Description of Business and Summary of Significant Accounting Policies (Tables)

3 Months Ended

Oct. 31, 2020

Accounting Policies [Abstract]

Composition of shares used in the computation of basic and diluted net income per share

The following table presents the composition of shares used in the computation of basic and diluted net income per share for the periods indicated.

	Three Months Ended
(In millions, except per share amounts)	October 31, 2020		October 31, 2019
Numerator:
Net income	$	198	$	57
Denominator:
Shares used in basic per share amounts:
Weighted average common shares outstanding	263		261
Shares used in diluted per share amounts:
Weighted average common shares outstanding	263		261
Dilutive common equivalent shares from stock options
and restricted stock awards	2		3
Dilutive weighted average common shares outstanding	265		264
Basic and diluted net income per share:
Basic net income per share	$	0.75	$	0.22
Diluted net income per share	$	0.75	$	0.22
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		—