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Leases (Tables) | 3 Months Ended
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Oct. 31, 2023
Leases [Abstract] |
Components of lease expense | The components of lease expense were as follows:
| Three Months Ended |  |
(In millions) | October 31, 2023 |  | October 31, 2022 |  |  |  |
Operating lease cost (1) | $ | 26 |  |  | $ | 28 |  |  |  |  |
Variable lease cost | 6 |  |  | 4 |  |  |  |  |
Sublease income | (3) |  |  | (3) |  |  |  |  |
Total net lease cost | $ | 29 |  |  | $ | 29 |  |  |  |  |
(1) Includes short-term leases, which were not material for each of the three months ended October 31, 2023 and 2022. Supplemental cash flow information related to operating leases was as follows:
| Three Months Ended
(In millions) | October 31, 2023 |  | October 31, 2022
Cash paid for amounts included in the measurement of operating lease liabilities | $ | 25 |  |  | $ | 23 |
Right-of-use assets obtained in exchange for operating lease liabilities | $ | 14 |  |  | $ | 16 |
Other information related to operating leases was as follows at the dates indicated:
| October 31, 2023 |  | July 31, 2023
Weighted-average remaining lease term for operating leases | 7.9 years |  | 7.9 years
Weighted-average discount rate for operating leases | 3.1 | % |  | 3 | %
Supplemental balance sheet information related to operating leases was as follows at the dates indicated:
(In millions) | October 31, 2023 |  | July 31, 2023
Operating lease right-of-use assets | $ | 457 |  |  | $ | 469 |
Other current liabilities | $ | 84 |  |  | $ | 89 |
Operating lease liabilities | 474 |  |  | 480 |
Total operating lease liabilities | $ | 558 |  |  | $ | 569 |
Future minimum lease payments | Future minimum lease payments under non-cancellable operating leases as of October 31, 2023 were as follows:
(In millions) | Operating Leases (1)
Fiscal year ending July 31, |
2024 (excluding the three months ended October 31, 2023) | $ | 50 |
2025 | 97 |
2026 | 80 |
2027 | 72 |
2028 | 63 |
Thereafter | 285 |
Total future minimum lease payments | 647 |
Less imputed interest | (89) |
Present value of lease liabilities | $ | 558 |
(1) Non-cancellable sublease proceeds for the remainder of the fiscal year ending July 31, 2024 and the fiscal years ending July 31, 2025, 2026, 2027, 2028, and thereafter of $7 million, $6 million, $1 million, $1 million, $1 million, and $2 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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + 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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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