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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Jul. 31, 2016
Jul. 31, 2015
Jul. 31, 2014
Cash flows from operating activities:      
Net income $ 979 $ 365 $ 907
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 195 157 144
Amortization of acquired intangible assets 43 74 53
Goodwill and intangible asset impairment charges 0 297 0
Share-based compensation expense 281 257 204
Pre-tax gain on sale of discontinued operations (1) [1] (354) 0 (40)
Net realized gain on sale of available-for-sale equity securities 0 0 (21)
Deferred income taxes 70 (100) 93
Tax benefit from share-based compensation plans 59 85 82
Excess tax benefit from share-based compensation plans (59) (85) (82)
Other 17 4 24
Total adjustments 252 689 457
Changes in operating assets and liabilities:      
Accounts receivable (20) 24 (5)
Income taxes receivable 64 (49) 27
Prepaid expenses and other assets (10) 22 (14)
Accounts payable (23) 35 15
Accrued compensation and related liabilities (11) 24 43
Deferred revenue 192 398 15
Other liabilities (22) (4) 1
Total changes in operating assets and liabilities 170 450 82
Net cash provided by operating activities 1,401 1,504 1,446
Cash flows from investing activities:      
Purchases of corporate and customer fund investments (934) (939) (1,334)
Sales of corporate and customer fund investments 1,165 620 346
Maturities of corporate and customer fund investments 187 475 567
Net change in money market funds and other cash equivalents held to satisfy customer fund obligations 58 (49) (54)
Net change in customer fund deposits (33) 49 54
Proceeds from the sale of available-for-sale equity securities 0 0 26
Purchases of property and equipment (416) (142) (104)
Capitalization of internal use software (106) (119) (82)
Acquisitions of businesses, net of cash acquired 0 (95) (471)
Proceeds from divestiture of businesses 463 0 1,025
Other (13) 18 (22)
Net cash provided by (used in) investing activities 371 (182) (49)
Cash flows from financing activities:      
Proceeds from borrowings under revolving credit facilities 995 0 0
Repayments on borrowings under revolving credit facilities (995) 0 0
Proceeds from long-term debt 500 0 0
Net proceeds from issuance of stock under employee stock plans 89 107 165
Cash paid for purchases of treasury stock (2,264) (1,245) (1,577)
Dividends and dividend rights paid (318) (283) (220)
Excess tax benefit from share-based compensation plans 59 85 82
Other (6) (1) (1)
Net cash used in financing activities (1,940) (1,337) (1,551)
Effect of exchange rates on cash and cash equivalents (2) (26) (6)
Net decrease in cash and cash equivalents (170) (41) (160)
Cash and cash equivalents at beginning of period 808 849 1,009
Cash and cash equivalents at end of period 638 808 849
Supplemental disclosure of cash flow information:      
Interest paid 37 32 32
Income taxes paid $ 389 $ 222 $ 240
[1] Because the cash flows of our discontinued operations were not material for any period presented, we have not segregated the cash flows of those businesses on these statements of cash flows. We have presented the effect of the pre-tax gains on the disposals on these statements of cash flows. See Note 7, “Discontinued Operations,” for more information.