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FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
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Jul. 31, 2021
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following tables provide the fair value hierarchy for financial assets and liabilities measured on a recurring basis:
|  |  |  | Fair Value at July 31, 2021
(In millions) |  | Consolidated Balance Sheets Location |  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |  |
Fuel derivatives designated as hedging instruments |  | Prepaid expenses and other current assets |  | $ | — |  |  | $ | 1 |  |  | $ | — |
Mutual funds |  | Other long-term assets |  | $ | 2 |  |  | $ | — |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |
Foreign currency derivatives designated as hedging instruments |  | Accrued expenses and other current liabilities |  | $ | — |  |  | $ | 1 |  |  | $ | — |
Interest rate swaps designated as hedging instruments |  | Accrued expenses and other current liabilities |  | $ | — |  |  | $ | 33 |  |  | $ | — |
Interest rate swaps designated as hedging instruments |  | Other long-term liabilities |  | $ | — |  |  | $ | 42 |  |  | $ | — |
|  |  |  | Fair Value at August 1, 2020
(In millions) |  | Consolidated Balance Sheets Location |  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |  |
Mutual funds |  | Other long-term assets |  | $ | 2 |  |  | $ | — |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |
Interest rate swaps designated as hedging instruments |  | Accrued expenses and other current liabilities |  | $ | — |  |  | $ | 47 |  |  | $ | — |
Interest rate swaps designated as hedging instruments |  | Other long-term liabilities |  | $ | — |  |  | $ | 92 |  |  | $ | — |
Fair Value, by Balance Sheet Grouping |
|  | July 31, 2021 |  | August 1, 2020
(in millions) |  | Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Notes receivable, including current portion |  | $ | 29 |  |  | $ | 26 |  |  | $ | 78 |  |  | $ | 79 |
Long-term debt, including current portion |  | $ | 2,188 |  |  | $ | 2,278 |  |  | $ | 2,498 |  |  | $ | 2,536 |

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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