Document And Entity Information

3 Months Ended
Oct. 29, 2011

Nov. 15, 2011

Document And Entity Information [Abstract]

Document Type

10-Q

Amendment Flag

FALSE

Document Period End Date

Oct. 29, 2011

Document Fiscal Period Focus

Q1

Document Fiscal Year Focus

2012

Trading Symbol

csco

Entity Registrant Name

CISCO SYSTEMS INC

Entity Central Index Key

0000858877

Current Fiscal Year End Date

--07-28

Entity Filer Category

Large Accelerated Filer

Entity Common Stock, Shares Outstanding

5,375,863,983

Consolidated Balance Sheets (USD $)

In Millions

Oct. 29, 2011

Jul. 30, 2011

Current assets:

Cash and cash equivalents

$ 4,747

$ 7,662

Investments

39,641

36,923

Accounts receivable, net of allowance for doubtful accounts of $180 at October 29, 2011 and $204 at July 30, 2011

4,300

4,698

Inventories

1,622

1,486

Financing receivables, net

3,300

3,111

Deferred tax assets

2,158

2,410

Other current assets

1,499

941

Total current assets

57,267

57,231

Property and equipment, net

3,753

3,916

Financing receivables, net

3,209

3,488

Goodwill

16,823

16,818

Purchased intangible assets, net

2,369

2,541

Other assets

3,543

3,101

TOTAL ASSETS

86,964

87,095

Current liabilities:

Short-term debt

589

588

Accounts payable

908

876

Income taxes payable

455

120

Accrued compensation

2,557

3,163

Deferred revenue

8,444

8,025

Other current liabilities

4,508

4,734

Total current liabilities

17,461

17,506

Long-term debt

16,264

16,234

Income taxes payable

1,501

1,191

Deferred revenue

3,952

4,182

Other long-term liabilities

572

723

Total liabilities

39,750

39,836

Commitments and contingencies (Note 12)

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; 5,371 and 5,435 shares issued and outstanding at October 29, 2011 and July 30, 2011, respectively

38,297

38,648

Retained earnings

7,910

7,284

Accumulated other comprehensive income

981

1,294

Total Cisco shareholders' equity

47,188

47,226

Noncontrolling interests

26

33

Total equity

47,214

47,259

TOTAL LIABILITIES AND EQUITY

$ 86,964

$ 87,095

Consolidated Balance Sheets (Parenthetical) (USD $)

In Millions, except Per Share data

Oct. 29, 2011

Jul. 30, 2011

Consolidated Balance Sheets [Abstract]

Accounts receivable, allowance for doubtful accounts

$ 180

$ 204

Preferred stock, par value

Preferred stock, shares authorized

5

Preferred stock, issued

0

Preferred stock, outstanding

0

Common stock, par value

$ 0.001

Common stock, shares authorized

20,000

Common stock, shares issued

5,371

5,435

Common stock, shares outstanding

5,371

5,435

Consolidated Statements Of Operations (USD $)

In Millions, except Per Share data

3 Months Ended
Oct. 29, 2011

3 Months Ended
Oct. 30, 2010

NET SALES:

Product

$ 8,952

$ 8,700

Service

2,304

2,050

Total net sales

11,256

10,750

COST OF SALES:

Product

3,563

3,249

Service

803

746

Total cost of sales

4,366

3,995

GROSS MARGIN

6,890

6,755

OPERATING EXPENSES:

Research and development

1,375

1,431

Sales and marketing

2,452

2,402

General and administrative

552

458

Amortization of purchased intangible assets

99

113

Restructuring and other charges

202

Total operating expenses

4,680

4,404

OPERATING INCOME

2,210

2,351

Interest income

164

160

Interest expense

(148)

(166)

Other income, net

19

80

Interest and other income, net

35

74

INCOME BEFORE PROVISION FOR INCOME TAXES

2,245

2,425

Provision for income taxes

468

495

NET INCOME

$ 1,777

$ 1,930

Net income per share:

Basic

$ 0.33

$ 0.34

Diluted

$ 0.33

$ 0.34

Shares used in per-share calculation:

Basic

5,394

5,595

Diluted

5,407

5,675

Cash dividends declared per common share

$ 0.06

Consolidated Statements Of Cash Flows (USD $)

In Millions

3 Months Ended
Oct. 29, 2011

3 Months Ended
Oct. 30, 2010

Cash flows from operating activities:

Net income

$ 1,777

$ 1,930

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation, amortization and other

621

553

Share-based compensation expense

341

407

Provision for doubtful accounts

(22)

Deferred income taxes

109

338

Excess tax benefits from share-based compensation

(21)

(28)

Net gains on investments

(13)

(108)

Change in operating assets and liabilities, net of effects of acquisitions and divestitures:

Accounts receivable

399

506

Inventories

(168)

(193)

Financing receivables, net

(78)

Other assets

(374)

(30)

Accounts payable

36

45

Income taxes, net

(38)

(408)

Accrued compensation

(548)

(678)

Deferred revenue

232

(367)

Other liabilities

2

(200)

Net cash provided by operating activities

2,333

1,667

Cash flows from investing activities:

Purchases of investments

(11,770)

(9,569)

Proceeds from sales of investments

7,721

6,232

Proceeds from maturities of investments

1,179

3,574

Acquisition of property and equipment

(265)

(326)

Acquisition of businesses, net of cash and cash equivalents acquired

(38)

(69)

Change in investments in privately held companies

(95)

(28)

Other

77

19

Net cash used in investing activities

(3,191)

(167)

Cash flows from financing activities:

Issuances of common stock

203

374

Repurchases of common stock

(1,881)

(2,701)

Short-term borrowings, maturities less than 90 days, net

(16)

Excess tax benefits from share-based compensation

21

28

Dividends paid

(322)

Other

(78)

30

Net cash used in financing activities

(2,057)

(2,285)

Net decrease in cash and cash equivalents

(2,915)

(785)

Cash and cash equivalents, beginning of period

7,662

4,581

Cash and cash equivalents, end of period

4,747

3,796

Cash paid for:

Interest

220

270

Income taxes

$ 398

$ 565

Consolidated Statements Of Equity (USD $)

In Millions

Shares Of Common Stock [Member]

Common Stock And Additional Paid-In Capital [Member]

Retained Earnings [Member]

Accumulated Other Comprehensive Income [Member]

Total Cisco Shareholders' Equity [Member]

Noncontrolling Interests [Member]

Total

Stockholders' Equity Attributable to Parent, Beginning Balance at Jul. 31, 2010

$ 44,267

Stockholders' Equity Attributable to Noncontrolling Interests, Beginning Balance at Jul. 31, 2010

18

Beginning balance at Jul. 31, 2010

37,793

5,851

623

44,285

BALANCE, Shares at Jul. 31, 2010

5,655

Net income

1,930

Change in:

Unrealized gains and losses on investments, parent

40

Unrealized gains and losses on investments, noncontrolling

2

Unrealized gains and losses on investments

40

42

Derivative instruments, parent

49

Derivative instruments, noncontrolling

Derivative instruments

49

Cumulative translation adjustment and other, parent

238

Cumulative translation adjustment and other, noncontrolling

Cumulative translation adjustment and other

238

Comprehensive income (loss), parent

2,257

Comprehensive income, noncontrolling

2

Comprehensive income (loss)

2,259

Issuance of common stock, Shares

41

Issuance of common stock, Value

374

Repurchase of common stock, Shares

(119)

Repurchase of common stock, Value

(880)

(1,747)

(2,627)

Tax effects from employee stock incentive plans

(9)

Purchase acquisitions, Value

6

Share-based compensation expense

407

Stockholders' Equity Attributable to Noncontrolling Interest, Ending Balance at Oct. 30, 2010

20

Stockholders' Equity Attributable to Parent, Ending Balance at Oct. 30, 2010

44,675

Ending balance at Oct. 30, 2010

37,691

6,034

950

44,695

BALANCE, Shares at Oct. 30, 2010

5,577

Stockholders' Equity Attributable to Parent, Beginning Balance at Jul. 30, 2011

47,226

Stockholders' Equity Attributable to Noncontrolling Interests, Beginning Balance at Jul. 30, 2011

33

Beginning balance at Jul. 30, 2011

38,648

7,284

1,294

47,259

BALANCE, Shares at Jul. 30, 2011

5,435

Net income

1,777

Change in:

Unrealized gains and losses on investments, parent

(52)

Unrealized gains and losses on investments, noncontrolling

(7)

Unrealized gains and losses on investments

(52)

(59)

Derivative instruments, parent

(50)

Derivative instruments

(50)

Cumulative translation adjustment and other, parent

(211)

Cumulative translation adjustment and other

(211)

Comprehensive income (loss), parent

1,464

Comprehensive income, noncontrolling

(7)

Comprehensive income (loss)

1,457

Issuance of common stock, Shares

45

Issuance of common stock, Value

203

Repurchase of common stock, Shares

(109)

(100)

Repurchase of common stock, Value

(852)

(829)

(1,681)

Cash dividends declared

(322)

Tax effects from employee stock incentive plans

(43)

Share-based compensation expense

341

Stockholders' Equity Attributable to Noncontrolling Interest, Ending Balance at Oct. 29, 2011

26

Stockholders' Equity Attributable to Parent, Ending Balance at Oct. 29, 2011

47,188

Ending balance at Oct. 29, 2011

$ 38,297

$ 7,910

$ 981

$ 47,214

BALANCE, Shares at Oct. 29, 2011

5,371

Supplemental Information

In September 2001, the Company's Board of Directors authorized a stock repurchase program. As of October 29, 2011, the Company's Board of Directors had authorized an aggregate repurchase of up to $82 billion of common stock under this program with no termination date. For additional information regarding stock repurchases, see Note 13 to the Consolidated Financial Statements. The stock repurchases since the inception of this program and the related impact on Cisco shareholders' equity are summarized in the following table (in millions):


	Shares of Common Stock		Common Stock and Additional Paid-In Capital		Retained Earnings		Total Cisco Shareholders' Equity
Repurchases of common stock under the repurchase program		3,578	$	15,866	$	57,451	$	73,317

Basis Of Presentation

1.	Basis of Presentation

The fiscal year for Cisco Systems, Inc. (the "Company" or "Cisco") is the 52 or 53 weeks ending on the last Saturday in July. Fiscal 2012 and fiscal 2011 are each 52-week fiscal years. The Consolidated Financial Statements include the accounts of Cisco and its subsidiaries. All significant intercompany accounts and transactions have been eliminated. The Company conducts business globally and is primarily managed on a geographic basis. Beginning in fiscal 2012, the Company is organized into the following three geographic segments: the Americas; Europe, Middle East, and Africa ("EMEA"); and Asia Pacific, Japan, and China ("APJC"). In fiscal 2011, the Company was organized into four geographic segments, which consisted of United States and Canada, European Markets, Emerging Markets, and Asia Pacific Markets. As a result of this geographic segment change in fiscal 2012, countries within the former Emerging Markets segment were consolidated into either EMEA or the Americas segment depending on their respective geographic locations. The Company has reclassified the geographic segment data for the prior period to conform to the current period's presentation.

The accompanying financial data as of October 29, 2011 and for the three months ended October 29, 2011 and October 30, 2010 has been prepared by the Company, without audit, pursuant to the rules and regulations of the 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 30, 2011 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, the Company believes 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 the Company's Annual Report on Form 10-K for the fiscal year ended July 30, 2011.

The Company consolidates its investment in a venture fund managed by SOFTBANK Corp. and its affiliates ("SOFTBANK") as the Company is the primary beneficiary. The noncontrolling interests attributed to SOFTBANK are presented as a separate component from the Company's equity in the equity section of the Consolidated Balance Sheets. SOFTBANK's share of the earnings in the venture fund is not presented separately in the Consolidated Statements of Operations and is included in other income, net, as this amount is not material for any of the fiscal periods presented.

In the opinion of management, all adjustments (which include normal recurring adjustments, except as disclosed herein) necessary to present fairly the statement of financial position as of October 29, 2011 and results of operations, cash flows, and equity for the three months ended October 29, 2011 and October 30, 2010, as applicable, have been made. The results of operations for the three months ended October 29, 2011 are not necessarily indicative of the operating results for the full fiscal year or any future periods.

In addition to the geographic segment change referred to above, certain other reclassifications have been made to prior period amounts in order to conform to the current period's presentation.

The Company has evaluated subsequent events through the date that the financial statements were issued.

Summary Of Significant Accounting Policies

2.	Summary of Significant Accounting Policies

Recent Accounting Standards or Updates Not Yet Effective

In May 2011, the Financial Accounting Standards Board (FASB) issued an accounting standard update to provide guidance on achieving a consistent definition of and common requirements for measurement of and disclosure concerning fair value as between U.S. GAAP and International Financial Reporting Standards. This accounting standard update is effective for the Company beginning in the third quarter of fiscal 2012. The Company is currently evaluating the impact of this accounting standard update on its Consolidated Financial Statements but does not expect it will have a material impact.

In June 2011, the FASB issued an accounting standard update to provide guidance on increasing the prominence of items reported in other comprehensive income. This accounting standard update eliminates the option to present components of other comprehensive income as part of the statement of equity and requires that the total of comprehensive income, the components of net income, and the components of other comprehensive income be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements. This accounting standard update is effective for the Company beginning in the first quarter of fiscal 2013.

In August 2011, the FASB approved a revised accounting standard update intended to simplify how an entity tests goodwill for impairment. The amendment will allow an entity to first assess qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. An entity no longer will be required to calculate the fair value of a reporting unit unless the entity determines, based on a qualitative assessment, that it is more likely than not that its fair value is less than its carrying amount. This accounting standard update will be effective for the Company beginning in the first quarter of fiscal 2013 and early adoption is permitted. The Company is currently evaluating the impact of this accounting standard update on its Consolidated Financial Statements.

Business Combinations

3.	Business Combinations

The Company completed two business combinations during the three months ended October 29, 2011. A summary of the allocation of the total purchase consideration is presented as follows (in millions):


	Shares Issued		Purchase Consideration		Net Liabilities Assumed			Purchased Intangible Assets		Goodwill
Total acquisitions		—	$	38	$	(2	)	$	19	$	21

The total purchase consideration related to the Company's business combinations completed during the three months ended October 29, 2011 consisted of either cash consideration or cash consideration along with vested share-based awards assumed. Total transaction costs related to business combination activities for the three months ended October 29, 2011 and October 30, 2010 were $2 million and $8 million, respectively, which were expensed as incurred and recorded as G&A expenses.

The Company continues to evaluate certain assets and liabilities related to business combinations completed during the recent periods. Additional information, which existed as of the acquisition date but was at that time unknown to the Company, may become known to the Company during the remainder of the measurement period, a period not to exceed 12 months from the acquisition date. Changes to amounts recorded as assets or liabilities may result in a corresponding adjustment to goodwill.

The goodwill generated from the Company's business combinations completed during the three months ended October 29, 2011 is primarily related to expected synergies. The goodwill is not deductible for U.S. federal income tax purposes.

The Consolidated Financial Statements include the operating results of each business combination from the date of acquisition. Pro forma results of operations for the acquisitions completed during the three months ended October 29, 2011 have not been presented because the effects of the acquisitions, individually and in the aggregate, were not material to the Company's financial results.

Goodwill And Purchased Intangible Assets

4.	Goodwill and Purchased Intangible Assets

(a) Goodwill

Beginning in fiscal 2012, the Company's reportable segments were changed to the following segments: the Americas, EMEA, and APJC. As a result, the Company reallocated the goodwill at July 30, 2011 to these reportable segments. The following table presents the goodwill allocated to the Company's reportable segments as of and during the three months ended October 29, 2011 (in millions):


	Balance at July 30, 2011		Acquisitions		Other			Balance at October 29, 2011
Americas	$	11,627	$	12	$	(4	)	$	11,635
EMEA		3,272		6		(12	)		3,266
APJC		1,919		3		—			1,922

Total	$	16,818	$	21	$	(16	)	$	16,823

In the preceding table, "Other" includes foreign currency translation and purchase accounting adjustments.

(b) Purchased Intangible Assets

The following table presents details of the Company's intangible assets acquired through business combinations completed during the three months ended October 29, 2011 (in millions, except years):


	FINITE LIVES												INDEFINITE LIVES
	TECHNOLOGY				CUSTOMER RELATIONSHIPS				OTHER				In-Process Research & Development		TOTAL
	Weighted- Average Useful Life (in Years)		Amount		Weighted- Average Useful Life (in Years)		Amount		Weighted- Average Useful Life (in Years)		Amount		Amount		Amount
Total		3.7	$	19		—	$	—		—	$	—	$	—	$	19

The following tables present details of the Company's purchased intangible assets (in millions):


October 29, 2011	Gross		Accumulated Amortization			Net
Purchased intangible assets with finite lives:
Technology	$	2,128	$	(642	)	$	1,486
Customer relationships		2,269		(1,425	)		844
Other		123		(97	)		26

Total purchased intangible assets with finite lives		4,520		(2,164	)		2,356
In-process research & development, with indefinite lives		13		—			13

Total	$	4,533	$	(2,164	)	$	2,369


July 30, 2011	Gross		Accumulated Amortization			Net
Purchased intangible assets with finite lives:
Technology	$	1,961	$	(561	)	$	1,400
Customer relationships		2,277		(1,346	)		931
Other		123		(91	)		32

Total purchased intangible assets with finite lives		4,361		(1,998	)		2,363
In-process research & development, with indefinite lives		178		—			178

Total	$	4,539	$	(1,998	)	$	2,541

Purchased intangible assets include intangible assets acquired through business combinations as well as through direct purchases or licenses.

The following table presents the amortization of purchased intangible assets (in millions):


	Three Months Ended
	October 29, 2011		October 30, 2010
Amortization of purchased intangible assets:
Cost of sales	$	96	$	106
Operating expenses		99		113

Total	$	195	$	219

The estimated future amortization expense of purchased intangible assets with finite lives as of October 29, 2011 is as follows (in millions):


Fiscal Year	Amount
2012 (remaining nine months)	$	580
2013		659
2014		474
2015		404
2016		187
Thereafter		52

Total	$	2,356

Restructuring And Other Charges

5.	Restructuring and Other Charges

In fiscal 2011, the Company initiated a number of key, targeted actions to address several areas in its business model. These actions are intended to simplify and focus the Company's organization and operating model; align the Company's cost structure given transitions in the marketplace; divest or exit underperforming operations; and deliver value to the Company's shareholders. The Company is taking these actions to align its business based on its five foundational priorities: leadership in its core business (routing, switching, and associated services) which includes comprehensive security and mobility solutions; collaboration; data center virtualization and cloud; video; and architectures for business transformation. The Company announced in July 2011 that it would incur pretax charges, which are not expected to exceed $1.3 billion, as part of these expense reduction actions. In connection with the July announcement, the Company has incurred cumulative charges of approximately $925 million through October 29, 2011 (included as part of the charges discussed below). The Company expects to complete these restructuring actions by the end of fiscal 2012 with the corresponding restructuring charges recognized during the remainder of fiscal 2012.

During the three months ended October 29, 2011, the Company incurred total restructuring charges of $202 million consisting of $174 million of employee severance charges and $28 million of other restructuring charges. The employee severance charges consisted of $212 million of charges primarily related to impacted employees in the Company's international locations, partially offset by a reduction of $38 million related to a change in estimate regarding certain employee severance charges incurred in the fourth quarter of fiscal 2011. Other charges incurred during the three months ended October 29, 2011 were primarily for the consolidation of excess facilities, as well as an incremental charge related to the sale of the Company's Juarez, Mexico manufacturing operations, which sale was completed in the first quarter of fiscal 2012.

The following table summarizes the activity related to the restructuring and other charges related to the Company's July 2011 announcement and the realignment and restructuring of the Company's consumer product lines announced during the third quarter of fiscal 2011 (in millions):


	Voluntary Early Retirement Program			Employee Severance			Goodwill and Intangible Assets			Other			Total
Initial charges in fiscal 2011	$	453		$	247		$	71		$	28		$	799
Cash payments		(436	)		(13	)		—			—			(449	)
Non-cash items		—			—			(71	)		(17	)		(88	)

Balance as of July 30, 2011		17			234			—			11			262
Charges		—			174			—			28			202
Cash payments		(17	)		(276	)		—			(4	)		(297	)
Non-cash items		—			—			—			(18	)		(18	)

Balance as of October 29, 2011	$	—		$	132		$	—		$	17		$	149

Balance Sheet Details

6.	Balance Sheet Details

The following tables provide details of selected balance sheet items (in millions):


	October 29, 2011		July 30, 2011
Inventories:
Raw materials	$	193	$	219
Work in process		43		52
Finished goods:
Distributor inventory and deferred cost of sales		684		631
Manufactured finished goods		437		331

Total finished goods		1,121		962

Service-related spares		195		182
Demonstration systems		70		71

Total	$	1,622	$	1,486

Property and equipment, net:
Land, buildings, and building & leasehold improvements	$	4,616		$	4,760
Computer equipment and related software		1,410			1,429
Production, engineering, and other equipment		5,075			5,093
Operating lease assets ⁽¹⁾		293			293
Furniture and fixtures		486			491

		11,880			12,066
Less accumulated depreciation and amortization ⁽¹⁾		(8,127	)		(8,150	)

Total	$	3,753		$	3,916

⁽¹⁾ Accumulated depreciation related to operating lease assets was $171 and $169 as of October 29, 2011 and July 30, 2011, respectively.

Other assets:
Deferred tax assets	$	1,895	$	1,864
Investments in privately held companies		898		796
Other		750		441

Total	$	3,543	$	3,101

Deferred revenue:
Service	$	8,321	$	8,521
Product:
Unrecognized revenue on product shipments and other deferred revenue		3,209		3,003
Cash receipts related to unrecognized revenue from two-tier distributors		866		683

Total product deferred revenue		4,075		3,686

Total	$	12,396	$	12,207

Reported as:
Current	$	8,444	$	8,025
Noncurrent		3,952		4,182

Total	$	12,396	$	12,207

Financing Receivables And Guarantees

7.	Financing Receivables and Guarantees

(a) Financing Receivables

Financing receivables primarily consist of lease receivables, loan receivables, and financed service contracts and other. Lease receivables represent sales-type and direct-financing leases resulting from the sale of the Company'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 while loan receivables generally have terms of up to three years. The financed service contracts and other category includes financing receivables related to technical support and other services, as well as an insignificant amount of receivables related to financing of certain indirect costs associated with leases. Revenue related to the technical support services is typically deferred and included in deferred service revenue and is recognized ratably over the period during which the related services are to be performed, which typically ranges from one to three years.

A summary of the Company's financing receivables is presented as follows (in millions):


October 29, 2011	Lease Receivables			Loan Receivables			Financed Service Contracts & Other⁽¹⁾			Total Financing Receivables
Gross	$	3,086		$	1,468		$	2,557		$	7,111
Unearned income		(237	)		—			—			(237	)
Allowance for credit loss		(233	)		(103	)		(29	)		(365	)

Total, net	$	2,616		$	1,365		$	2,528		$	6,509

Reported as:
Current	$	1,054		$	861		$	1,385		$	3,300
Noncurrent		1,562			504			1,143			3,209

Total, net	$	2,616		$	1,365		$	2,528		$	6,509


July 30, 2011	Lease Receivables			Loan Receivables			Financed Service Contracts & Other⁽¹⁾			Total Financing Receivables
Gross	$	3,111		$	1,468		$	2,637		$	7,216
Unearned income		(250	)		—			—			(250	)
Allowance for credit loss		(237	)		(103	)		(27	)		(367	)

Total, net	$	2,624		$	1,365		$	2,610		$	6,599

Reported as:
Current	$	1,087		$	673		$	1,351		$	3,111
Noncurrent		1,537			692			1,259			3,488

Total, net	$	2,624		$	1,365		$	2,610		$	6,599

⁽¹⁾	As of October 29, 2011 and July 30, 2011, the deferred service revenue related to financed service contracts and other was $1,940 million and $2,044 million, respectively.

