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Leases (Tables) | 9 Months Ended
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Apr. 30, 2021
Leases [Abstract] |
Components of Lease Expense | The components of lease expense were as follows:
| Three Months Ended |  | Nine Months Ended
(In millions) | April 30, 2021 |  | April 30, 2020 |  | April 30, 2021 |  | April 30, 2020
Operating lease cost (1) | $ | 21 |  |  | $ | 16 |  |  | $ | 54 |  |  | $ | 53 |
Variable lease cost | 2 |  |  | 3 |  |  | 8 |  |  | 9 |
Sublease income | (4) |  |  | (5) |  |  | (12) |  |  | (19) |
Total net lease cost | $ | 19 |  |  | $ | 14 |  |  | $ | 50 |  |  | $ | 43 |
(1) Includes short-term leases, which were not significant for each of the three and nine months ended April 30, 2021 and 2020. Supplemental cash flow information related to operating leases was as follows:
| Nine Months Ended
(In millions) | April 30, 2021 |  | April 30, 2020
Cash paid for amounts included in the measurement of operating lease liabilities | $ | 52 |  |  | $ | 50 |
Right-of-use assets obtained in exchange for new operating lease liabilities (1) | $ | 32 |  |  | $ | 328 |
(1) For the nine months ended April 30, 2020, this includes $319 million for operating leases existing on August 1, 2019 and $9 million for operating leases that commenced in the first nine months of fiscal 2020. Other information related to operating leases was as follows at the dates indicated:
| April 30, 2021 |  | July 31, 2020
Weighted-average remaining lease term for operating leases | 6.6 years |  | 5.5 years
Weighted-average discount rate for operating leases | 2.3 | % |  | 3.1 | %
Supplemental balance sheet information related to operating leases was as follows at the dates indicated:
(In millions) | April 30, 2021 |  | July 31, 2020
Operating lease right-of-use assets | $ | 370 |  |  | $ | 226 |
Other current liabilities | $ | 74 |  |  | $ | 46 |
Operating lease liabilities | 365 |  |  | 221 |
Total operating lease liabilities | $ | 439 |  |  | $ | 267 |
Future Minimum Lease Payments | Future minimum lease payments under non-cancellable operating leases as of April 30, 2021 were as follows:
(In millions) | Operating Leases (1)
Fiscal year ending July 31, |
2021 (excluding the nine months ended April 30, 2021) | $ | 17 |
2022 | 88 |
2023 | 78 |
2024 | 74 |
2025 | 59 |
Thereafter | 157 |
Total future minimum lease payments | 473 |
Less imputed interest | (34) |
Present value of lease liabilities | $ | 439 |
(1) Non-cancellable sublease proceeds for the remainder of the fiscal year ending July 31, 2021 and the fiscal years ending July 31, 2022, 2023, 2024, and 2025, of $3 million, $9 million, $3 million, $2 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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