COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

3 Months Ended

Oct. 30, 2021

Schedule of Accumulated Other Comprehensive Income (Loss)

Changes in Accumulated other comprehensive loss by component, net of tax, for the first quarter of fiscal 2022 are as follows:


(in millions)	Other Cash Flow Derivatives		Benefit Plans		Foreign Currency Translation		Swap Agreements		Total
Accumulated other comprehensive income (loss) at July 31, 2021	$	—	$	37	$	(16)	$	(60)	$	(39)
Other comprehensive income before reclassifications	1		—		—		5		6
Amortization of amounts included in net periodic benefit income	—		1		—		—		1
Amortization of cash flow hedges	—		—		—		8		8
Net current period Other comprehensive income	1		1		—		13		15
Accumulated other comprehensive income (loss) at October 30, 2021	$	1	$	38	$	(16)	$	(47)	$	(24)

Changes in Accumulated other comprehensive loss by component, net of tax, for the first quarter of fiscal 2021 are as follows:


(in millions)	Benefit Plans		Foreign Currency Translation		Swap Agreements		Total
Accumulated other comprehensive loss at August 1, 2020	$	(116)	$	(21)	$	(102)	$	(239)
Other comprehensive income before reclassifications	—		—		3		3

Amortization of cash flow hedges	—		—		9		9

Net current period Other comprehensive income	—		—		12		12
Accumulated other comprehensive loss at October 31, 2020	$	(116)	$	(21)	$	(90)	$	(227)

Reclassification Out of Accumulated Other Comprehensive Income

Items reclassified out of Accumulated other comprehensive loss had the following impact on the Condensed Consolidated Statements of Operations:


	13-Week Period Ended				Affected Line Item on the Condensed Consolidated Statements of Operations
(in millions)	October 30, 2021		October 31, 2020
Pension and postretirement benefit plan net assets:
Amortization of amounts included in net periodic benefit income(1)	$	1	$	—	Net periodic benefit income, excluding service cost
Income tax benefit	—		—		Benefit for income taxes
Total reclassifications, net of tax	$	1	$	—

Swap agreements:
Reclassification of cash flow hedges	$	11	$	12	Interest expense, net
Income tax benefit	(3)		(3)		Benefit for income taxes
Total reclassifications, net of tax	$	8	$	9

(1)Reclassification of amounts included in net periodic benefit income include reclassification of prior service cost and reclassification of net actuarial loss as reflected in Note 11—Benefit Plans.