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Long-Term Obligations and Commitments | 9 Months Ended
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Apr. 30, 2020
Debt Disclosure [Abstract] |
Long-Term Obligations and Commitments |
6. Long-Term Obligations and Commitments
Secured Revolving Credit Facility
On February 19, 2019, a subsidiary of Intuit entered into a two-year $300 million secured revolving credit facility with a lender. The revolving credit facility is secured by cash and receivables of the subsidiary and is non-recourse to Intuit Inc. Advances under this secured revolving credit facility are used to fund a portion of our loans to qualified small businesses and accrue interest at LIBOR plus 2.39%. Unused portions of the credit facility accrue interest at a rate of 0.50%. On March 2, 2020, we amended the secured revolving credit facility to extend the commitment term from February 19, 2021 to February 19, 2022 and the final maturity date from August 19, 2021 to August 19, 2022. The agreement includes certain affirmative and negative covenants, including financial covenants that require the subsidiary to maintain specified financial ratios. As of April 30, 2020 we were compliant with all required covenants. At April 30, 2020, $48 million was outstanding under this facility, with a weighted-average interest rate of 6.04%, which includes the unused facility fee. The outstanding balance is secured by cash and receivables of the subsidiary totaling $143 million. Interest on the facility is payable monthly. We paid $3 million for interest on the secured revolving credit facility during the nine months ended April 30, 2020. Interest paid on the secured revolving facility was no t significant during the nine months ended April 30, 2019.
Other Long-Term Obligations
Other long-term obligations were as follows at the dates indicated:
(In millions) | April 30, 2020 |  | July 31, 2019
Long-term income tax liabilities | $ | 7 |  |  | $ | 89 |
Total deferred rent | — |  |  | 47 |
Total dividend payable | 14 |  |  | 11 |
Other | 14 |  |  | 12 |
Total long-term obligations | 35 |  |  | 159 |
Less current portion (included in other current liabilities) | (9 | ) |  | (14 | )
Long-term obligations due after one year | $ | 26 |  |  | $ | 145 |
Unconditional Purchase Obligations
We describe our purchase obligations in Note 8 to the financial statements in Part II, Item 8 of our Annual Report on Form 10-K for the fiscal year ended July 31, 2019. There were no significant changes in our purchase obligations during the nine months ended April 30, 2020.

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