v3.26.1
Fair Value Measurements (Tables)
 12 Months Ended
Jul. 31, 2026
Fair Value Disclosures [Abstract]  
Financial assets measured at fair value on recurring basis
The following table summarizes financial assets that we measured at fair value on a recurring basis at the dates indicated, classified in accordance with the fair value hierarchy described above.
At July 31, 2026At July 31, 2025
(In millions)Level 1Level 2Total
Fair Value		Level 1Level 2Total
Fair Value
Assets:
Cash equivalents, primarily money market funds$3,068 $— $3,068 $1,790 $— $1,790 
Available-for-sale debt securities:
Corporate notes— 869 869 — 502 502 
U.S. agency securities— 1,776 1,776 — 1,316 1,316 
Total available-for-sale debt securities— 2,645 2,645 — 1,818 1,818 
Total assets measured at fair value on a recurring basis$3,068 $2,645 $5,713 $1,790 $1,818 $3,608 
Cash equivalents and available-for-sale debt and equity securities by balance sheet classification and level in the fair value hierarchy
The following table summarizes our cash equivalents and available-for-sale debt securities by balance sheet classification and level in the fair value hierarchy at the dates indicated:
At July 31, 2026At July 31, 2025
(In millions)Level 1Level 2Total
Fair Value		Level 1Level 2Total
Fair Value
Cash equivalents:
In cash and cash equivalents$3,068 $— $3,068 $1,790 $— $1,790 
Available-for-sale debt securities:
In investments$— $2,495 $2,495 $— $1,668 $1,668 
In funds receivable and amounts held for customers— 150 150 — 150 150 
Total available-for-sale debt securities$— $2,645 $2,645 $— $1,818 $1,818 
Carrying value of long-term investments.
The following table summarizes the adjustments to the carrying value of our long-term investments.
July 31,
(In millions)202620252024
Upward adjustments
$173 $11 $4 
Downward adjustments, including impairments
— (51)(2)
Net adjustments
$173 $(40)$2