The Hershey Company (HSY) 10-K 17 Feb 21 2020 FY Annual report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 12, 2021	Jun. 26, 2020
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-183
Entity Registrant Name	HERSHEY CO
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	23-0691590
Entity Address, Address Line One	19 East Chocolate Avenue
Entity Address, City or Town	Hershey
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	17033
City Area Code	717
Local Phone Number	534-4200
Title of 12(b) Security	Common Stock, one dollar par value
Trading Symbol	HSY
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 18,511,997,783
Estimated values (USD per share)			$ 125.85
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the Company's Proxy Statement for the 2021 Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K.
Entity Central Index Key	0000047111
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Common stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		146,551,766
Class B common stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		60,613,777

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net sales	$ 8,149,719	$ 7,986,252	$ 7,791,069
Cost of sales	4,448,450	4,363,774	4,215,744
Gross profit	3,701,269	3,622,478	3,575,325
Selling, marketing and administrative expense	1,890,925	1,905,929	1,874,829
Long-lived and intangible asset impairment charges	9,143	112,485	57,729
Business realignment costs	31,513	9,238	51,827
Operating profit	1,782,698	1,595,952	1,623,664
Interest expense, net	149,374	144,125	138,837
Other (income) expense, net	138,327	71,043	74,766
Income before income taxes	1,494,997	1,380,784	1,410,061
Provision for income taxes	219,584	234,032	239,010
Net income including noncontrolling interest	1,275,413	1,146,752	1,171,051
Net income (loss) attributable to noncontrolling interests	(3,295)	(2,940)	(6,511)
Net income attributable to The Hershey Company	1,278,708	1,149,692	1,177,562
Business realignment charges
Business realignment costs	$ 18,503	$ 8,112	$ 19,103
Common stock
Net income per share—basic:
Net income per share - basic (USD per share)	$ 6.30	$ 5.64	$ 5.76
Net income per share—diluted:
Net income per share - diluted (USD per share)	6.11	5.46	5.58
Dividends paid per share:
Dividends paid per share (USD per share)	3.154	2.990	2.756
Class B common stock
Net income per share—basic:
Net income per share - basic (USD per share)	5.72	5.12	5.24
Net income per share—diluted:
Net income per share - diluted (USD per share)	5.71	5.10	5.22
Dividends paid per share:
Dividends paid per share (USD per share)	$ 2.866	$ 2.716	$ 2.504

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income including noncontrolling interest	$ 1,275,413	$ 1,146,752	$ 1,171,051
Other comprehensive income (loss), net of tax:
Foreign currency translation (losses) gains during period, pre-tax amount	(13,767)	13,141	(31,143)
Foreign currency translation (losses) gains during period, tax (expense) benefit	0	0	0
Foreign currency translation (losses) gains during period, after-tax amount	(13,767)	13,141	(31,143)
Reclassification to earnings due to sale of businesses, pre-tax amount	0	0	(25,131)
Reclassification to earnings due to sale of businesses, pre-tax amount, tax (expense) benefit	0	0	0
Reclassification to earnings due to sale of businesses, after-tax amount	0	0	(25,131)
Pension and post-retirement benefit plans:
Net actuarial (loss) gain and prior service cost, pre-tax amount	(39,455)	(9,315)	(39,724)
Net actuarial (loss) gain and prior service cost, tax (expense) benefit	9,351	2,273	10,120
Net actuarial (loss) gain and prior service cost, after-tax amount	(30,104)	(7,042)	(29,604)
Reclassification of tax effects relating to U.S. tax reform, pre-tax amount	0	0	0
Reclassification of tax effects relating to U.S. tax reform, tax (expense) benefit	0	0	(36,535)
Reclassification of tax effects relating to U.S. tax reform, after-tax amount	0	0	(36,535)
Reclassification to earnings, pre-tax amount	33,326	31,341	40,421
Reclassification to earnings, tax (expense) benefit	(8,240)	(8,256)	(9,986)
Reclassification to earnings, after-tax amount	25,086	23,085	30,435
Cash flow hedges:
(Losses) gains on cash flow hedging derivatives, before tax	(780)	(2,515)	5,822
(Losses) gains on cash flow hedging derivatives, tax	(1,880)	(857)	86
(Losses) gains on cash flow hedging derivatives, after tax	1,100	(1,658)	5,736
Reclassification of tax effects relating to U.S. tax reform, pre-tax amount	0	0	0
Reclassification of tax effects relating to U.S. tax reform, tax (expense) benefit	0	0	(11,121)
Reclassification of tax effects relating to U.S. tax reform, after-tax amount	0	0	(11,121)
Reclassification to earnings, pre-tax amount	7,779	8,404	5,573
Reclassification to earnings, tax (expense) benefit	(3,156)	(2,949)	(2,677)
Reclassification to earnings, after-tax amount	4,623	5,455	2,896
Total other comprehensive (loss) income, pre-tax amount	(12,897)	41,056	6,080
Total other comprehensive (loss) income, tax (expense) benefit	(165)	(8,075)	(50,285)
Total other comprehensive (loss) income, after-tax amount	(13,062)	32,981	(44,205)
Total comprehensive income including noncontrolling interest	1,262,351	1,179,733	1,126,846
Comprehensive loss attributable to noncontrolling interest	(2,241)	(2,773)	(7,682)
Comprehensive income attributable to The Hershey Company	$ 1,264,592	$ 1,182,506	$ 1,134,528

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 1,143,987	$ 493,262
Accounts receivable—trade, net	615,233	568,509
Inventories	964,207	815,251
Prepaid expenses and other	254,478	240,080
Total current assets	2,977,905	2,117,102
Property, plant and equipment, net	2,285,255	2,153,139
Goodwill	1,988,215	1,985,955
Other intangibles	1,295,214	1,341,166
Other non-current assets	555,887	512,000
Deferred income taxes	29,369	31,033
Total assets	9,131,845	8,140,395
Current liabilities:
Accounts payable	580,058	550,828
Accrued liabilities	781,766	702,372
Accrued income taxes	17,051	19,921
Short-term debt	74,041	32,282
Current portion of long-term debt	438,829	703,390
Total current liabilities	1,891,745	2,008,793
Long-term debt	4,089,755	3,530,813
Other long-term liabilities	683,434	655,777
Deferred income taxes	229,028	200,018
Total liabilities	6,893,962	6,395,401
Stockholders’ equity:
Preferred stock, shares issued: none in 2020 and 2019	0	0
Additional paid-in capital	1,191,200	1,142,210
Retained earnings	1,928,673	1,290,461
Treasury—common stock shares, at cost: 13,325,898 in 2020 and 12,723,592 in 2019	(768,992)	(591,036)
Accumulated other comprehensive loss	(338,082)	(323,966)
Total—The Hershey Company stockholders’ equity	2,234,352	1,739,222
Noncontrolling interest in subsidiary	3,531	5,772
Total stockholders’ equity	2,237,883	1,744,994
Total liabilities and stockholders’ equity	9,131,845	8,140,395
Common stock
Stockholders’ equity:
Common stock	160,939	160,939
Class B common stock
Stockholders’ equity:
Common stock	$ 60,614	$ 60,614

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Dec. 31, 2020	Dec. 31, 2019
Preferred stock, shares issued (shares)	0	0
Common stock, shares issued (shares)	221,553,025	359,901,744
Treasury stock, shares (shares)	13,325,898	12,723,592
Common stock
Common stock, shares issued (shares)	160,939,248	160,939,248
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	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating Activities
Net income including noncontrolling interest	$ 1,275,413	$ 1,146,752	$ 1,171,051
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	294,907	291,544	295,144
Stock-based compensation expense	57,584	51,899	49,286
Deferred income taxes	26,880	(15,072)	36,255
Impairment of long-lived and intangible assets (see Note 6)	9,143	112,485	57,729
Write-down of equity investments	125,579	50,457	50,329
Other	113,470	57,426	37,278
Changes in assets and liabilities, net of business acquisitions and divestitures:
Accounts receivable—trade, net	(55,537)	40,252	8,585
Inventories	(151,918)	(21,194)	(12,746)
Prepaid expenses and other current assets	2,493	13,593	(39,899)
Accounts payable and accrued liabilities	41,470	41,101	(100,252)
Accrued income taxes	(16,158)	(9,544)	75,568
Contributions to pension and other benefit plans	(11,671)	(20,134)	(25,864)
Other assets and liabilities	(11,998)	24,308	(2,471)
Net cash provided by operating activities	1,699,657	1,763,873	1,599,993
Investing Activities
Capital additions (including software)	(441,626)	(318,192)	(328,601)
Proceeds from sales of property, plant and equipment and other long-lived assets	1,107	28,131	49,759
Proceeds from sales of businesses, net of cash and cash equivalents divested	0	0	167,048
Equity investments in tax credit qualifying partnerships	(87,211)	(80,230)	(52,641)
Business acquisitions, net of cash and cash equivalents acquired	0	(402,160)	(1,338,459)
Other investing activities	(3,550)	(8,029)	0
Net cash used in investing activities	(531,280)	(780,480)	(1,502,894)
Financing Activities
Net increase (decrease) in short-term debt	41,759	(1,168,205)	645,805
Long-term borrowings, net of debt issuance costs	989,876	989,618	1,199,845
Repayment of long-term debt and finance leases	(704,467)	(6,151)	(910,844)
Repayment of tax receivable obligation	0	0	(72,000)
Cash dividends paid	(640,732)	(610,312)	(562,521)
Repurchase of common stock	(211,196)	(527,211)	(247,500)
Exercise of stock options	25,532	240,806	63,323
Net cash (used in) provided by financing activities	(499,228)	(1,081,455)	116,108
Effect of exchange rate changes on cash and cash equivalents	(6,990)	3,326	(5,388)
Increase (decrease) in cash and cash equivalents, including cash classified as held for sale	662,159	(94,736)	207,819
Less: Increase in cash and cash equivalents classified as held for sale (see Note 8)	(11,434)	0	0
Net increase (decrease) in cash and cash equivalents	650,725	(94,736)	207,819
Cash and cash equivalents, beginning of period	493,262	587,998	380,179
Cash and cash equivalents, end of period	1,143,987	493,262	587,998
Supplemental Disclosure
Interest paid	150,930	139,504	132,486
Income taxes paid	$ 215,491	$ 238,067	$ 118,842

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Cumulative effect of new accounting principle in period of adoption	Common stock	Class B common stock	Preferred Stock	Common stockCommon stock	Common stockClass B common stock	Additional Paid-in Capital	Retained Earnings	Retained EarningsCumulative effect of new accounting principle in period of adoption	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	1,177,562								1,177,562
Net income (loss) attributable to noncontrolling interests	(6,511)														(6,511)
Net income including noncontrolling interest	1,171,051
Other comprehensive income (loss)	3,451													4,622	(1,171)
Dividends (including dividend equivalents):
Common Stock			$ (412,491)	$ (151,789)							$ (412,491)	$ (151,789)
Stock Issued During Period, Value, Conversion of Convertible Securities	0		6	(6)
Stock-based compensation	49,656							49,656
Exercise of stock options and incentive-based transactions	63,323							7,571					55,752
Repurchase of common stock	(247,500)												(247,500)
Tax cuts and jobs act, reclassification from aoci to retained earnings, tax effect	0								47,656					(47,656)
Ending 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	1,149,692								1,149,692
Net income (loss) attributable to noncontrolling interests	(2,940)														(2,940)
Net income including noncontrolling interest	1,146,752
Other comprehensive income (loss)	32,981													32,814	167
Dividends (including dividend equivalents):
Common Stock			(445,618)	(164,627)							(445,618)	(164,627)
Stock-based compensation	50,732							50,732
Exercise of stock options and incentive-based transactions	240,806							109,273					131,533
Repurchase of common stock	(527,211)												(527,211)
Retirement of treasury common stock	0					(138,348)			(6,284,919)				6,423,267
Ending balance, stockholders' equity at Dec. 31, 2019	1,744,994	$ 3,913			0	160,939	60,614	1,142,210	1,290,461	$ 3,913			(591,036)	(323,966)	5,772
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to The Hershey Company	1,278,708								1,278,708
Net income (loss) attributable to noncontrolling interests	(3,295)														(3,295)
Net income including noncontrolling interest	1,275,413
Other comprehensive income (loss)	(13,062)													(14,116)	1,054
Dividends (including dividend equivalents):
Common Stock			$ (466,777)	$ (173,719)							$ (466,777)	$ (173,719)
Stock-based compensation	56,698							56,698
Exercise of stock options and incentive-based transactions	25,532							(7,708)					33,240
Repurchase of common stock	(211,196)												(211,196)
Ending balance, stockholders' equity at Dec. 31, 2020	$ 2,237,883				$ 0	$ 160,939	$ 60,614	$ 1,191,200	$ 1,928,673				$ (768,992)	$ (338,082)	$ 3,531

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 27, 2020	Jun. 28, 2020	Mar. 29, 2020	Dec. 31, 2019	Sep. 29, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Common stock
Dividends paid per share (USD per share)	$ 0.804	$ 0.804	$ 0.773	$ 0.773	$ 0.773	$ 0.773	$ 0.722	$ 0.722	$ 3.154	$ 2.990	$ 2.756
Class B common stock
Dividends paid per share (USD per share)	$ 0.731	$ 0.731	$ 0.702	$ 0.702	$ 0.702	$ 0.702	$ 0.656	$ 0.656	$ 2.866	$ 2.716	$ 2.504

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of Business The Hershey Company together with its wholly-owned subsidiaries and entities in which it has a controlling interest, (the “Company,” “Hershey,” “we” or “us”) is a global confectionery leader known for its branded portfolio of chocolate, sweets, mints and other great-tasting snacks. The Company has more than 90 brands worldwide including such iconic brand names as Hershey’s, Reese’s, Kisses, Jolly Rancher and Ice Breakers, which are marketed, sold and distributed in approximately 85 countries worldwide. Hershey's structure is designed to ensure continued focus on North America, coupled with an emphasis on profitable growth in our focus international markets. The Company currently operates through two reportable segments that are aligned with its management structure and the key markets it serves: North America and International and Other. For additional information on our segment presentation, see Note 13 . Basis of Presentation Our consolidated financial statements include the accounts of The Hershey Company and its majority-owned or controlled subsidiaries. Intercompany transactions and balances have been eliminated. We have a controlling financial interest if we own a majority of the outstanding voting common stock and minority shareholders do not have substantive participating rights, we have significant control through contractual or economic interests in which we are the primary beneficiary or we have the power to direct the activities that most significantly impact the entity's economic performance. We use the equity method of accounting when we have a 20% to 50% interest in other companies and exercise significant influence. See Note 14 for information on our noncontrolling interest. In addition, we use the equity method of accounting for our investments in partnership entities which make equity investments in projects eligible to receive federal historic and energy tax credits. See Note 10 for additional information on our equity investments in partnership entities qualifying for tax credits. Other investments that are not controlled, and over which we do not have the ability to exercise significant influence, are accounted for under the cost method. Both equity and cost method investments are included as Other non-current assets in the Consolidated Balance Sheets. COVID-19 On March 11, 2020, the World Health Organization designated coronavirus disease 2019 ("COVID-19") as a global pandemic. We continue to actively monitor COVID-19 and its potential impact on our operations and financial results. Employee health and safety remains our first priority while we continue our efforts to support community food supplies. To date, there has been minimal disruption to our supply chain network, and all our manufacturing plants are currently open. We are also working closely with our business units, contract manufacturers, distributors, contractors and other external business partners to minimize the potential impact on our business. In late May and early June, many state governments began a phased reopening of their economies. These phased approaches promoted limited food service offerings, outdoor dining, increased travel and the reopening of retailing establishments while adhering to new guidelines and enhanced safety measures, including social distancing and face mask protocols. As a result, we experienced an increase in our net sales and earnings per share during 2020. We believe the financial impacts from COVID-19 are temporary in nature and do not significantly affect our business model and growth strategy. While recent reopening approaches have made a short-term positive impact on local and state economies and the United States unemployment rate, certain states have modified reopening plans as new cases of COVID-19 have led to new trends in outbreaks and hotspots. The ultimate impact that COVID-19 will have on our consolidated financial statements remains uncertain and ultimately will be dictated by the length and severity of the pandemic, as well as the economic recovery and federal, state and local government actions taken in response, including the distribution of vaccinations. We will continue to evaluate the nature and extent of these potential impacts to our business and consolidated financial statements. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying disclosures. Our significant estimates and assumptions include, among others, pension and other post-retirement benefit plan assumptions, valuation assumptions of goodwill and other intangible assets, useful lives of long-lived assets, marketing and trade promotion accruals and income taxes. These estimates and assumptions are based on management’s best judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and the effects of any revisions are reflected in the consolidated financial statements in the period that they are determined. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Revenue Recognition The majority of our revenue contracts represent a single performance obligation related to the fulfillment of customer orders for the purchase of our products, including chocolate, sweets, mints and other grocery and snack offerings. Net sales reflect the transaction prices for these contracts based on our selling list price which is then reduced by estimated costs for trade promotional programs, consumer incentives, and allowances and discounts associated with aged or potentially unsaleable products. We recognize revenue at the point in time that control of the ordered product(s) is transferred to the customer, which is typically upon delivery to the customer or other customer-designated delivery point. Amounts billed and due from our customers are classified as accounts receivables on the balance sheet and require payment on a short-term basis. Our trade promotional programs and consumer incentives are used to promote our products and include, but are not limited to, discounts, coupons, rebates, in-store display incentives, and volume-based incentives. The estimated costs associated with these programs and incentives are based upon our analysis of the programs offered, expectations regarding customer and consumer participation, historical sales and payment trends, and our experience with payment patterns associated with similar programs offered in the past. The estimated costs of these programs are reasonably likely to change in future periods due to changes in trends with regard to customer and consumer participation, particularly for new programs and for programs related to the introduction of new products. Differences between estimated expense and actual program performance are recognized as a change in estimate in a subsequent period and are normally not significant. During 2020, 2019 and 2018, actual promotional costs have not deviated from the estimated amount by more than 2%. The Company’s unsettled portion remaining in accrued liabilities at year-end for these activities was $195,563 and $180,959 at December 31, 2020 and 2019, respectively. We also recognize a minor amount of royalty income (less than 1% of our consolidated net sales) from sales-based licensing arrangements, pursuant to which revenue is recognized as the third-party licensee sales occur. Shipping and handling costs incurred to deliver product to the customer are recorded within cost of sales. Sales, value add and other taxes we collect concurrent with revenue producing activities are excluded from revenue. The majority of our products are confectionery or confectionery-based and, therefore, exhibit similar economic characteristics, as they are based on similar ingredients and are marketed and sold through the same channels to the same customers. In connection with our recent acquisitions, we have expanded our portfolio of snacking products, which also exhibit similar economic characteristics to our confectionery products and are sold through the same channels to the same customers. See Note 13 for revenues reported by geographic segment, which is consistent with how we organize and manage our operations, as well as product line net sales information. In 2020, 2019 and 2018, approximately 31%, 30% and 28%, respectively, of our consolidated net sales were made to McLane Company, Inc., one of the largest wholesale distributors in the United States to convenience stores, drug stores, wholesale clubs and mass merchandisers and the primary distributor of our products to Wal-Mart Stores, Inc. Cost of Sales Cost of sales represents costs directly related to the manufacture and distribution of our products. Primary costs include raw materials, packaging, direct labor, overhead, shipping and handling, warehousing and the depreciation of manufacturing, warehousing and distribution facilities. Manufacturing overhead and related expenses include salaries, wages, employee benefits, utilities, maintenance and property taxes. Selling, Marketing and Administrative Expense Selling, marketing and administrative expense (“SM&A”) represents costs incurred in generating revenues and in managing our business. Such costs include advertising and other marketing expenses, selling expenses, research and development costs, administrative and other indirect overhead costs, amortization of capitalized software and intangible assets and depreciation of administrative facilities. Research and development costs, charged to expense as incurred, totaled $37,577 in 2020, $37,146 in 2019 and $38,521 in 2018. Advertising expense is also charged to expense as incurred and totaled $516,936 in 2020, $513,302 in 2019 and $479,908 in 2018. Prepaid advertising expense was $705 and $242 as of December 31, 2020 and 2019, respectively. Cash Equivalents Cash equivalents consist of highly liquid debt instruments, time deposits and money market funds with original maturities of three months or less. The fair value of cash and cash equivalents approximates the carrying amount. Accounts Receivable—Trade In the normal course of business, we extend credit to customers that satisfy pre-defined credit criteria, based upon the results of our recurring financial account reviews and our evaluation of current and projected economic conditions. Our primary concentration of credit risk is associated with McLane Company, Inc., one customer served principally by our North America segment. As of December 31, 2020, McLane Company, Inc. accounted for approximately 24% of our total accounts receivable. No other customer accounted for more than 10% of our year-end accounts receivable. We believe that we have little concentration of credit risk associated with the remainder of our customer base. Accounts receivable-trade in the Consolidated Balance Sheets is presented net of allowances for bad debts and anticipated discounts of $24,975 and $24,966 at December 31, 2020 and 2019, respectively. Inventories Inventories are valued at the lower of cost or market value, adjusted for the value of inventory that is estimated to be excess, obsolete or otherwise unsaleable. As of December 31, 2020, approximately 63% of our inventories, representing the majority of our United States ("U.S.") inventories, were valued under the last-in, first-out (“LIFO”) method. The remainder of our inventories in the U.S. and inventories for our international businesses were valued at the lower of first-in, first-out (“FIFO”) cost or net realizable value. LIFO cost of inventories valued using the LIFO method was $606,282 as of December 31, 2020 and $501,459 as of December 31, 2019. The adjustment to LIFO, as shown in Note 18 , approximates the excess of replacement cost over the stated LIFO inventory value. The net impact of LIFO acquisitions and liquidations was not material to 2020, 2019 or 2018. Property, Plant and Equipment Property, plant and equipment is stated at cost and depreciated on a straight-line basis over the estimated useful lives of the assets, as follows: 3 to 15 years for machinery and equipment; and 25 to 40 years for buildings and related improvements. At December 31, 2020 and December 31, 2019, property, plant and equipment included assets under finance lease arrangements with net book values totaling $88,065 and $93,917, respectively. Total depreciation expense for the years ended December 31, 2020, 2019 and 2018 was $219,021, $218,096 and $231,012, respectively, and included depreciation on assets recorded under finance lease arrangements. Maintenance and repairs are expensed as incurred. We capitalize applicable interest charges incurred during the construction of new facilities and production lines and amortize these costs over the assets’ estimated useful lives. We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. We measure the recoverability of assets to be held and used by a comparison of the carrying amount of long-lived assets to future undiscounted net cash flows expected to be generated. If these assets are considered to be impaired, we measure impairment as the amount by which the carrying amount of the assets exceeds the fair value of the assets. We report assets held for sale or disposal at the lower of the carrying amount or fair value less cost to sell. We assess asset retirement obligations on a periodic basis and recognize the fair value of a liability for an asset retirement obligation in the period in which it is incurred if a reasonable estimate of fair value can be made. We capitalize associated asset retirement costs as part of the carrying amount of the long-lived asset. Computer Software We capitalize costs associated with software developed or obtained for internal use when both the preliminary project stage is completed and it is probable the software being developed will be completed and placed in service. Capitalized costs include only (i) external direct costs of materials and services consumed in developing or obtaining internal-use software, (ii) payroll and other related costs for employees who are directly associated with and who devote time to the internal-use software project and (iii) interest costs incurred, when material, while developing internal-use software. We cease capitalization of such costs no later than the point at which the project is substantially complete and ready for its intended purpose. The unamortized amount of capitalized software totaled $187,673 and $153,842 at December 31, 2020 and 2019, respectively. We amortize software costs using the straight-line method over the expected life of the software, generally 3 to 7 years. Accumulated amortization of capitalized software was $360,579 and $338,449 as of 2020 and 2019, respectively. Such amounts are recorded within other assets in the Consolidated Balance Sheets. We review the carrying value of software and development costs for impairment in accordance with our policy pertaining to the impairment of long-lived assets. Goodwill and Other Intangible Assets Goodwill and indefinite-lived intangible assets are not amortized, but are evaluated for impairment annually or more often if indicators of a potential impairment are present. Our annual impairment tests are conducted at the beginning of the fourth quarter. We test goodwill for impairment by performing either a qualitative or quantitative assessment. If we choose to perform a qualitative assessment, we evaluate economic, industry and company-specific factors in assessing the fair value of the related reporting unit. If we determine that it is more likely than not that the fair value of the reporting unit is less than its carrying value, a quantitative test is then performed. Otherwise, no further testing is required. For those reporting units tested using a quantitative approach, we compare the fair value of each reporting unit with the carrying amount of the reporting unit, including goodwill. If the estimated fair value of the reporting unit is less than the carrying amount of the reporting unit, impairment is indicated, requiring recognition of a goodwill impairment charge for the differential (up to the carrying value of goodwill). We test individual indefinite-lived intangible assets by comparing the estimated fair values with the book values of each asset. We determine the fair value of our reporting units and indefinite-lived intangible assets using an income approach. Under the income approach, we calculate the fair value of our reporting units and indefinite-lived intangible assets based on the present value of estimated future cash flows. Considerable management judgment is necessary to evaluate the impact of operating and macroeconomic changes and to estimate the future cash flows used to measure fair value. Our estimates of future cash flows consider past performance, current and anticipated market conditions and internal projections and operating plans which incorporate estimates for sales growth and profitability, and cash flows associated with taxes and capital spending. Additional assumptions include forecasted growth rates, estimated discount rates, which may be risk-adjusted for the operating market of the reporting unit, and estimated royalty rates that would be charged for comparable branded licenses. We believe such assumptions also reflect current and anticipated market conditions and are consistent with those that would be used by other marketplace participants for similar valuation purposes. Such assumptions are subject to change due to changing economic and competitive conditions. The cost of intangible assets with finite useful lives is amortized on a straight-line basis. Our finite-lived intangible assets consist primarily of certain trademarks, customer-related intangible assets and patents obtained through business acquisitions. The weighted-average amortization period for our finite-lived intangible assets is approximately 32 years, which is primarily driven by recently acquired trademarks. If certain events or changes in operating conditions indicate that the carrying value of these assets, or related asset groups, may not be recoverable, we perform an impairment assessment and may adjust the remaining useful lives. See Note 3 for additional information regarding the results of impairment tests. Currency Translation The financial statements of our foreign entities with functional currencies other than the U.S. dollar are translated into U.S. dollars, with the resulting translation adjustments recorded as a component of other comprehensive income (loss). Assets and liabilities are translated into U.S. dollars using the exchange rates in effect at the balance sheet date, while income and expense items are translated using the average exchange rates during the period. Derivative Instruments We use derivative instruments principally to offset exposure to market risks arising from changes in commodity prices, foreign currency exchange rates and interest rates. See Note 5 for additional information on our risk management strategy and the types of instruments we use. Derivative instruments are recognized on the Consolidated Balance Sheets at their fair values. When we become party to a derivative instrument and intend to apply hedge accounting, we designate the instrument for financial reporting purposes as a cash flow or fair value hedge. The accounting for changes in fair value (gains or losses) of a derivative instrument depends on whether we have designated it and it qualified as part of a hedging relationship, as noted below: • Changes in the fair value of a derivative that is designated as a cash flow hedge are recorded in accumulated other comprehensive income (“AOCI”) to the extent effective and reclassified into earnings in the same period or periods during which the transaction hedged by that derivative also affects earnings. • Changes in the fair value of a derivative that is designated as a fair value hedge, along with the offsetting loss or gain on the hedged asset or liability that is attributable to the risk being hedged, are recorded in earnings, thereby reflecting in earnings the net extent to which the hedge is not effective in achieving offsetting changes in fair value. • Changes in the fair value of a derivative not designated as a hedging instrument are recognized in earnings in cost of sales or SM&A, consistent with the related exposure. For derivatives designated as hedges, we assess, both at the hedge's inception and on an ongoing basis, whether they are highly effective in offsetting changes in fair values or cash flows of hedged items. The ineffective portion, if any, is recorded directly in earnings. In addition, if we determine that a derivative is not highly effective as a hedge or that it has ceased to be a highly effective hedge, we discontinue hedge accounting prospectively. We do not hold or issue derivative instruments for trading or speculative purposes and are not a party to any instruments with leverage or prepayment features. Cash flows related to the derivative instruments we use to manage interest, commodity or other currency exposures are classified as operating activities. Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In August 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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 elected to early adopt the provisions of this ASU in the fourth quarter of 2019. Adoption of the new standard did not have a material impact on our consolidated financial statements. 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 adopted the provisions of this ASU in the first quarter of 2020. Adoption of the new standard did not have a material impact on our consolidated financial statements. 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 adopted the provisions of this ASU in the first quarter of 2020. Adoption of the new standard did not have a material impact on our consolidated financial statements. 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 adopted the provisions of this ASU in the first quarter of 2020 on a prospective basis. Adoption of the new standard did not have a material impact on our consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes . This ASU is intended to simplify various aspects related to accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and clarifying certain aspects of the current guidance to promote consistency among reporting entities. ASU 2019-12 is effective for annual periods beginning after December 15, 2020 and interim periods within those annual periods, with early adoption permitted. An entity that elects early adoption must adopt all the amendments in the same period. Most amendments within this ASU are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. We adopted the provisions of this ASU in the fourth quarter of 2020. Adoption of the new standard did not have a material impact on our consolidated financial statements. Recently Issued Accounting Pronouncements Not Yet Adopted In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . The ASU is intended to provide temporary optional expedients and exceptions to the GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. Entities may apply this ASU upon issuance through December 31, 2022 on a prospective basis. We are currently evaluating the impact of the new standard on our consolidated financial statements and related disclosures. No other new accounting pronouncement issued or effective during the fiscal year had or is expected to have a material impact on our consolidated financial statements or disclosures.

