Leases (Tables)

9 Months Ended

Apr. 30, 2026

The components of lease expense were as follows:


	Three Months Ended				Nine Months Ended
(In millions)	April 30, 2026		April 30, 2025		April 30, 2026		April 30, 2025
Operating lease cost (1)	$	36	$	28	$	101	$	82

Variable lease cost	6		5		18		15
Sublease income	(2)		(2)		(6)		(8)
Total net lease cost	$	40	$	31	$	113	$	89

(1)Includes short-term leases, which were not material for the three and nine months ended April 30, 2026 and 2025.

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


	Nine Months Ended
(In millions)	April 30, 2026		April 30, 2025
Cash paid for amounts included in the measurement of operating lease liabilities	$	88	$	78
Right-of-use assets obtained in exchange for operating lease liabilities	$	140	$	210

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


	April 30, 2026		July 31, 2025
Weighted-average remaining lease term for operating leases	7.4 years		8.1 years
Weighted-average discount rate for operating leases	4.3	%	3.8	%

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


(In millions)	April 30, 2026		July 31, 2025

Operating lease right-of-use assets	$	601	$	541

Other current liabilities	$	83	$	69
Operating lease liabilities	655		597
Total operating lease liabilities	$	738	$	666

Schedule of Future Payments

Future minimum lease payments under noncancellable operating leases as of April 30, 2026 were as follows:


(In millions)	Operating Leases (1)
Fiscal year ending July 31,
2026 (excluding the nine months ended April 30, 2026)	$	21
2027	120
2028	122
2029	126
2030	116
Thereafter	373
Total future minimum lease payments	878
Less imputed interest	(140)
Present value of lease liabilities	$	738

(1)Noncancellable future sublease proceeds as of April 30, 2026 totaled $17 million through July 31, 2030 and $1 million thereafter, and are not included in the table above.