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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Jul. 31, 2017
Jul. 31, 2016
Jul. 31, 2015
Cash flows from operating activities:      
Net income $ 971 $ 979 $ 365
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 214 195 157
Amortization of acquired intangible assets 22 43 74
Goodwill and intangible asset impairment charges 0 0 297
Share-based compensation expense 326 281 257
Pre-tax gain on sale of discontinued operations [1] 0 (354) 0
Deferred income taxes 8 70 (100)
Tax benefit from share-based compensation plans 0 59 85
Other 13 17 4
Total adjustments 583 311 774
Changes in operating assets and liabilities:      
Accounts receivable 5 (20) 24
Income taxes receivable (44) 64 (49)
Prepaid expenses and other assets (9) (10) 22
Accounts payable 0 (23) 35
Accrued compensation and related liabilities 10 (11) 24
Deferred revenue 83 192 398
Other liabilities 0 (22) (4)
Total changes in operating assets and liabilities 45 170 450
Net cash provided by operating activities 1,599 1,460 1,589
Cash flows from investing activities:      
Purchases of corporate and customer fund investments (352) (934) (939)
Sales of corporate and customer fund investments 359 1,165 620
Maturities of corporate and customer fund investments 183 187 475
Net change in cash and cash equivalents held to satisfy customer fund obligations (68) 58 (49)
Net change in customer fund deposits 68 (33) 49
Purchases of property and equipment (102) (416) (142)
Capitalization of internal use software (128) (106) (119)
Acquisitions of businesses, net of cash acquired 0 0 (95)
Proceeds from divestiture of businesses 0 463 0
Other (45) (13) 18
Net cash provided by (used in) investing activities (85) 371 (182)
Cash flows from financing activities:      
Proceeds from borrowings under revolving credit facilities 150 995 0
Repayments on borrowings under revolving credit facilities (150) (995) 0
Proceeds from long-term debt 0 500 0
Repayment of debt (512) 0 0
Proceeds from issuance of stock under employee stock plans 226 197 220
Payments for employee taxes withheld upon vesting of restricted stock units (153) (108) (113)
Cash paid for purchases of treasury stock (839) (2,264) (1,245)
Dividends and dividend rights paid (353) (318) (283)
Other (1) (6) (1)
Net cash used in financing activities (1,632) (1,999) (1,422)
Effect of exchange rates on cash and cash equivalents 9 (2) (26)
Net decrease in cash and cash equivalents (109) (170) (41)
Cash and cash equivalents at beginning of period 638 808 849
Cash and cash equivalents at end of period 529 638 808
Supplemental disclosure of cash flow information:      
Interest paid 42 37 32
Income taxes paid $ 430 $ 389 $ 222
[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 6, “Discontinued Operations,” for more information.