Contractual maturities of the gross lease receivables at October 29, 2011 are summarized as follows (in millions):


Fiscal Year	Amount
2012 (remaining nine months)	$	978
2013		988
2014		677
2015		325
2016		109
Thereafter		9

Total	$	3,086

Actual cash collections may differ from the contractual maturities due to early customer buyouts, refinancings, or defaults.

(b) Credit Quality of Financing Receivables

Financing receivables categorized by the Company's internal credit risk rating for each portfolio segment and class as of October 29, 2011 and July 30, 2011 are summarized as follows (in millions):


	INTERNAL CREDIT RISK RATING
October 29, 2011	1 to 4		5 to 6		7 and Higher		Total		Residual Value		Gross Receivables, Net of Unearned Income
Established Markets
Lease receivables	$	1,193	$	1,190	$	20	$	2,403	$	291	$	2,694
Loan receivables		206		258		6		470		—		470
Financed service contracts & other		1,610		870		49		2,529		—		2,529

Total Established Markets	$	3,009	$	2,318	$	75	$	5,402	$	291	$	5,693


Growth Markets
Lease receivables	$	51	$	90	$	10	$	151	$	4	$	155
Loan receivables		428		554		16		998		—		998
Financed service contracts & other		5		19		4		28		—		28

Total Growth Markets	$	484	$	663	$	30	$	1,177	$	4	$	1,181

Total	$	3,493	$	2,981	$	105	$	6,579	$	295	$	6,874


	INTERNAL CREDIT RISK RATING
July 30, 2011	1 to 4		5 to 6		7 and Higher		Total		Residual Value		Gross Receivables, Net of Unearned Income
Established Markets
Lease receivables	$	1,214	$	1,182	$	23	$	2,419	$	292	$	2,711
Loan receivables		204		187		4		395		—		395
Financed service contracts & other		1,622		939		52		2,613		—		2,613

Total Established Markets	$	3,040	$	2,308	$	79	$	5,427	$	292	$	5,719


Growth Markets
Lease receivables	$	35	$	93	$	18	$	146	$	4	$	150
Loan receivables		458		580		35		1,073		—		1,073
Financed service contracts & other		1		19		4		24		—		24

Total Growth Markets	$	494	$	692	$	57	$	1,243	$	4	$	1,247

Total	$	3,534	$	3,000	$	136	$	6,670	$	296	$	6,966

The Company's internal credit risk ratings of 1 through 4 correspond to investment-grade ratings, while credit risk ratings of 5 and 6 correspond to non-investment-grade ratings. Credit risk ratings of 7 and higher correspond to substandard ratings and constitute a relatively small portion of the Company's financing receivables.

The financing receivables are disaggregated into two classes: the Established Markets and Growth Markets . The Growth Markets class primarily consists of emerging countries including Brazil, Russia, India, China and Mexico, among others. The Established Markets class consists of countries other than the emerging countries in which the Company has financing receivables.

In circumstances when collectability is not deemed reasonably assured, the associated revenue is deferred in accordance with the Company's revenue recognition policies, and the related allowance for credit loss, if any, is included in deferred revenue. The Company also records deferred revenue associated with financing receivables when there are remaining performance obligations, as it does for financed service contracts. Total allowances for credit loss and deferred revenue as of October 29, 2011 and July 30, 2011 were $2,644 million and $2,793 million, respectively and they were associated with financing receivables (net of unearned income) of $6,874 million, and $6,966 million as of their respective period ends. The losses that the Company has incurred historically as well as in the periods presented with respect to its financing receivables have been immaterial and consistent with the performance of an investment-grade portfolio.

As of October 29, 2011 and July 30, 2011, the portion of the portfolio that was deemed to be impaired, generally with a credit risk rating of 8 or higher, was immaterial. The total net write-offs of financing receivables were not material for the first quarter of fiscal 2012. During the first quarter of fiscal 2012, the Company did not modify any financing receivables.

The following table presents the aging analysis of financing receivables by portfolio segment and class as of October 29, 2011 and July 30, 2011 (in millions):


October 29, 2011	31-60 Days Past Due ⁽¹⁾		61-90 Days Past Due ⁽¹⁾		Greater than 90 Days Past Due ^{(1) (2)}		Total Past Due		Current		Gross Receivables, Net of Unearned Income		Non-Accrual Financing Receivables		Impaired Financing Receivables
Established Markets	31-60 Days Past Due ⁽¹⁾		61-90 Days Past Due ⁽¹⁾		Greater than 90 Days Past Due ^{(1) (2)}		Total Past Due		Current		Gross Receivables, Net of Unearned Income		Non-Accrual Financing Receivables		Impaired Financing Receivables
Lease receivables	$	103	$	75	$	127	$	305	$	2,389	$	2,694	$	18	$	6
Loan receivables		3		4		9		16		454		470		2		2
Financed service contracts & other		64		97		241		402		2,127		2,529		14		6

Total Established Markets	$	170	$	176	$	377	$	723	$	4,970	$	5,693	$	34	$	14


Growth Markets
Lease receivables	$	4	$	5	$	2	$	11	$	144	$	155	$	9	$	9
Loan receivables		2		—		3		5		993		998		4		3
Financed service contracts & other		—		—		—		—		28		28		—		—

Total Growth Markets	$	6	$	5	$	5	$	16	$	1,165	$	1,181	$	13	$	12

Total	$	176	$	181	$	382	$	739	$	6,135	$	6,874	$	47	$	26


July 30, 2011	31-60 Days Past Due ⁽¹⁾		61-90 Days Past Due ⁽¹⁾		Greater than 90 Days Past Due ^{(1) (2)}		Total Past Due		Current		Gross Receivables, Net of Unearned Income		Non-Accrual Financing Receivables		Impaired Financing Receivables
Established Markets	31-60 Days Past Due ⁽¹⁾		61-90 Days Past Due ⁽¹⁾		Greater than 90 Days Past Due ^{(1) (2)}		Total Past Due		Current		Gross Receivables, Net of Unearned Income		Non-Accrual Financing Receivables		Impaired Financing Receivables
Lease receivables	$	85	$	33	$	139	$	257	$	2,454	$	2,711	$	16	$	6
Loan receivables		6		1		9		16		379		395		1		1
Financed service contracts & other		68		33		265		366		2,247		2,613		17		6

Total Established Markets	$	159	$	67	$	413	$	639	$	5,080	$	5,719	$	34	$	13


Growth Markets
Lease receivables	$	4	$	2	$	13	$	19	$	131	$	150	$	18	$	18
Loan receivables		2		6		12		20		1,053		1,073		3		3
Financed service contracts & other		—		—		—		—		24		24		—		—

Total Growth Markets	$	6	$	8	$	25	$	39	$	1,208	$	1,247	$	21	$	21

Total	$	165	$	75	$	438	$	678	$	6,288	$	6,966	$	55	$	34

⁽¹⁾

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 are 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. The preceding aging tables also exclude pending adjustments on billed tax assessment in certain international markets.

⁽²⁾

The balances of either unbilled or current financing receivables included in the greater-than-90 days past due category for lease receivables, loan receivables, and financed service contracts and other were $102 million, $10 million, and $212 million, respectively, as of October 29, 2011. Such balances for the same category of receivables were $116 million, $15 million, and $230 million, respectively, as of July 30, 2011.

As of October 29, 2011, the Company had financing receivables of $48 million, net of unbilled or current receivables from the same contract, that were in the greater-than 90 days past due category but remained on accrual status. Such balance was $50 million as of July 30, 2011. A financing receivable may be placed on non-accrual status earlier if, in management's opinion, a timely collection of the full principal and interest becomes uncertain.

(c) Allowance for Credit Loss Rollforward

The allowances for credit loss and the related financing receivables are summarized as follows (in millions):


	CREDIT LOSS ALLOWANCES
Three Months Ended October 29, 2011	Lease Receivables			Loan Receivables			Financed Service Contracts and Other		Total
Allowance for credit loss as of July 30, 2011	$	237		$	103		$	27	$	367
Provisions		2			5			2		9
Foreign exchange and other		(6	)		(5	)		—		(11	)

Allowance for credit loss as of October 29, 2011	$	233		$	103		$	29	$	365

Gross receivables as of October 29, 2011, net of unearned income	$	2,849		$	1,468		$	2,557	$	6,874

Financing receivables that were individually evaluated for impairment during the three month period ended October 29, 2011 were not material and therefore are not presented separately in the preceding table.

(d) Financing Guarantees

In the ordinary course of business, the Company provides financing guarantees for various third-party financing arrangements extended to channel partners and end-user customers. Payments under these financing guarantee arrangements were not material for the periods presented.

Channel Partner Financing Guarantees The Company facilitates arrangements for third-party financing extended to channel partners, consisting of revolving short-term financing, generally with payment terms ranging from 60 to 90 days. These financing arrangements facilitate the working capital requirements of the channel partners and, in some cases, the Company guarantees a portion of these arrangements. The volume of channel partner financing was $5.3 billion and $4.5 billion for the three months ended October 29, 2011 and October 30, 2010, respectively. The balance of the channel partner financing subject to guarantees was $1.5 billion as of October 29, 2011 and $1.4 billion as of July 30, 2011.

End-User Financing Guarantees The Company also provides financing guarantees for third-party financing arrangements extended to end-user customers related to leases and loans that typically have terms of up to three years. The volume of financing provided by third parties for leases and loans for the three months ended October 29, 2011 and October 30, 2010 was $411 million and $283 million, respectively. The volume of financing for which the Company has provided guarantees was $35 million for each of the respective periods.

Financing Guarantee Summary The aggregate amount of financing guarantees outstanding at October 29, 2011 and July 30, 2011, 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):


	October 29, 2011			July 30, 2011
Maximum potential future payments relating to financing guarantees:
Channel partner	$	349		$	336
End user		259			277

Total	$	608		$	613

Deferred revenue associated with financing guarantees:
Channel partner	$	(261	)	$	(248	)
End user		(234	)		(248	)

Total	$	(495	)	$	(496	)

Maximum potential future payments relating to financing guarantees, net of associated deferred revenue	$	113		$	117

Investments

8.	Investments

(a) Summary of Available-for-Sale Investments

The following tables summarize the Company's available-for-sale investments (in millions):


October 29, 2011	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Fixed income securities:
U.S. government securities	$	20,206	$	53	$	(5	)	$	20,254
U.S. government agency securities ⁽¹⁾		10,026		27		(4	)		10,049
Non-U.S. government and agency securities ⁽²⁾		3,516		12		(3	)		3,525
Corporate debt securities		4,299		44		(23	)		4,320
Asset-backed securities		116		4		(4	)		116

Total fixed income securities		38,163		140		(39	)		38,264
Publicly traded equity securities		777		603		(3	)		1,377

Total	$	38,940	$	743	$	(42	)	$	39,641


July 30, 2011	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Fixed income securities:
U.S. government securities	$	19,087	$	52	$	—		$	19,139
U.S. government agency securities ⁽¹⁾		8,742		35		(1	)		8,776
Non-U.S. government and agency securities ⁽²⁾		3,119		14		(1	)		3,132
Corporate debt securities		4,333		65		(4	)		4,394
Asset-backed securities		120		5		(4	)		121

Total fixed income securities		35,401		171		(10	)		35,562
Publicly traded equity securities		734		639		(12	)		1,361

Total	$	36,135	$	810	$	(22	)	$	36,923

⁽¹⁾	Includes corporate debt securities that are guaranteed by the Federal Deposit Insurance Corporation (FDIC).

⁽²⁾	Includes agency and corporate debt securities that are guaranteed by non-U.S. governments.

(b) Gains and Losses on Available-for-Sale Investments

The following table presents the net realized gains (losses) related to the Company's available-for-sale investments (in millions):


Three Months Ended	October 29, 2011			October 30, 2010
Net realized gains (losses):
Publicly traded equity securities	$	(16	)	$	19
Fixed income securities		25			71

Total	$	9		$	90

There were no material impairment charges on available-for-sale investments for the three months ended October 29, 2011 and October 30, 2010.

The following table summarizes the activity related to credit losses for fixed income securities (in millions):


	October 29, 2011			October 30, 2010
Balance at beginning of period	$	(23	)	$	(95	)
Sales of other-than-temporarily impaired fixed income securities		—			27

Balance at end of period	$	(23	)	$	(68	)

The following tables present the breakdown of the available-for-sale investments with gross unrealized losses and the duration that those losses had been unrealized at October 29, 2011 and July 30, 2011 (in millions):


	UNREALIZED LOSSES LESS THAN 12 MONTHS					UNREALIZED LOSSES 12 MONTHS OR GREATER					TOTAL
October 29, 2011	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Fixed income securities:
U.S. government securities	$	4,767	$	(5	)	$	—	$	—		$	4,767	$	(5	)
U.S. government agency securities ⁽¹⁾		2,490		(4	)		—		—			2,490		(4	)
Non-U.S. government and agency securities ⁽²⁾		1,603		(3	)		—		—			1,603		(3	)
Corporate debt securities		1,528		(19	)		68		(4	)		1,596		(23	)
Asset-backed securities		—		—			101		(4	)		101		(4	)

Total fixed income securities		10,388		(31	)		169		(8	)		10,557		(39	)
Publicly traded equity securities		25		(3	)		—		—			25		(3	)

Total	$	10,413	$	(34	)	$	169	$	(8	)	$	10,582	$	(42	)



	UNREALIZED LOSSES LESS THAN 12 MONTHS					UNREALIZED LOSSES 12 MONTHS OR GREATER					TOTAL
July 30, 2011	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Fixed income securities:
U.S. government agency securities ⁽¹⁾	$	2,310	$	(1	)	$	—	$	—		$	2,310	$	(1	)
Non-U.S. government and agency securities ⁽²⁾		875		(1	)		—		—			875		(1	)
Corporate debt securities		548		(2	)		56		(2	)		604		(4	)
Asset-backed securities		—		—			105		(4	)		105		(4	)

Total fixed income securities		3,733		(4	)		161		(6	)		3,894		(10	)
Publicly traded equity securities		112		(12	)		—		—			112		(12	)

Total	$	3,845	$	(16	)	$	161	$	(6	)	$	4,006	$	(22	)

⁽¹⁾	Includes corporate debt securities that are guaranteed by the FDIC.

⁽²⁾	Includes agency and corporate debt securities that are guaranteed by non-U.S. governments.

For fixed income securities that have unrealized losses as of October 29, 2011, the Company has determined that (i) it does not have the intent to sell any of these investments and (ii) it is not more likely than not that it will be required to sell any of these investments before recovery of the entire amortized cost basis. In addition, as of October 29, 2011, the Company anticipates that it will recover the entire amortized cost basis of such fixed income securities and has determined that no other-than-temporary impairments associated with credit losses were required to be recognized during the three months ended October 29, 2011.

The Company has evaluated its publicly traded equity securities as of October 29, 2011 and has determined that there was no indication of other-than-temporary impairments in the respective categories of unrealized losses. This determination was based on several factors, which include the length of time and extent to which fair value has been less than the cost basis, the financial condition and near-term prospects of the issuer, and the Company's intent and ability to hold the publicly traded equity securities for a period of time sufficient to allow for any anticipated recovery in market value.

(c) Maturities of Fixed Income Securities

The following table summarizes the maturities of the Company's fixed income securities at October 29, 2011 (in millions):


	Amortized Cost		Fair Value
Less than 1 year	$	18,989	$	19,017
Due in 1 to 2 years		11,927		11,971
Due in 2 to 5 years		7,045		7,069
Due after 5 years		202		207

Total	$	38,163	$	38,264

Actual maturities may differ from the contractual maturities because borrowers may have the right to call or prepay certain obligations.

(d) Securities Lending

The Company periodically engages in securities lending activities with certain of its available-for-sale investments. These transactions are accounted for as a secured lending of the securities, and the securities are typically loaned only on an overnight basis. The average balance of securities lending for the three months ended October 29, 2011 and October 30, 2010 was $1.7 billion and $2.1 billion, respectively. The Company requires collateral equal to at least 102% of the fair market value of the loaned security in the form of cash or liquid, high-quality assets. The Company engages in these secured lending transactions only with highly creditworthy counterparties, and the associated portfolio custodian has agreed to indemnify the Company against any collateral losses. The Company did not experience any losses in connection with the secured lending of securities during the periods presented. As of October 29, 2011 and July 30, 2011, the Company had no outstanding securities lending transactions.

Fair Value

9.	Fair Value

Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact, and it considers assumptions that market participants would use when pricing the asset or liability.

(a) Fair Value Hierarchy

The accounting guidance for fair value measurement requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is as follows

Level 1 Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2 Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

Level 3 Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

(b) Assets and Liabilities Measured at Fair Value on a Recurring Basis

Assets and liabilities measured at fair value on a recurring basis as of October 29, 2011 and July 30, 2011 were as follows (in millions):


	OCTOBER 29, 2011 FAIR VALUE MEASUREMENTS								JULY 30, 2011 FAIR VALUE MEASUREMENTS
	Level 1		Level 2		Level 3		Total Balance		Level 1		Level 2		Level 3		Total Balance
Assets
Cash equivalents:
Money market funds	$	3,136	$	—	$	—	$	3,136	$	5,852	$	—	$	—	$	5,852
U.S. government agency securities ⁽¹⁾		—		—		—		—		—		1		—		1
Available-for-sale investments:
U.S. government securities		—		20,254		—		20,254		—		19,139		—		19,139
U.S. government agency securities ⁽¹⁾		—		10,049		—		10,049		—		8,776		—		8,776
Non-U.S. government and agency securities⁽²⁾		—		3,525		—		3,525		—		3,132		—		3,132
Corporate debt securities		—		4,320		—		4,320		—		4,394		—		4,394
Asset-backed securities		—		—		116		116		—		—		121		121
Publicly traded equity securities		1,377		—		—		1,377		1,361		—		—		1,361
Derivative assets		—		242		1		243		—		220		2		222

Total	$	4,513	$	38,390	$	117	$	43,020	$	7,213	$	35,662	$	123	$	42,998

Liabilities:
Derivative liabilities	$	—	$	42	$	—	$	42	$	—	$	24	$	—	$	24

Total	$	—	$	42	$	—	$	42	$	—	$	24	$	—	$	24

⁽¹⁾	Includes corporate debt securities that are guaranteed by the FDIC.

⁽²⁾	Includes agency and corporate debt securities that are guaranteed by non-U.S. governments.

Level 2 fixed income securities are priced using quoted market prices for similar instruments or nonbinding market prices that are corroborated by observable market data. The Company uses 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. The Company uses such pricing data as the primary input to make its assessments and determinations as to the ultimate valuation of its investment portfolio and has not made, during the periods presented, any material adjustments to such inputs. The Company is ultimately responsible for the financial statements and underlying estimates. The Company's 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. The Company did not have any transfers between Level 1 and Level 2 fair value measurements during the periods presented.

Level 3 assets include asset-backed securities and certain derivative instruments, the values of which are determined based on discounted cash flow models using inputs that the Company could not corroborate with market data.

The following tables present a reconciliation for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended October 29, 2011 and October 30, 2010 (in millions):


	Asset-Backed Securities			Derivative Assets			Total
Balance at July 30, 2011	$	121		$	2		$	123
Total gains and losses (realized and unrealized):
Included in other income, net		—			(1	)		(1	)
Sales and maturities		(5	)		—			(5	)

Balance at October 29, 2011	$	116		$	1		$	117

Losses attributable to assets still held as of October 29, 2011	$	—		$	(1	)	$	(1	)



	Asset-Backed Securities			Derivative Assets			Total
Balance at July 31, 2010	$	149		$	3		$	152
Total gains and losses (realized and unrealized):
Included in other income, net		—			(1	)		(1	)
Included in other comprehensive income		(1	)		—			(1	)
Sales and maturities		(6	)		—			(6	)

Balance at October 30, 2010	$	142		$	2		$	144

Losses attributable to assets still held as of October 30, 2010	$	—		$	(1	)	$	(1	)

(c) Assets Measured at Fair Value on a Nonrecurring Basis

The following tables present the Company's financial instruments and nonfinancial assets that were measured at fair value on a nonrecurring basis during the indicated periods and the related recognized gains and losses for the periods (in millions):


			FAIR VALUE MEASUREMENTS USING
	Net Carrying Value as of October 29, 2011		Level 1		Level 2		Level 3		Total Losses for the Three Months Ended October 29, 2011
Investments in privately held companies	$	1	$	—	$	—	$	1	$	1
Property held for sale	$	24	$	—	$	—	$	24		89

Total									$	90



			FAIR VALUE MEASUREMENTS USING
	Net Carrying Value as of October 30, 2010		Level 1		Level 2		Level 3		Total Losses for the Three Months Ended October 30, 2010
Investments in privately held companies	$	9	$	—	$	—	$	9	$	3

The assets in the preceding tables were classified as Level 3 assets because the Company used unobservable inputs to value them, reflecting the Company's assessment of the assumptions market participants would use in pricing these assets due to the absence of quoted market prices and the inherent lack of liquidity. These assets were measured at fair value due to events or circumstances the Company identified as having significantly impacted the fair value during the respective indicated periods.

The fair value for investments in privately held companies was measured using financial metrics, comparison to other private and public companies, and analysis of the financial condition and near-term prospects of the issuers, including recent financing activities and their capital structure as well as other economic variables. The impairment as a result of the evaluation for the investments in privately held companies was recorded to other income, net.

The fair value of property held for sale was measured using discounted cash flow techniques.

(d) Other

The fair value of certain of the Company's financial instruments that are not measured at fair value, including accounts receivable, accounts payable, accrued compensation and other current liabilities, approximates the carrying amount because of their short maturities. In addition, the fair value of the Company's loan receivables and financed service contracts also approximates the carrying amount. The fair value of the Company's debt is disclosed in Note 10 and was determined using quoted market prices for those securities.

Borrowings

10.

Borrowings

(a) Short-Term Debt

The following table summarizes the Company's short-term debt (in millions, except percentages):


	October 29, 2011					July 30, 2011
	Amount		Weighted-Average Interest Rate			Amount		Weighted-Average Interest Rate
Commercial paper	$	500		0.13	%	$	500		0.14	%
Other notes and borrowings		89		6.12	%		88		4.59	%

Total short-term debt	$	589				$	588

In fiscal 2011, the Company established a short-term debt financing program of up to $3.0 billion through the issuance of commercial paper notes. The Company used the proceeds from the issuance of commercial paper notes for general corporate purposes, including repayment of matured debt, if applicable. The outstanding commercial paper as of October 29, 2011 and July 30, 2011 had maturity dates of approximately three months or less.

Other notes and borrowings in the preceding table consist of notes and credit facilities established with a number of financial institutions that are available to certain foreign subsidiaries of the Company. These notes and credit facilities are subject to various terms and foreign currency market interest rates pursuant to individual financial arrangements between the financing institution and the applicable foreign subsidiary.

As of October 29, 2011, the estimated fair value of the short-term debt approximates its carrying value due to the short maturities.

