The Hershey Company (HSY) 10-Q 29 Apr 16 2016 Q1 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - USD ($)	3 Months Ended
	Apr. 03, 2016	Apr. 22, 2016	Jul. 02, 2015
Document Information [Line Items]
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	Apr. 3, 2016
Document fiscal year focus	2,016
Document fiscal period focus	Q1
Amendment flag	false
Entity well-known seasoned issuer	Yes
Entity voluntary filers	No
Entity current reporting status	Yes
Entity Public Float			$ 13,110,173,681
Common stock
Document Information [Line Items]
Entity common stock, shares outstanding (shares)		152,753,106
Class B common stock
Document Information [Line Items]
Entity common stock, shares outstanding (shares)		60,619,777

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Net sales	$ 1,828,812	$ 1,937,800
Costs and expenses:
Cost of sales	1,011,436	1,036,957
Selling, marketing and administrative	471,734	514,010
Business realignment charges	6,133	2,667
Total costs and expenses	1,489,303	1,553,634
Operating profit	339,509	384,166
Interest expense, net	21,005	19,202
Other (income) expense, net	(21,225)	(9,840)
Income before income taxes	339,729	374,804
Provision for income taxes	109,897	130,067
Net income	$ 229,832	$ 244,737
Common stock
Net income per share—basic:
Net income per share - basic (USD per share)	$ 1.09	$ 1.14
Net income per share—diluted:
Net income per share - diluted (USD per share)	1.06	1.10
Dividends paid per share:
Dividends paid per share (USD per share)	0.583	0.535
Class B common stock
Net income per share—basic:
Net income per share - basic (USD per share)	0.99	1.04
Net income per share—diluted:
Net income per share - diluted (USD per share)	0.99	1.03
Dividends paid per share:
Dividends paid per share (USD per share)	$ 0.53	$ 0.486

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 229,832	$ 244,737
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments	12,166	(27,718)
Pension and post-retirement benefit plans	5,101	5,461
Cash flow hedges:
Losses on cash flow hedging derivatives	(22,144)	(26,092)
Reclassification adjustments	(4,912)	(399)
Total other comprehensive loss, net of tax	(9,789)	(48,748)
Total comprehensive income	220,043	195,989
Comprehensive loss attributable to noncontrolling interests	1,076	3,509
Comprehensive income attributable to The Hershey Company	$ 221,119	$ 199,498

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 03, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 285,958	$ 346,529
Accounts receivable—trade, net	544,027	599,073
Inventories	770,382	750,970
Prepaid expenses and other	172,551	152,026
Total current assets	1,772,918	1,848,598
Property, plant and equipment, net	2,230,071	2,240,460
Goodwill	690,654	684,252
Other intangibles	375,309	379,305
Other assets	185,104	155,366
Deferred income taxes	51,784	36,390
Total assets	5,305,840	5,344,371
Current liabilities:
Accounts payable	436,343	474,266
Accrued liabilities	769,793	856,967
Accrued income taxes	110,256	23,243
Short-term debt	520,564	363,513
Current portion of long-term debt	500,016	499,923
Total current liabilities	2,336,972	2,217,912
Long-term debt	1,571,388	1,557,091
Other long-term liabilities	465,523	468,718
Deferred income taxes	52,604	53,188
Total liabilities	4,426,487	4,296,909
Stockholders’ equity:
Preferred stock, shares issued: none at April 3, 2016 and December 31, 2015, respectively	0	0
Additional paid-in capital	792,620	783,877
Retained earnings	6,005,068	5,897,603
Treasury—common stock shares, at cost: 145,772,541 at April 3, 2016 and 143,124,384 at December 31, 2015, respectively	(5,946,412)	(5,672,359)
Accumulated other comprehensive loss	(379,738)	(371,025)
The Hershey Company stockholders’ equity	831,439	997,997
Noncontrolling interests in subsidiaries	47,914	49,465
Total stockholders’ equity	879,353	1,047,462
Total liabilities and stockholders’ equity	5,305,840	5,344,371
Common stock
Stockholders’ equity:
Common stock	299,281	299,281
Class B common stock
Stockholders’ equity:
Common stock	$ 60,620	$ 60,620

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Apr. 03, 2016	Dec. 31, 2015
Preferred stock, shares issued (shares)	0	0
Treasury stock, shares (shares)	145,772,541	143,124,384
Common stock
Common stock, shares issued (shares)	299,281,967	299,281,967
Class B common stock
Common stock, shares issued (shares)	60,619,777	60,619,777

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Operating Activities
Net income	$ 229,832	$ 244,737
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	59,913	58,338
Stock-based compensation expense	11,678	13,889
Excess tax benefits from stock-based compensation	(6,091)	(17,066)
Deferred income taxes	(3,409)	(11,577)
Non-cash business realignment and impairment charges	0	4,934
Contributions to pension and other benefits plans	(8,839)	(5,307)
Write-down of equity investments	5,593	0
Gain on settlement of SGM liability (see Note 2)	(26,650)	0
Changes in assets and liabilities, net of effects from business acquisitions and divestitures:
Accounts receivable—trade, net	55,046	(5,965)
Inventories	(19,412)	79,220
Accounts payable and accrued liabilities	(106,279)	(124,585)
Other assets and liabilities	65,733	22,615
Net cash provided by operating activities	257,115	259,233
Investing Activities
Capital additions	(33,607)	(57,781)
Capitalized software additions	(7,832)	(4,954)
Proceeds from sales of property, plant and equipment	1,934	214
Proceeds from sale of business	0	32,408
Equity investments in tax credit qualifying partnerships	(9,672)	0
Business acquisitions, net of cash and cash equivalents acquired	0	(218,952)
Net cash used in investing activities	(49,177)	(249,065)
Financing Activities
Net increase in short-term debt	153,863	288,946
Long-term borrowings	0	944
Repayment of long-term debt	0	(328)
Payment of SGM liability (see Note 2)	(35,762)	0
Cash dividends paid	(122,367)	(114,381)
Exercise of stock options	30,890	37,925
Excess tax benefits from stock-based compensation	6,091	17,066
Repurchase of common stock	(303,950)	(306,673)
Net cash used in financing activities	(271,235)	(76,501)
Effect of exchange rate changes on cash and cash equivalents	2,726	(2,831)
Decrease in cash and cash equivalents	(60,571)	(69,164)
Cash and cash equivalents, beginning of period	346,529	374,854
Cash and cash equivalents, end of period	285,958	305,690
Supplemental Disclosure
Interest paid	27,786	27,745
Income taxes paid	$ 29,574	$ 17,845

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - 3 months ended Apr. 03, 2016 - USD ($) $ in Thousands	Total	Common stock	Class B common stock	Preferred Stock	Common StockCommon stock	Common StockClass B common stock	Additional Paid-in Capital	Retained Earnings	Retained EarningsCommon stock	Retained EarningsClass B common stock	Treasury Common Stock	Accumulated Other Comprehensive Loss	Noncontrolling Interests in Subsidiaries
Beginning balance, stockholders' equity at Dec. 31, 2015	$ 1,047,462			$ 0	$ 299,281	$ 60,620	$ 783,877	$ 5,897,603			$ (5,672,359)	$ (371,025)	$ 49,465
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	229,832							229,832
Other comprehensive income (loss)	(9,789)											(8,713)	(1,076)
Dividends:
Common Stock		$ (90,238)	$ (32,129)						$ (90,238)	$ (32,129)
Stock-based compensation	11,693						11,693
Exercise of stock options and incentive-based transactions	26,947						(2,950)				29,897
Repurchase of common stock	(303,950)										(303,950)
Net loss attributable to noncontrolling interests	(475)												(475)
Ending balance, stockholders' equity at Apr. 03, 2016	$ 879,353			$ 0	$ 299,281	$ 60,620	$ 792,620	$ 6,005,068			$ (5,946,412)	$ (379,738)	$ 47,914

CONSOLIDATED STATEMENTS OF STO8

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Common stock
Dividends paid per share (USD per share)	$ 0.583	$ 0.535
Class B common stock
Dividends paid per share (USD per share)	$ 0.53	$ 0.486

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Apr. 03, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF 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 April 3, 2016 may not be indicative of the results that may be expected for the year ending December 31, 2016 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, 2015 (our “ 2015 Annual Report on Form 10-K”), which provides a more complete understanding of our accounting policies, financial position, operating results and other matters. Reclassifications Certain prior period amounts have been reclassified to conform to current year presentation. Specifically, this includes amounts presented in our “other (income) expense, net” caption included in our Consolidated Statements of Income and the “effect of exchange rate changes on cash and cash equivalents” included in our Consolidated Statements of Cash Flows. Recent Accounting Pronouncements In March 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting . This ASU is part of the FASB's simplification initiative. The areas for simplification in this ASU involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. ASU 2016-09 is effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods, with early adoption permitted. We are currently evaluating the impact that the adoption of ASU 2016-09 will have on our consolidated financial statements and related disclosures. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). This ASU will require lesses to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. This ASU also requires certain quantitative and qualitative disclosures. Accounting guidance for lessors is largely unchanged. The amendments should be applied on a modified retrospective basis. ASU 2016-02 is effective for us beginning January 1, 2019. We are beginning to evaluate the impact that the adoption of ASU 2016-02 will have on our consolidated financial statements and related disclosures. In May 2014, the FASB issued 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. 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 disclosures.

BUSINESS ACQUISITIONS AND DIVES

BUSINESS ACQUISITIONS AND DIVESTITURES	3 Months Ended
	Apr. 03, 2016
Business Combinations [Abstract]
Business Acquisitions and Divestitures	BUSINESS ACQUISITIONS AND DIVESTITURES Acquisitions of businesses are accounted for as purchases and, accordingly, the results of operations of the businesses acquired have been included in the consolidated financial statements since the respective dates of the acquisitions. The purchase price for each of the acquisitions is allocated to the assets acquired and liabilities assumed. 2016 Activity Ripple Brand Collective, LLC On April 26, 2016, we completed the acquisition of all of the outstanding shares of Ripple Brand Collective, LLC, a privately held company based in Congers, New York that owns the barkTHINS mass premium chocolate snacking brand. The barkTHINS brand is largely sold in the United States in take-home resealable packages and is available in the club channel, as well as select natural and conventional grocers. Shanghai Golden Monkey (“SGM”) On February 3, 2016, we completed the purchase of the remaining 20% of the outstanding shares of SGM for cash consideration totaling $35,762 , pursuant to a new agreement entered into during the fourth quarter of 2015 with the SGM selling shareholders which revised the originally-agreed purchase price for these shares. For accounting purposes, we treated the acquisition as if we had acquired 100% at the initial acquisition date in 2014 and financed the payment for the remaining 20% of the outstanding shares. Therefore, the cash settlement of the liability for the purchase of these remaining shares is reflected within the financing section of the Unaudited Consolidated Statements of Cash Flows. The final settlement also resulted in an extinguishment gain of $26,650 representing the net carrying amount of the recorded liability in excess of the cash paid to settle the obligation for the remaining 20% of the outstanding shares. This gain is recorded within non-operating other (income) expense, net within the Unaudited Consolidated Statements of Income. 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 was undertaken to 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 included cash consideration 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 was appropriately classified as a liability of $16,800 as of the acquisition date. Based on revised targets in a subsequent agreement with the Krave shareholders, the fair value was reduced over the second and third quarters of 2015 to $10,000 , with the adjustment to fair value recorded within selling, marketing and administrative expenses. The remaining $10,000 was paid in December 2015. 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. The purchase price allocation for Krave was concluded in the third quarter of 2015. 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 . 2015 Divestiture In December 2014, we entered into an agreement to sell the Mauna Loa Macadamia Nut Corporation (“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 . As a result of the expected sale, in 2014, we recorded an estimated loss on the anticipated sale of $22,256 to reflect the disposal entity at fair value, less an estimate of the selling costs. This amount included impairment charges totaling $18,531 to write down goodwill and the indefinite-lived trademark intangible asset, based on the valuation of these assets as implied by the agreed-upon sales price. 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. The loss on the sale is reflected within business realignment charges in the Consolidated Statements of Income.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	3 Months Ended
	Apr. 03, 2016
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 three months ended April 3, 2016 are as follows: North America International and Other Total Balance at December 31, 2015 $ 662,083 $ 22,169 $ 684,252 Foreign currency translation 6,471 (69 ) 6,402 Balance at April 3, 2016 $ 668,554 $ 22,100 $ 690,654 The following table provides the gross carrying amount and accumulated amortization for each major class of intangible asset: April 3, 2016 December 31, 2015 Intangible assets not subject to amortization: Trademarks 43,738 43,775 Intangible assets subject to amortization: Trademarks, customer relationships, patents and other finite-lived intangibles 393,146 390,900 Less: accumulated amortization (61,575 ) (55,370 ) Total other intangible assets $ 375,309 $ 379,305 Total amortization expense for the three months ended April 3, 2016 and April 5, 2015 was $5,180 and $5,014 , respectively.

