Leases (Tables)

12 Months Ended

Jul. 26, 2025

Leases [Abstract]

Operating Lease Balances

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

	Balance Sheet Line Item	July 26, 2025		July 27, 2024
Operating lease ROU assets	Other assets	$	1,301	$	1,066
Operating lease liabilities	Other current liabilities	$	375	$	364
Operating lease liabilities	Other long-term liabilities	1,175		906
Total operating lease liabilities		$	1,550	$	1,270

Lease Expenses and Supplemental Information

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

Years Ended	July 26, 2025		July 27, 2024		July 29, 2023
Operating lease expense	$	495	$	420	$	425
Short-term lease expense	77		75		65
Variable lease expense	191		194		242
Total lease expense	$	763	$	689	$	732

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

Years Ended	July 26, 2025		July 27, 2024
Cash paid for amounts included in the measurement of lease liabilities — operating cash flows	$	457	$	394
ROU assets obtained in exchange for operating leases liabilities	$	660	$	459

Maturities of Operating Leases

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

Fiscal Year	Amount
2026	$	429
2027	322
2028	247
2029	200
2030	181
Thereafter	369
Total lease payments	1,748
Less interest	(198)
Total	$	1,550

Future Minimum Lease Payments on Lease Receivables

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

Fiscal Year	Amount
2026	$	342
2027	163
2028	234
2029	177
2030	34
Thereafter	32
Total	982
Less: Present value of lease payments	883
Unearned income	$	99

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 26, 2025		July 27, 2024
Operating lease assets	$	51	$	115
Accumulated depreciation	(17)		(61)
Operating lease assets, net	$	34	$	54

Minimum Future Rentals on Noncancelable Operating Leases

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

Fiscal Year	Amount
2026	$	16
2027	7
2028	2
Total	$	25