Intuit (INTU) 10-Q 23 May 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Apr. 30, 2017	May 17, 2017
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, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		256,216,921

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2017	Apr. 30, 2016	Apr. 30, 2017	Apr. 30, 2016
Net revenue:
Product	$ 467	$ 459	$ 1,063	$ 994
Service and other	2,074	1,845	3,272	2,946
Total net revenue	2,541	2,304	4,335	3,940
Cost of revenue:
Cost of product revenue	29	30	95	99
Cost of service and other revenue	205	181	522	465
Amortization of acquired technology	3	5	9	17
Selling and marketing	467	423	1,155	1,023
Research and development	246	228	735	646
General and administrative	146	149	412	386
Amortization of other acquired intangible assets	1	3	2	6
Total costs and expenses	1,097	1,019	2,930	2,642
Operating income from continuing operations	1,444	1,285	1,405	1,298
Interest expense	(8)	(10)	(28)	(26)
Interest and other income (expense), net	3	2	0	(7)
Income before income taxes	1,439	1,277	1,377	1,265
Income tax provision	475	429	430	419
Net income from continuing operations	964	848	947	846
Net income from discontinued operations	0	178	0	173
Net income	$ 964	$ 1,026	$ 947	$ 1,019
Earnings Per Share, Basic [Abstract]
Basic net income per share from continuing operations (in USD per share)	$ 3.76	$ 3.30	$ 3.68	$ 3.21
Basic net income per share from discontinued operations (in USD per share)	0	0.70	0	0.65
Basic net income per share (in USD per share)	$ 3.76	$ 4	$ 3.68	$ 3.86
Shares used in basic per share calculations	256	257	257	264
Earnings Per Share, Diluted [Abstract]
Diluted net income per share from continuing operations (in USD per share)	$ 3.70	$ 3.26	$ 3.63	$ 3.17
Diluted net income per share from discontinued operations (in USD per share)	0	0.68	0	0.64
Diluted net income per share (in USD per share)	$ 3.70	$ 3.94	$ 3.63	$ 3.81
Shares used in diluted per share calculations (in shares)	260	260	261	267
Dividends [Abstract]
Cash dividends declared per common share (in USD per share)	$ 0.34	$ 0.30	$ 1.02	$ 0.90

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2017	Apr. 30, 2016	Apr. 30, 2017	Apr. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 964	$ 1,026	$ 947	$ 1,019
Other comprehensive income (loss), net of income taxes:
Unrealized gains on available-for-sale debt securities	0	0	(1)	0
Foreign currency translation gains (losses)	(2)	16	(3)	4
Total other comprehensive income (loss), net	(2)	16	(4)	4
Comprehensive income	$ 962	$ 1,042	$ 943	$ 1,023

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Apr. 30, 2017	Jul. 31, 2016
Current assets:
Cash and cash equivalents	$ 1,350	$ 638
Investments	243	442
Accounts receivable, net	245	108
Income taxes receivable	0	20
Prepaid expenses and other current assets	94	102
Current assets before funds held for customers	1,932	1,310
Funds held for customers	323	304
Total current assets	2,255	1,614
Long-term investments	28	28
Property and equipment, net	1,041	1,031
Goodwill	1,294	1,282
Acquired intangible assets, net	27	44
Long-term deferred income taxes	183	139
Other assets	141	112
Total assets	4,969	4,250
Current liabilities:
Short-term debt	50	512
Accounts payable	269	184
Accrued compensation and related liabilities	240	289
Deferred revenue	955	801
Income taxes payable	435	4
Other current liabilities	222	157
Current liabilities before customer fund deposits	2,171	1,947
Customer fund deposits	323	304
Total current liabilities	2,494	2,251
Long-term debt	450	488
Long-term deferred revenue	178	204
Other long-term obligations	150	146
Total liabilities	3,272	3,089
Commitments and contingencies
Stockholders’ equity:
Preferred stock	0	0
Common stock and additional paid-in capital	4,787	4,445
Treasury stock, at cost	(10,417)	(9,939)
Accumulated other comprehensive loss	(36)	(32)
Retained earnings	7,363	6,687
Total stockholders’ equity	1,697	1,161
Total liabilities and stockholders’ equity	$ 4,969	$ 4,250

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, 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, net of shares withheld for employee taxes, shares		2,767
Issuance of stock under employee stock plans, net of shares withheld for employee taxes	$ 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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of change in accounting principle	2		6			(4)
Beginning Balance, shares at Jul. 31, 2016		257,853
Beginning Balance at Jul. 31, 2016	1,161		4,445	(9,939)	(32)	6,687
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	943				(4)	947
Issuance of stock under employee stock plans, net of shares withheld for employee taxes, shares		2,642
Issuance of stock under employee stock plans, net of shares withheld for employee taxes	$ 89		89
Stock repurchases under stock repurchase programs, shares	(4,200)	(4,241)
Stock repurchases under stock repurchase programs	$ (478)			(478)
Dividends and dividend rights declared	(267)					(267)
Share-based compensation expense	247		247
Ending Balance, shares at Apr. 30, 2017		256,254
Ending Balance at Apr. 30, 2017	$ 1,697		$ 4,787	$ (10,417)	$ (36)	$ 7,363

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Apr. 30, 2017	Apr. 30, 2016	Apr. 30, 2017	Apr. 30, 2016
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in USD per share)	$ 0.34	$ 0.30	$ 1.02	$ 0.90

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Apr. 30, 2017	Apr. 30, 2016
Cash flows from operating activities:
Net income	$ 947	$ 1,019
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	156	145
Amortization of acquired intangible assets	18	30
Share-based compensation expense	241	200
Pre-tax gain on sale of discontinued operations	0	(354)
Deferred income taxes	(36)	40
Tax benefit from share-based compensation plans	0	30
Other	9	11
Total adjustments	388	102
Changes in operating assets and liabilities:
Accounts receivable	(138)	(125)
Income taxes receivable	19	79
Prepaid expenses and other assets	5	(15)
Accounts payable	104	77
Accrued compensation and related liabilities	(47)	(69)
Deferred revenue	130	213
Income taxes payable	431	435
Other liabilities	50	25
Total changes in operating assets and liabilities	554	620
Net cash provided by operating activities	1,889	1,741
Cash flows from investing activities:
Purchases of corporate and customer fund investments	(286)	(589)
Sales of corporate and customer fund investments	332	990
Maturities of corporate and customer fund investments	150	160
Net change in cash and cash equivalents held to satisfy customer fund obligations	(18)	(35)
Net change in customer fund deposits	18	35
Purchases of property and equipment	(178)	(449)
Proceeds from divestiture of businesses	0	463
Other	(40)	3
Net cash provided by (used in) investing activities	(22)	578
Cash flows from financing activities:
Proceeds from borrowings under revolving credit facilities	150	995
Repayments on borrowings under revolving credit facilities	(150)	(995)
Proceeds from long-term debt	0	500
Repayment of debt	(500)	0
Proceeds from issuance of stock under employee stock plans	150	125
Payments for employee taxes withheld upon vesting of restricted stock units	(61)	(36)
Cash paid for purchases of treasury stock	(473)	(2,190)
Dividends and dividend rights paid	(265)	(238)
Other	0	(5)
Net cash used in financing activities	(1,149)	(1,844)
Effect of exchange rates on cash and cash equivalents	(6)	6
Net increase in cash and cash equivalents	712	481
Cash and cash equivalents at beginning of period	638	808
Cash and cash equivalents at end of period	$ 1,350	$ 1,289

