BUSINESS SEGMENTS (Tables)

6 Months Ended

Jan. 28, 2023

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				26-Week Period Ended
(in millions)	January 28, 2023		January 29, 2022		January 28, 2023		January 29, 2022
Net sales:
Wholesale(1)	$	7,514	$	7,132	$	14,773	$	13,866
Retail	660		643		1,273		1,245
Other	56		50		116		106
Eliminations	(414)		(409)		(814)		(804)
Total Net sales	$	7,816	$	7,416	$	15,348	$	14,413
Adjusted EBITDA:
Wholesale(2)	$	137	$	176	$	308	$	351
Retail(2)	28		32		48		54
Other	15		12		34		16
Eliminations	1		—		(2)		(1)
Adjustments:
Net income attributable to noncontrolling interests	3		2		4		3
Net periodic benefit income, excluding service cost	7		10		14		20
Interest expense, net	(39)		(44)		(74)		(84)
Other income, net	—		2		1		1
Depreciation and amortization	(73)		(69)		(147)		(138)
Share-based compensation	(11)		(12)		(23)		(23)
LIFO charge(2)	(29)		(19)		(50)		(30)
Restructuring, acquisition and integration related expenses	(3)		(5)		(5)		(8)
(Loss) gain on sale of assets	(1)		(1)		4		(1)
Multiemployer pension plan withdrawal benefit	—		8		—		8
Other retail benefit	—		1		—		1
Business transformation costs	(4)		—		(9)		—
Income before income taxes	$	31	$	93	$	103	$	169
Depreciation and amortization:
Wholesale	$	62	$	61	$	126	$	122
Retail	10		8		18		15
Other	1		—		3		1
Total depreciation and amortization	$	73	$	69	$	147	$	138
Payments for capital expenditures:
Wholesale	$	74	$	46	$	131	$	98
Retail	10		4		20		8
Total capital expenditures	$	84	$	50	$	151	$	106

(1)As presented in Note 3—Revenue Recognition, the Company recorded $353 million and $356 million for the second quarters of fiscal 2023 and 2022, respectively, and $687 million and $695 million in fiscal 2023 and 2022 year-to-date, 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.

Total assets by reportable segment were as follows:

(in millions)	January 28, 2023		July 30, 2022
Assets:
Wholesale	$	6,684	$	6,733
Retail	637		599
Other	352		335
Eliminations	(38)		(39)
Total assets	$	7,635	$	7,628