v3.26.1
Financing Receivables (Tables)
 12 Months Ended
Jul. 25, 2026
Receivables [Abstract]  
Financing Receivables
A summary of our financing receivables is presented as follows (in millions):
July 25, 2026Loan ReceivablesLease ReceivablesTotal
Gross$7,457 $941 $8,398 
Residual value— 67 67 
Unearned income— (83)(83)
Allowance for credit loss(40)(10)(50)
Total, net$7,417 $915 $8,332 
Reported as:
Current$3,024 $368 $3,392 
Noncurrent4,393 547 4,940 
Total, net$7,417 $915 $8,332 
July 26, 2025Loan ReceivablesLease ReceivablesTotal
Gross$5,628 $982 $6,610 
Residual value— 66 66 
Unearned income— (99)(99)
Allowance for credit loss(37)(13)(50)
Total, net$5,591 $936 $6,527 
Reported as:
Current$2,715 $346 $3,061 
Noncurrent2,876 590 3,466 
Total, net$5,591 $936 $6,527 
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):
July 25, 2026Fiscal Year
Internal Credit Risk RatingPriorJuly 30, 2022July 29, 2023July 27, 2024July 26, 2025July 25, 2026Total
Loan Receivables:
1 to 4$5 $39 $164 $681 $1,282 $2,479 $4,650 
5 to 68 8 79 226 760 1,685 2,766 
7 and Higher— 1 2 8 16 14 41 
Total Loan Receivables$13 $48 $245 $915 $2,058 $4,178 $7,457 
Lease Receivables:
1 to 4$— $7 $63 $139 $176 $158 $543 
5 to 6— 7 39 69 76 115 306 
7 and Higher— — 1 4 1 3 9 
Total Lease Receivables$— $14 $103 $212 $253 $276 $858 
Total$13 $62 $348 $1,127 $2,311 $4,454 $8,315 
July 26, 2025Fiscal Year
Internal Credit Risk RatingPriorJuly 31, 2021July 30, 2022July 29, 2023July 27, 2024July 26, 2025Total
Loan Receivables:
1 to 4$2 $83 $236 $371 $1,258 $1,556 $3,506 
5 to 62 56 53 167 561 1,248 2,087 
7 and Higher— — 6 9 4 16 35 
Total Loan Receivables$4 $139 $295 $547 $1,823 $2,820 $5,628 
Lease Receivables:
1 to 4$— $9 $23 $112 $187 $207 $538 
5 to 6— 6 25 77 120 103 331 
7 and Higher— — 1 3 8 2 14 
Total Lease Receivables$— $15 $49 $192 $315 $312 $883 
Total$4 $154 $344 $739 $2,138 $3,132 $6,511 
Schedule of Aging Analysis of Financing Receivables
The following tables present the aging analysis of gross receivables as of July 25, 2026 and July 26, 2025 (in millions):
DAYS PAST DUE
(INCLUDES BILLED AND UNBILLED)
July 25, 202631 - 6061 - 90 91+Total
Past Due		CurrentTotal120+ Still AccruingNonaccrual
Financing
Receivables
Loan receivables$31 $14 $12 $57 $7,400 $7,457 $7 $1 
Lease receivables9 2 3 14 844 858 1 — 
Total$40 $16 $15 $71 $8,244 $8,315 $8 $1 
DAYS PAST DUE
(INCLUDES BILLED AND UNBILLED)
July 26, 202531 - 6061 - 90 91+Total
Past Due		CurrentTotal120+ Still AccruingNonaccrual
Financing
Receivables
Loan receivables$18 $18 $16 $52 $5,576 $5,628 $4 $5 
Lease receivables7 3 6 16 867 883 4 1 
Total$25 $21 $22 $68 $6,443 $6,511 $8 $6 
Allowance for Credit Loss and Related Financing Receivables
The allowances for credit loss and the related financing receivables are summarized as follows (in millions):
CREDIT LOSS ALLOWANCES
Loan
Receivables		Lease
Receivables		Total
Allowance for credit loss as of July 26, 2025$37 $13 $50 
Provisions (benefits)3 (4)(1)
Foreign exchange and other— 1 1 
Allowance for credit loss as of July 25, 2026$40 $10 $50 
CREDIT LOSS ALLOWANCES
Loan
Receivables		Lease
Receivables		Total
Allowance for credit loss as of July 27, 2024$50 $15 $65 
Provisions (benefits)(6)(3)(9)
Recoveries (write-offs), net(9)— (9)
Foreign exchange and other2 1 3 
Allowance for credit loss as of July 26, 2025$37 $13 $50 
CREDIT LOSS ALLOWANCES
Loan
Receivables		Lease
Receivables		Total
Allowance for credit loss as of July 29, 2023$53 $19 $72 
Provisions (benefits)1 (3)(2)
Recoveries (write-offs), net(4)(1)(5)
Allowance for credit loss as of July 27, 2024$50 $15 $65