NOTE 9—COMPREHENSIVE LOSS AND ACCUMULATED OTHER COMPREHENSIVE LOSS
Changes in Accumulated other comprehensive loss by component, net of tax, for fiscal 2025 year-to-date were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in millions) | | Other Cash Flow Derivatives | | Benefit Plans | | Foreign Currency Translation | | Swap Agreements | | Total | | Accumulated other comprehensive loss at August 3, 2024 | | $ | — | | | $ | (22) | | | $ | (24) | | | $ | (1) | | | $ | (47) | | | Other comprehensive income before reclassifications | | — | | | — | | | 1 | | | 4 | | | 5 | | | Amortization of amounts included in net periodic benefit income | | — | | | 1 | | | — | | | — | | | 1 | | | Amortization of cash flow hedges | | (1) | | | — | | | — | | | (5) | | | (6) | | | Net current period Other comprehensive (loss) income | | (1) | | | 1 | | | 1 | | | (1) | | | — | | | Accumulated other comprehensive loss at May 3, 2025 | | $ | (1) | | | $ | (21) | | | $ | (23) | | | $ | (2) | | | $ | (47) | | | | | | | | | | | | |
Changes in Accumulated other comprehensive loss by component, net of tax, for fiscal 2024 year-to-date were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in millions) | | Other Cash Flow Derivatives | | Benefit Plans | | Foreign Currency Translation | | Swap Agreements | | Total | | Accumulated other comprehensive (loss) income at July 29, 2023 | | $ | — | | | $ | (21) | | | $ | (21) | | | $ | 14 | | | $ | (28) | | | Other comprehensive income (loss) before reclassifications | | 1 | | | — | | | (2) | | | 7 | | | 6 | | | Amortization of amounts included in net periodic benefit income | | — | | | 1 | | | — | | | — | | | 1 | | | Amortization of cash flow hedges | | (1) | | | — | | | — | | | (11) | | | (12) | | | Net current period Other comprehensive income (loss) | | — | | | 1 | | | (2) | | | (4) | | | (5) | | | Accumulated other comprehensive (loss) income at April 27, 2024 | | $ | — | | | $ | (20) | | | $ | (23) | | | $ | 10 | | | $ | (33) | | | | | | | | | | | | |
Items reclassified out of Accumulated other comprehensive loss had the following impact on the Condensed Consolidated Statements of Operations: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 13-Week Period Ended | | 39-Week Period Ended | | Affected Line Item on the Condensed Consolidated Statements of Operations | | (in millions) | | May 3,
2025 | | April 27,
2024 | | May 3,
2025 | | April 27,
2024 | | | Pension and postretirement benefit plan net assets: | | | | | | | | | | | Amortization of amounts included in net periodic benefit income(1) | | $ | 1 | | | $ | 1 | | | $ | 1 | | | $ | 2 | | | Net periodic benefit income, excluding service cost | | Income tax benefit | | — | | | (1) | | | — | | | (1) | | | Benefit for income taxes | | Total reclassifications, net of tax | | $ | 1 | | | $ | — | | | $ | 1 | | | $ | 1 | | | | | | | | | | | | | | | | Swap agreements: | | | | | | | | | | | | Reclassification of cash flow hedges | | $ | (1) | | | $ | (5) | | | $ | (7) | | | $ | (15) | | | Interest expense, net | | Income tax expense | | — | | | 1 | | | 2 | | | 4 | | | Benefit for income taxes | | Total reclassifications, net of tax | | $ | (1) | | | $ | (4) | | | $ | (5) | | | $ | (11) | | | | | | | | | | | | | | | | Other cash flow hedges: | | | | | | | | | | | | Reclassification of cash flow hedge | | $ | — | | | $ | (1) | | | $ | (2) | | | $ | (1) | | | Cost of sales | | Income tax expense | | — | | | — | | | 1 | | | — | | | Benefit for income taxes | | Total reclassifications, net of tax | | $ | — | | | $ | (1) | | | $ | (1) | | | $ | (1) | | | |
(1) Reclassification of amounts included in net periodic benefit income include reclassification of prior service cost as reflected in Note 10—Benefit Plans.
As of May 3, 2025, the Company expects to reclassify $2 million related to unrealized derivative gains out of Accumulated other comprehensive loss and primarily into Interest expense, net during the following twelve-month period.
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