The Hershey Company (HSY) 10-Q 25 Apr 19 2019 Q1 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - USD ($)	3 Months Ended
	Mar. 31, 2019	Apr. 19, 2019	Jun. 29, 2018
Document Information [Line Items]
Entity registrant name	HERSHEY CO
Entity central index key	0000047111
Current fiscal year end date	--12-31
Entity filer category	Large Accelerated Filer
Document type	10-Q
Document period end date	Mar. 31, 2019
Document fiscal year focus	2019
Document fiscal period focus	Q1
Amendment flag	false
Entity current reporting status	Yes
Entity public float			$ 13,038,400,227
Entity Small Business	false
Entity Emerging Growth Company	false
Common stock
Document Information [Line Items]
Entity common stock, shares outstanding (shares)		148,185,733
Class B common stock
Document Information [Line Items]
Entity common stock, shares outstanding (shares)		60,613,777

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Net sales	$ 2,016,488	$ 1,971,959
Cost of sales	1,123,984	997,899
Gross profit	892,504	974,060
Selling, marketing and administrative expense	453,573	485,324
Business realignment costs	62	8,224
Operating profit	438,869	480,512
Interest expense, net	37,458	29,339
Other (income) expense, net	5,477	1,942
Income before income taxes	395,934	449,231
Provision for income taxes	92,053	98,512
Net income including noncontrolling interest	303,881	350,719
Net (loss) income attributable to noncontrolling interest	(477)	516
Net income attributable to The Hershey Company	$ 304,358	$ 350,203
Common stock
Net income per share—basic:
Net income per share - basic (USD per share)	$ 1.49	$ 1.71
Net income per share—diluted:
Net income per share - diluted (USD per share)	1.45	1.65
Dividends paid per share:
Dividends paid per share (USD per share)	0.722	0.656
Class B common stock
Net income per share—basic:
Net income per share - basic (USD per share)	1.36	1.55
Net income per share—diluted:
Net income per share - diluted (USD per share)	1.36	1.55
Dividends paid per share:
Dividends paid per share (USD per share)	$ 0.656	$ 0.596

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Statement of Comprehensive Income [Abstract]
Net income including noncontrolling interest	$ 303,881	$ 350,719
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, pre-tax amount	3,428	(1,267)
Foreign currency translation adjustments, tax (expense) benefit	0	0
Foreign currency translation adjustments, after-tax amount	3,428	(1,267)
Pension and post-retirement benefit plans:
Tax cuts and jobs act, reclassification from aoci to retained earnings, pre tax effect, pension and post-retirement benefit plans	0	0
Tax cuts and jobs act, reclassification from aoci to retained earnings, tax effect, pension and post-retirement benefit plans	0	(36,535)
Tax cuts and jobs act, reclassification from aoci to retained earnings, after tax pension and post-retirement benefit plans	0	(36,535)
Reclassification to earnings, pre-tax amount	6,718	5,097
Reclassification to earnings, tax (expense) benefit	(1,807)	(1,025)
Reclassification to earnings, after-tax amount	4,911	4,072
Cash flow hedges:
Gains (losses) recognized in other comprehensive income (“OCI”)	(789)	4,245
Gains (losses) on cash flow hedging derivatives, tax (expense) benefit	718	(990)
Gains (losses) on cash flow hedging derivatives, after-tax amount	(71)	3,255
Tax cuts and jobs act, reclassification from aoci to retained earnings, pre tax effect, cash flow hedges	0	0
Tax cuts and jobs act, reclassification from aoci to retained earnings, tax effect, cash flow hedges	0	(11,121)
Tax cuts and jobs act, reclassification from aoci to retained earnings, after tax, cash flow hedges	0	(11,121)
Reclassification to earnings, pre-tax amount	1,438	2,260
Reclassification to earnings, tax (expense) benefit	(891)	(609)
Reclassification to earnings, after-tax amount	547	1,651
Total other comprehensive income (loss), pre-tax amount	10,795	10,335
Total other comprehensive income (loss), tax (expense) benefit	(1,980)	(50,280)
Total other comprehensive income (loss), after-tax amount	8,815	(39,945)
Total comprehensive income including noncontrolling interest	312,696	310,774
Comprehensive income attributable to noncontrolling interest	78	1,300
Comprehensive income attributable to The Hershey Company	$ 312,618	$ 309,474

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 465,965	$ 587,998
Accounts receivable—trade, net	694,136	594,145
Inventories	791,289	784,879
Prepaid expenses and other	265,539	272,159
Total current assets	2,216,929	2,239,181
Property, plant and equipment, net	2,108,075	2,130,294
Goodwill	1,803,601	1,801,103
Other intangibles	1,267,833	1,278,292
Other assets	459,754	252,984
Deferred income taxes	1,184	1,166
Total assets	7,857,376	7,703,020
Current liabilities:
Accounts payable	500,633	502,314
Accrued liabilities	650,657	679,163
Accrued income taxes	74,562	33,773
Short-term debt	1,168,780	1,197,929
Current portion of long-term debt	3,553	5,387
Total current liabilities	2,398,185	2,418,566
Long-term debt	3,236,317	3,254,280
Other long-term liabilities	618,133	446,048
Deferred income taxes	181,381	176,860
Total liabilities	6,434,016	6,295,754
Stockholders’ equity:
Preferred stock, shares issued: none in 2019 and 2018	0	0
Additional paid-in capital	996,181	982,205
Retained earnings	7,193,240	7,032,020
Treasury—common stock shares, at cost: 151,275,897 at March 31, 2019 and 150,172,840 at December 31, 2018	(6,786,065)	(6,618,625)
Accumulated other comprehensive loss	(348,520)	(356,780)
Total—The Hershey Company stockholders’ equity	1,414,737	1,398,721
Noncontrolling interest in subsidiary	8,623	8,545
Total stockholders’ equity	1,423,360	1,407,266
Total liabilities and stockholders’ equity	7,857,376	7,703,020
Common stock
Stockholders’ equity:
Common stock	299,287	299,287
Class B common stock
Stockholders’ equity:
Common stock	$ 60,614	$ 60,614

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Mar. 31, 2019	Dec. 31, 2018
Preferred stock, shares issued (shares)	0	0
Treasury stock, shares (shares)	151,275,897	150,172,840
Common stock
Common stock, shares issued (shares)	299,287,967	299,287,967
Class B common stock
Common stock, shares issued (shares)	60,613,777	60,613,777

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Statement of Cash Flows [Abstract]
Net income including noncontrolling interest	$ 303,881	$ 350,719
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	72,329	74,416
Stock-based compensation expense	10,556	10,458
Deferred income taxes	1,300	2,521
Write-down of equity investments	1,152	434
Other	8,497	9,055
Changes in assets and liabilities, net of business acquisitions and divestitures:
Accounts receivable—trade, net	(99,991)	(9,882)
Inventories	(6,410)	(11,266)
Prepaid expenses and other current assets	(8,740)	7,309
Accounts payable and accrued liabilities	(2,798)	(146,623)
Accrued income taxes	56,282	82,231
Contributions to pension and other benefit plans	(4,661)	(7,449)
Other assets and liabilities	(1,437)	(9,866)
Net cash provided by operating activities	329,960	352,057
Investing Activities
Capital additions (including software)	(92,814)	(60,133)
Proceeds from sales of property, plant and equipment and other long-lived assets	75	112
Equity investments in tax credit qualifying partnerships	(18,884)	(6,281)
Business acquisitions, net of cash and cash equivalents acquired	0	(915,457)
Net cash used in investing activities	(111,623)	(981,759)
Financing Activities
Net (decrease) increase in short-term debt	(28,990)	1,686,816
Long-term borrowings	1,370	0
Repayment of long-term debt and finance leases	(3,135)	(607,922)
Repayment of tax receivable obligation	0	(42,500)
Cash dividends paid	(146,463)	(134,300)
Repurchase of common stock	(198,500)	(178,073)
Exercise of stock options	34,573	1,884
Net cash (used in) provided by financing activities	(341,145)	725,905
Effect of exchange rate changes on cash and cash equivalents	775	52
(Decrease) Increase in cash and cash equivalents	(122,033)	96,255
Cash and cash equivalents, beginning of period	587,998	380,179
Cash and cash equivalents, end of period	465,965	476,434
Supplemental Disclosure
Interest paid	35,271	38,323
Income taxes paid	$ 28,733	$ 12,817

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common stock	Class B common stock	Preferred Stock	Common StockCommon stock	Common StockClass B common stock	Additional Paid-in Capital	Retained Earnings	Retained EarningsCommon stock	Retained EarningsClass B common stock	Treasury Common Stock	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests in Subsidiaries
Beginning balance, stockholders' equity at Dec. 31, 2017	$ 931,565			$ 0	$ 299,281	$ 60,620	$ 924,978	$ 6,371,082			$ (6,426,877)	$ (313,746)	$ 16,227
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to The Hershey Company	350,203							350,203
Net (loss) income attributable to noncontrolling interest	516
Net income including noncontrolling interest	350,719
Other comprehensive income (loss)	7,711											6,927	784
Dividends (including dividend equivalents):
Common Stock		$ (98,495)	$ (36,130)						$ (98,495)	$ (36,130)
Stock-based compensation	10,474						10,474
Exercise of stock options and incentive-based transactions	1,884						(9,487)				11,371
Repurchase of common stock	(178,073)										(178,073)
Tax cuts and jobs act, reclassification from aoci to retained earnings, tax effect								47,656				(47,656)
Ending balance, stockholders' equity at Apr. 01, 2018	989,655			0	299,281	60,620	925,965	6,634,316			(6,593,579)	(354,475)	17,527
Beginning balance, stockholders' equity at Dec. 31, 2018	1,407,266			0	299,287	60,614	982,205	7,032,020			(6,618,625)	(356,780)	8,545
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to The Hershey Company	304,358							304,358
Net (loss) income attributable to noncontrolling interest	(477)												(477)
Net income including noncontrolling interest	303,881
Other comprehensive income (loss)	8,815											8,260	555
Dividends (including dividend equivalents):
Common Stock		$ (107,288)	$ (39,763)						$ (107,288)	$ (39,763)
Stock-based compensation	10,463						10,463
Exercise of stock options and incentive-based transactions	34,573						3,513				31,060
Repurchase of common stock	(198,500)										(198,500)
Ending balance, stockholders' equity at Mar. 31, 2019	1,423,360			$ 0	$ 299,287	$ 60,614	$ 996,181	7,193,240			$ (6,786,065)	$ (348,520)	$ 8,623
Dividends (including dividend equivalents):
Cumulative effect of new accounting principle in period of adoption | Accounting Standards Update 2016-02	$ 3,913							$ 3,913

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Common stock
Dividends paid per share (USD per share)	$ 0.722	$ 0.656
Class B common stock
Dividends paid per share (USD per share)	$ 0.656	$ 0.596

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 may not be indicative of the results that may be expected for the year ending December 31, 2019 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, 2018 (our “ 2018 Annual Report on Form 10-K”), which provides a more complete understanding of our accounting policies, financial position, operating results and other matters. Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-02, Leases (Topic 842) . This ASU requires lessees to recognize most leases on their balance sheets as lease liabilities with corresponding right-of-use ("ROU") assets. The Company adopted the standard as of January 1, 2019, using a modified retrospective approach and applying the standard’s transition provisions at January 1, 2019, the effective date. We elected the package of practical expedients permitted under the transition guidance, which among other things, allows us to carryforward the historical lease classification. In addition, we made accounting policy elections to combine the lease and non-lease components for asset categories that support selling, marketing and general administrative activities. These asset categories comprise the majority of our leases. Finally, we made elections to exclude from balance sheet reporting those leases with initial terms of 12 months or less. Adoption of the new standard resulted in the recording of operating lease ROU assets and lease liabilities of $227,258 and $216,966 , respectively, with the difference largely due to prepaid and deferred rent that were reclassified to the ROU asset value. In addition, we derecognized a build-to-suit arrangement in accordance with the transition requirements, which resulted in an adjustment to retained earnings of $3,913 . The standard did not materially affect our consolidated net income or cash flows. See Note 7 for further details. 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. We adopted the provisions of this ASU in the first quarter of 2019 using a modified retrospective approach. Adoption of the new standard did not have a material impact on our consolidated financial statements. In June 2018, the FASB issued ASU No. 2018-07, Compensation – Stock Compensation (Topic 718), Improvements to Nonemployee Share-Based Payment Accounting. This ASU is intended to simplify aspects of share-based compensation issued to non-employees by making the guidance consistent with accounting for employee share-based compensation. We adopted the provisions of this ASU in the first quarter of 2019. Adoption of the new standard did not have a material impact on our consolidated financial statements. In February 2018, the FASB issued ASU No. 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . This ASU permits a company to reclassify the income tax effects of the 2017 Tax Cuts and Jobs Act (“U.S. tax reform”) on items within AOCI to retained earnings. We adopted the provisions of this ASU in the first quarter of 2018. We elected to reclassify the income tax effects of U.S. tax reform from items in AOCI as of January 1, 2018 so that the tax effects of items within AOCI are reflected at the appropriate tax rate. The impact of the reclassification resulted in a $47,656 decrease to AOCI and a corresponding increase to retained earnings. Recently Issued Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . This ASU modifies the measurement of expected credit losses of certain financial instruments. ASU 2016-13 is effective for annual periods beginning after December 15, 2019 and interim periods within those annual periods. The amendments in this ASU should be applied on a modified retrospective basis to all periods presented. We are currently evaluating the effect that ASU 2016-13 will have on our consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820), Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement . This ASU modifies the disclosure requirements for fair value measurements by removing, modifying or adding certain disclosures. ASU 2018-13 is effective for annual periods beginning after December 15, 2019 and interim periods within those annual periods, with early adoption permitted. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. We are currently evaluating the effect that ASU 2018-13 will have on our consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU No. 2018-14, Compensation—Retirement Benefits—Defined Benefit Plans—General (Topic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans , which modifies the disclosure requirements for defined benefit pension plans and other post-retirement plans. ASU 2018-14 is effective for annual periods beginning after December 15, 2020, with early adoption permitted. The amendments in this ASU should be applied on a retrospective basis to all periods presented. We are currently evaluating the effect that ASU 2018-14 will have on our consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40), Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract . This ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). ASU 2018-15 is effective for annual periods beginning after December 15, 2019 and interim periods within those annual periods, with early adoption permitted. The amendments in this ASU should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. We are currently evaluating the effect that ASU 2018-15 will have on our consolidated financial statements and related disclosures.

