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Long-Term Obligations and Commitments (Tables)
 12 Months Ended
Jul. 31, 2021
Long-Term Obligations and Commitments [Abstract]  
Carrying value of senior unsecured debt
The carrying value of the Notes was as follows at the date indicated:
 July 31,July 31,Effective
(In millions)20212020Interest Rate
Senior unsecured notes issued June 2020:
0.650% notes due July 2023
$500 $500 0.837%
0.950% notes due July 2025
500 500 1.127%
1.350% notes due July 2027
500 500 1.486%
1.650% notes due July 2030
500 500 1.767%
Total senior unsecured notes2,000 2,000 
Unamortized discount and debt issuance costs(14)(17)
Net carrying value senior unsecured notes$1,986 $1,983 
Future principal payments for long-term debt
Future principal payments for long-term debt at July 31, 2021 were as shown in the table below.
(In millions)
Fiscal year ending July 31,
2022$— 
2023500 
202448 
2025500 
2026— 
Thereafter1,000 
Total commitments$2,048 
Other long-term obligations
Other long-term obligations were as follows at the dates indicated:
 July 31,
(In millions)20212020
Long-term income tax liabilities$24 $10 
Total dividend payable17 12 
Long-term deferred revenue8 13 
Other15 17 
Total long-term obligations64 52 
Less current portion (included in other current liabilities)(11)(10)
Long-term obligations due after one year$53 $42 
Annual minimum commitments under purchase obligations and operating leases
Annual minimum commitments under purchase obligations at July 31, 2021 were as shown in the table below.
(In millions)Purchase
Obligations
Fiscal year ending July 31,
2022$205 
2023147 
202468 
202558 
202653 
Thereafter— 
Total commitments$531