Business Combinations (Tables)

9 Months Ended

Apr. 30, 2021

The preliminary allocation of the Credit Karma purchase price is as follows:


(In millions)	Amount
Cash and cash equivalents	$	436
Accounts receivable, net	141
Income taxes receivable	59
Prepaid expenses and other current assets	8
Long-term investments	3
Property and equipment, net	63
Operating lease right-of-use assets	167
Goodwill	3,899
Intangible assets	3,372

Other assets	83
Accounts payable	(86)
Accrued compensation and related liabilities	(113)
Other current liabilities	(24)
Operating lease liabilities	(172)
Long-term deferred income tax liabilities	(632)
Other long-term obligations	(10)
Total preliminary purchase price allocation	$	7,194

The following table presents the details of identifiable intangible assets acquired.


(In millions, except years)	Estimated Useful Life	Amount
User relationships	15 years	$	2,781
Trade names/Trademarks	15 years	375
Purchased technology	6 years	216
Total identifiable intangible assets		$	3,372

The following table summarizes the long-term deferred income tax liabilities included in the purchase price allocation above:


(In millions)	Amount
Intangibles	$	(850)
Federal and state net operating loss carryforwards	132
Federal research and experimentation credit carryforwards	51
Other, net	35
Total long-term deferred income tax liabilities	$	(632)

The following table summarizes the pro forma financial information: