Operating lease not yet commenced

[Table of Contents](#if58bf2b7da5f49b78db442640b215d13_7)Supplemental cash flow information related to operating leases was as follows:

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|  | Nine Months Ended |
| (In millions) | April 30,2022 |  | April 30,2021 |
| Cash paid for amounts included in the measurement of operating lease liabilities | $ | 77  |  |  | $ | 52  |  |
| Right-of-use assets obtained in exchange for operating lease liabilities | $ | 81  |  |  | $ | 32  |  |

Other information related to operating leases was as follows at the dates indicated:

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|  |  |  |  |  |  |  |  |  |  |  |  |
|  | April 30,2022 |  | July 31,2021 |
| Weighted-average remaining lease term for operating leases | 6.8 years |  | 6.8 years |
| Weighted-average discount rate for operating leases | 2.3  | % |  | 2.3  | % |

Future minimum lease payments under non-cancellable operating leases as of April 30, 2022 were as follows:

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|  |  |  |  |  |  |
| (In millions) | OperatingLeases (1) |
| Fiscal year ending July 31, |   |
| 2022 (excluding the nine months ended April 30, 2022) | $ | 12  |  |
| 2023 | 100  |  |
| 2024 | 92  |  |
| 2025 | 74  |  |
| 2026 | 55  |  |
| Thereafter | 199  |  |
| Total future minimum lease payments | 532  |  |
| Less imputed interest | (40) |  |
| Present value of lease liabilities | $ | 492  |  |

(1)    Non-cancellable sublease proceeds for the remainder of the fiscal year ending July 31, 2022 and the fiscal years ending July 31, 2023, 2024, and 2025, of $3 million, $10 million, $8 million, and $4 million, respectively, are not included in the table above.Supplemental balance sheet information related to operating leases was as follows at the dates indicated:

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| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
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| (In millions) | April 30,2022 |  | July 31,2021 |
|  |  |  |  |
| Operating lease right-of-use assets | $ | 425  |  |  | $ | 380  |  |
|  |  |  |  |
| Other current liabilities | $ | 77  |  |  | $ | 66  |  |
| Operating lease liabilities | 415  |  |  | 380  |  |
| Total operating lease liabilities | $ | 492  |  |  | $ | 446  |  |

As of April 30, 2022, we have additional operating leases of $175 million for office facilities that have not yet commenced and therefore are not reflected on the consolidated balance sheets nor in the tables above. These leases are expected to commence in fiscal year 2022 with a lease terms ranging from 9.7 years to 13.5 years. 

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| 9. Income Taxes |



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| Effective Tax Rate |

We compute our provision for or benefit from income taxes by applying the estimated annual effective tax rate to income or loss from recurring operations and adding the effects of any discrete income tax items specific to the period. For the three and nine months ended April 30, 2022, we recognized excess tax benefits on share-based compensation of $26 million and $135 million, respectively, in our provision for income taxes. For the three and nine months ended April 30, 

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|  |  Intuit Q3 Fiscal 2022 Form 10-Q | 23 |  |