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	9 Months Ended
	Apr. 30, 2017
Accounting Policies [Abstract]
Description of Business and Summary of Significant Accounting Policies	1. 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. 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, 2016 . Results for the nine months ended April 30, 2017 do not necessarily indicate the results we expect for the fiscal year ending July 31, 2017 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, 2016 . There have been no changes to our significant accounting policies during the first nine months of fiscal 2017 . 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 and unrecognized compensation expense that are less than the average market price for our common stock, and RSUs with unrecognized compensation expense that is 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 and unrecognized compensation expense that are greater than the average market price for our common stock, and RSUs with unrecognized compensation expense that is 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 and the amount of compensation expense for future service that we have not yet recognized for stock options and RSUs are assumed to be used to repurchase shares. Prior to our early adoption of ASU 2016-09 in the first quarter of fiscal 2017, we included tax benefits in assessing whether equity awards were dilutive and in our calculations of weighted average dilutive shares under the treasury stock method. 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 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 $ 964 $ 848 $ 947 $ 846 Net income from discontinued operations — 178 — 173 Net income $ 964 $ 1,026 $ 947 $ 1,019 Denominator: Shares used in basic per share amounts: Weighted average common shares outstanding 256 257 257 264 Shares used in diluted per share amounts: Weighted average common shares outstanding 256 257 257 264 Dilutive common equivalent shares from stock options and restricted stock awards 4 3 4 3 Dilutive weighted average common shares outstanding 260 260 261 267 Basic and diluted net income per share: Basic net income per share from continuing operations $ 3.76 $ 3.30 $ 3.68 $ 3.21 Basic net income per share from discontinued operations — 0.70 — 0.65 Basic net income per share $ 3.76 $ 4.00 $ 3.68 $ 3.86 Diluted net income per share from continuing operations $ 3.70 $ 3.26 $ 3.63 $ 3.17 Diluted net income per share from discontinued operations — 0.68 — 0.64 Diluted net income per share $ 3.70 $ 3.94 $ 3.63 $ 3.81 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 3 2 4 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, 2017 or April 30, 2016 . No customer accounted for 10% or more of gross accounts receivable at April 30, 2017 or July 31, 2016 . Accounting Standards Recently Adopted Standard/Description Effective Date and Adoption Considerations Effect on Financial Statements Stock Compensation - In March 2016 the FASB issued ASU 2016-09, “ Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. ” As required by ASU 2016-09, excess tax benefits recognized on stock-based compensation expense are reflected in our condensed consolidated statements of operations as a component of the provision for income taxes on a prospective basis. Excess tax benefits are classified as an operating activity in our condensed consolidated statements of cash flows and we have applied this provision on a retrospective basis. We elected to early adopt this standard in the first quarter of our fiscal year that began August 1, 2016. For the three and nine months ended April 30, 2017, we recognized excess tax benefits of $12 million and $38 million in our provision for income taxes. For the nine months ended April 30, 2016, net cash provided by operating activities increased by $30 million with a corresponding offset to net cash used in financing activities. In addition, we have elected to account for forfeitures as they occur, rather than estimate expected forfeitures over the course of a vesting period. As a result of the adoption of ASU 2016-09, we recognized the net cumulative effect of this change as a $6 million increase to additional paid-in capital, a $2 million increase to deferred tax assets and a $4 million reduction to retained earnings as of August 1, 2016. Accounting Standards Not Yet Adopted Standard/Description Effective Date and Adoption Considerations Effect on Financial Statements Goodwill Impairment - In January 2017 the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2017-04, “ Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” This new standard eliminates Step 2 from the goodwill impairment test. Instead, an entity should compare the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The standard is effective for fiscal years beginning after December 15, 2019, 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, 2020. Early adoption is permitted. We are currently evaluating the impact of our pending adoption of ASU 2017-04 on our consolidated financial statements. Business Combinations - In January 2017 the FASB issued ASU 2017-01, “ Business Combinations (Topic 805): Clarifying the Definition of a Business . ” This new standard clarifies the definition of a business in order to allow for the evaluation of whether transactions should be accounted for as acquisitions or disposals of assets or businesses. The standard is effective for fiscal years beginning after December 15, 2017, 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, 2018. Early adoption is permitted. We are currently evaluating the impact of our pending adoption of ASU 2017-01 on our consolidated financial statements. Accounting Standards Not Yet Adopted (continued) Standard/Description Effective Date and Adoption Considerations Effect on Financial Statements Statement of Cash Flows - In August 2016 the FASB issued ASU 2016-15, “ Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments.” This new standard will make eight targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows. The standard is effective for fiscal years 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. The standard will require adoption on a retrospective basis unless it is impracticable to apply, in which case we would be required to apply the amendments prospectively as of the earliest date practicable. We are currently evaluating the impact of our pending adoption of ASU 2016-15 on our consolidated financial statements. Financial Instruments - In June 2016 the FASB issued ASU 2016-13, “ Financial Instruments—Credit Losses (Topic 326). ” This new standard requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The standard is effective for fiscal years beginning after December 15, 2019, 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, 2020. Earlier adoption is permitted in the first quarter of our fiscal year beginning August 1, 2019. We are currently evaluating the impact of our pending adoption of ASU 2016-13 on our consolidated financial statements. Leases - In February 2016 the FASB issued ASU 2016-02, “ Leases (Topic 842). ” This new standard 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. The standard 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 standard 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. Revenue Recognition - 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. This new standard supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of the standard 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. The standard 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 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. The standard 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 one year prior to the required effective date is permitted. The standard 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 the standard 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.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Apr. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	2. 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, 2017 July 31, 2016 (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 $ 630 $ — $ — $ 630 $ 416 $ — $ — $ 416 Available-for-sale debt securities: Municipal bonds — 85 — 85 — 186 — 186 Corporate notes — 358 — 358 — 420 — 420 U.S. agency securities — — — — — 36 — 36 Municipal auction rate securities — — 15 15 — — 15 15 Total available-for-sale securities — 443 15 458 — 642 15 657 Total assets measured at fair value on a recurring basis $ 630 $ 443 $ 15 $ 1,088 $ 416 $ 642 $ 15 $ 1,073 Liabilities: Senior notes (1) $ — $ — $ — $ — $ — $ 515 $ — $ 515 ______________________________ (1) Carrying value on our balance sheet at July 31, 2016 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, 2017 July 31, 2016 (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 $ 630 $ — $ — $ 630 $ 312 $ — $ — $ 312 In funds held for customers — — — — 104 — — 104 Total cash equivalents $ 630 $ — $ — $ 630 $ 416 $ — $ — $ 416 Available-for-sale securities: In investments $ — $ 243 $ — $ 243 $ — $ 442 $ — $ 442 In funds held for customers — 200 — 200 — 200 — 200 In long-term investments — — 15 15 — — 15 15 Total available-for-sale securities $ — $ 443 $ 15 $ 458 $ — $ 642 $ 15 $ 657 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 measured using Level 2 inputs consisted of senior unsecured notes. We repaid those notes during the third quarter of fiscal 2017. See Note 5, “ Current Liabilities – Short-Term Debt,” for more information. We measured 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, 2017

