2018 Q3 Form 10-K Financial Statement

#000085887718000011 Filed on September 06, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2018 Q2 2018 Q1
Revenue $12.84B $12.46B $11.89B
YoY Change 5.86% 4.38% 2.65%
Cost Of Revenue $4.922B $4.704B $4.389B
YoY Change 7.3% 6.38% 1.97%
Gross Profit $7.922B $7.759B $7.498B
YoY Change 4.98% 3.21% 3.05%
Gross Profit Margin 61.68% 62.26% 63.08%
Selling, General & Admin $2.875B $2.886B $2.718B
YoY Change 2.57% 6.38% 1.49%
% of Gross Profit 36.29% 37.2% 36.25%
Research & Development $1.626B $1.590B $1.549B
YoY Change 8.47% 5.51% 2.72%
% of Gross Profit 20.53% 20.49% 20.66%
Depreciation & Amortization $516.0M $564.0M $546.0M
YoY Change -10.73% 0.71% -0.55%
% of Gross Profit 6.51% 7.27% 7.28%
Operating Expenses $4.534B $4.625B $4.425B
YoY Change 3.99% 6.35% 0.96%
Operating Profit $3.346B $3.134B $3.073B
YoY Change 10.28% -1.1% 6.22%
Interest Expense $238.0M $237.0M $247.0M
YoY Change 22.05% 8.22% 11.26%
% of Operating Profit 7.11% 7.56% 8.04%
Other Income/Expense, Net $8.000M $119.0M $159.0M
YoY Change -116.33% 440.91% 127.14%
Pretax Income $3.592B $3.253B $3.232B
YoY Change 12.96% 1.94% 9.08%
Income Tax $489.0M $562.0M $12.01B
% Of Pretax Income 13.61% 17.28% 371.6%
Net Earnings $3.803B $2.691B -$8.778B
YoY Change 56.89% 7.0% -473.85%
Net Earnings / Revenue 29.61% 21.59% -73.85%
Basic Earnings Per Share $0.81 $0.56 -$1.78
Diluted Earnings Per Share $0.81 $0.56 -$1.78
COMMON SHARES
Basic Shares Outstanding 4.571B shares 4.791B shares 4.924B shares
Diluted Shares Outstanding 4.844B shares 4.924B shares

Balance Sheet

Concept 2018 Q3 2018 Q2 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $46.55B $54.43B $73.68B
YoY Change -33.97% -19.92% 2.56%
Cash & Equivalents $8.934B $6.719B $17.62B
Short-Term Investments $37.61B $47.71B $56.06B
Other Short-Term Assets $3.286B $1.668B $1.583B
YoY Change 106.28% 23.74% 19.11%
Inventory $1.544B $1.900B $1.896B
Prepaid Expenses
Receivables $5.450B $4.274B $3.963B
Other Receivables $4.949B $4.868B $4.925B
Total Short-Term Assets $61.84B $67.14B $86.05B
YoY Change -26.12% -16.03% 3.19%
LONG-TERM ASSETS
Property, Plant & Equipment $3.006B $3.082B $3.113B
YoY Change -9.51% -9.22% -9.03%
Goodwill $31.71B $31.65B $30.39B
YoY Change 6.52% 7.24% 13.31%
Intangibles $2.552B $2.681B $2.474B
YoY Change 0.51% -0.85% 16.86%
Long-Term Investments $118.0M $118.0M $121.0M
YoY Change -4.84% -9.23% -31.25%
Other Assets $1.954B $1.491B $1.472B
YoY Change 29.32% 2.54% -4.29%
Total Long-Term Assets $48.04B $46.87B $45.46B
YoY Change 4.16% 1.91% 6.08%
TOTAL ASSETS
Total Short-Term Assets $61.84B $67.14B $86.05B
Total Long-Term Assets $48.04B $46.87B $45.46B
Total Assets $109.9B $114.0B $131.5B
YoY Change -15.36% -9.48% 4.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.904B $1.552B $1.060B
YoY Change 37.47% 27.32% 10.76%
Accrued Expenses $2.986B $2.966B $2.736B
YoY Change 3.14% 4.99% 8.49%
Deferred Revenue $9.788B
YoY Change
Short-Term Debt $0.00 $0.00 $8.992B
YoY Change -100.0% -100.0% 2897.33%
Long-Term Debt Due $5.238B $7.736B $4.749B
YoY Change 10.34% 244.13% 14.41%
Total Short-Term Liabilities $27.04B $28.64B $35.36B
YoY Change -1.99% 26.08% 55.73%
LONG-TERM LIABILITIES
Long-Term Debt $20.33B $20.34B $25.63B
YoY Change -20.97% -27.94% -15.9%
Other Long-Term Liabilities $1.532B $1.641B $1.668B
YoY Change 5.66% 10.73% 20.61%
Total Long-Term Liabilities $21.86B $21.98B $27.29B
YoY Change -19.55% -26.01% -14.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $27.04B $28.64B $35.36B
Total Long-Term Liabilities $21.86B $21.98B $27.29B
Total Liabilities $65.58B $67.35B $79.53B
YoY Change 2.98% 11.19% 27.39%
SHAREHOLDERS EQUITY
Retained Earnings $5.130B $3.709B $7.364B
YoY Change -75.38% -82.1% -63.23%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $43.20B $46.66B $51.98B
YoY Change
Total Liabilities & Shareholders Equity $109.9B $114.0B $131.5B
YoY Change -15.36% -9.48% 4.17%

