The Hershey Company (HSY) 10-Q 28 Apr 17 2017 Q1 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - USD ($)	3 Months Ended
	Apr. 02, 2017	Apr. 21, 2017	Jul. 01, 2016
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. 2, 2017
Document fiscal year focus	2,017
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			$ 15,563,409,682
Common stock
Document Information [Line Items]
Entity common stock, shares outstanding (shares)		152,166,921
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. 02, 2017	Apr. 03, 2016
Net sales	$ 1,879,678	$ 1,828,812
Cost of sales	973,118	1,011,436
Gross profit	906,560	817,376
Selling, marketing and administrative expense	461,900	471,734
Long-lived asset impairment charges	208,712	0
Business realignment costs	44,017	6,133
Operating profit	191,931	339,509
Interest expense, net	23,741	21,005
Other (income) expense, net	(171)	(21,225)
Income before income taxes	168,361	339,729
Provision for income taxes	70,113	109,897
Net income (loss) including noncontrolling interest	98,248	229,832
Net income (loss) attributable to noncontrolling interest	(26,796)	0
Net income (loss) attributable to The Hershey Company	$ 125,044	$ 229,832
Common stock
Net income per share—basic:
Net income per share - basic (USD per share)	$ 0.60	$ 1.09
Net income per share—diluted:
Net income per share - diluted (USD per share)	0.58	1.06
Dividends paid per share:
Dividends paid per share (USD per share)	0.618	0.583
Class B common stock
Net income per share—basic:
Net income per share - basic (USD per share)	0.55	0.99
Net income per share—diluted:
Net income per share - diluted (USD per share)	0.55	0.99
Dividends paid per share:
Dividends paid per share (USD per share)	$ 0.562	$ 0.530

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Statement of Comprehensive Income [Abstract]
Net income (loss) including noncontrolling interest	$ 98,248	$ 229,832
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, pre-tax amount	13,951	12,166
Foreign currency translation adjustments, tax (expense) benefit	0	0
Foreign currency translation adjustments, after-tax amount	13,951	12,166
Pension and post-retirement benefit plans:
Net actuarial gain (loss) and prior service cost, pre-tax amount	(196)	0
Net actuarial gain (loss) and prior service cost, tax (expense) benefit	74	0
Net actuarial gain (loss) and prior service cost, after-tax amount	(122)	0
Reclassification to earnings, pre-tax amount	7,153	8,680
Reclassification to earnings, tax (expense) benefit	(2,711)	(3,579)
Reclassification to earnings, after-tax amount	4,442	5,101
Cash flow hedges:
Gains (losses) on cash flow hedging derivatives, pre-tax amount	(1,499)	(33,909)
Gains (losses) on cash flow hedging derivatives, tax (expense) benefit	179	11,765
Gains (losses) on cash flow hedging derivatives, after-tax amount	(1,320)	(22,144)
Reclassification to earnings, pre-tax amount	3,033	(7,909)
Reclassification to earnings, tax (expense) benefit	(1,166)	2,997
Reclassification to earnings, after-tax amount	1,867	(4,912)
Total other comprehensive income (loss), pre-tax amount	22,442	(20,972)
Total other comprehensive income (loss), tax (expense) benefit	(3,624)	11,183
Total other comprehensive income (loss), after-tax amount	18,818	(9,789)
Total comprehensive income (loss) including noncontrolling interest	117,066	220,043
Comprehensive income (loss) attributable to noncontrolling interests	(26,456)	(1,076)
Comprehensive income (loss) attributable to The Hershey Company	$ 143,522	$ 221,119

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 02, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 235,031	$ 296,967
Accounts receivable—trade, net	595,779	581,381
Inventories	795,404	745,678
Prepaid expenses and other	247,647	192,752
Total current assets	1,873,861	1,816,778
Property, plant and equipment, net	2,050,439	2,177,248
Goodwill	814,882	812,344
Other intangibles	381,716	492,737
Other assets	163,661	168,365
Deferred income taxes	57,826	56,861
Total assets	5,342,385	5,524,333
Current liabilities:
Accounts payable	499,149	522,536
Accrued liabilities	646,879	750,986
Accrued income taxes	77,244	3,207
Short-term debt	487,487	632,471
Current portion of long-term debt	158	243
Total current liabilities	1,710,917	1,909,443
Long-term debt	2,350,941	2,347,455
Other long-term liabilities	399,575	400,161
Deferred income taxes	35,499	39,587
Total liabilities	4,496,932	4,696,646
Stockholders’ equity:
Preferred stock, shares issued: none at April 2, 2017 and December 31, 2016	0	0
Additional paid-in capital	878,650	869,857
Retained earnings	6,112,471	6,115,961
Treasury—common stock shares, at cost: 147,150,754 at April 2, 2017 and 147,642,009 at December 31, 2016	(6,163,534)	(6,183,975)
Accumulated other comprehensive loss	(357,410)	(375,888)
Total—The Hershey Company stockholders’ equity	830,078	785,856
Noncontrolling interests in subsidiaries	15,375	41,831
Total stockholders’ equity	845,453	827,687
Total liabilities and stockholders’ equity	5,342,385	5,524,333
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. 02, 2017	Dec. 31, 2016
Preferred stock, shares issued (shares)	0	0
Treasury stock, shares (shares)	147,150,754	147,642,009
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. 02, 2017	Apr. 03, 2016
Net income (loss) including noncontrolling interest	$ 98,248	$ 229,832
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	64,952	59,913
Stock-based compensation expense	12,122	11,678
Deferred income taxes	(14,780)	(3,409)
Long-lived asset impairment charges	208,712	0
Write-down of equity investments	0	5,593
Settlement of SGM liability (see Note 2)	0	(26,650)
Other	11,512	3,059
Changes in assets and liabilities, net of business acquisitions:
Accounts receivable—trade, net	(14,398)	55,046
Inventories	(49,726)	(19,412)
Prepaid expenses and other current assets	(31,232)	(24,303)
Accounts payable and accrued liabilities	(124,664)	(103,480)
Accrued income taxes	76,779	83,553
Contributions to pension and other benefits plans	(11,576)	(8,839)
Other assets and liabilities	8,513	6,888
Net cash provided by operating activities	234,462	269,469
Investing Activities
Capital additions (including software)	(33,297)	(41,439)
Proceeds from sales of property, plant and equipment	561	1,934
Equity investments in tax credit qualifying partnerships	(7,948)	(9,672)
Net cash used in investing activities	(40,684)	(49,177)
Financing Activities
Net (decrease) increase in short-term debt	(146,604)	153,863
Repayment of long-term debt	(94)	0
Payment of SGM liability (see Note 2)	0	(35,762)
Cash dividends paid	(128,017)	(122,367)
Repurchase of common stock	0	(303,950)
Exercise of stock options	17,841	24,627
Net cash used in financing activities	(256,874)	(283,589)
Effect of exchange rate changes on cash and cash equivalents	1,160	2,726
Decrease in cash and cash equivalents	(61,936)	(60,571)
Cash and cash equivalents, beginning of period	296,967	346,529
Cash and cash equivalents, end of period	235,031	285,958
Supplemental Disclosure
Interest paid	33,732	27,786
Income taxes paid	$ 7,532	$ 29,574

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - 3 months ended Apr. 02, 2017 - 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 Income (Loss)	Noncontrolling Interests in Subsidiaries
Beginning balance, stockholders' equity at Dec. 31, 2016	$ 827,687			$ 0	$ 299,281	$ 60,620	$ 869,857	$ 6,115,961			$ (6,183,975)	$ (375,888)	$ 41,831
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to The Hershey Company	125,044							125,044
Net income (loss) attributable to noncontrolling interest	(26,796)												(26,796)
Net income (loss) including noncontrolling interest	98,248
Other comprehensive income (loss)	18,818											18,478	340
Dividends:
Common Stock		$ (94,466)	$ (34,068)						$ (94,466)	$ (34,068)
Stock-based compensation	11,393						11,393
Exercise of stock options and incentive-based transactions	(17,841)						(2,600)				(20,441)
Ending balance, stockholders' equity at Apr. 02, 2017	$ 845,453			$ 0	$ 299,281	$ 60,620	$ 878,650	$ 6,112,471			$ (6,163,534)	$ (357,410)	$ 15,375

CONSOLIDATED STATEMENTS OF STO8

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Common stock
Dividends paid per share (USD per share)	$ 0.618	$ 0.583
Class B common stock
Dividends paid per share (USD per share)	$ 0.562	$ 0.530

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Apr. 02, 2017
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. The financial statements reflect all adjustments which are, in our opinion, necessary for a fair presentation of the results of operations, financial position, and cash flows for the indicated periods. Operating results for the quarter ended April 2, 2017 may not be indicative of the results that may be expected for the year ending December 31, 2017 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, 2016 (our “ 2016 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 reclassified to conform to the current year presentation in the Consolidated Statements of Cash Flows. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers , which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers that supersedes most current revenue recognition guidance. This guidance requires an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also requires additional financial statement disclosures that will enable users to understand the nature, amount, timing and uncertainty of revenue and cash flows relating to customer contracts. 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. In 2017, we continued our assessment of the new standard with a focus on identifying the performance obligations included within our revenue arrangements with customers and evaluating our methods of estimating the amount and timing of variable consideration. Based on our assessment to date, we do not currently expect adoption of the new standard to have a material impact on our consolidated financial statements. We currently plan to adopt the requirements of the new standard in the first quarter of 2018 utilizing the cumulative effect transition method. We are continuing our assessment, which may identify other impacts. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). This ASU will require lessees 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 in the process of developing an inventory of our lease arrangements in order to determine the impact that the adoption of ASU 2016-02 will have on our consolidated financial statements and related disclosures. Based on our assessment to date, we expect adoption of this standard to result in a material increase in lease-related assets and liabilities on our Consolidated Balance Sheets; however, we do not expect it to have a significant impact on our Consolidated Statements of Income or Cash Flows. In March 2016, the FASB issued ASU No. 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting . We adopted the provisions of this ASU in the first quarter of 2017. This update principally affects the recognition of excess tax benefits and deficiencies and the cash flow classification of share-based compensation-related transactions. The requirement to recognize excess tax benefits and deficiencies as income tax expense or benefit in the income statement was applied prospectively, with a benefit of $1,938 recognized during the three months ended April 2, 2017. Additionally, within the Consolidated Statement of Cash Flows, the impact of the adoption resulted in a $7,886 increase in net cash flow from operating activities and a corresponding decrease in net cash flow from financing activities for the three months ended April 2, 2017. These classification requirements were adopted retrospectively to the Consolidated Statement of Cash Flows for the three months ended April 3, 2016, resulting in a $12,354 increase in net cash flow from operating activities and a corresponding $12,354 decrease in net cash flow from financing activities. 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

