Intuit (INTU) 10-Q 21 Nov 24 2025 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares shares in Thousands	3 Months Ended
	Oct. 31, 2024	Nov. 14, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 31, 2024
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		280,035
Entity Central Index Key	0000896878
Amendment Flag	false
Current Fiscal Year End Date	--07-31
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Net revenue:
Total net revenue	$ 3,283	$ 2,978
Cost of revenue:
Amortization of acquired technology	37	38
Selling and marketing	962	769
Research and development	704	680
General and administrative	394	342
Amortization of other acquired intangible assets	120	120
Restructuring	9	0
Total costs and expenses	3,012	2,671
Operating income	271	307
Interest expense	(60)	(65)
Interest and other income, net	2	22
Income before income taxes	213	264
Income tax provision	16	23
Net income	$ 197	$ 241
Earnings Per Share, Basic
Basic net income per share (in dollars per share)	$ 0.70	$ 0.86
Shares used in basic per share calculations (in shares)	280	280
Earnings Per Share, Diluted
Diluted net income per share (in dollars per share)	$ 0.70	$ 0.85
Shares used in diluted per share calculations (in shares)	283	283
Service
Net revenue:
Total net revenue	$ 2,889	$ 2,450
Cost of revenue:
Cost of revenue	772	707
Product and other
Net revenue:
Total net revenue	394	528
Cost of revenue:
Cost of revenue	$ 14	$ 15

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 197	$ 241
Other comprehensive income (loss), net of income taxes:
Unrealized gain on available-for-sale debt securities	0	1
Foreign currency translation loss	0	(24)
Total other comprehensive loss, net	0	(23)
Comprehensive income	$ 197	$ 218

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Oct. 31, 2024	Jul. 31, 2024
Current assets:
Cash and cash equivalents	$ 2,872	$ 3,609
Investments	486	465
Accounts receivable, net	426	457
Notes receivable held for investment, net	892	779
Notes receivable held for sale	10	3
Income taxes receivable	27	78
Prepaid expenses and other current assets	407	366
Current assets before funds receivable and amounts held for customers	5,120	5,757
Funds receivable and amounts held for customers	5,606	3,921
Total current assets	10,726	9,678
Long-term investments	90	131
Property and equipment, net	1,008	1,009
Operating lease right-of-use assets	538	411
Goodwill	13,844	13,844
Acquired intangible assets, net	5,662	5,820
Long-term deferred income tax assets	798	698
Other assets	527	541
Total assets	33,193	32,132
Current liabilities:
Short-term debt	499	499
Accounts payable	652	721
Accrued compensation and related liabilities	413	921
Deferred revenue	892	872
Income taxes payable	21	8
Other current liabilities	536	549
Current liabilities before funds payable and amounts due to customers	3,013	3,570
Funds payable and amounts due to customers	5,606	3,921
Total current liabilities	8,619	7,491
Long-term debt	5,625	5,539
Operating lease liabilities	592	458
Other long-term obligations	221	208
Total liabilities	15,057	13,696
Commitments and contingencies
Stockholders’ equity:
Preferred stock	0	0
Common stock and additional paid-in capital	20,619	20,251
Treasury stock, at cost	(19,320)	(18,750)
Accumulated other comprehensive loss	(54)	(54)
Retained earnings	16,891	16,989
Total stockholders’ equity	18,136	18,436
Total liabilities and stockholders’ equity	$ 33,193	$ 32,132

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Millions	Total	Shares of Common Stock	Common Stock and Additional Paid-In Capital	Treasury Stock	Accumulated Other Comprehensive Loss	Retained Earnings
Beginning balance (in shares) at Jul. 31, 2023		280,421
Beginning balance at Jul. 31, 2023	$ 17,269		$ 19,029	$ (16,772)	$ (55)	$ 15,067
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	218				(23)	241
Issuance of stock under employee stock plans, net of shares withheld for employee taxes (in shares)		850
Issuance of stock under employee stock plans, net of shares withheld for employee taxes	(126)		(126)
Stock repurchases under stock repurchase programs (in shares)		(1,166)
Stock repurchases under stock repurchase programs	(603)			(603)
Dividends and dividend rights declared	(261)					(261)
Share-based compensation expense	495		495
Ending balance (in shares) at Oct. 31, 2023		280,105
Ending balance at Oct. 31, 2023	16,992		19,398	(17,375)	(78)	15,047
Beginning balance (in shares) at Jul. 31, 2024		280,268
Beginning balance at Jul. 31, 2024	18,436		20,251	(18,750)	(54)	16,989
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	197				0	197
Issuance of stock under employee stock plans, net of shares withheld for employee taxes (in shares)		768
Issuance of stock under employee stock plans, net of shares withheld for employee taxes	$ (143)		(143)
Stock repurchases under stock repurchase programs (in shares)	(915)	(915)
Stock repurchases under stock repurchase programs	$ (570)			(570)
Dividends and dividend rights declared	(295)					(295)
Share-based compensation expense	511		511
Ending balance (in shares) at Oct. 31, 2024		280,121
Ending balance at Oct. 31, 2024	$ 18,136		$ 20,619	$ (19,320)	$ (54)	$ 16,891

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Statement of Stockholders' Equity [Abstract]
Dividends and dividend rights declared (in dollars per share)	$ 1.04	$ 0.90

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Cash flows from operating activities:
Net income	$ 197	$ 241
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation	44	33
Amortization of acquired intangible assets	157	158
Non-cash operating lease cost	19	22
Share-based compensation expense	511	495
Deferred income taxes	(91)	(126)
Other	63	28
Total adjustments	703	610
Originations and purchases of loans held for sale	0	(44)
Sales and principal repayments of loans held for sale	0	35
Changes in operating assets and liabilities:
Accounts receivable	31	33
Income taxes receivable	51	12
Prepaid expenses and other assets	(27)	(33)
Accounts payable	(75)	(5)
Accrued compensation and related liabilities	(507)	(232)
Deferred revenue	19	(159)
Income taxes payable	12	(565)
Operating lease liabilities	(22)	(20)
Other liabilities	(20)	30
Total changes in operating assets and liabilities	(538)	(939)
Net cash provided by (used in) operating activities	362	(97)
Cash flows from investing activities:
Purchases of corporate and customer fund investments	(306)	(92)
Sales of corporate and customer fund investments	55	94
Maturities of corporate and customer fund investments	235	301
Purchases of property and equipment	(33)	(84)
Originations and purchases of loans held for investment	(666)	(377)
Sales of loans originally classified as held for investment	110	0
Principal repayments of loans held for investment	420	358
Other	(3)	10
Net cash provided by (used in) investing activities	(188)	210
Cash flows from financing activities:
Proceeds from issuance of long-term debt, net of discount and issuance costs	0	3,956
Repayments of debt	0	(4,200)
Proceeds from borrowings under secured revolving credit facilities	85	0
Proceeds from issuance of stock under employee stock plans	96	92
Payments for employee taxes withheld upon vesting of restricted stock units	(239)	(212)
Cash paid for purchases of treasury stock	(557)	(584)
Dividends and dividend rights paid	(296)	(260)
Net change in funds receivable and funds payable and amounts due to customers	1,672	2,040
Other	0	17
Net cash provided by financing activities	761	849
Effect of exchange rates on cash, cash equivalents, restricted cash, and restricted cash equivalents	0	(17)
Net increase in cash, cash equivalents, restricted cash, and restricted cash equivalents	935	945
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period	7,099	2,852
Cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period	8,034	3,797
Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents reported within the condensed consolidated balance sheets to the total amounts reported on the condensed consolidated statements of cash flows
Cash and cash equivalents	2,872	1,734
Restricted cash and restricted cash equivalents included in funds receivable and amounts held for customers	5,162	2,063
Total cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period	8,034	3,797
Supplemental schedule of non-cash investing activities:
Transfers of loans originated or purchased as held for investment to held for sale	$ 113	$ 0

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	3 Months Ended
	Oct. 31, 2024
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 and mid-market businesses prosper by delivering financial management, compliance, and marketing products and services. We also provide specialized tax products to accounting professionals. We help consumers do their taxes with ease and confidence, understand their financial picture, build credit, save more to make ends meet, get their largest tax refund, pay off debt, and receive personalized suggestions on how to grow their money. We help small and mid-market businesses grow and run their business all in one place, including bookkeeping, getting paid, accessing capital, paying employees, getting and retaining customers, and managing their customer relationships. We do this through our global AI-driven expert platform and our offerings including TurboTax, Credit Karma, QuickBooks, and Mailchimp. Lacerte, ProSeries, and ProConnect Tax Online are our leading tax preparation offerings for professional accountants. Incorporated in 1984 and headquartered in Mountain View, California, we sell our products and services primarily in the United States (U.S.). Basis of Presentation These condensed consolidated financial statements include the financial statements of Intuit and its wholly-owned subsidiaries. We have eliminated all intercompany balances and transactions in consolidation. We have included all adjustments, consisting only of normal recurring items, which we considered necessary for a fair presentation of our financial results for the interim periods presented. We have reclassified certain amounts previously reported in our financial statements to conform to the current presentation. On August 1, 2024, we renamed our Small Business & Self-Employed segment as the Global Business Solutions segment. This new name better aligns with the global reach of the Mailchimp and QuickBooks platform, our focus on serving both small and mid-market businesses, and our vision to become the end-to-end platform that customers use to grow and run their business. See Note 12, " Segment Information ," for more information. On August 1, 2024, we reorganized certain technology and customer success functions in our Global Business Solutions, Consumer, and ProTax segments that support and benefit our overall platform and are managed at that level rather than at the segment level. As a result of these reorganizations, costs associated with these functions are no longer included in segment operating income and are now included in other corporate expenses. For the three months ended October 31, 2023, we reclassified expenses totaling $332 million from Global Business Solutions , $65 million from Consumer, and $8 million from ProTax to other corporate expenses, respectively, to conform to the current presentation. See Note 12, " Segment Information ," for more information. These unaudited condensed consolidated financial statements and accompanying notes should be read together with the audited consolidated financial statements in Part II, Item 8 of our Annual Report on Form 10-K for the fiscal year ended July 31, 2024. Results for the three months ended October 31, 2024 are not necessarily indicative of the results we expect for the fiscal year ending July 31, 2025 or any other future period. 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 heavily 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. Significant Accounting Policies We described our significant accounting policies in Note 1 to the financial statements in Part II, Item 8 of our Annual Report on Form 10-K for the fiscal year ended July 31, 2024. There have been no changes to our significant accounting policies during the first three months of fiscal 2025. Use of Estimates In preparing our condensed 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 held for investment, 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, the fair value of assets acquired and liabilities assumed for business combinations, and the fair value of notes receivable held for sale. We also use estimates in determining the remaining economic lives and fair values of acquired intangible assets, property and equipment, and other long-lived assets. In addition, we use assumptions to estimate the fair value of reporting units and share-based compensation. Despite our intention to establish accurate estimates and use reasonable assumptions, actual results may differ from our estimates. Computation of Net Income Per Share We compute basic net income or loss per share using the weighted-average number of common shares outstanding during the period. We compute diluted net income per share using the weighted-average number of common shares and dilutive potential common shares outstanding during the period. Dilutive potential common shares consist of the shares issuable upon the exercise of stock options and upon the vesting of restricted stock units (RSUs) under the treasury stock method. We include stock options with combined exercise prices and unrecognized compensation expense that are less than the average market price for our common stock, and RSUs with unrecognized compensation expense that is less than the average market price for our common stock, in the calculation of diluted net income per share. We exclude stock options with combined exercise prices and unrecognized compensation expense that are greater than the average market price for our common stock, and RSUs with unrecognized compensation expense that is greater than the average market price for our common stock, from the calculation of diluted net income per share because their effect is anti-dilutive. Under the treasury stock method, the amount that must be paid to exercise stock options and the amount of compensation expense for future service that we have not yet recognized for stock options and RSUs are assumed to be used to repurchase shares. Dividend rights apply to all RSUs that we grant and are accumulated and paid when the underlying RSUs vest. Since the dividend rights are subject to the same vesting requirements as the underlying equity awards, they are considered a contingent transfer of value. Consequently, the RSUs are not considered participating securities, and we do not present them separately in earnings per share. In loss periods, basic net loss per share and diluted net loss per share are the same since the effect of potential common shares is anti-dilutive and therefore excluded. The following table presents the composition of shares used in the computation of basic and diluted net income per share for the periods indicated. Three Months Ended (In millions, except per share amounts) October 31, October 31, Numerator: Net income $ 197 $ 241 Denominator: Shares used in basic per share amounts: Weighted-average common shares outstanding 280 280 Shares used in diluted per share amounts: Weighted-average common shares outstanding 280 280 Dilutive common equivalent shares from stock options and restricted awards 3 3 Dilutive weighted-average common shares outstanding 283 283 Basic and diluted net income per share: Basic net income per share $ 0.70 $ 0.86 Diluted net income per share $ 0.70 $ 0.85 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 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 three months ended October 31, 2024, we recognized revenue of $524 million that was included in deferred revenue at July 31, 2024. During the three months ended October 31, 2023, we recognized revenue of $638 million that was included in deferred revenue at July 31, 2023. Our performance obligations are generally satisfied within 12 months of the initial contract date. As of October 31, 2024 and July 31, 2024, the deferred revenue balance related to performance obligations that will be satisfied after 12 months was $3 million and $4 million, respectively, and is included in other long-term obligations on our condensed consolidated balance sheets. Concentration of Credit Risk and Significant Customers No customer accounted for 10% or more of total net revenue in the three months ended October 31, 2024 or October 31, 2023. No customer accounted for 10% or more of gross accounts receivable at October 31, 2024 or July 31, 2024. Accounting Standards Not Yet Adopted Segment Information - In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. " This standard requires incremental segment information disclosures, including disclosures of significant segment expenses that are regularly provided to the chief operating decision maker (CODM), a description of other segment items by reportable segment, and any additional measures of a segment's profit or loss used by the CODM when deciding how to allocate resources. The standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, which means that it will be effective for our annual reporting for the fiscal year ending July 31, 2025 and for interim period reporting beginning in fiscal 2026. Early adoption is permitted, and retrospective adoption is required for all prior periods presented. We are currently evaluating the impact of our pending adoption of ASU 2023-07 on our consolidated financial statements and related disclosures. Income Tax - In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures. " This standard requires additional disclosures related to the income tax rate reconciliation, income taxes paid by jurisdiction, and other income tax-related disclosures. The standard is effective for fiscal years beginning after December 15, 2024, which means that it will be effective for us for the fiscal year ending July 31, 2026. Early adoption is permitted on either a prospective or retrospective basis. We are currently evaluating the impact of adopting ASU 2023-09 on our consolidated financial statements and related disclosures. Income Statement - Expense Disaggregation - In November 2024, the FASB issued ASU 2024-03, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures. " This standard requires entities to disaggregate operating expenses into specific categories such as employee compensation, depreciation, and intangible asset amortization, by relevant expense caption on the statement of operations. The standard is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, which means that it will be effective for our annual reporting for the fiscal year ending July 31, 2028 and for interim period reporting beginning in fiscal 2029. Early adoption is permitted on either a prospective or retrospective basis. We are currently evaluating the impact of adopting ASU 2024-03 on our consolidated financial statements and related disclosures.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Oct. 31, 2024
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. October 31, 2024 July 31, 2024 (In millions) Level 1 Level 2 Total Level 1 Level 2 Total Assets: Cash equivalents, primarily money market funds $ 1,832 $ — $ 1,832 $ 2,538 $ — $ 2,538 Available-for-sale debt securities: Corporate notes — 488 488 — 456 456 U.S. agency securities — 148 148 — 159 159 Total available-for-sale debt securities — 636 636 — 615 615 Total assets measured at fair value on a recurring basis $ 1,832 $ 636 $ 2,468 $ 2,538 $ 615 $ 3,153 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. October 31, 2024 July 31, 2024 (In millions) Level 1 Level 2 Total Level 1 Level 2 Total Cash equivalents: In cash and cash equivalents $ 1,832 $ — $ 1,832 $ 2,538 $ — $ 2,538 Available-for-sale debt securities: In investments $ — $ 486 $ 486 $ — $ 465 $ 465 In funds receivable and amounts held for customers — 150 150 — 150 150 Total available-for-sale debt securities $ — $ 636 $ 636 $ — $ 615 $ 615 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 assets whose fair values we measure using Level 3 inputs consist of notes receivable held for sale. These loans are recorded at the lower of cost or fair value. As of October 31, 2024 and July 31, 2024, total notes receivable held for sale were not material and the difference between amortized cost and fair value was not material. Financial liabilities whose fair values we measure using Level 2 inputs consist of senior unsecured notes. 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. At each of the reporting periods ended October 31, 2024 and July 31, 2024, the total estimated fair value of the senior unsecured notes was $5.5 billion. At each of the reporting periods ended October 31, 2024 and July 31, 2024, the carrying value of the senior unsecured notes was $5.5 billion. See Note 6, “ Debt ,” for more information. There were no transfers between Level 1 and Level 2 of the fair value hierarchy during the three months ended October 31, 2024. Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis Long-term investments primarily include non-marketable equity securities in privately-held companies that do not have a readily determinable fair value. They are accounted for at cost and adjusted based on observable price changes from orderly transactions for identical or similar investments of the same issuer or impairment. These investments are classified as Level 3 in the fair value hierarchy because we estimate the value of these investments using a valuation method based on observable transaction price changes at the transaction date. We recognized no upward adjustments during the three months ended October 31, 2024 and October 31, 2023. Downward adjustments recognized during the three months ended October 31, 2024 amounted to $42 million. We recognized no downward adjustments during the three months ended October 31, 2023. Cumulative upward adjustments amounted to $75 million, and cumulative downward adjustments, including impairments, amounted to $55 million through October 31, 2024 for measurement alternative investments held as of October 31, 2024. The carrying value of long-term investments on our condensed consolidated balance sheets was $90 million and $131 million at October 31, 2024 and July 31, 2024, respectively.

