Document and Entity Information
Document and Entity Information Document - USD ($) | 12 Months Ended | ||
Aug. 02, 2015 | Sep. 15, 2015 | Jan. 30, 2015 | |
Entity Information [Line Items] | |||
Entity Registrant Name | CAMPBELL SOUP CO | ||
Entity Central Index Key | 16,732 | ||
Current Fiscal Year End Date | --08-02 | ||
Entity Filer Category | Large Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | Aug. 2, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Common Stock, Shares Outstanding | 309,777,647 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 8,888,874,209 |
Consolidated Statements of Earn
Consolidated Statements of Earnings - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Net sales | $ 8,082 | $ 8,268 | $ 8,052 |
Costs and expenses | |||
Cost of products sold | 5,277 | 5,370 | 5,140 |
Marketing and selling expenses | 878 | 935 | 947 |
Administrative expenses | 593 | 573 | 677 |
Research and development expenses | 113 | 121 | 128 |
Other expenses / (income) | 24 | 22 | 29 |
Restructuring charges | 102 | 55 | 51 |
Total costs and expenses | 6,987 | 7,076 | 6,972 |
Earnings before interest and taxes | 1,095 | 1,192 | 1,080 |
Interest expense | 108 | 122 | 135 |
Interest income | 3 | 3 | 10 |
Earnings before taxes | 990 | 1,073 | 955 |
Taxes on earnings | 299 | 347 | 275 |
Earnings from continuing operations | 691 | 726 | 680 |
Earnings (loss) from discontinued operations | 0 | 81 | (231) |
Net earnings | 691 | 807 | 449 |
Less: Net earnings (loss) attributable to noncontrolling interests | 0 | (11) | (9) |
Net earnings attributable to Campbell Soup Company | $ 691 | $ 818 | $ 458 |
Per Share - Basic | |||
Earnings from continuing operations attributable to Campbell Soup Company | $ 2.21 | $ 2.35 | $ 2.19 |
Earnings (loss) from discontinued operations | 0 | 0.26 | (0.74) |
Net earnings attributable to Campbell Soup Company | $ 2.21 | $ 2.61 | $ 1.46 |
Weighted average shares outstanding - basic | 312 | 314 | 314 |
Per Share - Assuming Dilution | |||
Earnings from continuing operations attributable to Campbell Soup Company | $ 2.21 | $ 2.33 | $ 2.17 |
Earnings (loss) from discontinued operations | 0 | 0.26 | (0.73) |
Net earnings attributable to Campbell Soup Company | $ 2.21 | $ 2.59 | $ 1.44 |
Weighted average shares outstanding - assuming dilution | 313 | 316 | 317 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | |||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | ||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax [Abstract] | ||||
Foreign currency translation adjustments, before tax | $ (324) | $ (12) | $ (95) | |
Reclassification of currency translation adjustments realized upon disposal of business, before tax | 0 | (22) | 0 | |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax [Abstract] | ||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | (5) | (12) | 20 | |
Reclassification adjustment for (gains) losses included in net earnings, before tax | (1) | 0 | 4 | |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax, [Abstract] | ||||
Net actuarial gain (loss) arising during the period, before tax | (124) | (55) | 322 | |
Reclassification of prior service credit included in net earnings, before tax | [1] | (2) | (2) | (2) |
Reclassification of net actuarial loss included in net earnings before tax | [1] | 98 | 113 | 124 |
Other comprehensive income (loss), before tax | (358) | 10 | 373 | |
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax [Abstract] | ||||
Foreign currency translation adjustments, tax (expense) benefit | 1 | (1) | 3 | |
Reclassification of currency translation adjustments realized upon disposal of business, tax (expense) benefit | 0 | 3 | 0 | |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax Effect [Abstract] | ||||
Unrealized gains (losses) arising during the period, tax (expense) benefit | 3 | 4 | (8) | |
Reclassification adjustment for (gains) losses included in net earnings, tax (expense) benefit | 1 | 0 | (1) | |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax [Abstract] | ||||
Net actuarial gain (loss) arising during the period, tax (expense) benefit | 47 | 20 | (103) | |
Reclassification of prior service credit included in net earnings, tax (expense) benefit | 0 | 0 | 0 | |
Reclassification of net actuarial loss included in net earnings, tax (expense) benefit | (35) | (39) | (54) | |
Other comprehensive income (loss), tax (expense) benefit | 17 | (13) | (163) | |
Other comprehensive income (loss), after-tax [Abstract] | ||||
Net earnings | 691 | 807 | 449 | |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax [Abstract] | ||||
Foreign currency translation adjustments, after-tax | (323) | (13) | (92) | |
Reclassification of currency translation adjustments realized upon disposal of business, after-tax | 0 | (19) | 0 | |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax [Abstract] | ||||
Unrealized gains (losses) arising during the period, after-tax | (2) | (8) | 12 | |
Reclassification adjustment for (gains) losses included in net earnings, after-tax | 0 | 0 | 3 | |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax [Abstract] | ||||
Net actuarial gain (loss) arising during the period, after-tax | (77) | (35) | 219 | |
Reclassification of prior service credit included in net earnings, after-tax | (2) | (2) | (2) | |
Reclassification of net actuarial loss included in net earnings, after-tax | 63 | 74 | 70 | |
Other comprehensive income (loss), after tax | (341) | (3) | 210 | |
Total comprehensive income (loss), after-tax | 350 | 804 | 659 | |
Total comprehensive income (loss) attributable to noncontrolling interests | (1) | (10) | (10) | |
Total comprehensive income (loss) attributable to Campbell Soup Company | $ 351 | $ 814 | $ 669 | |
[1] | In 2014, net actuarial losses of $2 were recognized in Earnings (loss) from discontinued operations as a result of the sale of the European simple meals business. Excluding the net actuarial losses related to the sale of the business in 2014, these items are included in the components of net periodic benefit costs (see Note 11 for additional details). |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) shares in Millions, $ in Millions | Aug. 02, 2015 | Aug. 03, 2014 |
Current assets | ||
Cash and cash equivalents | $ 253 | $ 232 |
Accounts receivable, net | 647 | 670 |
Inventories | 993 | 1,016 |
Other current assets | 199 | 182 |
Total current assets | 2,092 | 2,100 |
Plant assets, net of depreciation | 2,347 | 2,318 |
Goodwill | 2,344 | 2,433 |
Other intangible assets, net of amortization | 1,205 | 1,175 |
Other assets | 101 | 87 |
Total assets | 8,089 | 8,113 |
Current liabilities | ||
Short-term borrowings | 1,543 | 1,771 |
Payable to suppliers and others | 544 | 527 |
Accrued liabilities | 589 | 553 |
Dividend payable | 101 | 101 |
Accrued income taxes | 29 | 37 |
Total current liabilities | 2,806 | 2,989 |
Long-term debt | 2,552 | 2,244 |
Deferred taxes | 505 | 548 |
Other liabilities | 850 | 729 |
Total liabilities | $ 6,713 | $ 6,510 |
Commitments and contingencies | ||
Campbell Soup Company shareholders' equity | ||
Preferred stock; authorized 40 shares; none issued | $ 0 | $ 0 |
Capital stock, $.0375 par value; authorized 560 shares; issued 323 shares | 12 | 12 |
Additional paid-in capital | 339 | 330 |
Earnings retained in the business | 2,494 | 2,198 |
Capital stock in treasury, at cost | (556) | (356) |
Accumulated other comprehensive loss | (909) | (569) |
Total Campbell Soup Company shareholders' equity | 1,380 | 1,615 |
Noncontrolling interests | (4) | (12) |
Total equity | 1,376 | 1,603 |
Total liabilities and equity | $ 8,089 | $ 8,113 |
Preferred Stock, Shares Authorized | 40 | 40 |
Preferred Stock, Shares Issued | 0 | 0 |
Common Stock, Par or Stated Value Per Share | $ 0.0375 | $ 0.0375 |
Capital Stock, Shares Authorized | 560 | 560 |
Common Stock, Shares, Issued | 323 | 323 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Cash flows from operating activities: | |||
Net earnings | $ 691 | $ 807 | $ 449 |
Adjustments to reconcile net earnings to operating cash flow | |||
Impairment charge | 0 | 0 | 396 |
Restructuring charges | 102 | 55 | 51 |
Stock-based compensation | 57 | 57 | 113 |
Depreciation and amortization | 303 | 305 | 407 |
Deferred income taxes | (33) | 11 | (171) |
Gain on sale of business | 0 | (141) | 0 |
Other, net | 94 | 118 | 155 |
Changes in working capital, net of acquisitions | |||
Accounts receivable | 12 | (38) | (48) |
Inventories | (14) | (56) | (146) |
Prepaid assets | 10 | (22) | 5 |
Accounts payable and accrued liabilities | 6 | (93) | (69) |
Pension fund contributions | (5) | (47) | (87) |
Receipts from (payments of) hedging activities | 11 | (4) | 22 |
Other | (52) | (53) | (58) |
Net cash provided by operating activities | 1,182 | 899 | 1,019 |
Cash flows from investing activities: | |||
Purchases of plant assets | (380) | (347) | (336) |
Sales of plant assets | 15 | 22 | 5 |
Businesses acquired, net of cash acquired | (232) | (329) | (1,806) |
Sale of business, net of cash divested | 0 | 520 | 0 |
Other, net | (6) | 0 | (17) |
Net cash used in investing activities | (603) | (134) | (2,154) |
Cash flows from financing activities: | |||
Net short-term borrowings | 100 | 208 | 825 |
Long-term borrowings (repayments) | 300 | (2) | 1,250 |
Repayments of notes payable | (309) | (700) | (400) |
Dividends paid | (394) | (391) | (367) |
Treasury stock purchases | (244) | (76) | (153) |
Treasury stock issuances | 9 | 18 | 83 |
Excess tax benefits on stock-based compensation | 6 | 13 | 12 |
Contributions from noncontrolling interest | 9 | 5 | 3 |
Other, net | (3) | 0 | (16) |
Net cash provided by (used in) financing activities | (526) | (925) | 1,237 |
Effect of exchange rate changes on cash | (32) | (9) | (36) |
Net change in cash and cash equivalents | 21 | (169) | 66 |
Cash and cash equivalents continuing operations - beginning of period | 232 | 333 | 335 |
Cash and cash equivalents discontinued operations - beginning of period | 0 | 68 | 0 |
Cash and cash equivalents discontinued operations - end of period | 0 | 0 | (68) |
Cash and cash equivalents continuing operations - end of period | $ 253 | $ 232 | $ 333 |
Consolidated Statements of Equi
Consolidated Statements of Equity - USD ($) shares in Millions, $ in Millions | Total | Capital Stock Issued [Member] | Capital Stock In Treasury [Member] | Additional Paid-In Capital [Member] | Earnings Retained In The Business [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Noncontrolling Interests [Member] |
Capital stock, shares at Jul. 29, 2012 | 542 | (230) | |||||
Balance, value at Jul. 29, 2012 | $ 898 | $ 20 | $ (8,259) | $ 329 | $ 9,584 | $ (776) | $ 0 |
Contribution from noncontrolling interest | 3 | 3 | |||||
Net earnings (loss) | 449 | 458 | (9) | ||||
Other comprehensive income (loss) | 210 | 211 | (1) | ||||
Dividends | $ (371) | (371) | |||||
Dividends per share | $ 1.16 | ||||||
Treasury stock retired, shares | (219) | (219) | (219) | ||||
Treasury stock retired, value | $ 0 | $ 8 | $ 7,907 | 7,899 | |||
Treasury stock purchased, shares | (4) | ||||||
Treasury stock purchased, value | (153) | $ (153) | |||||
Treasury stock issued under management incentive and stock option plans, shares | 4 | ||||||
Treasury stock issued under management incentive and stock option plans, value | 174 | $ 141 | 33 | ||||
Capital stock, shares at Jul. 28, 2013 | 323 | (11) | |||||
Balance, value at Jul. 28, 2013 | 1,210 | $ 12 | $ (364) | 362 | 1,772 | (565) | (7) |
Contribution from noncontrolling interest | 5 | 5 | |||||
Net earnings (loss) | 807 | 818 | (11) | ||||
Other comprehensive income (loss) | (3) | (4) | 1 | ||||
Dividends | $ (392) | (392) | |||||
Dividends per share | $ 1.248 | ||||||
Treasury stock purchased, shares | (2) | ||||||
Treasury stock purchased, value | $ (76) | $ (76) | |||||
Treasury stock issued under management incentive and stock option plans, shares | 3 | ||||||
Treasury stock issued under management incentive and stock option plans, value | 52 | $ 84 | (32) | ||||
Capital stock, shares at Aug. 03, 2014 | 323 | (10) | |||||
Balance, value at Aug. 03, 2014 | 1,603 | $ 12 | $ (356) | 330 | 2,198 | (569) | (12) |
Contribution from noncontrolling interest | 9 | 9 | |||||
Net earnings (loss) | 691 | 691 | 0 | ||||
Other comprehensive income (loss) | (341) | (340) | (1) | ||||
Dividends | $ (395) | (395) | |||||
Dividends per share | $ 1.248 | ||||||
Treasury stock purchased, shares | (5) | ||||||
Treasury stock purchased, value | $ (244) | $ (244) | |||||
Treasury stock issued under management incentive and stock option plans, shares | 2 | ||||||
Treasury stock issued under management incentive and stock option plans, value | 53 | $ 44 | 9 | ||||
Capital stock, shares at Aug. 02, 2015 | 323 | (13) | |||||
Balance, value at Aug. 02, 2015 | $ 1,376 | $ 12 | $ (556) | $ 339 | $ 2,494 | $ (909) | $ (4) |
Basis of Presentation and Signi
Basis of Presentation and Significant Accounting Policies | 12 Months Ended |
Aug. 02, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Summary of Significant Accounting Policies In this Form 10-K, unless otherwise stated, the terms "we," "us", "our" and the "company" refer to Campbell Soup Company and its consolidated subsidiaries. We are a manufacturer and marketer of high-quality, branded convenience food products. Basis of Presentation — The consolidated financial statements include our accounts and entities in which we maintain a controlling financial interest. Intercompany transactions are eliminated in consolidation. Certain amounts in prior-year financial statements were reclassified to conform to the current-year presentation. Our fiscal year ends on the Sunday nearest July 31. There were 52 weeks in 2015 and 2013, and 53 weeks in 2014. Use of Estimates — Generally accepted accounting principles require management to make estimates and assumptions that affect assets, liabilities, revenues and expenses. Actual results could differ from those estimates. Revenue Recognition — Revenues are recognized when the earnings process is complete. This occurs when products are shipped in accordance with terms of agreements, title and risk of loss transfer to customers, collection is probable and pricing is fixed or determinable. Revenues are recognized net of provisions for returns, discounts and allowances. Certain sales promotion expenses, such as feature price discounts, in-store display incentives, cooperative advertising programs, new product introduction fees and coupon redemption costs, are classified as a reduction of sales. The recognition of costs for promotion programs involves the use of judgment related to performance and redemption estimates. Estimates are made based on historical experience and other factors. Costs are recognized either upon sale or when the incentive is offered, based on the program. Revenues are presented on a net basis for arrangements under which suppliers perform certain additional services. Cash and Cash Equivalents — All highly liquid debt instruments purchased with a maturity of three months or less are classified as cash equivalents. Inventories — All inventories are valued at the lower of average cost or market. Property, Plant and Equipment — Property, plant and equipment are recorded at historical cost and are depreciated over estimated useful lives using the straight-line method. Buildings and machinery and equipment are depreciated over periods not exceeding 45 years and 20 years, respectively. Assets are evaluated for impairment when conditions indicate that the carrying value may not be recoverable. Such conditions include significant adverse changes in business climate or a plan of disposal. Repairs and maintenance are charged to expense as incurred. Goodwill and Intangible Assets — Goodwill and intangible assets deemed to have indefinite lives are not amortized but rather are tested at least annually for impairment, or when circumstances indicate that the carrying amount of the asset may not be recoverable. Goodwill is tested for impairment at the reporting unit level. A reporting unit is an operating segment or a component of an operating segment. Goodwill is tested for impairment by either performing a qualitative evaluation or a two-step quantitative test. The qualitative evaluation is an assessment of factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. We may elect not to perform the qualitative assessment for some or all reporting units and perform a two-step quantitative impairment test. Fair value is determined based on discounted cash flow analyses. The discounted estimates of future cash flows include significant management assumptions such as revenue growth rates, operating margins, weighted average cost of capital, and future economic and market conditions. If the carrying value of the reporting unit exceeds fair value, goodwill is considered impaired. The amount of the impairment is the difference between the carrying value of the goodwill and the “implied” fair value, which is calculated as if the reporting unit had just been acquired and accounted for as a business combination. Indefinite-lived intangible assets are tested for impairment by comparing the fair value of the asset to the carrying value. Fair value is determined based on discounted cash flow analyses that include significant management assumptions such as revenue growth rates, weighted average cost of capital, and assumed royalty rates. If the fair value is less than the carrying value, the asset is reduced to fair value. See Note 6 for information on intangible assets and impairment charges recognized in 2013 and 2015. Derivative Financial Instruments — We use derivative financial instruments primarily for purposes of hedging exposures to fluctuations in foreign currency exchange rates, interest rates, commodities and equity-linked employee benefit obligations. We enter into these derivative contracts for periods consistent with the related underlying exposures, and the contracts do not constitute positions independent of those exposures. We do not enter into derivative contracts for speculative purposes and do not use leveraged instruments. Our derivative programs include strategies that qualify and strategies that do not qualify for hedge accounting treatment. To qualify for hedge accounting, the hedging relationship, both at inception of the hedge and on an ongoing basis, is expected to be highly effective in achieving offsetting changes in the fair value of the hedged risk during the period that the hedge is designated. All derivatives are recognized on the balance sheet at fair value. For derivatives that qualify for hedge accounting, on the date the derivative contract is entered into, we designate the derivative as a hedge of the fair value of a recognized asset or liability or a firm commitment (fair-value hedge), a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability (cash-flow hedge), or a hedge of a net investment in a foreign operation. Some derivatives may also be considered natural hedging instruments (changes in fair value act as economic offsets to changes in fair value of the underlying hedged item) and are not designated for hedge accounting. Changes in the fair value of a fair-value hedge, along with the gain or loss on the underlying hedged asset or liability (including losses or gains on firm commitments), are recorded in current-period earnings. The effective portion of gains and losses on cash-flow hedges are recorded in other comprehensive income (loss), until earnings are affected by the variability of cash flows. If the hedge is no longer effective, all changes in the fair value of the derivative are included in earnings each period until the instrument matures. If a derivative is used as a hedge of a net investment in a foreign operation, its changes in fair value, to the extent effective as a hedge, are recorded in other comprehensive income (loss). Any ineffective portion of designated hedges is recognized in current-period earnings. Changes in the fair value of derivatives that are not designated for hedge accounting are recognized in current-period earnings. Cash flows from derivative contracts are included in Net cash provided by operating activities. Advertising Production Costs — Advertising production costs are expensed in the period that the advertisement first takes place or when a decision is made not to use an advertisement. Research and Development Costs — The costs of research and development are expensed as incurred. Costs include expenditures for new product and manufacturing process innovation, and improvements to existing products and processes. Costs primarily consist of salaries, wages, consulting, and depreciation and maintenance of research facilities and equipment. Income Taxes — Deferred tax assets and liabilities are recognized for the future impact of differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases, as well as for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 12 Months Ended |
Aug. 02, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In December 2011, the Financial Accounting Standards Board (FASB) issued guidance related to disclosures about offsetting (netting) of assets and liabilities in the statement of financial position. The guidance requires entities to disclose gross information and net information about both instruments and transactions that are offset in the statement of financial position, and instruments and transactions subject to an agreement similar to a master netting arrangement. The scope includes financial instruments and derivative instruments. In January 2013, the FASB issued an amendment to the guidance to limit the scope of the new balance sheet offsetting disclosures to derivatives, repurchase agreements, and securities lending transactions to the extent that they are offset in the financial statements or subject to an enforceable master netting arrangement or similar arrangement. The disclosures were required for fiscal years, and interim periods within those years, beginning on or after January 1, 2013. We adopted the guidance in 2014. The adoption resulted in additional disclosures, but did not have an impact on our consolidated financial statements. See Note 14. In July 2012, the FASB issued revised guidance intended to simplify how an entity tests indefinite-lived intangible assets for impairment. The amendments will allow an entity first to assess qualitative factors to determine whether it is necessary to perform a quantitative impairment test. An entity will no longer be required to calculate the fair value of an indefinite-lived intangible asset and perform the quantitative test unless the entity determines, based on a qualitative assessment, that it is more likely than not that its fair value is less than its carrying amount. The amendments were effective for annual and interim indefinite-lived intangible asset impairment tests performed for fiscal years beginning after September 15, 2012. We adopted the guidance in 2014. The adoption did not have an impact on our consolidated financial statements. In February 2013, the FASB issued guidance for the recognition, measurement, and disclosure of certain obligations resulting from joint and several liability arrangements for which the total amount is fixed. Such obligations may include debt arrangements, legal settlements, and other contractual arrangements. The guidance was effective for fiscal years, and interim periods within those years, beginning after December 15, 2013, and should be applied retrospectively to all prior periods presented for those obligations within scope that existed as of the beginning of the fiscal year of adoption. We adopted the guidance in 2015. The adoption did not have an impact on our consolidated financial statements. In March 2013, the FASB issued guidance on the accounting for the cumulative translation adjustment upon derecognition of certain subsidiaries or groups of assets within a foreign entity or of an investment in a foreign entity. The guidance was effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2013. We adopted the guidance in 2015. The adoption did not have an impact on our consolidated financial statements. In July 2013, the FASB issued guidance on the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The guidance requires the netting of unrecognized tax benefits (UTBs) against a deferred tax asset for a loss or other carryforward that would apply in settlement of uncertain tax positions. Under the new standard, UTBs will be netted against all available same-jurisdiction loss or other tax carryforwards that would be utilized, rather than only against carryforwards that are created by the UTBs. The guidance was effective for fiscal years, and interim periods within those years, beginning after December 15, 2013, and should be applied prospectively to all UTBs that exist at the effective date. We adopted the guidance in 2015. The adoption did not have a material impact on our consolidated financial statements. In April 2014, the FASB issued revised guidance that modifies the criteria for determining which disposals can be presented as discontinued operations and requires additional disclosures. The guidance is effective for fiscal years beginning on or after December 15, 2014, and interim periods within those years. Early adoption is permitted. We will prospectively apply the guidance to applicable transactions. In May 2014, the FASB issued revised guidance on the recognition of revenue from contracts with customers. The guidance is designed to create greater comparability for financial statement users across industries and jurisdictions. The guidance also requires enhanced disclosures. The guidance was originally effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. In July 2015, the FASB decided to delay the effective date of the new revenue guidance by one year to fiscal years, and interim periods within those years, beginning after December 15, 2017. Entities will be permitted to adopt the new revenue standard early, but not before the original effective date. The guidance permits the use of either a full retrospective or modified retrospective transition method. We are currently evaluating the impact that the new guidance will have on our consolidated financial statements, as well as which transition method we will use. In April 2015, the FASB issued guidance that requires debt issuance costs to be presented in the balance sheet as a reduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. The guidance must be applied on a retrospective basis and is effective for fiscal years beginning after December 15, 2015, and interim periods within those years. Early adoption is permitted. We do not expect the adoption to have a material impact on our consolidated financial statements. In April 2015, the FASB issued guidance intended to provide a practical expedient for the measurement date of defined benefit plan assets and obligations. The practical expedient allows employers with fiscal year-end dates that do not fall on a calendar month-end to measure pension and postretirement benefit plan assets and obligations as of the calendar month-end date closest to the fiscal year-end.The guidance is effective for fiscal years beginning on or after December 15, 2015, and interim periods within those years. Early adoption is permitted. We adopted the guidance in connection with our 2015 measurement. The adoption did not have a material impact on our consolidated financial statements. In April 2015, the FASB issued guidance to clarify the accounting for fees paid by a customer in a cloud computing arrangement. The guidance is effective for fiscal years beginning on or after December 15, 2015, and interim periods within those years. Early adoption is permitted. The new guidance should be applied either prospectively to all arrangements entered into or materially modified after the effective date or retrospectively. We are currently evaluating the impact that the new guidance will have on our consolidated financial statements. In May 2015, the FASB issued guidance that eliminates the requirement to categorize investments measured using the net asset value (NAV) practical expedient in the fair value hierarchy table. Entities will be required to disclose the fair value of investments measured using the NAV practical expedient so that financial statement users can reconcile amounts reported in the fair value hierarchy table to amounts reported on the balance sheet. The new guidance will be applied retrospectively and is effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted. We adopted the guidance in 2015 and modified our disclosures in Note 11. |
Acquistions
Acquistions | 12 Months Ended |
Aug. 02, 2015 | |
Business Combinations [Abstract] | |
Acquisitions | Acquisitions On June 29, 2015, we completed the acquisition of the assets of Garden Fresh Gourmet for $232 , subject to post-closing adjustments. Garden Fresh Gourmet is a provider of refrigerated salsa in North America, and it is also produces hummus, dips and tortilla chips. The excess of the purchase price over the estimated fair values of identifiable net assets was recorded as $116 of goodwill. The goodwill is expected to be deductible for tax purposes. The goodwill was primarily attributable to future growth opportunities, anticipated synergies, and intangible assets that did not qualify for separate recognition. The goodwill is included in the Bolthouse and Foodservice segment. The acquisition of Garden Fresh Gourmet contributed $10 to Net sales and resulted in a decrease of $1 to Net earnings from June 29, 2015, through August 2, 2015. On August 8, 2013, we completed the acquisition of Kelsen. The final all-cash purchase price was $331 . Kelsen is a producer of quality baked snacks that are sold in approximately 85 countries around the world. Its primary brands include Kjeldsens and Royal Dansk . The excess of the purchase price over the estimated fair values of identifiable net assets was recorded as $140 of goodwill. The goodwill is not expected to be deductible for tax purposes. The goodwill was primarily attributable to future growth opportunities and intangible assets that did not qualify for separate recognition. The goodwill is included in the Global Baking and Snacking segment. The acquisition of Kelsen contributed $193 to Net sales and $8 to Net earnings from August 8, 2013, through August 3, 2014. On June 13, 2013, we completed the acquisition of Plum. The final all-cash purchase price was $249 . Plum is a leading provider of premium, organic foods and snacks that serve the nutritional needs of babies, toddlers and children. The acquisition of Plum contributed $88 to Net sales and resulted in a decrease of $19 to Net earnings for 2014. The 2014 results included $11 of after-tax costs incurred from a voluntary product recall (see Note 20 for additional details). The acquisition also contributed $14 to Net sales and resulted in a decrease of $2 to Net earnings from June 13, 2013, through July 28, 2013. The excess of the purchase price over the estimated fair values of identifiable net assets was recorded as $128 of goodwill. The goodwill is not expected to be deductible for tax purposes. The goodwill was primarily attributable to future growth opportunities and intangible assets that did not qualify for separate recognition. The goodwill is included in the U.S. Simple Meals segment. On August 6, 2012, we completed the acquisition of Bolthouse Farms from a fund managed by Madison Dearborn Partners, LLC, a private equity firm, for $1,550 in cash, subject to customary purchase price adjustments. On August 6, 2012, the preliminary purchase price adjustments resulted in an increase in the purchase price of $20 . In the third quarter of 2013, the purchase price adjustments were finalized and reduced to $11 . Bolthouse Farms is a vertically integrated food and beverage company focused on developing, manufacturing and marketing fresh carrots and proprietary, high value-added products. The acquisition of Bolthouse Farms contributed $756 to Net sales and $18 to Net earnings from August 6, 2012 through July 28, 2013 . The company incurred transaction costs of $10 ( $7 after tax) in the first quarter of 2013 related to this acquisition. The costs were recorded in Other expenses/(income). The excess of the purchase price over the estimated fair values of identifiable net assets was recorded as $692 of goodwill. Of this amount, $284 is expected to be deductible for tax purposes. The goodwill was primarily attributable to future growth opportunities and any intangible assets that did not qualify for separate recognition. The goodwill is included in the Bolthouse and Foodservice segment. The acquired assets and assumed liabilities include the following: Garden Fresh Gourmet Kelsen Plum Bolthouse Farms Cash $ — $ 2 $ 1 $ 3 Accounts receivable 10 20 15 74 Inventories 5 50 20 122 Other current assets — 2 1 8 Plant assets 22 47 2 335 Goodwill 116 140 128 692 Other intangible assets 86 173 133 580 Other assets — — — 8 Short-term debt — (32 ) — (1 ) Accounts payable (6 ) (13 ) (12 ) (59 ) Accrued liabilities (1 ) (10 ) (5 ) (29 ) Long-term debt — (4 ) — (1 ) Deferred income taxes — (44 ) (34 ) (156 ) Other liabilities — — — (15 ) Total assets acquired and liabilities assumed $ 232 $ 331 $ 249 $ 1,561 The identifiable intangible assets of Garden Fresh Gourmet consist of $38 in non-amortizable trademarks, and $48 in customer relationships to be amortized over 20 years . The purchase price allocation is preliminary and is subject to the finalization of appraisals, which will be completed in 2016. The identifiable intangible assets of Kelsen consist of $147 in non-amortizable trademarks, $4 in amortizable trademarks to be amortized over 10 years and $22 in customer relationships to be amortized over 10 to 15 years . The identifiable intangible assets of Plum consist of $115 in non-amortizable trademarks and $18 in customer relationships to be amortized over 15 years . The identifiable intangible assets of Bolthouse consist of: Type Life in Years Value Trademarks Non-amortizable Indefinite $ 383 Customer relationships Amortizable 20 132 Distributor relationship Amortizable 7 2 Technology and patents Amortizable 9 to 17 43 Formula and recipes Amortizable 5 20 Total identifiable intangible assets $ 580 The following unaudited summary information is presented on a consolidated pro forma basis as if the Garden Fresh Gourmet acquisition had occurred on July 29, 2013, the Kelsen acquisition had occurred on July 30, 2012, and the Plum and Bolthouse acquisitions been completed on August 1, 2011: 2015 2014 2013 Net sales $ 8,174 $ 8,372 $ 8,327 Earnings from continuing operations attributable to Campbell Soup Company $ 693 $ 741 $ 684 Earnings per share from continuing operations attributable to Campbell Soup Company - assuming dilution $ 2.21 $ 2.34 $ 2.16 The pro forma amounts include transaction costs, additional interest expense on the debt issued to finance the purchases, amortization and depreciation expense based on the estimated fair value and useful lives of intangible assets and plant assets, and related tax effects. The pro forma results are not necessarily indicative of the combined results had the Garden Fresh Gourmet acquisition been completed on July 29, 2013, the Kelsen acquisition been completed on July 30, 2012, and the Plum and Bolthouse acquisitions been completed on August 1, 2011, nor are they indicative of future combined results. |
Discontinued Operations
Discontinued Operations | 12 Months Ended |
Aug. 02, 2015 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Discontinued Operations | Discontinued Operations On October 28, 2013, we completed the sale of our European simple meals business to Soppa Investments S.à r.l., an affiliate of CVC Capital Partners. The all-cash preliminary sale price was €400 , or $548 , and was subject to certain post-closing adjustments, which resulted in a $14 reduction of proceeds. We recognized a pre-tax gain of $141 ( $72 after tax, or $.23 per share) in 2014. The European business included Erasco and Heisse Tasse soups in Germany; Liebig and Royco soups in France; Devos Lemmens mayonnaise and cold sauces and Royco soups in Belgium; and Blå Band and Isomitta soups and sauces in Sweden. We used the proceeds from the sale to pay taxes on the sale, to reduce debt and for other general corporate purposes. In the fourth quarter of 2013, we recorded an impairment charge on the intangible assets of this business of $396 ( $263 after tax, or $.83 per share). In addition, we recorded $18 in tax expense ( $.06 per share) representing taxes on the difference between the book value and tax basis of the business. See Note 6 for additional information on the impairment charge. We have reflected the results of the European simple meals business as discontinued operations in the Consolidated Statements of Earnings. The business was historically included in the International Simple Meals and Beverages segment. Results of discontinued operations were as follows: 2014 2013 Net sales $ 137 $ 532 Gain on sale of the European simple meals business $ 141 $ — Impairment on the European simple meals business — (396 ) Earnings from operations, before taxes 14 65 Earnings (loss) before taxes $ 155 $ (331 ) Taxes on earnings (74 ) 100 Earnings (loss) from discontinued operations $ 81 $ (231 ) |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 12 Months Ended |
Aug. 02, 2015 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income | Accumulated Other Comprehensive Income (Loss) The components of Accumulated other comprehensive income (loss) consisted of the following: Foreign Currency Translation Adjustments (1) Gains (Losses) on Cash Flow Hedges (2) Pension and Postretirement Benefit Plan Adjustments (3) Total Accumulated Comprehensive Income (Loss) Balance at July 28, 2013 $ 170 $ 5 $ (740 ) $ (565 ) Other comprehensive income (loss) before reclassifications (14 ) (8 ) (35 ) (57 ) Amounts reclassified from accumulated other comprehensive income (loss) (19 ) — 72 53 Net current-period other comprehensive income (loss) (33 ) (8 ) 37 (4 ) Balance at August 3, 2014 $ 137 $ (3 ) $ (703 ) $ (569 ) Other comprehensive income (loss) before reclassifications (322 ) (2 ) (77 ) (401 ) Amounts reclassified from accumulated other comprehensive income (loss) — — 61 61 Net current-period other comprehensive income (loss) (322 ) (2 ) (16 ) (340 ) Balance at August 2, 2015 $ (185 ) $ (5 ) $ (719 ) $ (909 ) _____________________________________ (1) Included a tax expense of $6 as of August 2, 2015 , $7 as of August 3, 2014 , and $9 as of July 28, 2013 . The amount reclassified from other comprehensive income was related to the divestiture of the European simple meals business and was included in Earnings (loss) from discontinued operations. (2) Included a tax benefit of $5 as of August 2, 2015 , $1 as of August 3, 2014 , and a tax expense of $3 as of July 28, 2013 . (3) Included a tax benefit of $417 as of August 2, 2015 , $405 as of August 3, 2014 , and $424 as of July 28, 2013 . The amount reclassified in 2014 from other comprehensive income included pre-tax settlement charges of $22 , or $14 after tax. Amounts related to noncontrolling interests were not material. The amounts reclassified from Accumulated other comprehensive income (loss) consisted of the following: Details about Accumulated Other Comprehensive Income (Loss) Components 2015 2014 2013 Location of (Gain) Loss Recognized in Earnings (Gains) losses on cash flow hedges: Foreign exchange forward contracts $ (4 ) $ (4 ) $ 1 Cost of products sold Foreign exchange forward contracts (1 ) 1 (1 ) Other expenses / (income) Forward starting interest rate swaps 4 3 4 Interest expense Total before tax (1 ) — 4 Tax expense (benefit) 1 — (1 ) (Gain) loss, net of tax $ — $ — $ 3 Pension and postretirement benefit adjustments: Prior service credit $ (2 ) $ (2 ) $ (2 ) (1) Net actuarial losses 98 113 124 (1) Total before tax 96 111 122 Tax expense (benefit) (35 ) (39 ) (54 ) (Gain) loss, net of tax $ 61 $ 72 $ 68 _____________________________________ (1) In 2014, net actuarial losses of $2 were recognized in Earnings (loss) from discontinued operations as a result of the sale of the European simple meals business. Excluding the net actuarial losses related to the sale of the business in 2014, these items are included in the components of net periodic benefit costs (see Note 11 for additional details). In 2014, a pre-tax loss of $22 ( $19 after tax) on foreign currency translation adjustments was also reclassified from Accumulated other comprehensive income. The loss was related to the divestiture of the European simple meals business and was included in Earnings (loss) from discontinued operations. |