BUSINESS ACQUISITIONS

BUSINESS ACQUISITIONS	3 Months Ended
	Mar. 31, 2019
Business Combinations [Abstract]
Business Acquisitions	BUSINESS ACQUISITIONS 2018 Activity Pirate Brands On October 17, 2018, we completed the acquisition of Pirate Brands, which includes the Pirate's Booty , Smart Puffs and Original Tings brands, from B&G Foods, Inc. Pirate Brands offers baked, trans fat free and gluten free snacks and is available in a wide range of food distribution channels in the United States. The purchase consideration for Pirate Brands totaled $423,002 and consisted of short-term borrowings and cash on hand. Acquisition-related costs for the Pirate Brands acquisition were immaterial. The acquisition has been accounted for as a purchase and, accordingly, Pirate Brands' results of operations have been included within the North America segment results in our consolidated financial statements since the date of acquisition. The purchase price allocation presented below has been finalized as of the end of the fourth quarter of 2018. The purchase consideration was allocated to assets acquired and liabilities assumed based on their respective fair values as follows: Inventories $ 4,663 Plant, property and equipment, net 48 Goodwill 129,991 Other intangible assets 289,300 Accrued liabilities (1,000 ) Net assets acquired $ 423,002 Goodwill was determined as the excess of the purchase price over the fair value of the net assets acquired (including the identifiable intangible assets). The goodwill derived from this acquisition is expected to be deductible for tax purposes and reflects the value of leveraging the Company's resources to expand the distribution locations and customer base for the Pirate Brands' products. Other intangible assets includes trademarks valued at $272,000 and customer relationships valued at $17,300 . Trademarks were assigned estimated useful lives of 45 years and customer relationships were assigned estimated useful lives ranging from 16 to 18 years. Amplify Snack Brands, Inc. On January 31, 2018, we completed the acquisition of all of the outstanding shares of Amplify Snack Brands, Inc. (“Amplify”), previously a publicly traded company based in Austin, Texas that owns several popular better-for-you snack brands such as SkinnyPop , Oatmega and Paqui . Amplify's anchor brand, SkinnyPop , is a market-leading ready-to-eat popcorn brand and is available in a wide range of food distribution channels in the United States. Total consideration of $968,781 included payment of $12.00 per share for Amplify's outstanding common stock (for a total of $907,766 ), as well as payment of Amplify's transaction related expenses, including accelerated equity compensation, consultant fees and other deal costs. The business enables us to capture more consumer snacking occasions by contributing a new portfolio of brands. The acquisition has been accounted for as a purchase and, accordingly, Amplify's results of operations have been included within the North America segment results in our consolidated financial statements since the date of acquisition. The purchase price allocation presented below has been finalized as of the end of the fourth quarter of 2018. The purchase consideration, net of cash acquired totaling $53,324 , was allocated to assets acquired and liabilities assumed based on their respective fair values as follows: Accounts receivable $ 40,763 Other current assets 34,593 Plant, property and equipment, net 67,989 Goodwill 966,389 Other intangible assets 682,000 Other non-current assets 1,049 Accounts payable (32,394 ) Accrued liabilities (132,519 ) Current debt (610,844 ) Other current liabilities (2,931 ) Non-current deferred income taxes (93,489 ) Non-current liabilities (5,149 ) Net assets acquired $ 915,457 In connection with the acquisition, the Company agreed to pay in full all outstanding debt owed by Amplify under its existing credit agreement as of January 31, 2018, as well as the amount due under Amplify's existing tax receivable obligation. The Company funded the acquisition and repayment of the acquired debt utilizing proceeds from the issuance of commercial paper. Goodwill was determined as the excess of the purchase price over the fair value of the net assets acquired (including the identifiable intangible assets) and is not expected to be deductible for tax purposes. The goodwill that resulted from the acquisition is attributable primarily to cost-reduction synergies as Amplify leverages Hershey's resources, expertise and capability-building. Other intangible assets includes trademarks valued at $648,000 and customer relationships valued at $34,000 . Trademarks were assigned estimated useful lives ranging from 28 to 38 years and customer relationships were assigned estimated useful lives ranging from 14 to 18 years. The Company incurred acquisition-related costs of $20,577

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	GOODWILL AND INTANGIBLE ASSETS The changes in the carrying value of goodwill by reportable segment for the three months ended March 31, 2019 are as follows: North America International and Other Total Balance at December 31, 2018 1,782,845 18,258 1,801,103 Foreign currency translation 2,286 212 2,498 Balance at March 31, 2019 $ 1,785,131 $ 18,470 $ 1,803,601 The following table provides the gross carrying amount and accumulated amortization for each major class of intangible asset: March 31, 2019 December 31, 2018 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Intangible assets subject to amortization: Trademarks $ 1,174,817 $ (70,271 ) $ 1,173,770 $ (60,995 ) Customer-related 164,606 (36,485 ) 163,860 (33,516 ) Patents 16,478 (16,027 ) 16,306 (15,772 ) Total 1,355,901 (122,783 ) 1,353,936 (110,283 ) Intangible assets not subject to amortization: Trademarks 34,715 34,639 Total other intangible assets $ 1,267,833 $ 1,278,292 Total amortization expense for the three months ended March 31, 2019 and April 1, 2018 was $12,238 and $8,451

SHORT AND LONG-TERM DEBT

SHORT AND LONG-TERM DEBT	3 Months Ended
	Mar. 31, 2019
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 $1.4 billion unsecured revolving credit facility, which currently expires in November 2020. The credit agreement contains certain financial and other covenants, customary representations, warranties and events of default. As of March 31, 2019 , 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 2018 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 $125,226 at March 31, 2019 and $113,189 at December 31, 2018 . Commitment fees relating to our revolving credit facility and lines of credit are not material. At March 31, 2019 , we had outstanding commercial paper totaling $1,043,554 , at a weighted average interest rate of 2.5% . At December 31, 2018 , we had outstanding commercial paper totaling $1,084,740 , at a weighted average interest rate of 2.4% . Long-term Debt Long-term debt consisted of the following: March 31, 2019 December 31, 2018 2.90% Notes due 2020 $ 350,000 $ 350,000 4.125% Notes due 2020 350,000 350,000 3.10% Notes due 2021 350,000 350,000 8.8% Debentures due 2021 84,715 84,715 3.375% Notes due 2023 500,000 500,000 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 Finance lease liabilities 78,185 101,980 Net impact of interest rate swaps, debt issuance costs and unamortized debt discounts (16,669 ) (20,667 ) Total long-term debt 3,239,870 3,259,667 Less—current portion 3,553 5,387 Long-term portion $ 3,236,317 $ 3,254,280 Interest Expense Net interest expense consists of the following: Three Months Ended March 31, 2019 April 1, 2018 Interest expense $ 40,663 $ 32,853 Capitalized interest (1,257 ) (1,299 ) Interest expense 39,406 31,554 Interest income (1,948 ) (2,215 ) Interest expense, net $ 37,458 $ 29,339

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	3 Months Ended
	Mar. 31, 2019
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 to manage foreign currency exchange rate risk, and commodities futures and options contracts to manage commodity market price risk exposures. In entering into these contracts, we have assumed the risk that might arise from the possible inability of counterparties to meet the terms of their contracts. We mitigate this risk by entering into exchanged-traded contracts with collateral posting requirements and/or by performing financial assessments prior to contract execution, conducting periodic evaluations of counterparty performance and maintaining a diverse portfolio of qualified counterparties. We do not expect any significant losses from counterparty defaults. Commodity Price Risk We enter into commodities futures and options contracts and other commodity derivative instruments to reduce the effect of future price fluctuations associated with the purchase of raw materials, energy requirements and transportation services. We generally hedge commodity price risks for 3 - to 24 -month periods. Our open commodity derivative contracts had a notional value of $1,166,051 as of March 31, 2019 and $693,463 as of December 31, 2018 . 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 13, 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, British pound, 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 $66,330 at March 31, 2019 and $29,458 at December 31, 2018 . 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 $7,933 at March 31, 2019 and $11,072 at December 31, 2018 . 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. We had one interest rate derivative instrument in a fair value hedging relationship with a notional amount of $350,000 at March 31, 2019 and December 31, 2018 . 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 March 31, 2019 and December 31, 2018 was $23,501 and $33,168 , respectively. The following table presents the classification of derivative assets and liabilities within the Consolidated Balance Sheets as of March 31, 2019 and December 31, 2018 : March 31, 2019 December 31, 2018 Assets (1) Liabilities (1) Assets (1) Liabilities (1) Derivatives designated as cash flow hedging instruments: Foreign exchange contracts $ 2,065 $ 786 $ 3,394 $ 485 Derivatives designated as fair value hedging instruments: Interest rate swap agreements 504 — — 4,832 Derivatives not designated as hedging instruments: Commodities futures and options (2) 5,862 552 7,230 262 Deferred compensation derivatives 3,043 — — 4,736 Foreign exchange contracts 44 169 70 484 8,949 721 7,300 5,482 Total $ 11,518 $ 1,507 $ 10,694 $ 10,799 (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 March 31, 2019 , amounts reflected on a net basis in assets were assets of $94,078 and liabilities of $89,233 , which are 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 assets at December 31, 2018 were assets of $63,978 and liabilities of $57,351 . At March 31, 2019 and December 31, 2018 , the remaining amount reflected in assets and liabilities related 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 March 31, 2019 and April 1, 2018 was as follows: Non-designated Hedges Cash Flow Hedges Gains (losses) recognized in income (a) Gains (losses) recognized in other comprehensive income (“OCI”) Gains (losses) reclassified from accumulated OCI into income (b) 2019 2018 2019 2018 2019 2018 Commodities futures and options $ (26,641 ) $ 66,590 $ — $ — $ — $ — Foreign exchange contracts 215 (152 ) (789 ) 4,245 931 136 Interest rate swap agreements — — — — (2,369 ) (2,396 ) Deferred compensation derivatives 3,043 (393 ) — — — — Total $ (23,383 ) $ 66,045 $ (789 ) $ 4,245 $ (1,438 ) $ (2,260 ) (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 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 and foreign currency forward exchange contracts expected to be reclassified into earnings in the next 12 months was approximately $8,287 as of March 31, 2019 . This amount is primarily associated with interest rate swap agreements. Fair Value Hedging Relationships The following table presents amounts that were recorded on the balance sheet related to cumulative basis adjustments for interest rate swap derivatives designated as fair value accounting hedges as of March 31, 2019 and December 31, 2018 . Line Item in the Consolidated Balance Sheet in Which the Hedged Item is Included Carrying Amount of the Hedged Asset/(Liability) Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount Assets/(Liabilities) March 31, 2019 December 31, 2018 March 31, 2019 December 31, 2018 Long-term debt $ (349,496 ) $ (354,832 ) $ 504 $ (4,832 ) For the three months ended March 31, 2019 and April 1, 2018 , we recognized net incremental interest expense of $630 and a net pretax benefit to interest expense of $278

FAIR VALUE MEASUREMENTS FAIR VA

FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2019
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 Sheet on a recurring basis as of March 31, 2019 and December 31, 2018 : Assets (Liabilities) Level 1 Level 2 Level 3 Total March 31, 2019: Derivative Instruments: Assets: Foreign exchange contracts (1) $ — $ 2,109 $ — $ 2,109 Interest rate swap agreements (2) — 504 — 504 Deferred compensation derivatives (3) — 3,043 — 3,043 Commodities futures and options (4) 5,862 — — 5,862 Liabilities: Foreign exchange contracts (1) — 955 — 955 Commodities futures and options (4) 552 — — 552 December 31, 2018: Assets: Foreign exchange contracts (1) $ — $ 3,464 $ — $ 3,464 Commodities futures and options (4) 7,230 — — 7,230 Liabilities: Foreign exchange contracts (1) — 969 — 969 Interest rate swap agreements (2) — 4,832 — 4,832 Deferred compensation derivatives (3) — 4,736 — 4,736 Commodities futures and options (4) 262 — — 262 (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, accounts receivable, accounts payable and short-term debt approximated fair values as of March 31, 2019 and December 31, 2018 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 March 31, 2019 December 31, 2018 March 31, 2019 December 31, 2018 Current portion of long-term debt $ 3,553 $ 5,387 $ 3,553 $ 5,387 Long-term debt 3,299,257 3,228,877 3,236,317 3,254,280 Total $ 3,302,810 $ 3,234,264 $ 3,239,870 $ 3,259,667 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.

