Goodwill and Acquired Intangible Assets (Tables)

12 Months Ended

Jul. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Carrying value of goodwill by reportable segment

Changes in the carrying value of goodwill by reportable segment during the twelve months ended July 31, 2024 and July 31, 2023 were as shown in the following table. Our reportable segments are described in Note 15, “Segment Information.”

(In millions)	Balance July 31, 2022		Goodwill Acquired/ Adjusted		Foreign Currency Translation		Balance July 31, 2023		Goodwill Acquired/ Adjusted		Foreign Currency Translation		Balance July 31, 2024
Small Business & Self-Employed	$	9,689	$	1	$	1	$	9,691	$	—	$	(1)	$	9,690
Consumer	51		—		—		51		—		—		51
Credit Karma	3,899		40		2		3,941		65		—		4,006
ProTax	97		—		—		97		—		—		97
Totals	$	13,736	$	41	$	3	$	13,780	$	65	$	(1)	$	13,844

Cost, accumulated amortization and weighted average life in years for acquired intangible assets

The following table shows the cost, accumulated amortization, and weighted-average life in years for our acquired intangible assets at the dates indicated. The weighted-average lives are calculated for assets that are not fully amortized.

(Dollars in millions)	Customer Lists / User Relationships		Purchased Technology		Trade Names and Logos		Total
At July 31, 2024:
Cost	$	6,196	$	1,648	$	680	$	8,524
Accumulated amortization	(1,605)		(905)		(194)		(2,704)
Acquired intangible assets, net	$	4,591	$	743	$	486	$	5,820
Weighted-average life in years	14		8		13		13
At July 31, 2023:
Cost	$	6,196	$	1,616	$	680	$	8,492
Accumulated amortization	(1,177)		(756)		(140)		(2,073)
Acquired intangible assets, net	$	5,019	$	860	$	540	$	6,419
Weighted-average life in years	14		8		13		13

Expected future amortization expense for acquired intangible assets

The following table shows the expected future amortization expense for our acquired intangible assets at July 31, 2024. Amortization of purchased technology is charged to amortization of acquired technology in our consolidated statements of operations. Amortization of other acquired intangible assets, such as customer lists, is charged to amortization of other acquired intangible assets in our consolidated statements of operations. If impairment events occur, they could accelerate the timing of acquired intangible asset charges.

(In millions)	Expected Future Amortization Expense
Fiscal year ending July 31,
2025	$	630
2026	627
2027	602
2028	586
2029	581
Thereafter	2,794
Total expected future amortization expense	$	5,820