DOCUMENT AND ENTITY INFORMATION - USD ($)	9 Months Ended
DOCUMENT AND ENTITY INFORMATION - USD ($)	Sep. 30, 2018	Oct. 19, 2018	Jun. 30, 2017
Document Information [Line Items]
Entity registrant name	HERSHEY CO
Entity central index key	0000047111
Current fiscal year end date	--12-31
Entity filer category	Large Accelerated Filer
Document type	10-Q
Document period end date	Sep. 30, 2018
Document fiscal year focus	2018
Document fiscal period focus	Q3
Amendment flag	false
Entity current reporting status	Yes
Entity public float			$ 14,885,931,198
Common stock
Document Information [Line Items]
Entity common stock, shares outstanding (shares)		149,188,011
Class B common stock
Document Information [Line Items]
Entity common stock, shares outstanding (shares)		60,619,777

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Sep. 30, 2018	Oct. 01, 2017	Sep. 30, 2018	Oct. 01, 2017
Net sales	$ 2,079,593	$ 2,033,121	$ 5,803,167	$ 5,575,790
Cost of sales	1,216,100	1,090,185	3,172,194	2,957,655
Gross profit	863,493	942,936	2,630,973	2,618,135
Selling, marketing and administrative expense	453,921	477,452	1,388,793	1,380,212
Long-lived asset impairment charges	1,649	0	28,817	208,712
Business realignment costs	1,660	4,020	10,864	50,018
Operating profit	406,263	461,464	1,202,499	979,193
Interest expense, net	36,916	24,589	101,207	72,456
Other (income) expense, net	12,493	36,074	35,201	56,458
Income before income taxes	356,854	400,801	1,066,091	850,279
Provision for income taxes	91,441	126,788	226,640	275,291
Net income including noncontrolling interest	265,413	274,013	839,451	574,988
Net income (loss) attributable to noncontrolling interests	1,700	710	(1,320)	(26,860)
Net income attributable to The Hershey Company	$ 263,713	$ 273,303	$ 840,771	$ 601,848
Common stock
Net income per share—basic:
Net income per share - basic (USD per share)	$ 1.29	$ 1.32	$ 4.11	$ 2.91
Net income per share—diluted:
Net income per share - diluted (USD per share)	1.25	1.28	3.99	2.81
Dividends paid per share:
Dividends paid per share (USD per share)	0.722	0.656	2.034	1.892
Class B common stock
Net income per share—basic:
Net income per share - basic (USD per share)	1.17	1.20	3.74	2.64
Net income per share—diluted:
Net income per share - diluted (USD per share)	1.17	1.20	3.73	2.64
Dividends paid per share:
Dividends paid per share (USD per share)	$ 0.656	$ 0.596	$ 1.848	$ 1.720

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Oct. 01, 2017	Sep. 30, 2018	Oct. 01, 2017
Net income including noncontrolling interest	$ 265,413	$ 274,013	$ 839,451	$ 574,988
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, pre-tax amount	5,365	9,605	(18,314)	27,878
Foreign currency translation adjustments, tax (expense) benefit	0	0	0	0
Foreign currency translation adjustments, after-tax amount	5,365	9,605	(18,314)	27,878
Reclassification to earning due to the sale of businesses, pre-tax amount	25,131	0	25,131	0
Reclassification to earning due to the sale of businesses, tax (expense) benefit	0	0	0	0
Reclassification to earning due to the sale of businesses, after-tax amount	25,131	0	25,131	0
Pension and post-retirement benefit plans:
Net actuarial gain (loss) and prior service cost, pre-tax amount	(7,574)	(9,200)	(7,574)	(9,396)
Net actuarial gain (loss) and prior service cost, tax (expense) benefit	1,871	3,487	1,871	3,561
Net actuarial gain (loss) and prior service cost, after-tax amount	(5,703)	(5,713)	(5,703)	(5,835)
Tax cuts and jobs act, reclassification from aoci to retained earnings, tax effect			0
Reclassification to earnings, pre-tax amount	12,082	24,300	22,273	38,544
Reclassification to earnings, tax (expense) benefit	(3,170)	(8,941)	(5,302)	(22,636)
Reclassification to earnings, after-tax amount	8,912	15,359	16,971	15,908
Cash flow hedges:
Gains (losses) on cash flow hedging derivatives, pre-tax amount	(1,484)	(1,339)	6,320	(3,545)
Gains (losses) on cash flow hedging derivatives, tax (expense) benefit	1,207	761	(256)	1,643
Gains (losses) on cash flow hedging derivatives, after-tax amount	(277)	(578)	6,064	(1,902)
Reclassification to earnings, pre-tax amount	(2,261)	1,962	2,462	7,374
Reclassification to earnings, tax (expense) benefit	(479)	(1,380)	(1,674)	(3,827)
Reclassification to earnings, after-tax amount	(2,740)	582	788	3,547
Total other comprehensive income (loss), pre-tax amount	31,259	25,328	30,298	60,855
Total other comprehensive income (loss), tax (expense) benefit	(571)	(6,073)	(53,017)	(21,259)
Total other comprehensive income (loss), after-tax amount	30,688	19,255	(22,719)	39,596
Total comprehensive income including noncontrolling interest	296,101	293,268	816,732	614,584
Comprehensive income (loss) attributable to noncontrolling interest	497	1,029	(1,857)	(26,125)
Comprehensive income attributable to The Hershey Company	295,604	292,239	818,589	640,709
Pension and post-retirement benefit plans
Pension and post-retirement benefit plans:
Tax cuts and jobs act, reclassification from aoci to retained earnings, pre tax effect	0	0	0	0
Tax cuts and jobs act, reclassification from aoci to retained earnings, tax effect	0	0	(36,535)	0
Tax cuts and jobs act, reclassification from aoci to retained earnings, after tax	0	0	(36,535)	0
Cash flow hedges
Pension and post-retirement benefit plans:
Tax cuts and jobs act, reclassification from aoci to retained earnings, pre tax effect	0	0	0	0
Tax cuts and jobs act, reclassification from aoci to retained earnings, tax effect	0	0	(11,121)	0
Tax cuts and jobs act, reclassification from aoci to retained earnings, after tax	$ 0	$ 0	$ (11,121)	$ 0

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 823,787	$ 380,179
Accounts receivable—trade, net	814,923	588,262
Inventories	880,673	752,836
Prepaid expenses and other	274,663	280,633
Total current assets	2,794,046	2,001,910
Property, plant and equipment, net	2,092,899	2,106,697
Goodwill	1,677,101	821,061
Other intangibles	1,008,051	369,156
Other assets	261,248	251,879
Deferred income taxes	2,844	3,023
Total assets	7,836,189	5,553,726
Current liabilities:
Accounts payable	581,481	523,229
Accrued liabilities	663,974	676,134
Accrued income taxes	61,030	17,723
Short-term debt	1,449,226	559,359
Current portion of long-term debt	3,115	300,098
Total current liabilities	2,758,826	2,076,543
Long-term debt	3,253,879	2,061,023
Other long-term liabilities	429,232	438,939
Deferred income taxes	144,980	45,656
Total liabilities	6,586,917	4,622,161
Stockholders’ equity:
Preferred stock, shares issued: none at September 30, 2018 and December 31, 2017	0	0
Additional paid-in capital	957,759	924,978
Retained earnings	6,843,057	6,371,082
Treasury—common stock shares, at cost: 150,181,170 at September 30, 2018 and 149,040,927 at December 31, 2017	(6,589,861)	(6,426,877)
Accumulated other comprehensive loss	(335,954)	(313,746)
Total—The Hershey Company stockholders’ equity	1,234,902	915,338
Noncontrolling interest in subsidiary	14,370	16,227
Total stockholders’ equity	1,249,272	931,565
Total liabilities and stockholders’ equity	7,836,189	5,553,726
Common stock
Stockholders’ equity:
Common stock	299,281	299,281
Class B common stock
Stockholders’ equity:
Common stock	$ 60,620	$ 60,620

CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Sep. 30, 2018	Dec. 31, 2017
Preferred stock, shares issued (shares)	0	0
Treasury stock, shares (shares)	150,181,170	149,040,927
Common stock
Common stock, shares issued (shares)	299,281,967	299,281,967
Class B common stock
Common stock, shares issued (shares)	60,619,777	60,619,777

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Oct. 01, 2017
Statement of Cash Flows [Abstract]
Net income including noncontrolling interest	$ 839,451	$ 574,988
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	225,803	194,313
Stock-based compensation expense	35,668	37,966
Deferred income taxes	1,343	(14,859)
Impairment of long-lived assets	28,817	208,712
Write-down of equity investments	23,067	23,999
Other	22,433	60,129
Changes in assets and liabilities, net of business acquisition and divestitures:
Accounts receivable—trade, net	(212,193)	(161,451)
Inventories	(111,901)	(192,509)
Prepaid expenses and other current assets	(59,182)	(33,581)
Accounts payable and accrued liabilities	(1,665)	(15,380)
Accrued income taxes	125,698	18,849
Contributions to pension and other benefit plans	(26,705)	(57,883)
Other assets and liabilities	2,227	(17,394)
Net cash provided by operating activities	892,861	625,899
Investing Activities
Capital additions (including software)	(241,214)	(148,923)
Proceeds from sales of property, plant and equipment and other long-lived assets	46,652	1,758
Proceeds from sales of businesses, net of cash and cash equivalents divested	171,950	0
Equity investments in tax credit qualifying partnerships	(34,170)	(39,977)
Business acquisition, net of cash and cash equivalents acquired	(915,457)	0
Net cash used in investing activities	(972,239)	(187,142)
Financing Activities
Net increase in short-term debt	893,365	173,110
Long-term borrowings	1,199,891	0
Repayment of long-term debt	(910,851)	(204)
Repayment of tax receivable obligation	(72,000)	0
Cash dividends paid	(415,178)	(391,845)
Repurchase of common stock	(199,665)	(300,312)
Exercise of stock options	33,454	53,532
Net cash provided by (used in) financing activities	529,016	(465,719)
Effect of exchange rate changes on cash and cash equivalents	(6,030)	5,051
Increase (decrease) in cash and cash equivalents	443,608	(21,911)
Cash and cash equivalents, beginning of period	380,179	296,967
Cash and cash equivalents, end of period	823,787
Supplemental Disclosure
Interest paid	99,886	81,497
Income taxes paid	$ 94,969	$ 271,412

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - 9 months ended Sep. 30, 2018 - USD ($) $ in Thousands	Total	Common stock	Class B common stock	Preferred Stock	Common Stock Common stock	Common Stock Class B common stock	Additional Paid-in Capital	Retained Earnings	Retained Earnings Common stock	Retained Earnings Class 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	840,771							840,771
Net income (loss) attributable to noncontrolling interests	(1,320)												(1,320)
Net income including noncontrolling interest	839,451
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	24,911											25,448	(537)
Dividends (including dividend equivalents):
Common Stock		$ (304,426)	$ (112,026)						$ (304,426)	$ (112,026)
Stock-based compensation	36,008						36,008
Exercise of stock options and incentive-based transactions	33,454						(3,227)				36,681
Repurchase of common stock	(199,665)										(199,665)
Reclassification of tax effects relating to U.S. tax reform	0							47,656				(47,656)
Ending balance, stockholders' equity at Sep. 30, 2018	$ 1,249,272			$ 0	$ 299,281	$ 60,620	$ 957,759	$ 6,843,057			$ (6,589,861)	$ (335,954)	$ 14,370

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

Sep. 30, 2018

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The unaudited consolidated financial statements provided in this report include the accounts of The Hershey Company (the “Company,” “Hershey,” “we” or “us”) and our majority-owned subsidiaries and entities in which we have a controlling financial interest after the elimination of intercompany accounts and transactions. We have a controlling financial interest if we own a majority of the outstanding voting common stock and the noncontrolling shareholders do not have substantive participating rights, or we have significant control over an entity through contractual or economic interests in which we are the primary beneficiary.

The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial reporting and with the rules and regulations for reporting on Form 10-Q. Accordingly, they do not contain certain information and disclosures required by GAAP for comprehensive financial statements. The financial statements reflect all adjustments which are, in our opinion, necessary for a fair presentation of the results of operations, financial position, and cash flows for the indicated periods.

Operating results for the quarter ended September 30, 2018 may not be indicative of the results that may be expected for the year ending December 31, 2018 because of seasonal effects on our business. These financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2017 (our “2017 Annual Report on Form 10-K”), which provides a more complete understanding of our accounting policies, financial position, operating results and other matters.

Revenue Recognition

The majority of our revenue is derived by fulfilling customer orders for the purchase of our products, including chocolate, sweets, mints and other grocery and snack offerings. 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. Shipping and handling costs incurred to deliver product to the customer are recorded within cost of sales. Amounts billed and due from our customers are classified as accounts receivables on the balance sheet and require payment on a short-term basis.

Revenue is measured as the amount of consideration we expect to receive in exchange for fulfilling product orders. Sales, value add, and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. Incidental items that are immaterial in the context of the contract are recognized as expense. The amount of consideration we expect to receive and revenue we recognize includes estimates of variable consideration, including costs for trade promotional programs, consumer incentives, and allowances and discounts associated with aged or potentially unsaleable products. These estimates are based upon our analysis of the programs offered, historical trends, expectations regarding customer and consumer participation, sales and payment trends and our experience with payment patterns associated with similar programs offered in the past. We review and update these estimates regularly and the impact of any adjustments are recognized in the period the adjustments are identified. The adjustments recognized in 2018 and 2017 resulting from updated estimates of revenue for prior year product sales were not significant.

