Intuit (INTU) 10-K 1 Sep 23 2023 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Jul. 31, 2023	Aug. 25, 2023	Jan. 31, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jul. 31, 2023
Current Fiscal Year End Date	--07-31
Document Transition Report	false
Entity File Number	0-21180
Entity Registrant Name	INTUIT INC.
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			$ 115.5
Entity Common Stock, Shares Outstanding		280,259,493
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement for its Annual Meeting of Stockholders to be held on January 18, 2024 are incorporated by reference in Part III of this Annual Report on Form 10-K.
Entity Central Index Key	0000896878
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Document Financial Statement Error Correction [Flag]	false

Audit Information

Audit Information	12 Months Ended
	Jul. 31, 2023
Audit Information [Abstract]
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	San Jose, California

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Net revenue:
Net revenue:	$ 14,368	$ 12,726	$ 9,633
Cost of revenue:
Amortization of acquired technology	163	140	50
Selling and marketing	3,762	3,526	2,644
Research and development	2,539	2,347	1,678
General and administrative	1,300	1,460	982
Amortization of other acquired intangible assets	483	416	146
Total costs and expenses	11,227	10,155	7,133
Operating income	3,141	2,571	2,500
Interest expense	(248)	(81)	(29)
Interest and other income, net	96	52	85
Income before income taxes	2,989	2,542	2,556
Income tax provision	605	476	494
Net income	$ 2,384	$ 2,066	$ 2,062
Basic net income per share (in dollars per share)	$ 8.49	$ 7.38	$ 7.65
Shares used in basic per share calculations (in shares)	281	280	270
Diluted net income per share (in dollars per share)	$ 8.42	$ 7.28	$ 7.56
Shares used in diluted per share calculations (in shares)	283	284	273
Product
Net revenue:
Net revenue:	$ 1,970	$ 1,747	$ 1,698
Cost of revenue:
Cost of revenue	71	69	69
Service and other
Net revenue:
Net revenue:	12,398	10,979	7,935
Cost of revenue:
Cost of revenue	$ 2,909	$ 2,197	$ 1,564

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 2,384	$ 2,066	$ 2,062
Other comprehensive income (loss), net of income taxes:
Unrealized gain (loss) on available-for-sale debt securities	0	(10)	(3)
Foreign currency translation gain (loss)	5	(26)	11
Total other comprehensive income (loss), net	5	(36)	8
Comprehensive income	$ 2,389	$ 2,030	$ 2,070

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jul. 31, 2023	Jul. 31, 2022
Current assets:
Cash and cash equivalents	$ 2,848	$ 2,796
Investments	814	485
Accounts receivable, net of allowance for doubtful accounts of $7 and $31	405	446
Notes receivable, net	687	509
Income taxes receivable	29	93
Prepaid expenses and other current assets	354	287
Current assets before funds receivable and amounts held for customers	5,137	4,616
Funds receivable and amounts held for customers	420	431
Total current assets	5,557	5,047
Long-term investments	105	98
Property and equipment, net	969	888
Operating lease right-of-use assets	469	549
Goodwill	13,780	13,736
Acquired intangible assets, net	6,419	7,061
Long-term deferred income tax assets	64	11
Other assets	417	344
Total assets	27,780	27,734
Current liabilities:
Short-term debt	0	499
Accounts payable	638	737
Accrued compensation and related liabilities	665	576
Deferred revenue	921	808
Income taxes payable	698	8
Other current liabilities	448	571
Current liabilities before funds payable and amounts due to customers	3,370	3,199
Funds payable and amounts due to customers	420	431
Total current liabilities	3,790	3,630
Long-term debt	6,120	6,415
Long-term deferred income tax liabilities	4	619
Operating lease liabilities	480	542
Other long-term obligations	117	87
Total liabilities	10,511	11,293
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 - 280,421 shares at July 31, 2023 and 281,932 shares at July 31, 2022	3	3
Additional paid-in capital	19,026	17,722
Treasury stock, at cost	(16,772)	(14,805)
Accumulated other comprehensive loss	(55)	(60)
Retained earnings	15,067	13,581
Total stockholders’ equity	17,269	16,441
Total liabilities and stockholders’ equity	$ 27,780	$ 27,734

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jul. 31, 2023	Jul. 31, 2022
Allowance for doubtful accounts	$ 7	$ 31
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
Common stock, $0.01 par value Authorized - 750,000 shares Outstanding - 280,421 shares at July 31, 2023 and 281,932 shares at July 31, 2022
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)	280,421,000	281,932,000
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
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
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
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0

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 (in shares) at Jul. 31, 2020		261,740
Beginning balance at Jul. 31, 2020	$ 5,106	$ 3	$ 6,179	$ (11,929)	$ (32)	$ 10,885
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	2,070				8	2,062
Issuance of stock under employee stock plans, net of shares withheld for employee taxes (in shares)		2,593
Issuance of stock under employee stock plans, net of shares withheld for employee taxes	(187)		(187)
Stock repurchases under stock repurchase programs (in shares)		(2,422)
Stock repurchases under stock repurchase programs	(1,022)			(1,022)
Dividends and dividend rights declared	(651)					(651)
Share-based compensation expense	755		755
Issuance of stock in a business combination (in shares)		11,324
Issuance of stock in a business combination	3,798		3,798
Ending balance (in shares) at Jul. 31, 2021		273,235
Ending balance at Jul. 31, 2021	9,869	$ 3	10,545	(12,951)	(24)	12,296
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	2,030				(36)	2,066
Issuance of stock under employee stock plans, net of shares withheld for employee taxes (in shares)		2,361
Issuance of stock under employee stock plans, net of shares withheld for employee taxes	(448)		(448)
Stock repurchases under stock repurchase programs (in shares)		(3,754)
Stock repurchases under stock repurchase programs	(1,854)			(1,854)
Dividends and dividend rights declared	(781)					(781)
Share-based compensation expense	1,309		1,309
Issuance of stock in a business combination (in shares)		10,090
Issuance of stock in a business combination	$ 6,316		6,316
Ending balance (in shares) at Jul. 31, 2022	281,932	281,932
Ending balance at Jul. 31, 2022	$ 16,441	$ 3	17,722	(14,805)	(60)	13,581
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	2,389				5	2,384
Issuance of stock under employee stock plans, net of shares withheld for employee taxes (in shares)		3,189
Issuance of stock under employee stock plans, net of shares withheld for employee taxes	(408)		(408)
Stock repurchases under stock repurchase programs (in shares)		(4,700)
Stock repurchases under stock repurchase programs	(1,967)			(1,967)
Dividends and dividend rights declared	(898)					(898)
Share-based compensation expense	1,712		1,712
Issuance of stock in a business combination	$ 0
Ending balance (in shares) at Jul. 31, 2023	280,421	280,421
Ending balance at Jul. 31, 2023	$ 17,269	$ 3	$ 19,026	$ (16,772)	$ (55)	$ 15,067

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in dollars per share)	$ 3.12	$ 2.72	$ 2.36

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Cash flows from operating activities:
Net income	$ 2,384	$ 2,066	$ 2,062
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	160	187	166
Amortization of acquired intangible assets	646	559	197
Non-cash operating lease cost	90	83	62
Share-based compensation expense	1,712	1,308	753
Deferred income taxes	(628)	120	(42)
Other	81	2	(39)
Total adjustments	2,061	2,259	1,097
Originations of loans held for sale	0	0	(41)
Sale and principal payments of loans held for sale	0	0	143
Changes in operating assets and liabilities:
Accounts receivable	42	(31)	(104)
Income taxes receivable	64	29	(51)
Prepaid expenses and other assets	(75)	(121)	30
Accounts payable	(97)	(95)	206
Accrued compensation and related liabilities	88	(357)	(70)
Deferred revenue	111	71	22
Operating lease liabilities	(81)	(83)	(66)
Income taxes payable	690	6	(8)
Other liabilities	(141)	145	30
Total changes in operating assets and liabilities	601	(436)	(11)
Net cash provided by operating activities	5,046	3,889	3,250
Cash flows from investing activities:
Purchases of corporate and customer fund investments	(1,015)	(830)	(1,489)
Sales of corporate and customer fund investments	240	1,524	229
Maturities of corporate and customer fund investments	449	234	550
Purchases of property and equipment	(210)	(157)	(53)
Capitalization of internal use software	(50)	(72)	(72)
Acquisitions of businesses, net of cash acquired	(33)	(5,682)	(3,064)
Originations and purchases of loans	(1,983)	(933)	(232)
Principal repayments of loans	1,727	519	136
Other	(47)	(24)	30
Net cash used in investing activities	(922)	(5,421)	(3,965)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	0	4,700	0
Repayments of debt	(1,009)	0	(338)
Repayments on borrowings under unsecured revolving credit facility	0	0	(1,000)
Proceeds from borrowings under secured revolving credit facilities	222	182	0
Repayments on borrowings under secured revolving credit facilities	(23)	0	0
Proceeds from issuance of stock under employee stock plans	228	162	196
Payments for employee taxes withheld upon vesting of restricted stock units	(633)	(611)	(383)
Cash paid for purchases of treasury stock	(1,967)	(1,861)	(1,005)
Dividends and dividend rights paid	(889)	(774)	(646)
Net change in funds receivable and funds payable and amounts due to customers	(197)	(56)	2
Other	(1)	(10)	(2)
Net cash provided by (used in) financing activities	(4,269)	1,732	(3,176)
Effect of exchange rates on cash, cash equivalents, restricted cash, and restricted cash equivalents	0	(22)	13
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents	(145)	178	(3,878)
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period	2,997	2,819	6,697
Cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period	2,852	2,997	2,819
Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents reported within the consolidated balance sheets to the total amounts reported on the consolidated statements of cash flows
Cash and cash equivalents	2,848	2,796	2,562
Restricted cash and restricted cash equivalents included in funds receivable and amounts held for customers	4	201	257
Total cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period	2,852	2,997	2,819
Supplemental disclosure of cash flow information:
Interest paid	272	67	30
Income taxes paid	484	303	578
Supplemental schedule of non-cash investing activities:
Issuance of common stock in business combinations	$ 0	$ 6,316	$ 3,798

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	12 Months Ended
	Jul. 31, 2023
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 and small businesses prosper by delivering financial management, compliance, and marketing products and services. We also provide specialized tax products to accounting professionals, who are key partners that help us serve small business customers. Our global financial technology platform, which includes TurboTax, Credit Karma, QuickBooks, and Mailchimp, is designed to help consumers and small businesses manage their finances, get and retain customers, save money, pay off debt, and do their taxes with ease and confidence. For those customers who run small businesses, we are focused on helping them find and keep customers, get paid faster, pay their employees, manage and get access to capital, and ensure their books are done right. Lacerte, ProSeries, and ProConnect Tax Online are our leading tax preparation offerings for professional accountants. Incorporated in 1984 and headquartered in Moun tain 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 material intercompany balances and transactions in consolidation. We have reclassified certain amounts previously reported in our financial statements that were not material, to conform to the current presentation. We acquired Credit Karma on December 3, 2020. We have included the results of operations for Credit Karma in our consolidated statements of operations from the date of acquisition. Credit Karma operates as a separate reportable segment. See Note 15, "Segment Information," for more information. We acquired The Rocket Science Group LLC (Mailchimp) on November 1, 2021. We have included the results of operations for Mailchimp in our consolidated statements of operations from the date of acquisition. Our Mailchimp offerings are part of our Small Business & Self-Employed segment. See Note 7, “ Business Combinations, ” for more information. On August 1 2022, we renamed our ProConnect segment as the ProTax segment. This segment continues to serve professional accountants. See Note 15, "Segment Information," for more information. On August 1, 2022, to better align our personal finance strategy, our Mint offering moved from our Consumer segment to our Credit Karma segment. See Note 15, "Segment Information," for more information. Seasonality Our Consumer and ProTax offerings have a significant and distinct seasonal pattern as sales and revenue from our income tax preparation products and services are typically concentrated in the period from November through April. This seasonal pattern typically results in higher net revenues during our second and third quarters ending January 31 and April 30, respectively. In fiscal 2021, the IRS extended the tax filing deadline from April to May 17, 2021. As a result of this extension, a significant amount of our fiscal 2021 Consumer segment and ProTax segment revenues were recognized in the fourth quarter as compared to the third quarter of fiscal 2023 and 2022. 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, the realizability of deferred tax assets, the credit losses of available-for-sale debt securities, reserves for losses, and the fair value of assets acquired and liabilities assumed for business combinations. 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. 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, delivery of qualified links, and 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 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. Our Mailchimp offerings include marketing automation and customer relationship management. 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. Desktop Offerings Our desktop offerings consist of our subscription-based QuickBooks Desktop products, 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 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 not material within the context of the contract. Our consumer and professional tax packaged desktop software 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 consumer tax packaged desktop software products in non-consignment and consignment arrangements to certain retailers. Additionally, we sell our QuickBooks Enterprise software on retailer websites. For these retailers, we begin recognizing revenue at the later of when control has transferred to the retailer or customer for consumer tax packaged desktop software and upon activation of the subscriptions by the customer for QuickBooks subscription offerings. 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. Other Solutions Revenue from our Credit Karma segment is primarily comprised of revenue from the delivery of qualified links that result in completed actions, or cost-per-action transactions. Credit Karma also generates revenue from cost-per-click and cost-per-lead transactions. All revenue from our Credit Karma segment is included in service and other revenue in our consolidated statements of operations. Cost-per-action revenue is earned based on a pre-determined fee for approved actions, such as when credit cards are issued or when personal loans and other loans to businesses are funded. Revenue is recognized when a lead is generated that results in one of these approved actions. Cost-per-click and cost-per-lead revenue is primarily related to mortgage and insurance businesses. Cost-per-click revenue is earned as users click on our customers' advertisements and is recognized based on the number of clicks recorded each month. Cost-per-lead revenue is earned via customer advertisements that allow the generation of leads from consumers interested in the advertised products and is recognized at the time a consumer request or lead is delivered to the customer. Revenue from the sale of our financial supplies, such as printed check stock and hardware, including 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; our Credit Karma offerings; support, electronic filing services, and connected services included with our desktop offerings; merchant payment processing services; revenue-sharing and royalty arrangements; and interest on loans and amounts held for customers. 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. Revenue for electronic payment processing services that we provide to merchants is recorded net of interchange fees charged by credit card associations. We hold customer cash as part of delivering payroll and payment services, and we include in total net revenue the interest earned on these funds from the time they are collected until the time that we remit them to outside parties or merchants. 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 toward 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 are 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 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, 2023, we recognized revenue of $808 million, that was included in deferred revenue at July 31, 2022. During the twelve months ended July 31, 2022, we recognized revenue of $684 million, that was included in deferred revenue at July 31, 2021. Our performance obligations are generally satisfied within 12 months of the initial contract date. As of July 31, 2023 and 2022 , the deferred revenue balance related to performance obligations that will be satisfied after 12 months was $5 million and $6 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 sales commissions are considered incremental costs of obtaining the contract with a customer. 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 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 customer service and technical support associated with our online or hosted offerings in cost of service and other revenue line in our consolidated statements of operations. We also include the costs of providing technical support for our desktop offerings in cost of service and other revenue. We include the costs of customer service 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 technical support assistance to customers. We expense the cost of providing this 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 the 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 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 $1.5 billion for the twelve months ended July 31, 2023, $1.6 billion for the twelve months ended July 31, 2022, and $1.1 billion for the twelve months ended July 31, 2021. Leases Our leases are primarily operating leases for office facilities. We do not have material 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 the lease 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 ours. 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 material 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 the revenue, costs, and expenses of our foreign subsidiaries 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 or expense in our consolidated statements of operations. Translation gains and losses and transaction gains and losses were not material 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 statements 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 Per Share We compute basic net income 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) 2023 2022 2021 Numerator: Net income $ 2,384 $ 2,066 $ 2,062 Denominator: Shares used in basic per share amounts: Weighted-average common shares outstanding 281 280 270 Shares used in diluted per share amounts: Weighted-average common shares outstanding 281 280 270 Dilutive common equivalent shares from stock options and restricted stock awards 2 4 3 Dilutive weighted-average common shares outstanding 283 284 273 Basic and diluted net income per share: Basic net income per share $ 8.49 $ 7.38 $ 7.65 Diluted net income per share $ 8.42 $ 7.28 $ 7.56 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 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 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 in our consolidated statements 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. Third-party payment processor receivables due from financial institutions for the settlement of credit and debit card transactions for the sales of our products and services are included in accounts receivable. We maintain an allowance for doubtful accounts to reserve for credit losses. In determining the amount of the allowance, we consider our historical level of credit losses, current economic trends that might impact the level of future credit losses, customer-specific information, and reasonable and supportable forecasts of future economic conditions to inform adjustments to historical loss data. We make judgments about the creditworthiness of significant customers based on ongoing credit evaluations. When we determine that amounts are uncollectible, we write them off against the allowance. Funds Receivable and Amounts Held for Customers and Funds Payable and Amounts Due to Customers Funds receivable and amounts held for customers represents funds receivable from third-party payment processors for customer transactions and 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. Funds payable and amounts due to customers 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 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 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 recognize such costs as general and administrative expenses as they are incurred. Under the acquisition method, we also account for acquired company restructuring activities that we initiate sepa

