Intuit (INTU) 10-Q 24 May 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Apr. 30, 2016	May. 18, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	INTUIT INC
Entity Central Index Key	896,878
Current Fiscal Year End Date	--07-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Apr. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		255,871,261

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015
Net revenue:
Product	$ 459	$ 442	$ 994	$ 865
Service and other	1,845	1,693	2,946	2,631
Total net revenue	2,304	2,135	3,940	3,496
Cost of revenue:
Cost of product revenue	30	33	99	108
Cost of service and other revenue	181	161	465	419
Amortization of acquired technology	5	8	17	22
Selling and marketing	423	413	1,023	1,008
Research and development	228	206	646	583
General and administrative	149	131	386	365
Amortization of other acquired intangible assets	3	3	6	9
Goodwill impairment charge	0	114	0	114
Total costs and expenses	1,019	1,069	2,642	2,628
Operating income from continuing operations	1,285	1,066	1,298	868
Interest expense	(10)	(7)	(26)	(21)
Interest and other income (expense), net	2	1	(7)	3
Income before income taxes	1,277	1,060	1,265	850
Income tax provision	429	404	419	335
Net income from continuing operations	848	656	846	515
Net income (loss) from discontinued operations	178	(155)	173	(164)
Net income	$ 1,026	$ 501	$ 1,019	$ 351
Earnings Per Share, Basic [Abstract]
Basic net income per share from continuing operations (in USD per share)	$ 3.30	$ 2.37	$ 3.21	$ 1.82
Basic net income (loss) per share from discontinued operations (in USD per share)	0.70	(0.56)	0.65	(0.58)
Basic net income per share (in USD per share)	$ 4	$ 1.81	$ 3.86	$ 1.24
Shares used in basic per share calculations (in shares)	257	277	264	282
Earnings Per Share, Diluted [Abstract]
Diluted net income per share from continuing operations (in USD per share)	$ 3.26	$ 2.33	$ 3.17	$ 1.79
Diluted net income (loss) per share from discontinued operations (in USD per share)	0.68	(0.55)	0.64	(0.57)
Diluted net income per share (in USD per share)	$ 3.94	$ 1.78	$ 3.81	$ 1.22
Shares used in diluted per share calculations (in shares)	260	282	267	288
Dividends [Abstract]
Cash dividends declared per common share (in USD per share)	$ 0.30	$ 0.25	$ 0.90	$ 0.75

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 1,026	$ 501	$ 1,019	$ 351
Other comprehensive income (loss), net of income taxes:
Foreign currency translation gains (losses)	16	2	4	(18)
Total other comprehensive income (loss), net	16	2	4	(18)
Comprehensive income	$ 1,042	$ 503	$ 1,023	$ 333

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Apr. 30, 2016	Jul. 31, 2015
Current assets:
Cash and cash equivalents	$ 1,289	$ 808
Investments	324	889
Accounts receivable, net	214	91
Income taxes receivable	4	84
Deferred income taxes	0	231
Prepaid expenses and other current assets	108	94
Current assets of discontinued operations	0	26
Current assets before funds held for customers	1,939	2,223
Funds held for customers	372	337
Total current assets	2,311	2,560
Long-term investments	28	27
Property and equipment, net	989	682
Goodwill	1,282	1,266
Acquired intangible assets, net	57	87
Long-term deferred income taxes	165	5
Other assets	108	106
Long-term assets of discontinued operations	0	235
Total assets	4,940	4,968
Current liabilities:
Short-term debt	500	0
Accounts payable	270	190
Accrued compensation and related liabilities	228	283
Deferred revenue	854	691
Income taxes payable	442	7
Other current liabilities	199	143
Current liabilities of discontinued operations	0	93
Current liabilities before customer fund deposits	2,493	1,407
Customer fund deposits	372	337
Total current liabilities	2,865	1,744
Long-term debt	500	500
Long-term deferred revenue	174	152
Other long-term obligations	153	172
Long-term obligations of discontinued operations	0	68
Total liabilities	$ 3,692	$ 2,636
Commitments and contingencies
Stockholders’ equity:
Preferred stock	$ 0	$ 0
Common stock and additional paid-in capital	4,334	4,010
Treasury stock, at cost	(9,865)	(7,675)
Accumulated other comprehensive loss	(26)	(30)
Retained earnings	6,805	6,027
Total stockholders’ equity	1,248	2,332
Total liabilities and stockholders’ equity	$ 4,940	$ 4,968

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Millions	Total	Shares of Common Stock	Common Stock and Additional Paid-In Capital	Treasury Stock	Accumulated Other Comprehensive Loss	Retained Earnings
Beginning Balance, shares at Jul. 31, 2014		284,950
Beginning Balance at Jul. 31, 2014	$ 3,078		$ 3,561	$ (6,430)	$ (2)	$ 5,949
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	333				(18)	351
Issuance of stock under employee stock plans, shares		4,431
Issuance of stock under employee stock plans	$ 129		129
Stock repurchases under stock repurchase programs, shares	(13,700)	(13,723)
Stock repurchases under stock repurchase programs	$ (1,236)			(1,236)
Dividends and dividend rights declared	(218)					(218)
Tax benefit from share-based compensation plans	51		51
Share-based compensation expense	184		184
Ending Balance, shares at Apr. 30, 2015		275,658
Ending Balance at Apr. 30, 2015	2,321		3,925	(7,666)	(20)	6,082
Beginning Balance, shares at Jul. 31, 2015		277,706
Beginning Balance at Jul. 31, 2015	2,332		4,010	(7,675)	(30)	6,027
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	1,023				4	1,019
Issuance of stock under employee stock plans, shares		2,767
Issuance of stock under employee stock plans	$ 89		89
Stock repurchases under stock repurchase programs, shares	(24,100)	(24,085)
Stock repurchases under stock repurchase programs	$ (2,190)			(2,190)
Dividends and dividend rights declared	(241)					(241)
Tax benefit from share-based compensation plans	30		30
Share-based compensation expense	205		205
Ending Balance, shares at Apr. 30, 2016		256,388
Ending Balance at Apr. 30, 2016	$ 1,248		$ 4,334	$ (9,865)	$ (26)	$ 6,805

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in USD per share)	$ 0.30	$ 0.25	$ 0.90	$ 0.75

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Apr. 30, 2016	Apr. 30, 2015
Cash flows from operating activities:
Net income	$ 1,019	$ 351
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	145	115
Amortization of acquired intangible assets	30	55
Goodwill impairment charge	0	263
Share-based compensation expense	200	184
Pre-tax gain on sale of discontinued operations	(354)	0
Deferred income taxes	40	(3)
Tax benefit from share-based compensation plans	30	51
Excess tax benefit from share-based compensation plans	(30)	(51)
Other	11	(3)
Total adjustments	72	611
Changes in operating assets and liabilities:
Accounts receivable	(125)	(76)
Income taxes receivable	79	27
Prepaid expenses and other assets	(15)	18
Accounts payable	77	125
Accrued compensation and related liabilities	(69)	(29)
Deferred revenue	213	407
Income taxes payable	435	224
Other liabilities	25	64
Total changes in operating assets and liabilities	620	760
Net cash provided by operating activities	1,711	1,722
Cash flows from investing activities:
Purchases of available-for-sale debt securities	(589)	(785)
Sales of available-for-sale debt securities	990	534
Maturities of available-for-sale debt securities	160	406
Net change in money market funds and other cash equivalents held to satisfy customer fund obligations	(35)	(41)
Net change in customer fund deposits	35	41
Purchases of property and equipment	(449)	(183)
Acquisitions of businesses, net of cash acquired	0	(95)
Proceeds from divestiture of businesses	463	0
Other	3	28
Net cash provided by (used in) investing activities	578	(95)
Cash flows from financing activities:
Proceeds from borrowings under revolving credit facilities	995	0
Repayments on borrowings under revolving credit facilities	(995)	0
Proceeds from long-term debt	500	0
Net proceeds from issuance of stock under employee stock plans	89	129
Cash paid for purchases of treasury stock	(2,190)	(1,234)
Dividends and dividend rights paid	(238)	(212)
Excess tax benefit from share-based compensation plans	30	51
Other	(5)	0
Net cash used in financing activities	(1,814)	(1,266)
Effect of exchange rates on cash and cash equivalents	6	(17)
Net increase in cash and cash equivalents	481	344
Cash and cash equivalents at beginning of period	808	849
Cash and cash equivalents at end of period	$ 1,289	$ 1,193

