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Business And Geographic Segment Information
 12 Months Ended
Aug. 01, 2021
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; V8 juices and beverages; and Campbell’s tomato juice. The segment also included the results of our Plum baby food and snacks business, which was sold on May 3, 2021; 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 retail and foodservice 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."
Beginning in 2022, the foodservice and Canadian portion of Snacks will be managed as part of Meals & Beverages.
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 2021 and 2020, and 20% in 2019. Both of our reportable segments sold products to Wal-Mart Stores, Inc. or its affiliates.

202120202019
Net sales
Meals & Beverages$4,532 $4,646 $4,252 
Snacks3,944 4,045 3,854 
Corporate— — 1 
Total$8,476 $8,691 $8,107 

202120202019
Earnings before interest and taxes
Meals & Beverages$899 $983 $895 
Snacks537 551 522 
Corporate income (expense)(1)
130 (418)(407)
Restructuring charges(2)
(21)(9)(31)
Total$1,545 $1,107 $979 

202120202019
Depreciation and amortization
Meals & Beverages$128 $134 $162 
Snacks169 175 184 
Corporate(3)
20 19 17 
Discontinued operations(4)
— — 83 
Total$317 $328 $446 
202120202019
Capital expenditures
Meals & Beverages$61 $52 $156 
Snacks153 153 134 
Corporate(3)
61 64 35 
Discontinued operations— 30 59 
Total$275 $299 $384 
_______________________________________
(1)Represents unallocated items. Pension and postretirement benefit settlement and mark-to-market adjustments are included in Corporate. There were settlement gains of $38 and gains of $165 in 2021, settlement charges of $43 and losses of $121 in 2020, and losses of $122 in 2019, respectively. A loss of $11 on the sale of the Plum baby food and snacks business was included in 2021. A loss of $45 on Acre Venture Partners, L.P. (Acre) was included in 2020. See Note 14 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 $32, $60 and $90 in 2021, 2020 and 2019, respectively. Intangible asset impairment charges were $16 in 2019. A mark-to-market gain on outstanding commodity hedges of $50 was included in 2021.
(2)See Note 7 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:
202120202019
Net sales
Soup$2,568 $2,653 $2,368 
Snacks3,989 4,099 3,918 
Other simple meals1,134 1,184 1,082 
Beverages785 755 738 
Other— — 1 
Total$8,476 $8,691 $8,107 
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.
Geographic Area Information
Information about continuing operations in different geographic areas is as follows:
202120202019
Net sales
United States$7,951 $8,165 $7,492 
Other countries525 526 615 
Total$8,476 $8,691 $8,107 

202120202019
Long-lived assets
United States$2,363 $2,361 $2,400 
Other countries7 7 55 
Total$2,370 $2,368 $2,455