BUSINESS SEGMENTS (Tables)

3 Months Ended

Oct. 29, 2022

Segment Reporting [Abstract]

Schedule of Business Segment Information

The following table provides Net sales and Adjusted EBITDA by reportable segment and reconciles that information to consolidated Net sales and Income before income taxes, respectively:

	13-Week Period Ended
(in millions)	October 29, 2022		October 30, 2021
Net sales:
Wholesale(1)	$	7,259	$	6,734
Retail	613		602
Other	60		56
Eliminations	(400)		(395)
Total Net sales	$	7,532	$	6,997
Adjusted EBITDA:
Wholesale(2)	$	171	$	175
Retail(2)	20		22
Other	19		4
Eliminations	(3)		(1)
Adjustments:
Net income attributable to noncontrolling interests	1		1
Net periodic benefit income, excluding service cost	7		10
Interest expense, net	(35)		(40)
Other (income) expense, net	1		(1)
Depreciation and amortization	(74)		(69)
Share-based compensation	(12)		(11)
LIFO charge(2)	(21)		(11)
Restructuring, acquisition and integration related expenses	(2)		(3)
Gain on sale of assets	5		—
Other(3)	(5)		—
Income before income taxes	$	72	$	76
Depreciation and amortization:
Wholesale	$	64	$	61
Retail	8		7
Other	2		1
Total depreciation and amortization	$	74	$	69
Payments for capital expenditures:
Wholesale	$	57	$	52
Retail	10		4
Total capital expenditures	$	67	$	56

(1)As presented in Note 3—Revenue Recognition, for the first quarters of fiscal 2023 and 2022, the Company recorded $334 million and $339 million, respectively, within Net sales in its Wholesale reportable segment attributable to Wholesale to Retail sales that have been eliminated upon consolidation.

(2)As a result of the segment profit measurement revision discussed above, previously reported Adjusted EBITDA disclosures by segment and the reconciliation to Income before income taxes has been recast to exclude the impact of the non-cash LIFO charge.

(3)Includes costs for certain technology-related initiatives.

Total assets by reportable segment were as follows:

(in millions)	October 29, 2022		July 30, 2022
Assets:
Wholesale	$	7,261	$	6,733
Retail	631		599
Other	352		335
Eliminations	(45)		(39)
Total assets	$	8,199	$	7,628