Financial Instruments (Tables)

12 Months Ended

Jul. 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 July 29, 2012, and July 31, 2011:

	Balance Sheet Classification	2012		2011
Asset Derivatives
Derivatives designated as hedges:
Foreign exchange forward contracts	Other current assets	$	1	$	—
Forward starting interest rate swaps	Other current assets	1		—
Interest rate swaps	Other current assets	4		—
Forward starting interest rate swaps	Other assets	1		—
Interest rate swaps	Other assets	9		33
Total derivatives designated as hedges		$	16	$	33
Derivatives not designated as hedges:
Commodity derivative contracts	Other current assets	$	8	$	3
Cross-currency swap contracts	Other current assets	19		—
Deferred compensation derivative contracts	Other current assets	1		—
Foreign exchange forward contracts	Other current assets	1		—
Cross-currency swap contracts	Other assets	—		1
Total derivatives not designated as hedges		29		4
Total asset derivatives		$	45	$	37

	Balance Sheet Classification	2012		2011
Liability Derivatives
Derivatives designated as hedges:
Cross-currency swap contracts	Accrued liabilities	$	—	$	8
Foreign exchange forward contracts	Accrued liabilities	—		7
Cross-currency swap contracts	Other liabilities	25		30
Total derivatives designated as hedges		$	25	$	45
Derivatives not designated as hedges:
Commodity derivative contracts	Accrued liabilities	$	4	$	2
Cross-currency swap contracts	Accrued liabilities	25		17
Deferred compensation derivative contracts	Accrued liabilities	—		3
Foreign exchange forward contracts	Accrued liabilities	—		2
Cross-currency swap contracts	Other liabilities	29		74
Total derivatives not designated as hedges		$	58	$	98
Total liability derivatives		$	83	$	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 years ended July 29, 2012 and July 31, 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
		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		13			(12		)
Forward starting interest rate swaps		2			—
Amount of (gain) or loss reclassified from OCI to earnings:	Location in Earnings
Foreign exchange forward contracts	Cost of products sold	(1		)	4
Foreign exchange forward contracts	Other expenses/income	(2		)	2
Forward starting interest rate swaps	Interest expense	3			3
OCI derivative gain/(loss) at end of year		$	(16	)	$	(31	)

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	2012			2011			2012		2011
Interest rate swaps	Interest expense	$	(20	)	$	(13	)	$	20	$	13

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
Derivatives not Designated as Hedges	Location of Gain or (Loss) Recognized in Earnings	2012			2011
Foreign exchange forward contracts	Cost of products sold	$	2		$	(1	)
Cross-currency swap contracts	Other expenses/income	67			(88		)
Commodity derivative contracts	Cost of products sold	(4		)	7
Deferred compensation derivative contracts	Administrative expenses	3			1
Total		$	68		$	(81	)