falsedesktopCSCO2021-01-23000085887721000004{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "Large accelerated filer\t☒\tAccelerated filer\t☐\nNon-accelerated filer\t☐\tSmaller reporting company\t☐\n\t\tEmerging growth company\t☐\n", "q10k_tbl_1": "\t\tPage\nPart I\tFinancial Information\t3\nItem 1.\tFinancial Statements (Unaudited)\t3\n\tConsolidated Balance Sheets at January 23 2021 and July 25 2020\t3\n\tConsolidated Statements of Operations for the Three and Six Months Ended January 23 2021 and January 25 2020\t4\n\tConsolidated Statements of Comprehensive Income for the Three and Six Months Ended January 23 2021 and January 25 2020\t5\n\tConsolidated Statements of Cash Flows for the Six Months Ended January 23 2021 and January 25 2020\t6\n\tConsolidated Statements of Equity for the Three and Six Months Ended January 23 2021 and January 25 2020\t7\n\tNotes to Consolidated Financial Statements\t9\nItem 2.\tManagement's Discussion and Analysis of Financial Condition and Results of Operations\t41\nItem 3.\tQuantitative and Qualitative Disclosures About Market Risk\t63\nItem 4.\tControls and Procedures\t64\nPart II.\tOther Information\t64\nItem 1.\tLegal Proceedings\t64\nItem 1A.\tRisk Factors\t65\nItem 2.\tUnregistered Sales of Equity Securities and Use of Proceeds\t79\nItem 3.\tDefaults Upon Senior Securities\t79\nItem 4.\tMine Safety Disclosures\t79\nItem 5.\tOther Information\t79\nItem 6.\tExhibits\t80\n\tSignature\t82\n", "q10k_tbl_2": "\tJanuary 23 2021\tJuly 25 2020\nASSETS\t\t\nCurrent assets:\t\t\nCash and cash equivalents\t11793\t11809\nInvestments\t18795\t17610\nAccounts receivable net of allowance for doubtful accounts of $102 at January 23 2021 and $143 at July 25 2020\t4307\t5472\nInventories\t1436\t1282\nFinancing receivables net\t5027\t5051\nOther current assets\t2553\t2349\nTotal current assets\t43911\t43573\nProperty and equipment net\t2386\t2453\nFinancing receivables net\t5100\t5714\nGoodwill\t34733\t33806\nPurchased intangible assets net\t1462\t1576\nDeferred tax assets\t4109\t3990\nOther assets\t3900\t3741\nTOTAL ASSETS\t95601\t94853\nLIABILITIES AND EQUITY\t\t\nCurrent liabilities:\t\t\nShort-term debt\t5000\t3005\nAccounts payable\t1867\t2218\nIncome taxes payable\t763\t839\nAccrued compensation\t3295\t3122\nDeferred revenue\t11552\t11406\nOther current liabilities\t4791\t4741\nTotal current liabilities\t27268\t25331\nLong-term debt\t9554\t11578\nIncome taxes payable\t8084\t8837\nDeferred revenue\t9294\t9040\nOther long-term liabilities\t2280\t2147\nTotal liabilities\t56480\t56933\nCommitments and contingencies (Note 14)\t\t\nEquity:\t\t\nCisco shareholders' equity:\t\t\nPreferred stock no par value: 5 shares authorized; none issued and outstanding\t0\t0\nCommon stock and additional paid-in capital $0.001 par value: 20000 shares authorized; 4221 and 4237 shares issued and outstanding at January 23 2021 and July 25 2020 respectively\t41690\t41202\nAccumulated deficit\t(2351)\t(2763)\nAccumulated other comprehensive loss\t(218)\t(519)\nTotal equity\t39121\t37920\nTOTAL LIABILITIES AND EQUITY\t95601\t94853\n", "q10k_tbl_3": "\tThree Months Ended\t\tSix Months Ended\t\n\tJanuary 23 2021\tJanuary 25 2020\tJanuary 23 2021\tJanuary 25 2020\nREVENUE:\t\t\t\t\nProduct\t8572\t8671\t17159\t18549\nService\t3388\t3334\t6730\t6615\nTotal revenue\t11960\t12005\t23889\t25164\nCOST OF SALES:\t\t\t\t\nProduct\t3044\t3126\t6250\t6650\nService\t1132\t1115\t2274\t2286\nTotal cost of sales\t4176\t4241\t8524\t8936\nGROSS MARGIN\t7784\t7764\t15365\t16228\nOPERATING EXPENSES:\t\t\t\t\nResearch and development\t1527\t1570\t3139\t3236\nSales and marketing\t2277\t2279\t4494\t4759\nGeneral and administrative\t484\t455\t1028\t974\nAmortization of purchased intangible assets\t39\t38\t75\t74\nRestructuring and other charges\t234\t42\t836\t226\nTotal operating expenses\t4561\t4384\t9572\t9269\nOPERATING INCOME\t3223\t3380\t5793\t6959\nInterest income\t161\t242\t335\t515\nInterest expense\t(113)\t(158)\t(225)\t(336)\nOther income (loss) net\t(16)\t70\t33\t82\nInterest and other income (loss) net\t32\t154\t143\t261\nINCOME BEFORE PROVISION FOR INCOME TAXES\t3255\t3534\t5936\t7220\nProvision for income taxes\t710\t656\t1217\t1416\nNET INCOME\t2545\t2878\t4719\t5804\nNet income per share:\t\t\t\t\nBasic\t0.60\t0.68\t1.12\t1.37\nDiluted\t0.60\t0.68\t1.11\t1.36\nShares used in per-share calculation:\t\t\t\t\nBasic\t4223\t4242\t4227\t4244\nDiluted\t4234\t4260\t4239\t4265\n", "q10k_tbl_4": "\tThree Months Ended\t\tSix Months Ended\t\n\tJanuary 23 2021\tJanuary 25 2020\tJanuary 23 2021\tJanuary 25 2020\nNet income\t2545\t2878\t4719\t5804\nAvailable-for-sale investments:\t\t\t\t\nChange in net unrealized gains and losses net of tax benefit (expense) of $0 and $17 for the second quarter and first six months of fiscal 2021 respectively and $(15) and $(29) for the corresponding periods of fiscal 2020 respectively\t6\t66\t(18)\t139\nNet (gains) losses reclassified into earnings net of tax (benefit) expense of $2 and $7 for the second quarter and first six months of fiscal 2021 respectively and $7 and $12 for the corresponding periods of fiscal 2020 respectively\t(7)\t(4)\t(17)\t(9)\n\t(1)\t62\t(35)\t130\nCash flow hedging instruments:\t\t\t\t\nChange in unrealized gains and losses net of tax benefit (expense) of $1 for each of the second quarter and first six months of fiscal 2021 and $0 and $1 for the corresponding periods of fiscal 2020 respectively\t(2)\t1\t(4)\t1\nNet (gains) losses reclassified into earnings net of tax (benefit) expense of $0 and $1 for the second quarter and first six months of fiscal 2021 respectively and $0 for each of the corresponding periods of fiscal 2020\t(3)\t2\t(4)\t2\n\t(5)\t3\t(8)\t3\nNet change in cumulative translation adjustment and actuarial gains and losses net of tax benefit (expense) of $(2) and $(3) for the second quarter and first six months of fiscal 2021 respectively and $(1) for each of the corresponding periods of fiscal 2020\t235\t50\t344\t(41)\nOther comprehensive income\t229\t115\t301\t92\nComprehensive income\t2774\t2993\t5020\t5896\n", "q10k_tbl_5": "\tSix Months Ended\t\n\tJanuary 23 2021\tJanuary 25 2020\nCash flows from operating activities:\t\t\nNet income\t4719\t5804\nAdjustments to reconcile net income to net cash provided by operating activities:\t\t\nDepreciation amortization and other\t887\t918\nShare-based compensation