Palo Alto Networks (PANW) 10-Q 14 Feb 25 2025 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares shares in Millions	6 Months Ended
	Jan. 31, 2025	Feb. 07, 2025
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jan. 31, 2025
Document Transition Report	false
Entity File Number	001-35594
Entity Registrant Name	PALO ALTO NETWORKS, INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-2530195
Entity Address, Address Line One	3000 Tannery Way
Entity Address, City or Town	Santa Clara
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95054
City Area Code	408
Local Phone Number	753-4000
Title of 12(b) Security	Common stock, $0.0001 par value per share
Trading Symbol	PANW
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Emerging Growth Company	false
Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		662.1
Entity Central Index Key	0001327567
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q2
Document Fiscal Year End Date	--07-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jan. 31, 2025	Jul. 31, 2024
Current assets:
Cash and cash equivalents	$ 2,226.3	$ 1,535.2
Short-term investments	1,006.6	1,043.6
Accounts receivable, net of allowance for credit losses of $8.5 and $7.5 as of January 31, 2025 and July 31, 2024, respectively	1,495.5	2,618.6
Short-term financing receivables, net	754.9	725.9
Short-term deferred contract costs	376.1	369
Prepaid expenses and other current assets	480.4	557.4
Total current assets	6,339.8	6,849.7
Property and equipment, net	358.2	361.1
Operating lease right-of-use assets	372.9	385.9
Long-term investments	4,559.8	4,173.2
Long-term financing receivables, net	1,163.8	1,182.1
Long-term deferred contract costs	523.4	562
Goodwill	4,050.8	3,350.1
Intangible assets, net	771.4	374.9
Deferred tax assets	2,446.9	2,399
Other assets	364.7	352.9
Total assets	20,951.7	19,990.9
Current liabilities:
Accounts payable	149.3	116.3
Accrued compensation	491.6	554.7
Accrued and other liabilities	777.6	506.7
Deferred revenue	5,599.9	5,541.1
Convertible senior notes, net	533.8	963.9
Total current liabilities	7,552.2	7,682.7
Long-term deferred revenue	5,662.5	5,939.4
Deferred tax liabilities	116.1	387.7
Long-term operating lease liabilities	363	380.5
Other long-term liabilities	882.6	430.9
Total liabilities	14,576.4	14,821.2
Commitments and contingencies (Note $10)
Stockholders’ equity:
Preferred stock; $0.0001 par value; 100.0 shares authorized; none issued and outstanding as of January 31, 2025 and July 31, 2024	0	0
Common stock and additional paid-in capital; $0.0001 par value; 2,000.0 shares authorized; 660.4 and 650.2 shares issued and outstanding as of January 31, 2025 and July 31, 2024, respectively	4,421	3,821.1
Accumulated other comprehensive loss	(13.9)	(1.6)
Retained earnings	1,968.2	1,350.2
Total stockholders’ equity	6,375.3	5,169.7
Total liabilities and stockholders’ equity	$ 20,951.7	$ 19,990.9

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jan. 31, 2025	Jul. 31, 2024
Current assets:
Allowance for doubtful accounts	$ 8.5	$ 7.5
Stockholders’ equity:
Preferred stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares issued (in shares)	660,400,000	650,200,000
Common stock, shares outstanding (in shares)	660,400,000	650,200,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024
Revenue:
Total revenue	$ 2,257.4	$ 1,975.1	$ 4,396.2	$ 3,853.2
Cost of revenue:
Total cost of revenue	599.2	499.1	1,153.3	971.9
Total gross profit	1,658.2	1,476	3,242.9	2,881.3
Operating expenses:
Research and development	505.7	447.9	986.1	857.4
Sales and marketing	758.3	673	1,478.4	1,333.5
General and administrative	153.8	301.5	251.5	421.6
Total operating expenses	1,417.8	1,422.4	2,716	2,612.5
Operating income	240.4	53.6	526.9	268.8
Interest expense	(0.9)	(2.8)	(2.1)	(5.7)
Other income, net	85.3	84.7	168.6	155
Income before income taxes	324.8	135.5	693.4	418.1
Provision for (benefit from) income taxes	57.5	(1,611.4)	75.4	(1,523)
Net income	$ 267.3	$ 1,746.9	$ 618	$ 1,941.1
Net income per share, basic (in usd per share)	$ 0.41	$ 2.73	$ 0.94	$ 3.08
Net income per share, diluted (in usd per share)	$ 0.38	$ 2.44	$ 0.87	$ 2.74
Weighted-average shares used to compute net income per share, basic (in shares)	659.3	639.3	656.5	629.7
Weighted-average shares used to compute net income per share, diluted (in shares)	709	715	709.1	707.3
Product
Revenue:
Total revenue	$ 421.5	$ 390.7	$ 775.3	$ 731.8
Cost of revenue:
Total cost of revenue	101.3	88.2	176.3	165.6
Subscription and support
Revenue:
Total revenue	1,835.9	1,584.4	3,620.9	3,121.4
Cost of revenue:
Total cost of revenue	$ 497.9	$ 410.9	$ 977	$ 806.3

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024
Statement of Comprehensive Income [Abstract]
Net income	$ 267.3	$ 1,746.9	$ 618	$ 1,941.1
Other comprehensive income, net of tax:
Change in unrealized gains (losses) on investments	(4.4)	60.1	(8)	41.9
Cash flow hedges:
Change in unrealized gains (losses)	(9.8)	27.6	(9.8)	(13.3)
Net realized (gains) losses reclassified into earnings	4.3	(1.2)	5.5	8.1
Net change on cash flow hedges	(5.5)	26.4	(4.3)	(5.2)
Other comprehensive income (loss)	(9.9)	86.5	(12.3)	36.7
Comprehensive income	$ 257.4	$ 1,833.4	$ 605.7	$ 1,977.8

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Millions	Total	Common stock	Additonal Paid-In-Capital	Accumulated Other Comprehensive Loss	Retained Earnings (Accumulated Deficit)
Common stock, beginning balance (in shares) at Jul. 31, 2023		616,700,000
Beginning balance at Jul. 31, 2023	$ 1,748.4		$ 3,019	$ (43.2)	$ (1,227.4)
Increase (decrease) in stockholders' equity
Net income	1,941.1
Other comprehensive income (loss)	36.7			36.7
Issuance of common stock in connection with employee equity incentive plans (in shares)		11,300,000
Issuance of common stock in connection with employee equity incentive plans	142.3		142.3
Taxes paid related to net share settlement of equity awards	(19.3)		(19.3)
Share-based compensation for equity-based awards	575.2		575.2
Repurchase and retirement of common stock (in shares)		(600,000)
Repurchase and retirement of common stock	(66.7)		(66.7)
Settlement of convertible notes (in shares)		2,200,000
Settlement of convertible notes	(0.5)		(0.5)
Settlement of note hedges (in shares)		(2,200,000)
Settlement of note hedges	0
Settlement of warrants (in shares)		18,000,000
Settlement of warrants	0
Common stock, ending balance (in shares) at Jan. 31, 2024		645,400,000
Ending balance at Jan. 31, 2024	4,357.2		3,650	(6.5)	713.7
Common stock, beginning balance (in shares) at Oct. 31, 2023		627,500,000
Beginning balance at Oct. 31, 2023	2,170.5		3,296.7	(93)	(1,033.2)
Increase (decrease) in stockholders' equity
Net income	1,746.9				1,746.9
Other comprehensive income (loss)	86.5			86.5
Issuance of common stock in connection with employee equity incentive plans (in shares)		6,000,000
Issuance of common stock in connection with employee equity incentive plans	55.3		55.3
Taxes paid related to net share settlement of equity awards	(3.8)		(3.8)
Share-based compensation for equity-based awards	302.1		302.1
Settlement of convertible notes (in shares)		1,700,000
Settlement of convertible notes	(0.3)		(0.3)
Settlement of note hedges (in shares)		(1,700,000)
Settlement of note hedges	0
Settlement of warrants (in shares)		11,900,000
Settlement of warrants	0
Common stock, ending balance (in shares) at Jan. 31, 2024		645,400,000
Ending balance at Jan. 31, 2024	$ 4,357.2		3,650	(6.5)	713.7
Common stock, beginning balance (in shares) at Jul. 31, 2024	650,200,000	650,200,000
Beginning balance at Jul. 31, 2024	$ 5,169.7		3,821.1	(1.6)	1,350.2
Increase (decrease) in stockholders' equity
Net income	618
Other comprehensive income (loss)	(12.3)			(12.3)
Issuance of common stock in connection with employee equity incentive plans (in shares)		10,200,000
Issuance of common stock in connection with employee equity incentive plans	158.4		158.4
Taxes paid related to net share settlement of equity awards	(177.8)		(177.8)
Share-based compensation for equity-based awards	619.4		619.4
Settlement of convertible notes (in shares)		6,200,000
Settlement of convertible notes	(0.1)		(0.1)
Settlement of note hedges (in shares)		(6,200,000)
Settlement of note hedges	$ 0
Common stock, ending balance (in shares) at Jan. 31, 2025	660,400,000	660,400,000
Ending balance at Jan. 31, 2025	$ 6,375.3		4,421	(13.9)	1,968.2
Common stock, beginning balance (in shares) at Oct. 31, 2024		655,400,000
Beginning balance at Oct. 31, 2024	5,911.8		4,214.9	(4)	1,700.9
Increase (decrease) in stockholders' equity
Net income	267.3				267.3
Other comprehensive income (loss)	(9.9)			(9.9)
Issuance of common stock in connection with employee equity incentive plans (in shares)		5,000,000
Issuance of common stock in connection with employee equity incentive plans	37.7		37.7
Taxes paid related to net share settlement of equity awards	(156.4)		(156.4)
Share-based compensation for equity-based awards	324.8		324.8
Settlement of convertible notes (in shares)		1,700,000
Settlement of convertible notes	0
Settlement of note hedges (in shares)		(1,700,000)
Settlement of note hedges	$ 0
Common stock, ending balance (in shares) at Jan. 31, 2025	660,400,000	660,400,000
Ending balance at Jan. 31, 2025	$ 6,375.3		$ 4,421	$ (13.9)	$ 1,968.2

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024
Cash flows from operating activities
Net income	$ 618	$ 1,941.1
Adjustments to reconcile net income to net cash provided by operating activities:
Share-based compensation for equity-based awards	614.8	543
Deferred income taxes	(316.8)	(1,691.3)
Depreciation and amortization	171.5	132.9
Amortization of deferred contract costs	225	214.4
Amortization of debt issuance costs	0.8	2.1
Change in fair value of contingent consideration liability	16	0
Reduction of operating lease right-of-use assets	32	26.1
Amortization of investment premiums, net of accretion of purchase discounts	(25.8)	(30.9)
Changes in operating assets and liabilities, net of effects of acquisitions:
Accounts receivable, net	1,123.1	568
Financing receivables, net	(10.7)	(43.3)
Deferred contract costs	(193.5)	(159.3)
Prepaid expenses and other assets	88.9	45.9
Accounts payable	33.4	47.3
Accrued compensation	(63.1)	(98.3)
Accrued and other liabilities	0.7	199.8
Deferred revenue	(247.8)	518.5
Net cash provided by operating activities	2,066.5	2,216
Cash flows from investing activities
Purchases of investments	(1,732.1)	(2,011.4)
Proceeds from sales of investments	644.9	431.2
Proceeds from maturities of investments	753.7	808.3
Business acquisitions, net of cash and restricted cash acquired	(499.5)	(610.6)
Purchases of property, equipment, and other assets	(91.6)	(72)
Net cash used in investing activities	(924.6)	(1,454.5)
Cash flows from financing activities
Repayments of convertible senior notes	(431.4)	(172.3)
Repurchases of common stock	0	(66.7)
Proceeds from sales of shares through employee equity incentive plans	157.3	143.9
Payments for taxes related to net share settlement of equity awards	(177.8)	(19.3)
Net cash used in financing activities	(451.9)	(114.4)
Net increase in cash, cash equivalents, and restricted cash	690	647.1
Cash, cash equivalents, and restricted cash - beginning of period	1,546.8	1,142.2
Cash, cash equivalents, and restricted cash - end of period	2,236.8	1,789.3
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets
Cash and cash equivalents	2,226.3	1,782.5
Restricted cash included in prepaid expenses and other current assets	10.5	6.3
Restricted cash included in other assets	0	0.5
Total cash, cash equivalents, and restricted cash	2,236.8	1,789.3
Non-cash investing and financing activities
Equity consideration for business acquisitions	0	(27.4)
Contingent consideration for a business acquisition	$ (648.9)	$ 0

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	6 Months Ended
	Jan. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Summary of Significant Accounting Policies	Description of Business and Summary of Significant Accounting Policies Description of Business Palo Alto Networks, Inc. (the “Company,” “we,” “us,” or “our”), headquartered in Santa Clara, California, was incorporated in March 2005 under the laws of the State of Delaware and commenced operations in April 2005. We empower enterprises, organizations, service providers, and government entities to secure their users, networks, clouds, and endpoints by delivering comprehensive cybersecurity backed by artificial intelligence and automation. Basis of Presentation and Principles of Consolidation The accompanying condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”), consistent in all material respects with those applied in our Annual Report on Form 10-K for the fiscal year ended July 31, 2024, filed with the Securities and Exchange Commission (“SEC”) on September 6, 2024. The condensed consolidated financial statements include our accounts and our wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated financial statements are unaudited but include all adjustments of a normal recurring nature necessary for a fair presentation of our quarterly results. Our condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes in our Annual Report on Form 10-K for the fiscal year ended July 31, 2024. Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the condensed consolidated financial statements and the accompanying notes. We evaluate our estimates on an ongoing basis. Management estimates include, but are not limited to, the standalone selling price for our products and services, share-based compensation, fair value of assets acquired and liabilities assumed in business combinations, fair value of contingent consideration liability, the assessment of recoverability of our intangibles and goodwill, valuation allowance against deferred tax assets, manufacturing partner and supplier liabilities, deferred contract cost benefit period, and loss contingencies. We base our estimates on assumptions, both historical and forward looking, that we believe are reasonable. Actual results could differ materially from those estimates due to risks and uncertainties, including uncertainty in the current economic environment. Stock Split On December 12, 2024, we effected a two-for-one stock split of our outstanding shares of common stock through an amendment to our restated certificate of incorporation (“Stock Split”), which also effected a proportionate increase in the number of authorized shares of our common stock from 1.0 billion to 2.0 billion. The par value per share of our common stock remains unchanged at $0.0001 per share after the Stock Split. All references made to share or per share amounts related to our common stock have been retroactively adjusted on the accompanying condensed consolidated financial statements and applicable disclosures to reflect the effects of the Stock Split. Summary of Significant Accounting Policies There have been no material changes to our significant accounting policies as of and for the six months ended January 31, 2025, as compared to the significant accounting policies described in our Annual Report on Form 10-K for the fiscal year ended July 31, 2024, except for the update to the disclosure of our accounting policies as described below resulting from our acquisition of certain QRadar assets from International Business Machines Corporation (“IBM”). Refer to Note 7. Acquisition for additional information. Business Combinations We include the results of operations of the businesses that we acquire as of the respective dates of acquisition. We allocate the fair value of the purchase price of our acquisitions to the assets acquired and liabilities assumed, including contingent consideration, generally based on their estimated fair values. The excess of the purchase price over the fair values of these identifiable assets and liabilities is recorded as goodwill. Additional information existing as of the acquisition date but unknown to us may become known during the remainder of the measurement period, not to exceed 12 months from the acquisition date, which may result in changes to the amounts and allocations recorded. Contingent consideration obligations incurred in connection with a business combination are recorded at fair value on the acquisition date and remeasured at each subsequent reporting period until the related contingencies have been resolved, with the change in fair value recognized in general and administrative expense on our condensed consolidated statements of operations. Payments not made soon after the acquisition date to settle a contingent consideration liability are classified as cash flows from financing activities up to the amount of the contingent consideration liability recognized at the acquisition date. Recently Issued Accounting Pronouncements Segment Reporting In November 2023, the Financial Accounting Standards Board (“FASB”) issued authoritative guidance that expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. The standard is effective for our annual period in fiscal 2025 and interim periods beginning in the first quarter of fiscal 2026, and requires retrospective application for all prior periods presented in the financial statements. Early adoption is permitted. We are currently evaluating the impact of this standard on our disclosures in the consolidated financial statements. Income Tax Disclosures In December 2023, the FASB issued authoritative guidance that requires consistent categories and greater disaggregation of information in the effective tax rate reconciliation and additional disclosures of income taxes paid by jurisdiction. The standard is effective for our annual period in fiscal 2026 and could be applied either prospectively or retrospectively. Early adoption is permitted. We are currently evaluating the impact of this standard on our disclosures in the consolidated financial statements. Expense Disaggregation Disclosures In November 2024, the FASB issued authoritative guidance that expands annual and interim disclosure of specified information about certain costs and expenses in the notes to financial statements. The standard is effective for our annual period in fiscal 2028 and interim periods beginning in the first quarter of fiscal 2029, and could be applied either prospectively or retrospectively. Early adoption is permitted. We are currently evaluating the impact of this standard on our disclosures in the consolidated financial statements.

Revenue

Revenue	6 Months Ended
	Jan. 31, 2025
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Disaggregation of Revenue The following table presents revenue by geographic theater (in millions): Three Months Ended January 31, Six Months Ended January 31, 2025 2024 2025 2024 Revenue: Americas United States $ 1,400.5 $ 1,248.2 $ 2,744.6 $ 2,452.5 Other Americas 101.9 86.0 199.9 168.3 Total Americas 1,502.4 1,334.2 2,944.5 2,620.8 Europe, the Middle East, and Africa (“EMEA”) 480.0 406.8 921.4 771.7 Asia Pacific and Japan (“APAC”) 275.0 234.1 530.3 460.7 Total revenue $ 2,257.4 $ 1,975.1 $ 4,396.2 $ 3,853.2 The following table presents revenue for groups of similar products and services (in millions): Three Months Ended January 31, Six Months Ended January 31, 2025 2024 2025 2024 Revenue: Product $ 421.5 $ 390.7 $ 775.3 $ 731.8 Subscription and support Subscription 1,233.2 1,027.1 2,425.0 2,015.4 Support 602.7 557.3 1,195.9 1,106.0 Total subscription and support 1,835.9 1,584.4 3,620.9 3,121.4 Total revenue $ 2,257.4 $ 1,975.1 $ 4,396.2 $ 3,853.2 Deferred Revenue During the six months ended January 31, 2025 and 2024, we recognized approximately $3.1 billion and $2.7 billion of revenue pertaining to amounts that were deferred as of July 31, 2024 and 2023, respectively. Remaining Performance Obligations Remaining performance obligations were $13.0 billion as of January 31, 2025, of which we expect to recognize as revenue approximately $6.1 billion over the next 12 months and the remainder thereafter.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jan. 31, 2025
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following table presents our financial assets and liabilities measured at fair value on a recurring basis as of January 31, 2025 and July 31, 2024 (in millions): January 31, 2025 July 31, 2024 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 1,291.9 $ — $ — $ 1,291.9 $ 494.0 $ — $ — $ 494.0 Commercial paper — 277.8 — 277.8 — 299.6 — 299.6 Corporate debt securities — 4.3 — 4.3 — 18.2 — 18.2 U.S. government and agency securities — 18.0 — 18.0 — 149.6 — 149.6 Total cash equivalents 1,291.9 300.1 — 1,592.0 494.0 467.4 — 961.4 Short-term investments: Certificates of deposit — 1.0 — 1.0 — 20.6 — 20.6 Commercial paper — 34.6 — 34.6 — 79.9 — 79.9 Corporate debt securities — 936.8 — 936.8 — 935.9 — 935.9 U.S. government and agency securities — 15.6 — 15.6 — 2.7 — 2.7 Non-U.S. government and agency securities — 3.1 — 3.1 — 4.2 — 4.2 Asset-backed securities — 15.5 — 15.5 — 0.3 — 0.3 Total short-term investments — 1,006.6 — 1,006.6 — 1,043.6 — 1,043.6 January 31, 2025 July 31, 2024 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Long-term investments: Corporate debt securities — 3,476.5 — 3,476.5 — 3,151.3 — 3,151.3 U.S. government and agency securities — 83.4 — 83.4 — 19.0 — 19.0 Non-U.S. government and agency securities — 26.0 — 26.0 — 54.4 — 54.4 Asset-backed securities — 973.9 — 973.9 — 948.5 — 948.5 Total long-term investments — 4,559.8 — 4,559.8 — 4,173.2 — 4,173.2 Prepaid expenses and other current assets: Foreign currency forward contracts — 10.0 — 10.0 — 4.1 — 4.1 Total prepaid expenses and other current assets — 10.0 — 10.0 — 4.1 — 4.1 Other assets: Foreign currency forward contracts — 3.0 — 3.0 — 0.1 — 0.1 Total other assets — 3.0 — 3.0 — 0.1 — 0.1 Total assets measured at fair value $ 1,291.9 $ 5,879.5 $ — $ 7,171.4 $ 494.0 $ 5,688.4 $ — $ 6,182.4 Accrued and other liabilities: Foreign currency forward contracts $ — $ 28.2 $ — $ 28.2 $ — $ 15.3 $ — $ 15.3 Contingent consideration — — 312.8 312.8 — — — — Total accrued and other liabilities — 28.2 312.8 341.0 — 15.3 — 15.3 Other long-term liabilities: Foreign currency forward contracts — 2.5 — 2.5 — 0.9 — 0.9 Contingent consideration — — 352.1 352.1 — — — — Total other long-term liabilities — 2.5 352.1 354.6 — 0.9 — 0.9 Total liabilities measured at fair value $ — $ 30.7 $ 664.9 $ 695.6 $ — $ 16.2 $ — $ 16.2 The fair value of contingent consideration liability is estimated using a discounted cash flow valuation technique. We consider the fair value of our contingent consideration liability to be a Level 3 measurement as we use unobservable inputs in determining discounted cash flows to estimate the fair value. The significant unobservable inputs include an estimate of future cash payments related to customers entering into qualified new transactions as well as a risk-adjusted discount rate used to present value the expected cash flows. A significant change in any of these assumptions could have a material impact to the fair value of our contingent consideration liability. The following table presents a reconciliation of our contingent consideration liability (in millions): Three Months Ended January 31, 2025 Six Months Ended January 31, 2025 Contingent consideration liability at the beginning of the period $ 655.2 $ — Initial valuation on the acquisition date — 648.9 Change in fair value 9.7 16.0 Contingent consideration liability at the end of the period $ 664.9 $ 664.9 The total estimated fair value of our financing receivables approximates their carrying amounts as of January 31, 2025 and July 31, 2024. We consider the fair value of our financing receivables to be a Level 3 measurement as we use unobservable inputs in determining discounted cash flows to estimate the fair value. Refer to Note 9. Debt for the carrying amount and estimated fair value of our convertible senior notes as of January 31, 2025 and July 31, 2024.

Cash Equivalents and Investment

Cash Equivalents and Investments	6 Months Ended
	Jan. 31, 2025
Investments, Debt and Equity Securities [Abstract]
Cash Equivalents and Investments	Cash Equivalents and Investments Available-for-sale Debt Securities The following tables summarize the amortized cost, unrealized gains and losses, and fair value of our available-for-sale debt securities as of January 31, 2025 and July 31, 2024 (in millions): January 31, 2025 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash equivalents: Commercial paper $ 277.7 $ 0.1 $ — $ 277.8 Corporate debt securities 4.3 — — 4.3 U.S. government and agency securities 18.0 — — 18.0 Total available-for-sale cash equivalents $ 300.0 $ 0.1 $ — $ 300.1 Investments: Certificates of deposit $ 1.0 $ — $ — $ 1.0 Commercial paper 34.6 — — 34.6 Corporate debt securities 4,401.7 20.3 (8.7) 4,413.3 U.S. government and agency securities 99.1 — (0.1) 99.0 Non-U.S. government and agency securities 28.8 0.3 — 29.1 Asset-backed securities 983.1 6.8 (0.5) 989.4 Total available-for-sale investments $ 5,548.3 $ 27.4 $ (9.3) $ 5,566.4 July 31, 2024 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash equivalents: Commercial paper $ 299.6 $ — $ — $ 299.6 Corporate debt securities 18.2 — — 18.2 U.S. government and agency securities 149.6 — — 149.6 Total available-for-sale cash equivalents $ 467.4 $ — $ — $ 467.4 Investments: Certificates of deposit $ 20.6 $ — $ — $ 20.6 Commercial paper 79.9 0.1 (0.1) 79.9 Corporate debt securities 4,065.5 28.3 (6.6) 4,087.2 U.S. government and agency securities 21.9 — (0.2) 21.7 Non-U.S. government and agency securities 57.9 0.7 — 58.6 Asset-backed securities 943.1 6.3 (0.6) 948.8 Total available-for-sale investments $ 5,188.9 $ 35.4 $ (7.5) $ 5,216.8 As of January 31, 2025, the gross unrealized losses that have been in a continuous unrealized loss position for less than 12 months were $8.9 million, which were related to $1.5 billion of available-for-sale debt securities, and the gross unrealized losses that have been in a continuous unrealized loss position for more than 12 months were $0.4 million, which were related to $215.4 million of available-for-sale debt securities. As of July 31, 2024 the gross unrealized losses that have been in a continuous unrealized loss position for less than 12 months were $1.5 million, which were related to $949.4 million of available-for-sale debt securities, and the gross unrealized losses that have been in a continuous unrealized loss position for more than 12 months were $6.0 million, which were related to $915.3 million of available-for-sale debt securities. Unrealized losses related to our available-for-sale debt securities are primarily due to interest rate fluctuations as opposed to credit quality. We do not intend to sell any of the securities in an unrealized loss position and it is not likely that we would be required to sell these securities before recovery of their amortized cost basis, which may be at maturity. We did not recognize any credit losses related to our available-for-sale debt securities during the three and six months ended January 31, 2025 and 2024. The following table summarizes the amortized cost and fair value of our available-for-sale debt securities as of January 31, 2025, by contractual years-to-maturity (in millions): Amortized Cost Fair Value Due within one year $ 1,305.4 $ 1,306.7 Due between one and three years 1,769.2 1,776.7 Due between three and five years 2,453.7 2,461.0 Due between five and ten years 206.1 207.0 Due after ten years 113.9 115.1 Total $ 5,848.3 $ 5,866.5 Marketable Equity Securities Marketable equity securities consist of money market funds and are included in cash and cash equivalents on our condensed consolidated balance sheets. As of January 31, 2025 and July 31, 2024, the carrying values of our marketable equity securities were $1.3 billion and $494.0 million, respectively. There were no unrealized gains or losses recognized for these securities during the three and six months ended January 31, 2025 and 2024.

Financing Receivables

Financing Receivables	6 Months Ended
	Jan. 31, 2025
Receivables [Abstract]
Financing Receivables	Financing Receivables The following table summarizes our short-term and long-term financing receivables as of January 31, 2025 and July 31, 2024 (in millions): January 31, 2025 July 31, 2024 Short-term financing receivables, gross $ 859.7 $ 830.2 Unearned income (99.0) (95.7) Allowance for credit losses (5.8) (8.6) Short-term financing receivables, net $ 754.9 $ 725.9 Long-term financing receivables, gross $ 1,263.0 $ 1,286.4 Unearned income (89.6) (94.6) Allowance for credit losses (9.6) (9.7) Long-term financing receivables, net $ 1,163.8 $ 1,182.1 The following table presents amortized cost basis of our financing receivables categorized by internal risk rating and year of origination (in millions): Internal Risk Rating (1) January 31, 2025 July 31, 2024 Fiscal Year of Origination Fiscal Year of Origination 2025 2024 2023 2022 2021 Total 2024 2023 2022 2021 Total 1 to 4 $ 45.3 $ 867.3 $ 354.8 $ 9.2 $ 21.5 $ 1,298.1 $ 885.9 $ 477.3 $ 14.7 $ 44.4 $ 1,422.3 5 to 6 156.0 326.9 121.9 — 1.1 605.9 272.2 172.0 21.1 1.1 466.4 7 to 10 0.1 2.1 18.3 0.3 9.3 30.1 3.2 25.0 0.3 9.1 37.6 Amortized cost basis of financing receivables $ 201.4 $ 1,196.3 $ 495.0 $ 9.5 $ 31.9 $ 1,934.1 $ 1,161.3 $ 674.3 $ 36.1 $ 54.6 $ 1,926.3 (1) Internal risk ratings are categorized as 1 through 10, with the lowest rating representing the highest quality. There was no significant activity in allowance for credit losses during the three and six months ended January 31, 2025 and 2024. Past due amounts on financing receivables were not material as of January 31, 2025 and July 31, 2024.

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jan. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments We are exposed to foreign currency exchange risk. Our revenue is primarily transacted in U.S. dollars, however, a portion of our operating expenditures are incurred outside of the United States and are denominated in foreign currencies, making them subject to fluctuations in foreign currency exchange rates. We enter into foreign currency derivative contracts with maturities of 24 months or less, which we designate as cash flow hedges, to manage the foreign currency exchange risk associated with our operating expenditures. As of January 31, 2025 and July 31, 2024, the total notional amount of our outstanding foreign currency forward contracts designated as cash flow hedges was $1.0 billion and $804.8 million, respectively. Refer to Note 3. Fair Value Measurements for the fair value of our derivative instruments as reported on our condensed consolidated balance sheets as of January 31, 2025 and July 31, 2024. As of January 31, 2025, unrealized gains and losses in accumulated other comprehensive income (“AOCI”) related to our cash flow hedges were a $16.0 million net loss, of which $14.1 million in losses are expected to be recognized into earnings within the next 12 months. As of July 31, 2024, unrealized gains and losses in AOCI related to our cash flow hedges were a $10.6 million net loss. As of January 31, 2025 and July 31, 2024, the notional amount of our outstanding foreign currency forward contracts not designated as hedging instruments was $567.2 million and $375.6 million, respectively.