(b) Long-Term Debt

The following table summarizes the Company's long-term debt (in millions, except percentages):


	October 29, 2011						July 30, 2011
	Amount			Effective Rate			Amount			Effective Rate
Senior Notes:
Floating-rate notes, due 2014	$	1,250			0.69	%	$	1,250			0.60	%
2.90% fixed-rate notes, due 2014		500			3.11	%		500			3.11	%
1.625% fixed-rate notes, due 2014		2,000			0.67	%		2,000			0.58	%
5.50% fixed-rate notes, due 2016		3,000			3.08	%		3,000			3.06	%
3.15% fixed-rate notes, due 2017		750			0.91	%		750			0.81	%
4.95% fixed-rate notes, due 2019		2,000			5.08	%		2,000			5.08	%
4.45% fixed-rate notes, due 2020		2,500			4.50	%		2,500			4.50	%
5.90% fixed-rate notes, due 2039		2,000			6.11	%		2,000			6.11	%
5.50% fixed-rate notes, due 2040		2,000			5.67	%		2,000			5.67	%

Total		16,000						16,000
Unaccreted discount		(72	)					(73	)
Hedge accounting adjustment		336						307

Total long-term debt	$	16,264					$	16,234

To achieve its interest rate risk management objectives, the Company entered into interest rate swaps with an aggregate notional amount of $4.25 billion designated as fair value hedges of certain fixed-rate senior notes. In effect, these swaps convert the fixed interest rates of the fixed-rate notes to floating interest rates based on the London InterBank Offered Rate ("LIBOR"). 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. See Note 11.

The effective rates for the fixed-rate debt include the interest on the notes, the accretion of the discount, and, if applicable, adjustments related to hedging. Based on market prices, the fair value of the Company's long-term debt was $17.9 billion as of October 29, 2011. Interest is payable semiannually on each class of the senior fixed-rate notes and payable quarterly on the floating-rate notes. Each of the senior fixed-rate notes is redeemable by the Company at any time, subject to a make-whole premium.

The senior notes rank at par with the issued commercial paper notes, as well as any other commercial paper notes that may be issued in the future pursuant to the short-term debt financing program, as discussed earlier under "Short-Term Debt." The Company was in compliance with all debt covenants as of October 29, 2011.

Future principal payments for long-term debt as of October 29, 2011 are summarized as follows (in millions):


Fiscal Year	Amount
2014	$	3,250
2015		500
2016		3,000
Thereafter		9,250

Total	$	16,000

(c) Credit Facility

The Company has a credit agreement with certain institutional lenders providing for a $3.0 billion unsecured revolving credit facility that is scheduled to expire on August 17, 2012. Any advances under the credit agreement will accrue interest at rates that are equal to, based on certain conditions, either (i) the higher of the Federal Funds rate plus 0.50% or Bank of America's "prime rate" as announced from time to time or (ii) LIBOR plus a margin that is based on the Company's senior debt credit ratings as published by Standard & Poor's Ratings Services and Moody's Investors Service, Inc. The credit agreement requires the Company to comply with certain covenants, including that it maintain an interest coverage ratio as defined in the agreement. The Company was in compliance with the required interest coverage ratio and the other covenants as of October 29, 2011.

The Company may also, upon the agreement of either the then-existing lenders or additional lenders not currently parties to the agreement, increase the commitments under the credit facility by up to an additional $1.9 billion and/or extend the expiration date of the credit facility up to August 15, 2014. As of October 29, 2011, the Company had not borrowed any funds under the credit facility.

Derivative Instruments

11.

Derivative Instruments

(a) Summary of Derivative Instruments

The Company uses derivative instruments primarily to manage exposures to foreign currency exchange rate, interest rate, and equity price risks. The Company's 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. The Company's derivatives expose it to credit risk to the extent that the counterparties may be unable to meet the terms of the agreement. The Company does, however, seek to mitigate such risks by limiting its counterparties to major financial institutions. In addition, the potential risk of loss with any one counterparty resulting from this type of credit risk is monitored. Management does not expect material losses as a result of defaults by counterparties.

The fair values of the Company's 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	October 29, 2011		July 30, 2011		Balance Sheet Line Item	October 29, 2011		July 30, 2011
Derivatives designated as hedging instruments:
Foreign currency derivatives	Other current assets	$	32	$	67	Other current liabilities	$	30	$	12
Interest rate derivatives	Other assets		180		146	Other long-term liabilities		—		—

Total		$	212	$	213		$	30	$	12

Derivatives not designated as hedging instruments:
Foreign currency derivatives	Other current assets	$	30	$	7	Other current liabilities	$	12	$	12
Equity derivatives	Other assets		1		2	Other long-term liabilities		—		—

Total			31		9			12		12

Total		$	243	$	222		$	42	$	24

The effects of the Company's cash flow hedging instruments on other comprehensive income (OCI) and the Consolidated Statements of Operations are summarized as follows (in millions):


GAINS (LOSSES) RECOGNIZED IN OCI ON DERIVATIVES FOR THE THREE MONTHS ENDED (EFFECTIVE PORTION)						GAINS (LOSSES) RECLASSIFIED FROM AOCI INTO INCOME FOR THE THREE MONTHS ENDED
Derivatives Designated as Cash Flow Hedging Instruments	October 29, 2011			October 30, 2010		Line Item in Statements of Operations	October 29, 2011		October 30, 2010
Foreign currency derivatives	$	(50	)	$	55	Operating expenses	$	—	$	6
						Cost of sales–service		—		1

Total	$	(50	)	$	55		$	—	$	7

During the three months ended October 29, 2011 and October 30, 2010, the amounts recognized in earnings on derivative instruments designated as cash flow hedges related to the ineffective portion were not material, and the Company did not exclude any component of the changes in fair value of the derivative instruments from the assessment of hedge effectiveness. As of October 29, 2011, the Company estimates that approximately $32 million of net derivative losses related to its cash flow hedges included in AOCI will be reclassified into earnings within the next 12 months.

The effect on the Consolidated Statements of Operations of derivative instruments designated as fair value hedges and the underlying hedged items is summarized as follows (in millions):


		GAINS (LOSSES) ON DERIVATIVES INSTRUMENTS FOR THE THREE MONTHS ENDED				GAINS (LOSSES) RELATED TO HEDGED ITEMS FOR THE THREE MONTHS ENDED
Derivatives Designated as Fair Value Hedging Instruments	Line Item in Statements of Operations	October 29, 2011		October 30, 2010		October 29, 2011			October 30, 2010
Interest rate derivatives	Interest expense	$	35	$	30	$	(36	)	$	(32	)

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
Derivatives Not Designated as Hedging Instruments	Line Item in Statements of Operations	October 29, 2011			October 30, 2010
Foreign currency derivatives	Other income, net	$	(57	)	$	114
Total return swaps-deferred compensation	Operating expenses		(20	)		11
Equity derivatives	Other income, net		7			5

Total		$	(70	)	$	130

The notional amounts of the Company's outstanding derivatives are summarized as follows (in millions):


	October 29, 2011		July 30, 2011
Derivatives designated as hedging instruments:
Foreign currency derivatives–cash flow hedges	$	2,707	$	3,433
Interest rate derivatives		4,250		4,250
Net investment hedging instruments		68		73
Derivatives not designated as hedging instruments:
Foreign currency derivatives		5,220		4,565
Total return swaps		262		262

Total	$	12,507	$	12,583

(b) Foreign Currency Exchange Risk

The Company conducts business globally in numerous currencies. Therefore, it is exposed to adverse movements in foreign currency exchange rates. To limit the exposure related to foreign currency changes, the Company enters into foreign currency contracts. The Company does not enter into such contracts for trading purposes.

The Company hedges foreign currency forecasted transactions related to certain operating expenses and service cost of sales with currency options and forward contracts. These currency option and forward contracts, designated as cash flow hedges, generally have maturities of less than 18 months. The Company assesses effectiveness based on changes in total fair value of the derivatives. The effective portion of the derivative instrument's gain or loss is initially reported as a component of AOCI and subsequently reclassified into earnings when the hedged exposure affects earnings. The ineffective portion, if any, of the gain or loss is reported in earnings immediately. During the fiscal years presented, the Company did not discontinue any cash flow hedge for which it was probable that a forecasted transaction would not occur.

The Company enters 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, including long-term customer financings, investments, and payables. These derivatives are not designated as hedging instruments. Gains and losses on the contracts are included in other income, net, and substantially offset foreign exchange gains and losses from the remeasurement of intercompany balances or other current assets, investments, or liabilities denominated in currencies other than the functional currency of the reporting entity.

The Company hedges certain net investments in its foreign subsidiaries with forward contracts, which generally have maturities of up to six months. The Company recognized a loss of $4 million and $5 million in OCI for the effective portion of its net investment hedges for the three months ended October 29, 2011 and October 30, 2010, respectively.

(c) Interest Rate Risk

Interest Rate Derivatives, Investments The Company's primary objective for holding fixed income securities is to achieve an appropriate investment return consistent with preserving principal and managing risk. To realize these objectives, the Company may utilize interest rate swaps or other derivatives designated as fair value or cash flow hedges. As of October 29, 2011 and July 30, 2011 the Company did not have any outstanding interest rate derivatives related to its fixed income securities.

Interest Rate Derivatives Designated as Fair Value Hedge, Long-Term Debt In fiscal 2011, the Company entered into interest rate swaps designated as fair value hedges related to fixed-rate senior notes that were issued in March 2011 and are due in 2014 and 2017. In fiscal 2010, the Company entered into interest rate swaps designated as fair value hedges for a portion of senior fixed-rate notes that were issued in 2006 and are due in 2016. Under these interest rate swaps, the Company receives fixed-rate interest payments and makes interest payments based on LIBOR 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 LIBOR. 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. The fair value of the interest rate swaps was reflected in other assets.

(d) Equity Price Risk

The Company may hold equity securities for strategic purposes or to diversify its overall investment portfolio. The publicly traded equity securities in the Company's portfolio are subject to price risk. To manage its exposure to changes in the fair value of certain equity securities, the Company may enter into equity derivatives that are designated as fair value hedges. The changes in the value of the hedging instruments are included in other income (loss), net, and offset the change in the fair value of the underlying hedged investment. In addition, the Company periodically manages the risk of its investment portfolio by entering into equity derivatives that are not designated as accounting hedges. The changes in the fair value of these derivatives were also included in other income (loss), net. The Company did not have any equity derivatives outstanding related to its investment portfolio at October 29, 2011 and July 30, 2011.

The Company is also exposed to variability in compensation charges related to certain deferred compensation obligations to employees. Although not designated as accounting hedges, the Company utilizes derivatives such as total return swaps to economically hedge this exposure. The fair value of such derivative instruments was negligible as of October 29, 2011.

(e) Credit-Risk-Related Contingent Features

Certain derivative instruments are executed under agreements that have provisions requiring the Company and the counterparty to maintain a specified credit rating from certain credit rating agencies. If the Company's or the counterparty's credit rating falls below a specified credit rating, either party has the right to request collateral on the derivatives' net liability position. Such provisions did not affect the Company's financial position as of October 29, 2011 and July 30, 2011.

Commitments And Contingencies

12.

Commitments and Contingencies

(a) Operating Leases

The Company leases office space in several U.S. locations. Outside the United States, larger leased sites include sites in Australia, Belgium, China, Germany, India, Israel, Italy, Japan, Norway, and the United Kingdom. The Company also leases equipment and vehicles. Future minimum lease payments under all noncancelable operating leases with an initial term in excess of one year as of October 29, 2011 are as follows (in millions):


Fiscal Year	Amount
2012 (remaining nine months)	$	253
2013		256
2014		189
2015		155
2016		67
Thereafter		267

Total	$	1,187

(b) Purchase Commitments with Contract Manufacturers and Suppliers

The Company purchases components from a variety of suppliers and uses several contract manufacturers to provide manufacturing services for its products. During the normal course of business, in order to manage manufacturing lead times and help ensure adequate component supply, the Company enters into agreements with contract manufacturers and suppliers that either allow them to procure inventory based upon criteria as defined by the Company or that establish the parameters defining the Company's requirements. A significant portion of the Company's reported purchase commitments arising from these agreements consists of firm, noncancelable, and unconditional commitments. In certain instances, these agreements allow the Company the option to cancel, reschedule, and adjust the Company's requirements based on its business needs prior to firm orders being placed. As of October 29, 2011 and July 30, 2011, the Company had total purchase commitments for inventory of $4.178 billion and $4.313 billion, respectively.

The Company records a liability for firm, noncancelable, and unconditional purchase commitments for quantities in excess of its future demand forecasts consistent with the valuation of the Company's excess and obsolete inventory. As of October 29, 2011 and July 30, 2011, the liability for these purchase commitments was $164 million and $168 million, respectively, and was included in other current liabilities.

(c) Other Commitments

In connection with the Company's business combinations and asset purchases, the Company has agreed to pay certain additional amounts contingent upon the achievement of certain agreed-upon-technology, development, product, or other milestones or the continued employment with the Company of certain employees of the acquired entities. The Company recognized such compensation expense of $14 million and $37 million during the three months ended October 29, 2011 and October 30, 2010, respectively. The largest component of this compensation expense during both periods was related to milestone payments made to former noncontrolling interest holders of Nuova Systems, Inc., the remaining interest of which the Company purchased in fiscal 2008. As of October 29, 2011, the Company estimated that future compensation expense and contingent consideration of up to $53 million may be required to be recognized pursuant to the applicable business combination and asset purchase agreements.

The Company also has certain funding commitments, primarily related to its investments in privately held companies and venture funds, some of which are based on the achievement of certain agreed-upon milestones, and some of which are required to be funded on demand. The funding commitments were $145 million and $192 million as of October 29, 2011 and July 30, 2011, respectively.

(d) Variable Interest Entities

In the ordinary course of business, the Company has investments in privately held companies and provides financing to certain customers. These privately held companies and customers may be considered to be variable interest entities. The Company evaluates on an ongoing basis its investments in these privately held companies and its customer financings and has determined that as of October 29, 2011 there were no material unconsolidated variable interest entities.

VCE is a joint venture that the Company formed in fiscal 2010 with EMC Corporation ("EMC"), with investments from VMware, Inc. ("VMware") and Intel Corporation. VCE helps organizations leverage best-in-class technologies and disciplines from Cisco, EMC and VMware to enable the transformation to cloud computing.

During the three months ended October 29, 2011, the Company invested an additional $96 million in VCE. As of October 29, 2011, the Company's cumulative investment in VCE entity was approximately $205 million. The Company's ownership percentage has remained unchanged since inception at approximately 35% of the outstanding equity of VCE. The Company accounts for its investment in VCE under the equity method, and accordingly its carrying value in VCE as of October 29, 2011 was $95 million, reflecting its cumulative share of VCE's losses. Over the next 12 months, as VCE scales its operations, the Company expects that it will make additional investments in VCE and may incur additional losses proportionate with the Company's ownership percentage.

(e) Product Warranties and Guarantees

The following table summarizes the activity related to product warranty liability during the three months ended October 29, 2011 and October 30, 2010 (in millions):


	Three Months Ended
	October 29, 2011			October 30, 2010
Balance at beginning of period	$	342		$	360
Provision for warranties issued		151			110
Payments		(132	)		(120	)

Balance at end of period	$	361		$	350

The Company accrues for warranty costs as part of its cost of sales based on associated material product costs, labor costs for technical support staff, and associated overhead. The Company's products are generally covered by a warranty for periods ranging from 90 days to five years, and for some products the Company provides a limited lifetime warranty.

In the normal course of business, the Company indemnifies other parties, including customers, lessors, and parties to other transactions with the Company, with respect to certain matters. The Company has agreed to hold the other parties harmless 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 within which an indemnification claim can be made and the amount of the claim. In addition, the Company has entered into indemnification agreements with its officers and directors, and the Company's Amended and Restated Bylaws contain similar indemnification obligations to the Company's agents. It is not possible to determine the maximum potential amount under these indemnification agreements due to the Company's limited history with prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, payments made by the Company under these agreements have not had a material effect on the Company's operating results, financial position, or cash flows.

The Company also provides financing guarantees, which are generally for various third-party financing arrangements to channel partners and other end-user customers. See Note 7. The Company's other guarantee arrangements as of October 29, 2011 that are subject to recognition and disclosure requirements were not material.

(f) Legal Proceedings

Brazilian authorities have investigated the Company's Brazilian subsidiary and certain of its current and former employees, as well as a Brazilian importer of the Company's 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 the Company's Brazilian subsidiary based on a theory of joint liability with the Brazilian importer for import taxes and related penalties. In addition to claims asserted during prior fiscal years by Brazilian federal tax authorities, tax authorities from the Brazilian state of Sao Paulo asserted similar claims on the same legal basis during the second quarter of fiscal 2011.

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 aggregated to approximately $483 million for the alleged evasion of import taxes, approximately $929 million for interest, and approximately $2.2 billion for various penalties, all determined using an exchange rate as of October 29, 2011. The Company has completed a thorough review of the matter and believes the asserted tax claims against it are without merit, and the Company intends to defend the claims vigorously. While the Company believes there is no legal basis for its 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, the Company is unable to determine the likelihood of an unfavorable outcome against it and is unable to reasonably estimate a range of loss, if any. The Company does not expect a final judicial determination for several years.

On March 31, 2011, a purported shareholder class action lawsuit was filed in the United States District Court for the Northern District of California against the Company and certain of its officers and directors. A second lawsuit with substantially similar allegations was filed with the same court on April 12, 2011 against the Company and certain of its officers and directors. The lawsuits are purportedly brought on behalf of those who purchased the Company's publicly traded securities between May 12, 2010 and February 9, 2011, and between February 3, 2010 and February 9, 2011, respectively. Plaintiffs allege that defendants made false and misleading statements during quarterly earnings calls, purport to assert claims for violations of the federal securities laws, and seek unspecified compensatory damages and other relief. The Company believes the claims are without merit and intends to defend the actions vigorously. While the Company believes there is no legal basis for liability, due to the uncertainty surrounding the litigation process, the Company is unable to reasonably estimate a range of loss, if any, at this time.

Beginning in April 2011, purported shareholder derivative lawsuits were filed in both the United States District Court for the Northern District of California and the California Superior Court for the County of Santa Clara against the Company's Board of Directors and several of its officers alleging that the Board allowed management to make allegedly false statements during earnings calls. The Company's management of its stock repurchase program is also alleged to have breached a fiduciary duty. The complaints include claims for violation of the federal securities laws, breach of fiduciary duty, aiding and abetting breaches of fiduciary duty, waste of corporate assets, unjust enrichment, and violations of the California Corporations Code. The complaint seeks compensatory damages, disgorgement, and other relief.

In addition, the Company is subject to legal proceedings, claims, and litigation arising in the ordinary course of business, including intellectual property litigation. While the outcome of these matters is currently not determinable, the Company does not expect that the ultimate costs to resolve these matters will have a material adverse effect on its consolidated financial position, results of operations, or cash flows.

Shareholders' Equity

13.

Shareholders' Equity

(a) Stock Repurchase Program

In September 2001, the Company's Board of Directors authorized a stock repurchase program. As of October 29, 2011, the Company's Board of Directors had authorized an aggregate repurchase of up to $82 billion of common stock under this program and the remaining authorized repurchase amount was $8.7 billion with no termination date. A summary of the stock repurchase activity under the stock repurchase program, reported based on the trade date, is summarized as follows (in millions, except per-share amounts):


	Shares Repurchased		Weighted- Average Price per Share		Amount Repurchased
Cumulative balance at July 30, 2011		3,478	$	20.64	$	71,773
Repurchase of common stock under the stock repurchase program		100		15.37		1,544

Cumulative balance at October 29, 2011		3,578	$	20.49	$	73,317

The purchase price for the shares of the Company's stock repurchased is reflected as a reduction to shareholders' equity. The Company is required to allocate the purchase price of the repurchased shares as (i) a reduction to retained earnings until retained earnings are zero and then as an increase to accumulated deficit and (ii) a reduction of common stock and additional paid-in capital. Issuance of common stock and the tax benefit related to employee stock incentive plans are recorded as an increase to common stock and additional paid-in capital.

(b) Cash Dividends on Shares of Common Stock

During the three months ended October 29, 2011, cash dividends of $0.06 per share, or $322 million were declared and paid on the Company's outstanding common stock. Any future dividends will be subject to the approval of the Company's Board of Directors.

(c) Other Repurchases of Common Stock

For the three months ended October 29, 2011 and October 30, 2010, the Company repurchased approximately 9 million and 6 million shares, or $137 million and $127 million of common stock, respectively, in settlement of employee tax withholding obligations due upon the vesting of restricted stock or stock units.

(d) Comprehensive Income

The components of comprehensive income for the three months ended October 29, 2011 and October 30, 2010 are as follows (in millions):


	Three Months Ended
	October 29, 2011			October 30, 2010
Net income	$	1,777		$	1,930
Other comprehensive income:
Change in unrealized gains and losses on investments, net of tax benefit (expense) of $28 and ($17) for the first quarters of fiscal 2012 and 2011, respectively		(59	)		42
Change in derivative instruments		(50	)		49
Change in cumulative translation adjustment and other, net of tax benefit (expense) of $21 and ($10) for the first quarters of fiscal 2012 and 2011, respectively		(211	)		238

Comprehensive income		1,457			2,259
Comprehensive loss (income) attributable to noncontrolling interests		7			(2	)

Comprehensive income attributable to Cisco	$	1,464		$	2,257

The components of AOCI, net of tax, are summarized as follows (in millions):


	October 29, 2011			July 30, 2011
Net unrealized gains on investments	$	435		$	487
Net unrealized (losses) gains on derivative instruments		(44	)		6
Cumulative translation adjustment and other		590			801

Total	$	981		$	1,294

Employee Stock Benefit Plans

14.

Employee Stock Benefit Plans

(a) Employee Stock Incentive Plans

Stock Incentive Plan Program Description As of October 29, 2011, the Company had five stock incentive plans: the 2005 Stock Incentive Plan (the "2005 Plan"); the 1996 Stock Incentive Plan (the "1996 Plan"); the 1997 Supplemental Stock Incentive Plan (the "Supplemental Plan"); the Cisco Systems, Inc. SA Acquisition Long-Term Incentive Plan (the "SA Acquisition Plan"); and the Cisco Systems, Inc. WebEx Acquisition Long-Term Incentive Plan (the "WebEx Acquisition Plan"). In addition, the Company has, in connection with the 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 the Company and provide incentives for them to remain with the Company. The number and frequency of share-based awards are based on competitive practices, operating results of the Company, government regulations, and other factors. Since the inception of the stock incentive plans, the Company has granted share-based awards to a significant percentage of its employees, and the majority has been granted to employees below the vice president level. The Company's primary stock incentive plans are summarized as follows:

2005 Plan As amended on November 15, 2007, the maximum number of shares issuable under the 2005 Plan over its term is 559 million shares plus the amount of any shares underlying awards outstanding on November 15, 2007 under the 1996 Plan, the SA Acquisition Plan, and the WebEx Acquisition Plan that are forfeited or are terminated for any other reason before being exercised or settled. If any awards granted under the 2005 Plan are forfeited or are terminated for any other reason before being exercised or settled, then the shares underlying the awards will again be available under the 2005 Plan.

Pursuant to an amendment approved by the Company's shareholders on November 12, 2009, the number of shares available for issuance under the 2005 Plan was reduced by 1.5 shares for each share awarded as a stock grant or a stock unit, and any shares underlying awards outstanding under the 1996 Plan, the SA Acquisition Plan, and the WebEx Acquisition Plan that expire unexercised at the end of their maximum terms become available for reissuance under the 2005 Plan. The 2005 Plan permits the granting of stock options, stock, stock units, and stock appreciation rights to employees (including employee directors and officers), consultants of the Company and its subsidiaries and affiliates, and non-employee directors of the Company. Stock options and stock appreciation rights granted under the 2005 Plan have an exercise price of at least 100% of the fair market value of the underlying stock on the grant date and prior to November 12, 2009 have an expiration date no later than nine years from the grant date. The expiration date for stock options and stock appreciation rights granted subsequent to the amendment approved on November 12, 2009 shall be no later than ten years from the grant date. The stock options will generally become exercisable for 20% or 25% of the option shares one year from the date of grant and then ratably over the following 48 or 36 months, respectively. Stock grants and stock units will generally vest with respect to 20% or 25% of the shares covered by the grant on each of the first through fifth or fourth anniversaries of the date of the grant, respectively. The Compensation and Management Development Committee of the Board of Directors has the discretion to use different vesting schedules. Stock appreciation rights may be awarded in combination with stock options or stock grants, and such awards shall provide that the stock appreciation rights will not be exercisable unless the related stock options or stock grants are forfeited. Stock grants may be awarded in combination with non-statutory stock options, and such awards may provide that the stock grants will be forfeited in the event that the related non-statutory stock options are exercised.

