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Restructuring and impairment expenses
 12 Months Ended
Jul. 31, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and impairment expenses Restructuring and impairment expenses
The Company’s restructuring expenses are summarized below:
For the years ended July 31,
(In millions)202520242023
Corporate restructuring expenses$7 $28 $— 
Business restructuring expenses73 — 18 
Impairment expenses— — 107 
Restructuring expenses$80 $28 $125 
Corporate restructuring expenses
During fiscal 2025, the Company recorded corporate restructuring expenses that were primarily related to transition activities following the establishment of our parent company’s domicile in the United States.
During fiscal 2024, corporate restructuring expenses primarily related to establishing a new corporate structure to domicile our ultimate parent company in the United States.
Business restructuring expenses
During fiscal 2025, the Company implemented targeted actions to streamline operations, enhancing speed and efficiency to better serve customers and drive further profitable growth. As a result of these actions, non-recurring business restructuring expenses of $73 million were incurred, primarily in the United States. The charges primarily related to severance costs of $45 million, as well as $15 million of non-cash branch and facility costs, mainly related to lease impairments. The Company does not expect charges in connection with these actions, including any future charges, to be material.
During fiscal 2023, the Company recorded charges of $18 million related to the closure of certain smaller, underperforming branches in the United States, primarily related to impairment of lease assets and related fixed assets. This item was included in the restructuring and impairments expenses line of the Company’s consolidated statements of earnings.
No such business restructurings were recorded in fiscal 2024.
Impairments
In fiscal 2023, the Company recorded a non-cash charge of $107 million in connection with previously capitalized software costs in the United States. This item was included in the restructuring and impairments expenses line of the Company’s consolidated statements of earnings. No such impairments were recorded in fiscal years 2025 and 2024.