties in the litigation processes. If we do not prevail in the District Court, we believe that any damages ultimately assessed would not be material. Ramot On June 12, 2019, Ramot at Tel Aviv University Ltd. (“Ramot”) asserted patent infringement claims against us in the U.S. District Court for the Eastern District of Texas, seeking damages, including enhanced damages for allegations of willful infringement, and a running royalty on future sales. Ramot alleges that certain Cisco optical transceiver modules and line cards infringe three U.S. patents. The case is currently set for a jury trial starting December 4, 2020. While we believe that we have strong non-infringement and invalidity arguments, and that Ramot’s damages theories are not supported by prevailing law, we are unable to reasonably estimate the ultimate outcome of this litigation at this time due to uncertainties in the litigation processes. If we do not prevail in the District Court, we believe that any damages ultimately assessed would not be material.

Shareholders' Equity

Shareholders' Equity	3 Months Ended
Shareholders' Equity	Oct. 24, 2020
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders’ Equity (a) Cash Dividends on Shares of Common Stock We declared and paid cash dividends of $0.36 and $0.35 per common share, or $1.5 billion, on our outstanding common stock for each of the first quarters of fiscal 2021 and 2020. Any future dividends will be subject to the approval of our Board of Directors. (b) Stock Repurchase Program In September 2001, our Board of Directors authorized a stock repurchase program. As of October 24, 2020, the remaining authorized amount for stock repurchases under this program was approximately $10.0 billion with no termination date. A summary of the stock repurchase activity for the first quarter of fiscal 2021 and fiscal 2020 under the stock repurchase program, reported based on the trade date, is summarized as follows (in millions, except per-share amounts): Quarter Ended Shares Weighted-Average Price per Share Amount Fiscal 2021 October 24, 2020 20 $ 40.44 $ 800 Fiscal 2020 July 25, 2020 — $ — $ — April 25, 2020 25 $ 39.71 $ 981 January 25, 2020 18 $ 46.71 $ 870 October 26, 2019 16 $ 48.91 $ 768 There were no stock repurchases that were pending settlement as of October 24, 2020 and July 25, 2020. The purchase price for the shares of our stock repurchased is reflected as a reduction to shareholders’ equity. We are required to allocate the purchase price of the repurchased shares as (i) a reduction to retained earnings or an increase to accumulated deficit and (ii) a reduction of common stock and additional paid-in capital. (c) Preferred Stock Under the terms of our Articles of Incorporation, the Board of Directors may determine the rights, preferences, and terms of our authorized but unissued shares of preferred stock.

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
Employee Benefit Plans	Oct. 24, 2020
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans (a) Employee Stock Incentive Plans Stock Incentive Plan Program Description As of October 24, 2020, we had one stock incentive plan: the 2005 Stock Incentive Plan (the “2005 Plan”). In addition, we have, in connection with our acquisitions of various companies, assumed the share-based awards granted under stock incentive plans of the acquired companies or issued share-based awards in replacement thereof. Share-based awards are designed to reward employees for their long-term contributions to us and provide incentives for them to remain with Cisco. The number and frequency of share-based awards are based on competitive practices, operating results of Cisco, government regulations, and other factors. Our primary stock incentive plan is summarized as follows: 2005 Plan The 2005 Plan provides for the granting of stock options, stock grants, stock units and stock appreciation rights (SARs), the vesting of which may be time-based or upon satisfaction of performance goals, or both, and/or other conditions. Employees (including employee directors and executive officers) and consultants of Cisco and its subsidiaries and affiliates and non-employee directors of Cisco are eligible to participate in the 2005 Plan. As of October 24, 2020, the maximum number of shares issuable under the 2005 Plan over its term was 694 million shares. The 2005 Plan may be terminated by the Board of Directors at any time and for any reason, and is currently set to terminate at the 2021 Annual Meeting unless re-adopted or extended by the shareholders prior to or on such date. Under the 2005 Plan’s share reserve feature, a distinction is made between the number of shares in the reserve attributable to (i) stock options and SARs and (ii) “full value” awards (i.e., stock grants and stock units). Shares issued as stock grants, pursuant to stock units or pursuant to the settlement of dividend equivalents are counted against shares available for issuance under the 2005 Plan on a 1.5-to-1 ratio. For each share awarded as restricted stock or a restricted stock unit award under the 2005 Plan, 1.5 shares was deducted from the available share-based award balance. For restricted stock units that were awarded with vesting contingent upon the achievement of future financial performance or market-based metrics, the maximum awards that can be achieved upon full vesting of such awards. If awards issued under the 2005 Plan are forfeited or terminated for any reason before being exercised or settled, then the shares underlying such awards, plus the number of additional shares, if any, that counted against shares available for issuance under the 2005 Plan at the time of grant as a result of the application of the share ratio described above, will become available again for issuance under the 2005 Plan. As of October 24, 2020, 175 million shares were authorized for future grant under the 2005 Plan. (b) Employee Stock Purchase Plan We have an Employee Stock Purchase Plan under which 721.4 million shares of our common stock have been reserved for issuance as of October 24, 2020. Eligible employees are offered shares through a 24-month offering period, which consists of four consecutive 6-month purchase periods. Employees may purchase a limited amount of shares of our stock at a discount of up to 15% of the lesser of the fair market value at the beginning of the offering period or the end of each 6-month purchase period. The Employee Stock Purchase Plan is scheduled to terminate on the earlier of (i) January 3, 2030 and (ii) the date on which all shares available for issuance under the Employee Stock Purchase Plan are sold pursuant to exercised purchase rights. No shares were issued under the Employee Stock Purchase Plan during each of the first quarters of fiscal 2021 and 2020. As of October 24, 2020, 141 million shares were available for issuance under the Employee Stock Purchase Plan. (c) Summary of Share-Based Compensation Expense Share-based compensation expense consists primarily of expenses for stock options, stock purchase rights, restricted stock, and RSUs granted to employees. The following table summarizes share-based compensation expense (in millions): Three Months Ended October 24, 2020 October 26, 2019 Cost of sales—product $ 24 $ 23 Cost of sales—service 41 34 Share-based compensation expense in cost of sales 65 57 Research and development 167 146 Sales and marketing 134 127 General and administrative 61 60 Restructuring and other charges 11 8 Share-based compensation expense in operating expenses 373 341 Total share-based compensation expense $ 438 $ 398 Income tax benefit for share-based compensation $ 81 $ 131 As of October 24, 2020, the total compensation cost related to unvested share-based awards not yet recognized was $3.6 billion which is expected to be recognized over approximately 2.9 years on a weighted-average basis. (d) Restricted Stock and Stock Unit Awards A summary of the restricted stock and stock unit activity, which includes time-based and performance-based or market-based RSUs, is as follows (in millions, except per-share amounts): Restricted Stock/ Weighted-Average Aggregate Fair Value UNVESTED BALANCE AT JULY 27, 2019 100 $ 38.66 Granted 49 42.61 Vested (44) 35.20 $ 2,045 Canceled/forfeited/other (9) 40.45 UNVESTED BALANCE AT JULY 25, 2020 96 42.03 Granted 10 37.16 Vested (6) 39.95 $ 264 Canceled/forfeited/other (4) 39.17 UNVESTED BALANCE AT OCTOBER 24, 2020 96 $ 41.77

Comprehensive Income (Loss)

Comprehensive Income (Loss)	3 Months Ended
Comprehensive Income (Loss)	Oct. 24, 2020
Equity [Abstract]
Comprehensive Income (Loss)	Comprehensive Income (Loss) The components of AOCI, net of tax, and the other comprehensive income (loss), for the first quarter of fiscal 2021 and 2020 are summarized as follows (in millions): Net Unrealized Gains (Losses) on Available-for-Sale Investments Net Unrealized Gains (Losses) Cash Flow Hedging Instruments Cumulative Translation Adjustment and Actuarial Gains (Losses) Accumulated Other Comprehensive Income (Loss) BALANCE AT JULY 25, 2020 $ 315 $ (6) $ (828) $ (519) Other comprehensive income (loss) before reclassifications (41) (2) 110 67 (Gains) losses reclassified out of AOCI (15) (2) — (17) Tax benefit (expense) 22 1 (1) 22 BALANCE AT OCTOBER 24, 2020 $ 281 $ (9) $ (719) $ (447) Net Unrealized Gains (Losses) on Available-for-Sale Investments Net Unrealized Gains (Losses) Cash Flow Hedging Instruments Cumulative Translation Adjustment and Actuarial Gains (Losses) Accumulated Other Comprehensive Income (Loss) BALANCE AT JULY 27, 2019 $ — $ (14) $ (778) $ (792) Other comprehensive income (loss) before reclassifications 87 (1) (92) (6) (Gains) losses reclassified out of AOCI (10) — 1 (9) Tax benefit (expense) (9) 1 — (8) BALANCE AT OCTOBER 26, 2019 $ 68 $ (14) $ (869) $ (815)

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Oct. 24, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The following table provides details of income taxes (in millions, except percentages): Three Months Ended October 24, October 26, Income before provision for income taxes $ 2,681 $ 3,686 Provision for income taxes $ 507 $ 760 Effective tax rate 18.9 % 20.6 % As of October 24, 2020, we had $2.5 billion of unrecognized tax benefits, of which $2.2 billion, if recognized, would favorably impact the effective tax rate. We regularly engage in discussions and negotiations with tax authorities regarding tax matters in various jurisdictions. We believe it is reasonably possible that certain federal, foreign and state tax matters may be concluded in the next 12 months. Specific positions that may be resolved include issues involving transfer pricing and various other matters.

Segment Information and Major C

Segment Information and Major Customers	3 Months Ended
Segment Information and Major Customers	Oct. 24, 2020
Segment Reporting [Abstract]
Segment Information and Major Customers	Segment Information and Major Customers (a) Revenue and Gross Margin by Segment We conduct business globally and are primarily managed on a geographic basis consisting of three segments: the Americas, EMEA, and APJC. Our management makes financial decisions and allocates resources based on the information it receives from our internal management system. Sales are attributed to a segment based on the ordering location of the customer. We do not allocate research and development, sales and marketing, or general and administrative expenses to our segments in this internal management system because management does not include the information in our measurement of the performance of the operating segments. In addition, we do not allocate amortization and impairment of acquisition-related intangible assets, share-based compensation expense, significant litigation settlements and other contingencies, charges related to asset impairments and restructurings, and certain other charges to the gross margin for each segment because management does not include this information in our measurement of the performance of the operating segments. Summarized financial information by segment for the first quarter of fiscal 2021 and 2020, based on our internal management system and as utilized by our Chief Operating Decision Maker (“CODM”), is as follows (in millions): Three Months Ended October 24, October 26, Revenue: Americas $ 7,198 $ 7,977 EMEA 2,964 3,283 APJC 1,767 1,899 Total $ 11,929 $ 13,159 Gross margin: Americas $ 4,847 $ 5,316 EMEA 1,894 2,166 APJC 1,113 1,194 Segment total 7,853 8,676 Unallocated corporate items (272) (212) Total $ 7,581 $ 8,464 Amounts may not sum and percentages may not recalculate due to rounding. Revenue in the United States was $6.5 billion and $7.1 billion for the first quarter of fiscal 2021 and 2020, respectively. (b) Revenue for Groups of Similar Products and Services We design, manufacture, and sell Internet Protocol (IP)-based networking and other products related to the communications and IT industry and provide services associated with these products and their use. The following table presents revenue for groups of similar products and services (in millions): Three Months Ended October 24, October 26, Revenue: Infrastructure Platforms $ 6,341 $ 7,553 Applications 1,380 1,499 Security 861 816 Other Products 5 11 Total Product 8,587 9,878 Services 3,342 3,281 Total $ 11,929 $ 13,159 Amounts may not sum due to rounding. We have made certain reclassifications to the product revenue amounts for prior period to conform to the current year presentation.

