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Leases
 12 Months Ended
Jul. 31, 2022
Leases [Abstract]  
Lease Disclosure [Text Block] Leases
We lease warehouse and distribution facilities, office space, manufacturing facilities, equipment and vehicles, primarily through operating leases.
Leases recorded on our Consolidated Balance Sheet have remaining terms primarily from 1 to 13 years.
Our fleet leases generally include residual value guarantees that are assessed at lease inception in determining ROU assets and corresponding liabilities. No other significant restrictions or covenants are included in our leases.
The components of lease costs were as follows:
(Millions)202220212020
Operating lease cost$79 $80 $81 
Finance lease - amortization of ROU assets17 6 2 
Short-term lease cost56 48 39 
Variable lease cost(1)
202 201 172 
Sublease income
— (2)(3)
Total(2)
$354 $333 $291 
__________________________________________
(1)Includes labor and other overhead included in our service contracts with embedded leases.
(2)Total lease cost in 2020 included $4 million related to discontinued operations.

The following table summarizes the lease amounts recorded in the Consolidated Balance Sheets:
 Operating Leases
(Millions)Balance Sheet Classification20222021
ROU assets, netOther assets$239 $235 
Lease liabilities (current)Accrued liabilities$62 $54 
Lease liabilities (noncurrent)Other liabilities$177 $180 
Financing Leases
(Millions)Balance Sheet Classification20222021
ROU assets, netPlant assets, net of depreciation$28 $29 
Lease liabilities (current)Short-term borrowings$14 $11 
Lease liabilities (noncurrent)Long-term debt$16 $19 

Weighted-average lease terms and discount rates were as follows:
 July 31, 2022August 1, 2021
OperatingFinanceOperatingFinance
Weighted-average remaining term in years5.72.46.43.1
Weighted-average discount rate2.2 %0.8 %2.3 %0.8 %
Future minimum lease payments are as follows:
July 31, 2022
(Millions)OperatingFinance
2023$66 $14 
202453 10 
202540 3 
202627 3 
202722 — 
Thereafter49 — 
Total future undiscounted lease payments257 30 
Less imputed interest18 — 
Total reported lease liability$239 $30 
The following table summarizes cash flow and other information related to leases:
(Millions)20222021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$78 $79 
Financing cash flows from finance leases$17 $5 
ROU assets obtained in exchange for lease obligations:
Operating leases$79 $59 
Finance leases
$16 $25