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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Jul. 31, 2022
Cash flows from operating activities:      
Net income $ 1,735 $ 1,889 $ 2,122
Income from discontinued operations 0 0 (23)
Income from continuing operations 1,735 1,889 2,099
Depreciation and amortization 335 321 301
Share-based compensation 49 51 57
Non-cash impact of impairments 0 125 15
Changes in deferred income taxes 125 (104) 41
Changes in inventories (252) 607 (927)
Increase in receivables and other assets (98) (1) (780)
Changes in accounts payable and other liabilities 11 (196) 436
Changes in income taxes payable (45) 24 (103)
Other operating activities 13 11 10
Net cash provided by operating activities of continuing operations 1,873 2,727 1,149
Net cash used in operating activities of discontinued operations 0 (4) 0
Net cash provided by operating activities 1,873 2,723 1,149
Cash flows from investing activities:      
Purchase of businesses acquired, net of cash acquired (260) (616) (650)
Capital expenditures (372) (441) (290)
Other investing activities 31 3 (6)
Net cash used in investing activities of continuing operations (601) (1,054) (946)
Net cash provided by investing activities of discontinued operations 0 0 24
Net cash used in investing activities (601) (1,054) (922)
Cash flows from financing activities:      
Purchase of own shares by Employee Benefit Trust 0 0 (92)
Purchase of treasury shares (634) (908) (1,545)
Proceeds from sale of treasury shares 17 17 13
Repayments of debt (2,110) (2,930) (575)
Proceeds from debt 2,255 2,775 2,019
Change in bank overdrafts (16) (15) (4)
Cash dividends (784) (711) (538)
Other financing activities (41) (35) (22)
Net cash used in financing activities (1,313) (1,807) (744)
Change in cash, cash equivalents and restricted cash (41) (138) (517)
Effects of exchange rate changes (3) 22 (40)
Cash, cash equivalents and restricted cash, beginning of period 669 785 1,342
Cash, cash equivalents and restricted cash, end of period 625 669 785
Supplemental Disclosures:      
Cash paid for income taxes 651 656 670
Cash paid for interest 188 182 94
Accrued capital expenditures 6 17 16
Accrued dividends $ 0 $ 152 $ 0