Goodwill And Intangible Assets
Goodwill And Intangible Assets | 12 Months Ended |
Aug. 02, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill The following table shows the changes in the carrying amount of goodwill by business segment: U.S. Simple Meals Global Baking and Snacking International Simple Meals and Beverages U.S. Beverages Bolthouse and Foodservice Total Balance at July 28, 2013 $ 450 $ 775 $ 122 $ 112 $ 838 $ 2,297 Acquisition — 140 — — — 140 Foreign currency translation adjustment — 3 (7 ) — — (4 ) Balance at August 3, 2014 $ 450 $ 918 $ 115 $ 112 $ 838 $ 2,433 Acquisition — — — — 116 116 Foreign currency translation adjustment — (186 ) (19 ) — — (205 ) Balance at August 2, 2015 $ 450 $ 732 $ 96 $ 112 $ 954 $ 2,344 In 2015, we acquired the assets of Garden Fresh Gourmet for $232 , subject to post-closing adjustments. Goodwill related to the acquisition was $116 . See Note 3. In 2014, we acquired Kelsen for $331 and goodwill related to the acquisition was $140 . See Note 3. On October 28, 2013, we completed the sale of our European simple meals business. The assets and liabilities of the European business have been reflected in assets and liabilities held for sale in the Consolidated Balance Sheet as of July 28, 2013. We have reflected the results of the business as discontinued operations in the Consolidated Statements of Earnings. In the fourth quarter of 2013, as part of our annual review of intangible assets, an impairment charge of $360 was recorded on goodwill for the simple meals business in Europe to reduce the carrying value to the implied fair value of $110 . The impairment was attributable to a combination of factors, including the existence of a firm offer to purchase the business; a revised future outlook for the business, with reduced expectations for future sales and discounted cash flows, given the economic uncertainty in the region; future investments required to maintain performance; and management's assumptions on the weighted average cost of capital. Fair value was determined based on discounted cash flow analyses. The discounted estimates of future cash flows include significant management assumptions such as revenue growth rates, operating margins, weighted average cost of capital, and future economic and market conditions. The impairment charge was recorded in Earnings (loss) from discontinued operations in the Consolidated Statements of Earnings. Intangible Assets The following table sets forth balance sheet information for intangible assets, excluding goodwill, subject to amortization and intangible assets not subject to amortization: Intangible Assets 2015 2014 Amortizable intangible assets Customer relationships $ 222 $ 178 Technology 40 40 Other 35 35 Total gross amortizable intangible assets $ 297 $ 253 Accumulated amortization (52 ) (35 ) Total net amortizable intangible assets $ 245 $ 218 Non-amortizable intangible assets Trademarks 960 957 Total net intangible assets $ 1,205 $ 1,175 Non-amortizable intangible assets consist of trademarks, which include Bolthouse Farms, Pace , Plum, Kjeldsens, Garden Fresh Gourmet and Royal Dansk . Other amortizable intangible assets consist of recipes, patents, trademarks and distributor relationships. Amortization of intangible assets of continuing operations was $17 for 2015 , $18 for 2014 and $14 for 2013 . Amortization expense for the next 5 years is estimated to be $20 in the fiscal periods 2016 and 2017, and $15 in 2018 through 2020. Asset useful lives range from 5 to 20 years. In the fourth quarter of 2015, as part of our annual review of intangible assets, we recognized an impairment charge of $6 related to minor trademarks used in the Global Baking and Snacking segment. The trademarks were determined to be impaired as a result of a decrease in the fair value of the brands, resulting from reduced expectations for future sales and discounted cash flows in comparison to the prior year. The impairment charge was recorded in Other expenses/(income) in the Consolidated Statements of Earnings. In the fourth quarter of 2013, as part of our annual review of intangible assets, we recognized an impairment charge of $36 related to certain trademarks of the European business held for sale, including Royco, Isomitta and Heisse Tasse . The trademarks were determined to be impaired as a result of a decrease in the fair value of the brands, resulting from reduced expectations for future sales and discounted cash flows as previously discussed. The impairment charge was recorded in Earnings (loss) from discontinued operations in the Consolidated Statements of Earnings. The discounted estimates of future cash flows used in determining the fair value of goodwill and intangible assets involve considerable management judgment and are based upon assumptions about expected future operating performance, economic conditions, market conditions and cost of capital. Inherent in estimating the future cash flows are uncertainties beyond our control, such as changes in capital markets. The actual cash flows could differ materially from management’s estimates due to changes in business conditions, operating performance and economic conditions. |
Business And Geographic Segment
Business And Geographic Segment Information | 12 Months Ended |
Aug. 02, 2015 | |
Segment Reporting [Abstract] | |
Business and Geographic Segment Information | Business and Geographic Segment Information Through 2015, we managed operations through 11 operating segments based on product type and geographic location and have aggregated the operating segments into the appropriate reportable segment based on similar economic characteristics; products; production processes; types or classes of customers; distribution methods; and regulatory environment. The reportable segments are discussed in greater detail below. The U.S. Simple Meals segment includes the following products: Campbell’s condensed and ready-to-serve soups; Swanson broth and stocks; Prego pasta sauces; Pace Mexican sauces; Campbell’s gravies, pasta, beans and dinner sauces; Swanson canned poultry; and as of June 13, 2013, Plum food and snacks. The Global Baking and Snacking segment aggregates the following operating segments: Pepperidge Farm cookies, crackers, bakery and frozen products in U.S. retail; Arnott’s biscuits in Australia and Asia Pacific; and as of August 8, 2013, Kelsen cookies globally. The International Simple Meals and Beverages segment aggregates the following operating segments: the retail business in Canada and the simple meals and beverages business in Asia Pacific, Latin America, and China. The U.S. Beverages segment represents the U.S. retail beverages business, including the following products: V8 juices and beverages; and Campbell’s tomato juice. Bolthouse and Foodservice comprises the Bolthouse Farms carrot products operating segment (Farms), including fresh carrots, juice concentrate and fiber; the Bolthouse Farms refrigerated beverages and refrigerated salad dressings operating segment (CPG); the North America Foodservice operating segment; and as of June 29, 2015, the Garden Fresh Gourmet operating segment. The North America Foodservice operating segment represents the distribution of products such as soup, specialty entrées, beverage products, other prepared foods and Pepperidge Farm products through various food service channels in the U.S. and Canada. None of these operating segments meets the criteria for aggregation nor the thresholds for separate disclosure. Bolthouse Farms was acquired on August 6, 2012. We evaluate segment performance before interest, taxes and costs associated with restructuring activities. Unrealized gains and losses on commodity hedging activities are excluded from segment operating earnings and are recorded in Corporate expenses as these open positions represent hedges of future purchases. Upon closing of the contracts, the realized gain or loss is transferred to segment operating earnings, which allows the segments to reflect the economic effects of the hedge without exposure to quarterly volatility of unrealized gains and losses. Certain manufacturing, warehousing and distribution activities of the segments are integrated in order to maximize efficiency and productivity. As a result, asset information by segment is not discretely maintained for internal reporting or used in evaluating performance. Therefore, only geographic segment asset information is included in the disclosure. On January 29, 2015, we announced plans to implement a new enterprise design focused mainly on product categories. Under the new design, which we fully implemented at the beginning of 2016, our businesses are organized in the following three new divisions: Americas Simple Meals and Beverages, Global Biscuits and Snacks, and Campbell Fresh. We are managing our operations under the new structure in 2016, and will modify segment reporting as appropriate. Our largest customer, Wal-Mart Stores, Inc. and its affiliates, accounted for approximately 20% in 2015 , and 19% of consolidated net sales in 2014 and 2013 . All of our reportable segments sold products to Wal-Mart Stores, Inc. or its affiliates. 2015 2014 2013 Net sales U.S. Simple Meals $ 2,930 $ 2,944 $ 2,849 Global Baking and Snacking 2,375 2,440 2,273 International Simple Meals and Beverages 700 780 869 U.S. Beverages 689 723 742 Bolthouse and Foodservice 1,388 1,381 1,319 Total $ 8,082 $ 8,268 $ 8,052 2015 2014 2013 Earnings before interest and taxes U.S. Simple Meals $ 677 $ 714 $ 731 Global Baking and Snacking 350 332 316 International Simple Meals and Beverages 80 106 108 U.S. Beverages 113 127 120 Bolthouse and Foodservice 107 117 116 Corporate (1) (130 ) (149 ) (260 ) Restructuring charges (2) (102 ) (55 ) (51 ) Total $ 1,095 $ 1,192 $ 1,080 2015 2014 2013 Depreciation and amortization U.S. Simple Meals $ 80 $ 77 $ 146 Global Baking and Snacking 87 93 83 International Simple Meals and Beverages 18 19 23 U.S. Beverages 22 21 39 Bolthouse and Foodservice 80 80 90 Corporate (4) 16 15 15 Discontinued Operations — — 11 Total $ 303 $ 305 $ 407 2015 2014 2013 Capital expenditures U.S. Simple Meals and U.S. Beverages (3) $ 118 $ 115 $ 82 Global Baking and Snacking 128 120 112 International Simple Meals and Beverages 28 26 19 Bolthouse and Foodservice 82 57 83 Corporate (4) 24 28 30 Discontinued Operations — 1 10 Total $ 380 $ 347 $ 336 _______________________________________ (1) Represents unallocated corporate expenses. Costs of $22 related to the implementation of our new organizational structure and cost reduction initiatives were included in 2015. Pension settlement charges of $22 associated with a U.S. pension plan were included in 2014. The settlements resulted from the level of lump sum distributions from the plan's assets in 2014, primarily due to the closure of the facility in Sacramento, California. In addition, a loss of $9 on foreign exchange forward contracts related to the sale of the European simple meals business and restructuring-related costs of $3 were included in 2014. Restructuring-related costs of $91 and acquisition costs of $10 were included in 2013. (2) See Note 8 for additional information. (3) Capital expenditures for U.S. Simple Meals and U.S. Beverages are not maintained by segment. (4) Represents primarily corporate offices. Our global net sales based on product categories are as follows: 2015 2014 2013 Net sales Simple Meals $ 4,446 $ 4,511 $ 4,446 Baked Snacks 2,502 2,571 2,408 Beverages 1,134 1,186 1,198 Total $ 8,082 $ 8,268 $ 8,052 Simple Meals include condensed and ready-to-serve soups, broths, sauces, carrot products, refrigerated salad dressings, refrigerated salsa, hummus, dips and Plum foods and snacks. Baked Snacks include cookies, crackers, biscuits and other baked products. Geographic Area Information Information about operations in different geographic areas is as follows: 2015 2014 2013 Net sales United States $ 6,400 $ 6,432 $ 6,195 Australia 646 709 801 Other countries 1,036 1,127 1,056 Total $ 8,082 $ 8,268 $ 8,052 2015 2014 2013 Long-lived assets United States $ 1,942 $ 1,844 $ 1,804 Australia 232 306 317 Other countries 173 168 139 Total $ 2,347 $ 2,318 $ 2,260 |
Restructuring Charges
Restructuring Charges | 12 Months Ended |
Aug. 02, 2015 | |
Restructuring Charges [Abstract] | |
Restructuring Charges | Restructuring Charges and Cost Savings Initiatives 2015 Initiatives On January 29, 2015, we announced plans to implement a new enterprise design focused mainly on product categories. Under the new design, which we fully implemented at the beginning of 2016, our businesses are organized in the following divisions: Americas Simple Meals and Beverages, Global Biscuits and Snacks, and Campbell Fresh. In support of the new enterprise design, we designed and implemented a new Integrated Global Services (IGS) organization to deliver shared services across the company. IGS, which became effective at the beginning of 2016, is expected to reduce costs while increasing our efficiency and effectiveness. We are also pursuing other initiatives to reduce costs and increase effectiveness, such as streamlining our organizational structure and adopting zero-based budgeting over time. As part of these initiatives, we commenced a voluntary employee separation program available to certain U.S.-based salaried employees nearing retirement who met age, length-of-service and business unit/function criteria. A total of 471 employees elected the program. The electing employees remained with us through July 31, 2015, with some remaining beyond July 31. We also implemented an initiative to reduce overhead across the organization by eliminating approximately 230 positions. In 2015, we recorded a restructuring charge of $102 related to these initiatives. Finally, we incurred charges of $22 recorded in Administrative expenses related to the implementation of the new organizational structure and cost reduction initiatives. The aggregate after-tax impact of restructuring charges and implementation and other costs recorded in 2015 was $78 , or $.25 per share. A summary of the pre-tax costs associated with the 2015 initiatives is as follows: Recognized Severance pay and benefits $ 94 Implementation and other costs 30 Total $ 124 The total estimated pre-tax costs for the 2015 initiatives are approximately $250 to $325 . We expect to incur these costs through 2018. We expect the costs to consist of approximately $150 to $163 in severance pay and benefits, and approximately $100 to $162 in implementation and other costs.We expect the total pre-tax costs related to the 2015 initiatives will be associated with segments as follows: U.S. Simple Meals - approximately 21% ; Global Baking and Snacking - approximately 28% ; International Simple Meals and Beverages - approximately 6% ; U.S. Beverages - approximately 5% ; Bolthouse and Foodservice - approximately 5% ; and Corporate - approximately 35% . A summary of the restructuring activity and related reserves associated with the 2015 initiatives at August 2, 2015 , is as follows: Accrued Balance at August 3, 2014 2015 Charges 2015 Cash Payments Foreign Currency Translation Adjustment Accrued Balance at August 2, 2015 (3) Severance pay and benefits $ — $ 87 $ (1 ) $ (1 ) $ 85 Other costs — 8 — — 8 $ — 95 $ (1 ) $ (1 ) $ 93 Non-cash benefits (1) 7 Implementation costs (2) 22 Total charges $ 124 _______________________________________ (1) Represents postretirement and pension curtailment costs. See Note 11. (2) Includes other costs recognized as incurred that are not reflected in the restructuring reserve in the Consolidated Balance Sheet. The costs are included in Administrative expenses in the Consolidated Statements of Earnings. (3) Includes $45 of severance pay and benefits recorded in Other liabilities in the Consolidated Balance Sheet. Segment operating results do not include restructuring charges and implementation and other costs because we evaluate segment performance excluding such charges. A summary of the pre-tax costs incurred to date associated with segments is as follows: U.S. Simple Meals Global Baking and Snacking International Simple Meals and Beverages U.S. Beverages Bolthouse and Foodservice Corporate Total Severance pay and benefits $ 33 $ 41 $ 5 $ 8 $ 4 $ 3 $ 94 Implementation and other costs 5 2 — 1 — 22 30 $ 38 $ 43 $ 5 $ 9 $ 4 $ 25 $ 124 2014 Initiatives In 2014, we implemented initiatives to reduce overhead across the organization, restructure manufacturing and streamline operations for our soup and broth business in China and improve supply chain efficiency in Australia. Details of the 2014 initiatives include: • We streamlined our salaried workforce in North America and our workforce in the Asia Pacific region. Approximately 250 positions were eliminated. • Together with our joint venture partner Swire Pacific Limited, we restructured manufacturing and streamlined operations for our soup and broth business in China. As a result, certain assets were impaired, and approximately 100 positions were eliminated. • In Australia, we implemented an initiative to improve supply chain efficiency by relocating production from our biscuit plant in Marleston to Huntingwood. The relocation will continue through 2017 and will result in the elimination of approximately 90 positions. • We implemented an initiative to reduce overhead across the organization by eliminating approximately 85 positions. The actions were completed in 2015. In 2014, we recorded a restructuring charge of $ 54 ( $33 after tax, or $.10 per share, in earnings from continuing operations attributable to Campbell Soup Company) related to the 2014 initiatives. A summary of the pre-tax costs associated with the 2014 initiatives is as follows: Total Program Severance pay and benefits $ 41 Asset impairment 12 Other exit costs 1 Total $ 54 As of the fourth quarter of 2015, we incurred substantially all of the costs related to the 2014 initiatives. A summary of the restructuring activity and related reserves associated with the 2014 initiatives at August 2, 2015 , is as follows: Accrued Balance at July 28, 2013 2014 Charges 2014 Cash Payments Accrued Balance at August 3, 2014 2015 Cash Foreign Currency Translation Adjustment Accrued Balance at August 2, 2015 (2) Severance pay and benefits $ — $ 41 (13 ) 28 (16 ) (2 ) $ 10 Asset impairment 12 Other exit costs (1) 1 Total charges $ 54 _______________________________________ (1) Includes non-cash costs that are not reflected in the restructuring reserve in the Consolidated Balance Sheet. (2) Includes $4 of severance pay and benefits recorded in Other liabilities in the Consolidated Balance Sheet. Segment operating results do not include restructuring charges because we evaluate segment performance excluding such charges. A summary of restructuring charges associated with segments is as follows: U.S. Simple Meals Global Baking and Snacking International Simple Meals and Beverages U.S. Beverages Bolthouse and Foodservice Corporate Total Severance pay and benefits $ 7 $ 23 $ 6 $ 2 $ 2 $ 1 $ 41 Asset impairment 1 — 11 — — — 12 Other exit costs — — 1 — — — 1 $ 8 $ 23 $ 18 $ 2 $ 2 $ 1 $ 54 2013 Initiatives In 2013, we implemented initiatives to improve supply chain efficiency, expand access to manufacturing and distribution capabilities and reduce costs. Details of the 2013 initiatives include: • We implemented initiatives to improve our U.S. supply chain cost structure and increase asset utilization across our U.S. thermal plant network, including closing our Sacramento, California, thermal plant, which produced soups, sauces and beverages. The closure resulted in the elimination of approximately 700 full-time positions and was completed in phases. Most of the positions were eliminated in 2013, and operations ceased in August 2013. We shifted the majority of Sacramento's soup, sauce and beverage production to our thermal plants in Maxton, North Carolina; Napoleon, Ohio; and Paris, Texas. We also closed our South Plainfield, New Jersey, spice plant, which resulted in the elimination of 27 positions. We consolidated spice production at our Milwaukee, Wisconsin, plant in 2013. • In Mexico, we entered into commercial arrangements with third-party providers to expand access to manufacturing and distribution capabilities. The third-party providers produce and distribute our beverages, soups, broths and sauces throughout the Mexican market. As a result of these agreements, we closed our plant in Villagrán, Mexico, and eliminated approximately 260 positions in the first quarter of 2014. • We implemented an initiative to improve our Pepperidge Farm bakery supply chain cost structure by closing our plant in Aiken, South Carolina. The plant was closed in May 2014. We shifted the majority of Aiken's bread production to our bakery plant in Lakeland, Florida. Approximately 110 positions were eliminated as a result of the plant closure. • We streamlined our salaried workforce in U.S. Simple Meals, North America Foodservice and U.S. Beverages by approximately 70 positions. This action was substantially completed in August 2013. In 2014, we recorded a restructuring charge of $1 related to the 2013 initiatives. In addition, we recorded approximately $3 of costs related to the 2013 initiatives in Cost of products sold, representing other exit costs. The aggregate after-tax impact of restructuring charges and related costs recorded in 2014 was $3 , or $.01 per share. In 2013, we recorded a restructuring charge of $51 . In addition, we recorded approximately $91 of costs related to these initiatives in 2013 in Cost of products sold, representing accelerated depreciation and other exit costs. The aggregate after-tax impact of restructuring charges and related costs recorded in 2013 was $90 , or $.28 per share. A summary of the pre-tax costs associated with the 2013 initiatives recognized is as follows: Total Program Severance pay and benefits $ 35 Accelerated depreciation/asset impairment 99 Other exit costs 12 Total $ 146 As of the fourth quarter of 2015, we substantially completed the 2013 initiatives. A summary of the restructuring activity and related reserves associated with the 2013 initiatives at August 2, 2015 , is as follows: Severance Pay and Benefits Asset Impairment/Accelerated Depreciation Non-Cash Benefits (1) Other Exit Costs (2) Total Charges Accrued balance at July 29, 2012 $ — 2013 charges 32 99 3 8 $ 142 2013 cash payments (15 ) Accrued balance at July 28, 2013 $ 17 2014 charges — — — 4 $ 4 2014 cash payments (14 ) Accrued balance at August 3, 2014 $ 3 2015 cash payments (3 ) Accrued balance at August 2, 2015 $ — _______________________________________ (1) Represents pension curtailment costs. See Note 11. (2) Includes non-cash costs and other exit costs recognized as incurred that are not reflected in the restructuring reserve in the Consolidated Balance Sheet. Segment operating results do not include restructuring charges and related costs because we evaluate segment performance excluding such charges. A summary of restructuring charges and related costs associated with segments is as follows: U.S. Simple Meals Global Baking and Snacking International Simple Meals and Beverages U.S. Beverages Bolthouse and Foodservice Total Severance pay and benefits $ 19 $ 2 $ 5 $ 7 $ 2 $ 35 Accelerated depreciation/asset impairment 64 10 3 22 — 99 Other exit costs 7 2 1 2 — 12 $ 90 $ 14 $ 9 $ 31 $ 2 $ 146 |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Aug. 02, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings per Share For the periods presented in the Consolidated Statements of Earnings, the calculations of basic EPS and EPS assuming dilution vary in that the weighted average shares outstanding assuming dilution include the incremental effect of stock options and other share-based payment awards, except when such effect would be antidilutive. There were no antidilutive stock options in 2015, 2014, or 2013. |
Noncontrolling Interests
Noncontrolling Interests | 12 Months Ended |
Aug. 02, 2015 | |
Income Amounts Attributable to Noncontrolling Interest, Disclosures [Abstract] | |
Noncontrolling Interest | Noncontrolling Interests We own a 60% controlling interest in a joint venture formed with Swire Pacific Limited to support the development of our soup and broth business in China. The joint venture began operations on January 31, 2011. In February 2013, we contributed additional cash of $5 and the joint venture partner contributed additional cash of $3 . In August 2013, we contributed additional cash of $7 and the joint venture partner contributed additional cash of $5 . In 2014, together with our joint venture partner, we restructured manufacturing and streamlined operations for our soup and broth business in China. The after-tax restructuring charge attributable to the noncontrolling interest was $5 . See also Note 8. In June 2015, we contributed additional cash of $14 and the joint venture partner contributed additional cash of $9 . We also own a 70% controlling interest in a Malaysian food products manufacturing company. The noncontrolling interests' share in the net earnings (loss) was included in Net earnings (loss) attributable to noncontrolling interests in the Consolidated Statements of Earnings. The noncontrolling interests in these entities were included in Total equity in the Consolidated Balance Sheets and Consolidated Statements of Equity. |
Pension And Postretirement Bene
Pension And Postretirement Benefits | 12 Months Ended |
Aug. 02, 2015 | |
General Discussion of Pension and Other Postretirement Benefits [Abstract] | |
Pension And Postretirement Benefits | Pension and Postretirement Benefits Pension Benefits — We sponsor a number of noncontributory defined benefit pension plans to provide retirement benefits to all eligible U.S. and non-U.S. employees. The benefits provided under these plans are based primarily on years of service and compensation levels. In 1999, we implemented significant amendments to certain U.S. pension plans. Under a new formula, retirement benefits are determined based on percentages of annual pay and age. To minimize the impact of converting to the new formula, service and earnings credit continues to accrue through the year 2015 for active employees participating in the plans under the old formula prior to the amendments. Employees will receive the benefit from either the new or old formula, whichever is higher. Benefits become vested upon the completion of three years of service. Benefits are paid from funds previously provided to trustees and insurance companies or are paid directly by us from general funds. Effective as of January 1, 2011, our U.S. pension plans were amended so that employees hired or rehired on or after that date and who are not covered by collective bargaining agreements will not be eligible to participate in the plans. Postretirement Benefits — We provide postretirement benefits, including health care and life insurance, to substantially all retired U.S. employees and their dependents. We established retiree medical account benefits for eligible U.S. retirees. The accounts were intended to provide reimbursement for eligible health care expenses on a tax-favored basis. Effective as of January 1, 2011, the retirement medical program was amended to eliminate the retiree medical account benefit for employees not covered by collective bargaining agreements. To preserve the benefit for employees close to retirement age, the retiree medical account will be available to employees who were at least age 50 with at least 10 years of service as of December 31, 2010, and who satisfy the other eligibility requirements for the retiree medical program. We use the fiscal year end as the measurement date for the benefit plans. Components of benefit expense were as follows: Pension 2015 2014 2013 Service cost $ 28 $ 42 $ 57 Interest cost 105 115 108 Expected return on plan assets (173 ) (176 ) (177 ) Amortization of prior service credit (1 ) (1 ) (1 ) Recognized net actuarial loss 84 76 108 Curtailment loss 1 — 3 Settlement charges — 22 — Net periodic benefit expense $ 44 $ 78 $ 98 The curtailment loss of $1 in 2015 was related to a voluntary employee separation program and was included in Restructuring charges. See also Note 8. The settlement charges of $22 in 2014 were associated with a U.S. pension plan. The settlements resulted from the level of lump sum distributions from the plan's assets in 2014, primarily due to the closure of the facility in Sacramento, California. The curtailment loss of $3 in 2013 related to the closure of the plant in Mexico and was included in the Restructuring charges. See also Note 8. In 2013, net periodic benefit expense of $1 related to the simple meals business in Europe and was included in Earnings (loss) from discontinued operations. The estimated prior service credit and net actuarial losses that will be amortized from Accumulated other comprehensive loss into periodic pension cost during 2016 are $1 and $90 , respectively. Postretirement 2015 2014 2013 Service cost $ 2 $ 2 $ 3 Interest cost 15 17 15 Amortization of prior service credit (1 ) (1 ) (1 ) Recognized net actuarial loss 14 13 15 Curtailment loss 6 — — Net periodic benefit expense $ 36 $ 31 $ 32 The curtailment loss of $6 in 2015 was related to a voluntary employee separation program and was included in Restructuring charges. See also Note 8. The estimated prior service credit and net actuarial loss that will be amortized from Accumulated other comprehensive loss into net periodic postretirement expense during 2016 are $1 and $13 , respectively. Change in benefit obligation: Pension Postretirement 2015 2014 2015 2014 Obligation at beginning of year $ 2,539 $ 2,489 $ 388 $ 390 Service cost 28 42 2 2 Interest cost 105 115 15 17 Actuarial loss 107 154 7 5 Participant contributions — — 3 6 Benefits paid (151 ) (191 ) (33 ) (35 ) Medicare subsidies — — 4 3 Other (1 ) (4 ) — — Settlements — (43 ) — — Curtailment 1 — 6 — Foreign currency adjustment (59 ) (12 ) — — Divestiture — (11 ) — — Benefit obligation at end of year $ 2,569 $ 2,539 $ 392 $ 388 Change in the fair value of pension plan assets: 2015 2014 Fair value at beginning of year $ 2,364 $ 2,275 Actual return on plan assets 143 276 Employer contributions 5 46 Benefits paid (141 ) (179 ) Settlements — (43 ) Foreign currency adjustment (55 ) (11 ) Fair value at end of year $ 2,316 $ 2,364 Amounts recognized in the Consolidated Balance Sheets: Pension Postretirement 2015 2014 2015 2014 Other assets $ — $ 7 $ — $ — Accrued liabilities (20 ) (12 ) (30 ) (29 ) Other liabilities (233 ) (170 ) (362 ) (359 ) Net amount recognized $ (253 ) $ (175 ) $ (392 ) $ (388 ) Pension Postretirement Amounts recognized in accumulated other comprehensive loss consist of: 2015 2014 2015 2014 Net actuarial loss $ 1,051 $ 1,019 $ 90 $ 96 Prior service credit (1 ) (2 ) (4 ) (5 ) Total $ 1,050 $ 1,017 $ 86 $ 91 The changes in other comprehensive loss associated with pension benefits included the reclassification of actuarial losses into earnings of $84 and $100 in 2015 and 2014, respectively. The remaining changes in other comprehensive loss associated with pension benefits were primarily due to net actuarial losses arising during the periods as well as the impact of currency. The amount reclassified in 2014 included the settlement charges and $2 of net actuarial losses recognized in discontinued operations as a result of the sale of the European simple meals business. The change in other comprehensive loss associated with postretirement benefits was due to the reclassification of actuarial losses into earnings of $14 and $13 in 2015 and 2014, respectively. The remaining changes in other comprehensive loss associated with postretirement benefits were primarily due to net actuarial losses arising during the periods. The following table provides information for pension plans with accumulated benefit obligations in excess of plan assets: 2015 2014 Projected benefit obligation $ 1,926 $ 269 Accumulated benefit obligation $ 1,906 $ 257 Fair value of plan assets $ 1,684 $ 92 The accumulated benefit obligation for all pension plans was $2,516 at August 2, 2015 , and $2,477 at August 3, 2014 . Weighted-average assumptions used to determine benefit obligations at the end of the year: Pension Postretirement 2015 2014 2015 2014 Discount rate 4.19% 4.33% 4.00% 4.00% Rate of compensation increase 3.29% 3.30% 3.25% 3.25% Weighted-average assumptions used to determine net periodic benefit cost for the years ended: Pension 2015 2014 2013 Discount rate 4.33% 4.82% 4.05% Expected return on plan assets 7.62% 7.62% 7.65% Rate of compensation increase 3.30% 3.30% 3.31% The discount rate is established as of our fiscal year-end measurement date. In establishing the discount rate, we review published market indices of high-quality debt securities, adjusted as appropriate for duration. In addition, independent actuaries apply high-quality bond yield curves to the expected benefit payments of the plans. The expected return on plan assets is a long-term assumption based upon historical experience and expected future performance, considering our current and projected investment mix. This estimate is based on an estimate of future inflation, long-term projected real returns for each asset class, and a premium for active management. The discount rate used to determine net periodic postretirement expense was 4.00% in 2015, 4.50% in 2014 and 3.75% in 2013. Assumed health care cost trend rates at the end of the year: 2015 2014 Health care cost trend rate assumed for next year 7.75% 8.25% Rate to which the cost trend rate is assumed to decline (ultimate trend rate) 4.50% 4.50% Year that the rate reaches the ultimate trend rate 2022 2022 A one-percentage-point change in assumed health care costs would have the following effects on 2015 reported amounts: Increase Decrease Effect on service and interest cost $ 1 $ (1 ) Effect on the 2015 accumulated benefit obligation $ 25 $ (22 ) Pension Plan Assets The fundamental goal underlying the investment policy is to ensure that the assets of the plans are invested in a prudent manner to meet the obligations of the plans as these obligations come due. The primary investment objectives include providing a total return which will promote the goal of benefit security by attaining an appropriate ratio of plan assets to plan obligations, to provide for real asset growth while also tracking plan obligations, to diversify investments across and within asset classes, to reduce the impact of losses in single investments, and to follow investment practices that comply with applicable laws and regulations. The primary policy objectives will be met by investing assets to achieve a reasonable tradeoff between return and risk relative to plan obligations. This includes investing a portion of the assets in funds selected in part to hedge the interest rate sensitivity to plan obligations. The portfolio includes investments in the following asset classes: fixed income, equity, real estate and alternatives. Fixed income will provide a moderate expected return and partially hedge the exposure to interest rate risk of the plans’ obligations. Equities are used for their high expected return. Additional asset classes are used to provide diversification. Asset allocation is monitored on an ongoing basis relative to the established asset class targets. The interaction between plan assets and benefit obligations is periodically studied to assist in the establishment of strategic asset allocation targets. The investment policy permits variances from the targets within certain parameters. Asset rebalancing occurs when the underlying asset class allocations move outside these parameters, at which time the asset allocation is rebalanced back to the policy target weight. Our year-end pension plan weighted-average asset allocations by category were: Strategic Target 2015 2014 Equity securities 51% 50% 51% Debt securities 35% 34% 33% Real estate and other 14% 16% 16% Net periodic benefit expense 100% 100% 100% Pension plan assets are categorized based on the following fair value hierarchy: • Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2: Inputs other than quoted prices included in Level 1 that are observable for the asset or liability through corroboration with observable market data. • Level 3: Unobservable inputs, which are valued based on our estimates of assumptions that market participants would use in pricing the asset or liability. The following table presents our pension plan assets by asset category at August 2, 2015 , and August 3, 2014 : Fair Value Fair Value Measurements at Fair Value Fair Value Measurements at Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Short-term investments $ 32 $ 32 $ — $ — $ 23 $ 23 $ — $ — Equities: U.S. 386 386 — — 378 378 — — Non-U.S. 312 312 — — 332 332 — — Corporate bonds: U.S. 494 — 494 — 469 — 469 — Non-U.S. 102 — 102 — 114 — 114 — Government and agency bonds: U.S. 42 — 42 — 62 — 62 — Non-U.S. 36 — 36 — 46 — 46 — Municipal bonds 68 — 68 — 84 — 84 — Mortgage and asset backed securities 9 — 9 — 13 — 13 — Real estate 14 8 — 6 8 5 — 3 Hedge funds 39 — — 39 30 — — 30 Derivative assets 5 — 5 — 8 — 8 — Derivative liabilities (6 ) — (6 ) — (6 ) — (6 ) — Total assets at fair value $ 1,533 $ 738 $ 750 $ 45 $ 1,561 $ 738 $ 790 $ 33 Investments measured at net asset value: Short-term investments 28 37 Commingled funds: Equities 375 393 Fixed income 31 36 Blended 79 95 Real estate 117 109 Hedge funds 175 151 Total investments measured at net asset value: 805 821 Other items to reconcile to fair value of plan assets (22 ) (18 ) Total pension assets at fair value $ 2,316 $ 2,364 Short-term investments — Investments include cash and cash equivalents, and various short-term debt instruments and short-term investment funds. Institutional short-term investment vehicles valued daily are classified as Level 1 at cost which approximates market value. Other investments valued based upon a quoted net asset value are included as a reconciling item to the fair value table. Equities — Common stocks and preferred stocks are classified as Level 1 and are valued using quoted market prices in active markets. Corporate bonds — These investments are valued based on quoted market prices, yield curves and pricing models using current market rates. Government and agency bonds — These investments are generally valued based on bid quotations and recent trade data for identical or similar obligations. Municipal bonds — These investments are valued based on quoted market prices, yield curves and pricing models using current market rates. Mortgage and asset backed securities — Fair value is based on prices obtained from third party pricing sources. The prices from third party pricing sources may be based on bid quotes from dealers and recent trade data. Mortgage backed securities are traded in the over-the-counter market. Real estate — Real estate investments consist of real estate investment trusts, property funds and limited partnerships. Real estate investment trusts are classified as Level 1 and are valued based on quoted market prices. Property funds are classified as either Level 2 or Level 3 depending upon whether liquidity is limited or there are few observable market participant transactions. Fair value is based on third party appraisals. Limited partnerships are valued based upon valuations provided by the general partners of the funds. The values of limited partnerships are based upon an assessment of each underlying investment, incorporating valuations that consider the evaluation of financing and sales transactions with third parties, expected cash flows, and market-based information, including comparable transactions and performance multiples among other factors. The investments are classified as Level 3 since the valuation is determined using unobservable inputs. Real estate investments valued at net asset value are included as a reconciling item to the fair value table. Hedge funds — Hedge fund investments include hedge funds valued based upon a net asset value derived from the fair value of underlying securities. Hedge fund investments that are subject to liquidity restrictions or that are based on unobservable inputs are classified as Level 3. Hedge fund investments may include long and short positions in equity and fixed income securities, derivative instruments such as futures and options, commodities and other types of securities. Hedge fund investments valued at net asset value are included as a reconciling item to the fair value table. Derivatives — Derivative financial instruments include forward currency contracts, futures contracts, options contracts, interest rate swaps and credit default swaps. Derivative financial instruments are classified as Level 2 and are valued based on observable market transactions or prices. Commingled funds — Investments in commingled funds are not traded in active markets. Blended commingled funds are invested in both equities and fixed income securities. Commingled funds are valued based on the net asset values of such funds. and are included as a reconciling item to the fair value table. Other items to reconcile to fair value of plan assets included amounts due for securities sold, amounts payable for securities purchased, and other payables. The following table summarizes the changes in fair value of Level 3 investments for the years ended August 2, 2015 , and August 3, 2014 : Real Estate Hedge Funds Total Fair value at August 3, 2014 $ 3 $ 30 $ 33 Actual return on plan assets 1 2 3 Purchases 2 7 9 Sales — — — Settlements — — — Transfers out of Level 3 — — — Fair value at August 2, 2015 $ 6 $ 39 $ 45 Real Estate Hedge Funds Total Fair value at July 28, 2013 $ — $ 25 $ 25 Actual return on plan assets — 1 1 Purchases 3 4 7 Sales — — — Settlements — — — Transfers out of Level 3 — — — Fair value at August 3, 2014 $ 3 $ 30 $ 33 The following table presents additional information about the pension plan assets valued using NAV as a practical expedient within the fair value hierarchy table. 2015 2014 Fair Value Unfunded Commitments Fair Value Unfunded Commitments Redemption Frequency Redemption Notice Period Range Short-term investments $ 28 $ — $ 37 $ — Daily 1 Day Commingled funds: Equities 375 — 393 — Daily, Monthly 1 to 120 Days Fixed income 31 — 36 — Daily 1 Day Blended 79 — 95 — Primarily Daily 1 to 20 Days Real estate funds 117 3 109 7 Primarily Quarterly 1 to 90 Days Hedge funds 175 25 151 47 Monthly, Quarterly 5 to 95 Days Total $ 805 $ 28 $ 821 $ 54 No contributions are expected to be made to U.S. pension plans in 2016. We expect contributions to non-U.S. pension plans to be approximately $5 in 2016. Estimated future benefit payments are as follows: Pension Postretirement 2016 $ 246 $ 30 2017 $ 169 $ 31 2018 $ 165 $ 31 2019 $ 168 $ 31 2020 $ 165 $ 31 2021-2025 $ 828 $ 141 The estimated future benefit payments include payments from funded and unfunded plans. Savings Plan — We sponsor employee savings plans that cover substantially all U.S. employees. Effective January 1, 2011, we provide a matching contribution of 100% of employee contributions up to 4% of compensation for employees who are not covered by collective bargaining agreements. Employees hired or rehired on or after January 1, 2011 who will not be eligible to participate in the defined benefit plans and who are not covered by collective bargaining agreements receive a contribution equal to 3% of compensation regardless of their participation in the Savings Plan. Prior to January 1, 2011, we provided a matching contribution of 60% ( 50% at certain locations) of the employee contributions up to 5% of compensation after one year of continued service. Amounts charged to Costs and expenses were $31 in 2015, $29 in 2014 and $27 in 2013. |
