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Available-for-Sale Debt and Equity Investments (Tables)

12 Months Ended

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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Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales.

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