LEASES

LEASES	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Leases	LEASES We lease office and retail space, warehouse and distribution facilities, land, vehicles, and equipment. We determine if an agreement is or contains a lease at inception. Leases with an initial term of 12 months or less are not recorded on the balance sheet. Right-of-use ("ROU") assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and liabilities are based on the estimated present value of lease payments over the lease term and are recognized at the lease commencement date. As most of our leases do not provide an implicit rate, we use our estimated incremental borrowing rate in determining the present value of lease payments. The estimated incremental borrowing rate is derived from information available at the lease commencement date. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. A limited number of our lease agreements include rental payments adjusted periodically for inflation. Our lease agreements generally do not contain residual value guarantees or material restrictive covenants. For real estate, equipment and vehicles that support selling, marketing and general administrative activities the Company accounts for the lease and non-lease components as a single lease component. These asset categories comprise the majority of our leases. The lease and non-lease components of real estate and equipment leases supporting production activities are not accounted for as a single lease component. Consideration for such contracts are allocated to the lease component and non-lease components based upon relative standalone prices either observable or estimated if observable prices are not readily available. The components of lease expense for the three months ended March 31, 2019 were as follows: Three Months Ended Lease expense Classification March 31, 2019 Operating lease cost Cost of sales or SM&A (1) $ 10,214 Finance lease cost: Amortization of ROU assets Depreciation and amortization (1) 1,934 Interest on lease liabilities Interest expense, net 1,101 Net lease cost (2) $ 13,249 (1) Supply chain-related amounts were included in cost of sales. (2) Net lease cost does not include short-term leases, variable lease costs or sublease income, all of which are immaterial. Information regarding our lease terms and discount rates as of March 31, 2019 were as follows: March 31, 2019 Weighted-average remaining lease term (years) Operating leases 14.8 Finance leases 32.0 Weighted-average discount rate Operating leases 3.9 % Finance leases 6.0 % Supplemental balance sheet information related to leases as of March 31, 2019 was as follows: Leases Classification March 31, 2019 Assets Operating lease ROU assets Other assets (non-current) $ 219,138 Finance lease ROU assets, at cost Property, plant and equipment, gross 99,551 Accumulated amortization Accumulated depreciation (1,364 ) Finance lease ROU assets, net Property, plant and equipment, net $ 98,187 Total leased assets $ 317,325 Liabilities Current Operating Accrued liabilities $ 30,178 Finance Current portion of long-term debt 3,688 Non-current Operating Other long-term liabilities 179,636 Finance Long-term debt 74,497 Total lease liabilities $ 287,999 The maturity of our lease liabilities as of March 31, 2019 were as follows: Operating leases Finance leases Total 2019 (remaining of year) $ 28,698 $ 5,594 $ 34,292 2020 24,025 6,303 30,328 2021 16,876 4,996 21,872 2022 15,514 4,491 20,005 2023 13,507 4,595 18,102 Thereafter 185,621 169,941 355,562 Total lease payments 284,241 195,920 480,161 Less: Imputed interest 74,427 117,735 192,162 Total lease liabilities $ 209,814 $ 78,185 $ 287,999 Supplemental cash flow and other information related to leases for the three months ended March 31, 2019 was as follows: Three Months Ended March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9,524 Operating cash flows from finance leases 1,101 Financing cash flows from finance leases 994 ROU assets obtained in exchange for lease liabilities: Operating leases 717 Finance leases 3,172

ASSETS AND LIABILITIES HELD FOR

ASSETS AND LIABILITIES HELD FOR SALE	3 Months Ended
	Mar. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Assets and Liabilities Held for Sale	ASSETS AND LIABILITIES HELD FOR SALE As of March 31, 2019 , the following disposal groups have been classified as held for sale, in each case stated at the lower of net book value or estimated sales value less costs to sell: • The Lotte Shanghai Foods Co., Ltd. joint venture, which was taken out of operation and classified as held for sale during the second quarter of 2018. We sold a portion of the joint venture's equipment in the third and fourth quarters of 2018, and expect the sale of the remaining business to be completed by mid-2019. • Other assets, which are predominantly comprised of select Pennsylvania facilities and land that met the held for sale criteria in the third quarter of 2018. We expect these long-lived assets to be sold during 2019. The amounts classified as assets and liabilities held for sale at March 31, 2019 include the following: Assets held for sale, included in prepaid expenses and other assets Property, plant and equipment, net $ 20,905 Other assets 2,516 $ 23,421 Liabilities held for sale, included in accrued liabilities Accounts payable and accrued liabilities $ 596 $ 596

BUSINESS REALIGNMENT ACTIVITIES

BUSINESS REALIGNMENT ACTIVITIES	3 Months Ended
	Mar. 31, 2019
Restructuring and Related Activities [Abstract]
Business Realignment Activities	BUSINESS REALIGNMENT ACTIVITIES We periodically undertake business realignment activities designed to increase our efficiency and focus our business in support of our key growth strategies. Costs recorded during the three months ended March 31, 2019 and April 1, 2018 related to these activities were as follows: Three Months Ended March 31, 2019 April 1, 2018 Margin for Growth Program: Severance $ — $ 4,048 Accelerated depreciation — 717 Other program costs 484 10,088 Operational Optimization Program: Other program costs — 1,098 Total $ 484 $ 15,951 Margin for Growth Program In the first quarter 2017, the Company's Board of Directors ("Board") 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 is focused 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. We originally estimated that the Margin for Growth Program would result in total pre-tax charges of $375,000 to $425,000 , to be incurred from 2017 to 2019. The majority of the initiatives relating to the program have been executed, with the final initiatives to be completed over approximately the next nine months. To date, we have incurred pre-tax charges to execute the program totaling $336,779 . This includes long-lived asset impairment charges of $208,712 related to the operations supporting our China business in 2017, as well as the $16,300 incremental impairment charge resulting from the sale of Shanghai Golden Monkey Food Joint Stock Co., Ltd. ("SGM"). In addition to the impairment charges, we have incurred employee separation costs of $47,932 and other business realignment costs of $63,835 . We expect the remaining spending on this program to be minimal in 2019, bringing total estimated project costs to approximately $340,000 to $355,000 . The cash portion of the total program charges is estimated to be $97,000 to $110,000 . The Company reduced its global workforce by approximately 15% as a result of this program, with a majority of the reductions coming from hourly headcount positions outside of the United States. During 2019, we recognized total costs associated with the Margin for Growth Program of $484 . During 2018, we recognized total costs associated with the Margin for Growth Program of $14,853 . These charges include employee severance, largely relating to initiatives to improve the cost structure of our China business and to further streamline our corporate operating model, as well as non-cash, asset-related incremental depreciation expense as part of optimizing the global supply chain. In addition, we incurred other program costs, which relate primarily to third-party charges in support of our initiative to improve 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 included select facility consolidations. The program encompassed the 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 first quarter of 2018, we incurred pre-tax costs totaling $1,098 , relating primarily to third-party charges in support of our initiative to optimize our production and supply chain network. This program was completed in 2018. Costs associated with business realignment activities are classified in our Consolidated Statements of Income as follows: Three Months Ended March 31, 2019 April 1, 2018 Cost of sales $ — $ 2,214 Selling, marketing and administrative expense 422 5,513 Business realignment costs 62 8,224 Costs associated with business realignment activities $ 484 $ 15,951 The costs and related benefits of the Margin for Growth Program relate approximately 60% to the North America segment and 40% to the International and Other segment. However, segment operating results do not include these business realignment expenses because we evaluate segment performance excluding such costs. The following table presents the liability activity for costs qualifying as exit and disposal costs for the three months ended March 31, 2019 : Total Liability balance at December 31, 2018 $ 14,605 2019 business realignment charges (1) 186 Cash payments (5,655 ) Liability balance at March 31, 2019 (reported within accrued liabilities) $ 9,136 (1)

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2019
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 21% . The effective tax rates for the three months ended March 31, 2019 and April 1, 2018 were 23.2% and 21.9% , respectively. Relative to the statutory rate, the 2019 effective tax rate was impacted by state taxes and an unfavorable foreign rate differential, which were partially offset by the benefit of ASU 2016-09 for the accounting of employee share-based payments. Hershey and its subsidiaries file tax returns in the U.S., including various state and local returns, and in other foreign jurisdictions. We believe adequate provision has been made for all income tax uncertainties. We are routinely audited by taxing authorities in our filing jurisdictions, and a number of these audits are currently underway. We reasonably expect reductions in the liability for unrecognized tax benefits of approximately $9,807 within the next 12 months because of the expiration of statutes of limitations and settlements of tax audits. U.S. Tax Cuts and Jobs Act of 2017 The U.S. Tax Cuts and Jobs Act, enacted in December 2017 (“U.S. tax reform”), significantly changed U.S. corporate income tax laws by, among other things, reducing the U.S. corporate income tax rate to 21% starting in 2018 and creating a territorial tax system with a one-time mandatory tax on previously deferred foreign earnings of U.S. subsidiaries. Under GAAP (specifically, ASC Topic 740), the effects of changes in tax rates and laws on deferred tax balances are recognized in the period in which the new legislation is enacted. During the fourth quarter of 2017, we recorded a net provisional charge of $32.5 million , which included the estimated impact of the one-time mandatory tax on previously deferred earnings of non-U.S. subsidiaries offset in part by the benefit from revaluation of net deferred tax liabilities based on the new lower corporate income tax rate. During 2018, we recorded net benefits totaling $19.5 million as measurement period adjustments to the net provisional charge. The

PENSION AND OTHER POST-RETIREME

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS	3 Months Ended
	Mar. 31, 2019
Retirement Benefits [Abstract]
Pension and Other Post-Retirement Benefit Plans	PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS Net Periodic Benefit Cost The components of net periodic benefit cost for the three months ended March 31, 2019 and April 1, 2018 were as follows: Pension Benefits Other Benefits Three Months Ended Three Months Ended March 31, 2019 April 1, 2018 March 31, 2019 April 1, 2018 Service cost $ 5,207 $ 5,335 $ 38 $ 58 Interest cost 9,156 7,839 1,959 1,732 Expected return on plan assets (13,496 ) (14,766 ) — — Amortization of prior service (credit) cost (1,809 ) (1,799 ) 203 209 Amortization of net loss (gain) 8,420 6,687 (96 ) — Total net periodic benefit cost $ 7,478 $ 3,296 $ 2,104 $ 1,999 We made contributions of $898 and $3,763 to the pension plans and other benefits plans, respectively, during the first quarter of 2019 . In the first quarter of 2018 , we made contributions of $1,005 and $6,444 to our pension plans and other benefit plans, respectively. The contributions in 2019 and 2018

STOCK COMPENSATION PLANS

STOCK COMPENSATION PLANS	3 Months Ended
	Mar. 31, 2019
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 2018 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 March 31, 2019 April 1, 2018 Pre-tax compensation expense $ 10,556 $ 10,458 Related income tax benefit 2,322 2,604 Compensation costs for stock compensation plans are primarily included in selling, marketing and administrative expense. As of March 31, 2019 , total stock-based compensation cost related to non-vested awards not yet recognized was $92,298 and the weighted-average period over which this amount is expected to be recognized was approximately 2.3 years . Stock Options A summary of activity relating to grants of stock options for the period ended March 31, 2019 is as follows: Stock Options Shares Weighted-Average Weighted-Average Remaining Aggregate Intrinsic Value Outstanding at beginning of year 5,394,382 $94.28 5.6 years Granted 1,640 $109.74 Exercised (603,525 ) $81.10 Forfeited (16,263 ) $104.90 Outstanding as of March 31, 2019 4,776,234 $95.91 5.6 years $ 90,361 Options exercisable as of March 31, 2019 3,589,392 $94.22 4.7 years $ 73,967 The weighted-average fair value of options granted was $15.25 and $15.58 per share for the periods ended March 31, 2019 and April 1, 2018 , respectively. The fair value was estimated on the date of grant using a Black-Scholes option-pricing model and the following weighted-average assumptions: Three Months Ended March 31, 2019 April 1, 2018 Dividend yields 2.7 % 2.3 % Expected volatility 17.0 % 16.6 % Risk-free interest rates 2.5 % 2.8 % Expected term in years 6.5 6.6 The total intrinsic value of options exercised was $17,598 and $9,145 for the periods ended March 31, 2019 and April 1, 2018 , respectively. Performance Stock Units and Restricted Stock Units A summary of activity relating to grants of PSUs and RSUs for the period ended March 31, 2019 is as follows: Performance Stock Units and Restricted Stock Units Number of units Weighted-average grant date fair value for equity awards (per unit) Outstanding at beginning of year 999,018 $101.57 Granted 433,109 $113.65 Performance assumption change (1) (71,694 ) $137.34 Vested (328,136 ) $98.05 Forfeited (9,198 ) $101.00 Outstanding as of March 31, 2019 1,023,099 $105.65 (1) Reflects the net number of PSUs above and below target levels based on the performance metrics. The following table sets forth information about the fair value of the PSUs and RSUs granted for potential future distribution to employees and non-employee directors. In addition, the table provides assumptions used to determine the fair value of the market-based total shareholder return component using the Monte Carlo simulation model on the date of grant. Three Months Ended March 31, 2019 April 1, 2018 Units granted 433,109 302,947 Weighted-average fair value at date of grant $ 113.65 $ 98.27 Monte Carlo simulation assumptions: Estimated values $ 48.40 $ 29.17 Dividend yields 2.6 % 2.6 % Expected volatility 20.3 % 20.4 % The fair value of shares vested totaled $36,003 and $15,605 for the periods ended March 31, 2019 and April 1, 2018 , respectively. Deferred PSUs, deferred RSUs and deferred stock units representing directors’ fees totaled 347,073 units as of March 31, 2019 . Each unit is equivalent to one

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2019
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 90% 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, Niagara Falls (Ontario) 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-related costs and other unusual gains or losses that are not part of our measurement of segment performance. These items of our operating income are managed centrally at the corporate level and are excluded from the measure of segment income reviewed by the CODM as well the measure of segment performance used for incentive compensation purposes. 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 (gains) 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 March 31, 2019 April 1, 2018 Net sales: North America $ 1,806,958 $ 1,751,688 International and Other 209,530 220,271 Total $ 2,016,488 $ 1,971,959 Segment income: North America $ 564,761 $ 534,426 International and Other 20,243 17,680 Total segment income 585,004 552,106 Unallocated corporate expense (1) 114,504 123,967 Unallocated mark-to-market losses (gains) on commodity derivatives 27,967 (96,250 ) Costs associated with business realignment activities 484 15,951 Acquisition-related costs 3,180 27,926 Operating profit 438,869 480,512 Interest expense, net 37,458 29,339 Other (income) expense, net 5,477 1,942 Income before income taxes $ 395,934 $ 449,231 (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 losses (gains) on commodity derivatives is as follows: Three Months Ended March 31, 2019 April 1, 2018 Net losses (gains) on mark-to-market valuation of commodity derivative positions recognized in income $ 26,641 $ (66,590 ) Net gains (losses) on commodity derivative positions reclassified from unallocated to segment income 1,326 (29,660 ) Net losses (gains) on mark-to-market valuation of commodity derivative positions recognized in unallocated derivative (gains) losses $ 27,967 $ (96,250 ) As of March 31, 2019 , the cumulative amount of mark-to-market gains on commodity derivatives that have been recognized in our consolidated cost of sales and not yet allocated to reportable segments was $12,351 . Based on our forecasts of the timing of the recognition of the underlying hedged items, we expect to reclassify net pretax gains on commodity derivatives of $4,265 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 March 31, 2019 April 1, 2018 North America $ 53,945 $ 47,985 International and Other 7,350 14,288 Corporate (1) 11,034 12,143 Total $ 72,329 $ 74,416 (1)

