Borrowings (Tables)

6 Months Ended

Jan. 27, 2018

Debt Disclosure [Abstract]

Schedule of Short-Term Debt

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

	January 27, 2018				July 29, 2017
	Amount		Effective Rate		Amount		Effective Rate
Current portion of long-term debt	$	4,749	1.78	%	$	4,747	1.66	%
Commercial paper	8,992		1.51	%	3,245		1.16	%
Total short-term debt	$	13,741			$	7,992

Schedule of Long-Term Debt

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

		January 27, 2018				July 29, 2017
	Maturity Date	Amount			Effective Rate	Amount			Effective Rate
Senior notes:
Floating-rate notes:
Three-month LIBOR plus 0.60%	February 21, 2018	$	1,000		2.11%	$	1,000		1.84%
Three-month LIBOR plus 0.31%	June 15, 2018	900			1.96%	900			1.62%
Three-month LIBOR plus 0.50%	March 1, 2019	500			2.04%	500			1.76%
Three-month LIBOR plus 0.34%	September 20, 2019	500			2.01%	500			1.66%
Fixed-rate notes:
1.40%	February 28, 2018	1,250			1.47%	1,250			1.47%
1.65%	June 15, 2018	1,600			1.72%	1,600			1.72%
4.95%	February 15, 2019	2,000			5.04%	2,000			4.96%
1.60%	February 28, 2019	1,000			1.67%	1,000			1.67%
2.125%	March 1, 2019	1,750			2.18%	1,750			1.84%
1.40%	September 20, 2019	1,500			1.48%	1,500			1.48%
4.45%	January 15, 2020	2,500			4.11%	2,500			3.84%
2.45%	June 15, 2020	1,500			2.54%	1,500			2.54%
2.20%	February 28, 2021	2,500			2.30%	2,500			2.30%
2.90%	March 4, 2021	500			2.34%	500			2.00%
1.85%	September 20, 2021	2,000			1.90%	2,000			1.90%
3.00%	June 15, 2022	500			2.60%	500			2.26%
2.60%	February 28, 2023	500			2.68%	500			2.68%
2.20%	September 20, 2023	750			2.27%	750			2.27%
3.625%	March 4, 2024	1,000			2.46%	1,000			2.12%
3.50%	June 15, 2025	500			2.76%	500			2.43%
2.95%	February 28, 2026	750			3.01%	750			3.01%
2.50%	September 20, 2026	1,500			2.55%	1,500			2.55%
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%
Total		30,500				30,500
Unaccreted discount/issuance costs		(125		)		(136		)
Hedge accounting fair value adjustments		(1		)		108
Total		$	30,374			$	30,472
Reported as:
Current portion of long-term debt		$	4,749			$	4,747
Long-term debt		25,625				25,725
Total		$	30,374			$	30,472

Schedule of Principal Payments for Long-Term Debt

As of January 27, 2018, future principal payments for long-term debt, including the current portion, are summarized as follows (in millions):

Fiscal Year	Amount
2018 (remaining six months)	$	4,750
2019	5,250
2020	6,000
2021	3,000
2022	2,500
Thereafter	9,000
Total	$	30,500