Cashflow Statement

Concept 2018 Q3 2018 Q2 2018 Q1
OPERATING ACTIVITIES
Net Income $3.803B $2.691B -$8.778B
YoY Change 56.89% 7.0% -473.85%
Depreciation, Depletion And Amortization $516.0M $564.0M $546.0M
YoY Change -10.73% 0.71% -0.55%
Cash From Operating Activities $4.100B $2.416B $4.070B
YoY Change 2.47% -28.37% 7.9%
INVESTING ACTIVITIES
Capital Expenditures -$214.0M -$241.0M -$211.0M
YoY Change 2.88% 4.78% -15.94%
Acquisitions
YoY Change
Other Investing Activities $8.290B $5.998B $4.201B
YoY Change 863.95% -505.27% 527.95%
Cash From Investing Activities $8.076B $5.757B $3.990B
YoY Change 1138.65% -436.67% 854.55%
FINANCING ACTIVITIES
Cash Dividend Paid $1.600B $1.400B
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -9.954B -19.08B -1.479B
YoY Change 801.63% 329.27% -21.12%
NET CHANGE
Cash From Operating Activities 4.100B 2.416B 4.070B
Cash From Investing Activities 8.076B 5.757B 3.990B
Cash From Financing Activities -9.954B -19.08B -1.479B
Net Change In Cash 2.222B -10.91B 6.581B
YoY Change -37.39% 292.09% 184.28%
FREE CASH FLOW
Cash From Operating Activities $4.100B $2.416B $4.070B
Capital Expenditures -$214.0M -$241.0M -$211.0M
Free Cash Flow $4.314B $2.657B $4.281B
YoY Change 2.49% -26.26% 6.41%