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.

The majority of our products are confectionery or confectionery-based and, therefore, exhibit similar economic characteristics, such that they are based on similar ingredients and are marketed and sold through the same channels to the same customers. See Note 12 for revenues reported by geographic segment, which is consistent with how we organize and manage our operations.

Recent Accounting Pronouncements

Recently Adopted Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (ASC Topic 606), which replaces numerous requirements in U.S. GAAP, including industry-specific requirements, and provides companies with a single revenue recognition model for recognizing revenue from contracts with customers. On January 1, 2018, we adopted the requirements of ASC Topic 606 and all the related amendments to all of our contracts using the modified retrospective method. Upon completing our implementation assessment of Topic ASC 606, we concluded that no adjustment was required to the opening balance of retained earnings at the date of initial application. The comparative information was not restated and continues to be reported under the accounting standards in effect for those periods. Additional disclosures required by ASC Topic 606 are presented within the aforementioned Revenue Recognition policy disclosure.

In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory. This ASU requires the income tax consequences of intra-entity transfers of assets other than inventory to be recognized when the intra-entity transfer occurs rather than deferring recognition of income tax consequences until the transfer was made with an outside party. We adopted the provisions of this ASU in the first quarter of 2018. Adoption of the new standard did not have a material impact on our Consolidated Financial Statements.

In March 2017, the FASB issued ASU No. 2017-07, Compensation-Retirement Benefits (Topic 715). This ASU requires an employer to report the service cost component of net benefit cost in the same line item as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if presented, or disclosed separately. In addition, only the service cost component may be eligible for capitalization where applicable. The amendments should be applied on a retrospective basis. We adopted the provisions of this ASU in the first quarter of 2018, with retrospective adjustment to the comparative periods determined using the previously disclosed service cost and other costs from our prior year pension and other post-retirement benefit plan footnote. As a result, the following amounts were reclassified for the three and nine months ended October 1, 2017 to correspond to the current year presentation:



	Three Months Ended		Nine Months Ended
	October 1, 2017
Reclassified from:
Cost of sales	$	2,714	$	8,143
Selling, marketing and administrative expense	19,730		24,758
Reclassified to Other (income) expense, net	$	22,444	$	32,901

The adoption of this ASU had no impact on our consolidated balance sheets or statements of cash flows.

In February 2018, the FASB issued ASU No. 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. This ASU permits a company to reclassify the income tax effects of the 2017 Tax Cuts and Jobs Act (“U.S. tax reform”) on items within accumulated other comprehensive income (“AOCI”) to retained earnings. We adopted the provisions of this ASU in the first quarter of 2018. We elected to reclassify the income tax effects of the 2017 U.S. tax reform from items in AOCI as of January 1, 2018 so that the tax effects of items within AOCI are reflected at the appropriate tax rate. The impact of the reclassification resulted in a $47,656 decrease to AOCI and a corresponding increase to retained earnings. This amount is considered “provisional” based on reasonable estimates as the Company continues to collect and analyze detailed information about the associated impact of items under U.S. tax reform.

Recently Issued Accounting Pronouncements Not Yet Adopted

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). This ASU will require lessees to recognize most leases on their balance sheets as lease liabilities with corresponding right-of-use (“ROU”) assets. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. We are currently in the process of evaluating our existing lease portfolio, including accumulating all of the necessary information required to properly account for the leases under the new standard. Additionally, we are implementing new software functionality to assist in the accounting and are evaluating changes to our processes and internal controls to ensure we meet the standard’s reporting and disclosure requirements. In July 2018, the FASB issued ASU No. 2018-11, which provides entities with an additional transition method to adopt Topic 842. Under the new transition method, an entity initially applies the new leases standard at the adoption date, versus at the beginning of the earliest period presented, and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The Company expects to elect this transition method at the adoption date of January 1, 2019. We expect adoption of this standard to result in a material increase in lease-related assets and liabilities on our Consolidated Balance Sheets; however, we do not expect it to have a significant impact on our Consolidated Statements of Income or Cash Flows.

In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities, which amends ASC 815. The purpose of this ASU is to better align accounting rules with a company’s risk management activities and financial reporting for hedging relationships, better reflect economic results of hedging in financial statements, simplify hedge accounting requirements and improve the disclosures of hedging arrangements. The amendment should be applied using the modified retrospective transition method. ASU 2017-12 is effective for annual periods beginning after December 15, 2018 and interim periods within those annual periods, with early adoption permitted. We will adopt the provisions of this ASU in the first quarter of 2019. Adoption of the new standard is not expected to have a material impact on our Consolidated Financial Statements.

In June 2018, the FASB issued ASU No. 2018-07, Compensation – Stock Compensation (Topic 718), Improvements to Nonemployee Share-Based Payment Accounting. This ASU is intended to simplify aspects of share-based compensation issued to non-employees by making the guidance consistent accounting for employee share-based compensation. ASU 2018-07 is effective for annual periods beginning after December 15, 2018 and interim periods within those annual periods, with early adoption permitted but no earlier than an entity’s adoption date of Topic 606. We will adopt the provisions of this ASU in the first quarter of 2019. Adoption of the new standard is not expected to 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 are currently evaluating the effect that ASU 2018-13 will have on our consolidated financial statements and related disclosures.

In August 2018, the FASB issued ASU No. 2018-14, Compensation—Retirement Benefits—Defined Benefit Plans—General (Topic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans, which modifies the disclosure requirements for defined benefit pension plans and other post-retirement plans. ASU 2018-14 is effective for annual periods beginning after December 15, 2020, with early adoption permitted. We are currently evaluating the effect that ASU 2018-14 will have on our consolidated financial statements and related disclosures.

In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40), Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. This ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). ASU 2018-15 is effective for annual periods beginning after December 15, 2019 and interim periods within those annual periods, with early adoption permitted. The amendments in this ASU should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. We are currently evaluating the effect that ASU 2018-15 will have on our consolidated financial statements and related disclosures.

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 ACQUISITION

9 Months Ended

Sep. 30, 2018

Business Combinations [Abstract]

Business Acquisition

BUSINESS ACQUISITION

On January 31, 2018, we completed the acquisition of all of the outstanding shares of Amplify Snack Brands, Inc. (“Amplify”), a publicly traded company based in Austin, Texas that owns several popular better-for-you snack brands such as SkinnyPop, Oatmega, Paqui and Tyrrells. 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 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	$	41,152
Other current assets	35,509
Plant, property and equipment, net	71,093
Goodwill	939,388
Other intangible assets	682,000
Other non-current assets	1,049
Accounts payable	(32,394		)
Accrued liabilities	(109,565		)
Current debt	(610,836		)
Other current liabilities	(2,931		)
Non-current deferred income taxes	(93,859		)
Non-current liabilities	(5,149		)
Net assets acquired	$	915,457

In connection with the acquisition, the Company agreed to pay in full all outstanding debt owed by Amplify under its existing credit agreement as of January 31, 2018, as well as the amount due under Amplify's existing tax receivable obligation. The Company funded the acquisition and repayment of the acquired debt utilizing the proceeds from the issuance of commercial paper.

During 2018, we recorded measurement period adjustments totaling $26,865, the majority of which related to an increase in the final valuation of the assumed tax receivable obligation. The purchase price allocation has been concluded as of the end of the second quarter, except for the valuation of income tax-related liabilities, which we are still in the process of finalizing.

Goodwill is being 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 will result 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 of $648,000 and customer relationships of $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.

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. Under these valuation approaches, we are required to make estimates and assumptions about sales, operating margins, growth rates, royalty rates and discount rates based on budgets, business plans, economic projections, anticipated future cash flows and marketplace data.

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 Operations.

GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

GOODWILL AND INTANGIBLE ASSETS

The changes in the carrying value of goodwill by reportable segment for the nine months ended September 30, 2018 are as follows:



	North America			International and Other			Total
Balance at December 31, 2017	$	799,929		$	21,132		$	821,061
Acquired during the period (see Note 2)	939,388			—			939,388
Purchase price allocation adjustments (see Note 2)	26,865			—			26,865
Divested during the period (see Note 7)	(98,379		)	—			(98,379		)
Foreign currency translation and other	(9,150		)	(2,684		)	(11,834		)
Balance at September 30, 2018	$	1,658,653		$	18,448		$	1,677,101

The following table provides the gross carrying amount and accumulated amortization for each major class of intangible asset:



	September 30, 2018					December 31, 2017
	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Intangible assets subject to amortization:
Trademarks	$	909,624	$	(55,266	)	$	277,473	$	(37,510	)
Customer-related	157,168		(39,028		)	128,182		(34,659		)
Patents	16,753		(16,109		)	17,009		(15,975		)
Total	1,083,545		(110,403		)	422,664		(88,144		)

Intangible assets not subject to amortization:
Trademarks	34,909					34,636
Total other intangible assets	$	1,008,051				$	369,156

Total amortization expense for the three months ended September 30, 2018 and October 1, 2017 was $9,573 and $5,410, respectively. Total amortization expense for the nine months ended September 30, 2018 and October 1, 2017 was $27,858 and $17,968, respectively.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

SHORT AND LONG-TERM DEBT

9 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Short and Long-Term Debt

SHORT AND LONG-TERM DEBT

Short-term Debt

As a source of short-term financing, we utilize cash on hand and commercial paper or bank loans with an original maturity of three months or less. We maintain a $1.0 billion unsecured revolving credit facility, which currently expires in November 2020. This agreement also includes an option to increase borrowings by an additional $400 million with the consent of the lenders, which we exercised on October 24, 2018, bringing the total amount we may borrow under this credit facility to $1.4 billion. On January 8, 2018, we entered into an additional unsecured revolving credit facility that provided for borrowings up to $1.5 billion. This facility was scheduled to expire on January 7, 2019; however, we terminated it effective October 24, 2018.

The credit agreement contains certain financial and other covenants, customary representations, warranties and events of default. As of September 30, 2018, we were in compliance with all covenants pertaining to the credit agreement, and we had no significant compensating balance agreements that legally restricted these funds. For more information, refer to the Consolidated Financial Statements included in our 2017 Annual Report on Form 10-K.

In addition to the revolving credit facility, we maintain lines of credit with domestic and international commercial banks. We had short-term foreign bank loans against these lines of credit for $89,875 at September 30, 2018 and $110,684 at December 31, 2017. Commitment fees relating to our revolving credit facility and lines of credit are not material.

At September 30, 2018, we had outstanding commercial paper totaling $1,359,351, at a weighted average interest rate of 2.1%. At December 31, 2017, we had outstanding commercial paper totaling $448,675, at a weighted average interest rate of 1.4%.

Long-term Debt

Long-term debt consisted of the following:



	September 30, 2018			December 31, 2017
1.60% Notes due 2018 (1)	$	—		$	300,000
2.90% Notes due 2020 (2)	350,000			—
4.125% Notes due 2020	350,000			350,000
3.10% Notes due 2021 (2)	350,000			—
8.8% Debentures due 2021	84,715			84,715
3.375% Notes due 2023 (2)	500,000			—
2.625% Notes due 2023	250,000			250,000
3.20% Notes due 2025	300,000			300,000
2.30% Notes due 2026	500,000			500,000
7.2% Debentures due 2027	193,639			193,639
3.375% Notes due 2046	300,000			300,000
Capital lease obligations	98,417			99,194
Net impact of interest rate swaps, debt issuance costs and unamortized debt discounts	(19,777		)	(16,427		)
Total long-term debt	3,256,994			2,361,121
Less—current portion	3,115			300,098
Long-term portion	$	3,253,879		$	2,061,023


(1)	In August 2018, we repaid $300,000 of 1.60% Notes due in 2018 upon their maturity.


(2)	In May 2018, we issued $350,000 of 2.90% Notes due in 2020, $350,000 of 3.10% Notes due in 2021 and $500,000 of 3.375% Notes due in 2023 (the "Notes"). Proceeds from the issuance of the Notes, net of discounts and issuance costs, totaled $1,193,827. The Notes were issued under a shelf registration statement on Form S-3 filed in June 2015 that registered an indeterminate amount of debt securities.

Interest Expense

Net interest expense consists of the following:



	Three Months Ended						Nine Months Ended
	September 30, 2018			October 1, 2017			September 30, 2018			October 1, 2017
Interest expense	$	39,978		$	25,955		$	110,929		$	76,208
Capitalized interest	(1,243		)	(1,033		)	(3,876		)	(2,892		)
Interest expense	38,735			24,922			107,053			73,316
Interest income	(1,819		)	(333		)	(5,846		)	(860		)
Interest expense, net	$	36,916		$	24,589		$	101,207		$	72,456

DERIVATIVE INSTRUMENTS

9 Months Ended

Sep. 30, 2018

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 6- to 24-month periods. Our open commodity derivative contracts had a notional value of $823,798 as of September 30, 2018 and $405,288 as of December 31, 2017.

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 12, we define our segment income to exclude gains and losses on commodity derivatives until the related inventory is sold, at which time the related gains and losses are reflected within segment income. This enables us to continue to align the derivative gains and losses with the underlying economic exposure being hedged and thereby eliminate the mark-to-market volatility within our reported segment income.

