beatandraise : Equity Research with AI and ChatGPT on SEC Edgar

Consolidated Statements Of Operations (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
	Oct. 27, 2012	Oct. 29, 2011
NET SALES:
Product	$ 9,297	$ 8,952
Service	2,579	2,304
Total net sales	11,876	11,256
COST OF SALES:
Product	3,748	3,563
Service	889	803
Total cost of sales	4,637	4,366
GROSS MARGIN	7,239	6,890
OPERATING EXPENSES:
Research and development	1,431	1,375
Sales and marketing	2,416	2,452
General and administrative	560	552
Amortization of purchased intangible assets	122	99
Restructuring and other charges	59	202
Total operating expenses	4,588	4,680
OPERATING INCOME	2,651	2,210
Interest income	161	164
Interest expense	(148)	(148)
Other income (loss), net	(33)	19
Interest and other income, net	(20)	35
INCOME BEFORE PROVISION FOR INCOME TAXES	2,631	2,245
Provision for income taxes	539	468
NET INCOME	$ 2,092	$ 1,777
Net income per share-basic (in dollars per share)	$ 0.39	$ 0.33
Net income per share-diluted (in dollars per share)	$ 0.39	$ 0.33
Shares used in per-share calculation-basic (in shares)	5,301	5,394
Shares used in per-share calculation-diluted (in shares)	5,334	5,407
Cash dividends declared per common share (in dollars per share)	$ 0.14	$ 0.06

Consolidated Statements Of Cash Flows (USD $) In Millions, unless otherwise specified	3 Months Ended
	Oct. 27, 2012	Oct. 29, 2011
Cash flows from operating activities:
Net income	$ 2,092	$ 1,777
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization, and other	612	621
Share-based compensation expense	306	341
Provision for doubtful accounts	29	(13)
Deferred income taxes	135	109
Excess tax benefits from share-based compensation	(15)	(21)
Net losses (gains) on investments	15	(13)
Change in operating assets and liabilities, net of effects of acquisitions and divestitures:
Accounts receivable	615	399
Inventories	42	(168)
Financing receivables	(132)	(9)
Other assets	99	(374)
Accounts payable	(19)	36
Income taxes, net	(372)	(38)
Accrued compensation	(359)	(548)
Deferred revenue	(295)	232
Other liabilities	(288)	2
Net cash provided by operating activities	2,465	2,333
Cash flows from investing activities:
Purchases of investments	(8,213)	(11,770)
Proceeds from sales of investments	2,447	7,721
Proceeds from maturities of investments	4,388	1,179
Acquisition of property and equipment	(265)	(265)
Acquisition of businesses, net of cash and cash equivalents acquired	(4,912)	(38)
Purchases of investments in privately held companies	(9)	(153)
Return of Investments In Privately Held Companies	12	58
Other	22	77
Net cash used in investing activities	(6,530)	(3,191)
Cash flows from financing activities:
Issuances of common stock	117	203
Repurchases of stock- repurchase program	(183)	(1,744)
Stock Repurchased for tax withholdings on vesting of restricted stock units, value	(203)	(137)
Short-term borrowings, maturities less than 90 days, net	23	0
Excess Tax Benefit from Share-based Compensation, Financing Activities	15	21
Dividends paid	(744)	(322)
Other	14	(78)
Net cash used in financing activities	(961)	(2,057)
Net decrease in cash and cash equivalents	(5,026)	(2,915)
Cash and cash equivalents, beginning of fiscal year	9,799	7,662
Cash and cash equivalents, end of fiscal year	4,773	4,747
Cash paid for:
Interest	221	220
Income taxes	$ 776	$ 398

Consolidated Balance Sheets (USD $) In Millions, unless otherwise specified	Oct. 27, 2012	Jul. 28, 2012
Current assets:
Cash and cash equivalents	$ 4,773	$ 9,799
Investments	40,227	38,917
Accounts receivable, net of allowance for doubtful accounts of $224 at October 27, 2012 and $207 at July 28, 2012	3,942	4,369
Inventories	1,709	1,663
Financing receivables, net	3,726	3,661
Deferred tax assets	2,253	2,294
Other current assets	1,277	1,230
Total current assets	57,907	61,933
Property and equipment, net	3,409	3,402
Financing receivables, net	3,695	3,585
Goodwill	20,443	16,998
Purchased intangible assets, net	3,449	1,959
Other assets	3,740	3,882
TOTAL ASSETS	92,643	91,759
Current liabilities:
Short-term debt	55	31
Accounts payable	889	859
Income taxes payable	200	276
Accrued compensation	2,710	2,928
Deferred revenue	8,721	8,852
Other current liabilities	4,539	4,785
Total current liabilities	17,114	17,731
Long-term debt	16,272	16,297
Income taxes payable	1,577	1,844
Deferred revenue	3,902	4,028
Other long-term liabilities	1,077	558
Total liabilities	39,942	40,458
Commitments and contingencies (Note 12)
Cisco shareholders' equity:
Preferred stock, no par value: 5 shares authorized; none issued and outstanding	0	0
Common stock and additional paid-in capital, $0.001 par value: 20,000 shares authorized; 5,311 and 5,298 shares issued and outstanding at October 27, 2012 and July 28, 2012, respectively	39,290	39,271
Retained earnings	12,563	11,354
Accumulated other comprehensive income	833	661
Total Cisco shareholders' equity	52,686	51,286
Noncontrolling interests	15	15
Total equity	52,701	51,301
TOTAL LIABILITIES AND EQUITY	$ 92,643	$ 91,759