Taxes on Earnings (Tables)

12 Months Ended

Jul. 30, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The provision for income taxes on earnings from continuing operations consists of the following:

(Millions)	2023		2022		2021
Income taxes:
Currently payable:
Federal	$	229	$	160	$	151
State	39		22		34
Non-U.S.	7		15		6
	275		197		191
Deferred:
Federal	(8)		29		102
State	2		(6)		33
Non-U.S.	1		(2)		2
	(5)		21		137
	$	270	$	218	$	328

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

(Millions)	2023		2022		2021
Earnings from continuing operations before income taxes:
United States	$	1,105	$	948	$	1,308
Non-U.S.	23		27		28
	$	1,128	$	975	$	1,336

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The following is a reconciliation of the effective income tax rate on continuing operations to the U.S. federal statutory income tax rate:

	2023		2022		2021
Federal statutory income tax rate	21.0	%	21.0	%	21.0	%
State income taxes (net of federal tax benefit)	2.9		2.2		2.8
Tax effect of international items	—		0.7		0.2
State income tax law changes	0.1		(1.0)		0.3
Divestiture impact on deferred taxes	—		—		(0.9)
Legal entity reorganization	—		—		1.4
Capital loss on the sale of the Plum baby food and snacks business	—		—		(1.3)
Capital loss valuation allowance on the sale of the Plum baby food and snacks business	—		—		1.3
Other	(0.1)		(0.5)		(0.2)
Effective income tax rate	23.9	%	22.4	%	24.6	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Deferred tax liabilities and assets are comprised of the following:

(Millions)	2023		2022
Depreciation	$	340	$	354
Amortization	881		870
Operating lease ROU assets	69		54
Pension	39		35
Other	8		9
Deferred tax liabilities	1,337		1,322
Benefits and compensation	112		119
Pension benefits	25		28
Tax loss carryforwards	10		13
Capital loss carryforwards	114		115
Operating lease liabilities	69		54
Capitalized research and development	15		—
Other	56		52
Gross deferred tax assets	401		381
Deferred tax asset valuation allowance	(129)		(131)
Deferred tax assets, net of valuation allowance	272		250
Net deferred tax liability	$	1,065	$	1,072

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

A reconciliation of the activity related to unrecognized tax benefits follows:

(Millions)	2023		2022		2021
Balance at beginning of year	$	14	$	22	$	23
Increases related to prior-year tax positions	—		4		—
Decreases related to prior-year tax positions	—		(10)		(1)
Increases related to current-year tax positions	2		1		3
Settlements	—		(2)		—
Lapse of statute	(1)		(1)		(3)
Balance at end of year	$	15	$	14	$	22