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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Jul. 29, 2023
Jul. 30, 2022
Jul. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income including noncontrolling interests $ 30 $ 254 $ 155
Income from discontinued operations, net of tax 0 0 6
Net income from continuing operations 30 254 149
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 304 285 285
Share-based compensation 38 44 45
Gain on sale of property and equipment (9) (87) (4)
Closed property and other restructuring charges 0 2 6
Intangible asset impairment charges 25 0 0
Net pension and other postretirement benefit income (29) (40) (85)
Deferred income tax (benefit) expense (36) 55 (5)
LIFO charge 119 158 24
(Recoveries) provisions for losses on receivables (1) 2 (5)
Non-cash interest expense and other adjustments 13 24 51
Changes in operating assets and liabilities, net of acquired businesses      
Accounts and notes receivable 327 (108) 24
Inventories (57) (264) 14
Prepaid expenses and other assets (108) (155) (37)
Accounts payable 53 86 15
Accrued expenses and other liabilities (45) 75 137
Net cash provided by operating activities 624 331 614
CASH FLOWS FROM INVESTING ACTIVITIES:      
Payments for capital expenditures (323) (251) (310)
Proceeds from dispositions of assets 16 230 82
Payments for investments (32) (28) (11)
Net cash used in investing activities of continuing operations (339) (49) (239)
Net cash provided by investing activities of discontinued operations 0 0 2
Net cash used in investing activities (339) (49) (237)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from borrowings of long-term debt 0 0 500
Proceeds from borrowings under revolving credit line 2,976 4,425 3,676
Repayments of borrowings under revolving credit line (3,004) (4,287) (3,731)
Repayments of long-term debt and finance leases (154) (376) (792)
Repurchases of common stock (62) 0 0
Proceeds from the issuance of common stock and exercise of stock options 0 8 1
Payments of employee restricted stock tax withholdings (40) (41) (14)
Payments for debt issuance costs 0 (6) (13)
Distributions to noncontrolling interests (6) (4) (4)
Repayments of other loans (2) 0 (6)
Other 0 2 (1)
Net cash used in financing activities (292) (279) (384)
EFFECT OF EXCHANGE RATE ON CASH 0 0 1
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (7) 3 (6)
Cash and cash equivalents, at beginning of period 44 41 47
Cash and cash equivalents, at end of period 37 44 41
Supplemental disclosures of cash flow information:      
Cash paid for interest 133 134 146
Cash (refunds) payments for federal, state and foreign income taxes, net (5) 5 (16)
Additions of property and equipment included in Accounts payable $ 32 $ 45 $ 35