Cash and Cash Equivalents, Inve

Cash and Cash Equivalents, Investments and Funds Held for Customers	9 Months Ended
	Apr. 30, 2017
Cash and Cash Equivalents, Investments and Funds Held for Customers [Abstract]
Cash and Cash Equivalents, Investments and Funds Held for Customers	3. 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 April 30, 2017 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, 2017 July 31, 2016 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value Classification on balance sheets: Cash and cash equivalents $ 1,350 $ 1,350 $ 638 $ 638 Investments 243 243 441 442 Funds held for customers 323 323 304 304 Long-term investments 28 28 28 28 Total cash and cash equivalents, investments, and funds held for customers $ 1,944 $ 1,944 $ 1,411 $ 1,412 The following table summarizes our cash and cash equivalents, investments, and funds held for customers by investment category at the dates indicated. April 30, 2017 July 31, 2016 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value Type of issue: Total cash and cash equivalents $ 1,473 $ 1,473 $ 742 $ 742 Available-for-sale debt securities: Municipal bonds 85 85 186 186 Corporate notes 358 358 419 420 U.S. agency securities — — 36 36 Municipal auction rate securities 15 15 15 15 Total available-for-sale debt securities 458 458 656 657 Other long-term investments 13 13 13 13 Total cash and cash equivalents, investments, and funds held for customers $ 1,944 $ 1,944 $ 1,411 $ 1,412 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 nine months ended April 30, 2017 and April 30, 2016 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, 2017 and July 31, 2016 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, 2017 were not other-than-temporarily impaired. Unrealized losses on available-for-sale debt securities at April 30, 2017 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, 2017 July 31, 2016 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value Due within one year $ 184 $ 184 $ 285 $ 285 Due within two years 180 180 209 210 Due within three years 71 71 143 143 Due after three years 23 23 19 19 Total available-for-sale debt securities $ 458 $ 458 $ 656 $ 657

Discontinued Operations

Discontinued Operations	9 Months Ended
	Apr. 30, 2017
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	4. 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 pre-tax gain of $354 million and a net gain of $173 million on the disposal of these three businesses in 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. 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 was $22 million and $137 million for the three and nine months ended April 30, 2016 . Net income from discontinued operations was $178 million and $173 million for the three and nine months ended April 30, 2016

Current Liabilities

Current Liabilities	9 Months Ended
	Apr. 30, 2017
Other Liabilities Disclosure [Abstract]
Current Liabilities	5. Current Liabilities Short-Term Debt Short-term debt at July 31, 2016 included $500 million of 5.75% senior unsecured notes due on March 15, 2017, less the unamortized discount. During the third quarter of fiscal 2017 we repaid those notes when they became due using cash from operations. We paid $29 million in cash for interest on the notes during the nine months ended April 30, 2017 and $29 million in cash for interest on the notes during the nine months ended April 30, 2016 . On February 1, 2016 we entered into a master credit agreement with certain institutional lenders for a 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. At April 30, 2017 , $500 million was outstanding under the term loan, of which $50 million was classified as short-term debt. See Note 6, “ Long-Term Obligations and Commitments – Long-Term Debt,” for more information regarding the term loan. Unsecured Revolving Credit Facilities The master credit agreement we entered into on February 1, 2016 includes a $1 billion unsecured revolving credit facility that will expire on February 1, 2021. Under the 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, 2017 . During the nine months ended April 30, 2017 we borrowed $150 million under this revolving credit facility and at April 30, 2017 no amounts were outstanding. We paid $1 million in cash for interest on the revolving credit facility during the nine months ended April 30, 2017 and $2 million in cash for interest on revolving credit facilities during the nine months ended April 30, 2016 . Other Current Liabilities Other current liabilities were as follows at the dates indicated: (In millions) April 30, July 31, Reserve for product returns $ 41 $ 7 Reserve for rebates 34 14 Current portion of license fee payable 10 10 Current portion of deferred rent 6 6 Interest payable 1 11 Amounts due for share repurchases 5 — Executive deferred compensation plan liabilities 80 69 Other 45 40 Total other current liabilities $ 222 $ 157 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,”

Long-Term Obligations and Commi

Long-Term Obligations and Commitments	9 Months Ended
	Apr. 30, 2017
Long-Term Obligations [Abstract]
Long-Term Obligations and Commitments	6. 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 five-year credit facility in an aggregate principal amount of $1.5 billion , which includes a $500 million unsecured term loan. 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, 2017 , $500 million was outstanding under the term loan, of which $50 million was classified as short-term debt. Interest on the term loan is payable monthly. We paid $7 million and $1 million in cash for interest on the term loan during the nine months ended April 30, 2017 and 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 $ 51 $ 56 Total license fee payable 28 26 Long-term income tax liabilities 60 54 Long-term deferred income tax liabilities 6 7 Other 22 20 Total long-term obligations 167 163 Less current portion (included in other current liabilities) (17 ) (17 ) Long-term obligations due after one year $ 150 $ 146 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, 2016 . There were no significant changes in our operating lease commitments during the nine months ended April 30, 2017

Income Taxes

Income Taxes	9 Months Ended
	Apr. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	7. Income Taxes Adoption of ASU 2016-09, “Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” In the first quarter of fiscal 2017, we elected to early adopt ASU 2016-09, "Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting." This new standard requires excess tax benefits recognized on stock-based compensation expense to be reflected in the statements of operations as a component of the provision for income taxes on a prospective basis. See Note 1, “ Description of Business and Summary of Significant Accounting Policies, ” for more information. 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, 2017 were approximately 33% and 31% . Excluding discrete tax items primarily related to share-based compensation tax benefits resulting from the adoption of ASU 2016-09, our effective tax rate for both periods were 34% 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 state income taxes, nondeductible share-based compensation, 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, 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 nondeductible 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. Unrecognized Tax Benefits and Other Considerations The total amount of our unrecognized tax benefits at July 31, 2016 was $60 million. Net of related deferred tax assets, unrecognized tax benefits were $40 million at that date. If we were to recognize these net benefits, our income tax expense would reflect a favorable net impact of $40 million. There were no material changes to these amounts during the nine months ended April 30, 2017

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Apr. 30, 2017
Equity [Abstract]
Stockholders' Equity	8. 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 4.2 million shares for $478 million under these programs during the nine months ended April 30, 2017 . Included in this amount were $5 million of repurchases which occurred in late April 2017 and were settled in early May 2017. We repurchased 24.1 million shares for $2.2 billion under these programs during the nine months ended April 30, 2016 . At April 30, 2017 , we had authorization from our Board of Directors to expend up to an additional $1.9 billion for stock repurchases. Future stock repurchases under the current programs 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, 2017 we declared and paid quarterly cash dividends that totaled $1.02 per share of outstanding common stock or $265 million. In May 2017 our Board of Directors declared a quarterly cash dividend of $0.34 per share of outstanding common stock payable on July 18, 2017 to stockholders of record at the close of business on July 10, 2017 . 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 $ 6 Selling and marketing 19 18 66 55 Research and development 24 21 89 63 General and administrative 26 24 80 73 Total share-based compensation expense $ 71 $ 65 $ 241 $ 197 We capitalized $6 million in share-based compensation related to internal use software projects during the nine months ended April 30, 2017 and $5 million 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 . Because we have not reclassified our statements of cash flows to segregate discontinued operations, this amount is included in share-based compensation expense on our statement of cash flows for that period. 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, 2017 was as follows: (Shares in thousands) Shares Available for Grant Balance at July 31, 2016 8,990 Additional shares authorized 23,110 Options granted (16 ) Restricted stock units granted (1) (1,882 ) Share-based awards canceled/forfeited/expired (1)(2) 3,178 Balance at April 30, 2017 33,380 ____________________________________________________ (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. Shares withheld for income taxes upon vesting of restricted stock units that were granted on or after July 21, 2016 are also 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, 2017 was as follows: Options Outstanding (Shares in thousands) Number of Shares Weighted Average Exercise Price Per Share Balance at July 31, 2016 8,346 $ 88.55 Granted 16 116.47 Exercised (1,418 ) 68.59 Canceled or expired (408 ) 104.51 Balance at April 30, 2017 6,536 $ 91.95 Exercisable at April 30, 2017 3,311 $ 75.12 At April 30, 2017 , there was approximately $49 million of unrecognized compensation cost related to non-vested stock options with a weighted average vesting period of 1.9 years. We will adjust unrecognized compensation cost for actual forfeitures as they occur. Restricted Stock Unit Activity and Related Share-Based Compensation Expense A summary of restricted stock unit (RSU) activity for the nine months ended April 30, 2017 was as follows: Restricted Stock Units (Shares in thousands) Number of Shares Weighted Average Grant Date Fair Value Nonvested at July 31, 2016 9,039 $ 82.30 Granted 819 113.78 Vested (1,333 ) 65.82 Forfeited (1,167 ) 74.41 Nonvested at April 30, 2017 7,358 $ 90.04 At April 30, 2017 , there was approximately $415 million of unrecognized compensation cost related to non-vested RSUs with a weighted average vesting period of 2.0

Litigation

Litigation	9 Months Ended
	Apr. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Litigation	9. 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.

