The Hershey Company (HSY) 10-Q 27 Oct 17 2017 Q3 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - USD ($)	9 Months Ended
	Oct. 01, 2017	Oct. 20, 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	Oct. 1, 2017
Document fiscal year focus	2,017
Document fiscal period focus	Q3
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)		150,075,619
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		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016
Net sales	$ 2,033,121	$ 2,003,454	$ 5,575,790	$ 5,469,937
Cost of sales	1,092,899	1,152,606	2,965,798	3,054,315
Gross profit	940,222	850,848	2,609,992	2,415,622
Selling, marketing and administrative expense	497,182	474,494	1,404,970	1,408,759
Long-lived asset impairment charges	0	0	208,712	0
Business realignment costs	4,020	2,330	50,018	30,568
Operating profit	439,020	374,024	946,292	976,295
Interest expense, net	24,589	24,387	72,456	66,730
Other (income) expense, net	13,630	21,800	23,557	8,703
Income before income taxes	400,801	327,837	850,279	900,862
Provision for income taxes	126,788	100,434	275,291	297,671
Net income (loss) including noncontrolling interest	274,013	227,403	574,988	603,191
Net income (loss) attributable to noncontrolling interest	710	0	(26,860)	0
Net income (loss) attributable to The Hershey Company	$ 273,303	$ 227,403	$ 601,848	$ 603,191
Common stock
Net income per share—basic:
Net income per share - basic (USD per share)	$ 1.32	$ 1.09	$ 2.91	$ 2.88
Net income per share—diluted:
Net income per share - diluted (USD per share)	1.28	1.06	2.81	2.80
Dividends paid per share:
Dividends paid per share (USD per share)	0.656	0.618	1.892	1.784
Class B common stock
Net income per share—basic:
Net income per share - basic (USD per share)	1.20	0.99	2.64	2.63
Net income per share—diluted:
Net income per share - diluted (USD per share)	1.20	0.99	2.64	2.62
Dividends paid per share:
Dividends paid per share (USD per share)	$ 0.596	$ 0.562	$ 1.72	$ 1.622

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016
Statement of Comprehensive Income [Abstract]
Net income (loss) including noncontrolling interest	$ 274,013	$ 227,403	$ 574,988	$ 603,191
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, pre-tax amount	9,605	(8,533)	27,878	5,053
Foreign currency translation adjustments, tax (expense) benefit	0	0	0	0
Foreign currency translation adjustments, after-tax amount	9,605	(8,533)	27,878	5,053
Pension and post-retirement benefit plans:
Net actuarial gain (loss) and prior service cost, pre-tax amount	(9,200)	68	(9,396)	(29,738)
Net actuarial gain (loss) and prior service cost, tax (expense) benefit	3,487	(54)	3,561	11,296
Net actuarial gain (loss) and prior service cost, after-tax amount	(5,713)	14	(5,835)	(18,442)
Reclassification to earnings, pre-tax amount	24,300	11,828	38,544	46,133
Reclassification to earnings, tax (expense) benefit	(8,941)	(4,447)	(22,636)	(17,807)
Reclassification to earnings, after-tax amount	15,359	7,381	15,908	28,326
Cash flow hedges:
Gains (losses) on cash flow hedging derivatives, pre-tax amount	(1,339)	1,354	(3,545)	(53,627)
Gains (losses) on cash flow hedging derivatives, tax (expense) benefit	761	(210)	1,643	18,838
Gains (losses) on cash flow hedging derivatives, after-tax amount	(578)	1,144	(1,902)	(34,789)
Reclassification to earnings, pre-tax amount	1,962	(2,288)	7,374	(14,064)
Reclassification to earnings, tax (expense) benefit	(1,380)	1,390	(3,827)	6,079
Reclassification to earnings, after-tax amount	582	(898)	3,547	(7,985)
Total other comprehensive income (loss), pre-tax amount	25,328	2,429	60,855	(46,243)
Total other comprehensive income (loss), tax (expense) benefit	(6,073)	(3,321)	(21,259)	18,406
Total other comprehensive income (loss), after-tax amount	19,255	(892)	39,596	(27,837)
Total comprehensive income (loss) including noncontrolling interest	293,268	226,511	614,584	575,354
Comprehensive income (loss) attributable to noncontrolling interests	1,029	(751)	(26,125)	(2,040)
Comprehensive income (loss) attributable to The Hershey Company	$ 292,239	$ 227,262	$ 640,709	$ 577,394

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 01, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 275,056	$ 296,967
Accounts receivable—trade, net	742,832	581,381
Inventories	938,187	745,678
Prepaid expenses and other	258,379	192,752
Total current assets	2,214,454	1,816,778
Property, plant and equipment, net	2,050,124	2,177,248
Goodwill	822,348	812,344
Other intangibles	375,455	492,737
Other assets	174,611	168,365
Deferred income taxes	18,485	56,861
Total assets	5,655,477	5,524,333
Current liabilities:
Accounts payable	529,442	522,536
Accrued liabilities	673,435	750,986
Accrued income taxes	19,109	3,207
Short-term debt	815,588	632,471
Current portion of long-term debt	300,096	243
Total current liabilities	2,337,670	1,909,443
Long-term debt	2,054,132	2,347,455
Other long-term liabilities	402,396	400,161
Deferred income taxes	22,303	39,587
Total liabilities	4,816,501	4,696,646
Stockholders’ equity:
Preferred stock, shares issued: none at October 1, 2017 and December 31, 2016	0	0
Additional paid-in capital	910,246	869,857
Retained earnings	6,325,011	6,115,961
Treasury—common stock shares, at cost: 149,232,801 at October 1, 2017 and 147,642,009 at December 31, 2016	(6,434,861)	(6,183,975)
Accumulated other comprehensive loss	(337,027)	(375,888)
Total—The Hershey Company stockholders’ equity	823,270	785,856
Noncontrolling interest in subsidiary	15,706	41,831
Total stockholders’ equity	838,976	827,687
Total liabilities and stockholders’ equity	5,655,477	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	Oct. 01, 2017	Dec. 31, 2016
Preferred stock, shares issued (shares)	0	0
Treasury stock, shares (shares)	149,232,801	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	9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016
Net income (loss) including noncontrolling interest	$ 574,988	$ 603,191
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	194,313	241,901
Stock-based compensation expense	37,966	40,699
Deferred income taxes	(14,859)	(12,703)
Long-lived asset impairment charges	208,712	0
Write-down of equity investments	23,999	35,862
Settlement of SGM liability (see Note 2)	0	(26,650)
Other	60,129	42,499
Changes in assets and liabilities, net of business acquisitions:
Accounts receivable—trade, net	(161,451)	(157,142)
Inventories	(192,509)	(83,221)
Prepaid expenses and other current assets	(33,581)	(44,254)
Accounts payable and accrued liabilities	(15,380)	(126,966)
Accrued income taxes	18,849	1,128
Contributions to pension and other benefits plans	(57,883)	(42,566)
Other assets and liabilities	(17,394)	(21,018)
Net cash provided by operating activities	625,899	450,760
Investing Activities
Capital additions (including software)	(148,923)	(168,225)
Proceeds from sales of property, plant and equipment	1,758	3,032
Equity investments in tax credit qualifying partnerships	(39,977)	(35,395)
Business acquisitions, net of cash and cash equivalents acquired	0	(285,374)
Net cash used in investing activities	(187,142)	(485,962)
Financing Activities
Net increase in short-term debt	173,110	250,573
Proceeds from Issuance of Long-term Debt	0	792,923
Repayment of long-term debt	(204)	(250,000)
Payment of SGM liability (see Note 2)	0	(35,762)
Cash dividends paid	(391,845)	(371,706)
Repurchase of common stock	(300,312)	(452,580)
Exercise of stock options	53,532	88,093
Net cash (used in) provided by financing activities	(465,719)	21,541
Effect of exchange rate changes on cash and cash equivalents	5,051	465
Decrease in cash and cash equivalents	(21,911)	(13,196)
Cash and cash equivalents, beginning of period	296,967	346,529
Cash and cash equivalents, end of period	275,056	333,333
Supplemental Disclosure
Interest paid	81,497	72,925
Income taxes paid	$ 271,412	$ 306,580

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - 9 months ended Oct. 01, 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 Interest in Subsidiary
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	601,848							601,848
Net income (loss) attributable to noncontrolling interest	(26,860)												(26,860)
Net income (loss) including noncontrolling interest	574,988
Other comprehensive income (loss)	39,596											38,861	735
Dividends:
Common Stock		$ (288,533)	$ (104,265)						$ (288,533)	$ (104,265)
Stock-based compensation	36,283						36,283
Exercise of stock options and incentive-based transactions	53,532						4,106				49,426
Treasury Stock, Value, Acquired, Cost Method	300,312										300,312
Ending balance, stockholders' equity at Oct. 01, 2017	$ 838,976			$ 0	$ 299,281	$ 60,620	$ 910,246	$ 6,325,011			$ (6,434,861)	$ (337,027)	$ 15,706

CONSOLIDATED STATEMENTS OF STO8

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016
Common stock
Dividends paid per share (USD per share)	$ 0.656	$ 0.618	$ 1.892	$ 1.784
Class B common stock
Dividends paid per share (USD per share)	$ 0.596	$ 0.562	$ 1.72	$ 1.622

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Oct. 01, 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 October 1, 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 full retrospective or modified retrospective transition method. We have substantially completed our assessment of the new standard and we do not expect our adoption of the new standard to have a material impact on our consolidated financial statements. We intend to adopt the requirements of the new standard in the first quarter of 2018 utilizing the modified retrospective transition method. 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 $7,927 recognized during the nine months ended October 1, 2017. Additionally, within the Consolidated Statement of Cash Flows, the impact of the adoption resulted in a $19,916 increase in net cash flow from operating activities and a corresponding decrease in net cash flow from financing activities for the nine months ended October 1, 2017. These classification requirements were adopted retrospectively to the Consolidated Statement of Cash Flows for the nine months ended October 2, 2016, resulting in a $28,221 increase in net cash flow from operating activities and a corresponding $28,221 decrease in net cash flow from financing activities. In March 2017, the FASB issued ASU No. 2017-07, Compensation-Retirement Benefits (Topic 715) . This ASU will require an employer to report the service cost component of net benefit cost in the same line item as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if presented, or disclosed separately. In addition, only the service cost component may be eligible for capitalization where applicable. The amendments should be applied on a retrospective basis. ASU 2017-07 is effective for us beginning January 1, 2018, with early adoption permitted as of the beginning of a financial year. We currently plan to adopt the requirements of the new standard in the first quarter of 2018 and expect the adoption to impact only classification within our Consolidated Statement of Income. In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , which amends ASC 815. The purpose of this ASU is to better align accounting rules with a company’s risk management activities and financial reporting for hedging relationships, better reflect economic results of hedging in financial statements, simplify hedge accounting requirements and improve the disclosures of hedging arrangements. The amendment should be applied using the modified retrospective transition method. ASU 2017-12 is effective for annual periods beginning after December 15, 2018 and interim periods within those annual periods, with early adoption permitted. We currently plan to adopt the requirements of the new standard in the first quarter of 2018. We do not expect it to have a significant impact on our Consolidated Financial Statements. 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	9 Months Ended
	Oct. 01, 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	9 Months Ended
	Oct. 01, 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 nine months ended October 1, 2017 are as follows: North America International and Other Total Balance at December 31, 2016 $ 792,190 $ 20,154 $ 812,344 Foreign currency translation 8,401 1,603 10,004 Balance at October 1, 2017 800,591 21,757 822,348 The following table provides the gross carrying amount and accumulated amortization for each major class of intangible asset: October 1, 2017 December 31, 2016 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Intangible assets subject to amortization: Trademarks $ 272,599 $ (34,516 ) $ 317,023 $ (30,458 ) Customer-related 128,722 (33,069 ) 200,409 (36,482 ) Patents 17,059 (15,562 ) 16,426 (13,700 ) Total 418,380 (83,147 ) 533,858 (80,640 ) Intangible assets not subject to amortization: Trademarks 40,222 39,519 Total other intangible assets $ 375,455 $ 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 first quarter of 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 October 1, 2017 and October 2, 2016 was $5,410 and $7,666 , respectively. Total amortization expense for the nine months ended October 1, 2017 and October 2, 2016 was $17,968 and $18,811 , respectively.

