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Fair Value Measurements - Recurring Basis (Details) - USD ($) $ in Millions | Apr. 30, 2021 | Jul. 31, 2020
--- | --- | ---
Assets: |  |
Cash equivalents, primarily money market funds and time deposits | $ 3,164 | $ 6,442
Available-for-sale debt securities: | 1,152 | 808
Long-term debt | 2,033 | 2,031
Senior Unsecured Notes |  |
Assets: |  |
Long-term debt | 1,990 | 1,980
Fair value, measurements, recurring |  |
Assets: |  |
Cash equivalents, primarily money market funds and time deposits | 2,090 | 5,765
Available-for-sale debt securities: | 1,152 | 808
Total assets measured at fair value on a recurring basis | 3,242 | 6,573
Fair value, measurements, recurring | Senior Unsecured Notes |  |
Assets: |  |
Senior unsecured notes | 1,980 | 2,042
Fair value, measurements, recurring | Level 1 |  |
Assets: |  |
Cash equivalents, primarily money market funds and time deposits | 2,090 | 5,765
Available-for-sale debt securities: | 0 | 0
Total assets measured at fair value on a recurring basis | 2,090 | 5,765
Fair value, measurements, recurring | Level 1 | Senior Unsecured Notes |  |
Assets: |  |
Senior unsecured notes | 0 | 0
Fair value, measurements, recurring | Level 2 |  |
Assets: |  |
Cash equivalents, primarily money market funds and time deposits | 0 | 0
Available-for-sale debt securities: | 1,152 | 808
Total assets measured at fair value on a recurring basis | 1,152 | 808
Fair value, measurements, recurring | Level 2 | Senior Unsecured Notes |  |
Assets: |  |
Senior unsecured notes | 1,980 | 2,042
Fair value, measurements, recurring | Municipal bonds |  |
Assets: |  |
Available-for-sale debt securities: | 34 | 9
Fair value, measurements, recurring | Municipal bonds | Level 1 |  |
Assets: |  |
Available-for-sale debt securities: | 0 | 0
Fair value, measurements, recurring | Municipal bonds | Level 2 |  |
Assets: |  |
Available-for-sale debt securities: | 34 | 9
Fair value, measurements, recurring | Corporate notes |  |
Assets: |  |
Available-for-sale debt securities: | 1,061 | 752
Fair value, measurements, recurring | Corporate notes | Level 1 |  |
Assets: |  |
Available-for-sale debt securities: | 0 | 0
Fair value, measurements, recurring | Corporate notes | Level 2 |  |
Assets: |  |
Available-for-sale debt securities: | 1,061 | 752
Fair value, measurements, recurring | U.S. agency securities |  |
Assets: |  |
Available-for-sale debt securities: | 57 | 47
Fair value, measurements, recurring | U.S. agency securities | Level 1 |  |
Assets: |  |
Available-for-sale debt securities: | 0 | 0
Fair value, measurements, recurring | U.S. agency securities | Level 2 |  |
Assets: |  |
Available-for-sale debt securities: | $ 57 | $ 47

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- Definition Fair value portion of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. + References No definition available. + Details
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