Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Cisco Systems Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

	Jul 26, 2025	Apr 26, 2025	Jan 25, 2025	Oct 26, 2024	Jul 27, 2024	Apr 27, 2024	Jan 27, 2024	Oct 28, 2023	Jul 29, 2023	Apr 29, 2023	Jan 28, 2023	Oct 29, 2022	Jul 30, 2022	Apr 30, 2022	Jan 29, 2022	Oct 30, 2021	Jul 31, 2021	May 1, 2021	Jan 23, 2021	Oct 24, 2020	Jul 25, 2020	Apr 25, 2020	Jan 25, 2020	Oct 26, 2019
Short-term debt	5,232)	6,422)	11,413)	12,364)	11,341)	11,891)	4,936)	990)	1,733)	1,731)	1,250)	1,249)	1,099)	1,000)	2,502)	506)	2,508)	2,000)	5,000)	5,002)	3,005)	4,506)	1,499)	4,000)
Accounts payable	2,528)	2,260)	1,902)	1,996)	2,304)	2,054)	1,848)	2,084)	2,313)	2,442)	2,329)	2,316)	2,281)	2,289)	2,101)	2,261)	2,362)	2,440)	1,867)	2,294)	2,218)	2,393)	1,935)	2,016)
Income taxes payable	1,857)	1,821)	1,884)	2,096)	1,439)	1,867)	1,876)	2,380)	4,235)	3,132)	2,200)	890)	961)	852)	837)	816)	801)	753)	763)	810)	839)	1,047)	819)	794)
Accrued compensation	3,611)	3,210)	3,299)	2,861)	3,608)	3,211)	3,216)	3,039)	3,984)	3,352)	3,187)	2,907)	3,316)	3,032)	3,364)	3,231)	3,818)	3,327)	3,295)	2,978)	3,122)	2,940)	2,690)	2,735)
Deferred revenue	16,416)	16,081)	15,999)	15,615)	16,249)	15,751)	14,011)	13,812)	13,908)	13,249)	13,109)	12,578)	12,784)	12,249)	12,268)	12,017)	12,148)	11,492)	11,552)	11,271)	11,406)	10,710)	10,638)	10,646)
Other current liabilities	5,420)	4,701)	5,522)	5,610)	5,643)	5,334)	4,964)	4,730)	5,136)	4,813)	5,177)	4,956)	5,199)	4,728)	4,843)	4,407)	4,620)	4,250)	4,791)	4,636)	4,741)	4,341)	4,507)	4,406)
Current liabilities	35,064)	34,495)	40,019)	40,542)	40,584)	40,108)	30,851)	27,035)	31,309)	28,719)	27,252)	24,896)	25,640)	24,150)	25,915)	23,238)	26,257)	24,262)	27,268)	26,991)	25,331)	25,937)	22,088)	24,597)
Long-term debt, excluding current portion	22,861)	22,857)	19,625)	19,623)	19,621)	20,102)	6,669)	6,660)	6,658)	6,663)	7,637)	7,629)	8,416)	8,418)	8,969)	8,996)	9,018)	9,532)	9,554)	9,564)	11,578)	11,578)	14,494)	14,497)
Income taxes payable	2,165)	1,874)	1,756)	3,367)	3,985)	2,869)	3,390)	5,790)	5,756)	6,725)	6,609)	7,835)	7,725)	7,689)	7,628)	8,553)	8,538)	8,247)	8,084)	8,786)	8,837)	8,285)	8,227)	8,919)
Deferred revenue	12,363)	11,910)	11,796)	11,887)	12,226)	11,724)	11,760)	11,847)	11,642)	11,011)	10,818)	10,441)	10,480)	10,044)	10,045)	10,055)	10,016)	9,397)	9,294)	9,202)	9,040)	7,938)	8,048)	7,956)
Other long-term liabilities	2,995)	2,711)	2,649)	2,637)	2,540)	2,427)	2,253)	2,240)	2,134)	2,116)	2,050)	1,981)	1,968)	2,096)	2,209)	2,438)	2,393)	2,253)	2,280)	2,303)	2,147)	1,948)	2,036)	2,100)
Long-term liabilities	40,384)	39,352)	35,826)	37,514)	38,372)	37,122)	24,072)	26,537)	26,190)	26,515)	27,114)	27,886)	28,589)	28,247)	28,851)	30,042)	29,965)	29,429)	29,212)	29,855)	31,602)	29,749)	32,805)	33,472)
Total liabilities	75,448)	73,847)	75,845)	78,056)	78,956)	77,230)	54,923)	53,572)	57,499)	55,234)	54,366)	52,782)	54,229)	52,397)	54,766)	53,280)	56,222)	53,691)	56,480)	56,846)	56,933)	55,686)	54,893)	58,069)
Preferred stock, $0.001 par value; none issued and outstanding	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Common stock and additional paid-in capital, $0.001 par value	47,747)	46,916)	46,521)	45,991)	45,800)	45,343)	45,002)	44,546)	44,289)	43,639)	43,424)	42,984)	42,714)	42,587)	42,291)	42,621)	42,346)	41,949)	41,690)	41,360)	41,202)	40,691)	40,617)	40,321)
Retained earnings (accumulated deficit)	50)	152)	502)	662)	1,087)	2,055)	2,761)	2,689)	1,639)	262)	(364)	(594)	(1,319)	(724)	(2,006)	553)	(654)	(1,456)	(2,351)	(2,756)	(2,763)	(3,874)	(4,384)	(5,083)
Accumulated other comprehensive loss	(954)	(1,133)	(1,493)	(1,376)	(1,430)	(1,630)	(1,512)	(2,025)	(1,575)	(1,606)	(1,586)	(2,118)	(1,622)	(1,463)	(789)	(473)	(417)	(288)	(218)	(447)	(519)	(1,109)	(700)	(815)
Total equity	46,843)	45,935)	45,530)	45,277)	45,457)	45,768)	46,251)	45,210)	44,353)	42,295)	41,474)	40,272)	39,773)	40,400)	39,496)	42,701)	41,275)	40,205)	39,121)	38,157)	37,920)	35,708)	35,533)	34,423)
Total liabilities and equity	122,291)	119,782)	121,375)	123,333)	124,413)	122,998)	101,174)	98,782)	101,852)	97,529)	95,840)	93,054)	94,002)	92,797)	94,262)	95,981)	97,497)	93,896)	95,601)	95,003)	94,853)	91,394)	90,426)	92,492)