BUSINESS ACQUISITIONS AND DIVES

BUSINESS ACQUISITIONS AND DIVESTITURES	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Business Acquisitions and Divestitures	BUSINESS ACQUISITIONS AND DIVESTITURES Acquisitions of businesses are accounted for as purchases and, accordingly, the results of operations of the businesses acquired have been included in the consolidated financial statements since the respective dates of the acquisitions. The purchase price for each acquisition is allocated to the assets acquired and liabilities assumed. In conjunction with acquisitions noted below, we used various valuation techniques to determine fair value of the assets acquired, with the primary techniques being discounted cash flow analysis, relief-from-royalty, a form of the multi-period excess earnings and the with-and-without valuation approaches, which use significant unobservable inputs, or Level 3 inputs, as defined by the fair value hierarchy. Inputs to these valuation approaches require significant judgment including: (i) forecasted sales, growth rates and customer attrition rates, (ii) forecasted operating margins, (iii) royalty rates and discount rates used to present value future cash flows, (iv) the amount of synergies expected from the acquisition, (v) the economic useful life of assets and, (vi) the evaluation of historical tax positions. In certain acquisitions, historical data is limited, therefore, we base our estimates and assumptions on budgets, business plans, economic projections, anticipated future cash flows and marketplace data. 2020 Activity During the second quarter of 2020, we completed the divestitures of KRAVE Pure Foods, Inc. ("Krave") and the Scharffen Berger and Dagoba brands, all of which were previously included within the North America segment results in our consolidated financial statements. Total proceeds from the divestitures and the impact on our Consolidated Statements of Income, both individually and on an aggregate basis, were immaterial. 2019 Activity ONE Brands, LLC On September 23, 2019, we completed the acquisition of ONE Brands, LLC ("ONE Brands"), previously a privately held company that sells a line of low-sugar, high-protein nutrition bars to retailers and distributors in the United States, with the ONE Bar as its primary product. The purchase consideration for ONE Brands totaled $402,160 and consisted of cash on hand and short-term borrowings. Acquisition-related costs for the ONE Brands acquisition were immaterial. The acquisition has been accounted for as a purchase and, accordingly, ONE 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 consideration was allocated to assets acquired and liabilities assumed based on their respective fair values as follows: Goodwill $ 180,065 Other intangible assets 206,800 Other assets acquired, primarily current assets 25,435 Other liabilities assumed, primarily current liabilities (10,140) Net assets acquired $ 402,160 The purchase price allocation presented above has been finalized as of the first quarter of 2020 and includes an immaterial amount of measurement period adjustments. The measurement period adjustments to the initial allocation were based on more detailed information obtained about the specific assets acquired and liabilities assumed. 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 our brand building expertise, supply chain capabilities and retail relationships to accelerate growth and access to the portfolio of ONE Brands products. Other intangible assets include trademarks valued at $144,900, customer relationships valued at $58,800 and covenants not to compete valued at $3,100. Trademarks were assigned an estimated useful life of 33 years, customer relationships were assigned estimated useful lives ranging from 17 to 19 years and covenants not to compete were assigned an estimated useful life of 4 years. 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 Property, plant 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 Property, plant 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) Other long-term 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 related to the acquisition of Amplify, the majority of which were incurred during the first quarter of 2018. Acquisition-related costs consisted primarily of legal fees, consultant fees, valuation fees and other deal costs and are recorded in the selling, marketing and administrative expense caption within the Consolidated Statements of Income.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2020
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 years ended December 31, 2020 and 2019 are as follows: North America International and Other Total Goodwill $ 1,787,818 $ 375,633 $ 2,163,451 Accumulated impairment loss (4,973) (357,375) (362,348) Balance at January 1, 2019 1,782,845 18,258 1,801,103 Acquired during the period 178,179 — 178,179 Measurement period adjustments 1,061 — 1,061 Foreign currency translation 5,381 231 5,612 Balance at December 31, 2019 1,967,466 18,489 1,985,955 Measurement period adjustments (see Note 2 ) 825 — 825 Foreign currency translation 2,154 (719) 1,435 Balance at December 31, 2020 $ 1,970,445 $ 17,770 $ 1,988,215 We had no goodwill impairment charges in 2020, 2019 or 2018. The following table provides the gross carrying amount and accumulated amortization for each major class of intangible asset: December 31, 2020 2019 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Intangible assets subject to amortization: Trademarks $ 1,211,086 $ (104,939) $ 1,212,172 $ (73,262) Customer-related 204,101 (49,616) 207,749 (40,544) Patents 8,556 (8,542) 16,711 (16,525) Total 1,423,743 (163,097) 1,436,632 (130,331) Intangible assets not subject to amortization: Trademarks 34,568 34,865 Total other intangible assets $ 1,295,214 $ 1,341,166 In 2019, sales and operating performance associated with our Krave business were below expectations. In the fourth quarter of 2019, as part of a strategic review initiated by our leadership team, we updated our strategic forecast which projected under performance related to the Krave business primarily due to mainstream brands driving category volume and an increase in the overall competitive landscape. We deemed this to be a triggering event requiring us to test our Krave long-lived asset group for impairment. Based on our assessment, we determined that the carrying value was not recoverable and calculated an impairment loss as the excess of the asset group's carrying value over its fair value. Therefore, as a result of this testing, during the fourth quarter of 2019, we recorded an impairment charge totaling $100,131 to write down the long-lived asset group, which predominantly consisted of customer relationship and trademark intangible assets. Total amortization expense for the years ended December 31, 2020, 2019 and 2018 was $46,472, $46,690 and $38,555, respectively. Amortization expense for the next five years, based on current intangible asset balances, is estimated to be as follows: Year ending December 31, 2021 2022 2023 2024 2025 Amortization expense $ 46,329 $ 46,315 $ 46,121 $ 45,540 $ 45,540

SHORT AND LONG-TERM DEBT

SHORT AND LONG-TERM DEBT	12 Months Ended
	Dec. 31, 2020
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 $1.5 billion unsecured revolving credit facility with the option to increase borrowings by an additional $500 million with the consent of the lenders. This facility is scheduled to expire on July 2, 2024; however, we may extend the termination date for up to two additional one-year periods upon notice to the administrative agent under the facility. The unsecured committed revolving credit agreement contains a financial covenant whereby the ratio of (a) pre-tax income from operations from the most recent four fiscal quarters to (b) consolidated interest expense for the most recent four fiscal quarters may not be less than 2.0 to 1.0 at the end of each fiscal quarter. The credit agreement also contains customary representations, warranties and events of default. Payment of outstanding advances may be accelerated, at the option of the lenders, should we default in our obligation under the credit agreement. As of December 31, 2020, we are in compliance with all affirmative and negative covenants and the financial covenant pertaining to our credit agreement. There were no significant compensating balance agreements that legally restricted these funds. In addition to the revolving credit facility, we maintain lines of credit with domestic and international commercial banks. Our credit limit in various currencies was $266,935 at December 31, 2020 and $390,299 at December 31, 2019. These lines permit us to borrow at the respective banks’ prime commercial interest rates, or lower. We had short-term foreign bank loans against these lines of credit for $74,041 at December 31, 2020 and $32,282 at December 31, 2019. Commitment fees relating to our revolving credit facility and lines of credit are not material. At December 31, 2020 and 2019, we had no outstanding commercial paper. The maximum amount of short-term borrowings outstanding during 2020 and 2019 was $944,944 and $1,275,430, respectively. The weighted-average interest rate on short-term borrowings outstanding was 1.2% as of December 31, 2020 and 2.4% as of December 31, 2019. Long-term Debt Long-term debt consisted of the following: December 31, Maturity Date 2020 2019 2.900% Notes (1) May 15, 2020 $ — $ 350,000 4.125% Notes (1) December 1, 2020 — 350,000 8.800% Debentures February 15, 2021 84,715 84,715 3.100% Notes May 15, 2021 350,000 350,000 2.625% Notes May 1, 2023 250,000 250,000 3.375% Notes May 15, 2023 500,000 500,000 2.050% Notes (3) November 15, 2024 300,000 300,000 0.900% Notes (2) June 1, 2025 300,000 — 3.200% Notes August 21, 2025 300,000 300,000 2.300% Notes August 15, 2026 500,000 500,000 7.200% Debentures August 15, 2027 193,639 193,639 2.450% Notes (3) November 15, 2029 300,000 300,000 1.700% Notes (2) June 1, 2030 350,000 — 3.375% Notes August 15, 2046 300,000 300,000 3.125% Notes (3) November 15, 2049 400,000 400,000 2.650% Notes (2) June 1, 2050 350,000 — Finance lease obligations (see Note 7 ) 80,755 79,643 Net impact of interest rate swaps, debt issuance costs and unamortized debt discounts (30,525) (23,794) Total long-term debt 4,528,584 4,234,203 Less—current portion 438,829 703,390 Long-term portion $ 4,089,755 $ 3,530,813 (1) In May 2020, we repaid $350,000 of 2.900% Notes due upon their maturity. In December 2020, we repaid $350,000 of 4.125% Notes due upon their maturity. (2) During the second quarter of 2020, we issued $300,000 of 0.900% Notes due in 2025, $350,000 of 1.700% Notes due in 2030 and $350,000 of 2.650% Notes due in 2050 (the "2020 Notes"). Proceeds from the issuance of the 2020 Notes, net of discounts and issuance costs, totaled $989,876. The 2020 Notes were issued under a shelf registration statement on Form S-3 filed in May 2018 that registered an indeterminate amount of debt securities. (3) In October 2019, we issued $300,000 of 2.05% Notes due in 2024, $300,000 of 2.45% Notes due in 2029 and $400,000 of 3.125% Notes due in 2049 (the "2019 Notes"). Proceeds from the issuance of the 2019 Notes, net of discounts and issuance costs, totaled $990,337. The 2019 Notes were issued under a shelf registration statement on Form S-3 filed in May 2018 that registered an indeterminate amount of debt securities. Aggregate annual maturities of our long-term Notes (excluding finance lease obligations and net impact of interest rate swaps, debt issuance costs and unamortized debt discounts) are as follows for the years ending December 31: 2021 $ 434,715 2022 — 2023 750,000 2024 300,000 2025 600,000 Thereafter 2,393,639 Our debt is principally unsecured and of equal priority. None of our debt is convertible into our Common Stock. Interest Expense Net interest expense consists of the following: For the years ended December 31, 2020 2019 2018 Interest expense $ 160,204 $ 157,707 $ 151,950 Capitalized interest (6,733) (5,585) (5,092) Interest expense 153,471 152,122 146,858 Interest income (4,097) (7,997) (8,021) Interest expense, net $ 149,374 $ 144,125 $ 138,837

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	12 Months Ended
	Dec. 31, 2020
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 $279,843 as of December 31, 2020 and $589,662 as of December 31, 2019. 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, Brazilian real, Malaysian ringgit, Mexican peso and Swiss franc. 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 $130,131 at December 31, 2020 and $65,826 at December 31, 2019. The effective portion of the changes in fair value on these contracts is recorded in other comprehensive income and reclassified into earnings in the same period in which the hedged transactions affect earnings. The net notional amount of foreign exchange contracts that are not designated as accounting hedges was $2,519 at December 31, 2020 and $50,831 at December 31, 2019. 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. In December 2020, our fixed-to-floating interest rate swap matured in connection with the repayment of certain long-term debt upon its maturity (see Note 4 ). Therefore, as of December 31, 2020, we had no interest rate swap derivative instruments in a fair value hedging relationship. As of December 31, 2019, we had one interest rate swap derivative instrument in a fair value hedging relationship with a notional amount of $350,000. In order to manage interest rate exposure, in previous years we utilized interest rate swap agreements to protect against unfavorable interest rate changes relating to forecasted debt transactions. These swaps, which were settled upon issuance of the related debt, were designated as cash flow hedges and the gains and losses that were deferred in other comprehensive income are being recognized as an adjustment to interest expense over the same period that the hedged interest payments affect earnings. Equity Price Risk We are exposed to market price changes in certain broad market indices related to our deferred compensation obligations to our employees. To mitigate this risk, we use equity swap contracts to hedge the portion of the exposure that is linked to market-level equity returns. These contracts are not designated as hedges for accounting purposes and are entered into for periods of 3 to 12 months. The change in fair value of these derivatives is recorded in selling, marketing and administrative expense, together with the change in the related liabilities. The notional amount of the contracts outstanding at December 31, 2020 and 2019 was $30,194 and $28,187, respectively. The following table presents the classification of derivative assets and liabilities within the Consolidated Balance Sheets as of December 31, 2020 and 2019: December 31, 2020 2019 Assets (1) Liabilities (1) Assets (1) Liabilities (1) Derivatives designated as cash flow hedging instruments: Foreign exchange contracts $ 2,388 $ 5,522 $ 1,235 $ 1,779 Derivatives designated as fair value hedging instruments: Interest rate swap agreements — — 555 — Derivatives not designated as hedging instruments: Commodities futures and options (2) 3,299 1,648 9,080 626 Deferred compensation derivatives 3,630 — 2,557 — Foreign exchange contracts 176 93 1,496 — 7,105 1,741 13,133 626 Total $ 9,493 $ 7,263 $ 14,923 $ 2,405 (1) Derivatives assets are classified on our Consolidated Balance Sheets within prepaid expenses and other as well as other non-current assets. Derivative liabilities are classified on our Consolidated Balance Sheets within accrued liabilities and other long-term liabilities. (2) As of December 31, 2020, amounts reflected on a net basis in assets were assets of $32,674 and liabilities of $29,376, 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, 2019 were assets of $46,075 and liabilities of $37,606. At December 31, 2020 and 2019, 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 years ended December 31, 2020 and 2019 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 AOCI into income (b) 2020 2019 2020 2019 2020 2019 Commodities futures and options $ 6,593 $ 35,488 $ — $ — $ — $ — Foreign exchange contracts (1,584) 410 (780) (2,515) 1,810 939 Interest rate swap agreements — — — — (9,589) (9,343) Deferred compensation derivatives 4,934 6,738 — — — — Total $ 9,943 $ 42,636 $ (780) $ (2,515) $ (7,779) $ (8,404) (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 $4,060 as of December 31, 2020. This amount is primarily associated with interest rate swap agreements. Fair Value Hedging Relationships The following table presents amounts that were recorded on the Consolidated Balance Sheets related to cumulative basis adjustments for interest rate swap derivatives designated as fair value accounting hedges as of December 31, 2020 and 2019. Line Item in the Consolidated Balance Sheets in Which the Hedged Item is Included Carrying Amount of the Hedged Liability Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount Assets 2020 2019 2020 2019 Long-term debt $ — $ (349,445) $ — $ 555 For the years ended December 31, 2020 and 2019, we recognized a net pretax benefit to interest expense of $3,186 and net incremental interest expense of $1,829, respectively, relating to our fixed-to-floating interest rate swap arrangements.

FAIR VALUE MEASUREMENTS FAIR VA

FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2020
FAIR VALUE MEASUREMENTS [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Accounting guidance on fair value measurements requires that financial assets and liabilities be classified and disclosed in one of the following categories of the fair value hierarchy: Level 1 – Based on unadjusted quoted prices for identical assets or liabilities in an active market. Level 2 – Based on observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3 – Based on unobservable inputs that reflect the entity's own assumptions about the assumptions that a market participant would use in pricing the asset or liability. We did not have any Level 3 financial assets or liabilities, nor were there any transfers between levels during the periods presented. The following table presents assets and liabilities that were measured at fair value in the Consolidated Balance Sheets on a recurring basis as of December 31, 2020 and 2019: Assets (Liabilities) Level 1 Level 2 Level 3 Total December 31, 2020: Derivative Instruments: Assets: Foreign exchange contracts (1) $ — $ 2,564 $ — $ 2,564 Deferred compensation derivatives (3) — 3,630 — 3,630 Commodities futures and options (4) 3,299 — — 3,299 Liabilities: Foreign exchange contracts (1) — 5,615 — 5,615 Commodities futures and options (4) 1,648 — — 1,648 December 31, 2019: Assets: Foreign exchange contracts (1) $ — $ 2,731 $ — $ 2,731 Interest rate swap agreements (2) — 555 — 555 Deferred compensation derivatives (3) — 2,557 — 2,557 Commodities futures and options (4) 9,080 — — 9,080 Liabilities: Foreign exchange contracts (1) — 1,779 — 1,779 Commodities futures and options (4) 626 — — 626 (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 December 31, 2020 and December 31, 2019 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 At December 31, 2020 2019 2020 2019 Current portion of long-term debt $ 443,215 $ 712,863 $ 438,829 $ 703,390 Long-term debt 4,479,499 3,656,540 4,089,755 3,530,813 Total $ 4,922,714 $ 4,369,403 $ 4,528,584 $ 4,234,203 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. 2020 Activity During 2020, we recorded the following impairment charges, which use significant unobservable inputs, or Level 3 inputs, as defined by the fair value hierarchy: 2020 Adjustment to disposal group (1) $ 6,200 Other asset write-down (2) 2,943 Long-lived asset impairment charges $ 9,143 (1) In connection with our disposal group classified as held for sale, as discussed in Note 8 , during 2020, we recorded impairment charges to adjust long-lived asset values. The fair value of the disposal group was supported by potential sales prices with third-party buyers. The sale of the Lotte Shanghai Foods Co., Ltd. ("LSFC") joint venture (disposal group) was completed in January 2021. (2) In connection with a previous sale, the Company wrote-down certain receivables deemed uncollectible. 2019 Activity During 2019, we recorded the following impairment charges, which use significant unobservable inputs, or Level 3 inputs, as defined by the fair value hierarchy: 2019 Customer relationship and trademark intangible assets (1) $ 100,131 Other long-lived assets not held for sale (2) 9,629 Adjustment to disposal group (3) 2,725 Long-lived and intangible asset impairment charges $ 112,485 (1) During the fourth quarter of 2019, as discussed in Note 3 , we recorded impairment charges to write down customer relationship and trademark intangible assets associated with Krave. These charges were determined by comparing the fair value of the asset group to its carrying value. We used various valuation techniques to determine fair value, with the primary techniques being discounted cash flow analysis and relief-from-royalty valuation approaches, which use significant unobservable inputs, or Level 3 inputs, as defined by the fair value hierarchy. (2) During 2019, we recorded impairment charges predominantly comprised of select long-lived assets that had not yet met the held for sale criteria. The fair value of these assets was supported by potential sales prices with third-party buyers and market analysis. (3) In connection with our disposal group classified as held for sale, as discussed in Note 8 , during 2019, we recorded impairment charges to adjust long-lived asset values. The fair value of the disposal group was supported by potential sales prices with third-party buyers. In connection with the acquisition of ONE Brands in the third quarter of 2019, as discussed in Note 2 , we used various valuation techniques to determine fair value, with the primary techniques being discounted cash flow analysis, relief-from-royalty, a form of the multi-period excess earnings and the with-and-without valuation approaches, which use significant unobservable inputs, or Level 3 inputs, as defined by the fair value hierarchy. 2018 Activity In connection with the acquisitions of Amplify in the first quarter of 2018 and Pirate Brands in the fourth quarter of 2018, as discussed in Note 2 , we used various valuation techniques to determine fair value, with the primary techniques being discounted cash flow analysis, relief-from-royalty, and a form of the multi-period excess earnings valuation approaches, which use significant unobservable inputs, or Level 3 inputs, as defined by the fair value hierarchy. In connection with disposal groups classified as held for sale, as discussed in Note 8 , during 2018, we recorded impairment charges totaling $57,729 to adjust the long-lived asset values within certain disposal groups, including the Shanghai Golden Monkey ("SGM") and Tyrrells businesses, the LSFC joint venture and other assets. These charges represent the excess of the disposal groups' carrying values, including the related currency translation adjustment amounts realized or to be realized upon completion of the sales, over the sales values less costs to sell for the respective businesses. The fair values of the disposal groups were supported by the sales prices paid by third-party buyers or estimated sales prices based on marketing of the disposal group, when the sale has not yet been completed. The sales of SGM and Tyrrells were both completed in July 2018.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2020
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. 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. As a result of the impact of COVID-19 on our ability to operate certain parts of our business, during the year ended December 31, 2020, we received immaterial rent concessions primarily on select office space. We will continue to evaluate the nature and extent of potential COVID-19 impacts on our lease agreements. The components of lease expense were as follows: Lease expense Classification 2020 2019 Operating lease cost Cost of sales or SM&A (1) $ 44,547 $ 42,580 Finance lease cost: Amortization of ROU assets Depreciation and amortization (1) 8,202 7,821 Interest on lease liabilities Interest expense, net 4,475 4,467 Net lease cost (2) $ 57,224 $ 54,868 (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 were as follows: 2020 2019 Weighted-average remaining lease term (years) Operating leases 12.5 14.3 Finance leases 30.1 31.4 Weighted-average discount rate Operating leases 3.8 % 3.8 % Finance leases 5.9 % 6.0 % Supplemental balance sheet information related to leases were as follows: Leases Classification 2020 2019 Assets Operating lease ROU assets Other non-current assets $ 224,268 $ 220,678 Finance lease ROU assets, at cost Property, plant and equipment, gross 101,426 101,142 Accumulated amortization Accumulated depreciation (13,361) (7,225) Finance lease ROU assets, net Property, plant and equipment, net 88,065 93,917 Total leased assets $ 312,333 $ 314,595 Liabilities Current Operating Accrued liabilities $ 36,578 $ 29,209 Finance Current portion of long-term debt 4,868 4,079 Non-current Operating Other long-term liabilities 181,871 184,163 Finance Long-term debt 75,887 75,564 Total lease liabilities $ 299,204 $ 293,015 The maturity of our lease liabilities as of December 31, 2020 were as follows: Operating leases Finance leases Total 2021 $ 43,841 $ 8,616 $ 52,457 2022 30,135 7,087 37,222 2023 19,628 4,974 24,602 2024 14,778 4,673 19,451 2025 13,144 4,714 17,858 Thereafter 160,247 161,244 321,491 Total lease payments 281,773 191,308 473,081 Less: Imputed interest 63,324 110,553 173,877 Total lease liabilities $ 218,449 $ 80,755 $ 299,204 Supplemental cash flow and other information related to leases were as follows: 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 42,568 $ 39,910 Operating cash flows from finance leases $ 4,475 $ 4,467 Financing cash flows from finance leases $ 4,468 $ 4,018 ROU assets obtained in exchange for lease liabilities: Operating leases $ 38,464 $ 27,890 Finance leases $ 3,992 $ 7,943

ASSETS AND LIABILITIES HELD FOR

ASSETS AND LIABILITIES HELD FOR SALE	12 Months Ended
	Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
Assets and Liabilities Held for Sale	ASSETS AND LIABILITIES HELD FOR SALE As of December 31, 2020, the following disposal group has been classified as held for sale and stated at the lower of net book value or estimated sales value less costs to sell: • In October 2020, we entered into a definitive agreement to divest the LSFC joint venture, which was taken out of operation during the second quarter of 2018. The transaction was subject to government approval and other customary closing conditions. The sale of LSFC was completed in January 2021. Total proceeds from the sale, net of cash divested, was immaterial. During 2019, we completed the sale of one disposal group that had been previously classified as assets held for sale, as follows: • In December 2019, we sold select Pennsylvania facilities and land for sales proceeds of approximately $27,613, resulting in a gain on the sale of $11,289, which is recorded in the selling, marketing and administrative expense caption within the Consolidated Statements of Income. During 2018, we completed the sale of other disposal groups that had been previously classified as assets and liabilities held for sale, as follows: • In April 2018, we sold the licensing rights for a non-core trademark relating to a brand marketed outside of the United States for sale proceeds of approximately $13,000, realizing in a gain on the sale of $2,658, which is recorded in the selling, marketing and administrative expense caption within the Consolidated Statements of Income. • During the second and third quarters of 2018, we sold select China facilities that were taken out of operation and classified as assets held for sale during the first quarter of 2017 in connection with the Operational Optimization Program (as defined in Note 9 ). Proceeds from the sale of these facilities totaled $27,468, resulting in a gain on the sale of $6,562, which is recorded in the business realignment costs caption within the Consolidated Statements of Income. • In July 2018, we sold the Tyrrells and SGM businesses, both of which were previously classified as held for sale. Total proceeds from the sale of Tyrrells and SGM, net of cash divested, were approximately $171,950. We recorded impairment charges of $28,817 to adjust the book values of the disposal groups to the sales value less costs to sell.