Acquisition

Acquisition	6 Months Ended
	Jan. 31, 2025
Business Combinations [Abstract]
Acquisition	Acquisition IBM QRadar Assets On August 31, 2024, we completed the acquisition of certain IBM QRadar assets, including certain intellectual property rights, customer relationships, and software as a service customer contracts. We expect the acquisition will help accelerate the growth of our Cortex business. The total purchase consideration for the acquisition was $1.1 billion, which consisted of the following (in millions): Amount Cash $ 500.0 Fair value of contingent consideration liability 648.9 Return of purchase consideration (6.3) Total $ 1,142.6 As part of the acquisition, we agreed to make post-closing payments to IBM contingent upon customers entering into qualified new transactions through June 30, 2028. We also expect to receive a return of purchase consideration of $6.3 million due to timing of transition of certain underlying customer contracts, of which $0.5 million was received during the three and six months ended January 31, 2025. In addition, we have entered into a transition services arrangement with IBM, under which IBM will perform certain services supporting the acquired assets and customers for a limited period of time. Payments related to the contingent consideration liability are expected to begin in the fiscal quarter ending April 2025 and continue through the fiscal quarter ending October 2028. The estimated range of undiscounted contingent consideration is between $0.5 billion and $0.9 billion. Refer to Note 3. Fair Value Measurements, for more information on the fair value of our contingent consideration liability. We have accounted for this transaction as a business combination and allocated the purchase consideration to assets acquired and liabilities assumed based on preliminary estimated fair values, as presented in the following table (in millions): Amount Goodwill $ 700.7 Identified intangible assets 476.0 Net liabilities assumed (34.1) Total $ 1,142.6 Goodwill generated from this business combination is primarily attributable to the expected post-acquisition synergies from increased market penetration to support the growth of our Cortex business. The goodwill is deductible for U.S. income tax purposes. The following table presents details of the identified intangible assets acquired (in millions, except years): Fair Value Estimated Useful Life Customer relationships $ 464.0 12 years Developed technology 12.0 2 years Total $ 476.0 Pro forma results of operations have not been presented because the effects of the acquisition were not material to our condensed consolidated statements of operations. Additional information related to the acquisition existing as of the acquisition date may become known during the remainder of the measurement period, not to exceed 12 months from the acquisition date, which may result in changes to the amounts and allocations recorded.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jan. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill The following table presents details of our goodwill during the six months ended January 31, 2025 (in millions): Amount Balance as of July 31, 2024 $ 3,350.1 Goodwill acquired 700.7 Balance as of January 31, 2025 $ 4,050.8 Purchased Intangible Assets The following table presents details of our purchased intangible assets as of January 31, 2025 and July 31, 2024 (in millions): January 31, 2025 July 31, 2024 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Developed technology $ 825.9 $ (584.3) $ 241.6 $ 813.9 $ (526.2) $ 287.7 Customer relationships 636.7 (122.5) 514.2 172.7 (96.1) 76.6 Acquired intellectual property 24.3 (8.9) 15.4 18.2 (7.9) 10.3 Trade name and trademarks 9.4 (9.4) — 9.4 (9.4) — Other 0.9 (0.7) 0.2 0.9 (0.6) 0.3 Total purchased intangible assets $ 1,497.2 $ (725.8) $ 771.4 $ 1,015.1 $ (640.2) $ 374.9 We recognized amortization expense of $44.3 million and $85.6 million for the three and six months ended January 31, 2025, respectively, and $28.4 million and $53.3 million for the three and six months ended January 31, 2024, respectively. The following table summarizes estimated future amortization expense of our intangible assets subject to amortization as of January 31, 2025 (in millions): Fiscal years ending July 31, Total Remaining 2025 2026 2027 2028 2029 2030 and Thereafter Future amortization expense $ 771.4 $ 80.6 $ 141.6 $ 110.7 $ 89.9 $ 63.9 $ 284.7

Debt

Debt	6 Months Ended
	Jan. 31, 2025
Debt Disclosure [Abstract]
Debt	Debt Convertible Senior Notes In June 2020, we issued $2.0 billion aggregate principal amount of 0.375% Convertible Senior Notes due 2025 (the “2025 Notes”). The 2025 Notes bear interest at a fixed rate of 0.375% per year, payable semi-annually in arrears on June 1 and December 1 of each year, beginning on December 1, 2020. The 2025 Notes are governed by an indenture between us, as the issuer, and U.S. Bank National Association, as Trustee (the “Indenture”). The 2025 Notes are unsecured, unsubordinated obligations and the Indenture governing the 2025 Notes does not contain any financial covenants or restrictions on the payments of dividends, the incurrence of indebtedness, or the issuance or repurchase of securities by us or any of our subsidiaries. The 2025 Notes mature on June 1, 2025. We may redeem for cash all or any portion of the 2025 Notes, at our option, on or after June 5, 2023 and prior to the 31st scheduled trading day immediately preceding the maturity date if the last reported sale price of our common stock has been at least 130% of the conversion price then in effect for at least 20 trading days during any 30 consecutive trading day period ending on and including the trading day preceding the date on which we provide notice of redemption. The redemption will be at a price equal to 100% of the principal amount of the 2025 Notes and adjusted for interest. If we call any or all of the 2025 Notes for redemption, holders may convert such 2025 Notes called for redemption at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date. The 2025 Notes are convertible for an initial 40.3 million shares of our common stock at a conversion rate of approximately 20.1612 shares of common stock per $1,000 principal amount, which is equal to an initial conversion price of approximately $49.60 per share of common stock, subject to adjustments. Holders of the 2025 Notes may surrender their 2025 Notes for conversion at their option at any time prior to the close of business on the business day immediately preceding March 1, 2025 only under the following circumstances: • during any fiscal quarter commencing after the fiscal quarters ending on October 31, 2020 (and only during such fiscal quarter), if the last reported sale price of our common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price for the 2025 Notes on each applicable trading day (the “sale price condition”); • during the five business day period after any five consecutive trading day period (the “measurement period”) in which the trading price per $1,000 principal amount of the 2025 Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of our common stock and the conversion rate for the 2025 Notes on each such trading day; or • upon the occurrence of specified corporate events. On or after March 1, 2025, holders may surrender all or any portion of their 2025 Notes for conversion at any time prior to the close of business on the second scheduled trading day immediately preceding the maturity date regardless of the foregoing conditions, and such conversions will be settled upon the maturity date. Upon conversion, holders of the 2025 Notes will receive cash equal to the aggregate principal amount of the 2025 Notes to be converted, and, at our election, cash and/or shares of our common stock for any amounts in excess of the aggregate principal amount of the 2025 Notes being converted. The conversion price will be subject to adjustment in some events. Holders of the 2025 Notes who convert their 2025 Notes in connection with certain corporate events that constitute a “make-whole fundamental change” under the Indenture are, under certain circumstances, entitled to an increase in the conversion rate. Additionally, upon the occurrence of a corporate event that constitutes a “fundamental change” under the Indenture, holders of the 2025 Notes may require us to repurchase for cash all or a portion of the 2025 Notes at a repurchase price equal to 100% of the principal amount of the 2025 Notes plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. Holders of the 2025 Notes were able to early convert their 2025 Notes during the fiscal quarter ended January 31, 2025 as the sales price condition had been met during the fiscal quarter ended October 31, 2024. During the three and six months ended January 31, 2025, holders of the 2025 Notes converted $112.4 million and $431.4 million, respectively, in aggregate principal amount of the 2025 Notes, which we repaid in cash. We also issued 1.7 million and 6.2 million shares of our common stock to the holders of the 2025 Notes during the three and six months ended January 31, 2025, respectively, for the conversion value in excess of the principal amount. During the three and six months ended January 31, 2024, holders of the 2025 Notes converted $126.3 million and $172.3 million, respectively, in aggregate principal amount of the 2025 Notes, which we repaid in cash. We also issued 1.7 million and 2.2 million shares of our common stock to the holders of the 2025 Notes during the three and six months ended January 31, 2024, respectively, for the conversion value in excess of the principal amount. These shares were fully offset by shares we received from the corresponding exercise of the note hedges. Refer to Note 16. Subsequent Events for additional information regarding conversion of the 2025 Notes after January 31, 2025 through the filing date of this Quarterly Report on Form 10-Q. The sale price condition for the 2025 Notes was met during the fiscal quarter ended January 31, 2025 and, as a result, holders may convert their 2025 Notes during the fiscal quarter ending April 30, 2025 at any time prior to the close of business on the business day immediately preceding March 1, 2025 for settlement prior to the maturity date. The net carrying amount of the 2025 Notes was classified as a current liability on our condensed consolidated balance sheet as of January 31, 2025. The following table sets forth the net carrying amount of our 2025 Notes (in millions): January 31, 2025 July 31, 2024 Principal $ 534.2 $ 965.6 Less: debt issuance costs, net of amortization (0.4) (1.7) Net carrying amount $ 533.8 $ 963.9 The total estimated fair value of the 2025 Notes was $2.0 billion as of January 31, 2025 and $3.2 billion as of July 31, 2024. The fair value was determined based on the closing trading price per $100 of the 2025 Notes as of the last day of trading for the period. We consider the fair value of the 2025 Notes as of January 31, 2025 and July 31, 2024 to be a Level 2 measurement. The fair value of the 2025 Notes is primarily affected by the trading price of our common stock and market interest rates. The following table sets forth interest expense recognized related to the 2025 Notes (dollars in millions): Three Months Ended January 31, Six Months Ended January 31, 2025 2024 2025 2024 Contractual interest expense $ 0.6 $ 1.7 $ 1.3 $ 3.6 Amortization of debt issuance costs 0.3 1.1 0.8 2.1 Total interest expense $ 0.9 $ 2.8 $ 2.1 $ 5.7 Effective interest rate 0.6 % 0.6 % 0.6 % 0.6 % Note Hedges To minimize the impact of potential economic dilution upon conversion of our convertible senior notes, we entered into separate convertible note hedge transactions (the “2025 Note Hedges”) with respect to our common stock concurrent with the issuance of the 2025 Notes. The 2025 Note Hedges cover up to 40.3 million shares of our common stock at a strike price per share that corresponds to the initial conversion price of the 2025 Notes, which are also subject to adjustment, and are exercisable upon conversion of the 2025 Notes. The 2025 Note Hedges will expire upon maturity of the 2025 Notes. The 2025 Note Hedges are separate transactions and are not part of the terms of the 2025 Notes. Holders of the 2025 Notes will not have any rights with respect to the 2025 Note Hedges. Any shares of our common stock receivable by us under the 2025 Note Hedges are excluded from the calculation of diluted earnings per share as they are antidilutive. We paid an aggregate amount of $370.8 million for the 2025 Note Hedges, which is included in additional paid-in capital on our condensed consolidated balance sheets. As a result of the conversions of the 2025 Notes settled during the three and six months ended January 31, 2025, we exercised the corresponding portion of our 2025 Note Hedges and received 1.7 million and 6.2 million shares of our common stock during the respective periods. As a result of the conversions of the 2025 Notes settled during the three and six months ended January 31, 2024, we exercised the corresponding portion of our 2025 Note Hedges and received 1.7 million and 2.2 million shares of our common stock during the respective periods. Warrants Separately, but concurrently with the issuance of each series of our convertible senior notes, we entered into transactions whereby we sold warrants (the “2023 Warrants,” with respect to the 0.75% convertible senior notes due 2023 issued in July 2018, the “2025 Warrants,” with respect to the 2025 Notes, and the 2023 Warrants together with the 2025 Warrants, the “Warrants”) to acquire shares of our common stock, subject to anti-dilution adjustments. The 2023 Warrants and 2025 Warrants are exercisable over 60 scheduled trading days beginning October 2023 and September 2025, respectively. The following table presents details of our Warrants (in millions, except per share data): Initial Number of Shares Strike Price per Share Aggregate Proceeds 2023 Warrants (1) 38.1 $ 69.63 $ 145.4 2025 Warrants 40.3 $ 68.08 $ 202.8 (1) The 2023 Warrants were net settled during the 60 scheduled trading days from October to December 2023. The shares issuable under the Warrants are included in the calculation of diluted earnings per share when the average market value per share of our common stock for the reporting period exceeds the applicable strike price for such series of Warrants. The Warrants are separate transactions and are not part of either series of Notes or Note Hedges and are not remeasured through earnings each reporting period. Holders of the Notes of either series will not have any rights with respect to the Warrants. The aggregate proceeds received from the sale of the Warrants are included in additional paid-in capital on our condensed consolidated balance sheets. During the six months ended January 31, 2024, we net settled all of the 2023 Warrants with 18.0 million shares of our common stock with a fair value of $2.4 billion, of which 11.9 million shares of our common stock with a fair value of $1.7 billion were net settled during the three months ended January 31, 2024. The number of net shares issued was determined based on the number of 2023 Warrants exercised multiplied by the difference between the strike price of the 2023 Warrants and their daily volume-weighted-average stock price. Revolving Credit Facility On April 13, 2023, we entered into a credit agreement (the “Credit Agreement”) with certain institutional lenders that provides for a $400.0 million unsecured revolving credit facility (the “Credit Facility”), with an option to increase the amount of the Credit Facility by up to an additional $350.0 million, subject to certain conditions. The Credit Facility matures on April 13, 2028. The borrowings under the Credit Facility bear interest, at our option, at a base rate plus a spread of 0.000% to 0.375%, or an adjusted term Secured Overnight Financing Rate (“SOFR”) plus a spread of 1.000% to 1.375%, in each case with such spread being determined based on our leverage ratio. We are obligated to pay an ongoing commitment fee on undrawn amounts at a rate of 0.090% to 0.150%, depending on our leverage ratio. The interest rates and commitment fees are also subject to upward and downward adjustments based on our progress towards the achievement of certain sustainability goals related to greenhouse gas emissions. As of January 31, 2025, there were no amounts outstanding and we were in compliance with all covenants under the Credit Agreement.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jan. 31, 2025
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase Commitments We have entered into various non-cancelable agreements with cloud service providers, under which we are committed to minimum or fixed purchases of certain cloud services. In addition, in order to reduce manufacturing lead times and plan for adequate supply, we have entered into agreements with manufacturing partners and component suppliers to procure inventory based on our demand forecasts. The following table presents details of the aggregate future non-cancelable purchase commitments under these agreements as of January 31, 2025 (in millions): Fiscal years ending July 31, Total Remaining 2025 2026 2027 2028 2029 2030 and Thereafter Cloud $ 3,921.4 $ 47.3 $ 277.6 $ 518.1 $ 599.6 $ 686.1 $ 1,792.7 Manufacturing 199.4 110.2 89.2 — — — — Other 152.8 26.0 59.8 53.3 6.8 3.4 3.5 Total purchase commitments $ 4,273.6 $ 183.5 $ 426.6 $ 571.4 $ 606.4 $ 689.5 $ 1,796.2 Additionally, we have a $132.7 million minimum purchase commitment with a cloud service provider through September 2027 with no specified annual commitments. Litigation We are subject to legal proceedings, claims, tax matters, and litigation arising in the ordinary course of business, including, for instance, intellectual property and patent litigation. We accrue for contingencies when we believe that a loss is probable and that we can reasonably estimate the amount of any such loss. Legal matters could include speculative, substantial, or indeterminate monetary amounts. Significant judgment is required to determine both the likelihood of there being a loss and the estimated amount of a loss related to such matters, and we may be unable to estimate the reasonably possible loss or range of loss. The outcomes of outstanding legal matters are inherently unpredictable, and could, either individually or in aggregate, have a material adverse effect on us and our results of operations. To the extent there is a reasonable possibility that a loss exceeding any amounts already recognized may be incurred, we will either disclose the estimated additional loss or state that such an estimate cannot be made. The following matters arose in the ordinary course of business. Centripetal Networks, Inc. v. Palo Alto Networks On March 12, 2021, Centripetal Networks, Inc., filed a lawsuit against us in the United States District Court for the Eastern District of Virginia. The lawsuit alleges that our products infringe multiple Centripetal patents. We successfully challenged certain of these patents, which were found unpatentable by the U.S. Patent and Trademark Office (“PTO”). The case went to jury trial on January 22, 2024, on four patents. On January 31, 2024, the jury returned a verdict of non-willful infringement with a lump sum amount of $151.5 million, plus statutory interest. After post-trial motions, a judgment was issued on October 3, 2024 affirming infringement on three patents, reversing infringement on the fourth patent, and subsequently, reducing the damages amount to $113.6 million. We posted a surety bond that was agreed upon by the parties and approved by the court. This bond prevents execution of the judgment while appeals are pending. In addition, Centripetal filed infringement contentions on certain of their patents in the European Patent Office in Germany, to which we filed invalidity challenges. Those matters are still pending. As of July 31, 2024, we accrued $184.4 million for the verdict amount and estimated interest. As of January 31, 2025, we accrued $142.8 million based on the judgment and estimated interest, which is recorded in other long-term liabilities on our condensed consolidated balance sheets. The corresponding amount was a charge of $1.4 million for the three months ended January 31, 2025, and a release of $41.6 million for the six months ended January 31, 2025, which is included in general and administrative expense on our condensed consolidated statements of operations. Finjan, Inc. v. Palo Alto Networks

