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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
12 Months Ended
Aug. 01, 2020
USD ($)
Aug. 03, 2019
USD ($)
Jul. 28, 2018
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net (loss) income including noncontrolling interests $ (269,211) $ (284,623) $ 162,777
(Loss) income from discontinued operations, net of tax (15,202) [1] 898 [2] 0
Net (loss) income from continuing operations (254,009) [1] (285,521) 162,777
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization 281,535 247,746 87,631
Share-based compensation 24,643 25,551 25,783
Loss (gain) on disposal of assets 17,132 (499) 0
Closed property and other restructuring charges 45,501 30,204 2,820
Goodwill and asset impairments 425,405 292,770 11,242
Net pension and other postretirement benefit income (39,177) (34,868) 0
Deferred income tax benefit (70,933) (61,208) (14,679)
LIFO charge 17,900 25,372 0
Change in accounting estimate 0 0 (20,909)
Provision for doubtful accounts, net 46,032 9,749 12,006
Non-cash interest expense and other adjustments 14,706 15,654 (424)
Changes in operating assets and liabilities, net of acquired businesses      
Accounts and notes receivable (123,970) 53,351 (67,283)
Inventories (111,267) 183,105 (106,042)
Prepaid expenses and other assets 112,771 (47,708) 4,473
Accounts payable 107,050 (24,833) 3,961
Accrued expenses, other liabilities and other (40,954) (139,879) 7,682
Net cash provided by operating activities of continuing operations 452,365 288,986 109,038
Net cash provided by (used in) operating activities of discontinued operations 4,171 (4,456) 0
Net cash provided by operating activities 456,536 284,530 109,038
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital expenditures (172,568) (228,477) (44,608)
Purchases of acquired businesses, net of cash acquired 0 (2,292,435) (39)
Proceeds from dispositions of assets 147,382 180,362 1,039
Other (2,498) (280) (3,397)
Net cash used in investing activities of continuing operations (27,684) (2,340,830) (47,005)
Net cash provided by investing activities of discontinued operations 26,218 82,043 0
Net cash used in investing activities (1,466) (2,258,787) (47,005)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from borrowings of long-term debt 2,050 1,926,642 0
Proceeds from borrowings under revolving credit line 4,278,202 3,971,504 556,061
Proceeds from issuance of other loans 6,266 22,358 0
Repayments of borrowings under revolving credit line (4,601,490) (3,101,679) (569,671)
Repayments of long-term debt and finance leases (122,302) (779,909) (12,128)
Repayments of other loans (24,408) 0 0
Repurchase of common stock 0 0 (24,231)
Proceeds from the issuance of common stock and exercise of stock options 14,276 23,975 975
Payment of employee restricted stock tax withholdings (1,023) (2,727) (4,563)
Payments for debt issuance costs 0 (62,600) 0
Distributions to noncontrolling interests (4,642) (1,212) 0
Net cash used in by financing activities (453,071) 1,996,352 (53,557)
EFFECT OF EXCHANGE RATE ON CASH (154) (143) (575)
NET INCREASE IN CASH AND CASH EQUIVALENTS 1,845 21,952 7,901
Cash and cash equivalents, at beginning of period 45,267 23,315 15,414
Cash and cash equivalents, at end of period 47,112 45,267 23,315
Less: cash and cash equivalents of discontinued operations (119) (799) 0
Cash and cash equivalents 46,993 44,468 23,315
Supplemental disclosures of cash flow information:      
Cash paid for interest 181,815 183,042 16,471
Cash (refunds) payments for federal and state income taxes, net $ (21,886) $ 77,676 $ 64,042
[1]
Fiscal 2020 results reflect 52 weeks of operating results, as compared to fiscal 2019 53 weeks. The fourth quarter of fiscal 2020 includes 13 weeks and the fourth quarter of fiscal 2019 contains 14 weeks.
[2]
These results reflect retail operations from the Supervalu acquisition date of October 22, 2018 to August 3, 2019.