Intuit (INTU) 10-K 31 Aug 20 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Jul. 31, 2020	Aug. 24, 2020	Jan. 31, 2019
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jul. 31, 2020
Document Transition Report	false
Entity File Number	0-21180
Entity Registrant Name	INTUIT INC
Entity Central Index Key	0000896878
Current Fiscal Year End Date	--07-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0034661
Entity Address, Address Line One	2700 Coast Avenue
Entity Address, City or Town	Mountain View
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94043
City Area Code	650
Local Phone Number	944-6000
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	INTU
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 70.6
Entity Common Stock, Shares Outstanding		261,807,204
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement for its Annual Meeting of Stockholders to be held on January 21, 2021 are incorporated by reference in Part III of this Annual Report on Form 10-K.

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Net revenue:
Total net revenue	$ 7,679	$ 6,784	$ 6,025
Cost of revenue:
Amortization of acquired technology	22	20	15
Selling and marketing	2,048	1,927	1,631
Research and development	1,392	1,233	1,186
General and administrative	679	597	664
Amortization of other acquired intangible assets	6	6	6
Total costs and expenses	5,503	4,930	4,465
Operating income	2,176	1,854	1,560
Interest expense	(14)	(15)	(20)
Interest and other income, net	36	42	26
Income before income taxes	2,198	1,881	1,566
Income tax provision	372	324	237
Net income	$ 1,826	$ 1,557	$ 1,329
Basic net income per share (in dollars per share)	$ 6.99	$ 5.99	$ 5.18
Shares used in basic per share calculations (in shares)	261	260	256
Diluted net income per share (in dollars per share)	$ 6.92	$ 5.89	$ 5.09
Shares used in diluted per share calculations (in shares)	264	264	261
Cash dividends declared per common share (in dollars per share)	$ 2.12	$ 1.88	$ 1.56
Product
Net revenue:
Total net revenue	$ 1,635	$ 1,623	$ 1,624
Cost of revenue:
Cost of revenue	72	77	82
Service and other
Net revenue:
Total net revenue	6,044	5,161	4,401
Cost of revenue:
Cost of revenue	$ 1,284	$ 1,070	$ 881

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 1,826	$ 1,557	$ 1,329
Other comprehensive income (loss), net of income taxes:
Unrealized gain (loss) on available-for-sale debt securities	5	3	(2)
Foreign currency translation loss	(1)	(3)	(12)
Total other comprehensive income (loss), net	4	0	(14)
Comprehensive income	$ 1,830	$ 1,557	$ 1,315

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jul. 31, 2020	Jul. 31, 2019
Current assets:
Cash and cash equivalents	$ 6,442	$ 2,116
Investments	608	624
Accounts receivable, net of allowance for doubtful accounts of $12 and $3	149	87
Income taxes receivable	12	65
Prepaid expenses and other current assets	314	266
Current assets before funds held for customers	7,525	3,158
Funds held for customers	455	436
Total current assets	7,980	3,594
Long-term investments	19	13
Property and equipment, net	734	780
Operating lease right-of-use assets	226
Goodwill	1,654	1,655
Acquired intangible assets, net	28	54
Long-term deferred income taxes	65	1
Other assets	225	186
Total assets	10,931	6,283
Current liabilities:
Short-term debt	1,338	50
Accounts payable	305	274
Accrued compensation and related liabilities	482	385
Deferred revenue	652	619
Other current liabilities	297	202
Current liabilities before customer fund deposits	3,074	1,530
Customer fund deposits	455	436
Total current liabilities	3,529	1,966
Long-term debt	2,031	386
Long-term deferred income tax liabilities	2	37
Operating lease liabilities	221
Other long-term obligations	42	145
Total liabilities	5,825	2,534
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value Authorized - 1,345 shares total; 145 shares designated Series A; 250 shares designated Series B Junior Participating Issued and outstanding - None	0	0
Common stock, $0.01 par value Authorized - 750,000 shares Outstanding - 261,740 shares at July 31, 2020 and 260,180 shares at July 31, 2019	3	3
Additional paid-in capital	6,179	5,772
Treasury stock, at cost	(11,929)	(11,611)
Accumulated other comprehensive loss	(32)	(36)
Retained earnings	10,885	9,621
Total stockholders’ equity	5,106	3,749
Total liabilities and stockholders’ equity	$ 10,931	$ 6,283

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jul. 31, 2020	Jul. 31, 2019
Allowance for doubtful accounts	$ 12	$ 3
Preferred stock, $0.01 par value Authorized - 1,345 shares total; 145 shares designated Series A; 250 shares designated Series B Junior Participating Issued and outstanding - None
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,345,000	1,345,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, $0.01 par value Authorized - 750,000 shares Outstanding - 261,740 shares at July 31, 2020 and 260,180 shares at July 31, 2019
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	750,000,000	750,000,000
Common stock, shares, outstanding (in shares)	261,740,000	260,180,000
Series A Preferred Stock
Preferred stock, $0.01 par value Authorized - 1,345 shares total; 145 shares designated Series A; 250 shares designated Series B Junior Participating Issued and outstanding - None
Preferred stock, shares authorized (in shares)	145,000	145,000
Series B Preferred Stock
Preferred stock, $0.01 par value Authorized - 1,345 shares total; 145 shares designated Series A; 250 shares designated Series B Junior Participating Issued and outstanding - None
Preferred stock, shares authorized (in shares)	250,000	250,000

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Millions	Total	Common Stock	Additional Paid-In Capital	Treasury Stock	Accumulated Other Comprehensive Loss	Retained Earnings
Beginning balance at Jul. 31, 2017	$ 1,699	$ 3	$ 4,854	$ (10,778)	$ (22)	$ 7,642
Beginning balance (in shares) at Jul. 31, 2017		255,668
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	1,315				(14)	1,329
Issuance of stock under employee stock plans, net of shares withheld for employee taxes	96		96
Issuance of stock under employee stock plans, net of shares withheld for employee taxes (in shares)		4,818
Stock repurchases under stock repurchase programs	(272)			(272)
Stock repurchases under stock repurchase programs (in shares)		(1,870)
Dividends and dividend rights declared	(407)					(407)
Share-based compensation expense	385		385
Ending balance at Jul. 31, 2018	2,816	$ 3	5,335	(11,050)	(36)	8,564
Ending balance (in shares) at Jul. 31, 2018		258,616
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	1,557					1,557
Issuance of stock under employee stock plans, net of shares withheld for employee taxes	32		32
Issuance of stock under employee stock plans, net of shares withheld for employee taxes (in shares)		4,019
Stock repurchases under stock repurchase programs	(561)			(561)
Stock repurchases under stock repurchase programs (in shares)		(2,455)
Dividends and dividend rights declared	(500)					(500)
Share-based compensation expense	405		405
Ending balance at Jul. 31, 2019	$ 3,749	$ 3	5,772	(11,611)	(36)	9,621
Ending balance (in shares) at Jul. 31, 2019	260,180	260,180
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	$ 1,830				4	1,826
Issuance of stock under employee stock plans, net of shares withheld for employee taxes	(31)		(31)
Issuance of stock under employee stock plans, net of shares withheld for employee taxes (in shares)		2,736
Stock repurchases under stock repurchase programs	(318)			(318)
Stock repurchases under stock repurchase programs (in shares)		(1,176)
Dividends and dividend rights declared	(562)					(562)
Share-based compensation expense	438		438
Ending balance at Jul. 31, 2020	$ 5,106	$ 3	$ 6,179	$ (11,929)	$ (32)	$ 10,885
Ending balance (in shares) at Jul. 31, 2020	261,740	261,740

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in dollars per share)	$ 2.12	$ 1.88	$ 1.56

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Cash flows from operating activities:
Net income	$ 1,826	$ 1,557	$ 1,329
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	189	199	228
Amortization of acquired intangible assets	29	26	25
Non-cash operating lease cost	60	0	0
Share-based compensation expense	435	401	382
Loss on sale of long-lived assets	0	0	79
Deferred income taxes	(179)	(7)	(5)
Other	6	15	6
Total adjustments	540	634	715
Originations of loans held for sale	(566)	0	0
Sale and principal payments of loans held for sale	482	0	0
Changes in operating assets and liabilities:
Accounts receivable	(59)	11	5
Income taxes receivable	53	5	(1)
Prepaid expenses and other assets	(31)	(37)	(33)
Accounts payable	33	90	12
Accrued compensation and related liabilities	100	16	75
Deferred revenue	38	39	6
Operating lease liabilities	(61)	0	0
Other liabilities	59	9	4
Total changes in operating assets and liabilities	132	133	68
Net cash provided by operating activities	2,414	2,324	2,112
Cash flows from investing activities:
Purchases of corporate and customer fund investments	(701)	(752)	(407)
Sales of corporate and customer fund investments	130	84	128
Maturities of corporate and customer fund investments	596	303	286
Purchases of property and equipment	(59)	(76)	(38)
Capitalization of internal use software	(78)	(79)	(86)
Acquisitions of businesses, net of cash acquired	0	(64)	(363)
Originations of term loans to small businesses	(243)	(316)	(137)
Principal repayments of term loans from small businesses	287	267	82
Other	(29)	(2)	3
Net cash used in investing activities	(97)	(635)	(532)
Cash flows from financing activities:
Proceeds from issuance of long-term debt, net of discount and issuance costs	1,983	0	0
Proceeds from borrowings under unsecured revolving credit facility	1,000	0	800
Repayments on borrowings under unsecured revolving credit facility	0	0	(800)
Proceeds from borrowings under secured revolving credit facility	0	48	0
Repayment of debt	(50)	(50)	(50)
Proceeds from issuance of stock under employee stock plans	211	284	295
Payments for employee taxes withheld upon vesting of restricted stock units	(244)	(251)	(199)
Cash paid for purchases of treasury stock	(323)	(556)	(272)
Dividends and dividend rights paid	(561)	(501)	(407)
Net change in customer fund deposits	19	69	(5)
Other	(1)	(8)	(1)
Net cash provided by (used in) financing activities	2,034	(965)	(639)
Effect of exchange rates on cash, cash equivalents, restricted cash, and restricted cash equivalents	(6)	(3)	(11)
Net increase in cash, cash equivalents, restricted cash, and restricted cash equivalents	4,345	721	930
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period	2,352	1,631	701
Cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period	6,697	2,352	1,631
Total cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period	6,697	1,631	1,631
Supplemental disclosure of cash flow information:
Interest paid	14	17	19
Income taxes paid	$ 493	$ 325	$ 245

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	12 Months Ended
	Jul. 31, 2020
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 helps consumers, small businesses, and the self-employed prosper by delivering financial management and compliance products and services. We also provide specialized tax products to accounting professionals, who are key partners that help us serve small business customers. Our flagship brands, QuickBooks, TurboTax and Mint, help customers run their small businesses, pay employees and send invoices, separate business and personal expenses, track their money, and file income taxes. ProSeries and Lacerte are our leading 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 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 reclassified certain amounts previously reported in our financial statements to conform to the current presentation. We acquired TSheets.com LLC, Exactor, Inc., and Applatix, Inc. in fiscal 2018. We have included the results of operations for these companies in our consolidated statements of operations from the dates of acquisition. See Note 6 , “ Business Combinations ,” for more information. Effective August 1, 2019, we adopted the requirements of Accounting Standards Update (ASU) 2016-02, "Leases (Topic 842)" (ASC 842) using the modified retrospective approach, under which financial results reported in prior periods were not restated. As a result, the consolidated balance sheet as of July 31, 2020 is not comparable with that as of July 31, 2019 . Funds held for customers represent cash held on behalf of our customers that is invested in cash and cash equivalents and investment-grade available-for-sale debt securities. The purchases, sales and maturities of the investments for our funds held for customers are presented in investing activities in the consolidated statements of cash flows. Customer fund deposits consist of amounts we owe on behalf of our customers. We present the net change in customer fund deposits in financing activities in the consolidated statements of cash flows. For the twelve months ended July 31, 2019 and 2018 , we reclassified $69 million and $5 million , respectively, from investing activities to financing activities to conform to the current presentation, resulting in a decrease in net cash used in financing activities with a corresponding offset to net cash used in investing activities for fiscal 2019 and in an increase in net cash used in financing activities with a corresponding offset to net cash used in investing activities for fiscal 2018. Seasonality Historically, our Consumer and Strategic Partner offerings have had a significant and distinct seasonal pattern as sales and revenue from our income tax preparation products and services are heavily concentrated in the period from November through April. This seasonal pattern has historically resulted in higher net revenues during our second and third quarters ending January 31 and April 30, respectively. In March 2020, as a relief measure in response to the COVID-19 pandemic, the IRS extended the filing deadline for the 2019 tax year from April 15, 2020 to July 15, 2020. Additionally, all states with a personal income tax also extended their due dates, predominantly to July. As a result, there was a shift in sales and revenue from our third fiscal quarter to our fourth fiscal quarter during fiscal 2020. Use of Estimates In preparing our consolidated financial statements in accordance with U.S. generally accepted accounting principles (GAAP), we make certain judgments, estimates, and assumptions that affect the amounts reported in our financial statements and the disclosures made in the accompanying notes. For example, we use judgments and estimates in determining how revenue should be recognized. These judgments and estimates include identifying performance obligations, determining if the performance obligations are distinct, determining the standalone sales price (SSP) and timing of revenue recognition for each distinct performance obligation, and estimating variable consideration to be included in the transaction price. We use estimates in determining the collectibility of accounts receivable and notes receivable, the appropriate levels of various accruals including accruals for litigation contingencies, the discount rate used to calculate lease liabilities, 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. Additionally, in the context of the ongoing global COVID-19 pandemic, while there was no material impact to our estimates in the current period, in future periods, facts and circumstances could change and impact our estimates. Revenue Recognition We derive revenue from the sale of software subscriptions, hosted services, payroll services, merchant payment processing services, packaged software products, live expert advice, financing for small businesses, financial supplies and hardware. We enter into contracts with customers that include promises to transfer various products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Revenue is recognized when the promised goods or services are transferred to customers, in an amount that reflects the consideration allocated to the respective performance obligation. Nature of Products and Services Desktop Offerings Our desktop offerings consist of our QuickBooks Desktop products, which include both packaged software products and software subscriptions, our consumer and professional tax desktop products, which include TurboTax, Lacerte and ProSeries, our desktop payroll products, and merchant payment processing services for small businesses who use our desktop offerings. Our QuickBooks Desktop packaged software products include a perpetual software license as well as enhancements and connected services. We recognize revenue for our QuickBooks Desktop packaged software products at the time the software license is delivered. We have determined that the enhancements and connected services included in our QuickBooks Desktop packaged software products are immaterial within the context of the contract. Our QuickBooks Desktop software subscriptions include a term software license, version protection, enhancements, support and various connected services. We recognize revenue for the software license and version protection at the time they are delivered and recognize revenue for support and connected services over the subscription term as the services are provided. We have determined that the enhancements included in our QuickBooks Desktop software subscriptions are immaterial within the context of the contract. Our consumer and professional tax desktop products include an on-premise tax software license, related tax form updates, electronic filing service and connected services. We recognize revenue for the software license and related tax form updates, as one performance obligation, over the period the forms and updates are delivered. We recognize revenue for our electronic filings service and connected services as those services are provided. We also sell some of our QuickBooks Desktop products and consumer tax desktop products in non-consignment and consignment arrangements to certain retailers. For non-consignment retailers, we begin recognizing revenue when control has transferred to the retailer. For consignment retailers, we begin recognizing revenue when control has transferred to the customer, at the time the end-user sale has occurred. Our desktop payroll products are sold as software subscriptions and include a term software license with a stand-ready obligation to maintain compliance with current payroll tax laws, support and connected services. The term software license and stand-ready obligation to maintain compliance with current payroll tax laws is considered one performance obligation. Each of the performance obligations is considered distinct and control is transferred to the customer over the subscription term. As a result, revenue is recognized ratably over the subscription term as services are provided. We offer merchant payment processing services as a separately paid connected service for our QuickBooks Desktop packaged software products and software subscriptions, and revenue is recognized as the services are provided to the customers. Online Offerings Our online offerings include TurboTax Online and TurboTax Live, ProConnect Tax Online, QuickBooks Online, online payroll, and merchant payment processing services for small businesses who use our online offerings. These online offerings provide customers with the right to use the hosted software over the contract period without taking possession of the software and are billed on either a subscription or consumption basis. Revenue related to our online offerings that are billed on a subscription basis is recognized ratably over the contract period. Revenue related to online offerings that are billed on a consumption basis, is recognized when the customer consumes the related service. Other Solutions Revenue from the sale of our financial supplies, such as printed check stock and hardware, such as retail point-of-sale equipment and credit card readers for mobile phones, is recognized when control is transferred to the customer which is generally when the products are shipped. We also have revenue-sharing and royalty arrangements with third-party partners and recognize this revenue as earned based upon reporting provided to us by our partners. In instances where we do not have reporting from our partners, we estimate revenue based on information available to us at the time. Product Revenue and Service and Other Revenue Product revenue includes revenue from: QuickBooks Desktop software licenses and version protection; consumer and professional tax desktop licenses and the related form updates; desktop payroll licenses and related updates; and financial supplies. Service and other revenue includes revenue from: our online offerings discussed above; support, electronic filing services and connected services included with our desktop offerings; merchant payment processing services for our desktop offerings; and revenue-sharing and royalty arrangements. We record revenue net of sales tax obligations. For payroll services, we generally require customers to remit payroll tax funds to us in advance of the payroll date via electronic funds transfer. We include in total net revenue the interest earned on these funds between the time that we collect them from customers and the time that we remit them to outside parties. Revenue for electronic payment processing services that we provide to merchants is recorded net of interchange fees charged by credit card associations. Judgments and Estimates Our contracts with customers often include promises to transfer multiple products and services to a customer. In determining how revenue should be recognized, a five-step process is used, which requires judgment and estimates. These judgments and estimates include identifying performance obligations in the contract, determining whether the performance obligations are distinct, determining the SSP for each distinct performance obligation, determining the timing of revenue recognition for distinct performance obligations and estimating the amount of variable consideration to include in the transaction price. The functionality of the software licenses included in our consumer and professional tax and payroll desktop offerings is dependent on the related enhancements and updates included in these offerings. Judgment is required to determine whether the software license is considered distinct and accounted for separately, or not distinct and accounted for together with the related updates and recognized over time. Our contracts with customers include promises to transfer various products and services, which are generally capable of being distinct performance obligations. In many cases SSPs for distinct performance obligations are based on directly observable pricing. In instances where the SSP is not directly observable, such as when we do not sell the product or service separately, we determine the SSP using information that may include market conditions and other observable inputs. Our consumer and professional tax desktop products include an on-premise tax software license and related tax form updates that are recognized as the forms and updates are delivered. We measure progress towards complete satisfaction of the software license and related tax form updates using an output method based on the timing of when the tax forms are delivered. We generally provide refunds to customers for product returns and subscription cancellations. We also provide promotional discounts and incentive rebates on retail and distribution sales. These refunds, discounts and incentive rebates are accounted for as variable consideration when estimating the amount of revenue to recognize. Refunds are estimated based on historical experience and current business and economic indicators and updated at the end of each reporting period as additional information becomes available to the extent that it is probable that a significant reversal of any incremental revenue will not occur. Discounts and incentive rebates are estimated based on distributors' and retailers' performance against the terms and conditions of the rebate programs. Deferred Revenue Generally, we receive payment at the time we enter into a contract with a customer. We record deferred revenue when we have entered into a contract with a customer and cash payments are received or due prior to transfer of control or satisfaction of the related performance obligation. During the twelve months ended July 31, 2020 , we recognized revenue of $619 million , that was included in deferred revenue at July 31, 2019 . During the twelve months ended July 31, 2019 , we recognized revenue of $581 million, that was included in deferred revenue at July 31, 2018 . Our performance obligations are generally satisfied within 12 months of the initial contract date. As of July 31, 2020 and 2019 , the deferred revenue balance related to performance obligations that will be satisfied after 12 months was $13 million and $4 million , respectively, and is included in other long-term obligations on our consolidated balance sheets. Assets Recognized from the Costs to Obtain a Contract with a Customer Our internal sales commissions are considered incremental costs of obtaining the contract with a customer. Internal sales commissions for subscription offerings where we expect the benefit of those costs to continue longer than one year are capitalized and amortized ratably over the period of benefit, which ranges from three to four years . Total capitalized costs to obtain a contract are not significant and are included in prepaid expenses and other current assets and other assets on our consolidated balance sheets. We apply a practical expedient to expense costs incurred to obtain a contract with a customer when the period of benefit is less than one year. These costs primarily include internal and external sales commissions for our consumer and professional tax offerings. Shipping and Handling We record the amounts we charge our customers for the shipping and handling of our software products as product revenue and we record the related costs as cost of product revenue in our consolidated statements of operations. Customer Service and Technical Support We include the costs of providing customer service under paid technical support contracts and as included in certain software subscriptions on the cost of service and other revenue line in our consolidated statements of operations. We also include the costs of customer service and technical support associated with our online or hosted offerings in cost of service and other revenue. We include the costs of customer service and free technical support related to desktop offerings in selling and marketing expense in our consolidated statements of operations. Customer service and technical support costs include costs associated with performing order processing, answering customer inquiries by telephone and through websites, e-mail and other electronic means, and providing free technical support assistance to customers. We expense the cost of providing this free support as incurred. Software Development Costs We expense software development costs as we incur them until technological feasibility has been established, at which time those costs are capitalized until the product is available for general release to customers. To date, our software has been available for general release concurrent with the establishment of technological feasibility and, accordingly, we have not capitalized any development costs. Costs we incur to enhance our existing products or after the general release of the service using the product are expensed in the period they are incurred and included in research and development expense in our consolidated statements of operations. Internal Use Software We capitalize costs related to development of hosted services that we provide to our customers and internal use of enterprise-level business and finance software in support of our operational needs. Costs incurred in the application development phase are capitalized and amortized on a straight-line basis over their useful lives, which are generally three to six years . Costs related to planning and other preliminary project activities and to post-implementation activities are expensed as incurred. We test these assets for impairment whenever events or changes in circumstances occur that could impact their recoverability. Advertising We expense all advertising costs as we incur them to selling and marketing expense in our consolidated statements of operations. We recorded advertising expense of approximately $778 million for the twelve months ended July 31, 2020 , $800 million for the twelve months ended July 31, 2019 , and $615 million for the twelve months ended July 31, 2018 . Leases Our leases are primarily operating leases for office facilities. We do not have significant finance leases. We determine if an arrangement is a lease and classify it as either a finance or operating lease at lease inception. Operating leases are included in operating lease right-of-use (ROU) assets, other current liabilities, and operating lease liabilities on our consolidated balance sheets. Operating lease liabilities are recognized at commencement date based on the present value of the future minimum lease payments over the lease term. Our leases generally do not have a readily determinable implicit rate, therefore we use our incremental borrowing rate at the commencement date in determining the present value of future payments. Our incremental borrowing rate is determined based on a yield curve derived from publicly traded bond offerings for companies with similar credit ratings to us. Our lease terms may include options to purchase, extend or terminate the lease when it is reasonably certain that we will exercise that option. We account for the lease and non-lease components as a single lease component. We measure ROU assets based on the corresponding lease liabilities adjusted for any initial direct costs and prepaid lease payments made to the lessor before or at the commencement date, net of lease incentives. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Variable lease payments are not included in the calculation of the ROU asset and lease liability and are recognized as lease expense is incurred. Our variable lease payments generally relate to amounts paid to lessors for common area maintenance under our real estate leases. Our subleases generally do not relieve us of our primary obligations under the corresponding head lease. As a result, we account for the head lease based on the original assessment at inception. We determine if the sublease arrangement is either a sales-type, direct financing, or operating lease at inception. If the total remaining lease cost on the head lease for the term of the sublease is greater than the anticipated sublease income, the ROU asset is assessed for impairment. Our subleases are generally operating leases and we recognize sublease income on a straight-line basis over the sublease term. Capitalization of Interest Expense We capitalize interest on capital projects, including facilities build-out projects and internal use computer software projects. Capitalization commences with the first expenditure for the project and continues until the project is substantially complete and ready for its intended use. We amortize capitalized interest to depreciation expense using the straight-line method over the same lives as the related assets. Capitalized interest was not significant for any period presented. Foreign Currency The functional currencies of our international operating subsidiaries are generally the local currencies. We translate the assets and liabilities of our foreign subsidiaries at the exchange rates in effect on the balance sheet date. We translate their revenue, costs and expenses at the average rates of exchange in effect during the period. We include translation gains and losses in the stockholders’ equity section of our consolidated balance sheets. We include net gains and losses resulting from foreign exchange transactions in interest and other income in our consolidated statements of operations. Translation gains and losses and transaction gains and losses were not significant for any period presented. Income Taxes We estimate our income taxes based on the various jurisdictions where we conduct business. Significant judgment is required in determining our worldwide income tax provision. We estimate our current tax liability and assess temporary differences that result from differing treatments of certain items for tax and accounting purposes. These differences result in deferred tax assets and liabilities, which we show on our consolidated balance sheet. We must then assess the likelihood that our deferred tax assets will be realized. To the extent we believe that realization is not likely, we establish a valuation allowance. When we establish a valuation allowance or increase this allowance in an accounting period, we record a corresponding income tax expense in our consolidated statement of operations. We review the need for a valuation allowance to reflect uncertainties about whether we will be able to utilize some of our deferred tax assets before they expire. The valuation allowance analysis is based on our estimates of taxable income for the jurisdictions in which we operate and the periods over which our deferred tax assets will be realizable. While we have considered future taxable income in assessing the need for a valuation allowance for the periods presented, we could be required to record a valuation allowance to take into account additional deferred tax assets that we may be unable to realize. An increase in the valuation allowance would have an adverse impact, which could be material, on our income tax provision and net income in the period in which we record the increase. We recognize and measure benefits for uncertain tax positions using a two-step approach. The first step is to evaluate the tax position taken or expected to be taken in a tax return by determining if the weight of available evidence indicates that it is more likely than not that the tax position will be sustained upon audit, including resolution of any related appeals or litigation processes. For tax positions that are more likely than not of being sustained upon audit, the second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. Significant judgment is required to evaluate uncertain tax positions. We evaluate our uncertain tax positions on a quarterly basis. Our evaluations are based upon a number of factors, including changes in facts or circumstances, changes in tax law, correspondence with tax authorities during the course of audits and effective settlement of audit issues. Changes in the recognition or measurement of uncertain tax positions could result in material increases or decreases in our income tax expense in the period in which we make the change, which could have a material impact on our effective tax rate and operating results. A description of our accounting policies associated with tax-related contingencies and valuation allowances assumed as part of a business combination is provided under “Business Combinations” below. 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. 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. The following table presents the composition of shares used in the computation of basic and diluted net income per share for the periods indicated. Twelve Months Ended July 31, (In millions, except per share amounts) 2020 2019 2018 Numerator: Net income $ 1,826 $ 1,557 $ 1,329 Denominator: Shares used in basic per share amounts: Weighted average common shares outstanding 261 260 256 Shares used in diluted per share amounts: Weighted average common shares outstanding 261 260 256 Dilutive common equivalent shares from stock options and restricted stock awards 3 4 5 Dilutive weighted average common shares outstanding 264 264 261 Basic and diluted net income per share: Basic net income per share $ 6.99 $ 5.99 $ 5.18 Diluted net income per share $ 6.92 $ 5.89 $ 5.09 Shares excluded from diluted net income per share: Weighted average stock options and restricted stock units that have been excluded from dilutive common equivalent shares outstanding due to their anti-dilutive effect — 1 — Cash Equivalents and Investments We consider highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents. In all periods presented, cash equivalents consist primarily of time deposits, savings deposit accounts, and money market funds. Investments consist primarily of investment-grade available-for-sale debt securities. 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 by limiting our holdings with any individual issuer. We use the specific identification method to compute gains and losses on investments. We record unrealized gains and losses on investments, net of tax, in accumulated other comprehensive income in the stockholders’ equity section of our consolidated balance sheets and reflect unrealized gain and loss activity in other comprehensive income on our consolidated statement of comprehensive income. We generally classify available-for-sale debt securities as current assets based upon our ability and intent to use any and all of these securities as necessary to satisfy the significant short-term liquidity requirements that may arise from the highly seasonal nature of our businesses. Because of our significant business seasonality, stock repurchase programs, and acquisition opportunities, cash flow requirements may fluctuate dramatically from quarter to quarter and require us to use a significant amount of the investments we hold as available-for-sale. Accounts Receivable and Allowances for Doubtful Accounts Accounts receivable are recorded at the invoiced amount and are not interest bearing. We maintain an allowance for doubtful accounts to reserve for potentially uncollectible receivables. We review our accounts receivable by aging category to identify significant customers or invoices with known disputes or collectibility issues. For those invoices not specifically identified as uncollectible, we provide an allowance based on the age of the receivable. In determining the amount of the allowance, we make judgments about the creditworthiness of significant customers based on ongoing credit evaluations. We also consider our historical level of credit losses and current economic trends that might impact the level of future credit losses. When we determine that amounts are uncollectible we write them off against the allowance. Notes Receivable and Allowances for Loan Losses Notes receivable consist of term loans to small businesses and are included in prepaid expenses and other current assets on our consolidated balance sheets. As of July 31, 2020 and July 31, 2019 , the notes receivable balance was $40 million and $95 million , respectively, and the allowances for loan losses were not material. The term loans are not secured and are recorded at amortized cost, net of allowances for loan losses. We maintain an allowance for loan losses to reserve for potentially uncollectible notes receivable. We evaluate the creditworthiness of our loan portfolio on a pooled basis due to its composition of small, homogeneous loans with similar general credit risk and characteristics and apply a loss rate at the time of loan origination. The loss rate and underlying model are updated periodically to reflect actual loan performance and changes in assumptions. We make judgments about the known and inherent risks in the loan portfolio, adverse situations that may affect borrowers’ ability to repay and current economic conditions. When we determine that amounts are uncollectible, we write them off against the allowance. Paycheck Protection Program - In April 2020, Intuit was approved as a non-bank Small Business Administration lender for the Paycheck Protection Program (PPP). The PPP was authorized under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to provide small businesses loans to pay payroll and group health costs, salaries and commissions, mortgage and rent payments, utilities, and interest on other debt which is designed to provide assistance to small businesses during the COVID-19 pandemic. Lending under the program expired on August 8, 2020. We have the intent and ability to sell all of our rights, title, and interests in qualified loans after origination to third-party investors. Loans held for sale are recorded at the lower of cost or fair v