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Jul. 31, 2023
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, 2023 At July 31, 2022 (In millions) Level 1 Level 2 Total Level 1 Level 2 Total Assets: Cash equivalents, primarily money market funds $ 1,888 $ — $ 1,888 $ 1,835 $ — $ 1,835 Available-for-sale debt securities: Corporate notes — 805 805 — 589 589 U.S. agency securities — 209 209 — 96 96 Total available-for-sale debt securities — 1,014 1,014 — 685 685 Total assets measured at fair value on a recurring basis $ 1,888 $ 1,014 $ 2,902 $ 1,835 $ 685 $ 2,520 Liabilities: Senior unsecured notes (1) $ — $ 1,309 $ 1,309 $ — $ 1,838 $ 1,838 (1) Carrying values on our consolidated balance sheets were $1.49 billion and $1.99 billion at July 31, 2023 and July 31, 2022, respectively. See Note 8, “ Debt” for more information. The following table summarizes our cash equivalents and available-for-sale debt securities by balance sheet classification and level in the fair value hierarchy at the dates indicated: At July 31, 2023 At July 31, 2022 (In millions) Level 1 Level 2 Total Level 1 Level 2 Total Cash equivalents: In cash and cash equivalents $ 1,888 $ — $ 1,888 $ 1,835 $ — $ 1,835 Available-for-sale debt securities: In investments $ — $ 814 $ 814 $ — $ 485 $ 485 In funds receivable and amounts held for customers — 200 200 — 200 200 Total available-for-sale debt securities $ — $ 1,014 $ 1,014 $ — $ 685 $ 685 We value our Level 1 assets, consisting primarily of money market funds, using quoted prices in active markets for identical instruments. Financial assets whose fair values we measure on a recurring basis using Level 2 inputs consist of 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 designed to ensure that we record appropriate fair values for our Level 2 investments. These controls include comparison to pricing provided by a secondary pricing service or investment manager, validation of pricing sources and models, review of key model inputs, analysis of period-over-period price fluctuations, and independent recalculation of prices where appropriate. Financial liabilities whose fair values we measure using Level 2 inputs consist of senior unsecured notes. See Note 8, “ Debt” 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, 2023, 2022, or 2021. 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 and our long-term investments. Estimates of fair value for reporting units fall under Level 3 of the fair value hierarchy. During the fourth quarters of fiscal 2023, fiscal 2022, and fiscal 2021, 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 Receivable and Amounts Held for Customers	12 Months Ended
	Jul. 31, 2023
Cash and Cash Equivalents, Investments, and Funds Receivable and Amounts Held for Customers [Abstract]
Cash and Cash Equivalents, Investments, and Funds Receivable and Amounts Held for Customers	3. Cash and Cash Equivalents, Investments, and Funds Receivable and Amounts Held for Customers The following table summarizes our cash and cash equivalents, investments, and funds receivable and amounts held for customers by balance sheet classification at the dates indicated. July 31, 2023 July 31, 2022 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value Classification on consolidated balance sheets: Cash and cash equivalents $ 2,848 $ 2,848 $ 2,796 $ 2,796 Investments 819 814 490 485 Funds receivable and amounts held for customers 424 420 435 431 Total cash and cash equivalents, investments, and funds receivable and amounts held for customers $ 4,091 $ 4,082 $ 3,721 $ 3,712 The following table summarizes our cash and cash equivalents, investments, and relevant portion of funds receivable and amounts held for customers by investment category at the dates indicated. As of July 31, 2023 and July 31, 2022, this excludes $216 million and $30 million, respectively, of funds receivable included on our consolidated balance sheets in funds receivable and amounts held for customers not measured and recorded at fair value. July 31, 2023 July 31, 2022 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value Type of issue: Total cash, cash equivalents, restricted cash, and restricted cash equivalents $ 2,852 $ 2,852 $ 2,997 $ 2,997 Available-for-sale debt securities: Corporate notes 811 805 597 589 U.S. agency securities 212 209 97 96 Total available-for-sale debt securities 1,023 1,014 694 685 Total cash, cash equivalents, restricted cash, restricted cash equivalents, and investments $ 3,875 $ 3,866 $ 3,691 $ 3,682 We include realized gains and losses on our available-for-sale debt securities in interest and other income or expense in our consolidated statements of operations. Gross realized gains and losses on our available-for-sale debt securities for the twelve months ended July 31, 2023, 2022, and 2021 were not material. 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, except for certain unrealized losses described below. Gross unrealized gains and losses on our available-for-sale debt securities at July 31, 2023 and July 31, 2022 were not material. For available-for-sale debt securities in an unrealized loss position, we determine whether a credit loss exists. The estimate of the credit loss is determined by considering available information relevant to the collectibility of the security and information about past events, current conditions, and reasonable and supportable forecasts. The allowance for credit loss is recorded to interest and other income on our consolidated statements of operations, not to exceed the amount of the unrealized loss. Any excess unrealized loss greater than the allowance for credit loss at a security level is recognized in accumulated other comprehensive income or loss in the stockholders' equity section of our consolidated balance sheets. We determined there were no credit losses related to available-for-sale debt securities as of July 31, 2023 . Unrealized losses on available-for-sale debt securities at July 31, 2023 were not material. We do not intend to sell these investments. In addition, it is m ore likely than not that we will not be required to sell them before recovery of the amortized cost basis, which may be at maturity. The following table summarizes our available-for-sale debt securities, included in investments and relevant portion of funds receivable and amounts held for customers, classified by the stated maturity date of the security at the dates indicated. July 31, 2023 July 31, 2022 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value Due within one year $ 735 $ 730 $ 316 $ 313 Due within two years 147 144 298 293 Due within three years 141 140 79 78 Due after three years — — 1 1 Total available-for-sale debt securities $ 1,023 $ 1,014 $ 694 $ 685 The following table summarizes our funds receivable and amounts held for customers by asset category at the dates indicated. (In millions) July 31, 2023 July 31, 2022 July 31, 2021 July 31, 2020 Restricted cash and restricted cash equivalents $ 4 $ 201 $ 257 $ 255 Restricted available-for-sale debt securities and funds receivable 416 230 200 200 Total funds receivable and amounts held for customers $ 420 $ 431 $ 457 $ 455

Notes Receivable and Allowances

Notes Receivable and Allowances for Loan Losses	12 Months Ended
	Jul. 31, 2023
Receivables [Abstract]
Notes Receivable and Allowances for Loan Losses	4. Notes Receivable and Allowances for Loan Losses Notes receivable primarily consist of term loans to small businesses and refund advance loans to consumers. As of July 31, 2023 and July 31, 2022, the net notes receivable balance was $762 million and $540 million, respectively. The current portion is included in notes receivable, and the long term portion is included in other assets on our consolidated balance sheets. As of July 31, 2023 and July 31, 2022, the allowances for loan losses were not material. Term loans to small businesses . We provide financing to small businesses via term loans. The term loans are not secured and are recorded at amortized cost, net of allowances for loan losses. As of July 31, 2023 and July 31, 2022, the net notes receivable balance for term loans was $757 million and $540 million, respectively. We maintain an allowance for loan losses to reserve for potentially uncollectible notes receivable. We evaluate the creditworthiness of our term 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 to 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 and future economic conditions. When we determine that amounts are uncollectible, we write them off against the allowance. As of July 31, 2023 and July 31, 2022, the allowances for loan losses on term loans to small businesses were not material. We consider a loan to be delinquent when the payments are one Interest revenue is earned on loans originated and held to maturity in accordance with the specified period of time and defined interest rate noted in the loan contract. Interest revenue is recorded net of amortized direct origination costs and is included in service and other revenue in our consolidated statements of operations. Interest revenue was not material for all periods presented. In August 2023, we entered into a forward flow arrangement with an institutional investor. Pursuant to this arrangement, we have a commitment to sell a minimum of $250 million in participation interests of unsecured term loans to small businesses over the next 18 months, subject to certain eligibility criteria. Refund Advance Loans . Refund advance loans are loans available to eligible TurboTax customers based on a customer's anticipated income tax refund, at no cost to the customer. The loans are repaid from the customer's income tax refund, which is generally received within three to four weeks after acceptance of the customer's income tax return by the Internal Revenue Service (IRS). We partner with a third-party issuing bank to originate the loans and subsequently purchase full participating interests in those loans. The refund advance loans are not secured and are recorded at amortized cost, net of an allowance for loan losses. As of July 31, 2023, the net notes receivable balance for refund advance loans was not material. We had no refund advance loans outstanding as of July 31, 2022. We maintain an allowance for loan losses to reserve for potentially uncollectible loans. We evaluate the likelihood of repayment 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 purchase. The loss rate and underlying model are updated periodically to reflect actual loan performance and changes to assumptions. When we determine that amounts are uncollectible, we write them off against the allowance. As of July 31, 2023, the allowance for loan losses on refund advance loans was not material.

Property and Equipment

Property and Equipment	12 Months Ended
	Jul. 31, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment	5. Property and Equipment Property and equipment consisted of the following at the dates indicated: Life in July 31, (Dollars in millions) Years 2023 2022 Equipment 3-5 $ 214 $ 208 Computer software 2-6 898 911 Furniture and fixtures 5 104 101 Leasehold improvements 2-16 404 366 Land NA 79 79 Buildings 5-30 382 378 Capital in progress NA 360 283 2,441 2,326 Less accumulated depreciation and amortization (1,472) (1,438) Total property and equipment, net $ 969 $ 888 __________________________ NA = Not Applicable Capital in progress at July 31, 2023 and 2022, consisted primarily of costs related to 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 $50 million for the twelve months ended July 31, 2023; $72 million for the twelve months ended July 31, 2022; and $72 million for the twelve months ended July 31, 2021. There was no capitalized labor in these amounts for the twelve months ended July 31, 2023. There was $13 million and $30 million of capitalized labor in these amounts for the twelve months ended July 31, 2022 and July 31, 2021, 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, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Acquired Intangible Assets	6. Goodwill and Acquired Intangible Assets Goodwill Changes in the carrying value of goodwill by reportable segment during the twelve months ended July 31, 2023 and July 31, 2022 were as shown in the following table. Our reportable segments are described in Note 15, “Segment Information.” (In millions) Balance Goodwill Acquired/ Foreign Currency Translation Balance Goodwill Acquired/ Foreign Currency Translation Balance Small Business & Self-Employed $ 1,578 $ 8,115 $ (4) $ 9,689 $ 1 $ 1 $ 9,691 Consumer 42 10 (1) 51 — — 51 Credit Karma 3,898 5 (4) 3,899 40 2 3,941 ProTax 95 2 — 97 — — 97 Totals $ 5,613 $ 8,132 $ (9) $ 13,736 $ 41 $ 3 $ 13,780 Goodwill is net of accumulated impairment losses of $114 million, which were recorded prior to July 31, 2021 and are included in our Consumer segment. The increase in goodwill during the twelve months ended July 31, 2022 was primarily due to the acquisition of Mailchimp. 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 Trade Covenants Total At July 31, 2023: Cost $ 6,197 $ 1,616 $ 680 $ 42 $ 8,535 Accumulated amortization (1,178) (756) (140) (42) (2,116) Acquired intangible assets, net $ 5,019 $ 860 $ 540 $ — $ 6,419 Weighted-average life in years 14 8 13 0 13 At July 31, 2022: Cost $ 6,197 $ 1,612 $ 680 $ 42 $ 8,531 Accumulated amortization (748) (593) (87) (42) (1,470) Acquired intangible assets, net $ 5,449 $ 1,019 $ 593 $ — $ 7,061 Weighted-average life in years 14 8 13 0 13 The following table shows the expected future amortization expense for our acquired intangible assets at July 31, 2023. Amortization of purchased technology is charged 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 Twelve months ending July 31, 2024 $ 626 2025 624 2026 620 2027 594 2028 581 Thereafter 3,374 Total expected future amortization expense $ 6,419

Business Combinations

Business Combinations	12 Months Ended
	Jul. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Business Combinations	7. Business Combinations Mailchimp On November 1, 2021, we acquired all of the outstanding equity of Mailchimp, a global customer engagement and marketing platform for growing small and mid-market businesses. We acquired Mailchimp to help deliver on the vision of an innovative, end-to-end customer growth platform for small and mid-market businesses. Mailchimp is part of our Small Business & Self-Employed segment. We have included the financial results of Mailchimp in the consolidated financial statements from the date of acquisition. Pro forma information related to this acquisition has not been presented, as the effect of the acquisition on our consolidated results of operations was not material. Our results of operations for the twelve months ended July 31, 2022 included $762 million of revenue attributable to Mailchimp. For the twelve months ended July 31, 2022, we recorded professional fees associated with the acquisition of $63 million in general and administrative expenses. The fair value of the purchase consideration totaled $12.0 billion, which included $5.7 billion in cash and 10.1 million shares of Intuit common stock with a value of approximately $6.3 billion. The fair value of the stock consideration is based on the October 29, 2021 closing price of Intuit common stock of $625.99. Pursuant to the equity purchase agreement, we also issued approximately 583,000 RSUs in substitution of outstanding equity incentive awards. These RSUs have a grant date fair value of $355 million and will be expensed over three years. Additionally, we issued approximately 325,000 RSUs with a total grant date fair value of $211 million to Mailchimp employees, of which $151 million will be expensed over four years and $60 million was expensed during the first six months following the acquisition date. The allocation of the Mailchimp purchase price is as follows: (In millions) Amount Cash and cash equivalents $ 42 Investments 126 Accounts receivable, net 25 Income taxes receivable 1 Prepaid expenses and other current assets 24 Long-term investments 1 Property and equipment, net 15 Operating lease right-of-use assets 31 Goodwill 8,102 Intangible assets 4,340 Long-term deferred income tax assets 6 Other assets 1 Accounts payable (163) Accrued compensation and related liabilities (409) Deferred revenue (52) Other current liabilities (69) Long-term portion of operating lease liabilities (20) Other long-term obligations (5) Total purchase price allocation $ 11,996 The excess of purchase consideration over the fair value of the net assets acquired was recorded as goodwill, which is primarily attributed to the assembled workforce of Mailchimp and the synergies expected to be achieved. This goodwill is assigned to the Small Business & Self-Employed segment and substantially all is deductible for income tax purposes. We completed the purchase price allocation for the Mailchimp acquisition during the second quarter of fiscal 2023, with no material adjustments to our preliminary purchase price allocation. Intangible assets consist of customer lists, purchased technology, and trade names/trademarks. We amortize purchased intangible assets on a straight-line basis over their respective useful lives. The weighted-average life of the total acquired identifiable intangible assets is 12.0 years. The following table presents the details of identifiable intangible assets acquired. (In millions, except years) Estimated Useful Life Amount Customer lists 13 years $ 3,160 Purchased technology 9 years 900 Trade names/trademarks 10 years 280 Total identifiable intangible assets $ 4,340 Credit Karma On December 3, 2020, we acquired all of the outstanding shares of Credit Karma, a consumer technology platform. We acquired Credit Karma to help consumers unlock smart money decisions and accelerate our mission of powering prosperity around the world, by creating a personal financial assistant that helps consumers find the right financial products, put more money in their pockets, and access financial expertise and education. Credit Karma is a separate reportable segment. See Note 15, "Segment Information," for more information. We have included the financial results of Credit Karma in the consolidated financial statements from the date of acquisition. For the twelve months ended July 31, 2021, the transaction costs associated with the acquisition were approximately $31 million, and were recorded in general and administrative expenses. We acquired Credit Karma for total consideration of $8.1 billion, which included assumed equity awards and restricted shares subject to a revest provision. The fair value of the purchase consideration totaled $7.2 billion and included $3.4 billion in cash, 10.6 million shares of Intuit common stock with a fair value of $3.8 billion and assumed equity awards for services rendered through the acquisition date of $47 million. We also issued shares of common stock with a fair value of $275 million which are restricted due to a revest provision, and will be expensed over a service period of three years. The share-based compensation expense related to these restricted shares is non-deductible for income tax purposes. Additionally, we assumed equity awards for future services with a fair value of $663 million that are being charged to expense over the remaining service periods, which average approximately three years. The fair value of the stock consideration is based on the December 2, 2020 closing price of Intuit common stock of $355.49. As part of the merger agreement, following the close of the transaction, we issued approximately $300 million of restricted stock units to employees of Credit Karma, which is being charged to expense over a service period of four years. The allocation of the Credit Karma purchase price is as follows: (In millions) Amount Cash and cash equivalents $ 436 Accounts receivable, net 141 Income taxes receivable 59 Prepaid expenses and other current assets 7 Long-term investments 3 Property and equipment, net 63 Operating lease right-of-use assets 167 Goodwill 3,898 Intangible assets 3,372 Other assets 81 Accounts payable (86) Accrued compensation and related liabilities (113) Other current liabilities (24) Operating lease liabilities (172) Long-term deferred income tax liabilities (627) Other long-term obligations (10) Total purchase price allocation $ 7,195 The excess of purchase consideration over the fair value of the net assets acquired was recorded as goodwill, which is primarily attributed to the assembled workforce of Credit Karma and the synergies expected to be achieved. This goodwill is assigned to the Credit Karma segment and is non-deductible for income tax purposes. We completed the purchase price allocation for the Credit Karma acquisition during the second quarter of fiscal 2022, with no material adjustments to our preliminary purchase price allocation. Intangible assets consist of user relationships, trade names/trademarks, purchased technology, and partner relationships. We amortize purchased intangible assets on a straight-line basis over their respective useful lives. The weighted-average life of the total acquired identifiable intangible assets is 14.4 years. The following table presents the details of identifiable intangible assets acquired. (In millions, except years) Estimated Useful Life Amount User relationships 15 years $ 2,781 Trade names/Trademarks 15 years 375 Purchased technology 6 years 216 Total identifiable intangible assets $ 3,372 The following table summarizes the long-term deferred income tax assets and liabilities included in the purchase price allocation above: (In millions) Amount Intangibles $ (851) Federal and state net operating loss carryforwards 138 Federal research and experimentation credit carryforwards 51 Other, net 35 Total net long-term deferred income tax liabilities $ (627)

