The Hershey Company (HSY) 10-Q 7 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	6 Months Ended
	Jul. 05, 2015	Jul. 31, 2015	Jun. 27, 2014
Document And Entity Information [Abstract]
Entity Registrant Name	HERSHEY CO
Entity Central Index Key	47,111
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jul. 5, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Public Float			$ 14,349,963,182
Common Class A
Entity Common Stock, Shares Outstanding		158,765,002
Common Class B
Entity Common Stock, Shares Outstanding		60,619,777

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 05, 2015	Jun. 29, 2014	Jul. 05, 2015	Jun. 29, 2014
Net sales	$ 1,578,825	$ 1,578,350	$ 3,516,625	$ 3,450,163
Costs and Expenses
Cost of sales	843,417	860,876	1,880,374	1,861,199
Selling, marketing and administrative	455,545	438,944	969,555	894,746
Goodwill impairment	249,811	0	249,811	0
Business realignment charges	22,552	1,247	25,219	4,172
Total costs and expenses	1,571,325	1,301,067	3,124,959	2,760,117
Operating profit	7,500	277,283	391,666	690,046
Interest expense, net	18,877	20,734	38,079	42,019
Other (income) expense, net	4,759	(181)	(5,081)	8,976
Income before Income Taxes	(16,136)	256,730	358,668	639,051
Provision for income taxes	83,805	88,562	213,872	218,388
Net income (loss)	$ (99,941)	$ 168,168	$ 144,796	$ 420,663
Common Stock
Earnings Per Share
Earnings Per Share - Basic	$ (0.47)	$ 0.78	$ 0.67	$ 1.94
Earnings Per Share - Diluted	(0.47)	0.75	0.65	1.86
Cash Dividends Paid Per Share
Common Stock	0.535	0.485	1.070	0.970
Common Class B
Earnings Per Share
Earnings Per Share - Basic	(0.42)	0.70	0.62	1.74
Earnings Per Share - Diluted	(0.42)	0.70	0.62	1.73
Cash Dividends Paid Per Share
Common Stock	$ 0.486	$ 0.435	$ 0.972	$ 0.870

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 05, 2015	Jun. 29, 2014	Jul. 05, 2015	Jun. 29, 2014
Net income (loss)	$ (99,941)	$ 168,168	$ 144,796	$ 420,663
Other comprehensive (Loss) Income, Net of Tax:
Foreign currency translation adjustments	2,668	5,773	(25,050)	5,305
Pension and post-retirement benefit plans	5,466	3,600	10,927	7,160
Cash flow hedges:
Gains on cash flow hedging derivatives	91,029	7,342	64,937	27,781
Reclassification adjustments	(11,098)	(10,783)	(11,497)	(20,022)
Total Other Comprehensive Income, Net of Tax	88,065	5,932	39,317	20,224
Total comprehensive income (loss)	(11,876)	174,100	184,113	440,887
Comprehensive (gain) loss attributable to redeemable and noncontrolling interests	(578)	0	2,931	0
Comprehensive income (loss) attributable to The Hershey Company	$ (12,454)	$ 174,100	$ 187,044	$ 440,887

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 05, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 302,659	$ 374,854
Short-term investments	99,310	97,131
Accounts receivable - trade, net	443,452	596,940
Inventories	873,996	801,036
Deferred income taxes	79,676	100,515
Prepaid expenses and other	208,354	276,571
Total current assets	2,007,447	2,247,047
Property, plant and equipment, net	2,180,326	2,151,901
Goodwill	711,335	792,955
Other Intangibles	402,567	294,841
Other Long-term Assets	147,655	142,772
Total assets	5,449,330	5,629,516
Liabilities
Accounts payable	423,379	482,017
Accrued liabilities	707,365	813,513
Accrued income taxes	21,101	4,616
Short-term debt	615,702	384,696
Current portion of long-term debt	250,725	250,805
Total current liabilities	2,018,272	1,935,647
Long-term Debt	1,547,399	1,548,963
Other Long-term Liabilities	515,267	526,003
Deferred Income Taxes	130,124	99,373
Total liabilities	4,211,062	4,109,986
Redeemable noncontrolling interest	37,383	0
Stockholders' Equity
Preferred stock, shares issued: none at July 5, 2015 and December 31, 2014, respectively	0	0
Common stock, shares issued: 299,281,967 and 299,281,967 at July 5, 2015 and December 31, 2014, respectively	299,281	299,281
Class B common stock, shares issued: 60,619,777 and 60,619,777 at July 5, 2015 and December 31, 2014, respectively	60,620	60,620
Additional paid-in capital	752,369	754,186
Retained earnings	5,776,618	5,860,784
Treasury – common stock shares, at cost: 140,550,296 and 138,856,786 at July 5, 2015 and December 31, 2014, respectively	(5,422,304)	(5,161,236)
Accumulated other comprehensive loss	(316,325)	(358,573)
The Hershey Company stockholders' equity	1,150,259	1,455,062
Noncontrolling interests in subsidiaries	50,626	64,468
Total stockholders' equity	1,200,885	1,519,530
Total liabilities and stockholders' equity	$ 5,449,330	$ 5,629,516

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Jul. 05, 2015	Dec. 31, 2014
STOCKHOLDERS' EQUITY
Treasury - Common Stock, shares at cost	140,550,296	138,856,786
Preferred Stock
STOCKHOLDERS' EQUITY
Preferred Stock, shares issued	0	0
Common Stock
STOCKHOLDERS' EQUITY
Common Stock, shares issued	299,281,967	299,281,967
Common Class B
STOCKHOLDERS' EQUITY
Common Stock, shares issued	60,619,777	60,619,777

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jul. 05, 2015	Jun. 29, 2014
Cash Flows Provided by Operating Activities
Net income (loss)	$ 144,796	$ 420,663
Adjustments to Reconcile Net Income to Net Cash Flows
Depreciation and amortization	118,801	100,133
Stock-based compensation expense	26,615	27,697
Excess tax benefits from stock-based compensation	(21,111)	(42,965)
Deferred income taxes	(20,044)	(2,002)
Non-cash business realignment charges	257,054	0
Contributions to pension and other benefit plans	(10,664)	(12,645)
Changes in assets and liabilities, net of effects from business acquisitions
Accounts receivable - trade	133,382	55,933
Inventories	(59,773)	(145,913)
Accounts payable and accrued liabilities	(125,746)	(140,835)
Other assets and liabilities	37,638	(88,134)
Net Cash Flows Provided by Operating Activities	480,948	171,932
Cash Flows Used in Investing Activities
Capital additions	(141,450)	(136,509)
Capitalized software additions	(10,903)	(12,581)
Proceeds from sales of property, plant and equipment	1,010	469
Proceeds from sale of business	32,408	0
Business acquisitions, net of cash and cash equivalents acquired	(218,654)	10,035
Payments to Acquire Short-term Investments	0	(97,216)
Net Cash Flows Used in Investing Activities	(337,589)	(235,802)
Cash Flows Used in Financing Activities
Net increase in short-term debt	253,978	19,010
Long-term borrowings	1,564	78
Repayment of long-term debt	(660)	(789)
Cash dividends paid	(228,962)	(209,906)
Exercise of stock options	53,079	89,921
Excess tax benefits from stock-based compensation	21,111	42,965
Contributions from noncontrolling interests	0	2,940
Repurchase of common stock	(315,664)	(436,256)
Net Cash Flows Used in Financing Activities	(215,554)	(492,037)
Decrease in cash and cash equivalents	(72,195)	(555,907)
Cash and Cash Equivalents, beginning of period	374,854	1,118,508
Cash and Cash Equivalents, end of period	302,659	562,601
Interest Paid	42,568	44,064
Income Taxes Paid	$ 214,072	$ 266,527

CONSOLIDATED STATEMENT OF STOCK

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - 6 months ended Jul. 05, 2015 - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings	Treasury Common Stock	Accumulated Other Comprehensive Loss	Noncontrolling Interests in Subsidiaries	Total Stockholders' Equity	Common Class BCommon Stock
Balance at Dec. 31, 2014	$ 1,519,530	$ 0	$ 299,281	$ 754,186	$ 5,860,784	$ (5,161,236)	$ (358,573)	$ 64,468	$ 1,519,530	$ 60,620
Net income	144,796								144,796
Other comprehensive income (loss)	39,317						42,248	(597)	41,651
Common stock, $1.07 per share					(170,040)				(170,040)
Class B common stock, $0.972 per share					(58,922)				(58,922)
Stock-based compensation				25,903					25,903
Exercise of stock options and incentive-based transactions				4,462		54,596			59,058
Repurchase of common stock	(315,664)					(315,664)			(315,664)
Reclassification to redeemable noncontrolling interest	(32,182)			(32,182)
Reclassification to redeemable noncontrolling interest	(13,428)							(13,428)	(45,610)
Income attributable to noncontrolling interest	183							183	183
Balance at Jul. 05, 2015	$ 1,200,885	$ 0	$ 299,281	$ 752,369	$ 5,776,618	$ (5,422,304)	$ (316,325)	$ 50,626	$ 1,200,885	$ 60,620

CONSOLIDATED STATEMENT OF STOC8

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jul. 05, 2015	Jun. 29, 2014	Jul. 05, 2015	Jun. 29, 2014
Common Stock
Common Stock, Dividends, Per Share, Cash Paid	$ 0.535	$ 0.485	$ 1.070	$ 0.970
Common Class B
Common Stock, Dividends, Per Share, Cash Paid	$ 0.486	$ 0.435	$ 0.972	$ 0.870

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jul. 05, 2015
Significant Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The unaudited consolidated financial statements provided in this report include the accounts of The Hershey Company (the “Company,” “Hershey,” “we” or “us”) and our majority-owned subsidiaries and entities in which we have a controlling financial interest after the elimination of intercompany accounts and transactions. We have a controlling financial interest if we own a majority of the outstanding voting common stock and the noncontrolling shareholders do not have substantive participating rights, or we have significant control over an entity through contractual or economic interests in which we are the primary beneficiary. The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial reporting and with the rules and regulations for reporting on Form 10-Q. Accordingly, they do not contain certain information and disclosures required by GAAP for comprehensive financial statements. Our significant interim accounting policies include the recognition of a pro-rata share of certain estimated annual amounts primarily for raw material purchase price variances, advertising expense, incentive compensation expenses and the effective income tax rate. We have included all adjustments (consisting only of normal recurring accruals) that we believe are considered necessary for a fair presentation. Operating results for the quarter ended July 5, 2015 may not be indicative of the results that may be expected for the year ending December 31, 2015 because of seasonal effects on our business. These financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2014 (our “2014 Annual Report on Form 10-K”), which provides a more complete understanding of our accounting policies, financial position, operating results and other matters. Other (Income) Expense, net In the second quarter of 2015, we began presenting a new non-operating "other (income) expense, net" classification to report certain gains and losses associated with activities not directly related to our core operations. For the three and six month periods ended June 29, 2014 , we reclassified from selling, marketing and administrative expenses to other (income) expense, net total net gains of $(181) and net expense of $8,976 , respectively, to conform to the current year presentation. After considering these reclassifications, amounts reflected in other (income) expense, net include the following: Three Months Ended Six Months Ended July 5, June 29, July 5, June 29, Gain on sale of non-core trademark $ — $ — $ (9,950 ) $ — Write-down of equity investments in partnerships qualifying for historic tax credits (see Note 13) 4,644 — 4,644 — Foreign currency exchange loss relating to strategy to cap Shanghai Golden Monkey acquisition price as denominated in U.S. dollars — 20 — 13,109 Gain on acquisition of controlling interest in Lotte Shanghai Food Company — (652 ) — (4,628 ) Other losses, net 115 451 225 495 Total $ 4,759 $ (181 ) $ (5,081 ) $ 8,976 Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers , which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU No. 2014-09 will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard was originally effective for us on January 1, 2017; however, in July 2015 the FASB decided to defer the effective date by one year. Early application is not permitted, but reporting entities may choose to adopt the standard as of the original effective date. The standard permits the use of either the retrospective or cumulative effect transition method. We are currently evaluating the effect that ASU No. 2014-09 will have on our consolidated financial statements and related disclosures, our transition date and transition method. In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs . ASU No. 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This ASU is effective for fiscal years, and interim periods within those fiscal years beginning after December 15, 2015. Retrospective application is required and early adoption is permitted. The adoption of ASU No. 2015-03 is not expected to have a significant impact on our consolidated financial statements or related disclosures. No other new accounting pronouncement issued or effective during the fiscal year had or is expected to have a material impact on our consolidated financial statements or related disclosures.

