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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Oct. 31, 2025
Oct. 31, 2024
Cash flows from operating activities:    
Net income $ 446 $ 197
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 44 44
Amortization of acquired intangible assets 165 157
Non-cash operating lease cost 23 19
Share-based compensation expense 543 511
Deferred income taxes 58 (91)
Other (6) 63
Total adjustments 827 703
Changes in operating assets and liabilities:    
Accounts receivable (49) 31
Income taxes receivable 19 51
Prepaid expenses and other assets (119) (27)
Accounts payable (135) (75)
Accrued compensation and related liabilities (378) (507)
Deferred revenue 25 19
Operating lease liabilities (23) (22)
Other liabilities 24 (8)
Total changes in operating assets and liabilities (636) (538)
Net cash provided by operating activities 637 362
Cash flows from investing activities:    
Purchases of corporate and customer fund investments (101) (306)
Sales of corporate and customer fund investments 115 55
Maturities of corporate and customer fund investments 1,473 235
Purchases of property and equipment (38) (33)
Originations and purchases of notes receivable held for investment (1,297) (666)
Sales of notes receivable originally classified as held for investment 213 110
Principal repayments of notes receivable held for investment 876 420
Other (43) (3)
Net cash provided by (used in) investing activities 1,198 (188)
Cash flows from financing activities:    
Proceeds from borrowings under secured revolving credit facilities 166 85
Proceeds from issuance of stock under employee stock plans 62 96
Payments for employee taxes withheld upon vesting of restricted stock units (244) (239)
Cash paid for purchases of treasury stock (854) (557)
Dividends and dividend rights paid (341) (296)
Net change in funds receivable and funds payable and amounts due to customers (3,160) 1,672
Other (1) 0
Net cash provided by (used in) financing activities (4,372) 761
Effect of exchange rates on cash, cash equivalents, restricted cash, and restricted cash equivalents (1) 0
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents (2,538) 935
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 6,943 8,034
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 3,506 2,872
Restricted cash and restricted cash equivalents included in funds receivable and amounts held for customers 3,437 5,162
Total cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period 6,943 8,034
Supplemental schedule of non-cash investing activities:    
Transfers of notes receivable originated or purchased as held for investment to held for sale $ 253 $ 113

Source

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