LONG-TERM DEBT (Tables)

3 Months Ended

Oct. 29, 2022

Debt Disclosure [Abstract]

Schedule of Debt

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

(in millions)	Average Interest Rate at October 29, 2022	Fiscal Maturity Year	October 29, 2022		July 30, 2022
Term Loan Facility	6.40%	2026	$	800	$	800
ABL Credit Facility	4.64%	2027	1,217		840
Senior Notes	6.75%	2029	500		500
Other secured loans	5.06%	2024-2025	20		23
Debt issuance costs, net			(28)		(29)
Original issue discount on debt			(10)		(11)
Long-term debt, including current portion			2,499		2,123
Less: current portion of long-term debt			(14)		(14)
Long-term debt			$	2,485	$	2,109

Schedule of Line of Credit Facilities

The assets included in the Condensed Consolidated Balance Sheets securing the outstanding obligations under the 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):	October 29, 2022		July 30, 2022
Certain inventory assets included in Inventories, net	$	2,153	$	1,789
Certain receivables included in Accounts receivable, net	783		878
Pharmacy prescription files included in Intangible assets, net	14		15
Total	$	2,950	$	2,682

The Company’s resulting remaining availability under the ABL Credit Facility was $1,250 million as of October 29, 2022.

Availability under the ABL Credit Facility (in millions):	October 29, 2022
Total availability for ABL loans and letters of credit	$	2,600
ABL loans	$	1,217
Letters of credit	$	133
Unused credit	$	1,250

The applicable interest rates, unutilized commitment fees and letter of credit 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 Loan Agreement), and were as follows:

Interest rates and fees under the ABL Credit Facility:	Range of Facility Rates and Fees (per annum)	October 29, 2022
Borrowers’ applicable margin for base rate loans	0.00% - 0.25%	0.00	%
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.