SHORT AND LONG-TERM DEBT

SHORT AND LONG-TERM DEBT	9 Months Ended
	Oct. 01, 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 October 1, 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 $175,279 at October 1, 2017 and $158,805 at December 31, 2016 . Commitment fees relating to our revolving credit facility and lines of credit are not material. At October 1, 2017 , we had outstanding commercial paper totaling $640,309 , at a weighted average interest rate of 1.2% . 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, October 1, 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 86,201 83,619 Net impact of interest rate swaps, debt issuance costs and unamortized debt discounts (10,327 ) (14,275 ) Total long-term debt 2,354,228 2,347,698 Less—current portion 300,096 243 Long-term portion $ 2,054,132 $ 2,347,455 Interest Expense Net interest expense consisted of the following: Three Months Ended Nine Months Ended October 1, 2017 October 2, 2016 October 1, 2017 October 2, 2016 Interest expense $ 25,955 $ 25,882 $ 76,208 $ 72,404 Capitalized interest (1,033 ) (1,141 ) (2,892 ) (4,702 ) Interest expense 24,922 24,741 73,316 67,702 Interest income (333 ) (354 ) (860 ) (972 ) Interest expense, net $ 24,589 $ 24,387 $ 72,456 $ 66,730

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	9 Months Ended
	Oct. 01, 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, assuming period-end market prices, of $408,983 as of October 1, 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 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 $107,507 at October 1, 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 October 1, 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 October 1, 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 October 1, 2017 and December 31, 2016 was $24,164 and $22,099 , respectively. The following table presents the classification of derivative assets and liabilities within the Consolidated Balance Sheets as of October 1, 2017 and December 31, 2016 : December 31, October 1, 2017 December 31, 2016 Assets (1) Liabilities (1) Assets (1) Liabilities (1) Derivatives designated as cash flow hedging instruments: Foreign exchange contracts $ 421 $ 4,216 $ 2,229 $ 809 Derivatives designated as fair value hedging instruments: Interest rate swap agreements 4,571 — 1,768 — Derivatives not designated as hedging instruments: Commodities futures and options (2) 6,222 295 2,348 10,000 Deferred compensation derivatives 994 — 717 — Foreign exchange contracts 14 — — 16 7,230 295 3,065 10,016 Total $ 12,222 $ 4,511 $ 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 October 1, 2017 , assets and liabilities include the net of assets of $38,963 and liabilities of $33,780 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 October 1, 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 October 1, 2017 and October 2, 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 $ (2,445 ) $ (37,246 ) $ — $ — $ (488 ) $ 7,780 Foreign exchange contracts 11 (27 ) (1,339 ) 1,628 869 (2,659 ) Interest rate swap agreements — — — (274 ) (2,343 ) (2,833 ) Deferred compensation derivatives 349 665 — — — — Total $ (2,085 ) $ (36,608 ) $ (1,339 ) $ 1,354 $ (1,962 ) $ 2,288 (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 effect of derivative instruments on the Consolidated Statements of Income for the nine months ended October 1, 2017 and October 2, 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 $ (40,500 ) $ (37,176 ) $ — $ — $ (1,325 ) $ 23,648 Foreign exchange contracts (40 ) (484 ) (3,545 ) (6,404 ) 1,087 (3,681 ) Interest rate swap agreements — — — (47,223 ) (7,136 ) (5,903 ) Deferred compensation derivatives 994 1,486 — — — — Total $ (39,546 ) $ (36,174 ) $ (3,545 ) $ (53,627 ) $ (7,374 ) $ 14,064 (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 $13,299 as of October 1, 2017 . This amount is primarily associated with deferred losses relating to interest rate swap agreements. Fair Value Hedges For the three months ended October 1, 2017 and October 2, 2016 , we recognized a net pretax benefit to interest expense of $573 and $1,022 relating to our fixed-to-floating interest swap arrangements. For the nine months ended October 1, 2017 and October 2, 2016 , we recognized a net pretax benefit to interest expense of $2,203 and $3,477 relating to our fixed-to-floating interest swap arrangements.

FAIR VALUE MEASUREMENTS FAIR VA

FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS	9 Months Ended
	Oct. 01, 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 October 1, 2017 and December 31, 2016 : Level 1 Level 2 Level 3 Total October 1, 2017: Derivative Instruments: Assets: Foreign exchange contracts (1) $ — $ 435 $ — $ 435 Interest rate swap agreements (2) — 4,571 — 4,571 Deferred compensation derivatives (3) — 994 — 994 Commodities futures and options (4) 6,222 — — 6,222 Liabilities: Foreign exchange contracts (1) — 4,216 — 4,216 Commodities futures and options (4) 295 — — 295 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 October 1, 2017 and October 2, 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 October 1, 2017 December 31, 2016 October 1, 2017 December 31, 2016 Current portion of long-term debt $ 300,348 $ 243 $ 300,096 $ 243 Long-term debt 2,114,276 2,379,054 2,054,132 2,347,455 Total $ 2,414,624 $ 2,379,297 $ 2,354,228 $ 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 first quarter of 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	9 Months Ended
	Oct. 01, 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 and nine months ended October 1, 2017 and October 2, 2016 related to these activities are as follows: Three Months Ended Nine Months Ended October 1, 2017 October 2, 2016 October 1, 2017 October 2, 2016 Margin for Growth Program: Severance $ 2,876 $ — $ 33,331 $ — Accelerated depreciation — — 6,873 — Other program costs 5,013 — 16,216 — Operational Optimization Program: Accelerated depreciation and amortization — 24,470 — 57,948 Severance — 87 13,828 17,442 Other program costs 368 414 (549 ) 9,822 2015 Productivity Initiative: Pension settlement charge — — — 13,669 Severance — 2,243 — (543 ) Other program costs — 748 — 6,149 Total business realignment costs $ 8,257 $ 27,962 $ 69,699 $ 104,487 The costs and related benefits to be derived from the Margin for Growth Program relate approximately 85% to the North America segment and 15% to the International and Other segment for the three months ended October 1, 2017 . The costs and related benefits to be derived from the Margin for Growth Program relate approximately 45% to the North America segment and 55% to the International and Other segment for the nine months ended October 1, 2017 . 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 first quarter of 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 in the long-lived asset impairment charges caption within the Consolidated Statements of Operations. During the three and nine months ended October 1, 2017 , we recognized estimated employee severance totaling $2,876 and $33,331 , respectively. These charges relate 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. We also recognized non-cash, asset-related incremental depreciation expense totaling $6,873 for the nine months ended October 1, 2017 as part of optimizing the North America supply chain. During the three and nine months ended October 1, 2017 , we also recognized other program costs totaling $5,013 and $16,216 , respectively. These charges relate primarily to third-party charges for our initiative of improving global efficiency and effectiveness. 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 October 1, 2017 , we recognized costs of $368 . During the nine months ended October 1, 2017 , we recognized costs of $13,279 primarily related to employee severance associated with the workforce planning efforts within North America. We currently expect to incur additional cash costs of approximately $9,000 over the next 18 months to complete this program. During the first quarter of 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 through the nine months ended October 2, 2016 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 and nine months ended October 1, 2017 and October 2, 2016 as follows: Three Months Ended Nine Months Ended October 1, 2017 October 2, 2016 October 1, 2017 October 2, 2016 Cost of sales $ 213 $ 24,470 $ 6,475 $ 57,948 Selling, marketing and administrative expense 4,024 1,162 13,206 15,971 Business realignment costs 4,020 2,330 50,018 30,568 Costs associated with business realignment activities $ 8,257 $ 27,962 $ 69,699 $ 104,487 The following table presents the liability activity for costs qualifying as exit and disposal costs: Total Liability balance at December 31, 2016 $ 3,725 2017 business realignment charges (1) 61,253 Cash payments (23,742 ) Other, net (69 ) Liability balance at October 1, 2017 (reported within accrued and other long-term liabilities) $ 41,167 (1) The costs reflected in the liability roll-forward represents employee-related and third-party service provider charges. These costs 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	9 Months Ended
	Oct. 01, 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 nine months ended October 1, 2017 and October 2, 2016 were 32.4% and 33.0% , respectively. Relative to the statutory rate, the 2017 effective tax rate was impacted by a favorable foreign rate differential relating to foreign operations and cocoa procurement, investment tax credits and the benefit of ASU 2016-09, which were partially offset by non-benefited costs resulting from the Margin for Growth Program. The 2016 effective rate benefited from the impact of non-taxable income related to the settlement of the SGM liability and investment tax credits. 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 $7,191 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	9 Months Ended
	Oct. 01, 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 third quarter were as follows: Pension Benefits Other Benefits Three Months Ended Three Months Ended October 1, 2017 October 2, 2016 October 1, 2017 October 2, 2016 Service cost $ 5,262 $ 5,794 $ 66 $ 75 Interest cost 10,320 10,130 2,214 2,435 Expected return on plan assets (14,390 ) (14,700 ) — — Amortization of prior service (credit) cost (1,455 ) (262 ) 187 144 Amortization of net loss 8,526 8,803 (1 ) (4 ) Settlement loss 17,043 3,147 — — Total net periodic benefit cost $ 25,306 $ 12,912 $ 2,466 $ 2,650 We made contributions of $31,512 and $6,922 to the pension plans and other benefits plans, respectively, during the third quarter of 2017 . In the third quarter of 2016 , we made contributions of $18,549 and $7,473 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. The components of net periodic benefit cost for the year-to-date periods were as follows: Pension Benefits Other Benefits Nine Months Ended Nine Months Ended October 1, 2017 October 2, 2016 October 1, 2017 October 2, 2016 Service cost $ 15,487 $ 17,377 $ 197 $ 224 Interest cost 30,819 31,914 6,626 7,300 Expected return on plan assets (43,088 ) (44,073 ) — — Amortization of prior service (credit) cost (4,366 ) (785 ) 560 432 Amortization of net loss (gain) 25,308 26,411 (1 ) (10 ) Settlement loss 17,043 20,085 — — Total net periodic benefit cost $ 41,203 $ 50,929 $ 7,382 $ 7,946 We made contributions of $36,497 and $21,386 to the pension plans and other benefits plans, respectively, during the first nine months of 2017 . In the first nine months of 2016 , we made contributions of $20,385 and $22,181 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. During the third quarter of 2017, cumulative lump sum distributions from our supplemental executive retirement plan exceeded the plan’s anticipated annual service and interest costs, triggering the recognition of non-cash pension settlement charges due to the acceleration of a portion of the accumulated unrecognized actuarial loss. In addition, settlement charges were also triggered in the pension plan benefiting our employees in Puerto Rico as a result of lump sum distributions and the purchase of annuity contracts relating to the termination of this plan. In connection with these settlements, the related plan assets and liabilities were remeasured at September 1, 2017 using a discount rate of 3.44% , compared to 3.81% as of December 31, 2016 and an expected rate of return on plan assets of 5.8% . During the three and nine months ended October 2, 2016, settlement charges in our salaried defined benefit pension plan were triggered by lump sum withdrawals by employees retiring or leaving the Company as a result of the 2015 Productivity Initiative.

