Cisco 2014 Annual Report Download - page 102

Download and view the complete annual report

Please find page 102 of the 2014 Cisco annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 140

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140

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 balances of either unbilled or current financing receivables included in the category of 91 days plus past due for financing
receivables were $296 million and $406 million as of July 26, 2014 and July 27, 2013, respectively.
As of July 26, 2014, the Company had financing receivables of $116 million, net of unbilled or current receivables from the
same contract, that were in the category of 91 days plus past due but remained on accrual status. Such balance was $87 million
as of July 27, 2013. 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 27, 2013 ...................... $ 238 $ 86 $ 20 $ 344
Provisions ................................................... 49 1 14
Recoveries (write-offs), net ..................................... (11) 5 (3) (9)
Foreign exchange and other .................................... 2 (2) — —
Allowance for credit loss as of July 26, 2014 ...................... $ 233 $ 98 $ 18 $ 349
Financing receivables as of July 26, 2014 (1) ....................... $3,527 $1,683 $3,210 $8,420
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
Recoveries (write-offs), net ...................................... (30) (15) (1) (46)
Foreign exchange and other ..................................... — (1) — (1)
Allowance for credit loss as of July 27, 2013 ........................ $ 238 $ 86 $ 20 $ 344
Financing receivables as of July 27, 2013 (1) ........................ $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
Recoveries (write-offs), net ...................................... (2) — (1) (3)
Foreign exchange and other ..................................... (10) (3) (2) (15)
Allowance for credit loss as of July 28, 2012 ........................ $ 247 $ 122 $ 11 $ 380
Financing receivables as of July 28, 2012 (1) ........................ $3,179 $1,796 $2,651 $7,626
(1) Total financing receivables before allowance for credit loss.
94