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Leases (Tables)
 9 Months Ended
Apr. 30, 2020
Leases [Abstract]  
Components of Lease Expense
Supplemental balance sheet information related to operating leases was as follows at the date indicated:
(In millions)
April 30,
2020
 
 
Operating lease right-of-use assets
$
220

 
 
Other current liabilities
$
50

Operating lease liabilities
215

Total operating lease liabilities
$
265


The components of lease expense were as follows:
 
Three Months Ended
 
Nine Months Ended
(In millions)
April 30, 2020
 
April 30, 2020
Operating lease cost (1)
$
16

 
$
53

Variable lease cost
3

 
9

Sublease income
(5
)
 
(19
)
Total net lease cost
$
14

 
$
43

(1) 
Includes short-term leases, which are not significant for the three or nine months ended April 30, 2020.
Supplemental cash flow information related to operating leases was as follows:
 
Nine Months Ended
 
April 30, 2020
(In millions)
 
Cash paid for amounts included in the measurement of operating lease liabilities
$
50

 
 
Right-of-use assets obtained in exchange for new operating lease liabilities (1)
$
328

(1) 
For the nine months ended April 30, 2020, this includes $319 million for operating leases existing on August 1, 2019 and $9 million for operating leases that commenced in the first nine months of fiscal 2020.
Other information related to operating leases was as follows at the date indicated:
 
April 30, 2020
Weighted-average remaining lease term for operating leases (in years)
5.4

Weighted-average discount rate for operating leases
2.9
%
Future Minimum Lease Payments
Future minimum lease payments under non-cancellable operating leases as of April 30, 2020 were as follows:
(In millions)
Operating
Leases (1)
Fiscal year ending July 31,
 
2020 (excluding the nine months ended April 30, 2020)
$
13

2021
59

2022
56

2023
47

2024
45

Thereafter
66

Total future minimum lease payments
286

Less imputed interest
(21
)
Present value of lease liabilities
$
265

(1)
Non-cancellable sublease proceeds for the remainder of the fiscal year ending July 31, 2020 and the fiscal years ending July 31, 2021, 2022, 2023, 2024, and thereafter of $5 million, $13 million, $8 million, $1 million, $1 million, and $1 million, respectively, are not included in the table above.