1996 Plan The 1996 Plan expired on December 31, 2006, and the Company can no longer make equity awards under the 1996 Plan. The maximum number of shares issuable over the term of the 1996 Plan was 2.5 billion shares. Stock options granted under the 1996 Plan have an exercise price of at least 100% of the fair market value of the underlying stock on the grant date and expire no later than nine years from the grant date. The stock options generally become exercisable for 20% or 25% of the option shares one year from the date of grant and then ratably over the following 48 or 36 months, respectively. Certain other grants have utilized a 60-month ratable vesting schedule. In addition, the Board of Directors, or other committees administering the plan, have the discretion to use a different vesting schedule and have done so from time to time.

Supplemental Plan The Supplemental Plan expired on December 31, 2007, and the Company can no longer make equity awards under the Supplemental Plan. Officers and members of the Company's Board of Directors were not eligible to participate in the Supplemental Plan. Nine million shares were reserved for issuance under the Supplemental Plan.

Acquisition Plans In connection with the Company's acquisitions of Scientific-Atlanta, Inc. ("Scientific-Atlanta") and WebEx Communications, Inc. ("WebEx"), the Company adopted the SA Acquisition Plan and the WebEx Acquisition Plan, respectively, each effective upon completion of the applicable acquisition. These plans constitute assumptions, amendments, restatements, and renamings of the 2003 Long-Term Incentive Plan of Scientific-Atlanta and the WebEx Communications, Inc. Amended and Restated 2000 Stock Incentive Plan, respectively. The plans permit the grant of stock options, stock, stock units, and stock appreciation rights to certain employees of the Company and its subsidiaries and affiliates who had been employed by Scientific-Atlanta or its subsidiaries or WebEx or its subsidiaries, as applicable. As a result of the shareholder approval of the amendment and extension of the 2005 Plan, as of November 15, 2007, the Company will no longer make stock option grants or direct share issuances under either the SA Acquisition Plan or the WebEx Acquisition Plan.

(b) Employee Stock Purchase Plan

The Company has an Employee Stock Purchase Plan, which includes its subplan, the International Employee Stock Purchase Plan (together, the "Purchase Plan"), under which 471.4 million shares of the Company's common stock have been reserved for issuance as of October 29, 2011. 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 number of shares of the Company's stock at a discount of up to 15% of the lesser of the market value at the beginning of the offering period or the end of each 6-month purchase period. The Purchase Plan is scheduled to terminate on January 3, 2020. No shares were issued under the Purchase Plan during the three months ended October 29, 2011 and October 30, 2010. As of October 29, 2011, 122 million shares were available for issuance under the Purchase Plan.

(c) Summary of Share-Based Compensation Expense

Share-based compensation expense consists primarily of expenses for stock options, stock purchase rights, restricted stock, and restricted stock units granted to employees. The following table summarizes share-based compensation expense (in millions):


	Three Months Ended
	October 29, 2011		October 30, 2010
Cost of sales – product	$	13	$	15
Cost of sales – service		37		43

Share-based compensation expense in cost of sales		50		58

Research and development		101		121
Sales and marketing		142		164
General and administrative		48		64

Share-based compensation expense in operating expenses		291		349

Total share-based compensation expense	$	341	$	407

As of October 29, 2011, total compensation cost related to unvested share-based awards not yet recognized was $2.7 billion, which is expected to be recognized over approximately 2.2 years on a weighted-average basis. The income tax benefit for share-based compensation expense was $90 million and $109 million for the three months ended October 29, 2011 and October 30, 2010, respectively.

The fair value of restricted stock units was measured based on the grant-date share price adjusted for expected dividend yield. The Company estimates the fair value of employee stock options on the date of grant using a lattice-binomial model. The lattice-binomial model is more capable than the Black-Scholes model of incorporating the features of the Company's employee stock options, such as the vesting provisions and various restrictions, including restrictions on transfer and hedging, among others, and the fact that options are often exercised prior to their contractual maturity. The use of the lattice-binomial model also requires extensive actual employee exercise behavior data for the relative probability estimation purpose and a number of complex assumptions, including expected volatility, risk-free interest rate, expected dividends, kurtosis, and skewness.

The Company uses third-party analyses to assist in developing the assumptions used in, as well as calibrating, its lattice-binomial model. The Company is responsible for determining the assumptions used in estimating the fair value of its share-based payment awards. The Company's determination of the fair value of share-based payment awards is affected by assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, the Company's expected stock price volatility over the term of the awards and actual and projected employee stock option exercise behaviors. Option-pricing models were developed for use in estimating the value of traded options that have no vesting or hedging restrictions and are fully transferable. Because the Company's employee stock options have certain characteristics that are significantly different from traded options, and because changes in the subjective assumptions can materially affect the estimated value, in management's opinion, the existing valuation models may not provide an accurate measure of the fair value or be indicative of the fair value that would be observed in a willing buyer/willing seller market for the Company's employee stock options.

(d) Share-Based Awards Available for Grant

A summary of share-based awards available for grant is as follows (in millions):


	Share- Based Awards Available for Grant
BALANCE AT JULY 31, 2010		295
Restricted stock, stock units, and other share-based awards granted and assumed		(84	)
Share-based awards canceled/forfeited/expired		42
Additional shares reserved		2

BALANCE AT JULY 30, 2011		255
Restricted stock, stock units, and other share-based awards granted and assumed		(17	)
Share-based awards canceled/forfeited/expired		23
Other		(6	)

BALANCE AT OCTOBER 29, 2011		255

As reflected in the preceding table, for each share awarded as restricted stock or subject to a restricted stock unit award under the 2005 Plan, an equivalent of 1.5 shares was deducted from the available share-based award balance. For restricted stock units that were awarded with vesting contingent upon the achievement of future financial performance metrics, the maximum awards that can be achieved upon full vesting of such awards were reflected in the preceding table.

(e) Restricted Stock and Stock Unit Awards

A summary of the restricted stock and stock unit activity is as follows (in millions, except per-share amounts):


	Restricted Stock/ Stock Units			Weighted- Average Grant- Date Fair Value per Share		Vest-Date Fair Value in Aggregate
BALANCE AT JULY 31, 2010		97		$	22.35
Granted and assumed		56			20.62
Vested		(27	)		22.54	$	529
Canceled/forfeited		(10	)		22.04

BALANCE AT JULY 30, 2011		116			21.50
Granted and assumed		11			15.68
Vested		(25	)		22.87	$	400
Canceled/forfeited		(8	)		21.70

BALANCE AT OCTOBER 29, 2011		94		$	20.41

Certain of the restricted stock units awarded in fiscal 2012 are contingent on the future achievement of financial performance metrics.

Prior to the initial declaration of a quarterly cash dividend on March 17, 2011, the fair value of restricted stock units was measured based on the grant date share price reduced by the present value of the dividend using an expected dividend yield of 0%, as the Company did not historically pay cash dividends on its common stock. For awards granted on or subsequent to March 17, 2011, the Company used an annualized dividend yield based on the per-share dividends declared by its Board of Directors.

(f) Stock Option Awards

A summary of the stock option activity is as follows (in millions, except per-share amounts):


	STOCK OPTIONS OUTSTANDING
	Number Outstanding			Weighted- Average Exercise Price per Share
BALANCE AT JULY 31, 2010		732		$	21.39
Exercised		(80	)		16.55
Canceled/forfeited/expired		(31	)		25.91

BALANCE AT JULY 30, 2011		621			21.79
Exercised		(19	)		10.23
Canceled/forfeited/expired		(11	)		22.95

BALANCE AT OCTOBER 29, 2011		591		$	22.14

The following table summarizes significant ranges of outstanding and exercisable stock options as of October 29, 2011 (in millions, except years and share prices):


	STOCK OPTIONS OUTSTANDING								STOCK OPTIONS EXERCISABLE
Range of Exercise Prices	Number Outstanding		Weighted- Average Remaining Contractual Life (in Years)		Weighted- Average Exercise Price per Share		Aggregate Intrinsic Value		Number Exercisable		Weighted- Average Exercise Price per Share		Aggregate Intrinsic Value
$ 0.01 – 15.00		36		1.85	$	10.86	$	275		34	$	10.98	$	260
15.01 – 18.00		96		2.78		17.72		80		96		17.73		80
18.01 – 20.00		166		1.66		19.29		1		166		19.29		1
20.01 – 25.00		151		3.62		22.75		—		146		22.76		—
25.01 – 35.00		142		4.84		30.65		—		119		30.63		—

Total		591		3.12	$	22.14	$	356		561	$	21.83	$	341

The aggregate intrinsic value in the preceding table represents the total pretax intrinsic value, based on the Company's closing stock price of $18.56 as of October 28, 2011, which would have been received by the option holders had those option holders exercised their stock options as of that date. The total number of in-the-money stock options exercisable as of October 29, 2011 was 136 million. As of July 30, 2011, 575 million outstanding stock options were exercisable and the weighted-average exercise price was $21.37.

Income Taxes

15.

Income Taxes

The following table provides details of income taxes (in millions, except percentages):


	Three Months Ended
	October 29, 2011			October 30, 2010
Income before provision for income taxes	$	2,245		$	2,425
Provision for income taxes	$	468		$	495
Effective tax rate		20.8	%		20.4	%

As of October 29, 2011, the Company had $3.0 billion of unrecognized tax benefits, of which $2.6 billion, if recognized, would favorably impact the effective tax rate. The Company regularly engages in discussions and negotiations with tax authorities regarding tax matters in various jurisdictions. 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. The Company estimates that the unrecognized tax benefits at October 29, 2011 could be reduced by approximately $400 million in the next 12 months.

Segment Information And Major Customers

16.

Segment Information and Major Customers

(a) Net Sales and Gross Margin by Segment

The Company conducts business globally and is primarily managed on a geographic basis. As of October 29, 2011, the Company has three geographic segments: the Americas; EMEA; and APJC. In fiscal 2011, the Company was organized into four geographic segments, which consisted of United States and Canada, European Markets, Emerging Markets, and Asia Pacific Markets. As a result of this geographic segment change in fiscal 2012, countries within the former Emerging Markets segment were consolidated into either EMEA or the Americas segment depending on their respective geographic locations. The Company has reclassified the geographic segment data for the prior period to conform to the current period's presentation.

The Company's management makes financial decisions and allocates resources based on the information it receives from its internal management system. Sales are attributed to a geographic segment based on the ordering location of the customer. The Company does not allocate research and development, sales and marketing, or general and administrative expenses to its geographic segments in this internal management system because management does not include the information in its measurement of the performance of the operating segments. In addition, the Company does not allocate amortization of acquisition-related intangible assets, share-based compensation expense, 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 its measurement of the performance of the operating segments.

Summarized financial information by segment for the three months ended October 29, 2011 and October 30, 2010 is based on the Company's internal management system and as utilized by the Company's Chief Operating Decision Maker (CODM), is as follows (in millions):


Three Months Ended	October 29, 2011			October 30, 2010
Net sales:
Americas ⁽¹⁾	$	6,588		$	6,316
EMEA		2,845			2,795
APJC		1,823			1,639

Total	$	11,256		$	10,750

Gross margin:
Americas ⁽¹⁾	$	4,160		$	4,051
EMEA		1,754			1,809
APJC		1,108			1,054

Segment total		7,022			6,914
Unallocated corporate items ⁽²⁾		(132	)		(159	)

Total	$	6,890		$	6,755

⁽¹⁾	Net sales in the United States were $5.6 billion and $5.4 billion for the three months ended October 29, 2011 and October 30, 2010, respectively.

⁽²⁾	The unallocated corporate items include the effects of amortization and impairment of acquisition-related intangible assets, share-based compensation expense, and charges related to asset impairments and restructurings.

Certain reclassifications have been made to amounts for prior period to conform to the current year's presentation.

(b) Net Sales for Groups of Similar Products and Services

The Company designs, manufactures, and sells Internet Protocol (IP)-based networking and other products related to the communications and IT industry and provides services associated with these products and their use. The Company formerly grouped its products and technologies into categories of Switches, Routers, New Products, and Other. Effective in the first quarter of fiscal 2012, the Company re-categorized its products and technologies into Switching, Next Generation Network ("NGN") Routing, Collaboration, Service Provider Video, Wireless, Security, Data Center, and Other Products. These products, primarily integrated by Cisco IOS Software, link geographically dispersed local-area networks (LANs), metropolitan-area networks (MANs) and wide-area networks (WANs).

The following table presents net sales for groups of similar products and services (in millions):


Three Months Ended	October 29, 2011		October 30, 2010
Net sales:
Switching	$	3,675	$	3,689
NGN Routing		2,108		2,177
Collaboration		1,093		977
Service Provider Video		879		778
Wireless		362		334
Security		320		290
Data Center		259		125
Other		256		330

Product		8,952		8,700
Service		2,304		2,050

Total	$	11,256	$	10,750

Reclassifications have been made to prior period amounts to conform to the current period's presentation.

(c) Additional Segment Information

The majority of the Company's assets, excluding cash and cash equivalents and investments, as of October 29, 2011 and July 30, 2011 were attributable to its U.S. operations. The Company's total cash and cash equivalents and investments held outside of the United States in various foreign subsidiaries were $40.6 billion and $39.8 billion as of October 29, 2011 and July 30, 2011, respectively, and the remaining $3.8 billion and $4.8 billion at the respective period ends was held in the United States.

Property and equipment information is based on the physical location of the assets. The following table presents property and equipment information for geographic areas (in millions):


	October 29, 2011		July 30, 2011
Property and equipment, net:
United States	$	3,172	$	3,284
International		581		632

Total	$	3,753	$	3,916

Net Income Per Share

17.

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
	October 29, 2011		October 30, 2010
Net income	$	1,777	$	1,930

Weighted-average shares—basic		5,394		5,595
Effect of dilutive potential common shares		13		80

Weighted-average shares—diluted		5,407		5,675

Net income per share—basic	$	0.33	$	0.34

Net income per share—diluted	$	0.33	$	0.34

Antidilutive employee share-based awards, excluded		679		327

Employee equity share options, unvested shares, and similar equity instruments granted by the Company are treated as potential common shares outstanding in computing diluted earnings per share. Diluted shares outstanding include the dilutive effect of in-the-money options, unvested restricted stock, and restricted stock units. The dilutive effect of such equity awards is calculated based on the average share price for each fiscal period using the treasury stock method. Under the treasury stock method, the amount the employee must pay for exercising stock options, the amount of compensation cost for future service that the Company has not yet recognized, and the amount of tax benefits that would be recorded in additional paid-in capital when the award becomes deductible, are collectively assumed to be used to repurchase shares.

Supplemental Information (Tables)

Stock Repurchases Since Inception Of Program


	Shares of Common Stock		Common Stock and Additional Paid-In Capital		Retained Earnings		Total Cisco Shareholders' Equity
Repurchases of common stock under the repurchase program		3,578	$	15,866	$	57,451	$	73,317

Business Combinations (Tables)

Summary Of Allocation Of Total Purchase Consideration


	Shares Issued		Purchase Consideration		Net Liabilities Assumed			Purchased Intangible Assets		Goodwill
Total acquisitions		—	$	38	$	(2	)	$	19	$	21

Goodwill And Purchased Intangible Assets (Tables)

3 Months Ended
Oct. 29, 2011

12 Months Ended
Jul. 30, 2011

Goodwill And Purchased Intangible Assets [Abstract]

Goodwill By Reportable Segment

Text Block

Schedule Of Intangible Assets Acquired Through Business Combinations

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Purchased Intangible Assets With Finite Lives

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Schedule Of Amortization Of Purchased Intangible Assets

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Schedule Of Estimated Future Amortization Expense Of Purchased Intangible Assets

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Goodwill By Reportable Segment


	Balance at July 30, 2011		Acquisitions		Other			Balance at October 29, 2011
Americas	$	11,627	$	12	$	(4	)	$	11,635
EMEA		3,272		6		(12	)		3,266
APJC		1,919		3		—			1,922

Total	$	16,818	$	21	$	(16	)	$	16,823

Schedule Of Intangible Assets Acquired Through Business Combinations


	FINITE LIVES												INDEFINITE LIVES
	TECHNOLOGY				CUSTOMER RELATIONSHIPS				OTHER				In-Process Research & Development		TOTAL
	Weighted- Average Useful Life (in Years)		Amount		Weighted- Average Useful Life (in Years)		Amount		Weighted- Average Useful Life (in Years)		Amount		Amount		Amount
Total		3.7	$	19		—	$	—		—	$	—	$	—	$	19

Purchased Intangible Assets With Finite Lives


October 29, 2011	Gross		Accumulated Amortization			Net
Purchased intangible assets with finite lives:
Technology	$	2,128	$	(642	)	$	1,486
Customer relationships		2,269		(1,425	)		844
Other		123		(97	)		26

Total purchased intangible assets with finite lives		4,520		(2,164	)		2,356
In-process research & development, with indefinite lives		13		—			13

Total	$	4,533	$	(2,164	)	$	2,369

Purchased Intangible Assets With Finite Lives


July 30, 2011	Gross		Accumulated Amortization			Net
Purchased intangible assets with finite lives:
Technology	$	1,961	$	(561	)	$	1,400
Customer relationships		2,277		(1,346	)		931
Other		123		(91	)		32

Total purchased intangible assets with finite lives		4,361		(1,998	)		2,363
In-process research & development, with indefinite lives		178		—			178

Total	$	4,539	$	(1,998	)	$	2,541

Schedule Of Amortization Of Purchased Intangible Assets


	Three Months Ended
	October 29, 2011		October 30, 2010
Amortization of purchased intangible assets:
Cost of sales	$	96	$	106
Operating expenses		99		113

Total	$	195	$	219

Schedule Of Estimated Future Amortization Expense Of Purchased Intangible Assets


Fiscal Year	Amount
2012 (remaining nine months)	$	580
2013		659
2014		474
2015		404
2016		187
Thereafter		52

Total	$	2,356

Restructuring And Other Charges (Tables)

Schedule Of Activity Related To Restructuring And Other Charges


	Voluntary Early Retirement Program			Employee Severance			Goodwill and Intangible Assets			Other			Total
Initial charges in fiscal 2011	$	453		$	247		$	71		$	28		$	799
Cash payments		(436	)		(13	)		—			—			(449	)
Non-cash items		—			—			(71	)		(17	)		(88	)

Balance as of July 30, 2011		17			234			—			11			262
Charges		—			174			—			28			202
Cash payments		(17	)		(276	)		—			(4	)		(297	)
Non-cash items		—			—			—			(18	)		(18	)

Balance as of October 29, 2011	$	—		$	132		$	—		$	17		$	149

Balance Sheet Details (Tables)

Inventories


	October 29, 2011		July 30, 2011
Inventories:
Raw materials	$	193	$	219
Work in process		43		52
Finished goods:
Distributor inventory and deferred cost of sales		684		631
Manufactured finished goods		437		331

Total finished goods		1,121		962

Service-related spares		195		182
Demonstration systems		70		71

Total	$	1,622	$	1,486

Property And Equipment, Net

Property and equipment, net:
Land, buildings, and building & leasehold improvements	$	4,616		$	4,760
Computer equipment and related software		1,410			1,429
Production, engineering, and other equipment		5,075			5,093
Operating lease assets ⁽¹⁾		293			293
Furniture and fixtures		486			491

		11,880			12,066
Less accumulated depreciation and amortization ⁽¹⁾		(8,127	)		(8,150	)

Total	$	3,753		$	3,916

⁽¹⁾ Accumulated depreciation related to operating lease assets was $171 and $169 as of October 29, 2011 and July 30, 2011, respectively.

Other Assets

Other assets:
Deferred tax assets	$	1,895	$	1,864
Investments in privately held companies		898		796
Other		750		441

Total	$	3,543	$	3,101

Deferred Revenue

Deferred revenue:
Service	$	8,321	$	8,521
Product:
Unrecognized revenue on product shipments and other deferred revenue		3,209		3,003
Cash receipts related to unrecognized revenue from two-tier distributors		866		683

Total product deferred revenue		4,075		3,686

Total	$	12,396	$	12,207

Reported as:
Current	$	8,444	$	8,025
Noncurrent		3,952		4,182

Total	$	12,396	$	12,207

Financing Receivables And Guarantees (Tables)

3 Months Ended
Oct. 29, 2011

12 Months Ended
Jul. 30, 2011

Financing Receivables And Guarantees [Abstract]

Financing Receivables

Text Block

Contractual Maturities Of The Gross Lease Receivables

Text Block

Schedule Of Internal Credit Risk Rating For Each Portfolio Segment And Class

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Schedule Of Financing Receivables By Portfolio Segment And Class Aging Analysis

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Allowance For Credit Loss And Related Financing Receivables

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Financing Guarantees

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Financing Receivables


October 29, 2011	Lease Receivables			Loan Receivables			Financed Service Contracts & Other⁽¹⁾			Total Financing Receivables
Gross	$	3,086		$	1,468		$	2,557		$	7,111
Unearned income		(237	)		—			—			(237	)
Allowance for credit loss		(233	)		(103	)		(29	)		(365	)

Total, net	$	2,616		$	1,365		$	2,528		$	6,509

Reported as:
Current	$	1,054		$	861		$	1,385		$	3,300
Noncurrent		1,562			504			1,143			3,209

Total, net	$	2,616		$	1,365		$	2,528		$	6,509


July 30, 2011	Lease Receivables			Loan Receivables			Financed Service Contracts & Other⁽¹⁾			Total Financing Receivables
Gross	$	3,111		$	1,468		$	2,637		$	7,216
Unearned income		(250	)		—			—			(250	)
Allowance for credit loss		(237	)		(103	)		(27	)		(367	)

Total, net	$	2,624		$	1,365		$	2,610		$	6,599

Reported as:
Current	$	1,087		$	673		$	1,351		$	3,111
Noncurrent		1,537			692			1,259			3,488

Total, net	$	2,624		$	1,365		$	2,610		$	6,599

⁽¹⁾	As of October 29, 2011 and July 30, 2011, the deferred service revenue related to financed service contracts and other was $1,940 million and $2,044 million, respectively.

