Cisco Systems (CSCO) 10-Q20 Feb 242024 Q2 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	6 Months Ended
Cover Page - shares	Jan. 27, 2024	Feb. 15, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jan. 27, 2024
Document Transition Report	false
Entity File Number	001-39940
Entity Registrant Name	CISCO SYSTEMS, INC.
Entity Incorporation, State or Country Code	DE
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)		4,049,187,080
Amendment Flag	false
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Entity Central Index Key	0000858877
Current Fiscal Year End Date	--07-27

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Current assets:
Cash and cash equivalents	$ 13,715	$ 10,123
Investments	11,956	16,023
Accounts receivable, net of allowance of $79 at January 27, 2024 and $85 at July 29, 2023	4,884	5,854
Inventories	3,209	3,644
Financing receivables, net	3,476	3,352
Other current assets	4,887	4,352
Total current assets	42,127	43,348
Property and equipment, net	2,005	2,085
Financing receivables, net	3,364	3,483
Goodwill	39,087	38,535
Purchased intangible assets, net	1,678	1,818
Deferred tax assets	7,338	6,576
Other assets	5,575	6,007
TOTAL ASSETS	101,174	101,852
Current liabilities:
Short-term debt	4,936	1,733
Accounts payable	1,848	2,313
Income taxes payable	1,876	4,235
Accrued compensation	3,216	3,984
Deferred revenue	14,011	13,908
Other current liabilities	4,964	5,136
Total current liabilities	30,851	31,309
Long-term debt	6,669	6,658
Income taxes payable	3,390	5,756
Deferred revenue	11,760	11,642
Other long-term liabilities	2,253	2,134
Total liabilities	54,923	57,499
Commitments and contingencies (Note 14)
Cisco stockholders’ equity:
Preferred stock, $0.001 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; 4,050 and 4,066 shares issued and outstanding at January 27, 2024 and July 29, 2023, respectively	45,002	44,289
Retained earnings	2,761	1,639
Accumulated other comprehensive loss	(1,512)	(1,575)
Total equity	46,251	44,353
TOTAL LIABILITIES AND EQUITY	$ 101,174	$ 101,852

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Statement of Financial Position [Abstract]
Accounts receivable, allowance	$ 79	$ 85
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
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)	4,050,000,000	4,066,000,000
Common stock, shares outstanding (in shares)	4,050,000,000	4,066,000,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jan. 27, 2024	Jan. 28, 2023	Jan. 27, 2024	Jan. 28, 2023
REVENUE:
Total revenue	$ 12,791	$ 13,592	$ 27,459	$ 27,224
COST OF SALES:
Total cost of sales	4,574	5,165	9,685	10,451
GROSS MARGIN	8,217	8,427	17,774	16,773
OPERATING EXPENSES:
Research and development	1,943	1,855	3,856	3,636
Sales and marketing	2,458	2,384	4,964	4,775
General and administrative	642	582	1,314	1,147
Amortization of purchased intangible assets	66	71	133	142
Restructuring and other charges	12	243	135	241
Total operating expenses	5,121	5,135	10,402	9,941
OPERATING INCOME	3,096	3,292	7,372	6,832
Interest income	324	219	684	388
Interest expense	(120)	(107)	(231)	(207)
Other income (loss), net	(139)	11	(222)	(123)
Interest and other income (loss), net	65	123	231	58
INCOME BEFORE PROVISION FOR INCOME TAXES	3,161	3,415	7,603	6,890
Provision for income taxes	527	642	1,331	1,447
NET INCOME	$ 2,634	$ 2,773	$ 6,272	$ 5,443
Net income per share:
Basic (in dollars per share)	$ 0.65	$ 0.68	$ 1.55	$ 1.33
Diluted (in dollars per share)	$ 0.65	$ 0.67	$ 1.54	$ 1.32
Shares used in per-share calculation:
Basic (in shares)	4,055	4,103	4,056	4,105
Diluted (in shares)	4,073	4,116	4,079	4,115
Product
REVENUE:
Total revenue	$ 9,232	$ 10,155	$ 20,371	$ 20,400
COST OF SALES:
Total cost of sales	3,443	4,038	7,400	8,217
Service
REVENUE:
Total revenue	3,559	3,437	7,088	6,824
COST OF SALES:
Total cost of sales	$ 1,131	$ 1,127	$ 2,285	$ 2,234

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 27, 2024	Jan. 28, 2023	Jan. 27, 2024	Jan. 28, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 2,634	$ 2,773	$ 6,272	$ 5,443
Available-for-sale investments:
Change in net unrealized gains and losses, net of tax benefit (expense) of $(73) and $(33) for the second quarter and first six months of fiscal 2024, respectively, and $(66) and $12 for the corresponding periods of fiscal 2023, respectively	229	187	99	(64)
Net (gains) losses reclassified into earnings, net of tax (benefit) expense of $(5) and $(9) for the second quarter and first six months of fiscal 2024, respectively, and $0 and $(1) for the corresponding periods of fiscal 2023, respectively	18	3	34	8
Total- Available-for-sale investments	247	190	133	(56)
Cash flow hedging instruments:
Change in unrealized gains and losses, net of tax benefit (expense) of $0 and $(9) for the second quarter and first six months of fiscal 2024, respectively, and $11 and $3 for the corresponding periods of fiscal 2023, respectively	1	(33)	30	(9)
Net (gains) losses reclassified into earnings, net of tax (benefit) expense of $2 and $5 for the second quarter and first six months of fiscal 2024, respectively, and $4 and $9 for the corresponding periods of fiscal 2023, respectively	(9)	(14)	(18)	(28)
Total- Cash flow hedging instruments	(8)	(47)	12	(37)
Net change in cumulative translation adjustment and actuarial gains and losses net of tax benefit (expense) of $0 and $1 for the second quarter and first six months of fiscal 2024, respectively, and $2 and $24 for the corresponding periods of fiscal 2023, respectively	274	389	(82)	129
Other comprehensive income	513	532	63	36
Comprehensive income	$ 3,147	$ 3,305	$ 6,335	$ 5,479

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 27, 2024	Jan. 28, 2023	Jan. 27, 2024	Jan. 28, 2023
Statement of Comprehensive Income [Abstract]
Change in net unrealized gains and losses, tax benefit (expense), available-for-sale investments	$ (73)	$ (66)	$ (33)	$ 12
Net (gains) losses reclassified into earnings, tax (benefit) expense, available-for-sale investments	(5)	0	(9)	(1)
Change in unrealized gains and losses, tax benefit (expense), cash flow hedging instruments	0	11	(9)	3
Net (gains) losses reclassified into earnings, tax (benefit) expense, cash flow hedging instruments	2	4	5	9
Net change in cumulative translation adjustment and actuarial gains and losses, net of tax benefit (expense)	$ 0	$ 2	$ 1	$ 24

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jan. 27, 2024	Jan. 28, 2023
Cash flows from operating activities:
Net income	$ 6,272	$ 5,443
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization, and other	823	853
Share-based compensation expense	1,463	1,097
Provision (benefit) for receivables	12	6
Deferred income taxes	(816)	(845)
(Gains) losses on divestitures, investments and other, net	205	109
Change in operating assets and liabilities, net of effects of acquisitions and divestitures:
Accounts receivable	941	1,393
Inventories	442	(569)
Financing receivables	(33)	834
Other assets	(403)	(210)
Accounts payable	(476)	42
Income taxes, net	(4,656)	118
Accrued compensation	(763)	(146)
Deferred revenue	293	633
Other liabilities	(125)	(57)
Net cash provided by operating activities	3,179	8,701
Cash flows from investing activities:
Purchases of investments	(2,253)	(3,797)
Proceeds from sales of investments	2,484	587
Proceeds from maturities of investments	4,044	2,316
Acquisitions, net of cash and cash equivalents acquired	(878)	(3)
Purchases of investments in privately held companies	(50)	(70)
Return of investments in privately held companies	123	39
Acquisition of property and equipment	(304)	(346)
Other	(1)	(19)
Net cash provided by (used in) investing activities	3,165	(1,293)
Cash flows from financing activities:
Issuances of common stock	349	316
Repurchases of common stock—repurchase program	(2,504)	(1,760)
Shares repurchased for tax withholdings on vesting of restricted stock units	(581)	(310)
Short-term borrowings, original maturities of 90 days or less, net	1,398	(602)
Issuances of debt	2,537	0
Repayments of debt	(750)	0
Dividends paid	(3,163)	(3,120)
Other	(7)	(5)
Net cash used in financing activities	(2,721)	(5,481)
Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents	(32)	3
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents	3,591	1,930
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of period	11,627	8,579
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period	15,218	10,509
Supplemental cash flow information:
Cash paid for interest	203	178
Cash paid for income taxes, net	$ 6,804	$ 2,172

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) shares in Millions, $ in Millions	Total	Shares of Common Stock	Common Stock and Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Jul. 30, 2022		4,110
Beginning balance at Jul. 30, 2022	$ 39,773		$ 42,714	$ (1,319)	$ (1,622)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of common stock (in shares)	(12)
Ending balance (in shares) at Oct. 29, 2022		4,103
Ending balance at Oct. 29, 2022	$ 40,272		42,984	(594)	(2,118)
Beginning balance (in shares) at Jul. 30, 2022		4,110
Beginning balance at Jul. 30, 2022	39,773		42,714	(1,319)	(1,622)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	5,443			5,443
Other comprehensive income (loss)	36				36
Issuance of common stock (in shares)		30
Issuance of common stock	316		316
Repurchase of common stock (in shares)		(38)
Repurchase of common stock	(1,758)		(394)	(1,364)
Shares repurchased for tax withholdings on vesting of restricted stock units and other (in shares)		(7)
Shares repurchased for tax withholdings on vesting of restricted stock units and other	(310)		(310)
Cash dividends declared	(3,120)			(3,120)
Share-based compensation	1,097		1,097
Other	(3)		1	(4)
Ending balance (in shares) at Jan. 28, 2023		4,095
Ending balance at Jan. 28, 2023	41,474		43,424	(364)	(1,586)
Beginning balance (in shares) at Oct. 29, 2022		4,103
Beginning balance at Oct. 29, 2022	40,272		42,984	(594)	(2,118)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,773			2,773
Other comprehensive income (loss)	532				532
Issuance of common stock (in shares)		23
Issuance of common stock	$ 316		316
Repurchase of common stock (in shares)	(26)	(26)
Repurchase of common stock	$ (1,256)		(276)	(980)
Shares repurchased for tax withholdings on vesting of restricted stock units and other (in shares)		(5)
Shares repurchased for tax withholdings on vesting of restricted stock units and other	(202)		(202)
Cash dividends declared	(1,560)			(1,560)
Share-based compensation	601		601
Other	(2)		1	(3)
Ending balance (in shares) at Jan. 28, 2023		4,095
Ending balance at Jan. 28, 2023	41,474		43,424	(364)	(1,586)
Beginning balance (in shares) at Jul. 29, 2023		4,066
Beginning balance at Jul. 29, 2023	$ 44,353		44,289	1,639	(1,575)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of common stock (in shares)	(23)
Ending balance (in shares) at Oct. 28, 2023		4,049
Ending balance at Oct. 28, 2023	$ 45,210		44,546	2,689	(2,025)
Beginning balance (in shares) at Jul. 29, 2023		4,066
Beginning balance at Jul. 29, 2023	44,353		44,289	1,639	(1,575)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	6,272			6,272
Other comprehensive income (loss)	63				63
Issuance of common stock (in shares)		43
Issuance of common stock	349		349
Repurchase of common stock (in shares)		(48)
Repurchase of common stock	(2,506)		(528)	(1,978)
Shares repurchased for tax withholdings on vesting of restricted stock units and other (in shares)		(11)
Shares repurchased for tax withholdings on vesting of restricted stock units and other	(581)		(581)
Cash dividends declared	(3,163)			(3,163)
Share-based compensation	1,463		1,463
Other	1		10	(9)
Ending balance (in shares) at Jan. 27, 2024		4,050
Ending balance at Jan. 27, 2024	46,251		45,002	2,761	(1,512)
Beginning balance (in shares) at Oct. 28, 2023		4,049
Beginning balance at Oct. 28, 2023	45,210		44,546	2,689	(2,025)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,634			2,634
Other comprehensive income (loss)	513				513
Issuance of common stock (in shares)		34
Issuance of common stock	$ 349		349
Repurchase of common stock (in shares)	(25)	(25)
Repurchase of common stock	$ (1,254)		(279)	(975)
Shares repurchased for tax withholdings on vesting of restricted stock units and other (in shares)		(8)
Shares repurchased for tax withholdings on vesting of restricted stock units and other	(425)		(425)
Cash dividends declared	(1,583)			(1,583)
Share-based compensation	802		802
Other	5		9	(4)
Ending balance (in shares) at Jan. 27, 2024		4,050
Ending balance at Jan. 27, 2024	$ 46,251		$ 45,002	$ 2,761	$ (1,512)

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jan. 27, 2024	Jan. 28, 2023	Jan. 27, 2024	Jan. 28, 2023
Statement of Stockholders' Equity [Abstract]
Cash dividends declared (in dollars per share)	$ 0.39	$ 0.38	$ 0.78	$ 0.76

Organization and Basis of Prese

Organization and Basis of Presentation	6 Months Ended
Organization and Basis of Presentation	Jan. 27, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and 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 2024 and fiscal 2023 are each 52-week fiscal years. 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 January 27, 2024 and for the second quarter and first six months of fiscal 2024 and 2023, 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 29, 2023 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 29, 2023. In the opinion of management, all normal recurring adjustments necessary to state fairly the consolidated balance sheet as of January 27, 2024, the results of operations, the statements of comprehensive income and the statements of equity for the second quarter and first six months of fiscal 2024 and 2023, and the statements of cash flows for the first six months of fiscal 2024 and 2023, as applicable, have been made. The results of operations for the second quarter and first six months of fiscal 2024 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 investments consolidated under the voting interest model. The noncontrolling interests attributed to these investments are not presented as a separate component in the equity section of the Consolidated Balance Sheets as these amounts are not material for any of the fiscal periods presented. 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	6 Months Ended
Recent Accounting Pronouncements	Jan. 27, 2024
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements (a) Recent Accounting Standards or Updates Not Yet Effective Segment Reporting In November 2023, the Financial Accounting Standards Board (FASB) issued an accounting standard update that expands the disclosure requirements for reportable segments, primarily through enhanced disclosures around significant segment expenses. The accounting standard update will be effective for our fiscal 2025 Form 10-K on a retrospective basis, and early adoption is permitted. We are currently evaluating the impact of this accounting standard update on our segment disclosures. Improvements on Income Tax Disclosures In December 2023, the FASB issued an accounting standard update expanding the requirements for disclosure of disaggregated information about the effective tax rate reconciliation and income taxes paid. The accounting standard update will be effective for our fiscal 2026 Form 10-K. We are currently evaluating the impact of this accounting standard update on our income tax disclosures.

Revenue

Revenue	6 Months Ended
Revenue	Jan. 27, 2024
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, electronic delivery (or when the software is available for download by the customer), 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 January 27, 2024 and July 29, 2023 was $36 million and $39 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 assess relevant contractual terms in our customer contracts to determine the transaction price. We apply judgment in identifying contractual terms and 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. Effective in the first quarter of fiscal 2024, we began reporting our product and service revenue in the following categories: Networking, Security, Collaboration, Observability, and Services and conformed our product revenue for prior periods to the current period presentation. The following table presents this disaggregation of revenue (in millions): Three Months Ended Six Months Ended January 27, January 28, January 27, January 28, Product revenue: Networking $ 7,081 $ 8,092 $ 15,904 $ 16,123 Security 973 943 1,984 1,914 Collaboration 989 958 2,106 2,044 Observability 188 162 378 319 Total Product 9,232 10,155 20,371 20,400 Services 3,559 3,437 7,088 6,824 Total $ 12,791 $ 13,592 27,459 27,224 Amounts may not sum due to rounding. Networking consists of our core networking technologies of switching, routing, wireless, 5G, silicon, optics solutions and compute products. These technologies consist of both hardware and software offerings, including software licenses and SaaS. 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. Security consists of our Cloud and Application Security, Industrial Security, Network Security, and User and Device Security offerings. 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. Collaboration consists of our Meetings, Collaboration Devices, Calling, Contact Center and Communication Platform as a Service (CPaaS) offerings. These 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. Observability consists of our full stack observability offerings. These products consist primarily of software offerings, including software licenses and SaaS. Our 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. 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 Accounts receivable, net was $4.9 billion as of January 27, 2024 compared to $5.9 billion as of July 29, 2023, as reported on the Consolidated Balance Sheets. The allowances for credit loss for our accounts receivable are summarized as follows (in millions): Three Months Ended Six Months Ended January 27, 2024 January 28, 2023 January 27, 2024 January 28, 2023 Allowance for credit loss at beginning of period $ 82 $ 88 $ 85 $ 83 Provisions (benefits) 9 3 11 14 Recoveries (write-offs), net (12) (5) (17) (11) Allowance for credit loss at end of period $ 79 $ 86 $ 79 $ 86 Contract Assets and Liabilities Gross contract assets by our internal risk ratings are summarized as follows (in millions): January 27, July 29, 1 to 4 $ 693 $ 672 5 to 6 1,042 954 7 and Higher 62 60 Total $ 1,797 $ 1,686 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 $1.8 billion as of January 27, 2024 and $1.6 billion as of July 29, 2023, and were included in other current assets and other assets. Contract liabilities consist of deferred revenue. Deferred revenue was $25.8 billion as of January 27, 2024 compared to $25.6 billion as of July 29, 2023. We recognized approximately $3.8 billion and $8.4 billion of revenue during the second quarter and first six months of fiscal 2024 that was included in the deferred revenue balance at July 29, 2023. (c) Capitalized Contract Acquisition Costs

Acquisitions and Divestitures

Acquisitions and Divestitures	6 Months Ended
Acquisitions and Divestitures	Jan. 27, 2024
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures A summary of the allocation of the total purchase consideration of our completed acquisitions during the first six months of fiscal 2024 is presented as follows (in millions): Purchase Consideration Net Tangible Assets Acquired (Liabilities Assumed) Purchased Intangible Assets Goodwill Total acquisitions $ 896 $ (50) $ 354 $ 592 The total purchase consideration related to our acquisitions completed during the first six months of fiscal 2024 consisted primarily of cash consideration. The total cash and cash equivalents acquired from these acquisitions was approximately $17 million. Total transaction costs related to acquisition and divestiture activities were $51 million and $3 million for the first six months of fiscal 2024 and 2023, respectively. These transaction costs were expensed as incurred in general and administrative expenses (“G&A”) in the Consolidated Statements of Operations. The purchase price allocation for acquisitions completed during recent periods is preliminary and subject to revision as additional information about fair value of assets and liabilities becomes available. Additional information that existed as of the acquisition date but at that time was unknown to us may become known during the remainder of the measurement period, a period not to exceed 12 months from the acquisition date. The goodwill generated from acquisitions completed during the first six months of fiscal 2024 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 six months of fiscal 2024 have not been presented because the effects of the acquisitions were not material to our financial results. Intent to Acquire Splunk On September 21, 2023, we announced our intent to acquire Splunk Inc. (“Splunk”), a public cybersecurity and observability company. Under the terms of the agreement, we have agreed to pay $157 per share in cash, representing approximately $28 billion in equity value. The acquisition is expected to close late in the first quarter or early in the second quarter of calendar year 2024, subject to regulatory approval and other customary closing conditions. We anticipate this transaction will be financed with a combination of cash and debt.

