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Borrowings (Tables) | 12 Months Ended
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Jul. 27, 2019
Debt Disclosure [Abstract] |
Schedule of Short-Term Debt | The following table summarizes our short-term debt (in millions, except percentages):
| July 27, 2019 |  | July 28, 2018
| Amount |  | Effective Rate |  | Amount |  | Effective Rate
Current portion of long-term debt | $ | 5,998 |  |  | 3.20 | % |  | $ | 5,238 |  |  | 3.46 | %
Commercial paper | 4,193 |  |  | 2.34 | % |  | — |  |  | — |
Total short-term debt | $ | 10,191 |  |  |  |  | $ | 5,238 |  |  |
Schedule of Long-Term Debt | The following table summarizes our long-term debt (in millions, except percentages):
|  |  | July 27, 2019 |  | July 28, 2018
| Maturity Date |  | Amount |  | Effective Rate |  | Amount |  | Effective Rate
Senior notes: |  |  |  |  |  |  |  |  |
Floating-rate notes: |  |  |  |  |  |  |  |  |
Three-month LIBOR plus 0.50% | March 1, 2019 |  | $ | — |  |  | — |  | $ | 500 |  |  | 2.86%
Three-month LIBOR plus 0.34% | September 20, 2019 |  | 500 |  |  | 2.77% |  | 500 |  |  | 2.71%
Fixed-rate notes: |  |  |  |  |  |  |  |  |
4.95% | February 15, 2019 |  | — |  |  | — |  | 2,000 |  |  | 5.17%
1.60% | February 28, 2019 |  | — |  |  | — |  | 1,000 |  |  | 1.67%
2.125% | March 1, 2019 |  | — |  |  | — |  | 1,750 |  |  | 2.71%
1.40% | September 20, 2019 |  | 1,500 |  |  | 1.48% |  | 1,500 |  |  | 1.48%
4.45% | January 15, 2020 |  | 2,500 |  |  | 4.72% |  | 2,500 |  |  | 4.52%
2.45% | June 15, 2020 |  | 1,500 |  |  | 2.54% |  | 1,500 |  |  | 2.54%
2.20% | February 28, 2021 |  | 2,500 |  |  | 2.30% |  | 2,500 |  |  | 2.30%
2.90% | March 4, 2021 |  | 500 |  |  | 3.14% |  | 500 |  |  | 2.86%
1.85% | September 20, 2021 |  | 2,000 |  |  | 1.90% |  | 2,000 |  |  | 1.90%
3.00% | June 15, 2022 |  | 500 |  |  | 3.36% |  | 500 |  |  | 3.11%
2.60% | February 28, 2023 |  | 500 |  |  | 2.68% |  | 500 |  |  | 2.68%
2.20% | September 20, 2023 |  | 750 |  |  | 2.27% |  | 750 |  |  | 2.27%
3.625% | March 4, 2024 |  | 1,000 |  |  | 3.25% |  | 1,000 |  |  | 2.98%
3.50% | June 15, 2025 |  | 500 |  |  | 3.52% |  | 500 |  |  | 3.27%
2.95% | February 28, 2026 |  | 750 |  |  | 3.01% |  | 750 |  |  | 3.01%
2.50% | September 20, 2026 |  | 1,500 |  |  | 2.55% |  | 1,500 |  |  | 2.55%
5.90% | February 15, 2039 |  | 2,000 |  |  | 6.11% |  | 2,000 |  |  | 6.11%
5.50% | January 15, 2040 |  | 2,000 |  |  | 5.67% |  | 2,000 |  |  | 5.67%
Total |  |  | 20,500 |  |  |  |  | 25,750 |  |  |
Unaccreted discount/issuance costs |  |  | (100 | ) |  |  |  | (116 | ) |  |
Hedge accounting fair value adjustments |  |  | 73 |  |  |  |  | (65 | ) |  |
Total |  |  | $ | 20,473 |  |  |  |  | $ | 25,569 |  |  |
Reported as: |  |  |  |  |  |  |  |  |
Short-term debt |  |  | $ | 5,998 |  |  |  |  | $ | 5,238 |  |  |
Long-term debt |  |  | 14,475 |  |  |  |  | 20,331 |  |  |
Total |  |  | $ | 20,473 |  |  |  |  | $ | 25,569 |  |  |
Schedule of Principal Payments for Long-Term Debt | As of July 27, 2019, future principal payments for long-term debt, including the current portion, are summarized as follows (in millions):
Fiscal Year | Amount
2020 | $ | 6,000 |
2021 | 3,000 |
2022 | 2,500 |
2023 | 500 |
2024 | 1,750 |
Thereafter | 6,750 |
Total | $ | 20,500 |

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