cisco-annual-report-2021

The following tables present the aging analysis of gross receivables as of July 31, 2021 and July 25, 2020 (in millions):
DAYS PAST DUE
(INCLUDES BILLED AND UNBILLED)
July 31, 2021 31 - 60 61 - 90 91+
Total
Past Due Current Total
120+ Still
Accruing
Nonaccrual
Financing
Receivables
Impaired
Financing
Receivables
Lease receivables . . . . . . . . $ 21 $ 17 $ 29 $ 67 $ 1,565 $ 1,632 $ 1 $ 33 $ 26
Loan receivables. . . . . . . . . 71 17 35 123 5,080 5,203 4 33 33
Financed service contracts 18 13 18 49 2,404 2,453 3 3 3
Total . . . . . . . . . . . . . . . . $ 110 $ 47 $ 82 $ 239 $ 9,049 $ 9,288 $ 8 $ 69 $ 62
DAYS PAST DUE
(INCLUDES BILLED AND UNBILLED)
July 25, 2020 31 - 60 61 - 90 91+
Total
Past Due Current Total
Nonaccrual
Financing
Receivables
Impaired
Financing
Receivables
Lease receivables. . . . . . . . . . . . . . . . $ 29 $ 47 $ 48 $ 124 $ 1,889 $ 2,013 $ 43 $ 43
Loan receivables . . . . . . . . . . . . . . . . 129 78 78 285 5,652 5,937 65 65
Financed service contracts . . . . . . . . 69 75 124 268 2,562 2,830 4 4
Total . . . . . . . . . . . . . . . . . . . . . . . $ 227 $ 200 $ 250 $ 677 $ 10,103 $ 10,780 $ 112 $ 112
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 is 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.
As of July 25, 2020, we had financing receivables of $67 million, net of unbilled or current receivables, that were greater than
120 days plus past due but remained on accrual status as they are well secured and in the process of collection.
(c) Allowance for Credit Loss Rollforward
The allowances for credit loss and the related financing receivables are summarized as follows (in millions):
Lease
Receivables
CREDIT LOSS ALLOWANCES
Loan Financed Service
Receivables Contracts
Allowance for credit loss as of July 25, 2020 . . . . . . . . . . . . . . . . . . . . . $ 48 $ 81 $ 9 $ 138
Provisions (benefits) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (10) (12) (5) (27)
Recoveries (write-offs), net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1) (1) — (2)
Foreign exchange and other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 18 (1) 18
Allowance for credit loss as of July 31, 2021 . . . . . . . . . . . . . . . . . . . . . $ 38 $ 86 $ 3 $ 127
Total
Lease
Receivables
CREDIT LOSS ALLOWANCES
Loan
Receivables
Financed Service
Contracts
Allowance for credit loss as of July 27, 2019 . . . . . . . . . . . . . . . . . . . . . . . $ 46 $ 71 $ 9 $ 126
Provisions (benefits) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 32 1 38
Recoveries (write-offs), net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (3) (19) — (22)
Foreign exchange and other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (3) (1) (4)
Allowance for credit loss as of July 25, 2020 . . . . . . . . . . . . . . . . . . . . . . . $ 48 $ 81 $ 9 $ 138
Total
77