Restructuring and Other Charges

12 Months Ended

Jul. 31, 2021

We initiated a restructuring plan during fiscal 2021 (the “Fiscal 2021 Plan”), which included a voluntary early retirement program, in order to realign the organization and enable further investment in key priority areas with estimated pretax charges of approximately $900 million. In connection with the Fiscal 2021 Plan, we incurred charges of $881 million during fiscal 2021. We substantially completed the Fiscal 2021 Plan in fiscal 2021 and do not expect any remaining charges related to this plan to be material.

We initiated a restructuring plan during fiscal 2020 (the “Fiscal 2020 Plan”) in order to realign the organization and enable further investment in key priority areas, with estimated pretax charges of approximately $300 million. In connection with the Fiscal 2020 Plan, we incurred cumulative charges of $260 million. We completed the Fiscal 2020 Plan in fiscal 2021.

In prior years, we initiated restructuring plans in order to realign our organization and enable further investment in key priority areas. The aggregate pretax charges related to these plans are primarily cash-based and consist of severance and other one-time termination benefits, and other costs.

The following table summarizes the activities related to the restructuring and other charges, as discussed above (in millions):


	FISCAL 2020 AND PRIOR PLANS				FISCAL 2021 PLAN
	Employee Severance		Other		Employee Severance		Other		Total
Liability as of July 28, 2018	$	60	$	13	$	—	$	—	$	73
Charges	252		70		—		—		322
Cash payments	(289)		(10)		—		—		(299)
Non-cash items	(1)		(62)		—		—		(63)
Liability as of July 27, 2019	22		11		—		—		33
Charges	353		128		—		—		481
Cash payments	(317)		(10)		—		—		(327)
Non-cash items	—		(115)		—		—		(115)
Liability as of July 25, 2020	58		14		—		—		72
Charges	—		5		836		45		886
Cash payments	(58)		(6)		(821)		(5)		(890)
Non-cash items	—		(3)		1		(32)		(34)
Liability as of July 31, 2021	$	—	$	10	$	16	$	8	$	34