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	9 Months Ended
	Apr. 30, 2016
Accounting Policies [Abstract]
Description of Business and Summary of Significant Accounting Policies	Description of Business and Summary of Significant Accounting Policies Description of Business Intuit Inc. provides business and financial management solutions for small businesses, consumers, and accounting professionals. With flagship products and services that include QuickBooks and TurboTax, we help customers solve important business and financial management problems such as running a small business, paying bills, and filing income taxes. ProSeries and Lacerte are Intuit’s tax preparation offerings for professional accountants. Incorporated in 1984 and headquartered in Mountain View, California, we sell our products and services primarily in the United States. Basis of Presentation These condensed consolidated financial statements include the financial statements of Intuit and its wholly owned subsidiaries. We have eliminated all significant intercompany balances and transactions in consolidation. We have included all adjustments, consisting only of normal recurring items, which we considered necessary for a fair presentation of our financial results for the interim periods presented. We have reclassified certain amounts previously reported in our financial statements to conform to the current presentation, including amounts related to discontinued operations and reportable segments. See Note 4, “Discontinued Operations,” and Note 10, “ Segment Information ,” for more information. As discussed in Note 4, we sold our Demandforce, QuickBase, and Quicken businesses in the third quarter of fiscal 2016. We have reclassified our statements of operations for all periods presented to reflect these businesses as discontinued operations. We have also segregated the net assets of these businesses from continuing operations on our balance sheet at July 31, 2015. Because the cash flows of these businesses were not material for any period presented, we have not segregated them on our statements of cash flows. Unless noted otherwise, discussions in these notes pertain to our continuing operations. These unaudited condensed consolidated financial statements and accompanying notes should be read together with the audited consolidated financial statements in Item 8 of our Annual Report on Form 10-K for the fiscal year ended July 31, 2015 . Results for the nine months ended April 30, 2016 do not necessarily indicate the results we expect for the fiscal year ending July 31, 2016 or any other future period. Seasonality Our Consumer Tax offerings have significant seasonal patterns and revenue from those income tax preparation products and services is heavily concentrated in our third fiscal quarter ending April 30. Significant Accounting Policies We describe our significant accounting policies in Note 1 to the financial statements in Item 8 of our Annual Report on Form 10-K for the fiscal year ended July 31, 2015 . There have been no changes to our significant accounting policies during the first nine months of fiscal 2016 . Use of Estimates In preparing our consolidated financial statements in accordance with U.S. generally accepted accounting principles (GAAP), we make certain estimates and assumptions that affect the amounts reported in our financial statements and the disclosures made in the accompanying notes. For example, we use estimates in determining the appropriate levels of reserves for product returns and rebates, the collectibility of accounts receivable, the appropriate levels of various accruals including accruals for litigation contingencies, the amount of our worldwide tax provision, and the realizability of deferred tax assets. We also use estimates in determining the remaining economic lives and fair values of acquired intangible assets, property and equipment, and other long-lived assets. In addition, we use assumptions to estimate the fair value of reporting units and share-based compensation. Despite our intention to establish accurate estimates and use reasonable assumptions, actual results may differ from our estimates. Computation of Net Income (Loss) Per Share We compute basic net income or loss per share using the weighted average number of common shares outstanding during the period. We compute diluted net income per share using the weighted average number of common shares and dilutive potential common shares outstanding during the period. Dilutive potential common shares consist of the shares issuable upon the exercise of stock options and upon the vesting of restricted stock units (RSUs) under the treasury stock method. We include stock options with combined exercise prices, unrecognized compensation expense and tax benefits that are less than the average market price for our common stock, and RSUs with combined unrecognized compensation expense and tax benefits that are less than the average market price for our common stock, in the calculation of diluted net income per share. We exclude stock options with combined exercise prices, unrecognized compensation expense and tax benefits that are greater than the average market price for our common stock, and RSUs with combined unrecognized compensation expense and tax benefits that are greater than the average market price for our common stock, from the calculation of diluted net income per share because their effect is anti-dilutive. Under the treasury stock method, the amount that must be paid to exercise stock options, the amount of compensation expense for future service that we have not yet recognized for stock options and RSUs, and the amount of tax benefits that will be recorded in additional paid-in capital when the awards become deductible are assumed to be used to repurchase shares. All of the RSUs we grant have dividend rights. Dividend rights are accumulated and paid when the underlying RSUs vest. Since the dividend rights are subject to the same vesting requirements as the underlying equity awards they are considered a contingent transfer of value. Consequently, the RSUs are not considered participating securities and we do not present them separately in earnings per share. In loss periods, basic net loss per share and diluted net loss per share are the same since the effect of potential common shares is anti-dilutive and therefore excluded. The following table presents the composition of shares used in the computation of basic and diluted net income (loss) per share for the periods indicated. Three Months Ended Nine Months Ended (In millions, except per share amounts) April 30, April 30, April 30, April 30, Numerator: Net income from continuing operations $ 848 $ 656 $ 846 $ 515 Net income (loss) from discontinued operations 178 (155 ) 173 (164 ) Net income $ 1,026 $ 501 $ 1,019 $ 351 Denominator: Shares used in basic per share amounts: Weighted average common shares outstanding 257 277 264 282 Shares used in diluted per share amounts: Weighted average common shares outstanding 257 277 264 282 Dilutive common equivalent shares from stock options and restricted stock awards 3 5 3 6 Dilutive weighted average common shares outstanding 260 282 267 288 Basic and diluted net income per share: Basic net income per share from continuing operations $ 3.30 $ 2.37 $ 3.21 $ 1.82 Basic net income (loss) per share from discontinued operations 0.70 (0.56 ) 0.65 (0.58 ) Basic net income per share $ 4.00 $ 1.81 $ 3.86 $ 1.24 Diluted net income per share from continuing operations $ 3.26 $ 2.33 $ 3.17 $ 1.79 Diluted net income (loss) per share from discontinued operations 0.68 (0.55 ) 0.64 (0.57 ) Diluted net income per share $ 3.94 $ 1.78 $ 3.81 $ 1.22 Shares excluded from computation of diluted net income per share: Weighted average stock options and restricted stock units excluded from computation due to anti-dilutive effect 2 — 2 2 Concentration of Credit Risk and Significant Customers No customer accounted for 10% or more of total net revenue in the three or nine months ended April 30, 2016 or April 30, 2015 . No customer accounted for 10% or more of gross accounts receivable at April 30, 2016 or July 31, 2015 . Recent Accounting Pronouncements ASU 2016-09 , “Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” In March 2016 the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-09, “ Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. ” ASU 2016-09 is designed to simplify several aspects of accounting for share-based payment award transactions, which include the income tax consequences, classification of awards as either equity or liabilities, classification on the statement of cash flows and forfeiture rate calculations. ASU 2016-09 is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years, which means that it will be effective for us in the first quarter of our fiscal year beginning August 1, 2017. Early adoption is permitted. We are currently evaluating the impact of our pending adoption of ASU 2016-09 on our consolidated financial statements. ASU 2016-02 , “Leases (Topic 842)” In February 2016 the FASB issued ASU 2016-02, “ Leases (Topic 842). ” ASU 2016-02 amends a number of aspects of lease accounting, including requiring lessees to recognize operating leases with a term greater than one year on their balance sheet as a right-of-use asset and corresponding lease liability, measured at the present value of the lease payments. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, which means that it will be effective for us in the first quarter of our fiscal year beginning August 1, 2019. Early adoption is permitted. This ASU is required to be adopted using a modified retrospective approach. We are currently evaluating the impact of our pending adoption of ASU 2016-02 on our consolidated financial statements. ASU 2015-16 , “Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments” In September 2015 the FASB issued ASU 2015-16, “ Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. ” ASU 2015-16 eliminates the requirement for an acquirer to retrospectively adjust provisional amounts recorded in a business combination to reflect new information about the facts and circumstances that existed as of the acquisition date and that, if known, would have affected measurement or recognition of amounts initially recognized. As an alternative, the amendment requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments require that the acquirer record, in the financial statements of the period in which adjustments to provisional amounts are determined, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. ASU 2015-16 is effective prospectively for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years, which means that it will be effective for us in the first quarter of our fiscal year beginning August 1, 2016. Early adoption is permitted. We are currently evaluating the impact of our pending adoption of ASU 2015-16 on our consolidated financial statements. ASU 2014-09 , “Revenue from Contracts with Customers (Topic 606)” In May 2014 the FASB issued ASU 2014-09, “ Revenue from Contracts with Customers (Topic 606) ,” and in August 2015 the FASB issued ASU 2015-14, “ Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date ,” which defers the effective date of ASU 2014-09 by one year. ASU 2014-09 supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, it is possible that more judgment and estimates may be required within the revenue recognition process than is required under present U.S. GAAP. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price, and allocating the transaction price to each separate performance obligation. The new standard also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. ASU 2014-09 is effective for reporting periods beginning after December 15, 2017, which means that it will be effective for us in the first quarter of our fiscal year beginning August 1, 2018. Early adoption of one year prior to the required effective date is permitted. ASU 2014-09 allows adoption using either of two methods: (i) retrospective to each prior reporting period presented, with the option to elect certain practical expedients; or (ii) retrospective with the cumulative effect of initially applying ASU 2014-09 recognized at the date of initial application and providing certain additional disclosures. We are currently evaluating the impact of our pending adoption of ASU 2014-09 on our consolidated financial statements. We do not expect that any other recently issued accounting pronouncements will have a significant effect on our financial statements.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Apr. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The authoritative guidance defines fair value as the price that would be received from the sale of an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. When determining fair value, we consider the principal or most advantageous market for an asset or liability and assumptions that market participants would use when pricing the asset or liability. In addition, we consider and use all valuation methods that are appropriate in estimating the fair value of an asset or liability. The authoritative guidance establishes a fair value hierarchy that is based on the extent and level of judgment used to estimate the fair value of assets and liabilities. In general, the authoritative guidance requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. An asset or liability’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the measurement of its fair value. The three levels of input defined by the authoritative guidance are as follows: • Level 1 uses unadjusted quoted prices that are available in active markets for identical assets or liabilities. • Level 2 uses inputs other than quoted prices included in Level 1 that are either directly or indirectly observable through correlation with market data. These include quoted prices in active markets for similar assets or liabilities; quoted prices for identical or similar assets or liabilities in markets that are not active; and inputs to valuation models or other pricing methodologies that do not require significant judgment because the inputs used in the model, such as interest rates and volatility, can be corroborated by readily observable market data for substantially the full term of the assets or liabilities. • Level 3 uses one or more unobservable inputs that are supported by little or no market activity and that are significant to the determination of fair value. Level 3 assets and liabilities include those whose fair values are determined using pricing models, discounted cash flow methodologies or similar valuation techniques and significant management judgment or estimation. Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table summarizes financial assets and financial liabilities that we measured at fair value on a recurring basis at the dates indicated, classified in accordance with the fair value hierarchy described above. April 30, 2016 July 31, 2015 (In millions) Level 1 Level 2 Level 3 Total Fair Value Level 1 Level 2 Level 3 Total Fair Value Assets: Cash equivalents, primarily money market funds $ 729 $ — $ — $ 729 $ 695 $ — $ — $ 695 Available-for-sale debt securities: Municipal bonds — 175 — 175 — 506 — 506 Corporate notes — 241 — 241 — 546 — 546 U.S. agency securities — 83 — 83 — 12 — 12 Municipal auction rate securities — — 15 15 — — 15 15 Total available-for-sale securities — 499 15 514 — 1,064 15 1,079 Total assets measured at fair value on a recurring basis $ 729 $ 499 $ 15 $ 1,243 $ 695 $ 1,064 $ 15 $ 1,774 Liabilities: Senior notes (1) $ — $ 520 $ — $ 520 $ — $ 531 $ — $ 531 ______________________________ (1) Carrying value on our balance sheets at April 30, 2016 was $500 million and at July 31, 2015 was $500 million. See Note 5, “Current Liabilities – Short-Term Debt,” for more information. The following table summarizes our cash equivalents and available-for-sale debt securities by balance sheet classification and level in the fair value hierarchy at the dates indicated. April 30, 2016 July 31, 2015 (In millions) Level 1 Level 2 Level 3 Total Fair Value Level 1 Level 2 Level 3 Total Fair Value Cash equivalents: In cash and cash equivalents $ 532 $ — $ — $ 532 $ 533 $ — $ — $ 533 In funds held for customers 197 — — 197 162 — — 162 Total cash equivalents $ 729 $ — $ — $ 729 $ 695 $ — $ — $ 695 Available-for-sale securities: In investments $ — $ 324 $ — $ 324 $ — $ 889 $ — $ 889 In funds held for customers — 175 — 175 — 175 — 175 In long-term investments — — 15 15 — — 15 15 Total available-for-sale securities $ — $ 499 $ 15 $ 514 $ — $ 1,064 $ 15 $ 1,079 We value our Level 1 assets, consisting primarily of money market funds, using quoted prices in active markets for identical instruments. Financial assets whose fair values we measure on a recurring basis using Level 2 inputs consist of municipal bonds, corporate notes, and U.S. agency securities. We measure the fair values of these assets with the help of a pricing service that either provides quoted market prices in active markets for identical or similar securities or uses observable inputs for their pricing without applying significant adjustments. Our fair value processes include controls that are designed to ensure that we record appropriate fair values for our Level 2 investments. These controls include comparison to pricing provided by a secondary pricing service or investment manager, validation of pricing sources and models, review of key model inputs, analysis of period-over-period price fluctuations, and independent recalculation of prices where appropriate. Financial liabilities whose fair values we measure using Level 2 inputs consist of senior unsecured notes. See Note 5, “ Current Liabilities – Short-Term Debt,” for more information. We measure the fair value of our senior notes based on their trading prices and the interest rates we could obtain for other borrowings with similar terms. Financial assets whose fair values we measure using significant unobservable (Level 3) inputs consist of municipal auction rate securities that are no longer liquid. We estimate the fair values of the auction rate securities using a discounted cash flow model. We continue to classify them as long-term investments based on the maturities of the underlying securities at that date. We do not intend to sell our municipal auction rate securities. In addition, it is more likely than not that we will not be required to sell them before recovery at par, which may be at maturity. There were no transfers between Level 1, Level 2, and Level 3 of the fair value hierarchy during the nine months ended April 30, 2016 .

