Leases (Tables)

6 Months Ended

Jan. 24, 2026

Leases [Abstract]

Operating Lease Balances

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

	Balance Sheet Line Item	January 24, 2026		July 26, 2025
Operating lease right-of-use assets	Other assets	$	1,408	$	1,301
Operating lease liabilities	Other current liabilities	$	405	$	375
Operating lease liabilities	Other long-term liabilities	1,249		1,175
Total operating lease liabilities		$	1,654	$	1,550

Lease Expenses and Supplemental Information

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

	Three Months Ended				Six Months Ended
	January 24, 2026		January 25, 2025		January 24, 2026		January 25, 2025
Operating lease expense	$	132	$	149	$	263	$	263
Short-term lease expense	26		16		51		34
Variable lease expense	77		47		149		93
Total lease expense	$	235	$	212	$	463	$	390

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

	Six Months Ended
	January 24, 2026		January 25, 2025
Cash paid for amounts included in the measurement of lease liabilities — operating cash flows	$	259	$	228
Right-of-use assets obtained in exchange for operating leases liabilities	$	351	$	326

Maturities of Operating Leases

The maturities of our operating leases (undiscounted) as of January 24, 2026 are as follows (in millions):

Fiscal Year	Amount
2026 (remaining six months)	$	256
2027	385
2028	286
2029	228
2030	198
Thereafter	536
Total lease payments	1,889
Less: interest	(235)
Total	$	1,654

Future Minimum Lease Payments on Lease Receivables

Future minimum lease payments on our lease receivables as of January 24, 2026 are summarized as follows (in millions):

Fiscal Year	Amount
2026 (remaining six months)	$	157
2027	310
2028	125
2029	151
2030	144
Total	887
Less: Present value of lease payments	(795)
Unearned income	$	92