Net Income per Share

Net Income per Share	3 Months Ended
Net Income per Share	Oct. 24, 2020
Earnings Per Share [Abstract]
Net Income per Share	Net Income per Share The following table presents the calculation of basic and diluted net income per share (in millions, except per-share amounts): Three Months Ended October 24, October 26, Net income $ 2,174 $ 2,926 Weighted-average shares—basic 4,230 4,246 Effect of dilutive potential common shares 14 27 Weighted-average shares—diluted 4,244 4,273 Net income per share—basic $ 0.51 $ 0.69 Net income per share—diluted $ 0.51 $ 0.68 Antidilutive employee share-based awards, excluded 35 11 Employee equity share options, unvested shares, and similar equity instruments granted and assumed by Cisco are treated as potential common shares outstanding in computing diluted earnings per share. Diluted shares outstanding include the dilutive effect of in-the-money options, unvested restricted stock, and restricted stock units. The dilutive effect of such equity awards is calculated based on the average share price for each fiscal period using the treasury stock method. Under the treasury stock method, the amount the employee must pay for exercising stock options and the amount of compensation cost for future service that has not yet been recognized are collectively assumed to be used to repurchase shares.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	3 Months Ended
Recent Accounting Pronouncements (Policies)	Oct. 24, 2020
Accounting Policies [Abstract]
Fiscal Period	The fiscal year for Cisco Systems, Inc. (the “Company,” “Cisco,” “we,” “us,” or “our”) is the 52 or 53 weeks ending on the last Saturday in July. Fiscal 2021 is a 53-week fiscal year and fiscal 2020 was a 52-week fiscal year.
Basis of Presentation	The Consolidated Financial Statements include our accounts and those of our subsidiaries. All intercompany accounts and transactions have been eliminated. We conduct business globally and are primarily managed on a geographic basis in the following three geographic segments: the Americas; Europe, Middle East, and Africa (EMEA); and Asia Pacific, Japan, and China (APJC). We have prepared the accompanying financial data as of October 24, 2020 and for the first quarter of fiscal 2021 and 2020, without audit, pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) have been condensed or omitted pursuant to such rules and regulations. The July 25, 2020 Consolidated Balance Sheet was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States. However, we believe that the disclosures are adequate to make the information presented not misleading. These Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and the notes thereto included in our Annual Report on Form 10-K for the fiscal year ended July 25, 2020. The preparation of financial statements and related disclosures in conformity with GAAP requires us to make judgments, assumptions, and estimates that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. The inputs into certain of our judgments, assumptions, and estimates considered the economic implications of the COVID-19 pandemic on our critical and significant accounting estimates. The actual results that we experience may differ materially from our estimates. As the COVID-19 pandemic continues to develop, many of our estimates could require increased judgment and carry a higher degree of variability and volatility. As events continue to evolve our estimates may change materially in future periods. In the opinion of management, all normal recurring adjustments necessary to present fairly the consolidated balance sheet as of October 24, 2020, the results of operations, the statements of comprehensive income (loss), the statements of cash flows and the statements of equity for the first quarter of fiscal 2021 and 2020, as applicable, have been made. The results of operations for the first quarter of fiscal 2021 are not necessarily indicative of the operating results for the full fiscal year or any future periods. Our consolidated financial statements include our accounts and entities consolidated under the variable interest and voting models. The noncontrolling interests attributed to these investments, if any, are presented as a separate component from our equity in the equity section of the Consolidated Balance Sheets. The share of earnings attributable to the noncontrolling interests are not presented separately in the Consolidated Statements of Operations as these amounts are not material for any of the fiscal periods presented.
Reclassification	Certain reclassifications have been made to the amounts in prior periods in order to conform to the current period’s presentation. We have evaluated subsequent events through the date that the financial statements were issued.
New Accounting Updates Recently Adopted	New Accounting Updates Recently Adopted Credit Losses of Financial Instruments In June 2016, the FASB issued an accounting standard update that requires measurement and recognition of expected credit losses for financial assets held based on historical experience, current conditions, and reasonable and supportable forecasts that affect the collectibility of the reported amount. We adopted this standard at the beginning of our first quarter of fiscal 2021, applied it at the beginning of the period of adoption and did not restate prior periods. The standard primarily impacts our financial assets measured at amortized cost and available-for-sale debt securities. The standard did not have a material impact on our consolidated financial statements upon adoption.
Allowance for Accounts Receivable, Contract Assets, and Financing Receivables and Available-for-Sale Debt Investments	Allowance for Accounts Receivable, Contract Assets and Financing Receivables We estimate our allowances for credit losses using relevant available information from internal and external sources, related to past events, current conditions and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. When assessing for credit losses, we determine collectibility by pooling our assets with similar characteristics. The allowances for credit losses are each measured on a collective basis when similar risk characteristics exist. Our internal credit risk ratings are categorized as 1 through 10, with the lowest credit risk rating representing the highest quality. Our assets within each internal credit risk rating share similar risk characteristics and therefore are assessed as one portfolio segment for credit loss. Assets that do not share risk characteristics are evaluated on an individual basis. The allowances for credit losses are each measured by multiplying the exposure probability of default, the probability the asset will default within a given time frame, by the loss given default rate, the percentage of the asset not expected to be collected due to default, based on the pool of assets. Probability of default rates are published quarterly by third-party credit agencies. Adjustments to our internal credit risk ratings may take into account including, but not limited to, various customer-specific factors, the potential sovereign risk of the geographic locations in which the customer is operating and macroeconomic conditions. These factors are updated regularly or when facts and circumstances indicate that an update is deemed necessary. Available-for-Sale Debt Investments For our available-for-sale debt securities in an unrealized loss position, we determine whether a credit loss exists. In this assessment, we consider the extent to which the fair value is less than the amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If factors indicate a credit loss exists, an allowance for credit loss is recorded to other income (loss), net, limited by the amount that the fair value is less than the amortized cost basis. The amount of fair value change relating to all other factors will be recognized in other comprehensive income (OCI).
Revenue	We enter into contracts with customers that can include various combinations of products and services which are generally distinct and accounted for as separate performance obligations. As a result, our contracts may contain multiple performance obligations. We determine whether arrangements are distinct based on whether the customer can benefit from the product or service on its own or together with other resources that are readily available and whether our commitment to transfer the product or service to the customer is separately identifiable from other obligations in the contract. We classify our hardware, perpetual software licenses, and software-as-a-service (SaaS) as distinct performance obligations. Term software licenses represent multiple obligations, which include software licenses and software maintenance. In transactions where we deliver hardware or software, we are typically the principal and we record revenue and costs of goods sold on a gross basis. We refer to our term software licenses, security software licenses, SaaS, and associated service arrangements as subscription offers. We recognize revenue upon transfer of control of promised goods or services in a contract with a customer in an amount that reflects the consideration we expect to receive in exchange for those products or services. Transfer of control occurs once the customer has the contractual right to use the product, generally upon shipment or once title and risk of loss has transferred to the customer. Transfer of control can also occur over time for software maintenance and services as the customer receives the benefit over the contract term. Our hardware and perpetual software licenses are distinct performance obligations where revenue is recognized upfront upon transfer of control. Term software licenses include multiple performance obligations where the term licenses are recognized upfront upon transfer of control, with the associated software maintenance revenue recognized ratably over the contract term as services and software updates are provided. SaaS arrangements do not include the right for the customer to take possession of the software during the term, and therefore have one distinct performance obligation which is satisfied over time with revenue recognized ratably over the contract term as the customer consumes the services. On our product sales, we record consideration from shipping and handling on a gross basis within net product sales. We record our revenue net of any associated sales taxes. An allowance for future sales returns is established based on historical trends in product return rates. The allowance for future sales returns as of October 24, 2020 and July 25, 2020 was $81 million and $79 million, respectively, and was recorded as a reduction of our accounts receivable and revenue. Significant Judgments Revenue is allocated among these performance obligations in a manner that reflects the consideration that we expect to be entitled to for the promised goods or services based on standalone selling prices (SSP). SSP is estimated for each distinct performance obligation and judgment may be required in their determination. The best evidence of SSP is the observable price of a product or service when we sell the goods separately in similar circumstances and to similar customers. In instances where SSP is not directly observable, we determine SSP using information that may include market conditions and other observable inputs. We apply judgment in determining the transaction price as we may be required to estimate variable consideration when determining the amount of revenue to recognize. Variable consideration includes potential contractual penalties and various rebate, cooperative marketing and other incentive programs that we offer to our distributors, channel partners and customers. When determining the amount of revenue to recognize, we estimate the expected usage of these programs, applying the expected value or most likely estimate and update the estimate at each reporting period as actual utilization becomes available. We also consider the customers' right of return in determining the transaction price, where applicable. We assess certain software licenses, such as for security software, that contain critical updates or upgrades which customers can download throughout the contract term. Without these updates or upgrades, the functionality of the software would diminish over a relatively short time period. These updates or upgrades provide the customer the full functionality of the purchased security software licenses and are required to maintain the security license's utility as the risks and threats in the environment are rapidly changing. In these circumstances, the revenue from these software arrangements is recognized as a single performance obligation satisfied over the contract term. Infrastructure Platforms consist of our core networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities and transport and/or store data. These technologies consist of both hardware and software offerings, including software licenses and SaaS, that help our customers build networks, automate, orchestrate, integrate, and digitize data. We are shifting and expanding more of our business to software and subscriptions across our core networking portfolio. Our hardware and perpetual software in this category are distinct performance obligations where revenue is recognized upfront upon transfer of control. Term software licenses are multiple performance obligations where the term license is recognized upfront upon transfer of control with the associated software maintenance revenue recognized ratably over the contract term. SaaS arrangements in this category have one distinct performance obligation which is satisfied over time with revenue recognized ratably over the contract term. Applications consists of offerings that utilize the core networking and data center platforms to provide their functions. The products consist primarily of software offerings, including software licenses and SaaS, as well as hardware. Our perpetual software and hardware in this category are distinct performance obligations where revenue is recognized upfront upon transfer of control. Term software licenses are multiple performance obligations where the term license is recognized upfront upon transfer of control with the associated software maintenance revenue recognized ratably over the contract term. SaaS arrangements in this category have one distinct performance obligation which is satisfied over time with revenue recognized ratably over the contract term. Security primarily includes our network security, cloud and email security, identity and access management, advanced threat protection, and unified threat management products. These products consist of both hardware and software offerings, including software licenses and SaaS. Updates and upgrades for the term software licenses are critical for our software to perform its intended commercial purpose because of the continuous need for our software to secure our customers' network environments against frequent threats. Therefore, security software licenses are generally represented by a single distinct performance obligation with revenue recognized ratably over the contract term. Our hardware and perpetual software in this category are distinct performance obligations where revenue is recognized upfront upon transfer of control. SaaS arrangements in this category have one distinct performance obligation which is satisfied over time with revenue recognized ratably over the contract term. Other Products primarily includes our cloud and system management products. These products include both hardware and software licenses. Our offerings in this category are distinct performance obligations where revenue is recognized upfront upon transfer of control. In addition to our product offerings, we provide a broad range of service and support options for our customers, including technical support services and advanced services. Technical support services represent the majority of these offerings which are distinct performance obligations that are satisfied over time with revenue recognized ratably over the contract term. Advanced services are distinct performance obligations that are satisfied over time with revenue recognized as services are delivered. The sales arrangements as discussed above are typically made pursuant to customer purchase orders based on master purchase or partner agreements. Cash is received based on our standard payment terms which is typically 30 days. We provide financing arrangements to customers for all of our hardware, software and service offerings. Refer to Note 9 for additional information. For these arrangements, cash is typically received over time.
Financing Receivables	Financing receivables primarily consist of lease receivables, loan receivables, and financed service contracts. 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. Loan receivables represent financing arrangements related to the sale of our hardware, software, and services, which may include additional funding for other costs associated with network installation and integration of our products and services. Loan receivables have terms of three years on average. Financed service contracts include financing receivables related to technical support and advanced services. Revenue related to the technical support services is typically deferred and included in deferred service revenue and is recognized ratably over the period during which the related services are to be performed, which typically ranges from one
Fair Value Measurement	Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be either recorded or disclosed at fair value, we consider the principal or most advantageous market in which we would transact, and we also consider assumptions that market participants would use when pricing the asset or liability. (a) Fair Value Hierarchy The accounting guidance for fair value measurement requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is as follows: Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability, such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.
Fair Value of Financial Instruments	Level 1 marketable securities are determined by using quoted prices in active markets for identical assets. Level 2 available-for-sale debt investments are priced using quoted market prices for similar instruments or nonbinding market prices that are corroborated by observable market data. We use inputs such as actual trade data, benchmark yields, broker/dealer quotes, and other similar data, which are obtained from quoted market prices, independent pricing vendors, or other sources, to determine the ultimate fair value of these assets and liabilities. We use such pricing data as the primary input to make our assessments and determinations as to the ultimate valuation of our investment portfolio and have not made, during the periods presented, any material adjustments to such inputs. We are ultimately responsible for the financial statements and underlying estimates. Our derivative instruments are primarily classified as Level 2, as they are not actively traded and are valued using pricing models that use observable market inputs. We did not have any transfers between Level 1 and Level 2 fair value measurements during the periods presented. Level 3 assets include certain derivative instruments, the values of which are determined based on discounted cash flow models using inputs that we could not corroborate with market data.The carrying value of our non-marketable equity securities recorded to fair value on a non-recurring basis is adjusted for observable transactions for identical or similar investments of the same issuer or impairment. These securities are classified as Level 3 in the fair value hierarchy because we estimate the value based on valuation methods using the observable transaction price at the transaction date and other unobservable inputs such as volatility, rights, and obligations of the securities we hold.
Derivatives	We use derivative instruments primarily to manage exposures to foreign currency exchange rate, interest rate, and equity price risks. Our primary objective in holding derivatives is to reduce the volatility of earnings and cash flows associated with changes in foreign currency exchange rates, interest rates, and equity prices. Our derivatives expose us to credit risk to the extent that the counterparties may be unable to meet the terms of the agreement. We do, however, seek to mitigate such risks by limiting our counterparties to major financial institutions. In addition, the potential risk of loss with any one counterparty resulting from this type of credit risk is monitored. Management does not expect material losses as a result of defaults by counterparties.
Offsetting of Derivative Instruments	We present our derivative instruments at gross fair values in the Consolidated Balance Sheets. However, our master netting and other similar arrangements with the respective counterparties allow for net settlement under certain conditions, which are designed to reduce credit risk by permitting net settlement with the same counterparty. As of October 24, 2020 and July 25, 2020, the potential effects of these rights of set-off associated with the derivative contracts would be a reduction to both derivative assets and derivative liabilities of $20 million and $10 million, respectively.To further limit credit risk, we also enter into collateral security arrangements related to certain derivative instruments whereby cash is posted as collateral between the counterparties based on the fair market value of the derivative instrument.
Hedging Derivatives	We conduct business globally in numerous currencies. Therefore, we are exposed to adverse movements in foreign currency exchange rates. To limit the exposure related to foreign currency changes, we enter into foreign currency contracts. We do not enter into such contracts for speculative purposes. We hedge forecasted foreign currency transactions related to certain revenues, operating expenses and service cost of sales with currency options and forward contracts. These currency options and forward contracts, designated as cash flow hedges, generally have maturities of less than 24 months. The derivative instrument’s gain or loss is initially reported as a component of accumulated other comprehensive income (“AOCI”) and subsequently reclassified into earnings when the hedged exposure affects earnings. During the periods presented, we did not discontinue any cash flow hedges for which it was probable that a forecasted transaction would not occur. We enter into foreign exchange forward and option contracts to reduce the short-term effects of foreign currency fluctuations on assets and liabilities such as foreign currency receivables, including long-term customer financings and payables. These derivatives are not designated as hedging instruments. Gains and losses on the contracts are included in other income (loss), net, and substantially offset foreign exchange gains and losses from the remeasurement of intercompany balances, other current assets, or liabilities denominated in currencies other than the functional currency of the reporting entity. We hedge certain net investments in our foreign operations with forward contracts to reduce the effects of foreign currency fluctuations on our net investment in those foreign subsidiaries. These derivative instruments generally have maturities of up to six months. (d) Interest Rate Risk Interest Rate Derivatives Designated as Fair Value Hedges, Long-Term Debt We hold interest rate swaps designated as fair value hedges related to fixed-rate senior notes that are due in fiscal 2021 through 2025. Under these interest rate swaps, we receive fixed-rate interest payments and make interest payments based on LIBOR plus a fixed number of basis points. The effect of such swaps is to convert the fixed interest rates of the senior fixed-rate notes to floating interest rates based on LIBOR. The gains and losses related to changes in the fair value of the interest rate swaps are included in interest expense and substantially offset changes in the fair value of the hedged portion of the underlying debt that are attributable to the changes in market interest rates. (e) Equity Price Risk
Derivatives Not Designated as Hedges	We are also exposed to variability in compensation charges related to certain deferred compensation obligations to employees. Although not designated as accounting hedges, we utilize derivatives such as total return swaps to economically hedge this exposure and offset the related compensation expense.
Commitments and Contingencies	We purchase components from a variety of suppliers and use several contract manufacturers to provide manufacturing services for our products. During the normal course of business, in order to manage manufacturing lead times and help ensure adequate component supply, we enter into agreements with contract manufacturers and suppliers that either allow them to procure inventory based upon criteria as defined by us or establish the parameters defining our requirements. A significant portion of our reported purchase commitments arising from these agreements consists of firm, noncancelable, and unconditional commitments. Certain of these purchase commitments with contract manufacturers and suppliers relate to arrangements to secure long-term pricing for certain product components for multi-year periods. In certain instances, these agreements allow us the option to cancel, reschedule, and adjust our requirements based on our business needs prior to firm orders being placed.We record a liability for firm, noncancelable, and unconditional purchase commitments for quantities in excess of our future demand forecasts consistent with the valuation of our excess and obsolete inventory.
Indemnifications	In the normal course of business, we indemnify other parties, including customers, lessors, and parties to other transactions with us, with respect to certain matters. We have agreed to indemnify against losses arising from a breach of representations or covenants or out of intellectual property infringement or other claims made against certain parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim.
Segment Information	We conduct business globally and are primarily managed on a geographic basis consisting of three segments: the Americas, EMEA, and APJC. Our management makes financial decisions and allocates resources based on the information it receives from our internal management system. Sales are attributed to a segment based on the ordering location of the customer. We do not allocate research and development, sales and marketing, or general and administrative expenses to our segments in this internal management system because management does not include the information in our measurement of the performance of the operating segments. In addition, we do not allocate amortization and impairment of acquisition-related intangible assets, share-based compensation expense, significant litigation settlements and other contingencies, charges related to asset impairments and restructurings, and certain other charges to the gross margin for each segment because management does not include this information in our measurement of the performance of the operating segments.
Net Income per Share	Employee equity share options, unvested shares, and similar equity instruments granted and assumed by Cisco are treated as potential common shares outstanding in computing diluted earnings per share. Diluted shares outstanding include the dilutive effect of in-the-money options, unvested restricted stock, and restricted stock units. The dilutive effect of such equity awards is calculated based on the average share price for each fiscal period using the treasury stock method. Under the treasury stock method, the amount the employee must pay for exercising stock options and the amount of compensation cost for future service that has not yet been recognized are collectively assumed to be used to repurchase shares.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
Revenue (Tables)	Oct. 24, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents this disaggregation of revenue (in millions): Three Months Ended October 24, October 26, Revenue: Infrastructure Platforms $ 6,341 $ 7,553 Applications 1,380 1,499 Security 861 816 Other Products 5 11 Total Product 8,587 9,878 Services 3,342 3,281 Total $ 11,929 $ 13,159 The following table presents revenue for groups of similar products and services (in millions): Three Months Ended October 24, October 26, Revenue: Infrastructure Platforms $ 6,341 $ 7,553 Applications 1,380 1,499 Security 861 816 Other Products 5 11 Total Product 8,587 9,878 Services 3,342 3,281 Total $ 11,929 $ 13,159
Schedule of Gross Contract Assets by Internal Risk Ratings	Gross contract assets by our internal risk ratings are summarized as follows (in millions): October 24, 1 to 4 $ 442 5 to 6 737 7 and Higher 119 Total $ 1,298

