Financial Instruments (Tables)

9 Months Ended

Apr. 26, 2020

General Discussion of Derivative Instruments and Hedging Activities [Abstract]

Schedule Of The Fair Value Of Derivative Instruments [Table Text Block]

The following table summarizes the fair value of derivative instruments on a gross basis as recorded in the Consolidated Balance Sheets as of April 26, 2020, and July 28, 2019:

	Balance Sheet Classification	April 26, 2020		July 28, 2019
Asset Derivatives
Derivatives designated as hedges:
Foreign exchange forward contracts	Other current assets	$	7	$	—
Total derivatives designated as hedges		$	7	$	—
Derivatives not designated as hedges:
Commodity derivative contracts	Other current assets	$	3	$	3
Deferred compensation derivative contracts	Other current assets	1		1
Foreign exchange forward contracts	Other current assets	—		1
Total derivatives not designated as hedges		$	4	$	5
Total asset derivatives		$	11	$	5

	Balance Sheet Classification	April 26, 2020		July 28, 2019
Liability Derivatives
Derivatives designated as hedges:
Foreign exchange forward contracts	Current liabilities of discontinued operations	$	—	$	2
Total derivatives designated as hedges		$	—	$	2
Derivatives not designated as hedges:
Commodity derivative contracts	Accrued liabilities	$	25	$	6
Foreign exchange forward contracts	Accrued liabilities	—		2
Commodity derivative contracts	Other liabilities	1		—
Total derivatives not designated as hedges		$	26	$	8
Total liability derivatives		$	26	$	10

Schedule of Offsetting Assets [Table Text Block]

We do not offset the fair values of derivative assets and liabilities executed with the same counterparty that are generally subject to enforceable netting agreements. However, if we were to offset and record the asset and liability balances of derivatives on a net basis, the amounts presented in the Consolidated Balance Sheets as of April 26, 2020, and July 28, 2019, would be adjusted as detailed in the following table:

	April 26, 2020						July 28, 2019
Derivative Instrument	Gross Amounts Presented in the Consolidated Balance Sheet		Gross Amounts Not Offset in the Consolidated Balance Sheet Subject to Netting Agreements		Net Amount		Gross Amounts Presented in the Consolidated Balance Sheet		Gross Amounts Not Offset in the Consolidated Balance Sheet Subject to Netting Agreements		Net Amount
Total asset derivatives	$	11	$	(2)	$	9	$	5	$	(2)	$	3
Total liability derivatives	$	26	$	(2)	$	24	$	10	$	(2)	$	8

Schedule of Offsetting Liabilities [Table Text Block]

We do not offset the fair values of derivative assets and liabilities executed with the same counterparty that are generally subject to enforceable netting agreements. However, if we were to offset and record the asset and liability balances of derivatives on a net basis, the amounts presented in the Consolidated Balance Sheets as of April 26, 2020, and July 28, 2019, would be adjusted as detailed in the following table:

	April 26, 2020						July 28, 2019
Derivative Instrument	Gross Amounts Presented in the Consolidated Balance Sheet		Gross Amounts Not Offset in the Consolidated Balance Sheet Subject to Netting Agreements		Net Amount		Gross Amounts Presented in the Consolidated Balance Sheet		Gross Amounts Not Offset in the Consolidated Balance Sheet Subject to Netting Agreements		Net Amount
Total asset derivatives	$	11	$	(2)	$	9	$	5	$	(2)	$	3
Total liability derivatives	$	26	$	(2)	$	24	$	10	$	(2)	$	8

Schedule Of Changes In Cash-Flow Hedges In Other Comprehensive Income (Loss) [Table Text Block]

The following tables show the effect of our derivative instruments designated as cash-flow hedges for the three- and nine-month periods ended April 26, 2020, and April 28, 2019, in other comprehensive income (loss) (OCI) and the Consolidated Statements of Earnings:

		Total Cash-Flow Hedge OCI Activity
Derivatives Designated as Cash-Flow Hedges		April 26, 2020		April 28, 2019
Three Months Ended
OCI derivative gain (loss) at beginning of quarter		$	(9)	$	(8)
Effective portion of changes in fair value recognized in OCI:
Foreign exchange forward contracts		8		2
Amount of (gain) loss reclassified from OCI to earnings:	Location in Earnings
Foreign exchange forward contracts	Cost of products sold	1		(1)
Foreign exchange forward contracts	Other expenses / (income)	—		(1)
Forward starting interest rate swaps	Interest expense	—		1
OCI derivative gain (loss) at end of quarter		$	—	$	(7)
Nine Months Ended
OCI derivative gain (loss) at beginning of year		$	(11)	$	(8)
Effective portion of changes in fair value recognized in OCI:
Foreign exchange forward contracts		9		1
Amount of (gain) loss reclassified from OCI to earnings:	Location in Earnings
Foreign exchange forward contracts	Cost of products sold	—		(2)
Foreign exchange forward contracts	Other expenses / (income)	—		(1)
Foreign exchange forward contracts	Earnings (loss) from discontinued operations	1		1
Forward starting interest rate swaps	Interest expense	1		2
OCI derivative gain (loss) at end of quarter		$	—	$	(7)

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following table shows the effect of our derivative instruments designated as cash-flow hedges for the three- and nine-month periods ended April 26, 2020, and April 28, 2019, in the Consolidated Statements of Earnings:

	Three Months Ended								Nine Months Ended
	April 26, 2020				April 28, 2019				April 26, 2020				April 28, 2019
	Earnings (Loss) from Discontinued Operations		Interest Expense		Earnings (Loss) from Discontinued Operations		Interest Expense		Earnings (Loss) from Discontinued Operations		Interest Expense		Earnings (Loss) from Discontinued Operations		Interest Expense
Consolidated Statements of Earnings:	$	2	$	55	$	(39)	$	89	$	1,036	$	284	$	(260)	$	271
(Gain) loss on Cash Flow Hedges:
Amount of (gain) loss reclassified from OCI to earnings	$	—	$	—	$	—	$	1	$	1	$	1	$	1	$	2
Amount excluded from effectiveness testing recognized in earnings using an amortization approach	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Derivatives Not Designated as Hedging Instruments [Table Text Block]

The following table shows the effects of our derivative instruments not designated as hedges for the three- and nine-month periods ended April 26, 2020, and April 28, 2019, in the Consolidated Statements of Earnings:

		Amount of (Gain) Loss Recognized in Earnings on Derivatives
Derivatives not Designated as Hedges	Location of (Gain) Loss Recognized in Earnings	Three Months Ended				Nine Months Ended
		April 26, 2020		April 28, 2019		April 26, 2020		April 28, 2019
Foreign exchange forward contracts	Cost of products sold	$	(1)	$	—	$	(1)	$	—
Foreign exchange forward contracts	Other expenses / (income)	—		—		2		—
Commodity derivative contracts	Cost of products sold	31		6		27		7
Deferred compensation derivative contracts	Administrative expenses	5		(4)		1		(1)
Treasury rate lock contracts	Interest expense	—		—		(3)		—
Total (gain) loss at end of quarter		$	35	$	2	$	26	$	6