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Leases (Tables)

12 Months Ended

Jul. 27, 2024

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


	Balance Sheet Line Item	July 27, 2024		July 29, 2023
Operating lease right-of-use assets	Other assets	$	1,066	$	971

Operating lease liabilities	Other current liabilities	$	364	$	313
Operating lease liabilities	Other long-term liabilities	906		707
Total operating lease liabilities		$	1,270	$	1,020

Lease Expenses and Supplemental Information

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


Years Ended	July 27, 2024		July 29, 2023		July 30, 2022
Operating lease expense	$	420	$	425	$	390
Short-term lease expense	75		65		66
Variable lease expense	194		242		173
Total lease expense	$	689	$	732	$	629

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


Years Ended	July 27, 2024		July 29, 2023
Cash paid for amounts included in the measurement of lease liabilities — operating cash flows	$	394	$	387
Right-of-use assets obtained in exchange for operating leases liabilities	$	459	$	326

Maturities of Operating Leases

The maturities of our operating leases (undiscounted) as of July 27, 2024 are as follows (in millions):


Fiscal Year	Amount
2025	$	409
2026	295
2027	207
2028	144
2029	112
Thereafter	253
Total lease payments	1,420
Less interest	(150)
Total	$	1,270

Future Minimum Lease Payments on Lease Receivables

Future minimum lease payments on our lease receivables as of July 27, 2024 are summarized as follows (in millions):


Fiscal Year	Amount
2025	$	314
2026	246
2027	156
2028	146
2029	97
Thereafter	6
Total	965
Less: Present value of lease payments	854
Unearned income	$	111

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):


	July 27, 2024		July 29, 2023
Operating lease assets	$	115	$	135
Accumulated depreciation	(61)		(78)
Operating lease assets, net	$	54	$	57

Minimum Future Rentals on Noncancelable Operating Leases

Minimum future rentals on noncancelable operating leases as of July 27, 2024 are summarized as follows (in millions):


Fiscal Year	Amount
2025	$	22
2026	14
2027	3
Total	$	39