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Jul. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	2. Fair Value Measurements Fair Value Hierarchy 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. At July 31, 2020 At July 31, 2019 (In millions) Level 1 Level 2 Total Fair Value Level 1 Level 2 Total Fair Value Assets: Cash equivalents, primarily time deposits, savings deposit accounts, and money market funds $ 5,765 $ — $ 5,765 $ 1,647 $ — $ 1,647 Available-for-sale debt securities: Municipal bonds — 9 9 — 5 5 Corporate notes — 752 752 — 800 800 U.S. agency securities — 47 47 — 19 19 Total available-for-sale securities — 808 808 — 824 824 Total assets measured at fair value on a recurring basis $ 5,765 $ 808 $ 6,573 $ 1,647 $ 824 $ 2,471 Liabilities: Senior unsecured notes (1) $ — $ 2,042 $ 2,042 $ — $ — $ — (1) Carrying value on our balance sheet at July 31, 2020 was $1.98 billion . See Note 8 , “ Long-Term Obligations and Commitments ” 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 shown: At July 31, 2020 At July 31, 2019 (In millions) Level 1 Level 2 Total Fair Value Level 1 Level 2 Total Fair Value Cash equivalents: In cash and cash equivalents $ 5,765 $ — $ 5,765 $ 1,647 $ — $ 1,647 Available-for-sale debt securities: In investments $ — $ 608 $ 608 $ — $ 624 $ 624 In funds held for customers — 200 200 — 200 200 Total available-for-sale debt securities $ — $ 808 $ 808 $ — $ 824 $ 824 We value our Level 1 assets, consisting primarily of time deposits, savings deposit accounts, and 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 assets whose fair values we measure using Level 3 inputs consist of loans held for sale. These loans are recorded at the lower of cost or fair value and totaled $98 million at July 31, 2020. The difference between cost and fair value was not material. Financial liabilities whose fair values we measure using Level 2 inputs consist of senior unsecured notes. See Note 8 , “ Long-Term Obligations and Commitments ” for more information. We measure the fair value of our senior unsecured notes based on their trading prices and the interest rates we could obtain for other borrowings with similar terms. There were no transfers between Level 1, Level 2, and Level 3 of the fair value hierarchy during the twelve months ended July 31, 2020 , 2019 or 2018 . Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis Assets measured at fair value on a non-recurring basis include reporting units measured at fair value in a goodwill impairment test. Estimates of fair value for reporting units fall under Level 3 of the fair value hierarchy. During the fourth quarters of fiscal 2020 , fiscal 2019 , and fiscal 2018 we performed our annual goodwill impairment tests. Using the methodology described in Note 1 , we determined that the estimated fair values of all of our reporting units exceeded their carrying values and that they were not impaired.

Cash and Cash Equivalents, Inve

Cash and Cash Equivalents, Investments, and Funds Held for Customers	12 Months Ended
	Jul. 31, 2020
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 The following table summarizes our cash and cash equivalents, investments and funds held for customers by balance sheet classification at the dates indicated. July 31, 2020 July 31, 2019 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value Classification on consolidated balance sheets: Cash and cash equivalents $ 6,442 $ 6,442 $ 2,116 $ 2,116 Investments 600 608 622 624 Funds held for customers 455 455 436 436 Long-term investments 19 19 13 13 Total cash and cash equivalents, investments, and funds held for customers $ 7,516 $ 7,524 $ 3,187 $ 3,189 The following table summarizes our cash and cash equivalents, investments and funds held for customers by investment category at the dates indicated. July 31, 2020 July 31, 2019 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value Type of issue: Total cash, cash equivalents, restricted cash, and restricted cash equivalents $ 6,697 $ 6,697 $ 2,352 $ 2,352 Available-for-sale debt securities: Municipal bonds 9 9 5 5 Corporate notes 744 752 798 800 U.S. agency securities 47 47 19 19 Total available-for-sale debt securities 800 808 822 824 Other long-term investments 19 19 13 13 Total cash, cash equivalents, restricted cash, restricted cash equivalents, and investments $ 7,516 $ 7,524 $ 3,187 $ 3,189 We include realized gains and losses on our available-for-sale debt securities in interest and other income or expense on our consolidated statements of operations. Gross realized gains and losses on our available-for-sale debt securities for the twelve months ended July 31, 2020 , 2019 and 2018 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 consolidated balance sheets. Gross unrealized gains and losses on our available-for-sale debt securities at July 31, 2020 and July 31, 2019 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 that we held at July 31, 2020 were not other-than-temporarily impaired. Unrealized losses on available-for-sale debt securities at July 31, 2020 were not significant and are 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, included in investments and funds held for customers, classified by the stated maturity date of the security at the dates indicated. July 31, 2020 July 31, 2019 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value Due within one year $ 389 $ 390 $ 415 $ 416 Due within two years 256 261 208 208 Due within three years 137 139 163 164 Due after three years 18 18 36 36 Total available-for-sale debt securities $ 800 $ 808 $ 822 $ 824 The following table summarizes our funds held for customers by investment category at the dates indicated. July 31, 2020 July 31, 2019 July 31, 2018 July 31, 2017 (In millions) Restricted cash and restricted cash equivalents $ 255 $ 236 $ 167 $ 172 Restricted available-for-sale debt securities 200 200 200 200 Total funds held for customers $ 455 $ 436 $ 367 $ 372

Property and Equipment

Property and Equipment	12 Months Ended
	Jul. 31, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment	4. Property and Equipment Property and equipment consisted of the following at the dates indicated: Life in July 31, (Dollars in millions) Years 2020 2019 Equipment 3-5 $ 226 $ 421 Computer software 2-6 870 860 Furniture and fixtures 5 93 90 Leasehold improvements 2-16 298 278 Land NA 79 79 Buildings 5-30 372 368 Capital in progress NA 90 65 2,028 2,161 Less accumulated depreciation and amortization (1,294 ) (1,381 ) Total property and equipment, net $ 734 $ 780 __________________________ NA = Not Applicable Capital in progress at July 31, 2020 and 2019 consisted primarily of costs related to internal use software projects and various buildings and site improvements that have not yet been placed into service. As discussed in Note 1 , “Description of Business and Summary of Significant Accounting Policies – Internal Use Software , ” we capitalize costs related to the development of computer software for internal use. We capitalized internal use software costs totaling $78 million for the twelve months ended July 31, 2020 ; $79 million for the twelve months ended July 31, 2019 ; and $86 million for the twelve months ended July 31, 2018 . These amounts included capitalized labor costs of $40 million, $43 million, and $45 million, respectively. Costs related to internal use software projects are included in the capital in progress category of property and equipment until project completion, at which time they are transferred to the computer software category.

Goodwill and Acquired Intangibl

Goodwill and Acquired Intangible Assets	12 Months Ended
	Jul. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Acquired Intangible Assets	5. Goodwill and Acquired Intangible Assets Goodwill Changes in the carrying value of goodwill by reportable segment during the twelve months ended July 31, 2020 and July 31, 2019 were as shown in the following table. Our reportable segments are described in Note 14 , “Segment Information.” (In millions) Balance Goodwill Acquired/ Adjusted Balance Goodwill Acquired/ Adjusted Balance Small Business & Self-Employed $ 1,496 $ 22 $ 1,518 $ — $ 1,518 Consumer 23 19 42 — 42 Strategic Partner 92 3 95 (1 ) 94 Totals $ 1,611 $ 44 $ 1,655 $ (1 ) $ 1,654 Goodwill is net of accumulated impairment losses of $114 million , which were recorded prior to July 31, 2018 and are included in our Consumer segment. The adjustments in goodwill during the twelve months ended July 31, 2020 consist of foreign currency translation. The increase in goodwill during the twelve months ended July 31, 2019 was primarily due to a business acquisition. Acquired Intangible Assets The following table shows the cost, accumulated amortization and weighted average life in years for our acquired intangible assets at the dates indicated. The weighted average lives are calculated for assets that are not fully amortized. (Dollars in millions) Customer Lists Purchased Technology Trade Names and Logos Covenants Not to Compete or Sue Total At July 31, 2020: Cost $ 256 $ 421 $ 25 $ 42 $ 744 Accumulated amortization (248 ) (404 ) (25 ) (39 ) (716 ) Acquired intangible assets, net $ 8 $ 17 $ — $ 3 $ 28 Weighted average life in years 5 3 NA 3 4 At July 31, 2019: Cost $ 256 $ 422 $ 25 $ 39 $ 742 Accumulated amortization (245 ) (383 ) (24 ) (36 ) (688 ) Acquired intangible assets, net $ 11 $ 39 $ 1 $ 3 $ 54 Weighted average life in years 5 3 3 3 4 The following table shows the expected future amortization expense for our acquired intangible assets at July 31, 2020 . Amortization of purchased technology is charged to cost of service and other revenue and to amortization of acquired technology in our consolidated statements of operations. Amortization of other acquired intangible assets such as customer lists is charged to amortization of other acquired intangible assets in our consolidated statements of operations. If impairment events occur, they could accelerate the timing of acquired intangible asset charges. (In millions) Expected Future Amortization Expense Twelve months ending July 31, 2021 $ 17 2022 10 2023 1 2024 — 2025 — Thereafter — Total expected future amortization expense $ 28

Business Combinations

Business Combinations	12 Months Ended
	Jul. 31, 2020
Business Combinations [Abstract]
Business Combinations	6. Business Combinations During fiscal 2018 we acquired all of the outstanding equity interests of TSheets.com LLC, Exactor, Inc., and Applatix, Inc. for total combined cash and other consideration of approximately $412 million . The $412 million included approximately $27 million for the fair value of equity awards and other cash consideration that is being charged to expense over the future service period of up to three years . These three businesses became part of our Small Business & Self-Employed segment and will provide additional features to our QuickBooks offerings such as automated time tracking and scheduling and the calculation and filing of sales and use taxes. We have included their results of operations in our consolidated results of operations from the dates of acquisition. Their results of operations for all periods presented and periods prior to the dates of acquisition were not material when compared with our consolidated results of operations. Under the acquisition method of accounting we allocated the fair value of the total combined purchase consideration of $385 million to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values on the dates of acquisition. The fair values assigned to the identifiable intangible assets acquired were based on estimates and assumptions determined by management. We recorded the excess of consideration over the aggregate fair values as goodwill which is primarily attributable to expected synergies from future growth. Using information available at the time the acquisitions closed, we allocated approximately $5 million of the total combined purchase consideration to net tangible assets and approximately $62 million to identified intangible assets which are being amortized over a weighted average life of four years . The identified intangible assets include $38 million for purchased technology, $17 million for customer lists, and $7 million for covenants not to compete. We recorded the excess combined purchase consideration of approximately $318 million as goodwill, of which approximately $219 million is deductible for income tax purposes. Proposed Credit Karma Transaction On February 24, 2020, we entered into an agreement and plan of merger (the Merger Agreement) to acquire Credit Karma, Inc., (Credit Karma) for $7.1 billion , subject to certain customary adjustments set forth in the Merger Agreement. We are acquiring Credit Karma to expand our consumer finance platform, accelerate our mission of powering prosperity around the world, and help consumers unlock smart money decisions to help make ends meet. The purchase price for Credit Karma will be payable in equal portions of cash and Intuit common stock, with the shares being valued at $299.7306 per share (which price was calculated based on the daily volume-weighted average sales price per share for Intuit common stock for the ten trading days ending on February 21, 2020). The per share price of these shares has been fixed as of the Merger Agreement signing date. The aggregate value of these shares will fluctuate based on changes in our share price between the signing date and the closing date. The total consideration of $7.1 billion includes an estimated $1.0 billion for the fair value of equity awards that will be expensed over service periods of up to three years . Additionally, as part of the merger agreement, following the close of the transaction we have agreed to issue approximately $300 million of restricted stock units, which will be charged to expense over a service period of four years . The cash portion of the purchase price is expected to be financed with our existing cash. The Merger Agreement must be approved by Credit Karma shareholders and is subject to receipt of required regulatory approvals and satisfaction or waiver of other customary closing conditions. The transaction is expected to close before the end of calendar year 2020 subject to receiving required regulatory approval. Additionally, if the Merger Agreement is terminated as a result of reaching its termination date ( 10 months from the signing date unless extended by us by up to five additional months) without receiving clearance to close under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 or on the termination date there is in effect an order or injunction or similar restraint preventing consummation of the transaction under applicable U.S. antitrust laws, then under certain circumstances we would be obligated to pay Credit Karma a termination fee of between $230 million and $350 million .