STOCK COMPENSATION PLANS

STOCK COMPENSATION PLANS	9 Months Ended
	Oct. 01, 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 Nine Months Ended October 1, 2017 October 2, 2016 October 1, 2017 October 2, 2016 Pre-tax compensation expense $ 13,409 $ 14,491 $ 37,966 $ 40,699 Related income tax benefit 4,076 4,406 11,124 13,186 Compensation costs for stock-based compensation plans are primarily included in selling, marketing and administrative expense. As of October 1, 2017 , total stock-based compensation cost related to non-vested awards not yet recognized was $71,908 and the weighted-average period over which this amount is expected to be recognized was approximately 2.2 years . Stock Options A summary of activity relating to grants of stock options for the period ended October 1, 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 1,086,175 $ 108.05 Exercised (966,532 ) $ 69.95 Forfeited (219,456 ) $ 103.08 Outstanding as of October 1, 2017 6,092,195 $ 88.47 6.0 years $ 115,872 Options exercisable as of October 1, 2017 3,848,894 $ 80.96 4.5 years $ 101,692 The weighted-average fair value of options granted was $15.77 and $11.46 per share for the periods ended October 1, 2017 and October 2, 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: Nine Months Ended October 1, 2017 October 2, 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 $38,845 and $70,009 for the periods ended October 1, 2017 and October 2, 2016 , respectively. Performance Stock Units and Restricted Stock Units A summary of activity relating to grants of PSUs and RSUs for the period ended October 1, 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 441,634 $111.00 Performance assumption change 23,780 $101.40 Vested (242,011 ) $111.19 Forfeited (125,782 ) $107.73 Outstanding as of October 1, 2017 925,849 $102.36 The table above includes 6,410 units of PSUs awarded to participants in a prior period for which the measurement (grant) date 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. Nine Months Ended October 1, 2017 October 2, 2016 Units granted 441,634 531,019 Weighted-average fair value at date of grant $ 111.00 $ 93.47 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 $26,097 and $19,673 for the periods ended October 1, 2017 and October 2, 2016 , respectively. Deferred PSUs, deferred RSUs and deferred stock units representing directors’ fees totaled 369,037 units as of October 1, 2017 . Each unit is equivalent to one share of the Company’s Common Stock.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Oct. 01, 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 Nine Months Ended October 1, 2017 October 2, 2016 October 1, 2017 October 2, 2016 Net sales: North America $ 1,792,377 $ 1,764,528 $ 4,946,537 $ 4,842,840 International and Other 240,744 238,926 629,253 627,097 Total $ 2,033,121 $ 2,003,454 $ 5,575,790 $ 5,469,937 Segment income (loss): North America $ 554,578 $ 563,946 $ 1,568,098 $ 1,519,059 International and Other 16,400 4,284 26,491 (12,411 ) Total segment income 570,978 568,230 1,594,589 1,506,648 Unallocated corporate expense (1) 124,115 121,828 366,938 370,622 Unallocated mark-to-market (gains) losses on commodity derivatives (21,954 ) 35,791 (27,486 ) 30,851 Long-lived asset impairment charges — — 208,712 — Costs associated with business realignment activities 8,257 27,962 69,699 104,487 Non-service related pension expense 21,540 6,360 30,123 20,666 Acquisition and integration costs — 2,265 311 3,727 Operating profit 439,020 374,024 946,292 976,295 Interest expense, net 24,589 24,387 72,456 66,730 Other (income) expense, net 13,630 21,800 23,557 8,703 Income before income taxes $ 400,801 $ 327,837 $ 850,279 $ 900,862 (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 Nine Months Ended October 1, 2017 October 2, 2016 October 1, 2017 October 2, 2016 Net losses on mark-to-market valuation of commodity derivative positions recognized in income $ 2,445 $ 37,246 $ 40,500 $ 37,176 Net losses on commodity derivative positions reclassified from unallocated to segment income (24,399 ) (1,455 ) (67,986 ) (6,325 ) Net (gains) losses on mark-to-market valuation of commodity derivative positions recognized in unallocated derivative (gains) losses $ (21,954 ) $ 35,791 $ (27,486 ) $ 30,851 As of October 1, 2017 , the cumulative amount of mark-to-market losses on commodity derivatives that have been recognized in our consolidated cost of sales and not yet allocated to reportable segments was $135,538 . 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 $93,814 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 Nine Months Ended October 1, 2017 October 2, 2016 October 1, 2017 October 2, 2016 North America $ 42,544 $ 41,592 $ 125,532 $ 120,378 International and Other 9,397 13,515 32,110 37,523 Corporate (1) 10,293 30,015 36,671 84,000 Total $ 62,234 $ 85,122 $ 194,313 $ 241,901 (1) Corporate includes non-cash asset-related accelerated depreciation and amortization related to business realignment activities, as discussed in Note 7. Such amounts are not included within our measure of segment income.

TREASURY STOCK ACTIVITY (Notes)

TREASURY STOCK ACTIVITY (Notes)	9 Months Ended
	Oct. 01, 2017
Equity [Abstract]
Treasury Stock Activity	TREASURY STOCK ACTIVITY A summary of our treasury stock activity is as follows: Nine Months Ended October 1, 2017 Shares Dollars In thousands Shares repurchased in the open market under pre-approved share repurchase programs — $ — Milton Hershey School Trust repurchase 1,500,000 159,015 Shares repurchased to replace Treasury Stock issued for stock options and incentive compensation 1,278,675 141,297 Total share repurchases 2,778,675 300,312 Shares issued for stock options and incentive compensation (1,187,883 ) $ (49,426 ) Net change 1,590,792 $ 250,886 In August 2017, the Company entered into a Stock Purchase Agreement with Hershey Trust Company, as trustee for the Milton Hershey School Trust (the “Trust”), pursuant to which the Company agreed to purchase 1,500,000 shares of the Company’s common stock from the Trust at a price equal to $106.01 per share, for a total purchase price of $159,015 . In January 2016, our Board of Directors approved a $500,000 authorization to repurchase shares of our Common Stock. As of October 1, 2017 , $100,000 remained available for repurchases of our Common Stock under this program. In October 2017, our Board of Directors approved an additional $100,000 share repurchase authorization, to commence after the existing 2016 authorization is completed. We are authorized to purchase our outstanding shares in open market and privately negotiated transactions. The programs have 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)	9 Months Ended
	Oct. 01, 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 Interest Balance, December 31, 2016 $ 41,831 Net loss attributable to noncontrolling interest (26,860 ) Other comprehensive income - foreign currency translation adjustments 735 Balance, October 1, 2017 $ 15,706 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 nine months ended October 2, 2016 , the net loss attributable to noncontrolling interests totaled $798 , which was presented within selling, marketing and administrative expense in the Consolidated Statements of Income since the amount was not considered significant.

CONTINGENCIES

CONTINGENCIES	9 Months Ended
	Oct. 01, 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	9 Months Ended
	Oct. 01, 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 October 1, 2017 October 2, 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) $ 99,588 $ 36,129 $ 94,498 $ 34,068 Allocation of undistributed earnings 100,892 36,694 72,691 26,146 Total earnings—basic $ 200,480 $ 72,823 $ 167,189 $ 60,214 Denominator (shares in thousands): Total weighted-average shares—basic 151,418 60,620 153,259 60,620 Earnings Per Share—basic $ 1.32 $ 1.20 $ 1.09 $ 0.99 Diluted earnings per share: Numerator: Allocation of total earnings used in basic computation $ 200,480 $ 72,823 $ 167,189 $ 60,214 Reallocation of total earnings as a result of conversion of Class B common stock to Common stock 72,823 — 60,214 — Reallocation of undistributed earnings — (239 ) — (160 ) Total earnings—diluted $ 273,303 $ 72,584 $ 227,403 $ 60,054 Denominator (shares in thousands): Number of shares used in basic computation 151,418 60,620 153,259 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 1,002 — 1,062 — Performance and restricted stock units 352 — 220 — Total weighted-average shares—diluted 213,392 60,620 215,161 60,620 Earnings Per Share—diluted $ 1.28 $ 1.20 $ 1.06 $ 0.99 The earnings per share calculations for the three months ended October 1, 2017 and October 2, 2016 excluded 2,374 and 2,921 , respectively, of stock options (in thousands) that would have been antidilutive. Nine Months Ended October 1, 2017 October 2, 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) $ 287,580 $ 104,265 $ 273,380 $ 98,326 Allocation of undistributed earnings 154,128 55,875 170,458 61,027 Total earnings—basic $ 441,708 $ 160,140 $ 443,838 $ 159,353 Denominator (shares in thousands): Total weighted-average shares—basic 152,004 60,620 153,943 60,620 Earnings Per Share—basic $ 2.91 $ 2.64 $ 2.88 $ 2.63 Diluted earnings per share: Numerator: Allocation of total earnings used in basic computation $ 441,708 $ 160,140 $ 443,838 $ 159,353 Reallocation of total earnings as a result of conversion of Class B common stock to Common stock 160,140 — 159,353 — Reallocation of undistributed earnings — (401 ) — (347 ) Total earnings—diluted $ 601,848 $ 159,739 $ 603,191 $ 159,006 Denominator (shares in thousands): Number of shares used in basic computation 152,004 60,620 153,943 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 1,165 — 1,013 — Performance and restricted stock units 334 — 182 — Total weighted-average shares—diluted 214,123 60,620 215,758 60,620 Earnings Per Share—diluted $ 2.81 $ 2.64 $ 2.80 $ 2.62 The earnings per share calculations for the nine months ended October 1, 2017 and October 2, 2016 excluded 2,374 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	9 Months Ended
	Oct. 01, 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 Nine Months Ended October 1, 2017 October 2, 2016 October 1, 2017 October 2, 2016 Write-down of equity investments in partnerships qualifying for tax credits $ 13,736 $ 20,801 $ 23,999 $ 35,862 Settlement of SGM liability (see Note 2) — — — (26,650 ) Other (income) expense, net (106 ) 999 (442 ) (509 ) Total $ 13,630 $ 21,800 $ 23,557 $ 8,703

