Leases (Tables)

12 Months Ended

Jul. 25, 2020

Leases [Abstract]

Lease Expenses and Supplemental Information

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

Year Ended	July 25, 2020
Operating lease expense	$	428
Short-term lease expense	69
Variable lease expense	157
Total lease expense	$	654

Supplemental information related to our operating leases is as follows (in millions):

Year Ended	July 25, 2020
Cash paid for amounts included in the measurement of lease liabilities — operating cash flows	$	413
Right-of-use assets obtained in exchange for operating leases liabilities	$	197

Maturities of Operating Leases

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

Fiscal Year	Amount
2021	$	354
2022	247
2023	192
2024	120
2025	68
Thereafter	52
Total lease payments	1,033
Less interest	(31		)
Total	$	1,002

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

Fiscal Year	Amount
2021	$	946
2022	590
2023	353
2024	166
2025	72
Total	2,127
Less: Present value of lease payments	2,013
Difference between undiscounted cash flows and discounted cash flows	$	114

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):

	July 25, 2020			July 27, 2019
Operating lease assets	$	337		$	485
Accumulated depreciation	(198		)	(306		)
Operating lease assets, net	$	139		$	179

Minimum Future Rentals on Noncancelable Operating Leases

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

Fiscal Year	Amount
2021	$	74
2022	27
2023	7
Total	$	108