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	3 Months Ended
Acquisitions and Divestitures (Tables)	Oct. 24, 2020
Business Combinations [Abstract]
Summary of Allocation of Total Purchase Consideration	A summary of the allocation of the total purchase consideration is presented as follows (in millions): Purchase Consideration Net Tangible Assets Acquired (Liabilities Assumed) Purchased Intangible Assets Goodwill Total acquisitions (three in total) $ 878 $ 2 $ 210 $ 666

Goodwill and Purchased Intang_2

Goodwill and Purchased Intangible Assets (Tables)	3 Months Ended
Goodwill and Purchased Intangible Assets (Tables)	Oct. 24, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill by Reportable Segment	The following table presents the goodwill allocated to our reportable segments as of October 24, 2020 and during the first quarter of fiscal 2021 (in millions): Balance at July 25, 2020 Acquisitions Foreign Currency Translation and Other Balance at October 24, 2020 Americas $ 21,304 $ 393 $ 40 $ 21,737 EMEA 8,040 183 15 8,238 APJC 4,462 90 8 4,560 Total $ 33,806 $ 666 $ 63 $ 34,535
Schedule of Intangible Assets Acquired Through Business Combinations	The following table presents details of our intangible assets acquired through acquisitions completed during the first quarter of fiscal 2021 (in millions, except years): FINITE LIVES INDEFINITE LIVES TOTAL TECHNOLOGY CUSTOMER OTHER IPR&D Weighted- Amount Weighted- Amount Weighted- Amount Amount Amount Total acquisitions (three in total) 3.9 $ 162 4.0 $ 42 2.0 $ 6 — $ 210
Schedule of Intangible Assets Acquired Through Business Combinations	The following table presents details of our intangible assets acquired through acquisitions completed during the first quarter of fiscal 2021 (in millions, except years): FINITE LIVES INDEFINITE LIVES TOTAL TECHNOLOGY CUSTOMER OTHER IPR&D Weighted- Amount Weighted- Amount Weighted- Amount Amount Amount Total acquisitions (three in total) 3.9 $ 162 4.0 $ 42 2.0 $ 6 — $ 210
Schedule of Purchased Intangible Assets	The following tables present details of our purchased intangible assets (in millions): October 24, 2020 Gross Accumulated Amortization Net Purchased intangible assets with finite lives: Technology $ 3,086 $ (2,104) $ 982 Customer relationships 797 (393) 404 Other 14 (5) 9 Total purchased intangible assets with finite lives 3,897 (2,502) 1,395 In-process research and development, with indefinite lives 186 — 186 Total $ 4,083 $ (2,502) $ 1,581 July 25, 2020 Gross Accumulated Amortization Net Purchased intangible assets with finite lives: Technology $ 3,298 $ (2,336) $ 962 Customer relationships 760 (365) 395 Other 26 (20) 6 Total purchased intangible assets with finite lives 4,084 (2,721) 1,363 In-process research and development, with indefinite lives 213 — 213 Total $ 4,297 $ (2,721) $ 1,576
Schedule of Purchased Intangible Assets	The following tables present details of our purchased intangible assets (in millions): October 24, 2020 Gross Accumulated Amortization Net Purchased intangible assets with finite lives: Technology $ 3,086 $ (2,104) $ 982 Customer relationships 797 (393) 404 Other 14 (5) 9 Total purchased intangible assets with finite lives 3,897 (2,502) 1,395 In-process research and development, with indefinite lives 186 — 186 Total $ 4,083 $ (2,502) $ 1,581 July 25, 2020 Gross Accumulated Amortization Net Purchased intangible assets with finite lives: Technology $ 3,298 $ (2,336) $ 962 Customer relationships 760 (365) 395 Other 26 (20) 6 Total purchased intangible assets with finite lives 4,084 (2,721) 1,363 In-process research and development, with indefinite lives 213 — 213 Total $ 4,297 $ (2,721) $ 1,576
Schedule of Amortization of Purchased Intangible Assets	The following table presents the amortization of purchased intangible assets, including impairment charges (in millions): Three Months Ended October 24, 2020 October 26, 2019 Amortization of purchased intangible assets: Cost of sales $ 170 $ 166 Operating expenses 36 36 Total $ 206 $ 202
Schedule of Estimated Future Amortization Expense of Purchased Intangible Assets	The estimated future amortization expense of purchased intangible assets with finite lives as of October 24, 2020 is as follows (in millions): Fiscal Year Amount 2021 (remaining nine months) $ 487 2022 $ 431 2023 $ 286 2024 $ 170 2025 $ 15 Thereafter $ 6

Restructuring and Other Charg_2

Restructuring and Other Charges (Tables)	3 Months Ended
Restructuring and Other Charges (Tables)	Oct. 24, 2020
Restructuring Charges [Abstract]
Liabilities Related to Restructuring and Other Charges	The following tables summarize the activities related to the restructuring and other charges (in millions): FISCAL 2020 AND PRIOR PLANS FISCAL 2021 PLAN Employee Other Employee Other Total Liability as of July 25, 2020 $ 58 $ 14 $ — $ — $ 72 Charges — — 590 12 602 Cash payments (58) — (272) — (330) Non-cash items — — — (11) (11) Liability as of October 24, 2020 $ — $ 14 $ 318 $ 1 $ 333 FISCAL 2018 AND PRIOR PLANS Employee Other Total Liability as of July 27, 2019 $ 22 $ 11 $ 33 Charges 175 9 184 Cash payments (154) (1) (155) Non-cash items — (15) (15) Liability as of October 26, 2019 $ 43 $ 4 $ 47

Balance Sheet and Other Detai_2

Balance Sheet and Other Details (Tables)	3 Months Ended
Balance Sheet and Other Details (Tables)	Oct. 24, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash, Cash Equivalents, and Restricted Cash	The following tables provide details of selected balance sheet and other items (in millions): October 24, July 25, Cash and cash equivalents $ 10,822 $ 11,809 Restricted cash included in other current assets 3 — Restricted cash included in other assets — 3 Total cash, cash equivalents, and restricted cash $ 10,825 $ 11,812
Cash, Cash Equivalents, and Restricted Cash	The following tables provide details of selected balance sheet and other items (in millions): October 24, July 25, Cash and cash equivalents $ 10,822 $ 11,809 Restricted cash included in other current assets 3 — Restricted cash included in other assets — 3 Total cash, cash equivalents, and restricted cash $ 10,825 $ 11,812
Inventories	Inventories: Raw materials $ 380 $ 456 Work in process 19 25 Finished goods: Deferred cost of sales 54 59 Manufactured finished goods 646 542 Total finished goods 700 601 Service-related spares 191 184 Demonstration systems 13 16 Total $ 1,303 $ 1,282
Property and Equipment, Net	Property and equipment, net: Gross property and equipment: Land, buildings, and building and leasehold improvements $ 4,273 $ 4,252 Computer equipment and related software 872 875 Production, engineering, and other equipment 5,157 5,163 Operating lease assets 338 337 Furniture, fixtures and other 385 387 Total gross property and equipment 11,025 11,014 Less: accumulated depreciation and amortization (8,613) (8,561) Total $ 2,412 $ 2,453
Deferred Revenue	Deferred revenue: Product $ 8,139 $ 7,895 Service 12,334 12,551 Total $ 20,473 $ 20,446 Reported as: Current $ 11,271 $ 11,406 Noncurrent 9,202 9,040 Total $ 20,473 $ 20,446
Remaining Performance Obligations	Remaining Performance Obligations: Product $ 11,340 $ 11,261 Service 16,129 17,093 Total $ 27,469 $ 28,354

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Oct. 24, 2020
Leases [Abstract]
Operating Lease Balances	The following table presents our operating lease balances (in millions): Balance Sheet Line Item October 24, 2020 July 25, 2020 Operating lease right-of-use assets Other assets $ 953 $ 921 Operating lease liabilities Other current liabilities $ 332 $ 341 Operating lease liabilities Other long-term liabilities 695 661 Total operating lease liabilities $ 1,027 $ 1,002
Lease Expenses and Supplemental Information	The components of our lease expenses were as follows (in millions): Three Months Ended October 24, 2020 October 26, 2019 Operating lease expense $ 98 $ 113 Short-term lease expense 18 17 Variable lease expense 46 40 Total lease expense $ 162 $ 170 Supplemental information related to our operating leases is as follows (in millions): Three Months Ended October 24, 2020 October 26, 2019 Cash paid for amounts included in the measurement of lease liabilities — operating cash flows $ 105 $ 104 Right-of-use assets obtained in exchange for operating leases liabilities $ 115 $ 48
Maturities of Operating Leases	The maturities of our operating leases (undiscounted) as of October 24, 2020 are as follows (in millions): Fiscal Year Amount 2021 (remaining nine months) $ 272 2022 269 2023 211 2024 136 2025 81 Thereafter 87 Total lease payments 1,056 Less interest (29) Total $ 1,027
Future Minimum Lease Payments on Lease Receivables	Future minimum lease payments on our lease receivables as of October 24, 2020 are summarized as follows (in millions): Fiscal Year Amount 2021 (remaining nine months) $ 670 2022 664 2023 418 2024 202 2025 109 Total 2,063 Less: Present value of lease payments 1,958 Unearned income $ 105
Operating Lease Assets	Amounts relating to equipment on operating lease assets held by Cisco and the associated accumulated depreciation are summarized as follows (in millions): October 24, 2020 July 25, 2020 Operating lease assets $ 338 $ 337 Accumulated depreciation (200) (198) Operating lease assets, net $ 138 $ 139
Minimum Future Rentals on Noncancelable Operating Leases	Minimum future rentals on noncancelable operating leases as of October 24, 2020 are summarized as follows (in millions): Fiscal Year Amount 2021 (remaining nine months) $ 58 2022 33 2023 12 2024 1 Total $ 104

Financing Receivables (Tables)

Financing Receivables (Tables)	3 Months Ended
Financing Receivables (Tables)	Oct. 24, 2020
Receivables [Abstract]
Summary of Financing Receivables	A summary of our financing receivables is presented as follows (in millions): October 24, 2020 Lease Loan Financed Service Total Gross $ 2,063 $ 5,954 $ 2,744 $ 10,761 Residual value 119 — — 119 Unearned income (105) — — (105) Allowance for credit loss (46) (101) (7) (154) Total, net $ 2,031 $ 5,853 $ 2,737 $ 10,621 Reported as: Current $ 936 $ 2,733 $ 1,436 $ 5,105 Noncurrent 1,095 3,120 1,301 5,516 Total, net $ 2,031 $ 5,853 $ 2,737 $ 10,621 July 25, 2020 Lease Loan Financed Service Total Gross $ 2,127 $ 5,937 $ 2,830 $ 10,894 Residual value 123 — — 123 Unearned income (114) — — (114) Allowance for credit loss (48) (81) (9) (138) Total, net $ 2,088 $ 5,856 $ 2,821 $ 10,765 Reported as: Current $ 918 $ 2,692 $ 1,441 $ 5,051 Noncurrent 1,170 3,164 1,380 5,714 Total, net $ 2,088 $ 5,856 $ 2,821 $ 10,765
Schedule of Financing Receivables by Internal Credit Risk Rating by Period of Origination	Gross financing receivables (1) categorized by our internal credit risk rating by period of origination as of October 24, 2020 are summarized as follows (in millions): Fiscal Year Three Months Ended Internal Credit Risk Rating Prior July 29, 2017 July 28, 2018 July 27, 2019 July 25, 2020 October 24, 2020 Total Lease Receivables: 1 to 4 $ 17 $ 60 $ 166 $ 263 $ 389 $ 25 $ 920 5 to 6 17 65 151 300 389 54 976 7 and Higher 4 3 9 21 21 4 62 Total Lease Receivables $ 38 $ 128 $ 326 $ 584 $ 799 $ 83 $ 1,958 Loan Receivables: 1 to 4 $ 30 $ 170 $ 458 $ 858 $ 1,430 $ 793 $ 3,739 5 to 6 16 87 174 456 887 441 2,061 7 and Higher 3 3 9 72 62 5 154 Total Loan Receivables $ 49 $ 260 $ 641 $ 1,386 $ 2,379 $ 1,239 $ 5,954 Financed Service Contracts: 1 to 4 $ 4 $ 56 $ 88 $ 246 $ 555 $ 634 $ 1,583 5 to 6 2 36 73 285 465 267 1,128 7 and Higher — — 3 16 13 1 33 Total Financed Service Contracts $ 6 $ 92 $ 164 $ 547 $ 1,033 $ 902 $ 2,744 (1) Lease receivables calculated as gross lease receivables, excluding residual value, less unearned income The following table summarizes our gross receivables categorized by our internal credit risk rating as of July 25, 2020 and was not restated to reflect the impact of adoption of the accounting standards update on Credit Losses on Financial Instruments : INTERNAL CREDIT RISK RATING July 25, 2020 1 to 4 5 to 6 7 and Higher Total Lease receivables $ 992 $ 952 $ 69 $ 2,013 Loan receivables 3,808 1,961 168 5,937 Financed service contracts 1,645 1,153 32 2,830 Total $ 6,445 $ 4,066 $ 269 $ 10,780
Schedule of Aging Analysis of Financing Receivables	The following tables present the aging analysis of gross receivables as of October 24, 2020 and July 25, 2020 (in millions): DAYS PAST DUE October 24, 2020 31-60 61-90 91+ Total Current Total 120+ Still Accruing Nonaccrual Impaired Lease receivables $ 45 $ 21 $ 103 $ 169 $ 1,789 $ 1,958 $ 4 $ 39 $ 39 Loan receivables 113 32 80 225 5,729 5,954 10 54 54 Financed service contracts 77 34 182 293 2,451 2,744 33 4 4 Total $ 235 $ 87 $ 365 $ 687 $ 9,969 $ 10,656 $ 47 $ 97 $ 97 DAYS PAST DUE July 25, 2020 31-60 61-90 91+ Total Current Total Nonaccrual Impaired Lease receivables $ 29 $ 47 $ 48 $ 124 $ 1,889 $ 2,013 $ 43 $ 43 Loan receivables 129 78 78 285 5,652 5,937 65 65 Financed service contracts 69 75 124 268 2,562 2,830 4 4 Total $ 227 $ 200 $ 250 $ 677 $ 10,103 $ 10,780 $ 112 $ 112
Schedule of Allowance for Credit Loss and Related Financing Receivables	The allowances for credit loss and the related financing receivables are summarized as follows (in millions): Three months ended October 24, 2020 CREDIT LOSS ALLOWANCES Lease Loan Financed Service Total Allowance for credit loss as of July 25, 2020 $ 48 $ 81 $ 9 $ 138 Provisions (benefits) (3) 3 (1) (1) Other 1 17 (1) 17 Allowance for credit loss as of October 24, 2020 $ 46 $ 101 $ 7 $ 154 Three months ended October 26, 2019 CREDIT LOSS ALLOWANCES Lease Loan Financed Service Total Allowance for credit loss as of July 27, 2019 $ 46 $ 71 $ 9 $ 126 Provisions (benefits) (3) 27 — 24 Recoveries (write-offs), net — (16) — (16) Foreign exchange and other — (1) — (1) Allowance for credit loss as of October 26, 2019 $ 43 $ 81 $ 9 $ 133