SUPPLEMENTAL BALANCE SHEET INFO

SUPPLEMENTAL BALANCE SHEET INFORMATION	9 Months Ended
	Oct. 01, 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: October 1, 2017 December 31, 2016 Inventories: Raw materials $ 292,976 $ 315,239 Goods in process 102,292 88,490 Finished goods 724,754 528,587 Inventories at FIFO 1,120,022 932,316 Adjustment to LIFO (181,835 ) (186,638 ) Total inventories $ 938,187 $ 745,678 Property, plant and equipment: Land $ 108,173 $ 103,865 Buildings 1,200,194 1,238,634 Machinery and equipment 2,910,916 3,001,552 Construction in progress 191,805 230,987 Property, plant and equipment, gross 4,411,088 4,575,038 Accumulated depreciation (2,360,964 ) (2,397,790 ) Property, plant and equipment, net $ 2,050,124 $ 2,177,248 Other assets: Capitalized software, net $ 99,329 $ 95,301 Income tax receivable — 1,449 Other non-current assets 75,282 71,615 Total other assets $ 174,611 $ 168,365 Accrued liabilities: Payroll, compensation and benefits $ 181,167 $ 240,080 Advertising and promotion 320,788 358,573 Other 171,480 152,333 Total accrued liabilities $ 673,435 $ 750,986 Other long-term liabilities: Post-retirement benefits liabilities $ 213,986 $ 220,270 Pension benefits liabilities 67,681 65,687 Other 120,729 114,204 Total other long-term liabilities $ 402,396 $ 400,161 Accumulated other comprehensive loss: Foreign currency translation adjustments $ (83,470 ) $ (110,613 ) Pension and post-retirement benefit plans, net of tax (197,095 ) (207,169 ) Cash flow hedges, net of tax (56,462 ) (58,106 ) Total accumulated other comprehensive loss $ (337,027 ) $ (375,888 )

SUMMARY OF SIGNIFICANT ACCOUN26

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Oct. 01, 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 October 1, 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 full retrospective or modified retrospective transition method. We have substantially completed our assessment of the new standard and we do not expect our adoption of the new standard to have a material impact on our consolidated financial statements. We intend to adopt the requirements of the new standard in the first quarter of 2018 utilizing the modified retrospective transition method. 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 $7,927 recognized during the nine months ended October 1, 2017. Additionally, within the Consolidated Statement of Cash Flows, the impact of the adoption resulted in a $19,916 increase in net cash flow from operating activities and a corresponding decrease in net cash flow from financing activities for the nine months ended October 1, 2017. These classification requirements were adopted retrospectively to the Consolidated Statement of Cash Flows for the nine months ended October 2, 2016, resulting in a $28,221 increase in net cash flow from operating activities and a corresponding $28,221 decrease in net cash flow from financing activities. In March 2017, the FASB issued ASU No. 2017-07, Compensation-Retirement Benefits (Topic 715) . This ASU will require an employer to report the service cost component of net benefit cost in the same line item as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if presented, or disclosed separately. In addition, only the service cost component may be eligible for capitalization where applicable. The amendments should be applied on a retrospective basis. ASU 2017-07 is effective for us beginning January 1, 2018, with early adoption permitted as of the beginning of a financial year. We currently plan to adopt the requirements of the new standard in the first quarter of 2018 and expect the adoption to impact only classification within our Consolidated Statement of Income. In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , which amends ASC 815. The purpose of this ASU is to better align accounting rules with a company’s risk management activities and financial reporting for hedging relationships, better reflect economic results of hedging in financial statements, simplify hedge accounting requirements and improve the disclosures of hedging arrangements. The amendment should be applied using the modified retrospective transition method. ASU 2017-12 is effective for annual periods beginning after December 15, 2018 and interim periods within those annual periods, with early adoption permitted. We currently plan to adopt the requirements of the new standard in the first quarter of 2018. We do not expect it to have a significant impact on our Consolidated Financial Statements. 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)	9 Months Ended
	Oct. 01, 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)	9 Months Ended
	Oct. 01, 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 nine months ended October 1, 2017 are as follows: North America International and Other Total Balance at December 31, 2016 $ 792,190 $ 20,154 $ 812,344 Foreign currency translation 8,401 1,603 10,004 Balance at October 1, 2017 800,591 21,757 822,348
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: October 1, 2017 December 31, 2016 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Intangible assets subject to amortization: Trademarks $ 272,599 $ (34,516 ) $ 317,023 $ (30,458 ) Customer-related 128,722 (33,069 ) 200,409 (36,482 ) Patents 17,059 (15,562 ) 16,426 (13,700 ) Total 418,380 (83,147 ) 533,858 (80,640 ) Intangible assets not subject to amortization: Trademarks 40,222 39,519 Total other intangible assets $ 375,455 $ 492,737

SHORT AND LONG-TERM DEBT (Table

SHORT AND LONG-TERM DEBT (Tables)	9 Months Ended
	Oct. 01, 2017
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt consisted of the following: December 31, October 1, 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 86,201 83,619 Net impact of interest rate swaps, debt issuance costs and unamortized debt discounts (10,327 ) (14,275 ) Total long-term debt 2,354,228 2,347,698 Less—current portion 300,096 243 Long-term portion $ 2,054,132 $ 2,347,455
Schedule Of Net Interest Expense	Net interest expense consisted of the following: Three Months Ended Nine Months Ended October 1, 2017 October 2, 2016 October 1, 2017 October 2, 2016 Interest expense $ 25,955 $ 25,882 $ 76,208 $ 72,404 Capitalized interest (1,033 ) (1,141 ) (2,892 ) (4,702 ) Interest expense 24,922 24,741 73,316 67,702 Interest income (333 ) (354 ) (860 ) (972 ) Interest expense, net $ 24,589 $ 24,387 $ 72,456 $ 66,730

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	9 Months Ended
	Oct. 01, 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 October 1, 2017 and December 31, 2016 : December 31, October 1, 2017 December 31, 2016 Assets (1) Liabilities (1) Assets (1) Liabilities (1) Derivatives designated as cash flow hedging instruments: Foreign exchange contracts $ 421 $ 4,216 $ 2,229 $ 809 Derivatives designated as fair value hedging instruments: Interest rate swap agreements 4,571 — 1,768 — Derivatives not designated as hedging instruments: Commodities futures and options (2) 6,222 295 2,348 10,000 Deferred compensation derivatives 994 — 717 — Foreign exchange contracts 14 — — 16 7,230 295 3,065 10,016 Total $ 12,222 $ 4,511 $ 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 October 1, 2017 , assets and liabilities include the net of assets of $38,963 and liabilities of $33,780 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 October 1, 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 October 1, 2017 and October 2, 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 $ (2,445 ) $ (37,246 ) $ — $ — $ (488 ) $ 7,780 Foreign exchange contracts 11 (27 ) (1,339 ) 1,628 869 (2,659 ) Interest rate swap agreements — — — (274 ) (2,343 ) (2,833 ) Deferred compensation derivatives 349 665 — — — — Total $ (2,085 ) $ (36,608 ) $ (1,339 ) $ 1,354 $ (1,962 ) $ 2,288 (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 effect of derivative instruments on the Consolidated Statements of Income for the nine months ended October 1, 2017 and October 2, 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 $ (40,500 ) $ (37,176 ) $ — $ — $ (1,325 ) $ 23,648 Foreign exchange contracts (40 ) (484 ) (3,545 ) (6,404 ) 1,087 (3,681 ) Interest rate swap agreements — — — (47,223 ) (7,136 ) (5,903 ) Deferred compensation derivatives 994 1,486 — — — — Total $ (39,546 ) $ (36,174 ) $ (3,545 ) $ (53,627 ) $ (7,374 ) $ 14,064 (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)	9 Months Ended
	Oct. 01, 2017
FAIR VALUE MEASUREMENTS [Abstract]
Schedule of assets and liabilities measured at fair value on recurring basis	The following table presents assets and liabilities that were measured at fair value in the Consolidated Balance Sheets on a recurring basis as of October 1, 2017 and December 31, 2016 : Level 1 Level 2 Level 3 Total October 1, 2017: Derivative Instruments: Assets: Foreign exchange contracts (1) $ — $ 435 $ — $ 435 Interest rate swap agreements (2) — 4,571 — 4,571 Deferred compensation derivatives (3) — 994 — 994 Commodities futures and options (4) 6,222 — — 6,222 Liabilities: Foreign exchange contracts (1) — 4,216 — 4,216 Commodities futures and options (4) 295 — — 295 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	The fair values and carrying values of long-term debt, including the current portion, were as follows: Fair Value Carrying Value October 1, 2017 December 31, 2016 October 1, 2017 December 31, 2016 Current portion of long-term debt $ 300,348 $ 243 $ 300,096 $ 243 Long-term debt 2,114,276 2,379,054 2,054,132 2,347,455 Total $ 2,414,624 $ 2,379,297 $ 2,354,228 $ 2,347,698

BUSINESS REALIGNMENT ACTIVITI32

BUSINESS REALIGNMENT ACTIVITIES (Tables)	9 Months Ended
	Oct. 01, 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 and nine months ended October 1, 2017 and October 2, 2016 as follows: Three Months Ended Nine Months Ended October 1, 2017 October 2, 2016 October 1, 2017 October 2, 2016 Cost of sales $ 213 $ 24,470 $ 6,475 $ 57,948 Selling, marketing and administrative expense 4,024 1,162 13,206 15,971 Business realignment costs 4,020 2,330 50,018 30,568 Costs associated with business realignment activities $ 8,257 $ 27,962 $ 69,699 $ 104,487 Costs recorded during the three and nine months ended October 1, 2017 and October 2, 2016 related to these activities are as follows: Three Months Ended Nine Months Ended October 1, 2017 October 2, 2016 October 1, 2017 October 2, 2016 Margin for Growth Program: Severance $ 2,876 $ — $ 33,331 $ — Accelerated depreciation — — 6,873 — Other program costs 5,013 — 16,216 — Operational Optimization Program: Accelerated depreciation and amortization — 24,470 — 57,948 Severance — 87 13,828 17,442 Other program costs 368 414 (549 ) 9,822 2015 Productivity Initiative: Pension settlement charge — — — 13,669 Severance — 2,243 — (543 ) Other program costs — 748 — 6,149 Total business realignment costs $ 8,257 $ 27,962 $ 69,699 $ 104,487
Summary of Business Realignment Activity	The following table presents the liability activity for costs qualifying as exit and disposal costs: Total Liability balance at December 31, 2016 $ 3,725 2017 business realignment charges (1) 61,253 Cash payments (23,742 ) Other, net (69 ) Liability balance at October 1, 2017 (reported within accrued and other long-term liabilities) $ 41,167 (1) The costs reflected in the liability roll-forward represents employee-related and third-party service provider charges. These costs 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.