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jan. 31, 2025
Equity [Abstract]
Stockholders’ Equity	Stockholders’ Equity Share Repurchase Program In February 2019, our board of directors authorized a $1.0 billion share repurchase program, which is funded from available working capital. In December 2020, August 2021, August 2022, November 2023, and August 2024, our board of directors authorized additional $700.0 million, $676.1 million, $915.0 million, $316.7 million and $500.0 million increases to this share repurchase program, respectively, bringing the total authorization under this share repurchase program to $4.1 billion (our “current authorization”). The expiration date of our current authorization was extended to December 31, 2025, and our repurchase program may be suspended or discontinued at any time. Repurchases may be made at management’s discretion from time to time on the open market, through privately negotiated transactions, transactions structured through investment banking institutions, block purchase techniques, 10b5-1 trading plans, or a combination of the foregoing. We did not repurchase shares of our common stock during the three and six months ended January 31, 2025. During the six months ended January 31, 2024, we repurchased and retired 0.6 million shares of our common stock under our current repurchase authorization for an aggregate purchase price of $66.7 million, including transaction costs, at an average price of $113.34 per share. As of January 31, 2025, $1.0 billion remained available for future share repurchases under our current repurchase authorization. The total price of the shares repurchased and related transaction costs are reflected as a reduction to common stock and additional paid-in capital on our condensed consolidated balance sheets.

Equity Award Plans

Equity Award Plans	6 Months Ended
	Jan. 31, 2025
Share-Based Payment Arrangement [Abstract]
Equity Award Plans	Equity Award Plans Restricted Stock Unit (“RSU”) and Performance-Based Stock Unit (“PSU”) Activities The following table summarizes the RSU and PSU activity under our stock plans during the six months ended January 31, 2025 (in millions, except per share amounts): Unvested RSUs Unvested PSUs Number of Shares Weighted-Average Grant-Date Fair Value Per Share Aggregate Intrinsic Value Number of Shares Weighted-Average Grant-Date Fair Value Per Share Aggregate Intrinsic Value Balance—July 31, 2024 18.0 $ 102.59 $ 2,924.4 10.0 $ 77.95 $ 1,624.2 Granted (1) 4.2 $ 190.52 3.8 $ 201.59 Vested (2) (4.8) $ 86.49 (1.1) $ 64.76 Forfeited (1.1) $ 106.64 (3.2) $ 91.47 Balance—January 31, 2025 16.3 $ 130.05 $ 3,000.4 9.5 $ 140.37 $ 1,758.0 (1) For PSUs, shares granted represent the aggregate maximum number of shares that may be earned and issued with respect to these awards over their full terms. (2) Includes time-based vesting for PSUs. Our RSUs generally vest over a period of three Our PSUs generally vest over a period of one During the six months ended January 31, 2025, we granted 3.4 million shares of PSUs that contain service, performance, and market conditions, of which 0.1 million shares were granted during the three months ended January 31, 2025. The service conditions are satisfied after a period of one The fair value of the PSUs subject to market conditions is estimated on the grant date using a Monte Carlo simulation model. The following table summarizes the assumptions used and the resulting grant-date fair value of our PSUs subject to market conditions granted during the three and six months ended January 31, 2025 and 2024: Three Months Ended January 31, Six Months Ended January 31, 2025 2024 2025 2024 Volatility 43.5% - 43.9% 40.9% 43.5% - 47.6% 40.8% - 43.4% Expected term (in years) 1.7 - 2.7 2.7 1.0 - 2.9 0.9 - 2.9 Dividend yield 0.0 % 0.0 % 0.0 % 0.0 % Risk-free interest rate 4.2% 4.5% 3.7% - 4.5% 4.5% - 5.3% Grant-date fair value per share $287.98 - $291.91 $174.02 $264.51 - $305.83 $173.46 - $197.32 Performance Stock Option (“PSO”) Activities We have granted PSOs with both service and market conditions. The market conditions were achieved when certain stock price targets were met. As of January 31, 2025, all of our outstanding PSOs have been fully vested. The maximum contractual term of our outstanding PSOs is seven and a half years from the date of grant in fiscal year 2018 and 2019. The following table summarizes the PSO activity under our stock plans during the six months ended January 31, 2025 (in millions, except per share amounts): Number of Shares Weighted-Average Exercise Price Per Share Weighted-Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Balance—July 31, 2024 9.6 $ 32.66 1.2 $ 1,244.9 Exercised (5.3) $ 32.49 Balance—January 31, 2025 4.3 $ 32.87 0.8 $ 654.1 Exercisable—January 31, 2025 4.3 $ 32.87 0.8 $ 654.1 Share-Based Compensation The following table summarizes share-based compensation included in costs and expenses (in millions): Three Months Ended January 31, Six Months Ended January 31, 2025 2024 2025 2024 Cost of product revenue $ 1.3 $ 2.3 $ 2.6 $ 4.7 Cost of subscription and support revenue 32.3 30.7 62.7 61.3 Research and development 139.6 138.6 277.4 258.7 Sales and marketing 90.2 75.6 166.6 154.8 General and administrative 57.1 28.1 105.5 66.8 Total share-based compensation $ 320.5 $ 275.3 $ 614.8 $ 546.3 As of January 31, 2025, total compensation cost related to unvested share-based awards not yet recognized was $2.5 billion. This cost is expected to be amortized over a weighted-average period of approximately 2.6 years.

Income Taxes

Income Taxes	6 Months Ended
	Jan. 31, 2025
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three and six months ended January 31, 2025, our provision for income taxes reflected effective tax rates of 17.7% and 10.9%, respectively. Our income taxes for the three and six months ended January 31, 2025 were primarily due to U.S. and foreign income taxes. Our effective tax rate for the three and six months ended January 31, 2025 differed from the U.S. statutory tax rate primarily due to excess tax benefits from share-based compensation. For the three and six months ended January 31, 2024, our benefit from income taxes reflected an effective tax rate of negative 1,189.2% and negative 364.3%, respectively. Our effective tax rate for the three and six months ended January 31, 2024 differed from the U.S. statutory tax rate primarily due to the release of our valuation allowance on U.S. federal, U.S. states other than California, and United Kingdom (“U.K.”) deferred tax assets.

Net Income Per Share

Net Income Per Share	6 Months Ended
	Jan. 31, 2025
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share Basic net income per share is computed by dividing net income by basic weighted-average shares outstanding during the period. Diluted net income per share is computed by dividing net income by diluted weighted-average shares outstanding during the period giving effect to all potentially dilutive securities to the extent they are dilutive. We compute the dilutive effect of shares issuable upon conversion of our convertible senior notes using the if-converted method, and the dilutive effect of warrants related to the issuance of convertible senior notes and equity awards under our employee equity incentive plans using the treasury stock method. The following table presents the computation of basic and diluted net income per share of common stock (in millions, except per share data): Three Months Ended January 31, Six Months Ended January 31, 2025 2024 2025 2024 Net income $ 267.3 $ 1,746.9 $ 618.0 $ 1,941.1 Weighted-average shares used to compute net income per share, basic 659.3 639.3 656.5 629.7 Weighted-average effect of potentially dilutive securities: Convertible senior notes 8.7 25.9 10.3 24.6 Warrants related to the issuance of convertible senior notes 25.8 25.3 25.2 28.6 Employee equity incentive plans 15.2 24.5 17.1 24.4 Weighted-average shares used to compute net income per share, diluted 709.0 715.0 709.1 707.3 Net income per share, basic $ 0.41 $ 2.73 $ 0.94 $ 3.08 Net income per share, diluted $ 0.38 $ 2.44 $ 0.87 $ 2.74 The following securities were excluded from the computation of diluted net income per share of common stock as their effect would have been antidilutive or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the applicable period (in millions): Three Months Ended January 31, Six Months Ended January 31, 2025 2024 2025 2024 Employee equity incentive plans 6.3 4.7 4.8 4.9

Other Income, Net

Other Income, Net	6 Months Ended
	Jan. 31, 2025
Other Income and Expenses [Abstract]
Other Income, Net	Other Income, Net The following table sets forth the components of other income, net (in millions): Three Months Ended January 31, Six Months Ended January 31, 2025 2024 2025 2024 Interest income $ 86.9 $ 85.3 $ 172.6 $ 156.5 Foreign currency exchange gains (losses), net 2.4 (6.5) (5.1) (1.4) Other, net (4.0) 5.9 1.1 (0.1) Total other income, net $ 85.3 $ 84.7 $ 168.6 $ 155.0

Subsequent Events

Subsequent Events	6 Months Ended
	Jan. 31, 2025
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events 2025 Notes Conversion Subsequent to January 31, 2025, $100.4 million in aggregate principal amount of the 2025 Notes was converted or had been submitted by the holders for conversion and will settle during the fiscal quarter ending April 30, 2025.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024
Pay vs Performance Disclosure
Net income	$ 267.3	$ 1,746.9	$ 618	$ 1,941.1

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Jan. 31, 2025 shares	Jan. 31, 2025 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Set forth below is certain information regarding Rule 10b5-1 trading plans adopted or terminated by our directors and officers (as defined in Rule 16a-1(f)) during the second quarter of fiscal 2025. The Rule 10b5-1 trading plans listed below are each intended to satisfy the affirmative defense of Rule 10b5-1(c). Name Title Date Plan Was Adopted Date Plan was Terminated Expiration Date Total Amount of Common Stock to be Sold Under the Plan Dipak Golechha Executive Vice President, Chief Financial Officer January 6, 2025 Not applicable March 31, 2026 or, if earlier, when all shares have been sold 20,000 Nir Zuk Executive Vice President, Chief Technology Officer January 9, 2025 Not applicable April 30, 2026 or, if earlier, when all shares have been sold 1,449,828
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Dipak Golechha [Member]
Trading Arrangements, by Individual
Name	Dipak Golechha
Title	Executive Vice President, Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	January 6, 2025
Expiration Date	March 31, 2026
Arrangement Duration	449 days
Aggregate Available	20,000	20,000
Nir Zuk [Member]
Trading Arrangements, by Individual
Name	Nir Zuk
Title	Executive Vice President, Chief Technology Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	January 9, 2025
Expiration Date	April 30, 2026
Arrangement Duration	476 days
Aggregate Available	1,449,828	1,449,828

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jan. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”), consistent in all material respects with those applied in our Annual Report on Form 10-K for the fiscal year ended July 31, 2024, filed with the Securities and Exchange Commission (“SEC”) on September 6, 2024. The condensed consolidated financial statements include our accounts and our wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated financial statements are unaudited but include all adjustments of a normal recurring nature necessary for a fair presentation of our quarterly results. Our condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes in our Annual Report on Form 10-K for the fiscal year ended July 31, 2024.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the condensed consolidated financial statements and the accompanying notes. We evaluate our estimates on an ongoing basis. Management estimates include, but are not limited to, the standalone selling price for our products and services, share-based compensation, fair value of assets acquired and liabilities assumed in business combinations, fair value of contingent consideration liability, the assessment of recoverability of our intangibles and goodwill, valuation allowance against deferred tax assets, manufacturing partner and supplier liabilities, deferred contract cost benefit period, and loss contingencies. We base our estimates on assumptions, both historical and forward looking, that we believe are reasonable. Actual results could differ materially from those estimates due to risks and uncertainties, including uncertainty in the current economic environment.
Business Combinations	Business Combinations We include the results of operations of the businesses that we acquire as of the respective dates of acquisition. We allocate the fair value of the purchase price of our acquisitions to the assets acquired and liabilities assumed, including contingent consideration, generally based on their estimated fair values. The excess of the purchase price over the fair values of these identifiable assets and liabilities is recorded as goodwill. Additional information existing as of the acquisition date but unknown to us may become known during the remainder of the measurement period, not to exceed 12 months from the acquisition date, which may result in changes to the amounts and allocations recorded.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Segment Reporting In November 2023, the Financial Accounting Standards Board (“FASB”) issued authoritative guidance that expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. The standard is effective for our annual period in fiscal 2025 and interim periods beginning in the first quarter of fiscal 2026, and requires retrospective application for all prior periods presented in the financial statements. Early adoption is permitted. We are currently evaluating the impact of this standard on our disclosures in the consolidated financial statements. Income Tax Disclosures In December 2023, the FASB issued authoritative guidance that requires consistent categories and greater disaggregation of information in the effective tax rate reconciliation and additional disclosures of income taxes paid by jurisdiction. The standard is effective for our annual period in fiscal 2026 and could be applied either prospectively or retrospectively. Early adoption is permitted. We are currently evaluating the impact of this standard on our disclosures in the consolidated financial statements. Expense Disaggregation Disclosures In November 2024, the FASB issued authoritative guidance that expands annual and interim disclosure of specified information about certain costs and expenses in the notes to financial statements. The standard is effective for our annual period in fiscal 2028 and interim periods beginning in the first quarter of fiscal 2029, and could be applied either prospectively or retrospectively. Early adoption is permitted. We are currently evaluating the impact of this standard on our disclosures in the consolidated financial statements.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jan. 31, 2025
Revenue from Contract with Customer [Abstract]
Schedule of Revenue From External Customers by Geographic Areas	The following table presents revenue by geographic theater (in millions): Three Months Ended January 31, Six Months Ended January 31, 2025 2024 2025 2024 Revenue: Americas United States $ 1,400.5 $ 1,248.2 $ 2,744.6 $ 2,452.5 Other Americas 101.9 86.0 199.9 168.3 Total Americas 1,502.4 1,334.2 2,944.5 2,620.8 Europe, the Middle East, and Africa (“EMEA”) 480.0 406.8 921.4 771.7 Asia Pacific and Japan (“APAC”) 275.0 234.1 530.3 460.7 Total revenue $ 2,257.4 $ 1,975.1 $ 4,396.2 $ 3,853.2
Schedule of Revenue From External Customers by Products and Services	The following table presents revenue for groups of similar products and services (in millions): Three Months Ended January 31, Six Months Ended January 31, 2025 2024 2025 2024 Revenue: Product $ 421.5 $ 390.7 $ 775.3 $ 731.8 Subscription and support Subscription 1,233.2 1,027.1 2,425.0 2,015.4 Support 602.7 557.3 1,195.9 1,106.0 Total subscription and support 1,835.9 1,584.4 3,620.9 3,121.4 Total revenue $ 2,257.4 $ 1,975.1 $ 4,396.2 $ 3,853.2

