Leases

3 Months Ended

Oct. 29, 2023

Leases [Abstract]

cpb_LeaseDisclosureTextBlock

Leases

The components of lease costs were as follows:

	Three Months Ended
(Millions)	October 29, 2023		October 30, 2022
Operating lease cost	$	24	$	20
Finance lease - amortization of right-of-use (ROU) assets	4		4
Short-term lease cost	19		17
Variable lease cost(1)	53		50
Total	$	100	$	91

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(1)Includes labor and other overhead in our service contracts with embedded leases.

The following tables summarize the lease amounts recorded in the Consolidated Balance Sheets:

	Operating Leases
(Millions)	Balance Sheet Classification	October 29, 2023		July 30, 2023
ROU assets, net	Other assets	$	288	$	275
Lease liabilities (current)	Accrued liabilities	$	72	$	70
Lease liabilities (noncurrent)	Other liabilities	$	220	$	208
	Finance Leases
(Millions)	Balance Sheet Classification	October 29, 2023		July 30, 2023
ROU assets, net	Plant assets, net of depreciation	$	26	$	27
Lease liabilities (current)	Short-term borrowings	$	12	$	13
Lease liabilities (noncurrent)	Long-term debt	$	16	$	15

The following table summarizes cash flow and other information related to leases:

	Three Months Ended
(Millions)	October 29, 2023		October 30, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	23	$	20
Financing cash flows from finance leases	$	4	$	4
ROU assets obtained in exchange for lease obligations:
Operating leases	$	36	$	15
Finance leases	$	3	$	—