Available-for-Sale Debt and E_2

Available-for-Sale Debt and Equity Investments (Tables)	3 Months Ended
Available-for-Sale Debt and Equity Investments (Tables)	Oct. 24, 2020
Investments, Debt and Equity Securities [Abstract]
Summary of Available-for-Sale Debt Investments	The following tables summarize our available-for-sale debt investments (in millions): October 24, 2020 Amortized Gross Gross Fair U.S. government securities $ 2,656 $ 61 $ — $ 2,717 U.S. government agency securities 178 — — 178 Corporate debt securities 11,266 298 (27) 11,537 U.S. agency mortgage-backed securities 2,494 41 (6) 2,529 Commercial paper 1,712 — — 1,712 Certificates of deposit 517 — — 517 Total (1) $ 18,823 $ 400 $ (33) $ 19,190 July 25, 2020 Amortized Gross Gross Fair U.S. government securities $ 2,614 $ 71 $ — $ 2,685 U.S. government agency securities 110 — — 110 Corporate debt securities 11,549 334 (6) 11,877 U.S. agency mortgage-backed securities 1,987 49 (1) 2,035 Commercial paper 727 — — 727 Certificates of deposit 176 — — 176 Total $ 17,163 $ 454 $ (7) $ 17,610 (1) Net unsettled investment sales were $57 million as of October 24, 2020 and were included in other current assets.
Gross Realized Gains and Gross Realized Losses Related to Available-for-Sale Investment	The following table presents the gross realized gains and gross realized losses related to available-for-sale debt investments (in millions): Three Months Ended October 24, 2020 October 26, 2019 Gross realized gains $ 15 $ 12 Gross realized losses — (2) Total $ 15 $ 10
Available-for-Sale Investments with Gross Unrealized Losses	The following tables present the breakdown of the available-for-sale debt investments with gross unrealized losses and the duration that those losses had been unrealized at October 24, 2020 and July 25, 2020 (in millions): UNREALIZED LOSSES UNREALIZED LOSSES TOTAL October 24, 2020 Fair Value Gross Fair Value Gross Fair Value Gross U.S. government securities $ 144 $ — $ — $ — $ 144 $ — U.S. government agency securities 65 — — — 65 — Corporate debt securities 1,008 (2) — — 1,008 (2) U.S. agency mortgage-backed securities 1,076 (6) — — 1,076 (6) Certificates of deposit 15 — — — 15 — Total $ 2,308 $ (8) $ — $ — $ 2,308 $ (8) UNREALIZED LOSSES UNREALIZED LOSSES TOTAL July 25, 2020 Fair Value Gross Fair Value Gross Fair Value Gross U.S. government agency securities $ 33 $ — $ — $ — $ 33 $ — Corporate debt securities 1,060 (6) 3 — 1,063 (6) U.S. agency mortgage-backed securities 265 (1) — — 265 (1) Total $ 1,358 $ (7) $ 3 $ — $ 1,361 $ (7)
Maturities of Fixed Income Securities	The following table summarizes the maturities of our available-for-sale debt investments as of October 24, 2020 (in millions): Amortized Cost Fair Value Within 1 year $ 7,480 $ 7,490 After 1 year through 5 years 6,897 7,052 After 5 years through 10 years 1,943 2,109 After 10 years 9 10 Mortgage-backed securities with no single maturity 2,494 2,529 Total $ 18,823 $ 19,190

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
Fair Value (Tables)	Oct. 24, 2020
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Assets and liabilities measured at fair value on a recurring basis were as follows (in millions): OCTOBER 24, 2020 JULY 25, 2020 FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 8,634 $ — $ — $ 8,634 $ 10,024 $ — $ — $ 10,024 Corporate debt securities — 4 — 4 — 8 — 8 Commercial paper — 120 — 120 — — — — Available-for-sale debt investments: U.S. government securities — 2,717 — 2,717 — 2,685 — 2,685 U.S. government agency securities — 178 — 178 — 110 — 110 Corporate debt securities — 11,537 — 11,537 — 11,877 — 11,877 U.S. agency mortgage-backed securities — 2,529 — 2,529 — 2,035 — 2,035 Commercial paper — 1,712 — 1,712 — 727 — 727 Certificates of deposit — 517 — 517 — 176 — 176 Assets: Derivative assets — 179 3 182 — 190 1 191 Total $ 8,634 $ 19,493 $ 3 $ 28,130 $ 10,024 $ 17,808 $ 1 $ 27,833 Liabilities: Derivative liabilities $ — $ 22 $ — $ 22 $ — $ 10 $ — $ 10 Total $ — $ 22 $ — $ 22 $ — $ 10 $ — $ 10

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
Borrowings (Tables)	Oct. 24, 2020
Debt Disclosure [Abstract]
Schedule of Short-Term Debt	The following table summarizes our short-term debt (in millions, except percentages): October 24, 2020 July 25, 2020 Amount Effective Rate Amount Effective Rate Current portion of long-term debt $ 5,002 2.00 % $ 3,005 2.07 %
Schedule of Long-Term Debt	The following table summarizes our long-term debt (in millions, except percentages): October 24, 2020 July 25, 2020 Maturity Date Amount Effective Rate Amount Effective Rate Senior notes: Fixed-rate notes: 2.20% February 28, 2021 $ 2,500 2.30% $ 2,500 2.30% 2.90% March 4, 2021 500 0.91% 500 0.94% 1.85% September 20, 2021 2,000 1.90% 2,000 1.90% 3.00% June 15, 2022 500 1.19% 500 1.21% 2.60% February 28, 2023 500 2.68% 500 2.68% 2.20% September 20, 2023 750 2.27% 750 2.27% 3.625% March 4, 2024 1,000 1.03% 1,000 1.06% 3.50% June 15, 2025 500 1.35% 500 1.37% 2.95% February 28, 2026 750 3.01% 750 3.01% 2.50% September 20, 2026 1,500 2.55% 1,500 2.55% 5.90% February 15, 2039 2,000 6.11% 2,000 6.11% 5.50% January 15, 2040 2,000 5.67% 2,000 5.67% Total 14,500 14,500 Unaccreted discount/issuance costs (86) (88) Hedge accounting fair value adjustments 152 171 Total $ 14,566 $ 14,583 Reported as: Current portion of long-term debt $ 5,002 $ 3,005 Long-term debt 9,564 11,578 Total $ 14,566 $ 14,583
Schedule of Principal Payments for Long-Term Debt	As of October 24, 2020, future principal payments for long-term debt, including the current portion, are summarized as follows (in millions): Fiscal Year Amount 2021 (remaining nine months) $ 3,000 2022 2,500 2023 500 2024 1,750 2025 500 Thereafter 6,250 Total $ 14,500

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
Derivative Instruments (Tables)	Oct. 24, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives Recorded at Fair Value	The fair values of our derivative instruments and the line items on the Consolidated Balance Sheets to which they were recorded are summarized as follows (in millions): DERIVATIVE ASSETS DERIVATIVE LIABILITIES Balance Sheet Line Item October 24, July 25, Balance Sheet Line Item October 24, July 25, Derivatives designated as hedging instruments: Foreign currency derivatives Other current assets $ 11 $ 7 Other current liabilities $ 10 $ 2 Interest rate derivatives Other current assets 4 6 Other current liabilities — — Interest rate derivatives Other assets 151 169 Other long-term liabilities — — Total 166 182 10 2 Derivatives not designated as hedging instruments: Foreign currency derivatives Other current assets 13 8 Other current liabilities 11 8 Equity derivatives Other current assets — — Other current liabilities 1 — Equity derivatives Other assets 3 1 Other long-term liabilities — — Total 16 9 12 8 Total $ 182 $ 191 $ 22 $ 10
Cumulative Basis Adjustment For Fair Value Hedges	The following amounts were recorded on the Consolidated Balance Sheets related to cumulative basis adjustments for our fair value hedges (in millions): CARRYING AMOUNT OF THE HEDGED ASSETS/(LIABILITIES) CUMULATIVE AMOUNT OF FAIR VALUE HEDGING ADJUSTMENT INCLUDED IN THE CARRYING AMOUNT OF THE HEDGED ASSETS/LIABILITIES Balance Sheet Line Item of Hedged Item October 24, July 25, October 24, July 25, Short-term debt $ (504) $ (506) $ (4) $ (6) Long-term debt $ (2,143) $ (2,159) $ (148) $ (165)
Effect on Consolidated Statements of Operations of Derivative Instruments	The effect of derivative instruments designated as fair value hedges, recognized in interest and other income (loss), net is summarized as follows (in millions): Three Months Ended October 24, 2020 October 26, 2019 Interest rate derivatives: Hedged items $ 19 $ (21) Derivatives designated as hedging instruments (20) 22 Total $ (1) $ 1
Effect of Derivative Instruments Not Designated as Fair Value Hedges on Consolidated Statement of Operations Summary	The effect on the Consolidated Statements of Operations of derivative instruments not designated as hedges is summarized as follows (in millions): GAINS (LOSSES) FOR THE Derivatives Not Designated as Line Item in Statements of Operations October 24, October 26, Foreign currency derivatives Other income (loss), net $ 14 $ (7) Total return swaps—deferred compensation Operating expenses and other 23 — Equity derivatives Other income (loss), net 5 2 Total $ 42 $ (5)
Schedule of Notional Amounts of Derivatives Outstanding	The notional amounts of our outstanding derivatives are summarized as follows (in millions): October 24, July 25, Foreign currency derivatives $ 4,338 $ 4,315 Interest rate derivatives 2,500 2,500 Total return swaps—deferred compensation 621 580 Total $ 7,459 $ 7,395

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
Commitments and Contingencies (Tables)	Oct. 24, 2020
Commitments and Contingencies Disclosure [Abstract]
Compensation Expense Related to Business Acquisitions	The following table summarizes the compensation expense related to acquisitions (in millions): Three Months Ended October 24, 2020 October 26, 2019 Compensation expense related to acquisitions $ 57 $ 61
Schedule of Product Warranty Liability	The following table summarizes the activity related to the product warranty liability (in millions): Three Months Ended October 24, October 26, Balance at beginning of period $ 331 $ 342 Provisions for warranties issued 121 140 Adjustments for pre-existing warranties 1 (3) Settlements (122) (149) Balance at end of period $ 331 $ 330
Schedule of Guarantor Obligations	The aggregate amounts of financing guarantees outstanding at October 24, 2020 and July 25, 2020, representing the total maximum potential future payments under financing arrangements with third parties along with the related deferred revenue, are summarized in the following table (in millions): October 24, July 25, Maximum potential future payments relating to financing guarantees: Channel partner $ 193 $ 198 End user 8 9 Total $ 201 $ 207 Deferred revenue associated with financing guarantees: Channel partner $ (25) $ (19) End user (8) (9) Total $ (33) $ (28) Total $ 168 $ 179

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
Shareholders' Equity (Tables)	Oct. 24, 2020
Stockholders' Equity Note [Abstract]
Stock Repurchase Program	A summary of the stock repurchase activity for the first quarter of fiscal 2021 and fiscal 2020 under the stock repurchase program, reported based on the trade date, is summarized as follows (in millions, except per-share amounts): Quarter Ended Shares Weighted-Average Price per Share Amount Fiscal 2021 October 24, 2020 20 $ 40.44 $ 800 Fiscal 2020 July 25, 2020 — $ — $ — April 25, 2020 25 $ 39.71 $ 981 January 25, 2020 18 $ 46.71 $ 870 October 26, 2019 16 $ 48.91 $ 768

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
Employee Benefit Plans (Tables)	Oct. 24, 2020
Retirement Benefits [Abstract]
Summary of Share-Based Compensation Expense	The following table summarizes share-based compensation expense (in millions): Three Months Ended October 24, 2020 October 26, 2019 Cost of sales—product $ 24 $ 23 Cost of sales—service 41 34 Share-based compensation expense in cost of sales 65 57 Research and development 167 146 Sales and marketing 134 127 General and administrative 61 60 Restructuring and other charges 11 8 Share-based compensation expense in operating expenses 373 341 Total share-based compensation expense $ 438 $ 398 Income tax benefit for share-based compensation $ 81 $ 131
Summary of Restricted Stock and Stock Unit Activity	A summary of the restricted stock and stock unit activity, which includes time-based and performance-based or market-based RSUs, is as follows (in millions, except per-share amounts): Restricted Stock/ Weighted-Average Aggregate Fair Value UNVESTED BALANCE AT JULY 27, 2019 100 $ 38.66 Granted 49 42.61 Vested (44) 35.20 $ 2,045 Canceled/forfeited/other (9) 40.45 UNVESTED BALANCE AT JULY 25, 2020 96 42.03 Granted 10 37.16 Vested (6) 39.95 $ 264 Canceled/forfeited/other (4) 39.17 UNVESTED BALANCE AT OCTOBER 24, 2020 96 $ 41.77

Comprehensive Income (Loss) (Ta

Comprehensive Income (Loss) (Tables)	3 Months Ended
Comprehensive Income (Loss) (Tables)	Oct. 24, 2020
Equity [Abstract]
Components of AOCI, Net of Tax	The components of AOCI, net of tax, and the other comprehensive income (loss), for the first quarter of fiscal 2021 and 2020 are summarized as follows (in millions): Net Unrealized Gains (Losses) on Available-for-Sale Investments Net Unrealized Gains (Losses) Cash Flow Hedging Instruments Cumulative Translation Adjustment and Actuarial Gains (Losses) Accumulated Other Comprehensive Income (Loss) BALANCE AT JULY 25, 2020 $ 315 $ (6) $ (828) $ (519) Other comprehensive income (loss) before reclassifications (41) (2) 110 67 (Gains) losses reclassified out of AOCI (15) (2) — (17) Tax benefit (expense) 22 1 (1) 22 BALANCE AT OCTOBER 24, 2020 $ 281 $ (9) $ (719) $ (447) Net Unrealized Gains (Losses) on Available-for-Sale Investments Net Unrealized Gains (Losses) Cash Flow Hedging Instruments Cumulative Translation Adjustment and Actuarial Gains (Losses) Accumulated Other Comprehensive Income (Loss) BALANCE AT JULY 27, 2019 $ — $ (14) $ (778) $ (792) Other comprehensive income (loss) before reclassifications 87 (1) (92) (6) (Gains) losses reclassified out of AOCI (10) — 1 (9) Tax benefit (expense) (9) 1 — (8) BALANCE AT OCTOBER 26, 2019 $ 68 $ (14) $ (869) $ (815)

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
Income Taxes (Tables)	Oct. 24, 2020
Income Tax Disclosure [Abstract]
Income Tax Provision	The following table provides details of income taxes (in millions, except percentages): Three Months Ended October 24, October 26, Income before provision for income taxes $ 2,681 $ 3,686 Provision for income taxes $ 507 $ 760 Effective tax rate 18.9 % 20.6 %

