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Fair Value Measurements (Tables)
 6 Months Ended
Jan. 27, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurements Of Assets And Liabilities
The following table presents the company’s financial assets and liabilities that are measured at fair value on a recurring basis as of January 27, 2013, and July 29, 2012, consistent with the fair value hierarchy:
 
 
Fair Value
as of
January 27,
2013
 
Fair Value Measurements at
January 27, 2013 Using
Fair Value Hierarchy
 
Fair Value
as of
July 29,
2012
 
Fair Value Measurements at
July 29, 2012 Using
Fair Value Hierarchy
 
Level 1
 
Level 2
 
Level 3
 
Level 1
 
Level 2
 
Level 3
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps(1)
$
6

 
$
—

 
$
6

 
$
—

 
$
13

 
$
—

 
$
13

 
$
—

Forward starting interest rate swaps(1)
9

 
—

 
9

 
—

 
2

 
—

 
2

 
—

Foreign exchange forward contracts(2)
1

 
—

 
1

 
—

 
2

 
—

 
2

 
—

Cross-currency swap contracts(3)
2

 
—

 
2

 
—

 
19

 
—

 
19

 
—

Commodity derivative contracts(4)
5

 
3

 
2

 
—

 
8

 
5

 
3

 
—

Deferred compensation derivative contracts(5)
2

 
—

 
2

 
—

 
1

 
—

 
1

 
—

Total assets at fair value
$
25

 
$
3

 
$
22

 
$
—

 
$
45

 
$
5

 
$
40

 
$
—


 
Fair Value
as of
January 27,
2013
 
Fair Value Measurements at
January 27, 2013 Using
Fair Value Hierarchy
 
Fair Value
as of
July 29,
2012
 
Fair Value Measurements at
July 29, 2012 Using
Fair Value Hierarchy
 
Level 1
 
Level 2
 
Level 3
 
Level 1
 
Level 2
 
Level 3
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange forward contracts(2)
$
1

 
$
—

 
$
1

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Cross-currency swap contracts(3)
80

 
—

 
80

 
—

 
79

 
—

 
79

 
—

Commodity derivative contracts(4)
3

 
1

 
2

 
—

 
4

 
2

 
2

 
—

Deferred compensation obligation(6)
123

 
123

 
—

 
—

 
109

 
109

 
—

 
—

Total liabilities at fair value
$
207

 
$
124

 
$
83

 
$
—

 
$
192

 
$
111

 
$
81

 
$
—


___________________________________ 
(1)
Based on LIBOR swap rates.
(2)
Based on observable market transactions of spot currency rates and forward rates.
(3)
Based on observable local benchmarks for currency and interest rates.
(4)
Based on quoted futures exchanges and on observable prices of futures and options transactions in the marketplace.
(5)
Based on LIBOR and equity index swap rates.
(6)
Based on the fair value of the participants’ investments.