BUSINESS ACQUISITIONS	3 Months Ended
	Apr. 02, 2017
Business Combinations [Abstract]
Business Acquisitions	BUSINESS ACQUISITIONS 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 Acquisition 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. Our consolidated net sales for the year ended December 31, 2016 included approximately $35,600 attributed to barkTHINS . The purchase consideration was allocated to assets acquired and liabilities assumed based on their respective fair values as follows: Goodwill $ 128,110 Trademarks 91,200 Other intangible assets 60,900 Other assets, primarily current assets, net of cash acquired totaling $674 12,375 Current liabilities (7,211 ) Net assets acquired $ 285,374 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 barkTHINS products. Acquired trademarks were assigned estimated useful lives of 27 years , while other intangibles, including customer relationships and covenants not to compete, were assigned estimated useful lives ranging from 2 to 14 years. The recorded goodwill, trademarks and other intangibles are expected to be deductible for tax purposes. 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.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	3 Months Ended
	Apr. 02, 2017
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 2, 2017 are as follows: North America International and Other Total Balance at December 31, 2016 $ 792,190 $ 20,154 $ 812,344 Foreign currency translation 1,691 847 2,538 Balance at April 2, 2017 793,881 21,001 814,882 The following table provides the gross carrying amount and accumulated amortization for each major class of intangible asset: April 2, 2017 December 31, 2016 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Intangible assets subject to amortization: Trademarks $ 269,119 $ (27,580 ) $ 317,023 $ (30,458 ) Customer-related 126,219 (28,375 ) 200,409 (36,482 ) Patents 16,520 (14,209 ) 16,426 (13,700 ) Total 411,858 (70,164 ) 533,858 (80,640 ) Intangible assets not subject to amortization: Trademarks 40,022 39,519 Total other intangible assets $ 381,716 $ 492,737 As discussed in Note 7, in February 2017, we commenced the Margin for Growth Program which includes an initiative to optimize the manufacturing operations supporting our China business. We deemed this to be a triggering event requiring us to test our China long-lived asset group for impairment by first determining whether the carrying value of the asset group was recovered by our current estimates of future cash flows associated with the asset group. Because this assessment indicated that the carrying value was not recoverable, we calculated an impairment loss as the excess of the asset group's carrying value over its fair value. The resulting impairment loss was allocated to the asset group's long-lived assets. Therefore, as a result of this testing, during the three months ended April 2, 2017 we recorded an impairment charge totaling $105,992 representing the portion of the impairment loss that was allocated to the distributor relationship and trademark intangible assets that had been recognized in connection with the 2014 SGM acquisition. Total amortization expense for the three months ended April 2, 2017 and April 3, 2016 was $7,151 and $5,180 , respectively.

SHORT AND LONG-TERM DEBT

SHORT AND LONG-TERM DEBT	3 Months Ended
	Apr. 02, 2017
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. This agreement also includes an option to increase borrowings by an additional $400 million 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 2, 2017 , 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 2016 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 $140,065 at April 2, 2017 and $158,805 at December 31, 2016 . Commitment fees relating to our revolving credit facility and lines of credit are not material. At April 2, 2017 , we had outstanding commercial paper totaling $347,422 , at a weighted average interest rate of 0.8% . At December 31, 2016 , we had outstanding commercial paper totaling $473,666 , at a weighted average interest rate of 0.6% . Long-term Debt Long-term debt consisted of the following: December 31, April 2, 2017 December 31, 2016 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 2.30% Notes due 2026 500,000 500,000 7.2% Debentures due 2027 193,639 193,639 3.375% Notes due 2046 300,000 300,000 Lease obligations 83,985 83,619 Net impact of interest rate swaps, debt issuance costs and unamortized debt discounts (11,240 ) (14,275 ) Total long-term debt 2,351,099 2,347,698 Less—current portion 158 243 Long-term portion $ 2,350,941 $ 2,347,455 Interest Expense Net interest expense consisted of the following: Three Months Ended April 2, 2017 April 3, 2016 Interest expense $ 24,954 $ 23,525 Capitalized interest (984 ) (2,175 ) Interest expense 23,970 21,350 Interest income (229 ) (345 ) Interest expense, net $ 23,741 $ 21,005

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	3 Months Ended
	Apr. 02, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	DERIVATIVE INSTRUMENTS 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. Our open commodity derivative contracts had a notional value of $609,221 as of April 2, 2017 and $739,374 as of December 31, 2016 . Derivatives used to manage commodity price risk are not designated for hedge accounting treatment. Therefore, the changes in fair value of these derivatives are recorded as incurred within cost of sales. As discussed in Note 11, we define our segment income to exclude gains and losses on commodity derivatives until the related inventory is sold, at which time the related gains and losses are reflected within segment income. This enables us to continue to align 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, Japanese yen, and Brazilian real. We typically utilize foreign currency forward exchange contracts and options to hedge these exposures for periods ranging from 3 to 12 months . The contracts are either designated as cash flow hedges or are undesignated. The net notional amount of foreign exchange contracts accounted for as cash flow hedges was $111,589 at April 2, 2017 and $68,263 at December 31, 2016 . 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 2, 2017 and December 31, 2016 . 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 We 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. At April 2, 2017 and December 31, 2016 , we had interest rate derivative instruments in fair value hedging relationships with a total notional amount of $350,000 . In order to manage interest rate exposure, in previous years we utilized interest rate swap agreements to protect against unfavorable interest rate changes relating to forecasted debt transactions. These swaps, which were settled upon issuance of the related debt, were designated as cash flow hedges and the gains and losses that were deferred in other comprehensive income are being recognized as an adjustment to interest expense over the same period that the hedged interest payments affect earnings. Equity Price Risk We are exposed to market price changes in certain broad market indices related to our deferred compensation obligations to our employees. To mitigate this risk, we use equity swap contracts to hedge the portion of the exposure that is linked to market-level equity returns. These contracts are not designated as hedges for accounting purposes and are entered into for periods of 3 to 12 months . The change in fair value of these derivatives is recorded in selling, marketing and administrative expense, together with the change in the related liabilities. The notional amount of the contracts outstanding at April 2, 2017 and December 31, 2016 was $22,099 . The following table presents the classification of derivative assets and liabilities within the Consolidated Balance Sheets as of April 2, 2017 and December 31, 2016 : December 31, April 2, 2017 December 31, 2016 Assets (1) Liabilities (1) Assets (1) Liabilities (1) Derivatives designated as cash flow hedging instruments: Foreign exchange contracts $ 1,199 $ 1,271 $ 2,229 $ 809 Derivatives designated as fair value hedging instruments: Interest rate swap agreements 4,432 — 1,768 — Derivatives not designated as hedging instruments: Commodities futures and options (2) 562 3,887 2,348 10,000 Deferred compensation derivatives 1,277 — 717 — Foreign exchange contracts — 41 — 16 1,839 3,928 3,065 10,016 Total $ 7,470 $ 5,199 $ 7,062 $ 10,825 (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) As of April 2, 2017 , assets and liabilities include the net of assets of $61,140 and liabilities of $60,946 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, 2016 were assets of $140,885 and liabilities of $150,872 . At April 2, 2017 and December 31, 2016 , the remaining amount reflected in assets and liabilities relates to the fair value of other non-exchange traded derivative instruments, respectively. Income Statement Impact of Derivative Instruments The effect of derivative instruments on the Consolidated Statements of Income for the three months ended April 2, 2017 and April 3, 2016 was as follows: Non-designated Hedges Cash Flow Hedges Gains (losses) recognized in income (a) Losses recognized in other comprehensive income (“OCI”) (effective portion) Gains (losses) reclassified from accumulated OCI into income (effective portion) (b) 2017 2016 2017 2016 2017 2016 Commodities futures and options $ (5,536 ) $ (38,941 ) $ — $ — $ (438 ) $ 9,730 Foreign exchange contracts (95 ) (204 ) (1,499 ) (4,116 ) (172 ) (261 ) Interest rate swap agreements — — — (29,793 ) (2,423 ) (1,560 ) Deferred compensation derivatives 1,277 403 — — — — Total $ (4,354 ) $ (38,742 ) $ (1,499 ) $ (33,909 ) $ (3,033 ) $ 7,909 (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. The amount of pretax net losses 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 from AOCI into earnings in the next 12 months was approximately $9,730 as of April 2, 2017 . This amount is primarily associated with deferred losses relating to interest rate swap agreements. Fair Value Hedges For the three months ended April 2, 2017 and April 3, 2016 , we recognized a net pretax benefit to interest expense of $898 and $1,317 relating to our fixed-to-floating interest swap arrangements.

FAIR VALUE MEASUREMENTS FAIR VA

FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS	3 Months Ended
	Apr. 02, 2017
FAIR VALUE MEASUREMENTS [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS 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 Sheets on a recurring basis as of April 2, 2017 and December 31, 2016 : Assets (Liabilities) Level 1 Level 2 Level 3 Total April 2, 2017: Derivative Instruments: Assets: Foreign exchange contracts (1) $ — $ 1,199 $ — $ 1,199 Interest rate swap agreements (2) — 4,432 — 4,432 Deferred compensation derivatives (3) — 1,277 — 1,277 Commodities futures and options (4) 562 — — 562 Liabilities: Foreign exchange contracts (1) — 1,312 — 1,312 Commodities futures and options (4) 3,887 — — 3,887 December 31, 2016: Assets: Foreign exchange contracts (1) $ — $ 2,229 $ — $ 2,229 Interest rate swap agreements (2) — 1,768 — 1,768 Deferred compensation derivatives (3) — 717 — 717 Commodities futures and options (4) 2,348 — — 2,348 Liabilities: Foreign exchange contracts (1) — 825 — 825 Commodities futures and options (4) 10,000 — — 10,000 (1) 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. (2) 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. (3) The fair value of deferred compensation derivatives is based on quoted prices for market interest rates and a broad market equity index. (4) The fair value of commodities futures and options contracts is based on quoted market prices. Other Financial Instruments The carrying amounts of cash and cash equivalents, short-term investments, accounts receivable, accounts payable and short-term debt approximated fair values as of April 2, 2017 and April 3, 2016 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, were as follows: Fair Value Carrying Value April 2, 2017 December 31, 2016 April 2, 2017 December 31, 2016 Current portion of long-term debt $ 158 $ 243 $ 158 $ 243 Long-term debt 2,385,100 2,379,054 2,350,941 2,347,455 Total 2,385,258 $ 2,379,297 2,351,099 $ 2,347,698 Other Fair Value Measurements In addition to assets and liabilities that are recorded at fair value on a recurring basis, GAAP requires that, under certain circumstances, we also record assets and liabilities at fair value on a nonrecurring basis. Generally, assets are recorded at fair value on a nonrecurring basis as a result of impairment charges. During the three months ended April 2, 2017 , as discussed in Note 7, we recorded impairment charges totaling $105,992 to write-down distributor relationship and trademark intangible assets that had been recognized in connection with the 2014 SGM acquisition and wrote-down property, plant and equipment by $102,720 . These charges were determined by comparing the fair value of the assets to their carrying value. The fair value of the assets were derived using a combination of an estimated market liquidation approach and discounted cash flow analyses based on Level 3 inputs.