expense\t874\t779\nProvision (benefit) for receivables\t(10)\t46\nDeferred income taxes\t(91)\t128\n(Gains) losses on divestitures investments and other net\t(86)\t(162)\nChange in operating assets and liabilities net of effects of acquisitions and divestitures:\t\t\nAccounts receivable\t1245\t1084\nInventories\t(145)\t25\nFinancing receivables\t748\t408\nOther assets\t(212)\t130\nAccounts payable\t(358)\t(126)\nIncome taxes net\t(836)\t(1007)\nAccrued compensation\t125\t(521)\nDeferred revenue\t226\t236\nOther liabilities\t(16)\t(355)\nNet cash provided by operating activities\t7070\t7387\nCash flows from investing activities:\t\t\nPurchases of investments\t(6025)\t(4250)\nProceeds from sales of investments\t1374\t3410\nProceeds from maturities of investments\t3373\t4044\nAcquisitions and divestitures\t(860)\t(163)\nPurchases of investments in privately held companies\t(95)\t(97)\nReturn of investments in privately held companies\t58\t91\nAcquisition of property and equipment\t(358)\t(391)\nProceeds from sales of property and equipment\t9\t131\nOther\t(4)\t(10)\nNet cash (used in) provided by investing activities\t(2528)\t2765\nCash flows from financing activities:\t\t\nIssuances of common stock\t306\t334\nRepurchases of common stock-repurchase program\t(1569)\t(1648)\nShares repurchased for tax withholdings on vesting of restricted stock units\t(317)\t(437)\nShort-term borrowings original maturities of 90 days or less net\t0\t(3470)\nRepayments of debt\t0\t(5220)\nDividends paid\t(3041)\t(2972)\nOther\t70\t(12)\nNet cash used in financing activities\t(4551)\t(13425)\nNet decrease in cash cash equivalents and restricted cash\t(9)\t(3273)\nCash cash equivalents and restricted cash beginning of period\t11812\t11772\nCash cash equivalents and restricted cash end of period\t11803\t8499\nSupplemental cash flow information:\t\t\nCash paid for interest\t220\t349\nCash paid for income taxes net\t2142\t2295\n", "q10k_tbl_6": "Three Months Ended January 23 2021\tShares of Common Stock\tCommon Stock and Additional Paid-In Capital\tAccumulated Deficit\tAccumulated Other Comprehensive Loss\tTotal Equity\nBalance at October 24 2020\t4222\t41360\t(2756)\t(447)\t38157\nNet income\t\t\t2545\t\t2545\nOther comprehensive income\t\t\t\t229\t229\nIssuance of common stock\t24\t305\t\t\t305\nRepurchase of common stock\t(19)\t(183)\t(618)\t\t(801)\nShares repurchased for tax withholdings on vesting of restricted stock units\t(6)\t(228)\t\t\t(228)\nCash dividends declared ($0.36 per common share)\t\t\t(1522)\t\t(1522)\nShare-based compensation\t\t436\t\t\t436\nBalance at January 23 2021\t4221\t41690\t(2351)\t(218)\t39121\n", "q10k_tbl_7": "Six Months Ended January 23 2021\tShares of Common Stock\tCommon Stock and Additional Paid-In Capital\tAccumulated Deficit\tAccumulated Other Comprehensive Loss\tTotal Equity\nBalance at July 25 2020\t4237\t41202\t(2763)\t(519)\t37920\nNet income\t\t\t4719\t\t4719\nOther comprehensive income\t\t\t\t301\t301\nIssuance of common stock\t31\t306\t\t\t306\nRepurchase of common stock\t(39)\t(375)\t(1226)\t\t(1601)\nShares repurchased for tax withholdings on vesting of restricted stock units\t(8)\t(317)\t\t\t(317)\nCash dividends declared ($0.72 per common share)\t\t\t(3043)\t\t(3043)\nEffect of adoption of accounting standard\t\t\t(38)\t\t(38)\nShare-based compensation\t\t874\t\t\t874\nBalance at January 23 2021\t4221\t41690\t(2351)\t(218)\t39121\n", "q10k_tbl_8": "Three Months Ended January 25 2020\tShares of Common Stock\tCommon Stock and Additional Paid-In Capital\tAccumulated Deficit\tAccumulated Other Comprehensive Loss\tTotal Equity\nBalance at October 26 2019\t4241\t40321\t(5083)\t(815)\t34423\nNet income\t\t\t2878\t\t2878\nOther comprehensive income\t\t\t\t115\t115\nIssuance of common stock\t23\t332\t\t\t332\nRepurchase of common stock\t(18)\t(177)\t(693)\t\t(870)\nShares repurchased for tax withholdings on vesting of restricted stock units\t(5)\t(243)\t\t\t(243)\nCash dividends declared ($0.35 per common share)\t\t\t(1486)\t\t(1486)\nShare-based compensation\t\t384\t\t\t384\nBalance at January 25 2020\t4241\t40617\t(4384)\t(700)\t35533\n", "q10k_tbl_9": "Six Months Ended January 25 2020\tShares of Common Stock\tCommon Stock and Additional Paid-In Capital\tAccumulated Deficit\tAccumulated Other Comprehensive Loss\tTotal Equity\nBalance at July 27 2019\t4250\t40266\t(5903)\t(792)\t33571\nNet income\t\t\t5804\t\t5804\nOther comprehensive income\t\t\t\t92\t92\nIssuance of common stock\t34\t334\t\t\t334\nRepurchase of common stock\t(34)\t(325)\t(1313)\t\t(1638)\nShares repurchased for tax withholdings on vesting of restricted stock units\t(9)\t(437)\t\t\t(437)\nCash dividends declared ($0.70 per common share)\t\t\t(2972)\t\t(2972)\nShare-based compensation\t\t779\t\t\t779\nBalance at January 25 2020\t4241\t40617\t(4384)\t(700)\t35533\n", "q10k_tbl_10": "\tThree Months Ended\t\tSix Months Ended\t\n\tJanuary 23 2021\tJanuary 25 2020\tJanuary 23 2021\tJanuary 25 2020\nRevenue:\t\t\t\t\nInfrastructure Platforms\t6391\t6567\t12732\t14120\nApplications\t1354\t1349\t2734\t2847\nSecurity\t822\t749\t1684\t1565\nOther Products\t4\t7\t9\t17\nTotal Product\t8572\t8671\t17159\t18549\nServices\t3388\t3334\t6730\t6615\nTotal\t11960\t12005\t23889\t25164\n", "q10k_tbl_11": "\tJanuary 23 2021\n1 to 4\t426\n5 to 6\t783\n7 and Higher\t98\nTotal\t1307\n", "q10k_tbl_12": "\tBalance at July 25 2020\tAcquisitions & Divestitures\tForeign Currency Translation and Other\tBalance at January 23 2021\nAmericas\t21304\t415\t135\t21854\nEMEA\t8040\t198\t51\t8289\nAPJC\t4462\t100\t28\t4590\nTotal\t33806\t713\t214\t34733\n", "q10k_tbl_13": "January 23 2021\tGross\tAccumulated Amortization\tNet\nPurchased intangible assets with finite lives:\t\t\t\nTechnology\t2625\t(1700)\t925\nCustomer relationships\t773\t(404)\t369\nOther\t13\t(5)\t8\nTotal purchased intangible assets with finite lives\t3411\t(2109)\t1302\nIn-process research and development with indefinite lives\t160\t0\t160\nTotal\t3571\t(2109)\t1462\n", "q10k_tbl_14": "July 25 2020\tGross\tAccumulated Amortization\tNet\nPurchased intangible assets with finite lives:\t\t\t\nTechnology\t3298\t(2336)\t962\nCustomer relationships\t760\t(365)\t395\nOther\t26\t(20)\t6\nTotal purchased intangible assets with finite lives\t4084\t(2721)\t1363\nIn-process research and development with indefinite lives\t213\t0\t213\nTotal\t4297\t(2721)\t1576\n", "q10k_tbl_15": "\tThree