Borrowings (Tables)

9 Months Ended

Apr. 25, 2020

Debt Disclosure [Abstract]

Schedule of Short-Term Debt

The following table summarizes our short-term debt (in millions, except percentages):

	April 25, 2020				July 27, 2019
	Amount		Effective Rate		Amount		Effective Rate
Current portion of long-term debt	$	4,506	2.32	%	$	5,998	3.20	%
Commercial paper	—		—		4,193		2.34	%
Total short-term debt	$	4,506			$	10,191

Schedule of Long-Term Debt

The following table summarizes our long-term debt (in millions, except percentages):

		April 25, 2020				July 27, 2019
	Maturity Date	Amount			Effective Rate	Amount			Effective Rate
Senior notes:
Floating-rate notes:
Three-month LIBOR plus 0.34%	September 20, 2019	$	—		—	$	500		2.77%
Fixed-rate notes:
1.40%	September 20, 2019	—			—	1,500			1.48%
4.45%	January 15, 2020	—			—	2,500			4.72%
2.45%	June 15, 2020	1,500			2.54%	1,500			2.54%
2.20%	February 28, 2021	2,500			2.30%	2,500			2.30%
2.90%	March 4, 2021	500			1.76%	500			3.14%
1.85%	September 20, 2021	2,000			1.90%	2,000			1.90%
3.00%	June 15, 2022	500			1.85%	500			3.36%
2.60%	February 28, 2023	500			2.68%	500			2.68%
2.20%	September 20, 2023	750			2.27%	750			2.27%
3.625%	March 4, 2024	1,000			1.87%	1,000			3.25%
3.50%	June 15, 2025	500			2.01%	500			3.52%
2.95%	February 28, 2026	750			3.01%	750			3.01%
2.50%	September 20, 2026	1,500			2.55%	1,500			2.55%
5.90%	February 15, 2039	2,000			6.11%	2,000			6.11%
5.50%	January 15, 2040	2,000			5.67%	2,000			5.67%
Total		16,000				20,500
Unaccreted discount/issuance costs		(90		)		(100		)
Hedge accounting fair value adjustments		174				73
Total		$	16,084			$	20,473
Reported as:
Current portion of long-term debt		$	4,506			$	5,998
Long-term debt		11,578				14,475
Total		$	16,084			$	20,473

Schedule of Principal Payments for Long-Term Debt

As of April 25, 2020, future principal payments for long-term debt, including the current portion, are summarized as follows (in millions):

Fiscal Year	Amount
2020 (remaining three months)	$	1,500
2021	3,000
2022	2,500
2023	500
2024	1,750
Thereafter	6,750
Total	$	16,000