BUSINESS REALIGNMENT ACTIVITIES

BUSINESS REALIGNMENT ACTIVITIES	3 Months Ended
	Apr. 02, 2017
Restructuring and Related Activities [Abstract]
Business Realignment Activities	BUSINESS REALIGNMENT ACTIVITIES We are currently pursuing several business realignment activities designed to increase our efficiency and focus our business behind our key growth strategies. Costs recorded during the three months ended April 2, 2017 and April 3, 2016 related to these activities are as follows: Three Months Ended April 2, 2017 April 3, 2016 Margin for Growth Program: Severance $ 29,567 $ — Other program costs 4,822 — Operational Optimization Program: Severance 13,828 7,427 Other program costs (1,229 ) 5,545 2015 Productivity Initiative: Severance — (1,294 ) Other program costs — 2,752 Total business realignment costs $ 46,988 $ 14,430 The costs and related benefits to be derived from the Margin for Growth Program relate approximately 20% to the North America segment and 80% to the International and Other segment. The costs and related benefits to be derived from the Operational Optimization Program primarily relate to the North America segment in 2017 and to the International and Other segment in 2016. The costs and related benefits to be derived from the 2015 Productivity Initiative relate primarily to the North American segment. However, segment operating results do not include these business realignment expenses because we evaluate segment performance excluding such costs. Margin for Growth Program In February 2017, the Company's Board of Directors unanimously approved several initiatives under a single program designed to drive continued net sales, operating income and earnings per-share diluted growth over the next several years. This program will focus on improving global efficiency and effectiveness, optimizing the Company’s supply chain, streamlining the Company’s operating model and reducing administrative expenses to generate long-term savings. The Company estimates that the “Margin for Growth” program will result in total pre-tax charges of $375,000 to $425,000 over the next three years . This estimate includes plant and office closure expenses of $100,000 to $115,000 , net intangible asset impairment charges of $100,000 to $110,000 , employee separation costs of $80,000 to $100,000 , contract termination costs of approximately $25,000 , and other business realignment costs of $70,000 to $75,000 . The cash portion of the total charge is estimated to be $175,000 to $200,000 . At the conclusion of the program in 2019, ongoing annual savings are expected to be approximately $150,000 to $175,000 . The Company expects that implementation of the program will reduce its global workforce by approximately 15% , with a majority of the reductions coming from hourly headcount positions outside of the United States. The program includes an initiative to optimize the manufacturing operations supporting our China business. We deemed this to be a triggering event requiring us to test our China long-lived asset group for impairment by first determining whether the carrying value of the asset group was recovered by our current estimates of future cash flows associated with the asset group. Because this assessment indicated that the carrying value was not recoverable, we calculated an impairment loss as the excess of the asset group's carrying value over its fair value. The resulting impairment loss was allocated to the asset group's long-lived assets. Therefore, as a result of this testing, during the three months ended April 2, 2017 we recorded impairment charges totaling $208,712 , with $105,992 representing the portion of the impairment loss that was allocated to the distributor relationship and trademark intangible assets that had been recognized in connection with the 2014 SGM acquisition and $102,720 representing the portion of the impairment loss that was allocated to property, plant and equipment. These impairment charges are recorded within the long-lived asset impairment charges caption within the Consolidated Statements of Operations. During the three months ended April 2, 2017 , we also recognized estimated employee severance and related charges totaling $29,567 , relating largely to our initiative to improve the cost structure of our China business, as well as our initiative to further streamline our corporate operating model. 2016 Operational Optimization Program In the second quarter of 2016, we commenced a program (the “Operational Optimization Program”) to optimize our production and supply chain network, which includes select facility consolidations. The program encompasses the continued transition of our China chocolate and SGM operations into a united Golden Hershey platform, including the integration of the China sales force, as well as workforce planning efforts and the consolidation of production within certain facilities in China and North America. During the three months ended April 2, 2017 , we recognized costs of $12,599 primarily related to employee severance associated with the workforce planning efforts within North America. We currently expect to incur additional cash costs of approximately $8,000 over the next two years to complete this program. During the three months ended April 2, 2017, we reclassified property, plant and equipment and land use rights with a total book value of $20,303 to prepaid and other current assets within the Consolidated Balance Sheets. These represent select China facilities that were taken out of operation in connection with this program and are currently being marketed for sale. 2015 Productivity Initiative In mid-2015, we initiated a 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 was undertaken 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. The 2015 Productivity Initiative was completed during the third quarter 2016. We incurred total costs of $125,031 relating to this program, including pension settlement charges of $13,669 recorded in 2016 and $10,178 recorded in 2015 relating to lump sum withdrawals by employees retiring or leaving the Company as a result of this program. Costs associated with business realignment activities are classified in our Consolidated Statements of Income for the three months ended April 2, 2017 and April 3, 2016 as follows: Three Months Ended April 2, 2017 April 3, 2016 Cost of sales $ 490 $ (487 ) Selling, marketing and administrative expense 2,481 8,784 Business realignment costs 44,017 6,133 Costs associated with business realignment activities $ 46,988 $ 14,430 The following table presents the liability activity for employee-related costs qualifying as exit and disposal costs: Total Liability balance at December 31, 2016 $ 3,725 2017 business realignment charges (1) 45,913 Cash payments (3,287 ) Other, net (288 ) Liability balance at April 2, 2017 (reported within accrued and other long-term liabilities) $ 46,063 (1) The costs reflected in the liability roll-forward above do not include items charged directly to expense, such as accelerated depreciation and amortization 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.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Apr. 02, 2017
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 2, 2017 and April 3, 2016 were 41.6% and 32.3% , respectively. Relative to the statutory rate, the 2017 effective tax rate was impacted by non-benefited costs resulting from the Margin for Growth Program, partially offset by a favorable foreign rate differential relating to our cocoa procurement operations. The 2016 effective rate benefited from the impact of non-taxable income related to the settlement of the SGM liability. 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 $3,910 within the next 12 months because of the expiration of statutes of limitations and settlements of tax audits.

PENSION AND OTHER POST-RETIREME

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS	3 Months Ended
	Apr. 02, 2017
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 three months ended April 2, 2017 were as follows: Pension Benefits Other Benefits Three Months Ended Three Months Ended April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 Service cost $ 5,174 $ 5,884 $ 65 $ 74 Interest cost 10,299 10,835 2,208 2,436 Expected return on plan assets (14,354 ) (14,541 ) — — Amortization of prior service (credit) cost (1,456 ) (262 ) 187 144 Amortization of net loss (gain) 8,422 8,807 — (12 ) Total net periodic benefit cost $ 8,085 $ 10,723 $ 2,460 $ 2,642 We made contributions of $4,692 and $6,884 to the pension plans and other benefits plans, respectively, during the first quarter of 2017 . In the first quarter of 2016 , we made contributions of $1,175 and $7,664 to our pension plans and other benefits plans, respectively. The contributions in 2017 and 2016 also included benefit payments from our non-qualified pension plans and post-retirement benefit plans. For 2017 , there are no significant minimum funding requirements for our domestic pension plans and planned voluntary funding of our non-domestic pension plans in 2017 is not material.

STOCK COMPENSATION PLANS

STOCK COMPENSATION PLANS	3 Months Ended
	Apr. 02, 2017
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 2016 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 2, 2017 April 3, 2016 Pre-tax compensation expense $ 12,122 $ 11,678 Related income tax benefit 3,818 4,087 Compensation costs for stock compensation plans are primarily included in selling, marketing and administrative expense. As of April 2, 2017 , total stock-based compensation cost related to non-vested awards not yet recognized was $95,521 and the weighted-average period over which this amount is expected to be recognized was approximately 2.4 years . Stock Options A summary of activity relating to grants of stock options for the period ended April 2, 2017 is as follows: Stock Options Shares Weighted-Average Weighted-Average Remaining Aggregate Intrinsic Value Outstanding as of December 31, 2016 6,192,008 $ 82.67 6.2 years Granted 1,047,725 $ 108.06 Exercised (367,721 ) $ 66.68 Forfeited (112,089 ) $ 106.25 Outstanding as of April 2, 2017 6,759,923 $ 87.09 6.4 years $ 145,967 Options exercisable as of April 2, 2017 4,383,186 $ 79.45 5.0 years $ 128,066 The weighted-average fair value of options granted was $15.78 and $11.42 per share for the periods ended April 2, 2017 and April 3, 2016 , 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 2, 2017 April 3, 2016 Dividend yields 2.4 % 2.4 % Expected volatility 17.2 % 16.8 % Risk-free interest rates 2.2 % 1.5 % Expected term in years 6.8 6.8 The total intrinsic value of options exercised was $15,181 and $20,348 for the periods ended April 2, 2017 and April 3, 2016 , respectively. Performance Stock Units and Restricted Stock Units A summary of activity relating to grants of PSUs and RSUs for the period ended April 2, 2017 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 as of December 31, 2016 828,228 $102.66 Granted 351,793 $111.28 Performance assumption change 59,846 $95.80 Vested (175,088 ) $115.05 Forfeited (92,905 ) $109.85 Outstanding as of April 2, 2017 971,874 $101.84 The table above includes 6,410 units of PSUs awarded in a prior period for which the measurement (grant) date has occurred for accounting purposes in 2017. 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 2, 2017 April 3, 2016 Units granted 351,793 483,678 Weighted-average fair value at date of grant $ 111.28 $ 92.88 Monte Carlo simulation assumptions: Estimated values $ 46.85 $ 38.02 Dividend yields 2.3 % 2.5 % Expected volatility 20.4 % 17.0 % The fair value of shares vested totaled $18,883 and $16,181 for the periods ended April 2, 2017 and April 3, 2016 , respectively. Deferred PSUs, deferred RSUs and deferred stock units representing directors’ fees totaled 461,338 units as of April 2, 2017 . Each unit is equivalent to one share of the Company’s Common Stock.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Apr. 02, 2017
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION Our organizational structure is designed to ensure continued focus on North America, coupled with an emphasis on profitable growth in our focus international markets. Our business is organized around geographic regions, which enables us to build processes for repeatable success in our global markets. As a result, we have defined our operating segments on a geographic basis, as this aligns with how our Chief Operating Decision Maker (“CODM”) manages our business, including resource allocation and performance assessment. Our North America business, which generates approximately 89% of our consolidated revenue, is our only reportable segment. None of our other operating segments meet the quantitative thresholds to qualify as reportable segments; therefore, these operating segments are combined and disclosed below as International and Other. • 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 - International and Other is a combination of all other operating segments that are not individually material, including those geographic regions where we operate outside of North America. We currently have operations and manufacture product in China, Mexico, Brazil, India and Malaysia, primarily for consumers in these regions, 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, 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 components 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 2016 Annual Report on Form 10-K. 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 until the related inventory is sold, at which time the related gains and losses are reallocated to segment income. This enables us to align 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. 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 2, 2017 April 3, 2016 Net sales: North America $ 1,677,146 $ 1,633,471 International and Other 202,532 195,341 Total $ 1,879,678 $ 1,828,812 Segment income (loss): North America $ 553,138 $ 529,390 International and Other 1,723 (13,233 ) Total segment income 554,861 516,157 Unallocated corporate expense (1) 119,650 122,171 Unallocated mark-to-market (gains) losses on commodity derivatives (17,088 ) 34,946 Long-lived asset impairment charges 208,712 — Costs associated with business realignment activities 46,988 14,430 Non-service related pension expense 4,368 5,101 Acquisition and integration costs 300 — Operating profit 191,931 339,509 Interest expense, net 23,741 21,005 Other (income) expense, net (171 ) (21,225 ) Income before income taxes $ 168,361 $ 339,729 (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. Activity within the unallocated mark-to-market (gains) losses on commodity derivatives is as follows: Three Months Ended April 2, 2017 April 3, 2016 Net losses on mark-to-market valuation of unallocated commodity derivative positions $ 5,536 $ 38,941 Net losses on commodity derivative positions allocated to segment income 22,624 3,995 Net (gains) losses on mark-to-market valuation of commodity derivative positions remaining in unallocated derivative (gains) losses $ (17,088 ) $ 34,946 As of April 2, 2017 , the cumulative amount of mark-to-market losses on commodity derivatives that had been recognized in our consolidated cost of sales and not yet allocated to reportable segments was $145,937 . Based on our forecasts of the timing of the recognition of the underlying hedged items, we expect to reclassify net pre-tax losses on commodity derivatives of $88,675 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 2, 2017 April 3, 2016 North America $ 41,237 $ 38,942 International and Other 12,966 10,923 Corporate 10,749 10,048 Total $ 64,952 $ 59,913

TREASURY STOCK ACTIVITY (Notes)

TREASURY STOCK ACTIVITY (Notes)	3 Months Ended
	Apr. 02, 2017
Equity [Abstract]
Treasury Stock Activity	A summary of our treasury stock activity is as follows: Three Months Ended April 2, 2017 Shares Dollars In thousands Shares issued for stock options and incentive compensation 491,255 $ 20,441 There were no purchases of our Common Stock during the three months ended April 2, 2017 . In January 2016, our Board of Directors approved a $500,000 authorization to repurchase shares of our Common Stock. As of April 2, 2017 , $100,000 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.