Current Liabilities

Current Liabilities	12 Months Ended
	Jul. 31, 2020
Other Liabilities Disclosure [Abstract]
Current Liabilities	7. Current Liabilities Short-Term Debt On May 2, 2019 we entered into an amended and restated credit agreement with certain institutional lenders with an aggregate principal amount of $1.4 billion , including a $400 million unsecured term loan that matures on February 1, 2021 and a $1 billion unsecured revolving credit facility that matures on May 2, 2024. Under the amended and restated credit agreement we may, subject to certain customary conditions including lender approval, on one or more occasions increase commitments under the term loan in an amount not to exceed $400 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 0.0% to 0.125% or the London Interbank Offered Rate (LIBOR) plus a margin that ranges from 0.625% to 1.125% . Actual margins under either election will be based on our senior debt credit ratings. The amended and restated credit agreement includes customary affirmative and negative covenants, including financial covenants that require us to maintain a ratio of total gross 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. As of July 31, 2020 we were compliant with all required covenants. The term loan is subject to quarterly principal payments of $12.5 million through October 31, 2020, with the balance payable on February 1, 2021. At July 31, 2020 , $338 million was outstanding under the term loan and was classified as short-term debt on our consolidated balance sheet. The carrying value of the term loan approximates its fair value. Interest on the term loan is payable monthly. We paid $9 million for interest on the term loan during the twelve months ended July 31, 2020 , $15 million during the twelve months ended July 31, 2019 , and $13 million during the twelve months ended July 31, 2018 . Unsecured Revolving Credit Facility The amended and restated credit agreement we entered into on May 2, 2019 includes a $1 billion unsecured revolving credit facility that will expire on May 2, 2024. Under this agreement we may, subject to certain customary conditions including lender approval, on one or more occasions increase commitments under the unsecured 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 unsecured 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 0.1% or LIBOR plus a margin that ranges from 0.69% to 1.1% . Actual margins under either election will be based on our senior debt credit ratings. The amended and restated credit agreement includes customary affirmative and negative covenants. See “Short-Term Debt” above for more information. At July 31, 2020 , $1 billion was outstanding under this revolving credit facility. We paid $2 million for interest on the unsecured revolving credit facility during the twelve months ended July 31, 2020 and $5 million during the twelve months ended July 31, 2018 . We paid no interest on the unsecured revolving credit facility during the twelve months ended July 31, 2019 . In August 2020, we repaid the $1 billion outstanding under this revolving credit facility. Other Current Liabilities Other current liabilities were as follows at the dates indicated: July 31, (In millions) 2020 2019 Executive deferred compensation plan liabilities $ 123 $ 108 Current portion of operating lease liabilities 46 — Reserve for returns and credits 24 24 Reserve for promotional discounts and rebates 11 11 Current portion of dividend payable 6 7 Current portion of deferred rent — 6 Interest payable 3 — Other 84 46 Total other current liabilities $ 297 $ 202

Long-Term Obligations and Commi

Long-Term Obligations and Commitments	12 Months Ended
	Jul. 31, 2020
Long-Term Obligations and Commitments [Abstract]
Long-Term Obligations and Commitments	8. Long-Term Obligations and Commitments Senior Unsecured Notes In June 2020 we issued four series of senior unsecured notes (together, the Notes) pursuant to a public debt offering. The proceeds from the issuance were $1.98 billion , net of debt discount of $2 million and debt issuance costs of $15 million . The carrying value of the Notes was as follows at the date indicated: July 31, Effective (In millions) 2020 Interest Rate Senior unsecured notes issued June 2020: 0.650% notes due July 2023 $ 500 0.837% 0.950% notes due July 2025 500 1.127% 1.350% notes due July 2027 500 1.486% 1.650% notes due July 2030 500 1.767% Total senior unsecured notes 2,000 Unamortized discount and debt issuance costs (17 ) Net carrying value senior unsecured notes $ 1,983 Interest is payable semiannually on January 15 and July 15 of each year, beginning on January 15, 2021. The discount and debt issuance costs are amortized to interest expense over the term of the Notes under the effective interest method. As the first interest payment on the Notes is January 15, 2021, we paid no interest on the Notes during the twelve months ended July 31, 2020 . The Notes are senior unsecured obligations of Intuit and rank equally with all existing and future unsecured and unsubordinated indebtedness of Intuit and are redeemable by us at any time, subject to a make-whole premium. Upon the occurrence of change of control transactions that are accompanied by certain downgrades in the credit ratings of the Notes, we will be required to repurchase the Notes at a repurchase price equal to 101% of the aggregate outstanding principal plus any accrued and unpaid interest to but not including the date of repurchase. The indenture governing the Notes requires us to comply with certain covenants. For example, the Notes limit our ability to create certain liens and enter into sale and leaseback transactions. As of July 31, 2020 we were compliant with all covenants governing the Notes. Secured Revolving Credit Facility On February 19, 2019 a subsidiary of Intuit entered into a two-year $300 million secured revolving credit facility with a lender. The revolving credit facility is secured by cash and receivables of the subsidiary and is non-recourse to Intuit Inc. Advances under this secured revolving credit facility are used to fund a portion of our loans to qualified small businesses and accrue interest at LIBOR plus 2.39% . Unused portions of the credit facility accrue interest at a rate of 0.5% . On March 2, 2020, we amended the secured revolving credit facility to extend the commitment term from February 19, 2021 to February 19, 2022 and the final maturity date from August 19, 2021 to August 19, 2022. The agreement includes certain affirmative and negative covenants, including financial covenants that require the subsidiary to maintain specified financial ratios. As of July 31, 2020 we were compliant with all required covenants. At July 31, 2020 , $48 million was outstanding under this facility, with a weighted-average interest rate of 5.74% , which includes the unused facility fee. The outstanding balance is secured by cash and receivables of the subsidiary totaling $144 million . Interest on the facility is payable monthly. We paid $3 million and $1 million for interest on the secured revolving credit facility during the twelve months ended July 31, 2020 and 2019 . Future principal payments for long-term debt at July 31, 2020 were as shown in the table below. (In millions) Fiscal year ending July 31, 2021 $ — 2022 — 2023 548 2024 — 2025 500 Thereafter 1,000 Total commitments $ 2,048 Other Long-Term Obligations Other long-term obligations were as follows at the dates indicated: July 31, (In millions) 2020 2019 Long-term income tax liabilities $ 10 $ 89 Total deferred rent — 47 Total dividend payable 12 11 Other 30 12 Total long-term obligations 52 159 Less current portion (included in other current liabilities) (10 ) (14 ) Long-term obligations due after one year $ 42 $ 145 Unconditional Purchase Obligations In the ordinary course of business we enter into certain unconditional purchase obligations with our suppliers. These are agreements to purchase products and services that are enforceable, legally binding, and specify terms that include fixed or minimum quantities to be purchased; fixed, minimum or variable price provisions; and the approximate timing of the payments. Annual minimum commitments under purchase obligations at July 31, 2020 were as shown in the table below. (In millions) Purchase Obligations Fiscal year ending July 31, 2021 $ 135 2022 49 2023 19 2024 — 2025 — Thereafter — Total commitments $ 203

Leases

Leases	12 Months Ended
	Jul. 31, 2020
Leases [Abstract]
Leases	9. Leases We lease office facilities under non-cancellable operating lease arrangements. Our facility leases generally provide for periodic rent increases and may contain escalation clauses and renewal options. Our leases have remaining lease terms of up to 10 years, some of which include one or more options to extend the leases for up to 10 years per option, generally at rates to be determined in accordance with the agreements. Options to extend the lease are included in the lease liability if they are reasonably certain of being exercised. We do not have significant finance leases. We sublease certain office facilities to third parties. These subleases have remaining lease terms of up to 5 years . In March 2020, we entered into an agreement to terminate an office facility lease and related sublease, which were due to expire in 2025 and 2022, respectively. As a result, we reduced our operating lease right-of-use assets and lease liabilities by $61 million . The components of lease expense were as follows: Twelve Months Ended (In millions) July 31, 2020 Operating lease cost (1) $ 69 Variable lease cost 13 Sublease income (22 ) Total net lease cost $ 60 (1) Includes short-term leases, which are not significant for the twelve months ended July 31, 2020 . Prior to the adoption of ASC 842, rent expense under operating leases, net of sublease income was $42 million and $38 million , respectively, for the twelve months ended July 31, 2019 and 2018 . Sublease income was $24 million and $23 million , respectively, for the twelve months ended July 31, 2019 and 2018 . Supplemental cash flow information related to operating leases was as follows: Twelve Months Ended July 31, 2020 (In millions) Cash paid for amounts included in the measurement of operating lease liabilities $ 70 Right-of-use assets obtained in exchange for new operating lease liabilities (1) $ 346 (1) For the twelve months ended July 31, 2020 , this includes $319 million for operating leases existing on August 1, 2019 and $27 million for operating leases that commenced during fiscal 2020 . Other information related to operating leases was as follows at the date indicated: July 31, 2020 Weighted-average remaining lease term for operating leases (in years) 5.5 Weighted-average discount rate for operating leases 3.1 % Future minimum lease payments under non-cancellable operating leases as of July 31, 2020 were as follows: (In millions) Operating Leases (1) Fiscal year ending July 31, 2021 $ 53 2022 57 2023 51 2024 49 2025 38 Thereafter 43 Total future minimum lease payments 291 Less imputed interest (24 ) Present value of lease liabilities $ 267 (1) Non-cancellable sublease proceeds for the fiscal years ending July 31, 2021 , 2022 , 2023 , 2024 , and 2025 of $15 million , $10 million , $2 million , $1 million , and $1 million , respectively, are not included in the table above. Supplemental balance sheet information related to operating leases was as follows at the date indicated: (In millions) July 31, Operating lease right-of-use assets $ 226 Other current liabilities $ 46 Operating lease liabilities 221 Total operating lease liabilities $ 267 As of July 31, 2020 , we have additional operating leases of $72 million , primarily for office facilities, that have not yet commenced and therefore are not reflected on the consolidated balance sheet nor in the tables above. These operating leases will commence between fiscal year 2021 and fiscal year 2022 with lease terms of 3 to 11 years.

Income Taxes

Income Taxes	12 Months Ended
	Jul. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	10. Income Taxes The provision for income taxes consisted of the following for the periods indicated: Twelve Months Ended July 31, (In millions) 2020 2019 2018 Current: Federal $ 372 $ 271 $ 197 State 79 67 38 Foreign 21 14 14 Total current 472 352 249 Deferred: Federal (47 ) (23 ) (14 ) State (47 ) (4 ) 2 Foreign (6 ) (1 ) — Total deferred (100 ) (28 ) (12 ) Total provision for income taxes $ 372 $ 324 $ 237 We recognized excess tax benefits on share-based compensation of $90 million , $120 million , and $100 million in the provision for income taxes for the twelve months ended July 31, 2020 , 2019 , and 2018 , respectively. The sources of income before the provision for income taxes consisted of the following for the periods indicated: Twelve Months Ended July 31, (In millions) 2020 2019 2018 United States $ 2,206 $ 1,826 $ 1,528 Foreign (8 ) 55 38 Total $ 2,198 $ 1,881 $ 1,566 Differences between income taxes calculated using the federal statutory income tax rate and the provision for income taxes were as follows for the periods indicated: Twelve Months Ended July 31, (In millions) 2020 2019 2018 Income before income taxes $ 2,198 $ 1,881 $ 1,566 U.S. federal statutory rate 21 % 21 % 26.9 % Statutory federal income tax $ 462 $ 395 $ 420 State income tax, net of federal benefit 25 50 29 Federal research and experimentation credits (54 ) (48 ) (38 ) Domestic production activities deduction — — (28 ) Share-based compensation 22 15 11 Federal excess tax benefits related to share-based compensation (79 ) (106 ) (94 ) 2017 Tax Act - Deferred tax re-measurement — — (29 ) Capital loss on subsidiary reorganization — — (35 ) Effects of non-U.S. operations 13 13 1 Other, net (17 ) 5 — Total provision for income taxes $ 372 $ 324 $ 237 The CARES Act was signed into law on March 27, 2020. We have evaluated the provisions of this act and determined that it did not result in a significant impact on our tax provision for the period. The Tax Cuts and Jobs Act (2017 Tax Act) was enacted on December 22, 2017 and reduced the U.S. statutory federal corporate tax rate from 35% to 21%. The effective date of the tax rate change was January 1, 2018. The change resulted in a blended lower U.S. statutory federal rate of 26.9% for fiscal year 2018. In fiscal 2019, we fully benefited from the enacted lower tax rate of 21%. We recorded a benefit of $29 million for fiscal 2018 related to the re-measurement of deferred tax balances as a result of the 2017 Tax Act. During fiscal year 2018, we completed a reorganization which resulted in a taxable liquidation of a subsidiary. The transaction gave rise to a capital loss which is available for carryback to prior years to offset capital gain income previously recognized. As a result, we recognized a tax benefit of $35 million during the fourth quarter of fiscal 2018. The state income tax line in the table above includes excess tax benefits related to share-based compensation of $11 million , $14 million and $6 million for the twelve months ended July 31, 2020 , 2019 and 2018 , respectively. Significant deferred tax assets and liabilities were as follows at the dates indicated: July 31, (In millions) 2020 2019 Deferred tax assets: Accruals and reserves not currently deductible $ 23 $ 13 Operating lease liabilities 64 — Accrued and deferred compensation 112 48 Loss and tax credit carryforwards 114 117 Intangible assets 26 — Share-based compensation 44 47 Other, net 13 11 Total gross deferred tax assets 396 236 Valuation allowance (132 ) (107 ) Total deferred tax assets 264 129 Deferred tax liabilities: Deferred revenue 68 66 Operating lease right-of-use assets 55 — Intangibles 45 71 Property and equipment 22 20 Other, net 11 8 Total deferred tax liabilities 201 165 Net deferred tax assets (liabilities) $ 63 $ (36 ) The components of total net deferred tax liabilities, net of valuation allowances, as shown on our consolidated balance sheets were as follows at the dates indicated: July 31, (In millions) 2020 2019 Long-term deferred income taxes $ 65 $ 1 Long-term deferred income tax liabilities (2 ) (37 ) Net deferred tax assets (liabilities) $ 63 $ (36 ) We have provided a valuation allowance related to state research and experimentation tax credit carryforwards, foreign loss carryforwards, foreign intangible deferred tax assets and state operating and capital loss carryforwards that we believe are unlikely to be realized. Changes in the valuation allowance during the twelve months ended July 31, 2020 were primarily related to foreign intangible deferred tax assets, foreign loss carryforwards and state research and experimentation tax credit carryforwards. Changes in the valuation allowance during the twelve months ended July 31, 2019 were primarily related to an increase in the valuation allowance for state research and experimentation tax credit carryforwards. At July 31, 2020 , we had total federal net operating loss carryforwards of approximately $34 million that will start to expire in fiscal 2032 . Utilization of the net operating losses is subject to annual limitation. The annual limitation may result in the expiration of net operating losses before utilization. At July 31, 2020 , we had total state net operating loss carryforwards of approximately $83 million for which we have recorded a deferred tax asset of $6 million and a valuation allowance of $4 million . The state net operating losses will start to expire in fiscal 2022 . Utilization of the net operating losses is subject to annual limitation. The annual limitation may result in the expiration of net operating losses before utilization. At July 31, 2020 , we had Singapore operating loss carryforwards of approximately $61 million , Brazil operating loss carryforwards of approximately $51 million and United Kingdom operating loss carryforwards of approximately $57 million which have an indefinite carryforward period. We maintain a full valuation allowance with respect to operating losses in these jurisdictions, as there is not sufficient evidence of future sources of taxable income required to utilize such carryforwards. At July 31, 2020 , we had California research and experimentation credit carryforwards of approximately $110 million . We recorded a full valuation on the related deferred tax asset, as we believe it is more likely than not that these credits will not be utilized. Unrecognized Tax Benefits The aggregate changes in the balance of our gross unrecognized tax benefits were as follows for the periods indicated: Twelve Months Ended July 31, (In millions) 2020 2019 2018 Gross unrecognized tax benefits, beginning balance $ 120 $ 90 $ 61 Increases related to tax positions from prior fiscal years, including acquisitions 2 13 10 Decreases related to tax positions from prior fiscal years (35 ) — (3 ) Increases related to tax positions taken during current fiscal year 21 23 23 Settlements with tax authorities (1 ) (1 ) (1 ) Lapse of statute of limitations (6 ) (5 ) — Gross unrecognized tax benefits, ending balance $ 101 $ 120 $ 90 The total amount of our unrecognized tax benefits at July 31, 2020 was $101 million. Net of related deferred tax assets, unrecognized tax benefits were $61 million at that date. If we were to recognize these net benefits, our income tax expense would reflect a favorable net impact of $61 million. We do not believe that it is reasonably possible that there will be a significant increase or decrease in unrecognized tax benefits over the next 12 months. We file U.S. federal, U.S. state, and foreign tax returns. Our major tax jurisdictions are the U.S. federal jurisdiction and California. For U.S. federal and California state tax returns, we are no longer subject to tax examinations for years prior to fiscal 2016. We recognize interest and penalties related to unrecognized tax benefits within the provision for income taxes. Amounts accrued at July 31, 2020 and July 31, 2019 for the payment of interest and penalties were not significant. The amounts of interest and penalties that we recognized during the twelve months ended July 31, 2020 , 2019 and 2018 were also not significant. We have offset a $59 million long-term income tax receivable against our long-term liability for uncertain tax positions at July 31, 2020 . The long-term income tax receivable is primarily related to the government’s approval of a method of accounting change request for fiscal 2018.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Jul. 31, 2020
Share-based Payment Arrangement [Abstract]
Stockholders' Equity	11. Stockholders’ Equity Stock Repurchase Programs 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. Under these programs, we repurchased 1.2 million shares of our common stock for $318 million during the twelve months ended July 31, 2020 . At July 31, 2020 , we had authorization from our Board of Directors to expend up to an additional $2.4 billion for stock repurchases. In connection with our pending acquisition of Credit Karma, we have temporarily suspended share repurchases. Future stock repurchases under the current program are at the discretion of management, and authorization of future stock repurchase programs is subject to the final determination of our Board of Directors. Our treasury shares are repurchased at the market price on the trade date; accordingly, all amounts paid to reacquire these shares have been recorded as treasury stock on our consolidated 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 fiscal 2020 we declared cash dividends that totaled $2.12 per share of outstanding common stock or approximately $562 million . In August 2020 our Board of Directors declared a quarterly cash dividend of $0.59 per share of outstanding common stock payable on October 19, 2020 to stockholders of record at the close of business on October 12, 2020 . 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. Description of 2005 Equity Incentive Plan Our stockholders initially approved our 2005 Equity Incentive Plan (2005 Plan) on December 9, 2004. On January 19, 2017 our stockholders approved an Amended and Restated 2005 Equity Incentive Plan (Restated 2005 Plan) that expires on January 19, 2027. Under the Restated 2005 Plan, we are permitted to grant incentive and non-qualified stock options, restricted stock awards, restricted stock units (RSUs), stock appreciation rights and stock bonus awards to our employees, non-employee directors, and consultants. The Compensation and Organizational Development Committee of our Board of Directors or its delegates determine who will receive grants, when those grants will be exercisable, their exercise price and other terms. We are permitted to issue up to 138.1 million shares under the Restated 2005 Plan. The plan provides a fungible share reserve. Each stock option granted on or after November 1, 2010 reduces the share reserve by one share and each restricted stock award or restricted stock unit granted reduces the share reserve by 2.3 shares. Stock options forfeited and returned to the pool of shares available for grant increase the pool by one share for each share forfeited. Restricted stock awards and RSUs forfeited and returned to the pool of shares available for grant increase the pool by 2.3 shares for each share forfeited. Shares withheld for income taxes upon vesting of RSUs that were granted on or after July 21, 2016 are also returned to the pool of shares available for grant. At July 31, 2020 , there were approximately 18.0 million shares available for grant under this plan. Stock options granted under the 2005 Plan and the Restated 2005 Plan typically vest over three to four years based on continued service and have a seven year term. RSUs granted under those plans typically vest over three to four years based on continued service. Certain RSUs granted to senior management vest based on the achievement of pre-established performance or market goals. Description of Employee Stock Purchase Plan On November 26, 1996 our stockholders initially adopted our Employee Stock Purchase Plan (ESPP) under Section 423 of the Internal Revenue Code. The ESPP permits our eligible employees to make payroll deductions to purchase our stock on regularly scheduled purchase dates at a discount. Our stockholders have approved amendments to the ESPP to permit the issuance of up to 23.8 million shares under the ESPP, which expires upon the earliest to occur of (a) termination of the ESPP by the Board, or (b) issuance of all the shares of Intuit’s common stock reserved for issuance under the ESPP. Offering periods under the ESPP are six months in duration and composed of two consecutive three-month accrual periods. Shares are purchased at 85% of the lower of the closing price for Intuit common stock on the first day of the offering period or the last day of the accrual period. Under the ESPP, employees purchased 449,999 shares of Intuit common stock during the twelve months ended July 31, 2020 ; 485,011 shares during the twelve months ended July 31, 2019 ; and 612,768 shares during the twelve months ended July 31, 2018 . At July 31, 2020 , there were 1,456,184 shares available for issuance under this plan. Share-Based Compensation Expense The following table summarizes the total share-based compensation expense that we recorded in operating income for the periods shown. Twelve Months Ended July 31, (In millions except per share amounts) 2020 2019 2018 Cost of product revenue $ 1 $ 1 $ 3 Cost of service and other revenue 59 57 40 Selling and marketing 116 103 101 Research and development 151 136 133 General and administrative 108 104 105 Total share-based compensation expense 435 401 382 Income tax benefit (173 ) (200 ) (199 ) Decrease in net income $ 262 $ 201 $ 183 Decrease in net income per share: Basic $ 1.00 $ 0.77 $ 0.71 Diluted $ 0.99 $ 0.76 $ 0.70 We capitalized $3 million , $4 million , and $3 million in share-based compensation related to internal use software projects during the twelve months ended July 31, 2020 , 2019 , and 2018 . Determining Fair Value Valuation and Amortization Methods Restricted stock units (RSUs) granted typically vest based on continued service. We value these time-based RSUs at the date of grant using the intrinsic value method. We amortize the fair value of time-based RSUs on a straight-line basis over the service period. Certain RSUs granted to senior management vest based on the achievement of pre-established performance or market goals. We estimate the fair value of performance-based RSUs at the date of grant using the intrinsic value method and the probability that the specified performance criteria will be met. Each quarter we update our assessment of the probability that the specified performance criteria will be achieved and adjust our estimate of the fair value of the performance-based RSUs if necessary. We amortize the fair values of performance-based RSUs over the requisite service period for each separately vesting tranche of the award. We estimate the fair value of market-based RSUs at the date of grant using a Monte Carlo valuation methodology and amortize those fair values over the requisite service period for each separately vesting tranche of the award. The Monte Carlo methodology that we use to estimate the fair value of market-based RSUs at the date of grant incorporates into the valuation the possibility that the market condition may not be satisfied. Provided that the requisite service is rendered, the total fair value of the market-based RSUs at the date of grant must be recognized as compensation expense even if the market condition is not achieved. However, the number of shares that ultimately vest can vary significantly with the performance of the specified market criteria. All of the RSUs we grant have dividend rights that are subject to the same vesting requirements as the underlying equity awards, so we do not adjust the market price of our stock on the date of grant for dividends. We estimate the fair value of stock options granted using a lattice binomial model and a multiple option award approach. Our stock options have various restrictions, including vesting provisions and restrictions on transfer, and are often exercised prior to their contractual maturity. We believe that lattice binomial models are more capable of incorporating the features of our stock options than closed-form models such as the Black Scholes model. The use of a lattice binomial model requires the use of extensive actual employee exercise behavior and a number of complex assumptions including the expected volatility of our stock price over the term of the options, risk-free interest rates and expected dividends. We amortize the fair value of options on a straight-line basis over the requisite service periods of the awards, which are generally the vesting periods. Expected Term . The expected term of options granted represents the period of time that they are expected to be outstanding and is a derived output of the lattice binomial model. The expected term of stock options is impacted by all of the underlying assumptions and calibration of our model. The lattice binomial model assumes that option exercise behavior is a function of the option’s remaining vested life and the extent to which the market price of our common stock exceeds the option exercise price. The lattice binomial model estimates the probability of exercise as a function of these two variables based on the history of exercises and cancellations on all past option grants made by us. Expected Volatility . We estimate the volatility of our common stock at the date of grant based on the implied volatility of one-year and two-year publicly traded options on our common stock. Our decision to use implied volatility was based upon the availability of actively traded options on our common stock and our assessment that implied volatility is more representative of future stock price trends than historical volatility. Risk-Free Interest Rate . We base the risk-free interest rate that we use in our option valuation model on the implied yield in effect at the time of option grant on constant maturity U.S. Treasury issues with equivalent remaining terms. Dividends . We use an annualized expected dividend yield in our option valuation model. We paid quarterly cash dividends during all years presented and currently expect to continue to pay cash dividends in the future. Forfeitures . We adjust share-based compensation expense for actual forfeitures as they occur. We used the following assumptions to estimate the fair value of stock options granted and shares purchased under our Employee Stock Purchase Plan for the periods indicated: Twelve Months Ended July 31, 2020 2019 2018 Assumptions for stock options: Expected volatility (range) 32 % 26% - 27% 25 % Weighted average expected volatility 32 % 27 % 25 % Risk-free interest rate (range) 0.20 % 1.84% - 2.92% 2.84 % Expected dividend yield 0.70 % 0.67% - 0.85% 0.72 % Assumptions for ESPP: Expected volatility (range) 23% - 72% 21% - 33% 20% - 25% Weighted average expected volatility 39 % 26 % 23 % Risk-free interest rate (range) 0.24% - 2.23% 1.94% - 2.44% 1.05% - 1.96% Expected dividend yield 0.74% - 0.95% 0.73% - 0.95% 0.87% - 1.10% Share-Based Awards Available for Grant A summary of share-based awards available for grant under our 2005 Equity Incentive Plan for the fiscal periods indicated was as follows: (Shares in thousands) Shares Available for Grant Balance at July 31, 2017 25,164 Restricted stock units granted (1) (6,504 ) Options granted (455 ) Share-based awards canceled/forfeited/expired (1)(2) 4,586 Balance at July 31, 2018 22,791 Restricted stock units granted (1) (5,639 ) Options granted (487 ) Share-based awards canceled/forfeited/expired (1)(2) 4,393 Balance at July 31, 2019 21,058 Restricted stock units granted (1) (6,111 ) Options granted (382 ) Share-based awards canceled/forfeited/expired (1)(2) 3,482 Balance at July 31, 2020 18,047 (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 RSUs 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 RSUs that were granted on or after July 21, 2016 are also returned to the pool of shares available for grant. Stock options and RSUs canceled, expired or forfeited under older expired plans are not returned to the pool of shares available for grant. Restricted Stock Unit Activity and Related Share-Based Compensation Expense A summary of restricted stock unit (RSU) activity for the periods indicated was as follows: (Shares in thousands) Number of Shares Weighted Average Grant Date Fair Value Nonvested at July 31, 2017 8,636 $98.76 Granted 2,828 185.53 Unregistered restricted stock granted in connection with acquisitions 75 163.00 Vested (2,960 ) 105.71 Forfeited (1,196 ) 88.59 Nonvested at July 31, 2018 7,383 131.50 Granted 2,452 245.40 Vested (3,123 ) 129.31 Forfeited (1,029 ) 107.40 Nonvested at July 31, 2019 5,683 186.22 Granted 2,657 271.80 Vested (2,039 ) 180.40 Forfeited (637 ) 154.91 Nonvested at July 31, 2020 5,664 $231.97 Additional information regarding our RSUs is shown in the table below. Twelve Months Ended July 31, (In millions) 2020 2019 2018 Total fair market value of shares vested $ 620 $ 676 $ 527 Share-based compensation for RSUs $ 382 $ 351 $ 326 Total tax benefit related to RSU share-based compensation expense $ 134 $ 141 $ 143 Cash tax benefits realized for tax deductions for RSUs $ 139 $ 150 $ 142 At July 31, 2020 , there was $1.2 billion of unrecognized compensation cost related to non-vested RSUs with a weighted average vesting period of 3.2 years. We will adjust unrecognized compensation cost for actual forfeitures as they occur. Stock Option Activity and Related Share-Based Compensation Expense A summary of stock option activity for the periods indicated was as follows: Options Outstanding (Shares in thousands) Number of Shares Weighted Average Exercise Price Per Share Balance at July 31, 2017 7,488 $104.50 Granted 455 216.64 Exercised (2,416 ) 89.41 Canceled or expired (373 ) 121.31 Balance at July 31, 2018 5,154 120.26 Granted 487 274.26 Exercised (1,924 ) 102.49 Canceled or expired (343 ) 138.59 Balance at July 31, 2019 3,374 150.75 Granted 382 303.94 Exercised (993 ) 111.82 Canceled or expired (82 ) 188.39 Balance at July 31, 2020 2,681 $185.83 Information regarding stock options outstanding as of July 31, 2020 is summarized below: Number of Shares (in thousands) Weighted Average Remaining Contractual Life (in Years) Weighted Average Exercise Price per Share Aggregate Intrinsic Value (in millions) Options outstanding 2,681 4.39 $185.83 $323 Options exercisable 1,808 3.51 $141.76 $298 The aggregate intrinsic values at July 31, 2020 are calculated as the difference between the exercise price of the underlying options and the market price of our common stock for shares that were in-the-money at that date. In-the-money options at July 31, 2020 were options that had exercise prices that were lower than the $306.37 market price of our common stock at that date. Additional information regarding our stock options and ESPP shares is shown in the table below. Twelve Months Ended July 31, (In millions except per share amounts) 2020 2019 2018 Weighted average fair value of options granted (per share) $ 74.85 $ 63.18 $ 50.77 Total grant date fair value of options vested $ 28 $ 30 $ 38 Aggregate intrinsic value of options exercised $ 159 $ 248 $ 188 Share-based compensation expense for stock options and ESPP $ 53 $ 50 $ 56 Total tax benefit for stock option and ESPP share-based compensation $ 39 $ 59 $ 56 Cash received from option exercises $ 111 $ 197 $ 216 Cash tax benefits realized related to tax deductions for non-qualified option exercises and disqualifying dispositions under all share-based payment arrangements $ 39 $ 58 $ 53 At July 31, 2020 , there was approximately $57 million of unrecognized compensation cost related to non-vested stock options with a weighted average vesting period of 3.3 years. We will adjust unrecognized compensation cost for actual forfeitures as they occur. Accumulated Other Comprehensive Loss Comprehensive income consists of two elements, net income and other comprehensive income (loss). Other comprehensive income (loss) items are recorded in the stockholders’ equity section of our consolidated balance sheets and excluded from net income. Our other comprehensive income (loss) consists of unrealized gains and losses on marketable debt securities classified as available-for-sale and foreign currency translation adjustments for subsidiaries with functional currencies other than the U.S. dollar. The following table shows the components of accumulated other comprehensive loss, net of income taxes, in the stockholders’ equity section of our consolidated balance sheets at the dates indicated. July 31, (In millions) 2020 2019 Unrealized gain on available-for-sale debt securities $ 6 $ 1 Foreign currency translation adjustments (38 ) (37 ) Total accumulated other comprehensive loss $ (32 ) $ (36 )

