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Shareholders' Equity
 3 Months Ended
Oct. 29, 2016
Stockholders' Equity Note [Abstract]  
Shareholders' Equity
Shareholders’ Equity
(a)
Cash Dividends on Shares of Common Stock
During the three months ended October 29, 2016, the Company declared and paid cash dividends of $0.26 per common share, or $1.3 billion, on the Company’s outstanding common stock. During the three months ended October 24, 2015, the Company declared and paid cash dividends of $0.21 per common share, or $1.1 billion, on the Company’s outstanding common stock.
Any future dividends will be subject to the approval of the Company's Board of Directors.
(b)
Stock Repurchase Program
In September 2001, the Company’s Board of Directors authorized a stock repurchase program. As of October 29, 2016, the Company’s Board of Directors had authorized an aggregate repurchase of up to $112 billion of common stock under this program, and the remaining authorized repurchase amount was $14.4 billion, with no termination date. A summary of the stock repurchase activity under the stock repurchase program, reported based on the trade date, is summarized as follows (in millions, except per-share amounts):
 
Shares
Repurchased
 
Weighted-
Average Price
per Share
 
Amount
Repurchased
Cumulative balance at July 30, 2016
4,591

 
$
21.04

 
$
96,597

Repurchase of common stock under the stock repurchase program (1)
32

 
31.12

 
1,001

Cumulative balance at October 29, 2016
4,623

 
$
21.11

 
$
97,598


(1) There were $23 million of stock repurchases pending settlement as of October 29, 2016. There were $45 million of stock repurchases that were pending settlement as of July 30, 2016.
The purchase price for the shares of the Company’s stock repurchased is reflected as a reduction to shareholders’ equity. The Company is required to allocate the purchase price of the repurchased shares as (i) a reduction to retained earnings and (ii) a reduction of common stock and additional paid-in capital.
(c)
Restricted Stock Unit Withholdings
For the three months ended October 29, 2016 and October 24, 2015, the Company repurchased approximately 13 million and 15 million shares, or $401 million and $382 million, of common stock, respectively, in settlement of employee tax withholding obligations due upon the vesting of restricted stock or stock units.
(d) Preferred Stock
Under the terms of the Company’s Articles of Incorporation, the Board of Directors may determine the rights, preferences, and terms of the Company’s authorized but unissued shares of preferred stock.