Analysis of Debt
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Total Debt (Carrying Amount)
Intuit Inc., balance sheet: debt
US$ in millions
| Jul 31, 2025 | Jul 31, 2024 | Jul 31, 2023 | Jul 31, 2022 | Jul 31, 2021 | Jul 31, 2020 | ||
|---|---|---|---|---|---|---|---|
| Short-term debt | |||||||
| Long-term debt | |||||||
| Total debt (carrying amount) |
Based on: 10-K (reporting date: 2025-07-31), 10-K (reporting date: 2024-07-31), 10-K (reporting date: 2023-07-31), 10-K (reporting date: 2022-07-31), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-31).
- Short-term debt
- The short-term debt exhibited significant variability over the observed periods. It started at 1,338 million USD in July 2020, decreased sharply to 499 million USD in July 2022, and remained stable at 499 million USD through July 2024. Data for July 2021 and July 2023 are unavailable, making it difficult to ascertain fluctuations within those intervals. Overall, the short-term debt shows a marked reduction followed by stabilization.
- Long-term debt
- The long-term debt demonstrated considerable changes during the period. The amount was approximately stable between July 2020 and July 2021 at around 2,030 million USD. However, it surged significantly to 6,415 million USD by July 2022, followed by a moderate decline over the subsequent years to 5,973 million USD by July 2025. This suggests a substantial increase in long-term liabilities starting in 2022, with a gradual reduction afterward, though still remaining substantially above the initial levels.
- Total debt (carrying amount)
- Total debt figures reflect the combined trends of short-term and long-term debt. It decreased from 3,369 million USD in July 2020 to 2,034 million USD in July 2021. Subsequently, total debt rose sharply to 6,914 million USD by July 2022. From that peak, the total debt declined steadily to 5,973 million USD by July 2025. The pattern indicates an initial decrease in total debt followed by a pronounced increase and then a gradual reduction, paralleling the movements in long-term debt.
- Overall analysis
- The data suggests a strategic shift in the debt structure beginning around 2022, with a marked increase in long-term borrowing. Short-term debt, after declining early on, remained relatively constant at a lower level. The company's total debt followed a similar path, decreasing initially, spiking sharply in 2022, then slowly declining through 2025, indicating possible refinancing or restructuring activities aimed at optimizing debt maturity profiles and managing overall leverage.
Total Debt (Fair Value)
| Jul 31, 2025 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Senior unsecured notes | |
| Term loan | |
| Secured revolving credit facility | |
| Unsecured revolving credit facility | |
| Total debt (fair value) | |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | |
Based on: 10-K (reporting date: 2025-07-31).
Weighted-average Interest Rate on Debt
Weighted-average effective interest rate on debt:
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| Total | |||
Based on: 10-K (reporting date: 2025-07-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × ÷ =