Benefit Plans

Benefit Plans	12 Months Ended
	Jul. 31, 2020
Retirement Benefits [Abstract]
Benefit Plans	12. Benefit Plans Non-Qualified Deferred Compensation Plan Intuit’s Executive Deferred Compensation Plan provides that executives who meet minimum compensation requirements are eligible to defer up to 75% of their salaries and up to 75% of their bonuses. We have agreed to credit the participants’ contributions with earnings that reflect the performance of certain independent investment funds. We do not guarantee above-market interest on account balances. We may also make discretionary employer contributions to participant accounts in certain circumstances. The timing, amounts, and vesting schedules of employer contributions are at the sole discretion of the Compensation and Organizational Development Committee of our Board of Directors or its delegate. The benefits under this plan are unsecured and are general assets of Intuit. Participants are generally eligible to receive payment of their vested benefit at the end of their elected deferral period or after termination of their employment with Intuit for any reason or at a later date to comply with the restrictions of Section 409A of the Internal Revenue Code. Participants may elect to receive their payments in a lump sum or installments. Discretionary company contributions and the related earnings vest completely upon the participant’s disability, death, or a change in control of Intuit. We made no employer contributions to the plan for any period presented. We had liabilities related to this plan of $123 million at July 31, 2020 and $108 million at July 31, 2019 . We have matched the plan liabilities with similar-performing assets, which are primarily investments in life insurance contracts. These assets are recorded in other long-term assets while liabilities related to obligations are recorded in other current liabilities on our consolidated balance sheets. 401(k) Plan In the United States, employees who participate in the Intuit Inc. 401(k) Plan may currently contribute up to 50% of pre-tax compensation, subject to Internal Revenue Service limitations and the terms and conditions of the plan. We match a portion of employee contributions, currently 125% up to six percent of salary, subject to Internal Revenue Service limitations. Matching contributions were $69 million for the twelve months ended July 31, 2020 ; $59 million for the twelve months ended July 31, 2019 ; and $50 million for the twelve months ended July 31, 2018 .

Litigation

Litigation	12 Months Ended
	Jul. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Litigation	13. Litigation Beginning in May 2019, various legal proceedings were filed and certain regulatory inquiries were commenced in connection with our provision and marketing of free online tax preparation programs. We believe that the allegations contained within these legal proceedings are without merit. We intend to vigorously defend against the legal proceedings and cooperate in the inquiries. These proceedings include multiple putative class actions that were consolidated into a single putative class action in the Northern District of California in September 2019 and demands for arbitration that were filed beginning in October 2019. To date, the legal and other fees we have incurred related to these proceedings and inquiries have not been material. The ongoing defense and any resolution or settlement of these proceedings and inquiries could involve significant costs to us. In view of the complexity and ongoing nature of these proceedings and inquiries, at this time we are unable to estimate a reasonably possible financial loss or range of financial loss that we may incur to resolve or settle these matters. As of July 31, 2020, there are approximately 42,000 individual arbitration claims pending and we could incur significant arbitration and legal fees associated with the defense of these claims. In fiscal year 2020, we recorded approximately $14 million in arbitration fees related to these claims. The arbitration fees are accrued when invoiced or when the services are rendered. We are disputing the applicability and propriety of these fees. However, we could incur additional arbitration fees of approximately $120 million related to these claims in the future. These additional fees could be incurred beginning in fiscal 2021. Intuit is subject to certain routine legal proceedings, including class action lawsuits, as well as demands, claims, government inquiries and threatened litigation, that arise in the normal course of our business, including assertions that we may be infringing patents or other intellectual property rights of others. Our failure to obtain necessary license or other rights, or litigation arising out of intellectual property claims could adversely affect our business. We currently believe that, in addition to any amounts accrued, the amount of potential losses, if any, for any pending claims of any type (either alone or combined) will not have a material impact on our consolidated financial statements. The ultimate outcome of any legal proceeding is uncertain and, regardless of outcome, legal proceedings can have an adverse impact on Intuit because of defense costs, negative publicity, diversion of management resources and other factors.

Segment Information

Segment Information	12 Months Ended
	Jul. 31, 2020
Segment Reporting [Abstract]
Segment Information	14. 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 & Self-Employed : This segment serves small businesses and the self-employed around the world, and the accounting professionals who assist and advise them. Our offerings include QuickBooks financial and business management online services and desktop software, payroll solutions, merchant payment processing solutions, and financing for small businesses. Consumer : This segment serves consumers and includes do-it-yourself and assisted TurboTax income tax preparation products and services sold in the U.S. and Canada. Our Mint and Turbo offerings serve consumers and help them understand and improve their financial lives by offering a view of their financial health. Strategic Partner : This segment serves professional accountants in the U.S. and Canada, who are essential to both small business success and tax preparation and filing. Our professional tax offerings include Lacerte, ProSeries, ProFile, and ProConnect Tax Online. All of our segments operate primarily in the United States and sell primarily to customers in the United States. Total international net revenue was less than 5% of consolidated total net revenue for the twelve months ended July 31, 2020 , 2019 and 2018 . We include expenses such as corporate selling and marketing, product development, general and administrative and share-based compensation, 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 . 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. See Note 5 , “Goodwill and Acquired Intangible Assets,” for goodwill by reportable segment. The following table shows our financial results by reportable segment for the periods indicated. Twelve Months Ended July 31, (In millions) 2020 2019 2018 Net revenue: Small Business & Self-Employed $ 4,050 $ 3,533 $ 3,061 Consumer 3,136 2,775 2,508 Strategic Partner 493 476 456 Total net revenue $ 7,679 $ 6,784 $ 6,025 Operating income: Small Business & Self-Employed $ 1,911 $ 1,549 $ 1,326 Consumer 1,942 1,742 1,587 Strategic Partner 333 318 284 Total segment operating income 4,186 3,609 3,197 Unallocated corporate items: Share-based compensation expense (435 ) (401 ) (382 ) Other common expenses (1,547 ) (1,328 ) (1,234 ) Amortization of acquired technology (22 ) (20 ) (15 ) Amortization of other acquired intangible assets (6 ) (6 ) (6 ) Total unallocated corporate items (2,010 ) (1,755 ) (1,637 ) Total operating income $ 2,176 $ 1,854 $ 1,560 Revenue classified by significant product and service offerings was as follows: Twelve Months Ended July 31, (In millions) 2020 2019 2018 Net revenue: QuickBooks Online Accounting $ 1,354 $ 980 $ 695 Online Services 828 683 511 Total Online Ecosystem 2,182 1,663 1,206 QuickBooks Desktop Accounting 755 732 716 Desktop Services and Supplies 1,113 1,138 1,139 Total Desktop Ecosystem 1,868 1,870 1,855 Small Business & Self-Employed 4,050 3,533 3,061 Consumer 3,136 2,775 2,508 Strategic Partner 493 476 456 Total net revenue $ 7,679 $ 6,784 $ 6,025 Revenue from our QuickBooks Desktop packaged software products was $147 million , $167 million , and $166 million for the twelve months ended July 31, 2020 , 2019 , and 2018 , respectively. These amounts are included in the QuickBooks Desktop Accounting revenue presented in the table above.

Selected Quarterly Financial Da

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Jul. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data (Unaudited)	15. Selected Quarterly Financial Data (Unaudited) The following tables contain selected quarterly financial data for the twelve months ended July 31, 2020 and July 31, 2019 . Fiscal 2020 Quarter Ended (In millions, except per share amounts) October 31 January 31 April 30 July 31 Total net revenue $ 1,165 $ 1,696 $ 3,002 $ 1,816 Cost of revenue 290 340 426 322 All other costs and expenses 865 1,086 1,163 1,011 Operating income 10 270 1,413 483 Net income 57 240 1,084 445 Basic net income per share $ 0.22 $ 0.92 $ 4.15 $ 1.70 Diluted net income per share $ 0.22 $ 0.91 $ 4.11 $ 1.68 Fiscal 2019 Quarter Ended (In millions, except per share amounts) October 31 January 31 April 30 July 31 Total net revenue $ 1,016 $ 1,502 $ 3,272 $ 994 Cost of revenue 247 285 354 281 All other costs and expenses 779 984 1,134 866 Operating income (loss) (10 ) 233 1,784 (153 ) Net income (loss) 34 189 1,378 (44 ) Basic net income (loss) per share $ 0.13 $ 0.73 $ 5.30 $ (0.17 ) Diluted net income (loss) per share $ 0.13 $ 0.72 $ 5.22 $ (0.17 )

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Jul. 31, 2020
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	INTUIT INC. SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (In millions) Beginning Balance Additions Charged to Expense/ Revenue Deductions Ending Balance Year ended July 31, 2020 Allowance for doubtful accounts $ 3 $ 68 $ (59 ) $ 12 Reserve for returns and credits 24 170 (170 ) 24 Reserve for promotional discounts and rebates 11 73 (73 ) 11 Year ended July 31, 2019 Allowance for doubtful accounts $ 5 $ 59 $ (61 ) $ 3 Reserve for returns and credits 17 190 (183 ) 24 Reserve for promotional discounts and rebates 10 92 (91 ) 11 Year ended July 31, 2018 Allowance for doubtful accounts $ 46 $ 58 $ (99 ) $ 5 Reserve for returns and credits 14 167 (164 ) 17 Reserve for promotional discounts and rebates 19 99 (108 ) 10

