Derivative Instruments (Tables)
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3 Months Ended |
Oct. 29, 2016 |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] |
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| Derivatives Recorded At Fair Value |
The fair values of the Company’s derivative instruments and the line items on the Consolidated Balance Sheets to which they were recorded are summarized as follows (in millions): | | | | | | | | | | | | | | | | | | | | | | DERIVATIVE ASSETS | | DERIVATIVE LIABILITIES | | Balance Sheet Line Item | | October 29,
2016 | | July 30,
2016 | | Balance Sheet Line Item | | October 29,
2016 | | July 30,
2016 | Derivatives designated as hedging instruments: | | | | | | | | | | | | Foreign currency derivatives | Other current assets | | $ | 5 |
| | $ | 7 |
| | Other current liabilities | | $ | 83 |
| | $ | 53 |
| Interest rate derivatives | Other current assets | | 6 |
| | 11 |
| | Other current liabilities | | — |
| | — |
| Interest rate derivatives | Other assets | | 280 |
| | 366 |
| | Other long-term liabilities | | — |
| | — |
| Total | | | 291 |
| | 384 |
| | | | 83 |
| | 53 |
| Derivatives not designated as hedging instruments: | | | | | | | | | | | | Foreign currency derivatives | Other current assets | | 1 |
| | — |
| | Other current liabilities | | 2 |
| | 1 |
| Equity derivatives/warrants | Other assets | | — |
| | 1 |
| | Other long-term liabilities | | — |
| | — |
| Total | | | 1 |
| | 1 |
| | | | 2 |
| | 1 |
| Total | | | $ | 292 |
| | $ | 385 |
| | | | $ | 85 |
| | $ | 54 |
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| Gains And Losses On Derivatives Designated As Cash Flow Hedges |
The effects of the Company’s cash flow and net investment hedging instruments on other comprehensive income (OCI) and the Consolidated Statements of Operations are summarized as follows (in millions): | | | | | | | | | | | | | | | | | | | | GAINS (LOSSES) RECOGNIZED IN OCI ON DERIVATIVES FOR THE THREE MONTHS ENDED (EFFECTIVE PORTION) | | GAINS (LOSSES) RECLASSIFIED FROM AOCI INTO INCOME FOR THE THREE MONTHS ENDED (EFFECTIVE PORTION) | | | October 29,
2016 | | October 24,
2015 | | Line Item in Statements of Operations | | October 29,
2016 | | October 24,
2015 | Derivatives designated as cash flow hedging instruments: | | | | | | | | | | | Foreign currency derivatives | | $ | (46 | ) | | $ | (4 | ) | | Operating expenses | | $ | (9 | ) | | $ | (2 | ) | | | | | | | Cost of sales—service | | (3 | ) | | (1 | ) | Total | | $ | (46 | ) | | $ | (4 | ) | | | | $ | (12 | ) | | $ | (3 | ) | | | | | | | | | | | | Derivatives designated as net investment hedging instruments: | | | | | | | | | | | Foreign currency derivatives | | $ | 9 |
| | $ | — |
| | Other income (loss), net | | $ | — |
| | $ | — |
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| Schedule Of Derivative Fair Value Hedge Instruments Gain Loss In Statement Of Financial Performance |
The effect on the Consolidated Statements of Operations of derivative instruments designated as fair value hedges and the underlying hedged items is summarized as follows (in millions): | | | | | | | | | | | | | | | | | | | | | | | | GAINS (LOSSES) ON DERIVATIVE INSTRUMENTS FOR THE THREE MONTHS ENDED | | GAINS (LOSSES) RELATED TO HEDGED ITEMS FOR THE THREE MONTHS ENDED | Derivatives Designated as Fair Value Hedging Instruments | | Line Item in Statements of Operations | | October 29,
2016 | | October 24,
2015 | | October 29,
2016 | | October 24,
2015 | Interest rate derivatives | | Interest expense | | $ | (91 | ) | | $ | 127 |
| | $ | 90 |
| | $ | (125 | ) |
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| Effect Of Derivative Instruments Not Designated As Fair Value Hedges On Consolidated Statement Of Operations Summary |
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 ENDED | Derivatives Not Designated as Hedging Instruments | | Line Item in Statements of Operations | | October 29,
2016 | | October 24,
2015 | Foreign currency derivatives | | Other income (loss), net | | $ | (16 | ) | | $ | 4 |
| Total return swaps—deferred compensation | | Operating expenses | | (3 | ) | | (16 | ) | Equity derivatives | | Other income (loss), net | | 1 |
| | 10 |
| Total | | | | $ | (18 | ) | | $ | (2 | ) |
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| Schedule Of Notional Amounts Of Derivatives Outstanding |
The notional amounts of the Company’s outstanding derivatives are summarized as follows (in millions): | | | | | | | | | | October 29,
2016 | | July 30,
2016 | Derivatives designated as hedging instruments: | | | | Foreign currency derivatives—cash flow hedges | $ | 2,385 |
| | $ | 2,683 |
| Interest rate derivatives | 9,900 |
| | 9,900 |
| Net investment hedging instruments | 290 |
| | 298 |
| Derivatives not designated as hedging instruments: | | | | Foreign currency derivatives | 2,107 |
| | 2,057 |
| Total return swaps—deferred compensation | 497 |
| | 476 |
| Total | $ | 15,179 |
| | $ | 15,414 |
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| Offsetting Assets and Liabilities |
Information related to these offsetting arrangements is summarized as follows (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | October 29, 2016 | | GROSS AMOUNTS OFFSET IN THE CONSOLIDATED BALANCE SHEETS | | GROSS AMOUNTS NOT OFFSET IN THE CONSOLIDATED BALANCE SHEETS
BUT WITH LEGAL RIGHTS TO OFFSET | | Gross Amounts Recognized | | Gross Amounts Offset | | Net Amounts Presented | | Gross Derivative Amounts | | Cash Collateral | | Net Amount | Derivatives assets | $ | 292 |
| | $ | — |
| | $ | 292 |
| | $ | (30 | ) | | $ | (242 | ) | | $ | 20 |
| Derivatives liabilities | $ | 85 |
| | $ | — |
| | $ | 85 |
| | $ | (30 | ) | | $ | — |
| | $ | 55 |
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| | | | | | | | | | | | | | | | | | | | | | | | | | July 30, 2016 | | GROSS AMOUNTS OFFSET IN THE CONSOLIDATED BALANCE SHEETS | | GROSS AMOUNTS NOT OFFSET IN THE CONSOLIDATED BALANCE SHEETS
BUT WITH LEGAL RIGHTS TO OFFSET | | Gross Amounts Recognized | | Gross Amounts Offset | | Net Amounts Presented | | Gross Derivative Amounts | | Cash Collateral | | Net Amount | Derivatives assets | $ | 385 |
| | $ | — |
| | $ | 385 |
| | $ | (23 | ) | | $ | (305 | ) | | $ | 57 |
| Derivatives liabilities | $ | 54 |
| | $ | — |
| | $ | 54 |
| | $ | (23 | ) | | $ | — |
| | $ | 31 |
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