v3.26.1
Property and Equipment
 12 Months Ended
Jul. 31, 2026
Property, Plant, and Equipment [Abstract]  
Property and Equipment
5. Property and Equipment
Property and equipment consisted of the following at the dates indicated:
Life inJuly 31,
(Dollars in millions)Years20262025
Buildings
5-30
$701 $644 
Software
2-6
691 791 
Leasehold improvements
2-16
451 479 
Equipment
3-5
178 175 
Furniture and fixtures5141 139 
Land
–
96 96 
Capital in progress–146 39 
Total property and equipment2,404 2,363 
Less accumulated depreciation and amortization(1,381)(1,402)
Total property and equipment, net$1,023 $961 
Capital in progress at July 31, 2026 and 2025, consisted primarily of costs related to various buildings and site improvements that have not yet been placed into service.
As discussed in Note 1, “Description of Business and Summary of Significant Accounting Policies – Internal Use Software,” we capitalize costs related to the development of software for internal use. We capitalized internal use software costs totaling $46 million for the twelve months ended July 31, 2026; $40 million for the twelve months ended July 31, 2025; and $59 million for the twelve months ended July 31, 2024. There was no capitalized labor in these amounts for the twelve months ended July 31, 2026, 2025, and 2024. Costs related to internal use software projects are included in the capital in progress category of property and equipment until project completion, at which time they are transferred to the software category.