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LONG-TERM DEBT (Tables) | 12 Months Ended
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Aug. 03, 2024
Debt Disclosure [Abstract] |
Schedule of Long-term Debt | The Company’s long-term debt consisted of the following:
(in millions) | Average Interest Rate at August 3, 2024 |  | Fiscal Maturity Year |  | August 3, 2024 |  | July 29, 2023
Term Loan Facility (1) | 10.09% |  | 2031 |  | $ | 499 |  |  | $ | 670 |
ABL Credit Facility (2) | 6.66% |  | 2027 |  | 1,113 |  |  | 812 |
Senior Notes (3) | 6.75% |  | 2029 |  | 500 |  |  | 500 |
Other secured loans | 4.43% |  | 2025 |  | 1 |  |  | 9 |
Debt issuance costs, net |  |  |  |  | (18) |  |  | (22) |
Original issue discount on debt |  |  |  |  | (10) |  |  | (6) |
Long-term debt, including current portion |  |  |  |  | 2,085 |  |  | 1,963 |
Less: current portion of long-term debt |  |  |  |  | (4) |  |  | (7) |
Long-term debt |  |  |  |  | $ | 2,081 |  |  | $ | 1,956 |
(1) Debt issuance costs of $6 million and $7 million, respectively and an original issue discount on debt of $10 million and $6 million, respectively. (2) Debt issuance costs of $7 million and $8 million, respectively. (3) Debt issuance costs of $5 million and $7 million, respectively.
Schedule of Maturities of Long-term Debt | Future maturities of long-term debt, excluding debt issuance costs and original issue and purchase accounting discounts on debt, and contractual interest payments based on the face value and applicable interest rate as of August 3, 2024, consist of the following (in millions):
Fiscal Year |  | Long-term debt maturity |  | Interest on long-term debt
2025 |  | $ | 6 |  |  | $ | 159 |
2026 |  | 5 |  |  | 159 |
2027 |  | 1,118 |  |  | 147 |
2028 |  | 5 |  |  | 83 |
2029 |  | 505 |  |  | 65 |
2030 and thereafter |  | 474 |  |  | 85 |
|  | $ | 2,113 |  |  | $ | 698 |
Schedule of Line of Credit Facilities | The applicable interest rates and letter of credit fees under the ABL Credit Facility are variable and are dependent upon the prior fiscal quarter’s daily average Availability (as defined in the ABL Loan Agreement), and were as follows:
| Range of Facility Rates and Fees (per annum) | August 3, 2024
Applicable margin for revolver base rate loans | 0.00% - 0.25% | 0.00 | %
Applicable margin for revolver SOFR and BA loans(1) | 1.00% - 1.25% | 1.00 | %
Applicable margin for FILO base rate loans | 1.50% | 1.50 | %
Applicable margin for FILO SOFR loans | 2.50% | 2.50 | %
Unutilized commitment fees | 0.20% | 0.20 | %
Letter of credit fees | 1.125% - 1.375% | 1.125 | %
(1) The Company utilizes SOFR-based loans and UNFI Canada utilizes bankers’ acceptance rate-based loans. The assets included in the Consolidated Balance Sheets securing the outstanding obligations under the ABL Credit Facility on a first-priority basis were as follows:
(in millions) | August 3, 2024 |  | July 29, 2023
Certain inventory assets included in Inventories, net | $ | 1,915 |  |  | $ | 1,861 |
Certain receivables included in Accounts receivable, net | 611 |  |  | 571 |
Pharmacy prescription files included in Intangible assets, net | 6 |  |  | 11 |
Total | $ | 2,532 |  |  | $ | 2,443 |
The Company’s unused credit under the ABL Credit Facility was as follows:
(in millions) | August 3, 2024
Total availability for ABL loans and letters of credit | $ | 2,524 |
ABL loans outstanding | 1,113 |
Letters of credit outstanding | 176 |
Unused credit | $ | 1,235 |

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- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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