0000016732-21-000160 | 10-Q | XBRL Viewer

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Document and Entity Information Document - shares	3 Months Ended
Document and Entity Information Document - shares	Oct. 31, 2021	Dec. 01, 2021
Document and Entity Information [Abstract]
Entity Registrant Name	CAMPBELL SOUP CO
Entity Central Index Key	0000016732
Current Fiscal Year End Date	--07-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Oct. 31, 2021
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		301,737,878
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Address, Address Line One	1 Campbell Place
Entity Address, City or Town	Camden
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08103
City Area Code	856
Local Phone Number	342-4800
Entity Interactive Data Current	Yes
Entity File Number	1-3822
Title of 12(b) Security	Capital Stock, par value $.0375
Trading Symbol	CPB
Security Exchange Name	NYSE
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	NJ
Entity Tax Identification Number	21-0419870

Consolidated Statements of Earnings - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Oct. 31, 2021	Nov. 01, 2020
Income Statement [Abstract]
Net sales	$ 2,236	$ 2,340
Costs and expenses
Cost of products sold	1,514	1,527
Marketing and selling expenses	170	208
Administrative expenses	156	141
Research and development expenses	21	20
Other expenses / (income)	(1)	(18)
Restructuring charges	0	1
Total costs and expenses	1,860	1,879
Earnings before interest and taxes	376	461
Interest expense	47	55
Interest income	0	0
Earnings before taxes	329	406
Taxes on earnings	68	97
Earnings from continuing operations	261	309
Earnings (loss) from discontinued operations	0	0
Net earnings	261	309
Less: Net earnings (loss) attributable to noncontrolling interests	0	0
Net earnings attributable to Campbell Soup Company	$ 261	$ 309
Per Share - Basic
Earnings from continuing operations attributable to Campbell Soup Company	$ 0.86	$ 1.02
Earnings (loss) from discontinued operations	0	0
Net earnings attributable to Campbell Soup Company	$ 0.86	$ 1.02
Weighted average shares outstanding - basic	302	302
Per Share - Assuming Dilution
Earnings from continuing operations attributable to Campbell Soup Company	$ 0.86	$ 1.02
Earnings (loss) from discontinued operations	0	0
Net earnings attributable to Campbell Soup Company	$ 0.86	$ 1.02
Weighted average shares outstanding - assuming dilution	303	304

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2021	Nov. 01, 2020
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ 261	$ 309
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax [Abstract]
Foreign currency translation adjustments, before tax	0	0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax [Abstract]
Unrealized gains (losses) arising during the period, before tax	3	(1)
Reclassification adjustment for losses (gains) included in net earnings, before tax	0	0
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	0	(1)
Other comprehensive income (loss), before tax	3	(2)
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax [Abstract]
Foreign currency translation adjustments, tax (expense) benefit	0	0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax [Abstract]
Unrealized gains (losses) arising during the period, tax	(1)	1
Reclassification adjustment for losses (gains) included in net earnings, tax (expense) benefit	0	0
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax [Abstract]
Reclassification of prior service credit included in net earnings, tax (expense) benefit	0	0
Other comprehensive income (loss), tax (expense) benefit	(1)	1
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax [Abstract]
Foreign currency translation adjustments, after-tax	0	0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax [Abstract]
Unrealized gains (loss) arising during the period, after-tax	2	0
Reclassification adjustment for losses (gains) included in net earnings, after-tax	0	0
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax [Abstract]
Reclassification of prior service credit included in net earnings, after-tax	0	(1)
Other comprehensive income (loss), after-tax	2	(1)
Total comprehensive income (loss), after-tax	263	308
Total comprehensive income (loss) attributable to noncontrolling interests	0	(2)
Total comprehensive income (loss) attributable to Campbell Soup Company	$ 263	$ 310

Consolidated Balance Sheets - USD ($) shares in Millions, $ in Millions	Oct. 31, 2021	Aug. 01, 2021
Current assets
Cash and cash equivalents	$ 69	$ 69
Accounts receivable, net	731	595
Inventories	974	933
Other current assets	102	98
Total current assets	1,876	1,695
Plant assets, net of depreciation	2,355	2,370
Goodwill	3,982	3,981
Other intangible assets, net of amortization	3,228	3,239
Other assets	458	449
Total assets	11,899	11,734
Current liabilities
Short-term borrowings	480	48
Payable to suppliers and others	1,151	1,070
Accrued liabilities	539	576
Dividends payable	113	115
Accrued income taxes	55	5
Total current liabilities	2,338	1,814
Long-term debt	4,567	5,010
Deferred taxes	1,073	1,051
Other liabilities	684	705
Total liabilities	8,662	8,580
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	372	414
Earnings retained in the business	3,882	3,742
Capital stock in treasury, at cost	(1,038)	(1,021)
Accumulated other comprehensive income (loss)	7	5
Total Campbell Soup Company shareholders' equity	3,235	3,152
Noncontrolling interests	2	2
Total equity	3,237	3,154
Total liabilities and equity	$ 11,899	$ 11,734
Preferred Stock, Shares Authorized	40	40
Preferred Stock, Shares Issued	0	0
Common Stock, Par or Stated Value Per Share	$ 0.0375	$ 0.0375
Common Stock, Shares Authorized	560	560
Common Stock, Shares, Issued	323	323

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2021	Nov. 01, 2020
Cash flows from operating activities:
Net earnings	$ 261	$ 309
Adjustments to reconcile net earnings to operating cash flow
Stock-based compensation	14	16
Pension and postretirement benefit income	(9)	(20)
Depreciation and amortization	83	76
Deferred income taxes	20	25
Other	22	22
Changes in working capital
Accounts receivable	(137)	(189)
Inventories	(40)	(38)
Prepaid assets	(5)	8
Accounts payable and accrued liabilities	87	(28)
Other	(8)	(1)
Net cash provided by operating activities	288	180
Cash flows from investing activities:
Purchases of plant assets	(69)	(74)
Purchases of route businesses	0	(1)
Sales of route businesses	1	3
Net cash used in investing activities	(68)	(72)
Cash flows from financing activities:
Short-term borrowings, including commercial paper	371	0
Short-term repayments, including commercial paper	(395)	(123)
Dividends paid	(116)	(108)
Treasury stock purchases	(63)	0
Treasury stock issuances	1	0
Payments related to tax withholding for stock-based compensation	(17)	(13)
Other	(1)	(1)
Net cash used in financing activities	(220)	(245)
Effect of exchange rate changes on cash	0	0
Net change in cash and cash equivalents	0	(137)
Cash and cash equivalents - beginning of period	69	859
Cash and cash equivalents - end of period	$ 69	$ 722

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 Aug. 02, 2020		323.0
Treasury stock, shares at Aug. 02, 2020			(21.0)
Balance, value at Aug. 02, 2020	$ 2,569	$ 12	$ (1,023)	$ 394	$ 3,190	$ (10)	$ 6
Net earnings (loss)	309				309		0
Other comprehensive income (loss)	(1)					1	(2)
Dividends	$ (107)				(107)
Dividends per share	$ 0.35
Treasury stock purchased, Shares			0.0
Treasury stock purchased, value	$ 0		$ 0
Treasury stock issued under management incentive and stock option plans, shares			1.0
Treasury stock issued under management incentive and stock option plans, value	3		$ 32	(24)	(5)
Capital stock, shares at Nov. 01, 2020		323.0
Treasury Stock, Shares at Nov. 01, 2020			(20.0)
Balance, value at Nov. 01, 2020	2,773	$ 12	$ (991)	370	3,387	(9)	4
Capital stock, shares at Aug. 01, 2021		323.0
Treasury stock, shares at Aug. 01, 2021			(21.0)
Balance, value at Aug. 01, 2021	3,154	$ 12	$ (1,021)	414	3,742	5	2
Net earnings (loss)	261				261		0
Other comprehensive income (loss)	2					2	0
Dividends	$ (113)				(113)
Dividends per share	$ 0.37
Treasury stock purchased, Shares			(1.5)
Treasury stock purchased, value	$ (63)		$ (63)
Treasury stock issued under management incentive and stock option plans, shares			1.0
Treasury stock issued under management incentive and stock option plans, value	(4)		$ 46	(42)	(8)
Capital stock, shares at Oct. 31, 2021		323.0
Treasury Stock, Shares at Oct. 31, 2021			(21.0)
Balance, value at Oct. 31, 2021	$ 3,237	$ 12	$ (1,038)	$ 372	$ 3,882	$ 7	$ 2

Basis of Presentations and Significant Accounting Policies	3 Months Ended
	Oct. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentations and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies In this Form 10-Q, unless otherwise stated, the terms "we," "us," "our" and the "company" refer to Campbell Soup Company and its consolidated subsidiaries. The financial statements reflect all adjustments which are, in our opinion, necessary for a fair statement of the results of operations, financial position, and cash flows for the indicated periods. The accounting policies we used in preparing these financial statements are substantially consistent with those we applied in our Annual Report on Form 10-K for the year ended August 1, 2021. Certain amounts in prior-year financial statements were reclassified to conform to the current-year presentation. The results for the period are not necessarily indicative of the results to be expected for other interim periods or the full year. Our fiscal year ends on the Sunday nearest July 31, which is July 31, 2022.

Recent Accounting Pronouncements	3 Months Ended
Recent Accounting Pronouncements	Oct. 31, 2021
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted In December 2019, the Financial Accounting Standards Board (FASB) issued guidance on simplifying the accounting for income taxes. The guidance removes certain exceptions to the general principles of accounting for income taxes and also improves consistent application of accounting by clarifying or amending existing guidance. We adopted the guidance in the first quarter of 2022. The adoption did not have an impact on our consolidated financial statements. Accounting Pronouncements Not Yet Adopted In March 2020, the FASB issued guidance that provides optional expedients and exceptions for a limited period of time for accounting for contracts, hedging relationships, and other transactions affected by the London Interbank Offered Rate (LIBOR) or another reference rate expected to be discontinued. Optional expedients can be applied from March 12, 2020 through December 31, 2022. We are currently evaluating the impact that the new guidance will have on our consolidated financial statements.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Oct. 31, 2021

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 August 2, 2020	$	(10)	$	(7)	$	7	$	(10)
Other comprehensive income (loss) before reclassifications	2		—		—		2
Amounts reclassified from accumulated other comprehensive income (loss)	—		—		(1)		(1)
Net current-period other comprehensive income (loss)	2		—		(1)		1
Balance at November 1, 2020	$	(8)	$	(7)	$	6	$	(9)

Balance at August 1, 2021	$	6	$	(4)	$	3	$	5
Other comprehensive income (loss) before reclassifications	—		2		—		2
Amounts reclassified from accumulated other comprehensive income (loss)	—		—		—		—
Net current-period other comprehensive income (loss)	—		2		—		2
Balance at October 31, 2021	$	6	$	(2)	$	3	$	7

_____________________________________

(1)Included no tax as of October 31, 2021, August 1, 2021, November 1, 2020 and August 2, 2020.

(2)Included no tax as of October 31, 2021, a tax benefit of $1 as of August 1, 2021, $2 as of November 1, 2020, and $1 as of August 2, 2020.

(3)Included tax expense of $1 as of October 31, 2021, and as of August 1, 2021, and $2 as of November 1, 2020, and as of August 2, 2020.

Amounts related to noncontrolling interests were not material.

