Derivative Instruments (Tables)

3 Months Ended

Oct. 25, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives Recorded At Fair Value

The fair values of the Company’s derivative instruments and the line items on the Consolidated Balance Sheets to which they were recorded are summarized as follows (in millions):

	DERIVATIVE ASSETS					DERIVATIVE LIABILITIES
	Balance Sheet  Line Item	October 25, 2014		July 26, 2014		Balance Sheet Line Item	October 25, 2014		July 26, 2014
Derivatives designated as hedging instruments:
Foreign currency derivatives	Other current assets	$	8	$	7	Other current liabilities	$	46	$	6
Interest rate derivatives	Other assets	217		148		Other long-term liabilities	—		3
Equity derivatives	Other current assets	—		—		Other current liabilities	50		56
Total		225		155			96		65
Derivatives not designated as hedging instruments:
Foreign currency derivatives	Other current assets	2		3		Other current liabilities	3		2
Equity derivatives	Other assets	—		2		Other long-term liabilities	—		—
Total		2		5			3		2
Total		$	227	$	160		$	99	$	67

Gains And Losses On Derivatives Designated As Cash Flow Hedges

The effects of the Company’s cash flow and net investment hedging instruments on other comprehensive income (OCI) and the Consolidated Statements of Operations are summarized as follows (in millions):

GAINS (LOSSES) RECOGNIZED IN OCI ON DERIVATIVES FOR THE THREE MONTHS ENDED (EFFECTIVE PORTION)							GAINS (LOSSES) RECLASSIFIED FROM AOCI INTO INCOME FOR THE THREE MONTHS ENDED (EFFECTIVE PORTION)
	October 25, 2014			October 26, 2013			Line Item in Statements of Operations	October 25, 2014			October 26, 2013
Derivatives designated as cash flow hedging instruments:
Foreign currency derivatives	$	(56	)	$	38		Operating expenses	$	(3	)	$	7
							Cost of sales—service	(1		)	2
Total	$	(56	)	$	38			$	(4	)	$	9
Derivatives designated as net investment hedging instruments:
Foreign currency derivatives	$	20		$	(19	)	Other income (loss), net	$	—		$	—

Schedule Of Derivative Fair Value Hedge Instruments Gain Loss In Statement Of Financial Performance

The effect on the Consolidated Statements of Operations of derivative instruments designated as fair value hedges and the underlying hedged items is summarized as follows (in millions):

		GAINS (LOSSES) ON DERIVATIVE INSTRUMENTS FOR THE THREE MONTHS ENDED					GAINS (LOSSES) RELATED TO HEDGED ITEMS FOR THE THREE MONTHS ENDED
Derivatives Designated as Fair Value Hedging Instruments	Line Item in Statements of Operations	October 25, 2014		October 26, 2013			October 25, 2014			October 26, 2013
Equity derivatives	Other income (loss), net	$	6	$	(35	)	$	(6	)	$	35
Interest rate derivatives	Interest expense	70		18			(73		)	(20		)
Total		$	76	$	(17	)	$	(79	)	$	15

Effect Of Derivative Instruments Not Designated As Fair Value Hedges On Consolidated Statement Of Operations Summary

The effect on the Consolidated Statements of Operations of derivative instruments not designated as hedges is summarized as follows (in millions):

		GAINS (LOSSES) FOR THE THREE MONTHS ENDED
Derivatives Not Designated as Hedging Instruments	Line Item in Statements of Operations	October 25, 2014			October 26, 2013
Foreign currency derivatives	Other income (loss), net	$	(58	)	$	43
Total return swaps—deferred compensation	Operating expenses	(13		)	17
Equity derivatives	Other income (loss), net	(4		)	11
Total		$	(75	)	$	71

Schedule Of Notional Amounts Of Derivatives Outstanding

The notional amounts of the Company’s outstanding derivatives are summarized as follows (in millions):

	October 25, 2014		July 26, 2014
Derivatives designated as hedging instruments:
Foreign currency derivatives—cash flow hedges	$	2,614	$	1,618
Interest rate derivatives	10,400		10,400
Net investment hedging instruments	372		345
Equity derivatives	238		238
Derivatives not designated as hedging instruments:
Foreign currency derivatives	2,445		2,528
Total return swaps—deferred compensation	438		428
Total	$	16,507	$	15,557

Offsetting Assets and Liabilities

Information related to these offsetting arrangements is summarized as follows (in millions):

	OFFSETTING OF DERIVATIVE ASSETS
	Gross Amounts Offset in Consolidated Balance Sheets						Gross Amounts Not Offset in the Consolidated Balance Sheets, but with Legal Rights to Offset
October 25, 2014	Gross Amount of Recognized Assets		Gross Amounts Offset in Consolidated Balance Sheets		Net Amount Presented on Consolidated Balance Sheets		Gross Derivative Amounts with Legal Rights to Offset			Cash Collateral Received			Net Amount
Derivatives	$	227	$	—	$	227	$	(59	)	$	(115	)	$	53

	OFFSETTING OF DERIVATIVE LIABILITIES
	Gross Amounts Offset in Consolidated Balance Sheets						Gross Amounts Not Offset in the Consolidated Balance Sheets, but with Legal Rights to Offset
October 25, 2014	Gross Amount of Recognized Liabilities		Gross Amounts Offset in Consolidated Balance Sheets		Net Amount Presented on Consolidated Balance Sheets		Gross Derivative Amounts with Legal Rights to Offset			Cash Collateral Pledged		Net Amount
Derivatives	$	99	$	—	$	99	$	(59	)	$	—	$	40

	OFFSETTING OF DERIVATIVE ASSETS
	Gross Amounts Offset in Consolidated Balance Sheets						Gross Amounts Not Offset in the Consolidated Balance Sheets, but with Legal Rights to Offset
July 26, 2014	Gross Amount of Recognized Assets		Gross Amounts Offset in Consolidated Balance Sheets		Net Amount Presented on Consolidated Balance Sheets		Gross Derivative Amounts with Legal Rights to Offset			Cash Collateral Received			Net Amount
Derivatives	$	160	$	—	$	160	$	(39	)	$	(60	)	$	61

	OFFSETTING OF DERIVATIVE LIABILITIES
	Gross Amounts Offset in Consolidated Balance Sheets						Gross Amounts Not Offset in the Consolidated Balance Sheets, but with Legal Rights to Offset
July 26, 2014	Gross Amount of Recognized Liabilities		Gross Amounts Offset in Consolidated Balance Sheets		Net Amount Presented on Consolidated Balance Sheets		Gross Derivative Amounts with Legal Rights to Offset			Cash Collateral Pledged			Net Amount
Derivatives	$	67	$	—	$	67	$	(39	)	$	(1	)	$	27