Restructuring Charges and Cost Savings Initiatives (Tables)

12 Months Ended

Aug. 02, 2015

A summary of the pre-tax costs associated with the 2015 initiatives is as follows:



	Recognized as of August 2, 2015
Severance pay and benefits	$	94
Implementation and other costs	30
Total	$	124

A summary of the restructuring activity and related reserves associated with the 2015 initiatives at August 2, 2015, is as follows:



	Accrued Balance at August 3, 2014		2015 Charges		2015 Cash Payments			Foreign Currency Translation Adjustment			Accrued Balance at August 2, 2015 ⁽³⁾
Severance pay and benefits	$	—	$	87	$	(1	)	$	(1	)	$	85
Other costs	—		8		—			—			8
	$	—	95		$	(1	)	$	(1	)	$	93
Non-cash benefits⁽¹⁾			7
Implementation costs⁽²⁾			22
Total charges			$	124

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⁽¹⁾	Represents postretirement and pension curtailment costs. See Note 11.


⁽²⁾	Includes other costs recognized as incurred that are not reflected in the restructuring reserve in the Consolidated Balance Sheet. The costs are included in Administrative expenses in the Consolidated Statements of Earnings.


⁽³⁾	Includes $45 of severance pay and benefits recorded in Other liabilities in the Consolidated Balance Sheet.

A summary of the pre-tax costs incurred to date associated with segments is as follows:



	Americas Simple Meals and Beverages		Global Biscuits and Snacks		Campbell Fresh		Corporate		Total
Severance pay and benefits	$	48	$	42	$	1	$	3	$	94
Implementation and other costs	6		2		—		22		30
	$	54	$	44	$	1	$	25	$	124

A summary of the pre-tax costs associated with the 2014 initiatives is as follows:

A summary of the restructuring activity and related reserves associated with the 2014 initiatives at August 2, 2015, is as follows:



	Accrued Balance at July 28, 2013		2014 Charges		2014 Cash Payments		Accrued Balance at August 3, 2014	2015 Cash Payments		Foreign Currency Translation Adjustment		Accrued Balance at August 2, 2015⁽²⁾
Severance pay and benefits	$	—	$	41	(13	)	28	(16	)	(2	)	$	10
Asset impairment			12
Other exit costs⁽¹⁾			1
Total charges			$	54

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⁽¹⁾	Includes non-cash costs that are not reflected in the restructuring reserve in the Consolidated Balance Sheet.


⁽²⁾	Includes $4 of severance pay and benefits recorded in Other liabilities in the Consolidated Balance Sheet.

A summary of restructuring charges associated with segments is as follows:



	Americas Simple Meals and Beverages		Global Biscuits and Snacks		Campbell Fresh		Corporate		Total
Severance pay and benefits	$	13	$	26	$	1	$	1	$	41
Asset impairment	1		11		—		—		12
Other exit costs	—		1		—		—		1
	$	14	$	38	$	1	$	1	$	54

A summary of the pre-tax costs associated with the 2013 initiatives recognized is as follows:



	Total Program
Severance pay and benefits	$	31
Accelerated depreciation/asset impairment	99
Other exit costs	12
Total	$	142

A summary of the restructuring activity and related reserves associated with the 2013 initiatives at August 2, 2015, is as follows:



	Severance Pay and Benefits			Asset Impairment/Accelerated Depreciation	Non-Cash Benefits⁽¹⁾		Other Exit Costs⁽²⁾	Total Charges
Accrued balance at July 29, 2012	$	—
2013 charges	32			99	(1	)	8	$	138
2013 cash payments	(15		)
Accrued balance at July 28, 2013	$	17
2014 charges	—			—	—		4	$	4
2014 cash payments	(14		)
Accrued balance at August 3, 2014	$	3
2015 cash payments	(3		)
Accrued balance at August 2, 2015	$	—

_______________________________________


⁽¹⁾	Represents pension curtailments. See Note 11.


⁽²⁾	Includes non-cash costs and other exit costs recognized as incurred that are not reflected in the restructuring reserve in the Consolidated Balance Sheet

A summary of restructuring charges and related costs associated with segments is as follows:



	Americas Simple Meals and Beverages		Global Biscuits and Snacks		Campbell Fresh		Total
Severance pay and benefits	$	28	$	2	$	1	$	31
Accelerated depreciation/asset impairment	89		10		—		99
Other exit costs	10		2		—		12
	$	127	$	14	$	1	$	142