The amounts reclassified from Accumulated other comprehensive income (loss) consisted of the following:


	Three Months Ended
Details about Accumulated Other Comprehensive Income (Loss) Components	October 31, 2021		November 1, 2020		Location of Loss (Gain) Recognized in Earnings







Losses (gains) on cash-flow hedges:
Commodity contracts	$	(1)	$	—	Cost of products sold
Foreign exchange forward contracts	1		—		Cost of products sold



Total before tax	—		—
Tax expense (benefit)	—		—
Loss (gain), net of tax	$	—	$	—

Pension and postretirement benefit adjustments:
Prior service credit	$	—	$	(1)	Other expenses / (income)
Tax expense (benefit)	—		—
Loss (gain), net of tax	$	—	$	(1)

Goodwill And Intangible Assets

3 Months Ended

Oct. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill

The following table shows the changes in the carrying amount of goodwill by business segment:


	Meals & Beverages		Snacks		Total




Net balance at August 1, 2021	$	970	$	3,011	$	3,981


Amounts reclassified due to segment change(1)	25		(25)		—

Foreign currency translation adjustment	1		—		1
Net balance at October 31, 2021	$	996	$	2,986	$	3,982

_____________________________________

(1) See Note 5 for additional information.

Intangible Assets

The following table summarizes balance sheet information for intangible assets, excluding goodwill, subject to amortization and intangible assets not subject to amortization:


	October 31, 2021						August 1, 2021
Intangible Assets	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Amortizable intangible assets
Customer relationships	$	830	$	(151)	$	679	$	830	$	(140)	$	690
Non-amortizable intangible assets
Trademarks					2,549						2,549
Total net intangible assets					$	3,228					$	3,239

As of October 31, 2021, the carrying value of indefinite-lived trademarks is detailed below:


	Various Other(1)		Snyder's of Hanover		Lance		Pace		Pacific Foods
Carrying value	$	1,007	$	620	$	350	$	292	$	280

_____________________________________

(1) Associated with the acquisition of Snyder's-Lance, Inc. (Snyder's-Lance).

Amortization of intangible assets was $11 and $10 for the three-month periods ended October 31, 2021, and November 1, 2020, respectively. As of October 31, 2021, amortizable intangible assets had a weighted-average remaining useful life of 17 years. Amortization expense for the next 5 years is estimated to be approximately $41 per year.

Segment Information

3 Months Ended

Oct. 31, 2021

Segment Reporting [Abstract]

Business and Geographic Segment Information

Segment Information

Our reportable segments are as follows:

•Meals & Beverages, which consists of our soup, simple meals and beverages products in retail and foodservice in the U.S. and Canada. The segment includes the following products: Campbell’s condensed and ready-to-serve soups; Swanson broth and stocks; Pacific Foods broth, soups and non-dairy beverages; Prego pasta sauces; Pace Mexican sauces; Campbell’s gravies, pasta, beans and dinner sauces; Swanson canned poultry; V8 juices and beverages; and Campbell’s tomato juice. The segment also includes snacking products in foodservice and Canada. The segment included our Plum baby food and snacks business, which was sold on May 3, 2021; and

•Snacks, which consists of Pepperidge Farm cookies*, crackers, fresh bakery and frozen products, including Goldfish crackers*, Snyder’s of Hanover pretzels*, Lance sandwich crackers*, Cape Cod potato chips*, Kettle Brand potato chips*, Late July snacks*, Snack Factory pretzel crisps*, Pop Secret popcorn, Emerald nuts, and other snacking products in retail in the U.S. The segment also includes the retail business in Latin America. In 2022, we now refer to the * brands as our "power brands."

Beginning in 2022, the foodservice and Canadian business formerly in our Snacks segment is now managed as part of the Meals & Beverages segment. Segment results have been adjusted retrospectively to reflect this change.

We evaluate segment performance before interest, taxes and costs associated with restructuring activities and impairment charges. Unrealized gains and losses on outstanding undesignated commodity hedging activities are excluded from segment operating earnings and are recorded in Corporate 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. Only the service cost component of pension and postretirement expense is allocated to segments. All other components of expense, including interest cost, expected return on assets, amortization of prior service credits and recognized actuarial gains and losses are reflected in Corporate and not included in segment operating results. Asset information by segment is not discretely maintained for internal reporting or used in evaluating performance.


	Three Months Ended
	October 31, 2021		November 1, 2020
Net sales
Meals & Beverages	$	1,266	$	1,363
Snacks	970		977
Total	$	2,236	$	2,340


	Three Months Ended
	October 31, 2021		November 1, 2020
Earnings before interest and taxes
Meals & Beverages	$	280	$	337
Snacks	128		135
Corporate income (expense)(1)	(32)		(10)
Restructuring charges(2)	—		(1)
Total	$	376	$	461

_______________________________________

(1)Represents unallocated items. In the three-month periods ended October 31, 2021, and November 1, 2020, there were pension actuarial losses of $6 and pension actuarial gains of $4, respectively. Costs related to the cost savings initiatives were $4 and $5 in the three-month periods ended October 31, 2021, and November 1, 2020, respectively. Unrealized mark-to-market adjustments on outstanding undesignated commodity hedges were losses of $3 and gains of $6 in the three-month periods ended October 31, 2021, and November 1, 2020, respectively.

(2)See Note 6 for additional information.


Our net sales based on product categories are as follows:	Three Months Ended
	October 31, 2021		November 1, 2020
Net sales
Soup	$	797	$	826
Snacks	1,003		1,008
Other simple meals	264		311
Beverages	172		195
Total	$	2,236	$	2,340

Soup includes various soup, broth and stock products. Snacks include cookies, pretzels, crackers, popcorn, nuts, potato chips, tortilla chips and other salty snacks and baked products. Other simple meals include sauces, gravies, pasta, beans, canned poultry, and Plum products through May 3, 2021, when the business was sold. Beverages include V8 juices and beverages, Campbell’s tomato juice and Pacific Foods non-dairy beverages.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Restructuring Charges and Cost Savings Initiatives

3 Months Ended

Oct. 31, 2021

Restructuring Charges [Abstract]

Restructuring Charges

Restructuring Charges and Cost Savings Initiatives

Multi-year Cost Savings Initiatives and Snyder's-Lance Cost Transformation Program and Integration

Beginning in fiscal 2015, we implemented initiatives to reduce costs and to streamline our organizational structure.

Over the years, we expanded these initiatives by further optimizing our supply chain and manufacturing networks, including closing our manufacturing facility in Toronto, Ontario, as well as our information technology infrastructure.

On March 26, 2018, we completed the acquisition of Snyder's-Lance. Prior to the acquisition, Snyder's-Lance launched a cost transformation program following a comprehensive review of its operations with the goal of significantly improving its financial performance. We continued to implement this program and identified opportunities for additional cost synergies as we integrated Snyder's-Lance.

A summary of the pre-tax charges recorded in Earnings from continuing operations related to these initiatives is as follows:


	Three Months Ended
		October 31, 2021		November 1, 2020		Recognized as of October 31, 2021
Restructuring charges		$	—	$	1	$	259
Administrative expenses		2		4		341
Cost of products sold		2		1		81
Marketing and selling expenses		—		—		13
Research and development expenses		—		—		4
Total pre-tax charges		$	4	$	6	$	698

A summary of the pre-tax costs in Earnings from continuing operations associated with the initiatives is as follows:


	Recognized as of October 31, 2021
Severance pay and benefits	$	222
Asset impairment/accelerated depreciation	82
Implementation costs and other related costs	394
Total	$	698

The total estimated pre-tax costs for actions associated with continuing operations are approximately $715 to $730. The majority of the remaining costs will be incurred in 2022.

We expect the costs for actions associated with continuing operations to consist of the following: approximately $225 in severance pay and benefits; approximately $85 in asset impairment and accelerated depreciation; and approximately $405 to $420 in implementation costs and other related costs. We expect these pre-tax costs to be associated with our segments as follows: Meals & Beverages - approximately 31%; Snacks - approximately 45%; and Corporate - approximately 24%.

Of the aggregate $715 to $730 of pre-tax costs associated with continuing operations, we expect approximately $615 to $630 will be cash expenditures. In addition, we expect to invest approximately $450 in capital expenditures through 2022, of which we invested $415 as of October 31, 2021. The capital expenditures primarily relate to improvement of quality, safety and cost structure across the Snyder’s-Lance manufacturing network, a U.S. warehouse optimization project, implementation of our existing SAP enterprise-resource planning system for Snyder's-Lance, transition of production of the Toronto manufacturing facility to our U.S. thermal plants, optimization of information technology infrastructure and applications, and optimization of the Snyder’s-Lance warehouse and distribution network.

A summary of the restructuring activity and related reserves associated with continuing operations at October 31, 2021, is as follows:


	Severance Pay and Benefits		Implementation Costs and Other Related Costs(2)	Total Charges
Accrued balance at August 1, 2021(1)	$	7
2022 charges	—		4	$	4
2022 cash payments	(1)

Accrued balance at October 31, 2021(1)	$	6

__________________________________

(1)Includes $1 of severance pay and benefits recorded in Other liabilities in the Consolidated Balance Sheet.

(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 and Cost of products sold in the Consolidated Statements of Earnings.

Segment operating results do not include restructuring charges, implementation costs and other related costs because we evaluate segment performance excluding such charges. A summary of the pre-tax costs in Earnings from continuing operations associated with segments is as follows:


	October 31, 2021
	Three Months Ended		Costs Incurred to Date
Meals & Beverages	$	1	$	224
Snacks	3		302
Corporate	—		172
Total	$	4	$	698

Through April 28, 2019, we incurred pre-tax charges of $23 in Earnings from discontinued operations consisting of $19 of severance pay and benefits and $4 of implementation costs and other related costs. All of the costs were cash expenditures.

Expanded Initiatives in 2022

We continue to pursue cost savings initiatives by further optimizing our supply chain and manufacturing network and through effective cost management. Cost estimates will be updated as the expanded initiatives are developed.

Earnings Per Share	3 Months Ended
Earnings Per Share	Oct. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Earnings per Share (EPS)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. The earnings per share calculation for the three-month periods ended October 31, 2021, and November 1, 2020, excludes approximately 1 million stock options that would have been antidilutive.

Pension And Postretirement Benefits

3 Months Ended

Oct. 31, 2021

Retirement Benefits [Abstract]

Pension And Postretirement Benefits

Pension and Postretirement Benefits

Components of net benefit expense (income) were as follows:


	Three Months Ended
	Pension				Postretirement
	October 31, 2021		November 1, 2020		October 31, 2021		November 1, 2020
Service cost	$	4	$	5	$	—	$	—
Interest cost	10		10		1		1
Expected return on plan assets	(30)		(31)		—		—
Amortization of prior service cost	—		—		—		(1)



Actuarial loss (gain)	6		(4)		—		—
Net periodic benefit expense (income)	$	(10)	$	(20)	$	1	$	—

The actuarial loss of $6 for the three-month period ended October 31, 2021 and the actuarial gain of $4 for the three-month period ended November 1, 2020 related to the remeasurement of a U.S. and a Canadian pension plan. These remeasurements were each due to lump sum distributions that exceeded or are expected to exceed service and interest costs resulting in settlement accounting for the plans. The actuarial loss recognized for the three-month period ended October 31, 2021 was primarily due to less than anticipated investment returns on plan assets, partially offset by an increase in the discount rates. The actuarial gain recognized for the three-month period ended November 1, 2020 was primarily due to an increase in the discount rates.

- Definition

The entire disclosure for retirement benefits.

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+ Details

Leases

3 Months Ended

Oct. 31, 2021

Leases [Abstract]

Lessee, Operating Leases

Leases

The components of lease costs were as follows:


	Three Months Ended
	October 31, 2021		November 1, 2020
Operating lease cost	$	19	$	20
Finance lease - amortization of right-of-use (ROU) assets	4		1

Short-term lease cost	13		10
Variable lease cost(1)	52		46
Sublease income	—		(1)
Total	$	88	$	76

__________________________________________

(1)Includes labor and other overhead in our service contracts with embedded leases.

