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Leases (Tables)
3 Months Ended
Oct. 31, 2022
Leases [Abstract]  
Components of lease expense
The components of lease expense were as follows:
Three Months Ended
(In millions)October 31,
2022
October 31,
2021
Operating lease cost (1)
$28 $21 
Variable lease cost
Sublease income(3)(5)
Total net lease cost$29 $19 
(1)    Includes short-term leases, which were not significant for each of the three months ended October 31, 2022 and 2021.
Supplemental cash flow information related to operating leases was as follows:
Three Months Ended
(In millions)October 31,
2022
October 31,
2021
Cash paid for amounts included in the measurement of operating lease liabilities$23 $24 
Right-of-use assets obtained in exchange for operating lease liabilities$16 $43 
Other information related to operating leases was as follows at the dates indicated:
October 31,
2022
July 31,
2022
Weighted-average remaining lease term for operating leases8.1 years8.1 years
Weighted-average discount rate for operating leases2.2 %2.9 %
Supplemental balance sheet information related to operating leases was as follows at the dates indicated:
(In millions)October 31,
2022
July 31,
2022
Operating lease right-of-use assets$535 $549 
Other current liabilities$86 $84 
Operating lease liabilities530 542 
Total operating lease liabilities$616 $626 
Future minimum lease payments
Future minimum lease payments under non-cancellable operating leases as of October 31, 2022 were as follows:
(In millions)
Operating
Leases (1)
Fiscal year ending July 31, 
2023 (excluding the three months ended October 31, 2022)$37 
2024107 
202594 
202676 
202768 
Thereafter337 
Total future minimum lease payments719 
Less imputed interest(103)
Present value of lease liabilities$616 
(1)    Non-cancellable sublease proceeds for the remainder of the fiscal year ending July 31, 2023 and the fiscal years ending July 31, 2024, 2025, 2026, 2027, and thereafter of $9 million, $10 million, $5 million, $1 million, $1 million, and $3 million, respectively, are not included in the table above.