XML 29 R10.htm IDEA: XBRL DOCUMENT
v3.20.1

Cash and Cash Equivalents, Investments, and Funds Held for Customers | 9 Months Ended
--- | ---
Apr. 30, 2020
Cash and Cash Equivalents, Investments and Funds Held for Customers [Abstract] |
Cash and Cash Equivalents, Investments, and Funds Held for Customers |
3. Cash and Cash Equivalents, Investments, and Funds 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 time deposits, savings deposit accounts, and money market funds. Investments consist primarily of investment-grade available-for-sale debt securities. Funds held for customers represent cash held on behalf of our customers that is 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. Except for direct obligations of the United States government, securities issued by agencies of the United States 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 held for customers by balance sheet classification at the dates indicated.
| April 30, 2020 |  | July 31, 2019
(In millions) | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Classification on condensed consolidated balance sheets: |  |  |  |  |  |  |
Cash and cash equivalents | $ | 3,371 |  |  | $ | 3,371 |  |  | $ | 2,116 |  |  | $ | 2,116 |
Investments | 597 |  |  | 600 |  |  | 622 |  |  | 624 |
Funds held for customers | 388 |  |  | 389 |  |  | 436 |  |  | 436 |
Long-term investments | 19 |  |  | 19 |  |  | 13 |  |  | 13 |
Total cash and cash equivalents, investments, and funds held for customers | $ | 4,375 |  |  | $ | 4,379 |  |  | $ | 3,187 |  |  | $ | 3,189 |
The following table summarizes our cash and cash equivalents, investments, and funds held for customers by investment category at the dates indicated.
| April 30, 2020 |  | July 31, 2019
(In millions) | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Type of issue: |  |  |  |  |  |  |
Total cash, cash equivalents, restricted cash, and restricted cash equivalents | $ | 3,560 |  |  | $ | 3,560 |  |  | $ | 2,352 |  |  | $ | 2,352 |
Available-for-sale debt securities: |  |  |  |  |  |  |
Municipal bonds | 8 |  |  | 8 |  |  | 5 |  |  | 5 |
Corporate notes | 762 |  |  | 765 |  |  | 798 |  |  | 800 |
U.S. agency securities | 26 |  |  | 27 |  |  | 19 |  |  | 19 |
Total available-for-sale debt securities | 796 |  |  | 800 |  |  | 822 |  |  | 824 |
Other long-term investments | 19 |  |  | 19 |  |  | 13 |  |  | 13 |
Total cash, cash equivalents, restricted cash, restricted cash equivalents, and investments | $ | 4,375 |  |  | $ | 4,379 |  |  | $ | 3,187 |  |  | $ | 3,189 |
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 on our condensed consolidated statements of operations. Gross realized gains and losses on our available-for-sale debt securities for the three and nine months ended April 30, 2020 and April 30, 2019 were no t significant. 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. Gross unrealized gains and losses on our available-for-sale debt securities at April 30, 2020 and July 31, 2019 were no t significant. We periodically review our investment portfolios to determine if any investment is other-than-temporarily impaired due to changes in credit risk or other potential valuation concerns. We believe that the investments we held at April 30, 2020 were not other-than-temporarily impaired. Unrealized losses on available-for-sale debt securities at April 30, 2020 were not significant and were due to changes in interest rates, including market credit spreads, and not due to increased credit risks associated with specific securities. 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 at par, which may be at maturity. The following table summarizes our available-for-sale debt securities, included in investments and funds held for customers, classified by the stated maturity date of the security at the dates indicated.
| April 30, 2020 |  | July 31, 2019
(In millions) | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Due within one year | $ | 386 |  |  | $ | 387 |  |  | $ | 415 |  |  | $ | 416 |
Due within two years | 243 |  |  | 245 |  |  | 208 |  |  | 208 |
Due within three years | 146 |  |  | 147 |  |  | 163 |  |  | 164 |
Due after three years | 21 |  |  | 21 |  |  | 36 |  |  | 36 |
Total available-for-sale debt securities | $ | 796 |  |  | $ | 800 |  |  | $ | 822 |  |  | $ | 824 |
The following table summarizes our funds held for customers by investment category at the dates indicated.
| April 30, 2020 |  | July 31, 2019
(In millions) |  |  |
Restricted cash and restricted cash equivalents | $ | 189 |  |  | $ | 236 |
Restricted available-for-sale debt securities | 200 |  |  | 200 |
Total funds held for customers | $ | 389 |  |  | $ | 436 |
| April 30, 2019 |  | July 31, 2018
(In millions) |  |  |
Restricted cash and restricted cash equivalents | $ | 183 |  |  | $ | 167 |
Restricted available-for-sale debt securities | 200 |  |  | 200 |
Total funds held for customers | $ | 383 |  |  | $ | 367 |

X
- Definition Cash and Cash Equivalents, Investments and Funds Held for Customers. + References No definition available. + Details
Name: | intu_CashAndCashEquivalentsInvestmentsAndFundsHeldForCustomersAbstract
Namespace Prefix: | intu_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Cash and cash equivalents, investments and funds held for customers by balance sheet classification. + References No definition available. + Details
Name: | intu_CashAndCashEquivalentsInvestmentsAndFundsHeldForCustomersTextBlock
Namespace Prefix: | intu_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration