Leases (Tables)

9 Months Ended

Apr. 25, 2020

Leases [Abstract]

Lease Expenses and Supplemental Information

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

	April 25, 2020
	Three Months Ended		Nine Months Ended
Operating lease expense	$	101	$	315
Short-term lease expense	18		51
Variable lease expense	37		116
Total lease expense	$	156	$	482

Supplemental information related to our operating leases is as follows:

	Nine Months Ended
In millions:	April 25, 2020
Cash paid for amounts included in the measurement of lease liabilities — operating cash flows	$	309
Right-of-use assets obtained in exchange for operating leases liabilities	$	120

Maturities of Operating Leases

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

Fiscal Year	Amount
2020 (remaining three months)	$	100
2021	328
2022	221
2023	171
2024	104
Thereafter	109
Total lease payments	1,033
Less interest	(35		)
Total	$	998

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 April 25, 2020 are summarized as follows (in millions):

Fiscal Year	Amount
2020 (remaining three months)	$	207
2021	923
2022	517
2023	302
2024	149
Thereafter	71
Total	2,169
Less: Present value of lease payments	2,048
Difference between undiscounted cash flows and discounted cash flows	$	121

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

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):

	April 25, 2020			July 27, 2019
Operating lease assets	$	348		$	485
Accumulated depreciation	(197		)	(306		)
Operating lease assets, net	$	151		$	179

Minimum Future Rentals on Noncancelable Operating Leases

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

Fiscal Year	Amount
2020 (remaining three months)	$	30
2021	74
2022	28
2023	6
Total	$	138