Goodwill and Purchased Intangib

Goodwill and Purchased Intangible Assets	6 Months Ended
Goodwill and Purchased Intangible Assets	Jan. 27, 2024
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 January 27, 2024 and during the first six months of fiscal 2024 (in millions): Balance at July 29, 2023 Acquisitions Foreign Currency Translation and Other Balance at January 27, 2024 Americas $ 24,035 $ 367 $ (25) $ 24,377 EMEA 9,118 121 (10) 9,229 APJC 5,382 104 (5) 5,481 Total $ 38,535 $ 592 $ (40) $ 39,087 (b) Purchased Intangible Assets The following table presents details of our intangible assets acquired through acquisitions completed during the first six months of fiscal 2024 (in millions, except years): FINITE LIVES INDEFINITE LIVES TOTAL TECHNOLOGY CUSTOMER OTHER IPR&D Weighted- Amount Weighted- Amount Weighted- Amount Amount Amount Total acquisitions 4.8 $ 280 4.8 $ 58 1.0 $ 2 $ 14 $ 354 The following tables present details of our purchased intangible assets (in millions): January 27, 2024 Gross Accumulated Amortization Net Purchased intangible assets with finite lives: Technology $ 3,020 $ (1,791) $ 1,229 Customer relationships 963 (709) 254 Other 42 (27) 15 Total purchased intangible assets with finite lives 4,025 (2,527) 1,498 In-process research and development, with indefinite lives 180 — 180 Total $ 4,205 $ (2,527) $ 1,678 July 29, 2023 Gross Accumulated Amortization Net Purchased intangible assets with finite lives: Technology $ 2,998 $ (1,691) $ 1,307 Customer relationships 1,228 (905) 323 Other 40 (22) 18 Total purchased intangible assets with finite lives 4,266 (2,618) 1,648 In-process research and development, with indefinite lives 170 — 170 Total $ 4,436 $ (2,618) $ 1,818 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 Six Months Ended January 27, 2024 January 28, 2023 January 27, 2024 January 28, 2023 Amortization of purchased intangible assets: Cost of sales $ 180 $ 158 $ 366 $ 316 Operating expenses 66 71 133 142 Total $ 246 $ 229 $ 499 $ 458 The estimated future amortization expense of purchased intangible assets with finite lives as of January 27, 2024 is as follows (in millions): Fiscal Year Amount 2024 (remaining six months) $ 440 2025 $ 576 2026 $ 228 2027 $ 143 2028 $ 100 Thereafter $ 11

Restructuring and Other Charges

Restructuring and Other Charges	6 Months Ended
Restructuring and Other Charges	Jan. 27, 2024
Restructuring Charges [Abstract]
Restructuring and Other Charges	Restructuring and Other Charges In the third quarter of fiscal 2024, we initiated a restructuring plan (the “Fiscal 2024 Plan”) in order to realign the organization and enable further investment in key priority areas. The Fiscal 2024 Plan will impact approximately 5% of our global workforce, with estimated pretax charges of approximately $800 million. These aggregate pretax charges will be primarily cash-based and consist of severance and other one-time termination benefits and other costs. We expect this plan to be substantially completed during the first half of fiscal 2025. In the second quarter of fiscal 2023, we announced a restructuring plan (the “Fiscal 2023 Plan”) in order to rebalance the organization and enable further investment in key priority areas. In connection with the Fiscal 2023 Plan, we incurred charges of $12 million and $135 million for the second quarter and first six months of fiscal 2024, respectively. We incurred charges of $243 million for the second quarter and first six months of fiscal 2023. Total cumulative charges of $670 million have been recognized to date. These aggregate pretax charges were primarily cash-based and consist of severance and other one-time termination benefits, real estate-related charges, and other costs. We completed the Fiscal 2023 Plan in the second quarter of fiscal 2024. The following table summarizes the activities related to the Fiscal 2023 Plan (in millions): FISCAL 2023 PLAN Employee Other Total Liability as of July 29, 2023 $ 166 $ 44 $ 210 Charges 104 31 135 Cash payments (222) (8) (230) Non-cash items — (15) (15) Liability as of January 27, 2024 $ 48 $ 52 $ 100

Balance Sheet and Other Details

Balance Sheet and Other Details	6 Months Ended
Balance Sheet and Other Details	Jan. 27, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet and Other Details	Balance Sheet and Other Details The following tables provide details of selected balance sheet and other items (in millions, except percentages): Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents January 27, July 29, Cash and cash equivalents $ 13,715 $ 10,123 Restricted cash and restricted cash equivalents included in other current assets 565 191 Restricted cash and restricted cash equivalents included in other assets 938 1,313 Total $ 15,218 $ 11,627 Our restricted cash and restricted cash equivalents are funds primarily related to contractual obligations with suppliers. Inventories January 27, July 29, Raw materials $ 1,784 $ 1,685 Work in process 165 264 Finished goods 1,047 1,493 Service-related spares 200 186 Demonstration systems 13 16 Total $ 3,209 $ 3,644 Property and Equipment, Net January 27, July 29, Gross property and equipment: Land, buildings, and building and leasehold improvements $ 4,214 $ 4,229 Computer equipment and related software 691 744 Production, engineering, and other equipment 4,466 4,611 Operating lease assets 125 135 Furniture, fixtures and other 339 339 Total gross property and equipment 9,835 10,058 Less: accumulated depreciation and amortization (7,830) (7,973) Total $ 2,005 $ 2,085 Remaining Performance Obligations (RPO) January 27, July 29, Product $ 16,249 $ 15,802 Service 19,407 19,066 Total $ 35,656 $ 34,868 Short-term RPO $ 17,930 $ 17,910 Long-term RPO 17,726 16,958 Total $ 35,656 $ 34,868 Amount to be recognized as revenue over the next 12 months 50 % 51 % Deferred revenue $ 25,771 $ 25,550 Unbilled contract revenue 9,885 9,318 Total $ 35,656 $ 34,868 Unbilled contract revenue represents noncancelable contracts for which we have not invoiced, have an obligation to perform, and revenue has not yet been recognized in the financial statements. Deferred Revenue January 27, July 29, Product $ 11,640 $ 11,505 Service 14,131 14,045 Total $ 25,771 $ 25,550 Reported as: Current $ 14,011 $ 13,908 Noncurrent 11,760 11,642 Total $ 25,771 $ 25,550 Transition Tax Payable Our income tax payable associated with the one-time U.S. transition tax on accumulated earnings for foreign subsidiaries as a result of the Tax Cuts and Jobs Act is as follows (in millions): January 27, July 29, Current $ 1,819 $ 1,364 Noncurrent 2,273 4,092 Total $ 4,092 $ 5,456

Leases

Leases	6 Months Ended
Leases	Jan. 27, 2024
Leases [Abstract]
Leases	Leases (a) Lessee Arrangements The following table presents our operating lease balances (in millions): Balance Sheet Line Item January 27, 2024 July 29, 2023 Operating lease right-of-use assets Other assets $ 978 $ 971 Operating lease liabilities Other current liabilities $ 330 $ 313 Operating lease liabilities Other long-term liabilities 703 707 Total operating lease liabilities $ 1,033 $ 1,020 The components of our lease expenses were as follows (in millions): Three Months Ended Six Months Ended January 27, 2024 January 28, 2023 January 27, 2024 January 28, 2023 Operating lease expense $ 103 $ 98 $ 203 $ 194 Short-term lease expense 25 17 36 34 Variable lease expense 50 63 106 121 Total lease expense $ 178 $ 178 $ 345 $ 349 Supplemental information related to our operating leases is as follows (in millions): Six Months Ended January 27, 2024 January 28, 2023 Cash paid for amounts included in the measurement of lease liabilities — operating cash flows $ 178 $ 192 Right-of-use assets obtained in exchange for operating leases liabilities $ 182 $ 149 The weighted-average lease term was 4.6 years as of each of January 27, 2024 and July 29, 2023. The weighted-average discount rate was 3.7% and 3.1% as of January 27, 2024 and July 29, 2023, respectively. The maturities of our operating leases (undiscounted) as of January 27, 2024 are as follows (in millions): Fiscal Year Amount 2024 (remaining six months) $ 183 2025 303 2026 206 2027 129 2028 94 Thereafter 231 Total lease payments 1,146 Less interest (113) Total $ 1,033 (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 $16 million and $30 million for the second quarter and the first six months of fiscal 2024, respectively, and $12 million and $24 million for the corresponding periods of fiscal 2023, 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 January 27, 2024 are summarized as follows (in millions): Fiscal Year Amount 2024 (remaining six months) $ 401 2025 369 2026 125 2027 91 2028 68 Thereafter 45 Total 1,099 Less: Present value of lease payments (989) Unearned income $ 110 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 us and the associated accumulated depreciation are summarized as follows (in millions): January 27, 2024 July 29, 2023 Operating lease assets $ 125 $ 135 Accumulated depreciation (72) (78) Operating lease assets, net $ 53 $ 57 Our operating lease income was $15 million and $31 million for the second quarter and first six months of fiscal 2024, respectively, and $18 million and $39 million for the corresponding periods of fiscal 2023, respectively, and was included in product revenue in the Consolidated Statements of Operations. Minimum future rentals on noncancelable operating leases as of January 27, 2024 are summarized as follows (in millions): Fiscal Year Amount 2024 (remaining six months) $ 12 2025 16 2026 9 2027 1 Total $ 38
Leases	Leases (a) Lessee Arrangements The following table presents our operating lease balances (in millions): Balance Sheet Line Item January 27, 2024 July 29, 2023 Operating lease right-of-use assets Other assets $ 978 $ 971 Operating lease liabilities Other current liabilities $ 330 $ 313 Operating lease liabilities Other long-term liabilities 703 707 Total operating lease liabilities $ 1,033 $ 1,020 The components of our lease expenses were as follows (in millions): Three Months Ended Six Months Ended January 27, 2024 January 28, 2023 January 27, 2024 January 28, 2023 Operating lease expense $ 103 $ 98 $ 203 $ 194 Short-term lease expense 25 17 36 34 Variable lease expense 50 63 106 121 Total lease expense $ 178 $ 178 $ 345 $ 349 Supplemental information related to our operating leases is as follows (in millions): Six Months Ended January 27, 2024 January 28, 2023 Cash paid for amounts included in the measurement of lease liabilities — operating cash flows $ 178 $ 192 Right-of-use assets obtained in exchange for operating leases liabilities $ 182 $ 149 The weighted-average lease term was 4.6 years as of each of January 27, 2024 and July 29, 2023. The weighted-average discount rate was 3.7% and 3.1% as of January 27, 2024 and July 29, 2023, respectively. The maturities of our operating leases (undiscounted) as of January 27, 2024 are as follows (in millions): Fiscal Year Amount 2024 (remaining six months) $ 183 2025 303 2026 206 2027 129 2028 94 Thereafter 231 Total lease payments 1,146 Less interest (113) Total $ 1,033 (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 $16 million and $30 million for the second quarter and the first six months of fiscal 2024, respectively, and $12 million and $24 million for the corresponding periods of fiscal 2023, 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 January 27, 2024 are summarized as follows (in millions): Fiscal Year Amount 2024 (remaining six months) $ 401 2025 369 2026 125 2027 91 2028 68 Thereafter 45 Total 1,099 Less: Present value of lease payments (989) Unearned income $ 110 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 us and the associated accumulated depreciation are summarized as follows (in millions): January 27, 2024 July 29, 2023 Operating lease assets $ 125 $ 135 Accumulated depreciation (72) (78) Operating lease assets, net $ 53 $ 57 Our operating lease income was $15 million and $31 million for the second quarter and first six months of fiscal 2024, respectively, and $18 million and $39 million for the corresponding periods of fiscal 2023, respectively, and was included in product revenue in the Consolidated Statements of Operations. Minimum future rentals on noncancelable operating leases as of January 27, 2024 are summarized as follows (in millions): Fiscal Year Amount 2024 (remaining six months) $ 12 2025 16 2026 9 2027 1 Total $ 38
Leases	Leases (a) Lessee Arrangements The following table presents our operating lease balances (in millions): Balance Sheet Line Item January 27, 2024 July 29, 2023 Operating lease right-of-use assets Other assets $ 978 $ 971 Operating lease liabilities Other current liabilities $ 330 $ 313 Operating lease liabilities Other long-term liabilities 703 707 Total operating lease liabilities $ 1,033 $ 1,020 The components of our lease expenses were as follows (in millions): Three Months Ended Six Months Ended January 27, 2024 January 28, 2023 January 27, 2024 January 28, 2023 Operating lease expense $ 103 $ 98 $ 203 $ 194 Short-term lease expense 25 17 36 34 Variable lease expense 50 63 106 121 Total lease expense $ 178 $ 178 $ 345 $ 349 Supplemental information related to our operating leases is as follows (in millions): Six Months Ended January 27, 2024 January 28, 2023 Cash paid for amounts included in the measurement of lease liabilities — operating cash flows $ 178 $ 192 Right-of-use assets obtained in exchange for operating leases liabilities $ 182 $ 149 The weighted-average lease term was 4.6 years as of each of January 27, 2024 and July 29, 2023. The weighted-average discount rate was 3.7% and 3.1% as of January 27, 2024 and July 29, 2023, respectively. The maturities of our operating leases (undiscounted) as of January 27, 2024 are as follows (in millions): Fiscal Year Amount 2024 (remaining six months) $ 183 2025 303 2026 206 2027 129 2028 94 Thereafter 231 Total lease payments 1,146 Less interest (113) Total $ 1,033 (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 $16 million and $30 million for the second quarter and the first six months of fiscal 2024, respectively, and $12 million and $24 million for the corresponding periods of fiscal 2023, 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 January 27, 2024 are summarized as follows (in millions): Fiscal Year Amount 2024 (remaining six months) $ 401 2025 369 2026 125 2027 91 2028 68 Thereafter 45 Total 1,099 Less: Present value of lease payments (989) Unearned income $ 110 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 us and the associated accumulated depreciation are summarized as follows (in millions): January 27, 2024 July 29, 2023 Operating lease assets $ 125 $ 135 Accumulated depreciation (72) (78) Operating lease assets, net $ 53 $ 57 Our operating lease income was $15 million and $31 million for the second quarter and first six months of fiscal 2024, respectively, and $18 million and $39 million for the corresponding periods of fiscal 2023, respectively, and was included in product revenue in the Consolidated Statements of Operations. Minimum future rentals on noncancelable operating leases as of January 27, 2024 are summarized as follows (in millions): Fiscal Year Amount 2024 (remaining six months) $ 12 2025 16 2026 9 2027 1 Total $ 38

Financing Receivables

Financing Receivables	6 Months Ended
Financing Receivables	Jan. 27, 2024
Receivables [Abstract]
Financing Receivables	Financing Receivables (a) Financing Receivables Financing receivables primarily consist of loan receivables and lease receivables. Loan receivables represent financing arrangements related to the sale of our hardware, software, and services (including technical support and advanced services), and also may include additional funding for other costs associated with network installation and integration of our products and services. Loan receivables have terms of one year to three years on average. Lease receivables represent sales-type leases resulting from the sale of Cisco’s and complementary third-party products and are typically collateralized by a security interest in the underlying assets. Lease receivables consist of arrangements with terms of four years on average. A summary of our financing receivables is presented as follows (in millions): January 27, 2024 Loan Receivables Lease Receivables Total Gross $ 5,850 $ 1,099 $ 6,949 Residual value — 70 70 Unearned income — (110) (110) Allowance for credit loss (53) (16) (69) Total, net $ 5,797 $ 1,043 $ 6,840 Reported as: Current $ 3,066 $ 410 $ 3,476 Noncurrent 2,731 633 3,364 Total, net $ 5,797 $ 1,043 $ 6,840 July 29, 2023 Loan Receivables Lease Receivables Total Gross $ 5,910 $ 1,015 $ 6,925 Residual value — 70 70 Unearned income — (88) (88) Allowance for credit loss (53) (19) (72) Total, net $ 5,857 $ 978 $ 6,835 Reported as: Current $ 2,988 $ 364 $ 3,352 Noncurrent 2,869 614 3,483 Total, net $ 5,857 $ 978 $ 6,835 (b) Credit Quality of Financing Receivables The tables below present our gross financing receivables, excluding residual value, less unearned income, categorized by our internal credit risk rating by period of origination (in millions): January 27, 2024 Fiscal Year Six Months Ended Internal Credit Risk Rating Prior July 25, 2020 July 31, 2021 July 30, 2022 July 29, 2023 January 27, 2024 Total Loan Receivables: 1 to 4 $ 24 $ 164 $ 552 $ 783 $ 1,243 $ 1,008 $ 3,774 5 to 6 6 67 169 256 629 821 1,948 7 and Higher 4 4 12 87 18 3 128 Total Loan Receivables $ 34 $ 235 $ 733 $ 1,126 $ 1,890 $ 1,832 $ 5,850 Lease Receivables: 1 to 4 $ 6 $ 31 $ 71 $ 71 $ 224 $ 215 $ 618 5 to 6 4 28 41 71 158 53 355 7 and Higher 1 1 2 4 5 3 16 Total Lease Receivables $ 11 $ 60 $ 114 $ 146 $ 387 $ 271 $ 989 Total $ 45 $ 295 $ 847 $ 1,272 $ 2,277 $ 2,103 $ 6,839 July 29, 2023 Fiscal Year Internal Credit Risk Rating Prior July 27, 2019 July 25, 2020 July 31, 2021 July 30, 2022 July 29, 2023 Total Loan Receivables: 1 to 4 $ 10 $ 53 $ 251 $ 791 $ 1,077 $ 1,784 $ 3,966 5 to 6 3 14 131 287 465 936 1,836 7 and Higher 1 7 15 17 29 39 108 Total Loan Receivables $ 14 $ 74 $ 397 $ 1,095 $ 1,571 $ 2,759 $ 5,910 Lease Receivables: 1 to 4 $ 2 $ 20 $ 57 $ 111 $ 84 $ 235 $ 509 5 to 6 2 13 44 58 87 191 395 7 and Higher — 1 2 4 5 11 23 Total Lease Receivables $ 4 $ 34 $ 103 $ 173 $ 176 $ 437 $ 927 Total $ 18 $ 108 $ 500 $ 1,268 $ 1,747 $ 3,196 $ 6,837 The following tables present the aging analysis of gross receivables as of January 27, 2024 and July 29, 2023 (in millions): DAYS PAST DUE January 27, 2024 31-60 61-90 91+ Total Current Total 120+ Still Accruing Nonaccrual Impaired Loan receivables $ 55 $ 32 $ 74 $ 161 $ 5,689 $ 5,850 $ 23 $ 8 $ 8 Lease receivables 19 8 21 48 941 989 11 2 2 Total $ 74 $ 40 $ 95 $ 209 $ 6,630 $ 6,839 $ 34 $ 10 $ 10 DAYS PAST DUE July 29, 2023 31-60 61-90 91+ Total Current Total 120+ Still Accruing Nonaccrual Impaired Loan receivables $ 47 $ 20 $ 37 $ 104 $ 5,806 $ 5,910 $ 17 $ 12 $ 12 Lease receivables 16 4 23 43 884 927 6 3 3 Total $ 63 $ 24 $ 60 $ 147 $ 6,690 $ 6,837 $ 23 $ 15 $ 15 Past due financing receivables are those that are 31 days or more past due according to their contractual payment terms. The data in the preceding tables is presented by contract, and the aging classification of each contract is based on the oldest outstanding receivable, and therefore past due amounts also include unbilled and current receivables within the same contract. (c) Allowance for Credit Loss Rollforward The allowances for credit loss and the related financing receivables are summarized as follows (in millions): Three Months Ended January 27, 2024 CREDIT LOSS ALLOWANCES Loan Receivables Lease Receivables Total Allowance for credit loss as of October 28, 2023 $ 58 $ 16 $ 74 Provisions (benefits) (1) — (1) Recoveries (write-offs), net (4) — (4) Allowance for credit loss as of January 27, 2024 $ 53 $ 16 $ 69 Three Months Ended January 28, 2023 CREDIT LOSS ALLOWANCES Loan Receivables Lease Receivables Total Allowance for credit loss as of October 29, 2022 $ 101 $ 19 $ 120 Provisions (benefits) (3) (1) (4) Other (4) 1 (3) Allowance for credit loss as of January 28, 2023 $ 94 $ 19 $ 113 Six Months Ended January 27, 2024 CREDIT LOSS ALLOWANCES Loan Receivables Lease Receivables Total Allowance for credit loss as of July 29, 2023 $ 53 $ 19 $ 72 Provisions (benefits) 4 (3) 1 Recoveries (write-offs), net (4) — (4) Allowance for credit loss as of January 27, 2024 $ 53 $ 16 $ 69 Six Months Ended January 28, 2023 CREDIT LOSS ALLOWANCES Loan Receivables Lease Receivables Total Allowance for credit loss as of July 30, 2022 $ 103 $ 23 $ 126 Provisions (benefits) (4) (4) (8) Other (5) — (5) Allowance for credit loss as of January 28, 2023 $ 94 $ 19 $ 113