Debt

Debt	12 Months Ended
	Jul. 31, 2023
Debt Disclosure [Abstract]
Debt	8. Debt The carrying value of our debt was as follows at the dates indicated: July 31, July 31, Effective (In millions) 2023 2022 Interest Rate Senior unsecured notes issued June 2020: 0.650% notes due July 2023 $ — $ 500 0.837% 0.950% notes due July 2025 500 500 1.127% 1.350% notes due July 2027 500 500 1.486% 1.650% notes due July 2030 500 500 1.767% Term loan 4,200 4,700 Secured revolving credit facilities 430 230 Total principal balance of debt 6,130 6,930 Unamortized discount and debt issuance costs (10) (16) Net carrying value of debt $ 6,120 $ 6,914 Short-term debt $ — $ 499 Long-term debt $ 6,120 $ 6,415 Future principal payments for debt at July 31, 2023 were as shown in the table below. (In millions) Fiscal year ending July 31, 2024 $ — 2025 4,700 2026 430 2027 500 2028 — Thereafter 500 Total future principal payments for debt $ 6,130 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. During the fourth quarter of fiscal 2023, we repaid the $500 million in notes due in July 2023, when they became due using cash from operations. Interest is payable semiannually on January 15 and July 15 of each year. The discount and debt issuance costs are amortized to interest expense over the term of the Notes under the effective interest method. We paid $23 million of interest on the Notes during the twelve months ended July 31, 2023, $23 million during the twelve months ended July 31, 2022, and $24 million during the twelve months ended July 31, 2021. 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, 2023, we were compliant with all covenants governing the Notes. Unsecured Credit Facility On November 1, 2021, we terminated our amended and restated credit agreement dated May 2, 2019 (2019 Credit Facility), and entered into a credit agreement with certain institutional lenders with an aggregate principal amount of $5.7 billion, which includes a $4.7 billion unsecured term loan that matures on November 1, 2024, and a $1 billion unsecured revolving credit facility that matures on November 1, 2026 (2021 Credit Facility). The 2021 Credit Facility 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 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, 2023, we were compliant with all required covenants. Term Loan . On November 1, 2021, we borrowed the full $4.7 billion under the unsecured term loan to fund a portion of the cash consideration for the acquisition of Mailchimp. Under this agreement, we may, subject to certain customary conditions, on one or more occasions, increase commitments under the term loan in an amount not to exceed $400 million in the aggregate. The term loan accrues interest at rates that are equal to, at our election, either (i) the alternate base rate plus a margin that ranges from 0.0% to 0.125%, or (ii) the Secured Overnight Finance Rate (SOFR) 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. Interest on the term loan is payable monthly. At July 31, 2023, $4.2 billion was outstanding under the term loan. The carrying value of the term loan approximates its fair value. We paid $230 million and $42 million of interest on the term loan during the twelve months ended July 31, 2023 and July 31, 2022, respectively. We paid $2 million of interest on our previous term loan under the 2019 Credit Facility during the twelve months ended July 31, 2021. Unsecured Revolving Credit Facility . The 2021 Credit Facility includes a $1 billion unsecured revolving credit facility that will expire on November 1, 2026. Under this agreement, we may 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, subject to customary conditions including lender approval. Advances under the unsecured revolving credit facility accrue interest at rates that are equal to, at our election, either (i) the alternate base rate plus a margin that ranges from 0.0% to 0.1%, or (ii) SOFR 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. At July 31, 2023, no amounts were outstanding under the unsecured revolving credit facility. We paid no interest on the unsecured revolving credit facility during each of the twelve months ended July 31, 2023 and 2022. We paid $1 million of interest on our previous unsecured revolving credit facility during the twelve months ended July 31, 2021. Secured Revolving Credit Facilities 2019 Secured Facility . On February 19, 2019, a subsidiary of Intuit entered into a secured revolving credit facility with a lender to fund a portion of our loans to qu alified small businesses (the 2019 Secured Facility). The 2019 Secured Facility is secured by cash and receivables of the subsidiary and is non-recourse to Intuit Inc. We have entered into several amendments to this facility, most recently on July 21, 2023. These amendments primarily increase the facility limit, extend the commitment term and maturity date, and update the benchmark interest rate. Under the amended 2019 Secured Facility, the facility limit is $500 million, of which $300 million is committed and $200 million is uncommitted. Advances accrue inter est at adjusted daily simple SOFR plus 1.5%. Unused portions of the committed credit facility accrue interest at a rate ranging from 0.25% to 0.75%, depending on the total unused committed balance. The commitment term is through July 18, 2025, and the final maturity date is July 20, 2026. The agreement includes certain affirmative and negative covenants, including financial covenants, that require the subsidiary to maintain specified financial ratios. As of July 31, 2023, we were compliant with all required covenants. At July 31, 2023, $300 million was outstanding under the 2019 Secured Facility and the weighted-average interest rate was 6.91%. The outstanding balance is secured by cash and receivables of the subsidiary totaling $912 million. Interest on the 2019 Secured Facility is payable monthly. We paid $16 million, $2 million, and $3 million of interest on this secured revolving credit facility during the twelve months ended July 31, 2023, 2022, and 2021, respectively. 2022 Secured Facilit y . On October 12, 2022, another subsidiary of Intuit entered into a secured revolving credit facility with a lender to fund a portion of our loans to qualified small businesses (the 2022 Secured Facility). The 2022 Secured Facility is secured by cash and receivables of the subsidiary and is non-recourse to Intuit Inc. Under the agreement, the facility limit is $500 million, of which $150 million is committed and $350 million is uncommitted. Advances accrue interest at SOFR plus 1.3%. Unused portions of the committed credit facility accrue interest at a rate ranging from 0.2% to 0.4%, depending on the total unused committed balance. The commitment term is through October 12, 2024, and the final maturity date is October 13, 2025. The agreement includes certain affirmative and negative covenants, including financial covenants, that require the subsidiary to maintain specified financial ratios. As of July 31, 2023, we were compliant with all required covenants. At July 31, 2023, $130 million was outstanding under the 2022 Secured Facility and the weighted-average interest rate was 6.64%, which includes the interest on the unused committed portion. The outstanding balance is secured by cash and receivables of the subsidiary totaling $375 million. Interest on the 2022 Secured Facility is payable monthly. We paid $4 million of interest on this secured revolving credit facility during the twelve months ended July 31, 2023.

Other Liabilities and Commitmen

Other Liabilities and Commitments	12 Months Ended
	Jul. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Other Liabilities and Commitments	9. Other Liabilities and Commitments Other Current Liabilities Other current liabilities were as follows at the dates indicated: July 31, (In millions) 2023 2022 Executive deferred compensation plan liabilities $ 171 $ 147 Current portion of operating lease liabilities 89 84 Sales, property, and other taxes 45 40 Reserve for returns, credits, and promotional discounts 32 31 Accrued settlement for state attorneys general — 141 Other 111 128 Total other current liabilities $ 448 $ 571 Other Long-Term Obligations Other long-term obligations were as follows at the dates indicated: July 31, (In millions) 2023 2022 Income tax liabilities $ 76 $ 44 Dividend payable 16 12 Deferred revenue 5 6 Other 20 25 Total other long-term obligations $ 117 $ 87 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, 2023 were as shown in the table below. (In millions) Purchase Fiscal year ending July 31, 2024 $ 596 2025 574 2026 313 2027 68 2028 55 Thereafter 440 Total commitments $ 2,046

Leases

Leases	12 Months Ended
	Jul. 31, 2023
Leases [Abstract]
Leases	10. 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 19 years, which include options to extend that are reasonably certain of being exercised. Some of our leases include one or more options to extend the leases for up to 10 years per option, which we are not reasonably certain to exercise. The options to extend are 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 material finance leases. We sublease certain office facilities to third parties. These subleases have remaining lease terms of up to 7 years, some of which include one or more options to extend the subleases for up to 5 years per option. The components of lease expense were as follows: Twelve Months Ended July 31, (In millions) 2023 2022 2021 Operating lease cost (1) $ 124 $ 105 $ 75 Variable lease cost 20 15 11 Sublease income (12) (17) (16) Total net lease cost $ 132 $ 103 $ 70 (1) Includes short-term leases, which were not material for the twelve months ended July 31, 2023, 2022 or 2021. Supplemental cash flow information related to operating leases was as follows: Twelve Months Ended July 31, (In millions) 2023 2022 2021 Cash paid for amounts included in the measurement of operating lease liabilities $ 107 $ 104 $ 76 Right-of-use assets obtained in exchange for operating lease liabilities $ 28 $ 238 $ 60 Other information related to operating leases was as follows at the dates indicated: July 31, 2023 2022 2021 Weighted-average remaining lease term for operating leases 7.9 years 8.1 years 6.8 years Weighted-average discount rate for operating leases 3 % 2.9 % 2.3 % Future minimum lease payments under non-cancellable operating leases as of July 31, 2023 were as follows: (In millions) Operating Leases (1) Fiscal year ending July 31, 2024 $ 76 2025 95 2026 78 2027 70 2028 60 Thereafter 281 Total future minimum lease payments 660 Less imputed interest (91) Present value of lease liabilities $ 569 (1) Non-cancellable sublease proceeds for the fiscal years ending July 31, 2024, 2025, 2026, 2027, 2028, and thereafter of $11 million, $6 million, $1 million, $1 million, $1 million, and $2 million, respectively, are not included in the table above. Supplemental balance sheet information related to operating leases was as follows at the dates indicated: July 31, (In millions) 2023 2022 Operating lease right-of-use assets $ 469 $ 549 Other current liabilities $ 89 $ 84 Operating lease liabilities 480 542 Total operating lease liabilities $ 569 $ 626

Income Taxes

Income Taxes	12 Months Ended
	Jul. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes The provision for income taxes consisted of the following for the periods indicated: Twelve Months Ended July 31, (In millions) 2023 2022 2021 Current: Federal $ 970 $ 253 $ 399 State 208 93 121 Foreign 86 31 17 Total current 1,264 377 537 Deferred: Federal (559) 85 (33) State (99) 18 (11) Foreign (1) (4) 1 Total deferred (659) 99 (43) Total provision for income taxes $ 605 $ 476 $ 494 We recognized excess tax benefits on share-based compensation of $32 million, $134 million, and $126 million in the provision for income taxes for the twelve months ended July 31, 2023, 2022, and 2021, 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) 2023 2022 2021 United States $ 2,798 $ 2,433 $ 2,497 Foreign 191 109 59 Total $ 2,989 $ 2,542 $ 2,556 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) 2023 2022 2021 Income before income taxes $ 2,989 $ 2,542 $ 2,556 Statutory federal income tax $ 628 $ 534 $ 537 State income tax, net of federal benefit 86 87 87 Federal research and experimentation credits (106) (94) (70) Share-based compensation 58 45 32 Excess tax benefits related to share-based compensation (26) (112) (105) Effects of non-U.S. operations (28) 4 4 Other, net (7) 12 9 Total provision for income taxes $ 605 $ 476 $ 494 The state income tax line in the table above includes excess tax benefits related to share-based compensation of $6 million, $22 million and $21 million for the twelve months ended July 31, 2023, 2022, and 2021, respectively. During the twelve months ended July 31, 2023, a transfer of certain intangible assets from our United Kingdom subsidiary to the United States resulted in the utilization of deferred tax assets previously subject to a full valuation allowance. The net tax benefit realized on the transfer was approximately $32 million, which is included in the effects of non-U.S. operations and state income tax lines in the table above. In the current global tax policy environment, the U.S. and other domestic and foreign governments continue to consider, and in some cases enact, changes in corporate tax laws. As changes occur, we account for finalized legislation in the period of enactment. Material deferred tax assets and liabilities were as follows at the dates indicated: July 31, (In millions) 2023 2022 Deferred tax assets: Accruals and reserves not currently deductible $ 31 $ 84 Capitalized research and development (1) 667 — Operating lease liabilities 153 168 Accrued and deferred compensation 90 84 Loss and tax credit carryforwards 256 224 Intangible assets — 25 Share-based compensation 94 97 Other, net 27 23 Total gross deferred tax assets 1,318 705 Valuation allowance (235) (244) Total deferred tax assets 1,083 461 Deferred tax liabilities: Operating lease right-of-use assets 128 149 Intangibles 840 868 Property and equipment 8 9 Other, net 47 43 Total deferred tax liabilities 1,023 1,069 Net deferred tax assets (liabilities) $ 60 $ (608) (1) As required by the 2017 Tax Cuts & Jobs Act, our research and development costs are capitalized and amortized for U.S. tax purposes for the twelve months ended July 31, 2023. The mandatory capitalization requirement significantly increased our deferred tax assets at July 31, 2023. The components of total net deferred tax assets (liabilities), net of valuation allowances, as shown on our consolidated balance sheets were as follows at the dates indicated: July 31, (In millions) 2023 2022 Long-term deferred income tax assets $ 64 $ 11 Long-term deferred income tax liabilities (4) (619) Net deferred tax assets (liabilities) $ 60 $ (608) We have provided a valuation allowance related to state research and experimentation tax credit carryforwards, foreign loss carryforwards and state operating loss carryforwards that we believe are unlikely to be realized. We have a valuation allowance of $235 million and $244 million for the twelve months ended July 31, 2023 and July 31, 2022. The valuation allowance on our net deferred taxes decreased by $9 million for the twelve months ended July 31, 2023. The change in the valuation allowance was primarily related to a decrease in the allowance for foreign intangible deferred tax assets and foreign net operating loss carryforwards, net of an increase in the allowance for state research and experimentation tax credit carryforwards. The valuation allowance on our net deferred taxes increased by $39 million for the twelve months ended July 31, 2022. The change in the valuation allowance was primarily related to state research and experimentation tax credit carryforwards. At July 31, 2023, we had federal net operating loss carryforwards of approximately $52 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, 2023, we had state net operating loss carryforwards of approximately $150 million for which we have recorded a deferred tax asset of $10 million and a valuation allowance of $5 million. The state net operating loss carryforwards will start to expire in fiscal 2028. 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, 2023, we had foreign net operating loss carryforwards of approximately $96 million which carry forward indefinitely. We maintain a full valuation allowance with respect to the foreign net operating losses as there is not sufficient evidence of future sources of taxable income required to utilize such carryforwards. At July 31, 2023, we had California research and experimentation credit carryforwards of approximately $343 million. The California research and experimentation credit will carry forward indefinitely. 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) 2023 2022 2021 Gross unrecognized tax benefits, beginning balance $ 216 $ 190 $ 101 Increases related to tax positions from prior fiscal years, including acquisitions 11 9 69 Decreases related to tax positions from prior fiscal years (16) (13) — Increases related to tax positions taken during current fiscal year 38 31 31 Settlements with tax authorities (2) — — Lapse of statute of limitations (1) (1) (11) Gross unrecognized tax benefits, ending balance $ 246 $ 216 $ 190 The total amount of our unrecognized tax benefits at July 31, 2023 was $246 million. If we were to recognize these net benefits, our income tax expense would reflect a favorable net impact of $152 million. We do not believe that it is reasonably possible that there will be a material 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 jurisdiction is the U.S. federal jurisdiction. For U.S. federal tax returns, we are no longer subject to tax examinations for fiscal 2017 and 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, 2023 and July 31, 2022 for the payment of interest and penalties were not material. The amounts of interest and penalties that we recognized during the twelve months ended July 31, 2023, 2022, and 2021, were also not material. We offset an $85 million and $89 million long-term liability for uncertain tax positions against our long-term income tax receivable at July 31, 2023 and July 31, 2022, respectively. The long-term income tax receivable at July 31, 2023 and July 31, 2022 was primarily related to the government’s approval of a method of accounting change request for fiscal 2018 and a refund claim related to Credit Karma’s alternative minimum tax credit that was recorded as part of the acquisition.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Jul. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stockholders' Equity	12. Stockholders’ Equity Stock Repurchase Programs and Treasury Shares Intuit’s Board of Directors has authorized a series of common stock repurchase programs. Shares of common stock repurchased under these programs become treasury shares. Under these programs, we repurchased 4.7 million shares of our common stock for $2.0 billion during the twelve months ended July 31, 2023. Included in this amount were $10 million of repurchases which occurred in late July 2023 and settled in August 2023. At July 31, 2023, we had authorization from our Board of Directors for up to $1.5 billion in stock repurchases. On August 22, 2023, our Board approved an increase in the authorization under the existing stock repurchase program under which we are authorized to repurchase up to an additional $2.3 billion of our common stock. 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. Any direct costs to acquire treasury stock are recorded to 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 the twelve months ended July 31, 2023, we declared cash dividends that totaled $3.12 per share of outstanding common stock, or approximately $898 million. In August 2023, our Board of Directors declared a quarterly cash dividend of $0.90 per share of outstanding common stock payable on October 17, 2023 to stockholders of record at the close of business on October 9, 2023. 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 and Credit Karma, Inc. 2015 Equity Incentive Plan Our stockholders initially approved our 2005 Equity Incentive Plan (2005 Plan) on December 9, 2004. On January 20, 2022, our stockholders approved an Amended and Restated 2005 Equity Incentive Plan (Restated 2005 Plan) that expires on January 20, 2032. Under the Restated 2005 Plan, we are permitted to grant incentive and non-qualified stock options, restricted stock awards, RSUs, stock appreciation rights, and stock bonus awards to our employees, non-employee directors, and consultants. The Compensation and Organizational Development Comm ittee 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 159.5 million shares under the Restated 2005 Plan, including 3,366,512 shares that were previously available for issuance prior to January 20, 2022 under the Credit Karma Plan, described below, adjusted for the fungible ratio of the Restated 2005 Plan. T he 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. Stock options granted under the 2005 Plan and the Restated 2005 Plan typically vest over three seven three In connection with our acquisition of Credit Karma on December 3, 2020, we assumed the Credit Karma, Inc. 2015 Equity Incentive Plan, as amended (Credit Karma Plan), under which the assumed equity awards were granted. See Note 7, “Business Combinations,” for more information on the Credit Karma acquisition and the related equity awards assumed. Under the Restated 2005 Plan, effective January 20, 2022, shares available under the Credit Karma Plan became available for grant under the Restated 2005 Plan and no shares may be granted out of the Credit Karma Plan. Through January 20, 2022, the Credit Karma Plan provided a fungible share reserve. Each restricted stock unit granted reduced the share reserve by one share. RSUs forfeited and returned to the pool of shares available for grant increased the pool by one share for each share forfeited. Shares withheld for income taxes upon vesting of RSUs were also returned to the pool of shares available for grant. After January 20, 2022, shares forfeited and returned to the pool from grants issued out of the Credit Karma Plan will increase the pool by 2.3 shares for each share forfeited. At July 31, 2023, there were approximately 19.0 million shares available for grant under the Restated 2005 Plan and no awards may be granted out of the Credit Karma Plan. 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 25.8 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 Under the ESPP, employees purchased 399,975 shares of Intuit common stock during the twelve months ended July 31, 2023; 326,961 shares during the twelve months ended July 31, 2022; and 405,268 shares during the twelve months ended July 31, 2021. At July 31, 2023, there were 2,323,980 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) 2023 2022 2021 Cost of product revenue $ 3 $ 2 $ 1 Cost of service and other revenue 371 144 68 Selling and marketing 429 309 183 Research and development 532 521 281 General and administrative 377 332 220 Total share-based compensation expense 1,712 1,308 753 Income tax benefit (373) (396) (269) Decrease in net income $ 1,339 $ 912 $ 484 Decrease in net income per share: Basic $ 4.77 $ 3.26 $ 1.79 Diluted $ 4.73 $ 3.21 $ 1.77 We capitalized no share-based compensation related to internal use software projects during the twelve months ended July 31, 2023, and $1 million and $2 million during the twelve months ended July 31 , 2022, and 2021, respectively. Determining Fair Value Valuation and Amortization Methods 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. These time-based RSUs accounted for approximately 85% of our total share-based compensation expense during the twelve months ended July 31, 2023. Certain RSUs granted to senior management vest based on the achievement of pre-established market or performance goals. 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. 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. 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, 2023 2022 2021 Assumptions for stock options: Expected volatility (range) 30.41% - 33.19% 35 % 29 % Weighted-average expected volatility 30.67 % 35 % 29 % Risk-free interest rate (range) 3.52% - 4.46% 2.73 % 0.62 % Expected dividend yield 0.63 % 0.61 % 0.45 % Assumptions for ESPP: Expected volatility (range) 38% - 48% 26% - 39% 31% - 36% Weighted-average expected volatility 42 % 23 % 34 % Risk-free interest rate (range) 1.59% - 4.74% 0.04% - 0.44% 0.02% - 0.17% Expected dividend yield (range) 0.74% - 0.81% 0.47% - 0.59% 0.60% - 0.75% Share-Based Awards Available for Grant A summary of share-based awards available for grant under our plans for the fiscal periods indicated was as follows: (Shares in thousands) Shares Balance at July 31, 2020 18,047 Shares available for grant under the Credit Karma Plan 4,298 Restricted stock units granted (1) (9,191) Options granted (323) Share-based awards canceled/forfeited/expired (1)(2) 4,020 Balance at July 31, 2021 16,851 Additional shares authorized 19,903 Restricted stock units granted (1) (14,868) Options granted (400) Share-based awards canceled/forfeited/expired (1)(2) 4,774 Balance at July 31, 2022 26,260 Restricted stock units granted (1) (12,098) Options granted (413) Share-based awards canceled/forfeited/expired (1)(2) 5,277 Balance at July 31, 2023 19,026 (1) RSUs granted from the pool of shares available for grant under our Restated 2005 Plan reduce the pool by 2.3 shares for each share granted. RSUs forfeited and returned to the pool of shares available for grant under the Restated 2005 Plan increase the pool by 2.3 shares for each share forfeited. Through January 20, 2022, shares granted from the Credit Karma Plan reduce the pool by one share for each share granted and shares forfeited and returned to the pool from the Credit Karma Plan increase the pool by one share for each share forfeited. Beginning January 20, 2022, shares forfeited and returned to the pool from the Credit Karma Plan increase the pool by 2.3 shares for each share forfeited. No shares were granted from the Credit Karma Plan after January 20, 2022. (2) Stock options and RSUs canceled, expired, or forfeited under our Restated 2005 Plan and Credit Karma Plan are returned to the pool of shares available for grant. Under the Restated 2005 Plan, 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. Under the Credit Karma Plan, shares withheld for income taxes are also returned to the pool of shares available for grant. Restricted Stock Unit and Restricted Stock Activity A summary of RSU and restricted stock activity for the periods indicated was as follows: (Shares in thousands) Number Weighted Nonvested at July 31, 2020 5,664 $231.97 Assumed through acquisition 1,998 355.49 Granted (1) 3,877 431.82 Restricted stock subject to revest provisions issued in connection with acquisition 775 355.49 Vested (2,242) 262.23 Forfeited (1,034) 251.41 Nonvested at July 31, 2021 9,038 345.86 Granted (2) 6,634 466.12 Vested (3,154) 351.80 Forfeited (1,051) 351.15 Nonvested at July 31, 2022 11,467 413.32 Granted 5,260 452.45 Vested (4,019) 414.12 Forfeited (814) 364.45 Nonvested at July 31, 2023 11,894 $433.70 (1) This includes 809,000 RSUs granted to employees of Credit Karma in connection with the acquisition with a grant date fair value of $300 million. See Note 7, “ Business Combinations .” (2) This includes approximately 583,000 RSUs granted to employees of Mailchimp in substitution of outstanding equity incentive awards with a grant date fair value of $355 million and approximately 325,000 RSUs granted to employees of Mailchimp in connection with the acquisition with a grant date fair value of $211 million. See Note 7, “ Business Combinations. ” Additional information regarding our RSUs is shown in the table below. Twelve Months Ended July 31, (In millions) 2023 2022 2021 Total fair market value of shares vested $ 1,673 $ 1,658 $ 942 Share-based compensation for RSUs $ 1,636 $ 1,248 $ 708 Total tax benefit related to RSU share-based compensation expense $ 339 $ 375 $ 225 Cash tax benefits realized for tax deductions for RSUs $ 347 $ 334 $ 221 At July 31, 2023, there was $4.8 billion of unrecognized compensation cost related to non-vested RSUs and restricted stock with a weighted-average vesting period of 3.0 years. We will adjust unrecognized compensation cost for actual forfeitures as they occur. Stock Option Activity A summary of stock option activity for the periods indicated was as follows: Options Outstanding (Shares in thousands) Number of Weighted Average Balance at July 31, 2020 2,681 $185.83 Granted 323 525.51 Exercised (718) 128.39 Canceled or expired (82) 264.53 Balance at July 31, 2021 2,204 251.48 Granted 400 448.59 Exercised (242) 164.94 Canceled or expired (70) 426.22 Balance at July 31, 2022 2,292 289.62 Granted 413 489.85 Exercised (551) 163.64 Canceled or expired (24) 368.72 Balance at July 31, 2023 2,130 $360.17 Information regarding stock options outstanding as of July 31, 2023 is summarized below: Number Weighted- Weighted- Aggregate Options outstanding 2,130 4.26 $360.17 $327 Options exercisable 1,205 2.84 $278.28 $283 The aggregate intrinsic values at July 31, 2023 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, 2023 were options that had exercise prices that were lower than the $511.70 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) 2023 2022 2021 Weighted-average fair value of options granted (per share) $ 144.92 $ 136.76 $ 122.16 Total grant date fair value of options vested $ 33 $ 25 $ 17 Aggregate intrinsic value of options exercised $ 150 $ 78 $ 179 Share-based compensation expense for stock options and ESPP $ 76 $ 60 $ 45 Total tax benefit for stock option and ESPP share-based compensation $ 34 $ 21 $ 44 Cash received from option exercises $ 90 $ 40 $ 92 Cash tax benefits realized related to tax deductions for non-qualified option exercises and disqualifying dispositions under all share-based payment arrangements $ 31 $ 37 $ 48 At July 31, 2023, there was $123 million of unrecognized compensation cost related to non-vested stock options with a weighted-average vesting period of 3.2 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) 2023 2022 Unrealized loss on available-for-sale debt securities $ (7) $ (7) Foreign currency translation adjustments (48) (53) Total accumulated other comprehensive loss $ (55) $ (60)