BUSINESS ACQUISITIONS AND DIVES

BUSINESS ACQUISITIONS AND DIVESTITURES	6 Months Ended
	Jul. 05, 2015
Business Combinations [Abstract]
BUSINESS ACQUISITIONS AND DIVESTITURES	BUSINESS ACQUISITIONS AND DIVESTITURES Acquisitions of businesses are accounted for as purchases and, accordingly, their results of operations are included in the consolidated financial statements from the respective dates of the acquisitions. The purchase price for business acquisitions is allocated to the assets acquired and liabilities assumed. 2015 Acquisition KRAVE Pure Foods In March 2015 , we completed the acquisition of all of the outstanding shares of KRAVE Pure Foods, Inc. (“Krave”), manufacturer of KRAVE jerky, a leading all-natural snack brand of premium jerky products. The transaction will allow Hershey to tap into the rapidly growing meat snacks category and further expand into the broader snacks space. Krave is headquartered in Sonoma, California and generated 2014 annual sales of approximately $35 million . Total purchase consideration includes cash consideration paid to date of $220,016 , as well as agreement to pay additional cash consideration of up to $20,000 to the Krave shareholders if certain defined targets related to net sales and gross profit margin are met or exceeded during the twelve-month periods ending December 31, 2015 or March 31, 2016. The fair value of the contingent cash consideration, estimated to be $16,800 as of the acquisition date, is recorded in accrued liabilities in the Consolidated Balance Sheet. The purchase consideration was allocated to assets acquired and liabilities assumed based on their respective fair values as follows: Goodwill $ 147,089 Trademarks 112,000 Other intangible assets 17,000 Other assets, primarily current assets, net of cash acquired totaling $1,362 9,465 Current liabilities (2,756 ) Non-current deferred tax liabilities (47,344 ) Net assets acquired $ 235,454 Goodwill is calculated as the excess of the purchase price over the fair value of the net assets acquired. The goodwill resulting from the acquisition is attributable primarily to the value of leveraging our brand building expertise, consumer insights, supply chain capabilities and retail relationships to accelerate growth and access to KRAVE products. The recorded goodwill is not expected to be deductible for tax purposes. Acquired trademarks were assigned estimated useful lives of 22 years , while other intangibles, including customer relationships and covenants not to compete, were assigned estimated useful lives ranging from 5 to 16 years . Updates to 2014 Acquisitions A more complete description of our acquisition activity for the year ended December 31, 2014 can be found in Note 2 to the Consolidated Financial Statements included in our 2014 Annual Report on Form 10-K. Shanghai Golden Monkey Food Joint Stock Co., Ltd. (“SGM”) At December 31, 2014, we had recorded a receivable of $37,860 , reflecting our best estimate of the amount due from the selling SGM shareholders for the working capital and net debt adjustments. In addition, at December 31, 2014, we had recorded a liability of $100,067 , reflecting the fair value of the future payment to be made to the SGM shareholders for the remaining 20% of the outstanding shares of SGM. Such amounts are recorded in the Consolidated Balance Sheets within prepaid expenses and other and accrued liabilities, respectively. During the first quarter of 2015, we came to an agreement with the selling SGM shareholders to revise the aforementioned receivable and liability balances to reflect partial settlement of the receivable. As a result, in the first quarter, the receivable was adjusted to $8,685 and the liability was adjusted to $76,815 . Additionally, during the first quarter of 2015, goodwill was increased by $6,623 to recognize revisions to the estimated value of assets and liabilities acquired in the acquisition. During the second quarter, based on our ongoing procedures to assess the quality of acquired trade accounts receivable, we recorded an additional adjustment to increase goodwill by $25,898 to reflect bad debt allowance for an additional amount of trade receivables considered to be uncollectible as of the acquisition date. We are continuing to refine the valuations of acquired assets and liabilities and expect to finalize the purchase price allocation in the third quarter of 2015. Most notably, we continue to conduct additional procedures to assess the valuation of working capital-related balances at the acquisition date. Since the initial acquisition in 2014, the SGM business has performed below expectations, with net sales and earnings levels well below pre-acquisition levels. In addition, as part of our ongoing integration process, we have continued to assess the quality of SGM’s accounts receivable and existing distributor networks. Based on these recent performance levels and the results of our assessment to date, we determined that an interim impairment test of the SGM reporting unit was required by U.S. generally accepted accounting principles. We performed the first step of this test as of July 5, 2015 using an income approach based on our estimates of future performance scenarios for the business. The results of this test indicated that the fair value of the reporting unit was less than the carrying amount as of the measurement date, suggesting that a goodwill impairment was probable, which required us to perform a second step analysis to confirm that an impairment exists and to determine the amount of the impairment based on our reassessed value of the reporting unit. Although preliminary, as a result of this reassessment, in the second quarter of 2015 we recorded an estimated $249,811 non-cash goodwill impairment charge, representing a write-down of all of the goodwill related to the SGM reporting unit. After this write-down, the remaining carrying value of the long-lived assets related to the SGM reporting unit totaled $281,562 . As disclosed above, the initial purchase price allocation for the acquisition is not yet complete. Additional changes in the purchase price allocation could result in changes to the initial balance of goodwill and the preliminary goodwill impairment charge. We expect to finalize the initial purchase price allocation and business valuation assessment in the third quarter of 2015 and additional charges, including charges related to other long-lived assets, may be required. We currently anticipate completing the acquisition of the remaining 20% of SGM in the fourth quarter of 2015, but the timing and terms will be informed by the results of our ongoing assessment. The Allan Candy Company Limited (“Allan”) During the six months ended July 5, 2015, we increased goodwill by $1,820 to recognize revisions to the preliminary fair value of net assets acquired. Pro forma results of operations have not been presented for the above-mentioned acquisitions, as the impact on our consolidated financial statements is not considered to be material. 2015 Divestiture Mauna Loa Macadamia Nut Corporation (“Mauna Loa”) In December 2014, we entered into an agreement to sell the Mauna Loa. The transaction closed in the first quarter of 2015, resulting in proceeds, net of selling expenses and an estimated working capital adjustment, of approximately $32,400 . The sale of Mauna Loa resulted in the recording of an additional loss on sale of $2,667 in the first quarter of 2015, based on updates to the selling expenses and tax benefits. Mauna Loa had historically been reported within our North America segment. Its operations were not material to our annual net sales, net income or earnings per share. Amounts classified as assets and liabilities held for sale at December 31, 2014 were presented within prepaid expenses and other assets and accrued liabilities, respectively, and included the following: Assets held for sale Inventories $ 21,489 Prepaid expenses and other 173 Property, plant and equipment, net 12,691 Other intangibles 12,705 $ 47,058 Liabilities held for sale Accounts payable and accrued liabilities $ 3,726 Other long-term liabilities 9,029 $ 12,755

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	6 Months Ended
	Jul. 05, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS The changes in the carrying value of goodwill by reportable segment for the six months ended July 5, 2015 are as follows: North America International and Other Total Balance at December 31, 2014 $ 533,349 $ 259,606 $ 792,955 Acquired during the period 147,334 — 147,334 Purchase price allocation adjustments 1,575 32,521 34,096 Impairment — (249,811 ) (249,811 ) Foreign currency translation (9,492 ) (3,747 ) (13,239 ) Balance at July 5, 2015 $ 672,766 $ 38,569 $ 711,335 The $249,811 impairment charge noted above resulted from our reassessment of the valuation of SGM business in the second quarter of 2015. See Note 2 for additional information. The following table provides a summary of the major categories of intangible assets: July 5, 2015 December 31, 2014 Intangible assets not subject to amortization: Trademarks $ 45,211 $ 45,000 Intangible assets subject to amortization: Trademarks, customer relationships, patents and other finite-lived intangibles 413,707 295,375 Less: accumulated amortization (56,351 ) (45,534 ) Total other intangible assets $ 402,567 $ 294,841 Total amortization expense for the six months ended July 5, 2015 and June 29, 2014 was $11,129 and $5,043 , respectively.

DEBT AND FINANCING ARRANGEMENTS

DEBT AND FINANCING ARRANGEMENTS	6 Months Ended
	Jul. 05, 2015
Long-term Debt, Unclassified [Abstract]
DEBT AND FINANCING ARRANGEMENTS	DEBT AND FINANCING ARRANGEMENTS As a source of short-term financing, we utilize cash on hand and commercial paper or bank loans with an original maturity of three months or less. We maintain a $1.0 billion unsecured revolving credit facility, which expires in November 2019. At July 5, 2015 , we had outstanding commercial paper totaling $257,476 , at a weighted average interest rate of 0.12% . At December 31, 2014 , we had outstanding commercial paper totaling $54,995 , at a weighted average interest rate of 0.09% . The credit agreement contains certain financial and other covenants, customary representations, warranties and events of default. As of July 5, 2015 , we were in compliance with all covenants pertaining to the credit agreement, and we had no significant compensating balance agreements that legally restricted these funds. For more information, refer to the Consolidated Financial Statements included in our 2014 Annual Report on Form 10-K. In addition to the revolving credit facility, we maintain lines of credit with domestic and international commercial banks. We had short-term foreign bank loans against these lines of credit for $358,226 and $329,701 at July 5, 2015 and December 31, 2014 , respectively. Interest Expense Net interest expense consisted of the following: Three Months Ended Six Months Ended July 5, June 29, July 5, June 29, Interest expense $ 23,259 $ 23,085 $ 46,283 $ 46,399 Interest income (1,156 ) (1,138 ) (1,961 ) (2,084 ) Capitalized interest (3,226 ) (1,213 ) (6,243 ) (2,296 ) Interest expense, net $ 18,877 $ 20,734 $ 38,079 $ 42,019

FINANCIAL INSTRUMENTS AND FAIR

FINANCIAL INSTRUMENTS AND FAIR VALUE	6 Months Ended
	Jul. 05, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
FINANCIAL INSTRUMENTS AND FAIR VALUE	FINANCIAL INSTRUMENTS AND FAIR VALUE We are exposed to market risks arising principally from changes in foreign currency exchange rates, interest rates and commodity prices. We use certain derivative instruments to manage these risks. These include interest rate swaps to manage interest rate risk, foreign currency forward exchange contracts and options to manage foreign currency exchange rate risk, and commodities futures and options contracts to manage commodity market price risk exposures. We also use derivatives that do not qualify for hedge accounting treatment. We account for such derivatives at market value with the resulting gains and losses reflected in the income statement. We do not hold or issue derivative instruments for trading or speculative purposes. In entering into these contracts, we have assumed the risk that might arise from the possible inability of counterparties to meet the terms of their contracts. We mitigate this risk by entering into exchange-traded contracts with collateral posting requirements and/or by performing financial assessments prior to contract execution, conducting periodic evaluations of counterparty performance and maintaining a diverse portfolio of qualified counterparties. We do not expect any significant losses from counterparty defaults. Commodity Price Risk We enter into commodities futures and options contracts and other commodity derivative instruments to reduce the effect of future price fluctuations associated with the purchase of raw materials, energy requirements and transportation services. We generally hedge commodity price risks for 3 - to 24 -month periods. The majority of our commodity derivative instruments meet hedge accounting requirements and are designated as cash flow hedges. We account for the effective portion of mark-to-market gains and losses on commodity derivative instruments in other comprehensive income, to be recognized in cost of sales in the same period that we record the hedged raw material requirements in cost of sales. The ineffective portion of gains and losses is recorded currently in cost of sales. Foreign Exchange Price Risk We are exposed to foreign currency exchange rate risk related to our international operations, including non-functional currency intercompany debt and other non-functional currency transactions of certain subsidiaries. Principal currencies hedged include the euro, Canadian dollar, Malaysian ringgit, Chinese renminbi, Japanese yen, Mexican peso and Brazilian real. We typically utilize foreign currency forward exchange contracts and options to hedge these exposures for periods ranging from 3 to 24 months. The contracts are either designated as cash flow hedges or are undesignated. The net notional amount of foreign exchange contracts accounted for as cash flow hedges was $12,991 at July 5, 2015 and $22,725 at December 31, 2014 . The effective portion of the changes in fair value on these contracts is recorded in other comprehensive income and reclassified into earnings in the same period in which the hedged transactions affect earnings. The net notional amount of foreign exchange contracts that are not designated as accounting hedges was $35,390 at July 5, 2015 and $4,144 at December 31, 2014 . The change in fair value on these instruments is recorded directly in cost of sales or selling, marketing and administrative expense, depending on the nature of the underlying exposure. Interest Rate Risk In order to manage interest rate exposure, from time to time we enter into interest rate swap agreements that effectively convert variable rate debt to a fixed interest rate. These swaps are designated as cash flow hedges, with gains and losses deferred in other comprehensive income to be recognized as an adjustment to interest expense in the same period that the hedged interest payments affect earnings. The notional amount of interest rate derivative instruments in cash flow hedging relationships was $750,000 at July 5, 2015 and December 31, 2014 . We also manage our targeted mix of fixed and floating rate debt with debt issuances and by entering into fixed-to-floating interest rate swaps in order to mitigate fluctuations in earnings and cash flows that may result from interest rate volatility. These swaps are designated as fair value hedges, for which the gain or loss on the derivative and the offsetting loss or gain on the hedged item are recognized in current earnings as interest expense (income), net. The notional amount, interest rate and maturity date of these swaps generally match the principal, interest payment and maturity date of the related debt, and the swaps are valued using observable benchmark rates (Level 2 valuation). The notional amount of interest rate derivative instruments in fair value hedge relationships was $450,000 at July 5, 2015 and December 31, 2014 . Equity Price Risk We are exposed to market price changes in certain broad market indices related to our deferred compensation obligations to our employees. We use equity swap contracts to hedge the portion of the exposure that is linked to market-level equity returns. These contracts are not designated as hedges for accounting purposes and are entered into for periods of 3 to 12 months. The change in fair value of these derivatives is recorded in selling, marketing and administrative expense, together with the change in the related liabilities. The notional amount of contracts outstanding was $24,643 and $26,417 at July 5, 2015 and December 31, 2014 , respectively. Fair Value of Derivative Instruments The following table presents assets and liabilities that were measured at fair value in the Consolidated Balance Sheet on a recurring basis as of July 5, 2015 and December 31, 2014 : July 5, 2015 December 31, 2014 Assets (1) Liabilities (1) Assets (1) Liabilities (1) Derivatives designated as cash flow hedging instruments: Commodities futures and options (2) $ 2,255 $ 515 $ — $ 9,944 Foreign exchange contracts (3) 2,636 2,165 2,196 2,447 Interest rate swap agreements (4) — 21,502 — 29,505 Cross-currency swap agreement (5) 2,737 — 2,016 — 7,628 24,182 4,212 41,896 Derivatives designated as fair value hedging instruments: Interest rate swap agreements (4) 4,800 — 1,746 — Derivatives not designated as hedging instruments: Deferred compensation derivatives (6) 207 — 1,074 — Foreign exchange contracts (3) 451 563 4,049 2,334 658 563 5,123 2,334 Total $ 13,086 $ 24,745 $ 11,081 $ 44,230 (1) Derivative assets are classified on our balance sheet within prepaid expenses and other if current and other assets if non-current. Derivative liabilities are classified on our balance sheet within accrued liabilities if current and other long-term liabilities if non-current. (2) The fair value of commodities futures and options contracts is based on quoted market prices and is, therefore, categorized as Level 1 within the fair value hierarchy. As of July 5, 2015 , prepaid expenses and other reflects the net of assets of $89,967 and accrued liabilities of $87,712 associated with cash transfers receivable or payable on commodities futures contracts reflecting the change in quoted market prices on the last trading day for the period. The comparable amounts reflected on a net basis in accrued liabilities at December 31, 2014 were assets of $51,225 and accrued liabilities of $56,840 . At July 5, 2015 , the amount reflected in accrued liabilities related to the fair value of non-exchange traded derivative instruments. At December 31, 2014 , the remaining amount reflected in liabilities related to the fair value of options contracts and other non-exchange traded derivative instruments. (3) The fair value of foreign currency forward exchange contracts is the difference between the contract and current market foreign currency exchange rates at the end of the period. We estimate the fair value of foreign currency forward exchange contracts on a quarterly basis by obtaining market quotes of spot and forward rates for contracts with similar terms, adjusted where necessary for maturity differences. These contracts are classified as Level 2 within the fair value hierarchy. (4) The fair value of interest rate swap agreements represents the difference in the present value of cash flows calculated at the contracted interest rates and at current market interest rates at the end of the period. We calculate the fair value of interest rate swap agreements quarterly based on the quoted market price for the same or similar financial instruments. Such contracts are categorized as Level 2 within the fair value hierarchy. (5) The fair value of the cross-currency swap agreement is categorized as Level 2 within the fair value hierarchy and is estimated based on the difference between the contract and current market foreign currency exchange rates at the end of the period. (6) The fair value of deferred compensation derivatives is based on quoted prices for market interest rates and a broad market equity index and is, therefore, categorized as Level 2 within the fair value hierarchy. Fair Value of Other Financial Instruments The carrying amounts of cash and cash equivalents, short-term investments, accounts receivable, accounts payable and short-term debt approximated fair value as of July 5, 2015 and December 31, 2014 because of the relatively short maturity of these instruments. The carrying value of long-term debt, including the current portion, was $1,798,124 as of July 5, 2015 , compared with a fair value of $1,947,526 . The estimated fair value of long-term debt is based on quoted market prices for similar debt issues and is, therefore, classified as Level 2 within the valuation hierarchy. Income Statement Impact of Derivative Instruments The effect of derivative instruments on the Consolidated Statements of Income for the three months ended July 5, 2015 and June 29, 2014 was as follows: Non-designated Hedges Cash Flow Hedges Gains (losses) recognized in income (a) Gains (losses) recognized in accumulated other comprehensive income (“OCI”) (effective portion) Gains (losses) reclassified from accumulated OCI into income (effective portion) (b) Gains recognized in income (ineffective portion) (c) 2015 2014 2015 2014 2015 2014 2015 2014 Commodities futures and options $ — $ — $ 112,288 $ 19,312 $ 19,100 $ 12,400 $ 1,141 $ 320 Foreign exchange contracts (209 ) 1,676 (1,744 ) (825 ) (253 ) 3,754 — — Interest rate swap agreements — — 36,357 (6,689 ) (1,124 ) (1,110 ) — — Deferred compensation derivatives 207 1,401 — — — — — — Total $ (2 ) $ 3,077 $ 146,901 $ 11,798 $ 17,723 $ 15,044 $ 1,141 $ 320 (a) Gains (losses) recognized in income for non-designated foreign currency forward exchange contracts and deferred compensation derivatives were included in selling, marketing and administrative expenses. (b) Gains (losses) reclassified from accumulated OCI into income were included in cost of sales for commodities futures and options contracts and for foreign currency forward exchange contracts designated as hedges of purchases of inventory or other productive assets. Other gains (losses) for foreign currency forward exchange contracts were included in selling, marketing and administrative expenses. Losses reclassified from accumulated OCI into income for interest rate swap agreements were included in interest expense. (c) Gains representing hedge ineffectiveness were included in cost of sales for commodities futures and options contracts. The effect of derivative instruments on the Consolidated Statements of Income for the six months ended July 5, 2015 and June 29, 2014 was as follows: Non-designated Hedges Cash Flow Hedges Gains (losses) recognized in income (a) Gains (losses) recognized in accumulated other comprehensive income (“OCI”) (effective portion) Gains (losses) reclassified from accumulated OCI into income (effective portion) (b) Gains (losses) recognized in income (ineffective portion) (c) 2015 2014 2015 2014 2015 2014 2015 2014 Commodities futures and options $ (2,777 ) $ 2,339 $ 97,190 $ 59,267 $ 20,300 $ 28,300 $ 854 $ (92 ) Foreign exchange contracts (276 ) (8,792 ) (504 ) 311 88 3,897 — — Interest rate swap agreements — — 8,003 (15,337 ) (2,313 ) (2,237 ) — — Deferred compensation derivatives 379 1,470 — — — — — — Total $ (2,674 ) $ (4,983 ) $ 104,689 $ 44,241 $ 18,075 $ 29,960 $ 854 $ (92 ) (a) Gains (losses) recognized in income for non-designated commodities futures and options contracts were included in cost of sales. Gains (losses) recognized in income for non-designated foreign currency forward exchange contracts and deferred compensation derivatives were included in selling, marketing and administrative expenses. (b) Gains reclassified from accumulated OCI into income were included in cost of sales for commodities futures and options contracts and for foreign currency forward exchange contracts designated as hedges of purchases of inventory or other productive assets. Other gains for foreign currency forward exchange contracts were included in selling, marketing and administrative expenses. Losses reclassified from accumulated OCI into income for interest rate swap agreements were included in interest expense. (c) Gains (losses) representing hedge ineffectiveness were included in cost of sales for commodities futures and options contracts. The amount of net gains on cash flow hedging derivatives, including interest rate swap agreements, foreign currency forward exchange contracts, and commodities futures and options contracts, expected to be reclassified into income in the next 12 months was approximately $18,275 after tax as of July 5, 2015 . This amount was primarily associated with commodities futures contracts. Fair Value Hedges For the six months ended July 5, 2015 , we recognized a net pretax benefit to interest expense of $4,049 relating to our fixed-to-floating interest rate swap arrangements.

