XML 48 R31.htm IDEA: XBRL DOCUMENT v3.24.3
Leases (Tables)
3 Months Ended
Oct. 31, 2024
Leases [Abstract]  
Schedule of Components of Lease Expense
The components of lease expense were as follows:
Three Months Ended
(In millions)October 31,
2024
October 31,
2023
Operating lease cost (1)
$29 $26 
Variable lease cost
Sublease income(3)(3)
Total net lease cost$31 $29 
(1)    Includes short-term leases, which were not material for each of the three months ended October 31, 2024 and 2023.
Supplemental cash flow information related to operating leases was as follows:
Three Months Ended
(In millions)October 31,
2024
October 31,
2023
Cash paid for amounts included in the measurement of operating lease liabilities$27 $25 
Right-of-use assets obtained in exchange for operating lease liabilities$150 $14 
Other information related to operating leases was as follows at the dates indicated:
October 31,
2024
July 31,
2024
Weighted-average remaining lease term for operating leases8.3 years7.7 years
Weighted-average discount rate for operating leases3.7 %3.3 %
Supplemental balance sheet information related to operating leases was as follows at the dates indicated:
(In millions)October 31,
2024
July 31,
2024
Operating lease right-of-use assets$538 $411 
Other current liabilities$65 $71 
Operating lease liabilities592 458 
Total operating lease liabilities$657 $529 
Schedule of Future Payments
Future minimum lease payments under non-cancellable operating leases as of October 31, 2024 were as follows:
(In millions)
Operating
Leases (1)
Fiscal year ending July 31, 
2025 (excluding the three months ended October 31, 2024)$59 
202697 
202795 
202888 
202991 
Thereafter347 
Total future minimum lease payments777 
Less imputed interest(120)
Present value of lease liabilities$657 
(1)    Non-cancellable sublease proceeds for the remainder of the fiscal year ending July 31, 2025 and the fiscal years ending July 31, 2026, 2027, 2028, 2029, and thereafter of $4 million, $3 million, $3 million, $2 million, $2 million, and $2 million, respectively, are not included in the table above.