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Leases (Tables)

9 Months Ended

Apr. 30, 2022

Leases [Abstract]

Components of lease expense

The components of lease expense were as follows:

			Three Months Ended												Nine Months Ended
(In millions)			April 30, 2022						April 30, 2021						April 30, 2022						April 30, 2021
Operating lease cost (1)			$	25					$	21					$	71					$	54
Variable lease cost			4						2						11						8
Sublease income			(4)						(4)						(14)						(12)
Total net lease cost			$	25					$	19					$	68					$	50

(1)    Includes short-term leases, which were not significant for each of the three and nine months ended April 30, 2022 and 2021.

Supplemental cash flow information related to operating leases was as follows:

			Nine Months Ended
(In millions)			April 30, 2022						April 30, 2021
Cash paid for amounts included in the measurement of operating lease liabilities			$	77					$	52
Right-of-use assets obtained in exchange for operating lease liabilities			$	81					$	32

Other information related to operating leases was as follows at the dates indicated:

			April 30, 2022						July 31, 2021
Weighted-average remaining lease term for operating leases			6.8 years						6.8 years
Weighted-average discount rate for operating leases			2.3		%				2.3		%

Supplemental balance sheet information related to operating leases was as follows at the dates indicated:

(In millions)			April 30, 2022						July 31, 2021
Operating lease right-of-use assets			$	425					$	380
Other current liabilities			$	77					$	66
Operating lease liabilities			415						380
Total operating lease liabilities			$	492					$	446

Future minimum lease payments

Future minimum lease payments under non-cancellable operating leases as of April 30, 2022 were as follows:

(In millions)			Operating Leases (1)
Fiscal year ending July 31,
2022 (excluding the nine months ended April 30, 2022)			$	12
2023			100
2024			92
2025			74
2026			55
Thereafter			199
Total future minimum lease payments			532
Less imputed interest			(40)
Present value of lease liabilities			$	492

(1)    Non-cancellable sublease proceeds for the remainder of the fiscal year ending July 31, 2022 and the fiscal years ending July 31, 2023, 2024, and 2025, of $3 million, $10 million, $8 million, and $4 million, respectively, are not included in the table above.

X

- 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=123408670&loc=SL77918686-209980

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X

- References

No definition available.

+ Details

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X

- 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=123408670&loc=SL77918701-209980

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