SHORT AND LONG-TERM DEBT

SHORT AND LONG-TERM DEBT	3 Months Ended
	Apr. 03, 2016
Debt Disclosure [Abstract]
Short and Long-Term Debt	SHORT AND LONG-TERM DEBT Short-term Debt 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 currently expires in November 2020. The agreement also includes an option to increase borrowings by an additional $400,000 with the consent of the lenders. The credit agreement contains certain financial and other covenants, customary representations, warranties and events of default. As of April 3, 2016 , 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 2015 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 $219,622 and $313,520 in April 3, 2016 and December 31, 2015 , respectively. Commitment fees relating to our revolving credit facility and lines of credit are not material. At April 3, 2016 , we had outstanding commercial paper totaling $300,942 , at a weighted average interest rate of 0.39% . At December 31, 2015 , we had outstanding commercial paper totaling $49,993 , at a weighted average interest rate of 0.40% . Long-term Debt Long-term debt consisted of the following: April 3, 2016 December 31, 2015 5.45% Notes due 2016 250,000 250,000 1.50% Notes due 2016 250,000 250,000 1.60% Notes due 2018 300,000 300,000 4.125% Notes due 2020 350,000 350,000 8.8% Debentures due 2021 84,715 84,715 2.625% Notes due 2023 250,000 250,000 3.20% Notes due 2025 300,000 300,000 7.2% Debentures due 2027 193,639 193,639 Other obligations, net of debt issuance costs and unamortized debt discount 93,050 78,660 Total long-term debt 2,071,404 2,057,014 Less—current portion 500,016 499,923 Long-term portion $ 1,571,388 $ 1,557,091 Interest Expense Net interest expense consisted of the following: Three Months Ended April 3, 2016 April 5, 2015 Interest expense $ 23,525 $ 23,024 Less: Capitalized interest (2,175 ) (3,017 ) Interest expense 21,350 20,007 Interest income (345 ) (805 ) Interest expense, net $ 21,005 $ 19,202

DERIVATIVE INSTRUMENTS AND FAIR

DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS	3 Months Ended
	Apr. 03, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Fair Value Measurements	DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS 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. 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 exchanged-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. Through 2015, we designated the majority of our commodity derivative instruments as cash flow hedges under the hedge accounting requirements. 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. Cocoa commodity derivatives did not qualify for hedge accounting treatment as of the beginning of the third quarter of 2015. Therefore, changes in the fair value of these derivatives were recorded as incurred within cost of sales for the third and fourth quarters of 2015. Effective July 6, 2015 for cocoa commodity derivatives and January 1, 2016 for other commodity derivatives, we are no longer electing to designate any of our existing or new cocoa or other commodity derivatives for hedge accounting treatment. Additionally, we have revised our definition of segment income to exclude gains and losses on commodity derivatives until the related inventory is sold. This change to our definition of segment income will continue to reflect the derivative gains and losses with the underlying economic exposure being hedged and thereby eliminate the mark-to-market volatility within our reported segment income. 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, Swiss franc, Chinese renminbi, Japanese yen, and Brazilian real. We typically utilize foreign currency forward exchange contracts and options to hedge these exposures for 3 - to 24 -month periods. 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 $53,646 at April 3, 2016 and $10,752 at December 31, 2015 . 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 $2,791 at April 3, 2016 and $2,791 at December 31, 2015 . 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, we enter into interest rate swap agreements to protect against unfavorable interest rate changes relating to forecasted debt transactions. 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 $500,000 at April 3, 2016 and $500,000 at December 31, 2015 . 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 payment 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 $350,000 at April 3, 2016 . We had $350,000 derivative instruments in fair value hedge relationships at December 31, 2015 . 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 3 - to 12 -month periods. 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 the contracts outstanding at April 3, 2016 was $22,672 . Fair Value Accounting guidance on fair value measurements requires that financial assets and liabilities be classified and disclosed in one of the following categories of the fair value hierarchy: Level 1 – Based on unadjusted quoted prices for identical assets or liabilities in an active market. Level 2 – Based on observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3 – Based on unobservable inputs that reflect the entity's own assumptions about the assumptions that a market participant would use in pricing the asset or liability. We did not have any level 3 financial assets or liabilities, nor were there any transfers between levels during the periods presented. The following table presents assets and liabilities that were measured at fair value in the Consolidated Balance Sheet on a recurring basis as of April 3, 2016 and December 31, 2015 : April 3, 2016 December 31, 2015 Assets (1) Liabilities (1) Assets (1) Liabilities (1) Derivatives designated as cash flow hedging instruments: Commodities futures and options (2) $ — $ — $ — $ 479 Foreign exchange contracts (3) 345 4,132 367 475 Interest rate swap agreements (4) — 70,092 — 40,299 345 74,224 367 41,253 Derivatives designated as fair value hedging instruments: Interest rate swap agreements (4) 16,236 — 4,313 — Derivatives not designated as hedging instruments: Commodities futures and options (2) — 13,678 — 1,574 Deferred compensation derivatives (5) 403 — 1,198 — Foreign exchange contracts (3) — 172 69 — 403 13,850 1,267 1,574 Total $ 16,984 $ 88,074 $ 5,947 $ 42,827 (1) Derivatives assets are classified on our balance sheet within prepaid expenses and other as well as other assets. Derivative liabilities are classified on our balance sheet within accrued liabilities and other long-term liabilities. (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 April 3, 2016 , liabilities include the net of assets of $56,866 and liabilities of $68,030 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 liabilities at December 31, 2015 were assets of $54,090 and liabilities of $54,860 . (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 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. 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 April 3, 2016 and December 31, 2015 because of the relatively short maturity of these instruments. The estimated fair value of our long-term debt is based on quoted market prices for similar debt issues and is, therefore, classified as Level 2 within the valuation hierarchy. The fair values and carrying values of long-term debt, including the current portion, was as follows: Fair Value Carrying Value April 3, 2016 December 31, 2015 April 3, 2016 December 31, 2015 Current portion of long-term debt $ 504,835 $ 509,580 $ 500,016 $ 499,923 Long-term debt 1,733,643 1,668,379 1,571,388 1,557,091 Total $ 2,238,478 $ 2,177,959 $ 2,071,404 $ 2,057,014 Income Statement Impact of Derivative Instruments The effect of derivative instruments on the Consolidated Statements of Income for the three months ended April 3, 2016 and April 5, 2015 was as follows: Non-designated Hedges Cash Flow Hedges Gains (losses) recognized in income (a) Gains (losses) recognized in other comprehensive income (“OCI”) (effective portion) Gains (losses) reclassified from accumulated OCI into income (effective portion) (b) Losses recognized in income (ineffective portion) (c) 2016 2015 2016 2015 2016 2015 2016 2015 Commodities futures and options $ (38,941 ) $ (2,777 ) $ — $ (15,098 ) $ 9,730 $ 1,200 $ — $ (287 ) Foreign exchange contracts (204 ) (67 ) (4,116 ) 1,240 (261 ) 341 — — Interest rate swap agreements — — (29,793 ) (28,354 ) (1,560 ) (1,189 ) — — Deferred compensation derivatives 403 172 — — — — — — Total $ (38,742 ) $ (2,672 ) $ (33,909 ) $ (42,212 ) $ 7,909 $ 352 $ — $ (287 ) (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 (losses) reclassified from AOCI 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 AOCI 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 amount of net gains on derivative instruments, including interest rate swap agreements, foreign currency forward exchange contracts and options, commodities futures and options contracts, and other commodity derivative instruments expected to be reclassified into earnings in the next 12 months was approximately $6,112 after tax as of April 3, 2016 . This amount was primarily associated with commodities futures contracts. Fair Value Hedges For the three months ended April 3, 2016 and April 5, 2015 , we recognized a net pretax benefit to interest expense of $1,317 and $2,095 relating to our fixed-to-floating interest swap arrangements.

NONCONTROLLING INTERESTS IN SUB

NONCONTROLLING INTERESTS IN SUBSIDIARIES	3 Months Ended
	Apr. 03, 2016
Noncontrolling Interest [Abstract]
Noncontrolling Interest 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. A roll-forward showing the 2016 activity relating to the noncontrolling interest follows: Noncontrolling Interests Balance, December 31, 2015 $ 49,465 Net loss attributable to noncontrolling interests (1) (475 ) Other comprehensive loss - foreign currency translation adjustments (1,076 ) Balance, April 3, 2016 $ 47,914 (1) Amounts are not considered significant and are presented within selling, marketing and administrative expenses.

COMPREHENSIVE INCOME

COMPREHENSIVE INCOME	3 Months Ended
	Apr. 03, 2016
Equity [Abstract]
Comprehensive Income	COMPREHENSIVE INCOME A summary of the components of comprehensive income is as follows: Three Months Ended April 3, 2016 Pre-Tax Tax After-Tax Net income $ 229,832 Other comprehensive income (loss): Foreign currency translation adjustments $ 12,166 $ — 12,166 Pension and post-retirement benefit plans (a) 8,680 (3,579 ) 5,101 Cash flow hedges: Losses on cash flow hedging derivatives (33,909 ) 11,765 (22,144 ) Reclassification adjustments (b) (7,909 ) 2,997 (4,912 ) Total other comprehensive loss $ (20,972 ) $ 11,183 (9,789 ) Total comprehensive income $ 220,043 Comprehensive loss attributable to noncontrolling interests 1,076 Comprehensive income attributable to The Hershey Company $ 221,119 Three Months Ended April 5, 2015 Pre-Tax Tax After-Tax Net income $ 244,737 Other comprehensive loss: Foreign currency translation adjustments $ (27,718 ) $ — (27,718 ) Pension and post-retirement benefit plans (a) 8,662 (3,201 ) 5,461 Cash flow hedges: Losses on cash flow hedging derivatives (42,212 ) 16,120 (26,092 ) Reclassification adjustments (b) (352 ) (47 ) (399 ) Total other comprehensive loss $ (61,620 ) $ 12,872 (48,748 ) Total comprehensive income $ 195,989 Comprehensive loss attributable to noncontrolling interests 3,509 Comprehensive income attributable to The Hershey Company $ 199,498 (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: April 3, 2016 December 31, 2015 Foreign currency translation adjustments $ (87,994 ) $ (101,236 ) Pension and post-retirement benefit plans, net of tax (249,547 ) (254,648 ) Cash flow hedges, net of tax (42,197 ) (15,141 ) Total accumulated other comprehensive loss $ (379,738 ) $ (371,025 )

OTHER (INCOME) EXPENSE, NET

OTHER (INCOME) EXPENSE, NET	3 Months Ended
	Apr. 03, 2016
Other Income and Expenses [Abstract]
Other (Income) Expense, Net	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 months ended April 5, 2015 , we reclassified from selling, marketing and administrative expenses to other (income) expense, net total net gains of $9,840 to conform to the current year presentation. After considering these reclassifications, amounts reflected in other (income) expense, net include the following: Three Months Ended April 3, April 5, Write-down of equity investments in partnerships qualifying for tax credits (see Note 9) $ 5,593 $ — Settlement of Shanghai Golden Monkey liability (see Note 2) (26,650 ) — Gain on sale of non-core trademark — (9,950 ) Other (income) expense, net (168 ) 110 Total $ (21,225 ) $ (9,840 )

INCOME TAXES

INCOME TAXES	3 Months Ended
	Apr. 03, 2016
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 three months ended April 3, 2016 and April 5, 2015 were 32.3% and 34.7% , respectively. The 2016 effective tax rate benefited from the impacts of non-taxable income related to the settlement of the SGM liability and income tax benefits from historic and energy tax credits, which were partially offset by the valuation allowance recorded against current year SGM operating losses. Hershey and its subsidiaries file tax returns in the U.S., including various state and local returns, and in 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 $6,433 within the next 12 months because of the expiration of statutes of limitations and settlement of tax audits. Investments in Partnerships Qualifying for Tax Credits The Company continued to invest in partnerships which make equity investments in projects eligible to receive federal historic and energy tax credits. The 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 April 3, 2016 , we recognized investment tax credits and related outside basis difference benefit totaling $6,618 and wrote-down the equity investment by $5,593 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.