Months Ended\t\tSix Months Ended\t\n\tJanuary 23 2021\tJanuary 25 2020\tJanuary 23 2021\tJanuary 25 2020\nAmortization of purchased intangible assets:\t\t\t\t\nCost of sales\t156\t165\t326\t331\nOperating expenses\t39\t38\t75\t74\nTotal\t195\t203\t401\t405\n", "q10k_tbl_16": "Fiscal Year\tAmount\n2021 (remaining six months)\t311\n2022\t453\n2023\t308\n2024\t188\n2025\t31\nThereafter\t11\n", "q10k_tbl_17": "\tFISCAL 2020 AND PRIOR PLANS\t\tFISCAL 2021 PLAN\t\t\n\tEmployee Severance\tOther\tEmployee Severance\tOther\tTotal\nLiability as of July 25 2020\t58\t14\t0\t0\t72\nCharges\t0\t2\t804\t30\t836\nCash payments\t(58)\t(3)\t(703)\t(3)\t(767)\nNon-cash items\t0\t0\t0\t(21)\t(21)\nLiability as of January 23 2021\t0\t13\t101\t6\t120\n", "q10k_tbl_18": "\tFISCAL 2018 AND PRIOR PLANS\t\t\n\tEmployee Severance\tOther\tTotal\nLiability as of July 27 2019\t22\t11\t33\nCharges\t209\t17\t226\nCash payments\t(202)\t(1)\t(203)\nNon-cash items\t0\t(23)\t(23)\nLiability as of January 25 2020\t29\t4\t33\n", "q10k_tbl_19": "\tJanuary 23 2021\tJuly 25 2020\nCash and cash equivalents\t11793\t11809\nRestricted cash included in other current assets\t7\t0\nRestricted cash included in other assets\t3\t3\nTotal cash cash equivalents and restricted cash\t11803\t11812\n", "q10k_tbl_20": "Inventories:\t\t\nRaw materials\t527\t456\nWork in process\t30\t25\nFinished goods:\t\t\nDeferred cost of sales\t74\t59\nManufactured finished goods\t600\t542\nTotal finished goods\t674\t601\nService-related spares\t191\t184\nDemonstration systems\t14\t16\nTotal\t1436\t1282\n", "q10k_tbl_21": "Property and equipment net:\t\t\nGross property and equipment:\t\t\nLand buildings and building and leasehold improvements\t4291\t4252\nComputer equipment and related software\t864\t875\nProduction engineering and other equipment\t5193\t5163\nOperating lease assets\t343\t337\nFurniture fixtures and other\t375\t387\nTotal gross property and equipment\t11066\t11014\nLess: accumulated depreciation and amortization\t(8680)\t(8561)\nTotal\t2386\t2453\n", "q10k_tbl_22": "Deferred revenue:\t\t\nProduct\t8332\t7895\nService\t12514\t12551\nTotal\t20846\t20446\nReported as:\t\t\nCurrent\t11552\t11406\nNoncurrent\t9294\t9040\nTotal\t20846\t20446\n", "q10k_tbl_23": "Remaining Performance Obligations:\t\t\nProduct\t11666\t11261\nService\t16512\t17093\nTotal\t28178\t28354\n", "q10k_tbl_24": "\tBalance Sheet Line Item\tJanuary 23 2021\tJuly 25 2020\nOperating lease right-of-use assets\tOther assets\t974\t921\nOperating lease liabilities\tOther current liabilities\t366\t341\nOperating lease liabilities\tOther long-term liabilities\t688\t661\nTotal operating lease liabilities\t\t1054\t1002\n", "q10k_tbl_25": "\tThree Months Ended\t\tSix Months Ended\t\n\tJanuary 23 2021\tJanuary 25 2020\tJanuary 23 2021\tJanuary 25 2020\nOperating lease expense\t103\t101\t201\t214\nShort-term lease expense\t17\t16\t35\t33\nVariable lease expense\t43\t39\t89\t79\nTotal lease expense\t163\t156\t325\t326\n", "q10k_tbl_26": "\tSix Months Ended\t\n\tJanuary 23 2021\tJanuary 25 2020\nCash paid for amounts included in the measurement of lease liabilities - operating cash flows\t201\t206\nRight-of-use assets obtained in exchange for operating leases liabilities\t218\t77\n", "q10k_tbl_27": "Fiscal Year\tAmount\n2021 (remaining six months)\t193\n2022\t304\n2023\t232\n2024\t151\n2025\t92\nThereafter\t104\nTotal lease payments\t1076\nLess interest\t(22)\nTotal\t1054\n", "q10k_tbl_28": "Fiscal Year\tAmount\n2021 (remaining six months)\t330\n2022\t685\n2023\t455\n2024\t237\n2025\t130\nThereafter\t28\nTotal\t1865\nLess: Present value of lease payments\t1768\nUnearned income\t97\n", "q10k_tbl_29": "\tJanuary 23 2021\tJuly 25 2020\nOperating lease assets\t343\t337\nAccumulated depreciation\t(201)\t(198)\nOperating lease assets net\t142\t139\n", "q10k_tbl_30": "Fiscal Year\tAmount\n2021 (remaining six months)\t38\n2022\t44\n2023\t20\n2024\t4\nTotal\t106\n", "q10k_tbl_31": "January 23 2021\tLease Receivables\tLoan Receivables\tFinanced Service Contracts\tTotal\nGross\t1865\t5817\t2575\t10257\nResidual value\t115\t0\t0\t115\nUnearned income\t(97)\t0\t0\t(97)\nAllowance for credit loss\t(43)\t(96)\t(9)\t(148)\nTotal net\t1840\t5721\t2566\t10127\nReported as:\t\t\t\t\nCurrent\t868\t2746\t1413\t5027\nNoncurrent\t972\t2975\t1153\t5100\nTotal net\t1840\t5721\t2566\t10127\n", "q10k_tbl_32": "July 25 2020\tLease Receivables\tLoan Receivables\tFinanced Service Contracts\tTotal\nGross\t2127\t5937\t2830\t10894\nResidual value\t123\t0\t0\t123\nUnearned income\t(114)\t0\t0\t(114)\nAllowance for credit loss\t(48)\t(81)\t(9)\t(138)\nTotal net\t2088\t5856\t2821\t10765\nReported as:\t\t\t\t\nCurrent\t918\t2692\t1441\t5051\nNoncurrent\t1170\t3164\t1380\t5714\nTotal net\t2088\t5856\t2821\t10765\n", "q10k_tbl_33": "\t\tFiscal Year\t\t\t\tSix Months Ended\t\nInternal Credit Risk Rating\tPrior\tJuly 29 2017\tJuly 28 2018\tJuly 27 2019\tJuly 25 2020\tJanuary 23 2021\tTotal\nLease Receivables:\t\t\t\t\t\t\t\n1 to 4\t10\t49\t153\t248\t331\t16\t807\n5 to 6\t15\t48\t121\t270\t360\t98\t912\n7 and Higher\t3\t2\t6\t14\t20\t4\t49\nTotal Lease Receivables\t28\t99\t280\t532\t711\t118\t1768\nLoan Receivables:\t\t\t\t\t\t\t\n1 to 4\t16\t141\t387\t774\t1302\t1053\t3673\n5 to 6\t5\t60\t145\t362\t745\t672\t1989\n7 and Higher\t2\t3\t8\t65\t58\t19\t155\nTotal Loan Receivables\t23\t204\t540\t1201\t2105\t1744\t5817\nFinanced Service Contracts:\t\t\t\t\t\t\t\n1 to 4\t2\t49\t51\t213\t455\t742\t1512\n5 to 6\t1\t21\t57\t235\t412\t305\t1031\n7 and Higher\t0\t0\t2\t15\t12\t3\t32\nTotal Financed Service Contracts\t3\t70\t110\t463\t879\t1050\t2575\nTotal\t54\t373\t930\t2196\t3695\t2912\t10160\n", "q10k_tbl_34": "\tINTERNAL CREDIT RISK RATING\t\t\t\nJuly 25 2020\t1 to 4\t5 to 6\t7 and Higher\tTotal\nLease receivables\t992\t952\t69\t2013\nLoan receivables\t3808\t1961\t168\t5937\nFinanced service contracts\t1645\t1153\t32\t2830\nTotal\t6445\t4066\t269\t10780\n", "q10k_tbl_35": "\tDAYS PAST DUE (INCLUDES BILLED AND UNBILLED)\t\t\t\t\t\t\t\t\nJanuary 23 2021\t31-60\t61-90\t91+\tTotal Past Due\tCurrent\tTotal\t120+ Still Accruing\tNonaccrual Financing Receivables\tImpaired Financing Receivables\nLease receivables\t68\t13\t83\t164\t1604\t1768\t2\t33\t33\nLoan receivables\t109\t30\t73\t212\t5605\t5817\t15\t50\t50\nFinanced service contracts\t40\t11\t101\t152\t2423\t2575\t31\t4\t4\nTotal\t217\t54\t257\t528\t9632\t10160\t48\t87\t87\n", "q10k_tbl_36": "\tDAYS