Taxes on Earnings
Taxes on Earnings | 12 Months Ended |
Aug. 02, 2015 | |
Income Tax Disclosure [Abstract] | |
Taxes on Earnings | Taxes on Earnings The provision for income taxes on earnings from continuing operations consists of the following: 2015 2014 2013 Income taxes: Currently payable: Federal $ 246 $ 252 $ 268 State 31 30 24 Non-U.S. 55 42 47 332 324 339 Deferred: Federal (31 ) 32 (58 ) State 2 2 (6 ) Non-U.S. (4 ) (11 ) — (33 ) 23 (64 ) $ 299 $ 347 $ 275 Earnings from continuing operations before income taxes: United States $ 850 $ 995 $ 815 Non-U.S. 140 78 140 $ 990 $ 1,073 $ 955 The following is a reconciliation of the effective income tax rate on continuing operations to the U.S. federal statutory income tax rate: 2015 2014 2013 Federal statutory income tax rate 35.0 % 35.0 % 35.0 % State income taxes (net of federal tax benefit) 2.2 2.0 1.1 Tax effect of international items (2.4 ) (1.0 ) (2.6 ) Settlement of tax contingencies (0.7 ) — (0.1 ) Federal manufacturing deduction (2.8 ) (2.3 ) (2.7 ) Other (1.1 ) (1.4 ) (1.9 ) Effective income tax rate 30.2 % 32.3 % 28.8 % Deferred tax liabilities and assets are comprised of the following: 2015 2014 Depreciation $ 306 $ 300 Amortization 541 541 Other 16 17 Deferred tax liabilities 863 858 Benefits and compensation 298 294 Pension benefits 92 63 Tax loss carryforwards 44 49 Capital loss carryforwards 85 112 Other 101 70 Gross deferred tax assets 620 588 Deferred tax asset valuation allowance (122 ) (151 ) Net deferred tax assets 498 437 Net deferred tax liability $ 365 $ 421 At August 2, 2015 , our U.S. and non-U.S. subsidiaries had tax loss carryforwards of approximately $173 . Of these carryforwards, $127 expire between 2016 and 2035 , and $46 may be carried forward indefinitely. The current statutory tax rates in these countries range from 16% to 35% . At August 2, 2015 , deferred tax asset valuation allowances have been established to offset $142 of these tax loss carryforwards. Additionally, at August 2, 2015 , our non-U.S. subsidiaries had capital loss carryforwards of approximately $298 , which were fully offset by valuation allowances. The net change in the deferred tax asset valuation allowance in 2015 was a decrease of $29 . The decrease was primarily due to the impact of currency and the expiration of tax losses, partially offset by the recognition of additional valuation allowances on other foreign loss carryforwards. The net change in the deferred tax asset valuation allowance in 2014 was an increase of $3 . The increase was primarily due to the impact of currency and the recognition of additional valuation allowances on foreign loss carryforwards. As of August 2, 2015 , other deferred tax assets included $2 of state tax credit carryforwards related to various states that expire between 2018 and 2024 . As of August 3, 2014 , other deferred tax assets included $9 of state tax credit carryforwards related to various states that expire between 2018 and 2024 . No valuation allowances have been established related to these deferred tax assets. As of August 2, 2015 , U.S. income taxes have not been provided on approximately $770 of undistributed earnings of non-U.S. subsidiaries, which are deemed to be permanently reinvested. It is not practical to estimate the tax liability that might be incurred if such earnings were remitted to the U.S. A reconciliation of the activity related to unrecognized tax benefits follows: 2015 2014 2013 Balance at beginning of year $ 71 $ 61 $ 48 Increases related to prior-year tax positions 9 — 28 Decreases related to prior-year tax positions — (1 ) (7 ) Increases related to current-year tax positions 5 11 9 Settlements (27 ) — (15 ) Lapse of statute — — (2 ) Balance at end of year $ 58 $ 71 $ 61 The decrease in 2015 is primarily due to the settlement of an intercompany pricing agreement between the U.S. and Canada for the years from 2006 though 2014. The amount of unrecognized tax benefits that, if recognized, would impact the annual effective tax rate was $39 as of August 2, 2015 , and $23 as of August 3, 2014 , and July 28, 2013 . The total amount of unrecognized tax benefits can change due to audit settlements, tax examination activities, statute expirations and the recognition and measurement criteria under accounting for uncertainty in income taxes. We are unable to estimate what this change may be within the next 12 months, but do not believe that it will be material to the financial statements. Approximately $5 and $2 of unrecognized tax benefits, including interest and penalties, were reported as accounts receivable in the Consolidated Balance Sheets as of August 2, 2015 , and August 3, 2014 , respectively. Our accounting policy with respect to interest and penalties attributable to income taxes is to reflect any expense or benefit as a component of our income tax provision. The total amount of interest and penalties recognized in the Consolidated Statements of Earnings was not material in 2015 , 2014 and 2013 . The total amount of interest and penalties recognized in the Consolidated Balance Sheets was $3 as of August 2, 2015 , and August 3, 2014 . We do business internationally and, as a result, file income tax returns in the U.S. federal jurisdiction and various state and non-U.S. jurisdictions. In the normal course of business, we are subject to examination by taxing authorities throughout the world, including such major jurisdictions as the U.S., Australia, Canada and Denmark. The 2015 tax year is currently under audit by the Internal Revenue Service. In addition, several state income tax examinations are in progress for the years 2003 to 2014. With limited exceptions, we have been audited for income tax purposes in Australia and Denmark through 2010, and in Canada through 2009. |
Short-term Borrowings and Long-
Short-term Borrowings and Long-term Debt | 12 Months Ended |
Aug. 02, 2015 | |
Debt Disclosure [Abstract] | |
Short-term Borrowings and Long-term Debt | Short-term Borrowings and Long-term Debt Short-term borrowings consist of the following: 2015 2014 Commercial paper $ 1,532 $ 1,406 Current portion of long-term debt — 300 Variable-rate bank borrowings 1 47 Fixed-rate bank borrowings 9 17 Capital leases 1 1 $ 1,543 $ 1,771 As of August 2, 2015 , the weighted-average interest rate of commercial paper, which consisted of U.S. borrowings, was 0.58% . As of August 3, 2014 , the weighted-average interest rate of commercial paper, which consisted of U.S. borrowings, was 0.27% . At August 2, 2015 , we had $1,543 of short-term borrowings due within one year, of which $1,532 was comprised of commercial paper borrowings. As of August 2, 2015 , we issued $50 of standby letters of credit. We have a committed revolving credit facility totaling $2,200 that matures in December 2018. This facility remained unused at August 2, 2015 , except for $3 of standby letters of credit that we issued under it. This revolving credit facility supports our commercial paper programs and other general corporate purposes. We may also increase the commitment under the credit facility up to an additional $500 , upon the agreement of either existing lenders or of additional banks not currently parties to the existing credit agreements. Long-term debt consists of the following: Type Fiscal Year of Maturity Rate 2015 2014 Notes 2015 3.38% $ — $ 300 Notes 2017 3.05% 400 400 Notes 2019 4.50% 300 300 Notes 2021 4.25% 500 500 Debentures 2021 8.88% 200 200 Notes 2023 2.50% 450 450 Notes 2025 3.30% 300 — Notes 2043 3.80% 400 400 Capital leases 10 3 Other (1) (8 ) (9 ) Total $ 2,552 $ 2,544 Less current portion — 300 Total long-term debt $ 2,552 $ 2,244 _______________________________________ (1) Other includes unamortized net premium/discount on debt issuances. In March 2015, we issued $300 of 3.30% notes that mature on March 19, 2025 . Interest on the notes is due semi-annually on March 19 and September 19, commencing on September 19, 2015. The notes may be redeemed in whole, or in part, at our option at any time at the applicable redemption price. In certain circumstances, we may be required to repurchase some or all of the notes upon a change in control of our company and a downgrade of the notes below investment grade. Principal amounts of long-term debt mature as follows: $1 in 2016; $401 in 2017; $1 in 2018; $301 in 2019; $0 in 2020; and a total of $1,857 in periods beyond 2020. |
Financial Instruments
Financial Instruments | 12 Months Ended |
Aug. 02, 2015 | |
General Discussion of Derivative Instruments and Hedging Activities [Abstract] | |
Financial Instruments | Financial Instruments The principal market risks to which we are exposed are changes in foreign currency exchange rates, interest rates, and commodity prices. In addition, we are exposed to equity price changes related to certain deferred compensation obligations. In order to manage these exposures, we follow established risk management policies and procedures, including the use of derivative contracts such as swaps, options, forwards and commodity futures. We enter into these derivative contracts for periods consistent with the related underlying exposures, and the contracts do not constitute positions independent of those exposures. We do not enter into derivative contracts for speculative purposes and do not use leveraged instruments. Our derivative programs include instruments that qualify and others that do not qualify for hedge accounting treatment. Concentration of Credit Risk We are exposed to the risk that counterparties to derivative contracts will fail to meet their contractual obligations. To mitigate counterparty credit risk, we enter into contracts only with carefully selected, leading, credit-worthy financial institutions, and distribute contracts among several financial institutions to reduce the concentration of credit risk. We do not have credit-risk-related contingent features in our derivative instruments as of August 2, 2015 . During 2015, our largest customer accounted for approximately 20% of consolidated net sales. We closely monitor credit risk associated with counterparties and customers. Foreign Currency Exchange Risk We are exposed to foreign currency exchange risk related to our international operations, including non-functional currency intercompany debt and net investments in subsidiaries. We are also exposed to foreign exchange risk as a result of transactions in currencies other than the functional currency of certain subsidiaries. Principal currencies hedged include the Canadian dollar, Australian dollar and U.S. dollar. We utilize foreign exchange forward purchase and sale contracts, as well as cross-currency swaps, to hedge these exposures. The contracts are either designated as cash-flow hedging instruments or are undesignated. We hedge portions of our forecasted foreign currency transaction exposure with foreign exchange forward contracts for periods typically up to 18 months. To hedge currency exposures related to intercompany debt, we enter into foreign exchange forward purchase and sale contracts, as well as cross-currency swap contracts, for periods consistent with the underlying debt. As of August 2, 2015 , cross-currency swap contracts mature between 12 and 24 months . The notional amount of foreign exchange forward and cross-currency swap contracts accounted for as cash-flow hedges was $53 at August 2, 2015 , and $58 at August 3, 2014 . The effective portion of the changes in fair value on these instruments is recorded in other comprehensive income (loss) and is reclassified into the Consolidated Statements of Earnings on the same line item and the same period in which the underlying hedged transaction affects earnings. The notional amount of foreign exchange forward and cross-currency swap contracts that are not designated as accounting hedges was $480 and $561 at August 2, 2015 , and August 3, 2014 , respectively. Interest Rate Risk We manage our exposure to changes in interest rates by optimizing the use of variable-rate and fixed-rate debt and by utilizing interest rate swaps in order to maintain our variable-to-total debt ratio within targeted guidelines. Receive fixed rate/pay variable rate interest rate swaps are accounted for as fair-value hedges. We manage our exposure to interest rate volatility on future debt issuances by entering into forward starting interest rate swaps to lock in the rate on the interest payments related to the anticipated debt issuances. These pay fixed rate/receive variable rate forward starting interest rate swaps are accounted for as cash-flow hedges. The effective portion of the changes in fair value on these instruments is recorded in other comprehensive income (loss) and is reclassified into the Consolidated Statements of Earnings over the life of the debt. The notional amount of outstanding forward starting interest rate swaps totaled $300 at August 2, 2015 , which relates to an anticipated debt issuance in 2018. The notional amount of outstanding forward starting interest rate swaps totaled $250 at August 3, 2014 . We settled forward starting interest rate swaps with a notional value of $250 during 2015 at a loss of $4 . The effective portion of the loss was recorded in other comprehensive income (loss) and will be recognized as additional interest expense over the 10-year life of debt issued in March 2015. Commodity Price Risk We principally use a combination of purchase orders and various short- and long-term supply arrangements in connection with the purchase of raw materials, including certain commodities and agricultural products. We also enter into commodity futures, options and swap contracts to reduce the volatility of price fluctuations of diesel fuel, wheat, soybean oil, aluminum, natural gas, cocoa, butter, corn and cheese, which impact the cost of raw materials. Commodity futures, options, and swap contracts are either designated as cash-flow hedging instruments or are undesignated. We hedge a portion of commodity requirements for periods typically up to 18 months. There were no commodity contracts accounted for as cash-flow hedges as of August 2, 2015 , or August 3, 2014 . The notional amount of commodity contracts not designated as accounting hedges was $95 at August 2, 2015 , and $146 at August 3, 2014 . Equity Price Risk We enter into swap contracts which hedge a portion of exposures relating to certain deferred compensation obligations linked to the total return of our capital stock, the total return of the Vanguard Institutional Index, and the total return of the Vanguard Total International Stock Index. Under these contracts, we pay variable interest rates and receive from the counterparty either the total return on our capital stock; the total return of the Standard & Poor's 500 Index, which is expected to approximate the total return of the Vanguard Institutional Index; or the total return of the iShares MSCI EAFE Index, which is expected to approximate the total return of the Vanguard Total International Stock Index. These contracts were not designated as hedges for accounting purposes. We enter into these contracts for periods typically not exceeding 12 months. The notional amounts of the contracts as of August 2, 2015 , and August 3, 2014 , were $49 and $56 , respectively. The following table summarizes the fair value of derivative instruments on a gross basis as recorded in the Consolidated Balance Sheets as of August 2, 2015 , and August 3, 2014 : Balance Sheet Classification 2015 2014 Asset Derivatives Derivatives designated as hedges: Foreign exchange forward contracts Other current assets $ 3 $ 1 Forward starting interest rate swaps Other current assets — 11 Total derivatives designated as hedges $ 3 $ 12 Derivatives not designated as hedges: Commodity derivative contracts Other current assets $ 1 $ 2 Cross-currency swap contracts Other current assets 18 — Deferred compensation derivative contracts Other current assets 1 — Foreign exchange forward contracts Other current assets 9 1 Cross-currency swap contracts Other assets 22 — Total derivatives not designated as hedges $ 51 $ 3 Total asset derivatives $ 54 $ 15 Balance Sheet Classification 2015 2014 Liability Derivatives Derivatives designated as hedges: Foreign exchange forward contracts Accrued liabilities $ — $ 1 Forward starting interest rate swaps Other liabilities 8 — Total derivatives designated as hedges $ 8 $ 1 Derivatives not designated as hedges: Commodity derivative contracts Accrued liabilities $ 10 $ 10 Cross-currency swap contracts Accrued liabilities — 1 Deferred compensation derivative contracts Accrued liabilities — 3 Foreign exchange forward contracts Accrued liabilities 2 2 Commodity derivative contracts Other liabilities — 1 Cross-currency swap contracts Other liabilities — 5 Total derivatives not designated as hedges $ 12 $ 22 Total liability derivatives $ 20 $ 23 We do not offset the fair values of derivative assets and liabilities executed with the same counterparty that are generally subject to enforceable netting agreements. However, if we were to offset and record the asset and liability balances of derivatives on a net basis, the amounts presented in the Consolidated Balance Sheets as of August 2, 2015 , and August 3, 2014 , would be adjusted as detailed in the following table: 2015 2014 Derivative Instrument Gross Amounts Presented in the Consolidated Balance Sheet Gross Amounts Not Offset in the Consolidated Balance Sheet Subject to Netting Agreements Net Amount Gross Amounts Presented in the Consolidated Balance Sheet Gross Amounts Not Offset in the Consolidated Balance Sheet Subject to Netting Agreements Net Amount Total asset derivatives $ 54 $ (13 ) $ 41 $ 15 $ (4 ) $ 11 Total liability derivatives $ 20 $ (13 ) $ 7 $ 23 $ (4 ) $ 19 We do not offset fair value amounts recognized for exchange-traded commodity derivative instruments and cash margin accounts executed with the same counterparty that are subject to enforceable netting agreements. We are required to maintain cash margin accounts in connection with funding the settlement of open positions. At August 2, 2015 , and August 3, 2014 , a cash margin account balance of $12 and $14 , respectively, was included in Other current assets in the Consolidated Balance Sheets. The following tables show the effect of our derivative instruments designated as cash-flow hedges for the years ended August 2, 2015 , and August 3, 2014 , in other comprehensive income (loss) (OCI) and the Consolidated Statements of Earnings: Derivatives Designated as Cash-Flow Hedges Total Cash-Flow Hedge OCI Activity 2015 2014 OCI derivative gain (loss) at beginning of year $ (4 ) $ 8 Effective portion of changes in fair value recognized in OCI: Foreign exchange forward contracts 18 — Forward starting interest rate swaps (23 ) (12 ) Amount of (gain) loss reclassified from OCI to earnings: Location in Earnings Foreign exchange forward contracts Cost of products sold (4 ) (4 ) Foreign exchange forward contracts Other expenses / (income) (1 ) 1 Forward starting interest rate swaps Interest expense 4 3 OCI derivative gain (loss) at end of year $ (10 ) $ (4 ) Based on current valuations, the amount expected to be reclassified from OCI into earnings within the next 12 months is a gain of $8 . The ineffective portion and amount excluded from effectiveness testing were not material. The following table shows the effect of our derivative instruments designated as fair-value hedges in the Consolidated Statements of Earnings: Amount of Gain (Loss) Recognized in Earnings on Derivatives Amount of Gain (Loss) Recognized in Earnings on Hedged Item Derivatives Designated Location of Gain (Loss) 2015 2014 2015 2014 Interest rate swaps Interest expense $ — $ (1 ) $ — $ 1 The following table shows the effects of our derivative instruments not designated as hedges in the Consolidated Statements of Earnings: Amount of Gain (Loss) Recognized in Earnings on Derivatives Derivatives not Designated as Hedges Location of Gain (Loss) 2015 2014 Foreign exchange forward contracts Cost of products sold $ 2 $ 3 Foreign exchange forward contracts Other expenses / (income) (3 ) (12 ) Cross-currency swap contracts Other expenses / (income) 58 7 Commodity derivative contracts Cost of products sold (19 ) (4 ) Deferred compensation derivative contracts Administrative expenses 7 2 Total $ 45 $ (4 ) |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Aug. 02, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements We categorize financial assets and liabilities based on the following fair value hierarchy: • Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2: Inputs other than quoted prices included in Level 1 that are observable for the asset or liability through corroboration with observable market data. • Level 3: Unobservable inputs, which are valued based on our estimates of assumptions that market participants would use in pricing the asset or liability. Fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. When available, we use unadjusted quoted market prices to measure the fair value and classifies such items as Level 1. If quoted market prices are not available, we base fair value upon internally developed models that use current market-based or independently sourced market parameters such as interest rates and currency rates. Included in the fair value of derivative instruments is an adjustment for credit and nonperformance risk. Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table presents our financial assets and liabilities that are measured at fair value on a recurring basis as of August 2, 2015 , and August 3, 2014 , consistent with the fair value hierarchy: Fair Value Fair Value Measurements at Fair Value Fair Value Measurements at Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets Forward starting interest rate swaps (1) $ — $ — $ — $ — $ 11 $ — $ 11 $ — Foreign exchange forward contracts (2) 12 — 12 — 2 — 2 — Commodity derivative contracts (3) 1 1 — — 2 1 1 — Cross-currency swap contracts (4) 40 — 40 — — — — — Deferred compensation derivative contracts (5) 1 — 1 — — — — — Total assets at fair value $ 54 $ 1 $ 53 $ — $ 15 $ 1 $ 14 $ — Fair Value Fair Value Measurements at Fair Value Fair Value Measurements at Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Liabilities Forward starting interest rate swaps (1) $ 8 $ — $ 8 $ — $ — $ — $ — $ — Foreign exchange forward contracts (2) 2 — 2 — 3 — 3 — Commodity derivative contracts (3) 10 10 — — 11 11 — — Cross-currency swap contracts (4) — — — — 6 — 6 — Deferred compensation derivative contracts (5) — — — — 3 — 3 — Deferred compensation obligation (6) 120 120 — — 123 123 — — Total liabilities at fair value $ 140 $ 130 $ 10 $ — $ 146 $ 134 $ 12 $ — ___________________________________ (1) Based on LIBOR swap rates. (2) Based on observable market transactions of spot currency rates and forward rates. (3) Based on quoted futures exchanges and on observable prices of futures and options transactions in the marketplace. (4) Based on observable local benchmarks for currency and interest rates. (5) Based on LIBOR and equity index swap rates. (6) Based on the fair value of the participants’ investments. Items Measured at Fair Value on a Nonrecurring Basis In addition to assets and liabilities that are measured at fair value on a recurring basis, we are also required to measure certain items at fair value on a nonrecurring basis. In the fourth quarter of 2015, as part of our annual review of intangible assets, we recognized an impairment charge of $6 on minor trademarks used in the Global Baking and Snacking segment. See also Note 6. The carrying value was $9 as of August 2, 2015 . Fair value was determined based on unobservable Level 3 inputs. Fair value was determined based on discounted cash flow analysis that include significant management assumptions such as revenue growth rates, weighted average cost of capital, and assumed royalty rates. In the second quarter of 2014, we recognized an impairment charge of $11 on plant assets associated with the initiative to restructure manufacturing and streamline operations for our soup and broth business in China. See also Note 8. The carrying value was reduced to estimated fair value based on expected proceeds. The carrying value was not material. On October 28, 2013, we completed the sale of our European simple meals business. The assets and liabilities of the European business have been reflected in assets and liabilities held for sale in the Consolidated Balance Sheet as of July 28, 2013. We reflected the results of the business as discontinued operations in the Consolidated Statements of Earnings. The business was historically included in the International Simple Meals and Beverages segment. In the fourth quarter of 2013, as part of our annual review of intangible assets, an impairment charge of $360 was recorded on goodwill for the simple meals business in Europe to reduce the carrying value to the implied fair value of $110 . The impairment was attributable to a combination of factors, including the existence of a firm offer to purchase the business; a revised future outlook for the business, with reduced expectations for future sales and discounted cash flows, given the economic uncertainty in the region; future investments required to maintain performance; and management's assumptions on the weighted average cost of capital. Fair value was determined based on discounted cash flow analyses, which are unobservable Level 3 inputs, and taking into account the firm offer. The discounted estimates of future cash flows include significant management assumptions such as revenue growth rates, operating margins, weighted average cost of capital, and future economic and market conditions. In the fourth quarter of 2013, as part of our annual review of intangible assets, an impairment charge of $36 was recognized on trademarks used in the European simple meals business. See also Note 6. Fair value was determined based on unobservable Level 3 inputs. Fair value was determined based on discounted cash flow analysis that include significant management assumptions such as revenue growth rates, weighted average costs of capital, and assumed royalty rates. The following table presents our fair value measurements of intangible assets that were recognized in the year ended July 28, 2013: 2013 Intangible assets Impairment Fair Value Blå Band $ 1 $ 19 Heisse Tasse $ 4 $ 6 Isomitta $ 8 $ 4 Royco $ 23 $ 53 In 2013, we also recognized $99 of accelerated depreciation/asset impairment on plant assets associated with the 2013 restructuring initiatives described in Note 8. The carrying value of assets was reduced to estimated fair value based on expected proceeds. The carrying value was $29 at July 28, 2013. Fair Value of Financial Instruments The carrying values of cash and cash equivalents, accounts receivable, accounts payable and short-term borrowings, excluding the current portion of long-term debt, approximate fair value. Cash equivalents of $39 at August 2, 2015 , and $46 at August 3, 2014 , represent fair value as these highly liquid investments have an original maturity of three months or less. Fair value of cash equivalents is based on Level 2 inputs. The fair value of long-term debt, including the current portion of long-term debt in Short-term borrowings, was $2,623 at August 2, 2015 , and $2,647 at August 3, 2014 . The carrying value was $2,552 at August 2, 2015 , and $2,544 at August 3, 2014 . The fair value of long-term debt is principally estimated using Level 2 inputs based on quoted market prices or pricing models using current market rates. |
Shareowners' Equity
Shareowners' Equity | 12 Months Ended |
Aug. 02, 2015 | |
Equity [Abstract] | |
Share Repurchases | Shareholders' Equity We have authorized 560 million shares of Capital stock with $.0375 par value and 40 million shares of Preferred stock, issuable in one or more classes, with or without par as may be authorized by the Board of Directors. No Preferred stock has been issued. In December 2012, 219 million shares held as treasury stock were retired and returned to unissued status. Share Repurchase Programs In June 2011, the Board authorized the purchase of up to $1,000 of our stock. This program has no expiration date. In addition to this publicly announced program, we also purchase shares to offset the impact of dilution from shares issued under our stock compensation plans. In 2015, we repurchased 5 million shares at a cost of $244 . Of this amount, $200 was used to repurchase shares pursuant to our June 2011 publicly announced share repurchase program. Approximately $550 remained available under this program as of August 2, 2015 . In 2014, we repurchased 2 million shares at a cost of $76 and in 2013, we repurchased 4 million shares at a cost of $153 to offset the impact of dilution from shares issued under our stock compensation plans. |
Stock-based Compensation
Stock-based Compensation | 12 Months Ended |