Investments

Investments	6 Months Ended
Investments	Jan. 27, 2024
Investments, Debt and Equity Securities [Abstract]
Investments	Investments (a) Summary of Available-for-Sale Debt Investments The following tables summarize our available-for-sale debt investments (in millions): January 27, 2024 Amortized Gross Gross Fair U.S. government securities $ 2,428 $ 3 $ (34) $ 2,397 U.S. government agency securities 354 — (2) 352 Non-U.S. government and agency securities 364 — — 364 Corporate debt securities 5,343 7 (210) 5,140 U.S. agency mortgage-backed securities 2,127 1 (197) 1,931 Commercial paper 828 — — 828 Certificates of deposit 518 — — 518 Total $ 11,962 $ 11 $ (443) $ 11,530 July 29, 2023 Amortized Gross Gross Fair U.S. government securities $ 3,587 $ 1 $ (62) $ 3,526 U.S. government agency securities 428 — (5) 423 Non-U.S. government and agency securities 364 — (1) 363 Corporate debt securities 7,238 3 (327) 6,914 U.S. agency mortgage-backed securities 2,421 14 (230) 2,205 Commercial paper 1,484 — — 1,484 Certificates of deposit 677 — — 677 Total $ 16,199 $ 18 $ (625) $ 15,592 The following table presents the gross realized gains and gross realized losses related to available-for-sale debt investments (in millions): Three Months Ended Six Months Ended January 27, 2024 January 28, 2023 January 27, 2024 January 28, 2023 Gross realized gains $ 5 $ 3 $ 5 $ 3 Gross realized losses (28) (6) (48) (12) Total $ (23) $ (3) $ (43) $ (9) 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 January 27, 2024 and July 29, 2023 (in millions): UNREALIZED LOSSES UNREALIZED LOSSES TOTAL January 27, 2024 Fair Value Gross Fair Value Gross Fair Value Gross U.S. government securities $ 1,145 $ (9) $ 550 $ (25) $ 1,695 $ (34) U.S. government agency securities 224 — 39 (2) 263 (2) Non-U.S. government and agency securities 200 — — — 200 — Corporate debt securities 557 (2) 3,527 (178) 4,084 (180) U.S. agency mortgage-backed securities 415 (6) 1,320 (191) 1,735 (197) Commercial paper 10 — — — 10 — Total $ 2,551 $ (17) $ 5,436 $ (396) $ 7,987 $ (413) UNREALIZED LOSSES UNREALIZED LOSSES TOTAL July 29, 2023 Fair Value Gross Fair Value Gross Fair Value Gross U.S. government securities $ 2,394 $ (26) $ 931 $ (36) $ 3,325 $ (62) U.S. government agency securities 343 (2) 72 (3) 415 (5) Non-U.S. government and agency securities 363 (1) — — 363 (1) Corporate debt securities 1,736 (22) 4,315 (275) 6,051 (297) U.S. agency mortgage-backed securities 658 (13) 1,438 (217) 2,096 (230) Commercial paper 97 — — — 97 — Certificates of deposit 2 — — — 2 — Total $ 5,593 $ (64) $ 6,756 $ (531) $ 12,349 $ (595) The following table summarizes the maturities of our available-for-sale debt investments as of January 27, 2024 (in millions): Amortized Cost Fair Value Within 1 year $ 3,686 $ 3,642 After 1 year through 5 years 6,149 5,957 Mortgage-backed securities with no single maturity 2,127 1,931 Total $ 11,962 $ 11,530 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 We held marketable equity securities of $426 million and $431 million as of January 27, 2024 and July 29, 2023, respectively. We recognized a net unrealized gain of $55 million and $17 million during the second quarter and first six months of fiscal 2024, respectively, and a net unrealized gain of $11 million and a net unrealized loss of $9 million during the corresponding periods of fiscal 2023, respectively, on our marketable securities still held as of the reporting date. Our net adjustments to non-marketable equity securities measured using the measurement alternative still held was a net loss of $134 million for the second quarter and first six months of fiscal 2024, and a net gain of $3 million and a net loss of $8 million for the corresponding periods of fiscal 2023, respectively. We held equity interests in certain private equity funds of $0.8 billion and $0.9 billion as of January 27, 2024 and July 29, 2023, respectively, which are accounted for under the NAV practical expedient. 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 January 27, 2024, there were no additional 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 $1.6 billion and $1.8 billion as of January 27, 2024 and July 29, 2023, respectively. Of the total carrying value of our investments in privately held companies as of January 27, 2024, $0.9 billion of such investments are considered to be in variable interest entities which are unconsolidated. As of January 27, 2024, we have total funding commitments of $0.2 billion related to privately held investments. The carrying value of these investments and the additional funding commitments, collectively, represent our maximum exposure related to privately held investments.

Fair Value

Fair Value	6 Months Ended
Fair Value	Jan. 27, 2024
Fair Value Disclosures [Abstract]
Fair Value	Fair Value (a) 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): JANUARY 27, 2024 JULY 29, 2023 FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS Level 1 Level 2 Total Level 1 Level 2 Total Assets: Cash equivalents: Money market funds $ 10,103 $ — $ 10,103 $ 6,496 $ — $ 6,496 Commercial paper — 1,023 1,023 — 1,090 1,090 Certificates of deposit — 2 2 — 47 47 Corporate debt securities — 30 30 — 25 25 Non-U.S. government and agency securities — 7 7 — — — Available-for-sale debt investments: U.S. government securities — 2,397 2,397 — 3,526 3,526 U.S. government agency securities — 352 352 — 423 423 Non-U.S. government and agency securities — 364 364 — 363 363 Corporate debt securities — 5,140 5,140 — 6,914 6,914 U.S. agency mortgage-backed securities — 1,931 1,931 — 2,205 2,205 Commercial paper — 828 828 — 1,484 1,484 Certificates of deposit — 518 518 — 677 677 Equity investments: Marketable equity securities 426 — 426 431 — 431 Other current assets: Money market funds 563 — 563 188 — 188 Other assets: Money market funds 938 — 938 1,313 — 1,313 Derivative assets — 50 50 — 32 32 Total $ 12,030 $ 12,642 $ 24,672 $ 8,428 $ 16,786 $ 25,214 Liabilities: Derivative liabilities $ — $ 70 $ 70 $ — $ 75 $ 75 Total $ — $ 70 $ 70 $ — $ 75 $ 75 Level 1 marketable equity 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. (b) Assets Measured at Fair Value on a Nonrecurring Basis Our non-marketable equity securities using the measurement alternative are adjusted to fair value on a non-recurring basis. Adjustments are made when observable transactions for identical or similar investments of the same issuer occur, or due to 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. (c) Other Fair Value Disclosures The fair value of our short-term loan receivables approximates their carrying value due to their short duration. The aggregate carrying value of our long-term loan receivables as of January 27, 2024 and July 29, 2023 was $2.7 billion and $2.9 billion, respectively. The estimated fair value of our long-term loan receivables approximates their carrying value. We use unobservable inputs in determining discounted cash flows to estimate the fair value of our long-term loan receivables, and therefore they are categorized as Level 3. As of January 27, 2024, the estimated fair value of our short-term debt

Borrowings

Borrowings	6 Months Ended
Borrowings	Jan. 27, 2024
Debt Disclosure [Abstract]
Borrowings	Borrowings (a) Short-Term Debt The following table summarizes our short-term debt (in millions, except percentages): January 27, 2024 July 29, 2023 Amount Effective Rate Amount Effective Rate Current portion of long-term debt $ 997 6.35 % $ 1,733 4.45 % Commercial paper 3,939 5.39 % — — % Total $ 4,936 $ 1,733 Effective February 6, 2024, we increased our borrowing capacity under our existing commercial paper program from $10.0 billion to $15.0 billion. We use the proceeds from the issuance of commercial paper notes for general corporate purposes. As of February 19, 2024, we had approximately $6.9 billion of commercial paper notes outstanding. 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): January 27, 2024 July 29, 2023 Maturity Date Amount Effective Rate Amount Effective Rate Senior notes: Fixed-rate notes: 2.20% September 20, 2023 $ — — $ 750 2.27% 3.625% March 4, 2024 1,000 6.35% 1,000 6.08% 3.50% June 15, 2025 500 6.66% 500 6.38% 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 7,750 8,500 Unaccreted discount/issuance costs (66) (68) Hedge accounting fair value adjustments (18) (41) Total $ 7,666 $ 8,391 Reported as: Current portion of long-term debt $ 997 $ 1,733 Long-term debt 6,669 6,658 Total $ 7,666 $ 8,391 We have entered into interest rate swaps in prior periods with an aggregate notional amount of $1.5 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 Secured Overnight Financing Rate (SOFR). 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 January 27, 2024, we were in compliance with all debt covenants. As of January 27, 2024, future principal payments for long-term debt, including the current portion, are summarized as follows (in millions): Fiscal Year Amount 2024 (remaining six months) $ 1,000 2025 500 2026 750 2027 1,500 Thereafter 4,000 Total $ 7,750 (c) Credit Facility On May 13, 2021, we entered into a 5-year $3.0 billion unsecured revolving credit agreement, as amended on April 18, 2023. On February 2, 2024, we entered into an amended and restated 5-year $5.0 billion unsecured revolving credit agreement. The interest rate for the credit agreement is determined based on a formula using certain market rates. The credit agreement requires that we comply with certain covenants, including that we maintain an interest coverage ratio (defined in the agreement as the ratio of consolidated EBITDA to consolidated interest expense) of not less than 3.0 to 1.0. As of January 27, 2024, we were in compliance with all associated covenants and we had not borrowed any funds under our credit agreement.

Derivative Instruments

Derivative Instruments	6 Months Ended
Derivative Instruments	Jan. 27, 2024
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 seek to mitigate such risks by limiting our counterparties to major financial institutions and requiring collateral in certain cases. In addition, the potential risk of loss with any one counterparty resulting from 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 January 27, July 29, Balance Sheet Line Item January 27, July 29, Derivatives designated as hedging instruments: Foreign currency derivatives Other current assets $ 35 $ 22 Other current liabilities $ 2 $ — Foreign currency derivatives Other assets 13 9 Other long-term liabilities — — Interest rate derivatives Other current assets — — Other current liabilities 3 17 Interest rate derivatives Other assets — — Other long-term liabilities 15 24 Total 48 31 20 41 Derivatives not designated as hedging instruments: Foreign currency derivatives Other current assets 2 1 Other current liabilities 37 25 Foreign currency derivatives Other assets — — Other long-term liabilities 13 9 Total 2 1 50 34 Total $ 50 $ 32 $ 70 $ 75 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 January 27, July 29, January 27, July 29, Short-term debt $ (997) $ (983) $ 3 $ 17 Long-term debt $ (485) $ (476) $ 15 $ 24 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 Six Months Ended January 27, 2024 January 28, 2023 January 27, 2024 January 28, 2023 Interest rate derivatives: Hedged items $ (14) $ (7) $ (23) $ 32 Derivatives designated as hedging instruments 14 7 23 (32) Total $ — $ — $ — $ — 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 THREE MONTHS ENDED GAINS (LOSSES) FOR THE SIX MONTHS ENDED Derivatives Not Designated as Line Item in Statements of Operations January 27, January 28, January 27, January 28, Foreign currency derivatives Other income (loss), net $ 53 $ 140 $ (77) $ 68 Total return swaps—deferred compensation Operating expenses and other 93 44 16 19 Equity derivatives Other income (loss), net — 5 2 4 Total $ 146 $ 189 $ (59) $ 91 The notional amounts of our outstanding derivatives are summarized as follows (in millions): January 27, July 29, Foreign currency derivatives $ 6,207 $ 5,419 Interest rate derivatives 1,500 1,500 Total return swaps—deferred compensation 879 792 Total $ 8,586 $ 7,711 (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. 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 provided for was $13 million and $40 million as of January 27, 2024 and July 29, 2023, 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. 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, 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 monetary assets and 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 We hold interest rate swaps designated as fair value hedges related to fixed-rate senior notes that are due in fiscal 2024 through 2025. Under these interest rate swaps, we receive fixed-rate interest payments and make interest payments based on SOFR 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 SOFR. 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 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	6 Months Ended
Commitments and Contingencies	Jan. 27, 2024
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 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 inventory purchase commitments with contract manufacturers and suppliers relate to arrangements to secure supply and 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. The following table summarizes our inventory purchase commitments with contract manufacturers and suppliers by period (in millions): January 27, July 29, Less than 1 year $ 4,711 $ 5,270 1 to 3 years 1,456 1,783 3 to 5 years 26 200 Total $ 6,193 $ 7,253 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 January 27, 2024 and July 29, 2023, the liability for these purchase commitments was $538 million and $529 million, respectively, and was included in other current liabilities. (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 Six Months Ended January 27, 2024 January 28, 2023 January 27, 2024 January 28, 2023 Compensation expense related to acquisitions $ 45 $ 49 $ 94 $ 123 As of January 27, 2024, we estimated that future cash compensation expense of up to $397 million may be required to be recognized pursuant to the applicable business combination agreements. We also have certain funding commitments, primarily related to our privately held investments. The funding commitments were $0.2 billion and $0.3 billion as of January 27, 2024 and July 29, 2023, respectively. (c) Product Warranties The following table summarizes the activity related to the product warranty liability (in millions): Six Months Ended January 27, January 28, Balance at beginning of period $ 329 $ 333 Provisions for warranties issued 198 188 Adjustments for pre-existing warranties 5 13 Settlements (205) (218) Balance at end of period $ 327 $ 316 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 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. 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 $6.6 billion and $7.5 billion for the second quarter of fiscal 2024 and 2023, respectively, and $14.8 billion and $15.1 billion for the first six months of fiscal 2024 and 2023, respectively. The balance of the channel partner financing subject to guarantees was $1.3 billion and $1.7 billion as of January 27, 2024 and July 29, 2023, respectively. Financing Guarantee Summary The aggregate amounts of channel partner financing guarantees outstanding at January 27, 2024 and July 29, 2023, 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): January 27, July 29, Maximum potential future payments $ 138 $ 159 Deferred revenue (23) (34) Total $ 115 $ 125 (e) Indemnifications In the normal course of business, we have indemnification obligations to 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 or circumstances within which an indemnification claim can be made and the amount of the claim. It is not possible to determine the maximum potential amount for claims made under the indemnification obligations due to uncertainties in the litigation process, coordination with and contributions by other parties and the defendants in these types of cases, and the unique facts and circumstances involved in each particular case and agreement. Historically, indemnity payments made by us have not had a material effect on our Consolidated Financial Statements. 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. (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 $165 million for the alleged evasion of import and other taxes, $929 million for interest, and $373 million for various penalties, all determined using an exchange rate as of January 27, 2024. 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. 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 of our products and services infringe eleven Centripetal U.S. patents. After two bench trials and various administrative actions and appeals, we have been found either to not have infringed any of the patents or the patents have been invalidated. There is an appeal of one of the invalidity decisions and we expect a further appeal by Centripetal. Between April 2020 and February 2022, Centripetal also filed complaints in the District Court of Dusseldorf in Germany (“German Court”), asserting a total of five patents and one utility model. Centripetal sought damages and injunctive relief in all cases. In various proceedings in 2021, 2022, and 2023, we have been found to have not infringe three patents, one patent was invalidated, the utility model was invalidated, and the infringement action on the final patent is stayed due to a pending invalidity action. There are appeals pending and the next proceeding is expected in the second half of fiscal 2024. On July 10, 2023, Centripetal filed a complaint in the Paris Judiciary Court asserting the French counterpart of a European Patent. Centripetal seeks damages and injunctive relief in the case. Centripetal previously asserted the German counterpart of the same European Patent in Germany and the German Court rejected Centripetal’s complaint finding no infringement. We have filed our response and defenses to the complaint and the next proceedings are expected in the second half of fiscal 2024. Due to uncertainty surrounding patent litigation processes in the U.S. and Europe, we are unable to reasonably estimate the ultimate outcome of the litigations at this time. If we do not prevail in these litigations, we believe that any damages ultimately assessed would not have a material effect on our Consolidated Financial Statements. Ramot On June 12, 2019 and on February 26, 2021, Ramot at Tel Aviv University Ltd. (“Ramot”) asserted patent infringement claims against Cisco and Acacia in the U.S. District Court for the Eastern District of Texas (“E.D. Tex.”) and in the District of Delaware (“D. Del.”), respectively. Ramot is seeking damages, including enhanced damages, and a royalty on future sales. Ramot alleges that certain optical transceiver modules and line cards infringe three patents. We challenged the validity of the patents in the U.S. Patent and Trademark Office (“PTO”) and the pending District Court cases have been stayed. On September 28, 2021 and May 24, 2022, Cisco and Acacia filed two declaratory judgment actions of noninfringement against Ramot in D. Del on other Ramot patents. The next proceedings are expected in the first half of fiscal 2025. While we believe that we have strong non-infringement and invalidity arguments in these litigations, and that Ramot’s damages theories in such cases are not supported by prevailing law, we are unable to reasonably estimate the ultimate outcome of these litigations at this time due to uncertainties in the litigation processes. If we do not prevail in court in these litigations, we believe any damages ultimately assessed would not have a material effect on our Consolidated Financial Statements. Egenera On August 8, 2016, Egenera, Inc. (“Egenera”) asserted infringement claims against us in the U.S. District Court for the District of Massachusetts, alleging that Cisco’s Unified Computing System Manager infringes three patents. Egenera sought damages, including enhanced damages, and an injunction. Two of the asserted patents were dismissed, leaving Egenera’s infringement claim based on one asserted patent. On March 25, 2022, the PTO preliminarily found all of the asserted claims of the remaining patent unpatentable in ex parte reexamination proceedings. On August 15, 2022, after a jury trial for the remaining patent, the jury returned a verdict in favor of Cisco. The District Court denied Egenera’s post-trial motions, and Egenera filed an appeal to the Federal Circuit on January 13, 2023 and the next proceedings are expected in the second half of fiscal 2024. Viasat On November 6, 2019, Viasat, Inc. (“Viasat”) filed suit against Acacia in the California Superior Court for San Diego County (“SDSC”), alleging contract and trade secret claims for certain Acacia products sold from January 1, 2019 forward. On June 9, 2020, Viasat filed another suit in SDSC alleging contract and trade secret claims for sales of additional Acacia products. Both matters have been formally dismissed and resolved through a settlement for an amount that did not have a material effect on our Consolidated Financial Statements.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
Stockholders' Equity	Jan. 27, 2024
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders’ Equity (a) Stock Repurchase Program In September 2001, our Board of Directors authorized a stock repurchase program. As of January 27, 2024, the remaining authorized amount for stock repurchases under this program was approximately $8.4 billion with no termination date. The stock repurchase activity for fiscal 2024 and 2023 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 2024 January 27, 2024 25 $ 49.54 $ 1,254 October 28, 2023 23 $ 54.53 $ 1,252 Fiscal 2023 July 29, 2023 25 $ 50.49 $ 1,254 April 29, 2023 25 $ 49.45 $ 1,259 January 28, 2023 26 $ 47.72 $ 1,256 October 29, 2022 12 $ 43.76 $ 502 There were stock repurchases of $50 million and $48 million that were pending settlement as of January 27, 2024 and July 29, 2023, respectively. The purchase price for the shares of our stock repurchased is reflected as a reduction to stockholders’ 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. (b) Dividends Declared On February 14, 2024, our Board of Directors declared a quarterly dividend of $0.40 per common share to be paid on April 24, 2024, to all stockholders of record as of the close of business on April 4, 2024. Future dividends will be subject to the approval of our Board of Directors. (c) Preferred Stock Under the terms of our Amended and Restated Certificate of Incorporation, the Board of Directors is authorized to issue preferred stock in one or more series and, in connection with the creation of such series, to fix by resolution the designation, powers (including voting powers (if any)), preferences and relative, participating, optional or other special rights, if any, of such series, and any qualifications, limitations or restrictions thereof, of the shares of such series. As of January 27, 2024, we had not issued any shares of preferred stock.

