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Leases (Tables)

9 Months Ended

Apr. 30, 2022

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


	Balance Sheet Line Item	April 30, 2022		July 31, 2021
Operating lease right-of-use assets	Other assets	$	1,024	$	1,095

Operating lease liabilities	Other current liabilities	$	334	$	337
Operating lease liabilities	Other long-term liabilities	739		831
Total operating lease liabilities		$	1,073	$	1,168

Lease Expenses and Supplemental Information

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


	Three Months Ended				Nine Months Ended
	April 30, 2022		May 1, 2021		April 30, 2022		May 1, 2021
Operating lease expense	$	99	$	105	$	292	$	306
Short-term lease expense	17		14		49		49
Variable lease expense	37		42		127		131
Total lease expense	$	153	$	161	$	468	$	486

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


	Nine Months Ended
	April 30, 2022		May 1, 2021
Cash paid for amounts included in the measurement of lease liabilities — operating cash flows	$	306	$	306
Right-of-use assets obtained in exchange for operating leases liabilities	$	237	$	270

Maturities of Operating Leases

The maturities of our operating leases (undiscounted) as of April 30, 2022 are as follows (in millions):


Fiscal Year	Amount
2022 (remaining three months)	$	99
2023	328
2024	242
2025	166
2026	92
Thereafter	216
Total lease payments	1,143
Less interest	(70)
Total	$	1,073

Future Minimum Lease Payments on Lease Receivables

Future minimum lease payments on our lease receivables as of April 30, 2022 are summarized as follows (in millions):


Fiscal Year	Amount
2022 (remaining three months)	$	249
2023	502
2024	317
2025	154
2026	65
Thereafter	17
Total	1,304
Less: Present value of lease payments	1,245
Unearned income	$	59

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):


	April 30, 2022		July 31, 2021
Operating lease assets	$	205	$	273
Accumulated depreciation	(119)		(165)
Operating lease assets, net	$	86	$	108

Minimum Future Rentals on Noncancelable Operating Leases

Minimum future rentals on noncancelable operating leases as of April 30, 2022 are summarized as follows (in millions):


Fiscal Year	Amount
2022 (remaining three months)	$	11
2023	32
2024	15
2025	4
Total	$	62