Foreign Exchange Price Risk

We are exposed to foreign currency exchange rate risk related to our international operations, including non-functional currency intercompany debt and other non-functional currency transactions of certain subsidiaries. Principal currencies hedged include the euro, Canadian dollar, Japanese yen, British pound, and Brazilian real. We typically utilize foreign currency forward exchange contracts to hedge these exposures for periods ranging from 6 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 $63,801 at September 30, 2018 and $135,962 at December 31, 2017. 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 $144,577 at September 30, 2018 and $2,791 at December 31, 2017, respectively. The change in fair value on these instruments is recorded directly in cost of sales or selling, marketing and administrative expense, depending on the nature of the underlying exposure.

Interest Rate Risk

We manage our targeted mix of fixed and floating rate debt with debt issuances and by entering into fixed-to-floating interest rate swaps in order to mitigate fluctuations in earnings and cash flows that may result from interest rate volatility. These swaps are designated as fair value hedges, for which the gain or loss on the derivative and the offsetting loss or gain on the hedged item are recognized in current earnings as interest expense (income), net. We had one interest rate derivative instrument in a fair value hedging relationship with a notional amount of $350,000 at September 30, 2018 and December 31, 2017.

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 6 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 September 30, 2018 and December 31, 2017 was $30,794 and $25,246, respectively.

The following table presents the classification of derivative assets and liabilities within the Consolidated Balance Sheets as of September 30, 2018 and December 31, 2017:



	September 30, 2018				December 31, 2017
	Assets (1)		Liabilities (1)		Assets (1)		Liabilities (1)
Derivatives designated as cash flow hedging instruments:
Foreign exchange contracts	$	2,915	$	250	$	423	$	1,427

Derivatives designated as fair value hedging instruments:
Interest rate swap agreements	—		4,001		—		1,897

Derivatives not designated as hedging instruments:
Commodities futures and options (2)	51		16,684		390		3,054
Deferred compensation derivatives	2,151		—		1,581		—
Foreign exchange contracts	1,658		508		31		—
	3,860		17,192		2,002		3,054
Total	$	6,775	$	21,443	$	2,425	$	6,378


(1)	Derivatives assets are classified on our balance sheet within prepaid expenses and other as well as other assets. Derivative liabilities are classified on our balance sheet within accrued liabilities and other long-term liabilities.

(2)

As of September 30, 2018, amounts reflected on a net basis in liabilities were assets of $116,225 and liabilities of $132,837, 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 liabilities at December 31, 2017 were assets of $48,505 and liabilities of $50,179. At September 30, 2018 and December 31, 2017, the remaining amount reflected in assets and liabilities related to the fair value of other non-exchange traded derivative instruments, respectively.

Income Statement Impact of Derivative Instruments

The effect of derivative instruments on the Consolidated Statements of Income for the three months ended September 30, 2018 and October 1, 2017 was as follows:



	Non-designated Hedges						Cash Flow Hedges
	Non-designated Hedges						Cash Flow Hedges
	Gains (losses) recognized in income (a)						Gains (losses) recognized in other comprehensive income (“OCI”) (effective portion)						Gains (losses) reclassified from accumulated OCI into income (effective portion) (b)

	2018			2017			2018			2017			2018			2017
Commodities futures and options	$	(71,088	)	$	(2,445	)	$	—		$	—		$	—		$	(488	)
Foreign exchange contracts	1,595			11			(1,484		)	(1,339		)	4,605			869
Interest rate swap agreements	—			—			—			—			(2,344		)	(2,343		)
Deferred compensation derivatives	1,345			349			—			—			—			—
Total	$	(68,148	)	$	(2,085	)	$	(1,484	)	$	(1,339	)	$	2,261		$	(1,962	)

The effect of derivative instruments on the Consolidated Statements of Income for the nine months ended September 30, 2018 and October 1, 2017 was as follows:



	Non-designated Hedges						Cash Flow Hedges
	Non-designated Hedges						Cash Flow Hedges
	Gains (losses) recognized in income (a)						Gains (losses) recognized in other comprehensive income (“OCI”) (effective portion)					Gains (losses) reclassified from accumulated OCI into income (effective portion) (b)

	2018			2017			2018		2017			2018			2017
Commodities futures and options	$	(4,315	)	$	(40,500	)	$	—	$	—		$	—		$	(1,325	)
Foreign exchange contracts	1,580			(40		)	6,320		(3,545		)	4,648			1,087
Interest rate swap agreements	—			—			—		—			(7,110		)	(7,136		)
Deferred compensation derivatives	2,151			994			—		—			—			—
Total	$	(584	)	$	(39,546	)	$	6,320	$	(3,545	)	$	(2,462	)	$	(7,374	)


(a)	Gains (losses) recognized in income for non-designated commodities futures and options contracts were included in cost of sales. Gains (losses) recognized in income for non-designated foreign currency forward exchange contracts and deferred compensation derivatives were included in selling, marketing and administrative expenses.

(b)

Gains (losses) reclassified from AOCI into income were included in cost of sales for commodities futures and options contracts and for foreign currency forward exchange contracts designated as hedges of purchases of inventory or other productive assets. Other gains (losses) for foreign currency forward exchange contracts were included in selling, marketing and administrative expenses. Losses reclassified from AOCI into income for interest rate swap agreements were included in interest expense.

The amount of pretax net losses on derivative instruments, including interest rate swap agreements and foreign currency forward exchange contracts expected to be reclassified from accumulated OCI into earnings in the next 12 months was approximately $6,814 as of September 30, 2018. This amount was primarily associated with interest rate swap agreements.

Fair Value Hedges

For the three months ended September 30, 2018 and 2017, we recognized net incremental interest expense of $370 and a net benefit to interest expense of $573 relating to our fixed-to-floating interest swap arrangements. For the nine months ended September 30, 2018 and 2017, we recognized net incremental interest expense of $245 and a net benefit of $2,203 relating to our fixed-to-floating interest swap arrangements.

FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS

9 Months Ended

Sep. 30, 2018

FAIR VALUE MEASUREMENTS [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

Accounting guidance on fair value measurements requires that financial assets and liabilities be classified and disclosed in one of the following categories of the fair value hierarchy:

Level 1 – Based on unadjusted quoted prices for identical assets or liabilities in an active market.

Level 2 – Based on observable market-based inputs or unobservable inputs that are corroborated by market data.

Level 3 – Based on unobservable inputs that reflect the entity's own assumptions about the assumptions that a market participant would use in pricing the asset or liability.

We did not have any level 3 financial assets or liabilities, nor were there any transfers between levels during the periods presented.

The following table presents assets and liabilities that were measured at fair value in the Consolidated Balance Sheet on a recurring basis as of September 30, 2018 and December 31, 2017:



	Assets (Liabilities)
	Level 1		Level 2		Level 3		Total
September 30, 2018:
Derivative Instruments:
Assets:
Foreign exchange contracts (1)	$	—	$	4,573	$	—	$	4,573
Deferred compensation derivatives (3)	—		2,151		—		2,151
Commodities futures and options (4)	51		—		—		51
Liabilities:
Foreign exchange contracts (1)	—		758		—		758
Interest rate swap agreements (2)	—		4,001		—		4,001
Commodities futures and options (4)	16,684		—		—		16,684
December 31, 2017:
Assets:
Foreign exchange contracts (1)	$	—	$	454	$	—	$	454
Deferred compensation derivatives (3)	—		1,581		—		1,581
Commodities futures and options (4)	390		—		—		390
Liabilities:
Foreign exchange contracts (1)	—		1,427		—		1,427
Interest rate swap agreements (2)	—		1,897		—		1,897
Commodities futures and options (4)	3,054		—		—		3,054

(1)

The fair value of foreign currency forward exchange contracts is the difference between the contract and current market foreign currency exchange rates at the end of the period. We estimate the fair value of foreign currency forward exchange contracts on a quarterly basis by obtaining market quotes of spot and forward rates for contracts with similar terms, adjusted where necessary for maturity differences.


(2)	The fair value of interest rate swap agreements represents the difference in the present value of cash flows calculated at the contracted interest rates and at current market interest rates at the end of the period. We calculate the fair value of interest rate swap agreements quarterly based on the quoted market price for the same or similar financial instruments.


(3)	The fair value of deferred compensation derivatives is based on quoted prices for market interest rates and a broad market equity index.


(4)	The fair value of commodities futures and options contracts is based on quoted market prices.

Other Financial Instruments

The carrying amounts of cash and cash equivalents, short-term investments, accounts receivable, accounts payable and short-term debt approximated fair values as of September 30, 2018 and December 31, 2017 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
	September 30, 2018		December 31, 2017		September 30, 2018		December 31, 2017
Current portion of long-term debt	$	3,115	$	299,430	$	3,115	$	300,098
Long-term debt	3,221,093		2,113,296		3,253,879		2,061,023
Total	$	3,224,208	$	2,412,726	$	3,256,994	$	2,361,121

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.

In connection with the Amplify acquisition, during the first 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 previously classified as held for sale, as discussed in Note 7, during 2018, we recorded impairment charges totaling $28,817 to adjust the long-lived asset values within the Shanghai Golden Monkey ("SGM") and Tyrrells disposal groups. These charges represent the excess of the disposal groups' carrying values, including the related currency translation adjustment amounts 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 agreed with the third-party buyers. The sale of SGM and Tyrrells were both completed in July 2018.

During the first quarter of 2017, as discussed in Note 8, we recorded impairment charges totaling $105,992 to write down distributor relationship and trademark intangible assets that had been recognized in connection with the 2014 SGM acquisition and wrote down property, plant and equipment by $102,720. These charges were determined by comparing the fair value of the assets to their carrying value. The fair value of the assets were derived using a combination of an estimated market liquidation approach and discounted cash flow analyses based on Level 3 inputs.

ASSETS HELD FOR SALE ASSETS HELD FOR SALE (Notes)

9 Months Ended

Sep. 30, 2018

Discontinued Operations and Disposal Groups [Abstract]

Assets Held for Sale

ASSETS HELD FOR SALE

As of September 30, 2018, the following two disposal groups have been classified as held for sale, in each case stated at the lower of net book value or estimated sales value less costs to sell:


•	The long-lived assets of Lotte Shanghai Foods Co., Ltd. that were taken out of operation and classified as held for sale during the second quarter of 2018. We sold a portion of the equipment assets in the third quarter of 2018.


•	Select Pennsylvania facilities and land that met the held for sale criteria in the third quarter of 2018. We expect these long-lived assets to be sold by the end of 2019.

The amounts classified as assets held for sale (included in prepaid expenses and other assets) at September 30, 2018 include the following:



Property, plant and equipment, net	$	40,551
Other assets	3,278
	$	43,829

During the nine months ended September 30, 2018, the following disposal groups were sold:


•	In April 2018, we sold the licensing rights for a non-core trademark relating to a brand marketed outside of the U.S. for sale proceeds of approximately $13,000, realizing a gain on the sale of $2,658.


•	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 2016 Operational Optimization Program. Proceeds from the sale of these facilities totaled $27,468, resulting in a gain on the sale of $6,562.


•	In July 2018, we sold the Tyrrells and Shanghai Golden Monkey ("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 value of the disposal groups to the sales value less costs to sell.

BUSINESS REALIGNMENT ACTIVITIES

9 Months Ended

Sep. 30, 2018

Restructuring and Related Activities [Abstract]

Business Realignment Activities

BUSINESS REALIGNMENT ACTIVITIES

We are currently executing upon several business realignment initiatives designed to increase our efficiency and focus our business in support of our key growth strategies. Costs recorded during the three and nine months ended September 30, 2018 and October 1, 2017 related to these activities are as follows:



	Three Months Ended					Nine Months Ended
	September 30, 2018			October 1, 2017		September 30, 2018			October 1, 2017
Margin for Growth Program:
Severance	$	5,573		$	2,876	$	12,635		$	33,331
Accelerated depreciation	4,786			—		12,030			6,873
Other program costs	6,549			5,013		21,754			16,216
Operational Optimization Program:
Severance	—			—		—			13,828
Gain on sale of facilities	(6,562		)	—		(6,562		)	—
Other program costs	1,077			368		2,813			(549		)
Total	$	11,423		$	8,257	$	42,670		$	69,699

Margin for Growth Program

In the first quarter 2017, the Company's Board of Directors unanimously approved several initiatives under a single program designed to drive continued net sales, operating income and earnings per-share diluted growth over the next several years. This program is focused on improving global efficiency and effectiveness, optimizing the Company’s supply chain, streamlining the Company’s operating model and reducing administrative expenses to generate long-term savings.

We originally estimated that the Margin for Growth Program would result in total pre-tax charges of $375,000 to $425,000, to be incurred from 2017 to 2019. The majority of the initiatives relating to the program have been executed, with the final initiatives to be completed over the next six to twelve months. To date, we have incurred pre-tax charges to execute the program totaling $327,265. This includes long-lived asset impairment charges of $208,712 related to the operations supporting our China business as noted below, as well as the $16,300 incremental impairment resulting from the sale of Shanghai Golden Monkey (see Note 7). In addition to the impairment charges, we have incurred employee separation costs of $45,189, and other business realignment costs of $57,064. We currently expect to incur additional pre-tax costs of $13,000 to $28,000 over the remainder of the program, primarily related to cash costs for employee separation and other business realignment activities, bring total estimated project costs to approximately $340,000 to $355,000. The cash portion of the total program charges are estimated to be $97,000 to $112,000. The Company expects that implementation of the program will reduce its global workforce by approximately 15%, with a majority of the reductions coming from hourly headcount positions outside of the United States.