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
Employee Benefit Plans	Jan. 27, 2024
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans (a) Employee Stock Incentive Plans We have 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 us. The number and frequency of share-based awards are based on competitive practices, our operating results, government regulations, and other factors. Our primary stock incentive plan is summarized as follows: 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. The 2005 Plan may be terminated by our Board of Directors at any time and for any reason, and is currently set to terminate at the 2030 Annual Meeting unless re-adopted or extended by our stockholders 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. 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 January 27, 2024, 156 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 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. Under the Employee Stock Purchase Plan, we issued 10 million shares during the second quarter and first six months of fiscal 2024 and 9 million shares during the second quarter and first six months of fiscal 2023. As of January 27, 2024, 78 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 RSUs and stock purchase rights, granted to employees or assumed from acquisitions. The following table summarizes share-based compensation expense (in millions): Three Months Ended Six Months Ended January 27, 2024 January 28, 2023 January 27, 2024 January 28, 2023 Cost of sales—product $ 58 $ 40 $ 100 $ 71 Cost of sales—service 81 66 142 116 Share-based compensation expense in cost of sales 139 106 242 187 Research and development 344 261 618 465 Sales and marketing 221 166 407 319 General and administrative 97 71 187 129 Restructuring and other charges 1 (3) 9 (3) Share-based compensation expense in operating expenses 663 495 1,221 910 Total share-based compensation expense $ 802 $ 601 $ 1,463 $ 1,097 Income tax benefit for share-based compensation $ 202 $ 109 $ 345 $ 208 As of January 27, 2024, the total compensation cost related to unvested share-based awards not yet recognized was $5.4 billion which is expected to be recognized over approximately 2.2 years on a weighted-average basis. (d) Restricted 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 30, 2022 97 $ 46.67 Granted and assumed 72 42.08 Vested (39) 46.69 $ 1,746 Canceled/forfeited/other (8) 45.17 Unvested balance at July 29, 2023 122 $ 44.04 Granted and assumed 48 50.58 Vested (34) 42.87 $ 1,733 Canceled/forfeited/other (4) 44.50 Unvested balance at January 27, 2024 132 $ 46.69

Comprehensive Income (Loss)

Comprehensive Income (Loss)	6 Months Ended
Comprehensive Income (Loss)	Jan. 27, 2024
Equity [Abstract]
Comprehensive Income (Loss)	Comprehensive Income (Loss) The components of AOCI, net of tax, and the other comprehensive income (loss), for the first six months of fiscal 2024 and 2023 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 29, 2023 $ (440) $ 18 $ (1,153) $ (1,575) Other comprehensive income (loss) before reclassifications 132 39 (81) 90 (Gains) losses reclassified out of AOCI 43 (23) (2) 18 Tax benefit (expense) (42) (4) 1 (45) Balance at January 27, 2024 $ (307) $ 30 $ (1,235) $ (1,512) 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 30, 2022 $ (379) $ 44 $ (1,287) $ (1,622) Other comprehensive income (loss) before reclassifications (76) (12) 106 18 (Gains) losses reclassified out of AOCI 9 (37) (1) (29) Tax benefit (expense) 11 12 24 47 Balance at January 28, 2023 $ (435) $ 7 $ (1,158) $ (1,586)

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jan. 27, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The following table provides details of income taxes (in millions, except percentages): Three Months Ended Six Months Ended January 27, January 28, January 27, January 28, Income before provision for income taxes $ 3,161 $ 3,415 $ 7,603 $ 6,890 Provision for income taxes $ 527 $ 642 $ 1,331 $ 1,447 Effective tax rate 16.7 % 18.8 % 17.5 % 21.0 % As of January 27, 2024, we had $2.0 billion of unrecognized tax benefits, of which $1.6 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	6 Months Ended
Segment Information and Major Customers	Jan. 27, 2024
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 second quarter and first six months of fiscal 2024 and 2023, based on our internal management system and as utilized by our Chief Operating Decision Maker (“CODM”), is as follows (in millions): Three Months Ended Six Months Ended January 27, January 28, January 27, January 28, Revenue: Americas $ 7,510 $ 7,825 $ 16,532 $ 15,738 EMEA 3,484 3,728 7,148 7,404 APJC 1,798 2,039 3,779 4,082 Total $ 12,791 $ 13,592 $ 27,459 $ 27,224 Gross margin: Americas $ 4,932 $ 4,920 $ 10,901 $ 9,904 EMEA 2,373 2,469 4,919 4,795 APJC 1,226 1,298 2,554 2,571 Segment total 8,532 8,687 18,373 17,269 Unallocated corporate items (315) (260) (599) (496) Total $ 8,217 $ 8,427 $ 17,774 $ 16,773 Amounts may not sum due to rounding. Revenue in the United States was $6.7 billion and $7.0 billion for the second quarter of fiscal 2024 and 2023, respectively and $14.9 billion and $14.0 billion for the first six months of fiscal 2024 and 2023, respectively. (b) Revenue for Groups of Similar Products and Services We design 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. Effective in the first quarter of fiscal 2024, we began reporting our product and service revenue in the following categories: Networking, Security, Collaboration, Observability, and Services and conformed our product revenue for prior periods to the current period presentation. The following table presents revenue for groups of similar products and services (in millions): Three Months Ended Six Months Ended January 27, January 28, January 27, January 28, Revenue: Networking $ 7,081 $ 8,092 $ 15,904 $ 16,123 Security 973 943 1,984 1,914 Collaboration 989 958 2,106 2,044 Observability 188 162 378 319 Total Product 9,232 10,155 20,371 20,400 Services 3,559 3,437 7,088 6,824 Total $ 12,791 $ 13,592 $ 27,459 $ 27,224 Amounts may not sum due to rounding.

Net Income per Share

Net Income per Share	6 Months Ended
Net Income per Share	Jan. 27, 2024
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 Six Months Ended January 27, January 28, January 27, January 28, Net income $ 2,634 $ 2,773 $ 6,272 $ 5,443 Weighted-average shares—basic 4,055 4,103 4,056 4,105 Effect of dilutive potential common shares 18 13 23 10 Weighted-average shares—diluted 4,073 4,116 4,079 4,115 Net income per share—basic $ 0.65 $ 0.68 $ 1.55 $ 1.33 Net income per share—diluted $ 0.65 $ 0.67 $ 1.54 $ 1.32 Antidilutive employee share-based awards, excluded 58 17 56 91

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Jan. 27, 2024	Jan. 28, 2023	Jan. 27, 2024	Jan. 28, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 2,634	$ 2,773	$ 6,272	$ 5,443

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
Insider Trading Arrangements	Jan. 27, 2024 shares	Jan. 27, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Deborah L. Stahlkopf [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On December 5, 2023, Deborah L. Stahlkopf, Cisco’s Executive Vice President and Chief Legal Officer, adopted a trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act. Ms. Stahlkopf’s trading plan provides for the sale of 174,717 gross shares (with any shares underlying performance-based equity awards being calculated at target), plus any related dividend-equivalent shares earned with respect to such shares and excluding, as applicable, any shares withheld to satisfy tax withholding obligations in connection with the net settlement of the equity awards. Ms. Stahlkopf’s trading plan is scheduled to terminate on December 20, 2024, subject to early termination for certain specified events set forth therein.
Name	Deborah L. Stahlkopf
Title	Executive Vice President and Chief Legal Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 5, 2023
Arrangement Duration	381 days
Aggregate Available	174,717	174,717

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	6 Months Ended
Recent Accounting Pronouncements (Policies)	Jan. 27, 2024
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 2024 and fiscal 2023 are each 52-week fiscal years.
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 January 27, 2024 and for the second quarter and first six months of fiscal 2024 and 2023, 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 29, 2023 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 29, 2023. In the opinion of management, all normal recurring adjustments necessary to state fairly the consolidated balance sheet as of January 27, 2024, the results of operations, the statements of comprehensive income and the statements of equity for the second quarter and first six months of fiscal 2024 and 2023, and the statements of cash flows for the first six months of fiscal 2024 and 2023, as applicable, have been made. The results of operations for the second quarter and first six months of fiscal 2024 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 investments consolidated under the voting interest model. The noncontrolling interests attributed to these investments are not presented as a separate component in the equity section of the Consolidated Balance Sheets as these amounts are not material for any of the fiscal periods presented. 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.
Reclassifications	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 Standards or Updates Not Yet Effective	Recent Accounting Standards or Updates Not Yet Effective Segment Reporting In November 2023, the Financial Accounting Standards Board (FASB) issued an accounting standard update that expands the disclosure requirements for reportable segments, primarily through enhanced disclosures around significant segment expenses. The accounting standard update will be effective for our fiscal 2025 Form 10-K on a retrospective basis, and early adoption is permitted. We are currently evaluating the impact of this accounting standard update on our segment disclosures. Improvements on Income Tax Disclosures In December 2023, the FASB issued an accounting standard update expanding the requirements for disclosure of disaggregated information about the effective tax rate reconciliation and income taxes paid. The accounting standard update will be effective for our fiscal 2026 Form 10-K. We are currently evaluating the impact of this accounting standard update on our income tax disclosures.
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, electronic delivery (or when the software is available for download by the customer), 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 January 27, 2024 and July 29, 2023 was $36 million and $39 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 assess relevant contractual terms in our customer contracts to determine the transaction price. We apply judgment in identifying contractual terms and 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. 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 Financing receivables primarily consist of loan receivables and lease receivables. Loan receivables represent financing arrangements related to the sale of our hardware, software, and services (including technical support and advanced services), and also may include additional funding for other costs associated with network installation and integration of our products and services. Loan receivables have terms of one year to three years on average. Lease receivables represent sales-type leases resulting from the sale of Cisco’s and complementary third-party products and are typically collateralized by a security interest in the underlying assets. Lease receivables consist of arrangements with terms of four years on average.
Fair Value	Level 1 marketable equity 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. Assets Measured at Fair Value on a Nonrecurring Basis
Summary of Derivative Instruments	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 seek to mitigate such risks by limiting our counterparties to major financial institutions and requiring collateral in certain cases. In addition, the potential risk of loss with any one counterparty resulting from credit risk is monitored. Management does not expect material losses as a result of defaults by counterparties.
Offsetting of Derivative Instruments	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.
Foreign Currency Exchange Risk	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. 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, 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 monetary assets and 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 We hold interest rate swaps designated as fair value hedges related to fixed-rate senior notes that are due in fiscal 2024 through 2025. Under these interest rate swaps, we receive fixed-rate interest payments and make interest payments based on SOFR 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 SOFR. 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 and directors. 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	Purchase Commitments with Contract Manufacturers and Suppliers
Indemnifications	Indemnifications In the normal course of business, we have indemnification obligations to 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 or circumstances within which an indemnification claim can be made and the amount of the claim. It is not possible to determine the maximum potential amount for claims made under the indemnification obligations due to uncertainties in the litigation process, coordination with and contributions by other parties and the defendants in these types of cases, and the unique facts and circumstances involved in each particular case and agreement. Historically, indemnity payments made by us have not had a material effect on our Consolidated Financial Statements.
Revenue and Gross Margin by Segment	Revenue and Gross Margin by Segment

Revenue (Tables)

Revenue (Tables)	6 Months Ended
Revenue (Tables)	Jan. 27, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents this disaggregation of revenue (in millions): Three Months Ended Six Months Ended January 27, January 28, January 27, January 28, Product revenue: Networking $ 7,081 $ 8,092 $ 15,904 $ 16,123 Security 973 943 1,984 1,914 Collaboration 989 958 2,106 2,044 Observability 188 162 378 319 Total Product 9,232 10,155 20,371 20,400 Services 3,559 3,437 7,088 6,824 Total $ 12,791 $ 13,592 27,459 27,224 The following table presents revenue for groups of similar products and services (in millions): Three Months Ended Six Months Ended January 27, January 28, January 27, January 28, Revenue: Networking $ 7,081 $ 8,092 $ 15,904 $ 16,123 Security 973 943 1,984 1,914 Collaboration 989 958 2,106 2,044 Observability 188 162 378 319 Total Product 9,232 10,155 20,371 20,400 Services 3,559 3,437 7,088 6,824 Total $ 12,791 $ 13,592 $ 27,459 $ 27,224
Allowance for Credit Loss for Accounts Receivable	The allowances for credit loss for our accounts receivable are summarized as follows (in millions): Three Months Ended Six Months Ended January 27, 2024 January 28, 2023 January 27, 2024 January 28, 2023 Allowance for credit loss at beginning of period $ 82 $ 88 $ 85 $ 83 Provisions (benefits) 9 3 11 14 Recoveries (write-offs), net (12) (5) (17) (11) Allowance for credit loss at end of period $ 79 $ 86 $ 79 $ 86
Schedule of Gross Contract Assets by Internal Risk Ratings	Gross contract assets by our internal risk ratings are summarized as follows (in millions): January 27, July 29, 1 to 4 $ 693 $ 672 5 to 6 1,042 954 7 and Higher 62 60 Total $ 1,797 $ 1,686

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	6 Months Ended
Acquisitions and Divestitures (Tables)	Jan. 27, 2024
Business Combination and Asset Acquisition [Abstract]
Summary of Allocation of Total Purchase Consideration	A summary of the allocation of the total purchase consideration of our completed acquisitions during the first six months of fiscal 2024 is presented as follows (in millions): Purchase Consideration Net Tangible Assets Acquired (Liabilities Assumed) Purchased Intangible Assets Goodwill Total acquisitions $ 896 $ (50) $ 354 $ 592

Goodwill and Purchased Intang_2

Goodwill and Purchased Intangible Assets (Tables)	6 Months Ended
Goodwill and Purchased Intangible Assets (Tables)	Jan. 27, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill by Reportable Segment	The following table presents the goodwill allocated to our reportable segments as of January 27, 2024 and during the first six months of fiscal 2024 (in millions): Balance at July 29, 2023 Acquisitions Foreign Currency Translation and Other Balance at January 27, 2024 Americas $ 24,035 $ 367 $ (25) $ 24,377 EMEA 9,118 121 (10) 9,229 APJC 5,382 104 (5) 5,481 Total $ 38,535 $ 592 $ (40) $ 39,087
Schedule of Intangible Assets Acquired Through Business Combinations	The following table presents details of our intangible assets acquired through acquisitions completed during the first six months of fiscal 2024 (in millions, except years): FINITE LIVES INDEFINITE LIVES TOTAL TECHNOLOGY CUSTOMER OTHER IPR&D Weighted- Amount Weighted- Amount Weighted- Amount Amount Amount Total acquisitions 4.8 $ 280 4.8 $ 58 1.0 $ 2 $ 14 $ 354
Schedule of Intangible Assets Acquired Through Business Combinations	The following table presents details of our intangible assets acquired through acquisitions completed during the first six months of fiscal 2024 (in millions, except years): FINITE LIVES INDEFINITE LIVES TOTAL TECHNOLOGY CUSTOMER OTHER IPR&D Weighted- Amount Weighted- Amount Weighted- Amount Amount Amount Total acquisitions 4.8 $ 280 4.8 $ 58 1.0 $ 2 $ 14 $ 354
Schedule of Definite-lived Purchased Intangible Assets	The following tables present details of our purchased intangible assets (in millions): January 27, 2024 Gross Accumulated Amortization Net Purchased intangible assets with finite lives: Technology $ 3,020 $ (1,791) $ 1,229 Customer relationships 963 (709) 254 Other 42 (27) 15 Total purchased intangible assets with finite lives 4,025 (2,527) 1,498 In-process research and development, with indefinite lives 180 — 180 Total $ 4,205 $ (2,527) $ 1,678 July 29, 2023 Gross Accumulated Amortization Net Purchased intangible assets with finite lives: Technology $ 2,998 $ (1,691) $ 1,307 Customer relationships 1,228 (905) 323 Other 40 (22) 18 Total purchased intangible assets with finite lives 4,266 (2,618) 1,648 In-process research and development, with indefinite lives 170 — 170 Total $ 4,436 $ (2,618) $ 1,818
Schedule of Indefinite-lived Purchased Intangible Assets	The following tables present details of our purchased intangible assets (in millions): January 27, 2024 Gross Accumulated Amortization Net Purchased intangible assets with finite lives: Technology $ 3,020 $ (1,791) $ 1,229 Customer relationships 963 (709) 254 Other 42 (27) 15 Total purchased intangible assets with finite lives 4,025 (2,527) 1,498 In-process research and development, with indefinite lives 180 — 180 Total $ 4,205 $ (2,527) $ 1,678 July 29, 2023 Gross Accumulated Amortization Net Purchased intangible assets with finite lives: Technology $ 2,998 $ (1,691) $ 1,307 Customer relationships 1,228 (905) 323 Other 40 (22) 18 Total purchased intangible assets with finite lives 4,266 (2,618) 1,648 In-process research and development, with indefinite lives 170 — 170 Total $ 4,436 $ (2,618) $ 1,818
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 Six Months Ended January 27, 2024 January 28, 2023 January 27, 2024 January 28, 2023 Amortization of purchased intangible assets: Cost of sales $ 180 $ 158 $ 366 $ 316 Operating expenses 66 71 133 142 Total $ 246 $ 229 $ 499 $ 458
Schedule of Estimated Future Amortization Expense of Purchased Intangible Assets	The estimated future amortization expense of purchased intangible assets with finite lives as of January 27, 2024 is as follows (in millions): Fiscal Year Amount 2024 (remaining six months) $ 440 2025 $ 576 2026 $ 228 2027 $ 143 2028 $ 100 Thereafter $ 11

Restructuring and Other Charg_2

Restructuring and Other Charges (Tables)	6 Months Ended
Restructuring and Other Charges (Tables)	Jan. 27, 2024
Restructuring Charges [Abstract]
Liabilities Related to Restructuring and Other Charges	The following table summarizes the activities related to the Fiscal 2023 Plan (in millions): FISCAL 2023 PLAN Employee Other Total Liability as of July 29, 2023 $ 166 $ 44 $ 210 Charges 104 31 135 Cash payments (222) (8) (230) Non-cash items — (15) (15) Liability as of January 27, 2024 $ 48 $ 52 $ 100

Balance Sheet and Other Detai_2

Balance Sheet and Other Details (Tables)	6 Months Ended
Balance Sheet and Other Details (Tables)	Jan. 27, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	The following tables provide details of selected balance sheet and other items (in millions, except percentages): Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents January 27, July 29, Cash and cash equivalents $ 13,715 $ 10,123 Restricted cash and restricted cash equivalents included in other current assets 565 191 Restricted cash and restricted cash equivalents included in other assets 938 1,313 Total $ 15,218 $ 11,627
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	The following tables provide details of selected balance sheet and other items (in millions, except percentages): Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents January 27, July 29, Cash and cash equivalents $ 13,715 $ 10,123 Restricted cash and restricted cash equivalents included in other current assets 565 191 Restricted cash and restricted cash equivalents included in other assets 938 1,313 Total $ 15,218 $ 11,627
Inventories	Inventories January 27, July 29, Raw materials $ 1,784 $ 1,685 Work in process 165 264 Finished goods 1,047 1,493 Service-related spares 200 186 Demonstration systems 13 16 Total $ 3,209 $ 3,644
Property and Equipment, Net	Property and Equipment, Net January 27, July 29, Gross property and equipment: Land, buildings, and building and leasehold improvements $ 4,214 $ 4,229 Computer equipment and related software 691 744 Production, engineering, and other equipment 4,466 4,611 Operating lease assets 125 135 Furniture, fixtures and other 339 339 Total gross property and equipment 9,835 10,058 Less: accumulated depreciation and amortization (7,830) (7,973) Total $ 2,005 $ 2,085
Remaining Performance Obligations	Remaining Performance Obligations (RPO) January 27, July 29, Product $ 16,249 $ 15,802 Service 19,407 19,066 Total $ 35,656 $ 34,868 Short-term RPO $ 17,930 $ 17,910 Long-term RPO 17,726 16,958 Total $ 35,656 $ 34,868 Amount to be recognized as revenue over the next 12 months 50 % 51 % Deferred revenue $ 25,771 $ 25,550 Unbilled contract revenue 9,885 9,318 Total $ 35,656 $ 34,868
Deferred Revenue	Deferred Revenue January 27, July 29, Product $ 11,640 $ 11,505 Service 14,131 14,045 Total $ 25,771 $ 25,550 Reported as: Current $ 14,011 $ 13,908 Noncurrent 11,760 11,642 Total $ 25,771 $ 25,550
Transition Tax Payable	Our income tax payable associated with the one-time U.S. transition tax on accumulated earnings for foreign subsidiaries as a result of the Tax Cuts and Jobs Act is as follows (in millions): January 27, July 29, Current $ 1,819 $ 1,364 Noncurrent 2,273 4,092 Total $ 4,092 $ 5,456