PAST DUE (INCLUDES BILLED AND UNBILLED)\t\t\t\t\t\t\t\nJuly 25 2020\t31-60\t61-90\t91+\tTotal Past Due\tCurrent\tTotal\tNonaccrual Financing Receivables\tImpaired Financing Receivables\nLease receivables\t29\t47\t48\t124\t1889\t2013\t43\t43\nLoan receivables\t129\t78\t78\t285\t5652\t5937\t65\t65\nFinanced service contracts\t69\t75\t124\t268\t2562\t2830\t4\t4\nTotal\t227\t200\t250\t677\t10103\t10780\t112\t112\n", "q10k_tbl_37": "Three months ended January 23 2021\tCREDIT LOSS ALLOWANCES\t\t\t\n\tLease Receivables\tLoan Receivables\tFinanced Service Contracts\tTotal\nAllowance for credit loss as of October 24 2020\t46\t101\t7\t154\nProvisions (benefits)\t(4)\t(6)\t2\t(8)\nOther\t1\t1\t0\t2\nAllowance for credit loss as of January 23 2021\t43\t96\t9\t148\n", "q10k_tbl_38": "Six months ended January 23 2021\tCREDIT LOSS ALLOWANCES\t\t\t\n\tLease Receivables\tLoan Receivables\tFinanced Service Contracts\tTotal\nAllowance for credit loss as of July 25 2020\t48\t81\t9\t138\nProvisions (benefits)\t(7)\t(3)\t1\t(9)\nOther\t2\t18\t(1)\t19\nAllowance for credit loss as of January 23 2021\t43\t96\t9\t148\n", "q10k_tbl_39": "Three months ended January 25 2020\tCREDIT LOSS ALLOWANCES\t\t\t\n\tLease Receivables\tLoan Receivables\tFinanced Service Contracts\tTotal\nAllowance for credit loss as of October 26 2019\t43\t81\t9\t133\nProvisions (benefits)\t(1)\t15\t0\t14\nRecoveries (write-offs) net\t(1)\t(1)\t0\t(2)\nForeign exchange and other\t1\t0\t(1)\t0\nAllowance for credit loss as of January 25 2020\t42\t95\t8\t145\n", "q10k_tbl_40": "Six months ended January 25 2020\tCREDIT LOSS ALLOWANCES\t\t\t\n\tLease Receivables\tLoan Receivables\tFinanced Service Contracts\tTotal\nAllowance for credit loss as of July 27 2019\t46\t71\t9\t126\nProvisions (benefits)\t(4)\t42\t0\t38\nRecoveries (write-offs) net\t(1)\t(17)\t0\t(18)\nForeign exchange and other\t1\t(1)\t(1)\t(1)\nAllowance for credit loss as of January 25 2020\t42\t95\t8\t145\n", "q10k_tbl_41": "January 23 2021\tAmortized Cost\tGross Unrealized Gains\tGross Unrealized and Credit Losses\tFair Value\nU.S. government securities\t2613\t50\t0\t2663\nU.S. government agency securities\t168\t0\t0\t168\nCorporate debt securities\t10516\t296\t(26)\t10786\nU.S. agency mortgage-backed securities\t2796\t47\t(3)\t2840\nCommercial paper\t1730\t0\t0\t1730\nCertificates of deposit\t603\t0\t0\t603\nTotal (1)\t18426\t393\t(29)\t18790\n", "q10k_tbl_42": "July 25 2020\tAmortized Cost\tGross Unrealized Gains\tGross Unrealized Losses\tFair Value\nU.S. government securities\t2614\t71\t0\t2685\nU.S. government agency securities\t110\t0\t0\t110\nCorporate debt securities\t11549\t334\t(6)\t11877\nU.S. agency mortgage-backed securities\t1987\t49\t(1)\t2035\nCommercial paper\t727\t0\t0\t727\nCertificates of deposit\t176\t0\t0\t176\nTotal\t17163\t454\t(7)\t17610\n", "q10k_tbl_43": "\tThree Months Ended\t\tSix Months Ended\t\n\tJanuary 23 2021\tJanuary 25 2020\tJanuary 23 2021\tJanuary 25 2020\nGross realized gains\t9\t13\t24\t25\nGross realized losses\t0\t(2)\t0\t(4)\nTotal\t9\t11\t24\t21\n", "q10k_tbl_44": "\tUNREALIZED LOSSES LESS THAN 12 MONTHS\t\tUNREALIZED LOSSES 12 MONTHS OR GREATER\t\tTOTAL\t\nJanuary 23 2021\tFair Value\tGross Unrealized Losses\tFair Value\tGross Unrealized Losses\tFair Value\tGross Unrealized Losses\nU.S. government securities\t109\t0\t0\t0\t109\t0\nU.S. government agency securities\t36\t0\t0\t0\t36\t0\nCorporate debt securities\t663\t(1)\t0\t0\t663\t(1)\nU.S. agency mortgage-backed securities\t698\t(3)\t0\t0\t698\t(3)\nCertificates of deposit\t15\t0\t0\t0\t15\t0\nTotal\t1521\t(4)\t0\t0\t1521\t(4)\n", "q10k_tbl_45": "\tUNREALIZED LOSSES LESS THAN 12 MONTHS\t\tUNREALIZED LOSSES 12 MONTHS OR GREATER\t\tTOTAL\t\nJuly 25 2020\tFair Value\tGross Unrealized Losses\tFair Value\tGross Unrealized Losses\tFair Value\tGross Unrealized Losses\nU.S. government agency securities\t33\t0\t0\t0\t33\t0\nCorporate debt securities\t1060\t(6)\t3\t0\t1063\t(6)\nU.S. agency mortgage-backed securities\t265\t(1)\t0\t0\t265\t(1)\nTotal\t1358\t(7)\t3\t0\t1361\t(7)\n", "q10k_tbl_46": "\tAmortized Cost\tFair Value\nWithin 1 year\t6674\t6679\nAfter 1 year through 5 years\t7035\t7201\nAfter 5 years through 10 years\t1913\t2060\nAfter 10 years\t8\t10\nMortgage-backed securities with no single maturity\t2796\t2840\nTotal\t18426\t18790\n", "q10k_tbl_47": "\tJANUARY 23 2021\t\t\t\tJULY 25 2020\t\t\t\n\tFAIR VALUE MEASUREMENTS\t\t\t\tFAIR VALUE MEASUREMENTS\t\t\t\n\tLevel 1\tLevel 2\tLevel 3\tTotal Balance\tLevel 1\tLevel 2\tLevel 3\tTotal Balance\nAssets:\t\t\t\t\t\t\t\t\nCash equivalents:\t\t\t\t\t\t\t\t\nMoney market funds\t8515\t0\t0\t8515\t10024\t0\t0\t10024\nCorporate debt securities\t0\t9\t0\t9\t0\t8\t0\t8\nCertificates of deposit\t0\t161\t0\t161\t0\t0\t0\t0\nCommercial paper\t0\t902\t0\t902\t0\t0\t0\t0\nAvailable-for-sale debt investments:\t\t\t\t\t\t\t\t\nU.S. government securities\t0\t2663\t0\t2663\t0\t2685\t0\t2685\nU.S. government agency securities\t0\t168\t0\t168\t0\t110\t0\t110\nCorporate debt securities\t0\t10786\t0\t10786\t0\t11877\t0\t11877\nU.S. agency mortgage-backed securities\t0\t2840\t0\t2840\t0\t2035\t0\t2035\nCommercial paper\t0\t1730\t0\t1730\t0\t727\t0\t727\nCertificates of deposit\t0\t603\t0\t603\t0\t176\t0\t176\nEquity investments:\t\t\t\t\t\t\t\t\nMarketable equity securities\t5\t0\t0\t5\t0\t0\t0\t0\nAssets:\t\t\t\t\t\t\t\t\nDerivative assets\t0\t165\t6\t171\t0\t190\t1\t191\nTotal\t8520\t20027\t6\t28553\t10024\t17808\t1\t27833\nLiabilities:\t\t\t\t\t\t\t\t\nDerivative liabilities\t0\t26\t0\t26\t0\t10\t0\t10\nTotal\t0\t26\t0\t26\t0\t10\t0\t10\n", "q10k_tbl_48": "\tJanuary 23 2021\t\tJuly 25 2020\t\n\tAmount\tEffective Rate\tAmount\tEffective Rate\nCurrent portion of long-term debt\t5000\t2.00%\t3005\t2.07%\n", "q10k_tbl_49": "\t\tJanuary 23 2021\t\tJuly 25 2020\t\n\tMaturity Date\tAmount\tEffective Rate\tAmount\tEffective Rate\nSenior notes:\t\t\t\t\t\nFixed-rate notes:\t\t\t\t\t\n2.20%\tFebruary 28 2021\t2500\t2.30%\t2500\t2.30%\n2.90%\tMarch 4 2021\t500\t0.92%\t500\t0.94%\n1.85%\tSeptember 20 2021\t2000\t1.90%\t2000\t1.90%\n3.00%\tJune 15 2022\t500\t1.17%\t500\t1.21%\n2.60%\tFebruary 28 2023\t500\t2.68%\t500\t2.68%\n2.20%\tSeptember 20 2023\t750\t2.27%\t750\t2.27%\n3.625%\tMarch 4 2024\t1000\t1.04%\t1000\t1.06%\n3.50%\tJune 15 2025\t500\t1.33%\t500\t1.37%\n2.95%\tFebruary 28 2026\t750\t3.01%\t750\t3.01%\n2.50%\tSeptember 