NONCONTROLLING INTERESTS IN SUB

NONCONTROLLING INTERESTS IN SUBSIDIARIES	6 Months Ended
	Jul. 05, 2015
Noncontrolling Interest [Abstract]
NONCONTROLLING INTERESTS IN SUBSIDIARIES	NONCONTROLLING INTERESTS IN SUBSIDIARIES We currently own a 50% controlling interest in Lotte Shanghai Food Company (“LSFC”), a joint venture established in 2007 in China for the purpose of manufacturing and selling product to the venture partners. We also own a 51% controlling interest in Hershey do Brasil under a cooperative agreement with Pandurata Netherlands B.V. (“Bauducco”), a leading manufacturer of baked goods in Brazil whose primary brand is Bauducco. At the end of 2014, per the terms of the prevailing quotaholder’s agreement, Bauducco provided notice of its intent to sell its 49% interest to us at an amount equal to fair value. Because the noncontrolling interest held by Bauducco is redeemable as a result of the put right, the presentation of the noncontrolling interest has been revised to be reflected as a redeemable noncontrolling interest within the balance sheet as of July 5, 2015 . In addition, the balance was increased in the first and second quarters of 2015 by a total of $32,182 , in order to reflect the balance at its estimated redemption value based on the current internal valuation for the business. The offset of this adjustment was recorded to additional paid in capital. Our purchase of the redeemable noncontrolling interest is currently expected to be finalized in the third quarter of 2015, subject to regulatory approval. Noncontrolling Interests Redeemable Noncontrolling Interest Balance, December 31, 2014 $ 64,468 $ — Reclassification from Total Equity to Redeemable Noncontrolling Interest (13,428 ) 13,428 Net gain (loss) attributable to noncontrolling interests (1) 183 (3,547 ) Other comprehensive loss - foreign currency translation adjustments (597 ) (2,334 ) Adjustment to redemption value — 32,182 Other — (2,346 ) Balance, July 5, 2015 $ 50,626 $ 37,383 (1) Amounts are deemed to be immaterial and are presented within selling, marketing and administrative expenses.

COMPREHENSIVE INCOME

COMPREHENSIVE INCOME	6 Months Ended
	Jul. 05, 2015
Comprehensive Income Disclosure [Abstract]
COMPREHENSIVE INCOME	COMPREHENSIVE INCOME A summary of the components of comprehensive income is as follows: Three Months Ended Three Months Ended July 5, 2015 June 29, 2014 Pre-Tax Amount Tax (Expense) Benefit After-Tax Amount Pre-Tax Amount Tax (Expense) Benefit After-Tax Amount Net (loss) income $ (99,941 ) $ 168,168 Other comprehensive income: Foreign currency translation adjustments $ 2,668 $ — 2,668 $ 5,773 $ — 5,773 Pension and post-retirement benefit plans (a) 8,152 (2,686 ) 5,466 5,825 (2,225 ) 3,600 Cash flow hedges: Gains on cash flow hedging derivatives 146,901 (55,872 ) 91,029 11,798 (4,456 ) 7,342 Reclassification adjustments (b) (17,723 ) 6,625 (11,098 ) (15,044 ) 4,261 (10,783 ) Total other comprehensive income $ 139,998 $ (51,933 ) 88,065 $ 8,352 $ (2,420 ) 5,932 Total comprehensive (loss) income $ (11,876 ) $ 174,100 Comprehensive income attributable to redeemable and noncontrolling interests (578 ) — Comprehensive (loss) income attributable to The Hershey Company $ (12,454 ) $ 174,100 Six Months Ended Six Months Ended July 5, 2015 June 29, 2014 Pre-Tax Amount Tax (Expense) Benefit After-Tax Amount Pre-Tax Tax (Expense) After-Tax Net income $ 144,796 $ 420,663 Other comprehensive income: Foreign currency translation adjustments $ (25,050 ) $ — (25,050 ) $ 5,305 $ — 5,305 Pension and post-retirement benefit plans (a) 16,814 (5,887 ) 10,927 11,535 (4,375 ) 7,160 Cash flow hedges: Gains on cash flow hedging derivatives 104,689 (39,752 ) 64,937 44,241 (16,460 ) 27,781 Reclassification adjustments (b) (18,075 ) 6,578 (11,497 ) (29,960 ) 9,938 (20,022 ) Total other comprehensive income $ 78,378 $ (39,061 ) 39,317 $ 31,121 $ (10,897 ) 20,224 Total comprehensive income $ 184,113 $ 440,887 Comprehensive loss attributable to redeemable and noncontrolling interests 2,931 — Comprehensive income attributable to The Hershey Company $ 187,044 $ 440,887 (a) These amounts are included in the computation of net periodic benefit costs. For more information, see Note 11. (b) For information on the presentation of reclassification adjustments for cash flow hedges on the Consolidated Statements of Income, see Note 5. The components of accumulated other comprehensive loss as shown on the Consolidated Balance Sheets are as follows: July 5, December 31, Foreign currency translation adjustments $ (65,800 ) $ (43,681 ) Pension and post-retirement benefit plans, net of tax (273,723 ) (284,650 ) Cash flow hedges, net of tax 23,198 (30,242 ) Total accumulated other comprehensive loss $ (316,325 ) $ (358,573 )

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jul. 05, 2015
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE We compute basic and diluted earnings per share based on the weighted-average number of shares of Common Stock and Class B Common Stock outstanding as follows: Three Months Ended Six Months Ended July 5, June 29, July 5, June 29, Net (loss) income $ (99,941 ) $ 168,168 $ 144,796 $ 420,663 Weighted-average shares – basic: Common stock 158,993 162,168 159,520 162,873 Class B common stock 60,620 60,620 60,620 60,620 Total weighted-average shares – basic: 219,613 222,788 220,140 223,493 Effect of dilutive securities: (1) Employee stock options — 1,913 1,514 2,125 Performance and restricted stock units — 280 281 388 Weighted-average shares – diluted 219,613 224,981 221,935 226,006 Earnings per share – basic: Common stock $ (0.47 ) $ 0.78 $ 0.67 $ 1.94 Class B common stock $ (0.42 ) $ 0.70 $ 0.62 $ 1.74 Earnings per share – diluted: Common stock $ (0.47 ) $ 0.75 $ 0.65 $ 1.86 Class B common stock $ (0.42 ) $ 0.70 $ 0.62 $ 1.73 (1) For the three months ended July 5, 2015, dilutive securities are not included as they are antidilutive in the calculation of earnings per share-diluted when calculated based on a net loss. The Class B Common Stock is convertible into Common Stock on a share for share basis at any time. The calculation of earnings per share-diluted for the Class B Common Stock was performed using the two-class method and the calculation of earnings per share-diluted for the Common Stock was performed using the if-converted method. The earnings per share calculations for the three months ended July 5, 2015 and June 29, 2014 exclude 4,175 and 1,363 stock options, respectively, that would have been antidilutive. The earnings per share calculations for the six months ended July 5, 2015 and June 29, 2014 exclude 2,660 and 1,365 stock options, respectively, that would have been antidilutive.

BUSINESS REALIGNMENT ACTIVITIES

BUSINESS REALIGNMENT ACTIVITIES	6 Months Ended
	Jul. 05, 2015
Restructuring and Related Activities [Abstract]
BUSINESS REALIGNMENT ACTIVITIES	BUSINESS REALIGNMENT ACTIVITIES On June 19, 2015, we announced a new productivity initiative (the “2015 Initiative”) intended to move decision making closer to the customer and the consumer, to enable a more enterprise-wide approach to innovation, to more swiftly advance our knowledge agenda, and to provide for a more efficient cost structure, while ensuring that we effectively allocate resources to future growth areas. Overall, the 2015 Initiative is intended to simplify the organizational structure to enhance the Company's ability to rapidly anticipate and respond to the changing demands of the global consumer. The 2015 Initiative is expected to result in the reduction of approximately 300 positions by the end of 2015, with estimated pre-tax charges and costs of $100 million to $120 million , the majority of which are cash. During the three and six months ended July 5, 2015 , we incurred charges totaling $26,054 , representing employee severance and related separation benefits as well as incremental third-party costs related to the design and implementation of the new organizational structure. The remaining costs for the 2015 Initiative are largely expected to be incurred in the second half of 2015. The tables below provide details for charges incurred across all restructuring and cost reduction activities during the three and six month periods ended July 5, 2015 and June 29, 2014 . Three Months Ended Six Months Ended July 5, June 29, July 5, June 29, Employee related costs $ 22,552 $ — $ 22,552 $ — Asset related costs 2,309 — 4,576 — Other exit costs, including Mauna Loa divestiture — 1,239 2,667 4,265 Other implementation costs 3,964 — 4,170 — Total charges associated with business realignment initiatives $ 28,825 $ 1,239 $ 33,965 $ 4,265 Asset related charges presented in the table above represent accelerated depreciation and amortization charges relating to a program commenced in 2014 to rationalize certain non-U.S. manufacturing and distribution activities. The other exit costs incurred in 2014 primarily relate to the demolition of the Company's former manufacturing facility, representing the final phase of the Project Next Century Program. This program was substantially complete as of December 31, 2014. Charges relating to our business realignment initiatives are classified in our Consolidated Statements of Income as follows: Three Months Ended Six Months Ended July 5, June 29, July 5, June 29, Cost of sales $ 1,328 $ (8 ) $ 2,676 $ 93 Selling, marketing and administrative 4,945 — 6,070 — Business realignment charges: Business realignment and productivity initiatives 22,552 1,247 22,552 4,172 Divestiture of Mauna Loa (see Note 2) — — 2,667 — Total business realignment charges 22,552 1,247 25,219 4,172 Total charges associated with business realignment initiatives $ 28,825 $ 1,239 $ 33,965 $ 4,265 Segment operating results do not include business realignment and related charges because we evaluate segment performance excluding such charges. The following table summarizes our business realignment activity for the six months ended July 5, 2015 : Employee related costs Other exit costs Other implementation costs Total Liability balance at December 31, 2014 $ 79 $ — $ — $ 79 2015 business realignment charges 22,552 — 2,870 25,422 Cash payments — — — — Liability balance at July 5, 2015 $ 22,631 $ — $ 2,870 $ 25,501 The charges reflected in the liability roll-forward above do not include items charged directly to expense, such as accelerated depreciation and amortization and the loss on the Mauna Loa divestiture, as those items are not reflected in the business realignment liability in our Consolidated Balance Sheets.

