v3.25.2
Taxes on Earnings (Tables)
 12 Months Ended
Aug. 03, 2025
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
The provision for income taxes on earnings consists of the following:
(Millions)202520242023
Income taxes:
Currently payable:
Federal$202 $190 $229 
State42 41 39 
Non-U.S. 4 6 7 
248 237 275 
Deferred:
Federal(40)(37)(8)
State(14)(9)2 
Non-U.S. — (1)1 
(54)(47)(5)
$194 $190 $270 
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]
(Millions)202520242023
Earnings before income taxes:
United States$784 $735 $1,105 
Non-U.S. 12 22 23 
$796 $757 $1,128 
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
The following is a reconciliation of the effective income tax rate to the U.S. federal statutory income tax rate:
 202520242023
Federal statutory income tax rate21.0 %21.0 %21.0 %
State income taxes (net of federal tax benefit)2.8 3.2 2.9 
Tax effect of international items— (0.1)— 
State income tax law changes
(0.4)(0.1)0.1 
Divestitures1.8 — 0.2 
Nondeductible executive compensation(1)
0.4 1.5 0.4 
Other(1.2)(0.4)(0.7)
Effective income tax rate24.4 %25.1 %23.9 %
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(1)The increase in 2024 is associated with the acquisition of Sovos Brands.
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
Deferred tax liabilities and assets are comprised of the following:
(Millions)20252024
Depreciation$353 $353 
Amortization1,197 1,260 
Operating lease ROU assets81 86 
Pension30 34 
Other12 10 
Deferred tax liabilities1,673 1,743 
Benefits and compensation98 113 
Pension benefits23 24 
Tax loss carryforwards5 7 
Capital loss carryforwards18 24 
Operating lease liabilities88 91 
Capitalized research and development44 34 
Other69 55 
Gross deferred tax assets345 348 
Deferred tax asset valuation allowance(23)(29)
Deferred tax assets, net of valuation allowance322 319 
Net deferred tax liability$1,351 $1,424 
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]
A reconciliation of the activity related to unrecognized tax benefits follows:
(Millions)202520242023
Balance at beginning of year$17 $15 $14 
Increases related to prior-year tax positions1 2 — 
Decreases related to prior-year tax positions— — — 
Increases related to current-year tax positions1 2 2 
Settlements— — — 
Lapse of statute(1)(2)(1)
Balance at end of year$18 $17 $15