Goodwill

12 Months Ended

Jul. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Note 7. Goodwill

The Company completed its annual impairment analysis for goodwill during the fourth quarter of fiscal 2024. Based on the results of the Company’s analysis, the Company concluded that the fair value of each reporting unit was substantially in excess of its respective carrying value. There were no impairment charges related to goodwill in fiscal 2024, 2023 or 2022.

The following table presents the changes in the net carrying amount of goodwill allocated by reportable segment for the years ended July 31, 2024 and 2023:

(In millions)	United States	Canada	Total
Balance as of July 31, 2022	$1,894	$154	$2,048
Acquisitions	198	—	198
Effect of currency translation adjustment	—	(5)	(5)
Balance as of July 31, 2023	2,092	149	2,241
Acquisitions	91	33	124
Effect of currency translation adjustment	(1)	(7)	(8)
Balance as of July 31, 2024	$2,182	$175	$2,357
Cumulative goodwill impairment as of July 31, 2024	$108	$11	$119

Cumulative balance of historical goodwill impairments as of July 31, 2024, as shown above, was the same for all periods presented herein. See Note 16, Acquisitions, to the Consolidated Financial Statements for further information on the additions to goodwill in fiscal 2024 and 2023.