Aug. 02, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-based Compensation | Stock-based Compensation In 2003, shareholders approved the 2003 Long-Term Incentive Plan, which authorized the issuance of an aggregate of 31.2 million shares to satisfy awards of stock options, stock appreciation rights, unrestricted stock, restricted stock/units (including performance restricted stock) and performance units. In 2005, shareholders approved the 2005 Long-Term Incentive Plan, which authorized the issuance of an additional 6 million shares to satisfy the same types of awards. In 2008, shareholders approved an amendment to the 2005 Long-Term Incentive Plan to increase the number of authorized shares to 10.5 million and in 2010, shareholders approved another amendment to the 2005 Long-Term Incentive Plan to increase the number of authorized shares to 17.5 million . Awards under Long-Term Incentive Plans may be granted to employees and directors. Pursuant to the Long-Term Incentive Plan, we adopted a long-term incentive compensation program which provides for grants of total shareholder return (TSR) performance restricted stock/units, EPS performance restricted stock/units, strategic performance restricted stock/units, time-lapse restricted stock/units and special performance restricted stock/units. Under the program, awards of TSR performance restricted stock/units will be earned by comparing our total shareholder return during a three-year period to the respective total shareholder returns of companies in a performance peer group. Based upon our ranking in the performance peer group, a recipient of TSR performance restricted stock/units may earn a total award ranging from 0% to 225% of the initial grant. Awards of EPS performance restricted stock/units will be earned based upon our achievement of annual earnings per share goals. During the three-year vesting period, a recipient of EPS performance restricted stock/units may earn a total award of either 0% or 100% of the initial grant. Awards of the strategic performance restricted stock units are earned based upon the achievement of two key metrics, net sales and EPS growth, compared to strategic plan objectives during a two- or three-year period. A recipient of strategic performance restricted stock units may earn a total award ranging from 0% to 200% of the initial grant. Awards of time-lapse restricted stock/units will vest ratably over the three-year period. In addition, we may issue special grants of restricted stock/units to attract and retain executives which vest over various periods. Awards are generally granted annually in October. Annual stock option grants were not part of the long-term incentive compensation program for 2015, 2014, or 2013. However, stock options may still be granted on a selective basis under the Long-Term Incentive Plans.The term of a stock option granted under these plans may not exceed ten years from the date of grant. Options granted under these plans vest cumulatively over a three -year period at a rate of 30% , 60% and 100% , respectively. The option price may not be less than the fair market value of a share of common stock on the date of the grant. In 2015, we issued time-lapse restricted stock units, EPS performance restricted stock units, TSR performance restricted stock units and special performance restricted stock units. We did not issue strategic performance restricted stock units in 2015. Total pre-tax stock-based compensation expense recognized in Earnings from continuing operations was $57 for 2015, $56 for 2014 and $109 for 2013. The pre-tax stock-based compensation expense recognized in Earnings (loss) from discontinued operations was $1 for 2014 and $4 for 2013. Tax-related benefits of $21 were recognized for 2015 and 2014, and $42 were recognized for 2013. The following table summarizes stock option activity as of August 2, 2015 : Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life Aggregate Intrinsic Value (Options in thousands) (In years) Outstanding at August 3, 2014 408 $ 28.33 Granted — $ — Exercised (331 ) $ 27.98 Terminated (3 ) $ 26.36 Outstanding at August 2, 2015 74 $ 29.91 0.4 $ 1 Exercisable at August 2, 2015 74 $ 29.91 0.4 $ 1 The total intrinsic value of options exercised during 2015, 2014 and 2013, was $5 , $12 and $36 , respectively. As of January 2009, compensation related to stock options was fully expensed. We measured the fair value of stock options using the Black-Scholes option pricing model. The following table summarizes time-lapse restricted stock units, EPS performance restricted stock units, strategic performance restricted stock units and special performance restricted stock units as of August 2, 2015 : Units Weighted- Average Grant-Date Fair Value (Restricted stock units in thousands) Nonvested at August 3, 2014 2,994 $ 37.69 Granted 1,183 $ 43.00 Vested (1,303 ) $ 35.89 Forfeited (464 ) $ 37.00 Nonvested at August 2, 2015 2,410 $ 41.40 We determine the fair value of time-lapse restricted stock units, EPS performance restricted stock units, strategic performance restricted stock units and special performance restricted stock units based on the quoted price of our stock at the date of grant. We expense time-lapse restricted stock units on a straight-line basis over the vesting period, except for awards issued to retirement-eligible participants, which we expense on an accelerated basis. We expense EPS performance restricted stock units on a graded-vesting basis, except for awards issued to retirement-eligible participants, which we expense on an accelerated basis. There were 246 thousand EPS performance target grants outstanding at August 2, 2015 , with a weighted-average grant-date fair value of $40.69 . We expense strategic performance restricted stock units on a straight-line basis over the service period. There were 360 thousand strategic performance target grants outstanding at August 2, 2015 , with a grant-date fair value of $41.21 . The actual number of EPS performance restricted stock units and strategic performance restricted stock units that vest will depend on actual performance achieved. We estimate expense based on the number of awards expected to vest. In 2015, we issued special performance restricted stock units for which vesting is contingent upon meeting various financial goals and performance milestones to support innovation and growth initiatives. These awards vest over a period of 2 years and are included in the table above. The actual number of special performance awards issued at the vesting date could range from 0% to 150% . There were 184 thousand special performance restricted stock units outstanding at August 2, 2015 , with a grant-date fair value of $42.22 . As of August 2, 2015 , total remaining unearned compensation related to nonvested time-lapse restricted stock units, EPS performance restricted stock units, strategic performance restricted stock units and special performance restricted stock units was $32 , which will be amortized over the weighted-average remaining service period of 1.6 years . The fair value of restricted stock units vested during 2015, 2014 and 2013 was $56 , $106 and $57 , respectively. The weighted-average grant-date fair value of the restricted stock units granted during 2014 and 2013 was $39.97 and $35.44 , respectively. The following table summarizes TSR performance restricted stock units as of August 2, 2015 : Units Weighted- Average Grant-Date Fair Value (Restricted stock units in thousands) Nonvested at August 3, 2014 861 $ 38.15 Granted 874 $ 43.39 Vested — $ — Forfeited (156 ) $ 41.23 Nonvested at August 2, 2015 1,579 $ 40.75 We estimated the fair value of TSR performance restricted stock units at the grant date using a Monte Carlo simulation. Assumptions used in the Monte Carlo simulation were as follows: 2015 2014 2013 Risk-free interest rate 0.97% 0.60% 0.30% Expected dividend yield 2.91% 2.98% 3.26% Expected volatility 16.20% 15.76% 15.07% Expected term 3 years 3 years 3 years We recognize compensation expense on a straight-line basis over the service period. As of August 2, 2015 , total remaining unearned compensation related to TSR performance restricted stock units was $26 , which will be amortized over the weighted-average remaining service period of 1.9 years. In the first quarter of 2014 , recipients of TSR performance restricted stock units earned 0% of the initial grants based upon our TSR ranking in a performance peer group during a three-year period ended July 26, 2013. There were no TSR performance restricted stock units granted during 2012. The grant-date fair value of the TSR performance restricted stock units granted during 2014 and 2013 was $36.26 and $39.76 , respectively. In the first quarter of 2016, recipients of TSR performance restricted stock units will receive a 100% payout based upon our TSR ranking in a performance peer group during a three-year period ended July 31, 2015. The excess tax benefits on the exercise of stock options and vested restricted stock presented as cash flows from financing activities were $6 in 2015, $13 in 2014 and $12 in 2013. Cash received from the exercise of stock options was $9 , $18 and $83 for 2015, 2014 and 2013, respectively, and are reflected in cash flows from financing activities in the Consolidated Statements of Cash Flows. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Aug. 02, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies We are a party to legal proceedings and claims arising out of the normal course of business. We assess the probability of loss for all legal proceedings and claims and have recognized liabilities for such contingencies. Although the results of these matters cannot be predicted with certainty, in our opinion, the final outcome of legal proceedings and claims will not have a material adverse effect on our consolidated results of operations or financial condition. We have certain operating lease commitments, primarily related to warehouse and office facilities, and certain equipment. Rent expense under operating lease commitments was $48 in 2015 , $50 in 2014 and $54 in 2013 . These amounts included $2 in 2014 and $8 in 2013 related to discontinued operations. Future minimum annual rental payments under these operating leases as of August 3, 2014, are as follows: 2016 2017 2018 2019 2020 Thereafter $38 $26 $22 $17 $15 $21 We guarantee approximately 2,000 bank loans made to Pepperidge Farm independent sales distributors by third‑party financial institutions for the purchase of distribution routes. The maximum potential amount of future payments under existing guarantees we could be required to make is $192 . Our guarantees are indirectly secured by the distribution routes. We do not believe it is probable that we will be required to make guarantee payments as a result of defaults on the bank loans guaranteed. The amounts recognized as of August 2, 2015, and August 3, 2014, were not material. We have provided certain standard indemnifications in connection with divestitures, contracts and other transactions. Certain indemnifications have finite expiration dates. Liabilities recognized based on known exposures related to such matters were not material at August 2, 2015, and August 3, 2014. |
Supplemental Financial Statemen
Supplemental Financial Statement Data | 12 Months Ended |
Aug. 02, 2015 | |
Supplemental Financial Statement Data [Abstract] | |
Supplemental Financial Information Data | Supplemental Financial Statement Data Balance Sheets 2015 2014 Accounts receivable Customer accounts receivable $ 570 $ 597 Allowances (13 ) (12 ) Subtotal $ 557 $ 585 Other 90 85 $ 647 $ 670 Inventories Raw materials, containers and supplies $ 427 $ 399 Finished products 566 617 $ 993 $ 1,016 Other current assets Deferred taxes $ 115 $ 96 Fair value of derivatives 32 15 Other 52 71 $ 199 $ 182 Plant assets Land $ 57 $ 62 Buildings 1,416 1,384 Machinery and equipment 3,802 3,856 Projects in progress 238 217 Total cost $ 5,513 $ 5,519 Accumulated depreciation (1) (3,166 ) (3,201 ) $ 2,347 $ 2,318 Other assets Fair value of derivatives $ 22 $ — Deferred taxes 25 32 Other 54 55 $ 101 $ 87 2015 2014 Accrued liabilities Accrued compensation and benefits $ 255 $ 237 Fair value of derivatives 12 17 Accrued trade and consumer promotion programs 125 122 Accrued interest 35 37 Restructuring 54 31 Other 108 109 $ 589 $ 553 Other liabilities Pension benefits $ 233 $ 170 Deferred compensation (2) 104 109 Postretirement benefits 362 359 Fair value of derivatives 8 6 Unrecognized tax benefits 26 23 Restructuring 49 — Other 68 62 $ 850 $ 729 ____________________________________ (1) Depreciation expense was $286 in 2015, $287 in 2014 and $393 in 2013. These amounts included $1 in 2013 related to discontinued operations. Buildings are depreciated over periods ranging from 7 to 45 years. Machinery and equipment are depreciated over periods generally ranging from 2 to 20 years. (2) The deferred compensation obligation represents unfunded plans maintained for the purpose of providing our directors and certain of our executives the opportunity to defer a portion of their compensation. All forms of compensation contributed to the deferred compensation plans are accounted for in accordance with the underlying program. Deferrals and our contributions are credited to an investment account in the participant's name, although no funds are actually contributed to the investment account and no investments are actually purchased. Seven investment choices are available, including: (1) a book account that tracks the total return on our stock; (2) a book account that tracks the performance of the Vanguard Institutional Index; (3) a book account that tracks the performance of the Vanguard Extended Market Index; (4) a book account that tracks the performance of the Vanguard Total International Stock Index; (5) a book account that tracks the performance of the Vanguard Total Bond Market Index; (6) a book account that tracks the performance of the Vanguard Short-Term Bond Index; and (7) a book account that tracks the BlackRock Liquidity TempFund. Participants can reallocate investments daily and are entitled to the gains and losses on investment funds. We recognize an amount in the Consolidated Statements of Earnings for the market appreciation/depreciation of each fund. Statements of Earnings 2015 2014 2013 Other Expenses/(Income) Foreign exchange (gains)/losses (1) $ — $ 6 $ 3 Amortization of intangible assets 17 18 14 Impairment of intangible assets (2) 6 — — Acquisition related costs — — 10 Other 1 (2 ) 2 $ 24 $ 22 $ 29 Advertising and consumer promotion expense (3) $ 385 $ 411 $ 419 Interest expense Interest expense $ 111 $ 124 $ 138 Less: Interest capitalized 3 2 3 $ 108 $ 122 $ 135 ____________________________________ (1) 2014 included a loss of $9 on foreign exchange forward contracts used to hedge the proceeds from the sale of the European simple meals business. (2) In 2015, we recognized a $6 impairment charge related to minor trademarks. See also Note 6. (3) Included in Marketing and selling expenses. Statements of Cash Flows 2015 2014 2013 Cash Flows from Operating Activities Other non-cash charges to net earnings Non-cash compensation/benefit related expense $ 78 $ 114 $ 134 Other 16 4 21 $ 94 $ 118 $ 155 Other Benefit related payments $ (53 ) $ (52 ) $ (54 ) Other 1 (1 ) (4 ) $ (52 ) $ (53 ) $ (58 ) Other Cash Flow Information Interest paid $ 111 $ 122 $ 124 Interest received $ 3 $ 3 $ 10 Income taxes paid $ 333 $ 421 $ 345 |
Product Recall
Product Recall | 12 Months Ended |
Aug. 02, 2015 | |
Product Recall [Abstract] | |
Product Recall [Text Block] | Voluntary Product Recall On November 8, 2013, we voluntarily recalled a range of Plum products packaged in resealable pouches after discovering a manufacturing defect that may cause spoilage in some pouches. In the first quarter of 2014, we recognized costs of $16 ( $11 after tax, or $.03 per share) associated with the recall, including estimates for customer returns and consumer rebates, costs associated with returned product and the disposal and write-off of inventory. |
Quarterly Data Quarterly Data
Quarterly Data Quarterly Data | 12 Months Ended |
Aug. 02, 2015 | |
Quarterly Financial Data [Abstract] | |
Quarterly Data | Quarterly Data (unaudited) 2015 First Second Third Fourth Net sales $ 2,255 $ 2,234 $ 1,900 $ 1,693 Gross profit 783 728 682 612 Net earnings attributable to Campbell Soup Company 234 207 182 68 Per share - basic Net earnings attributable to Campbell Soup Company .75 .66 .59 .22 Dividends .312 .312 .312 .312 Per share - assuming dilution Net earnings attributable to Campbell Soup Company .74 .66 .58 .22 Market price High $ 45.12 $ 47.45 $ 48.31 $ 49.54 Low $ 41.15 $ 42.70 $ 44.45 $ 44.92 2015 First Second Third Fourth In 2015, the following charges were recorded in Net earnings attributable to Campbell Soup Company: Restructuring charges and implementation costs (see Note 8) $ — $ — $ 11 $ 67 Per share - assuming dilution Restructuring charges and implementation costs — — .04 .21 2014 First Second Third Fourth Net sales $ 2,165 $ 2,281 $ 1,970 $ 1,852 Gross profit 777 814 676 631 Earnings from continuing operations attributable to Campbell Soup Company 181 235 184 137 Earnings (loss) from discontinued operations (9 ) 90 — — Net earnings attributable to Campbell Soup Company 172 325 184 137 Per share - basic Earnings from continuing operations attributable to Campbell Soup Company .58 .75 .59 .44 Earnings (loss) from discontinued operations (.03 ) .29 — — Net earnings attributable to Campbell Soup Company (1) .55 1.04 .59 .44 Dividends .312 .312 .312 .312 Per share - assuming dilution Earnings from continuing operations attributable to Campbell Soup Company .57 .74 .58 .43 Earnings (loss) from discontinued operations (.03 ) .28 — — Net earnings attributable to Campbell Soup Company (1) .54 1.03 .58 .43 Market price High $ 48.08 $ 43.70 $ 45.48 $ 46.67 Low $ 39.87 $ 38.30 $ 39.60 $ 41.39 ____________________________________ (1) The sum of the individual per share amounts may not add due to rounding. 2014 First Second Third Fourth In 2014, the following charges were recorded in Earnings from continuing operations: Restructuring charges and related costs (see Note 8) $ 15 $ 5 $ 1 $ 15 Pension settlement charges (see Note 11) — — 11 3 Loss on foreign exchange forward contracts related to the sale of the European simple meals business (see Note 19) 6 — — — Tax expense associated with the sale of the European simple meals business 7 — — — Per share - assuming dilution Restructuring charges and related costs .05 .02 — .05 Pension settlement charges — — .03 .01 Loss on foreign exchange forward contracts related to the sale of the European simple meals business .02 — — — Tax expense associated with the sale of the European simple meals business .02 — — — In 2014, the following charges (gains) were recorded in Earnings (loss) from discontinuing operations: Taxes, costs associated with the sale, and gain on sale of the European simple meals business (see Note 4) $ 18 $ (90 ) — — Per share - assuming dilution Taxes, costs associated with the sale, and gain on sale of the European simple meals business (see Note 4) .06 (.28 ) — — |
Valuation and Qualifying Accoun
Valuation and Qualifying Accounts | 12 Months Ended |
Aug. 02, 2015 | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | CAMPBELL SOUP COMPANY Valuation and Qualifying Accounts For the Fiscal Years ended August 2, 2015, August 3, 2014 and July 28, 2013 (Millions) Balance at Beginning of Period Charged to/ (Reduction in) Costs and Expenses Deductions Acquisitions Balance at End of Period Fiscal year ended August 2, 2015 Cash discount $ 4 $ 116 $ (115 ) $ — $ 5 Bad debt reserve 3 2 (1 ) — 4 Returns reserve (1) 5 — (1 ) — 4 Total Accounts receivable allowances $ 12 $ 118 $ (117 ) $ — $ 13 Fiscal year ended August 3, 2014 Cash discount $ 5 $ 114 $ (115 ) $ — $ 4 Bad debt reserve 2 — (1 ) 2 3 Returns reserve (1) 4 1 — — 5 Total Accounts receivable allowances $ 11 $ 115 $ (116 ) $ 2 $ 12 Fiscal year ended July 28, 2013 Cash discount $ 4 $ 114 $ (113 ) $ — $ 5 Bad debt reserve 2 1 (1 ) — 2 Returns reserve (1) 4 1 (1 ) — 4 Total Accounts receivable allowances $ 10 $ 116 $ (115 ) $ — $ 11 _______________________________________ (1) The returns reserve is evaluated quarterly and adjusted accordingly. During each period, returns are charged to net sales in the Consolidated Statements of Earnings as incurred. Actual returns were approximately $105 in 2015, $118 in 201 and $124 in 2013, or less than 2% of net sales. |
Basis of Presentation and Sig29
Basis of Presentation and Significant Accounting Policies Accounting Policies (Policies) | 12 Months Ended |
Aug. 02, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation — The consolidated financial statements include our accounts and entities in which we maintain a controlling financial interest. Intercompany transactions are eliminated in consolidation. Certain amounts in prior-year financial statements were reclassified to conform to the current-year presentation. Our fiscal year ends on the Sunday nearest July 31. There were 52 weeks in 2015 and 2013, and 53 weeks in 2014. |
Use of Estimates | Use of Estimates — Generally accepted accounting principles require management to make estimates and assumptions that affect assets, liabilities, revenues and expenses. Actual results could differ from those estimates. |
Revenue Recognition | Revenue Recognition — Revenues are recognized when the earnings process is complete. This occurs when products are shipped in accordance with terms of agreements, title and risk of loss transfer to customers, collection is probable and pricing is fixed or determinable. Revenues are recognized net of provisions for returns, discounts and allowances. Certain sales promotion expenses, such as feature price discounts, in-store display incentives, cooperative advertising programs, new product introduction fees and coupon redemption costs, are classified as a reduction of sales. The recognition of costs for promotion programs involves the use of judgment related to performance and redemption estimates. Estimates are made based on historical experience and other factors. Costs are recognized either upon sale or when the incentive is offered, based on the program. Revenues are presented on a net basis for arrangements under which suppliers perform certain additional services. |
Cash and Cash Equivalents | Cash and Cash Equivalents — All highly liquid debt instruments purchased with a maturity of three months or less are classified as cash equivalents. |
Inventories | Inventories — All inventories are valued at the lower of average cost or market. |
Property, Plant and Equipment | Property, Plant and Equipment — Property, plant and equipment are recorded at historical cost and are depreciated over estimated useful lives using the straight-line method. Buildings and machinery and equipment are depreciated over periods not exceeding 45 years and 20 years, respectively. Assets are evaluated for impairment when conditions indicate that the carrying value may not be recoverable. Such conditions include significant adverse changes in business climate or a plan of disposal. Repairs and maintenance are charged to expense as incurred. |
Goodwill and Intangible Assets | Goodwill and Intangible Assets — Goodwill and intangible assets deemed to have indefinite lives are not amortized but rather are tested at least annually for impairment, or when circumstances indicate that the carrying amount of the asset may not be recoverable. Goodwill is tested for impairment at the reporting unit level. A reporting unit is an operating segment or a component of an operating segment. Goodwill is tested for impairment by either performing a qualitative evaluation or a two-step quantitative test. The qualitative evaluation is an assessment of factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. We may elect not to perform the qualitative assessment for some or all reporting units and perform a two-step quantitative impairment test. Fair value is determined based on discounted cash flow analyses. The discounted estimates of future cash flows include significant management assumptions such as revenue growth rates, operating margins, weighted average cost of capital, and future economic and market conditions. If the carrying value of the reporting unit exceeds fair value, goodwill is considered impaired. The amount of the impairment is the difference between the carrying value of the goodwill and the “implied” fair value, which is calculated as if the reporting unit had just been acquired and accounted for as a business combination. Indefinite-lived intangible assets are tested for impairment by comparing the fair value of the asset to the carrying value. Fair value is determined based on discounted cash flow analyses that include significant management assumptions such as revenue growth rates, weighted average cost of capital, and assumed royalty rates. If the fair value is less than the carrying value, the asset is reduced to fair value. See Note 6 for information on intangible assets and impairment charges recognized in 2013 and 2015. |
Derivative Financial Instruments | Derivative Financial Instruments — We use derivative financial instruments primarily for purposes of hedging exposures to fluctuations in foreign currency exchange rates, interest rates, commodities and equity-linked employee benefit obligations. We enter into these derivative contracts for periods consistent with the related underlying exposures, and the contracts do not constitute positions independent of those exposures. We do not enter into derivative contracts for speculative purposes and do not use leveraged instruments. Our derivative programs include strategies that qualify and strategies that do not qualify for hedge accounting treatment. To qualify for hedge accounting, the hedging relationship, both at inception of the hedge and on an ongoing basis, is expected to be highly effective in achieving offsetting changes in the fair value of the hedged risk during the period that the hedge is designated. All derivatives are recognized on the balance sheet at fair value. For derivatives that qualify for hedge accounting, on the date the derivative contract is entered into, we designate the derivative as a hedge of the fair value of a recognized asset or liability or a firm commitment (fair-value hedge), a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability (cash-flow hedge), or a hedge of a net investment in a foreign operation. Some derivatives may also be considered natural hedging instruments (changes in fair value act as economic offsets to changes in fair value of the underlying hedged item) and are not designated for hedge accounting. Changes in the fair value of a fair-value hedge, along with the gain or loss on the underlying hedged asset or liability (including losses or gains on firm commitments), are recorded in current-period earnings. The effective portion of gains and losses on cash-flow hedges are recorded in other comprehensive income (loss), until earnings are affected by the variability of cash flows. If the hedge is no longer effective, all changes in the fair value of the derivative are included in earnings each period until the instrument matures. If a derivative is used as a hedge of a net investment in a foreign operation, its changes in fair value, to the extent effective as a hedge, are recorded in other comprehensive income (loss). Any ineffective portion of designated hedges is recognized in current-period earnings. Changes in the fair value of derivatives that are not designated for hedge accounting are recognized in current-period earnings. Cash flows from derivative contracts are included in Net cash provided by operating activities. |
Advertising Costs | Advertising Production Costs — Advertising production costs are expensed in the period that the advertisement first takes place or when a decision is made not to use an advertisement. |
Research and Development Costs | Research and Development Costs — The costs of research and development are expensed as incurred. Costs include expenditures for new product and manufacturing process innovation, and improvements to existing products and processes. Costs primarily consist of salaries, wages, consulting, and depreciation and maintenance of research facilities and equipment. |
Income Taxes | Income Taxes — Deferred tax assets and liabilities are recognized for the future impact of differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases, as well as for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. |
Fair Value Measurement, Policy [Policy Text Block] | We categorize financial assets and liabilities based on the following fair value hierarchy: • Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2: Inputs other than quoted prices included in Level 1 that are observable for the asset or liability through corroboration with observable market data. • Level 3: Unobservable inputs, which are valued based on our estimates of assumptions that market participants would use in pricing the asset or liability. Fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. When available, we use unadjusted quoted market prices to measure the fair value and classifies such items as Level 1. If quoted market prices are not available, we base fair value upon internally developed models that use current market-based or independently sourced market parameters such as interest rates and currency rates. Included in the fair value of derivative instruments is an adjustment for credit and nonperformance risk. |
Acquistions (Tables)
Acquistions (Tables) | 12 Months Ended |
Aug. 02, 2015 | |
Business Acquisition [Line Items] | |
Schedule of Purchase Price Allocation [Table Text Block] | The acquired assets and assumed liabilities include the following: Garden Fresh Gourmet Kelsen Plum Bolthouse Farms Cash $ — $ 2 $ 1 $ 3 Accounts receivable 10 20 15 74 Inventories 5 50 20 122 Other current assets — 2 1 8 Plant assets 22 47 2 335 Goodwill 116 140 128 692 Other intangible assets 86 173 133 580 Other assets — — — 8 Short-term debt — (32 ) — (1 ) Accounts payable (6 ) (13 ) (12 ) (59 ) Accrued liabilities (1 ) (10 ) (5 ) (29 ) Long-term debt — (4 ) — (1 ) Deferred income taxes — (44 ) (34 ) (156 ) Other liabilities — — — (15 ) Total assets acquired and liabilities assumed $ 232 $ 331 $ 249 $ 1,561 |
Schedule of Intangible Assets Acquired As Part of Business Combination [Table Text Block] | The identifiable intangible assets of Bolthouse consist of: Type Life in Years Value Trademarks Non-amortizable Indefinite $ 383 Customer relationships Amortizable 20 132 Distributor relationship Amortizable 7 2 Technology and patents Amortizable 9 to 17 43 Formula and recipes Amortizable 5 20 Total identifiable intangible assets $ 580 |
Business Acquisition, Pro Forma Information [Table Text Block] | The following unaudited summary information is presented on a consolidated pro forma basis as if the Garden Fresh Gourmet acquisition had occurred on July 29, 2013, the Kelsen acquisition had occurred on July 30, 2012, and the Plum and Bolthouse acquisitions been completed on August 1, 2011: 2015 2014 2013 Net sales $ 8,174 $ 8,372 $ 8,327 Earnings from continuing operations attributable to Campbell Soup Company $ 693 $ 741 $ 684 Earnings per share from continuing operations attributable to Campbell Soup Company - assuming dilution $ 2.21 $ 2.34 $ 2.16 |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 12 Months Ended |
Aug. 02, 2015 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | Results of discontinued operations were as follows: 2014 2013 Net sales $ 137 $ 532 Gain on sale of the European simple meals business $ 141 $ — Impairment on the European simple meals business — (396 ) Earnings from operations, before taxes 14 65 Earnings (loss) before taxes $ 155 $ (331 ) Taxes on earnings (74 ) 100 Earnings (loss) from discontinued operations $ 81 $ (231 ) |
Accumulated Other Comprehensi32
Accumulated Other Comprehensive Income (Tables) | 12 Months Ended |
Aug. 02, 2015 | |
Equity [Abstract] | |
Components Of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The components of Accumulated other comprehensive income (loss) consisted of the following: Foreign Currency Translation Adjustments (1) Gains (Losses) on Cash Flow Hedges (2) Pension and Postretirement Benefit Plan Adjustments (3) Total Accumulated Comprehensive Income (Loss) Balance at July 28, 2013 $ 170 $ 5 $ (740 ) $ (565 ) Other comprehensive income (loss) before reclassifications (14 ) (8 ) (35 ) (57 ) Amounts reclassified from accumulated other comprehensive income (loss) (19 ) — 72 53 Net current-period other comprehensive income (loss) (33 ) (8 ) 37 (4 ) Balance at August 3, 2014 $ 137 $ (3 ) $ (703 ) $ (569 ) Other comprehensive income (loss) before reclassifications (322 ) (2 ) (77 ) (401 ) Amounts reclassified from accumulated other comprehensive income (loss) — — 61 61 Net current-period other comprehensive income (loss) (322 ) (2 ) (16 ) (340 ) Balance at August 2, 2015 $ (185 ) $ (5 ) $ (719 ) $ (909 ) _____________________________________ (1) Included a tax expense of $6 as of August 2, 2015 , $7 as of August 3, 2014 , and $9 as of July 28, 2013 . The amount reclassified from other comprehensive income was related to the divestiture of the European simple meals business and was included in Earnings (loss) from discontinued operations. (2) Included a tax benefit of $5 as of August 2, 2015 , $1 as of August 3, 2014 , and a tax expense of $3 as of July 28, 2013 . (3) Included a tax benefit of $417 as of August 2, 2015 , $405 as of August 3, 2014 , and $424 as of July 28, 2013 . The amount reclassified in 2014 from other comprehensive income included pre-tax settlement charges of $22 , or $14 after tax. |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | The amounts reclassified from Accumulated other comprehensive income (loss) consisted of the following: Details about Accumulated Other Comprehensive Income (Loss) Components 2015 2014 2013 Location of (Gain) Loss Recognized in Earnings (Gains) losses on cash flow hedges: Foreign exchange forward contracts $ (4 ) $ (4 ) $ 1 Cost of products sold Foreign exchange forward contracts (1 ) 1 (1 ) Other expenses / (income) Forward starting interest rate swaps 4 3 4 Interest expense Total before tax (1 ) — 4 Tax expense (benefit) 1 — (1 ) (Gain) loss, net of tax $ — $ — $ 3 Pension and postretirement benefit adjustments: Prior service credit $ (2 ) $ (2 ) $ (2 ) (1) Net actuarial losses 98 113 124 (1) Total before tax 96 111 122 Tax expense (benefit) (35 ) (39 ) (54 ) (Gain) loss, net of tax $ 61 $ 72 $ 68 _____________________________________ (1) In 2014, net actuarial losses of $2 were recognized in Earnings (loss) from discontinued operations as a result of the sale of the European simple meals business. Excluding the net actuarial losses related to the sale of the business in 2014, these items are included in the components of net periodic benefit costs (see Note 11 for additional details). |
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables) | 12 Months Ended |
Aug. 02, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill [Table Text Block] | The following table shows the changes in the carrying amount of goodwill by business segment: U.S. Simple Meals Global Baking and Snacking International Simple Meals and Beverages U.S. Beverages Bolthouse and Foodservice Total Balance at July 28, 2013 $ 450 $ 775 $ 122 $ 112 $ 838 $ 2,297 Acquisition — 140 — — — 140 Foreign currency translation adjustment — 3 (7 ) — — (4 ) Balance at August 3, 2014 $ 450 $ 918 $ 115 $ 112 $ 838 $ 2,433 Acquisition — — — — 116 116 Foreign currency translation adjustment — (186 ) (19 ) — — (205 ) Balance at August 2, 2015 $ 450 $ 732 $ 96 $ 112 $ 954 $ 2,344 |
Intangible Assets Disclosure [Text Block] | The following table sets forth balance sheet information for intangible assets, excluding goodwill, subject to amortization and intangible assets not subject to amortization: Intangible Assets 2015 2014 Amortizable intangible assets Customer relationships $ 222 $ 178 Technology 40 40 Other 35 35 Total gross amortizable intangible assets $ 297 $ 253 Accumulated amortization (52 ) (35 ) Total net amortizable intangible assets $ 245 $ 218 Non-amortizable intangible assets Trademarks 960 957 Total net intangible assets $ 1,205 $ 1,175 |
Business And Geographic Segme34
Business And Geographic Segment Information (Tables) | 12 Months Ended |
Aug. 02, 2015 | |
Segment Reporting [Abstract] | |
Schedule Of Segment Reporting | 2015 2014 2013 Net sales U.S. Simple Meals $ 2,930 $ 2,944 $ 2,849 Global Baking and Snacking 2,375 2,440 2,273 International Simple Meals and Beverages 700 780 869 U.S. Beverages 689 723 742 Bolthouse and Foodservice 1,388 1,381 1,319 Total $ 8,082 $ 8,268 $ 8,052 2015 2014 2013 Earnings before interest and taxes U.S. Simple Meals $ 677 $ 714 $ 731 Global Baking and Snacking 350 332 316 International Simple Meals and Beverages 80 106 108 U.S. Beverages 113 127 120 Bolthouse and Foodservice 107 117 116 Corporate (1) (130 ) (149 ) (260 ) Restructuring charges (2) (102 ) (55 ) (51 ) Total $ 1,095 $ 1,192 $ 1,080 2015 2014 2013 Depreciation and amortization U.S. Simple Meals $ 80 $ 77 $ 146 Global Baking and Snacking 87 93 83 International Simple Meals and Beverages 18 19 23 U.S. Beverages 22 21 39 Bolthouse and Foodservice 80 80 90 Corporate (4) 16 15 15 Discontinued Operations — — 11 Total $ 303 $ 305 $ 407 2015 2014 2013 Capital expenditures U.S. Simple Meals and U.S. Beverages (3) $ 118 $ 115 $ 82 Global Baking and Snacking 128 120 112 International Simple Meals and Beverages 28 26 19 Bolthouse and Foodservice 82 57 83 Corporate (4) 24 28 30 Discontinued Operations — 1 10 Total $ 380 $ 347 $ 336 _______________________________________ (1) Represents unallocated corporate expenses. Costs of $22 related to the implementation of our new organizational structure and cost reduction initiatives were included in 2015. Pension settlement charges of $22 associated with a U.S. pension plan were included in 2014. The settlements resulted from the level of lump sum distributions from the plan's assets in 2014, primarily due to the closure of the facility in Sacramento, California. In addition, a loss of $9 on foreign exchange forward contracts related to the sale of the European simple meals business and restructuring-related costs of $3 were included in 2014. Restructuring-related costs of $91 and acquisition costs of $10 were included in 2013. (2) See Note 8 for additional information. (3) Capital expenditures for U.S. Simple Meals and U.S. Beverages are not maintained by segment. (4) Represents primarily corporate offices. |
Additional Product Information for Net Sales | Our global net sales based on product categories are as follows: 2015 2014 2013 Net sales Simple Meals $ 4,446 $ 4,511 $ 4,446 Baked Snacks 2,502 2,571 2,408 Beverages 1,134 1,186 1,198 Total $ 8,082 $ 8,268 $ 8,052 |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | Information about operations in different geographic areas is as follows: 2015 2014 2013 Net sales United States $ 6,400 $ 6,432 $ 6,195 Australia 646 709 801 Other countries 1,036 1,127 1,056 Total $ 8,082 $ 8,268 $ 8,052 2015 2014 2013 Long-lived assets United States $ 1,942 $ 1,844 $ 1,804 Australia 232 306 317 Other countries 173 168 139 Total $ 2,347 $ 2,318 $ 2,260 |
Restructuring Charges (Tables)
Restructuring Charges (Tables) | 12 Months Ended |
Aug. 02, 2015 | |
2015 Initiatives [Member] | |
Schedule Of Pre-Tax Charge And Remaining Costs | A summary of the pre-tax costs associated with the 2015 initiatives is as follows: Recognized Severance pay and benefits $ 94 Implementation and other costs 30 Total $ 124 |
Schedule Of Restructuring Activity And Related Reserves | A summary of the restructuring activity and related reserves associated with the 2015 initiatives at August 2, 2015 , is as follows: Accrued Balance at August 3, 2014 2015 Charges 2015 Cash Payments Foreign Currency Translation Adjustment Accrued Balance at August 2, 2015 (3) Severance pay and benefits $ — $ 87 $ (1 ) $ (1 ) $ 85 Other costs — 8 — — 8 $ — 95 $ (1 ) $ (1 ) $ 93 Non-cash benefits (1) 7 Implementation costs (2) 22 Total charges $ 124 _______________________________________ (1) Represents postretirement and pension curtailment costs. See Note 11. (2) Includes other costs recognized as incurred that are not reflected in the restructuring reserve in the Consolidated Balance Sheet. The costs are included in Administrative expenses in the Consolidated Statements of Earnings. (3) Includes $45 of severance pay and benefits recorded in Other liabilities in the Consolidated Balance Sheet. |
Schedule Of Restructuring Charges Associated With Each Reportable Segment | A summary of the pre-tax costs incurred to date associated with segments is as follows: U.S. Simple Meals Global Baking and Snacking International Simple Meals and Beverages U.S. Beverages Bolthouse and Foodservice Corporate Total Severance pay and benefits $ 33 $ 41 $ 5 $ 8 $ 4 $ 3 $ 94 Implementation and other costs 5 2 — 1 — 22 30 $ 38 $ 43 $ 5 $ 9 $ 4 $ 25 $ 124 |
2014 Initiatives [Member] | |
Schedule Of Pre-Tax Charge And Remaining Costs | A summary of the pre-tax costs associated with the 2014 initiatives is as follows: Total Program Severance pay and benefits $ 41 Asset impairment 12 Other exit costs 1 Total $ 54 |
Schedule Of Restructuring Activity And Related Reserves | A summary of the restructuring activity and related reserves associated with the 2014 initiatives at August 2, 2015 , is as follows: Accrued Balance at July 28, 2013 2014 Charges 2014 Cash Payments Accrued Balance at August 3, 2014 2015 Cash Foreign Currency Translation Adjustment Accrued Balance at August 2, 2015 (2) Severance pay and benefits $ — $ 41 (13 ) 28 (16 ) (2 ) $ 10 Asset impairment 12 Other exit costs (1) 1 Total charges $ 54 _______________________________________ (1) Includes non-cash costs that are not reflected in the restructuring reserve in the Consolidated Balance Sheet. (2) Includes $4 of severance pay and benefits recorded in Other liabilities in the Consolidated Balance Sheet. |
Schedule Of Restructuring Charges Associated With Each Reportable Segment | A summary of restructuring charges associated with segments is as follows: U.S. Simple Meals Global Baking and Snacking International Simple Meals and Beverages U.S. Beverages Bolthouse and Foodservice Corporate Total Severance pay and benefits $ 7 $ 23 $ 6 $ 2 $ 2 $ 1 $ 41 Asset impairment 1 — 11 — — — 12 Other exit costs — — 1 — — — 1 $ 8 $ 23 $ 18 $ 2 $ 2 $ 1 $ 54 |
2013 Initiatives [Member] | |
Schedule Of Pre-Tax Charge And Remaining Costs | A summary of the pre-tax costs associated with the 2013 initiatives recognized is as follows: Total Program Severance pay and benefits $ 35 Accelerated depreciation/asset impairment 99 Other exit costs 12 Total $ 146 |
Schedule Of Restructuring Activity And Related Reserves | A summary of the restructuring activity and related reserves associated with the 2013 initiatives at August 2, 2015 , is as follows: Severance Pay and Benefits Asset Impairment/Accelerated Depreciation Non-Cash Benefits (1) Other Exit Costs (2) Total Charges Accrued balance at July 29, 2012 $ — 2013 charges 32 99 3 8 $ 142 2013 cash payments (15 ) Accrued balance at July 28, 2013 $ 17 2014 charges — — — 4 $ 4 2014 cash payments (14 ) Accrued balance at August 3, 2014 $ 3 2015 cash payments (3 ) Accrued balance at August 2, 2015 $ — _______________________________________ (1) Represents pension curtailment costs. See Note 11. (2) Includes non-cash costs and other exit costs recognized as incurred that are not reflected in the restructuring reserve in the Consolidated Balance Sheet |