TREASURY STOCK ACTIVITY

TREASURY STOCK ACTIVITY	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Treasury Stock Activity	TREASURY STOCK ACTIVITY A summary of our treasury stock activity is as follows: Three Months Ended March 31, 2019 Shares Dollars In thousands Shares repurchased in the open market under pre-approved share repurchase programs 1,386,193 $ 150,000 Shares repurchased to replace Treasury Stock issued for stock options and incentive compensation 463,305 48,500 Total share repurchases 1,849,498 198,500 Shares issued for stock options and incentive compensation (746,441 ) (31,060 ) Net change 1,103,057 $ 167,440 The $100,000 share repurchase program approved by our Board of Directors in October 2017 was completed in the first quarter of 2019. In July 2018, our Board of Directors approved an additional $500,000 share repurchase authorization, to commence after the existing 2017 authorization was completed. As of March 31, 2019 , $410,000

NONCONTROLLING INTEREST

NONCONTROLLING INTEREST	3 Months Ended
	Mar. 31, 2019
Noncontrolling Interest [Line Items]
Noncontrolling Interest	NONCONTROLLING INTEREST Noncontrolling Interest in Subsidiary 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 joint venture partners. A roll-forward showing the 2019 activity relating to the noncontrolling interest follows: Noncontrolling Interest Balance, December 31, 2018 $ 8,545 Net loss attributable to noncontrolling interest (477 ) Other comprehensive income - foreign currency translation adjustments 555 Balance, March 31, 2019 $ 8,623

CONTINGENCIES

CONTINGENCIES	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Contingencies	CONTINGENCIES We are subject to various pending or threatened legal proceedings and claims that arise in the ordinary course of our business. While it is not feasible to predict or determine the outcome of such proceedings and claims with certainty, in our opinion these matters, both individually and in the aggregate, are not expected to have a material effect on our financial condition, results of operations or cash flows.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2019
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. 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 March 31, 2019 April 1, 2018 Common Stock Class B Common Stock Common Stock Class B Common Stock Basic earnings per share: Numerator: Allocation of distributed earnings (cash dividends paid) $ 106,700 $ 39,763 $ 98,170 $ 36,130 Allocation of undistributed earnings 115,223 42,672 157,952 57,951 Total earnings—basic $ 221,923 $ 82,435 $ 256,122 $ 94,081 Denominator (shares in thousands): Total weighted-average shares—basic 148,709 60,614 150,114 60,620 Earnings Per Share—basic $ 1.49 $ 1.36 $ 1.71 $ 1.55 Diluted earnings per share: Numerator: Allocation of total earnings used in basic computation $ 221,923 $ 82,435 $ 256,122 $ 94,081 Reallocation of total earnings as a result of conversion of Class B common stock to Common stock 82,435 — 94,081 — Reallocation of undistributed earnings — (209 ) — (343 ) Total earnings—diluted $ 304,358 $ 82,226 $ 350,203 $ 93,738 Denominator (shares in thousands): Number of shares used in basic computation 148,709 60,614 150,114 60,620 Weighted-average effect of dilutive securities: Conversion of Class B common stock to Common shares outstanding 60,614 — 60,620 — Employee stock options 582 — 844 — Performance and restricted stock units 422 — 377 — Total weighted-average shares—diluted 210,327 60,614 211,955 60,620 Earnings Per Share—diluted $ 1.45 $ 1.36 $ 1.65 $ 1.55 The earnings per share calculations for the three months ended March 31, 2019 and April 1, 2018 excluded 1,476 and 3,689

OTHER (INCOME) EXPENSE, NET

OTHER (INCOME) EXPENSE, NET	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 April 1, 2018 Write-down of equity investments in partnerships qualifying for tax credits $ 1,152 $ 434 Non-service cost components of net periodic benefit cost relating to pension and other post-retirement benefit plans 4,337 (98 ) Other (income) expense, net (12 ) 1,606 Total $ 5,477 $ 1,942

SUPPLEMENTAL BALANCE SHEET INFO

SUPPLEMENTAL BALANCE SHEET INFORMATION	3 Months Ended
	Mar. 31, 2019
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: March 31, 2019 December 31, 2018 Inventories: Raw materials $ 245,848 $ 237,086 Goods in process 147,881 107,139 Finished goods 569,486 618,798 Inventories at FIFO 963,215 963,023 Adjustment to LIFO (171,926 ) (178,144 ) Total inventories $ 791,289 $ 784,879 Prepaid expenses and other: Prepaid expenses $ 47,735 $ 68,490 Assets held for sale 23,421 23,421 Other current assets 194,383 180,248 Total prepaid expenses and other $ 265,539 $ 272,159 Property, plant and equipment: Land $ 103,116 $ 102,074 Buildings 1,219,652 1,211,011 Machinery and equipment 2,981,331 2,988,027 Construction in progress 268,202 280,559 Property, plant and equipment, gross 4,572,301 4,581,671 Accumulated depreciation (2,464,226 ) (2,451,377 ) Property, plant and equipment, net $ 2,108,075 $ 2,130,294 Other assets: Capitalized software, net $ 133,328 $ 126,379 Operating lease ROU assets 219,138 — Other non-current assets 107,288 126,605 Total other assets $ 459,754 $ 252,984 Accrued liabilities: Payroll, compensation and benefits $ 124,116 $ 180,546 Advertising, promotion and product allowances 345,642 293,642 Operating lease liabilities 30,178 — Liabilities held for sale 596 596 Other 150,125 204,379 Total accrued liabilities $ 650,657 $ 679,163 Other long-term liabilities: Post-retirement benefits liabilities $ 193,648 $ 195,166 Pension benefits liabilities 65,751 66,379 Operating lease liabilities 179,636 — Other 179,098 184,503 Total other long-term liabilities $ 618,133 $ 446,048 Accumulated other comprehensive loss: Foreign currency translation adjustments $ (93,803 ) $ (96,678 ) Pension and post-retirement benefit plans, net of tax (200,319 ) (205,230 ) Cash flow hedges, net of tax (54,398 ) (54,872 ) Total accumulated other comprehensive loss $ (348,520 ) $ (356,780 )

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 may not be indicative of the results that may be expected for the year ending December 31, 2019 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, 2018 (our “ 2018
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-02, Leases (Topic 842) . This ASU requires lessees to recognize most leases on their balance sheets as lease liabilities with corresponding right-of-use ("ROU") assets. The Company adopted the standard as of January 1, 2019, using a modified retrospective approach and applying the standard’s transition provisions at January 1, 2019, the effective date. We elected the package of practical expedients permitted under the transition guidance, which among other things, allows us to carryforward the historical lease classification. In addition, we made accounting policy elections to combine the lease and non-lease components for asset categories that support selling, marketing and general administrative activities. These asset categories comprise the majority of our leases. Finally, we made elections to exclude from balance sheet reporting those leases with initial terms of 12 months or less. Adoption of the new standard resulted in the recording of operating lease ROU assets and lease liabilities of $227,258 and $216,966 , respectively, with the difference largely due to prepaid and deferred rent that were reclassified to the ROU asset value. In addition, we derecognized a build-to-suit arrangement in accordance with the transition requirements, which resulted in an adjustment to retained earnings of $3,913 . The standard did not materially affect our consolidated net income or cash flows. See Note 7 for further details. 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. We adopted the provisions of this ASU in the first quarter of 2019 using a modified retrospective approach. Adoption of the new standard did not have a material impact on our consolidated financial statements. In June 2018, the FASB issued ASU No. 2018-07, Compensation – Stock Compensation (Topic 718), Improvements to Nonemployee Share-Based Payment Accounting. This ASU is intended to simplify aspects of share-based compensation issued to non-employees by making the guidance consistent with accounting for employee share-based compensation. We adopted the provisions of this ASU in the first quarter of 2019. Adoption of the new standard did not have a material impact on our consolidated financial statements. In February 2018, the FASB issued ASU No. 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . This ASU permits a company to reclassify the income tax effects of the 2017 Tax Cuts and Jobs Act (“U.S. tax reform”) on items within AOCI to retained earnings. We adopted the provisions of this ASU in the first quarter of 2018. We elected to reclassify the income tax effects of U.S. tax reform from items in AOCI as of January 1, 2018 so that the tax effects of items within AOCI are reflected at the appropriate tax rate. The impact of the reclassification resulted in a $47,656 decrease to AOCI and a corresponding increase to retained earnings. Recently Issued Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . This ASU modifies the measurement of expected credit losses of certain financial instruments. ASU 2016-13 is effective for annual periods beginning after December 15, 2019 and interim periods within those annual periods. The amendments in this ASU should be applied on a modified retrospective basis to all periods presented. We are currently evaluating the effect that ASU 2016-13 will have on our consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820), Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement . This ASU modifies the disclosure requirements for fair value measurements by removing, modifying or adding certain disclosures. ASU 2018-13 is effective for annual periods beginning after December 15, 2019 and interim periods within those annual periods, with early adoption permitted. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. We are currently evaluating the effect that ASU 2018-13 will have on our consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU No. 2018-14, Compensation—Retirement Benefits—Defined Benefit Plans—General (Topic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans , which modifies the disclosure requirements for defined benefit pension plans and other post-retirement plans. ASU 2018-14 is effective for annual periods beginning after December 15, 2020, with early adoption permitted. The amendments in this ASU should be applied on a retrospective basis to all periods presented. We are currently evaluating the effect that ASU 2018-14 will have on our consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40), Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract . This ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). ASU 2018-15 is effective for annual periods beginning after December 15, 2019 and interim periods within those annual periods, with early adoption permitted. The amendments in this ASU should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. We are currently evaluating the effect that ASU 2018-15 will have on our consolidated financial statements and related disclosures.

BUSINESS ACQUISITIONS (Tables)

BUSINESS ACQUISITIONS (Tables)	3 Months Ended
	Mar. 31, 2019
Pirate Brands
Business Acquisition and Divestitures [Line Items]
Schedule 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: Inventories $ 4,663 Plant, property and equipment, net 48 Goodwill 129,991 Other intangible assets 289,300 Accrued liabilities (1,000 ) Net assets acquired $ 423,002
Amplify Snack Brands, Inc.
Business Acquisition and Divestitures [Line Items]
Schedule of Purchase Consideration Allocation to Assets Acquired and Liabilities Assumed	The purchase consideration, net of cash acquired totaling $53,324 , was allocated to assets acquired and liabilities assumed based on their respective fair values as follows: Accounts receivable $ 40,763 Other current assets 34,593 Plant, property and equipment, net 67,989 Goodwill 966,389 Other intangible assets 682,000 Other non-current assets 1,049 Accounts payable (32,394 ) Accrued liabilities (132,519 ) Current debt (610,844 ) Other current liabilities (2,931 ) Non-current deferred income taxes (93,489 ) Non-current liabilities (5,149 ) Net assets acquired $ 915,457

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of the Changes in the Carrying Value of Goodwill by Reportable Segment	The changes in the carrying value of goodwill by reportable segment for the three months ended March 31, 2019 are as follows: North America International and Other Total Balance at December 31, 2018 1,782,845 18,258 1,801,103 Foreign currency translation 2,286 212 2,498 Balance at March 31, 2019 $ 1,785,131 $ 18,470 $ 1,803,601
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: March 31, 2019 December 31, 2018 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Intangible assets subject to amortization: Trademarks $ 1,174,817 $ (70,271 ) $ 1,173,770 $ (60,995 ) Customer-related 164,606 (36,485 ) 163,860 (33,516 ) Patents 16,478 (16,027 ) 16,306 (15,772 ) Total 1,355,901 (122,783 ) 1,353,936 (110,283 ) Intangible assets not subject to amortization: Trademarks 34,715 34,639 Total other intangible assets $ 1,267,833 $ 1,278,292

SHORT AND LONG-TERM DEBT (Table

SHORT AND LONG-TERM DEBT (Tables)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Instruments	Long-term debt consisted of the following: March 31, 2019 December 31, 2018 2.90% Notes due 2020 $ 350,000 $ 350,000 4.125% Notes due 2020 350,000 350,000 3.10% Notes due 2021 350,000 350,000 8.8% Debentures due 2021 84,715 84,715 3.375% Notes due 2023 500,000 500,000 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 Finance lease liabilities 78,185 101,980 Net impact of interest rate swaps, debt issuance costs and unamortized debt discounts (16,669 ) (20,667 ) Total long-term debt 3,239,870 3,259,667 Less—current portion 3,553 5,387 Long-term portion $ 3,236,317 $ 3,254,280
Schedule of Net Interest Expense	Net interest expense consists of the following: Three Months Ended March 31, 2019 April 1, 2018 Interest expense $ 40,663 $ 32,853 Capitalized interest (1,257 ) (1,299 ) Interest expense 39,406 31,554 Interest income (1,948 ) (2,215 ) Interest expense, net $ 37,458 $ 29,339

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of the Classification of Derivative Assets and Liabilities within the Consolidated Balance Sheets	The following table presents amounts that were recorded on the balance sheet related to cumulative basis adjustments for interest rate swap derivatives designated as fair value accounting hedges as of March 31, 2019 and December 31, 2018 . Line Item in the Consolidated Balance Sheet in Which the Hedged Item is Included Carrying Amount of the Hedged Asset/(Liability) Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount Assets/(Liabilities) March 31, 2019 December 31, 2018 March 31, 2019 December 31, 2018 Long-term debt $ (349,496 ) $ (354,832 ) $ 504 $ (4,832 ) March 31, 2019 and December 31, 2018 : March 31, 2019 December 31, 2018 Assets (1) Liabilities (1) Assets (1) Liabilities (1) Derivatives designated as cash flow hedging instruments: Foreign exchange contracts $ 2,065 $ 786 $ 3,394 $ 485 Derivatives designated as fair value hedging instruments: Interest rate swap agreements 504 — — 4,832 Derivatives not designated as hedging instruments: Commodities futures and options (2) 5,862 552 7,230 262 Deferred compensation derivatives 3,043 — — 4,736 Foreign exchange contracts 44 169 70 484 8,949 721 7,300 5,482 Total $ 11,518 $ 1,507 $ 10,694 $ 10,799 (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 March 31, 2019 , amounts reflected on a net basis in assets were assets of $94,078 and liabilities of $89,233 , which are 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 assets at December 31, 2018 were assets of $63,978 and liabilities of $57,351 . At March 31, 2019 and December 31, 2018 , the remaining amount reflected in assets and liabilities related to the fair value of other non-exchange traded derivative instruments, respectively.
Schedule 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 March 31, 2019 and April 1, 2018 was as follows: Non-designated Hedges Cash Flow Hedges Gains (losses) recognized in income (a) Gains (losses) recognized in other comprehensive income (“OCI”) Gains (losses) reclassified from accumulated OCI into income (b) 2019 2018 2019 2018 2019 2018 Commodities futures and options $ (26,641 ) $ 66,590 $ — $ — $ — $ — Foreign exchange contracts 215 (152 ) (789 ) 4,245 931 136 Interest rate swap agreements — — — — (2,369 ) (2,396 ) Deferred compensation derivatives 3,043 (393 ) — — — — Total $ (23,383 ) $ 66,045 $ (789 ) $ 4,245 $ (1,438 ) $ (2,260 ) (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 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 _2

FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2019
FAIR VALUE MEASUREMENTS [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value	The following table presents assets and liabilities that were measured at fair value in the Consolidated Balance Sheet on a recurring basis as of March 31, 2019 and December 31, 2018 : Assets (Liabilities) Level 1 Level 2 Level 3 Total March 31, 2019: Derivative Instruments: Assets: Foreign exchange contracts (1) $ — $ 2,109 $ — $ 2,109 Interest rate swap agreements (2) — 504 — 504 Deferred compensation derivatives (3) — 3,043 — 3,043 Commodities futures and options (4) 5,862 — — 5,862 Liabilities: Foreign exchange contracts (1) — 955 — 955 Commodities futures and options (4) 552 — — 552 December 31, 2018: Assets: Foreign exchange contracts (1) $ — $ 3,464 $ — $ 3,464 Commodities futures and options (4) 7,230 — — 7,230 Liabilities: Foreign exchange contracts (1) — 969 — 969 Interest rate swap agreements (2) — 4,832 — 4,832 Deferred compensation derivatives (3) — 4,736 — 4,736 Commodities futures and options (4) 262 — — 262 (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)
Schedule of Fair Values and Carrying Values of Long-Term Debt	The fair values and carrying values of long-term debt, including the current portion, were as follows: Fair Value Carrying Value March 31, 2019 December 31, 2018 March 31, 2019 December 31, 2018 Current portion of long-term debt $ 3,553 $ 5,387 $ 3,553 $ 5,387 Long-term debt 3,299,257 3,228,877 3,236,317 3,254,280 Total $ 3,302,810 $ 3,234,264 $ 3,239,870 $ 3,259,667

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Schedule of Components of Lease Expense	Information regarding our lease terms and discount rates as of March 31, 2019 were as follows: March 31, 2019 Weighted-average remaining lease term (years) Operating leases 14.8 Finance leases 32.0 Weighted-average discount rate Operating leases 3.9 % Finance leases 6.0 % three months ended March 31, 2019 were as follows: Three Months Ended Lease expense Classification March 31, 2019 Operating lease cost Cost of sales or SM&A (1) $ 10,214 Finance lease cost: Amortization of ROU assets Depreciation and amortization (1) 1,934 Interest on lease liabilities Interest expense, net 1,101 Net lease cost (2) $ 13,249 (1) Supply chain-related amounts were included in cost of sales. (2)
Schedule of Supplemental Balance Sheet Information	Supplemental balance sheet information related to leases as of March 31, 2019 was as follows: Leases Classification March 31, 2019 Assets Operating lease ROU assets Other assets (non-current) $ 219,138 Finance lease ROU assets, at cost Property, plant and equipment, gross 99,551 Accumulated amortization Accumulated depreciation (1,364 ) Finance lease ROU assets, net Property, plant and equipment, net $ 98,187 Total leased assets $ 317,325 Liabilities Current Operating Accrued liabilities $ 30,178 Finance Current portion of long-term debt 3,688 Non-current Operating Other long-term liabilities 179,636 Finance Long-term debt 74,497 Total lease liabilities $ 287,999 March 31, 2019 December 31, 2018 Inventories: Raw materials $ 245,848 $ 237,086 Goods in process 147,881 107,139 Finished goods 569,486 618,798 Inventories at FIFO 963,215 963,023 Adjustment to LIFO (171,926 ) (178,144 ) Total inventories $ 791,289 $ 784,879 Prepaid expenses and other: Prepaid expenses $ 47,735 $ 68,490 Assets held for sale 23,421 23,421 Other current assets 194,383 180,248 Total prepaid expenses and other $ 265,539 $ 272,159 Property, plant and equipment: Land $ 103,116 $ 102,074 Buildings 1,219,652 1,211,011 Machinery and equipment 2,981,331 2,988,027 Construction in progress 268,202 280,559 Property, plant and equipment, gross 4,572,301 4,581,671 Accumulated depreciation (2,464,226 ) (2,451,377 ) Property, plant and equipment, net $ 2,108,075 $ 2,130,294 Other assets: Capitalized software, net $ 133,328 $ 126,379 Operating lease ROU assets 219,138 — Other non-current assets 107,288 126,605 Total other assets $ 459,754 $ 252,984 Accrued liabilities: Payroll, compensation and benefits $ 124,116 $ 180,546 Advertising, promotion and product allowances 345,642 293,642 Operating lease liabilities 30,178 — Liabilities held for sale 596 596 Other 150,125 204,379 Total accrued liabilities $ 650,657 $ 679,163 Other long-term liabilities: Post-retirement benefits liabilities $ 193,648 $ 195,166 Pension benefits liabilities 65,751 66,379 Operating lease liabilities 179,636 — Other 179,098 184,503 Total other long-term liabilities $ 618,133 $ 446,048 Accumulated other comprehensive loss: Foreign currency translation adjustments $ (93,803 ) $ (96,678 ) Pension and post-retirement benefit plans, net of tax (200,319 ) (205,230 ) Cash flow hedges, net of tax (54,398 ) (54,872 ) Total accumulated other comprehensive loss $ (348,520 ) $ (356,780 )
Schedule of Maturity of Operating Lease Liabilities	The maturity of our lease liabilities as of March 31, 2019 were as follows: Operating leases Finance leases Total 2019 (remaining of year) $ 28,698 $ 5,594 $ 34,292 2020 24,025 6,303 30,328 2021 16,876 4,996 21,872 2022 15,514 4,491 20,005 2023 13,507 4,595 18,102 Thereafter 185,621 169,941 355,562 Total lease payments 284,241 195,920 480,161 Less: Imputed interest 74,427 117,735 192,162 Total lease liabilities $ 209,814 $ 78,185 $ 287,999
Schedule of Maturity of Finance Lease Liabilities	The maturity of our lease liabilities as of March 31, 2019 were as follows: Operating leases Finance leases Total 2019 (remaining of year) $ 28,698 $ 5,594 $ 34,292 2020 24,025 6,303 30,328 2021 16,876 4,996 21,872 2022 15,514 4,491 20,005 2023 13,507 4,595 18,102 Thereafter 185,621 169,941 355,562 Total lease payments 284,241 195,920 480,161 Less: Imputed interest 74,427 117,735 192,162 Total lease liabilities $ 209,814 $ 78,185 $ 287,999
Schedule of Supplemental Cash Flow Information Related To Leases	Supplemental cash flow and other information related to leases for the three months ended March 31, 2019 was as follows: Three Months Ended March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9,524 Operating cash flows from finance leases 1,101 Financing cash flows from finance leases 994 ROU assets obtained in exchange for lease liabilities: Operating leases 717 Finance leases 3,172

ASSETS AND LIABILITIES HELD F_2

ASSETS AND LIABILITIES HELD FOR SALE (Tables)	3 Months Ended
	Mar. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets and Liabilities Held for Sale	The amounts classified as assets and liabilities held for sale at March 31, 2019 include the following: Assets held for sale, included in prepaid expenses and other assets Property, plant and equipment, net $ 20,905 Other assets 2,516 $ 23,421 Liabilities held for sale, included in accrued liabilities Accounts payable and accrued liabilities $ 596 $ 596

BUSINESS REALIGNMENT ACTIVITI_2

BUSINESS REALIGNMENT ACTIVITIES (Tables)	3 Months Ended
	Mar. 31, 2019
Restructuring and Related Activities [Abstract]
Schedule of Business Realignment Activity	Costs associated with business realignment activities are classified in our Consolidated Statements of Income as follows: Three Months Ended March 31, 2019 April 1, 2018 Cost of sales $ — $ 2,214 Selling, marketing and administrative expense 422 5,513 Business realignment costs 62 8,224 Costs associated with business realignment activities $ 484 $ 15,951 three months ended March 31, 2019 and April 1, 2018 related to these activities were as follows: Three Months Ended March 31, 2019 April 1, 2018 Margin for Growth Program: Severance $ — $ 4,048 Accelerated depreciation — 717 Other program costs 484 10,088 Operational Optimization Program: Other program costs — 1,098 Total $ 484 $ 15,951
Schedule of Liability Activity for Costs Qualifying as Exit and Disposal Costs	The following table presents the liability activity for costs qualifying as exit and disposal costs for the three months ended March 31, 2019 : Total Liability balance at December 31, 2018 $ 14,605 2019 business realignment charges (1) 186 Cash payments (5,655 ) Liability balance at March 31, 2019 (reported within accrued liabilities) $ 9,136 (1)

PENSION AND OTHER POST-RETIRE_2

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS (Tables)	3 Months Ended
	Mar. 31, 2019
Retirement Benefits [Abstract]
Schedule of Components of Net Periodic Benefit Cost	The components of net periodic benefit cost for the three months ended March 31, 2019 and April 1, 2018 were as follows: Pension Benefits Other Benefits Three Months Ended Three Months Ended March 31, 2019 April 1, 2018 March 31, 2019 April 1, 2018 Service cost $ 5,207 $ 5,335 $ 38 $ 58 Interest cost 9,156 7,839 1,959 1,732 Expected return on plan assets (13,496 ) (14,766 ) — — Amortization of prior service (credit) cost (1,809 ) (1,799 ) 203 209 Amortization of net loss (gain) 8,420 6,687 (96 ) — Total net periodic benefit cost $ 7,478 $ 3,296 $ 2,104 $ 1,999

STOCK COMPENSATION PLANS (Table

STOCK COMPENSATION PLANS (Tables)	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule 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 March 31, 2019 April 1, 2018 Pre-tax compensation expense $ 10,556 $ 10,458 Related income tax benefit 2,322 2,604
Schedule of Activity Relating to the Grants of Stock Options	A summary of activity relating to grants of stock options for the period ended March 31, 2019 is as follows: Stock Options Shares Weighted-Average Weighted-Average Remaining Aggregate Intrinsic Value Outstanding at beginning of year 5,394,382 $94.28 5.6 years Granted 1,640 $109.74 Exercised (603,525 ) $81.10 Forfeited (16,263 ) $104.90 Outstanding as of March 31, 2019 4,776,234 $95.91 5.6 years $ 90,361 Options exercisable as of March 31, 2019 3,589,392 $94.22 4.7 years $ 73,967
Schedule of Fair Value Estimated on the Grant Date and the Weighted Average Assumptions	The fair value was estimated on the date of grant using a Black-Scholes option-pricing model and the following weighted-average assumptions: Three Months Ended March 31, 2019 April 1, 2018 Dividend yields 2.7 % 2.3 % Expected volatility 17.0 % 16.6 % Risk-free interest rates 2.5 % 2.8 % Expected term in years 6.5 6.6
Schedule of Activity Relating to Grants of PSUs and RSUs	A summary of activity relating to grants of PSUs and RSUs for the period ended March 31, 2019 is as follows: Performance Stock Units and Restricted Stock Units Number of units Weighted-average grant date fair value for equity awards (per unit) Outstanding at beginning of year 999,018 $101.57 Granted 433,109 $113.65 Performance assumption change (1) (71,694 ) $137.34 Vested (328,136 ) $98.05 Forfeited (9,198 ) $101.00 Outstanding as of March 31, 2019 1,023,099 $105.65
Schedule of Information Pertaining to Fair Value of PSUs and RSUs Granted for Potential Future Distribution	The following table sets forth information about the fair value of the PSUs and RSUs granted for potential future distribution to employees and non-employee directors. In addition, the table provides assumptions used to determine the fair value of the market-based total shareholder return component using the Monte Carlo simulation model on the date of grant. Three Months Ended March 31, 2019 April 1, 2018 Units granted 433,109 302,947 Weighted-average fair value at date of grant $ 113.65 $ 98.27 Monte Carlo simulation assumptions: Estimated values $ 48.40 $ 29.17 Dividend yields 2.6 % 2.6 % Expected volatility 20.3 % 20.4 %

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Schedule of Net Sales and Earnings by Segment	Our segment net sales and earnings were as follows: Three Months Ended March 31, 2019 April 1, 2018 Net sales: North America $ 1,806,958 $ 1,751,688 International and Other 209,530 220,271 Total $ 2,016,488 $ 1,971,959 Segment income: North America $ 564,761 $ 534,426 International and Other 20,243 17,680 Total segment income 585,004 552,106 Unallocated corporate expense (1) 114,504 123,967 Unallocated mark-to-market losses (gains) on commodity derivatives 27,967 (96,250 ) Costs associated with business realignment activities 484 15,951 Acquisition-related costs 3,180 27,926 Operating profit 438,869 480,512 Interest expense, net 37,458 29,339 Other (income) expense, net 5,477 1,942 Income before income taxes $ 395,934 $ 449,231 (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.
Schedule of Unallocated Mark-to-Market (Gains) Losses on Commodity Derivatives	Activity within the unallocated mark-to-market losses (gains) on commodity derivatives is as follows: Three Months Ended March 31, 2019 April 1, 2018 Net losses (gains) on mark-to-market valuation of commodity derivative positions recognized in income $ 26,641 $ (66,590 ) Net gains (losses) on commodity derivative positions reclassified from unallocated to segment income 1,326 (29,660 ) Net losses (gains) on mark-to-market valuation of commodity derivative positions recognized in unallocated derivative (gains) losses $ 27,967 $ (96,250 )
Schedule of Depreciation and Amortization Expense Included within Segment Income	Depreciation and amortization expense included within segment income presented above is as follows: Three Months Ended March 31, 2019 April 1, 2018 North America $ 53,945 $ 47,985 International and Other 7,350 14,288 Corporate (1) 11,034 12,143 Total $ 72,329 $ 74,416 (1)

