v3.24.3
Fair Value Measurements (Tables)
 3 Months Ended
Oct. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of fair value of financial assets and liabilities
The following table presents our financial assets and liabilities measured at fair value on a recurring basis as of October 31, 2024 and July 31, 2024 (in millions):
October 31, 2024July 31, 2024
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Cash equivalents:
Money market funds$1,105.3 $— $— $1,105.3 $494.0 $— $— $494.0 
Commercial paper— 228.7 — 228.7 — 299.6 — 299.6 
Corporate debt securities— 34.2 — 34.2 — 18.2 — 18.2 
U.S. government and agency securities— 74.8 — 74.8 — 149.6 — 149.6 
Total cash equivalents1,105.3 337.7 — 1,443.0 494.0 467.4 — 961.4 
Short-term investments:
Certificates of deposit— 15.7 — 15.7 — 20.6 — 20.6 
Commercial paper— 36.1 — 36.1 — 79.9 — 79.9 
Corporate debt securities— 1,037.5 — 1,037.5 — 935.9 — 935.9 
U.S. government and agency securities— 4.2 — 4.2 — 2.7 — 2.7 
Non-U.S. government and agency securities— — — — — 4.2 — 4.2 
Asset-backed securities— 14.7 — 14.7 — 0.3 — 0.3 
Total short-term investments— 1,108.2 — 1,108.2 — 1,043.6 — 1,043.6 
Long-term investments:
Corporate debt securities— 3,095.2 — 3,095.2 — 3,151.3 — 3,151.3 
U.S. government and agency securities— 17.7 — 17.7 — 19.0 — 19.0 
Non-U.S. government and agency securities— 39.1 — 39.1 — 54.4 — 54.4 
Asset-backed securities— 967.7 — 967.7 — 948.5 — 948.5 
Total long-term investments— 4,119.7 — 4,119.7 — 4,173.2 — 4,173.2 
Prepaid expenses and other current assets:
Foreign currency forward contracts— 5.3 — 5.3 — 4.1 — 4.1 
Total prepaid expenses and other current assets— 5.3 — 5.3 — 4.1 — 4.1 
Other assets:
Foreign currency forward contracts— — — — — 0.1 — 0.1 
Total other assets— — — — — 0.1 — 0.1 
Total assets measured at fair value$1,105.3 $5,570.9 $— $6,676.2 $494.0 $5,688.4 $— $6,182.4 
October 31, 2024July 31, 2024
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Accrued and other liabilities:
Foreign currency forward contracts$— $11.8 $— $11.8 $— $15.3 $— $15.3 
Contingent consideration
— — 238.5 238.5 — — — — 
Total accrued and other liabilities— 11.8 238.5 250.3 — 15.3 — 15.3 
Other long-term liabilities:
Foreign currency forward contracts— — — — — 0.9 — 0.9 
Contingent consideration
— — 416.7 416.7 — — — — 
Total other long-term liabilities— — 416.7 416.7 — 0.9 — 0.9 
Total liabilities measured at fair value$— $11.8 $655.2 $667.0 $— $16.2 $— $16.2 
Schedule of reconciliation beginning and ending amount of contingent consideration liabilities
The following table presents a reconciliation of our contingent consideration liability (in millions):
Three Months Ended October 31, 2024
Contingent consideration liability at the beginning of the period
$— 
Initial valuation on the acquisition date
648.9 
Change in fair value
6.3 
Contingent consideration liability at the end of the period
$655.2