Percentage Of Actual Returns

  
  
Schedule II  
CAMPBELL SOUP COMPANYValuation and Qualifying Accounts  
For the Fiscal Years ended July 31, 2022, August 1, 2021, and August 2, 2020  
This schedule of valuation and qualifying accounts for continuing operations should be read in conjunction with the Consolidated Financial Statements. This schedule excludes amounts related to discontinued operations. See Note 3 to the Consolidated Financial Statements for additional information.

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (Millions) | Balance at Beginning of Period |  | Charged to/(Reduction in) CostsandExpenses |  | Deductions |  | Divestiture |  | Balance atEnd ofPeriod |
| Fiscal year ended July 31, 2022 |  |  |  |  |  |  |  |  |  |
| Cash discount | $ | 6  |  |  | $ | 136  |  |  | $ | (137) |  |  | $ | —  |  |  | $ | 5  |  |
| Bad debt reserve | 2  |  |  | 2  |  |  | —  |  |  | —  |  |  | 4  |  |
| Returns reserve(1) | 4  |  |  | (1) |  |  | —  |  |  | —  |  |  | 3  |  |
| Total Accounts receivable allowances | $ | 12  |  |  | $ | 137  |  |  | $ | (137) |  |  | $ | —  |  |  | $ | 12  |  |
|  |  |  |  |  |  |  |  |  |  |
| Fiscal year ended August 1, 2021 |  |  |  |  |  |  |  |  |  |
| Cash discount | $ | 6  |  |  | $ | 137  |  |  | $ | (137) |  |  | $ | —  |  |  | $ | 6  |  |
| Bad debt reserve | 4  |  |  | —  |  |  | (2) |  |  | —  |  |  | 2  |  |
| Returns reserve(1) | 4  |  |  | —  |  |  | —  |  |  | —  |  |  | 4  |  |
| Total Accounts receivable allowances | $ | 14  |  |  | $ | 137  |  |  | $ | (139) |  |  | $ | —  |  |  | $ | 12  |  |
|  |  |  |  |  |  |  |  |  |  |
| Fiscal year ended August 2, 2020 |  |  |  |  |  |  |  |  |  |
| Cash discount | $ | 6  |  |  | $ | 139  |  |  | $ | (139) |  |  | $ | —  |  |  | $ | 6  |  |
| Bad debt reserve | 3  |  |  | 2  |  |  | —  |  |  | (1) |  |  | 4  |  |
| Returns reserve(1) | 4  |  |  | 1  |  |  | (1) |  |  | —  |  |  | 4  |  |
| Total Accounts receivable allowances | $ | 13  |  |  | $ | 142  |  |  | $ | (140) |  |  | $ | (1) |  |  | $ | 14  |  |

\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_(1)The returns reserve is evaluated quarterly and adjusted accordingly. During each period, returns are charged to net sales in the Consolidated Statements of Earnings as incurred. Actual returns were approximately $110 million in 2022, $100 million in 2021, and $99 million in 2020, or less than 2% of net sales.84