STOCK COMPENSATION PLAN

STOCK COMPENSATION PLAN	6 Months Ended
	Jul. 05, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK COMPENSATION PLANS	STOCK COMPENSATION PLANS We have various stock-based compensation programs under which awards, including stock options, performance stock units (“PSUs”) and performance stock, stock appreciation rights, restricted stock units (“RSUs”) and restricted stock may be granted to employees, non-employee directors and certain service providers upon whom the successful conduct of our business is dependent. These programs and the accounting treatment related thereto are described in Note 10 to the Consolidated Financial Statements included in our 2014 Annual Report on Form 10-K. For the periods presented, compensation expense for all types of stock-based compensation programs and the related income tax benefit recognized were as follows: Three Months Ended Six Months Ended July 5, June 29, July 5, June 29, Pre-tax compensation expense $ 12,726 $ 14,742 $ 26,615 $ 27,697 Related income tax benefit $ 4,481 $ 5,056 $ 9,342 $ 9,500 As of July 5, 2015 , total stock-based compensation cost related to non-vested awards not yet recognized was $83,544 and the weighted-average period over which this amount is expected to be recognized was approximately 2.3 years . Stock Options A summary of activity relating to grants of stock options for the period ended July 5, 2015 is as follows: Stock Options Shares Weighted-Average Weighted-Average Remaining Aggregate Intrinsic Value Outstanding at beginning of the period 7,319,377 $66.69 6.3 years Granted 1,296,300 $105.72 Exercised (1,077,749 ) $51.33 Forfeited (107,659 ) $88.82 Outstanding as of July 5, 2015 7,430,269 $75.42 6.6 years $ 151,247 Options exercisable as of July 5, 2015 4,256,865 $60.62 5.1 years 134,247 The weighted-average fair value of options granted was $19.26 per share and $21.55 per share for the periods ended July 5, 2015 and June 29, 2014 , respectively. The fair value was estimated on the date of grant using a Black-Scholes option-pricing model and the following weighted-average assumptions: Six Months Ended July 5, June 29, Dividend yields 2.0 % 2.0 % Expected volatility 20.2 % 22.3 % Risk-free interest rates 1.9 % 2.1 % Expected lives in years 6.6 6.7 The total intrinsic value of options exercised was $53,698 and $99,645 for the periods ended July 5, 2015 and June 29, 2014 , respectively. Performance Stock Units and Restricted Stock Units A summary of activity relating to grants of PSUs and RSUs for the period ended July 5, 2015 is as follows: Performance Stock Units and Restricted Stock Units Number of Units Weighted-average grant date fair value for equity awards or market value for liability awards (per unit) Outstanding at beginning of year 904,306 $94.48 Granted 304,972 $108.08 Performance assumption change (258,589 ) $106.13 Vested (377,509 ) $73.13 Forfeited (20,770 ) $105.15 Outstanding as of July 5, 2015 552,410 $106.03 The table above excludes PSU awards for 25,462 units as of December 31, 2014 and 22,827 units as of July 5, 2015 for which the measurement date has not yet occurred for accounting purposes. The following table sets forth information about the fair value of the PSUs and RSUs granted during the periods indicated for potential future distribution to employees and directors. In addition, the table provides assumptions used to determine the fair value of the market-based total shareholder return component of the PSU grants using a Monte Carlo simulation model on the date of grant: Six Months Ended July 5, June 29, Units granted 304,972 301,282 Weighted-average fair value at date of grant (per unit) $108.08 $117.41 Monte Carlo simulation assumptions: Estimated values (per unit) $61.22 $80.95 Dividend yields 2.0 % 1.8 % Expected volatility 14.9 % 15.5 % The intrinsic value of share-based liabilities paid, combined with the fair value of shares vested, totaled $39,433 and $54,933 for the periods ended July 5, 2015 and June 29, 2014 , respectively. Deferred PSUs, deferred RSUs and deferred stock units representing directors’ fees totaled 503,350 units as of July 5, 2015 . Each unit is equivalent to one share of the Company’s Common Stock.

PENSION AND OTHER POST-RETIREME

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS	6 Months Ended
	Jul. 05, 2015
Compensation and Retirement Disclosure [Abstract]
PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS	PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS Components of net periodic benefit cost for the second quarter were as follows: Pension Benefits Other Benefits Three Months Ended Three Months Ended July 5, June 29, July 5, June 29, Service cost $ 6,810 $ 6,448 $ 99 $ 176 Interest cost 10,857 12,200 2,513 2,961 Expected return on plan assets (17,158 ) (18,432 ) — — Amortization of prior service (credit) cost (296 ) (167 ) 153 154 Amortization of net actuarial loss (gains) 7,232 5,935 (29 ) (45 ) Administrative expenses 276 216 39 45 Net periodic benefit cost $ 7,721 $ 6,200 $ 2,775 $ 3,291 We made contributions of $485 and $4,872 to the pension plans and other benefits plans, respectively, during the second quarter of 2015 . In the second quarter of 2014 , we made contributions of $422 and $5,532 to our pension plans and other benefits plans, respectively. These contribution amounts also include benefit payments from our unfunded, non-qualified pension plans and post-retirement benefit plans. Components of net periodic benefit cost for the year-to-date periods were as follows: Pension Benefits Other Benefits Six Months Ended Six Months Ended July 5, June 29, July 5, June 29, Service cost $ 14,233 $ 13,333 $ 271 $ 353 Interest cost 22,162 24,425 5,101 5,851 Expected return on plan assets (34,539 ) (37,018 ) — — Amortization of prior service (credit) cost (587 ) (334 ) 306 308 Amortization of net actuarial loss (gains) 15,304 11,673 (29 ) (71 ) Administrative expenses 508 393 44 55 Net periodic benefit cost $ 17,081 $ 12,472 $ 5,693 $ 6,496 We made contributions of $1,336 and $9,328 to the pension plans and other benefits plans, respectively, during the first six months of 2015. In the first six months of 2014, we made contributions of $1,973 and $10,672 to our pension plans and other benefits plans, respectively. These contribution amounts also include benefit payments from our unfunded, non-qualified pension plans and post-retirement benefit plans. For 2015 , there are no significant minimum funding requirements for our domestic pension plans; however, we expect to make additional contributions of approximately $22,900 to maintain the funded status. Planned voluntary funding of our non-domestic pension plans in 2015 is not material.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jul. 05, 2015
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Our current reporting structure is designed to ensure continued focus on North America, coupled with an emphasis on accelerating growth in our international markets, as we transform into a more global company. Our business is organized around geographic regions and strategic business units. It is designed to enable us to build processes for repeatable success in our global markets. The Presidents of our geographic regions, along with the Senior Vice President responsible for our Global Retail and Licensing business, are accountable for delivering our annual financial plans and report into our Chief Executive Officer, who serves as our Chief Operating Decision Maker (“CODM”), so we have defined our operating segments on a geographic basis. Our North America business currently generates over 85% of our consolidated revenue and none of our other geographic regions are individually significant. We currently define our reportable segments as follows: • North America - This segment is responsible for our traditional chocolate and sugar confectionery market position, as well as our growing snacks and adjacencies market position, in the United States and Canada. This includes developing and growing our business in chocolate, sugar confectionery, refreshment, pantry, food service and other snacking product lines. • International and Other - This segment includes all other countries where The Hershey Company currently manufactures, imports, markets, sells or distributes chocolate, sugar confectionery and other products. Currently, this includes our operations in Mexico, Brazil and Puerto Rico, as well as Europe, Africa, the Middle East and Asia, primarily China, India, Korea, Japan and the Philippines; along with exports to these regions. While a minor component, this segment also includes our global retail operations, including Hershey's Chocolate World stores in Hershey, Pennsylvania, New York City, Chicago, Las Vegas, Shanghai, Niagara Falls (Ontario), Dubai, and Singapore, as well as operations associated with licensing the use of certain of the Company's trademarks and products to third parties around the world. For segment reporting purposes, we use “segment income” to evaluate segment performance and allocate resources. Segment income excludes unallocated general corporate administrative expenses, as well as charges associated with business realignment activities, goodwill impairment charges, acquisition-related costs, the non-service related portion of pension expense and other unusual gains or losses that are not part of our measurement of segment performance. These items of our operating income are managed centrally at the corporate level and are excluded from the measure of segment income reviewed by the CODM. Accounting policies associated with our operating segments are generally the same as those described in Note 1 to the Consolidated Financial Statements included in our 2014 Annual Report on Form 10-K. Certain manufacturing, warehousing, distribution and other activities supporting our global operations are integrated to maximize efficiency and productivity. As a result, assets and capital expenditures are not managed on a segment basis and are not included in the information reported to the CODM for the purpose of evaluating performance or allocating resources. We disclose depreciation and amortization that is generated by segment-specific assets, since these amounts are included within the measure of segment income reported to the CODM. Our segment net sales and earnings were as follows: Three Months Ended Six Months Ended July 5, June 29, 2014 July 5, June 29, Net sales: North America $ 1,399,574 $ 1,374,529 $ 3,106,569 $ 3,033,576 International and Other 179,251 203,821 410,056 416,587 Total $ 1,578,825 $ 1,578,350 3,516,625 3,450,163 Segment income (loss): North America $ 460,667 $ 405,732 $ 1,014,973 $ 944,437 International and Other (44,485 ) (1,478 ) (66,244 ) 5,137 Total segment income 416,182 404,254 948,729 949,574 Unallocated corporate expense (1) 126,794 124,165 265,466 252,343 Goodwill impairment 249,811 — 249,811 — Charges associated with business realignment initiatives 28,825 1,239 33,965 4,265 Non-service related pension expense (income) 931 (297 ) 2,927 (920 ) Acquisition integration costs 2,321 1,864 4,894 3,840 Operating profit 7,500 277,283 391,666 690,046 Interest expense, net 18,877 20,734 38,079 42,019 Other (income) expense, net 4,759 (181 ) (5,081 ) 8,976 Income before income taxes $ (16,136 ) $ 256,730 $ 358,668 $ 639,051 (1) Includes centrally-managed (a) corporate functional costs relating to legal, treasury, finance, and human resources, (b) expenses associated with the oversight and administration of our global operations, including warehousing, distribution and manufacturing, information systems and global shared services, (c) non-cash stock-based compensation expense, and (d) other gains or losses that are not integral to segment performance. Depreciation and amortization expense included within segment income presented above is as follows: Three Months Ended Six Months Ended July 5, June 29, 2014 July 5, June 29, 2014 North America $ 39,439 $ 36,423 $ 74,952 $ 71,450 International and Other 9,090 5,861 20,140 11,633 Corporate, including business realignment 11,934 8,546 23,709 17,050 Total $ 60,463 $ 50,830 $ 118,801 $ 100,133

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jul. 05, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The majority of our taxable income is generated in the U.S. and taxed at the U.S. statutory rate of 35% . The effective tax rates for the six months ended July 5, 2015 and June 29, 2014 were 59.6% and 34.2% , respectively. Adjusting for the impact of the non-deductible goodwill impairment charge discussed in Note 2, the 2015 year to date effective income tax rate was 35.1% , which is higher relative to 2014, since the 2014 rate reflected the benefit of effectively settled U.S. audit issues which did not reoccur in 2015. This increase relative to 2014 was partly offset by benefit from tax credits realized from the investment tax strategy initiated in the second quarter of 2015. Hershey and its subsidiaries file tax returns in the U.S., including various state and local returns, and in other foreign jurisdictions. We believe adequate provision has been made for all income tax uncertainties. We are routinely audited by taxing authorities in our filing jurisdictions, and a number of these audits are currently underway. We reasonably expect reductions in the liability for unrecognized tax benefits of approximately $4,957 within the next 12 months because of the expiration of statutes of limitations and settlements of tax audits. Investments in Partnerships Qualifying for Tax Credits In the second quarter of 2015, the Company made initial investments in partnership entities which make equity investments in projects eligible to receive federal historic tax credits. Our investments are accounted for under the equity method and reported within other assets in our Consolidated Balance Sheets. The tax credits, when realized, are recognized as a reduction of tax expense, at which time the corresponding equity investment is written-down to reflect the remaining value of the future benefits to be realized. For the three months ended July 5, 2015 , we recognized investment tax credits relating to these projects of $5,391 , and we wrote-down the equity investment by $4,644 to reflect the realization of these benefits. The equity investment write-down is reflected within other (income) expense, net in the Consolidated Statements of Income.

INVENTORIES

INVENTORIES	6 Months Ended
	Jul. 05, 2015
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES We value the majority of our U.S. inventories under the last-in, first-out (“LIFO”) method and the remaining inventories at the lower of first-in, first-out (“FIFO”) cost or market. Inventories were as follows: July 5, December 31, Raw materials $ 358,489 $ 377,620 Goods in process 112,867 63,916 Finished goods 616,241 531,608 Inventories at FIFO 1,087,597 973,144 Adjustment to LIFO (213,601 ) (172,108 ) Total inventories $ 873,996 $ 801,036

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	6 Months Ended
	Jul. 05, 2015
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT Major classes of property, plant and equipment were as follows: July 5, December 31, Land $ 95,730 $ 95,913 Buildings 1,071,972 1,031,050 Machinery and equipment 2,891,913 2,863,559 Construction in progress 363,390 338,085 Property, plant and equipment, gross 4,423,005 4,328,607 Accumulated depreciation (2,242,679 ) (2,176,706 ) Property, plant and equipment, net $ 2,180,326 $ 2,151,901

TREASURY STOCK ACTIVITY

TREASURY STOCK ACTIVITY	6 Months Ended
	Jul. 05, 2015
Stockholders' Equity Note [Abstract]
TREASURY STOCK ACTIVITY	TREASURY STOCK ACTIVITY A summary of our treasury stock activity is as follows: Six Months Ended July 5, 2015 Shares Dollars In thousands Shares repurchased under pre-approved share repurchase programs 1,644,328 $ 172,797 Shares repurchased to replace Treasury Stock issued for stock options 1,361,266 142,867 Total share repurchases 3,005,594 315,664 Shares issued for stock options and incentive compensation (1,312,084 ) (54,596 ) Net change 1,693,510 $ 261,068 The $250 million share repurchase program approved by our Board of Directors in February 2014 was completed in the first quarter of 2015. In February 2015, our Board of Directors approved an additional $250 million authorization to repurchase shares of our Common Stock. As of July 5, 2015 , $250 million remained available for repurchases of our Common Stock under this program. We are authorized to purchase our outstanding shares in open market and privately negotiated transactions. The program has no expiration date and acquired shares of Common Stock will be held as treasury shares. Purchases under approved share repurchase authorizations are in addition to our practice of buying back shares sufficient to offset those issued under incentive compensation plans.

CONTINGENCIES

CONTINGENCIES	6 Months Ended
	Jul. 05, 2015
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES In 2007, the Competition Bureau of Canada began an inquiry into alleged violations of the Canadian Competition Act in the sale and supply of chocolate products sold in Canada between 2002 and 2008 by members of the confectionery industry, including Hershey Canada, Inc. The U.S. Department of Justice also notified the Company in 2007 that it had opened an inquiry, but has not requested any information or documents. Subsequently, 13 civil lawsuits were filed in Canada and 91 civil lawsuits were filed in the United States against the Company. The lawsuits were instituted on behalf of direct purchasers of our products as well as indirect purchasers that purchase our products for use or for resale. Several other chocolate and confectionery companies were named as defendants in these lawsuits as they also were the subject of investigations and/or inquiries by the government entities referenced above. The cases sought recovery for losses suffered as a result of alleged conspiracies in restraint of trade in connection with the pricing practices of the defendants. The Canadian civil cases were settled in 2012. Hershey Canada, Inc. reached a settlement agreement with the Competition Bureau of Canada through their Leniency Program with regard to an inquiry into alleged violations of the Canadian Competition Act in the sale and supply of chocolate products sold in Canada by members of the confectionery industry. On June 21, 2013, Hershey Canada, Inc. pleaded guilty to one count of price fixing related to communications with competitors in Canada in 2007 and paid a fine of approximately $4.0 million . Hershey Canada, Inc. had promptly reported the conduct to the Competition Bureau, cooperated fully with its investigation and did not implement the planned price increase that was the subject of the 2007 communications. With regard to the U.S. lawsuits, the Judicial Panel on Multidistrict Litigation assigned the cases to the U.S. District Court for the Middle District of Pennsylvania (the “District Court”). Plaintiffs sought actual and treble damages against the Company and other defendants based on an alleged overcharge for certain, or in some cases all, chocolate products sold in the U.S. between December 2002 and December 2007, and certain plaintiff groups alleged damages that extended beyond the alleged conspiracy period. The lawsuits had been proceeding on different scheduling tracks for different groups of plaintiffs. On February 26, 2014, the District Court granted summary judgment to the Company in the cases brought by the direct purchaser plaintiffs that had not sought class certification as well as those that had been certified as a class. The direct purchaser plaintiffs appealed the District Court's decision to the United States Court of Appeals for the Third Circuit (“Third Circuit”) in May 2014. The appeal remains pending before the Third Circuit. The remaining plaintiff groups - the putative class plaintiffs that purchased product indirectly for resale, the putative class plaintiffs that purchased product indirectly for use, and direct purchaser Associated Wholesale Grocers, Inc. - dismissed their cases with prejudice, subject to reinstatement if the Third Circuit were to reverse the District Court’s summary judgment decision. The District Court entered judgment closing the case on April 17, 2014. Competition and antitrust law investigations can be lengthy and violations are subject to civil and/or criminal fines and other sanctions. Class action civil antitrust lawsuits are expensive to defend and could result in significant judgments, including in some cases, payment of treble damages and/or attorneys' fees to the successful plaintiff. Additionally, negative publicity involving these proceedings could affect our Company's brands and reputation, possibly resulting in decreased demand for our products. These possible consequences, in our opinion, are currently not expected to materially impact our financial position or liquidity, but could materially impact our results of operations and cash flows in the period in which any fines, settlements or judgments are accrued or paid, respectively. We have no other material pending legal proceedings, other than ordinary routine litigation incidental to our business.

SIGNIFICANT ACCOUNTING POLICI26

SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jul. 05, 2015
Significant Accounting Policies [Abstract]
Schedule of Other Nonoperating Income (Expense) [Table Text Block]	After considering these reclassifications, amounts reflected in other (income) expense, net include the following: Three Months Ended Six Months Ended July 5, June 29, July 5, June 29, Gain on sale of non-core trademark $ — $ — $ (9,950 ) $ — Write-down of equity investments in partnerships qualifying for historic tax credits (see Note 13) 4,644 — 4,644 — Foreign currency exchange loss relating to strategy to cap Shanghai Golden Monkey acquisition price as denominated in U.S. dollars — 20 — 13,109 Gain on acquisition of controlling interest in Lotte Shanghai Food Company — (652 ) — (4,628 ) Other losses, net 115 451 225 495 Total $ 4,759 $ (181 ) $ (5,081 ) $ 8,976

BUSINESS ACQUISITIONS AND DIV27

BUSINESS ACQUISITIONS AND DIVESTITURES (Tables)	6 Months Ended
	Jul. 05, 2015
Business Acquisition [Line Items]
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]	Amounts classified as assets and liabilities held for sale at December 31, 2014 were presented within prepaid expenses and other assets and accrued liabilities, respectively, and included the following: Assets held for sale Inventories $ 21,489 Prepaid expenses and other 173 Property, plant and equipment, net 12,691 Other intangibles 12,705 $ 47,058 Liabilities held for sale Accounts payable and accrued liabilities $ 3,726 Other long-term liabilities 9,029 $ 12,755
Krave Pure Foods [Member]
Business Acquisition [Line Items]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	The purchase consideration was allocated to assets acquired and liabilities assumed based on their respective fair values as follows: Goodwill $ 147,089 Trademarks 112,000 Other intangible assets 17,000 Other assets, primarily current assets, net of cash acquired totaling $1,362 9,465 Current liabilities (2,756 ) Non-current deferred tax liabilities (47,344 ) Net assets acquired $ 235,454

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jul. 05, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill [Table Text Block]	The changes in the carrying value of goodwill by reportable segment for the six months ended July 5, 2015 are as follows: North America International and Other Total Balance at December 31, 2014 $ 533,349 $ 259,606 $ 792,955 Acquired during the period 147,334 — 147,334 Purchase price allocation adjustments 1,575 32,521 34,096 Impairment — (249,811 ) (249,811 ) Foreign currency translation (9,492 ) (3,747 ) (13,239 ) Balance at July 5, 2015 $ 672,766 $ 38,569 $ 711,335
Schedule of Finite-Lived Intangible Assets [Table Text Block]	The following table provides a summary of the major categories of intangible assets: July 5, 2015 December 31, 2014 Intangible assets not subject to amortization: Trademarks $ 45,211 $ 45,000 Intangible assets subject to amortization: Trademarks, customer relationships, patents and other finite-lived intangibles 413,707 295,375 Less: accumulated amortization (56,351 ) (45,534 ) Total other intangible assets $ 402,567 $ 294,841

DEBT AND FINANCING ARRANGEMEN29

DEBT AND FINANCING ARRANGEMENTS (Tables)	6 Months Ended
	Jul. 05, 2015
Long-term Debt, Unclassified [Abstract]
Schedule Of Net Interest Expense [Table Text Block]	Net interest expense consisted of the following: Three Months Ended Six Months Ended July 5, June 29, July 5, June 29, Interest expense $ 23,259 $ 23,085 $ 46,283 $ 46,399 Interest income (1,156 ) (1,138 ) (1,961 ) (2,084 ) Capitalized interest (3,226 ) (1,213 ) (6,243 ) (2,296 ) Interest expense, net $ 18,877 $ 20,734 $ 38,079 $ 42,019

FINANCIAL INSTRUMENTS AND FAI30

FINANCIAL INSTRUMENTS AND FAIR VALUE (Tables)	6 Months Ended
	Jul. 05, 2015
Derivative Instruments, Gain (Loss) [Line Items]
The fair value of derivative instruments	The following table presents assets and liabilities that were measured at fair value in the Consolidated Balance Sheet on a recurring basis as of July 5, 2015 and December 31, 2014 : July 5, 2015 December 31, 2014 Assets (1) Liabilities (1) Assets (1) Liabilities (1) Derivatives designated as cash flow hedging instruments: Commodities futures and options (2) $ 2,255 $ 515 $ — $ 9,944 Foreign exchange contracts (3) 2,636 2,165 2,196 2,447 Interest rate swap agreements (4) — 21,502 — 29,505 Cross-currency swap agreement (5) 2,737 — 2,016 — 7,628 24,182 4,212 41,896 Derivatives designated as fair value hedging instruments: Interest rate swap agreements (4) 4,800 — 1,746 — Derivatives not designated as hedging instruments: Deferred compensation derivatives (6) 207 — 1,074 — Foreign exchange contracts (3) 451 563 4,049 2,334 658 563 5,123 2,334 Total $ 13,086 $ 24,745 $ 11,081 $ 44,230 (1) Derivative assets are classified on our balance sheet within prepaid expenses and other if current and other assets if non-current. Derivative liabilities are classified on our balance sheet within accrued liabilities if current and other long-term liabilities if non-current. (2) The fair value of commodities futures and options contracts is based on quoted market prices and is, therefore, categorized as Level 1 within the fair value hierarchy. As of July 5, 2015 , prepaid expenses and other reflects the net of assets of $89,967 and accrued liabilities of $87,712 associated with cash transfers receivable or payable on commodities futures contracts reflecting the change in quoted market prices on the last trading day for the period. The comparable amounts reflected on a net basis in accrued liabilities at December 31, 2014 were assets of $51,225 and accrued liabilities of $56,840 . At July 5, 2015 , the amount reflected in accrued liabilities related to the fair value of non-exchange traded derivative instruments. At December 31, 2014 , the remaining amount reflected in liabilities related to the fair value of options contracts and other non-exchange traded derivative instruments. (3) The fair value of foreign currency forward exchange contracts is the difference between the contract and current market foreign currency exchange rates at the end of the period. We estimate the fair value of foreign currency forward exchange contracts on a quarterly basis by obtaining market quotes of spot and forward rates for contracts with similar terms, adjusted where necessary for maturity differences. These contracts are classified as Level 2 within the fair value hierarchy. (4) The fair value of interest rate swap agreements represents the difference in the present value of cash flows calculated at the contracted interest rates and at current market interest rates at the end of the period. We calculate the fair value of interest rate swap agreements quarterly based on the quoted market price for the same or similar financial instruments. Such contracts are categorized as Level 2 within the fair value hierarchy. (5) The fair value of the cross-currency swap agreement is categorized as Level 2 within the fair value hierarchy and is estimated based on the difference between the contract and current market foreign currency exchange rates at the end of the period. (6) The fair value of deferred compensation derivatives is based on quoted prices for market interest rates and a broad market equity index and is, therefore, categorized as Level 2 within the fair value hierarchy.
Gain (Loss) in Consolidates Statements of Income	The effect of derivative instruments on the Consolidated Statements of Income for the three months ended July 5, 2015 and June 29, 2014 was as follows: Non-designated Hedges Cash Flow Hedges Gains (losses) recognized in income (a) Gains (losses) recognized in accumulated other comprehensive income (“OCI”) (effective portion) Gains (losses) reclassified from accumulated OCI into income (effective portion) (b) Gains recognized in income (ineffective portion) (c) 2015 2014 2015 2014 2015 2014 2015 2014 Commodities futures and options $ — $ — $ 112,288 $ 19,312 $ 19,100 $ 12,400 $ 1,141 $ 320 Foreign exchange contracts (209 ) 1,676 (1,744 ) (825 ) (253 ) 3,754 — — Interest rate swap agreements — — 36,357 (6,689 ) (1,124 ) (1,110 ) — — Deferred compensation derivatives 207 1,401 — — — — — — Total $ (2 ) $ 3,077 $ 146,901 $ 11,798 $ 17,723 $ 15,044 $ 1,141 $ 320 (a) Gains (losses) recognized in income for non-designated foreign currency forward exchange contracts and deferred compensation derivatives were included in selling, marketing and administrative expenses. (b) Gains (losses) reclassified from accumulated OCI into income were included in cost of sales for commodities futures and options contracts and for foreign currency forward exchange contracts designated as hedges of purchases of inventory or other productive assets. Other gains (losses) for foreign currency forward exchange contracts were included in selling, marketing and administrative expenses. Losses reclassified from accumulated OCI into income for interest rate swap agreements were included in interest expense. (c) Gains representing hedge ineffectiveness were included in cost of sales for commodities futures and options contracts. The effect of derivative instruments on the Consolidated Statements of Income for the six months ended July 5, 2015 and June 29, 2014 was as follows: Non-designated Hedges Cash Flow Hedges Gains (losses) recognized in income (a) Gains (losses) recognized in accumulated other comprehensive income (“OCI”) (effective portion) Gains (losses) reclassified from accumulated OCI into income (effective portion) (b) Gains (losses) recognized in income (ineffective portion) (c) 2015 2014 2015 2014 2015 2014 2015 2014 Commodities futures and options $ (2,777 ) $ 2,339 $ 97,190 $ 59,267 $ 20,300 $ 28,300 $ 854 $ (92 ) Foreign exchange contracts (276 ) (8,792 ) (504 ) 311 88 3,897 — — Interest rate swap agreements — — 8,003 (15,337 ) (2,313 ) (2,237 ) — — Deferred compensation derivatives 379 1,470 — — — — — — Total $ (2,674 ) $ (4,983 ) $ 104,689 $ 44,241 $ 18,075 $ 29,960 $ 854 $ (92 ) (a) Gains (losses) recognized in income for non-designated commodities futures and options contracts were included in cost of sales. Gains (losses) recognized in income for non-designated foreign currency forward exchange contracts and deferred compensation derivatives were included in selling, marketing and administrative expenses. (b) Gains reclassified from accumulated OCI into income were included in cost of sales for commodities futures and options contracts and for foreign currency forward exchange contracts designated as hedges of purchases of inventory or other productive assets. Other gains for foreign currency forward exchange contracts were included in selling, marketing and administrative expenses. Losses reclassified from accumulated OCI into income for interest rate swap agreements were included in interest expense. (c) Gains (losses) representing hedge ineffectiveness were included in cost of sales for commodities futures and options contracts.

NONCONTROLLING INTERESTS IN S31

NONCONTROLLING INTERESTS IN SUBSIDIARIES (Tables)	6 Months Ended
	Jul. 05, 2015
Noncontrolling Interest [Abstract]
Redeemable Noncontrolling Interest [Table Text Block]	Our purchase of the redeemable noncontrolling interest is currently expected to be finalized in the third quarter of 2015, subject to regulatory approval. Noncontrolling Interests Redeemable Noncontrolling Interest Balance, December 31, 2014 $ 64,468 $ — Reclassification from Total Equity to Redeemable Noncontrolling Interest (13,428 ) 13,428 Net gain (loss) attributable to noncontrolling interests (1) 183 (3,547 ) Other comprehensive loss - foreign currency translation adjustments (597 ) (2,334 ) Adjustment to redemption value — 32,182 Other — (2,346 ) Balance, July 5, 2015 $ 50,626 $ 37,383 (1) Amounts are deemed to be immaterial and are presented within selling, marketing and administrative expenses.

COMPREHENSIVE INCOME (Tables)

COMPREHENSIVE INCOME (Tables)	6 Months Ended
	Jul. 05, 2015
Comprehensive Income Disclosure [Abstract]
Schedule of Comprehensive Income (Loss)	A summary of the components of comprehensive income is as follows: Three Months Ended Three Months Ended July 5, 2015 June 29, 2014 Pre-Tax Amount Tax (Expense) Benefit After-Tax Amount Pre-Tax Amount Tax (Expense) Benefit After-Tax Amount Net (loss) income $ (99,941 ) $ 168,168 Other comprehensive income: Foreign currency translation adjustments $ 2,668 $ — 2,668 $ 5,773 $ — 5,773 Pension and post-retirement benefit plans (a) 8,152 (2,686 ) 5,466 5,825 (2,225 ) 3,600 Cash flow hedges: Gains on cash flow hedging derivatives 146,901 (55,872 ) 91,029 11,798 (4,456 ) 7,342 Reclassification adjustments (b) (17,723 ) 6,625 (11,098 ) (15,044 ) 4,261 (10,783 ) Total other comprehensive income $ 139,998 $ (51,933 ) 88,065 $ 8,352 $ (2,420 ) 5,932 Total comprehensive (loss) income $ (11,876 ) $ 174,100 Comprehensive income attributable to redeemable and noncontrolling interests (578 ) — Comprehensive (loss) income attributable to The Hershey Company $ (12,454 ) $ 174,100 Six Months Ended Six Months Ended July 5, 2015 June 29, 2014 Pre-Tax Amount Tax (Expense) Benefit After-Tax Amount Pre-Tax Tax (Expense) After-Tax Net income $ 144,796 $ 420,663 Other comprehensive income: Foreign currency translation adjustments $ (25,050 ) $ — (25,050 ) $ 5,305 $ — 5,305 Pension and post-retirement benefit plans (a) 16,814 (5,887 ) 10,927 11,535 (4,375 ) 7,160 Cash flow hedges: Gains on cash flow hedging derivatives 104,689 (39,752 ) 64,937 44,241 (16,460 ) 27,781 Reclassification adjustments (b) (18,075 ) 6,578 (11,497 ) (29,960 ) 9,938 (20,022 ) Total other comprehensive income $ 78,378 $ (39,061 ) 39,317 $ 31,121 $ (10,897 ) 20,224 Total comprehensive income $ 184,113 $ 440,887 Comprehensive loss attributable to redeemable and noncontrolling interests 2,931 — Comprehensive income attributable to The Hershey Company $ 187,044 $ 440,887 (a) These amounts are included in the computation of net periodic benefit costs. For more information, see Note 11. (b) For information on the presentation of reclassification adjustments for cash flow hedges on the Consolidated Statements of Income, see Note 5.
Schedule of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive loss as shown on the Consolidated Balance Sheets are as follows: July 5, December 31, Foreign currency translation adjustments $ (65,800 ) $ (43,681 ) Pension and post-retirement benefit plans, net of tax (273,723 ) (284,650 ) Cash flow hedges, net of tax 23,198 (30,242 ) Total accumulated other comprehensive loss $ (316,325 ) $ (358,573 )

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jul. 05, 2015
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Schedule of Earnings Per Share, Basic and Diluted	We compute basic and diluted earnings per share based on the weighted-average number of shares of Common Stock and Class B Common Stock outstanding as follows: Three Months Ended Six Months Ended July 5, June 29, July 5, June 29, Net (loss) income $ (99,941 ) $ 168,168 $ 144,796 $ 420,663 Weighted-average shares – basic: Common stock 158,993 162,168 159,520 162,873 Class B common stock 60,620 60,620 60,620 60,620 Total weighted-average shares – basic: 219,613 222,788 220,140 223,493 Effect of dilutive securities: (1) Employee stock options — 1,913 1,514 2,125 Performance and restricted stock units — 280 281 388 Weighted-average shares – diluted 219,613 224,981 221,935 226,006 Earnings per share – basic: Common stock $ (0.47 ) $ 0.78 $ 0.67 $ 1.94 Class B common stock $ (0.42 ) $ 0.70 $ 0.62 $ 1.74 Earnings per share – diluted: Common stock $ (0.47 ) $ 0.75 $ 0.65 $ 1.86 Class B common stock $ (0.42 ) $ 0.70 $ 0.62 $ 1.73

BUSINESS REALIGNMENT ACTIVITI34

BUSINESS REALIGNMENT ACTIVITIES (Tables)	6 Months Ended
	Jul. 05, 2015
Restructuring and Related Activities [Abstract]
Business Realignment	The tables below provide details for charges incurred across all restructuring and cost reduction activities during the three and six month periods ended July 5, 2015 and June 29, 2014 . Three Months Ended Six Months Ended July 5, June 29, July 5, June 29, Employee related costs $ 22,552 $ — $ 22,552 $ — Asset related costs 2,309 — 4,576 — Other exit costs, including Mauna Loa divestiture — 1,239 2,667 4,265 Other implementation costs 3,964 — 4,170 — Total charges associated with business realignment initiatives $ 28,825 $ 1,239 $ 33,965 $ 4,265 Asset related charges presented in the table above represent accelerated depreciation and amortization charges relating to a program commenced in 2014 to rationalize certain non-U.S. manufacturing and distribution activities. The other exit costs incurred in 2014 primarily relate to the demolition of the Company's former manufacturing facility, representing the final phase of the Project Next Century Program. This program was substantially complete as of December 31, 2014. Charges relating to our business realignment initiatives are classified in our Consolidated Statements of Income as follows: Three Months Ended Six Months Ended July 5, June 29, July 5, June 29, Cost of sales $ 1,328 $ (8 ) $ 2,676 $ 93 Selling, marketing and administrative 4,945 — 6,070 — Business realignment charges: Business realignment and productivity initiatives 22,552 1,247 22,552 4,172 Divestiture of Mauna Loa (see Note 2) — — 2,667 — Total business realignment charges 22,552 1,247 25,219 4,172 Total charges associated with business realignment initiatives $ 28,825 $ 1,239 $ 33,965 $ 4,265
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	The following table summarizes our business realignment activity for the six months ended July 5, 2015 : Employee related costs Other exit costs Other implementation costs Total Liability balance at December 31, 2014 $ 79 $ — $ — $ 79 2015 business realignment charges 22,552 — 2,870 25,422 Cash payments — — — — Liability balance at July 5, 2015 $ 22,631 $ — $ 2,870 $ 25,501

STOCK COMPENSATION PLAN (Tables

STOCK COMPENSATION PLAN (Tables)	6 Months Ended
	Jul. 05, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Compensation Costs	For the periods presented, compensation expense for all types of stock-based compensation programs and the related income tax benefit recognized were as follows: Three Months Ended Six Months Ended July 5, June 29, July 5, June 29, Pre-tax compensation expense $ 12,726 $ 14,742 $ 26,615 $ 27,697 Related income tax benefit $ 4,481 $ 5,056 $ 9,342 $ 9,500
Schedule of Share-based Compensation, Stock Options, Activity	A summary of activity relating to grants of stock options for the period ended July 5, 2015 is as follows: Stock Options Shares Weighted-Average Weighted-Average Remaining Aggregate Intrinsic Value Outstanding at beginning of the period 7,319,377 $66.69 6.3 years Granted 1,296,300 $105.72 Exercised (1,077,749 ) $51.33 Forfeited (107,659 ) $88.82 Outstanding as of July 5, 2015 7,430,269 $75.42 6.6 years $ 151,247 Options exercisable as of July 5, 2015 4,256,865 $60.62 5.1 years 134,247
Fair Value of Each Stock Option Grant	The fair value was estimated on the date of grant using a Black-Scholes option-pricing model and the following weighted-average assumptions: Six Months Ended July 5, June 29, Dividend yields 2.0 % 2.0 % Expected volatility 20.2 % 22.3 % Risk-free interest rates 1.9 % 2.1 % Expected lives in years 6.6 6.7
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	A summary of activity relating to grants of PSUs and RSUs for the period ended July 5, 2015 is as follows: Performance Stock Units and Restricted Stock Units Number of Units Weighted-average grant date fair value for equity awards or market value for liability awards (per unit) Outstanding at beginning of year 904,306 $94.48 Granted 304,972 $108.08 Performance assumption change (258,589 ) $106.13 Vested (377,509 ) $73.13 Forfeited (20,770 ) $105.15 Outstanding as of July 5, 2015 552,410 $106.03
Schedule Of Share Based Payment Award Market Based Total Shareholder Return Valuation Assumptions	The following table sets forth information about the fair value of the PSUs and RSUs granted during the periods indicated for potential future distribution to employees and directors. In addition, the table provides assumptions used to determine the fair value of the market-based total shareholder return component of the PSU grants using a Monte Carlo simulation model on the date of grant: Six Months Ended July 5, June 29, Units granted 304,972 301,282 Weighted-average fair value at date of grant (per unit) $108.08 $117.41 Monte Carlo simulation assumptions: Estimated values (per unit) $61.22 $80.95 Dividend yields 2.0 % 1.8 % Expected volatility 14.9 % 15.5 %

PENSION AND OTHER POST-RETIRE36

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS (Tables)	6 Months Ended
	Jul. 05, 2015
Compensation and Retirement Disclosure [Abstract]
Schedule of Defined Benefit Plans Disclosures	Components of net periodic benefit cost for the second quarter were as follows: Pension Benefits Other Benefits Three Months Ended Three Months Ended July 5, June 29, July 5, June 29, Service cost $ 6,810 $ 6,448 $ 99 $ 176 Interest cost 10,857 12,200 2,513 2,961 Expected return on plan assets (17,158 ) (18,432 ) — — Amortization of prior service (credit) cost (296 ) (167 ) 153 154 Amortization of net actuarial loss (gains) 7,232 5,935 (29 ) (45 ) Administrative expenses 276 216 39 45 Net periodic benefit cost $ 7,721 $ 6,200 $ 2,775 $ 3,291 We made contributions of $485 and $4,872 to the pension plans and other benefits plans, respectively, during the second quarter of 2015 . In the second quarter of 2014 , we made contributions of $422 and $5,532 to our pension plans and other benefits plans, respectively. These contribution amounts also include benefit payments from our unfunded, non-qualified pension plans and post-retirement benefit plans. Components of net periodic benefit cost for the year-to-date periods were as follows: Pension Benefits Other Benefits Six Months Ended Six Months Ended July 5, June 29, July 5, June 29, Service cost $ 14,233 $ 13,333 $ 271 $ 353 Interest cost 22,162 24,425 5,101 5,851 Expected return on plan assets (34,539 ) (37,018 ) — — Amortization of prior service (credit) cost (587 ) (334 ) 306 308 Amortization of net actuarial loss (gains) 15,304 11,673 (29 ) (71 ) Administrative expenses 508 393 44 55 Net periodic benefit cost $ 17,081 $ 12,472 $ 5,693 $ 6,496

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jul. 05, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Our segment net sales and earnings were as follows: Three Months Ended Six Months Ended July 5, June 29, 2014 July 5, June 29, Net sales: North America $ 1,399,574 $ 1,374,529 $ 3,106,569 $ 3,033,576 International and Other 179,251 203,821 410,056 416,587 Total $ 1,578,825 $ 1,578,350 3,516,625 3,450,163 Segment income (loss): North America $ 460,667 $ 405,732 $ 1,014,973 $ 944,437 International and Other (44,485 ) (1,478 ) (66,244 ) 5,137 Total segment income 416,182 404,254 948,729 949,574 Unallocated corporate expense (1) 126,794 124,165 265,466 252,343 Goodwill impairment 249,811 — 249,811 — Charges associated with business realignment initiatives 28,825 1,239 33,965 4,265 Non-service related pension expense (income) 931 (297 ) 2,927 (920 ) Acquisition integration costs 2,321 1,864 4,894 3,840 Operating profit 7,500 277,283 391,666 690,046 Interest expense, net 18,877 20,734 38,079 42,019 Other (income) expense, net 4,759 (181 ) (5,081 ) 8,976 Income before income taxes $ (16,136 ) $ 256,730 $ 358,668 $ 639,051 (1) Includes centrally-managed (a) corporate functional costs relating to legal, treasury, finance, and human resources, (b) expenses associated with the oversight and administration of our global operations, including warehousing, distribution and manufacturing, information systems and global shared services, (c) non-cash stock-based compensation expense, and (d) other gains or losses that are not integral to segment performance. Depreciation and amortization expense included within segment income presented above is as follows: Three Months Ended Six Months Ended July 5, June 29, 2014 July 5, June 29, 2014 North America $ 39,439 $ 36,423 $ 74,952 $ 71,450 International and Other 9,090 5,861 20,140 11,633 Corporate, including business realignment 11,934 8,546 23,709 17,050 Total $ 60,463 $ 50,830 $ 118,801 $ 100,133

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jul. 05, 2015
Inventory Disclosure [Abstract]
Schedule Of Inventory	Inventories were as follows: July 5, December 31, Raw materials $ 358,489 $ 377,620 Goods in process 112,867 63,916 Finished goods 616,241 531,608 Inventories at FIFO 1,087,597 973,144 Adjustment to LIFO (213,601 ) (172,108 ) Total inventories $ 873,996 $ 801,036

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	6 Months Ended
	Jul. 05, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Major classes of property, plant and equipment were as follows: July 5, December 31, Land $ 95,730 $ 95,913 Buildings 1,071,972 1,031,050 Machinery and equipment 2,891,913 2,863,559 Construction in progress 363,390 338,085 Property, plant and equipment, gross 4,423,005 4,328,607 Accumulated depreciation (2,242,679 ) (2,176,706 ) Property, plant and equipment, net $ 2,180,326 $ 2,151,901

TREASURY STOCK ACTIVITY (Tables

TREASURY STOCK ACTIVITY (Tables)	6 Months Ended
	Jul. 05, 2015
Stockholders' Equity Note [Abstract]
Cumulative Share Repurchases And Issuances	A summary of our treasury stock activity is as follows: Six Months Ended July 5, 2015 Shares Dollars In thousands Shares repurchased under pre-approved share repurchase programs 1,644,328 $ 172,797 Shares repurchased to replace Treasury Stock issued for stock options 1,361,266 142,867 Total share repurchases 3,005,594 315,664 Shares issued for stock options and incentive compensation (1,312,084 ) (54,596 ) Net change 1,693,510 $ 261,068

SIGNIFICANT ACCOUNTING POLICI41

SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 05, 2015	Jun. 29, 2014	Jul. 05, 2015	Jun. 29, 2014
Summary of Significant Accounting Policies [Line Items]
Gain on sale of trademark licensing rights, net of tax of	$ 0	$ 0	$ (9,950)	$ 0
Equity Method Investment, Other than Temporary Impairment	4,644	0	4,644	0
Derivative Instruments Not Designated as Hedging Instruments, Loss	0	20	0	13,109
Extraordinary Item, Gain (Loss), Net of Tax, Attributable to Noncontrolling Interest	0	(652)	0	(4,628)
Other Nonoperating Expense	115	451	225	495
Other Nonoperating Income (Expense)	$ 4,759	$ (181)	$ (5,081)	$ 8,976

BUSINESS ACQUISITIONS AND DIV42

BUSINESS ACQUISITIONS AND DIVESTITURES (Details) - USD ($) $ in Thousands	Dec. 31, 2014	Apr. 05, 2015	Jul. 05, 2015	Apr. 05, 2015	Jun. 29, 2014	Jul. 05, 2015	Jun. 29, 2014
Business Acquisition [Line Items]
Goodwill, Acquired During Period						$ 147,334
Goodwill, Purchase Accounting Adjustments						34,096
Goodwill impairment			$ 249,811		$ 0	249,811	$ 0
Proceeds from sale of business						32,408	0
Gain (Loss) on Disposition of Business			0		$ 0	2,667	$ 0
Shanghai Golden Monkey [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred, Liabilities Incurred	$ 100,067					76,815
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	20.00%
Business Combination, Acquired Receivables, Fair Value	$ 37,860		8,685			8,685
Goodwill, Purchase Accounting Adjustments			25,898	$ 6,623
Goodwill impairment			249,811
Long-Lived Assets			281,562			281,562
Krave Pure Foods [Member]
Business Acquisition [Line Items]
Business Acquisition, Effective Date of Acquisition		Mar. 1, 2015
Business Acquisition, Revenue Reported by Acquired Entity for Last Annual Period		$ 35,000
Business Combination, Consideration Transferred		220,016
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High			20,000			20,000
Business Combination, Liabilities Arising from Contingencies, Amount Recognized			16,800			16,800
Goodwill, Acquired During Period		147,089
Cash Acquired from Acquisition		$ 1,362
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other			9,465			9,465
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities			(2,756)			(2,756)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent			(47,344)			(47,344)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net			235,454			235,454
Krave Pure Foods [Member] | Customer-Related Intangible Assets [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles			17,000			17,000
Krave Pure Foods [Member] | Trademarks [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles			$ 112,000			112,000
Finite-Lived Intangible Asset, Useful Life		22 years
The Allan Candy Company [Member]
Business Acquisition [Line Items]
Goodwill, Purchase Accounting Adjustments						1,820
Minimum [Member] | Krave Pure Foods [Member] | Customer-Related Intangible Assets [Member]
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life		5 years
Maximum [Member] | Krave Pure Foods [Member] | Customer-Related Intangible Assets [Member]
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life		16 years
Mauna Loa [Member]
Business Acquisition [Line Items]
Proceeds from sale of business						32,400
Gain (Loss) on Disposition of Business						$ 2,667
Disposal Group, Including Discontinued Operation, Inventory	21,489
Disposal Group, Including Discontinued Operation, Prepaid and Other Assets	173
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment	12,691
Disposal Group, Including Discontinued Operation, Intangible Assets	12,705
Disposal Group, Including Discontinued Operation, Assets	47,058
Disposal Group, Including Discontinued Operation, Accounts Payable and Accrued Liabilities	3,726
Disposal Group, Including Discontinued Operation, Liabilities, Noncurrent	9,029
Disposal Group, Including Discontinued Operation, Liabilities	$ 12,755

GOODWILL AND INTANGIBLE ASSET43

GOODWILL AND INTANGIBLE ASSETS (Details) - Consolidation Items [Domain] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 05, 2015	Jun. 29, 2014	Jul. 05, 2015	Jun. 29, 2014	Dec. 31, 2014
Goodwill [Line Items]
Goodwill			$ 792,955
Goodwill, Acquired During Period			147,334
Goodwill, Purchase Accounting Adjustments			34,096
Goodwill, Impairment Loss	$ (249,811)	$ 0	(249,811)	$ 0
Goodwill, Translation Adjustments			(13,239)
Goodwill	711,335		711,335
Indefinite-Lived Trade Names	45,211		45,211		$ 45,000
Finite-Lived Intangible Assets, Gross	413,707		413,707		295,375
Finite-Lived Intangible Assets, Accumulated Amortization	(56,351)		(56,351)		(45,534)
Other Intangibles	402,567		402,567		$ 294,841
Amortization of Intangible Assets			11,129	$ 5,043
North America [Member]
Goodwill [Line Items]
Goodwill			533,349
Goodwill, Acquired During Period			147,334
Goodwill, Purchase Accounting Adjustments			1,575
Goodwill, Impairment Loss			0
Goodwill, Translation Adjustments			(9,492)
Goodwill	672,766		672,766
International and Other [Member]
Goodwill [Line Items]
Goodwill			259,606
Goodwill, Acquired During Period			0
Goodwill, Purchase Accounting Adjustments			32,521
Goodwill, Impairment Loss			(249,811)
Goodwill, Translation Adjustments			(3,747)
Goodwill	$ 38,569		$ 38,569

DEBT AND FINANCING ARRANGEMEN44

DEBT AND FINANCING ARRANGEMENTS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 05, 2015	Jun. 29, 2014	Jul. 05, 2015	Jun. 29, 2014	Dec. 31, 2014
Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,000,000		$ 1,000,000
Commercial Paper	257,476		257,476		$ 54,995
Interest expense	23,259	$ 23,085	46,283	$ 46,399
Interest income	(1,156)	(1,138)	(1,961)	(2,084)
Capitalized interest	(3,226)	(1,213)	(6,243)	(2,296)
Interest expense, net	$ 18,877	$ 20,734	$ 38,079	$ 42,019
Commercial Paper [Member]
Debt [Line Items]
Short-term Debt, Weighted Average Interest Rate	0.12%		0.12%		0.09%
Foreign Line of Credit [Member]
Debt [Line Items]
Line of Credit, Current	$ 358,226		$ 358,226		$ 329,701

FINANCIAL INSTRUMENTS AND FAI45

FINANCIAL INSTRUMENTS AND FAIR VALUE (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 05, 2015	Jun. 29, 2014	Jul. 05, 2015	Jun. 29, 2014	Dec. 31, 2014
Balance Sheet Caption
Cash Flow Hedge Derivative Instrument Assets at Fair Value	$ 7,628,000		$ 7,628,000		$ 4,212,000
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value	658,000		658,000		5,123,000
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	24,182,000		24,182,000		41,896,000
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	563,000		563,000		2,334,000
Derivative Asset Current Commodity Last Day Activity	89,967,000		89,967,000		51,225,000
Derivative Liability Current Commodity Last Day Activity	87,712,000		87,712,000		56,840,000
Long-term Debt	1,798,124,000		1,798,124,000
Long-term Debt, Fair Value	1,947,526,000		1,947,526,000
Schedule Of Derivative Instruments Gain Loss In Statement Of Financial Performance [Abstract]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(2,000)	$ 3,077,000	(2,674,000)	$ (4,983,000)
Gains (losses) recognized in other comprehensive income (OCI)(effective portion)	146,901,000	11,798,000	104,689,000	44,241,000
Gains (losses) reclassified from accumulated OCI into income (effective portion)	17,723,000	15,044,000	18,075,000	29,960,000
Gains (losses) recognized in income (ineffective portion)	1,141,000	320,000	854,000	(92,000)
Derivative, Gain (Loss) on Derivative, Net			4,049,000
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months (after tax)			$ 18,275,000
Commodity [Member]
Derivatives, Fair Value [Line Items]
Minimum Length of Time Hedged in Cash Flow Hedge			3 months
Maximum Length of Time Hedged in Cash Flow Hedge			24 months
Commodities Futures and Options Contracts
Schedule Of Derivative Instruments Gain Loss In Statement Of Financial Performance [Abstract]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	0	0	$ (2,777,000)	2,339,000
Gains (losses) recognized in other comprehensive income (OCI)(effective portion)	112,288,000	19,312,000	97,190,000	59,267,000
Gains (losses) reclassified from accumulated OCI into income (effective portion)	19,100,000	12,400,000	20,300,000	28,300,000
Gains (losses) recognized in income (ineffective portion)	1,141,000	320,000	$ 854,000	(92,000)
Foreign Exchange Forward Contracts
Derivatives, Fair Value [Line Items]
Minimum Length of Time Hedged in Cash Flow Hedge			3 months
Maximum Length of Time Hedged in Cash Flow Hedge			24 months
Net notional amount of foreign exchange contracts accounted for as cash flow hedges	12,991,000		$ 12,991,000		22,725,000
Net notional amount of foreign exchange contracts that are not designated as accounting hedges	35,390,000		35,390,000		4,144,000
Schedule Of Derivative Instruments Gain Loss In Statement Of Financial Performance [Abstract]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(209,000)	1,676,000	(276,000)	(8,792,000)
Gains (losses) recognized in other comprehensive income (OCI)(effective portion)	(1,744,000)	(825,000)	(504,000)	311,000
Gains (losses) reclassified from accumulated OCI into income (effective portion)	(253,000)	3,754,000	88,000	3,897,000
Gains (losses) recognized in income (ineffective portion)	0	0	0	0
Interest Rate Swap Agreements
Schedule Of Derivative Instruments Gain Loss In Statement Of Financial Performance [Abstract]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	0	0	0	0
Gains (losses) recognized in other comprehensive income (OCI)(effective portion)	36,357,000	(6,689,000)	8,003,000	(15,337,000)
Gains (losses) reclassified from accumulated OCI into income (effective portion)	(1,124,000)	(1,110,000)	(2,313,000)	(2,237,000)
Gains (losses) recognized in income (ineffective portion)	0	0	0	0
Equity Swap
Derivatives, Fair Value [Line Items]
Notional amount of interest rate derivative instruments	24,643,000		24,643,000		26,417,000
Schedule Of Derivative Instruments Gain Loss In Statement Of Financial Performance [Abstract]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	207,000	1,401,000	379,000	1,470,000
Gains (losses) recognized in other comprehensive income (OCI)(effective portion)	0	0	0	0
Gains (losses) reclassified from accumulated OCI into income (effective portion)	0	0	0	0
Gains (losses) recognized in income (ineffective portion)	0	$ 0	$ 0	$ 0
Minimum Length of Time Hedged in Fair Value Hedge			3 months
Maximum Length of Time Hedged in Fair Value Hedge			12 months
Fair Value, Inputs, Level 1 | Commodity [Member]
Balance Sheet Caption
Cash Flow Hedge Derivative Instrument Assets at Fair Value	2,255,000		$ 2,255,000		0
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	515,000		515,000		9,944,000
Fair Value, Inputs, Level 2 | Foreign Exchange Forward Contracts
Balance Sheet Caption
Cash Flow Hedge Derivative Instrument Assets at Fair Value	2,636,000		2,636,000		2,196,000
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value	451,000		451,000		4,049,000
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	2,165,000		2,165,000		2,447,000
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	563,000		563,000		2,334,000
Fair Value, Inputs, Level 2 | Interest Rate Swap Agreements
Derivatives, Fair Value [Line Items]
Fair Value Hedge Assets	4,800,000		4,800,000		1,746,000
Fair Value Hedge Liabilities	0		0		0
Balance Sheet Caption
Cash Flow Hedge Derivative Instrument Assets at Fair Value	0		0		0
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	21,502,000		21,502,000		29,505,000
Fair Value, Inputs, Level 2 | Equity Swap
Balance Sheet Caption
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value	207,000		207,000		1,074,000
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	0		0		0
Fair Value, Inputs, Level 2 | Cross Currency Swap
Balance Sheet Caption
Cash Flow Hedge Derivative Instrument Assets at Fair Value	2,737,000		2,737,000		2,016,000
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	0		0		0
Liability [Member]
Schedule Of Derivative Instruments Gain Loss In Statement Of Financial Performance [Abstract]
Derivative Liability, Fair Value, Gross Liability	24,745,000		24,745,000		44,230,000
Assets [Member]
Balance Sheet Caption
Derivative Asset, Fair Value, Gross Asset	13,086,000		13,086,000		11,081,000
Cash Flow Hedging [Member] | Interest Rate Swap Agreements
Derivatives, Fair Value [Line Items]
Notional amount of interest rate derivative instruments	750,000,000		750,000,000		750,000,000
Fair Value Hedging [Member] | Interest Rate Swap Agreements
Derivatives, Fair Value [Line Items]
Notional amount of interest rate derivative instruments	$ 450,000,000		$ 450,000,000		$ 450,000,000

NONCONTROLLING INTERESTS IN S46

NONCONTROLLING INTERESTS IN SUBSIDIARIES (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 05, 2015	Dec. 31, 2014	Jun. 29, 2014
Minority Interest [Line Items]
Noncontrolling interests in subsidiaries	$ 64,468
Reclassification to redeemable noncontrolling interest	(13,428)
Noncontrolling interests' share of losses in subsidiaries	183
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Noncontrolling Interest	(597)
Other Noncontrolling Interests	0
Noncontrolling interests in subsidiaries	50,626
Redeemable noncontrolling interest	37,383
Redeemable Noncontrolling Interest, Equity, Carrying Amount	13,428
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest	(3,547)
Temporary Equity, Foreign Currency Translation Adjustments	(2,334)
Noncontrolling Interest, Change in Redemption Value	32,182
Temporary Equity, Other Changes	(2,346)
Redeemable noncontrolling interest	$ 37,383	$ 0	$ 0
Hershey Do Brasil Subsidiary [Member]
Minority Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	51.00%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	49.00%
Lotte Shanghai Food Company [Member]
Minority Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	50.00%

COMPREHENSIVE INCOME (Details)

COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 05, 2015	Jun. 29, 2014	Jul. 05, 2015	Jun. 29, 2014	Dec. 31, 2014
Other comprehensive income (loss) Pre-Tax Amount:
Foreign currency translation adjustments	$ 2,668	$ 5,773	$ (25,050)	$ 5,305
Pension and post-retirement benefit plans	8,152	5,825	16,814	11,535
Cash Flow Hedges:
Gains (losses) on cash flow hedging derivatives	146,901	11,798	104,689	44,241
Reclassification adjustments	(17,723)	(15,044)	(18,075)	(29,960)
Total other comprehensive income (loss)	139,998	8,352	78,378	31,121
Other comprehensive income Tax (Expense) Benefit:
Foreign currency translation adjustments	0	0	0	0
Pension and post-retirement benefit plans	(2,686)	(2,225)	(5,887)	(4,375)
Cash Flow Hedges:
Gains (losses) on cash flow hedging derivatives	(55,872)	(4,456)	(39,752)	(16,460)
Reclassification adjustments	6,625	4,261	6,578	9,938
Total Other Comprehensive Income (loss)	(51,933)	(2,420)	(39,061)	(10,897)
Comprehensive income (loss) After-Tax Amount:
Net income (loss)	(99,941)	168,168	144,796	420,663
Other Comprehensive Income (Loss) After-Tax Amount:
Foreign currency translation adjustments	2,668	5,773	(25,050)	5,305
Pension and postretirement benefit plans	5,466	3,600	10,927	7,160
Cash Flow Hedges:
Gains (losses) on cash flow hedging derivatives	91,029	7,342	64,937	27,781
Reclassification adjustments	(11,098)	(10,783)	(11,497)	(20,022)
Total other comprehensive income (loss)	88,065	5,932	39,317	20,224
Total comprehensive income (loss)	(11,876)	174,100	184,113	440,887
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest	(578)	0	2,931	0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	(12,454)	$ 174,100	187,044	$ 440,887
Components of Accumulated Other Comprehensive (Loss) Abstract
Foreign currency translation adjustments	(65,800)		(65,800)		$ (43,681)
Pension and post-retirement benefit plans, net of tax	(273,723)		(273,723)		(284,650)
Cash flow hedges, net of tax	23,198		23,198		(30,242)
Total accumulated other comprehensive loss	$ (316,325)		$ (316,325)		$ (358,573)

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 05, 2015	Jun. 29, 2014	Jul. 05, 2015	Jun. 29, 2014
Schedule of Earnings Per Share Basic And Diluted By Common Class [Line Items]
Net income (loss)	$ (99,941)	$ 168,168	$ 144,796	$ 420,663
Weighted-average shares - Basic	219,613	222,788	220,140	223,493
Weighted-average number of shares outstanding, diluted	219,613	224,981	221,935	226,006
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,175	1,363	2,660	1,365
Common Stock
Schedule of Earnings Per Share Basic And Diluted By Common Class [Line Items]
Weighted-average shares - Basic	158,993	162,168	159,520	162,873
Earnings Per Share - Basic	$ (0.47)	$ 0.78	$ 0.67	$ 1.94
Earnings Per Share - Diluted	$ (0.47)	$ 0.75	$ 0.65	$ 1.86
Common Class B
Schedule of Earnings Per Share Basic And Diluted By Common Class [Line Items]
Weighted-average shares - Basic	60,620	60,620	60,620	60,620
Earnings Per Share - Basic	$ (0.42)	$ 0.70	$ 0.62	$ 1.74
Earnings Per Share - Diluted	$ (0.42)	$ 0.70	$ 0.62	$ 1.73
Employee Stock Option [Member]
Schedule of Earnings Per Share Basic And Diluted By Common Class [Line Items]
Weighted-Average Number Diluted Shares Outstanding Adjustment	0	1,913	1,514	2,125
Performance and restricted stock units
Schedule of Earnings Per Share Basic And Diluted By Common Class [Line Items]
Weighted-Average Number Diluted Shares Outstanding Adjustment	0	280	281	388

BUSINESS REALIGNMENT ACTIVITI49

BUSINESS REALIGNMENT ACTIVITIES (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 05, 2015USD ($)	Jun. 29, 2014USD ($)	Jul. 05, 2015USD ($)	Jun. 29, 2014USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 22,552	$ 1,247	$ 22,552	$ 4,172
Restructuring and Related Cost, Accelerated Depreciation	2,309	0	4,576	0
Total business realignment charges	28,825	1,239	33,965	4,265
Gain (Loss) on Disposition of Business	0	0	2,667	0
Total business realignment charges	22,552	1,247	25,219	4,172
Restructuring Reserve			79
Restructuring and Related Cost, Incurred Cost			25,422
Payments for Restructuring			0
Restructuring Reserve	25,501		25,501
Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	1,328	(8)	2,676	93
Selling, General and Administrative Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	4,945	0	$ 6,070	0
2015 Initiative [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Number of Positions Eliminated			300
Restructuring Charges	26,054		$ 26,054
2015 Initiative [Member] | Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	100,000		100,000
2015 Initiative [Member] | Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	120,000		120,000
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	22,552	0	22,552	0
Restructuring Reserve			79
Restructuring and Related Cost, Incurred Cost			22,552
Payments for Restructuring			0
Restructuring Reserve	22,631		22,631
Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	1,239	2,667	4,265
Restructuring Reserve			0
Restructuring and Related Cost, Incurred Cost			0
Payments for Restructuring			0
Restructuring Reserve	0		0
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	3,964	$ 0	4,170	$ 0
Restructuring Reserve			0
Restructuring and Related Cost, Incurred Cost			2,870
Payments for Restructuring			0
Restructuring Reserve	$ 2,870		$ 2,870

STOCK COMPENSATION PLANS (Detai

STOCK COMPENSATION PLANS (Details) - Stock Compensation Costs - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 05, 2015	Jun. 29, 2014	Jul. 05, 2015	Jun. 29, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Total compensation amount charged against income for stock options, performance stock units and restricted stock units	$ 12,726	$ 14,742	$ 26,615	$ 27,697
Total income tax benefit recognized in the Consolidated Statements of Income for stock-based compensation	4,481	$ 5,056	9,342	$ 9,500
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	$ 83,544		$ 83,544
Weighted Average Period In Years That Total Unrecognized Compensation Cost is Expected To be Recognized			2 years 4 months

STOCK COMPENSATION PLAN (Detail

STOCK COMPENSATION PLAN (Details) - Stock Options - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended		12 Months Ended
	Jul. 05, 2015	Jun. 29, 2014	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning of period	7,319,377
Granted	1,296,300
Exercised	(1,077,749)
Forfeited	(107,659)
Outstanding as of end of period	7,430,269		7,319,377
Options exercisable as of end of period	4,256,865
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding at beginning of the period	$ 66.69
Granted	105.72
Exercised	51.33
Forfeited	88.82
Outstanding as of end of period	75.42		$ 66.69
Options Exercisable as of end of period	$ 60.62
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Aggregate intrinsic value of options outstanding	$ 151,247
Aggregate intrinsic value of options exercisable	$ 134,247
Weighted-average fair value of options granted (per share)	$ 19.26	$ 21.55
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Dividend yields	2.00%	2.00%
Expected volatility	20.20%	22.30%
Risk-free interest rates	1.90%	2.10%
Expected lives in years	6 years 7 months	6 years 8 months
Intrinsic value of options exercised	$ 53,698	$ 99,645
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	6 years 7 months		6 years 4 months
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	6 years 7 months		6 years 4 months
Options Exercisable as of end of period	5 years 1 month

STOCK COMPENSATION PLAN (Deta52

STOCK COMPENSATION PLAN (Details) - Performance Stock Units and Restricted Stock Units - USD ($)	6 Months Ended
	Jul. 05, 2015	Jun. 29, 2014	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award
Outstanding at beginning of year	904,306
Granted	304,972	301,282
Performance assumption change	(258,589)
Vested	(377,509)
Forfeited	(20,770)
Outstanding as of end of period	552,410
Outstanding as of beginning of year	$ 94.48
Granted	108.08	$ 117.41
Performance assumption change	106.13
Vested	73.13
Forfeited	105.15
Outstanding as of end of period	$ 106.03
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number Excluded	22,827		25,462
Fair Value of Performance Stock Units and Restricted Stock Units [Abstract]
PSU Fair Value Monte Carlo Simulation Estimated Value (per unit)	$ 61.22	$ 80.95
PSU Fair Value Monte Carlo Simulation Dividend Yields	2.00%	1.80%
PSU Fair Value Monte Carlo Simulation Expected Volatility	14.90%	15.50%
Intrinsic value of share-based liabilities paid, combined with the fair value of shares vested	$ 39,433,000	$ 54,933,000
Deferred performance stock units, deferred restricted stock units representing directors' fees (units)	503,350
Performance Stock Units and Restricted Stock Units [Member]
Fair Value of Performance Stock Units and Restricted Stock Units [Abstract]
Number of shares of common stock into which another unit of deferred performance stock and restricted stock is converted	one

PENSION AND OTHER POST-RETIRE53

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 05, 2015	Jun. 29, 2014	Jul. 05, 2015	Jun. 29, 2014	Dec. 31, 2015
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 6,810	$ 6,448	$ 14,233	$ 13,333
Interest cost	10,857	12,200	22,162	24,425
Expected return on plan assets	(17,158)	(18,432)	(34,539)	(37,018)
Amortization of prior service (credit) cost	(296)	(167)	(587)	(334)
Amortization of net actuarial loss (gains)	7,232	5,935	15,304	11,673
Administrative expenses	276	216	508	393
Net periodic benefit cost	7,721	6,200	17,081	12,472
Pension Contributions	485	422	1,336	1,973
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	99	176	271	353
Interest cost	2,513	2,961	5,101	5,851
Expected return on plan assets	0	0	0	0
Amortization of prior service (credit) cost	153	154	306	308
Amortization of net actuarial loss (gains)	(29)	(45)	(29)	(71)
Administrative expenses	39	45	44	55
Net periodic benefit cost	2,775	3,291	5,693	6,496
Pension Contributions	$ 4,872	$ 5,532	$ 9,328	$ 10,672
Scenario, Forecast [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Voluntary Employer Contributions					$ 22,900

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 05, 2015	Jun. 29, 2014	Jul. 05, 2015	Jun. 29, 2014
Segment Reporting Information [Line Items]
Net sales	$ 1,578,825	$ 1,578,350	$ 3,516,625	$ 3,450,163
Operating Income (Loss)	7,500	277,283	391,666	690,046
Goodwill impairment	249,811	0	249,811	0
Total Business Realignment And Impairment Charges	28,825	1,239	33,965	4,265
Interest Income (Expense), Nonoperating, Net	18,877	20,734	38,079	42,019
Other (income) expense, net	4,759	(181)	(5,081)	8,976
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	(16,136)	256,730	358,668	639,051
Depreciation, Depletion and Amortization	60,463	50,830	$ 118,801	100,133
North America [Member]
Segment Reporting Information [Line Items]
Revenue, Net			85.00%
Net sales	1,399,574	1,374,529	$ 3,106,569	3,033,576
Operating Income (Loss)	460,667	405,732	1,014,973	944,437
Goodwill impairment			0
Depreciation, Depletion and Amortization	39,439	36,423	74,952	71,450
International and Other [Member]
Segment Reporting Information [Line Items]
Net sales	179,251	203,821	410,056	416,587
Operating Income (Loss)	(44,485)	(1,478)	(66,244)	5,137
Goodwill impairment			249,811
Depreciation, Depletion and Amortization	9,090	5,861	20,140	11,633
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Depreciation, Depletion and Amortization	11,934	8,546	23,709	17,050
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	416,182	404,254	948,729	949,574
Unallocated Corporate Items [Member] | Corporate Segment [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	(126,794)	(124,165)	(265,466)	(252,343)
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Goodwill impairment	249,811	0	249,811	0
Total Business Realignment And Impairment Charges	28,825	1,239	33,965	4,265
Non-service related pension expense (income)	931	(297)	2,927	(920)
Business Combination, Integration Related Costs	$ 2,321	$ 1,864	$ 4,894	$ 3,840

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 05, 2015	Jun. 29, 2014	Jul. 05, 2015	Jun. 29, 2014
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			35.00%
Effective Income Tax Rate Reconciliation, Percent			59.60%	34.20%
Adjusted Effective Income Tax Rate Reconciliation, Percent			35.10%
Reduction in liability for unrecognized tax benefits	$ 4,957		$ 4,957
Income Tax Credits and Adjustments	5,391
Equity Method Investment, Other than Temporary Impairment	$ 4,644	$ 0	$ 4,644	$ 0

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Jul. 05, 2015	Dec. 31, 2014
Inventories Table
Raw materials	$ 358,489	$ 377,620
Goods in process	112,867	63,916
Finished goods	616,241	531,608
Inventories at FIFO	1,087,597	973,144
Adjustment to LIFO	(213,601)	(172,108)
Total inventories	$ 873,996	$ 801,036

PROPERTY, PLANT AND EQUIPMENT57

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	Jul. 05, 2015	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Land	$ 95,730	$ 95,913
Buildings	1,071,972	1,031,050
Machinery and Equipment	2,891,913	2,863,559
Construction in Progress, Gross	363,390	338,085
Property, Plant and Equipment, Gross	4,423,005	4,328,607
Accumulated Depreciation	(2,242,679)	(2,176,706)
Property, Plant and Equipment, Net	$ 2,180,326	$ 2,151,901

TREASURY STOCK ACTIVITY (Detail

TREASURY STOCK ACTIVITY (Details) - Jul. 05, 2015 - USD ($) $ in Thousands	Total
Cumulative Share Repurchases and Issuances Abstract
Shares repurchased in the open market under pre-approved share repurchase programs	1,644,328
Shares repurchased to replace Treasury Stock issued for stock options and incentive compensation	1,361,266
Total share repurchases	3,005,594
Shares issued for stock options and incentive compensation	(1,312,084)
Net Change	1,693,510
Value of shares repurchased in the open market under pre-approved share repurchase programs	$ 172,797
Value of shares repurchased to replace Treasury Stock issued for stock options and incentive compensation	142,867
Total Share Repurchases	315,664
Value of shares issued for stock options and incentive compensation	(54,596)
Net Change In Value	261,068
2014 Share Repurchase Program [Member]
Accelerated Share Repurchases [Line Items]
Approved share repurchase program	250,000
2015 Share Repurchase Program [Member]
Accelerated Share Repurchases [Line Items]
Available for repurchase under approved share repurchase program	250,000
Approved share repurchase program	$ 250,000

CONTINGENCIES (Details)

CONTINGENCIES (Details) $ in Millions	Jun. 21, 2013USD ($)	Jul. 05, 2015
Canada [Member]
Loss Contingencies [Line Items]
Loss Contingency, Pending Claims, Number		13
Litigation Settlement, Amount	$ 4
US [Member]
Loss Contingencies [Line Items]
Loss Contingency, Pending Claims, Number		91