Business Combinations (Tables)

12 Months Ended

Aug. 02, 2026

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Schedule of Business Combinations, La Regina Consideration Table

Total purchase consideration for the 49% interests in La Regina was $299 million, which was determined as follows:


(Millions)
Cash consideration paid to La Regina shareholders at closing(1)	$	146
Deferred consideration payable to La Regina shareholders on the first anniversary of closing(2)	133
Contingent consideration payable to La Regina SPA shareholders upon receipt of grants(3)	20
Total consideration	$	299

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(1) Represents the first tranche of consideration paid to La Regina shareholders at the closing date.

(2) Represents the estimated closing date fair value of the second tranche of consideration payable to La Regina shareholders on May 4, 2027, which is reflected as a liability measured at fair value in the Consolidated Balance Sheet. Fair value was determined based on the present value of the obligation using an appropriate discount rate. The obligation will be accreted to the amount payable with changes recognized in Interest expense.

(3) Represents the estimated closing date fair value of the payment to the La Regina SPA shareholders contingent upon the amount received by La Regina for grants, which is reflected as a contingent consideration liability at fair value in the Consolidated Balance Sheet. Fair value of the obligation and grant receivable was determined using a probability-weighted discounted cash flow analysis, based on the estimated timing of cash flows, probability of the amount of the grants received and using an appropriate discount rate. Changes in fair value will be recognized in earnings.

Business Combination, Recognized Asset Acquired and Liability Assumed [Table Text Block]

The table below presents the fair value that was allocated to the acquired assets and assumed liabilities:


(Millions)	Estimated Fair Value
Cash and cash equivalents	$	147
Accounts receivable	29
Inventories	109
Other current assets	24
Plant assets	151
Other assets	28
Total assets acquired	$	488
Short-term borrowings	$	124
Accounts payable	49
Accrued liabilities	7
Accrued income taxes	1
Long-term debt	36
Deferred taxes	3
Other liabilities	4
Total liabilities assumed	$	224
Net assets acquired	$	264
Goodwill	335
Less: Noncontrolling interests(1)	300
Total consideration	$	299

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(1) The fair value of the noncontrolling interests was determined based on the implied total equity value of the transaction, adjusted for the value of the put and call options. The value of the options was estimated using an option pricing approach, incorporating assumptions about expected volatility, time to exercise and risk-free interest rates. The redeemable noncontrolling interests are recorded as temporary equity in the Consolidated Balance Sheet.

Schedule of Business Combinations, Sovos Consideration Table

Total purchase consideration was $2.899 billion, which was determined as follows:


(Millions)
Cash consideration paid to Sovos Brands shareholders(1)	$	2,307
Cash paid for share-based awards(2)	32
Cash consideration paid directly to shareholders	$	2,339
Cash paid for transaction costs of Sovos Brands	32
Repayment of Sovos Brands existing indebtedness and accrued interest	486
Total cash consideration	$	2,857
Fair value of replacement share-based awards(3)	42
Total consideration	$	2,899

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(1) Consideration paid to Sovos Brands shareholders which reflects $23.00 per share.

(2) Represents cash paid to equity award holders of Sovos Brands restricted stock and restricted stock unit awards attributable to pre-combination service. This excludes $3 million of cash paid that was recognized as expense.

(3) We issued replacement equity awards in settlement of certain Sovos Brands equity awards that did not become vested in connection with the acquisition. The portion of fair value of the replacement awards attributable to pre-combination service was $42 million and is included in the purchase consideration. We recognized $26 million of expense related to accelerated vesting of certain replacement awards.

Business Combination, Pro Forma Information [Table Text Block]

The following unaudited summary information is presented on a consolidated pro forma basis as if the Sovos Brands acquisition had occurred on August 1, 2022:



(Millions)	2024

Net sales	$	10,354
Net earnings attributable to The Campbell's Company	$	592