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jul. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation These 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 reclassified certain amounts previously reported in our financial statements to conform to the current presentation. We acquired TSheets.com LLC, Exactor, Inc., and Applatix, Inc. in fiscal 2018. We have included the results of operations for these companies in our consolidated statements of operations from the dates of acquisition. See Note 6 , “ Business Combinations ,” for more information.
Seasonality	Seasonality Historically, our Consumer and Strategic Partner offerings have had a significant and distinct seasonal pattern as sales and revenue from our income tax preparation products and services are heavily concentrated in the period from November through April. This seasonal pattern has historically resulted in higher net revenues during our second and third quarters ending January 31 and April 30, respectively. In March 2020, as a relief measure in response to the COVID-19 pandemic, the IRS extended the filing deadline for the 2019 tax year from April 15, 2020 to July 15, 2020. Additionally, all states with a personal income tax also extended their due dates, predominantly to July. As a result, there was a shift in sales and revenue from our third fiscal quarter to our fourth fiscal quarter during fiscal 2020. Use of Estimates
Use of Estimates	Use of Estimates In preparing our consolidated financial statements in accordance with U.S. generally accepted accounting principles (GAAP), we make certain judgments, estimates, and assumptions that affect the amounts reported in our financial statements and the disclosures made in the accompanying notes. For example, we use judgments and estimates in determining how revenue should be recognized. These judgments and estimates include identifying performance obligations, determining if the performance obligations are distinct, determining the standalone sales price (SSP) and timing of revenue recognition for each distinct performance obligation, and estimating variable consideration to be included in the transaction price. We use estimates in determining the collectibility of accounts receivable and notes receivable, the appropriate levels of various accruals including accruals for litigation contingencies, the discount rate used to calculate lease liabilities, 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. Additionally, in the context of the ongoing global COVID-19 pandemic, while there was no material impact to our estimates in the current period, in future periods, facts and circumstances could change and impact our estimates.
Revenue Recognition and Shipping and Handling	Revenue Recognition We derive revenue from the sale of software subscriptions, hosted services, payroll services, merchant payment processing services, packaged software products, live expert advice, financing for small businesses, financial supplies and hardware. We enter into contracts with customers that include promises to transfer various products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Revenue is recognized when the promised goods or services are transferred to customers, in an amount that reflects the consideration allocated to the respective performance obligation. Nature of Products and Services Desktop Offerings Our desktop offerings consist of our QuickBooks Desktop products, which include both packaged software products and software subscriptions, our consumer and professional tax desktop products, which include TurboTax, Lacerte and ProSeries, our desktop payroll products, and merchant payment processing services for small businesses who use our desktop offerings. Our QuickBooks Desktop packaged software products include a perpetual software license as well as enhancements and connected services. We recognize revenue for our QuickBooks Desktop packaged software products at the time the software license is delivered. We have determined that the enhancements and connected services included in our QuickBooks Desktop packaged software products are immaterial within the context of the contract. Our QuickBooks Desktop software subscriptions include a term software license, version protection, enhancements, support and various connected services. We recognize revenue for the software license and version protection at the time they are delivered and recognize revenue for support and connected services over the subscription term as the services are provided. We have determined that the enhancements included in our QuickBooks Desktop software subscriptions are immaterial within the context of the contract. Our consumer and professional tax desktop products include an on-premise tax software license, related tax form updates, electronic filing service and connected services. We recognize revenue for the software license and related tax form updates, as one performance obligation, over the period the forms and updates are delivered. We recognize revenue for our electronic filings service and connected services as those services are provided. We also sell some of our QuickBooks Desktop products and consumer tax desktop products in non-consignment and consignment arrangements to certain retailers. For non-consignment retailers, we begin recognizing revenue when control has transferred to the retailer. For consignment retailers, we begin recognizing revenue when control has transferred to the customer, at the time the end-user sale has occurred. Our desktop payroll products are sold as software subscriptions and include a term software license with a stand-ready obligation to maintain compliance with current payroll tax laws, support and connected services. The term software license and stand-ready obligation to maintain compliance with current payroll tax laws is considered one performance obligation. Each of the performance obligations is considered distinct and control is transferred to the customer over the subscription term. As a result, revenue is recognized ratably over the subscription term as services are provided. We offer merchant payment processing services as a separately paid connected service for our QuickBooks Desktop packaged software products and software subscriptions, and revenue is recognized as the services are provided to the customers. Online Offerings Our online offerings include TurboTax Online and TurboTax Live, ProConnect Tax Online, QuickBooks Online, online payroll, and merchant payment processing services for small businesses who use our online offerings. These online offerings provide customers with the right to use the hosted software over the contract period without taking possession of the software and are billed on either a subscription or consumption basis. Revenue related to our online offerings that are billed on a subscription basis is recognized ratably over the contract period. Revenue related to online offerings that are billed on a consumption basis, is recognized when the customer consumes the related service. Other Solutions Revenue from the sale of our financial supplies, such as printed check stock and hardware, such as retail point-of-sale equipment and credit card readers for mobile phones, is recognized when control is transferred to the customer which is generally when the products are shipped. We also have revenue-sharing and royalty arrangements with third-party partners and recognize this revenue as earned based upon reporting provided to us by our partners. In instances where we do not have reporting from our partners, we estimate revenue based on information available to us at the time. Product Revenue and Service and Other Revenue Product revenue includes revenue from: QuickBooks Desktop software licenses and version protection; consumer and professional tax desktop licenses and the related form updates; desktop payroll licenses and related updates; and financial supplies. Service and other revenue includes revenue from: our online offerings discussed above; support, electronic filing services and connected services included with our desktop offerings; merchant payment processing services for our desktop offerings; and revenue-sharing and royalty arrangements. We record revenue net of sales tax obligations. For payroll services, we generally require customers to remit payroll tax funds to us in advance of the payroll date via electronic funds transfer. We include in total net revenue the interest earned on these funds between the time that we collect them from customers and the time that we remit them to outside parties. Revenue for electronic payment processing services that we provide to merchants is recorded net of interchange fees charged by credit card associations. Judgments and Estimates Our contracts with customers often include promises to transfer multiple products and services to a customer. In determining how revenue should be recognized, a five-step process is used, which requires judgment and estimates. These judgments and estimates include identifying performance obligations in the contract, determining whether the performance obligations are distinct, determining the SSP for each distinct performance obligation, determining the timing of revenue recognition for distinct performance obligations and estimating the amount of variable consideration to include in the transaction price. The functionality of the software licenses included in our consumer and professional tax and payroll desktop offerings is dependent on the related enhancements and updates included in these offerings. Judgment is required to determine whether the software license is considered distinct and accounted for separately, or not distinct and accounted for together with the related updates and recognized over time. Our contracts with customers include promises to transfer various products and services, which are generally capable of being distinct performance obligations. In many cases SSPs for distinct performance obligations are based on directly observable pricing. In instances where the SSP is not directly observable, such as when we do not sell the product or service separately, we determine the SSP using information that may include market conditions and other observable inputs. Our consumer and professional tax desktop products include an on-premise tax software license and related tax form updates that are recognized as the forms and updates are delivered. We measure progress towards complete satisfaction of the software license and related tax form updates using an output method based on the timing of when the tax forms are delivered. We generally provide refunds to customers for product returns and subscription cancellations. We also provide promotional discounts and incentive rebates on retail and distribution sales. These refunds, discounts and incentive rebates are accounted for as variable consideration when estimating the amount of revenue to recognize. Refunds are estimated based on historical experience and current business and economic indicators and updated at the end of each reporting period as additional information becomes available to the extent that it is probable that a significant reversal of any incremental revenue will not occur. Discounts and incentive rebates are estimated based on distributors' and retailers' performance against the terms and conditions of the rebate programs. Deferred Revenue Generally, we receive payment at the time we enter into a contract with a customer. We record deferred revenue when we have entered into a contract with a customer and cash payments are received or due prior to transfer of control or satisfaction of the related performance obligation. During the twelve months ended July 31, 2020 , we recognized revenue of $619 million , that was included in deferred revenue at July 31, 2019 . During the twelve months ended July 31, 2019 , we recognized revenue of $581 million, that was included in deferred revenue at July 31, 2018 . Our performance obligations are generally satisfied within 12 months of the initial contract date. As of July 31, 2020 and 2019 , the deferred revenue balance related to performance obligations that will be satisfied after 12 months was $13 million and $4 million , respectively, and is included in other long-term obligations on our consolidated balance sheets. Assets Recognized from the Costs to Obtain a Contract with a Customer Our internal sales commissions are considered incremental costs of obtaining the contract with a customer. Internal sales commissions for subscription offerings where we expect the benefit of those costs to continue longer than one year are capitalized and amortized ratably over the period of benefit, which ranges from three to four years . Total capitalized costs to obtain a contract are not significant and are included in prepaid expenses and other current assets and other assets on our consolidated balance sheets. We apply a practical expedient to expense costs incurred to obtain a contract with a customer when the period of benefit is less than one year. These costs primarily include internal and external sales commissions for our consumer and professional tax offerings. Shipping and Handling
Customer Service and Technical Support	Customer Service and Technical Support We include the costs of providing customer service under paid technical support contracts and as included in certain software subscriptions on the cost of service and other revenue line in our consolidated statements of operations. We also include the costs of customer service and technical support associated with our online or hosted offerings in cost of service and other revenue. We include the costs of customer service and free technical support related to desktop offerings in selling and marketing expense in our consolidated statements of operations. Customer service and technical support costs include costs associated with performing order processing, answering customer inquiries by telephone and through websites, e-mail and other electronic means, and providing free technical support assistance to customers. We expense the cost of providing this free support as incurred.
Software Development Costs	Software Development Costs We expense software development costs as we incur them until technological feasibility has been established, at which time those costs are capitalized until the product is available for general release to customers. To date, our software has been available for general release concurrent with the establishment of technological feasibility and, accordingly, we have not capitalized any development costs. Costs we incur to enhance our existing products or after the general release of the service using the product are expensed in the period they are incurred and included in research and development expense in our consolidated statements of operations.
Internal Use Software	Internal Use Software We capitalize costs related to development of hosted services that we provide to our customers and internal use of enterprise-level business and finance software in support of our operational needs. Costs incurred in the application development phase are capitalized and amortized on a straight-line basis over their useful lives, which are generally three to six years
Advertising	Advertising
Leases	Leases Our leases are primarily operating leases for office facilities. We do not have significant finance leases. We determine if an arrangement is a lease and classify it as either a finance or operating lease at lease inception. Operating leases are included in operating lease right-of-use (ROU) assets, other current liabilities, and operating lease liabilities on our consolidated balance sheets. Operating lease liabilities are recognized at commencement date based on the present value of the future minimum lease payments over the lease term. Our leases generally do not have a readily determinable implicit rate, therefore we use our incremental borrowing rate at the commencement date in determining the present value of future payments. Our incremental borrowing rate is determined based on a yield curve derived from publicly traded bond offerings for companies with similar credit ratings to us. Our lease terms may include options to purchase, extend or terminate the lease when it is reasonably certain that we will exercise that option. We account for the lease and non-lease components as a single lease component. We measure ROU assets based on the corresponding lease liabilities adjusted for any initial direct costs and prepaid lease payments made to the lessor before or at the commencement date, net of lease incentives. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Variable lease payments are not included in the calculation of the ROU asset and lease liability and are recognized as lease expense is incurred. Our variable lease payments generally relate to amounts paid to lessors for common area maintenance under our real estate leases. Our subleases generally do not relieve us of our primary obligations under the corresponding head lease. As a result, we account for the head lease based on the original assessment at inception. We determine if the sublease arrangement is either a sales-type, direct financing, or operating lease at inception. If the total remaining lease cost on the head lease for the term of the sublease is greater than the anticipated sublease income, the ROU asset is assessed for impairment. Our subleases are generally operating leases and we recognize sublease income on a straight-line basis over the sublease term.
Capitalization of Interest Expense	Capitalization of Interest Expense We capitalize interest on capital projects, including facilities build-out projects and internal use computer software projects. Capitalization commences with the first expenditure for the project and continues until the project is substantially complete and ready for its intended use. We amortize capitalized interest to depreciation expense using the straight-line method over the same lives as the related assets. Capitalized interest was not significant for any period presented.
Foreign Currency	Foreign Currency The functional currencies of our international operating subsidiaries are generally the local currencies. We translate the assets and liabilities of our foreign subsidiaries at the exchange rates in effect on the balance sheet date. We translate their revenue, costs and expenses at the average rates of exchange in effect during the period. We include translation gains and losses in the stockholders’ equity section of our consolidated balance sheets. We include net gains and losses resulting from foreign exchange transactions in interest and other income in our consolidated statements of operations. Translation gains and losses and transaction gains and losses were not significant for any period presented.
Income Taxes	Income Taxes We estimate our income taxes based on the various jurisdictions where we conduct business. Significant judgment is required in determining our worldwide income tax provision. We estimate our current tax liability and assess temporary differences that result from differing treatments of certain items for tax and accounting purposes. These differences result in deferred tax assets and liabilities, which we show on our consolidated balance sheet. We must then assess the likelihood that our deferred tax assets will be realized. To the extent we believe that realization is not likely, we establish a valuation allowance. When we establish a valuation allowance or increase this allowance in an accounting period, we record a corresponding income tax expense in our consolidated statement of operations. We review the need for a valuation allowance to reflect uncertainties about whether we will be able to utilize some of our deferred tax assets before they expire. The valuation allowance analysis is based on our estimates of taxable income for the jurisdictions in which we operate and the periods over which our deferred tax assets will be realizable. While we have considered future taxable income in assessing the need for a valuation allowance for the periods presented, we could be required to record a valuation allowance to take into account additional deferred tax assets that we may be unable to realize. An increase in the valuation allowance would have an adverse impact, which could be material, on our income tax provision and net income in the period in which we record the increase. We recognize and measure benefits for uncertain tax positions using a two-step approach. The first step is to evaluate the tax position taken or expected to be taken in a tax return by determining if the weight of available evidence indicates that it is more likely than not that the tax position will be sustained upon audit, including resolution of any related appeals or litigation processes. For tax positions that are more likely than not of being sustained upon audit, the second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. Significant judgment is required to evaluate uncertain tax positions. We evaluate our uncertain tax positions on a quarterly basis. Our evaluations are based upon a number of factors, including changes in facts or circumstances, changes in tax law, correspondence with tax authorities during the course of audits and effective settlement of audit issues. Changes in the recognition or measurement of uncertain tax positions could result in material increases or decreases in our income tax expense in the period in which we make the change, which could have a material impact on our effective tax rate and operating results. A description of our accounting policies associated with tax-related contingencies and valuation allowances assumed as part of a business combination is provided under “Business Combinations” below.
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. 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.
Cash Equivalents and Investments	Cash Equivalents and Investments We consider highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents. In all periods presented, cash equivalents consist primarily of time deposits, savings deposit accounts, and money market funds. Investments consist primarily of investment-grade available-for-sale debt securities. 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 by limiting our holdings with any individual issuer. We use the specific identification method to compute gains and losses on investments. We record unrealized gains and losses on investments, net of tax, in accumulated other comprehensive income in the stockholders’ equity section of our consolidated balance sheets and reflect unrealized gain and loss activity in other comprehensive income on our consolidated statement of comprehensive income. We generally classify available-for-sale debt securities as current assets based upon our ability and intent to use any and all of these securities as necessary to satisfy the significant short-term liquidity requirements that may arise from the highly seasonal nature of our businesses. Because of our significant business seasonality, stock repurchase programs, and acquisition opportunities, cash flow requirements may fluctuate dramatically from quarter to quarter and require us to use a significant amount of the investments we hold as available-for-sale.
Accounts and Notes Receivable and Allowance for Doubtful Accounts and Loan Losses	Accounts Receivable and Allowances for Doubtful Accounts Accounts receivable are recorded at the invoiced amount and are not interest bearing. We maintain an allowance for doubtful accounts to reserve for potentially uncollectible receivables. We review our accounts receivable by aging category to identify significant customers or invoices with known disputes or collectibility issues. For those invoices not specifically identified as uncollectible, we provide an allowance based on the age of the receivable. In determining the amount of the allowance, we make judgments about the creditworthiness of significant customers based on ongoing credit evaluations. We also consider our historical level of credit losses and current economic trends that might impact the level of future credit losses. When we determine that amounts are uncollectible we write them off against the allowance. Notes Receivable and Allowances for Loan Losses Notes receivable consist of term loans to small businesses and are included in prepaid expenses and other current assets on our consolidated balance sheets. As of July 31, 2020 and July 31, 2019 , the notes receivable balance was $40 million and $95 million , respectively, and the allowances for loan losses were not material. The term loans are not secured and are recorded at amortized cost, net of allowances for loan losses. We maintain an allowance for loan losses to reserve for potentially uncollectible notes receivable. We evaluate the creditworthiness of our loan portfolio on a pooled basis due to its composition of small, homogeneous loans with similar general credit risk and characteristics and apply a loss rate at the time of loan origination. The loss rate and underlying model are updated periodically to reflect actual loan performance and changes in assumptions. We make judgments about the known and inherent risks in the loan portfolio, adverse situations that may affect borrowers’ ability to repay and current economic conditions. When we determine that amounts are uncollectible, we write them off against the allowance.
Funds Held for Customers and Customer Fund Deposits	Funds Held for Customers and Customer Fund Deposits Funds held for customers represent cash held on behalf of our customers that is invested in cash and cash equivalents and investment-grade available-for-sale debt securities, restricted for use solely for the purpose of satisfying amounts we owe on behalf of our customers. Customer fund deposits consist of amounts we owe on behalf of our customers, such as direct deposit payroll funds and payroll taxes.
Property and Equipment	Property and Equipment Property and equipment is stated at the lower of cost or realizable value, net of accumulated depreciation. We calculate depreciation using the straight-line method over the estimated useful lives of the assets, which range from two to 30 years . We amortize leasehold improvements using the straight-line method over the lesser of their estimated useful lives or remaining
Business Combinations	Business Combinations The acquisition method of accounting for business combinations requires us to use significant estimates and assumptions, including fair value estimates, as of the business combination date and to refine those estimates as necessary during the measurement period (defined as the period, not to exceed one year , in which we may adjust the provisional amounts recognized for a business combination). Under the acquisition method of accounting we recognize separately from goodwill the identifiable assets acquired, the liabilities assumed, and any noncontrolling interests in an acquiree, generally at the acquisition date fair value. We measure goodwill as of the acquisition date as the excess of consideration transferred, which we also measure at fair value, over the net of the acquisition date amounts of the identifiable assets acquired and liabilities assumed. Costs that we incur to complete the business combination such as investment banking, legal and other professional fees are not considered part of consideration and we charge them to general and administrative expense as they are incurred. Under the acquisition method we also account for acquired company restructuring activities that we initiate separately from the business combination. Should the initial accounting for a business combination be incomplete by the end of a reporting period that falls within the measurement period, we report provisional amounts in our financial statements. During the measurement period, we adjust the provisional amounts recognized at the acquisition date to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date and we record those adjustments to our financial statements. We apply those measurement period adjustments that we determine to be significant retrospectively to comparative information in our financial statements, including adjustments to depreciation and amortization expense. Under the acquisition method of accounting for business combinations, if we identify changes to acquired deferred tax asset valuation allowances or liabilities related to uncertain tax positions during the measurement period and they relate to new information obtained about facts and circumstances that existed as of the acquisition date, those changes are considered a measurement period adjustment and we record the offset to goodwill. We record all other changes to deferred tax asset valuation allowances and liabilities related to uncertain tax positions in current period income tax expense. This accounting applies to all of our acquisitions regardless of acquisition date.
Goodwill, Acquired Intangible Assets and Other Long-Lived Assets	Goodwill, Acquired Intangible Assets and Other Long-Lived Assets Goodwill We record goodwill when the fair value of consideration transferred in a business combination exceeds the fair value of the identifiable assets acquired and liabilities assumed. Goodwill and other intangible assets that have indefinite useful lives are not amortized, but we test them for impairment annually during our fourth fiscal quarter and whenever an event or change in circumstances indicates that the carrying value of the asset may not be recoverable. For goodwill, we perform a two-step impairment test. In the first step, we compare the fair value of each reporting unit to its carrying value. In accordance with authoritative guidance, we define fair value as the price that would be received from the sale of an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. We consider and use all valuation methods that are appropriate in estimating the fair value of our reporting units and generally use a weighted combination of income and market approaches. Under the income approach, we estimate the fair value of each reporting unit based on the present value of future cash flows. We use a number of assumptions in our discounted cash flow model, including market factors specific to the business, the amount and timing of estimated future cash flows to be generated by the business over an extended period of time, long-term growth rates for the business, and a rate of return that considers the relative risk of achieving the cash flows and the time value of money. Under the market approach, we estimate the fair value of each reporting unit based on market multiples of revenue, operating income, and earnings for comparable publicly traded companies engaged in similar businesses. If the estimated fair value of the reporting unit exceeds the carrying value of the net assets assigned to that unit, goodwill is not impaired and no further analysis is required. Acquired Intangible Assets and Other Long-Lived Assets We generally record acquired intangible assets that have finite useful lives, such as purchased technology, in connection with business combinations. We amortize the cost of acquired intangible assets on a straight-line basis over their estimated useful lives, which range from three to seven years
Share-Based Compensation Plans	Share-Based Compensation Plans We estimate the fair value of stock options granted using a lattice binomial model and a multiple option award approach. We amortize the fair value of stock options on a straight-line basis over the requisite service periods of the awards, which are generally the vesting periods. Restricted stock units (RSUs) granted typically vest based on continued service. We value these time-based RSUs at the date of grant using the intrinsic value method. We amortize the fair value of time-based RSUs on a straight-line basis over the service period. Certain RSUs granted to senior management vest based on the achievement of pre-established performance or market goals. We estimate the fair value of performance-based RSUs at the date of grant using the intrinsic value method and the probability that the specified performance criteria would be met. Each quarter we update our assessment of the probability that the specified performance criteria will be achieved and adjust our estimate of the fair value of the performance-based RSUs if necessary. We amortize the fair values of performance-based RSUs over the requisite service period for each separately vesting tranche of the award. We estimate the fair value of market-based RSUs at the date of grant using a Monte Carlo valuation methodology and amortize those fair values over the requisite service period for each separately vesting tranche of the award. The Monte Carlo methodology that we use to estimate the fair value of market-based RSUs at the date of grant incorporates into the valuation the possibility that the market condition may not be satisfied. Provided that the requisite service is rendered, the total fair value of the market-based RSUs at the date of grant must be recognized as compensation expense even if the market condition is not achieved. However, the number of shares that ultimately vest can vary significantly with the performance of the specified market criteria. All of the RSUs we grant have dividend rights that are subject to the same vesting requirements as the underlying equity awards, so we do not adjust the intrinsic (market) value of our RSUs for dividends.
Concentration of Credit Risk and Significant Customers and Suppliers	We rely primarily on one third-party vendor to perform the manufacturing and distribution functions for our retail desktop software products. We also have a key single-source vendor that prints and fulfills orders for most of our financial supplies business. While we believe that relying on key vendors improves the efficiency and reliability of our business operations, relying on any one vendor for a significant aspect of our business can have a significant negative impact on our revenue and profitability if that vendor fails to perform at acceptable service levels for any reason, including financial difficulties of the vendor. Concentration of Credit Risk and Significant Customers and Suppliers We operate in markets that are highly competitive and rapidly changing. Significant technological changes, shifting customer needs, the emergence of competitive products or services with new capabilities and other factors could negatively impact our operating results. We are also subject to risks related to changes in the value of our significant balance of investments. Our portfolio of investments consists of investment-grade securities. 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 by limiting our holdings with any individual issuer. We sell a portion of our products through third-party retailers and distributors. As a result, we face risks related to the collectibility of our accounts receivable. To appropriately manage this risk, we perform ongoing evaluations of customer credit and limit the amount of credit extended as we deem appropriate, but generally do not require collateral. We maintain reserves for estimated credit losses and these losses have historically been within our expectations. However, since we cannot predict future changes in the financial stability of our customers, we cannot guarantee that our reserves will continue to be adequate.
Accounting Standards Recently Adopted/Accounting Standards Not Yet Adopted	Accounting Standards Recently Adopted Leases - In February 2016 the Financial Accounting Standards Board (FASB) issued ASU 2016-02, “ Leases (Topic 842).” This 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. We adopted this standard in the first quarter of our fiscal year beginning August 1, 2019 using the modified retrospective approach, under which financial results reported in prior periods were not adjusted. We elected certain practical expedients, including the relief package practical expedient which among other things allowed us to carry forward the historical lease classifications. We also elected the practical expedient to combine lease and non-lease components for all asset classes. The adoption of ASC 842 on August 1, 2019 resulted in the recognition of ROU assets and operating lease liabilities of $319 million and $361 million , respectively, related to our operating leases. Adoption of the standard also resulted in the elimination of deferred rent liabilities of $47 million and prepaid rent of $5 million . Adoption did not result in any cumulative-effect adjustments to retained earnings, and there was no material impact to our consolidated statements of operations or our consolidated statements of cash flows. Accounting Standards Not Yet Adopted Internal-Use Software - In August 2018 the FASB issued Accounting Standards Update (ASU) 2018-15, “ Intangibles—Goodwill and Other (Topic 350): Internal-Use Software.” This standard aligns the requirements for capitalizing implementation costs incurred in a cloud computing arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. 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 do not expect the adoption of ASU 2018-15 to have a material impact on our consolidated financial statements. Goodwill Impairment - In January 2017 the FASB issued ASU 2017-04, “ Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” This 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 do not expect the adoption of ASU 2017-04 to have a material impact on our consolidated financial statements. Financial Instruments - In June 2016 the FASB issued ASU 2016-13, “ Financial Instruments—Credit Losses (Topic 326). ” This 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 do not expect the adoption of ASU 2016-13 to have a material impact on our consolidated financial statements. We do not expect that any other recently issued accounting pronouncements will have a significant effect on our financial statements.