PENSION AND OTHER POST-RETIRE33

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS (Tables)	9 Months Ended
	Oct. 01, 2017
Compensation and Retirement Disclosure [Abstract]
Summary of Components of Net Periodic Benefit Cost	The components of net periodic benefit cost for the third quarter were as follows: Pension Benefits Other Benefits Three Months Ended Three Months Ended October 1, 2017 October 2, 2016 October 1, 2017 October 2, 2016 Service cost $ 5,262 $ 5,794 $ 66 $ 75 Interest cost 10,320 10,130 2,214 2,435 Expected return on plan assets (14,390 ) (14,700 ) — — Amortization of prior service (credit) cost (1,455 ) (262 ) 187 144 Amortization of net loss 8,526 8,803 (1 ) (4 ) Settlement loss 17,043 3,147 — — Total net periodic benefit cost $ 25,306 $ 12,912 $ 2,466 $ 2,650 The components of net periodic benefit cost for the year-to-date periods were as follows: Pension Benefits Other Benefits Nine Months Ended Nine Months Ended October 1, 2017 October 2, 2016 October 1, 2017 October 2, 2016 Service cost $ 15,487 $ 17,377 $ 197 $ 224 Interest cost 30,819 31,914 6,626 7,300 Expected return on plan assets (43,088 ) (44,073 ) — — Amortization of prior service (credit) cost (4,366 ) (785 ) 560 432 Amortization of net loss (gain) 25,308 26,411 (1 ) (10 ) Settlement loss 17,043 20,085 — — Total net periodic benefit cost $ 41,203 $ 50,929 $ 7,382 $ 7,946

STOCK COMPENSATION PLANS (Table

STOCK COMPENSATION PLANS (Tables)	9 Months Ended
	Oct. 01, 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 Nine Months Ended October 1, 2017 October 2, 2016 October 1, 2017 October 2, 2016 Pre-tax compensation expense $ 13,409 $ 14,491 $ 37,966 $ 40,699 Related income tax benefit 4,076 4,406 11,124 13,186
Summary of Activity Relating to the Grants of Stock Options	A summary of activity relating to grants of stock options for the period ended October 1, 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 1,086,175 $ 108.05 Exercised (966,532 ) $ 69.95 Forfeited (219,456 ) $ 103.08 Outstanding as of October 1, 2017 6,092,195 $ 88.47 6.0 years $ 115,872 Options exercisable as of October 1, 2017 3,848,894 $ 80.96 4.5 years $ 101,692
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: Nine Months Ended October 1, 2017 October 2, 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 October 1, 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 441,634 $111.00 Performance assumption change 23,780 $101.40 Vested (242,011 ) $111.19 Forfeited (125,782 ) $107.73 Outstanding as of October 1, 2017 925,849 $102.36
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. Nine Months Ended October 1, 2017 October 2, 2016 Units granted 441,634 531,019 Weighted-average fair value at date of grant $ 111.00 $ 93.47 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)	9 Months Ended
	Oct. 01, 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 Nine Months Ended October 1, 2017 October 2, 2016 October 1, 2017 October 2, 2016 Net sales: North America $ 1,792,377 $ 1,764,528 $ 4,946,537 $ 4,842,840 International and Other 240,744 238,926 629,253 627,097 Total $ 2,033,121 $ 2,003,454 $ 5,575,790 $ 5,469,937 Segment income (loss): North America $ 554,578 $ 563,946 $ 1,568,098 $ 1,519,059 International and Other 16,400 4,284 26,491 (12,411 ) Total segment income 570,978 568,230 1,594,589 1,506,648 Unallocated corporate expense (1) 124,115 121,828 366,938 370,622 Unallocated mark-to-market (gains) losses on commodity derivatives (21,954 ) 35,791 (27,486 ) 30,851 Long-lived asset impairment charges — — 208,712 — Costs associated with business realignment activities 8,257 27,962 69,699 104,487 Non-service related pension expense 21,540 6,360 30,123 20,666 Acquisition and integration costs — 2,265 311 3,727 Operating profit 439,020 374,024 946,292 976,295 Interest expense, net 24,589 24,387 72,456 66,730 Other (income) expense, net 13,630 21,800 23,557 8,703 Income before income taxes $ 400,801 $ 327,837 $ 850,279 $ 900,862 (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	Activity within the unallocated mark-to-market (gains) losses on commodity derivatives is as follows: Three Months Ended Nine Months Ended October 1, 2017 October 2, 2016 October 1, 2017 October 2, 2016 Net losses on mark-to-market valuation of commodity derivative positions recognized in income $ 2,445 $ 37,246 $ 40,500 $ 37,176 Net losses on commodity derivative positions reclassified from unallocated to segment income (24,399 ) (1,455 ) (67,986 ) (6,325 ) Net (gains) losses on mark-to-market valuation of commodity derivative positions recognized in unallocated derivative (gains) losses $ (21,954 ) $ 35,791 $ (27,486 ) $ 30,851
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated	Depreciation and amortization expense included within segment income presented above is as follows: Three Months Ended Nine Months Ended October 1, 2017 October 2, 2016 October 1, 2017 October 2, 2016 North America $ 42,544 $ 41,592 $ 125,532 $ 120,378 International and Other 9,397 13,515 32,110 37,523 Corporate (1) 10,293 30,015 36,671 84,000 Total $ 62,234 $ 85,122 $ 194,313 $ 241,901 (1) Corporate includes non-cash asset-related accelerated depreciation and amortization related to business realignment activities, as discussed in Note 7. Such amounts are not included within our measure of segment income.

TREASURY STOCK ACTIVITY (Tables

TREASURY STOCK ACTIVITY (Tables)	9 Months Ended
	Oct. 01, 2017
Equity [Abstract]
Summary of Treasury Stock Activity	A summary of our treasury stock activity is as follows: Nine Months Ended October 1, 2017 Shares Dollars In thousands Shares repurchased in the open market under pre-approved share repurchase programs — $ — Milton Hershey School Trust repurchase 1,500,000 159,015 Shares repurchased to replace Treasury Stock issued for stock options and incentive compensation 1,278,675 141,297 Total share repurchases 2,778,675 300,312 Shares issued for stock options and incentive compensation (1,187,883 ) $ (49,426 ) Net change 1,590,792 $ 250,886

NONCONTROLLING INTEREST NONCO37

NONCONTROLLING INTEREST NONCONTROLLING INTEREST (Tables)	9 Months Ended
	Oct. 01, 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 Interest Balance, December 31, 2016 $ 41,831 Net loss attributable to noncontrolling interest (26,860 ) Other comprehensive income - foreign currency translation adjustments 735 Balance, October 1, 2017 $ 15,706

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Oct. 01, 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 October 1, 2017 October 2, 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) $ 99,588 $ 36,129 $ 94,498 $ 34,068 Allocation of undistributed earnings 100,892 36,694 72,691 26,146 Total earnings—basic $ 200,480 $ 72,823 $ 167,189 $ 60,214 Denominator (shares in thousands): Total weighted-average shares—basic 151,418 60,620 153,259 60,620 Earnings Per Share—basic $ 1.32 $ 1.20 $ 1.09 $ 0.99 Diluted earnings per share: Numerator: Allocation of total earnings used in basic computation $ 200,480 $ 72,823 $ 167,189 $ 60,214 Reallocation of total earnings as a result of conversion of Class B common stock to Common stock 72,823 — 60,214 — Reallocation of undistributed earnings — (239 ) — (160 ) Total earnings—diluted $ 273,303 $ 72,584 $ 227,403 $ 60,054 Denominator (shares in thousands): Number of shares used in basic computation 151,418 60,620 153,259 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 1,002 — 1,062 — Performance and restricted stock units 352 — 220 — Total weighted-average shares—diluted 213,392 60,620 215,161 60,620 Earnings Per Share—diluted $ 1.28 $ 1.20 $ 1.06 $ 0.99 The earnings per share calculations for the three months ended October 1, 2017 and October 2, 2016 excluded 2,374 and 2,921 , respectively, of stock options (in thousands) that would have been antidilutive. Nine Months Ended October 1, 2017 October 2, 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) $ 287,580 $ 104,265 $ 273,380 $ 98,326 Allocation of undistributed earnings 154,128 55,875 170,458 61,027 Total earnings—basic $ 441,708 $ 160,140 $ 443,838 $ 159,353 Denominator (shares in thousands): Total weighted-average shares—basic 152,004 60,620 153,943 60,620 Earnings Per Share—basic $ 2.91 $ 2.64 $ 2.88 $ 2.63 Diluted earnings per share: Numerator: Allocation of total earnings used in basic computation $ 441,708 $ 160,140 $ 443,838 $ 159,353 Reallocation of total earnings as a result of conversion of Class B common stock to Common stock 160,140 — 159,353 — Reallocation of undistributed earnings — (401 ) — (347 ) Total earnings—diluted $ 601,848 $ 159,739 $ 603,191 $ 159,006 Denominator (shares in thousands): Number of shares used in basic computation 152,004 60,620 153,943 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 1,165 — 1,013 — Performance and restricted stock units 334 — 182 — Total weighted-average shares—diluted 214,123 60,620 215,758 60,620 Earnings Per Share—diluted $ 2.81 $ 2.64 $ 2.80 $ 2.62

OTHER (INCOME) EXPENSE, NET O39

OTHER (INCOME) EXPENSE, NET OTHER (INCOME) EXPENSE, NET (Tables)	9 Months Ended
	Oct. 01, 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 Nine Months Ended October 1, 2017 October 2, 2016 October 1, 2017 October 2, 2016 Write-down of equity investments in partnerships qualifying for tax credits $ 13,736 $ 20,801 $ 23,999 $ 35,862 Settlement of SGM liability (see Note 2) — — — (26,650 ) Other (income) expense, net (106 ) 999 (442 ) (509 ) Total $ 13,630 $ 21,800 $ 23,557 $ 8,703