Benefit Plans

Benefit Plans	12 Months Ended
	Jul. 31, 2023
Retirement Benefits [Abstract]
Benefit Plans	13. 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 $171 million at July 31, 2023, and $147 million at July 31, 2022. 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) Plans 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 IRS limitations and the terms and conditions of the plan. We match a portion of employee contributions, currently 125% up to six percent of compensation, subject to maximum aggregate matching amounts and IRS limitations. Additionally, Credit Karma employees in the United States who participate in the Credit Karma 401(k) Plan may currently contribute up to 90% of pre-tax compensation, subject to IRS limitations and the terms and conditions of the plan. We match a portion of Credit Karma employee contributions, currently 100% up to six percent of compensation each pay period, subject to maximum aggregate matching amounts and IRS limitations. Matching contributions for both plans were $136 million for the twelve months ended July 31, 2023; $118 million for the twelve months ended July 31, 2022; and $80 million for the twelve months ended July 31, 2021.

Legal Proceedings

Legal Proceedings	12 Months Ended
	Jul. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	14. Legal Proceedings 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 and continue to defend our interests in them. These proceedings included, among others, multiple putative class actions that were consolidated into a single putative class action in the Northern District of California in September 2019 (the Intuit Free File Litigation). In August 2020, the Ninth Circuit Court of Appeals ordered that the putative class action claims be resolved through arbitration. In May 2021, the Intuit Free File Litigation was dismissed on a non-class basis after we entered into an agreement that resolved the matter on an individual non-class basis, without any admission of wrongdoing, for an amount that was not material. These proceedings also include a class action lawsuit that was filed in the Ontario (Canada) Superior Court of Justice on August 25, 2022. These proceedings also included individual demands for arbitration that were filed beginning in October 2019. As of January 31, 2023, we settled all of these arbitration claims, without any admission of wrongdoing, for an amount that was not material. In June 2021, we received a demand and draft complaint from the Federal Trade Commission (FTC) and certain state attorneys general relating to the ongoing inquiries described above. On March 29, 2022, the FTC filed an action in federal court seeking a temporary restraining order and a preliminary injunction enjoining certain Intuit business practices pending resolution of the FTC’s administrative complaint seeking to permanently enjoin certain Intuit business practices (the FTC Actions). On April 22, 2022, the Northern District of California denied the FTC’s requests for a temporary restraining order and a preliminary injunction. Beginning on March 27, 2023, a final hearing on the administrative action was held before an administrative law judge at the FTC. That hearing concluded in April 2023 and, on August 29, 2023, the FTC administrative law judge issued an initial decision that was adverse to Intuit, requiring us to adhere to certain marketing practices but with no monetary penalty. This decision remains subject to further review by the FTC Commissioners before it takes effect. We expect to appeal this decision to the FTC Commissioners and, if necessary, then to a federal court of appeals. We intend to continue to defend our position on the merits of this case. However, the defense and resolution of this matter could involve significant costs. The state attorneys general did not join the FTC Actions, and, on May 4, 2022, we entered into a settlement agreement with the attorneys general of the 50 states and the District of Columbia, admitting no wrongdoing, that resolved the states’ inquiry, as well as actions brought by the Los Angeles City Attorney and the Santa Clara County (California) Counsel. As part of this agreement, we agreed to pay $141 million and made certain commitments regarding our advertising and marketing practices. We recorded this as a one-time charge in the quarter ended April 30, 2022, and paid the full amount to the fund administrator in the quarter ended January 31, 2023. In view of the complexity and ongoing and uncertain nature of the outstanding 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 the remaining matters. 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. 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 licenses 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, 2023
Segment Reporting [Abstract]
Segment Information	15. Segment Information We have defined our four 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. On December 3, 2020, we acquired Credit Karma in a business combination and it operates as a separate reportable segment. We have included the results of operations of Credit Karma in our consolidated statements of operations from the date of acquisition. See Note 7, "Business Combinations," for more information. Segment operating income for Credit Karma includes all direct expenses, which is different from our other reportable segments where we do not fully allocate corporate expenses. On November 1, 2021, we acquired Mailchimp in a business combination. Our Mailchimp offerings are part of our Small Business & Self-Employed segment. The related revenue is primarily included within Online Services in the revenue disaggregation below. We have included the results of operations of Mailchimp in our consolidated statements of operations from the date of acquisition. On August 1, 2022, to better align our personal finance strategy, our Mint offering moved from our Consumer segment to our Credit Karma segment. Revenue and operating results for Mint are not material, and the previously reported segment results have not been reclassified. Effective August 1, 2022, the operating results for Mint are included in the Credit Karma segment. On August 1 2022, we renamed our ProConnect segment as the ProTax segment. This segment continues to serve professional accountants. 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 QuickBooks offerings include financial and business management online services and desktop software, payroll solutions, time tracking, merchant payment processing and bill pay solutions, and checking accounts through an FDIC member bank partner and financing for small businesses. Our Mailchimp offerings include marketing automation and customer relationship management. 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. Credit Karma : This segment serves consumers with a personal finance platform that provides personalized recommendations of credit card, home, auto, and personal loan, and insurance products; online savings and checking accounts through an FDIC member bank partner; and access to their credit scores and reports, credit and identity monitoring, credit report dispute, credit building tools, and tools to help understand net worth and make financial progress. Our Mint offering is a personal finance offering which helps customers track their finances and daily financial behaviors. ProTax : 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, and ProConnect Tax Online in the U.S., and ProFile and ProTax Online in Canada. All of our segments operate primarily in the United States and sell primarily to customers in the United States. Total international net revenue was approximately 8%, 8%, and 5% of consolidated total net revenue for the twelve months ended July 31, 2023, 2022, and 2021, respectively. We include expenses such as corporate selling and marketing, product development, general and administrative, and non-employment related legal and litigation settlement costs, which are not allocated to specific segments, in unallocated corporate items as part of other corporate expenses. For our Credit Karma reportable segment, segment expenses include all direct expenses related to selling and marketing, product development, and general and administrative. Unallocated corporate items for all segments include share-based compensation, amortization of acquired technology, amortization of other acquired intangible assets, goodwill and intangible asset impairment charges, and professional fees and transaction charges related to business combinations. 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 6, “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) 2023 2022 2021 Net revenue: Small Business & Self-Employed $ 8,038 $ 6,460 $ 4,688 Consumer 4,135 3,915 3,563 Credit Karma 1,634 1,805 865 ProTax 561 546 517 Total net revenue $ 14,368 $ 12,726 $ 9,633 Operating income: Small Business & Self-Employed $ 4,532 $ 3,499 $ 2,590 Consumer 2,707 2,483 2,237 Credit Karma 428 531 182 ProTax 395 383 372 Total segment operating income 8,062 6,896 5,381 Unallocated corporate items: Share-based compensation expense (1,712) (1,308) (753) Other corporate expenses (2,563) (2,461) (1,932) Amortization of acquired technology (163) (140) (50) Amortization of other acquired intangible assets (483) (416) (146) Total unallocated corporate items (4,921) (4,325) (2,881) Total operating income $ 3,141 $ 2,571 $ 2,500 Revenue classified by significant product and service offerings was as follows: Twelve Months Ended July 31, (In millions) 2023 2022 2021 Net revenue: QuickBooks Online Accounting $ 2,849 $ 2,267 $ 1,699 Online Services 2,910 2,171 1,051 Total Online Ecosystem 5,759 4,438 2,750 QuickBooks Desktop Accounting 1,110 851 789 Desktop Services and Supplies 1,169 1,171 1,149 Total Desktop Ecosystem 2,279 2,022 1,938 Small Business & Self-Employed 8,038 6,460 4,688 Consumer 4,135 3,915 3,563 Credit Karma 1,634 1,805 865 ProTax 561 546 517 Total net revenue $ 14,368 $ 12,726 $ 9,633

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Jul. 31, 2023
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 Additions Deductions Ending Year ended July 31, 2023 Allowance for doubtful accounts $ 31 $ 57 $ (81) $ 7 Reserve for returns, credits, and promotional discounts 31 261 (260) 32 Year ended July 31, 2022 Allowance for doubtful accounts $ 96 $ 74 $ (139) $ 31 Reserve for returns, credits, and promotional discounts 31 247 (247) 31 Year ended July 31, 2021 Allowance for doubtful accounts $ 12 $ 92 $ (8) $ 96 Reserve for returns, credits, and promotional discounts 35 230 (234) 31

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jul. 31, 2023
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 material intercompany balances and transactions in consolidation. We have reclassified certain amounts previously reported in our financial statements that were not material, to conform to the current presentation. We acquired Credit Karma on December 3, 2020. We have included the results of operations for Credit Karma in our consolidated statements of operations from the date of acquisition. Credit Karma operates as a separate reportable segment. See Note 15, "Segment Information," for more information. We acquired The Rocket Science Group LLC (Mailchimp) on November 1, 2021. We have included the results of operations for Mailchimp in our consolidated statements of operations from the date of acquisition. Our Mailchimp offerings are part of our Small Business & Self-Employed segment. See Note 7, “ Business Combinations, ” for more information. On August 1 2022, we renamed our ProConnect segment as the ProTax segment. This segment continues to serve professional accountants. See Note 15, "Segment Information," for more information. On August 1, 2022, to better align our personal finance strategy, our Mint offering moved from our Consumer segment to our Credit Karma segment. See Note 15, "Segment Information," for more information.
Seasonality	Seasonality Our Consumer and ProTax offerings have a significant and distinct seasonal pattern as sales and revenue from our income tax preparation products and services are typically concentrated in the period from November through April. This seasonal pattern typically results in higher net revenues during our second and third quarters ending January 31 and April 30, respectively. In fiscal 2021, the IRS extended the tax filing deadline from April to May 17, 2021. As a result of this extension, a significant amount of our fiscal 2021 Consumer segment and ProTax segment revenues were recognized in the fourth quarter as compared to the third quarter of fiscal 2023 and 2022.
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, the realizability of deferred tax assets, the credit losses of available-for-sale debt securities, reserves for losses, and the fair value of assets acquired and liabilities assumed for business combinations. 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
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, delivery of qualified links, and 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 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. Our Mailchimp offerings include marketing automation and customer relationship management. 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. Desktop Offerings Our desktop offerings consist of our subscription-based QuickBooks Desktop products, 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 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 not material within the context of the contract. Our consumer and professional tax packaged desktop software 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 consumer tax packaged desktop software products in non-consignment and consignment arrangements to certain retailers. Additionally, we sell our QuickBooks Enterprise software on retailer websites. For these retailers, we begin recognizing revenue at the later of when control has transferred to the retailer or customer for consumer tax packaged desktop software and upon activation of the subscriptions by the customer for QuickBooks subscription offerings. 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. Other Solutions Revenue from our Credit Karma segment is primarily comprised of revenue from the delivery of qualified links that result in completed actions, or cost-per-action transactions. Credit Karma also generates revenue from cost-per-click and cost-per-lead transactions. All revenue from our Credit Karma segment is included in service and other revenue in our consolidated statements of operations. Cost-per-action revenue is earned based on a pre-determined fee for approved actions, such as when credit cards are issued or when personal loans and other loans to businesses are funded. Revenue is recognized when a lead is generated that results in one of these approved actions. Cost-per-click and cost-per-lead revenue is primarily related to mortgage and insurance businesses. Cost-per-click revenue is earned as users click on our customers' advertisements and is recognized based on the number of clicks recorded each month. Cost-per-lead revenue is earned via customer advertisements that allow the generation of leads from consumers interested in the advertised products and is recognized at the time a consumer request or lead is delivered to the customer. Revenue from the sale of our financial supplies, such as printed check stock and hardware, including 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; our Credit Karma offerings; support, electronic filing services, and connected services included with our desktop offerings; merchant payment processing services; revenue-sharing and royalty arrangements; and interest on loans and amounts held for customers. 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. Revenue for electronic payment processing services that we provide to merchants is recorded net of interchange fees charged by credit card associations. We hold customer cash as part of delivering payroll and payment services, and we include in total net revenue the interest earned on these funds from the time they are collected until the time that we remit them to outside parties or merchants. 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 toward 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 are 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 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, 2023, we recognized revenue of $808 million, that was included in deferred revenue at July 31, 2022. During the twelve months ended July 31, 2022, we recognized revenue of $684 million, that was included in deferred revenue at July 31, 2021. Our performance obligations are generally satisfied within 12 months of the initial contract date. As of July 31, 2023 and 2022 , the deferred revenue balance related to performance obligations that will be satisfied after 12 months was $5 million and $6 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 sales commissions are considered incremental costs of obtaining the contract with a customer. 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 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 customer service and technical support associated with our online or hosted offerings in cost of service and other revenue line in our consolidated statements of operations. We also include the costs of providing technical support for our desktop offerings in cost of service and other revenue. We include the costs of customer service 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 technical support assistance to customers. We expense the cost of providing this 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 three
Advertising	Advertising
Leases	Leases Our leases are primarily operating leases for office facilities. We do not have material 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 the lease 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 ours. 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 material for any period presented.
Foreign Currency	Foreign Currency
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 statements 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 Per Share	Computation of Net Income Per Share We compute basic net income 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.
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 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 in our consolidated statements 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 Allowance for Doubtful Accounts	Accounts Receivable and Allowances for Doubtful Accounts Accounts receivable are recorded at the invoiced amount and are not interest bearing. Third-party payment processor receivables due from financial institutions for the settlement of credit and debit card transactions for the sales of our products and services are included in accounts receivable. We maintain an allowance for doubtful accounts to reserve for credit losses. In determining the amount of the allowance, we consider our historical level of credit losses, current economic trends that might impact the level of future credit losses, customer-specific information, and reasonable and supportable forecasts of future economic conditions to inform adjustments to historical loss data. We make judgments about the creditworthiness of significant customers based on ongoing credit evaluations. When we determine that amounts are uncollectible, we write them off against the allowance.
Funds Receivable and Amounts Held for Customers and Funds Payable and Amounts Due to Customers	Funds Receivable and Amounts Held for Customers and Funds Payable and Amounts Due to Customers Funds receivable and amounts held for customers represents funds receivable from third-party payment processors for customer transactions and 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. Funds payable and amounts due to customers 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 two
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 recognize such costs as general and administrative expenses 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 material 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 is not amortized, but is tested 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. 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. two
Share-Based Compensation Plans	Share-Based Compensation Plans 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 market or performance goals. 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. 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. 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. 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.
Concentration of Credit Risk and Significant Customers and Suppliers	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 material 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. Our cash balances are primarily on deposit at high credit quality financial institutions. These deposits are typically in excess of insured limits.
Accounting Standards Not Yet Adopted	Accounting Standards Not Yet Adopted We do not expect that any recently issued accounting pronouncements will have a material 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, 2023
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) 2023 2022 2021 Numerator: Net income $ 2,384 $ 2,066 $ 2,062 Denominator: Shares used in basic per share amounts: Weighted-average common shares outstanding 281 280 270 Shares used in diluted per share amounts: Weighted-average common shares outstanding 281 280 270 Dilutive common equivalent shares from stock options and restricted stock awards 2 4 3 Dilutive weighted-average common shares outstanding 283 284 273 Basic and diluted net income per share: Basic net income per share $ 8.49 $ 7.38 $ 7.65 Diluted net income per share $ 8.42 $ 7.28 $ 7.56 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 1 —