NONCONTROLLING INTEREST NONCONT

NONCONTROLLING INTEREST NONCONTROLLING INTEREST (Notes)	3 Months Ended
	Apr. 02, 2017
Noncontrolling Interest [Abstract]
Noncontrolling Interest	NONCONTROLLING INTEREST We currently own a 50% controlling interest in Lotte Shanghai Foods Co., Ltd. (“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 2017 activity relating to the noncontrolling interest follows: Noncontrolling Interests Balance, December 31, 2016 $ 41,831 Net loss attributable to noncontrolling interests (26,796 ) Other comprehensive income - foreign currency translation adjustments 340 Balance, April 2, 2017 $ 15,375 The 2017 net loss attributable to the noncontrolling interest reflects the 50% allocation of LSFC-related business realignment and impairment costs (see Note 7). For the three months ended April 3, 2016 , the net loss attributable to noncontrolling interests totaled $475 , which was presented within selling, marketing and administrative expense in the Consolidated Statements of Income since the amount not considered significant.

CONTINGENCIES

CONTINGENCIES	3 Months Ended
	Apr. 02, 2017
Commitments and Contingencies Disclosure [Abstract]
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. 02, 2017
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 2, 2017 April 3, 2016 Common Stock Class B Common Stock Common Stock Class B Common Stock Basic earnings per share: Numerator: Allocation of distributed earnings (cash dividends paid) $ 93,949 $ 34,068 $ 90,238 $ 32,129 Allocation of undistributed (losses) earnings (2,183 ) (790 ) 79,376 28,089 Total earnings—basic $ 91,766 $ 33,278 $ 169,614 $ 60,218 Denominator (shares in thousands): Total weighted-average shares—basic 152,313 60,620 155,675 60,620 Earnings Per Share—basic $ 0.60 $ 0.55 $ 1.09 $ 0.99 Diluted earnings per share: Numerator: Allocation of total earnings used in basic computation $ 91,766 $ 33,278 $ 169,614 $ 60,218 Reallocation of total earnings as a result of conversion of Class B common stock to Common stock 33,278 — 60,218 — Reallocation of undistributed earnings — (25 ) — (158 ) Total earnings—diluted $ 125,044 $ 33,253 $ 229,832 $ 60,060 Denominator (shares in thousands): Number of shares used in basic computation 152,313 60,620 155,675 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 1,265 — 1,005 — Performance and restricted stock options 324 — 187 — Total weighted-average shares—diluted 214,522 60,620 217,487 60,620 Earnings Per Share—diluted $ 0.58 $ 0.55 $ 1.06 $ 0.99 The earnings per share calculations for the three months ended April 2, 2017 and April 3, 2016 excluded 2,067 and 3,680 , respectively, of stock options (in thousands) that would have been antidilutive.

OTHER (INCOME) EXPENSE, NET OTH

OTHER (INCOME) EXPENSE, NET OTHER (INCOME) EXPENSE, NET	3 Months Ended
	Apr. 02, 2017
Other Income and Expenses [Abstract]
Other (Income) Expense, Net	OTHER (INCOME) EXPENSE, NET Other (income) expense, net reports certain gains and losses associated with activities not directly related to our core operations. A summary of the components of other (income) expense, net is as follows: Three Months Ended April 2, 2017 April 3, 2016 Write-down of equity investments in partnerships qualifying for tax credits $ — $ 5,593 Settlement of SGM liability (see Note 2) — (26,650 ) Other (income) expense, net (171 ) (168 ) Total $ (171 ) $ (21,225 )

SUPPLEMENTAL BALANCE SHEET INFO

SUPPLEMENTAL BALANCE SHEET INFORMATION	3 Months Ended
	Apr. 02, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplemental Balance Sheet Information	SUPPLEMENTAL BALANCE SHEET INFORMATION The components of certain Consolidated Balance Sheet accounts are as follows: April 2, 2017 December 31, 2016 Inventories: Raw materials $ 299,484 $ 315,239 Goods in process 115,315 88,490 Finished goods 562,440 528,587 Inventories at FIFO 977,239 932,316 Adjustment to LIFO (181,835 ) (186,638 ) Total inventories $ 795,404 $ 745,678 Property, plant and equipment: Land $ 104,400 $ 103,865 Buildings 1,180,501 1,238,634 Machinery and equipment 2,948,697 3,001,552 Construction in progress 206,391 230,987 Property, plant and equipment, gross 4,439,989 4,575,038 Accumulated depreciation (2,389,550 ) (2,397,790 ) Property, plant and equipment, net $ 2,050,439 $ 2,177,248 Other assets: Capitalized software, net $ 95,737 $ 95,301 Income tax receivable 1,458 1,449 Other non-current assets 66,466 71,615 Total other assets $ 163,661 $ 168,365 Accrued liabilities: Payroll, compensation and benefits $ 176,704 $ 240,080 Advertising and promotion 320,999 358,573 Other 149,176 152,333 Total accrued liabilities $ 646,879 $ 750,986 Other long-term liabilities: Post-retirement benefits liabilities $ 218,517 $ 220,270 Pension benefits liabilities 61,346 65,687 Other 119,712 114,204 Total other long-term liabilities $ 399,575 $ 400,161 Accumulated other comprehensive loss: Foreign currency translation adjustments $ (97,002 ) $ (110,613 ) Pension and post-retirement benefit plans, net of tax (202,849 ) (207,169 ) Cash flow hedges, net of tax (57,559 ) (58,106 ) Total accumulated other comprehensive loss $ (357,410 ) $ (375,888 )

SUMMARY OF SIGNIFICANT ACCOUN26

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Apr. 02, 2017
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. The financial statements reflect all adjustments which are, in our opinion, necessary for a fair presentation of the results of operations, financial position, and cash flows for the indicated periods. Operating results for the quarter ended April 2, 2017 may not be indicative of the results that may be expected for the year ending December 31, 2017 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, 2016 (our “ 2016 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 reclassified to conform to the current year presentation in the Consolidated Statements of Cash Flows.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers , which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers that supersedes most current revenue recognition guidance. This guidance requires an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also requires additional financial statement disclosures that will enable users to understand the nature, amount, timing and uncertainty of revenue and cash flows relating to customer contracts. 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. In 2017, we continued our assessment of the new standard with a focus on identifying the performance obligations included within our revenue arrangements with customers and evaluating our methods of estimating the amount and timing of variable consideration. Based on our assessment to date, we do not currently expect adoption of the new standard to have a material impact on our consolidated financial statements. We currently plan to adopt the requirements of the new standard in the first quarter of 2018 utilizing the cumulative effect transition method. We are continuing our assessment, which may identify other impacts. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). This ASU will require lessees 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 in the process of developing an inventory of our lease arrangements in order to determine the impact that the adoption of ASU 2016-02 will have on our consolidated financial statements and related disclosures. Based on our assessment to date, we expect adoption of this standard to result in a material increase in lease-related assets and liabilities on our Consolidated Balance Sheets; however, we do not expect it to have a significant impact on our Consolidated Statements of Income or Cash Flows. In March 2016, the FASB issued ASU No. 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting . We adopted the provisions of this ASU in the first quarter of 2017. This update principally affects the recognition of excess tax benefits and deficiencies and the cash flow classification of share-based compensation-related transactions. The requirement to recognize excess tax benefits and deficiencies as income tax expense or benefit in the income statement was applied prospectively, with a benefit of $1,938 recognized during the three months ended April 2, 2017. Additionally, within the Consolidated Statement of Cash Flows, the impact of the adoption resulted in a $7,886 increase in net cash flow from operating activities and a corresponding decrease in net cash flow from financing activities for the three months ended April 2, 2017. These classification requirements were adopted retrospectively to the Consolidated Statement of Cash Flows for the three months ended April 3, 2016, resulting in a $12,354 increase in net cash flow from operating activities and a corresponding $12,354 decrease in net cash flow from financing activities. 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 (Tables)

BUSINESS ACQUISITIONS (Tables)	3 Months Ended
	Apr. 02, 2017
Ripple Brand Collective, LLC [Member]
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 $ 128,110 Trademarks 91,200 Other intangible assets 60,900 Other assets, primarily current assets, net of cash acquired totaling $674 12,375 Current liabilities (7,211 ) Net assets acquired $ 285,374

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	3 Months Ended
	Apr. 02, 2017
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 2, 2017 are as follows: North America International and Other Total Balance at December 31, 2016 $ 792,190 $ 20,154 $ 812,344 Foreign currency translation 1,691 847 2,538 Balance at April 2, 2017 793,881 21,001 814,882
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 2, 2017 December 31, 2016 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Intangible assets subject to amortization: Trademarks $ 269,119 $ (27,580 ) $ 317,023 $ (30,458 ) Customer-related 126,219 (28,375 ) 200,409 (36,482 ) Patents 16,520 (14,209 ) 16,426 (13,700 ) Total 411,858 (70,164 ) 533,858 (80,640 ) Intangible assets not subject to amortization: Trademarks 40,022 39,519 Total other intangible assets $ 381,716 $ 492,737

SHORT AND LONG-TERM DEBT (Table

SHORT AND LONG-TERM DEBT (Tables)	3 Months Ended
	Apr. 02, 2017
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt consisted of the following: December 31, April 2, 2017 December 31, 2016 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 2.30% Notes due 2026 500,000 500,000 7.2% Debentures due 2027 193,639 193,639 3.375% Notes due 2046 300,000 300,000 Lease obligations 83,985 83,619 Net impact of interest rate swaps, debt issuance costs and unamortized debt discounts (11,240 ) (14,275 ) Total long-term debt 2,351,099 2,347,698 Less—current portion 158 243 Long-term portion $ 2,350,941 $ 2,347,455
Schedule Of Net Interest Expense	Net interest expense consisted of the following: Three Months Ended April 2, 2017 April 3, 2016 Interest expense $ 24,954 $ 23,525 Capitalized interest (984 ) (2,175 ) Interest expense 23,970 21,350 Interest income (229 ) (345 ) Interest expense, net $ 23,741 $ 21,005

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	3 Months Ended
	Apr. 02, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table presents the classification of derivative assets and liabilities within the Consolidated Balance Sheets as of April 2, 2017 and December 31, 2016 : December 31, April 2, 2017 December 31, 2016 Assets (1) Liabilities (1) Assets (1) Liabilities (1) Derivatives designated as cash flow hedging instruments: Foreign exchange contracts $ 1,199 $ 1,271 $ 2,229 $ 809 Derivatives designated as fair value hedging instruments: Interest rate swap agreements 4,432 — 1,768 — Derivatives not designated as hedging instruments: Commodities futures and options (2) 562 3,887 2,348 10,000 Deferred compensation derivatives 1,277 — 717 — Foreign exchange contracts — 41 — 16 1,839 3,928 3,065 10,016 Total $ 7,470 $ 5,199 $ 7,062 $ 10,825 (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) As of April 2, 2017 , assets and liabilities include the net of assets of $61,140 and liabilities of $60,946 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, 2016 were assets of $140,885 and liabilities of $150,872 . At April 2, 2017 and December 31, 2016 , the remaining amount reflected in assets and liabilities relates to the fair value of other non-exchange traded derivative instruments, respectively.
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 2, 2017 and April 3, 2016 was as follows: Non-designated Hedges Cash Flow Hedges Gains (losses) recognized in income (a) Losses recognized in other comprehensive income (“OCI”) (effective portion) Gains (losses) reclassified from accumulated OCI into income (effective portion) (b) 2017 2016 2017 2016 2017 2016 Commodities futures and options $ (5,536 ) $ (38,941 ) $ — $ — $ (438 ) $ 9,730 Foreign exchange contracts (95 ) (204 ) (1,499 ) (4,116 ) (172 ) (261 ) Interest rate swap agreements — — — (29,793 ) (2,423 ) (1,560 ) Deferred compensation derivatives 1,277 403 — — — — Total $ (4,354 ) $ (38,742 ) $ (1,499 ) $ (33,909 ) $ (3,033 ) $ 7,909 (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.

