Fair Value Measurements (Tables)

6 Months Ended

Jan. 31, 2018

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.



	January 31, 2018								July 31, 2017
(In millions)	Level 1		Level 2		Level 3		Total Fair Value		Level 1		Level 2		Level 3		Total Fair Value
Assets:
Cash equivalents, primarily time deposits	$	202	$	—	$	—	$	202	$	181	$	—	$	—	$	181
Available-for-sale debt securities:
Municipal bonds	—		50		—		50		—		63		—		63
Corporate notes	—		388		—		388		—		382		—		382
U.S. agency securities	—		10		—		10		—		3		—		3
Municipal auction rate securities	—		—		15		15		—		—		15		15
Total available-for-sale securities	—		448		15		463		—		448		15		463
Total assets measured at fair value on a recurring basis	$	202	$	448	$	15	$	665	$	181	$	448	$	15	$	644

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.



	January 31, 2018								July 31, 2017
(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	$	172	$	—	$	—	$	172	$	181	$	—	$	—	$	181
In funds held for customers	30		—		—		30		—		—		—		—
Total cash equivalents	$	202	$	—	$	—	$	202	$	181	$	—	$	—	$	181
Available-for-sale securities:
In investments	$	—	$	248	$	—	$	248	$	—	$	248	$	—	$	248
In funds held for customers	—		200		—		200		—		200		—		200
In long-term investments	—		—		15		15		—		—		15		15
Total available-for-sale securities	$	—	$	448	$	15	$	463	$	—	$	448	$	15	$	463