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Financial Instruments (Tables)
 9 Months Ended
Apr. 29, 2012
General Discussion of Derivative Instruments and Hedging Activities [Abstract]  
Schedule Of The Fair Value Of Derivative Instruments
The following table summarizes the fair value of derivative instruments recorded in the Consolidated Balance Sheets as of April 29, 2012, and July 31, 2011:
 
 
Balance Sheet Classification
 
April 29,
2012
 
July 31,
2011
Asset Derivatives
 
 
 
 
 
Derivatives designated as hedges:
 
 
 
 
 
Foreign exchange forward contracts
Other current assets
 
$
1

 
$
—

Interest rate swaps
Other current assets
 
7

 
—

Interest rate swaps
Other assets
 
11

 
33

Total derivatives designated as hedges
 
 
$
19

 
$
33

Derivatives not designated as hedges:
 
 
 
 
 
Commodity derivative contracts
Other current assets
 
$
2

 
$
3

Cross-currency swap contracts
Other assets
 
3

 
1

Total derivatives not designated as hedges
 
 
$
5

 
$
4

Total asset derivatives
 
 
$
24

 
$
37


 
Balance Sheet Classification
 
April 29,
2012
 
July 31,
2011
Liability Derivatives
 
 
 
 
 
Derivatives designated as hedges:
 
 
 
 
 
Foreign exchange forward contracts
Accrued liabilities
 
$
1

 
$
7

Cross-currency swap contracts
Accrued liabilities
 
—

 
8

Cross-currency swap contracts
Other liabilities
 
27

 
30

Total derivatives designated as hedges
 
 
$
28

 
$
45

Derivatives not designated as hedges:
 
 
 
 
 
Foreign exchange forward contracts
Accrued liabilities
 
$
1

 
$
2

Commodity derivative contracts
Accrued liabilities
 
3

 
2

Cross-currency swap contracts
Accrued liabilities
 
13

 
17

Deferred compensation derivative contracts
Accrued liabilities
 
—

 
3

Cross-currency swap contracts
Other liabilities
 
52

 
74

Total derivatives not designated as hedges
 
 
$
69

 
$
98

Total liability derivatives
 
 
$
97

 
$
143
Schedule Of Changes In Cash-Flow Hedges In Other Comprehensive Income (Loss)
The following tables show the effect of the company’s derivative instruments designated as cash-flow hedges for the three- and nine-month periods ended April 29, 2012 and May 1, 2011, in other comprehensive income (loss) (OCI) and the Consolidated Statements of Earnings:
Derivatives Designated as Cash-Flow Hedges
 
  
 
 
Total
Cash-Flow
Hedge
OCI Activity
Three Months Ended April 29, 2012, and May 1, 2011
 
 
2012
 
2011
OCI derivative gain/(loss) at beginning of quarter
 
 
$
(19
)
 
$
(25
)
Effective portion of changes in fair value recognized in OCI:
 
 
 
 
 
Foreign exchange forward contracts
 
 
2

 
(7
)
Cross-currency swap contracts
 
 
1

 
—

Commodity derivative contracts
 
 
—

 
(1
)
Amount of (gain) or loss reclassified from OCI to earnings:
Location in Earnings
 
 
 
 
Foreign exchange forward contracts
Other expenses/income
 
—

 
1

Foreign exchange forward contracts
Cost of products sold
 
(6
)
 
—

Forward starting interest rate swaps
Interest expense
 
—

 
1

Commodity derivative contracts
Cost of products sold
 
—

 
(1
)
OCI derivative gain/(loss) at end of quarter
 
 
$
(22
)
 
$
(32
)

  
 
 
Total
Cash-Flow
Hedge
OCI Activity
Nine Months Ended April 29, 2012, and May 1, 2011
 
 
2012
 
2011
OCI derivative gain/(loss) at beginning of year
 
 
$
(31
)
 
$
(28
)
Effective portion of changes in fair value recognized in OCI:
 
 
 
 
 
Foreign exchange forward contracts
 
 
7

 
(10
)
Commodity derivative contracts
 
 
—

 
2

Amount of (gain) or loss reclassified from OCI to earnings:
Location in Earnings
 
 
 
 
Foreign exchange forward contracts
Other expenses/income
 
—

 
1

Foreign exchange forward contracts
Cost of products sold
 
—

 
2

Forward starting interest rate swaps
Interest expense
 
2

 
2

Commodity derivative contracts
Cost of products sold
 
—

 
(1
)
OCI derivative gain/(loss) at end of quarter
 
 
$
(22
)
 
$
(32
)
Derivatives Designated As Fair-Value Hedges
The following tables show the effect of the company’s derivative instruments designated as fair-value hedges in the Consolidated Statements of Earnings:
 
 
 
 
Amount of
Gain or (Loss)
Recognized in Earnings
on Derivatives
 
Amount of
Gain or (Loss)
Recognized in Earnings
on Hedged Item
Derivatives Designated
as Fair-Value Hedges
Location of Gain or (Loss)
Recognized in Earnings
 
April 29,
2012
 
May 1,
2011
 
April 29,
2012
 
May 1,
2011
Three Months Ended
 
 
 
 
 
 
 
 
 
Interest rate swaps
Interest expense
 
$
(5
)
 
$
(4
)
 
$
5

 
$
4

Nine Months Ended
 
 
 
 
 
 
 
 
 
Interest rate swaps
Interest expense
 
$
(15
)
 
$
(11
)
 
$
15

 
$
11
Derivatives Not Designated As Hedges
The following table shows the effects of the company’s derivative instruments not designated as hedges in the Consolidated Statements of Earnings:
 
 
 
 
Amount of Gain or (Loss)
Recognized in Earnings
on Derivatives
 
 Location of Gain or(Loss)
Recognized in Earnings
 
Three Months Ended
 
Nine Months Ended
Derivatives not Designated as Hedges
 
April 29,
2012
 
May 1,
2011
 
April 29,
2012
 
May 1,
2011
Foreign exchange forward contracts
Other expenses/income
 
$
—

 
$
1

 
$
1

 
$
—

Foreign exchange forward contracts
Cost of products sold
 
(4
)
 
—

 
—

 
(1
)
Cross-currency swap contracts
Other expenses/income
 
1

 
(55
)
 
40

 
(94
)
Commodity derivative contracts
Cost of products sold
 
1

 
1

 
(6
)
 
10

Deferred compensation derivative contracts
Administrative
expenses
 
4

 
—

 
3

 
2

Total
 
 
$
2

 
$
(53
)
 
$
38

 
$
(83
)