Segment Information and Major_2

Segment Information and Major Customers (Tables)	3 Months Ended
Segment Information and Major Customers (Tables)	Oct. 24, 2020
Segment Reporting [Abstract]
Reportable Segments	Summarized financial information by segment for the first quarter of fiscal 2021 and 2020, based on our internal management system and as utilized by our Chief Operating Decision Maker (“CODM”), is as follows (in millions): Three Months Ended October 24, October 26, Revenue: Americas $ 7,198 $ 7,977 EMEA 2,964 3,283 APJC 1,767 1,899 Total $ 11,929 $ 13,159 Gross margin: Americas $ 4,847 $ 5,316 EMEA 1,894 2,166 APJC 1,113 1,194 Segment total 7,853 8,676 Unallocated corporate items (272) (212) Total $ 7,581 $ 8,464
Net Sales for Groups of Similar Products and Services	The following table presents this disaggregation of revenue (in millions): Three Months Ended October 24, October 26, Revenue: Infrastructure Platforms $ 6,341 $ 7,553 Applications 1,380 1,499 Security 861 816 Other Products 5 11 Total Product 8,587 9,878 Services 3,342 3,281 Total $ 11,929 $ 13,159 The following table presents revenue for groups of similar products and services (in millions): Three Months Ended October 24, October 26, Revenue: Infrastructure Platforms $ 6,341 $ 7,553 Applications 1,380 1,499 Security 861 816 Other Products 5 11 Total Product 8,587 9,878 Services 3,342 3,281 Total $ 11,929 $ 13,159

Net Income per Share (Tables)

Net Income per Share (Tables)	3 Months Ended
Net Income per Share (Tables)	Oct. 24, 2020
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Net Income per Share	The following table presents the calculation of basic and diluted net income per share (in millions, except per-share amounts): Three Months Ended October 24, October 26, Net income $ 2,174 $ 2,926 Weighted-average shares—basic 4,230 4,246 Effect of dilutive potential common shares 14 27 Weighted-average shares—diluted 4,244 4,273 Net income per share—basic $ 0.51 $ 0.69 Net income per share—diluted $ 0.51 $ 0.68 Antidilutive employee share-based awards, excluded 35 11

Basis of Presentation (Details)

Basis of Presentation (Details)	3 Months Ended
Basis of Presentation (Details)	Oct. 24, 2020segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of geographic segments	3

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019	Jul. 25, 2020
Disaggregation of Revenue [Line Items]
Allowance for future sales returns	$ 81		$ 79
Payment terms	30 days
Accounts receivable, net	$ 3,980		5,472
Deferred revenue	20,473		20,446
Revenue recognized	3,900
Total deferred sales commissions	771		732
Amortization of sales commissions, expense	123	$ 116
Software and Service Agreements
Disaggregation of Revenue [Line Items]
Total contract assets	$ 1,200		$ 1,200

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 11,929	$ 13,159
Product
Disaggregation of Revenue [Line Items]
Revenue	8,587	9,878
Infrastructure Platforms
Disaggregation of Revenue [Line Items]
Revenue	6,341	7,553
Applications
Disaggregation of Revenue [Line Items]
Revenue	1,380	1,499
Security
Disaggregation of Revenue [Line Items]
Revenue	861	816
Other Products
Disaggregation of Revenue [Line Items]
Revenue	5	11
Services
Disaggregation of Revenue [Line Items]
Revenue	$ 3,342	$ 3,281

Revenue - Schedule of Internal

Revenue - Schedule of Internal Risk Ratings for Contract Assets (Details) $ in Millions	Oct. 24, 2020USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
Contract asset, gross	$ 1,298
1 to 4
Financing Receivable, Credit Quality Indicator [Line Items]
Contract asset, gross	442
5 to 6
Financing Receivable, Credit Quality Indicator [Line Items]
Contract asset, gross	737
7 and Higher
Financing Receivable, Credit Quality Indicator [Line Items]
Contract asset, gross	$ 119

Acquisitions and Divestitures -

Acquisitions and Divestitures - Additional Information (Details)	3 Months Ended		6 Months Ended
	Oct. 24, 2020USD ($)acquisition	Oct. 26, 2019USD ($)	Jan. 23, 2021USD ($)
Business Acquisition [Line Items]
Number of acquisitions \| acquisition	3
Acquired cash and cash equivalents	$ 34,000,000
Goodwill, expected tax deductible	0
Acacia Communications, Inc. \| Forecast
Business Acquisition [Line Items]
Payment consideration to acquire business, net of cash and marketable securities			$ 2,600,000,000
General and administrative
Business Acquisition [Line Items]
Acquisition related costs	$ 4,000,000	$ 5,000,000

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Summary of Allocation of Total Purchase Consideration (Details) $ in Millions	3 Months Ended
	Oct. 24, 2020USD ($)acquisition
Business Combinations [Abstract]
Number of acquisitions \| acquisition	3
Purchase Consideration	$ 878
Net Tangible Assets Acquired (Liabilities Assumed)	2
Purchased Intangible Assets	210
Goodwill	$ 666

Goodwill and Purchased Intang_3

Goodwill and Purchased Intangible Assets - Schedule of Goodwill by Reportable Segments (Details) $ in Millions	3 Months Ended
	Oct. 24, 2020USD ($)
Goodwill [Roll Forward]
Beginning Balance	$ 33,806
Acquisitions	666
Foreign Currency Translation and Other	63
Ending Balance	34,535
Americas
Goodwill [Roll Forward]
Beginning Balance	21,304
Acquisitions	393
Foreign Currency Translation and Other	40
Ending Balance	21,737
EMEA
Goodwill [Roll Forward]
Beginning Balance	8,040
Acquisitions	183
Foreign Currency Translation and Other	15
Ending Balance	8,238
APJC
Goodwill [Roll Forward]
Beginning Balance	4,462
Acquisitions	90
Foreign Currency Translation and Other	8
Ending Balance	$ 4,560

Goodwill and Purchased Intang_4

Goodwill and Purchased Intangible Assets - Schedule of Intangible Assets Acquired Through Business Combinations (Details) $ in Millions	3 Months Ended
	Oct. 24, 2020USD ($)acquisition
Intangible Assets Acquired Through Business Combinations
Number of acquisitions \| acquisition	3
Total, amount	$ 210
IPR&D
Intangible Assets Acquired Through Business Combinations
Indefinite lives, amount	$ 0
TECHNOLOGY
Intangible Assets Acquired Through Business Combinations
Weighted- Average Useful Life (in Years)	3 years 10 months 24 days
Finite lives, amount	$ 162
CUSTOMER RELATIONSHIPS
Intangible Assets Acquired Through Business Combinations
Weighted- Average Useful Life (in Years)	4 years
Finite lives, amount	$ 42
OTHER
Intangible Assets Acquired Through Business Combinations
Weighted- Average Useful Life (in Years)	2 years
Finite lives, amount	$ 6

Goodwill and Purchased Intang_5

Goodwill and Purchased Intangible Assets - Schedule of Purchased Intangible Assets With Finite and Indefinite Lives (Details) - USD ($) $ in Millions	Oct. 24, 2020	Jul. 25, 2020
Purchased intangible assets with finite lives:
Gross	$ 3,897	$ 4,084
Accumulated Amortization	(2,502)	(2,721)
Total purchased intangible assets with finite lives, net	1,395	1,363
In-process research and development, with indefinite lives	186	213
Total finite and indefinite lives intangible assets, gross	4,083	4,297
Total finite and indefinite lives intangible assets, net	1,581	1,576
Technology
Purchased intangible assets with finite lives:
Gross	3,086	3,298
Accumulated Amortization	(2,104)	(2,336)
Total purchased intangible assets with finite lives, net	982	962
Customer relationships
Purchased intangible assets with finite lives:
Gross	797	760
Accumulated Amortization	(393)	(365)
Total purchased intangible assets with finite lives, net	404	395
Other
Purchased intangible assets with finite lives:
Gross	14	26
Accumulated Amortization	(5)	(20)
Total purchased intangible assets with finite lives, net	$ 9	$ 6

Goodwill and Purchased Intang_6

Goodwill and Purchased Intangible Assets - Schedule of Amortization of Purchased Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of purchased intangible assets	$ 36	$ 36
Total
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of purchased intangible assets	206	202
Cost of sales
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of purchased intangible assets	170	166
Operating expenses and other
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of purchased intangible assets	$ 36	$ 36

Goodwill and Purchased Intang_7

Goodwill and Purchased Intangible Assets - Schedule of Estimated Future Amortization Expense of Purchased Intangible Assets (Details) $ in Millions	Oct. 24, 2020USD ($)
Finite-Lived Intangible Assets, Future Amortization Expense [Abstract]
2021 (remaining nine months)	$ 487
2022	431
2023	286
2024	170
2025	15
Thereafter	$ 6

Restructuring and Other Charg_3

Restructuring and Other Charges - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 602	$ 184
Fiscal 2021 Plan
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	900
Restructuring charges	602
Fiscal 2020 Plan
Restructuring Cost and Reserve [Line Items]
Expected restructuring charges	300
Cumulative restructuring charges incurred	$ 255

Restructuring and Other Charg_4

Restructuring and Other Charges - Schedule of Activities Related to Restructuring and Other Charges (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019
Restructuring Reserve [Roll Forward]
Liability as of beginning period	$ 72	$ 33
Charges	602	184
Cash payments	(330)	(155)
Non-cash items	(11)	(15)
Liability as of ending period	333	47
FISCAL 2020 AND PRIOR PLANS \| Employee Severance
Restructuring Reserve [Roll Forward]
Liability as of beginning period	58
Charges	0
Cash payments	(58)
Non-cash items	0
Liability as of ending period	0
FISCAL 2020 AND PRIOR PLANS \| Other
Restructuring Reserve [Roll Forward]
Liability as of beginning period	14
Charges	0
Cash payments	0
Non-cash items	0
Liability as of ending period	14
FISCAL 2021 PLAN
Restructuring Reserve [Roll Forward]
Charges	602
FISCAL 2021 PLAN \| Employee Severance
Restructuring Reserve [Roll Forward]
Liability as of beginning period	0
Charges	590
Cash payments	(272)
Non-cash items	0
Liability as of ending period	318
FISCAL 2021 PLAN \| Other
Restructuring Reserve [Roll Forward]
Liability as of beginning period	0
Charges	12
Cash payments	0
Non-cash items	(11)
Liability as of ending period	$ 1
FISCAL 2018 AND PRIOR PLANS \| Employee Severance
Restructuring Reserve [Roll Forward]
Liability as of beginning period		22
Charges		175
Cash payments		(154)
Non-cash items		0
Liability as of ending period		43
FISCAL 2018 AND PRIOR PLANS \| Other
Restructuring Reserve [Roll Forward]
Liability as of beginning period		11
Charges		9
Cash payments		(1)
Non-cash items		(15)
Liability as of ending period		$ 4

Balance Sheet and Other Detai_3

Balance Sheet and Other Details (Details) - USD ($) $ in Millions	Oct. 24, 2020	Jul. 25, 2020	Oct. 26, 2019	Jul. 27, 2019
Cash, cash equivalents, and restricted cash:
Cash and cash equivalents	$ 10,822	$ 11,809
Restricted cash included in other current assets	3	0
Restricted cash included in other assets	0	3
Total cash, cash equivalents, and restricted cash	10,825	11,812	$ 8,613	$ 11,772
Inventories:
Raw materials	380	456
Work in process	19	25
Finished goods:
Deferred cost of sales	54	59
Manufactured finished goods	646	542
Total finished goods	700	601
Service-related spares	191	184
Demonstration systems	13	16
Total	1,303	1,282
Property, Plant and Equipment [Line Items]
Total gross property and equipment	11,025	11,014
Less: accumulated depreciation and amortization	(8,613)	(8,561)
Total	2,412	2,453
Deferred revenue:
Deferred revenue:	20,473	20,446
Current	11,271	11,406
Noncurrent	9,202	9,040
Remaining Performance Obligations:
Remaining performance obligation	27,469	28,354
Product
Deferred revenue:
Deferred revenue:	8,139	7,895
Remaining Performance Obligations:
Remaining performance obligation	11,340	11,261
Service
Deferred revenue:
Deferred revenue:	12,334	12,551
Remaining Performance Obligations:
Remaining performance obligation	16,129	17,093
Land, buildings, and building and leasehold improvements
Property, Plant and Equipment [Line Items]
Total gross property and equipment	4,273	4,252
Computer equipment and related software
Property, Plant and Equipment [Line Items]
Total gross property and equipment	872	875
Production, engineering, and other equipment
Property, Plant and Equipment [Line Items]
Total gross property and equipment	5,157	5,163
Operating lease assets
Property, Plant and Equipment [Line Items]
Total gross property and equipment	338	337
Less: accumulated depreciation and amortization	(200)	(198)
Total	138	139
Furniture, fixtures and other
Property, Plant and Equipment [Line Items]
Total gross property and equipment	$ 385	$ 387

Balance Sheet and Other Detai_4

Balance Sheet and Other Details - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019	Jul. 25, 2020
Disaggregation of Revenue [Line Items]
Provision for inventory	$ 29	$ 18
Deferred revenue	20,473		$ 20,446
Remaining performance obligation	27,469		28,354
Unbilled Contract Revenue
Disaggregation of Revenue [Line Items]
Remaining performance obligation	$ 7,000		$ 7,900

Balance Sheet and Other Detai_5

Balance Sheet and Other Details - Remaining Performance Obligation (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-25	Oct. 24, 2020
Revenue from Contract with Customer [Abstract]
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	53.00%

Leases - Operating Lease Balanc

Leases - Operating Lease Balances (Details) - USD ($) $ in Millions	Oct. 24, 2020	Jul. 25, 2020
Leases [Abstract]
Operating lease right-of-use assets	$ 953	$ 921
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssets	us-gaap:OtherAssets
Operating lease liabilities	$ 332	$ 341
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent
Operating lease liabilities	$ 695	$ 661
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent
Total operating lease liabilities	$ 1,027	$ 1,002

Leases - Lease Expenses (Detail

Leases - Lease Expenses (Details) - USD ($) $ in Millions	3 Months Ended
Leases - Lease Expenses (Details) - USD ($) $ in Millions	Oct. 24, 2020	Oct. 26, 2019
Leases [Abstract]
Operating lease expense	$ 98	$ 113
Short-term lease expense	18	17
Variable lease expense	46	40
Total lease expense	$ 162	$ 170

Leases - Supplemental Informati

Leases - Supplemental Information (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities — operating cash flows	$ 105	$ 104
Right-of-use assets obtained in exchange for operating leases liabilities	$ 115	$ 48

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019
Leases [Abstract]
Weighted-average remaining lease term (in years)	4 years 2 months 12 days	4 years 2 months 12 days
Weighted-average discount rate	1.30%	1.90%
Sales-type lease terms, on average	4 years
Interest income, lease receivables	$ 21	$ 26
Operating lease income	$ 43	$ 44

Leases - Lessee, Maturities of

Leases - Lessee, Maturities of Operating Leases (Details) - USD ($) $ in Millions	Oct. 24, 2020	Jul. 25, 2020
Leases [Abstract]
2021 (remaining nine months)	$ 272
2022	269
2023	211
2024	136
2025	81
Thereafter	87
Total lease payments	1,056
Less interest	(29)
Total	$ 1,027	$ 1,002

Leases - Lessor, Future Minimum

Leases - Lessor, Future Minimum Lease Payments on Lease Receivables (Details) $ in Millions	Oct. 24, 2020USD ($)
Future Minimum Lease Payments, After Topic 842 Adoption [Abstract]
2021 (remaining nine months)	$ 670
2022	664
2023	418
2024	202
2025	109
Total	2,063
Less: Present value of lease payments	1,958
Unearned income	$ 105

Leases - Operating Lease Assets

Leases - Operating Lease Assets (Details) - USD ($) $ in Millions	Oct. 24, 2020	Jul. 25, 2020
Lessor, Lease, Description [Line Items]
Operating lease assets	$ 11,025	$ 11,014
Accumulated depreciation	(8,613)	(8,561)
Total	2,412	2,453
Operating lease assets
Lessor, Lease, Description [Line Items]
Operating lease assets	338	337
Accumulated depreciation	(200)	(198)
Total	$ 138	$ 139

