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REVENUE RECOGNITION | 6 Months Ended
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Jan. 28, 2023
Revenue from Contract with Customer [Abstract] |
REVENUE RECOGNITION | NOTE 3—REVENUE RECOGNITION Disaggregation of Revenues The Company records revenue to five customer channels within Net sales, which are described below: •Chains, which consists of customer accounts that typically have more than 10 operating stores and excludes stores included within the Supernatural and Other channels defined below; •Independent retailers, which includes smaller size accounts, including single store and multiple store locations, and group purchasing entities that are not classified within Chains above or Other discussed below; •Supernatural, which consists of chain accounts that are national in scope and carry primarily natural products, and currently consists solely of one customer; •Retail, which reflects the Company’s Retail segment, including Cub Foods and Shoppers stores, and •Other, which includes international customers outside of Canada, foodservice, eCommerce, conventional military business and other sales. The following tables detail the Company’s Net sales for the periods presented by customer channel for each of its segments. The Company does not record its revenues within its Wholesale reportable segment for financial reporting purposes by product group, and it is therefore impracticable for it to report them accordingly.
|  | Net Sales for the 13-Week Period Ended
(in millions) |  | January 28, 2023
Customer Channel |  | Wholesale |  | Retail |  | Other |  | Eliminations(1) |  | Consolidated
Chains |  | $ | 3,322 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 3,322 |
Independent retailers |  | 1,980 |  |  | — |  |  | — |  |  | — |  |  | 1,980 |
Supernatural |  | 1,659 |  |  | — |  |  | — |  |  | — |  |  | 1,659 |
Retail |  | — |  |  | 660 |  |  | — |  |  | — |  |  | 660 |
Other |  | 553 |  |  | — |  |  | 56 |  |  | — |  |  | 609 |
Eliminations |  | — |  |  | — |  |  | — |  |  | (414) |  |  | (414) |
Total |  | $ | 7,514 |  |  | $ | 660 |  |  | $ | 56 |  |  | $ | (414) |  |  | $ | 7,816 |
|  | Net Sales for the 13-Week Period Ended
(in millions) |  | January 29, 2022
Customer Channel |  | Wholesale |  | Retail |  | Other |  | Eliminations(1) |  | Consolidated
Chains |  | $ | 3,243 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 3,243 |
Independent retailers |  | 1,905 |  |  | — |  |  | — |  |  | — |  |  | 1,905 |
Supernatural |  | 1,453 |  |  | — |  |  | — |  |  | — |  |  | 1,453 |
Retail |  | — |  |  | 643 |  |  | — |  |  | — |  |  | 643 |
Other |  | 531 |  |  | — |  |  | 50 |  |  | — |  |  | 581 |
Eliminations |  | — |  |  | — |  |  | — |  |  | (409) |  |  | (409) |
Total |  | $ | 7,132 |  |  | $ | 643 |  |  | $ | 50 |  |  | $ | (409) |  |  | $ | 7,416 |
|  | Net Sales for the 26-Week Period Ended
(in millions) |  | January 28, 2023
Customer Channel |  | Wholesale |  | Retail |  | Other |  | Eliminations(1) |  | Consolidated
Chains |  | $ | 6,546 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 6,546 |
Independent retailers |  | 3,927 |  |  | — |  |  | — |  |  | — |  |  | 3,927 |
Supernatural |  | 3,172 |  |  | — |  |  | — |  |  | — |  |  | 3,172 |
Retail |  | — |  |  | 1,273 |  |  | — |  |  | — |  |  | 1,273 |
Other |  | 1,128 |  |  | — |  |  | 116 |  |  | — |  |  | 1,244 |
Eliminations |  | — |  |  | — |  |  | — |  |  | (814) |  |  | (814) |
Total |  | $ | 14,773 |  |  | $ | 1,273 |  |  | $ | 116 |  |  | $ | (814) |  |  | $ | 15,348 |
|  | Net Sales for the 26-Week Period Ended
(in millions) |  | January 29, 2022
Customer Channel |  | Wholesale |  | Retail |  | Other |  | Eliminations(1) |  | Consolidated
Chains |  | $ | 6,325 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 6,325 |
Independent retailers |  | 3,655 |  |  | — |  |  | — |  |  | — |  |  | 3,655 |
Supernatural |  | 2,831 |  |  | — |  |  | — |  |  | — |  |  | 2,831 |
Retail |  | — |  |  | 1,245 |  |  | — |  |  | — |  |  | 1,245 |
Other |  | 1,055 |  |  | — |  |  | 106 |  |  | — |  |  | 1,161 |
Eliminations |  | — |  |  | — |  |  | — |  |  | (804) |  |  | (804) |
Total |  | $ | 13,866 |  |  | $ | 1,245 |  |  | $ | 106 |  |  | $ | (804) |  |  | $ | 14,413 |
(1)Eliminations primarily includes the net sales elimination of Wholesale to Retail sales and the elimination of sales from segments included within Other to Wholesale. The Company serves customers in the United States and Canada, as well as customers located in other countries. However, all of the Company’s revenue is earned in the United States and Canada, and international distribution occurs through freight-forwarders. The Company does not have any performance obligations on international shipments subsequent to delivery to the domestic port. Accounts and Notes Receivable Balances Accounts and notes receivable are as follows:
(in millions) |  | January 28, 2023 |  | July 30, 2022
Customer accounts receivable |  | $ | 989 |  |  | $ | 1,213 |
Allowance for uncollectible receivables |  | (17) |  |  | (18) |
Other receivables, net |  | 20 |  |  | 19 |
Accounts receivable, net |  | $ | 992 |  |  | $ | 1,214 |
Notes receivable, net, included within Prepaid expenses and other current assets |  | $ | 5 |  |  | $ | 6 |
Long-term notes receivable, net, included within Other long-term assets |  | $ | 10 |  |  | $ | 12 |
During the second quarter of fiscal 2023, the Company entered into a purchase agreement with a third-party financial institution for the sale of certain customer accounts receivable up to a maximum outstanding amount of $300 million, without recourse, subject to eligibility criteria established by the financial institution. Pursuant to the terms of the agreement, certain customer receivables are sold to the third-party financial institution on a revolving basis, subject to certain limitations. After these sales, the Company does not retain any interest in the receivables. The Company’s continuing involvement in transferred receivables is limited to servicing the receivables. Accounts receivable that the Company is servicing on behalf of the financial institution, which would have otherwise been outstanding as of January 28, 2023, was approximately $292 million. Net proceeds received are included within net cash provided by operating activities in the Condensed Consolidated Statements of Cash Flows in the period of sale. The loss on sale of receivables was $5 million during the second quarter of fiscal 2023 and is recorded within Loss (gain) on sale of assets in the Condensed Consolidated Statements of Operations.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI https://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 + Details
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