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Fair Value
 12 Months Ended
Jul. 29, 2023
Fair Value Disclosures [Abstract]  
Fair Value Fair Value
(a)Assets and Liabilities Measured at Fair Value on a Recurring Basis
Assets and liabilities measured at fair value on a recurring basis were as follows (in millions):
JULY 29, 2023JULY 30, 2022
FAIR VALUE MEASUREMENTSFAIR VALUE MEASUREMENTS
Level 1Level 2Total
Balance		Level 1Level 2Total
Balance
Assets:
Cash equivalents:
Money market funds$6,496 $— $6,496 $3,930 $— $3,930 
Commercial paper— 1,090 1,090 — 72 72 
Certificates of deposit— 47 47 — 32 32 
Corporate debt securities— 25 25 — 1 1 
U.S. government securities— — — — 12 12 
Available-for-sale debt investments:
U.S. government securities— 3,526 3,526 — 1,238 1,238 
U.S. government agency securities— 423 423 — 138 138 
Non-U.S. government and agency securities— 363 363 — 272 272 
Corporate debt securities— 6,914 6,914 — 7,818 7,818 
U.S. agency mortgage-backed securities— 2,205 2,205 — 1,976 1,976 
Commercial paper— 1,484 1,484 — 255 255 
Certificates of deposit— 677 677 — 250 250 
Equity investments:
Marketable equity securities431 — 431 241 — 241 
Other current assets:
Money market funds188 — 188 — — — 
Other assets:
Money market funds1,313 — 1,313 1,500 — 1,500 
Derivative assets— 32 32 — 78 78 
Total$8,428 $16,786 $25,214 $5,671 $12,142 $17,813 
Liabilities:
Derivative liabilities$— $75 $75 $— $89 $89 
Total$— $75 $75 $— $89 $89 
(b)Assets Measured at Fair Value on a Nonrecurring Basis
Our non-marketable equity securities using the measurement alternative are adjusted to fair value on a non-recurring basis. Adjustments are made when observable transactions for identical or similar investments of the same issuer occur, or due to impairment. These securities are classified as Level 3 in the fair value hierarchy because we estimate the value based on valuation methods using the observable transaction price at the transaction date and other unobservable inputs such as volatility, rights, and obligations of the securities we hold.
(c)Other Fair Value Disclosures
The fair value of our short-term loan receivables approximates their carrying value due to their short duration. The aggregate carrying value of our long-term loan receivables as of July 29, 2023 and July 30, 2022 was $2.9 billion and $3.4 billion, respectively. The estimated fair value of our long-term loan receivables approximates their carrying value. We use unobservable inputs in determining discounted cash flows to estimate the fair value of our long-term loan receivables, and therefore they are categorized as Level 3.
As of July 29, 2023 and July 30, 2022, the estimated fair value of our short-term debt approximates its carrying value due to the short maturities. As of July 29, 2023, the fair value of our senior notes was $8.7 billion, with a carrying amount of $8.4 billion. This compares to a fair value of $9.7 billion and a carrying amount of $8.9 billion as of July 30, 2022. The fair value of the senior notes was determined based on observable market prices in a less active market and was categorized as Level 2.