Restructuring

12 Months Ended

Jul. 31, 2024

Restructuring and Related Activities [Abstract]

Restructuring

16. Restructuring

In July 2024, our management approved, committed to, and initiated a plan of reorganization (the Plan) focused on reallocating resources to our key growth areas. The Plan includes the exit of employees and the closing of real estate sites in certain markets in service to growing technology teams and capabilities in strategic locations. We expect the actions associated with the Plan to be substantially complete by the first quarter of fiscal 2025. Restructuring costs associated with the Plan are estimated to be approximately $247 million. During the twelve months ended July 31, 2024, we recorded a $223 million charge in connection with the Plan. This charge is primarily related to severance and employee benefits and is recorded to restructuring in our consolidated statements of operations. Any changes to the estimates of executing the Plan will be reflected in future results of operations.

The following table summarizes the activity for the Plan by segment.

(In millions)	Accrued July 31, 2023		Initial Costs		Cash Payments		Non-Cash Items		Accrued July 31, 2024		Total Costs Incurred to Date		Total Expected Plan Cost
Small Business & Self-Employed	$	—	$	96	$	—	$	(12)	$	84	$	96	$	110
Consumer	—		9		—		—		9		9		10
Credit Karma	—		—		—		—		—		—		—
ProTax	—		2		—		—		2		2		2
Corporate	—		116		—		(24)		92		116		125
Totals	$	—	$	223	$	—	$	(36)	$	187	$	223	$	247