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10-K.Info (Beta Test)
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CISCO SYSTEMS, INC.

Ticker: CSCO   Fiscal Year: 2020

Consolidated Statements of Operations

Period Ending July 25, 2020 10-K (Filed: Sept 3, 2020)

(In Millions)
 12 Months Ended12 Months Ended12 Months Ended
 July 25, 2020July 27, 2019July 28, 2018
REVENUE:
Revenue
$
49,301
51,90449,330
COST OF SALES:
Total cost of sales17,61819,23818,724
GROSS MARGIN31,68332,66630,606
 
OPERATING EXPENSES:
Research and development6,3476,5776,332
Sales and marketing9,1699,5719,242
General and administrative1,9251,8272,144
Amortization of purchased intangible assets141150221
Restructuring and other charges481322358
Total operating expenses18,06318,44718,297
 
OPERATING INCOME13,62014,21912,309
 
Interest income9201,3081,508
Interest expense(585)(859)(943)
Other income (loss), net15(97)165
Interest and other income (loss), net350352730
 
INCOME BEFORE PROVISION FOR INCOME TAXES13,97014,57113,039
 
Provision for income taxes2,7562,95012,929
NET INCOME11,21411,621110
 
Net income per share:
Basic (in dollars per share)2.652.630.02
Diluted (in dollars per share)2.642.610.02
Shares used in per-share calculation:
Basic (in shares)4,2364,4194,837
Diluted (in shares)4,2544,4534,881
Product and Service
Product
Revenue35,97839,00536,709
Total cost of sales13,19914,86314,427
Service
Revenue13,32312,89912,621
Total cost of sales4,4194,3754,297
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CISCO SYSTEMS, INC.

Ticker: CSCO   Fiscal Year: 2020

Consolidated Statements of Comprehensive Income (Loss)

Period Ending July 25, 2020 10-K (Filed: Sept 3, 2020)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 July 25, 2020July 27, 2019July 28, 2018
Net income
$
11,214
11,621110
Available-for-sale investments:
Change in net unrealized gains and losses, net of tax benefit (expense) of $(84), $(101), and $(11) for fiscal 2020, 2019, and 2018, respectively336459(554)
Net (gains) losses reclassified into earnings, net of tax expense (benefit) of $21, $6, and $104 for fiscal 2020, 2019, and 2018, respectively(21)19(183)
Total Available-for-sale investments315478(737)
 
Cash flow hedging instruments:
Change in unrealized gains and losses, net of tax benefit (expense) of $0, $0, and $(3) for fiscal 2020, 2019, and 2018, respectively7
Change in unrealized gains and losses, net of tax benefit (expense) of $0, $0, and $(3) for fiscal 2020, 2019, and 2018, respectively018
Net (gains) losses reclassified into earnings, net of tax (benefit) expense of $0, $0, and $7 for fiscal 2020, 2019, and 2018, respectively1
Net (gains) losses reclassified into earnings, net of tax (benefit) expense of $0, $0, and $7 for fiscal 2020, 2019, and 2018, respectively(3)(61)
Total cash flow hedging instruments8
 
Total Cash flow hedging instruments(3)(43)
 
Net change in cumulative translation adjustment and actuarial gains and losses, net of tax benefit (expense) of $(5), $15, and $(8) for fiscal 2020, 2019, and 2018, respectively(50)(250)(160)
Other comprehensive income (loss)273225(940)
 
Comprehensive income (loss)11,48711,846(830)
 
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CISCO SYSTEMS, INC.

