
	Three Months Ended
	February 1, 2026						January 26, 2025
(Millions)	Meals & Beverages		Snacks		Total		Meals & Beverages		Snacks		Total
Net sales	$	1,650	$	914	$	2,564	$	1,711	$	974	$	2,685
Cost of products sold	1,168		686				1,168		704
Other segment items(1)	230		161				247		161
Segment operating earnings	$	252	$	67	$	319	$	296	$	109	$	405
Corporate expense (income)(2)					43						73
Restructuring charges(3)					3						5
Earnings before interest and taxes					$	273					$	327
Interest expense					82						88
Interest income					2						8
Earnings before taxes					$	193					$	247

	Six Months Ended
	February 1, 2026						January 26, 2025
(Millions)	Meals & Beverages		Snacks		Total		Meals & Beverages		Snacks		Total
Net sales	$	3,315	$	1,926	$	5,241	$	3,450	$	2,007	$	5,457
Cost of products sold	2,321		1,407				2,343		1,429
Other segment items(1)	445		329				468		333
Segment operating earnings	$	549	$	190	$	739	$	639	$	245	$	884
Corporate expense (income)(2)					124						179
Restructuring charges(3)					6						11
Earnings before interest and taxes					$	609					$	694
Interest expense					163						175
Interest income					3						12
Earnings before taxes					$	449					$	531


	Three Months Ended				Six Months Ended
(Millions)	February 1, 2026		January 26, 2025		February 1, 2026		January 26, 2025
Depreciation and amortization
Meals & Beverages	$	42	$	44	$	82	$	90
Snacks	54		60		107		118
Corporate(4)	6		6		12		11

Total	$	102	$	110	$	201	$	219


	Three Months Ended				Six Months Ended
(Millions)	February 1, 2026		January 26, 2025		February 1, 2026		January 26, 2025
Capital expenditures
Meals & Beverages	$	64	$	41	$	135	$	75
Snacks	29		44		72		90
Corporate(4)	7		16		20		46

Total	$	100	$	101	$	227	$	211

_______________________________________

(2)Represents unallocated items. Costs related to cost savings and optimization initiatives were $21 million and $52 million in the three- and six-month periods ended February 1, 2026, and $20 million and $49 million in the three- and six-month periods ended January 26, 2025, respectively. Unrealized mark-to-market adjustments on outstanding undesignated commodity hedges were gains of $16 million and $14 million in the three- and six-month periods ended February 1, 2026, and gains of $14 million and $18 million in the three- and six-month periods ended January 26, 2025, respectively. Litigation expenses related to the Plum baby food and snacks business, which was divested on May 3, 2021, and certain other litigation matters were $1 million and $11 million in the three- and six-month periods ended February 1, 2026, and $1 million and $2 million in the three- and six-month periods ended January 26, 2025, respectively. Costs associated with a pending acquisition were $2 million in the six-month period ended February 1, 2026. Insurance recoveries of $1 million related to a cybersecurity incident were included in the six-month periods ended February 1, 2026 and January 26, 2025, respectively. Accelerated amortization expense related to customer relationship intangible assets was $7 million and $14 million in the three- and six-month periods ended January 26, 2025, respectively. Intangible asset impairment charges were $26 million in the three- and six-month periods ended January 26, 2025. A loss on the sale of our Pop Secret popcorn business of $25 million was included in the six-month period ended January 26, 2025. A postretirement actuarial loss of $2 million was included in the six-month period ended January 26, 2025.