BUSINESS REALIGNMENT ACTIVITIES

BUSINESS REALIGNMENT ACTIVITIES	12 Months Ended
	Dec. 31, 2020
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 associated with business realignment activities are classified in our Consolidated Statements of Income as follows: For the years ended December 31, 2020 2019 2018 Cost of sales $ 2,209 $ — $ 11,323 Selling, marketing and administrative expense 10,801 1,126 21,401 Business realignment costs 18,503 8,112 19,103 Costs associated with business realignment activities $ 31,513 $ 9,238 $ 51,827 Costs recorded by program in 2020, 2019 and 2018 related to these activities were as follows: For the years ended December 31, 2020 2019 2018 International Optimization Program: Severance $ 18,977 $ — $ — Other program costs 10,366 — — Margin for Growth Program: Severance (653) 5,178 15,378 Accelerated depreciation — — 9,131 Other program costs 2,823 4,060 30,940 Operational Optimization Program: Gain on sale of facilities — — (6,562) Other program costs — — 2,940 Total $ 31,513 $ 9,238 $ 51,827 The following table presents the liability activity for costs qualifying as exit and disposal costs for the year ended December 31, 2020: Total Liability balance at December 31, 2019 $ 9,118 2020 business realignment charges (1) 29,319 Cash payments (25,689) Liability balance at December 31, 2020 (reported within accrued liabilities and other long-term liabilities) $ 12,748 (1) The costs reflected in the liability roll-forward represent employee-related and certain third-party service provider charges. 2020 International Optimization Program In the fourth quarter of 2020, we commenced a program ("International Optimization Program") to streamline resources and investments in select international markets, including the optimization of our China operating model that will improve our operational efficiency and provide for a strong, sustainable and simplified base going forward. The International Optimization Program is expected to be completed by mid-2022, with total pre-tax costs anticipated to be $50,000 to $75,000. Cash costs are expected to be $40,000 to $65,000, primarily related to workforce reductions of approximately 350 positions outside of the United States, costs to consolidate and relocate production, and third-party costs incurred to execute these activities. The costs and related benefits of the International Optimization Program relate 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. For the year ended December 31, 2020, we recognized total costs associated with the International Optimization Program of $29,343. These charges predominantly included severance and employee benefit costs. In addition, we incurred other program costs, which related to third-party charges in support of our initiative to transform our China operating model. Margin for Growth Program In the first quarter of 2017, the Company's Board of Directors ("Board") unanimously approved several initiatives under a single program 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. For the years end ended December 31, 2020, 2019 and 2018, we recognized total costs associated with the Margin for Growth Program of $2,170, $9,238, and $55,449 respectively. These charges included employee severance, largely relating to initiatives to improve the cost structure of our corporate operating model as part of optimizing our global supply chain. In addition, we incurred other program costs, which related primarily to third-party charges in support of our initiative to improve global efficiency and effectiveness. This project was completed in mid-2020. The costs and related benefits of the Margin for Growth Program relate approximately 63% to the North America segment and 37% 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. 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 2018, we incurred pre-tax costs totaling $2,940, relating primarily to third-party charges in support of our initiative to optimize our production and supply chain network. In addition, we completed the sale of select China facilities in 2018 that had been taken out of service in connection with the Operational Optimization Program resulting in a gain of $6,562. This program was completed in 2018.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The components of income before income taxes were as follows: For the years ended December 31, 2020 2019 2018 Domestic $ 1,405,254 $ 1,211,051 $ 1,195,645 Foreign 89,743 169,733 214,416 Income before income taxes $ 1,494,997 $ 1,380,784 $ 1,410,061 The components of our provision for income taxes were as follows: For the years ended December 31, 2020 2019 2018 Current: Federal $ 117,348 $ 179,358 $ 151,107 State 46,198 38,232 38,243 Foreign 29,158 31,514 13,405 192,704 249,104 202,755 Deferred: Federal 24,486 14,958 35,035 State 3,746 1,865 7,572 Foreign (1,352) (31,895) (6,352) 26,880 (15,072) 36,255 Total provision for income taxes $ 219,584 $ 234,032 $ 239,010 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. During 2018, we recorded net benefits totaling $19.5 million as measurement period adjustments to the net provisional charge related to the one-time mandatory tax on previously deferred earnings of non-U.S. subsidiaries. Additionally, U.S. tax reform subjects a U.S. shareholder to current tax on global intangible low-taxed income ("GILTI") earned by certain foreign subsidiaries. We have elected to not recognize deferred taxes for temporary differences until such differences reverse as GILTI in future years. Deferred taxes reflect temporary differences between the tax basis and financial statement carrying value of assets and liabilities. The significant temporary differences that comprised the deferred tax assets and liabilities are as follows: December 31, 2020 2019 Deferred tax assets: Post-retirement benefit obligations $ 58,059 $ 56,384 Accrued expenses and other reserves 86,412 88,590 Stock-based compensation 18,831 19,304 Derivative instruments 15,550 16,864 Pension 8,203 3,952 Lease liabilities 64,192 64,988 Accrued trade promotion reserves 25,877 21,709 Net operating loss carryforwards 154,445 160,584 Capital loss carryforwards 15,401 26,022 Other 10,027 9,685 Gross deferred tax assets 456,997 468,082 Valuation allowance (193,310) (206,743) Total deferred tax assets 263,687 261,339 Deferred tax liabilities: Property, plant and equipment, net 180,633 161,449 Acquired intangibles 156,439 144,314 Lease ROU assets 46,778 48,419 Inventories 21,086 29,158 Other 58,410 46,984 Total deferred tax liabilities 463,346 430,324 Net deferred tax liabilities $ (199,659) $ (168,985) Included in: Non-current deferred tax assets, net $ 29,369 $ 31,033 Non-current deferred tax liabilities, net (229,028) (200,018) Net deferred tax liabilities $ (199,659) $ (168,985) Changes in deferred taxes were primarily due to accelerated tax depreciation on property, plant and equipment and tax amortization of previously acquired intangibles. The valuation allowances as of December 31, 2020 and 2019 were primarily related to capital loss carryforwards and various foreign jurisdictions' net operating loss carryforwards and other deferred tax assets that we do not expect to realize. The following table reconciles the federal statutory income tax rate with our effective income tax rate: For the years ended December 31, 2020 2019 2018 Federal statutory income tax rate 21.0 % 21.0 % 21.0 % Increase (reduction) resulting from: State income taxes, net of Federal income tax benefits 2.7 1.8 2.7 Business realignment and impairment charges — — 0.6 Foreign rate differences (0.5) (1.5) (2.0) Historic and solar tax credits (7.7) (3.4) (3.5) U.S. tax reform — — (1.4) Tax contingencies 0.1 0.9 0.5 Stock compensation (0.6) (1.3) (0.3) Valuation allowance release — (1.5) — Other, net (0.3) 0.9 (0.6) Effective income tax rate 14.7 % 16.9 % 17.0 % A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: December 31, 2020 2019 Balance at beginning of year $ 108,383 $ 97,530 Additions for tax positions taken during prior years 10,641 9,327 Reductions for tax positions taken during prior years (2,496) (2,080) Additions for tax positions taken during the current year 3,354 10,472 Settlements — (1,151) Expiration of statutes of limitations (11,339) (5,715) Balance at end of year $ 108,543 $ 108,383 The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate was $103,213 as of December 31, 2020 and $102,671 as of December 31, 2019. We report accrued interest and penalties related to unrecognized tax benefits in income tax expense. We recognized a net tax expense of $1,564, $3,824 and $1,785 in 2020, 2019 and 2018 , respectively, for interest and penalties. Accrued net interest and penalties were $11,542 as of December 31, 2020 and $9,978 as of December 31, 2019. The Company and its subsidiaries file tax returns in the United States, including various state and local returns, and in other foreign jurisdictions. We are routinely audited by taxing authorities in our filing jurisdictions, and a number of these disputes are currently underway, including multi-year controversies at various stages of review, negotiation and litigation in Malaysia, Mexico, and the United States. The outcome of tax audits cannot be predicted with certainty, including the timing of resolution or potential settlements. If any issues addressed in our tax audits are resolved in a manner not consistent with management’s expectations, we could be required to adjust our provision for income taxes in the period such resolution occurs. Based on our current assessments, we believe adequate provision has been made for all income tax uncertainties. We reasonably expect reductions in the liability for unrecognized tax benefits of approximately $6,803 within the next 12 months because of the expiration of statutes of limitations and settlements of tax audits. As of December 31, 2020, we had approximately $762,601 of undistributed earnings of our international subsidiaries. During 2020, previously undistributed earnings of certain international subsidiaries were no longer considered indefinitely reinvested; however, the Company had previously recognized a one-time U.S. repatriation tax due under U.S. tax reform, and as a result, only an immaterial amount of withholding tax was recognized. We intend to continue to reinvest the remainder of the earnings outside of the United States for which there would be a material tax implication to distributing, such as withholding tax, for the foreseeable future and, therefore, have not recognized additional tax expense on these earnings beyond the one-time U.S. repatriation tax due under the 2017 Tax Cuts and Jobs Act. Investments in Partnerships Qualifying for Tax Credits We invest in partnerships which make equity investments in projects eligible to receive federal historic and energy tax credits. The investments are accounted for under the equity method and reported within other non-current assets in our Consolidated Balance Sheets. The tax credits, when realized, are recognized as a reduction of tax expense under the flow-through method, at which time the corresponding equity investment is written-down to reflect the remaining value of the future benefits to be realized. For the years ended December 31, 2020, 2019 and 2018 we recognized investment tax credits and related outside basis difference benefits totaling $146,021, $58,798 and $60,111, respectively, and we wrote-down the equity investment by $125,579, $50,457 and $50,329, respectively, to reflect the realization of these benefits. The equity investment write-down is reflected within other (income) expense, net in the Consolidated Statements of Income (see Note 1 7 ).

PENSION AND OTHER POST-RETIREME

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Pension and Other Post-Retirement Benefit Plans	PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS We sponsor a number of defined benefit pension plans. The primary plans are The Hershey Company Retirement Plan and The Hershey Company Retirement Plan for Hourly Employees. These are cash balance plans that provide pension benefits for most domestic employees hired prior to January 1, 2007. We also sponsor two post-retirement benefit plans: health care and life insurance. The health care plan is contributory, with participants’ contributions adjusted annually. The life insurance plan is non-contributory. Obligations and Funded Status A summary of the changes in benefit obligations, plan assets and funded status of these plans is as follows: Pension Benefits Other Benefits December 31, 2020 2019 2020 2019 Change in benefit obligation Projected benefit obligation at beginning of year $ 1,105,206 $ 1,031,206 $ 230,457 $ 214,719 Service cost 21,734 20,878 159 151 Interest cost 26,112 35,756 6,029 7,837 Actuarial loss 90,140 89,092 15,218 23,635 Settlement (52,938) (21,445) — — Currency translation and other 1,822 2,956 254 589 Benefits paid (23,238) (53,237) (8,809) (16,474) Projected benefit obligation at end of year 1,168,838 1,105,206 243,308 230,457 Change in plan assets Fair value of plan assets at beginning of year 1,053,438 963,861 — — Actual return on plan assets 118,812 157,931 — — Employer contributions 2,862 3,660 8,809 16,474 Settlement (52,938) (21,445) — — Currency translation and other 1,309 2,668 — — Benefits paid (23,238) (53,237) (8,809) (16,474) Fair value of plan assets at end of year 1,100,245 1,053,438 — — Funded status at end of year $ (68,593) $ (51,768) $ (243,308) $ (230,457) Amounts recognized in the Consolidated Balance Sheets: Other assets $ 8,308 $ 10,481 $ — $ — Accrued liabilities (6,174) (3,476) (19,801) (19,251) Other long-term liabilities (70,727) (58,773) (223,507) (211,206) Total $ (68,593) $ (51,768) $ (243,308) $ (230,457) Amounts recognized in Accumulated Other Comprehensive Income (Loss), net of tax: Actuarial net (loss) gain $ (205,193) $ (216,443) $ (10,718) $ 444 Net prior service credit (cost) 21,706 27,031 — (219) Net amounts recognized in AOCI $ (183,487) $ (189,412) $ (10,718) $ 225 The project benefit obligation during 2020 was impacted by actuarial loss of $90,140 which was the result of the discount rate assumption decreasing from 3.1% at December 31, 2019 to 2.3% at December 31, 2020. The accumulated benefit obligation for all defined benefit pension plans was $1,123,102 as of December 31, 2020 and $1,063,955 as of December 31, 2019. Plans with accumulated benefit obligations in excess of plan assets were as follows: December 31, 2020 2019 Projected benefit obligation $ 759,200 $ 709,651 Accumulated benefit obligation 718,335 674,017 Fair value of plan assets 682,299 647,402 Net Periodic Benefit Cost The components of net periodic benefit cost were as follows: Pension Benefits Other Benefits For the years ended December 31, 2020 2019 2018 2020 2019 2018 Amounts recognized in net periodic benefit cost Service cost $ 21,734 $ 20,878 $ 21,223 $ 159 $ 151 $ 230 Interest cost 26,112 35,756 31,943 6,029 7,837 6,923 Expected return on plan assets (52,907) (54,520) (58,612) — — — Amortization of prior service (credit) cost (7,308) (7,230) (7,202) 300 811 836 Amortization of net loss (gain) 26,952 32,647 26,875 (39) (385) — Curtailment credit — — (299) — — — Settlement loss 13,421 5,498 20,211 — — — Total net periodic benefit cost $ 28,004 $ 33,029 $ 34,139 $ 6,449 $ 8,414 $ 7,989 Change in plan assets and benefit obligations recognized in AOCI, pre-tax Actuarial net (gain) loss $ (15,606) $ (52,028) $ 3,715 $ 15,266 $ 23,956 $ (10,771) Prior service cost (credit) 7,310 7,232 7,198 (300) (810) (838) Total recognized in other comprehensive (income) loss, pre-tax $ (8,296) $ (44,796) $ 10,913 $ 14,966 $ 23,146 $ (11,609) Net amounts recognized in periodic benefit cost and AOCI $ 19,708 $ (11,767) $ 45,052 $ 21,415 $ 31,560 $ (3,620) The non-service cost components of net periodic benefit cost relating to pension and other post-retirement benefit plans is reflected within other (income) expense, net in the Consolidated Statements of Income (see Note 1 7 ). Assumptions The weighted-average assumptions used in computing the year end benefit obligations were as follows: Pension Benefits Other Benefits December 31, 2020 2019 2020 2019 Discount rate 2.3 % 3.1 % 2.5 % 3.2 % Rate of increase in compensation levels 3.5 % 3.6 % N/A N/A Interest crediting rate 4.7 % 4.7 % N/A N/A The weighted-average assumptions used in computing net periodic benefit cost were as follows: Pension Benefits Other Benefits For the years ended December 31, 2020 2019 2018 2020 2019 2018 Discount rate 3.1 % 4.1 % 3.4 % 3.2 % 4.2 % 3.5 % Expected long-term return on plan assets 5.3 % 5.9 % 5.8 % N/A N/A N/A Rate of compensation increase 3.6 % 3.6 % 3.8 % N/A N/A N/A The Company’s discount rate assumption is determined by developing a yield curve based on high quality corporate bonds with maturities matching the plans’ expected benefit payment streams. The plans’ expected cash flows are then discounted by the resulting year-by-year spot rates. We base the asset return assumption on current and expected asset allocations, as well as historical and expected returns on the plan asset categories. We utilize a full yield curve approach in the estimation of service and interest costs by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows. This approach provides a more precise measurement of service and interest costs by improving the correlation between the projected cash flows to the corresponding spot rates along the yield curve. This approach does not affect the measurement of our pension and other post-retirement benefit liabilities but generally results in lower benefit expense in periods when the yield curve is upward sloping. For purposes of measuring our post-retirement benefit obligation at December 31, 2020, we assumed a 6.1% annual rate of increase in the per capita cost of covered health care benefits for 2021, grading down to 5.0% by 2025. For purposes of measuring our post-retirement benefit obligation at December 31, 2019, we assumed a 6.4% annual rate of increase in the per capita cost of covered health care benefits for 2020, grading down to 5.0% by 2025. The valuations and assumptions reflect adoption of the Society of Actuaries updated Pri-2012 mortality tables with MP-2020 and MP-2019 generational projection scales, which we adopted as of December 31, 2020 and 2019, respectively. Adoption of the updated scales did not have a significant impact on our current pension obligations or net period benefit cost since our primary plans are cash balance plans and most participants take lump-sum settlements upon retirement. Plan Assets We broadly diversify our pension plan assets across public equity, fixed income, diversified credit strategies and diversified alternative strategies asset classes. Our target asset allocation for our major domestic pension plans as of December 31, 2020 was as follows: Asset Class Target Asset Allocation Cash 1% Equity securities 24% Fixed income securities 51% Alternative investments, including real estate, listed infrastructure and other 24% As of December 31, 2020, actual allocations were consistent with the targets and within our allowable ranges. We expect the level of volatility in pension plan asset returns to be in line with the overall volatility of the markets within each asset class. The following table sets forth by level, within the fair value hierarchy (as defined in Note 6 ), pension plan assets at their fair values as of December 31, 2020: Quoted prices in active Significant other observable inputs Significant other unobservable inputs Investments Using NAV as a Practical Expedient Cash and cash equivalents $ 613 $ 21,287 $ — $ 576 $ 22,476 Equity securities: Global all-cap (a) — — — 264,909 264,909 Fixed income securities: U.S. government/agency — — — 215,573 215,573 Corporate bonds (b) — — — 155,648 155,648 International government/corporate bonds (c) — — — 32,586 32,586 Diversified credit (d) — — — 160,829 160,829 Alternative investments: Global diversified assets (e) — — — 117,290 117,290 Global real estate investment trusts (f) — — — 60,083 60,083 Global infrastructure (g) — — — 70,851 70,851 Total pension plan assets $ 613 $ 21,287 $ — $ 1,078,345 $ 1,100,245 The following table sets forth by level, within the fair value hierarchy, pension plan assets at their fair values as of December 31, 2019: Quoted prices in active Significant other observable inputs Significant other unobservable inputs Investments Using NAV as a Practical Expedient Total Cash and cash equivalents $ 365 $ 13,194 $ — $ 629 $ 14,188 Equity securities: Global all-cap (a) — — — 248,222 248,222 Fixed income securities: U.S. government/agency — — — 264,066 264,066 Corporate bonds (b) — — — 136,896 136,896 International government/corporate bonds (c) — — — 32,407 32,407 Diversified credit (d) — — — 103,793 103,793 Alternative investments: Global diversified assets (e) — — — 146,681 146,681 Global real estate investment trusts (f) — — — 53,159 53,159 Global infrastructure (g) — — — 54,026 54,026 Total pension plan assets $ 365 $ 13,194 $ — $ 1,039,879 $ 1,053,438 (1) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy but are included to reconcile to the amounts presented in our Obligations and Funded Status table. (a) This category comprises equity funds that primarily track the MSCI World Index or MSCI All Country World Index. (b) This category comprises fixed income funds primarily invested in investment grade and high yield bonds. (c) This category comprises fixed income funds primarily invested in Canadian and other international bonds. (d) This category comprises fixed income funds primarily invested in high yield bonds, loans, securitized debt, and emerging market debt. (e) This category comprises diversified funds invested across alternative asset classes. (f) This category comprises equity funds primarily invested in publicly traded real estate securities. (g) This category comprises equity funds primarily invested in publicly traded listed infrastructure securities. The fair value of the Level 1 assets was based on quoted prices in active markets for the identical assets. The fair value of the Level 2 assets was determined by management based on an assessment of valuations provided by asset management entities and was calculated by aggregating market prices for all underlying securities. Investment objectives for our domestic plan assets are: • To ensure high correlation between the value of plan assets and liabilities; • To maintain careful control of the risk level within each asset class; and • To focus on a long-term return objective. We believe that there are no significant concentrations of risk within our plan assets as of December 31, 2020. We comply with the rules and regulations promulgated under the Employee Retirement Income Security Act of 1974 (“ERISA”) and we prohibit investments and investment strategies not allowed by ERISA. We do not permit direct purchases of our Company’s securities or the use of derivatives for the purpose of speculation. We invest the assets of non-domestic plans in compliance with laws and regulations applicable to those plans. Cash Flows and Plan Termination Our policy is to fund domestic pension liabilities in accordance with the limits imposed by the ERISA, federal income tax laws and the funding requirements of the Pension Protection Act of 2006. We fund non-domestic pension liabilities in accordance with laws and regulations applicable to those plans. We made total contributions to the pension plans of $2,862 during 2020. In 2019, we made total contributions of $3,660 to the pension plans. For 2021, minimum funding requirements for our pension plans are approximately $1,611. Total benefit payments expected to be paid to plan participants, including pension benefits funded from the plans and other benefits funded from Company assets, are as follows: Expected Benefit Payments 2021 2022 2023 2024 2025 2026-2030 Pension Benefits $ 116,050 $ 101,245 $ 98,348 $ 94,155 $ 90,546 $ 369,540 Other Benefits 19,769 18,174 17,167 16,244 15,227 64,235 Savings Plans The Company sponsors several defined contribution plans to provide retirement benefits to employees. Contributions to The Hershey Company 401(k) Plan and similar plans for non-domestic employees are based on a portion of eligible pay up to a defined maximum. All matching contributions were made in cash. Expense associated with the defined contribution plans was $52,793 in 2020, $47,651 in 2019 and $47,959 in 2018.

STOCK COMPENSATION PLANS

STOCK COMPENSATION PLANS	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock Compensation Plans	STOCK COMPENSATION PLANS Share-based grants for compensation and incentive purposes are made pursuant to the Equity and Incentive Compensation Plan (“EICP”). The EICP provides for grants of one or more of the following stock-based compensation awards to employees, non-employee directors and certain service providers upon whom the successful conduct of our business is dependent: • Non-qualified stock options ("stock options"); • Performance stock units ("PSUs") and performance stock; • Stock appreciation rights; • Restricted stock units ("RSUs") and restricted stock; and • Other stock-based awards. As of December 31, 2020, 65.8 million shares were authorized and approved by our stockholders for grants under the EICP. The EICP also provides for the deferral of stock-based compensation awards by participants if approved by the Compensation and Executive Organization Committee of our Board and if in accordance with an applicable deferred compensation plan of the Company. Currently, the Compensation and Executive Organization Committee has authorized the deferral of PSU and RSU awards by certain eligible employees under the Company’s Deferred Compensation Plan. Our Board has authorized our non-employee directors to defer any portion of their cash retainer, committee chair fees and RSUs awarded that they elect to convert into deferred stock units under our Directors’ Compensation Plan. At the time stock options are exercised or PSUs and RSUs become payable, Common Stock is issued from our accumulated treasury shares. Dividend equivalents are credited on RSUs on the same date and at the same rate as dividends paid on our Common Stock. Dividend equivalents are charged to retained earnings and included in accrued liabilities until paid. Awards to employees eligible for retirement prior to the award becoming fully vested are amortized to expense over the period through the date that the employee first becomes eligible to retire and is no longer required to provide service to earn the award. In addition, historical data is used to estimate forfeiture rates and record share-based compensation expense only for those awards that are expected to vest. For the periods presented, compensation expense for all types of stock-based compensation programs and the related income tax benefit recognized were as follows: For the years ended December 31, 2020 2019 2018 Pre-tax compensation expense $ 57,584 $ 51,899 $ 49,286 Related income tax benefit 8,580 9,030 9,463 Compensation expenses for stock compensation plans are primarily included in selling, marketing and administrative expense. As of December 31, 2020, total stock-based compensation expense related to non-vested awards not yet recognized was $60,198 and the weighted-average period over which this amount is expected to be recognized was approximately 1.9 years. Stock Options The exercise price of each stock option awarded under the EICP equals the closing price of our Common Stock on the New York Stock Exchange on the date of grant. Each stock option has a maximum term of 10 years. Grants of stock options provide for pro-rated vesting, typically over a four A summary of activity relating to grants of stock options for the year ended December 31, 2020 is as follows: Stock Options Shares Weighted-Average Weighted-Average Remaining Aggregate Intrinsic Value Outstanding at beginning of the period 2,420,461 $97.80 5.7 years Granted 15,260 $157.32 Exercised (553,131) $92.70 Forfeited (42,779) $102.44 Outstanding as of December 31, 2020 1,839,811 $99.72 4.9 years $ 96,873 Options exercisable as of December 31, 2020 1,406,063 $98.29 4.2 years $ 75,977 The weighted-average fair value of options granted was $21.31, $15.25 and $15.58 per share in 2020, 2019 and 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: For the years ended December 31, 2020 2019 2018 Dividend yields 2.1 % 2.7 % 2.4 % Expected volatility 17.5 % 17.0 % 16.6 % Risk-free interest rates 1.3 % 2.5 % 2.8 % Expected term in years 6.7 6.5 6.6 • "Dividend yields" means the sum of dividends declared for the four most recent quarterly periods, divided by the average price of our Common Stock for the comparable periods; • "Expected volatility" means the historical volatility of our Common Stock over the expected term of each grant; • "Risk-free interest rates" means the U.S. Treasury yield curve rate in effect at the time of grant for periods within the contractual life of the stock option; and • "Expected term" means the period of time that stock options granted are expected to be outstanding based on historical data. The total intrinsic value of options exercised was $32,121, $115,786 and $38,382 in 2020, 2019 and 2018, respectively. As of December 31, 2020, there was $2,138 of total unrecognized compensation expense related to non-vested stock option awards granted under the EICP, which we expect to recognize over a weighted-average period of 1.3 years. The following table summarizes information about stock options outstanding as of December 31, 2020: Options Outstanding Options Exercisable Range of Exercise Prices Number Weighted- Weighted- Number Weighted- $34.89 - $96.65 451,518 3.5 $83.35 447,523 $83.24 $96.66 - $105.91 699,982 6.1 $101.70 409,235 $102.90 $105.92 - $157.32 688,311 4.5 $108.44 549,305 $107.13 $34.89 - $157.32 1,839,811 4.9 $99.72 1,406,063 $98.29 Performance Stock Units and Restricted Stock Units Under the EICP, we grant PSUs to selected executives and other key employees. Vesting is contingent upon the achievement of certain performance objectives. We grant PSUs over 3-year performance cycles. If we meet targets for financial measures at the end of the applicable 3-year performance cycle, we award a resulting number of shares of our Common Stock to the participants. The number of shares may be increased to the maximum or reduced to the minimum threshold based on the results of these performance metrics in accordance with the terms established at the time of the award . For PSUs granted, the target award is a combination of a market-based total shareholder return and performance-based components. For market-based condition components, market volatility and other factors are taken into consideration in determining the grant date fair value and the related compensation expense is recognized regardless of whether the market condition is satisfied, provided that the requisite service has been provided. For performance-based condition components, we estimate the probability that the performance conditions will be achieved each quarter and adjust compensation expenses accordingly. The performance scores of PSUs granted in 2020, 2019, and 2018 can range from 0% to 250% of the targeted amounts. We recognize the compensation expense associated with PSUs ratably over the 3-year term. Compensation expense is based on the grant date fair value because the grants can only be settled in shares of our Common Stock. The grant date fair value of PSUs is determined based on the Monte Carlo simulation model for the market-based total shareholder return component and the closing market price of the Company’s Common Stock on the date of grant for performance-based components. In 2020, 2019 and 2018, we awarded RSUs to certain executive officers and other key employees under the EICP. We also awarded RSUs quarterly to non-employee directors. We recognize the compensation expense associated with employee RSUs over a specified award vesting period based on the grant date fair value of our Common Stock. We recognize expense for employee RSUs based on the straight-line method. The compensation expense associated with non-employee director RSUs is recognized ratably over the vesting period, net of estimated forfeitures. A summary of activity relating to grants of PSUs and RSUs for the period ended December 31, 2020 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 1,089,916 $112.52 Granted 353,037 $161.30 Performance assumption change (1) 128,431 $140.39 Vested (378,913) $109.99 Forfeited (139,139) $124.74 Outstanding at end of year 1,053,332 $135.11 (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. For the years ended December 31, 2020 2019 2018 Units granted 353,037 493,828 457,315 Weighted-average fair value at date of grant $ 161.30 $ 115.94 $ 97.86 Monte Carlo simulation assumptions: Estimated values $ 80.08 $ 48.40 $ 29.17 Dividend yields 2.0 % 2.6 % 2.6 % Expected volatility 17.3 % 20.3 % 20.4 % • "Estimated values" means the fair value for the market-based total shareholder return component of each PSU at the date of grant using a Monte Carlo simulation model; • "Dividend yields" means the sum of dividends declared for the four most recently quarterly periods, divided by the average price of our Common Stock for the comparable periods; • "Expected volatility" means the historical volatility of our Common Stock over the expected term of each grant. The fair value of shares vested totaled $56,294, $51,739 and $28,752 in 2020, 2019 and 2018, respectively. Deferred PSUs, deferred RSUs and deferred stock units representing directors’ fees totaled 254,269 units as of December 31, 2020. Each unit is equivalent to one share of the Company’s Common Stock.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2020
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 primarily 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 91% 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. Accounting policies associated with our operating segments are generally the same as those described in Note 1 . 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: For the years ended December 31, 2020 2019 2018 Net sales: North America $ 7,416,697 $ 7,081,764 $ 6,901,607 International and Other 733,022 904,488 889,462 Total $ 8,149,719 $ 7,986,252 $ 7,791,069 Segment income: North America $ 2,321,823 $ 2,125,861 $ 2,020,082 International and Other 28,592 95,702 73,762 Total segment income 2,350,415 2,221,563 2,093,844 Unallocated corporate expense (1) 520,632 532,539 528,887 Unallocated mark-to-market losses (gains) on commodity derivatives 6,429 (28,651) (168,263) Long-lived and intangible asset impairment charges (see Note 6 ) 9,143 112,485 57,729 Costs associated with business realignment activities (see Note 9 ) 31,513 9,238 51,827 Operating profit 1,782,698 1,595,952 1,623,664 Interest expense, net (see Note 4 ) 149,374 144,125 138,837 Other (income) expense, net (see Note 17 ) 138,327 71,043 74,766 Income before income taxes $ 1,494,997 $ 1,380,784 $ 1,410,061 (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, (d) acquisition-related costs, and (e) 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: For the years ended December 31, 2020 2019 2018 Net gains on mark-to-market valuation of commodity derivative positions recognized in income $ (6,593) $ (35,488) $ (69,379) Net gains (losses) on commodity derivative positions reclassified from unallocated to segment income 13,022 6,837 (98,884) Net losses (gains) on mark-to-market valuation of commodity derivative positions recognized in unallocated derivative losses (gains) $ 6,429 $ (28,651) $ (168,263) As of December 31, 2020, 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 $62,537. 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 $40,766 to segment operating results in the next twelve months. Depreciation and amortization expense included within segment income presented above is as follows: For the years ended December 31, 2020 2019 2018 North America $ 222,153 $ 220,513 $ 205,340 International and Other 28,693 29,289 35,656 Corporate (1) 44,061 41,742 54,148 Total $ 294,907 $ 291,544 $ 295,144 (1) Corporate includes non-cash asset-related accelerated depreciation and amortization related to business realignment activities, as discussed in Note 9 . Such amounts are not included within our measure of segment income. Additional information regarding our net sales and long-lived assets disaggregated by geographical region is as follows: For the years ended December 31, 2020 2019 2018 Net sales: United States $ 7,042,804 $ 6,722,617 $ 6,535,675 Other 1,106,915 1,263,635 1,255,394 Total $ 8,149,719 $ 7,986,252 $ 7,791,069 Long-lived assets: United States $ 1,836,114 $ 1,717,606 $ 1,668,186 Other 449,141 435,533 462,108 Total $ 2,285,255 $ 2,153,139 $ 2,130,294 The majority of our products are confectionery or confectionery-based and include chocolate and non-chocolate confectionery products, gum and mint refreshment products, spreads, snack bites and mixes, as well as pantry items such as baking ingredients, toppings and sundae syrups. Our snacks portfolio includes ready-to-eat popcorn, baked and trans fat free snacks, protein bars and other better-for-you snacks. Additional information regarding our net sales disaggregated by product line is as follows: For the year ended December 31, 2020 2019 2018 Net sales: Confectionery and confectionery-based portfolio $ 7,628,926 $ 7,553,954 $ 7,453,364 Snacks portfolio 520,793 432,298 337,705 Total $ 8,149,719 $ 7,986,252 $ 7,791,069

