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Leases (Tables)

6 Months Ended

Jan. 25, 2025

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


	Balance Sheet Line Item	January 25, 2025		July 27, 2024
Operating lease right-of-use assets	Other assets	$	1,134	1,066

Operating lease liabilities	Other current liabilities	$	362	$	364
Operating lease liabilities	Other long-term liabilities	1,015		906
Total operating lease liabilities		$	1,377	$	1,270

Lease Expenses and Supplemental Information

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


	Three Months Ended				Six Months Ended
	January 25, 2025		January 27, 2024		January 25, 2025		January 27, 2024
Operating lease expense	$	149	$	103	$	263	$	203
Short-term lease expense	16		25		34		36
Variable lease expense	47		50		93		106
Total lease expense	$	212	$	178	$	390	$	345

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


	Six Months Ended
	January 25, 2025		January 27, 2024
Cash paid for amounts included in the measurement of lease liabilities — operating cash flows	$	228	$	178
Right-of-use assets obtained in exchange for operating leases liabilities	$	326	$	182

Maturities of Operating Leases

The maturities of our operating leases (undiscounted) as of January 25, 2025 are as follows (in millions):


Fiscal Year	Amount
2025 (remaining six months)	$	213
2026	345
2027	257
2028	190
2029	152
Thereafter	402
Total lease payments	1,559
Less: interest	(182)
Total	$	1,377

Future Minimum Lease Payments on Lease Receivables

Future minimum lease payments on our lease receivables as of January 25, 2025 are summarized as follows (in millions):


Fiscal Year	Amount
2025 (remaining six months)	$	229
2026	407
2027	144
2028	102
2029	101
Thereafter	5
Total	988
Less: Present value of lease payments	(886)
Unearned income	$	102

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):


	January 25, 2025		July 27, 2024
Operating lease assets	$	77	$	115
Accumulated depreciation	(49)		(61)
Operating lease assets, net	$	28	$	54

Minimum Future Rentals on Noncancelable Operating Leases

Minimum future rentals on noncancelable operating leases as of January 25, 2025 are summarized as follows (in millions):


Fiscal Year	Amount
2025 (remaining six months)	$	8
2026	13
2027	5
Total	$	26