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LONG-TERM DEBT (Tables)

12 Months Ended

Jul. 31, 2021

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 31, 2021						Fiscal Maturity Year						July 31, 2021						August 1, 2020
Term Loan Facility			3.59%						2026						$	1,002					$	1,773
ABL Credit Facility			1.52%						2024						701						757
Senior Notes			6.75%						2029						500						—
Other secured loans			5.16%						2024-2025						37						50
Debt issuance costs, net															(35)						(46)
Original issue discount on debt															(17)						(36)
Long-term debt, including current portion															2,188						2,498
Less: current portion of long-term debt															(13)						(71)
Long-term debt															$	2,175					$	2,427

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 31, 2021, consist of the following (in millions):

Fiscal Year						Long-term debt maturity						Interest on long-term debt
2022						$	14					$	82
2023						14						79
2024						709						76
2025						1						70
2026						1,002						42
2027 and thereafter						500						85
						$	2,240					$	434

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)(1):			July 31, 2021						August 1, 2020
Certain inventory assets included in Inventories, net and Current assets of discontinued operations			$	2,297					$	2,271
Certain receivables included in Accounts receivable, net and Current assets of discontinued operations			$	1,041					$	1,078

(1)    The ABL Credit Facility is also secured by all of the Company’s pharmacy prescription files, which are included in Intangibles, net in the Consolidated Balance Sheets. Refer to Note 6—Goodwill and Intangible Assets, Net in Part II, Item 8 of this Annual Report on Form 10-K for additional information.

ABL availability (in millions):			July 31, 2021
Total availability for ABL Loans and letters of credit			$	2,099
ABL Loans			$	701
Letters of credit			$	118
Unused credit			$	1,280

The applicable interest rates, letter of credit fees and unutilized commitment 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 Agreement), and were as follows:

Interest rates and fees under the ABL Credit Facility:			Range of Facility Rates and Fees (per annum)			July 31, 2021
U.S. and Canadian Borrowers’ applicable margin for base rate loans			0.00% - 0.50%			0.25		%
U.S. and Canadian Borrowers’ applicable margin for LIBOR and BA loans(1)			1.00% - 1.50%			1.25		%
Unutilized commitment fees			0.25% - 0.375%			0.25		%
Letter of credit fees			1.125% - 1.625%			1.375		%

(1) The U.S. Borrowers utilize LIBOR-based loans and the Canadian Borrower utilizes bankers’ acceptance rate-based loans.

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Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.

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-Name Accounting Standards Codification
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-SubTopic 10
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