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INCOME TAXES (Tables) | 12 Months Ended
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Aug. 01, 2020
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | Total federal, state, and foreign income tax (benefit) expense in continuing operations consists of the following:
(in thousands) | Current |  | Deferred |  | Total
Fiscal 2020 |  |  |  |  |  |  |  |
U.S. Federal | $ | (22,681 | ) |  | $ | (45,315 | ) |  | $ | (67,996 | )
State and Local | 654 |  |  | (23,058 | ) |  | (22,404 | )
Foreign | 2,515 |  |  | (2,560 | ) |  | (45 | )
| $ | (19,512 | ) |  | $ | (70,933 | ) |  | $ | (90,445 | )
Fiscal 2019 |  |  |  |  |  |  |  |
U.S. Federal | $ | 11,402 |  |  | $ | (59,528 | ) |  | $ | (48,126 | )
State and Local | (11,049 | ) |  | (1,767 | ) |  | (12,816 | )
Foreign | 1,919 |  |  | 87 |  |  | 2,006 |
| $ | 2,272 |  |  | $ | (61,208 | ) |  | $ | (58,936 | )
Fiscal 2018 |  |  |  |  |  |  |  |
U.S. Federal | $ | 46,210 |  |  | $ | (16,508 | ) |  | $ | 29,702 |
State and Local | 13,310 |  |  | 1,878 |  |  | 15,188 |
Foreign | 2,374 |  |  | (49 | ) |  | 2,325 |
| $ | 61,894 |  |  | $ | (14,679 | ) |  | $ | 47,215 |
The income tax expense (benefit) in continuing operations for fiscal 2020, 2019 and 2018 was allocated as follows:
(in thousands) | 2020 |  | 2019 |  | 2018
Income tax expense | $ | (90,445 | ) |  | $ | (58,936 | ) |  | $ | 47,215 |
Other comprehensive income | (45,700 | ) |  | (33,854 | ) |  | 1,561 |
Total | $ | (136,145 | ) |  | $ | (92,790 | ) |  | $ | 48,776 |
The total (benefit) provision for income taxes included in the Consolidated Statements of Operations consisted of the following:
(in thousands) | 2020 |  | 2019 |  | 2018
Continuing operations | $ | (90,445 | ) |  | $ | (58,936 | ) |  | $ | 47,215 |
Discontinued operations | (4,465 | ) |  | (3,723 | ) |  | — |
Total | $ | (94,910 | ) |  | $ | (62,659 | ) |  | $ | 47,215 |
Schedule of Effective Income Tax Rate Reconciliation | Total income tax expense (benefit) in continuing operations was different than the amounts computed by applying the statutory federal income tax rate to income before income taxes because of the following:
(in thousands) | 2020 |  | 2019 |  | 2018
Computed “expected” tax expense | $ | (72,335 | ) |  | $ | (70,740 | ) |  | $ | 57,499 |
State and local income tax, net of Federal income tax benefit | (19,344 | ) |  | (17,524 | ) |  | 10,501 |
Non-deductible expenses | 3,033 |  |  | 5,670 |  |  | 955 |
Tax effect of share-based compensation | 2,715 |  |  | 125 |  |  | 149 |
General business credits | (1,855 | ) |  | (1,757 | ) |  | (552 | )
Unrecognized tax benefits | (7,441 | ) |  | (8,130 | ) |  | 618 |
Nondeductible goodwill impairment | 44,226 |  |  | 32,619 |  |  | — |
Impacts related to the TCJA | — |  |  | — |  |  | (21,719 | )
Impacts related to the CARES Act | (39,497 | ) |  | — |  |  | — |
Other, net | 53 |  |  | 801 |  |  | (236 | )
Total income tax expense | $ | (90,445 | ) |  | $ | (58,936 | ) |  | $ | 47,215 |
Summary of Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows:
(in thousands) | 2020 |  | 2019 |  | 2018
Unrecognized tax benefits at beginning of period | $ | 40,142 |  |  | $ | 1,104 |  |  | $ | 478 |
Unrecognized tax benefits added during the period | 5,950 |  |  | — |  |  | 626 |
Unrecognized tax benefits assumed in a business combination | — |  |  | 49,566 |  |  | — |
Decreases in unrecognized tax benefits due to statute expiration | (1,595 | ) |  | (10,528 | ) |  | — |
Decreases in unrecognized tax benefits due to settlements | (12,375 | ) |  | — |  |  | — |
Unrecognized tax benefits at end of period | $ | 32,122 |  |  | $ | 40,142 |  |  | $ | 1,104 |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the net deferred tax assets and deferred tax liabilities at August 1, 2020 and August 3, 2019 are presented below:
(in thousands) | August 1, 2020 |  | August 3, 2019
Deferred tax assets: |  |  |
Inventories, principally due to additional costs inventoried for tax purposes | $ | 78 |  |  | $ | 2 |
Compensation and benefits related | 103,312 |  |  | 100,942 |
Accounts receivable, principally due to allowances for uncollectible accounts | 12,217 |  |  | 3,355 |
Accrued expenses | 32,844 |  |  | 15,022 |
Net operating loss carryforwards | 13,464 |  |  | 44,396 |
Other tax carryforwards (interest, charitable contributions) | 6,971 |  |  | 10,143 |
Foreign tax credits | 445 |  |  | 445 |
Intangible assets | 67,226 |  |  | 5,869 |
Interest rate swap agreements | 36,949 |  |  | 20,518 |
Other deferred tax assets | 5,258 |  |  | 2,946 |
Total gross deferred tax assets | 278,764 |  |  | 203,638 |
Less valuation allowance | (3,098 | ) |  | (445 | )
Net deferred tax assets | $ | 275,666 |  |  | $ | 203,193 |
Deferred tax liabilities: |  |  |
Plant and equipment, principally due to differences in depreciation | $ | 125,463 |  |  | $ | 117,195 |
Inventories | 42,579 |  |  | 51,392 |
Intangible assets | — |  |  | 1,016 |
Other | — |  |  | 370 |
Total deferred tax liabilities | 168,042 |  |  | 169,973 |
Net deferred tax assets | $ | 107,624 |  |  | $ | 33,220 |

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