Leases (Tables)

12 Months Ended

Jul. 31, 2024

Leases [Abstract]

Lease Related Assets and Liabilities Disclosures

Lease-related assets and liabilities consisted of the following:

	As of July 31,
(In millions)	2024	2023
Assets:
Operating lease right-of-use assets	$1,565	$1,474
Liabilities:
Current portion of operating lease liabilities	$395	$366
Long-term portion of operating lease liabilities	1,198	1,126
Total lease liabilities	$1,593	$1,492

Schedule of Lease Cost

The components of leasing costs, included in SG&A, consisted of the following:

	For the years ended July 31,
(In millions)	2024	2023	2022
Operating lease costs	$440	$390	$349
Variable lease costs	92	85	72
Short-term lease costs	28	23	14
Total lease costs	$560	$498	$435

The weighted average remaining lease terms and discount rates for the Company’s operating leases were as follows:

	As of July 31,
	2024		2023
Weighted average remaining lease term (years)	5.4		5.5
Weighted average discount rate	4.5	%	4.0	%

Supplemental cash flow information related to leases from continuing operations consisted of the following:

	For the years ended July 31,
(In millions)	2024	2023	2022
Cash paid for operating leases (operating cash flows)	$424	$379	$337
Lease assets obtained in exchange for new operating lease liabilities (non-cash)	253	309	362

Schedule of Lease Maturity

The future minimum rental payments for the next five fiscal years under operating lease obligations, having initial or remaining non-cancelable lease terms in excess of one year are summarized as follows:

	As of July 31,
(In millions)	2024
2025	$409
2026	386
2027	314
2028	243
2029	173
Thereafter	299
Total undiscounted lease payments	1,824
Less: imputed interest	(231)
Present value of liabilities	$1,593