BUSINESS SEGMENTS (Tables)

6 Months Ended

Jan. 27, 2024

Segment Reporting [Abstract]

Schedule of Business Segment Information

The following table provides information by reportable segment, including Net sales, Adjusted EBITDA, with a reconciliation to (Loss) income before income taxes, depreciation and amortization, and payments for capital expenditures:

	13-Week Period Ended				26-Week Period Ended
(in millions)	January 27, 2024		January 28, 2023		January 27, 2024		January 28, 2023
Net sales:
Wholesale(1)	$	7,487	$	7,514	$	14,768	$	14,773
Retail	631		660		1,237		1,273
Other	52		56		112		116
Eliminations	(395)		(414)		(790)		(814)
Total Net sales	$	7,775	$	7,816	$	15,327	$	15,348
Adjusted EBITDA:
Wholesale	$	118	$	137	$	235	$	308
Retail	8		28		7		48
Other	4		15		7		34
Eliminations	(2)		1		(4)		(2)
Adjustments:
Net income attributable to noncontrolling interests	1		3		1		4
Net periodic benefit income, excluding service cost	4		7		7		14
Interest expense, net	(40)		(39)		(75)		(74)
Other income, net	1		—		1		1
Depreciation and amortization	(74)		(73)		(152)		(147)
Share-based compensation	(10)		(11)		(16)		(23)
LIFO charge	(6)		(29)		(13)		(50)
Restructuring, acquisition and integration related expenses	(4)		(3)		(8)		(5)
(Loss) gain on sale of assets and other asset charges	(5)		(1)		(24)		4
Business transformation costs	(14)		(4)		(29)		(9)
Other adjustments	—		—		(4)		—
(Loss) income before income taxes	$	(19)	$	31	$	(67)	$	103
Depreciation and amortization:
Wholesale	$	66	$	62	$	133	$	126
Retail	8		10		16		18
Other	—		1		3		3
Total depreciation and amortization	$	74	$	73	$	152	$	147
Payments for capital expenditures:
Wholesale	$	64	$	74	$	135	$	131
Retail	3		10		6		20
Total capital expenditures	$	67	$	84	$	141	$	151

(1)As presented in Note 3—Revenue Recognition, the Company recorded $330 million and $353 million for the second quarters of fiscal 2024 and 2023, respectively, and $651 million and $687 million in fiscal 2024 and 2023 year-to-date, respectively, within Net sales in its Wholesale reportable segment attributable to Wholesale to Retail sales that have been eliminated upon consolidation.

Total assets by reportable segment were as follows:

(in millions)	January 27, 2024		July 29, 2023
Assets:
Wholesale	$	6,718	$	6,405
Retail	630		648
Other	372		377
Eliminations	(49)		(36)
Total assets	$	7,671	$	7,394