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Derivative Instruments (Tables)
 12 Months Ended
Jul. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value of Derivative Instruments by Balance Sheet Line Item
The fair values of our derivative instruments and the line items on the Consolidated Balance Sheets to which they were recorded are summarized as follows (in millions):
 DERIVATIVE ASSETSDERIVATIVE LIABILITIES
 Balance Sheet Line ItemJuly 31, 2021July 25, 2020Balance Sheet Line ItemJuly 31, 2021July 25, 2020
Derivatives designated as hedging instruments:
Foreign currency derivativesOther current assets$14 $7 Other current liabilities$3 $2 
Foreign currency derivativesOther assets1 — Other long-term liabilities— — 
Interest rate derivativesOther current assets9 6 Other current liabilities— — 
Interest rate derivativesOther assets99 169 Other long-term liabilities— — 
Total123 182 3 2 
Derivatives not designated as hedging instruments:
Foreign currency derivativesOther current assets3 8 Other current liabilities16 8 
Foreign currency derivativesOther assets— — Other long-term liabilities1 — 
Equity derivativesOther assets— 1 Other long-term liabilities— — 
Total3 9 17 8 
Total$126 $191 $20 $10 
Cumulative Basis Adjustments for Fair Value Hedges
The following amounts were recorded on the Consolidated Balance Sheets related to cumulative basis adjustments for our fair value hedges (in millions):
 CARRYING AMOUNT OF THE HEDGED ASSETS/(LIABILITIES)CUMULATIVE AMOUNT OF FAIR VALUE HEDGING ADJUSTMENT INCLUDED IN THE CARRYING AMOUNT OF THE HEDGED ASSETS/LIABILITIES
Balance Sheet Line Item of Hedged ItemJuly 31,
2021		July 25,
2020		July 31,
2021		July 25,
2020
Short-term debt$(508)$(506)$(9)$(6)
Long-term debt$(1,594)$(2,159)$(97)$(165)
Effect on Derivative Instruments Designated as Fair Value Hedges
The effect of derivative instruments designated as fair value hedges, recognized in interest and other income (loss), net is summarized as follows (in millions):
GAINS (LOSSES) FOR 
THE YEARS ENDED
July 31, 2021July 25, 2020July 27, 2019
Interest rate derivatives:
Hedged items$65 $(98)$(138)
Derivatives designated as hedging instruments(67)101 145 
Total$(2)$3 $7 
Effect of Derivative Instruments Not Designated as Fair Value Hedges on Consolidated Statement of Operations
The effect on the Consolidated Statements of Operations of derivative instruments not designated as hedges is summarized as follows (in millions):
  GAINS (LOSSES) FOR 
THE YEARS ENDED
Derivatives Not Designated as Hedging InstrumentsLine Item in Statements of OperationsJuly 31, 2021July 25, 2020July 27, 2019
Foreign currency derivativesOther income (loss), net$2 $(5)$(60)
Total return swaps—deferred compensationOperating expenses and other157 15 5 
Equity derivativesOther income (loss), net20 9 3 
Total$179 $19 $(52)
Schedule of Notional Amounts of Derivatives Outstanding
The notional amounts of our outstanding derivatives are summarized as follows (in millions):
July 31, 2021July 25, 2020
Foreign currency derivatives$4,139 $4,315 
Interest rate derivatives2,000 2,500 
Total return swaps—deferred compensation730 580 
Total$6,869 $7,395