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v3.23.2

Investments (Tables) | 12 Months Ended
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Jul. 29, 2023
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 29, 2023 | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized and Credit Losses |  | Fair Value
U.S. government securities | $ | 3,587 |  |  | $ | 1 |  |  | $ | (62) |  |  | $ | 3,526 |
U.S. government agency securities | 428 |  |  | — |  |  | (5) |  |  | 423 |
Non-U.S. government and agency securities | 364 |  |  | — |  |  | (1) |  |  | 363 |
Corporate debt securities | 7,238 |  |  | 3 |  |  | (327) |  |  | 6,914 |
U.S. agency mortgage-backed securities | 2,421 |  |  | 14 |  |  | (230) |  |  | 2,205 |
Commercial paper | 1,484 |  |  | — |  |  | — |  |  | 1,484 |
Certificates of deposit | 677 |  |  | — |  |  | — |  |  | 677 |
Total | $ | 16,199 |  |  | $ | 18 |  |  | $ | (625) |  |  | $ | 15,592 |
July 30, 2022 | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized and Credit Losses |  | Fair Value
U.S. government securities | $ | 1,287 |  |  | $ | — |  |  | $ | (49) |  |  | $ | 1,238 |
U.S. government agency securities | 142 |  |  | — |  |  | (4) |  |  | 138 |
Non-U.S. government and agency securities | 272 |  |  | — |  |  | — |  |  | 272 |
Corporate debt securities | 8,127 |  |  | 2 |  |  | (311) |  |  | 7,818 |
U.S. agency mortgage-backed securities | 2,134 |  |  | — |  |  | (158) |  |  | 1,976 |
Commercial paper | 255 |  |  | — |  |  | — |  |  | 255 |
Certificates of deposit | 250 |  |  | — |  |  | — |  |  | 250 |
Total | $ | 12,467 |  |  | $ | 2 |  |  | $ | (522) |  |  | $ | 11,947 |
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 29, 2023 |  | July 30, 2022 |  | July 31, 2021
Gross realized gains | $ | 4 |  |  | $ | 27 |  |  | $ | 55 |
Gross realized losses | (25) |  |  | (18) |  |  | (2) |
Total | $ | (21) |  |  | $ | 9 |  |  | $ | 53 |
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 29, 2023 and July 30, 2022 (in millions):
| UNREALIZED LOSSES LESS THAN 12 MONTHS |  | UNREALIZED LOSSES 12 MONTHS OR GREATER |  | TOTAL
July 29, 2023 | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
U.S. government securities | $ | 2,394 |  |  | $ | (26) |  |  | $ | 931 |  |  | $ | (36) |  |  | $ | 3,325 |  |  | $ | (62) |
U.S. government agency securities | 343 |  |  | (2) |  |  | 72 |  |  | (3) |  |  | 415 |  |  | (5) |
Non-U.S. government and agency securities | 363 |  |  | (1) |  |  | — |  |  | — |  |  | 363 |  |  | (1) |
Corporate debt securities | 1,736 |  |  | (22) |  |  | 4,315 |  |  | (275) |  |  | 6,051 |  |  | (297) |
U.S. agency mortgage-backed securities | 658 |  |  | (13) |  |  | 1,438 |  |  | (217) |  |  | 2,096 |  |  | (230) |
Commercial paper | 97 |  |  | — |  |  | — |  |  | — |  |  | 97 |  |  | — |
Certificates of deposit | 2 |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | — |
Total | $ | 5,593 |  |  | $ | (64) |  |  | $ | 6,756 |  |  | $ | (531) |  |  | $ | 12,349 |  |  | $ | (595) |
| UNREALIZED LOSSES LESS THAN 12 MONTHS |  | UNREALIZED LOSSES 12 MONTHS OR GREATER |  | TOTAL
July 30, 2022 | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
U.S. government securities | $ | 1,110 |  |  | $ | (44) |  |  | $ | 120 |  |  | $ | (5) |  |  | $ | 1,230 |  |  | $ | (49) |
U.S. government agency securities | 114 |  |  | (2) |  |  | 24 |  |  | (2) |  |  | 138 |  |  | (4) |
Non-U.S. government and agency securities | 264 |  |  | — |  |  | — |  |  | — |  |  | 264 |  |  | — |
Corporate debt securities | 6,920 |  |  | (240) |  |  | 422 |  |  | (37) |  |  | 7,342 |  |  | (277) |
U.S. agency mortgage-backed securities | 1,305 |  |  | (96) |  |  | 615 |  |  | (62) |  |  | 1,920 |  |  | (158) |
Total | $ | 9,713 |  |  | $ | (382) |  |  | $ | 1,181 |  |  | $ | (106) |  |  | $ | 10,894 |  |  | $ | (488) |
Maturities of Fixed Income Securities | The following table summarizes the maturities of our available-for-sale debt investments as of July 29, 2023 (in millions):
| Amortized Cost |  | Fair Value
Within 1 year | $ | 5,510 |  |  | $ | 5,462 |
After 1 year through 5 years | 8,197 |  |  | 7,856 |
After 5 years through 10 years | 69 |  |  | 67 |
After 10 years | 2 |  |  | 2 |
Mortgage-backed securities with no single maturity | 2,421 |  |  | 2,205 |
Total | $ | 16,199 |  |  | $ | 15,592 |

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