Cash and Cash Equivalents, Inve

Cash and Cash Equivalents, Investments and Funds Held for Customers	9 Months Ended
	Apr. 30, 2016
Cash and Cash Equivalents, Investments and Funds Held for Customers [Abstract]
Cash and Cash Equivalents, Investments and Funds Held for Customers	Cash and Cash Equivalents, Investments and Funds Held for Customers We consider highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents. Cash equivalents consist primarily of AAA-rated money market funds in all periods presented. Investments at July 31, 2015 consisted of available-for-sale investment-grade debt securities that we carried at fair value. Funds held for customers consist of cash and cash equivalents and investment grade available-for-sale debt securities in all periods presented. Except for direct obligations of the United States government, securities issued by agencies of the United States government, and money market funds, we diversify our investments in debt securities by limiting our holdings with any individual issuer. The following table summarizes our cash and cash equivalents, investments, and funds held for customers by balance sheet classification at the dates indicated. April 30, 2016 July 31, 2015 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value Classification on balance sheets: Cash and cash equivalents $ 1,289 $ 1,289 $ 808 $ 808 Investments 324 324 890 889 Funds held for customers 372 372 337 337 Long-term investments 28 28 27 27 Total cash and cash equivalents, investments, and funds held for customers $ 2,013 $ 2,013 $ 2,062 $ 2,061 The following table summarizes our cash and cash equivalents, investments, and funds held for customers by investment category at the dates indicated. April 30, 2016 July 31, 2015 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value Type of issue: Total cash and cash equivalents $ 1,486 $ 1,486 $ 970 $ 970 Available-for-sale debt securities: Municipal bonds 175 175 507 506 Corporate notes 241 241 546 546 U.S. agency securities 83 83 12 12 Municipal auction rate securities 15 15 15 15 Total available-for-sale debt securities 514 514 1,080 1,079 Other long-term investments 13 13 12 12 Total cash and cash equivalents, investments, and funds held for customers $ 2,013 $ 2,013 $ 2,062 $ 2,061 We use the specific identification method to compute gains and losses on investments. We include realized gains and losses on our available-for-sale debt securities in interest and other income or expense, net in our statements of operations. Gross realized gains and losses on our available-for-sale debt securities for the three and nine months ended April 30, 2016 and April 30, 2015 were not significant. We accumulate unrealized gains and losses on our available-for-sale debt securities, net of tax, in accumulated other comprehensive income or loss in the stockholders’ equity section of our balance sheets. Gross unrealized gains and losses on our available-for-sale debt securities at April 30, 2016 and July 31, 2015 were not significant. We periodically review our investment portfolios to determine if any investment is other-than-temporarily impaired due to changes in credit risk or other potential valuation concerns. We believe that the investments we held at April 30, 2016 were not other-than-temporarily impaired. Unrealized losses on available-for-sale debt securities at April 30, 2016 were not significant and were due to changes in interest rates, including market credit spreads, and not due to increased credit risks associated with specific securities. We do not intend to sell these investments. In addition, it is more likely than not that we will not be required to sell them before recovery at par, which may be at maturity. The following table summarizes our available-for-sale debt securities classified by the stated maturity date of the security at the dates indicated. April 30, 2016 July 31, 2015 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value Due within one year $ 189 $ 189 $ 434 $ 435 Due within two years 125 125 443 442 Due within three years 75 75 156 156 Due after three years 125 125 47 46 Total available-for-sale debt securities $ 514 $ 514 $ 1,080 $ 1,079 Available-for-sale debt securities due after three years in the table above include our municipal auction rate securities. See Note 2, “Fair Value Measurements,” for more information. All of the remaining securities in that category had interest reset dates or mandatory call dates within three years of the dates indicated in the table.

Discontinued Operations

Discontinued Operations	9 Months Ended
	Apr. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations On February 1, 2016 we completed the sale of our Demandforce business. On April 1, 2016 we completed the sales of our QuickBase and Quicken businesses. We received $ 463 million in cash and recorded a $ 354 million pre-tax gain on the disposal of these three businesses. The pre-tax gain was partially offset by a related income tax provision of $178 million, resulting in a net gain on disposal of $176 million in the third quarter of fiscal 2016. We classified our Demandforce, QuickBase, and Quicken businesses as discontinued operations and have therefore segregated their operating results from continuing operations in our statements of operations for all periods presented. We have also segregated the net assets of these businesses from continuing operations on our balance sheet at July 31, 2015. Because the cash flows of these businesses were not material for any period presented, we have not segregated them on our statements of cash flows. Demandforce and QuickBase were part of our Small Business segment and Quicken was part of our former Consumer segment. Net revenue from discontinued operations, income (loss) from discontinued operations before income taxes, and the components of net income (loss) from discontinued operations were as follows for the periods indicated: Three Months Ended Nine Months Ended (In millions) April 30, April 30, April 30, April 30, Net revenue from discontinued operations: Demandforce $ — $ 28 $ 49 $ 89 QuickBase 14 18 54 52 Quicken 8 13 34 38 Total net revenue from discontinued operations $ 22 $ 59 $ 137 $ 179 Income (loss) from discontinued operations before income taxes: Demandforce $ — $ (18 ) $ (10 ) $ (46 ) QuickBase 4 3 10 10 Quicken (1 ) (146 ) (2 ) (139 ) Total income (loss) from discontinued operations before income taxes $ 3 $ (161 ) $ (2 ) $ (175 ) Net income (loss) from discontinued operations: Net loss from Demandforce operations $ — $ (9 ) $ (6 ) $ (28 ) Net income from QuickBase operations 2 1 6 6 Net loss from Quicken operations — (147 ) — (142 ) Net gain on disposal of Demandforce, QuickBase, and Quicken 176 — 173 — Total net income (loss) from discontinued operations $ 178 $ (155 ) $ 173 $ (164 )

Current Liabilities

Current Liabilities	9 Months Ended
	Apr. 30, 2016
Other Liabilities Disclosure [Abstract]
Current Liabilities	Current Liabilities Short-Term Debt On March 12, 2007 we issued $500 million of 5.75% senior unsecured notes due on March 15, 2017. We carried these notes at face value less the unamortized discount on our balance sheets at April 30, 2016 and July 31, 2015 . Because their contractual maturities are now within one year, we transferred the notes from long-term liabilities to current liabilities during the third quarter of fiscal 2016. The notes are redeemable by Intuit at any time, subject to a make-whole premium, and include covenants that limit our ability to grant liens on our facilities and to enter into sale and leaseback transactions, subject to significant allowances. We remained in compliance with these covenants at all times during the quarter ended April 30, 2016 . Interest on the notes is payable semi-annually on March 15 and September 15. We paid $29 million in cash for interest on the notes during the nine months ended April 30, 2016 and $29 million in cash for interest on the notes during the nine months ended April 30, 2015 . Unsecured Revolving Credit Facilities On February 17, 2012 we entered into an agreement with certain institutional lenders for an unsecured revolving credit facility that was due to expire on February 17, 2017. On February 1, 2016 the $745 million outstanding balance was paid in full and the credit facility was terminated. On February 1, 2016 we entered into a master credit agreement with certain institutional lenders for a new five -year credit facility in an aggregate principal amount of $1.5 billion . The master credit agreement includes a $500 million unsecured term loan and a $1 billion unsecured revolving credit facility that will expire on February 1, 2021. See Note 6, “ Long-Term Obligations and Commitments – Long-Term Debt,” for more information regarding the term loan. Under the new master credit agreement we may, subject to certain customary conditions, on one or more occasions increase commitments under the revolving credit facility in an amount not to exceed $250 million in the aggregate and may extend the maturity date up to two times. Advances under the revolving credit facility accrue interest at rates that are equal to, at our election, either Bank of America's alternate base rate plus a margin that ranges from 0.0% to 0.5% or the London Interbank Offered Rate (LIBOR) plus a margin that ranges from 0.9% to 1.5% . Actual margins under either election will be based on our senior debt credit ratings. The master credit agreement includes customary affirmative and negative covenants, including financial covenants that require us to maintain a ratio of total debt to annual earnings before interest, taxes, depreciation and amortization (EBITDA) of not greater than 3.25 to 1.00 as of any date and a ratio of annual EBITDA to annual interest expense of not less than 3.00 to 1.00 as of the last day of each fiscal quarter. We remained in compliance with these covenants at all times during the quarter ended April 30, 2016 . During the third quarter of fiscal 2016 we borrowed and repaid $250 million under this revolving credit facility and at April 30, 2016 no amounts were outstanding. Other Current Liabilities Other current liabilities were as follows at the dates indicated: (In millions) April 30, July 31, Reserve for product returns $ 32 $ 12 Reserve for rebates 26 12 Current portion of license fee payable 10 10 Current portion of deferred rent 7 8 Interest payable 4 10 Executive deferred compensation plan liabilities 67 63 Other 53 28 Total other current liabilities $ 199 $ 143 The balances of several of our other current liabilities, particularly our reserves for product returns and rebates, are affected by the seasonality of our business. See Note 1, “Description of Business and Summary of Significant Accounting Policies – Seasonality,” for more information.

Long-Term Obligations and Commi

Long-Term Obligations and Commitments	9 Months Ended
	Apr. 30, 2016
Long-Term Obligations [Abstract]
Long-Term Obligations and Commitments	Long-Term Obligations and Commitments Long-Term Debt On February 1, 2016 we entered into a master credit agreement with certain institutional lenders for a new five -year credit facility in an aggregate principal amount of $1.5 billion . The master credit agreement includes a $500 million unsecured term loan and a $1 billion unsecured revolving credit facility that will expire on February 1, 2021. See Note 5, “ Current Liabilities – Unsecured Revolving Credit Facilities,” for more information regarding the revolving credit facility. Under the master credit agreement we may, subject to certain customary conditions, on one or more occasions increase commitments under the term loan in an amount not to exceed $500 million in the aggregate. The term loan accrues interest at rates that are equal to, at our election, either Bank of America's alternate base rate plus a margin that ranges from 0.125% to 0.875% or LIBOR plus a margin that ranges from 1.125% to 1.875% . Actual margins under either election will be based on our senior debt credit ratings. The master credit agreement includes customary affirmative and negative covenants. See Note 5, “ Current Liabilities – Unsecured Revolving Credit Facilities,” for more information. The term loan is subject to quarterly principal payments of 2.5% of the loan amount beginning in July 2017, with the balance payable on February 1, 2021. At April 30, 2016 , $500 million was outstanding under the term loan. Interest on the term loan is payable monthly. We paid $1 million in cash for interest on the term loan during the three months ended April 30, 2016 . Other Long-Term Obligations Other long-term obligations were as follows at the dates indicated: (In millions) April 30, July 31, Total deferred rent $ 57 $ 49 Total license fee payable 36 34 Long-term income tax liabilities 51 45 Long-term deferred income tax liabilities 5 50 Other 22 13 Total long-term obligations 171 191 Less current portion (included in other current liabilities) (18 ) (19 ) Long-term obligations due after one year $ 153 $ 172 Operating Lease Commitments We describe our operating lease commitments in Note 9 to the financial statements in Item 8 of our Annual Report on Form 10-K for the fiscal year ended July 31, 2015 . In January 2016 we completed the purchase of certain leased facilities for $262 million in cash. The lease on these facilities was scheduled to expire in July 2017 and the remaining operating lease commitment was not significant. There were no other significant changes in our operating lease commitments during the first nine months of fiscal 2016 .

