Description of Business and Summary of Significant Accounting Policies (Tables)

9 Months Ended

Apr. 30, 2022

The following table presents the composition of shares used in the computation of basic and diluted net income per share for the periods indicated.


	Three Months Ended				Nine Months Ended
(In millions, except per share amounts)	April 30, 2022		April 30, 2021		April 30, 2022		April 30, 2021
Numerator:


Net income	$	1,794	$	1,464	$	2,122	$	1,682

Denominator:
Shares used in basic per share amounts:
Weighted average common shares outstanding	282		273		279		269

Shares used in diluted per share amounts:
Weighted average common shares outstanding	282		273		279		269
Dilutive common equivalent shares from stock options
and restricted stock awards	4		3		5		2
Dilutive weighted average common shares outstanding	286		276		284		271

Basic and diluted net income per share:


Basic net income per share	$	6.35	$	5.36	$	7.60	$	6.26



Diluted net income per share	$	6.28	$	5.30	$	7.48	$	6.20

Shares excluded from diluted net income per share:


Weighted average stock options and restricted stock units that have been excluded from dilutive common equivalent shares outstanding due to their anti-dilutive effect	2		—		1		—