20 2026\t1500\t2.55%\t1500\t2.55%\n5.90%\tFebruary 15 2039\t2000\t6.11%\t2000\t6.11%\n5.50%\tJanuary 15 2040\t2000\t5.67%\t2000\t5.67%\nTotal\t\t14500\t\t14500\t\nUnaccreted discount/issuance costs\t\t(84)\t\t(88)\t\nHedge accounting fair value adjustments\t\t138\t\t171\t\nTotal\t\t14554\t\t14583\t\nReported as:\t\t\t\t\t\nCurrent portion of long-term debt\t\t5000\t\t3005\t\nLong-term debt\t\t9554\t\t11578\t\nTotal\t\t14554\t\t14583\t\n", "q10k_tbl_50": "Fiscal Year\tAmount\n2021 (remaining six months)\t3000\n2022\t2500\n2023\t500\n2024\t1750\n2025\t500\nThereafter\t6250\nTotal\t14500\n", "q10k_tbl_51": "\tDERIVATIVE ASSETS\t\t\tDERIVATIVE LIABILITIES\t\t\n\tBalance Sheet Line Item\tJanuary 23 2021\tJuly 25 2020\tBalance Sheet Line Item\tJanuary 23 2021\tJuly 25 2020\nDerivatives designated as hedging instruments:\t\t\t\t\t\t\nForeign currency derivatives\tOther current assets\t7\t7\tOther current liabilities\t14\t2\nInterest rate derivatives\tOther current assets\t1\t6\tOther current liabilities\t0\t0\nInterest rate derivatives\tOther assets\t140\t169\tOther long-term liabilities\t0\t0\nTotal\t\t148\t182\t\t14\t2\nDerivatives not designated as hedging instruments:\t\t\t\t\t\t\nForeign currency derivatives\tOther current assets\t17\t8\tOther current liabilities\t12\t8\nEquity derivatives\tOther assets\t6\t1\tOther long-term liabilities\t0\t0\nTotal\t\t23\t9\t\t12\t8\nTotal\t\t171\t191\t\t26\t10\n", "q10k_tbl_52": "\tCARRYING AMOUNT OF THE HEDGED ASSETS/(LIABILITIES)\t\tCUMULATIVE AMOUNT OF FAIR VALUE HEDGING ADJUSTMENT INCLUDED IN THE CARRYING AMOUNT OF THE HEDGED ASSETS/LIABILITIES\t\nBalance Sheet Line Item of Hedged Item\tJanuary 23 2021\tJuly 25 2020\tJanuary 23 2021\tJuly 25 2020\nShort-term debt\t(501)\t(506)\t(1)\t(6)\nLong-term debt\t(2132)\t(2159)\t(137)\t(165)\n", "q10k_tbl_53": "\tThree Months Ended\t\tSix Months Ended\t\n\tJanuary 23 2021\tJanuary 25 2020\tJanuary 23 2021\tJanuary 25 2020\nInterest rate derivatives:\t\t\t\t\nHedged items\t14\t7\t33\t(14)\nDerivatives designated as hedging instruments\t(14)\t(6)\t(34)\t16\nTotal\t0\t1\t(1)\t2\n", "q10k_tbl_54": "\t\tGAINS (LOSSES) FOR THE THREE MONTHS ENDED\t\tGAINS (LOSSES) FOR THE SIX MONTHS ENDED\t\nDerivatives Not Designated as Hedging Instruments\tLine Item in Statements of Operations\tJanuary 23 2021\tJanuary 25 2020\tJanuary 23 2021\tJanuary 25 2020\nForeign currency derivatives\tOther income (loss) net\t33\t(2)\t47\t(9)\nTotal return swaps-deferred compensation\tOperating expenses and other\t76\t41\t99\t41\nEquity derivatives\tOther income (loss) net\t9\t3\t14\t5\nTotal\t\t118\t42\t160\t37\n", "q10k_tbl_55": "\tJanuary 23 2021\tJuly 25 2020\nForeign currency derivatives\t4839\t4315\nInterest rate derivatives\t2500\t2500\nTotal return swaps-deferred compensation\t689\t580\nTotal\t8028\t7395\n", "q10k_tbl_56": "\tThree Months Ended\t\tSix Months Ended\t\n\tJanuary 23 2021\tJanuary 25 2020\tJanuary 23 2021\tJanuary 25 2020\nCompensation expense related to acquisitions\t59\t50\t116\t111\n", "q10k_tbl_57": "\tSix Months Ended\t\n\tJanuary 23 2021\tJanuary 25 2020\nBalance at beginning of period\t331\t342\nProvisions for warranties issued\t247\t283\nAdjustments for pre-existing warranties\t4\t(3)\nSettlements\t(249)\t(291)\nBalance at end of period\t333\t331\n", "q10k_tbl_58": "\tJanuary 23 2021\tJuly 25 2020\nMaximum potential future payments relating to financing guarantees:\t\t\nChannel partner\t205\t198\nEnd user\t8\t9\nTotal\t213\t207\nDeferred revenue associated with financing guarantees:\t\t\nChannel partner\t(19)\t(19)\nEnd user\t(8)\t(9)\nTotal\t(27)\t(28)\nTotal\t186\t179\n", "q10k_tbl_59": "Quarter Ended\tShares\tWeighted-Average Price per Share\tAmount\nFiscal 2021\t\t\t\nJanuary 23 2021\t19\t42.82\t801\nOctober 24 2020\t20\t40.44\t800\nFiscal 2020\t\t\t\nJuly 25 2020\t0\t0\t0\nApril 25 2020\t25\t39.71\t981\nJanuary 25 2020\t18\t46.71\t870\nOctober 26 2019\t16\t48.91\t768\n", "q10k_tbl_60": "\tThree Months Ended\t\tSix Months Ended\t\n\tJanuary 23 2021\tJanuary 25 2020\tJanuary 23 2021\tJanuary 25 2020\nCost of sales-product\t25\t23\t49\t46\nCost of sales-service\t43\t36\t84\t70\nShare-based compensation expense in cost of sales\t68\t59\t133\t116\nResearch and development\t171\t146\t338\t292\nSales and marketing\t128\t119\t262\t246\nGeneral and administrative\t59\t55\t120\t115\nRestructuring and other charges\t10\t5\t21\t13\nShare-based compensation expense in operating expenses\t368\t325\t741\t666\nTotal share-based compensation expense\t436\t384\t874\t782\nIncome tax benefit for share-based compensation\t95\t109\t176\t240\n", "q10k_tbl_61": "\tRestricted Stock/ Stock Units\tWeighted-Average Grant Date Fair Value per Share\tAggregate Fair Value\nUnvested balance at July 27 2019\t100\t38.66\t\nGranted and assumed\t49\t42.61\t\nVested\t(44)\t35.20\t2045\nCanceled/forfeited/other\t(9)\t40.45\t\nUnvested balance at July 25 2020\t96\t42.03\t\nGranted and assumed\t33\t37.90\t\nVested\t(21)\t39.05\t908\nCanceled/forfeited/other\t(9)\t41.63\t\nUnvested balance at January 23 2021\t99\t41.35\t\n", "q10k_tbl_62": "\tNet Unrealized Gains (Losses) on Available-for-Sale Investments\tNet Unrealized Gains (Losses) Cash Flow Hedging Instruments\tCumulative Translation Adjustment and Actuarial Gains (Losses)\tAccumulated Other Comprehensive Income (Loss)\nBalance at July 25 2020\t315\t(6)\t(828)\t(519)\nOther comprehensive income (loss) before reclassifications\t(35)\t(5)\t345\t305\n(Gains) losses reclassified out of AOCI\t(24)\t(5)\t2\t(27)\nTax benefit (expense)\t24\t2\t(3)\t23\nBalance at January 23 2021\t280\t(14)\t(484)\t(218)\n", "q10k_tbl_63": "\tNet Unrealized Gains (Losses) on Available-for-Sale Investments\tNet Unrealized Gains (Losses) Cash Flow Hedging Instruments\tCumulative Translation Adjustment and Actuarial Gains (Losses)\tAccumulated Other Comprehensive Income (Loss)\nBalance at July 27 2019\t0\t(14)\t(778)\t(792)\nOther comprehensive income (loss) before reclassifications\t168\t0\t(42)\t126\n(Gains) losses reclassified out of AOCI\t(21)\t2\t2\t(17)\nTax benefit (expense)\t(17)\t1\t(1)\t(17)\nBalance at January 25 2020\t130\t(11)\t(819)\t(700)\n", "q10k_tbl_64": "\tThree Months Ended\t\tSix Months Ended\t\n\tJanuary 23 2021\tJanuary 25 2020\tJanuary 23 2021\tJanuary 25 2020\nIncome before provision for income taxes\t3255\t3534\t5936\t7220\nProvision for income taxes\t710\t656\t1217\t1416\nEffective