The impacts of the changes in policy to the consolidated financial statements are summarized below: | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended January 31, 2016 | | Three months ended February 1, 2015 | Consolidated Statements of Earnings | | Prior Accounting Principles | | Effect of Accounting Change | | As Reported | | Previously Reported | | Effect of Accounting Change | | Recast | Cost of products sold | | $ | 1,404 |
| | $ | (22 | ) | | $ | 1,382 |
| | $ | 1,506 |
| | $ | (15 | ) | | $ | 1,491 |
| Marketing and selling expenses | | 233 |
| | (10 | ) | | 223 |
| | 242 |
| | (3 | ) | | 239 |
| Administrative expenses | | 154 |
| | (8 | ) | | 146 |
| | 140 |
| | (5 | ) | | 135 |
| Research and development expenses | | 26 |
| | (3 | ) | | 23 |
| | 27 |
| | (2 | ) | | 25 |
| Earnings before interest and taxes | | 371 |
| | 43 |
| | 414 |
| | 312 |
| | 25 |
| | 337 |
| Earnings before taxes | | 344 |
| | 43 |
| | 387 |
| | 287 |
| | 25 |
| | 312 |
| Taxes on earnings | | 108 |
| | 14 |
| | 122 |
| | 80 |
| | 10 |
| | 90 |
| Net earnings | | 236 |
| | 29 |
| | 265 |
| | 207 |
| | 15 |
| | 222 |
| Net earnings attributable to Campbell Soup Company | | $ | 236 |
| | $ | 29 |
| | $ | 265 |
| | $ | 207 |
| | $ | 15 |
| | $ | 222 |
| Earnings per share — Basic | | $ | .76 |
| | $ | .09 |
| | $ | .85 |
| | $ | .66 |
| | $ | .05 |
| | $ | .71 |
| Earnings per share — Diluted | | $ | .76 |
| | $ | .09 |
| | $ | .85 |
| | $ | .66 |
| | $ | .05 |
| | $ | .71 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Six months ended January 31, 2016 | | Six months ended February 1, 2015 | Consolidated Statements of Earnings | | Prior Accounting Principles | | Effect of Accounting Change | | As Reported | | Previously Reported | | Effect of Accounting Change | | Recast | Cost of products sold | | $ | 2,816 |
| | $ | 14 |
| | $ | 2,830 |
| | $ | 2,978 |
| | $ | (27 | ) | | $ | 2,951 |
| Marketing and selling expenses | | 449 |
| | — |
| | 449 |
| | 489 |
| | (7 | ) | | 482 |
| Administrative expenses | | 303 |
| | (1 | ) | | 302 |
| | 275 |
| | (9 | ) | | 266 |
| Research and development expenses | | 55 |
| | — |
| | 55 |
| | 56 |
| | (3 | ) | | 53 |
| Earnings before interest and taxes | | 742 |
| | (13 | ) | | 729 |
| | 680 |
| | 46 |
| | 726 |
| Earnings before taxes | | 687 |
| | (13 | ) | | 674 |
| | 630 |
| | 46 |
| | 676 |
| Taxes on earnings | | 218 |
| | (3 | ) | | 215 |
| | 189 |
| | 17 |
| | 206 |
| Net earnings | | 469 |
| | (10 | ) | | 459 |
| | 441 |
| | 29 |
| | 470 |
| Net earnings attributable to Campbell Soup Company | | $ | 469 |
| | $ | (10 | ) | | $ | 459 |
| | $ | 441 |
| | $ | 29 |
| | $ | 470 |
| Earnings per share - Basic | | $ | 1.51 |
| | $ | (.03 | ) | | $ | 1.48 |
| | $ | 1.41 |
| | $ | .09 |
| | $ | 1.50 |
| Earnings per share - Diluted (1) | | $ | 1.50 |
| | $ | (.03 | ) | | $ | 1.47 |
| | $ | 1.40 |
| | $ | .09 |
| | $ | 1.50 |
|
________________________________________________________ (1) The sum of the individual per share amounts may not add due to rounding. | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended January 31, 2016 | | Three months ended February 1, 2015 | Consolidated Statements of Comprehensive Income | | Prior Accounting Principles | | Effect of Accounting Change | | As Reported | | Previously Reported | | Effect of Accounting Change | | Recast | Foreign currency translation: | | | | | | | | | | | | | Foreign currency translation adjustments | | $ | (17 | ) | | $ | — |
| | $ | (17 | ) | | $ | (167 | ) | | $ | 10 |