FAIR VALUE MEASUREMENTS FAIR 31

FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Apr. 02, 2017
FAIR VALUE MEASUREMENTS [Abstract]
Fair Value Measurements, Nonrecurring [Table Text Block]	The following table presents assets and liabilities that were measured at fair value in the Consolidated Balance Sheets on a recurring basis as of April 2, 2017 and December 31, 2016 : Assets (Liabilities) Level 1 Level 2 Level 3 Total April 2, 2017: Derivative Instruments: Assets: Foreign exchange contracts (1) $ — $ 1,199 $ — $ 1,199 Interest rate swap agreements (2) — 4,432 — 4,432 Deferred compensation derivatives (3) — 1,277 — 1,277 Commodities futures and options (4) 562 — — 562 Liabilities: Foreign exchange contracts (1) — 1,312 — 1,312 Commodities futures and options (4) 3,887 — — 3,887 December 31, 2016: Assets: Foreign exchange contracts (1) $ — $ 2,229 $ — $ 2,229 Interest rate swap agreements (2) — 1,768 — 1,768 Deferred compensation derivatives (3) — 717 — 717 Commodities futures and options (4) 2,348 — — 2,348 Liabilities: Foreign exchange contracts (1) — 825 — 825 Commodities futures and options (4) 10,000 — — 10,000 (1) 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. (2) 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. (3) The fair value of deferred compensation derivatives is based on quoted prices for market interest rates and a broad market equity index. (4) The fair value of commodities futures and options contracts is based on quoted market prices.
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	The fair values and carrying values of long-term debt, including the current portion, were as follows: Fair Value Carrying Value April 2, 2017 December 31, 2016 April 2, 2017 December 31, 2016 Current portion of long-term debt $ 158 $ 243 $ 158 $ 243 Long-term debt 2,385,100 2,379,054 2,350,941 2,347,455 Total 2,385,258 $ 2,379,297 2,351,099 $ 2,347,698

BUSINESS REALIGNMENT ACTIVITI32

BUSINESS REALIGNMENT ACTIVITIES (Tables)	3 Months Ended
	Apr. 02, 2017
Restructuring and Related Activities [Abstract]
Summary of Business Realignment And Impairment Charges	Costs associated with business realignment activities are classified in our Consolidated Statements of Income for the three months ended April 2, 2017 and April 3, 2016 as follows: Three Months Ended April 2, 2017 April 3, 2016 Cost of sales $ 490 $ (487 ) Selling, marketing and administrative expense 2,481 8,784 Business realignment costs 44,017 6,133 Costs associated with business realignment activities $ 46,988 $ 14,430 Costs recorded during the three months ended April 2, 2017 and April 3, 2016 related to these activities are as follows: Three Months Ended April 2, 2017 April 3, 2016 Margin for Growth Program: Severance $ 29,567 $ — Other program costs 4,822 — Operational Optimization Program: Severance 13,828 7,427 Other program costs (1,229 ) 5,545 2015 Productivity Initiative: Severance — (1,294 ) Other program costs — 2,752 Total business realignment costs $ 46,988 $ 14,430
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, 2016 $ 3,725 2017 business realignment charges (1) 45,913 Cash payments (3,287 ) Other, net (288 ) Liability balance at April 2, 2017 (reported within accrued and other long-term liabilities) $ 46,063

PENSION AND OTHER POST-RETIRE33

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS (Tables)	3 Months Ended
	Apr. 02, 2017
Compensation and Retirement Disclosure [Abstract]
Summary of Components of Net Periodic Benefit Cost	The components of net periodic benefit cost for the three months ended April 2, 2017 were as follows: Pension Benefits Other Benefits Three Months Ended Three Months Ended April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 Service cost $ 5,174 $ 5,884 $ 65 $ 74 Interest cost 10,299 10,835 2,208 2,436 Expected return on plan assets (14,354 ) (14,541 ) — — Amortization of prior service (credit) cost (1,456 ) (262 ) 187 144 Amortization of net loss (gain) 8,422 8,807 — (12 ) Total net periodic benefit cost $ 8,085 $ 10,723 $ 2,460 $ 2,642

STOCK COMPENSATION PLANS (Table

STOCK COMPENSATION PLANS (Tables)	3 Months Ended
	Apr. 02, 2017
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 2, 2017 April 3, 2016 Pre-tax compensation expense $ 12,122 $ 11,678 Related income tax benefit 3,818 4,087
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 2, 2017 is as follows: Stock Options Shares Weighted-Average Weighted-Average Remaining Aggregate Intrinsic Value Outstanding as of December 31, 2016 6,192,008 $ 82.67 6.2 years Granted 1,047,725 $ 108.06 Exercised (367,721 ) $ 66.68 Forfeited (112,089 ) $ 106.25 Outstanding as of April 2, 2017 6,759,923 $ 87.09 6.4 years $ 145,967 Options exercisable as of April 2, 2017 4,383,186 $ 79.45 5.0 years $ 128,066
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 2, 2017 April 3, 2016 Dividend yields 2.4 % 2.4 % Expected volatility 17.2 % 16.8 % Risk-free interest rates 2.2 % 1.5 % Expected term in years 6.8 6.8
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 2, 2017 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 as of December 31, 2016 828,228 $102.66 Granted 351,793 $111.28 Performance assumption change 59,846 $95.80 Vested (175,088 ) $115.05 Forfeited (92,905 ) $109.85 Outstanding as of April 2, 2017 971,874 $101.84
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 2, 2017 April 3, 2016 Units granted 351,793 483,678 Weighted-average fair value at date of grant $ 111.28 $ 92.88 Monte Carlo simulation assumptions: Estimated values $ 46.85 $ 38.02 Dividend yields 2.3 % 2.5 % Expected volatility 20.4 % 17.0 %

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Apr. 02, 2017
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 2, 2017 April 3, 2016 Net sales: North America $ 1,677,146 $ 1,633,471 International and Other 202,532 195,341 Total $ 1,879,678 $ 1,828,812 Segment income (loss): North America $ 553,138 $ 529,390 International and Other 1,723 (13,233 ) Total segment income 554,861 516,157 Unallocated corporate expense (1) 119,650 122,171 Unallocated mark-to-market (gains) losses on commodity derivatives (17,088 ) 34,946 Long-lived asset impairment charges 208,712 — Costs associated with business realignment activities 46,988 14,430 Non-service related pension expense 4,368 5,101 Acquisition and integration costs 300 — Operating profit 191,931 339,509 Interest expense, net 23,741 21,005 Other (income) expense, net (171 ) (21,225 ) Income before income taxes $ 168,361 $ 339,729 (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.
Allocation Of Net Derivative Gains Losses From Economic Hedges To Operating Results Of Reporting Segments Table [Table Text Block]	Activity within the unallocated mark-to-market (gains) losses on commodity derivatives is as follows: Three Months Ended April 2, 2017 April 3, 2016 Net losses on mark-to-market valuation of unallocated commodity derivative positions $ 5,536 $ 38,941 Net losses on commodity derivative positions allocated to segment income 22,624 3,995 Net (gains) losses on mark-to-market valuation of commodity derivative positions remaining in unallocated derivative (gains) losses $ (17,088 ) $ 34,946
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block]	Depreciation and amortization expense included within segment income presented above is as follows: Three Months Ended April 2, 2017 April 3, 2016 North America $ 41,237 $ 38,942 International and Other 12,966 10,923 Corporate 10,749 10,048 Total $ 64,952 $ 59,913

TREASURY STOCK ACTIVITY (Tables

TREASURY STOCK ACTIVITY (Tables)	3 Months Ended
	Apr. 02, 2017
Equity [Abstract]
Summary of Treasury Stock Activity	A summary of our treasury stock activity is as follows: Three Months Ended April 2, 2017 Shares Dollars In thousands Shares issued for stock options and incentive compensation 491,255 $ 20,441

NONCONTROLLING INTEREST NONCO37

NONCONTROLLING INTEREST NONCONTROLLING INTEREST (Tables)	3 Months Ended
	Apr. 02, 2017
Noncontrolling Interest [Line Items]
Schedule of Stockholders Equity [Table Text Block]	A roll-forward showing the 2017 activity relating to the noncontrolling interest follows: Noncontrolling Interests Balance, December 31, 2016 $ 41,831 Net loss attributable to noncontrolling interests (26,796 ) Other comprehensive income - foreign currency translation adjustments 340 Balance, April 2, 2017 $ 15,375

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Apr. 02, 2017
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 2, 2017 April 3, 2016 Common Stock Class B Common Stock Common Stock Class B Common Stock Basic earnings per share: Numerator: Allocation of distributed earnings (cash dividends paid) $ 93,949 $ 34,068 $ 90,238 $ 32,129 Allocation of undistributed (losses) earnings (2,183 ) (790 ) 79,376 28,089 Total earnings—basic $ 91,766 $ 33,278 $ 169,614 $ 60,218 Denominator (shares in thousands): Total weighted-average shares—basic 152,313 60,620 155,675 60,620 Earnings Per Share—basic $ 0.60 $ 0.55 $ 1.09 $ 0.99 Diluted earnings per share: Numerator: Allocation of total earnings used in basic computation $ 91,766 $ 33,278 $ 169,614 $ 60,218 Reallocation of total earnings as a result of conversion of Class B common stock to Common stock 33,278 — 60,218 — Reallocation of undistributed earnings — (25 ) — (158 ) Total earnings—diluted $ 125,044 $ 33,253 $ 229,832 $ 60,060 Denominator (shares in thousands): Number of shares used in basic computation 152,313 60,620 155,675 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 1,265 — 1,005 — Performance and restricted stock options 324 — 187 — Total weighted-average shares—diluted 214,522 60,620 217,487 60,620 Earnings Per Share—diluted $ 0.58 $ 0.55 $ 1.06 $ 0.99

OTHER (INCOME) EXPENSE, NET O39

OTHER (INCOME) EXPENSE, NET OTHER (INCOME) EXPENSE, NET (Tables)	3 Months Ended
	Apr. 02, 2017
Other Income and Expenses [Abstract]
Other Income and Other Expense Disclosure [Text Block]	Other (income) expense, net reports certain gains and losses associated with activities not directly related to our core operations. A summary of the components of other (income) expense, net is as follows: Three Months Ended April 2, 2017 April 3, 2016 Write-down of equity investments in partnerships qualifying for tax credits $ — $ 5,593 Settlement of SGM liability (see Note 2) — (26,650 ) Other (income) expense, net (171 ) (168 ) Total $ (171 ) $ (21,225 )