For the three and nine months ended September 30, 2018, we recognized total costs associated with the Margin for Growth Program of $16,908 and $46,419, respectively. These charges include employee severance, largely relating to initiatives to improve the cost structure of our China business and to further streamline our corporate operating model, as well as non-cash, asset-related incremental depreciation expense as part of optimizing the global supply chain. In addition, we incurred other program costs, which relate primarily to third-party charges in support of our initiative to improve global efficiency and effectiveness. For the three and nine months ended October 1, 2017, we recognized total costs associated with the Margin for Growth Program of $7,889 and $56,420, respectively. The 2017 charges are consistent in nature to the 2018 activity.

The program included an initiative to optimize the manufacturing operations supporting our China business. When the program was approved in 2017, we deemed this to be a triggering event requiring us to test our China long-lived asset group for impairment by first determining whether the carrying value of the asset group was recovered by our current estimates of future cash flows associated with the asset group. Because this assessment indicated that the carrying value was not recoverable, we calculated an impairment loss as the excess of the asset group's carrying value over its fair value. The resulting impairment loss was allocated to the asset group's long-lived assets. Therefore, as a result of this testing, during the first quarter of 2017, we recorded impairment charges totaling $208,712, with $105,992 representing the portion of the impairment loss that was allocated to the distributor relationship and trademark intangible assets that had been recognized in connection with the 2014 SGM acquisition and $102,720 representing the portion of the impairment loss that was allocated to property, plant and equipment. These impairment charges are recorded in the long-lived asset impairment charges caption within the Consolidated Statements of Operations.

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.

For the three and nine months ended September 30, 2018, we incurred pre-tax costs totaling $1,077 and $2,813, respectively, 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 that had been taken out of service in connection with the 2016 Operational Optimization Program. The sale resulted in a gain of $6,562 for the three and nine months ended September 30, 2018. For the three and nine months ended October 1, 2017, we incurred pre-tax costs totaling $368 and $13,279, respectively, primarily related to employee severance associated with the workforce planning efforts within North America. We have substantially completed the efforts relating to this program.

Costs associated with business realignment activities are classified in our Consolidated Statements of Income for the three and nine months ended September 30, 2018 and October 1, 2017 as follows:



	Three Months Ended				Nine Months Ended
	September 30, 2018		October 1, 2017		September 30, 2018		October 1, 2017
Cost of sales	$	4,565	$	213	$	14,101	$	6,475
Selling, marketing and administrative expense	4,598		4,024		17,105		13,206
Business realignment costs	2,260		4,020		11,464		50,018
Costs associated with business realignment activities	$	11,423	$	8,257	$	42,670	$	69,699

On a cumulative program to date basis, the costs and related benefits of the Margin for Growth Program are approximately 65% to the North America segment and 35% to the International and Other segment. In addition, the costs and related benefits of the Operational Optimization Program relate approximately 40% to the North America segment and 60% to the International and Other segment. However, segment operating results do not include these business realignment expenses because we evaluate segment performance excluding such costs.

The following table presents the liability activity for costs qualifying as exit and disposal costs for the nine months ended September 30, 2018:



	Total
Liability balance at December 31, 2017	$	38,992
2018 business realignment charges (1)	23,087
Cash payments	(43,884		)
Other, net	669
Liability balance at September 30, 2018 (reported within accrued and other long-term liabilities)	$	18,864

(1)

The costs reflected in the liability roll-forward represent employee-related and certain third-party service provider charges. These costs do not include items charged directly to expense, such as accelerated depreciation and amortization and certain of the third-party charges associated with various programs, as those items are not reflected in the business realignment liability in our Consolidated Balance Sheets.

INCOME TAXES	9 Months Ended
INCOME TAXES	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The majority of our taxable income is generated in the U.S. and taxed at the U.S. statutory rate of 21%. The effective tax rates for the nine months ended September 30, 2018 and October 1, 2017 were 21.3% and 32.4%, respectively. Relative to the statutory rate, the 2018 effective tax rate was impacted by investment tax credits and favorable rate differential relating to foreign operations, partially offset by state and local taxes. The 2017 effective rate, relative to the previous U.S. statutory rate of 35%, was impacted by favorable rate differential relating to foreign operations, investment tax credits and the benefit of ASU 2016-09, which were partially offset by non-benefited costs resulting from the Margin for Growth Program. Hershey and its subsidiaries file tax returns in the U.S., including various state and local returns, and in foreign jurisdictions. We believe adequate provision has been made for all income tax uncertainties. We are routinely audited by taxing authorities in our filing jurisdictions, and a number of these audits are currently underway. We reasonably expect reductions in the liability for unrecognized tax benefits of approximately $6,751 within the next 12 months because of the expiration of statutes of limitations and settlements of tax audits. U.S. Tax Cuts and Jobs Act of 2017 The U.S. Tax Cuts and Jobs Act, enacted in December 2017, (“U.S. tax reform”) significantly changed U.S. corporate income tax laws by, among other things, reducing the U.S. corporate income tax rate to 21% starting in 2018 and creating a territorial tax system with a one-time mandatory tax on previously deferred foreign earnings of U.S. subsidiaries. Under GAAP (specifically, ASC Topic 740), the effects of changes in tax rates and laws on deferred tax balances are recognized in the period in which the new legislation is enacted. During the fourth quarter of 2017, we recorded a net provisional charge of $32,500, which included the estimated impact of the one-time mandatory tax on previously deferred earnings of non-U.S. subsidiaries offset in part by the benefit from revaluation of net deferred tax liabilities based on the new lower corporate income tax rate. The impact of the U.S. tax reform may differ from this estimate, possibly materially, due to, among other things, changes in interpretations and assumptions made, additional guidance that may be issued and actions taken by Hershey as a result of the U.S. tax reform. During the nine months ended September 30, 2018, there were no adjustments to the recorded provisional amount.

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS

9 Months Ended

Sep. 30, 2018

Retirement Benefits [Abstract]

Pension and Other Post-Retirement Benefit Plans

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS

The components of net periodic benefit cost for the third quarter were as follows:



	Pension Benefits						Other Benefits
	Three Months Ended						Three Months Ended
	September 30, 2018			October 1, 2017			September 30, 2018		October 1, 2017
Service cost	$	5,272		$	5,262		$	56	$	66
Interest cost	7,487			10,320			1,730		2,214
Expected return on plan assets	(14,455		)	(14,390		)	—		—
Amortization of prior service (credit) cost	(1,804		)	(1,455		)	209		187
Amortization of net loss	6,784			8,526			—		(1		)
Settlement loss	6,893			17,043			—		—
Total net periodic benefit cost	$	10,177		$	25,306		$	1,995	$	2,466

We made contributions of $6,350 and $6,276 to the pension plans and other benefits plans, respectively, during the third quarter of 2018. In the third quarter of 2017, we made contributions of $31,512 and $6,922 to our pension plans and other benefit plans, respectively. The contributions in 2018 and 2017 also included benefit payments from our non-qualified pension plans and post-retirement benefit plans.

The components of net periodic benefit cost for the year-to-date periods were as follows:



	Pension Benefits						Other Benefits
	Nine Months Ended						Nine Months Ended
	September 30, 2018			October 1, 2017			September 30, 2018		October 1, 2017
Service cost	$	15,931		$	15,487		$	172	$	197
Interest cost	23,153			30,819			5,194		6,626
Expected return on plan assets	(43,973		)	(43,088		)	—		—
Amortization of prior service (credit) cost	(5,402		)	(4,366		)	627		560
Amortization of net loss	20,155			25,308			—		(1		)
Settlement loss	6,893			17,043			—		—
Total net periodic benefit cost	$	16,757		$	41,203		$	5,993	$	7,382

We made contributions of $7,651 and $19,054 to the pension plans and other benefits plans, respectively, during the first nine months of 2018. During the first nine months of 2017, we made contributions of $36,497 and $21,386 to our pension plans and other benefit plans, respectively. The contributions in 2018 and 2017 also included benefit payments from our non-qualified pension plans and post-retirement benefit plans.

During the third quarter of 2018, we recognized pension settlement charges in our hourly retirement plan due to lump sum withdrawals by employees retiring or leaving the Company as a result of the Operational Optimization Program and due to lump sum distributions in our supplemental executive retirement plan. In the third quarter of 2017, we recognized pension settlement charges in the pension plan benefiting our employees in Puerto Rico as a result of lump sum distributions and the purchase of annuity contracts relating to the termination of this plan and due to lump sum distributions in our supplemental executive retirement plan. In each case, the non-cash settlement charges, which represent the acceleration of a portion of the respective plan’s accumulated unrecognized actuarial loss, were triggered when the cumulative lump sum distributions exceeded the plan's anticipated annual service and interest costs. In connection with the third quarter 2018 settlements, the related plan assets and liabilities were remeasured using a discount rate as of the remeasurement date that was 72 basis points higher than the rate as of December 31, 2017 and an expected rate of return on plan assets of 5.8%.

STOCK COMPENSATION PLANS

9 Months Ended

Sep. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Compensation Plans

STOCK COMPENSATION PLANS

We have various stock-based compensation programs under which awards, including stock options, performance stock units (“PSUs”) and performance stock, stock appreciation rights, restricted stock units (“RSUs”) and restricted stock may be granted to employees, non-employee directors and certain service providers upon whom the successful conduct of our business is dependent. These programs and the accounting treatment related thereto are described in Note 10 to the Consolidated Financial Statements included in our 2017 Annual Report on Form 10-K.

For the periods presented, compensation expense for all types of stock-based compensation programs and the related income tax benefit recognized were as follows:



	Three Months Ended				Nine Months Ended
	September 30, 2018		October 1, 2017		September 30, 2018		October 1, 2017
Pre-tax compensation expense	$	12,122	$	13,409	$	35,668	$	37,966
Related income tax benefit	2,808		4,076		7,776		11,124

Compensation costs for stock compensation plans are primarily included in selling, marketing and administrative expense. As of September 30, 2018, total stock-based compensation cost related to non-vested awards not yet recognized was $68,498 and the weighted-average period over which this amount is expected to be recognized was approximately 2.1 years.

Stock Options

A summary of activity relating to grants of stock options for the period ended September 30, 2018 is as follows:



Stock Options	Shares		Weighted-Average Exercise Price (per share)	Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding as of December 31, 2017	5,921,062		$89.06	5.8 years
Granted	927,775		$99.86
Exercised	(680,028	)	$62.25
Forfeited	(311,438	)	$102.16
Outstanding as of September 30, 2018	5,857,371		$93.18	5.7 years	$	63,665
Options exercisable as of September 30, 2018	3,907,324		$89.41	4.3 years	$	57,198

The weighted-average fair value of options granted was $15.57 and $15.77 per share for the periods ended September 30, 2018 and October 1, 2017, respectively. The fair value was estimated on the date of grant using a Black-Scholes option-pricing model and the following weighted-average assumptions:



	Nine Months Ended
	September 30, 2018		October 1, 2017
Dividend yields	2.3	%	2.4	%
Expected volatility	16.6	%	17.2	%
Risk-free interest rates	2.8	%	2.2	%
Expected term in years	6.6		6.8

The total intrinsic value of options exercised was $26,006 and $38,845 for the periods ended September 30, 2018 and October 1, 2017, respectively.

Performance Stock Units and Restricted Stock Units

A summary of activity relating to grants of PSUs and RSUs for the period ended September 30, 2018 is as follows:



Performance Stock Units and Restricted Stock Units	Number of units		Weighted-average grant date fair value for equity awards (per unit)
Outstanding as of December 31, 2017	923,364		$103.11
Granted	435,096		$97.74
Performance assumption change (1)	(68,625	)	$102.24
Vested	(225,213	)	$105.33
Forfeited	(101,170	)	$103.55
Outstanding as of September 30, 2018	963,452		$101.41


(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.



	Nine Months Ended
	September 30, 2018			October 1, 2017
Units granted	435,096			441,634
Weighted-average fair value at date of grant	$	97.74		$	111.00
Monte Carlo simulation assumptions:
Estimated values	$	29.17		$	46.85
Dividend yields	2.6		%	2.3		%
Expected volatility	20.4		%	20.4		%

The fair value of shares vested totaled $22,093 and $26,097 for the periods ended September 30, 2018 and October 1, 2017, respectively.

Deferred PSUs, deferred RSUs and deferred stock units representing directors’ fees totaled 308,369 units as of September 30, 2018. Each unit is equivalent to one share of the Company’s Common Stock.

SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

Our organizational structure is designed to ensure continued focus on North America, coupled with an emphasis on profitable growth in our focus international markets. Our business is organized around geographic regions, which enables us to build processes for repeatable success in our global markets. As a result, we have defined our operating segments on a geographic basis, as this aligns with how our Chief Operating Decision Maker (“CODM”) manages our business, including resource allocation and performance assessment. Our North America business, which generates approximately 89% of our consolidated revenue, is our only reportable segment. None of our other operating segments meet the quantitative thresholds to qualify as reportable segments; therefore, these operating segments are combined and disclosed below as International and Other.