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Jul. 31, 2020
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. Twelve Months Ended July 31, (In millions, except per share amounts) 2020 2019 2018 Numerator: Net income $ 1,826 $ 1,557 $ 1,329 Denominator: Shares used in basic per share amounts: Weighted average common shares outstanding 261 260 256 Shares used in diluted per share amounts: Weighted average common shares outstanding 261 260 256 Dilutive common equivalent shares from stock options and restricted stock awards 3 4 5 Dilutive weighted average common shares outstanding 264 264 261 Basic and diluted net income per share: Basic net income per share $ 6.99 $ 5.99 $ 5.18 Diluted net income per share $ 6.92 $ 5.89 $ 5.09 Shares excluded from diluted net income per share: Weighted average stock options and restricted stock units that have been excluded from dilutive common equivalent shares outstanding due to their anti-dilutive effect — 1 —

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Jul. 31, 2020
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. At July 31, 2020 At July 31, 2019 (In millions) Level 1 Level 2 Total Fair Value Level 1 Level 2 Total Fair Value Assets: Cash equivalents, primarily time deposits, savings deposit accounts, and money market funds $ 5,765 $ — $ 5,765 $ 1,647 $ — $ 1,647 Available-for-sale debt securities: Municipal bonds — 9 9 — 5 5 Corporate notes — 752 752 — 800 800 U.S. agency securities — 47 47 — 19 19 Total available-for-sale securities — 808 808 — 824 824 Total assets measured at fair value on a recurring basis $ 5,765 $ 808 $ 6,573 $ 1,647 $ 824 $ 2,471 Liabilities: Senior unsecured notes (1) $ — $ 2,042 $ 2,042 $ — $ — $ — (1) Carrying value on our balance sheet at July 31, 2020 was $1.98 billion . See Note 8 , “ Long-Term Obligations and Commitments ” for more information.
Cash equivalents and available-for-sale debt and equity securities by balance sheet classification and level in the fair value hierarchy	The following table summarizes our cash equivalents and available-for-sale debt securities by balance sheet classification and level in the fair value hierarchy at the dates shown: At July 31, 2020 At July 31, 2019 (In millions) Level 1 Level 2 Total Fair Value Level 1 Level 2 Total Fair Value Cash equivalents: In cash and cash equivalents $ 5,765 $ — $ 5,765 $ 1,647 $ — $ 1,647 Available-for-sale debt securities: In investments $ — $ 608 $ 608 $ — $ 624 $ 624 In funds held for customers — 200 200 — 200 200 Total available-for-sale debt securities $ — $ 808 $ 808 $ — $ 824 $ 824

Cash and Cash Equivalents, In_2

Cash and Cash Equivalents, Investments, and Funds Held for Customers (Tables)	12 Months Ended
	Jul. 31, 2020
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. July 31, 2020 July 31, 2019 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value Classification on consolidated balance sheets: Cash and cash equivalents $ 6,442 $ 6,442 $ 2,116 $ 2,116 Investments 600 608 622 624 Funds held for customers 455 455 436 436 Long-term investments 19 19 13 13 Total cash and cash equivalents, investments, and funds held for customers $ 7,516 $ 7,524 $ 3,187 $ 3,189
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. July 31, 2020 July 31, 2019 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value Type of issue: Total cash, cash equivalents, restricted cash, and restricted cash equivalents $ 6,697 $ 6,697 $ 2,352 $ 2,352 Available-for-sale debt securities: Municipal bonds 9 9 5 5 Corporate notes 744 752 798 800 U.S. agency securities 47 47 19 19 Total available-for-sale debt securities 800 808 822 824 Other long-term investments 19 19 13 13 Total cash, cash equivalents, restricted cash, restricted cash equivalents, and investments $ 7,516 $ 7,524 $ 3,187 $ 3,189
Available-for-sale debt securities classified by the stated maturity date of the security	The following table summarizes our available-for-sale debt securities, included in investments and funds held for customers, classified by the stated maturity date of the security at the dates indicated. July 31, 2020 July 31, 2019 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value Due within one year $ 389 $ 390 $ 415 $ 416 Due within two years 256 261 208 208 Due within three years 137 139 163 164 Due after three years 18 18 36 36 Total available-for-sale debt securities $ 800 $ 808 $ 822 $ 824
Schedule of funds held for customers	The following table summarizes our funds held for customers by investment category at the dates indicated. July 31, 2020 July 31, 2019 July 31, 2018 July 31, 2017 (In millions) Restricted cash and restricted cash equivalents $ 255 $ 236 $ 167 $ 172 Restricted available-for-sale debt securities 200 200 200 200 Total funds held for customers $ 455 $ 436 $ 367 $ 372

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Jul. 31, 2020
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	Property and equipment consisted of the following at the dates indicated: Life in July 31, (Dollars in millions) Years 2020 2019 Equipment 3-5 $ 226 $ 421 Computer software 2-6 870 860 Furniture and fixtures 5 93 90 Leasehold improvements 2-16 298 278 Land NA 79 79 Buildings 5-30 372 368 Capital in progress NA 90 65 2,028 2,161 Less accumulated depreciation and amortization (1,294 ) (1,381 ) Total property and equipment, net $ 734 $ 780 __________________________ NA = Not Applicable

Goodwill and Acquired Intangi_2

Goodwill and Acquired Intangible Assets (Tables)	12 Months Ended
	Jul. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying value of goodwill by reportable segment	Changes in the carrying value of goodwill by reportable segment during the twelve months ended July 31, 2020 and July 31, 2019 were as shown in the following table. Our reportable segments are described in Note 14 , “Segment Information.” (In millions) Balance Goodwill Acquired/ Adjusted Balance Goodwill Acquired/ Adjusted Balance Small Business & Self-Employed $ 1,496 $ 22 $ 1,518 $ — $ 1,518 Consumer 23 19 42 — 42 Strategic Partner 92 3 95 (1 ) 94 Totals $ 1,611 $ 44 $ 1,655 $ (1 ) $ 1,654
Cost, accumulated amortization and weighted average life in years for acquired intangible assets	The following table shows the cost, accumulated amortization and weighted average life in years for our acquired intangible assets at the dates indicated. The weighted average lives are calculated for assets that are not fully amortized. (Dollars in millions) Customer Lists Purchased Technology Trade Names and Logos Covenants Not to Compete or Sue Total At July 31, 2020: Cost $ 256 $ 421 $ 25 $ 42 $ 744 Accumulated amortization (248 ) (404 ) (25 ) (39 ) (716 ) Acquired intangible assets, net $ 8 $ 17 $ — $ 3 $ 28 Weighted average life in years 5 3 NA 3 4 At July 31, 2019: Cost $ 256 $ 422 $ 25 $ 39 $ 742 Accumulated amortization (245 ) (383 ) (24 ) (36 ) (688 ) Acquired intangible assets, net $ 11 $ 39 $ 1 $ 3 $ 54 Weighted average life in years 5 3 3 3 4
Expected future amortization expense for acquired intangible assets	The following table shows the expected future amortization expense for our acquired intangible assets at July 31, 2020 . Amortization of purchased technology is charged to cost of service and other revenue and to amortization of acquired technology in our consolidated statements of operations. Amortization of other acquired intangible assets such as customer lists is charged to amortization of other acquired intangible assets in our consolidated statements of operations. If impairment events occur, they could accelerate the timing of acquired intangible asset charges. (In millions) Expected Future Amortization Expense Twelve months ending July 31, 2021 $ 17 2022 10 2023 1 2024 — 2025 — Thereafter — Total expected future amortization expense $ 28

Current Liabilities (Tables)

Current Liabilities (Tables)	12 Months Ended
	Jul. 31, 2020
Other Liabilities Disclosure [Abstract]
Other current liabilities	Other current liabilities were as follows at the dates indicated: July 31, (In millions) 2020 2019 Executive deferred compensation plan liabilities $ 123 $ 108 Current portion of operating lease liabilities 46 — Reserve for returns and credits 24 24 Reserve for promotional discounts and rebates 11 11 Current portion of dividend payable 6 7 Current portion of deferred rent — 6 Interest payable 3 — Other 84 46 Total other current liabilities $ 297 $ 202

Long-Term Obligations and Com_2

Long-Term Obligations and Commitments (Tables)	12 Months Ended
	Jul. 31, 2020
Long-Term Obligations and Commitments [Abstract]
Carrying Value of Senior Unsecured Debt	The carrying value of the Notes was as follows at the date indicated: July 31, Effective (In millions) 2020 Interest Rate Senior unsecured notes issued June 2020: 0.650% notes due July 2023 $ 500 0.837% 0.950% notes due July 2025 500 1.127% 1.350% notes due July 2027 500 1.486% 1.650% notes due July 2030 500 1.767% Total senior unsecured notes 2,000 Unamortized discount and debt issuance costs (17 ) Net carrying value senior unsecured notes $ 1,983
Future Principal Payments for Long-Term Debt	Future principal payments for long-term debt at July 31, 2020 were as shown in the table below. (In millions) Fiscal year ending July 31, 2021 $ — 2022 — 2023 548 2024 — 2025 500 Thereafter 1,000 Total commitments $ 2,048
Other long-term obligations	Other long-term obligations were as follows at the dates indicated: July 31, (In millions) 2020 2019 Long-term income tax liabilities $ 10 $ 89 Total deferred rent — 47 Total dividend payable 12 11 Other 30 12 Total long-term obligations 52 159 Less current portion (included in other current liabilities) (10 ) (14 ) Long-term obligations due after one year $ 42 $ 145
Annual minimum commitments under purchase obligations and operating leases	Annual minimum commitments under purchase obligations at July 31, 2020 were as shown in the table below. (In millions) Purchase Obligations Fiscal year ending July 31, 2021 $ 135 2022 49 2023 19 2024 — 2025 — Thereafter — Total commitments $ 203

Leases (Tables)

Leases (Tables)	12 Months Ended
	Jul. 31, 2020
Leases [Abstract]
Components of Lease Expense	The components of lease expense were as follows: Twelve Months Ended (In millions) July 31, 2020 Operating lease cost (1) $ 69 Variable lease cost 13 Sublease income (22 ) Total net lease cost $ 60 Supplemental balance sheet information related to operating leases was as follows at the date indicated: (In millions) July 31, Operating lease right-of-use assets $ 226 Other current liabilities $ 46 Operating lease liabilities 221 Total operating lease liabilities $ 267 Supplemental cash flow information related to operating leases was as follows: Twelve Months Ended July 31, 2020 (In millions) Cash paid for amounts included in the measurement of operating lease liabilities $ 70 Right-of-use assets obtained in exchange for new operating lease liabilities (1) $ 346 (1) For the twelve months ended July 31, 2020 , this includes $319 million for operating leases existing on August 1, 2019 and $27 million for operating leases that commenced during fiscal 2020 . Other information related to operating leases was as follows at the date indicated: July 31, 2020 Weighted-average remaining lease term for operating leases (in years) 5.5 Weighted-average discount rate for operating leases 3.1 %
Future Minimum Lease Payments	Future minimum lease payments under non-cancellable operating leases as of July 31, 2020 were as follows: (In millions) Operating Leases (1) Fiscal year ending July 31, 2021 $ 53 2022 57 2023 51 2024 49 2025 38 Thereafter 43 Total future minimum lease payments 291 Less imputed interest (24 ) Present value of lease liabilities $ 267 (1) Non-cancellable sublease proceeds for the fiscal years ending July 31, 2021 , 2022 , 2023 , 2024 , and 2025 of $15 million , $10 million , $2 million , $1 million , and $1 million , respectively, are not included in the table above.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jul. 31, 2020
Income Tax Disclosure [Abstract]
Provision for income taxes from continuing operations	The provision for income taxes consisted of the following for the periods indicated: Twelve Months Ended July 31, (In millions) 2020 2019 2018 Current: Federal $ 372 $ 271 $ 197 State 79 67 38 Foreign 21 14 14 Total current 472 352 249 Deferred: Federal (47 ) (23 ) (14 ) State (47 ) (4 ) 2 Foreign (6 ) (1 ) — Total deferred (100 ) (28 ) (12 ) Total provision for income taxes $ 372 $ 324 $ 237
Sources of income from continuing operations before the provision for income taxes	The sources of income before the provision for income taxes consisted of the following for the periods indicated: Twelve Months Ended July 31, (In millions) 2020 2019 2018 United States $ 2,206 $ 1,826 $ 1,528 Foreign (8 ) 55 38 Total $ 2,198 $ 1,881 $ 1,566
Differences between income taxes calculated using the federal statutory income tax rate and the provision for income taxes from continuing operations	Differences between income taxes calculated using the federal statutory income tax rate and the provision for income taxes were as follows for the periods indicated: Twelve Months Ended July 31, (In millions) 2020 2019 2018 Income before income taxes $ 2,198 $ 1,881 $ 1,566 U.S. federal statutory rate 21 % 21 % 26.9 % Statutory federal income tax $ 462 $ 395 $ 420 State income tax, net of federal benefit 25 50 29 Federal research and experimentation credits (54 ) (48 ) (38 ) Domestic production activities deduction — — (28 ) Share-based compensation 22 15 11 Federal excess tax benefits related to share-based compensation (79 ) (106 ) (94 ) 2017 Tax Act - Deferred tax re-measurement — — (29 ) Capital loss on subsidiary reorganization — — (35 ) Effects of non-U.S. operations 13 13 1 Other, net (17 ) 5 — Total provision for income taxes $ 372 $ 324 $ 237
Components of deferred tax assets and liabilities	Significant deferred tax assets and liabilities were as follows at the dates indicated: July 31, (In millions) 2020 2019 Deferred tax assets: Accruals and reserves not currently deductible $ 23 $ 13 Operating lease liabilities 64 — Accrued and deferred compensation 112 48 Loss and tax credit carryforwards 114 117 Intangible assets 26 — Share-based compensation 44 47 Other, net 13 11 Total gross deferred tax assets 396 236 Valuation allowance (132 ) (107 ) Total deferred tax assets 264 129 Deferred tax liabilities: Deferred revenue 68 66 Operating lease right-of-use assets 55 — Intangibles 45 71 Property and equipment 22 20 Other, net 11 8 Total deferred tax liabilities 201 165 Net deferred tax assets (liabilities) $ 63 $ (36 )
Components of net deferred tax assets, net of valuation allowances	The components of total net deferred tax liabilities, net of valuation allowances, as shown on our consolidated balance sheets were as follows at the dates indicated: July 31, (In millions) 2020 2019 Long-term deferred income taxes $ 65 $ 1 Long-term deferred income tax liabilities (2 ) (37 ) Net deferred tax assets (liabilities) $ 63 $ (36 )
Aggregate changes in the balance of gross unrecognized tax benefits	The aggregate changes in the balance of our gross unrecognized tax benefits were as follows for the periods indicated: Twelve Months Ended July 31, (In millions) 2020 2019 2018 Gross unrecognized tax benefits, beginning balance $ 120 $ 90 $ 61 Increases related to tax positions from prior fiscal years, including acquisitions 2 13 10 Decreases related to tax positions from prior fiscal years (35 ) — (3 ) Increases related to tax positions taken during current fiscal year 21 23 23 Settlements with tax authorities (1 ) (1 ) (1 ) Lapse of statute of limitations (6 ) (5 ) — Gross unrecognized tax benefits, ending balance $ 101 $ 120 $ 90

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Jul. 31, 2020
Share-based Payment Arrangement [Abstract]
Total share-based compensation expense	The following table summarizes the total share-based compensation expense that we recorded in operating income for the periods shown. Twelve Months Ended July 31, (In millions except per share amounts) 2020 2019 2018 Cost of product revenue $ 1 $ 1 $ 3 Cost of service and other revenue 59 57 40 Selling and marketing 116 103 101 Research and development 151 136 133 General and administrative 108 104 105 Total share-based compensation expense 435 401 382 Income tax benefit (173 ) (200 ) (199 ) Decrease in net income $ 262 $ 201 $ 183 Decrease in net income per share: Basic $ 1.00 $ 0.77 $ 0.71 Diluted $ 0.99 $ 0.76 $ 0.70
Assumptions to estimate the fair value of stock options granted and shares purchased under Employee Stock Purchase Plan	We used the following assumptions to estimate the fair value of stock options granted and shares purchased under our Employee Stock Purchase Plan for the periods indicated: Twelve Months Ended July 31, 2020 2019 2018 Assumptions for stock options: Expected volatility (range) 32 % 26% - 27% 25 % Weighted average expected volatility 32 % 27 % 25 % Risk-free interest rate (range) 0.20 % 1.84% - 2.92% 2.84 % Expected dividend yield 0.70 % 0.67% - 0.85% 0.72 % Assumptions for ESPP: Expected volatility (range) 23% - 72% 21% - 33% 20% - 25% Weighted average expected volatility 39 % 26 % 23 % Risk-free interest rate (range) 0.24% - 2.23% 1.94% - 2.44% 1.05% - 1.96% Expected dividend yield 0.74% - 0.95% 0.73% - 0.95% 0.87% - 1.10% Share-Based Awards Available for Grant
Share-based awards available for grant	A summary of share-based awards available for grant under our 2005 Equity Incentive Plan for the fiscal periods indicated was as follows: (Shares in thousands) Shares Available for Grant Balance at July 31, 2017 25,164 Restricted stock units granted (1) (6,504 ) Options granted (455 ) Share-based awards canceled/forfeited/expired (1)(2) 4,586 Balance at July 31, 2018 22,791 Restricted stock units granted (1) (5,639 ) Options granted (487 ) Share-based awards canceled/forfeited/expired (1)(2) 4,393 Balance at July 31, 2019 21,058 Restricted stock units granted (1) (6,111 ) Options granted (382 ) Share-based awards canceled/forfeited/expired (1)(2) 3,482 Balance at July 31, 2020 18,047 (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 RSUs 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 RSUs that were granted on or after July 21, 2016 are also returned to the pool of shares available for grant. Stock options and RSUs canceled, expired or forfeited under older expired plans are not returned to the pool of shares available for grant.
Summary of restricted stock unit activity	A summary of restricted stock unit (RSU) activity for the periods indicated was as follows: (Shares in thousands) Number of Shares Weighted Average Grant Date Fair Value Nonvested at July 31, 2017 8,636 $98.76 Granted 2,828 185.53 Unregistered restricted stock granted in connection with acquisitions 75 163.00 Vested (2,960 ) 105.71 Forfeited (1,196 ) 88.59 Nonvested at July 31, 2018 7,383 131.50 Granted 2,452 245.40 Vested (3,123 ) 129.31 Forfeited (1,029 ) 107.40 Nonvested at July 31, 2019 5,683 186.22 Granted 2,657 271.80 Vested (2,039 ) 180.40 Forfeited (637 ) 154.91 Nonvested at July 31, 2020 5,664 $231.97
Additional information regarding RSUs	Additional information regarding our RSUs is shown in the table below. Twelve Months Ended July 31, (In millions) 2020 2019 2018 Total fair market value of shares vested $ 620 $ 676 $ 527 Share-based compensation for RSUs $ 382 $ 351 $ 326 Total tax benefit related to RSU share-based compensation expense $ 134 $ 141 $ 143 Cash tax benefits realized for tax deductions for RSUs $ 139 $ 150 $ 142
Stock option activity	A summary of stock option activity for the periods indicated was as follows: Options Outstanding (Shares in thousands) Number of Shares Weighted Average Exercise Price Per Share Balance at July 31, 2017 7,488 $104.50 Granted 455 216.64 Exercised (2,416 ) 89.41 Canceled or expired (373 ) 121.31 Balance at July 31, 2018 5,154 120.26 Granted 487 274.26 Exercised (1,924 ) 102.49 Canceled or expired (343 ) 138.59 Balance at July 31, 2019 3,374 150.75 Granted 382 303.94 Exercised (993 ) 111.82 Canceled or expired (82 ) 188.39 Balance at July 31, 2020 2,681 $185.83
Stock options outstanding	Information regarding stock options outstanding as of July 31, 2020 is summarized below: Number of Shares (in thousands) Weighted Average Remaining Contractual Life (in Years) Weighted Average Exercise Price per Share Aggregate Intrinsic Value (in millions) Options outstanding 2,681 4.39 $185.83 $323 Options exercisable 1,808 3.51 $141.76 $298
Additional information regarding stock options and ESPP shares	Additional information regarding our stock options and ESPP shares is shown in the table below. Twelve Months Ended July 31, (In millions except per share amounts) 2020 2019 2018 Weighted average fair value of options granted (per share) $ 74.85 $ 63.18 $ 50.77 Total grant date fair value of options vested $ 28 $ 30 $ 38 Aggregate intrinsic value of options exercised $ 159 $ 248 $ 188 Share-based compensation expense for stock options and ESPP $ 53 $ 50 $ 56 Total tax benefit for stock option and ESPP share-based compensation $ 39 $ 59 $ 56 Cash received from option exercises $ 111 $ 197 $ 216 Cash tax benefits realized related to tax deductions for non-qualified option exercises and disqualifying dispositions under all share-based payment arrangements $ 39 $ 58 $ 53
Components of accumulated other comprehensive loss, net of income taxes	The following table shows the components of accumulated other comprehensive loss, net of income taxes, in the stockholders’ equity section of our consolidated balance sheets at the dates indicated. July 31, (In millions) 2020 2019 Unrealized gain on available-for-sale debt securities $ 6 $ 1 Foreign currency translation adjustments (38 ) (37 ) Total accumulated other comprehensive loss $ (32 ) $ (36 )

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Jul. 31, 2020
Segment Reporting [Abstract]
Financial results by reportable segment and significant product and service	The following table shows our financial results by reportable segment for the periods indicated. Twelve Months Ended July 31, (In millions) 2020 2019 2018 Net revenue: Small Business & Self-Employed $ 4,050 $ 3,533 $ 3,061 Consumer 3,136 2,775 2,508 Strategic Partner 493 476 456 Total net revenue $ 7,679 $ 6,784 $ 6,025 Operating income: Small Business & Self-Employed $ 1,911 $ 1,549 $ 1,326 Consumer 1,942 1,742 1,587 Strategic Partner 333 318 284 Total segment operating income 4,186 3,609 3,197 Unallocated corporate items: Share-based compensation expense (435 ) (401 ) (382 ) Other common expenses (1,547 ) (1,328 ) (1,234 ) Amortization of acquired technology (22 ) (20 ) (15 ) Amortization of other acquired intangible assets (6 ) (6 ) (6 ) Total unallocated corporate items (2,010 ) (1,755 ) (1,637 ) Total operating income $ 2,176 $ 1,854 $ 1,560 Revenue classified by significant product and service offerings was as follows: Twelve Months Ended July 31, (In millions) 2020 2019 2018 Net revenue: QuickBooks Online Accounting $ 1,354 $ 980 $ 695 Online Services 828 683 511 Total Online Ecosystem 2,182 1,663 1,206 QuickBooks Desktop Accounting 755 732 716 Desktop Services and Supplies 1,113 1,138 1,139 Total Desktop Ecosystem 1,868 1,870 1,855 Small Business & Self-Employed 4,050 3,533 3,061 Consumer 3,136 2,775 2,508 Strategic Partner 493 476 456 Total net revenue $ 7,679 $ 6,784 $ 6,025

Selected Quarterly Financial _2

Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Jul. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Schedule of quarterly financial information	The following tables contain selected quarterly financial data for the twelve months ended July 31, 2020 and July 31, 2019 . Fiscal 2020 Quarter Ended (In millions, except per share amounts) October 31 January 31 April 30 July 31 Total net revenue $ 1,165 $ 1,696 $ 3,002 $ 1,816 Cost of revenue 290 340 426 322 All other costs and expenses 865 1,086 1,163 1,011 Operating income 10 270 1,413 483 Net income 57 240 1,084 445 Basic net income per share $ 0.22 $ 0.92 $ 4.15 $ 1.70 Diluted net income per share $ 0.22 $ 0.91 $ 4.11 $ 1.68 Fiscal 2019 Quarter Ended (In millions, except per share amounts) October 31 January 31 April 30 July 31 Total net revenue $ 1,016 $ 1,502 $ 3,272 $ 994 Cost of revenue 247 285 354 281 All other costs and expenses 779 984 1,134 866 Operating income (loss) (10 ) 233 1,784 (153 ) Net income (loss) 34 189 1,378 (44 ) Basic net income (loss) per share $ 0.13 $ 0.73 $ 5.30 $ (0.17 ) Diluted net income (loss) per share $ 0.13 $ 0.72 $ 5.22 $ (0.17 )

