v3.24.3
Equity Award Plans (Tables)
 3 Months Ended
Oct. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of RSU and PSU activities
The following table summarizes the RSU and PSU activity under our stock plans during the three months ended October 31, 2024 (in millions, except per share amounts):
Unvested RSUs
Unvested PSUs
Number of Shares
Weighted-Average Grant-Date Fair Value Per Share
Aggregate Intrinsic Value
Number of Shares
Weighted-Average Grant-Date Fair Value Per Share
Aggregate Intrinsic Value
Balance—July 31, 20249.0 $205.18 $2,924.4 5.0 $155.89 $1,624.2 
Granted(1)
0.4 $351.52 1.6 $404.69 
Vested(2)
(1.3)$163.72 (0.6)$129.35 
Forfeited(0.3)$197.36 (1.5)$181.44 
Balance—October 31, 20247.8 $221.08 $2,813.8 4.5 $272.87 $1,633.6 
(1)For PSUs, shares granted represent the aggregate maximum number of shares that may be earned and issued with respect to these awards over their full terms.
(2)Includes time-based vesting for PSUs.
Schedule of assumptions used and resulting grant-date fair values The following table summarizes the assumptions used and the resulting grant-date fair value of our PSUs subject to market conditions granted during the three months ended October 31, 2024:
Three Months Ended October 31,
20242023
Volatility
44.1% - 47.6%
40.8% - 43.4%
Expected term (in years)
1.0 - 2.9
0.9 - 2.9
Dividend yield0.0 %0.0 %
Risk-free interest rate
3.7% - 4.5%
4.9% - 5.3%
Grant-date fair value per share
$529.01 - $611.65
$346.92 - $394.63
Schedule of PSO activity
The following table summarizes the PSO activity under our stock plans during the three months ended October 31, 2024 (in millions, except per share amounts):
Number of Shares
Weighted-Average Exercise Price Per Share
Weighted-Average Remaining Contractual Term (Years)
Aggregate Intrinsic Value
Balance—July 31, 20244.8 $65.33 1.2$1,244.9 
Exercised(0.6)$65.63 
Balance—October 31, 20244.2 $65.29 1.0$1,251.3 
Exercisable—October 31, 20244.2 $65.29 1.0$1,251.3 
Schedule of allocation of share-based compensation expense
The following table summarizes share-based compensation included in costs and expenses (in millions):
Three Months Ended October 31,
20242023
Cost of product revenue $1.3 $2.4 
Cost of subscription and support revenue 30.4 30.6 
Research and development137.8 120.1 
Sales and marketing76.4 79.2 
General and administrative48.4 38.7 
Total share-based compensation$294.3 $271.0