Leases (Tables)

Leases (Tables)	6 Months Ended
Leases (Tables)	Jan. 27, 2024
Leases [Abstract]
Operating Lease Balances	The following table presents our operating lease balances (in millions): Balance Sheet Line Item January 27, 2024 July 29, 2023 Operating lease right-of-use assets Other assets $ 978 $ 971 Operating lease liabilities Other current liabilities $ 330 $ 313 Operating lease liabilities Other long-term liabilities 703 707 Total operating lease liabilities $ 1,033 $ 1,020
Lease Expenses and Supplemental Information	The components of our lease expenses were as follows (in millions): Three Months Ended Six Months Ended January 27, 2024 January 28, 2023 January 27, 2024 January 28, 2023 Operating lease expense $ 103 $ 98 $ 203 $ 194 Short-term lease expense 25 17 36 34 Variable lease expense 50 63 106 121 Total lease expense $ 178 $ 178 $ 345 $ 349 Supplemental information related to our operating leases is as follows (in millions): Six Months Ended January 27, 2024 January 28, 2023 Cash paid for amounts included in the measurement of lease liabilities — operating cash flows $ 178 $ 192 Right-of-use assets obtained in exchange for operating leases liabilities $ 182 $ 149
Maturities of Operating Leases	The maturities of our operating leases (undiscounted) as of January 27, 2024 are as follows (in millions): Fiscal Year Amount 2024 (remaining six months) $ 183 2025 303 2026 206 2027 129 2028 94 Thereafter 231 Total lease payments 1,146 Less interest (113) Total $ 1,033
Future Minimum Lease Payments on Lease Receivables	Future minimum lease payments on our lease receivables as of January 27, 2024 are summarized as follows (in millions): Fiscal Year Amount 2024 (remaining six months) $ 401 2025 369 2026 125 2027 91 2028 68 Thereafter 45 Total 1,099 Less: Present value of lease payments (989) Unearned income $ 110
Operating Lease Assets	Amounts relating to equipment on operating lease assets held by us and the associated accumulated depreciation are summarized as follows (in millions): January 27, 2024 July 29, 2023 Operating lease assets $ 125 $ 135 Accumulated depreciation (72) (78) Operating lease assets, net $ 53 $ 57
Minimum Future Rentals on Noncancelable Operating Leases	Minimum future rentals on noncancelable operating leases as of January 27, 2024 are summarized as follows (in millions): Fiscal Year Amount 2024 (remaining six months) $ 12 2025 16 2026 9 2027 1 Total $ 38

Financing Receivables (Tables)

Financing Receivables (Tables)	6 Months Ended
Financing Receivables (Tables)	Jan. 27, 2024
Receivables [Abstract]
Summary of Financing Receivables	A summary of our financing receivables is presented as follows (in millions): January 27, 2024 Loan Receivables Lease Receivables Total Gross $ 5,850 $ 1,099 $ 6,949 Residual value — 70 70 Unearned income — (110) (110) Allowance for credit loss (53) (16) (69) Total, net $ 5,797 $ 1,043 $ 6,840 Reported as: Current $ 3,066 $ 410 $ 3,476 Noncurrent 2,731 633 3,364 Total, net $ 5,797 $ 1,043 $ 6,840 July 29, 2023 Loan Receivables Lease Receivables Total Gross $ 5,910 $ 1,015 $ 6,925 Residual value — 70 70 Unearned income — (88) (88) Allowance for credit loss (53) (19) (72) Total, net $ 5,857 $ 978 $ 6,835 Reported as: Current $ 2,988 $ 364 $ 3,352 Noncurrent 2,869 614 3,483 Total, net $ 5,857 $ 978 $ 6,835
Schedule of Financing Receivables by Internal Credit Risk Rating by Period of Origination	The tables below present our gross financing receivables, excluding residual value, less unearned income, categorized by our internal credit risk rating by period of origination (in millions): January 27, 2024 Fiscal Year Six Months Ended Internal Credit Risk Rating Prior July 25, 2020 July 31, 2021 July 30, 2022 July 29, 2023 January 27, 2024 Total Loan Receivables: 1 to 4 $ 24 $ 164 $ 552 $ 783 $ 1,243 $ 1,008 $ 3,774 5 to 6 6 67 169 256 629 821 1,948 7 and Higher 4 4 12 87 18 3 128 Total Loan Receivables $ 34 $ 235 $ 733 $ 1,126 $ 1,890 $ 1,832 $ 5,850 Lease Receivables: 1 to 4 $ 6 $ 31 $ 71 $ 71 $ 224 $ 215 $ 618 5 to 6 4 28 41 71 158 53 355 7 and Higher 1 1 2 4 5 3 16 Total Lease Receivables $ 11 $ 60 $ 114 $ 146 $ 387 $ 271 $ 989 Total $ 45 $ 295 $ 847 $ 1,272 $ 2,277 $ 2,103 $ 6,839 July 29, 2023 Fiscal Year Internal Credit Risk Rating Prior July 27, 2019 July 25, 2020 July 31, 2021 July 30, 2022 July 29, 2023 Total Loan Receivables: 1 to 4 $ 10 $ 53 $ 251 $ 791 $ 1,077 $ 1,784 $ 3,966 5 to 6 3 14 131 287 465 936 1,836 7 and Higher 1 7 15 17 29 39 108 Total Loan Receivables $ 14 $ 74 $ 397 $ 1,095 $ 1,571 $ 2,759 $ 5,910 Lease Receivables: 1 to 4 $ 2 $ 20 $ 57 $ 111 $ 84 $ 235 $ 509 5 to 6 2 13 44 58 87 191 395 7 and Higher — 1 2 4 5 11 23 Total Lease Receivables $ 4 $ 34 $ 103 $ 173 $ 176 $ 437 $ 927 Total $ 18 $ 108 $ 500 $ 1,268 $ 1,747 $ 3,196 $ 6,837
Schedule of Aging Analysis of Financing Receivables	The following tables present the aging analysis of gross receivables as of January 27, 2024 and July 29, 2023 (in millions): DAYS PAST DUE January 27, 2024 31-60 61-90 91+ Total Current Total 120+ Still Accruing Nonaccrual Impaired Loan receivables $ 55 $ 32 $ 74 $ 161 $ 5,689 $ 5,850 $ 23 $ 8 $ 8 Lease receivables 19 8 21 48 941 989 11 2 2 Total $ 74 $ 40 $ 95 $ 209 $ 6,630 $ 6,839 $ 34 $ 10 $ 10 DAYS PAST DUE July 29, 2023 31-60 61-90 91+ Total Current Total 120+ Still Accruing Nonaccrual Impaired Loan receivables $ 47 $ 20 $ 37 $ 104 $ 5,806 $ 5,910 $ 17 $ 12 $ 12 Lease receivables 16 4 23 43 884 927 6 3 3 Total $ 63 $ 24 $ 60 $ 147 $ 6,690 $ 6,837 $ 23 $ 15 $ 15
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 January 27, 2024 CREDIT LOSS ALLOWANCES Loan Receivables Lease Receivables Total Allowance for credit loss as of October 28, 2023 $ 58 $ 16 $ 74 Provisions (benefits) (1) — (1) Recoveries (write-offs), net (4) — (4) Allowance for credit loss as of January 27, 2024 $ 53 $ 16 $ 69 Three Months Ended January 28, 2023 CREDIT LOSS ALLOWANCES Loan Receivables Lease Receivables Total Allowance for credit loss as of October 29, 2022 $ 101 $ 19 $ 120 Provisions (benefits) (3) (1) (4) Other (4) 1 (3) Allowance for credit loss as of January 28, 2023 $ 94 $ 19 $ 113 Six Months Ended January 27, 2024 CREDIT LOSS ALLOWANCES Loan Receivables Lease Receivables Total Allowance for credit loss as of July 29, 2023 $ 53 $ 19 $ 72 Provisions (benefits) 4 (3) 1 Recoveries (write-offs), net (4) — (4) Allowance for credit loss as of January 27, 2024 $ 53 $ 16 $ 69 Six Months Ended January 28, 2023 CREDIT LOSS ALLOWANCES Loan Receivables Lease Receivables Total Allowance for credit loss as of July 30, 2022 $ 103 $ 23 $ 126 Provisions (benefits) (4) (4) (8) Other (5) — (5) Allowance for credit loss as of January 28, 2023 $ 94 $ 19 $ 113

Investments (Tables)

Investments (Tables)	6 Months Ended
Investments (Tables)	Jan. 27, 2024
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): January 27, 2024 Amortized Gross Gross Fair U.S. government securities $ 2,428 $ 3 $ (34) $ 2,397 U.S. government agency securities 354 — (2) 352 Non-U.S. government and agency securities 364 — — 364 Corporate debt securities 5,343 7 (210) 5,140 U.S. agency mortgage-backed securities 2,127 1 (197) 1,931 Commercial paper 828 — — 828 Certificates of deposit 518 — — 518 Total $ 11,962 $ 11 $ (443) $ 11,530 July 29, 2023 Amortized Gross Gross Fair U.S. government securities $ 3,587 $ 1 $ (62) $ 3,526 U.S. government agency securities 428 — (5) 423 Non-U.S. government and agency securities 364 — (1) 363 Corporate debt securities 7,238 3 (327) 6,914 U.S. agency mortgage-backed securities 2,421 14 (230) 2,205 Commercial paper 1,484 — — 1,484 Certificates of deposit 677 — — 677 Total $ 16,199 $ 18 $ (625) $ 15,592
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 Six Months Ended January 27, 2024 January 28, 2023 January 27, 2024 January 28, 2023 Gross realized gains $ 5 $ 3 $ 5 $ 3 Gross realized losses (28) (6) (48) (12) Total $ (23) $ (3) $ (43) $ (9)
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 January 27, 2024 and July 29, 2023 (in millions): UNREALIZED LOSSES UNREALIZED LOSSES TOTAL January 27, 2024 Fair Value Gross Fair Value Gross Fair Value Gross U.S. government securities $ 1,145 $ (9) $ 550 $ (25) $ 1,695 $ (34) U.S. government agency securities 224 — 39 (2) 263 (2) Non-U.S. government and agency securities 200 — — — 200 — Corporate debt securities 557 (2) 3,527 (178) 4,084 (180) U.S. agency mortgage-backed securities 415 (6) 1,320 (191) 1,735 (197) Commercial paper 10 — — — 10 — Total $ 2,551 $ (17) $ 5,436 $ (396) $ 7,987 $ (413) UNREALIZED LOSSES UNREALIZED LOSSES TOTAL July 29, 2023 Fair Value Gross Fair Value Gross Fair Value Gross U.S. government securities $ 2,394 $ (26) $ 931 $ (36) $ 3,325 $ (62) U.S. government agency securities 343 (2) 72 (3) 415 (5) Non-U.S. government and agency securities 363 (1) — — 363 (1) Corporate debt securities 1,736 (22) 4,315 (275) 6,051 (297) U.S. agency mortgage-backed securities 658 (13) 1,438 (217) 2,096 (230) Commercial paper 97 — — — 97 — Certificates of deposit 2 — — — 2 — Total $ 5,593 $ (64) $ 6,756 $ (531) $ 12,349 $ (595)
Maturities of Available-for-Sale Debt Investments	The following table summarizes the maturities of our available-for-sale debt investments as of January 27, 2024 (in millions): Amortized Cost Fair Value Within 1 year $ 3,686 $ 3,642 After 1 year through 5 years 6,149 5,957 Mortgage-backed securities with no single maturity 2,127 1,931 Total $ 11,962 $ 11,530

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
Fair Value (Tables)	Jan. 27, 2024
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): JANUARY 27, 2024 JULY 29, 2023 FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS Level 1 Level 2 Total Level 1 Level 2 Total Assets: Cash equivalents: Money market funds $ 10,103 $ — $ 10,103 $ 6,496 $ — $ 6,496 Commercial paper — 1,023 1,023 — 1,090 1,090 Certificates of deposit — 2 2 — 47 47 Corporate debt securities — 30 30 — 25 25 Non-U.S. government and agency securities — 7 7 — — — Available-for-sale debt investments: U.S. government securities — 2,397 2,397 — 3,526 3,526 U.S. government agency securities — 352 352 — 423 423 Non-U.S. government and agency securities — 364 364 — 363 363 Corporate debt securities — 5,140 5,140 — 6,914 6,914 U.S. agency mortgage-backed securities — 1,931 1,931 — 2,205 2,205 Commercial paper — 828 828 — 1,484 1,484 Certificates of deposit — 518 518 — 677 677 Equity investments: Marketable equity securities 426 — 426 431 — 431 Other current assets: Money market funds 563 — 563 188 — 188 Other assets: Money market funds 938 — 938 1,313 — 1,313 Derivative assets — 50 50 — 32 32 Total $ 12,030 $ 12,642 $ 24,672 $ 8,428 $ 16,786 $ 25,214 Liabilities: Derivative liabilities $ — $ 70 $ 70 $ — $ 75 $ 75 Total $ — $ 70 $ 70 $ — $ 75 $ 75

Borrowings (Tables)

Borrowings (Tables)	6 Months Ended
Borrowings (Tables)	Jan. 27, 2024
Debt Disclosure [Abstract]
Schedule of Short-Term Debt	The following table summarizes our short-term debt (in millions, except percentages): January 27, 2024 July 29, 2023 Amount Effective Rate Amount Effective Rate Current portion of long-term debt $ 997 6.35 % $ 1,733 4.45 % Commercial paper 3,939 5.39 % — — % Total $ 4,936 $ 1,733
Schedule of Long-Term Debt	The following table summarizes our long-term debt (in millions, except percentages): January 27, 2024 July 29, 2023 Maturity Date Amount Effective Rate Amount Effective Rate Senior notes: Fixed-rate notes: 2.20% September 20, 2023 $ — — $ 750 2.27% 3.625% March 4, 2024 1,000 6.35% 1,000 6.08% 3.50% June 15, 2025 500 6.66% 500 6.38% 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 7,750 8,500 Unaccreted discount/issuance costs (66) (68) Hedge accounting fair value adjustments (18) (41) Total $ 7,666 $ 8,391 Reported as: Current portion of long-term debt $ 997 $ 1,733 Long-term debt 6,669 6,658 Total $ 7,666 $ 8,391
Schedule of Future Principal Payments for Long-Term Debt	As of January 27, 2024, future principal payments for long-term debt, including the current portion, are summarized as follows (in millions): Fiscal Year Amount 2024 (remaining six months) $ 1,000 2025 500 2026 750 2027 1,500 Thereafter 4,000 Total $ 7,750

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
Derivative Instruments (Tables)	Jan. 27, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Derivative Instruments by Balance Sheet Line Item	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 January 27, July 29, Balance Sheet Line Item January 27, July 29, Derivatives designated as hedging instruments: Foreign currency derivatives Other current assets $ 35 $ 22 Other current liabilities $ 2 $ — Foreign currency derivatives Other assets 13 9 Other long-term liabilities — — Interest rate derivatives Other current assets — — Other current liabilities 3 17 Interest rate derivatives Other assets — — Other long-term liabilities 15 24 Total 48 31 20 41 Derivatives not designated as hedging instruments: Foreign currency derivatives Other current assets 2 1 Other current liabilities 37 25 Foreign currency derivatives Other assets — — Other long-term liabilities 13 9 Total 2 1 50 34 Total $ 50 $ 32 $ 70 $ 75
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 January 27, July 29, January 27, July 29, Short-term debt $ (997) $ (983) $ 3 $ 17 Long-term debt $ (485) $ (476) $ 15 $ 24
Effect on Derivative Instruments Designated as Fair Value Hedges	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 Six Months Ended January 27, 2024 January 28, 2023 January 27, 2024 January 28, 2023 Interest rate derivatives: Hedged items $ (14) $ (7) $ (23) $ 32 Derivatives designated as hedging instruments 14 7 23 (32) Total $ — $ — $ — $ —
Effect of Derivative Instruments Not Designated as Fair Value Hedges on Consolidated Statements of Operations	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 THREE MONTHS ENDED GAINS (LOSSES) FOR THE SIX MONTHS ENDED Derivatives Not Designated as Line Item in Statements of Operations January 27, January 28, January 27, January 28, Foreign currency derivatives Other income (loss), net $ 53 $ 140 $ (77) $ 68 Total return swaps—deferred compensation Operating expenses and other 93 44 16 19 Equity derivatives Other income (loss), net — 5 2 4 Total $ 146 $ 189 $ (59) $ 91
Schedule of Notional Amounts of Derivatives Outstanding	The notional amounts of our outstanding derivatives are summarized as follows (in millions): January 27, July 29, Foreign currency derivatives $ 6,207 $ 5,419 Interest rate derivatives 1,500 1,500 Total return swaps—deferred compensation 879 792 Total $ 8,586 $ 7,711

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
Commitments and Contingencies (Tables)	Jan. 27, 2024
Commitments and Contingencies Disclosure [Abstract]
Purchase Commitments with Contract Manufacturers and Suppliers	The following table summarizes our inventory purchase commitments with contract manufacturers and suppliers by period (in millions): January 27, July 29, Less than 1 year $ 4,711 $ 5,270 1 to 3 years 1,456 1,783 3 to 5 years 26 200 Total $ 6,193 $ 7,253
Compensation Expense Related to Business Acquisitions	The following table summarizes the compensation expense related to acquisitions (in millions): Three Months Ended Six Months Ended January 27, 2024 January 28, 2023 January 27, 2024 January 28, 2023 Compensation expense related to acquisitions $ 45 $ 49 $ 94 $ 123
Schedule of Product Warranty Liability	The following table summarizes the activity related to the product warranty liability (in millions): Six Months Ended January 27, January 28, Balance at beginning of period $ 329 $ 333 Provisions for warranties issued 198 188 Adjustments for pre-existing warranties 5 13 Settlements (205) (218) Balance at end of period $ 327 $ 316
Schedule of Guarantor Obligations	The aggregate amounts of channel partner financing guarantees outstanding at January 27, 2024 and July 29, 2023, 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): January 27, July 29, Maximum potential future payments $ 138 $ 159 Deferred revenue (23) (34) Total $ 115 $ 125

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
Stockholders' Equity (Tables)	Jan. 27, 2024
Stockholders' Equity Note [Abstract]
Stock Repurchase Program	The stock repurchase activity for fiscal 2024 and 2023 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 2024 January 27, 2024 25 $ 49.54 $ 1,254 October 28, 2023 23 $ 54.53 $ 1,252 Fiscal 2023 July 29, 2023 25 $ 50.49 $ 1,254 April 29, 2023 25 $ 49.45 $ 1,259 January 28, 2023 26 $ 47.72 $ 1,256 October 29, 2022 12 $ 43.76 $ 502

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
Employee Benefit Plans (Tables)	Jan. 27, 2024
Retirement Benefits [Abstract]
Summary of Share-Based Compensation Expense	The following table summarizes share-based compensation expense (in millions): Three Months Ended Six Months Ended January 27, 2024 January 28, 2023 January 27, 2024 January 28, 2023 Cost of sales—product $ 58 $ 40 $ 100 $ 71 Cost of sales—service 81 66 142 116 Share-based compensation expense in cost of sales 139 106 242 187 Research and development 344 261 618 465 Sales and marketing 221 166 407 319 General and administrative 97 71 187 129 Restructuring and other charges 1 (3) 9 (3) Share-based compensation expense in operating expenses 663 495 1,221 910 Total share-based compensation expense $ 802 $ 601 $ 1,463 $ 1,097 Income tax benefit for share-based compensation $ 202 $ 109 $ 345 $ 208
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 30, 2022 97 $ 46.67 Granted and assumed 72 42.08 Vested (39) 46.69 $ 1,746 Canceled/forfeited/other (8) 45.17 Unvested balance at July 29, 2023 122 $ 44.04 Granted and assumed 48 50.58 Vested (34) 42.87 $ 1,733 Canceled/forfeited/other (4) 44.50 Unvested balance at January 27, 2024 132 $ 46.69

