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Restructuring and Other Charges

3 Months Ended

Oct. 30, 2021

Restructuring Charges [Abstract]

Restructuring and Other Charges

Restructuring and Other Charges

We initiated a restructuring plan in fiscal 2021 (the “Fiscal 2021 Plan”), which included a voluntary early retirement program, in order to realign the organization and enable further investment in key priority areas. The total pretax charges are estimated to be approximately $900 million. In connection with the Fiscal 2021 Plan, we have incurred cumulative charges of $887 million and substantially completed this plan in fiscal 2021.

We initiated a restructuring plan in fiscal 2020 (the “Fiscal 2020 Plan”) in order to realign the organization and enable further investment in key priority areas. In connection with the Fiscal 2020 Plan, we incurred cumulative charges of $259 million. We completed the Fiscal 2020 Plan in fiscal 2021.

The aggregate pretax charges related to these plans are primarily cash-based and consist of severance and other one-time termination benefits, and other costs.

The following tables summarize the activities related to the restructuring and other charges (in millions):

						FISCAL 2020 AND PRIOR PLANS												FISCAL 2021 PLAN
						Employee Severance						Other						Employee Severance						Other						Total
Liability as of July 31, 2021						$	—					$	10					$	16					$	8					$	34
Charges						—						(1)						4						2						5
Cash payments						—						(1)						(8)						—						(9)
Non-cash items						—						—						—						(4)						(4)
Liability as of October 30, 2021						$	—					$	8					$	12					$	6					$	26

						FISCAL 2020 AND PRIOR PLANS												FISCAL 2021 PLAN
						Employee Severance						Other						Employee Severance						Other						Total
Liability as of July 25, 2020						$	58					$	14					$	—					$	—					$	72
Charges						—						—						590						12						602
Cash payments						(58)						—						(272)						—						(330)
Non-cash items						—						—						—						(11)						(11)
Liability as of October 24, 2020						$	—					$	14					$	318					$	1					$	333

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- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4(e))
-URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI http://asc.fasb.org/topic&trid=2175745

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

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X

- References

No definition available.

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