Description of Business and S_4

Description of Business and Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018	Aug. 01, 2019
Property, Plant and Equipment [Line Items]
Net change in customer fund deposits	$ (19,000,000)	$ (69,000,000)	$ 5,000,000
Deferred revenue, revenue recognized	$ 619,000,000	581,000,000
Revenue, performance obligation, description of timing	P12M
Long-term deferred revenue	$ 13,000,000	4,000,000
Advertising expense	778,000,000	800,000,000	615,000,000
Notes receivable	$ 40,000,000	95,000,000
Business combination measurement period	1 year
Goodwill impairment charges	$ 0	$ 0	0
Acquired intangible assets, useful life	4 years	4 years
Acquired intangible asset impairment	$ 0	$ 0	0
Operating lease right-of-use assets	226,000,000
Lease liabilities	267,000,000
Elimination of deferred rent liabilities	$ 0	(47,000,000)
Accounting Standards Update 2016-02
Property, Plant and Equipment [Line Items]
Operating lease right-of-use assets				$ 319,000,000
Lease liabilities				361,000,000
Elimination of deferred rent liabilities				47,000,000
Elimination of prepaid rent				$ 5,000,000
Minimum
Property, Plant and Equipment [Line Items]
Capitalized contract cost, amortization period	3 years
Property and equipment, useful life	2 years
Acquired intangible assets, useful life	3 years
Maximum
Property, Plant and Equipment [Line Items]
Capitalized contract cost, amortization period	4 years
Property and equipment, useful life	30 years
Acquired intangible assets, useful life	7 years
Software Development | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Software Development | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	6 years
Restatement Adjustment
Property, Plant and Equipment [Line Items]
Net change in customer fund deposits		$ 69,000,000	$ (5,000,000)
Small Business Administration (SBA), CARES Act, Paycheck Protection Program
Property, Plant and Equipment [Line Items]
Loans held for sale	$ 98,000,000

Description of Business and S_5

Description of Business and Summary of Significant Accounting Policies - Schedule of shares used in the computation of basic and diluted net income per share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Oct. 31, 2018	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Numerator:
Net income	$ 445	$ 1,084	$ 240	$ 57	$ (44)	$ 1,378	$ 189	$ 34	$ 1,826	$ 1,557	$ 1,329
Shares used in basic per share amounts:
Weighted average common shares outstanding (in shares)									261	260	256
Shares used in diluted per share amounts:
Weighted average common shares outstanding (in shares)									261	260	256
Dilutive common equivalent shares from stock options and restricted stock awards (in shares)									3	4	5
Dilutive weighted average common shares outstanding (in shares)									264	264	261
Basic and diluted net income per share:
Basic net income per share (in dollars per share)	$ 1.70	$ 4.15	$ 0.92	$ 0.22	$ (0.17)	$ 5.30	$ 0.73	$ 0.13	$ 6.99	$ 5.99	$ 5.18
Diluted net income per share (in dollars per share)	$ 1.68	$ 4.11	$ 0.91	$ 0.22	$ (0.17)	$ 5.22	$ 0.72	$ 0.13	$ 6.92	$ 5.89	$ 5.09
Weighted average stock options and restricted stock units that have been excluded from dilutive common equivalent shares outstanding due to their anti-dilutive effect (in shares)									0	1	0

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of financial assets and liabilities measured at fair value (Details) - USD ($) $ in Millions	Jul. 31, 2020	Jul. 31, 2019
Available-for-sale debt securities:
Total available-for-sale debt securities	$ 808	$ 824
Liabilities:
Carrying value	2,048
Municipal bonds
Available-for-sale debt securities:
Total available-for-sale debt securities	9	5
Corporate notes
Available-for-sale debt securities:
Total available-for-sale debt securities	752	800
U.S. agency securities
Available-for-sale debt securities:
Total available-for-sale debt securities	47	19
Fair Value, Measurements, Recurring
Assets:
Cash equivalents, primarily time deposits, savings deposit accounts, and money market funds	5,765	1,647
Available-for-sale debt securities:
Total available-for-sale debt securities	808	824
Total assets measured at fair value on a recurring basis	6,573	2,471
Fair Value, Measurements, Recurring | Municipal bonds
Available-for-sale debt securities:
Total available-for-sale debt securities	9	5
Fair Value, Measurements, Recurring | Corporate notes
Available-for-sale debt securities:
Total available-for-sale debt securities	752	800
Fair Value, Measurements, Recurring | U.S. agency securities
Available-for-sale debt securities:
Total available-for-sale debt securities	47	19
Fair Value, Measurements, Recurring | Level 1
Assets:
Cash equivalents, primarily time deposits, savings deposit accounts, and money market funds	5,765	1,647
Available-for-sale debt securities:
Total available-for-sale debt securities	0	0
Total assets measured at fair value on a recurring basis	5,765	1,647
Fair Value, Measurements, Recurring | Level 1 | Municipal bonds
Available-for-sale debt securities:
Total available-for-sale debt securities	0	0
Fair Value, Measurements, Recurring | Level 1 | Corporate notes
Available-for-sale debt securities:
Total available-for-sale debt securities	0	0
Fair Value, Measurements, Recurring | Level 1 | U.S. agency securities
Available-for-sale debt securities:
Total available-for-sale debt securities	0	0
Fair Value, Measurements, Recurring | Level 2
Assets:
Cash equivalents, primarily time deposits, savings deposit accounts, and money market funds	0	0
Available-for-sale debt securities:
Total available-for-sale debt securities	808	824
Total assets measured at fair value on a recurring basis	808	824
Fair Value, Measurements, Recurring | Level 2 | Municipal bonds
Available-for-sale debt securities:
Total available-for-sale debt securities	9	5
Fair Value, Measurements, Recurring | Level 2 | Corporate notes
Available-for-sale debt securities:
Total available-for-sale debt securities	752	800
Fair Value, Measurements, Recurring | Level 2 | U.S. agency securities
Available-for-sale debt securities:
Total available-for-sale debt securities	47	19
Senior Unsecured Notes
Liabilities:
Carrying value	1,980
Senior Unsecured Notes | Fair Value, Measurements, Recurring
Liabilities:
Senior unsecured notes	2,042	0
Senior Unsecured Notes | Fair Value, Measurements, Recurring | Level 1
Liabilities:
Senior unsecured notes	0	0
Senior Unsecured Notes | Fair Value, Measurements, Recurring | Level 2
Liabilities:
Senior unsecured notes	$ 2,042	$ 0

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of cash equivalents and available-for-sale debt securities by balance sheet classification (Details) - USD ($) $ in Millions	Jul. 31, 2020	Jul. 31, 2019
Available-for-sale debt securities:
Total available-for-sale debt securities	$ 808	$ 824
Level 3
Available-for-sale debt securities:
Loans held-for-sale	98
In cash and cash equivalents
Cash equivalents:
Total cash and cash equivalents	6,442	2,116
Fair Value, Measurements, Recurring
Cash equivalents:
Total cash and cash equivalents	5,765	1,647
Available-for-sale debt securities:
Total available-for-sale debt securities	808	824
Fair Value, Measurements, Recurring | Level 1
Cash equivalents:
Total cash and cash equivalents	5,765	1,647
Available-for-sale debt securities:
Total available-for-sale debt securities	0	0
Fair Value, Measurements, Recurring | Level 2
Cash equivalents:
Total cash and cash equivalents	0	0
Available-for-sale debt securities:
Total available-for-sale debt securities	808	824
Fair Value, Measurements, Recurring | In cash and cash equivalents
Cash equivalents:
Total cash and cash equivalents	5,765	1,647
Fair Value, Measurements, Recurring | In cash and cash equivalents | Level 1
Cash equivalents:
Total cash and cash equivalents	5,765	1,647
Fair Value, Measurements, Recurring | In cash and cash equivalents | Level 2
Cash equivalents:
Total cash and cash equivalents	0	0
Fair Value, Measurements, Recurring | In investments
Available-for-sale debt securities:
Total available-for-sale debt securities	608	624
Fair Value, Measurements, Recurring | In investments | Level 1
Available-for-sale debt securities:
Total available-for-sale debt securities	0	0
Fair Value, Measurements, Recurring | In investments | Level 2
Available-for-sale debt securities:
Total available-for-sale debt securities	608	624
Fair Value, Measurements, Recurring | In funds held for customers
Available-for-sale debt securities:
Total available-for-sale debt securities	200	200
Fair Value, Measurements, Recurring | In funds held for customers | Level 1
Available-for-sale debt securities:
Total available-for-sale debt securities	0	0
Fair Value, Measurements, Recurring | In funds held for customers | Level 2
Available-for-sale debt securities:
Total available-for-sale debt securities	$ 200	$ 200

Cash and Cash Equivalents, In_3

Cash and Cash Equivalents, Investments, and Funds Held for Customers - Table of cash and cash equivalents, investments, and funds held for customers by balance sheet classification (Details) - USD ($) $ in Millions	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Amortized Cost
Cash and cash equivalents	$ 6,442	$ 2,116	$ 1,464
Investments	800	822
Total cash and cash equivalents, investments, and funds held for customers	7,516	3,187
Fair Value
Investments	808	824
Total cash and cash equivalents, investments, and funds held for customers	7,524	3,189
Cash and cash equivalents
Amortized Cost
Cash and cash equivalents	6,442	2,116
Fair Value
Cash and cash equivalents	6,442	2,116
Investments
Amortized Cost
Investments	600	622
Fair Value
Investments	608	624
Funds held for customers
Amortized Cost
Investments	455	436
Fair Value
Investments	455	436
Long-term investments
Amortized Cost
Investments	19	13
Fair Value
Investments	$ 19	$ 13

Cash and Cash Equivalents, In_4

Cash and Cash Equivalents, Investments, and Funds Held for Customers - Table of cash and cash equivalents, investments, and funds held for customers by investment type (Details) - USD ($) $ in Millions	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2017
Amortized Cost
Total cash, cash equivalents, restricted cash, and restricted cash equivalents	$ 6,697	$ 2,352	$ 1,631	$ 701
Total available-for-sale debt securities	800	822
Total cash and cash equivalents, investments, and funds held for customers	7,516	3,187
Fair Value
Total available-for-sale debt securities	808	824
Total cash and cash equivalents, investments, and funds held for customers	7,524	3,189
Total cash, cash equivalents, restricted cash, and restricted cash equivalents
Amortized Cost
Total cash, cash equivalents, restricted cash, and restricted cash equivalents	6,697	2,352
Fair Value
Total cash and cash equivalents	6,697	2,352
Municipal bonds
Amortized Cost
Total available-for-sale debt securities	9	5
Fair Value
Total available-for-sale debt securities	9	5
Corporate notes
Amortized Cost
Total available-for-sale debt securities	744	798
Fair Value
Total available-for-sale debt securities	752	800
U.S. agency securities
Amortized Cost
Total available-for-sale debt securities	47	19
Fair Value
Total available-for-sale debt securities	47	19
Total available-for-sale debt securities
Amortized Cost
Total available-for-sale debt securities	800	822
Fair Value
Total available-for-sale debt securities	808	824
Other long-term investments
Amortized Cost
Other long-term investments	19	13
Fair Value Measurement | Other long-term investments
Amortized Cost
Other long-term investments	$ 19	$ 13

Cash and Cash Equivalents, In_5

Cash and Cash Equivalents, Investments, and Funds Held for Customers - Table of available-for-sale debt securities classified by maturity date (Details) - USD ($) $ in Millions	Jul. 31, 2020	Jul. 31, 2019
Amortized Cost
Due within one year	$ 389	$ 415
Due within two years	256	208
Due within three years	137	163
Due after three years	18	36
Total available-for-sale debt securities	800	822
Fair Value
Due within one year	390	416
Due within two years	261	208
Due within three years	139	164
Due after three years	18	36
Total available-for-sale debt securities	$ 808	$ 824

Cash and Cash Equivalents, In_6

Cash and Cash Equivalents, Investments, and Funds Held for Customers - Investments in Funds Held for Customers (Details) - USD ($) $ in Millions	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2017
Cash and Cash Equivalents, Investments and Funds Held for Customers [Abstract]
Restricted cash and restricted cash equivalents	$ 255	$ 236	$ 167	$ 172
Restricted available-for-sale debt securities	200	200	200	200
Total funds held for customers	$ 455	$ 436	$ 367	$ 372

Property and Equipment - Schedu

Property and Equipment - Schedule of property and equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019
Property, Plant and Equipment [Line Items]
Equipment	$ 226	$ 421
Computer software	870	860
Furniture and fixtures	93	90
Leasehold improvements	298	278
Land	79	79
Buildings	372	368
Capital in progress	90	65
Total property plant and equipment, gross	2,028	2,161
Less accumulated depreciation and amortization	(1,294)	(1,381)
Total property and equipment, net	$ 734	$ 780
Minimum
Property, Plant and Equipment [Line Items]
Life in years	2 years
Maximum
Property, Plant and Equipment [Line Items]
Life in years	30 years
Equipment | Minimum
Property, Plant and Equipment [Line Items]
Life in years	3 years
Equipment | Maximum
Property, Plant and Equipment [Line Items]
Life in years	5 years
Computer software | Minimum
Property, Plant and Equipment [Line Items]
Life in years	2 years
Computer software | Maximum
Property, Plant and Equipment [Line Items]
Life in years	6 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Life in years	5 years
Leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Life in years	2 years
Leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Life in years	16 years
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Life in years	5 years
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Life in years	30 years

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Property, Plant and Equipment [Abstract]
Capitalized software costs	$ 78	$ 79	$ 86
Capitalized labor costs	$ 40	$ 43	$ 45

Goodwill and Acquired Intangi_3

Goodwill and Acquired Intangible Assets - Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Goodwill [Roll Forward]
Goodwill, beginning	$ 1,655	$ 1,611
Goodwill Acquired/ Adjusted	(1)	44
Goodwill, ending	1,654	1,655
Small Business & Self-Employed
Goodwill [Roll Forward]
Goodwill, beginning	1,518	1,496
Goodwill Acquired/ Adjusted	0	22
Goodwill, ending	1,518	1,518
Goodwill net of accumulated impairment losses			$ 114
Consumer
Goodwill [Roll Forward]
Goodwill, beginning	42	23
Goodwill Acquired/ Adjusted	0	19
Goodwill, ending	42	42
Strategic Partner
Goodwill [Roll Forward]
Goodwill, beginning	95	92
Goodwill Acquired/ Adjusted	(1)	3
Goodwill, ending	$ 94	$ 95

Goodwill and Acquired Intangi_4

Goodwill and Acquired Intangible Assets - Acquired Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019
Finite-Lived Intangible Assets [Abstract]
Cost	$ 744	$ 742
Accumulated amortization	(716)	(688)
Acquired intangible assets, net	$ 28	$ 54
Weighted average life in years	4 years	4 years
Expected Future Amortization Expense
2021	$ 17
2022	10
2023	1
2024	0
2025	0
Thereafter	0
Acquired intangible assets, net	28	$ 54
Customer Lists
Finite-Lived Intangible Assets [Abstract]
Cost	256	256
Accumulated amortization	(248)	(245)
Acquired intangible assets, net	$ 8	$ 11
Weighted average life in years	5 years	5 years
Expected Future Amortization Expense
Acquired intangible assets, net	$ 8	$ 11
Purchased Technology
Finite-Lived Intangible Assets [Abstract]
Cost	421	422
Accumulated amortization	(404)	(383)
Acquired intangible assets, net	$ 17	$ 39
Weighted average life in years	3 years	3 years
Expected Future Amortization Expense
Acquired intangible assets, net	$ 17	$ 39
Trade Names and Logos
Finite-Lived Intangible Assets [Abstract]
Cost	25	25
Accumulated amortization	(25)	(24)
Acquired intangible assets, net	0	$ 1
Weighted average life in years		3 years
Expected Future Amortization Expense
Acquired intangible assets, net	0	$ 1
Covenants Not to Compete or Sue
Finite-Lived Intangible Assets [Abstract]
Cost	42	39
Accumulated amortization	(39)	(36)
Acquired intangible assets, net	$ 3	$ 3
Weighted average life in years	3 years	3 years
Expected Future Amortization Expense
Acquired intangible assets, net	$ 3	$ 3

Business Combinations (Details)

Business Combinations (Details) $ / shares in Units, $ in Millions	Feb. 24, 2020USD ($)$ / shares	Jul. 31, 2018USD ($)business	Jul. 31, 2020USD ($)	Jul. 31, 2019USD ($)
Business Acquisition [Line Items]
Goodwill		$ 1,611	$ 1,654	$ 1,655
Exactor Inc., TSheets Inc., and Applatix
Business Acquisition [Line Items]
Consideration transferred		412
Fair value of equity awards		$ 27
Future service period		3 years
Number of businesses acquired | business		3
Net tangible assets		$ 385
Amount allocated of purchase consideration to net tangible assets		5
Identified intangible assets		$ 62
Weighted average life of identified intangible assets		4 years
Goodwill		$ 318
Expected tax deductible amount		219
Exactor Inc., TSheets Inc., and Applatix | Purchased Technology
Business Acquisition [Line Items]
Identified intangible assets		38
Exactor Inc., TSheets Inc., and Applatix | Customer Lists
Business Acquisition [Line Items]
Identified intangible assets		17
Exactor Inc., TSheets Inc., and Applatix | Covenants Note to Compete
Business Acquisition [Line Items]
Identified intangible assets		$ 7
Credit Karma Inc
Business Acquisition [Line Items]
Consideration transferred	$ 7,100
Share price (US dollars per share) | $ / shares	$ 299.7306
Termination date, term from signing date	10 months
Option to extend termination date, extension period	5 months
Termination fee, minimum	$ 230
Termination fee, maximum	350
Equity Award | Credit Karma Inc
Business Acquisition [Line Items]
Fair value of equity awards	$ 1,000
Service period	3 years
Restricted Stock Units (RSUs) | Credit Karma Inc
Business Acquisition [Line Items]
Fair value of equity awards	$ 300
Service period	4 years

Current Liabilities - Additiona

Current Liabilities - Additional Information (Details)	May 02, 2019USD ($)extension	Aug. 31, 2020USD ($)	Jul. 31, 2020USD ($)	Jul. 31, 2019USD ($)	Jul. 31, 2018USD ($)
Debt Instrument [Line Items]
Short-term debt			$ 1,338,000,000	$ 50,000,000
Interest paid			14,000,000	17,000,000	$ 19,000,000
Fair value of amount outstanding			1,000,000,000
Repayments under revolving credit facility			0	0	800,000,000
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Interest paid			2,000,000	0	5,000,000
May 2, 2019 Credit Agreement | Term Loan
Debt Instrument [Line Items]
Interest paid			9,000,000	$ 15,000,000	$ 13,000,000
May 2, 2019 Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Aggregate principal amount	$ 1,400,000,000
Debt instrument, covenant, debt To EBITDA ratio, maximum	3.25
Debt instrument, covenant, EBITDA to annual interest expense ratio, minimum	3
May 2, 2019 Credit Agreement | Line of Credit | Term Loan
Debt Instrument [Line Items]
Term loan, increase limit	$ 400,000,000
Quarterly principal payments	$ 12,500,000
Short-term debt			$ 338,000,000
May 2, 2019 Credit Agreement | Line of Credit | Term Loan | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.00%
May 2, 2019 Credit Agreement | Line of Credit | Term Loan | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	0.125%
May 2, 2019 Credit Agreement | Line of Credit | Term Loan | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.625%
May 2, 2019 Credit Agreement | Line of Credit | Term Loan | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.125%
May 2, 2019 Credit Agreement | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility	$ 1,000,000,000
Revolving credit facility, increase limit	$ 250,000,000
Debt instrument, maturity date extension | extension	2
May 2, 2019 Credit Agreement | Line of Credit | Revolving Credit Facility | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.00%
May 2, 2019 Credit Agreement | Line of Credit | Revolving Credit Facility | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	0.10%
May 2, 2019 Credit Agreement | Line of Credit | Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.69%
May 2, 2019 Credit Agreement | Line of Credit | Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.10%
May 2, 2019 Credit Agreement | Unsecured Debt | Term Loan
Debt Instrument [Line Items]
Aggregate principal amount	$ 400,000,000
Subsequent Event | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Repayments under revolving credit facility		$ 1,000,000,000

Current Liabilities - Other Cur

Current Liabilities - Other Current Liabilities (Details) - USD ($) $ in Millions	Jul. 31, 2020	Jul. 31, 2019
Other Liabilities Disclosure [Abstract]
Executive deferred compensation plan liabilities	$ 123	$ 108
Current portion of operating lease liabilities	46
Reserve for returns and credits	24	24
Reserve for promotional discounts and rebates	11	11
Current portion of dividend payable	6	7
Current portion of deferred rent		6
Interest payable	3	0
Other	84	46
Total other current liabilities	$ 297	$ 202

Long-Term Obligations and Com_3

Long-Term Obligations and Commitments - Narrative (Details) - USD ($)	Feb. 19, 2019	Jun. 30, 2020	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt, net of discount and issuance costs			$ 1,983,000,000	$ 0	$ 0
Interest paid			14,000,000	17,000,000	19,000,000
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Interest paid			2,000,000	0	$ 5,000,000
The Notes | Senior Unsecured Notes
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt, net of discount and issuance costs		$ 1,980,000,000
Debt discount		2,000,000
Debt issuance costs		$ 15,000,000
Repurchase price (in percent)		101.00%
Secured Revolving Credit Facility | Line of Credit | Revolving Credit Facility | Subsidiary
Debt Instrument [Line Items]
Credit facility, term	2 years
Revolving credit facility	$ 300,000,000
Interest accrual, unused portion	0.50%
Amount outstanding under credit facility			$ 48,000,000
Weighted-average interest rate			5.74%
Amounts secured on outstanding balance			$ 144,000,000
Interest paid			$ 3,000,000	$ 1,000,000
Secured Revolving Credit Facility | Line of Credit | Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Subsidiary
Debt Instrument [Line Items]
Basis spread on variable rate	2.39%

Long-Term Obligations and Com_4

Long-Term Obligations and Commitments - Summary of Senior Unsecured Debt (Details) $ in Millions	Jul. 31, 2020USD ($)
Debt Instrument [Line Items]
Long-term Debt	$ 2,048
Senior Unsecured Notes | The Notes
Debt Instrument [Line Items]
Total senior unsecured notes	2,000
Unamortized discount and debt issuance costs	(17)
Long-term Debt	1,983
Senior Unsecured Notes | 0.650% Notes Due July 2023
Debt Instrument [Line Items]
Total senior unsecured notes	$ 500
Stated interest rate (in percent)	0.65%
Effective interest rate (in percent)	0.837%
Senior Unsecured Notes | 0.950% Notes Due July 2025
Debt Instrument [Line Items]
Total senior unsecured notes	$ 500
Stated interest rate (in percent)	0.95%
Effective interest rate (in percent)	1.127%
Senior Unsecured Notes | 1.350% notes due July 2027
Debt Instrument [Line Items]
Total senior unsecured notes	$ 500
Stated interest rate (in percent)	1.35%
Effective interest rate (in percent)	1.486%
Senior Unsecured Notes | 1.650% notes due July 2030
Debt Instrument [Line Items]
Total senior unsecured notes	$ 500
Stated interest rate (in percent)	1.65%
Effective interest rate (in percent)	1.767%