TREASURY STOCK ACTIVITY (Tables

TREASURY STOCK ACTIVITY (Tables)	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Schedule of Treasury Stock Activity	A summary of our treasury stock activity is as follows: Three Months Ended March 31, 2019 Shares Dollars In thousands Shares repurchased in the open market under pre-approved share repurchase programs 1,386,193 $ 150,000 Shares repurchased to replace Treasury Stock issued for stock options and incentive compensation 463,305 48,500 Total share repurchases 1,849,498 198,500 Shares issued for stock options and incentive compensation (746,441 ) (31,060 ) Net change 1,103,057 $ 167,440

NONCONTROLLING INTEREST (Tables

NONCONTROLLING INTEREST (Tables)	3 Months Ended
	Mar. 31, 2019
Noncontrolling Interest [Line Items]
Schedule of Activity Relating to the Noncontrolling Interest	A roll-forward showing the 2019 activity relating to the noncontrolling interest follows: Noncontrolling Interest Balance, December 31, 2018 $ 8,545 Net loss attributable to noncontrolling interest (477 ) Other comprehensive income - foreign currency translation adjustments 555 Balance, March 31, 2019 $ 8,623

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Schedule of 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 March 31, 2019 April 1, 2018 Common Stock Class B Common Stock Common Stock Class B Common Stock Basic earnings per share: Numerator: Allocation of distributed earnings (cash dividends paid) $ 106,700 $ 39,763 $ 98,170 $ 36,130 Allocation of undistributed earnings 115,223 42,672 157,952 57,951 Total earnings—basic $ 221,923 $ 82,435 $ 256,122 $ 94,081 Denominator (shares in thousands): Total weighted-average shares—basic 148,709 60,614 150,114 60,620 Earnings Per Share—basic $ 1.49 $ 1.36 $ 1.71 $ 1.55 Diluted earnings per share: Numerator: Allocation of total earnings used in basic computation $ 221,923 $ 82,435 $ 256,122 $ 94,081 Reallocation of total earnings as a result of conversion of Class B common stock to Common stock 82,435 — 94,081 — Reallocation of undistributed earnings — (209 ) — (343 ) Total earnings—diluted $ 304,358 $ 82,226 $ 350,203 $ 93,738 Denominator (shares in thousands): Number of shares used in basic computation 148,709 60,614 150,114 60,620 Weighted-average effect of dilutive securities: Conversion of Class B common stock to Common shares outstanding 60,614 — 60,620 — Employee stock options 582 — 844 — Performance and restricted stock units 422 — 377 — Total weighted-average shares—diluted 210,327 60,614 211,955 60,620 Earnings Per Share—diluted $ 1.45 $ 1.36 $ 1.65 $ 1.55

OTHER (INCOME) EXPENSE, NET (Ta

OTHER (INCOME) EXPENSE, NET (Tables)	3 Months Ended
	Mar. 31, 2019
Other Income and Expenses [Abstract]
Schedule of Other (Income) Expense, Net	A summary of the components of other (income) expense, net is as follows: Three Months Ended March 31, 2019 April 1, 2018 Write-down of equity investments in partnerships qualifying for tax credits $ 1,152 $ 434 Non-service cost components of net periodic benefit cost relating to pension and other post-retirement benefit plans 4,337 (98 ) Other (income) expense, net (12 ) 1,606 Total $ 5,477 $ 1,942

SUPPLEMENTAL BALANCE SHEET IN_2

SUPPLEMENTAL BALANCE SHEET INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Supplemental Balance Sheet Information	Supplemental balance sheet information related to leases as of March 31, 2019 was as follows: Leases Classification March 31, 2019 Assets Operating lease ROU assets Other assets (non-current) $ 219,138 Finance lease ROU assets, at cost Property, plant and equipment, gross 99,551 Accumulated amortization Accumulated depreciation (1,364 ) Finance lease ROU assets, net Property, plant and equipment, net $ 98,187 Total leased assets $ 317,325 Liabilities Current Operating Accrued liabilities $ 30,178 Finance Current portion of long-term debt 3,688 Non-current Operating Other long-term liabilities 179,636 Finance Long-term debt 74,497 Total lease liabilities $ 287,999 March 31, 2019 December 31, 2018 Inventories: Raw materials $ 245,848 $ 237,086 Goods in process 147,881 107,139 Finished goods 569,486 618,798 Inventories at FIFO 963,215 963,023 Adjustment to LIFO (171,926 ) (178,144 ) Total inventories $ 791,289 $ 784,879 Prepaid expenses and other: Prepaid expenses $ 47,735 $ 68,490 Assets held for sale 23,421 23,421 Other current assets 194,383 180,248 Total prepaid expenses and other $ 265,539 $ 272,159 Property, plant and equipment: Land $ 103,116 $ 102,074 Buildings 1,219,652 1,211,011 Machinery and equipment 2,981,331 2,988,027 Construction in progress 268,202 280,559 Property, plant and equipment, gross 4,572,301 4,581,671 Accumulated depreciation (2,464,226 ) (2,451,377 ) Property, plant and equipment, net $ 2,108,075 $ 2,130,294 Other assets: Capitalized software, net $ 133,328 $ 126,379 Operating lease ROU assets 219,138 — Other non-current assets 107,288 126,605 Total other assets $ 459,754 $ 252,984 Accrued liabilities: Payroll, compensation and benefits $ 124,116 $ 180,546 Advertising, promotion and product allowances 345,642 293,642 Operating lease liabilities 30,178 — Liabilities held for sale 596 596 Other 150,125 204,379 Total accrued liabilities $ 650,657 $ 679,163 Other long-term liabilities: Post-retirement benefits liabilities $ 193,648 $ 195,166 Pension benefits liabilities 65,751 66,379 Operating lease liabilities 179,636 — Other 179,098 184,503 Total other long-term liabilities $ 618,133 $ 446,048 Accumulated other comprehensive loss: Foreign currency translation adjustments $ (93,803 ) $ (96,678 ) Pension and post-retirement benefit plans, net of tax (200,319 ) (205,230 ) Cash flow hedges, net of tax (54,398 ) (54,872 ) Total accumulated other comprehensive loss $ (348,520 ) $ (356,780 )

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - RECENT ACCOUNTING PRONOUNCEMENTS (Details) - USD ($)	3 Months Ended
	Apr. 01, 2018	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease ROU assets		$ 219,138,000		$ 0
Total operating lease liabilities		209,814,000
Tax Cuts and Jobs Act of 2017, Reclassification from AOCI to Retained Earnings	$ 47,656,000
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease ROU assets			$ 227,258,000
Total operating lease liabilities			216,966,000
Cumulative effect of new accounting principle in period of adoption		3,913,000
Accounting Standards Update 2016-02 | Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of new accounting principle in period of adoption		$ 3,913,000	$ 3,913,000

BUSINESS ACQUISITIONS - PIRATE

BUSINESS ACQUISITIONS - PIRATE BRANDS NARRATIVE (Details) - Pirate Brands $ in Thousands	Oct. 17, 2018USD ($)
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	$ 423,002
Finite-Lived Trademarks, Gross	272,000
Finite-Lived Customer Relationships, Gross	$ 17,300
Trademarks
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life	45 years
Minimum | Customer Relationships
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life	16 years
Maximum | Customer Relationships
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life	18 years

BUSINESS ACQUISITIONS - PIRAT_2

BUSINESS ACQUISITIONS - PIRATE BRANDS ASSETS ACQUIRED AND LIABILITIES ASSUMED ALLOCATION (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Oct. 17, 2018
Business Acquisition [Line Items]
Goodwill	$ 1,803,601	$ 1,801,103
Pirate Brands
Business Acquisition [Line Items]
Inventories			$ 4,663
Plant, property and equipment, net			48
Goodwill			129,991
Other intangible assets			289,300
Accrued liabilities			1,000
Net assets acquired			$ 423,002

BUSINESS ACQUISITIONS - AMPLIFY

BUSINESS ACQUISITIONS - AMPLIFY SNACK BRANDS, INC NARRATIVE (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 31, 2018	Apr. 01, 2018
Business Acquisition [Line Items]
Business Acquisition, Equity Interests Received, Common Stock, Value	$ 907,766
Amplify Snack Brands, Inc.
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	$ 968,781
Business Acquisition, Share Price	$ 12
Finite-Lived Trademarks, Gross	$ 648,000
Finite-Lived Customer Relationships, Gross	$ 34,000
Business Combination, Acquisition Related Costs		$ 20,577
Minimum | Trademarks | Amplify Snack Brands, Inc.
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life	28 years
Minimum | Customer Relationships | Amplify Snack Brands, Inc.
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life	14 years
Maximum | Trademarks | Amplify Snack Brands, Inc.
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life	38 years
Maximum | Customer Relationships | Amplify Snack Brands, Inc.
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life	18 years

BUSINESS ACQUISITIONS - AMPLI_2

BUSINESS ACQUISITIONS - AMPLIFY SNACK BRANDS, INC ASSETS ACQUIRED AND LIABILITIES ASSUMED ALLOCATION (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Jan. 31, 2018
Business Acquisition [Line Items]
Goodwill	$ 1,803,601	$ 1,801,103
Amplify Snack Brands, Inc.
Business Acquisition [Line Items]
Purchase Consideration, Net of Cash Acquired			$ 53,324
Accounts receivable			40,763
Other current assets			34,593
Plant, property and equipment, net			67,989
Goodwill			966,389
Other intangible assets			682,000
Other non-current assets			1,049
Accounts payable			(32,394)
Accrued liabilities			(132,519)
Current debt			(610,844)
Other current liabilities			(2,931)
Non-current deferred income taxes			(93,489)
Non-current liabilities			(5,149)
Net assets acquired			$ 915,457

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - SCHEDULE OF CHANGES IN CARRYING VALUE OF GOODWILL BY REPORTABLE SEGMENT (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 1,801,103
Foreign Currency Translation	2,498
Goodwill, ending balance	1,803,601
Operating Segments | North America
Goodwill [Roll Forward]
Goodwill, beginning balance	1,782,845
Foreign Currency Translation	2,286
Goodwill, ending balance	1,785,131
Operating Segments | International and Other
Goodwill [Roll Forward]
Goodwill, beginning balance	18,258
Foreign Currency Translation	212
Goodwill, ending balance	$ 18,470

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - SCHEDULE OF GROSS CARRYING AMOUNT AND ACCUMULATED AMORTIZATION FOR EACH MAJOR CLASS OF INTANGIBLE ASSET (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 1,355,901	$ 1,353,936
Finite-lived intangible assets, accumulated amortization	(122,783)	(110,283)
Total other intangible assets	1,267,833	1,278,292
Trademarks
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets, excluding goodwill	34,715	34,639
Trademarks
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	1,174,817	1,173,770
Finite-lived intangible assets, accumulated amortization	(70,271)	(60,995)
Customer-related
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	164,606	163,860
Finite-lived intangible assets, accumulated amortization	(36,485)	(33,516)
Patents
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	16,478	16,306
Finite-lived intangible assets, accumulated amortization	$ (16,027)	$ (15,772)

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - NARRATIVE (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangible Assets	$ 12,238	$ 8,451

SHORT AND LONG-TERM DEBT - NARR

SHORT AND LONG-TERM DEBT - NARRATIVE (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Line of Credit Facility [Line Items]
Short-term debt	$ 1,168,780,000	$ 1,197,929,000
Commercial Paper
Line of Credit Facility [Line Items]
Short-term debt	$ 1,043,554,000	$ 1,084,740,000
Short-term debt, weighted average interest rate	2.50%	2.40%
Revolving Credit Facility | Foreign Line of Credit
Line of Credit Facility [Line Items]
Short-term foreign bank loans against the lines of credit	$ 125,226,000	$ 113,189,000
Line of Credit | Revolving Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,400,000,000

SHORT AND LONG-TERM DEBT - SCHE

SHORT AND LONG-TERM DEBT - SCHEDULE OF LONG-TERM DEBT INSTRUMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total long-term debt	$ 3,239,870	$ 3,259,667
Net impact of interest rate swaps, debt issuance costs and unamortized debt discounts	(16,669)	(20,667)
Less—current portion	3,553	5,387
Long-term portion	3,236,317	3,254,280
Corporate Debt Securities | 2.90% Notes due 2020
Debt Instrument [Line Items]
Total long-term debt	350,000	350,000
Corporate Debt Securities | 4.125% Notes due 2020
Debt Instrument [Line Items]
Total long-term debt	350,000	350,000
Corporate Debt Securities | 3.10% Notes due 2021
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 | 3.375% Notes due 2023
Debt Instrument [Line Items]
Total long-term debt	500,000	500,000
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	$ 78,185	$ 101,980

SHORT AND LONG-TERM DEBT - LONG

SHORT AND LONG-TERM DEBT - LONG TERM DEBT INTEREST RATES (Details) - Corporate Debt Securities	Mar. 31, 2019	Dec. 31, 2018
2.90% Notes due 2020
Debt Instrument [Line Items]
Interest rate, stated percentage	2.90%	2.90%
4.125% Notes due 2020
Debt Instrument [Line Items]
Interest rate, stated percentage	4.125%	4.125%
3.10% Notes due 2021
Debt Instrument [Line Items]
Interest rate, stated percentage	3.10%	3.10%
8.8% Debentures due 2021
Debt Instrument [Line Items]
Interest rate, stated percentage	8.80%	8.80%
3.375% Notes due 2023
Debt Instrument [Line Items]
Interest rate, stated percentage	3.375%	3.375%
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 - SC_2

SHORT AND LONG-TERM DEBT - SCHEDULE OF NET INTEREST EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Debt Disclosure [Abstract]
Interest expense	$ 40,663	$ 32,853
Capitalized interest	1,257	1,299
Interest expense	39,406	31,554
Interest income	(1,948)	(2,215)
Interest expense, net	$ 37,458	$ 29,339