EQUITY AND NONCONTROLLING INTER

EQUITY AND NONCONTROLLING INTEREST	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Equity and Noncontrolling Interest	EQUITY AND NONCONTROLLING INTEREST We had 1,055,000,000 authorized shares of capital stock as of December 31, 2020. Of this total, 900,000,000 shares were designated as Common Stock, 150,000,000 shares were designated as Class B Common Stock ("Class B Stock") and 5,000,000 shares were designated as Preferred Stock. Each class has a par value of one dollar per share. Holders of the Common Stock and the Class B Stock generally vote together without regard to class on matters submitted to stockholders, including the election of directors. The holders of Common Stock have 1 vote per share and the holders of Class B Common Stock have 10 votes per share. However, the Common Stock holders, voting separately as a class, are entitled to elect one-sixth of the Board. With respect to dividend rights, the Common Stock holders are entitled to cash dividends 10% higher than those declared and paid on the Class B Common Stock. Class B Stock can be converted into Common Stock on a share-for-share basis at any time. During 2020 and 2019 no shares of Class B Stock were converted into Common Stock. During 2018, 6,000 shares of Class B Stock were converted into Common Stock. Changes in the outstanding shares of Common Stock for the past three years were as follows: For the years ended December 31, 2020 2019 2018 Shares issued 221,553,025 359,901,744 359,901,744 Treasury shares at beginning of year (12,723,592) (150,172,840) (149,040,927) Stock repurchases: Shares repurchased in the open market under pre-approved share repurchase programs (951,138) (1,386,193) (1,406,093) Shares repurchased directly from the Milton Hershey School Trust — — (450,000) Shares repurchased to replace Treasury Stock issued for stock options and incentive compensation (450,000) (2,674,349) (615,719) Stock issuances: Shares issued for stock options and incentive compensation 798,832 3,161,071 1,339,899 Retirement of treasury shares — 138,348,719 — Treasury shares at end of year (13,325,898) (12,723,592) (150,172,840) Change in Common Stock due to retirement of treasury shares — (138,348,719) — Net shares outstanding at end of year 208,227,127 208,829,433 209,728,904 We are authorized to purchase our outstanding shares in open market and privately negotiated transactions. The programs have no expiration date and acquired shares of Common Stock will be held as treasury shares. Purchases under approved share repurchase authorizations are in addition to our practice of buying back shares sufficient to offset those issued under incentive compensation plans. Retirement of Treasury Shares During 2019, we retired 138,348,719 shares or $6,423,267 of the Company’s treasury shares previously repurchased. Under the applicable state law, these shares resume the status of authorized and unissued shares upon retirement. In accordance with our accounting policy, we record any excess of repurchase price over par value to retained earnings. As a result, our retained earnings were reduced by $6,284,919 during 2019. This transaction was approved by the Board on October 11, 2019. Hershey Trust Company Hershey Trust Company, as trustee for the Milton Hershey School Trust (the "Trust") and as direct owner of investment shares, held 123,600 shares of our Common Stock as of December 31, 2020. As trustee for the Trust, Hershey Trust Company held 60,612,012 shares of the Class B Common Stock as of December 31, 2020, and was entitled to cast approximately 80% of all of the votes entitled to be cast on matters requiring the vote of both classes of our common stock voting together. Hershey Trust Company, as trustee for the Trust, or any successor trustee, or Milton Hershey School, as appropriate, must approve any issuance of shares of Common Stock or other action that would result in it not continuing to have voting control of our Company. In November 2018, the Company entered into a Stock Purchase Agreement with Hershey Trust Company, as trustee for the Trust, pursuant to which the Company purchased 450,000 shares of the Company’s common stock from the Trust at a price equal to $106.30 per share, for a total purchase price of $47,835. Noncontrolling Interest in Subsidiary We currently own a 50% controlling interest in LSFC, a joint venture established in 2007 in China for the purpose of manufacturing and selling product to the joint venture partners. As discussed in Not e 8 , in October 2020, we entered into a definitive agreement to divest LSFC. The sale of LSFC was completed in January 2021. A roll-forward showing the 2020 activity relating to the noncontrolling interest follows: Noncontrolling Interest Balance, December 31, 2019 $ 5,772 Net loss attributable to noncontrolling interest (3,295) Other comprehensive income - foreign currency translation adjustments 1,054 Balance, December 31, 2020 $ 3,531 The 2020 net loss attributable to the noncontrolling interest reflects the 50% allocation of LSFC-related business realignment and impairment costs (see Note 9

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Purchase obligations We enter into certain obligations for the purchase of raw materials. These obligations are primarily in the form of forward contracts for the purchase of raw materials from third-party brokers and dealers. These contracts minimize the effect of future price fluctuations by fixing the price of part or all of these purchase obligations. Total obligations consisted of fixed price contracts for the purchase of commodities and unpriced contracts that were valued using market prices as of December 31, 2020. The cost of commodities associated with the unpriced contracts is variable as market prices change over future periods. We mitigate the variability of these costs to the extent that we have entered into commodities futures contracts or other commodity derivative instruments to hedge our costs for those periods. Increases or decreases in market prices are offset by gains or losses on commodities futures contracts or other commodity derivative instruments. Taking delivery of and making payments for the specific commodities for use in the manufacture of finished goods satisfies our obligations under the forward purchase contracts. For each of the three years in the period ended December 31, 2020, we satisfied these obligations by taking delivery of and making payment for the specific commodities. As of December 31, 2020, we had entered into agreements for the purchase of raw materials with various suppliers. Subject to meeting our quality standards, the purchase obligations covered by these agreements were as follows as of December 31, 2020: in millions 2021 2022 2023 2024 2025 Purchase obligations $ 1,548.9 $ 309.7 $ 21.8 $ 1.5 $ 1.5 Environmental contingencies We have a number of facilities that contain varying amounts of asbestos in certain locations within the facilities. Our asbestos management program is compliant with current applicable regulations, which require that we handle or dispose of asbestos in a special manner if such facilities undergo major renovations or are demolished. We do not have sufficient information to estimate the fair value of any asset retirement obligations related to these facilities. We cannot specify the settlement date or range of potential settlement dates and, therefore, sufficient information is not available to apply an expected present value technique. We expect to maintain the facilities with repairs and maintenance activities that would not involve or require the removal of significant quantities of asbestos. Legal 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. Collective Bargaining As of December 31, 2020, the Company employed approximately 15,200 full-time and 1,680 part-time employees worldwide. Collective bargaining agreements covered approximately 6,285 employees, or approximately 37% of the Company’s employees worldwide. During 2021, agreements will be negotiated for certain employees at four facilities outside of the United States, comprising approximately 70% of total employees under collective bargaining agreements. We currently expect that we will be able to renegotiate such agreements on satisfactory terms when they expire.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2020
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: For the years ended December 31, 2020 2019 2018 Common Stock Class B Common Stock Common Stock Class B Common Stock Common Stock Class B Common Stock Basic earnings per share: Numerator: Allocation of distributed earnings (cash dividends paid) $ 467,013 $ 173,719 $ 445,685 $ 164,627 $ 410,732 $ 151,789 Allocation of undistributed earnings 464,802 173,174 393,731 145,649 449,372 165,669 Total earnings—basic $ 931,815 $ 346,893 $ 839,416 $ 310,276 $ 860,104 $ 317,458 Denominator (shares in thousands): Total weighted-average shares—basic 147,832 60,614 148,841 60,614 149,379 60,614 Earnings Per Share—basic $ 6.30 $ 5.72 $ 5.64 $ 5.12 $ 5.76 $ 5.24 Diluted earnings per share: Numerator: Allocation of total earnings used in basic computation $ 931,815 $ 346,893 $ 839,416 $ 310,276 $ 860,104 $ 317,458 Reallocation of total earnings as a result of conversion of Class B common stock to Common stock 346,893 — 310,276 — 317,458 — Reallocation of undistributed earnings — (822) — (886) — (803) Total earnings—diluted $ 1,278,708 $ 346,071 $ 1,149,692 $ 309,390 $ 1,177,562 $ 316,655 Denominator (shares in thousands): Number of shares used in basic computation 147,832 60,614 148,841 60,614 149,379 60,614 Weighted-average effect of dilutive securities: Conversion of Class B common stock to Common shares outstanding 60,614 — 60,614 — 60,614 — Employee stock options 600 — 785 — 651 — Performance and restricted stock units 368 — 462 — 345 — Total weighted-average shares—diluted 209,414 60,614 210,702 60,614 210,989 60,614 Earnings Per Share—diluted $ 6.11 $ 5.71 $ 5.46 $ 5.10 $ 5.58 $ 5.22 The earnings per share calculations for the years ended December 31, 2020, 2019 and 2018 excluded 15, 1,476 and 4,196 stock options (in thousands), respectively, that would have been antidilutive.

OTHER (INCOME) EXPENSE, NET OTH

OTHER (INCOME) EXPENSE, NET OTHER (INCOME) EXPENSE, NET	12 Months Ended
	Dec. 31, 2020
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: For the years ended December 31, 2020 2019 2018 Write-down of equity investments in partnerships qualifying for historic and solar tax credits (see N ote 10 ) $ 125,579 $ 50,457 $ 50,329 Non-service cost components of net periodic benefit cost relating to pension and other post-retirement benefit plans (see Note 11 ) 12,560 20,415 20,672 Other (income) expense, net 188 171 3,765 Total $ 138,327 $ 71,043 $ 74,766

SUPPLEMENTAL BALANCE SHEET INFO

SUPPLEMENTAL BALANCE SHEET INFORMATION	12 Months Ended
	Dec. 31, 2020
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: December 31, 2020 2019 Inventories: Raw materials $ 388,600 $ 271,125 Goods in process 104,841 98,842 Finished goods 645,664 614,698 Inventories at FIFO 1,139,105 984,665 Adjustment to LIFO (174,898) (169,414) Total inventories $ 964,207 $ 815,251 Prepaid expenses and other: Prepaid expenses $ 95,669 $ 84,058 Other current assets 158,809 156,022 Total prepaid expenses and other $ 254,478 $ 240,080 Property, plant and equipment: Land $ 131,513 $ 105,627 Buildings 1,387,106 1,298,985 Machinery and equipment 3,169,754 3,120,003 Construction in progress 276,514 209,788 Property, plant and equipment, gross 4,964,887 4,734,403 Accumulated depreciation (2,679,632) (2,581,264) Property, plant and equipment, net $ 2,285,255 $ 2,153,139 Other non-current assets: Capitalized software, net $ 187,673 $ 153,842 Operating lease ROU assets 224,268 220,678 Other non-current assets 143,946 137,480 Total other non-current assets $ 555,887 $ 512,000 Accrued liabilities: Payroll, compensation and benefits $ 237,342 $ 230,518 Advertising, promotion and product allowances 309,537 279,440 Operating lease liabilities 36,578 29,209 Other 198,309 163,205 Total accrued liabilities $ 781,766 $ 702,372 Other long-term liabilities: Post-retirement benefits liabilities $ 223,507 $ 211,206 Pension benefits liabilities 70,727 58,773 Operating lease liabilities 181,871 184,163 Other 207,329 201,635 Total other long-term liabilities $ 683,434 $ 655,777 Accumulated other comprehensive loss: Foreign currency translation adjustments $ (98,525) $ (83,704) Pension and post-retirement benefit plans, net of tax (194,205) (189,187) Cash flow hedges, net of tax (45,352) (51,075) Total accumulated other comprehensive loss $ (338,082) $ (323,966)

QUARTERLY DATA (Unaudited)

QUARTERLY DATA (Unaudited)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Quarterly Data (Unaudited)	QUARTERLY DATA (Unaudited) Summary quarterly results were as follows: Year 2020 First Second Third Fourth Net sales $ 2,037,317 $ 1,707,329 $ 2,219,829 $ 2,185,244 Gross profit 866,622 792,552 1,080,024 962,071 Net income attributable to The Hershey Company 271,137 268,901 447,283 291,387 Common stock: Net income per share—Basic (a) 1.33 1.33 2.21 1.44 Net income per share—Diluted (a) 1.29 1.29 2.14 1.39 Dividends paid per share 0.773 0.773 0.804 0.804 Class B common stock: Net income per share—Basic (a) 1.21 1.21 2.00 1.31 Net income per share—Diluted (a) 1.21 1.20 2.00 1.30 Dividends paid per share 0.702 0.702 0.731 0.731 Market price—common stock: High 160.95 146.46 149.59 155.12 Low 111.43 125.85 126.75 137.46 Year 2019 First Second Third Fourth Net sales $ 2,016,488 $ 1,767,217 $ 2,134,422 $ 2,068,125 Gross profit 892,504 874,744 943,318 911,912 Net income attributable to The Hershey Company 304,358 312,840 325,307 207,187 Common stock: Net income per share—Basic (a) 1.49 1.54 1.59 1.02 Net income per share—Diluted (a) 1.45 1.48 1.54 0.98 Dividends paid per share 0.722 0.722 0.773 0.773 Class B common stock: Net income per share—Basic (a) 1.36 1.39 1.45 0.93 Net income per share—Diluted (a) 1.36 1.38 1.44 0.92 Dividends paid per share 0.656 0.656 0.702 0.702 Market price—common stock: High 114.83 138.32 161.40 157.70 Low 104.30 113.84 134.25 140.29 (a) Quarterly income per share amounts do not total to the annual amount due to changes in weighted-average shares outstanding during the year.

SCHEDULE II - VALUATION AND QUA

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Schedule II - Valuation and Qualifying Accounts	SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS For the Years Ended December 31, 2020, 2019 and 2018 Additions Description Balance at Charged to Costs and Expenses Charged Deductions Balance In thousands of dollars For the year ended December 31, 2020 Allowances deducted from assets Accounts receivable—trade, net (a) $ 24,966 $ 180,764 $ — $ (180,755) $ 24,975 Valuation allowance on net deferred taxes (b) 206,743 2,603 — (16,036) 193,310 Inventory obsolescence reserve (c) 22,049 27,162 — (31,508) 17,703 Total allowances deducted from assets $ 253,758 $ 210,529 $ — $ (228,299) $ 235,988 For the year ended December 31, 2019 Allowances deducted from assets Accounts receivable—trade, net (a) $ 24,610 $ 159,140 $ — $ (158,784) $ 24,966 Valuation allowance on net deferred taxes (b) 239,959 (26,270) — (6,946) 206,743 Inventory obsolescence reserve (c) 20,136 27,157 — (25,244) 22,049 Total allowances deducted from assets $ 284,705 $ 160,027 $ — $ (190,974) $ 253,758 For the year ended December 31, 2018 Allowances deducted from assets Accounts receivable—trade, net (a) $ 41,792 $ 222,819 $ — $ (240,001) $ 24,610 Valuation allowance on net deferred taxes (b) 312,148 18,413 — (90,602) 239,959 Inventory obsolescence reserve (c) 19,348 32,379 — (31,591) 20,136 Total allowances deducted from assets $ 373,288 $ 273,611 $ — $ (362,194) $ 284,705 (a) Includes allowances for doubtful accounts, anticipated discounts and write-offs of uncollectible accounts receivable. (b) Includes adjustments to the valuation allowance for deferred tax assets that we do not expect to realize, as well as the release of valuation allowances. (c) Includes adjustments to the inventory reserve, transfers, disposals and write-offs of obsolete inventory.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Description of Business and Basis of Presentation	Description of Business The Hershey Company together with its wholly-owned subsidiaries and entities in which it has a controlling interest, (the “Company,” “Hershey,” “we” or “us”) is a global confectionery leader known for its branded portfolio of chocolate, sweets, mints and other great-tasting snacks. The Company has more than 90 brands worldwide including such iconic brand names as Hershey’s, Reese’s, Kisses, Jolly Rancher and Ice Breakers, which are marketed, sold and distributed in approximately 85 countries worldwide. Hershey's structure is designed to ensure continued focus on North America, coupled with an emphasis on profitable growth in our focus international markets. The Company currently operates through two reportable segments that are aligned with its management structure and the key markets it serves: North America and International and Other. For additional information on our segment presentation, see Note 13 . Basis of Presentation Our consolidated financial statements include the accounts of The Hershey Company and its majority-owned or controlled subsidiaries. Intercompany transactions and balances have been eliminated. We have a controlling financial interest if we own a majority of the outstanding voting common stock and minority shareholders do not have substantive participating rights, we have significant control through contractual or economic interests in which we are the primary beneficiary or we have the power to direct the activities that most significantly impact the entity's economic performance. We use the equity method of accounting when we have a 20% to 50% interest in other companies and exercise significant influence. See Note 14 for information on our noncontrolling interest. In addition, we use the equity method of accounting for our investments in partnership entities which make equity investments in projects eligible to receive federal historic and energy tax credits. See Note 10 for additional information on our equity investments in partnership entities qualifying for tax credits. Other investments that are not controlled, and over which we do not have the ability to exercise significant influence, are accounted for under the cost method. Both equity and cost method investments are included as Other non-current assets in the Consolidated Balance Sheets.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying disclosures. Our significant estimates and assumptions include, among others, pension and other post-retirement benefit plan assumptions, valuation assumptions of goodwill and other intangible assets, useful lives of long-lived assets, marketing and trade promotion accruals and income taxes. These estimates and assumptions are based on management’s best judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and the effects of any revisions are reflected in the consolidated financial statements in the period that they are determined. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates.
Revenue Recognition	Revenue Recognition The majority of our revenue contracts represent a single performance obligation related to the fulfillment of customer orders for the purchase of our products, including chocolate, sweets, mints and other grocery and snack offerings. Net sales reflect the transaction prices for these contracts based on our selling list price which is then reduced by estimated costs for trade promotional programs, consumer incentives, and allowances and discounts associated with aged or potentially unsaleable products. We recognize revenue at the point in time that control of the ordered product(s) is transferred to the customer, which is typically upon delivery to the customer or other customer-designated delivery point. Amounts billed and due from our customers are classified as accounts receivables on the balance sheet and require payment on a short-term basis. Our trade promotional programs and consumer incentives are used to promote our products and include, but are not limited to, discounts, coupons, rebates, in-store display incentives, and volume-based incentives. The estimated costs associated with these programs and incentives are based upon our analysis of the programs offered, expectations regarding customer and consumer participation, historical sales and payment trends, and our experience with payment patterns associated with similar programs offered in the past. The estimated costs of these programs are reasonably likely to change in future periods due to changes in trends with regard to customer and consumer participation, particularly for new programs and for programs related to the introduction of new products. Differences between estimated expense and actual program performance are recognized as a change in estimate in a subsequent period and are normally not significant. During 2020, 2019 and 2018, actual promotional costs have not deviated from the estimated amount by more than 2%. The Company’s unsettled portion remaining in accrued liabilities at year-end for these activities was $195,563 and $180,959 at December 31, 2020 and 2019, respectively. We also recognize a minor amount of royalty income (less than 1% of our consolidated net sales) from sales-based licensing arrangements, pursuant to which revenue is recognized as the third-party licensee sales occur. Shipping and handling costs incurred to deliver product to the customer are recorded within cost of sales. Sales, value add and other taxes we collect concurrent with revenue producing activities are excluded from revenue. The majority of our products are confectionery or confectionery-based and, therefore, exhibit similar economic characteristics, as they are based on similar ingredients and are marketed and sold through the same channels to the same customers. In connection with our recent acquisitions, we have expanded our portfolio of snacking products, which also exhibit similar economic characteristics to our confectionery products and are sold through the same channels to the same customers. See Note 13 for revenues reported by geographic segment, which is consistent with how we organize and manage our operations, as well as product line net sales information.
Cost of Sales	Cost of Sales Cost of sales represents costs directly related to the manufacture and distribution of our products. Primary costs include raw materials, packaging, direct labor, overhead, shipping and handling, warehousing and the depreciation of manufacturing, warehousing and distribution facilities. Manufacturing overhead and related expenses include salaries, wages, employee benefits, utilities, maintenance and property taxes.
Selling, Marketing and Administrative Expense	Selling, Marketing and Administrative Expense Selling, marketing and administrative expense (“SM&A”) represents costs incurred in generating revenues and in managing our business. Such costs include advertising and other marketing expenses, selling expenses, research and development costs, administrative and other indirect overhead costs, amortization of capitalized software and intangible assets and depreciation of administrative facilities.
Cash Equivalents	Cash Equivalents Cash equivalents consist of highly liquid debt instruments, time deposits and money market funds with original maturities of three months or less. The fair value of cash and cash equivalents approximates the carrying amount.
Accounts Receivable - Trade	Accounts Receivable—Trade In the normal course of business, we extend credit to customers that satisfy pre-defined credit criteria, based upon the results of our recurring financial account reviews and our evaluation of current and projected economic conditions. Our primary concentration of credit risk is associated with McLane Company, Inc., one customer served principally by our North America segment. As of December 31, 2020, McLane Company, Inc. accounted for approximately 24% of our total accounts receivable. No other customer accounted for more than 10% of our year-end accounts receivable. We believe that we have little concentration of credit risk associated with the remainder of our customer base. Accounts receivable-trade in the Consolidated Balance Sheets is presented net of allowances for bad debts and anticipated discounts of $24,975 and $24,966 at December 31, 2020 and 2019, respectively.
Inventories	Inventories Inventories are valued at the lower of cost or market value, adjusted for the value of inventory that is estimated to be excess, obsolete or otherwise unsaleable. As of December 31, 2020, approximately 63% of our inventories, representing the majority of our United States ("U.S.") inventories, were valued under the last-in, first-out (“LIFO”) method. The remainder of our inventories in the U.S. and inventories for our international businesses were valued at the lower of first-in, first-out (“FIFO”) cost or net realizable value. LIFO cost of inventories valued using the LIFO method was $606,282 as of December 31, 2020 and $501,459 as of December 31, 2019. The adjustment to LIFO, as shown in Note 18
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment is stated at cost and depreciated on a straight-line basis over the estimated useful lives of the assets, as follows: 3 to 15 years for machinery and equipment; and 25 to 40 years for buildings and related improvements. At December 31, 2020 and December 31, 2019, property, plant and equipment included assets under finance lease arrangements with net book values totaling $88,065 and $93,917, respectively. Total depreciation expense for the years ended December 31, 2020, 2019 and 2018 was $219,021, $218,096 and $231,012, respectively, and included depreciation on assets recorded under finance lease arrangements. Maintenance and repairs are expensed as incurred. We capitalize applicable interest charges incurred during the construction of new facilities and production lines and amortize these costs over the assets’ estimated useful lives. We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. We measure the recoverability of assets to be held and used by a comparison of the carrying amount of long-lived assets to future undiscounted net cash flows expected to be generated.
Computer Software	Computer Software We capitalize costs associated with software developed or obtained for internal use when both the preliminary project stage is completed and it is probable the software being developed will be completed and placed in service. Capitalized costs include only (i) external direct costs of materials and services consumed in developing or obtaining internal-use software, (ii) payroll and other related costs for employees who are directly associated with and who devote time to the internal-use software project and (iii) interest costs incurred, when material, while developing internal-use software. We cease capitalization of such costs no later than the point at which the project is substantially complete and ready for its intended purpose. The unamortized amount of capitalized software totaled $187,673 and $153,842 at December 31, 2020 and 2019, respectively. We amortize software costs using the straight-line method over the expected life of the software, generally 3 to 7 years. Accumulated amortization of capitalized software was $360,579 and $338,449 as of 2020 and 2019, respectively. Such amounts are recorded within other assets in the Consolidated Balance Sheets.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill and indefinite-lived intangible assets are not amortized, but are evaluated for impairment annually or more often if indicators of a potential impairment are present. Our annual impairment tests are conducted at the beginning of the fourth quarter. We test goodwill for impairment by performing either a qualitative or quantitative assessment. If we choose to perform a qualitative assessment, we evaluate economic, industry and company-specific factors in assessing the fair value of the related reporting unit. If we determine that it is more likely than not that the fair value of the reporting unit is less than its carrying value, a quantitative test is then performed. Otherwise, no further testing is required. For those reporting units tested using a quantitative approach, we compare the fair value of each reporting unit with the carrying amount of the reporting unit, including goodwill. If the estimated fair value of the reporting unit is less than the carrying amount of the reporting unit, impairment is indicated, requiring recognition of a goodwill impairment charge for the differential (up to the carrying value of goodwill). We test individual indefinite-lived intangible assets by comparing the estimated fair values with the book values of each asset. We determine the fair value of our reporting units and indefinite-lived intangible assets using an income approach. Under the income approach, we calculate the fair value of our reporting units and indefinite-lived intangible assets based on the present value of estimated future cash flows. Considerable management judgment is necessary to evaluate the impact of operating and macroeconomic changes and to estimate the future cash flows used to measure fair value. Our estimates of future cash flows consider past performance, current and anticipated market conditions and internal projections and operating plans which incorporate estimates for sales growth and profitability, and cash flows associated with taxes and capital spending. Additional assumptions include forecasted growth rates, estimated discount rates, which may be risk-adjusted for the operating market of the reporting unit, and estimated royalty rates that would be charged for comparable branded licenses. We believe such assumptions also reflect current and anticipated market conditions and are consistent with those that would be used by other marketplace participants for similar valuation purposes. Such assumptions are subject to change due to changing economic and competitive conditions. The cost of intangible assets with finite useful lives is amortized on a straight-line basis. Our finite-lived intangible assets consist primarily of certain trademarks, customer-related intangible assets and patents obtained through business acquisitions. The weighted-average amortization period for our finite-lived intangible assets is approximately 32 years, which is primarily driven by recently acquired trademarks. If certain events or changes in operating conditions indicate that the carrying value of these assets, or related asset groups, may not be recoverable, we perform an impairment assessment and may adjust the remaining useful lives. See Note 3 for additional information regarding the results of impairment tests.
Currency Translation	Currency TranslationThe financial statements of our foreign entities with functional currencies other than the U.S. dollar are translated into U.S. dollars, with the resulting translation adjustments recorded as a component of other comprehensive income (loss). Assets and liabilities are translated into U.S. dollars using the exchange rates in effect at the balance sheet date, while income and expense items are translated using the average exchange rates during the period.
Derivative Instruments	Derivative Instruments We use derivative instruments principally to offset exposure to market risks arising from changes in commodity prices, foreign currency exchange rates and interest rates. See Note 5 for additional information on our risk management strategy and the types of instruments we use. Derivative instruments are recognized on the Consolidated Balance Sheets at their fair values. When we become party to a derivative instrument and intend to apply hedge accounting, we designate the instrument for financial reporting purposes as a cash flow or fair value hedge. The accounting for changes in fair value (gains or losses) of a derivative instrument depends on whether we have designated it and it qualified as part of a hedging relationship, as noted below: • Changes in the fair value of a derivative that is designated as a cash flow hedge are recorded in accumulated other comprehensive income (“AOCI”) to the extent effective and reclassified into earnings in the same period or periods during which the transaction hedged by that derivative also affects earnings. • Changes in the fair value of a derivative that is designated as a fair value hedge, along with the offsetting loss or gain on the hedged asset or liability that is attributable to the risk being hedged, are recorded in earnings, thereby reflecting in earnings the net extent to which the hedge is not effective in achieving offsetting changes in fair value. • Changes in the fair value of a derivative not designated as a hedging instrument are recognized in earnings in cost of sales or SM&A, consistent with the related exposure. For derivatives designated as hedges, we assess, both at the hedge's inception and on an ongoing basis, whether they are highly effective in offsetting changes in fair values or cash flows of hedged items. The ineffective portion, if any, is recorded directly in earnings. In addition, if we determine that a derivative is not highly effective as a hedge or that it has ceased to be a highly effective hedge, we discontinue hedge accounting prospectively. We do not hold or issue derivative instruments for trading or speculative purposes and are not a party to any instruments with leverage or prepayment features.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In August 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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 elected to early adopt the provisions of this ASU in the fourth quarter of 2019. Adoption of the new standard did not have a material impact on our consolidated financial statements. 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 adopted the provisions of this ASU in the first quarter of 2020. Adoption of the new standard did not have a material impact on our consolidated financial statements. 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 adopted the provisions of this ASU in the first quarter of 2020. Adoption of the new standard did not have a material impact on our consolidated financial statements. 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 adopted the provisions of this ASU in the first quarter of 2020 on a prospective basis. Adoption of the new standard did not have a material impact on our consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes . This ASU is intended to simplify various aspects related to accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and clarifying certain aspects of the current guidance to promote consistency among reporting entities. ASU 2019-12 is effective for annual periods beginning after December 15, 2020 and interim periods within those annual periods, with early adoption permitted. An entity that elects early adoption must adopt all the amendments in the same period. Most amendments within this ASU are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. We adopted the provisions of this ASU in the fourth quarter of 2020. Adoption of the new standard did not have a material impact on our consolidated financial statements. Recently Issued Accounting Pronouncements Not Yet Adopted In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . The ASU is intended to provide temporary optional expedients and exceptions to the GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. Entities may apply this ASU upon issuance through December 31, 2022 on a prospective basis. We are currently evaluating the impact of the new standard on our consolidated financial statements and related disclosures. No other new accounting pronouncement issued or effective during the fiscal year had or is expected to have a material impact on our consolidated financial statements or disclosures.