Short-term debt: The short-term debt fluctuated significantly over the periods, initially decreasing from 4,000 million USD in October 2019 to 1,499 million USD by January 2020. Subsequently, it showed a pattern of spikes and drops, reaching a peak of 11,891 million USD in April 2024 before declining again towards 5,232 million USD by July 2025. These variations suggest active management of short-term financing needs or opportunistic debt issuance and repayment.
Accounts payable: Accounts payable remained relatively stable, oscillating generally between 1,800 million USD and 2,500 million USD throughout the period. There were no pronounced trends, indicating consistent operating cycle patterns and supplier payment practices.
Income taxes payable: Income taxes payable showed noticeable volatility, with a substantial increase from 890 million USD in October 2022 to 4,235 million USD in July 2023, indicating a peak in tax obligations during that period. Subsequently, it declined but remained elevated compared to earlier periods, suggesting fluctuations in taxable income or deferred tax positions.
Accrued compensation: Accrued compensation exhibited an overall upward trend with fluctuations. Amounts increased from 2,735 million USD in October 2019 to a high of 3,984 million USD in July 2023, showing periods of increased employee-related liabilities, possibly reflecting workforce growth or compensation changes. The values oscillated after this peak but remained higher than early periods.
Deferred revenue (current): Deferred revenue steadily increased from 10,646 million USD in October 2019 to 16,416 million USD in October 2024. This gradual rise indicates growing advance collections or subscription/model changes leading to more revenue recognition over time.
Other current liabilities: Other current liabilities fluctuated moderately, generally hovering between 4,000 million USD and 5,600 million USD, with a slight upward trend observed from 4,406 million USD in October 2019 to 5,420 million USD in July 2025. This points to relatively stable miscellaneous current obligations.
Current liabilities (aggregate): Current liabilities showed variability but an overall increasing tendency, rising from 24,597 million USD in October 2019 to peaks above 40,000 million USD in the 2023-2024 period, before decreasing somewhat by mid-2025. The increase reflects growth in short-term obligations, driven by spikes in short-term debt and deferred revenue.
Long-term debt, excluding current portion: Long-term debt decreased markedly from 14,497 million USD in October 2019 to approximately 6,600 million USD by July 2023. However, there was a significant jump to over 20,000 million USD starting in April 2024, sustained through mid-2025. This indicates a strategic increase in long-term borrowing in the recent period following a phase of debt reduction.
Income taxes payable (long-term): Long-term income taxes payable declined substantially over time, dropping from 8,919 million USD in October 2019 to as low as 1,756 million USD in January 2025, indicating settlements or reclassification of tax liabilities to current or paid status.
Deferred revenue (long-term): Long-term deferred revenue was relatively stable, fluctuating slightly around 7,900 million USD to 12,363 million USD without a clear trend, suggesting steady deferred income from longer-term contracts.
Other long-term liabilities: Other long-term liabilities showed a modest increasing trend, moving from 2,100 million USD in October 2019 to approximately 3,000 million USD by July 2025, indicating gradually increasing obligations outside of debt and taxes.
Long-term liabilities (aggregate): Long-term liabilities decreased from around 33,472 million USD in October 2019 to about 26,190 million USD in July 2023. This was followed by a sharp increase exceeding 37,000 million USD in 2024 through 2025, largely driven by the increase in long-term debt, reflecting a significant change in the capital structure.
Total liabilities: Total liabilities remained broadly consistent from approximately 58,069 million USD in October 2019 to around 54,000-57,000 million USD through early 2023, before rising sharply to over 77,000 million USD by 2024-2025. This increase stems primarily from elevated short-term and long-term debt levels.
Common stock and additional paid-in capital: Common stock and additional paid-in capital exhibited a gradual, steady increase from 40,321 million USD in October 2019 to 47,747 million USD by July 2025, indicating incremental equity financing or retained earnings reinvested into the company.
Retained earnings: Retained earnings improved significantly from a deficit of -5,083 million USD in October 2019 to positive territory by October 2021 (553 million USD), then experienced fluctuations but generally trended positively, ending near 50 million USD in mid-2025. This suggests a recovery in accumulated profitability over the timeframe.
Accumulated other comprehensive loss: Accumulated other comprehensive loss showed fluctuations, with values ranging between -954 million USD and -2,118 million USD, without a clear direction over the period. This indicates varying unrealized losses or gains on items such as foreign currency translation or hedging activities.
Total equity: Total equity grew steadily from 34,423 million USD in October 2019 to approximately 46,843 million USD in July 2025, reflecting an overall strengthening of the company's net financial position driven by retained earnings and capital contributions.
Total liabilities and equity: The aggregate value of total liabilities and equity increased from approximately 92,492 million USD in October 2019 to over 122,000 million USD by mid-2025, with notable expansion in liabilities contributing significantly to this growth alongside steady equity increases.

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Cisco Systems Inc. (NASDAQ:CSCO)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data