Financial Instruments (Tables)

12 Months Ended

Jul. 28, 2013

General Discussion of Derivative Instruments and Hedging Activities [Abstract]

Schedule Of The Fair Value Of Derivative Instruments

The following table summarizes the fair value of derivative instruments recorded in the Consolidated Balance Sheets as of July 28, 2013, and July 29, 2012:

	Balance Sheet Classification	2013		2012
Asset Derivatives
Derivatives designated as hedges:
Foreign exchange forward contracts	Other current assets	$	2	$	1
Forward starting interest rate swaps	Other current assets	—		1
Interest rate swaps	Other current assets	1		4
Forward starting interest rate swaps	Other assets	23		1
Interest rate swaps	Other assets	—		9
Total derivatives designated as hedges		$	26	$	16
Derivatives not designated as hedges:
Commodity derivative contracts	Other current assets	$	2	$	8
Cross-currency swap contracts	Other current assets	—		19
Deferred compensation derivative contracts	Other current assets	2		1
Foreign exchange forward contracts	Other current assets	2		1
Total derivatives not designated as hedges		6		29
Total asset derivatives		$	32	$	45

	Balance Sheet Classification	2013		2012
Liability Derivatives
Derivatives designated as hedges:
Cross-currency swap contracts	Accrued liabilities	$	22	$	—
Foreign exchange forward contracts	Accrued liabilities	2		—
Cross-currency swap contracts	Other liabilities	—		25
Total derivatives designated as hedges		$	24	$	25
Derivatives not designated as hedges:
Commodity derivative contracts	Accrued liabilities	$	6	$	4
Cross-currency swap contracts	Accrued liabilities	1		25
Foreign exchange forward contracts	Accrued liabilities	4		—
Cross-currency swap contracts	Other liabilities	1		29
Total derivatives not designated as hedges		$	12	$	58
Total liability derivatives		$	36	$	83

Schedule Of Changes In Cash-Flow Hedges In Other Comprehensive Income (Loss)

The following table shows the effect of the company’s derivative instruments designated as cash-flow hedges for the years ended July 28, 2013 and July 29, 2012, in other comprehensive income (loss) (OCI) and the Consolidated Statements of Earnings:

Derivatives Designated as Cash-Flow Hedges

		Total Cash-Flow Hedge OCI Activity
		2013			2012
OCI derivative gain (loss) at beginning of year		$	(16	)	$	(31	)
Effective portion of changes in fair value recognized in OCI:
Foreign exchange forward contracts		—			13
Cross-currency swap contracts		1			—
Forward starting interest rate swaps		19			2
Amount of (gain) loss reclassified from OCI to earnings:	Location in Earnings
Foreign exchange forward contracts	Cost of products sold	1			(1		)
Foreign exchange forward contracts	Other expenses/income	(1		)	(2		)
Forward starting interest rate swaps	Interest expense	4			3
OCI derivative gain (loss) at end of quarter		$	8		$	(16	)

Derivatives Designated As Fair-Value Hedges

The following table shows the effect of the company’s derivative instruments designated as fair-value hedges in the Consolidated Statements of Earnings:

		Amount of Gain (Loss) Recognized in Earnings on Derivatives				Amount of Gain (Loss) Recognized in Earnings on Hedged Item
Derivatives Designated as Fair-Value Hedges	Location of Gain (Loss) Recognized in Earnings	2013		2012		2013	2012
Interest rate swaps	Interest expense	(12	)	(20	)	12	20

Derivatives Not Designated As Hedges

The following table shows the effects of the company’s derivative instruments not designated as hedges in the Consolidated Statements of Earnings:

		Amount of Gain (Loss) Recognized in Earnings on Derivatives
Derivatives not Designated as Hedges	Location of Gain (Loss) Recognized in Earnings	2013			2012
Foreign exchange forward contracts	Cost of products sold	$	—		$	2
Cross-currency swap contracts	Other expenses/income	39			67
Commodity derivative contracts	Cost of products sold	(6		)	(4		)
Deferred compensation derivative contracts	Administrative expenses	16			3
Total		$	49		$	68