Employee Benefit Plans (Tables)

12 Months Ended

Jul. 29, 2023

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 29, 2023		July 30, 2022		July 31, 2021
Cost of sales—product	$	151	$	112	$	99
Cost of sales—service	245		199		176
Share-based compensation expense in cost of sales	396		311		275
Research and development	1,008		790		694
Sales and marketing	673		572		540
General and administrative	270		212		226
Restructuring and other charges	6		1		26
Share-based compensation expense in operating expenses	1,957		1,575		1,486
Total share-based compensation expense	$	2,353	$	1,886	$	1,761
Income tax benefit for share-based compensation	$	449	$	457	$	387

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 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
Granted and assumed	72	42.08
Vested	(39)	46.69		$	1,746
Canceled/forfeited/other	(8)	45.17
UNVESTED BALANCE AT JULY 29, 2023	122	$	44.04

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 29, 2023			July 30, 2022			July 31, 2021
Number of shares granted (in millions)	70			50			48
Grant date fair value per share	$	42.13		$	49.68		$	42.04
Weighted-average assumptions/inputs:
Expected dividend yield	3.4		%	2.9		%	3.3		%
Range of risk-free interest rates	3.7% – 5.7%			0.0% – 3.0%			0.0% – 0.9%

	PERFORMANCE BASED RESTRICTED STOCK UNITS
Years Ended	July 29, 2023		July 30, 2022			July 31, 2021
Number of shares granted (in millions)	2		2			2
Grant date fair value per share	$	40.44	$	59.64		$	37.91
Weighted-average assumptions/inputs:
Expected dividend yield	N/A		0.4		%	3.6		%
Range of risk-free interest rates	N/A		0.0% – 0.7%			0.1% – 0.4%

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 29, 2023			July 30, 2022			July 31, 2021
Weighted-average assumptions:
Expected volatility	28.7		%	27.9		%	29.2		%
Risk-free interest rate	2.8		%	0.1		%	0.3		%
Expected dividend	3.6		%	3.2		%	3.2		%
Expected life (in years)	1.2			1.2			1.3
Weighted-average estimated grant date fair value per share	$	12.40		$	12.90		$	12.46