•	North America - This segment is responsible for our traditional chocolate and non-chocolate confectionery market position, as well as our grocery and growing snacks market positions, in the United States and Canada. This includes developing and growing our business in chocolate and non-chocolate confectionery, pantry, food service and other snacking product lines.

•

International and Other - International and Other is a combination of all other operating segments that are not individually material, including those geographic regions where we operate outside of North America. We currently have operations and manufacture product in 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 to the Consolidated Financial Statements included in our 2017 Annual Report on Form 10-K.

As discussed in Note 5, derivatives used to manage commodity price risk are not designated for hedge accounting treatment. These derivatives are recognized at fair market value with the resulting realized and unrealized losses recognized in unallocated derivative (gains) losses outside of the reporting segment results until the related inventory is sold, at which time the related gains and losses are reallocated to segment income. This enables us to align the derivative gains and losses with the underlying economic exposure being hedged and thereby eliminate the mark-to-market volatility within our reported segment income.

Certain manufacturing, warehousing, distribution and other activities supporting our global operations are integrated to maximize efficiency and productivity. As a result, assets and capital expenditures are not managed on a segment basis and are not included in the information reported to the CODM for the purpose of evaluating performance or allocating resources. We disclose depreciation and amortization that is generated by segment-specific assets, since these amounts are included within the measure of segment income reported to the CODM.

Our segment net sales and earnings were as follows:



	Three Months Ended					Nine Months Ended
	September 30, 2018		October 1, 2017			September 30, 2018			October 1, 2017
Net sales:
North America	$	1,843,511	$	1,792,377		$	5,155,151		$	4,946,537
International and Other	236,082		240,744			648,016			629,253
Total	$	2,079,593	$	2,033,121		$	5,803,167		$	5,575,790

Segment income:
North America	$	556,060	$	554,247		$	1,534,345		$	1,567,054
International and Other	31,072		16,400			65,379			26,491
Total segment income (1)	587,132		570,647			1,599,724			1,593,545
Unallocated corporate expense (2)	116,474		122,880			361,447			363,116
Unallocated mark-to-market losses (gains) on commodity derivatives	47,617		(21,954		)	(69,464		)	(27,486		)
Long-lived asset impairment charges	1,649		—			28,817			208,712
Costs associated with business realignment activities	11,423		8,257			42,670			69,699
Acquisition-related costs	3,706		—			36,413			311
Gain on sale of licensing rights	—		—			(2,658		)	—
Operating profit	406,263		461,464			1,202,499			979,193
Interest expense, net	36,916		24,589			101,207			72,456
Other (income) expense, net	12,493		36,074			35,201			56,458
Income before income taxes	$	356,854	$	400,801		$	1,066,091		$	850,279


(1)	Segment income for the three and nine months ended October 1, 2017 has been revised to conform to the current definition of segment income, which has been updated for the exclusion of certain pension-related costs.

(2)

Includes centrally-managed (a) corporate functional costs relating to legal, treasury, finance, and human resources, (b) expenses associated with the oversight and administration of our global operations, including warehousing, distribution and manufacturing, information systems and global shared services, (c) non-cash stock-based compensation expense, and (d) other gains or losses that are not integral to segment performance.

Activity within the unallocated mark-to-market losses (gains) on commodity derivatives is as follows:



	Three Months Ended					Nine Months Ended
	September 30, 2018		October 1, 2017			September 30, 2018			October 1, 2017
Net losses on mark-to-market valuation of commodity derivative positions recognized in income	$	71,088	$	2,445		$	4,315		$	40,500
Net losses on commodity derivative positions reclassified from unallocated to segment income	23,471		24,399			73,779			67,986
Net losses (gains) on mark-to-market valuation of commodity derivative positions recognized in unallocated derivative gains	$	47,617	$	(21,954	)	$	(69,464	)	$	(27,486	)

As of September 30, 2018, the cumulative amount of mark-to-market losses on commodity derivatives that have been recognized in our consolidated cost of sales and not yet allocated to reportable segments was $58,482. Based on our forecasts of the timing of the recognition of the underlying hedged items, we expect to reclassify net pretax losses on commodity derivatives of $25,418 to segment operating results in the next twelve months.

Depreciation and amortization expense included within segment income presented above is as follows:



	Three Months Ended				Nine Months Ended
	September 30, 2018		October 1, 2017		September 30, 2018		October 1, 2017
North America	$	52,066	$	42,544	$	152,237	$	125,532
International and Other	7,260		9,397		28,090		32,110
Corporate (1)	15,481		10,293		45,476		36,671
Total	$	74,807	$	62,234	$	225,803	$	194,313


(1)	Corporate includes non-cash asset-related accelerated depreciation and amortization related to business realignment activities, as discussed in Note 8. Such amounts are not included within our measure of segment income.

TREASURY STOCK ACTIVITY TREASURY STOCK ACTIVITY

9 Months Ended

Sep. 30, 2018

Equity [Abstract]

Treasury Stock Activity

TREASURY STOCK ACTIVITY

A summary of our treasury stock activity is as follows:



	Nine Months Ended September 30, 2018
	Shares		Dollars
			In thousands
Shares repurchased in the open market under pre-approved share repurchase programs	1,406,093		$	140,000
Shares repurchased to replace Treasury Stock issued for stock options and incentive compensation	615,719		59,665
Total share repurchases	2,021,812		199,665
Shares issued for stock options and incentive compensation	(881,569	)	$	(36,681	)
Net change	1,140,243		$	162,984

The $500,000 share repurchase program approved by our Board of Directors in January 2016 was completed in the first quarter of 2018. In October 2017, our Board of Directors approved an additional $100,000 share repurchase authorization, to commence after the existing 2016 authorization was completed. As of September 30, 2018, $60,000 remained available for repurchases of our Common Stock under this program. In July 2018, our Board of Directors approved an additional $500,000 share repurchase authorization. This program is to commence after the existing 2017 authorization is completed and is to be utilized at management's discretion. We are authorized to purchase our outstanding shares in open market and privately negotiated transactions. The program has no expiration date and acquired shares of Common Stock will be held as treasury shares. Purchases under approved share repurchase authorizations are in addition to our practice of buying back shares sufficient to offset those issued under incentive compensation plans.

NONCONTROLLING INTEREST NONCONTROLLING INTEREST (Notes)

9 Months Ended

Sep. 30, 2018

Equity [Abstract]

Noncontrolling Interest

NONCONTROLLING INTEREST

We currently own a 50% controlling interest in Lotte Shanghai Foods Co., Ltd. (“LSFC”), a joint venture established in 2007 in China for the purpose of manufacturing and selling product to the venture partners.

A roll-forward showing the 2018 activity relating to the noncontrolling interest follows:



	Noncontrolling Interest
Balance, December 31, 2017	$	16,227
Net loss attributable to noncontrolling interest	(1,320		)
Other comprehensive loss - foreign currency translation adjustments	(537		)
Balance, September 30, 2018	$	14,370

EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

We compute basic earnings per share for Common Stock and Class B common stock using the two-class method. The Class B common stock is convertible into Common Stock on a share-for-share basis at any time. The computation of diluted earnings per share for Common Stock assumes the conversion of Class B common stock using the if-converted method, while the diluted earnings per share of Class B common stock does not assume the conversion of those shares.

We compute basic and diluted earnings per share based on the weighted-average number of shares of Common Stock and Class B common stock outstanding as follows:



	Three Months Ended
	September 30, 2018					October 1, 2017
	Common Stock		Class B Common Stock			Common Stock		Class B Common Stock
Basic earnings per share:
Numerator:
Allocation of distributed earnings (cash dividends paid)	$	107,532	$	39,767		$	99,588	$	36,129
Allocation of undistributed earnings	85,019		31,395			100,892		36,694
Total earnings—basic	$	192,551	$	71,162		$	200,480	$	72,823

Denominator (shares in thousands):
Total weighted-average shares—basic	149,155		60,620			151,418		60,620

Earnings Per Share—basic	$	1.29	$	1.17		$	1.32	$	1.20

Diluted earnings per share:
Numerator:
Allocation of total earnings used in basic computation	$	192,551	$	71,162		$	200,480	$	72,823
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock	71,162		—			72,823		—
Reallocation of undistributed earnings	—		(139		)	—		(239		)
Total earnings—diluted	$	263,713	$	71,023		$	273,303	$	72,584

Denominator (shares in thousands):
Number of shares used in basic computation	149,155		60,620			151,418		60,620
Weighted-average effect of dilutive securities:
Conversion of Class B common stock to Common shares outstanding	60,620		—			60,620		—
Employee stock options	589		—			1,002		—
Performance and restricted stock units	317		—			352		—
Total weighted-average shares—diluted	210,681		60,620			213,392		60,620

Earnings Per Share—diluted	$	1.25	$	1.17		$	1.28	$	1.20

The earnings per share calculations for the three months ended September 30, 2018 and October 1, 2017 excluded 4,084 and 2,374 stock options (in thousands), respectively, that would have been antidilutive.



	Nine Months Ended
	September 30, 2018					October 1, 2017
	Common Stock		Class B Common Stock			Common Stock		Class B Common Stock
Basic earnings per share:
Numerator:
Allocation of distributed earnings (cash dividends paid)	$	303,152	$	112,026		$	287,580	$	104,265
Allocation of undistributed earnings	310,942		114,651			154,128		55,875
Total earnings—basic	$	614,094	$	226,677		$	441,708	$	160,140

Denominator (shares in thousands):
Total weighted-average shares—basic	149,371		60,620			152,004		60,620

Earnings Per Share—basic	$	4.11	$	3.74		$	2.91	$	2.64

Diluted earnings per share:
Numerator:
Allocation of total earnings used in basic computation	$	614,094	$	226,677		$	441,708	$	160,140
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock	226,677		—			160,140		—
Reallocation of undistributed earnings	—		(547		)	—		(401		)
Total earnings—diluted	$	840,771	$	226,130		$	601,848	$	159,739

Denominator (shares in thousands):
Number of shares used in basic computation	149,371		60,620			152,004		60,620
Weighted-average effect of dilutive securities:
Conversion of Class B common stock to Common shares outstanding	60,620		—			60,620		—
Employee stock options	664		—			1,165		—
Performance and restricted stock units	315		—			334		—
Total weighted-average shares—diluted	210,970		60,620			214,123		60,620

Earnings Per Share—diluted	$	3.99	$	3.73		$	2.81	$	2.64

The earnings per share calculations for the nine months ended September 30, 2018 and October 1, 2017 excluded 4,196 and 2,374 stock options (in thousands), respectively, that would have been antidilutive.

OTHER (INCOME) EXPENSE, NET OTHER (INCOME) EXPENSE, NET

9 Months Ended

Sep. 30, 2018

Other Income and Expenses [Abstract]

Other (Income) Expense, Net

OTHER (INCOME) EXPENSE, NET

Other (income) expense, net reports certain gains and losses associated with activities not directly related to our core operations. A summary of the components of other (income) expense, net is as follows:



	Three Months Ended					Nine Months Ended
	September 30, 2018		October 1, 2017			September 30, 2018		October 1, 2017
Write-down of equity investments in partnerships qualifying for tax credits	$	3,303	$	13,736		$	23,067	$	23,999
Non-service cost components of net periodic benefit cost relating to pension and other post-retirement benefit plans	6,843		22,444			6,647		32,901
Other (income) expense, net	2,347		(106		)	5,487		(442		)
Total	$	12,493	$	36,074		$	35,201	$	56,458

SUPPLEMENTAL BALANCE SHEET INFORMATION

9 Months Ended

Sep. 30, 2018

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:



	September 30, 2018			December 31, 2017
Inventories:
Raw materials	$	241,611		$	224,940
Goods in process	108,540			93,627
Finished goods	700,309			614,945
Inventories at FIFO	1,050,460			933,512
Adjustment to LIFO	(169,787		)	(180,676		)
Total inventories	$	880,673		$	752,836

Prepaid expenses and other:
Prepaid expenses	$	45,141		$	128,735
Assets held for sale	43,829			21,124
Other current assets	185,693			130,774
Total prepaid expenses and other	$	274,663		$	280,633

Property, plant and equipment:
Land	$	103,436		$	108,300
Buildings	1,230,615			1,214,158
Machinery and equipment	2,989,276			2,925,353
Construction in progress	260,595			212,912
Property, plant and equipment, gross	4,583,922			4,460,723
Accumulated depreciation	(2,491,023		)	(2,354,026		)
Property, plant and equipment, net	$	2,092,899		$	2,106,697

Other assets:
Capitalized software, net	$	121,246		$	104,881
Other non-current assets	140,002			146,998
Total other assets	$	261,248		$	251,879

Accrued liabilities:
Payroll, compensation and benefits	$	164,986		$	190,863
Advertising and promotion	294,638			305,107
Other	204,350			180,164
Total accrued liabilities	$	663,974		$	676,134

Other long-term liabilities:
Post-retirement benefits liabilities	$	208,114		$	215,320
Pension benefits liabilities	38,189			39,410
Other	182,929			184,209
Total other long-term liabilities	$	429,232		$	438,939

Accumulated other comprehensive loss:
Foreign currency translation adjustments	$	(84,509	)	$	(91,837	)
Pension and post-retirement benefit plans, net of tax	(194,793		)	(169,526		)
Cash flow hedges, net of tax	(56,652		)	(52,383		)
Total accumulated other comprehensive loss	$	(335,954	)	$	(313,746	)

SUBSEQUENT EVENT SUBSEQUENT EVENT (Notes)	9 Months Ended
SUBSEQUENT EVENT SUBSEQUENT EVENT (Notes)	Sep. 30, 2018
Subsequent Events [Abstract]
Subsequent Event	SUBSEQUENT EVENT Business Acquisition 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. Pirate Brands is expected to generate annualized net sales of approximately $90,000. The purchase consideration for Pirate Brands totaled approximately $420,000. Funding for the acquisition consisted of short-term borrowings and cash on hand. We are currently in the process of determining the allocation of the purchase price, which we expect to predominantly be allocated to identifiable intangible assets and goodwill. Goodwill is being 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 utilizing the Company's resources to increase the number of distribution locations and customers.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

9 Months Ended

Sep. 30, 2018

Accounting Policies [Abstract]

Basis of Presentation

Revenue Recognition, Policy

Revenue Recognition

Recent Accounting Pronouncements

Recently Adopted Accounting Pronouncements



	Three Months Ended		Nine Months Ended
	October 1, 2017
Reclassified from:
Cost of sales	$	2,714	$	8,143
Selling, marketing and administrative expense	19,730		24,758
Reclassified to Other (income) expense, net	$	22,444	$	32,901

The adoption of this ASU had no impact on our consolidated balance sheets or statements of cash flows.