The following tables summarize the lease amounts recorded in the Consolidated Balance Sheets:


	Operating Leases
	Balance Sheet Classification	October 31, 2021		August 1, 2021
ROU assets, net	Other assets	$	231	$	235
Lease liabilities (current)	Accrued liabilities	$	54	$	54
Lease liabilities (noncurrent)	Other liabilities	$	176	$	180

	Finance Leases
	Balance Sheet Classification	October 31, 2021		August 1, 2021
ROU assets, net	Plant assets, net of depreciation	$	38	$	29
Lease liabilities (current)	Short-term borrowings	$	15	$	11
Lease liabilities (noncurrent)	Long-term debt	$	24	$	19

The following table summarizes cash flow and other information related to leases:


	Three Months Ended
	October 31, 2021		November 1, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	19	$	21

Financing cash flows from finance leases	$	4	$	1

ROU assets obtained in exchange for lease obligations:
Operating leases	$	14	$	6
Finance leases	$	13	$	2

Financial Instruments

3 Months Ended

Oct. 31, 2021

General Discussion of Derivative Instruments and Hedging Activities [Abstract]

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, rate locks, 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 for hedge accounting treatment and instruments that are not designated as accounting hedges.

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 did not have credit-risk-related contingent features in our derivative instruments as of October 31, 2021, or August 1, 2021.

We are also exposed to credit risk from our customers. During 2021, our largest customer accounted for approximately 21% of consolidated net sales from continuing operations. Our five largest customers accounted for approximately 46% of our consolidated net sales from continuing operations in 2021.

We closely monitor credit risk associated with counterparties and customers.

Foreign Currency Exchange Risk

We are exposed to foreign currency exchange risk related to third-party transactions and intercompany transactions, including intercompany debt. Principal currencies hedged include the Canadian dollar. We utilize foreign exchange forward purchase and sale contracts 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 for periods consistent with the underlying debt. The notional amount of foreign exchange forward contracts accounted for as cash-flow hedges was $144 as of October 31, 2021, and $134 as of August 1, 2021. Changes in the fair value on the portion of the derivative included in the assessment of hedge effectiveness of cash-flow hedges are recorded in other comprehensive income (loss), until earnings are affected by the variability of cash flows. For derivatives that are designated and qualify as hedging instruments, the initial fair value of hedge components excluded from the assessment of effectiveness is recognized in earnings under a systematic and rational method over the life of the hedging instrument and is presented in the same statement of earnings line item as the earnings effect of the hedged item. Any difference between the change in the fair value of the hedge components excluded from the assessment of effectiveness and the amounts recognized in earnings is recorded as a component of other comprehensive income (loss). The notional amount of foreign exchange forward contracts that are not designated as accounting hedges was $18 as of October 31, 2021, and $13 as of August 1, 2021.

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. There were no interest rate swaps or treasury rate lock contracts outstanding as of October 31, 2021, or August 1, 2021.

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 wheat, soybean oil, diesel fuel, natural gas, aluminum, cocoa, soybean meal, corn and butter. 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. The notional amount of commodity contracts designated as cash-flow hedges was $19 as of October 31, 2021, and $18 as of August 1, 2021. Changes in the fair value on the portion of the derivative included in the assessment of hedge effectiveness of cash-flow hedges are recorded in other comprehensive income (loss), until earnings are affected by the variability of cash flows. The notional amount of commodity contracts not designated as accounting hedges was $174 as of October 31, 2021, and $190 as of August 1, 2021. The change in fair value on undesignated instruments is recorded in Cost of products sold.

We have a supply contract under which prices for certain raw materials are established based on anticipated volume requirements over a twelve-month period. Certain prices under the contract are based in part on certain component parts of the raw materials that are in excess of our needs or not required for our operations, thereby creating an embedded derivative requiring bifurcation. We net settle amounts due under the contract with our counterparty. The notional amount was approximately $14 as of October 31, 2021, and $38 as of August 1, 2021. The change in fair value on the embedded derivative is recorded in Cost of products sold.

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 the Vanguard Institutional Index Institutional Plus Shares and the total return of the Vanguard Total International Stock Index. Prior to 2022, we had entered into swap contracts which hedged a portion of exposures linked to the total return of our capital stock. As of October 31, 2021, and August 1, 2021, there were no swap contracts outstanding hedging our exposure linked to the total return of our capital stock. These contracts are not designated as hedges for accounting purposes. Unrealized gains (losses) and settlements are included in Administrative expenses in the Consolidated Statements of Earnings. We enter into these contracts for periods typically not exceeding 12 months. The notional amounts of the contracts were $29 as of October 31, 2021, and August 1, 2021.

The following table summarizes the fair value of derivative instruments on a gross basis as recorded in the Consolidated Balance Sheets as of October 31, 2021, and August 1, 2021:


	Balance Sheet Classification	October 31, 2021		August 1, 2021
Asset Derivatives
Derivatives designated as hedges:
Commodity contracts	Other current assets	$	7	$	4
Foreign exchange forward contracts	Other current assets	—		1




Total derivatives designated as hedges		$	7	$	5
Derivatives not designated as hedges:
Commodity contracts	Other current assets	$	47	$	49

Deferred compensation contracts	Other current assets	2		3



Total derivatives not designated as hedges		$	49	$	52
Total asset derivatives		$	56	$	57


	Balance Sheet Classification	October 31, 2021		August 1, 2021
Liability Derivatives
Derivatives designated as hedges:

Foreign exchange forward contracts	Accrued liabilities	$	2	$	3



Total derivatives designated as hedges		$	2	$	3
Derivatives not designated as hedges:
Commodity derivative contracts	Accrued liabilities	$	1	$	—


Foreign exchange forward contracts	Accrued liabilities	—		—



Total derivatives not designated as hedges		$	1	$	—
Total liability derivatives		$	3	$	3

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 October 31, 2021, and August 1, 2021, would be adjusted as detailed in the following table:


	October 31, 2021						August 1, 2021
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	$	56	$	—	$	56	$	57	$	(1)	$	56
Total liability derivatives	$	3	$	—	$	3	$	3	$	(1)	$	2

We are required to maintain cash margin accounts in connection with funding the settlement of open positions for exchange-traded commodity derivative instruments. Cash margin liability balances of $13 at October 31, 2021, and $14 at August 1, 2021, were included in Accrued liabilities in the Consolidated Balance Sheets.

The following tables show the effect of our derivative instruments designated as cash-flow hedges for the three-month periods ended October 31, 2021, and November 1, 2020, in other comprehensive income (loss) (OCI) and the Consolidated Statements of Earnings:


		Total Cash-Flow Hedge OCI Activity
Derivatives Designated as Cash-Flow Hedges		October 31, 2021		November 1, 2020
Three Months Ended
OCI derivative gain (loss) at beginning of quarter		$	(5)	$	(8)
Effective portion of changes in fair value recognized in OCI:
Commodity contracts		3		—
Foreign exchange forward contracts		—		(1)


Amount of loss (gain) reclassified from OCI to earnings:	Location in Earnings
Commodity contracts	Cost of products sold	(1)		—
Foreign exchange forward contracts	Cost of products sold	1		—



OCI derivative gain (loss) at end of quarter		$	(2)	$	(9)

Based on current valuations, the amount expected to be reclassified from OCI into earnings within the next 12 months is a gain of $4.

The following table shows the total amounts of line items presented in the Consolidated Statements of Earnings for the three-month periods ended October 31, 2021, and November 1, 2020, in which the effects of derivative instruments designated as cash-flow hedges are recorded. The total effect of hedge activity on these line items are as follows:


	Three Months Ended
	October 31, 2021		November 1, 2020
	Cost of products sold			Cost of products sold
Consolidated Statements of Earnings:	$	1,514		$	1,527

Loss (gain) on cash-flow hedges:
Amount of loss (gain) reclassified from OCI to earnings	$	—		$	—
Amount excluded from effectiveness testing recognized in earnings using an amortization approach	$	—		$	—

The following table shows the effects of our derivative instruments not designated as hedges for the three-month periods ended October 31, 2021, and November 1, 2020, in the Consolidated Statements of Earnings:


Derivatives not Designated as Hedges	Location of Loss (Gain) Recognized in Earnings	Three Months Ended
		October 31, 2021		November 1, 2020
Foreign exchange forward contracts	Cost of products sold	$	—	$	1



Commodity contracts	Cost of products sold	(9)		(2)

Deferred compensation derivative contracts	Administrative expenses	(1)		—

Total loss (gain) at end of quarter		$	(10)	$	(1)

Fair Value Measurements

3 Months Ended

Oct. 31, 2021

Fair Value Disclosures [Abstract]

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 classify 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 October 31, 2021, and August 1, 2021, consistent with the fair value hierarchy:


	Fair Value as of October 31, 2021		Fair Value Measurements at October 31, 2021 Using Fair Value Hierarchy						Fair Value as of August 1, 2021		Fair Value Measurements at August 1, 2021 Using Fair Value Hierarchy
			Level 1		Level 2		Level 3				Level 1		Level 2		Level 3
Assets


Foreign exchange forward contracts(1)	$	—	$	—	$	—	$	—	$	1	$	—	$	1	$	—
Commodity derivative contracts(2)	54		21		32		1		53		21		31		1

Deferred compensation derivative contracts(3)	2		—		2		—		3		—		3		—
Deferred compensation investments(4)	3		3		—		—		3		3		—		—
Total assets at fair value	$	59	$	24	$	34	$	1	$	60	$	24	$	35	$	1


	Fair Value as of October 31, 2021		Fair Value Measurements at October 31, 2021 Using Fair Value Hierarchy						Fair Value as of August 1, 2021		Fair Value Measurements at August 1, 2021 Using Fair Value Hierarchy
			Level 1		Level 2		Level 3				Level 1		Level 2		Level 3
Liabilities

Foreign exchange forward contracts(1)	$	2	$	—	$	2	$	—	$	3	$	—	$	3	$	—
Commodity derivative contracts(2)	1		1		—		—		—		—		—		—


Deferred compensation obligation(4)	109		109		—		—		105		105		—		—
Total liabilities at fair value	$	112	$	110	$	2	$	—	$	108	$	105	$	3	$	—

___________________________________

(1)Based on observable market transactions of spot currency rates and forward rates.

(2)Level 1 and 2 are based on quoted futures exchanges and on observable prices of futures and options transactions in the marketplace. Level 3 is based on unobservable inputs in which there is little or no market data, which requires management’s own assumptions within an internally developed model.

(3)Based on LIBOR and equity index swap rates.

(4)Based on the fair value of the participants’ investments.

Fair Value of Financial Instruments

The carrying values of cash and cash equivalents, accounts receivable and accounts payable approximate fair value.

There were $32 of cash equivalents at October 31, 2021, and none at August 1, 2021. Cash equivalents 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 short- and long-term debt was $5,518 at October 31, 2021, and $5,613 at August 1, 2021. The carrying value was $5,047 at October 31, 2021, and $5,058 at August 1, 2021. 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.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Share Repurchases	3 Months Ended
Share Repurchases	Oct. 31, 2021
Equity [Abstract]
Share Repurchases	Share Repurchases In June 2021, the Board authorized an anti-dilutive share repurchase program of up to $250 (June 2021 program) to offset the impact of dilution from shares issued under our stock compensation programs. The June 2021 program has no expiration date, but it may be suspended or discontinued at any time. Repurchases under the June 2021 program may be made in open-market or privately negotiated transactions. In September 2021, the Board approved a new strategic share repurchase program of up to $500 (September 2021 program). The September 2021 program has no expiration date, but it may be suspended or discontinued at any time. Repurchases under the September 2021 program may be made in open-market or privately negotiated transactions. The September 2021 program replaced the prior $1,500 program, which our Board approved in March 2017 and has been cancelled. During the three-month period ended October 31, 2021, we repurchased approximately 1.5 million shares at a cost of $63. Of this amount, $38 was used to repurchase shares pursuant to our June 2021 program and $25 was used to repurchase shares pursuant to our September 2021 program. As of October 31, 2021, approximately $176 remained available under the June 2021 program and approximately $475 remained available under the September 2021 program.