SUPPLEMENTAL BALANCE SHEET IN40

SUPPLEMENTAL BALANCE SHEET INFORMATION (Tables)	3 Months Ended
	Apr. 02, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Supplemental Balance Sheet Information	The components of certain Consolidated Balance Sheet accounts are as follows: April 2, 2017 December 31, 2016 Inventories: Raw materials $ 299,484 $ 315,239 Goods in process 115,315 88,490 Finished goods 562,440 528,587 Inventories at FIFO 977,239 932,316 Adjustment to LIFO (181,835 ) (186,638 ) Total inventories $ 795,404 $ 745,678 Property, plant and equipment: Land $ 104,400 $ 103,865 Buildings 1,180,501 1,238,634 Machinery and equipment 2,948,697 3,001,552 Construction in progress 206,391 230,987 Property, plant and equipment, gross 4,439,989 4,575,038 Accumulated depreciation (2,389,550 ) (2,397,790 ) Property, plant and equipment, net $ 2,050,439 $ 2,177,248 Other assets: Capitalized software, net $ 95,737 $ 95,301 Income tax receivable 1,458 1,449 Other non-current assets 66,466 71,615 Total other assets $ 163,661 $ 168,365 Accrued liabilities: Payroll, compensation and benefits $ 176,704 $ 240,080 Advertising and promotion 320,999 358,573 Other 149,176 152,333 Total accrued liabilities $ 646,879 $ 750,986 Other long-term liabilities: Post-retirement benefits liabilities $ 218,517 $ 220,270 Pension benefits liabilities 61,346 65,687 Other 119,712 114,204 Total other long-term liabilities $ 399,575 $ 400,161 Accumulated other comprehensive loss: Foreign currency translation adjustments $ (97,002 ) $ (110,613 ) Pension and post-retirement benefit plans, net of tax (202,849 ) (207,169 ) Cash flow hedges, net of tax (57,559 ) (58,106 ) Total accumulated other comprehensive loss $ (357,410 ) $ (375,888 )

SUMMARY OF SIGNIFICANT ACCOUN41

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase in net cash flow from operating activities	$ 234,462	$ 269,469
Decrease in net cash flow from financing activities	256,874	283,589
ASU 2016-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effective Income Tax Rate Reconciliation, Share-based Compensation, Excess Tax Benefit, Amount	1,938
Increase in net cash flow from operating activities	7,886	12,354
Decrease in net cash flow from financing activities	$ 7,886	$ 12,354

BUSINESS ACQUISITIONS - RIPPLE

BUSINESS ACQUISITIONS - RIPPLE BRAND COLLECTIVE, LLC NARRATIVE (Details) - Ripple Brand Collective, LLC [Member] - USD ($) $ in Thousands	Apr. 26, 2016	Dec. 31, 2016
Business Acquisition [Line Items]
Revenues		$ 35,600
Trademarks
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life	27 years
Other | Minimum
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life	2 years
Other | Maximum
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life	14 years

BUSINESS ACQUISITIONS - RIPPL43

BUSINESS ACQUISITIONS - RIPPLE BRAND COLLECTIVE, LLC ASSETS ACQUIRED AND LIABILITIES ASSUMED ALLOCATION (Details) - USD ($) $ in Thousands	Apr. 02, 2017	Dec. 31, 2016	Apr. 26, 2016
Business Acquisition [Line Items]
Goodwill	$ 814,882	$ 812,344
Ripple Brand Collective, LLC [Member]
Business Acquisition [Line Items]
Goodwill			$ 128,110
Other current assets			12,375
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents			674
Current liabilities			(7,211)
Net assets acquired			285,374
Trademarks | Ripple Brand Collective, LLC [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles			91,200
Other | Ripple Brand Collective, LLC [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles			$ 60,900

BUSINESS ACQUISITIONS - SHANGHA

BUSINESS ACQUISITIONS - SHANGHAI GOLDEN MONKEY NARRATIVE (Details) - USD ($) $ in Thousands	Feb. 03, 2016	Apr. 02, 2017	Apr. 03, 2016	Dec. 31, 2014
Business Acquisition [Line Items]
Payments to acquire businesses		$ 0	$ 35,762
Settlement of SGM liability (see Note 2)		0	26,650
Shanghai Golden Monkey Food Joint Stock Co., Ltd.
Business Acquisition [Line Items]
Business acquisition, percentage of voting interests acquired	20.00%			100.00%
Payments to acquire businesses	$ 35,762
Settlement of SGM liability (see Note 2)	$ 26,650	$ 0	$ 26,650

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. 02, 2017USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 812,344
Accumulated impairment loss	2,538
Goodwill, ending balance	814,882
Operating Segments | North America
Goodwill [Roll Forward]
Goodwill, beginning balance	792,190
Accumulated impairment loss	1,691
Goodwill, ending balance	793,881
Operating Segments | International and Other
Goodwill [Roll Forward]
Goodwill, beginning balance	20,154
Accumulated impairment loss	847
Goodwill, ending balance	$ 21,001

GOODWILL AND INTANGIBLE ASSET46

GOODWILL AND INTANGIBLE ASSETS - CARRYING AMOUNTS AND ACCUMULATED AMORTIZATION (Details) - USD ($) $ in Thousands	Apr. 02, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 411,858	$ 533,858
Finite-lived intangible assets, accumulated amortization	(70,164)	(80,640)
Total other intangible assets	381,716	492,737
Trademarks
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets, excluding goodwill	40,022	39,519
Trademarks
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	269,119	317,023
Finite-lived intangible assets, accumulated amortization	(27,580)	(30,458)
Customer-related
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	126,219	200,409
Finite-lived intangible assets, accumulated amortization	(28,375)	(36,482)
Patents
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	16,520	16,426
Finite-lived intangible assets, accumulated amortization	$ (14,209)	$ (13,700)

GOODWILL AND INTANGIBLE ASSET47

GOODWILL AND INTANGIBLE ASSETS - NARRATIVE (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Goodwill [Line Items]
Amortization expense	$ 7,151	$ 5,180
Margin for growth program
Goodwill [Line Items]
Intangible asset impairment charges	$ 105,992

SHORT AND LONG-TERM DEBT - SHOR

SHORT AND LONG-TERM DEBT - SHORT-TERM DEBT (Details) - USD ($)	Apr. 02, 2017	Dec. 31, 2016
Line of Credit Facility [Line Items]
Short-term debt	$ 487,487,000	$ 632,471,000
Commercial Paper
Line of Credit Facility [Line Items]
Short-term debt	$ 347,422,000	$ 473,666,000
Short-term debt, weighted average interest rate	0.80%	0.60%
Revolving Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
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	140,065,000	$ 158,805,000
Line of Credit | Revolving Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 1,000,000,000

SHORT AND LONG-TERM DEBT - SUMM

SHORT AND LONG-TERM DEBT - SUMMARY OF LONG TERM DEBT (Details) - USD ($) $ in Thousands	Apr. 02, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Total long-term debt	$ 2,351,099	$ 2,347,698
Net impact of interest rate swaps, debt issuance costs and unamortized debt discounts	(11,240)	(14,275)
Less—current portion	158	243
Long-term portion	2,350,941	2,347,455
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 | Notes 2.30% due 2026
Debt Instrument [Line Items]
Total long-term debt	500,000	500,000
Corporate Debt Securities | 7.2% Debentures due 2027
Debt Instrument [Line Items]
Total long-term debt	193,639	193,639
Corporate Debt Securities | Notes 3.375% due 2046
Debt Instrument [Line Items]
Total long-term debt	300,000	300,000
Lease Obligations
Debt Instrument [Line Items]
Total long-term debt	$ 83,985	$ 83,619

SHORT AND LONG-TERM DEBT - LONG

SHORT AND LONG-TERM DEBT - LONG TERM DEBT INTEREST RATES (Details) - Corporate Debt Securities	Apr. 02, 2017	Dec. 31, 2016
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%
Notes 2.30% due 2026
Debt Instrument [Line Items]
Interest rate, stated percentage	2.30%	2.30%
7.2% Debentures due 2027
Debt Instrument [Line Items]
Interest rate, stated percentage	7.20%	7.20%
Notes 3.375% due 2046
Debt Instrument [Line Items]
Interest rate, stated percentage	3.375%	3.375%

SHORT AND LONG-TERM DEBT - INTE

SHORT AND LONG-TERM DEBT - INTEREST EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Debt Disclosure [Abstract]
Interest expense	$ 24,954	$ 23,525
Interest Costs Capitalized Adjustment	984	2,175
Interest expense	23,970	21,350
Interest income	(229)	(345)
Interest expense, net	$ 23,741	$ 21,005

DERIVATIVE INSTRUMENTS - NARRAT

DERIVATIVE INSTRUMENTS - NARRATIVE (Details) - USD ($)	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016	Dec. 31, 2016
Derivative [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	$ 9,730,000
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
Commodities futures and options | Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Derivative, notional amount	$ 609,221		$ 739,374
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	12 months
Foreign exchange contracts | Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Derivative, notional amount	$ 111,589,000		68,263,000
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 | Fair Value Hedging
Derivative [Line Items]
Derivative, notional amount	350,000,000		$ 350,000,000
Deferred compensation derivatives
Derivative [Line Items]
Derivative, notional amount	$ 22,099,000
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]
Gain (Loss) on Fair Value Hedges Recognized in Earnings	$ 898,000	$ 1,317,000

DERIVATIVE INSTRUMENTS - ASSETS

DERIVATIVE INSTRUMENTS - ASSETS AND LIABILITIES MEASURED AT FAIR VALUE (Details) - USD ($) $ in Thousands	Apr. 02, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Derivative asset	$ 7,470	$ 7,062
Derivative liability	5,199	10,825
Designated as Hedging Instrument | Cash Flow Hedges | Commodities futures and options
Derivatives, Fair Value [Line Items]
Gross derivative assets, included within derivative liabilities	61,140	140,885
Derivative liability, gross liabilities	60,946	150,872
Designated as Hedging Instrument | Cash Flow Hedges | Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Derivative asset	1,199	2,229
Derivative liability	1,271	809
Designated as Hedging Instrument | Fair Value Hedging | Interest rate swap agreements
Derivatives, Fair Value [Line Items]
Derivative asset	4,432	1,768
Derivative liability	0	0
Non-designated Hedges
Derivatives, Fair Value [Line Items]
Derivative asset	1,839	3,065
Derivative liability	3,928	10,016
Non-designated Hedges | Commodities futures and options
Derivatives, Fair Value [Line Items]
Derivative asset	562	2,348
Derivative liability	3,887	10,000
Non-designated Hedges | Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Derivative asset	0	0
Derivative liability	41	16
Non-designated Hedges | Deferred compensation derivatives
Derivatives, Fair Value [Line Items]
Derivative asset	1,277	717
Derivative liability	$ 0	$ 0

