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Leases
 12 Months Ended
Jul. 28, 2024
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 11 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)202420232022
Operating lease cost(1)
$101 $86 $79 
Finance lease - amortization of ROU assets22 16 17 
Finance lease - interest on lease liabilities2 — — 
Short-term lease cost66 64 56 
Variable lease cost217 207 202 
Total$408 $373 $354 
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(1)2024 excludes costs associated with the cost savings initiatives described in Note 8.
The following table summarizes the lease amounts recorded in the Consolidated Balance Sheets:
 Operating Leases
(Millions)Balance Sheet Classification20242023
ROU assets, netOther assets$333 $275 
Lease liabilities (current)Accrued liabilities$90 $70 
Lease liabilities (noncurrent)Other liabilities$268 $208 
Financing Leases
(Millions)Balance Sheet Classification20242023
ROU assets, netPlant assets, net of depreciation$72 $27 
Lease liabilities (current)Short-term borrowings$25 $13 
Lease liabilities (noncurrent)Long-term debt$46 $15 
Weighted-average lease terms and discount rates were as follows:
 20242023
OperatingFinanceOperatingFinance
Weighted-average remaining term in years4.88.25.12.6
Weighted-average discount rate4.2 %5.0 %3.2 %2.8 %
Future minimum lease payments are as follows:
(Millions)OperatingFinance
2025$104 $28 
202688 24 
202771 8 
202851 5 
202943 4 
Thereafter41 18 
Total future undiscounted lease payments398 87 
Less imputed interest40 16 
Total reported lease liability$358 $71 
The following table summarizes cash flow and other information related to leases:
(Millions)20242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$95 $84 
Operating cash flows from finance leases$2 $— 
Financing cash flows from finance leases$20 $17 
ROU assets obtained in exchange for lease obligations:
Operating leases$153 $117 
Finance leases
$55 $17 
ROU assets obtained with business acquired:
Operating leases$15 $— 
Finance leases$13 $—