Debt (Tables)

9 Months Ended

Apr. 30, 2026

The carrying value of our debt was as follows at the dates indicated:


(Dollars in millions)	April 30, 2026		July 31, 2025		Effective Interest Rate
Senior unsecured notes issued June 2020:
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	1,200		1,014
Total principal balance of debt	6,200		6,014
Unamortized discount and debt issuance costs	(38)		(41)
Net carrying value of debt	$	6,162	$	5,973

Short-term debt	$	750	$	—
Long-term debt	$	5,412	$	5,973

Schedule of Maturities of Long-Term Debt

Future principal payments for debt at April 30, 2026 were as shown in the table below.


(In millions)	Future Principal Payments
Fiscal year ending July 31,
2026 (excluding the nine months ended April 30, 2026)	$	—
2027	1,250
2028	400
2029	1,250
2030	800
Thereafter	2,500
Total future principal payments for debt	$	6,200

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details