BUSINESS ACQUISITIONS AND DIV_2

BUSINESS ACQUISITIONS AND DIVESTITURES (Tables)	12 Months Ended
	Dec. 31, 2020
ONE Brands, LLC
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: Goodwill $ 180,065 Other intangible assets 206,800 Other assets acquired, primarily current assets 25,435 Other liabilities assumed, primarily current liabilities (10,140) Net assets acquired $ 402,160
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 Property, plant 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 Property, plant 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) Other long-term liabilities (5,149) Net assets acquired $ 915,457

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2020
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 years ended December 31, 2020 and 2019 are as follows: North America International and Other Total Goodwill $ 1,787,818 $ 375,633 $ 2,163,451 Accumulated impairment loss (4,973) (357,375) (362,348) Balance at January 1, 2019 1,782,845 18,258 1,801,103 Acquired during the period 178,179 — 178,179 Measurement period adjustments 1,061 — 1,061 Foreign currency translation 5,381 231 5,612 Balance at December 31, 2019 1,967,466 18,489 1,985,955 Measurement period adjustments (see Note 2 ) 825 — 825 Foreign currency translation 2,154 (719) 1,435 Balance at December 31, 2020 $ 1,970,445 $ 17,770 $ 1,988,215
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: December 31, 2020 2019 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Intangible assets subject to amortization: Trademarks $ 1,211,086 $ (104,939) $ 1,212,172 $ (73,262) Customer-related 204,101 (49,616) 207,749 (40,544) Patents 8,556 (8,542) 16,711 (16,525) Total 1,423,743 (163,097) 1,436,632 (130,331) Intangible assets not subject to amortization: Trademarks 34,568 34,865 Total other intangible assets $ 1,295,214 $ 1,341,166
Schedule of Amortization Expense, for the Next Five Years	Amortization expense for the next five years, based on current intangible asset balances, is estimated to be as follows: Year ending December 31, 2021 2022 2023 2024 2025 Amortization expense $ 46,329 $ 46,315 $ 46,121 $ 45,540 $ 45,540

SHORT AND LONG-TERM DEBT (Table

SHORT AND LONG-TERM DEBT (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt consisted of the following: December 31, Maturity Date 2020 2019 2.900% Notes (1) May 15, 2020 $ — $ 350,000 4.125% Notes (1) December 1, 2020 — 350,000 8.800% Debentures February 15, 2021 84,715 84,715 3.100% Notes May 15, 2021 350,000 350,000 2.625% Notes May 1, 2023 250,000 250,000 3.375% Notes May 15, 2023 500,000 500,000 2.050% Notes (3) November 15, 2024 300,000 300,000 0.900% Notes (2) June 1, 2025 300,000 — 3.200% Notes August 21, 2025 300,000 300,000 2.300% Notes August 15, 2026 500,000 500,000 7.200% Debentures August 15, 2027 193,639 193,639 2.450% Notes (3) November 15, 2029 300,000 300,000 1.700% Notes (2) June 1, 2030 350,000 — 3.375% Notes August 15, 2046 300,000 300,000 3.125% Notes (3) November 15, 2049 400,000 400,000 2.650% Notes (2) June 1, 2050 350,000 — Finance lease obligations (see Note 7 ) 80,755 79,643 Net impact of interest rate swaps, debt issuance costs and unamortized debt discounts (30,525) (23,794) Total long-term debt 4,528,584 4,234,203 Less—current portion 438,829 703,390 Long-term portion $ 4,089,755 $ 3,530,813 (1) In May 2020, we repaid $350,000 of 2.900% Notes due upon their maturity. In December 2020, we repaid $350,000 of 4.125% Notes due upon their maturity. (2) During the second quarter of 2020, we issued $300,000 of 0.900% Notes due in 2025, $350,000 of 1.700% Notes due in 2030 and $350,000 of 2.650% Notes due in 2050 (the "2020 Notes"). Proceeds from the issuance of the 2020 Notes, net of discounts and issuance costs, totaled $989,876. The 2020 Notes were issued under a shelf registration statement on Form S-3 filed in May 2018 that registered an indeterminate amount of debt securities. (3) In October 2019, we issued $300,000 of 2.05% Notes due in 2024, $300,000 of 2.45% Notes due in 2029 and $400,000 of 3.125% Notes due in 2049 (the "2019 Notes"). Proceeds from the issuance of the 2019 Notes, net of discounts and issuance costs, totaled $990,337. The 2019 Notes were issued under a shelf registration statement on Form S-3 filed in May 2018 that registered an indeterminate amount of debt securities.
Schedule of Maturities of Long-term Debt	Aggregate annual maturities of our long-term Notes (excluding finance lease obligations and net impact of interest rate swaps, debt issuance costs and unamortized debt discounts) are as follows for the years ending December 31: 2021 $ 434,715 2022 — 2023 750,000 2024 300,000 2025 600,000 Thereafter 2,393,639
Schedule of Net Interest Expense	Net interest expense consists of the following: For the years ended December 31, 2020 2019 2018 Interest expense $ 160,204 $ 157,707 $ 151,950 Capitalized interest (6,733) (5,585) (5,092) Interest expense 153,471 152,122 146,858 Interest income (4,097) (7,997) (8,021) Interest expense, net $ 149,374 $ 144,125 $ 138,837

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
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 the classification of derivative assets and liabilities within the Consolidated Balance Sheets as of December 31, 2020 and 2019: December 31, 2020 2019 Assets (1) Liabilities (1) Assets (1) Liabilities (1) Derivatives designated as cash flow hedging instruments: Foreign exchange contracts $ 2,388 $ 5,522 $ 1,235 $ 1,779 Derivatives designated as fair value hedging instruments: Interest rate swap agreements — — 555 — Derivatives not designated as hedging instruments: Commodities futures and options (2) 3,299 1,648 9,080 626 Deferred compensation derivatives 3,630 — 2,557 — Foreign exchange contracts 176 93 1,496 — 7,105 1,741 13,133 626 Total $ 9,493 $ 7,263 $ 14,923 $ 2,405 (1) Derivatives assets are classified on our Consolidated Balance Sheets within prepaid expenses and other as well as other non-current assets. Derivative liabilities are classified on our Consolidated Balance Sheets within accrued liabilities and other long-term liabilities. (2) As of December 31, 2020, amounts reflected on a net basis in assets were assets of $32,674 and liabilities of $29,376, 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 The following table presents amounts that were recorded on the Consolidated Balance Sheets related to cumulative basis adjustments for interest rate swap derivatives designated as fair value accounting hedges as of December 31, 2020 and 2019. Line Item in the Consolidated Balance Sheets in Which the Hedged Item is Included Carrying Amount of the Hedged Liability Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount Assets 2020 2019 2020 2019 Long-term debt $ — $ (349,445) $ — $ 555
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 years ended December 31, 2020 and 2019 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 AOCI into income (b) 2020 2019 2020 2019 2020 2019 Commodities futures and options $ 6,593 $ 35,488 $ — $ — $ — $ — Foreign exchange contracts (1,584) 410 (780) (2,515) 1,810 939 Interest rate swap agreements — — — — (9,589) (9,343) Deferred compensation derivatives 4,934 6,738 — — — — Total $ 9,943 $ 42,636 $ (780) $ (2,515) $ (7,779) $ (8,404) (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)	12 Months Ended
	Dec. 31, 2020
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 Sheets on a recurring basis as of December 31, 2020 and 2019: Assets (Liabilities) Level 1 Level 2 Level 3 Total December 31, 2020: Derivative Instruments: Assets: Foreign exchange contracts (1) $ — $ 2,564 $ — $ 2,564 Deferred compensation derivatives (3) — 3,630 — 3,630 Commodities futures and options (4) 3,299 — — 3,299 Liabilities: Foreign exchange contracts (1) — 5,615 — 5,615 Commodities futures and options (4) 1,648 — — 1,648 December 31, 2019: Assets: Foreign exchange contracts (1) $ — $ 2,731 $ — $ 2,731 Interest rate swap agreements (2) — 555 — 555 Deferred compensation derivatives (3) — 2,557 — 2,557 Commodities futures and options (4) 9,080 — — 9,080 Liabilities: Foreign exchange contracts (1) — 1,779 — 1,779 Commodities futures and options (4) 626 — — 626 (1) The fair value of foreign currency forward exchange contracts is the difference between the contract and current market foreign currency exchange rates at the end of the period. We estimate the fair value of foreign currency forward exchange contracts on a quarterly basis by obtaining market quotes of spot and forward rates for contracts with similar terms, adjusted where necessary for maturity differences. (2) The fair value of interest rate swap agreements represents the difference in the present value of cash flows calculated at the contracted interest rates and at current market interest rates at the end of the period. We calculate the fair value of interest rate swap agreements quarterly based on the quoted market price for the same or similar financial instruments. (3) The fair value of deferred compensation derivatives is based on quoted prices for market interest rates and a broad market equity index. (4) The fair value of commodities futures and options contracts is based on quoted market prices.
Schedule of 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 At December 31, 2020 2019 2020 2019 Current portion of long-term debt $ 443,215 $ 712,863 $ 438,829 $ 703,390 Long-term debt 4,479,499 3,656,540 4,089,755 3,530,813 Total $ 4,922,714 $ 4,369,403 $ 4,528,584 $ 4,234,203
Schedule of Other Fair Value Measurements	2020 Activity During 2020, we recorded the following impairment charges, which use significant unobservable inputs, or Level 3 inputs, as defined by the fair value hierarchy: 2020 Adjustment to disposal group (1) $ 6,200 Other asset write-down (2) 2,943 Long-lived asset impairment charges $ 9,143 (1) In connection with our disposal group classified as held for sale, as discussed in Note 8 , during 2020, we recorded impairment charges to adjust long-lived asset values. The fair value of the disposal group was supported by potential sales prices with third-party buyers. The sale of the Lotte Shanghai Foods Co., Ltd. ("LSFC") joint venture (disposal group) was completed in January 2021. (2) In connection with a previous sale, the Company wrote-down certain receivables deemed uncollectible. 2019 Activity During 2019, we recorded the following impairment charges, which use significant unobservable inputs, or Level 3 inputs, as defined by the fair value hierarchy: 2019 Customer relationship and trademark intangible assets (1) $ 100,131 Other long-lived assets not held for sale (2) 9,629 Adjustment to disposal group (3) 2,725 Long-lived and intangible asset impairment charges $ 112,485 (1) During the fourth quarter of 2019, as discussed in Note 3 , we recorded impairment charges to write down customer relationship and trademark intangible assets associated with Krave. These charges were determined by comparing the fair value of the asset group to its carrying value. We used various valuation techniques to determine fair value, with the primary techniques being discounted cash flow analysis and relief-from-royalty valuation approaches, which use significant unobservable inputs, or Level 3 inputs, as defined by the fair value hierarchy. (2) During 2019, we recorded impairment charges predominantly comprised of select long-lived assets that had not yet met the held for sale criteria. The fair value of these assets was supported by potential sales prices with third-party buyers and market analysis. (3) In connection with our disposal group classified as held for sale, as discussed in Note 8 , during 2019, we recorded impairment charges to adjust long-lived asset values. The fair value of the disposal group was supported by potential sales prices with third-party buyers.

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Schedule of Components of Lease Expense	The components of lease expense were as follows: Lease expense Classification 2020 2019 Operating lease cost Cost of sales or SM&A (1) $ 44,547 $ 42,580 Finance lease cost: Amortization of ROU assets Depreciation and amortization (1) 8,202 7,821 Interest on lease liabilities Interest expense, net 4,475 4,467 Net lease cost (2) $ 57,224 $ 54,868 (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 were as follows: 2020 2019 Weighted-average remaining lease term (years) Operating leases 12.5 14.3 Finance leases 30.1 31.4 Weighted-average discount rate Operating leases 3.8 % 3.8 % Finance leases 5.9 % 6.0 %
Schedule of Supplemental Balance Sheet Information	Supplemental balance sheet information related to leases were as follows: Leases Classification 2020 2019 Assets Operating lease ROU assets Other non-current assets $ 224,268 $ 220,678 Finance lease ROU assets, at cost Property, plant and equipment, gross 101,426 101,142 Accumulated amortization Accumulated depreciation (13,361) (7,225) Finance lease ROU assets, net Property, plant and equipment, net 88,065 93,917 Total leased assets $ 312,333 $ 314,595 Liabilities Current Operating Accrued liabilities $ 36,578 $ 29,209 Finance Current portion of long-term debt 4,868 4,079 Non-current Operating Other long-term liabilities 181,871 184,163 Finance Long-term debt 75,887 75,564 Total lease liabilities $ 299,204 $ 293,015 The components of certain Consolidated Balance Sheet accounts are as follows: December 31, 2020 2019 Inventories: Raw materials $ 388,600 $ 271,125 Goods in process 104,841 98,842 Finished goods 645,664 614,698 Inventories at FIFO 1,139,105 984,665 Adjustment to LIFO (174,898) (169,414) Total inventories $ 964,207 $ 815,251 Prepaid expenses and other: Prepaid expenses $ 95,669 $ 84,058 Other current assets 158,809 156,022 Total prepaid expenses and other $ 254,478 $ 240,080 Property, plant and equipment: Land $ 131,513 $ 105,627 Buildings 1,387,106 1,298,985 Machinery and equipment 3,169,754 3,120,003 Construction in progress 276,514 209,788 Property, plant and equipment, gross 4,964,887 4,734,403 Accumulated depreciation (2,679,632) (2,581,264) Property, plant and equipment, net $ 2,285,255 $ 2,153,139 Other non-current assets: Capitalized software, net $ 187,673 $ 153,842 Operating lease ROU assets 224,268 220,678 Other non-current assets 143,946 137,480 Total other non-current assets $ 555,887 $ 512,000 Accrued liabilities: Payroll, compensation and benefits $ 237,342 $ 230,518 Advertising, promotion and product allowances 309,537 279,440 Operating lease liabilities 36,578 29,209 Other 198,309 163,205 Total accrued liabilities $ 781,766 $ 702,372 Other long-term liabilities: Post-retirement benefits liabilities $ 223,507 $ 211,206 Pension benefits liabilities 70,727 58,773 Operating lease liabilities 181,871 184,163 Other 207,329 201,635 Total other long-term liabilities $ 683,434 $ 655,777 Accumulated other comprehensive loss: Foreign currency translation adjustments $ (98,525) $ (83,704) Pension and post-retirement benefit plans, net of tax (194,205) (189,187) Cash flow hedges, net of tax (45,352) (51,075) Total accumulated other comprehensive loss $ (338,082) $ (323,966)
Schedule of Maturity of Operating Lease Liabilities	The maturity of our lease liabilities as of December 31, 2020 were as follows: Operating leases Finance leases Total 2021 $ 43,841 $ 8,616 $ 52,457 2022 30,135 7,087 37,222 2023 19,628 4,974 24,602 2024 14,778 4,673 19,451 2025 13,144 4,714 17,858 Thereafter 160,247 161,244 321,491 Total lease payments 281,773 191,308 473,081 Less: Imputed interest 63,324 110,553 173,877 Total lease liabilities $ 218,449 $ 80,755 $ 299,204
Schedule of Maturity of Finance Lease Liabilities	The maturity of our lease liabilities as of December 31, 2020 were as follows: Operating leases Finance leases Total 2021 $ 43,841 $ 8,616 $ 52,457 2022 30,135 7,087 37,222 2023 19,628 4,974 24,602 2024 14,778 4,673 19,451 2025 13,144 4,714 17,858 Thereafter 160,247 161,244 321,491 Total lease payments 281,773 191,308 473,081 Less: Imputed interest 63,324 110,553 173,877 Total lease liabilities $ 218,449 $ 80,755 $ 299,204
Schedule of Supplemental Cash Flow Information Related To Leases	Supplemental cash flow and other information related to leases were as follows: 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 42,568 $ 39,910 Operating cash flows from finance leases $ 4,475 $ 4,467 Financing cash flows from finance leases $ 4,468 $ 4,018 ROU assets obtained in exchange for lease liabilities: Operating leases $ 38,464 $ 27,890 Finance leases $ 3,992 $ 7,943

BUSINESS REALIGNMENT ACTIVITI_2

BUSINESS REALIGNMENT ACTIVITIES (Tables)	12 Months Ended
	Dec. 31, 2020
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: For the years ended December 31, 2020 2019 2018 Cost of sales $ 2,209 $ — $ 11,323 Selling, marketing and administrative expense 10,801 1,126 21,401 Business realignment costs 18,503 8,112 19,103 Costs associated with business realignment activities $ 31,513 $ 9,238 $ 51,827 Costs recorded by program in 2020, 2019 and 2018 related to these activities were as follows: For the years ended December 31, 2020 2019 2018 International Optimization Program: Severance $ 18,977 $ — $ — Other program costs 10,366 — — Margin for Growth Program: Severance (653) 5,178 15,378 Accelerated depreciation — — 9,131 Other program costs 2,823 4,060 30,940 Operational Optimization Program: Gain on sale of facilities — — (6,562) Other program costs — — 2,940 Total $ 31,513 $ 9,238 $ 51,827
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 year ended December 31, 2020: Total Liability balance at December 31, 2019 $ 9,118 2020 business realignment charges (1) 29,319 Cash payments (25,689) Liability balance at December 31, 2020 (reported within accrued liabilities and other long-term liabilities) $ 12,748

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Income (Loss) Before Income Taxes	The components of income before income taxes were as follows: For the years ended December 31, 2020 2019 2018 Domestic $ 1,405,254 $ 1,211,051 $ 1,195,645 Foreign 89,743 169,733 214,416 Income before income taxes $ 1,494,997 $ 1,380,784 $ 1,410,061
Schedule of Components of Income Tax Expense (Benefit)	The components of our provision for income taxes were as follows: For the years ended December 31, 2020 2019 2018 Current: Federal $ 117,348 $ 179,358 $ 151,107 State 46,198 38,232 38,243 Foreign 29,158 31,514 13,405 192,704 249,104 202,755 Deferred: Federal 24,486 14,958 35,035 State 3,746 1,865 7,572 Foreign (1,352) (31,895) (6,352) 26,880 (15,072) 36,255 Total provision for income taxes $ 219,584 $ 234,032 $ 239,010
Schedule of Deferred Tax Asset and Liabilities	The significant temporary differences that comprised the deferred tax assets and liabilities are as follows: December 31, 2020 2019 Deferred tax assets: Post-retirement benefit obligations $ 58,059 $ 56,384 Accrued expenses and other reserves 86,412 88,590 Stock-based compensation 18,831 19,304 Derivative instruments 15,550 16,864 Pension 8,203 3,952 Lease liabilities 64,192 64,988 Accrued trade promotion reserves 25,877 21,709 Net operating loss carryforwards 154,445 160,584 Capital loss carryforwards 15,401 26,022 Other 10,027 9,685 Gross deferred tax assets 456,997 468,082 Valuation allowance (193,310) (206,743) Total deferred tax assets 263,687 261,339 Deferred tax liabilities: Property, plant and equipment, net 180,633 161,449 Acquired intangibles 156,439 144,314 Lease ROU assets 46,778 48,419 Inventories 21,086 29,158 Other 58,410 46,984 Total deferred tax liabilities 463,346 430,324 Net deferred tax liabilities $ (199,659) $ (168,985) Included in: Non-current deferred tax assets, net $ 29,369 $ 31,033 Non-current deferred tax liabilities, net (229,028) (200,018) Net deferred tax liabilities $ (199,659) $ (168,985)
Schedule of Effective Income Tax Rate Reconciliation	The following table reconciles the federal statutory income tax rate with our effective income tax rate: For the years ended December 31, 2020 2019 2018 Federal statutory income tax rate 21.0 % 21.0 % 21.0 % Increase (reduction) resulting from: State income taxes, net of Federal income tax benefits 2.7 1.8 2.7 Business realignment and impairment charges — — 0.6 Foreign rate differences (0.5) (1.5) (2.0) Historic and solar tax credits (7.7) (3.4) (3.5) U.S. tax reform — — (1.4) Tax contingencies 0.1 0.9 0.5 Stock compensation (0.6) (1.3) (0.3) Valuation allowance release — (1.5) — Other, net (0.3) 0.9 (0.6) Effective income tax rate 14.7 % 16.9 % 17.0 %
Schedule of Unrecognized Tax Benefits Roll Forward	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: December 31, 2020 2019 Balance at beginning of year $ 108,383 $ 97,530 Additions for tax positions taken during prior years 10,641 9,327 Reductions for tax positions taken during prior years (2,496) (2,080) Additions for tax positions taken during the current year 3,354 10,472 Settlements — (1,151) Expiration of statutes of limitations (11,339) (5,715) Balance at end of year $ 108,543 $ 108,383

PENSION AND OTHER POST-RETIRE_2

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Schedule of Defined Benefit Obligations, Plan Assets, and Funded Status	A summary of the changes in benefit obligations, plan assets and funded status of these plans is as follows: Pension Benefits Other Benefits December 31, 2020 2019 2020 2019 Change in benefit obligation Projected benefit obligation at beginning of year $ 1,105,206 $ 1,031,206 $ 230,457 $ 214,719 Service cost 21,734 20,878 159 151 Interest cost 26,112 35,756 6,029 7,837 Actuarial loss 90,140 89,092 15,218 23,635 Settlement (52,938) (21,445) — — Currency translation and other 1,822 2,956 254 589 Benefits paid (23,238) (53,237) (8,809) (16,474) Projected benefit obligation at end of year 1,168,838 1,105,206 243,308 230,457 Change in plan assets Fair value of plan assets at beginning of year 1,053,438 963,861 — — Actual return on plan assets 118,812 157,931 — — Employer contributions 2,862 3,660 8,809 16,474 Settlement (52,938) (21,445) — — Currency translation and other 1,309 2,668 — — Benefits paid (23,238) (53,237) (8,809) (16,474) Fair value of plan assets at end of year 1,100,245 1,053,438 — — Funded status at end of year $ (68,593) $ (51,768) $ (243,308) $ (230,457) Amounts recognized in the Consolidated Balance Sheets: Other assets $ 8,308 $ 10,481 $ — $ — Accrued liabilities (6,174) (3,476) (19,801) (19,251) Other long-term liabilities (70,727) (58,773) (223,507) (211,206) Total $ (68,593) $ (51,768) $ (243,308) $ (230,457) Amounts recognized in Accumulated Other Comprehensive Income (Loss), net of tax: Actuarial net (loss) gain $ (205,193) $ (216,443) $ (10,718) $ 444 Net prior service credit (cost) 21,706 27,031 — (219) Net amounts recognized in AOCI $ (183,487) $ (189,412) $ (10,718) $ 225
Schedule of Accumulated Benefit Obligations in Excess of Plan Assets	Plans with accumulated benefit obligations in excess of plan assets were as follows: December 31, 2020 2019 Projected benefit obligation $ 759,200 $ 709,651 Accumulated benefit obligation 718,335 674,017 Fair value of plan assets 682,299 647,402
Schedule of Components of Net Periodic Benefit Cost	The components of net periodic benefit cost were as follows: Pension Benefits Other Benefits For the years ended December 31, 2020 2019 2018 2020 2019 2018 Amounts recognized in net periodic benefit cost Service cost $ 21,734 $ 20,878 $ 21,223 $ 159 $ 151 $ 230 Interest cost 26,112 35,756 31,943 6,029 7,837 6,923 Expected return on plan assets (52,907) (54,520) (58,612) — — — Amortization of prior service (credit) cost (7,308) (7,230) (7,202) 300 811 836 Amortization of net loss (gain) 26,952 32,647 26,875 (39) (385) — Curtailment credit — — (299) — — — Settlement loss 13,421 5,498 20,211 — — — Total net periodic benefit cost $ 28,004 $ 33,029 $ 34,139 $ 6,449 $ 8,414 $ 7,989 Change in plan assets and benefit obligations recognized in AOCI, pre-tax Actuarial net (gain) loss $ (15,606) $ (52,028) $ 3,715 $ 15,266 $ 23,956 $ (10,771) Prior service cost (credit) 7,310 7,232 7,198 (300) (810) (838) Total recognized in other comprehensive (income) loss, pre-tax $ (8,296) $ (44,796) $ 10,913 $ 14,966 $ 23,146 $ (11,609) Net amounts recognized in periodic benefit cost and AOCI $ 19,708 $ (11,767) $ 45,052 $ 21,415 $ 31,560 $ (3,620)
Schedule of Weighted-Average Assumptions Used in Computing the Benefit Obligation	The weighted-average assumptions used in computing the year end benefit obligations were as follows: Pension Benefits Other Benefits December 31, 2020 2019 2020 2019 Discount rate 2.3 % 3.1 % 2.5 % 3.2 % Rate of increase in compensation levels 3.5 % 3.6 % N/A N/A Interest crediting rate 4.7 % 4.7 % N/A N/A The weighted-average assumptions used in computing net periodic benefit cost were as follows: Pension Benefits Other Benefits For the years ended December 31, 2020 2019 2018 2020 2019 2018 Discount rate 3.1 % 4.1 % 3.4 % 3.2 % 4.2 % 3.5 % Expected long-term return on plan assets 5.3 % 5.9 % 5.8 % N/A N/A N/A Rate of compensation increase 3.6 % 3.6 % 3.8 % N/A N/A N/A
Schedule of Allocation of Plan Assets	Our target asset allocation for our major domestic pension plans as of December 31, 2020 was as follows: Asset Class Target Asset Allocation Cash 1% Equity securities 24% Fixed income securities 51% Alternative investments, including real estate, listed infrastructure and other 24% The following table sets forth by level, within the fair value hierarchy (as defined in Note 6 ), pension plan assets at their fair values as of December 31, 2020: Quoted prices in active Significant other observable inputs Significant other unobservable inputs Investments Using NAV as a Practical Expedient Cash and cash equivalents $ 613 $ 21,287 $ — $ 576 $ 22,476 Equity securities: Global all-cap (a) — — — 264,909 264,909 Fixed income securities: U.S. government/agency — — — 215,573 215,573 Corporate bonds (b) — — — 155,648 155,648 International government/corporate bonds (c) — — — 32,586 32,586 Diversified credit (d) — — — 160,829 160,829 Alternative investments: Global diversified assets (e) — — — 117,290 117,290 Global real estate investment trusts (f) — — — 60,083 60,083 Global infrastructure (g) — — — 70,851 70,851 Total pension plan assets $ 613 $ 21,287 $ — $ 1,078,345 $ 1,100,245 The following table sets forth by level, within the fair value hierarchy, pension plan assets at their fair values as of December 31, 2019: Quoted prices in active Significant other observable inputs Significant other unobservable inputs Investments Using NAV as a Practical Expedient Total Cash and cash equivalents $ 365 $ 13,194 $ — $ 629 $ 14,188 Equity securities: Global all-cap (a) — — — 248,222 248,222 Fixed income securities: U.S. government/agency — — — 264,066 264,066 Corporate bonds (b) — — — 136,896 136,896 International government/corporate bonds (c) — — — 32,407 32,407 Diversified credit (d) — — — 103,793 103,793 Alternative investments: Global diversified assets (e) — — — 146,681 146,681 Global real estate investment trusts (f) — — — 53,159 53,159 Global infrastructure (g) — — — 54,026 54,026 Total pension plan assets $ 365 $ 13,194 $ — $ 1,039,879 $ 1,053,438 (1) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy but are included to reconcile to the amounts presented in our Obligations and Funded Status table. (a) This category comprises equity funds that primarily track the MSCI World Index or MSCI All Country World Index. (b) This category comprises fixed income funds primarily invested in investment grade and high yield bonds. (c) This category comprises fixed income funds primarily invested in Canadian and other international bonds. (d) This category comprises fixed income funds primarily invested in high yield bonds, loans, securitized debt, and emerging market debt. (e) This category comprises diversified funds invested across alternative asset classes. (f) This category comprises equity funds primarily invested in publicly traded real estate securities. (g) This category comprises equity funds primarily invested in publicly traded listed infrastructure securities.
Schedule of Expected Benefit Payments	Total benefit payments expected to be paid to plan participants, including pension benefits funded from the plans and other benefits funded from Company assets, are as follows: Expected Benefit Payments 2021 2022 2023 2024 2025 2026-2030 Pension Benefits $ 116,050 $ 101,245 $ 98,348 $ 94,155 $ 90,546 $ 369,540 Other Benefits 19,769 18,174 17,167 16,244 15,227 64,235

