Basis of Presentation and Significant Accounting Policies (Tables)

9 Months Ended

May. 01, 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 May 1, 2016							Three months ended May 3, 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	$	1,195	$	15		$	1,210	$	1,218	$	—		$	1,218
Marketing and selling expenses	223		5			228		213		—			213
Administrative expenses	151		3			154		141		1			142
Research and development expenses	30		1			31		29		1			30
Earnings before interest and taxes	292		(24		)	268		287		(2		)	285
Earnings before taxes	264		(24		)	240		259		(2		)	257
Taxes on earnings	63		(8		)	55		77		1			78
Net earnings	201		(16		)	185		182		(3		)	179
Net earnings attributable to Campbell Soup Company	$	201	$	(16	)	$	185	$	182	$	(3	)	$	179
Earnings per share — Basic	$	.65	$	(.05	)	$	.60	$	.59	$	(.01	)	$	.58
Earnings per share — Diluted (1)	$	.65	$	(.05	)	$	.59	$	.58	$	(.01	)	$	.57

	Nine months ended May 1, 2016							Nine months ended May 3, 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	$	4,011	$	29		$	4,040	$	4,196	$	(27	)	$	4,169
Marketing and selling expenses	672		5			677		702		(7		)	695
Administrative expenses	454		2			456		416		(8		)	408
Research and development expenses	85		1			86		85		(2		)	83
Earnings before interest and taxes	1,034		(37		)	997		967		44			1,011
Earnings before taxes	951		(37		)	914		889		44			933
Taxes on earnings	281		(11		)	270		266		18			284
Net earnings	670		(26		)	644		623		26			649
Net earnings attributable to Campbell Soup Company	$	670	$	(26	)	$	644	$	623	$	26		$	649
Earnings per share - Basic (1)	$	2.17	$	(.08	)	$	2.08	$	1.99	$	.08		$	2.07
Earnings per share - Diluted (1)	$	2.15	$	(.08	)	$	2.07	$	1.98	$	.08		$	2.07

^{________________________________________________________} 

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

	Three months ended May 1, 2016								Three months ended May 3, 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	$	101		$	—		$	101	$	12		$	(3	)	$	9
Pension and other postretirement benefits:
Net actuarial gain (loss) arising during the period	(68		)	68			—		(4		)	4			—
Reclassification of net actuarial loss included in net earnings	35			(35		)	—		24			(24		)	—
Tax benefit / (expense)	$	12		$	(12	)	$	—	$	(7	)	$	7		$	—

	Nine months ended May 1, 2016								Nine months ended May 3, 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	$	58		$	—		$	58	$	(238	)	$	9		$	(229	)
Pension and other postretirement benefits:
Net actuarial gain (loss) arising during the period	(181		)	181			—		13			(13		)	—
Reclassification of net actuarial loss included in net earnings	144			(144		)	—		72			(72		)	—
Tax benefit / (expense)	$	14		$	(14	)	$	—	$	(29	)	$	29		$	—

	May 1, 2016									August 2, 2015
Consolidated Balance Sheets	Prior Accounting Principles			Effect of Accounting Change			As Reported			Previously Reported			Effect of Accounting Change			Recast
Inventories	$	827		$	2		$	829		$	993		$	2		$	995
Other current assets	183			(1		)	182			199			(1		)	198
Accrued income taxes	51			3			54			29			—			29
Earnings retained in the business	2,871			(766		)	2,105			2,494			(740		)	1,754
Accumulated other comprehensive (loss) income	$	(908	)	$	764		$	(144	)	$	(909	)	$	741		$	(168	)

	Nine months ended May 1, 2016									Nine months ended May 3, 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	$	670		$	(26	)	$	644		$	623		$	26		$	649
Pension and postretirement benefit expense / (income)	—			167			167			—			9			9
Deferred income taxes	18			(14		)	4			12			16			28
Other, net	132			(130		)	2			69			(54		)	15
Inventories	172			—			172			108			1			109
Accounts payable and accrued liabilities	(90		)	3			(87		)	(112		)	2			(110		)
Net cash provided by operating activities	$	1,183		$	—		$	1,183		$	971		$	—		$	971