Cash and Cash Equivalents, Inve

Cash and Cash Equivalents, Investments, and Funds Receivable and Amounts Held for Customers	3 Months Ended
	Oct. 31, 2024
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 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. Funds receivable and amounts held for customers represent funds receivable from third-party payment processors for customer transactions, funds in-transit to our customers, and funds held on behalf of our customers that are invested in cash and cash equivalents and investment-grade available-for-sale securities, restricted for use solely for the purpose of satisfying amounts we owe on behalf of our customers. Our obligations with respect to funds we transmit on behalf of our customers are satisfied when the funds are settled in the customers' accounts. These obligations, including funds in-transit to our customers, are reflected in funds payable and amounts due to customers in the accompanying condensed consolidated balance sheets. Except for direct obligations of the U.S. government, securities issued by agencies of the U.S. government, and money market funds, we diversify our investments in debt securities by limiting our holdings with any individual issuer. The following table summarizes our cash and cash equivalents, investments, and funds receivable and amounts held for customers by balance sheet classification at the dates indicated. October 31, 2024 July 31, 2024 (In millions) Amortized Fair Value Amortized Fair Value Classification on condensed consolidated balance sheets: Cash and cash equivalents $ 2,872 $ 2,872 $ 3,609 $ 3,609 Investments 486 486 465 465 Funds receivable and amounts held for customers 5,606 5,606 3,921 3,921 Total cash and cash equivalents, investments, and funds receivable and amounts held for customers $ 8,964 $ 8,964 $ 7,995 $ 7,995 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 October 31, 2024 and July 31, 2024, this excludes $294 million and $281 million, respectively, of funds receivable on our condensed consolidated balance sheets in funds receivable and amounts held for customers that were not measured and recorded at fair value. October 31, 2024 July 31, 2024 (In millions) Amortized Fair Value Amortized Fair Value Type of issue: Total cash, cash equivalents, restricted cash, $ 8,034 $ 8,034 $ 7,099 $ 7,099 Available-for-sale debt securities: Corporate notes 488 488 456 456 U.S. agency securities 148 148 159 159 Total available-for-sale debt securities 636 636 615 615 Total cash, cash equivalents, restricted cash, restricted cash equivalents, and investments $ 8,670 $ 8,670 $ 7,714 $ 7,714 We use the specific identification method to compute gains and losses on investments. We include realized gains and losses on our available-for-sale debt securities in interest and other income, net in our condensed consolidated statements of operations. Gross realized gains and losses on our available-for-sale debt securities for the three months ended October 31, 2024 and October 31, 2023 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 condensed consolidated balance sheets, except for certain unrealized losses described below. Gross unrealized gains and losses on our available-for-sale debt securities at October 31, 2024 and July 31, 2024 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, net in our condensed 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 condensed consolidated balance sheets. We determined there were no credit losses related to available-for-sale debt securities as of October 31, 2024. Unrealized losses on available-for-sale debt securities at October 31, 2024 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. October 31, 2024 July 31, 2024 (In millions) Amortized Fair Value Amortized Fair Value Due within one year $ 541 $ 541 $ 517 $ 516 Due within two years 40 40 55 56 Due within three years 55 55 43 43 Due after three years — — — — Total available-for-sale debt securities $ 636 $ 636 $ 615 $ 615 The following table summarizes our funds receivable and amounts held for customers by asset category at the dates indicated. (In millions) October 31, 2024 July 31, Restricted cash and restricted cash equivalents $ 5,162 $ 3,490 Restricted available-for-sale debt securities and funds receivable 444 431 Total funds receivable and amounts held for customers $ 5,606 $ 3,921 (In millions) October 31, 2023 July 31, Restricted cash and restricted cash equivalents $ 2,063 $ 4 Restricted available-for-sale debt securities and funds receivable 462 416 Total funds receivable and amounts held for customers $ 2,525 $ 420

Notes Receivable and Allowances

Notes Receivable and Allowances for Credit Losses	3 Months Ended
	Oct. 31, 2024
Receivables [Abstract]
Notes Receivable and Allowances for Credit Losses	4. Notes Receivable and Allowances for Credit Losses As of October 31, 2024, our notes receivable portfolio consisted of notes receivable held for investment, including term loans to small businesses and refund advance loans to consumers, and notes receivable held for sale, including term loans to small businesses. We classify loans as notes receivable held for investment when we have both the intent and ability to hold until maturity or payoff. We classify loans as notes receivable held for sale when we have the intent and ability to sell substantially all of our rights, title, and interests in these qualified loans to a third-party investor. A loan that is initially designated as held for sale or held for investment may be reclassified when our intent for that loan changes. When a loan held for investment is reclassified to held for sale and recorded at the lower of amortized cost or fair value, the related allowance for credit loss for that loan is released, and any adjustment to record the loan at the lower of amortized cost or fair value is recorded. Notes Receivable Held for Investment Term loans to small businesses. We provide financing to small businesses via term loans that we originate directly or through an originating bank partner. During the three months ended October 31, 2024 and October 31, 2023, we purchased term loans from our originating bank partner with principal balances in the amount of $650 million and $279 million, respectively. As of October 31, 2024, we had commitments to purchase $22 million in term loans that were originated on or prior to October 31, 2024. The term loans are not secured and are recorded at amortized cost, which includes unpaid principal balances, deferred origination costs, and any related discount or premium, net of allowances for credit losses. As of October 31, 2024 and July 31, 2024, the net notes receivable balance for term loans to small businesses was $1.0 billion and $912 million, respectively. The current portion is included in notes receivable held for investment and the long-term portion is included in other assets on our condensed consolidated balance sheets. We maintain an allowance for credit losses on loans held for investment to reserve for lifetime expected credit losses in the loan portfolio. The allowance for credit losses is determined based on our current estimate of lifetime expected credit losses, historical credit losses, estimates of recoveries, and future expectations as of each balance sheet date. We evaluate the creditworthiness of our term loan portfolio on a pooled basis due to its composition of loans with similar general credit risk and characteristics. The allowance is subjective and requires management estimates, including such factors as known and inherent risks in the loan portfolio, historical losses, adverse situations that may affect borrowers' ability to repay and current and forecasted economic conditions. Expected credit losses are measured based on a loss forecasting model and calculated by applying loss curves derived from loan level risk segment and term mixes, aggregated at monthly loan vintages. Loss curves are estimated based on a combination of empirical loss curve data and management judgment. The methodologies are updated periodically to reflect factors such as actual loan performance and changes in assumptions based on their risk characteristics. We use empirical data and management judgment to estimate losses for new credit tests or products for which we do not have enough history. When available information confirms that the specific loans or portions thereof are uncollectible, identified amounts are charged off against the allowance for credit losses. Loans are charged off in accordance with our charge-off policy, as the contractual principal becomes 120 days past due or meets other charge-off policy requirements. Subsequent recoveries of the unpaid principal balance, if any, are credited to the allowance for credit losses. As of October 31, 2024 and July 31, 2024, the allowances for credit losses were not material. During the three months ended October 31, 2024 and October 31, 2023, the amount of charge-offs recorded and the amount of recoveries on term loans to small businesses were not material. We consider a loan to be delinquent when the payments are one day past due. We place delinquent term loans on nonaccrual status and stop accruing interest revenue. Term loans are returned to accrual status if they are brought current or have performed in accordance with the contractual terms for a reasonable period of time and, in our judgment, will continue to make periodic principal and interest payments as per contractual terms. Past due amounts were not material for all periods presented. Interest revenue is earned on term loans originated and purchased and held for investment in accordance with the specified period of time and defined interest rate noted in the loan contract. Interest revenue is recorded net of amortized deferred origination fees and costs, and loan discounts, and is included in service revenue in our condensed consolidated statements of operations. Interest revenue was not material for all periods presented. 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 credit losses. As of October 31, 2024 and July 31, 2024, the net notes receivable balances for refund advance loans were not material. We maintain an allowance for credit losses to reserve for potentially uncollectible loans. We estimate the allowance based on expected funding of refunds by the IRS using historical trends. When we determine that any amounts are uncollectible, we write them off against the allowance. As of October 31, 2024 and July 31, 2024, the allowances for credit losses on refund advance loans were not material. Notes Receivable Held for Sale Term loans to small businesses. In August 2023, we entered into a forward flow arrangement with an institutional investor, which has since been amended, most recently in September 2024. Pursuant to this amended arrangement, we have a commitment to sell to the institutional investor a minimum of approximately $8 million monthly and $350 million cumulatively in participation interests in unsecured term loans to small businesses over four years, subject to certain eligibility criteria. As of October 31, 2024, we have met the cumulative commitment to sell term loans under this arrangement, and the remaining monthly commitment totals $248 million through July 31, 2027. Notes receivable held for sale are recorded at the lower of amortized cost or fair value determined on an individual loan basis. We recognize a gain or loss on sale of loans sold to third parties by calculating the difference between the proceeds received and the carrying value of the loans sold. As of October 31, 2024 and July 31, 2024, the balances of notes receivables held for sale were $10 million and $3 million, respectively, and are included in notes receivable held for sale on our condensed consolidated balance sheets. Total sales of term loans during the three months ended October 31, 2024 and October 31, 2023 amounted to $106 million and $35 million, respectively. For the three months ended October 31, 2024 and October 31, 2023, gains on sales of loans were not material.