STOCK COMPENSATION PLANS (Table

STOCK COMPENSATION PLANS (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [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: For the years ended December 31, 2020 2019 2018 Pre-tax compensation expense $ 57,584 $ 51,899 $ 49,286 Related income tax benefit 8,580 9,030 9,463
Schedule of Activity Relating to the Grants of Stock Options	A summary of activity relating to grants of stock options for the year ended December 31, 2020 is as follows: Stock Options Shares Weighted-Average Weighted-Average Remaining Aggregate Intrinsic Value Outstanding at beginning of the period 2,420,461 $97.80 5.7 years Granted 15,260 $157.32 Exercised (553,131) $92.70 Forfeited (42,779) $102.44 Outstanding as of December 31, 2020 1,839,811 $99.72 4.9 years $ 96,873 Options exercisable as of December 31, 2020 1,406,063 $98.29 4.2 years $ 75,977
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: For the years ended December 31, 2020 2019 2018 Dividend yields 2.1 % 2.7 % 2.4 % Expected volatility 17.5 % 17.0 % 16.6 % Risk-free interest rates 1.3 % 2.5 % 2.8 % Expected term in years 6.7 6.5 6.6 • "Dividend yields" means the sum of dividends declared for the four most recent quarterly periods, divided by the average price of our Common Stock for the comparable periods; • "Expected volatility" means the historical volatility of our Common Stock over the expected term of each grant; • "Risk-free interest rates" means the U.S. Treasury yield curve rate in effect at the time of grant for periods within the contractual life of the stock option; and • "Expected term" means the period of time that stock options granted are expected to be outstanding based on historical data.
Schedule of Outstanding Stock Options	The following table summarizes information about stock options outstanding as of December 31, 2020: Options Outstanding Options Exercisable Range of Exercise Prices Number Weighted- Weighted- Number Weighted- $34.89 - $96.65 451,518 3.5 $83.35 447,523 $83.24 $96.66 - $105.91 699,982 6.1 $101.70 409,235 $102.90 $105.92 - $157.32 688,311 4.5 $108.44 549,305 $107.13 $34.89 - $157.32 1,839,811 4.9 $99.72 1,406,063 $98.29
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 December 31, 2020 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 1,089,916 $112.52 Granted 353,037 $161.30 Performance assumption change (1) 128,431 $140.39 Vested (378,913) $109.99 Forfeited (139,139) $124.74 Outstanding at end of year 1,053,332 $135.11 (1) Reflects the net number of PSUs above and below target levels based on the performance metrics.
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. For the years ended December 31, 2020 2019 2018 Units granted 353,037 493,828 457,315 Weighted-average fair value at date of grant $ 161.30 $ 115.94 $ 97.86 Monte Carlo simulation assumptions: Estimated values $ 80.08 $ 48.40 $ 29.17 Dividend yields 2.0 % 2.6 % 2.6 % Expected volatility 17.3 % 20.3 % 20.4 % • "Estimated values" means the fair value for the market-based total shareholder return component of each PSU at the date of grant using a Monte Carlo simulation model; • "Dividend yields" means the sum of dividends declared for the four most recently quarterly periods, divided by the average price of our Common Stock for the comparable periods; • "Expected volatility" means the historical volatility of our Common Stock over the expected term of each grant.

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Schedule of Net Sales and Earnings by Segment	Our segment net sales and earnings were as follows: For the years ended December 31, 2020 2019 2018 Net sales: North America $ 7,416,697 $ 7,081,764 $ 6,901,607 International and Other 733,022 904,488 889,462 Total $ 8,149,719 $ 7,986,252 $ 7,791,069 Segment income: North America $ 2,321,823 $ 2,125,861 $ 2,020,082 International and Other 28,592 95,702 73,762 Total segment income 2,350,415 2,221,563 2,093,844 Unallocated corporate expense (1) 520,632 532,539 528,887 Unallocated mark-to-market losses (gains) on commodity derivatives 6,429 (28,651) (168,263) Long-lived and intangible asset impairment charges (see Note 6 ) 9,143 112,485 57,729 Costs associated with business realignment activities (see Note 9 ) 31,513 9,238 51,827 Operating profit 1,782,698 1,595,952 1,623,664 Interest expense, net (see Note 4 ) 149,374 144,125 138,837 Other (income) expense, net (see Note 17 ) 138,327 71,043 74,766 Income before income taxes $ 1,494,997 $ 1,380,784 $ 1,410,061 (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, (d) acquisition-related costs, and (e) other gains or losses that are not integral to segment performance.
Schedule of Unallocated Mark-to-Market Losses (Gains) on Commodity Derivatives	Activity within the unallocated mark-to-market losses (gains) on commodity derivatives is as follows: For the years ended December 31, 2020 2019 2018 Net gains on mark-to-market valuation of commodity derivative positions recognized in income $ (6,593) $ (35,488) $ (69,379) Net gains (losses) on commodity derivative positions reclassified from unallocated to segment income 13,022 6,837 (98,884) Net losses (gains) on mark-to-market valuation of commodity derivative positions recognized in unallocated derivative losses (gains) $ 6,429 $ (28,651) $ (168,263)
Schedule of Depreciation and Amortization Expense Included within Segment Income	Depreciation and amortization expense included within segment income presented above is as follows: For the years ended December 31, 2020 2019 2018 North America $ 222,153 $ 220,513 $ 205,340 International and Other 28,693 29,289 35,656 Corporate (1) 44,061 41,742 54,148 Total $ 294,907 $ 291,544 $ 295,144 (1) Corporate includes non-cash asset-related accelerated depreciation and amortization related to business realignment activities, as discussed in Note 9
Schedule of Segment Information by Geography	Additional information regarding our net sales and long-lived assets disaggregated by geographical region is as follows: For the years ended December 31, 2020 2019 2018 Net sales: United States $ 7,042,804 $ 6,722,617 $ 6,535,675 Other 1,106,915 1,263,635 1,255,394 Total $ 8,149,719 $ 7,986,252 $ 7,791,069 Long-lived assets: United States $ 1,836,114 $ 1,717,606 $ 1,668,186 Other 449,141 435,533 462,108 Total $ 2,285,255 $ 2,153,139 $ 2,130,294
Schedule of Revenue from External Customers by Products and Services	: For the year ended December 31, 2020 2019 2018 Net sales: Confectionery and confectionery-based portfolio $ 7,628,926 $ 7,553,954 $ 7,453,364 Snacks portfolio 520,793 432,298 337,705 Total $ 8,149,719 $ 7,986,252 $ 7,791,069

EQUITY AND NONCONTROLLING INT_2

EQUITY AND NONCONTROLLING INTEREST (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Schedule of the Changes in the Outstanding Shares of Common Stock	Changes in the outstanding shares of Common Stock for the past three years were as follows: For the years ended December 31, 2020 2019 2018 Shares issued 221,553,025 359,901,744 359,901,744 Treasury shares at beginning of year (12,723,592) (150,172,840) (149,040,927) Stock repurchases: Shares repurchased in the open market under pre-approved share repurchase programs (951,138) (1,386,193) (1,406,093) Shares repurchased directly from the Milton Hershey School Trust — — (450,000) Shares repurchased to replace Treasury Stock issued for stock options and incentive compensation (450,000) (2,674,349) (615,719) Stock issuances: Shares issued for stock options and incentive compensation 798,832 3,161,071 1,339,899 Retirement of treasury shares — 138,348,719 — Treasury shares at end of year (13,325,898) (12,723,592) (150,172,840) Change in Common Stock due to retirement of treasury shares — (138,348,719) — Net shares outstanding at end of year 208,227,127 208,829,433 209,728,904
Schedule of Activity Relating to the Noncontrolling Interest	A roll-forward showing the 2020 activity relating to the noncontrolling interest follows: Noncontrolling Interest Balance, December 31, 2019 $ 5,772 Net loss attributable to noncontrolling interest (3,295) Other comprehensive income - foreign currency translation adjustments 1,054 Balance, December 31, 2020 $ 3,531

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Purchase Obligations Covered by Purchase Agreements with Various Suppliers Future Maturity Schedule	As of December 31, 2020, we had entered into agreements for the purchase of raw materials with various suppliers. Subject to meeting our quality standards, the purchase obligations covered by these agreements were as follows as of December 31, 2020: in millions 2021 2022 2023 2024 2025 Purchase obligations $ 1,548.9 $ 309.7 $ 21.8 $ 1.5 $ 1.5

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2020
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: For the years ended December 31, 2020 2019 2018 Common Stock Class B Common Stock Common Stock Class B Common Stock Common Stock Class B Common Stock Basic earnings per share: Numerator: Allocation of distributed earnings (cash dividends paid) $ 467,013 $ 173,719 $ 445,685 $ 164,627 $ 410,732 $ 151,789 Allocation of undistributed earnings 464,802 173,174 393,731 145,649 449,372 165,669 Total earnings—basic $ 931,815 $ 346,893 $ 839,416 $ 310,276 $ 860,104 $ 317,458 Denominator (shares in thousands): Total weighted-average shares—basic 147,832 60,614 148,841 60,614 149,379 60,614 Earnings Per Share—basic $ 6.30 $ 5.72 $ 5.64 $ 5.12 $ 5.76 $ 5.24 Diluted earnings per share: Numerator: Allocation of total earnings used in basic computation $ 931,815 $ 346,893 $ 839,416 $ 310,276 $ 860,104 $ 317,458 Reallocation of total earnings as a result of conversion of Class B common stock to Common stock 346,893 — 310,276 — 317,458 — Reallocation of undistributed earnings — (822) — (886) — (803) Total earnings—diluted $ 1,278,708 $ 346,071 $ 1,149,692 $ 309,390 $ 1,177,562 $ 316,655 Denominator (shares in thousands): Number of shares used in basic computation 147,832 60,614 148,841 60,614 149,379 60,614 Weighted-average effect of dilutive securities: Conversion of Class B common stock to Common shares outstanding 60,614 — 60,614 — 60,614 — Employee stock options 600 — 785 — 651 — Performance and restricted stock units 368 — 462 — 345 — Total weighted-average shares—diluted 209,414 60,614 210,702 60,614 210,989 60,614 Earnings Per Share—diluted $ 6.11 $ 5.71 $ 5.46 $ 5.10 $ 5.58 $ 5.22

OTHER (INCOME) EXPENSE, NET O_2

OTHER (INCOME) EXPENSE, NET OTHER (INCOME) EXPENSE, NET (Tables)	12 Months Ended
	Dec. 31, 2020
Other Income and Expenses [Abstract]
Schedule of Other (Income) Expense, Net	A summary of the components of other (income) expense, net is as follows: For the years ended December 31, 2020 2019 2018 Write-down of equity investments in partnerships qualifying for historic and solar tax credits (see N ote 10 ) $ 125,579 $ 50,457 $ 50,329 Non-service cost components of net periodic benefit cost relating to pension and other post-retirement benefit plans (see Note 11 ) 12,560 20,415 20,672 Other (income) expense, net 188 171 3,765 Total $ 138,327 $ 71,043 $ 74,766

SUPPLEMENTAL BALANCE SHEET IN_2

SUPPLEMENTAL BALANCE SHEET INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Supplemental Balance Sheet Information	Supplemental balance sheet information related to leases were as follows: Leases Classification 2020 2019 Assets Operating lease ROU assets Other non-current assets $ 224,268 $ 220,678 Finance lease ROU assets, at cost Property, plant and equipment, gross 101,426 101,142 Accumulated amortization Accumulated depreciation (13,361) (7,225) Finance lease ROU assets, net Property, plant and equipment, net 88,065 93,917 Total leased assets $ 312,333 $ 314,595 Liabilities Current Operating Accrued liabilities $ 36,578 $ 29,209 Finance Current portion of long-term debt 4,868 4,079 Non-current Operating Other long-term liabilities 181,871 184,163 Finance Long-term debt 75,887 75,564 Total lease liabilities $ 299,204 $ 293,015 The components of certain Consolidated Balance Sheet accounts are as follows: December 31, 2020 2019 Inventories: Raw materials $ 388,600 $ 271,125 Goods in process 104,841 98,842 Finished goods 645,664 614,698 Inventories at FIFO 1,139,105 984,665 Adjustment to LIFO (174,898) (169,414) Total inventories $ 964,207 $ 815,251 Prepaid expenses and other: Prepaid expenses $ 95,669 $ 84,058 Other current assets 158,809 156,022 Total prepaid expenses and other $ 254,478 $ 240,080 Property, plant and equipment: Land $ 131,513 $ 105,627 Buildings 1,387,106 1,298,985 Machinery and equipment 3,169,754 3,120,003 Construction in progress 276,514 209,788 Property, plant and equipment, gross 4,964,887 4,734,403 Accumulated depreciation (2,679,632) (2,581,264) Property, plant and equipment, net $ 2,285,255 $ 2,153,139 Other non-current assets: Capitalized software, net $ 187,673 $ 153,842 Operating lease ROU assets 224,268 220,678 Other non-current assets 143,946 137,480 Total other non-current assets $ 555,887 $ 512,000 Accrued liabilities: Payroll, compensation and benefits $ 237,342 $ 230,518 Advertising, promotion and product allowances 309,537 279,440 Operating lease liabilities 36,578 29,209 Other 198,309 163,205 Total accrued liabilities $ 781,766 $ 702,372 Other long-term liabilities: Post-retirement benefits liabilities $ 223,507 $ 211,206 Pension benefits liabilities 70,727 58,773 Operating lease liabilities 181,871 184,163 Other 207,329 201,635 Total other long-term liabilities $ 683,434 $ 655,777 Accumulated other comprehensive loss: Foreign currency translation adjustments $ (98,525) $ (83,704) Pension and post-retirement benefit plans, net of tax (194,205) (189,187) Cash flow hedges, net of tax (45,352) (51,075) Total accumulated other comprehensive loss $ (338,082) $ (323,966)

QUARTERLY DATA (Tables)

QUARTERLY DATA (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Summary quarterly results were as follows: Year 2020 First Second Third Fourth Net sales $ 2,037,317 $ 1,707,329 $ 2,219,829 $ 2,185,244 Gross profit 866,622 792,552 1,080,024 962,071 Net income attributable to The Hershey Company 271,137 268,901 447,283 291,387 Common stock: Net income per share—Basic (a) 1.33 1.33 2.21 1.44 Net income per share—Diluted (a) 1.29 1.29 2.14 1.39 Dividends paid per share 0.773 0.773 0.804 0.804 Class B common stock: Net income per share—Basic (a) 1.21 1.21 2.00 1.31 Net income per share—Diluted (a) 1.21 1.20 2.00 1.30 Dividends paid per share 0.702 0.702 0.731 0.731 Market price—common stock: High 160.95 146.46 149.59 155.12 Low 111.43 125.85 126.75 137.46 Year 2019 First Second Third Fourth Net sales $ 2,016,488 $ 1,767,217 $ 2,134,422 $ 2,068,125 Gross profit 892,504 874,744 943,318 911,912 Net income attributable to The Hershey Company 304,358 312,840 325,307 207,187 Common stock: Net income per share—Basic (a) 1.49 1.54 1.59 1.02 Net income per share—Diluted (a) 1.45 1.48 1.54 0.98 Dividends paid per share 0.722 0.722 0.773 0.773 Class B common stock: Net income per share—Basic (a) 1.36 1.39 1.45 0.93 Net income per share—Diluted (a) 1.36 1.38 1.44 0.92 Dividends paid per share 0.656 0.656 0.702 0.702 Market price—common stock: High 114.83 138.32 161.40 157.70 Low 104.30 113.84 134.25 140.29 (a) Quarterly income per share amounts do not total to the annual amount due to changes in weighted-average shares outstanding during the year.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Details)	12 Months Ended
	Dec. 31, 2020countrybrand_namesegment
Accounting Policies [Abstract]
Number of brand names | brand_name	90
Number of countries in which products are marketed, sold and distributed (country) | country	85
Number of reportable segments (segment) | segment	2

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - REVENUE RECOGNITION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Promotional Costs, Estimate Deviation, Percentage (Less Than)	2.00%	2.00%	2.00%
Unsettled Accrued Liabilities	$ 195,563	$ 180,959
Revenue from Contract with Customer Benchmark | Customer Concentration Risk | McLane Company, Inc.
Concentration Risk, Percentage	31.00%	30.00%	28.00%

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - SELLING, MARKETING AND ADMINISTRATIVE EXPENSE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Research and development costs	$ 37,577	$ 37,146	$ 38,521
Advertising expense	516,936	513,302	$ 479,908
Prepaid advertising expense	$ 705	$ 242

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - ACCOUNTS RECEIVABLE - TRADE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenue, Major Customer [Line Items]
Allowance for doubtful accounts	$ 24,975	$ 24,966
McLane Company, Inc. | Customer Concentration Risk | Accounts Receivable
Revenue, Major Customer [Line Items]
Concentration Risk, Percentage	24.00%

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - INVENTORIES (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Percentage of LIFO inventory	63.00%
LIFO inventory amount	$ 606,282	$ 501,459

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Finance Lease, Right-of-Use Asset	$ 88,065	$ 93,917
Depreciation	$ 219,021	$ 218,096	$ 231,012
Machinery and Equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Machinery and Equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	15 years
Building and Building Improvements | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	25 years
Building and Building Improvements | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	40 years

SUMMARY OF SIGNIFICANT ACCOUN_9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - COMPUTER SOFTWARE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Capitalized Software [Line Items]
Capitalized software, net	$ 187,673	$ 153,842
Computer Software
Capitalized Software [Line Items]
Capitalized software, net	187,673	153,842
Capitalized computer software, accumulated amortization	$ 360,579	$ 338,449
Computer Software | Minimum
Capitalized Software [Line Items]
Property, plant and equipment, useful life	3 years
Computer Software | Maximum
Capitalized Software [Line Items]
Property, plant and equipment, useful life	7 years

BUSINESS ACQUISITIONS - ONE BRA

BUSINESS ACQUISITIONS - ONE BRANDS, LLC NARRATIVE (Details) - ONE Brands, LLC - USD ($) $ in Thousands	Sep. 23, 2019	Mar. 29, 2020
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	$ 402,160
Finite-Lived Trademarks, Gross		$ 144,900
Finite-Lived Customer Relationships, Gross		58,800
Finite-Lived Noncompete Agreements, Gross		$ 3,100
Trademarks
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life	33 years
Noncompete Agreements
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life	4 years
Minimum | Customer Relationships
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life	17 years
Maximum | Customer Relationships
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life	19 years

BUSINESS ACQUISITIONS - ONE B_2

BUSINESS ACQUISITIONS - ONE BRANDS, LLC ASSETS ACQUIRED AND LIABILITIES ASSUMED ALLOCATION (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 29, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill	$ 1,988,215		$ 1,985,955	$ 1,801,103
ONE Brands, LLC
Business Acquisition [Line Items]
Goodwill		$ 180,065
Other intangible assets		206,800
Other current assets		25,435
Other current liabilities		(10,140)
Net assets acquired		$ 402,160

BUSINESS ACQUISITIONS - PIRATE

BUSINESS ACQUISITIONS - PIRATE BRANDS NARRATIVE (Details) - Pirate Brands - USD ($) $ in Thousands	Oct. 17, 2018	Dec. 31, 2018
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	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill	$ 1,988,215	$ 1,985,955	$ 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	Dec. 31, 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	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill	$ 1,988,215	$ 1,985,955	$ 1,801,103
Amplify Snack Brands, Inc.
Business Acquisition [Line Items]
Cash			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)
Other long-term 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) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Line Items]
Goodwill, gross			$ 2,163,451
Accumulated impairment loss			(362,348)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 1,988,215	$ 1,985,955	1,801,103
Acquired during the period		178,179
Goodwill, Purchase Accounting Adjustments	825	1,061
Foreign Currency Translation	1,435	5,612
Goodwill, ending balance	1,988,215	1,985,955
Operating Segments | North America
Goodwill [Line Items]
Goodwill, gross			1,787,818
Accumulated impairment loss			(4,973)
Goodwill [Roll Forward]
Goodwill, beginning balance	1,970,445	1,967,466	1,782,845
Acquired during the period		178,179
Goodwill, Purchase Accounting Adjustments	825	1,061
Foreign Currency Translation	2,154	5,381
Goodwill, ending balance	1,970,445	1,967,466
Operating Segments | International and Other
Goodwill [Line Items]
Goodwill, gross			375,633
Accumulated impairment loss			(357,375)
Goodwill [Roll Forward]
Goodwill, beginning balance	17,770	18,489	$ 18,258
Acquired during the period		0
Goodwill, Purchase Accounting Adjustments	0	0
Foreign Currency Translation	(719)	231
Goodwill, ending balance	$ 17,770	$ 18,489

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - GOODWILL AND INTANGIBLE ASSETS NARRATIVE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Goodwill, Impairment Loss	$ 0	$ 0	$ 0
Long-lived and intangible asset impairment charges	9,143	112,485	57,729
Amortization of Intangible Assets	$ 46,472	46,690	$ 38,555
KRAVE Pure Foods, Inc. [Member]
Finite-Lived Intangible Assets [Line Items]
Long-lived and intangible asset impairment charges		$ 100,131

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - SCHEDULE OF GROSS CARRYING AMOUNT AND ACCUMULATED AMORTIZATION FOR EACH MAJOR CLASS OF INTANGIBLE ASSET (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 1,423,743	$ 1,436,632
Finite-lived intangible assets, accumulated amortization	(163,097)	(130,331)
Total other intangible assets	1,295,214	1,341,166
Trademarks
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets, excluding goodwill	34,568	34,865
Trademarks
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	1,211,086	1,212,172
Finite-lived intangible assets, accumulated amortization	(104,939)	(73,262)
Customer-related
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	204,101	207,749
Finite-lived intangible assets, accumulated amortization	(49,616)	(40,544)
Patents
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	8,556	16,711
Finite-lived intangible assets, accumulated amortization	$ (8,542)	$ (16,525)

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS - SCHEDULE OF AMORTIZATION EXPENSE, FOR THE NEXT FIVE YEARS (Details) $ in Thousands	Dec. 31, 2020USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 46,329
2022	46,315
2023	46,121
2024	45,540
2025	$ 45,540

SHORT AND LONG-TERM DEBT - SHOR

SHORT AND LONG-TERM DEBT - SHORT-TERM DEBT NARRATIVE (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Line of Credit Facility [Line Items]
Short-term debt	$ 74,041,000	$ 32,282,000
Maximum amount of short term borrowing outstanding	$ 944,944,000	$ 1,275,430,000
Short-term debt, weighted average interest rate	1.20%	2.40%
Commercial Paper
Line of Credit Facility [Line Items]
Short-term debt	$ 0	$ 0
Revolving Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Debt instrument, covenant, pre-tax income from operations to consolidated interest expense, minimum	200.00%
Revolving Credit Facility | Foreign Line of Credit
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 266,935,000	390,299,000
Short-term foreign bank loans against the lines of credit	74,041,000	$ 32,282,000
Line of Credit | Revolving Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	1,500,000,000
Line Of Credit Facility, Accordion Feature Increase Limit	$ 500,000,000

SHORT AND LONG-TERM DEBT - SCHE

SHORT AND LONG-TERM DEBT - SCHEDULE OF LONG-TERM DEBT INSTRUMENTS (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended
	Dec. 31, 2020	May 24, 2020	Jun. 28, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total long-term debt	$ 4,528,584			$ 4,234,203
Total finance lease liabilities	80,755			79,643
Net impact of interest rate swaps, debt issuance costs and unamortized debt discounts	(30,525)			(23,794)
Less—current portion	438,829			703,390
Long-term portion	4,089,755			3,530,813
Proceeds from Issuance of Other Long-term Debt			$ 989,876	990,337
Corporate Debt Securities | 2.900% Notes (1)
Debt Instrument [Line Items]
Total long-term debt	$ 0			$ 350,000
Interest rate, stated percentage	2.90%			2.90%
Repayments of Debt		$ 350,000
Corporate Debt Securities | 4.125% Notes (1)
Debt Instrument [Line Items]
Total long-term debt	$ 0			$ 350,000
Interest rate, stated percentage	4.125%			4.125%
Repayments of Debt	$ 350,000
Corporate Debt Securities | 8.800% Debentures
Debt Instrument [Line Items]
Total long-term debt	$ 84,715			$ 84,715
Interest rate, stated percentage	8.80%			8.80%
Corporate Debt Securities | 3.100% Notes
Debt Instrument [Line Items]
Total long-term debt	$ 350,000			$ 350,000
Interest rate, stated percentage	3.10%			3.10%
Corporate Debt Securities | 2.625% Notes
Debt Instrument [Line Items]
Total long-term debt	$ 250,000			$ 250,000
Interest rate, stated percentage	2.625%			2.625%
Corporate Debt Securities | 3.375% Notes
Debt Instrument [Line Items]
Total long-term debt	$ 500,000			$ 500,000
Interest rate, stated percentage	3.375%			3.375%
Corporate Debt Securities | 2.050% Notes (3)
Debt Instrument [Line Items]
Total long-term debt	$ 300,000			$ 300,000
Interest rate, stated percentage	2.05%			2.05%
Corporate Debt Securities | 0.900% Notes (2)
Debt Instrument [Line Items]
Total long-term debt	$ 300,000			$ 0
Interest rate, stated percentage	0.90%			0.90%
Corporate Debt Securities | 3.200% Notes
Debt Instrument [Line Items]
Total long-term debt	$ 300,000			$ 300,000
Interest rate, stated percentage	3.20%			3.20%
Corporate Debt Securities | 2.300% Notes
Debt Instrument [Line Items]
Total long-term debt	$ 500,000			$ 500,000
Interest rate, stated percentage	2.30%			2.30%
Corporate Debt Securities | 7.200% Debentures
Debt Instrument [Line Items]
Total long-term debt	$ 193,639			$ 193,639
Interest rate, stated percentage	7.20%			7.20%
Corporate Debt Securities | 2.450% Notes (3)
Debt Instrument [Line Items]
Total long-term debt	$ 300,000			$ 300,000
Interest rate, stated percentage	2.45%			2.45%
Corporate Debt Securities | 1.700% Notes (2)
Debt Instrument [Line Items]
Total long-term debt	$ 350,000			$ 0
Interest rate, stated percentage	1.70%			1.70%
Corporate Debt Securities | 3.375% Notes
Debt Instrument [Line Items]
Total long-term debt	$ 300,000			$ 300,000
Interest rate, stated percentage	3.375%			3.375%
Corporate Debt Securities | 3.125% Notes (3)
Debt Instrument [Line Items]
Total long-term debt	$ 400,000			$ 400,000
Interest rate, stated percentage	3.125%			3.125%
Corporate Debt Securities | 2.650% Notes (2)
Debt Instrument [Line Items]
Total long-term debt	$ 350,000			$ 0
Interest rate, stated percentage	2.65%			2.65%

