Leases (Tables)

6 Months Ended

Jan. 25, 2020

Leases [Abstract]

Lease Expenses and Supplemental Information

The components of our lease expenses were as follows (in millions):

	January 25, 2020
	Three Months Ended		Six Months Ended
Operating lease expense	$	101	$	214
Short-term lease expense	16		33
Variable lease expense	39		79
Total lease expense	$	156	$	326

Supplemental information related to our operating leases is as follows:

	Six Months Ended
In millions:	January 25, 2020
Cash paid for amounts included in the measurement of lease liabilities — operating cash flows	$	206
Right-of-use assets obtained in exchange for operating leases liabilities	$	77

Maturities of Operating Leases

The maturities of our operating leases (undiscounted) as of January 25, 2020 are as follows (in millions):

Fiscal Year	Amount
2020 (remaining six months)	$	204
2021	316
2022	216
2023	166
2024	104
Thereafter	111
Total lease payments	1,117
Less interest	(39		)
Total	$	1,078

Future Minimum Lease Payments, Prior to Adoption of New Leasing Standard

Prior to the adoption of the new leasing standard, future minimum lease payments under all noncancelable operating leases with an initial term in excess of one year as of July 27, 2019 were as follows (in millions):

Fiscal Year	Amount
2020	$	441
2021	299
2022	195
2023	120
2024	70
Thereafter	54
Total	$	1,179

Future Minimum Lease Payments on Lease Receivables

Future minimum lease payments on our lease receivables as of January 25, 2020 are summarized as follows (in millions):

Fiscal Year	Amount
2020 (remaining six months)	$	438
2021	882
2022	479
2023	267
2024	123
Thereafter	58
Total	2,247
Less: Present value of lease payments	2,117
Difference between undiscounted cash flows and discounted cash flows	$	130

Future Minimum Lease Payments on Lease Receivables

Prior to the adoption of the new leasing standard, future minimum lease payments on our lease receivables as of July 27, 2019 were summarized as follows (in millions):

Fiscal Year	Amount
2020	$	1,028
2021	702
2022	399
2023	185
2024	53
Total	$	2,367

Operating Lease Assets

Amounts relating to equipment on operating lease assets held by Cisco and the associated accumulated depreciation are summarized as follows (in millions):

	January 25, 2020			July 27, 2019
Operating lease assets	$	411		$	485
Accumulated depreciation	(247		)	(306		)
Operating lease assets, net	$	164		$	179

Minimum Future Rentals on Noncancelable Operating Leases

Minimum future rentals on noncancelable operating leases as of January 25, 2020 are summarized as follows (in millions):

Fiscal Year	Amount
2020 (remaining six months)	$	61
2021	70
2022	24
2023	4
Total	$	159