Fair Value Measurements (Tables)

3 Months Ended

Oct. 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.

	October 31, 2022						July 31, 2022
(In millions)	Level 1		Level 2		Total Fair Value		Level 1		Level 2		Total Fair Value
Assets:
Cash equivalents, primarily money market funds and time deposits	$	1,117	$	—	$	1,117	$	1,835	$	—	$	1,835
Available-for-sale debt securities:
Municipal bonds	—		—		—		—		—		—
Corporate notes	—		684		684		—		589		589
U.S. agency securities	—		115		115		—		96		96
Total available-for-sale debt securities	—		799		799		—		685		685
Total assets measured at fair value on a recurring basis	$	1,117	$	799	$	1,916	$	1,835	$	685	$	2,520
Liabilities:
Senior unsecured notes(1)	$	—	$	1,745	$	1,745	$	—	$	1,838	$	1,838

(1) Carrying value on our condensed consolidated balance sheets at October 31, 2022 and July 31, 2022 was $1.99 billion. See Note 6, “Debt,” 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.

	October 31, 2022						July 31, 2022
(In millions)	Level 1		Level 2		Total Fair Value		Level 1		Level 2		Total Fair Value
Cash equivalents:
In cash and cash equivalents	$	1,117	$	—	$	1,117	$	1,835	$	—	$	1,835
In funds receivable and amounts held for customers	—		—		—		—		—		—
Total cash equivalents	$	1,117	$	—	$	1,117	$	1,835	$	—	$	1,835
Available-for-sale debt securities:
In investments	$	—	$	599	$	599	$	—	$	485	$	485
In funds receivable and amounts held for customers	—		200		200		—		200		200
Total available-for-sale debt securities	$	—	$	799	$	799	$	—	$	685	$	685