Employee Benefit Plans (Tables)

12 Months Ended

Jul. 30, 2022

Retirement Benefits [Abstract]

Summary of Share-Based Compensation Expense

Share-based compensation expense consists primarily of expenses for RSUs, stock purchase rights, and stock options, granted to employees or assumed from acquisitions. The following table summarizes share-based compensation expense (in millions):

Years Ended	July 30, 2022		July 31, 2021		July 25, 2020
Cost of sales—product	$	112	$	99	$	93
Cost of sales—service	199		176		144
Share-based compensation expense in cost of sales	311		275		237
Research and development	790		694		592
Sales and marketing	572		540		500
General and administrative	212		226		215
Restructuring and other charges	1		26		25
Share-based compensation expense in operating expenses	1,575		1,486		1,332
Total share-based compensation expense	$	1,886	$	1,761	$	1,569
Income tax benefit for share-based compensation	$	457	$	387	$	452

Summary of Restricted Stock and Stock Unit Activity

A summary of the restricted stock and stock unit activity, which includes time-based and performance-based or market-based RSUs, is as follows (in millions, except per-share amounts):

	Restricted Stock/ Stock Units	Weighted-Average Grant Date Fair Value per Share		Aggregate Fair  Value
UNVESTED BALANCE AT JULY 27, 2019	100	$	38.66
Granted and assumed	49	42.61
Vested	(44)	35.20		$	2,045
Canceled/forfeited/other	(9)	40.45
UNVESTED BALANCE AT JULY 25, 2020	96	42.03
Granted and assumed	51	41.89
Vested	(39)	39.63		$	1,813
Canceled/forfeited/other	(14)	42.13
UNVESTED BALANCE AT JULY 31, 2021	94	42.93
Granted and assumed	52	50.06
Vested	(37)	42.27		$	1,979
Canceled/forfeited/other	(12)	45.63
UNVESTED BALANCE AT JULY 30, 2022	97	$	46.67

Schedule of Valuation Assumptions for Time-based RSUs and PRSUs

The assumptions for the valuation of time-based RSUs and PRSUs are summarized as follows:

	RESTRICTED STOCK UNITS
Years Ended	July 30, 2022			July 31, 2021			July 25, 2020
Number of shares granted (in millions)	50			48			47
Grant date fair value per share	$	49.68		$	42.04		$	42.68
Weighted-average assumptions/inputs:
Expected dividend yield	2.9		%	3.3		%	3.1		%
Range of risk-free interest rates	0.0% – 3.0%			0.0% – 0.9%			0.0% – 2.0%

	PERFORMANCE BASED RESTRICTED STOCK UNITS
Years Ended	July 30, 2022			July 31, 2021			July 25, 2020
Number of shares granted (in millions)	2			2			2
Grant date fair value per share	$	59.64		$	37.91		$	41.91
Weighted-average assumptions/inputs:
Expected dividend yield	0.4		%	3.6		%	2.8		%
Range of risk-free interest rates	0.0% – 0.7%			0.1% – 0.4%			1.7% – 2.0%

Schedule of Valuation Assumptions for Employee Stock Purchase Rights

The assumptions for the valuation of employee stock purchase rights are summarized as follows:

	EMPLOYEE STOCK PURCHASE RIGHTS
Years Ended	July 30, 2022			July 31, 2021			July 25, 2020
Weighted-average assumptions:
Expected volatility	27.9		%	29.2		%	22.2		%
Risk-free interest rate	0.1		%	0.3		%	1.8		%
Expected dividend	3.2		%	3.2		%	3.0		%
Expected life (in years)	1.2			1.3			1.3
Weighted-average estimated grant date fair value per share	$	12.90		$	12.46		$	10.20