Long-Term Obligations and Com_5

Long-Term Obligations and Commitments - Future Principal Payments (Details) $ in Millions	Jul. 31, 2020USD ($)
Debt Disclosure [Abstract]
2021	$ 0
2022	0
2023	548
2024	0
2025	500
Thereafter	1,000
Long-term Debt	$ 2,048

Long-Term Obligations and Com_6

Long-Term Obligations and Commitments - Other Long-Term Obligations (Details) - USD ($) $ in Millions	Jul. 31, 2020	Jul. 31, 2019
Long-Term Obligations and Commitments [Abstract]
Long-term income tax liabilities	$ 10	$ 89
Total deferred rent	0	47
Total dividend payable	12	11
Other	30	12
Total long-term obligations	52	159
Less current portion (included in other current liabilities)	(10)	(14)
Long-term obligations due after one year	$ 42	$ 145

Long-Term Obligations and Com_7

Long-Term Obligations and Commitments - Operating Lease Commitments and Unconditional Purchase Obligations (Details) $ in Millions	Jul. 31, 2020USD ($)
Purchase Obligation, Fiscal Year Maturity [Abstract]
Purchase obligation due 2021	$ 135
Purchase obligation due 2022	49
Purchase obligation due 2023	19
Purchase obligation due 2024	0
Purchase obligation due 2025	0
Purchase obligation due thereafter	0
Total purchase obligations	$ 203

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	1 Months Ended	12 Months Ended
	Mar. 31, 2020USD ($)	Jul. 31, 2020USD ($)option_to_extend	Jul. 31, 2019USD ($)	Jul. 31, 2018USD ($)
Lessee, Lease, Description [Line Items]
Operating lease terms		10 years
Number of options to extend | option_to_extend		1
Option to extend operating leases		10 years
Operating sublease terms		5 years
Reduction of lease liability	$ 61
Reduction of right-of-use asset	$ 61
Sublease rent expense			$ 42	$ 38
Sublease rental income			$ 24	$ 23
Leases not yet commenced		$ 72
Minimum
Lessee, Lease, Description [Line Items]
Terms for leases not yet commenced		3 years
Maximum
Lessee, Lease, Description [Line Items]
Terms for leases not yet commenced		11 years

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) $ in Millions	12 Months Ended
	Jul. 31, 2020USD ($)
Leases [Abstract]
Operating lease cost	$ 69
Variable lease cost	13
Sublease income	(22)
Total net lease cost	$ 60

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flows (Details) $ in Millions	12 Months Ended
	Jul. 31, 2020USD ($)
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 70
Right-of-use assets obtained in exchange for new operating lease liabilities	346
Right-of-use assets, obtained in exchange for new operating lease liabilities, existing prior to August 1, 2019	319
Right-of-use assets, obtained in exchange for new operating lease liabilities, operating leases not yet commenced	$ 27

Leases - Other Lease Informatio

Leases - Other Lease Information (Details)	Jul. 31, 2020
Leases [Abstract]
Weighted-average remaining lease term for operating leases (in years)	5 years 6 months
Weighted-average discount rate for operating leases	3.10%

Leases - Schedule of Future Pay

Leases - Schedule of Future Payments (Details) $ in Millions	Jul. 31, 2020USD ($)
Operating Lease Maturity
2021	$ 53
2022	57
2023	51
2024	49
2025	38
Thereafter	43
Total future minimum lease payments	291
Less imputed interest	(24)
Present value of lease liabilities	267
Sublease Income Maturity
2021	15
2022	10
2023	2
2024	1
2025	$ 1

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet (Details) $ in Millions	Jul. 31, 2020USD ($)
Leases [Abstract]
Operating lease right-of-use assets	$ 226
Other current liabilities	46
Operating lease liabilities	221
Total operating lease liabilities	$ 267
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us:gaap_OtherLiabilitiesCurrent

Income Taxes - Provision for in

Income Taxes - Provision for income taxes from continuing operations (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Current:
Federal	$ 372	$ 271	$ 197
State	79	67	38
Foreign	21	14	14
Total current	472	352	249
Deferred:
Federal	(47)	(23)	(14)
State	(47)	(4)	2
Foreign	(6)	(1)	0
Total deferred	(100)	(28)	(12)
Total provision for income taxes	$ 372	$ 324	$ 237

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jul. 31, 2018	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Operating Loss Carryforwards [Line Items]
Excess tax benefits related to stock-based compensation		$ 90	$ 120	$ 100
Federal statutory income tax rate		21.00%	21.00%	26.90%
Provisional benefit related to re-measurement of certain deferred tax balances				$ 29
Capital loss on subsidiary reorganization	$ 35	$ 0	$ 0	35
Total net deferred tax assets, net of valuation allowance		264	129
Valuation allowance		132	107
Unrecognized tax benefits net of related deferred tax assets		61
Favorable net impact to income tax expense due to recognition of tax benefits		61
Long term income tax receivable		59
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Excess tax benefits related to stock-based compensation		11	$ 14	$ 6
Operating loss carryforwards		83
Total net deferred tax assets, net of valuation allowance		6
Valuation allowance		4
Domestic Country
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards		34
Foreign Tax Authority | Inland Revenue, Singapore (IRAS)
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards		61
Foreign Tax Authority | Secretariat of the Federal Revenue Bureau of Brazil
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards		51
Foreign Tax Authority | Her Majesty's Revenue and Customs (HMRC)
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards		57
Research Tax Credit Carryforward | State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Deferred tax assets, tax credit carryforwards		$ 110

Income Taxes - Sources of incom

Income Taxes - Sources of income from continuing operations (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Income Tax Disclosure [Abstract]
United States	$ 2,206	$ 1,826	$ 1,528
Foreign	(8)	55	38
Income before income taxes	$ 2,198	$ 1,881	$ 1,566

Income Taxes - Differences betw

Income Taxes - Differences between income taxes calculated using the federal statutory income tax rate and the provision for income taxes from continuing operations (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jul. 31, 2018	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Operating Loss Carryforwards [Line Items]
Income before income taxes		$ 2,198	$ 1,881	$ 1,566
U.S. federal statutory rate		21.00%	21.00%	26.90%
Statutory federal income tax		$ 462	$ 395	$ 420
State income tax, net of federal benefit		25	50	29
Federal research and experimentation credits		(54)	(48)	(38)
Domestic production activities deduction		0	0	(28)
Share-based compensation		22	15	11
Federal excess tax benefits related to share-based compensation		90	120	100
2017 Tax Act - Deferred tax re-measurement		0	0	(29)
Capital loss on subsidiary reorganization	$ (35)	0	0	(35)
Effects of non-U.S. operations		13	13	1
Other, net		(17)	5	0
Total provision for income taxes		372	324	237
Domestic Country
Operating Loss Carryforwards [Line Items]
Federal excess tax benefits related to share-based compensation		$ (79)	$ (106)	$ (94)

Income Taxes - Components of de

Income Taxes - Components of deferred tax assets and liabilities (Details) - USD ($) $ in Millions	Jul. 31, 2020	Jul. 31, 2019
Deferred tax assets:
Accruals and reserves not currently deductible	$ 23	$ 13
Operating lease liabilities	64
Accrued and deferred compensation	112	48
Loss and tax credit carryforwards	114	117
Intangible assets	26	0
Share-based compensation	44	47
Other, net	13	11
Total gross deferred tax assets	396	236
Valuation allowance	(132)	(107)
Total deferred tax assets	264	129
Deferred tax liabilities:
Deferred revenue	68	66
Operating lease right-of-use assets	55
Intangibles	45	71
Property and equipment	22	20
Other, net	11	8
Total deferred tax liabilities	201	165
Net deferred tax asset	63
Net deferred tax liabilities		(36)
Deferred Tax Assets, Net [Abstract]
Long-term deferred income taxes	65	1
Long-term deferred income tax liabilities	$ (2)	$ (37)

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Gross unrecognized tax benefits, beginning balance	$ 120	$ 90	$ 61
Increases related to tax positions from prior fiscal years, including acquisitions	2	13	10
Decreases related to tax positions from prior fiscal years	(35)	0	(3)
Increases related to tax positions taken during current fiscal year	21	23	23
Settlements with tax authorities	(1)	(1)	(1)
Lapse of statute of limitations	(6)	(5)	0
Gross unrecognized tax benefits, ending balance	$ 101	$ 120	$ 90

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Jul. 31, 2020USD ($)Period_of_time$ / sharesshares	Jul. 31, 2019USD ($)shares	Jul. 31, 2018USD ($)shares	Aug. 31, 2020$ / shares	Jul. 31, 2017shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchased during period (in shares) | $	$ 318	$ 561	$ 272
Common stock dividends, cash paid (in dollars per share) | $ / shares	$ 2.12
Dividends and dividend rights declared | $	$ 562	$ 500	$ 407
Common stock, shares authorized (in shares)	750,000,000	750,000,000
Pool shares reduced for each share granted (in shares)	2.3
Pool shares increased for each share forfeited (in shares)	2.3
Shares available for grant (in shares)	18,047,000	21,058,000	22,791,000		25,164,000
Stock offering period, months, employee stock purchase plans	6 months
Stock accrual period, employee stock purchase plans, number of accrual periods | Period_of_time	2
Stock offering period, number of months in accrual period	3 months
Percentage of lower of the closing price for stock on the first day last day of the offering period	85.00%
Shares issued during period for Employee Stock Purchase Plans (in shares)	449,999	485,011	612,768
Shares available for issuance under Employee Stock Purchase Plan (in shares)	1,456,184
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)	18,000,000
Number of years until options vest	7 years
Stock Options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Stock Options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Restricted Stock Units (RSUs) | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Restricted Stock Units (RSUs) | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares authorized (in shares)	23,800,000
Restated 2005 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares authorized (in shares)	138,100,000
Restated 2005 Plan | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pool shares reduced for each share granted (in shares)	1
Number of shares added back to plan when grants are forfeited (in shares)	1
Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend per share payable (in dollars per share) | $ / shares				$ 0.59
Current Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program remaining authorized repurchase amount | $	$ 2,400
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchases under stock repurchase programs (in shares)	1,176,000	2,455,000	1,870,000

Stockholders' Equity - Share-Ba

Stockholders' Equity - Share-Based Compensation Expense (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 435	$ 401	$ 382
Income tax benefit	(173)	(200)	(199)
Decrease in net income	262	201	183
Software and Software Development Costs
Decrease in net income per share:
Share-based compensation expense	$ 3	$ 4	$ 3
Share Based Compensation Expense
Decrease in net income per share:
Basic (in dollars per share)	$ 1	$ 0.77	$ 0.71
Diluted (in dollars per share)	$ 0.99	$ 0.76	$ 0.70
Cost of product revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 1	$ 1	$ 3
Cost of service and other revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	59	57	40
Selling and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	116	103	101
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	151	136	133
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	108	104	105
Total share-based compensation expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 435	$ 401	$ 382

Stockholders' Equity - Determin

Stockholders' Equity - Determining Fair Value (Details)	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility (range)	32.00%		25.00%
Weighted average expected volatility	32.00%	27.00%	25.00%
Risk-free interest rate (range)	0.20%		2.84%
Expected dividend yield	0.70%		0.72%
Employee Stock Option | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility (range)		26.00%
Risk-free interest rate (range)		1.84%
Expected dividend yield		0.67%
Employee Stock Option | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility (range)		27.00%
Risk-free interest rate (range)		2.92%
Expected dividend yield		0.85%
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average expected volatility	39.00%	26.00%	23.00%
Employee Stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility (range)	23.00%	21.00%	20.00%
Risk-free interest rate (range)	0.24%	1.94%	1.05%
Expected dividend yield	0.74%	0.73%	0.87%
Employee Stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility (range)	72.00%	33.00%	25.00%
Risk-free interest rate (range)	2.23%	2.44%	1.96%
Expected dividend yield	0.95%	0.95%	1.10%

Stockholders' Equity - Share-_2

Stockholders' Equity - Share-Based Awards Available for Grant (Details) - shares	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Shares available for Grant, Beginning (in shares)	21,058,000	22,791,000	25,164,000
Restricted stock units granted (in shares)	6,111,000	5,639,000	6,504,000
Options granted (in shares)	(382,000)	(487,000)	(455,000)
Share-based awards canceled/forfeited/expired (in shares)	3,482,000	4,393,000	4,586,000
Shares available for Grant, Ending (in shares)	18,047,000	21,058,000	22,791,000
Pool shares reduced for each share granted (in shares)	2.3
Pool shares increased for each share forfeited (in shares)	2.3

Stockholders' Equity - Restrict

Stockholders' Equity - Restricted Stock Unit Activity and Related Share-Based Compensation Expense (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Summary of restricted stock unit activity
Nonvested, Number of shares, Beginning Balance (in shares)	5,683	7,383	8,636
Granted (in shares)	2,657	2,452	2,828
Unregistered restricted stock granted in connection with acquisitions (in shares)			75
Vested (in shares)	(2,039)	(3,123)	(2,960)
Forfeited (in shares)	(637)	(1,029)	(1,196)
Nonvested, Number of shares, Ending Balance (in shares)	5,664	5,683	7,383
Weighted Average Grant Date Fair Value
Nonvested, Weighted Average Grant Date Fair Value per share, Beginning Balance (in dollars per share)	$ 186.22	$ 131.50	$ 98.76
Granted (in dollars per share)	271.80	245.40	185.53
Unregistered restricted stock granted in connection with acquisitions (in dollars per share)			163
Vested (in dollars per share)	180.40	129.31	105.71
Forfeited (in dollars per share)	154.91	107.40	88.59
Nonvested, Weighted Average Grant Date Fair Value per share, Ending Balance (in dollars per share)	$ 231.97	$ 186.22	$ 131.50
Total tax benefit related to RSU share-based compensation expense	$ 173	$ 200	$ 199
Restricted Stock Units (RSUs)
Weighted Average Grant Date Fair Value
Total fair market value of shares vested	620	676	527
Share-based compensation for RSUs	382	351	326
Total tax benefit related to RSU share-based compensation expense	134	141	143
Cash tax benefits realized for tax deductions for RSUs	139	$ 150	$ 142
Unrecognized compensation cost	$ 1,200
Weighted average vesting period	3 years 2 months 12 days

Stockholders' Equity - Stock Op

Stockholders' Equity - Stock Option Activity and Related Share-Based Compensation Expense (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2020
Summary of stock option activity, number of shares
Number of shares, Beginning Balance (in shares)	3,374	5,154	7,488
Granted (in shares)	382	487	455
Exercised (in shares)	(993)	(1,924)	(2,416)
Canceled or expired (in shares)	(82)	(343)	(373)
Number of shares, Ending Balance (in shares)	2,681	3,374	5,154
Weighted Average Exercise Price Per Share
Weighted average exercise price per share, Beginning Balance (in dollars per share)	$ 150.75	$ 120.26	$ 104.50
Granted (in dollars per share)	303.94	274.26	216.64
Exercised (in dollars per share)	111.82	102.49	89.41
Canceled or expired (in dollars per share)	188.39	138.59	121.31
Weighted average exercise price per share, Ending Balance (in dollars per share)	$ 185.83	$ 150.75	$ 120.26
Stock Options Outstanding
Number of shares (in thousands), options outstanding (in shares)	2,681	3,374	5,154	2,681
Weighted average remaining contractual life (in years), options outstanding	4 years 4 months 20 days
Weighted average exercise price per share, options outstanding (in dollars per share)	$ 185.83	$ 150.75	$ 120.26	$ 185.83
Aggregate intrinsic value (in millions), options outstanding				$ 323
Number of shares (in thousands), options exercisable (in shares)				1,808
Weighted average remaining contractual life (in years) options exercisable	3 years 6 months 3 days
Weighted average exercise price per share, options exercisable (in dollars per share)				$ 141.76
Aggregate intrinsic value (in millions), options exercisable				$ 298
Market price of common stock (in dollars per share)				$ 306.37
Additional information on stock options and ESPP shares
Weighted average fair value of options granted (in dollars per share)	$ 74.85	$ 63.18	$ 50.77
Total grant date fair value of options vested	$ 28	$ 30	$ 38
Aggregate intrinsic value of options exercised	159	248	188
Total tax benefit for stock option and ESPP share-based compensation	173	200	199
Cash received from option exercises	111	197	216
Cash tax benefits realized related to tax deductions for non-qualified option exercises and disqualifying dispositions under all share-based payment arrangements	39	58	53
Stock Options And Espp
Additional information on stock options and ESPP shares
Share-based compensation expense for stock options and ESPP	53	50	56
Total tax benefit for stock option and ESPP share-based compensation	$ 39	$ 59	$ 56
Employee Stock Option
Additional information on stock options and ESPP shares
Unrecognized compensation cost				$ 57
Weighted average vesting period	3 years 3 months 18 days

Stockholders' Equity - Accumula

Stockholders' Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders’ equity	$ 5,106	$ 3,749	$ 2,816	$ 1,699
Unrealized gain on available-for-sale debt securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders’ equity	6	1
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders’ equity	(38)	(37)
AOCI Attributable to Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders’ equity	$ (32)	$ (36)	$ (36)	$ (22)

Benefit Plans (Details)

Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Retirement Benefits [Abstract]
Maximum percent of salary and bonus eligible for executive deferred compensation plan	75.00%
Executive deferred compensation plan liabilities	$ 123	$ 108
Maximum percent of pre tax salary eligible for contribution to employee plan	50.00%
Additional employer contribution for next six percent of salary (in percent)	125.00%
Additional salary contributed by the employee (in percent)	6.00%
Matching contributions	$ 69	$ 59	$ 50

Litigation (Details)

Litigation (Details) claim in Thousands, $ in Millions	12 Months Ended
	Jul. 31, 2020USD ($)claim
Commitments and Contingencies Disclosure [Abstract]
Individual arbitration claims pending | claim	42
Arbitration fees recorded	$ 14
Estimate of future fees to be incurred	$ 120

Segment Information (Details)

Segment Information (Details) $ in Millions	3 Months Ended								12 Months Ended
	Jul. 31, 2020USD ($)	Apr. 30, 2020USD ($)	Jan. 31, 2020USD ($)	Oct. 31, 2019USD ($)	Jul. 31, 2019USD ($)	Apr. 30, 2019USD ($)	Jan. 31, 2019USD ($)	Oct. 31, 2018USD ($)	Jul. 31, 2020USD ($)segment	Jul. 31, 2019USD ($)	Jul. 31, 2018USD ($)
Segment Information (Textuals)
Number of reportable segments | segment									3
Net revenue:
Total net revenue	$ 1,816	$ 3,002	$ 1,696	$ 1,165	$ 994	$ 3,272	$ 1,502	$ 1,016	$ 7,679	$ 6,784	$ 6,025
Operating income:
Total segment operating income	$ 483	$ 1,413	$ 270	$ 10	$ (153)	$ 1,784	$ 233	$ (10)	2,176	1,854	1,560
Unallocated corporate items:
Amortization of acquired technology									(22)	(20)	(15)
Amortization of other acquired intangible assets									(6)	(6)	(6)
QuickBooks Online Accounting
Net revenue:
Total net revenue									1,354	980	695
Online Services
Net revenue:
Total net revenue									828	683	511
Total Online Ecosystem
Net revenue:
Total net revenue									2,182	1,663	1,206
QuickBooks Desktop Accounting
Net revenue:
Total net revenue									755	732	716
Desktop Services and Supplies
Net revenue:
Total net revenue									1,113	1,138	1,139
Total Desktop Ecosystem
Net revenue:
Total net revenue									1,868	1,870	1,855
QuickBooks Desktop Packaged Software Products
Net revenue:
Total net revenue									147	167	166
Small Business & Self-Employed
Net revenue:
Total net revenue									4,050	3,533	3,061
Consumer
Net revenue:
Total net revenue									3,136	2,775	2,508
Strategic Partner
Net revenue:
Total net revenue									493	476	456
Operating Segments
Operating income:
Total segment operating income									4,186	3,609	3,197
Operating Segments | Small Business & Self-Employed
Operating income:
Total segment operating income									1,911	1,549	1,326
Operating Segments | Consumer
Operating income:
Total segment operating income									1,942	1,742	1,587
Operating Segments | Strategic Partner
Operating income:
Total segment operating income									333	318	284
Segment Reconciling Items
Unallocated corporate items:
Share-based compensation expense									(435)	(401)	(382)
Other common expenses									(1,547)	(1,328)	(1,234)
Amortization of acquired technology									(22)	(20)	(15)
Amortization of other acquired intangible assets									(6)	(6)	(6)
Total unallocated corporate items									$ (2,010)	$ (1,755)	$ (1,637)
International | Maximum
Segment Information (Textuals)
International total net revenue, as a percentage of total									5.00%	5.00%	5.00%

Selected Quarterly Financial _3

Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Oct. 31, 2018	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Total net revenue	$ 1,816	$ 3,002	$ 1,696	$ 1,165	$ 994	$ 3,272	$ 1,502	$ 1,016	$ 7,679	$ 6,784	$ 6,025
Cost of revenue	322	426	340	290	281	354	285	247
All other costs and expenses	1,011	1,163	1,086	865	866	1,134	984	779
Operating income	483	1,413	270	10	(153)	1,784	233	(10)	2,176	1,854	1,560
Net income	$ 445	$ 1,084	$ 240	$ 57	$ (44)	$ 1,378	$ 189	$ 34	$ 1,826	$ 1,557	$ 1,329
Basic net income (loss) per share (in dollars per share)	$ 1.70	$ 4.15	$ 0.92	$ 0.22	$ (0.17)	$ 5.30	$ 0.73	$ 0.13	$ 6.99	$ 5.99	$ 5.18
Diluted net income (loss) per share (in dollars per share)	$ 1.68	$ 4.11	$ 0.91	$ 0.22	$ (0.17)	$ 5.22	$ 0.72	$ 0.13	$ 6.92	$ 5.89	$ 5.09

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Allowance for doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation and qualifying accounts, beginning balance	$ 3	$ 5	$ 46
Additions Charged to Expense/ Revenue	68	59	58
Deductions	(59)	(61)	(99)
Valuation and qualifying accounts, ending balance	12	3	5
Reserve for returns and credits
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation and qualifying accounts, beginning balance	24	17	14
Additions Charged to Expense/ Revenue	170	190	167
Deductions	(170)	(183)	(164)
Valuation and qualifying accounts, ending balance	24	24	17
Reserve for promotional discounts and rebates
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation and qualifying accounts, beginning balance	11	10	19
Additions Charged to Expense/ Revenue	73	92	99
Deductions	(73)	(91)	(108)
Valuation and qualifying accounts, ending balance	$ 11	$ 11	$ 10