Leases - Lessor, Minimum Future

Leases - Lessor, Minimum Future Rentals on Noncancelable operating leases (Details) $ in Millions	Oct. 24, 2020USD ($)
Minimum Future Rentals on Noncancelable Operating Leases [Abstract]
2021 (remaining nine months)	$ 58
2022	33
2023	12
2024	1
Total	$ 104

Financing Receivables - Additio

Financing Receivables - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 24, 2020	Jul. 25, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Lease receivables terms, on average	4 years
Loan receivables term	3 years
Threshold for past due receivables	31 days
Financing receivable, 120 days plus past due but on accrual status	$ 47	$ 67
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financed service contracts term	1 year
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financed service contracts term	3 years

Financing Receivables - Schedul

Financing Receivables - Schedule of Financing Receivables (Details) - USD ($) $ in Millions	Oct. 24, 2020	Jul. 25, 2020	Oct. 26, 2019	Jul. 27, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross	$ 10,761	$ 10,894
Residual value	119	123
Unearned income	(105)	(114)
Allowance for credit loss	(154)	(138)	$ (133)	$ (126)
Total, net	10,621	10,765
Current	5,105	5,051
Noncurrent	5,516	5,714
Lease Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross	2,063	2,127
Residual value	119	123
Unearned income	(105)	(114)
Allowance for credit loss	(46)	(48)	(43)	(46)
Total, net	2,031	2,088
Current	936	918
Noncurrent	1,095	1,170
Loan Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross	5,954	5,937
Unearned income	0	0
Allowance for credit loss	(101)	(81)	(81)	(71)
Total, net	5,853	5,856
Current	2,733	2,692
Noncurrent	3,120	3,164
Financed Service Contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross	2,744	2,830
Unearned income	0	0
Allowance for credit loss	(7)	(9)	$ (9)	$ (9)
Total, net	2,737	2,821
Current	1,436	1,441
Noncurrent	$ 1,301	$ 1,380

Financing Receivables - Sched_2

Financing Receivables - Schedule of Financing Receivables Categorized by Internal Credit Risk Rating (Details) - USD ($) $ in Millions	Oct. 24, 2020	Jul. 25, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Gross	$ 10,656	$ 10,780
Lease Receivables
Financing Receivable, Credit Quality Indicator [Line Items]
Origination year - Prior	38
Origination year - Fiscal Year 2017	128
Origination year - Fiscal Year 2018	326
Origination year - Fiscal Year 2019	584
Origination year - Fiscal Year 2020	799
Origination year - Fiscal Year 2021	83
Gross	1,958	2,013
Loan Receivables
Financing Receivable, Credit Quality Indicator [Line Items]
Origination year - Prior	49
Origination year - Fiscal Year 2017	260
Origination year - Fiscal Year 2018	641
Origination year - Fiscal Year 2019	1,386
Origination year - Fiscal Year 2020	2,379
Origination year - Fiscal Year 2021	1,239
Gross	5,954	5,937
Financed Service Contracts
Financing Receivable, Credit Quality Indicator [Line Items]
Origination year - Prior	6
Origination year - Fiscal Year 2017	92
Origination year - Fiscal Year 2018	164
Origination year - Fiscal Year 2019	547
Origination year - Fiscal Year 2020	1,033
Origination year - Fiscal Year 2021	902
Gross	2,744	2,830
1 to 4
Financing Receivable, Credit Quality Indicator [Line Items]
Gross		6,445
1 to 4 \| Lease Receivables
Financing Receivable, Credit Quality Indicator [Line Items]
Origination year - Prior	17
Origination year - Fiscal Year 2017	60
Origination year - Fiscal Year 2018	166
Origination year - Fiscal Year 2019	263
Origination year - Fiscal Year 2020	389
Origination year - Fiscal Year 2021	25
Gross	920	992
1 to 4 \| Loan Receivables
Financing Receivable, Credit Quality Indicator [Line Items]
Origination year - Prior	30
Origination year - Fiscal Year 2017	170
Origination year - Fiscal Year 2018	458
Origination year - Fiscal Year 2019	858
Origination year - Fiscal Year 2020	1,430
Origination year - Fiscal Year 2021	793
Gross	3,739	3,808
1 to 4 \| Financed Service Contracts
Financing Receivable, Credit Quality Indicator [Line Items]
Origination year - Prior	4
Origination year - Fiscal Year 2017	56
Origination year - Fiscal Year 2018	88
Origination year - Fiscal Year 2019	246
Origination year - Fiscal Year 2020	555
Origination year - Fiscal Year 2021	634
Gross	1,583	1,645
5 to 6
Financing Receivable, Credit Quality Indicator [Line Items]
Gross		4,066
5 to 6 \| Lease Receivables
Financing Receivable, Credit Quality Indicator [Line Items]
Origination year - Prior	17
Origination year - Fiscal Year 2017	65
Origination year - Fiscal Year 2018	151
Origination year - Fiscal Year 2019	300
Origination year - Fiscal Year 2020	389
Origination year - Fiscal Year 2021	54
Gross	976	952
5 to 6 \| Loan Receivables
Financing Receivable, Credit Quality Indicator [Line Items]
Origination year - Prior	16
Origination year - Fiscal Year 2017	87
Origination year - Fiscal Year 2018	174
Origination year - Fiscal Year 2019	456
Origination year - Fiscal Year 2020	887
Origination year - Fiscal Year 2021	441
Gross	2,061	1,961
5 to 6 \| Financed Service Contracts
Financing Receivable, Credit Quality Indicator [Line Items]
Origination year - Prior	2
Origination year - Fiscal Year 2017	36
Origination year - Fiscal Year 2018	73
Origination year - Fiscal Year 2019	285
Origination year - Fiscal Year 2020	465
Origination year - Fiscal Year 2021	267
Gross	1,128	1,153
7 and Higher
Financing Receivable, Credit Quality Indicator [Line Items]
Gross		269
7 and Higher \| Lease Receivables
Financing Receivable, Credit Quality Indicator [Line Items]
Origination year - Prior	4
Origination year - Fiscal Year 2017	3
Origination year - Fiscal Year 2018	9
Origination year - Fiscal Year 2019	21
Origination year - Fiscal Year 2020	21
Origination year - Fiscal Year 2021	4
Gross	62	69
7 and Higher \| Loan Receivables
Financing Receivable, Credit Quality Indicator [Line Items]
Origination year - Prior	3
Origination year - Fiscal Year 2017	3
Origination year - Fiscal Year 2018	9
Origination year - Fiscal Year 2019	72
Origination year - Fiscal Year 2020	62
Origination year - Fiscal Year 2021	5
Gross	154	168
7 and Higher \| Financed Service Contracts
Financing Receivable, Credit Quality Indicator [Line Items]
Origination year - Prior	0
Origination year - Fiscal Year 2017	0
Origination year - Fiscal Year 2018	3
Origination year - Fiscal Year 2019	16
Origination year - Fiscal Year 2020	13
Origination year - Fiscal Year 2021	1
Gross	$ 33	$ 32

Financing Receivables - Sched_3

Financing Receivables - Schedule of Aging Analysis of Financing Receivables (Details) - USD ($) $ in Millions	Oct. 24, 2020	Jul. 25, 2020
Financing Receivable, Past Due [Line Items]
Total Past Due	$ 687	$ 677
Current	9,969	10,103
Gross	10,656	10,780
120+ Still Accruing	47	67
Nonaccrual Financing Receivables	97	112
Impaired Financing Receivables	97	112
Past due 31-60 days
Financing Receivable, Past Due [Line Items]
Total Past Due	235	227
Past due 61-90 days
Financing Receivable, Past Due [Line Items]
Total Past Due	87	200
Past due 91 or above days
Financing Receivable, Past Due [Line Items]
Total Past Due	365	250
Lease Receivables
Financing Receivable, Past Due [Line Items]
Total Past Due	169	124
Current	1,789	1,889
Gross	1,958	2,013
120+ Still Accruing	4
Nonaccrual Financing Receivables	39	43
Impaired Financing Receivables	39	43
Lease Receivables \| Past due 31-60 days
Financing Receivable, Past Due [Line Items]
Total Past Due	45	29
Lease Receivables \| Past due 61-90 days
Financing Receivable, Past Due [Line Items]
Total Past Due	21	47
Lease Receivables \| Past due 91 or above days
Financing Receivable, Past Due [Line Items]
Total Past Due	103	48
Loan Receivables
Financing Receivable, Past Due [Line Items]
Total Past Due	225	285
Current	5,729	5,652
Gross	5,954	5,937
120+ Still Accruing	10
Nonaccrual Financing Receivables	54	65
Impaired Financing Receivables	54	65
Loan Receivables \| Past due 31-60 days
Financing Receivable, Past Due [Line Items]
Total Past Due	113	129
Loan Receivables \| Past due 61-90 days
Financing Receivable, Past Due [Line Items]
Total Past Due	32	78
Loan Receivables \| Past due 91 or above days
Financing Receivable, Past Due [Line Items]
Total Past Due	80	78
Financed Service Contracts
Financing Receivable, Past Due [Line Items]
Total Past Due	293	268
Current	2,451	2,562
Gross	2,744	2,830
120+ Still Accruing	33
Nonaccrual Financing Receivables	4	4
Impaired Financing Receivables	4	4
Financed Service Contracts \| Past due 31-60 days
Financing Receivable, Past Due [Line Items]
Total Past Due	77	69
Financed Service Contracts \| Past due 61-90 days
Financing Receivable, Past Due [Line Items]
Total Past Due	34	75
Financed Service Contracts \| Past due 91 or above days
Financing Receivable, Past Due [Line Items]
Total Past Due	$ 182	$ 124

Financing Receivables - Summary

Financing Receivables - Summary of Allowances for Credit Loss and Related Financing Receivables (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit loss as of beginning of period	$ 138	$ 126
Provisions (benefits)	(1)	24
Recoveries (write-offs), net		(16)
Foreign exchange and other	17	(1)
Allowance for credit loss as of end of period	154	133
Lease Receivables
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit loss as of beginning of period	48	46
Provisions (benefits)	(3)	(3)
Recoveries (write-offs), net		0
Foreign exchange and other	1	0
Allowance for credit loss as of end of period	46	43
Loan Receivables
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit loss as of beginning of period	81	71
Provisions (benefits)	3	27
Recoveries (write-offs), net		(16)
Foreign exchange and other	17	(1)
Allowance for credit loss as of end of period	101	81
Financed Service Contracts
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit loss as of beginning of period	9	9
Provisions (benefits)	(1)	0
Recoveries (write-offs), net		0
Foreign exchange and other	(1)	0
Allowance for credit loss as of end of period	$ 7	$ 9

Available-for-Sale Debt and E_3

Available-for-Sale Debt and Equity Investments - Summary of Available-for-Sale Debt Investments (Details) - USD ($) $ in Millions	Oct. 24, 2020	Jul. 25, 2020
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost	$ 18,823	$ 17,163
Gross Unrealized Gains	400	454
Gross Unrealized and Credit Losses	(33)
Gross Unrealized Losses		(7)
Fair Value	19,190	17,610
Net unsettled investment sales	57
U.S. government securities
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost	2,656	2,614
Gross Unrealized Gains	61	71
Gross Unrealized and Credit Losses	0
Gross Unrealized Losses		0
Fair Value	2,717	2,685
U.S. government agency securities
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost	178	110
Gross Unrealized Gains	0	0
Gross Unrealized and Credit Losses	0
Gross Unrealized Losses		0
Fair Value	178	110
Corporate debt securities
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost	11,266	11,549
Gross Unrealized Gains	298	334
Gross Unrealized and Credit Losses	(27)
Gross Unrealized Losses		(6)
Fair Value	11,537	11,877
U.S. agency mortgage-backed securities
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost	2,494	1,987
Gross Unrealized Gains	41	49
Gross Unrealized and Credit Losses	(6)
Gross Unrealized Losses		(1)
Fair Value	2,529	2,035
Commercial paper
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost	1,712	727
Gross Unrealized Gains	0	0
Gross Unrealized and Credit Losses	0
Gross Unrealized Losses		0
Fair Value	1,712	727
Certificates of deposit
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost	517	176
Gross Unrealized Gains	0	0
Gross Unrealized and Credit Losses	0
Gross Unrealized Losses		0
Fair Value	$ 517	$ 176

Available-for-Sale Debt and E_4

Available-for-Sale Debt and Equity Investments - Gross Realized Gains and Gross Realized Losses Related to Available-for-Sale Investment (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019
Investments [Abstract]
Gross realized gains	$ 15	$ 12
Gross realized losses	0	(2)
Total	$ 15	$ 10

Available-for-Sale Debt and E_5

Available-for-Sale Debt and Equity Investments - Available-for-Sale Investments With Gross Unrealized Losses (Details) - USD ($) $ in Millions	Oct. 24, 2020	Jul. 25, 2020
Schedule of Investments [Line Items]
UNREALIZED LOSSES LESS THAN 12 MONTHS, Fair Value	$ 2,308	$ 1,358
UNREALIZED LOSSES LESS THAN 12 MONTHS, Gross Unrealized Losses	(8)	(7)
UNREALIZED LOSSES 12 MONTHS OR GREATER, Fair Value	0	3
UNREALIZED LOSSES 12 MONTHS OR GREATER, Gross Unrealized Losses	0	0
TOTAL, Fair Value	2,308	1,361
TOTAL, Gross Unrealized Losses	(8)	(7)
U.S. government securities
Schedule of Investments [Line Items]
UNREALIZED LOSSES LESS THAN 12 MONTHS, Fair Value	144
UNREALIZED LOSSES LESS THAN 12 MONTHS, Gross Unrealized Losses	0
UNREALIZED LOSSES 12 MONTHS OR GREATER, Fair Value	0
UNREALIZED LOSSES 12 MONTHS OR GREATER, Gross Unrealized Losses	0
TOTAL, Fair Value	144
TOTAL, Gross Unrealized Losses	0
U.S. government agency securities
Schedule of Investments [Line Items]
UNREALIZED LOSSES LESS THAN 12 MONTHS, Fair Value	65	33
UNREALIZED LOSSES LESS THAN 12 MONTHS, Gross Unrealized Losses	0	0
UNREALIZED LOSSES 12 MONTHS OR GREATER, Fair Value	0	0
UNREALIZED LOSSES 12 MONTHS OR GREATER, Gross Unrealized Losses	0	0
TOTAL, Fair Value	65	33
TOTAL, Gross Unrealized Losses	0	0
Corporate debt securities
Schedule of Investments [Line Items]
UNREALIZED LOSSES LESS THAN 12 MONTHS, Fair Value	1,008	1,060
UNREALIZED LOSSES LESS THAN 12 MONTHS, Gross Unrealized Losses	(2)	(6)
UNREALIZED LOSSES 12 MONTHS OR GREATER, Fair Value	0	3
UNREALIZED LOSSES 12 MONTHS OR GREATER, Gross Unrealized Losses	0	0
TOTAL, Fair Value	1,008	1,063
TOTAL, Gross Unrealized Losses	(2)	(6)
U.S. agency mortgage-backed securities
Schedule of Investments [Line Items]
UNREALIZED LOSSES LESS THAN 12 MONTHS, Fair Value	1,076	265
UNREALIZED LOSSES LESS THAN 12 MONTHS, Gross Unrealized Losses	(6)	(1)
UNREALIZED LOSSES 12 MONTHS OR GREATER, Fair Value	0	0
UNREALIZED LOSSES 12 MONTHS OR GREATER, Gross Unrealized Losses	0	0
TOTAL, Fair Value	1,076	265
TOTAL, Gross Unrealized Losses	(6)	$ (1)
Certificates of deposit
Schedule of Investments [Line Items]
UNREALIZED LOSSES LESS THAN 12 MONTHS, Fair Value	15
UNREALIZED LOSSES LESS THAN 12 MONTHS, Gross Unrealized Losses	0
UNREALIZED LOSSES 12 MONTHS OR GREATER, Fair Value	0
UNREALIZED LOSSES 12 MONTHS OR GREATER, Gross Unrealized Losses	0
TOTAL, Fair Value	15
TOTAL, Gross Unrealized Losses	$ 0

