FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Jul. 30, 2022

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables provide the fair value hierarchy for financial assets and liabilities measured on a recurring basis:


		Fair Value at July 30, 2022
(in millions)	Consolidated Balance Sheets Location	Level 1		Level 2		Level 3
Assets:

Fuel derivatives designated as hedging instruments	Prepaid expenses and other current assets	$	—	$	3	$	—
Interest rate swaps designated as hedging instruments	Prepaid expenses and other current assets	$	—	$	3	$	—
Interest rate swaps designated as hedging instruments	Other long-term assets	$	—	$	1	$	—


Liabilities:




Interest rate swaps designated as hedging instruments	Other long-term liabilities	$	—	$	2	$	—


		Fair Value at July 31, 2021
(in millions)	Consolidated Balance Sheets Location	Level 1		Level 2		Level 3
Assets:



Fuel derivatives designated as hedging instruments	Prepaid expenses and other current assets	$	—	$	1	$	—
Mutual funds	Other long-term assets	$	2	$	—	$	—

Liabilities:

Foreign currency derivatives designated as hedging instruments	Accrued expenses and other current liabilities	$	—	$	1	$	—
Interest rate swaps designated as hedging instruments	Accrued expenses and other current liabilities	$	—	$	33	$	—
Interest rate swaps designated as hedging instruments	Other long-term liabilities	$	—	$	42	$	—

Schedule of Fair Value, by Balance Sheet Grouping

In the table below, the carrying value of the Company’s long-term debt is net of original issue discounts and debt issuance costs. Refer to Note 1—Significant Accounting Policies for additional information regarding the fair value hierarchy.


	July 30, 2022				July 31, 2021
(in millions)	Carrying Value		Fair Value		Carrying Value		Fair Value
Notes receivable, including current portion	$	23	$	17	$	29	$	26
Long-term debt, including current portion	$	2,123	$	2,153	$	2,188	$	2,278