Contractual Maturities Of The Gross Lease Receivables


Fiscal Year	Amount
2012 (remaining nine months)	$	978
2013		988
2014		677
2015		325
2016		109
Thereafter		9

Total	$	3,086

Schedule Of Internal Credit Risk Rating For Each Portfolio Segment And Class


	INTERNAL CREDIT RISK RATING
October 29, 2011	1 to 4		5 to 6		7 and Higher		Total		Residual Value		Gross Receivables, Net of Unearned Income
Established Markets
Lease receivables	$	1,193	$	1,190	$	20	$	2,403	$	291	$	2,694
Loan receivables		206		258		6		470		—		470
Financed service contracts & other		1,610		870		49		2,529		—		2,529

Total Established Markets	$	3,009	$	2,318	$	75	$	5,402	$	291	$	5,693


Growth Markets
Lease receivables	$	51	$	90	$	10	$	151	$	4	$	155
Loan receivables		428		554		16		998		—		998
Financed service contracts & other		5		19		4		28		—		28

Total Growth Markets	$	484	$	663	$	30	$	1,177	$	4	$	1,181

Total	$	3,493	$	2,981	$	105	$	6,579	$	295	$	6,874

Schedule Of Internal Credit Risk Rating For Each Portfolio Segment And Class


	INTERNAL CREDIT RISK RATING
July 30, 2011	1 to 4		5 to 6		7 and Higher		Total		Residual Value		Gross Receivables, Net of Unearned Income
Established Markets
Lease receivables	$	1,214	$	1,182	$	23	$	2,419	$	292	$	2,711
Loan receivables		204		187		4		395		—		395
Financed service contracts & other		1,622		939		52		2,613		—		2,613

Total Established Markets	$	3,040	$	2,308	$	79	$	5,427	$	292	$	5,719


Growth Markets
Lease receivables	$	35	$	93	$	18	$	146	$	4	$	150
Loan receivables		458		580		35		1,073		—		1,073
Financed service contracts & other		1		19		4		24		—		24

Total Growth Markets	$	494	$	692	$	57	$	1,243	$	4	$	1,247

Total	$	3,534	$	3,000	$	136	$	6,670	$	296	$	6,966

Schedule Of Financing Receivables By Portfolio Segment And Class Aging Analysis


October 29, 2011	31-60 Days Past Due ⁽¹⁾		61-90 Days Past Due ⁽¹⁾		Greater than 90 Days Past Due ^{(1) (2)}		Total Past Due		Current		Gross Receivables, Net of Unearned Income		Non-Accrual Financing Receivables		Impaired Financing Receivables
Established Markets	31-60 Days Past Due ⁽¹⁾		61-90 Days Past Due ⁽¹⁾		Greater than 90 Days Past Due ^{(1) (2)}		Total Past Due		Current		Gross Receivables, Net of Unearned Income		Non-Accrual Financing Receivables		Impaired Financing Receivables
Lease receivables	$	103	$	75	$	127	$	305	$	2,389	$	2,694	$	18	$	6
Loan receivables		3		4		9		16		454		470		2		2
Financed service contracts & other		64		97		241		402		2,127		2,529		14		6

Total Established Markets	$	170	$	176	$	377	$	723	$	4,970	$	5,693	$	34	$	14


Growth Markets
Lease receivables	$	4	$	5	$	2	$	11	$	144	$	155	$	9	$	9
Loan receivables		2		—		3		5		993		998		4		3
Financed service contracts & other		—		—		—		—		28		28		—		—

Total Growth Markets	$	6	$	5	$	5	$	16	$	1,165	$	1,181	$	13	$	12

Total	$	176	$	181	$	382	$	739	$	6,135	$	6,874	$	47	$	26


July 30, 2011	31-60 Days Past Due ⁽¹⁾		61-90 Days Past Due ⁽¹⁾		Greater than 90 Days Past Due ^{(1) (2)}		Total Past Due		Current		Gross Receivables, Net of Unearned Income		Non-Accrual Financing Receivables		Impaired Financing Receivables
Established Markets	31-60 Days Past Due ⁽¹⁾		61-90 Days Past Due ⁽¹⁾		Greater than 90 Days Past Due ^{(1) (2)}		Total Past Due		Current		Gross Receivables, Net of Unearned Income		Non-Accrual Financing Receivables		Impaired Financing Receivables
Lease receivables	$	85	$	33	$	139	$	257	$	2,454	$	2,711	$	16	$	6
Loan receivables		6		1		9		16		379		395		1		1
Financed service contracts & other		68		33		265		366		2,247		2,613		17		6

Total Established Markets	$	159	$	67	$	413	$	639	$	5,080	$	5,719	$	34	$	13


Growth Markets
Lease receivables	$	4	$	2	$	13	$	19	$	131	$	150	$	18	$	18
Loan receivables		2		6		12		20		1,053		1,073		3		3
Financed service contracts & other		—		—		—		—		24		24		—		—

Total Growth Markets	$	6	$	8	$	25	$	39	$	1,208	$	1,247	$	21	$	21

Total	$	165	$	75	$	438	$	678	$	6,288	$	6,966	$	55	$	34

⁽¹⁾

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 are 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. The preceding aging tables also exclude pending adjustments on billed tax assessment in certain international markets.

⁽²⁾

The balances of either unbilled or current financing receivables included in the greater-than-90 days past due category for lease receivables, loan receivables, and financed service contracts and other were $102 million, $10 million, and $212 million, respectively, as of October 29, 2011. Such balances for the same category of receivables were $116 million, $15 million, and $230 million, respectively, as of July 30, 2011.

Allowance For Credit Loss And Related Financing Receivables


	CREDIT LOSS ALLOWANCES
Three Months Ended October 29, 2011	Lease Receivables			Loan Receivables			Financed Service Contracts and Other		Total
Allowance for credit loss as of July 30, 2011	$	237		$	103		$	27	$	367
Provisions		2			5			2		9
Foreign exchange and other		(6	)		(5	)		—		(11	)

Allowance for credit loss as of October 29, 2011	$	233		$	103		$	29	$	365

Gross receivables as of October 29, 2011, net of unearned income	$	2,849		$	1,468		$	2,557	$	6,874

Financing Guarantees


	October 29, 2011			July 30, 2011
Maximum potential future payments relating to financing guarantees:
Channel partner	$	349		$	336
End user		259			277

Total	$	608		$	613

Deferred revenue associated with financing guarantees:
Channel partner	$	(261	)	$	(248	)
End user		(234	)		(248	)

Total	$	(495	)	$	(496	)

Maximum potential future payments relating to financing guarantees, net of associated deferred revenue	$	113		$	117

Investments (Tables)

Summary Of Available-For-Sale Investments


October 29, 2011	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Fixed income securities:
U.S. government securities	$	20,206	$	53	$	(5	)	$	20,254
U.S. government agency securities ⁽¹⁾		10,026		27		(4	)		10,049
Non-U.S. government and agency securities ⁽²⁾		3,516		12		(3	)		3,525
Corporate debt securities		4,299		44		(23	)		4,320
Asset-backed securities		116		4		(4	)		116

Total fixed income securities		38,163		140		(39	)		38,264
Publicly traded equity securities		777		603		(3	)		1,377

Total	$	38,940	$	743	$	(42	)	$	39,641


July 30, 2011	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Fixed income securities:
U.S. government securities	$	19,087	$	52	$	—		$	19,139
U.S. government agency securities ⁽¹⁾		8,742		35		(1	)		8,776
Non-U.S. government and agency securities ⁽²⁾		3,119		14		(1	)		3,132
Corporate debt securities		4,333		65		(4	)		4,394
Asset-backed securities		120		5		(4	)		121

Total fixed income securities		35,401		171		(10	)		35,562
Publicly traded equity securities		734		639		(12	)		1,361

Total	$	36,135	$	810	$	(22	)	$	36,923

⁽¹⁾	Includes corporate debt securities that are guaranteed by the Federal Deposit Insurance Corporation (FDIC).

⁽²⁾	Includes agency and corporate debt securities that are guaranteed by non-U.S. governments.

Net Realized Gains And Losses Related To Available-For-Sale Investments


Three Months Ended	October 29, 2011			October 30, 2010
Net realized gains (losses):
Publicly traded equity securities	$	(16	)	$	19
Fixed income securities		25			71

Total	$	9		$	90

Credit Losses For Fixed Income Securities


	October 29, 2011			October 30, 2010
Balance at beginning of period	$	(23	)	$	(95	)
Sales of other-than-temporarily impaired fixed income securities		—			27

Balance at end of period	$	(23	)	$	(68	)

Available-For-Sale Investments With Gross Unrealized Losses


	UNREALIZED LOSSES LESS THAN 12 MONTHS					UNREALIZED LOSSES 12 MONTHS OR GREATER					TOTAL
October 29, 2011	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Fixed income securities:
U.S. government securities	$	4,767	$	(5	)	$	—	$	—		$	4,767	$	(5	)
U.S. government agency securities ⁽¹⁾		2,490		(4	)		—		—			2,490		(4	)
Non-U.S. government and agency securities ⁽²⁾		1,603		(3	)		—		—			1,603		(3	)
Corporate debt securities		1,528		(19	)		68		(4	)		1,596		(23	)
Asset-backed securities		—		—			101		(4	)		101		(4	)

Total fixed income securities		10,388		(31	)		169		(8	)		10,557		(39	)
Publicly traded equity securities		25		(3	)		—		—			25		(3	)

Total	$	10,413	$	(34	)	$	169	$	(8	)	$	10,582	$	(42	)



	UNREALIZED LOSSES LESS THAN 12 MONTHS					UNREALIZED LOSSES 12 MONTHS OR GREATER					TOTAL
July 30, 2011	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Fixed income securities:
U.S. government agency securities ⁽¹⁾	$	2,310	$	(1	)	$	—	$	—		$	2,310	$	(1	)
Non-U.S. government and agency securities ⁽²⁾		875		(1	)		—		—			875		(1	)
Corporate debt securities		548		(2	)		56		(2	)		604		(4	)
Asset-backed securities		—		—			105		(4	)		105		(4	)

Total fixed income securities		3,733		(4	)		161		(6	)		3,894		(10	)
Publicly traded equity securities		112		(12	)		—		—			112		(12	)

Total	$	3,845	$	(16	)	$	161	$	(6	)	$	4,006	$	(22	)

⁽¹⁾	Includes corporate debt securities that are guaranteed by the FDIC.

⁽²⁾	Includes agency and corporate debt securities that are guaranteed by non-U.S. governments.

Maturities Of Fixed Income Securities


	Amortized Cost		Fair Value
Less than 1 year	$	18,989	$	19,017
Due in 1 to 2 years		11,927		11,971
Due in 2 to 5 years		7,045		7,069
Due after 5 years		202		207

Total	$	38,163	$	38,264

Fair Value (Tables)

3 Months Ended
Oct. 29, 2011

3 Months Ended
Oct. 30, 2010

Fair Value [Abstract]

Assets And Liabilities Measured At Fair Value On A Recurring Basis

Text Block

Reconciliation For All Assets Measured At Fair Value On A Recurring Basis Using Significant Unobservable Inputs (Level 3)

Text Block

Fair Value On A Nonrecurring Basis

Text Block

Assets And Liabilities Measured At Fair Value On A Recurring Basis


	OCTOBER 29, 2011 FAIR VALUE MEASUREMENTS								JULY 30, 2011 FAIR VALUE MEASUREMENTS
	Level 1		Level 2		Level 3		Total Balance		Level 1		Level 2		Level 3		Total Balance
Assets
Cash equivalents:
Money market funds	$	3,136	$	—	$	—	$	3,136	$	5,852	$	—	$	—	$	5,852
U.S. government agency securities ⁽¹⁾		—		—		—		—		—		1		—		1
Available-for-sale investments:
U.S. government securities		—		20,254		—		20,254		—		19,139		—		19,139
U.S. government agency securities ⁽¹⁾		—		10,049		—		10,049		—		8,776		—		8,776
Non-U.S. government and agency securities⁽²⁾		—		3,525		—		3,525		—		3,132		—		3,132
Corporate debt securities		—		4,320		—		4,320		—		4,394		—		4,394
Asset-backed securities		—		—		116		116		—		—		121		121
Publicly traded equity securities		1,377		—		—		1,377		1,361		—		—		1,361
Derivative assets		—		242		1		243		—		220		2		222

Total	$	4,513	$	38,390	$	117	$	43,020	$	7,213	$	35,662	$	123	$	42,998

Liabilities:
Derivative liabilities	$	—	$	42	$	—	$	42	$	—	$	24	$	—	$	24

Total	$	—	$	42	$	—	$	42	$	—	$	24	$	—	$	24

⁽¹⁾	Includes corporate debt securities that are guaranteed by the FDIC.

⁽²⁾	Includes agency and corporate debt securities that are guaranteed by non-U.S. governments.

Reconciliation For All Assets Measured At Fair Value On A Recurring Basis Using Significant Unobservable Inputs (Level 3)


	Asset-Backed Securities			Derivative Assets			Total
Balance at July 30, 2011	$	121		$	2		$	123
Total gains and losses (realized and unrealized):
Included in other income, net		—			(1	)		(1	)
Sales and maturities		(5	)		—			(5	)

Balance at October 29, 2011	$	116		$	1		$	117

Losses attributable to assets still held as of October 29, 2011	$	—		$	(1	)	$	(1	)

Reconciliation For All Assets Measured At Fair Value On A Recurring Basis Using Significant Unobservable Inputs (Level 3)



	Asset-Backed Securities			Derivative Assets			Total
Balance at July 31, 2010	$	149		$	3		$	152
Total gains and losses (realized and unrealized):
Included in other income, net		—			(1	)		(1	)
Included in other comprehensive income		(1	)		—			(1	)
Sales and maturities		(6	)		—			(6	)

Balance at October 30, 2010	$	142		$	2		$	144

Losses attributable to assets still held as of October 30, 2010	$	—		$	(1	)	$	(1	)

Fair Value On A Nonrecurring Basis


			FAIR VALUE MEASUREMENTS USING
	Net Carrying Value as of October 29, 2011		Level 1		Level 2		Level 3		Total Losses for the Three Months Ended October 29, 2011
Investments in privately held companies	$	1	$	—	$	—	$	1	$	1
Property held for sale	$	24	$	—	$	—	$	24		89

Total									$	90

Fair Value On A Nonrecurring Basis



			FAIR VALUE MEASUREMENTS USING
	Net Carrying Value as of October 30, 2010		Level 1		Level 2		Level 3		Total Losses for the Three Months Ended October 30, 2010
Investments in privately held companies	$	9	$	—	$	—	$	9	$	3

Borrowings (Tables)

Schedule Of Short-Term Debt


	October 29, 2011					July 30, 2011
	Amount		Weighted-Average Interest Rate			Amount		Weighted-Average Interest Rate
Commercial paper	$	500		0.13	%	$	500		0.14	%
Other notes and borrowings		89		6.12	%		88		4.59	%

Total short-term debt	$	589				$	588

Schedule Of Long-Term Debt


	October 29, 2011						July 30, 2011
	Amount			Effective Rate			Amount			Effective Rate
Senior Notes:
Floating-rate notes, due 2014	$	1,250			0.69	%	$	1,250			0.60	%
2.90% fixed-rate notes, due 2014		500			3.11	%		500			3.11	%
1.625% fixed-rate notes, due 2014		2,000			0.67	%		2,000			0.58	%
5.50% fixed-rate notes, due 2016		3,000			3.08	%		3,000			3.06	%
3.15% fixed-rate notes, due 2017		750			0.91	%		750			0.81	%
4.95% fixed-rate notes, due 2019		2,000			5.08	%		2,000			5.08	%
4.45% fixed-rate notes, due 2020		2,500			4.50	%		2,500			4.50	%
5.90% fixed-rate notes, due 2039		2,000			6.11	%		2,000			6.11	%
5.50% fixed-rate notes, due 2040		2,000			5.67	%		2,000			5.67	%

Total		16,000						16,000
Unaccreted discount		(72	)					(73	)
Hedge accounting adjustment		336						307

Total long-term debt	$	16,264					$	16,234

Schedule Of Principal Payments For Long-Term Debt


Fiscal Year	Amount
2014	$	3,250
2015		500
2016		3,000
Thereafter		9,250

Total	$	16,000

Derivative Instruments (Tables)

Derivatives Recorded At Fair Value


	DERIVATIVE ASSETS					DERIVATIVE LIABILITIES
	Balance Sheet Line Item	October 29, 2011		July 30, 2011		Balance Sheet Line Item	October 29, 2011		July 30, 2011
Derivatives designated as hedging instruments:
Foreign currency derivatives	Other current assets	$	32	$	67	Other current liabilities	$	30	$	12
Interest rate derivatives	Other assets		180		146	Other long-term liabilities		—		—

Total		$	212	$	213		$	30	$	12

Derivatives not designated as hedging instruments:
Foreign currency derivatives	Other current assets	$	30	$	7	Other current liabilities	$	12	$	12
Equity derivatives	Other assets		1		2	Other long-term liabilities		—		—

Total			31		9			12		12

Total		$	243	$	222		$	42	$	24

Effect Of Derivative Instruments Designated As Fair Value Hedges And Underlying Hedged Items On Consolidated Statements Of Operations Summary


GAINS (LOSSES) RECOGNIZED IN OCI ON DERIVATIVES FOR THE THREE MONTHS ENDED (EFFECTIVE PORTION)						GAINS (LOSSES) RECLASSIFIED FROM AOCI INTO INCOME FOR THE THREE MONTHS ENDED
Derivatives Designated as Cash Flow Hedging Instruments	October 29, 2011			October 30, 2010		Line Item in Statements of Operations	October 29, 2011		October 30, 2010
Foreign currency derivatives	$	(50	)	$	55	Operating expenses	$	—	$	6
						Cost of sales–service		—		1

Total	$	(50	)	$	55		$	—	$	7

Gains And Losses On Derivatives Designated As Cash Flow Hedges


		GAINS (LOSSES) ON DERIVATIVES INSTRUMENTS FOR THE THREE MONTHS ENDED				GAINS (LOSSES) RELATED TO HEDGED ITEMS FOR THE THREE MONTHS ENDED
Derivatives Designated as Fair Value Hedging Instruments	Line Item in Statements of Operations	October 29, 2011		October 30, 2010		October 29, 2011			October 30, 2010
Interest rate derivatives	Interest expense	$	35	$	30	$	(36	)	$	(32	)

Effect Of Derivative Instruments Not Designated As Fair Value Hedges On Consolidated Statement Of Operations Summary


		GAINS (LOSSES) FOR THE THREE MONTHS ENDED
Derivatives Not Designated as Hedging Instruments	Line Item in Statements of Operations	October 29, 2011			October 30, 2010
Foreign currency derivatives	Other income, net	$	(57	)	$	114
Total return swaps-deferred compensation	Operating expenses		(20	)		11
Equity derivatives	Other income, net		7			5

Total		$	(70	)	$	130

Schedule Of Notional Amounts Of Derivatives Outstanding


	October 29, 2011		July 30, 2011
Derivatives designated as hedging instruments:
Foreign currency derivatives–cash flow hedges	$	2,707	$	3,433
Interest rate derivatives		4,250		4,250
Net investment hedging instruments		68		73
Derivatives not designated as hedging instruments:
Foreign currency derivatives		5,220		4,565
Total return swaps		262		262

Total	$	12,507	$	12,583

Commitments And Contingencies (Tables)

Schedule Of Future Minimum Lease Payments Under All Noncancelable Operating Leases


Fiscal Year	Amount
2012 (remaining nine months)	$	253
2013		256
2014		189
2015		155
2016		67
Thereafter		267

Total	$	1,187

Schedule Of Product Warranty Liability


	Three Months Ended
	October 29, 2011			October 30, 2010
Balance at beginning of period	$	342		$	360
Provision for warranties issued		151			110
Payments		(132	)		(120	)

Balance at end of period	$	361		$	350

Shareholders' Equity (Tables)

Stock Repurchase Program


	Shares Repurchased		Weighted- Average Price per Share		Amount Repurchased
Cumulative balance at July 30, 2011		3,478	$	20.64	$	71,773
Repurchase of common stock under the stock repurchase program		100		15.37		1,544

Cumulative balance at October 29, 2011		3,578	$	20.49	$	73,317

Comprehensive Income


	Three Months Ended
	October 29, 2011			October 30, 2010
Net income	$	1,777		$	1,930
Other comprehensive income:
Change in unrealized gains and losses on investments, net of tax benefit (expense) of $28 and ($17) for the first quarters of fiscal 2012 and 2011, respectively		(59	)		42
Change in derivative instruments		(50	)		49
Change in cumulative translation adjustment and other, net of tax benefit (expense) of $21 and ($10) for the first quarters of fiscal 2012 and 2011, respectively		(211	)		238

Comprehensive income		1,457			2,259
Comprehensive loss (income) attributable to noncontrolling interests		7			(2	)

Comprehensive income attributable to Cisco	$	1,464		$	2,257

Components Of AOCI, Net Of Tax


	October 29, 2011			July 30, 2011
Net unrealized gains on investments	$	435		$	487
Net unrealized (losses) gains on derivative instruments		(44	)		6
Cumulative translation adjustment and other		590			801

Total	$	981		$	1,294

Employee Stock Benefit Plans (Tables)

Summary Of Share-Based Compensation Expense


	Three Months Ended
	October 29, 2011		October 30, 2010
Cost of sales – product	$	13	$	15
Cost of sales – service		37		43

Share-based compensation expense in cost of sales		50		58

Research and development		101		121
Sales and marketing		142		164
General and administrative		48		64

Share-based compensation expense in operating expenses		291		349

Total share-based compensation expense	$	341	$	407

Summary Of Share-Based Awards Available For Grant


	Share- Based Awards Available for Grant
BALANCE AT JULY 31, 2010		295
Restricted stock, stock units, and other share-based awards granted and assumed		(84	)
Share-based awards canceled/forfeited/expired		42
Additional shares reserved		2

BALANCE AT JULY 30, 2011		255
Restricted stock, stock units, and other share-based awards granted and assumed		(17	)
Share-based awards canceled/forfeited/expired		23
Other		(6	)

BALANCE AT OCTOBER 29, 2011		255

Summary Of Restricted Stock And Stock Unit Activity


	Restricted Stock/ Stock Units			Weighted- Average Grant- Date Fair Value per Share		Vest-Date Fair Value in Aggregate
BALANCE AT JULY 31, 2010		97		$	22.35
Granted and assumed		56			20.62
Vested		(27	)		22.54	$	529
Canceled/forfeited		(10	)		22.04

BALANCE AT JULY 30, 2011		116			21.50
Granted and assumed		11			15.68
Vested		(25	)		22.87	$	400
Canceled/forfeited		(8	)		21.70

BALANCE AT OCTOBER 29, 2011		94		$	20.41

Summary Of Stock Option Activity


	STOCK OPTIONS OUTSTANDING
	Number Outstanding			Weighted- Average Exercise Price per Share
BALANCE AT JULY 31, 2010		732		$	21.39
Exercised		(80	)		16.55
Canceled/forfeited/expired		(31	)		25.91

BALANCE AT JULY 30, 2011		621			21.79
Exercised		(19	)		10.23
Canceled/forfeited/expired		(11	)		22.95

BALANCE AT OCTOBER 29, 2011		591		$	22.14

Summary Of Significant Ranges Of Outstanding And Exercisable Stock Options


	STOCK OPTIONS OUTSTANDING								STOCK OPTIONS EXERCISABLE
Range of Exercise Prices	Number Outstanding		Weighted- Average Remaining Contractual Life (in Years)		Weighted- Average Exercise Price per Share		Aggregate Intrinsic Value		Number Exercisable		Weighted- Average Exercise Price per Share		Aggregate Intrinsic Value
$ 0.01 – 15.00		36		1.85	$	10.86	$	275		34	$	10.98	$	260
15.01 – 18.00		96		2.78		17.72		80		96		17.73		80
18.01 – 20.00		166		1.66		19.29		1		166		19.29		1
20.01 – 25.00		151		3.62		22.75		—		146		22.76		—
25.01 – 35.00		142		4.84		30.65		—		119		30.63		—

Total		591		3.12	$	22.14	$	356		561	$	21.83	$	341

Income Taxes (Tables)

Schedule Of Income Tax Details


	Three Months Ended
	October 29, 2011			October 30, 2010
Income before provision for income taxes	$	2,245		$	2,425
Provision for income taxes	$	468		$	495
Effective tax rate		20.8	%		20.4	%

Segment Information And Major Customers (Tables)

Summary Of Reportable Segments


Three Months Ended	October 29, 2011			October 30, 2010
Net sales:
Americas ⁽¹⁾	$	6,588		$	6,316
EMEA		2,845			2,795
APJC		1,823			1,639

Total	$	11,256		$	10,750

Gross margin:
Americas ⁽¹⁾	$	4,160		$	4,051
EMEA		1,754			1,809
APJC		1,108			1,054

Segment total		7,022			6,914
Unallocated corporate items ⁽²⁾		(132	)		(159	)

Total	$	6,890		$	6,755

⁽¹⁾	Net sales in the United States were $5.6 billion and $5.4 billion for the three months ended October 29, 2011 and October 30, 2010, respectively.

