LONG-TERM DEBT (Tables)

12 Months Ended

Jul. 30, 2022

Debt Disclosure [Abstract]

Schedule of Long-term Debt

The Company’s long-term debt consisted of the following:

(in millions)	Average Interest Rate at July 30, 2022	Fiscal Maturity Year	July 30, 2022		July 31, 2021
Term Loan Facility	5.69%	2026	$	800	$	1,002
ABL Credit Facility	3.55%	2027	840		701
Senior Notes	6.75%	2029	500		500
Other secured loans	5.09%	2024-2025	23		37
Debt issuance costs, net			(29)		(35)
Original issue discount on debt			(11)		(17)
Long-term debt, including current portion			2,123		2,188
Less: current portion of long-term debt			(14)		(13)
Long-term debt			$	2,109	$	2,175

Schedule of Maturities of Long-term Debt

Future maturities of long-term debt, excluding debt issuance costs and original issue and purchase accounting discounts on debt, and contractual interest payments based on the face value and applicable interest rate as of July 30, 2022, consist of the following (in millions):

Fiscal Year	Long-term debt maturity		Interest on long-term debt
2023	$	14	$	107
2024	8		115
2025	1		110
2026	800		74
2027	840		59
2028 and thereafter	500		51
	$	2,163	$	516

Schedule of Line of Credit Facilities

The assets included in the Consolidated Balance Sheets securing the outstanding obligations under the 2022 ABL Credit Facility on a first-priority basis, and the unused credit and fees under the ABL Credit Facility, were as follows:

Assets securing the ABL Credit Facility (in millions)(1):	July 30, 2022		July 31, 2021
Certain inventory assets included in Inventories, net and Current assets of discontinued operations	$	1,789	$	2,297
Certain receivables included in Accounts receivable, net and Current assets of discontinued operations	$	878	$	1,041

(1)    The ABL Credit Facility is also secured by all of the Company’s pharmacy prescription files, which are included in Intangibles, net in the Consolidated Balance Sheets. Refer to Note 6—Goodwill and Intangible Assets, Net for additional information.

Availability under the ABL Credit Facility (in millions):	July 30, 2022
Total availability for ABL loans and letters of credit	$	2,600
ABL loans	$	840
Letters of credit	$	133
Unused credit	$	1,627

The applicable interest rates, letter of credit fees and unutilized commitment fees under the ABL Credit Facility are variable and are dependent upon the prior fiscal quarter’s daily Average Availability (as defined in the ABL Agreement), and were as follows:

Interest rates and fees under the ABL Credit Facility:	Range of Facility Rates and Fees (per annum)	July 30, 2022
2022 Borrowers’ applicable margin for base rate loans	0.00% - 0.25%	0.00	%
2022 Borrowers’ applicable margin for SOFR and BA loans(1)	1.00% - 1.25%	1.00	%
Unutilized commitment fees	0.20%	0.20	%
Letter of credit fees	1.125% - 1.375%	1.125	%

(1) The U.S. Borrower utilizes SOFR-based loans and the Canadian Borrower utilizes bankers’ acceptance rate-based loans.