Acquired Intangible Assets

Acquired Intangible Assets	3 Months Ended
	Oct. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Acquired Intangible Assets	5. 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 Purchased Trade Total At October 31, 2024: Cost $ 6,195 $ 1,648 $ 680 $ 8,523 Accumulated amortization (1,712) (942) (207) (2,861) Acquired intangible assets, net $ 4,483 $ 706 $ 473 $ 5,662 Weighted-average life in years 14 8 13 13 At July 31, 2024: Cost $ 6,196 $ 1,648 $ 680 $ 8,524 Accumulated amortization (1,605) (905) (194) (2,704) Acquired intangible assets, net $ 4,591 $ 743 $ 486 $ 5,820 Weighted-average life in years 14 8 13 13 The following table shows the expected future amortization expense for our acquired intangible assets at October 31, 2024. Amortization of purchased technology is charged to amortization of acquired technology in our condensed 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 condensed consolidated statements of operations. If impairment events occur, they could accelerate the timing of acquired intangible asset charges. (In millions) Expected Fiscal year ending July 31, 2025 (excluding the three months ended October 31, 2024) $ 472 2026 627 2027 602 2028 586 2029 581 Thereafter 2,794 Total expected future amortization expense $ 5,662

Debt

Debt	3 Months Ended
	Oct. 31, 2024
Debt Disclosure [Abstract]
Debt	6. Debt The carrying value of our debt was as follows at the dates indicated: (Dollars in millions) October 31, July 31, Effective Senior unsecured notes issued June 2020: 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% Senior unsecured notes issued September 2023: 5.250% notes due September 2026 750 750 5.325% 5.125% notes due September 2028 750 750 5.258% 5.200% notes due September 2033 1,250 1,250 5.312% 5.500% notes due September 2053 1,250 1,250 5.576% Secured revolving credit facilities 670 585 Total principal balance of debt 6,170 6,085 Unamortized discount and debt issuance costs (46) (47) Net carrying value of debt $ 6,124 $ 6,038 Short-term debt $ 499 $ 499 Long-term debt $ 5,625 $ 5,539 Future principal payments for debt at October 31, 2024 were as shown in the table below. (In millions) Future Principal Payments Fiscal year ending July 31, 2025 (excluding the three months ended October 31, 2024) $ 500 2026 — 2027 1,550 2028 — 2029 1,120 Thereafter 3,000 Total future principal payments for debt $ 6,170 Senior Unsecured Notes 2020 Notes. In June 2020, we issued four series of senior unsecured notes (together, the 2020 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. As of October 31, 2024, $1.5 billion of the 2020 Notes remained outstanding. 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 2020 Notes under the effective interest method. We paid no interest on the 2020 Notes during either of the three months ended October 31, 2024 and 2023. The 2020 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 2020 Notes, we will be required to repurchase the 2020 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 2020 Notes requires us to comply with certain covenants. For example, the 2020 Notes limit our ability to create certain liens and enter into sale and leaseback transactions. As of October 31, 2024, we were compliant with all covenants governing the 2020 Notes. 2023 Notes. In September 2023, we issued four series of senior unsecured notes (together, the 2023 Notes) pursuant to a public debt offering. The proceeds from the issuance were $3.96 billion, net of debt discount of $20 million and debt issuance costs of $24 million, and were used, together with operating cash, to repay the outstanding balance on our unsecured term loan. As of October 31, 2024, $4.0 billion of the 2023 Notes remained outstanding. Interest is payable semiannually on March 15 and September 15 of each year. The discount and debt issuance costs are amortized to interest expense over the term of the 2023 Notes under the effective interest method. We paid $106 million in interest on the 2023 Notes during the three months ended October 31, 2024, and no interest during the three months ended October 31, 2023. The 2023 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. The indenture governing the 2023 Notes requires us to comply with certain covenants. For example, the 2023 Notes limit our ability to create certain liens and enter into sale and leaseback transactions. As of October 31, 2024, we were compliant with all covenants governing the 2023 Notes. Unsecured Credit Facilities 2024 Credit Facility. On February 5, 2024, we terminated our amended and restated credit agreement dated November 1, 2021 (2021 Credit Facility), and entered into a credit agreement with certain lenders providing for a $1.5 billion unsecured revolving credit facility that expires on February 5, 2029 (2024 Credit Facility). Under the 2024 Credit Facility, we may, subject to certain customary conditions, including approval of relevant lenders, on one or more occasions, increase commitments under the 2024 Credit Facility by an amount not to exceed $1 billion in the aggregate, and, on one or more occasions, extend the maturity date of the 2024 Credit Facility by one year. The 2024 Credit Facility includes a $500 million sublimit for borrowing swingline loans and a $250 million sublimit for the issuance of letters of credit. Advances under the unsecured revolving credit facility accrue interest at rates equal to (a) in the case of U.S. dollar borrowings, at our election, either (i) the alternate base rate plus a margin that ranges from 0.0% to 0.125%, or (ii) the adjusted term Secured Overnight Finance Rate (SOFR) plus a margin that ranges from 0.7% to 1.125%, or (b) in the case of foreign currency borrowings, the interest benchmark for the relevant currency specified in the credit agreement plus a margin that ranges from 0.7% to 1.125%. Actual margins under either election are based on our senior debt credit ratings. The 2024 Credit Facility includes customary affirmative and negative covenants, including a financial covenant that requires us to maintain a ratio of total gross debt to earnings before interest, taxes, depreciation and amortization (EBITDA), as defined in the agreement, of not greater than 4.00 to 1.00 as measured on a rolling twelve month basis as of the last day of each fiscal quarter. As of October 31, 2024, we were compliant with all covenants governing the 2024 Credit Facility. At October 31, 2024, no amounts were outstanding under the 2024 Credit Facility. We paid no interest on the 2024 Credit Facility during the three months ended October 31, 2024. 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 qualified 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 September 5, 2024. These amendments primarily increase the facility limit, extend the commitment term and final 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 interest at adjusted daily simple SOFR plus 1.25%. 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 August 31, 2027, and the final maturity date is August 31, 2028. The agreement includes certain affirmative and negative covenants, including financial covenants that require the subsidiary to maintain specified financial ratios. As of October 31, 2024, we were compliant with all covenants governing the 2019 Secured Facility. At October 31, 2024, $370 million was outstanding under the 2019 Secured Facility and the weighted-average interest rate was 6.25%, which includes the interest on the unused committed portion. The outstanding balance is secured by cash and receivables of the subsidiary totaling $1.3 billion as of October 31, 2024. Interest on the 2019 Secured Facility is payable monthly. We paid $5 million in interest on the 2019 Secured Facility during each of the three months ended October 31, 2024 and 2023. 2022 Secured Facility. 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. We have entered into several amendments to this facility, most recently on April 30, 2024. These amendments primarily extend the commitment term and final maturity date and increase the commitment amount. Under the amended 2022 Secured Facility, the facility limit is $500 million, of which $300 million is committed and $200 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 April 30, 2026, and the final maturity date is April 30, 2027. The agreement includes certain affirmative and negative covenants, including financial covenants that require the subsidiary to maintain specified financial ratios. As of October 31, 2024, we were compliant with all covenants governing the 2022 Secured Facility. At October 31, 2024, $300 million was outstanding under the 2022 Secured Facility and the weighted-average interest rate was 6.2%, which includes the interest on the unused committed portion. The outstanding balance is secured by cash and receivables of the subsidiary totaling $881 million as of October 31, 2024. Interest on the 2022 Secured Facility is payable monthly. We paid $5 million and $2 million in interest on the 2022 Secured Facility during the three months ended October 31, 2024 and 2023, respectively. Commercial Paper Program In June 2024, we established a $1.5 billion commercial paper program under which we may issue and sell unsecured short-term promissory notes (commercial paper). The maturities of the commercial paper may vary up to 397 days from the date of issuance. At each of the reporting periods ended October 31, 2024 and July 31, 2024, no amounts were outstanding under this program.

Other Liabilities and Commitmen

Other Liabilities and Commitments	3 Months Ended
	Oct. 31, 2024
Other Liabilities Disclosure [Abstract]
Other Liabilities and Commitments	7. Other Liabilities and Commitments Other Current Liabilities Other current liabilities were as follows at the dates indicated: (In millions) October 31, July 31, Executive deferred compensation plan liabilities $ 229 $ 207 Current portion of operating lease liabilities 65 71 Sales, property, and other taxes 52 47 Reserve for returns, credits, and promotional discounts 37 40 Interest payable 37 84 Other 116 100 Total other current liabilities $ 536 $ 549 The balances of several of our other current liabilities, particularly our reserves for returns, credits, and promotional discounts, are affected by the seasonality of our business. See Note 1, “Description of Business and Summary of Significant Accounting Policies – Seasonality,” for more information. Other Long-Term Obligations Other long-term obligations were as follows at the dates indicated: (In millions) October 31, July 31, Income tax liabilities $ 159 $ 157 Dividends payable 18 19 Deferred income tax liabilities 11 3 Deferred revenue 3 4 Other 30 25 Total other long-term obligations $ 221 $ 208 Unconditional Purchase Obligations We describe our unconditional purchase obligations in Note 9 to the financial statements in Part II, Item 8 of our Annual Report on Form 10-K for the fiscal year ended July 31, 2024. There were no significant changes outside the ordinary course of business in our purchase obligations during the three months ended October 31, 2024.

Leases

Leases	3 Months Ended
	Oct. 31, 2024
Leases [Abstract]
Leases	8. 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 17 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 lease for up to 7 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 sublease certain office facilities to third parties. These subleases have remaining lease terms of up to 6 years, one of which includes an option to extend the sublease for up to 5 years. The components of lease expense were as follows: Three Months Ended (In millions) October 31, October 31, Operating lease cost (1) $ 29 $ 26 Variable lease cost 5 6 Sublease income (3) (3) Total net lease cost $ 31 $ 29 (1) Includes short-term leases, which were not material for each of the three months ended October 31, 2024 and 2023. Supplemental cash flow information related to operating leases was as follows: Three Months Ended (In millions) October 31, October 31, Cash paid for amounts included in the measurement of operating lease liabilities $ 27 $ 25 Right-of-use assets obtained in exchange for operating lease liabilities $ 150 $ 14 Other information related to operating leases was as follows at the dates indicated: October 31, July 31, Weighted-average remaining lease term for operating leases 8.3 years 7.7 years Weighted-average discount rate for operating leases 3.7 % 3.3 % Future minimum lease payments under non-cancellable operating leases as of October 31, 2024 were as follows: (In millions) Operating Leases (1) Fiscal year ending July 31, 2025 (excluding the three months ended October 31, 2024) $ 59 2026 97 2027 95 2028 88 2029 91 Thereafter 347 Total future minimum lease payments 777 Less imputed interest (120) Present value of lease liabilities $ 657 (1) Non-cancellable sublease proceeds for the remainder of the fiscal year ending July 31, 2025 and the fiscal years ending July 31, 2026, 2027, 2028, 2029, and thereafter of $4 million, $3 million, $3 million, $2 million, $2 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: (In millions) October 31, July 31, Operating lease right-of-use assets $ 538 $ 411 Other current liabilities $ 65 $ 71 Operating lease liabilities 592 458 Total operating lease liabilities $ 657 $ 529 As of October 31, 2024, we have an additional operating lease of $101 million for office facilities that has not yet commenced and therefore is not reflected on the condensed consolidated balance sheets nor in the tables above. This lease is expected to commence in fiscal year 2025 with a lease term of 10 years.

