cisco-annual-report-2021

The following table summarizes the activities related to the restructuring and other charges, as discussed above (in millions):
FISCAL 2020 AND
PRIOR PLANS
Employee
Severance Other
FISCAL 2021 PLAN
Employee
Severance Other Total
Liability as of July 28, 2018. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 60 $ 13 $ — $ — $ 73
Charges. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 252 70 — — 322
Cash payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (289) (10) — — (299)
Non-cash items. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1) (62) — — (63)
Liability as of July 27, 2019. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 11 — — 33
Charges. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 353 128 — — 481
Cash payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (317) (10) — — (327)
Non-cash items. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (115) — — (115)
Liability as of July 25, 2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58 14 — — 72
Charges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 5 836 45 886
Cash payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (58) (6) (821) (5) (890)
Non-cash items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (3) 1 (32) (34)
Liability as of July 31, 2021 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ — $ 10 $ 16 $ 8 $ 34
7. Balance Sheet and Other Details
The following tables provide details of selected balance sheet and other items (in millions):
Cash, Cash Equivalents, and Restricted Cash
July 31, 2021 July 25, 2020
Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 9,175 $ 11,809
Restricted cash included in other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 —
Restricted cash included in other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 753 3
Total cash, cash equivalents, and restricted cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 9,942 $ 11,812
Our restricted cash balances are funds primarily related to contractual obligations with suppliers.
Inventories
July 31, 2021 July 25, 2020
Raw materials. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 801 $ 456
Work in process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54 25
Finished goods:
Deferred cost of sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97 59
Manufactured finished goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 422 542
Total finished goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 519 601
Service-related spares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 174 184
Demonstration systems . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 16
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,559 $ 1,282
Our provision for inventory was $116 million, $74 million, and $77 million in fiscal 2021, 2020, and 2019, respectively.
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