⁽²⁾	The unallocated corporate items include the effects of amortization and impairment of acquisition-related intangible assets, share-based compensation expense, and charges related to asset impairments and restructurings.

Summary Of Net Sales For Groups Of Similar Products And Services


Three Months Ended	October 29, 2011		October 30, 2010
Net sales:
Switching	$	3,675	$	3,689
NGN Routing		2,108		2,177
Collaboration		1,093		977
Service Provider Video		879		778
Wireless		362		334
Security		320		290
Data Center		259		125
Other		256		330

Product		8,952		8,700
Service		2,304		2,050

Total	$	11,256	$	10,750

Summary Of Property And Equipment, Net


	October 29, 2011		July 30, 2011
Property and equipment, net:
United States	$	3,172	$	3,284
International		581		632

Total	$	3,753	$	3,916

Net Income Per Share (Tables)

Calculation Of Basic And Diluted Net Income Per Share


	Three Months Ended
	October 29, 2011		October 30, 2010
Net income	$	1,777	$	1,930

Weighted-average shares—basic		5,394		5,595
Effect of dilutive potential common shares		13		80

Weighted-average shares—diluted		5,407		5,675

Net income per share—basic	$	0.33	$	0.34

Net income per share—diluted	$	0.33	$	0.34

Antidilutive employee share-based awards, excluded		679		327

Supplemental Information (Details) (USD $)

Share data in Millions

Oct. 29, 2011

Jul. 30, 2011

Authorized common stock repurchase amount

$ 82,000,000,000

Repurchases of common stock under the repurchase program, shares

3,578

3,478

Repurchases of common stock under the repurchase program, value

73,317,000,000

71,773,000,000

Shares Of Common Stock [Member]

Repurchases of common stock under the repurchase program, shares

3,578

Common Stock And Additional Paid-In Capital [Member]

Repurchases of common stock under the repurchase program, value

15,866,000,000

Retained Earnings [Member]

Repurchases of common stock under the repurchase program, value

57,451,000,000

Total Cisco Shareholders' Equity [Member]

Repurchases of common stock under the repurchase program, value

$ 73,317,000,000

Business Combinations (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended
Oct. 29, 2011

3 Months Ended
Oct. 30, 2010

Business Combinations [Abstract]

Number of business combinations

2

Shares Issued

Purchase Consideration

$ 38

Net Liabilities Assumed

(2)

Purchased Intangible Assets

19

Goodwill

21

Business combination related transaction costs

$ 2

$ 8

Goodwill And Purchased Intangible Assets (Goodwill By Reportable Segment) (Details) (USD $)

In Millions

3 Months Ended
Oct. 29, 2011

Goodwill [Line Items]

Balance, beginning

$ 16,818

Acquisitions

21

Other

(16)

Balance, ending

16,823

Americas [Member]

Goodwill [Line Items]

Balance, beginning

11,627

Acquisitions

12

Other

(4)

Balance, ending

11,635

EMEA [Member]

Goodwill [Line Items]

Balance, beginning

3,272

Acquisitions

6

Other

(12)

Balance, ending

3,266

APJC [Member]

Goodwill [Line Items]

Balance, beginning

1,919

Acquisitions

3

Balance, ending

$ 1,922

Goodwill And Purchased Intangible Assets (Schedule Of Intangible Assets Acquired Through Business Combinations) (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended
Oct. 29, 2011

Acquired Finite-Lived Intangible Assets [Line Items]

Amount, acquired indefinite and finite lived intangible assets

$ 19

In-Process Research & Development, With Indefinite Lives [Member]

Acquired Finite-Lived Intangible Assets [Line Items]

Amount, acquired indefinite lives

Technology [Member]

Acquired Finite-Lived Intangible Assets [Line Items]

Weighted-Average Useful Life (in Years)

3.7

Amount, acquired finite-lived

19

Customer Relationships [Member]

Acquired Finite-Lived Intangible Assets [Line Items]

Weighted-Average Useful Life (in Years)

Amount, acquired finite-lived

Other [Member]

Acquired Finite-Lived Intangible Assets [Line Items]

Weighted-Average Useful Life (in Years)

Amount, acquired finite-lived

Goodwill And Purchased Intangible Assets (Purchased Intangible Assets With Finite Lives) (Details) (USD $)

In Millions

Oct. 29, 2011

Jul. 30, 2011

Acquired Finite-Lived Intangible Assets [Line Items]

Total purchased intangible assets with finite lives, Gross

$ 4,520

$ 4,361

Total purchased intangible assets with finite lives, Accumulated Amortization

(2,164)

(1,998)

Total purchased intangible assets with finite lives, Net

2,356

2,363

Total, Gross

4,533

4,539

Total, Net

2,369

2,541

Technology [Member]

Acquired Finite-Lived Intangible Assets [Line Items]

Total purchased intangible assets with finite lives, Gross

2,128

1,961

Total purchased intangible assets with finite lives, Accumulated Amortization

(642)

(561)

Total purchased intangible assets with finite lives, Net

1,486

1,400

Customer Relationships [Member]

Acquired Finite-Lived Intangible Assets [Line Items]

Total purchased intangible assets with finite lives, Gross

2,269

2,277

Total purchased intangible assets with finite lives, Accumulated Amortization

(1,425)

(1,346)

Total purchased intangible assets with finite lives, Net

844

931

Other Purchased Intangible Assets [Member]

Acquired Finite-Lived Intangible Assets [Line Items]

Total purchased intangible assets with finite lives, Gross

123

Total purchased intangible assets with finite lives, Accumulated Amortization

(97)

(91)

Total purchased intangible assets with finite lives, Net

26

32

In-Process Research & Development, With Indefinite Lives [Member]

Acquired Finite-Lived Intangible Assets [Line Items]

In-process research & development, with indefinite lives, Gross

13

178

In-process research & development, with indefinte lives, net

$ 13

$ 178

Goodwill And Purchased Intangible Assets (Schedule Of Amortization Of Purchased Intangible Assets) (Details) (USD $)

In Millions

3 Months Ended
Oct. 29, 2011

3 Months Ended
Oct. 30, 2010

Acquired Finite-Lived Intangible Assets [Line Items]

Total

$ 195

$ 219

Cost Of Sales [Member]

Acquired Finite-Lived Intangible Assets [Line Items]

Amortization of purchased intangible assets

96

106

Operating Expenses [Member]

Acquired Finite-Lived Intangible Assets [Line Items]

Amortization of purchased intangible assets

$ 99

$ 113

Goodwill And Purchased Intangible Assets (Schedule Of Estimated Future Amortization Expense Of Purchased Intangible Assets) (Details) (USD $)

In Millions

3 Months Ended
Oct. 29, 2011

Goodwill And Purchased Intangible Assets [Abstract]

2012 (remaining nine months)

$ 580

2013

659

2014

474

2015

404

2016

187

Thereafter

52

Total

$ 2,356

Restructuring And Other Charges (Details) (USD $)

3 Months Ended
Oct. 29, 2011

3 Months Ended
Jul. 30, 2011

12 Months Ended
Jul. 30, 2011

Restructuring Cost and Reserve [Line Items]

Beginning balance

$ 262,000,000

$ 799,000,000

Charges

202,000,000

Cash payments

(297,000,000)

(449,000,000)

Non-cash items

(18,000,000)

(88,000,000)

Ending balance

149,000,000

262,000,000

Maximum expected pre-tax restructuring charges

1,300,000,000

Pre-tax restructuring charge

925,000,000

Restructuring charges

202,000,000

Employee severance charges

174,000,000

United States and Canada restructuring cost and reserve

38,000,000

Other restructuring charges

28,000,000

Voluntary Early Retirement Program [Member]

Restructuring Cost and Reserve [Line Items]

Beginning balance

17,000,000

453,000,000

Cash payments

(17,000,000)

(436,000,000)

Ending balance

17,000,000

Employee Severance [Member]

Restructuring Cost and Reserve [Line Items]

Beginning balance

234,000,000

247,000,000

Charges

174,000,000

Cash payments

(276,000,000)

(13,000,000)

Ending balance

132,000,000

234,000,000

Goodwill And Intangible Assets [Member]

Restructuring Cost and Reserve [Line Items]

Beginning balance

71,000,000

Non-cash items

(71,000,000)

Other [Member]

Restructuring Cost and Reserve [Line Items]

Beginning balance

11,000,000

28,000,000

Charges

28,000,000

Cash payments

(4,000,000)

Non-cash items

(18,000,000)

(17,000,000)

Ending balance

17,000,000

11,000,000

International Locations [Member]

Restructuring Cost and Reserve [Line Items]

Employee severance charges

$ 212,000,000

Balance Sheet Details (Details) (USD $)

In Millions

Oct. 29, 2011

Jul. 30, 2011

Balance Sheet Details [Abstract]

Raw materials

$ 193

$ 219

Work in process

43

52

Distributor inventory and deferred cost of sales

684

631

Manufactured finished goods

437

331

Total finished goods

1,121

962

Service-related spares

195

182

Demonstration systems

70

71

Total

1,622

1,486

Land, buildings, and building & leasehold improvements

4,616

4,760

Computer equipment and related software

1,410

1,429

Production, engineering, and other equipment

5,075

5,093

Operating lease assets

293 ¹

Furniture and fixtures

486

491

Property, plant and equipment, gross

11,880

12,066

Less accumulated depreciation and amortization

(8,127)¹

(8,150)¹

Total

3,753

3,916

Accumulated depreciation related to operating lease assets

171

169

Deferred tax assets

1,895

1,864

Investments in privately held companies

898

796

Other

750

441

Total

3,543

3,101

Service

8,321

8,521

Unrecognized revenue on product shipments and other deferred revenue

3,209

3,003

Cash receipts related to unrecognized revenue from two-tier distributors

866

683

Total product deferred revenue

4,075

3,686

Total

12,396

12,207

Current

8,444

8,025

Noncurrent

3,952

4,182

Total

$ 12,396

$ 12,207

[1] Accumulated depreciation related to operating lease assets was $171 and $169 as of October 29, 2011 and July 30, 2011, respectively.

Financing Receivables And Guarantees (Narrative) (Details) (USD $)

3 Months Ended
Oct. 29, 2011

3 Months Ended
Oct. 30, 2010

Jul. 30, 2011

Guarantor Obligations [Line Items]

Average term of lease and loan arrangements, years

4

Term of loan receivable arrangement, years

3

Revenue recognition range, low end, in years

1

Revenue recognition range, high end, in years

3

Financing receivable, allowance for credit loss and deferred revenue

$ 2,644,000,000

$ 2,793,000,000

Financing receivables, net of unearned income

6,874,000,000

Financing receivables, 90 days past due on accrual status

48,000,000

50,000,000

Credit Rating Ranking [Member]

Guarantor Obligations [Line Items]

Financing credit risk rating-investment-lowest

1

Financing credit risk rating-investment-highest

4

Financing credit risk rating-non investment-lowest

5

Financing credit risk rating-non investment-highest

6

Financing Credit Risk Rating-Substandard

7

Financing Credit Risk Rating-Impaired

8

Financing Guarantee [Member]

Guarantor Obligations [Line Items]

Volume of financing

608,000,000

613,000,000

Financing Guarantee [Member] |
Channel Partner [Member]

Guarantor Obligations [Line Items]

Volume of financing

349,000,000

336,000,000

Financing Guarantee [Member] |
End User [Member]

Guarantor Obligations [Line Items]

Volume of financing

259,000,000

277,000,000

Guarantee Of Indebtedness Of Others [Member] |
End User [Member]

Guarantor Obligations [Line Items]

Volume of financing

411,000,000

283,000,000

Credit Loss Allowances [Member]

Guarantor Obligations [Line Items]

Financing receivables, net of unearned income

6,874,000,000

6,966,000,000

Channel Partner [Member]

Guarantor Obligations [Line Items]

Channel partners revolving short-term financing payment term, minimum (days)

60

Channel partners revolving short-term financing payment term, maximum (days)

90

Gross transaction volume financed

5,300,000,000

4,500,000,000

Balance of the channel partner financing subject to guarantees

1,500,000,000

1,400,000,000

End User [Member]

Guarantor Obligations [Line Items]

Gross transaction volume financed

$ 35,000,000

Financing Receivables And Guarantees (Financing Receivables) (Details) (USD $)

In Millions

Oct. 29, 2011

Jul. 30, 2011

Financing Receivables [Line Items]

Deferred revenue associated with financing guarantees

$ 1,940

$ 2,044

Lease Receivables [Member]

Financing Receivables [Line Items]

Gross

3,086

3,111

Unearned income

(237)

(250)

Allowance for credit loss

(233)

(237)

Current

1,054

1,087

Noncurrent

1,562

1,537

Total, net

2,616

2,624

Loan Receivables [Member]

Financing Receivables [Line Items]

Gross

1,468

Allowance for credit loss

(103)

Current

861

673

Noncurrent

504

692

Total, net

1,365

Financed Service Contracts & Other [Member]

Financing Receivables [Line Items]

Gross

2,557 ¹

2,637 ¹

Allowance for credit loss

(29)¹

(27)¹

Current

1,385 ¹

1,351 ¹

Noncurrent

1,143 ¹

1,259 ¹

Total, net

2,528 ¹

2,610 ¹

Total Financing Receivables [Member]

Financing Receivables [Line Items]

Gross

7,111

7,216

Unearned income

(237)

(250)

Allowance for credit loss

(365)

(367)

Current

3,300

3,111

Noncurrent

3,209

3,488

Total, net

$ 6,509

$ 6,599

[1] As of October 29, 2011 and July 30, 2011, the deferred service revenue related to financed service contracts and other was $1,940 million and $2,044 million, respectively.

Financing Receivables And Guarantees (Contractual Maturities Of The Gross Lease Receivables) (Details) (USD $)

In Millions

Oct. 29, 2011

Financing Receivables And Guarantees [Abstract]

2012 (remaining nine months)

$ 978

2013

988

2014

677

2015

325

2016

109

Thereafter

9

Total

$ 3,086

Financing Receivables And Guarantees (Schedule Of Internal Credit Risk Rating For Each Portfolio Segment And Class) (Details) (USD $)

In Millions

Oct. 29, 2011

Jul. 30, 2011

Financing Receivable, Recorded Investment [Line Items]

Gross receivables, net of unearned income

$ 6,874

Lease Receivables [Member]

Financing Receivable, Recorded Investment [Line Items]

Gross receivables, net of unearned income

2,849

Lease Receivables [Member] |
Established Markets [Member] |
Internal Credit Risk Rating 1 To 4 [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

1,193

1,214

Lease Receivables [Member] |
Established Markets [Member] |
Internal Credit Risk Rating 5 To 6 [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

1,190

1,182

Lease Receivables [Member] |
Established Markets [Member] |
Internal Credit Rating 7 And Higher [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

20

23

Lease Receivables [Member] |
Established Markets [Member] |
Total Internal Credit Risk Rating [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

2,403

2,419

Lease Receivables [Member] |
Established Markets [Member] |
Residual Value [Member]

Financing Receivable, Recorded Investment [Line Items]

Residual Value

291

292

Lease Receivables [Member] |
Established Markets [Member] |
Gross Receivables, Net Of Unearned Income [Member]

Financing Receivable, Recorded Investment [Line Items]

Gross receivables, net of unearned income

2,694

2,711

Lease Receivables [Member] |
Growth Markets [Member] |
Internal Credit Risk Rating 1 To 4 [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

51

Lease Receivables [Member] |
Growth Markets [Member] |
Internal Credit Risk Rating 5 To 6 [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

90

Lease Receivables [Member] |
Growth Markets [Member] |
Internal Credit Rating 7 And Higher [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

10

Lease Receivables [Member] |
Growth Markets [Member] |
Total Internal Credit Risk Rating [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

151

Lease Receivables [Member] |
Growth Markets [Member] |
Residual Value [Member]

Financing Receivable, Recorded Investment [Line Items]

Residual Value

4

Lease Receivables [Member] |
Growth Markets [Member] |
Gross Receivables, Net Of Unearned Income [Member]

Financing Receivable, Recorded Investment [Line Items]

Gross receivables, net of unearned income

155

Lease Receivables [Member] |
Internal Credit Risk Rating 1 To 4 [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

35

Lease Receivables [Member] |
Internal Credit Risk Rating 5 To 6 [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

93

Lease Receivables [Member] |
Internal Credit Rating 7 And Higher [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

18

Lease Receivables [Member] |
Total Internal Credit Risk Rating [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

146

Lease Receivables [Member] |
Residual Value [Member]

Financing Receivable, Recorded Investment [Line Items]

Residual Value

4

Lease Receivables [Member] |
Gross Receivables, Net Of Unearned Income [Member]

Financing Receivable, Recorded Investment [Line Items]

Gross receivables, net of unearned income

150

Loan Receivables [Member]

Financing Receivable, Recorded Investment [Line Items]

Gross receivables, net of unearned income

1,468

Loan Receivables [Member] |
Established Markets [Member] |
Internal Credit Risk Rating 1 To 4 [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

206

204

Loan Receivables [Member] |
Established Markets [Member] |
Internal Credit Risk Rating 5 To 6 [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

258

187

Loan Receivables [Member] |
Established Markets [Member] |
Internal Credit Rating 7 And Higher [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

6

4

Loan Receivables [Member] |
Established Markets [Member] |
Total Internal Credit Risk Rating [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

470

395

Loan Receivables [Member] |
Established Markets [Member] |
Gross Receivables, Net Of Unearned Income [Member]

Financing Receivable, Recorded Investment [Line Items]

Gross receivables, net of unearned income

470

395

Loan Receivables [Member] |
Growth Markets [Member] |
Internal Credit Risk Rating 1 To 4 [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

428

Loan Receivables [Member] |
Growth Markets [Member] |
Internal Credit Risk Rating 5 To 6 [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

554

Loan Receivables [Member] |
Growth Markets [Member] |
Internal Credit Rating 7 And Higher [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

16

Loan Receivables [Member] |
Growth Markets [Member] |
Total Internal Credit Risk Rating [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

998

Loan Receivables [Member] |
Growth Markets [Member] |
Gross Receivables, Net Of Unearned Income [Member]

Financing Receivable, Recorded Investment [Line Items]

Gross receivables, net of unearned income

998

Loan Receivables [Member] |
Internal Credit Risk Rating 1 To 4 [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

458

Loan Receivables [Member] |
Internal Credit Risk Rating 5 To 6 [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

580

Loan Receivables [Member] |
Internal Credit Rating 7 And Higher [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

35

Loan Receivables [Member] |
Total Internal Credit Risk Rating [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

1,073

Loan Receivables [Member] |
Gross Receivables, Net Of Unearned Income [Member]

Financing Receivable, Recorded Investment [Line Items]

Gross receivables, net of unearned income

1,073

Financed Service Contracts & Other [Member]

Financing Receivable, Recorded Investment [Line Items]

Gross receivables, net of unearned income

2,557

Financed Service Contracts & Other [Member] |
Established Markets [Member] |
Internal Credit Risk Rating 1 To 4 [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

1,610

Financed Service Contracts & Other [Member] |
Established Markets [Member] |
Internal Credit Risk Rating 5 To 6 [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

870

Financed Service Contracts & Other [Member] |
Established Markets [Member] |
Internal Credit Rating 7 And Higher [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

49

Financed Service Contracts & Other [Member] |
Established Markets [Member] |
Total Internal Credit Risk Rating [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

2,529

Financed Service Contracts & Other [Member] |
Established Markets [Member] |
Gross Receivables, Net Of Unearned Income [Member]

Financing Receivable, Recorded Investment [Line Items]

Gross receivables, net of unearned income

2,529

Financed Service Contracts & Other [Member] |
Growth Markets [Member] |
Internal Credit Risk Rating 1 To 4 [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

5

1

Financed Service Contracts & Other [Member] |
Growth Markets [Member] |
Internal Credit Risk Rating 5 To 6 [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

19

Financed Service Contracts & Other [Member] |
Growth Markets [Member] |
Internal Credit Rating 7 And Higher [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

4

Financed Service Contracts & Other [Member] |
Growth Markets [Member] |
Total Internal Credit Risk Rating [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

28

24

Financed Service Contracts & Other [Member] |
Growth Markets [Member] |
Gross Receivables, Net Of Unearned Income [Member]

Financing Receivable, Recorded Investment [Line Items]

Gross receivables, net of unearned income

28

24

Financed Service Contracts & Other [Member] |
Internal Credit Risk Rating 1 To 4 [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

1,622

Financed Service Contracts & Other [Member] |
Internal Credit Risk Rating 5 To 6 [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

939

Financed Service Contracts & Other [Member] |
Internal Credit Rating 7 And Higher [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

52

Financed Service Contracts & Other [Member] |
Total Internal Credit Risk Rating [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

2,613

Financed Service Contracts & Other [Member] |
Gross Receivables, Net Of Unearned Income [Member]

Financing Receivable, Recorded Investment [Line Items]

Gross receivables, net of unearned income

2,613

Established Markets [Member] |
Internal Credit Risk Rating 1 To 4 [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

3,009

3,040

Established Markets [Member] |
Internal Credit Risk Rating 5 To 6 [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

2,318

2,308

Established Markets [Member] |
Internal Credit Rating 7 And Higher [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

75

79

Established Markets [Member] |
Total Internal Credit Risk Rating [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

5,402

5,427

Established Markets [Member] |
Residual Value [Member]

Financing Receivable, Recorded Investment [Line Items]

Residual Value

291

292

Established Markets [Member] |
Gross Receivables, Net Of Unearned Income [Member]

Financing Receivable, Recorded Investment [Line Items]

Gross receivables, net of unearned income

5,693

5,719

Growth Markets [Member] |
Internal Credit Risk Rating 1 To 4 [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

484

494

Growth Markets [Member] |
Internal Credit Risk Rating 5 To 6 [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

663

692

Growth Markets [Member] |
Internal Credit Rating 7 And Higher [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

30

57

Growth Markets [Member] |
Total Internal Credit Risk Rating [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

1,177

1,243

Growth Markets [Member] |
Residual Value [Member]

Financing Receivable, Recorded Investment [Line Items]

Residual Value

4

Growth Markets [Member] |
Gross Receivables, Net Of Unearned Income [Member]

Financing Receivable, Recorded Investment [Line Items]

Gross receivables, net of unearned income

1,181

1,247

Internal Credit Risk Rating 1 To 4 [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

3,493

3,534

Internal Credit Risk Rating 5 To 6 [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

2,981

3,000

Internal Credit Rating 7 And Higher [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

105

136

Total Internal Credit Risk Rating [Member]

Financing Receivable, Recorded Investment [Line Items]

Internal Credit Risk Rating

6,579

6,670

Residual Value [Member]

Financing Receivable, Recorded Investment [Line Items]

Residual Value

295

296

Gross Receivables, Net Of Unearned Income [Member]

Financing Receivable, Recorded Investment [Line Items]

Gross receivables, net of unearned income

$ 6,874

$ 6,966

Financing Receivables And Guarantees (Schedule Of Financing Receivables By Portfolio Segment And Class Aging Analysis) (Details) (USD $)

In Millions

Oct. 29, 2011

Jul. 30, 2011

Financing Receivable, Recorded Investment [Line Items]

31-60 Days Past Due

$ 176 ¹

$ 165 ¹

61-90 Days Past Due

181 ¹

75 ¹

Greater than 90 Days Past Due

382 ¹ ²

438 ¹ ²

Total past due

739

678

Current

6,135

6,288

Gross Receivables, Net of Unearned Income

6,874

6,966

Non-Accrual Financing Receivables

47

55

Impaired Financing Receivables

26

34

Lease Receivables [Member]

