Period for amount to be recognized as revenue

  
Property and Equipment, Net

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | July 30, 2022 |  | July 31, 2021 |
| Gross property and equipment: |  |  |  |  |
| Land, buildings, and building and leasehold improvements |  | $ | 4,219  |  |  | $ | 4,304  |  |
| Computer equipment and related software |  | 779  |  |  | 858  |  |
| Production, engineering, and other equipment |  | 4,647  |  |  | 5,106  |  |
| Operating lease assets |  | 185  |  |  | 273  |  |
| Furniture, fixtures and other |  | 335  |  |  | 377  |  |
| Total gross property and equipment |  | 10,165  |  |  | 10,918  |  |
| Less: accumulated depreciation and amortization |  | (8,168) |  |  | (8,580) |  |
| Total |  | $ | 1,997  |  |  | $ | 2,338  |  |

Remaining Performance Obligations (RPO)

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | July 30, 2022 |  | July 31, 2021 |
| Product |  | $ | 14,090  |  |  | $ | 13,270  |  |
| Service |  | 17,449  |  |  | 17,623  |  |
| Total |  | $ | 31,539  |  |  | $ | 30,893  |  |
|  |  |  |  |  |
| Short-term RPO |  | $ | 16,936  |  |  | $ | 16,289  |  |
| Long-term RPO |  | 14,603  |  |  | 14,604  |  |
| Total |  | $ | 31,539  |  |  | $ | 30,893  |  |
|  |  |  |  |  |
| Amount to be recognized as revenue over the next 12 months |  | 54  | % |  | 53  | % |
|  |  |  |  |  |
| Deferred revenue |  | $ | 23,264  |  |  | $ | 22,164  |  |
| Unbilled contract revenue |  | 8,275  |  |  | 8,729  |  |
| Total |  | $ | 31,539  |  |  | $ | 30,893  |  |

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

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | July 30, 2022 |  | July 31, 2021 |
| Product |  | $ | 10,427  |  |  | $ | 9,416  |  |
| Service |  | 12,837  |  |  | 12,748  |  |
| Total |  | $ | 23,264  |  |  | $ | 22,164  |  |
| Reported as: |  |  |  |  |
| Current |  | $ | 12,784  |  |  | $ | 12,148  |  |
| Noncurrent |  | 10,480  |  |  | 10,016  |  |
| Total |  | $ | 23,264  |  |  | $ | 22,164  |  |

Transition Tax PayableOur income tax payable associated with the one-time U.S. transition tax on accumulated earnings for foreign subsidiaries as a result of the Tax Act is as follows (in millions):

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | July 30, 2022 |  | July 31, 2021 |
| Current |  | $ | 727  |  |  | $ | 727  |  |
| Noncurrent |  | 5,456  |  |  | 6,183  |  |
| Total |  | $ | 6,183  |  |  | $ | 6,910  |  |

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