XML 54 R42.htm IDEA: XBRL DOCUMENT v3.25.4
Derivative Instruments (Tables)
6 Months Ended
Jan. 24, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value of Derivative Instruments by Balance Sheet Line Item
The fair values of our derivative instruments and the line items on the Consolidated Balance Sheets to which they were recorded are summarized as follows (in millions):
 DERIVATIVE ASSETSDERIVATIVE LIABILITIES
 Balance Sheet Line ItemJanuary 24,
2026
July 26,
2025
Balance Sheet Line ItemJanuary 24,
2026
July 26,
2025
Derivatives designated as hedging instruments:
Foreign currency derivativesOther current assets$40 $17 Other current liabilities$$
Foreign currency derivativesOther assets43 10 Other long-term liabilities— 
Total83 27 
Derivatives not designated as hedging instruments:
Foreign currency derivativesOther current assetsOther current liabilities36 17 
Foreign currency derivativesOther assets— Other long-term liabilities43 10 
Total79 27 
Total$90 $32 $83 $31 
Effect of Derivative Instruments Not Designated as Fair Value Hedges on Consolidated Statements of Operations
The effect on the Consolidated Statements of Operations of derivative instruments not designated as hedges is summarized as follows (in millions):
  GAINS (LOSSES) FOR THE THREE MONTHS ENDEDGAINS (LOSSES) FOR THE SIX MONTHS ENDED
Derivatives Not Designated as Hedging InstrumentsLine Item in Statements of OperationsJanuary 24, 2026January 25, 2025January 24, 2026January 25, 2025
Foreign currency derivativesOther income (loss), net$(3)$(63)$(49)$(95)
Total return swaps—deferred compensationOperating expenses and other14 11 68 33 
Total$11 $(52)$19 $(62)
Schedule of Notional Amounts of Derivatives Outstanding
The notional amounts of our outstanding derivatives are summarized as follows (in millions):
January 24, 2026July 26, 2025
Foreign currency derivatives$8,518 $8,978 
Total return swaps—deferred compensation1,202 1,087 
Total$9,720 $10,065