BUSINESS REALIGNMENT AND IMPAIR

BUSINESS REALIGNMENT AND IMPAIRMENT CHARGES	3 Months Ended
	Apr. 03, 2016
Restructuring and Related Activities [Abstract]
Business Realignment Activities	BUSINESS REALIGNMENT ACTIVITIES 2015 Productivity Initiative In mid-2015, we announced a new productivity initiative (the “2015 Productivity 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 Productivity 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 Productivity Initiative was executed throughout the third and fourth quarters of 2015, resulting in a net reduction of approximately 300 positions, with the majority of the departures taking place by the end of 2015. For the three months ended April 3, 2016 , we incurred charges totaling $1,458 , representing adjustments to estimated severance benefits as well as incremental third-party costs related to the design and implementation of the new organizational structure. Since the program's inception, we have incurred total costs of $107,211 , including a pension settlement charge of $10,178 recorded in the fourth quarter of 2015, relating to lump sum withdrawals by employees retiring or leaving the Company as a result of this program. Total pre-tax charges and costs for this program are currently expected to be approximately $110 million , the majority of which are cash. This excludes the pension settlement cost recorded in 2015 and any additional pension settlement costs that could be triggered by additional lump sum withdrawals in 2016. The remaining costs for the 2015 Productivity Initiative are expected to be incurred over the next two quarters. China structure optimization During the first quarter of 2016, we initiated the process of optimizing the China business and workforce structure and incurred initial costs totaling $12,972 , relating primarily to severance and other third party charges. In addition, given the challenges impacting the retail landscape in China, we continue to assess the impact of potential excess capacity on operational efficiencies as well as the carrying value of our long-lived assets in the region. Other international programs Costs incurred for the three months ended April 5, 2015 relate principally to accelerated depreciation and amortization and employee severance costs for a couple of programs commenced in 2014 to rationalize certain non-U.S. manufacturing and distribution activities and to establish our own sales and distribution teams in Brazil in connection with our exit from the Bauducco joint venture. Expenses recorded for business realignment activities during the three months ended April 3, 2016 and April 5, 2015 were classified as follows: Three Months Ended April 3, 2016 April 5, 2015 Cost of sales: China structure optimization $ (487 ) $ — Other international restructuring programs — 1,348 Total cost of sales (487 ) 1,348 Selling, marketing and administrative: 2015 productivity initiative 2,752 — China structure optimization 6,032 Other international restructuring programs — 1,125 Total selling, marketing and administrative 8,784 1,125 Business realignment charges: 2015 productivity initiative (1,294 ) — China integration initiative 7,427 — Divestiture of Mauna Loa (see Note 2) — 2,667 Total business realignment charges 6,133 2,667 Total charges associated with business realignment activities $ 14,430 $ 5,140 The costs and related benefits to be derived from the 2015 Productivity Initiative relate primarily to the North American segment, while the costs and related benefits of the China integration initiative and other international programs relate primary to the International and Other segment. However, segment operating results do not include business realignment and related charges because we evaluate segment performance excluding such charges. The following table presents the liability activity for employee related costs qualifying as exit and disposal costs: Total Liability balance at December 31, 2015 $ 16,310 2016 business realignment charges 6,133 Cash payments (6,918 ) Other, net (161 ) Liability balance at April 3, 2016 $ 15,364 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 and certain of the third-party charges associated with various programs, as those items are not reflected in the business realignment liability in our Consolidated Balance Sheets.

PENSION AND OTHER POST-RETIREME

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS	3 Months Ended
	Apr. 03, 2016
Compensation and Retirement Disclosure [Abstract]
Pension and Other Post-Retirement Benefit Plans	PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS The components of net periodic benefit cost for the first quarter were as follows: Pension Benefits Other Benefits Three Months Ended Three Months Ended April 3, 2016 April 5, 2015 April 3, 2016 April 5, 2015 Service cost $ 5,884 $ 7,423 $ 74 $ 172 Interest cost 10,835 11,305 2,436 2,588 Expected return on plan assets (14,541 ) (17,381 ) — — Amortization of prior service (credit) cost (262 ) (291 ) 144 153 Amortization of net loss 8,807 8,072 (12 ) — Total net periodic benefit cost $ 10,723 $ 9,128 $ 2,642 $ 2,913 We made contributions of $1,175 and $7,664 to the pension plans and other benefits plans, respectively, during the first quarter of 2016. In the first quarter of 2015, we made contributions of $851 and $4,456 to our pension plans and other benefits plans, respectively. The contributions in 2016 and 2015 also included benefit payments from our non-qualified pension plans and post-retirement benefit plans. For 2016, there are no significant minimum funding requirements for our domestic pension plans; however, we expect to make additional contributions of approximately $18,500 to maintain the funded status. Planned voluntary funding of our non-domestic pension plans in 2016 is not material.

STOCK COMPENSATION PLANS

STOCK COMPENSATION PLANS	3 Months Ended
	Apr. 03, 2016
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 2015 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 April 3, 2016 April 5, 2015 Pre-tax compensation expense $ 11,678 $ 13,889 Related income tax benefit 4,087 4,861 Compensation costs for stock compensation plans are primarily included in selling, marketing and administrative expense. As of April 3, 2016 , total stock-based compensation cost related to non-vested awards not yet recognized was $99,775 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 April 3, 2016 is as follows: Stock Options Shares Weighted-Average Weighted-Average Remaining Aggregate Intrinsic Value Outstanding at beginning of the period 6,842,563 $75.48 5.8 years Granted 1,326,045 $90.38 Exercised (583,269 ) $54.65 Forfeited (96,163 ) $104.33 Outstanding as of April 3, 2016 7,489,176 $79.34 6.6 years $ 114,827 Options exercisable as of April 3, 2016 4,596,241 $68.79 5.1 years $ 112,614 The weighted-average fair value of options granted was $11.42 and $19.31 per share for the periods ended April 3, 2016 and April 5, 2015 , respectively. The fair value was estimated on the date of grant using a Black-Scholes option-pricing model and the following weighted-average assumptions: Three Months Ended April 3, 2016 April 5, 2015 Dividend yields 2.4 % 2.0 % Expected volatility 16.8 % 20.8 % Risk-free interest rates 1.5 % 1.9 % Expected lives in years 6.8 6.7 The total intrinsic value of options exercised was $20,348 and $39,606 for the periods ended April 3, 2016 and April 5, 2015 , respectively. Performance Stock Units and Restricted Stock Units A summary of activity relating to grants of PSUs and RSUs for the period ended April 3, 2016 is as follows: Performance Stock Units and Restricted Stock Units Number of units Weighted-average grant date fair value for equity awards (per unit) Outstanding at beginning of year 495,207 $106.40 Granted 483,678 $92.88 Performance assumption change (16,056 ) $97.33 Vested (179,866 ) $95.78 Forfeited (10,056 ) $95.07 Outstanding as of April 3, 2016 772,907 $102.24 The table above excludes PSU awards for 6,893 units as of April 3, 2016 and 20,586 units as of December 31, 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 for potential future distribution to employees and non-employee directors. In addition, the table provides assumptions used to determine the fair value of the market-based total shareholder return component using the Monte Carlo simulation model on the date of grant. Three Months Ended April 3, 2016 April 5, 2015 Units granted 483,678 266,099 Weighted-average fair value at date of grant $ 92.88 $ 109.35 Monte Carlo simulation assumptions: Estimated values $ 38.02 $ 61.22 Dividend yields 2.5 % 2.0 % Expected volatility 17.0 % 14.9 % The intrinsic value of share-based liabilities paid, combined with the fair value of shares vested, totaled $16,181 and $37,464 for the periods ended April 3, 2016 and April 5, 2015 , respectively. Deferred PSUs, deferred RSUs and deferred stock units representing directors’ fees totaled 474,483 units as of April 3, 2016 . Each unit is equivalent to one share of the Company’s Common Stock.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Apr. 03, 2016
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION Our organizational structure is designed to ensure continued focus on North America, coupled with an emphasis on accelerating growth in our focus international markets, as we transform into a more global company. Our business is organized around geographic regions, which enables 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 CEO, 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 89% of our consolidated revenue and none of our other geographic regions are individually significant. Therefore, we currently define our reportable segments as follows: • North America - This segment is responsible for our traditional chocolate and non-chocolate confectionery market position, as well as our grocery and growing snacks market positions, in the United States and Canada. This includes developing and growing our business in chocolate and non-chocolate confectionery, 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 and non-chocolate confectionery and other products. We currently have operations and manufacture product in China, Mexico, Brazil and India, primarily for consumers in these markets, and also distribute and sell confectionery products in export markets of Asia, Latin America, Middle East, Europe, Africa and other regions. 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, unallocated mark-to-market gains and losses on commodity derivatives, business realignment and impairment charges, acquisition integration 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 as well the measure of segment performance used for incentive compensation purposes. 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 2015 Annual Report on Form 10-K, with the exception of our accounting methodology for commodities derivatives. As discussed in Note 5, derivatives used to manage commodity price risk are not designated for hedge accounting treatment. These derivatives are recognized at fair market value with the resulting realized and unrealized losses recognized in unallocated derivative gains (losses) outside of the reporting segment results. The gains and losses are subsequently recognized in the operating results of the segments in the period in which the underlying transaction being economically hedged is included in earnings. 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 April 3, 2016 April 5, 2015 Net sales: North America $ 1,633,471 $ 1,706,995 International and Other 195,341 230,805 Total $ 1,828,812 $ 1,937,800 Segment income: North America $ 529,390 $ 554,306 International and Other (13,233 ) (21,759 ) Total segment income 516,157 532,547 Unallocated corporate expense (1) 122,171 138,672 Unallocated mark-to-market losses on commodity derivatives (2) 34,946 — Charges associated with business realignment activities 14,430 5,140 Non-service related pension expense 5,101 1,996 Acquisition integration costs — 2,573 Operating profit 339,509 384,166 Interest expense, net 21,005 19,202 Other (income) expense, net (21,225 ) (9,840 ) Income before income taxes $ 339,729 $ 374,804 (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. (2) Reflects gains and losses on commodity derivative instruments that are excluded from segment income until the related inventory is sold. The activity within the unallocated mark-to-market gains (losses) on commodity derivatives for the quarter ended April 3, 2016 included: Three Months Ended April 3, 2016 Net losses on mark-to-market valuation of unallocated commodity derivative positions $ (38,941 ) Net losses on commodity derivative positions allocated to segment income (3,995 ) Net losses on mark-to-market valuation of commodity derivative positions remaining in unallocated derivative gains (losses) $ (34,946 ) Based on our forecasts of the timing of the recognition of the underlying hedged items, we expect to reclassify losses on commodity derivatives of $13.6 million after tax to segment operating results in the next twelve months. Depreciation and amortization expense included within segment income presented above is as follows: Three Months Ended April 3, 2016 April 5, 2015 North America $ 38,942 $ 35,440 International and Other 10,923 11,124 Corporate 10,048 11,774 Total $ 59,913 $ 58,338

