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Leases (Tables) | 12 Months Ended
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Jul. 31, 2020
Leases [Abstract] |
Components of Lease Expense | The components of lease expense were as follows:
| Twelve Months Ended
(In millions) | July 31, 2020
Operating lease cost (1) | $ | 69 |
Variable lease cost | 13 |
Sublease income | (22 | )
Total net lease cost | $ | 60 |
Supplemental balance sheet information related to operating leases was as follows at the date indicated:
(In millions) | July 31, 2020
Operating lease right-of-use assets | $ | 226 |
Other current liabilities | $ | 46 |
Operating lease liabilities | 221 |
Total operating lease liabilities | $ | 267 |
Supplemental cash flow information related to operating leases was as follows:
| Twelve Months Ended
| July 31, 2020
(In millions) |
Cash paid for amounts included in the measurement of operating lease liabilities | $ | 70 |
Right-of-use assets obtained in exchange for new operating lease liabilities (1) | $ | 346 |
(1) | For the twelve months ended July 31, 2020, this includes $319 million for operating leases existing on August 1, 2019 and $27 million for operating leases that commenced during fiscal 2020.
Other information related to operating leases was as follows at the date indicated:
| July 31, 2020
Weighted-average remaining lease term for operating leases (in years) | 5.5 |
Weighted-average discount rate for operating leases | 3.1 | %
Future Minimum Lease Payments | Future minimum lease payments under non-cancellable operating leases as of July 31, 2020 were as follows:
(In millions) | Operating Leases (1)
Fiscal year ending July 31, |
2021 | $ | 53 |
2022 | 57 |
2023 | 51 |
2024 | 49 |
2025 | 38 |
Thereafter | 43 |
Total future minimum lease payments | 291 |
Less imputed interest | (24 | )
Present value of lease liabilities | $ | 267 |
(1) Non-cancellable sublease proceeds for the fiscal years ending July 31, 2021, 2022, 2023, 2024, and 2025 of $15 million, $10 million, $2 million, $1 million, and $1 million, respectively, are not included in the table above.

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980 + Details
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