XML 40 R7.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Apr. 30, 2020
Apr. 30, 2019
Cash flows from operating activities:    
Net income $ 1,381 $ 1,601
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 145 147
Amortization of acquired intangible assets 23 19
Non-cash operating lease cost 46 0
Share-based compensation expense 321 303
Deferred income taxes (102) (44)
Other 22 12
Total adjustments 455 437
Changes in operating assets and liabilities:    
Accounts receivable (132) (165)
Income taxes receivable 58 67
Prepaid expenses and other assets (55) (30)
Accounts payable 111 205
Accrued compensation and related liabilities (32) (55)
Deferred revenue 15 (7)
Income taxes payable 322 334
Operating lease liabilities (42)  
Other liabilities 46 59
Total changes in operating assets and liabilities 291 408
Net cash provided by operating activities 2,127 2,446
Cash flows from investing activities:    
Purchases of corporate and customer fund investments (487) (379)
Sales of corporate and customer fund investments 105 60
Maturities of corporate and customer fund investments 408 175
Purchases of property and equipment (107) (129)
Originations of term loans to small businesses (240) (235)
Principal repayments of term loans from small businesses 229 188
Other (19) 3
Net cash used in investing activities (111) (317)
Cash flows from financing activities:    
Proceeds from borrowings under secured revolving credit facility 0 48
Repayment of debt (38) (38)
Proceeds from issuance of stock under employee stock plans 160 231
Payments for employee taxes withheld upon vesting of restricted stock units (128) (93)
Cash paid for purchases of treasury stock (323) (408)
Dividends and dividend rights paid (419) (374)
Net change in customer fund deposits (47) 16
Other (1) (7)
Net cash used in financing activities (796) (625)
Effect of exchange rates on cash, cash equivalents, restricted cash, and restricted cash equivalents (12) (6)
Net increase in cash, cash equivalents, restricted cash, and restricted cash equivalents 1,208 1,498
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period 2,352 1,631
Cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period 3,560 3,129
Total cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period $ 3,560 $ 3,129