CSCO · 10-K · 2025A · Full report
Commercial Paper Trends
CISCO SYSTEMS, INC. · 2025-09-03 · Importance 77 · Surprise 82
Commercial paper notes outstanding were $3.5 billion as of July 26, 2025, down from $10.9 billion as of July 27, 2024, reflecting a $7.4 billion reduction in short-term market borrowings year over year. Cisco maintains a commercial paper program with up to $15.0 billion available for general corporate purposes. Proceeds from the commercial paper program are used for general corporate purposes including working capital, capital expenditures and stock repurchases.
Key facts
- Cisco had $3.5 billion in commercial paper notes outstanding as of July 26, 2025, compared with $10.9 billion outstanding as of July 27, 2024.
- Cisco's commercial paper program has up to $15.0 billion available through issuance of commercial paper notes for general corporate purposes.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | positive | realized | +6.0% | Cisco had $3.5 billion in commercial paper notes outstanding as of July 26, 2025, compared with $10.9 billion outstanding as of July 27,… |