Employee Benefit Plans (Tables)

12 Months Ended

Jul. 29, 2017

Retirement Benefits [Abstract]

Summary of Share-Based Compensation Expense

Share-based compensation expense consists primarily of expenses for stock options, stock purchase rights, restricted stock, and restricted stock units granted to employees. The following table summarizes share-based compensation expense (in millions):

Years Ended	July 29, 2017		July 30, 2016		July 25, 2015
Cost of sales—product	$	85	$	70	$	50
Cost of sales—service	134		142		157
Share-based compensation expense in cost of sales	219		212		207
Research and development	529		470		448
Sales and marketing	542		545		559
General and administrative	236		205		228
Restructuring and other charges	3		26		(2		)
Share-based compensation expense in operating expenses	1,310		1,246		1,233
Total share-based compensation expense	$	1,529	$	1,458	$	1,440
Income tax benefit for share-based compensation	$	451	$	429	$	373

Summary of Share-Based Awards Available for Grant

A summary of share-based awards available for grant is as follows (in millions):

Years Ended	July 29, 2017		July 30, 2016		July 25, 2015
Balance at beginning of fiscal year	242		276		310
Restricted stock, stock units, and other share-based awards granted	(76	)	(96	)	(101	)
Share-based awards canceled/forfeited/expired	78		30		40
Shares withheld for taxes and not issued	28		30		27
Other	—		2		—
Balance at end of fiscal year	272		242		276

Summary of Restricted Stock and Stock Unit Activity

A summary of the restricted stock and stock unit activity, which includes time-based and performance-based or market-based restricted stock units, is as follows (in millions, except per-share amounts):

	Restricted Stock/ Stock Units		Weighted-Average Grant Date Fair Value per Share		Aggregate Fair  Value
UNVESTED BALANCE AT JULY 26, 2014	149		$	19.54
Granted	66		25.23
Assumed from acquisitions	1		24.85
Vested	(57	)	19.82		$	1,517
Canceled/forfeited/other	(16	)	19.67
UNVESTED BALANCE AT JULY 25, 2015	143		22.08
Granted	62		25.90
Assumed from acquisitions	6		24.58
Vested	(54	)	20.68		$	1,428
Canceled/forfeited/other	(12	)	22.91
UNVESTED BALANCE AT JULY 30, 2016	145		24.26
Granted	50		27.89
Assumed from acquisitions	15		32.21
Vested	(54	)	23.14		$	1,701
Canceled/forfeited/other	(15	)	23.56
UNVESTED BALANCE AT JULY 29, 2017	141		$	26.94

Summary of Stock Option Activity

A summary of the stock option activity is as follows (in millions, except per-share amounts):

	STOCK OPTIONS OUTSTANDING
	Number Outstanding		Weighted-Average Exercise Price per Share
BALANCE AT JULY 26, 2014	187		$	26.03
Assumed from acquisitions	1		2.60
Exercised	(71	)	21.15
Canceled/forfeited/expired	(14	)	29.68
BALANCE AT JULY 25, 2015	103		28.68
Assumed from acquisitions	18		5.17
Exercised	(32	)	19.22
Canceled/forfeited/expired	(16	)	30.01
BALANCE AT JULY 30, 2016	73		26.78
Assumed from acquisitions	8		4.47
Exercised	(14	)	12.11
Canceled/forfeited/expired	(55	)	31.83
BALANCE AT JULY 29, 2017	12		$	6.15

Summary of Significant Ranges of Outstanding and Exercisable Stock Options

The following table summarizes significant ranges of outstanding and exercisable stock options as of July 29, 2017 (in millions, except years and share prices):

	STOCK OPTIONS OUTSTANDING						STOCK OPTIONS EXERCISABLE
Range of Exercise Prices	Number Outstanding	Weighted- Average Remaining Contractual Life (in Years)	Weighted- Average Exercise Price per Share		Aggregate Intrinsic Value		Number Exercisable	Weighted- Average Exercise Price per Share		Aggregate Intrinsic Value
$   0.01 – 20.00	12	6.3	$	6.15	$	307	6	$	5.61	$	163

Schedule of Assumptions Used

The assumptions for the valuation of time-based RSUs and PRSUs are summarized as follows:

	RESTRICTED STOCK UNITS
Years Ended	July 29, 2017			July 30, 2016			July 25, 2015
Number of shares granted (in millions)	43			57			55
Grant date fair value per share	$	28.38		$	26.01		$	25.30
Weighted-average assumptions/inputs:
Expected dividend yield	3.5		%	3.2		%	2.9		%
Range of risk-free interest rates	0.0% – 1.5%			0.0% – 1.2%			0.0% – 1.8%

	PERFORMANCE BASED RESTRICTED STOCK UNITS
Years Ended	July 29, 2017			July 30, 2016			July 25, 2015
Number of shares granted (in millions)	7			5			11
Grant date fair value per share	$	28.94		$	24.70		$	24.85
Weighted-average assumptions/inputs:
Expected dividend yield	3.4		%	3.1		%	3.0		%
Range of risk-free interest rates	0.1% – 1.5%			0.0% – 1.2%			0.0% – 1.8%
Range of expected volatilities for index	16.7% – 46.8%			15.3% – 54.3%			14.3% – 70.0%

Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions

The assumptions for the valuation of employee stock purchase rights are summarized as follows:

	EMPLOYEE STOCK PURCHASE RIGHTS
Years Ended	July 29, 2017			July 30, 2016			July 25, 2015
Weighted-average assumptions:
Expected volatility	24.6		%	23.9		%	26.0		%
Risk-free interest rate	0.7		%	0.4		%	0.3		%
Expected dividend	3.2		%	3.1		%	2.8		%
Expected life (in years)	1.3			1.3			1.8
Weighted-average estimated grant date fair value per share	$	6.52		$	5.73		$	6.54