Employee Benefit Plans (Tables)

12 Months Ended

Jul. 27, 2024

Retirement Benefits [Abstract]

Summary of Share-Based Compensation Expense

Share-based compensation expense consists 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 27, 2024		July 29, 2023		July 30, 2022
Cost of sales—product	$	214	$	151	$	112
Cost of sales—services	300		245		199
Share-based compensation expense in cost of sales	514		396		311
Research and development	1,316		1,008		790
Sales and marketing	846		673		572
General and administrative	375		270		212
Restructuring and other charges	23		6		1
Share-based compensation expense in operating expenses	2,560		1,957		1,575
Total share-based compensation expense	$	3,074	$	2,353	$	1,886
Income tax benefit for share-based compensation	$	696	$	449	$	457

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 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
Granted and assumed	63	48.97
Vested	(58)	43.46		$	2,906
Canceled/forfeited/other	(10)	45.65
UNVESTED BALANCE AT JULY 27, 2024	117	$	46.86

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 27, 2024			July 29, 2023			July 30, 2022
Number of shares granted (in millions)	60			70			50
Grant date fair value per share	$	48.71		$	42.13		$	49.68
Weighted-average assumptions/inputs:
Expected dividend yield	3.0		%	3.4		%	2.9		%
Range of risk-free interest rates	4.2% – 5.6%			3.7% – 5.7%			0.0% – 3.0%

	PERFORMANCE BASED RESTRICTED STOCK UNITS
Years Ended	July 27, 2024		July 29, 2023		July 30, 2022
Number of shares granted (in millions)	3		2		2
Grant date fair value per share	$	59.31	$	40.44	$	59.64
Weighted-average assumptions/inputs:
Expected dividend yield	N/A		N/A		0.4		%
Range of risk-free interest rates	N/A		N/A		0.0% – 0.7%

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 27, 2024			July 29, 2023			July 30, 2022
Weighted-average assumptions:
Expected volatility	28.3		%	28.7		%	27.9		%
Risk-free interest rate	2.9		%	2.8		%	0.1		%
Expected dividend	3.5		%	3.6		%	3.2		%
Expected life (in years)	1.2			1.2			1.2
Weighted-average estimated grant date fair value per share	$	11.59		$	12.40		$	12.90