DERIVATIVE INSTRUMENTS - EFFECT

DERIVATIVE INSTRUMENTS - EFFECTS OF DERIVATIVE INSTRUMENTS ON THE CONSOLIDATED STATEMENTS OF INCOME (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Non-designated Hedges
Derivative [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ (4,354)	$ (38,742)
Non-designated Hedges | Commodities futures and options
Derivative [Line Items]
Derivative, Gain (Loss) on Derivative, Net	(5,536)	(38,941)
Non-designated Hedges | Foreign exchange contracts
Derivative [Line Items]
Derivative, Gain (Loss) on Derivative, Net	(95)	(204)
Non-designated Hedges | Interest rate swap agreements
Derivative [Line Items]
Derivative, Gain (Loss) on Derivative, Net	0	0
Non-designated Hedges | Deferred compensation derivatives
Derivative [Line Items]
Derivative, Gain (Loss) on Derivative, Net	1,277	403
Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Losses recognized in other comprehensive income (“OCI”) (effective portion)	(1,499)	(33,909)
Gains (losses) reclassified from accumulated OCI into income (effective portion)	(3,033)	7,909
Designated as Hedging Instrument | Cash Flow Hedges | Commodities futures and options
Derivative [Line Items]
Losses recognized in other comprehensive income (“OCI”) (effective portion)	0	0
Gains (losses) reclassified from accumulated OCI into income (effective portion)	(438)	9,730
Designated as Hedging Instrument | Cash Flow Hedges | Foreign exchange contracts
Derivative [Line Items]
Losses recognized in other comprehensive income (“OCI”) (effective portion)	(1,499)	(4,116)
Gains (losses) reclassified from accumulated OCI into income (effective portion)	(172)	(261)
Designated as Hedging Instrument | Cash Flow Hedges | Interest rate swap agreements
Derivative [Line Items]
Losses recognized in other comprehensive income (“OCI”) (effective portion)	0	(29,793)
Gains (losses) reclassified from accumulated OCI into income (effective portion)	(2,423)	(1,560)
Designated as Hedging Instrument | Cash Flow Hedges | Deferred compensation derivatives
Derivative [Line Items]
Losses recognized in other comprehensive income (“OCI”) (effective portion)	0	0
Gains (losses) reclassified from accumulated OCI into income (effective portion)	$ 0	$ 0

FAIR VALUE MEASUREMENTS - ASSET

FAIR VALUE MEASUREMENTS - ASSETS AND LIABILITIES MEASURED AT FAIR VALUE (Details) - USD ($) $ in Thousands	Apr. 02, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	$ 7,470	$ 7,062
Derivative liability	5,199	10,825
Fair Value, Measurements, Recurring | Foreign exchange contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	1,199	2,229
Derivative liability	1,312	825
Fair Value, Measurements, Recurring | Foreign exchange contracts | Quoted prices in active markets of identical assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	0	0
Derivative liability	0	0
Fair Value, Measurements, Recurring | Foreign exchange contracts | Significant other observable inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	1,199	2,229
Derivative liability	1,312	825
Fair Value, Measurements, Recurring | Foreign exchange contracts | Significant other unobservable inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	0	0
Derivative liability	0	0
Fair Value, Measurements, Recurring | Interest rate swap agreements
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	4,432	1,768
Fair Value, Measurements, Recurring | Interest rate swap agreements | Quoted prices in active markets of identical assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	0	0
Fair Value, Measurements, Recurring | Interest rate swap agreements | Significant other observable inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	4,432	1,768
Fair Value, Measurements, Recurring | Interest rate swap agreements | Significant other unobservable inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	0	0
Fair Value, Measurements, Recurring | Deferred compensation derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	1,277	717
Fair Value, Measurements, Recurring | Deferred compensation derivatives | Quoted prices in active markets of identical assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	0	0
Fair Value, Measurements, Recurring | Deferred compensation derivatives | Significant other observable inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	1,277	717
Fair Value, Measurements, Recurring | Deferred compensation derivatives | Significant other unobservable inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	0	0
Fair Value, Measurements, Recurring | Commodities futures and options
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	562	2,348
Derivative liability	3,887	10,000
Fair Value, Measurements, Recurring | Commodities futures and options | Quoted prices in active markets of identical assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	562	2,348
Derivative liability	3,887	10,000
Fair Value, Measurements, Recurring | Commodities futures and options | Significant other observable inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	0	0
Derivative liability	0	0
Fair Value, Measurements, Recurring | Commodities futures and options | Significant other unobservable inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	0	0
Derivative liability	$ 0	$ 0

FAIR VALUE MEASUREMENTS - FAIR

FAIR VALUE MEASUREMENTS - FAIR VALUE OF LONG TERM DEBT (Details) - USD ($) $ in Thousands	Apr. 02, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of long-term debt	$ 158	$ 243
Long-term portion	2,350,941	2,347,455
Long-term Debt	2,351,099	2,347,698
Significant other observable inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Current Maturities, Fair Value	158	243
Current portion of long-term debt	158	243
Long-term Debt, Excluding Current Maturities, Fair Value	2,385,100	2,379,054
Long-term portion	2,350,941	2,347,455
Long-term Debt, Fair Value	2,385,258	2,379,297
Long-term Debt	$ 2,351,099	$ 2,347,698

FAIR VALUE MEASUREMENTS - NARRA

FAIR VALUE MEASUREMENTS - NARRATIVE (Details) - USD ($)	3 Months Ended
	Apr. 02, 2017	Dec. 31, 2016
Significant other unobservable inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Net Asset (Liability)	$ 0	$ 0
Margin for growth program
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible asset impairment charges	105,992,000
Impairment of property, plant and equipment	$ 102,720,000

BUSINESS REALIGNMENT ACTIVITI58

BUSINESS REALIGNMENT ACTIVITIES - REALIGNMENT RELATED CHARGES (Details) - USD ($)	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Restructuring Cost and Reserve [Line Items]
Business realignment charges	$ 46,988,000	$ 14,430,000
Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Business realignment charges	490,000	(487,000)
Selling, marketing and administrative
Restructuring Cost and Reserve [Line Items]
Business realignment charges	2,481,000	8,784,000
Business realignment charges
Restructuring Cost and Reserve [Line Items]
Business realignment charges	44,017,000	6,133,000
Operation optimization program
Restructuring Cost and Reserve [Line Items]
Business realignment charges	12,599,000
Severance | Margin for Growth [Member]
Restructuring Cost and Reserve [Line Items]
Business realignment charges	29,567,000	0
Severance | Operation optimization program
Restructuring Cost and Reserve [Line Items]
Business realignment charges	13,828,000	7,427,000
Severance | 2015 productivity initiative
Restructuring Cost and Reserve [Line Items]
Business realignment charges	0	(1,294,000)
Other program costs | Margin for Growth [Member]
Restructuring Cost and Reserve [Line Items]
Business realignment charges	4,822,000	0
Other program costs | Operation optimization program
Restructuring Cost and Reserve [Line Items]
Business realignment charges	(1,229,000)	5,545,000
Other program costs | 2015 productivity initiative
Restructuring Cost and Reserve [Line Items]
Business realignment charges	$ 0	$ 2,752,000

BUSINESS REALIGNMENT ACTIVITI59

BUSINESS REALIGNMENT ACTIVITIES - NARRATIVE (Details) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Feb. 28, 2017USD ($)	Apr. 02, 2017USD ($)	Apr. 03, 2016USD ($)	Dec. 31, 2015employee	Dec. 31, 2016USD ($)
Restructuring Cost and Reserve [Line Items]
Long-lived asset impairment charges		$ 208,712	$ 0
Business realignment charges		46,988	14,430
Prepaid expenses and other		247,647			$ 192,752
Margin for growth program
Restructuring Cost and Reserve [Line Items]
Period of expected costs	3 years
Intangible asset impairment charges		105,992
Expected reduction in workforce percentage	15.00%
Long-lived asset impairment charges		208,712
Impairment of property, plant and equipment		102,720
Margin for growth program | Contract termination
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	$ 25,000
Margin for growth program | Severance
Restructuring Cost and Reserve [Line Items]
Business realignment charges		29,567
Operation optimization program
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost		$ 8,000
Period of expected costs		2 years
Business realignment charges		$ 12,599
Operation optimization program | Facility closing
Restructuring Cost and Reserve [Line Items]
Property, plant and equipment and land use rights		20,303
Prepaid expenses and other		20,303
Operation optimization program | Other program costs
Restructuring Cost and Reserve [Line Items]
Business realignment charges		(1,229)	5,545
Operation optimization program | Severance
Restructuring Cost and Reserve [Line Items]
Business realignment charges		13,828	7,427
2015 productivity initiative
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected number of positions eliminated (employee) | employee				300
Incurred costs		125,031
2015 productivity initiative | Other program costs
Restructuring Cost and Reserve [Line Items]
Business realignment charges		0	2,752
2015 productivity initiative | Severance
Restructuring Cost and Reserve [Line Items]
Business realignment charges		0	(1,294)
2015 productivity initiative | Pension settlement cost
Restructuring Cost and Reserve [Line Items]
Business realignment charges		$ 13,669	$ 10,178
Minimum | Margin for growth program
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	375,000
Intangible asset impairment charges	100,000
Cash portion of charges	175,000
Expected annual savings	150,000
Minimum | Margin for growth program | Facility closing
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	100,000
Minimum | Margin for growth program | Other program costs
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	70,000
Minimum | Margin for growth program | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	80,000
Maximum | Margin for growth program
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	425,000
Intangible asset impairment charges	110,000
Cash portion of charges	200,000
Expected annual savings	175,000
Maximum | Margin for growth program | Facility closing
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	115,000
Maximum | Margin for growth program | Other program costs
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	75,000
Maximum | Margin for growth program | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	$ 100,000

BUSINESS REALIGNMENT ACTIVITI60

BUSINESS REALIGNMENT ACTIVITIES - REALIGMNMENT RESERVE ROLLFORWARD (Details) $ in Thousands	3 Months Ended
	Apr. 02, 2017USD ($)
Restructuring Reserve [Roll Forward]
Liability balance at December 31, 2016	$ 3,725
2017 business realignment charges (1)	45,913
Cash payments	(3,287)
Other, net	(288)
Liability balance at April 2, 2017 (reported within accrued and other long-term liabilities)	$ 46,063

INCOME TAXES - NARRATIVE (Detai

INCOME TAXES - NARRATIVE (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%
Effective Income Tax Rate Reconciliation, Percent	41.60%	32.30%
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	$ 3,910

PENSION AND OTHER POST-RETIRE62

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - COMPONENTS OF NET PERIODIC BENEFIT COST (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Pension Benefits
Amounts recognized in net periodic benefit cost
Service cost	$ 5,174	$ 5,884
Interest cost	10,299	10,835
Expected return on plan assets	(14,354)	(14,541)
Amortization of prior service (credit) cost	(1,456)	(262)
Amortization of net loss (gain)	8,422	8,807
Total net periodic benefit cost	8,085	10,723
Other Benefits
Amounts recognized in net periodic benefit cost
Service cost	65	74
Interest cost	2,208	2,436
Expected return on plan assets	0	0
Amortization of prior service (credit) cost	187	144
Amortization of net loss (gain)	0	(12)
Total net periodic benefit cost	$ 2,460	$ 2,642

PENSION AND OTHER POST-RETIRE63

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - NARRATIVE (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	$ 4,692	$ 1,175
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	$ 6,884	$ 7,664

STOCK COMPENSATION PLANS - NARR

STOCK COMPENSATION PLANS - NARRATIVE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized	$ 95,521
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition	2 years 5 months
Intrinsic value of share-based liabilities paid, combined with the fair value of shares vested (in millions of dollars)	$ 18,883	$ 16,181
Deferred performance stock units, deferred restricted stock units, and directors' fees and accumulated dividend amounts representing deferred stock units outstanding	461,338
Employee stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average fair value of options granted (per share)	$ 15.78	$ 11.42
Intrinsic value of options exercised (in millions of dollars)	$ 15,181	$ 20,348
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)			6,410
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. 02, 2017	Apr. 03, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Pre-tax compensation expense	$ 12,122	$ 11,678
Related income tax benefit	$ 3,818	$ 4,087

