Supplemental Financial Statement Data

12 Months Ended

Aug. 02, 2020

Disclosure Text Block Supplement [Abstract]

Supplemental Financial Information Data

Supplemental Financial Statement Data

Balance Sheets

	2020		2019
Accounts receivable
Customer accounts receivable	$	544	$	538
Allowances	(14)		(13)
Subtotal	$	530	$	525
Other	45		49
	$	575	$	574
Inventories
Raw materials, containers and supplies	$	297	$	271
Finished products	574		592
	$	871	$	863
Plant assets
Land	$	75	$	83
Buildings	1,473		1,474
Machinery and equipment	3,463		3,473
Projects in progress	274		185
Total cost	$	5,285	$	5,215
Accumulated depreciation(1)	(2,917)		(2,760)
	$	2,368	$	2,455
Other assets
Investments	$	—	$	77
Pensions	10		21
Operating lease right-of-use assets, net of amortization	254		—
Other	19		29
	$	283	$	127

	2020		2019
Accrued liabilities
Accrued compensation and benefits	$	252	$	234
Fair value of derivatives	11		8
Accrued trade and consumer promotion programs	156		135
Accrued interest	79		97
Restructuring	12		29
Operating lease liabilities	67		—
Other	116		106
	$	693	$	609
Other liabilities
Pension benefits	$	242	$	179
Postretirement benefits	220		210
Operating lease liabilities	184		—
Deferred compensation	80		79
Unrecognized tax benefits	17		19
Restructuring	3		8
Other	74		64
	$	820	$	559

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⁽¹⁾Depreciation expense was $285 in 2020, $389 in 2019 and $360 in 2018. Depreciation expense of continuing operations was $285 in 2020, $315 in 2019 and $259 in 2018. Buildings are depreciated over periods ranging from 7 to 45 years. Machinery and equipment are depreciated over periods generally ranging from 2 to 20 years.

Statements of Earnings

	2020		2019		2018
Other expenses / (income)
Amortization of intangible assets	$	43	$	48	$	20
Impairment of intangible assets(1)	—		16		54
Net periodic benefit expense (income) other than the service cost	30		43		(225)
Pension settlement charges	43		28		—
Investment losses(2)	49		1		10
Loss on sale of business(3)	64		—		—
Transition services fees	(10)		—		—
Transaction costs(4)	—		—		53
Legal settlements	—		—		22
Other	2		4		(7)
	$	221	$	140	$	(73)
Advertising and consumer promotion expense(5)	$	463	$	347	$	327
Interest expense
Interest expense	$	350	$	359	$	186
Less: Interest capitalized	5		3		3
	$	345	$	356	$	183

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⁽¹⁾See Note 6 for additional information.

⁽²⁾2020 includes a loss of $45 related to Acre. See Note 16 for additional information.

⁽³⁾In 2020, we recognized a loss of $64 on the sale of the European chips business. See Note 3 for additional information.

⁽⁴⁾In 2018, we recognized transaction costs of $53 related to the acquisition of Snyder's-Lance. See Note 4 for additional information.

⁽⁵⁾Included in Marketing and selling expenses.

Statements of Cash Flows

	2020		2019		2018
Cash Flows from Operating Activities
Other non-cash charges to net earnings
Operating lease expense	$	75	$	—	$	—
Amortization of debt issuance costs/debt discount	9		14		4
Benefit related expense	12		6		8
Other	5		4		12
	$	101	$	24	$	24
Other
Benefit related payments	$	(53)	$	(60)	$	(59)
Other	(6)		(4)		5
	$	(59)	$	(64)	$	(54)
Other Cash Flow Information
Interest paid	$	287	$	367	$	152
Interest received	$	4	$	3	$	4
Income taxes paid	$	222	$	117	$	128
Non-cash Activity
Build-to-suit lease commitment	$	—	$	20	$	—