Income Taxes

Income Taxes	3 Months Ended
	Oct. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	9. Income Taxes Effective Tax Rate We compute our provision for or benefit from income taxes by applying the estimated annual effective tax rate to income or loss from recurring operations and adding the effects of any discrete income tax items specific to the period. We recognized excess tax benefits on share-based compensation of $28 million in our provision for income taxes for each of the three months ended October 31, 2024 and 2023. Our effective tax rate for the three months ended October 31, 2024 was approximately 8%. Excluding discrete tax items primarily related to share-based compensation, our effective tax rate was approximately 24%. The difference from the federal statutory rate of 21% was primarily due to state income taxes and non-deductible share-based compensation, which were partially offset by the tax benefit we received from the federal research and experimentation credit. Our effective tax rate for the three months ended October 31, 2023 was approximately 9%. Excluding discrete tax items primarily related to share-based compensation, our effective tax rate was approximately 24% . The difference from the federal statutory rate of 21% was primarily due to state income taxes and non-deductible share-based compensation, which were partially offset by the tax benefit we received from the federal research and experimentation credit. 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. Unrecognized Tax Benefits and Other Considerations The total amount of our unrecognized tax benefits at July 31, 2024 was $327 million. If we were to recognize these net benefits, our income tax expense would reflect a favorable net impact of $210 million. There were no material changes to these amounts during the three months ended October 31, 2024. We do not believe that it is reasonably possible that there will be a significant increase or decrease in our unrecognized tax benefits over the next 12 months.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Oct. 31, 2024
Equity [Abstract]
Stockholders' Equity	10. 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. During the three months ended October 31, 2024, we repurchased a total of 915,000 shares for $570 million under these programs. Included in this amount were $12 million of repurchases, which occurred in late October 2024 and settled in early November 2024. On August 20, 2024, our Board of Directors approved an increase in the authorization under the existing stock repurchase program under which we are authorized to repurchase up to an additional $3 billion of our common stock. At October 31, 2024, we had authorization from our Board of Directors for up to $4.3 billion in stock repurchases. Future stock repurchases under the current program are at the discretion of management, and authorization of future stock repurchase programs is subject to the final determination of our Board of Directors. Our treasury shares are repurchased at the market price on the trade date; accordingly, all amounts paid to reacquire these shares have been recorded as treasury stock on our condensed consolidated balance sheets. Any direct costs to acquire treasury stock are recorded to treasury stock on our condensed 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. For all periods presented, we issued 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 three months ended October 31, 2024, we declared quarterly cash dividends that totaled $1.04 per share of outstanding common stock for a total of $295 million. In November 2024, our Board of Directors declared a quarterly cash dividend of $1.04 per share of outstanding common stock payable on January 17, 2025 to stockholders of record at the close of business on January 9, 2025. Future declarations of dividends and the establishment of future record dates and payment dates are subject to the final determination of our Board of Directors. Share-Based Compensation Expense The following table summarizes the total share-based compensation expense that we recorded in operating income for the periods shown. Three Months Ended (In millions) October 31, October 31, Cost of revenue $ 111 $ 101 Selling and marketing 137 123 Research and development 161 161 General and administrative 102 110 Total share-based compensation expense $ 511 $ 495 Share-Based Awards Available for Grant A summary of share-based awards available for grant under our plans for the three months ended October 31, 2024 was as follows: (Shares in thousands) Shares Balance at July 31, 2024 27,317 Restricted stock units granted (1) (906) Options granted — Share-based awards canceled/forfeited/expired (1) (2) 2,622 Balance at October 31, 2024 29,033 (1) RSUs granted from the pool of shares available for grant under our 2005 Equity Incentive Plan reduce the pool by 2.3 shares for each share granted. RSUs forfeited and returned to the pool of shares available for grant under the 2005 Equity Incentive Plan increase the pool by 2.3 shares for each share forfeited. (2) Stock options and RSUs canceled, expired, or forfeited under our 2005 Equity Incentive Plan are returned to the pool of shares available for grant. Under the 2005 Equity Incentive 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. Restricted Stock Unit and Restricted Stock Activity A summary of RSU and restricted stock activity for the three months ended October 31, 2024 was as follows: (Shares in thousands) Number Weighted- Average Grant Date Fair Value Nonvested at July 31, 2024 10,924 $ 496.64 Granted 394 636.48 Vested (895) 483.74 Forfeited (746) 416.46 Nonvested at October 31, 2024 9,677 $ 509.71 At October 31, 2024, there was approximately $4.5 billion of unrecognized compensation cost related to non-vested RSUs and restricted stock with a weighted-average vesting period of 2.9 years. We adjust unrecognized compensation cost for actual forfeitures as they occur. Stock Option Activity A summary of stock option activity for the three months ended October 31, 2024 was as follows: Options Outstanding (Shares in thousands) Number Weighted- Average Exercise Price Per Share Balance at July 31, 2024 1,772 $ 449.66 Granted — — Exercised (122) 370.42 Canceled or expired (19) 486.49 Balance at October 31, 2024 1,631 $ 455.16 Exercisable at October 31, 2024 880 $ 379.88 At October 31, 2024, there was approximately $117 million of unrecognized compensation cost related to non-vested stock options with a weighted-average vesting period of 3.0 years. We will adjust unrecognized compensation cost for actual forfeitures as they occur.

Legal Proceedings

Legal Proceedings	3 Months Ended
	Oct. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	11. 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 (ALJ) at the FTC and, on August 29, 2023, the FTC's ALJ issued a decision in favor of the FTC and adverse to Intuit. On January 19, 2024, the FTC Commissioners affirmed the ALJ's decision and issued a final order that requires us to adhere to certain marketing practices and does not contain any monetary penalties. On January 21, 2024, we filed a petition for review with the United States Court of Appeals for the Fifth Circuit and this appeal is pending. The FTC's order became effective on March 23, 2024, and is now pending review by the 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 condensed 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	3 Months Ended
	Oct. 31, 2024
Segment Reporting [Abstract]
Segment Information	12. 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 service and product offerings. On August 1, 2024, we renamed our Small Business & Self-Employed segment as the Global Business Solutions segment. This new name better aligns with the global reach of the Mailchimp and QuickBooks platform, our focus on serving both small and mid-market businesses, and our vision to become the end-to-end platform that customers use to grow and run their business. On August 1, 2024, we reorganized certain technology and customer success functions in our Global Business Solutions, Consumer, and ProTax segments that support and benefit our overall platform and are managed at that level rather than at the segment level. As a result of these reorganizations, costs associated with these functions are no longer included in segment operating income and are now included in other corporate expenses. For the three months ended October 31, 2023, we reclassified expenses totaling $332 million from Global Business Solutions, $65 million from Consumer, and $8 million from ProTax to other corporate expenses to conform to the current presentation . Global Business Solutions : This segment serves small and mid-market businesses 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, checking accounts through an FDIC member bank partner, and financing for small and mid-market 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. 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 U.S. and sell primarily to customers in the U.S. Total international net revenue was approximately 10% of consolidated net revenue for each of the three months ended October 31, 2024 and 2023. We include expenses such as corporate selling and marketing, 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. As part of our platform strategy, we also include customer success and product development for our Global Business Solutions, Consumer, and ProTax segments in unallocated corporate items as we do not allocate these expenses to the segments because they are managed at the platform level. Customer success includes the costs of tax and bookkeeping experts that support our TurboTax Live and QuickBooks Live offerings. For our Credit Karma reportable segment, segment expenses include certain 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, professional fees and transaction charges related to business combinations, and restructuring charges. The accounting policies of our reportable segments are the same as those described in the summary of significant accounting policies in Note 1 to the financial statements in Part II, Item 8 of our Annual Report on Form 10-K for the fiscal year ended July 31, 2024 and in Note 1, "Description of Business and Summary of Significant Accounting Policies – Significant Accounting Policies" in this Quarterly Report on Form 10-Q. Except for goodwill and acquired intangible assets, we do not generally track assets by reportable segment and, consequently, we do not disclose total assets by reportable segment. The following table shows our financial results by reportable segment for the periods indicated. Three Months Ended (In millions) October 31, October 31, Net revenue: Global Business Solutions $ 2,544 $ 2,344 Consumer 176 187 Credit Karma 524 405 ProTax 39 42 Total net revenue $ 3,283 $ 2,978 Operating income: Global Business Solutions $ 1,999 $ 1,824 Consumer 76 132 Credit Karma 180 106 ProTax 20 22 Total segment operating income 2,275 2,084 Unallocated corporate items: Share-based compensation expense (511) (495) Other corporate expenses (1,327) (1,124) Amortization of acquired technology (37) (38) Amortization of other acquired intangible assets (120) (120) Restructuring (9) — Total unallocated corporate items (2,004) (1,777) Total operating income $ 271 $ 307 Revenue classified by significant service and product offerings was as follows: Three Months Ended (In millions) October 31, October 31, Net revenue: QuickBooks Online Accounting $ 965 $ 798 Online Services 978 820 Total Online Ecosystem 1,943 1,618 QuickBooks Desktop Accounting 296 376 Desktop Services and Supplies 305 350 Total Desktop Ecosystem 601 726 Global Business Solutions 2,544 2,344 Consumer 176 187 Credit Karma 524 405 ProTax 39 42 Total net revenue $ 3,283 $ 2,978

Restructuring

Restructuring	3 Months Ended
	Oct. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring	13. Restructuring In July 2024, our management approved, committed to, and initiated a plan of reorganization (the Plan) focused on reallocating resources to our key growth areas. The Plan includes the exit of employees and the closing of real estate sites in certain markets in service to growing technology teams and capabilities in strategic locations. The actions associated with the Plan were substantially complete in the first quarter of fiscal 2025. Total restructuring costs associated with the Plan are estimated to be approximately $237 million. During the three months ended October 31, 2024, we recorded a $9 million charge in connection with the Plan. This charge is primarily related to severance, employee benefits, and site closure costs and is recorded to restructuring in our condensed consolidated statements of operations. Any changes to the estimates of executing the Plan will be reflected in future results of operations. The following table summarizes the activity for the Plan. (In millions) Accrued July 31, 2024 Additional Costs/ Adjustments Cash Payments Non-Cash Items Accrued October 31, 2024 Total Costs Incurred to Date Total Expected Plan Cost Global Business Solutions $ 84 $ 2 $ (78) $ — $ 8 $ 98 $ 100 Consumer 9 — (9) — — 9 9 Credit Karma — — — — — — — ProTax 2 — (2) — — 2 2 Corporate (1) 92 7 (85) (5) 9 123 126 Totals $ 187 $ 9 $ (174) $ (5) $ 17 $ 232 $ 237 (1) Restructuring costs within corporate relate to platform expenses and other administrative functions that are not allocated to the segments. The liability for restructuring charges is included in accrued compensation and related liabilities in the accompanying condensed consolidated balance sheets.

Subsequent Event

Subsequent Event	3 Months Ended
	Oct. 31, 2024
Subsequent Events [Abstract]
Subsequent Event	14. Subsequent Event

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Pay vs Performance Disclosure
Net income	$ 197	$ 241

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Oct. 31, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Mark Notarainni [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On September 5, 2024, Mark Notarainni, Executive Vice President and General Manager, Consumer Group, adopted a plan for the sale of up to 43,399 shares of the Company's common stock, subject to certain conditions, from December 5, 2024 through October 10, 2025.
Name	Mark Notarainni
Title	Executive Vice President and General Manager
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 5, 2024
Expiration Date	October 10, 2025
Arrangement Duration	400 days
Aggregate Available	43,399
Kerry McLean [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On September 6, 2024, Kerry J. McLean, Executive Vice President, General Counsel and Corporate Secretary, adopted a plan for the sale of up to 33,841 shares of the Company's common stock, subject to certain conditions, from December 6, 2024 through October 10, 2025.
Name	Kerry J. McLean
Title	Executive Vice President, General Counsel and Corporate Secretary
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	On September 6, 2024
Expiration Date	October 10, 2025
Arrangement Duration	399 days
Aggregate Available	33,841
Laura Fennell [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On September 27, 2024, Laura A. Fennell, Executive Vice President and Chief People & Places Officer, adopted a plan for the sale of up to 70,261 shares of the Company's common stock, subject to certain conditions, from December 27, 2024 through October 10, 2025.
Name	Laura A. Fennell
Title	Executive Vice President and Chief People & Places Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	On September 27, 2024
Expiration Date	October 10, 2025
Arrangement Duration	378 days
Aggregate Available	70,261
Sasan Goodarzi [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On September 30, 2024, Sasan K. Goodarzi, President, Chief Executive Officer and Director, adopted a plan for the sale of up to 176,562 shares of the Company's common stock, subject to certain conditions, from December 30, 2024 through October 10, 2025.
Name	Sasan K. Goodarzi
Title	President, Chief Executive Officer and Director
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	On September 30, 2024
Expiration Date	October 10, 2025
Arrangement Duration	375 days
Aggregate Available	176,562

