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Fair Value Measurements (Tables)
 6 Months Ended
Jan. 31, 2022
Fair Value Disclosures [Abstract]  
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, 2022July 31, 2021
(In millions)Level 1Level 2Total
Fair Value		Level 1Level 2Total
Fair Value
Assets:      
Cash equivalents, primarily money market funds and time deposits$264 $— $264 $1,660 $— $1,660 
Available-for-sale debt securities:      
Municipal bonds— — — — 38 38 
Corporate notes— 324 324 — 1,400 1,400 
U.S. agency securities— 32 32 — 70 70 
Total available-for-sale debt securities— 356 356 — 1,508 1,508 
Total assets measured at fair value on a recurring basis$264 $356 $620 $1,660 $1,508 $3,168 
Liabilities:
Senior unsecured notes(1)
$— $1,926 $1,926 $— $1,986 $1,986 
(1) Carrying value on our balance sheets at January 31, 2022 and July 31, 2021 was $1.99 billion. See Note 7, “Long-Term Obligations and Commitments,” for more information.
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, 2022July 31, 2021
(In millions)Level 1Level 2Total
Fair Value		Level 1Level 2Total
Fair Value
Cash equivalents:      
In cash and cash equivalents$219 $— $219 $1,660 $— $1,660 
In funds held for customers45 — 45 — — — 
Total cash equivalents$264 $— $264 $1,660 $— $1,660 
Available-for-sale debt securities:      
In investments$— $157 $157 $— $1,308 $1,308 
In funds held for customers— 199 199 — 200 200 
Total available-for-sale debt securities$— $356 $356 $— $1,508 $1,508