tax rate\t21.8%\t18.6%\t20.5%\t19.6%\n", "q10k_tbl_65": "\tThree Months Ended\t\tSix Months Ended\t\n\tJanuary 23 2021\tJanuary 25 2020\tJanuary 23 2021\tJanuary 25 2020\nRevenue:\t\t\t\t\nAmericas\t6969\t7013\t14168\t14990\nEMEA\t3207\t3134\t6171\t6417\nAPJC\t1784\t1859\t3551\t3758\nTotal\t11960\t12005\t23889\t25164\nGross margin:\t\t\t\t\nAmericas\t4705\t4692\t9552\t10008\nEMEA\t2145\t2062\t4038\t4229\nAPJC\t1155\t1219\t2268\t2413\nSegment total\t8005\t7974\t15858\t16650\nUnallocated corporate items\t(221)\t(210)\t(493)\t(422)\nTotal\t7784\t7764\t15365\t16228\n", "q10k_tbl_66": "\tThree Months Ended\t\tSix Months Ended\t\n\tJanuary 23 2021\tJanuary 25 2020\tJanuary 23 2021\tJanuary 25 2020\nRevenue:\t\t\t\t\nInfrastructure Platforms\t6391\t6567\t12732\t14120\nApplications\t1354\t1349\t2734\t2847\nSecurity\t822\t749\t1684\t1565\nOther Products\t4\t7\t9\t17\nTotal Product\t8572\t8671\t17159\t18549\nServices\t3388\t3334\t6730\t6615\nTotal\t11960\t12005\t23889\t25164\n", "q10k_tbl_67": "\tThree Months Ended\t\tSix Months Ended\t\n\tJanuary 23 2021\tJanuary 25 2020\tJanuary 23 2021\tJanuary 25 2020\nNet income\t2545\t2878\t4719\t5804\nWeighted-average shares-basic\t4223\t4242\t4227\t4244\nEffect of dilutive potential common shares\t11\t18\t12\t21\nWeighted-average shares-diluted\t4234\t4260\t4239\t4265\nNet income per share-basic\t0.60\t0.68\t1.12\t1.37\nNet income per share-diluted\t0.60\t0.68\t1.11\t1.36\nAntidilutive employee share-based awards excluded\t49\t29\t56\t32\n", "q10k_tbl_68": "\tThree Months Ended\t\t\t\tSix Months Ended\t\t\t\n\tJanuary 23 2021\tJanuary 25 2020\t% Variance\t\tJanuary 23 2021\tJanuary 25 2020\t% Variance\t\nRevenue\t11960\t12005\t-%\t\t23889\t25164\t(5)%\t\nGross margin percentage\t65.1%\t64.7%\t0.4\tpts\t64.3%\t64.5%\t(0.2)\tpts\nResearch and development\t1527\t1570\t(3)%\t\t3139\t3236\t(3)%\t\nSales and marketing\t2277\t2279\t-%\t\t4494\t4759\t(6)%\t\nGeneral and administrative\t484\t455\t6%\t\t1028\t974\t6%\t\nTotal research and development sales and marketing general and administrative\t4288\t4304\t-%\t\t8661\t8969\t(3)%\t\nTotal as a percentage of revenue\t35.9%\t35.9%\t0\tpts\t36.3%\t35.6%\t0.7\tpts\nAmortization of purchased intangible assets included in operating expenses\t39\t38\t3%\t\t75\t74\t1%\t\nRestructuring and other charges included in operating expenses\t234\t42\t457%\t\t836\t226\t270%\t\nOperating income as a percentage of revenue\t26.9%\t28.2%\t(1.3)\tpts\t24.2%\t27.7%\t(3.5)\tpts\nInterest and other income (loss) net\t32\t154\t(79)%\t\t143\t261\t(45)%\t\nIncome tax percentage\t21.8%\t18.6%\t3.2\tpts\t20.5%\t19.6%\t0.9\tpts\nNet income\t2545\t2878\t(12)%\t\t4719\t5804\t(19)%\t\nNet income as a percentage of revenue\t21.3%\t24.0%\t(2.7)\tpts\t19.8%\t23.1%\t(3.3)\tpts\nEarnings per share-diluted\t0.60\t0.68\t(12)%\t\t1.11\t1.36\t(18)%\t\n", "q10k_tbl_69": "\tJanuary 23 2021\tJuly 25 2020\nCash and cash equivalents and investments\t30588\t29419\nDeferred revenue\t20846\t20446\nInventories\t1436\t1282\n", "q10k_tbl_70": "\tSix Months Ended\t\n\tJanuary 23 2021\tJanuary 25 2020\nCash provided by operating activities\t7070\t7387\nRepurchases of common stock-stock repurchase program\t1601\t1638\nDividends paid\t3041\t2972\n", "q10k_tbl_71": "\tThree Months Ended\t\t\t\tSix Months Ended\t\t\t\n\tJanuary 23 2021\tJanuary 25 2020\tVariance in Dollars\tVariance in Percent\tJanuary 23 2021\tJanuary 25 2020\tVariance in Dollars\tVariance in Percent\nRevenue:\t\t\t\t\t\t\t\t\nProduct\t8572\t8671\t(99)\t(1)%\t17159\t18549\t(1390)\t(7)%\nPercentage of revenue\t71.7%\t72.2%\t\t\t71.8%\t73.7%\t\t\nService\t3388\t3334\t54\t2%\t6730\t6615\t115\t2%\nPercentage of revenue\t28.3%\t27.8%\t\t\t28.2%\t26.3%\t\t\nTotal\t11960\t12005\t(45)\t-%\t23889\t25164\t(1275)\t(5)%\n", "q10k_tbl_72": "\tThree Months Ended\t\t\t\tSix Months Ended\t\t\t\n\tJanuary 23 2021\tJanuary 25 2020\tVariance in Dollars\tVariance in Percent\tJanuary 23 2021\tJanuary 25 2020\tVariance in Dollars\tVariance in Percent\nRevenue:\t\t\t\t\t\t\t\t\nAmericas\t6969\t7013\t(44)\t(1)%\t14168\t14990\t(822)\t(5)%\nPercentage of revenue\t58.3%\t58.4%\t\t\t59.3%\t59.6%\t\t\nEMEA\t3207\t3134\t73\t2%\t6171\t6417\t(246)\t(4)%\nPercentage of revenue\t26.8%\t26.1%\t\t\t25.8%\t25.5%\t\t\nAPJC\t1784\t1859\t(75)\t(4)%\t3551\t3758\t(207)\t(6)%\nPercentage of revenue\t14.9%\t15.5%\t\t\t14.9%\t14.9%\t\t\nTotal\t11960\t12005\t(45)\t-%\t23889\t25164\t(1275)\t(5)%\n", "q10k_tbl_73": "\tThree Months Ended\t\t\t\tSix Months Ended\t\t\t\n\tJanuary 23 2021\tJanuary 25 2020\tVariance in Dollars\tVariance in Percent\tJanuary 23 2021\tJanuary 25 2020\tVariance in Dollars\tVariance in Percent\nProduct revenue:\t\t\t\t\t\t\t\t\nAmericas\t4888\t4935\t(47)\t(1)%\t10017\t10842\t(825)\t(8)%\nPercentage of product revenue\t57.1%\t56.9%\t\t\t58.4%\t58.4%\t\t\nEMEA\t2438\t2393\t45\t2%\t4648\t4951\t(303)\t(6)%\nPercentage of product revenue\t28.4%\t27.6%\t\t\t27.1%\t26.7%\t\t\nAPJC\t1246\t1343\t(97)\t(7)%\t2494\t2757\t(263)\t(10)%\nPercentage of product revenue\t14.5%\t15.5%\t\t\t14.5%\t14.9%\t\t\nTotal\t8572\t8671\t(99)\t(1)%\t17159\t18549\t(1390)\t(7)%\n", "q10k_tbl_74": "\tThree Months Ended\t\t\t\tSix Months Ended\t\t\t\n\tJanuary 23 2021\tJanuary 25 2020\tVariance in Dollars\tVariance in Percent\tJanuary 23 2021\tJanuary 25 2020\tVariance in Dollars\tVariance in Percent\nProduct revenue:\t\t\t\t\t\t\t\t\nInfrastructure Platforms\t6391\t6567\t(176)\t(3)%\t12732\t14120\t(1388)\t(10)%\nApplications\t1354\t1349\t5\t-%\t2734\t2847\t(113)\t(4)%\nSecurity\t822\t749\t73\t10%\t1684\t1565\t119\t8%\nOther Products\t4\t7\t(3)\t(39)%\t9\t17\t(8)\t(49)%\nTotal\t8572\t8671\t(99)\t(1)%\t17159\t18549\t(1390)\t(7)%\n", "q10k_tbl_75": "\tThree Months Ended\t\t\t\tSix Months Ended\t\t\t\n\tJanuary 23 2021\tJanuary 25 2020\tVariance in Dollars\tVariance in Percent\tJanuary 23 2021\tJanuary 25 2020\tVariance in Dollars\tVariance in Percent\nService revenue:\t\t\t\t\t\t\t\t\nAmericas\t2081\t2078\t3\t-%\t4151\t4148\t3\t-%\nPercentage of service revenue\t61.4%\t62.3%\t\t\t61.7%\t62.7%\t\t\nEMEA\t769\t741\t28\t4%\t1523\t1466\t57\t4%\nPercentage of service revenue\t22.7%\t22.2%\t\t\t22.6%\t22.2%\t\t\nAPJC\t538\t515\t23\t4%\t1057\t1001\t56\t6%\nPercentage of service revenue\t15.9%\t15.5%\t\t\t15.7%\t15.1%\t\t\nTotal\t3388\t3334\t54\t2%\t6730\t6615\t115\t2%\n", "q10k_tbl_76": "\tThree Months Ended\t\t\t\tSix Months