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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

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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.

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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.

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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.

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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.

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