
	May 2, 2025		January 31, 2025

	(in millions)
Cash, cash equivalents, and restricted cash:
Cash and cash equivalents	$	7,700	$	3,633
Cash and cash equivalents — held for sale (a)	—		62
Restricted cash (b)	153		124
Total cash, cash equivalents, and restricted cash	$	7,853	$	3,819
Inventories:
Production materials	$	5,245	$	4,432
Work-in-process	1,229		1,128
Finished goods	941		1,156
Total inventories	$	7,415	$	6,716


Deferred costs:
Total deferred costs, current (c)	$	3,854	$	4,129
Contract manufacturers' receivables:
Total contract manufacturers' receivables (d)	$	3,850	$	731
Property, plant, and equipment, net:
Assets in a customer contract	$	5,559	$	5,204
Computer and other equipment	3,744		3,651
Land and buildings	2,894		2,838
Internal use software	2,451		2,403
Total property, plant, and equipment	14,648		14,096
Accumulated depreciation and amortization	(8,265)		(7,760)
Total property, plant, and equipment, net	$	6,383	$	6,336

(a)Held for sale represents the reclassification of Secureworks cash and cash equivalents to assets held for sale as of January 31, 2025. See Note 1 of the Notes to the Condensed Consolidated Financial Statements for more information about the sale of Secureworks.

(b)Restricted cash is primarily classified as other current assets in the Condensed Consolidated Statements of Financial Position and consists predominantly of cash required to be held in escrow pursuant to DFS securitization arrangements.

(c)Deferred costs are included in other current assets in the Condensed Consolidated Statements of Financial Position. Amounts classified as long-term deferred costs are included in other non-current assets and are not disclosed above.

(d)Contract manufacturers’ receivables are classified as other current assets in the Condensed Consolidated Statements of Financial Position and consist of sales of components to contract manufacturers to manufacture or assemble the Company’s products. The Company has agreements with the majority of contract manufacturers that permit net settlement mitigating the credit risk wholly or in part. During the three months ended May 2, 2025, the portion of receivables not offset increased primarily due to the timing of the sale of components to one contract manufacturer and the corresponding purchase of assembled products.

The following table presents changes in the Company’s liability for standard limited warranties for the periods indicated:


	Three Months Ended
		May 2, 2025		May 3, 2024

		(in millions)
Warranty liability:
Warranty liability at beginning of period		$	424	$	426
Costs accrued for new warranty contracts and changes in estimates for pre-existing warranties (a)		211		229
Service obligations honored		(220)		(229)
Warranty liability at end of period (b)		$	415	$	426

____________________

(a)Changes in cost estimates related to pre-existing warranties are aggregated with accruals for new standard warranty contracts. The Company’s warranty liability process does not differentiate between estimates made for pre-existing warranties and those made for new warranty obligations.

The Company incurs costs related to employee severance and records a liability for these costs when it is probable that employees will be entitled to termination benefits and the amounts can be reasonably estimated. The liability related to these actions is included in accrued and other within current liabilities in the Condensed Consolidated Statements of Financial Position.


	Three Months Ended
		May 2, 2025		May 3, 2024

		(in millions)
Severance liability:
Severance liability at beginning of period		$	238	$	352
Severance charges		130		92
Cash paid and other		(217)		(250)
Severance liability at end of period		$	151	$	194

The Company maintains a Supply Chain Finance Program (the “SCF Program”), which enables eligible suppliers, at the supplier's sole discretion, to sell receivables due from the Company to a third-party financial institution. The Company has no involvement in establishing the terms or conditions of the arrangement between its suppliers and the financial institution, no economic interest in a supplier's decision to sell a receivable, and does not provide legally secured assets or other forms of guarantees under the arrangement. The SCF Program does not impact the Company's liquidity, as payments for participating supplier invoices are remitted by the Company to the financial institution on the original invoice due date, regardless of whether an individual invoice is sold by the supplier to the financial institution. As of May 2, 2025 and January 31, 2025, the Company had $1.3 billion and $1.4 billion, respectively, included within accounts payable on the Condensed Consolidated Statements of Financial Position representing invoices due to suppliers confirmed as valid under the SCF Program.


	Three Months Ended
		May 2, 2025		May 3, 2024

		(in millions)
Interest and other, net:
Investment income, primarily interest		$	31	$	54
Gain (loss) on investments, net		17		(30)
Interest expense		(354)		(343)
Foreign exchange		(5)		(38)



Gain on disposition of businesses and assets		236		—
Other		(7)		(16)
Total interest and other, net		$	(82)	$	(373)