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BUSINESS SEGMENTS (Tables) | 6 Months Ended
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Jan. 28, 2023
Segment Reporting [Abstract] |
Schedule of Business Segment Information | The following table provides Net sales and Adjusted EBITDA by reportable segment and reconciles that information to consolidated Net sales and Income before income taxes, respectively:
|  | 13-Week Period Ended |  | 26-Week Period Ended
(in millions) |  | January 28, 2023 |  | January 29, 2022 |  | January 28, 2023 |  | January 29, 2022
Net sales: |  |  |  |  |  |  |  |
Wholesale(1) |  | $ | 7,514 |  |  | $ | 7,132 |  |  | $ | 14,773 |  |  | $ | 13,866 |
Retail |  | 660 |  |  | 643 |  |  | 1,273 |  |  | 1,245 |
Other |  | 56 |  |  | 50 |  |  | 116 |  |  | 106 |
Eliminations |  | (414) |  |  | (409) |  |  | (814) |  |  | (804) |
Total Net sales |  | $ | 7,816 |  |  | $ | 7,416 |  |  | $ | 15,348 |  |  | $ | 14,413 |
Adjusted EBITDA: |  |  |  |  |  |  |  |
Wholesale(2) |  | $ | 137 |  |  | $ | 176 |  |  | $ | 308 |  |  | $ | 351 |
Retail(2) |  | 28 |  |  | 32 |  |  | 48 |  |  | 54 |
Other |  | 15 |  |  | 12 |  |  | 34 |  |  | 16 |
Eliminations |  | 1 |  |  | — |  |  | (2) |  |  | (1) |
Adjustments: |  |  |  |  |  |  |  |
Net income attributable to noncontrolling interests |  | 3 |  |  | 2 |  |  | 4 |  |  | 3 |
Net periodic benefit income, excluding service cost |  | 7 |  |  | 10 |  |  | 14 |  |  | 20 |
Interest expense, net |  | (39) |  |  | (44) |  |  | (74) |  |  | (84) |
Other income, net |  | — |  |  | 2 |  |  | 1 |  |  | 1 |
Depreciation and amortization |  | (73) |  |  | (69) |  |  | (147) |  |  | (138) |
Share-based compensation |  | (11) |  |  | (12) |  |  | (23) |  |  | (23) |
LIFO charge(2) |  | (29) |  |  | (19) |  |  | (50) |  |  | (30) |
Restructuring, acquisition and integration related expenses |  | (3) |  |  | (5) |  |  | (5) |  |  | (8) |
(Loss) gain on sale of assets |  | (1) |  |  | (1) |  |  | 4 |  |  | (1) |
Multiemployer pension plan withdrawal benefit |  | — |  |  | 8 |  |  | — |  |  | 8 |
Other retail benefit |  | — |  |  | 1 |  |  | — |  |  | 1 |
Business transformation costs |  | (4) |  |  | — |  |  | (9) |  |  | — |
Income before income taxes |  | $ | 31 |  |  | $ | 93 |  |  | $ | 103 |  |  | $ | 169 |
Depreciation and amortization: |  |  |  |  |  |  |  |
Wholesale |  | $ | 62 |  |  | $ | 61 |  |  | $ | 126 |  |  | $ | 122 |
Retail |  | 10 |  |  | 8 |  |  | 18 |  |  | 15 |
Other |  | 1 |  |  | — |  |  | 3 |  |  | 1 |
Total depreciation and amortization |  | $ | 73 |  |  | $ | 69 |  |  | $ | 147 |  |  | $ | 138 |
Payments for capital expenditures: |  |  |  |  |  |  |  |
Wholesale |  | $ | 74 |  |  | $ | 46 |  |  | $ | 131 |  |  | $ | 98 |
Retail |  | 10 |  |  | 4 |  |  | 20 |  |  | 8 |
Total capital expenditures |  | $ | 84 |  |  | $ | 50 |  |  | $ | 151 |  |  | $ | 106 |
(1)As presented in Note 3—Revenue Recognition, the Company recorded $353 million and $356 million for the second quarters of fiscal 2023 and 2022, respectively, and $687 million and $695 million in fiscal 2023 and 2022 year-to-date, respectively, within Net sales in its Wholesale reportable segment attributable to Wholesale to Retail sales that have been eliminated upon consolidation. (2)As a result of the segment profit measurement revision discussed above, previously reported Adjusted EBITDA disclosures by segment and the reconciliation to Income before income taxes has been recast to exclude the impact of the non-cash LIFO charge. Total assets by reportable segment were as follows:
(in millions) |  | January 28, 2023 |  | July 30, 2022
Assets: |  |  |  |
Wholesale |  | $ | 6,684 |  |  | $ | 6,733 |
Retail |  | 637 |  |  | 599 |
Other |  | 352 |  |  | 335 |
Eliminations |  | (38) |  |  | (39) |
Total assets |  | $ | 7,635 |  |  | $ | 7,628 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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