Income Taxes

Income Taxes	9 Months Ended
	Apr. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Adoption of ASU 2015-17, “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes” In the second quarter of fiscal 2016, we elected to early adopt ASU 2015-17, “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes,” on a prospective basis . This new standard requires all deferred tax assets and liabilities, and any related valuation allowance, to be classified as noncurrent on the balance sheet. Prior periods were not adjusted. Effective Tax Rate We compute our provision for or benefit from income taxes by applying the estimated annual effective tax rate to income or loss from recurring operations and adding the effects of any discrete income tax items specific to the period. In December 2015 the Consolidated Appropriations Act, 2016 was signed into law. The Act includes a permanent reinstatement of the federal research and experimentation credit that was retroactive to January 1, 2015. We recorded a discrete tax benefit of approximately $ 12 million for the retroactive effect during the second quarter of fiscal 2016. Our effective tax rates for the three and nine months ended April 30, 2016 were approximately 34% and 33% and did not differ significantly from the federal statutory rate of 35% . The tax benefit we received from the domestic production activities deduction and the federal research and experimentation credit were partially offset by the tax expense related to share-based compensation, state income taxes, and the effects of losses in certain jurisdictions where we do not recognize a tax benefit in both periods. Our effective tax rates for the three and nine months ended April 30, 2015 were approximately 38% and 39% . Excluding discrete tax items primarily related to the goodwill impairment and the reinstatement of the federal research and experimentation credit, as well as including the effects of losses in certain jurisdictions where we do not recognize a tax benefit, our effective tax rate for those periods was approximately 36% and did not differ significantly from the federal statutory rate of 35% . Tax expense related to share-based compensation, state income taxes, and the effects of losses in certain jurisdictions where we do not recognize a tax benefit were partially offset by the benefit we received from the domestic production activities deduction and the federal research and experimentation credit in both periods. Unrecognized Tax Benefits and Other Considerations The total amount of our unrecognized tax benefits at July 31, 2015 was $56 million. Net of related deferred tax assets, unrecognized tax benefits were $37 million at that date. If we were to recognize these net benefits, our income tax expense would reflect a favorable net impact of $37 million. There were no material changes to these amounts during the nine months ended April 30, 2016 . We do not believe that it is reasonably possible that there will be a significant increase or decrease in our unrecognized tax benefits over the next 12 months.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Apr. 30, 2016
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Stock Repurchase Programs and Treasury Shares Intuit’s Board of Directors has authorized a series of common stock repurchase programs. Shares of common stock repurchased under these programs become treasury shares. We repurchased 24.1 million shares for $2.2 billion under these programs during the nine months ended April 30, 2016 . We repurchased 13.7 million shares for $1.2 billion under these programs during the nine months ended April 30, 2015 . At April 30, 2016 , we had authorization from our Board of Directors to expend up to an additional $435 million for stock repurchases through May 19, 2019 . Future stock repurchases under the current program are at the discretion of management, and authorization of future stock repurchase programs is subject to the final determination of our Board of Directors. Our treasury shares are repurchased at the market price on the trade date; accordingly, all amounts paid to reacquire these shares have been recorded as treasury stock on our balance sheets. Repurchased shares of our common stock are held as treasury shares until they are reissued or retired. When we reissue treasury stock, if the proceeds from the sale are more than the average price we paid to acquire the shares we record an increase in additional paid-in capital. Conversely, if the proceeds from the sale are less than the average price we paid to acquire the shares, we record a decrease in additional paid-in capital to the extent of increases previously recorded for similar transactions and a decrease in retained earnings for any remaining amount. In the past we have satisfied option exercises and restricted stock unit vesting under our employee equity incentive plans by reissuing treasury shares, and we may do so again in the future. During the second quarter of fiscal 2014 we began issuing new shares of common stock to satisfy option exercises and RSU vesting under our 2005 Equity Incentive Plan. We have not yet determined the ultimate disposition of the shares that we have repurchased in the past, and consequently we continue to hold them as treasury shares. Dividends on Common Stock During the nine months ended April 30, 2016 we declared and paid quarterly cash dividends that totaled $0.90 per share of outstanding common stock or $241 million. In May 2016 our Board of Directors declared a quarterly cash dividend of $0.30 per share of outstanding common stock payable on July 18, 2016 to stockholders of record at the close of business on July 12, 2016 . Future declarations of dividends and the establishment of future record dates and payment dates are subject to the final determination of our Board of Directors. Share-Based Compensation Expense The following table summarizes the total share-based compensation expense that we recorded in operating income from continuing operations for the periods shown. Three Months Ended Nine Months Ended (In millions, except per share amounts) April 30, April 30, April 30, April 30, Cost of revenue $ 2 $ 2 $ 6 $ 4 Selling and marketing 18 17 55 50 Research and development 21 19 63 56 General and administrative 24 21 73 62 Total share-based compensation expense 65 59 197 172 Income tax benefit (20 ) (18 ) (60 ) (54 ) Decrease in net income from continuing operations $ 45 $ 41 $ 137 $ 118 Decrease in net income per share: Basic $ 0.18 $ 0.15 $ 0.52 $ 0.42 Diluted $ 0.17 $ 0.15 $ 0.51 $ 0.41 We capitalized $5 million in share-based compensation related to internal use software projects during the nine months ended April 30, 2016 . The table above also excludes share-based compensation expense for our discontinued operations, which totaled $3 million during the nine months ended April 30, 2016 and $12 million during the nine months ended April 30, 2015 . Because we have not reclassified our statements of cash flows to segregate discontinued operations, these amounts are included in share-based compensation expense on our statements of cash flows for those periods. Share-Based Awards Available for Grant A summary of share-based awards available for grant under our 2005 Equity Incentive Plan for the nine months ended April 30, 2016 was as follows: (Shares in thousands) Shares Available for Grant Balance at July 31, 2015 17,183 Options granted (9 ) Restricted stock units granted (1) (1,219 ) Share-based awards canceled/forfeited/expired (1)(2) 3,544 Balance at April 30, 2016 19,499 ________________________________ (1) RSUs granted from the pool of shares available for grant under our 2005 Equity Incentive Plan reduce the pool by 2.3 shares for each share granted. RSUs forfeited and returned to the pool of shares available for grant increase the pool by 2.3 shares for each share forfeited. (2) Stock options and restricted stock units canceled, expired or forfeited under our 2005 Equity Incentive Plan are returned to the pool of shares available for grant. Stock options and restricted stock units canceled, expired or forfeited under older expired plans are not returned to the pool of shares available for grant. Stock Option Activity and Related Share-Based Compensation Expense A summary of stock option activity for the nine months ended April 30, 2016 was as follows: Options Outstanding (Shares in thousands) Number of Shares Weighted Average Exercise Price Per Share Balance at July 31, 2015 8,713 $ 69.13 Granted 9 94.88 Exercised (1,567 ) 45.72 Canceled or expired (328 ) 75.18 Balance at April 30, 2016 6,827 $ 74.24 Exercisable at April 30, 2016 3,802 $ 58.37 At April 30, 2016 , there was approximately $41 million of unrecognized compensation cost related to non-vested stock options that we expect to recognize as expense in the future. We will adjust unrecognized compensation cost for future changes in estimated forfeitures. We expect to recognize that cost over a weighted average vesting period of 1.9 years. Restricted Stock Unit Activity and Related Share-Based Compensation Expense A summary of restricted stock unit activity for the nine months ended April 30, 2016 was as follows: Restricted Stock Units (Shares in thousands) Number of Shares Weighted Average Grant Date Fair Value Nonvested at July 31, 2015 8,916 $ 76.64 Granted 530 96.36 Vested (910 ) 71.74 Forfeited (1,463 ) 72.77 Nonvested at April 30, 2016 7,073 $ 79.55 At April 30, 2016 , there was approximately $290 million of unrecognized compensation cost related to non-vested RSUs that we expect to recognize as expense in the future. We will adjust unrecognized compensation cost for future changes in estimated forfeitures. We expect to recognize that cost over a weighted average vesting period of 1.8 years.

Litigation

Litigation	9 Months Ended
	Apr. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Litigation	Litigation In fiscal 2015 Intuit was contacted by regulatory authorities, including Congress, the Federal Trade Commission, the SEC, the Department of Justice and certain state Attorneys General, which are conducting inquiries in connection with the increase during the 2015 tax season in attempts by criminals using stolen identity information to file fraudulent tax returns and claim refunds at the state and federal levels. Intuit is cooperating with all such government inquiries, including formal requests for information. In addition, we are the subject of certain actions, including a consolidated putative class action lawsuit by individuals who claim to have suffered damages in connection with the foregoing events. We believe that the allegations contained within these lawsuits are without merit, and we intend to vigorously defend against them. Intuit is subject to certain routine legal proceedings, including class action lawsuits like those described above, as well as demands, claims, government inquiries and threatened litigation, that arise in the normal course of our business, including assertions that we may be infringing patents or other intellectual property rights of others. We currently believe that, in addition to any amounts accrued, the amount of potential losses, if any, for any pending claims of any type (either alone or combined) will not have a material impact on our consolidated financial statements. The ultimate outcome of any litigation is uncertain and, regardless of outcome, litigation can have an adverse impact on Intuit because of defense costs, negative publicity, diversion of management resources and other factors. Our failure to obtain necessary license or other rights, or litigation arising out of intellectual property claims could adversely affect our business.

Segment Information

Segment Information	9 Months Ended
	Apr. 30, 2016
Segment Reporting [Abstract]
Segment Information	Segment Information We have defined three reportable segments, described below, based on factors such as how we manage our operations and how our chief operating decision maker views results. We define the chief operating decision maker as our Chief Executive Officer and our Chief Financial Officer. Our chief operating decision maker organizes and manages our business primarily on the basis of product and service offerings. Small Business. Our Small Business segment includes the following offerings, which target small businesses and the accounting professionals who serve them. • QuickBooks financial and business management online services and desktop software; QuickBooks technical support; and financial supplies. • QuickBooks Accountant, QuickBooks Accountant Plus, and QuickBooks Online Accountant as well as the QuickBooks ProAdvisor Program, all of which are intended for the accounting professionals who serve small businesses. • Small business payroll products and services, including online payroll offerings such as QuickBooks Online Payroll and Intuit Online Payroll; desktop payroll offerings such as QuickBooks Basic Payroll and QuickBooks Enhanced Payroll; and full service payroll offerings such as QuickBooks Assisted Payroll and Intuit Full Service Payroll. • Payment processing services for small businesses, including merchant services such as credit and debit card processing; Web-based transaction processing services for online merchants; secure online payments for small businesses and their customers through the Intuit Commerce Network; GoPayment mobile payment processing services; and QuickBooks Point of Sale solutions. Consumer Tax. Our Consumer Tax segment targets consumers and includes TurboTax income tax preparation products and services and electronic tax filing services. Professional Tax. Our Professional Tax segment targets professional accountants in the U.S. and Canada and includes Lacerte, ProSeries, ProFile, and Intuit Tax Online professional tax preparation products and services, electronic tax filing services, bank product transmission services, and training services. All of our segments operate primarily in the United States and sell primarily to customers in the United States. International total net revenue was less than 5% of consolidated total net revenue for all periods presented. We include expenses such as corporate selling and marketing, product development, and general and administrative expenses and share-based compensation expenses, which are not allocated to specific segments, in unallocated corporate items. Unallocated corporate items also include amortization of acquired technology, amortization of other acquired intangible assets, and goodwill and intangible asset impairment charges. The accounting policies of our reportable segments are the same as those described in the summary of significant accounting policies in Note 1 to the financial statements in Item 8 of our Annual Report on Form 10-K for the fiscal year ended July 31, 2015 and in Note 1, "Description of Business and Summary of Significant Accounting Policies – Significant Accounting Policies" in this Quarterly Report on Form 10-Q. Except for goodwill and purchased intangible assets, we do not generally track assets by reportable segment and, consequently, we do not disclose total assets by reportable segment. The following table shows our financial results by reportable segment for the periods indicated. Results for all periods presented have been adjusted to exclude results for our Demandforce, QuickBase, and Quicken businesses, which we classified as discontinued operations in the fourth quarter of fiscal 2015. See Note 4, “Discontinued Operations,” for more information. Three Months Ended Nine Months Ended (In millions) April 30, April 30, April 30, April 30, Net revenue: Small Business segment $ 580 $ 516 $ 1,690 $ 1,560 Consumer Tax segment 1,598 1,489 1,930 1,759 Professional Tax segment 126 130 320 177 Total net revenue $ 2,304 $ 2,135 $ 3,940 $ 3,496 Operating income from continuing operations: Small Business segment $ 217 $ 166 $ 627 $ 524 Consumer Tax segment 1,293 1,188 1,327 1,178 Professional Tax segment 86 83 199 43 Total segment operating income 1,596 1,437 2,153 1,745 Unallocated corporate items: Share-based compensation expense (65 ) (59 ) (197 ) (172 ) Other common expenses (238 ) (187 ) (635 ) (560 ) Amortization of acquired technology (5 ) (8 ) (17 ) (22 ) Amortization of other acquired intangible assets (3 ) (3 ) (6 ) (9 ) Goodwill impairment charge — (114 ) — (114 ) Total unallocated corporate items (311 ) (371 ) (855 ) (877 ) Total operating income from continuing operations $ 1,285 $ 1,066 $ 1,298 $ 868