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Jul. 31, 2023
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, 2023 At July 31, 2022 (In millions) Level 1 Level 2 Total Level 1 Level 2 Total Assets: Cash equivalents, primarily money market funds $ 1,888 $ — $ 1,888 $ 1,835 $ — $ 1,835 Available-for-sale debt securities: Corporate notes — 805 805 — 589 589 U.S. agency securities — 209 209 — 96 96 Total available-for-sale debt securities — 1,014 1,014 — 685 685 Total assets measured at fair value on a recurring basis $ 1,888 $ 1,014 $ 2,902 $ 1,835 $ 685 $ 2,520 Liabilities: Senior unsecured notes (1) $ — $ 1,309 $ 1,309 $ — $ 1,838 $ 1,838 (1) Carrying values on our consolidated balance sheets were $1.49 billion and $1.99 billion at July 31, 2023 and July 31, 2022, respectively. See Note 8, “ Debt” for more information.
Cash equivalents and available-for-sale debt and equity securities by balance sheet classification and level in the fair value hierarchy	The following table summarizes our cash equivalents and available-for-sale debt securities by balance sheet classification and level in the fair value hierarchy at the dates indicated: At July 31, 2023 At July 31, 2022 (In millions) Level 1 Level 2 Total Level 1 Level 2 Total Cash equivalents: In cash and cash equivalents $ 1,888 $ — $ 1,888 $ 1,835 $ — $ 1,835 Available-for-sale debt securities: In investments $ — $ 814 $ 814 $ — $ 485 $ 485 In funds receivable and amounts held for customers — 200 200 — 200 200 Total available-for-sale debt securities $ — $ 1,014 $ 1,014 $ — $ 685 $ 685

Cash and Cash Equivalents, In_2

Cash and Cash Equivalents, Investments, and Funds Receivable and Amounts Held for Customers (Tables)	12 Months Ended
	Jul. 31, 2023
Cash and Cash Equivalents, Investments, and Funds Receivable and Amounts Held for Customers [Abstract]
Cash and cash equivalents, investments and funds receivable and amounts held for customers by balance sheet classification	The following table summarizes our cash and cash equivalents, investments, and funds receivable and amounts held for customers by balance sheet classification at the dates indicated. July 31, 2023 July 31, 2022 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value Classification on consolidated balance sheets: Cash and cash equivalents $ 2,848 $ 2,848 $ 2,796 $ 2,796 Investments 819 814 490 485 Funds receivable and amounts held for customers 424 420 435 431 Total cash and cash equivalents, investments, and funds receivable and amounts held for customers $ 4,091 $ 4,082 $ 3,721 $ 3,712
Cash and cash equivalents, investments and relevant portion of funds receivable and amounts held for customers by investment category	The following table summarizes our cash and cash equivalents, investments, and relevant portion of funds receivable and amounts held for customers by investment category at the dates indicated. As of July 31, 2023 and July 31, 2022, this excludes $216 million and $30 million, respectively, of funds receivable included on our consolidated balance sheets in funds receivable and amounts held for customers not measured and recorded at fair value. July 31, 2023 July 31, 2022 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value Type of issue: Total cash, cash equivalents, restricted cash, and restricted cash equivalents $ 2,852 $ 2,852 $ 2,997 $ 2,997 Available-for-sale debt securities: Corporate notes 811 805 597 589 U.S. agency securities 212 209 97 96 Total available-for-sale debt securities 1,023 1,014 694 685 Total cash, cash equivalents, restricted cash, restricted cash equivalents, and investments $ 3,875 $ 3,866 $ 3,691 $ 3,682
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 relevant portion of funds receivable and amounts held for customers, classified by the stated maturity date of the security at the dates indicated. July 31, 2023 July 31, 2022 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value Due within one year $ 735 $ 730 $ 316 $ 313 Due within two years 147 144 298 293 Due within three years 141 140 79 78 Due after three years — — 1 1 Total available-for-sale debt securities $ 1,023 $ 1,014 $ 694 $ 685
Schedule of funds receivable and amounts held for customers	The following table summarizes our funds receivable and amounts held for customers by asset category at the dates indicated. (In millions) July 31, 2023 July 31, 2022 July 31, 2021 July 31, 2020 Restricted cash and restricted cash equivalents $ 4 $ 201 $ 257 $ 255 Restricted available-for-sale debt securities and funds receivable 416 230 200 200 Total funds receivable and amounts held for customers $ 420 $ 431 $ 457 $ 455

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Jul. 31, 2023
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 2023 2022 Equipment 3-5 $ 214 $ 208 Computer software 2-6 898 911 Furniture and fixtures 5 104 101 Leasehold improvements 2-16 404 366 Land NA 79 79 Buildings 5-30 382 378 Capital in progress NA 360 283 2,441 2,326 Less accumulated depreciation and amortization (1,472) (1,438) Total property and equipment, net $ 969 $ 888 __________________________ NA = Not Applicable

Goodwill and Acquired Intangi_2

Goodwill and Acquired Intangible Assets (Tables)	12 Months Ended
	Jul. 31, 2023
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, 2023 and July 31, 2022 were as shown in the following table. Our reportable segments are described in Note 15, “Segment Information.” (In millions) Balance Goodwill Acquired/ Foreign Currency Translation Balance Goodwill Acquired/ Foreign Currency Translation Balance Small Business & Self-Employed $ 1,578 $ 8,115 $ (4) $ 9,689 $ 1 $ 1 $ 9,691 Consumer 42 10 (1) 51 — — 51 Credit Karma 3,898 5 (4) 3,899 40 2 3,941 ProTax 95 2 — 97 — — 97 Totals $ 5,613 $ 8,132 $ (9) $ 13,736 $ 41 $ 3 $ 13,780
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 Trade Covenants Total At July 31, 2023: Cost $ 6,197 $ 1,616 $ 680 $ 42 $ 8,535 Accumulated amortization (1,178) (756) (140) (42) (2,116) Acquired intangible assets, net $ 5,019 $ 860 $ 540 $ — $ 6,419 Weighted-average life in years 14 8 13 0 13 At July 31, 2022: Cost $ 6,197 $ 1,612 $ 680 $ 42 $ 8,531 Accumulated amortization (748) (593) (87) (42) (1,470) Acquired intangible assets, net $ 5,449 $ 1,019 $ 593 $ — $ 7,061 Weighted-average life in years 14 8 13 0 13
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, 2023. Amortization of purchased technology is charged 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 Twelve months ending July 31, 2024 $ 626 2025 624 2026 620 2027 594 2028 581 Thereafter 3,374 Total expected future amortization expense $ 6,419

Business Combinations (Tables)

Business Combinations (Tables)	12 Months Ended
	Jul. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of recognized identified assets acquired and liabilities assumed	The allocation of the Mailchimp purchase price is as follows: (In millions) Amount Cash and cash equivalents $ 42 Investments 126 Accounts receivable, net 25 Income taxes receivable 1 Prepaid expenses and other current assets 24 Long-term investments 1 Property and equipment, net 15 Operating lease right-of-use assets 31 Goodwill 8,102 Intangible assets 4,340 Long-term deferred income tax assets 6 Other assets 1 Accounts payable (163) Accrued compensation and related liabilities (409) Deferred revenue (52) Other current liabilities (69) Long-term portion of operating lease liabilities (20) Other long-term obligations (5) Total purchase price allocation $ 11,996 The allocation of the Credit Karma purchase price is as follows: (In millions) Amount Cash and cash equivalents $ 436 Accounts receivable, net 141 Income taxes receivable 59 Prepaid expenses and other current assets 7 Long-term investments 3 Property and equipment, net 63 Operating lease right-of-use assets 167 Goodwill 3,898 Intangible assets 3,372 Other assets 81 Accounts payable (86) Accrued compensation and related liabilities (113) Other current liabilities (24) Operating lease liabilities (172) Long-term deferred income tax liabilities (627) Other long-term obligations (10) Total purchase price allocation $ 7,195
Schedule of finite-lived intangible assets acquired as part of business combination	The following table presents the details of identifiable intangible assets acquired. (In millions, except years) Estimated Useful Life Amount Customer lists 13 years $ 3,160 Purchased technology 9 years 900 Trade names/trademarks 10 years 280 Total identifiable intangible assets $ 4,340 (In millions, except years) Estimated Useful Life Amount User relationships 15 years $ 2,781 Trade names/Trademarks 15 years 375 Purchased technology 6 years 216 Total identifiable intangible assets $ 3,372
Schedule of deferred tax assets and liabilities acquired	The following table summarizes the long-term deferred income tax assets and liabilities included in the purchase price allocation above: (In millions) Amount Intangibles $ (851) Federal and state net operating loss carryforwards 138 Federal research and experimentation credit carryforwards 51 Other, net 35 Total net long-term deferred income tax liabilities $ (627)

Debt (Tables)

Debt (Tables)	12 Months Ended
	Jul. 31, 2023
Debt Disclosure [Abstract]
Carrying value of debt	The carrying value of our debt was as follows at the dates indicated: July 31, July 31, Effective (In millions) 2023 2022 Interest Rate Senior unsecured notes issued June 2020: 0.650% notes due July 2023 $ — $ 500 0.837% 0.950% notes due July 2025 500 500 1.127% 1.350% notes due July 2027 500 500 1.486% 1.650% notes due July 2030 500 500 1.767% Term loan 4,200 4,700 Secured revolving credit facilities 430 230 Total principal balance of debt 6,130 6,930 Unamortized discount and debt issuance costs (10) (16) Net carrying value of debt $ 6,120 $ 6,914 Short-term debt $ — $ 499 Long-term debt $ 6,120 $ 6,415
Future principal payments for long-term debt	Future principal payments for debt at July 31, 2023 were as shown in the table below. (In millions) Fiscal year ending July 31, 2024 $ — 2025 4,700 2026 430 2027 500 2028 — Thereafter 500 Total future principal payments for debt $ 6,130

Other Liabilities and Commitm_2

Other Liabilities and Commitments (Tables)	12 Months Ended
	Jul. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Other current liabilities	Other current liabilities were as follows at the dates indicated: July 31, (In millions) 2023 2022 Executive deferred compensation plan liabilities $ 171 $ 147 Current portion of operating lease liabilities 89 84 Sales, property, and other taxes 45 40 Reserve for returns, credits, and promotional discounts 32 31 Accrued settlement for state attorneys general — 141 Other 111 128 Total other current liabilities $ 448 $ 571
Other long-term obligations	Other long-term obligations were as follows at the dates indicated: July 31, (In millions) 2023 2022 Income tax liabilities $ 76 $ 44 Dividend payable 16 12 Deferred revenue 5 6 Other 20 25 Total other long-term obligations $ 117 $ 87
Annual minimum commitments under purchase obligations	Annual minimum commitments under purchase obligations at July 31, 2023 were as shown in the table below. (In millions) Purchase Fiscal year ending July 31, 2024 $ 596 2025 574 2026 313 2027 68 2028 55 Thereafter 440 Total commitments $ 2,046

Leases (Tables)

Leases (Tables)	12 Months Ended
	Jul. 31, 2023
Leases [Abstract]
Components of lease expense	The components of lease expense were as follows: Twelve Months Ended July 31, (In millions) 2023 2022 2021 Operating lease cost (1) $ 124 $ 105 $ 75 Variable lease cost 20 15 11 Sublease income (12) (17) (16) Total net lease cost $ 132 $ 103 $ 70 (1) Includes short-term leases, which were not material for the twelve months ended July 31, 2023, 2022 or 2021. Supplemental cash flow information related to operating leases was as follows: Twelve Months Ended July 31, (In millions) 2023 2022 2021 Cash paid for amounts included in the measurement of operating lease liabilities $ 107 $ 104 $ 76 Right-of-use assets obtained in exchange for operating lease liabilities $ 28 $ 238 $ 60 Other information related to operating leases was as follows at the dates indicated: July 31, 2023 2022 2021 Weighted-average remaining lease term for operating leases 7.9 years 8.1 years 6.8 years Weighted-average discount rate for operating leases 3 % 2.9 % 2.3 % Supplemental balance sheet information related to operating leases was as follows at the dates indicated: July 31, (In millions) 2023 2022 Operating lease right-of-use assets $ 469 $ 549 Other current liabilities $ 89 $ 84 Operating lease liabilities 480 542 Total operating lease liabilities $ 569 $ 626
Future minimum lease payments	Future minimum lease payments under non-cancellable operating leases as of July 31, 2023 were as follows: (In millions) Operating Leases (1) Fiscal year ending July 31, 2024 $ 76 2025 95 2026 78 2027 70 2028 60 Thereafter 281 Total future minimum lease payments 660 Less imputed interest (91) Present value of lease liabilities $ 569 (1) Non-cancellable sublease proceeds for the fiscal years ending July 31, 2024, 2025, 2026, 2027, 2028, and thereafter of $11 million, $6 million, $1 million, $1 million, $1 million, and $2 million, respectively, are not included in the table above.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jul. 31, 2023
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) 2023 2022 2021 Current: Federal $ 970 $ 253 $ 399 State 208 93 121 Foreign 86 31 17 Total current 1,264 377 537 Deferred: Federal (559) 85 (33) State (99) 18 (11) Foreign (1) (4) 1 Total deferred (659) 99 (43) Total provision for income taxes $ 605 $ 476 $ 494
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) 2023 2022 2021 United States $ 2,798 $ 2,433 $ 2,497 Foreign 191 109 59 Total $ 2,989 $ 2,542 $ 2,556
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) 2023 2022 2021 Income before income taxes $ 2,989 $ 2,542 $ 2,556 Statutory federal income tax $ 628 $ 534 $ 537 State income tax, net of federal benefit 86 87 87 Federal research and experimentation credits (106) (94) (70) Share-based compensation 58 45 32 Excess tax benefits related to share-based compensation (26) (112) (105) Effects of non-U.S. operations (28) 4 4 Other, net (7) 12 9 Total provision for income taxes $ 605 $ 476 $ 494
Components of deferred tax assets and liabilities	Material deferred tax assets and liabilities were as follows at the dates indicated: July 31, (In millions) 2023 2022 Deferred tax assets: Accruals and reserves not currently deductible $ 31 $ 84 Capitalized research and development (1) 667 — Operating lease liabilities 153 168 Accrued and deferred compensation 90 84 Loss and tax credit carryforwards 256 224 Intangible assets — 25 Share-based compensation 94 97 Other, net 27 23 Total gross deferred tax assets 1,318 705 Valuation allowance (235) (244) Total deferred tax assets 1,083 461 Deferred tax liabilities: Operating lease right-of-use assets 128 149 Intangibles 840 868 Property and equipment 8 9 Other, net 47 43 Total deferred tax liabilities 1,023 1,069 Net deferred tax assets (liabilities) $ 60 $ (608) (1) As required by the 2017 Tax Cuts & Jobs Act, our research and development costs are capitalized and amortized for U.S. tax purposes for the twelve months ended July 31, 2023. The mandatory capitalization requirement significantly increased our deferred tax assets at July 31, 2023.
Components of net deferred tax assets, net of valuation allowances	The components of total net deferred tax assets (liabilities), net of valuation allowances, as shown on our consolidated balance sheets were as follows at the dates indicated: July 31, (In millions) 2023 2022 Long-term deferred income tax assets $ 64 $ 11 Long-term deferred income tax liabilities (4) (619) Net deferred tax assets (liabilities) $ 60 $ (608)
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) 2023 2022 2021 Gross unrecognized tax benefits, beginning balance $ 216 $ 190 $ 101 Increases related to tax positions from prior fiscal years, including acquisitions 11 9 69 Decreases related to tax positions from prior fiscal years (16) (13) — Increases related to tax positions taken during current fiscal year 38 31 31 Settlements with tax authorities (2) — — Lapse of statute of limitations (1) (1) (11) Gross unrecognized tax benefits, ending balance $ 246 $ 216 $ 190