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Oct. 31, 2024
Accounting Policies [Abstract]
Description of Business and Basis of Presentation	Description of Business Intuit helps consumers and small and mid-market businesses prosper by delivering financial management, compliance, and marketing products and services. We also provide specialized tax products to accounting professionals. We help consumers do their taxes with ease and confidence, understand their financial picture, build credit, save more to make ends meet, get their largest tax refund, pay off debt, and receive personalized suggestions on how to grow their money. We help small and mid-market businesses grow and run their business all in one place, including bookkeeping, getting paid, accessing capital, paying employees, getting and retaining customers, and managing their customer relationships. We do this through our global AI-driven expert platform and our offerings including TurboTax, Credit Karma, QuickBooks, and Mailchimp. Lacerte, ProSeries, and ProConnect Tax Online are our leading tax preparation offerings for professional accountants. Incorporated in 1984 and headquartered in Mountain View, California, we sell our products and services primarily in the United States (U.S.). Basis of Presentation These condensed consolidated financial statements include the financial statements of Intuit and its wholly-owned subsidiaries. We have eliminated all intercompany balances and transactions in consolidation. We have included all adjustments, consisting only of normal recurring items, which we considered necessary for a fair presentation of our financial results for the interim periods presented. We have reclassified certain amounts previously reported in our financial statements to conform to the current presentation. On August 1, 2024, we renamed our Small Business & Self-Employed segment as the Global Business Solutions segment. This new name better aligns with the global reach of the Mailchimp and QuickBooks platform, our focus on serving both small and mid-market businesses, and our vision to become the end-to-end platform that customers use to grow and run their business. See Note 12, " Segment Information ," for more information. On August 1, 2024, we reorganized certain technology and customer success functions in our Global Business Solutions, Consumer, and ProTax segments that support and benefit our overall platform and are managed at that level rather than at the segment level. As a result of these reorganizations, costs associated with these functions are no longer included in segment operating income and are now included in other corporate expenses. For the three months ended October 31, 2023, we reclassified expenses totaling $332 million from Global Business Solutions , $65 million from Consumer, and $8 million from ProTax to other corporate expenses, respectively, to conform to the current presentation. See Note 12, " Segment Information ," for more information. These unaudited condensed consolidated financial statements and accompanying notes should be read together with the audited consolidated financial statements in Part II, Item 8 of our Annual Report on Form 10-K for the fiscal year ended July 31, 2024. Results for the three months ended October 31, 2024 are not necessarily indicative of the results we expect for the fiscal year ending July 31, 2025 or any other future period.
Seasonality	Seasonality
Use of Estimates	Use of Estimates In preparing our condensed 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 held for investment, 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, the fair value of assets acquired and liabilities assumed for business combinations, and the fair value of notes receivable held for sale. We also use estimates in determining the remaining economic lives and fair values of acquired intangible assets, property and equipment, and other long-lived assets. In addition, we use assumptions to estimate the fair value of reporting units and share-based compensation. Despite our intention to establish accurate estimates and use reasonable assumptions, actual results may differ from our estimates.
Computation of Net Income Per Share	Computation of Net Income Per Share We compute basic net income or loss per share using the weighted-average number of common shares outstanding during the period. We compute diluted net income per share using the weighted-average number of common shares and dilutive potential common shares outstanding during the period. Dilutive potential common shares consist of the shares issuable upon the exercise of stock options and upon the vesting of restricted stock units (RSUs) under the treasury stock method. We include stock options with combined exercise prices and unrecognized compensation expense that are less than the average market price for our common stock, and RSUs with unrecognized compensation expense that is less than the average market price for our common stock, in the calculation of diluted net income per share. We exclude stock options with combined exercise prices and unrecognized compensation expense that are greater than the average market price for our common stock, and RSUs with unrecognized compensation expense that is greater than the average market price for our common stock, from the calculation of diluted net income per share because their effect is anti-dilutive. Under the treasury stock method, the amount that must be paid to exercise stock options and the amount of compensation expense for future service that we have not yet recognized for stock options and RSUs are assumed to be used to repurchase shares. Dividend rights apply to all RSUs that we grant and are accumulated and paid when the underlying RSUs vest. Since the dividend rights are subject to the same vesting requirements as the underlying equity awards, they are considered a contingent transfer of value. Consequently, the RSUs are not considered participating securities, and we do not present them separately in earnings per share. In loss periods, basic net loss per share and diluted net loss per share are the same since the effect of potential common shares is anti-dilutive and therefore excluded.
Deferred Revenue	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 three months ended October 31, 2024, we recognized revenue of $524 million that was included in deferred revenue at July 31, 2024. During the three months ended October 31, 2023, we recognized revenue of $638 million that was included in deferred revenue at July 31, 2023. Our performance obligations are generally satisfied within 12 months of the initial contract date. As of October 31, 2024 and July 31, 2024, the deferred revenue balance related to performance obligations that will be satisfied after 12 months was $3 million and $4 million, respectively, and is included in other long-term obligations on our condensed consolidated balance sheets.
Concentration of Credit Risk and Significant Customers	Concentration of Credit Risk and Significant Customers No customer accounted for 10% or more of total net revenue in the three months ended October 31, 2024 or October 31, 2023. No customer accounted for 10% or more of gross accounts receivable at October 31, 2024 or July 31, 2024.
Accounting Standards Not Yet Adopted	Accounting Standards Not Yet Adopted Segment Information - In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. " This standard requires incremental segment information disclosures, including disclosures of significant segment expenses that are regularly provided to the chief operating decision maker (CODM), a description of other segment items by reportable segment, and any additional measures of a segment's profit or loss used by the CODM when deciding how to allocate resources. The standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, which means that it will be effective for our annual reporting for the fiscal year ending July 31, 2025 and for interim period reporting beginning in fiscal 2026. Early adoption is permitted, and retrospective adoption is required for all prior periods presented. We are currently evaluating the impact of our pending adoption of ASU 2023-07 on our consolidated financial statements and related disclosures. Income Tax - In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures. " This standard requires additional disclosures related to the income tax rate reconciliation, income taxes paid by jurisdiction, and other income tax-related disclosures. The standard is effective for fiscal years beginning after December 15, 2024, which means that it will be effective for us for the fiscal year ending July 31, 2026. Early adoption is permitted on either a prospective or retrospective basis. We are currently evaluating the impact of adopting ASU 2023-09 on our consolidated financial statements and related disclosures. Income Statement - Expense Disaggregation - In November 2024, the FASB issued ASU 2024-03, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures. " This standard requires entities to disaggregate operating expenses into specific categories such as employee compensation, depreciation, and intangible asset amortization, by relevant expense caption on the statement of operations. The standard is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, which means that it will be effective for our annual reporting for the fiscal year ending July 31, 2028 and for interim period reporting beginning in fiscal 2029. Early adoption is permitted on either a prospective or retrospective basis. We are currently evaluating the impact of adopting ASU 2024-03 on our consolidated financial statements and related disclosures.
Fair Value Hierarchy	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

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Oct. 31, 2024
Accounting Policies [Abstract]
Schedule of Basic And Diluted Net Income Per Share	The following table presents the composition of shares used in the computation of basic and diluted net income per share for the periods indicated. Three Months Ended (In millions, except per share amounts) October 31, October 31, Numerator: Net income $ 197 $ 241 Denominator: Shares used in basic per share amounts: Weighted-average common shares outstanding 280 280 Shares used in diluted per share amounts: Weighted-average common shares outstanding 280 280 Dilutive common equivalent shares from stock options and restricted awards 3 3 Dilutive weighted-average common shares outstanding 283 283 Basic and diluted net income per share: Basic net income per share $ 0.70 $ 0.86 Diluted net income per share $ 0.70 $ 0.85 Shares excluded from diluted net income per share: Weighted-average stock options and restricted stock units that have been excluded from dilutive common equivalent shares outstanding due to their anti-dilutive effect — 1

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Oct. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of 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. October 31, 2024 July 31, 2024 (In millions) Level 1 Level 2 Total Level 1 Level 2 Total Assets: Cash equivalents, primarily money market funds $ 1,832 $ — $ 1,832 $ 2,538 $ — $ 2,538 Available-for-sale debt securities: Corporate notes — 488 488 — 456 456 U.S. agency securities — 148 148 — 159 159 Total available-for-sale debt securities — 636 636 — 615 615 Total assets measured at fair value on a recurring basis $ 1,832 $ 636 $ 2,468 $ 2,538 $ 615 $ 3,153
Schedule of Cash Equivalents And Available-for-sale Debt And Equity Securities	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. October 31, 2024 July 31, 2024 (In millions) Level 1 Level 2 Total Level 1 Level 2 Total Cash equivalents: In cash and cash equivalents $ 1,832 $ — $ 1,832 $ 2,538 $ — $ 2,538 Available-for-sale debt securities: In investments $ — $ 486 $ 486 $ — $ 465 $ 465 In funds receivable and amounts held for customers — 150 150 — 150 150 Total available-for-sale debt securities $ — $ 636 $ 636 $ — $ 615 $ 615

Cash and Cash Equivalents, In_2

Cash and Cash Equivalents, Investments, and Funds Receivable and Amounts Held for Customers (Tables)	3 Months Ended
	Oct. 31, 2024
Cash And Cash Equivalents, Investments, And Funds Receivable And Amounts Held For Customers [Abstract]
Schedule of Classification on Balance Sheets	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. October 31, 2024 July 31, 2024 (In millions) Amortized Fair Value Amortized Fair Value Classification on condensed consolidated balance sheets: Cash and cash equivalents $ 2,872 $ 2,872 $ 3,609 $ 3,609 Investments 486 486 465 465 Funds receivable and amounts held for customers 5,606 5,606 3,921 3,921 Total cash and cash equivalents, investments, and funds receivable and amounts held for customers $ 8,964 $ 8,964 $ 7,995 $ 7,995
Schedule of Investment Category Type of Issue	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 October 31, 2024 and July 31, 2024, this excludes $294 million and $281 million, respectively, of funds receivable on our condensed consolidated balance sheets in funds receivable and amounts held for customers that were not measured and recorded at fair value. October 31, 2024 July 31, 2024 (In millions) Amortized Fair Value Amortized Fair Value Type of issue: Total cash, cash equivalents, restricted cash, $ 8,034 $ 8,034 $ 7,099 $ 7,099 Available-for-sale debt securities: Corporate notes 488 488 456 456 U.S. agency securities 148 148 159 159 Total available-for-sale debt securities 636 636 615 615 Total cash, cash equivalents, restricted cash, restricted cash equivalents, and investments $ 8,670 $ 8,670 $ 7,714 $ 7,714
Schedule of 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. October 31, 2024 July 31, 2024 (In millions) Amortized Fair Value Amortized Fair Value Due within one year $ 541 $ 541 $ 517 $ 516 Due within two years 40 40 55 56 Due within three years 55 55 43 43 Due after three years — — — — Total available-for-sale debt securities $ 636 $ 636 $ 615 $ 615
Schedule of Funds Held for Customers	The following table summarizes our funds receivable and amounts held for customers by asset category at the dates indicated. (In millions) October 31, 2024 July 31, Restricted cash and restricted cash equivalents $ 5,162 $ 3,490 Restricted available-for-sale debt securities and funds receivable 444 431 Total funds receivable and amounts held for customers $ 5,606 $ 3,921 (In millions) October 31, 2023 July 31, Restricted cash and restricted cash equivalents $ 2,063 $ 4 Restricted available-for-sale debt securities and funds receivable 462 416 Total funds receivable and amounts held for customers $ 2,525 $ 420

Acquired Intangible Assets (Tab

Acquired Intangible Assets (Tables)	3 Months Ended
	Oct. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule Of Intangible Assets Acquired	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 Purchased Trade Total At October 31, 2024: Cost $ 6,195 $ 1,648 $ 680 $ 8,523 Accumulated amortization (1,712) (942) (207) (2,861) Acquired intangible assets, net $ 4,483 $ 706 $ 473 $ 5,662 Weighted-average life in years 14 8 13 13 At July 31, 2024: Cost $ 6,196 $ 1,648 $ 680 $ 8,524 Accumulated amortization (1,605) (905) (194) (2,704) Acquired intangible assets, net $ 4,591 $ 743 $ 486 $ 5,820 Weighted-average life in years 14 8 13 13
Schedule Of Future Amortization Expense	The following table shows the expected future amortization expense for our acquired intangible assets at October 31, 2024. Amortization of purchased technology is charged to amortization of acquired technology in our condensed 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 condensed consolidated statements of operations. If impairment events occur, they could accelerate the timing of acquired intangible asset charges. (In millions) Expected Fiscal year ending July 31, 2025 (excluding the three months ended October 31, 2024) $ 472 2026 627 2027 602 2028 586 2029 581 Thereafter 2,794 Total expected future amortization expense $ 5,662

Debt (Tables)

Debt (Tables)	3 Months Ended
	Oct. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt	The carrying value of our debt was as follows at the dates indicated: (Dollars in millions) October 31, July 31, Effective Senior unsecured notes issued June 2020: 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% Senior unsecured notes issued September 2023: 5.250% notes due September 2026 750 750 5.325% 5.125% notes due September 2028 750 750 5.258% 5.200% notes due September 2033 1,250 1,250 5.312% 5.500% notes due September 2053 1,250 1,250 5.576% Secured revolving credit facilities 670 585 Total principal balance of debt 6,170 6,085 Unamortized discount and debt issuance costs (46) (47) Net carrying value of debt $ 6,124 $ 6,038 Short-term debt $ 499 $ 499 Long-term debt $ 5,625 $ 5,539
Schedule of Maturities of Long-Term Debt	Future principal payments for debt at October 31, 2024 were as shown in the table below. (In millions) Future Principal Payments Fiscal year ending July 31, 2025 (excluding the three months ended October 31, 2024) $ 500 2026 — 2027 1,550 2028 — 2029 1,120 Thereafter 3,000 Total future principal payments for debt $ 6,170

Other Liabilities and Commitm_2

Other Liabilities and Commitments (Tables)	3 Months Ended
	Oct. 31, 2024
Other Liabilities Disclosure [Abstract]
Schedule of Other Current Liabilities	Other current liabilities were as follows at the dates indicated: (In millions) October 31, July 31, Executive deferred compensation plan liabilities $ 229 $ 207 Current portion of operating lease liabilities 65 71 Sales, property, and other taxes 52 47 Reserve for returns, credits, and promotional discounts 37 40 Interest payable 37 84 Other 116 100 Total other current liabilities $ 536 $ 549
Schedule of Other Long-term Obligations	Other long-term obligations were as follows at the dates indicated: (In millions) October 31, July 31, Income tax liabilities $ 159 $ 157 Dividends payable 18 19 Deferred income tax liabilities 11 3 Deferred revenue 3 4 Other 30 25 Total other long-term obligations $ 221 $ 208

