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Cash and Cash Equivalents, Investments, and Funds Held for Customers
 12 Months Ended
Jul. 31, 2022
Cash and Cash Equivalents, Investments and Funds Held for Customers [Abstract]  
Cash and Cash Equivalents, Investments, and Funds Held for Customers
3. Cash and Cash Equivalents, Investments, and Funds Receivable and Amounts Held for Customers
The following table summarizes our cash and cash equivalents, investments and funds receivable and amounts held for customers by balance sheet classification at the dates indicated.
 July 31, 2022July 31, 2021
(In millions)
Amortized
Cost
Fair Value
Amortized
Cost
Fair Value
Classification on consolidated balance sheets:    
Cash and cash equivalents$2,796 $2,796 $2,562 $2,562 
Investments490 485 1,305 1,308 
Funds receivable and amounts held for customers435 431 456 457 
Total cash and cash equivalents, investments, and funds receivable and amounts held for customers$3,721 $3,712 $4,323 $4,327 
The following table summarizes our cash and cash equivalents, investments and relevant portion of funds receivable and amounts held for customers by investment category at the dates indicated. As of July 31, 2022, this excludes $30 million of funds receivable included in funds receivable and amounts held for customers not measured and recorded at fair value.
 July 31, 2022July 31, 2021
(In millions)Amortized CostFair ValueAmortized CostFair Value
Type of issue:    
Total cash, cash equivalents, restricted cash, and restricted cash equivalents$2,997 $2,997 $2,819 $2,819 
Available-for-sale debt securities:    
Municipal bonds— — 37 38 
Corporate notes597 589 1,397 1,400 
U.S. agency securities97 96 70 70 
Total available-for-sale debt securities694 685 1,504 1,508 
Total cash, cash equivalents, restricted cash, restricted cash equivalents, and investments$3,691 $3,682 $4,323 $4,327 
We include realized gains and losses on our available-for-sale debt securities in interest and other income or expense on our consolidated statements of operations. Gross realized gains and losses on our available-for-sale debt securities for the twelve months ended July 31, 2022, 2021 and 2020 were not significant.
We accumulate unrealized gains and losses on our available-for-sale debt securities, net of tax, in accumulated other comprehensive income or loss in the stockholders’ equity section of our consolidated balance sheets, except for certain unrealized losses described below. Gross unrealized gains and losses on our available-for-sale debt securities at July 31, 2022 and July 31, 2021 were not significant.
For available-for sale debt securities in an unrealized loss position, we determine whether a credit loss exists. The estimate of the credit loss is determined by considering available information relevant to the collectibility of the security and information about past events, current conditions, and reasonable and supportable forecasts. The allowance for credit loss is recorded to interest and other income on our consolidated statement of operations, not to exceed the amount of the unrealized loss. Any excess unrealized loss greater than the credit loss at a security level is recognized in accumulated other comprehensive income or loss in the stockholders' equity section of our consolidated balance sheets. We determined there were no credit losses related to available-for-sale securities as of July 31, 2022. Unrealized losses on available-for-sale debt securities at July 31, 2022 were not significant. We do not intend to sell these investments. In addition, it is more likely than not that we will not be required to sell them before recovery of the amortized cost basis, which may be at maturity.
The following table summarizes our available-for-sale debt securities, included in investments and relevant portion of funds receivable and amounts held for customers, classified by the stated maturity date of the security at the dates indicated.
 July 31, 2022July 31, 2021
(In millions)Amortized CostFair ValueAmortized CostFair Value
Due within one year$316 $313 $551 $553 
Due within two years298 293 550 551 
Due within three years79 78 398 398 
Due after three years1 1 5 6 
Total available-for-sale debt securities$694 $685 $1,504 $1,508 

The following table summarizes our funds receivable and amounts held for customers by asset category at the dates indicated.
(In millions)July 31, 2022July 31, 2021July 31, 2020July 31, 2019
Restricted cash and restricted cash equivalents$201 $257 $255 $236 
Restricted available-for-sale debt securities and funds receivable230 200 200 200 
Total funds receivable and amounts held for customers$431 $457 $455 $436