Schedule Of Restructuring Charges Associated With Each Reportable Segment | A summary of restructuring charges and related costs associated with segments is as follows: U.S. Simple Meals Global Baking and Snacking International Simple Meals and Beverages U.S. Beverages Bolthouse and Foodservice Total Severance pay and benefits $ 19 $ 2 $ 5 $ 7 $ 2 $ 35 Accelerated depreciation/asset impairment 64 10 3 22 — 99 Other exit costs 7 2 1 2 — 12 $ 90 $ 14 $ 9 $ 31 $ 2 $ 146 |
Pension And Postretirement Be36
Pension And Postretirement Benefits (Tables) | 12 Months Ended |
Aug. 02, 2015 | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Changes in Projected Benefit Obligations [Table Text Block] | Change in benefit obligation: Pension Postretirement 2015 2014 2015 2014 Obligation at beginning of year $ 2,539 $ 2,489 $ 388 $ 390 Service cost 28 42 2 2 Interest cost 105 115 15 17 Actuarial loss 107 154 7 5 Participant contributions — — 3 6 Benefits paid (151 ) (191 ) (33 ) (35 ) Medicare subsidies — — 4 3 Other (1 ) (4 ) — — Settlements — (43 ) — — Curtailment 1 — 6 — Foreign currency adjustment (59 ) (12 ) — — Divestiture — (11 ) — — Benefit obligation at end of year $ 2,569 $ 2,539 $ 392 $ 388 |
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | Amounts recognized in the Consolidated Balance Sheets: Pension Postretirement 2015 2014 2015 2014 Other assets $ — $ 7 $ — $ — Accrued liabilities (20 ) (12 ) (30 ) (29 ) Other liabilities (233 ) (170 ) (362 ) (359 ) Net amount recognized $ (253 ) $ (175 ) $ (392 ) $ (388 ) Pension Postretirement Amounts recognized in accumulated other comprehensive loss consist of: 2015 2014 2015 2014 Net actuarial loss $ 1,051 $ 1,019 $ 90 $ 96 Prior service credit (1 ) (2 ) (4 ) (5 ) Total $ 1,050 $ 1,017 $ 86 $ 91 |
Schedule of Assumptions Used [Table Text Block] | Weighted-average assumptions used to determine benefit obligations at the end of the year: Pension Postretirement 2015 2014 2015 2014 Discount rate 4.19% 4.33% 4.00% 4.00% Rate of compensation increase 3.29% 3.30% 3.25% 3.25% |
Schedule of Expected Benefit Payments [Table Text Block] | Estimated future benefit payments are as follows: Pension Postretirement 2016 $ 246 $ 30 2017 $ 169 $ 31 2018 $ 165 $ 31 2019 $ 168 $ 31 2020 $ 165 $ 31 2021-2025 $ 828 $ 141 |
Pension Plan, Defined Benefit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Net Benefit Costs [Table Text Block] | Components of benefit expense were as follows: Pension 2015 2014 2013 Service cost $ 28 $ 42 $ 57 Interest cost 105 115 108 Expected return on plan assets (173 ) (176 ) (177 ) Amortization of prior service credit (1 ) (1 ) (1 ) Recognized net actuarial loss 84 76 108 Curtailment loss 1 — 3 Settlement charges — 22 — Net periodic benefit expense $ 44 $ 78 $ 98 |
Schedule of Changes in Fair Value of Plan Assets [Table Text Block] | Change in the fair value of pension plan assets: 2015 2014 Fair value at beginning of year $ 2,364 $ 2,275 Actual return on plan assets 143 276 Employer contributions 5 46 Benefits paid (141 ) (179 ) Settlements — (43 ) Foreign currency adjustment (55 ) (11 ) Fair value at end of year $ 2,316 $ 2,364 |
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] | The following table provides information for pension plans with accumulated benefit obligations in excess of plan assets: 2015 2014 Projected benefit obligation $ 1,926 $ 269 Accumulated benefit obligation $ 1,906 $ 257 Fair value of plan assets $ 1,684 $ 92 |
Schedule of Assumptions Used [Table Text Block] | Weighted-average assumptions used to determine net periodic benefit cost for the years ended: Pension 2015 2014 2013 Discount rate 4.33% 4.82% 4.05% Expected return on plan assets 7.62% 7.62% 7.65% Rate of compensation increase 3.30% 3.30% 3.31% |
Schedule of Allocation of Plan Assets [Table Text Block] | Our year-end pension plan weighted-average asset allocations by category were: Strategic Target 2015 2014 Equity securities 51% 50% 51% Debt securities 35% 34% 33% Real estate and other 14% 16% 16% Net periodic benefit expense 100% 100% 100% Pension plan assets are categorized based on the following fair value hierarchy: • Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2: Inputs other than quoted prices included in Level 1 that are observable for the asset or liability through corroboration with observable market data. • Level 3: Unobservable inputs, which are valued based on our estimates of assumptions that market participants would use in pricing the asset or liability. The following table presents our pension plan assets by asset category at August 2, 2015 , and August 3, 2014 : Fair Value Fair Value Measurements at Fair Value Fair Value Measurements at Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Short-term investments $ 32 $ 32 $ — $ — $ 23 $ 23 $ — $ — Equities: U.S. 386 386 — — 378 378 — — Non-U.S. 312 312 — — 332 332 — — Corporate bonds: U.S. 494 — 494 — 469 — 469 — Non-U.S. 102 — 102 — 114 — 114 — Government and agency bonds: U.S. 42 — 42 — 62 — 62 — Non-U.S. 36 — 36 — 46 — 46 — Municipal bonds 68 — 68 — 84 — 84 — Mortgage and asset backed securities 9 — 9 — 13 — 13 — Real estate 14 8 — 6 8 5 — 3 Hedge funds 39 — — 39 30 — — 30 Derivative assets 5 — 5 — 8 — 8 — Derivative liabilities (6 ) — (6 ) — (6 ) — (6 ) — Total assets at fair value $ 1,533 $ 738 $ 750 $ 45 $ 1,561 $ 738 $ 790 $ 33 Investments measured at net asset value: Short-term investments 28 37 Commingled funds: Equities 375 393 Fixed income 31 36 Blended 79 95 Real estate 117 109 Hedge funds 175 151 Total investments measured at net asset value: 805 821 Other items to reconcile to fair value of plan assets (22 ) (18 ) Total pension assets at fair value $ 2,316 $ 2,364 |
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block] | The following table summarizes the changes in fair value of Level 3 investments for the years ended August 2, 2015 , and August 3, 2014 : Real Estate Hedge Funds Total Fair value at August 3, 2014 $ 3 $ 30 $ 33 Actual return on plan assets 1 2 3 Purchases 2 7 9 Sales — — — Settlements — — — Transfers out of Level 3 — — — Fair value at August 2, 2015 $ 6 $ 39 $ 45 Real Estate Hedge Funds Total Fair value at July 28, 2013 $ — $ 25 $ 25 Actual return on plan assets — 1 1 Purchases 3 4 7 Sales — — — Settlements — — — Transfers out of Level 3 — — — Fair value at August 3, 2014 $ 3 $ 30 $ 33 |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Table Text Block] | The following table presents additional information about the pension plan assets valued using NAV as a practical expedient within the fair value hierarchy table. 2015 2014 Fair Value Unfunded Commitments Fair Value Unfunded Commitments Redemption Frequency Redemption Notice Period Range Short-term investments $ 28 $ — $ 37 $ — Daily 1 Day Commingled funds: Equities 375 — 393 — Daily, Monthly 1 to 120 Days Fixed income 31 — 36 — Daily 1 Day Blended 79 — 95 — Primarily Daily 1 to 20 Days Real estate funds 117 3 109 7 Primarily Quarterly 1 to 90 Days Hedge funds 175 25 151 47 Monthly, Quarterly 5 to 95 Days Total $ 805 $ 28 $ 821 $ 54 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Net Benefit Costs [Table Text Block] | Postretirement 2015 2014 2013 Service cost $ 2 $ 2 $ 3 Interest cost 15 17 15 Amortization of prior service credit (1 ) (1 ) (1 ) Recognized net actuarial loss 14 13 15 Curtailment loss 6 — — Net periodic benefit expense $ 36 $ 31 $ 32 |
Schedule of Health Care Cost Trend Rates [Table Text Block] | Assumed health care cost trend rates at the end of the year: 2015 2014 Health care cost trend rate assumed for next year 7.75% 8.25% Rate to which the cost trend rate is assumed to decline (ultimate trend rate) 4.50% 4.50% Year that the rate reaches the ultimate trend rate 2022 2022 |
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block] | A one-percentage-point change in assumed health care costs would have the following effects on 2015 reported amounts: Increase Decrease Effect on service and interest cost $ 1 $ (1 ) Effect on the 2015 accumulated benefit obligation $ 25 $ (22 ) |
Taxes on Earnings (Tables)
Taxes on Earnings (Tables) | 12 Months Ended |
Aug. 02, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The provision for income taxes on earnings from continuing operations consists of the following: 2015 2014 2013 Income taxes: Currently payable: Federal $ 246 $ 252 $ 268 State 31 30 24 Non-U.S. 55 42 47 332 324 339 Deferred: Federal (31 ) 32 (58 ) State 2 2 (6 ) Non-U.S. (4 ) (11 ) — (33 ) 23 (64 ) $ 299 $ 347 $ 275 Earnings from continuing operations before income taxes: United States $ 850 $ 995 $ 815 Non-U.S. 140 78 140 $ 990 $ 1,073 $ 955 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The following is a reconciliation of the effective income tax rate on continuing operations to the U.S. federal statutory income tax rate: 2015 2014 2013 Federal statutory income tax rate 35.0 % 35.0 % 35.0 % State income taxes (net of federal tax benefit) 2.2 2.0 1.1 Tax effect of international items (2.4 ) (1.0 ) (2.6 ) Settlement of tax contingencies (0.7 ) — (0.1 ) Federal manufacturing deduction (2.8 ) (2.3 ) (2.7 ) Other (1.1 ) (1.4 ) (1.9 ) Effective income tax rate 30.2 % 32.3 % 28.8 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Deferred tax liabilities and assets are comprised of the following: 2015 2014 Depreciation $ 306 $ 300 Amortization 541 541 Other 16 17 Deferred tax liabilities 863 858 Benefits and compensation 298 294 Pension benefits 92 63 Tax loss carryforwards 44 49 Capital loss carryforwards 85 112 Other 101 70 Gross deferred tax assets 620 588 Deferred tax asset valuation allowance (122 ) (151 ) Net deferred tax assets 498 437 Net deferred tax liability $ 365 $ 421 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | A reconciliation of the activity related to unrecognized tax benefits follows: 2015 2014 2013 Balance at beginning of year $ 71 $ 61 $ 48 Increases related to prior-year tax positions 9 — 28 Decreases related to prior-year tax positions — (1 ) (7 ) Increases related to current-year tax positions 5 11 9 Settlements (27 ) — (15 ) Lapse of statute — — (2 ) Balance at end of year $ 58 $ 71 $ 61 |
Short-term Borrowings and Lon38
Short-term Borrowings and Long-term Debt (Tables) | 12 Months Ended |
Aug. 02, 2015 | |
Debt Disclosure [Abstract] | |
Schedule of Short-term Debt [Table Text Block] | Short-term borrowings consist of the following: 2015 2014 Commercial paper $ 1,532 $ 1,406 Current portion of long-term debt — 300 Variable-rate bank borrowings 1 47 Fixed-rate bank borrowings 9 17 Capital leases 1 1 $ 1,543 $ 1,771 |
Schedule of Long-term Debt Instruments [Table Text Block] | Long-term debt consists of the following: Type Fiscal Year of Maturity Rate 2015 2014 Notes 2015 3.38% $ — $ 300 Notes 2017 3.05% 400 400 Notes 2019 4.50% 300 300 Notes 2021 4.25% 500 500 Debentures 2021 8.88% 200 200 Notes 2023 2.50% 450 450 Notes 2025 3.30% 300 — Notes 2043 3.80% 400 400 Capital leases 10 3 Other (1) (8 ) (9 ) Total $ 2,552 $ 2,544 Less current portion — 300 Total long-term debt $ 2,552 $ 2,244 _______________________________________ (1) Other includes unamortized net premium/discount on debt issuances. |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Aug. 02, 2015 | |
General Discussion of Derivative Instruments and Hedging Activities [Abstract] | |
Schedule Of The Fair Value Of Derivative Instruments | The following table summarizes the fair value of derivative instruments on a gross basis as recorded in the Consolidated Balance Sheets as of August 2, 2015 , and August 3, 2014 : Balance Sheet Classification 2015 2014 Asset Derivatives Derivatives designated as hedges: Foreign exchange forward contracts Other current assets $ 3 $ 1 Forward starting interest rate swaps Other current assets — 11 Total derivatives designated as hedges $ 3 $ 12 Derivatives not designated as hedges: Commodity derivative contracts Other current assets $ 1 $ 2 Cross-currency swap contracts Other current assets 18 — Deferred compensation derivative contracts Other current assets 1 — Foreign exchange forward contracts Other current assets 9 1 Cross-currency swap contracts Other assets 22 — Total derivatives not designated as hedges $ 51 $ 3 Total asset derivatives $ 54 $ 15 Balance Sheet Classification 2015 2014 Liability Derivatives Derivatives designated as hedges: Foreign exchange forward contracts Accrued liabilities $ — $ 1 Forward starting interest rate swaps Other liabilities 8 — Total derivatives designated as hedges $ 8 $ 1 Derivatives not designated as hedges: Commodity derivative contracts Accrued liabilities $ 10 $ 10 Cross-currency swap contracts Accrued liabilities — 1 Deferred compensation derivative contracts Accrued liabilities — 3 Foreign exchange forward contracts Accrued liabilities 2 2 Commodity derivative contracts Other liabilities — 1 Cross-currency swap contracts Other liabilities — 5 Total derivatives not designated as hedges $ 12 $ 22 Total liability derivatives $ 20 $ 23 |
Offsetting Assets and Liabilities | We do not offset the fair values of derivative assets and liabilities executed with the same counterparty that are generally subject to enforceable netting agreements. However, if we were to offset and record the asset and liability balances of derivatives on a net basis, the amounts presented in the Consolidated Balance Sheets as of August 2, 2015 , and August 3, 2014 , would be adjusted as detailed in the following table: 2015 2014 Derivative Instrument Gross Amounts Presented in the Consolidated Balance Sheet Gross Amounts Not Offset in the Consolidated Balance Sheet Subject to Netting Agreements Net Amount Gross Amounts Presented in the Consolidated Balance Sheet Gross Amounts Not Offset in the Consolidated Balance Sheet Subject to Netting Agreements Net Amount Total asset derivatives $ 54 $ (13 ) $ 41 $ 15 $ (4 ) $ 11 Total liability derivatives $ 20 $ (13 ) $ 7 $ 23 $ (4 ) $ 19 |
Schedule Of Changes In Cash-Flow Hedges In Other Comprehensive Income (Loss) | The following tables show the effect of our derivative instruments designated as cash-flow hedges for the years ended August 2, 2015 , and August 3, 2014 , in other comprehensive income (loss) (OCI) and the Consolidated Statements of Earnings: Derivatives Designated as Cash-Flow Hedges Total Cash-Flow Hedge OCI Activity 2015 2014 OCI derivative gain (loss) at beginning of year $ (4 ) $ 8 Effective portion of changes in fair value recognized in OCI: Foreign exchange forward contracts 18 — Forward starting interest rate swaps (23 ) (12 ) Amount of (gain) loss reclassified from OCI to earnings: Location in Earnings Foreign exchange forward contracts Cost of products sold (4 ) (4 ) Foreign exchange forward contracts Other expenses / (income) (1 ) 1 Forward starting interest rate swaps Interest expense 4 3 OCI derivative gain (loss) at end of year $ (10 ) $ (4 ) |
Derivatives Designated As Fair-Value Hedges | The following table shows the effect of our derivative instruments designated as fair-value hedges in the Consolidated Statements of Earnings: Amount of Gain (Loss) Recognized in Earnings on Derivatives Amount of Gain (Loss) Recognized in Earnings on Hedged Item Derivatives Designated Location of Gain (Loss) 2015 2014 2015 2014 Interest rate swaps Interest expense $ — $ (1 ) $ — $ 1 |
Derivatives Not Designated As Hedges | The following table shows the effects of our derivative instruments not designated as hedges in the Consolidated Statements of Earnings: Amount of Gain (Loss) Recognized in Earnings on Derivatives Derivatives not Designated as Hedges Location of Gain (Loss) 2015 2014 Foreign exchange forward contracts Cost of products sold $ 2 $ 3 Foreign exchange forward contracts Other expenses / (income) (3 ) (12 ) Cross-currency swap contracts Other expenses / (income) 58 7 Commodity derivative contracts Cost of products sold (19 ) (4 ) Deferred compensation derivative contracts Administrative expenses 7 2 Total $ 45 $ (4 ) |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Aug. 02, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Assets And Liabilities Measured on Recurring Basis | The following table presents our financial assets and liabilities that are measured at fair value on a recurring basis as of August 2, 2015 , and August 3, 2014 , consistent with the fair value hierarchy: Fair Value Fair Value Measurements at Fair Value Fair Value Measurements at Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets Forward starting interest rate swaps (1) $ — $ — $ — $ — $ 11 $ — $ 11 $ — Foreign exchange forward contracts (2) 12 — 12 — 2 — 2 — Commodity derivative contracts (3) 1 1 — — 2 1 1 — Cross-currency swap contracts (4) 40 — 40 — — — — — Deferred compensation derivative contracts (5) 1 — 1 — — — — — Total assets at fair value $ 54 $ 1 $ 53 $ — $ 15 $ 1 $ 14 $ — Fair Value Fair Value Measurements at Fair Value Fair Value Measurements at Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Liabilities Forward starting interest rate swaps (1) $ 8 $ — $ 8 $ — $ — $ — $ — $ — Foreign exchange forward contracts (2) 2 — 2 — 3 — 3 — Commodity derivative contracts (3) 10 10 — — 11 11 — — Cross-currency swap contracts (4) — — — — 6 — 6 — Deferred compensation derivative contracts (5) — — — — 3 — 3 — Deferred compensation obligation (6) 120 120 — — 123 123 — — Total liabilities at fair value $ 140 $ 130 $ 10 $ — $ 146 $ 134 $ 12 $ — ___________________________________ (1) Based on LIBOR swap rates. (2) Based on observable market transactions of spot currency rates and forward rates. (3) Based on quoted futures exchanges and on observable prices of futures and options transactions in the marketplace. (4) Based on observable local benchmarks for currency and interest rates. (5) Based on LIBOR and equity index swap rates. (6) Based on the fair value of the participants’ investments. |
Fair Value, Assets Measure on Nonrecurring Basis | The following table presents our fair value measurements of intangible assets that were recognized in the year ended July 28, 2013: 2013 Intangible assets Impairment Fair Value Blå Band $ 1 $ 19 Heisse Tasse $ 4 $ 6 Isomitta $ 8 $ 4 Royco $ 23 $ 53 |
Stock-based Compensation (Table
Stock-based Compensation (Tables) | 12 Months Ended |
Aug. 02, 2015 | |
Stock-based Compensation | |
Schedule Of Stock Option Activity | The following table summarizes stock option activity as of August 2, 2015 : Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life Aggregate Intrinsic Value (Options in thousands) (In years) Outstanding at August 3, 2014 408 $ 28.33 Granted — $ — Exercised (331 ) $ 27.98 Terminated (3 ) $ 26.36 Outstanding at August 2, 2015 74 $ 29.91 0.4 $ 1 Exercisable at August 2, 2015 74 $ 29.91 0.4 $ 1 |
Time-Lapse Restricted Stock Units, EPS Performance Restricted Stock Units And Strategic Performance Restricted Stock Units | The following table summarizes time-lapse restricted stock units, EPS performance restricted stock units, strategic performance restricted stock units and special performance restricted stock units as of August 2, 2015 : Units Weighted- Average Grant-Date Fair Value (Restricted stock units in thousands) Nonvested at August 3, 2014 2,994 $ 37.69 Granted 1,183 $ 43.00 Vested (1,303 ) $ 35.89 Forfeited (464 ) $ 37.00 Nonvested at August 2, 2015 2,410 $ 41.40 |
TSR Performance Restricted Stock/Units [Member] | |
Stock-based Compensation | |
TSR Performance Restricted Stock Units | The following table summarizes TSR performance restricted stock units as of August 2, 2015 : Units Weighted- Average Grant-Date Fair Value (Restricted stock units in thousands) Nonvested at August 3, 2014 861 $ 38.15 Granted 874 $ 43.39 Vested — $ — Forfeited (156 ) $ 41.23 Nonvested at August 2, 2015 1,579 $ 40.75 |
TSR Performance Restricted Stock Units, Assumptions | We estimated the fair value of TSR performance restricted stock units at the grant date using a Monte Carlo simulation. Assumptions used in the Monte Carlo simulation were as follows: 2015 2014 2013 Risk-free interest rate 0.97% 0.60% 0.30% Expected dividend yield 2.91% 2.98% 3.26% Expected volatility 16.20% 15.76% 15.07% Expected term 3 years 3 years 3 years |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Aug. 02, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Future minimum annual rental payments under these operating leases as of August 3, 2014, are as follows: 2016 2017 2018 2019 2020 Thereafter $38 $26 $22 $17 $15 $21 |
Supplemental Financial Statem43
Supplemental Financial Statement Data (Tables) | 12 Months Ended |
Aug. 02, 2015 | |
Supplemental Financial Statement Data [Abstract] | |
Schedule Of Balance Sheets Supplemental Disclosures [Table Text Block] | 2015 2014 Accounts receivable Customer accounts receivable $ 570 $ 597 Allowances (13 ) (12 ) Subtotal $ 557 $ 585 Other 90 85 $ 647 $ 670 Inventories Raw materials, containers and supplies $ 427 $ 399 Finished products 566 617 $ 993 $ 1,016 Other current assets Deferred taxes $ 115 $ 96 Fair value of derivatives 32 15 Other 52 71 $ 199 $ 182 Plant assets Land $ 57 $ 62 Buildings 1,416 1,384 Machinery and equipment 3,802 3,856 Projects in progress 238 217 Total cost $ 5,513 $ 5,519 Accumulated depreciation (1) (3,166 ) (3,201 ) $ 2,347 $ 2,318 Other assets Fair value of derivatives $ 22 $ — Deferred taxes 25 32 Other 54 55 $ 101 $ 87 2015 2014 Accrued liabilities Accrued compensation and benefits $ 255 $ 237 Fair value of derivatives 12 17 Accrued trade and consumer promotion programs 125 122 Accrued interest 35 37 Restructuring 54 31 Other 108 109 $ 589 $ 553 Other liabilities Pension benefits $ 233 $ 170 Deferred compensation (2) 104 109 Postretirement benefits 362 359 Fair value of derivatives 8 6 Unrecognized tax benefits 26 23 Restructuring 49 — Other 68 62 $ 850 $ 729 ____________________________________ (1) Depreciation expense was $286 in 2015, $287 in 2014 and $393 in 2013. These amounts included $1 in 2013 related to discontinued operations. Buildings are depreciated over periods ranging from 7 to 45 years. Machinery and equipment are depreciated over periods generally ranging from 2 to 20 years. (2) The deferred compensation obligation represents unfunded plans maintained for the purpose of providing our directors and certain of our executives the opportunity to defer a portion of their compensation. All forms of compensation contributed to the deferred compensation plans are accounted for in accordance with the underlying program. Deferrals and our contributions are credited to an investment account in the participant's name, although no funds are actually contributed to the investment account and no investments are actually purchased. Seven investment choices are available, including: (1) a book account that tracks the total return on our stock; (2) a book account that tracks the performance of the Vanguard Institutional Index; (3) a book account that tracks the performance of the Vanguard Extended Market Index; (4) a book account that tracks the performance of the Vanguard Total International Stock Index; (5) a book account that tracks the performance of the Vanguard Total Bond Market Index; (6) a book account that tracks the performance of the Vanguard Short-Term Bond Index; and (7) a book account that tracks the BlackRock Liquidity TempFund. Participants can reallocate investments daily and are entitled to the gains and losses on investment funds. We recognize an amount in the Consolidated Statements of Earnings for the market appreciation/depreciation of each fund. |
Schedule Of Statements Of Earnings Supplemental Disclosures [Table Text Block] | 2015 2014 2013 Other Expenses/(Income) Foreign exchange (gains)/losses (1) $ — $ 6 $ 3 Amortization of intangible assets 17 18 14 Impairment of intangible assets (2) 6 — — Acquisition related costs — — 10 Other 1 (2 ) 2 $ 24 $ 22 $ 29 Advertising and consumer promotion expense (3) $ 385 $ 411 $ 419 Interest expense Interest expense $ 111 $ 124 $ 138 Less: Interest capitalized 3 2 3 $ 108 $ 122 $ 135 ____________________________________ (1) 2014 included a loss of $9 on foreign exchange forward contracts used to hedge the proceeds from the sale of the European simple meals business. (2) In 2015, we recognized a $6 impairment charge related to minor trademarks. See also Note 6. (3) Included in Marketing and selling expenses. |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | 2015 2014 2013 Cash Flows from Operating Activities Other non-cash charges to net earnings Non-cash compensation/benefit related expense $ 78 $ 114 $ 134 Other 16 4 21 $ 94 $ 118 $ 155 Other Benefit related payments $ (53 ) $ (52 ) $ (54 ) Other 1 (1 ) (4 ) $ (52 ) $ (53 ) $ (58 ) Other Cash Flow Information Interest paid $ 111 $ 122 $ 124 Interest received $ 3 $ 3 $ 10 Income taxes paid $ 333 $ 421 $ 345 |
Quarterly Data (Tables)
Quarterly Data (Tables) | 12 Months Ended |
Aug. 02, 2015 | |
Quarterly Financial Data [Abstract] | |
Schedule of Quarterly Financial Information [Table Text Block] | 2015 First Second Third Fourth Net sales $ 2,255 $ 2,234 $ 1,900 $ 1,693 Gross profit 783 728 682 612 Net earnings attributable to Campbell Soup Company 234 207 182 68 Per share - basic Net earnings attributable to Campbell Soup Company .75 .66 .59 .22 Dividends .312 .312 .312 .312 Per share - assuming dilution Net earnings attributable to Campbell Soup Company .74 .66 .58 .22 Market price High $ 45.12 $ 47.45 $ 48.31 $ 49.54 Low $ 41.15 $ 42.70 $ 44.45 $ 44.92 2015 First Second Third Fourth In 2015, the following charges were recorded in Net earnings attributable to Campbell Soup Company: Restructuring charges and implementation costs (see Note 8) $ — $ — $ 11 $ 67 Per share - assuming dilution Restructuring charges and implementation costs — — .04 .21 2014 First Second Third Fourth Net sales $ 2,165 $ 2,281 $ 1,970 $ 1,852 Gross profit 777 814 676 631 Earnings from continuing operations attributable to Campbell Soup Company 181 235 184 137 Earnings (loss) from discontinued operations (9 ) 90 — — Net earnings attributable to Campbell Soup Company 172 325 184 137 Per share - basic Earnings from continuing operations attributable to Campbell Soup Company .58 .75 .59 .44 Earnings (loss) from discontinued operations (.03 ) .29 — — Net earnings attributable to Campbell Soup Company (1) .55 1.04 .59 .44 Dividends .312 .312 .312 .312 Per share - assuming dilution Earnings from continuing operations attributable to Campbell Soup Company .57 .74 .58 .43 Earnings (loss) from discontinued operations (.03 ) .28 — — Net earnings attributable to Campbell Soup Company (1) .54 1.03 .58 .43 Market price High $ 48.08 $ 43.70 $ 45.48 $ 46.67 Low $ 39.87 $ 38.30 $ 39.60 $ 41.39 ____________________________________ (1) The sum of the individual per share amounts may not add due to rounding. 2014 First Second Third Fourth In 2014, the following charges were recorded in Earnings from continuing operations: Restructuring charges and related costs (see Note 8) $ 15 $ 5 $ 1 $ 15 Pension settlement charges (see Note 11) — — 11 3 Loss on foreign exchange forward contracts related to the sale of the European simple meals business (see Note 19) 6 — — — Tax expense associated with the sale of the European simple meals business 7 — — — Per share - assuming dilution Restructuring charges and related costs .05 .02 — .05 Pension settlement charges — — .03 .01 Loss on foreign exchange forward contracts related to the sale of the European simple meals business .02 — — — Tax expense associated with the sale of the European simple meals business .02 — — — In 2014, the following charges (gains) were recorded in Earnings (loss) from discontinuing operations: Taxes, costs associated with the sale, and gain on sale of the European simple meals business (see Note 4) $ 18 $ (90 ) — — Per share - assuming dilution Taxes, costs associated with the sale, and gain on sale of the European simple meals business (see Note 4) .06 (.28 ) — — |
Valuation and Qualifying Acco45
Valuation and Qualifying Accounts (Tables) | 12 Months Ended |
Aug. 02, 2015 | |
Valuation and Qualifying Accounts [Abstract] | |
Summary of Valuation Allowance [Table Text Block] | For the Fiscal Years ended August 2, 2015, August 3, 2014 and July 28, 2013 (Millions) Balance at Beginning of Period Charged to/ (Reduction in) Costs and Expenses Deductions Acquisitions Balance at End of Period Fiscal year ended August 2, 2015 Cash discount $ 4 $ 116 $ (115 ) $ — $ 5 Bad debt reserve 3 2 (1 ) — 4 Returns reserve (1) 5 — (1 ) — 4 Total Accounts receivable allowances $ 12 $ 118 $ (117 ) $ — $ 13 Fiscal year ended August 3, 2014 Cash discount $ 5 $ 114 $ (115 ) $ — $ 4 Bad debt reserve 2 — (1 ) 2 3 Returns reserve (1) 4 1 — — 5 Total Accounts receivable allowances $ 11 $ 115 $ (116 ) $ 2 $ 12 Fiscal year ended July 28, 2013 Cash discount $ 4 $ 114 $ (113 ) $ — $ 5 Bad debt reserve 2 1 (1 ) — 2 Returns reserve (1) 4 1 (1 ) — 4 Total Accounts receivable allowances $ 10 $ 116 $ (115 ) $ — $ 11 _______________________________________ (1) The returns reserve is evaluated quarterly and adjusted accordingly. During each period, returns are charged to net sales in the Consolidated Statements of Earnings as incurred. Actual returns were approximately $105 in 2015, $118 in 201 and $124 in 2013, or less than 2% of net sales. |
Basis of Presentation and Sig46
Basis of Presentation and Significant Accounting Policies Basis of Presentation and Significant Accounting Polices (Details) | 12 Months Ended | ||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Fiscal Period Number Of Weeks | 52 | 53 | 52 |
Building [Member] | Maximum [Member] | |||
Property, Plant and Equipment, Useful Life | 45 years | ||
Machinery and Equipment [Member] | Maximum [Member] | |||
Property, Plant and Equipment, Useful Life | 20 years |
Acquistions (Narrative) (Detail
Acquistions (Narrative) (Details) $ in Millions | Jun. 29, 2015USD ($) | Aug. 08, 2013USD ($) | Jun. 13, 2013USD ($) | Aug. 06, 2012USD ($) | Oct. 27, 2013USD ($) | Oct. 28, 2012USD ($) | Aug. 02, 2015USD ($) | Aug. 03, 2014USD ($) | Jul. 28, 2013USD ($) |
Business Acquisition [Line Items] | |||||||||
Business Combination, Acquisition Related Costs | $ 10 | $ 0 | $ 0 | $ 10 | |||||
Business Combination, Acquisition Related After Tax Costs | $ 7 | ||||||||
Goodwill | 2,344 | 2,433 | 2,297 | ||||||
Garden Fresh Gourmet [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Payments to Acquire Businesses, Gross | $ 232 | ||||||||
Goodwill | 116 | ||||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 10 | ||||||||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | $ (1) | ||||||||
Garden Fresh Gourmet [Member] | Customer Relationships [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 48 | ||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 20 years | ||||||||
Garden Fresh Gourmet [Member] | Trademarks [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets | $ 38 | ||||||||
Kelsen [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Payments to Acquire Businesses, Gross | $ 331 | ||||||||
Number of Countries in which Entity Operates | 85 | ||||||||
Goodwill | $ 140 | ||||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 193 | ||||||||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | 8 | ||||||||
Kelsen [Member] | Trademarks [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 4 | ||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years | ||||||||
Kelsen [Member] | Customer Relationships [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 22 | ||||||||
Kelsen [Member] | Customer Relationships [Member] | Minimum [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years | ||||||||
Kelsen [Member] | Customer Relationships [Member] | Maximum [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 15 years | ||||||||
Kelsen [Member] | Trademarks [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets | $ 147 | ||||||||
Plum [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Payments to Acquire Businesses, Gross | $ 249 | ||||||||
Goodwill | 128 | ||||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 88 | 14 | |||||||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | (19) | (2) | |||||||
Inventory recall expense, after tax | $ (11) | $ (11) | |||||||
Plum [Member] | Customer Relationships [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 18 | ||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 15 years | ||||||||
Plum [Member] | Trademarks [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets | $ 115 | ||||||||
Bolthouse Farms [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Payments to Acquire Businesses, Gross | $ 1,550 | ||||||||
Business Combination, Initial Purchase Price Adjustment | 20 | ||||||||
Business Combination, Purchase Price Adjustment | 11 | ||||||||
Goodwill | 692 | ||||||||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | 284 | ||||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 756 | ||||||||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | $ 18 | ||||||||
Bolthouse Farms [Member] | Customer Relationships [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 132 | ||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 20 years | ||||||||
Bolthouse Farms [Member] | Trademarks [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets | $ 383 |
Acquistions Schedule of Purchas
Acquistions Schedule of Purchase Price Allocation (Details) - USD ($) $ in Millions | Aug. 02, 2015 | Jun. 29, 2015 | Aug. 03, 2014 | Aug. 08, 2013 | Jul. 28, 2013 | Jun. 13, 2013 | Aug. 06, 2012 |
Business Acquisition [Line Items] | |||||||
Goodwill | $ 2,344 | $ 2,433 | $ 2,297 | ||||
Garden Fresh Gourmet [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Cash and cash equivalents | $ 0 | ||||||
Accounts receivable, net | 10 | ||||||
Inventories | 5 | ||||||
Other current assets | 0 | ||||||
Plant assets | 22 | ||||||
Goodwill | 116 | ||||||
Other intangible assets | 86 | ||||||
Business Acquisition, Purchase Price Allocation, Other Noncurrent Assets (Deprecated 2013-01-31) | 0 | ||||||
Short-term borrowings | 0 | ||||||
Payable to suppliers and others | (6) | ||||||
Accrued liabilities | (1) | ||||||
Long-term debt | 0 | ||||||
Deferred taxes | 0 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities | 0 | ||||||
Total assets acquired and liabilities assumed | $ 232 | ||||||
Kelsen [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Cash and cash equivalents | $ 2 | ||||||
Accounts receivable, net | 20 | ||||||
Inventories | 50 | ||||||
Other current assets | 2 | ||||||
Plant assets | 47 | ||||||
Goodwill | 140 | ||||||
Other intangible assets | 173 | ||||||
Business Acquisition, Purchase Price Allocation, Other Noncurrent Assets (Deprecated 2013-01-31) | 0 | ||||||
Short-term borrowings | (32) | ||||||
Payable to suppliers and others | (13) | ||||||
Accrued liabilities | (10) | ||||||
Long-term debt | (4) | ||||||
Deferred taxes | (44) | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities | 0 | ||||||
Total assets acquired and liabilities assumed | $ 331 | ||||||
Plum [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Cash and cash equivalents | $ 1 | ||||||
Accounts receivable, net | 15 | ||||||
Inventories | 20 | ||||||
Other current assets | 1 | ||||||
Plant assets | 2 | ||||||
Goodwill | 128 | ||||||
Other intangible assets | 133 | ||||||
Business Acquisition, Purchase Price Allocation, Other Noncurrent Assets (Deprecated 2013-01-31) | 0 | ||||||
Short-term borrowings | 0 | ||||||
Payable to suppliers and others | (12) | ||||||
Accrued liabilities | (5) | ||||||
Long-term debt | 0 | ||||||
Deferred taxes | (34) | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities | 0 | ||||||
Total assets acquired and liabilities assumed | $ 249 | ||||||
Bolthouse Farms [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Cash and cash equivalents | $ 3 | ||||||
Accounts receivable, net | 74 | ||||||
Inventories | 122 | ||||||
Other current assets | 8 | ||||||
Plant assets | 335 | ||||||
Goodwill | 692 | ||||||
Other intangible assets | 580 | ||||||
Business Acquisition, Purchase Price Allocation, Other Noncurrent Assets (Deprecated 2013-01-31) | 8 | ||||||
Short-term borrowings | (1) | ||||||
Payable to suppliers and others | (59) | ||||||
Accrued liabilities | (29) | ||||||
Long-term debt | (1) | ||||||
Deferred taxes | (156) | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities | (15) | ||||||
Total assets acquired and liabilities assumed | $ 1,561 |
Acquistions Acquistion Schedule
Acquistions Acquistion Schedule of Intangible Assets Acquired As Part of Business Combination (Details) - Bolthouse Farms [Member] $ in Millions | Aug. 06, 2012USD ($) |
Intangible Assets Other Than Goodwill [Line Items] | |
Other intangible assets | $ 580 |
Customer Relationships [Member] | |
Intangible Assets Other Than Goodwill [Line Items] | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 132 |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 20 years |
Distribution Rights [Member] | |
Intangible Assets Other Than Goodwill [Line Items] | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 2 |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 7 years |
Patented Technology [Member] | |
Intangible Assets Other Than Goodwill [Line Items] | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 43 |
Patented Technology [Member] | Minimum [Member] | |
Intangible Assets Other Than Goodwill [Line Items] | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 9 years |
Patented Technology [Member] | Maximum [Member] | |
Intangible Assets Other Than Goodwill [Line Items] | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 17 years |
Trade Secrets [Member] | |
Intangible Assets Other Than Goodwill [Line Items] | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 20 |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 5 years |
Trademarks [Member] | |
Intangible Assets Other Than Goodwill [Line Items] | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets | $ 383 |
Acquistions Pro forma Informati
Acquistions Pro forma Information (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Business Acquisition, Pro Forma Information [Abstract] | |||
Business Acquisition, Pro Forma Revenue | $ 8,174 | $ 8,372 | $ 8,327 |
Business Acquisition, Pro Forma Net Income (Loss) | $ 693 | $ 741 | $ 684 |
Business Acquisition, Pro Forma Earnings Per Share, Diluted | $ 2.21 | $ 2.34 | $ 2.16 |
Discontinued Operations (Narrat
Discontinued Operations (Narrative) (Details) - Discontinued Operations [Member] $ / shares in Units, € in Millions, $ in Millions | Oct. 29, 2013USD ($) | Oct. 29, 2013EUR (€) | Aug. 03, 2014USD ($)$ / shares | Apr. 27, 2014USD ($)$ / shares | Jan. 26, 2014USD ($)$ / shares | Oct. 27, 2013USD ($)$ / shares | Aug. 03, 2014USD ($)$ / shares | Jul. 28, 2013USD ($)$ / shares |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Proceeds from Divestiture of Businesses | $ 548 | € 400 | $ (14) | |||||
Gain on sale of business | 141 | $ 0 | ||||||
Gain on sale of business, net of tax | $ 0 | $ 0 | $ (90) | $ 18 | $ 72 | |||
Gain on sale of business, per diluted share | $ / shares | $ 0 | $ 0 | $ (0.28) | $ 0.06 | $ 0.23 | |||
Impairment of Long-Lived Assets to be Disposed of | $ 0 | 396 | ||||||
Impairment Of Goodwill And Indefinite Lived Intangible Assets, Net Of Tax | $ 263 | |||||||
Impairment Of Goodwill And Indefinite Lived Intangible Assets, Per Share Diluted | $ / shares | $ (0.83) | |||||||
Discontinued Operation, Tax Effect of Discontinued Operation, Difference Between Book Value and Tax Basis Resulting From Reorganization | $ (18) | |||||||
Deferred Other Tax (Expense) Benefit, Per Share Diluted | $ / shares | $ (0.06) |
Discontinued Operations (Detail
