XML 36 R29.htm IDEA: XBRL DOCUMENT v3.3.1.900
Financial Instruments (Tables)
 3 Months Ended
Nov. 01, 2015
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 November 1, 2015, and August 2, 2015:
 
Balance Sheet Classification
 
November 1,
2015
 
August 2,
2015
Asset Derivatives
 
 
 
 
 
Derivatives designated as hedges:
 
 
 
 
 
Foreign exchange forward contracts
Other current assets
 
$
2

 
$
3

Total derivatives designated as hedges
 
 
$
2

 
$
3

Derivatives not designated as hedges:
 
 
 
 
 
Commodity derivative contracts
Other current assets
 
$
2

 
$
1

Cross-currency swap contracts
Other current assets
 
18

 
18

Deferred compensation derivative contracts
Other current assets
 
1

 
1

Foreign exchange forward contracts
Other current assets
 
5

 
9

Cross-currency swap contracts
Other assets
 
22

 
22

Total derivatives not designated as hedges
 
 
$
48

 
$
51

Total asset derivatives
 
 
$
50

 
$
54

 
Balance Sheet Classification
 
November 1,
2015
 
August 2,
2015
Liability Derivatives
 
 
 
 
 
Derivatives designated as hedges:
 
 
 
 
 
Forward starting interest rate swaps
Other liabilities
 
$
16

 
$
8

Total derivatives designated as hedges
 
 
$
16

 
$
8

Derivatives not designated as hedges:
 
 
 
 
 
Commodity derivative contracts
Accrued liabilities
 
$
9

 
$
10

Foreign exchange forward contracts
Accrued liabilities
 
1

 
2

Total derivatives not designated as hedges
 
 
$
10

 
$
12

Total liability derivatives
 
 
$
26

 
$
20
Offsetting Assets and Liabilities [Table Text Block]
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 1, 2015, and August 2, 2015, would be adjusted as detailed in the following table:
 
 
November 1, 2015
 
August 2, 2015
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
 
$
50

 
$
(20
)
 
$
30

 
$
54

 
$
(13
)
 
$
41

Total liability derivatives
 
$
26

 
$
(20
)
 
$
6

 
$
20

 
$
(13
)
 
$
7
Schedule Of Changes In Cash-Flow Hedges In Other Comprehensive Income (Loss) [Table Text Block]
The following tables show the effect of our derivative instruments designated as cash-flow hedges for the three months ended November 1, 2015, and November 2, 2014, in other comprehensive income (loss) (OCI) and the Consolidated Statements of Earnings:
Derivatives Designated as Cash-Flow Hedges
 
 
Total
Cash-Flow
Hedge
OCI Activity
Three Months Ended
 
 
November 1,
2015
 
November 2,
2014
OCI derivative gain (loss) at beginning of year
 
 
$
(10
)
 
$
(4
)
Effective portion of changes in fair value recognized in OCI:
 
 
 
 
 
Foreign exchange forward contracts
 
 
—

 
3

Forward starting interest rate swaps
 
 
(8
)
 
(4
)
Amount of (gain) loss reclassified from OCI to earnings:
Location in Earnings
 
 
 
 
Foreign exchange forward contracts
Cost of products sold
 
(2
)
 
—

Foreign exchange forward contracts
Other expenses / (income)
 
(1
)
 
—

Forward starting interest rate swaps
Interest expense
 
1

 
1

OCI derivative gain (loss) at end of quarter
 
 
$
(20
)
 
$
(4
)
Derivatives Not Designated As Hedges [Table Text Block]
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 1, 2015
 
November 2, 2014
Foreign exchange forward contracts
 
Cost of products sold
 
$
—

 
$
1

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

 
14

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

 
2

Total
 
 
 
$
(2
)
 
$
12