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Pension And Postretirement Benefits (Tables)
12 Months Ended
Jul. 31, 2022
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Changes in Projected Benefit Obligations [Table Text Block]
Change in benefit obligation:
PensionPostretirement
(Millions)2022202120222021
Obligation at beginning of year$2,186 $2,366 $222 $244 
Service cost16 18  — 
Interest cost49 41 3 
Actuarial loss (gain)(310)(43)(36)(6)
Benefits paid(106)(152)(17)(20)
Settlements(89)(53) — 
Other(6)(2) — 
Foreign currency adjustment(3)11  — 
Benefit obligation at end of year$1,737 $2,186 $172 $222 
Schedule of Amounts Recognized in Balance Sheet [Table Text Block]
Net amounts recognized in the Consolidated Balance Sheets:
 PensionPostretirement
(Millions)2022202120222021
Other assets$146 $190 $ $— 
Accrued liabilities13 14 19 23 
Other liabilities107 142 153 199 
Net amounts recognized asset / (liability)$26 $34 $(172)$(222)
Amounts recognized in accumulated other comprehensive income (loss) consist of:
(Millions)PensionPostretirement
2022202120222021
Prior service credit (cost)$(1)$(1)$4 $
Defined Benefit Plan, Assumptions [Table Text Block]
Weighted-average assumptions used to determine benefit obligations at the end of the year:
 PensionPostretirement
 2022202120222021
Discount rate4.58%2.69%4.48%2.37%
Rate of compensation increase3.23%3.23%3.25%3.25%
Interest crediting rate4.00%4.00%Not applicable
Schedule of Expected Benefit Payments [Table Text Block]
Estimated future benefit payments are as follows:
(Millions)PensionPostretirement
2023$168 $20 
2024$155 $18 
2025$147 $17 
2026$142 $15 
2027$138 $15 
2028-2032$619 $62 
Pension Plan, Defined Benefit [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Net Benefit Costs [Table Text Block] Components of net periodic benefit expense (income) were as follows:
Pension
(Millions)202220212020
Service cost$16 $18 $19 
Interest cost49 41 65 
Expected return on plan assets(118)(122)(134)
Amortization of prior service cost — — 
Actuarial losses (gains)80 (197)141 
Net periodic benefit expense (income)$27 $(260)$91 
Schedule of Changes in Fair Value of Plan Assets [Table Text Block]
Change in the fair value of pension plan assets:
(Millions)20222021
Fair value at beginning of year$2,220 $2,120 
Actual return on plan assets(272)276 
Employer contributions 
Benefits paid(92)(138)
Settlements(89)(53)
Foreign currency adjustment(4)13 
Fair value at end of year$1,763 $2,220 
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets [Table Text Block]
The following table provides information for pension plans with projected benefit obligations in excess of plan assets and accumulated benefit obligations in excess of plan assets:
(Millions)20222021
Projected benefit obligation$120 $156 
Accumulated benefit obligation$118 $154 
Fair value of plan assets$ $— 
Defined Benefit Plan, Assumptions [Table Text Block]
Weighted-average assumptions used to determine net periodic benefit cost for the years ended:
 Pension
 202220212020
Discount rate3.13%2.47%3.46%
Expected return on plan assets5.82%6.01%6.85%
Rate of compensation increase3.23%3.23%3.20%
Interest crediting rate4.00%4.00%4.00%
Schedule of Allocation of Plan Assets [Table Text Block]
Our year-end pension plan weighted-average asset allocations by category were:
 Strategic Target20222021
Equity securities33%34%36%
Debt securities60%59%57%
Real estate and other7%7%7%
Total100%100%100%
Pension plan assets are categorized based on the following fair value hierarchy:
Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.
Level 2: Inputs other than quoted prices included in Level 1 that are observable for the asset or liability through corroboration with observable market data.
Level 3: Unobservable inputs, which are valued based on our estimates of assumptions that market participants would use in pricing the asset or liability.
The following table presents our pension plan assets by asset category at July 31, 2022, and August 1, 2021:
 
Fair Value
as of
July 31, 2022
Fair Value Measurements at
July 31, 2022 Using
Fair Value Hierarchy
Fair Value
as of
August 1, 2021
Fair Value Measurements at
August 1, 2021 Using
Fair Value Hierarchy
(Millions)Level 1Level 2Level 3Level 1Level 2Level 3
Short-term investments
$33 $27 $6 $ $43 $41 $$— 
Equities:
U.S.78 75 3  106 100 — 
Non-U.S.162 162   234 233 — 
Corporate bonds:
U.S.571  571  723 — 723 — 
Non-U.S.119  119  138 — 138 — 
Government and agency bonds:
U.S.224  224  198 — 198 — 
Non-U.S.20  20  33 — 33 — 
Municipal bonds19  19  29 — 29 — 
Mortgage and asset backed securities
15  15  10 — 10 — 
Real estate4 2  2 — 
Hedge funds11   11 30 — — 30 
Derivative assets10  10  — — 
Derivative liabilities(5) (5) (3)— (3)— 
Total assets at fair value
$1,261 $266 $982 $13 $1,552 $376 $1,143 $33 
Investments measured at net asset value:
Short-term investments
$27 $26 
Commingled equity funds307 438 
Commingled fixed income funds87 117 
Real estate99 87 
Hedge funds14 34 
Total investments measured at net asset value:
$534 $702 
Other items to reconcile to fair value
(32)(34)
Total pension plan assets at fair value
$1,763 $2,220 
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]
The following table summarizes the changes in fair value of Level 3 investments for the years ended July 31, 2022, and August 1, 2021:
(Millions)Real EstateHedge FundsTotal
Fair value at August 1, 2021
$$30 $33 
Actual return on plan assets 1 1 
Purchases, sales and settlements, net(1)(20)(21)
Transfers out of Level 3   
Fair value at July 31, 2022
$2 $11 $13 
(Millions)Real EstateHedge FundsTotal
Fair value at August 2, 2020
$$31 $34 
Actual return on plan assets— 
Purchases, sales and settlements, net— (3)(3)
Transfers out of Level 3— — — 
Fair value at August 1, 2021
$$30 $33 
Other Postretirement Benefit Plans, Defined Benefit [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Net Benefit Costs [Table Text Block]
 Postretirement
(Millions)202220212020
Service cost$ $— $
Interest cost3 
Amortization of prior service credit(1)(5)(28)
Actuarial losses (gains)(36)(6)23 
Net periodic benefit expense (income)$(34)$(7)$
Schedule of Health Care Cost Trend Rates [Table Text Block]
Assumed health care cost trend rates at the end of the year:
 20222021
Health care cost trend rate assumed for next year6.50%6.25%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate)5.00%4.50%
Year that the rate reaches the ultimate trend rate20272025