Stock-based Compensation

3 Months Ended

Oct. 31, 2021

Share-based Payment Arrangement [Abstract]

Stock-based Compensation

We provide compensation benefits by issuing stock options, unrestricted stock and restricted stock units (including time-lapse restricted stock units, EPS performance restricted stock units, total shareholder return (TSR) performance restricted stock units and free cash flow (FCF) performance restricted stock units). In 2022, we issued time-lapse restricted stock units, unrestricted stock, TSR performance restricted stock units and EPS performance restricted stock units. We last issued stock options and FCF performance restricted stock units in 2019.

In determining stock-based compensation expense, we estimate forfeitures expected to occur. Total pre-tax stock-based compensation expense and tax-related benefits recognized in Earnings from continuing operations were as follows:


	Three Months Ended
		October 31, 2021		November 1, 2020
Total pre-tax stock-based compensation expense		$	14	$	16
Tax-related benefits		$	2	$	3

The following table summarizes stock option activity as of October 31, 2021:


	Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life	Aggregate Intrinsic Value
	(Options in thousands)			(In years)
Outstanding at August 1, 2021	1,372	$	45.61
Granted	—	$	—
Exercised	(32)	$	36.60
Terminated	—	$	—
Outstanding at October 31, 2021	1,340	$	45.83	5.6	$	2
Exercisable at October 31, 2021	1,129	$	47.84	5.3	$	1

The total intrinsic value of options exercised during the three-month period ended October 31, 2021 was not material. No options were exercised during the three-month period ended November 1, 2020. We measured the fair value of stock options using the Black-Scholes option pricing model.

We expense stock options on a straight-line basis over the vesting period, except for awards issued to retirement eligible participants, which we expense on an accelerated basis. As of October 31, 2021, total remaining unearned compensation related to nonvested stock options was less than $1, which will be amortized over the weighted-average remaining service period of less than one year.

The following table summarizes time-lapse restricted stock units, EPS performance restricted stock units and FCF performance restricted stock units as of October 31, 2021:


	Units	Weighted-Average Grant-Date Fair Value
	(Restricted stock units in thousands)
Nonvested at August 1, 2021	1,814	$	45.63
Granted	1,393	$	41.82
Vested	(1,129)	$	43.98
Forfeited	(63)	$	45.48
Nonvested at October 31, 2021	2,015	$	43.93

We determine the fair value of time-lapse 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.

In 2022, we granted EPS performance restricted stock units that will be earned upon the achievement of our adjusted EPS compound annual growth rate goal, measured over a three-year period. The actual number of EPS performance restricted stock units issued at the vesting date could range from 0% to 200% of the initial grant depending on actual performance achieved. The fair value of EPS performance restricted stock units is based upon the quoted price of our stock at the date of grant. We expense EPS performance restricted stock units on a straight-line basis over the service period, except for awards issued to retirement-eligible participants, which we expense on an accelerated basis. We estimate expense based on the number of awards expected to vest. There were 318 thousand EPS performance target grants outstanding at October 31, 2021, with a grant-date fair value of $41.53.

In 2019, we issued approximately 388 thousand FCF performance restricted stock units for which vesting was contingent upon achievement of free cash flow (defined as Net cash provided by operating activities less capital expenditures and certain investing and financing activities) compared to annual operating plan objectives over a three-year period. An annual objective was established each fiscal year for three consecutive years. Performance against these objectives was averaged at the end of the three-year period to determine the number of underlying units that would vest at the end of the three years. The actual number of FCF performance restricted stock units issued at the vesting date could range from 0% to 200% of the initial grant depending on actual performance achieved. The fair value of FCF performance restricted stock units was based upon the quoted price of our stock at the date of grant. We expensed FCF performance restricted stock units over the requisite service period of each objective. We estimated expense based on the number of awards expected to vest. In the first quarter of 2022, recipients of FCF performance restricted stock units earned 167% of the initial grants based upon the average of actual performance achieved during a three-year period ended August 1, 2021. As a result, approximately 158 thousand additional shares were awarded. As of October 31, 2021, there were no FCF performance target grants outstanding.

As of October 31, 2021, total remaining unearned compensation related to nonvested time-lapse restricted stock units and EPS performance restricted stock units was $64, which will be amortized over the weighted-average remaining service period of 2.1 years. The fair value of restricted stock units vested during the three-month periods ended October 31, 2021, and November 1, 2020, was $48, and $34, respectively. The weighted-average grant-date fair value of the restricted stock units granted during the three-month period ended November 1, 2020 was $48.43.

The following table summarizes TSR performance restricted stock units as of October 31, 2021:


	Units	Weighted-Average Grant-Date Fair Value
	(Restricted stock units in thousands)
Nonvested at August 1, 2021	1,222	$	53.60
Granted	324	$	45.65
Vested	(178)	$	31.33
Forfeited	(113)	$	43.12
Nonvested at October 31, 2021	1,255	$	55.65

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:


	2022	2021
Risk-free interest rate	0.45%	0.15%
Expected dividend yield	3.50%	2.85%
Expected volatility	27.43%	29.99%
Expected term	3 years	3 years

We recognize compensation expense on a straight-line basis over the service period, except for awards issued to retirement eligible participants, which we expense on an accelerated basis. As of October 31, 2021, total remaining unearned compensation related to TSR performance restricted stock units was $31, which will be amortized over the weighted-average remaining service period of 1.9 years. In the first quarter of 2022, recipients of TSR performance restricted stock units earned 75% of the initial grants based upon our TSR ranking in a performance peer group during a three-year period ended July 30, 2021. In the first quarter of 2021, recipients of TSR performance restricted stock units earned 50% of the initial grants based upon our TSR ranking in a performance peer group during a three-year period ended July 31, 2020. The fair value of TSR performance restricted stock units vested during the three-month periods ended October 31, 2021 and November 1, 2020 was $8 and $11, respectively. The grant-date fair value of the TSR performance restricted stock units granted during 2021 was $54.93.

The excess tax benefits of $1 in the three-month periods ended October 31, 2021 and November 1, 2020 on the exercise of stock options and vested restricted stock were presented as cash flows from operating activities. Cash received from the exercise of stock options was $1 for the three-month period ended October 31, 2021 and is reflected in cash flows from financing activities in the Consolidated Statements of Cash Flows.

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Oct. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Regulatory and Litigation Matters We are involved in various pending or threatened legal or regulatory proceedings, including purported class actions, arising from the conduct of business both in the ordinary course and otherwise. Modern pleading practice in the U.S. permits considerable variation in the assertion of monetary damages or other relief. Jurisdictions may permit claimants not to specify the monetary damages sought or may permit claimants to state only that the amount sought is sufficient to invoke the jurisdiction of the trial court. In addition, jurisdictions may permit plaintiffs to allege monetary damages in amounts well exceeding reasonably possible verdicts in the jurisdiction for similar matters. This variability in pleadings, together with our actual experiences in litigating or resolving through settlement numerous claims over an extended period of time, demonstrates to us that the monetary relief which may be specified in a lawsuit or claim bears little relevance to its merits or disposition value. Due to the unpredictable nature of litigation, the outcome of a litigation matter and the amount or range of potential loss at particular points in time is normally difficult to ascertain. Uncertainties can include how fact finders will evaluate documentary evidence and the credibility and effectiveness of witness testimony, and how trial and appellate courts will apply the law in the context of the pleadings or evidence presented, whether by motion practice, or at trial or on appeal. Disposition valuations are also subject to the uncertainty of how opposing parties and their counsel will themselves view the relevant evidence and applicable law. On January 7, 2019, three purported shareholder class action lawsuits pending in the United States District Court for the District of New Jersey (the Court) were consolidated under the caption, In re Campbell Soup Company Securities Litigation, Civ. No. 1:18-cv-14385-NLH-JS (the Action). Oklahoma Firefighters Pension and Retirement System was appointed lead plaintiff in the Action and, on March 1, 2019, filed an amended consolidated complaint. The company, Denise Morrison (the company's former President and Chief Executive Officer), and Anthony DiSilvestro (the company's former Senior Vice President and Chief Financial Officer) are defendants in the Action. The amended consolidated complaint alleges that, in public statements between July 19, 2017 and May 17, 2018, the defendants made materially false and misleading statements and/or omitted material information about the company's business, operations, customer relationships, and prospects, specifically with regard to the Campbell Fresh segment. The amended consolidated complaint seeks unspecified monetary damages and other relief. On April 30, 2019, the defendants filed a motion to dismiss the amended consolidated complaint, which the Court granted on November 30, 2020, with leave to amend the complaint. On January 15, 2021, the plaintiff filed its second amended consolidated complaint. The second amended consolidated complaint again names as defendants the company and certain of its former officers and alleges that, in public statements between August 31, 2017 and May 17, 2018, the defendants made materially false and misleading statements and/or omitted material information about the company's business, operations, customer relationships, and prospects, specifically with regard to the Campbell Fresh segment. The second amended consolidated complaint seeks unspecified monetary damages and other relief. On March 10, 2021 the defendants filed a motion to dismiss the second amended consolidated complaint. We are vigorously defending against the Action. We establish liabilities for litigation and regulatory loss contingencies when information related to the loss contingencies shows both that it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. It is possible that some matters could require us to pay damages or make other expenditures or establish accruals in amounts that could not be reasonably estimated as of October 31, 2021. While the potential future charges could be material in a particular quarter or annual period, based on information currently known by us, we do not believe any such charges are likely to have a material adverse effect on our consolidated results of operations or financial condition. Other Contingencies We have provided certain 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 October 31, 2021.

Supplemental Financial Statement Data

3 Months Ended

Oct. 31, 2021

Disclosure Text Block Supplement [Abstract]

Supplemental Financial Information Data

Supplemental Financial Statement Data


Balance Sheets	October 31, 2021		August 1, 2021
Inventories
Raw materials, containers and supplies	$	425	$	321
Finished products	549		612
	$	974	$	933


Statements of Earnings	Three Months Ended
		October 31, 2021		November 1, 2020
Other expenses / (income)

Amortization of intangible assets		$	11	$	10

Net periodic benefit income other than the service cost		(19)		(21)
Pension actuarial losses (gains)		6		(4)



Transition services fees		—		(4)
Other		1		1
		$	(1)	$	(18)

Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Oct. 31, 2021

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 August 2, 2020	$	(10)	$	(7)	$	7	$	(10)
Other comprehensive income (loss) before reclassifications	2		—		—		2
Amounts reclassified from accumulated other comprehensive income (loss)	—		—		(1)		(1)
Net current-period other comprehensive income (loss)	2		—		(1)		1
Balance at November 1, 2020	$	(8)	$	(7)	$	6	$	(9)

Balance at August 1, 2021	$	6	$	(4)	$	3	$	5
Other comprehensive income (loss) before reclassifications	—		2		—		2
Amounts reclassified from accumulated other comprehensive income (loss)	—		—		—		—
Net current-period other comprehensive income (loss)	—		2		—		2
Balance at October 31, 2021	$	6	$	(2)	$	3	$	7

_____________________________________

(1)Included no tax as of October 31, 2021, August 1, 2021, November 1, 2020 and August 2, 2020.

(2)Included no tax as of October 31, 2021, a tax benefit of $1 as of August 1, 2021, $2 as of November 1, 2020, and $1 as of August 2, 2020.

(3)Included tax expense of $1 as of October 31, 2021, and as of August 1, 2021, and $2 as of November 1, 2020, and as of August 2, 2020.

Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]

The amounts reclassified from Accumulated other comprehensive income (loss) consisted of the following:


	Three Months Ended
Details about Accumulated Other Comprehensive Income (Loss) Components	October 31, 2021		November 1, 2020		Location of Loss (Gain) Recognized in Earnings







Losses (gains) on cash-flow hedges:
Commodity contracts	$	(1)	$	—	Cost of products sold
Foreign exchange forward contracts	1		—		Cost of products sold



Total before tax	—		—
Tax expense (benefit)	—		—
Loss (gain), net of tax	$	—	$	—

Pension and postretirement benefit adjustments:
Prior service credit	$	—	$	(1)	Other expenses / (income)
Tax expense (benefit)	—		—
Loss (gain), net of tax	$	—	$	(1)

Goodwill And Intangible Assets (Tables)

3 Months Ended

Oct. 31, 2021

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:


	Meals & Beverages		Snacks		Total




Net balance at August 1, 2021	$	970	$	3,011	$	3,981


Amounts reclassified due to segment change(1)	25		(25)		—

Foreign currency translation adjustment	1		—		1
Net balance at October 31, 2021	$	996	$	2,986	$	3,982

_____________________________________

(1) See Note 5 for additional information.

