Restructuring and Other Charges

6 Months Ended

Jan. 24, 2026

In the first quarter of fiscal 2025, we announced a restructuring plan (the “Fiscal 2025 Plan”), in order to allow us to invest in key growth opportunities and drive more efficiencies in our business. In connection with the Fiscal 2025 Plan, we incurred charges of $36 million and $183 million in the second quarter and first six months of fiscal 2026. These aggregate pre-tax charges were primarily cash-based and consisted of severance and other one-time termination benefits, and other costs. In connection with the Fiscal 2025 Plan, we incurred cumulative charges of $927 million and completed the plan in the second quarter of fiscal 2026.

The following table summarizes the activities related to our restructuring liability, which was included in other current liabilities on our Consolidated Balance Sheets (in millions):


	FISCAL 2025 PLAN
	Employee Severance		Other		Total
Liability as of July 26, 2025	$	66	$	46	$	112
Charges	142		41		183
Cash payments	(143)		(25)		(168)
Non-cash and other	(1)		(38)		(39)
Liability as of January 24, 2026	$	64	$	24	$	88