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Restructuring and Other Charges | 12 Months Ended
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Jul. 29, 2023
Restructuring Charges [Abstract] |
Restructuring and Other Charges | Restructuring and Other Charges In the second quarter of fiscal 2023, we announced a restructuring plan (the “Fiscal 2023 Plan”), in order to rebalance the organization and enable further investment in key priority areas, of which approximately 5% of the global workforce would be impacted. The total pretax charges are estimated to be approximately $700 million. This rebalancing includes talent movement options and restructuring. Additionally, we have begun optimizing our real estate portfolio, aligned to the broader hybrid work strategy. In connection with the Fiscal 2023 Plan, we incurred charges of $535 million in fiscal 2023. These aggregate pretax charges will be primarily cash-based and will consist of severance and other one-time termination benefits, real estate-related charges, and other costs. We expect the plan to be substantially completed by the end of the first quarter of fiscal 2024. We initiated a restructuring plan in fiscal 2021 (the “Fiscal 2021 Plan”), which was completed in fiscal 2022. In connection with the Fiscal 2021 Plan, we incurred cumulative charges of $892 million. The aggregate pretax charges related to this plan were primarily cash-based and consist of severance and other one-time termination benefits, and other costs. The following table summarizes the activities related to the restructuring and other charges, as discussed above (in millions):
|  | FISCAL 2023 PLAN |  | FISCAL 2021 AND PRIOR PLANS |  |
|  | Employee Severance |  | Other |  | Employee Severance |  | Other |  | Total
Liability as of July 25, 2020 |  | $ | — |  |  | $ | — |  |  | $ | 58 |  |  | $ | 14 |  |  | $ | 72 |
Charges |  | — |  |  | — |  |  | 836 |  |  | 50 |  |  | 886 |
Cash payments |  | — |  |  | — |  |  | (879) |  |  | (11) |  |  | (890) |
Non-cash items |  | — |  |  | — |  |  | 1 |  |  | (35) |  |  | (34) |
Liability as of July 31, 2021 |  | — |  |  | — |  |  | 16 |  |  | 18 |  |  | 34 |
Charges |  | — |  |  | — |  |  | 9 |  |  | (3) |  |  | 6 |
Cash payments |  | — |  |  | — |  |  | (23) |  |  | (2) |  |  | (25) |
Non-cash items |  | — |  |  | — |  |  | — |  |  | (6) |  |  | (6) |
Liability as of July 30, 2022 |  | — |  |  | — |  |  | 2 |  |  | 7 |  |  | 9 |
Charges |  | 465 |  |  | 70 |  |  | — |  |  | (4) |  |  | 531 |
Cash payments |  | (301) |  |  | (11) |  |  | (1) |  |  | (1) |  |  | (314) |
Non-cash items |  | 2 |  |  | (15) |  |  | — |  |  | — |  |  | (13) |
Liability as of July 29, 2023 |  | $ | 166 |  |  | $ | 44 |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | 213 |

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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 -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//420/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
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