Financing Receivable, Recorded Investment [Line Items]

Amounts greater than 90 days past due

102

116

Lease Receivables [Member] |
Established Markets [Member]

Financing Receivable, Recorded Investment [Line Items]

31-60 Days Past Due

103 ¹

85 ¹

61-90 Days Past Due

75 ¹

33 ¹

Greater than 90 Days Past Due

127 ¹ ²

139 ¹ ²

Total past due

305

257

Current

2,389

2,454

Gross Receivables, Net of Unearned Income

2,694

2,711

Non-Accrual Financing Receivables

18

16

Impaired Financing Receivables

6

Lease Receivables [Member] |
Growth Markets [Member]

Financing Receivable, Recorded Investment [Line Items]

31-60 Days Past Due

4 ¹

61-90 Days Past Due

5 ¹

2 ¹

Greater than 90 Days Past Due

2 ¹ ²

13 ¹ ²

Total past due

11

19

Current

144

131

Gross Receivables, Net of Unearned Income

155

150

Non-Accrual Financing Receivables

9

18

Impaired Financing Receivables

9

18

Loan Receivables [Member]

Financing Receivable, Recorded Investment [Line Items]

Amounts greater than 90 days past due

10

15

Loan Receivables [Member] |
Established Markets [Member]

Financing Receivable, Recorded Investment [Line Items]

31-60 Days Past Due

3 ¹

6 ¹

61-90 Days Past Due

4 ¹

1 ¹

Greater than 90 Days Past Due

9 ¹ ²

Total past due

16

Current

454

379

Gross Receivables, Net of Unearned Income

470

395

Non-Accrual Financing Receivables

2

1

Impaired Financing Receivables

2

1

Loan Receivables [Member] |
Growth Markets [Member]

Financing Receivable, Recorded Investment [Line Items]

31-60 Days Past Due

2 ¹

61-90 Days Past Due

6 ¹

Greater than 90 Days Past Due

3 ¹ ²

12 ¹ ²

Total past due

5

20

Current

993

1,053

Gross Receivables, Net of Unearned Income

998

1,073

Non-Accrual Financing Receivables

4

3

Impaired Financing Receivables

3

Financed Service Contracts & Other [Member] |
Established Markets [Member]

Financing Receivable, Recorded Investment [Line Items]

31-60 Days Past Due

64 ¹

68 ¹

61-90 Days Past Due

97 ¹

33 ¹

Greater than 90 Days Past Due

241 ¹ ²

265 ¹ ²

Total past due

402

366

Current

2,127

2,247

Gross Receivables, Net of Unearned Income

2,529

2,613

Non-Accrual Financing Receivables

14

17

Impaired Financing Receivables

6

Financed Service Contracts & Other [Member] |
Growth Markets [Member]

Financing Receivable, Recorded Investment [Line Items]

Current

28

24

Gross Receivables, Net of Unearned Income

28

24

Financed Service Contracts [Member]

Financing Receivable, Recorded Investment [Line Items]

Amounts greater than 90 days past due

212

230

Established Markets [Member]

Financing Receivable, Recorded Investment [Line Items]

31-60 Days Past Due

170 ¹

159 ¹

61-90 Days Past Due

176 ¹

67 ¹

Greater than 90 Days Past Due

377 ¹ ²

413 ¹ ²

Total past due

723

639

Current

4,970

5,080

Gross Receivables, Net of Unearned Income

5,693

5,719

Non-Accrual Financing Receivables

34

Impaired Financing Receivables

14

13

Growth Markets [Member]

Financing Receivable, Recorded Investment [Line Items]

31-60 Days Past Due

6 ¹

61-90 Days Past Due

5 ¹

8 ¹

Greater than 90 Days Past Due

5 ¹ ²

25 ¹ ²

Total past due

16

39

Current

1,165

1,208

Gross Receivables, Net of Unearned Income

1,181

1,247

Non-Accrual Financing Receivables

13

21

Impaired Financing Receivables

$ 12

$ 21

[1] 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 are 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. The preceding aging tables also exclude pending adjustments on billed tax assessment in certain international markets.

[2] The balances of either unbilled or current financing receivables included in the greater-than-90 days past due category for lease receivables, loan receivables, and financed service contracts and other were $102 million, $10 million, and $212 million, respectively, as of October 29, 2011. Such balances for the same category of receivables were $116 million, $15 million, and $230 million, respectively, as of July 30, 2011.

Financing Receivables And Guarantees (Allowance For Credit Loss And Related Financing Receivables) (Details) (USD $)

In Millions

3 Months Ended
Oct. 29, 2011

Financing Receivable, Allowance for Credit Losses [Line Items]

Allowance for credit loss, beginning balance

$ 367

Provisions

9

Foreign exchange and other

(11)

Allowance for credit loss, ending balance

365

Gross receivables, net of unearned income

6,874

Lease Receivables [Member]

Financing Receivable, Allowance for Credit Losses [Line Items]

Allowance for credit loss, beginning balance

237

Provisions

2

Foreign exchange and other

(6)

Allowance for credit loss, ending balance

233

Gross receivables, net of unearned income

2,849

Loan Receivables [Member]

Financing Receivable, Allowance for Credit Losses [Line Items]

Allowance for credit loss, beginning balance

103

Provisions

5

Foreign exchange and other

(5)

Allowance for credit loss, ending balance

103

Gross receivables, net of unearned income

1,468

Financed Service Contracts & Other [Member]

Financing Receivable, Allowance for Credit Losses [Line Items]

Allowance for credit loss, beginning balance

27

Provisions

2

Allowance for credit loss, ending balance

29

Gross receivables, net of unearned income

$ 2,557

Financing Receivables And Guarantees (Financing Guarantees) (Details) (USD $)

In Millions

Oct. 29, 2011

Jul. 30, 2011

Guarantor Obligations [Line Items]

Deferred revenue associated with financing guarantees

$ (12,396)

$ (12,207)

Financing Guarantee [Member]

Guarantor Obligations [Line Items]

Maximum potential future payments relating to financing guarantees

608

613

Deferred revenue associated with financing guarantees

(495)

(496)

Maximum potential future payments relating to financing guarantees, net of associated deferred revenue

113

117

Financing Guarantee [Member] |
Channel Partner [Member]

Guarantor Obligations [Line Items]

Maximum potential future payments relating to financing guarantees

349

336

Deferred revenue associated with financing guarantees

(261)

(248)

Financing Guarantee [Member] |
End User [Member]

Guarantor Obligations [Line Items]

Maximum potential future payments relating to financing guarantees

259

277

Deferred revenue associated with financing guarantees

$ (234)

$ (248)

Investments (Narrative) (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended
Oct. 29, 2011

3 Months Ended
Oct. 30, 2010

Jul. 30, 2011

Schedule of Investments [Line Items]

Average balance of securities lending

$ 1,700.0

$ 2,100.0

Minimum market value percentage for collateral on loaned securities

102.00%

Secured lending transactions outstanding

0

Available-For-Sale Investments [Member]

Schedule of Investments [Line Items]

Impairment charges

$ 0

Investments (Summary Of Available-For-Sale Investments) (Details) (USD $)

In Millions

Oct. 29, 2011

Jul. 30, 2011

Available-for-sale investments: [Line Items]

Amortized Cost

$ 38,940

$ 36,135

Gross Unrealized Gains

743

810

Gross Unrealized Losses

(42)

(22)

Fair Value

39,641

36,923

U.S. Government Securities [Member]

Available-for-sale investments: [Line Items]

Amortized Cost

20,206

19,087

Gross Unrealized Gains

53

52

Gross Unrealized Losses

(5)

Fair Value

20,254

19,139

U.S. Government Agency Securities [Member]

Available-for-sale investments: [Line Items]

Amortized Cost

10,026 ¹

8,742 ¹

Gross Unrealized Gains

27 ¹

35 ¹

Gross Unrealized Losses

(4)¹

(1)¹

Fair Value

10,049 ¹

8,776 ¹

Non-U.S. Government And Agency Securities [Member]

Available-for-sale investments: [Line Items]

Amortized Cost

3,516 ²

3,119 ²

Gross Unrealized Gains

12 ²

14 ²

Gross Unrealized Losses

(3)²

(1)²

Fair Value

3,525 ²

3,132 ²

Corporate Debt Securities [Member]

Available-for-sale investments: [Line Items]

Amortized Cost

4,299

4,333

Gross Unrealized Gains

44

65

Gross Unrealized Losses

(23)

(4)

Fair Value

4,320

4,394

Asset-Backed Securities [Member]

Available-for-sale investments: [Line Items]

Amortized Cost

116

120

Gross Unrealized Gains

4

5

Gross Unrealized Losses

(4)

Fair Value

116

121

Total Fixed Income Securities [Member]

Available-for-sale investments: [Line Items]

Amortized Cost

38,163

35,401

Gross Unrealized Gains

140

171

Gross Unrealized Losses

(39)

(10)

Fair Value

38,264

35,562

Publicly Traded Equity Securities [Member]

Available-for-sale investments: [Line Items]

Amortized Cost

777

734

Gross Unrealized Gains

603

639

Gross Unrealized Losses

(3)

(12)

Fair Value

$ 1,377

$ 1,361

[1] Includes corporate debt securities that are guaranteed by the Federal Deposit Insurance Corporation (FDIC).

[2] Includes agency and corporate debt securities that are guaranteed by non-U.S. governments.

Investments (Net Realized Gains And Losses Related To Available-For-Sale Investments) (Details) (USD $)

In Millions

3 Months Ended
Oct. 29, 2011

3 Months Ended
Oct. 30, 2010

Schedule of Available-for-sale Securities [Line Items]

Total net realized gains (losses)

$ 9

$ 90

Publicly Traded Equity Securities [Member]

Schedule of Available-for-sale Securities [Line Items]

Total net realized gains (losses)

(16)

19

Fixed Income Securities [Member]

Schedule of Available-for-sale Securities [Line Items]

Total net realized gains (losses)

$ 25

$ 71

Investments (Credit Losses For Fixed Income Securities) (Details) (USD $)

In Millions

3 Months Ended
Oct. 30, 2010

Oct. 29, 2011

Jul. 30, 2011

Investments [Abstract]

Balance at beginning of period

$ (95)

$ (23)

Sales of other-than-temporarily impaired fixed income securities

27

Balance at end of period

$ (68)

$ (23)

Investments (Available-For-Sale Investments With Gross Unrealized Losses) (Details) (USD $)

In Millions

Oct. 29, 2011

Jul. 30, 2011

Schedule of Investments [Line Items]

Gross unrealized losses less than 12 months, Fair value

$ 10,413

$ 3,845

Gross unrealized losses less than 12 months

(34)

(16)

Gross unrealized losses 12 months or greater, Fair value

169

161

Gross unrealized losses 12 months or greater

(8)

(6)

Total gross unrealized losses, Fair value

10,582

4,006

Total gross unrealized losses

(42)

(22)

U.S. Government Securities [Member]

Schedule of Investments [Line Items]

Gross unrealized losses less than 12 months, Fair value

4,767

Gross unrealized losses less than 12 months

(5)

Total gross unrealized losses, Fair value

4,767

Total gross unrealized losses

(5)

U.S. Government Agency Securities [Member]

Schedule of Investments [Line Items]

Gross unrealized losses less than 12 months, Fair value

2,490 ¹

2,310 ¹

Gross unrealized losses less than 12 months

(4)¹

(1)¹

Total gross unrealized losses, Fair value

2,490 ¹

2,310 ¹

Total gross unrealized losses

(4)¹

(1)¹

Non-U.S. Government And Agency Securities [Member]

Schedule of Investments [Line Items]

Gross unrealized losses less than 12 months, Fair value

1,603 ²

875 ²

Gross unrealized losses less than 12 months

(3)²

(1)²

Total gross unrealized losses, Fair value

1,603 ²

875 ²

Total gross unrealized losses

(3)²

(1)²

Corporate Debt Securities [Member]

Schedule of Investments [Line Items]

Gross unrealized losses less than 12 months, Fair value

1,528

548

Gross unrealized losses less than 12 months

(19)

(2)

Gross unrealized losses 12 months or greater, Fair value

68

56

Gross unrealized losses 12 months or greater

(4)

(2)

Total gross unrealized losses, Fair value

1,596

604

Total gross unrealized losses

(23)

(4)

Asset-Backed Securities [Member]

Schedule of Investments [Line Items]

Gross unrealized losses 12 months or greater, Fair value

101

105

Gross unrealized losses 12 months or greater

(4)

Total gross unrealized losses, Fair value

101

105

Total gross unrealized losses

(4)

Total Fixed Income Securities [Member]

Schedule of Investments [Line Items]

Gross unrealized losses less than 12 months, Fair value

10,388

3,733

Gross unrealized losses less than 12 months

(31)

(4)

Gross unrealized losses 12 months or greater, Fair value

169

161

Gross unrealized losses 12 months or greater

(8)

(6)

Total gross unrealized losses, Fair value

10,557

3,894

Total gross unrealized losses

(39)

(10)

Publicly Traded Equity Securities [Member]

Schedule of Investments [Line Items]

Gross unrealized losses less than 12 months, Fair value

25

112

Gross unrealized losses less than 12 months

(3)

(12)

Total gross unrealized losses, Fair value

25

112

Total gross unrealized losses

$ (3)

$ (12)

[1] Includes corporate debt securities that are guaranteed by the FDIC.

[2] Includes agency and corporate debt securities that are guaranteed by non-U.S. governments.

Investments (Maturities Of Fixed Income Securities) (Details) (USD $)

In Millions

Oct. 29, 2011

Jul. 30, 2011

Schedule of Investments [Line Items]

Amortized Cost

$ 38,940

$ 36,135

Fair Value

39,641

36,923

Less Than 1 Year [Member]

Schedule of Investments [Line Items]

Amortized Cost

18,989

Fair Value

19,017

Due In 1 To 2 Years [Member]

Schedule of Investments [Line Items]

Amortized Cost

11,927

Fair Value

11,971

Due In 2 To 5 Years [Member]

Schedule of Investments [Line Items]

Amortized Cost

7,045

Fair Value

7,069

Due After 5 Years [Member]

Schedule of Investments [Line Items]

Amortized Cost

202

Fair Value

207

Total [Member]

Schedule of Investments [Line Items]

Amortized Cost

38,163

Fair Value

$ 38,264

Fair Value (Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) (USD $)

In Millions

3 Months Ended
Oct. 29, 2011

Jul. 30, 2011

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Derivative assets, fair value measurements

$ 243

$ 222

Fair value measurements transfers between Level 1 and Level 2

0

Available-For-Sale Investments [Member] |
Publicly Traded Equity Securities [Member] |
Fair Value Measured On A Recurring Basis - Level 1 [Member]

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Assets, fair value measurements

1,377

1,361

Available-For-Sale Investments [Member] |
Publicly Traded Equity Securities [Member] |
Total Balance Fair Value Measurements [Member]

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Assets, fair value measurements

1,377

1,361

Non-U.S. Government And Agency Securities [Member] |
Fair Value Measured On A Recurring Basis - Level 2 [Member]

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Assets, fair value measurements

3,525 ¹

3,132 ¹

Non-U.S. Government And Agency Securities [Member] |
Total Balance Fair Value Measurements [Member]

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Assets, fair value measurements

3,525 ¹

3,132 ¹

U.S. Government Agency Securities [Member] |
Fair Value Measured On A Recurring Basis - Level 2 [Member]

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Assets, fair value measurements

10,049 ²

8,776 ²

U.S. Government Agency Securities [Member] |
Total Balance Fair Value Measurements [Member]

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Assets, fair value measurements

10,049 ²

8,776 ²

Money Market Funds [Member] |
Fair Value Measured On A Recurring Basis - Level 1 [Member]

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Assets, fair value measurements

3,136

5,852

Money Market Funds [Member] |
Total Balance Fair Value Measurements [Member]

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Assets, fair value measurements

3,136

5,852

U.S. Government Securities [Member] |
Fair Value Measured On A Recurring Basis - Level 2 [Member]

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Assets, fair value measurements

20,254

19,139

U.S. Government Securities [Member] |
Total Balance Fair Value Measurements [Member]

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Assets, fair value measurements

20,254

19,139

Corporate Debt Securities [Member] |
Fair Value Measured On A Recurring Basis - Level 2 [Member]

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Assets, fair value measurements

4,320

4,394

Corporate Debt Securities [Member] |
Total Balance Fair Value Measurements [Member]

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Assets, fair value measurements

4,320

4,394

Cash Equivalents [Member] |
Fair Value Measured On A Recurring Basis - Level 2 [Member]

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Assets, fair value measurements

1 ²

Cash Equivalents [Member] |
Total Balance Fair Value Measurements [Member]

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Assets, fair value measurements

1 ²

Asset-Backed Securities [Member] |
Fair Value Measured On A Recurring Basis - Level 3 [Member]

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Assets, fair value measurements

116

121

Asset-Backed Securities [Member] |
Total Balance Fair Value Measurements [Member]

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Assets, fair value measurements

116

121

Fair Value Measured On A Recurring Basis - Level 1 [Member]

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total Assets Measured at Fair Value on a Recurring Basis

4,513

7,213

Derivative Assets [Member] |
Fair Value Measured On A Recurring Basis - Level 2 [Member]

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Derivative assets, fair value measurements

242

220

Derivative Liabilities [Member] |
Fair Value Measured On A Recurring Basis - Level 2 [Member]

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Liabilities, Fair Value Disclosure

42

24

Fair Value Measured On A Recurring Basis - Level 2 [Member]

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total Assets Measured at Fair Value on a Recurring Basis

38,390

35,662

Liabilities, Fair Value Disclosure

42

24

Derivative Assets [Member] |
Fair Value Measured On A Recurring Basis - Level 3 [Member]

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Derivative assets, fair value measurements

1

2

Fair Value Measured On A Recurring Basis - Level 3 [Member]

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total Assets Measured at Fair Value on a Recurring Basis

117

123

Derivative Assets [Member] |
Total Balance Fair Value Measurements [Member]

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Derivative assets, fair value measurements

243

222

Derivative Liabilities [Member] |
Total Balance Fair Value Measurements [Member]

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Liabilities, Fair Value Disclosure

42

24

Total Balance Fair Value Measurements [Member]

Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Total Assets Measured at Fair Value on a Recurring Basis

43,020

42,998

Liabilities, Fair Value Disclosure

$ 42

$ 24

[1] Includes agency and corporate debt securities that are guaranteed by non-U.S. governments.

[2] Includes corporate debt securities that are guaranteed by the FDIC.

Fair Value (Reconciliation For All Assets Measured At Fair Value On A Recurring Basis Using Significant Unobservable Inputs (Level 3)) (Details) (Fair Value Measured On A Recurring Basis - Level 3 [Member], USD $)

In Millions

3 Months Ended
Oct. 29, 2011

3 Months Ended
Oct. 30, 2010

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Beginning balance

$ 123

$ 152

Included in other income, net

(1)

Included in other comprehensive income

(1)

Sales and maturities

(5)

(6)

Ending balance

117

144

Losses attributable to assets still held

(1)

Derivative Assets [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Beginning balance

2

3

Included in other income, net

(1)

Ending balance

1

2

Losses attributable to assets still held

(1)

Asset-Backed Securities [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Beginning balance

121

149

Included in other comprehensive income

(1)

Sales and maturities

(5)

(6)

Ending balance

$ 116

$ 142

Fair Value (Fair Value On A Nonrecurring Basis) (Details) (Fair Value, Measurements, Nonrecurring [Member], USD $)

In Millions

Oct. 29, 2011

Oct. 30, 2010

Net Carrying Value [Member]

Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items]

Investments in privately held companies

$ 1

$ 9

Property held for sale

24

Fair Value Measured On A Recurring Basis - Level 3 [Member]

Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items]

Investments in privately held companies

1

9

Property held for sale

24

Total Losses For Year End [Member]

Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items]

Investments in privately held companies

1

3

Property held for sale

89

Total

$ 90

Borrowings (Narrative) (Details) (USD $)

3 Months Ended
Oct. 29, 2011

Jul. 30, 2011

Debt Instrument [Line Items]

Short-term debt financing program, announced value

$ 3,000,000,000

Debt instrument, maturity date, description

three months or less

Notional amount of interest rate derivatives

0

Fair value of long-term debt

17,900,000,000

Senior Notes Issued March 2011 [Member]

Debt Instrument [Line Items]

Notional amount of interest rate derivatives

4,250,000,000

Unsecured Revolving Credit Facility [Member]

Debt Instrument [Line Items]

Unsecured revolving credit facility that is scheduled to expire on August 17, 2012

3,000,000,000

Unsecured revolving credit facility maturity date

August 17, 2012

LIBOR plus margin based on the Company's senior debt S&P or Moody's credit ratings

0.50%

Extended expiration date of credit facility

August 15, 2014

Additional increase to the commitments under the credit facility

1,900,000,000

Funds borrowed under credit facility

$ 0

Borrowings (Short-Term Debt) (Details) (USD $)

In Millions, unless otherwise specified

Oct. 29, 2011

Jul. 30, 2011

Short-term Debt [Line Items]

Short-term debt, Weighted-Average Interest Rate

Short-term debt

$ 589

$ 588

Commercial Paper [Member]

Short-term Debt [Line Items]

Short-term debt, Weighted-Average Interest Rate

0.13%

0.14%

Short-term debt

500

Other Notes And Borrowings [Member]

Short-term Debt [Line Items]

Short-term debt, Weighted-Average Interest Rate

6.12%

4.59%

Short-term debt

$ 89

$ 88

Borrowings (Schedule Of Long-Term Debt) (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended
Oct. 29, 2011

Jul. 30, 2011

Debt Instrument [Line Items]

Unaccreted discount

$ (72)

$ (73)

Hedge accounting adjustment

336

307

Long-term debt including current portion before unaccreted discount and hedge accounting adjustment

16,000

Total long-term debt

16,264

16,234

Floating-Rate Notes, Due 2014 [Member]

Debt Instrument [Line Items]

Senior notes

1,250

Effective rate

0.69%

0.60%

Debt instrument maturity

2014

2.90% Fixed-Rate Notes, Due 2014 [Member]

Debt Instrument [Line Items]

Senior notes

500

Effective rate

3.11%

Fixed interest rate

2.90%

Debt instrument maturity

2014

1.625% Fixed-Rate Notes, Due 2014 [Member]

Debt Instrument [Line Items]

Senior notes

2,000

Effective rate

0.67%

0.58%

Fixed interest rate

1.625%

Debt instrument maturity

2014

5.50% Fixed-Rate Notes, Due 2016 [Member]

Debt Instrument [Line Items]

Senior notes

3,000

Effective rate

3.08%

3.06%

Fixed interest rate

5.50%

Debt instrument maturity

2016

3.15% Fixed-Rate Notes, Due 2017 [Member]

Debt Instrument [Line Items]

Senior notes

750

Effective rate

0.91%

0.81%

Fixed interest rate

3.15%

Debt instrument maturity

2017

4.95% Fixed-Rate Notes, Due 2019 [Member]

Debt Instrument [Line Items]

Senior notes

2,000

Effective rate

5.08%

Fixed interest rate

4.95%

Debt instrument maturity

2019

4.45% Fixed-Rate Notes, Due 2020 [Member]

Debt Instrument [Line Items]

Senior notes

2,500

Effective rate

4.50%

Fixed interest rate

4.45%

Debt instrument maturity

2020

5.90% Fixed-Rate Notes, Due 2039 [Member]

Debt Instrument [Line Items]