SHORT AND LONG-TERM DEBT - SC_2

SHORT AND LONG-TERM DEBT - SCHEDULE OF MATURITIES OF LONG-TERM DEBT (Details) $ in Thousands	Dec. 31, 2020USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
2021	$ 434,715
2022	0
2023	750,000
2024	300,000
2025	600,000
Thereafter	$ 2,393,639

SHORT AND LONG-TERM DEBT - SC_3

SHORT AND LONG-TERM DEBT - SCHEDULE OF NET INTEREST EXPENSE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Interest expense	$ 160,204	$ 157,707	$ 151,950
Capitalized interest	6,733	5,585	5,092
Interest expense	153,471	152,122	146,858
Interest income	(4,097)	(7,997)	(8,021)
Interest expense, net	$ 149,374	$ 144,125	$ 138,837

DERIVATIVE INSTRUMENTS - NARRAT

DERIVATIVE INSTRUMENTS - NARRATIVE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Cash flow hedge gain (loss) to be reclassified within twelve months	$ 4,060
Commodities futures and options | Non-designated Hedges
Derivative [Line Items]
Derivative, notional amount	$ 279,843	$ 589,662
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	$ 130,131	65,826
Foreign exchange contracts | Non-designated Hedges
Derivative [Line Items]
Derivative, notional amount	2,519	50,831
Interest rate swap agreements | Designated as Hedging Instrument | Fair Value Hedging
Derivative [Line Items]
Derivative, notional amount	0	350,000
Deferred compensation derivatives
Derivative [Line Items]
Derivative, notional amount	$ 30,194	28,187
Deferred compensation derivatives | Non-designated Hedges | Minimum
Derivative [Line Items]
Derivative, term of contract	3 months
Deferred compensation derivatives | Non-designated Hedges | Maximum
Derivative [Line Items]
Derivative, term of contract	12 months
Interest rate swap | Designated as Hedging Instrument | Fair Value Hedging | Interest Expense
Derivative [Line Items]
Fair value hedges, pre-tax benefit (expense)	$ 3,186	$ (1,829)

DERIVATIVE INSTRUMENTS - SCHEDU

DERIVATIVE INSTRUMENTS - SCHEDULE OF THE CLASSIFICATION OF DERIVATIVE ASSETS AND LIABILITIES WITHIN THE CONSOLIDATED BALANCE SHEETS (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Derivative asset	$ 9,493	$ 14,923
Derivative liability	7,263	2,405
Designated as Hedging Instrument | Cash Flow Hedges | Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Derivative asset	2,388	1,235
Derivative liability	5,522	1,779
Designated as Hedging Instrument | Fair Value Hedging | Interest rate swap agreements
Derivatives, Fair Value [Line Items]
Derivative asset	0	555
Derivative liability	0	0
Non-designated Hedges
Derivatives, Fair Value [Line Items]
Derivative asset	7,105	13,133
Derivative liability	1,741	626
Non-designated Hedges | Commodities futures and options
Derivatives, Fair Value [Line Items]
Derivative asset	3,299	9,080
Derivative liability	1,648	626
Gross derivative assets, included within derivative liabilities	32,674	46,075
Derivative liability, gross liabilities	29,376	37,606
Non-designated Hedges | Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Derivative asset	176	1,496
Derivative liability	93	0
Non-designated Hedges | Deferred compensation derivatives
Derivatives, Fair Value [Line Items]
Derivative asset	3,630	2,557
Derivative liability	$ 0	$ 0

DERIVATIVE INSTRUMENTS - SCHE_2

DERIVATIVE INSTRUMENTS - SCHEDULE OF THE EFFECT OF DERIVATIVE INSTRUMENTS ON THE CONSOLIDATED STATEMENTS OF INCOME (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ 9,943	$ 42,636
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	(780)	(2,515)	$ 5,822
Commodities futures and options
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	6,593	35,488
Foreign exchange contracts
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(1,584)	410
Interest rate swap agreements
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	0	0
Deferred compensation derivatives
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	4,934	6,738
Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	(780)	(2,515)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	(7,779)	(8,404)
Designated as Hedging Instrument | Cash Flow Hedges | Commodities futures and options
Derivative [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	0	0
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	0	0
Designated as Hedging Instrument | Cash Flow Hedges | Foreign exchange contracts
Derivative [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	(780)	(2,515)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	1,810	939
Designated as Hedging Instrument | Cash Flow Hedges | Interest rate swap agreements
Derivative [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	0	0
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	(9,589)	(9,343)
Designated as Hedging Instrument | Cash Flow Hedges | Deferred compensation derivatives
Derivative [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	0	0
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	$ 0	$ 0

DERIVATIVE INSTRUMENTS - SCHE_3

DERIVATIVE INSTRUMENTS - SCHEDULE OF CUMULATIVE BASIS ADJUSTMENTS FOR INTEREST RATE SWAP DERIVATIVES (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Derivative asset	$ 9,493	$ 14,923
Designated as Hedging Instrument | Fair Value Hedging | Interest rate swap
Derivative [Line Items]
Derivative, Fair Value, Net	0	(349,445)
Derivative asset	$ 0	$ 555

FAIR VALUE MEASUREMENTS - FAIR

FAIR VALUE MEASUREMENTS - FAIR VALUE MEASUREMENTS NARRATIVE (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2020
Derivative [Line Items]
Impairment of Long-Lived Assets to be Disposed of	$ 57,729,000
Significant other unobservable inputs (Level 3)
Derivative [Line Items]
Fair Value, Net Asset (Liability)	$ 0	$ 0

FAIR VALUE MEASUREMENTS - SCHED

FAIR VALUE MEASUREMENTS - SCHEDULE OF ASSETS AND LIABILITIES MEASURED AT FAIR VALUE (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	$ 9,493	$ 14,923
Derivative liability	7,263	2,405
Fair Value, Measurements, Recurring | Foreign exchange contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	2,564	2,731
Derivative liability	5,615	1,779
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	2,564	2,731
Derivative liability	5,615	1,779
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 | Deferred compensation derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	3,630	2,557
Fair Value, Measurements, Recurring | Deferred compensation derivatives | Quoted prices in active markets of identical assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	0	0
Fair Value, Measurements, Recurring | Deferred compensation derivatives | Significant other observable inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	3,630	2,557
Fair Value, Measurements, Recurring | Deferred compensation derivatives | Significant other unobservable inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	0	0
Fair Value, Measurements, Recurring | Commodities futures and options
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	3,299	9,080
Derivative liability	1,648	626
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	3,299	9,080
Derivative liability	1,648	626
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, Recurring | Interest rate swap agreements
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset		555
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
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		555
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

FAIR VALUE MEASUREMENTS - SCH_2

FAIR VALUE MEASUREMENTS - SCHEDULE OF FAIR VALUES AND CARRYING VALUES OF LONG-TERM DEBT (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of long-term debt	$ 438,829	$ 703,390
Long-term portion	4,089,755	3,530,813
Total long-term debt, carrying value	4,528,584	4,234,203
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	443,215	712,863
Long-term debt, fair value	4,479,499	3,656,540
Total long-term debt, fair value	4,922,714	4,369,403
Current portion of long-term debt	438,829	703,390
Long-term portion	4,089,755	3,530,813
Total long-term debt, carrying value	$ 4,528,584	$ 4,234,203

FAIR VALUE MEASUREMENTS - SCH_3

FAIR VALUE MEASUREMENTS - SCHEDULE OF IMPAIRMENT CHARGES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charge on reclassified assets	$ 6,200	$ 2,725
Long-lived and intangible asset impairment charges	9,143	112,485	$ 57,729
Customer relationship and trademark
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived and intangible asset impairment charges		100,131
Other long-lived assets, not held for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived and intangible asset impairment charges		$ 9,629
Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived and intangible asset impairment charges	$ 2,943

LEASES - SCHEDULE OF COMPONENET

LEASES - SCHEDULE OF COMPONENETS OF LEASE EXPENSE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 44,547	$ 42,580
Amortization of ROU assets, Finance lease cost	8,202	7,821
Interest on lease liabilities, Finance lease cost	4,475	4,467
Net lease cost	$ 57,224	$ 54,868

LEASES - SCHEDULE OF INFORMATIO

LEASES - SCHEDULE OF INFORMATION REGARDING OUR LEASE TERMS AND DISCOUNT RATES (Details)	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating leases, Weighted-average remaining lease term	12 years 6 months	14 years 3 months 18 days
Finance leases, Weighted-average remaining lease term	30 years 1 month 6 days	31 years 4 months 24 days
Operating leases, Weighted-average remaining discount rate	3.80%	3.80%
Finance leases, Weighted-average remaining discount rate	5.90%	6.00%

LEASES - SUPPLEMENTAL BALANCE S

LEASES - SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Lease, Description [Line Items]
Operating lease ROU Assets	$ 224,268	$ 220,678
Finance lease ROU assets, net	88,065	93,917
Total leased assets	312,333	314,595
Operating lease liabilities, current	36,578	29,209
Finance lease liabilities, curent	4,868	4,079
Operating lease liabilities, non-current	181,871	184,163
Finance lease liabilities, non-current	75,887	75,564
Total leased liabilities	299,204	293,015
Property, plant and equipment, gross
Lease, Description [Line Items]
Finance lease ROU assets, net	101,426	101,142
Accumulated depreciation
Lease, Description [Line Items]
Finance lease ROU assets, net	13,361	7,225
Property, plant and equipment, net
Lease, Description [Line Items]
Finance lease ROU assets, net	$ 88,065	$ 93,917

LEASES - SCHEDULE OF MATURITIES

LEASES - SCHEDULE OF MATURITIES OF LEASE LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
2021	$ 52,457
2022	37,222
2023	24,602
2024	19,451
2025	17,858
Thereafter	321,491
Total lease payments	473,081
Less: Imputed interest	173,877
Total lease liabilities	299,204
Operating leases
2021	43,841
2022	30,135
2023	19,628
2024	14,778
2025	13,144
Thereafter	160,247
Total lease payments	281,773
Less: Imputed interest	63,324
Total operating lease liabilities	218,449
Finance leases
2021	8,616
2022	7,087
2023	4,974
2024	4,673
2025	4,714
Thereafter	161,244
Total lease payments	191,308
Less: Imputed interest	110,553
Total finance lease liabilities	$ 80,755	$ 79,643

LEASES - SCHEDULE OF SUPPLEMENT

LEASES - SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating cash flows from operating leases	$ 42,568	$ 39,910
Operating cash flows from finance leases	4,475	4,467
Financing cash flows from finance leases	4,468	4,018
Operating leases	38,464	27,890
Finance leases	$ 3,992	$ 7,943

ASSETS AND LIABILITIES HELD F_2

ASSETS AND LIABILITIES HELD FOR SALE (Details) - USD ($) $ in Thousands	Apr. 30, 2018	Dec. 31, 2019	Jul. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sales of property, plant and equipment and other long-lived assets				$ 1,107	$ 28,131	$ 49,759
Proceeds from sales of businesses, net of cash and cash equivalents divested				0	0	167,048
Long-lived asset and intangible asset impairment charges				9,143	$ 112,485	$ 57,729
Facility Closing | Operation Optimization Program
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sales of property, plant and equipment and other long-lived assets				27,468
Gain (loss) on disposition of property plant equipment				$ 6,562
Tyrrells and Shanghai Golden Monkey (SGM)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sales of businesses, net of cash and cash equivalents divested			$ 171,950
Long-lived asset and intangible asset impairment charges			$ 28,817
Licensing Agreements
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of intangible assets	$ 13,000
Gain on sale of other assets	$ 2,658
Selling, marketing and administrative
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sales of property, plant and equipment and other long-lived assets		$ 27,613
Gain (Loss) on Sale of Properties		$ 11,289

BUSINESS REALIGNMENT ACTIVITI_3

BUSINESS REALIGNMENT ACTIVITIES - SCHEDULE OF BUSINESS REALIGNMENT ACTIVITY (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Business realignment costs	$ 31,513	$ 9,238	$ 51,827
International Optimization Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	29,343
Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	2,170	9,238	55,449
Severance | International Optimization Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	18,977	0	0
Severance | Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	(653)	5,178	15,378
Other program costs | International Optimization Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	10,366	0	0
Other program costs | Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	2,823	4,060	30,940
Other program costs | Operation Optimization Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	0	0	2,940
Accelerated depreciation and amortization | Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	0	0	9,131
Facility Closing | Operation Optimization Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	0	0	(6,562)
Cost of Sales
Restructuring Cost and Reserve [Line Items]
Business realignment costs	2,209	0	11,323
Selling, marketing and administrative
Restructuring Cost and Reserve [Line Items]
Business realignment costs	10,801	1,126	21,401
Business realignment charges
Restructuring Cost and Reserve [Line Items]
Business realignment costs	$ 18,503	$ 8,112	$ 19,103

BUSINESS REALIGNMENT ACTIVITI_4

BUSINESS REALIGNMENT ACTIVITIES - SCHEDULE OF LIABILITY ACTIVITY FOR COSTS QUALIFYING AS EXIT AND DISPOSAL COSTS (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Restructuring Reserve [Roll Forward]
Liability balance at December 31, 2019	$ 9,118
2020 business realignment charges	29,319
Cash payments	(25,689)
Liability balance at December 31, 2020	$ 12,748

BUSINESS REALIGNMENT ACTIVITI_5

BUSINESS REALIGNMENT ACTIVITIES - BUSINESS REALIGNMENT ACTIVITIES NARRATIVE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Business realignment costs	$ 31,513	$ 9,238	$ 51,827
International Optimization Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	29,343
International Optimization Program | Other program costs
Restructuring Cost and Reserve [Line Items]
Business realignment costs	10,366	0	0
Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	2,170	9,238	55,449
Margin for Growth Program | Other program costs
Restructuring Cost and Reserve [Line Items]
Business realignment costs	2,823	4,060	30,940
Operation Optimization Program | Other program costs
Restructuring Cost and Reserve [Line Items]
Business realignment costs	0	0	2,940
Operation Optimization Program | Facility Closing
Restructuring Cost and Reserve [Line Items]
Business realignment costs	$ 0	$ 0	$ (6,562)
Business realignment charges | Geographic Concentration Risk | North America | Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Concentration Risk, Percentage	63.00%
Business realignment charges | Geographic Concentration Risk | International and Other | Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Concentration Risk, Percentage	37.00%
Minimum | International Optimization Program
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	$ 50,000
Restructuring and Related Cost, Expected Cost, Cash Portion	40,000
Maximum | International Optimization Program
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	75,000
Restructuring and Related Cost, Expected Cost, Cash Portion	$ 65,000

INCOME TAXES - SCHEDULE OF INCO

INCOME TAXES - SCHEDULE OF INCOME (LOSS) BEFORE TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Domestic	$ 1,405,254	$ 1,211,051	$ 1,195,645
Foreign	89,743	169,733	214,416
Income before income taxes	$ 1,494,997	$ 1,380,784	$ 1,410,061

INCOME TAXES - SCHEDULE OF COMP

INCOME TAXES - SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE (BENEFIT) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal	$ 117,348	$ 179,358	$ 151,107
State	46,198	38,232	38,243
Foreign	29,158	31,514	13,405
Current Income Tax Expense (Benefit), Total	192,704	249,104	202,755
Deferred:
Federal	24,486	14,958	35,035
State	3,746	1,865	7,572
Foreign	(1,352)	(31,895)	(6,352)
Deferred Income Tax Expense (Benefit), Total	26,880	(15,072)	36,255
Total provision for income taxes	$ 219,584	$ 234,032	$ 239,010

INCOME TAXES - INCOME TAXES NAR

INCOME TAXES - INCOME TAXES NARRATIVE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Contingency [Line Items]
Tax Cuts and Jobs Act of 2017, measurement period adjustment, income tax expense (benefit)			$ 19,500
Amount of unrecognized tax benefits that if recognized would affect the effective tax rate	$ 103,213	$ 102,671
Net tax expense (benefit) for interest and penalties	1,564	3,824	1,785
Accrued net interest and penalties	11,542	9,978
Expected reduction in the liability for unrecognized tax benefits within the next 12 months	6,803
Undistributed earnings of foreign subsidiaries	762,601
Investment tax credits and related tax depreciation benefits	146,021	58,798	60,111
Write-down of equity investments	125,579	50,457	50,329
Other Nonoperating Income (Expense) | Partnerships Qualifying For Tax Credits
Income Tax Contingency [Line Items]
Write-down of equity investments	$ 125,579	$ 50,457	$ 50,329

INCOME TAXES - SCHEDULE OF DEFE

INCOME TAXES - SCHEDULE OF DEFERRED TAX ASSET AND LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Post-retirement benefit obligations	$ 58,059	$ 56,384
Accrued expenses and other reserves	86,412	88,590
Stock-based compensation	18,831	19,304
Derivative instruments	15,550	16,864
Pension	8,203	3,952
Lease liabilities	64,192	64,988
Accrued trade promotion reserves	25,877	21,709
Net operating loss carryforwards	154,445	160,584
Capital loss carryforwards	15,401	26,022
Other	10,027	9,685
Gross deferred tax assets	456,997	468,082
Valuation allowance	(193,310)	(206,743)
Total deferred tax assets	263,687	261,339
Deferred tax liabilities:
Property, plant and equipment, net	180,633	161,449
Acquired intangibles	156,439	144,314
Lease ROU assets	46,778	48,419
Inventories	21,086	29,158
Other	58,410	46,984
Total deferred tax liabilities	463,346	430,324
Net deferred tax liabilities	(199,659)	(168,985)
Included in:
Non-current deferred tax assets, net	(29,369)	(31,033)
Non-current deferred tax liabilities, net	$ (229,028)	$ (200,018)

INCOME TAXES - SCHEDULE OF EFFE

INCOME TAXES - SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Federal statutory income tax rate	21.00%	21.00%	21.00%
State income taxes, net of Federal income tax benefits	2.70%	1.80%	2.70%
Business realignment and impairment charges	0.00%	0.00%	0.60%
Foreign rate differences	(0.50%)	(1.50%)	(2.00%)
Historic and solar tax credits	(7.70%)	(3.40%)	(3.50%)
U.S. tax reform	0.00%	0.00%	(1.40%)
Tax contingencies	0.10%	0.90%	0.50%
Stock compensation	(0.60%)	(1.30%)	(0.30%)
Valuation allowance release	0.00%	(1.50%)	0.00%
Other, net	(0.30%)	0.90%	(0.60%)
Effective income tax rate	14.70%	16.90%	17.00%

INCOME TAXES - SCHEDULE OF UNRE

INCOME TAXES - SCHEDULE OF UNRECOGNIZED TAX BENEFITS ROLL FORWARD (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 108,383	$ 97,530
Additions for tax positions taken during prior years	10,641	9,327
Reductions for tax positions taken during prior years	(2,496)	(2,080)
Additions for tax positions taken during the current year	3,354	10,472
Settlements	0	(1,151)
Expiration of statutes of limitations	(11,339)	(5,715)
Balance at end of year	$ 108,543	$ 108,383

PENSION AND OTHER POST-RETIRE_3

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS NARRATIVE (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)postretirement_plan	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2025
Defined Benefit Plan Disclosure [Line Items]
Number of Defined Benefit Other Post-retirement Plans and Defined Contribution Other Post-retirement Plans | postretirement_plan	2
Defined Benefit Plan, Accumulated Benefit Obligation	$ 1,123,102	$ 1,063,955
Defined Contribution Plan, Cost	52,793	47,651	$ 47,959
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)	$ (90,140)	$ (89,092)
Discount rate	2.30%	3.10%
Employer contributions	$ 2,862	$ 3,660
Defined Benefit Plans, Minimum Future Employer Contributions in Next Fiscal Year	1,611
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)	$ (15,218)	$ (23,635)
Discount rate	2.50%	3.20%
Defined Benefit Plan, Health Care Cost Trend Rate Assumed, Next Fiscal Year	6.10%	6.40%
Employer contributions	$ 8,809	$ 16,474
Other Benefits  | Scenario, Forecast
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate				5.00%

PENSION AND OTHER POST-RETIRE_4

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - SCHEDULE OF DEFINED BENEFIT OBLIGATIONS, PLAN ASSETS AND FUNDED STATUS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Amounts recognized in Accumulated Other Comprehensive Income (Loss), net of tax:
Net amounts recognized in AOCI	$ 194,205	$ 189,187
Pension Benefits
Change in benefit obligation
Projected benefit obligation at beginning of year	1,105,206	1,031,206
Service cost	21,734	20,878	$ 21,223
Interest cost	26,112	35,756	31,943
Actuarial loss	90,140	89,092
Settlement	(52,938)	(21,445)
Currency translation and other	1,822	2,956
Benefits paid	(23,238)	(53,237)
Projected benefit obligation at end of year	1,168,838	1,105,206	1,031,206
Change in plan assets
Fair value of plan assets at beginning of year	1,053,438	963,861
Actual return on plan assets	118,812	157,931
Employer contributions	2,862	3,660
Settlement	(52,938)	(21,445)
Currency translation and other	1,309	2,668
Benefits paid	(23,238)	(53,237)
Fair value of plan assets at end of year	1,100,245	1,053,438	963,861
Funded status at end of year	(68,593)	(51,768)
Amounts recognized in the Consolidated Balance Sheets:
Other assets	8,308	10,481
Accrued liabilities	(6,174)	(3,476)
Other long-term liabilities	(70,727)	(58,773)
Total	(68,593)	(51,768)
Amounts recognized in Accumulated Other Comprehensive Income (Loss), net of tax:
Actuarial net (loss) gain	(205,193)	(216,443)
Net prior service credit (cost)	21,706	27,031
Net amounts recognized in AOCI	(183,487)	(189,412)
Other Benefits
Change in benefit obligation
Projected benefit obligation at beginning of year	230,457	214,719
Service cost	159	151	230
Interest cost	6,029	7,837	6,923
Actuarial loss	15,218	23,635
Settlement	0	0
Currency translation and other	254	589
Benefits paid	(8,809)	(16,474)
Projected benefit obligation at end of year	243,308	230,457	214,719
Change in plan assets
Fair value of plan assets at beginning of year	0	0
Actual return on plan assets	0	0
Employer contributions	8,809	16,474
Settlement	0	0
Currency translation and other	0	0
Benefits paid	(8,809)	(16,474)
Fair value of plan assets at end of year	0	0	$ 0
Funded status at end of year	(243,308)	(230,457)
Amounts recognized in the Consolidated Balance Sheets:
Other assets	0	0
Accrued liabilities	(19,801)	(19,251)
Other long-term liabilities	(223,507)	(211,206)
Total	(243,308)	(230,457)
Amounts recognized in Accumulated Other Comprehensive Income (Loss), net of tax:
Actuarial net (loss) gain	(10,718)	444
Net prior service credit (cost)	0	(219)
Net amounts recognized in AOCI	$ (10,718)	$ 225

PENSION AND OTHER POST-RETIRE_5

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - SCHEDULE OF ACCUMULATED BENEFIT OBLIGATIONS IN EXCESS OF PLAN ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Projected benefit obligation	$ 759,200	$ 709,651
Accumulated benefit obligation	718,335	674,017
Fair value of plan assets	$ 682,299	$ 647,402

PENSION AND OTHER POST-RETIRE_6

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - SCHEDULE OF COMPONENTS OF NET PERIODIC BENEFIT COST (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Pension Benefits
Amounts recognized in net periodic benefit cost
Service cost	$ 21,734	$ 20,878	$ 21,223
Interest cost	26,112	35,756	31,943
Expected return on plan assets	(52,907)	(54,520)	(58,612)
Amortization of prior service (credit) cost	(7,308)	(7,230)	(7,202)
Amortization of net loss (gain)	26,952	32,647	26,875
Curtailment credit	0	0	(299)
Settlement loss	13,421	5,498	20,211
Total net periodic benefit cost	28,004	33,029	34,139
Change in plan assets and benefit obligations recognized in AOCI, pre-tax
Actuarial net (gain) loss	(15,606)	(52,028)	3,715
Prior service cost (credit)	7,310	7,232	7,198
Total recognized in other comprehensive (income) loss, pre-tax	(8,296)	(44,796)	10,913
Net amounts recognized in periodic benefit cost and AOCI	19,708	(11,767)	45,052
Other Benefits
Amounts recognized in net periodic benefit cost
Service cost	159	151	230
Interest cost	6,029	7,837	6,923
Expected return on plan assets	0	0	0
Amortization of prior service (credit) cost	300	811	836
Amortization of net loss (gain)	(39)	(385)	0
Curtailment credit	0	0	0
Settlement loss	0	0	0
Total net periodic benefit cost	6,449	8,414	7,989
Change in plan assets and benefit obligations recognized in AOCI, pre-tax
Actuarial net (gain) loss	15,266	23,956	(10,771)
Prior service cost (credit)	(300)	(810)	(838)
Total recognized in other comprehensive (income) loss, pre-tax	14,966	23,146	(11,609)
Net amounts recognized in periodic benefit cost and AOCI	$ 21,415	$ 31,560	$ (3,620)

PENSION AND OTHER POST-RETIRE_7

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - SCHEDULE OF WEIGHTED AVERAGE ASSUMPTIONS USED IN COMPUTING BENEFIT OBLIGATIONS (Details)	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Interest crediting rate	4.70%	4.70%
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.30%	3.10%
Rate of increase in compensation levels	3.50%	3.60%
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.50%	3.20%

PENSION AND OTHER POST-RETIRE_8

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - SCHEDULE OF WEIGHTED AVERAGE ASSUMPTIONS USED IN COMPUTING NET PERIODIC BENEFIT COST (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.10%	4.10%	3.40%
Expected long-term return on plan assets	5.30%	5.90%	5.80%
Rate of compensation increase	3.60%	3.60%	3.80%
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.20%	4.20%	3.50%

PENSION AND OTHER POST-RETIRE_9

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - SCHEDULE OF PLAN ASSETS ACROSS ASSET CLASSES (Details) - Domestic Plans	Dec. 31, 2020
Cash
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	1.00%
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	24.00%
Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	51.00%
Alternative investments, including real estate, listed infrastructure and other
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	24.00%

