v3.25.2
Financial Instruments (Tables)
 12 Months Ended
Aug. 03, 2025
General Discussion of Derivative Instruments and Hedging Activities [Abstract]  
Schedule Of The Fair Value Of Derivative Instruments [Table Text Block]
The following tables summarize the fair value of derivative instruments on a gross basis as recorded in the Consolidated Balance Sheets as of August 3, 2025, and July 28, 2024:
(Millions)Balance Sheet Classification20252024
Asset Derivatives
Derivatives designated as hedges:
Foreign exchange contractsOther current assets$— $2 
Total derivatives designated as hedges$— $2 
Derivatives not designated as hedges:
Commodity contractsOther current assets$12 $6 
Deferred compensation contractsOther current assets1 3 
Foreign exchange contractsOther current assets2 — 
Total derivatives not designated as hedges$15 $9 
Total asset derivatives$15 $11 
(Millions)Balance Sheet Classification20252024
Liability Derivatives
Derivatives designated as hedges:
Foreign exchange contractsAccrued liabilities$3 $— 
Total derivatives designated as hedges$3 $— 
Derivatives not designated as hedges:
Commodity contractsAccrued liabilities$11 $16 
Total derivatives not designated as hedges$11 $16 
Total liability derivatives$14 $16 
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 August 3, 2025, and July 28, 2024, would be adjusted as detailed in the following table:
20252024
(Millions)Gross Amounts Presented in the Consolidated Balance SheetGross Amounts Not Offset in the Consolidated Balance Sheet Subject to Netting AgreementsNet AmountGross Amounts Presented in the Consolidated Balance SheetGross Amounts Not Offset in the Consolidated Balance Sheet Subject to Netting AgreementsNet Amount
Total asset derivatives$15 $(5)$10 $11 $(1)$10 
Total liability derivatives$14 $(5)$9 $16 $(1)$15 
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 August 3, 2025, and July 28, 2024, would be adjusted as detailed in the following table:
20252024
(Millions)Gross Amounts Presented in the Consolidated Balance SheetGross Amounts Not Offset in the Consolidated Balance Sheet Subject to Netting AgreementsNet AmountGross Amounts Presented in the Consolidated Balance SheetGross Amounts Not Offset in the Consolidated Balance Sheet Subject to Netting AgreementsNet Amount
Total asset derivatives$15 $(5)$10 $11 $(1)$10 
Total liability derivatives$14 $(5)$9 $16 $(1)$15 
Schedule Of Changes In Cash-Flow Hedges In Other Comprehensive Income (Loss) [Table Text Block]
The following table shows the effect of our derivative instruments designated as cash-flow hedges in other comprehensive income (loss) (OCI) and the Consolidated Statements of Earnings:

 Total Cash-Flow Hedge
OCI Activity
(Millions) 202520242023
OCI derivative gain (loss) at beginning of year$(11)$(5)$— 
Effective portion of changes in fair value recognized in OCI:
Foreign exchange contracts(3)6 5 
Forward starting interest rate swaps— (11)— 
Amount of loss (gain) reclassified from OCI to earnings:Location in Earnings
Commodity contractsCost of products sold— — (3)
Foreign exchange contractsCost of products sold(3)(3)(8)
Forward starting interest rate swapsInterest expense3 2 1 
OCI derivative gain (loss) at end of year$(14)$(11)$(5)
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location
The following table shows the total amounts of line items presented in the Consolidated Statements of Earnings in which the effects of derivative instruments designated as cash-flow hedges are recorded and the total effect of hedge activity on these line items:
202520242023
(Millions)Cost of products soldInterest expenseCost of products soldInterest expenseCost of products soldInterest expense
Consolidated Statements of Earnings$7,134 $345 $6,665 $249 $6,440 $188 
Loss (gain) on cash-flow hedges:
Amount of loss (gain) reclassified from OCI to earnings$(3)$3 $(3)$2 $(11)$1 
The amount excluded from effectiveness testing recognized in each line item of earnings using an amortization approach was not material in all periods presented.
Derivatives Not Designated as Hedging Instruments
The following table shows the effects of our derivative instruments not designated as hedges in the Consolidated Statements of Earnings:
(Millions)Location of Loss (Gain)
Recognized in Earnings		202520242023
Foreign exchange contractsCost of products sold$(3)$(1)$— 
Commodity contractsCost of products sold(10)14 (27)
Deferred compensation contractsAdministrative expenses(9)(8)(4)
Total$(22)$5 $(31)