TREASURY STOCK ACTIVITY

TREASURY STOCK ACTIVITY	3 Months Ended
	Apr. 03, 2016
Equity [Abstract]
Treasury Stock Activity	TREASURY STOCK ACTIVITY A summary of our treasury stock activity is as follows: Three Months Ended April 3, 2016 Shares Dollars In thousands Shares repurchased in the open market under pre-approved share repurchase programs 3,366,761 $ 303,950 Shares issued for stock options and incentive compensation (718,604 ) (29,897 ) Net change 2,648,157 $ 274,053 The $250 million share repurchase program approved by our Board of Directors in February 2015 was completed in the first quarter of 2016. In February 2016, our Board of Directors approved an additional $500 million authorization to repurchase shares of our Common Stock. As of April 3, 2016 , $216 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	3 Months Ended
	Apr. 03, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	CONTINGENCIES We are subject to various pending or threatened legal proceedings and claims that arise in the ordinary course of our business. While it is not feasible to predict or determine the outcome of such proceedings and claims with certainty, in our opinion these matters, both individually and in the aggregate, are not expected to have a material effect on our financial condition, results of operations or cash flows.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Apr. 03, 2016
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE We compute basic earnings per share for Common Stock and Class B common stock using the two-class method. The Class B common stock is convertible into Common Stock on a share-for-share basis at any time. With respect to dividend rights, the Common Stock holders are entitled to cash dividends 10% higher than those declared and paid on the Class B common stock. The computation of diluted earnings per share for Common Stock assumes the conversion of Class B common stock using the if-converted method, while the diluted earnings per share of Class B common stock does not assume the conversion of those shares. 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 April 3, 2016 April 5, 2015 Common Stock Class B Common Stock Common Stock Class B Common Stock Basic earnings per share: Numerator: Allocation of distributed earnings (cash dividends paid) $ 90,238 $ 32,129 $ 84,920 $ 29,461 Allocation of undistributed earnings 79,376 28,089 97,066 33,290 Total earnings—basic $ 169,614 $ 60,218 $ 181,986 $ 62,751 Denominator (shares in thousands): Total weighted-average shares—basic 155,675 60,620 160,024 60,620 Earnings Per Share—basic $ 1.09 $ 0.99 $ 1.14 $ 1.04 Diluted earnings per share: Numerator: Allocation of total earnings used in basic computation $ 169,614 $ 60,218 $ 181,986 $ 62,751 Reallocation of total earnings as a result of conversion of Class B common stock to Common stock 60,218 — 62,751 — Reallocation of undistributed earnings — (158 ) — (318 ) Total earnings—diluted $ 229,832 $ 60,060 $ 244,737 $ 62,433 Denominator (shares in thousands): Number of shares used in basic computation 155,675 60,620 160,024 60,620 Weighted-average effect of dilutive securities: Conversion of Class B common stock to Common shares outstanding 60,620 — 60,620 — Employee stock options 1,005 — 1,687 — Performance and restricted stock options 187 — 388 — Total weighted-average shares—diluted 217,487 60,620 222,719 60,620 Earnings Per Share—diluted $ 1.06 $ 0.99 $ 1.10 $ 1.03 The earnings per share calculations for the three months ended April 3, 2016 and April 5, 2015 excluded 3,680 and 2,545 , respectively, of stock options that would have been antidilutive.

SUPPLEMENTAL BALANCE SHEET INFO

SUPPLEMENTAL BALANCE SHEET INFORMATION	3 Months Ended
	Apr. 03, 2016
SUPPLEMENTAL BALANCE SHEET INFORMATION [Abstract]
Supplemental Balance Sheet Disclosures [Text Block]	SUPPLEMENTAL BALANCE SHEET INFORMATION The components of certain Consolidated Balance Sheet accounts are as follows: Inventories: April 3, 2016 December 31, 2015 Raw materials $ 335,838 $ 353,451 Goods in process 107,055 67,745 Finished goods 516,365 534,983 Inventories at FIFO 959,258 956,179 Adjustment to LIFO (188,876 ) (205,209 ) Total inventories $ 770,382 $ 750,970 Property, plant and equipment: April 3, 2016 December 31, 2015 Land $ 96,893 $ 96,666 Buildings 1,217,106 1,084,958 Machinery and equipment 2,945,966 2,886,723 Construction in progress 285,761 448,956 Property, plant and equipment, gross 4,545,726 4,517,303 Accumulated depreciation (2,315,655 ) (2,276,843 ) Property, plant and equipment, net $ 2,230,071 $ 2,240,460 Other assets: April 3, 2016 December 31, 2015 Capitalized software, net $ 69,726 $ 68,004 Income tax receivable 1,474 1,428 Other non-current assets 113,904 85,934 Total other assets $ 185,104 $ 155,366 Accrued liabilities: April 3, 2016 December 31, 2015 Payroll, compensations and benefits $ 162,465 $ 215,638 Advertising and promotion 351,561 337,945 Due to SGM shareholders — 72,025 Other 255,767 231,359 Total accrued liabilities $ 769,793 $ 856,967 Other long-term liabilities: April 3, 2016 December 31, 2015 Post-retirement benefits liabilities $ 229,832 $ 231,412 Pension benefits liabilities 124,740 122,681 Other 110,951 114,625 Total other long-term liabilities $ 465,523 $ 468,718

SIGNIFICANT ACCOUNTING POLICI26

SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Apr. 03, 2016
Accounting Policies [Abstract]
Basis of Presentation	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 April 3, 2016 may not be indicative of the results that may be expected for the year ending December 31, 2016 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, 2015 (our “ 2015 Annual Report on Form 10-K”), which provides a more complete understanding of our accounting policies, financial position, operating results and other matters
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform to current year presentation. Specifically, this includes amounts presented in our “other (income) expense, net” caption included in our Consolidated Statements of Income and the “effect of exchange rate changes on cash and cash equivalents” included in our Consolidated Statements of Cash Flows.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting . This ASU is part of the FASB's simplification initiative. The areas for simplification in this ASU involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. ASU 2016-09 is effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods, with early adoption permitted. We are currently evaluating the impact that the adoption of ASU 2016-09 will have on our consolidated financial statements and related disclosures. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). This ASU will require lesses to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. This ASU also requires certain quantitative and qualitative disclosures. Accounting guidance for lessors is largely unchanged. The amendments should be applied on a modified retrospective basis. ASU 2016-02 is effective for us beginning January 1, 2019. We are beginning to evaluate the impact that the adoption of ASU 2016-02 will have on our consolidated financial statements and related disclosures. In May 2014, the FASB issued 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. 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 disclosures.

BUSINESS ACQUISITIONS AND DIV27

BUSINESS ACQUISITIONS AND DIVESTITURES (Tables)	3 Months Ended
	Apr. 03, 2016
KRAVE Pure Foods, Inc.
Business Acquisition and Divestitures [Line Items]
Summary of Purchase Consideration Allocation to Assets Acquired and Liabilities Assumed	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)	3 Months Ended
	Apr. 03, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of the Changes in the Carrying Value of Goodwill by Reportable Segment	The changes in the carrying value of goodwill by reportable segment for the three months ended April 3, 2016 are as follows: North America International and Other Total Balance at December 31, 2015 $ 662,083 $ 22,169 $ 684,252 Foreign currency translation 6,471 (69 ) 6,402 Balance at April 3, 2016 $ 668,554 $ 22,100 $ 690,654
Schedule of Gross Carrying Amount and Accumulated Amortization for Each Major Class of Intangible Asset	The following table provides the gross carrying amount and accumulated amortization for each major class of intangible asset: April 3, 2016 December 31, 2015 Intangible assets not subject to amortization: Trademarks 43,738 43,775 Intangible assets subject to amortization: Trademarks, customer relationships, patents and other finite-lived intangibles 393,146 390,900 Less: accumulated amortization (61,575 ) (55,370 ) Total other intangible assets $ 375,309 $ 379,305

SHORT AND LONG-TERM DEBT (Table

SHORT AND LONG-TERM DEBT (Tables)	3 Months Ended
	Apr. 03, 2016
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt consisted of the following: April 3, 2016 December 31, 2015 5.45% Notes due 2016 250,000 250,000 1.50% Notes due 2016 250,000 250,000 1.60% Notes due 2018 300,000 300,000 4.125% Notes due 2020 350,000 350,000 8.8% Debentures due 2021 84,715 84,715 2.625% Notes due 2023 250,000 250,000 3.20% Notes due 2025 300,000 300,000 7.2% Debentures due 2027 193,639 193,639 Other obligations, net of debt issuance costs and unamortized debt discount 93,050 78,660 Total long-term debt 2,071,404 2,057,014 Less—current portion 500,016 499,923 Long-term portion $ 1,571,388 $ 1,557,091
Schedule Of Net Interest Expense	Net interest expense consisted of the following: Three Months Ended April 3, 2016 April 5, 2015 Interest expense $ 23,525 $ 23,024 Less: Capitalized interest (2,175 ) (3,017 ) Interest expense 21,350 20,007 Interest income (345 ) (805 ) Interest expense, net $ 21,005 $ 19,202

DERIVATIVE INSTRUMENTS AND FA30

DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Apr. 03, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table presents assets and liabilities that were measured at fair value in the Consolidated Balance Sheet on a recurring basis as of April 3, 2016 and December 31, 2015 : April 3, 2016 December 31, 2015 Assets (1) Liabilities (1) Assets (1) Liabilities (1) Derivatives designated as cash flow hedging instruments: Commodities futures and options (2) $ — $ — $ — $ 479 Foreign exchange contracts (3) 345 4,132 367 475 Interest rate swap agreements (4) — 70,092 — 40,299 345 74,224 367 41,253 Derivatives designated as fair value hedging instruments: Interest rate swap agreements (4) 16,236 — 4,313 — Derivatives not designated as hedging instruments: Commodities futures and options (2) — 13,678 — 1,574 Deferred compensation derivatives (5) 403 — 1,198 — Foreign exchange contracts (3) — 172 69 — 403 13,850 1,267 1,574 Total $ 16,984 $ 88,074 $ 5,947 $ 42,827 (1) Derivatives assets are classified on our balance sheet within prepaid expenses and other as well as other assets. Derivative liabilities are classified on our balance sheet within accrued liabilities and other long-term liabilities. (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 April 3, 2016 , liabilities include the net of assets of $56,866 and liabilities of $68,030 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 liabilities at December 31, 2015 were assets of $54,090 and liabilities of $54,860 . (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 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.
Schedule of Carrying Values and Estimated Fair Values of Long-term Debt, Including Current Portion	The fair values and carrying values of long-term debt, including the current portion, was as follows: Fair Value Carrying Value April 3, 2016 December 31, 2015 April 3, 2016 December 31, 2015 Current portion of long-term debt $ 504,835 $ 509,580 $ 500,016 $ 499,923 Long-term debt 1,733,643 1,668,379 1,571,388 1,557,091 Total $ 2,238,478 $ 2,177,959 $ 2,071,404 $ 2,057,014
Summary of the Effect of Derivative Instruments on the Consolidated Statements of Income	The effect of derivative instruments on the Consolidated Statements of Income for the three months ended April 3, 2016 and April 5, 2015 was as follows: Non-designated Hedges Cash Flow Hedges Gains (losses) recognized in income (a) Gains (losses) recognized in other comprehensive income (“OCI”) (effective portion) Gains (losses) reclassified from accumulated OCI into income (effective portion) (b) Losses recognized in income (ineffective portion) (c) 2016 2015 2016 2015 2016 2015 2016 2015 Commodities futures and options $ (38,941 ) $ (2,777 ) $ — $ (15,098 ) $ 9,730 $ 1,200 $ — $ (287 ) Foreign exchange contracts (204 ) (67 ) (4,116 ) 1,240 (261 ) 341 — — Interest rate swap agreements — — (29,793 ) (28,354 ) (1,560 ) (1,189 ) — — Deferred compensation derivatives 403 172 — — — — — — Total $ (38,742 ) $ (2,672 ) $ (33,909 ) $ (42,212 ) $ 7,909 $ 352 $ — $ (287 ) (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 (losses) reclassified from AOCI 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 AOCI 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.

NONCONTROLLING INTERESTS IN S31

NONCONTROLLING INTERESTS IN SUBSIDIARIES (Tables)	3 Months Ended
	Apr. 03, 2016
Noncontrolling Interest [Abstract]
Rollforward of Activity Relating to Noncontrolling Interest	A roll-forward showing the 2016 activity relating to the noncontrolling interest follows: Noncontrolling Interests Balance, December 31, 2015 $ 49,465 Net loss attributable to noncontrolling interests (1) (475 ) Other comprehensive loss - foreign currency translation adjustments (1,076 ) Balance, April 3, 2016 $ 47,914 (1) Amounts are not considered significant and are presented within selling, marketing and administrative expenses.