Comprehensive Income (Loss) (Ta

Comprehensive Income (Loss) (Tables)	6 Months Ended
Comprehensive Income (Loss) (Tables)	Jan. 27, 2024
Equity [Abstract]
Components of AOCI, Net of Tax	The components of AOCI, net of tax, and the other comprehensive income (loss), for the first six months of fiscal 2024 and 2023 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 29, 2023 $ (440) $ 18 $ (1,153) $ (1,575) Other comprehensive income (loss) before reclassifications 132 39 (81) 90 (Gains) losses reclassified out of AOCI 43 (23) (2) 18 Tax benefit (expense) (42) (4) 1 (45) Balance at January 27, 2024 $ (307) $ 30 $ (1,235) $ (1,512) 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 30, 2022 $ (379) $ 44 $ (1,287) $ (1,622) Other comprehensive income (loss) before reclassifications (76) (12) 106 18 (Gains) losses reclassified out of AOCI 9 (37) (1) (29) Tax benefit (expense) 11 12 24 47 Balance at January 28, 2023 $ (435) $ 7 $ (1,158) $ (1,586)

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
Income Taxes (Tables)	Jan. 27, 2024
Income Tax Disclosure [Abstract]
Income Tax Provision	The following table provides details of income taxes (in millions, except percentages): Three Months Ended Six Months Ended January 27, January 28, January 27, January 28, Income before provision for income taxes $ 3,161 $ 3,415 $ 7,603 $ 6,890 Provision for income taxes $ 527 $ 642 $ 1,331 $ 1,447 Effective tax rate 16.7 % 18.8 % 17.5 % 21.0 %

Segment Information and Major_2

Segment Information and Major Customers (Tables)	6 Months Ended
Segment Information and Major Customers (Tables)	Jan. 27, 2024
Segment Reporting [Abstract]
Reportable Segments	Summarized financial information by segment for the second quarter and first six months of fiscal 2024 and 2023, based on our internal management system and as utilized by our Chief Operating Decision Maker (“CODM”), is as follows (in millions): Three Months Ended Six Months Ended January 27, January 28, January 27, January 28, Revenue: Americas $ 7,510 $ 7,825 $ 16,532 $ 15,738 EMEA 3,484 3,728 7,148 7,404 APJC 1,798 2,039 3,779 4,082 Total $ 12,791 $ 13,592 $ 27,459 $ 27,224 Gross margin: Americas $ 4,932 $ 4,920 $ 10,901 $ 9,904 EMEA 2,373 2,469 4,919 4,795 APJC 1,226 1,298 2,554 2,571 Segment total 8,532 8,687 18,373 17,269 Unallocated corporate items (315) (260) (599) (496) Total $ 8,217 $ 8,427 $ 17,774 $ 16,773
Net Sales for Groups of Similar Products and Services	The following table presents this disaggregation of revenue (in millions): Three Months Ended Six Months Ended January 27, January 28, January 27, January 28, Product revenue: Networking $ 7,081 $ 8,092 $ 15,904 $ 16,123 Security 973 943 1,984 1,914 Collaboration 989 958 2,106 2,044 Observability 188 162 378 319 Total Product 9,232 10,155 20,371 20,400 Services 3,559 3,437 7,088 6,824 Total $ 12,791 $ 13,592 27,459 27,224 The following table presents revenue for groups of similar products and services (in millions): Three Months Ended Six Months Ended January 27, January 28, January 27, January 28, Revenue: Networking $ 7,081 $ 8,092 $ 15,904 $ 16,123 Security 973 943 1,984 1,914 Collaboration 989 958 2,106 2,044 Observability 188 162 378 319 Total Product 9,232 10,155 20,371 20,400 Services 3,559 3,437 7,088 6,824 Total $ 12,791 $ 13,592 $ 27,459 $ 27,224

Net Income per Share (Tables)

Net Income per Share (Tables)	6 Months Ended
Net Income per Share (Tables)	Jan. 27, 2024
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 Six Months Ended January 27, January 28, January 27, January 28, Net income $ 2,634 $ 2,773 $ 6,272 $ 5,443 Weighted-average shares—basic 4,055 4,103 4,056 4,105 Effect of dilutive potential common shares 18 13 23 10 Weighted-average shares—diluted 4,073 4,116 4,079 4,115 Net income per share—basic $ 0.65 $ 0.68 $ 1.55 $ 1.33 Net income per share—diluted $ 0.65 $ 0.67 $ 1.54 $ 1.32 Antidilutive employee share-based awards, excluded 58 17 56 91

Organization and Basis of Pre_2

Organization and Basis of Presentation (Details)	6 Months Ended
Organization and Basis of Presentation (Details)	Jan. 27, 2024 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of geographic segments	3

Revenue - Additional Informatio

Revenue - Additional Information Part One (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 27, 2024	Jan. 28, 2023	Jan. 27, 2024	Jan. 28, 2023	Jul. 29, 2023
Revenue from Contract with Customer [Abstract]
Allowance for future sales returns	$ 36		$ 36		$ 39
Payment terms			30 days
Accounts receivable, net	4,884		$ 4,884		5,854
Deferred revenue	25,771		25,771		$ 25,550
Amortization of sales commissions, expense	$ 166	$ 201	$ 324	$ 377

Revenue - Additional Informat_2

Revenue - Additional Information Part Two (Details) - USD ($) $ in Billions	3 Months Ended	6 Months Ended
	Jan. 27, 2024	Jan. 27, 2024	Jul. 29, 2023
Disaggregation of Revenue [Line Items]
Revenue recognized	$ 3.8	$ 8.4
Total deferred sales commissions	1.2	1.2	$ 1.1
Software and Service Agreements
Disaggregation of Revenue [Line Items]
Contract assets, net of allowances	$ 1.8	$ 1.8	$ 1.6

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 27, 2024	Jan. 28, 2023	Jan. 27, 2024	Jan. 28, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 12,791	$ 13,592	$ 27,459	$ 27,224
Product
Disaggregation of Revenue [Line Items]
Revenue	9,232	10,155	20,371	20,400
Networking
Disaggregation of Revenue [Line Items]
Revenue	7,081	8,092	15,904	16,123
Security
Disaggregation of Revenue [Line Items]
Revenue	973	943	1,984	1,914
Collaboration
Disaggregation of Revenue [Line Items]
Revenue	989	958	2,106	2,044
Observability
Disaggregation of Revenue [Line Items]
Revenue	188	162	378	319
Services
Disaggregation of Revenue [Line Items]
Revenue	$ 3,559	$ 3,437	$ 7,088	$ 6,824

Revenue - Allowance for Account

Revenue - Allowance for Accounts Receivable (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 27, 2024	Jan. 28, 2023	Jan. 27, 2024	Jan. 28, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit loss at beginning of period	$ 82	$ 88	$ 85	$ 83
Provisions (benefits)	9	3	11	14
Recoveries (write-offs), net	(12)	(5)	(17)	(11)
Allowance for credit loss at end of period	$ 79	$ 86	$ 79	$ 86

Revenue - Schedule of Internal

Revenue - Schedule of Internal Risk Ratings for Contract Assets (Details) - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Contract asset, gross	$ 1,797	$ 1,686
1 to 4
Financing Receivable, Credit Quality Indicator [Line Items]
Contract asset, gross	693	672
5 to 6
Financing Receivable, Credit Quality Indicator [Line Items]
Contract asset, gross	1,042	954
7 and Higher
Financing Receivable, Credit Quality Indicator [Line Items]
Contract asset, gross	$ 62	$ 60

Acquisitions and Divestitures -

Acquisitions and Divestitures - Summary of Allocation of Total Purchase Consideration (Details) $ in Millions	6 Months Ended
	Jan. 27, 2024 USD ($)
Business Combination and Asset Acquisition [Abstract]
Purchase Consideration	$ 896
Net Tangible Assets Acquired (Liabilities Assumed)	(50)
Purchased Intangible Assets	354
Goodwill	$ 592

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Jan. 27, 2024	Jan. 28, 2023	Apr. 01, 2024
Business Acquisition [Line Items]
Acquired cash and cash equivalents	$ 17
Splunk \| Forecast
Business Acquisition [Line Items]
Acqusition price (in dollars per share)			$ 157
Equity value of acquisition			$ 28,000
General and administrative
Business Acquisition [Line Items]
Transaction costs	$ 51	$ 3

Goodwill and Purchased Intang_3

Goodwill and Purchased Intangible Assets - Schedule of Goodwill by Reportable Segments (Details) $ in Millions	6 Months Ended
	Jan. 27, 2024 USD ($)
Goodwill [Roll Forward]
Beginning Balance	$ 38,535
Acquisitions	592
Foreign Currency Translation and Other	(40)
Ending Balance	39,087
Americas
Goodwill [Roll Forward]
Beginning Balance	24,035
Acquisitions	367
Foreign Currency Translation and Other	(25)
Ending Balance	24,377
EMEA
Goodwill [Roll Forward]
Beginning Balance	9,118
Acquisitions	121
Foreign Currency Translation and Other	(10)
Ending Balance	9,229
APJC
Goodwill [Roll Forward]
Beginning Balance	5,382
Acquisitions	104
Foreign Currency Translation and Other	(5)
Ending Balance	$ 5,481

Goodwill and Purchased Intang_4

Goodwill and Purchased Intangible Assets - Schedule of Intangible Assets Acquired Through Business Combinations (Details) $ in Millions	6 Months Ended
	Jan. 27, 2024 USD ($)
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Acquired Through Business Combinations [Line Items]
Total, amount	$ 354
In-process research and development
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Acquired Through Business Combinations [Line Items]
Indefinite-lived intangible assets acquired	$ 14
TECHNOLOGY
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Acquired Through Business Combinations [Line Items]
Weighted- Average Useful Life (in Years)	4 years 9 months 18 days
Finite lived assets acquired	$ 280
CUSTOMER RELATIONSHIPS
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Acquired Through Business Combinations [Line Items]
Weighted- Average Useful Life (in Years)	4 years 9 months 18 days
Finite lived assets acquired	$ 58
OTHER
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Acquired Through Business Combinations [Line Items]
Weighted- Average Useful Life (in Years)	1 year
Finite lived assets acquired	$ 2

Goodwill and Purchased Intang_5

Goodwill and Purchased Intangible Assets - Schedule of Purchased Intangible Assets With Finite and Indefinite Lives (Details) - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Purchased intangible assets with finite lives:
Gross	$ 4,025	$ 4,266
Accumulated Amortization	(2,527)	(2,618)
Total purchased intangible assets with finite lives, net	1,498	1,648
In-process research and development, with indefinite lives	180	170
Total finite and indefinite lives intangible assets, gross	4,205	4,436
Total finite and indefinite lives intangible assets, net	1,678	1,818
Technology
Purchased intangible assets with finite lives:
Gross	3,020	2,998
Accumulated Amortization	(1,791)	(1,691)
Total purchased intangible assets with finite lives, net	1,229	1,307
Customer relationships
Purchased intangible assets with finite lives:
Gross	963	1,228
Accumulated Amortization	(709)	(905)
Total purchased intangible assets with finite lives, net	254	323
Other
Purchased intangible assets with finite lives:
Gross	42	40
Accumulated Amortization	(27)	(22)
Total purchased intangible assets with finite lives, net	$ 15	$ 18

Goodwill and Purchased Intang_6

Goodwill and Purchased Intangible Assets - Schedule of Amortization of Purchased Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 27, 2024	Jan. 28, 2023	Jan. 27, 2024	Jan. 28, 2023
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of purchased intangible assets	$ 66	$ 71	$ 133	$ 142
Total
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of purchased intangible assets	246	229	499	458
Cost of sales
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of purchased intangible assets	180	158	366	316
Operating expenses
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of purchased intangible assets	$ 66	$ 71	$ 133	$ 142

Goodwill and Purchased Intang_7

Goodwill and Purchased Intangible Assets - Schedule of Estimated Future Amortization Expense of Purchased Intangible Assets (Details) $ in Millions	Jan. 27, 2024 USD ($)
Finite-Lived Intangible Assets, Future Amortization Expense [Abstract]
2024 (remaining six months)	$ 440
2025	576
2026	228
2027	143
2028	100
Thereafter	$ 11

Restructuring and Other Charg_3

Restructuring and Other Charges - Additional Information (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
	Feb. 20, 2024	Jan. 27, 2024	Jan. 28, 2023	Jan. 27, 2024	Jan. 28, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges		$ 12	$ 243	$ 135	$ 241
Fiscal 2024 Plan \| Subsequent event
Restructuring Cost and Reserve [Line Items]
Percentage of global workforce impacted by restructure	5%
Expected pretax charges	$ 800
FISCAL 2023 PLAN
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges		12	$ 243	135	$ 243
Cumulative restructuring charges incurred		$ 670		$ 670

Restructuring and Other Charg_4

Restructuring and Other Charges - Schedule of Activities Related to Restructuring and Other Charges (Details) $ in Millions	6 Months Ended
	Jan. 27, 2024 USD ($)
Restructuring Reserve [Roll Forward]
Liability, beginning of period	$ 210
Charges	135
Cash payments	(230)
Non-cash items	(15)
Liability, end of period	100
FISCAL 2023 PLAN \| Employee Severance
Restructuring Reserve [Roll Forward]
Liability, beginning of period	166
Charges	104
Cash payments	(222)
Non-cash items	0
Liability, end of period	48
FISCAL 2023 PLAN \| Other
Restructuring Reserve [Roll Forward]
Liability, beginning of period	44
Charges	31
Cash payments	(8)
Non-cash items	(15)
Liability, end of period	$ 52

Balance Sheet and Other Detai_3

Balance Sheet and Other Details - Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents (Details) - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023	Jan. 28, 2023	Jul. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 13,715	$ 10,123
Restricted cash and restricted cash equivalents included in other current assets	565	191
Restricted cash and restricted cash equivalents included in other assets	938	1,313
Total	$ 15,218	$ 11,627	$ 10,509	$ 8,579

Balance Sheet and Other Detai_4

Balance Sheet and Other Details - Inventories (Details) - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 1,784	$ 1,685
Work in process	165	264
Finished goods	1,047	1,493
Service-related spares	200	186
Demonstration systems	13	16
Total	$ 3,209	$ 3,644

Balance Sheet and Other Detai_5

Balance Sheet and Other Details - Property and Equipment, Net (Details) - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Property, Plant and Equipment [Line Items]
Operating lease assets	$ 125	$ 135
Total gross property and equipment	9,835	10,058
Less: accumulated depreciation and amortization	(7,830)	(7,973)
Total	2,005	2,085
Land, buildings, and building and leasehold improvements
Property, Plant and Equipment [Line Items]
Gross property and equipment, excluding operating lease assets	4,214	4,229
Computer equipment and related software
Property, Plant and Equipment [Line Items]
Gross property and equipment, excluding operating lease assets	691	744
Production, engineering, and other equipment
Property, Plant and Equipment [Line Items]
Gross property and equipment, excluding operating lease assets	4,466	4,611
Furniture, fixtures and other
Property, Plant and Equipment [Line Items]
Gross property and equipment, excluding operating lease assets	$ 339	$ 339

Balance Sheet and Other Detai_6

Balance Sheet and Other Details - Remaining Performance Obligations (Details) - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 35,656	$ 34,868
Deferred revenue	25,771	25,550
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-30
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation		$ 17,910
Period for amount to be recognized as revenue		12 months
Amount to be recognized as revenue over the next 12 months		51%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-28
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 17,930
Period for amount to be recognized as revenue	12 months
Amount to be recognized as revenue over the next 12 months	50%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-28
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation		$ 16,958
Period for amount to be recognized as revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-26
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 17,726
Period for amount to be recognized as revenue
Unbilled contract revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 9,885	$ 9,318
Product
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	16,249	15,802
Deferred revenue	11,640	11,505
Service
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	19,407	19,066
Deferred revenue	$ 14,131	$ 14,045

Balance Sheet and Other Detai_7

Balance Sheet and Other Details - Deferred Revenue (Details) - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Disaggregation of Revenue [Line Items]
Total deferred revenue	$ 25,771	$ 25,550
Current	14,011	13,908
Noncurrent	11,760	11,642
Product
Disaggregation of Revenue [Line Items]
Total deferred revenue	11,640	11,505
Service
Disaggregation of Revenue [Line Items]
Total deferred revenue	$ 14,131	$ 14,045

Balance Sheet and Other Detai_8

Balance Sheet and Other Details - Transition Tax Payable (Details) - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Current	$ 1,819	$ 1,364
Noncurrent	2,273	4,092
Total	$ 4,092	$ 5,456

Leases - Operating Lease Balanc

Leases - Operating Lease Balances (Details) - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Leases [Abstract]
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Operating lease right-of-use assets	$ 978	$ 971
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Operating lease liabilities	$ 330	$ 313
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term liabilities	Other long-term liabilities
Operating lease liabilities	$ 703	$ 707
Total operating lease liabilities	$ 1,033	$ 1,020

Leases - Lease Expenses (Detail

Leases - Lease Expenses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Leases - Lease Expenses (Details) - USD ($) $ in Millions	Jan. 27, 2024	Jan. 28, 2023	Jan. 27, 2024	Jan. 28, 2023
Leases [Abstract]
Operating lease expense	$ 103	$ 98	$ 203	$ 194
Short-term lease expense	25	17	36	34
Variable lease expense	50	63	106	121
Total lease expense	$ 178	$ 178	$ 345	$ 349

Leases - Supplemental Informati

Leases - Supplemental Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jan. 27, 2024	Jan. 28, 2023
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities — operating cash flows	$ 178	$ 192
Right-of-use assets obtained in exchange for operating leases liabilities	$ 182	$ 149

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 27, 2024	Jan. 28, 2023	Jan. 27, 2024	Jan. 28, 2023	Jul. 29, 2023
Leases [Abstract]
Weighted-average remaining lease term (in years)	4 years 7 months 6 days		4 years 7 months 6 days		4 years 7 months 6 days
Weighted-average discount rate	3.70%		3.70%		3.10%
Sales-type lease terms, on average	4 years		4 years
Interest income, lease receivables	$ 16	$ 12	$ 30	$ 24
Operating lease income	$ 15	$ 18	$ 31	$ 39

Leases - Lessee, Maturities of

Leases - Lessee, Maturities of Operating Leases (Details) - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Leases [Abstract]
2024 (remaining six months)	$ 183
2025	303
2026	206
2027	129
2028	94
Thereafter	231
Total lease payments	1,146
Less interest	(113)
Total	$ 1,033	$ 1,020

Leases - Lessor, Future Minimum

Leases - Lessor, Future Minimum Lease Payments on Lease Receivables (Details) $ in Millions	Jan. 27, 2024 USD ($)
Leases [Abstract]
2024 (remaining six months)	$ 401
2025	369
2026	125
2027	91
2028	68
Thereafter	45
Total	1,099
Less: Present value of lease payments	(989)
Unearned income	$ 110

Leases - Operating Lease Assets

Leases - Operating Lease Assets (Details) - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Leases [Abstract]
Operating lease assets	$ 125	$ 135
Accumulated depreciation	(72)	(78)
Operating lease assets, net	$ 53	$ 57

Leases - Lessor, Minimum Future

Leases - Lessor, Minimum Future Rentals on Noncancelable operating leases (Details) $ in Millions	Jan. 27, 2024 USD ($)
Leases [Abstract]
2024 (remaining six months)	$ 12
2025	16
2026	9
2027	1
Total	$ 38

Financing Receivables - Additio

Financing Receivables - Additional Information (Details)	6 Months Ended
Financing Receivables - Additional Information (Details)	Jan. 27, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Lease receivables terms, on average	4 years
Threshold for past due receivables	31 days
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables term, on average	1 year
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables term, on average	3 years

