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BUSINESS SEGMENTS (Tables)

9 Months Ended

Apr. 29, 2023

Segment Reporting [Abstract]

Schedule of Business Segment Information

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 Ended												39-Week Period Ended
(in millions)						April 29, 2023						April 30, 2022						April 29, 2023						April 30, 2022
Net sales:
Wholesale(1)						$	7,235					$	6,977					$	22,008					$	20,843
Retail						598						602						1,871						1,847
Other						56						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
Retail						18						14						66						68
Other						(1)						11						33						27
Eliminations						(1)						—						(3)						(1)
Adjustments:
Net income attributable to noncontrolling interests						1						1						5						4
Net periodic benefit income, excluding service cost						8						10						22						30
Interest expense, net						(35)						(37)						(109)						(121)
Other income, net						1						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
Retail						9						7						27						22
Other						2						1						5						2
Total depreciation and amortization						$	77					$	72					$	224					$	210
Payments for capital expenditures:
Wholesale						$	64					$	47					$	195					$	145
Retail						3						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, 2023						July 30, 2022
Assets:
Wholesale						$	6,656					$	6,733
Retail						647						599
Other						375						335
Eliminations						(37)						(39)
Total assets						$	7,641					$	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
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-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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