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Leases (Tables)

9 Months Ended

May 01, 2021

The following table presents our operating lease balances (in millions):


	Balance Sheet Line Item	May 1, 2021		July 25, 2020
Operating lease right-of-use assets	Other assets	$	928	$	921

Operating lease liabilities	Other current liabilities	$	335	$	341
Operating lease liabilities	Other long-term liabilities	671		661
Total operating lease liabilities		$	1,006	$	1,002

Lease Expenses and Supplemental Information

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


	Three Months Ended				Nine Months Ended
	May 1, 2021		April 25, 2020		May 1, 2021		April 25, 2020
Operating lease expense	$	105	$	101	$	306	$	315
Short-term lease expense	14		18		49		51
Variable lease expense	42		37		131		116
Total lease expense	$	161	$	156	$	486	$	482

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


	Nine Months Ended
	May 1, 2021		April 25, 2020
Cash paid for amounts included in the measurement of lease liabilities — operating cash flows	$	306	$	309
Right-of-use assets obtained in exchange for operating leases liabilities	$	270	$	120

Maturities of Operating Leases

The maturities of our operating leases (undiscounted) as of May 1, 2021 are as follows (in millions):


Fiscal Year	Amount
2021 (remaining three months)	$	95
2022	321
2023	245
2024	161
2025	96
Thereafter	107
Total lease payments	1,025
Less interest	(19)
Total	$	1,006

Future Minimum Lease Payments on Lease Receivables

Future minimum lease payments on our lease receivables as of May 1, 2021 are summarized as follows (in millions):


Fiscal Year	Amount
2021 (remaining three months)	$	77
2022	727
2023	467
2024	272
2025	151
Thereafter	38
Total	1,732
Less: Present value of lease payments	1,642
Unearned income	$	90

Operating Lease Assets

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


	May 1, 2021		July 25, 2020
Operating lease assets	$	311	$	337
Accumulated depreciation	(187)		(198)
Operating lease assets, net	$	124	$	139

Minimum Future Rentals on Noncancelable Operating Leases

Minimum future rentals on noncancelable operating leases as of May 1, 2021 are summarized as follows (in millions):


Fiscal Year	Amount
2021 (remaining three months)	$	23
2022	46
2023	23
2024	5
Total	$	97