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4640000000 USD
CY2017Q3 us-gaap Purchase Obligation Due In Fourth And Fifth Year
PurchaseObligationDueInFourthAndFifthYear
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CY2018Q3 us-gaap Purchase Obligation Due In Fourth And Fifth Year
PurchaseObligationDueInFourthAndFifthYear
360000000 USD
CY2017Q3 us-gaap Purchase Obligation Due In Second And Third Year
PurchaseObligationDueInSecondAndThirdYear
20000000 USD
CY2018Q3 us-gaap Purchase Obligation Due In Second And Third Year
PurchaseObligationDueInSecondAndThirdYear
710000000 USD
CY2017Q3 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
4620000000 USD
CY2018Q3 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
5407000000 USD
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-15000000 USD
CY2017 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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-182000000 USD
CY2018 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
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CY2016 us-gaap Repayments Of Long Term Debt
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4151000000 USD
CY2018 us-gaap Repayments Of Long Term Debt
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CY2016 us-gaap Research And Development Expense
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ResearchAndDevelopmentExpense
6059000000 USD
CY2018 us-gaap Research And Development Expense
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CY2016 us-gaap Restructuring Charges
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CY2017 us-gaap Restructuring Charges
RestructuringCharges
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CY2018 us-gaap Restructuring Charges
RestructuringCharges
358000000 USD
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CY2016Q3 us-gaap Restructuring Reserve
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CY2017Q3 us-gaap Restructuring Reserve
RestructuringReserve
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CY2018Q3 us-gaap Restructuring Reserve
RestructuringReserve
73000000 USD
CY2016 us-gaap Restructuring Reserve Settled Without Cash2
RestructuringReserveSettledWithoutCash2
33000000 USD
CY2017 us-gaap Restructuring Reserve Settled Without Cash2
RestructuringReserveSettledWithoutCash2
78000000 USD
CY2018 us-gaap Restructuring Reserve Settled Without Cash2
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30000000 USD
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
20838000000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1233000000 USD
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49247000000 USD
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12352000000 USD
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11580000000 USD
CY2017Q2 us-gaap Revenues
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11940000000 USD
CY2017Q3 us-gaap Revenues
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CY2017 us-gaap Revenues
Revenues
48005000000 USD
CY2017Q4 us-gaap Revenues
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CY2018 us-gaap Revenues
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CY2018 us-gaap Selling And Marketing Expense
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CY2018 us-gaap Share Based Compensation
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1576000000 USD
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ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
276000000 shares
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
242000000 shares
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
272000000 shares
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
245000000 shares
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
6000000 shares
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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5.61
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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266000000 USD
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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283000000 USD
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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257000000 USD
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
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30.01
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
31.83
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
8.75
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
16000000 shares
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
55000000 shares
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1000000 shares
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
103000000 shares
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
73000000 shares
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
12000000 shares
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6000000 shares
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
28.68
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
26.78
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.15
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.18
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
19.22
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
12.11
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
5.77
CY2016 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
21000000 shares
CY2017 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
20000000 shares
CY2018 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
20000000 shares
CY2018Q3 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
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300000000 USD
CY2016 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-8000000 USD
CY2017 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-21000000 USD
CY2018 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-38000000 USD
CY2016 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
91000000 USD
CY2017 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
142000000 USD
CY2018 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
108000000 USD
CY2016 us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
30000000 shares
CY2017 us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
78000000 shares
CY2018 us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
18000000 shares
CY2016 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
32000000 shares
CY2017 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
14000000 shares
CY2018 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
8000000 shares
CY2016 us-gaap Stock Issued During Period Value Acquisitions
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146000000 USD
CY2017 us-gaap Stock Issued During Period Value Acquisitions
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168000000 USD
CY2018 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
21000000 USD
CY2016 us-gaap Stock Issued During Period Value New Issues
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1127000000 USD
CY2017 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
708000000 USD
CY2018 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
623000000 USD
CY2018Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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19000000000 USD
CY2016 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
148000000 shares
CY2017 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
118000000 shares
CY2018 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
432000000 shares
CY2016 us-gaap Stock Repurchased And Retired During Period Value
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3918000000 USD
CY2017 us-gaap Stock Repurchased And Retired During Period Value
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3706000000 USD
CY2018 us-gaap Stock Repurchased And Retired During Period Value
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17661000000 USD
CY2016 us-gaap Stock Repurchased During Period Value
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3918000000 USD
CY2017 us-gaap Stock Repurchased During Period Value
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3706000000 USD
CY2018 us-gaap Stock Repurchased During Period Value
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17661000000 USD
CY2017Q3 us-gaap Stockholders Equity
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66137000000 USD
CY2018Q3 us-gaap Stockholders Equity
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43204000000 USD
CY2015Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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59707000000 USD
CY2016Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
63585000000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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66137000000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
43204000000 USD
CY2018Q3 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
77000000 USD
CY2017Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
76000000000 USD
CY2015Q3 us-gaap Unrecognized Tax Benefits
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2029000000 USD
CY2016Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1627000000 USD
CY2017Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1973000000 USD
CY2018Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2000000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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457000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
78000000 USD
CY2018 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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129000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
241000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
43000000 USD
CY2018 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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124000000 USD
CY2016Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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154000000 USD
CY2017Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
186000000 USD
CY2018Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
180000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesExpense
40000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
255000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
336000000 USD
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
251000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
116000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
180000000 USD