STOCK COMPENSATION PLANS - STOC

STOCK COMPENSATION PLANS - STOCK OPTION ACTIVITY (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding shares at beginning of year (shares)	6,192,008
Granted (shares)	1,047,725
Exercised (shares)	(367,721)
Forfeited (shares)	(112,089)
Outstanding as of December 31, 2015 (shares)	6,759,923
Options exercisable as of December 31, 2015 (shares)	4,383,186
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding (USD per share)	$ 82.67
Granted (USD per share)	108.06
Exercises (USD per share)	66.68
Forfeited (USD per share)	106.25
Outstanding (USD per share)	87.09
Options exercisable (USD per share)	$ 79.45
Options outstanding, weighted-average remaining contractual term	6 years 5 months	6 years 2 months
Options exercisable, weighted aver remaining contractual term	5 years
Aggregate intrinsic value of options outstanding	$ 145,967
Aggregate intrinsic value of options exercisable	$ 128,066

STOCK COMPENSATION PLANS - FAIR

STOCK COMPENSATION PLANS - FAIR VALUE WEIGHTED-AVERAGE ASSUMPTIONS (Details)	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Dividend yields	2.40%	2.40%
Expected volatility	17.20%	16.80%
Risk-free interest rates	2.20%	1.50%
Expected term in years	6 years 9 months	6 years 9 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. 02, 2017	Apr. 03, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at beginning of year (shares)	828,228
Granted (shares)	351,793	483,678
Performance assumption change (shares)	59,846
Vested (shares)	(175,088)
Forfeited (shares)	(92,905)
Outstanding at end of year (shares)	971,874
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)	$ 102.66
Weighted-average fair value at date of grant (USD per share)	111.28	$ 92.88
Performance assumption change	95.80
Vested (USD per share)	115.05
Forfeited (USD per share)	109.85
Outstanding at end of year (USD per share)	$ 101.84

STOCK COMPENSATION PLANS - PSUs

STOCK COMPENSATION PLANS - PSUs AND RSUS FAIR VALUE WEIGHTED-AVERAGE ASSUMPTIONS (Details) - $ / shares	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yields	2.40%	2.40%
Performance and restricted stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (shares)	351,793	483,678
Weighted-average fair value at date of grant (USD per share)	$ 111.28	$ 92.88
Estimated values (USD per share)	$ 46.85		$ 38.02
Dividend yields	2.30%	2.50%
Expected volatility	20.40%	17.00%

- NARRATIVE (Details)

- NARRATIVE (Details) - USD ($) $ in Thousands	Apr. 02, 2017	Apr. 02, 2017	Apr. 03, 2016	Dec. 31, 2017
North America | Geographic Concentration Risk | Sales Revenue, Goods, Net
Revenue, Major Customer [Line Items]
Concentration Risk, Percentage		89.00%
Operating Segments | Commodities futures and options
Revenue, Major Customer [Line Items]
Derivative, Gain (Loss) on Derivative, Net		$ (22,624)	$ (3,995)
Scenario, Forecast | Operating Segments | Commodities futures and options
Revenue, Major Customer [Line Items]
Derivative, Gain (Loss) on Derivative, Net				$ (88,675)
Cost of Sales [Member] | Commodities futures and options
Revenue, Major Customer [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ (145,937)

- SALES AND INCOME (Details)

- SALES AND INCOME (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Segment Reporting Information [Line Items]
Net Sales	$ 1,879,678	$ 1,828,812
Operating Income (Loss)	191,931	339,509
Long-lived asset impairment charges	208,712	0
Costs associated with business realignment activities	46,988	14,430
Interest expense, net	23,741	21,005
Other (income) expense, net	(171)	(21,225)
Income before income taxes	168,361	339,729
Operating Segments
Segment Reporting Information [Line Items]
Operating Income (Loss)	554,861	516,157
Operating Segments | North America
Segment Reporting Information [Line Items]
Net Sales	1,677,146	1,633,471
Operating Income (Loss)	553,138	529,390
Operating Segments | International and Other
Segment Reporting Information [Line Items]
Net Sales	202,532	195,341
Operating Income (Loss)	1,723	(13,233)
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Operating Income (Loss)	119,650	122,171
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Derivative, Gain (Loss) on Derivative, Net	(17,088)	34,946
Long-lived asset impairment charges	208,712	0
Costs associated with business realignment activities	46,988	14,430
Non-service related pension expense	4,368	5,101
Acquisition and integration costs	$ 300	$ 0

SEGMENT INFORMATION - SUMMARY O

SEGMENT INFORMATION - SUMMARY OF DERIVATIVE INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Commodities futures and options | Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ (17,088)	$ 34,946
Commodities futures and options | Operating Segments
Segment Reporting Information [Line Items]
Derivative, Gain (Loss) on Derivative, Net	22,624	3,995
Non-designated Hedges
Segment Reporting Information [Line Items]
Derivative, Gain (Loss) on Derivative, Net	4,354	38,742
Non-designated Hedges | Commodities futures and options
Segment Reporting Information [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 5,536	$ 38,941

- DEPRECIATION AND AMORTIZATION

- DEPRECIATION AND AMORTIZATION (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 64,952	$ 59,913
Operating Segments | North America
Segment Reporting Information [Line Items]
Depreciation and amortization	41,237	38,942
Operating Segments | International and Other
Segment Reporting Information [Line Items]
Depreciation and amortization	12,966	10,923
Corporate, Non-Segment | Corporate
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 10,749	$ 10,048

TREASURY STOCK ACTIVITY - COMMO

TREASURY STOCK ACTIVITY - COMMON STOCK OUTSTANDING (Details) - Employee stock options $ in Thousands	3 Months Ended
	Apr. 02, 2017USD ($)shares
Class of Stock [Line Items]
Stock Issued During Period, Shares, Share-based Compensation, Gross | shares	491,255
Stock Issued During Period, Value, Share-based Compensation, Gross | $	$ 20,441

TREASURY STOCK ACTIVITY - NARRA

TREASURY STOCK ACTIVITY - NARRATIVE (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2017	Feb. 29, 2016
Class of Stock [Line Items]
Treasury Stock, Shares, Acquired	0
2016 Share Repurchase Program [Member]
Class of Stock [Line Items]
Stock Repurchase Program, Authorized Amount		$ 500,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 100,000

NONCONTROLLING INTEREST NONCO76

NONCONTROLLING INTEREST NONCONTROLLING INTEREST (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016	Dec. 31, 2016
Noncontrolling Interest [Line Items]
Noncontrolling interests in subsidiaries	$ 15,375		$ 41,831
Net income (loss) attributable to noncontrolling interest	(26,796)	$ 0
Noncontrolling Interests in Subsidiaries
Noncontrolling Interest [Line Items]
Noncontrolling interests in subsidiaries	15,375		$ 41,831
Net income (loss) attributable to noncontrolling interest	(26,796)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Noncontrolling Interest	$ 340
Noncontrolling Interests in Subsidiaries | Selling, marketing and administrative
Noncontrolling Interest [Line Items]
Net income (loss) attributable to noncontrolling interest		$ (475)
Lotte Shanghai Food Company | Noncontrolling Interests in Subsidiaries
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	50.00%

EARNINGS PER SHARE - NARRATIVE

EARNINGS PER SHARE - NARRATIVE (Details) - shares shares in Thousands	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Employee stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (shares)	2,067	3,680
Common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dividends, Common Stock, Cash, Additional Percentage Over Class B Common Stock Dividends	10.00%

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Common stock
Basic earnings per share:
Allocation of distributed earnings (cash dividends paid)	$ 93,949	$ 90,238
Allocation of undistributed (losses) earnings	(2,183)	79,376
Total earnings—basic	$ 91,766	$ 169,614
Total weighted-average shares—basic (shares)	152,313	155,675
Earnings Per Share—basic (USD per share)	$ 0.60	$ 1.09
Diluted earnings per share:
Allocation of total earnings used in basic computation	$ 91,766	$ 169,614
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock	33,278	60,218
Reallocation of undistributed earnings	0	0
Total earnings—diluted	$ 125,044	$ 229,832
Conversion of Class B common stock to Common shares outstanding	60,620	60,620
Total weighted-average shares—diluted (shares)	214,522	217,487
Earnings Per Share—diluted (USD per share)	$ 0.58	$ 1.06
Common stock | Employee stock options
Diluted earnings per share:
Incremental common shares attributable to dilutive effect of share-based payment arrangements	1,265	1,005
Common stock | Performance and restricted stock options
Diluted earnings per share:
Incremental common shares attributable to dilutive effect of share-based payment arrangements	324	187
Class B common stock
Basic earnings per share:
Allocation of distributed earnings (cash dividends paid)	$ 34,068	$ 32,129
Allocation of undistributed (losses) earnings	(790)	28,089
Total earnings—basic	$ 33,278	$ 60,218
Total weighted-average shares—basic (shares)	60,620	60,620
Earnings Per Share—basic (USD per share)	$ 0.55	$ 0.99
Diluted earnings per share:
Allocation of total earnings used in basic computation	$ 33,278	$ 60,218
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock	0	0
Reallocation of undistributed earnings	(25)	(158)
Total earnings—diluted	$ 33,253	$ 60,060
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)	$ 0.55	$ 0.99
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

OTHER (INCOME) EXPENSE, NET O79

OTHER (INCOME) EXPENSE, NET OTHER (INCOME) EXPENSE, NET (Details) - USD ($) $ in Thousands	Feb. 03, 2016	Apr. 02, 2017	Apr. 03, 2016
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Write-down of equity investments in partnerships qualifying for tax credits		$ 0	$ 5,593
Settlement of SGM liability (see Note 2)		0	(26,650)
Other (income) expense, net		(171)	(168)
Total		(171)	(21,225)
Shanghai Golden Monkey Food Joint Stock Co., Ltd.
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Settlement of SGM liability (see Note 2)	$ (26,650)	$ 0	$ (26,650)

SUPPLEMENTAL BALANCE SHEET IN80

SUPPLEMENTAL BALANCE SHEET INFORMATION (Details) - USD ($) $ in Thousands	Apr. 02, 2017	Dec. 31, 2016
Inventory, Net [Abstract]
Raw materials	$ 299,484	$ 315,239
Goods in process	115,315	88,490
Finished goods	562,440	528,587
Inventories at FIFO	977,239	932,316
Adjustment to LIFO	(181,835)	(186,638)
Total inventories	795,404	745,678
Property, Plant and Equipment [Abstract]
Land	104,400	103,865
Buildings	1,180,501	1,238,634
Machinery and equipment	2,948,697	3,001,552
Construction in progress	206,391	230,987
Property, plant and equipment, gross	4,439,989	4,575,038
Accumulated depreciation	(2,389,550)	(2,397,790)
Property, plant and equipment, net	2,050,439	2,177,248
Other Assets, Noncurrent [Abstract]
Capitalized software, net	95,737	95,301
Income tax receivable	1,458	1,449
Other non-current assets	66,466	71,615
Total other assets	163,661	168,365
Accrued Liabilities, Current [Abstract]
Payroll, compensation and benefits	176,704	240,080
Advertising and promotion	320,999	358,573
Other	149,176	152,333
Total accrued liabilities	646,879	750,986
Other Liabilities, Noncurrent [Abstract]
Post-retirement benefits liabilities	218,517	220,270
Pension benefits liabilities	61,346	65,687
Other	119,712	114,204
Total other long-term liabilities	399,575	400,161
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Foreign currency translation adjustments	(97,002)	(110,613)
Pension and post-retirement benefit plans, net of tax	(202,849)	(207,169)
Cash flow hedges, net of tax	(57,559)	(58,106)
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (357,410)	$ (375,888)