Segment Information

Segment Information	9 Months Ended
	Apr. 30, 2017
Segment Reporting [Abstract]
Segment Information	10. 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 targets small businesses and the accounting professionals who serve and advise them. Our Small Business offerings include QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions. They also include third-party applications that integrate with our offerings. Consumer Tax : Our Consumer Tax segment targets consumers and includes TurboTax income tax preparation products and services and electronic tax filing services. ProConnect : Our ProConnect segment targets professional accountants in the U.S. and Canada, who are essential to both small business success and doing the nations' taxes. Our ProConnect professional tax offerings include Lacerte, ProSeries, ProFile, and ProConnect Tax Online, 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, 2016 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 and sold during fiscal 2016. 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 $ 671 $ 580 $ 1,909 $ 1,690 Consumer Tax 1,754 1,598 2,099 1,930 ProConnect 116 126 327 320 Total net revenue $ 2,541 $ 2,304 $ 4,335 $ 3,940 Operating income from continuing operations: Small Business $ 277 $ 223 $ 758 $ 643 Consumer Tax 1,428 1,293 1,444 1,328 ProConnect 73 86 193 199 Total segment operating income 1,778 1,602 2,395 2,170 Unallocated corporate items: Share-based compensation expense (71 ) (65 ) (241 ) (197 ) Other common expenses (259 ) (244 ) (738 ) (652 ) Amortization of acquired technology (3 ) (5 ) (9 ) (17 ) Amortization of other acquired intangible assets (1 ) (3 ) (2 ) (6 ) Total unallocated corporate items (334 ) (317 ) (990 ) (872 ) Total operating income from continuing operations $ 1,444 $ 1,285 $ 1,405 $ 1,298

Description of Business and S18

Description of Business and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Apr. 30, 2017
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. 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, 2016 . Results for the nine months ended April 30, 2017 do not necessarily indicate the results we expect for the fiscal year ending July 31, 2017
Seasonality	Seasonality
Use of Estimates	Use of 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 and unrecognized compensation expense that are less than the average market price for our common stock, and RSUs with unrecognized compensation expense that is 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 and unrecognized compensation expense that are greater than the average market price for our common stock, and RSUs with unrecognized compensation expense that is 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 and the amount of compensation expense for future service that we have not yet recognized for stock options and RSUs are assumed to be used to repurchase shares. Prior to our early adoption of ASU 2016-09 in the first quarter of fiscal 2017, we included tax benefits in assessing whether equity awards were dilutive and in our calculations of weighted average dilutive shares under the treasury stock method. 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.
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, 2017 or April 30, 2016 . No customer accounted for 10% or more of gross accounts receivable at April 30, 2017 or July 31, 2016
Recent Accounting Pronouncements	Accounting Standards Recently Adopted Standard/Description Effective Date and Adoption Considerations Effect on Financial Statements Stock Compensation - In March 2016 the FASB issued ASU 2016-09, “ Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. ” As required by ASU 2016-09, excess tax benefits recognized on stock-based compensation expense are reflected in our condensed consolidated statements of operations as a component of the provision for income taxes on a prospective basis. Excess tax benefits are classified as an operating activity in our condensed consolidated statements of cash flows and we have applied this provision on a retrospective basis. We elected to early adopt this standard in the first quarter of our fiscal year that began August 1, 2016. For the three and nine months ended April 30, 2017, we recognized excess tax benefits of $12 million and $38 million in our provision for income taxes. For the nine months ended April 30, 2016, net cash provided by operating activities increased by $30 million with a corresponding offset to net cash used in financing activities. In addition, we have elected to account for forfeitures as they occur, rather than estimate expected forfeitures over the course of a vesting period. As a result of the adoption of ASU 2016-09, we recognized the net cumulative effect of this change as a $6 million increase to additional paid-in capital, a $2 million increase to deferred tax assets and a $4 million reduction to retained earnings as of August 1, 2016. Accounting Standards Not Yet Adopted Standard/Description Effective Date and Adoption Considerations Effect on Financial Statements Goodwill Impairment - In January 2017 the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2017-04, “ Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” This new standard eliminates Step 2 from the goodwill impairment test. Instead, an entity should compare the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The standard is effective for fiscal years beginning after December 15, 2019, 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, 2020. Early adoption is permitted. We are currently evaluating the impact of our pending adoption of ASU 2017-04 on our consolidated financial statements. Business Combinations - In January 2017 the FASB issued ASU 2017-01, “ Business Combinations (Topic 805): Clarifying the Definition of a Business . ” This new standard clarifies the definition of a business in order to allow for the evaluation of whether transactions should be accounted for as acquisitions or disposals of assets or businesses. The standard is effective for fiscal years beginning after December 15, 2017, 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, 2018. Early adoption is permitted. We are currently evaluating the impact of our pending adoption of ASU 2017-01 on our consolidated financial statements. Accounting Standards Not Yet Adopted (continued) Standard/Description Effective Date and Adoption Considerations Effect on Financial Statements Statement of Cash Flows - In August 2016 the FASB issued ASU 2016-15, “ Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments.” This new standard will make eight targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows. The standard is effective for fiscal years 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. The standard will require adoption on a retrospective basis unless it is impracticable to apply, in which case we would be required to apply the amendments prospectively as of the earliest date practicable. We are currently evaluating the impact of our pending adoption of ASU 2016-15 on our consolidated financial statements. Financial Instruments - In June 2016 the FASB issued ASU 2016-13, “ Financial Instruments—Credit Losses (Topic 326). ” This new standard requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The standard is effective for fiscal years beginning after December 15, 2019, 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, 2020. Earlier adoption is permitted in the first quarter of our fiscal year beginning August 1, 2019. We are currently evaluating the impact of our pending adoption of ASU 2016-13 on our consolidated financial statements. Leases - In February 2016 the FASB issued ASU 2016-02, “ Leases (Topic 842). ” This new standard 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. The standard 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 standard 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. Revenue Recognition - 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. This new standard supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of the standard 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. The standard 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 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. The standard 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 one year prior to the required effective date is permitted. The standard 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 the standard 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.
Fair Value Measurements	2. 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

Description of Business and S19

Description of Business and Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Apr. 30, 2017
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 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 $ 964 $ 848 $ 947 $ 846 Net income from discontinued operations — 178 — 173 Net income $ 964 $ 1,026 $ 947 $ 1,019 Denominator: Shares used in basic per share amounts: Weighted average common shares outstanding 256 257 257 264 Shares used in diluted per share amounts: Weighted average common shares outstanding 256 257 257 264 Dilutive common equivalent shares from stock options and restricted stock awards 4 3 4 3 Dilutive weighted average common shares outstanding 260 260 261 267 Basic and diluted net income per share: Basic net income per share from continuing operations $ 3.76 $ 3.30 $ 3.68 $ 3.21 Basic net income per share from discontinued operations — 0.70 — 0.65 Basic net income per share $ 3.76 $ 4.00 $ 3.68 $ 3.86 Diluted net income per share from continuing operations $ 3.70 $ 3.26 $ 3.63 $ 3.17 Diluted net income per share from discontinued operations — 0.68 — 0.64 Diluted net income per share $ 3.70 $ 3.94 $ 3.63 $ 3.81 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 3 2 4 2
Schedule of new accounting pronouncements and changes in accounting principles	Accounting Standards Recently Adopted Standard/Description Effective Date and Adoption Considerations Effect on Financial Statements Stock Compensation - In March 2016 the FASB issued ASU 2016-09, “ Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. ” As required by ASU 2016-09, excess tax benefits recognized on stock-based compensation expense are reflected in our condensed consolidated statements of operations as a component of the provision for income taxes on a prospective basis. Excess tax benefits are classified as an operating activity in our condensed consolidated statements of cash flows and we have applied this provision on a retrospective basis. We elected to early adopt this standard in the first quarter of our fiscal year that began August 1, 2016. For the three and nine months ended April 30, 2017, we recognized excess tax benefits of $12 million and $38 million in our provision for income taxes. For the nine months ended April 30, 2016, net cash provided by operating activities increased by $30 million with a corresponding offset to net cash used in financing activities. In addition, we have elected to account for forfeitures as they occur, rather than estimate expected forfeitures over the course of a vesting period. As a result of the adoption of ASU 2016-09, we recognized the net cumulative effect of this change as a $6 million increase to additional paid-in capital, a $2 million increase to deferred tax assets and a $4 million reduction to retained earnings as of August 1, 2016. Accounting Standards Not Yet Adopted Standard/Description Effective Date and Adoption Considerations Effect on Financial Statements Goodwill Impairment - In January 2017 the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2017-04, “ Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” This new standard eliminates Step 2 from the goodwill impairment test. Instead, an entity should compare the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The standard is effective for fiscal years beginning after December 15, 2019, 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, 2020. Early adoption is permitted. We are currently evaluating the impact of our pending adoption of ASU 2017-04 on our consolidated financial statements. Business Combinations - In January 2017 the FASB issued ASU 2017-01, “ Business Combinations (Topic 805): Clarifying the Definition of a Business . ” This new standard clarifies the definition of a business in order to allow for the evaluation of whether transactions should be accounted for as acquisitions or disposals of assets or businesses. The standard is effective for fiscal years beginning after December 15, 2017, 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, 2018. Early adoption is permitted. We are currently evaluating the impact of our pending adoption of ASU 2017-01 on our consolidated financial statements. Accounting Standards Not Yet Adopted (continued) Standard/Description Effective Date and Adoption Considerations Effect on Financial Statements Statement of Cash Flows - In August 2016 the FASB issued ASU 2016-15, “ Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments.” This new standard will make eight targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows. The standard is effective for fiscal years 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. The standard will require adoption on a retrospective basis unless it is impracticable to apply, in which case we would be required to apply the amendments prospectively as of the earliest date practicable. We are currently evaluating the impact of our pending adoption of ASU 2016-15 on our consolidated financial statements. Financial Instruments - In June 2016 the FASB issued ASU 2016-13, “ Financial Instruments—Credit Losses (Topic 326). ” This new standard requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The standard is effective for fiscal years beginning after December 15, 2019, 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, 2020. Earlier adoption is permitted in the first quarter of our fiscal year beginning August 1, 2019. We are currently evaluating the impact of our pending adoption of ASU 2016-13 on our consolidated financial statements. Leases - In February 2016 the FASB issued ASU 2016-02, “ Leases (Topic 842). ” This new standard 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. The standard 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 standard 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. Revenue Recognition - 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. This new standard supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of the standard 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. The standard 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 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. The standard 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 one year prior to the required effective date is permitted. The standard 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 the standard 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.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Apr. 30, 2017
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, 2017 July 31, 2016 (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 $ 630 $ — $ — $ 630 $ 416 $ — $ — $ 416 Available-for-sale debt securities: Municipal bonds — 85 — 85 — 186 — 186 Corporate notes — 358 — 358 — 420 — 420 U.S. agency securities — — — — — 36 — 36 Municipal auction rate securities — — 15 15 — — 15 15 Total available-for-sale securities — 443 15 458 — 642 15 657 Total assets measured at fair value on a recurring basis $ 630 $ 443 $ 15 $ 1,088 $ 416 $ 642 $ 15 $ 1,073 Liabilities: Senior notes (1) $ — $ — $ — $ — $ — $ 515 $ — $ 515 ______________________________ (1) Carrying value on our balance sheet at July 31, 2016 was $500 million . See Note 5, “Current Liabilities – Short-Term Debt,”
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, 2017 July 31, 2016 (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 $ 630 $ — $ — $ 630 $ 312 $ — $ — $ 312 In funds held for customers — — — — 104 — — 104 Total cash equivalents $ 630 $ — $ — $ 630 $ 416 $ — $ — $ 416 Available-for-sale securities: In investments $ — $ 243 $ — $ 243 $ — $ 442 $ — $ 442 In funds held for customers — 200 — 200 — 200 — 200 In long-term investments — — 15 15 — — 15 15 Total available-for-sale securities $ — $ 443 $ 15 $ 458 $ — $ 642 $ 15 $ 657

Cash and Cash Equivalents, In21

Cash and Cash Equivalents, Investments and Funds Held for Customers (Tables)	9 Months Ended
	Apr. 30, 2017
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, 2017 July 31, 2016 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value Classification on balance sheets: Cash and cash equivalents $ 1,350 $ 1,350 $ 638 $ 638 Investments 243 243 441 442 Funds held for customers 323 323 304 304 Long-term investments 28 28 28 28 Total cash and cash equivalents, investments, and funds held for customers $ 1,944 $ 1,944 $ 1,411 $ 1,412
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, 2017 July 31, 2016 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value Type of issue: Total cash and cash equivalents $ 1,473 $ 1,473 $ 742 $ 742 Available-for-sale debt securities: Municipal bonds 85 85 186 186 Corporate notes 358 358 419 420 U.S. agency securities — — 36 36 Municipal auction rate securities 15 15 15 15 Total available-for-sale debt securities 458 458 656 657 Other long-term investments 13 13 13 13 Total cash and cash equivalents, investments, and funds held for customers $ 1,944 $ 1,944 $ 1,411 $ 1,412
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, 2017 July 31, 2016 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value Due within one year $ 184 $ 184 $ 285 $ 285 Due within two years 180 180 209 210 Due within three years 71 71 143 143 Due after three years 23 23 19 19 Total available-for-sale debt securities $ 458 $ 458 $ 656 $ 657

Current Liabilities (Tables)

Current Liabilities (Tables)	9 Months Ended
	Apr. 30, 2017
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 $ 41 $ 7 Reserve for rebates 34 14 Current portion of license fee payable 10 10 Current portion of deferred rent 6 6 Interest payable 1 11 Amounts due for share repurchases 5 — Executive deferred compensation plan liabilities 80 69 Other 45 40 Total other current liabilities $ 222 $ 157

Long-Term Obligations and Com23

Long-Term Obligations and Commitments (Tables)	9 Months Ended
	Apr. 30, 2017
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 $ 51 $ 56 Total license fee payable 28 26 Long-term income tax liabilities 60 54 Long-term deferred income tax liabilities 6 7 Other 22 20 Total long-term obligations 167 163 Less current portion (included in other current liabilities) (17 ) (17 ) Long-term obligations due after one year $ 150 $ 146

