v3.24.3
Financing Receivables
 3 Months Ended
Oct. 31, 2024
Receivables [Abstract]  
Financing Receivables Financing Receivables
The following table summarizes our short-term and long-term financing receivables as of October 31, 2024 and July 31, 2024 (in millions):
October 31, 2024July 31, 2024
Short-term financing receivables, gross$911.6 $830.2 
Unearned income
(99.0)(95.7)
Allowance for credit losses(7.5)(8.6)
Short-term financing receivables, net$805.1 $725.9 
Long-term financing receivables, gross$1,191.5 $1,286.4 
Unearned income
(91.4)(94.6)
Allowance for credit losses(7.9)(9.7)
Long-term financing receivables, net$1,092.2 $1,182.1 
The following table presents amortized cost basis of our financing receivables categorized by internal risk rating and year of origination (in millions):
Internal Risk Rating(1)
October 31, 2024July 31, 2024
Fiscal Year of Origination
Fiscal Year of Origination
20252024202320222021Total2024202320222021Total
1 to 4
$7.4 $916.1 $387.5 $9.9 $26.7 $1,347.6 $885.9 $477.3 $14.7 $44.4 $1,422.3 
5 to 6
43.7 330.1 152.3 3.1 1.1 530.3 272.2 172.0 21.1 1.1 466.4 
7 to 10
0.1 2.2 22.9 0.3 9.3 34.8 3.2 25.0 0.3 9.1 37.6 
Amortized cost basis of financing receivables
$51.2 $1,248.4 $562.7 $13.3 $37.1 $1,912.7 $1,161.3 $674.3 $36.1 $54.6 $1,926.3 
(1)Internal risk ratings are categorized as 1 through 10, with the lowest rating representing the highest quality.
There was no significant activity in allowance for credit losses during the three months ended October 31, 2024 and 2023. Past due amounts on financing receivables were not material as of October 31, 2024 and July 31, 2024.