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Available-for-Sale Debt and Equity Investments (Tables) | 12 Months Ended
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Jul. 31, 2021
Investments, Debt and Equity Securities [Abstract] |
Summary of Available-for-Sale Investments | The following tables summarize our available-for-sale debt investments (in millions):
July 31, 2021 | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized and Credit Losses |  | Fair Value
U.S. government securities | $ | 1,773 |  |  | $ | 21 |  |  | $ | — |  |  | $ | 1,794 |
U.S. government agency securities | 152 |  |  | — |  |  | — |  |  | 152 |
Non-U.S. government and agency securities | 3 |  |  | — |  |  | — |  |  | 3 |
Corporate debt securities | 8,727 |  |  | 213 |  |  | (30) |  |  | 8,910 |
U.S. agency mortgage-backed securities | 2,838 |  |  | 34 |  |  | (10) |  |  | 2,862 |
Commercial paper | 1,190 |  |  | — |  |  | — |  |  | 1,190 |
Certificates of deposit | 295 |  |  | — |  |  | — |  |  | 295 |
Total | $ | 14,978 |  |  | $ | 268 |  |  | $ | (40) |  |  | $ | 15,206 |
July 25, 2020 | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
U.S. government securities | $ | 2,614 |  |  | $ | 71 |  |  | $ | — |  |  | $ | 2,685 |
U.S. government agency securities | 110 |  |  | — |  |  | — |  |  | 110 |
Corporate debt securities | 11,549 |  |  | 334 |  |  | (6) |  |  | 11,877 |
U.S. agency mortgage-backed securities | 1,987 |  |  | 49 |  |  | (1) |  |  | 2,035 |
Commercial paper | 727 |  |  | — |  |  | — |  |  | 727 |
Certificates of deposit | 176 |  |  | — |  |  | — |  |  | 176 |
Total | $ | 17,163 |  |  | $ | 454 |  |  | $ | (7) |  |  | $ | 17,610 |
Gross Realized Gains and Gross Realized Losses Related to Available-for-Sale Investment | The following table presents the gross realized gains and gross realized losses related to available-for-sale debt investments (in millions):
Years Ended | July 31, 2021 |  | July 25, 2020 |  | July 27, 2019
Gross realized gains | $ | 55 |  |  | $ | 70 |  |  | $ | 17 |
Gross realized losses | (2) |  |  | (28) |  |  | (30) |
Total | $ | 53 |  |  | $ | 42 |  |  | $ | (13) |
Available-for-Sale Investments with Gross Unrealized Losses | The following tables present the breakdown of the available-for-sale debt investments with gross unrealized losses and the duration that those losses had been unrealized at July 31, 2021 and July 25, 2020 (in millions):
| UNREALIZED LOSSES LESS THAN 12 MONTHS |  | UNREALIZED LOSSES 12 MONTHS OR GREATER |  | TOTAL
July 31, 2021 | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
U.S. government securities | $ | 468 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 468 |  |  | $ | — |
U.S. government agency securities | 26 |  |  | — |  |  | — |  |  | — |  |  | 26 |  |  | — |
Corporate debt securities | 1,086 |  |  | (5) |  |  | 6 |  |  | — |  |  | 1,092 |  |  | (5) |
U.S. agency mortgage-backed securities | 1,293 |  |  | (10) |  |  | 13 |  |  | — |  |  | 1,306 |  |  | (10) |
Commercial paper | 37 |  |  | — |  |  | — |  |  | — |  |  | 37 |  |  | — |
Total | $ | 2,910 |  |  | $ | (15) |  |  | $ | 19 |  |  | $ | — |  |  | $ | 2,929 |  |  | $ | (15) |
| UNREALIZED LOSSES LESS THAN 12 MONTHS |  | UNREALIZED LOSSES 12 MONTHS OR GREATER |  | TOTAL
July 25, 2020 | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
U.S. government agency securities | $ | 33 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 33 |  |  | $ | — |
Corporate debt securities | 1,060 |  |  | (6) |  |  | 3 |  |  | — |  |  | 1,063 |  |  | (6) |
U.S. agency mortgage-backed securities | 265 |  |  | (1) |  |  | — |  |  | — |  |  | 265 |  |  | (1) |
Total | $ | 1,358 |  |  | $ | (7) |  |  | $ | 3 |  |  | $ | — |  |  | $ | 1,361 |  |  | $ | (7) |
Maturities of Fixed Income Securities | The following table summarizes the maturities of our available-for-sale debt investments as of July 31, 2021 (in millions):
| Amortized Cost |  | Fair Value
Within 1 year | $ | 4,981 |  |  | $ | 4,976 |
After 1 year through 5 years | 6,517 |  |  | 6,677 |
After 5 years through 10 years | 637 |  |  | 685 |
After 10 years | 5 |  |  | 6 |
Mortgage-backed securities with no single maturity | 2,838 |  |  | 2,862 |
Total | $ | 14,978 |  |  | $ | 15,206 |

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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27290-111563 + Details
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