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COMPREHENSIVE INCOME (LOSS) AND ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables) | 12 Months Ended
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Jul. 29, 2023
Equity [Abstract] |
Schedule of Accumulated Other Comprehensive Income (Loss) | Changes in Accumulated other comprehensive loss by component, net of tax, for fiscal 2023, 2022 and 2021 are as follows:
(in millions) | Other Cash Flow Derivatives |  | Benefit Plans |  | Foreign Currency |  | Swap Agreements |  | Total
Accumulated other comprehensive loss at August 1, 2020 | $ | — |  |  | $ | (116) |  |  | $ | (21) |  |  | $ | (102) |  |  | $ | (239) |
Other comprehensive income before reclassifications | 1 |  |  | 167 |  |  | 5 |  |  | 8 |  |  | 181 |
Amortization of amounts included in net periodic benefit income | — |  |  | (2) |  |  | — |  |  | — |  |  | (2) |
Amortization of cash flow hedges | (1) |  |  | — |  |  | — |  |  | 34 |  |  | 33 |
Settlement gain | — |  |  | (12) |  |  | — |  |  | — |  |  | (12) |
Net current period Other comprehensive income | — |  |  | 153 |  |  | 5 |  |  | 42 |  |  | 200 |
Accumulated other comprehensive income (loss) at July 31, 2021 | $ | — |  |  | $ | 37 |  |  | $ | (16) |  |  | $ | (60) |  |  | $ | (39) |
Other comprehensive (loss) income before reclassifications | — |  |  | (42) |  |  | (3) |  |  | 34 |  |  | (11) |
Amortization of amounts included in net periodic benefit income | — |  |  | 2 |  |  | — |  |  | — |  |  | 2 |
Amortization of cash flow hedges | 2 |  |  | — |  |  | — |  |  | 26 |  |  | 28 |
Net current period Other comprehensive income (loss) | 2 |  |  | (40) |  |  | (3) |  |  | 60 |  |  | 19 |
Accumulated other comprehensive income (loss) at July 30, 2022 | $ | 2 |  |  | $ | (3) |  |  | $ | (19) |  |  | $ | — |  |  | $ | (20) |
Other comprehensive (loss) income before reclassifications | — |  |  | (20) |  |  | (2) |  |  | 23 |  |  | 1 |
Amortization of amounts included in net periodic benefit income | — |  |  | 2 |  |  | — |  |  | — |  |  | 2 |
Amortization of cash flow hedges | (2) |  |  | — |  |  | — |  |  | (9) |  |  | (11) |
Net current period Other comprehensive (loss) income | (2) |  |  | (18) |  |  | (2) |  |  | 14 |  |  | (8) |
Accumulated other comprehensive (loss) income at July 29, 2023 | $ | — |  |  | $ | (21) |  |  | $ | (21) |  |  | $ | 14 |  |  | $ | (28) |
Schedule of Reclassification Out of Accumulated Other Comprehensive Income | Items reclassified out of Accumulated other comprehensive (loss) income had the following impact on the Consolidated Statements of Operations:
(in millions) |  | 2023 |  | 2022 |  | 2021 |  | Affected Line Item on the Consolidated Statements of Operations
Pension and postretirement benefit plan obligations: |  |  |  |  |  |  |  |
Amortization of amounts included in net periodic benefit cost (income)(1) |  | $ | 3 |  |  | $ | 4 |  |  | $ | (1) |  |  | Net periodic benefit income, excluding service cost
Settlement gain |  | — |  |  | — |  |  | (17) |  |  | Net periodic benefit income, excluding service cost
Total reclassifications |  | 3 |  |  | 4 |  |  | (18) |  |  |
Income tax (benefit) expense |  | (1) |  |  | (2) |  |  | 4 |  |  | Provision for income taxes
Total reclassifications, net of tax |  | $ | 2 |  |  | $ | 2 |  |  | $ | (14) |  |  |
Swap agreements: |  |  |  |  |  |  |  |
Reclassification of cash flow hedge |  | $ | (12) |  |  | $ | 36 |  |  | $ | 46 |  |  | Interest expense, net
Income tax expense (benefit) |  | 3 |  |  | (10) |  |  | (12) |  |  | Provision for income taxes
Total reclassifications, net of tax |  | $ | (9) |  |  | $ | 26 |  |  | $ | 34 |  |  |
Other cash flow hedges: |  |  |  |  |  |  |  |
Reclassification of cash flow hedge |  | $ | (3) |  |  | $ | 2 |  |  | $ | (1) |  |  | Cost of sales
Income tax expense |  | 1 |  |  | — |  |  | — |  |  | Provision for income taxes
Total reclassifications, net of tax |  | $ | (2) |  |  | $ | 2 |  |  | $ | (1) |  |  |
(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 13—Benefit Plans.

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