Description of Business and S18

Description of Business and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Apr. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation These condensed consolidated financial statements include the financial statements of Intuit and its wholly owned subsidiaries. We have eliminated all significant intercompany balances and transactions in consolidation. We have included all adjustments, consisting only of normal recurring items, which we considered necessary for a fair presentation of our financial results for the interim periods presented. We have reclassified certain amounts previously reported in our financial statements to conform to the current presentation, including amounts related to discontinued operations and reportable segments. See Note 4, “Discontinued Operations,” and Note 10, “ Segment Information ,” for more information. As discussed in Note 4, we sold our Demandforce, QuickBase, and Quicken businesses in the third quarter of fiscal 2016. We have reclassified our statements of operations for all periods presented to reflect these businesses as discontinued operations. We have also segregated the net assets of these businesses from continuing operations on our balance sheet at July 31, 2015. Because the cash flows of these businesses were not material for any period presented, we have not segregated them on our statements of cash flows. Unless noted otherwise, discussions in these notes pertain to our continuing operations. These unaudited condensed consolidated financial statements and accompanying notes should be read together with the audited consolidated financial statements in Item 8 of our Annual Report on Form 10-K for the fiscal year ended July 31, 2015 . Results for the nine months ended April 30, 2016 do not necessarily indicate the results we expect for the fiscal year ending July 31, 2016 or any other future period.
Seasonality	Seasonality Our Consumer Tax offerings have significant seasonal patterns and revenue from those income tax preparation products and services is heavily concentrated in our third fiscal quarter ending April 30.
Use of Estimates	Use of Estimates In preparing our consolidated financial statements in accordance with U.S. generally accepted accounting principles (GAAP), we make certain estimates and assumptions that affect the amounts reported in our financial statements and the disclosures made in the accompanying notes. For example, we use estimates in determining the appropriate levels of reserves for product returns and rebates, the collectibility of accounts receivable, the appropriate levels of various accruals including accruals for litigation contingencies, the amount of our worldwide tax provision, and the realizability of deferred tax assets. We also use estimates in determining the remaining economic lives and fair values of acquired intangible assets, property and equipment, and other long-lived assets. In addition, we use assumptions to estimate the fair value of reporting units and share-based compensation. Despite our intention to establish accurate estimates and use reasonable assumptions, actual results may differ from our estimates.
Computation of Net Income (Loss) Per Share	Computation of Net Income (Loss) Per Share We compute basic net income or loss per share using the weighted average number of common shares outstanding during the period. We compute diluted net income per share using the weighted average number of common shares and dilutive potential common shares outstanding during the period. Dilutive potential common shares consist of the shares issuable upon the exercise of stock options and upon the vesting of restricted stock units (RSUs) under the treasury stock method. We include stock options with combined exercise prices, unrecognized compensation expense and tax benefits that are less than the average market price for our common stock, and RSUs with combined unrecognized compensation expense and tax benefits that are less than the average market price for our common stock, in the calculation of diluted net income per share. We exclude stock options with combined exercise prices, unrecognized compensation expense and tax benefits that are greater than the average market price for our common stock, and RSUs with combined unrecognized compensation expense and tax benefits that are greater than the average market price for our common stock, from the calculation of diluted net income per share because their effect is anti-dilutive. Under the treasury stock method, the amount that must be paid to exercise stock options, the amount of compensation expense for future service that we have not yet recognized for stock options and RSUs, and the amount of tax benefits that will be recorded in additional paid-in capital when the awards become deductible are assumed to be used to repurchase shares. All of the RSUs we grant have dividend rights. Dividend rights are accumulated and paid when the underlying RSUs vest. Since the dividend rights are subject to the same vesting requirements as the underlying equity awards they are considered a contingent transfer of value. Consequently, the RSUs are not considered participating securities and we do not present them separately in earnings per share. In loss periods, basic net loss per share and diluted net loss per share are the same since the effect of potential common shares is anti-dilutive and therefore excluded.
Concentration of Credit Risk and Significant Customers	Concentration of Credit Risk and Significant Customers No customer accounted for 10% or more of total net revenue in the three or nine months ended April 30, 2016 or April 30, 2015 . No customer accounted for 10% or more of gross accounts receivable at April 30, 2016 or July 31, 2015 .
Recent Accounting Pronouncements	ASU 2016-09 , “Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” In March 2016 the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-09, “ Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. ” ASU 2016-09 is designed to simplify several aspects of accounting for share-based payment award transactions, which include the income tax consequences, classification of awards as either equity or liabilities, classification on the statement of cash flows and forfeiture rate calculations. ASU 2016-09 is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years, which means that it will be effective for us in the first quarter of our fiscal year beginning August 1, 2017. Early adoption is permitted. We are currently evaluating the impact of our pending adoption of ASU 2016-09 on our consolidated financial statements. ASU 2016-02 , “Leases (Topic 842)” In February 2016 the FASB issued ASU 2016-02, “ Leases (Topic 842). ” ASU 2016-02 amends a number of aspects of lease accounting, including requiring lessees to recognize operating leases with a term greater than one year on their balance sheet as a right-of-use asset and corresponding lease liability, measured at the present value of the lease payments. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, which means that it will be effective for us in the first quarter of our fiscal year beginning August 1, 2019. Early adoption is permitted. This ASU is required to be adopted using a modified retrospective approach. We are currently evaluating the impact of our pending adoption of ASU 2016-02 on our consolidated financial statements. ASU 2015-16 , “Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments” In September 2015 the FASB issued ASU 2015-16, “ Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. ” ASU 2015-16 eliminates the requirement for an acquirer to retrospectively adjust provisional amounts recorded in a business combination to reflect new information about the facts and circumstances that existed as of the acquisition date and that, if known, would have affected measurement or recognition of amounts initially recognized. As an alternative, the amendment requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments require that the acquirer record, in the financial statements of the period in which adjustments to provisional amounts are determined, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. ASU 2015-16 is effective prospectively for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years, which means that it will be effective for us in the first quarter of our fiscal year beginning August 1, 2016. Early adoption is permitted. We are currently evaluating the impact of our pending adoption of ASU 2015-16 on our consolidated financial statements. ASU 2014-09 , “Revenue from Contracts with Customers (Topic 606)” In May 2014 the FASB issued ASU 2014-09, “ Revenue from Contracts with Customers (Topic 606) ,” and in August 2015 the FASB issued ASU 2015-14, “ Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date ,” which defers the effective date of ASU 2014-09 by one year. ASU 2014-09 supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, it is possible that more judgment and estimates may be required within the revenue recognition process than is required under present U.S. GAAP. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price, and allocating the transaction price to each separate performance obligation. The new standard also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. ASU 2014-09 is effective for reporting periods beginning after December 15, 2017, which means that it will be effective for us in the first quarter of our fiscal year beginning August 1, 2018. Early adoption of one year prior to the required effective date is permitted. ASU 2014-09 allows adoption using either of two methods: (i) retrospective to each prior reporting period presented, with the option to elect certain practical expedients; or (ii) retrospective with the cumulative effect of initially applying ASU 2014-09 recognized at the date of initial application and providing certain additional disclosures. We are currently evaluating the impact of our pending adoption of ASU 2014-09 on our consolidated financial statements. We do not expect that any other recently issued accounting pronouncements will have a significant effect on our financial statements.
Fair Value Measurements	Fair Value Measurements The authoritative guidance defines fair value as the price that would be received from the sale of an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. When determining fair value, we consider the principal or most advantageous market for an asset or liability and assumptions that market participants would use when pricing the asset or liability. In addition, we consider and use all valuation methods that are appropriate in estimating the fair value of an asset or liability. The authoritative guidance establishes a fair value hierarchy that is based on the extent and level of judgment used to estimate the fair value of assets and liabilities. In general, the authoritative guidance requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. An asset or liability’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the measurement of its fair value. The three levels of input defined by the authoritative guidance are as follows: • Level 1 uses unadjusted quoted prices that are available in active markets for identical assets or liabilities. • Level 2 uses inputs other than quoted prices included in Level 1 that are either directly or indirectly observable through correlation with market data. These include quoted prices in active markets for similar assets or liabilities; quoted prices for identical or similar assets or liabilities in markets that are not active; and inputs to valuation models or other pricing methodologies that do not require significant judgment because the inputs used in the model, such as interest rates and volatility, can be corroborated by readily observable market data for substantially the full term of the assets or liabilities. • Level 3 uses one or more unobservable inputs that are supported by little or no market activity and that are significant to the determination of fair value. Level 3 assets and liabilities include those whose fair values are determined using pricing models, discounted cash flow methodologies or similar valuation techniques and significant management judgment or estimation.

Description of Business and S19

Description of Business and Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Apr. 30, 2016
Accounting Policies [Abstract]
Composition of shares used in the computation of basic and diluted net income per share	The following table presents the composition of shares used in the computation of basic and diluted net income (loss) per share for the periods indicated. Three Months Ended Nine Months Ended (In millions, except per share amounts) April 30, April 30, April 30, April 30, Numerator: Net income from continuing operations $ 848 $ 656 $ 846 $ 515 Net income (loss) from discontinued operations 178 (155 ) 173 (164 ) Net income $ 1,026 $ 501 $ 1,019 $ 351 Denominator: Shares used in basic per share amounts: Weighted average common shares outstanding 257 277 264 282 Shares used in diluted per share amounts: Weighted average common shares outstanding 257 277 264 282 Dilutive common equivalent shares from stock options and restricted stock awards 3 5 3 6 Dilutive weighted average common shares outstanding 260 282 267 288 Basic and diluted net income per share: Basic net income per share from continuing operations $ 3.30 $ 2.37 $ 3.21 $ 1.82 Basic net income (loss) per share from discontinued operations 0.70 (0.56 ) 0.65 (0.58 ) Basic net income per share $ 4.00 $ 1.81 $ 3.86 $ 1.24 Diluted net income per share from continuing operations $ 3.26 $ 2.33 $ 3.17 $ 1.79 Diluted net income (loss) per share from discontinued operations 0.68 (0.55 ) 0.64 (0.57 ) Diluted net income per share $ 3.94 $ 1.78 $ 3.81 $ 1.22 Shares excluded from computation of diluted net income per share: Weighted average stock options and restricted stock units excluded from computation due to anti-dilutive effect 2 — 2 2

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Apr. 30, 2016
Fair Value Disclosures [Abstract]
Financial assets and liabilities measured at fair value on recurring basis	The following table summarizes financial assets and financial liabilities that we measured at fair value on a recurring basis at the dates indicated, classified in accordance with the fair value hierarchy described above. April 30, 2016 July 31, 2015 (In millions) Level 1 Level 2 Level 3 Total Fair Value Level 1 Level 2 Level 3 Total Fair Value Assets: Cash equivalents, primarily money market funds $ 729 $ — $ — $ 729 $ 695 $ — $ — $ 695 Available-for-sale debt securities: Municipal bonds — 175 — 175 — 506 — 506 Corporate notes — 241 — 241 — 546 — 546 U.S. agency securities — 83 — 83 — 12 — 12 Municipal auction rate securities — — 15 15 — — 15 15 Total available-for-sale securities — 499 15 514 — 1,064 15 1,079 Total assets measured at fair value on a recurring basis $ 729 $ 499 $ 15 $ 1,243 $ 695 $ 1,064 $ 15 $ 1,774 Liabilities: Senior notes (1) $ — $ 520 $ — $ 520 $ — $ 531 $ — $ 531 ______________________________ (1) Carrying value on our balance sheets at April 30, 2016 was $500 million and at July 31, 2015 was $500 million. See Note 5, “Current Liabilities – Short-Term Debt,” for more information.
Cash equivalents and available-for-sale debt and equity securities by balance sheet classification and level in the fair value hierarchy	The following table summarizes our cash equivalents and available-for-sale debt securities by balance sheet classification and level in the fair value hierarchy at the dates indicated. April 30, 2016 July 31, 2015 (In millions) Level 1 Level 2 Level 3 Total Fair Value Level 1 Level 2 Level 3 Total Fair Value Cash equivalents: In cash and cash equivalents $ 532 $ — $ — $ 532 $ 533 $ — $ — $ 533 In funds held for customers 197 — — 197 162 — — 162 Total cash equivalents $ 729 $ — $ — $ 729 $ 695 $ — $ — $ 695 Available-for-sale securities: In investments $ — $ 324 $ — $ 324 $ — $ 889 $ — $ 889 In funds held for customers — 175 — 175 — 175 — 175 In long-term investments — — 15 15 — — 15 15 Total available-for-sale securities $ — $ 499 $ 15 $ 514 $ — $ 1,064 $ 15 $ 1,079

Cash and Cash Equivalents, In21

Cash and Cash Equivalents, Investments and Funds Held for Customers (Tables)	9 Months Ended
	Apr. 30, 2016
Cash and Cash Equivalents, Investments and Funds Held for Customers [Abstract]
Cash and cash equivalents, investments and funds held for customers by balance sheet classification	The following table summarizes our cash and cash equivalents, investments, and funds held for customers by balance sheet classification at the dates indicated. April 30, 2016 July 31, 2015 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value Classification on balance sheets: Cash and cash equivalents $ 1,289 $ 1,289 $ 808 $ 808 Investments 324 324 890 889 Funds held for customers 372 372 337 337 Long-term investments 28 28 27 27 Total cash and cash equivalents, investments, and funds held for customers $ 2,013 $ 2,013 $ 2,062 $ 2,061
Cash and cash equivalents, investments and funds held for customers by investment category	The following table summarizes our cash and cash equivalents, investments, and funds held for customers by investment category at the dates indicated. April 30, 2016 July 31, 2015 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value Type of issue: Total cash and cash equivalents $ 1,486 $ 1,486 $ 970 $ 970 Available-for-sale debt securities: Municipal bonds 175 175 507 506 Corporate notes 241 241 546 546 U.S. agency securities 83 83 12 12 Municipal auction rate securities 15 15 15 15 Total available-for-sale debt securities 514 514 1,080 1,079 Other long-term investments 13 13 12 12 Total cash and cash equivalents, investments, and funds held for customers $ 2,013 $ 2,013 $ 2,062 $ 2,061
Available-for-sale debt securities classified by the stated maturity date of the security	The following table summarizes our available-for-sale debt securities classified by the stated maturity date of the security at the dates indicated. April 30, 2016 July 31, 2015 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value Due within one year $ 189 $ 189 $ 434 $ 435 Due within two years 125 125 443 442 Due within three years 75 75 156 156 Due after three years 125 125 47 46 Total available-for-sale debt securities $ 514 $ 514 $ 1,080 $ 1,079