Schedule of Finite-Lived Intangible Assets [Table Text Block]

The following table summarizes balance sheet information for intangible assets, excluding goodwill, subject to amortization and intangible assets not subject to amortization:


	October 31, 2021						August 1, 2021
Intangible Assets	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Amortizable intangible assets
Customer relationships	$	830	$	(151)	$	679	$	830	$	(140)	$	690
Non-amortizable intangible assets
Trademarks					2,549						2,549
Total net intangible assets					$	3,228					$	3,239

Schedule of Indefinite-Lived Intangible Assets [Table Block]

The following table summarizes balance sheet information for intangible assets, excluding goodwill, subject to amortization and intangible assets not subject to amortization:


	October 31, 2021						August 1, 2021
Intangible Assets	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Amortizable intangible assets
Customer relationships	$	830	$	(151)	$	679	$	830	$	(140)	$	690
Non-amortizable intangible assets
Trademarks					2,549						2,549
Total net intangible assets					$	3,228					$	3,239

As of October 31, 2021, the carrying value of indefinite-lived trademarks is detailed below:


	Various Other(1)		Snyder's of Hanover		Lance		Pace		Pacific Foods
Carrying value	$	1,007	$	620	$	350	$	292	$	280

_____________________________________

(1) Associated with the acquisition of Snyder's-Lance, Inc. (Snyder's-Lance).

Segment Information (Tables)

3 Months Ended

Oct. 31, 2021

Segment Reporting [Abstract]

Schedule Of Segment Reporting [Table Text Block]


	Three Months Ended
	October 31, 2021		November 1, 2020
Net sales
Meals & Beverages	$	1,266	$	1,363
Snacks	970		977
Total	$	2,236	$	2,340


	Three Months Ended
	October 31, 2021		November 1, 2020
Earnings before interest and taxes
Meals & Beverages	$	280	$	337
Snacks	128		135
Corporate income (expense)(1)	(32)		(10)
Restructuring charges(2)	—		(1)
Total	$	376	$	461

_______________________________________

(2)See Note 6 for additional information.

Additional Product Information for Net Sales [Table Text Block]


Our net sales based on product categories are as follows:	Three Months Ended
	October 31, 2021		November 1, 2020
Net sales
Soup	$	797	$	826
Snacks	1,003		1,008
Other simple meals	264		311
Beverages	172		195
Total	$	2,236	$	2,340

Restructuring Charges and Cost Savings Initiatives (Tables) - 2015 and Snyder's-Lance Initiatives [Member]

3 Months Ended

Oct. 31, 2021

Schedule Of Pre-Tax Charge And Remaining Costs [Table Text Block]

A summary of the pre-tax charges recorded in Earnings from continuing operations related to these initiatives is as follows:


	Three Months Ended
		October 31, 2021		November 1, 2020		Recognized as of October 31, 2021
Restructuring charges		$	—	$	1	$	259
Administrative expenses		2		4		341
Cost of products sold		2		1		81
Marketing and selling expenses		—		—		13
Research and development expenses		—		—		4
Total pre-tax charges		$	4	$	6	$	698

A summary of the pre-tax costs in Earnings from continuing operations associated with the initiatives is as follows:


	Recognized as of October 31, 2021
Severance pay and benefits	$	222
Asset impairment/accelerated depreciation	82
Implementation costs and other related costs	394
Total	$	698

Schedule Of Restructuring Activity And Related Reserves [Table Text Block]

A summary of the restructuring activity and related reserves associated with continuing operations at October 31, 2021, is as follows:


	Severance Pay and Benefits		Implementation Costs and Other Related Costs(2)	Total Charges
Accrued balance at August 1, 2021(1)	$	7
2022 charges	—		4	$	4
2022 cash payments	(1)

Accrued balance at October 31, 2021(1)	$	6

__________________________________

(1)Includes $1 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 in Earnings from continuing operations associated with segments is as follows:


	October 31, 2021
	Three Months Ended		Costs Incurred to Date
Meals & Beverages	$	1	$	224
Snacks	3		302
Corporate	—		172
Total	$	4	$	698

Pension And Postretirement Benefits (Tables)

3 Months Ended

Oct. 31, 2021

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs [Table Text Block]

Components of net benefit expense (income) were as follows:


	Three Months Ended
	Pension				Postretirement
	October 31, 2021		November 1, 2020		October 31, 2021		November 1, 2020
Service cost	$	4	$	5	$	—	$	—
Interest cost	10		10		1		1
Expected return on plan assets	(30)		(31)		—		—
Amortization of prior service cost	—		—		—		(1)



Actuarial loss (gain)	6		(4)		—		—
Net periodic benefit expense (income)	$	(10)	$	(20)	$	1	$	—

Leases (Tables)

3 Months Ended

Oct. 31, 2021

Leases [Abstract]

Lease, Cost

The components of lease costs were as follows:


	Three Months Ended
	October 31, 2021		November 1, 2020
Operating lease cost	$	19	$	20
Finance lease - amortization of right-of-use (ROU) assets	4		1

Short-term lease cost	13		10
Variable lease cost(1)	52		46
Sublease income	—		(1)
Total	$	88	$	76

__________________________________________

(1)Includes labor and other overhead in our service contracts with embedded leases.

Schedule of Leases Reported in Balance Sheet

The following tables summarize the lease amounts recorded in the Consolidated Balance Sheets:


	Operating Leases
	Balance Sheet Classification	October 31, 2021		August 1, 2021
ROU assets, net	Other assets	$	231	$	235
Lease liabilities (current)	Accrued liabilities	$	54	$	54
Lease liabilities (noncurrent)	Other liabilities	$	176	$	180

	Finance Leases
	Balance Sheet Classification	October 31, 2021		August 1, 2021
ROU assets, net	Plant assets, net of depreciation	$	38	$	29
Lease liabilities (current)	Short-term borrowings	$	15	$	11
Lease liabilities (noncurrent)	Long-term debt	$	24	$	19

Schedule of Supplemental Cash Flow Information Related to Leases

The following table summarizes cash flow and other information related to leases:


	Three Months Ended
	October 31, 2021		November 1, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	19	$	21

Financing cash flows from finance leases	$	4	$	1

ROU assets obtained in exchange for lease obligations:
Operating leases	$	14	$	6
Finance leases	$	13	$	2

Financial Instruments (Tables)

3 Months Ended

Oct. 31, 2021

General Discussion of Derivative Instruments and Hedging Activities [Abstract]

Schedule Of The Fair Value Of Derivative Instruments [Table Text Block]

The following table summarizes the fair value of derivative instruments on a gross basis as recorded in the Consolidated Balance Sheets as of October 31, 2021, and August 1, 2021:


	Balance Sheet Classification	October 31, 2021		August 1, 2021
Asset Derivatives
Derivatives designated as hedges:
Commodity contracts	Other current assets	$	7	$	4
Foreign exchange forward contracts	Other current assets	—		1




Total derivatives designated as hedges		$	7	$	5
Derivatives not designated as hedges:
Commodity contracts	Other current assets	$	47	$	49

Deferred compensation contracts	Other current assets	2		3



Total derivatives not designated as hedges		$	49	$	52
Total asset derivatives		$	56	$	57


	Balance Sheet Classification	October 31, 2021		August 1, 2021
Liability Derivatives
Derivatives designated as hedges:

Foreign exchange forward contracts	Accrued liabilities	$	2	$	3



Total derivatives designated as hedges		$	2	$	3
Derivatives not designated as hedges:
Commodity derivative contracts	Accrued liabilities	$	1	$	—


Foreign exchange forward contracts	Accrued liabilities	—		—



Total derivatives not designated as hedges		$	1	$	—
Total liability derivatives		$	3	$	3

Schedule of Offsetting Assets [Table Text Block]


	October 31, 2021						August 1, 2021
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	$	56	$	—	$	56	$	57	$	(1)	$	56
Total liability derivatives	$	3	$	—	$	3	$	3	$	(1)	$	2

Schedule of Offsetting Liabilities [Table Text Block]


	October 31, 2021						August 1, 2021
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	$	56	$	—	$	56	$	57	$	(1)	$	56
Total liability derivatives	$	3	$	—	$	3	$	3	$	(1)	$	2

Schedule Of Changes In Cash-Flow Hedges In Other Comprehensive Income (Loss) [Table Text Block]


		Total Cash-Flow Hedge OCI Activity
Derivatives Designated as Cash-Flow Hedges		October 31, 2021		November 1, 2020
Three Months Ended
OCI derivative gain (loss) at beginning of quarter		$	(5)	$	(8)
Effective portion of changes in fair value recognized in OCI:
Commodity contracts		3		—
Foreign exchange forward contracts		—		(1)


Amount of loss (gain) reclassified from OCI to earnings:	Location in Earnings
Commodity contracts	Cost of products sold	(1)		—
Foreign exchange forward contracts	Cost of products sold	1		—



OCI derivative gain (loss) at end of quarter		$	(2)	$	(9)

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location


	Three Months Ended
	October 31, 2021		November 1, 2020
	Cost of products sold			Cost of products sold
Consolidated Statements of Earnings:	$	1,514		$	1,527

Loss (gain) on cash-flow hedges:
Amount of loss (gain) reclassified from OCI to earnings	$	—		$	—
Amount excluded from effectiveness testing recognized in earnings using an amortization approach	$	—		$	—

Derivatives Not Designated as Hedging Instruments [Table Text Block]


Derivatives not Designated as Hedges	Location of Loss (Gain) Recognized in Earnings	Three Months Ended
		October 31, 2021		November 1, 2020
Foreign exchange forward contracts	Cost of products sold	$	—	$	1



Commodity contracts	Cost of products sold	(9)		(2)

Deferred compensation derivative contracts	Administrative expenses	(1)		—

Total loss (gain) at end of quarter		$	(10)	$	(1)

Fair Value Measurements (Tables)

3 Months Ended

Oct. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value, Assets And Liabilities Measured on Recurring Basis [Table Text Block]


	Fair Value as of October 31, 2021		Fair Value Measurements at October 31, 2021 Using Fair Value Hierarchy						Fair Value as of August 1, 2021		Fair Value Measurements at August 1, 2021 Using Fair Value Hierarchy
			Level 1		Level 2		Level 3				Level 1		Level 2		Level 3
Assets


Foreign exchange forward contracts(1)	$	—	$	—	$	—	$	—	$	1	$	—	$	1	$	—
Commodity derivative contracts(2)	54		21		32		1		53		21		31		1

Deferred compensation derivative contracts(3)	2		—		2		—		3		—		3		—
Deferred compensation investments(4)	3		3		—		—		3		3		—		—
Total assets at fair value	$	59	$	24	$	34	$	1	$	60	$	24	$	35	$	1


	Fair Value as of October 31, 2021		Fair Value Measurements at October 31, 2021 Using Fair Value Hierarchy						Fair Value as of August 1, 2021		Fair Value Measurements at August 1, 2021 Using Fair Value Hierarchy
			Level 1		Level 2		Level 3				Level 1		Level 2		Level 3
Liabilities

Foreign exchange forward contracts(1)	$	2	$	—	$	2	$	—	$	3	$	—	$	3	$	—
Commodity derivative contracts(2)	1		1		—		—		—		—		—		—


Deferred compensation obligation(4)	109		109		—		—		105		105		—		—
Total liabilities at fair value	$	112	$	110	$	2	$	—	$	108	$	105	$	3	$	—

___________________________________

(1)Based on observable market transactions of spot currency rates and forward rates.

