CAMPBELL SOUP CO - 10-Q filing on 2016-03-10

Restructuring Charges and Cost Savings Initiatives (Tables)

6 Months Ended

Jan. 31, 2016

A summary of the pre-tax costs associated with the 2015 initiatives is as follows:



	Recognized as of January 31, 2016
Severance pay and benefits	$	126
Implementation costs and other related costs	53
Total	$	179

A summary of the restructuring activity and related reserves associated with the 2015 initiatives at January 31, 2016, is as follows:



	Severance Pay and Benefits			Other Restructuring Costs			Implementation Costs and Other Related Costs⁽³⁾	Total Charges
Accrued balance at August 2, 2015⁽¹⁾	$	85		$	8
2016 charges	32			1			22	$	55
2016 cash payments	(20		)	(9		)
Accrued balance at January 31, 2016⁽²⁾	$	97		$	—

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⁽¹⁾	Includes $45 of severance pay and benefits recorded in Other liabilities in the Consolidated Balance Sheet.


⁽²⁾	Includes $43 of severance pay and benefits recorded in Other liabilities in the Consolidated Balance Sheet.


⁽³⁾	Includes other costs recognized as incurred that are not reflected in the restructuring reserve in the Consolidated Balance Sheet. The costs are included in Administrative expenses in the Consolidated Statements of Earnings.

A summary of the pre-tax costs associated with segments is as follows:



	January 31, 2016
	Three Months Ended		Six Months Ended		Costs Incurred to Date
Americas Simple Meals and Beverages	$	6	$	16	$	70
Global Biscuits and Snacks	6		20		64
Campbell Fresh	—		—		1
Corporate	7		19		44
Total	$	19	$	55	$	179

A summary of the pre-tax costs associated with the 2014 initiatives is as follows:

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⁽¹⁾	Recognized as of August 2, 2015.