Available-for-Sale Debt and E_6

Available-for-Sale Debt and Equity Investments - Maturities of Fixed Income Securities (Details) - USD ($) $ in Millions	Oct. 24, 2020	Jul. 25, 2020
Amortized Cost
Within 1 year	$ 7,480
After 1 year through 5 years	6,897
After 5 years through 10 years	1,943
After 10 years	9
Mortgage-backed securities with no single maturity	2,494
Amortized Cost	18,823	$ 17,163
Fair Value
Within 1 year	7,490
After 1 year through 5 years	7,052
After 5 years through 10 years	2,109
After 10 years	10
Mortgage-backed securities with no single maturity	2,529
Total	$ 19,190	$ 17,610

Available-for-Sale Debt and E_7

Available-for-Sale Debt and Equity Investments - Additional Information (Details) $ in Millions	3 Months Ended
	Oct. 24, 2020USD ($)entity	Oct. 26, 2019USD ($)	Jul. 25, 2020USD ($)
Schedule of Investments [Line Items]
Net loss (gain) to non-marketable equity securities measured using the measurement alternative	$ (1)	$ 1
Number of variable interest entities required to be consolidated (entity) \| entity	0
Investments in privately held companies	$ 1,400		$ 1,300
Funding commitments	300
Variable Interest Entity, Not Primary Beneficiary
Schedule of Investments [Line Items]
Investments in privately held companies	700
Private equity funds \| Fair value measured at NAV per share
Schedule of Investments [Line Items]
Equity interests held in certain private equity funds	$ 700		$ 700

Fair Value - Assets and Liabili

Fair Value - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions	Oct. 24, 2020	Jul. 25, 2020
Assets:
Available-for-sale debt investments:	$ 19,190	$ 17,610
U.S. government securities
Assets:
Available-for-sale debt investments:	2,717	2,685
U.S. government agency securities
Assets:
Available-for-sale debt investments:	178	110
Corporate debt securities
Assets:
Available-for-sale debt investments:	11,537	11,877
Commercial paper
Assets:
Available-for-sale debt investments:	1,712	727
Certificates of deposit
Assets:
Available-for-sale debt investments:	517	176
Fair value, measurements, recurring
Assets:
Assets:	182	191
Total	28,130	27,833
Liabilities:
Derivative liabilities	22	10
Total	22	10
Fair value, measurements, recurring \| U.S. government securities
Assets:
Available-for-sale debt investments:	2,717	2,685
Fair value, measurements, recurring \| U.S. government agency securities
Assets:
Available-for-sale debt investments:	178	110
Fair value, measurements, recurring \| Corporate debt securities
Assets:
Available-for-sale debt investments:	11,537	11,877
Fair value, measurements, recurring \| U.S. agency mortgage-backed securities
Assets:
Available-for-sale debt investments:	2,529	2,035
Fair value, measurements, recurring \| Commercial paper
Assets:
Available-for-sale debt investments:	1,712	727
Fair value, measurements, recurring \| Certificates of deposit
Assets:
Available-for-sale debt investments:	517	176
Fair value, measurements, recurring \| Money market funds
Assets:
Cash equivalents:	8,634	10,024
Fair value, measurements, recurring \| Corporate debt securities
Assets:
Cash equivalents:	4	8
Fair value, measurements, recurring \| Commercial paper
Assets:
Cash equivalents:	120	0
Fair value, measurements, recurring \| Level 1
Assets:
Assets:	0	0
Total	8,634	10,024
Liabilities:
Derivative liabilities	0	0
Total	0	0
Fair value, measurements, recurring \| Level 1 \| U.S. government securities
Assets:
Available-for-sale debt investments:	0	0
Fair value, measurements, recurring \| Level 1 \| U.S. government agency securities
Assets:
Available-for-sale debt investments:	0	0
Fair value, measurements, recurring \| Level 1 \| Corporate debt securities
Assets:
Available-for-sale debt investments:	0	0
Fair value, measurements, recurring \| Level 1 \| U.S. agency mortgage-backed securities
Assets:
Available-for-sale debt investments:	0	0
Fair value, measurements, recurring \| Level 1 \| Commercial paper
Assets:
Available-for-sale debt investments:	0	0
Fair value, measurements, recurring \| Level 1 \| Certificates of deposit
Assets:
Available-for-sale debt investments:	0	0
Fair value, measurements, recurring \| Level 1 \| Money market funds
Assets:
Cash equivalents:	8,634	10,024
Fair value, measurements, recurring \| Level 1 \| Corporate debt securities
Assets:
Cash equivalents:	0	0
Fair value, measurements, recurring \| Level 1 \| Commercial paper
Assets:
Cash equivalents:	0	0
Fair value, measurements, recurring \| Level 2
Assets:
Assets:	179	190
Total	19,493	17,808
Liabilities:
Derivative liabilities	22	10
Total	22	10
Fair value, measurements, recurring \| Level 2 \| U.S. government securities
Assets:
Available-for-sale debt investments:	2,717	2,685
Fair value, measurements, recurring \| Level 2 \| U.S. government agency securities
Assets:
Available-for-sale debt investments:	178	110
Fair value, measurements, recurring \| Level 2 \| Corporate debt securities
Assets:
Available-for-sale debt investments:	11,537	11,877
Fair value, measurements, recurring \| Level 2 \| U.S. agency mortgage-backed securities
Assets:
Available-for-sale debt investments:	2,529	2,035
Fair value, measurements, recurring \| Level 2 \| Commercial paper
Assets:
Available-for-sale debt investments:	1,712	727
Fair value, measurements, recurring \| Level 2 \| Certificates of deposit
Assets:
Available-for-sale debt investments:	517	176
Fair value, measurements, recurring \| Level 2 \| Money market funds
Assets:
Cash equivalents:	0	0
Fair value, measurements, recurring \| Level 2 \| Corporate debt securities
Assets:
Cash equivalents:	4	8
Fair value, measurements, recurring \| Level 2 \| Commercial paper
Assets:
Cash equivalents:	120	0
Fair value, measurements, recurring \| Level 3
Assets:
Assets:	3	1
Total	3	1
Liabilities:
Derivative liabilities	0	0
Total	0	0
Fair value, measurements, recurring \| Level 3 \| U.S. government securities
Assets:
Available-for-sale debt investments:	0	0
Fair value, measurements, recurring \| Level 3 \| U.S. government agency securities
Assets:
Available-for-sale debt investments:	0	0
Fair value, measurements, recurring \| Level 3 \| Corporate debt securities
Assets:
Available-for-sale debt investments:	0	0
Fair value, measurements, recurring \| Level 3 \| U.S. agency mortgage-backed securities
Assets:
Available-for-sale debt investments:	0	0
Fair value, measurements, recurring \| Level 3 \| Commercial paper
Assets:
Available-for-sale debt investments:	0	0
Fair value, measurements, recurring \| Level 3 \| Certificates of deposit
Assets:
Available-for-sale debt investments:	0	0
Fair value, measurements, recurring \| Level 3 \| Money market funds
Assets:
Cash equivalents:	0	0
Fair value, measurements, recurring \| Level 3 \| Corporate debt securities
Assets:
Cash equivalents:	0	0
Fair value, measurements, recurring \| Level 3 \| Commercial paper
Assets:
Cash equivalents:	$ 0	$ 0

Fair Value - Additional Informa

Fair Value - Additional Information (Details) - USD ($) $ in Millions	Oct. 24, 2020	Jul. 25, 2020
Fair Value Measurements [Line Items]
Long term loan receivables and financed service contracts and others carrying value	$ 4,400	$ 4,500
Borrowings, carrying value	14,566	14,583
Level 2
Fair Value Measurements [Line Items]
Borrowings, fair value	$ 17,000	$ 17,400

Borrowings - Schedule of Short-

Borrowings - Schedule of Short-Term Debt (Details) - USD ($) $ in Millions	Oct. 24, 2020	Jul. 25, 2020
Short-term Debt [Line Items]
Amount	$ 5,002	$ 3,005
Current portion of long-term debt
Short-term Debt [Line Items]
Amount	$ 5,002	$ 3,005
Effective Rate	2.00%	2.07%

Borrowings - Additional Informa

Borrowings - Additional Information (Details) - USD ($)	May 15, 2020	May 14, 2020	Oct. 24, 2020	Jul. 25, 2020
Debt Instrument [Line Items]
Derivative, notional amount			$ 7,459,000,000	$ 7,395,000,000
Unsecured revolving credit facility
Debt Instrument [Line Items]
Current borrowing capacity	$ 2,750,000,000
Credit facility, term	364 days	5 years
Line of credit facility, amount outstanding			0
Additional credit facility upon agreement (up to)	$ 2,000,000,000
Unsecured revolving credit facility \| Federal Funds rate
Debt Instrument [Line Items]
Interest rate based on % above pre-defined variable rate	0.50%
Unsecured revolving credit facility \| LIBOR
Debt Instrument [Line Items]
Interest rate based on % above pre-defined variable rate	1.00%
Unsecured revolving credit facility \| Eurodollar
Debt Instrument [Line Items]
Interest rate based on % above pre-defined variable rate	0.25%
Interest rate swaps \| Derivatives designated as hedging instruments: \| Derivatives Designated as Fair Value Hedging Instruments
Debt Instrument [Line Items]
Derivative, notional amount			2,500,000,000
Commercial paper
Debt Instrument [Line Items]
Commercial paper, maximum borrowing limit (up to)			$ 10,000,000,000

Borrowings - Schedule of Long-T

Borrowings - Schedule of Long-Term Debt (Details) - USD ($) $ in Millions	Oct. 24, 2020	Jul. 25, 2020
Debt Instrument [Line Items]
Total	$ 14,500	$ 14,500
Unaccreted discount/issuance costs	(86)	(88)
Hedge accounting fair value adjustments	152	171
Total	14,566	14,583
Current portion of long-term debt	5,002	3,005
Long-term debt	$ 9,564	11,578
Fixed-Rate Notes, 2.20%, Due February 28, 2021
Debt Instrument [Line Items]
Interest rate, stated percentage	2.20%
Amount	$ 2,500	$ 2,500
Effective Rate	2.30%	2.30%
Fixed-Rate Notes, 2.90%, Due March 4, 2021
Debt Instrument [Line Items]
Interest rate, stated percentage	2.90%
Amount	$ 500	$ 500
Effective Rate	0.91%	0.94%
Fixed-Rate Notes, 1.85%, Due September 20, 2021
Debt Instrument [Line Items]
Interest rate, stated percentage	1.85%
Amount	$ 2,000	$ 2,000
Effective Rate	1.90%	1.90%
Fixed-Rate Notes, 3.00 %, Due June 15, 2022
Debt Instrument [Line Items]
Interest rate, stated percentage	3.00%
Amount	$ 500	$ 500
Effective Rate	1.19%	1.21%
Fixed-Rate Notes, 2.60%, Due February 28, 2023
Debt Instrument [Line Items]
Interest rate, stated percentage	2.60%
Amount	$ 500	$ 500
Effective Rate	2.68%	2.68%
Fixed-Rate Notes, 2.20%, Due September 20, 2023
Debt Instrument [Line Items]
Interest rate, stated percentage	2.20%
Amount	$ 750	$ 750
Effective Rate	2.27%	2.27%
Fixed-Rate Notes, 3.625%, Due March 4, 2024
Debt Instrument [Line Items]
Interest rate, stated percentage	3.625%
Amount	$ 1,000	$ 1,000
Effective Rate	1.03%	1.06%
Fixed-Rate Notes, 3.50%, Due June 15, 2025
Debt Instrument [Line Items]
Interest rate, stated percentage	3.50%
Amount	$ 500	$ 500
Effective Rate	1.35%	1.37%
Fixed-Rate Notes, 2.95%, Due February 28, 2026
Debt Instrument [Line Items]
Interest rate, stated percentage	2.95%
Amount	$ 750	$ 750
Effective Rate	3.01%	3.01%
Fixed-Rate Notes, 2.50%, Due September 20, 2026
Debt Instrument [Line Items]
Interest rate, stated percentage	2.50%
Amount	$ 1,500	$ 1,500
Effective Rate	2.55%	2.55%
Fixed-Rate Notes, 5.90%, Due February 15, 2039
Debt Instrument [Line Items]
Interest rate, stated percentage	5.90%
Amount	$ 2,000	$ 2,000
Effective Rate	6.11%	6.11%
Fixed-Rate Notes, 5.50%, Due January 15, 2040
Debt Instrument [Line Items]
Interest rate, stated percentage	5.50%
Amount	$ 2,000	$ 2,000
Effective Rate	5.67%	5.67%

Borrowings - Schedule of Future

Borrowings - Schedule of Future Principal Payments for Long-Term Debt (Details) - USD ($) $ in Millions	Oct. 24, 2020	Jul. 25, 2020
Debt Disclosure [Abstract]
2021 (remaining nine months)	$ 3,000
2022	2,500
2023	500
2024	1,750
2025	500
Thereafter	6,250
Total	$ 14,500	$ 14,500

Derivative Instruments - Deriva

Derivative Instruments - Derivatives Recorded at Fair Value (Details) - USD ($) $ in Millions	Oct. 24, 2020	Jul. 25, 2020
Derivative [Line Items]
DERIVATIVE ASSETS	$ 182	$ 191
DERIVATIVE LIABILITIES	22	10
Derivatives designated as hedging instruments:
Derivative [Line Items]
DERIVATIVE ASSETS	166	182
DERIVATIVE LIABILITIES	10	2
Derivatives designated as hedging instruments: \| Foreign currency derivatives \| Other current assets
Derivative [Line Items]
DERIVATIVE ASSETS	11	7
Derivatives designated as hedging instruments: \| Foreign currency derivatives \| Other current liabilities
Derivative [Line Items]
DERIVATIVE LIABILITIES	10	2
Derivatives designated as hedging instruments: \| Interest rate derivatives \| Other current assets
Derivative [Line Items]
DERIVATIVE ASSETS	4	6
Derivatives designated as hedging instruments: \| Interest rate derivatives \| Other current liabilities
Derivative [Line Items]
DERIVATIVE LIABILITIES	0	0
Derivatives designated as hedging instruments: \| Interest rate derivatives \| Other assets
Derivative [Line Items]
DERIVATIVE ASSETS	151	169
Derivatives designated as hedging instruments: \| Interest rate derivatives \| Other long-term liabilities
Derivative [Line Items]
DERIVATIVE LIABILITIES	0	0
Derivatives not designated as hedging instruments:
Derivative [Line Items]
DERIVATIVE ASSETS	16	9
DERIVATIVE LIABILITIES	12	8
Derivatives not designated as hedging instruments: \| Foreign currency derivatives \| Other current assets
Derivative [Line Items]
DERIVATIVE ASSETS	13	8
Derivatives not designated as hedging instruments: \| Foreign currency derivatives \| Other current liabilities
Derivative [Line Items]
DERIVATIVE LIABILITIES	11	8
Derivatives not designated as hedging instruments: \| Equity derivatives \| Other current assets
Derivative [Line Items]
DERIVATIVE ASSETS	0	0
Derivatives not designated as hedging instruments: \| Equity derivatives \| Other current liabilities
Derivative [Line Items]
DERIVATIVE LIABILITIES	1	0
Derivatives not designated as hedging instruments: \| Equity derivatives \| Other assets
Derivative [Line Items]
DERIVATIVE ASSETS	3	1
Derivatives not designated as hedging instruments: \| Equity derivatives \| Other long-term liabilities
Derivative [Line Items]
DERIVATIVE LIABILITIES	$ 0	$ 0

