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Financial Instruments (Tables)
 3 Months Ended
Nov. 02, 2014
General Discussion of Derivative Instruments and Hedging Activities [Abstract]  
Schedule Of The Fair Value Of Derivative Instruments
The following table summarizes the fair value of derivative instruments on a gross basis as recorded in the Consolidated Balance Sheets as of November 2, 2014 and August 3, 2014:
 
Balance Sheet Classification
 
November 2,
2014
 
August 3,
2014
Asset Derivatives
 
 
 
 
 
Derivatives designated as hedges:
 
 
 
 
 
Foreign exchange forward contracts
Other current assets
 
$
2

 
$
1

Forward starting interest rate swaps
Other current assets
 
3

 
11

Forward starting interest rate swaps
Other assets
 
2

 
—

Total derivatives designated as hedges
 
 
$
7

 
$
12

Derivatives not designated as hedges:
 
 
 
 
 
Commodity derivative contracts
Other current assets
 
$
1

 
$
2

Cross-currency swap contracts
Other current assets
 
1

 
—

Deferred compensation derivative contracts
Other current assets
 
1

 
—

Foreign exchange forward contracts
Other current assets
 
1

 
1

Cross-currency swap contracts
Other assets
 
7

 
—

Total derivatives not designated as hedges
 
 
$
11

 
$
3

Total asset derivatives
 
 
$
18

 
$
15

 
Balance Sheet Classification
 
November 2,
2014
 
August 3,
2014
Liability Derivatives
 
 
 
 
 
Derivatives designated as hedges:
 
 
 
 
 
Foreign exchange forward contracts
Accrued liabilities
 
$
—

 
$
1

Total derivatives designated as hedges
 
 
$
—

 
$
1

Derivatives not designated as hedges:
 
 
 
 
 
Commodity derivative contracts
Accrued liabilities
 
$
13

 
$
10

Cross-currency swap contracts
Accrued liabilities
 
—

 
1

Deferred compensation derivative contracts
Accrued liabilities
 
—

 
3

Foreign exchange forward contracts
Accrued liabilities
 
3

 
2

Commodity derivative contracts
Other liabilities
 
—

 
1

Cross-currency swap contracts
Other liabilities
 
—

 
5

Total derivatives not designated as hedges
 
 
$
16

 
$
22

Total liability derivatives
 
 
$
16

 
$
23
Offsetting Assets and Liabilities
We do not offset the fair values of derivative assets and liabilities executed with the same counterparty that are generally subject to enforceable netting agreements. However, if we were to offset and record the asset and liability balances of derivatives on a net basis, the amounts presented in the Consolidated Balance Sheets as of November 2, 2014 and August 3, 2014 would be adjusted as detailed in the following table:
 
 
November 2, 2014
 
August 3, 2014
Derivative Instrument
 
Gross Amounts Presented in the Consolidated Balance Sheet
 
Gross Amounts Not Offset in the Consolidated Balance Sheet Subject to Netting Agreements
 
Net Amount
 
Gross Amounts Presented in the Consolidated Balance Sheet
 
Gross Amounts Not Offset in the Consolidated Balance Sheet Subject to Netting Agreements
 
Net Amount
Total asset derivatives
 
$
18

 
$
(1
)
 
$
17

 
$
15

 
$
(4
)
 
$
11

 
 
 
 
 
 

 
 
 
 
 

Total liability derivatives
 
$
16

 
$
(1
)
 
$
15

 
$
23

 
$
(4
)
 
$
19
Schedule Of Changes In Cash-Flow Hedges In Other Comprehensive Income (Loss)
The following tables show the effect of our derivative instruments designated as cash-flow hedges for the three-month periods ended November 2, 2014, and October 27, 2013, in other comprehensive income (loss) (OCI) and the Consolidated Statements of Earnings:
  
 
 
Total
Cash-Flow Hedge
OCI Activity
Derivatives Designated as Cash-Flow Hedges
 
 
November 2,
2014
 
October 27,
2013
Three Months Ended
 
 
 
 
 
OCI derivative gain (loss) at beginning of year
 
 
$
(4
)
 
$
8

Effective portion of changes in fair value recognized in OCI:
 
 
 
 
 
Foreign exchange forward contracts
 
 
3

 
1

Forward starting interest rate swaps
 
 
(4
)
 
(4
)
Amount of (gain) loss reclassified from OCI to earnings:
Location in Earnings
 
 
 
 
Foreign exchange forward contracts
Cost of products sold
 
—

 
(1
)
Forward starting interest rate swaps
Interest expense
 
1

 
1

OCI derivative gain (loss) at end of quarter
 
 
$
(4
)
 
$
5
Derivatives Designated As Fair-Value Hedges
The following table shows the effect of our derivative instruments designated as fair-value hedges in the Consolidated Statements of Earnings:
 
 
 
 
Amount of
Gain (Loss)
Recognized in Earnings
on Derivatives
 
Amount of
Gain (Loss)
Recognized in Earnings
on Hedged Item
Derivatives Designated as Fair-Value Hedges
 
Location of Gain (Loss)
Recognized in Earnings
 
November 2,
2014
 
October 27,
2013
 
November 2,
2014
 
October 27,
2013
Three Months Ended
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
 
Interest expense
 
$
—

 
$
(1
)
 
$
—

 
$
1
Derivatives Not Designated As Hedges
The following table shows the effects of our derivative instruments not designated as hedges in the Consolidated Statements of Earnings:
 
 
 
 
Amount of
Gain (Loss)
Recognized in Earnings
on Derivatives
Derivatives not Designated as Hedges
 
Location of Gain (Loss)
Recognized in Earnings
 
Three Months Ended
 
 
November 2, 2014
 
October 27, 2013
Foreign exchange forward contracts
 
Cost of products sold
 
$
1

 
$
2

Foreign exchange forward contracts
 
Other expenses/income
 
—

 
(14
)
Cross-currency swap contracts
 
Other expenses/income
 
14

 
(3
)
Commodity derivative contracts
 
Cost of products sold
 
(5
)
 
(2
)
Deferred compensation derivative contracts
 
Administrative expenses
 
2

 
(1
)
Total
 
 
 
$
12

 
$
(18
)