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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 9 Months Ended
Apr. 30, 2025
Apr. 30, 2024
Cash flows from operating activities:    
Net income $ 3,488 $ 2,983
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 129 111
Amortization of acquired intangible assets 472 470
Non-cash operating lease cost 56 63
Share-based compensation expense 1,478 1,421
Deferred income taxes (278) (361)
Other 114 69
Total adjustments 1,971 1,773
Originations and purchases of loans held for sale 0 (96)
Sales and principal repayments of loans held for sale 0 98
Changes in operating assets and liabilities:    
Accounts receivable (267) (384)
Income taxes receivable 69 25
Prepaid expenses and other assets (227) 18
Accounts payable 285 286
Accrued compensation and related liabilities (173) 20
Deferred revenue 84 (79)
Income taxes payable 606 (262)
Operating lease liabilities (59) (45)
Other liabilities 49 130
Total changes in operating assets and liabilities 367 (291)
Net cash provided by operating activities 5,826 4,467
Cash flows from investing activities:    
Purchases of corporate and customer fund investments (1,080) (564)
Sales of corporate and customer fund investments 168 491
Maturities of corporate and customer fund investments 656 489
Purchases of property and equipment (99) (208)
Originations and purchases of loans held for investment (2,873) (1,926)
Sales of loans originally classified as held for investment 300 101
Principal repayments of loans held for investment 1,952 1,688
Other (117) (46)
Net cash provided by (used in) investing activities (1,093) 25
Cash flows from financing activities:    
Proceeds from issuance of long-term debt, net of discount and issuance costs 0 3,956
Repayments of debt 0 (4,200)
Proceeds from borrowings under unsecured revolving credit facility 0 100
Repayments on borrowings under unsecured revolving credit facility 0 (100)
Proceeds from borrowings under secured revolving credit facilities 364 95
Repayments on borrowings under secured revolving credit facilities 0 (25)
Proceeds from issuance of stock under employee stock plans 263 226
Payments for employee taxes withheld upon vesting of restricted stock units (612) (632)
Cash paid for purchases of treasury stock (2,026) (1,707)
Dividends and dividend rights paid (888) (773)
Net change in funds receivable and funds payable and amounts due to customers 1,251 2,212
Other (4) (3)
Net cash used in financing activities (1,652) (851)
Effect of exchange rates on cash, cash equivalents, restricted cash, and restricted cash equivalents 4 (12)
Net increase in cash, cash equivalents, restricted cash, and restricted cash equivalents 3,085 3,629
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period 7,099 2,852
Cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period 10,184 6,481
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 5,443 4,215
Restricted cash and restricted cash equivalents included in funds receivable and amounts held for customers 4,741 2,266
Total cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period 10,184 6,481
Supplemental schedule of non-cash investing activities:    
Transfers of loans originated or purchased as held for investment to held for sale $ 333 $ 106

Source

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