Ended\t\t\t\n\tAMOUNT\t\tPERCENTAGE\t\tAMOUNT\t\tPERCENTAGE\t\n\tJanuary 23 2021\tJanuary 25 2020\tJanuary 23 2021\tJanuary 25 2020\tJanuary 23 2021\tJanuary 25 2020\tJanuary 23 2021\tJanuary 25 2020\nGross margin:\t\t\t\t\t\t\t\t\nProduct\t5528\t5545\t64.5%\t63.9%\t10909\t11899\t63.6%\t64.1%\nService\t2256\t2219\t66.6%\t66.6%\t4456\t4329\t66.2%\t65.4%\nTotal\t7784\t7764\t65.1%\t64.7%\t15365\t16228\t64.3%\t64.5%\n", "q10k_tbl_77": "\tProduct Gross Margin Percentage\t\n\tThree Months Ended\tSix Months Ended\nFiscal 2020\t63.9%\t64.1%\nProductivity (1)\t0.6%\t(0.1)%\nProduct pricing\t(1.6)%\t(1.6)%\nMix of products sold\t1.7%\t1.6%\nLegal and indemnification charge\t-%\t(0.2)%\nOthers\t(0.1)%\t(0.2)%\nFiscal 2021\t64.5%\t63.6%\n", "q10k_tbl_78": "\tThree Months Ended\t\t\t\tSix Months Ended\t\t\t\n\tAMOUNT\t\tPERCENTAGE\t\tAMOUNT\t\tPERCENTAGE\t\n\tJanuary 23 2021\tJanuary 25 2020\tJanuary 23 2021\tJanuary 25 2020\tJanuary 23 2021\tJanuary 25 2020\tJanuary 23 2021\tJanuary 25 2020\nGross margin:\t\t\t\t\t\t\t\t\nAmericas\t4705\t4692\t67.5%\t66.9%\t9552\t10008\t67.4%\t66.8%\nEMEA\t2145\t2062\t66.9%\t65.8%\t4038\t4229\t65.4%\t65.9%\nAPJC\t1155\t1219\t64.8%\t65.6%\t2268\t2413\t63.9%\t64.2%\nSegment total\t8005\t7974\t66.9%\t66.4%\t15858\t16650\t66.4%\t66.2%\nUnallocated corporate items (1)\t(221)\t(210)\t\t\t(493)\t(422)\t\t\nTotal\t7784\t7764\t65.1%\t64.7%\t15365\t16228\t64.3%\t64.5%\n", "q10k_tbl_79": "\tThree Months Ended\t\t\t\tSix Months Ended\t\t\t\n\tJanuary 23 2021\tJanuary 25 2020\tVariance in Dollars\tVariance in Percent\tJanuary 23 2021\tJanuary 25 2020\tVariance in Dollars\tVariance in Percent\nResearch and development\t1527\t1570\t(43)\t(3)%\t3139\t3236\t(97)\t(3)%\nPercentage of revenue\t12.8%\t13.1%\t\t\t13.1%\t12.9%\t\t\nSales and marketing\t2277\t2279\t(2)\t-%\t4494\t4759\t(265)\t(6)%\nPercentage of revenue\t19.0%\t19.0%\t\t\t18.8%\t18.9%\t\t\nGeneral and administrative\t484\t455\t29\t6%\t1028\t974\t54\t6%\nPercentage of revenue\t4.0%\t3.8%\t\t\t4.3%\t3.9%\t\t\nTotal\t4288\t4304\t(16)\t-%\t8661\t8969\t(308)\t(3)%\nPercentage of revenue\t35.9%\t35.9%\t\t\t36.3%\t35.6%\t\t\n", "q10k_tbl_80": "\tThree Months Ended\t\tSix Months Ended\t\n\tJanuary 23 2021\tJanuary 25 2020\tJanuary 23 2021\tJanuary 25 2020\nAmortization of purchased intangible assets:\t\t\t\t\nCost of sales\t156\t165\t326\t331\nOperating expenses\t39\t38\t75\t74\nTotal\t195\t203\t401\t405\n", "q10k_tbl_81": "\tThree Months Ended\t\tSix Months Ended\t\n\tJanuary 23 2021\tJanuary 25 2020\tJanuary 23 2021\tJanuary 25 2020\nOperating income\t3223\t3380\t5793\t6959\nOperating income as a percentage of revenue\t26.9%\t28.2%\t24.2%\t27.7%\n", "q10k_tbl_82": "\tThree Months Ended\t\t\tSix Months Ended\t\t\n\tJanuary 23 2021\tJanuary 25 2020\tVariance in Dollars\tJanuary 23 2021\tJanuary 25 2020\tVariance in Dollars\nInterest income\t161\t242\t(81)\t335\t515\t(180)\nInterest expense\t(113)\t(158)\t45\t(225)\t(336)\t111\nInterest income (expense) net\t48\t84\t(36)\t110\t179\t(69)\n", "q10k_tbl_83": "\tThree Months Ended\t\t\tSix Months Ended\t\t\n\tJanuary 23 2021\tJanuary 25 2020\tVariance in Dollars\tJanuary 23 2021\tJanuary 25 2020\tVariance in Dollars\nGains (losses) on investments net:\t\t\t\t\t\t\nAvailable-for-sale debt investments\t9\t11\t(2)\t24\t21\t3\nMarketable equity investments\t0\t0\t0\t(1)\t0\t(1)\nNon-marketable equity and other investments\t(17)\t81\t(98)\t25\t91\t(66)\nNet gains (losses) on investments\t(8)\t92\t(100)\t48\t112\t(64)\nOther gains (losses) net\t(8)\t(22)\t14\t(15)\t(30)\t15\nOther income (loss) net\t(16)\t70\t(86)\t33\t82\t(49)\n", "q10k_tbl_84": "\tJanuary 23 2021\tJuly 25 2020\tIncrease (Decrease)\nCash and cash equivalents\t11793\t11809\t(16)\nAvailable-for-sale debt investments\t18790\t17610\t1180\nMarketable equity securities\t5\t0\t5\nTotal\t30588\t29419\t1169\n", "q10k_tbl_85": "\tSix Months Ended\t\n\tJanuary 23 2021\tJanuary 25 2020\nNet cash provided by operating activities\t7070\t7387\nAcquisition of property and equipment\t(358)\t(391)\nFree cash flow\t6712\t6996\n", "q10k_tbl_86": "\tDIVIDENDS\t\tSTOCK REPURCHASE PROGRAM\t\t\t\nQuarter Ended\tPer Share\tAmount\tShares\tWeighted-Average Price per Share\tAmount\tTOTAL\nFiscal 2021\t\t\t\t\t\t\nJanuary 23 2021\t0.36\t1521\t19\t42.82\t801\t2322\nOctober 24 2020\t0.36\t1520\t20\t40.44\t800\t2320\nFiscal 2020\t\t\t\t\t\t\nJuly 25 2020\t0.36\t1525\t0\t0\t0\t1525\nApril 25 2020\t0.36\t1519\t25\t39.71\t981\t2500\nJanuary 25 2020\t0.35\t1486\t18\t46.71\t870\t2356\nOctober 26 2019\t0.35\t1486\t16\t48.91\t768\t2254\n", "q10k_tbl_87": "\tJanuary 23 2021\tJuly 25 2020\tIncrease (Decrease)\nAccounts receivable net\t4307\t5472\t(1165)\n", "q10k_tbl_88": "\tJanuary 23 2021\tJuly 25 2020\tIncrease (Decrease)\nInventories\t1436\t1282\t154\nPurchase commitments with contract manufacturers and suppliers\t4588\t4406\t182\n", "q10k_tbl_89": "\tJanuary 23 2021\tJuly 25 2020\tIncrease (Decrease)\nLease receivables net\t1840\t2088\t(248)\nLoan receivables net\t5721\t5856\t(135)\nFinanced service contracts net\t2566\t2821\t(255)\nTotal net\t10127\t10765\t(638)\n", "q10k_tbl_90": "\tMaturity Date\tJanuary 23 2021\tJuly 25 2020\nSenior notes:\t\t\t\nFixed-rate notes:\t\t\t\n2.20%\tFebruary 28 2021\t2500\t2500\n2.90%\tMarch 4 2021\t500\t500\n1.85%\tSeptember 20 2021\t2000\t2000\n3.00%\tJune 15 2022\t500\t500\n2.60%\tFebruary 28 2023\t500\t500\n2.20%\tSeptember 20 2023\t750\t750\n3.625%\tMarch 4 2024\t1000\t1000\n3.50%\tJune 15 2025\t500\t500\n2.95%\tFebruary 28 2026\t750\t750\n2.50%\tSeptember 20 2026\t1500\t1500\n5.90%\tFebruary 15 2039\t2000\t2000\n5.50%\tJanuary 15 2040\t2000\t2000\nTotal\t\t14500\t14500\n", "q10k_tbl_91": "\tJanuary 23 2021\tJuly 25 2020\tIncrease (Decrease)\nProduct\t8332\t7895\t437\nService\t12514\t12551\t(37)\nTotal\t20846\t20446\t400\nReported as:\t\t\t\nCurrent\t11552\t11406\t146\nNoncurrent\t9294\t9040\t254\nTotal\t20846\t20446\t400\n", "q10k_tbl_92": "\tJanuary 23 2021\tJuly 25 2020\tIncrease (Decrease)\nProduct\t11666\t11261\t405\nService\t16512\t17093\t(581)\nTotal\t28178\t28354\t(176)\n", "q10k_tbl_93": "\tJanuary 23 2021\t\tJuly 25 2020\t\n\tNotional Amount\tFair Value\tNotional Amount\tFair Value\nForward contracts:\t\t\t\t\nPurchased\t3032\t14\t2441\t1\nSold\t1807\t(16)\t1874\t4\n", "q10k_tbl_94": "Period\tTotal Number of Shares Purchased\tAverage Price Paid per Share\tTotal Number of Shares Purchased as Part of Publicly Announced Plans or Programs\tApproximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs\nOctober 25 2020 to November 21 2020\t5\t38.36\t5\t9854\nNovember 22 2020 to December 19 2020\t6\t43.85\t6\t9574\nDecember 20 2020 to January 23 2021\t8\t44.86\t8\t9240\nTotal\t19\t42.82\t19\t\n", "q10k_tbl_95": "Exhibit Number\tExhibit Description\tIncorporated by Reference\t\t\t\tFiled Herewith\n\t\tForm\tFile No.