SUPPLEMENTAL BALANCE SHEET IN40

SUPPLEMENTAL BALANCE SHEET INFORMATION (Tables)	9 Months Ended
	Oct. 01, 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: October 1, 2017 December 31, 2016 Inventories: Raw materials $ 292,976 $ 315,239 Goods in process 102,292 88,490 Finished goods 724,754 528,587 Inventories at FIFO 1,120,022 932,316 Adjustment to LIFO (181,835 ) (186,638 ) Total inventories $ 938,187 $ 745,678 Property, plant and equipment: Land $ 108,173 $ 103,865 Buildings 1,200,194 1,238,634 Machinery and equipment 2,910,916 3,001,552 Construction in progress 191,805 230,987 Property, plant and equipment, gross 4,411,088 4,575,038 Accumulated depreciation (2,360,964 ) (2,397,790 ) Property, plant and equipment, net $ 2,050,124 $ 2,177,248 Other assets: Capitalized software, net $ 99,329 $ 95,301 Income tax receivable — 1,449 Other non-current assets 75,282 71,615 Total other assets $ 174,611 $ 168,365 Accrued liabilities: Payroll, compensation and benefits $ 181,167 $ 240,080 Advertising and promotion 320,788 358,573 Other 171,480 152,333 Total accrued liabilities $ 673,435 $ 750,986 Other long-term liabilities: Post-retirement benefits liabilities $ 213,986 $ 220,270 Pension benefits liabilities 67,681 65,687 Other 120,729 114,204 Total other long-term liabilities $ 402,396 $ 400,161 Accumulated other comprehensive loss: Foreign currency translation adjustments $ (83,470 ) $ (110,613 ) Pension and post-retirement benefit plans, net of tax (197,095 ) (207,169 ) Cash flow hedges, net of tax (56,462 ) (58,106 ) Total accumulated other comprehensive loss $ (337,027 ) $ (375,888 )

SUMMARY OF SIGNIFICANT ACCOUN41

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase in net cash flow from operating activities	$ 625,899	$ 450,760
Decrease in net cash flow from financing activities	465,719	(21,541)
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	7,927
Increase in net cash flow from operating activities	19,916	28,221
Decrease in net cash flow from financing activities	$ 19,916	$ 28,221

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	Oct. 01, 2017	Dec. 31, 2016	Apr. 26, 2016
Business Acquisition [Line Items]
Goodwill	$ 822,348	$ 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	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016	Dec. 31, 2014
Business Acquisition [Line Items]
Payments to acquire businesses				$ 0	$ 35,762
Settlement of SGM liability				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	$ 26,650	$ 0	$ 0	$ 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	9 Months Ended
	Oct. 01, 2017USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 812,344
Goodwill, Foreign Currency Translation Gain (Loss)	10,004
Goodwill, ending balance	822,348
Operating Segments | North America
Goodwill [Roll Forward]
Goodwill, beginning balance	792,190
Goodwill, Foreign Currency Translation Gain (Loss)	8,401
Goodwill, ending balance	800,591
Operating Segments | International and Other
Goodwill [Roll Forward]
Goodwill, beginning balance	20,154
Goodwill, Foreign Currency Translation Gain (Loss)	1,603
Goodwill, ending balance	$ 21,757

GOODWILL AND INTANGIBLE ASSET46

GOODWILL AND INTANGIBLE ASSETS - CARRYING AMOUNTS AND ACCUMULATED AMORTIZATION (Details) - USD ($) $ in Thousands	Oct. 01, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 418,380	$ 533,858
Finite-lived intangible assets, accumulated amortization	(83,147)	(80,640)
Total other intangible assets	375,455	492,737
Trademarks
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets, excluding goodwill	40,222	39,519
Trademarks
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	272,599	317,023
Finite-lived intangible assets, accumulated amortization	(34,516)	(30,458)
Customer-related
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	128,722	200,409
Finite-lived intangible assets, accumulated amortization	(33,069)	(36,482)
Patents
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	17,059	16,426
Finite-lived intangible assets, accumulated amortization	$ (15,562)	$ (13,700)

GOODWILL AND INTANGIBLE ASSET47

GOODWILL AND INTANGIBLE ASSETS - NARRATIVE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016
Goodwill [Line Items]
Amortization expense	$ 5,410	$ 7,666	$ 17,968	$ 18,811
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 ($)	Oct. 01, 2017	Dec. 31, 2016
Line of Credit Facility [Line Items]
Short-term debt	$ 815,588,000	$ 632,471,000
Commercial Paper
Line of Credit Facility [Line Items]
Short-term debt	$ 640,309,000	$ 473,666,000
Short-term debt, weighted average interest rate	1.20%	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	175,279,000	$ 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	Oct. 01, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Total long-term debt	$ 2,354,228	$ 2,347,698
Net impact of interest rate swaps, debt issuance costs and unamortized debt discounts	(10,327)	(14,275)
Less—current portion	300,096	243
Long-term portion	2,054,132	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 | 2.30% Notes 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 | 3.375% Notes due 2046
Debt Instrument [Line Items]
Total long-term debt	300,000	300,000
Lease Obligations
Debt Instrument [Line Items]
Total long-term debt	$ 86,201	$ 83,619

SHORT AND LONG-TERM DEBT - LONG

SHORT AND LONG-TERM DEBT - LONG TERM DEBT INTEREST RATES (Details) - Corporate Debt Securities	Oct. 01, 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%
2.30% Notes 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%
3.375% Notes 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		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016
Debt Disclosure [Abstract]
Interest expense	$ 25,955	$ 25,882	$ 76,208	$ 72,404
Interest Costs Capitalized Adjustment	(1,033)	(1,141)	(2,892)	(4,702)
Interest expense	24,922	24,741	73,316	67,702
Interest income	(333)	(354)	(860)	(972)
Interest expense, net	$ 24,589	$ 24,387	$ 72,456	$ 66,730

DERIVATIVE INSTRUMENTS - NARRAT

DERIVATIVE INSTRUMENTS - NARRATIVE (Details) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016	Dec. 31, 2016
Derivative [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months			$ 13,299,000
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	$ 408,983		$ 408,983		$ 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	107,507,000		$ 107,507,000		68,263,000
Foreign exchange contracts | Non-designated Hedges
Derivative [Line Items]
Derivative, notional amount	2,791,000		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		350,000,000
Deferred compensation derivatives
Derivative [Line Items]
Derivative, notional amount	24,164,000		$ 24,164,000		$ 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	$ 573,000	$ 1,022,000	$ 2,203,000	$ 3,477,000

DERIVATIVE INSTRUMENTS - ASSETS

DERIVATIVE INSTRUMENTS - ASSETS AND LIABILITIES MEASURED AT FAIR VALUE (Details) - USD ($) $ in Thousands	Oct. 01, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Derivative asset	$ 12,222	$ 7,062
Derivative liability	4,511	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	38,963	140,885
Derivative liability, gross liabilities	33,780	150,872
Designated as Hedging Instrument | Cash Flow Hedges | Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Derivative asset	421	2,229
Derivative liability	4,216	809
Designated as Hedging Instrument | Fair Value Hedging | Interest rate swap agreements
Derivatives, Fair Value [Line Items]
Derivative asset	4,571	1,768
Derivative liability	0	0
Non-designated Hedges
Derivatives, Fair Value [Line Items]
Derivative asset	7,230	3,065
Derivative liability	295	10,016
Non-designated Hedges | Commodities futures and options
Derivatives, Fair Value [Line Items]
Derivative asset	6,222	2,348
Derivative liability	295	10,000
Non-designated Hedges | Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Derivative asset	14	0
Derivative liability	0	16
Non-designated Hedges | Deferred compensation derivatives
Derivatives, Fair Value [Line Items]
Derivative asset	994	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		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ (2,085)	$ (36,608)	$ (39,546)	$ (36,174)
Commodities futures and options
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(2,445)	(37,246)	(40,500)	(37,176)
Foreign exchange contracts
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	11	(27)	(40)	(484)
Interest rate swap agreements
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	0	0	0	0
Deferred compensation derivatives
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	349	665	994	1,486
Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Losses recognized in other comprehensive income (“OCI”) (effective portion)	(1,339)	1,354	(3,545)	(53,627)
Gains (losses) reclassified from accumulated OCI into income (effective portion)	(1,962)	2,288	(7,374)	14,064
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	0	0
Gains (losses) reclassified from accumulated OCI into income (effective portion)	(488)	7,780	(1,325)	23,648
Designated as Hedging Instrument | Cash Flow Hedges | Foreign exchange contracts
Derivative [Line Items]
Losses recognized in other comprehensive income (“OCI”) (effective portion)	(1,339)	1,628	(3,545)	(6,404)
Gains (losses) reclassified from accumulated OCI into income (effective portion)	869	(2,659)	1,087	(3,681)
Designated as Hedging Instrument | Cash Flow Hedges | Interest rate swap agreements
Derivative [Line Items]
Losses recognized in other comprehensive income (“OCI”) (effective portion)	0	(274)	0	(47,223)
Gains (losses) reclassified from accumulated OCI into income (effective portion)	(2,343)	(2,833)	(7,136)	(5,903)
Designated as Hedging Instrument | Cash Flow Hedges | Deferred compensation derivatives
Derivative [Line Items]
Losses recognized in other comprehensive income (“OCI”) (effective portion)	0	0	0	0
Gains (losses) reclassified from accumulated OCI into income (effective portion)	$ 0	$ 0	$ 0	$ 0

FAIR VALUE MEASUREMENTS - ASSET

FAIR VALUE MEASUREMENTS - ASSETS AND LIABILITIES MEASURED AT FAIR VALUE (Details) - USD ($) $ in Thousands	Oct. 01, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	$ 12,222	$ 7,062
Derivative liability	4,511	10,825
Fair Value, Measurements, Recurring | Foreign exchange contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	435	2,229
Derivative liability	4,216	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	435	2,229
Derivative liability	4,216	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	4,571	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	4,571	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	994	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	994	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	6,222	2,348
Derivative liability	295	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	6,222	2,348
Derivative liability	295	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	Oct. 01, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of long-term debt	$ 300,096	$ 243
Long-term portion	2,054,132	2,347,455
Long-term Debt	2,354,228	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	300,348	243
Current portion of long-term debt	300,096	243
Long-term Debt, Excluding Current Maturities, Fair Value	2,114,276	2,379,054
Long-term portion	2,054,132	2,347,455
Long-term Debt, Fair Value	2,414,624	2,379,297
Long-term Debt	$ 2,354,228	$ 2,347,698

