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Debt (Tables) | 12 Months Ended
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Jul. 31, 2023
Debt Disclosure [Abstract] |
Carrying value of debt | The carrying value of our debt was as follows at the dates indicated:
| July 31, |  | July 31, |  | Effective
(In millions) | 2023 |  | 2022 |  | Interest Rate
Senior unsecured notes issued June 2020: |  |  |  |  |
0.650% notes due July 2023 | $ | — |  |  | $ | 500 |  |  | 0.837%
0.950% notes due July 2025 | 500 |  |  | 500 |  |  | 1.127%
1.350% notes due July 2027 | 500 |  |  | 500 |  |  | 1.486%
1.650% notes due July 2030 | 500 |  |  | 500 |  |  | 1.767%
Term loan | 4,200 |  |  | 4,700 |  |  |
Secured revolving credit facilities | 430 |  |  | 230 |  |  |
Total principal balance of debt | 6,130 |  |  | 6,930 |  |  |
Unamortized discount and debt issuance costs | (10) |  |  | (16) |  |  |
Net carrying value of debt | $ | 6,120 |  |  | $ | 6,914 |  |  |
Short-term debt | $ | — |  |  | $ | 499 |  |  |
Long-term debt | $ | 6,120 |  |  | $ | 6,415 |  |  |
Future principal payments for long-term debt | Future principal payments for debt at July 31, 2023 were as shown in the table below.
(In millions) |
Fiscal year ending July 31, |
2024 | $ | — |
2025 | 4,700 |
2026 | 430 |
2027 | 500 |
2028 | — |
Thereafter | 500 |
Total future principal payments for debt | $ | 6,130 |

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