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Employee Benefit Plans (Tables)
 12 Months Ended
Jul. 27, 2019
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 RSUs granted to employees. The following table summarizes share-based compensation expense (in millions):
Years Ended
July 27, 2019
 
July 28, 2018
 
July 29, 2017
Cost of sales—product
$
90

 
$
94

 
$
85

Cost of sales—service
130

 
133

 
134

Share-based compensation expense in cost of sales
220

 
227

 
219

Research and development
540

 
538

 
529

Sales and marketing
519

 
555

 
542

General and administrative
250

 
246

 
236

Restructuring and other charges
62

 
33

 
3

Share-based compensation expense in operating expenses
1,371

 
1,372

 
1,310

Total share-based compensation expense
$
1,591

 
$
1,599

 
$
1,529

Income tax benefit for share-based compensation
$
542

 
$
558

 
$
451
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 27, 2019
 
July 28, 2018
 
July 29, 2017
Balance at beginning of fiscal year
245

 
272

 
242

Restricted stock, stock units, and other share-based awards granted
(67
)
 
(70
)
 
(76
)
Share-based awards canceled/forfeited/expired
18

 
18

 
78

Shares withheld for taxes and not issued
23

 
25

 
28

Other
1

 
—

 
—

Balance at end of fiscal year
220

 
245

 
272
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 RSUs, 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 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

 
 
Granted
46

 
35.62

 
 
Assumed from acquisitions
1

 
28.26

 
 
Vested
(53
)
 
26.02

 
$
1,909

Canceled/forfeited/other
(16
)
 
28.37

 
 
UNVESTED BALANCE AT JULY 28, 2018
119

 
30.56

 
 
Granted
45

 
47.71

 
 
Vested
(50
)
 
29.25

 
$
2,446

Canceled/forfeited/other
(14
)
 
32.01

 
 
UNVESTED BALANCE AT JULY 27, 2019
100

 
$
38.66

 
 
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 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

Assumed from acquisitions
3

 
8.20

Exercised
(8
)
 
5.77

Canceled/forfeited/expired
(1
)
 
8.75

BALANCE AT JULY 28, 2018
6

 
7.18

Exercised
(4
)
 
7.12

BALANCE AT JULY 27, 2019
2

 
$
6.94
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 27, 2019

July 28, 2018

July 29, 2017
Number of shares granted (in millions)
43


43


43

Grant date fair value per share
$
47.75


$
35.81


$
28.38

Weighted-average assumptions/inputs:
 
 
 
 
 
   Expected dividend yield
2.7
%

3.2
%

3.5
%
   Range of risk-free interest rates
0.0% – 2.9%


0.0% – 2.7%


0.0% – 1.5%


 
PERFORMANCE BASED RESTRICTED STOCK UNITS
Years Ended
July 27, 2019
 
July 28, 2018
 
July 29, 2017
Number of shares granted (in millions)
2

 
3

 
7

Grant date fair value per share
$
47.00

 
$
32.69

 
$
28.94

Weighted-average assumptions/inputs:
 
 
 
 
 
   Expected dividend yield
2.8
%
 
3.5
%
 
3.4
%
   Range of risk-free interest rates
2.1% – 3.0%

 
1.0% – 2.7%

 
0.1% – 1.5%

   Range of expected volatilities for index
13.0% - 65.2%

 
12.5% - 82.8%

 
16.7% – 46.8%
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 27, 2019
 
July 28, 2018
 
July 29, 2017
Weighted-average assumptions:
 
 
 
 
 
   Expected volatility
20.4
%
 
22.1
%
 
24.6
%
   Risk-free interest rate
1.9
%
 
1.3
%
 
0.7
%
   Expected dividend
3.0
%
 
3.1
%
 
3.2
%
   Expected life (in years)
1.3

 
1.3

 
1.3

Weighted-average estimated grant date fair value per share
$
9.06

 
$
7.48

 
$
6.52