Recently Issued Accounting Pronouncements Not Yet Adopted

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.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2018

Accounting Policies [Abstract]

Schedule of New Accounting Pronouncements Changes

As a result, the following amounts were reclassified for the three and nine months ended October 1, 2017 to correspond to the current year presentation:



	Three Months Ended		Nine Months Ended
	October 1, 2017
Reclassified from:
Cost of sales	$	2,714	$	8,143
Selling, marketing and administrative expense	19,730		24,758
Reclassified to Other (income) expense, net	$	22,444	$	32,901

BUSINESS ACQUISITION (Tables)

9 Months Ended

Sep. 30, 2018

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	$	41,152
Other current assets	35,509
Plant, property and equipment, net	71,093
Goodwill	939,388
Other intangible assets	682,000
Other non-current assets	1,049
Accounts payable	(32,394		)
Accrued liabilities	(109,565		)
Current debt	(610,836		)
Other current liabilities	(2,931		)
Non-current deferred income taxes	(93,859		)
Non-current liabilities	(5,149		)
Net assets acquired	$	915,457

GOODWILL AND INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 30, 2018

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 nine months ended September 30, 2018 are as follows:



	North America			International and Other			Total
Balance at December 31, 2017	$	799,929		$	21,132		$	821,061
Acquired during the period (see Note 2)	939,388			—			939,388
Purchase price allocation adjustments (see Note 2)	26,865			—			26,865
Divested during the period (see Note 7)	(98,379		)	—			(98,379		)
Foreign currency translation and other	(9,150		)	(2,684		)	(11,834		)
Balance at September 30, 2018	$	1,658,653		$	18,448		$	1,677,101

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:



	September 30, 2018					December 31, 2017
	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Intangible assets subject to amortization:
Trademarks	$	909,624	$	(55,266	)	$	277,473	$	(37,510	)
Customer-related	157,168		(39,028		)	128,182		(34,659		)
Patents	16,753		(16,109		)	17,009		(15,975		)
Total	1,083,545		(110,403		)	422,664		(88,144		)

Intangible assets not subject to amortization:
Trademarks	34,909					34,636
Total other intangible assets	$	1,008,051				$	369,156

SHORT AND LONG-TERM DEBT (Tables)

9 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Long-term debt consisted of the following:



	September 30, 2018			December 31, 2017
1.60% Notes due 2018 (1)	$	—		$	300,000
2.90% Notes due 2020 (2)	350,000			—
4.125% Notes due 2020	350,000			350,000
3.10% Notes due 2021 (2)	350,000			—
8.8% Debentures due 2021	84,715			84,715
3.375% Notes due 2023 (2)	500,000			—
2.625% Notes due 2023	250,000			250,000
3.20% Notes due 2025	300,000			300,000
2.30% Notes due 2026	500,000			500,000
7.2% Debentures due 2027	193,639			193,639
3.375% Notes due 2046	300,000			300,000
Capital lease obligations	98,417			99,194
Net impact of interest rate swaps, debt issuance costs and unamortized debt discounts	(19,777		)	(16,427		)
Total long-term debt	3,256,994			2,361,121
Less—current portion	3,115			300,098
Long-term portion	$	3,253,879		$	2,061,023


(1)	In August 2018, we repaid $300,000 of 1.60% Notes due in 2018 upon their maturity.


(2)	In May 2018, we issued $350,000 of 2.90% Notes due in 2020, $350,000 of 3.10% Notes due in 2021 and $500,000 of 3.375% Notes due in 2023 (the "Notes"). Proceeds from the issuance of the Notes, net of discounts and issuance costs, totaled $1,193,827. The Notes were issued under a shelf registration statement on Form S-3 filed in June 2015 that registered an indeterminate amount of debt securities.

Schedule of Net Interest Expense

Net interest expense consists of the following:



	Three Months Ended						Nine Months Ended
	September 30, 2018			October 1, 2017			September 30, 2018			October 1, 2017
Interest expense	$	39,978		$	25,955		$	110,929		$	76,208
Capitalized interest	(1,243		)	(1,033		)	(3,876		)	(2,892		)
Interest expense	38,735			24,922			107,053			73,316
Interest income	(1,819		)	(333		)	(5,846		)	(860		)
Interest expense, net	$	36,916		$	24,589		$	101,207		$	72,456

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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+ Details

DERIVATIVE INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2018

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 September 30, 2018 and December 31, 2017:



	September 30, 2018				December 31, 2017
	Assets (1)		Liabilities (1)		Assets (1)		Liabilities (1)
Derivatives designated as cash flow hedging instruments:
Foreign exchange contracts	$	2,915	$	250	$	423	$	1,427

Derivatives designated as fair value hedging instruments:
Interest rate swap agreements	—		4,001		—		1,897

Derivatives not designated as hedging instruments:
Commodities futures and options (2)	51		16,684		390		3,054
Deferred compensation derivatives	2,151		—		1,581		—
Foreign exchange contracts	1,658		508		31		—
	3,860		17,192		2,002		3,054
Total	$	6,775	$	21,443	$	2,425	$	6,378


(1)	Derivatives assets are classified on our balance sheet within prepaid expenses and other as well as other assets. Derivative liabilities are classified on our balance sheet within accrued liabilities and other long-term liabilities.

(2)

Schedule of the Effect of Derivative Instruments on the Consolidated Statements of Income

The effect of derivative instruments on the Consolidated Statements of Income for the three months ended September 30, 2018 and October 1, 2017 was as follows:



	Non-designated Hedges						Cash Flow Hedges
	Non-designated Hedges						Cash Flow Hedges
	Gains (losses) recognized in income (a)						Gains (losses) recognized in other comprehensive income (“OCI”) (effective portion)						Gains (losses) reclassified from accumulated OCI into income (effective portion) (b)

	2018			2017			2018			2017			2018			2017
Commodities futures and options	$	(71,088	)	$	(2,445	)	$	—		$	—		$	—		$	(488	)
Foreign exchange contracts	1,595			11			(1,484		)	(1,339		)	4,605			869
Interest rate swap agreements	—			—			—			—			(2,344		)	(2,343		)
Deferred compensation derivatives	1,345			349			—			—			—			—
Total	$	(68,148	)	$	(2,085	)	$	(1,484	)	$	(1,339	)	$	2,261		$	(1,962	)

The effect of derivative instruments on the Consolidated Statements of Income for the nine months ended September 30, 2018 and October 1, 2017 was as follows:



	Non-designated Hedges						Cash Flow Hedges
	Non-designated Hedges						Cash Flow Hedges
	Gains (losses) recognized in income (a)						Gains (losses) recognized in other comprehensive income (“OCI”) (effective portion)					Gains (losses) reclassified from accumulated OCI into income (effective portion) (b)

	2018			2017			2018		2017			2018			2017
Commodities futures and options	$	(4,315	)	$	(40,500	)	$	—	$	—		$	—		$	(1,325	)
Foreign exchange contracts	1,580			(40		)	6,320		(3,545		)	4,648			1,087
Interest rate swap agreements	—			—			—		—			(7,110		)	(7,136		)
Deferred compensation derivatives	2,151			994			—		—			—			—
Total	$	(584	)	$	(39,546	)	$	6,320	$	(3,545	)	$	(2,462	)	$	(7,374	)


(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)

FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2018

FAIR VALUE MEASUREMENTS [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value

The following table presents assets and liabilities that were measured at fair value in the Consolidated Balance Sheet on a recurring basis as of September 30, 2018 and December 31, 2017:



	Assets (Liabilities)
	Level 1		Level 2		Level 3		Total
September 30, 2018:
Derivative Instruments:
Assets:
Foreign exchange contracts (1)	$	—	$	4,573	$	—	$	4,573
Deferred compensation derivatives (3)	—		2,151		—		2,151
Commodities futures and options (4)	51		—		—		51
Liabilities:
Foreign exchange contracts (1)	—		758		—		758
Interest rate swap agreements (2)	—		4,001		—		4,001
Commodities futures and options (4)	16,684		—		—		16,684
December 31, 2017:
Assets:
Foreign exchange contracts (1)	$	—	$	454	$	—	$	454
Deferred compensation derivatives (3)	—		1,581		—		1,581
Commodities futures and options (4)	390		—		—		390
Liabilities:
Foreign exchange contracts (1)	—		1,427		—		1,427
Interest rate swap agreements (2)	—		1,897		—		1,897
Commodities futures and options (4)	3,054		—		—		3,054

(1)


(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
	September 30, 2018		December 31, 2017		September 30, 2018		December 31, 2017
Current portion of long-term debt	$	3,115	$	299,430	$	3,115	$	300,098
Long-term debt	3,221,093		2,113,296		3,253,879		2,061,023
Total	$	3,224,208	$	2,412,726	$	3,256,994	$	2,361,121

ASSETS HELD FOR SALE ASSETS HELD FOR SALE (Tables)

9 Months Ended

Sep. 30, 2018

Discontinued Operations and Disposal Groups [Abstract]

Assets Held for Sale

The amounts classified as assets held for sale (included in prepaid expenses and other assets) at September 30, 2018 include the following:



Property, plant and equipment, net	$	40,551
Other assets	3,278
	$	43,829

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 205
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-Section 45
-Paragraph 11
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+ Details

BUSINESS REALIGNMENT ACTIVITIES (Tables)

9 Months Ended

Sep. 30, 2018

Restructuring and Related Activities [Abstract]

Schedule of Business Realignment Activity

Costs associated with business realignment activities are classified in our Consolidated Statements of Income for the three and nine months ended September 30, 2018 and October 1, 2017 as follows:



	Three Months Ended				Nine Months Ended
	September 30, 2018		October 1, 2017		September 30, 2018		October 1, 2017
Cost of sales	$	4,565	$	213	$	14,101	$	6,475
Selling, marketing and administrative expense	4,598		4,024		17,105		13,206
Business realignment costs	2,260		4,020		11,464		50,018
Costs associated with business realignment activities	$	11,423	$	8,257	$	42,670	$	69,699

Costs recorded during the three and nine months ended September 30, 2018 and October 1, 2017 related to these activities are as follows:



	Three Months Ended					Nine Months Ended
	September 30, 2018			October 1, 2017		September 30, 2018			October 1, 2017
Margin for Growth Program:
Severance	$	5,573		$	2,876	$	12,635		$	33,331
Accelerated depreciation	4,786			—		12,030			6,873
Other program costs	6,549			5,013		21,754			16,216
Operational Optimization Program:
Severance	—			—		—			13,828
Gain on sale of facilities	(6,562		)	—		(6,562		)	—
Other program costs	1,077			368		2,813			(549		)
Total	$	11,423		$	8,257	$	42,670		$	69,699

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 nine months ended September 30, 2018:



	Total
Liability balance at December 31, 2017	$	38,992
2018 business realignment charges (1)	23,087
Cash payments	(43,884		)
Other, net	669
Liability balance at September 30, 2018 (reported within accrued and other long-term liabilities)	$	18,864

(1)

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS (Tables)

9 Months Ended

Sep. 30, 2018

Retirement Benefits [Abstract]

Schedule of Components of Net Periodic Benefit Cost

The components of net periodic benefit cost for the third quarter were as follows:



	Pension Benefits						Other Benefits
	Three Months Ended						Three Months Ended
	September 30, 2018			October 1, 2017			September 30, 2018		October 1, 2017
Service cost	$	5,272		$	5,262		$	56	$	66
Interest cost	7,487			10,320			1,730		2,214
Expected return on plan assets	(14,455		)	(14,390		)	—		—
Amortization of prior service (credit) cost	(1,804		)	(1,455		)	209		187
Amortization of net loss	6,784			8,526			—		(1		)
Settlement loss	6,893			17,043			—		—
Total net periodic benefit cost	$	10,177		$	25,306		$	1,995	$	2,466