Leases (Tables)

Leases (Tables)	3 Months Ended
	Oct. 31, 2024
Leases [Abstract]
Schedule of Components of Lease Expense	The components of lease expense were as follows: Three Months Ended (In millions) October 31, October 31, Operating lease cost (1) $ 29 $ 26 Variable lease cost 5 6 Sublease income (3) (3) Total net lease cost $ 31 $ 29 (1) Includes short-term leases, which were not material for each of the three months ended October 31, 2024 and 2023. Supplemental cash flow information related to operating leases was as follows: Three Months Ended (In millions) October 31, October 31, Cash paid for amounts included in the measurement of operating lease liabilities $ 27 $ 25 Right-of-use assets obtained in exchange for operating lease liabilities $ 150 $ 14 Other information related to operating leases was as follows at the dates indicated: October 31, July 31, Weighted-average remaining lease term for operating leases 8.3 years 7.7 years Weighted-average discount rate for operating leases 3.7 % 3.3 % Supplemental balance sheet information related to operating leases was as follows at the dates indicated: (In millions) October 31, July 31, Operating lease right-of-use assets $ 538 $ 411 Other current liabilities $ 65 $ 71 Operating lease liabilities 592 458 Total operating lease liabilities $ 657 $ 529
Schedule of Future Payments	Future minimum lease payments under non-cancellable operating leases as of October 31, 2024 were as follows: (In millions) Operating Leases (1) Fiscal year ending July 31, 2025 (excluding the three months ended October 31, 2024) $ 59 2026 97 2027 95 2028 88 2029 91 Thereafter 347 Total future minimum lease payments 777 Less imputed interest (120) Present value of lease liabilities $ 657 (1) Non-cancellable sublease proceeds for the remainder of the fiscal year ending July 31, 2025 and the fiscal years ending July 31, 2026, 2027, 2028, 2029, and thereafter of $4 million, $3 million, $3 million, $2 million, $2 million, and $2 million, respectively, are not included in the table above.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Oct. 31, 2024
Equity [Abstract]
Schedule of 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. Three Months Ended (In millions) October 31, October 31, Cost of revenue $ 111 $ 101 Selling and marketing 137 123 Research and development 161 161 General and administrative 102 110 Total share-based compensation expense $ 511 $ 495
Schedule of Share-based Awards Available For Grant	A summary of share-based awards available for grant under our plans for the three months ended October 31, 2024 was as follows: (Shares in thousands) Shares Balance at July 31, 2024 27,317 Restricted stock units granted (1) (906) Options granted — Share-based awards canceled/forfeited/expired (1) (2) 2,622 Balance at October 31, 2024 29,033 (1) RSUs granted from the pool of shares available for grant under our 2005 Equity Incentive Plan reduce the pool by 2.3 shares for each share granted. RSUs forfeited and returned to the pool of shares available for grant under the 2005 Equity Incentive Plan increase the pool by 2.3 shares for each share forfeited. (2) Stock options and RSUs canceled, expired, or forfeited under our 2005 Equity Incentive Plan are returned to the pool of shares available for grant. Under the 2005 Equity Incentive 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.
Schedule of Restricted Stock Unit Activity	A summary of RSU and restricted stock activity for the three months ended October 31, 2024 was as follows: (Shares in thousands) Number Weighted- Average Grant Date Fair Value Nonvested at July 31, 2024 10,924 $ 496.64 Granted 394 636.48 Vested (895) 483.74 Forfeited (746) 416.46 Nonvested at October 31, 2024 9,677 $ 509.71
Schedule of Stock Option Activity	A summary of stock option activity for the three months ended October 31, 2024 was as follows: Options Outstanding (Shares in thousands) Number Weighted- Average Exercise Price Per Share Balance at July 31, 2024 1,772 $ 449.66 Granted — — Exercised (122) 370.42 Canceled or expired (19) 486.49 Balance at October 31, 2024 1,631 $ 455.16 Exercisable at October 31, 2024 880 $ 379.88

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Oct. 31, 2024
Segment Reporting [Abstract]
Schedule of Financial Results by Reportable Segment	The following table shows our financial results by reportable segment for the periods indicated. Three Months Ended (In millions) October 31, October 31, Net revenue: Global Business Solutions $ 2,544 $ 2,344 Consumer 176 187 Credit Karma 524 405 ProTax 39 42 Total net revenue $ 3,283 $ 2,978 Operating income: Global Business Solutions $ 1,999 $ 1,824 Consumer 76 132 Credit Karma 180 106 ProTax 20 22 Total segment operating income 2,275 2,084 Unallocated corporate items: Share-based compensation expense (511) (495) Other corporate expenses (1,327) (1,124) Amortization of acquired technology (37) (38) Amortization of other acquired intangible assets (120) (120) Restructuring (9) — Total unallocated corporate items (2,004) (1,777) Total operating income $ 271 $ 307
Schedule of Disaggregation of Revenue	Revenue classified by significant service and product offerings was as follows: Three Months Ended (In millions) October 31, October 31, Net revenue: QuickBooks Online Accounting $ 965 $ 798 Online Services 978 820 Total Online Ecosystem 1,943 1,618 QuickBooks Desktop Accounting 296 376 Desktop Services and Supplies 305 350 Total Desktop Ecosystem 601 726 Global Business Solutions 2,544 2,344 Consumer 176 187 Credit Karma 524 405 ProTax 39 42 Total net revenue $ 3,283 $ 2,978

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Oct. 31, 2024
Restructuring and Related Activities [Abstract]
Summary of Activity of the Restructuring Plan by Segment	The following table summarizes the activity for the Plan. (In millions) Accrued July 31, 2024 Additional Costs/ Adjustments Cash Payments Non-Cash Items Accrued October 31, 2024 Total Costs Incurred to Date Total Expected Plan Cost Global Business Solutions $ 84 $ 2 $ (78) $ — $ 8 $ 98 $ 100 Consumer 9 — (9) — — 9 9 Credit Karma — — — — — — — ProTax 2 — (2) — — 2 2 Corporate (1) 92 7 (85) (5) 9 123 126 Totals $ 187 $ 9 $ (174) $ (5) $ 17 $ 232 $ 237 (1)

Description of Business and S_4

Description of Business and Summary of Significant Accounting Policies - Schedule of Basic And Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Numerator:
Net income	$ 197	$ 241
Shares used in basic per share amounts:
Weighted-average common shares outstanding (in shares)	280	280
Shares used in diluted per share amounts:
Weighted-average common shares outstanding (in shares)	280	280
Dilutive common equivalent shares from stock options and restricted awards (in shares)	3	3
Dilutive weighted-average common shares outstanding (in shares)	283	283
Basic and diluted net income per share:
Basic net income per share (in dollars per share)	$ 0.70	$ 0.86
Diluted net income per share (in dollars per share)	$ 0.70	$ 0.85
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 (in shares)	0	1

Description of Business and S_5

Description of Business and Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Jul. 31, 2024
Segment Reporting Information [Line Items]
Revenue recognized	$ 524	$ 638
Description of timing	12 months
Deferred revenue	$ 3		$ 4
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment
Segment Reporting Information [Line Items]
Other corporate expenses	$ 1,327	1,124
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment | Reorganization of Certain Workplace and Real Estate Functions
Segment Reporting Information [Line Items]
Other corporate expenses		332
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment | Reorganization of Certain Technology Functions
Segment Reporting Information [Line Items]
Other corporate expenses		65
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment | Reorganization of Certain Technology Functions
Segment Reporting Information [Line Items]
Other corporate expenses		8
Global Business Solutions | Operating Segments | Reorganization of Certain Workplace and Real Estate Functions
Segment Reporting Information [Line Items]
Other corporate expenses		332
Consumer | Operating Segments | Reorganization of Certain Technology Functions
Segment Reporting Information [Line Items]
Other corporate expenses		65
ProTax | Operating Segments | Reorganization of Certain Technology Functions
Segment Reporting Information [Line Items]
Other corporate expenses		$ 8

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Assets And Liabilities Measured At Fair Value On Recurring Basis (Details) - USD ($) $ in Millions	Oct. 31, 2024	Jul. 31, 2024
Assets:
Cash equivalents, primarily money market funds	$ 2,872	$ 3,609
Available-for-sale debt securities, fair value	636	615
Fair value, measurements, recurring
Assets:
Cash equivalents, primarily money market funds	1,832	2,538
Available-for-sale debt securities, fair value	636	615
Total assets measured at fair value on a recurring basis	2,468	3,153
Fair value, measurements, recurring | Level 1
Assets:
Cash equivalents, primarily money market funds	1,832	2,538
Available-for-sale debt securities, fair value	0	0
Total assets measured at fair value on a recurring basis	1,832	2,538
Fair value, measurements, recurring | Level 2
Assets:
Cash equivalents, primarily money market funds	0	0
Available-for-sale debt securities, fair value	636	615
Total assets measured at fair value on a recurring basis	636	615
Fair value, measurements, recurring | Corporate notes
Assets:
Available-for-sale debt securities, fair value	488	456
Fair value, measurements, recurring | Corporate notes | Level 1
Assets:
Available-for-sale debt securities, fair value	0	0
Fair value, measurements, recurring | Corporate notes | Level 2
Assets:
Available-for-sale debt securities, fair value	488	456
Fair value, measurements, recurring | U.S. agency securities
Assets:
Available-for-sale debt securities, fair value	148	159
Fair value, measurements, recurring | U.S. agency securities | Level 1
Assets:
Available-for-sale debt securities, fair value	0	0
Fair value, measurements, recurring | U.S. agency securities | Level 2
Assets:
Available-for-sale debt securities, fair value	$ 148	$ 159

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Cash Equivalents And Available-for-sale Debt And Equity Securities (Details) - USD ($) $ in Millions	Oct. 31, 2024	Jul. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	$ 2,872	$ 3,609
Total available-for-sale debt securities	636	615
Fair value, measurements, recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	1,832	2,538
Total available-for-sale debt securities	636	615
Fair value, measurements, recurring | In cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	1,832	2,538
Fair value, measurements, recurring | In investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total available-for-sale debt securities	486	465
Fair value, measurements, recurring | In funds receivable and amounts held for customers
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total available-for-sale debt securities	150	150
Fair value, measurements, recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	1,832	2,538
Total available-for-sale debt securities	0	0
Fair value, measurements, recurring | Level 1 | In cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	1,832	2,538
Fair value, measurements, recurring | Level 1 | In investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total available-for-sale debt securities	0	0
Fair value, measurements, recurring | Level 1 | In funds receivable and amounts held for customers
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total available-for-sale debt securities	0	0
Fair value, measurements, recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	0	0
Total available-for-sale debt securities	636	615
Fair value, measurements, recurring | Level 2 | In cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	0	0
Fair value, measurements, recurring | Level 2 | In investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total available-for-sale debt securities	486	465
Fair value, measurements, recurring | Level 2 | In funds receivable and amounts held for customers
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total available-for-sale debt securities	$ 150	$ 150

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($)	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Jul. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	$ 6,124,000,000		$ 6,038,000,000
Long-term investments	90,000,000		131,000,000
Senior unsecured notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	5,500,000,000		5,500,000,000
Senior unsecured notes | Fair value, measurements, recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior unsecured notes	5,500,000,000		$ 5,500,000,000
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Upward adjustments to non-marketable equity securities	0	$ 0
Downward adjustments to non-marketable equity securities	42,000,000	$ 0
Cumulative upward adjustments to non-marketable equity securities	75,000,000
Cumulative downward adjustments to non-marketable equity securities	$ 55,000,000

Cash and Cash Equivalents, In_3

Cash and Cash Equivalents, Investments, and Funds Receivable and Amounts Held for Customers - Schedule of Classification on Balance Sheets (Details) - USD ($) $ in Millions	Oct. 31, 2024	Jul. 31, 2024	Oct. 31, 2023	Jul. 31, 2023
Amortized Cost
Cash and cash equivalents	$ 2,872	$ 3,609	$ 1,734
Investments	486	465
Funds receivable and amounts held for customers	5,606	3,921
Total cash and cash equivalents, investments, and funds receivable and amounts held for customers	8,964	7,995
Fair Value
Cash and cash equivalents	2,872	3,609
Investments	486	465
Funds receivable and amounts held for customers	5,606	3,921	$ 2,525	$ 420
Total cash and cash equivalents, investments, and funds receivable and amounts held for customers	$ 8,964	$ 7,995

