Leases

9 Months Ended

Apr. 28, 2024

Leases [Abstract]

cpb_LeaseDisclosureTextBlock

Leases

The components of lease costs were as follows:

	Three Months Ended				Nine Months Ended
(Millions)	April 28, 2024		April 30, 2023		April 28, 2024		April 30, 2023
Operating lease cost(1)	$	25	$	23	$	73	$	63
Finance lease - amortization of right-of-use (ROU) assets	6		4		14		12
Finance lease - interest on lease liabilities	1		—		1		—
Short-term lease cost	15		14		50		48
Variable lease cost	57		52		159		155
Total	$	104	$	93	$	297	$	278

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(1)Excludes costs associated with the cost savings initiatives described in Note 7.

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

	Operating Leases
(Millions)	Balance Sheet Classification	April 28, 2024		July 30, 2023
ROU assets, net	Other assets	$	283	$	275
Lease liabilities (current)	Accrued liabilities	$	76	$	70
Lease liabilities (noncurrent)	Other liabilities	$	229	$	208
	Finance Leases
(Millions)	Balance Sheet Classification	April 28, 2024		July 30, 2023
ROU assets, net	Plant assets, net of depreciation	$	61	$	27
Lease liabilities (current)	Short-term borrowings	$	21	$	13
Lease liabilities (noncurrent)	Long-term debt	$	39	$	15

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

	Nine Months Ended
(Millions)	April 28, 2024		April 30, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	70	$	62
Operating cash flows from finance leases	$	1	$	—
Financing cash flows from finance leases	$	15	$	12
ROU assets obtained in exchange for lease obligations:
Operating leases	$	78	$	106
Finance leases	$	35	$	10
ROU assets obtained with business acquired:
Operating leases	$	15	$	—
Finance leases	$	13	$	—