The components of net periodic benefit cost for the year-to-date periods were as follows:



	Pension Benefits						Other Benefits
	Nine Months Ended						Nine Months Ended
	September 30, 2018			October 1, 2017			September 30, 2018		October 1, 2017
Service cost	$	15,931		$	15,487		$	172	$	197
Interest cost	23,153			30,819			5,194		6,626
Expected return on plan assets	(43,973		)	(43,088		)	—		—
Amortization of prior service (credit) cost	(5,402		)	(4,366		)	627		560
Amortization of net loss	20,155			25,308			—		(1		)
Settlement loss	6,893			17,043			—		—
Total net periodic benefit cost	$	16,757		$	41,203		$	5,993	$	7,382

STOCK COMPENSATION PLANS (Tables)

9 Months Ended

Sep. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Stock Compensation Costs

For the periods presented, compensation expense for all types of stock-based compensation programs and the related income tax benefit recognized were as follows:



	Three Months Ended				Nine Months Ended
	September 30, 2018		October 1, 2017		September 30, 2018		October 1, 2017
Pre-tax compensation expense	$	12,122	$	13,409	$	35,668	$	37,966
Related income tax benefit	2,808		4,076		7,776		11,124

Schedule of Activity Relating to the Grants of Stock Options

A summary of activity relating to grants of stock options for the period ended September 30, 2018 is as follows:



Stock Options	Shares		Weighted-Average Exercise Price (per share)	Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding as of December 31, 2017	5,921,062		$89.06	5.8 years
Granted	927,775		$99.86
Exercised	(680,028	)	$62.25
Forfeited	(311,438	)	$102.16
Outstanding as of September 30, 2018	5,857,371		$93.18	5.7 years	$	63,665
Options exercisable as of September 30, 2018	3,907,324		$89.41	4.3 years	$	57,198

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:



	Nine Months Ended
	September 30, 2018		October 1, 2017
Dividend yields	2.3	%	2.4	%
Expected volatility	16.6	%	17.2	%
Risk-free interest rates	2.8	%	2.2	%
Expected term in years	6.6		6.8

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 September 30, 2018 is as follows:



Performance Stock Units and Restricted Stock Units	Number of units		Weighted-average grant date fair value for equity awards (per unit)
Outstanding as of December 31, 2017	923,364		$103.11
Granted	435,096		$97.74
Performance assumption change (1)	(68,625	)	$102.24
Vested	(225,213	)	$105.33
Forfeited	(101,170	)	$103.55
Outstanding as of September 30, 2018	963,452		$101.41


(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



	Nine Months Ended
	September 30, 2018			October 1, 2017
Units granted	435,096			441,634
Weighted-average fair value at date of grant	$	97.74		$	111.00
Monte Carlo simulation assumptions:
Estimated values	$	29.17		$	46.85
Dividend yields	2.6		%	2.3		%
Expected volatility	20.4		%	20.4		%

SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

Schedule of Net Sales and Earnings by Segment

Our segment net sales and earnings were as follows:



	Three Months Ended					Nine Months Ended
	September 30, 2018		October 1, 2017			September 30, 2018			October 1, 2017
Net sales:
North America	$	1,843,511	$	1,792,377		$	5,155,151		$	4,946,537
International and Other	236,082		240,744			648,016			629,253
Total	$	2,079,593	$	2,033,121		$	5,803,167		$	5,575,790

Segment income:
North America	$	556,060	$	554,247		$	1,534,345		$	1,567,054
International and Other	31,072		16,400			65,379			26,491
Total segment income (1)	587,132		570,647			1,599,724			1,593,545
Unallocated corporate expense (2)	116,474		122,880			361,447			363,116
Unallocated mark-to-market losses (gains) on commodity derivatives	47,617		(21,954		)	(69,464		)	(27,486		)
Long-lived asset impairment charges	1,649		—			28,817			208,712
Costs associated with business realignment activities	11,423		8,257			42,670			69,699
Acquisition-related costs	3,706		—			36,413			311
Gain on sale of licensing rights	—		—			(2,658		)	—
Operating profit	406,263		461,464			1,202,499			979,193
Interest expense, net	36,916		24,589			101,207			72,456
Other (income) expense, net	12,493		36,074			35,201			56,458
Income before income taxes	$	356,854	$	400,801		$	1,066,091		$	850,279


(1)	Segment income for the three and nine months ended October 1, 2017 has been revised to conform to the current definition of segment income, which has been updated for the exclusion of certain pension-related costs.

(2)

Schedule of Unallocated Mark-to-Market (Gains) Losses on Commodity Derivatives

Activity within the unallocated mark-to-market losses (gains) on commodity derivatives is as follows:



	Three Months Ended					Nine Months Ended
	September 30, 2018		October 1, 2017			September 30, 2018			October 1, 2017
Net losses on mark-to-market valuation of commodity derivative positions recognized in income	$	71,088	$	2,445		$	4,315		$	40,500
Net losses on commodity derivative positions reclassified from unallocated to segment income	23,471		24,399			73,779			67,986
Net losses (gains) on mark-to-market valuation of commodity derivative positions recognized in unallocated derivative gains	$	47,617	$	(21,954	)	$	(69,464	)	$	(27,486	)

Schedule of Depreciation and Amortization Expense Included within Segment Income

Depreciation and amortization expense included within segment income presented above is as follows:



	Three Months Ended				Nine Months Ended
	September 30, 2018		October 1, 2017		September 30, 2018		October 1, 2017
North America	$	52,066	$	42,544	$	152,237	$	125,532
International and Other	7,260		9,397		28,090		32,110
Corporate (1)	15,481		10,293		45,476		36,671
Total	$	74,807	$	62,234	$	225,803	$	194,313


(1)	Corporate includes non-cash asset-related accelerated depreciation and amortization related to business realignment activities, as discussed in Note 8. Such amounts are not included within our measure of segment income.

EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings Per Share

We compute basic and diluted earnings per share based on the weighted-average number of shares of Common Stock and Class B common stock outstanding as follows:



	Three Months Ended
	September 30, 2018					October 1, 2017
	Common Stock		Class B Common Stock			Common Stock		Class B Common Stock
Basic earnings per share:
Numerator:
Allocation of distributed earnings (cash dividends paid)	$	107,532	$	39,767		$	99,588	$	36,129
Allocation of undistributed earnings	85,019		31,395			100,892		36,694
Total earnings—basic	$	192,551	$	71,162		$	200,480	$	72,823

Denominator (shares in thousands):
Total weighted-average shares—basic	149,155		60,620			151,418		60,620

Earnings Per Share—basic	$	1.29	$	1.17		$	1.32	$	1.20

Diluted earnings per share:
Numerator:
Allocation of total earnings used in basic computation	$	192,551	$	71,162		$	200,480	$	72,823
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock	71,162		—			72,823		—
Reallocation of undistributed earnings	—		(139		)	—		(239		)
Total earnings—diluted	$	263,713	$	71,023		$	273,303	$	72,584

Denominator (shares in thousands):
Number of shares used in basic computation	149,155		60,620			151,418		60,620
Weighted-average effect of dilutive securities:
Conversion of Class B common stock to Common shares outstanding	60,620		—			60,620		—
Employee stock options	589		—			1,002		—
Performance and restricted stock units	317		—			352		—
Total weighted-average shares—diluted	210,681		60,620			213,392		60,620

Earnings Per Share—diluted	$	1.25	$	1.17		$	1.28	$	1.20



	Nine Months Ended
	September 30, 2018					October 1, 2017
	Common Stock		Class B Common Stock			Common Stock		Class B Common Stock
Basic earnings per share:
Numerator:
Allocation of distributed earnings (cash dividends paid)	$	303,152	$	112,026		$	287,580	$	104,265
Allocation of undistributed earnings	310,942		114,651			154,128		55,875
Total earnings—basic	$	614,094	$	226,677		$	441,708	$	160,140

Denominator (shares in thousands):
Total weighted-average shares—basic	149,371		60,620			152,004		60,620

Earnings Per Share—basic	$	4.11	$	3.74		$	2.91	$	2.64

Diluted earnings per share:
Numerator:
Allocation of total earnings used in basic computation	$	614,094	$	226,677		$	441,708	$	160,140
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock	226,677		—			160,140		—
Reallocation of undistributed earnings	—		(547		)	—		(401		)
Total earnings—diluted	$	840,771	$	226,130		$	601,848	$	159,739

Denominator (shares in thousands):
Number of shares used in basic computation	149,371		60,620			152,004		60,620
Weighted-average effect of dilutive securities:
Conversion of Class B common stock to Common shares outstanding	60,620		—			60,620		—
Employee stock options	664		—			1,165		—
Performance and restricted stock units	315		—			334		—
Total weighted-average shares—diluted	210,970		60,620			214,123		60,620

Earnings Per Share—diluted	$	3.99	$	3.73		$	2.81	$	2.64

OTHER (INCOME) EXPENSE, NET OTHER (INCOME) EXPENSE, NET (Tables)

9 Months Ended

Sep. 30, 2018

Other Income and Expenses [Abstract]

Schedule of Other (Income) Expense, Net

A summary of the components of other (income) expense, net is as follows:



	Three Months Ended					Nine Months Ended
	September 30, 2018		October 1, 2017			September 30, 2018		October 1, 2017
Write-down of equity investments in partnerships qualifying for tax credits	$	3,303	$	13,736		$	23,067	$	23,999
Non-service cost components of net periodic benefit cost relating to pension and other post-retirement benefit plans	6,843		22,444			6,647		32,901
Other (income) expense, net	2,347		(106		)	5,487		(442		)
Total	$	12,493	$	36,074		$	35,201	$	56,458

SUPPLEMENTAL BALANCE SHEET INFORMATION (Tables)

9 Months Ended

Sep. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Supplemental Balance Sheet Information

The components of certain Consolidated Balance Sheet accounts are as follows:



	September 30, 2018			December 31, 2017
Inventories:
Raw materials	$	241,611		$	224,940
Goods in process	108,540			93,627
Finished goods	700,309			614,945
Inventories at FIFO	1,050,460			933,512
Adjustment to LIFO	(169,787		)	(180,676		)
Total inventories	$	880,673		$	752,836

Prepaid expenses and other:
Prepaid expenses	$	45,141		$	128,735
Assets held for sale	43,829			21,124
Other current assets	185,693			130,774
Total prepaid expenses and other	$	274,663		$	280,633

Property, plant and equipment:
Land	$	103,436		$	108,300
Buildings	1,230,615			1,214,158
Machinery and equipment	2,989,276			2,925,353
Construction in progress	260,595			212,912
Property, plant and equipment, gross	4,583,922			4,460,723
Accumulated depreciation	(2,491,023		)	(2,354,026		)
Property, plant and equipment, net	$	2,092,899		$	2,106,697

Other assets:
Capitalized software, net	$	121,246		$	104,881
Other non-current assets	140,002			146,998
Total other assets	$	261,248		$	251,879

Accrued liabilities:
Payroll, compensation and benefits	$	164,986		$	190,863
Advertising and promotion	294,638			305,107
Other	204,350			180,164
Total accrued liabilities	$	663,974		$	676,134

Other long-term liabilities:
Post-retirement benefits liabilities	$	208,114		$	215,320
Pension benefits liabilities	38,189			39,410
Other	182,929			184,209
Total other long-term liabilities	$	429,232		$	438,939

Accumulated other comprehensive loss:
Foreign currency translation adjustments	$	(84,509	)	$	(91,837	)
Pension and post-retirement benefit plans, net of tax	(194,793		)	(169,526		)
Cash flow hedges, net of tax	(56,652		)	(52,383		)
Total accumulated other comprehensive loss	$	(335,954	)	$	(313,746	)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - RECENT ACCOUNTING PRONOUNCEMENTS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Oct. 01, 2017	Sep. 30, 2018	Oct. 01, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of Goods Sold	$ (1,216,100)	$ (1,090,185)	$ (3,172,194)	$ (2,957,655)
Selling, General and Administrative Expense	(453,921)	(477,452)	(1,388,793)	(1,380,212)
Other Nonoperating Income (Expense)	$ (12,493)	(36,074)	(35,201)	(56,458)
Reclassification from AOCI to Retained Earnings			$ 47,656
Accounting Standards Update 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of Goods Sold		2,714		8,143
Selling, General and Administrative Expense		19,730		24,758
Other Nonoperating Income (Expense)		$ 22,444		$ 32,901

BUSINESS ACQUISITION - AMPLIFY SNACK BRANDS, INC. NARRATIVE (Details) - USD ($) $ / shares in Units, $ in Thousands		9 Months Ended
	Jan. 31, 2018	Sep. 30, 2018
Business Acquisition [Line Items]
Equity interests received, common stock, value	$ 907,766
Purchase price allocation adjustment		$ 26,865
Amplify Snack Brands, Inc.
Business Acquisition [Line Items]
Payments to acquire businesses, gross	$ 968,781
Consideration transferred, per share of common stock	$ 12.00
Business combination, recognized identifiable assets acquired and liabilities assumed, cash and equivalents	$ 53,324
Purchase price allocation adjustment		26,865
Finite-lived trademarks, gross	648,000
Finite-lived customer relationships, gross	$ 34,000
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 ACQUISITION - AMPLIFY SNACK BRANDS, INC. ASSETS ACQUIRED AND LIABILITIES ASSUMED ALLOCATION (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Jan. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Goodwill	$ 1,677,101		$ 821,061
Amplify Snack Brands, Inc.
Business Acquisition [Line Items]
Accounts receivable		$ 41,152
Other current assets		35,509
Plant, property and equipment, net		71,093
Goodwill		939,388
Other intangible assets		682,000
Other non-current assets		1,049
Accounts payable		32,394
Accrued liabilities		109,565
Current debt		610,836
Other current liabilities		(2,931)
Non-current deferred income taxes		(93,859)
Non-current liabilities		(5,149)
Net assets acquired		$ 915,457

