XML 35 R8.htm IDEA: XBRL DOCUMENT v3.19.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Jul. 31, 2019
Jul. 31, 2018
Jul. 31, 2017
Cash flows from operating activities:      
Net income $ 1,557 $ 1,329 $ 985
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 199 228 214
Amortization of acquired intangible assets 26 25 22
Share-based compensation expense 401 382 326
Loss on sale of long-lived assets 0 79 0
Deferred income taxes (7) (5) 17
Other 15 6 13
Total adjustments 634 715 592
Changes in operating assets and liabilities:      
Accounts receivable 11 5 5
Income taxes receivable 5 (1) (44)
Prepaid expenses and other assets (37) (33) (13)
Accounts payable 90 12 0
Accrued compensation and related liabilities 16 75 10
Deferred revenue 39 6 64
Other liabilities 9 4 0
Total changes in operating assets and liabilities 133 68 22
Net cash provided by operating activities 2,324 2,112 1,599
Cash flows from investing activities:      
Purchases of corporate and customer fund investments (752) (407) (352)
Sales of corporate and customer fund investments 84 128 359
Maturities of corporate and customer fund investments 303 286 183
Net change in customer fund deposits 69 (5) 68
Purchases of property and equipment (76) (38) (102)
Capitalization of internal use software (79) (86) (128)
Acquisitions of businesses, net of cash acquired (64) (363) 0
Originations of term loans to small businesses (316) (137) 0
Principal repayments of term loans from small businesses 267 82 0
Other (2) 3 (45)
Net cash used in investing activities (566) (537) (17)
Cash flows from financing activities:      
Proceeds from borrowings under unsecured revolving credit facility 0 800 150
Repayments on borrowings under unsecured revolving credit facility 0 (800) (150)
Proceeds from borrowings under secured revolving credit facility 48 0 0
Repayment of debt (50) (50) (512)
Proceeds from issuance of stock under employee stock plans 284 295 226
Payments for employee taxes withheld upon vesting of restricted stock units (251) (199) (153)
Cash paid for purchases of treasury stock (556) (272) (839)
Dividends and dividend rights paid (501) (407) (353)
Other (8) (1) (1)
Net cash used in financing activities (1,034) (634) (1,632)
Effect of exchange rates on cash, cash equivalents, restricted cash, and restricted cash equivalents (3) (11) 9
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents 721 930 (41)
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period 1,631 701 742
Cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period 2,352 1,631 701
Total cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period 2,352 1,631 742
Supplemental disclosure of cash flow information:      
Interest paid 17 19 42
Income taxes paid $ 325 $ 245 $ 430