Borrowings (Tables)

12 Months Ended

Jul. 26, 2014

The following table summarizes the Company’s short-term debt (in millions, except percentages):



	July 26, 2014				July 27, 2013
	Amount		Effective Rate		Amount		Effective Rate
Current portion of long-term debt	$	500	3.11	%	$	3,273	0.63	%
Other notes and borrowings	8		2.67	%	10		2.52	%
Total short-term debt	$	508			$	3,283

The following table summarizes the Company’s long-term debt (in millions, except percentages):



			July 26, 2014				July 27, 2013
	Maturity Date		Amount			Effective Rate	Amount			Effective Rate
Senior notes:
Floating-rate notes:
Three-month LIBOR plus 0.25%	March 14, 2014		$	—		—	$	1,250		0.62%
Three-month LIBOR plus 0.05%	September 3, 2015	(1)	850			0.35%	—			—
Three-month LIBOR plus 0.28%	March 3, 2017	(1)	1,000			0.56%	—			—
Three-month LIBOR plus 0.50%	March 1, 2019	(1)	500			0.78%	—			—
Fixed-rate notes:
1.625%	March 14, 2014		—			—	2,000			0.64%
2.90%	November 17, 2014		500			3.11%	500			3.11%
5.50%	February 22, 2016		3,000			3.04%	3,000			3.07%
1.10%	March 3, 2017	(1)	2,400			0.56%	—			—
3.15%	March 14, 2017		750			0.79%	750			0.84%
4.95%	February 15, 2019		2,000			4.69%	2,000			4.70%
2.125%	March 1, 2019	(1)	1,750			0.77%	—			—
4.45%	January 15, 2020		2,500			2.98%	2,500			4.15%
2.90%	March 4, 2021	(1)	500			0.93%	—			—
3.625%	March 4, 2024	(1)	1,000			1.05%	—			—
5.90%	February 15, 2039		2,000			6.11%	2,000			6.11%
5.50%	January 15, 2040		2,000			5.67%	2,000			5.67%
Other long-term debt			4			2.39%	21			1.46%
Total			20,754				16,021
Unaccreted discount			(63		)		(65		)
Hedge accounting fair value adjustments			210				245
Total			$	20,901			$	16,201

Reported as:
Current portion of long-term debt			$	500			$	3,273
Long-term debt			20,401				12,928
Total			$	20,901			$	16,201

⁽¹⁾ In March 2014, the Company issued senior notes for an aggregate principal amount of $8.0 billion.

As of July 26, 2014, future principal payments for long-term debt, including the current portion, are summarized as follows (in millions):