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Debt (Tables) | 12 Months Ended
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Jul. 31, 2025
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
(Dollars in millions) | 2025 |  | 2024 |  | Interest Rate
Senior unsecured notes issued June 2020: |  |  |  |  |
0.950% notes due July 2025 | $ | — |  |  | $ | 500 |  |  | 1.127%
1.350% notes due July 2027 | 500 |  |  | 500 |  |  | 1.486%
1.650% notes due July 2030 | 500 |  |  | 500 |  |  | 1.767%
Senior unsecured notes issued September 2023: |  |  |  |  |
5.250% notes due September 2026 | 750 |  |  | 750 |  |  | 5.325%
5.125% notes due September 2028 | 750 |  |  | 750 |  |  | 5.258%
5.200% notes due September 2033 | 1,250 |  |  | 1,250 |  |  | 5.312%
5.500% notes due September 2053 | 1,250 |  |  | 1,250 |  |  | 5.576%
Secured revolving credit facilities | 1,014 |  |  | 585 |  |  |
Total principal balance of debt | 6,014 |  |  | 6,085 |  |  |
Unamortized discount and debt issuance costs | (41) |  |  | (47) |  |  |
Net carrying value of debt | $ | 5,973 |  |  | $ | 6,038 |  |  |
Short-term debt | $ | — |  |  | $ | 499 |  |  |
Long-term debt | $ | 5,973 |  |  | $ | 5,539 |  |  |
Future principal payments for long-term debt | Future principal payments for debt at July 31, 2025 were as shown in the table below.
(In millions) |
Fiscal year ending July 31, |
2026 | $ | — |
2027 | 1,250 |
2028 | 300 |
2029 | 1,464 |
2030 | 500 |
Thereafter | 2,500 |
Total future principal payments for debt | $ | 6,014 |

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