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Apr. 30, 2017
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 $ 6 Selling and marketing 19 18 66 55 Research and development 24 21 89 63 General and administrative 26 24 80 73 Total share-based compensation expense $ 71 $ 65 $ 241 $ 197
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, 2017 was as follows: (Shares in thousands) Shares Available for Grant Balance at July 31, 2016 8,990 Additional shares authorized 23,110 Options granted (16 ) Restricted stock units granted (1) (1,882 ) Share-based awards canceled/forfeited/expired (1)(2) 3,178 Balance at April 30, 2017 33,380 ____________________________________________________ (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)
Summary of stock option activity	A summary of stock option activity for the nine months ended April 30, 2017 was as follows: Options Outstanding (Shares in thousands) Number of Shares Weighted Average Exercise Price Per Share Balance at July 31, 2016 8,346 $ 88.55 Granted 16 116.47 Exercised (1,418 ) 68.59 Canceled or expired (408 ) 104.51 Balance at April 30, 2017 6,536 $ 91.95 Exercisable at April 30, 2017 3,311 $ 75.12
Summary of restricted stock unit activity	A summary of restricted stock unit (RSU) activity for the nine months ended April 30, 2017 was as follows: Restricted Stock Units (Shares in thousands) Number of Shares Weighted Average Grant Date Fair Value Nonvested at July 31, 2016 9,039 $ 82.30 Granted 819 113.78 Vested (1,333 ) 65.82 Forfeited (1,167 ) 74.41 Nonvested at April 30, 2017 7,358 $ 90.04

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Apr. 30, 2017
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 and sold during fiscal 2016. 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 $ 671 $ 580 $ 1,909 $ 1,690 Consumer Tax 1,754 1,598 2,099 1,930 ProConnect 116 126 327 320 Total net revenue $ 2,541 $ 2,304 $ 4,335 $ 3,940 Operating income from continuing operations: Small Business $ 277 $ 223 $ 758 $ 643 Consumer Tax 1,428 1,293 1,444 1,328 ProConnect 73 86 193 199 Total segment operating income 1,778 1,602 2,395 2,170 Unallocated corporate items: Share-based compensation expense (71 ) (65 ) (241 ) (197 ) Other common expenses (259 ) (244 ) (738 ) (652 ) Amortization of acquired technology (3 ) (5 ) (9 ) (17 ) Amortization of other acquired intangible assets (1 ) (3 ) (2 ) (6 ) Total unallocated corporate items (334 ) (317 ) (990 ) (872 ) Total operating income from continuing operations $ 1,444 $ 1,285 $ 1,405 $ 1,298

Description of Business and S26

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, 2017USD ($)customer$ / sharesshares	Apr. 30, 2016USD ($)customer$ / sharesshares	Apr. 30, 2017USD ($)customer$ / sharesshares	Apr. 30, 2016USD ($)customer$ / sharesshares	Jul. 31, 2016customer
Numerator:
Net income from continuing operations | $	$ 964	$ 848	$ 947	$ 846
Net income from discontinued operations | $	0	178	0	173
Net income | $	$ 964	$ 1,026	$ 947	$ 1,019
Shares used in basic per share amounts:
Weighted average common shares outstanding | shares	256	257	257	264
Shares used in diluted per share amounts:
Weighted average common shares outstanding | shares	256	257	257	264
Dilutive common equivalent shares from stock options and restricted stock awards (in shares) | shares	4	3	4	3
Dilutive weighted average common shares outstanding (in shares) | shares	260	260	261	267
Basic and diluted net income per share:
Basic net income per share from continuing operations (in USD per share)	$ 3.76	$ 3.30	$ 3.68	$ 3.21
Basic net income per share from discontinued operations (in USD per share)	0	0.70	0	0.65
Basic net income per share (in USD per share)	3.76	4	3.68	3.86
Diluted net income per share from continuing operations (in USD per share)	3.70	3.26	3.63	3.17
Diluted net income per share from discontinued operations (in USD per share)	0	0.68	0	0.64
Diluted net income per share (in USD per share)	$ 3.70	$ 3.94	$ 3.63	$ 3.81
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	3	2	4	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

Description of Business and S27

Description of Business and Summary of Significant Accounting Policies Accounting Pronouncements (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Apr. 30, 2017	Apr. 30, 2017	Apr. 30, 2016	Aug. 01, 2016	Jul. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Excess tax benefit recognized	$ 12	$ 38
Net cash provided by operating activities		1,889	$ 1,741
Net cash used in financing activities		$ (1,149)	(1,844)
Cumulative effect of change in accounting principle					$ 2
New Accounting Pronouncement, Early Adoption, Effect | Accounting Standards Update 2016-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net cash provided by operating activities			30
Net cash used in financing activities			$ (30)
Deferred income tax assets, net				$ 2
Additional Paid-in Capital | New Accounting Pronouncement, Early Adoption, Effect | Accounting Standards Update 2016-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of change in accounting principle				6
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of change in accounting principle					$ (4)
Retained Earnings | New Accounting Pronouncement, Early Adoption, Effect | Accounting Standards Update 2016-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of change in accounting principle				$ (4)

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions		Apr. 30, 2017	Jul. 31, 2016
Liabilities:
Long-term debt			$ 500
Fair value, measurements, recurring | Estimate of fair value measurement
Assets:
Total cash equivalents		$ 630	416
Available-for-sale debt securities:
Total assets measured at fair value on a recurring basis		1,088	1,073
Liabilities:
Senior notes	[1]	0	515
Fair value, measurements, recurring | Estimate of fair value measurement | Municipal bonds
Available-for-sale debt securities:
Total available-for-sale securities		85	186
Fair value, measurements, recurring | Estimate of fair value measurement | Corporate notes
Available-for-sale debt securities:
Total available-for-sale securities		358	420
Fair value, measurements, recurring | Estimate of fair value measurement | U.S. agency securities
Available-for-sale debt securities:
Total available-for-sale securities		0	36
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		458	657
Fair value, measurements, recurring | Level 1
Assets:
Total cash equivalents		630	416
Available-for-sale debt securities:
Total assets measured at fair value on a recurring basis		630	416
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		443	642
Liabilities:
Senior notes	[1]	0	515
Fair value, measurements, recurring | Level 2 | Municipal bonds
Available-for-sale debt securities:
Total available-for-sale securities		85	186
Fair value, measurements, recurring | Level 2 | Corporate notes
Available-for-sale debt securities:
Total available-for-sale securities		358	420
Fair value, measurements, recurring | Level 2 | U.S. agency securities
Available-for-sale debt securities:
Total available-for-sale securities		0	36
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		443	642
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 sheet at July 31, 2016 was $500 million . See Note 5, “Current Liabilities – Short-Term Debt,”

