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Derivative Instruments (Tables)
12 Months Ended
Jul. 28, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives Recorded at Fair Value
The fair values of our 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
 
July 28, 2018
 
July 29, 2017
 
Balance Sheet Line Item
 
July 28, 2018
 
July 29, 2017
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
Foreign currency derivatives
Other current assets
 
$
1

 
$
46

 
Other current liabilities
 
$

 
$
1

Interest rate derivatives
Other current assets
 

 

 
Other current liabilities
 
10

 

Interest rate derivatives
Other assets
 

 
102

 
Other long-term liabilities
 
62

 

Total
 
 
1

 
148

 
 
 
72

 
1

Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
Foreign currency derivatives
Other current assets
 
1

 
1

 
Other current liabilities
 
2

 
3

Total
 
 
1

 
1

 
 
 
2

 
3

Total
 
 
$
2

 
$
149

 
 
 
$
74

 
$
4

Gains and Losses on Derivatives Designated as Cash Flow Hedges
The effects of our 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 YEARS ENDED (EFFECTIVE PORTION)
 
GAINS (LOSSES) RECLASSIFIED FROM
AOCI INTO INCOME FOR
THE YEARS ENDED (EFFECTIVE PORTION)
 
 
July 28, 2018
 
July 29, 2017
 
July 30, 2016
 
Line Item in Statements of Operations
 
July 28, 2018
 
July 29, 2017
 
July 30, 2016
Derivatives designated as cash flow hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign currency derivatives
 
$
20

 
$
22

 
$
(66
)
 
Operating expenses
 
$
52

 
$
(59
)
 
$
(15
)
 
 
 
 
 
 
 
 
Cost of sales service
 
16

 
(20
)
 
(5
)
Total
 
$
20

 
$
22

 
$
(66
)
 
Total
 
$
68

 
$
(79
)
 
$
(20
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives designated as net investment hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign currency derivatives
 
$
(1
)
 
$
(15
)
 
$
16

 
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 YEARS ENDED
 
GAINS (LOSSES) RELATED TO HEDGED ITEMS FOR THE YEARS ENDED
Derivatives Designated as Fair Value Hedging Instruments
 
Line Item in Statements of Operations
 
July 28, 2018
 
July 29, 2017
 
July 30, 2016
 
July 28, 2018
 
July 29, 2017
 
July 30, 2016
Interest rate derivatives
 
Interest expense
 
$
(174
)
 
$
(275
)
 
$
175

 
$
173

 
$
271

 
$
(169
)
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 YEARS ENDED
Derivatives Not Designated as Hedging Instruments
 
Line Item in Statements of Operations
 
July 28, 2018
 
July 29, 2017
 
July 30, 2016
Foreign currency derivatives
 
Other income (loss), net
 
$
(24
)
 
$
13

 
$
(19
)
Total return swaps—deferred compensation
 
Operating expenses
 
50

 
53

 
6

 
 
Cost of sales — product
 
1

 
2

 

 
 
Cost of sales service
 
3

 
3

 
1

 
 
Other income (loss), net
 
(11
)
 

 

Equity derivatives
 
Other income (loss), net
 
(4
)
 
11

 
13

Total
 
 
 
$
15

 
$
82

 
$
1

Schedule of Notional Amounts of Derivatives Outstanding
The notional amounts of our outstanding derivatives are summarized as follows (in millions):
 
July 28, 2018
 
July 29, 2017
Derivatives designated as hedging instruments:
 
 
 
Foreign currency derivatives—cash flow hedges
$
147

 
$
1,696

Interest rate derivatives
6,750

 
6,750

Net investment hedging instruments
250

 
351

Derivatives not designated as hedging instruments:
 
 
 
Foreign currency derivatives
2,298

 
2,258

Total return swaps—deferred compensation
566

 
535

Total
$
10,011

 
$
11,590

Offsetting of Derivatives
Information related to these offsetting arrangements is summarized as follows (in millions):
 
GROSS AMOUNTS OFFSET IN THE CONSOLIDATED BALANCE SHEET
 
GROSS AMOUNTS NOT OFFSET IN THE CONSOLIDATED BALANCE SHEET
BUT WITH LEGAL RIGHTS TO OFFSET
July 28, 2018
Gross Amounts Recognized
 
Gross Amounts Offset
 
Net Amounts Presented
 
Gross Derivative Amounts
 
Cash Collateral
 
Net Amount
Derivatives assets
$
2

 
$

 
$
2

 
$
(2
)
 
$

 
$

Derivatives liabilities
$
74

 
$

 
$
74

 
$
(2
)
 
$
(53
)
 
$
19

 
GROSS AMOUNTS OFFSET IN THE CONSOLIDATED BALANCE SHEET
 
GROSS AMOUNTS NOT OFFSET IN THE CONSOLIDATED BALANCE SHEET
BUT WITH LEGAL RIGHTS TO OFFSET
July 29, 2017
Gross Amounts Recognized
 
Gross Amounts Offset
 
Net Amounts Presented
 
Gross Derivative Amounts
 
Cash Collateral
 
Net Amount
Derivatives assets
$
149

 
$

 
$
149

 
$
(4
)
 
$
(81
)
 
$
64

Derivatives liabilities
$
4

 
$

 
$
4

 
$
(4
)
 
$

 
$