Leases (Tables)

12 Months Ended

Jul. 30, 2023

Leases [Abstract]

Lease, Cost

The components of lease costs were as follows:

(Millions)	2023		2022		2021
Operating lease cost	$	86	$	79	$	80
Finance lease - amortization of ROU assets	16		17		6
Short-term lease cost	64		56		48
Variable lease cost(1)	207		202		201
Sublease income	—		—		(2)
Total	$	373	$	354	$	333

__________________________________________

(1)Includes labor and other overhead included in our service contracts with embedded leases.

Schedule of Leases Reported in Balance Sheet [Table]

The following table summarizes the lease amounts recorded in the Consolidated Balance Sheets:

	Operating Leases
(Millions)	Balance Sheet Classification	2023		2022
ROU assets, net	Other assets	$	275	$	239
Lease liabilities (current)	Accrued liabilities	$	70	$	62
Lease liabilities (noncurrent)	Other liabilities	$	208	$	177
	Financing Leases
(Millions)	Balance Sheet Classification	2023		2022
ROU assets, net	Plant assets, net of depreciation	$	27	$	28
Lease liabilities (current)	Short-term borrowings	$	13	$	14
Lease liabilities (noncurrent)	Long-term debt	$	15	$	16

Weighted Average Lease Information [Table]

Weighted-average lease terms and discount rates were as follows:

	July 30, 2023				July 31, 2022
	Operating		Finance		Operating		Finance
Weighted-average remaining term in years	5.1		2.6		5.7		2.4
Weighted-average discount rate	3.2	%	2.8	%	2.2	%	0.8	%

Lessee, Operating Lease, Liability, Maturity

Future minimum lease payments are as follows:

	July 30, 2023
(Millions)	Operating		Finance
2024	$	77	$	13
2025	71		8
2026	48		7
2027	37		1
2028	24		—
Thereafter	46		—
Total future undiscounted lease payments	303		29
Less imputed interest	25		1
Total reported lease liability	$	278	$	28

Finance Lease, Liability, Fiscal Year Maturity

Future minimum lease payments are as follows:

	July 30, 2023
(Millions)	Operating		Finance
2024	$	77	$	13
2025	71		8
2026	48		7
2027	37		1
2028	24		—
Thereafter	46		—
Total future undiscounted lease payments	303		29
Less imputed interest	25		1
Total reported lease liability	$	278	$	28

Schedule of Supplemental Cash Flow Information Related to Leases [Table]

The following table summarizes cash flow and other information related to leases:

(Millions)	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	84	$	78
Financing cash flows from finance leases	$	17	$	17
ROU assets obtained in exchange for lease obligations:
Operating leases	$	117	$	79
Finance leases	$	17	$	16