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Borrowings (Tables) | 12 Months Ended
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Jul. 27, 2024
Debt Disclosure [Abstract] |
Schedule of Short-Term Debt | The following table summarizes our short-term debt (in millions, except percentages):
| July 27, 2024 |  | July 29, 2023
| Amount |  | Effective Rate |  | Amount |  | Effective Rate
Current portion of long-term debt | $ | 488 |  |  | 6.66 | % |  | $ | 1,733 |  |  | 4.45 | %
Commercial paper | 10,853 |  |  | 5.43 | % |  | — |  |  | — |
Total | $ | 11,341 |  |  |  |  | $ | 1,733 |  |  |
Schedule of Long-Term Debt | The following table summarizes our long-term debt (in millions, except percentages):
|  |  | July 27, 2024 |  | July 29, 2023
| Maturity Date |  | Amount |  | Effective Rate |  | Amount |  | Effective Rate
Senior notes: |  |  |  |  |  |  |  |  |
Fixed-rate notes: |  |  |  |  |  |  |  |  |
2.20% | September 20, 2023 |  | $ | — |  |  | — |  | $ | 750 |  |  | 2.27%
3.625% | March 4, 2024 |  | — |  |  | — |  | 1,000 |  |  | 6.08%
3.50% | June 15, 2025 |  | 500 |  |  | 6.66% |  | 500 |  |  | 6.38%
4.90% | February 26, 2026 |  | 1,000 |  |  | 5.00% |  | — |  |  | —
2.95% | February 28, 2026 |  | 750 |  |  | 3.01% |  | 750 |  |  | 3.01%
2.50% | September 20, 2026 |  | 1,500 |  |  | 2.55% |  | 1,500 |  |  | 2.55%
4.80% | February 26, 2027 |  | 2,000 |  |  | 4.90% |  | — |  |  | —
4.85% | February 26, 2029 |  | 2,500 |  |  | 4.91% |  | — |  |  | —
4.95% | February 26, 2031 |  | 2,500 |  |  | 5.04% |  | — |  |  | —
5.05% | February 26, 2034 |  | 2,500 |  |  | 4.97% |  | — |  |  | —
5.90% | February 15, 2039 |  | 2,000 |  |  | 6.11% |  | 2,000 |  |  | 6.11%
5.50% | January 15, 2040 |  | 2,000 |  |  | 5.67% |  | 2,000 |  |  | 5.67%
5.30% | February 26, 2054 |  | 2,000 |  |  | 5.28% |  | — |  |  | —
5.35% | February 26, 2064 |  | 1,000 |  |  | 5.42% |  | — |  |  | —
Other long-term debt |  |  | 3 |  |  | 1.13% |  | — |  |  | —
Total |  |  | 20,253 |  |  |  |  | 8,500 |  |  |
Unaccreted discount/issuance costs |  |  | (133) |  |  |  |  | (68) |  |  |
Hedge accounting fair value adjustments |  |  | (11) |  |  |  |  | (41) |  |  |
Total |  |  | $ | 20,109 |  |  |  |  | $ | 8,391 |  |  |
Reported as: |  |  |  |  |  |  |  |  |
Short-term debt |  |  | $ | 488 |  |  |  |  | $ | 1,733 |  |  |
Long-term debt |  |  | 19,621 |  |  |  |  | 6,658 |  |  |
Total |  |  | $ | 20,109 |  |  |  |  | $ | 8,391 |  |  |
Schedule of Principal Payments for Long-Term Debt | As of July 27, 2024, future principal payments for long-term debt, including the current portion, are summarized as follows (in millions):
Fiscal Year | Amount
2025 | $ | 500 |
2026 | 1,751 |
2027 | 3,502 |
2028 | — |
2029 | 2,500 |
Thereafter | 12,000 |
Total | $ | 20,253 |

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