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Leases (Tables)

3 Months Ended

Oct. 26, 2024

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


	Balance Sheet Line Item	October 26, 2024		July 27, 2024
Operating lease right-of-use assets	Other assets	$	1,092	1,066

Operating lease liabilities	Other current liabilities	$	357	$	364
Operating lease liabilities	Other long-term liabilities	938		906
Total operating lease liabilities		$	1,295	$	1,270

Lease Expenses and Supplemental Information

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


	Three Months Ended
	October 26, 2024		October 28, 2023
Operating lease expense	$	114	$	100
Short-term lease expense	18		11
Variable lease expense	46		56
Total lease expense	$	178	$	167

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


	Three Months Ended
	October 26, 2024		October 28, 2023
Cash paid for amounts included in the measurement of lease liabilities — operating cash flows	$	114	$	88
Right-of-use assets obtained in exchange for operating leases liabilities	$	127	$	126

Maturities of Operating Leases

The maturities of our operating leases (undiscounted) as of October 26, 2024 are as follows (in millions):


Fiscal Year	Amount
2025 (remaining nine months)	$	319
2026	323
2027	235
2028	161
2029	128
Thereafter	285
Total lease payments	1,451
Less: interest	(156)
Total	$	1,295

Future Minimum Lease Payments on Lease Receivables

Future minimum lease payments on our lease receivables as of October 26, 2024 are summarized as follows (in millions):


Fiscal Year	Amount
2025 (remaining nine months)	$	285
2026	409
2027	128
2028	78
2029	73
Thereafter	83
Total	1,056
Less: Present value of lease payments	(949)
Unearned income	$	107

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):


	October 26, 2024		July 27, 2024
Operating lease assets	$	88	$	115
Accumulated depreciation	(48)		(61)
Operating lease assets, net	$	40	$	54

Minimum Future Rentals on Noncancelable Operating Leases

Minimum future rentals on noncancelable operating leases as of October 26, 2024 are summarized as follows (in millions):


Fiscal Year	Amount
2025 (remaining nine months)	$	13
2026	12
2027	3
Total	$	28