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jan. 31, 2025
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 January 31, 2025 and July 31, 2024 (in millions): January 31, 2025 July 31, 2024 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 1,291.9 $ — $ — $ 1,291.9 $ 494.0 $ — $ — $ 494.0 Commercial paper — 277.8 — 277.8 — 299.6 — 299.6 Corporate debt securities — 4.3 — 4.3 — 18.2 — 18.2 U.S. government and agency securities — 18.0 — 18.0 — 149.6 — 149.6 Total cash equivalents 1,291.9 300.1 — 1,592.0 494.0 467.4 — 961.4 Short-term investments: Certificates of deposit — 1.0 — 1.0 — 20.6 — 20.6 Commercial paper — 34.6 — 34.6 — 79.9 — 79.9 Corporate debt securities — 936.8 — 936.8 — 935.9 — 935.9 U.S. government and agency securities — 15.6 — 15.6 — 2.7 — 2.7 Non-U.S. government and agency securities — 3.1 — 3.1 — 4.2 — 4.2 Asset-backed securities — 15.5 — 15.5 — 0.3 — 0.3 Total short-term investments — 1,006.6 — 1,006.6 — 1,043.6 — 1,043.6 January 31, 2025 July 31, 2024 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Long-term investments: Corporate debt securities — 3,476.5 — 3,476.5 — 3,151.3 — 3,151.3 U.S. government and agency securities — 83.4 — 83.4 — 19.0 — 19.0 Non-U.S. government and agency securities — 26.0 — 26.0 — 54.4 — 54.4 Asset-backed securities — 973.9 — 973.9 — 948.5 — 948.5 Total long-term investments — 4,559.8 — 4,559.8 — 4,173.2 — 4,173.2 Prepaid expenses and other current assets: Foreign currency forward contracts — 10.0 — 10.0 — 4.1 — 4.1 Total prepaid expenses and other current assets — 10.0 — 10.0 — 4.1 — 4.1 Other assets: Foreign currency forward contracts — 3.0 — 3.0 — 0.1 — 0.1 Total other assets — 3.0 — 3.0 — 0.1 — 0.1 Total assets measured at fair value $ 1,291.9 $ 5,879.5 $ — $ 7,171.4 $ 494.0 $ 5,688.4 $ — $ 6,182.4 Accrued and other liabilities: Foreign currency forward contracts $ — $ 28.2 $ — $ 28.2 $ — $ 15.3 $ — $ 15.3 Contingent consideration — — 312.8 312.8 — — — — Total accrued and other liabilities — 28.2 312.8 341.0 — 15.3 — 15.3 Other long-term liabilities: Foreign currency forward contracts — 2.5 — 2.5 — 0.9 — 0.9 Contingent consideration — — 352.1 352.1 — — — — Total other long-term liabilities — 2.5 352.1 354.6 — 0.9 — 0.9 Total liabilities measured at fair value $ — $ 30.7 $ 664.9 $ 695.6 $ — $ 16.2 $ — $ 16.2
Schedule of Reconciliation Beginning and Ending Amount of Contingent Consideration Liabilities	The following table presents a reconciliation of our contingent consideration liability (in millions): Three Months Ended January 31, 2025 Six Months Ended January 31, 2025 Contingent consideration liability at the beginning of the period $ 655.2 $ — Initial valuation on the acquisition date — 648.9 Change in fair value 9.7 16.0 Contingent consideration liability at the end of the period $ 664.9 $ 664.9

Cash Equivalents and Investme_2

Cash Equivalents and Investments (Tables)	6 Months Ended
	Jan. 31, 2025
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-sale Debt Securities	The following tables summarize the amortized cost, unrealized gains and losses, and fair value of our available-for-sale debt securities as of January 31, 2025 and July 31, 2024 (in millions): January 31, 2025 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash equivalents: Commercial paper $ 277.7 $ 0.1 $ — $ 277.8 Corporate debt securities 4.3 — — 4.3 U.S. government and agency securities 18.0 — — 18.0 Total available-for-sale cash equivalents $ 300.0 $ 0.1 $ — $ 300.1 Investments: Certificates of deposit $ 1.0 $ — $ — $ 1.0 Commercial paper 34.6 — — 34.6 Corporate debt securities 4,401.7 20.3 (8.7) 4,413.3 U.S. government and agency securities 99.1 — (0.1) 99.0 Non-U.S. government and agency securities 28.8 0.3 — 29.1 Asset-backed securities 983.1 6.8 (0.5) 989.4 Total available-for-sale investments $ 5,548.3 $ 27.4 $ (9.3) $ 5,566.4 July 31, 2024 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash equivalents: Commercial paper $ 299.6 $ — $ — $ 299.6 Corporate debt securities 18.2 — — 18.2 U.S. government and agency securities 149.6 — — 149.6 Total available-for-sale cash equivalents $ 467.4 $ — $ — $ 467.4 Investments: Certificates of deposit $ 20.6 $ — $ — $ 20.6 Commercial paper 79.9 0.1 (0.1) 79.9 Corporate debt securities 4,065.5 28.3 (6.6) 4,087.2 U.S. government and agency securities 21.9 — (0.2) 21.7 Non-U.S. government and agency securities 57.9 0.7 — 58.6 Asset-backed securities 943.1 6.3 (0.6) 948.8 Total available-for-sale investments $ 5,188.9 $ 35.4 $ (7.5) $ 5,216.8
Schedule of Contractual Maturities of Available-for-sale Debt Securities	The following table summarizes the amortized cost and fair value of our available-for-sale debt securities as of January 31, 2025, by contractual years-to-maturity (in millions): Amortized Cost Fair Value Due within one year $ 1,305.4 $ 1,306.7 Due between one and three years 1,769.2 1,776.7 Due between three and five years 2,453.7 2,461.0 Due between five and ten years 206.1 207.0 Due after ten years 113.9 115.1 Total $ 5,848.3 $ 5,866.5

Financing Receivables (Tables)

Financing Receivables (Tables)	6 Months Ended
	Jan. 31, 2025
Receivables [Abstract]
Schedule of Short and Long-term Financing Receivables	The following table summarizes our short-term and long-term financing receivables as of January 31, 2025 and July 31, 2024 (in millions): January 31, 2025 July 31, 2024 Short-term financing receivables, gross $ 859.7 $ 830.2 Unearned income (99.0) (95.7) Allowance for credit losses (5.8) (8.6) Short-term financing receivables, net $ 754.9 $ 725.9 Long-term financing receivables, gross $ 1,263.0 $ 1,286.4 Unearned income (89.6) (94.6) Allowance for credit losses (9.6) (9.7) Long-term financing receivables, net $ 1,163.8 $ 1,182.1
Schedule of Financing Receivable Credit Quality Indicators	The following table presents amortized cost basis of our financing receivables categorized by internal risk rating and year of origination (in millions): Internal Risk Rating (1) January 31, 2025 July 31, 2024 Fiscal Year of Origination Fiscal Year of Origination 2025 2024 2023 2022 2021 Total 2024 2023 2022 2021 Total 1 to 4 $ 45.3 $ 867.3 $ 354.8 $ 9.2 $ 21.5 $ 1,298.1 $ 885.9 $ 477.3 $ 14.7 $ 44.4 $ 1,422.3 5 to 6 156.0 326.9 121.9 — 1.1 605.9 272.2 172.0 21.1 1.1 466.4 7 to 10 0.1 2.1 18.3 0.3 9.3 30.1 3.2 25.0 0.3 9.1 37.6 Amortized cost basis of financing receivables $ 201.4 $ 1,196.3 $ 495.0 $ 9.5 $ 31.9 $ 1,934.1 $ 1,161.3 $ 674.3 $ 36.1 $ 54.6 $ 1,926.3 (1) Internal risk ratings are categorized as 1 through 10, with the lowest rating representing the highest quality.

Acquisition (Tables)

Acquisition (Tables)	6 Months Ended
	Jan. 31, 2025
Business Combinations [Abstract]
Schedule of Purchase Consideration	The total purchase consideration for the acquisition was $1.1 billion, which consisted of the following (in millions): Amount Cash $ 500.0 Fair value of contingent consideration liability 648.9 Return of purchase consideration (6.3) Total $ 1,142.6
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	We have accounted for this transaction as a business combination and allocated the purchase consideration to assets acquired and liabilities assumed based on preliminary estimated fair values, as presented in the following table (in millions): Amount Goodwill $ 700.7 Identified intangible assets 476.0 Net liabilities assumed (34.1) Total $ 1,142.6
Schedule of Finite-lived Intangible Assets Acquired as Part of Business Combination	The following table presents details of the identified intangible assets acquired (in millions, except years): Fair Value Estimated Useful Life Customer relationships $ 464.0 12 years Developed technology 12.0 2 years Total $ 476.0

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jan. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table presents details of our goodwill during the six months ended January 31, 2025 (in millions): Amount Balance as of July 31, 2024 $ 3,350.1 Goodwill acquired 700.7 Balance as of January 31, 2025 $ 4,050.8
Schedule of Purchased Finite-lived Intangible Assets by Major Class	The following table presents details of our purchased intangible assets as of January 31, 2025 and July 31, 2024 (in millions): January 31, 2025 July 31, 2024 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Developed technology $ 825.9 $ (584.3) $ 241.6 $ 813.9 $ (526.2) $ 287.7 Customer relationships 636.7 (122.5) 514.2 172.7 (96.1) 76.6 Acquired intellectual property 24.3 (8.9) 15.4 18.2 (7.9) 10.3 Trade name and trademarks 9.4 (9.4) — 9.4 (9.4) — Other 0.9 (0.7) 0.2 0.9 (0.6) 0.3 Total purchased intangible assets $ 1,497.2 $ (725.8) $ 771.4 $ 1,015.1 $ (640.2) $ 374.9
Schedule of Future Amortization Expense of Intangible Assets	The following table summarizes estimated future amortization expense of our intangible assets subject to amortization as of January 31, 2025 (in millions): Fiscal years ending July 31, Total Remaining 2025 2026 2027 2028 2029 2030 and Thereafter Future amortization expense $ 771.4 $ 80.6 $ 141.6 $ 110.7 $ 89.9 $ 63.9 $ 284.7

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jan. 31, 2025
Debt Disclosure [Abstract]
Schedule of Components of Convertible Senior Notes	The following table sets forth the net carrying amount of our 2025 Notes (in millions): January 31, 2025 July 31, 2024 Principal $ 534.2 $ 965.6 Less: debt issuance costs, net of amortization (0.4) (1.7) Net carrying amount $ 533.8 $ 963.9
Schedule of Interest Expense Recognized Related to the Convertible Senior Notes	The following table sets forth interest expense recognized related to the 2025 Notes (dollars in millions): Three Months Ended January 31, Six Months Ended January 31, 2025 2024 2025 2024 Contractual interest expense $ 0.6 $ 1.7 $ 1.3 $ 3.6 Amortization of debt issuance costs 0.3 1.1 0.8 2.1 Total interest expense $ 0.9 $ 2.8 $ 2.1 $ 5.7 Effective interest rate 0.6 % 0.6 % 0.6 % 0.6 %
Schedule of Warrants	The following table presents details of our Warrants (in millions, except per share data): Initial Number of Shares Strike Price per Share Aggregate Proceeds 2023 Warrants (1) 38.1 $ 69.63 $ 145.4 2025 Warrants 40.3 $ 68.08 $ 202.8 (1) The 2023 Warrants were net settled during the 60 scheduled trading days from October to December 2023.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jan. 31, 2025
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Non-cancelable Purchase Commitments	The following table presents details of the aggregate future non-cancelable purchase commitments under these agreements as of January 31, 2025 (in millions): Fiscal years ending July 31, Total Remaining 2025 2026 2027 2028 2029 2030 and Thereafter Cloud $ 3,921.4 $ 47.3 $ 277.6 $ 518.1 $ 599.6 $ 686.1 $ 1,792.7 Manufacturing 199.4 110.2 89.2 — — — — Other 152.8 26.0 59.8 53.3 6.8 3.4 3.5 Total purchase commitments $ 4,273.6 $ 183.5 $ 426.6 $ 571.4 $ 606.4 $ 689.5 $ 1,796.2

Equity Award Plans (Tables)

