Earnings Per Share

12 Months Ended

Jul. 29, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Earnings per Share

The accounting guidance for earnings per share provides that unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and shall be included in the computation of earnings per share pursuant to the two-class method. The two-class method is an earnings allocation formula that determines earnings per share for each class of common stock and participating security according to dividends declared and participation rights in undistributed earnings.

The computation of basic and diluted earnings per share attributable to common shareowners is as follows:

	2012			2011			2010
Net earnings attributable to Campbell Soup Company	$	774		$	805		$	844
Less: net earnings allocated to participating securities	(5		)	(9		)	(14		)
Net earnings available to Campbell Soup Company common shareowners	$	769		$	796		$	830
Weighted average shares outstanding — basic	317			326			340
Effect of dilutive securities: stock options and other share-based payment awards	2			3			3
Weighted average shares outstanding — diluted	319			329			343
Net earnings attributable to Campbell Soup Company per common share:
Basic	$	2.43		$	2.44		$	2.44
Diluted	$	2.41		$	2.42		$	2.42

There were no antidilutive stock options in 2012 or 2011. Stock options to purchase less than 1 million shares of capital stock in 2010 were not included in the calculation of diluted earnings per share because the exercise price of the stock options exceeded the average market price of the capital stock and, therefore, would be antidilutive.