Financing Receivables - Schedul

Financing Receivables - Schedule of Financing Receivables (Details) - USD ($) $ in Millions	Jan. 27, 2024	Oct. 28, 2023	Jul. 29, 2023	Jan. 28, 2023	Oct. 29, 2022	Jul. 30, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross	$ 6,949		$ 6,925
Residual value	70		70
Unearned income	(110)		(88)
Allowance for credit loss	(69)	$ (74)	(72)	$ (113)	$ (120)	$ (126)
Total, net	6,840		6,835
Current	3,476		3,352
Noncurrent	3,364		3,483
Loan Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross	5,850		5,910
Unearned income	0		0
Allowance for credit loss	(53)	(58)	(53)	(94)	(101)	(103)
Total, net	5,797		5,857
Current	3,066		2,988
Noncurrent	2,731		2,869
Lease Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross	1,099		1,015
Residual value	70		70
Unearned income	(110)		(88)
Allowance for credit loss	(16)	$ (16)	(19)	$ (19)	$ (19)	$ (23)
Total, net	1,043		978
Current	410		364
Noncurrent	$ 633		$ 614

Financing Receivables - Sched_2

Financing Receivables - Schedule of Financing Receivables Categorized by Internal Credit Risk Rating (Details) - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Origination year - Prior	$ 45	$ 18
Origination year - Fiscal Year 2019/2018	295	108
Origination year - Fiscal Year 2020/2019	847	500
Origination year - Fiscal Year 2021/2020	1,272	1,268
Origination year - Fiscal Year 2022/2021	2,277	1,747
Origination year - Fiscal Year 2023/2022	2,103	3,196
Gross	6,839	6,837
Loan Receivables
Financing Receivable, Credit Quality Indicator [Line Items]
Origination year - Prior	34	14
Origination year - Fiscal Year 2019/2018	235	74
Origination year - Fiscal Year 2020/2019	733	397
Origination year - Fiscal Year 2021/2020	1,126	1,095
Origination year - Fiscal Year 2022/2021	1,890	1,571
Origination year - Fiscal Year 2023/2022	1,832	2,759
Gross	5,850	5,910
Lease Receivables
Financing Receivable, Credit Quality Indicator [Line Items]
Origination year - Prior	11	4
Origination year - Fiscal Year 2019/2018	60	34
Origination year - Fiscal Year 2020/2019	114	103
Origination year - Fiscal Year 2021/2020	146	173
Origination year - Fiscal Year 2022/2021	387	176
Origination year - Fiscal Year 2023/2022	271	437
Gross	989	927
1 to 4 \| Loan Receivables
Financing Receivable, Credit Quality Indicator [Line Items]
Origination year - Prior	24	10
Origination year - Fiscal Year 2019/2018	164	53
Origination year - Fiscal Year 2020/2019	552	251
Origination year - Fiscal Year 2021/2020	783	791
Origination year - Fiscal Year 2022/2021	1,243	1,077
Origination year - Fiscal Year 2023/2022	1,008	1,784
Gross	3,774	3,966
1 to 4 \| Lease Receivables
Financing Receivable, Credit Quality Indicator [Line Items]
Origination year - Prior	6	2
Origination year - Fiscal Year 2019/2018	31	20
Origination year - Fiscal Year 2020/2019	71	57
Origination year - Fiscal Year 2021/2020	71	111
Origination year - Fiscal Year 2022/2021	224	84
Origination year - Fiscal Year 2023/2022	215	235
Gross	618	509
5 to 6 \| Loan Receivables
Financing Receivable, Credit Quality Indicator [Line Items]
Origination year - Prior	6	3
Origination year - Fiscal Year 2019/2018	67	14
Origination year - Fiscal Year 2020/2019	169	131
Origination year - Fiscal Year 2021/2020	256	287
Origination year - Fiscal Year 2022/2021	629	465
Origination year - Fiscal Year 2023/2022	821	936
Gross	1,948	1,836
5 to 6 \| Lease Receivables
Financing Receivable, Credit Quality Indicator [Line Items]
Origination year - Prior	4	2
Origination year - Fiscal Year 2019/2018	28	13
Origination year - Fiscal Year 2020/2019	41	44
Origination year - Fiscal Year 2021/2020	71	58
Origination year - Fiscal Year 2022/2021	158	87
Origination year - Fiscal Year 2023/2022	53	191
Gross	355	395
7 and Higher \| Loan Receivables
Financing Receivable, Credit Quality Indicator [Line Items]
Origination year - Prior	4	1
Origination year - Fiscal Year 2019/2018	4	7
Origination year - Fiscal Year 2020/2019	12	15
Origination year - Fiscal Year 2021/2020	87	17
Origination year - Fiscal Year 2022/2021	18	29
Origination year - Fiscal Year 2023/2022	3	39
Gross	128	108
7 and Higher \| Lease Receivables
Financing Receivable, Credit Quality Indicator [Line Items]
Origination year - Prior	1	0
Origination year - Fiscal Year 2019/2018	1	1
Origination year - Fiscal Year 2020/2019	2	2
Origination year - Fiscal Year 2021/2020	4	4
Origination year - Fiscal Year 2022/2021	5	5
Origination year - Fiscal Year 2023/2022	3	11
Gross	$ 16	$ 23

Financing Receivables - Sched_3

Financing Receivables - Schedule of Aging Analysis of Financing Receivables (Details) - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Financing Receivable, Past Due [Line Items]
Gross Financing Receivables	$ 6,839	$ 6,837
120+ Still Accruing	34	23
Nonaccrual Financing Receivables	10	15
Impaired Financing Receivables	10	15
Total Past Due
Financing Receivable, Past Due [Line Items]
Gross Financing Receivables	209	147
31-60
Financing Receivable, Past Due [Line Items]
Gross Financing Receivables	74	63
61-90
Financing Receivable, Past Due [Line Items]
Gross Financing Receivables	40	24
91+
Financing Receivable, Past Due [Line Items]
Gross Financing Receivables	95	60
Current
Financing Receivable, Past Due [Line Items]
Gross Financing Receivables	6,630	6,690
Loan Receivables
Financing Receivable, Past Due [Line Items]
Gross Financing Receivables	5,850	5,910
120+ Still Accruing	23	17
Nonaccrual Financing Receivables	8	12
Impaired Financing Receivables	8	12
Loan Receivables \| Total Past Due
Financing Receivable, Past Due [Line Items]
Gross Financing Receivables	161	104
Loan Receivables \| 31-60
Financing Receivable, Past Due [Line Items]
Gross Financing Receivables	55	47
Loan Receivables \| 61-90
Financing Receivable, Past Due [Line Items]
Gross Financing Receivables	32	20
Loan Receivables \| 91+
Financing Receivable, Past Due [Line Items]
Gross Financing Receivables	74	37
Loan Receivables \| Current
Financing Receivable, Past Due [Line Items]
Gross Financing Receivables	5,689	5,806
Lease Receivables
Financing Receivable, Past Due [Line Items]
Gross Financing Receivables	989	927
120+ Still Accruing	11	6
Nonaccrual Financing Receivables	2	3
Impaired Financing Receivables	2	3
Lease Receivables \| Total Past Due
Financing Receivable, Past Due [Line Items]
Gross Financing Receivables	48	43
Lease Receivables \| 31-60
Financing Receivable, Past Due [Line Items]
Gross Financing Receivables	19	16
Lease Receivables \| 61-90
Financing Receivable, Past Due [Line Items]
Gross Financing Receivables	8	4
Lease Receivables \| 91+
Financing Receivable, Past Due [Line Items]
Gross Financing Receivables	21	23
Lease Receivables \| Current
Financing Receivable, Past Due [Line Items]
Gross Financing Receivables	$ 941	$ 884

Financing Receivables - Summary

Financing Receivables - Summary of Allowances for Credit Loss and Related Financing Receivables (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 27, 2024	Jan. 28, 2023	Jan. 27, 2024	Jan. 28, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit loss, beginning of period	$ 74	$ 120	$ 72	$ 126
Provisions (benefits)	(1)	(4)	1	(8)
Recoveries (write-offs), net	(4)		(4)
Other		(3)		(5)
Allowance for credit loss, end of period	69	113	69	113
Loan Receivables
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit loss, beginning of period	58	101	53	103
Provisions (benefits)	(1)	(3)	4	(4)
Recoveries (write-offs), net	(4)		(4)
Other		(4)		(5)
Allowance for credit loss, end of period	53	94	53	94
Lease Receivables
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit loss, beginning of period	16	19	19	23
Provisions (benefits)	0	(1)	(3)	(4)
Recoveries (write-offs), net	0		0
Other		1		0
Allowance for credit loss, end of period	$ 16	$ 19	$ 16	$ 19

Investments - Summary of Availa

Investments - Summary of Available-for-Sale Debt Investments (Details) - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 11,962	$ 16,199
Gross Unrealized Gains	11	18
Gross Unrealized and Credit Losses	(443)	(625)
Fair Value	11,530	15,592
U.S. government securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,428	3,587
Gross Unrealized Gains	3	1
Gross Unrealized and Credit Losses	(34)	(62)
Fair Value	2,397	3,526
U.S. government agency securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	354	428
Gross Unrealized Gains	0	0
Gross Unrealized and Credit Losses	(2)	(5)
Fair Value	352	423
Non-U.S. government and agency securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	364	364
Gross Unrealized Gains	0	0
Gross Unrealized and Credit Losses	0	(1)
Fair Value	364	363
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5,343	7,238
Gross Unrealized Gains	7	3
Gross Unrealized and Credit Losses	(210)	(327)
Fair Value	5,140	6,914
U.S. agency mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,127	2,421
Gross Unrealized Gains	1	14
Gross Unrealized and Credit Losses	(197)	(230)
Fair Value	1,931	2,205
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	828	1,484
Gross Unrealized Gains	0	0
Gross Unrealized and Credit Losses	0	0
Fair Value	828	1,484
Certificates of deposit
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	518	677
Gross Unrealized Gains	0	0
Gross Unrealized and Credit Losses	0	0
Fair Value	$ 518	$ 677

Investments - Gross Realized Ga

Investments - Gross Realized Gains and Gross Realized Losses Related to Available-for-Sale Investment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 27, 2024	Jan. 28, 2023	Jan. 27, 2024	Jan. 28, 2023
Investments, Debt and Equity Securities [Abstract]
Gross realized gains	$ 5	$ 3	$ 5	$ 3
Gross realized losses	(28)	(6)	(48)	(12)
Total	$ (23)	$ (3)	$ (43)	$ (9)

Investments - Available-for-Sal

Investments - Available-for-Sale Investments With Gross Unrealized Losses (Details) - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Debt Securities, Available-for-sale [Line Items]
UNREALIZED LOSSES LESS THAN 12 MONTHS, Fair Value	$ 2,551	$ 5,593
UNREALIZED LOSSES LESS THAN 12 MONTHS, Gross Unrealized Losses	(17)	(64)
UNREALIZED LOSSES 12 MONTHS OR GREATER, Fair Value	5,436	6,756
UNREALIZED LOSSES 12 MONTHS OR GREATER, Gross Unrealized Losses	(396)	(531)
TOTAL, Fair Value	7,987	12,349
TOTAL, Gross Unrealized Losses	(413)	(595)
U.S. government securities
Debt Securities, Available-for-sale [Line Items]
UNREALIZED LOSSES LESS THAN 12 MONTHS, Fair Value	1,145	2,394
UNREALIZED LOSSES LESS THAN 12 MONTHS, Gross Unrealized Losses	(9)	(26)
UNREALIZED LOSSES 12 MONTHS OR GREATER, Fair Value	550	931
UNREALIZED LOSSES 12 MONTHS OR GREATER, Gross Unrealized Losses	(25)	(36)
TOTAL, Fair Value	1,695	3,325
TOTAL, Gross Unrealized Losses	(34)	(62)
U.S. government agency securities
Debt Securities, Available-for-sale [Line Items]
UNREALIZED LOSSES LESS THAN 12 MONTHS, Fair Value	224	343
UNREALIZED LOSSES LESS THAN 12 MONTHS, Gross Unrealized Losses	0	(2)
UNREALIZED LOSSES 12 MONTHS OR GREATER, Fair Value	39	72
UNREALIZED LOSSES 12 MONTHS OR GREATER, Gross Unrealized Losses	(2)	(3)
TOTAL, Fair Value	263	415
TOTAL, Gross Unrealized Losses	(2)	(5)
Non-U.S. government and agency securities
Debt Securities, Available-for-sale [Line Items]
UNREALIZED LOSSES LESS THAN 12 MONTHS, Fair Value	200	363
UNREALIZED LOSSES LESS THAN 12 MONTHS, Gross Unrealized Losses	0	(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	200	363
TOTAL, Gross Unrealized Losses	0	(1)
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
UNREALIZED LOSSES LESS THAN 12 MONTHS, Fair Value	557	1,736
UNREALIZED LOSSES LESS THAN 12 MONTHS, Gross Unrealized Losses	(2)	(22)
UNREALIZED LOSSES 12 MONTHS OR GREATER, Fair Value	3,527	4,315
UNREALIZED LOSSES 12 MONTHS OR GREATER, Gross Unrealized Losses	(178)	(275)
TOTAL, Fair Value	4,084	6,051
TOTAL, Gross Unrealized Losses	(180)	(297)
U.S. agency mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
UNREALIZED LOSSES LESS THAN 12 MONTHS, Fair Value	415	658
UNREALIZED LOSSES LESS THAN 12 MONTHS, Gross Unrealized Losses	(6)	(13)
UNREALIZED LOSSES 12 MONTHS OR GREATER, Fair Value	1,320	1,438
UNREALIZED LOSSES 12 MONTHS OR GREATER, Gross Unrealized Losses	(191)	(217)
TOTAL, Fair Value	1,735	2,096
TOTAL, Gross Unrealized Losses	(197)	(230)
Commercial paper
Debt Securities, Available-for-sale [Line Items]
UNREALIZED LOSSES LESS THAN 12 MONTHS, Fair Value	10	97
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	10	97
TOTAL, Gross Unrealized Losses	$ 0	0
Certificates of deposit
Debt Securities, Available-for-sale [Line Items]
UNREALIZED LOSSES LESS THAN 12 MONTHS, Fair Value		2
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		2
TOTAL, Gross Unrealized Losses		$ 0

Investments - Maturities of Ava

Investments - Maturities of Available-for-Sale Debt Investments (Details) - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Amortized Cost
Within 1 year	$ 3,686
After 1 year through 5 years	6,149
Mortgage-backed securities with no single maturity	2,127
Amortized Cost	11,962	$ 16,199
Fair Value
Within 1 year	3,642
After 1 year through 5 years	5,957
Mortgage-backed securities with no single maturity	1,931
Fair Value	$ 11,530	$ 15,592

Investments - Additional Inform

Investments - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 27, 2024	Jan. 28, 2023	Jan. 27, 2024	Jan. 28, 2023	Jul. 29, 2023
Schedule of Investments [Line Items]
Marketable equity securities	$ 426		$ 426		$ 431
Net unrealized gain (loss) on marketable securities	55	$ 11	17	$ (9)
Net loss (gain) on non-marketable equity securities measured using the measurement alternative	134	$ (3)	134	$ 8
Investments in privately held companies	1,600		1,600		1,800
Funding commitments	200		200
Variable Interest Entity, Not Primary Beneficiary
Schedule of Investments [Line Items]
Investments in privately held companies	900		900
Private equity funds \| Fair value measured at NAV per share
Schedule of Investments [Line Items]
Equity interests held in certain private equity funds	$ 800		$ 800		$ 900

Fair Value - Assets and Liabili

Fair Value - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Assets:
Available-for-sale debt investments:	$ 11,530	$ 15,592
Marketable equity securities	426	431
Derivative assets	50	32
Total	24,672	25,214
Liabilities:
Derivative liabilities	70	75
Total	70	75
Money market funds
Assets:
Other current assets:	563	188
Other assets:	938	1,313
U.S. government securities
Assets:
Available-for-sale debt investments:	2,397	3,526
U.S. government agency securities
Assets:
Available-for-sale debt investments:	352	423
Non-U.S. government and agency securities
Assets:
Available-for-sale debt investments:	364	363
Corporate debt securities
Assets:
Available-for-sale debt investments:	5,140	6,914
U.S. agency mortgage-backed securities
Assets:
Available-for-sale debt investments:	1,931	2,205
Commercial paper
Assets:
Available-for-sale debt investments:	828	1,484
Certificates of deposit
Assets:
Available-for-sale debt investments:	518	677
Money market funds
Assets:
Cash equivalents:	10,103	6,496
Commercial paper
Assets:
Cash equivalents:	1,023	1,090
Certificates of deposit
Assets:
Cash equivalents:	2	47
Corporate debt securities
Assets:
Cash equivalents:	30	25
Non-U.S. government and agency securities
Assets:
Cash equivalents:	7	0
Level 1
Assets:
Marketable equity securities	426	431
Derivative assets	0	0
Total	12,030	8,428
Liabilities:
Derivative liabilities	0	0
Total	0	0
Level 1 \| Money market funds
Assets:
Other current assets:	563	188
Other assets:	938	1,313
Level 1 \| U.S. government securities
Assets:
Available-for-sale debt investments:	0	0
Level 1 \| U.S. government agency securities
Assets:
Available-for-sale debt investments:	0	0
Level 1 \| Non-U.S. government and agency securities
Assets:
Available-for-sale debt investments:	0	0
Level 1 \| Corporate debt securities
Assets:
Available-for-sale debt investments:	0	0
Level 1 \| U.S. agency mortgage-backed securities
Assets:
Available-for-sale debt investments:	0	0
Level 1 \| Commercial paper
Assets:
Available-for-sale debt investments:	0	0
Level 1 \| Certificates of deposit
Assets:
Available-for-sale debt investments:	0	0
Level 1 \| Money market funds
Assets:
Cash equivalents:	10,103	6,496
Level 1 \| Commercial paper
Assets:
Cash equivalents:	0	0
Level 1 \| Certificates of deposit
Assets:
Cash equivalents:	0	0
Level 1 \| Corporate debt securities
Assets:
Cash equivalents:	0	0
Level 1 \| Non-U.S. government and agency securities
Assets:
Cash equivalents:	0	0
Level 2
Assets:
Marketable equity securities	0	0
Derivative assets	50	32
Total	12,642	16,786
Liabilities:
Derivative liabilities	70	75
Total	70	75
Level 2 \| Money market funds
Assets:
Other current assets:	0	0
Other assets:	0	0
Level 2 \| U.S. government securities
Assets:
Available-for-sale debt investments:	2,397	3,526
Level 2 \| U.S. government agency securities
Assets:
Available-for-sale debt investments:	352	423
Level 2 \| Non-U.S. government and agency securities
Assets:
Available-for-sale debt investments:	364	363
Level 2 \| Corporate debt securities
Assets:
Available-for-sale debt investments:	5,140	6,914
Level 2 \| U.S. agency mortgage-backed securities
Assets:
Available-for-sale debt investments:	1,931	2,205
Level 2 \| Commercial paper
Assets:
Available-for-sale debt investments:	828	1,484
Level 2 \| Certificates of deposit
Assets:
Available-for-sale debt investments:	518	677
Level 2 \| Money market funds
Assets:
Cash equivalents:	0	0
Level 2 \| Commercial paper
Assets:
Cash equivalents:	1,023	1,090
Level 2 \| Certificates of deposit
Assets:
Cash equivalents:	2	47
Level 2 \| Corporate debt securities
Assets:
Cash equivalents:	30	25
Level 2 \| Non-U.S. government and agency securities
Assets:
Cash equivalents:	$ 7	$ 0

Fair Value - Additional Informa

Fair Value - Additional Information (Details) - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term financing receivables, carrying value	$ 3,364	$ 3,483
Borrowings, carrying value	7,666	8,391
Loan Receivables
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term financing receivables, carrying value	2,731	2,869
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Borrowings, fair value	$ 7,900	$ 8,700