Ticker: CSCO   Fiscal Year: 2020

Consolidated Statements of Cash Flows

Period Ending July 25, 2020 10-K (Filed: Sept 3, 2020)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 July 25, 2020July 27, 2019July 28, 2018
Cash flows from operating activities:
Net income
$
11,214
11,621110
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization, and other1,8081,8972,192
Share-based compensation expense1,5691,5701,576
Provision (benefit) for receivables9340(134)
Deferred income taxes(38)(350)900
(Gains) losses on divestitures, investments and other, net(138)(24)(322)
Change in operating assets and liabilities, net of effects of acquisitions and divestitures:
Accounts receivable(107)(84)(269)
Inventories84131(244)
Financing receivables(797)(249)(219)
Other assets96(955)66
Accounts payable14187504
Income taxes, net(322)3128,118
Accrued compensation(78)277100
Deferred revenue2,0111,4071,205
Other liabilities(110)15183
Net cash provided by operating activities15,42615,83113,666
 
Cash flows from investing activities:
Purchases of investments(9,212)(2,416)(14,285)
Proceeds from sales of investments5,6317,38817,706
Proceeds from maturities of investments7,97512,92815,769
Acquisitions and divestitures(327)(2,175)(2,979)
Purchases of investments in privately held companies(190)(148)(267)
Return of investments in privately held companies224159168
Acquisition of property and equipment(770)(909)(834)
Proceeds from sales of property and equipment1792259
Other(10)(12)(19)
Net cash provided by investing activities3,50014,83715,318
 
Cash flows from financing activities:
Issuances of common stock655640623
Repurchases of common stock - repurchase program(2,659)(20,717)(17,547)
Shares repurchased for tax withholdings on vesting of restricted stock units(727)(862)(703)
Short-term borrowings, original maturities of 90 days or less, net(3,470)3,446(2,502)
Issuances of debt02,2506,877
Repayments of debt(6,720)(6,780)(12,375)
Dividends paid(6,016)(5,979)(5,968)
Other51113(169)
Net cash used in financing activities(18,886)(27,889)(31,764)
 
Net increase (decrease) in cash, cash equivalents, and restricted cash402,779(2,780)
 
Cash, cash equivalents, and restricted cash, beginning of fiscal year11,7728,993
Cash, cash equivalents, and restricted cash, end of fiscal year11,81211,7728,993
 
Supplemental cash flow information:
Cash paid for interest603892911
Cash paid for income taxes, net3,1162,9863,911
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CISCO SYSTEMS, INC.

Ticker: CSCO   Fiscal Year: 2020

Consolidated Balance Sheets

Period Ending July 25, 2020 10-K (Filed: Sept 3, 2020)

(In Millions, except shares in actual)
 As ofAs of
 July 25, 2020July 27, 2019
ASSETS
Current assets:
Cash and cash equivalents
$
11,809
11,750
Investments17,61021,663
Accounts receivable, net of allowance for doubtful accounts of $143 at July 25, 2020 and $136 at July 27, 20195,4725,491
Inventories1,2821,383
Financing receivables, net5,0515,095
Other current assets2,3492,373
Total current assets43,57347,755
 
Property and equipment, net2,4532,789
Financing receivables, net5,7144,958
Goodwill33,80633,529
Purchased intangible assets, net1,5762,201
Deferred tax assets3,9904,065
Other assets3,7412,496
TOTAL ASSETS94,85397,793
 
LIABILITIES AND EQUITY
Current liabilities:
Short-term debt3,00510,191
Accounts payable2,2182,059
Income taxes payable8391,149
Accrued compensation3,1223,221
Deferred revenue11,40610,668
Other current liabilities4,7414,424
Total current liabilities25,33131,712
 
Long-term debt11,57814,475
Income taxes payable8,8378,927
Deferred revenue9,0407,799
Other long-term liabilities2,1471,309
Total liabilities56,93364,222
 
Commitments and contingencies (Note 14)  
Equity:
Cisco shareholders equity:
Preferred stock, no par value: 5 shares authorized; none issued and outstanding00
Common stock and additional paid-in capital, $0.001 par value: 20,000 shares authorized; 4,237 and 4,250 shares issued and outstanding at July 25, 2020 and July 27, 2019, respectively41,20240,266
Accumulated deficit(2,763)(5,903)
Accumulated other comprehensive loss(519)(792)
Total equity37,92033,571
 
TOTAL LIABILITIES AND EQUITY94,85397,793
 
External Links 
CISCO SYSTEMS, INC. (CSCO) Fiscal Year 2020
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