Fair Value Measurements (Tables)

3 Months Ended

Oct. 31, 2023

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, 2023						July 31, 2023
(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	$	783	$	—	$	783	$	1,888	$	—	$	1,888
Available-for-sale debt securities:
Corporate notes	—		547		547		—		805		805
U.S. agency securities	—		171		171		—		209		209
Total available-for-sale debt securities	—		718		718		—		1,014		1,014
Total assets measured at fair value on a recurring basis	$	783	$	718	$	1,501	$	1,888	$	1,014	$	2,902
Liabilities:
Senior unsecured notes(1)	$	—	$	5,096	$	5,096	$	—	$	1,309	$	1,309

(1) Carrying values on our condensed consolidated balance sheets at October 31, 2023 and July 31, 2023 were $5.45 billion and $1.49 billion, respectively. 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, 2023						July 31, 2023
(In millions)	Level 1		Level 2		Total Fair Value		Level 1		Level 2		Total Fair Value
Cash equivalents:
In cash and cash equivalents	$	783	$	—	$	783	$	1,888	$	—	$	1,888
Available-for-sale debt securities:
In investments	$	—	$	537	$	537	$	—	$	814	$	814
In funds receivable and amounts held for customers	—		181		181		—		200		200
Total available-for-sale debt securities	$	—	$	718	$	718	$	—	$	1,014	$	1,014