Fair Value Measurements Balance

Fair Value Measurements Balance Sheet Classification (Details ) - USD ($) $ in Millions	Apr. 30, 2017	Jul. 31, 2016
Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	$ 1,350	$ 638
Fair value, measurements, recurring | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	630	416
Total available-for-sale securities	458	657
Fair value, measurements, recurring | Cash and cash equivalents | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	630	312
Fair value, measurements, recurring | Cash equivalents in funds held for customers | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	104
Fair value, measurements, recurring | Available for sale debt securities in investments | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total available-for-sale securities	243	442
Fair value, measurements, recurring | Available for sale debt securities in funds held for customers | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total available-for-sale securities	200	200
Fair value, measurements, recurring | Available for sale debt securities in long term investments | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total available-for-sale securities	15	15
Fair value, measurements, recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	630	416
Total available-for-sale securities	0	0
Fair value, measurements, recurring | Level 1 | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	630	312
Fair value, measurements, recurring | Level 1 | Cash equivalents in funds held for customers
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	104
Fair value, measurements, recurring | Level 1 | Available for sale debt securities in investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total available-for-sale securities	0	0
Fair value, measurements, recurring | Level 1 | Available for sale debt securities in funds held for customers
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total available-for-sale securities	0	0
Fair value, measurements, recurring | Level 1 | Available for sale debt securities in long term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total available-for-sale securities	0	0
Fair value, measurements, recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Total available-for-sale securities	443	642
Fair value, measurements, recurring | Level 2 | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Fair value, measurements, recurring | Level 2 | Cash equivalents in funds held for customers
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Fair value, measurements, recurring | Level 2 | Available for sale debt securities in investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total available-for-sale securities	243	442
Fair value, measurements, recurring | Level 2 | Available for sale debt securities in funds held for customers
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total available-for-sale securities	200	200
Fair value, measurements, recurring | Level 2 | Available for sale debt securities in long term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total available-for-sale securities	0	0
Fair value, measurements, recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Total available-for-sale securities	15	15
Fair value, measurements, recurring | Level 3 | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Fair value, measurements, recurring | Level 3 | Cash equivalents in funds held for customers
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Fair value, measurements, recurring | Level 3 | Available for sale debt securities in investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total available-for-sale securities	0	0
Fair value, measurements, recurring | Level 3 | Available for sale debt securities in funds held for customers
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total available-for-sale securities	0	0
Fair value, measurements, recurring | Level 3 | Available for sale debt securities in long term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
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, 2017	Jul. 31, 2016	Apr. 30, 2016	Jul. 31, 2015
Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents, amortized cost	$ 1,350	$ 638	$ 1,289	$ 808
Total cash and cash equivalents, investments, and funds held for customers, Amortized Cost	1,944	1,411
Total cash and cash equivalents, investments, and funds held for customers, Fair Value	1,944	1,412
Cash and cash equivalents
Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents, amortized cost	1,350	638
Cash and cash equivalents, fair value disclosure	1,350	638
Investments
Cash and Cash Equivalents Items [Line Items]
Investments and funds, amortized cost	243	441
Investments and funds, fair value	243	442
Funds held for customers
Cash and Cash Equivalents Items [Line Items]
Investments and funds, amortized cost	323	304
Investments and funds, fair value	323	304
Long-term investments
Cash and Cash Equivalents Items [Line Items]
Investments and funds, amortized cost	28	28
Investments and funds, fair value	$ 28	$ 28

Cash and Cash Equivalents, In31

Cash and Cash Equivalents, Investments and Funds Held for Customers Type of issue (Details) - USD ($) $ in Millions	Apr. 30, 2017	Jul. 31, 2016	Apr. 30, 2016	Jul. 31, 2015
Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents, amortized cost	$ 1,350	$ 638	$ 1,289	$ 808
Available-for-sale securities:
Total cash and cash equivalents, investments, and funds held for customers, Amortized Cost	1,944	1,411
Total cash and cash equivalents, investments, and funds held for customers, Fair Value	1,944	1,412
Total cash and cash equivalents
Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents, amortized cost	1,473	742
Cash and cash equivalents, fair value disclosure	1,473	742
Municipal bonds
Available-for-sale securities:
Investments and funds, amortized cost	85	186
Investments and funds, fair value	85	186
Corporate notes
Available-for-sale securities:
Investments and funds, amortized cost	358	419
Investments and funds, fair value	358	420
U.S. agency securities
Available-for-sale securities:
Investments and funds, amortized cost	0	36
Investments and funds, fair value	0	36
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	458	656
Investments and funds, fair value	458	657
Other long-term investments
Available-for-sale securities:
Other long-term investments	13	13
Investments and funds, fair value	$ 13	$ 13

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, 2017	Jul. 31, 2016
Available-for-sale Securities, Debt Maturities
Due within one year, amortized cost	$ 184	$ 285
Due within one year, fair value	184	285
Due within two years, amortized cost	180	209
Due within two years, fair value	180	210
Due within three years, amortized cost	71	143
Due within three years, fair value	71	143
Due after three years, amortized cost	23	19
Due after three years, fair value	23	19
Total available-for-sale debt securities, amortized cost	458	656
Total available-for-sale debt securities, fair value	$ 458	$ 657

Discontinued Operations Net Inc

Discontinued Operations Net Income (Loss) from Discontinued Operations (Details) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Apr. 30, 2017USD ($)	Apr. 30, 2016USD ($)	Apr. 30, 2017USD ($)	Apr. 30, 2016USD ($)	Jul. 31, 2016USD ($)business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax gain on sale of discontinued operations			$ 0	$ 354
Net revenue from discontinued operations		$ 22		137
Net income from discontinued operations	$ 0	$ 178	$ 0	$ 173
Demandforce, QuickBase, and Quicken
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of businesses disposed | business					3
Discontinued Operations, Disposed of by Sale | Demandforce, QuickBase, and Quicken
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture of businesses, net of cash divested					$ 463
Pre-tax gain on sale of discontinued operations					354
Net gain on disposal					$ 173

Current Liabilities (Details)

Current Liabilities (Details)	Feb. 01, 2016USD ($)	Apr. 30, 2017USD ($)	Apr. 30, 2016USD ($)	Jul. 31, 2016USD ($)
Debt Instrument [Line Items]
Short-term debt		$ 50,000,000		$ 512,000,000
Proceeds from borrowings under revolving credit facilities		150,000,000	$ 995,000,000
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Cash paid for interest			2,000,000
Term Loan
Debt Instrument [Line Items]
Cash paid for interest		7,000,000	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%
Cash paid for interest		29,000,000	$ 29,000,000
February 1, 2016 Credit Agreement
Debt Instrument [Line Items]
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
February 1, 2016 Credit Agreement | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Cash paid for interest		1,000,000
Unsecured revolving credit facility	$ 1,000,000,000
Revolving credit facility, increase limit	$ 250,000,000
Unsecured revolving credit facility extension	2
Proceeds from borrowings under revolving credit facilities		150,000,000
Fair value of amount outstanding		0
February 1, 2016 Credit Agreement | Term Loan | Line of Credit
Debt Instrument [Line Items]
Unsecured term loan	$ 500,000,000	500,000,000
Short-term debt		$ 50,000,000
Base Rate | February 1, 2016 Credit Agreement | Revolving Credit Facility | Line of Credit | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.00%
Base Rate | February 1, 2016 Credit Agreement | Revolving Credit Facility | Line of Credit | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Base Rate | February 1, 2016 Credit Agreement | Term Loan | Line of Credit | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.125%
Base Rate | February 1, 2016 Credit Agreement | Term Loan | Line of Credit | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	0.875%
LIBOR | February 1, 2016 Credit Agreement | Revolving Credit Facility | Line of Credit | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.90%
LIBOR | February 1, 2016 Credit Agreement | Revolving Credit Facility | Line of Credit | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
LIBOR | February 1, 2016 Credit Agreement | Term Loan | Line of Credit | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.125%
LIBOR | February 1, 2016 Credit Agreement | Term Loan | Line of Credit | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.875%

Other Current Liabilities (Deta

Other Current Liabilities (Details) - USD ($) $ in Millions	Apr. 30, 2017	Jul. 31, 2016
Other Liabilities, Current [Abstract]
Reserve for product returns	$ 41	$ 7
Reserve for rebates	34	14
Current portion of license fee payable	10	10
Current portion of deferred rent	6	6
Interest payable	1	11
Amounts due for share repurchases	5	0
Executive deferred compensation plan liabilities	80	69
Other	45	40
Total other current liabilities	$ 222	$ 157

