Leases (Tables)

9 Months Ended

Apr. 26, 2025

Leases [Abstract]

Operating Lease Balances

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

	Balance Sheet Line Item	April 26, 2025		July 27, 2024
Operating lease right-of-use assets	Other assets	$	1,219	1,066
Operating lease liabilities	Other current liabilities	$	350	$	364
Operating lease liabilities	Other long-term liabilities	1,114		906
Total operating lease liabilities		$	1,464	$	1,270

Lease Expenses and Supplemental Information

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

	Three Months Ended				Nine Months Ended
	April 26, 2025		April 27, 2024		April 26, 2025		April 27, 2024
Operating lease expense	$	115	$	101	$	378	$	304
Short-term lease expense	18		19		52		55
Variable lease expense	47		43		140		149
Total lease expense	$	180	$	163	$	570	$	508

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

	Nine Months Ended
	April 26, 2025		April 27, 2024
Cash paid for amounts included in the measurement of lease liabilities — operating cash flows	$	345	$	279
Right-of-use assets obtained in exchange for operating leases liabilities	$	483	$	307

Maturities of Operating Leases

The maturities of our operating leases (undiscounted) as of April 26, 2025 are as follows (in millions):

Fiscal Year	Amount
2025 (remaining three months)	$	113
2026	382
2027	292
2028	217
2029	175
Thereafter	470
Total lease payments	1,649
Less: interest	(185)
Total	$	1,464

Future Minimum Lease Payments on Lease Receivables

Future minimum lease payments on our lease receivables as of April 26, 2025 are summarized as follows (in millions):

Fiscal Year	Amount
2025 (remaining three months)	$	126
2026	552
2027	239
2028	41
2029	43
Thereafter	24
Total	1,025
Less: Present value of lease payments	(922)
Unearned income	$	103

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):

	April 26, 2025		July 27, 2024
Operating lease assets	$	50	$	115
Accumulated depreciation	(13)		(61)
Operating lease assets, net	$	37	$	54

Minimum Future Rentals on Noncancelable Operating Leases

Minimum future rentals on noncancelable operating leases as of April 26, 2025 are summarized as follows (in millions):

Fiscal Year	Amount
2025 (remaining three months)	$	5
2026	15
2027	7
Total	$	27