FAIR VALUE MEASUREMENTS - NARRA

FAIR VALUE MEASUREMENTS - NARRATIVE (Details) - USD ($)	9 Months Ended
	Oct. 01, 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		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016
Restructuring Cost and Reserve [Line Items]
Business realignment charges	$ 8,257,000	$ 27,962,000	$ 69,699,000	$ 104,487,000
Cost of Sales
Restructuring Cost and Reserve [Line Items]
Business realignment charges	213,000	24,470,000	6,475,000	57,948,000
Selling, marketing and administrative
Restructuring Cost and Reserve [Line Items]
Business realignment charges	4,024,000	1,162,000	13,206,000	15,971,000
Business realignment charges
Restructuring Cost and Reserve [Line Items]
Business realignment charges	4,020,000	2,330,000	50,018,000	30,568,000
Operation Optimization Program
Restructuring Cost and Reserve [Line Items]
Business realignment charges	368,000		13,279,000
Severance | Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Business realignment charges	2,876,000	0	33,331,000	0
Severance | Operation Optimization Program
Restructuring Cost and Reserve [Line Items]
Business realignment charges	0	87,000	13,828,000	17,442,000
Severance | 2015 productivity initiative
Restructuring Cost and Reserve [Line Items]
Business realignment charges	0	2,243,000	0	(543,000)
Accelerated Depreciation and Amortization | Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Business realignment charges	0	0	6,873,000	0
Accelerated Depreciation and Amortization | Operation Optimization Program
Restructuring Cost and Reserve [Line Items]
Business realignment charges	0	24,470,000	0	57,948,000
Other program costs | Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Business realignment charges	5,013,000	0	16,216,000	0
Other program costs | Operation Optimization Program
Restructuring Cost and Reserve [Line Items]
Business realignment charges	368,000	414,000	(549,000)	9,822,000
Other program costs | 2015 productivity initiative
Restructuring Cost and Reserve [Line Items]
Business realignment charges	0	748,000	0	6,149,000
Pension Settlement Charge | 2015 productivity initiative
Restructuring Cost and Reserve [Line Items]
Business realignment charges	$ 0	$ 0	$ 0	$ 13,669,000

BUSINESS REALIGNMENT ACTIVITI59

BUSINESS REALIGNMENT ACTIVITIES - NARRATIVE (Details)	1 Months Ended	3 Months Ended			6 Months Ended	9 Months Ended
	Feb. 28, 2017USD ($)	Oct. 01, 2017USD ($)	Apr. 02, 2017USD ($)	Oct. 02, 2016USD ($)	Dec. 31, 2015employee	Oct. 01, 2017USD ($)	Oct. 02, 2016USD ($)	Dec. 31, 2016USD ($)
Restructuring Cost and Reserve [Line Items]
Long-lived asset impairment charges		$ 0		$ 0		$ 208,712,000	$ 0
Business realignment charges		8,257,000		27,962,000		69,699,000	104,487,000
Prepaid expenses and other		258,379,000				258,379,000		$ 192,752,000
Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Period of expected costs	3 years
Intangible asset impairment charges						105,992,000
Expected reduction in workforce percentage	15.00%
Long-lived asset impairment charges						208,712,000
Impairment of property, plant and equipment						102,720,000
Margin for Growth Program | Contract termination
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	$ 25,000,000
Margin for Growth Program | Severance
Restructuring Cost and Reserve [Line Items]
Business realignment charges		2,876,000		0		33,331,000	0
Margin for Growth Program | Other program costs
Restructuring Cost and Reserve [Line Items]
Business realignment charges		5,013,000		0		16,216,000	0
Margin for Growth Program | Accelerated Depreciation and Amortization
Restructuring Cost and Reserve [Line Items]
Business realignment charges		0		0		6,873,000	0
Operation Optimization Program
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost		9,000,000				$ 9,000,000
Period of expected costs						18 months
Business realignment charges		368,000				$ 13,279,000
Operation Optimization Program | Facility closing
Restructuring Cost and Reserve [Line Items]
Property, plant and equipment and land use rights			$ 20,303,000
Prepaid expenses and other		20,303,000				20,303,000
Operation Optimization Program | Severance
Restructuring Cost and Reserve [Line Items]
Business realignment charges		0		87,000		13,828,000	17,442,000
Operation Optimization Program | Other program costs
Restructuring Cost and Reserve [Line Items]
Business realignment charges		368,000		414,000		(549,000)	9,822,000
Operation Optimization Program | Accelerated Depreciation and Amortization
Restructuring Cost and Reserve [Line Items]
Business realignment charges		0		24,470,000		0	57,948,000
2015 productivity initiative
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected number of positions eliminated (employee) | employee					300
Incurred costs		125,031,000				125,031,000
2015 productivity initiative | Severance
Restructuring Cost and Reserve [Line Items]
Business realignment charges		0		2,243,000		0	(543,000)
2015 productivity initiative | Other program costs
Restructuring Cost and Reserve [Line Items]
Business realignment charges		0		748,000		0	6,149,000
2015 productivity initiative | Pension Settlement Charge
Restructuring Cost and Reserve [Line Items]
Business realignment charges		$ 0		$ 0		$ 0	$ 13,669,000
Minimum | Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	375,000,000
Intangible asset impairment charges	100,000,000
Cash portion of charges	175,000,000
Expected annual savings	150,000,000
Minimum | Margin for Growth Program | Facility closing
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	100,000,000
Minimum | Margin for Growth Program | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	80,000,000
Minimum | Margin for Growth Program | Other program costs
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	70,000,000
Maximum | Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	425,000,000
Intangible asset impairment charges	110,000,000
Cash portion of charges	200,000,000
Expected annual savings	175,000,000
Maximum | Margin for Growth Program | Facility closing
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	115,000,000
Maximum | Margin for Growth Program | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	100,000,000
Maximum | Margin for Growth Program | Other program costs
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	$ 75,000,000

BUSINESS REALIGNMENT ACTIVITI60

BUSINESS REALIGNMENT ACTIVITIES - REALIGMNMENT RESERVE ROLLFORWARD (Details) $ in Thousands	9 Months Ended
	Oct. 01, 2017USD ($)
Restructuring Reserve [Roll Forward]
Liability balance at December 31, 2016	$ 3,725
2017 business realignment charges (1)	61,253
Cash payments	(23,742)
Other, net	(69)
Liability balance at October 1, 2017 (reported within accrued and other long-term liabilities)	$ 41,167

INCOME TAXES - NARRATIVE (Detai

INCOME TAXES - NARRATIVE (Details) - USD ($) $ in Thousands	9 Months Ended
	Oct. 01, 2017	Oct. 02, 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	32.40%	33.00%
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	$ 7,191

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		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016
Pension Benefits
Amounts recognized in net periodic benefit cost
Service cost	$ 5,262	$ 5,794	$ 15,487	$ 17,377
Interest cost	10,320	10,130	30,819	31,914
Expected return on plan assets	(14,390)	(14,700)	(43,088)	(44,073)
Amortization of prior service (credit) cost	(1,455)	(262)	(4,366)	(785)
Amortization of net loss (gain)	8,526	8,803	25,308	26,411
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements	17,043	3,147	17,043	20,085
Total net periodic benefit cost	25,306	12,912	41,203	50,929
Other Benefits
Amounts recognized in net periodic benefit cost
Service cost	66	75	197	224
Interest cost	2,214	2,435	6,626	7,300
Expected return on plan assets	0	0	0	0
Amortization of prior service (credit) cost	187	144	560	432
Amortization of net loss (gain)	(1)	(4)	(1)	(10)
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements	0	0	0	0
Total net periodic benefit cost	$ 2,466	$ 2,650	$ 7,382	$ 7,946

PENSION AND OTHER POST-RETIRE63

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - NARRATIVE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate			3.44%		3.81%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets			5.80%
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	$ 31,512	$ 18,549	$ 36,497	$ 20,385
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	$ 6,922	$ 7,473	$ 21,386	$ 22,181

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		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Pre-tax compensation expense	$ 13,409	$ 14,491	$ 37,966	$ 40,699
Related income tax benefit	$ 4,076	$ 4,406	$ 11,124	$ 13,186

STOCK COMPENSATION PLANS - NARR

STOCK COMPENSATION PLANS - NARRATIVE (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Oct. 01, 2017	Oct. 02, 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	$ 71,908
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition	2 years 2 months
Intrinsic value of share-based liabilities paid, combined with the fair value of shares vested (in millions of dollars)	$ 26,097	$ 19,673
Deferred performance stock units, deferred restricted stock units, and directors' fees and accumulated dividend amounts representing deferred stock units outstanding	369,037
Employee stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average fair value of options granted (per share)	$ 15.77	$ 11.46
Intrinsic value of options exercised (in millions of dollars)	$ 38,845	$ 70,009
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 - STOC

STOCK COMPENSATION PLANS - STOCK OPTION ACTIVITY (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Oct. 01, 2017	Dec. 31, 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)	1,086,175
Exercised (shares)	(966,532)
Forfeited (shares)	(219,456)
Outstanding as of December 31, 2015 (shares)	6,092,195	6,192,008
Options exercisable as of December 31, 2015 (shares)	3,848,894
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)	108.05
Exercises (USD per share)	69.95
Forfeited (USD per share)	103.08
Outstanding (USD per share)	88.47	$ 82.67
Options exercisable (USD per share)	$ 80.96
Options outstanding, weighted-average remaining contractual term	6 years	6 years 2 months
Options exercisable, weighted aver remaining contractual term	4 years 6 months
Aggregate intrinsic value of options outstanding	$ 115,872
Aggregate intrinsic value of options exercisable	$ 101,692

STOCK COMPENSATION PLANS - FAIR

STOCK COMPENSATION PLANS - FAIR VALUE WEIGHTED-AVERAGE ASSUMPTIONS (Details)	9 Months Ended
	Oct. 01, 2017	Oct. 02, 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 units - $ / shares	9 Months Ended
	Oct. 01, 2017	Oct. 02, 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)	441,634	531,019
Performance assumption change (shares)	23,780
Vested (shares)	(242,011)
Forfeited (shares)	(125,782)
Outstanding at end of year (shares)	925,849
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	$ 93.47
Performance assumption change	101.40
Vested (USD per share)	111.19
Forfeited (USD per share)	107.73
Outstanding at end of year (USD per share)	$ 102.36

STOCK COMPENSATION PLANS - PSUs

STOCK COMPENSATION PLANS - PSUs AND RSUS FAIR VALUE WEIGHTED-AVERAGE ASSUMPTIONS (Details) - $ / shares	9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Jul. 03, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yields	2.40%	2.40%
Performance and restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (shares)	441,634	531,019
Weighted-average fair value at date of grant (USD per share)	$ 111	$ 93.47
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	9 Months Ended	12 Months Ended
	Oct. 01, 2017	Dec. 31, 2017
North America | Geographic Concentration Risk | Sales Revenue, Goods, Net
Revenue, Major Customer [Line Items]
Concentration Risk, Percentage	89.00%
Scenario, Forecast | Operating Segments | Commodities futures and options
Revenue, Major Customer [Line Items]
Derivative, Gain (Loss) on Derivative, Net		$ (93,814)
Cost of Sales | Commodities futures and options
Revenue, Major Customer [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ (135,538)

- SALES AND INCOME (Details)

