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Leases (Tables)

12 Months Ended

Jul. 31, 2021

The following table presents our operating lease balances (in millions):


	Balance Sheet Line Item	July 31, 2021		July 25, 2020
Operating lease right-of-use assets	Other assets	$	1,095	$	921

Operating lease liabilities	Other current liabilities	$	337	$	341
Operating lease liabilities	Other long-term liabilities	831		661
Total operating lease liabilities		$	1,168	$	1,002

Lease Expenses and Supplemental Information

The components of our lease expenses were as follows (in millions):


Years Ended	July 31, 2021		July 25, 2020
Operating lease expense	$	399	$	428
Short-term lease expense	65		69
Variable lease expense	173		157
Total lease expense	$	637	$	654

Supplemental information related to our operating leases is as follows (in millions):


Years Ended	July 31, 2021		July 25, 2020
Cash paid for amounts included in the measurement of lease liabilities — operating cash flows	$	407	$	413
Right-of-use assets obtained in exchange for operating leases liabilities	$	536	$	197

Maturities of Operating Leases

The maturities of our operating leases (undiscounted) as of July 31, 2021 are as follows (in millions):


Fiscal Year	Amount
2022	$	355
2023	279
2024	195
2025	127
2026	70
Thereafter	219
Total lease payments	1,245
Less interest	(77)
Total	$	1,168

Future Minimum Lease Payments on Lease Receivables

Future minimum lease payments on our lease receivables as of July 31, 2021 are summarized as follows (in millions):


Fiscal Year	Amount
2022	$	682
2023	556
2024	286
2025	144
2026	41
Thereafter	1
Total	1,710
Less: Present value of lease payments	1,632
Unearned income	$	78

Operating Lease Assets

Amounts relating to equipment on operating lease assets held by us and the associated accumulated depreciation are summarized as follows (in millions):


	July 31, 2021		July 25, 2020
Operating lease assets	$	273	$	337
Accumulated depreciation	(165)		(198)
Operating lease assets, net	$	108	$	139

Minimum Future Rentals on Noncancelable Operating Leases

Minimum future rentals on noncancelable operating leases as of July 31, 2021 are summarized as follows (in millions):


Fiscal Year	Amount
2022	$	49
2023	24
2024	6
2025	1
Total	$	80