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v3.25.2

Segment Information (Tables) | 12 Months Ended
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Aug. 03, 2025
Segment Reporting [Abstract] |
Schedule Of Segment Reporting [Table Text Block] |
|  | 2025 |  | 2024 |  | 2023
(Millions) |  | Meals & Beverages |  | Snacks |  | Total |  | Meals & Beverages |  | Snacks |  | Total |  | Meals & Beverages |  | Snacks |  | Total
Net sales |  | $ | 6,050 |  |  | $ | 4,203 |  |  | $ | 10,253 |  |  | $ | 5,258 |  |  | $ | 4,378 |  |  | $ | 9,636 |  |  | $ | 4,907 |  |  | $ | 4,450 |  |  | $ | 9,357 |
Cost of products sold |  | 4,140 |  |  | 2,970 |  |  |  |  | 3,532 |  |  | 3,063 |  |  |  |  | 3,292 |  |  | 3,151 |  |  |
Other segment items(1) |  | 834 |  |  | 673 |  |  |  |  | 752 |  |  | 667 |  |  |  |  | 721 |  |  | 659 |  |  |
Segment operating earnings |  | $ | 1,076 |  |  | $ | 560 |  |  | $ | 1,636 |  |  | $ | 974 |  |  | $ | 648 |  |  | $ | 1,622 |  |  | $ | 894 |  |  | $ | 640 |  |  | $ | 1,534 |
Corporate expense (income)(2) |  |  |  |  |  | 488 |  |  |  |  |  |  | 584 |  |  |  |  |  |  | 206
Restructuring charges(3) |  |  |  |  |  | 24 |  |  |  |  |  |  | 38 |  |  |  |  |  |  | 16
Earnings before interest and taxes |  |  |  |  |  | $ | 1,124 |  |  |  |  |  |  | $ | 1,000 |  |  |  |  |  |  | $ | 1,312 |
Interest expense |  |  |  |  |  | 345 |  |  |  |  |  |  | 249 |  |  |  |  |  |  | 188 |
Interest income |  |  |  |  |  | 17 |  |  |  |  |  |  | 6 |  |  |  |  |  |  | 4 |
Earnings before taxes |  |  |  |  |  | $ | 796 |  |  |  |  |  |  | $ | 757 |  |  |  |  |  |  | $ | 1,128 |
(Millions) |  | 2025 |  | 2024 |  | 2023
Depreciation and amortization |  |  |  |  |  |
Meals & Beverages |  | $ | 177 |  |  | $ | 163 |  |  | $ | 151 |
Snacks |  | 234 |  |  | 228 |  |  | 211 |
Corporate(4) |  | 23 |  |  | 20 |  |  | 25 |
Total |  | $ | 434 |  |  | $ | 411 |  |  | $ | 387 |
(Millions) |  | 2025 |  | 2024 |  | 2023
Capital expenditures |  |  |  |  |  |
Meals & Beverages |  | $ | 195 |  |  | $ | 147 |  |  | $ | 129 |
Snacks |  | 148 |  |  | 279 |  |  | 199 |
Corporate(4) |  | 83 |  |  | 91 |  |  | 42 |
Total |  | $ | 426 |  |  | $ | 517 |  |  | $ | 370 |
______________________________________ (1)Other segment items for each of the reportable segments includes marketing and selling expenses, administrative expenses, research and development expenses and expense for amortization of intangible assets. (2)Represents unallocated items. Pension and postretirement actuarial gains and losses are included in Corporate. There were actuarial losses of $24 million in 2025, losses of $33 million in 2024 and gains of $15 million in 2023. Costs related to the cost savings and optimization initiatives were $101 million, $92 million and $50 million in 2025, 2024 and 2023, respectively. Unrealized mark-to-market adjustments on outstanding undesignated commodity hedges were gains of $11 million in 2025, losses of $22 million in 2024 and gains of $21 million in 2023. Accelerated amortization expense related to customer relationship intangible assets was $20 million, $27 million and $7 million in 2025, 2024 and 2023, respectively. Intangible asset impairment charges were $176 million and $129 million in 2025 and 2024, respectively. Insurance recoveries of $1 million and costs of $3 million related to a cybersecurity incident were included in 2025 and 2024, 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 $5 million in 2025 and 2024. A loss on the sale of our Pop Secret popcorn business of $25 million was included in 2025 and a loss on the sale of our Emerald nuts business of $13 million was included in 2023. Costs associated with the acquisition of Sovos Brands were $105 million and $5 million in 2024 and 2023, respectively. (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:
(Millions) |  | 2025 |  | 2024 |  | 2023
Net sales |  |  |  |  |  |
Soup |  | $ | 2,776 |  |  | $ | 2,709 |  |  | $ | 2,740 |
Snacks |  | 4,431 |  |  | 4,597 |  |  | 4,643 |
Other simple meals |  | 2,325 |  |  | 1,618 |  |  | 1,205 |
Beverages |  | 721 |  |  | 712 |  |  | 769 |
Total |  | $ | 10,253 |  |  | $ | 9,636 |  |  | $ | 9,357 |

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