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BUSINESS SEGMENTS
 9 Months Ended
Apr. 29, 2023
Segment Reporting [Abstract]  
BUSINESS SEGMENTS
NOTE 13—BUSINESS SEGMENTS

The Company has two reportable segments: Wholesale and Retail. These reportable segments are two distinct businesses, each with a different customer base, marketing strategy and management structure. The Company organizes and operates the Wholesale reportable segment through four U.S geographic regions: Atlantic; South; Central; and Pacific; and Canada Wholesale, which is operated separately from the U.S. Wholesale business. The U.S. Wholesale and Canada Wholesale operating segments have similar products and services, customer channels, distribution methods and economic characteristics, and therefore have been aggregated into a single reportable segment. Reportable segments are reviewed on an annual basis, or more frequently if events or circumstances indicate a change in reportable segments has occurred.

In the third quarter of fiscal 2023, the Company reversed previously accrued incentive compensation expense due to changes in expected financial performance in the third quarter of fiscal 2023 and recorded this adjustment within its business segments. This had the effect of removing previously allocated incentive compensation expense from fiscal 2023 year-to-date reportable segment Adjusted EBITDA.
The following table provides information by reportable segment, including Net sales, Adjusted EBITDA, with a reconciliation to Income before income taxes, depreciation and amortization, and payments for capital expenditures:
13-Week Period Ended39-Week Period Ended
 (in millions)April 29, 2023April 30, 2022April 29, 2023April 30, 2022
Net sales:
Wholesale(1)
$7,235 $6,977 $22,008 $20,843 
Retail598 602 1,871 1,847 
Other56 60 172 166 
Eliminations(382)(397)(1,196)(1,201)
Total Net sales$7,507 $7,242 $22,855 $21,655 
Adjusted EBITDA:
Wholesale$143 $171 $451 $522 
Retail18 14 66 68 
Other(1)11 33 27 
Eliminations(1)— (3)(1)
Adjustments:
Net income attributable to noncontrolling interests1 1 5 4 
Net periodic benefit income, excluding service cost8 10 22 30 
Interest expense, net(35)(37)(109)(121)
Other income, net1 1 2 2 
Depreciation and amortization(77)(72)(224)(210)
Share-based compensation(10)(10)(33)(33)
LIFO charge(33)(72)(83)(102)
Restructuring, acquisition and integration related benefits (expenses)4 (8)(1)(16)
(Loss) gain on sale of assets(4)88 — 87 
Multiemployer pension plan withdrawal benefit— — — 8 
Other retail benefit— — — 1 
Business transformation costs
(7)— (16)— 
Income before income taxes$7 $97 $110 $266 
Depreciation and amortization:
Wholesale$66 $64 $192 $186 
Retail9 7 27 22 
Other2 1 5 2 
Total depreciation and amortization$77 $72 $224 $210 
Payments for capital expenditures:
Wholesale$64 $47 $195 $145 
Retail3 5 23 13 
Total capital expenditures$67 $52 $218 $158 
(1)As presented in Note 3—Revenue Recognition, the Company recorded $319 million and $337 million for the third quarters of fiscal 2023 and 2022, respectively, and $1,006 million and $1,032 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.
Total assets by reportable segment were as follows:
(in millions)April 29, 2023July 30, 2022
Assets:
Wholesale$6,656 $6,733 
Retail647 599 
Other375 335 
Eliminations(37)(39)
Total assets$7,641 $7,628