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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Jul. 31, 2015
Jul. 31, 2014
Jul. 31, 2013
Cash flows from operating activities:      
Net income $ 365 $ 907 $ 858
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 157 144 166
Amortization of acquired intangible assets 74 53 66
Goodwill and intangible asset impairment charges 297 0 46
Share-based compensation expense 257 204 195
Pre-tax gain on sale of discontinued operations [1] 0 (40) (53)
Net realized gain on sale of available-for-sale equity securities 0 (21) 0
Deferred income taxes (100) 93 13
Tax benefit from share-based compensation plans 85 82 69
Excess tax benefit from share-based compensation plans (85) (82) (69)
Other 4 24 19
Total adjustments 689 457 452
Changes in operating assets and liabilities:      
Accounts receivable 24 (5) 12
Income taxes receivable (49) 27 (9)
Prepaid expenses and other assets 22 (14) (33)
Accounts payable 35 15 4
Accrued compensation and related liabilities 24 43 8
Deferred revenue 398 15 62
Other liabilities (4) 1 12
Total changes in operating assets and liabilities 450 82 56
Net cash provided by operating activities 1,504 1,446 1,366
Cash flows from investing activities:      
Purchases of available-for-sale debt securities (939) (1,334) (869)
Sales of available-for-sale debt securities 620 346 333
Maturities of available-for-sale debt securities 475 567 228
Net change in money market funds and other cash equivalents held to satisfy customer fund obligations (49) (54) 55
Net change in customer fund deposits 49 54 (55)
Proceeds from the sale of available-for-sale equity securities 0 26 0
Purchases of property and equipment (142) (104) (129)
Capitalization of internal use software (119) (82) (66)
Acquisitions of businesses, net of cash acquired (95) (471) (17)
Proceeds from divestiture of businesses 0 1,025 60
Other 18 (22) (25)
Net cash used in investing activities (182) (49) (485)
Cash flows from financing activities:      
Net proceeds from issuance of stock under employee stock plans 107 165 165
Cash paid for purchases of treasury stock (1,245) (1,577) (292)
Dividends and dividend rights paid (283) (220) (203)
Excess tax benefit from share-based compensation plans 85 82 69
Other (1) (1) (1)
Net cash used in financing activities (1,337) (1,551) (262)
Effect of exchange rates on cash and cash equivalents (26) (6) (3)
Net increase (decrease) in cash and cash equivalents (41) (160) 616
Cash and cash equivalents at beginning of period 849 1,009 393
Cash and cash equivalents at end of period 808 849 1,009
Supplemental disclosure of cash flow information:      
Interest paid 32 32 33
Income taxes paid $ 222 $ 240 $ 309
[1] Because the cash flows of our discontinued operations were not material for any period presented, we have not segregated the cash flows of those businesses on these statements of cash flows. We have presented the effect of the pre-tax gains on the disposals on these statements of cash flows. See Note 7, “Discontinued Operations,” for more information.