Long-Term Obligations and Com36

Long-Term Obligations and Commitments (Details)	Feb. 01, 2016USD ($)	Apr. 30, 2017USD ($)	Apr. 30, 2016USD ($)	Jul. 31, 2016USD ($)
Debt Instrument [Line Items]
Long-term debt		$ 450,000,000		$ 488,000,000
Long Term Obligations (Textuals)
Short-term debt		50,000,000		512,000,000
Other long-term obligations
Total deferred rent		51,000,000		56,000,000
Total license fee payable		28,000,000		26,000,000
Long-term income tax liabilities		60,000,000		54,000,000
Long-term deferred income tax liabilities		6,000,000		7,000,000
Other		22,000,000		20,000,000
Total long-term obligations		167,000,000		163,000,000
Less current portion (included in other current liabilities)		(17,000,000)		(17,000,000)
Long-term obligations due after one year		150,000,000		$ 146,000,000
Term Loan
Long Term Obligations (Textuals)
Cash paid for interest		7,000,000	$ 1,000,000
Line of Credit | Revolving Credit Facility
Long Term Obligations (Textuals)
Cash paid for interest			$ 2,000,000
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
Long Term Obligations (Textuals)
Unsecured term loan	$ 500,000,000	500,000,000
Short-term debt		50,000,000
Term loan, increase limit	$ 500,000,000
February 1, 2016 Credit Agreement | Line of Credit | Revolving Credit Facility
Long Term Obligations (Textuals)
Cash paid for interest		$ 1,000,000
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, 2017	Apr. 30, 2016	Jan. 31, 2016	Apr. 30, 2017	Apr. 30, 2016	Jul. 31, 2016
Income Tax Disclosure [Abstract]
Discrete tax benefit due to changes in federal tax law			$ 12
Effective tax rate	33.00%	34.00%		31.00%	33.00%
Effective income tax rate reconciliation, excluding discrete tax benefits, percent	34.00%			34.00%
Federal statutory income tax rate	35.00%	35.00%		35.00%	35.00%
Total amount of unrecognized tax benefits						$ 60
Unrecognized tax benefits, net of related deferred tax assets						40
Favorable net impact to income tax expense due to recognition of tax benefits						$ 40

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, 2017	Apr. 30, 2017	Apr. 30, 2016	Apr. 30, 2017	Apr. 30, 2016	Jul. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock repurchased (in shares)				4.2	24.1
Common stock repurchased, value				$ 478	$ 2,190
Amounts due for share repurchases		$ 5		$ 5		$ 0
Common stock, dividends, per share, cash paid (in USD per share)				$ 1.02
Payments of dividends				$ 265
Cash dividends declared per common share (in USD per share)		$ 0.34	$ 0.30	$ 1.02	$ 0.90
Allocated share-based compensation expense		$ 71	$ 65	$ 241	$ 197
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested share based compensation expense		49		$ 49
Expected weighted average vesting period to recognize compensation cost related to share based compensation expense, in years				1 year 10 months 24 days
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		415		$ 415
Expected weighted average vesting period to recognize compensation cost related to share based compensation expense, in years				2 years
Discontinued Operations, Disposed of by Sale
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense					3
Software and Software Development Costs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Capitalized computer software, gross				$ 6	$ 5
Subsequent event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash dividends declared per common share (in USD per share)	$ 0.34
New Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, remaining authorized repurchase amount		$ 1,900		$ 1,900

Stockholders' Equity Share-Base

Stockholders' Equity Share-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2017	Apr. 30, 2016	Apr. 30, 2017	Apr. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 71	$ 65	$ 241	$ 197
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	2	2	6	6
Selling and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	19	18	66	55
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	24	21	89	63
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 26	$ 24	$ 80	$ 73

Stockholders' Equity Share-Ba40

Stockholders' Equity Share-Based Awards Available for Grant (Details)	9 Months Ended
	Apr. 30, 2017shares
Shares Available for Grant
Shares available for grant, beginning balance (in shares)	8,990,000
Additional shares authorized	23,110,000
Options granted (in shares)	(16,000)
Restricted stock units granted (in shares)	(1,882,000)	[1]
Share-based awards canceled/forfeited/expired (in shares)	3,178,000	[1],[2]
Shares available for grant, ending balance (in shares)	33,380,000
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
[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. Shares withheld for income taxes upon vesting of restricted stock units that were granted on or after July 21, 2016 are also 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

Stockholders' Equity Stock-Opti

Stockholders' Equity Stock-Option Activity and Related Share-Based Compensation Expense (Details) shares in Thousands	9 Months Ended
	Apr. 30, 2017$ / sharesshares
Number of Shares
Options outstanding, beginning balance (in shares) | shares	8,346
Options granted, number of shares (in shares) | shares	16
Options exercised, number of shares (in shares) | shares	(1,418)
Options canceled or expired, number of shares (in shares) | shares	(408)
Options outstanding, ending balance (in shares) | shares	6,536
Weighted Average Exercise Price Per Share
Weighted average exercise price per share, Beginning Balance (in USD per share) | $ / shares	$ 88.55
Options granted, weighted average exercise price per share (in USD per share) | $ / shares	116.47
Options exercised, weighted average exercise price per share (in USD per share) | $ / shares	68.59
Options canceled or expired, weighted average exercise price per share (in USD per share) | $ / shares	104.51
Weighted average exercise price per share, Ending Balance (in USD per share) | $ / shares	$ 91.95
Exercisable (in shares) | shares	3,311
Exercisable, Weighted average exercise price per share (in USD per share) | $ / shares	$ 75.12

Stockholders' Equity Restricted

Stockholders' Equity Restricted Stock Unit Activity and Related Share-Based Compensation Expense (Details) shares in Thousands	9 Months Ended
	Apr. 30, 2017$ / sharesshares
Number of Shares
Nonvested at beginning of period (in shares) | shares	9,039
Granted, Number of shares (in shares) | shares	819
Vested, Number of Shares (in shares) | shares	(1,333)
Forfeited, Number of Shares (in shares) | shares	(1,167)
Nonvested at end of period (in shares) | shares	7,358
Weighted Average Grant Date Fair Value
Nonvested, Weighted Average Grant Date Fair Value, at beginning of period (in USD per shares) | $ / shares	$ 82.30
Granted, Weighted Average Grant Date Fair Value (in USD per shares) | $ / shares	113.78
Vested, Weighted Average Grant Date Fair Value (in USD per shares) | $ / shares	65.82
Forfeited, Weighted Average Grant Date Fair Value (in USD per shares) | $ / shares	74.41
Nonvested, Weighted Average Grant Date Fair Value, at end of period (in USD per shares) | $ / shares	$ 90.04

Segment Information (Details)

Segment Information (Details) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2017USD ($)	Apr. 30, 2016USD ($)	Apr. 30, 2017USD ($)segment	Apr. 30, 2016USD ($)
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	$ 2,541	$ 2,304	$ 4,335	$ 3,940
Total operating income from continuing operations	1,444	1,285	1,405	1,298
Unallocated corporate items:
Share-based compensation expense			(241)	(200)
Amortization of other acquired intangible assets	(1)	(3)	(2)	(6)
Operating Segments
Financial results by reportable segment
Total operating income from continuing operations	1,778	1,602	2,395	2,170
Corporate, Non-Segment
Financial results by reportable segment
Total operating income from continuing operations	(334)	(317)	(990)	(872)
Unallocated corporate items:
Share-based compensation expense	(71)	(65)	(241)	(197)
Other common expenses	(259)	(244)	(738)	(652)
Corporate, Non-Segment | Technology-Based Intangible Assets
Unallocated corporate items:
Amortization of other acquired intangible assets	(3)	(5)	(9)	(17)
Corporate, Non-Segment | Other Intangible Assets
Unallocated corporate items:
Amortization of other acquired intangible assets	(1)	(3)	(2)	(6)
Small Business
Financial results by reportable segment
Total net revenue	671	580	1,909	1,690
Small Business | Operating Segments
Financial results by reportable segment
Total operating income from continuing operations	277	223	758	643
Consumer Tax
Financial results by reportable segment
Total net revenue	1,754	1,598	2,099	1,930
Consumer Tax | Operating Segments
Financial results by reportable segment
Total operating income from continuing operations	1,428	1,293	1,444	1,328
ProConnect
Financial results by reportable segment
Total net revenue	116	126	327	320
ProConnect | Operating Segments
Financial results by reportable segment
Total operating income from continuing operations	$ 73	$ 86	$ 193	$ 199