Acquisitions (Tables)

12 Months Ended

Jul. 31, 2025

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary purchase price allocation for the assets acquired and liabilities assumed in regards to the Company’s respective acquisitions having occurred as of July 31 in fiscal 2025 and 2024:

	Acquisitions occurring in fiscal
(In millions)	2025	2024
Cash and cash equivalents	$2	$1
Receivables and other assets	44	53
Inventories	48	50
Property, plant and equipment	3	6
Operating lease right-of-use assets	14	11
Customer relationships intangible assets	136	108
Other intangible assets	16	15
Trade and other payables	(24)	(41)
Lease liabilities	(14)	(11)
Deferred tax	(4)	(7)
Other	—	(2)
Total	221	183
Goodwill	116	124
Consideration	$337	$307
Satisfied by:
Cash	$303	$261
Deferred consideration	34	46
Total consideration	$337	$307

Schedule of Business Acquisitions

The net outflow of cash in respect of the purchase of businesses is as follows: 

	For the years ended July 31,
(In millions)	2025	2024
Purchase consideration	$303	$261
Cash, cash equivalents and bank overdrafts acquired	(2)	(1)
Cash consideration paid, net of cash acquired	301	260
Deferred and contingent consideration paid for prior years’ acquisitions(1)	41	44
Net cash outflow in respect of the purchase of businesses	$342	$304

(1) Included in other financing activities in the consolidated statements of cash flows

Schedule of Business Acquisition, Pro Forma Information

If each acquisition had been completed on the first day of the prior fiscal year, the Company’s unaudited pro forma net sales and income before income tax would have been:

	Year ended July 31,
(In millions)	2025	2024
Pro forma net sales for current year acquisitions	$30,966	$29,954
Pro forma income before income tax for current year acquisitions	2,427	2,476

	Year ended July 31,
(In millions)	2024	2023
Pro forma net sales for prior year acquisitions	$29,902	$30,140