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FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
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 1Level 2Level 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 1Level 2Level 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, 2021August 1, 2020
(in millions)Carrying ValueFair ValueCarrying ValueFair Value
Notes receivable, including current portion$29 $26 $78 $79 
Long-term debt, including current portion$2,188 $2,278 $2,498 $2,536