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Employee Benefit Plans (Tables) | 12 Months Ended
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Jul. 27, 2024
Retirement Benefits [Abstract] |
Summary of Share-Based Compensation Expense | Share-based compensation expense consists of expenses for RSUs, stock purchase rights, and stock options, granted to employees or assumed from acquisitions. The following table summarizes share-based compensation expense (in millions):
Years Ended | July 27, 2024 |  | July 29, 2023 |  | July 30, 2022
Cost of sales—product | $ | 214 |  |  | $ | 151 |  |  | $ | 112 |
Cost of sales—services | 300 |  |  | 245 |  |  | 199 |
Share-based compensation expense in cost of sales | 514 |  |  | 396 |  |  | 311 |
Research and development | 1,316 |  |  | 1,008 |  |  | 790 |
Sales and marketing | 846 |  |  | 673 |  |  | 572 |
General and administrative | 375 |  |  | 270 |  |  | 212 |
Restructuring and other charges | 23 |  |  | 6 |  |  | 1 |
Share-based compensation expense in operating expenses | 2,560 |  |  | 1,957 |  |  | 1,575 |
Total share-based compensation expense | $ | 3,074 |  |  | $ | 2,353 |  |  | $ | 1,886 |
Income tax benefit for share-based compensation | $ | 696 |  |  | $ | 449 |  |  | $ | 457 |
Summary of Restricted Stock and Stock Unit Activity | A summary of the restricted stock and stock unit activity, which includes time-based and performance-based or market-based RSUs, is as follows (in millions, except per-share amounts):
| Restricted Stock/ Stock Units |  | Weighted-Average Grant Date Fair Value per Share |  | Aggregate Fair Value
UNVESTED BALANCE AT JULY 31, 2021 | 94 |  |  | $ | 42.93 |  |  |
Granted and assumed | 52 |  |  | 50.06 |  |  |
Vested | (37) |  |  | 42.27 |  |  | $ | 1,979 |
Canceled/forfeited/other | (12) |  |  | 45.63 |  |  |
UNVESTED BALANCE AT JULY 30, 2022 | 97 |  |  | 46.67 |  |  |
Granted and assumed | 72 |  |  | 42.08 |  |  |
Vested | (39) |  |  | 46.69 |  |  | $ | 1,746 |
Canceled/forfeited/other | (8) |  |  | 45.17 |  |  |
UNVESTED BALANCE AT JULY 29, 2023 | 122 |  |  | 44.04 |  |  |
Granted and assumed | 63 |  |  | 48.97 |  |  |
Vested | (58) |  |  | 43.46 |  |  | $ | 2,906 |
Canceled/forfeited/other | (10) |  |  | 45.65 |  |  |
UNVESTED BALANCE AT JULY 27, 2024 | 117 |  |  | $ | 46.86 |  |  |
Schedule of Valuation Assumptions for Time-based RSUs and PRSUs | The assumptions for the valuation of time-based RSUs and PRSUs are summarized as follows:
| RESTRICTED STOCK UNITS
Years Ended | July 27, 2024 |  | July 29, 2023 |  | July 30, 2022
Number of shares granted (in millions) | 60 |  |  | 70 |  |  | 50 |
Grant date fair value per share | $ | 48.71 |  |  | $ | 42.13 |  |  | $ | 49.68 |
Weighted-average assumptions/inputs: |  |  |  |  |
Expected dividend yield | 3.0 | % |  | 3.4 | % |  | 2.9 | %
Range of risk-free interest rates | 4.2% – 5.6% |  | 3.7% – 5.7% |  | 0.0% – 3.0%
| PERFORMANCE BASED RESTRICTED STOCK UNITS
Years Ended | July 27, 2024 |  | July 29, 2023 |  | July 30, 2022
Number of shares granted (in millions) | 3 |  |  | 2 |  |  | 2 |
Grant date fair value per share | $ | 59.31 |  |  | $ | 40.44 |  |  | $ | 59.64 |
Weighted-average assumptions/inputs: |  |  |  |  |
Expected dividend yield | N/A |  | N/A |  | 0.4 | %
Range of risk-free interest rates | N/A |  | N/A |  | 0.0% – 0.7%
Schedule of Valuation Assumptions for Employee Stock Purchase Rights | The assumptions for the valuation of employee stock purchase rights are summarized as follows:
| EMPLOYEE STOCK PURCHASE RIGHTS
Years Ended | July 27, 2024 |  | July 29, 2023 |  | July 30, 2022
Weighted-average assumptions: |  |  |  |  |
Expected volatility | 28.3 | % |  | 28.7 | % |  | 27.9 | %
Risk-free interest rate | 2.9 | % |  | 2.8 | % |  | 0.1 | %
Expected dividend | 3.5 | % |  | 3.6 | % |  | 3.2 | %
Expected life (in years) | 1.2 |  | 1.2 |  | 1.2
Weighted-average estimated grant date fair value per share | $ | 11.59 |  |  | $ | 12.40 |  |  | $ | 12.90 |

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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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