(3)Based on LIBOR and equity index swap rates.

(4)Based on the fair value of the participants’ investments.

Stock-based Compensation (Tables)

3 Months Ended

Oct. 31, 2021

Stock-based Compensation

Summary of Stock-based Compensation Expense [Table Text Block]

Total pre-tax stock-based compensation expense and tax-related benefits recognized in Earnings from continuing operations were as follows:


	Three Months Ended
		October 31, 2021		November 1, 2020
Total pre-tax stock-based compensation expense		$	14	$	16
Tax-related benefits		$	2	$	3

Share-based Payment Arrangement, Option [Member]

Stock-based Compensation

Schedule Of Stock Option Activity [Table Text Block]

The following table summarizes stock option activity as of October 31, 2021:


	Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life	Aggregate Intrinsic Value
	(Options in thousands)			(In years)
Outstanding at August 1, 2021	1,372	$	45.61
Granted	—	$	—
Exercised	(32)	$	36.60
Terminated	—	$	—
Outstanding at October 31, 2021	1,340	$	45.83	5.6	$	2
Exercisable at October 31, 2021	1,129	$	47.84	5.3	$	1

Time Lapse, EPS Performance, And FCF Performance Restricted Stock Units [Member]

Stock-based Compensation

Time-Lapse Restricted Stock Units, EPS Performance Restricted Stock Units and FCF Performance Restricted Stock Units[Table Text Block]

The following table summarizes time-lapse restricted stock units, EPS performance restricted stock units and FCF performance restricted stock units as of October 31, 2021:


	Units	Weighted-Average Grant-Date Fair Value
	(Restricted stock units in thousands)
Nonvested at August 1, 2021	1,814	$	45.63
Granted	1,393	$	41.82
Vested	(1,129)	$	43.98
Forfeited	(63)	$	45.48
Nonvested at October 31, 2021	2,015	$	43.93

TSR Performance Restricted Stock/Units [Member]

Stock-based Compensation

TSR Performance Restricted Stock Units [Table Text Block]

The following table summarizes TSR performance restricted stock units as of October 31, 2021:


	Units	Weighted-Average Grant-Date Fair Value
	(Restricted stock units in thousands)
Nonvested at August 1, 2021	1,222	$	53.60
Granted	324	$	45.65
Vested	(178)	$	31.33
Forfeited	(113)	$	43.12
Nonvested at October 31, 2021	1,255	$	55.65

Schedule Of Share Based Payment Award Valuation Assumptions [Table Text Block]

Assumptions used in the Monte Carlo simulation were as follows:


	2022	2021
Risk-free interest rate	0.45%	0.15%
Expected dividend yield	3.50%	2.85%
Expected volatility	27.43%	29.99%
Expected term	3 years	3 years

Supplemental Financial Statement Data (Tables)

3 Months Ended

Oct. 31, 2021

Disclosure Text Block Supplement [Abstract]

Supplemental Balance Sheet Data


Balance Sheets	October 31, 2021		August 1, 2021
Inventories
Raw materials, containers and supplies	$	425	$	321
Finished products	549		612
	$	974	$	933

Supplemental Statements of Earnings Data


Statements of Earnings	Three Months Ended
		October 31, 2021		November 1, 2020
Other expenses / (income)

Amortization of intangible assets		$	11	$	10

Net periodic benefit income other than the service cost		(19)		(21)
Pension actuarial losses (gains)		6		(4)



Transition services fees		—		(4)
Other		1		1
		$	(1)	$	(18)

Accumulated Other Comprehensive Income (Loss) (Components Of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($)
$ in Millions

3 Months Ended

Oct. 31, 2021

Nov. 01, 2020

Aug. 01, 2021

Aug. 02, 2020

Beginning Balance

$ 5

Other comprehensive income (loss), after-tax

$ (1)

Ending Balance

Accumulated Other Comprehensive Income Foreign Currency Translation Tax (Benefit) Expense

$ 0

Accumulated Other Comprehensive Income Cashflow Hedges Tax (Benefit) Expense

(2)

(1)

Accumulated Other Comprehensive Income Unamortized Pension And Post Retirement Tax (Benefit) Expense

$ 1

$ 2

Accumulated Translation Adjustment [Member]

Beginning Balance

^[1]

(10)

Other Comprehensive Income (Loss) Before Reclassifications Net Of Tax

Other Comprehensive Income Reclassifications Current Period Net of Tax

Other comprehensive income (loss), after-tax

Ending Balance

^[1]

(8)

Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]

Beginning Balance

^[2]

(4)

(7)

Other Comprehensive Income (Loss) Before Reclassifications Net Of Tax

Other Comprehensive Income Reclassifications Current Period Net of Tax

Other comprehensive income (loss), after-tax

Ending Balance

^[2]

(2)

(7)

Accumulated Defined Benefit Plans Adjustment [Member]

Beginning Balance

^[3]

Other Comprehensive Income (Loss) Before Reclassifications Net Of Tax

Other Comprehensive Income Reclassifications Current Period Net of Tax

(1)

Other comprehensive income (loss), after-tax

(1)

Ending Balance

^[3]

Accumulated Other Comprehensive Income (Loss) [Member]

Beginning Balance

(10)

Other Comprehensive Income (Loss) Before Reclassifications Net Of Tax

Other Comprehensive Income Reclassifications Current Period Net of Tax

(1)

Other comprehensive income (loss), after-tax

Ending Balance

$ 7

$ (9)

[1]	Included no tax as of October 31, 2021, August 1, 2021, November 1, 2020 and August 2, 2020.
[2]	Included no tax as of October 31, 2021, a tax benefit of $1 as of August 1, 2021, $2 as of November 1, 2020, and $1 as of August 2, 2020.
[3]	Included tax expense of $1 as of October 31, 2021, and as of August 1, 2021, and $2 as of November 1, 2020, and as of August 2, 2020.

Accumulated Other Comprehensive Income (Loss) (Schecule of amounts reclassified from AOCI) (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2021	Nov. 01, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cost of products sold	$ 1,514	$ 1,527
Other expenses / (income)	(1)	(18)
Taxes on earnings	68	97
Net Income (Loss) Attributable to Parent	261	309
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cost of products sold	0	0
Earnings before taxes	0	0
Taxes on earnings	0	0
Net Income (Loss) Attributable to Parent	0	0
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member] \| Commodity Derivative Contracts [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cost of products sold	(1)	0
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member] \| Foreign Exchange Contract [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cost of products sold	1	0
Accumulated Defined Benefit Plans Adjustment, Net Prior Service Attributable to Parent [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other expenses / (income)	0	(1)
Taxes on earnings	0	0
Net Income (Loss) Attributable to Parent	$ 0	$ 1

Goodwill And Intangible Assets (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2021	Nov. 01, 2020
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 11	$ 10
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	41
Finite-Lived Intangible Assets, Amortization Expense, Year Two	41
Finite Lived Intangible Assets, Amortization Expense, Year Three	41
Finite Lived Intangible Assets, Amortization Expense, Year Four	41
Finite Lived Intangible Assets, Amortization Expense, Year Five	$ 41
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	17 years

Goodwill And Intangible Assets (Goodwill) (Details)
$ in Millions

3 Months Ended

Oct. 31, 2021

USD ($)

Goodwill [Line Items]

Beginning Balance

$ 3,981

Goodwill, Other Increase (Decrease)

^[1]

Foreign currency translation adjustment

Ending Balance

3,982

Meals & Beverages [Member]

Goodwill [Line Items]

Beginning Balance

970

Goodwill, Other Increase (Decrease)

^[1]

Foreign currency translation adjustment

Ending Balance

996

Snacks [Member]

Goodwill [Line Items]

Beginning Balance

3,011

Goodwill, Other Increase (Decrease)

(25)

^[1]

Foreign currency translation adjustment

Ending Balance

$ 2,986

[1]	See Note 5 for additional information.

Goodwill And Intangible Assets (Intangible Assets) (Details) - USD ($) $ in Millions	Oct. 31, 2021	Aug. 01, 2021
Finite-Lived Intangible Assets [Line Items]
Other intangible assets, net of amortization	$ 3,228	$ 3,239
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived Intangible Assets (Excluding Goodwill)	2,549	2,549
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	830	830
Finite-Lived Intangible Assets, Accumulated Amortization	(151)	(140)
Finite-Lived Intangible Assets, Net	$ 679	$ 690

Goodwill And Intangible Assets (Indefinite Lived Intangibles (Details)
$ in Millions

Oct. 31, 2021

USD ($)

Trade Names - Other

Acquired Indefinite-lived Intangible Assets [Line Items]

Indefinite-lived Intangible Assets (Excluding Goodwill)

$ 1,007

^[1]

Trade Name - Snyder's of Hanover [Member]

Acquired Indefinite-lived Intangible Assets [Line Items]

Indefinite-lived Intangible Assets (Excluding Goodwill)

620

Trade Names - Lance

Acquired Indefinite-lived Intangible Assets [Line Items]

Indefinite-lived Intangible Assets (Excluding Goodwill)

350

Trade Names - Pace [Member]

Acquired Indefinite-lived Intangible Assets [Line Items]

Indefinite-lived Intangible Assets (Excluding Goodwill)

292

Trade Name - Pacific Foods [Member]

Acquired Indefinite-lived Intangible Assets [Line Items]

Indefinite-lived Intangible Assets (Excluding Goodwill)

$ 280

[1]	Associated with the acquisition of Snyder's-Lance, Inc. (Snyder's-Lance).

Segment Information (Schedule Of Segment Reporting - Net Sales) (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2021	Nov. 01, 2020
Segment Reporting Information [Line Items]
Net sales	$ 2,236	$ 2,340
Meals & Beverages [Member]
Segment Reporting Information [Line Items]
Net sales	1,266	1,363
Snacks [Member]
Segment Reporting Information [Line Items]
Net sales	$ 970	$ 977

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

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-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 22: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

+ Details

Segment Information (Schedule Of Segment Reporting - Earnings Before Interest And Taxes) (Details) - USD ($)
$ in Millions

3 Months Ended

Oct. 31, 2021

Nov. 01, 2020

Segment Reporting Information [Line Items]

Earnings before interest and taxes

$ 376

$ 461

Defined Benefit Plan, Actuarial Gain (Loss)

(6)

Meals & Beverages [Member]

Segment Reporting Information [Line Items]

Earnings before interest and taxes

280

337

Snacks [Member]

Segment Reporting Information [Line Items]

Earnings before interest and taxes

128

135

Corporate

Segment Reporting Information [Line Items]

Earnings before interest and taxes

^[1]

(32)

(10)

Defined Benefit Plan, Actuarial Gain (Loss)

(6)

Restructuring and Related Cost, Incurred Cost

(4)

(5)

Unrealized Gain (Loss) on Commodity Contracts

(3)

Corporate | Restructuring Charges [Member]

Segment Reporting Information [Line Items]

Earnings before interest and taxes

^[2]

$ 0

$ (1)

[1]

Represents unallocated items. In the three-month periods ended October 31, 2021, and November 1, 2020, there were pension actuarial losses of $6 and pension actuarial gains of $4, respectively. Costs related to the cost savings initiatives were $4 and $5 in the three-month periods ended October 31, 2021, and November 1, 2020, respectively. Unrealized mark-to-market adjustments on outstanding undesignated commodity hedges were losses of $3 and gains of $6 in the three-month periods ended October 31, 2021, and November 1, 2020, respectively.

[2]

See Note 6 for additional information.

