Business Combinations (Tables)

12 Months Ended

Jul. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of recognized identified assets acquired and liabilities assumed

The preliminary allocation of the Credit Karma purchase price is as follows:

(In millions)	Amount
Cash and cash equivalents	$	436
Accounts receivable, net	141
Income taxes receivable	59
Prepaid expenses and other current assets	7
Long-term investments	3
Property and equipment, net	63
Operating lease right-of-use assets	167
Goodwill	3,898
Intangible assets	3,372
Other assets	81
Accounts payable	(86)
Accrued compensation and related liabilities	(113)
Other current liabilities	(24)
Operating lease liabilities	(172)
Long-term deferred income tax liabilities	(627)
Other long-term obligations	(10)
Total preliminary purchase price allocation	$	7,195

Schedule of finite-lived intangible assets acquired as part of business combination

The following table presents the details of identifiable intangible assets acquired.

(In millions, except years)	Estimated Useful Life	Amount
User relationships	15 years	$	2,781
Trade names/Trademarks	15 years	375
Purchased technology	6 years	216
Total identifiable intangible assets		$	3,372

Schedule of deferred tax assets and liabilities acquired

The following table summarizes the long-term deferred income tax assets and liabilities included in the purchase price allocation above:

(In millions)	Amount
Intangibles	$	(851)
Federal and state net operating loss carryforwards	138
Federal research and experimentation credit carryforwards	51
Other, net	35
Total net long-term deferred income tax liabilities	$	(627)

Business acquisition, pro forma information

The following table summarizes the pro forma financial information:

	Twelve Months Ended July 31,
(In millions)	2021		2020
Total revenue	$	9,876	$	8,549
Net income	$	1,977	$	1,319
Basic net income per share	$	7.21	$	4.85
Diluted net income per share	$	7.11	$	4.80