Discontinued Operations (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||
Aug. 03, 2014 | Apr. 27, 2014 | Jan. 26, 2014 | Oct. 27, 2013 | Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Earnings (loss) from discontinued operations | $ 0 | $ 0 | $ 90 | $ (9) | $ 0 | $ 81 | $ (231) |
Discontinued Operations [Member] | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||
Net sales | 137 | 532 | |||||
Gain on sale of business | 141 | 0 | |||||
Impairment of long-lived assets to be disposed of | 0 | (396) | |||||
Earnings from discontinued operations, before tax | 14 | 65 | |||||
Earnings before taxes | 155 | (331) | |||||
Taxes on earnings | (74) | 100 | |||||
Earnings (loss) from discontinued operations | $ 81 | $ (231) |
Accumulated Other Comprehensi53
Accumulated Other Comprehensive Income (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Equity [Abstract] | |||
Reclassification of currency translation adjustments realized upon disposal of business, before tax | $ 0 | $ (22) | $ 0 |
Reclassification of currency translation adjustments realized upon disposal of business, after-tax | $ 0 | $ (19) | $ 0 |
Accumulated Other Comprehensi54
Accumulated Other Comprehensive Income (Components Of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||||
Aug. 03, 2014 | Apr. 27, 2014 | Jan. 26, 2014 | Oct. 27, 2013 | Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | ||
Beginning Balance | $ (569) | |||||||
Other comprehensive income (loss), after tax | (341) | $ (3) | $ 210 | |||||
Ending Balance | $ (569) | (909) | (569) | |||||
Accumulated Other Comprehensive Income Foreign Currency Translation Tax (Benefit) Expense | 7 | 6 | 7 | 9 | ||||
Accumulated Other Comprehensive Income Cashflow Hedges Tax (Benefit) Expense | (1) | (5) | (1) | 3 | ||||
Accumulated Other Comprehensive Income Unamortized Pension And Post Retirement Tax (Benefit) Expense | (405) | (417) | (405) | (424) | ||||
Defined Benefit Plan Recognized Net Gain Loss Due to Settlements Net Of Tax | (3) | $ (11) | $ 0 | $ 0 | ||||
Pension Plan, Defined Benefit [Member] | ||||||||
Defined Benefit Plan, Recognized Net Gain Loss Due to Settlements | 0 | 22 | 0 | |||||
Defined Benefit Plan Recognized Net Gain Loss Due to Settlements Net Of Tax | 14 | |||||||
Accumulated Translation Adjustment [Member] | ||||||||
Beginning Balance | [1] | 170 | 137 | 170 | ||||
Other Comprehensive Income (Loss) Before Reclassifications Net Of Tax | (322) | (14) | ||||||
Other Comprehensive Income Reclassifications Current Period Net of Tax | 0 | (19) | ||||||
Other comprehensive income (loss), after tax | (322) | (33) | ||||||
Ending Balance | [1] | 137 | (185) | 137 | 170 | |||
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | ||||||||
Beginning Balance | [2] | 5 | (3) | 5 | ||||
Other Comprehensive Income (Loss) Before Reclassifications Net Of Tax | (2) | (8) | ||||||
Other Comprehensive Income Reclassifications Current Period Net of Tax | 0 | 0 | ||||||
Other comprehensive income (loss), after tax | (2) | (8) | ||||||
Ending Balance | [2] | (3) | (5) | (3) | 5 | |||
Accumulated Defined Benefit Plans Adjustment [Member] | ||||||||
Beginning Balance | [3] | (740) | (703) | (740) | ||||
Other Comprehensive Income (Loss) Before Reclassifications Net Of Tax | (77) | (35) | ||||||
Other Comprehensive Income Reclassifications Current Period Net of Tax | 61 | 72 | ||||||
Other comprehensive income (loss), after tax | (16) | 37 | ||||||
Ending Balance | [3] | (703) | (719) | (703) | (740) | |||
Accumulated Other Comprehensive Income (Loss) [Member] | ||||||||
Beginning Balance | $ (565) | (569) | (565) | |||||
Other Comprehensive Income (Loss) Before Reclassifications Net Of Tax | (401) | (57) | ||||||
Other Comprehensive Income Reclassifications Current Period Net of Tax | 61 | 53 | ||||||
Other comprehensive income (loss), after tax | (340) | (4) | 211 | |||||
Ending Balance | $ (569) | $ (909) | (569) | $ (565) | ||||
Corporate, Non-Segment [Member] | Pension Plan, Defined Benefit [Member] | ||||||||
Defined Benefit Plan, Recognized Net Gain Loss Due to Settlements | $ 22 | |||||||
[1] | Included a tax expense of $6 as of August 2, 2015, $7 as of August 3, 2014, and $9 as of July 28, 2013. The amount reclassified from other comprehensive income was related to the divestiture of the European simple meals business and was included in Earnings (loss) from discontinued operations. | |||||||
[2] | Included a tax benefit of $5 as of August 2, 2015, $1 as of August 3, 2014, and a tax expense of $3 as of July 28, 2013. | |||||||
[3] | Included a tax benefit of $417 as of August 2, 2015, $405 as of August 3, 2014, and $424 as of July 28, 2013. The amount reclassified in 2014 from other comprehensive income included pre-tax settlement charges of $22, or $14 after tax. |
Accumulated Other Comprehensi55
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss) (Schecule of amounts reclassified from AOCI) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | ||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax [Abstract] | ||||
Reclassification adjustment for (gains) losses included in net earnings, before tax | $ (1) | $ 0 | $ 4 | |
Reclassification adjustment for (gains) losses included in net earnings, tax expense (benefit) | 1 | 0 | (1) | |
Reclassification adjustment for (gains) losses included in net earnings, after-tax | 0 | 0 | 3 | |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax, [Abstract] | ||||
Reclassification of prior service credit included in net earnings, before tax | [1] | (2) | (2) | (2) |
Reclassification of net actuarial loss included in net earnings before tax | [1] | 98 | 113 | 124 |
Total Pension and Other Postretirement Benefit amortization included in net earnings, before Tax | 96 | 111 | 122 | |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax [Abstract] | ||||
Total Pension and Other Postretirement Benefit amortization included in net earnings, tax expense (benefit) | (35) | (39) | (54) | |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax [Abstract] | ||||
Total Pension and Other Postretirement Benefit amortization included in net earnings, net of tax | 61 | 72 | 68 | |
Foreign Exchange Contract [Member] | Cost Of Products Sold [Member] | ||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax [Abstract] | ||||
Reclassification adjustment for (gains) losses included in net earnings, before tax | (4) | (4) | 1 | |
Foreign Exchange Contract [Member] | Other Expenses/Income [Member] | ||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax [Abstract] | ||||
Reclassification adjustment for (gains) losses included in net earnings, before tax | (1) | 1 | (1) | |
Interest Rate Contract [Member] | Interest Expense [Member] | ||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax [Abstract] | ||||
Reclassification adjustment for (gains) losses included in net earnings, before tax | 4 | $ 3 | $ 4 | |
Discontinued Operations [Member] | ||||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax, [Abstract] | ||||
Reclassification of net actuarial loss included in net earnings before tax | [1] | $ 2 | ||
[1] | In 2014, net actuarial losses of $2 were recognized in Earnings (loss) from discontinued operations as a result of the sale of the European simple meals business. Excluding the net actuarial losses related to the sale of the business in 2014, these items are included in the components of net periodic benefit costs (see Note 11 for additional details). |
Goodwill And Intangible Asset56
Goodwill And Intangible Assets (Narrative) (Details) - USD ($) $ in Millions | Jun. 29, 2015 | Aug. 08, 2013 | Aug. 02, 2015 | Jul. 28, 2013 | Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 |
Finite-Lived Intangible Assets [Line Items] | |||||||
Goodwill, Acquired During Period | $ 116 | $ 140 | |||||
Goodwill | $ 2,344 | $ 2,297 | 2,344 | 2,433 | $ 2,297 | ||
Amortization of Intangible Assets | 17 | 18 | 14 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 20 | 20 | |||||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 20 | 20 | |||||
Finite Lived Intangible Assets, Amortization Expense, Year Three | 15 | 15 | |||||
Finite Lived Intangible Assets, Amortization Expense, Year Four | 15 | 15 | |||||
Finite Lived Intangible Assets, Amortization Expense, Year Five | 15 | 15 | |||||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $ 6 | ||||||
Minimum [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-Lived Intangible Asset, Useful Life | 5 years | ||||||
Maximum [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-Lived Intangible Asset, Useful Life | 20 years | ||||||
Global Baking And Snacking [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Goodwill, Acquired During Period | $ 0 | 140 | |||||
Goodwill | 732 | 775 | 732 | 918 | 775 | ||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | 6 | ||||||
International Simple Meals And Beverages [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Goodwill, Acquired During Period | 0 | 0 | |||||
Goodwill | $ 96 | 122 | $ 96 | $ 115 | 122 | ||
Garden Fresh Gourmet [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Payments to Acquire Businesses, Gross | $ 232 | ||||||
Goodwill, Acquired During Period | 116 | ||||||
Goodwill | $ 116 | ||||||
Kelsen [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Payments to Acquire Businesses, Gross | $ 331 | ||||||
Goodwill, Acquired During Period | 140 | ||||||
Goodwill | $ 140 | ||||||
Discontinued Operations [Member] | International Simple Meals And Beverages [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Goodwill, Impairment Loss | 360 | ||||||
Goodwill | 110 | $ 110 | |||||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $ 36 |
Goodwill And Intangible Asset57
Goodwill And Intangible Assets (Goodwill) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Aug. 02, 2015 | Aug. 03, 2014 | |
Goodwill [Line Items] | ||
Beginning Balance | $ 2,433 | $ 2,297 |
Goodwill, Acquired During Period | 116 | 140 |
Foreign currency translation adjustment | (205) | (4) |
Ending Balance | 2,344 | 2,433 |
U.S. Simple Meals [Member] | ||
Goodwill [Line Items] | ||
Beginning Balance | 450 | 450 |
Goodwill, Acquired During Period | 0 | 0 |
Foreign currency translation adjustment | 0 | 0 |
Ending Balance | 450 | 450 |
Global Baking And Snacking [Member] | ||
Goodwill [Line Items] | ||
Beginning Balance | 918 | 775 |
Goodwill, Acquired During Period | 0 | 140 |
Foreign currency translation adjustment | (186) | 3 |
Ending Balance | 732 | 918 |
International Simple Meals And Beverages [Member] | ||
Goodwill [Line Items] | ||
Beginning Balance | 115 | 122 |
Goodwill, Acquired During Period | 0 | 0 |
Foreign currency translation adjustment | (19) | (7) |
Ending Balance | 96 | 115 |
U.S. Beverages [Member] | ||
Goodwill [Line Items] | ||
Beginning Balance | 112 | 112 |
Goodwill, Acquired During Period | 0 | 0 |
Foreign currency translation adjustment | 0 | 0 |
Ending Balance | 112 | 112 |
Bolthouse and Foodservice [Member] | ||
Goodwill [Line Items] | ||
Beginning Balance | 838 | 838 |
Goodwill, Acquired During Period | 116 | 0 |
Foreign currency translation adjustment | 0 | 0 |
Ending Balance | $ 954 | $ 838 |
Goodwill And Intangible Asset58
Goodwill And Intangible Assets (Intangible Assets) (Details) - USD ($) $ in Millions | Aug. 02, 2015 | Aug. 03, 2014 |
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | $ 297 | $ 253 |
Finite-Lived Intangible Assets, Accumulated Amortization | (52) | (35) |
Finite-Lived Intangible Assets, Net | 245 | 218 |
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 960 | 957 |
Total net intangible assets | 1,205 | 1,175 |
Customer Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 222 | 178 |
Developed Technology Rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 40 | 40 |
Other Intangible Assets [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | $ 35 | $ 35 |
Business And Geographic Segme59
Business And Geographic Segment Information (Narrative) (Details) | 12 Months Ended | ||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Segment Reporting Information [Line Items] | |||
Number of operating segments | 11 | ||
Sales Revenue, Net [Member] | Wal-Mart Stores, Inc. [Member] | |||
Segment Reporting Information [Line Items] | |||
Segment Reporting, Disclosure of Major Customers | 20.00% | 19.00% | 19.00% |
Business And Geographic Segme60
Business And Geographic Segment Information (Schedule Of Segment Reporting - Net Sales) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Aug. 02, 2015 | May. 03, 2015 | Feb. 01, 2015 | Nov. 02, 2014 | Aug. 03, 2014 | Apr. 27, 2014 | Jan. 26, 2014 | Oct. 27, 2013 | Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Segment Reporting Information [Line Items] | |||||||||||
Net sales | $ 1,693 | $ 1,900 | $ 2,234 | $ 2,255 | $ 1,852 | $ 1,970 | $ 2,281 | $ 2,165 | $ 8,082 | $ 8,268 | $ 8,052 |
U.S. Simple Meals [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales | 2,930 | 2,944 | 2,849 | ||||||||
Global Baking And Snacking [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales | 2,375 | 2,440 | 2,273 | ||||||||
International Simple Meals And Beverages [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales | 700 | 780 | 869 | ||||||||
U.S. Beverages [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales | 689 | 723 | 742 | ||||||||
Bolthouse and Foodservice [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales | $ 1,388 | $ 1,381 | $ 1,319 |
Business And Geographic Segme61
Business And Geographic Segment Information (Schedule Of Segment Reporting - Earnings Before Interest And Taxes) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||
Aug. 03, 2014 | Apr. 27, 2014 | Jan. 26, 2014 | Oct. 27, 2013 | Oct. 28, 2012 | Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | ||
Segment Reporting Information [Line Items] | |||||||||
Earnings before interest and taxes | $ 1,095 | $ 1,192 | $ 1,080 | ||||||
Derivatives (Gain) Loss | $ 0 | $ 0 | $ 0 | $ 6 | |||||
Business Combination, Acquisition Related Costs | $ 10 | 0 | 0 | 10 | |||||
Pension Plan, Defined Benefit [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Defined Benefit Plan, Recognized Net Gain Loss Due to Settlements | 0 | 22 | 0 | ||||||
2015 Initiatives [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Restructuring and Related Cost, Incurred Cost | 124 | ||||||||
2015 Initiatives [Member] | Other Cost Savings Implementation Costs [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Restructuring and Related Cost, Incurred Cost | [1] | 22 | |||||||
2015 Initiatives [Member] | Other Restructuring [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Restructuring and Related Cost, Incurred Cost | 8 | ||||||||
2013 Initiatives [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Restructuring and Related Cost, Incurred Cost | 0 | 4 | 142 | ||||||
2013 Initiatives [Member] | Other Restructuring [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Restructuring and Related Cost, Incurred Cost | [2] | 0 | 4 | 8 | |||||
U.S. Simple Meals [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Earnings before interest and taxes | 677 | 714 | 731 | ||||||
Global Baking And Snacking [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Earnings before interest and taxes | 350 | 332 | 316 | ||||||
International Simple Meals And Beverages [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Earnings before interest and taxes | 80 | 106 | 108 | ||||||
U.S. Beverages [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Earnings before interest and taxes | 113 | 127 | 120 | ||||||
Bolthouse and Foodservice [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Earnings before interest and taxes | 107 | 117 | 116 | ||||||
Corporate, Non-Segment [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Earnings before interest and taxes | [3] | (130) | (149) | (260) | |||||
Corporate, Non-Segment [Member] | Bolthouse Farms [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Business Combination, Acquisition Related Costs | 10 | ||||||||
Corporate, Non-Segment [Member] | Foreign Exchange Contract [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Derivatives (Gain) Loss | 9 | ||||||||
Corporate, Non-Segment [Member] | Pension Plan, Defined Benefit [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Defined Benefit Plan, Recognized Net Gain Loss Due to Settlements | 22 | ||||||||
Corporate, Non-Segment [Member] | Other Cost Savings Implementation Costs [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Restructuring and Related Cost, Incurred Cost | 22 | ||||||||
Corporate, Non-Segment [Member] | 2013 Initiatives [Member] | Other Restructuring [Member] | Cost Of Products Sold [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Restructuring and Related Cost, Incurred Cost | 3 | 91 | |||||||
Restructuring Charges [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Earnings before interest and taxes | [4] | $ (102) | $ (55) | $ (51) | |||||
[1] | Includes other costs recognized as incurred that are not reflected in the restructuring reserve in the Consolidated Balance Sheet. The costs are included in Administrative expenses in the Consolidated Statements of Earnings. | ||||||||
[2] | Includes non-cash costs and other exit costs recognized as incurred that are not reflected in the restructuring reserve in the Consolidated Balance Sheet. | ||||||||
[3] | Represents unallocated corporate expenses. Costs of $22 related to the implementation of our new organizational structure and cost reduction initiatives were included in 2015. Pension settlement charges of $22 associated with a U.S. pension plan were included in 2014. The settlements resulted from the level of lump sum distributions from the plan's assets in 2014, primarily due to the closure of the facility in Sacramento, California. In addition, a loss of $9 on foreign exchange forward contracts related to the sale of the European simple meals business and restructuring-related costs of $3 were included in 2014. Restructuring-related costs of $91 and acquisition costs of $10 were included in 2013. | ||||||||
[4] | See Note 8 for additional information. |
Business And Geographic Segme62
Business And Geographic Segment Information Business And Geographic Segment Inormation (Schedule of Segment Reporting - Depreciation and Amortization)(Details) - USD ($) $ in Millions | 12 Months Ended | |||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | ||
Segment Reporting Information [Line Items] | ||||
Depreciation and amortization | $ 303 | $ 305 | $ 407 | |
U.S. Simple Meals [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Depreciation and amortization | 80 | 77 | 146 | |
Global Baking And Snacking [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Depreciation and amortization | 87 | 93 | 83 | |
International Simple Meals And Beverages [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Depreciation and amortization | 18 | 19 | 23 | |
U.S. Beverages [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Depreciation and amortization | 22 | 21 | 39 | |
Bolthouse and Foodservice [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Depreciation and amortization | 80 | 80 | 90 | |
Corporate, Non-Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Depreciation and amortization | [1] | 16 | 15 | 15 |
Discontinued Operations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Depreciation and amortization | $ 0 | $ 0 | $ 11 | |
[1] | Represents primarily corporate offices. |
Business And Geographic Segme63
Business And Geographic Segment Information Business And Geographic Segment Information (Schedule of Segment Reporting - Capital Expenditures) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | ||
Segment Reporting Information [Line Items] | ||||
Payments to Acquire Property, Plant, and Equipment | $ 380 | $ 347 | $ 336 | |
U.S. Simple Meals And U.S. Beverages [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Payments to Acquire Property, Plant, and Equipment | [1] | 118 | 115 | 82 |
Global Baking And Snacking [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Payments to Acquire Property, Plant, and Equipment | 128 | 120 | 112 | |
International Simple Meals And Beverages [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Payments to Acquire Property, Plant, and Equipment | 28 | 26 | 19 | |
Bolthouse and Foodservice [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Payments to Acquire Property, Plant, and Equipment | 82 | 57 | 83 | |
Corporate, Non-Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Payments to Acquire Property, Plant, and Equipment | [2] | 24 | 28 | 30 |
Discontinued Operations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Payments to Acquire Property, Plant, and Equipment | $ 0 | $ 1 | $ 10 | |
[1] | Capital expenditures for U.S. Simple Meals and U.S. Beverages are not maintained by segment. | |||
[2] | Represents primarily corporate offices. |
Business And Geographic Segme64
Business And Geographic Segment Information (Additional Product Information For Net Sales) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Aug. 02, 2015 | May. 03, 2015 | Feb. 01, 2015 | Nov. 02, 2014 | Aug. 03, 2014 | Apr. 27, 2014 | Jan. 26, 2014 | Oct. 27, 2013 | Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Segment Reporting Information [Line Items] | |||||||||||
Net sales | $ 1,693 | $ 1,900 | $ 2,234 | $ 2,255 | $ 1,852 | $ 1,970 | $ 2,281 | $ 2,165 | $ 8,082 | $ 8,268 | $ 8,052 |
Simple Meals [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales | 4,446 | 4,511 | 4,446 | ||||||||
Baked Snacks [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales | 2,502 | 2,571 | 2,408 | ||||||||
Beverages [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales | $ 1,134 | $ 1,186 | $ 1,198 |
Business And Geographic Segme65
Business And Geographic Segment Information Business And Geographic Segment Information Business And Geographic Segment Information (Geographic Information, Net Sales) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Aug. 02, 2015 | May. 03, 2015 | Feb. 01, 2015 | Nov. 02, 2014 | Aug. 03, 2014 | Apr. 27, 2014 | Jan. 26, 2014 | Oct. 27, 2013 | Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Segment Reporting Information [Line Items] | |||||||||||
Net sales | $ 1,693 | $ 1,900 | $ 2,234 | $ 2,255 | $ 1,852 | $ 1,970 | $ 2,281 | $ 2,165 | $ 8,082 | $ 8,268 | $ 8,052 |
UNITED STATES | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales | 6,400 | 6,432 | 6,195 | ||||||||
AUSTRALIA | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales | 646 | 709 | 801 | ||||||||
Other Countries [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales | $ 1,036 | $ 1,127 | $ 1,056 |
Business And Geographic Segme66
Business And Geographic Segment Information Business And Geographic Segment Information Business And Geographic Segment Information (Geographic Information, Long-lived Assets) (Details) - USD ($) $ in Millions | Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 |
Segment Reporting Information [Line Items] | |||
Plant assets, net of depreciation | $ 2,347 | $ 2,318 | $ 2,260 |
UNITED STATES | |||
Segment Reporting Information [Line Items] | |||
Plant assets, net of depreciation | 1,942 | 1,844 | 1,804 |
AUSTRALIA | |||
Segment Reporting Information [Line Items] | |||
Plant assets, net of depreciation | 232 | 306 | 317 |
Other Countries [Member] | |||
Segment Reporting Information [Line Items] | |||
Plant assets, net of depreciation | $ 173 | $ 168 | $ 139 |
Restructuring Charges (Narrativ
Restructuring Charges (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||
Aug. 02, 2015 | May. 03, 2015 | Feb. 01, 2015 | Nov. 02, 2014 | Aug. 03, 2014 | Apr. 27, 2014 | Jan. 26, 2014 | Oct. 27, 2013 | Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | ||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring charges | $ 102 | $ 55 | $ 51 | |||||||||
Restructuring charges, after tax | $ 67 | $ 11 | $ 0 | $ 0 | $ 15 | $ 1 | $ 5 | $ 15 | ||||
Restructuring charges, Per Diluted Share | $ 0.21 | $ 0.04 | $ 0 | $ 0 | $ 0.05 | $ 0 | $ 0.02 | $ 0.05 | ||||
Corporate, Non-Segment [Member] | Other Cost Savings Implementation Costs [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Incurred Cost | $ 22 | |||||||||||
2015 Initiatives [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Expected Number of Positions Eliminated | 230 | |||||||||||
Restructuring charges | $ 102 | |||||||||||
Restructuring charges and related costs, after tax | $ 78 | |||||||||||
Restructuring charges, Per Diluted Share | $ 0.25 | |||||||||||
Restructuring and Related Cost, Incurred Cost | $ 124 | |||||||||||
2015 Initiatives [Member] | Other Cost Savings Implementation Costs [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Incurred Cost | [1] | 22 | ||||||||||
2015 Initiatives [Member] | Severance Pay And Benefits [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Incurred Cost | 87 | |||||||||||
2015 Initiatives [Member] | Other Restructuring [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Incurred Cost | $ 8 | |||||||||||
2015 Initiatives [Member] | UNITED STATES | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Expected Number of Positions Eliminated | 471 | |||||||||||
2015 Initiatives [Member] | U.S. Simple Meals [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Expected Allocation | 21.00% | |||||||||||
2015 Initiatives [Member] | Global Baking And Snacking [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Expected Allocation | 28.00% | |||||||||||
2015 Initiatives [Member] | International Simple Meals And Beverages [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Expected Allocation | 6.00% | |||||||||||
2015 Initiatives [Member] | U.S. Beverages [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Expected Allocation | 5.00% | |||||||||||
2015 Initiatives [Member] | Bolthouse and Foodservice [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Expected Allocation | 5.00% | |||||||||||
2015 Initiatives [Member] | Corporate, Non-Segment [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Expected Allocation | 35.00% | |||||||||||
2014 Initiatives [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Expected Number of Positions Eliminated | 85 | |||||||||||
Restructuring charges | 54 | |||||||||||
Restructuring charges, after tax | $ 33 | |||||||||||
Restructuring charges, Per Diluted Share | $ 0.10 | |||||||||||
Restructuring and Related Cost, Incurred Cost | $ 0 | $ 54 | ||||||||||
2014 Initiatives [Member] | Severance Pay And Benefits [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Incurred Cost | 0 | 41 | ||||||||||
2014 Initiatives [Member] | Other Restructuring [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Incurred Cost | [2] | $ 0 | 1 | |||||||||
2014 Initiatives [Member] | AUSTRALIA | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Expected Number of Positions Eliminated | 90 | |||||||||||
2014 Initiatives [Member] | North America and Asia Pacific [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Positions eliminated | 250 | |||||||||||
2014 Initiatives [Member] | CHINA | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Positions eliminated | 100 | |||||||||||
2013 Initiatives [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring charges | 1 | 51 | ||||||||||
Restructuring charges and related costs, after tax | $ 3 | $ 90 | ||||||||||
Restructuring charges, Per Diluted Share | $ 0.01 | $ 0.28 | ||||||||||
Restructuring and Related Cost, Incurred Cost | $ 0 | $ 4 | $ 142 | |||||||||
2013 Initiatives [Member] | Severance Pay And Benefits [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Incurred Cost | 0 | 0 | 32 | |||||||||
2013 Initiatives [Member] | Other Restructuring [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Incurred Cost | [3] | $ 0 | 4 | 8 | ||||||||
2013 Initiatives [Member] | SOUTH CAROLINA | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Positions eliminated | 110 | |||||||||||
2013 Initiatives [Member] | Sacramento, CA [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Positions eliminated | 700 | |||||||||||
2013 Initiatives [Member] | South Plainfield, NJ [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Positions eliminated | 27 | |||||||||||
2013 Initiatives [Member] | MEXICO | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Positions eliminated | 260 | |||||||||||
2013 Initiatives [Member] | UNITED STATES | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Positions eliminated | 70 | |||||||||||
General and Administrative Expense [Member] | 2015 Initiatives [Member] | Other Cost Savings Implementation Costs [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Incurred Cost | $ 22 | |||||||||||
Cost Of Products Sold [Member] | 2013 Initiatives [Member] | Corporate, Non-Segment [Member] | Other Restructuring [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Incurred Cost | $ 3 | $ 91 | ||||||||||
Minimum [Member] | 2015 Initiatives [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Expected Cost | $ 250 | 250 | ||||||||||
Minimum [Member] | 2015 Initiatives [Member] | Severance Pay And Benefits [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Expected Cost | 150 | 150 | ||||||||||
Minimum [Member] | 2015 Initiatives [Member] | Implementation and Other Costs [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Expected Cost | 100 | 100 | ||||||||||
Maximum [Member] | 2015 Initiatives [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Expected Cost | 325 | 325 | ||||||||||
Maximum [Member] | 2015 Initiatives [Member] | Severance Pay And Benefits [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Expected Cost | 163 | 163 | ||||||||||
Maximum [Member] | 2015 Initiatives [Member] | Implementation and Other Costs [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring and Related Cost, Expected Cost | $ 162 | $ 162 | ||||||||||
[1] | Includes other costs recognized as incurred that are not reflected in the restructuring reserve in the Consolidated Balance Sheet. The costs are included in Administrative expenses in the Consolidated Statements of Earnings. | |||||||||||
[2] | Includes non-cash costs that are not reflected in the restructuring reserve in the Consolidated Balance Sheet. | |||||||||||
[3] | Includes non-cash costs and other exit costs recognized as incurred that are not reflected in the restructuring reserve in the Consolidated Balance Sheet. |
Restructuring Charges (Schedule
Restructuring Charges (Schedule Of Pre-Tax Charges) (Details) $ in Millions | Aug. 02, 2015USD ($) |
2015 Initiatives [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | $ 124 |
2015 Initiatives [Member] | Severance Pay And Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 94 |
2015 Initiatives [Member] | Implementation and Other Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 30 |
2014 Initiatives [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 54 |
2014 Initiatives [Member] | Severance Pay And Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 41 |
2014 Initiatives [Member] | Asset Impairment Accelerated Depreciation [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 12 |
2014 Initiatives [Member] | Other Restructuring [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 1 |
2013 Initiatives [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 146 |
2013 Initiatives [Member] | Severance Pay And Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 35 |
2013 Initiatives [Member] | Asset Impairment Accelerated Depreciation [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 99 |
2013 Initiatives [Member] | Other Restructuring [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | $ 12 |
Restructuring Charges (Schedu69
Restructuring Charges (Schedule Of Restructuring Activity And Related Reserves) (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |||
Restructuring Reserve [Roll Forward] | |||||
Restructuring Reserve, Noncurrent | $ 49 | $ 0 | |||
2015 Initiatives [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Restructuring and Related Cost, Incurred Cost | 124 | ||||
2015 Initiatives [Member] | Severance Pay And Benefits [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Accrued Balance at beginning of period | 0 | ||||
Restructuring and Related Cost, Incurred Cost | 87 | ||||
Cash Payments | (1) | ||||
Restructuring Reserve, Translation Adjustment | (1) | ||||
Accrued Balance at end of period | 85 | [1] | 0 | ||
Restructuring Reserve, Noncurrent | 45 | ||||
2015 Initiatives [Member] | Other Restructuring [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Accrued Balance at beginning of period | 0 | ||||
Restructuring and Related Cost, Incurred Cost | 8 | ||||
Cash Payments | 0 | ||||
Restructuring Reserve, Translation Adjustment | 0 | ||||
Accrued Balance at end of period | 8 | 0 | |||
2015 Initiatives [Member] | Employee Severance and Other Restructuring [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Accrued Balance at beginning of period | 0 | ||||
Restructuring and Related Cost, Incurred Cost | 95 | ||||
Cash Payments | (1) | ||||
Restructuring Reserve, Translation Adjustment | (1) | ||||
Accrued Balance at end of period | 93 | 0 | |||
2015 Initiatives [Member] | Other Non-cash Benefit Costs [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Restructuring and Related Cost, Incurred Cost | [2] | 7 | |||
2015 Initiatives [Member] | Other Cost Savings Implementation Costs [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Restructuring and Related Cost, Incurred Cost | [3] | 22 | |||
2014 Initiatives [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Restructuring and Related Cost, Incurred Cost | 0 | 54 | |||
2014 Initiatives [Member] | Severance Pay And Benefits [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Accrued Balance at beginning of period | 28 | 0 | |||
Restructuring and Related Cost, Incurred Cost | 0 | 41 | |||
Cash Payments | (16) | (13) | |||
Restructuring Reserve, Translation Adjustment | (2) | 0 | |||
Accrued Balance at end of period | 10 | [4] | 28 | $ 0 | |
Restructuring Reserve, Noncurrent | 4 | ||||
2014 Initiatives [Member] | Asset Impairment Accelerated Depreciation [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Restructuring and Related Cost, Incurred Cost | 0 | 12 | |||
2014 Initiatives [Member] | Other Restructuring [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Restructuring and Related Cost, Incurred Cost | [5] | 0 | 1 | ||
2013 Initiatives [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Restructuring and Related Cost, Incurred Cost | 0 | 4 | 142 | ||
2013 Initiatives [Member] | Severance Pay And Benefits [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Accrued Balance at beginning of period | 3 | 17 | 0 | ||
Restructuring and Related Cost, Incurred Cost | 0 | 0 | 32 | ||
Cash Payments | (3) | (14) | (15) | ||
Accrued Balance at end of period | 0 | 3 | 17 | ||
2013 Initiatives [Member] | Asset Impairment Accelerated Depreciation [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Restructuring and Related Cost, Incurred Cost | 0 | 0 | 99 | ||
2013 Initiatives [Member] | Other Restructuring [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Restructuring and Related Cost, Incurred Cost | [6] | 0 | 4 | 8 | |
2013 Initiatives [Member] | Other Non-cash Benefit Costs [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Restructuring and Related Cost, Incurred Cost | [7] | $ 0 | $ 0 | $ 3 | |
[1] | Includes $45 of severance pay and benefits recorded in Other liabilities in the Consolidated Balance Sheet. | ||||
[2] | Represents postretirement and pension curtailment costs. See Note 11. | ||||
[3] | Includes other costs recognized as incurred that are not reflected in the restructuring reserve in the Consolidated Balance Sheet. The costs are included in Administrative expenses in the Consolidated Statements of Earnings. | ||||
[4] | Includes $4 of severance pay and benefits recorded in Other liabilities in the Consolidated Balance Sheet. | ||||
[5] | Includes non-cash costs that are not reflected in the restructuring reserve in the Consolidated Balance Sheet. | ||||
[6] | Includes non-cash costs and other exit costs recognized as incurred that are not reflected in the restructuring reserve in the Consolidated Balance Sheet. | ||||
[7] | Represents pension curtailment costs. See Note 11. |
Restructuring Charges (Schedu70
Restructuring Charges (Schedule Of Restructuring Charges Associated With Each Reportable Segment) (Details) $ in Millions | Aug. 02, 2015USD ($) |
2015 Initiatives [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | $ 124 |
2015 Initiatives [Member] | Severance Pay And Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 94 |
2015 Initiatives [Member] | Implementation and Other Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 30 |
2015 Initiatives [Member] | U.S. Simple Meals [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 38 |
2015 Initiatives [Member] | U.S. Simple Meals [Member] | Severance Pay And Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 33 |
2015 Initiatives [Member] | U.S. Simple Meals [Member] | Implementation and Other Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 5 |
2015 Initiatives [Member] | Global Baking And Snacking [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 43 |
2015 Initiatives [Member] | Global Baking And Snacking [Member] | Severance Pay And Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 41 |
2015 Initiatives [Member] | Global Baking And Snacking [Member] | Implementation and Other Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 2 |
2015 Initiatives [Member] | International Simple Meals And Beverages [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 5 |
2015 Initiatives [Member] | International Simple Meals And Beverages [Member] | Severance Pay And Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 5 |
2015 Initiatives [Member] | International Simple Meals And Beverages [Member] | Implementation and Other Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 0 |
2015 Initiatives [Member] | U.S. Beverages [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 9 |
2015 Initiatives [Member] | U.S. Beverages [Member] | Severance Pay And Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 8 |
2015 Initiatives [Member] | U.S. Beverages [Member] | Implementation and Other Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 1 |
2015 Initiatives [Member] | Bolthouse and Foodservice [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 4 |
2015 Initiatives [Member] | Bolthouse and Foodservice [Member] | Severance Pay And Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 4 |
2015 Initiatives [Member] | Bolthouse and Foodservice [Member] | Implementation and Other Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 0 |
2015 Initiatives [Member] | Corporate, Non-Segment [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 25 |
2015 Initiatives [Member] | Corporate, Non-Segment [Member] | Severance Pay And Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 3 |
2015 Initiatives [Member] | Corporate, Non-Segment [Member] | Implementation and Other Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 22 |
2014 Initiatives [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 54 |
2014 Initiatives [Member] | Severance Pay And Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 41 |
2014 Initiatives [Member] | Asset Impairment Accelerated Depreciation [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 12 |