Segment Information (Additional Product Information For Net Sales) (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2021	Nov. 01, 2020
Segment Reporting Information [Line Items]
Net sales	$ 2,236	$ 2,340
Soup [Member]
Segment Reporting Information [Line Items]
Net sales	797	826
Snacks [Member]
Segment Reporting Information [Line Items]
Net sales	1,003	1,008
Other Simple Meals [Member]
Segment Reporting Information [Line Items]
Net sales	264	311
Beverages [Member]
Segment Reporting Information [Line Items]
Net sales	$ 172	$ 195

- Definition

+ References

+ Details

Restructuring Charges and Cost Savings Initiatives (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Jul. 31, 2022
Restructuring Cost and Reserve [Line Items]
Purchases of plant assets	$ 69	$ 74
2015 and Snyder's-Lance Initiatives [Member]
Restructuring Cost and Reserve [Line Items]
Purchases of plant assets	415
Restructuring and Related Cost, Cost Incurred to Date	698
2015 and Snyder's-Lance Initiatives [Member] \| Discontinued Operations, Held-for-sale or Disposed of by Sale [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	$ 23
2015 and Snyder's-Lance Initiatives [Member] \| Meals & Beverages [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Allocation	31.00%
Restructuring and Related Cost, Cost Incurred to Date	$ 224
2015 and Snyder's-Lance Initiatives [Member] \| Snacks [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Allocation	45.00%
Restructuring and Related Cost, Cost Incurred to Date	$ 302
2015 and Snyder's-Lance Initiatives [Member] \| Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Allocation	24.00%
Restructuring and Related Cost, Cost Incurred to Date	$ 172
2015 and Snyder's-Lance Initiatives [Member] \| Forecast [Member]
Restructuring Cost and Reserve [Line Items]
Purchases of plant assets			$ 450
2015 and Snyder's-Lance Initiatives [Member] \| Severance Pay And Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	225
Restructuring and Related Cost, Cost Incurred to Date	222
2015 and Snyder's-Lance Initiatives [Member] \| Severance Pay And Benefits [Member] \| Discontinued Operations, Held-for-sale or Disposed of by Sale [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	19
2015 and Snyder's-Lance Initiatives [Member] \| Asset Impairment Accelerated Depreciation [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	85
Restructuring and Related Cost, Cost Incurred to Date	82
2015 and Snyder's-Lance Initiatives [Member] \| Implementation Costs and Other Related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	394
2015 and Snyder's-Lance Initiatives [Member] \| Implementation Costs and Other Related Costs [Member] \| Discontinued Operations, Held-for-sale or Disposed of by Sale [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	4
2015 and Snyder's-Lance Initiatives [Member] \| Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	715
Effect on Future Cash Flows, Amount	615
2015 and Snyder's-Lance Initiatives [Member] \| Minimum [Member] \| Implementation Costs and Other Related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	405
2015 and Snyder's-Lance Initiatives [Member] \| Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	730
Effect on Future Cash Flows, Amount	630
2015 and Snyder's-Lance Initiatives [Member] \| Maximum [Member] \| Implementation Costs and Other Related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	$ 420

Restructuring Charges and Cost Savings Initiatives (Schedule Of Pre-Tax Charges) (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2021	Nov. 01, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 0	$ 1
2015 and Snyder's-Lance Initiatives [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	1
Restructuring and Related Cost, Incurred Cost	4	6
Restructuring and Related Cost, Cost Incurred to Date	698
2015 and Snyder's-Lance Initiatives [Member] \| Severance Pay And Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0
Restructuring and Related Cost, Cost Incurred to Date	222
2015 and Snyder's-Lance Initiatives [Member] \| Asset Impairment Accelerated Depreciation [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	82
2015 and Snyder's-Lance Initiatives [Member] \| Implementation Costs and Other Related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	394
2015 and Snyder's-Lance Initiatives [Member] \| Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	259
2015 and Snyder's-Lance Initiatives [Member] \| General and Administrative Expense [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	2	4
Restructuring and Related Cost, Cost Incurred to Date	341
2015 and Snyder's-Lance Initiatives [Member] \| Cost Of Products Sold [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	2	1
Restructuring and Related Cost, Cost Incurred to Date	81
2015 and Snyder's-Lance Initiatives [Member] \| Selling and Marketing Expense [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0	0
Restructuring and Related Cost, Cost Incurred to Date	13
2015 and Snyder's-Lance Initiatives [Member] \| Research and Development Expense [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0	$ 0
Restructuring and Related Cost, Cost Incurred to Date	$ 4

Restructuring Charges and Cost Savings Initiatives (Schedule Of Restructuring Activity And Related Reserves) (Details) - 2015 and Snyder's-Lance Initiatives [Member] - USD ($)
$ in Millions

3 Months Ended

Oct. 31, 2021

Nov. 01, 2020

Aug. 01, 2021

Restructuring Reserve [Roll Forward]

Restructuring and Related Cost, Incurred Cost

$ 4

$ 6

Severance Pay And Benefits [Member]

Restructuring Reserve [Roll Forward]

Accrued Balance at beginning of period

^[1]

Restructuring and Related Cost, Incurred Cost

Cash Payments

(1)

Accrued Balance at end of period

^[1]

Restructuring Reserve, Noncurrent

$ 1

Other Cost Savings Implementation Costs [Member]

Restructuring Reserve [Roll Forward]

Restructuring and Related Cost, Incurred Cost

^[2]

$ 4

[1]	Includes $1 of severance pay and benefits recorded in Other liabilities in the Consolidated Balance Sheet.
[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 and Cost of products sold in the Consolidated Statements of Earnings.

Restructuring Charges and Cost Savings Initiatives (Schedule Of Restructuring Charges Associated With Each Reportable Segment) (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2021	Nov. 01, 2020
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	$ 4	$ 5
2015 and Snyder's-Lance Initiatives [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	698
Restructuring and Related Cost, Incurred Cost	4	$ 6
2015 and Snyder's-Lance Initiatives [Member] \| Meals & Beverages [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	224
Restructuring and Related Cost, Incurred Cost	1
2015 and Snyder's-Lance Initiatives [Member] \| Snacks [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	302
Restructuring and Related Cost, Incurred Cost	3
2015 and Snyder's-Lance Initiatives [Member] \| Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	172
Restructuring and Related Cost, Incurred Cost	$ 0

Earnings Per Share (Narrative) (Details) - shares shares in Millions	3 Months Ended
	Oct. 31, 2021	Nov. 01, 2020
Share-based Payment Arrangement, Option [Member]
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	1	1

Pension And Postretirement Benefits (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2021	Nov. 01, 2020
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Actuarial Gain (Loss)	$ (6)	$ 4
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Actuarial Gain (Loss)	$ (6)	$ 4

Pension And Postretirement Benefits (Schedule Of Components of Benefit Expense) (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2021	Nov. 01, 2020
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Actuarial Gain (Loss)	$ (6)	$ 4
Pension Plan, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost	4	5
Defined Benefit Plan, Interest Cost	10	10
Expected return on plan assets	(30)	(31)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	0	0
Defined Benefit Plan, Actuarial Gain (Loss)	(6)	4
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	(10)	(20)
Other Postretirement Benefit Plans, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost	0	0
Defined Benefit Plan, Interest Cost	1	1
Expected return on plan assets	0	0
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	0	(1)
Defined Benefit Plan, Actuarial Gain (Loss)	0	0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	$ 1	$ 0

Leases (Costs) (Details) - USD ($)
$ in Millions

3 Months Ended

Oct. 31, 2021

Nov. 01, 2020

Operating Lease, Cost

$ 19

$ 20

Finance lease, amortization of right-of-use assets

Short-term Lease, Cost

Variable Lease, Cost

^[1]

Sublease Income

(1)

Lease, Cost, Total

$ 88

$ 76

[1]	Includes labor and other overhead in our service contracts with embedded leases.

Leases (Reported in Balance Sheet) (Details) - USD ($) $ in Millions	Oct. 31, 2021	Aug. 01, 2021
Other Assets [Member]
Operating Lease, Right-of-Use Asset	$ 231	$ 235
Accrued Liabilities [Member]
Operating Lease, Liability, Current	54	54
Other Liabilities [Member]
Operating Lease, Liability, Noncurrent	176	180
Property, Plant and Equipment [Member]
Finance Lease, Right-of-Use Asset	38	29
Short-term Debt [Member]
Finance Lease, Liability, Current	15	11
Long-term Debt [Member]
Finance Lease, Liability, Noncurrent	$ 24	$ 19

Leases (Supplemental Cash Flow Information) (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2021	Nov. 01, 2020
Leases [Abstract]
Operating Lease, Payments	$ 19	$ 21
Finance Lease, Principal Payments	4	1
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	14	6
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	$ 13	$ 2

Financial Instruments (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Oct. 31, 2021	Jan. 31, 2021	Aug. 01, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	$ 4
Accrued Liabilities [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Margin Deposit Liabilities	$ (13)		$ (14)
Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Contracts Mature Within, Months	18 months
Interest Rate Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Notional Amount	$ 0		0
Commodity Derivative Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Maximum Length of Contract Maturity	18 months
Deferred Compensation Derivative Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Maximum Length of Contract Maturity	12 months
Derivatives Designated As Hedges [Member] \| Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Notional Amount	$ 144		134
Derivatives Designated As Hedges [Member] \| Commodity Derivative Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Notional Amount	19		18
Derivatives Not Designated As Hedges [Member] \| Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Notional Amount	18		13
Derivatives Not Designated As Hedges [Member] \| Commodity Derivative Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Notional Amount	174		190
Derivatives Not Designated As Hedges [Member] \| Embedded Derivative Financial Instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Notional Amount	14		38
Derivatives Not Designated As Hedges [Member] \| Deferred Compensation Derivative Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Notional Amount	$ 29		$ 29
Wal-Mart Stores, Inc. [Member] \| Customer Concentration Risk [Member] \| Revenue Benchmark [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Concentration Risk, Percentage		21.00%
Top Five Customers [Member] \| Customer Concentration Risk [Member] \| Revenue Benchmark [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Concentration Risk, Percentage		46.00%

Financial Instruments (Schedule Of The Fair Value Of Derivative Instruments) (Details) - USD ($) $ in Millions	Oct. 31, 2021	Aug. 01, 2021
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 56	$ 57
Derivative Liability, Fair Value, Gross Liability	3	3
Derivatives Designated As Hedges [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	7	5
Derivative Liability, Fair Value, Gross Liability	2	3
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	0	1
Derivatives Designated As Hedges [Member] \| Foreign Exchange Forward Contracts [Member] \| Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	2	3
Derivatives Designated As Hedges [Member] \| Commodity Derivative Contracts [Member] \| Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	7	4
Derivatives Not Designated As Hedges [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	49	52
Derivative Liability, Fair Value, Gross Liability	1	0
Derivatives Not Designated As Hedges [Member] \| Foreign Exchange Forward Contracts [Member] \| Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	0	0
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	2	3
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	47	49
Derivatives Not Designated As Hedges [Member] \| Commodity Derivative Contracts [Member] \| Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	$ 1	$ 0

Financial Instruments (Offsetting Assets and Liabilities) (Details) - USD ($) $ in Millions	Oct. 31, 2021	Aug. 01, 2021
General Discussion of Derivative Instruments and Hedging Activities [Abstract]
Derivative Assets	$ 56	$ 57
Derivative Asset, Not Offset, Policy Election Deduction	0	(1)
Derivative Asset, Fair Value, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election, Total	56	56
Derivative Liability	3	3
Derivative Liability, Not Offset, Policy Election Deduction	0	(1)
Derivative Liability, Fair Value, Amount Offset Against Collateral	$ 3	$ 2

Financial Instruments (Schedule Of Changes In Cash Flow Hedges In Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2021	Nov. 01, 2020
Derivative Instruments, Gain (Loss) [Line Items]
OCI before tax accumulated derivative gain (loss) beginning of period	$ (5)	$ (8)
OCI before tax accumulated derivative gain (loss) end of period	(2)	(9)
Commodity Derivative Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
OCI, before Reclassifications, before Tax, Attributable to Parent	3	0
Commodity Derivative Contracts [Member] \| Cost Of Products Sold [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	(1)	0
Foreign Exchange Forward
Derivative Instruments, Gain (Loss) [Line Items]
OCI, before Reclassifications, before Tax, Attributable to Parent	0	(1)
Foreign Exchange Forward \| Cost Of Products Sold [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	$ 1	$ 0

