v3.24.1.1.u2
Balance Sheet Components (Tables)
 3 Months Ended
Apr. 28, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Inventory
Certain balance sheet components are as follows:
 Apr 28, 2024Jan 28, 2024
Inventories (1):(In millions)
Raw materials$1,991 $1,719 
Work in process1,625 1,505 
Finished goods2,248 2,058 
Total inventories$5,864 $5,282 
(1)    During the first quarter of fiscal years 2025 and 2024, we recorded an inventory provision of $210 million and $105 million, respectively, in cost of revenue.
Schedule of Other Assets
 Apr 28, 2024Jan 28, 2024
Other Assets:(In millions)
Prepaid supply and capacity agreements (1)$2,232 $2,458 
Investments in non-affiliated entities1,750 1,546 
Prepaid royalties358 364 
Other228 132 
Total other assets$4,568 $4,500 
(1)    As of April 28, 2024 and January 28, 2024, there were an additional $3.3 billion and $2.5 billion of short-term prepaid supply and capacity agreements included in Prepaid expenses and other current assets, respectively.
Schedule of Accrued and Other Current Liabilities
 Apr 28, 2024Jan 28, 2024
Accrued and Other Current Liabilities:(In millions)
Taxes payable (1)$3,881 $296 
Customer program accruals2,744 2,081 
Excess inventory purchase obligations (2)1,684 1,655 
Deferred revenue (3)845 764 
Product warranty and return provisions643 415 
Accrued payroll and related expenses639 675 
Unsettled share repurchases262 187 
Operating leases246 228 
Licenses and royalties164 182 
Other150 199 
Total accrued and other current liabilities$11,258 $6,682 
(1)    We did not make any estimated federal or state tax payments in the first quarter and expect our cash taxes to substantially increase in the second quarter as we will make two federal and state estimated tax payments.

(2)    During the first quarter of fiscal years 2025 and 2024, we recorded an expense of approximately $183 million and $29 million, respectively, in cost of revenue for inventory purchase obligations in excess of our current demand projections, supplier charges, and penalties related to cancellations and underutilization.

(3)    Deferred revenue primarily includes customer advances and deferrals related to hardware support, software support, cloud services, and license and development arrangements. $274 million and $233 million of the balance in the first quarter of fiscal year 2025 and in fiscal year 2024, respectively, were related to customer advances.
Schedule of Other Long-term Liabilities
 Apr 28, 2024Jan 28, 2024
Other Long-Term Liabilities:(In millions)
Income tax payable (1)$1,553 $1,361 
Deferred revenue (2)704 573 
Deferred income tax583 462 
Licenses payable60 80 
Other66 65 
Total other long-term liabilities$2,966 $2,541 
(1)    Income tax payable is comprised of the long-term portion of the one-time transition tax payable, unrecognized tax benefits, and related interest and penalties.

(2)    Deferred revenue primarily includes deferrals related to hardware support and software support.
Schedule of Changes in Deferred Revenue
The following table shows the changes in short and long term deferred revenue during the first quarter of fiscal years 2025 and 2024:
 Apr 28, 2024Apr 30, 2023
(In millions)
Balance at beginning of period$1,337 $572 
Deferred revenue additions during the period553 287 
Revenue recognized during the period(341)(262)
Balance at end of period$1,549 $597