2014 Initiatives [Member] | Other Exit Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 1 |
2014 Initiatives [Member] | U.S. Simple Meals [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 8 |
2014 Initiatives [Member] | U.S. Simple Meals [Member] | Severance Pay And Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 7 |
2014 Initiatives [Member] | U.S. Simple Meals [Member] | Asset Impairment Accelerated Depreciation [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 1 |
2014 Initiatives [Member] | U.S. Simple Meals [Member] | Other Exit Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 0 |
2014 Initiatives [Member] | Global Baking And Snacking [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 23 |
2014 Initiatives [Member] | Global Baking And Snacking [Member] | Severance Pay And Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 23 |
2014 Initiatives [Member] | Global Baking And Snacking [Member] | Asset Impairment Accelerated Depreciation [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 0 |
2014 Initiatives [Member] | Global Baking And Snacking [Member] | Other Exit Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 0 |
2014 Initiatives [Member] | International Simple Meals And Beverages [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 18 |
2014 Initiatives [Member] | International Simple Meals And Beverages [Member] | Severance Pay And Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 6 |
2014 Initiatives [Member] | International Simple Meals And Beverages [Member] | Asset Impairment Accelerated Depreciation [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 11 |
2014 Initiatives [Member] | International Simple Meals And Beverages [Member] | Other Exit Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 1 |
2014 Initiatives [Member] | U.S. Beverages [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 2 |
2014 Initiatives [Member] | U.S. Beverages [Member] | Severance Pay And Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 2 |
2014 Initiatives [Member] | U.S. Beverages [Member] | Asset Impairment Accelerated Depreciation [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 0 |
2014 Initiatives [Member] | U.S. Beverages [Member] | Other Exit Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 0 |
2014 Initiatives [Member] | Bolthouse and Foodservice [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 2 |
2014 Initiatives [Member] | Bolthouse and Foodservice [Member] | Severance Pay And Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 2 |
2014 Initiatives [Member] | Bolthouse and Foodservice [Member] | Asset Impairment Accelerated Depreciation [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 0 |
2014 Initiatives [Member] | Bolthouse and Foodservice [Member] | Other Exit Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 0 |
2014 Initiatives [Member] | Corporate, Non-Segment [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 1 |
2014 Initiatives [Member] | Corporate, Non-Segment [Member] | Severance Pay And Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 1 |
2014 Initiatives [Member] | Corporate, Non-Segment [Member] | Asset Impairment Accelerated Depreciation [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 0 |
2014 Initiatives [Member] | Corporate, Non-Segment [Member] | Other Exit Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 0 |
2013 Initiatives [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 146 |
2013 Initiatives [Member] | Severance Pay And Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 35 |
2013 Initiatives [Member] | Asset Impairment Accelerated Depreciation [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 99 |
2013 Initiatives [Member] | Other Exit Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 12 |
2013 Initiatives [Member] | U.S. Simple Meals [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 90 |
2013 Initiatives [Member] | U.S. Simple Meals [Member] | Severance Pay And Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 19 |
2013 Initiatives [Member] | U.S. Simple Meals [Member] | Asset Impairment Accelerated Depreciation [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 64 |
2013 Initiatives [Member] | U.S. Simple Meals [Member] | Other Exit Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 7 |
2013 Initiatives [Member] | Global Baking And Snacking [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 14 |
2013 Initiatives [Member] | Global Baking And Snacking [Member] | Severance Pay And Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 2 |
2013 Initiatives [Member] | Global Baking And Snacking [Member] | Asset Impairment Accelerated Depreciation [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 10 |
2013 Initiatives [Member] | Global Baking And Snacking [Member] | Other Exit Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 2 |
2013 Initiatives [Member] | International Simple Meals And Beverages [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 9 |
2013 Initiatives [Member] | International Simple Meals And Beverages [Member] | Severance Pay And Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 5 |
2013 Initiatives [Member] | International Simple Meals And Beverages [Member] | Asset Impairment Accelerated Depreciation [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 3 |
2013 Initiatives [Member] | International Simple Meals And Beverages [Member] | Other Exit Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 1 |
2013 Initiatives [Member] | U.S. Beverages [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 31 |
2013 Initiatives [Member] | U.S. Beverages [Member] | Severance Pay And Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 7 |
2013 Initiatives [Member] | U.S. Beverages [Member] | Asset Impairment Accelerated Depreciation [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 22 |
2013 Initiatives [Member] | U.S. Beverages [Member] | Other Exit Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 2 |
2013 Initiatives [Member] | Bolthouse and Foodservice [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 2 |
2013 Initiatives [Member] | Bolthouse and Foodservice [Member] | Severance Pay And Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 2 |
2013 Initiatives [Member] | Bolthouse and Foodservice [Member] | Asset Impairment Accelerated Depreciation [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | 0 |
2013 Initiatives [Member] | Bolthouse and Foodservice [Member] | Other Exit Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Cost Incurred to Date | $ 0 |
Earnings Per Share (Narrative)
Earnings Per Share (Narrative) (Details) - shares | 12 Months Ended | ||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Stock options not included in the diluted earnings per share calculation as they were antidilutive | 0 | 0 | 0 |
Noncontrolling Interests (Detai
Noncontrolling Interests (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Aug. 02, 2015 | May. 03, 2015 | Feb. 01, 2015 | Nov. 02, 2014 | Aug. 03, 2014 | Apr. 27, 2014 | Jan. 26, 2014 | Oct. 27, 2013 | Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Noncontrolling Interest [Line Items] | |||||||||||
Payments to Acquire Interest in Joint Venture | $ 14 | $ 7 | $ 5 | ||||||||
Contribution from noncontrolling interest | 9 | 5 | 3 | ||||||||
Restructuring charges, after tax | $ 67 | $ 11 | $ 0 | $ 0 | $ 15 | $ 1 | $ 5 | $ 15 | |||
2014 Initiatives [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Restructuring charges, after tax | 33 | ||||||||||
Noncontrolling Interests [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Contribution from noncontrolling interest | $ 9 | 5 | $ 3 | ||||||||
Noncontrolling Interests [Member] | 2014 Initiatives [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Restructuring charges, after tax | $ 5 | ||||||||||
China [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Controlling interest in a company | 60.00% | 60.00% | |||||||||
Malaysia [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Controlling interest in a company | 70.00% | 70.00% |
Pension And Postretirement Be73
Pension And Postretirement Benefits (Narrative) (Details) - USD ($) $ in Millions | Jul. 01, 2011 | Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Reclassification of net actuarial loss included in net earnings before tax | [1] | $ 98 | $ 113 | $ 124 | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 60.00% | ||||
Defined Contribution Plan, Cost Recognized | $ 31 | 29 | 27 | ||
Employees Not Covered By Collective Bargaining Agreements [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 100.00% | ||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 4.00% | ||||
Employees Not Eligible To Participate In Defined Benefit Plans And Who Are Not Covered By Collective Bargaining Agreements [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 3.00% | ||||
At certain locations [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 50.00% | ||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 5.00% | ||||
Discontinued Operations [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Reclassification of net actuarial loss included in net earnings before tax | [1] | $ 2 | |||
Pension Plan, Defined Benefit [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Curtailments | (1) | 0 | (3) | ||
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements | 0 | (22) | 0 | ||
Defined Benefit Plan, Net Periodic Benefit Cost | 44 | 78 | $ 98 | ||
Defined Benefit Plan, Future Amortization of Prior Service Cost (Credit) | (1) | ||||
Defined Benefit Plan, Future Amortization of Gain (Loss) | (90) | ||||
Reclassification of net actuarial loss included in net earnings before tax | 84 | 100 | |||
Defined Benefit Plan, Accumulated Benefit Obligation | $ 2,516 | $ 2,477 | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 4.33% | 4.82% | 4.05% | ||
Pension Plan, Defined Benefit [Member] | Discontinued Operations [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Defined Benefit Plan, Net Periodic Benefit Cost | $ 1 | ||||
Reclassification of net actuarial loss included in net earnings before tax | $ 2 | ||||
Pension Plan, Defined Benefit [Member] | Corporate, Non-Segment [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements | (22) | ||||
Other Postretirement Benefit Plan, Defined Benefit [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Curtailments | $ (6) | 0 | 0 | ||
Defined Benefit Plan, Net Periodic Benefit Cost | 36 | 31 | $ 32 | ||
Defined Benefit Plan, Future Amortization of Prior Service Cost (Credit) | (1) | ||||
Defined Benefit Plan, Future Amortization of Gain (Loss) | (13) | ||||
Reclassification of net actuarial loss included in net earnings before tax | $ 14 | $ 13 | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 4.00% | 4.50% | 3.75% | ||
U.S. Pension Plan, Defined Benefit [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Defined Benefit Plans, Estimated Future Employer Contributions in Next Fiscal Year | $ 0 | ||||
Non-U.S. Pension Plan, Defined Benefit [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Defined Benefit Plans, Estimated Future Employer Contributions in Next Fiscal Year | $ 5 | ||||
[1] | In 2014, net actuarial losses of $2 were recognized in Earnings (loss) from discontinued operations as a result of the sale of the European simple meals business. Excluding the net actuarial losses related to the sale of the business in 2014, these items are included in the components of net periodic benefit costs (see Note 11 for additional details). |
Pension And Postretirement Be74
Pension And Postretirement Benefits (Schedule Of Components of Benefit Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Pension Plan, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Service Cost | $ 28 | $ 42 | $ 57 |
Defined Benefit Plan, Interest Cost | 105 | 115 | 108 |
Expected return on plan assets | (173) | (176) | (177) |
Amortization of Prior Service Cost (Credit) | (1) | (1) | (1) |
Recognized net actuarial loss | 84 | 76 | 108 |
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Curtailments | 1 | 0 | 3 |
Defined Benefit Plan, Recognized Net Gain Loss Due to Settlements | 0 | 22 | 0 |
Defined Benefit Plan, Net Periodic Benefit Cost | 44 | 78 | 98 |
Pension Plan, Defined Benefit [Member] | Corporate, Non-Segment [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Recognized Net Gain Loss Due to Settlements | 22 | ||
Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Service Cost | 2 | 2 | 3 |
Defined Benefit Plan, Interest Cost | 15 | 17 | 15 |
Amortization of Prior Service Cost (Credit) | (1) | (1) | (1) |
Recognized net actuarial loss | 14 | 13 | 15 |
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Curtailments | 6 | 0 | 0 |
Defined Benefit Plan, Net Periodic Benefit Cost | $ 36 | $ 31 | $ 32 |
Pension And Postretirement Be75
Pension And Postretirement Benefits (Schedule of Change in Benefit Obligation) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Pension Plan, Defined Benefit [Member] | |||
Defined Benefit Plan, Benefit Obligation | $ 2,539 | $ 2,489 | |
Defined Benefit Plan, Service Cost | 28 | 42 | $ 57 |
Defined Benefit Plan, Interest Cost | 105 | 115 | 108 |
Defined Benefit Plan, Actuarial Gain (Loss) | 107 | 154 | |
Defined Benefit Plan, Contributions by Plan Participants | 0 | 0 | |
Defined Benefit Plan, Benefits Paid | (151) | (191) | |
Defined Benefit Plan, Gross Prescription Drug Subsidy Receipts Received | 0 | 0 | |
Defined Benefit Plan, Other Changes | (1) | (4) | |
Defined Benefit Plan, Settlements, Benefit Obligation | 0 | (43) | |
Defined Benefit Plan, Curtailments | 1 | 0 | |
Defined Benefit Plan, Foreign Currency Exchange Rate Gain (Loss) | (59) | (12) | |
Defined Benefit Plan, Divestitures, Benefit Obligation | 0 | (11) | |
Defined Benefit Plan, Benefit Obligation | 2,569 | 2,539 | 2,489 |
Other Postretirement Benefit Plan, Defined Benefit [Member] | |||
Defined Benefit Plan, Benefit Obligation | 388 | 390 | |
Defined Benefit Plan, Service Cost | 2 | 2 | 3 |
Defined Benefit Plan, Interest Cost | 15 | 17 | 15 |
Defined Benefit Plan, Actuarial Gain (Loss) | 7 | 5 | |
Defined Benefit Plan, Contributions by Plan Participants | 3 | 6 | |
Defined Benefit Plan, Benefits Paid | (33) | (35) | |
Defined Benefit Plan, Gross Prescription Drug Subsidy Receipts Received | 4 | 3 | |
Defined Benefit Plan, Other Changes | 0 | 0 | |
Defined Benefit Plan, Settlements, Benefit Obligation | 0 | 0 | |
Defined Benefit Plan, Curtailments | 6 | 0 | |
Defined Benefit Plan, Foreign Currency Exchange Rate Gain (Loss) | 0 | 0 | |
Defined Benefit Plan, Divestitures, Benefit Obligation | 0 | 0 | |
Defined Benefit Plan, Benefit Obligation | $ 392 | $ 388 | $ 390 |
Pension And Postretirement Be76
Pension And Postretirement Benefits (Schedule of Change In Fair Value Of Pension Assets) (Details) - Pension Plan, Defined Benefit [Member] - USD ($) $ in Millions | 12 Months Ended | |
Aug. 02, 2015 | Aug. 03, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Plan Assets | $ 2,364 | $ 2,275 |
Defined Benefit Plan, Actual Return on Plan Assets | 143 | 276 |
Defined Benefit Plan, Contributions by Employer | 5 | 46 |
Defined Benefit Plan, Benefits Paid, from Plan Assets | (141) | (179) |
Defined Benefit Plan, Settlements, Plan Assets | 0 | (43) |
Defined Benefit Plan, Foreign Currency Exchange Rate Changes, Plan Assets | (55) | (11) |
Defined Benefit Plan, Fair Value of Plan Assets | $ 2,316 | $ 2,364 |
Pension And Postretirement Be77
Pension And Postretirement Benefits (Amounts Recognized in Consolidated Balance Sheets) (Details) - USD ($) $ in Millions | Aug. 02, 2015 | Aug. 03, 2014 |
Pension Plan, Defined Benefit [Member] | ||
Defined Benefit Plan, Assets for Plan Benefits, Noncurrent | $ 0 | $ 7 |
Pension and Other Postretirement Defined Benefit Plans, Current Liabilities | (20) | (12) |
Pension and Other Postretirement Defined Benefit Plans, Liabilities, Noncurrent | (233) | (170) |
Defined Benefit Plan, Amounts Recognized in Balance Sheet | (253) | (175) |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), before Tax | 1,051 | 1,019 |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Prior Service Cost (Credit), before Tax | (1) | (2) |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax | 1,050 | 1,017 |
Other Postretirement Benefit Plan, Defined Benefit [Member] | ||
Defined Benefit Plan, Assets for Plan Benefits, Noncurrent | 0 | 0 |
Pension and Other Postretirement Defined Benefit Plans, Current Liabilities | (30) | (29) |
Pension and Other Postretirement Defined Benefit Plans, Liabilities, Noncurrent | (362) | (359) |
Defined Benefit Plan, Amounts Recognized in Balance Sheet | (392) | (388) |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), before Tax | 90 | 96 |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Prior Service Cost (Credit), before Tax | (4) | (5) |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax | $ 86 | $ 91 |
Pension And Postretirement Be78
Pension And Postretirement Benefits (Schedule Of Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets) (Details) - Pension Plan, Defined Benefit [Member] - USD ($) $ in Millions | Aug. 02, 2015 | Aug. 03, 2014 |
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Projected Benefit Obligation | $ 1,926 | $ 269 |
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Accumulated Benefit Obligation | 1,906 | 257 |
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Fair Value of Plan Assets | $ 1,684 | $ 92 |
Pension And Postretirement Be79
Pension And Postretirement Benefits (Weighted-average Assumptions To Determine Benefit Obligations) (Details) | Aug. 02, 2015 | Aug. 03, 2014 |
Pension Plan, Defined Benefit [Member] | ||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.19% | 4.33% |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase | 3.29% | 3.30% |
Other Postretirement Benefit Plan, Defined Benefit [Member] | ||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.00% | 4.00% |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase | 3.25% | 3.25% |
Pension And Postretirement Be80
Pension And Postretirement Benefits (Weighted-Average Assumptions To Determine Net Periodic Benefit Costs) (Details) - Pension Plan, Defined Benefit [Member] | 12 Months Ended | ||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 4.33% | 4.82% | 4.05% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 7.62% | 7.62% | 7.65% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 3.30% | 3.30% | 3.31% |
Pension And Postretirement Be81
Pension And Postretirement Benefits (Schedule Of Assumed Health Care Cost Trend Rates) (Details) - Other Postretirement Benefit Plan, Defined Benefit [Member] | 12 Months Ended | |
Aug. 02, 2015 | Aug. 03, 2014 | |
Defined Benefit Plan, Health Care Cost Trend Rate Assumed for Next Fiscal Year | 7.75% | 8.25% |
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 4.50% | 4.50% |
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | 2,022 | 2,022 |
Pension And Postretirement Be82
Pension And Postretirement Benefits (Schedule Of Effect Of One-Percentage-Point Change In Assumed Health Care Costs) (Details) - Other Postretirement Benefit Plan, Defined Benefit [Member] $ in Millions | 12 Months Ended |
Aug. 02, 2015USD ($) | |
Defined Benefit Plan, Effect of One Percentage Point Increase on Service and Interest Cost Components | $ 1 |
Defined Benefit Plan, Effect of One Percentage Point Decrease on Service and Interest Cost Components | (1) |
Defined Benefit Plan, Effect of One Percentage Point Increase on Accumulated Postretirement Benefit Obligation | 25 |
Defined Benefit Plan, Effect of One Percentage Point Decrease on Accumulated Postretirement Benefit Obligation | $ (22) |
Pension And Postretirement Be83
Pension And Postretirement Benefits (Schedule of Pension Plan Weighted-Average Asset Allocation By Cateogry) (Details) - Pension Plan, Defined Benefit [Member] | 12 Months Ended | |
Aug. 02, 2015 | Aug. 03, 2014 | |
Defined Benefit Plan, Target Plan Asset Allocations | 100.00% | |
Defined Benefit Plan, Actual Plan Asset Allocations | 100.00% | 100.00% |
Equity Securities [Member] | ||
Defined Benefit Plan, Target Plan Asset Allocations | 51.00% | |
Defined Benefit Plan, Actual Plan Asset Allocations | 50.00% | 51.00% |
Debt Securities [Member] | ||
Defined Benefit Plan, Target Plan Asset Allocations | 35.00% | |
Defined Benefit Plan, Actual Plan Asset Allocations | 34.00% | 33.00% |
Real Estate [Member] | ||
Defined Benefit Plan, Target Plan Asset Allocations | 14.00% | |
Defined Benefit Plan, Actual Plan Asset Allocations | 16.00% | 16.00% |
Pension And Postretirement Be84
Pension And Postretirement Benefits (Schedule Of Pension Plan Assets By Category) (Details) - Pension Plan, Defined Benefit [Member] - USD ($) $ in Millions | Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 |
Defined Benefit Plan, Fair Value of Plan Assets | $ 2,316 | $ 2,364 | $ 2,275 |
Alternative Investments, Fair Value Disclosure | 805 | 821 | |
Sub-Total [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 1,533 | 1,561 | |
Fair Value, Inputs, Level 1 [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 738 | 738 | |
Fair Value, Inputs, Level 2 [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 750 | 790 | |
Fair Value, Inputs, Level 3 [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 45 | 33 | $ 25 |
Other Items To Reconcile To Fair Value Of Plan Assets [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | (22) | (18) | |
Hedge Funds [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 39 | 30 | |
Alternative Investments, Fair Value Disclosure | 175 | 151 | |
Hedge Funds [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 39 | 30 | |
Real Estate [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 14 | 8 | |
Real Estate [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 8 | 5 | |
Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 6 | 3 | |
Municipal Bonds [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 68 | 84 | |
Municipal Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 68 | 84 | |
Short-term Investments [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 32 | 23 | |
Alternative Investments, Fair Value Disclosure | 28 | 37 | |
Short-term Investments [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 32 | 23 | |
Equity Funds [Member] | |||
Alternative Investments, Fair Value Disclosure | 375 | 393 | |
Fixed Income Funds [Member] | |||
Alternative Investments, Fair Value Disclosure | 31 | 36 | |
Blended Funds [Member] | |||
Alternative Investments, Fair Value Disclosure | 79 | 95 | |
Asset-backed Securities [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 9 | 13 | |
Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 9 | 13 | |
Derivative Financial Instruments, Assets [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 5 | 8 | |
Derivative Financial Instruments, Assets [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 5 | 8 | |
Derivative Financial Instruments, Liabilities [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | (6) | (6) | |
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | (6) | (6) | |
UNITED STATES | Equity [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 386 | 378 | |
UNITED STATES | Equity [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 386 | 378 | |
UNITED STATES | Corporate Debt Securities [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 494 | 469 | |
UNITED STATES | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 494 | 469 | |
UNITED STATES | US Treasury and Government [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 42 | 62 | |
UNITED STATES | US Treasury and Government [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 42 | 62 | |
Non-U.S. [Member] | Equity [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 312 | 332 | |
Non-U.S. [Member] | Equity [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 312 | 332 | |
Non-U.S. [Member] | Corporate Debt Securities [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 102 | 114 | |
Non-U.S. [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 102 | 114 | |
Non-U.S. [Member] | US Treasury and Government [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 36 | 46 | |
Non-U.S. [Member] | US Treasury and Government [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Defined Benefit Plan, Fair Value of Plan Assets | $ 36 | $ 46 |
Pension And Postretirement Be85
Pension And Postretirement Benefits Pension And Postretirement Benefits (Schedule Of Changes In Fair Value Of Level 3 Investments) (Details) - Pension Plan, Defined Benefit [Member] - USD ($) $ in Millions | 12 Months Ended | |
Aug. 02, 2015 | Aug. 03, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Plan Assets | $ 2,364 | $ 2,275 |
Defined Benefit Plan, Actual Return on Plan Assets | 143 | 276 |
Defined Benefit Plan, Settlements, Plan Assets | 0 | 43 |
Defined Benefit Plan, Fair Value of Plan Assets | 2,316 | 2,364 |
Fair Value, Inputs, Level 3 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Plan Assets | 33 | 25 |
Defined Benefit Plan, Actual Return on Plan Assets | 3 | 1 |
Defined Benefit Plan, Purchase of Plan Assets | 9 | 7 |
Defined Benefit Plan, Sale of Plan Assets | 0 | 0 |
Defined Benefit Plan, Settlements, Plan Assets | 0 | 0 |
Defined Benefit Plan, Transfers Between Measurement Levels | 0 | 0 |
Defined Benefit Plan, Fair Value of Plan Assets | 45 | 33 |
Fair Value, Inputs, Level 3 [Member] | Real Estate [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Plan Assets | 3 | 0 |
Defined Benefit Plan, Actual Return on Plan Assets | 1 | 0 |
Defined Benefit Plan, Purchase of Plan Assets | 2 | 3 |
Defined Benefit Plan, Sale of Plan Assets | 0 | 0 |
Defined Benefit Plan, Settlements, Plan Assets | 0 | 0 |
Defined Benefit Plan, Transfers Between Measurement Levels | 0 | 0 |
Defined Benefit Plan, Fair Value of Plan Assets | 6 | 3 |
Fair Value, Inputs, Level 3 [Member] | Hedge Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Plan Assets | 30 | 25 |
Defined Benefit Plan, Actual Return on Plan Assets | 2 | 1 |
Defined Benefit Plan, Purchase of Plan Assets | 7 | 4 |
Defined Benefit Plan, Sale of Plan Assets | 0 | 0 |
Defined Benefit Plan, Settlements, Plan Assets | 0 | 0 |
Defined Benefit Plan, Transfers Between Measurement Levels | 0 | 0 |
Defined Benefit Plan, Fair Value of Plan Assets | $ 39 | $ 30 |
Pension And Postretirement Be86
Pension And Postretirement Benefits Pension And Postretirement Benefits (Schedule of Investments Valued Using Net Asset Value) (Details) - Pension Plan, Defined Benefit [Member] - USD ($) $ in Millions | 12 Months Ended | |
Aug. 02, 2015 | Aug. 03, 2014 | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Alternative Investments, Fair Value Disclosure | $ 805 | $ 821 |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | 28 | 54 |
Short-term Investments [Member] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Alternative Investments, Fair Value Disclosure | $ 28 | 37 |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Investment Redemption, Frequency | Daily | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Investment Redemption, Description | 1 day | |
Equity Funds [Member] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Alternative Investments, Fair Value Disclosure | $ 375 | 393 |
Equity Funds [Member] | Minimum [Member] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Investment Redemption, Frequency | Daily | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Investment Redemption, Description | 1 day | |
Equity Funds [Member] | Maximum [Member] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Investment Redemption, Frequency | Monthly | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Investment Redemption, Description | 120 days | |
Fixed Income Funds [Member] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Alternative Investments, Fair Value Disclosure | $ 31 | 36 |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Investment Redemption, Frequency | Daily | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Investment Redemption, Description | 1 day | |
Blended Funds [Member] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Alternative Investments, Fair Value Disclosure | $ 79 | 95 |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Investment Redemption, Frequency | Primarily Daily | |
Blended Funds [Member] | Minimum [Member] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Investment Redemption, Description | 1 day | |
Blended Funds [Member] | Maximum [Member] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Investment Redemption, Description | 20 days | |
Hedge Funds [Member] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Alternative Investments, Fair Value Disclosure | $ 175 | 151 |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | $ 25 | 47 |
Hedge Funds [Member] | Minimum [Member] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Investment Redemption, Frequency | Monthly | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Investment Redemption, Description | 5 days | |
Hedge Funds [Member] | Maximum [Member] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Investment Redemption, Frequency | Quarterly | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Investment Redemption, Description | 95 days | |
Real Estate Funds [Member] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Alternative Investments, Fair Value Disclosure | $ 117 | 109 |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | $ 3 | $ 7 |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Investment Redemption, Frequency | Primarily Quarterly | |
Real Estate Funds [Member] | Minimum [Member] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Investment Redemption, Description | 1 day | |
Real Estate Funds [Member] | Maximum [Member] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Investment Redemption, Description | 90 days |
Pension And Postretirement Be87
Pension And Postretirement Benefits (Schedule of Estimated Future Benefit Payments) (Details) $ in Millions | Aug. 02, 2015USD ($) |
Pension Plan, Defined Benefit [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months | $ 246 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Two | 169 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Three | 165 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Four | 168 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Five | 165 |
Defined Benefit Plan, Expected Future Benefit Payments, Five Fiscal Years Thereafter | 828 |
Other Postretirement Benefit Plan, Defined Benefit [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months | 30 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Two | 31 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Three | 31 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Four | 31 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Five | 31 |
Defined Benefit Plan, Expected Future Benefit Payments, Five Fiscal Years Thereafter | $ 141 |
Taxes on Earnings Taxes on Earn
Taxes on Earnings Taxes on Earnings (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Operating Loss Carryforwards | $ 173 | ||
Operating Loss Carryforwards, Valuation Allowance | 142 | ||
Valuation Allowance, Deferred Tax Asset, Change in Amount | (29) | $ 3 | |
Undistributed Earnings of Foreign Subsidiaries | 770 | ||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 39 | 23 | $ 23 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 5 | 2 | |
Income Tax Examination, Penalties and Interest Accrued | 3 | 3 | |
State and Local Jurisdiction [Member] | |||
Deferred Tax Assets, Tax Credit Carryforwards, Other | 2 | $ 9 | |
Non-U.S. [Member] | Capital Loss Carryforward [Member] | |||
Tax Credit Carryforward, Amount | $ 298 | ||
Minimum [Member] | |||
Operating Loss Carryforwards, Expiration Date | Jul. 31, 2016 | ||
Effective Income Tax Rate At Statutory Tax Rate | 16.00% | ||
Minimum [Member] | State and Local Jurisdiction [Member] | |||
Tax Credit Carryforward, Expiration Date | Jul. 29, 2018 | Jul. 29, 2018 | |
Maximum [Member] | |||
Operating Loss Carryforwards, Expiration Date | Jul. 31, 2035 | ||
Effective Income Tax Rate At Statutory Tax Rate | 35.00% | ||
Maximum [Member] | State and Local Jurisdiction [Member] | |||
Tax Credit Carryforward, Expiration Date | Jul. 28, 2024 | Jul. 28, 2024 | |
Tax Loss Carryforwards Expiring 2016 to 2035 [Member] | |||
Operating Loss Carryforwards | $ 127 | ||
Tax Loss Carryfowards Indefinitely [Member] | |||
Operating Loss Carryforwards | $ 46 |
Taxes on Earnings Schedule Of P
Taxes on Earnings Schedule Of Provision Of Income Taxes On Earnings Of Continuing Operations (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Income Tax Disclosure [Abstract] | |||
Current Federal Tax Expense (Benefit) | $ 246 | $ 252 | $ 268 |
Current State and Local Tax Expense (Benefit) | 31 | 30 | 24 |
Current Foreign Tax Expense (Benefit) | 55 | 42 | 47 |
Current Income Tax Expense (Benefit) | 332 | 324 | 339 |
Deferred Federal Income Tax Expense (Benefit) | (31) | 32 | (58) |
Deferred State and Local Income Tax Expense (Benefit) | 2 | 2 | (6) |
Deferred Foreign Income Tax Expense (Benefit) | (4) | (11) | 0 |
Deferred Income Tax Expense (Benefit) | (33) | 23 | (64) |
Income Tax Expense (Benefit) | 299 | 347 | 275 |
Income (Loss) from Continuing Operations before Income Taxes, Domestic | 850 | 995 | 815 |
Income (Loss) from Continuing Operations before Income Taxes, Foreign | 140 | 78 | 140 |
Earnings before taxes | $ 990 | $ 1,073 | $ 955 |
Taxes on Earnings Schedule Of R
Taxes on Earnings Schedule Of Reconciliation Of Effective Income Tax Rate (Details) | 12 Months Ended | ||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Income Tax Disclosure [Abstract] | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | 35.00% | 35.00% |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | 2.20% | 2.00% | 1.10% |
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent | (2.40%) | (1.00%) | (2.60%) |
Effective Income Tax Rate Reconciliation, Tax Settlement, Percent | (0.70%) | 0.00% | (0.10%) |
Effective Income Tax Rate Reconciliation, Deduction, Qualified Production Activity, Percent | (2.80%) | (2.30%) | (2.70%) |
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent | (1.10%) | (1.40%) | (1.90%) |
Effective Income Tax Rate Reconciliation, Percent | 30.20% | 32.30% | 28.80% |
Taxes on Earnings Schedule of D
Taxes on Earnings Schedule of Deferred Tax Liabilities and Assets (Details) - USD ($) $ in Millions | Aug. 02, 2015 | Aug. 03, 2014 |
Income Tax Disclosure [Abstract] | ||
Deferred Tax Liabilities, Property, Plant and Equipment | $ 306 | $ 300 |
Deferred Tax Liabilities, Goodwill and Intangible Assets | 541 | 541 |
Deferred Tax Liabilities, Other | 16 | 17 |
Deferred Tax Liabilities, Gross | 863 | 858 |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits | 298 | 294 |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Pensions | 92 | 63 |
Deferred Tax Assets, Operating Loss Carryforwards | 44 | 49 |
Deferred Tax Assets, Capital Loss Carryforwards | 85 | 112 |
Deferred Tax Assets, Other | 101 | 70 |
Deferred Tax Assets, Gross | 620 | 588 |
Deferred Tax Assets, Valuation Allowance | (122) | (151) |
Deferred Tax Assets, Net of Valuation Allowance | 498 | 437 |
Deferred Tax Liabilities, Net | $ 365 | $ 421 |
Taxes on Earnings Schedule of A
Taxes on Earnings Schedule of Activity Related to Unrecognized Tax Benefits (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Income Tax Disclosure [Abstract] | |||
Unrecognized Tax Benefits | $ 71 | $ 61 | $ 48 |
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions | 9 | 0 | 28 |
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions | 0 | (1) | (7) |
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions | 5 | 11 | 9 |
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities | (27) | 0 | (15) |
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations | 0 | 0 | (2) |
Unrecognized Tax Benefits | $ 58 | $ 71 | $ 61 |
Short-term Borrowings and Lon93
Short-term Borrowings and Long-term Debt Short-term Borrowing and Long-term Debt (Narratives) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Aug. 02, 2015 | Aug. 03, 2014 | |
Debt Instrument [Line Items] | ||
Short-term borrowings | $ 1,543 | $ 1,771 |
Commercial Paper | 1,532 | 1,406 |
Letters of Credit Outstanding, Amount | 50 | |
Line of Credit Facility, Maximum Borrowing Capacity | 2,200 | |
Line of Credit Facility Utilized Borrowing Capacity | 3 | |
Line of Credit Facility, Additional Borrowing Capacity | 500 | |
Long-term Debt | 2,552 | $ 2,544 |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 1 | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 401 | |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 1 | |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 301 | |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 0 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | $ 1,857 | |
Commercial Paper [Member] | ||
Debt Instrument [Line Items] | ||
Short-term Debt, Weighted Average Interest Rate | 0.58% | 0.27% |
3.30% notes, due 2025 | ||
Debt Instrument [Line Items] | ||
Long-term Debt | $ 300 | $ 0 |
Debt Instrument, Interest Rate, Stated Percentage | 3.30% | |
Debt Instrument, Maturity Date | Mar. 19, 2025 |
Short-term Borrowings and Lon94
Short-term Borrowings and Long-term Debt Short-term Borrowings and Long-term Debt (Schedule of Short-term Debt) (Details) - USD ($) $ in Millions | Aug. 02, 2015 | Aug. 03, 2014 |
Short-term Debt [Line Items] | ||
Commercial Paper | $ 1,532 | $ 1,406 |
Notes Payable, Current | 0 | 300 |
Capital Lease Obligations, Current | 1 | 1 |
Debt, Current | 1,543 | 1,771 |
Variable Interest Rate [Member] | ||
Short-term Debt [Line Items] | ||
Short-term Bank Loans and Notes Payable | 1 | 47 |
Fixed Interest Rate [Member] | ||
Short-term Debt [Line Items] | ||
Short-term Bank Loans and Notes Payable | $ 9 | $ 17 |
Short-term Borrowings and Lon95
Short-term Borrowings and Long-term Debt Short-term Borrowings and Long-term Debt (Schedule of Long-term Debt Instruments) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Aug. 02, 2015 | Aug. 03, 2014 | |
Debt Instrument [Line Items] | ||
Long-term Debt | $ 2,552 | $ 2,544 |
Capital Lease Obligations, Noncurrent | 10 | 3 |
Debt Instrument, Unamortized Discount (Premium), Net | 8 | 9 |
Long Term Debt And Capital Lease Obligations Aggregate | 2,552 | 2,544 |
Long-term Debt, Current Maturities | 0 | 300 |
Long-term Debt and Capital Lease Obligations | 2,552 | $ 2,244 |
3.38% notes, due 2015 | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Maturity Date | Aug. 15, 2014 | |
Debt Instrument, Interest Rate, Stated Percentage | 3.38% | |
Long-term Debt | $ 0 | $ 300 |
3.05% notes, due 2017 | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Maturity Date | Jul. 15, 2017 | |
Debt Instrument, Interest Rate, Stated Percentage | 3.05% | 3.05% |
Long-term Debt | $ 400 | $ 400 |
4.50% notes, due 2019 | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Maturity Date | Feb. 15, 2019 | |
Debt Instrument, Interest Rate, Stated Percentage | 4.50% | 4.50% |
Long-term Debt | $ 300 | $ 300 |
4.25% notes, due 2021 | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Maturity Date | Apr. 15, 2021 | |
Debt Instrument, Interest Rate, Stated Percentage | 4.25% | 4.25% |
Long-term Debt | $ 500 | $ 500 |
8.88% notes, due 2021 | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Maturity Date | May 1, 2021 | |
