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LONG-TERM DEBT (Tables)
 9 Months Ended
Apr. 27, 2024
Debt Disclosure [Abstract]  
Schedule of Debt
The Company’s long-term debt consisted of the following:
(in millions)
Average Interest Rate at
April 27, 2024
Fiscal Maturity YearApril 27,
2024		July 29,
2023
Term Loan Facility8.69%2026$645 $670 
ABL Credit Facility6.81%20271,026 812 
Senior Notes6.75%2029500 500 
Other secured loans4.43%20253 9 
Debt issuance costs, net(19)(22)
Original issue discount on debt(4)(6)
Long-term debt, including current portion2,151 1,963 
Less: current portion of long-term debt(3)(7)
Long-term debt$2,148 $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)April 27,
2024		July 29,
2023
Certain inventory assets included in Inventories, net$1,828 $1,861 
Certain receivables included in Accounts receivable, net563 571 
Pharmacy prescription files included in Intangible assets, net7 11 
Total$2,398 $2,443 
The Company’s unused credit under the ABL Credit Facility was as follows:
(in millions)April 27, 2024
Total availability for ABL loans and letters of credit$2,427 
ABL loans outstanding(1,026)
Letters of credit outstanding(176)
Unused credit$1,225 
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)April 27, 2024
Borrowers’ applicable margin for base rate loans
0.00% - 0.25%
0.25 %
Borrowers’ applicable margin for SOFR and BA loans(1)
1.00% - 1.25%
1.25 %
Unutilized commitment fees
0.20%
0.20 %
Letter of credit fees
1.125% - 1.375%
1.375 %
(1) The U.S. Borrower utilizes SOFR-based loans and the Canadian Borrower utilizes bankers’ acceptance rate-based loans.