v3.26.1
Fair Value Measurements (Tables)
 12 Months Ended
Jul. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Financial Assets and Liabilities
The following table presents our financial assets and liabilities measured at fair value on a recurring basis as of July 31, 2026 and 2025 (in millions):
July 31, 2026July 31, 2025
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Cash equivalents:
Money market funds $1,514 $— $— $1,514 $1,206 $— $— $1,206 
Commercial paper— 123 — 123 — 169 — 169 
Total cash equivalents1,514 123 — 1,637 1,206 169 — 1,375 
Short-term investments:
Commercial paper— 10 — 10 — 15 — 15 
Corporate debt securities— 374 — 374 — 584 — 584 
U.S. government and agency securities— 2 — 2 — 6 — 6 
Non-U.S. government and agency securities— — — — — 3 — 3 
Asset-backed securities— 6 — 6 — 22 — 22 
Total short-term investments— 392 — 392 — 630 — 630 
Long-term investments:
Corporate debt securities— 3,843 — 3,843 — 4,050 — 4,050 
U.S. government and agency securities— 68 — 68 — 164 — 164 
Non-U.S. government and agency securities— 21 — 21 — 26 — 26 
Asset-backed securities— 903 — 903 — 1,315 — 1,315 
Total long-term investments— 4,835 — 4,835 — 5,555 — 5,555 
Prepaid expenses and other current assets:
Foreign currency forward contracts— 18 — 18 — 58 — 58 
Total prepaid expenses and other current assets— 18 — 18 — 58 — 58 
Other assets:
Foreign currency forward contracts— — — — — 3 — 3 
Capped calls related to convertible senior notes— 153 — 153 — — — — 
Total other assets— 153 — 153 — 3 — 3 
Total assets measured at fair value$1,514 $5,521 $— $7,035 $1,206 $6,415 $— $7,621 
July 31, 2026July 31, 2025
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Accrued and other liabilities:
Foreign currency forward contracts$— $24 $— $24 $— $4 $— $4 
Deferred compensation liability
5 — — 5 2 — — 2 
Contingent consideration
— — 116 116 — — 276 276 
Total accrued and other liabilities5 24 116 145 2 4 276 282 
Long-term convertible senior notes— 1,774 — 1,774 — — — — 
Other long-term liabilities:
Deferred compensation liability
400 — — 400 57 — — 57 
Contingent consideration
— — 90 90 — — 238 238 
Total other long-term liabilities400 — 90 490 57 — 238 295 
Total liabilities measured at fair value$405 $1,798 $206 $2,409 $59 $4 $514 $577 
Schedule of Reconciliation Beginning and Ending Amount of Contingent Consideration Liabilities
The following table presents a reconciliation of our contingent consideration liability (in millions):
Year Ended July 31,
20262025
Contingent consideration liability at the beginning of the period
$514 $— 
Initial valuation on the acquisition date
— 649 
Change in fair value
(117)(135)
Payments(191)— 
Contingent consideration liability at the end of the period
$206 $514