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Jul. 31, 2023
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) 2023 2022 2021 Cost of product revenue $ 3 $ 2 $ 1 Cost of service and other revenue 371 144 68 Selling and marketing 429 309 183 Research and development 532 521 281 General and administrative 377 332 220 Total share-based compensation expense 1,712 1,308 753 Income tax benefit (373) (396) (269) Decrease in net income $ 1,339 $ 912 $ 484 Decrease in net income per share: Basic $ 4.77 $ 3.26 $ 1.79 Diluted $ 4.73 $ 3.21 $ 1.77
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, 2023 2022 2021 Assumptions for stock options: Expected volatility (range) 30.41% - 33.19% 35 % 29 % Weighted-average expected volatility 30.67 % 35 % 29 % Risk-free interest rate (range) 3.52% - 4.46% 2.73 % 0.62 % Expected dividend yield 0.63 % 0.61 % 0.45 % Assumptions for ESPP: Expected volatility (range) 38% - 48% 26% - 39% 31% - 36% Weighted-average expected volatility 42 % 23 % 34 % Risk-free interest rate (range) 1.59% - 4.74% 0.04% - 0.44% 0.02% - 0.17% Expected dividend yield (range) 0.74% - 0.81% 0.47% - 0.59% 0.60% - 0.75%
Share-based awards available for grant	A summary of share-based awards available for grant under our plans for the fiscal periods indicated was as follows: (Shares in thousands) Shares Balance at July 31, 2020 18,047 Shares available for grant under the Credit Karma Plan 4,298 Restricted stock units granted (1) (9,191) Options granted (323) Share-based awards canceled/forfeited/expired (1)(2) 4,020 Balance at July 31, 2021 16,851 Additional shares authorized 19,903 Restricted stock units granted (1) (14,868) Options granted (400) Share-based awards canceled/forfeited/expired (1)(2) 4,774 Balance at July 31, 2022 26,260 Restricted stock units granted (1) (12,098) Options granted (413) Share-based awards canceled/forfeited/expired (1)(2) 5,277 Balance at July 31, 2023 19,026 (1) RSUs granted from the pool of shares available for grant under our Restated 2005 Plan reduce the pool by 2.3 shares for each share granted. RSUs forfeited and returned to the pool of shares available for grant under the Restated 2005 Plan increase the pool by 2.3 shares for each share forfeited. Through January 20, 2022, shares granted from the Credit Karma Plan reduce the pool by one share for each share granted and shares forfeited and returned to the pool from the Credit Karma Plan increase the pool by one share for each share forfeited. Beginning January 20, 2022, shares forfeited and returned to the pool from the Credit Karma Plan increase the pool by 2.3 shares for each share forfeited. No shares were granted from the Credit Karma Plan after January 20, 2022. (2) Stock options and RSUs canceled, expired, or forfeited under our Restated 2005 Plan and Credit Karma Plan are returned to the pool of shares available for grant. Under the Restated 2005 Plan, 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. Under the Credit Karma Plan, shares withheld for income taxes are also returned to the pool of shares available for grant.
Summary of restricted stock unit activity	A summary of RSU and restricted stock activity for the periods indicated was as follows: (Shares in thousands) Number Weighted Nonvested at July 31, 2020 5,664 $231.97 Assumed through acquisition 1,998 355.49 Granted (1) 3,877 431.82 Restricted stock subject to revest provisions issued in connection with acquisition 775 355.49 Vested (2,242) 262.23 Forfeited (1,034) 251.41 Nonvested at July 31, 2021 9,038 345.86 Granted (2) 6,634 466.12 Vested (3,154) 351.80 Forfeited (1,051) 351.15 Nonvested at July 31, 2022 11,467 413.32 Granted 5,260 452.45 Vested (4,019) 414.12 Forfeited (814) 364.45 Nonvested at July 31, 2023 11,894 $433.70 (1) This includes 809,000 RSUs granted to employees of Credit Karma in connection with the acquisition with a grant date fair value of $300 million. See Note 7, “ Business Combinations .” (2) This includes approximately 583,000 RSUs granted to employees of Mailchimp in substitution of outstanding equity incentive awards with a grant date fair value of $355 million and approximately 325,000 RSUs granted to employees of Mailchimp in connection with the acquisition with a grant date fair value of $211 million. See Note 7, “ Business Combinations. ”
Additional information regarding RSUs	Additional information regarding our RSUs is shown in the table below. Twelve Months Ended July 31, (In millions) 2023 2022 2021 Total fair market value of shares vested $ 1,673 $ 1,658 $ 942 Share-based compensation for RSUs $ 1,636 $ 1,248 $ 708 Total tax benefit related to RSU share-based compensation expense $ 339 $ 375 $ 225 Cash tax benefits realized for tax deductions for RSUs $ 347 $ 334 $ 221
Stock option activity	A summary of stock option activity for the periods indicated was as follows: Options Outstanding (Shares in thousands) Number of Weighted Average Balance at July 31, 2020 2,681 $185.83 Granted 323 525.51 Exercised (718) 128.39 Canceled or expired (82) 264.53 Balance at July 31, 2021 2,204 251.48 Granted 400 448.59 Exercised (242) 164.94 Canceled or expired (70) 426.22 Balance at July 31, 2022 2,292 289.62 Granted 413 489.85 Exercised (551) 163.64 Canceled or expired (24) 368.72 Balance at July 31, 2023 2,130 $360.17
Stock options outstanding	Information regarding stock options outstanding as of July 31, 2023 is summarized below: Number Weighted- Weighted- Aggregate Options outstanding 2,130 4.26 $360.17 $327 Options exercisable 1,205 2.84 $278.28 $283
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) 2023 2022 2021 Weighted-average fair value of options granted (per share) $ 144.92 $ 136.76 $ 122.16 Total grant date fair value of options vested $ 33 $ 25 $ 17 Aggregate intrinsic value of options exercised $ 150 $ 78 $ 179 Share-based compensation expense for stock options and ESPP $ 76 $ 60 $ 45 Total tax benefit for stock option and ESPP share-based compensation $ 34 $ 21 $ 44 Cash received from option exercises $ 90 $ 40 $ 92 Cash tax benefits realized related to tax deductions for non-qualified option exercises and disqualifying dispositions under all share-based payment arrangements $ 31 $ 37 $ 48
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) 2023 2022 Unrealized loss on available-for-sale debt securities $ (7) $ (7) Foreign currency translation adjustments (48) (53) Total accumulated other comprehensive loss $ (55) $ (60)

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Jul. 31, 2023
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) 2023 2022 2021 Net revenue: Small Business & Self-Employed $ 8,038 $ 6,460 $ 4,688 Consumer 4,135 3,915 3,563 Credit Karma 1,634 1,805 865 ProTax 561 546 517 Total net revenue $ 14,368 $ 12,726 $ 9,633 Operating income: Small Business & Self-Employed $ 4,532 $ 3,499 $ 2,590 Consumer 2,707 2,483 2,237 Credit Karma 428 531 182 ProTax 395 383 372 Total segment operating income 8,062 6,896 5,381 Unallocated corporate items: Share-based compensation expense (1,712) (1,308) (753) Other corporate expenses (2,563) (2,461) (1,932) Amortization of acquired technology (163) (140) (50) Amortization of other acquired intangible assets (483) (416) (146) Total unallocated corporate items (4,921) (4,325) (2,881) Total operating income $ 3,141 $ 2,571 $ 2,500 Revenue classified by significant product and service offerings was as follows: Twelve Months Ended July 31, (In millions) 2023 2022 2021 Net revenue: QuickBooks Online Accounting $ 2,849 $ 2,267 $ 1,699 Online Services 2,910 2,171 1,051 Total Online Ecosystem 5,759 4,438 2,750 QuickBooks Desktop Accounting 1,110 851 789 Desktop Services and Supplies 1,169 1,171 1,149 Total Desktop Ecosystem 2,279 2,022 1,938 Small Business & Self-Employed 8,038 6,460 4,688 Consumer 4,135 3,915 3,563 Credit Karma 1,634 1,805 865 ProTax 561 546 517 Total net revenue $ 14,368 $ 12,726 $ 9,633

Description of Business and S_4

Description of Business and Summary of Significant Accounting Policies - Additional information (Details)	12 Months Ended
	Jul. 31, 2023 USD ($) vendor	Jul. 31, 2022 USD ($)	Jul. 31, 2021 USD ($)
Property, Plant and Equipment [Line Items]
Deferred revenue, revenue recognized	$ 808,000,000	$ 684,000,000
Revenue, performance obligation, description of timing	12 months
Deferred revenue	$ 5,000,000	6,000,000
Advertising expense	$ 1,500,000,000	1,600,000,000	$ 1,100,000,000
Business combination measurement period	1 year
Goodwill, impairment loss	$ 0	$ 0	$ 0
Acquired intangible assets, useful life	13 years	13 years
Cost of Goods and Service Benchmark | Supplier Concentration Risk
Property, Plant and Equipment [Line Items]
Number of vendors | vendor	1
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	2 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	15 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

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	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Numerator:
Net income	$ 2,384	$ 2,066	$ 2,062
Shares used in basic per share amounts:
Weighted-average common shares outstanding (in shares)	281	280	270
Shares used in diluted per share amounts:
Weighted-average common shares outstanding (in shares)	281	280	270
Dilutive common equivalent shares from stock options and restricted stock awards (in shares)	2	4	3
Dilutive weighted-average common shares outstanding (in shares)	283	284	273
Basic and diluted net income per share:
Basic net income per share (in dollars per share)	$ 8.49	$ 7.38	$ 7.65
Diluted net income per share (in dollars per share)	$ 8.42	$ 7.28	$ 7.56
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)	1	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, 2023	Jul. 31, 2022
Assets:
Cash equivalents, primarily money market funds	$ 2,848	$ 2,796
Liabilities:
Carrying value	6,120	6,914
Fair Value, Measurements, Recurring
Assets:
Cash equivalents, primarily money market funds	1,888	1,835
Available-for-sale debt securities:
Total available-for-sale debt securities	1,014	685
Total assets measured at fair value on a recurring basis	2,902	2,520
Fair Value, Measurements, Recurring | Corporate notes
Available-for-sale debt securities:
Total available-for-sale debt securities	805	589
Fair Value, Measurements, Recurring | U.S. agency securities
Available-for-sale debt securities:
Total available-for-sale debt securities	209	96
Fair Value, Measurements, Recurring | Level 1
Assets:
Cash equivalents, primarily money market funds	1,888	1,835
Available-for-sale debt securities:
Total available-for-sale debt securities	0	0
Total assets measured at fair value on a recurring basis	1,888	1,835
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 money market funds	0	0
Available-for-sale debt securities:
Total available-for-sale debt securities	1,014	685
Total assets measured at fair value on a recurring basis	1,014	685
Fair Value, Measurements, Recurring | Level 2 | Corporate notes
Available-for-sale debt securities:
Total available-for-sale debt securities	805	589
Fair Value, Measurements, Recurring | Level 2 | U.S. agency securities
Available-for-sale debt securities:
Total available-for-sale debt securities	209	96
Senior Unsecured Notes
Liabilities:
Carrying value	1,490	1,990
Senior Unsecured Notes | Fair Value, Measurements, Recurring
Liabilities:
Senior unsecured notes	1,309	1,838
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	$ 1,309	$ 1,838

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	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Cash equivalents:
Total cash and cash equivalents	$ 2,848	$ 2,796
Available-for-sale debt securities:
Long-term Investments	105	98
Level 3
Available-for-sale debt securities:
Upward adjustments to non-marketable equity securities	0	54	$ 17
Cumulative upward adjustments to non-marketable equity securities	71
Fair Value, Measurements, Recurring
Cash equivalents:
Total cash and cash equivalents	1,888	1,835
Available-for-sale debt securities:
Total available-for-sale debt securities	1,014	685
Fair Value, Measurements, Recurring | Level 1
Cash equivalents:
Total cash and cash equivalents	1,888	1,835
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	1,014	685
Fair Value, Measurements, Recurring | In cash and cash equivalents
Cash equivalents:
Total cash and cash equivalents	1,888	1,835
Fair Value, Measurements, Recurring | In cash and cash equivalents | Level 1
Cash equivalents:
Total cash and cash equivalents	1,888	1,835
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	814	485
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	814	485
Fair Value, Measurements, Recurring | In funds receivable and amounts held for customers
Available-for-sale debt securities:
Total available-for-sale debt securities	200	200
Fair Value, Measurements, Recurring | In funds receivable and amounts held for customers | Level 1
Available-for-sale debt securities:
Total available-for-sale debt securities	0	0
Fair Value, Measurements, Recurring | In funds receivable and amounts 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 Receivable and Amounts Held for Customers - Table of cash and cash equivalents, investments, and funds receivable and amounts held for customers by balance sheet classification (Details) - USD ($) $ in Millions	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021	Jul. 31, 2020
Amortized Cost
Cash and cash equivalents	$ 2,848	$ 2,796	$ 2,562
Investments	819	490
Funds receivable and amounts held for customers	424	435
Total cash and cash equivalents, investments, and funds receivable and amounts held for customers	4,091	3,721
Fair Value
Cash and cash equivalents	2,848	2,796
Investments	814	485
Funds receivable and amounts held for customers	420	431	$ 457	$ 455
Total cash and cash equivalents, investments, and funds receivable and amounts held for customers	$ 4,082	$ 3,712

Cash and Cash Equivalents, In_4

Cash and Cash Equivalents, Investments, and Funds Receivable and Amounts Held for Customers - Table of cash and cash equivalents, investments, and relevant portion of funds receivable and amounts held for customers by investment type (Details) - USD ($) $ in Millions	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021	Jul. 31, 2020
Amortized Cost
Total cash, cash equivalents, restricted cash, and restricted cash equivalents	$ 2,852	$ 2,997	$ 2,819	$ 6,697
Total available-for-sale debt securities	1,023	694
Total cash, cash equivalents, restricted cash, restricted cash equivalents, and investments	3,875	3,691
Fair Value
Total available-for-sale debt securities	1,014	685
Total cash, cash equivalents, restricted cash, restricted cash equivalents, and investments	3,866	3,682
Funds receivable and amounts held for customers not measured and recorded at fair value	216	30
Total cash, cash equivalents, restricted cash, and restricted cash equivalents
Amortized Cost
Total cash, cash equivalents, restricted cash, and restricted cash equivalents	2,852	2,997
Fair Value
Total cash, cash equivalents, restricted cash, and restricted cash equivalents	2,852	2,997
Corporate notes
Amortized Cost
Total available-for-sale debt securities	811	597
Fair Value
Total available-for-sale debt securities	805	589
U.S. agency securities
Amortized Cost
Total available-for-sale debt securities	212	97
Fair Value
Total available-for-sale debt securities	$ 209	$ 96

Cash and Cash Equivalents, In_5

Cash and Cash Equivalents, Investments, and Funds Receivable and Amounts Held for Customers - Table of available-for-sale debt securities classified by maturity date (Details) - USD ($) $ in Millions	Jul. 31, 2023	Jul. 31, 2022
Amortized Cost
Due within one year	$ 735	$ 316
Due within two years	147	298
Due within three years	141	79
Due after three years	0	1
Total available-for-sale debt securities	1,023	694
Fair Value
Due within one year	730	313
Due within two years	144	293
Due within three years	140	78
Due after three years	0	1
Total available-for-sale debt securities	$ 1,014	$ 685

Cash and Cash Equivalents, In_6

Cash and Cash Equivalents, Investments, and Funds Receivable and Amounts Held for Customers - Investments in funds receivable and amounts held for customers (Details) - USD ($) $ in Millions	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021	Jul. 31, 2020
Cash and Cash Equivalents, Investments, and Funds Receivable and Amounts Held for Customers [Abstract]
Restricted cash and restricted cash equivalents	$ 4	$ 201	$ 257	$ 255
Restricted available-for-sale debt securities and funds receivable	416	230	200	200
Total funds receivable and amounts held for customers	$ 420	$ 431	$ 457	$ 455

Notes Receivable and Allowanc_2

Notes Receivable and Allowances for Loan Losses (Details) - USD ($)	1 Months Ended
	Aug. 31, 2023	Jul. 31, 2023	Jul. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, net		$ 762,000,000	$ 540,000,000
Period past due considered delinquent		1 day
Commitment to Sell Participation Interest in Unsecured Term Loans Pursuant to a Forward Flow Agreement | Subsequent Event
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commitment to sell small business loans	$ 250,000,000
Term of commitment to sell	18 months
Small Business Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, net		$ 757,000,000
Refund Advance Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, net		$ 0

Property and Equipment - Schedu

Property and Equipment - Schedule of property and equipment (Details) - USD ($) $ in Millions	Jul. 31, 2023	Jul. 31, 2022
Property, Plant and Equipment [Line Items]
Equipment	$ 214	$ 208
Computer software	898	911
Furniture and fixtures	104	101
Leasehold improvements	404	366
Land	79	79
Buildings	382	378
Capital in progress	360	283
Total property plant and equipment, gross	2,441	2,326
Less accumulated depreciation and amortization	(1,472)	(1,438)
Total property and equipment, net	$ 969	$ 888
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, 2023	Jul. 31, 2022	Jul. 31, 2021
Property, Plant and Equipment [Abstract]
Capitalized software costs	$ 50	$ 72	$ 72
Capitalized labor costs	$ 0	$ 13	$ 30

Goodwill and Acquired Intangi_3

Goodwill and Acquired Intangible Assets - Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 13,736	$ 5,613
Goodwill Acquired/ Adjusted	41	8,132
Foreign Currency Translation	3	(9)
Goodwill, ending balance	13,780	13,736
Small Business & Self-Employed
Goodwill [Roll Forward]
Goodwill, beginning balance	9,689	1,578
Goodwill Acquired/ Adjusted	1	8,115
Foreign Currency Translation	1	(4)
Goodwill, ending balance	9,691	9,689
Goodwill net of accumulated impairment losses			$ 114
Consumer
Goodwill [Roll Forward]
Goodwill, beginning balance	51	42
Goodwill Acquired/ Adjusted	0	10
Foreign Currency Translation	0	(1)
Goodwill, ending balance	51	51
Credit Karma
Goodwill [Roll Forward]
Goodwill, beginning balance	3,899	3,898
Goodwill Acquired/ Adjusted	40	5
Foreign Currency Translation	2	(4)
Goodwill, ending balance	3,941	3,899
ProTax
Goodwill [Roll Forward]
Goodwill, beginning balance	97	95
Goodwill Acquired/ Adjusted	0	2
Foreign Currency Translation	0	0
Goodwill, ending balance	$ 97	$ 97

