XML 64 R46.htm IDEA: XBRL DOCUMENT
v3.21.2

Employee Benefit Plans (Tables) | 12 Months Ended
--- | ---
Jul. 31, 2021
Retirement Benefits [Abstract] |
Summary of Share-Based Compensation Expense | Share-based compensation expense consists primarily of expenses for RSUs, stock purchase rights, and stock options, granted to employees or assumed from acquisitions. The following table summarizes share-based compensation expense (in millions):
Years Ended | July 31, 2021 |  | July 25, 2020 |  | July 27, 2019
Cost of sales—product | $ | 99 |  |  | $ | 93 |  |  | $ | 90 |
Cost of sales—service | 176 |  |  | 144 |  |  | 130 |
Share-based compensation expense in cost of sales | 275 |  |  | 237 |  |  | 220 |
Research and development | 694 |  |  | 592 |  |  | 540 |
Sales and marketing | 540 |  |  | 500 |  |  | 519 |
General and administrative | 226 |  |  | 215 |  |  | 250 |
Restructuring and other charges | 26 |  |  | 25 |  |  | 62 |
Share-based compensation expense in operating expenses | 1,486 |  |  | 1,332 |  |  | 1,371 |
Total share-based compensation expense | $ | 1,761 |  |  | $ | 1,569 |  |  | $ | 1,591 |
Income tax benefit for share-based compensation | $ | 387 |  |  | $ | 452 |  |  | $ | 542 |
Summary of Restricted Stock and Stock Unit Activity | A summary of the restricted stock and stock unit activity, which includes time-based and performance-based or market-based RSUs, is as follows (in millions, except per-share amounts):
| Restricted Stock/ Stock Units |  | Weighted-Average Grant Date Fair Value per Share |  | Aggregate Fair Value
UNVESTED BALANCE AT JULY 28, 2018 | 119 |  |  | $ | 30.56 |  |  |
Granted | 45 |  |  | 47.71 |  |  |
Vested | (50) |  |  | 29.25 |  |  | $ | 2,446 |
Canceled/forfeited/other | (14) |  |  | 32.01 |  |  |
UNVESTED BALANCE AT JULY 27, 2019 | 100 |  |  | 38.66 |  |  |
Granted and assumed | 49 |  |  | 42.61 |  |  |
Vested | (44) |  |  | 35.20 |  |  | $ | 2,045 |
Canceled/forfeited/other | (9) |  |  | 40.45 |  |  |
UNVESTED BALANCE AT JULY 25, 2020 | 96 |  |  | 42.03 |  |  |
Granted and assumed | 51 |  |  | 41.89 |  |  |
Vested | (39) |  |  | 39.63 |  |  | $ | 1,813 |
Canceled/forfeited/other | (14) |  |  | 42.13 |  |  |
UNVESTED BALANCE AT JULY 31, 2021 | 94 |  |  | $ | 42.93 |  |  |
Schedule of Valuation Assumptions for Time-based RSUs and PRSUs | The assumptions for the valuation of time-based RSUs and PRSUs are summarized as follows:
| RESTRICTED STOCK UNITS
Years Ended | July 31, 2021 |  | July 25, 2020 |  | July 27, 2019
Number of shares granted (in millions) | 48 |  |  | 47 |  |  | 43 |
Grant date fair value per share | $ | 42.04 |  |  | $ | 42.68 |  |  | $ | 47.75 |
Weighted-average assumptions/inputs: |  |  |  |  |
Expected dividend yield | 3.3 | % |  | 3.1 | % |  | 2.7 | %
Range of risk-free interest rates | 0.0% – 0.9% |  | 0.0% – 2.0% |  | 0.0% – 2.9%
| PERFORMANCE BASED RESTRICTED STOCK UNITS
Years Ended | July 31, 2021 |  | July 25, 2020 |  | July 27, 2019
Number of shares granted (in millions) | 2 |  |  | 2 |  |  | 2 |
Grant date fair value per share | $ | 37.91 |  |  | $ | 41.91 |  |  | $ | 47.00 |
Weighted-average assumptions/inputs: |  |  |  |  |
Expected dividend yield | 3.6 | % |  | 2.8 | % |  | 2.8 | %
Range of risk-free interest rates | 0.1% – 0.4% |  | 1.7% – 2.0% |  | 2.1% – 3.0%
Schedule of Valuation Assumptions for Employee Stock Purchase Rights | The assumptions for the valuation of employee stock purchase rights are summarized as follows:
| EMPLOYEE STOCK PURCHASE RIGHTS
Years Ended | July 31, 2021 |  | July 25, 2020 |  | July 27, 2019
Weighted-average assumptions: |  |  |  |  |
Expected volatility | 29.2 | % |  | 22.2 | % |  | 20.4 | %
Risk-free interest rate | 0.3 | % |  | 1.8 | % |  | 1.9 | %
Expected dividend | 3.2 | % |  | 3.0 | % |  | 3.0 | %
Expected life (in years) | 1.3 |  | 1.3 |  | 1.3
Weighted-average estimated grant date fair value per share | $ | 12.46 |  |  | $ | 10.20 |  |  | $ | 9.06 |

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=122041274&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardEmployeeStockPurchasePlanValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration