LONG-TERM DEBT (Tables)

12 Months Ended

Jul. 29, 2023

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 29, 2023	Fiscal Maturity Year	July 29, 2023		July 30, 2022
Term Loan Facility	8.47%	2026	$	670	$	800
ABL Credit Facility	6.31%	2027	812		840
Senior Notes	6.75%	2029	500		500
Other secured loans	4.78%	2024-2025	9		23
Debt issuance costs, net			(22)		(29)
Original issue discount on debt			(6)		(11)
Long-term debt, including current portion			1,963		2,123
Less: current portion of long-term debt			(7)		(14)
Long-term debt			$	1,956	$	2,109

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 29, 2023, consist of the following (in millions):

Fiscal Year	Long-term debt maturity		Interest on long-term debt
2024	$	8	$	153
2025	1		143
2026	670		99
2027	812		77
2028	—		34
2029 and thereafter	500		17
	$	1,991	$	523

Schedule of Line of Credit Facilities

The assets included in the 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):	July 29, 2023		July 30, 2022
Certain inventory assets included in Inventories, net	$	1,861	$	1,789
Certain receivables included in Accounts receivable, net	571		878
Pharmacy prescription files included in Intangible assets, net	11		15
Total	$	2,443	$	2,682

Availability under the ABL Credit Facility (in millions):	July 29, 2023
Total availability for ABL loans and letters of credit	$	2,442
ABL loans	$	812
Letters of credit	$	150
Unused credit	$	1,480

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)	July 29, 2023
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.