XML 58 R41.htm IDEA: XBRL DOCUMENT v3.20.2
Available-for-Sale Debt and Equity Investments (Tables)
 12 Months Ended
Jul. 25, 2020
Investments, Debt and Equity Securities [Abstract]  
Summary of Available-for-Sale Debt Investments and Equity Investments
The following table summarizes our available-for-sale debt investments and equity investments (in millions):
 
July 25, 2020
 
July 27, 2019
Available-for-sale debt investments
$
17,610

 
$
21,660

Marketable equity securities
—

 
3

Total investments
17,610

 
21,663

Non-marketable equity securities included in other assets
1,207

 
1,113

Equity method investments included in other assets
71

 
87

Total
$
18,888

 
$
22,863
Summary of Available-for-Sale Investments
The following tables summarize our available-for-sale debt investments (in millions):
July 25, 2020
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
U.S. government securities
$
2,614

 
$
71

 
$
—

 
$
2,685

U.S. government agency securities
110

 
—

 
—

 
110

Corporate debt securities
11,549

 
334

 
(6
)
 
11,877

U.S. agency mortgage-backed securities
1,987

 
49

 
(1
)
 
2,035

Commercial paper
727

 
—

 
—

 
727

Certificates of deposit
176

 
—

 
—

 
176

Total
$
17,163

 
$
454

 
$
(7
)
 
$
17,610


July 27, 2019
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
U.S. government securities
$
808

 
$
1

 
$
(1
)
 
$
808

U.S. government agency securities
169

 
—

 
—

 
169

Corporate debt securities
19,188

 
103

 
(29
)
 
19,262

U.S. agency mortgage-backed securities
1,425

 
7

 
(11
)
 
1,421

Total
$
21,590

 
$
111

 
$
(41
)
 
$
21,660
Gross Realized Gains and Gross Realized Losses Related to Available-for-Sale Investment
The following table presents the gross realized gains and gross realized losses related to available-for-sale debt investments (in millions):
Years Ended
July 25, 2020
 
July 27, 2019
 
July 28, 2018
Gross realized gains
$
70

 
$
17

 
$
16

Gross realized losses
(28
)
 
(30
)
 
(258
)
Total
$
42

 
$
(13
)
 
$
(242
)
Available-for-Sale Investments with Gross Unrealized Losses
The following tables present the breakdown of the available-for-sale debt investments with gross unrealized losses and the duration that those losses had been unrealized at July 25, 2020 and July 27, 2019 (in millions):
 
UNREALIZED LOSSES
LESS THAN 12 MONTHS
 
UNREALIZED LOSSES
12 MONTHS OR GREATER
 
TOTAL
July 25, 2020
Fair Value
 
Gross
Unrealized
Losses
 
Fair Value
 
Gross
Unrealized
Losses
 
Fair Value
 
Gross 
Unrealized 
Losses
U.S. government agency securities
$
33

 
$
—

 
$
—

 
$
—

 
$
33

 
$
—

Corporate debt securities
1,060

 
(6
)
 
3

 
—

 
1,063

 
(6
)
U.S. agency mortgage-backed securities
265

 
(1
)
 
—

 
—

 
265

 
(1
)
Total
$
1,358

 
$
(7
)

$
3


$
—


$
1,361


$
(7
)
 
UNREALIZED LOSSES
LESS THAN 12 MONTHS
 
UNREALIZED LOSSES
12 MONTHS OR GREATER
 
TOTAL
July 27, 2019
Fair Value
 
Gross
Unrealized
Losses
 
Fair Value
 
Gross
Unrealized
Losses
 
Fair Value
 
Gross 
Unrealized 
Losses
U.S. government securities 
$
204

 
$
—

 
$
488

 
$
(1
)
 
$
692

 
$
(1
)
U.S. government agency securities
—

 
—

 
169

 
—

 
169

 
—

Corporate debt securities
2,362

 
(4
)
 
5,271

 
(25
)
 
7,633

 
(29
)
U.S. agency mortgage-backed securities
123

 
—

 
847

 
(11
)
 
970

 
(11
)
Total
$
2,689

 
$
(4
)
 
$
6,775

 
$
(37
)
 
$
9,464

 
$
(41
)
Maturities of Fixed Income Securities
The following table summarizes the maturities of our available-for-sale debt investments as of July 25, 2020 (in millions): 
 
Amortized Cost
 
Fair Value
Within 1 year
$
5,773

 
$
5,812

After 1 year through 5 years
7,360

 
7,532

After 5 years through 10 years
2,032

 
2,218

After 10 years
11

 
13

Mortgage-backed securities with no single maturity
1,987

 
2,035

Total
$
17,163

 
$
17,610
Summary of Gains and Losses and Adjustments to Carrying Value of Equity Securities
Gains and losses recognized on our marketable and non-marketable equity securities are summarized below (in millions):
 
July 25, 2020
 
July 27, 2019
Net gains and losses recognized during the period on equity investments
$
63

 
$
58

Less: Net gains and losses recognized on equity investments sold
(76
)
 
(69
)
Net unrealized gains and losses recognized during reporting period on equity securities still held at the reporting date
$
(13
)
 
$
(11
)
We recorded adjustments to the carrying value of our non-marketable equity securities measured using the measurement alternative as follows (in millions):
 
July 25, 2020
 
July 27, 2019
Adjustments to non-marketable equity securities measured using the measurement alternative:
 
 
 
Upward adjustments
$
28

 
$
26

Downward adjustments, including impairments
(41
)
 
(57
)
Net adjustments
$
(13
)
 
$
(31
)