Cisco 2013 Annual Report Download - page 103

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DAYS PAST DUE (INCLUDES
BILLED AND UNBILLED)
July 28, 2012 31-60 61-90 91+
Total
Past Due Current
Gross
Receivables,
Net of
Unearned
Income
Nonaccrual
Financing
Receivables
Impaired
Financing
Receivables
Lease receivables ........................ $151 $ 69 $173 $393 $2,786 $3,179 $23 $14
Loan receivables ......................... 10 8 11 29 1,767 1,796 4 4
Financed service contracts and other ......... 89 68 392 549 2,102 2,651 18 10
Total .................................. $250 $145 $576 $971 $6,655 $7,626 $45 $28
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 exclude pending adjustments on billed tax assessment in certain international markets. The
balances of either unbilled or current financing receivables included in the category of 91 days plus past due for financing
receivables were $406 million and $455 million as of July 27, 2013 and July 28, 2012, respectively.
As of July 27, 2013, the Company had financing receivables of $87 million, net of unbilled or current receivables from the
same contract, that were in the category for 91 days plus past due but remained on accrual status. Such balance was $109
million as of July 28, 2012. A financing receivable may be placed on nonaccrual 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
Lease
Receivables
Loan
Receivables
Financed Service
Contracts and Other Total
Allowance for credit loss as of July 28, 2012 ...................... $ 247 $ 122 $ 11 $ 380
Provisions ................................................... 21 (20) 10 11
Write-offs, net of recoveries .................................... (30) (15) (1) (46)
Foreign exchange and other .................................... — (1) — (1)
Allowance for credit loss as of July 27, 2013 ...................... $ 238 $ 86 $ 20 $ 344
Gross receivables as of July 27, 2013, net of unearned income ........ $3,507 $1,649 $3,136 $8,292
CREDIT LOSS ALLOWANCES
Lease
Receivables
Loan
Receivables
Financed Service
Contracts and Other Total
Allowance for credit loss as of July 30, 2011 ........................ $ 237 $ 103 $ 27 $ 367
Provisions ................................................... 22 22 (13) 31
Write-offs, net of recoveries ..................................... (2) — (1) (3)
Foreign exchange and other ..................................... (10) (3) (2) (15)
Allowance for credit loss as of July 28, 2012 ........................ $ 247 $ 122 $ 11 $ 380
Gross receivables as of July 28, 2012, net of unearned income .......... $3,179 $1,796 $2,651 $7,626
95