Borrowings - Schedule of Short-

Borrowings - Schedule of Short-Term Debt (Details) - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Short-term Debt [Line Items]
Short-term debt	$ 4,936	$ 1,733
Senior Notes
Short-term Debt [Line Items]
Short-term debt	$ 997	$ 1,733
Effective Rate	6.35%	4.45%
Commercial paper
Short-term Debt [Line Items]
Short-term debt	$ 3,939	$ 0
Effective Rate	5.39%	0%

Borrowings - Additional Informa

Borrowings - Additional Information (Details)			6 Months Ended
Borrowings - Additional Information (Details)	Feb. 02, 2024 USD ($)	May 13, 2021 USD ($)	Jan. 27, 2024 USD ($)	Feb. 19, 2024 USD ($)	Feb. 06, 2024 USD ($)	Jul. 29, 2023 USD ($)
Debt Instrument [Line Items]
Short-term debt			$ 4,936,000,000			$ 1,733,000,000
Derivative, notional amount			8,586,000,000			7,711,000,000
Revolving credit facility \| Unsecured facility
Debt Instrument [Line Items]
Credit facility, term		5 years
Maximum borrowing capacity		$ 3,000,000,000
Borrowings on the funds			0
Revolving credit facility \| Unsecured facility \| Subsequent event
Debt Instrument [Line Items]
Credit facility, term	5 years
Maximum borrowing capacity	$ 5,000,000,000
Covenant, interest rate coverage ratio, minimum	3
Interest rate swaps \| Fair Value Hedge \| Derivatives designated as hedging instruments
Debt Instrument [Line Items]
Derivative, notional amount			1,500,000,000
Commercial paper
Debt Instrument [Line Items]
Commercial paper, maximum borrowing limit (up to)			10,000,000,000
Short-term debt			$ 3,939,000,000			$ 0
Commercial paper \| Subsequent event
Debt Instrument [Line Items]
Commercial paper, maximum borrowing limit (up to)					$ 15,000,000,000
Short-term debt				$ 6,900,000,000

Borrowings - Schedule of Long-T

Borrowings - Schedule of Long-Term Debt (Details) - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Debt Instrument [Line Items]
Total	$ 7,750	$ 8,500
Unaccreted discount/issuance costs	(66)	(68)
Hedge accounting fair value adjustments	(18)	(41)
Total	7,666	8,391
Current portion of long-term debt	997	1,733
Long-term debt	$ 6,669	6,658
Fixed-Rate Notes, 2.20%, Due September 20, 2023
Debt Instrument [Line Items]
Interest rate, stated percentage	2.20%
Amount	$ 0	$ 750
Effective Rate	0%	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	6.35%	6.08%
Fixed-Rate Notes, 3.50%, Due June 15, 2025
Debt Instrument [Line Items]
Interest rate, stated percentage	3.50%
Amount	$ 500	$ 500
Effective Rate	6.66%	6.38%
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	Jan. 27, 2024	Jul. 29, 2023
Debt Disclosure [Abstract]
2024 (remaining six months)	$ 1,000
2025	500
2026	750
2027	1,500
Thereafter	4,000
Total	$ 7,750	$ 8,500

Derivative Instruments - Fair V

Derivative Instruments - Fair Value of Derivatives Derivative Instruments by Balance Sheet Line Item (Details) - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Derivative [Line Items]
DERIVATIVE ASSETS	$ 50	$ 32
DERIVATIVE LIABILITIES	70	75
Derivatives designated as hedging instruments:
Derivative [Line Items]
DERIVATIVE ASSETS	48	31
DERIVATIVE LIABILITIES	20	41
Derivatives designated as hedging instruments: \| Foreign currency derivatives \| Other current assets
Derivative [Line Items]
DERIVATIVE ASSETS	35	22
Derivatives designated as hedging instruments: \| Foreign currency derivatives \| Other assets
Derivative [Line Items]
DERIVATIVE ASSETS	13	9
Derivatives designated as hedging instruments: \| Foreign currency derivatives \| Other current liabilities
Derivative [Line Items]
DERIVATIVE LIABILITIES	2	0
Derivatives designated as hedging instruments: \| Foreign currency derivatives \| Other long-term liabilities
Derivative [Line Items]
DERIVATIVE LIABILITIES	0	0
Derivatives designated as hedging instruments: \| Interest rate derivatives \| Other current assets
Derivative [Line Items]
DERIVATIVE ASSETS	0	0
Derivatives designated as hedging instruments: \| Interest rate derivatives \| Other assets
Derivative [Line Items]
DERIVATIVE ASSETS	0	0
Derivatives designated as hedging instruments: \| Interest rate derivatives \| Other current liabilities
Derivative [Line Items]
DERIVATIVE LIABILITIES	3	17
Derivatives designated as hedging instruments: \| Interest rate derivatives \| Other long-term liabilities
Derivative [Line Items]
DERIVATIVE LIABILITIES	15	24
Derivatives not designated as hedging instruments:
Derivative [Line Items]
DERIVATIVE ASSETS	2	1
DERIVATIVE LIABILITIES	50	34
Derivatives not designated as hedging instruments: \| Foreign currency derivatives \| Other current assets
Derivative [Line Items]
DERIVATIVE ASSETS	2	1
Derivatives not designated as hedging instruments: \| Foreign currency derivatives \| Other assets
Derivative [Line Items]
DERIVATIVE ASSETS	0	0
Derivatives not designated as hedging instruments: \| Foreign currency derivatives \| Other current liabilities
Derivative [Line Items]
DERIVATIVE LIABILITIES	37	25
Derivatives not designated as hedging instruments: \| Foreign currency derivatives \| Other long-term liabilities
Derivative [Line Items]
DERIVATIVE LIABILITIES	$ 13	$ 9

Derivative Instruments - Cumula

Derivative Instruments - Cumulative Basis Adjustments For Fair Value Hedges (Details) - Derivatives designated as hedging instruments: - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Short-term debt
Derivative [Line Items]
CARRYING AMOUNT OF THE HEDGED ASSETS/(LIABILITIES)	$ (997)	$ (983)
CUMULATIVE AMOUNT OF FAIR VALUE HEDGING ADJUSTMENT INCLUDED IN THE CARRYING AMOUNT OF THE HEDGED ASSETS/LIABILITIES	3	17
Long-term debt
Derivative [Line Items]
CARRYING AMOUNT OF THE HEDGED ASSETS/(LIABILITIES)	(485)	(476)
CUMULATIVE AMOUNT OF FAIR VALUE HEDGING ADJUSTMENT INCLUDED IN THE CARRYING AMOUNT OF THE HEDGED ASSETS/LIABILITIES	$ 15	$ 24

Derivative Instruments - Effect

Derivative Instruments - Effect of Derivative Instruments Designated as Fair Value Hedges (Details) - Interest rate derivatives - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 27, 2024	Jan. 28, 2023	Jan. 27, 2024	Jan. 28, 2023
Derivative [Line Items]
Hedged items	$ (14)	$ (7)	$ (23)	$ 32
Derivatives designated as hedging instruments	14	7	23	(32)
Total	$ 0	$ 0	$ 0	$ 0

Derivative Instruments - Effe_2

Derivative Instruments - Effect of Derivative Instruments Not Designated as Hedges on Consolidated Statements of Operations (Details) - Derivatives not designated as hedging instruments: - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 27, 2024	Jan. 28, 2023	Jan. 27, 2024	Jan. 28, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses)	$ 146	$ 189	$ (59)	$ 91
Foreign currency derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses)	53	140	(77)	68
Total return swaps—deferred compensation
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses)	93	44	16	19
Equity derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses)	$ 0	$ 5	$ 2	$ 4

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Notional Amounts of Derivatives Outstanding (Details) - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Derivative [Line Items]
Derivatives	$ 8,586	$ 7,711
Foreign currency derivatives
Derivative [Line Items]
Derivatives	6,207	5,419
Interest rate derivatives
Derivative [Line Items]
Derivatives	1,500	1,500
Total return swaps—deferred compensation
Derivative [Line Items]
Derivatives	$ 879	$ 792

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jan. 27, 2024	Jul. 29, 2023
Derivative [Line Items]
Net cash collateral provided for	$ 13	$ 40
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 - Schedule of Purchase Commitments (Details) - Inventories - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Unrecorded Unconditional Purchase Obligation [Line Items]
Less than 1 year	$ 4,711	$ 5,270
1 to 3 years	1,456	1,783
3 to 5 years	26	200
Total	$ 6,193	$ 7,253

Commitments and Contingencies_2

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

3 Months Ended

6 Months Ended

8 Months Ended

23 Months Ended

36 Months Ended

90 Months Ended

Jun. 12, 2019 patent

Feb. 13, 2018 patent

Aug. 08, 2016 patent

Jan. 27, 2024 USD ($) bench_trial

Jan. 28, 2023 USD ($)

Jan. 27, 2024 USD ($) bench_trial patent

Jan. 28, 2023 USD ($)

May 24, 2022 claim

Feb. 28, 2022 claim patent

Dec. 31, 2023 patent

Jan. 27, 2024 USD ($) bench_trial patent

Jul. 29, 2023 USD ($)

Loss Contingencies [Line Items]

Future compensation expense & contingent consideration (up to)

$ 397

Commitments and contingencies

Volume of channel partner financing

6,600

$ 7,500

14,800

$ 15,100

Balance of the channel partner financing subject to guarantees

$ 1,300

1,300

$ 1,300

1,700

Brazilian tax authority | Tax Year 2003 - 2007

Loss Contingencies [Line Items]

Income tax examination, tax

165

Income tax examination, interest

929

Income tax examination, penalties

$ 373

Pending litigation | Centripetal | Patent infringement | United States

Loss Contingencies [Line Items]

Number of allegedly infringed patents (patent) | patent

Number of patents found not infringed (patent) | patent

Number of bench trials | bench_trial

Number of patents invalidated with expected appeal | patent

Number of patents found invalid | patent

Pending litigation | Centripetal | Patent infringement | German

Loss Contingencies [Line Items]

Number of allegedly infringed patents (patent) | patent

Pending litigation | Centripetal | Utility model infringement | German

Loss Contingencies [Line Items]

Claims filed | claim

Pending litigation | Ramot | Patent infringement

Loss Contingencies [Line Items]

Number of allegedly infringed patents (patent) | patent

Claims filed | claim

Pending litigation | Egenera | Patent infringement

Loss Contingencies [Line Items]

Number of allegedly infringed patents (patent) | patent

Number of patents found not infringed (patent) | patent

Minimum

Loss Contingencies [Line Items]

Warranty period for products

90 days

Channel partners revolving short-term financing payment term

60 days

Maximum

Loss Contingencies [Line Items]

Warranty period for products

5 years

Channel partners revolving short-term financing payment term

90 days

Investments in privately held companies

Loss Contingencies [Line Items]

Commitments and contingencies

$ 200

300

Inventories

Loss Contingencies [Line Items]

Liability for purchase commitments

$ 538

$ 529

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Other Commitments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 27, 2024	Jan. 28, 2023	Jan. 27, 2024	Jan. 28, 2023
Acquisitions
Contingency [Line Items]
Compensation expense related to acquisitions	$ 45	$ 49	$ 94	$ 123

Commitments and Contingencies_4

Commitments and Contingencies - Schedule of Product Warranty Liability (Details) - USD ($) $ in Millions	6 Months Ended
	Jan. 27, 2024	Jan. 28, 2023
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at beginning of period	$ 329	$ 333
Provisions for warranties issued	198	188
Adjustments for pre-existing warranties	5	13
Settlements	(205)	(218)
Balance at end of period	$ 327	$ 316

Commitments and Contingencies_5

Commitments and Contingencies - Schedule of Financing Guarantees Outstanding (Details) - USD ($) $ in Millions	Jan. 27, 2024	Jul. 29, 2023
Loss Contingencies [Line Items]
Total	$ 115	$ 125
Channel partner
Loss Contingencies [Line Items]
Maximum potential future payments	138	159
Deferred revenue	$ (23)	$ (34)

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		6 Months Ended
	Feb. 14, 2024	Jan. 27, 2024	Jan. 28, 2023	Jan. 27, 2024	Jan. 28, 2023	Jul. 29, 2023
Class of Stock [Line Items]
Remaining authorized repurchase amount		$ 8,400		$ 8,400
Cash dividends declared (in dollars per share)		$ 0.39	$ 0.38	$ 0.78	$ 0.76
Subsequent event
Class of Stock [Line Items]
Cash dividends declared (in dollars per share)	$ 0.40
Stock repurchase program
Class of Stock [Line Items]
Stock repurchases pending settlement		$ 50		$ 50		$ 48

Stockholders' Equity - Stock Re

Stockholders' Equity - Stock Repurchase Program (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Jan. 27, 2024	Oct. 28, 2023	Jul. 29, 2023	Apr. 29, 2023	Jan. 28, 2023	Oct. 29, 2022
Stockholders' Equity Note [Abstract]
Shares (in shares)	25	23	25	25	26	12
Weighted-Average Price per Share (in dollars per share)	$ 49.54	$ 54.53	$ 50.49	$ 49.45	$ 47.72	$ 43.76
Amount	$ 1,254	$ 1,252	$ 1,254	$ 1,259	$ 1,256	$ 502

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Details) $ in Billions	3 Months Ended		6 Months Ended
	Jan. 27, 2024 USD ($) stock_incentive_plan shares	Jan. 28, 2023 shares	Jan. 27, 2024 USD ($) period stock_incentive_plan shares	Jan. 28, 2023 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock incentive plans (stock incentive plan) \| stock_incentive_plan	1		1
Total compensation cost related to unvested share-based awards \| $	$ 5.4		$ 5.4
Expected period of recognition of compensation cost			2 years 2 months 12 days
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
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%
Shares issued under employee purchase plan (in shares)	10,000,000	9,000,000	10,000,000	9,000,000
Shares reserved for issuance (in shares)	78,000,000		78,000,000
2005 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reduction in shares available for issuance (in shares)	1.5		1.5
Shares authorized for future grant (in shares)	156,000,000		156,000,000

Employee Benefit Plans - Summar

Employee Benefit Plans - Summary of Share-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 27, 2024	Jan. 28, 2023	Jan. 27, 2024	Jan. 28, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 802	$ 601	$ 1,463	$ 1,097
Income tax benefit for share-based compensation	202	109	345	208
Share-based compensation expense in cost of sales
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	139	106	242	187
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	344	261	618	465
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	221	166	407	319
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	97	71	187	129
Restructuring and other charges
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	1	(3)	9	(3)
Share-based compensation expense in operating expenses
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	663	495	1,221	910
Product \| Share-based compensation expense in cost of sales
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	58	40	100	71
Services \| Share-based compensation expense in cost of sales
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 81	$ 66	$ 142	$ 116

Employee Benefit Plans - Summ_2

Employee Benefit Plans - Summary of Restricted Stock and Stock Unit Activity (Details) - Restricted Stock Units - USD ($) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended	12 Months Ended
	Jan. 27, 2024	Jul. 29, 2023
Restricted Stock/ Stock Units
Beginning balance (in shares)	122	97
Granted and assumed (in shares)	48	72
Vested (in shares)	(34)	(39)
Canceled/forfeited/other (in shares)	(4)	(8)
Ending balance (in shares)	132	122
Weighted-Average Grant Date Fair Value per Share
Beginning balance (in dollars per share)	$ 44.04	$ 46.67
Granted and assumed (in dollars per share)	50.58	42.08
Vested (in dollars per share)	42.87	46.69
Canceled/forfeited/other (in dollars per share)	44.50	45.17
Ending balance (in dollars per share)	$ 46.69	$ 44.04
Aggregate Fair Value
Vested	$ 1,733	$ 1,746

Comprehensive Income (Loss) (De

Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	6 Months Ended
	Jan. 27, 2024	Jan. 28, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 44,353	$ 39,773
Other comprehensive income (loss) before reclassifications	90	18
(Gains) losses reclassified out of AOCI	18	(29)
Tax benefit (expense)	(45)	47
Ending balance	46,251	41,474
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(1,575)	(1,622)
Ending balance	(1,512)	(1,586)
Net Unrealized Gains (Losses) on Available-for-Sale Investments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(440)	(379)
Other comprehensive income (loss) before reclassifications	132	(76)
(Gains) losses reclassified out of AOCI	43	9
Tax benefit (expense)	(42)	11
Ending balance	(307)	(435)
Net Unrealized Gains (Losses) Cash Flow Hedging Instruments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	18	44
Other comprehensive income (loss) before reclassifications	39	(12)
(Gains) losses reclassified out of AOCI	(23)	(37)
Tax benefit (expense)	(4)	12
Ending balance	30	7
Cumulative Translation Adjustment and Actuarial Gains (Losses)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(1,153)	(1,287)
Other comprehensive income (loss) before reclassifications	(81)	106
(Gains) losses reclassified out of AOCI	(2)	(1)
Tax benefit (expense)	1	24
Ending balance	$ (1,235)	$ (1,158)

Income Taxes - Income Before Pr

Income Taxes - Income Before Provision for Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 27, 2024	Jan. 28, 2023	Jan. 27, 2024	Jan. 28, 2023
Income Tax Disclosure [Abstract]
Income before provision for income taxes	$ 3,161	$ 3,415	$ 7,603	$ 6,890
Provision for income taxes	$ 527	$ 642	$ 1,331	$ 1,447
Effective tax rate	16.70%	18.80%	17.50%	21%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) $ in Billions	Jan. 27, 2024 USD ($)
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 2
Unrecognized tax benefits that would impact effective tax rate	$ 1.6

Segment Information and Major_3

Segment Information and Major Customers - Additional Information (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 27, 2024 USD ($)	Jan. 28, 2023 USD ($)	Jan. 27, 2024 USD ($) segment	Jan. 28, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of geographic segments \| segment			3
Revenue	$ 12,791	$ 13,592	$ 27,459	$ 27,224
United States
Segment Reporting Information [Line Items]
Revenue	$ 6,700	$ 7,000	$ 14,900	$ 14,000

Segment Information and Major_4

Segment Information and Major Customers - Summary of Reportable Segments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 27, 2024	Jan. 28, 2023	Jan. 27, 2024	Jan. 28, 2023
Segment Reporting Information [Line Items]
Revenue	$ 12,791	$ 13,592	$ 27,459	$ 27,224
Gross margin	8,217	8,427	17,774	16,773
Operating segments
Segment Reporting Information [Line Items]
Gross margin	8,532	8,687	18,373	17,269
Operating segments \| Americas
Segment Reporting Information [Line Items]
Revenue	7,510	7,825	16,532	15,738
Gross margin	4,932	4,920	10,901	9,904
Operating segments \| EMEA
Segment Reporting Information [Line Items]
Revenue	3,484	3,728	7,148	7,404
Gross margin	2,373	2,469	4,919	4,795
Operating segments \| APJC
Segment Reporting Information [Line Items]
Revenue	1,798	2,039	3,779	4,082
Gross margin	1,226	1,298	2,554	2,571
Unallocated corporate items
Segment Reporting Information [Line Items]
Gross margin	$ (315)	$ (260)	$ (599)	$ (496)

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		6 Months Ended
	Jan. 27, 2024	Jan. 28, 2023	Jan. 27, 2024	Jan. 28, 2023
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 12,791	$ 13,592	$ 27,459	$ 27,224
Total Product
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	9,232	10,155	20,371	20,400
Networking
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	7,081	8,092	15,904	16,123
Security
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	973	943	1,984	1,914
Collaboration
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	989	958	2,106	2,044
Observability
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	188	162	378	319
Services
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 3,559	$ 3,437	$ 7,088	$ 6,824

Net Income per Share (Details)

Net Income per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jan. 27, 2024	Jan. 28, 2023	Jan. 27, 2024	Jan. 28, 2023
Earnings Per Share [Abstract]
Net income	$ 2,634	$ 2,773	$ 6,272	$ 5,443
Weighted-average shares—basic (in shares)	4,055	4,103	4,056	4,105
Effect of dilutive potential common shares (in shares)	18	13	23	10
Weighted-average shares—diluted (in shares)	4,073	4,116	4,079	4,115
Net income per share—basic (in dollars per share)	$ 0.65	$ 0.68	$ 1.55	$ 1.33
Net income per share—diluted (in dollars per share)	$ 0.65	$ 0.67	$ 1.54	$ 1.32
Antidilutive employee share-based awards, excluded (in shares)	58	17	56	91