Balance Sheet Components (Tables)

3 Months Ended

Apr. 27, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Certain balance sheet components are as follows:


	Apr 27, 2025		Jan 26, 2025

Inventories:	(In millions)
Raw materials	$	2,525	$	3,408
Work in process	5,339		3,399
Finished goods	3,469		3,273
Total inventories (1)	$	11,333	$	10,080

(1) We recorded an inventory provision of $2.3 billion in cost of revenue, including $1.9 billion for H20 product inventory for the first quarter of fiscal year 2026. The $1.9 billion inventory provision for H20 product inventory is part of the overall $4.5 billion charge associated with H20 product excess inventory and purchase obligations; the remaining portion is included in excess inventory purchase obligation liabilities. We recorded an inventory provision of $210 million in cost of revenue for the first quarter of fiscal year 2025.

Schedule of Other Assets


	Apr 27, 2025		Jan 26, 2025

Other Assets (Long Term):	(In millions)
Non-marketable equity securities	$	3,240	$	3,387
Prepaid supply and capacity agreements (1)	2,079		1,747
Income tax receivable	895		750
Prepaid royalties	334		340
Other	240		201
Total other assets	$	6,788	$	6,425

(1) Prepaid supply and capacity agreements of $2.1 billion and $3.3 billion were included in Prepaid expenses and other current assets as of April 27, 2025 and January 26, 2025, respectively.

Schedule of Accrued and Other Current Liabilities


	Apr 27, 2025		Jan 26, 2025

Accrued and Other Current Liabilities:	(In millions)
Taxes payable	$	5,672	$	881
Excess inventory purchase obligations (1)	4,310		2,095
Customer program accruals	4,261		4,880
Product warranty and return provisions	2,168		1,373
Deferred revenue (2)	1,074		837
Accrued payroll and related expenses	748		848
Unsettled share repurchases	306		132
Operating leases	300		288
Licenses and royalties	144		175
Other	228		228
Total accrued and other current liabilities	$	19,211	$	11,737

(1) We recorded excess inventory purchase obligation charges of $3.0 billion in cost of revenue, including $2.6 billion for H20 product orders for the first quarter of fiscal year 2026. The $2.6 billion excess inventory purchase obligation charge for H20 product orders is part of the overall $4.5 billion charge associated with H20 product excess inventory and purchase obligations; the remaining portion is included in Inventories. We recorded excess inventory purchase obligation charges of $183 million in cost of revenue for the first quarter of fiscal year 2025.

(2) Includes customer advances and unearned revenue related to hardware support, software support, cloud services, and license and development arrangements. The balance as of April 27, 2025 and January 26, 2025 included $287 million and $81 million of customer advances, respectively.

Schedule of Other Long-term Liabilities


	Apr 27, 2025		Jan 26, 2025

Other Long-Term Liabilities:	(In millions)
Income tax payable (1)	$	2,509	$	2,188
Deferred income tax	1,082		886
Deferred revenue (2)	1,004		976
Licenses payable	112		116
Other	177		79
Total other long-term liabilities	$	4,884	$	4,245

(1) Income tax payable is 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 quarter of fiscal years 2026 and 2025:


	Three Months Ended
	Apr 27, 2025		Apr 28, 2024

	(In millions)
Balance at beginning of period	$	1,813	$	1,337
Deferred revenue additions (1)	6,493		553
Revenue recognized (2)	(6,228)		(341)
Balance at end of period	$	2,078	$	1,549

(1) Deferred revenue additions includes $6.2 billion and $157 million of customer advances for the first quarter of fiscal years 2026 and 2025, respectively.

(2) Revenue recognized includes $6.0 billion and $123 million related to customer advances for the first quarter of fiscal years 2026 and 2025, respectively.