XML 44 R28.htm IDEA: XBRL DOCUMENT v3.5.0.2
Fair Value Measurements (Tables)
3 Months Ended
Oct. 30, 2016
Fair Value Disclosures [Abstract]  
Fair Value, Assets And Liabilities Measured on Recurring Basis [Table Text Block]
The following table presents our financial assets and liabilities that are measured at fair value on a recurring basis as of October 30, 2016, and July 31, 2016, consistent with the fair value hierarchy:
 
Fair Value
as of
October 30,
2016
 
Fair Value Measurements at
October 30, 2016 Using
Fair Value Hierarchy
 
Fair Value
as of
July 31,
2016
 
Fair Value Measurements at
July 31, 2016 Using
Fair Value Hierarchy
 
Level 1
 
Level 2
 
Level 3
 
Level 1
 
Level 2
 
Level 3
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange forward contracts(1)
$
1

 
$

 
$
1

 
$

 
$
1

 
$

 
$
1

 
$

Commodity derivative contracts(2)
5

 
4

 
1

 

 
3

 
2

 
1

 

Deferred compensation derivative contracts(3)

 

 

 

 
1

 

 
1

 

Fair value option investments (4)
38

 

 
7

 
31

 
33

 

 
8

 
25

Total assets at fair value
$
44

 
$
4

 
$
9

 
$
31

 
$
38

 
$
2

 
$
11

 
$
25

 
Fair Value
as of
October 30,
2016
 
Fair Value Measurements at
October 30, 2016 Using
Fair Value Hierarchy
 
Fair Value
as of
July 31,
2016
 
Fair Value Measurements at
July 31, 2016 Using
Fair Value Hierarchy
 
 
Level 1
 
Level 2
 
Level 3
 
 
Level 1
 
Level 2
 
Level 3
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Forward starting interest rate swaps(5)
$
34

 
$

 
$
34

 
$

 
$
44

 
$

 
$
44

 
$

Foreign exchange forward contracts(1)
5

 

 
5

 

 
11

 

 
11

 

Commodity derivative contracts(2)
3

 
3

 

 

 
4

 
4

 

 

Deferred compensation derivative contracts(3)

 

 

 

 
1

 

 
1

 

Deferred compensation obligation(6)
119

 
119

 

 

 
119

 
119

 

 

Total liabilities at fair value
$
161

 
$
122

 
$
39

 
$

 
$
179

 
$
123

 
$
56

 
$

___________________________________ 
(1) 
Based on observable market transactions of spot currency rates and forward rates.
(2) 
Based on quoted futures exchanges and on observable prices of futures and options transactions in the marketplace.
(3) 
Based on LIBOR and equity index swap rates.
(4) 
Primarily represents investments in equity securities that are not readily marketable and are accounted for under the fair value option. The investments were funded by Acre. See Note 10 for additional information. Fair value is based on analyzing recent transactions and transactions of comparable companies, and the discounted cash flow method. In addition, allocation methods, including the option pricing method, are used in distributing fair value among various equity holders according to rights and preferences. Changes in the fair value of investments were not material through October 30, 2016.
(5) 
Based on LIBOR swap rates.
(6) 
Based on the fair value of the participants’ investments.