Cash and Cash Equivalents, In_4

Cash and Cash Equivalents, Investments, and Funds Receivable and Amounts Held for Customers - Schedule of Investment Category Type of Issue (Details) - USD ($)	Oct. 31, 2024	Jul. 31, 2024	Oct. 31, 2023	Jul. 31, 2023
Cash and Cash Equivalents Items [Line Items]
Funds receivable and funds held for customers not measured or recorded at fair value	$ 294,000,000	$ 281,000,000
Total cash, cash equivalents, restricted cash, and restricted cash equivalents	8,034,000,000	7,099,000,000	$ 3,797,000,000	$ 2,852,000,000
Available-for-sale debt securities:
Available-for-sale debt securities, amortized cost	636,000,000	615,000,000
Available-for-sale debt securities, fair value	636,000,000	615,000,000
Total cash, cash equivalents, restricted cash, restricted cash equivalents, and investments	8,670,000,000	7,714,000,000
Total cash, cash equivalents, restricted cash, restricted cash equivalents, and investments	8,670,000,000	7,714,000,000
Credit losses related to available-for-sale securities	0
Total cash, cash equivalents, restricted cash, and restricted cash equivalents
Cash and Cash Equivalents Items [Line Items]
Total cash, cash equivalents, restricted cash, and restricted cash equivalents	8,034,000,000	7,099,000,000
Total cash, cash equivalents, restricted cash, and restricted cash equivalents	8,034,000,000	7,099,000,000
Corporate notes
Available-for-sale debt securities:
Available-for-sale debt securities, amortized cost	488,000,000	456,000,000
Available-for-sale debt securities, fair value	488,000,000	456,000,000
U.S. agency securities
Available-for-sale debt securities:
Available-for-sale debt securities, amortized cost	148,000,000	159,000,000
Available-for-sale debt securities, fair value	$ 148,000,000	$ 159,000,000

Cash and Cash Equivalents, In_5

Cash and Cash Equivalents, Investments, and Funds Receivable and Amounts Held for Customers - Schedule of the Stated Maturity Date of the Security (Details) - USD ($) $ in Millions	Oct. 31, 2024	Jul. 31, 2024
Amortized Cost
Due within one year	$ 541	$ 517
Due within two years	40	55
Due within three years	55	43
Due after three years	0	0
Total available-for-sale debt securities	636	615
Fair Value
Due within one year	541	516
Due within two years	40	56
Due within three years	55	43
Due after three years	0	0
Total available-for-sale debt securities	$ 636	$ 615

Cash and Cash Equivalents, In_6

Cash and Cash Equivalents, Investments, and Funds Receivable and Amounts Held for Customers - Schedule of Funds Held for Customers (Details) - USD ($) $ in Millions	Oct. 31, 2024	Jul. 31, 2024	Oct. 31, 2023	Jul. 31, 2023
Cash And Cash Equivalents, Investments, And Funds Receivable And Amounts Held For Customers [Abstract]
Restricted cash and restricted cash equivalents	$ 5,162	$ 3,490	$ 2,063	$ 4
Restricted available-for-sale debt securities and funds receivable	444	431	462	416
Total funds receivable and amounts held for customers	$ 5,606	$ 3,921	$ 2,525	$ 420

Notes Receivable and Allowanc_2

Notes Receivable and Allowances for Credit Losses (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Jul. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans purchased from originating bank partner, principal balance	$ 650	$ 279
Commitment to purchase, amount originated before period end	$ 22
Period of suspended accrued interest past due	120 days
Period past due considered delinquent	1 day
Minimum commitment to sell participation interest in unsecured term loans, cumulatively	$ 350
Notes receivable, remaining amount held for sale	248
Notes receivable held for sale	10		$ 3
Loans sold	106	$ 35
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Minimum commitment to sell participation interest in unsecured term loans, monthly	$ 8
Term of commitment	4 years
Small Business Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, net	$ 1,000		$ 912

Acquired Intangible Assets - Sc

Acquired Intangible Assets - Schedule Of Intangible Assets Acquired (Details) - USD ($) $ in Millions	Oct. 31, 2024	Jul. 31, 2024
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	$ 8,523	$ 8,524
Accumulated amortization	(2,861)	(2,704)
Acquired intangible assets, net	$ 5,662	$ 5,820
Weighted-average life in years	13 years	13 years
Customer Lists / User Relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	$ 6,195	$ 6,196
Accumulated amortization	(1,712)	(1,605)
Acquired intangible assets, net	$ 4,483	$ 4,591
Weighted-average life in years	14 years	14 years
Purchased Technology
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	$ 1,648	$ 1,648
Accumulated amortization	(942)	(905)
Acquired intangible assets, net	$ 706	$ 743
Weighted-average life in years	8 years	8 years
Trade Names and Logos
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	$ 680	$ 680
Accumulated amortization	(207)	(194)
Acquired intangible assets, net	$ 473	$ 486
Weighted-average life in years	13 years	13 years

Acquired Intangible Assets - _2

Acquired Intangible Assets - Schedule Of Future Amortization Expense (Details) - USD ($) $ in Millions	Oct. 31, 2024	Jul. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
2025 (excluding the three months ended October 31, 2024)	$ 472
2026	627
2027	602
2028	586
2029	581
Thereafter	2,794
Acquired intangible assets, net	$ 5,662	$ 5,820

Debt - Schedule of Long-term De

Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Millions	Oct. 31, 2024	Jul. 31, 2024
Debt Instrument [Line Items]
Total principal balance of debt	$ 6,170	$ 6,085
Unamortized discount and debt issuance costs	(46)	(47)
Net carrying value of debt	6,124	6,038
Short-term debt	499	499
Long-term debt	5,625	5,539
Line of Credit | Revolving Credit Facility | Subsidiary
Debt Instrument [Line Items]
Secured revolving credit facilities	670	585
0.950% notes due July 2025 | Senior Unsecured Notes
Debt Instrument [Line Items]
Total principal balance of debt	$ 500	500
Effective Interest Rate	1.127%
Stated interest rate (in percent)	0.95%
1.350% notes due July 2027 | Senior Unsecured Notes
Debt Instrument [Line Items]
Total principal balance of debt	$ 500	500
Effective Interest Rate	1.486%
Stated interest rate (in percent)	1.35%
1.650% notes due July 2030 | Senior Unsecured Notes
Debt Instrument [Line Items]
Total principal balance of debt	$ 500	500
Effective Interest Rate	1.767%
Stated interest rate (in percent)	1.65%
5.250% notes due September 2026 | Senior Unsecured Notes
Debt Instrument [Line Items]
Total principal balance of debt	$ 750	750
Effective Interest Rate	5.325%
Stated interest rate (in percent)	5.25%
5.125% notes due September 2028 | Senior Unsecured Notes
Debt Instrument [Line Items]
Total principal balance of debt	$ 750	750
Effective Interest Rate	5.258%
Stated interest rate (in percent)	5.125%
5.200% notes due September 2033 | Senior Unsecured Notes
Debt Instrument [Line Items]
Total principal balance of debt	$ 1,250	1,250
Effective Interest Rate	5.312%
Stated interest rate (in percent)	5.20%
5.500% notes due September 2053 | Senior Unsecured Notes
Debt Instrument [Line Items]
Total principal balance of debt	$ 1,250	$ 1,250
Effective Interest Rate	5.576%
Stated interest rate (in percent)	5.50%

Debt - Schedule of Maturities o

Debt - Schedule of Maturities of Long-Term Debt (Details) - USD ($) $ in Millions	Oct. 31, 2024	Jul. 31, 2024
Debt Disclosure [Abstract]
2025 (excluding the three months ended October 31, 2024)	$ 500
2026	0
2027	1,550
2028	0
2029	1,120
Thereafter	3,000
Total future principal payments for debt	$ 6,170	$ 6,085

Debt - Narrative (Details)

Debt - Narrative (Details)				1 Months Ended			3 Months Ended
	Sep. 05, 2024 USD ($)	Apr. 30, 2024 USD ($)	Feb. 05, 2024 USD ($)	Jun. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Jun. 30, 2020 USD ($)	Oct. 31, 2024 USD ($)	Oct. 31, 2023 USD ($)	Jul. 31, 2024 USD ($)
Debt Instrument [Line Items]
Net carrying value of debt							$ 6,124,000,000		$ 6,038,000,000
Line of Credit | Revolving Credit Facility | Subsidiary
Debt Instrument [Line Items]
Secured revolving credit facilities							670,000,000		585,000,000
The Senior Unsecured Notes | Senior Unsecured Notes
Debt Instrument [Line Items]
Proceeds from issuance						$ 1,980,000,000
Unamortized discount						2,000,000
Debt issuance costs						$ 15,000,000
Net carrying value of debt							1,500,000,000
Interest paid							0	$ 0
Redemption price (in percent)						101%
The 2023 Senior Unsecured Notes | Senior Unsecured Notes
Debt Instrument [Line Items]
Proceeds from issuance					$ 3,960,000,000
Unamortized discount					20,000,000
Debt issuance costs					$ 24,000,000
Net carrying value of debt							4,000,000,000
Interest paid							106,000,000	0
2024 Credit Facility | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Net carrying value of debt							0
Interest paid							0
Line of credit, maximum borrowing capacity			$ 1,500,000,000
Option to increase credit amount			$ 1,000,000,000
Term of option to extend credit agreement			1 year
Restrictive covenant, ratio of total gross debt to EBIDTA			4
2024 Credit Facility | Line of Credit | Revolving Credit Facility | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate			0%
2024 Credit Facility | Line of Credit | Revolving Credit Facility | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate			0.125%
2024 Credit Facility | Line of Credit | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate			0.70%
2024 Credit Facility | Line of Credit | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate			1.125%
2024 Credit Facility | Line of Credit | Revolving Credit Facility | Interest Benchmark For Relevant Currency | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate			0.70%
2024 Credit Facility | Line of Credit | Revolving Credit Facility | Interest Benchmark For Relevant Currency | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate			1.125%
2024 Credit Facility | Line of Credit | Swingline Loans
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity			$ 500,000,000
2024 Credit Facility | Line of Credit | Letter of Credit
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity			$ 250,000,000
Secured Revolving Credit Facility, 2019 | Line of Credit | Revolving Credit Facility | Subsidiary
Debt Instrument [Line Items]
Interest paid							5,000,000	5,000,000
Line of credit, maximum borrowing capacity	$ 500,000,000
Line of credit, current borrowing capacity	300,000,000
Line of credit, remaining borrowing capacity	$ 200,000,000
Secured revolving credit facilities							$ 370,000,000
Interest rate at period end (in percent)							6.25%
Secured Revolving Credit Facility, 2019 | Line of Credit | Revolving Credit Facility | Subsidiary | Asset Pledged as Collateral
Debt Instrument [Line Items]
Secured amount							$ 1,300,000,000
Secured Revolving Credit Facility, 2019 | Line of Credit | Revolving Credit Facility | Minimum | Subsidiary
Debt Instrument [Line Items]
Interest rate on unused portion of line of credit (in percent)	0.25%
Secured Revolving Credit Facility, 2019 | Line of Credit | Revolving Credit Facility | Maximum | Subsidiary
Debt Instrument [Line Items]
Interest rate on unused portion of line of credit (in percent)	0.75%
Secured Revolving Credit Facility, 2019 | Line of Credit | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | Subsidiary
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%
Secured Revolving Credit Facility, 2022 | Line of Credit | Revolving Credit Facility | Subsidiary
Debt Instrument [Line Items]
Interest paid							5,000,000	$ 2,000,000
Line of credit, maximum borrowing capacity		$ 500,000,000
Line of credit, current borrowing capacity		300,000,000
Line of credit, remaining borrowing capacity		$ 200,000,000
Secured revolving credit facilities							$ 300,000,000
Interest rate at period end (in percent)							6.20%
Secured Revolving Credit Facility, 2022 | Line of Credit | Revolving Credit Facility | Subsidiary | Asset Pledged as Collateral
Debt Instrument [Line Items]
Secured amount							$ 881,000,000
Secured Revolving Credit Facility, 2022 | Line of Credit | Revolving Credit Facility | Minimum | Subsidiary
Debt Instrument [Line Items]
Interest rate on unused portion of line of credit (in percent)		0.20%
Secured Revolving Credit Facility, 2022 | Line of Credit | Revolving Credit Facility | Maximum | Subsidiary
Debt Instrument [Line Items]
Interest rate on unused portion of line of credit (in percent)		0.40%
Secured Revolving Credit Facility, 2022 | Line of Credit | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | Subsidiary
Debt Instrument [Line Items]
Basis spread on variable rate		1.30%
Commercial Paper Program | Line of Credit
Debt Instrument [Line Items]
Commercial paper							$ 0		$ 0
Commercial Paper Program | Line of Credit | Commercial Paper
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity				$ 1,500,000,000
Debt instrument, term				397 days

Other Liabilities and Commitm_3

Other Liabilities and Commitments - Schedule of Other Current Liabilities (Details) - USD ($) $ in Millions	Oct. 31, 2024	Jul. 31, 2024
Other Liabilities Disclosure [Abstract]
Executive deferred compensation plan liabilities	$ 229	$ 207
Current portion of operating lease liabilities	65	71
Sales, property, and other taxes	52	47
Reserve for returns, credits, and promotional discounts	37	40
Interest payable	37	84
Other	116	100
Total other current liabilities	$ 536	$ 549

Other Liabilities and Commitm_4

Other Liabilities and Commitments - Schedule of Other Long-term Obligations (Details) - USD ($) $ in Millions	Oct. 31, 2024	Jul. 31, 2024
Other Liabilities Disclosure [Abstract]
Income tax liabilities	$ 159	$ 157
Dividends payable	18	19
Deferred income tax liabilities	11	3
Deferred revenue	3	4
Other	30	25
Total other long-term obligations	$ 221	$ 208

