Basis of Presentation and Significant Accounting Policies (Tables)

6 Months Ended

Jan. 31, 2016

Accounting Policies [Abstract]

Changes in Accounting Policies [Table Text Block]

The impacts of the changes in policy to the consolidated financial statements are summarized below:

	Three months ended January 31, 2016							Three months ended February 1, 2015
Consolidated Statements of Earnings	Prior Accounting Principles		Effect of Accounting Change			As Reported		Previously Reported		Effect of Accounting Change			Recast
Cost of products sold	$	1,404	$	(22	)	$	1,382	$	1,506	$	(15	)	$	1,491
Marketing and selling expenses	233		(10		)	223		242		(3		)	239
Administrative expenses	154		(8		)	146		140		(5		)	135
Research and development expenses	26		(3		)	23		27		(2		)	25
Earnings before interest and taxes	371		43			414		312		25			337
Earnings before taxes	344		43			387		287		25			312
Taxes on earnings	108		14			122		80		10			90
Net earnings	236		29			265		207		15			222
Net earnings attributable to Campbell Soup Company	$	236	$	29		$	265	$	207	$	15		$	222
Earnings per share — Basic	$	.76	$	.09		$	.85	$	.66	$	.05		$	.71
Earnings per share — Diluted	$	.76	$	.09		$	.85	$	.66	$	.05		$	.71

	Six months ended January 31, 2016							Six months ended February 1, 2015
Consolidated Statements of Earnings	Prior Accounting Principles		Effect of Accounting Change			As Reported		Previously Reported		Effect of Accounting Change			Recast
Cost of products sold	$	2,816	$	14		$	2,830	$	2,978	$	(27	)	$	2,951
Marketing and selling expenses	449		—			449		489		(7		)	482
Administrative expenses	303		(1		)	302		275		(9		)	266
Research and development expenses	55		—			55		56		(3		)	53
Earnings before interest and taxes	742		(13		)	729		680		46			726
Earnings before taxes	687		(13		)	674		630		46			676
Taxes on earnings	218		(3		)	215		189		17			206
Net earnings	469		(10		)	459		441		29			470
Net earnings attributable to Campbell Soup Company	$	469	$	(10	)	$	459	$	441	$	29		$	470
Earnings per share - Basic	$	1.51	$	(.03	)	$	1.48	$	1.41	$	.09		$	1.50
Earnings per share - Diluted (1)	$	1.50	$	(.03	)	$	1.47	$	1.40	$	.09		$	1.50

^{________________________________________________________} 

⁽¹⁾ The sum of the individual per share amounts may not add due to rounding.

	Three months ended January 31, 2016									Three months ended February 1, 2015
Consolidated Statements of Comprehensive Income	Prior Accounting Principles			Effect of Accounting Change			As Reported			Previously Reported			Effect of Accounting Change			Recast
Foreign currency translation:
Foreign currency translation adjustments	$	(17	)	$	—		$	(17	)	$	(167	)	$	10		$	(157	)
Pension and other postretirement benefits:
Net actuarial gain (loss) arising during the period	23			(23		)	—			13			(13		)	—
Reclassification of net actuarial loss included in net earnings	32			(32		)	—			24			(24		)	—
Tax benefit / (expense)	$	(20	)	$	20		$	—		$	(12	)	$	12		$	—

	Six months ended January 31, 2016									Six months ended February 1, 2015
Consolidated Statements of Comprehensive Income	Prior Accounting Principles			Effect of Accounting Change			As Reported			Previously Reported			Effect of Accounting Change			Recast
Foreign currency translation:
Foreign currency translation adjustments	$	(43	)	$	—		$	(43	)	$	(250	)	$	12		$	(238	)
Pension and other postretirement benefits:
Net actuarial gain (loss) arising during the period	(113		)	113			—			17			(17		)	—
Reclassification of net actuarial loss included in net earnings	109			(109		)	—			48			(48		)	—
Tax benefit / (expense)	$	2		$	(2	)	$	—		$	(22	)	$	22		$	—

	January 31, 2016									August 2, 2015
Consolidated Balance Sheets	Prior Accounting Principles			Effect of Accounting Change			As Reported			Previously Reported			Effect of Accounting Change			Recast
Inventories	$	862		$	(7	)	$	855		$	993		$	2		$	995
Other current assets	199			2			201			199			(1		)	198
Accrued income taxes	73			2			75			29			—			29
Earnings retained in the business	2,767			(750		)	2,017			2,494			(740		)	1,754
Accumulated other comprehensive (loss) income	$	(966	)	$	743		$	(223	)	$	(909	)	$	741		$	(168	)

	Six months ended January 31, 2016									Six months ended February 1, 2015
Consolidated Statements of Cash Flows	Prior Accounting Principles			Effect of Accounting Change			As Reported			Previously Reported			Effect of Accounting Change			Recast
Cash flow from operating activities:
Net earnings	$	469		$	(10	)	$	459		$	441		$	29		$	470
Pension and postretirement benefit expense / (income)	—			109			109			—			(12		)	(12		)
Deferred income taxes	(9		)	(5		)	(14		)	1			17			18
Other, net	109			(105		)	4			46			(36		)	10
Inventories	124			9			133			71			2			73
Accounts payable and accrued liabilities	(32		)	2			(30		)	(16		)	—			(16		)
Net cash provided by operating activities	$	727		$	—		$	727		$	584		$	—		$	584