Financial Instruments (Schedule of Cash Flow Hedges in Statements of Earnings) (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2021	Nov. 01, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Cost of products sold	$ 1,514	$ 1,527
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] \| Cost Of Products Sold [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) from Components Excluded from Assessment of Cash Flow Hedge Effectiveness, Net	0	0
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Cost of products sold	$ 0	$ 0

Financial Instruments (Derivatives Not Designated As Hedges) (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2021	Nov. 01, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (Gain) or Loss Recognized in Earnings on Derivatives	$ (10)	$ (1)
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	0	1
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	(9)	(2)
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	$ (1)	$ 0

Fair Value Measurements Fair Value Measurements Narrative (Details) - USD ($) $ in Millions	Oct. 31, 2021	Aug. 01, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, Fair Value Disclosure	$ 32	$ 0
Debt, Long-term and Short-term, Combined Amount	5,047	5,058
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, at Carrying Value	32	0
Debt Instrument, Fair Value Disclosure	$ 5,518	$ 5,613

Fair Value Measurements (Fair Value Measurement Of Assets And Liabilities) (Details) - USD ($)
$ in Millions

Oct. 31, 2021

Aug. 01, 2021

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Derivative assets at fair value

$ 56

$ 57

Derivatives liabilities at fair value

Measured On Recurring Basis [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Total assets at fair value

Total liabilities at fair value

112

108

Measured On Recurring Basis [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

Total liabilities at fair value

110

105

Measured On Recurring Basis [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

Total liabilities at fair value

Measured On Recurring Basis [Member] | Fair Value, Inputs, Level 3 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Total assets at fair value

Measured On Recurring Basis [Member] | Foreign Exchange Forward Contracts [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Derivative assets at fair value

^[1]

Derivatives liabilities at fair value

^[1]

Measured On Recurring Basis [Member] | Foreign Exchange Forward Contracts [Member] | Fair Value, Inputs, Level 2 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Derivative assets at fair value

^[1]

Derivatives liabilities at fair value

^[1]

Measured On Recurring Basis [Member] | Commodity Derivative Contracts [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Derivative assets at fair value

^[2]

Derivatives liabilities at fair value

^[2]

Measured On Recurring Basis [Member] | Commodity Derivative Contracts [Member] | Fair Value, Inputs, Level 1 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Derivative assets at fair value

^[2]

Derivatives liabilities at fair value

^[2]

Measured On Recurring Basis [Member] | Commodity Derivative Contracts [Member] | Fair Value, Inputs, Level 2 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Derivative assets at fair value

^[2]

Measured On Recurring Basis [Member] | Commodity Derivative Contracts [Member] | Fair Value, Inputs, Level 3 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Derivative assets at fair value

^[2]

Measured On Recurring Basis [Member] | Deferred Compensation Derivative Contracts [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Derivative assets at fair value

^[3]

Measured On Recurring Basis [Member] | Deferred Compensation Derivative Contracts [Member] | Fair Value, Inputs, Level 2 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Derivative assets at fair value

^[3]

Measured On Recurring Basis [Member] | Deferred Compensation Investment [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Investments at fair value

^[4]

Measured On Recurring Basis [Member] | Deferred Compensation Investment [Member] | Fair Value, Inputs, Level 1 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Investments at fair value

^[4]

Measured On Recurring Basis [Member] | Deferred Compensation Obligation [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Deferred compensation obligation

^[4]

109

105

Measured On Recurring Basis [Member] | Deferred Compensation Obligation [Member] | Fair Value, Inputs, Level 1 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Deferred compensation obligation

^[4]

$ 109

$ 105

[1]	Based on observable market transactions of spot currency rates and forward rates.
[2]	Level 1 and 2 are based on quoted futures exchanges and on observable prices of futures and options transactions in the marketplace. Level 3 is based on unobservable inputs in which there is little or no market data, which requires management’s own assumptions within an internally developed model.
[3]	Based on LIBOR and equity index swap rates.
[4]	Based on the fair value of the participants’ investments.

Share Repurchases (Narrative) (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Oct. 31, 2021	Nov. 01, 2020
Statement [Line Items]
Shares repurchased, value	$ 63	$ 0
Capital Stock In Treasury [Member]
Statement [Line Items]
Treasury stock purchased, Shares	1.5	0.0
Shares repurchased, value	$ 63	$ 0
June 2021 Program
Statement [Line Items]
Authorized amount for shares repurchase	250
Stock Repurchase Program, Remaining Authorized Repurchase Amount	176
June 2021 Program \| Capital Stock In Treasury [Member]
Statement [Line Items]
Shares repurchased, value	38
September 2021 Program
Statement [Line Items]
Authorized amount for shares repurchase	500
Stock Repurchase Program, Remaining Authorized Repurchase Amount	475
September 2021 Program \| Capital Stock In Treasury [Member]
Statement [Line Items]
Shares repurchased, value	25
March 2017 Program - Canceled September 2021
Statement [Line Items]
Authorized amount for shares repurchase	$ 1,500

Stock-based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		12 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Jul. 28, 2019	Aug. 01, 2021
Stock-based Compensation
Excess Tax Benefit/(Deficiency) from Share-based Compensation, Operating Activities	$ 1	$ 1
Cash received from the exercise of stock options	1	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	0	0
Share-based Payment Arrangement, Option [Member] \| Maximum [Member]
Stock-based Compensation
Remaining unearned compensation on nonvested awards	$ 1
Weighted-average remaining service period, years	1 year
EPS Performance Restricted Stock Units [Member]
Stock-based Compensation
Nonvested, Units	318
Nonvested, Weighted-Average Grant-Date Fair Value	$ 41.53
EPS Performance Restricted Stock Units [Member] \| Minimum [Member]
Stock-based Compensation
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	0.00%
EPS Performance Restricted Stock Units [Member] \| Maximum [Member]
Stock-based Compensation
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	200.00%
FCF Performance Restricted Stock Units [Member]
Stock-based Compensation
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	167.00%
Share Based Compensation Arrangements By Share Based Payment Award Equity Instruments Other than Options Issued in Period			388
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Nonvested, Units	0
FCF Performance Restricted Stock Units [Member] \| Minimum [Member]
Stock-based Compensation
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	0.00%
FCF Performance Restricted Stock Units [Member] \| Maximum [Member]
Stock-based Compensation
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	200.00%
FCF Performance Restricted Stock Units Additional Shares [Member]
Stock-based Compensation
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	158
Time Lapse, EPS Performance, And FCF Performance Restricted Stock Units [Member]
Stock-based Compensation
Remaining unearned compensation on nonvested awards	$ 64
Weighted-average remaining service period, years	2 years 1 month 6 days
Nonvested, Units	2,015			1,814
Fair value of restricted units and shares vested	$ 48	$ 34
Granted, Weighted-Average Grant-Date Fair Value	$ 41.82	$ 48.43
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	1,393
Nonvested, Weighted-Average Grant-Date Fair Value	$ 43.93			$ 45.63
TSR Performance Restricted Stock/Units [Member]
Stock-based Compensation
Remaining unearned compensation on nonvested awards	$ 31
Weighted-average remaining service period, years	1 year 10 months 24 days
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	75.00%	50.00%
Nonvested, Units	1,255			1,222
Fair value of restricted units and shares vested	$ 8	$ 11
Granted, Weighted-Average Grant-Date Fair Value	$ 45.65	$ 54.93
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	324
Nonvested, Weighted-Average Grant-Date Fair Value	$ 55.65			$ 53.60

Stock-based Compensation (Summary of Stock-based Compensation Expense) (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2021	Nov. 01, 2020
Share-based Payment Arrangement [Abstract]
Total pre-tax stock-based compensation expense	$ 14	$ 16
Tax-related benefits	$ 2	$ 3

Stock-based Compensation (Schedule Of Stock Option Activity) (Details) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Oct. 31, 2021 USD ($) $ / shares shares
Share-based Payment Arrangement [Abstract]
Beginning of period, Options \| shares	1,372
Granted, Options \| shares	0
Exercised, Options \| shares	(32)
Terminated, Options \| shares	0
End of period, Options \| shares	1,340
Exercisable at end of period, Options \| shares	1,129
Beginning of period, Weighted-Average Exercise Price \| $ / shares	$ 45.61
Granted, Weighted-Average Exercise Price \| $ / shares	0
Exercised, Weighted-Average Exercise Price \| $ / shares	36.60
Terminated, Weighted-Average Exercise Price \| $ / shares	0
End of period, Weighted-Average Exercise Price \| $ / shares	45.83
Exercisable at end of period, Weighted-Average Exercise Price \| $ / shares	$ 47.84
Outstanding at end of period, Weighted-Average Remaining Contractual Life (In years)	5 years 7 months 6 days
Exercisable at end of period, Weighted-Average Remaining Contractual Life (In years)	5 years 3 months 18 days
Outstanding at end of period, Aggregate Intrinsic Value \| $	$ 2
Exercisable at end of period, Aggregate Intrinsic Value \| $	$ 1

Stock-based Compensation (Time-Lapse Restricted Stock Units, EPS Performance Restricted Stock Units. FCF Performance Restricted Stock Units, And TSR Performance Restricted Stock Units) (Details) - $ / shares shares in Thousands	3 Months Ended
	Oct. 31, 2021	Nov. 01, 2020
Time Lapse, EPS Performance, And FCF Performance Restricted Stock Units [Member]
Stock-based Compensation
Nonvested at beginning of period, Units	1,814
Granted, Units	1,393
Vested, Units	(1,129)
Forfeited, Units	(63)
Nonvested at end of period, Units	2,015
Nonvested at beginning of period, Weighted-Average Grant-Date Fair Value	$ 45.63
Granted, Weighted-Average Grant-Date Fair Value	41.82	$ 48.43
Vested, Weighted-Average Grant-Date Fair Value	43.98
Forfeited, Weighted Average Grant Date Fair Value	45.48
Nonvested at end of period, Weighted-Average Grant-Date Fair Value	$ 43.93
TSR Performance Restricted Stock/Units [Member]
Stock-based Compensation
Nonvested at beginning of period, Units	1,222
Granted, Units	324
Vested, Units	(178)
Forfeited, Units	(113)
Nonvested at end of period, Units	1,255
Nonvested at beginning of period, Weighted-Average Grant-Date Fair Value	$ 53.60
Granted, Weighted-Average Grant-Date Fair Value	45.65	$ 54.93
Vested, Weighted-Average Grant-Date Fair Value	31.33
Forfeited, Weighted Average Grant Date Fair Value	43.12
Nonvested at end of period, Weighted-Average Grant-Date Fair Value	$ 55.65

Stock-based Compensation (Valuation Assumptions) (Details) - TSR Performance Restricted Stock/Units [Member]	3 Months Ended
	Oct. 31, 2021	Nov. 01, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	0.45%	0.15%
Expected dividend yield	3.50%	2.85%
Expected volatility	27.43%	29.99%
Expected term, years	3 years	3 years

Supplemental Financial Statement Data (Schedule of Balance Sheets) (Details) - USD ($) $ in Millions	Oct. 31, 2021	Aug. 01, 2021
Inventory, Net [Abstract]
Inventory, raw materials, containers and supplies	$ 425	$ 321
Inventory, finished products	549	612
Inventories	$ 974	$ 933

Supplemental Financial Statement Data (Schedule of Statement of Earnings) (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2021	Nov. 01, 2020
Disclosure Text Block Supplement [Abstract]
Amortization of Intangible Assets	$ 11	$ 10
Net periodic benefits income, other than the service cost	(19)	(21)
Defined Benefit Plan, Actuarial (Gain) Loss	6	(4)
Transition services fees	0	(4)
Other expenses / (income)	(1)	(18)
Other	$ 1	$ 1