Leases (Tables)

12 Months Ended

Jul. 28, 2024

Leases [Abstract]

Lease, Cost

The components of lease costs were as follows:

(Millions)	2024		2023		2022
Operating lease cost(1)	$	101	$	86	$	79
Finance lease - amortization of ROU assets	22		16		17
Finance lease - interest on lease liabilities	2		—		—
Short-term lease cost	66		64		56
Variable lease cost	217		207		202
Total	$	408	$	373	$	354

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(1)2024 excludes costs associated with the cost savings initiatives described in Note 8.

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	2024		2023
ROU assets, net	Other assets	$	333	$	275
Lease liabilities (current)	Accrued liabilities	$	90	$	70
Lease liabilities (noncurrent)	Other liabilities	$	268	$	208
	Financing Leases
(Millions)	Balance Sheet Classification	2024		2023
ROU assets, net	Plant 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 Information [Table]

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

	2024				2023
	Operating		Finance		Operating		Finance
Weighted-average remaining term in years	4.8		8.2		5.1		2.6
Weighted-average discount rate	4.2	%	5.0	%	3.2	%	2.8	%

Lessee, Operating Lease, Liability, Maturity

Future minimum lease payments are as follows:

(Millions)	Operating		Finance
2025	$	104	$	28
2026	88		24
2027	71		8
2028	51		5
2029	43		4
Thereafter	41		18
Total future undiscounted lease payments	398		87
Less imputed interest	40		16
Total reported lease liability	$	358	$	71

Finance Lease, Liability, Fiscal Year Maturity

Future minimum lease payments are as follows:

(Millions)	Operating		Finance
2025	$	104	$	28
2026	88		24
2027	71		8
2028	51		5
2029	43		4
Thereafter	41		18
Total future undiscounted lease payments	398		87
Less imputed interest	40		16
Total reported lease liability	$	358	$	71

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

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

(Millions)	2024		2023
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	$	—