Goodwill and Acquired Intangi_4

Goodwill and Acquired Intangible Assets - Acquired intangible assets (Details) - USD ($) $ in Millions	Jul. 31, 2023	Jul. 31, 2022
Finite-Lived Intangible Assets [Abstract]
Cost	$ 8,535	$ 8,531
Accumulated amortization	(2,116)	(1,470)
Acquired intangible assets, net	$ 6,419	$ 7,061
Weighted-average life in years	13 years	13 years
Expected Future Amortization Expense
2024	$ 626
2025	624
2026	620
2027	594
2028	581
Thereafter	3,374
Total expected future amortization expense	6,419	$ 7,061
Customer Lists / User Relationships
Finite-Lived Intangible Assets [Abstract]
Cost	6,197	6,197
Accumulated amortization	(1,178)	(748)
Acquired intangible assets, net	$ 5,019	$ 5,449
Weighted-average life in years	14 years	14 years
Expected Future Amortization Expense
Total expected future amortization expense	$ 5,019	$ 5,449
Purchased Technology
Finite-Lived Intangible Assets [Abstract]
Cost	1,616	1,612
Accumulated amortization	(756)	(593)
Acquired intangible assets, net	$ 860	$ 1,019
Weighted-average life in years	8 years	8 years
Expected Future Amortization Expense
Total expected future amortization expense	$ 860	$ 1,019
Trade Names and Logos
Finite-Lived Intangible Assets [Abstract]
Cost	680	680
Accumulated amortization	(140)	(87)
Acquired intangible assets, net	$ 540	$ 593
Weighted-average life in years	13 years	13 years
Expected Future Amortization Expense
Total expected future amortization expense	$ 540	$ 593
Covenants Not to Compete or Sue
Finite-Lived Intangible Assets [Abstract]
Cost	42	42
Accumulated amortization	(42)	(42)
Acquired intangible assets, net	$ 0	$ 0
Weighted-average life in years	0 years	0 years
Expected Future Amortization Expense
Total expected future amortization expense	$ 0	$ 0

Business Combinations - Additio

Business Combinations - Additional information (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands			12 Months Ended
	Nov. 01, 2021	Dec. 03, 2020	Jul. 31, 2022	Jul. 31, 2021	Oct. 29, 2021	Dec. 02, 2020
The Rocket Science Group, LLC (Mailchimp)
Business Acquisition [Line Items]
Revenue attributable to Mailchip			$ 762,000
Acquisition costs			$ 63,000
Consideration transferred	$ 12,000,000
Payments to acquire businesses	$ 5,700,000
Business acquisition, equity interest issued (in shares)	10,100
Fair value of equity awards	$ 6,300,000
Share price (in dollars per share)					$ 625.99
Equity expensed	$ 151,000
Period of expense	4 years
Estimated useful life	12 years
Total purchase price allocation	$ 11,996,000
Credit Karma
Business Acquisition [Line Items]
Acquisition costs				$ 31,000
Consideration transferred		$ 8,100,000
Payments to acquire businesses		$ 3,400,000
Share price (in dollars per share)						$ 355.49
Estimated useful life		14 years 4 months 24 days
Total purchase price allocation		$ 7,195,000
Service period of equity awards assumed		3 years
Credit Karma | Common Stock
Business Acquisition [Line Items]
Business acquisition, equity interest issued (in shares)		10,600
Fair value of equity awards		$ 3,800,000
Restricted Stock Units (RSUs) | The Rocket Science Group, LLC (Mailchimp)
Business Acquisition [Line Items]
Business acquisition, equity interest issued (in shares)	325
Fair value of equity awards	$ 211,000
Stock units issued in substitution of outstanding equity incentive awards	583
Grant date fair value of equity awards	$ 355,000
Period of equity purchase agreement	3 years
Equity awards expensed, period two	$ 60,000
Period of expense, period two	6 months
Restricted Stock Units (RSUs) | Credit Karma
Business Acquisition [Line Items]
Fair value of equity awards				$ 300,000
Restricted Stock Units (RSUs) | Credit Karma | Empolyees of Credit Karma
Business Acquisition [Line Items]
Fair value of equity awards		$ 300,000
Service period of equity awards assumed		4 years
Equity Award | Credit Karma
Business Acquisition [Line Items]
Consideration transferred liabilities incurred, included in purchase price		$ (47,000)
Consideration transferred liabilities incurred, not included in purchase price		663,000
Revest Provision | Credit Karma
Business Acquisition [Line Items]
Fair value of equity awards		$ 275,000

Business Combinations - Schedul

Business Combinations - Schedule of preliminary allocation of purchase price (Details) - USD ($) $ in Millions	Jul. 31, 2023	Jul. 31, 2022	Nov. 01, 2021	Jul. 31, 2021	Dec. 03, 2020
Business Acquisition [Line Items]
Goodwill	$ 13,780	$ 13,736		$ 5,613
The Rocket Science Group, LLC (Mailchimp)
Business Acquisition [Line Items]
Cash and cash equivalents			$ 42
Investments			126
Accounts receivable, net			25
Income taxes receivable			1
Prepaid expenses and other current assets			24
Long-term investments			1
Property and equipment, net			15
Operating lease right-of-use assets			31
Goodwill			8,102
Intangible assets			4,340
Long-term deferred income tax assets			6
Other assets			1
Accounts payable			(163)
Accrued compensation and related liabilities			(409)
Deferred revenue			(52)
Other current liabilities			(69)
Long-term portion of operating lease liabilities			(20)
Other long-term obligations			(5)
Total purchase price allocation			$ 11,996
Credit Karma
Business Acquisition [Line Items]
Cash and cash equivalents					$ 436
Accounts receivable, net					141
Income taxes receivable					59
Prepaid expenses and other current assets					7
Long-term investments					3
Property and equipment, net					63
Operating lease right-of-use assets					167
Goodwill					3,898
Intangible assets					3,372
Other assets					81
Accounts payable					(86)
Accrued compensation and related liabilities					(113)
Other current liabilities					(24)
Operating lease liabilities					(172)
Long-term deferred income tax liabilities					(627)
Other long-term obligations					(10)
Total purchase price allocation					$ 7,195

Business Combinations - Intangi

Business Combinations - Intangible assets (Details) - USD ($) $ in Millions	Nov. 01, 2021	Dec. 03, 2020
The Rocket Science Group, LLC (Mailchimp)
Business Acquisition [Line Items]
Estimated Useful Life	12 years
Amount	$ 4,340
The Rocket Science Group, LLC (Mailchimp) | Customer Lists / User Relationships
Business Acquisition [Line Items]
Estimated Useful Life	13 years
Amount	$ 3,160
The Rocket Science Group, LLC (Mailchimp) | Purchased technology
Business Acquisition [Line Items]
Estimated Useful Life	9 years
Amount	$ 900
The Rocket Science Group, LLC (Mailchimp) | Trade names/Trademarks
Business Acquisition [Line Items]
Estimated Useful Life	10 years
Amount	$ 280
Credit Karma
Business Acquisition [Line Items]
Estimated Useful Life		14 years 4 months 24 days
Amount		$ 3,372
Credit Karma | User relationships
Business Acquisition [Line Items]
Estimated Useful Life		15 years
Amount		$ 2,781
Credit Karma | Purchased technology
Business Acquisition [Line Items]
Estimated Useful Life		6 years
Amount		$ 216
Credit Karma | Trade names/Trademarks
Business Acquisition [Line Items]
Estimated Useful Life		15 years
Amount		$ 375

Business Combinations - Long-te

Business Combinations - Long-term deferred income tax assets and liabilities (Details) - USD ($) $ in Millions	Jul. 31, 2023	Jul. 31, 2022	Dec. 03, 2020
Business Acquisition [Line Items]
Intangibles	$ (840)	$ (868)
Federal research and experimentation credit carryforwards	667	0
Other, net	27	23
Total net long-term deferred income tax liabilities	$ (4)	$ (619)
Credit Karma
Business Acquisition [Line Items]
Intangibles			$ (851)
Federal and state net operating loss carryforwards			138
Federal research and experimentation credit carryforwards			51
Other, net			35
Total net long-term deferred income tax liabilities			$ (627)

Debt - Summary of senior unsecu

Debt - Summary of senior unsecured debt (Details) - USD ($) $ in Millions	Jul. 31, 2023	Jul. 31, 2022
Total principal balance of debt
Total principal balance of debt	$ 6,130	$ 6,930
Unamortized discount and debt issuance costs	(10)	(16)
Net carrying value of debt	6,120	6,914
Short-term debt	0	499
Long-term debt	6,120	6,415
Term loan
Total principal balance of debt
Total principal balance of debt	4,200	4,700
Senior Unsecured Notes | 0.650% notes due July 2023
Total principal balance of debt
Total principal balance of debt	$ 0	500
Stated interest rate (in percent)	0.65%
Effective interest rate (in percent)	0.837%
Senior Unsecured Notes | 0.950% notes due July 2025
Total principal balance of debt
Total principal balance of debt	$ 500	500
Stated interest rate (in percent)	0.95%
Effective interest rate (in percent)	1.127%
Senior Unsecured Notes | 1.350% notes due July 2027
Total principal balance of debt
Total principal balance of debt	$ 500	500
Stated interest rate (in percent)	1.35%
Effective interest rate (in percent)	1.486%
Senior Unsecured Notes | 1.650% notes due July 2030
Total principal balance of debt
Total principal balance of debt	$ 500	500
Stated interest rate (in percent)	1.65%
Effective interest rate (in percent)	1.767%
Line of Credit | Revolving Credit Facility | Subsidiary
Total principal balance of debt
Secured revolving credit facilities	$ 430	$ 230

Debt - Future principal payment

Debt - Future principal payments (Details) - USD ($) $ in Millions	Jul. 31, 2023	Jul. 31, 2022
Debt Disclosure [Abstract]
2024	$ 0
2025	4,700
2026	430
2027	500
2028	0
Thereafter	500
Total future principal payments for debt	$ 6,130	$ 6,930

Debt - Narrative (Details)

Debt - Narrative (Details)				1 Months Ended		3 Months Ended	12 Months Ended
	Oct. 12, 2022 USD ($)	Jul. 18, 2022 USD ($)	Nov. 01, 2021 USD ($) extension	Jun. 30, 2021 series	Jun. 30, 2020 USD ($)	Jul. 31, 2023 USD ($)	Jul. 31, 2023 USD ($)	Jul. 31, 2022 USD ($)	Jul. 31, 2021 USD ($)
Total principal balance of debt
Number of unsecured note series | series				4
Interest paid							$ 272,000,000	$ 67,000,000	$ 30,000,000
Amount outstanding on loan						$ 6,120,000,000	6,120,000,000	6,914,000,000
Fair value of amount outstanding						0	0
Line of Credit | Revolving Credit Facility
Total principal balance of debt
Interest paid							0	0	1,000,000
Line of Credit | Revolving Credit Facility | Subsidiary
Total principal balance of debt
Amount outstanding under credit facility						430,000,000	430,000,000	230,000,000
Unsecured Debt
Total principal balance of debt
Aggregate principal amount			$ 5,700,000,000
Unsecured Debt | The Rocket Science Group, LLC (Mailchimp)
Total principal balance of debt
Amount outstanding on loan						4,200,000,000	4,200,000,000
The Notes | Senior Unsecured Notes
Total principal balance of debt
Proceeds from issuance of long-term debt					$ 1,980,000,000
Debt discount					2,000,000
Debt issuance costs					$ 15,000,000
Repayment of loans						500,000,000
Interest paid							23,000,000	23,000,000	24,000,000
Repurchase price (in percent)					101%
Amendment to Master Credit Agreement | Term loan
Total principal balance of debt
Interest paid							230,000,000	42,000,000	2,000,000
Amendment to Master Credit Agreement | Line of Credit
Total principal balance of debt
Debt instrument, covenant, debt to EBITDA ratio, maximum			3.25
Debt instrument, covenant, EBITDA to annual interest expense ratio, minimum			3
Amendment to Master Credit Agreement | Line of Credit | Revolving Credit Facility
Total principal balance of debt
Revolving credit facility, increase limit			$ 250,000,000
Debt instrument, maturity date extension | extension			2
Amendment to Master Credit Agreement | Line of Credit | Revolving Credit Facility | Base Rate | Minimum
Total principal balance of debt
Basis spread on variable rate			0%
Amendment to Master Credit Agreement | Line of Credit | Revolving Credit Facility | Base Rate | Maximum
Total principal balance of debt
Basis spread on variable rate			0.10%
Amendment to Master Credit Agreement | Line of Credit | Revolving Credit Facility | SOFR | Minimum
Total principal balance of debt
Basis spread on variable rate			1.10%
Amendment to Master Credit Agreement | Line of Credit | Revolving Credit Facility | SOFR | Maximum
Total principal balance of debt
Basis spread on variable rate			0.69%
Revolving Credit Facility Due 2026 | Unsecured Debt
Total principal balance of debt
Aggregate principal amount			$ 1,000,000,000
Revolving Credit Facility Due 2026 | Revolving Credit Facility
Total principal balance of debt
Option to increase credit amount			$ 400,000,000
Unsecured Term Loan Due 2024 | Base Rate | Minimum
Total principal balance of debt
Basis spread on variable rate			0%
Unsecured Term Loan Due 2024 | Base Rate | Maximum
Total principal balance of debt
Basis spread on variable rate			0.125%
Unsecured Term Loan Due 2024 | SOFR | Minimum
Total principal balance of debt
Basis spread on variable rate			0.625%
Unsecured Term Loan Due 2024 | SOFR | Maximum
Total principal balance of debt
Basis spread on variable rate			1.125%
Unsecured Term Loan Due 2024 | Unsecured Debt
Total principal balance of debt
Aggregate principal amount			$ 4,700,000,000
Secured Revolving Credit Facility, 2019 | Revolving Credit Facility
Total principal balance of debt
Interest paid							16,000,000	$ 2,000,000	$ 3,000,000
Secured Revolving Credit Facility, 2019 | Line of Credit | Revolving Credit Facility | Subsidiary
Total principal balance of debt
Revolving credit facility		$ 500,000,000
Committed portion of revolving credit facility		300,000,000
Uncommitted portion of revolving credit facility		$ 200,000,000
Amount outstanding under credit facility						$ 300,000,000	$ 300,000,000
Weighted-average interest rate						6.91%	6.91%
Amounts secured on outstanding balance						$ 912,000,000	$ 912,000,000
Secured Revolving Credit Facility, 2019 | Line of Credit | Revolving Credit Facility | Subsidiary | Minimum
Total principal balance of debt
Interest accrual, unused portion		0.25%
Secured Revolving Credit Facility, 2019 | Line of Credit | Revolving Credit Facility | Subsidiary | Maximum
Total principal balance of debt
Interest accrual, unused portion		0.75%
Secured Revolving Credit Facility, 2019 | Line of Credit | Revolving Credit Facility | SOFR | Subsidiary
Total principal balance of debt
Basis spread on variable rate		1.50%
Secured Revolving Credit Facility, 2022 | Line of Credit | Revolving Credit Facility | Subsidiary
Total principal balance of debt
Interest paid							4,000,000
Revolving credit facility	$ 500,000,000
Committed portion of revolving credit facility	150,000,000
Uncommitted portion of revolving credit facility	$ 350,000,000
Amount outstanding under credit facility						$ 130,000,000	$ 130,000,000
Weighted-average interest rate						6.64%	6.64%
Secured Revolving Credit Facility, 2022 | Line of Credit | Revolving Credit Facility | Subsidiary | Asset Pledged as Collateral
Total principal balance of debt
Amounts secured on outstanding balance						$ 375,000,000	$ 375,000,000
Secured Revolving Credit Facility, 2022 | Line of Credit | Revolving Credit Facility | Subsidiary | Minimum
Total principal balance of debt
Interest accrual, unused portion	0.20%
Secured Revolving Credit Facility, 2022 | Line of Credit | Revolving Credit Facility | Subsidiary | Maximum
Total principal balance of debt
Interest accrual, unused portion	0.40%
Secured Revolving Credit Facility, 2022 | Line of Credit | Revolving Credit Facility | SOFR | Subsidiary
Total principal balance of debt
Basis spread on variable rate	1.30%

Other Liabilities and Commitm_3

Other Liabilities and Commitments - Other current liabilities (Details) - USD ($) $ in Millions	Jul. 31, 2023	Jul. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Executive deferred compensation plan liabilities	$ 171	$ 147
Current portion of operating lease liabilities	89	84
Sales, property, and other taxes	45	40
Reserve for returns, credits, and promotional discounts	32	31
Accrued settlement for state attorneys general	0	141
Other	111	128
Total other current liabilities	$ 448	$ 571

Other Liabilities and Commitm_4

Other Liabilities and Commitments - Other long-term obligations (Details) - USD ($) $ in Millions	Jul. 31, 2023	Jul. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Income tax liabilities	$ 76	$ 44
Dividend payable	16	12
Deferred revenue	5	6
Other	20	25
Total other long-term obligations	$ 117	$ 87

Other Liabilities and Commitm_5

Other Liabilities and Commitments - Annual minimum commitments under purchase obligations (Details) $ in Millions	Jul. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2024	$ 596
2025	574
2026	313
2027	68
2028	55
Thereafter	440
Total commitments	$ 2,046

Leases - Narrative (Details)

Leases - Narrative (Details)	12 Months Ended
	Jul. 31, 2023 option_to_extend
Lessee, Lease, Description [Line Items]
Operating lease terms	19 years
Number of options to extend	1
Option to extend operating leases	10 years
Operating sublease terms	7 years
Minimum
Lessee, Lease, Description [Line Items]
Number of sublease renewal options	1
Maximum
Lessee, Lease, Description [Line Items]
Term of sublease renewal options (up to)	5 years

Leases - Lease cost (Details)

Leases - Lease cost (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Leases [Abstract]
Operating lease cost	$ 124	$ 105	$ 75
Variable lease cost	20	15	11
Sublease income	(12)	(17)	(16)
Total net lease cost	$ 132	$ 103	$ 70

Leases - Supplemental cash flow

Leases - Supplemental cash flows (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 107	$ 104	$ 76
Right-of-use assets obtained in exchange for operating lease liabilities	$ 28	$ 238	$ 60

Leases - Other lease informatio

Leases - Other lease information (Details)	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Leases [Abstract]
Weighted-average remaining lease term for operating leases	7 years 10 months 24 days	8 years 1 month 6 days	6 years 9 months 18 days
Weighted-average discount rate for operating leases	3%	2.90%	2.30%

Leases - Schedule of future pay

Leases - Schedule of future payments (Details) - USD ($) $ in Millions	Jul. 31, 2023	Jul. 31, 2022
Operating Lease Maturity
2024	$ 76
2025	95
2026	78
2027	70
2028	60
Thereafter	281
Total future minimum lease payments	660
Less imputed interest	(91)
Present value of lease liabilities	569	$ 626
Sublease Income Maturity
2024	11
2025	6
2026	1
2027	1
2028	1
Thereafter	$ 2