DERIVATIVE INSTRUMENTS - NARRAT

DERIVATIVE INSTRUMENTS - NARRATIVE (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018	Dec. 31, 2018
Derivative [Line Items]
Cash flow hedge gain (loss) to be reclassified within twelve months	$ (8,287)
Commodities futures and options | Non-designated Hedges
Derivative [Line Items]
Derivative, notional amount	$ 1,166,051		$ 693,463
Commodities futures and options | Non-designated Hedges | Minimum
Derivative [Line Items]
Derivative, term of contract	3 months
Commodities futures and options | Non-designated Hedges | Maximum
Derivative [Line Items]
Derivative, term of contract	24 months
Foreign exchange contracts
Derivative [Line Items]
Minimum length of time, hedged in cash flow hedge	3 months
Maximum length of time, hedged in cash flow hedge	12 months
Foreign exchange contracts | Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Derivative, notional amount	$ 66,330		29,458
Foreign exchange contracts | Non-designated Hedges
Derivative [Line Items]
Derivative, notional amount	7,933		11,072
Interest rate swap agreements | Designated as Hedging Instrument | Fair Value Hedging
Derivative [Line Items]
Derivative, notional amount	350,000		350,000
Deferred compensation derivatives
Derivative [Line Items]
Derivative, notional amount	$ 23,501		$ 33,168
Deferred compensation derivatives | Non-designated Hedges | Minimum
Derivative [Line Items]
Derivative, term of contract	3 months
Deferred compensation derivatives | Non-designated Hedges | Maximum
Derivative [Line Items]
Derivative, term of contract	12 months
Interest rate swap | Designated as Hedging Instrument | Fair Value Hedging | Interest Expense
Derivative [Line Items]
Fair value hedges, pre-tax (expense) benefit	$ (630)	$ 278

DERIVATIVE INSTRUMENTS - SCHEDU

DERIVATIVE INSTRUMENTS - SCHEDULE OF THE CLASSIFICATION OF DERIVATIVE ASSETS AND LIABILITIES WITHIN THE CONSOLIDATED BALANCE SHEETS (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Derivative asset	$ 11,518	$ 10,694
Derivative liability	1,507	10,799
Designated as Hedging Instrument | Cash Flow Hedges | Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Derivative asset	2,065	3,394
Derivative liability	786	485
Designated as Hedging Instrument | Fair Value Hedging | Interest rate swap
Derivatives, Fair Value [Line Items]
Derivative asset	504
Derivative liability		(4,832)
Designated as Hedging Instrument | Fair Value Hedging | Interest rate swap agreements
Derivatives, Fair Value [Line Items]
Derivative asset	504	0
Derivative liability	0	4,832
Non-designated Hedges
Derivatives, Fair Value [Line Items]
Derivative asset	8,949	7,300
Derivative liability	721	5,482
Non-designated Hedges | Commodities futures and options
Derivatives, Fair Value [Line Items]
Derivative asset	5,862	7,230
Derivative liability	552	262
Gross derivative assets, included within derivative liabilities	94,078	63,978
Derivative liability, gross liabilities	89,233	57,351
Non-designated Hedges | Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Derivative asset	44	70
Derivative liability	169	484
Non-designated Hedges | Deferred compensation derivatives
Derivatives, Fair Value [Line Items]
Derivative asset	3,043	0
Derivative liability	$ 0	$ 4,736

DERIVATIVE INSTRUMENTS - SCHE_2

DERIVATIVE INSTRUMENTS - SCHEDULE OF THE EFFECT OF DERIVATIVE INSTRUMENTS ON THE CONSOLIDATED STATEMENTS OF INCOME (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Derivative [Line Items]
Gains (losses) recognized in income	$ (23,383)	$ 66,045
Gains (losses) recognized in other comprehensive income (“OCI”)	(789)	4,245
Commodities futures and options
Derivative [Line Items]
Gains (losses) recognized in income	(26,641)	66,590
Foreign exchange contracts
Derivative [Line Items]
Gains (losses) recognized in income	215	(152)
Interest rate swap agreements
Derivative [Line Items]
Gains (losses) recognized in income	0	0
Deferred compensation derivatives
Derivative [Line Items]
Gains (losses) recognized in income	3,043	(393)
Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Gains (losses) recognized in other comprehensive income (“OCI”)	(789)	4,245
Gains (losses) reclassified from accumulated OCI into income (effective portion)	(1,438)	(2,260)
Designated as Hedging Instrument | Cash Flow Hedges | Commodities futures and options
Derivative [Line Items]
Gains (losses) recognized in other comprehensive income (“OCI”)	0	0
Gains (losses) reclassified from accumulated OCI into income (effective portion)	0	0
Designated as Hedging Instrument | Cash Flow Hedges | Foreign exchange contracts
Derivative [Line Items]
Gains (losses) recognized in other comprehensive income (“OCI”)	(789)	4,245
Gains (losses) reclassified from accumulated OCI into income (effective portion)	931	136
Designated as Hedging Instrument | Cash Flow Hedges | Interest rate swap agreements
Derivative [Line Items]
Gains (losses) recognized in other comprehensive income (“OCI”)	0	0
Gains (losses) reclassified from accumulated OCI into income (effective portion)	(2,369)	(2,396)
Designated as Hedging Instrument | Cash Flow Hedges | Deferred compensation derivatives
Derivative [Line Items]
Gains (losses) recognized in other comprehensive income (“OCI”)	0	0
Gains (losses) reclassified from accumulated OCI into income (effective portion)	$ 0	$ 0

DERIVATIVE INSTRUMENTS - SCHE_3

DERIVATIVE INSTRUMENTS - SCHEDULE OF CUMULATIVE BASIS ADJUSTMENTS FOR INTEREST RATE SWAP DERIVATIVES (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Derivative asset	$ 11,518	$ 10,694
Derivative liability	1,507	10,799
Fair Value Hedging | Interest rate swap | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Net	(349,496)	(354,832)
Derivative asset	$ 504
Derivative liability		$ (4,832)

FAIR VALUE MEASUREMENTS - SCHED

FAIR VALUE MEASUREMENTS - SCHEDULE OF ASSETS AND LIABILITIES MEASURED AT FAIR VALUE (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	$ 11,518	$ 10,694
Derivative liability	1,507	10,799
Fair Value, Measurements, Recurring | Foreign exchange contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	2,109	3,464
Derivative liability	955	969
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	2,109	3,464
Derivative liability	955	969
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	504
Derivative liability		4,832
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
Derivative liability		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	504
Derivative liability		4,832
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
Derivative liability		0
Fair Value, Measurements, Recurring | Deferred compensation derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	3,043
Derivative liability		4,736
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
Derivative liability		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	3,043
Derivative liability		4,736
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
Derivative liability		0
Fair Value, Measurements, Recurring | Commodities futures and options
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	5,862	7,230
Derivative liability	552	262
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	5,862	7,230
Derivative liability	552	262
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 - SCH_2

FAIR VALUE MEASUREMENTS - SCHEDULE OF FAIR VALUES AND CARRYING VALUES OF LONG-TERM DEBT (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of long-term debt	$ 3,553	$ 5,387
Long-term portion	3,236,317	3,254,280
Long-term debt	3,239,870	3,259,667
Significant other observable inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of long-term debt, Fair value	3,553	5,387
Long-term debt, Fair value	3,299,257	3,228,877
Total long-term debt, Fair Value	3,302,810	3,234,264
Current portion of long-term debt	3,553	5,387
Long-term portion	3,236,317	3,254,280
Long-term debt	$ 3,239,870	$ 3,259,667

FAIR VALUE MEASUREMENTS - NARRA

FAIR VALUE MEASUREMENTS - NARRATIVE (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Significant other unobservable inputs (Level 3)
Derivative [Line Items]
Fair Value, Net Asset (Liability)	$ 0	$ 0

LEASES - SCHEDULE OF COMPONENTS

LEASES - SCHEDULE OF COMPONENTS OF LEASE EXPENSE (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating lease cost	$ 10,214
Amortization of ROU assets	1,934
Interest on lease liabilities	1,101
Net lease cost	$ 13,249

LEASES - SCHEDULE OF INFORMATIO

LEASES - SCHEDULE OF INFORMATION REGARDING OUR LEASE TERMS AND DISCOUNT RATES (Details)	Mar. 31, 2019
Leases [Abstract]
Operating leases, Weighted-average remaining lease term	14 years 9 months 18 days
Finance leases, Weighted-average remaining lease term	32 years
Operating leases, Weighted-average discount rate	3.90%
Finance leases, Weighted-average discount rate	6.00%

LEASES - SUPPLEMENTAL BALANCE S

LEASES - SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Operating lease ROU assets	$ 219,138,000	$ 0
Finance lease ROU assets, at cost	99,551,000
Accumulated amortization	(1,364,000)
Finance lease ROU assets, net	98,187,000
Total leased assets	317,325,000
Operating lease liabilities, current	30,178,000	0
Finance lease liabilities, current	3,688,000
Operating lease liabilities, non-current	179,636,000	$ 0
Finance lease liabilities, non-current	74,497,000
Total leased assets	$ 287,999,000

LEASES - SCHEDULE OF MATURITIES

LEASES - SCHEDULE OF MATURITIES OF LEASE LIABILITIES (Details) $ in Thousands	Mar. 31, 2019USD ($)
Operating leases
2019 (remaining of year)	$ 28,698
2020	24,025
2021	16,876
2022	15,514
2023	13,507
Thereafter	185,621
Total lease payments	284,241
Less: Imputed interest	74,427
Total operating lease liabilities	209,814
Finance leases
2019 (remaining of year)	5,594
2020	6,303
2021	4,996
2022	4,491
2023	4,595
Thereafter	169,941
Total lease payments	195,920
Less: Imputed interest	117,735
Total finance lease liabilities	78,185
2019 (remaining of year)	34,292
2020	30,328
2021	21,872
2022	20,005
2023	18,102
Thereafter	355,562
Total lease payments	480,161
Less: Imputed interest	192,162
Total lease liabilities	$ 287,999

LEASES - SCHEDULE OF SUPPLEMENT

LEASES - SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating cash flows from operating leases	$ 9,524
Operating cash flows from finance leases	1,101
Financing cash flows from finance leases	994
Operating leases	717
Finance leases	$ 3,172

ASSETS AND LIABILITIES HELD F_3

ASSETS AND LIABILITIES HELD FOR SALE (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property, plant and equipment, net	$ 20,905
Other assets	2,516
Assets	23,421	$ 23,421
Accounts payable and accrued liabilities	596
Liabilities	$ 596	$ 596

BUSINESS REALIGNMENT ACTIVITI_3

BUSINESS REALIGNMENT ACTIVITIES - SCHEDULE OF BUSINESS REALIGNMENT ACTIVITY (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Restructuring Cost and Reserve [Line Items]
Business realignment costs	$ 484	$ 15,951
Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	484	14,853
Operational Optimization Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs		1,098
Severance | Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	0	4,048
Accelerated depreciation and amortization | Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	0	717
Other program costs | Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	484	10,088
Other program costs | Operational Optimization Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	0	1,098
Cost of Sales
Restructuring Cost and Reserve [Line Items]
Business realignment costs	0	2,214
Selling, marketing and administrative
Restructuring Cost and Reserve [Line Items]
Business realignment costs	422	5,513
Business realignment charges
Restructuring Cost and Reserve [Line Items]
Business realignment costs	$ 62	$ 8,224

BUSINESS REALIGNMENT ACTIVITI_4

BUSINESS REALIGNMENT ACTIVITIES - NARRATIVE (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Apr. 01, 2018	Dec. 31, 2018	Dec. 31, 2017	Feb. 28, 2017
Restructuring Cost and Reserve [Line Items]
Business realignment costs	$ 484	$ 15,951
Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	$ 336,779
Long-lived asset impairment charges			$ 16,300	$ 208,712
Restructuring and Related Cost, Number of Positions Eliminated, Inception to Date Percent	15.00%
Business realignment costs	$ 484	14,853
Margin for Growth Program | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	47,932
Business realignment costs	0	4,048
Margin for Growth Program | Other program costs
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	63,835
Business realignment costs	484	10,088
Operational Optimization Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs		1,098
Operational Optimization Program | Other program costs
Restructuring Cost and Reserve [Line Items]
Business realignment costs	$ 0	$ 1,098
Business realignment charges | Geographic Concentration Risk | North America | Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Concentration Risk, Percentage	60.00%
Business realignment charges | Geographic Concentration Risk | International and Other | Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Concentration Risk, Percentage	40.00%
Minimum | Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	$ 340,000				$ 375,000
Restructuring and Related Cost, Expected Cost, Cash Portion	97,000
Maximum | Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	355,000				$ 425,000
Restructuring and Related Cost, Expected Cost, Cash Portion	$ 110,000

BUSINESS REALIGNMENT ACTIVITI_5

BUSINESS REALIGNMENT ACTIVITIES - SCHEDULE OF LIABILITY ACTIVITY FOR COSTS QUALIFYING AS EXIT AND DISPOSAL COSTS (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Restructuring Reserve [Roll Forward]
Liability balance at December 31, 2018	$ 14,605
2019 business realignment charges	186
Cash payments	(5,655)
Liability balance at March 31, 2019	$ 9,136

INCOME TAXES - NARRATIVE (Detai

INCOME TAXES - NARRATIVE (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Apr. 01, 2018	Dec. 31, 2018	Dec. 31, 2017
Income Tax Contingency [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
Effective Income Tax Rate Reconciliation, Percent	23.20%	21.90%
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	$ 9,807
Tax Cuts and Jobs Act of 2017, change in tax rate, income tax expense				$ 32,500
Tax Cuts and Jobs Act of 2017, measurement period adjustment, income tax expense (benefit)			$ 19,500

PENSION AND OTHER POST-RETIRE_3

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - SCHEDULE OF COMPONENTS OF NET PERIODIC BENEFIT COST (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Pension Benefits
Amounts recognized in net periodic benefit cost
Service cost	$ 5,207	$ 5,335
Interest cost	9,156	7,839
Expected return on plan assets	(13,496)	(14,766)
Amortization of prior service (credit) cost	(1,809)	(1,799)
Amortization of net loss (gain)	8,420	6,687
Total net periodic benefit cost	7,478	3,296
Other Benefits
Amounts recognized in net periodic benefit cost
Service cost	38	58
Interest cost	1,959	1,732
Expected return on plan assets	0	0
Amortization of prior service (credit) cost	203	209
Amortization of net loss (gain)	(96)	0
Total net periodic benefit cost	$ 2,104	$ 1,999

PENSION AND OTHER POST-RETIRE_4

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - NARRATIVE (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Contributions by Employer	$ 898	$ 1,005
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Contributions by Employer	$ 3,763	$ 6,444

STOCK COMPENSATION PLANS - SCHE

STOCK COMPENSATION PLANS - SCHEDULE OF COMPENSATION EXPENSE AND INCOME TAX BENEFITS FOR STOCK-BASED COMPENSATION PROGRAMS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Pre-tax compensation expense	$ 10,556	$ 10,458
Related income tax benefit	$ 2,322	$ 2,604

