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FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS
 12 Months Ended
Aug. 02, 2025
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS
NOTE 7—FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS

Recurring Fair Value Measurements

The following tables provide the fair value hierarchy for financial assets and liabilities measured on a recurring basis:
Fair Value at August 2, 2025
(in millions)
Consolidated Balance Sheets Location
Level 1Level 2Level 3
Assets:
Interest rate swaps designated as hedging instruments
Prepaid expenses and other current assets$— $1 $— 
Liabilities:
Interest rate swaps designated as hedging instruments
Other long-term liabilities$— $3 $— 

Fair Value at August 3, 2024
(in millions)
Consolidated Balance Sheets Location
Level 1Level 2Level 3
Assets:
Interest rate swaps designated as hedging instrumentsPrepaid expenses and other current assets$— $5 $— 
Foreign currency derivatives designated as hedging instrumentsPrepaid expenses and other current assets$— $1 $— 
Liabilities:
Fuel derivatives designated as hedging instruments
Accrued expenses and other current liabilities$— $2 $— 
Interest rate swaps designated as hedging instruments
Other long-term liabilities$— $5 $— 

Interest Rate Swap Contracts

The fair values of interest rate swap contracts are measured using Level 2 inputs. The interest rate swap contracts are valued using an income approach interest rate swap valuation model incorporating observable market inputs including interest rates, Secured Overnight Financing Rate (“SOFR”) swap rates and credit default swap rates. Refer to Note 8—Derivatives for further information on interest rate swap contracts.

Fuel Supply Agreements and Derivatives

To reduce diesel fuel price risk, the Company has entered into derivative financial instruments and/or forward purchase commitments for a portion of our projected monthly diesel fuel requirements at fixed prices. The fair values of fuel derivative agreements are measured using Level 2 inputs.
Foreign Exchange Derivatives

To reduce foreign exchange risk, the Company has entered into derivative financial instruments for a portion of our projected monthly foreign currency requirements at fixed prices. The fair values of foreign exchange derivatives are measured using Level 2 inputs.

Fair Value Estimates

For certain of the Company’s financial instruments including cash and cash equivalents, receivables, accounts payable, accrued vacation, compensation and benefits, and other current assets and liabilities the fair values approximate carrying amounts due to their short maturities. The fair value of notes receivable is estimated by using a discounted cash flow approach prior to consideration for uncollectible amounts and is calculated by applying a market rate for similar instruments using Level 3 inputs. The fair value of debt is estimated based on market quotes, where available, or market values for similar instruments, using Level 2 and 3 inputs. In the table below, the carrying value of the Company’s long-term debt is net of original issue discounts and debt issuance costs. Refer to Note 1—Significant Accounting Policies for additional information regarding the fair value hierarchy.
 August 2, 2025August 3, 2024
(in millions)Carrying ValueFair ValueCarrying ValueFair Value
Notes receivable, including current portion$13 $8 $14 $8 
Long-term debt, including current portion$1,862 $1,882 $2,085 $2,072