Senior notes

2,000

Effective rate

6.11%

Fixed interest rate

5.90%

Debt instrument maturity

2039

5.50% Fixed-Rate Notes, Due 2040 [Member]

Debt Instrument [Line Items]

Senior notes

$ 2,000

Effective rate

5.67%

Fixed interest rate

5.50%

Debt instrument maturity

2040

Borrowings (Schedule Of Principal Payments For Long-Term Debt ) (Details) (USD $)

In Millions

Oct. 29, 2011

Borrowings [Abstract]

2014

$ 3,250

2015

500

2016

3,000

Thereafter

9,250

Total

$ 16,000

Derivative Instruments (Narrative) (Details) (USD $)

In Millions

3 Months Ended
Oct. 29, 2011

3 Months Ended
Oct. 30, 2010

Jul. 30, 2011

Derivative [Line Items]

Net derivative losses to be reclassified from AOCI into earnings in next twelve months

$ 32

Foreign currency cash flow hedges maturity period, maximum, months

18

Loss in net investments in foreign subsidiaries

4

5

Interest rate derivatives related to its fixed income securities outstanding

0

Designated As Hedging Instrument [Member]

Derivative [Line Items]

Interest rate derivatives related to its fixed income securities outstanding

$ 4,250

Derivative Instruments (Derivatives Recorded At Fair Value) (Details) (USD $)

In Millions

Oct. 29, 2011

Jul. 30, 2011

Derivatives, Fair Value [Line Items]

Total derivative assets, fair value

$ 243

$ 222

Total derivative liabilities, fair value

42

24

Foreign Currency Derivatives-Cash Flow Hedges [Member] |
Designated As Hedging Instrument [Member] |
Other Current Assets [Member]

Derivatives, Fair Value [Line Items]

Total derivative assets, fair value

32

67

Foreign Currency Derivatives-Cash Flow Hedges [Member] |
Designated As Hedging Instrument [Member] |
Other Current Liabilities [Member]

Derivatives, Fair Value [Line Items]

Total derivative liabilities, fair value

30

12

Foreign Currency Derivatives-Cash Flow Hedges [Member] |
Derivatives Not Designated As Hedging Instruments [Member] |
Other Current Assets [Member]

Derivatives, Fair Value [Line Items]

Total derivative assets, fair value

30

7

Foreign Currency Derivatives-Cash Flow Hedges [Member] |
Derivatives Not Designated As Hedging Instruments [Member] |
Other Current Liabilities [Member]

Derivatives, Fair Value [Line Items]

Total derivative liabilities, fair value

12

Interest Rate Derivatives [Member] |
Designated As Hedging Instrument [Member] |
Other Assets [Member]

Derivatives, Fair Value [Line Items]

Total derivative assets, fair value

180

146

Equity Derivatives [Member] |
Derivatives Not Designated As Hedging Instruments [Member] |
Other Assets [Member]

Derivatives, Fair Value [Line Items]

Total derivative assets, fair value

1

2

Designated As Hedging Instrument [Member]

Derivatives, Fair Value [Line Items]

Total derivative assets, fair value

212

213

Total derivative liabilities, fair value

30

12

Derivatives Not Designated As Hedging Instruments [Member]

Derivatives, Fair Value [Line Items]

Total derivative assets, fair value

31

9

Total derivative liabilities, fair value

$ 12

Derivative Instruments (Gains And Losses On Derivatives Designated As Cash Flow Hedges) (Details) (USD $)

In Millions

3 Months Ended
Oct. 29, 2011

3 Months Ended
Oct. 30, 2010

Derivative [Line Items]

Gains (losses) recognized in OCI on derivatives (effective portion)

$ (50)

$ 55

Gains (losses) reclassified from AOCI into income

7

Foreign Currency Derivatives-Cash Flow Hedges [Member] |
Operating Expenses [Member]

Derivative [Line Items]

Gains (losses) reclassified from AOCI into income

6

Cost Of Sales-Service [Member]

Derivative [Line Items]

Gains (losses) reclassified from AOCI into income

1

Foreign Currency Derivatives-Cash Flow Hedges [Member]

Derivative [Line Items]

Gains (losses) recognized in OCI on derivatives (effective portion)

$ (50)

$ 55

Derivative Instruments (Effect Of Derivative Instruments Designated As Fair Value Hedges And Underlying Hedged Items On Consolidated Statements Of Operations Summary) (Details) (Interest Rate Derivatives [Member], Derivatives Designated As Fair Value Hedging Instruments [Member], Interest Expense [Member], USD $)

In Millions

3 Months Ended
Oct. 29, 2011

3 Months Ended
Oct. 30, 2010

Interest Rate Derivatives [Member] |
Derivatives Designated As Fair Value Hedging Instruments [Member] |
Interest Expense [Member]

Hedge Underlying Gain Loss [Line Items]

Gains (losses) on derivative instruments

$ 35

$ 30

Gains (losses) related to hedged items

$ (36)

$ (32)

Derivative Instruments (Effect Of Derivative Instruments Not Designated As Fair Value Hedges On Consolidated Statement Of Operations Summary) (Details) (Derivatives Not Designated As Hedging Instruments [Member], USD $)

In Millions

3 Months Ended
Oct. 29, 2011

3 Months Ended
Oct. 30, 2010

Derivative Instruments, Gain (Loss) [Line Items]

Gains (losses) recognized in income

$ (70)

$ 130

Foreign Currency Derivatives-Cash Flow Hedges [Member] |
Other Income, Net [Member]

Derivative Instruments, Gain (Loss) [Line Items]

Gains (losses) recognized in income

(57)

114

Total Return Swaps-Deferred Compensation [Member] |
Operating Expenses [Member]

Derivative Instruments, Gain (Loss) [Line Items]

Gains (losses) recognized in income

(20)

11

Equity Derivatives [Member] |
Other Income, Net [Member]

Derivative Instruments, Gain (Loss) [Line Items]

Gains (losses) recognized in income

$ 7

$ 5

Derivative Instruments (Schedule Of Notional Amounts Of Derivatives Outstanding) (Details) (USD $)

In Millions

Oct. 29, 2011

Jul. 30, 2011

Derivative Instruments, Gain (Loss) [Line Items]

Interest rate derivatives

$ 0

Total

12,507

12,583

Designated As Hedging Instrument [Member]

Derivative Instruments, Gain (Loss) [Line Items]

Foreign currency derivatives-cash flow hedges

2,707

3,433

Interest rate derivatives

4,250

Net investment hedging instruments

68

73

Derivatives Not Designated As Hedging Instruments [Member]

Derivative Instruments, Gain (Loss) [Line Items]

Foreign currency derivatives

5,220

4,565

Total return swaps

$ 262

Commitments And Contingencies (Narrative) (Details) (USD $)

3 Months Ended
Oct. 29,

Oct. 29, 2011

Jul. 30, 2011

Oct. 30, 2010

2011

Minimum [Member]

2011

Maximum [Member]

2011

Business Combination [Member]

Oct. 29, 2011

VCE [Member]

Site Contingency [Line Items]

Total purchase commitments for inventory

$ 4,178,000,000

$ 4,313,000,000

Liability for unconditional purchase agreements

164,000,000

168,000,000

Additional employees compensation

14,000,000

37,000,000

Future contingent consideration for employees compensation

53,000,000

Funding commitments

145,000,000

192,000,000

Equity method investment, carrying value

95,000,000

Cumulative investment in entity

205,000,000

Additional investment amount

96,000,000

Percentage of outstanding equity owned in entity

35.00%

Warranty period for products

90 days

five years

Brazilian authority claim of import tax evasion by importer, tax portion

483,000,000

Brazilian authority claim of import tax evasion by importer, interest portion

929,000,000

Brazilian authority claim of import tax evasion by importer, penalties portion

$ 2,200,000,000

Commitments And Contingencies (Schedule Of Future Minimum Lease Payments Under All Noncancelable Operating Leases) (Details) (USD $)

In Millions

Oct. 29, 2011

Commitments And Contingencies [Abstract]

2012 (remaining nine months)

$ 253

2013

256

2014

189

2015

155

2016

67

Thereafter

267

Total

$ 1,187

Commitments And Contingencies (Schedule Of Product Warranty Liability) (Details) (USD $)

In Millions

3 Months Ended
Oct. 29, 2011

3 Months Ended
Oct. 30, 2010

Commitments And Contingencies [Abstract]

Balance at beginning of period

$ 342

$ 360

Provision for warranties issued

151

110

Payments

(132)

(120)

Balance at end of period

$ 361

$ 350

Shareholders' Equity (Narrative) (Details) (USD $)

Share data in Millions, except Per Share data

3 Months Ended
Oct. 29, 2011

3 Months Ended
Oct. 30, 2010

Shareholders' Equity [Abstract]

Authorized common stock repurchase amount

$ 82,000,000,000

Remaining authorized repurchase amount

8,700,000,000

Cash dividends declared per common share

$ 0.06

Cash dividends paid

322,000,000

Shares repurchased in settlement of employee tax withholding obligations

9.0

6.0

Common stock repurchased in settlement of employee tax withholding obligations

$ 137,000,000

$ 127,000,000

Shareholders' Equity (Stock Repurchase Program) (Details) (USD $)

In Millions, except Per Share data

3 Months Ended
Oct. 29, 2011

Shareholders' Equity [Abstract]

Cumulative shares repurchased, beginning balance

3,478

Repurchase of common stock under the stock repurchase program, Shares Repurchased

100

Cumulative shares repurchased, ending balance

3,578

Cumulative Weighted-Average Price per Share, Beginning balance

$ 20.64

Repurchase of common stock under the stock repurchase program, Weighted-Average Price per Share

$ 15.37

Cumulative Weighted-Average Price per Share, Ending balance

$ 20.49

Cumulative Amount Repurchased, Beginning balance

$ 71,773

Repurchase of common stock under the stock repurchase program, Amount Repurchased

1,544

Cumulative Amount Repurchased, Ending balance

$ 73,317

Shareholders' Equity (Comprehensive Income) (Details) (USD $)

In Millions

3 Months Ended
Oct. 29, 2011

3 Months Ended
Oct. 30, 2010

Shareholders' Equity [Abstract]

Net income

$ 1,777

$ 1,930

Change in unrealized gains and losses on investments, net of tax benefit (expense) of $28 and ($17) for the first quarters of fiscal 2012 and 2011, respectively

(59)

42

Change in derivative instruments

(50)

49

Change in cumulative translation adjustment and other, net of tax benefit (expense) of $21 and ($10) for the first quarters of fiscal 2012 and 2011, respectively

(211)

238

Comprehensive income

1,457

2,259

Comprehensive loss (income) attributable to noncontrolling interests

7

(2)

Comprehensive income attributable to Cisco

1,464

2,257

Unrealized holding gain (loss) on securities arising during period, tax effect

28

(17)

Cumulative translation adjustments and other, tax expense

$ 21

$ (10)

Shareholders' Equity (Components Of AOCI, Net Of Tax) (Details) (USD $)

In Millions

Oct. 29, 2011

Jul. 30, 2011

Shareholders' Equity [Abstract]

Net unrealized gains on investments

$ 435

$ 487

Net unrealized (losses) gains on derivative instruments

(44)

6

Cumulative translation adjustment and other

590

801

Total

$ 981

$ 1,294

Employee Stock Benefit Plans (Narrative) (Details) (USD $)

3 Months Ended
Oct. 29,

0 Months Ended
Mar. 17, 2011

3 Months Ended
Oct. 29, 2011

3 Months Ended
Oct. 30, 2010

Oct. 28, 2011

Jul. 30, 2011

Jul. 31, 2010

2011

Minimum [Member]

2005 Plan [Member]

2011

Maximum [Member]

2005 Plan [Member]

12 Months Ended
Jul. 28, 2007

Supplemental Plan [Member]

2011

Employee Stock Purchase Rights [Member]

2005 Plan [Member]

2011

Employee Stock Incentive Plans [Member]

2005 Plan [Member]

2011

Employee Stock Incentive Plans [Member]

1996 Plan [Member]

12 Months Ended
Jul. 29, 2006

Employee Stock Incentive Plans [Member]

1996 Plan [Member]

3 Months Ended
Oct. 29, 2011

Employee Stock Purchase Plan [Member]

3 Months Ended
Oct. 30, 2010

Employee Stock Purchase Plan [Member]

3 Months Ended
Oct. 29, 2011

2005 Plan [Member]

Nov. 12, 2009

2005 Plan [Member]

Nov. 15, 2007

2005 Plan [Member]

Oct. 29, 2011

1996 Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Unrecognized compensation cost related to unvested share-based awards

$ 2,700,000,000

Expected period of recognition of compensation cost, years

2.2

Income tax benefit for employee share-based compensation expense

$ 90,000,000

$ 109,000,000

Expiration date for stock options and stock appreciation rights, max time from grant date prior to date, in years

nine

Expiration date for stock options and stock appreciation rights, max time from grant date after date, in years

10

Reduction in number of shares available for issuance after amendment

1.5

Expected dividend yield

0.00%

Reduction in number of shares available for issuance

Text Block

under the 2005 Plan, an equivalent of 1.5 shares was deducted from the available share-based award balance

Shares reserved for issuance

255,000,000

295,000,000

471,400,000

Closing stock price

$ 18.56

Shares for eligible employees, offering period

Text Block

Shares offering period

24-month

Discount rate

15.00%

Stock options and stock appreciation rights exercise price percentage of the fair market value of the underlying stock on the grant date

100.00%

Percentage in which stock options become exercisable for within one year from the date of grant

20.00%

25.00%

Percentage in which stock options become exercisable for within one year from the date of grant, minimum

20.00%

Percentage in which stock options become exercisable for within one year from the date of grant, maximum

25.00%

Shares reserved for issuance

9,000,000

Number of months in which stock options ratably exercise, minimum

36

Number of months in which stock options ratably exercise, maximum

48

Ratable vesting period, months

60

Stock options exercisable

561,000,000

575,000,000

In-the-money exercisable stock option shares

136,000,000

Stock options exercisable, weighted-average exercise price per share

$ 21.83

$ 21.37

Shares issued under employee purchase plan

0

Shares reserved in employee stock incentive plan

122,000,000

559,000,000

2,500,000,000

Termination of purchase plan

January 3, 2020

Reduction in number of shares available for issuance

the number of shares available for issuance under the 2005 Plan was reduced by 1.5 shares for each share awarded as a stock grant or a stock unit

Shares for eligible employees, offering period

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 number of shares of the Company's stock at a discount of up to 15% of the lesser of the market value at the beginning of the offering period or the end of each 6-month purchase period. The Purchase Plan is scheduled to terminate on January 3, 2020. No shares were issued under the Purchase Plan during the three months ended October 29, 2011 and October 30, 2010. As of October 29, 2011, 122 million shares were available for issuance under the Purchase Plan

Employee Stock Benefit Plans (Summary Of Share-Based Compensation Expense) (Details) (USD $)

In Millions

3 Months Ended
Oct. 29, 2011

3 Months Ended
Oct. 30, 2010

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Allocated share-based compensation expense

$ 341

$ 407

Share-Based Compensation Expense In Operating Expenses [Member] |
Research And Development [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Allocated share-based compensation expense

101

121

Share-Based Compensation Expense In Operating Expenses [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Allocated share-based compensation expense

291

349

Cost Of Sales-Product [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Allocated share-based compensation expense

13

15

Cost Of Sales-Service [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Allocated share-based compensation expense

37

43

Share-Based Compensation Expense In Cost Of Sales [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Allocated share-based compensation expense

50

58

Sales And Marketing [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Allocated share-based compensation expense

142

164

General And Administrative [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Allocated share-based compensation expense

$ 48

$ 64

Employee Stock Benefit Plans (Summary Of Share-Based Awards Available For Grant) (Details)

In Millions

3 Months Ended
Oct. 29, 2011

12 Months Ended
Jul. 30, 2011

Employee Stock Benefit Plans [Abstract]

Beginning balance

255

295

Restricted stock, stock units, and other share-based awards granted and assumed

(17)

(84)

Share-based awards canceled/forfeited/expired

23

42

Other

(6)

2

Ending balance

255

Employee Stock Benefit Plans (Summary Of Restricted Stock And Stock Unit Activity) (Details) (USD $)

In Millions, except Per Share data

3 Months Ended
Oct. 29, 2011

12 Months Ended
Jul. 30, 2011

Employee Stock Benefit Plans [Abstract]

Beginning balance, restricted stock/stock units

116

97

Granted and assumed, restricted stock/stock units

11

56

Vested, restricted stock/stock units

(25)

(27)

Canceled/forfeited, restricted stock/stock units

(8)

(10)

Ending balance, restricted stock/stock units

94

116

Beginning balance, weighted-average grant date fair value per share

$ 21.50

$ 22.35

Granted and assumed, weighted-average grant date fair value per share

$ 15.68

$ 20.62

Vested, weighted-average grant date fair value per share

$ 22.87

$ 22.54

Canceled/forfeited, weighted-average grant date fair value per share

$ 21.70

$ 22.04

Ending balance, weighted-average grant date fair value per share

$ 20.41

$ 21.50

Vested, Vest Date Fair Value in Aggregate

$ 400

$ 529

Employee Stock Benefit Plans (Summary Of Stock Option Activity) (Details) (USD $)

In Millions, except Per Share data

3 Months Ended
Oct. 29, 2011

12 Months Ended
Jul. 30, 2011

Employee Stock Benefit Plans [Abstract]

Number outstanding, beginning balance

621

732

Exercised, number outstanding

(19)

(80)

Canceled/forfeited/expired, number outstanding

(11)

(31)

Number outstanding, ending balance

591

621

Weighted-average exercise price per share, beginning balance

$ 21.79

$ 21.39

Exercised, weighted-average exercise price per share

$ 10.23

$ 16.55

Canceled/forfeited/expired, weighted-average exercise price per share

$ 22.95

$ 25.91

Weighted-average exercise price per share, ending balance

$ 22.14

$ 21.79

Employee Stock Benefit Plans (Summary Of Significant Ranges Of Outstanding And Exercisable Stock Options) (Details) (USD $)

In Millions, except Per Share data, unless otherwise specified

3 Months Ended
Oct. 29,

Oct. 29, 2011

Jul. 30, 2011

Jul. 31, 2010

2011

Range Of Exercise Price 0.01-15.00 [Member]

2011

Range Of Exercise Price 15.01-18.00 [Member]

2011

Range Of Exercise Price 18.01-20.00 [Member]

2011

Range Of Exercise Price 20.01-25.00 [Member]

2011

Range Of Exercise Price 25.01-35.00 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock options outstanding

591

621

732

36

96

166

151

142

Stock options outstanding, weighted-average remaining contractual life (in years)

3.12

1.85

2.78

1.66

3.62

4.84

Stock options outstanding, weighted-average exercise price per share

$ 22.14

$ 21.79

$ 21.39

$ 10.86

$ 17.72

$ 19.29

$ 22.75

$ 30.65

Stock options outstanding, aggregate intrinsic value

$ 356

$ 275

$ 80

$ 1

Stock options exercisable

561

575

34

96

166

146

119

Stock options exercisable, weighted-average exercise price per share

$ 21.83

$ 21.37

$ 10.98

$ 17.73

$ 19.29

$ 22.76

$ 30.63

Stock options exercisable, aggregate intrinsic value

$ 341

$ 260

$ 80

$ 1

Range of exercise price of stock options outstanding and exercisable, minimum

$ 0.01

$ 15.01

$ 18.01

$ 20.01

$ 25.01

Range of exercise price of stock options outstanding and exercisable, maximum

$ 15

$ 18

$ 20

$ 25

$ 35

Income Taxes (Details) (USD $)

3 Months Ended
Oct. 29, 2011

3 Months Ended
Oct. 30, 2010

Income Taxes [Abstract]

Income before provision for income taxes

$ 2,245,000,000

$ 2,425,000,000

Provision for income taxes

468,000,000

495,000,000

Effective tax rate

20.80%

20.40%

Unrecognized tax benefits

3,000,000,000

Unrecognized tax benefits that would impact tax rate

2,600,000,000

Unrecognized tax benefit that could be reduced in next 12 months

$ 400,000,000

Segment Information And Major Customers (Narrative) (Details) (USD $)

In Billions

Oct. 29, 2011

Jul. 30, 2011

United States [Member]

Segment Reporting Information [Line Items]

Cash and cash equivalents and investments

$ 3.8

$ 4.8

International [Member]

Segment Reporting Information [Line Items]

Cash and cash equivalents and investments

$ 40.6

$ 39.8

Segment Information And Major Customers (Reportable Segments) (Details) (USD $)

In Millions

3 Months Ended
Oct. 29, 2011

3 Months Ended
Oct. 30, 2010

Segment Reporting Information [Line Items]

Net sales

$ 11,256.0

$ 10,750.0

Gross margin

6,890

6,755

Segment total

7,022

6,914

Unallocated corporate items

(132)¹

(159)¹

Americas [Member]

Segment Reporting Information [Line Items]

Net sales

6,588.0 ²

6,316.0 ²

Gross margin

4,160 ²

4,051 ²

EMEA[Member]

Segment Reporting Information [Line Items]

Net sales

2,845.0

2,795.0

Gross margin

1,754

1,809

APJC [Member]

Segment Reporting Information [Line Items]

Net sales

1,823.0

1,639.0

Gross margin

1,108

1,054

United States [Member]

Segment Reporting Information [Line Items]

Net sales

$ 5.6

$ 5.4

[1] (2) The unallocated corporate items include the effects of amortization and impairment of acquisition-related intangible assets, share-based compensation expense, and charges related to asset impairments and restructurings.

[2] (1) Net sales in the United States were $5.6 billion and $5.4 billion for the three months ended October 29, 2011 and October 30, 2010, respectively. (2) The unallocated corporate items include the effects of amortization and impairment of acquisition-related intangible assets, share-based compensation expense, and charges related to asset impairments and restructurings.

Segment Information And Major Customers (Net Sales For Groups Of Similar Products And Services) (Details) (USD $)

In Millions

3 Months Ended
Oct. 29, 2011

3 Months Ended
Oct. 30, 2010

Segment Reporting, Revenue Reconciling Item [Line Items]

Net sales

$ 11,256.0

$ 10,750.0

Switching [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Net sales

3,675.0

3,689.0

NGN Routing [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Net sales

2,108.0

2,177.0

Collaboration [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Net sales

1,093.0

977.0

Service Provider Video [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Net sales

879.0

778.0

Wireless [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Net sales

362.0

334.0

Security [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Net sales

320.0

290.0

Data Center [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Net sales

259.0

125.0

Other Products [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Net sales

256.0

330.0

Product [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Net sales

8,952.0

8,700.0

Service [Member]

Segment Reporting, Revenue Reconciling Item [Line Items]

Net sales

$ 2,304.0

$ 2,050.0

Segment Information And Major Customers (Property And Equipment, Net) (Details) (USD $)

In Millions

Oct. 29, 2011

Jul. 30, 2011

Segment Reporting Information [Line Items]

Property and equipment, net

$ 3,753

$ 3,916

United States [Member]

Segment Reporting Information [Line Items]

Property and equipment, net

3,172

3,284

International [Member]

Segment Reporting Information [Line Items]

Property and equipment, net

$ 581

$ 632

Net Income Per Share (Calculation Of Basic And Diluted Net Income Per Share) (Details) (USD $)

In Millions, except Per Share data

3 Months Ended
Oct. 29, 2011

3 Months Ended
Oct. 30, 2010

Net Income Per Share [Abstract]

Net income

$ 1,777

$ 1,930

Weighted-average shares-basic

5,394

5,595

Effect of dilutive potential common shares

13

80

Weighted-average shares-diluted

5,407

5,675

Net income per share-basic

$ 0.33

$ 0.34

Net income per share-diluted

$ 0.33

$ 0.34

Antidilutive employee share-based awards, excluded

679

327