STOCK COMPENSATION PLANS - NARR

STOCK COMPENSATION PLANS - NARRATIVE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized	$ 92,298
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition	2 years 3 months 18 days
Intrinsic value of share-based liabilities paid, combined with the fair value of shares vested (in millions of dollars)	$ 36,003	$ 15,605
Deferred performance stock units, deferred restricted stock units, and directors' fees and accumulated dividend amounts representing deferred stock units outstanding	347,073
Employee stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 15.25	$ 15.58
Intrinsic value of options exercised (in millions of dollars)	$ 17,598	$ 9,145
Performance stock units and restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, conversion basis (shares)	1

STOCK COMPENSATION PLANS - SC_2

STOCK COMPENSATION PLANS - SCHEDULE OF STOCK OPTION ACTIVITY (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding shares at beginning of year (shares)	5,394,382
Granted (shares)	1,640
Exercised (shares)	(603,525)
Forfeited (shares)	(16,263)
Outstanding as of March 31, 2019 (shares)	4,776,234
Options exercisable as of March 31, 2019 (shares)	3,589,392
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding at beginning of year (USD per share)	$ 94.28
Granted (USD per share)	109.74
Exercises (USD per share)	81.10
Forfeited (USD per share)	104.90
Outstanding as of March 31, 2019 (USD per share)	95.91
Options exercisable as of March 31, 2019 (USD per share)	$ 94.22
Options outstanding, weighted-average remaining contractual term	5 years 7 months 6 days	5 years 7 months 6 days
Options exercisable, weighted aver remaining contractual term	4 years 8 months 12 days
Aggregate intrinsic value of options outstanding	$ 90,361
Aggregate intrinsic value of options exercisable	$ 73,967

STOCK COMPENSATION PLANS - SC_3

STOCK COMPENSATION PLANS - SCHEDULE OF FAIR VALUE WEIGHTED-AVERAGE ASSUMPTIONS (Details)	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Dividend yields	2.70%	2.30%
Expected volatility	17.00%	16.60%
Risk-free interest rates	2.50%	2.80%
Expected term in years	6 years 6 months	6 years 7 months 6 days

STOCK COMPENSATION PLANS - SC_4

STOCK COMPENSATION PLANS - SCHEDULE OF PSUs AND RSUs ACTIVITY (Details) - Performance and restricted stock units - $ / shares	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at beginning of year (shares)	999,018
Granted (shares)	433,109	302,947
Performance assumption change (shares)	(71,694)
Vested (shares)	(328,136)
Forfeited (shares)	(9,198)
Outstanding at March 31, 2019 (shares)	1,023,099
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)	$ 101.57
Weighted-average fair value at date of grant (USD per share)	113.65	$ 98.27
Performance assumption change	137.34
Vested (USD per share)	98.05
Forfeited (USD per share)	101
Outstanding at March 31, 2019 (USD per share)	$ 105.65

STOCK COMPENSATION PLANS - SC_5

STOCK COMPENSATION PLANS - SCHEDULE OF PSUs AND RSUS FAIR VALUE WEIGHTED-AVERAGE ASSUMPTIONS (Details) - $ / shares	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yields	2.70%	2.30%
Performance and restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (shares)	433,109	302,947
Weighted-average fair value at date of grant (USD per share)	$ 113.65	$ 98.27
Estimated values (USD per share)	$ 48.40	$ 29.17
Dividend yields	2.60%	2.60%
Expected volatility	20.30%	20.40%

SEGMENT INFORMATION - NARRATIVE

SEGMENT INFORMATION - NARRATIVE (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Apr. 01, 2018	Dec. 31, 2019
North America | Geographic Concentration Risk | Sales Revenue, Goods, Net
Revenue, Major Customer [Line Items]
Concentration Risk, Percentage	90.00%
Operating Segments | Commodities futures and options
Revenue, Major Customer [Line Items]
Net gains (losses) on commodity derivative positions reclassified from unallocated to segment income	$ 1,326	$ (29,660)
Scenario, Forecast | Operating Segments | Commodities futures and options
Revenue, Major Customer [Line Items]
Net gains (losses) on commodity derivative positions reclassified from unallocated to segment income			$ 4,265
Cost of Sales | Commodities futures and options
Revenue, Major Customer [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 12,351

SEGMENT INFORMATION - SCHEDULE

SEGMENT INFORMATION - SCHEDULE OF NET SALES AND EARNINGS BY SEGMENT (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Segment Reporting Information [Line Items]
Net sales	$ 2,016,488	$ 1,971,959
Operating Income (Loss)	438,869	480,512
Costs associated with business realignment activities	484	15,951
Interest expense, net	37,458	29,339
Other (income) expense, net	5,477	1,942
Income before income taxes	395,934	449,231
Operating Segments
Segment Reporting Information [Line Items]
Operating Income (Loss)	585,004	552,106
Operating Segments | North America
Segment Reporting Information [Line Items]
Net sales	1,806,958	1,751,688
Operating Income (Loss)	564,761	534,426
Operating Segments | International and Other
Segment Reporting Information [Line Items]
Net sales	209,530	220,271
Operating Income (Loss)	20,243	17,680
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Operating Income (Loss)	114,504	123,967
Segment Reconciling Items
Segment Reporting Information [Line Items]
Derivative, Gain (Loss) on Derivative, Net	27,967	(96,250)
Costs associated with business realignment activities	484	15,951
Acquisition-related costs	$ 3,180	$ 27,926

SEGMENT INFORMATION - SCHEDUL_2

SEGMENT INFORMATION - SCHEDULE OF UNALLOCATED MARK-TO-MARKET (GAINS) LOSSES ON COMMODITY DERIVATIVES (Details) - Commodities futures and options - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Segment Reconciling Items
Segment Reporting Information [Line Items]
Net losses (gains) on mark-to-market valuation of commodity derivative positions recognized in unallocated derivative (gains) losses	$ 27,967	$ (96,250)
Operating Segments
Segment Reporting Information [Line Items]
Net gains (losses) on commodity derivative positions reclassified from unallocated to segment income	1,326	(29,660)
Non-designated Hedges
Segment Reporting Information [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 26,641	$ 66,590

SEGMENT INFORMATION - SCHEDUL_3

SEGMENT INFORMATION - SCHEDULE OF DEPRECIATION AND AMORTIZATION EXPENSE INCLUDED WITHIN SEGMENT INCOME (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 72,329	$ 74,416
Operating Segments | North America
Segment Reporting Information [Line Items]
Depreciation and amortization	53,945	47,985
Operating Segments | International and Other
Segment Reporting Information [Line Items]
Depreciation and amortization	7,350	14,288
Corporate, Non-Segment | Corporate (1)
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 11,034	$ 12,143

TREASURY STOCK ACTIVITY - SCHED

TREASURY STOCK ACTIVITY - SCHEDULE OF TREASURY STOCK ACTIVITY (Details)	3 Months Ended
	Mar. 31, 2019USD ($)shares
Class of Stock [Line Items]
Treasury Stock, Shares, Acquired | shares	1,849,498
Stock Issued During Period, Shares, Share-based Compensation, Gross | shares	(746,441)
Treasury Stock Change in Shares	$ 1,103,057
Stock Repurchased During Period, Value	198,500,000
Stock Issued During Period, Value, Share-based Compensation, Gross	(31,060,000)
Treasury Stock Change in Value	$ 167,440,000
Common stock
Class of Stock [Line Items]
Treasury Stock, Shares, Acquired | shares	1,386,193
Stock Repurchased During Period, Value	$ 150,000,000
Employee stock options
Class of Stock [Line Items]
Treasury Stock, Shares, Acquired | shares	463,305
Stock Repurchased During Period, Value	$ 48,500,000

TREASURY STOCK ACTIVITY - NARRA

TREASURY STOCK ACTIVITY - NARRATIVE (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jul. 24, 2018	Oct. 26, 2017
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 410,000
2017 Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount			$ 100,000
2018 Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount		$ 500,000

NONCONTROLLING INTEREST - NARRA

NONCONTROLLING INTEREST - NARRATIVE (Details)	Mar. 31, 2019
Lotte Shanghai Food Company [Member] | Noncontrolling Interest in Subsidiary
Noncontrolling Interest, Ownership Percentage by Parent	50.00%

NONCONTROLLING INTEREST - SCHED

NONCONTROLLING INTEREST - SCHEDULE OF ACTIVITY RELATING TO THE NONCONTROLLING INTEREST (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Noncontrolling Interest [Line Items]
Balance, December 31, 2018	$ 8,545
Net (loss) income attributable to noncontrolling interest	(477)	$ 516
Balance, March 31, 2019	8,623
Noncontrolling Interest in Subsidiary
Noncontrolling Interest [Line Items]
Balance, December 31, 2018	8,545
Net (loss) income attributable to noncontrolling interest	(477)
Other comprehensive loss - foreign currency translation adjustments	555
Balance, March 31, 2019	$ 8,623

EARNINGS PER SHARE - SCHEDULE O

EARNINGS PER SHARE - SCHEDULE OF BASIC AND DILUTED EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Common stock
Basic earnings per share:
Allocation of distributed earnings (cash dividends paid)	$ 106,700	$ 98,170
Allocation of undistributed earnings	115,223	157,952
Total earnings—basic	$ 221,923	$ 256,122
Total weighted-average shares—basic (shares)	148,709	150,114
Earnings Per Share—basic (USD per share)	$ 1.49	$ 1.71
Diluted earnings per share:
Allocation of total earnings used in basic computation	$ 221,923	$ 256,122
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock	82,435	94,081
Reallocation of undistributed earnings	0	0
Total earnings—diluted	$ 304,358	$ 350,203
Conversion of Class B common stock to Common shares outstanding	60,614	60,620
Total weighted-average shares—diluted (shares)	210,327	211,955
Earnings Per Share—diluted (USD per share)	$ 1.45	$ 1.65
Common stock | Employee stock options
Diluted earnings per share:
Incremental common shares attributable to dilutive effect of share-based payment arrangements	582	844
Common stock | Performance and restricted stock units
Diluted earnings per share:
Incremental common shares attributable to dilutive effect of share-based payment arrangements	422	377
Class B common stock
Basic earnings per share:
Allocation of distributed earnings (cash dividends paid)	$ 39,763	$ 36,130
Allocation of undistributed earnings	42,672	57,951
Total earnings—basic	$ 82,435	$ 94,081
Total weighted-average shares—basic (shares)	60,614	60,620
Earnings Per Share—basic (USD per share)	$ 1.36	$ 1.55
Diluted earnings per share:
Allocation of total earnings used in basic computation	$ 82,435	$ 94,081
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock	0	0
Reallocation of undistributed earnings	(209)	(343)
Total earnings—diluted	$ 82,226	$ 93,738
Conversion of Class B common stock to Common shares outstanding	0	0
Total weighted-average shares—diluted (shares)	60,614	60,620
Earnings Per Share—diluted (USD per share)	$ 1.36	$ 1.55
Class B common stock | Employee stock options
Diluted earnings per share:
Incremental common shares attributable to dilutive effect of share-based payment arrangements	0	0
Class B common stock | Performance and restricted stock units
Diluted earnings per share:
Incremental common shares attributable to dilutive effect of share-based payment arrangements	0	0

EARNINGS PER SHARE - NARRATIVE

EARNINGS PER SHARE - NARRATIVE (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
Employee stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (shares)	1,476	3,689

OTHER (INCOME) EXPENSE, NET - S

OTHER (INCOME) EXPENSE, NET - SCHEDULE OF OTHER (INCOME) AND EXPENSE, NET (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2018
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Write-down of equity investments in partnerships qualifying for tax credits	$ 1,152	$ 434
Non-service cost components of net periodic benefit cost relating to pension and other post-retirement benefit plans	4,337	(98)
Other (income) expense, net	(12)	1,606
Total	$ 5,477	$ 1,942

SUPPLEMENTAL BALANCE SHEET IN_3

SUPPLEMENTAL BALANCE SHEET INFORMATION - SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Inventory, Net [Abstract]
Raw materials	$ 245,848,000	$ 237,086,000
Goods in process	147,881,000	107,139,000
Finished goods	569,486,000	618,798,000
Inventories at FIFO	963,215,000	963,023,000
Adjustment to LIFO	(171,926,000)	(178,144,000)
Total inventories	791,289,000	784,879,000
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid Expense	47,735,000	68,490,000
Assets	23,421,000	23,421,000
Other Assets, Current	194,383,000	180,248,000
Prepaid Expenses and Other	265,539,000	272,159,000
Property, Plant and Equipment [Abstract]
Land	103,116,000	102,074,000
Buildings	1,219,652,000	1,211,011,000
Machinery and equipment	2,981,331,000	2,988,027,000
Construction in progress	268,202,000	280,559,000
Property, plant and equipment, gross	4,572,301,000	4,581,671,000
Accumulated depreciation	(2,464,226,000)	(2,451,377,000)
Property, plant and equipment, net	2,108,075,000	2,130,294,000
Other Assets, Noncurrent [Abstract]
Capitalized software, net	133,328,000	126,379,000
Operating lease ROU assets	219,138,000	0
Other non-current assets	107,288,000	126,605,000
Total other assets	459,754,000	252,984,000
Accrued Liabilities, Current [Abstract]
Payroll, compensation and benefits	124,116,000	180,546,000
Advertising, promotion and product allowances	345,642,000	293,642,000
Operating lease liabilities, current	30,178,000	0
Liabilities	596,000	596,000
Other	150,125,000	204,379,000
Total accrued liabilities	650,657,000	679,163,000
Other Liabilities, Noncurrent [Abstract]
Post-retirement benefits liabilities	193,648,000	195,166,000
Pension benefits liabilities	65,751,000	66,379,000
Operating lease liabilities, non-current	179,636,000	0
Other	179,098,000	184,503,000
Total other long-term liabilities	618,133,000	446,048,000
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Foreign currency translation adjustments	(93,803,000)	(96,678,000)
Pension and post-retirement benefit plans, net of tax	(200,319,000)	(205,230,000)
Cash flow hedges, net of tax	(54,398,000)	(54,872,000)
Total accumulated other comprehensive loss	$ (348,520,000)	$ (356,780,000)