\tExhibit\tFiling Date\t\n2.1\tAgreement and Plan of Merger dated as of January 25 2021 by and between Cisco Systems Inc. a California corporation and Cisco Systems (DE) Inc. a Delaware corporation\t8-K12B\t001-39940\t2.1\t1/25/2021\t\n3.1\tAmended and Restated Certificate of Incorporation of Cisco Systems Inc. as currently in effect\t8-K12B\t001-39940\t3.1\t1/25/2021\t\n3.2\tAmended and Restated Bylaws of Cisco Systems Inc. as currently in effect\t8-K12B\t001-39940\t3.2\t1/25/2021\t\n4.1\tFirst Supplemental Indenture dated January 25 2021 to the Indenture dated February 17 2009 between Cisco Systems Inc. and the Bank of New York Mellon Trust Company N.A. as trustee\t\t\t\t\tX\n4.2\tFirst Supplemental Indenture dated January 25 2021 to the Indenture dated November 17 2009 between Cisco Systems Inc. and the Bank of New York Mellon Trust Company N.A. as trustee\t\t\t\t\tX\n4.3\tFirst Supplemental Indenture dated January 25 2021 to the Indenture dated March 3 2014 between the Company and The Bank of New York Mellon Trust Company\t\t\t\t\tX\n10.1*\tLetter Agreement by and between Cisco Systems Inc. and R. Scott Herren\t8-K\t000-18225\t10.1\t11/13/2020\t\n10.2*\tTransition Agreement by and between Cisco Systems Inc. and Kelly A. Kramer\t8-K\t000-18225\t10.2\t11/13/2020\t\n10.3\tFirst Amendment to Amended and Restated Credit Agreement and Consent dated as of January 25 2021 by and among Cisco Systems Inc. the Lenders party thereto and Bank of America N.A. as Administrative Agent\t\t\t\t\tX\n10.4*\tForm of Indemnity Agreement\t8-K12B\t001-39940\t10.1\t1/25/2021\t\n10.5*\tCisco Systems Inc. 2005 Stock Incentive Plan (including related form agreements)\t\t\t\t\tX\n10.6*\tCisco Systems Inc. Deferred Compensation Plan as amended\t\t\t\t\tX\n10.7*\tCisco Systems Inc. Employee Stock Purchase Plan\t\t\t\t\tX\n31.1\tRule 13a-14(a)/15d-14(a) Certification of Principal Executive Officer\t\t\t\t\tX\n31.2\tRule 13a-14(a)/15d-14(a) Certification of Principal Financial Officer\t\t\t\t\tX\n32.1\tSection 1350 Certification of Principal Executive Officer\t\t\t\t\tX\n32.2\tSection 1350 Certification of Principal Financial Officer\t\t\t\t\tX\n101.INS\tInline XBRL Instance - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.\t\t\t\t\tX\n101.SCH\tInline XBRL Taxonomy Extension Schema Document\t\t\t\t\tX\n"}{"bs": "q10k_tbl_2", "is": "q10k_tbl_3", "cf": "q10k_tbl_5"}None
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended January 23, 2021
or
☐
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission file number 001-39940
_____________________________________
CISCO SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
Delaware
77-0059951
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification Number)
170 West Tasman Drive
San Jose, California95134
(Address of principal executive office and zip code)
(408) 526-4000
(Registrant’s telephone number, including area code)
Not Applicable
(Former name, former address and formal fiscal year, if changed since last report.)
_____________________________________
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, par value $0.001 per share
CSCO
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer
☒
Accelerated filer
☐
Non-accelerated filer
☐
Smaller reporting company
☐
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
Number of shares of the registrant’s common stock outstanding as of February 11, 2021: 4,221,785,547
Accounts receivable, net of allowance for doubtful accounts of $102 at January 23, 2021 and $143 at July 25, 2020
4,307
5,472
Inventories
1,436
1,282
Financing receivables, net
5,027
5,051
Other current assets
2,553
2,349
Total current assets
43,911
43,573
Property and equipment, net
2,386
2,453
Financing receivables, net
5,100
5,714
Goodwill
34,733
33,806
Purchased intangible assets, net
1,462
1,576
Deferred tax assets
4,109
3,990
Other assets
3,900
3,741
TOTAL ASSETS
$
95,601
$
94,853
LIABILITIES AND EQUITY
Current liabilities:
Short-term debt
$
5,000
$
3,005
Accounts payable
1,867
2,218
Income taxes payable
763
839
Accrued compensation
3,295
3,122
Deferred revenue
11,552
11,406
Other current liabilities
4,791
4,741
Total current liabilities
27,268
25,331
Long-term debt
9,554
11,578
Income taxes payable
8,084
8,837
Deferred revenue
9,294
9,040
Other long-term liabilities
2,280
2,147
Total liabilities
56,480
56,933
Commitments and contingencies (Note 14)
Equity:
Cisco shareholders’ equity:
Preferred stock, no par value: 5 shares authorized; none issued and outstanding
—
—
Common stock and additional paid-in capital, $0.001 par value: 20,000 shares authorized; 4,221 and 4,237 shares issued and outstanding at January 23, 2021 and July 25, 2020, respectively
Change in net unrealized gains and losses, net of tax benefit (expense) of $0 and $17 for the second quarter and first six months of fiscal 2021, respectively, and $(15) and $(29) for the corresponding periods of fiscal 2020, respectively
6
66
(18)
139
Net (gains) losses reclassified into earnings, net of tax (benefit) expense of $2 and $7 for the second quarter and first six months of fiscal 2021, respectively and $7 and $12 for the corresponding periods of fiscal 2020, respectively
(7)
(4)
(17)
(9)
(1)
62
(35)
130
Cash flow hedging instruments:
Change in unrealized gains and losses, net of tax benefit (expense) of $1 for each of the second quarter and first six months of fiscal 2021, and $0 and $1 for the corresponding periods of fiscal 2020, respectively
(2)
1
(4)
1
Net (gains) losses reclassified into earnings, net of tax (benefit) expense of $0 and $1 for the second quarter and first six months of fiscal 2021, respectively, and $0 for each of the corresponding periods of fiscal 2020
(3)
2
(4)
2
(5)
3
(8)
3
Net change in cumulative translation adjustment and actuarial gains and losses net of tax benefit (expense) of $(2) and $(3) for the second quarter and first six months of fiscal 2021, respectively, and $(1) for each of the corresponding periods of fiscal 2020