v3.25.2
Balance Sheet Components (Tables)
 6 Months Ended
Jul. 27, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Inventory
Certain balance sheet components are as follows:
 Jul 27, 2025Jan 26, 2025
Inventories:(In millions)
Raw materials$1,843 $3,408 
Work in process4,411 3,399 
Finished goods8,708 3,273 
Total inventories (1)$14,962 $10,080 
(1)    We recorded an inventory provision of $886 million and $345 million for the second quarter of fiscal years 2026 and 2025, respectively, and $3.2 billion and $555 million for the first half of fiscal years 2026 and 2025, respectively, in cost of revenue.
Schedule of Other Assets
 Jul 27, 2025Jan 26, 2025
Other Assets (Long Term):(In millions)
Non-marketable equity securities$3,799 $3,387 
Prepaid supply and capacity agreements (1)1,776 1,747 
Income tax receivable1,042 750 
Prepaid royalties327 340 
Other272 201 
Total other assets$7,216 $6,425 
(1)    $1.8 billion and $3.3 billion were included in short-term Prepaid expenses and other current assets as of July 27, 2025 and January 26, 2025, respectively.
Schedule of Accrued and Other Current Liabilities
 Jul 27, 2025Jan 26, 2025
Accrued and Other Current Liabilities:(In millions)
Customer program accruals$4,705 $4,880 
Excess inventory purchase obligations (1)3,154 2,095 
Product warranty and return provisions2,245 1,373 
Taxes payable
1,910 881 
Accrued payroll and related expenses1,227 848 
Deferred revenue (2)980 837 
Operating leases301 288 
Licenses and royalties284 175 
Unsettled share repurchases185 132 
Other202 228 
Total accrued and other current liabilities$15,193 $11,737 
(1)    We recorded $137 million and $563 million for the second quarter of fiscal years 2026 and 2025, respectively, and $3.1 billion and $746 million for the first half of fiscal years 2026 and 2025, respectively, in cost of revenue
(2)    Includes customer advances and unearned revenue related to hardware support, software support, cloud services, and license and development arrangements. The balance as of July 27, 2025 and January 26, 2025 included $80 million and $81 million of customer advances, respectively.
Schedule of Other Long-term Liabilities
 Jul 27, 2025Jan 26, 2025
Other Long-Term Liabilities:(In millions)
Income tax payable (1)$3,081 $2,188 
Deferred income tax1,351 886 
Deferred revenue (2)1,055 976 
Licenses payable325 116 
Other243 79 
Total other long-term liabilities$6,055 $4,245 
(1)    Primarily comprised of unrecognized tax benefits and related interest and penalties.

(2)    Includes unearned revenue related to hardware support, software support, and cloud services.
Schedule of Changes in Deferred Revenue
The following table shows the changes in short- and long-term deferred revenue during the first half of fiscal years 2026 and 2025:
Six Months Ended
 Jul 27, 2025Jul 28, 2024
(In millions)
Balance at beginning of period$1,813 $1,337 
Deferred revenue additions (1)8,275 1,478 
Revenue recognized (2)(8,053)(1,094)
Balance at end of period$2,035 $1,721 
(1)    Includes $7.5 billion and $770 million of customer advances for the first half of fiscal years 2026 and 2025, respectively.

(2)    Includes $7.5 billion and $664 million related to customer advances for the first half of fiscal years 2026 and 2025, respectively.