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LONG-TERM DEBT (Tables)

6 Months Ended

Jan. 27, 2024

Debt Disclosure [Abstract]

Schedule of Debt

The Company’s long-term debt consisted of the following:

(in millions)			Average Interest Rate at January 27, 2024						Fiscal Maturity Year						January 27, 2024						July 29, 2023
Term Loan Facility			8.72%						2026						$	645					$	670
ABL Credit Facility			6.56%						2027						1,054						812
Senior Notes			6.75%						2029						500						500
Other secured loans			4.43%						2025						4						9
Debt issuance costs, net															(18)						(22)
Original issue discount on debt															(5)						(6)
Long-term debt, including current portion															2,180						1,963
Less: current portion of long-term debt															(4)						(7)
Long-term debt															$	2,176					$	1,956

Schedule of Line of Credit Facilities

The assets included in the Condensed Consolidated Balance Sheets securing the outstanding obligations under the ABL Credit Facility on a first-priority basis were as follows:

(in millions)			January 27, 2024						July 29, 2023
Certain inventory assets included in Inventories, net			$	1,850					$	1,861
Certain receivables included in Accounts receivable, net			584						571
Pharmacy prescription files included in Intangible assets, net			8						11
Total			$	2,442					$	2,443

The Company’s unused credit under the ABL Credit Facility was as follows:

(in millions)			January 27, 2024
Total availability for ABL loans and letters of credit			$	2,600
ABL loans outstanding			(1,054)
Letters of credit outstanding			(150)
Unused credit			$	1,396

The applicable interest rates, unutilized commitment fees 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)			January 27, 2024
Borrowers’ applicable margin for base rate loans			0.00% - 0.25%			0.00		%
Borrowers’ applicable margin for SOFR and BA loans(1)			1.00% - 1.25%			1.00		%
Unutilized commitment fees			0.20%			0.20		%
Letter of credit fees			1.125% - 1.375%			1.125		%

(1) The U.S. Borrower utilizes SOFR-based loans and the Canadian Borrower utilizes bankers’ acceptance rate-based loans.

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- 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.

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No definition available.

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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
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(b),22(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

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