COMPREHENSIVE INCOME (Tables)

COMPREHENSIVE INCOME (Tables)	3 Months Ended
	Apr. 03, 2016
Equity [Abstract]
Summary of the Components of Comprehensive Income	A summary of the components of comprehensive income is as follows: Three Months Ended April 3, 2016 Pre-Tax Tax After-Tax Net income $ 229,832 Other comprehensive income (loss): Foreign currency translation adjustments $ 12,166 $ — 12,166 Pension and post-retirement benefit plans (a) 8,680 (3,579 ) 5,101 Cash flow hedges: Losses on cash flow hedging derivatives (33,909 ) 11,765 (22,144 ) Reclassification adjustments (b) (7,909 ) 2,997 (4,912 ) Total other comprehensive loss $ (20,972 ) $ 11,183 (9,789 ) Total comprehensive income $ 220,043 Comprehensive loss attributable to noncontrolling interests 1,076 Comprehensive income attributable to The Hershey Company $ 221,119 Three Months Ended April 5, 2015 Pre-Tax Tax After-Tax Net income $ 244,737 Other comprehensive loss: Foreign currency translation adjustments $ (27,718 ) $ — (27,718 ) Pension and post-retirement benefit plans (a) 8,662 (3,201 ) 5,461 Cash flow hedges: Losses on cash flow hedging derivatives (42,212 ) 16,120 (26,092 ) Reclassification adjustments (b) (352 ) (47 ) (399 ) Total other comprehensive loss $ (61,620 ) $ 12,872 (48,748 ) Total comprehensive income $ 195,989 Comprehensive loss attributable to noncontrolling interests 3,509 Comprehensive income attributable to The Hershey Company $ 199,498 (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.
Summary of the Components of Accumulated Other Comprehensive Loss	The components of accumulated other comprehensive loss, as shown on the Consolidated Balance Sheets, are as follows: April 3, 2016 December 31, 2015 Foreign currency translation adjustments $ (87,994 ) $ (101,236 ) Pension and post-retirement benefit plans, net of tax (249,547 ) (254,648 ) Cash flow hedges, net of tax (42,197 ) (15,141 ) Total accumulated other comprehensive loss $ (379,738 ) $ (371,025 )

OTHER (INCOME) EXPENSE, NET (Ta

OTHER (INCOME) EXPENSE, NET (Tables)	3 Months Ended
	Apr. 03, 2016
Other Income and Expenses [Abstract]
Summary Other Nonoperating (Income) Expense	After considering these reclassifications, amounts reflected in other (income) expense, net include the following: Three Months Ended April 3, April 5, Write-down of equity investments in partnerships qualifying for tax credits (see Note 9) $ 5,593 $ — Settlement of Shanghai Golden Monkey liability (see Note 2) (26,650 ) — Gain on sale of non-core trademark — (9,950 ) Other (income) expense, net (168 ) 110 Total $ (21,225 ) $ (9,840 )

BUSINESS REALIGNMENT AND IMPA34

BUSINESS REALIGNMENT AND IMPAIRMENT CHARGES (Tables)	3 Months Ended
	Apr. 03, 2016
Restructuring and Related Activities [Abstract]
Summary of Business Realignment And Impairment Charges	Expenses recorded for business realignment activities during the three months ended April 3, 2016 and April 5, 2015 were classified as follows: Three Months Ended April 3, 2016 April 5, 2015 Cost of sales: China structure optimization $ (487 ) $ — Other international restructuring programs — 1,348 Total cost of sales (487 ) 1,348 Selling, marketing and administrative: 2015 productivity initiative 2,752 — China structure optimization 6,032 Other international restructuring programs — 1,125 Total selling, marketing and administrative 8,784 1,125 Business realignment charges: 2015 productivity initiative (1,294 ) — China integration initiative 7,427 — Divestiture of Mauna Loa (see Note 2) — 2,667 Total business realignment charges 6,133 2,667 Total charges associated with business realignment activities $ 14,430 $ 5,140
Summary of Business Realignment Activity	The following table presents the liability activity for employee related costs qualifying as exit and disposal costs: Total Liability balance at December 31, 2015 $ 16,310 2016 business realignment charges 6,133 Cash payments (6,918 ) Other, net (161 ) Liability balance at April 3, 2016 $ 15,364

PENSION AND OTHER POST-RETIRE35

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS (Tables)	3 Months Ended
	Apr. 03, 2016
Compensation and Retirement Disclosure [Abstract]
Summary of Components of Net Periodic Benefit Cost	The components of net periodic benefit cost for the first quarter were as follows: Pension Benefits Other Benefits Three Months Ended Three Months Ended April 3, 2016 April 5, 2015 April 3, 2016 April 5, 2015 Service cost $ 5,884 $ 7,423 $ 74 $ 172 Interest cost 10,835 11,305 2,436 2,588 Expected return on plan assets (14,541 ) (17,381 ) — — Amortization of prior service (credit) cost (262 ) (291 ) 144 153 Amortization of net loss 8,807 8,072 (12 ) — Total net periodic benefit cost $ 10,723 $ 9,128 $ 2,642 $ 2,913

STOCK COMPENSATION PLANS (Table

STOCK COMPENSATION PLANS (Tables)	3 Months Ended
	Apr. 03, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of 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 April 3, 2016 April 5, 2015 Pre-tax compensation expense $ 11,678 $ 13,889 Related income tax benefit 4,087 4,861
Summary of Activity Relating to the Grants of Stock Options	A summary of activity relating to grants of stock options for the period ended April 3, 2016 is as follows: Stock Options Shares Weighted-Average Weighted-Average Remaining Aggregate Intrinsic Value Outstanding at beginning of the period 6,842,563 $75.48 5.8 years Granted 1,326,045 $90.38 Exercised (583,269 ) $54.65 Forfeited (96,163 ) $104.33 Outstanding as of April 3, 2016 7,489,176 $79.34 6.6 years $ 114,827 Options exercisable as of April 3, 2016 4,596,241 $68.79 5.1 years $ 112,614
Summary of Fair Value Estimated on the Grant Date and the Weighted Average Assumptions	The fair value was estimated on the date of grant using a Black-Scholes option-pricing model and the following weighted-average assumptions: Three Months Ended April 3, 2016 April 5, 2015 Dividend yields 2.4 % 2.0 % Expected volatility 16.8 % 20.8 % Risk-free interest rates 1.5 % 1.9 % Expected lives in years 6.8 6.7
Summary of Activity Relating to Grants of PSUs and RSUs	A summary of activity relating to grants of PSUs and RSUs for the period ended April 3, 2016 is as follows: Performance Stock Units and Restricted Stock Units Number of units Weighted-average grant date fair value for equity awards (per unit) Outstanding at beginning of year 495,207 $106.40 Granted 483,678 $92.88 Performance assumption change (16,056 ) $97.33 Vested (179,866 ) $95.78 Forfeited (10,056 ) $95.07 Outstanding as of April 3, 2016 772,907 $102.24
Schedule of Information Pertaining to Fair Value of PSUs and RSUs Granted for Potential Future Distribution	The following table sets forth information about the fair value of the PSUs and RSUs granted for potential future distribution to employees and non-employee directors. In addition, the table provides assumptions used to determine the fair value of the market-based total shareholder return component using the Monte Carlo simulation model on the date of grant. Three Months Ended April 3, 2016 April 5, 2015 Units granted 483,678 266,099 Weighted-average fair value at date of grant $ 92.88 $ 109.35 Monte Carlo simulation assumptions: Estimated values $ 38.02 $ 61.22 Dividend yields 2.5 % 2.0 % Expected volatility 17.0 % 14.9 %

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Apr. 03, 2016
Segment Reporting [Abstract]
Summary of Net Sales and Earnings, and Depreciation and Amortization, by Segment	Our segment net sales and earnings were as follows: Three Months Ended April 3, 2016 April 5, 2015 Net sales: North America $ 1,633,471 $ 1,706,995 International and Other 195,341 230,805 Total $ 1,828,812 $ 1,937,800 Segment income: North America $ 529,390 $ 554,306 International and Other (13,233 ) (21,759 ) Total segment income 516,157 532,547 Unallocated corporate expense (1) 122,171 138,672 Unallocated mark-to-market losses on commodity derivatives (2) 34,946 — Charges associated with business realignment activities 14,430 5,140 Non-service related pension expense 5,101 1,996 Acquisition integration costs — 2,573 Operating profit 339,509 384,166 Interest expense, net 21,005 19,202 Other (income) expense, net (21,225 ) (9,840 ) Income before income taxes $ 339,729 $ 374,804 (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. (2) Reflects gains and losses on commodity derivative instruments that are excluded from segment income until the related inventory is sold. The activity within the unallocated mark-to-market gains (losses) on commodity derivatives for the quarter ended April 3, 2016 included: Three Months Ended April 3, 2016 Net losses on mark-to-market valuation of unallocated commodity derivative positions $ (38,941 ) Net losses on commodity derivative positions allocated to segment income (3,995 ) Net losses on mark-to-market valuation of commodity derivative positions remaining in unallocated derivative gains (losses) $ (34,946 ) Based on our forecasts of the timing of the recognition of the underlying hedged items, we expect to reclassify losses on commodity derivatives of $13.6 million after tax to segment operating results in the next twelve months. Depreciation and amortization expense included within segment income presented above is as follows: Three Months Ended April 3, 2016 April 5, 2015 North America $ 38,942 $ 35,440 International and Other 10,923 11,124 Corporate 10,048 11,774 Total $ 59,913 $ 58,338
Summary of Activity Within the Unallocated Mark-to-market Gains (Losses) on Commodity Derivatives	The activity within the unallocated mark-to-market gains (losses) on commodity derivatives for the quarter ended April 3, 2016 included: Three Months Ended April 3, 2016 Net losses on mark-to-market valuation of unallocated commodity derivative positions $ (38,941 ) Net losses on commodity derivative positions allocated to segment income (3,995 ) Net losses on mark-to-market valuation of commodity derivative positions remaining in unallocated derivative gains (losses) $ (34,946 )

TREASURY STOCK ACTIVITY (Tables

TREASURY STOCK ACTIVITY (Tables)	3 Months Ended
	Apr. 03, 2016
Equity [Abstract]
Summary of Treasury Stock Activity	A summary of our treasury stock activity is as follows: Three Months Ended April 3, 2016 Shares Dollars In thousands Shares repurchased in the open market under pre-approved share repurchase programs 3,366,761 $ 303,950 Shares issued for stock options and incentive compensation (718,604 ) (29,897 ) Net change 2,648,157 $ 274,053

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Apr. 03, 2016
Earnings Per Share [Abstract]
Basic and Diluted 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 April 3, 2016 April 5, 2015 Common Stock Class B Common Stock Common Stock Class B Common Stock Basic earnings per share: Numerator: Allocation of distributed earnings (cash dividends paid) $ 90,238 $ 32,129 $ 84,920 $ 29,461 Allocation of undistributed earnings 79,376 28,089 97,066 33,290 Total earnings—basic $ 169,614 $ 60,218 $ 181,986 $ 62,751 Denominator (shares in thousands): Total weighted-average shares—basic 155,675 60,620 160,024 60,620 Earnings Per Share—basic $ 1.09 $ 0.99 $ 1.14 $ 1.04 Diluted earnings per share: Numerator: Allocation of total earnings used in basic computation $ 169,614 $ 60,218 $ 181,986 $ 62,751 Reallocation of total earnings as a result of conversion of Class B common stock to Common stock 60,218 — 62,751 — Reallocation of undistributed earnings — (158 ) — (318 ) Total earnings—diluted $ 229,832 $ 60,060 $ 244,737 $ 62,433 Denominator (shares in thousands): Number of shares used in basic computation 155,675 60,620 160,024 60,620 Weighted-average effect of dilutive securities: Conversion of Class B common stock to Common shares outstanding 60,620 — 60,620 — Employee stock options 1,005 — 1,687 — Performance and restricted stock options 187 — 388 — Total weighted-average shares—diluted 217,487 60,620 222,719 60,620 Earnings Per Share—diluted $ 1.06 $ 0.99 $ 1.10 $ 1.03

SUPPLEMENTAL BALANCE SHEET IN40

SUPPLEMENTAL BALANCE SHEET INFORMATION (Tables)	3 Months Ended
	Apr. 03, 2016
SUPPLEMENTAL BALANCE SHEET INFORMATION [Abstract]
Schedule of Supplemental Balance Sheet Information [Table Text Block]	The components of certain Consolidated Balance Sheet accounts are as follows: Inventories: April 3, 2016 December 31, 2015 Raw materials $ 335,838 $ 353,451 Goods in process 107,055 67,745 Finished goods 516,365 534,983 Inventories at FIFO 959,258 956,179 Adjustment to LIFO (188,876 ) (205,209 ) Total inventories $ 770,382 $ 750,970 Property, plant and equipment: April 3, 2016 December 31, 2015 Land $ 96,893 $ 96,666 Buildings 1,217,106 1,084,958 Machinery and equipment 2,945,966 2,886,723 Construction in progress 285,761 448,956 Property, plant and equipment, gross 4,545,726 4,517,303 Accumulated depreciation (2,315,655 ) (2,276,843 ) Property, plant and equipment, net $ 2,230,071 $ 2,240,460 Other assets: April 3, 2016 December 31, 2015 Capitalized software, net $ 69,726 $ 68,004 Income tax receivable 1,474 1,428 Other non-current assets 113,904 85,934 Total other assets $ 185,104 $ 155,366 Accrued liabilities: April 3, 2016 December 31, 2015 Payroll, compensations and benefits $ 162,465 $ 215,638 Advertising and promotion 351,561 337,945 Due to SGM shareholders — 72,025 Other 255,767 231,359 Total accrued liabilities $ 769,793 $ 856,967 Other long-term liabilities: April 3, 2016 December 31, 2015 Post-retirement benefits liabilities $ 229,832 $ 231,412 Pension benefits liabilities 124,740 122,681 Other 110,951 114,625 Total other long-term liabilities $ 465,523 $ 468,718

BUSINESS ACQUISITIONS AND DIV41

BUSINESS ACQUISITIONS AND DIVESTITURES - 2016 SHANGHAI GOLDEN MONKEY (Details) - USD ($) $ in Thousands	Feb. 03, 2016	Apr. 03, 2016	Apr. 05, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Payments to acquire businesses		$ 35,762	$ 0
Business combination, gain recognized		26,650	0
Shanghai Golden Monkey Food Joint Stock Co., Ltd.
Business Acquisition [Line Items]
Percentage of voting interests acquired	20.00%			100.00%
Payments to acquire businesses	$ 35,762
Business combination, gain recognized	$ 26,650	$ 26,650	$ 0

BUSINESS ACQUISITIONS AND DIV42

BUSINESS ACQUISITIONS AND DIVESTITURES - KRAVE PURE FOODS NARRATIVE (Details) - USD ($)	1 Months Ended		3 Months Ended		10 Months Ended	12 Months Ended
	Dec. 31, 2015	Mar. 31, 2015	Apr. 03, 2016	Apr. 05, 2015	Dec. 31, 2015	Dec. 31, 2014	Oct. 04, 2015
Business Acquisition [Line Items]
Payments to acquire businesses			$ 35,762,000	$ 0
KRAVE Pure Foods, Inc.
Business Acquisition [Line Items]
Business acquisition, revenue reported by acquired entity for last annual period						$ 35,000,000
Payments to acquire businesses					$ 220,016,000
Maximum contingent consideration amount		$ 20,000,000
Fair value of the contingent consideration		$ 16,800,000					$ 10,000,000
Payment of contingent consideration	$ 10,000,000
KRAVE Pure Foods, Inc. | Trademarks
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life		22 years
KRAVE Pure Foods, Inc. | Other intangible assets | Minimum
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life		5 years
KRAVE Pure Foods, Inc. | Other intangible assets | Maximum
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life		16 years

BUSINESS ACQUISITIONS AND DIV43

BUSINESS ACQUISITIONS AND DIVESTITURES - KRAVE PURE FOODS ASSETS ACQUIRED AND LIABILITIES ASSUMED ALLOCATION (Details) - USD ($) $ in Thousands	Apr. 03, 2016	Dec. 31, 2015	Mar. 31, 2015
Business Acquisition [Line Items]
Goodwill	$ 690,654	$ 684,252
KRAVE Pure Foods, Inc.
Business Acquisition [Line Items]
Goodwill			$ 147,089
Other current assets			9,465
Current liabilities			(2,756)
Non-current deferred tax liabilities			(47,344)
Net assets acquired			235,454
Cash acquired from acquisition			1,362
KRAVE Pure Foods, Inc. | Trademarks
Business Acquisition [Line Items]
Finite-lived intangible assets			112,000
KRAVE Pure Foods, Inc. | Other intangible assets
Business Acquisition [Line Items]
Finite-lived intangible assets			$ 17,000

BUSINESS ACQUISITIONS AND DIV44

BUSINESS ACQUISITIONS AND DIVESTITURES - 2015 DIVESTITURE NARRATIVE (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Apr. 03, 2016	Apr. 05, 2015	Dec. 31, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business	$ 0	$ 32,408
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on disposal of business		2,667	$ 22,256
Goodwill and other intangible asset impairment charges			$ 18,531
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations | Mauna Loa Macadamia Nut Corporation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business		$ 32,400

GOODWILL AND INTANGIBLE ASSET45

GOODWILL AND INTANGIBLE ASSETS - SUMMARY OF CHANGES IN CARRYING VALUE OF GOODWILL BY REPORTABLE SEGMENT (Details) $ in Thousands	3 Months Ended
	Apr. 03, 2016USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 684,252
Foreign currency translation	6,402
Goodwill, ending balance	690,654
Operating Segments | North America
Goodwill [Roll Forward]
Goodwill, beginning balance	662,083
Foreign currency translation	6,471
Goodwill, ending balance	668,554
Operating Segments | International and Other
Goodwill [Roll Forward]
Goodwill, beginning balance	22,169
Foreign currency translation	(69)
Goodwill, ending balance	$ 22,100

GOODWILL AND INTANGIBLE ASSET46

GOODWILL AND INTANGIBLE ASSETS - NARRATIVE (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Goodwill [Line Items]
Amortization expense	$ 5,180	$ 5,014

GOODWILL AND INTANGIBLE ASSET47

GOODWILL AND INTANGIBLE ASSETS - CARRYING AMOUNTS AND ACCUMULATED AMORTIZATION (Details) - USD ($) $ in Thousands	Apr. 03, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 393,146	$ 390,900
Finite-lived intangible assets, accumulated amortization	(61,575)	(55,370)
Total other intangible assets	375,309	379,305
Trademarks
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets, excluding goodwill	$ 43,738	$ 43,775

SHORT AND LONG-TERM DEBT - SHOR

SHORT AND LONG-TERM DEBT - SHORT-TERM DEBT (Details) - USD ($)	Apr. 03, 2016	Dec. 31, 2015
Line of Credit Facility [Line Items]
Short-term debt	$ 520,564,000	$ 363,513,000
Commercial Paper
Line of Credit Facility [Line Items]
Short-term debt	$ 300,942,000	$ 49,993,000
Short-term debt, weighted average interest rate	0.39%	0.40%
Revolving Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 1,000,000,000
Line of credit facility, accordion feature increase limit	400,000,000
Revolving Credit Facility | Foreign Line of Credit
Line of Credit Facility [Line Items]
Short-term foreign bank loans against the lines of credit	$ 219,622,000	$ 313,520,000

SHORT AND LONG-TERM DEBT - SUMM

SHORT AND LONG-TERM DEBT - SUMMARY OF LONG TERM DEBT (Details) - USD ($) $ in Thousands	Apr. 03, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Total long-term debt	$ 2,071,404	$ 2,057,014
Less—current portion	500,016	499,923
Long-term portion	1,571,388	1,557,091
Corporate Debt Securities | 5.45% Notes due 2016
Debt Instrument [Line Items]
Total long-term debt	250,000	250,000
Corporate Debt Securities | 1.50% Notes due 2016
Debt Instrument [Line Items]
Total long-term debt	250,000	250,000
Corporate Debt Securities | 1.60% Notes due 2018
Debt Instrument [Line Items]
Total long-term debt	300,000	300,000
Corporate Debt Securities | 4.125% Notes due 2020
Debt Instrument [Line Items]
Total long-term debt	350,000	350,000
Corporate Debt Securities | 8.8% Debentures due 2021
Debt Instrument [Line Items]
Total long-term debt	84,715	84,715
Corporate Debt Securities | 2.625% Notes due 2023
Debt Instrument [Line Items]
Total long-term debt	250,000	250,000
Corporate Debt Securities | 3.20% Notes due 2025
Debt Instrument [Line Items]
Total long-term debt	300,000	300,000
Corporate Debt Securities | 7.2% Debentures due 2027
Debt Instrument [Line Items]
Total long-term debt	193,639	193,639
Notes Payable to Banks | Other obligations, net of debt issuance costs and unamortized debt discount
Debt Instrument [Line Items]
Total long-term debt	$ 93,050	$ 78,660

SHORT AND LONG-TERM DEBT - LONG

SHORT AND LONG-TERM DEBT - LONG TERM DEBT INTEREST RATES (Details) - Corporate Debt Securities	Apr. 03, 2016	Dec. 31, 2015
5.45% Notes due 2016
Debt Instrument [Line Items]
Interest rate, stated percentage	5.45%	5.45%
1.50% Notes due 2016
Debt Instrument [Line Items]
Interest rate, stated percentage	1.50%	1.50%
1.60% Notes due 2018
Debt Instrument [Line Items]
Interest rate, stated percentage	1.60%	1.60%
4.125% Notes due 2020
Debt Instrument [Line Items]
Interest rate, stated percentage	4.125%	4.125%
8.8% Debentures due 2021
Debt Instrument [Line Items]
Interest rate, stated percentage	8.80%	8.80%
2.625% Notes due 2023
Debt Instrument [Line Items]
Interest rate, stated percentage	2.625%	2.625%
3.20% Notes due 2025
Debt Instrument [Line Items]
Interest rate, stated percentage	3.20%	3.20%
7.2% Debentures due 2027
Debt Instrument [Line Items]
Interest rate, stated percentage	7.20%	7.20%

SHORT AND LONG-TERM DEBT - INTE

SHORT AND LONG-TERM DEBT - INTEREST EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Debt Disclosure [Abstract]
Interest expense	$ 23,525	$ 23,024
Less: Capitalized interest	(2,175)	(3,017)
Interest expense	21,350	20,007
Interest income	(345)	(805)
Interest expense, net	$ 21,005	$ 19,202

DERIVATIVE INSTRUMENTS AND FA52

DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS - NARRATIVE (Details) - USD ($)	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015	Dec. 31, 2015
Derivative [Line Items]
Cash flow hedge gain (loss) to be reclassified within twelve months	$ 6,112,000
Significant other unobservable inputs (Level 3)
Derivative [Line Items]
Fair value, net asset (liability)	$ 0		$ 0
Commodities futures and options
Derivative [Line Items]
Minimum length of time, hedged in cash flow hedge	3 months
Maximum length of time, hedged in cash flow hedge	24 months
Foreign exchange contracts
Derivative [Line Items]
Minimum length of time, hedged in cash flow hedge	3 months
Maximum length of time, hedged in cash flow hedge	24 months
Foreign exchange contracts | Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Derivative, notional amount	$ 53,646,000		10,752,000
Foreign exchange contracts | Non-designated Hedges
Derivative [Line Items]
Derivative, notional amount	2,791,000		2,791,000
Interest rate swap agreements | Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Derivative, notional amount	500,000,000		500,000,000
Interest rate swap agreements | Designated as Hedging Instrument | Fair Value Hedging | Significant other observable inputs (Level 2)
Derivative [Line Items]
Derivative, notional amount	350,000,000		$ 350,000,000
Deferred compensation derivatives
Derivative [Line Items]
Derivative, notional amount	$ 22,672,000
Deferred compensation derivatives | Non-designated Hedges | Minimum
Derivative [Line Items]
Derivative, term of contract	3 months
Deferred compensation derivatives | Non-designated Hedges | Maximum
Derivative [Line Items]
Derivative, term of contract	12 months
Interest Rate Swap | Designated as Hedging Instrument | Fair Value Hedging | Interest Expense
Derivative [Line Items]
Fair value hedges, pre-tax benefit	$ 1,317,000	$ 2,095,000

DERIVATIVE INSTRUMENTS AND FA53

DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS - ASSETS AND LIABILITIES MEASURED AT FAIR VALUE (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Apr. 03, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Derivative asset	$ 16,984	$ 5,947
Derivative liability	88,074	42,827
Designated as Hedging Instrument | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Derivative asset	345	367
Derivative liability	74,224	41,253
Designated as Hedging Instrument | Cash Flow Hedges | Commodities futures and options
Derivatives, Fair Value [Line Items]
Derivative asset	0	0
Derivative liability	0	479
Designated as Hedging Instrument | Cash Flow Hedges | Commodities futures and options | Quoted prices in active markets of identical assets (Level 1)
Derivatives, Fair Value [Line Items]
Gross derivative assets, included within derivative liabilities	56,866	54,090
Derivative liability, gross liabilities	68,030	54,860
Designated as Hedging Instrument | Cash Flow Hedges | Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Derivative asset	345	367
Derivative liability	4,132	475
Designated as Hedging Instrument | Cash Flow Hedges | Interest rate swap agreements
Derivatives, Fair Value [Line Items]
Derivative asset	0	0
Derivative liability	70,092	40,299
Designated as Hedging Instrument | Fair Value Hedging | Interest rate swap agreements
Derivatives, Fair Value [Line Items]
Derivative asset	16,236	4,313
Derivative liability	0	0
Non-designated Hedges
Derivatives, Fair Value [Line Items]
Derivative asset	403	1,267
Derivative liability	13,850	1,574
Non-designated Hedges | Commodities futures and options
Derivatives, Fair Value [Line Items]
Derivative asset	0	0
Derivative liability	13,678	1,574
Non-designated Hedges | Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Derivative asset	0	69
Derivative liability	172	0
Non-designated Hedges | Deferred compensation derivatives
Derivatives, Fair Value [Line Items]
Derivative asset	403	1,198
Derivative liability	$ 0	$ 0

DERIVATIVE INSTRUMENTS AND FA54

DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS - FAIR VALUE OF LONG TERM DEBT (Details) - USD ($) $ in Thousands	Apr. 03, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of long-term debt	$ 500,016	$ 499,923
Long-term portion	1,571,388	1,557,091
Total long-term debt	2,071,404	2,057,014
Significant other observable inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of long-term debt	504,835	509,580
Long-term debt	1,733,643	1,668,379
Total	2,238,478	2,177,959
Current portion of long-term debt	500,016	499,923
Long-term portion	1,571,388	1,557,091
Total long-term debt	$ 2,071,404	$ 2,057,014

DERIVATIVE INSTRUMENTS AND FA55

DERIVATIVE INSTRUMENTS AND FAIR VALUE MEASUREMENTS - EFFECTS OF DERIVATIVE INSTRUMENTS ON THE CONSOLIDATED STATEMENTS OF INCOME (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Commodities futures and options
Derivative [Line Items]
Gains (losses) recognized in income	$ (38,941)
Non-designated Hedges
Derivative [Line Items]
Gains (losses) recognized in income	(38,742)	$ (2,672)
Non-designated Hedges | Commodities futures and options
Derivative [Line Items]
Gains (losses) recognized in income	(38,941)	(2,777)
Non-designated Hedges | Foreign exchange contracts
Derivative [Line Items]
Gains (losses) recognized in income	(204)	(67)
Non-designated Hedges | Interest rate swap agreements
Derivative [Line Items]
Gains (losses) recognized in income	0	0
Non-designated Hedges | Deferred compensation derivatives
Derivative [Line Items]
Gains (losses) recognized in income	403	172
Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Gains (losses) recognized in other comprehensive income (“OCI”) (effective portion)	(33,909)	(42,212)
Gains (losses) reclassified from accumulated OCI into income (effective portion)	7,909	352
Gains recognized in income (ineffective portion)	0	(287)
Designated as Hedging Instrument | Cash Flow Hedges | Commodities futures and options
Derivative [Line Items]
Gains (losses) recognized in other comprehensive income (“OCI”) (effective portion)	0	(15,098)
Gains (losses) reclassified from accumulated OCI into income (effective portion)	9,730	1,200
Gains recognized in income (ineffective portion)	0	(287)
Designated as Hedging Instrument | Cash Flow Hedges | Foreign exchange contracts
Derivative [Line Items]
Gains (losses) recognized in other comprehensive income (“OCI”) (effective portion)	(4,116)	1,240
Gains (losses) reclassified from accumulated OCI into income (effective portion)	(261)	341
Gains recognized in income (ineffective portion)	0	0
Designated as Hedging Instrument | Cash Flow Hedges | Interest rate swap agreements
Derivative [Line Items]
Gains (losses) recognized in other comprehensive income (“OCI”) (effective portion)	(29,793)	(28,354)
Gains (losses) reclassified from accumulated OCI into income (effective portion)	(1,560)	(1,189)
Gains recognized in income (ineffective portion)	0	0
Designated as Hedging Instrument | Cash Flow Hedges | Deferred compensation derivatives
Derivative [Line Items]
Gains (losses) recognized in other comprehensive income (“OCI”) (effective portion)	0	0
Gains (losses) reclassified from accumulated OCI into income (effective portion)	0	0
Gains recognized in income (ineffective portion)	$ 0	$ 0

NONCONTROLLING INTERESTS IN S56

NONCONTROLLING INTERESTS IN SUBSIDIARIES (Details) $ in Thousands	3 Months Ended
	Apr. 03, 2016USD ($)
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance, December 31, 2015	$ 49,465
Net income (loss) attributable to noncontrolling interest	(475)
Other comprehensive loss - foreign currency translation adjustments	(1,076)
Balance, April 3, 2016	47,914
Noncontrolling Interest
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Net income (loss) attributable to noncontrolling interest	$ (475)
Lotte Shanghai Food Company | Noncontrolling Interest
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	50.00%

COMPREHENSIVE INCOME - COMPONEN

COMPREHENSIVE INCOME - COMPONENTS OF COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net income	$ 229,832	$ 244,737
Pre-Tax Amount
Other comprehensive income (loss), before tax	(20,972)	(61,620)
Other Comprehensive Income (Loss), Tax [Abstract]
Other comprehensive income (loss), tax	11,183	12,872
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Total other comprehensive loss, net of tax	(9,789)	(48,748)
Total comprehensive income	220,043	195,989
Comprehensive loss attributable to noncontrolling interests	1,076	3,509
Comprehensive income attributable to The Hershey Company	221,119	199,498
Foreign currency translation adjustments
Pre-Tax Amount
Other comprehensive income (loss), before reclassifications, before tax	12,166	(27,718)
Other Comprehensive Income (Loss), Tax [Abstract]
Other comprehensive income (loss) before reclassifications, tax	0	0
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Other comprehensive income (loss), before reclassifications, net of tax	12,166	(27,718)
Pension and Post-retirement benefit plans
Pre-Tax Amount
Other comprehensive income (loss), before tax	8,680	8,662
Other Comprehensive Income (Loss), Tax [Abstract]
Other comprehensive income (loss), tax	(3,579)	(3,201)
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Total other comprehensive loss, net of tax	5,101	5,461
Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest
Pre-Tax Amount
Other comprehensive income (loss), before reclassifications, before tax	(33,909)	(42,212)
Reclassification from accumulated other comprehensive income, current period, before tax	(7,909)	(352)
Other Comprehensive Income (Loss), Tax [Abstract]
Other comprehensive income (loss) before reclassifications, tax	11,765	16,120
Reclassification from AOCI, current period, tax	2,997	(47)
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Other comprehensive income (loss), before reclassifications, net of tax	(22,144)	(26,092)
Reclassification from accumulated other comprehensive income, current period, net of tax	$ (4,912)	$ (399)

COMPREHENSIVE INCOME - COMPON58

COMPREHENSIVE INCOME - COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands	Apr. 03, 2016	Dec. 31, 2015
Equity [Abstract]
Foreign currency translation adjustments	$ (87,994)	$ (101,236)
Pension and post-retirement benefit plans, net of tax	(249,547)	(254,648)
Cash flow hedges, net of tax	(42,197)	(15,141)
Total accumulated other comprehensive loss	$ (379,738)	$ (371,025)

OTHER (INCOME) EXPENSE, NET (De

OTHER (INCOME) EXPENSE, NET (Details) - USD ($) $ in Thousands	Feb. 03, 2016	Apr. 03, 2016	Apr. 05, 2015
Finite-Lived Intangible Assets [Line Items]
Write-down of equity investments in partnerships qualifying for tax credits (see Note 9)		$ 5,593	$ 0
Gain on settlement of SGM liability (see Note 2)		(26,650)	0
Other (income) expense, net		(168)	110
Other (income) expense, net		(21,225)	(9,840)
Shanghai Golden Monkey Food Joint Stock Co., Ltd.
Finite-Lived Intangible Assets [Line Items]
Gain on settlement of SGM liability (see Note 2)	$ (26,650)	(26,650)	0
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gain on sale of non-core trademark		$ 0	(9,950)
Nonoperating Income (Expense)
Finite-Lived Intangible Assets [Line Items]
Reclassification adjustment			9,840
Selling, marketing and administrative
Finite-Lived Intangible Assets [Line Items]
Reclassification adjustment			$ (9,840)

INCOME TAXES - NARRATIVE (Detai

INCOME TAXES - NARRATIVE (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Income Tax Contingency [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%
Effective Income Tax Rate Reconciliation, Percent	32.30%	34.70%
Expected reduction in the liability for unrecognized tax benefits within the next 12 months	$ 6,433
Investment tax credits and related tax depreciation benefits	6,618
Write-down of equity investments in partnerships qualifying for tax credits (see Note 9)	5,593	$ 0
Other Nonoperating Income (Expense) | Partnerships Qualifying For Tax Credits
Income Tax Contingency [Line Items]
Write-down of equity investments in partnerships qualifying for tax credits (see Note 9)	$ 5,593

BUSINESS REALIGNMENT AND IMPA61

BUSINESS REALIGNMENT AND IMPAIRMENT CHARGES - NARRATIVE (Details) $ in Thousands	3 Months Ended			6 Months Ended
	Apr. 03, 2016USD ($)	Dec. 31, 2015USD ($)	Apr. 05, 2015USD ($)	Dec. 31, 2015employee
Restructuring Cost and Reserve [Line Items]
Business realignment charges	$ 14,430		$ 5,140
2015 productivity initiative
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected number of positions eliminated (employee) | employee				300
Business realignment charges	1,458
Costs incurred to date	107,211
Total expected cost	110,000
2015 productivity initiative | Pension Settlement
Restructuring Cost and Reserve [Line Items]
Business realignment charges		$ 10,178
China structure optimization
Restructuring Cost and Reserve [Line Items]
Business realignment charges	$ 12,972

BUSINESS REALIGNMENT AND IMPA62

BUSINESS REALIGNMENT AND IMPAIRMENT CHARGES - REALIGNMENT RELATED CHARGES BY INCOME STATEMENT LOCATION (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Restructuring Cost and Reserve [Line Items]
Business realignment charges	$ 14,430	$ 5,140
China structure optimization
Restructuring Cost and Reserve [Line Items]
Business realignment charges	12,972
2015 productivity initiative
Restructuring Cost and Reserve [Line Items]
Business realignment charges	1,458
Cost of sales
Restructuring Cost and Reserve [Line Items]
Business realignment charges	(487)	1,348
Cost of sales | China structure optimization
Restructuring Cost and Reserve [Line Items]
Business realignment charges	(487)	0
Cost of sales | Other international restructuring programs
Restructuring Cost and Reserve [Line Items]
Business realignment charges	0	1,348
Selling, marketing and administrative
Restructuring Cost and Reserve [Line Items]
Business realignment charges	8,784	1,125
Selling, marketing and administrative | China structure optimization
Restructuring Cost and Reserve [Line Items]
Business realignment charges	6,032
Selling, marketing and administrative | Other international restructuring programs
Restructuring Cost and Reserve [Line Items]
Business realignment charges	0	1,125
Selling, marketing and administrative | 2015 productivity initiative
Restructuring Cost and Reserve [Line Items]
Business realignment charges	2,752	0
Business realignment charges
Restructuring Cost and Reserve [Line Items]
Business realignment charges	6,133	2,667
Business realignment charges | Mauna Loa Macadamia Nut Corporation
Restructuring Cost and Reserve [Line Items]
Business realignment charges	0	2,667
Business realignment charges | 2015 productivity initiative
Restructuring Cost and Reserve [Line Items]
Business realignment charges	(1,294)	0
Business realignment charges | China integration initiative
Restructuring Cost and Reserve [Line Items]
Business realignment charges	$ 7,427	$ 0

BUSINESS REALIGNMENT AND IMPA63

BUSINESS REALIGNMENT AND IMPAIRMENT CHARGES - REALIGMNMENT RESERVE ROLLFORWARD (Details) $ in Thousands	3 Months Ended
	Apr. 03, 2016USD ($)
Restructuring Reserve [Roll Forward]
Liability balance at December 31, 2015	$ 16,310
2016 business realignment charges	6,133
Cash payments	(6,918)
Other, net	(161)
Liability balance at April 3, 2016	$ 15,364

PENSION AND OTHER POST-RETIRE64

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - NARRATIVE (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	$ 1,175	$ 851
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	7,664	$ 4,456
Domestic Plans
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	$ 18,500

PENSION AND OTHER POST-RETIRE65

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - COMPONENTS OF NET PERIODIC BENEFIT COST (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Pension Benefits
Amounts recognized in net periodic benefit cost
Service cost	$ 5,884	$ 7,423
Interest cost	10,835	11,305
Expected return on plan assets	(14,541)	(17,381)
Amortization of prior service (credit) cost	(262)	(291)
Amortization of net loss	8,807	8,072
Total net periodic benefit cost	10,723	9,128
Other Benefits
Amounts recognized in net periodic benefit cost
Service cost	74	172
Interest cost	2,436	2,588
Expected return on plan assets	0	0
Amortization of prior service (credit) cost	144	153
Amortization of net loss	(12)	0
Total net periodic benefit cost	$ 2,642	$ 2,913

STOCK COMPENSATION PLANS - NARR

STOCK COMPENSATION PLANS - NARRATIVE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized	$ 99,775
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition	2 years 4 months
Intrinsic value of share-based liabilities paid, combined with the fair value of shares vested (in millions of dollars)	$ 16,181	$ 37,464
Deferred performance stock units, deferred restricted stock units, and directors' fees and accumulated dividend amounts representing deferred stock units outstanding	474,483
Employee stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average fair value of options granted (per share)	$ 11.42	$ 19.31
Intrinsic value of options exercised (in millions of dollars)	$ 20,348	$ 39,606
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock units for which measurement date has not yet occurred for accounting purposes (shares)	6,893		20,586
Performance Stock Units and Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, conversion basis (shares)	1

STOCK COMPENSATION PLANS - COMP

STOCK COMPENSATION PLANS - COMPENSATION EXPENSE AND INCOME TAX BENEFITS FOR STOCK-BASED COMPENSATION PROGRAMS (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Pre-tax compensation expense	$ 11,678	$ 13,889
Related income tax benefit	$ 4,087	$ 4,861

STOCK COMPENSATION PLANS - STOC

STOCK COMPENSATION PLANS - STOCK OPTION ACTIVITY (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding shares at beginning of year (shares)	6,842,563
Granted (shares)	1,326,045
Exercised (shares)	(583,269)
Forfeited (shares)	(96,163)
Outstanding as of December 31, 2015 (shares)	7,489,176
Options exercisable as of December 31, 2015 (shares)	4,596,241
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding (USD per share)	$ 75.48
Granted (USD per share)	90.38
Exercises (USD per share)	54.65
Forfeited (USD per share)	104.33
Outstanding (USD per share)	79.34
Options exercisable (USD per share)	$ 68.79
Options outstanding, weighted-average remaining contractual term	6 years 7 months	5 years 9 months
Options exercisable, weighted aver remaining contractual term	5 years 1 month
Aggregate intrinsic value of options outstanding	$ 114,827
Aggregate intrinsic value of options exercisable	$ 112,614

STOCK COMPENSATION PLANS - FAIR

STOCK COMPENSATION PLANS - FAIR VALUE WEIGHTED-AVERAGE ASSUMPTIONS (Details)	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Dividend yields	2.40%	2.00%
Expected volatility	16.80%	20.80%
Risk-free interest rates	1.50%	1.90%
Expected lives in years	6 years 9 months	6 years 8 months

STOCK COMPENSATION PLANS - SUMM

STOCK COMPENSATION PLANS - SUMMARY OF PSUs AND RSUs ACTIVITY (Details) - Performance and restricted stock options - $ / shares	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at beginning of year (shares)	495,207
Granted (shares)	483,678	266,099
Performance assumption change (shares)	(16,056)
Vested (shares)	(179,866)
Forfeited (shares)	(10,056)
Outstanding at end of year (shares)	772,907
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Outstanding at beginning of year (USD per share)	$ 106.40
Weighted-average fair value at date of grant (USD per share)	92.88	$ 109.35
Performance assumption change	97.33
Vested (USD per share)	95.78
Forfeited (USD per share)	95.07
Outstanding at end of year (USD per share)	$ 102.24

STOCK COMPENSATION PLANS - PSUs

STOCK COMPENSATION PLANS - PSUs AND RSUS FAIR VALUE WEIGHTED-AVERAGE ASSUMPTIONS (Details) - $ / shares	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yields	2.40%	2.00%
Performance and restricted stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (shares)	483,678	266,099
Weighted-average fair value at date of grant (USD per share)	$ 92.88	$ 109.35
Estimated values (USD per share)	$ 38.02		$ 61.22
Dividend yields	2.50%	2.00%
Expected volatility	17.00%	14.90%

SEGMENT INFORMATION NARRATIVE (

SEGMENT INFORMATION NARRATIVE (Details)	3 Months Ended
	Apr. 03, 2016
North America | Geographic Concentration Risk | Sales Revenue, Goods, Net
Revenue, Major Customer [Line Items]
Concentration risk, percentage	89.00%

SEGMENT INFORMATION SALES AND I

SEGMENT INFORMATION SALES AND INCOME (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Segment Reporting Information [Line Items]
Net Sales	$ 1,828,812	$ 1,937,800
Operating Income (Loss)	339,509	384,166
Charges associated with business realignment activities	14,430	5,140
Interest expense, net	21,005	19,202
Other (income) expense, net	(21,225)	(9,840)
Income before income taxes	339,729	374,804
Operating Segments
Segment Reporting Information [Line Items]
Operating Income (Loss)	516,157	532,547
Operating Segments | North America
Segment Reporting Information [Line Items]
Net Sales	1,633,471	1,706,995
Operating Income (Loss)	529,390	554,306
Operating Segments | International and Other
Segment Reporting Information [Line Items]
Net Sales	195,341	230,805
Operating Income (Loss)	(13,233)	(21,759)
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Operating Income (Loss)	122,171	138,672
Segment Reconciling Items
Segment Reporting Information [Line Items]
Derivative gains (losses) recognized in income	34,946	0
Charges associated with business realignment activities	14,430	5,140
Non-service related pension expense	5,101	1,996
Acquisition integration costs	$ 0	$ 2,573

SEGMENT INFORMATION (SUMMARY OF

SEGMENT INFORMATION (SUMMARY OF DERIVATIVE INFORMATION) (Details) - Commodities futures and options - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Apr. 03, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
Derivative gains (losses) recognized in income	$ (38,941)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Derivative gains (losses) recognized in income	(34,946)
Operating Segments
Segment Reporting Information [Line Items]
Derivative gains (losses) recognized in income	$ (3,995)
Operating Segments | Scenario, Forecast
Segment Reporting Information [Line Items]
Derivative gains (losses) recognized in income		$ 13,600

SEGMENT INFORMATION DEPRECIATIO

SEGMENT INFORMATION DEPRECIATION AND AMORTIZATION (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 59,913	$ 58,338
Operating Segments | North America
Segment Reporting Information [Line Items]
Depreciation and amortization	38,942	35,440
Operating Segments | International and Other
Segment Reporting Information [Line Items]
Depreciation and amortization	10,923	11,124
Corporate, Non-Segment | Corporate
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 10,048	$ 11,774

TREASURY STOCK ACTIVITY - NARRA

TREASURY STOCK ACTIVITY - NARRATIVE (Details) - USD ($) $ in Millions	Apr. 03, 2016	Apr. 05, 2015
2015 Share Repurchase Program
Class of Stock [Line Items]
Stock repurchase program, authorized amount		$ 250
2016 Share Repurchase Program
Class of Stock [Line Items]
Stock repurchase program, authorized amount	$ 500
Stock repurchase program, remaining authorized repurchase amount	$ 216

TREASURY STOCK ACTIVITY - COMMO

TREASURY STOCK ACTIVITY - COMMON STOCK OUTSTANDING (Details) $ in Thousands	3 Months Ended
	Apr. 03, 2016USD ($)shares
Class of Stock [Line Items]
Shares repurchased in the open market under pre-approved share repurchase programs (shares) | shares	3,366,761
Net change (shares) | shares	2,648,157
Shares repurchased in the open market under pre-approved share repurchase programs | $	$ 303,950
Net change | $	$ 274,053
Employee stock options
Class of Stock [Line Items]
Shares issued for stock options and incentive compensation (shares) | shares	(718,604)
Shares issued for stock options and incentive compensation | $	$ (29,897)

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Common stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dividends, Common Stock, Cash, Additional Percentage Over Class B Common Stock Dividends	10.00%
Basic earnings per share:
Allocation of distributed earnings (cash dividends paid)	$ 90,238	$ 84,920
Allocation of undistributed earnings	79,376	97,066
Total earnings—basic	$ 169,614	$ 181,986
Total weighted-average shares—basic (shares)	155,675	160,024
Earnings Per Share—basic (USD per share)	$ 1.09	$ 1.14
Diluted earnings per share:
Allocation of total earnings used in basic computation	$ 169,614	$ 181,986
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock	60,218	62,751
Reallocation of undistributed earnings	0	0
Total earnings—diluted	$ 229,832	$ 244,737
Conversion of Class B common stock to Common shares outstanding	60,620	60,620
Total weighted-average shares—diluted (shares)	217,487	222,719
Earnings Per Share—diluted (USD per share)	$ 1.06	$ 1.10
Common stock | Employee stock options
Diluted earnings per share:
Incremental common shares attributable to dilutive effect of share-based payment arrangements	1,005	1,687
Common stock | Performance and restricted stock options
Diluted earnings per share:
Incremental common shares attributable to dilutive effect of share-based payment arrangements	187	388
Class B common stock
Basic earnings per share:
Allocation of distributed earnings (cash dividends paid)	$ 32,129	$ 29,461
Allocation of undistributed earnings	28,089	33,290
Total earnings—basic	$ 60,218	$ 62,751
Total weighted-average shares—basic (shares)	60,620	60,620
Earnings Per Share—basic (USD per share)	$ 0.99	$ 1.04
Diluted earnings per share:
Allocation of total earnings used in basic computation	$ 60,218	$ 62,751
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock	0	0
Reallocation of undistributed earnings	(158)	(318)
Total earnings—diluted	$ 60,060	$ 62,433
Conversion of Class B common stock to Common shares outstanding	0	0
Total weighted-average shares—diluted (shares)	60,620	60,620
Earnings Per Share—diluted (USD per share)	$ 0.99	$ 1.03
Class B common stock | Employee stock options
Diluted earnings per share:
Incremental common shares attributable to dilutive effect of share-based payment arrangements	0	0
Class B common stock | Performance and restricted stock options
Diluted earnings per share:
Incremental common shares attributable to dilutive effect of share-based payment arrangements	0	0

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - shares shares in Thousands	3 Months Ended
	Apr. 03, 2016	Apr. 05, 2015
Employee stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (shares)	3,680	2,545

SUPPLEMENTAL BALANCE SHEET IN80

SUPPLEMENTAL BALANCE SHEET INFORMATION (Details) - USD ($) $ in Thousands	Apr. 03, 2016	Dec. 31, 2015
Inventory, Net [Abstract]
Inventory, Raw Materials, Net of Reserves	$ 335,838	$ 353,451
Inventory, Work in Process, Net of Reserves	107,055	67,745
Inventory, Finished Goods, Net of Reserves	516,365	534,983
FIFO Inventory Amount	959,258	956,179
Inventory, LIFO Reserve	(188,876)	(205,209)
Inventories	770,382	750,970
Property, Plant and Equipment [Abstract]
Land	96,893	96,666
Buildings and Improvements, Gross	1,217,106	1,084,958
Machinery and Equipment, Gross	2,945,966	2,886,723
Construction in Progress, Gross	285,761	448,956
Property, Plant and Equipment, Gross	4,545,726	4,517,303
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	(2,315,655)	(2,276,843)
Property, Plant and Equipment, Net	2,230,071	2,240,460
Other Assets, Noncurrent [Abstract]
Capitalized Computer Software, Net	69,726	68,004
Income Taxes Receivable, Noncurrent	1,474	1,428
Other Miscellaneous Assets, Non-Current	113,904	85,934
Other Assets, Noncurrent	185,104	155,366
Accrued Liabilities, Current [Abstract]
Employee-related Liabilities, Current	162,465	215,638
Accrued Marketing Costs, Current	351,561	337,945
Due to Related Parties, Current	0	72,025
Other Accrued Liabilities, Current	255,767	231,359
Accrued Liabilities, Current	769,793	856,967
Other Liabilities, Noncurrent [Abstract]
Other Postretirement Defined Benefit Plan, Liabilities, Noncurrent	229,832	231,412
Defined Benefit Pension Plan, Liabilities, Noncurrent	124,740	122,681
Other Miscellaneous Liabilities, Non-Current	110,951	114,625
Other Liabilities, Noncurrent	$ 465,523	$ 468,718