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	3 Months Ended
	Oct. 31, 2024 USD ($) option_to_extend
Lessee, Lease, Description [Line Items]
Number of options to extend | option_to_extend	1
Option to extend operating leases	7 years
Option to extend sublease	5 years
Term for leases not yet commenced	10 years
Operating Lease, Lease Not yet Commenced
Lessee, Lease, Description [Line Items]
Leases not yet commenced | $	$ 101
Maximum
Lessee, Lease, Description [Line Items]
Operating lease terms	17 years
Operating sublease terms	6 years

Leases - Schedule of Components

Leases - Schedule of Components of Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Leases [Abstract]
Operating lease cost	$ 29	$ 26
Variable lease cost	5	6
Sublease income	(3)	(3)
Total net lease cost	$ 31	$ 29

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 27	$ 25
Right-of-use assets obtained in exchange for operating lease liabilities	$ 150	$ 14

Leases - Other Lease Informatio

Leases - Other Lease Information (Details)	Oct. 31, 2024	Jul. 31, 2024
Leases [Abstract]
Weighted-average remaining lease term for operating leases	8 years 3 months 18 days	7 years 8 months 12 days
Weighted-average discount rate for operating leases	3.70%	3.30%

Leases - Schedule of Future Pay

Leases - Schedule of Future Payments (Details) - USD ($) $ in Millions	Oct. 31, 2024	Jul. 31, 2024
Operating Lease Maturity
2025 (excluding the three months ended October 31, 2024)	$ 59
2026	97
2027	95
2028	88
2029	91
Thereafter	347
Total future minimum lease payments	777
Less imputed interest	(120)
Present value of lease liabilities	657	$ 529
Sublease Income Maturity
Remainder of fiscal year 2025	4
2026	3
2027	3
2028	2
2029	2
Thereafter	$ 2

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet (Details) - USD ($) $ in Millions	Oct. 31, 2024	Jul. 31, 2024
Leases [Abstract]
Operating lease right-of-use assets	$ 538	$ 411
Other current liabilities	65	71
Operating lease liabilities	592	458
Total operating lease liabilities	$ 657	$ 529
Operating lease, liability, current, statement of financial position	Other Liabilities, Current	Other Liabilities, Current

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Jul. 31, 2024
Income Tax Disclosure [Abstract]
Tax shortfalls (benefits) on share-based compensation	$ (28)	$ (28)
Effective tax rate	8%	9%
Effective tax rate, excluding discrete tax benefits	24%	24%
Total amount of unrecognized tax benefits			$ 327
Favorable net impact to income tax expense due to recognition of tax benefits			210
Long-term liability for uncertain tax positions	$ 66		$ 66

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	1 Months Ended		3 Months Ended
	Nov. 30, 2024	Oct. 31, 2024	Oct. 31, 2024	Oct. 31, 2023	Aug. 20, 2024
Options Outstanding
Common stock repurchased (in shares)			915
Total stock repurchased, including amounts not included under repurchase plans		$ 12	$ 570
Stock repurchase program, remaining authorized repurchase amount		$ 4,300	$ 4,300		$ 3,000
Common stock, dividends, per share, cash paid (in dollars per share)			$ 1.04
Quarterly cash dividends declared			$ 295	$ 261
Cash dividends declared per common share (in dollars per share)			$ 1.04	$ 0.90
Subsequent Event
Options Outstanding
Cash dividends declared per common share (in dollars per share)	$ 1.04

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Total Share-based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Options Outstanding
Total share-based compensation expense	$ 511	$ 495
Cost of revenue
Options Outstanding
Total share-based compensation expense	111	101
Selling and marketing
Options Outstanding
Total share-based compensation expense	137	123
Research and development
Options Outstanding
Total share-based compensation expense	161	161
General and administrative
Options Outstanding
Total share-based compensation expense	$ 102	$ 110

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Share-based Awards Available For Grant (Details) shares in Thousands	3 Months Ended
	Oct. 31, 2024 shares
Shares Available for Grant
Shares available for grant, beginning balance (in shares)	27,317
Restricted stock units granted (in shares)	(906)
Options granted (in shares)	0
Share-based awards canceled/forfeited/expired (in shares)	2,622
Shares available for grant, ending balance (in shares)	29,033
Pool shares reduced for each share granted (in shares)	2.3
Pool shares increased for each share forfeited (in shares)	2.3

Stockholders' Equity - Schedu_3

Stockholders' Equity - Schedule of Restricted Stock Unit Activity (Details) - Restricted Stock Units and Restricted Stock $ / shares in Units, shares in Thousands, $ in Billions	3 Months Ended
	Oct. 31, 2024 USD ($) $ / shares shares
Number of Shares
Nonvested at beginning of period (in shares) | shares	10,924
Granted (in shares) | shares	394
Vested (in shares) | shares	(895)
Forfeited (in shares) | shares	(746)
Nonvested at end of period (in shares) | shares	9,677
Weighted- Average Grant Date Fair Value
Nonvested, weighted average grant date fair value, at beginning of period (in dollars per shares) | $ / shares	$ 496.64
Granted, weighted average grant date fair value (in dollars per shares) | $ / shares	636.48
Vested, weighted average grant date fair value (in dollars per shares) | $ / shares	483.74
Forfeited, weighted average grant date fair value (in dollars per shares) | $ / shares	416.46
Nonvested, weighted average grant date fair value, at end of period (in dollars per shares) | $ / shares	$ 509.71
Unrecognized compensation cost related to non-vested RSUs | $	$ 4.5
Weighted average vesting period, in years	2 years 10 months 24 days

Stockholders' Equity - Schedu_4

Stockholders' Equity - Schedule of Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Oct. 31, 2024 USD ($) $ / shares shares
Number of Shares
Options granted, number of shares (in shares)	0
Employee Stock Option
Number of Shares
Options outstanding, beginning balance (in shares)	1,772
Options granted, number of shares (in shares)	0
Options exercised, number of shares (in shares)	(122)
Options canceled or expired, number of shares (in shares)	(19)
Options outstanding, ending balance (in shares)	1,631
Exercisable (in shares)	880
Weighted- Average Exercise Price Per Share
Weighted average exercise price per share, beginning balance (in dollars per share) | $ / shares	$ 449.66
Options granted, weighted average exercise price per share (in dollars per share) | $ / shares	0
Options exercised, weighted average exercise price per share (in dollars per share) | $ / shares	370.42
Options canceled or expired, weighted average exercise price per share (in dollars per share) | $ / shares	486.49
Weighted average exercise price per share, ending balance (in dollars per share) | $ / shares	455.16
Exercisable, weighted average exercise price per share (in dollars per share) | $ / shares	$ 379.88
Unrecognized compensation cost related to non-vested share based compensation expense | $	$ 117
Expected weighted average vesting period to recognize compensation cost related to share based compensation expense, in years	3 years

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) $ in Millions	3 Months Ended
	Oct. 31, 2024 USD ($) segment	Oct. 31, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment	4
Operating Segments | Consumer | Reorganization of Certain Technology Functions
Segment Reporting Information [Line Items]
Other corporate expenses		$ 65
Operating Segments | ProTax | Reorganization of Certain Technology Functions
Segment Reporting Information [Line Items]
Other corporate expenses		8
Operating Segments | Global Business Solutions | Reorganization of Certain Workplace and Real Estate Functions
Segment Reporting Information [Line Items]
Other corporate expenses		332
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment
Segment Reporting Information [Line Items]
Other corporate expenses	$ 1,327	1,124
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment | Reorganization of Certain Workplace and Real Estate Functions
Segment Reporting Information [Line Items]
Other corporate expenses		332
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment | Reorganization of Certain Technology Functions
Segment Reporting Information [Line Items]
Other corporate expenses		65
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment | Reorganization of Certain Technology Functions
Segment Reporting Information [Line Items]
Other corporate expenses		$ 8
Non-US | Revenue Benchmark | Geographic Concentration Risk
Segment Reporting Information [Line Items]
International total net revenue as a percentage of total	10%	10%

Segment Information - Schedule

Segment Information - Schedule of Financial Results by Reportable Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Financial results by reportable segment
Net revenue:	$ 3,283	$ 2,978
Total operating income	271	307
Unallocated corporate items:
Amortization of acquired technology	(37)	(38)
Amortization of other acquired intangible assets	(120)	(120)
Restructuring	(9)	0
Operating Segments
Financial results by reportable segment
Total operating income	2,275	2,084
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment
Unallocated corporate items:
Share-based compensation expense	(511)	(495)
Other corporate expenses	(1,327)	(1,124)
Amortization of acquired technology	(37)	(38)
Amortization of other acquired intangible assets	(120)	(120)
Restructuring	(9)	0
Total unallocated corporate items	(2,004)	(1,777)
Global Business Solutions
Financial results by reportable segment
Net revenue:	2,544	2,344
Global Business Solutions | Operating Segments
Financial results by reportable segment
Net revenue:	2,544	2,344
Total operating income	1,999	1,824
Unallocated corporate items:
Restructuring	(2)
Consumer | Operating Segments
Financial results by reportable segment
Net revenue:	176	187
Total operating income	76	132
Unallocated corporate items:
Restructuring	0
Credit Karma | Operating Segments
Financial results by reportable segment
Net revenue:	524	405
Total operating income	180	106
ProTax | Operating Segments
Financial results by reportable segment
Net revenue:	39	42
Total operating income	20	$ 22
Unallocated corporate items:
Restructuring	$ 0

Segment Information - Schedul_2

Segment Information - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Revenue from External Customer [Line Items]
Total net revenue	$ 3,283	$ 2,978
Global Business Solutions
Revenue from External Customer [Line Items]
Total net revenue	2,544	2,344
Online Ecosystem Subsegment | Global Business Solutions
Revenue from External Customer [Line Items]
Total net revenue	1,943	1,618
Online Ecosystem Subsegment | Global Business Solutions | QuickBooks
Revenue from External Customer [Line Items]
Total net revenue	965	798
Online Ecosystem Subsegment | Global Business Solutions | Online Services
Revenue from External Customer [Line Items]
Total net revenue	978	820
Desktop Ecosystem Subsegment | Global Business Solutions
Revenue from External Customer [Line Items]
Total net revenue	601	726
Desktop Ecosystem Subsegment | Global Business Solutions | QuickBooks
Revenue from External Customer [Line Items]
Total net revenue	296	376
Desktop Ecosystem Subsegment | Global Business Solutions | Desktop Services and Supplies
Revenue from External Customer [Line Items]
Total net revenue	$ 305	$ 350

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Restructuring Cost and Reserve [Line Items]
Total expected plan cost	$ 237
Restructuring	9	$ 0
Severance, employee benefits and site closure costs
Restructuring Cost and Reserve [Line Items]
Restructuring	$ 9

Restructuring - Schedule of Act

Restructuring - Schedule of Activity for the Plan by Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Restructuring Reserve [Roll Forward]
Accrued July 31, 2024	$ 187
Additional Costs/ Adjustments	9	$ 0
Cash Payments	(174)
Non-Cash Items	(5)
Accrued October 31, 2024	17
Total Costs Incurred to Date	232
Total Expected Plan Cost	237
Operating Segments | Global Business Solutions
Restructuring Reserve [Roll Forward]
Accrued July 31, 2024	84
Additional Costs/ Adjustments	2
Cash Payments	(78)
Non-Cash Items	0
Accrued October 31, 2024	8
Total Costs Incurred to Date	98
Total Expected Plan Cost	100
Operating Segments | Consumer
Restructuring Reserve [Roll Forward]
Accrued July 31, 2024	9
Additional Costs/ Adjustments	0
Cash Payments	(9)
Non-Cash Items	0
Accrued October 31, 2024	0
Total Costs Incurred to Date	9
Total Expected Plan Cost	9
Operating Segments | Credit Karma
Restructuring Reserve [Roll Forward]
Accrued July 31, 2024	0
Additional Costs/ Adjustments	0
Cash Payments	0
Non-Cash Items	0
Accrued October 31, 2024	0
Total Costs Incurred to Date	0
Total Expected Plan Cost	0
Operating Segments | ProTax
Restructuring Reserve [Roll Forward]
Accrued July 31, 2024	2
Additional Costs/ Adjustments	0
Cash Payments	(2)
Non-Cash Items	0
Accrued October 31, 2024	0
Total Costs Incurred to Date	2
Total Expected Plan Cost	2
Corporate (1)
Restructuring Reserve [Roll Forward]
Accrued July 31, 2024	92
Additional Costs/ Adjustments	7
Cash Payments	(85)
Non-Cash Items	(5)
Accrued October 31, 2024	9
Total Costs Incurred to Date	123
Total Expected Plan Cost	$ 126

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent Event - Line of Credit - The 2024 Secured Facility - Revolving Credit Facility - Subsidiary $ in Millions	Nov. 01, 2024 USD ($)
Business Acquisition [Line Items]
Line of credit, maximum borrowing capacity	$ 300
Line of credit, current borrowing capacity	150
Line of credit, remaining borrowing capacity	$ 150
Basis spread on variable rate	1.15%
Minimum
Business Acquisition [Line Items]
Interest rate on unused portion of line of credit (in percent)	0.20%
Maximum
Business Acquisition [Line Items]
Interest rate on unused portion of line of credit (in percent)	0.40%