COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

3 Months Ended

Oct. 29, 2022

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

Changes in Accumulated other comprehensive loss by component, net of tax, for the first quarter of fiscal 2023 were as follows:

(in millions)	Other Cash Flow Derivatives		Benefit Plans		Foreign Currency Translation		Swap Agreements		Total
Accumulated other comprehensive income (loss) at July 30, 2022	$	2	$	(3)	$	(19)	$	—	$	(20)
Other comprehensive (loss) income before reclassifications	(1)		—		(3)		18		14
Amortization of cash flow hedges	1		—		—		—		1
Net current period Other comprehensive (loss) income	—		—		(3)		18		15
Accumulated other comprehensive income (loss) at October 29, 2022	$	2	$	(3)	$	(22)	$	18	$	(5)

Changes in Accumulated other comprehensive loss by component, net of tax, for the first quarter of fiscal 2022 were as follows:

(in millions)	Other Cash Flow Derivatives		Benefit Plans		Foreign Currency Translation		Swap Agreements		Total
Accumulated other comprehensive income (loss) at July 31, 2021	$	—	$	37	$	(16)	$	(60)	$	(39)
Other comprehensive income before reclassifications	1		—		—		5		6
Amortization of amounts included in net periodic benefit income	—		1		—		—		1
Amortization of cash flow hedges	—		—		—		8		8
Net current period Other comprehensive income	1		1		—		13		15
Accumulated other comprehensive income (loss) at October 30, 2021	$	1	$	38	$	(16)	$	(47)	$	(24)

Reclassification Out of Accumulated Other Comprehensive Income

Items reclassified out of Accumulated other comprehensive loss had the following impact on the Condensed Consolidated Statements of Operations:

	13-Week Period Ended				Affected Line Item on the Condensed Consolidated Statements of Operations
(in millions)	October 29, 2022		October 30, 2021
Pension and postretirement benefit plan net assets:
Amortization of amounts included in net periodic benefit income(1)	$	—	$	1	Net periodic benefit income, excluding service cost
Income tax benefit	—		—		Benefit for income taxes
Total reclassifications, net of tax	$	—	$	1
Swap agreements:
Reclassification of cash flow hedges	$	—	$	11	Interest expense, net
Income tax benefit	—		(3)		Benefit for income taxes
Total reclassifications, net of tax	$	—	$	8
Other cash flow hedges:
Reclassification of cash flow hedge	$	1	$	—	Cost of sales
Income tax benefit	—		—		Benefit for income taxes
Total reclassifications, net of tax	$	1	$	—

(1)Reclassification of amounts included in net periodic benefit income include reclassification of prior service cost and reclassification of net actuarial loss as reflected in Note 10—Benefit Plans.