XML 28 R10.htm IDEA: XBRL DOCUMENT v3.25.0.1
Cash and Cash Equivalents, Investments, and Funds Receivable and Amounts Held for Customers
 6 Months Ended
Jan. 31, 2025
Cash And Cash Equivalents, Investments, And Funds Receivable And Amounts Held For Customers [Abstract]  
Cash and Cash Equivalents, Investments, and Funds Receivable and Amounts Held for Customers
3. Cash and Cash Equivalents, Investments, and Funds Receivable and Amounts Held for Customers
We consider highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents. In all periods presented, cash equivalents consist primarily of money market funds. Investments consist primarily of investment-grade available-for-sale debt securities. Funds receivable and amounts held for customers represent funds receivable from third-party payment processors for customer transactions, funds in transit to our customers, and funds held on behalf of our customers that are invested in cash and cash equivalents and investment-grade available-for-sale securities, restricted for use solely for the purpose of satisfying amounts we owe on behalf of our customers. Our obligations with respect to funds we transmit on behalf of our customers are satisfied when the funds are settled in the customers' accounts. These obligations, including funds in transit to our customers, are reflected in funds payable and amounts due to customers in the accompanying condensed consolidated balance sheets.
Except for direct obligations of the U.S. government, securities issued by agencies of the U.S. government, and money market funds, we diversify our investments in debt securities by limiting our holdings with any individual issuer.
The following table summarizes our cash and cash equivalents, investments, and funds receivable and amounts held for customers by balance sheet classification at the dates indicated.
 January 31, 2025July 31, 2024
(In millions)Amortized
Cost		Fair ValueAmortized
Cost		Fair Value
Classification on condensed consolidated balance sheets:    
Cash and cash equivalents$2,435 $2,435 $3,609 $3,609 
Investments24 24 465 465 
Funds receivable and amounts held for customers3,334 3,334 3,921 3,921 
Total cash and cash equivalents, investments, and funds receivable and amounts held for customers$5,793 $5,793 $7,995 $7,995 
The following table summarizes our cash and cash equivalents, investments, and relevant portion of funds receivable and amounts held for customers by investment category at the dates indicated. As of January 31, 2025 and July 31, 2024, this excludes $277 million and $281 million, respectively, of funds receivable on our condensed consolidated balance sheets in funds receivable and amounts held for customers that were not measured and recorded at fair value.
 January 31, 2025July 31, 2024
(In millions)Amortized
Cost		Fair ValueAmortized
Cost		Fair Value
Type of issue:    
Total cash, cash equivalents, restricted cash,
and restricted cash equivalents		$5,342 $5,342 $7,099 $7,099 
Available-for-sale debt securities:
Corporate notes158 159 456 456 
U.S. agency securities16 15 159 159 
Total available-for-sale debt securities174 174 615 615 
Total cash, cash equivalents, restricted cash, restricted cash equivalents, and investments$5,516 $5,516 $7,714 $7,714 
We use the specific identification method to compute gains and losses on investments. We include realized gains and losses on our available-for-sale debt securities in interest and other income, net in our condensed consolidated statements of operations. Gross realized gains and losses on our available-for-sale debt securities for the six months ended January 31, 2025 and January 31, 2024 were not material.
We accumulate unrealized gains and losses on our available-for-sale debt securities, net of tax, in accumulated other comprehensive income or loss in the stockholders’ equity section of our condensed consolidated balance sheets, except for certain unrealized losses described below. Gross unrealized gains and losses on our available-for-sale debt securities at January 31, 2025 and July 31, 2024 were not material.
For available-for-sale debt securities in an unrealized loss position, we determine whether a credit loss exists. The estimate of the credit loss is determined by considering available information relevant to the collectibility of the security and information about past events, current conditions, and reasonable and supportable forecasts. The allowance for credit loss is recorded to interest and other income, net in our condensed consolidated statements of operations, not to exceed the amount of the unrealized loss. Any excess unrealized loss greater than the allowance for credit loss at a security level is recognized in accumulated other comprehensive income or loss in the stockholders' equity section of our condensed consolidated balance sheets. We determined there were no credit losses related to available-for-sale debt securities as of January 31, 2025. Unrealized losses on available-for-sale debt securities at January 31, 2025 were not material. We do not intend to sell these investments. In addition, it is more likely than not that we will not be required to sell them before recovery of the amortized cost basis, which may be at maturity.
The following table summarizes our available-for-sale debt securities, included in investments and relevant portion of funds receivable and amounts held for customers, classified by the stated maturity date of the security at the dates indicated.
 January 31, 2025July 31, 2024
(In millions)Amortized
Cost		Fair ValueAmortized
Cost		Fair Value
Due within one year$72 $71 $517 $516 
Due within two years57 58 55 56 
Due within three years45 45 43 43 
Total available-for-sale debt securities$174 $174 $615 $615 
The following table summarizes our funds receivable and amounts held for customers by asset category at the dates indicated.
(In millions)January 31, 2025July 31,
2024
Restricted cash and restricted cash equivalents$2,907 $3,490 
Restricted available-for-sale debt securities and funds receivable427 431 
Total funds receivable and amounts held for customers$3,334 $3,921 
(In millions)January 31, 2024July 31,
2023
Restricted cash and restricted cash equivalents$2,967 $4 
Restricted available-for-sale debt securities and funds receivable423 416 
Total funds receivable and amounts held for customers$3,390 $420