cisco-annual-report-2021

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Financial highlights for fiscal 2021All amounts on an annual basis.Revenue trend($B)Revenueby geographical segment$51.9$49.3$49.8$12.9$39.0$13.3 $13.8$36.0 $36.059%Americas26%EMEA15%APJCby product category and services*20192020 2021Product revenueServices revenue54%Infrastructureplatforms11%Applications7%Security28%ServicesOperating cash flow($B)Margins(%)$15.8$15.4$15.562.9%64.3%64.0%27.4%27.6%25.8%2019 2020 2021201920202021Gross marginOperating margin*Percentages may not equal 100% due to rounding4 Cisco 2021 Annual Report
Capital allocationDividends paid per share($)Share repurchasesand diluted share count(Millions)$1.36$1.42 $1.464184,4534,254 4,2362019 2020 2021Dividends paid per sharePrimary uses of cash in FY2115%Repayment of debt3%Capital expendituresTotal stockholder returnThis graph shows a 5-year comparisonof the cumulative total stockholderreturn on Cisco common stock withthe cumulative total returns of the S&P500 Index and the S&P InformationTechnology Index. The graph tracks theperformance of a $100 investment inCisco’s common stock and in each ofthe indexes (with the reinvestment of alldividends). Stockholder returns over theindicated period are based on historicaldata and should not be consideredindicative of future stockholder returns.31%Dividends36%Acquisitions, net59 642019 2020 2021Absolute number ofshares repurchasedDiluted share countComparison of 5-year cumulative total return*among Cisco Systems, Inc., the S&P 500 Index,and the S&P Information Technology IndexJuly2016July2017July201815%Share repurchasesJuly2019July2020Cisco Systems, Inc.S&P 500 IndexS&P Information Technology IndexJuly2021* $100 invested on 7/30/16 in stock or index, includingreinvestment of dividends. Fiscal year ending July 31, 2021.R. Scott HerrenEVP and Chief Financial Officer“We delivered a solidfiscal year with strongoperational executionand growth in ourportfolio of softwareand services. Softwaresubscriptions were79% of our softwarerevenue and we nowhave over $30 billion inremaining performanceobligations. Our resultsreflect the returns onthe investments we’remaking in innovationand a continued shiftto more software andsubscriptions, drivingmore recurring revenuedelivering growth andshareholder value.Cisco 2021 Annual Report5
Page 1 and 2: 2021ANNUAL REPORTThe Future of Work
Page 3 and 4: Introduction tosummary reportThis s
Page 5: In collaboration, we continue to in
Page 9 and 10: LeadershipCisco’s executive leade
Page 11 and 12: ExecutivecompensationOur pay practi
Page 13 and 14: The role of the Board of Directors
Page 15 and 16: Cisco’s efforts to deliver on our
Page 17 and 18: Cisco’s net zero goal will be sup
Page 19 and 20: (Mark One)orUNITED STATES SECURITIE
Page 21 and 22: This Annual Report on Form 10-K, in
Page 23 and 24: We introduced Cisco Silicon One, a
Page 25 and 26: range of devices and endpoints such
Page 27 and 28: For information regarding risks rel
Page 29 and 30: Research and DevelopmentWe regularl
Page 31 and 32: Inclusion & DiversityInclusion and
Page 33 and 34: Mr. Herren joined Cisco in December
Page 35 and 36: As a consequence, operating results
Page 37 and 38: We believe that we may be faced wit
Page 39 and 40: new competitors to enter the market
Page 41 and 42: assessments and decisions. Although
Page 43 and 44: components if a government body wer
Page 45 and 46: There can be no assurance that our
Page 47 and 48: Risks Related to Ownership of Our S
Page 49 and 50: Stock Performance GraphThe informat
Page 51 and 52: Fiscal 2021 Compared with Fiscal 20
Page 53 and 54: CRITICAL ACCOUNTING ESTIMATESThe pr
Page 55 and 56: Significant judgment is required in
Page 57 and 58:
Product Revenue by SegmentThe follo
Page 59 and 60:
Service Revenue by SegmentThe follo
Page 61 and 62:
Research and Development (“R&D”
Page 63 and 64:
Other Income (Loss), Net The compon
Page 65 and 66:
We consider free cash flow to be a
Page 67 and 68:
BorrowingsSenior Notes The followin
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commitments arising from these agre
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Foreign Currency Exchange RiskOur f
Page 73 and 74:
Report of Independent Registered Pu
Page 75 and 76:
Reports of ManagementStatement of M
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CISCO SYSTEMS, INC.Consolidated Sta
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CISCO SYSTEMS, INC.Consolidated Sta
Page 81 and 82:
1. Basis of PresentationCISCO SYSTE
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As a lessee, we determine if an arr
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We perform ongoing credit evaluatio
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(y) New Accounting Updates Recently
Page 89 and 90:
4. Acquisitions and Divestitures(a)
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July 25, 2020GrossAccumulatedAmorti
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Property and Equipment, NetJuly 31,
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We provide financing of certain equ
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The following tables present the ag
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The following tables present the br
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receivables and financed service co
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13. Derivative Instruments(a)Summar
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(d)Interest Rate RiskWe hold intere
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It is not possible to determine the
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running royalty on future sales. Ra
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being exercised or settled, then th
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(f) Employee 401(k) PlansWe sponsor
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18. Income Taxes(a) Provision for I
Page 117 and 118:
The following table presents the co
Page 119 and 120:
20. Net Income per ShareThe followi
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Item 9B.Other InformationRequired D
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INDEX TO EXHIBITSExhibitNumber Exhi
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SIGNATURESPursuant to the requireme
Page 127 and 128:
Stockholder information andforward-
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