Equity Award Plans (Tables)	6 Months Ended
	Jan. 31, 2025
Share-Based Payment Arrangement [Abstract]
Schedule of RSU and PSU Activities	The following table summarizes the RSU and PSU activity under our stock plans during the six months ended January 31, 2025 (in millions, except per share amounts): Unvested RSUs Unvested PSUs Number of Shares Weighted-Average Grant-Date Fair Value Per Share Aggregate Intrinsic Value Number of Shares Weighted-Average Grant-Date Fair Value Per Share Aggregate Intrinsic Value Balance—July 31, 2024 18.0 $ 102.59 $ 2,924.4 10.0 $ 77.95 $ 1,624.2 Granted (1) 4.2 $ 190.52 3.8 $ 201.59 Vested (2) (4.8) $ 86.49 (1.1) $ 64.76 Forfeited (1.1) $ 106.64 (3.2) $ 91.47 Balance—January 31, 2025 16.3 $ 130.05 $ 3,000.4 9.5 $ 140.37 $ 1,758.0 (1) For PSUs, shares granted represent the aggregate maximum number of shares that may be earned and issued with respect to these awards over their full terms. (2) Includes time-based vesting for PSUs.
Schedule of Assumptions Used and Resulting Grant-date Fair Values	The following table summarizes the assumptions used and the resulting grant-date fair value of our PSUs subject to market conditions granted during the three and six months ended January 31, 2025 and 2024: Three Months Ended January 31, Six Months Ended January 31, 2025 2024 2025 2024 Volatility 43.5% - 43.9% 40.9% 43.5% - 47.6% 40.8% - 43.4% Expected term (in years) 1.7 - 2.7 2.7 1.0 - 2.9 0.9 - 2.9 Dividend yield 0.0 % 0.0 % 0.0 % 0.0 % Risk-free interest rate 4.2% 4.5% 3.7% - 4.5% 4.5% - 5.3% Grant-date fair value per share $287.98 - $291.91 $174.02 $264.51 - $305.83 $173.46 - $197.32
Schedule of PSO Activity	The following table summarizes the PSO activity under our stock plans during the six months ended January 31, 2025 (in millions, except per share amounts): Number of Shares Weighted-Average Exercise Price Per Share Weighted-Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Balance—July 31, 2024 9.6 $ 32.66 1.2 $ 1,244.9 Exercised (5.3) $ 32.49 Balance—January 31, 2025 4.3 $ 32.87 0.8 $ 654.1 Exercisable—January 31, 2025 4.3 $ 32.87 0.8 $ 654.1
Schedule of Allocation of Share-based Compensation Expense	The following table summarizes share-based compensation included in costs and expenses (in millions): Three Months Ended January 31, Six Months Ended January 31, 2025 2024 2025 2024 Cost of product revenue $ 1.3 $ 2.3 $ 2.6 $ 4.7 Cost of subscription and support revenue 32.3 30.7 62.7 61.3 Research and development 139.6 138.6 277.4 258.7 Sales and marketing 90.2 75.6 166.6 154.8 General and administrative 57.1 28.1 105.5 66.8 Total share-based compensation $ 320.5 $ 275.3 $ 614.8 $ 546.3

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
	Jan. 31, 2025
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Net Income Per Share of Common Stock	The following table presents the computation of basic and diluted net income per share of common stock (in millions, except per share data): Three Months Ended January 31, Six Months Ended January 31, 2025 2024 2025 2024 Net income $ 267.3 $ 1,746.9 $ 618.0 $ 1,941.1 Weighted-average shares used to compute net income per share, basic 659.3 639.3 656.5 629.7 Weighted-average effect of potentially dilutive securities: Convertible senior notes 8.7 25.9 10.3 24.6 Warrants related to the issuance of convertible senior notes 25.8 25.3 25.2 28.6 Employee equity incentive plans 15.2 24.5 17.1 24.4 Weighted-average shares used to compute net income per share, diluted 709.0 715.0 709.1 707.3 Net income per share, basic $ 0.41 $ 2.73 $ 0.94 $ 3.08 Net income per share, diluted $ 0.38 $ 2.44 $ 0.87 $ 2.74
Schedule of Antidilutive Securities Excluded From the Computation of Net Income Per Share	The following securities were excluded from the computation of diluted net income per share of common stock as their effect would have been antidilutive or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the applicable period (in millions): Three Months Ended January 31, Six Months Ended January 31, 2025 2024 2025 2024 Employee equity incentive plans 6.3 4.7 4.8 4.9

Other Income, Net (Tables)

Other Income, Net (Tables)	6 Months Ended
	Jan. 31, 2025
Other Income and Expenses [Abstract]
Schedule of Components of Other Income, Net	The following table sets forth the components of other income, net (in millions): Three Months Ended January 31, Six Months Ended January 31, 2025 2024 2025 2024 Interest income $ 86.9 $ 85.3 $ 172.6 $ 156.5 Foreign currency exchange gains (losses), net 2.4 (6.5) (5.1) (1.4) Other, net (4.0) 5.9 1.1 (0.1) Total other income, net $ 85.3 $ 84.7 $ 168.6 $ 155.0

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies (Details)	Dec. 12, 2024 $ / shares shares	Jan. 31, 2025 $ / shares shares	Dec. 11, 2024 shares	Jul. 31, 2024 $ / shares shares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Stock split, conversion ratio	2
Common stock, shares authorized (in shares) | shares	2,000,000,000	2,000,000,000	1,000,000,000	2,000,000,000
Common stock, par value (in usd per share) | $ / shares	$ 0.0001	$ 0.0001		$ 0.0001

Revenue (Disaggregation of Reve

Revenue (Disaggregation of Revenue - Geographic Theater) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024
Disaggregation of Revenue
Revenue:	$ 2,257.4	$ 1,975.1	$ 4,396.2	$ 3,853.2
United States
Disaggregation of Revenue
Revenue:	1,400.5	1,248.2	2,744.6	2,452.5
Other Americas
Disaggregation of Revenue
Revenue:	101.9	86	199.9	168.3
Total Americas
Disaggregation of Revenue
Revenue:	1,502.4	1,334.2	2,944.5	2,620.8
Europe, the Middle East, and Africa (“EMEA”)
Disaggregation of Revenue
Revenue:	480	406.8	921.4	771.7
Asia Pacific and Japan (“APAC”)
Disaggregation of Revenue
Revenue:	$ 275	$ 234.1	$ 530.3	$ 460.7

Revenue (Disaggregation of Re_2

Revenue (Disaggregation of Revenue - Type of Revenue) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024
Revenue:
Revenue:	$ 2,257.4	$ 1,975.1	$ 4,396.2	$ 3,853.2
Product
Revenue:
Revenue:	421.5	390.7	775.3	731.8
Subscription
Revenue:
Revenue:	1,233.2	1,027.1	2,425	2,015.4
Support
Revenue:
Revenue:	602.7	557.3	1,195.9	1,106
Cost of subscription and support revenue
Revenue:
Revenue:	$ 1,835.9	$ 1,584.4	$ 3,620.9	$ 3,121.4

Revenue (Deferred Revenue) (Det

Revenue (Deferred Revenue) (Details) - USD ($) $ in Billions	6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue recognized from opening deferred revenue balance	$ 3.1	$ 2.7

Revenue (Remaining Performance

Revenue (Remaining Performance Obligations) (Details) $ in Billions	Jan. 31, 2025 USD ($)
Remaining Performance Obligations, Expected Timing of Satisfaction
Remaining performance obligations	$ 13
Remaining Performance Obligations, Expected Timing of Satisfaction, Start Date: 2025-02-01
Remaining Performance Obligations, Expected Timing of Satisfaction
Remaining performance obligations	$ 6.1
Remaining performance obligations, expected timing of satisfaction, period	12 months

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value of Financial Assets and Liabilities) (Details) - USD ($) $ in Millions	Jan. 31, 2025	Jul. 31, 2024
Other assets:
Foreign currency forward contracts	Other assets	Other assets
Accrued and other liabilities:
Foreign currency forward contracts	Accrued and other liabilities	Accrued and other liabilities
Other long-term liabilities:
Foreign currency forward contracts	Other long-term liabilities	Other long-term liabilities
Fair value, measurements, recurring
Cash equivalents:
Cash equivalents	$ 1,592	$ 961.4
Prepaid expenses and other current assets:
Foreign currency forward contracts	10	4.1
Total prepaid expenses and other current assets	10	4.1
Other assets:
Total other assets	3	0.1
Total assets measured at fair value	7,171.4	6,182.4
Accrued and other liabilities:
Contingent consideration	312.8	0
Total accrued and other liabilities	341	15.3
Other long-term liabilities:
Contingent consideration	352.1	0
Total other long-term liabilities	354.6	0.9
Total liabilities measured at fair value	695.6	16.2
Fair value, measurements, recurring | Short-Term Investments
Short-term investments:
Short and long-term investments	1,006.6	1,043.6
Fair value, measurements, recurring | Long-Term Investments
Short-term investments:
Short and long-term investments	4,559.8	4,173.2
Fair value, measurements, recurring | Level 1
Cash equivalents:
Cash equivalents	1,291.9	494
Prepaid expenses and other current assets:
Foreign currency forward contracts	0	0
Total prepaid expenses and other current assets	0	0
Other assets:
Total other assets	0	0
Total assets measured at fair value	1,291.9	494
Accrued and other liabilities:
Contingent consideration	0	0
Total accrued and other liabilities	0	0
Other long-term liabilities:
Contingent consideration	0	0
Total other long-term liabilities	0	0
Total liabilities measured at fair value	0	0
Fair value, measurements, recurring | Level 1 | Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Fair value, measurements, recurring | Level 1 | Long-Term Investments
Short-term investments:
Short and long-term investments	0	0
Fair value, measurements, recurring | Level 2
Cash equivalents:
Cash equivalents	300.1	467.4
Prepaid expenses and other current assets:
Foreign currency forward contracts	10	4.1
Total prepaid expenses and other current assets	10	4.1
Other assets:
Total other assets	3	0.1
Total assets measured at fair value	5,879.5	5,688.4
Accrued and other liabilities:
Contingent consideration	0	0
Total accrued and other liabilities	28.2	15.3
Other long-term liabilities:
Contingent consideration	0	0
Total other long-term liabilities	2.5	0.9
Total liabilities measured at fair value	30.7	16.2
Fair value, measurements, recurring | Level 2 | Short-Term Investments
Short-term investments:
Short and long-term investments	1,006.6	1,043.6
Fair value, measurements, recurring | Level 2 | Long-Term Investments
Short-term investments:
Short and long-term investments	4,559.8	4,173.2
Fair value, measurements, recurring | Level 3
Cash equivalents:
Cash equivalents	0	0
Prepaid expenses and other current assets:
Foreign currency forward contracts	0	0
Total prepaid expenses and other current assets	0	0
Other assets:
Total other assets	0	0
Total assets measured at fair value	0	0
Accrued and other liabilities:
Contingent consideration	312.8	0
Total accrued and other liabilities	312.8	0
Other long-term liabilities:
Contingent consideration	352.1	0
Total other long-term liabilities	352.1	0
Total liabilities measured at fair value	664.9	0
Fair value, measurements, recurring | Level 3 | Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Fair value, measurements, recurring | Level 3 | Long-Term Investments
Short-term investments:
Short and long-term investments	0	0
Fair value, measurements, recurring | Money market funds
Cash equivalents:
Cash equivalents	1,291.9	494
Fair value, measurements, recurring | Money market funds | Level 1
Cash equivalents:
Cash equivalents	1,291.9	494
Fair value, measurements, recurring | Money market funds | Level 2
Cash equivalents:
Cash equivalents	0	0
Fair value, measurements, recurring | Money market funds | Level 3
Cash equivalents:
Cash equivalents	0	0
Fair value, measurements, recurring | Commercial paper
Cash equivalents:
Cash equivalents	277.8	299.6
Fair value, measurements, recurring | Commercial paper | Short-Term Investments
Short-term investments:
Short and long-term investments	34.6	79.9
Fair value, measurements, recurring | Commercial paper | Level 1
Cash equivalents:
Cash equivalents	0	0
Fair value, measurements, recurring | Commercial paper | Level 1 | Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Fair value, measurements, recurring | Commercial paper | Level 2
Cash equivalents:
Cash equivalents	277.8	299.6
Fair value, measurements, recurring | Commercial paper | Level 2 | Short-Term Investments
Short-term investments:
Short and long-term investments	34.6	79.9
Fair value, measurements, recurring | Commercial paper | Level 3
Cash equivalents:
Cash equivalents	0	0
Fair value, measurements, recurring | Commercial paper | Level 3 | Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Fair value, measurements, recurring | Corporate debt securities
Cash equivalents:
Cash equivalents	4.3	18.2
Fair value, measurements, recurring | Corporate debt securities | Short-Term Investments
Short-term investments:
Short and long-term investments	936.8	935.9
Fair value, measurements, recurring | Corporate debt securities | Long-Term Investments
Short-term investments:
Short and long-term investments	3,476.5	3,151.3
Fair value, measurements, recurring | Corporate debt securities | Level 1
Cash equivalents:
Cash equivalents	0	0
Fair value, measurements, recurring | Corporate debt securities | Level 1 | Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Fair value, measurements, recurring | Corporate debt securities | Level 1 | Long-Term Investments
Short-term investments:
Short and long-term investments	0	0
Fair value, measurements, recurring | Corporate debt securities | Level 2
Cash equivalents:
Cash equivalents	4.3	18.2
Fair value, measurements, recurring | Corporate debt securities | Level 2 | Short-Term Investments
Short-term investments:
Short and long-term investments	936.8	935.9
Fair value, measurements, recurring | Corporate debt securities | Level 2 | Long-Term Investments
Short-term investments:
Short and long-term investments	3,476.5	3,151.3
Fair value, measurements, recurring | Corporate debt securities | Level 3
Cash equivalents:
Cash equivalents	0	0
Fair value, measurements, recurring | Corporate debt securities | Level 3 | Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Fair value, measurements, recurring | Corporate debt securities | Level 3 | Long-Term Investments
Short-term investments:
Short and long-term investments	0	0
Fair value, measurements, recurring | U.S. government and agency securities
Cash equivalents:
Cash equivalents	18	149.6
Fair value, measurements, recurring | U.S. government and agency securities | Short-Term Investments
Short-term investments:
Short and long-term investments	15.6	2.7
Fair value, measurements, recurring | U.S. government and agency securities | Long-Term Investments
Short-term investments:
Short and long-term investments	83.4	19
Fair value, measurements, recurring | U.S. government and agency securities | Level 1
Cash equivalents:
Cash equivalents	0	0
Fair value, measurements, recurring | U.S. government and agency securities | Level 1 | Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Fair value, measurements, recurring | U.S. government and agency securities | Level 1 | Long-Term Investments
Short-term investments:
Short and long-term investments	0	0
Fair value, measurements, recurring | U.S. government and agency securities | Level 2
Cash equivalents:
Cash equivalents	18	149.6
Fair value, measurements, recurring | U.S. government and agency securities | Level 2 | Short-Term Investments
Short-term investments:
Short and long-term investments	15.6	2.7
Fair value, measurements, recurring | U.S. government and agency securities | Level 2 | Long-Term Investments
Short-term investments:
Short and long-term investments	83.4	19
Fair value, measurements, recurring | U.S. government and agency securities | Level 3
Cash equivalents:
Cash equivalents	0	0
Fair value, measurements, recurring | U.S. government and agency securities | Level 3 | Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Fair value, measurements, recurring | U.S. government and agency securities | Level 3 | Long-Term Investments
Short-term investments:
Short and long-term investments	0	0
Fair value, measurements, recurring | Certificates of deposit | Short-Term Investments
Short-term investments:
Short and long-term investments	1	20.6
Fair value, measurements, recurring | Certificates of deposit | Level 1 | Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Fair value, measurements, recurring | Certificates of deposit | Level 2 | Short-Term Investments
Short-term investments:
Short and long-term investments	1	20.6
Fair value, measurements, recurring | Certificates of deposit | Level 3 | Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Fair value, measurements, recurring | Non-U.S. government and agency securities | Short-Term Investments
Short-term investments:
Short and long-term investments	3.1	4.2
Fair value, measurements, recurring | Non-U.S. government and agency securities | Long-Term Investments
Short-term investments:
Short and long-term investments	26	54.4
Fair value, measurements, recurring | Non-U.S. government and agency securities | Level 1 | Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Fair value, measurements, recurring | Non-U.S. government and agency securities | Level 1 | Long-Term Investments
Short-term investments:
Short and long-term investments	0	0
Fair value, measurements, recurring | Non-U.S. government and agency securities | Level 2 | Short-Term Investments
Short-term investments:
Short and long-term investments	3.1	4.2
Fair value, measurements, recurring | Non-U.S. government and agency securities | Level 2 | Long-Term Investments
Short-term investments:
Short and long-term investments	26	54.4
Fair value, measurements, recurring | Non-U.S. government and agency securities | Level 3 | Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Fair value, measurements, recurring | Non-U.S. government and agency securities | Level 3 | Long-Term Investments
Short-term investments:
Short and long-term investments	0	0
Fair value, measurements, recurring | Asset-backed securities | Short-Term Investments
Short-term investments:
Short and long-term investments	15.5	0.3
Fair value, measurements, recurring | Asset-backed securities | Long-Term Investments
Short-term investments:
Short and long-term investments	973.9	948.5
Fair value, measurements, recurring | Asset-backed securities | Level 1 | Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Fair value, measurements, recurring | Asset-backed securities | Level 1 | Long-Term Investments
Short-term investments:
Short and long-term investments	0	0
Fair value, measurements, recurring | Asset-backed securities | Level 2 | Short-Term Investments
Short-term investments:
Short and long-term investments	15.5	0.3
Fair value, measurements, recurring | Asset-backed securities | Level 2 | Long-Term Investments
Short-term investments:
Short and long-term investments	973.9	948.5
Fair value, measurements, recurring | Asset-backed securities | Level 3 | Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Fair value, measurements, recurring | Asset-backed securities | Level 3 | Long-Term Investments
Short-term investments:
Short and long-term investments	0	0
Fair value, measurements, recurring | Foreign Exchange Forward
Other assets:
Foreign currency forward contracts	3	0.1
Accrued and other liabilities:
Foreign currency forward contracts	28.2	15.3
Other long-term liabilities:
Foreign currency forward contracts	2.5	0.9
Fair value, measurements, recurring | Foreign Exchange Forward | Level 1
Other assets:
Foreign currency forward contracts	0	0
Accrued and other liabilities:
Foreign currency forward contracts	0	0
Other long-term liabilities:
Foreign currency forward contracts	0	0
Fair value, measurements, recurring | Foreign Exchange Forward | Level 2
Other assets:
Foreign currency forward contracts	3	0.1
Accrued and other liabilities:
Foreign currency forward contracts	28.2	15.3
Other long-term liabilities:
Foreign currency forward contracts	2.5	0.9
Fair value, measurements, recurring | Foreign Exchange Forward | Level 3
Other assets:
Foreign currency forward contracts	0	0
Accrued and other liabilities:
Foreign currency forward contracts	0	0
Other long-term liabilities:
Foreign currency forward contracts	$ 0	$ 0

