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Derivative Instruments (Tables)

12 Months Ended

Jul. 28, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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	)	$	—		$	—