PENSION AND OTHER POST-RETIR_10

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - SCHEDULE OF PENSION PLAN ASSETS WITHIN THE FAIR VALUE HIERARCHY (Details) - Pension Benefits  - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	$ 1,100,245	$ 1,053,438	$ 963,861
Fair Value, Measurements, Recurring
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	1,100,245	1,053,438
Defined Benefit Plan, Plan Assets Measured at Net Asset Value	1,078,345	1,039,879
Fair Value, Measurements, Recurring | Quoted prices in active markets of identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	613	365
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	21,287	13,194
Fair Value, Measurements, Recurring | Significant other unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	22,476	14,188
Defined Benefit Plan, Plan Assets Measured at Net Asset Value	576	629
Fair Value, Measurements, Recurring | Cash and cash equivalents | Quoted prices in active markets of identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	613	365
Fair Value, Measurements, Recurring | Cash and cash equivalents | Significant other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	21,287	13,194
Fair Value, Measurements, Recurring | Cash and cash equivalents | Significant other unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring | Global all-cap
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	264,909	248,222
Defined Benefit Plan, Plan Assets Measured at Net Asset Value	264,909	248,222
Fair Value, Measurements, Recurring | Global all-cap | Quoted prices in active markets of identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring | Global all-cap | Significant other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring | Global all-cap | Significant other unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring | U.S. government/agency
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	215,573	264,066
Defined Benefit Plan, Plan Assets Measured at Net Asset Value	215,573	264,066
Fair Value, Measurements, Recurring | U.S. government/agency | Quoted prices in active markets of identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring | U.S. government/agency | Significant other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring | U.S. government/agency | Significant other unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring | Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	155,648	136,896
Defined Benefit Plan, Plan Assets Measured at Net Asset Value	155,648	136,896
Fair Value, Measurements, Recurring | Corporate bonds | Quoted prices in active markets of identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring | Corporate bonds | Significant other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring | Corporate bonds | Significant other unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring | International government/corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	32,586	32,407
Defined Benefit Plan, Plan Assets Measured at Net Asset Value	32,586	32,407
Fair Value, Measurements, Recurring | International government/corporate bonds | Quoted prices in active markets of identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring | International government/corporate bonds | Significant other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring | International government/corporate bonds | Significant other unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring | Diversified credit
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	160,829	103,793
Defined Benefit Plan, Plan Assets Measured at Net Asset Value	160,829	103,793
Fair Value, Measurements, Recurring | Diversified credit | Quoted prices in active markets of identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring | Diversified credit | Significant other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring | Diversified credit | Significant other unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring | Global diversified assets
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	117,290	146,681
Defined Benefit Plan, Plan Assets Measured at Net Asset Value	117,290	146,681
Fair Value, Measurements, Recurring | Global diversified assets | Quoted prices in active markets of identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring | Global diversified assets | Significant other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring | Global diversified assets | Significant other unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring | Global real estate investment trusts
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	60,083	53,159
Defined Benefit Plan, Plan Assets Measured at Net Asset Value	60,083	53,159
Fair Value, Measurements, Recurring | Global real estate investment trusts | Quoted prices in active markets of identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring | Global real estate investment trusts | Significant other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring | Global real estate investment trusts | Significant other unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring | Global infrastructure
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	70,851	54,026
Defined Benefit Plan, Plan Assets Measured at Net Asset Value	70,851	54,026
Fair Value, Measurements, Recurring | Global infrastructure | Quoted prices in active markets of identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring | Global infrastructure | Significant other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring | Global infrastructure | Significant other unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	$ 0	$ 0

PENSION AND OTHER POST-RETIR_11

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - SCHEDULE OF EXPECTED BENEFIT PAYMENTS TO BE PAID (Details) $ in Thousands	Dec. 31, 2020USD ($)
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
2021	$ 116,050
2022	101,245
2023	98,348
2024	94,155
2025	90,546
2026-2030	369,540
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
2021	19,769
2022	18,174
2023	17,167
2024	16,244
2025	15,227
2026-2030	$ 64,235

STOCK COMPENSATION PLANS - STOC

STOCK COMPENSATION PLANS - STOCK COMPENSATION PLANS NARRATIVE (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares authorized (shares)	65,800,000
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized	$ 60,198
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition	1 year 10 months 24 days
Intrinsic value of share-based liabilities paid, combined with the fair value of shares vested (in millions of dollars)	$ 56,294	$ 51,739	$ 28,752
Deferred performance stock units, deferred restricted stock units, and directors' fees and accumulated dividend amounts representing deferred stock units outstanding	254,269
Employee stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition	1 year 3 months 18 days
Share-based compensation arrangement by share-based payment award, expiration period	10 years
Share-based compensation arrangement by share-based payment award, award vesting period	4 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 21.31	$ 15.25	$ 15.58
Intrinsic value of options exercised (in millions of dollars)	$ 32,121	$ 115,786	$ 38,382
Employee service share-based compensation, nonvested awards, compensation not yet recognized, stock options	$ 2,138
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition	3 years
Share-based compensation arrangement by share-based payment award, award vesting period	3 years
Performance stock units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation arrangement, by share based payment award, equity instruments other than options, performance score, percentage	0.00%
Performance stock units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation arrangement, by share based payment award, equity instruments other than options, performance score, percentage	250.00%
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 - SCHE

STOCK COMPENSATION PLANS - SCHEDULE OF COMPENSATION EXPENSE AND INCOME TAX BENEFITS FOR STOCK-BASED COMPENSATION PROGRAMS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement [Abstract]
Pre-tax compensation expense	$ 57,584	$ 51,899	$ 49,286
Related income tax benefit	$ 8,580	$ 9,030	$ 9,463

STOCK COMPENSATION PLANS - SC_2

STOCK COMPENSATION PLANS - SCHEDULE OF STOCK OPTION ACTIVITY (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding shares at beginning of year (shares)	2,420,461
Granted (shares)	15,260
Exercised (shares)	(553,131)
Forfeited (shares)	(42,779)
Outstanding as of December 31, 2020 (shares)	1,839,811	2,420,461
Options exercisable as of December 31, 2020 (shares)	1,406,063
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding (USD per share)	$ 97.80
Granted (USD per share)	157.32
Exercises (USD per share)	92.70
Forfeited (USD per share)	102.44
Outstanding (USD per share)	99.72	$ 97.80
Options exercisable (USD per share)	$ 98.29
Options outstanding, weighted-average remaining contractual term	4 years 10 months 24 days	5 years 8 months 12 days
Options exercisable, weighted aver remaining contractual term	4 years 2 months 12 days
Aggregate intrinsic value of options outstanding	$ 96,873
Aggregate intrinsic value of options exercisable	$ 75,977

STOCK COMPENSATION PLANS - SC_3

STOCK COMPENSATION PLANS - SCHEDULE OF FAIR VALUE WEIGHTED-AVERAGE ASSUMPTIONS (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement [Abstract]
Dividend yields	2.10%	2.70%	2.40%
Expected volatility	17.50%	17.00%	16.60%
Risk-free interest rates	1.30%	2.50%	2.80%
Expected term in years	6 years 8 months 12 days	6 years 6 months	6 years 7 months 6 days

STOCK COMPENSATION PLANS - SC_4

STOCK COMPENSATION PLANS - SCHEDULE OF STOCK OPTION INFORMATION BY EXERCISE PRICE RANGE (Details)	12 Months Ended
	Dec. 31, 2020$ / sharesshares
$34.89 - $96.65
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit	$ 34.89
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit	$ 96.65
Number Outstanding as of 12/31/20 (shares) | shares	451,518
Weighted- Average Remaining Contractual Life in Years	3 years 6 months
Weighted- Average Exercise Price (USD per share)	$ 83.35
Number Exercisable as of 12/31/20 (shares) | shares	447,523
Weighted- Average Exercise Price (USD per share)	$ 83.24
$96.66 - $105.91
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit	96.66
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit	$ 105.91
Number Outstanding as of 12/31/20 (shares) | shares	699,982
Weighted- Average Remaining Contractual Life in Years	6 years 1 month 6 days
Weighted- Average Exercise Price (USD per share)	$ 101.70
Number Exercisable as of 12/31/20 (shares) | shares	409,235
Weighted- Average Exercise Price (USD per share)	$ 102.90
$105.92 - $157.32
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit	105.92
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit	$ 157.32
Number Outstanding as of 12/31/20 (shares) | shares	688,311
Weighted- Average Remaining Contractual Life in Years	4 years 6 months
Weighted- Average Exercise Price (USD per share)	$ 108.44
Number Exercisable as of 12/31/20 (shares) | shares	549,305
Weighted- Average Exercise Price (USD per share)	$ 107.13
$34.89 - $157.32
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit	34.89
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit	$ 157.32
Number Outstanding as of 12/31/20 (shares) | shares	1,839,811
Weighted- Average Remaining Contractual Life in Years	4 years 10 months 24 days
Weighted- Average Exercise Price (USD per share)	$ 99.72
Number Exercisable as of 12/31/20 (shares) | shares	1,406,063
Weighted- Average Exercise Price (USD per share)	$ 98.29

STOCK COMPENSATION PLANS - SC_5

STOCK COMPENSATION PLANS - SCHEDULE OF PSUs AND RSUs ACTIVITY (Details) - Performance and restricted stock units - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at beginning of year (shares)	1,089,916
Granted (shares)	353,037	493,828	457,315
Performance assumption change (shares)	128,431
Vested (shares)	(378,913)
Forfeited (shares)	(139,139)
Outstanding at end of year (shares)	1,053,332	1,089,916
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)	$ 112.52
Weighted-average fair value at date of grant (USD per share)	161.30	$ 115.94	$ 97.86
Performance assumption change	140.39
Vested (USD per share)	109.99
Forfeited (USD per share)	124.74
Outstanding at end of year (USD per share)	$ 135.11	$ 112.52

STOCK COMPENSATION PLANS - SC_6

STOCK COMPENSATION PLANS - SCHEDULE OF PSUs AND RSUS FAIR VALUE WEIGHTED-AVERAGE ASSUMPTIONS (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jun. 26, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated values (USD per share)				$ 125.85
Dividend yields	2.10%	2.70%	2.40%
Performance and restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (shares)	353,037	493,828	457,315
Weighted-average fair value at date of grant (USD per share)	$ 161.30	$ 115.94	$ 97.86
Estimated values (USD per share)	$ 80.08	$ 48.40	$ 29.17
Dividend yields	2.00%	2.60%	2.60%
Expected volatility	17.30%	20.30%	20.40%

SEGMENT INFORMATION - NARRATIVE

SEGMENT INFORMATION - NARRATIVE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
North America | Geographic Concentration Risk | Revenue from Contract with Customer Benchmark
Revenue, Major Customer [Line Items]
Concentration Risk, Percentage		91.00%
Operating Segments | Commodities futures and options
Revenue, Major Customer [Line Items]
Net gains (losses) on commodity derivative positions reclassified from unallocated to segment income		$ 13,022	$ 6,837	$ (98,884)
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	$ 40,766
Cost of Sales | Commodities futures and options
Revenue, Major Customer [Line Items]
Derivative, Gain (Loss) on Derivative, Net		$ 62,537

SEGMENT INFORMATION - SCHEDULE

SEGMENT INFORMATION - SCHEDULE OF NET SALES AND EARNINGS BY SEGMENT (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net sales	$ 8,149,719	$ 7,986,252	$ 7,791,069
Operating profit	1,782,698	1,595,952	1,623,664
Costs associated with business realignment activities (see Note 9)	31,513	9,238	51,827
Interest expense, net	149,374	144,125	138,837
Other (income) expense, net	138,327	71,043	74,766
Income before income taxes	1,494,997	1,380,784	1,410,061
Operating Segments
Segment Reporting Information [Line Items]
Operating profit	2,350,415	2,221,563	2,093,844
Operating Segments | North America
Segment Reporting Information [Line Items]
Net sales	7,416,697	7,081,764	6,901,607
Operating profit	2,321,823	2,125,861	2,020,082
Operating Segments | International and Other
Segment Reporting Information [Line Items]
Net sales	733,022	904,488	889,462
Operating profit	28,592	95,702	73,762
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Nonoperating Income (Expense)	520,632	532,539	528,887
Segment Reconciling Items
Segment Reporting Information [Line Items]
Unallocated mark-to-market losses (gains) on commodity derivatives	(6,429)	28,651	168,263
Long-lived and intangible asset impairment charges	9,143	112,485	57,729
Costs associated with business realignment activities (see Note 9)	$ 31,513	$ 9,238	$ 51,827

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	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net losses (gains) on mark-to-market valuation of commodity derivative positions recognized in unallocated derivative losses (gains)	$ 6,429	$ (28,651)	$ (168,263)
Operating Segments
Segment Reporting Information [Line Items]
Net gains (losses) on commodity derivative positions reclassified from unallocated to segment income	13,022	6,837	(98,884)
Non-designated Hedges
Segment Reporting Information [Line Items]
Net gains on mark-to-market valuation of commodity derivative positions recognized in income	$ (6,593)	$ (35,488)	$ (69,379)

SEGMENT INFORMATION - SCHEDUL_3

SEGMENT INFORMATION - SCHEDULE OF DEPRECIATION AND AMORTIZATION EXPENSE INCLUDED WITHIN SEGMENT INCOME (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 294,907	$ 291,544	$ 295,144
Operating Segments | North America
Segment Reporting Information [Line Items]
Depreciation and amortization	222,153	220,513	205,340
Operating Segments | International and Other
Segment Reporting Information [Line Items]
Depreciation and amortization	28,693	29,289	35,656
Corporate, Non-Segment | Corporate (1)
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 44,061	$ 41,742	$ 54,148

SEGMENT INFORMATION - SCHEDUL_4

SEGMENT INFORMATION - SCHEDULE OF SEGMENT INFORMATION BY GEOGRAPHY (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 8,149,719	$ 7,986,252	$ 7,791,069
Long-lived assets	2,285,255	2,153,139	2,130,294
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	7,042,804	6,722,617	6,535,675
Long-lived assets	1,836,114	1,717,606	1,668,186
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	1,106,915	1,263,635	1,255,394
Long-lived assets	$ 449,141	$ 435,533	$ 462,108

SEGMENT INFORMATION - SCHEDUL_5

SEGMENT INFORMATION - SCHEDULE OF ADDITIONAL PRODUCT LINE SALES (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 27, 2020	Jun. 28, 2020	Mar. 29, 2020	Dec. 31, 2019	Sep. 29, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net sales	$ 2,185,244	$ 2,219,829	$ 1,707,329	$ 2,037,317	$ 2,068,125	$ 2,134,422	$ 1,767,217	$ 2,016,488	$ 8,149,719	$ 7,986,252	$ 7,791,069
Confectionery and confectionery-based portfolio
Segment Reporting Information [Line Items]
Net sales									7,628,926	7,553,954	7,453,364
Snacks portfolio
Segment Reporting Information [Line Items]
Net sales									$ 520,793	$ 432,298	$ 337,705

EQUITY AND NONCONTROLLING INT_3

EQUITY AND NONCONTROLLING INTEREST - EQUITY AND NONCONTROLLING INTEREST NARRATIVE (Details)	3 Months Ended	12 Months Ended
	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2020vote$ / sharesshares	Dec. 31, 2019USD ($)shares	Dec. 31, 2018shares
Class of Stock [Line Items]
Common and preferred shares authorized (shares)		1,055,000,000
Preferred stock, shares authorized (shares)		5,000,000
Preferred stock, par (USD per share) | $ / shares		$ 1
Dividends, common stock, cash, additional percentage over Class B common stock dividends		10.00%
Retirement of treasury common stock | $			$ 0
Common stock, shares, outstanding (shares)	209,728,904	208,227,127	208,829,433	209,728,904
Treasury Common Stock
Class of Stock [Line Items]
Retirement of treasury common stock | $			$ 6,423,267,000
Retained Earnings
Class of Stock [Line Items]
Retirement of treasury common stock | $			$ (6,284,919,000)
Noncontrolling Interests in Subsidiaries | Lotte Shanghai Food Company
Class of Stock [Line Items]
Noncontrolling interest, ownership percentage by parent		50.00%
Common stock
Class of Stock [Line Items]
Common stock, shares authorized (shares)		900,000,000
Common stock, par (USD per share) | $ / shares		$ 1
Common stock, voting rights (vote) | vote		1
Retirement of treasury common stock (shares)		0	138,348,719	0
Treasury Stock, Shares, Acquired		951,138	1,386,193	1,406,093
Common Stock Voting Rights, Board Election Percentage		16.66%
Common stock | Hershey Trust Company
Class of Stock [Line Items]
Common stock, shares, outstanding (shares)		123,600
Class B common stock
Class of Stock [Line Items]
Common stock, shares authorized (shares)		150,000,000
Common stock, voting rights (vote) | vote		10
Conversion of stock		0	0	6,000
Class B common stock | Hershey Trust Company
Class of Stock [Line Items]
Common stock, shares, outstanding (shares)		60,612,012
Common stock, voting percentage		80.00%
Treasury Common Stock
Class of Stock [Line Items]
Retirement of treasury common stock (shares)			138,348,719
Hershey Trust Company
Class of Stock [Line Items]
Treasury Stock, Shares, Acquired	450,000
Treasury Stock Acquired, Average Cost Per Share | $ / shares	$ 106.30
Stock Repurchased During Period, Value | $	$ 47,835,000

EQUITY AND NONCONTROLLING INT_4

EQUITY AND NONCONTROLLING INTEREST - SCHEDULE OF THE CHANGES IN THE OUTSTANDING SHARES OF COMMMON STOCK (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Common stock, shares issued (shares)	221,553,025	359,901,744	359,901,744
Treasury stock, shares, beginning of the period (shares)	(12,723,592)	(150,172,840)	(149,040,927)
Stock issuances:
Treasury stock, shares, end of the period (shares)	(13,325,898)	(12,723,592)	(150,172,840)
Change in Common Stock due to retirement of treasury shares (shares)	0	(138,348,719)	0
Common stock, shares, outstanding (shares)	208,227,127	208,829,433	209,728,904
Employee stock options
Stock repurchases:
Treasury Stock, Shares, Acquired	(450,000)	(2,674,349)	(615,719)
Stock issuances:
Stock issued during period, shares, share-based compensation (gross)	798,832	3,161,071	1,339,899
Common stock
Class of Stock [Line Items]
Common stock, shares issued (shares)	160,939,248	160,939,248
Stock repurchases:
Treasury Stock, Shares, Acquired	(951,138)	(1,386,193)	(1,406,093)
Stock issuances:
Retirement of treasury common stock (shares)	0	138,348,719	0
Hershey Trust Company
Stock repurchases:
Treasury Stock, Shares, Acquired	0	0	(450,000)

EQUITY AND NONCONTROLLING INT_5

EQUITY AND NONCONTROLLING INTEREST - SCHEDULE OF ACTIVITY RELATING TO THE NONCONTROLLING INTEREST (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance, December 31, 2019	$ 5,772
Net income (loss) attributable to noncontrolling interests	(3,295)	$ (2,940)	$ (6,511)
Balance, December 31, 2020	3,531	5,772
Noncontrolling Interests in Subsidiaries
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance, December 31, 2019	5,772
Net income (loss) attributable to noncontrolling interests	(3,295)	(2,940)	$ (6,511)
Other comprehensive income - foreign currency translation adjustments	1,054
Balance, December 31, 2020	$ 3,531	$ 5,772

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - SCHEDULE OF PURCHASE OBLIGATIONS COVERED BY PUTCHASE AGREEMENTS WITH VARIOUS SUPPLIERS FUTURE MATURTY SCHEDULE (Details) - Inventories $ in Millions	Dec. 31, 2020USD ($)
Unrecorded Unconditional Purchase Obligation, Fiscal Year Maturity [Abstract]
2021	$ 1,548.9
2022	309.7
2023	21.8
2024	1.5
2025	$ 1.5

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - COMMITMENTS AND CONTINGENCIES NARRATIVE (Details) - employee	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Concentration Risk [Line Items]
Entity number of employees		15,200
Entity number of part-time employees		1,680
Workforce Subject to Collective Bargaining Arrangements
Concentration Risk [Line Items]
Entity number of employees		6,285
Percentage of employees		37.00%
Workforce Subject to Collective Bargaining Arrangements | Scenario, Forecast
Concentration Risk [Line Items]
Percentage of employees	70.00%

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								12 Months Ended
	Dec. 31, 2020	Sep. 27, 2020	Jun. 28, 2020	Mar. 29, 2020	Dec. 31, 2019	Sep. 29, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Common stock
Basic earnings per share:
Allocation of distributed earnings (cash dividends paid)									$ 467,013	$ 445,685	$ 410,732
Allocation of undistributed earnings									464,802	393,731	449,372
Total earnings—basic									$ 931,815	$ 839,416	$ 860,104
Total weighted-average shares—basic (shares)									147,832	148,841	149,379
Earnings Per Share—basic (USD per share)	$ 1.44	$ 2.21	$ 1.33	$ 1.33	$ 1.02	$ 1.59	$ 1.54	$ 1.49	$ 6.30	$ 5.64	$ 5.76
Diluted earnings per share:
Allocation of total earnings used in basic computation									$ 931,815	$ 839,416	$ 860,104
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock									346,893	310,276	317,458
Reallocation of undistributed earnings									0	0	0
Total earnings—diluted									$ 1,278,708	$ 1,149,692	$ 1,177,562
Conversion of Class B common stock to Common shares outstanding									60,614	60,614	60,614
Total weighted-average shares—diluted (shares)									209,414	210,702	210,989
Earnings Per Share—diluted (USD per share)	1.39	2.14	1.29	1.29	0.98	1.54	1.48	1.45	$ 6.11	$ 5.46	$ 5.58
Common stock | Employee stock options
Diluted earnings per share:
Incremental common shares attributable to dilutive effect of share-based payment arrangements									600	785	651
Common stock | Performance and restricted stock units
Diluted earnings per share:
Incremental common shares attributable to dilutive effect of share-based payment arrangements									368	462	345
Class B common stock
Basic earnings per share:
Allocation of distributed earnings (cash dividends paid)									$ 173,719	$ 164,627	$ 151,789
Allocation of undistributed earnings									173,174	145,649	165,669
Total earnings—basic									$ 346,893	$ 310,276	$ 317,458
Total weighted-average shares—basic (shares)									60,614	60,614	60,614
Earnings Per Share—basic (USD per share)	1.31	2	1.21	1.21	0.93	1.45	1.39	1.36	$ 5.72	$ 5.12	$ 5.24
Diluted earnings per share:
Allocation of total earnings used in basic computation									$ 346,893	$ 310,276	$ 317,458
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock									0	0	0
Reallocation of undistributed earnings									(822)	(886)	(803)
Total earnings—diluted									$ 346,071	$ 309,390	$ 316,655
Conversion of Class B common stock to Common shares outstanding									0	0	0
Total weighted-average shares—diluted (shares)									60,614	60,614	60,614
Earnings Per Share—diluted (USD per share)	$ 1.30	$ 2	$ 1.20	$ 1.21	$ 0.92	$ 1.44	$ 1.38	$ 1.36	$ 5.71	$ 5.10	$ 5.22
Class B common stock | Employee stock options
Diluted earnings per share:
Incremental common shares attributable to dilutive effect of share-based payment arrangements									0	0	0
Class B common stock | Performance and restricted stock units
Diluted earnings per share:
Incremental common shares attributable to dilutive effect of share-based payment arrangements									0	0	0

EARNINGS PER SHARE - EARNINGS P

EARNINGS PER SHARE - EARNINGS PER SHARE NARRATIVE (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 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)	15	1,476	4,196

OTHER (INCOME) EXPENSE, NET - S

OTHER (INCOME) EXPENSE, NET - SCHEDULE OF OTHER (INCOME) AND EXPENSE, NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Write-down of equity investments	$ 125,579	$ 50,457	$ 50,329
Non-service cost components of net periodic benefit cost relating to pension and other post-retirement benefit plans	12,560	20,415	20,672
Other (income) expense, net	188	171	3,765
Total	$ 138,327	$ 71,043	$ 74,766

SUPPLEMENTAL BALANCE SHEET IN_3

SUPPLEMENTAL BALANCE SHEET INFORMATION - SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Inventory, Net [Abstract]
Raw materials	$ 388,600	$ 271,125
Goods in process	104,841	98,842
Finished goods	645,664	614,698
Inventories at FIFO	1,139,105	984,665
Adjustment to LIFO	(174,898)	(169,414)
Total inventories	964,207	815,251
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid Expense	95,669	84,058
Other Assets, Current	158,809	156,022
Prepaid Expenses and Other	254,478	240,080
Property, Plant and Equipment [Abstract]
Land	131,513	105,627
Buildings	1,387,106	1,298,985
Machinery and equipment	3,169,754	3,120,003
Construction in progress	276,514	209,788
Property, plant and equipment, gross	4,964,887	4,734,403
Accumulated depreciation	(2,679,632)	(2,581,264)
Property, plant and equipment, net	2,285,255	2,153,139	$ 2,130,294
Other Assets, Noncurrent [Abstract]
Capitalized software, net	187,673	153,842
Operating lease ROU Assets	224,268	220,678
Other non-current assets	143,946	137,480
Total other non-current assets	555,887	512,000
Accrued Liabilities, Current [Abstract]
Payroll, compensation and benefits	237,342	230,518
Advertising, promotion and product allowances	309,537	279,440
Operating lease liabilities, current	$ 36,578	$ 29,209
Operating lease liabilities, current, extensible list	us-gaap:AccruedLiabilitiesCurrent	us-gaap:AccruedLiabilitiesCurrent
Other	$ 198,309	$ 163,205
Total accrued liabilities	781,766	702,372
Other Liabilities, Noncurrent [Abstract]
Post-retirement benefits liabilities	223,507	211,206
Pension benefits liabilities	70,727	58,773
Operating lease liabilities, non-current	$ 181,871	$ 184,163
Operating lease liabilities, non-current, extensible list	us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent
Other	$ 207,329	$ 201,635
Total other long-term liabilities	683,434	655,777
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Foreign currency translation adjustments	(98,525)	(83,704)
Pension and post-retirement benefit plans, net of tax	(194,205)	(189,187)
Cash flow hedges, net of tax	(45,352)	(51,075)
Total accumulated other comprehensive loss	$ (338,082)	$ (323,966)

QUARTERLY DATA (Unaudited) - SC

QUARTERLY DATA (Unaudited) - SCHEDULE OF QUARTERLY FINANCIAL INFORMATION (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 27, 2020	Jun. 28, 2020	Mar. 29, 2020	Dec. 31, 2019	Sep. 29, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jun. 26, 2020
Net sales	$ 2,185,244	$ 2,219,829	$ 1,707,329	$ 2,037,317	$ 2,068,125	$ 2,134,422	$ 1,767,217	$ 2,016,488	$ 8,149,719	$ 7,986,252	$ 7,791,069
Gross profit	962,071	1,080,024	792,552	866,622	911,912	943,318	874,744	892,504	3,701,269	3,622,478	3,575,325
Net income attributable to The Hershey Company	$ 291,387	$ 447,283	$ 268,901	$ 271,137	$ 207,187	$ 325,307	$ 312,840	$ 304,358	$ 1,278,708	$ 1,149,692	$ 1,177,562
Market price of common stock throughout the quarter (USD per share)												$ 125.85
Maximum
Market price of common stock throughout the quarter (USD per share)	$ 155.12	$ 149.59	$ 146.46	$ 160.95	$ 157.70	$ 161.40	$ 138.32	$ 114.83	$ 155.12	$ 157.70
Minimum
Market price of common stock throughout the quarter (USD per share)	137.46	126.75	125.85	111.43	140.29	134.25	113.84	104.30	137.46	140.29
Common stock
Net income per share - basic (USD per share)	1.44	2.21	1.33	1.33	1.02	1.59	1.54	1.49	6.30	5.64	$ 5.76
Net income per share - diluted (USD per share)	1.39	2.14	1.29	1.29	0.98	1.54	1.48	1.45	6.11	5.46	5.58
Dividends paid per share (USD per share)	0.804	0.804	0.773	0.773	0.773	0.773	0.722	0.722	3.154	2.990	2.756
Class B common stock
Net income per share - basic (USD per share)	1.31	2	1.21	1.21	0.93	1.45	1.39	1.36	5.72	5.12	5.24
Net income per share - diluted (USD per share)	1.30	2	1.20	1.21	0.92	1.44	1.38	1.36	5.71	5.10	5.22
Dividends paid per share (USD per share)	$ 0.731	$ 0.731	$ 0.702	$ 0.702	$ 0.702	$ 0.702	$ 0.656	$ 0.656	$ 2.866	$ 2.716	$ 2.504

SCHEDULE II - VALUATION AND Q_2

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	$ 253,758	$ 284,705	$ 373,288
Charged to Costs and Expenses	210,529	160,027	273,611
Charged to Other Accounts	0	0	0
Deductions from Reserves	(228,299)	(190,974)	(362,194)
Balance at End of Period	235,988	253,758	284,705
Allowance for Trade Receivables
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	24,966	24,610	41,792
Charged to Costs and Expenses	180,764	159,140	222,819
Charged to Other Accounts	0	0	0
Deductions from Reserves	(180,755)	(158,784)	(240,001)
Balance at End of Period	24,975	24,966	24,610
Valuation Allowance of Net Deferred Taxes
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	206,743	239,959	312,148
Charged to Costs and Expenses	2,603	(26,270)	18,413
Charged to Other Accounts	0	0	0
Deductions from Reserves	(16,036)	(6,946)	(90,602)
Balance at End of Period	193,310	206,743	239,959
Inventory Obsolescence Reserve
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	22,049	20,136	19,348
Charged to Costs and Expenses	27,162	27,157	32,379
Charged to Other Accounts	0	0	0
Deductions from Reserves	(31,508)	(25,244)	(31,591)
Balance at End of Period	$ 17,703	$ 22,049	$ 20,136