Taxes On Earnings (Tables)

12 Months Ended

Jul. 31, 2011

Taxes On Earnings

Schedule Of Provision For Income Taxes On Earnings From Continuing Operations

	2011	2010	2009
Income taxes:
Currently payable
Federal	$      215	$      253	$      145
State	27	46	12
Non-U.S.	78	45	46
	320	344	203
Deferred
Federal	47	38	142
State	(2)	1	9
Non-U.S.	1	15	(7)
	46	54	144
	$366	$398	$347
Earnings from continuing operations before income taxes:
United States	$      944	$   1,051	$      976
Non-U.S.	224	191	103
	$   1,168	$   1,242	$   1,079

Schedule Of Reconciliation Of Effective Income Tax Rate

	2011	2010	2009
Federal statutory income tax rate	35.0%	35.0%	35.0%
State income taxes (net of federal tax benefit)	1.4	2.5	1.7
Tax effect of international items	(2.1)	(2.5)	(0.8)
Settlement of tax contingencies	(0.5)	(0.7)	(1.0)
Federal manufacturing deduction	(1.8)	(1.3)	(1.0)
Other	(0.7)	(1.0)	(1.7)
Effective income tax rate	31.3%	32.0%	32.2%

Schedule Of Deferred Tax Liabilities And Assets

	2011	2010
Depreciation	$    253	$    221
Amortization	474	449
Other	14	13
Deferred tax liabilities	741	683
Benefits and compensation	307	319
Pension benefits	93	134
Tax loss carryforwards	84	67
Capital loss carryforwards	122	101
Other	83	76
Gross deferred tax assets	689	697
Deferred tax asset valuation allowance	(156)	(123)
Net deferred tax assets	533	574
Net deferred tax liability	$    208	$    109

Schedule Of Reconciliation Of Activity Related To Unrecognized Tax Benefit

	2011	2010	2009
Balance at beginning of year	$    36	$    42	$    54
Increases related to prior-year tax positions	6	14	—
Decreases related to prior-year tax positions	(4)	(11)	(11)
Increases related to current-year tax positions	9	4	4
Settlements	—	(11)	(2)
Lapse of statute	(4)	(2)	(3)
Balance at end of year	$    43	$    36	$    42