Supplemental Financial Statement Data

12 Months Ended

Aug. 01, 2021

Disclosure Text Block Supplement [Abstract]

Supplemental Financial Information Data

Supplemental Financial Statement Data

Balance Sheets

	2021		2020
Accounts receivable
Customer accounts receivable	$	556	$	544
Allowances	(12)		(14)
Subtotal	$	544	$	530
Other	51		45
	$	595	$	575
Inventories
Raw materials, containers and supplies	$	321	$	297
Finished products	612		574
	$	933	$	871
Plant assets
Land	$	75	$	75
Buildings	1,493		1,473
Machinery and equipment	3,732		3,463
Projects in progress	189		274
Total cost	$	5,489	$	5,285
Accumulated depreciation(1)	(3,119)		(2,917)
	$	2,370	$	2,368
Other assets
Operating lease ROU assets, net of amortization	$	235	$	254
Pension	190		10
Other	24		19
	$	449	$	283
Accrued liabilities
Accrued compensation and benefits	$	203	$	252
Fair value of derivatives	3		11
Accrued trade and consumer promotion programs	121		156
Accrued interest	70		79
Restructuring	6		12
Operating lease liabilities	54		67
Other	119		116
	$	576	$	693

	2021		2020
Other liabilities
Pension benefits	$	142	$	242
Postretirement benefits	199		220
Operating lease liabilities	180		184
Deferred compensation	92		80
Unrecognized tax benefits	20		17
Other	72		77
	$	705	$	820

____________________________________ 

(1)Depreciation expense was $275 in 2021, $285 in 2020 and $389 in 2019. Depreciation expense associated with discontinued operations was $74 in 2019. 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

	2021		2020		2019
Other expenses / (income)
Amortization of intangible assets	$	42	$	43	$	48
Impairment of intangible assets(1)	—		—		16
Net periodic benefit expense (income) other than the service cost	(247)		30		43
Pension settlement charges (gains)	(38)		43		28
Investment losses(2)	—		49		1
Loss on sales of businesses(3)	11		64		—
Transition services fees	(27)		(10)		—
Other	5		2		4
	$	(254)	$	221	$	140
Advertising and consumer promotion expense(4)	$	399	$	463	$	347
Interest expense(5)
Interest expense	$	214	$	350	$	359
Less: Interest capitalized	4		5		3
	$	210	$	345	$	356

____________________________________ 

(1)See Note 3 for additional information.

(2)2020 includes a loss of $45 related to Acre. See Note 14 for additional information.

(3)In 2021, we recognized a loss of $11 on the sale of the Plum baby food and snacks business. In 2020, we recognized a loss of $64 on the sale of the European chips business. See Note 3 for additional information.

(4)Included in Marketing and selling expenses.

(5)In 2020, we recognized a loss of $75 (including $65 of premium, fees and other costs paid with the tender offers and unamortized debt issuance costs). See Note 12 for additional information.

Statements of Cash Flows

	2021		2020		2019
Cash Flows from Operating Activities
Other non-cash charges to net earnings
Operating lease ROU asset expense	$	75	$	75	$	—
Amortization of debt issuance costs/debt discount	6		9		14
Benefit related expense	12		12		6
Other	(7)		5		4
	$	86	$	101	$	24
Other
Benefit related payments	$	(49)	$	(53)	$	(60)
Other	2		(6)		(4)
	$	(47)	$	(59)	$	(64)
Other Cash Flow Information
Interest paid	$	214	$	287	$	367
Interest received	$	1	$	4	$	3
Income taxes paid	$	212	$	222	$	117
Non-cash Activity
Build-to-suit lease commitment	$	—	$	—	$	20