XML 24 R11.htm IDEA: XBRL DOCUMENT v3.24.0.1
REVENUE RECOGNITION
 6 Months Ended
Jan. 27, 2024
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION
NOTE 3—REVENUE RECOGNITION

Disaggregation of Revenues

The Company records revenue to five customer channels within Net sales, which are described below:

•Chains, which consists of customer accounts that typically have more than 10 operating stores and excludes stores included within the Supernatural and Other channels defined below;
•Independent retailers, which includes smaller size accounts including single store and multiple store locations, and group purchasing entities that are not classified within Chains above or Other defined below;
•Supernatural, which consists of chain accounts that are national in scope and carry primarily natural products, and currently consists solely of one customer;
•Retail, which reflects the Company’s Retail segment, including Cub® Foods and Shoppers® stores; and
•Other, which includes international customers outside of Canada, foodservice, eCommerce, conventional military business and other sales.
The following tables detail the Company’s Net sales for the periods presented by customer channel for each of its segments. The Company does not record its revenues within its Wholesale reportable segment for financial reporting purposes by product group, and it is therefore impracticable for it to report them accordingly.
 Net Sales for the 13-Week Period Ended
(in millions)January 27, 2024
Customer ChannelWholesaleRetailOther
Eliminations(1)
Consolidated
Chains$3,266 $— $— $— $3,266 
Independent retailers1,907 — — — 1,907 
Supernatural1,751 — — — 1,751 
Retail— 631 — — 631 
Other563 — 52 — 615 
Eliminations— — — (395)(395)
Total$7,487 $631 $52 $(395)$7,775 
Net Sales for the 13-Week Period Ended
(in millions)
January 28, 2023
Customer ChannelWholesaleRetailOther
Eliminations(1)
Consolidated
Chains$3,322 $— $— $— $3,322 
Independent retailers1,980 — — — 1,980 
Supernatural1,659 — — — 1,659 
Retail— 660 — — 660 
Other553 — 56 — 609 
Eliminations— — — (414)(414)
Total$7,514 $660 $56 $(414)$7,816 
 Net Sales for the 26-Week Period Ended
(in millions)January 27, 2024
Customer ChannelWholesaleRetailOther
Eliminations(1)
Consolidated
Chains$6,450 $— $— $— $6,450 
Independent retailers3,806 — — — 3,806 
Supernatural3,363 — — — 3,363 
Retail— 1,237 — — 1,237 
Other1,149 — 112 — 1,261 
Eliminations— — — (790)(790)
Total$14,768 $1,237 $112 $(790)$15,327 
Net Sales for the 26-Week Period Ended
(in millions)
January 28, 2023
Customer ChannelWholesaleRetailOther
Eliminations(1)
Consolidated
Chains$6,546 $— $— $— $6,546 
Independent retailers3,927 — — — 3,927 
Supernatural3,172 — — — 3,172 
Retail— 1,273 — — 1,273 
Other1,128 — 116 — 1,244 
Eliminations— — — (814)(814)
Total$14,773 $1,273 $116 $(814)$15,348 
(1)Eliminations primarily includes the net sales elimination of Wholesale to Retail sales and the elimination of sales from segments included within Other to Wholesale.
The Company serves customers in the United States and Canada, as well as customers located in other countries. However, all of the Company’s revenue is earned in the United States and Canada, and international distribution occurs through freight-forwarders. The Company does not have any performance obligations on international shipments subsequent to delivery to the domestic port.

Accounts and Notes Receivable Balances

Accounts and notes receivable are as follows:
(in millions)January 27, 2024July 29, 2023
Customer accounts receivable$977 $887 
Allowance for uncollectible receivables (17)(17)
Other receivables, net30 19 
Accounts receivable, net$990 $889 
Notes receivable, net, included within Prepaid expenses and other current assets
$3 $3 
Long-term notes receivable, net, included within Other long-term assets
$7 $7 

In fiscal 2023, the Company entered into an agreement to sell, on a revolving basis, certain customer accounts receivable to a third-party financial institution. Accounts receivable that the Company is servicing on behalf of the financial institution, which would have otherwise been outstanding as of January 27, 2024 and July 29, 2023, was approximately $333 million and $310 million, respectively. Net proceeds received are included within cash from operating activities in the Condensed Consolidated Statements of Cash Flows in the period of sale. The loss on sale of receivables was $5 million for the second quarters of fiscal 2024 and 2023, and $10 million and $5 million for fiscal 2024 and 2023 year-to-date, respectively, and is recorded within Loss (gain) on sale of assets and other asset charges in the Condensed Consolidated Statements of Operations.