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Apr. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Disposal groups, including discontinued operations	Net revenue from discontinued operations, income (loss) from discontinued operations before income taxes, and the components of net income (loss) from discontinued operations were as follows for the periods indicated: Three Months Ended Nine Months Ended (In millions) April 30, April 30, April 30, April 30, Net revenue from discontinued operations: Demandforce $ — $ 28 $ 49 $ 89 QuickBase 14 18 54 52 Quicken 8 13 34 38 Total net revenue from discontinued operations $ 22 $ 59 $ 137 $ 179 Income (loss) from discontinued operations before income taxes: Demandforce $ — $ (18 ) $ (10 ) $ (46 ) QuickBase 4 3 10 10 Quicken (1 ) (146 ) (2 ) (139 ) Total income (loss) from discontinued operations before income taxes $ 3 $ (161 ) $ (2 ) $ (175 ) Net income (loss) from discontinued operations: Net loss from Demandforce operations $ — $ (9 ) $ (6 ) $ (28 ) Net income from QuickBase operations 2 1 6 6 Net loss from Quicken operations — (147 ) — (142 ) Net gain on disposal of Demandforce, QuickBase, and Quicken 176 — 173 — Total net income (loss) from discontinued operations $ 178 $ (155 ) $ 173 $ (164 )

Current Liabilities (Tables)

Current Liabilities (Tables)	9 Months Ended
	Apr. 30, 2016
Other Liabilities Disclosure [Abstract]
Other current liabilities	Other current liabilities were as follows at the dates indicated: (In millions) April 30, July 31, Reserve for product returns $ 32 $ 12 Reserve for rebates 26 12 Current portion of license fee payable 10 10 Current portion of deferred rent 7 8 Interest payable 4 10 Executive deferred compensation plan liabilities 67 63 Other 53 28 Total other current liabilities $ 199 $ 143

Long-Term Obligations and Com24

Long-Term Obligations and Commitments (Tables)	9 Months Ended
	Apr. 30, 2016
Long-Term Obligations [Abstract]
Other long-term obligations	Other long-term obligations were as follows at the dates indicated: (In millions) April 30, July 31, Total deferred rent $ 57 $ 49 Total license fee payable 36 34 Long-term income tax liabilities 51 45 Long-term deferred income tax liabilities 5 50 Other 22 13 Total long-term obligations 171 191 Less current portion (included in other current liabilities) (18 ) (19 ) Long-term obligations due after one year $ 153 $ 172

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Apr. 30, 2016
Equity [Abstract]
Total share-based compensation expense	The following table summarizes the total share-based compensation expense that we recorded in operating income from continuing operations for the periods shown. Three Months Ended Nine Months Ended (In millions, except per share amounts) April 30, April 30, April 30, April 30, Cost of revenue $ 2 $ 2 $ 6 $ 4 Selling and marketing 18 17 55 50 Research and development 21 19 63 56 General and administrative 24 21 73 62 Total share-based compensation expense 65 59 197 172 Income tax benefit (20 ) (18 ) (60 ) (54 ) Decrease in net income from continuing operations $ 45 $ 41 $ 137 $ 118 Decrease in net income per share: Basic $ 0.18 $ 0.15 $ 0.52 $ 0.42 Diluted $ 0.17 $ 0.15 $ 0.51 $ 0.41
Summary of share-based awards available for grant	A summary of share-based awards available for grant under our 2005 Equity Incentive Plan for the nine months ended April 30, 2016 was as follows: (Shares in thousands) Shares Available for Grant Balance at July 31, 2015 17,183 Options granted (9 ) Restricted stock units granted (1) (1,219 ) Share-based awards canceled/forfeited/expired (1)(2) 3,544 Balance at April 30, 2016 19,499 ________________________________ (1) RSUs granted from the pool of shares available for grant under our 2005 Equity Incentive Plan reduce the pool by 2.3 shares for each share granted. RSUs forfeited and returned to the pool of shares available for grant increase the pool by 2.3 shares for each share forfeited. (2) Stock options and restricted stock units canceled, expired or forfeited under our 2005 Equity Incentive Plan are returned to the pool of shares available for grant. Stock options and restricted stock units canceled, expired or forfeited under older expired plans are not returned to the pool of shares available for grant.
Summary of stock option activity	A summary of stock option activity for the nine months ended April 30, 2016 was as follows: Options Outstanding (Shares in thousands) Number of Shares Weighted Average Exercise Price Per Share Balance at July 31, 2015 8,713 $ 69.13 Granted 9 94.88 Exercised (1,567 ) 45.72 Canceled or expired (328 ) 75.18 Balance at April 30, 2016 6,827 $ 74.24 Exercisable at April 30, 2016 3,802 $ 58.37
Summary of restricted stock unit activity	A summary of restricted stock unit activity for the nine months ended April 30, 2016 was as follows: Restricted Stock Units (Shares in thousands) Number of Shares Weighted Average Grant Date Fair Value Nonvested at July 31, 2015 8,916 $ 76.64 Granted 530 96.36 Vested (910 ) 71.74 Forfeited (1,463 ) 72.77 Nonvested at April 30, 2016 7,073 $ 79.55

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Apr. 30, 2016
Segment Reporting [Abstract]
Financial results by reportable segment	The following table shows our financial results by reportable segment for the periods indicated. Results for all periods presented have been adjusted to exclude results for our Demandforce, QuickBase, and Quicken businesses, which we classified as discontinued operations in the fourth quarter of fiscal 2015. See Note 4, “Discontinued Operations,” for more information. Three Months Ended Nine Months Ended (In millions) April 30, April 30, April 30, April 30, Net revenue: Small Business segment $ 580 $ 516 $ 1,690 $ 1,560 Consumer Tax segment 1,598 1,489 1,930 1,759 Professional Tax segment 126 130 320 177 Total net revenue $ 2,304 $ 2,135 $ 3,940 $ 3,496 Operating income from continuing operations: Small Business segment $ 217 $ 166 $ 627 $ 524 Consumer Tax segment 1,293 1,188 1,327 1,178 Professional Tax segment 86 83 199 43 Total segment operating income 1,596 1,437 2,153 1,745 Unallocated corporate items: Share-based compensation expense (65 ) (59 ) (197 ) (172 ) Other common expenses (238 ) (187 ) (635 ) (560 ) Amortization of acquired technology (5 ) (8 ) (17 ) (22 ) Amortization of other acquired intangible assets (3 ) (3 ) (6 ) (9 ) Goodwill impairment charge — (114 ) — (114 ) Total unallocated corporate items (311 ) (371 ) (855 ) (877 ) Total operating income from continuing operations $ 1,285 $ 1,066 $ 1,298 $ 868

Description of Business and S27

Description of Business and Summary of Significant Accounting Policies (Details) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Apr. 30, 2016USD ($)customer$ / sharesshares	Apr. 30, 2015USD ($)customer$ / sharesshares	Apr. 30, 2016USD ($)customer$ / sharesshares	Apr. 30, 2015USD ($)customer$ / sharesshares	Jul. 31, 2015customer
Numerator:
Net income from continuing operations | $	$ 848	$ 656	$ 846	$ 515
Net income (loss) from discontinued operations | $	178	(155)	173	(164)
Net income | $	$ 1,026	$ 501	$ 1,019	$ 351
Shares used in basic per share amounts:
Weighted average common shares outstanding (in shares) | shares	257	277	264	282
Shares used in diluted per share amounts:
Weighted average common shares outstanding (in shares) | shares	257	277	264	282
Dilutive common equivalent shares from stock options and restricted stock awards (in shares) | shares	3	5	3	6
Dilutive weighted average common shares outstanding (in shares) | shares	260	282	267	288
Basic and diluted net income per share:
Basic net income per share from continuing operations (in USD per share)	$ 3.30	$ 2.37	$ 3.21	$ 1.82
Basic net loss per share from discontinued operations (in USD per share)	0.70	(0.56)	0.65	(0.58)
Basic net income per share (in USD per share)	4	1.81	3.86	1.24
Diluted net income per share from continuing operations (in USD per share)	3.26	2.33	3.17	1.79
Diluted net loss per share from discontinued operations (in USD per share)	0.68	(0.55)	0.64	(0.57)
Diluted net income per share (in USD per share)	$ 3.94	$ 1.78	$ 3.81	$ 1.22
Shares excluded from computation of diluted net income per share:
Weighted average stock options and restricted stock units excluded from computation due to anti-dilutive effect | shares	2	0	2	2
Customer concentration risk | Sales revenue, net
Concentration Risk [Line Items]
Concentration risk, number of customers | customer	0	0	0	0
Customer concentration risk | Accounts receivable
Concentration Risk [Line Items]
Concentration risk, number of customers | customer			0		0

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions		Apr. 30, 2016	Jul. 31, 2015
Liabilities:
Long-term debt		$ 500	$ 500
Short-term debt		500	0
Fair value, measurements, recurring | Estimate of fair value measurement
Assets:
Total cash equivalents		729	695
Available-for-sale debt securities:
Total assets measured at fair value on a recurring basis		1,243	1,774
Liabilities:
Senior notes	[1]	520	531
Fair value, measurements, recurring | Estimate of fair value measurement | Municipal bonds
Available-for-sale debt securities:
Total available-for-sale securities		175	506
Fair value, measurements, recurring | Estimate of fair value measurement | Corporate notes
Available-for-sale debt securities:
Total available-for-sale securities		241	546
Fair value, measurements, recurring | Estimate of fair value measurement | U.S. agency securities
Available-for-sale debt securities:
Total available-for-sale securities		83	12
Fair value, measurements, recurring | Estimate of fair value measurement | Municipal auction rate securities
Available-for-sale debt securities:
Total available-for-sale securities		15	15
Fair value, measurements, recurring | Estimate of fair value measurement | Available-for-sale corporate equity securities
Available-for-sale debt securities:
Total available-for-sale securities		514	1,079
Fair value, measurements, recurring | Level 1
Assets:
Total cash equivalents		729	695
Available-for-sale debt securities:
Total assets measured at fair value on a recurring basis		729	695
Liabilities:
Senior notes	[1]	0	0
Fair value, measurements, recurring | Level 1 | Municipal bonds
Available-for-sale debt securities:
Total available-for-sale securities		0	0
Fair value, measurements, recurring | Level 1 | Corporate notes
Available-for-sale debt securities:
Total available-for-sale securities		0	0
Fair value, measurements, recurring | Level 1 | U.S. agency securities
Available-for-sale debt securities:
Total available-for-sale securities		0	0
Fair value, measurements, recurring | Level 1 | Municipal auction rate securities
Available-for-sale debt securities:
Total available-for-sale securities		0	0
Fair value, measurements, recurring | Level 1 | Available-for-sale corporate equity securities
Available-for-sale debt securities:
Total available-for-sale securities		0	0
Fair value, measurements, recurring | Level 2
Assets:
Total cash equivalents		0	0
Available-for-sale debt securities:
Total assets measured at fair value on a recurring basis		499	1,064
Liabilities:
Senior notes	[1]	520	531
Fair value, measurements, recurring | Level 2 | Municipal bonds
Available-for-sale debt securities:
Total available-for-sale securities		175	506
Fair value, measurements, recurring | Level 2 | Corporate notes
Available-for-sale debt securities:
Total available-for-sale securities		241	546
Fair value, measurements, recurring | Level 2 | U.S. agency securities
Available-for-sale debt securities:
Total available-for-sale securities		83	12
Fair value, measurements, recurring | Level 2 | Municipal auction rate securities
Available-for-sale debt securities:
Total available-for-sale securities		0	0
Fair value, measurements, recurring | Level 2 | Available-for-sale corporate equity securities
Available-for-sale debt securities:
Total available-for-sale securities		499	1,064
Fair value, measurements, recurring | Level 3
Assets:
Total cash equivalents		0	0
Available-for-sale debt securities:
Total assets measured at fair value on a recurring basis		15	15
Liabilities:
Senior notes	[1]	0	0
Fair value, measurements, recurring | Level 3 | Municipal bonds
Available-for-sale debt securities:
Total available-for-sale securities		0	0
Fair value, measurements, recurring | Level 3 | Corporate notes
Available-for-sale debt securities:
Total available-for-sale securities		0	0
Fair value, measurements, recurring | Level 3 | U.S. agency securities
Available-for-sale debt securities:
Total available-for-sale securities		0	0
Fair value, measurements, recurring | Level 3 | Municipal auction rate securities
Available-for-sale debt securities:
Total available-for-sale securities		15	15
Fair value, measurements, recurring | Level 3 | Available-for-sale corporate equity securities
Available-for-sale debt securities:
Total available-for-sale securities		$ 15	$ 15
[1]	Carrying value on our balance sheets at April 30, 2016 was $500 million and at July 31, 2015 was $500 million. See Note 5, “Current Liabilities – Short-Term Debt,” for more information.

Fair Value Measurements (Deta29

Fair Value Measurements (Details 1) - USD ($) $ in Millions	Apr. 30, 2016	Jul. 31, 2015
Cash and cash equivalents
Cash equivalents:
Total cash equivalents	$ 1,289	$ 808
Fair value, measurements, recurring | Estimate of fair value measurement
Cash equivalents:
Total cash equivalents	729	695
Available-for-sale securities:
Total available-for-sale securities	514	1,079
Fair value, measurements, recurring | Estimate of fair value measurement | Cash and cash equivalents
Cash equivalents:
Total cash equivalents	532	533
Fair value, measurements, recurring | Estimate of fair value measurement | Cash equivalents in funds held for customers
Cash equivalents:
Total cash equivalents	197	162
Fair value, measurements, recurring | Estimate of fair value measurement | Available for sale debt securities in investments
Available-for-sale securities:
Total available-for-sale securities	324	889
Fair value, measurements, recurring | Estimate of fair value measurement | Available for sale debt securities in funds held for customers
Available-for-sale securities:
Total available-for-sale securities	175	175
Fair value, measurements, recurring | Estimate of fair value measurement | Available for sale debt securities in long term investments
Available-for-sale securities:
Total available-for-sale securities	15	15
Fair value, measurements, recurring | Level 1
Cash equivalents:
Total cash equivalents	729	695
Available-for-sale securities:
Total available-for-sale securities	0	0
Fair value, measurements, recurring | Level 1 | Cash and cash equivalents
Cash equivalents:
Total cash equivalents	532	533
Fair value, measurements, recurring | Level 1 | Cash equivalents in funds held for customers
Cash equivalents:
Total cash equivalents	197	162
Fair value, measurements, recurring | Level 1 | Available for sale debt securities in investments
Available-for-sale securities:
Total available-for-sale securities	0	0
Fair value, measurements, recurring | Level 1 | Available for sale debt securities in funds held for customers
Available-for-sale securities:
Total available-for-sale securities	0	0
Fair value, measurements, recurring | Level 1 | Available for sale debt securities in long term investments
Available-for-sale securities:
Total available-for-sale securities	0	0
Fair value, measurements, recurring | Level 2
Cash equivalents:
Total cash equivalents	0	0
Available-for-sale securities:
Total available-for-sale securities	499	1,064
Fair value, measurements, recurring | Level 2 | Cash and cash equivalents
Cash equivalents:
Total cash equivalents	0	0
Fair value, measurements, recurring | Level 2 | Cash equivalents in funds held for customers
Cash equivalents:
Total cash equivalents	0	0
Fair value, measurements, recurring | Level 2 | Available for sale debt securities in investments
Available-for-sale securities:
Total available-for-sale securities	324	889
Fair value, measurements, recurring | Level 2 | Available for sale debt securities in funds held for customers
Available-for-sale securities:
Total available-for-sale securities	175	175
Fair value, measurements, recurring | Level 2 | Available for sale debt securities in long term investments
Available-for-sale securities:
Total available-for-sale securities	0	0
Fair value, measurements, recurring | Level 3
Cash equivalents:
Total cash equivalents	0	0
Available-for-sale securities:
Total available-for-sale securities	15	15
Fair value, measurements, recurring | Level 3 | Cash and cash equivalents
Cash equivalents:
Total cash equivalents	0	0
Fair value, measurements, recurring | Level 3 | Cash equivalents in funds held for customers
Cash equivalents:
Total cash equivalents	0	0
Fair value, measurements, recurring | Level 3 | Available for sale debt securities in investments
Available-for-sale securities:
Total available-for-sale securities	0	0
Fair value, measurements, recurring | Level 3 | Available for sale debt securities in funds held for customers
Available-for-sale securities:
Total available-for-sale securities	0	0
Fair value, measurements, recurring | Level 3 | Available for sale debt securities in long term investments
Available-for-sale securities:
Total available-for-sale securities	$ 15	$ 15

Cash and Cash Equivalents, In30

Cash and Cash Equivalents, Investments and Funds Held for Customers - Classification on Balance Sheets (Details) - USD ($) $ in Millions	Apr. 30, 2016	Jul. 31, 2015	Apr. 30, 2015	Jul. 31, 2014
Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents, amortized cost	$ 1,289	$ 808	$ 1,193	$ 849
Total cash and cash equivalents, investments, and funds held for customers, Amortized Cost	2,013	2,062
Total cash and cash equivalents, investments, and funds held for customers, Fair Value	2,013	2,061
Cash and cash equivalents
Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents, amortized cost	1,289	808
Cash and cash equivalents, fair value disclosure	1,289	808
Investments
Cash and Cash Equivalents Items [Line Items]
Investments and funds, amortized cost	324	890
Investments and funds, fair value	324	889
Funds held for customers
Cash and Cash Equivalents Items [Line Items]
Investments and funds, amortized cost	372	337
Investments and funds, fair value	372	337
Long-term investments
Cash and Cash Equivalents Items [Line Items]
Investments and funds, amortized cost	28	27
Investments and funds, fair value	$ 28	$ 27

Cash and Cash Equivalents, In31

Cash and Cash Equivalents, Investments and Funds Held for Customers - Type of issue (Details) - USD ($) $ in Millions	Apr. 30, 2016	Jul. 31, 2015	Apr. 30, 2015	Jul. 31, 2014
Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents, amortized cost	$ 1,289	$ 808	$ 1,193	$ 849
Available-for-sale securities:
Total cash and cash equivalents, investments, and funds held for customers, Amortized Cost	2,013	2,062
Total cash and cash equivalents, investments, and funds held for customers, Fair Value	2,013	2,061
Total cash and cash equivalents
Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents, amortized cost	1,486	970
Cash and cash equivalents, fair value disclosure	1,486	970
Municipal bonds
Available-for-sale securities:
Investments and funds, amortized cost	175	507
Investments and funds, fair value	175	506
Corporate notes
Available-for-sale securities:
Investments and funds, amortized cost	241	546
Investments and funds, fair value	241	546
U.S. agency securities
Available-for-sale securities:
Investments and funds, amortized cost	83	12
Investments and funds, fair value	83	12
Municipal auction rate securities
Available-for-sale securities:
Investments and funds, amortized cost	15	15
Investments and funds, fair value	15	15
Total available-for-sale debt securities
Available-for-sale securities:
Investments and funds, amortized cost	514	1,080
Investments and funds, fair value	514	1,079
Other long-term investments
Available-for-sale securities:
Other long-term investments	13	12
Investments and funds, fair value	$ 13	$ 12

Cash and Cash Equivalents, In32

Cash and Cash Equivalents, Investments and Funds Held for Customers - Classified by the stated maturity date (Details) - USD ($) $ in Millions	Apr. 30, 2016	Jul. 31, 2015
Available-for-sale Securities, Debt Maturities
Due within one year, amortized cost	$ 189	$ 434
Due within one year, fair value	189	435
Due within two years, amortized cost	125	443
Due within two years, fair value	125	442
Due within three years, amortized cost	75	156
Due within three years, fair value	75	156
Due after three years, amortized cost	125	47
Due after three years, fair value	125	46
Total available-for-sale debt securities, amortized cost	514	1,080
Total available-for-sale debt securities, fair value	$ 514	$ 1,079

Discontinued Operations Net Inc

Discontinued Operations Net Income (Loss) from Discontinued Operations (Details) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2016USD ($)	Apr. 30, 2015USD ($)	Apr. 30, 2016USD ($)	Apr. 30, 2015USD ($)	Feb. 01, 2016business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture of businesses			$ 463	$ 0
Pre-tax gain on sale of discontinued operations			354	0
Number of businesses held for sale | business					3
Income tax provision	$ 178
Net gain on disposal	176	$ 0	173	0
Net revenue from discontinued operations	22	59	137	179
Income (loss) from discontinued operations before income taxes	3	(161)	(2)	(175)
Net income (loss) from discontinued operations	178	(155)	173	(164)
Demandforce
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenue from discontinued operations	0	28	49	89
Income (loss) from discontinued operations before income taxes	0	(18)	(10)	(46)
Net income (loss) from discontinued operations	0	(9)	(6)	(28)
QuickBase
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenue from discontinued operations	14	18	54	52
Income (loss) from discontinued operations before income taxes	4	3	10	10
Net income (loss) from discontinued operations	2	1	6	6
Quicken
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenue from discontinued operations	8	13	34	38
Income (loss) from discontinued operations before income taxes	(1)	(146)	(2)	(139)
Net income (loss) from discontinued operations	$ 0	$ (147)	$ 0	$ (142)

Current Liabilities (Details)

Current Liabilities (Details)	Feb. 01, 2016USD ($)	Apr. 30, 2016USD ($)	Apr. 30, 2016USD ($)	Apr. 30, 2015USD ($)	Mar. 12, 2007USD ($)
Debt Instrument [Line Items]
Cash paid for interest on the Notes			$ 29,000,000	$ 29,000,000
Current Liabilities (Textuals)
Borrowings from lines of credit			995,000,000	0
Repayments of lines of credit			$ 995,000,000	$ 0
Revolving Credit Facility | Unsecured Debt
Debt Instrument [Line Items]
Long-term line of credit	$ 745,000,000
Term Loan
Debt Instrument [Line Items]
Cash paid for interest on the Notes		$ 1,000,000
5.75 percent fixed-rate notes due 2017
Debt Instrument [Line Items]
Senior notes					$ 500,000,000
Interest rate stated percentage					5.75%
Current Liabilities (Textuals)
Term loan					$ 500,000,000
February 1, 2016 Credit Agreement
Debt Instrument [Line Items]
Debt instrument, term	5 years
Current Liabilities (Textuals)
Master credit agreement	$ 1,500,000,000
February 1, 2016 Credit Agreement | Line of Credit
Current Liabilities (Textuals)
Debt to EBITDA ratio (not greater than)	3.25
EBITDA to interest payable ratio (not less than)	3
February 1, 2016 Credit Agreement | Revolving Credit Facility | Line of Credit
Current Liabilities (Textuals)
Unsecured revolving credit facility	$ 1,000,000,000
Revolving credit facility, increase limit	$ 250,000,000
Unsecured revolving credit facility extension	2
Borrowings from lines of credit		250,000,000
Repayments of lines of credit		$ (250,000,000)
February 1, 2016 Credit Agreement | Term Loan | Line of Credit
Debt Instrument [Line Items]
Senior notes	$ 500,000,000
Current Liabilities (Textuals)
Term loan	$ 500,000,000
Base Rate | February 1, 2016 Credit Agreement | Revolving Credit Facility | Line of Credit | Minimum
Current Liabilities (Textuals)
Basis spread on variable rate	0.00%
Base Rate | February 1, 2016 Credit Agreement | Revolving Credit Facility | Line of Credit | Maximum
Current Liabilities (Textuals)
Basis spread on variable rate	0.50%
Base Rate | February 1, 2016 Credit Agreement | Term Loan | Line of Credit | Minimum
Current Liabilities (Textuals)
Basis spread on variable rate	0.125%
Base Rate | February 1, 2016 Credit Agreement | Term Loan | Line of Credit | Maximum
Current Liabilities (Textuals)
Basis spread on variable rate	0.875%
LIBOR | February 1, 2016 Credit Agreement | Revolving Credit Facility | Line of Credit | Minimum
Current Liabilities (Textuals)
Basis spread on variable rate	0.90%
LIBOR | February 1, 2016 Credit Agreement | Revolving Credit Facility | Line of Credit | Maximum
Current Liabilities (Textuals)
Basis spread on variable rate	1.50%
LIBOR | February 1, 2016 Credit Agreement | Term Loan | Line of Credit | Minimum
Current Liabilities (Textuals)
Basis spread on variable rate	1.125%
LIBOR | February 1, 2016 Credit Agreement | Term Loan | Line of Credit | Maximum
Current Liabilities (Textuals)
Basis spread on variable rate	1.875%

