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v3.25.2

Supplemental Financial Statement Data | 12 Months Ended
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Aug. 03, 2025
Disclosure Text Block Supplement [Abstract] |
Supplemental Financial Information Data | Supplemental Financial Statement Data Balance Sheets
(Millions) | 2025 |  | 2024
Accounts receivable |  |  |
Customer accounts receivable | $ | 558 |  |  | $ | 602 |
Allowances | (17) |  |  | (15) |
Subtotal | $ | 541 |  |  | $ | 587 |
Other | 42 |  |  | 43 |
| $ | 583 |  |  | $ | 630 |
(Millions) | 2025 |  | 2024
Inventories |  |  |
Raw materials, containers and supplies | $ | 407 |  |  | $ | 376 |
Finished products | 1,017 |  |  | 1,010 |
| $ | 1,424 |  |  | $ | 1,386 |
(Millions) | 2025 |  | 2024
Plant assets |  |  |
Land | $ | 74 |  |  | $ | 74 |
Buildings | 1,779 |  |  | 1,702 |
Machinery and equipment | 4,473 |  |  | 4,328 |
Projects in progress | 344 |  |  | 314 |
Total cost | $ | 6,670 |  |  | $ | 6,418 |
Accumulated depreciation(1) | (3,903) |  |  | (3,720) |
| $ | 2,767 |  |  | $ | 2,698 |
__________________________________________ (1)Depreciation expense was $366 million in 2025, $338 million in 2024 and $339 million in 2023. Buildings are depreciated over periods ranging from 7 to 45 years. Machinery and equipment are depreciated over periods generally ranging from 2 to 20 years.
(Millions) | 2025 |  | 2024
Other assets |  |  |
Investments | $ | 5 |  |  | $ | — |
Operating lease ROU assets, net of amortization | 326 |  |  | 333 |
Pension | 128 |  |  | 143 |
Other | 91 |  |  | 78 |
| $ | 550 |  |  | $ | 554 |
(Millions) | 2025 |  | 2024
Accrued liabilities |  |  |
Accrued compensation and benefits | $ | 189 |  |  | $ | 212 |
Fair value of derivatives | 14 |  |  | 16 |
Accrued trade and consumer promotion programs | 159 |  |  | 186 |
Accrued interest | 109 |  |  | 103 |
Restructuring | 19 |  |  | 24 |
Operating lease liabilities | 96 |  |  | 90 |
Other | 102 |  |  | 89 |
| $ | 688 |  |  | $ | 720 |
(Millions) | 2025 |  | 2024
Other liabilities |  |  |
Pension benefits | $ | 88 |  |  | $ | 93 |
Postretirement benefits | 111 |  |  | 128 |
Operating lease liabilities | 259 |  |  | 268 |
Deferred compensation | 88 |  |  | 92 |
Unrecognized tax benefits | 14 |  |  | 17 |
Restructuring | 14 |  |  | 12 |
Other | 64 |  |  | 66 |
| $ | 638 |  |  | $ | 676 |
Statements of Earnings
(Millions) | 2025 |  | 2024 |  | 2023
Other expenses / (income) |  |  |  |  |
Amortization of intangible assets(1) | $ | 68 |  |  | $ | 73 |  |  | $ | 48 |
Net periodic benefit expense (income) other than the service cost | 11 |  |  | 26 |  |  | (35) |
Impairment of intangible assets(2) | 176 |  |  | 129 |  |  | — |
Loss on sales of businesses(3) | 25 |  |  | — |  |  | 13 |
Costs associated with acquisition(4) | — |  |  | 35 |  |  | 5 |
Transition services fees | (4) |  |  | (2) |  |  | (1) |
Other | (3) |  |  | — |  |  | 2 |
| $ | 273 |  |  | $ | 261 |  |  | $ | 32 |
Advertising and consumer promotion expense(5) | $ | 400 |  |  | $ | 350 |  |  | $ | 365 |
Interest expense |  |  |  |  |
Interest expense | $ | 353 |  |  | $ | 259 |  |  | $ | 192 |
Less: Interest capitalized | 8 |  |  | 10 |  |  | 4 |
| $ | 345 |  |  | $ | 249 |  |  | $ | 188 |
__________________________________________ (1)Includes accelerated amortization expense related to customer relationship intangible assets of $20 million, $27 million and $7 million in 2025, 2024 and 2023, respectively. (2)See Note 6 for additional information. (3)See Note 4 for additional information. (4)Related to the acquisition of Sovos Brands. See Note 3 for additional information. (5)Included in Marketing and selling expenses. Statements of Cash Flows
(Millions) | 2025 |  | 2024 |  | 2023
Cash Flows from Operating Activities |  |  |  |  |
Other non-cash charges to net earnings |  |  |  |  |
Operating lease ROU asset expense | $ | 98 |  |  | $ | 90 |  |  | $ | 80 |
Amortization of debt issuance costs/debt discount | 10 |  |  | 8 |  |  | 4 |
Benefit related expense | 4 |  |  | 12 |  |  | 4 |
Other | 7 |  |  | 28 |  |  | 12 |
| $ | 119 |  |  | $ | 138 |  |  | $ | 100 |
Other |  |  |  |  |
Benefit related payments | $ | (36) |  |  | $ | (40) |  |  | $ | (47) |
Other | (5) |  |  | (37) |  |  | (4) |
| $ | (41) |  |  | $ | (77) |  |  | $ | (51) |
Other Cash Flow Information |  |  |  |  |
Interest paid | $ | 330 |  |  | $ | 194 |  |  | $ | 193 |
Interest received | $ | 17 |  |  | $ | 6 |  |  | $ | 4 |
Income taxes paid, net of refunds | $ | 268 |  |  | $ | 252 |  |  | $ | 268 |
Non-cash Investing Activities |  |  |  |  |
Accrued and unpaid capital expenditures | $ | 149 |  |  | $ | 109 |  |  | $ | 122 |

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