- SALES AND INCOME (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016
Segment Reporting Information [Line Items]
Net Sales	$ 2,033,121	$ 2,003,454	$ 5,575,790	$ 5,469,937
Operating Income (Loss)	439,020	374,024	946,292	976,295
Long-lived asset impairment charges	0	0	208,712	0
Costs associated with business realignment activities	8,257	27,962	69,699	104,487
Interest expense, net	24,589	24,387	72,456	66,730
Other (income) expense, net	13,630	21,800	23,557	8,703
Income before income taxes	400,801	327,837	850,279	900,862
Segment Reconciling Items
Segment Reporting Information [Line Items]
Long-lived asset impairment charges	0	0	208,712	0
Costs associated with business realignment activities	8,257	27,962	69,699	104,487
Non-service related pension expense	21,540	6,360	30,123	20,666
Acquisition and integration costs	0	2,265	311	3,727
Operating Segments
Segment Reporting Information [Line Items]
Operating Income (Loss)	570,978	568,230	1,594,589	1,506,648
Operating Segments | North America
Segment Reporting Information [Line Items]
Net Sales	1,792,377	1,764,528	4,946,537	4,842,840
Operating Income (Loss)	554,578	563,946	1,568,098	1,519,059
Operating Segments | International and Other
Segment Reporting Information [Line Items]
Net Sales	240,744	238,926	629,253	627,097
Operating Income (Loss)	16,400	4,284	26,491	(12,411)
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Operating Income (Loss)	124,115	121,828	366,938	370,622
Commodities futures and options | Segment Reconciling Items
Segment Reporting Information [Line Items]
Unallocated mark-to-market (gains) losses on commodity derivatives	(21,954)	35,791	(27,486)	30,851
Commodities futures and options | Operating Segments
Segment Reporting Information [Line Items]
Unallocated mark-to-market (gains) losses on commodity derivatives	$ (24,399)	$ (1,455)	$ (67,986)	$ (6,325)

SEGMENT INFORMATION - SUMMARY O

SEGMENT INFORMATION - SUMMARY OF DERIVATIVE INFORMATION (Details) - Commodities futures and options - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016
Segment Reconciling Items
Segment Reporting Information [Line Items]
Net Mark To Market Valuation Of Certain Derivative Positions Recognized In Unallocated Derivative Gains Losses	$ (21,954)	$ 35,791	$ (27,486)	$ 30,851
Operating Segments
Segment Reporting Information [Line Items]
Net Mark To Market Valuation Of Certain Derivative Positions Recognized In Unallocated Derivative Gains Losses	(24,399)	(1,455)	(67,986)	(6,325)
Non-designated Hedges
Segment Reporting Information [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ (2,445)	$ (37,246)	$ (40,500)	$ (37,176)

- DEPRECIATION AND AMORTIZATION

- DEPRECIATION AND AMORTIZATION (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 62,234	$ 85,122	$ 194,313	$ 241,901
Operating Segments | North America
Segment Reporting Information [Line Items]
Depreciation and amortization	42,544	41,592	125,532	120,378
Operating Segments | International and Other
Segment Reporting Information [Line Items]
Depreciation and amortization	9,397	13,515	32,110	37,523
Corporate, Non-Segment | Corporate (1)
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 10,293	$ 30,015	$ 36,671	$ 84,000

TREASURY STOCK ACTIVITY - COMMO

TREASURY STOCK ACTIVITY - COMMON STOCK OUTSTANDING (Details) - USD ($)	1 Months Ended	9 Months Ended
	Aug. 31, 2017	Oct. 01, 2017
Class of Stock [Line Items]
Stock repurchased and retired during period (in shares)		0
Total share repurchases (in shares)		2,778,675
Net change (in shares)		1,590,792
Stock repurchased and retired during period		$ 0
Total share repurchases		300,312,000
Net change		$ 250,886,000
Hershey Trust Company
Class of Stock [Line Items]
Stock repurchased and retired during period (in shares)	1,500,000	1,500,000
Stock repurchased and retired during period	$ 159,015,000	$ 159,015,000
Employee stock options
Class of Stock [Line Items]
Stock repurchased and retired during period (in shares)		1,278,675
Shares issued for stock options and incentive compensation (in shares)		(1,187,883)
Stock repurchased and retired during period		$ 141,297,000
Shares issued for stock options and incentive compensation		$ (49,426,000)

TREASURY STOCK ACTIVITY - NARRA

TREASURY STOCK ACTIVITY - NARRATIVE (Details) - USD ($)	1 Months Ended	9 Months Ended
	Aug. 31, 2017	Oct. 01, 2017	Oct. 26, 2017	Jan. 31, 2016
Class of Stock [Line Items]
Stock repurchased and retired during period (in shares)		0
Total purchase price of stock repurchased		$ 0
2016 Share Repurchase Program
Class of Stock [Line Items]
Authorized stock repurchase amount				$ 500,000,000
Remaining authorized repurchase amount		$ 100,000,000
Hershey Trust Company
Class of Stock [Line Items]
Stock repurchased and retired during period (in shares)	1,500,000	1,500,000
Treasury stock acquired (in dollars per share)	$ 106.01
Total purchase price of stock repurchased	$ 159,015,000	$ 159,015,000
Subsequent Event | 2017 Share Repurchase Program [Member]
Class of Stock [Line Items]
Authorized stock repurchase amount			$ 100,000,000

NONCONTROLLING INTEREST NONCO76

NONCONTROLLING INTEREST NONCONTROLLING INTEREST (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016	Dec. 31, 2016
Noncontrolling Interest [Line Items]
Noncontrolling interest in subsidiary	$ 15,706		$ 15,706		$ 41,831
Net income (loss) attributable to noncontrolling interest	710	$ 0	(26,860)	$ 0
Noncontrolling Interest in Subsidiary
Noncontrolling Interest [Line Items]
Noncontrolling interest in subsidiary	$ 15,706		15,706		$ 41,831
Net income (loss) attributable to noncontrolling interest			(26,860)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Noncontrolling Interest			$ 735
Noncontrolling Interest in Subsidiary | Selling, marketing and administrative
Noncontrolling Interest [Line Items]
Net income (loss) attributable to noncontrolling interest				$ (798)
Lotte Shanghai Food Company | Noncontrolling Interest in Subsidiary
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	50.00%		50.00%

EARNINGS PER SHARE - NARRATIVE

EARNINGS PER SHARE - NARRATIVE (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 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)	2,374	2,921	2,374	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		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016
Common stock
Basic earnings per share:
Allocation of distributed earnings (cash dividends paid)	$ 99,588	$ 94,498	$ 287,580	$ 273,380
Allocation of undistributed earnings	100,892	72,691	154,128	170,458
Total earnings—basic	$ 200,480	$ 167,189	$ 441,708	$ 443,838
Total weighted-average shares—basic (shares)	151,418	153,259	152,004	153,943
Earnings Per Share—basic (USD per share)	$ 1.32	$ 1.09	$ 2.91	$ 2.88
Diluted earnings per share:
Allocation of total earnings used in basic computation	$ 200,480	$ 167,189	$ 441,708	$ 443,838
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock	72,823	60,214	160,140	159,353
Reallocation of undistributed earnings	0	0	0	0
Total earnings—diluted	$ 273,303	$ 227,403	$ 601,848	$ 603,191
Conversion of Class B common stock to Common shares outstanding	60,620	60,620	60,620	60,620
Total weighted-average shares—diluted (shares)	213,392	215,161	214,123	215,758
Earnings Per Share—diluted (USD per share)	$ 1.28	$ 1.06	$ 2.81	$ 2.80
Common stock | Employee stock options
Diluted earnings per share:
Incremental common shares attributable to dilutive effect of share-based payment arrangements	1,002	1,062	1,165	1,013
Common stock | Performance and restricted stock units
Diluted earnings per share:
Incremental common shares attributable to dilutive effect of share-based payment arrangements	352	220	334	182
Class B common stock
Basic earnings per share:
Allocation of distributed earnings (cash dividends paid)	$ 36,129	$ 34,068	$ 104,265	$ 98,326
Allocation of undistributed earnings	36,694	26,146	55,875	61,027
Total earnings—basic	$ 72,823	$ 60,214	$ 160,140	$ 159,353
Total weighted-average shares—basic (shares)	60,620	60,620	60,620	60,620
Earnings Per Share—basic (USD per share)	$ 1.20	$ 0.99	$ 2.64	$ 2.63
Diluted earnings per share:
Allocation of total earnings used in basic computation	$ 72,823	$ 60,214	$ 160,140	$ 159,353
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock	0	0	0	0
Reallocation of undistributed earnings	(239)	(160)	(401)	(347)
Total earnings—diluted	$ 72,584	$ 60,054	$ 159,739	$ 159,006
Conversion of Class B common stock to Common shares outstanding	0	0	0	0
Total weighted-average shares—diluted (shares)	60,620	60,620	60,620	60,620
Earnings Per Share—diluted (USD per share)	$ 1.20	$ 0.99	$ 2.64	$ 2.62
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	0	0
Class B common stock | Performance and restricted stock units
Diluted earnings per share:
Incremental common shares attributable to dilutive effect of share-based payment arrangements	0	0	0	0

OTHER (INCOME) EXPENSE, NET O79

OTHER (INCOME) EXPENSE, NET OTHER (INCOME) EXPENSE, NET (Details) - USD ($) $ in Thousands	Feb. 03, 2016	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 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		$ 13,736	$ 20,801	$ 23,999	$ 35,862
Settlement of SGM liability (see Note 2)				0	(26,650)
Other (income) expense, net		(106)	999	(442)	(509)
Total		13,630	21,800	23,557	8,703
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	$ 0	$ 0	$ (26,650)

SUPPLEMENTAL BALANCE SHEET IN80

SUPPLEMENTAL BALANCE SHEET INFORMATION (Details) - USD ($) $ in Thousands	Oct. 01, 2017	Dec. 31, 2016
Inventory, Net [Abstract]
Raw materials	$ 292,976	$ 315,239
Goods in process	102,292	88,490
Finished goods	724,754	528,587
Inventories at FIFO	1,120,022	932,316
Adjustment to LIFO	(181,835)	(186,638)
Total inventories	938,187	745,678
Property, Plant and Equipment [Abstract]
Land	108,173	103,865
Buildings	1,200,194	1,238,634
Machinery and equipment	2,910,916	3,001,552
Construction in progress	191,805	230,987
Property, plant and equipment, gross	4,411,088	4,575,038
Accumulated depreciation	(2,360,964)	(2,397,790)
Property, plant and equipment, net	2,050,124	2,177,248
Other Assets, Noncurrent [Abstract]
Capitalized software, net	99,329	95,301
Income tax receivable	0	1,449
Other non-current assets	75,282	71,615
Total other assets	174,611	168,365
Accrued Liabilities, Current [Abstract]
Payroll, compensation and benefits	181,167	240,080
Advertising and promotion	320,788	358,573
Other	171,480	152,333
Total accrued liabilities	673,435	750,986
Other Liabilities, Noncurrent [Abstract]
Post-retirement benefits liabilities	213,986	220,270
Pension benefits liabilities	67,681	65,687
Other	120,729	114,204
Total other long-term liabilities	402,396	400,161
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Foreign currency translation adjustments	(83,470)	(110,613)
Pension and post-retirement benefit plans, net of tax	(197,095)	(207,169)
Cash flow hedges, net of tax	(56,462)	(58,106)
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (337,027)	$ (375,888)