Fair Value (Tables)

12 Months Ended

Jul. 28, 2012

Assets and Liabilities Measured At Fair Value On Recurring Basis

Assets and liabilities measured at fair value on a recurring basis as of July 28, 2012 and July 30, 2011 were as follows (in millions):

	JULY 28, 2012 FAIR VALUE MEASUREMENTS								JULY 30, 2011 FAIR VALUE MEASUREMENTS
	Level 1		Level 2		Level 3		Total Balance		Level 1		Level 2		Level 3		Total Balance
Assets
Cash equivalents:
Money market funds	$	2,506	$	—	$	—	$	2,506	$	5,852	$	—	$	—	$	5,852
U.S. government agency securities		—		—		—		—		—		1		—		1
Available-for-sale investments:
U.S. government securities		—		24,241		—		24,241		—		19,139		—		19,139
U.S. government agency securities		—		5,388		—		5,388		—		8,776		—		8,776
Non-U.S. government and agency securities		—		1,638		—		1,638		—		3,132		—		3,132
Corporate debt securities		—		6,030		—		6,030		—		4,394		—		4,394
Asset-backed securities		—		—		—		—		—		—		121		121
Publicly traded equity securities		1,620		—		—		1,620		1,361		—		—		1,361
Derivative assets		—		263		1		264		—		220		2		222
Total	$	4,126	$	37,560	$	1	$	41,687	$	7,213	$	35,662	$	123	$	42,998
Liabilities:
Derivative liabilities	$	—	$	42	$	—	$	42	$	—	$	24	$	—	$	24
Total	$	—	$	42	$	—	$	42	$	—	$	24	$	—	$	24

Fair Value On Nonrecurring Basis

The following tables present the Company’s financial instruments and nonfinancial assets that were measured at fair value on a nonrecurring basis during the indicated periods and the related recognized gains and losses for the periods (in millions):

	July 28, 2012					July 30, 2011					July 31, 2010
	Net Carrying Value as of Year End		Total Gains (Losses) for the Year Ended			Net Carrying Value as of Year End		Total Gains (Losses) for the Year Ended			Net Carrying Value as of Year End		Total Gains (Losses) for the Year Ended
Property held for sale	$	63	$	(413	)	$	20	$	(38	)	$	25	$	(86	)
Investments in privately held companies	$	47		(23	)	$	13		(10	)	$	45		(25	)
Purchased intangible assets	$	—		(12	)	$	—		(164	)	$	—		(28	)
Manufacturing operations held for sale	$	—		—		$	167		(61	)	$	—		—
Gains on assets no longer held at end of fiscal year				14					—					2
Total losses for nonrecurring measurements			$	(434	)			$	(273	)			$	(137	)

Reconciliation For All Assets Measured At Fair Value On Recurring Basis Using Significant Unobservable Inputs (Level 3)

The following tables present a reconciliation for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the years ended July 28, 2012 and July 30, 2011 (in millions):

	Asset-Backed Securities			Derivative Assets			Total
Balance at July 30, 2011	$	121		$	2		$	123
Total gains and losses (realized and unrealized):
Included in other income, net		3			—			3
Included in other comprehensive income		(3	)		—			(3	)
Sales		(14	)		(1	)		(15	)
Transfer into Level 2		(107	)		—			(107	)
Balance at July 28, 2012	$	—		$	1		$	1

	Asset-Backed Securities			Derivative Assets			Total
Balance at July 31, 2010	$	149		$	3		$	152
Total gains and losses (realized and unrealized):
Included in other income, net		3			(1	)		2
Purchases, sales and maturities		(31	)		—			(31	)
Balance at July 30, 2011	$	121		$	2		$	123
Losses attributable to assets still held as of July 30, 2011	$	—		$	(1	)	$	(1	)