Leases (Tables)

6 Months Ended

Jan. 26, 2025

The components of lease costs were as follows:


	Three Months Ended				Six Months Ended
(Millions)	January 26, 2025		January 28, 2024		January 26, 2025		January 28, 2024
Operating lease cost(1)	$	27	$	24	$	56	$	48
Finance lease - amortization of right-of-use (ROU) assets	8		4		14		8
Finance lease - interest on lease liabilities	1		—		2		—
Short-term lease cost	15		16		30		35
Variable lease cost	59		49		124		102

Total	$	110	$	93	$	226	$	193

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

The following tables summarize the lease amounts recorded in the Consolidated Balance Sheets:


	Operating Leases
(Millions)	Balance Sheet Classification	January 26, 2025		July 28, 2024
ROU assets, net	Other assets	$	335	$	333
Lease liabilities (current)	Accrued liabilities	$	93	$	90
Lease liabilities (noncurrent)	Other liabilities	$	271	$	268

ROU assets, net	Assets of business held for sale	$	2	$	—
Lease liabilities (noncurrent)	Liabilities of business held for sale	$	2	$	—
	Finance Leases
(Millions)	Balance Sheet Classification	January 26, 2025		July 28, 2024
ROU assets, net	Plant assets, net of depreciation	$	71	$	72
Lease liabilities (current)	Short-term borrowings	$	30	$	25
Lease liabilities (noncurrent)	Long-term debt	$	44	$	46

ROU assets, net	Assets of business held for sale	$	12	$	—
Lease liabilities (noncurrent)	Liabilities of business held for sale	$	9	$	—

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


	Six Months Ended
(Millions)	January 26, 2025		January 28, 2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	52	$	46
Operating cash flows from finance leases	$	1	$	—
Financing cash flows from finance leases	$	14	$	8

ROU assets obtained in exchange for lease obligations:
Operating leases	$	54	$	63
Finance leases	$	25	$	15