| | $ | (157 | ) | Pension and other postretirement benefits: | | | | | | | | | | | |
| Net actuarial gain (loss) arising during the period | | 23 |
| | (23 | ) | | — |
| | 13 |
| | (13 | ) | | — |
| Reclassification of net actuarial loss included in net earnings | | 32 |
| | (32 | ) | | — |
| | 24 |
| | (24 | ) | | — |
| Tax benefit / (expense) | | $ | (20 | ) | | $ | 20 |
| | $ | — |
| | $ | (12 | ) | | $ | 12 |
| | $ | — |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Six months ended January 31, 2016 | | Six months ended February 1, 2015 | Consolidated Statements of Comprehensive Income | | Prior Accounting Principles | | Effect of Accounting Change | | As Reported | | Previously Reported | | Effect of Accounting Change | | Recast | Foreign currency translation: | | | | | | | | | | | | | Foreign currency translation adjustments | | $ | (43 | ) | | $ | — |
| | $ | (43 | ) | | $ | (250 | ) | | $ | 12 |
| | $ | (238 | ) | Pension and other postretirement benefits: | | | | | | | | | | | | | Net actuarial gain (loss) arising during the period | | (113 | ) | | 113 |
| | — |
| | 17 |
| | (17 | ) | | — |
| Reclassification of net actuarial loss included in net earnings | | 109 |
| | (109 | ) | | — |
| | 48 |
| | (48 | ) | | — |
| Tax benefit / (expense) | | $ | 2 |
| | $ | (2 | ) | | $ | — |
| | $ | (22 | ) | | $ | 22 |
| | $ | — |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | January 31, 2016 | | August 2, 2015 | Consolidated Balance Sheets | | Prior Accounting Principles | | Effect of Accounting Change | | As Reported | | Previously Reported | | Effect of Accounting Change | | Recast | Inventories | | $ | 862 |
| | $ | (7 | ) | | $ | 855 |
| | $ | 993 |
| | $ | 2 |
| | $ | 995 |
| Other current assets | | 199 |
| | 2 |
| | 201 |
| | 199 |
| | (1 | ) | | 198 |
| Accrued income taxes | | 73 |
| | 2 |
| | 75 |
| | 29 |
| | — |
| | 29 |
| Earnings retained in the business | | 2,767 |
| | (750 | ) | | 2,017 |
| | 2,494 |
| | (740 | ) | | 1,754 |
| Accumulated other comprehensive (loss) income | | $ | (966 | ) | | $ | 743 |
| | $ | (223 | ) | | $ | (909 | ) | | $ | 741 |
| | $ | (168 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Six months ended January 31, 2016 | | Six months ended February 1, 2015 | Consolidated Statements of Cash Flows | | Prior Accounting Principles | | Effect of Accounting Change | | As Reported | | Previously Reported | | Effect of Accounting Change | | Recast | Cash flow from operating activities: | | | | | | | | | | | |
| Net earnings | | $ | 469 |
| | $ | (10 | ) | | $ | 459 |
| | $ | 441 |
| | $ | 29 |
| | $ | 470 |
| Pension and postretirement benefit expense / (income) | | — |
| | 109 |
| | 109 |
| | — |
| | (12 | ) | | (12 | ) | Deferred income taxes | | (9 | ) | | (5 | ) | | (14 | ) | | 1 |
| | 17 |
| | 18 |
| Other, net | | 109 |
| | (105 | ) | | 4 |
| | 46 |
| | (36 | ) | | 10 |
| Inventories | | 124 |
| | 9 |
| | 133 |
| | 71 |
| | 2 |
| | 73 |
| Accounts payable and accrued liabilities | | (32 | ) | | 2 |
| | (30 | ) | | (16 | ) | | — |
| | (16 | ) | Net cash provided by operating activities | | $ | 727 |
| | $ | — |
| | $ | 727 |
| | $ | 584 |
| | $ | — |
| | $ | 584 |
|
|