Fair Value Measurements (Tables)

9 Months Ended

Apr. 30, 2015

Fair Value Disclosures [Abstract]

Financial assets and liabilities measured at fair value on recurring basis

The following table summarizes financial assets and financial liabilities that we measured at fair value on a recurring basis at the dates indicated, classified in accordance with the fair value hierarchy described above.

	April 30, 2015								July 31, 2014
(In millions)	Level 1		Level 2		Level 3		Total Fair Value		Level 1		Level 2		Level 3		Total Fair Value
Assets:
Cash equivalents, primarily money market funds	$	770	$	—	$	—	$	770	$	652	$	—	$	—	$	652
Available-for-sale debt securities:
Municipal bonds	—		495		—		495		—		701		—		701
Corporate notes	—		571		—		571		—		466		—		466
U.S. agency securities	—		—		—		—		—		42		—		42
Municipal auction rate securities	—		—		21		21		—		—		21		21
Total available-for-sale securities	—		1,066		21		1,087		—		1,209		21		1,230
Total assets measured at fair value on a recurring basis	$	770	$	1,066	$	21	$	1,857	$	652	$	1,209	$	21	$	1,882
Liabilities:
Senior notes (1)	$	—	$	542	$	—	$	542	$	—	$	556	$	—	$	556

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(1) Carrying value on our balance sheet at April 30, 2015 was $499 million and at July 31, 2014 was $499 million. See Note 6.

Cash equivalents and available-for-sale debt and equity securities by balance sheet classification and level in the fair value hierarchy

The following table summarizes our cash equivalents and available-for-sale debt securities by balance sheet classification and level in the fair value hierarchy at the dates indicated.

	April 30, 2015								July 31, 2014
(In millions)	Level 1		Level 2		Level 3		Total Fair Value		Level 1		Level 2		Level 3		Total Fair Value
Cash equivalents:
In cash and cash equivalents	$	615	$	—	$	—	$	615	$	507	$	—	$	—	$	507
In funds held for customers	155		—		—		155		145		—		—		145
Total cash equivalents	$	770	$	—	$	—	$	770	$	652	$	—	$	—	$	652
Available-for-sale securities:
In investments	$	—	$	891	$	—	$	891	$	—	$	1,065	$	—	$	1,065
In funds held for customers	—		175		—		175		—		144		—		144
In long-term investments	—		—		21		21		—		—		21		21
Total available-for-sale securities	$	—	$	1,066	$	21	$	1,087	$	—	$	1,209	$	21	$	1,230