cisco-annual-report-2021

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Cisco strategyAs our customers add billions of new connections to their enterprises,and as more applications move to a multicloud environment, thenetwork becomes even more critical. Our customers are navigatingchange at an unprecedented pace. Our mission is to shape thefuture of the internet by inspiring new possibilities for them by helpingtransform their infrastructure, expand applications and analytics,address their security needs, and empower their teams.We believe that our customers arelooking for outcomes that are datadrivenand provide meaningful businessvalue through automation, security,and analytics across private, hybrid,and multicloud environments. We arefocusing on four customer priorities:Reimagine Applications, Power HybridWork, Transform Infrastructure, andSecure the Enterprise. We are alsoaccelerating our efforts to enable thedelivery of network functionality as aservice, as our customers increasinglywant to consume our technologies inflexible ways. We have made the initialstep with our new as-a-service portfolio,Cisco Plus, and our first offer, Cisco Plushybrid cloud, which combines our datacenter compute, networking, and storageportfolio. Cisco Plus includes our plansto deliver networking as a service, whichis designed to unify networking, security,and observability across access, widearea network (WAN), and cloud domains.Our strategy is to help our customersconnect, secure, and automate in orderto accelerate their digital agility in acloud-first world. To execute on ourstrategy and address our customerpriorities, we are focusing on thefollowing six strategic pillars: Secure,Agile Networks; Hybrid Work; OptimizedApplication Experiences; End-to-EndSecurity; Internet for the Future; andCapabilities at the Edge.Secure, AgileNetworksBuild networking solutionswith built-in simplicity,security, agility, andautomation that can beconsumed as-a-service.Hybrid WorkDeliver highly secure access,a safer workplace, andcollaboration experiences forthe hybrid workforce.Optimized ApplicationExperiencesEnable greater speed, agility,and scale of cloud-nativeapplications.End-to-End SecurityBuild simple, integrated, andhigh-efficacy end-to-endsecurity solutions, deliveredon-premises or in the cloud.Internet for the FutureTransform connectivity byefficiently meeting the evergrowingdemand for low latencyand higher speeds.Capabilities at the EdgeDevelop new capabilities for adistributed world while enhancingthe developer experienceand extending enterprise andcarrier networks.6 Cisco 2021 Annual Report
LeadershipCisco’s executive leadership teamChuck RobbinsChair and ChiefExecutive Officer54%diverse basedon gender orethnicityDiverseleadershipAt Cisco, diversity, inclusion,and collaboration arefundamental to who we are,how we create the best teams,and how we drive success. Adiverse workplace creates avibrant culture where everyoneis welcomed, respected,valued, and heard.Liz CentoniEVP, Chief StrategyOfficer, andGeneral Manager,ApplicationsEyal DaganEVP, CommonHardware GroupJonathan DavidsonEVP and GeneralManager, CiscoMass-ScaleInfrastructureGerri ElliottEVP and ChiefCustomer andPartner OfficerCisco has signed theCEO Action for Diversityand Inclusion Pledge.We are delivering on thispledge by acceleratingfull-spectrum diversity—including gender, age, race,ethnicity, orientation, ability,nationality, religion, veteranstatus, background, culture,experience, strengths, andperspectives. It starts atthe top in that 46% of ourexecutive leadership team(ELT) are women and 54%are diverse in terms of genderor ethnicity, making Cisco anindustry leader in ELT diversity.R. Scott HerrenEVP and ChiefFinancial OfficerFrancine KatsoudasEVP and ChiefPeople, Policy &Purpose OfficerMaria MartinezEVP and ChiefOperating OfficerTodd NightingaleEVP and GeneralManager, EnterpriseNetworking & CloudLeadership@CiscoLearn more about Cisco’sexecutive leadership team athttps://newsroom.cisco.com/ exec-bios.Jeetu PatelEVP and GeneralManager, Security &CollaborationMark PattersonSVP, Chief of Staffto the Chairand CEOMaria PoveromoSVP and ChiefCommunicationsOfficerDev StahlkopfEVP and ChiefLegal OfficerCisco 2021 Annual Report7
Page 1 and 2: 2021ANNUAL REPORTThe Future of Work
Page 3 and 4: Introduction tosummary reportThis s
Page 5 and 6: In collaboration, we continue to in
Page 7: Capital allocationDividends paid pe
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
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Service Revenue by SegmentThe follo
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Research and Development (“R&D”
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Other Income (Loss), Net The compon
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We consider free cash flow to be a
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BorrowingsSenior Notes The followin
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commitments arising from these agre
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Foreign Currency Exchange RiskOur f
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Report of Independent Registered Pu
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Reports of ManagementStatement of M
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CISCO SYSTEMS, INC.Consolidated Sta
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CISCO SYSTEMS, INC.Consolidated Sta
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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
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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
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The following table presents the co
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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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