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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84000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
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55000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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75000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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49000000 USD
CY2018 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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55000000 USD
CY2018Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
1700000000 USD
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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5088000000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5049000000 shares
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4881000000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5053000000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5010000000 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4837000000 shares
CY2018 us-gaap Derivatives Methods Of Accounting Hedging Derivatives
DerivativesMethodsOfAccountingHedgingDerivatives
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We conduct business globally in numerous currencies. Therefore, we are exposed to adverse movements in foreign currency exchange rates. To limit the exposure related to foreign currency changes, we enter into foreign currency contracts. We do not enter into such contracts for speculative purposes.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We may hedge forecasted foreign currency transactions related to certain revenues, operating expenses and service cost of sales with currency options and forward contracts. These currency options and forward contracts, designated as cash flow hedges, generally have maturities of less than </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">24 months</font><font style="font-family:inherit;font-size:10pt;">. We assess effectiveness based on changes in total fair value of the derivatives. The effective portion of the derivative instrument&#8217;s gain or loss is initially reported as a component of AOCI and subsequently reclassified into earnings when the hedged exposure affects earnings. The ineffective portion, if any, of the gain or loss is reported in earnings immediately. During the fiscal years presented, we did not discontinue any cash flow hedges for which it was probable that a forecasted transaction would not occur.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We enter into foreign exchange forward and option contracts to reduce the short-term effects of foreign currency fluctuations on assets and liabilities such as foreign currency receivables, including long-term customer financings, investments, and payables. These derivatives are not designated as hedging instruments. Gains and losses on the contracts are included in other income (loss), net, and substantially offset foreign exchange gains and losses from the remeasurement of intercompany balances or other current assets, investments, or liabilities denominated in currencies other than the functional currency of the reporting entity.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We&#160;hedge certain net investments in our foreign operations with forward contracts to reduce the effects of foreign currency fluctuations on our net investment in those foreign subsidiaries. These derivative instruments generally have maturities of up to </font><font style="font-family:inherit;font-size:10pt;">six months</font><font style="font-family:inherit;font-size:10pt;">.</font></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(d)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Interest Rate Risk</font></div></td></tr></table><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Interest Rate Derivatives, Investments</font><font style="font-family:inherit;font-size:10pt;"> &#160;&#160;Our primary objective for holding fixed income securities is to achieve an appropriate investment return consistent with preserving principal and managing risk. To realize these objectives, we may utilize interest rate swaps or other derivatives designated as fair value or cash flow hedges. As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">July&#160;28, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">July&#160;29, 2017</font><font style="font-family:inherit;font-size:10pt;">, we did not have any outstanding interest rate derivatives related to our fixed income securities.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Interest Rate Derivatives Designated as Fair Value Hedges, Long-Term Debt</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">In fiscal 2018, we did not enter into any interest rate swaps. In prior fiscal years, we entered into interest rate swaps designated as fair value hedges related to fixed-rate senior notes that are due in fiscal 2019</font><font style="font-family:inherit;font-size:10pt;color:#ff0000;"> </font><font style="font-family:inherit;font-size:10pt;">through 2025. Under these interest rate swaps, we receive fixed-rate interest payments and make interest payments based on LIBOR plus a fixed number of basis points.</font><font style="font-family:inherit;font-size:10pt;"> The effect of such swaps is to convert the fixed interest rates of the senior fixed-rate notes to floating interest rates based on LIBOR. The gains and losses related to changes in the fair value of the interest rate swaps are included in interest expense and substantially offset changes in the fair value of the hedged portion of the underlying debt that are attributable to the changes in market interest rates. The fair value of the interest rate swaps were reflected in other assets and other current and long-term liabilities. </font></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(e)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Equity Price Risk </font></div></td></tr></table><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We may hold equity securities for strategic purposes or to diversify our overall investment portfolio. The publicly traded equity securities in our portfolio are subject to price risk. To manage our exposure to changes in the fair value of certain equity securities, we have periodically entered into equity derivatives that are designated as fair value hedges. The changes in the value of the hedging instruments are included in other income (loss), net, and offset the change in the fair value of the underlying hedged investment.</font></div></div>
CY2018 us-gaap Derivatives Methods Of Accounting Nonhedging Derivatives
DerivativesMethodsOfAccountingNonhedgingDerivatives
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> In addition, we periodically enter into equity derivatives that are not designated as accounting hedges. The changes in the fair value of these derivatives are also included in other income (loss), net. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We are also exposed to variability in compensation charges related to certain&#160;deferred compensation&#160;obligations to employees.&#160;Although not designated as accounting hedges, we utilize derivatives such as total return swaps to economically hedge this exposure. </font></div></div>
CY2018 us-gaap Fiscal Period
FiscalPeriod
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The fiscal year for Cisco Systems, Inc. (the &#8220;Company,&#8221; &#8220;Cisco,&#8221; &#8220;we,&#8221; &#8220;us,&#8221; or &#8220;our&#8221;) is the 52 or 53 weeks ending on the last Saturday in July. </font><font style="font-family:inherit;font-size:10pt;">Fiscal 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">fiscal 2017</font><font style="font-family:inherit;font-size:10pt;"> were each 52-week fiscal years, while </font><font style="font-family:inherit;font-size:10pt;">fiscal 2016</font><font style="font-family:inherit;font-size:10pt;"> was a 53-week fiscal year.</font></div></div>
CY2018 us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In the normal course of business, we indemnify other parties, including customers, lessors, and parties to other transactions with us, with respect to certain matters. We have agreed to hold such parties harmless against losses arising from a breach of representations or covenants or out of intellectual property infringement or other claims made against certain parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. </font></div></div>
CY2018 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain reclassifications have been made to the amounts for prior years in order to conform to the current year&#8217;s presentation. We have evaluated subsequent events through the date that the financial statements were issued.</font></div></div>
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">(v) Use of Estimates</font><font style="font-family:inherit;font-size:10pt;"> &#160;&#160;The preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the United States requires management to make estimates and judgments that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Estimates are used for the following, among others:</font></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">&#9642;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Revenue recognition</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">&#9642;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Allowances for accounts receivable, sales returns, and financing receivables </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">&#9642;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Inventory valuation and liability for purchase commitments with contract manufacturers and suppliers</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">&#9642;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Loss contingencies and product warranties</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">&#9642;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fair value measurements and other-than-temporary impairments</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">&#9642;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Goodwill and purchased intangible asset impairments</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">&#9642;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Income taxes</font></div></td></tr></table><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The actual results experienced by us may differ materially from management&#8217;s estimates.</font></div></div>

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