XML 58 R37.htm IDEA: XBRL DOCUMENT v3.24.3

LONG-TERM DEBT (Tables)

12 Months Ended

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

X

- References

No definition available.

+ Details

Name:	us-gaap_DebtDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 470
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-1

+ Details

Name:	us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration