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Business And Geographic Segment Information
 12 Months Ended
Aug. 02, 2020
Segment Reporting [Abstract]  
Business and Geographic Segment Information Business and Geographic Segment Information
Our reportable segments are as follows:
•Meals & Beverages, which includes the retail and foodservice businesses in the U.S. and Canada. The segment includes the following products: Campbell’s condensed and ready-to-serve soups; Swanson broth and stocks; Pacific Foods broth, soups and non-dairy beverages; Prego pasta sauces; Pace Mexican sauces; Campbell’s gravies, pasta, beans and dinner sauces; Swanson canned poultry; Plum baby food and snacks; V8 juices and beverages; and Campbell’s tomato juice; and
•Snacks, which consists of Pepperidge Farm cookies, crackers, fresh bakery and frozen products in U.S. retail, including Milano cookies and Goldfish crackers; and Snyder’s of Hanover pretzels, Lance sandwich crackers, Cape Cod and Kettle Brand potato chips, Late July snacks, Snack Factory Pretzel Crisps, Pop Secret popcorn, Emerald nuts, and other snacking products in the U.S. and Canada. The segment includes the retail business in Latin America. The segment also includes the results of our European chips business, which was sold on October 11, 2019.
Through the fourth quarter of 2019, our retail business in Latin America was managed as part of the Meals & Beverages segment. Beginning in 2020, it is managed as part of the Snacks segment. Segment results have been adjusted retrospectively to reflect this change.
We evaluate segment performance before interest, taxes and costs associated with restructuring activities and impairment charges. Unrealized gains and losses on commodity hedging activities are excluded from segment operating earnings and are recorded in Corporate as these open positions represent hedges of future purchases. Upon closing of the contracts, the realized gain or loss is transferred to segment operating earnings, which allows the segments to reflect the economic effects of the hedge
without exposure to quarterly volatility of unrealized gains and losses. Only the service cost component of pension and postretirement expense is allocated to segments. All other components of expense, including interest cost, expected return on assets, amortization of prior service credits and recognized actuarial gains and losses are reflected in Corporate and not included in segment operating results. Asset information by segment is not discretely maintained for internal reporting or used in evaluating performance. Therefore, only geographic segment asset information is provided.
Our largest customer, Wal-Mart Stores, Inc. and its affiliates, accounted for approximately 21% of consolidated net sales from continuing operations in 2020, 20% in 2019, and 22% in 2018. The Kroger Co. and its affiliates accounted for approximately 9% of consolidated net sales from continuing operations in 2020 and 2019, and 10% in 2018. Both of our reportable segments sold products to Wal-Mart Stores, Inc. or its affiliates and The Kroger Co. or its affiliates.

202020192018
Net sales
Meals & Beverages$4,646 $4,252 $4,233 
Snacks4,045 3,854 2,379 
Corporate— 1 3 
Total$8,691 $8,107 $6,615 

202020192018
Earnings before interest and taxes
Meals & Beverages$983 $895 $979 
Snacks551 522 392 
Corporate(1)
(418)(407)(306)
Restructuring charges(2)
(9)(31)(55)
Total$1,107 $979 $1,010 

202020192018
Depreciation and amortization
Meals & Beverages$134 $162 $158 
Snacks175 184 102 
Corporate(3)
19 17 19 
Discontinued operations(4)
— 83 115 
Total$328 $446 $394 

202020192018
Capital expenditures
Meals & Beverages$52 $156 $187 
Snacks153 134 91 
Corporate(3)
64 35 41 
Discontinued operations30 59 88 
Total$299 $384 $407 
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(1)Represents unallocated items. Pension and postretirement benefit settlement and mark-to-market adjustments are included in Corporate. There were settlement charges of $43 and losses of $121 in 2020, settlement charges of $28 and losses of $122 in 2019, and gains of $131 in 2018, respectively. A loss of $45 on Acre Venture Partners, L.P. (Acre) was included in 2020. See Note 16 for additional information on Acre. A loss of $64 on the sale of our European chips business was included in 2020. Costs related to the cost savings initiatives were $60, $90 and $135 in 2020, 2019 and 2018, respectively. Transaction and integration costs associated with the acquisition of Snyder's-Lance were $107 in 2018. Intangible asset impairment charges were $16 in 2019 and $54 in 2018. A charge of $22 related to the settlement of a legal claim was included in 2018.
(2)See Note 8 for additional information.
(3)Represents primarily corporate offices and enterprise-wide information technology systems.
(4)Depreciation and amortization are no longer recognized once businesses are classified as held for sale/discontinued operations.
Our global net sales based on product categories are as follows:
202020192018
Net sales
Soup$2,653 $2,368 $2,355 
Snacks4,099 3,918 2,438 
Other simple meals1,184 1,082 1,108 
Beverages755 738 711 
Other— 1 3 
Total$8,691 $8,107 $6,615 
Soup includes various soup, broths and stock products. Snacks include cookies, pretzels, crackers, popcorn, nuts, potato chips, tortilla chips and other salty snacks and baked products. Other simple meals include sauces and Plum products.
Geographic Area Information
Information about continuing operations in different geographic areas is as follows:
202020192018
Net sales
United States$8,165 $7,492 $6,068 
Other countries526 615 547 
Total$8,691 $8,107 $6,615 

202020192018
Long-lived assets
United States$2,361 $2,400 $2,363 
Other countries7 55 103 
Total$2,368 $2,455 $2,466