DERIVATIVES (Tables)

9 Months Ended

May 02, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

Details of outstanding swap contracts as of May 2, 2020, which are all pay fixed and receive floating, are as follows:

Effective Date	Swap Maturity	Outstanding Notional Value (in millions)		Pay Fixed Rate		Receive Floating Rate(7)	Floating Rate Reset Terms
March 21, 2019	May 15, 2020	$	100.0	2.4490	%	One-Month LIBOR	Monthly
October 26, 2018	October 31, 2020	100.0		2.8240	%	One-Month LIBOR	Monthly
June 9, 2016	April 29, 2021	25.0		1.0650	%	One-Month LIBOR	Monthly
June 24, 2016	April 29, 2021	25.0		0.9260	%	One-Month LIBOR	Monthly
January 23, 2019	April 29, 2021	50.0		2.5500	%	One-Month LIBOR	Monthly
April 2, 2019	June 30, 2021	100.0		2.2520	%	One-Month LIBOR	Monthly
June 10, 2019	June 30, 2021	50.0		2.2290	%	One-Month LIBOR	Monthly
November 30, 2018	October 29, 2021	100.0		2.8084	%	One-Month LIBOR	Monthly
March 21, 2019	April 15, 2022	100.0		2.3645	%	One-Month LIBOR	Monthly
April 2, 2019	June 30, 2022	100.0		2.2170	%	One-Month LIBOR	Monthly
June 28, 2019	June 30, 2022	50.0		2.1840	%	One-Month LIBOR	Monthly
August 3, 2015(1)	August 15, 2022	55.5		1.7950	%	One-Month LIBOR	Monthly
August 3, 2015(2)	August 15, 2022	37.0		1.7950	%	One-Month LIBOR	Monthly
October 26, 2018	October 31, 2022	100.0		2.8915	%	One-Month LIBOR	Monthly
January 11, 2019	October 31, 2022	50.0		2.4678	%	One-Month LIBOR	Monthly
January 23, 2019	October 31, 2022	50.0		2.5255	%	One-Month LIBOR	Monthly
October 30, 2020(3)	October 31, 2022	—		0.4540	%	One-Month LIBOR	Monthly
November 16, 2018	March 31, 2023	150.0		2.8950	%	One-Month LIBOR	Monthly
January 23, 2019	March 31, 2023	50.0		2.5292	%	One-Month LIBOR	Monthly
April 29, 2021(4)	April 28, 2023	—		0.5680	%	One-Month LIBOR	Monthly
June 30, 2021(5)	June 30, 3023	—		0.6070	%	One-Month LIBOR	Monthly
November 30, 2018	September 30, 2023	50.0		2.8315	%	One-Month LIBOR	Monthly
October 29, 2021(6)	October 20, 2023	—		0.6810	%	One-Month LIBOR	Monthly
October 26, 2018	October 31, 2023	100.0		2.9210	%	One-Month LIBOR	Monthly
January 11, 2019	March 28, 2024	100.0		2.4770	%	One-Month LIBOR	Monthly
January 23, 2019	March 28, 2024	100.0		2.5420	%	One-Month LIBOR	Monthly
November 30, 2018	October 31, 2024	100.0		2.8480	%	One-Month LIBOR	Monthly
January 11, 2019	October 31, 2024	100.0		2.5010	%	One-Month LIBOR	Monthly
January 24, 2019	October 31, 2024	50.0		2.5210	%	One-Month LIBOR	Monthly
October 26, 2018	October 22, 2025	50.0		2.9550	%	One-Month LIBOR	Monthly
November 16, 2018	October 22, 2025	50.0		2.9590	%	One-Month LIBOR	Monthly
November 16, 2018	October 22, 2025	50.0		2.9580	%	One-Month LIBOR	Monthly
January 24, 2019	October 22, 2025	50.0		2.5558	%	One-Month LIBOR	Monthly
		$	2,092.5

(1) On March 31, 2015, the Company amended the original contract to reduce the beginning notional principal amount from $140.0 million to $84.0 million. The swap contract has an amortizing notional principal amount which is reduced by $1.5 million on a quarterly basis.

(2) The swap contract has an amortizing notional principal amount which is reduced by $1.0 million on a quarterly basis.

(3) This forward starting swap contract has a notional principal amount of $100.0 million.

(4) This forward starting swap contract has a notional principal amount of $100.0 million.

(5) This forward starting swap contract has a notional principal amount of $150.0 million.

(6) This forward starting swap contract has a notional principal amount of $100.0 million.

(7)

For these swap contracts that are indexed to LIBOR, the Company is monitoring and evaluating risks related to the expected future cessation of LIBOR.

Schedule of Interest Rate Derivatives

The location and amount of gains or losses recognized in the Condensed Consolidated Statements of Operations for interest rate swap contracts for each of the periods, presented on a pretax basis, are as follows:

	13-Week Period Ended					39-Week Period Ended
	May 2, 2020			April 27, 2019		May 2, 2020			April 27, 2019
(In thousands)	Interest Expense, net					Interest Expense, net
Total amounts of expense line items presented in the Condensed Consolidated Statements of Operations in which the effects of cash flow hedges are recorded	$	47,108		$	54,917	$	145,247		$	121,149
(Loss) or gain on cash flow hedging relationships:
(Loss) or gain reclassified from comprehensive income into income	$	(6,191	)	$	15	$	(12,812	)	$	458
Gain or (loss) on interest rate swap contracts not designated as hedging instruments:
Gain or (loss) recognized as interest expense	$	—		$	51	$	—		$	(15	)