Fair Value Measurements (Tables)

3 Months Ended

Oct. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes financial assets 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, 2025						July 31, 2025
(In millions)	Level 1		Level 2		Total Fair Value		Level 1		Level 2		Total Fair Value
Assets:
Cash equivalents, primarily money market funds	$	2,330	$	—	$	2,330	$	1,790	$	—	$	1,790
Available-for-sale debt securities:
Corporate notes	—		335		335		—		502		502
U.S. agency securities	—		5		5		—		1,316		1,316
Total available-for-sale debt securities	—		340		340		—		1,818		1,818
Total assets measured at fair value on a recurring basis	$	2,330	$	340	$	2,670	$	1,790	$	1,818	$	3,608

Schedule of Cash Equivalents and Available-for-sale Debt and Equity Securities

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, 2025						July 31, 2025
(In millions)	Level 1		Level 2		Total Fair Value		Level 1		Level 2		Total Fair Value
Cash equivalents:
In cash and cash equivalents	$	2,330	$	—	$	2,330	$	1,790	$	—	$	1,790
Available-for-sale debt securities:
In investments	$	—	$	190	$	190	$	—	$	1,668	$	1,668
In funds receivable and amounts held for customers	—		150		150		—		150		150
Total available-for-sale debt securities	$	—	$	340	$	340	$	—	$	1,818	$	1,818

Equity Securities without Readily Determinable Fair Value

The following table summarizes the adjustments to the carrying value of our long-term investments.

	Three Months Ended
(In millions)	October 31, 2025		October 31, 2024
Upward adjustments	$	27	$	—
Downward adjustments, including impairments	—		(42)
Net adjustments	$	27	$	(42)