- Other Current Liabilities (De

- Other Current Liabilities (Details) - USD ($) $ in Millions	Apr. 30, 2016	Jul. 31, 2015
Other Liabilities, Current [Abstract]
Reserve for product returns	$ 32	$ 12
Reserve for rebates	26	12
Current portion of license fee payable	10	10
Current portion of deferred rent	7	8
Interest payable	4	10
Executive deferred compensation plan liabilities	67	63
Other	53	28
Total other current liabilities	$ 199	$ 143

Long-Term Obligations and Com36

Long-Term Obligations and Commitments (Details)	Feb. 01, 2016USD ($)	Jan. 31, 2016USD ($)	Apr. 30, 2016USD ($)	Apr. 30, 2016USD ($)	Apr. 30, 2015USD ($)	Jul. 31, 2015USD ($)
Debt Instrument [Line Items]
Long-term debt			$ 500,000,000	$ 500,000,000		$ 500,000,000
Long Term Obligations (Textuals)
Cash paid for interest on the Notes				29,000,000	$ 29,000,000
Other long-term obligations
Total deferred rent			57,000,000	57,000,000		49,000,000
Total license fee payable			36,000,000	36,000,000		34,000,000
Long-term income tax liabilities			51,000,000	51,000,000		45,000,000
Long-term deferred income tax liabilities			5,000,000	5,000,000		50,000,000
Other			22,000,000	22,000,000		13,000,000
Total long-term obligations			171,000,000	171,000,000		191,000,000
Less current portion (included in other current liabilities)			(18,000,000)	(18,000,000)		(19,000,000)
Long-term obligations due after one year			153,000,000	153,000,000		$ 172,000,000
Building and Building Improvements
Other long-term obligations
Purchase of leased facilities		$ 262,000,000
Term Loan
Long Term Obligations (Textuals)
Cash paid for interest on the Notes			1,000,000
February 1, 2016 Credit Agreement
Long Term Obligations (Textuals)
Debt instrument, term	5 years
Master credit agreement	$ 1,500,000,000
February 1, 2016 Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Debt to EBITDA ratio (not greater than)	3.25
EBITDA to interest payable ratio (not less than)	3
Periodic principal payment percentage	2.50%
February 1, 2016 Credit Agreement | Line of Credit | Term Loan
Debt Instrument [Line Items]
Long-term debt			$ 500,000,000	$ 500,000,000
Long Term Obligations (Textuals)
Term loan	$ 500,000,000
Term loan, increase limit	500,000,000
February 1, 2016 Credit Agreement | Line of Credit | Revolving Credit Facility
Long Term Obligations (Textuals)
Unsecured revolving credit facility	$ 1,000,000,000
Base Rate | Minimum | February 1, 2016 Credit Agreement | Line of Credit | Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate	0.125%
Base Rate | Minimum | February 1, 2016 Credit Agreement | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	0.00%
Base Rate | Maximum | February 1, 2016 Credit Agreement | Line of Credit | Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate	0.875%
Base Rate | Maximum | February 1, 2016 Credit Agreement | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
LIBOR | Minimum | February 1, 2016 Credit Agreement | Line of Credit | Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate	1.125%
LIBOR | Minimum | February 1, 2016 Credit Agreement | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	0.90%
LIBOR | Maximum | February 1, 2016 Credit Agreement | Line of Credit | Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate	1.875%
LIBOR | Maximum | February 1, 2016 Credit Agreement | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Apr. 30, 2016	Jan. 31, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015	Jul. 31, 2015
Income Tax Disclosure [Abstract]
Tax benefit for research credits		$ 12
Effective tax rate	34.00%		38.00%	33.00%	39.00%
Effective income tax rate reconciliation, excluding discrete tax benefits, percent			36.00%		36.00%
Federal statutory income tax rate	35.00%		35.00%	35.00%	35.00%
Total amount of unrecognized tax benefits						$ 56
Unrecognized tax benefits, net of related deferred tax assets						37
Favorable net impact to income tax expense due to recognition of tax benefits						$ 37

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	May. 31, 2016	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock repurchased (in shares)				24.1	13.7
Common stock repurchased, value				$ 2,190	$ 1,236
Common stock, dividends, per share, cash paid (in dollars per share)				$ 0.9
Payments of dividends				$ 241	$ 218
Cash dividends declared per common share (in USD per share)		$ 0.30	$ 0.25	$ 0.90	$ 0.75
Allocated share-based compensation expense		$ 65	$ 59	$ 197	$ 172
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested share based compensation expense		41		$ 41
Expected weighted average vesting period to recognize compensation cost related to share based compensation expense, in years				1 year 11 months
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested share based compensation expense		290		$ 290
Expected weighted average vesting period to recognize compensation cost related to share based compensation expense, in years				1 year 9 months
Discontinued Operations, Disposed of by Sale
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense				$ 3	$ 12
Software and Software Development Costs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Capitalized computer software, gross				5
Subsequent event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash dividends declared per common share (in USD per share)	$ 0.3
New Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, remaining authorized repurchase amount		$ 435		$ 435

Stockholders' Equity Share-Base

Stockholders' Equity Share-Based Compensation Expense (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2016	Apr. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 65	$ 59	$ 197	$ 172
Income tax benefit	(20)	(18)	(60)	(54)
Decrease in net income from continuing operations	$ 45	$ 41	$ 137	$ 118
Earnings Per Share, Increase (Decrease)
Basic (dollars per share)	$ 0.18	$ 0.15	$ 0.52	$ 0.42
Diluted (dollars per share)	$ 0.17	$ 0.15	$ 0.51	$ 0.41
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 2	$ 2	$ 6	$ 4
Selling and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	18	17	55	50
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	21	19	63	56
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 24	$ 21	$ 73	$ 62

Stockholders' Equity Share-Ba40

Stockholders' Equity Share-Based Awards Available for Grant (Details)	9 Months Ended
	Apr. 30, 2016shares
Shares Available for Grant
Shares available for grant, beginning balance (in shares)	17,183,000
Options granted (in shares)	(9,000)
Restricted stock units granted (in shares)	(1,219,000)	[1]
Share-based awards canceled/forfeited/expired (in shares)	3,544,000	[1],[2]
Shares available for grant, ending balance (in shares)	19,499,000
Pool shares reduced for each share granted (in shares)	2.3
Pool shares increased for each share forfeited (in shares)	2.3
[1]	RSUs granted from the pool of shares available for grant under our 2005 Equity Incentive Plan reduce the pool by 2.3 shares for each share granted. RSUs forfeited and returned to the pool of shares available for grant increase the pool by 2.3 shares for each share forfeited.
[2]	Stock options and restricted stock units canceled, expired or forfeited under our 2005 Equity Incentive Plan are returned to the pool of shares available for grant. Stock options and restricted stock units canceled, expired or forfeited under older expired plans are not returned to the pool of shares available for grant.

Stockholders' Equity Stock-Opti

Stockholders' Equity Stock-Option Activity and Related Share-Based Compensation Expense (Details) shares in Thousands	9 Months Ended
	Apr. 30, 2016$ / sharesshares
Number of Shares
Options outstanding, beginning balance | shares	8,713
Options granted, number of shares (in shares) | shares	9
Options exercised, number of shares (in shares) | shares	(1,567)
Options canceled or expired, number of shares (in shares) | shares	(328)
Options outstanding, ending balance | shares	6,827
Weighted Average Exercise Price Per Share
Weighted average exercise price per share, Beginning Balance (in USD per share) | $ / shares	$ 69.13
Options granted, weighted average exercise price per share (in USD per share) | $ / shares	94.88
Options exercised, weighted average exercise price per share (in USD per share) | $ / shares	45.72
Options canceled or expired, weighted average exercise price per share (in USD per share) | $ / shares	75.18
Weighted average exercise price per share, Beginning Balance (in USD per share) | $ / shares	$ 74.24
Exercisable (in shares) | shares	3,802
Exercisable, Weighted average exercise price per share (in USD per share) | $ / shares	$ 58.37

Stockholders' Equity Restricted

Stockholders' Equity Restricted Stock Unit Activity and Related Share-Based Compensation Expense (Details) shares in Thousands	9 Months Ended
	Apr. 30, 2016$ / sharesshares
Number of Shares
Nonvested at beginning of period (in shares) | shares	8,916
Granted, Number of shares (in shares) | shares	530
Vested, Number of Shares (in shares) | shares	(910)
Forfeited, Number of Shares (in shares) | shares	(1,463)
Nonvested at end of period (in shares) | shares	7,073
Weighted Average Grant Date Fair Value
Nonvested, Weighted Average Grant Date Fair Value, at beginning of period (in USD per shares) | $ / shares	$ 76.64
Granted, Weighted Average Grant Date Fair Value (in USD per shares) | $ / shares	96.36
Vested, Weighted Average Grant Date Fair Value (in USD per shares) | $ / shares	71.74
Forfeited, Weighted Average Grant Date Fair Value (in USD per shares) | $ / shares	72.77
Nonvested, Weighted Average Grant Date Fair Value, at end of period (in USD per shares) | $ / shares	$ 79.55

Segment Information (Details)

Segment Information (Details) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2016USD ($)	Apr. 30, 2015USD ($)	Apr. 30, 2016USD ($)segment	Apr. 30, 2015USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment			3
International total net revenue as a percentage of total (less than)	5.00%	5.00%	5.00%	5.00%
Financial results by reportable segment
Total net revenue	$ 2,304	$ 2,135	$ 3,940	$ 3,496
Total operating income from continuing operations	1,285	1,066	1,298	868
Unallocated corporate items:
Share-based compensation expense			(200)	(184)
Amortization of other acquired intangible assets	(3)	(3)	(6)	(9)
Goodwill impairment charge	0	(114)	0	(114)
Operating Segments
Financial results by reportable segment
Total operating income from continuing operations	1,596	1,437	2,153	1,745
Corporate, Non-Segment
Financial results by reportable segment
Total operating income from continuing operations	(311)	(371)	(855)	(877)
Unallocated corporate items:
Share-based compensation expense	(65)	(59)	(197)	(172)
Other common expenses	(238)	(187)	(635)	(560)
Corporate, Non-Segment | Technology-Based Intangible Assets
Unallocated corporate items:
Amortization of other acquired intangible assets	(5)	(8)	(17)	(22)
Corporate, Non-Segment | Other Intangible Assets
Unallocated corporate items:
Amortization of other acquired intangible assets	(3)	(3)	(6)	(9)
Small Business segment
Financial results by reportable segment
Total net revenue	580	516	1,690	1,560
Total operating income from continuing operations	217	166	627	524
Consumer Tax segment
Financial results by reportable segment
Total net revenue	1,598	1,489	1,930	1,759
Total operating income from continuing operations	1,293	1,188	1,327	1,178
Professional Tax segment
Financial results by reportable segment
Total net revenue	126	130	320	177
Total operating income from continuing operations	86	83	199	43
Segment Reconciling Items
Unallocated corporate items:
Goodwill impairment charge	$ 0	$ (114)	$ 0	$ (114)