Fair Value Measurements (Reconc

Fair Value Measurements (Reconciliation of Our Contingent Consideration Liability) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jan. 31, 2025	Jan. 31, 2025
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Contingent consideration liability at the beginning of the period	$ 655.2	$ 0
Initial valuation on the acquisition date	0	648.9
Change in fair value	9.7	16
Contingent consideration liability at the end of the period	$ 664.9	$ 664.9

Cash Equivalents and Investme_3

Cash Equivalents and Investments (Available-for-Sale Securities) (Details) - USD ($) $ in Millions	Jan. 31, 2025	Jul. 31, 2024
Debt Securities, Available-for-sale
Amortized Cost	$ 5,848.3
Fair Value	5,866.5
Cash equivalents:
Debt Securities, Available-for-sale
Amortized Cost	300	$ 467.4
Unrealized Gains	0.1	0
Unrealized Losses	0	0
Fair Value	300.1	467.4
Cash equivalents: | Commercial paper
Debt Securities, Available-for-sale
Amortized Cost	277.7	299.6
Unrealized Gains	0.1	0
Unrealized Losses	0	0
Fair Value	277.8	299.6
Cash equivalents: | Corporate debt securities
Debt Securities, Available-for-sale
Amortized Cost	4.3	18.2
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	4.3	18.2
Cash equivalents: | U.S. government and agency securities
Debt Securities, Available-for-sale
Amortized Cost	18	149.6
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	18	149.6
Investments:
Debt Securities, Available-for-sale
Amortized Cost	5,548.3	5,188.9
Unrealized Gains	27.4	35.4
Unrealized Losses	(9.3)	(7.5)
Fair Value	5,566.4	5,216.8
Investments: | Corporate debt securities
Debt Securities, Available-for-sale
Amortized Cost	4,401.7	4,065.5
Unrealized Gains	20.3	28.3
Unrealized Losses	(8.7)	(6.6)
Fair Value	4,413.3	4,087.2
Investments: | U.S. government and agency securities
Debt Securities, Available-for-sale
Amortized Cost	99.1	21.9
Unrealized Gains	0	0
Unrealized Losses	(0.1)	(0.2)
Fair Value	99	21.7
Investments: | Certificates of deposit
Debt Securities, Available-for-sale
Amortized Cost	1	20.6
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	1	20.6
Investments: | Commercial paper
Debt Securities, Available-for-sale
Amortized Cost	34.6	79.9
Unrealized Gains	0	0.1
Unrealized Losses	0	(0.1)
Fair Value	34.6	79.9
Investments: | Non-U.S. government and agency securities
Debt Securities, Available-for-sale
Amortized Cost	28.8	57.9
Unrealized Gains	0.3	0.7
Unrealized Losses	0	0
Fair Value	29.1	58.6
Investments: | Asset-backed securities
Debt Securities, Available-for-sale
Amortized Cost	983.1	943.1
Unrealized Gains	6.8	6.3
Unrealized Losses	(0.5)	(0.6)
Fair Value	$ 989.4	$ 948.8

Cash Equivalents and Investme_4

Cash Equivalents and Investments (Available-for-sale Debt Securities Narrative) (Details) - USD ($) $ in Millions	Jan. 31, 2025	Jul. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Gross unrealized losses for available-for-sale debt securities in a continuous unrealized loss position for less than 12 months	$ (8.9)	$ (1.5)
Available-for-sale debt securities in a continuous unrealized loss position for less than 12 months	1,500	949.4
Gross unrealized losses for available-for-sale debt securities in a continuous unrealized loss position for more than 12 months	(0.4)	(6)
Available-for-sale debt securities in a continuous unrealized loss position for more than 12 months	$ 215.4	$ 915.3

Cash Equivalents and Investme_5

Cash Equivalents and Investments (Available-for-Sale Securities, Contractual Maturities) (Details) $ in Millions	Jan. 31, 2025 USD ($)
Amortized Cost
Due within one year	$ 1,305.4
Due between one and three years	1,769.2
Due between three and five years	2,453.7
Due between five and ten years	206.1
Due after ten years	113.9
Amortized Cost	5,848.3
Fair Value
Due within one year	1,306.7
Due between one and three years	1,776.7
Due between three and five years	2,461
Due between five and ten years	207
Due after ten years	115.1
Fair Value	$ 5,866.5

Cash Equivalents and Investme_6

Cash Equivalents and Investments (Marketable Equity Securities) (Details) - Marketable equity securities - Money market funds - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024	Jul. 31, 2024
Debt and Equity Securities, FV-NI
Securities unrealized gains (losses) recognized	$ 0	$ 0	$ 0	$ 0
Cash and cash equivalents
Debt and Equity Securities, FV-NI
Carrying value	$ 1,300,000,000		$ 1,300,000,000		$ 494,000,000

Financing Receivables (Short an

Financing Receivables (Short and Long-term Financing Receivables) (Details) - USD ($) $ in Millions	Jan. 31, 2025	Jul. 31, 2024
Receivables [Abstract]
Short-term financing receivables, gross	$ 859.7	$ 830.2
Unearned income	(99)	(95.7)
Allowance for credit losses	(5.8)	(8.6)
Short-term financing receivables, net	754.9	725.9
Long-term financing receivables, gross	1,263	1,286.4
Unearned income	(89.6)	(94.6)
Allowance for credit losses	(9.6)	(9.7)
Long-term financing receivables, net	$ 1,163.8	$ 1,182.1

Financing Receivables (Internal

Financing Receivables (Internal Credit Risk) (Details) - USD ($) $ in Millions	Jan. 31, 2025	Jul. 31, 2024
Financing Receivable, Credit Quality Indicator [Line Items]
Remainder of fiscal year	$ 201.4
Current fiscal year	1,196.3	$ 1,161.3
Fiscal year before current fiscal year	495	674.3
Two years before current fiscal year	9.5	36.1
Three years before current fiscal year	31.9	54.6
Total	1,934.1	1,926.3
1 to 4
Financing Receivable, Credit Quality Indicator [Line Items]
Remainder of fiscal year	45.3
Current fiscal year	867.3	885.9
Fiscal year before current fiscal year	354.8	477.3
Two years before current fiscal year	9.2	14.7
Three years before current fiscal year	21.5	44.4
Total	1,298.1	1,422.3
5 to 6
Financing Receivable, Credit Quality Indicator [Line Items]
Remainder of fiscal year	156
Current fiscal year	326.9	272.2
Fiscal year before current fiscal year	121.9	172
Two years before current fiscal year	0	21.1
Three years before current fiscal year	1.1	1.1
Total	605.9	466.4
7 to 10
Financing Receivable, Credit Quality Indicator [Line Items]
Remainder of fiscal year	0.1
Current fiscal year	2.1	3.2
Fiscal year before current fiscal year	18.3	25
Two years before current fiscal year	0.3	0.3
Three years before current fiscal year	9.3	9.1
Total	$ 30.1	$ 37.6

Derivative Instruments (Details

Derivative Instruments (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jan. 31, 2025	Jul. 31, 2024
Derivative [Line Items]
Unrealized losses in AOCI related to cash flow hedges	$ (16)	$ (10.6)
Losses expected to be recognized into earnings within the next 12 months	(14.1)
Cash Flow Hedging
Derivative [Line Items]
Total notional amount	1,000	804.8
Not Designated as Hedging Instrument
Derivative [Line Items]
Total notional amount	$ 567.2	$ 375.6
Foreign exchange contract
Derivative [Line Items]
Maximum contract term of cash flow hedge	24 months

Acquisition (Schedule of Purcha

Acquisition (Schedule of Purchase Consideration) (Details) - IBM’s QRadar Assets $ in Millions	Aug. 31, 2024 USD ($)
Business Acquisition
Cash	$ 500
Fair value of contingent consideration liability	648.9
Return of purchase consideration	(6.3)
Total	$ 1,142.6

Acquisition (Narrative) (Detail

Acquisition (Narrative) (Details) - IBM’s QRadar Assets - USD ($) $ in Millions		3 Months Ended	6 Months Ended
	Aug. 31, 2024	Jan. 31, 2025	Jan. 31, 2025
Business Acquisition
Return of purchase consideration	$ 6.3
Returned consideration received		$ 0.5	$ 0.5
Undiscounted contingent consideration, value, low	500
Undiscounted contingent consideration, value, high	$ 900

Acquisition (Purchase Price All

Acquisition (Purchase Price Allocation) (Details) - USD ($) $ in Millions	Jan. 31, 2025	Aug. 31, 2024	Jul. 31, 2024
Business Acquisition
Goodwill	$ 4,050.8		$ 3,350.1
IBM’s QRadar Assets
Business Acquisition
Goodwill		$ 700.7
Identified intangible assets		476
Net liabilities assumed		(34.1)
Total		$ 1,142.6

Acquisition (Intangible Assets

Acquisition (Intangible Assets Acquired as Part of Business Combination) (Details) $ in Millions	Aug. 31, 2024 USD ($)
Business Acquisition
Fair Value	$ 476
IBM’s QRadar Assets | Customer relationships
Business Acquisition
Fair Value	$ 464
Estimated Useful Life	12 years
IBM’s QRadar Assets | Developed technology
Business Acquisition
Fair Value	$ 12
Estimated Useful Life	2 years

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Goodwill) (Details) $ in Millions	6 Months Ended
	Jan. 31, 2025 USD ($)
Goodwill Rollforward
Balance as of July 31, 2024	$ 3,350.1
Goodwill acquired	700.7
Balance as of January 31, 2025	$ 4,050.8

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets (Purchased Intangible Assets by Major Class) (Details) - USD ($) $ in Millions	Jan. 31, 2025	Jul. 31, 2024
Intangible assets subject to amortization:
Total purchased intangible assets, gross carrying amount	$ 1,497.2	$ 1,015.1
Accumulated Amortization	(725.8)	(640.2)
Total	771.4
Total purchased intangible assets, net carrying amount	771.4	374.9
Developed technology
Intangible assets subject to amortization:
Gross Carrying Amount	825.9	813.9
Accumulated Amortization	(584.3)	(526.2)
Total	241.6	287.7
Customer relationships
Intangible assets subject to amortization:
Gross Carrying Amount	636.7	172.7
Accumulated Amortization	(122.5)	(96.1)
Total	514.2	76.6
Acquired intellectual property
Intangible assets subject to amortization:
Gross Carrying Amount	24.3	18.2
Accumulated Amortization	(8.9)	(7.9)
Total	15.4	10.3
Trade name and trademarks
Intangible assets subject to amortization:
Gross Carrying Amount	9.4	9.4
Accumulated Amortization	(9.4)	(9.4)
Total	0	0
Other
Intangible assets subject to amortization:
Gross Carrying Amount	0.9	0.9
Accumulated Amortization	(0.7)	(0.6)
Total	$ 0.2	$ 0.3

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets (Amortization Expense) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 44.3	$ 28.4	$ 85.6	$ 53.3

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets (Future Amortization Expense of Intangible Assets) (Details) $ in Millions	Jan. 31, 2025 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remaining 2025	$ 80.6
2026	141.6
2027	110.7
2028	89.9
2029	63.9
2030 and Thereafter	284.7
Total	$ 771.4

Debt (Convertible Senior Notes)

