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Available-for-Sale Debt and Equity Investments (Tables) | 9 Months Ended
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May 01, 2021
Investments, Debt and Equity Securities [Abstract] |
Summary of Available-for-Sale Debt Investments | The following tables summarize our available-for-sale debt investments (in millions):
May 1, 2021 | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized and Credit Losses |  | Fair Value
U.S. government securities | $ | 1,881 |  |  | $ | 22 |  |  | $ | — |  |  | $ | 1,903 |
U.S. government agency securities | 167 |  |  | — |  |  | — |  |  | 167 |
Non-U.S. government and agency securities | 3 |  |  | — |  |  | — |  |  | 3 |
Corporate debt securities | 9,329 |  |  | 218 |  |  | (35) |  |  | 9,512 |
U.S. agency mortgage-backed securities | 2,788 |  |  | 35 |  |  | (13) |  |  | 2,810 |
Commercial paper | 1,333 |  |  | — |  |  | — |  |  | 1,333 |
Certificates of deposit | 440 |  |  | — |  |  | — |  |  | 440 |
Total (1) | $ | 15,941 |  |  | $ | 275 |  |  | $ | (48) |  |  | $ | 16,168 |
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 |
(1) Net unsettled investment sales were $262 million as of May 1, 2021 and were included in other current assets.
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):
| Three Months Ended |  | Nine Months Ended
| May 1, 2021 |  | April 25, 2020 |  | May 1, 2021 |  | April 25, 2020
Gross realized gains | $ | 24 |  |  | $ | 20 |  |  | $ | 48 |  |  | $ | 45 |
Gross realized losses | (2) |  |  | (21) |  |  | (2) |  |  | (25) |
Total | $ | 22 |  |  | $ | (1) |  |  | $ | 46 |  |  | $ | 20 |
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 May 1, 2021 and July 25, 2020 (in millions):
| UNREALIZED LOSSES LESS THAN 12 MONTHS |  | UNREALIZED LOSSES 12 MONTHS OR GREATER |  | TOTAL
May 1, 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 | 1,242 |  |  | (10) |  |  | 6 |  |  | — |  |  | 1,248 |  |  | (10) |
U.S. agency mortgage-backed securities | 1,618 |  |  | (13) |  |  | — |  |  | — |  |  | 1,618 |  |  | (13) |
Commercial paper | 46 |  |  | — |  |  | — |  |  | — |  |  | 46 |  |  | — |
Certificates of deposit | 16 |  |  | — |  |  | — |  |  | — |  |  | 16 |  |  | — |
Total | $ | 3,416 |  |  | $ | (23) |  |  | $ | 6 |  |  | $ | — |  |  | $ | 3,422 |  |  | $ | (23) |
| 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 Available-for-Sale Debt Investments | The following table summarizes the maturities of our available-for-sale debt investments as of May 1, 2021 (in millions):
| Amortized Cost |  | Fair Value
Within 1 year | $ | 5,608 |  |  | $ | 5,605 |
After 1 year through 5 years | 6,296 |  |  | 6,428 |
After 5 years through 10 years | 1,244 |  |  | 1,318 |
After 10 years | 5 |  |  | 7 |
Mortgage-backed securities with no single maturity | 2,788 |  |  | 2,810 |
Total | $ | 15,941 |  |  | $ | 16,168 |

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