Leases - Supplemental balance s

Leases - Supplemental balance sheet (Details) - USD ($) $ in Millions	Jul. 31, 2023	Jul. 31, 2022
Leases [Abstract]
Operating lease right-of-use assets	$ 469	$ 549
Other current liabilities	89	84
Operating lease liabilities	480	542
Total operating lease liabilities	$ 569	$ 626
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other Liabilities, Current	Other Liabilities, Current

Income Taxes - Provision for in

Income Taxes - Provision for income taxes from continuing operations (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Current:
Federal	$ 970	$ 253	$ 399
State	208	93	121
Foreign	86	31	17
Total current	1,264	377	537
Deferred:
Federal	(559)	85	(33)
State	(99)	18	(11)
Foreign	(1)	(4)	1
Total deferred	(659)	99	(43)
Total provision for income taxes	$ 605	$ 476	$ 494

Income Taxes - Additional infor

Income Taxes - Additional information (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021	Jul. 31, 2020
Operating Loss Carryforwards [Line Items]
Excess tax expense (benefits) related to stock-based compensation	$ (32)	$ (134)	$ (126)
Tax benefit realized on transfer of certain intangible assets	32
Valuation allowance	235	244
(Decrease) Increase in valuation allowance	9	(39)
Unrecognized tax benefits	246	216	190	$ 101
Favorable net impact to income tax expense due to recognition of tax benefits	152
Long term income tax receivable	85	89
Domestic Country
Operating Loss Carryforwards [Line Items]
Excess tax expense (benefits) related to stock-based compensation	(26)	(112)	(105)
Operating loss carryforwards	52
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Excess tax expense (benefits) related to stock-based compensation	6	$ 22	$ 21
Valuation allowance	5
Operating loss carryforwards	150
Deferred tax asset net operating loss carryforward	10
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	96
Research Tax Credit Carryforward | State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Deferred tax assets, tax credit carryforwards	$ 343

Income Taxes - Sources of incom

Income Taxes - Sources of income from continuing operations (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Income Tax Disclosure [Abstract]
United States	$ 2,798	$ 2,433	$ 2,497
Foreign	191	109	59
Income before income taxes	$ 2,989	$ 2,542	$ 2,556

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	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Operating Loss Carryforwards [Line Items]
Income before income taxes	$ 2,989	$ 2,542	$ 2,556
Statutory federal income tax	628	534	537
State income tax, net of federal benefit	86	87	87
Federal research and experimentation credits	(106)	(94)	(70)
Share-based compensation	58	45	32
Excess tax benefits related to share-based compensation	(32)	(134)	(126)
Effects of non-U.S. operations	(28)	4	4
Other, net	(7)	12	9
Total provision for income taxes	$ 605	$ 476	$ 494

Income Taxes - Components of de

Income Taxes - Components of deferred tax assets and liabilities (Details) - USD ($) $ in Millions	Jul. 31, 2023	Jul. 31, 2022
Deferred tax assets:
Accruals and reserves not currently deductible	$ 31	$ 84
Federal research and experimentation credit carryforwards	667	0
Operating lease liabilities	153	168
Accrued and deferred compensation	90	84
Loss and tax credit carryforwards	256	224
Intangible assets	0	25
Share-based compensation	94	97
Other, net	27	23
Total gross deferred tax assets	1,318	705
Valuation allowance	(235)	(244)
Total deferred tax assets	1,083	461
Deferred tax liabilities:
Operating lease right-of-use assets	128	149
Intangibles	840	868
Property and equipment	8	9
Other, net	47	43
Total deferred tax liabilities	1,023	1,069
Net deferred tax liabilities		(608)
Deferred Tax Assets, Net [Abstract]
Long-term deferred income tax assets	64	11
Long-term deferred income tax liabilities	(4)	$ (619)
Net deferred tax assets	$ 60

Income Taxes - Unrecognized tax

Income Taxes - Unrecognized tax benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Gross unrecognized tax benefits, beginning balance	$ 216	$ 190	$ 101
Increases related to tax positions from prior fiscal years, including acquisitions	11	9	69
Decreases related to tax positions from prior fiscal years	(16)	(13)	0
Increases related to tax positions taken during current fiscal year	38	31	31
Settlements with tax authorities	(2)	0	0
Lapse of statute of limitations	(1)	(1)	(11)
Gross unrecognized tax benefits, ending balance	$ 246	$ 216	$ 190

Stockholders' Equity - Addition

Stockholders' Equity - Additional information (Details) $ / shares in Units, $ in Millions		6 Months Ended	12 Months Ended
	Jan. 20, 2022 shares	Jul. 31, 2022 shares	Jul. 31, 2023 USD ($) period $ / shares shares	Jul. 31, 2022 USD ($) shares	Jul. 31, 2021 USD ($) shares	Aug. 31, 2023 $ / shares	Aug. 23, 2023 USD ($)	Dec. 03, 2020 shares	Jul. 31, 2020 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchased during period (in shares) | $			$ 1,967	$ 1,854	$ 1,022
Stock repurchased and settled after period (in shares) | $			$ 10
Common stock dividends, cash paid (in dollars per share) | $ / shares			$ 3.12
Common stock dividends | $			$ (898)
Common stock, shares authorized (in shares)		750,000,000	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	2.3
Shares available for grant (in shares)		26,260,000	19,026,000	26,260,000	16,851,000				18,047,000
Stock offering period, months, employee stock purchase plans			6 months
Stock accrual period, employee stock purchase plans, number of accrual periods | period			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%
Shares issued during period for Employee Stock Purchase Plans (in shares)			399,975	326,961	405,268
Shares available for issuance under Employee Stock Purchase Plan (in shares)			2,323,980
Market price of common stock (in dollars per share) | $ / shares			$ 511.70
Computer software
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense | $			$ 0	$ 1	$ 2
Credit Karma
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for future issuance under assumed plan (in shares)								3,366,512
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of years until options vest			7 years
Shares available for grant (in shares)			19,000,000
Unrecognized compensation cost | $			$ 123
Weighted-average vesting period			3 years 2 months 12 days
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)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of total share-based compensation expense			85%
Unrecognized compensation cost | $			$ 4,800
Weighted-average vesting period			3 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)			25,800,000
Restated 2005 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares authorized (in shares)			159,500,000
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
Credit Karma Plan | Restricted Stock Units (RSUs)
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]
Stock repurchase program, additional authorized amount (in shares) | $							$ 2,300
Dividend per share payable (in dollars per share) | $ / shares						$ 0.90
Current Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program remaining authorized repurchase amount | $			$ 1,500
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchases under stock repurchase programs (in shares)			4,700,000	3,754,000	2,422,000

Stockholders' Equity - Share-ba

Stockholders' Equity - Share-based compensation expense (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 1,712	$ 1,308	$ 753
Income tax benefit	(373)	(396)	(269)
Decrease in net income	$ 1,339	$ 912	$ 484
Share Based Compensation Expense
Decrease in net income per share:
Basic (in dollars per share)	$ 4.77	$ 3.26	$ 1.79
Diluted (in dollars per share)	$ 4.73	$ 3.21	$ 1.77
Total share-based compensation expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 1,712	$ 1,308	$ 753
Cost of product revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	3	2	1
Cost of service and other revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	371	144	68
Selling and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	429	309	183
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	532	521	281
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 377	$ 332	$ 220

Stockholders' Equity - Determin

Stockholders' Equity - Determining fair value (Details)	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility (range)		35%	29%
Weighted-average expected volatility	30.67%	35%	29%
Risk-free interest rate (range)		2.73%	0.62%
Expected dividend yield	0.63%	0.61%	0.45%
Employee Stock Option | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility (range)	30.41%
Risk-free interest rate (range)	3.52%
Employee Stock Option | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility (range)	33.19%
Risk-free interest rate (range)	4.46%
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average expected volatility	42%	23%	34%
Employee Stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility (range)	38%	26%	31%
Risk-free interest rate (range)	1.59%	0.04%	0.02%
Expected dividend yield	0.74%	0.47%	0.60%
Employee Stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility (range)	48%	39%	36%
Risk-free interest rate (range)	4.74%	0.44%	0.17%
Expected dividend yield	0.81%	0.59%	0.75%

Stockholders' Equity - Share-_2

Stockholders' Equity - Share-based awards available for grant (Details) - shares		6 Months Ended	12 Months Ended
	Jan. 20, 2022	Jul. 31, 2022	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Shares available for grant, beginning balance (in shares)			26,260,000	16,851,000	18,047,000
Shares available for grant under an assumed plan (in shares)					4,298,000
Additional shares authorized (in shares)				19,903,000
Restricted stock units granted (in shares)			(12,098,000)	(14,868,000)	(9,191,000)
Options granted (in shares)			(413,000)	(400,000)	(323,000)
Share-based awards canceled/forfeited/expired (in shares)			5,277,000	4,774,000	4,020,000
Shares available for grant, ending balance (in shares)		26,260,000	19,026,000	26,260,000	16,851,000
Pool shares reduced for each share granted (in shares)			2.3
Pool shares increased for each share forfeited (in shares)		2.3	2.3
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Shares available for grant, ending balance (in shares)			19,000,000
Stock Options | Restated 2005 Plan
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Pool shares reduced for each share granted (in shares)			1
Number of shares added back to plan when grants are forfeited (in shares)			1
Restricted Stock Units (RSUs) | Credit Karma Plan
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Pool shares reduced for each share granted (in shares)	1
Number of shares added back to plan when grants are forfeited (in shares)	1

Stockholders' Equity - Restrict

Stockholders' Equity - Restricted stock unit activity and related share-based compensation expense (Details) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
	Nov. 01, 2021	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Number of Shares
Nonvested, number of shares, beginning balance (in shares)		11,467,000	9,038,000	5,664,000
Assumed through acquisition (in shares)				1,998,000
Granted (in shares)		5,260,000	6,634,000	3,877,000
Restricted stock subject to revest provisions issued in connection with acquisition (in shares)				775,000
Vested (in shares)		(4,019,000)	(3,154,000)	(2,242,000)
Forfeited (in shares)		(814,000)	(1,051,000)	(1,034,000)
Nonvested, number of shares, ending balance (in shares)		11,894,000	11,467,000	9,038,000
Weighted Average Grant Date Fair Value
Nonvested, weighted average grant date fair value per share, beginning balance (in dollars per share)		$ 413.32	$ 345.86	$ 231.97
Assumed through acquisition (in dollars per share)				355.49
Granted (in dollars per share)		452.45	466.12	431.82
Restricted stock subject to revest provisions issued in connection with acquisition (in dollars per share)				355.49
Vested (in dollars per share)		414.12	351.80	262.23
Forfeited (in dollars per share)		364.45	351.15	251.41
Nonvested, weighted average grant date fair value per share, ending balance (in dollars per share)		$ 433.70	$ 413.32	$ 345.86
Total tax benefit related to RSU share-based compensation expense		$ 373	$ 396	$ 269
The Rocket Science Group, LLC (Mailchimp)
Weighted Average Grant Date Fair Value
Fair value of equity awards	$ 6,300
Business acquisition, equity interest issued (in shares)	10,100,000
Restricted Stock Units (RSUs)
Weighted Average Grant Date Fair Value
Total fair market value of shares vested		1,673	1,658	942
Share-based compensation for RSUs		1,636	1,248	708
Total tax benefit related to RSU share-based compensation expense		339	375	225
Cash tax benefits realized for tax deductions for RSUs		$ 347	$ 334	$ 221
Restricted Stock Units (RSUs) | Credit Karma
Number of Shares
Granted (in shares)				809,000
Weighted Average Grant Date Fair Value
Fair value of equity awards				$ 300
Restricted Stock Units (RSUs) | The Rocket Science Group, LLC (Mailchimp)
Weighted Average Grant Date Fair Value
Fair value of equity awards	$ 211
Stock units issued in substitution of outstanding equity incentive awards	583,000
Grant date fair value of equity awards	$ 355
Business acquisition, equity interest issued (in shares)	325,000

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, 2023	Jul. 31, 2022	Jul. 31, 2021
Summary of stock option activity, number of shares
Number of shares, beginning balance (in shares)	2,292	2,204	2,681
Granted (in shares)	413	400	323
Exercised (in shares)	(551)	(242)	(718)
Canceled or expired (in shares)	(24)	(70)	(82)
Number of shares, ending balance (in shares)	2,130	2,292	2,204
Weighted Average Exercise Price Per Share
Weighted-average exercise price per share, Beginning Balance (in dollars per share)	$ 289.62	$ 251.48	$ 185.83
Granted (in dollars per share)	489.85	448.59	525.51
Exercised (in dollars per share)	163.64	164.94	128.39
Canceled or expired (in dollars per share)	368.72	426.22	264.53
Weighted-average exercise price per share, Ending Balance (in dollars per share)	$ 360.17	$ 289.62	$ 251.48
Stock Options Outstanding
Number of shares (in thousands), options outstanding (in shares)	2,130	2,292	2,204
Weighted average remaining contractual life (in years), options outstanding	4 years 3 months 3 days
Weighted-average exercise price per share, options outstanding (in dollars per share)	$ 360.17	$ 289.62	$ 251.48
Aggregate intrinsic value (in millions), options outstanding	$ 327
Number of shares (in thousands), options exercisable (in shares)	1,205
Weighted-average remaining contractual life (in years) options exercisable	2 years 10 months 2 days
Weighted-average exercise price per share, options exercisable (in dollars per share)	$ 278.28
Aggregate intrinsic value (in millions), options exercisable	$ 283
Additional information on stock options and ESPP shares
Weighted-average fair value of options granted (in dollars per share)	$ 144.92	$ 136.76	$ 122.16
Total grant date fair value of options vested	$ 33	$ 25	$ 17
Aggregate intrinsic value of options exercised	150	78	179
Total tax benefit for stock option and ESPP share-based compensation	373	396	269
Cash received from option exercises	90	40	92
Cash tax benefits realized related to tax deductions for non-qualified option exercises and disqualifying dispositions under all share-based payment arrangements	31	37	48
Stock Options and ESPP
Additional information on stock options and ESPP shares
Share-based compensation expense for stock options and ESPP	76	60	45
Total tax benefit for stock option and ESPP share-based compensation	$ 34	$ 21	$ 44

Stockholders' Equity - Accumula

Stockholders' Equity - Accumulated other comprehensive loss (Details) - USD ($) $ in Millions	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021	Jul. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders’ equity	$ 17,269	$ 16,441	$ 9,869	$ 5,106
Unrealized loss on available-for-sale debt securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders’ equity	(7)	(7)
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders’ equity	(48)	(53)
Total accumulated other comprehensive loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders’ equity	$ (55)	$ (60)	$ (24)	$ (32)

Benefit Plans (Details)

Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Defined Contribution Plan Disclosure [Line Items]
Maximum percent of salary and bonus eligible for executive deferred compensation plan	75%
Executive deferred compensation plan liabilities	$ 171	$ 147
Defined contribution plan, cost	$ 136	$ 118	$ 80
Credit Karma 401 (k) Plan
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, maximum annual contributions per employee, percent	90%
Defined contribution plan, employer matching contribution, percent of match	100%
Intuit Inc. 401(k) Plan
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, maximum annual contributions per employee, percent	50%
Defined contribution plan, employer matching contribution, percent of match	125%
Defined contribution plan, employer matching contribution, percent of employees' gross pay	6%
Credit Karma
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, employer matching contribution, percent of employees' gross pay	6%

Legal Proceedings (Details)

Legal Proceedings (Details) $ in Millions	May 04, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Litigation settlement	$ 141

Segment Information - Narrative

Segment Information - Narrative (Details) - segment	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Segment Reporting Information [Line Items]
Number of reportable segments	4
Revenue Benchmark | International | Geographic Concentration Risk
Segment Reporting Information [Line Items]
Total International net revenue as a percentage	8%	8%	5%

Segment Information - Results b

Segment Information - Results by segment (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Net revenue:
Total net revenue	$ 14,368	$ 12,726	$ 9,633
Operating income:
Total segment operating income	3,141	2,571	2,500
Unallocated corporate items:
Amortization of acquired technology	(163)	(140)	(50)
Amortization of other acquired intangible assets	(483)	(416)	(146)
Total Online Ecosystem
Net revenue:
Total net revenue	5,759	4,438	2,750
QuickBooks Online Accounting
Net revenue:
Total net revenue	2,849	2,267	1,699
Online Services
Net revenue:
Total net revenue	2,910	2,171	1,051
Total Desktop Ecosystem
Net revenue:
Total net revenue	2,279	2,022	1,938
QuickBooks Desktop Accounting
Net revenue:
Total net revenue	1,110	851	789
Desktop Services and Supplies
Net revenue:
Total net revenue	1,169	1,171	1,149
Small Business & Self-Employed
Net revenue:
Total net revenue	8,038	6,460	4,688
Consumer
Net revenue:
Total net revenue	4,135	3,915	3,563
Credit Karma
Net revenue:
Total net revenue	1,634	1,805	865
ProTax
Net revenue:
Total net revenue	561	546	517
Operating Segments
Operating income:
Total segment operating income	8,062	6,896	5,381
Operating Segments | Small Business & Self-Employed
Operating income:
Total segment operating income	4,532	3,499	2,590
Operating Segments | Consumer
Operating income:
Total segment operating income	2,707	2,483	2,237
Operating Segments | Credit Karma
Operating income:
Total segment operating income	428	531	182
Operating Segments | ProTax
Operating income:
Total segment operating income	395	383	372
Segment Reconciling Items
Unallocated corporate items:
Share-based compensation expense	(1,712)	(1,308)	(753)
Other corporate expenses	(2,563)	(2,461)	(1,932)
Amortization of acquired technology	(163)	(140)	(50)
Amortization of other acquired intangible assets	(483)	(416)	(146)
Total unallocated corporate items	$ (4,921)	$ (4,325)	$ (2,881)

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Allowance for doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation and qualifying accounts, beginning balance	$ 31	$ 96	$ 12
Additions Charged to Expense/ Revenue	57	74	92
Deductions	(81)	(139)	(8)
Valuation and qualifying accounts, ending balance	7	31	96
Reserve for returns, credits, and promotional discounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation and qualifying accounts, beginning balance	31	31	35
Additions Charged to Expense/ Revenue	261	247	230
Deductions	(260)	(247)	(234)
Valuation and qualifying accounts, ending balance	$ 32	$ 31	$ 31