Derivative Instruments - Cumula

Derivative Instruments - Cumulative Basis Adjustments For Fair Value Hedges (Details) - Derivatives designated as hedging instruments: - USD ($) $ in Millions	Oct. 24, 2020	Jul. 25, 2020
Short-term debt
Derivative [Line Items]
CARRYING AMOUNT OF THE HEDGED ASSETS/(LIABILITIES)	$ (504)	$ (506)
CUMULATIVE AMOUNT OF FAIR VALUE HEDGING ADJUSTMENT INCLUDED IN THE CARRYING AMOUNT OF THE HEDGED ASSETS/LIABILITIES	(4)	(6)
Long-term debt
Derivative [Line Items]
CARRYING AMOUNT OF THE HEDGED ASSETS/(LIABILITIES)	(2,143)	(2,159)
CUMULATIVE AMOUNT OF FAIR VALUE HEDGING ADJUSTMENT INCLUDED IN THE CARRYING AMOUNT OF THE HEDGED ASSETS/LIABILITIES	$ (148)	$ (165)

Derivative Instruments - Consol

Derivative Instruments - Consolidated Statements of Operations of Derivative Instruments (Details) - Interest and other income (loss), net - Interest rate derivatives - USD ($) $ in Millions	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019
Derivative [Line Items]
Hedged items	$ 19	$ (21)
Derivatives designated as hedging instruments	(20)	22
Total	$ (1)	$ 1

Derivative Instruments - Effect

Derivative Instruments - Effect of Derivative Instruments Not Designated as Hedges on Consolidated Statement of Operations Summary (Details) - Derivatives not designated as hedging instruments: - USD ($) $ in Millions	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses)	$ 42	$ (5)
Foreign currency derivatives \| Other income (loss), net
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses)	14	(7)
Total return swaps—deferred compensation \| Operating expenses and other
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses)	23	0
Equity derivatives \| Other income (loss), net
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses)	$ 5	$ 2

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Notional Amounts of Derivatives Outstanding (Details) - USD ($) $ in Millions	Oct. 24, 2020	Jul. 25, 2020
Derivative [Line Items]
Derivatives	$ 7,459	$ 7,395
Foreign currency derivatives
Derivative [Line Items]
Derivatives	4,338	4,315
Interest rate derivatives
Derivative [Line Items]
Derivatives	2,500	2,500
Total return swaps—deferred compensation
Derivative [Line Items]
Derivatives	$ 621	$ 580

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 24, 2020	Jul. 25, 2020
Derivative [Line Items]
Right of set-off, reduction in derivative liabilities	$ 20	$ 10
Right of set-off, reduction in derivative assets	20	10
Cash collateral, assets	157	173
Net derivative asset	$ 3	$ 8
Cash flow hedges
Derivative [Line Items]
Derivative average remaining maturity	24 months
Net investment hedges
Derivative [Line Items]
Derivative average remaining maturity	6 months

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions

Oct. 05, 2020USD ($)patent

Apr. 30, 2020patent

Apr. 01, 2020USD ($)

Jun. 12, 2019patent

Feb. 13, 2018patent

May 25, 2017USD ($)

Mar. 03, 2017USD ($)patent

Jan. 06, 2017patent

May 12, 2016USD ($)

Sep. 04, 2013patent

Oct. 24, 2020USD ($)

Oct. 26, 2019USD ($)

Oct. 24, 2020USD ($)

Jul. 25, 2020USD ($)

Contingency [Line Items]

Provision for purchase commitment liability

$ 32

$ 29

Future compensation expense & contingent consideration (up to)

495

$ 495

Commitments and contingencies

Volume of channel partner financing

6,100

7,600

Balance of the channel partner financing subject to guarantees

1,300

1,100

Financing provided by third parties for leases and loans on which the Company has provided guarantees

$ 5

SRI International | Pending Litigation

Contingency [Line Items]

Damages awarded, value

$ 8

$ 57

$ 23.7

Number of allegedly infringed patents (patent) | patent

Percentage of royalty awarded

3.50%

Payment

28.1

Centripetal | Pending Litigation

Contingency [Line Items]

Damages awarded, value

$ 1,900

Damages awarded, initial value

755.8

Damages awarded, enhanced damages for willful infringement

1,100

Damages awarded, pre-judgement interest

$ 13.7

Royalty awarded against revenue, first three-year term, percentage

10.00%

Royalty awarded against revenue, second three-year term, percentage

5.00%

Patent Infringement | Sprint Communications Company, L.P. vs. Time Warner Cable, Inc. | Pending Litigation

Contingency [Line Items]

Number of patents found infringed (patent) | patent

Damages awarded, value

$ 139.8

Pre and Post judgment interest awarded

$ 10

Patent Infringement | Centripetal | Pending Litigation

Contingency [Line Items]

Number of patents found infringed (patent) | patent

Number of allegedly infringed patents (patent) | patent

Number of allegedly infringed patents, petitioned (patent) | patent

Number of allegedly infringed patents, unpatentable (patent) | patent

Patent Infringement | Finjan | Pending Litigation

Contingency [Line Items]

Number of allegedly infringed patents (patent) | patent

Number of allegedly infringed patents, expired (patent) | patent

Patent Infringement | Ramot | Pending Litigation

Contingency [Line Items]

Number of allegedly infringed patents (patent) | patent

Patent Infringement, IPR Proceedings | Centripetal | Pending Litigation

Contingency [Line Items]

Number of allegedly infringed patents (patent) | patent

Patent Infringement, Patent Trial and Appeal Board | Centripetal | Pending Litigation

Contingency [Line Items]

Number of allegedly infringed patents (patent) | patent

Patent Infringement, Not Subject to IPR Proceedings | Centripetal | Pending Litigation

Contingency [Line Items]

Number of allegedly infringed patents (patent) | patent

Patent Infringement, Not Subject To IPR Proceedings and IPR Declined | Centripetal | Pending Litigation

Contingency [Line Items]

Number of allegedly infringed patents (patent) | patent

Patent Infringement, European Patents | Centripetal | Pending Litigation

Contingency [Line Items]

Number of allegedly infringed patents (patent) | patent

Minimum

Contingency [Line Items]

Warranty period for products

90 days

Channel partners revolving short-term financing payment term

60 days

Minimum | Centripetal | Pending Litigation

Contingency [Line Items]

Annual royalty awarded against revenue, first three-year term

$ 167.7

Annual royalty awarded against revenue, second three-year term

83.9

Maximum

Contingency [Line Items]

Warranty period for products

5 years

Channel partners revolving short-term financing payment term

90 days

End user lease and loan term

3 years

Maximum | Centripetal | Pending Litigation

Contingency [Line Items]

Annual royalty awarded against revenue, first three-year term

300.1

Annual royalty awarded against revenue, second three-year term

$ 150

Investments in privately held companies (impaired)

Contingency [Line Items]

Commitments and contingencies

$ 300

300

Tax Year 2003 - 2007 | Brazilian tax authority

Contingency [Line Items]

Income tax examination, tax

100

Income tax examination, interest

700

Income tax examination, penalties

$ 400

COVID-19

Contingency [Line Items]

Increase in certain channel partners revolving short-term financing payment term

30 days

Inventories

Contingency [Line Items]

Liability for purchase commitments

$ 157

$ 141

Inventories

Contingency [Line Items]

Purchase commitment

$ 4,200

$ 4,400

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Other Commitments (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019
Acquisition
Contingency [Line Items]
Compensation expense related to acquisitions	$ 57	$ 61

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Product Warranty Liability (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at beginning of period	$ 331	$ 342
Provisions for warranties issued	121	140
Adjustments for pre-existing warranties	1	(3)
Settlements	(122)	(149)
Balance at end of period	$ 331	$ 330

Commitments and Contingencies_4

Commitments and Contingencies - Schedule of Financing Guarantees Outstanding (Details) - USD ($) $ in Millions	Oct. 24, 2020	Jul. 25, 2020
Loss Contingencies [Line Items]
Maximum potential future payments relating to financing guarantees:	$ 201	$ 207
Deferred revenue associated with financing guarantees:	(33)	(28)
Total	168	179
Channel partner
Loss Contingencies [Line Items]
Maximum potential future payments relating to financing guarantees:	193	198
Deferred revenue associated with financing guarantees:	(25)	(19)
End user
Loss Contingencies [Line Items]
Maximum potential future payments relating to financing guarantees:	8	9
Deferred revenue associated with financing guarantees:	$ (8)	$ (9)

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Details) - USD ($)	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019	Jul. 25, 2020
Class of Stock [Line Items]
Cash dividends paid per common share (in dollars per share)	$ 0.36	$ 0.35
Payments of dividends	$ 1,520,000,000	$ 1,486,000,000
Remaining authorized repurchase amount	10,000,000,000
Stock repurchase program
Class of Stock [Line Items]
Stock repurchases pending settlement	$ 0		$ 0

Shareholders' Equity - Stock Re

Shareholders' Equity - Stock Repurchase Program (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Oct. 24, 2020	Jul. 25, 2020	Apr. 25, 2020	Jan. 25, 2020	Oct. 26, 2019
Stockholders' Equity Note [Abstract]
Shares (in shares)	20	0	25	18	16
Weighted-Average Price per Share (in dollars per share)	$ 40.44	$ 0	$ 39.71	$ 46.71	$ 48.91
Amount	$ 800	$ 0	$ 981	$ 870	$ 768

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Details) $ in Billions	3 Months Ended
	Oct. 24, 2020USD ($)periodstock_incentive_planshares	Oct. 26, 2019shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock incentive plans (stock incentive plan) \| stock_incentive_plan	1
Total compensation cost related to unvested share-based awards \| $	$ 3.6
Expected period of recognition of compensation cost	2 years 10 months 24 days
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance (in shares)	721,400,000
Consecutive offering period	24 months
Number of purchase periods \| period	4
Purchase period	6 months
ESPP discount percentage from market price, beginning of purchase period	15.00%
Shares issued under employee purchase plan, shares (in shares)	0	0
Number of shares reserved for issuance (in shares)	141,000,000
2005 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance (in shares)	694,000,000
2005 Plan \| Stock awards subsequent to November 12, 2009
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance (in shares)	175,000,000
Reduction in shares available for issuance pursuant to November 12, 2009 amendment (in shares)	1.5

Employee Benefit Plans - Summar

Employee Benefit Plans - Summary of Share-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 438	$ 398
Income tax benefit for share-based compensation	81	131
Share-based compensation expense in cost of sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	65	57
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	167	146
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	134	127
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	61	60
Restructuring and other charges
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	11	8
Share-based compensation expense in operating expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	373	341
Product \| Share-based compensation expense in cost of sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	24	23
Services \| Share-based compensation expense in cost of sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 41	$ 34

Employee Benefit Plans - Summ_2

Employee Benefit Plans - Summary of Restricted Stock and Stock Unit Activity (Details) - Restricted Stock/Stock Units - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended	12 Months Ended
	Oct. 24, 2020	Jul. 25, 2020
Restricted Stock/ Stock Units
Beginning balance (in shares)	96	100
Granted (in shares)	10	49
Vested (in shares)	(6)	(44)
Canceled/forfeited/other (in shares)	(4)	(9)
Ending balance (in shares)	96	96
Weighted-Average Grant Date Fair Value per Share
Beginning balance (in dollars per share)	$ 42.03	$ 38.66
Granted (in dollars per share)	37.16	42.61
Vested (in dollars per share)	39.95	35.20
Canceled/forfeited/other (in dollars per share)	39.17	40.45
Ending balance (in dollars per share)	$ 41.77	$ 42.03
Aggregate Fair Value
Vested	$ 264	$ 2,045

Comprehensive Income (Loss) - A

Comprehensive Income (Loss) - AOCI Components (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 37,920	$ 33,571
Other comprehensive income (loss) before reclassifications	67	(6)
(Gains) losses reclassified out of AOCI	(17)	(9)
Tax benefit (expense)	22	(8)
Ending balance	38,157	34,423
Net Unrealized Gains (Losses) on Available-for-Sale Investments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	315	0
Other comprehensive income (loss) before reclassifications	(41)	87
(Gains) losses reclassified out of AOCI	(15)	(10)
Tax benefit (expense)	22	(9)
Ending balance	281	68
Net Unrealized Gains (Losses) Cash Flow Hedging Instruments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(6)	(14)
Other comprehensive income (loss) before reclassifications	(2)	(1)
(Gains) losses reclassified out of AOCI	(2)	0
Tax benefit (expense)	1	1
Ending balance	(9)	(14)
Cumulative Translation Adjustment and Actuarial Gains (Losses)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(828)	(778)
Other comprehensive income (loss) before reclassifications	110	(92)
(Gains) losses reclassified out of AOCI	0	1
Tax benefit (expense)	(1)	0
Ending balance	(719)	(869)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(519)	(792)
Ending balance	$ (447)	$ (815)

Income Taxes - Income Before Pr

Income Taxes - Income Before Provision for Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019
Income Tax Disclosure [Abstract]
Income before provision for income taxes	$ 2,681	$ 3,686
Provision for income taxes	$ 507	$ 760
Effective tax rate	18.90%	20.60%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) $ in Billions	Oct. 24, 2020USD ($)
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 2.5
Unrecognized tax benefits that would impact effective tax rate	$ 2.2

Segment Information and Major_3

Segment Information and Major Customers - Additional Information (Details) $ in Millions	3 Months Ended
	Oct. 24, 2020USD ($)segment	Oct. 26, 2019USD ($)
Segment Reporting Information [Line Items]
Number of geographic segments \| segment	3
Revenue	$ 11,929	$ 13,159
United States
Segment Reporting Information [Line Items]
Revenue	$ 6,500	$ 7,100

Segment Information and Major_4

Segment Information and Major Customers - Summary of Reportable Segments (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019
Segment Reporting Information [Line Items]
Revenue	$ 11,929	$ 13,159
Gross margin	7,581	8,464
Operating segments
Segment Reporting Information [Line Items]
Gross margin	7,853	8,676
Operating segments \| Americas
Segment Reporting Information [Line Items]
Revenue	7,198	7,977
Gross margin	4,847	5,316
Operating segments \| EMEA
Segment Reporting Information [Line Items]
Revenue	2,964	3,283
Gross margin	1,894	2,166
Operating segments \| APJC
Segment Reporting Information [Line Items]
Revenue	1,767	1,899
Gross margin	1,113	1,194
Unallocated corporate items
Segment Reporting Information [Line Items]
Gross margin	$ (272)	$ (212)

Segment Information and Major_5

Segment Information and Major Customers - Summary of Net Revenue for Groups of Similar Products and Services (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 11,929	$ 13,159
Total Product
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	8,587	9,878
Infrastructure Platforms
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	6,341	7,553
Applications
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	1,380	1,499
Security
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	861	816
Other Products
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	5	11
Services
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 3,342	$ 3,281

Net Income per Share - Calculat

Net Income per Share - Calculation of Basic and Diluted Net Income per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Oct. 24, 2020	Oct. 26, 2019
Earnings Per Share [Abstract]
Net income	$ 2,174	$ 2,926
Weighted-average shares—basic (in shares)	4,230	4,246
Effect of dilutive potential common shares (in shares)	14	27
Weighted-average shares—diluted (in shares)	4,244	4,273
Net income per share—basic (in dollars per share)	$ 0.51	$ 0.69
Net income per share—diluted (in dollars per share)	$ 0.51	$ 0.68
Antidilutive employee share-based awards, excluded (in shares)	35	11