| Balance Sheet and Other Details |
Balance Sheet and Other Details The following tables provide details of selected balance sheet and other items (in millions, except percentages): Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | | | | | | | | | | | | | | | | | July 26, 2025 | | July 27, 2024 | | Cash and cash equivalents | | $ | 8,346 | | | $ | 7,508 | | | Restricted cash and restricted cash equivalents included in other current assets | | 564 | | | 765 | | | Restricted cash and restricted cash equivalents included in other assets | | — | | | 569 | | | Total | | $ | 8,910 | | | $ | 8,842 | |
Our restricted cash and restricted cash equivalents are funds primarily related to contractual obligations with suppliers. Inventories | | | | | | | | | | | | | | | | | July 26, 2025 | | July 27, 2024 | | Raw materials | | $ | 1,744 | | | $ | 2,039 | | | Work in process | | 261 | | | 83 | | | Finished goods | | 933 | | | 1,027 | | | Service-related spares | | 220 | | | 216 | | | Demonstration systems | | 6 | | | 8 | | | Total | | $ | 3,164 | | | $ | 3,373 | |
Property and Equipment, Net | | | | | | | | | | | | | | | | | July 26, 2025 | | July 27, 2024 | | Gross property and equipment: | | | | | | Land, buildings, and building and leasehold improvements | | $ | 4,045 | | | $ | 4,247 | | | Production, engineering, computer and other equipment and related software | | 5,178 | | | 5,160 | | | Operating lease assets | | 51 | | | 115 | | | Furniture, fixtures and other | | 316 | | | 351 | | | Total gross property and equipment | | 9,590 | | | 9,873 | | | Less: accumulated depreciation and amortization | | (7,477) | | | (7,783) | | | Total | | $ | 2,113 | | | $ | 2,090 | |
Remaining Performance Obligations (RPO) | | | | | | | | | | | | | | | | | July 26, 2025 | | July 27, 2024 | | Product | | $ | 21,572 | | | $ | 20,055 | | | Services | | 21,961 | | | 20,993 | | | Total | | $ | 43,533 | | | $ | 41,048 | | | | | | | | Short-term RPO | | $ | 21,723 | | | $ | 20,882 | | | Long-term RPO | | 21,810 | | | 20,166 | | | Total | | $ | 43,533 | | | $ | 41,048 | | | | | | | Amount to be recognized as revenue over the next 12 months | | 50 | % | | 51 | % | | | | | | | Deferred revenue | | $ | 28,779 | | | $ | 28,475 | | | Unbilled contract revenue | | 14,754 | | | 12,573 | | | Total | | $ | 43,533 | | | $ | 41,048 | |
Unbilled contract revenue represents noncancelable contracts for which we have not invoiced, have an obligation to perform, and revenue has not yet been recognized in the financial statements. Deferred Revenue | | | | | | | | | | | | | | | | | July 26, 2025 | | July 27, 2024 | | Product | | $ | 13,490 | | | $ | 13,219 | | | Services | | 15,289 | | | 15,256 | | | Total | | $ | 28,779 | | | $ | 28,475 | | | Reported as: | | | | | | Current | | $ | 16,416 | | | $ | 16,249 | | | Noncurrent | | 12,363 | | | 12,226 | | | Total | | $ | 28,779 | | | $ | 28,475 | |
Transition Tax Payable Our income tax payable associated with the one-time U.S. transition tax on accumulated earnings for foreign subsidiaries as a result of the Tax Act is as follows: | | | | | | | | | | | | | | | | | July 26, 2025 | | July 27, 2024 | | Current | | $ | 1,595 | | | $ | 1,819 | | | Noncurrent | | — | | | 2,273 | | | Total | | $ | 1,595 | | | $ | 4,092 | |
Our remaining transition tax payable as of July 26, 2025 has been reduced to reflect the transition tax benefit of the U.S. Tax Court opinion in Varian Medical Systems, Inc. v. Commissioner. See Note 18.
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