Debt Instrument, Interest Rate, Stated Percentage | 8.88% | 8.88% |
Long-term Debt | $ 200 | $ 200 |
2.50% notes, due 2023 | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Maturity Date | Aug. 2, 2022 | |
Debt Instrument, Interest Rate, Stated Percentage | 2.50% | 2.50% |
Long-term Debt | $ 450 | $ 450 |
3.30% notes, due 2025 | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Maturity Date | Mar. 19, 2025 | |
Debt Instrument, Interest Rate, Stated Percentage | 3.30% | |
Long-term Debt | $ 300 | $ 0 |
3.80% notes, due 2043 | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Maturity Date | Aug. 2, 2042 | |
Debt Instrument, Interest Rate, Stated Percentage | 3.80% | 3.80% |
Long-term Debt | $ 400 | $ 400 |
Financial Instruments (Narrativ
Financial Instruments (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Derivatives, Fair Value [Line Items] | |||
Margin Deposit Assets | $ 12 | $ 14 | |
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | $ 8 | ||
Cash Flow Hedge Ineffectiveness is Immaterial | The ineffective portion and amount excluded from effectiveness testing were not material. | ||
Foreign Exchange Contract [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Contracts Mature Within, Months | 18 months | ||
Currency Swap [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative, Lower Remaining Maturity Range | 12 months | ||
Derivative, Higher Remaining Maturity Range | 24 months | ||
Commodity Derivative Contracts [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Maximum Length of Contract Maturity | 18 months | ||
Deferred Compensation Derivative Contracts [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Maximum Length of Contract Maturity | 12 months | ||
Derivatives Designated As Hedges [Member] | Foreign Exchange Contract [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative, Notional Amount | $ 53 | 58 | |
Derivatives Designated As Hedges [Member] | Interest Rate Contract [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative, Notional Amount | 300 | 250 | |
DerivativeForwardInterestRateSettled | 250 | ||
Derivative instruments gain (loss) recognized in OCI | (4) | ||
Derivatives Designated As Hedges [Member] | Commodity Derivative Contracts [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative, Notional Amount | 0 | 0 | |
Derivatives Not Designated As Hedges [Member] | Foreign Exchange Contract [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative, Notional Amount | 480 | 561 | |
Derivatives Not Designated As Hedges [Member] | Commodity Derivative Contracts [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative, Notional Amount | 95 | 146 | |
Derivatives Not Designated As Hedges [Member] | Deferred Compensation Derivative Contracts [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative, Notional Amount | $ 49 | $ 56 | |
Wal-Mart Stores, Inc. [Member] | Sales Revenue, Net [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Entity Wide Revenue, Major Customer, Percentage Of Net Sales | 20.00% | 19.00% | 19.00% |
Financial Instruments (Schedule
Financial Instruments (Schedule Of The Fair Value Of Derivative Instruments) (Details) - USD ($) $ in Millions | Aug. 02, 2015 | Aug. 03, 2014 |
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | $ 54 | $ 15 |
Liability Derivatives | 20 | 23 |
Derivatives Designated As Hedges [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 3 | 12 |
Liability Derivatives | 8 | 1 |
Derivatives Designated As Hedges [Member] | Foreign Exchange Forward Contracts [Member] | Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 3 | 1 |
Derivatives Designated As Hedges [Member] | Foreign Exchange Forward Contracts [Member] | Accrued Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives | 0 | 1 |
Derivatives Designated As Hedges [Member] | Interest Rate Contract [Member] | Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 11 |
Derivatives Designated As Hedges [Member] | Interest Rate Contract [Member] | Other Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives | 8 | 0 |
Derivatives Not Designated As Hedges [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 51 | 3 |
Liability Derivatives | 12 | 22 |
Derivatives Not Designated As Hedges [Member] | Foreign Exchange Forward Contracts [Member] | Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 9 | 1 |
Derivatives Not Designated As Hedges [Member] | Foreign Exchange Forward Contracts [Member] | Accrued Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives | 2 | 2 |
Derivatives Not Designated As Hedges [Member] | Commodity Derivative Contracts [Member] | Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 1 | 2 |
Derivatives Not Designated As Hedges [Member] | Commodity Derivative Contracts [Member] | Accrued Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives | 10 | 10 |
Derivatives Not Designated As Hedges [Member] | Commodity Derivative Contracts [Member] | Other Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives | 0 | 1 |
Derivatives Not Designated As Hedges [Member] | Currency Swap [Member] | Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 22 | 0 |
Derivatives Not Designated As Hedges [Member] | Currency Swap [Member] | Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 18 | 0 |
Derivatives Not Designated As Hedges [Member] | Currency Swap [Member] | Accrued Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives | 0 | 1 |
Derivatives Not Designated As Hedges [Member] | Currency Swap [Member] | Other Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives | 0 | 5 |
Derivatives Not Designated As Hedges [Member] | Deferred Compensation Derivative Contracts [Member] | Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 1 | 0 |
Derivatives Not Designated As Hedges [Member] | Deferred Compensation Derivative Contracts [Member] | Accrued Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives | $ 0 | $ 3 |
Financial Instruments (Offsetti
Financial Instruments (Offsetting Assets and Liabilities) (Details) - USD ($) $ in Millions | Aug. 02, 2015 | Aug. 03, 2014 |
General Discussion of Derivative Instruments and Hedging Activities [Abstract] | ||
Derivative Asset, Fair Value, Gross Asset | $ 54 | $ 15 |
Derivative, Collateral, Obligation to Return Securities or Cash | 13 | 4 |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 41 | 11 |
Derivative Liability, Fair Value, Gross Liability | 20 | 23 |
Derivative, Collateral, Right to Reclaim Securities or Cash | 13 | 4 |
Derivative Liability, Fair Value, Amount Offset Against Collateral | $ 7 | $ 19 |
Financial Instruments (Schedu99
Financial Instruments (Schedule Of Changes In Cash Flow Hedges In Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
OCI derivative gain/(loss) at beginning of year | $ (4) | $ 8 | |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | (5) | (12) | $ 20 |
Reclassification adjustment for (gains) losses included in net earnings, before tax | (1) | 0 | 4 |
OCI derivative gain/(loss) at end of period | (10) | (4) | 8 |
Foreign Exchange Forward Contracts [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | 18 | 0 | |
Foreign Exchange Forward Contracts [Member] | Cost Of Products Sold [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Reclassification adjustment for (gains) losses included in net earnings, before tax | (4) | (4) | 1 |
Foreign Exchange Forward Contracts [Member] | Other Expenses/Income [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Reclassification adjustment for (gains) losses included in net earnings, before tax | (1) | 1 | (1) |
Interest Rate Contract [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | (23) | (12) | |
Interest Rate Contract [Member] | Interest Expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Reclassification adjustment for (gains) losses included in net earnings, before tax | $ 4 | $ 3 | $ 4 |
Financial Instruments (Derivati
Financial Instruments (Derivatives Designated As Fair-Value Hedges) (Details) - Interest Expense [Member] - Interest Rate Swap [Member] - USD ($) $ in Millions | 12 Months Ended | |
Aug. 02, 2015 | Aug. 03, 2014 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Amount of Gain or (Loss) Recognized in Earnings on Derivatives | $ 0 | $ (1) |
Amount of Gain or (Loss) Recognized in Earnings on Hedged Items | $ 0 | $ 1 |
Financial Instruments (Deriv101
Financial Instruments (Derivatives Not Designated As Hedges) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Aug. 02, 2015 | Aug. 03, 2014 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Amount of Gain or (Loss) Recognized in Earnings on Derivatives | $ 45 | $ (4) |
Foreign Exchange Forward Contracts [Member] | Cost Of Products Sold [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Amount of Gain or (Loss) Recognized in Earnings on Derivatives | 2 | 3 |
Foreign Exchange Forward Contracts [Member] | Other Expenses/Income [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Amount of Gain or (Loss) Recognized in Earnings on Derivatives | (3) | (12) |
Currency Swap [Member] | Other Expenses/Income [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Amount of Gain or (Loss) Recognized in Earnings on Derivatives | 58 | 7 |
Commodity Derivative Contracts [Member] | Cost Of Products Sold [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Amount of Gain or (Loss) Recognized in Earnings on Derivatives | (19) | (4) |
Deferred Compensation Derivative Contracts [Member] | General and Administrative Expense [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Amount of Gain or (Loss) Recognized in Earnings on Derivatives | $ 7 | $ 2 |
Fair Value Measurements Fair Va
Fair Value Measurements Fair Value Measurements Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||
Aug. 02, 2015 | Jan. 26, 2014 | Jul. 28, 2013 | Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $ 6 | |||||
Asset Impairment Charges | $ 11 | |||||
Goodwill | $ 2,344 | $ 2,297 | 2,344 | $ 2,433 | $ 2,297 | |
Cash and Cash Equivalents, at Carrying Value | 39 | 39 | 46 | |||
Long-term Debt | 2,552 | 2,552 | 2,544 | |||
Fair Value, Inputs, Level 2 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Cash and Cash Equivalents, Fair Value Disclosure | 39 | 39 | 46 | |||
Long-term Debt, Fair Value | 2,623 | 2,623 | 2,647 | |||
2014 Initiatives [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 54 | 54 | ||||
Restructuring and Related Cost, Incurred Cost | 0 | 54 | ||||
2014 Initiatives [Member] | Asset Impairment Accelerated Depreciation [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 12 | 12 | ||||
Restructuring and Related Cost, Incurred Cost | 0 | 12 | ||||
2013 Initiatives [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 146 | 146 | ||||
Restructuring and Related Cost, Incurred Cost | 0 | 4 | 142 | |||
2013 Initiatives [Member] | Asset Impairment Accelerated Depreciation [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 99 | 99 | ||||
Restructuring and Related Cost, Incurred Cost | 0 | 0 | 99 | |||
Global Baking And Snacking [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | 6 | |||||
Indefinite-lived Intangible Assets (Excluding Goodwill), Fair Value Disclosure | 9 | 9 | ||||
Goodwill | 732 | 775 | 732 | 918 | 775 | |
Global Baking And Snacking [Member] | 2014 Initiatives [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 23 | 23 | ||||
Global Baking And Snacking [Member] | 2014 Initiatives [Member] | Asset Impairment Accelerated Depreciation [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 0 | 0 | ||||
Global Baking And Snacking [Member] | 2013 Initiatives [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 14 | 14 | ||||
Global Baking And Snacking [Member] | 2013 Initiatives [Member] | Asset Impairment Accelerated Depreciation [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 10 | 10 | ||||
International Simple Meals And Beverages [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Goodwill | 96 | 122 | 96 | $ 115 | 122 | |
International Simple Meals And Beverages [Member] | 2014 Initiatives [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 18 | 18 | ||||
International Simple Meals And Beverages [Member] | 2014 Initiatives [Member] | Asset Impairment Accelerated Depreciation [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 11 | 11 | ||||
International Simple Meals And Beverages [Member] | 2013 Initiatives [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 9 | 9 | ||||
International Simple Meals And Beverages [Member] | 2013 Initiatives [Member] | Asset Impairment Accelerated Depreciation [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | $ 3 | $ 3 | ||||
Discontinued Operations [Member] | International Simple Meals And Beverages [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | 36 | |||||
Goodwill, Impairment Loss | 360 | |||||
Goodwill | 110 | 110 | ||||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Property, Plant, and Equipment, Fair Value Disclosure | $ 29 | $ 29 |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value Measurement Of Assets And Liabilities) (Details) - Measured On Recurring Basis [Member] - USD ($) $ in Millions | Aug. 02, 2015 | Aug. 03, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets at fair value | $ 54 | $ 15 | |
Total liabilities at fair value | 140 | 146 | |
Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets at fair value | 1 | 1 | |
Total liabilities at fair value | 130 | 134 | |
Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets at fair value | 53 | 14 | |
Total liabilities at fair value | 10 | 12 | |
Interest Rate Contract [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets at fair value | [1] | 0 | 11 |
Total liabilities at fair value | [1] | 8 | 0 |
Interest Rate Contract [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets at fair value | [1] | 0 | 11 |
Total liabilities at fair value | [1] | 8 | 0 |
Foreign Exchange Forward Contracts [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets at fair value | [2] | 12 | 2 |
Total liabilities at fair value | [2] | 2 | 3 |
Foreign Exchange Forward Contracts [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets at fair value | [2] | 12 | 2 |
Total liabilities at fair value | [2] | 2 | 3 |
Commodity Derivative Contracts [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets at fair value | [3] | 1 | 2 |
Total liabilities at fair value | [3] | 10 | 11 |
Commodity Derivative Contracts [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets at fair value | [3] | 1 | 1 |
Total liabilities at fair value | [3] | 10 | 11 |
Commodity Derivative Contracts [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets at fair value | [3] | 0 | 1 |
Total liabilities at fair value | [3] | 0 | 0 |
Currency Swap [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets at fair value | [4] | 40 | 0 |
Total liabilities at fair value | [4] | 0 | 6 |
Currency Swap [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets at fair value | [4] | 40 | 0 |
Total liabilities at fair value | [4] | 0 | 6 |
Deferred Compensation Derivative Contracts [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets at fair value | [5] | 1 | 0 |
Total liabilities at fair value | [5] | 0 | 3 |
Deferred Compensation Derivative Contracts [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets at fair value | [5] | 1 | 0 |
Total liabilities at fair value | [5] | 0 | 3 |
Deferred Compensation Obligation [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total liabilities at fair value | [6] | 120 | 123 |
Deferred Compensation Obligation [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total liabilities at fair value | [6] | $ 120 | $ 123 |
[1] | Based on LIBOR swap rates. | ||
[2] | Based on observable market transactions of spot currency rates and forward rates. | ||
[3] | Based on quoted futures exchanges and on observable prices of futures and options transactions in the marketplace. | ||
[4] | Based on observable local benchmarks for currency and interest rates. | ||
[5] | Based on LIBOR and equity index swap rates. | ||
[6] | Based on the fair value of the participants’ investments. |
Fair Value Measurements Fair104
Fair Value Measurements Fair Value Measurements (Assets Measured on Nonrecurring Basis) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Aug. 02, 2015 | Jul. 28, 2013 | |
Indefinite-lived Intangible Assets [Line Items] | ||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $ 6 | |
Trademarks Bla Band [Member] | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $ 1 | |
Indefinite-lived Intangible Assets (Excluding Goodwill), Fair Value Disclosure | 19 | |
Traemarks Heisse Tasse [Member] | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | 4 | |
Indefinite-lived Intangible Assets (Excluding Goodwill), Fair Value Disclosure | 6 | |
Trademarks Isomitta [Member] | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | 8 | |
Indefinite-lived Intangible Assets (Excluding Goodwill), Fair Value Disclosure | 4 | |
Trademarks Royco [Member] | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | 23 | |
Indefinite-lived Intangible Assets (Excluding Goodwill), Fair Value Disclosure | $ 53 |
Shareowners' Equity (Details)
Shareowners' Equity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | ||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Statement [Line Items] | |||
Common Stock, Shares Authorized | 560 | 560 | |
Common Stock, Par or Stated Value Per Share | $ 0.0375 | $ 0.0375 | |
Preferred Stock, Shares Authorized | 40 | 40 | |
Treasury stock retired, shares | 219 | ||
Shares repurchased, value | $ 244 | $ 76 | $ 153 |
June 2011 Program [Member] | |||
Statement [Line Items] | |||
Authorized amount for shares repurchase | 1,000 | ||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 550 | ||
Treasury Stock [Member] | |||
Statement [Line Items] | |||
Treasury stock retired, shares | 219 | ||
Treasury stock purchased, shares | 5 | 2 | 4 |
Shares repurchased, value | $ 244 | $ 76 | $ 153 |
Treasury Stock [Member] | June 2011 Program [Member] | |||
Statement [Line Items] | |||
Shares repurchased, value | $ 200 | ||
Treasury Stock [Member] | Shares Repurchased To Offset The Impact Of Dilution [Member] | |||
Statement [Line Items] | |||
Treasury stock purchased, shares | 2 | 4 |
Stock-based Compensation (Narra
Stock-based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 3 Months Ended | 12 Months Ended | ||||
Nov. 01, 2015 | Oct. 27, 2013 | Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | Jul. 29, 2012 | |
Stock-based Compensation | ||||||
Share Based Compensation Arrangement Share Based Payment Award Vested Options Contractual Exercise Term | 10 years | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||||
Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Total Award Vested By Year One | 30.00% | |||||
Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Total Award Vested By Year Two | 60.00% | |||||
Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Total Award Vested By Year Three | 100.00% | |||||
Pre-tax stock-based compensation expense | $ 57 | $ 56 | $ 109 | |||
Tax-related benefits | $ 21 | $ 21 | $ 42 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | 0 | |||
Total intrinsic value of options exercised | $ 5 | $ 12 | $ 36 | |||
Excess tax benefits on stock-based compensation | 6 | 13 | 12 | |||
Cash received from the exercise of stock options | $ 9 | $ 18 | $ 83 | |||
EPS Performance Restricted Stock Units [Member] | ||||||
Stock-based Compensation | ||||||
Nonvested, Units | 246 | |||||
Nonvested, Weighted-Average Grant-Date Fair Value | $ 40.69 | |||||
Strategic Performance Restricted Stock Units [Member] | ||||||
Stock-based Compensation | ||||||
Nonvested, Units | 360 | |||||
Nonvested, Weighted-Average Grant-Date Fair Value | $ 41.21 | |||||
Special Performance Restricted Stock Units [Member] | ||||||
Stock-based Compensation | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | |||||
Nonvested, Units | 184 | |||||
Nonvested, Weighted-Average Grant-Date Fair Value | $ 42.22 | |||||
Time Lapse E P S And Strategic Performance Restricted Stock Units [Member] | ||||||
Stock-based Compensation | ||||||
Nonvested, Units | 2,410 | 2,994 | ||||
Nonvested, Weighted-Average Grant-Date Fair Value | $ 41.40 | $ 37.69 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 1,183 | |||||
Granted, Weighted-Average Grant-Date Fair Value | $ 43 | $ 39.97 | $ 35.44 | |||
Remaining unearned compensation on nonvested awards | $ 32 | |||||
Weighted-average remaining service period, years | 1 year 7 months | |||||
Fair value of restricted units and shares vested | $ 56 | $ 106 | $ 57 | |||
TSR Performance Restricted Stock/Units [Member] | ||||||
Stock-based Compensation | ||||||
Nonvested, Units | 1,579 | 861 | ||||
Nonvested, Weighted-Average Grant-Date Fair Value | $ 40.75 | $ 38.15 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 874 | 0 | ||||
Granted, Weighted-Average Grant-Date Fair Value | $ 43.39 | $ 36.26 | $ 39.76 | |||
Remaining unearned compensation on nonvested awards | $ 26 | |||||
Weighted-average remaining service period, years | 1 year 11 months | |||||
Percentage recipients received based on performance | 100.00% | 0.00% | ||||
Discontinued Operations [Member] | ||||||
Stock-based Compensation | ||||||
Pre-tax stock-based compensation expense | $ 1 | $ 4 | ||||
Minimum [Member] | EPS Performance Restricted Stock Units [Member] | ||||||
Stock-based Compensation | ||||||
Potential Percentage Of Grant Under Performance Plan | 0.00% | |||||
Minimum [Member] | Strategic Performance Restricted Stock Units [Member] | ||||||
Stock-based Compensation | ||||||
Potential Percentage Of Grant Under Performance Plan | 0.00% | |||||
Minimum [Member] | Special Performance Restricted Stock Units [Member] | ||||||
Stock-based Compensation | ||||||
Potential Percentage Of Grant Under Performance Plan | 0.00% | |||||
Minimum [Member] | TSR Performance Restricted Stock/Units [Member] | ||||||
Stock-based Compensation | ||||||
Potential Percentage Of Grant Under Performance Plan | 0.00% | |||||
Maximum [Member] | EPS Performance Restricted Stock Units [Member] | ||||||
Stock-based Compensation | ||||||
Potential Percentage Of Grant Under Performance Plan | 100.00% | |||||
Maximum [Member] | Strategic Performance Restricted Stock Units [Member] | ||||||
Stock-based Compensation | ||||||
Potential Percentage Of Grant Under Performance Plan | 200.00% | |||||
Maximum [Member] | Special Performance Restricted Stock Units [Member] | ||||||
Stock-based Compensation | ||||||
Potential Percentage Of Grant Under Performance Plan | 150.00% | |||||
Maximum [Member] | TSR Performance Restricted Stock/Units [Member] | ||||||
Stock-based Compensation | ||||||
Potential Percentage Of Grant Under Performance Plan | 225.00% | |||||
2003 And Previous Long-Term Plan [Member] | ||||||
Stock-based Compensation | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 31,200 | |||||
2005 Long Term Incentive Plan [Member] | ||||||
Stock-based Compensation | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 6,000 | |||||
2005 Long Term Incentive Plan [Member] | Two Thousand Eight [Domain] | ||||||
Stock-based Compensation | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 11,000 | |||||
2005 Long Term Incentive Plan [Member] | Two Thousand Ten [Member] | ||||||
Stock-based Compensation | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 17,500 |
Stock-based Compensation (Sched
Stock-based Compensation (Schedule Of Stock Option Activity) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 12 Months Ended | ||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Beginning of year, Options | 408 | ||
Granted, Options | 0 | 0 | 0 |
Exercised, Options | (331) | ||
Terminated, Options | (3) | ||
End of year, Options | 74 | 408 | |
Exercisable at end of period, Options | 74 | ||
Beginning of period, Weighted-Average Exercise Price | $ 28.33 | ||
Granted, Weighted-Average Exercise Price | 0 | ||
Exercised, Weighted-Average Exercise Price | 27.98 | ||
Terminated, Weighted-Average Exercise Price | 26.36 | ||
End of period, Weighted-Average Exercise Price | 29.91 | $ 28.33 | |
Exercisable at end of period, Weighted-Average Exercise Price | $ 29.91 | ||
Outstanding at end of period, Weighted-Average Remaining Contractual Life (In years) | 5 months | ||
Exercisable at end of period, Weighted-Average Remaining Contractual Life (In years) | 5 months | ||
Outstanding at end of period, Aggregate Intrinsic Value | $ 1 | ||
Exercisable at end of period, Aggregate Intrinsic Value | $ 1 |
Stock-based Compensation (Time-
Stock-based Compensation (Time-Lapse Restricted Stock Units, EPS Performance Restricted Stock Units And Strategic Performance Restricted Stock Units And TSR Performance Restricted Stock Units) (Details) - $ / shares shares in Thousands | 12 Months Ended | |||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | Jul. 29, 2012 | |
Time Lapse, EPS Performance And Strategic Performance Restricted Stock Units [Member] | ||||
Stock-based Compensation | ||||
Nonvested at beginning of period, Units | 2,994 | |||
Granted, Units | 1,183 | |||
Vested, Units | (1,303) | |||
Forfeited, Units | (464) | |||
Nonvested at end of period, Units | 2,410 | 2,994 | ||
Nonvested at beginning of period, Weighted-Average Grant-Date Fair Value | $ 37.69 | |||
Granted, Weighted-Average Grant-Date Fair Value | 43 | $ 39.97 | $ 35.44 | |
Vested, Weighted-Average Grant-Date Fair Value | 35.89 | |||
Forfeited, Weighted Average Grant Date Fair Value | 37 | |||
Nonvested at end of period, Weighted-Average Grant-Date Fair Value | $ 41.40 | $ 37.69 | ||
TSR Performance Restricted Stock/Units [Member] | ||||
Stock-based Compensation | ||||
Nonvested at beginning of period, Units | 861 | |||
Granted, Units | 874 | 0 | ||
Vested, Units | 0 | |||
Forfeited, Units | (156) | |||
Nonvested at end of period, Units | 1,579 | 861 | ||
Nonvested at beginning of period, Weighted-Average Grant-Date Fair Value | $ 38.15 | |||
Granted, Weighted-Average Grant-Date Fair Value | 43.39 | $ 36.26 | $ 39.76 | |
Vested, Weighted-Average Grant-Date Fair Value | 0 | |||
Forfeited, Weighted Average Grant Date Fair Value | 41.23 | |||
Nonvested at end of period, Weighted-Average Grant-Date Fair Value | $ 40.75 | $ 38.15 |
Stock-based Compensation (Assum
Stock-based Compensation (Assumptions Used In Monte Carlo Simulation) (Details) - TSR Performance Restricted Stock/Units [Member] | 12 Months Ended | ||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate | 0.97% | 0.60% | 0.30% |
Expected dividend yield | 2.91% | 2.98% | 3.26% |
Expected volatility | 16.20% | 15.76% | 15.07% |
Expected term, years | 3 years | 3 years | 3 years |
Commitments and Contingencie110
Commitments and Contingencies (Narrative) (Details) $ in Millions | 12 Months Ended | ||
Aug. 02, 2015USD ($) | Aug. 03, 2014USD ($) | Jul. 28, 2013USD ($) | |
Operating Leases, Rent Expense, Net | $ 48 | $ 50 | $ 54 |
Number of bank loans guarantees related to independent distributors | 2,000 | ||
Maximum potential amount of future payments | $ 192 | ||
Discontinued Operations [Member] | |||
Operating Leases, Rent Expense, Net | $ 2 | $ 8 |
Commitments and Contingencie111
Commitments and Contingencies (Schedule of Future Annual Minimum Rental Payments (Details) $ in Millions | Aug. 02, 2015USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Minimum rental obligation, 2016 | $ 38 |
Minimum rental obligation, 2017 | 26 |
Minimum rental obligation, 2018 | 22 |
Minimum rental obligation, 2019 | 17 |
Minimum rental obligation, 2020 | 15 |
Minimum rental obligation, thereafter | $ 21 |
Supplemental Financial State112
Supplemental Financial Statement Data (Schedule of Balance Sheets) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | ||
Receivables [Abstract] | ||||
Customer accounts receivable | $ 570 | $ 597 | ||
Allowances | (13) | (12) | ||
Accounts receivable, net current | 557 | 585 | ||
Other receivables | 90 | 85 | ||
Accounts receivable, net | 647 | 670 | ||
Inventory, Net [Abstract] | ||||
Inventory, Raw Materials, Gross | 427 | 399 | ||
Inventory, Finished Goods, Gross | 566 | 617 | ||
Inventories | 993 | 1,016 | ||
Prepaid Expense and Other Assets, Current [Abstract] | ||||
Deferred Tax Assets, Net of Valuation Allowance, Current | 115 | 96 | ||
Derivative Asset, Current | 32 | 15 | ||
Other Assets, Miscellaneous, Current | 52 | 71 | ||
Other current assets | 199 | 182 | ||
Property, Plant and Equipment, Net [Abstract] | ||||
Land | 57 | 62 | ||
Buildings and Improvements, Gross | 1,416 | 1,384 | ||
Machinery and Equipment, Gross | 3,802 | 3,856 | ||
Construction in Progress, Gross | 238 | 217 | ||
Property, Plant and Equipment, Gross | 5,513 | 5,519 | ||
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | [1] | (3,166) | (3,201) | |
Plant assets, net of depreciation | 2,347 | 2,318 | $ 2,260 | |
Other Assets, Noncurrent [Abstract] | ||||
Derivative Asset, Noncurrent | 22 | 0 | ||
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent | 25 | 32 | ||
Other Assets, Miscellaneous, Noncurrent | 54 | 55 | ||
Other assets | 101 | 87 | ||
Other Liabilities, Current [Abstract] | ||||
Employee-related Liabilities, Current | 255 | 237 | ||
Derivative Liability, Current | 12 | 17 | ||
Accrued Marketing Costs, Current | 125 | 122 | ||
Interest Payable, Current | 35 | 37 | ||
Restructuring Reserve, Current | 54 | 31 | ||
Other Accrued Liabilities, Current | 108 | 109 | ||
Accrued liabilities | 589 | 553 | ||
Other Liabilities, Noncurrent [Abstract] | ||||
Defined Benefit Pension Plan, Liabilities, Noncurrent | 233 | 170 | ||
Deferred Compensation Liability, Noncurrent | [2] | 104 | 109 | |
Other Postretirement Benefits Payable, Noncurrent | 362 | 359 | ||
Derivative Liability, Noncurrent | 8 | 6 | ||
Liability for Uncertain Tax Positions, Noncurrent | 26 | 23 | ||
Restructuring Reserve, Noncurrent | 49 | 0 | ||
Other Accrued Liabilities, Noncurrent | 68 | 62 | ||
Other liabilities | 850 | 729 | ||
Depreciation | $ 286 | $ 287 | 393 | |
Discontinued Operations [Member] | ||||
Other Liabilities, Noncurrent [Abstract] | ||||
Depreciation | $ 1 | |||
Building [Member] | Minimum [Member] | ||||
Other Liabilities, Noncurrent [Abstract] | ||||
Property, Plant and Equipment, Useful Life | 7 years | |||
Building [Member] | Maximum [Member] | ||||
Other Liabilities, Noncurrent [Abstract] | ||||
Property, Plant and Equipment, Useful Life | 45 years | |||
Machinery and Equipment [Member] | Minimum [Member] | ||||
Other Liabilities, Noncurrent [Abstract] | ||||
Property, Plant and Equipment, Useful Life | 2 years | |||
Machinery and Equipment [Member] | Maximum [Member] | ||||
Other Liabilities, Noncurrent [Abstract] | ||||
Property, Plant and Equipment, Useful Life | 20 years | |||
[1] | Depreciation expense was $286 in 2015, $287 in 2014 and $393 in 2013. These amounts included $1 in 2013 related to discontinued operations. Buildings are depreciated over periods ranging from 7 to 45 years. Machinery and equipment are depreciated over periods generally ranging from 2 to 20 years. | |||
[2] | The deferred compensation obligation represents unfunded plans maintained for the purpose of providing our directors and certain of our executives the opportunity to defer a portion of their compensation. All forms of compensation contributed to the deferred compensation plans are accounted for in accordance with the underlying program. Deferrals and our contributions are credited to an investment account in the participant's name, although no funds are actually contributed to the investment account and no investments are actually purchased. Seven investment choices are available, including: (1) a book account that tracks the total return on our stock; (2) a book account that tracks the performance of the Vanguard Institutional Index; (3) a book account that tracks the performance of the Vanguard Extended Market Index; (4) a book account that tracks the performance of the Vanguard Total International Stock Index; (5) a book account that tracks the performance of the Vanguard Total Bond Market Index; (6) a book account that tracks the performance of the Vanguard Short-Term Bond Index; and (7) a book account that tracks the BlackRock Liquidity TempFund. Participants can reallocate investments daily and are entitled to the gains and losses on investment funds. We recognize an amount in the Consolidated Statements of Earnings for the market appreciation/depreciation of each fund. |
Supplemental Financial State113
Supplemental Financial Statement Data (Schedule of Statement of Earnings) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||
Aug. 03, 2014 | Apr. 27, 2014 | Jan. 26, 2014 | Oct. 27, 2013 | Oct. 28, 2012 | Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | ||
Foreign Currency Transaction Gain (Loss), before Tax | [1] | $ 0 | $ 6 | $ 3 | |||||
Amortization of Intangible Assets | 17 | 18 | 14 | ||||||
Impairment of Intangible Assets (Excluding Goodwill) | [2] | 6 | 0 | 0 | |||||
Business Combination, Acquisition Related Costs | $ 10 | 0 | 0 | 10 | |||||
Other Nonoperating Expense | 1 | (2) | 2 | ||||||
Other General Expense | 24 | 22 | 29 | ||||||
Advertising Expense | [3] | 385 | 411 | 419 | |||||
Interest Costs Incurred | 111 | 124 | 138 | ||||||
Interest Costs Capitalized | (3) | (2) | (3) | ||||||
Interest Expense | 108 | 122 | $ 135 | ||||||
Derivative, Gain (Loss) on Derivative, Net | $ 0 | $ 0 | $ 0 | $ (6) | |||||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $ 6 | ||||||||
Corporate, Non-Segment [Member] | Foreign Exchange Contract [Member] | |||||||||
Derivative, Gain (Loss) on Derivative, Net | $ (9) | ||||||||
[1] | 2014 included a loss of $9 on foreign exchange forward contracts used to hedge the proceeds from the sale of the European simple meals business. | ||||||||
[2] | In 2015, we recognized a $6 impairment charge related to minor trademarks. See also Note 6. | ||||||||
[3] | Included in Marketing and selling expenses. |
Supplemental Financial State114
Supplemental Financial Statement Data (Schedule of Statements of Cash Flow) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Statement of Financial Position [Abstract] | |||
Non-cash Compensation Benefit Related Expense | $ 78 | $ 114 | $ 134 |
Other Noncash Operating Activities, Cash Flow Statement | 16 | 4 | 21 |
Other Noncash Income (Expense) | 94 | 118 | 155 |
Employee Benefits And Deferred Compensation Payments | (53) | (52) | (54) |
Other Operating Activities, Cash Flow Statement | 1 | (1) | (4) |
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities | (52) | (53) | (58) |
Interest Paid | 111 | 122 | 124 |
Interest Received | 3 | 3 | 10 |
Income Taxes Paid, Net | $ 333 | $ 421 | $ 345 |
Product Recall (Details)
Product Recall (Details) - Plum [Member] - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended |
Oct. 27, 2013 | Aug. 03, 2014 | |
Product Liability Contingency [Line Items] | ||
Inventory recall expense | $ 16 | |
Inventory recall expense, after tax | $ 11 | $ 11 |
Inventory recall expense, per diluted share | $ 0.03 |
Quarterly Data (Details)
Quarterly Data (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Aug. 02, 2015 | May. 03, 2015 | Feb. 01, 2015 | Nov. 02, 2014 | Aug. 03, 2014 | Apr. 27, 2014 | Jan. 26, 2014 | Oct. 27, 2013 | Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | |
Net sales | $ 1,693 | $ 1,900 | $ 2,234 | $ 2,255 | $ 1,852 | $ 1,970 | $ 2,281 | $ 2,165 | $ 8,082 | $ 8,268 | $ 8,052 |
Gross Profit | 612 | 682 | 728 | 783 | 631 | 676 | 814 | 777 | |||
Earnings from continuing operations | 137 | 184 | 235 | 181 | 691 | 726 | 680 | ||||
Earnings (loss) from discontinued operations | 0 | 0 | 90 | (9) | 0 | 81 | (231) | ||||
Net Income (Loss) Attributable to Parent | $ 68 | $ 182 | $ 207 | $ 234 | $ 137 | $ 184 | $ 325 | $ 172 | $ 691 | $ 818 | $ 458 |
Earnings (Loss) from Continuing Operations, Per Basic Share | $ 0.44 | $ 0.59 | $ 0.75 | $ 0.58 | $ 2.21 | $ 2.35 | $ 2.19 | ||||
Earnings (loss) from discontinued operations, Per Basic Share | 0 | 0 | 0.29 | (0.03) | 0 | 0.26 | (0.74) | ||||
Earnings Per Share, Basic | $ 0.22 | $ 0.59 | $ 0.66 | $ 0.75 | 0.44 | 0.59 | 1.04 | 0.55 | 2.21 | 2.61 | 1.46 |
Common Stock, Dividends, Per Share, Declared | 0.312 | 0.312 | 0.312 | 0.312 | 0.312 | 0.312 | 0.312 | 0.312 | 1.248 | 1.248 | 1.16 |
Earnings (Loss) from Continuing Operations, Per Diluted Share | 0.43 | 0.58 | 0.74 | 0.57 | 2.21 | 2.33 | 2.17 | ||||
Earnings (loss) from discontinued operations, Per Diluted Share | 0 | 0 | 0.28 | (0.03) | 0 | 0.26 | (0.73) | ||||
Earnings Per Share, Diluted | $ 0.22 | $ 0.58 | $ 0.66 | $ 0.74 | $ 0.43 | $ 0.58 | $ 1.03 | $ 0.54 | 2.21 | $ 2.59 | $ 1.44 |
Restructuring charges, after tax | $ 67 | $ 11 | $ 0 | $ 0 | $ 15 | $ 1 | $ 5 | $ 15 | |||
Defined Benefit Plan Recognized Net Gain Loss Due to Settlements Net Of Tax | 3 | 11 | 0 | 0 | |||||||
Derivatives (Gain) Loss | 0 | 0 | 0 | 6 | |||||||
Other Tax Expense (Benefit) | $ 0 | $ 0 | $ 0 | $ 7 | |||||||
Restructuring charges, Per Diluted Share | $ 0.21 | $ 0.04 | $ 0 | $ 0 | $ 0.05 | $ 0 | $ 0.02 | $ 0.05 | |||
Defined Benefit Plan Recognized Loss Due To Settlements, Per Diluted Share | 0.01 | 0.03 | 0 | 0 | |||||||
Derivative Loss Net, Per Diluted Share | 0 | 0 | 0 | 0.02 | |||||||
Other Tax Expense, Per Diluted Share | $ 0 | $ 0 | $ 0 | $ 0.02 | |||||||
Discontinued Operations [Member] | |||||||||||
Earnings (loss) from discontinued operations | $ 81 | $ (231) | |||||||||
Discontinued Operation, (Gain) Loss on Disposal of Discontinued Operation, Net of Tax | $ 0 | $ 0 | $ 90 | $ (18) | $ (72) | ||||||
(Income) Loss from Disposal of Discontinued Operations, Net of Tax, Per Diluted Share | $ 0 | $ 0 | $ 0.28 | $ (0.06) | $ (0.23) | ||||||
Maximum [Member] | |||||||||||
Share Price | 49.54 | 48.31 | 47.45 | 45.12 | 46.67 | 45.48 | 43.70 | 48.08 | 49.54 | 46.67 | |
Minimum [Member] | |||||||||||
Share Price | $ 44.92 | $ 44.45 | $ 42.70 | $ 41.15 | $ 41.39 | $ 39.60 | $ 38.30 | $ 39.87 | $ 44.92 | $ 41.39 |
Valuation and Qualifying Acc117
Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Aug. 02, 2015 | Aug. 03, 2014 | Jul. 28, 2013 | ||
Beginning Balance | $ 12 | $ 11 | $ 10 | |
Charged to (Reduction in) Cost and Expense | 118 | 115 | 116 | |
Deductions | (117) | (116) | (115) | |
Acquisitions | 0 | 2 | 0 | |
Ending Balance | 13 | 12 | 11 | |
Actual Returns | 105 | 118 | 124 | |
Reserve for Cash Discount [Member] | ||||
Beginning Balance | 4 | 5 | 4 | |
Charged to (Reduction in) Cost and Expense | 116 | 114 | 114 | |
Deductions | (115) | (115) | (113) | |
Acquisitions | 0 | 0 | 0 | |
Ending Balance | 5 | 4 | 5 | |
Allowance for Doubtful Accounts [Member] | ||||
Beginning Balance | 3 | 2 | 2 | |
Charged to (Reduction in) Cost and Expense | 2 | 0 | 1 | |
Deductions | (1) | (1) | (1) | |
Acquisitions | 0 | 2 | 0 | |
Ending Balance | 4 | 3 | 2 | |
Allowance for Sales Returns [Member] | ||||
Beginning Balance | [1] | 5 | 4 | 4 |
Charged to (Reduction in) Cost and Expense | [1] | 0 | 1 | 1 |
Deductions | [1] | (1) | 0 | (1) |
Acquisitions | [1] | 0 | 0 | 0 |
Ending Balance | [1] | $ 4 | $ 5 | $ 4 |
Maximum [Member] | ||||
Percentage Of Actual Returns | 2.00% | 2.00% | 2.00% | |
[1] | The returns reserve is evaluated quarterly and adjusted accordingly. During each period, returns are charged to net sales in the Consolidated Statements of Earnings as incurred. Actual returns were approximately $105 in 2015, $118 in 201 and $124 in 2013, or less than 2% of net sales. |