Cash and Cash Equivalents, Investments, and Funds Held for Customers (Tables)

9 Months Ended

Apr. 30, 2021

Cash and Cash Equivalents, Investments and Funds Held for Customers [Abstract]

Cash and cash equivalents, investments and funds held for customers by balance sheet classification

The following table summarizes our cash and cash equivalents, investments, and funds held for customers by balance sheet classification at the dates indicated.

	April 30, 2021				July 31, 2020
(In millions)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Classification on condensed consolidated balance sheets:
Cash and cash equivalents	$	3,164	$	3,164	$	6,442	$	6,442
Investments	948		952		600		608
Funds held for customers	347		348		455		455
Total cash and cash equivalents, investments, and funds held for customers	$	4,459	$	4,464	$	7,497	$	7,505

Cash and cash equivalents, investments and funds held for customers by investment category

The following table summarizes our cash and cash equivalents, investments, and funds held for customers by investment category at the dates indicated.

	April 30, 2021				July 31, 2020
(In millions)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Type of issue:
Total cash, cash equivalents, restricted cash, and restricted cash equivalents	$	3,312	$	3,312	$	6,697	$	6,697
Available-for-sale debt securities:
Municipal bonds	34		34		9		9
Corporate notes	1,057		1,061		744		752
U.S. agency securities	56		57		47		47
Total available-for-sale debt securities	1,147		1,152		800		808
Total cash, cash equivalents, restricted cash, restricted cash equivalents, and investments	$	4,459	$	4,464	$	7,497	$	7,505

Available-for-sale debt securities classified by the stated maturity date of the security

The following table summarizes our available-for-sale debt securities, included in investments and funds held for customers, classified by the stated maturity date of the security at the dates indicated.

	April 30, 2021				July 31, 2020
(In millions)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within one year	$	419	$	421	$	389	$	390
Due within two years	334		336		256		261
Due within three years	390		391		137		139
Due after three years	4		4		18		18
Total available-for-sale debt securities	$	1,147	$	1,152	$	800	$	808

Schedule of funds held for customers

The following table summarizes our funds held for customers by investment category at the dates indicated.

(In millions)	April 30, 2021		July 31, 2020
Restricted cash and restricted cash equivalents	$	148	$	255
Restricted available-for-sale debt securities	200		200
Total funds held for customers	$	348	$	455

(In millions)	April 30, 2020		July 31, 2019
Restricted cash and restricted cash equivalents	$	189	$	236
Restricted available-for-sale debt securities	200		200
Total funds held for customers	$	389	$	436