Debt (Convertible Senior Notes) (Details) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 30, 2020 USD ($) day shares $ / shares	Jan. 31, 2025 USD ($) shares	Jan. 31, 2024 USD ($) shares	Jan. 31, 2025 USD ($) shares	Jan. 31, 2024 USD ($) shares	Jul. 31, 2024 USD ($)
Debt Instrument, Redemption
Repayments of debt | $				$ 431.4	$ 172.3
2025 Notes
Debt Instrument, Redemption
Aggregate principal amount | $	$ 2,000
Contractual interest rate	0.375%	0.75%		0.75%
Threshold percentage of stock price trigger (in percentage)	130%
Threshold trading days (in days)	20
Threshold consecutive trading days (in days)	30
Redemption price	100%
Number of common stock convertible at initial conversion rate (in shares) | shares	40.3
Initial conversion rate (in shares per $1,000 principal amount)	0.020162
Initial conversion price (in usd per share) | $ / shares	$ 49.60
Repurchase price as percentage of principal amount in event of change	100%
Repayments of debt | $		$ 112.4	$ 126.3	$ 431.4	$ 172.3
Settlement of convertible notes (in shares) | shares		1.7	1.7	6.2	2.2
2025 Notes | Level 2
Debt Instrument, Redemption
Fair value of convertible senior notes | $		$ 2,000		$ 2,000		$ 3,200
Option to Convert - 2025 Notes | Circumstance 1
Debt Instrument, Redemption
Threshold percentage of stock price trigger (in percentage)	130%
Threshold trading days (in days)	20
Threshold consecutive trading days (in days)	30
Option to Convert - 2025 Notes | Circumstance 2
Debt Instrument, Redemption
Threshold percentage of stock price trigger (in percentage)	98%
Threshold trading days (in days)	5
Threshold consecutive trading days (in days)	5

Debt (Components of Convertible

Debt (Components of Convertible Senior Notes) (Details) - 2025 Notes - USD ($) $ in Millions	Jan. 31, 2025	Jul. 31, 2024
Debt Instrument, Redemption
Principal	$ 534.2	$ 965.6
Less: debt issuance costs, net of amortization	(0.4)	(1.7)
Net carrying amount	$ 533.8	$ 963.9

Debt (Schedule of Interest Expe

Debt (Schedule of Interest Expense Recognized) (Details) - 2025 Notes - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024
Debt Instrument, Redemption
Contractual interest expense	$ 0.6	$ 1.7	$ 1.3	$ 3.6
Amortization of debt issuance costs	0.3	1.1	0.8	2.1
Total interest expense	$ 0.9	$ 2.8	$ 2.1	$ 5.7
Effective interest rate	0.60%	0.60%	0.60%	0.60%

Debt (Note Hedges) (Details)

Debt (Note Hedges) (Details) - 2025 Note Hedges - USD ($) shares in Millions, $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024
Schedule of Note Hedge Transactions
Initial number of shares (in shares)	40.3
Aggregate proceeds	$ 370.8
Common stock shares received from exercise of note hedges (in shares)		6.2	1.7	1.7	2.2

Debt (Warrants) (Details)

Debt (Warrants) (Details) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended		3 Months Ended	6 Months Ended
	Jun. 30, 2020 USD ($) $ / shares shares	Jul. 31, 2018 USD ($) day $ / shares shares	Jan. 31, 2024 USD ($) shares	Jan. 31, 2025 day	Jan. 31, 2024 USD ($) shares
Class of Warrant or Right
Warrant trading days | day				60
Settlement of warrants			$ 0		$ 0
2025 Notes
Class of Warrant or Right
Sale price of warrants	0.375%			0.75%
2023 Warrants
Class of Warrant or Right
Warrant trading days | day		60
Initial number of shares (in shares) | shares		38.1
Strike price per share (in usd per share) | $ / shares		$ 69.63
Proceeds from issuance of warrants		$ 145.4
Settlement of warrants (in shares) | shares			11.9		18
Settlement of warrants			$ 1,700		$ 2,400
2025 Warrants
Class of Warrant or Right
Initial number of shares (in shares) | shares	40.3
Strike price per share (in usd per share) | $ / shares	$ 68.08
Proceeds from issuance of warrants	$ 202.8

Debt (Revolving Credit Facility

Debt (Revolving Credit Facility) (Details) - Revolving credit facility - USD ($)	Apr. 13, 2023	Jan. 31, 2025
Line of Credit Facility
Current borrowing capacity	$ 400,000,000
Option for additional borrowing capacity	$ 350,000,000
Revolving credit facility amount outstanding		$ 0
Minimum
Line of Credit Facility
Commitment fee rate on undrawn amounts	0.09%
Maximum
Line of Credit Facility
Commitment fee rate on undrawn amounts	0.15%
Base Rate | Minimum
Line of Credit Facility
Spread on variable rate	0%
Base Rate | Maximum
Line of Credit Facility
Spread on variable rate	0.375%
Secured Overnight Financing Rate (SOFR) | Minimum
Line of Credit Facility
Spread on variable rate	1%
Secured Overnight Financing Rate (SOFR) | Maximum
Line of Credit Facility
Spread on variable rate	1.375%

Commitments and Contingencies_2

Commitments and Contingencies (Purchase Commitments) (Details) $ in Millions	Jan. 31, 2025 USD ($)
Aggregate Future Purchase Commitments
Total	$ 4,273.6
Remaining 2025	183.5
2026	426.6
2027	571.4
2028	606.4
2029	689.5
2030 and Thereafter	1,796.2
Cloud
Aggregate Future Purchase Commitments
Total	3,921.4
Remaining 2025	47.3
2026	277.6
2027	518.1
2028	599.6
2029	686.1
2030 and Thereafter	1,792.7
Manufacturing
Aggregate Future Purchase Commitments
Total	199.4
Remaining 2025	110.2
2026	89.2
2027	0
2028	0
2029	0
2030 and Thereafter	0
Other
Aggregate Future Purchase Commitments
Total	152.8
Remaining 2025	26
2026	59.8
2027	53.3
2028	6.8
2029	3.4
2030 and Thereafter	$ 3.5

Commitments and Contingencies_3

Commitments and Contingencies (Narrative) (Details) $ in Millions			3 Months Ended	6 Months Ended
	Oct. 03, 2024 USD ($) patent	Jan. 22, 2024 patent	Jan. 31, 2025 USD ($)	Jan. 31, 2025 USD ($)	Jul. 31, 2024 USD ($)	Jan. 31, 2024 USD ($)
Long-Term Purchase Commitment
Patents infringed | patent	3	4
Verdict	$ 113.6					$ 151.5
Accrued amount for verdict			$ 142.8	$ 142.8	$ 184.4
Decrease in estimate			$ 1.4	(41.6)
Service Provider
Long-Term Purchase Commitment
Minimum purchase commitment				$ 132.7

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024	Aug. 31, 2024	Nov. 30, 2023	Aug. 31, 2022	Aug. 31, 2021	Dec. 31, 2020	Feb. 28, 2019
Equity [Abstract]
Share repurchase, authorized amount	$ 4,100		$ 4,100		$ 500	$ 316.7	$ 915	$ 676.1	$ 700	$ 1,000
Number of shares repurchased (in shares)	0	0.6	0	0.6
Aggregate purchase price		$ 66.7		$ 66.7
Weighted average price per share (in usd per share)		$ 113.34		$ 113.34
Stock repurchase, remaining authorized repurchase amount	$ 1,000		$ 1,000

Equity Award Plans (RSU and PSU

Equity Award Plans (RSU and PSU Activities) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended	6 Months Ended
	Jan. 31, 2025	Jan. 31, 2025	Jul. 31, 2024
RSUs and PSUs, Outstanding Roll Forward
Granted (in shares)	0.1	3.4
RSUs
RSUs and PSUs, Outstanding Roll Forward
Balance, beginning (in shares)		18
Granted (in shares)		4.2
Vested (in shares)		(4.8)
Forfeited (in shares)		(1.1)
Balance, ending (in shares)	16.3	16.3
RSUs and PSUs, Outstanding, Weighted-Average Grant-Date Fair Value Per Share
Balance, beginning (in usd per share)		$ 102.59
Granted (in usd per share)		190.52
Vested (in usd per share)		86.49
Forfeited (in usd per share)		106.64
Balance, ending (in usd per share)	$ 130.05	$ 130.05
RSUs and PSUs, Additional Disclosures
Aggregate intrinsic value	$ 3,000.4	$ 3,000.4	$ 2,924.4
PSUs
RSUs and PSUs, Outstanding Roll Forward
Balance, beginning (in shares)		10
Granted (in shares)		3.8
Vested (in shares)		(1.1)
Forfeited (in shares)		(3.2)
Balance, ending (in shares)	9.5	9.5
RSUs and PSUs, Outstanding, Weighted-Average Grant-Date Fair Value Per Share
Balance, beginning (in usd per share)		$ 77.95
Granted (in usd per share)		201.59
Vested (in usd per share)		64.76
Forfeited (in usd per share)		91.47
Balance, ending (in usd per share)	$ 140.37	$ 140.37
RSUs and PSUs, Additional Disclosures
Aggregate intrinsic value	$ 1,758	$ 1,758	$ 1,624.2

Equity Award Plans (RSU, PSU an

Equity Award Plans (RSU, PSU and PSO Activities, Additional Information) (Details) shares in Millions	3 Months Ended	6 Months Ended
	Jan. 31, 2025 shares	Jan. 31, 2025 shares
Share-based Compensation Arrangement by Share-based Payment Award
Granted (in shares)	0.1	3.4
Approved for future grant (in shares)	2.7	2.7
Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Service period		1 year
Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Service period		3 years
RSUs
Share-based Compensation Arrangement by Share-based Payment Award
Granted (in shares)		4.2
RSUs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting period		3 years
RSUs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting period		4 years
PSUs
Share-based Compensation Arrangement by Share-based Payment Award
Granted (in shares)		3.8
PSUs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting period		1 year
PSUs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting period		4 years
PSOs | Maximum | Fiscal Year 2018
Share-based Compensation Arrangement by Share-based Payment Award
Service period		7 years 6 months
PSOs | Maximum | Fiscal Year 2019
Share-based Compensation Arrangement by Share-based Payment Award
Service period		7 years 6 months

Equity Award Plans (Valuation A

Equity Award Plans (Valuation Assumptions) (Details) - PSUs subject to service, performance, and market conditions - $ / shares	3 Months Ended		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award
Volatility		40.90%
Expected term (in years)		2 years 8 months 12 days
Dividend yield	0%	0%	0%	0%
Risk-free interest rate, minimum			3.70%	4.50%
Risk-free interest rate, maximum	4.20%	4.50%	4.50%	5.30%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Volatility	43.50%		43.50%	40.80%
Expected term (in years)	1 year 8 months 12 days		1 year	10 months 24 days
Grant-date fair value per share (in usd per share)			$ 264.51	$ 173.46
Share price (in usd per share)	$ 287.98
Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Volatility	43.90%		47.60%	43.40%
Expected term (in years)	2 years 8 months 12 days		2 years 10 months 24 days	2 years 10 months 24 days
Grant-date fair value per share (in usd per share)			$ 305.83	$ 197.32
Share price (in usd per share)	$ 291.91	$ 174.02

Equity Award Plans (PSO Activit

Equity Award Plans (PSO Activities) (Details) - PSOs - USD ($) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended	12 Months Ended
	Jan. 31, 2025	Jul. 31, 2024
Number of Shares
Balance, beginning (in shares)	9.6
Exercised (in shares)	(5.3)
Balance, ending (in shares)	4.3	9.6
Options exercisable (in shares)	4.3
Weighted-Average Exercise Price Per Share
Balance, beginning (in usd per share)	$ 32.66
Exercised (in usd per share)	32.49
Balance, ending (in usd per share)	32.87	$ 32.66
Options exercisable, weighted-average exercise price (in usd per share)	$ 32.87
PSOs, Additional Disclosures
Weighted-average remaining contractual life (in years)	9 months 18 days	1 year 2 months 12 days
Options exercisable, weighted-average remaining contractual term (in years)	9 months 18 days
Aggregate intrinsic value	$ 654.1	$ 1,244.9
Options exercisable, aggregate intrinsic value	$ 654.1

Equity Award Plans (Allocation

Equity Award Plans (Allocation of Share-Based Compensation Expense) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024
Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total share-based compensation	$ 320.5	$ 275.3	$ 614.8	$ 546.3
Cost of revenue | Cost of product revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total share-based compensation	1.3	2.3	2.6	4.7
Cost of revenue | Cost of subscription and support revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total share-based compensation	32.3	30.7	62.7	61.3
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total share-based compensation	139.6	138.6	277.4	258.7
Sales and marketing
Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total share-based compensation	90.2	75.6	166.6	154.8
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total share-based compensation	$ 57.1	$ 28.1	$ 105.5	$ 66.8

Equity Award Plans (Allocatio_2

Equity Award Plans (Allocation of Share-based Compensation, Additional Information) (Details) $ in Billions	6 Months Ended
	Jan. 31, 2025 USD ($)
Share-Based Payment Arrangement [Abstract]
Unvested share-based awards not yet recognized	$ 2.5
Weighted-average recognition period	2 years 7 months 6 days

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Billions	3 Months Ended		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024
Income Tax Disclosure [Abstract]
Effective income tax rate provision (benefit)	17.70%	(1189.20%)	10.90%	(364.30%)
Deferred tax benefit		$ (3.2)		$ (3.2)
Deferred tax expense		1.7		1.7
Net tax benefit		$ 1.5		$ 1.5

Net Income Per Share (Computati

Net Income Per Share (Computation of Basic and Diluted Net Income Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024
Earnings Per Share [Abstract]
Net income	$ 267.3	$ 1,746.9	$ 618	$ 1,941.1
Weighted-average shares used to compute net income per share, basic (in shares)	659.3	639.3	656.5	629.7
Weighted-average effect of potentially dilutive securities:
Convertible senior notes (in shares)	8.7	25.9	10.3	24.6
Warrants related to the issuance of convertible senior notes (in shares)	25.8	25.3	25.2	28.6
Employee equity incentive plans (in shares)	15.2	24.5	17.1	24.4
Weighted-average shares used to compute net income per share, diluted (in shares)	709	715	709.1	707.3
Net income per share, basic (in usd per share)	$ 0.41	$ 2.73	$ 0.94	$ 3.08
Net income per share, diluted (in usd per share)	$ 0.38	$ 2.44	$ 0.87	$ 2.74

Net Income Per Share (Schedule

Net Income Per Share (Schedule of Antidilutive Securities Excluded from Computation) (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024
Employee equity incentive plans
Antidilutive Securities Excluded from Computation of Earnings Per Share
Employee equity incentive plans (in shares)	6.3	4.7	4.8	4.9

Other Income, Net (Details)

Other Income, Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024
Other Income and Expenses [Abstract]
Interest income	$ 86.9	$ 85.3	$ 172.6	$ 156.5
Foreign currency exchange gains (losses), net	2.4	(6.5)	(5.1)	(1.4)
Other, net	(4)	5.9	1.1	(0.1)
Total other income, net	$ 85.3	$ 84.7	$ 168.6	$ 155

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Feb. 14, 2025	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024
Subsequent Event
Repayments of debt				$ 431.4	$ 172.3
2025 Notes
Subsequent Event
Repayments of debt		$ 112.4	$ 126.3	$ 431.4	$ 172.3
2025 Notes | Subsequent Event
Subsequent Event
Repayments of debt	$ 100.4