Borrowings (Tables)

6 Months Ended

Jan. 24, 2015

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



	January 24, 2015				July 26, 2014
	Amount		Effective Rate		Amount		Effective Rate
Current portion of long-term debt	$	850	0.36	%	$	500	3.11	%
Other short-term debt	5		2.73	%	8		2.67	%
Total short-term debt	$	855			$	508

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



		January 24, 2015				July 26, 2014
	Maturity Date	Amount			Effective Rate	Amount			Effective Rate
Senior notes:
Floating-rate notes:
Three-month LIBOR plus 0.05%	September 3, 2015	$	850		0.36%	$	850		0.35%
Three-month LIBOR plus 0.28%	March 3, 2017	1,000			0.57%	1,000			0.56%
Three-month LIBOR plus 0.50%	March 1, 2019	500			0.79%	500			0.78%
Fixed-rate notes:
2.90%	November 17, 2014	—			—	500			3.11%
5.50%	February 22, 2016	3,000			3.05%	3,000			3.04%
1.10%	March 3, 2017	2,400			0.57%	2,400			0.56%
3.15%	March 14, 2017	750			0.80%	750			0.79%
4.95%	February 15, 2019	2,000			4.69%	2,000			4.69%
2.125%	March 1, 2019	1,750			0.78%	1,750			0.77%
4.45%	January 15, 2020	2,500			2.99%	2,500			2.98%
2.90%	March 4, 2021	500			0.94%	500			0.93%
3.625%	March 4, 2024	1,000			1.06%	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		2			2.08%	4			2.39%
Total		20,252				20,754
Unaccreted discount		(61		)		(63		)
Hedge accounting fair value adjustments		326				210
Total		$	20,517			$	20,901

Reported as:
Current portion of long-term debt		$	850			$	500
Long-term debt		19,667				20,401
Total		$	20,517			$	20,901

As of January 24, 2015, future principal payments for long-term debt, including the current portion, are summarized as follows (in millions):