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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 9 Months Ended
Apr. 30, 2026
Apr. 30, 2025
Cash flows from operating activities:    
Net income $ 4,203 $ 3,488
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 133 129
Amortization of acquired intangible assets 495 472
Non-cash operating lease cost 77 56
Share-based compensation expense 1,549 1,478
Deferred income taxes 1,150 (278)
Provision for credit losses 189 101
Other (150) 13
Total adjustments 3,443 1,971
Changes in operating assets and liabilities:    
Accounts receivable (303) (267)
Income taxes receivable (2) 69
Prepaid expenses and other assets (148) (227)
Accounts payable 281 285
Accrued compensation and related liabilities (102) (173)
Deferred revenue 33 84
Operating lease liabilities (65) (59)
Other liabilities 167 655
Total changes in operating assets and liabilities (139) 367
Net cash provided by operating activities 7,507 5,826
Cash flows from investing activities:    
Purchases of corporate and customer fund investments (2,204) (1,080)
Sales of corporate and customer fund investments 133 168
Maturities of corporate and customer fund investments 1,655 656
Purchases of property and equipment (148) (99)
Originations and purchases of notes receivable held for investment (4,930) (2,873)
Sales of notes receivable originally classified as held for investment 1,389 300
Principal repayments of notes receivable held for investment 3,125 1,952
Other (120) (117)
Net cash used in investing activities (1,100) (1,093)
Cash flows from financing activities:    
Proceeds from borrowings under secured revolving credit facilities 186 364
Proceeds from issuance of stock under employee stock plans 136 263
Payments for employee taxes withheld upon vesting of restricted stock units (575) (612)
Cash paid for purchases of treasury stock (3,341) (2,026)
Dividends and dividend rights paid (1,015) (888)
Net change in funds receivable and funds payable and amounts due to customers 633 1,251
Other (7) (4)
Net cash used in financing activities (3,983) (1,652)
Effect of exchange rates on cash, cash equivalents, restricted cash, and restricted cash equivalents 9 4
Net increase in cash, cash equivalents, restricted cash, and restricted cash equivalents 2,433 3,085
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period 9,481 7,099
Cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period 11,914 10,184
Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents reported within the condensed consolidated balance sheets to the total amounts reported on the condensed consolidated statements of cash flows    
Cash and cash equivalents 4,681 5,443
Restricted cash and restricted cash equivalents included in funds receivable and amounts held for customers 7,233 4,741
Total cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period 11,914 10,184
Supplemental schedule of non-cash investing activities:    
Transfers of notes receivable originated or purchased as held for investment to held for sale $ 1,427 $ 333

Source

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