v3.26.1
Segment Information (Tables)
 9 Months Ended
May 03, 2026
Segment Reporting [Abstract]  
Schedule Of Segment Reporting [Table Text Block]
Three Months Ended
May 3, 2026April 27, 2025
(Millions)Meals & BeveragesSnacksTotalMeals & BeveragesSnacksTotal
Net sales$1,426 $940 $2,366 $1,493 $982 $2,475 
Cost of products sold1,013 694 1,040 690 
Other segment items(1)
200 151 200 152 
Segment operating earnings$213 $95 $308 $253 $140 $393 
Corporate expense (income)(2)
60 226 
Restructuring charges(3)
9 6 
Earnings before interest and taxes$239 $161 
Interest expense83 85 
Interest income3 5 
Earnings before taxes$159 $81 
Nine Months Ended
May 3, 2026April 27, 2025
(Millions)Meals & BeveragesSnacksTotalMeals & BeveragesSnacksTotal
Net sales$4,741 $2,866 $7,607 $4,943 $2,989 $7,932 
Cost of products sold3,334 2,101 3,383 2,119 
Other segment items(1)
645 480 668 485 
Segment operating earnings$762 $285 $1,047 $892 $385 $1,277 
Corporate expense (income)(2)
184 405 
Restructuring charges(3)
15 17 
Earnings before interest and taxes$848 $855 
Interest expense246 260 
Interest income6 17 
Earnings before taxes$608 $612 
Three Months EndedNine Months Ended
(Millions)May 3, 2026April 27, 2025May 3, 2026April 27, 2025
Depreciation and amortization
Meals & Beverages$40 $42 $122 $132 
Snacks59 61 166 179 
Corporate(4)
6 6 18 17 
Total$105 $109 $306 $328 
Three Months EndedNine Months Ended
(Millions)May 3, 2026April 27, 2025May 3, 2026April 27, 2025
Capital expenditures
Meals & Beverages$37 $40 $172 $115 
Snacks27 25 99 115 
Corporate(4)
6 20 26 66 
Total$70 $85 $297 $296 
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(1)Other segment items for each of the reportable segments include marketing and selling expenses, administrative expenses, research and development expenses and expense for amortization of intangible assets.
(2)Represents unallocated items. Costs related to cost savings and optimization initiatives were $60 million and $112 million in the three- and nine-month periods ended May 3, 2026, and $25 million and $74 million in the three- and nine-month periods ended April 27, 2025, respectively. Unrealized mark-to-market adjustments on outstanding undesignated commodity hedges were gains of $6 million and $20 million in the three- and nine-month periods ended May 3, 2026, and losses of $10 million and gains of $8 million in the three- and nine-month periods ended April 27, 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 $11 million in the nine-month period ended May 3, 2026, and $4 million and $6 million in the three- and nine-month periods ended April 27, 2025, respectively. Costs associated with an acquisition were $2 million and $4 million in the three- and nine-month periods ended May 3, 2026, respectively. Pension actuarial and curtailment gains of $30 million were included in the three- and nine-month periods ended May 3, 2026 and a postretirement actuarial loss of $2 million was included in the nine-month period ended April 27, 2025. Insurance recoveries of $1 million related to a cybersecurity incident were included in the nine-month periods ended May 3, 2026 and April 27, 2025, respectively. Accelerated amortization expense related to customer relationship intangible assets was $6 million and $20 million in the three- and nine-month periods ended April 27, 2025, respectively. Intangible asset impairment charges were $150 million and $176 million in the three- and nine-month periods ended April 27, 2025, respectively. A loss on the sale of our Pop Secret popcorn business of $25 million was included in the nine-month period ended April 27, 2025.
(3)See Note 8 for additional information.
(4)Represents primarily corporate offices and enterprise-wide information technology systems.
Additional Product Information for Net Sales [Table Text Block]
Our net sales based on product categories are as follows:
Three Months EndedNine Months Ended
(Millions)May 3, 2026April 27, 2025May 3, 2026April 27, 2025
Net sales
Soup$578 $621 $2,234 $2,322 
Snacks1,033 1,068 3,134 3,254 
Other simple meals578 607 1,720 1,825 
Beverages177 179 519 531 
Total$2,366 $2,475 $7,607 $7,932