Leases (Tables)

3 Months Ended

Oct. 31, 2025

Leases [Abstract]

Schedule of Components of Lease Expense

The components of lease expense were as follows:

	Three Months Ended
(In millions)	October 31, 2025		October 31, 2024
Operating lease cost (1)	$	31	$	29
Variable lease cost	6		5
Sublease income	(2)		(3)
Total net lease cost	$	35	$	31

(1)Includes short-term leases, which were not material for the three months ended October 31, 2025 and 2024.

Supplemental cash flow information related to operating leases was as follows:

	Three Months Ended
(In millions)	October 31, 2025		October 31, 2024
Cash paid for amounts included in the measurement of operating lease liabilities	$	30	$	27
Right-of-use assets obtained in exchange for operating lease liabilities	$	79	$	150

Other information related to operating leases was as follows at the dates indicated:

	October 31, 2025		July 31, 2025
Weighted-average remaining lease term for operating leases	8.0 years		8.1 years
Weighted-average discount rate for operating leases	4.2	%	3.8	%

Supplemental balance sheet information related to operating leases was as follows at the dates indicated:

(In millions)	October 31, 2025		July 31, 2025
Operating lease right-of-use assets	$	596	$	541
Other current liabilities	$	78	$	69
Operating lease liabilities	643		597
Total operating lease liabilities	$	721	$	666

Schedule of Future Payments

Future minimum lease payments under noncancellable operating leases as of October 31, 2025 were as follows:

(In millions)	Operating Leases (1)
Fiscal year ending July 31,
2026 (excluding the three months ended October 31, 2025)	$	63
2027	114
2028	106
2029	110
2030	108
Thereafter	370
Total future minimum lease payments	871
Less imputed interest	(150)
Present value of lease liabilities	$	721

(1)Noncancellable future sublease proceeds as of October 31, 2025 totaled $20 million through July 31, 2030 and $1 million thereafter, and are not included in the table above.