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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jan. 26, 2025
Jan. 28, 2024
Jan. 26, 2025
Jan. 28, 2024
Jul. 28, 2024
Cash flows from operating activities:          
Net earnings $ 173 $ 203 $ 391 $ 437  
Adjustments to reconcile net earnings to operating cash flow          
Impairment of Intangible Assets, Indefinite-Lived (Excluding Goodwill) [1] 26 0 26 0  
Restructuring charges 5 2 11 4  
Stock-based compensation     36 36  
Pension and postretirement benefit expense     2 3  
Depreciation and amortization     219 192  
Deferred income taxes     5 6  
Net loss on sale of business [2] 0 0 25 0  
Other     67 76  
Changes in working capital, net of divestiture          
Accounts receivable     (94) (116)  
Inventories     52 102  
Other current assets     (24) (22)  
Accounts payable and accrued liabilities     40 (17)  
Other     (19) (17)  
Net cash provided by operating activities     737 684  
Cash flows from investing activities:          
Purchases of plant assets     (211) (263)  
Purchases of route businesses     (90) (6)  
Sales of route businesses     61 13  
Sale of business     70 0  
Other     (5) 0  
Net cash used in investing activities     (175) (256)  
Cash flows from financing activities:          
Short-term borrowings, including commercial paper     663 1,416  
Short-term repayments, including commercial paper     (925) (1,596)  
Long-term borrowings     1,144 0  
Long-term repayments     (400) 0  
Dividends paid     (227) (224)  
Treasury stock purchases     (56) (29)  
Payments related to tax withholding for stock-based compensation     (28) (14)  
Payments of debt issuance costs     (11) 0  
Other     0 (1)  
Net cash provided by (used in) financing activities     160 (448)  
Effect of exchange rate changes on cash     (1) 0  
Net change in cash and cash equivalents     721 (20)  
Cash and cash equivalents - beginning of period     108 189 $ 189
Cash and cash equivalents - end of period $ 829 $ 169 $ 829 $ 169 $ 108
[1] See Note 6 for additional information.
[2] Related to the sale of our Pop Secret popcorn business. See Note 4 for additional information.