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Segment Information
 6 Months Ended
Jan. 31, 2021
Segment Reporting [Abstract]  
Business and Geographic Segment Information 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 Pepperidge Farm Farmhouse* cookies and bakery products, 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 included the results of our European chips business, which was sold on October 11, 2019. We refer to the * trademarks as our "power brands."
We evaluate segment performance before interest, taxes and costs associated with restructuring activities and impairment charges. Unrealized gains and losses on undesignated 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.
Three Months EndedSix Months Ended
January 31,
2021		January 26,
2020		January 31,
2021		January 26,
2020
Net sales
Meals & Beverages$1,300 $1,224 $2,642 $2,418 
Snacks979 938 1,977 1,927 
Total$2,279 $2,162 $4,619 $4,345 
Three Months EndedSix Months Ended
January 31,
2021		January 26,
2020		January 31,
2021		January 26,
2020
Earnings before interest and taxes
Meals & Beverages$258 $242 $591 $524 
Snacks144 136 283 261 
Corporate(1)
17 (21)7 (108)
Restructuring charges(2)
(18)(7)(19)(10)
Total$401 $350 $862 $667 
_______________________________________
(1)Represents unallocated items. Pension benefit settlement adjustments are included in Corporate. There were settlement gains of $30 and $34 in the three- and six-month periods ended January 31, 2021, and $11 in the three- and six-month periods ended January 26, 2020. A loss of $64 on the sale of our European chips business was included in the six-month period ended January 26, 2020. Costs related to the cost savings initiatives were $4 and $18 in the three-month periods and $9 and $26 in the six-month periods ended January 31, 2021, and January 26, 2020, respectively.
(2)See Note 7 for additional information.
Our net sales based on product categories are as follows:
Three Months EndedSix Months Ended
January 31,
2021		January 26,
2020		January 31,
2021		January 26,
2020
Net sales
Soup$794 $755 $1,620 $1,463 
Snacks989 955 1,997 1,965 
Other simple meals307 279 618 562 
Beverages189 173 384 355 
Total$2,279 $2,162 $4,619 $4,345 
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. Beverages include V8 juices and beverages, Campbell’s tomato juice and Pacific Foods non-dairy beverages.