GOODWILL AND INTANGIBLE ASSETS - SCHEDULE OF CHANGES IN CARRYING VALUE OF GOODWILL BY REPORTABLE SEGMENT (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2018 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 821,061
Acquired during the period	939,388
Purchase price allocation adjustment	26,865
Divested during the period	(98,379)
Foreign currency translation and other	(11,834)
Goodwill, ending balance	1,677,101
Operating Segments \| North America
Goodwill [Roll Forward]
Goodwill, beginning balance	799,929
Acquired during the period	939,388
Purchase price allocation adjustment	26,865
Divested during the period	(98,379)
Foreign currency translation and other	(9,150)
Goodwill, ending balance	1,658,653
Operating Segments \| International and Other
Goodwill [Roll Forward]
Goodwill, beginning balance	21,132
Acquired during the period	0
Purchase price allocation adjustment	0
Divested during the period	0
Foreign currency translation and other	(2,684)
Goodwill, ending balance	$ 18,448

GOODWILL AND INTANGIBLE ASSETS - SCHEDULE OF GROSS CARRYING AMOUNT AND ACCUMULATED AMORTIZATION FOR EACH MAJOR CLASS OF INTANGIBLE ASSET (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 1,083,545	$ 422,664
Finite-lived intangible assets, accumulated amortization	(110,403)	(88,144)
Total other intangible assets	1,008,051	369,156
Trademarks
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets, excluding goodwill	34,909	34,636
Trademarks
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	909,624	277,473
Finite-lived intangible assets, accumulated amortization	(55,266)	(37,510)
Customer-related
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	157,168	128,182
Finite-lived intangible assets, accumulated amortization	(39,028)	(34,659)
Patents
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	16,753	17,009
Finite-lived intangible assets, accumulated amortization	$ (16,109)	$ (15,975)

GOODWILL AND INTANGIBLE ASSETS - GOODWILL AND INTANGIBLE ASSETS NARRATIVE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Oct. 01, 2017	Sep. 30, 2018	Oct. 01, 2017
Goodwill [Line Items]
Amortization of Intangible Assets	$ 9,573	$ 5,410	$ 27,858	$ 17,968

SHORT AND LONG-TERM DEBT - SHORT-TERM DEBT NARRATIVE (Details) - USD ($)	Oct. 24, 2018	Sep. 30, 2018	Jan. 08, 2018	Dec. 31, 2017
Line of Credit Facility [Line Items]
Short-term debt		$ 1,449,226,000		$ 559,359,000
Commercial Paper
Line of Credit Facility [Line Items]
Short-term debt		$ 1,359,351,000		$ 448,675,000
Short-term debt, weighted average interest rate		2.10%		1.40%
Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Line of credit facility, accordion feature increase limit		$ 400,000,000
Revolving Credit Facility \| Foreign Line of Credit
Line of Credit Facility [Line Items]
Short-term foreign bank loans against the lines of credit		89,875,000		$ 110,684,000
Line of Credit \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 1,500,000,000
Line of Credit \| Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		$ 1,000,000,000
Subsequent Event \| Line of Credit \| Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 1,400,000,000

SHORT AND LONG-TERM DEBT - SCHEDULE OF LONG-TERM DEBT INSTRUMENTS (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Aug. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total long-term debt		$ 3,256,994	$ 2,361,121
Net impact of interest rate swaps, debt issuance costs and unamortized debt discounts		(19,777)	(16,427)
Less—current portion		3,115	300,098
Long-term portion		3,253,879	2,061,023
Proceeds from Issuance of Other Long-term Debt		1,193,827
Corporate Debt Securities \| 1.60% Notes due 2018 (1)
Debt Instrument [Line Items]
Total long-term debt		$ 0	$ 300,000
Repayments of debt	$ 300,000
Interest rate, stated percentage	1.60%	1.60%	1.60%
Corporate Debt Securities \| 2.90% Notes Due 2020
Debt Instrument [Line Items]
Total long-term debt		$ 350,000	$ 0
Interest rate, stated percentage		2.90%	0.00%
Corporate Debt Securities \| 4.125% Notes due 2020
Debt Instrument [Line Items]
Total long-term debt		$ 350,000	$ 350,000
Interest rate, stated percentage		4.125%	4.125%
Corporate Debt Securities \| 3.10% Notes Due 2021
Debt Instrument [Line Items]
Total long-term debt		$ 350,000	$ 0
Interest rate, stated percentage		3.10%	0.00%
Corporate Debt Securities \| 8.8% Debentures due 2021
Debt Instrument [Line Items]
Total long-term debt		$ 84,715	$ 84,715
Interest rate, stated percentage		8.80%	8.80%
Corporate Debt Securities \| 3.375% Notes Due 2023
Debt Instrument [Line Items]
Total long-term debt		$ 500,000	$ 0
Interest rate, stated percentage		3.375%	0.00%
Corporate Debt Securities \| 2.625% Notes due 2023
Debt Instrument [Line Items]
Total long-term debt		$ 250,000	$ 250,000
Interest rate, stated percentage		2.625%	2.625%
Corporate Debt Securities \| 3.20% Notes due 2025
Debt Instrument [Line Items]
Total long-term debt		$ 300,000	$ 300,000
Interest rate, stated percentage		3.20%	3.20%
Corporate Debt Securities \| 2.30% Notes due 2026
Debt Instrument [Line Items]
Total long-term debt		$ 500,000	$ 500,000
Interest rate, stated percentage		2.30%	2.30%
Corporate Debt Securities \| 7.2% Debentures due 2027
Debt Instrument [Line Items]
Total long-term debt		$ 193,639	$ 193,639
Interest rate, stated percentage		7.20%	7.20%
Corporate Debt Securities \| 3.375% Notes due 2046
Debt Instrument [Line Items]
Total long-term debt		$ 300,000	$ 300,000
Interest rate, stated percentage		3.375%	3.375%
Lease Obligations
Debt Instrument [Line Items]
Total long-term debt		$ 98,417	$ 99,194

SHORT AND LONG-TERM DEBT - LONG TERM DEBT INTEREST RATES (Details) - Corporate Debt Securities	Sep. 30, 2018	Aug. 31, 2018	Dec. 31, 2017
1.60% Notes due 2018 (1)
Debt Instrument [Line Items]
Interest rate, stated percentage	1.60%	1.60%	1.60%
2.90% Notes Due 2020
Debt Instrument [Line Items]
Interest rate, stated percentage	2.90%		0.00%
4.125% Notes due 2020
Debt Instrument [Line Items]
Interest rate, stated percentage	4.125%		4.125%
3.10% Notes Due 2021
Debt Instrument [Line Items]
Interest rate, stated percentage	3.10%		0.00%
8.8% Debentures due 2021
Debt Instrument [Line Items]
Interest rate, stated percentage	8.80%		8.80%
3.375% Notes Due 2023
Debt Instrument [Line Items]
Interest rate, stated percentage	3.375%		0.00%
2.625% Notes due 2023
Debt Instrument [Line Items]
Interest rate, stated percentage	2.625%		2.625%
3.20% Notes due 2025
Debt Instrument [Line Items]
Interest rate, stated percentage	3.20%		3.20%
2.30% Notes due 2026
Debt Instrument [Line Items]
Interest rate, stated percentage	2.30%		2.30%
7.2% Debentures due 2027
Debt Instrument [Line Items]
Interest rate, stated percentage	7.20%		7.20%
3.375% Notes due 2046
Debt Instrument [Line Items]
Interest rate, stated percentage	3.375%		3.375%

SHORT AND LONG-TERM DEBT - SCHEDULE OF NET INTEREST EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Oct. 01, 2017	Sep. 30, 2018	Oct. 01, 2017
Debt Disclosure [Abstract]
Interest expense	$ 39,978	$ 25,955	$ 110,929	$ 76,208
Capitalized interest	(1,243)	(1,033)	(3,876)	(2,892)
Interest expense	38,735	24,922	107,053	73,316
Interest income	(1,819)	(333)	(5,846)	(860)
Interest expense, net	$ 36,916	$ 24,589	$ 101,207	$ 72,456

DERIVATIVE INSTRUMENTS - DERIVATIVE INSTRUMENTS NARRATIVE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Oct. 01, 2017	Sep. 30, 2018	Oct. 01, 2017	Dec. 31, 2017
Derivative [Line Items]
Cash flow hedge gain (loss) to be reclassified within twelve months			$ 6,814
Commodities futures and options \| Non-designated Hedges
Derivative [Line Items]
Derivative, notional amount	$ 823,798		$ 823,798		$ 405,288
Commodities futures and options \| Non-designated Hedges \| Minimum
Derivative [Line Items]
Derivative, term of contract			6 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			6 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	63,801		$ 63,801		135,962
Foreign exchange contracts \| Non-designated Hedges
Derivative [Line Items]
Derivative, notional amount	144,577		144,577		2,791
Interest rate swap agreements \| Designated as Hedging Instrument \| Fair Value Hedging
Derivative [Line Items]
Derivative, notional amount	350,000		350,000		350,000
Deferred compensation derivatives
Derivative [Line Items]
Derivative, notional amount	30,794		$ 30,794		$ 25,246
Deferred compensation derivatives \| Non-designated Hedges \| Minimum
Derivative [Line Items]
Derivative, term of contract			6 months
Deferred compensation derivatives \| Non-designated Hedges \| Maximum
Derivative [Line Items]
Derivative, term of contract			12 months
Interest Rate Swap [Member] \| Designated as Hedging Instrument \| Fair Value Hedging \| Interest Expense
Derivative [Line Items]
Fair value hedges, pre-tax benefit	$ (370)	$ 573	$ (245)	$ 2,203

DERIVATIVE INSTRUMENTS - SCHEDULE OF THE CLASSIFICATION OF DERIVATIVE ASSETS AND LIABILITIES WITHIN THE CONSOLIDATED BALANCE SHEETS (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Derivative asset	$ 6,775	$ 2,425
Derivative liability	21,443	6,378
Non-designated Hedges
Derivatives, Fair Value [Line Items]
Derivative asset	3,860	2,002
Derivative liability	17,192	3,054
Non-designated Hedges \| Commodities futures and options
Derivatives, Fair Value [Line Items]
Derivative Asset, Cash Transfers Receivable (Payable), Change In Quoted Market Prices On The Last Day Of Trading	116,225	48,505
Derivative Liability, Cash Transfers Receivable (Payable), Change In Quoted Market Prices On The Last Day Of Trading	132,837	50,179
Derivative asset	51	390
Derivative liability	16,684	3,054
Non-designated Hedges \| Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Derivative asset	1,658	31
Derivative liability	508	0
Non-designated Hedges \| Deferred compensation derivatives
Derivatives, Fair Value [Line Items]
Derivative asset	2,151	1,581
Derivative liability	0	0
Cash Flow Hedges \| Designated as Hedging Instrument \| Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Derivative asset	2,915	423
Derivative liability	250	1,427
Fair Value Hedging \| Designated as Hedging Instrument \| Interest rate swap agreements
Derivatives, Fair Value [Line Items]
Derivative asset	0	0
Derivative liability	$ 4,001	$ 1,897

DERIVATIVE INSTRUMENTS - SCHEDULE OF THE EFFECT OF DERIVATIVE INSTRUMENTS ON THE CONSOLIDATED STATEMENTS OF INCOME (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Oct. 01, 2017	Sep. 30, 2018	Oct. 01, 2017
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ (68,148)	$ (2,085)	$ (584)	$ (39,546)
Commodities futures and options
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(71,088)	(2,445)	(4,315)	(40,500)
Foreign exchange contracts
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	1,595	11	1,580	(40)
Interest rate swap agreements
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	0	0	0	0
Deferred compensation derivatives
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	1,345	349	2,151	994
Designated as Hedging Instrument \| Cash Flow Hedges
Derivative [Line Items]
Gains (losses) recognized in other comprehensive income (“OCI”) (effective portion)	(1,484)	(1,339)	6,320	(3,545)
Gains (losses) reclassified from accumulated OCI into income (effective portion)	2,261	(1,962)	(2,462)	(7,374)
Designated as Hedging Instrument \| Cash Flow Hedges \| Commodities futures and options
Derivative [Line Items]
Gains (losses) recognized in other comprehensive income (“OCI”) (effective portion)	0	0	0	0
Gains (losses) reclassified from accumulated OCI into income (effective portion)	0	(488)	0	(1,325)
Designated as Hedging Instrument \| Cash Flow Hedges \| Foreign exchange contracts
Derivative [Line Items]
Gains (losses) recognized in other comprehensive income (“OCI”) (effective portion)	(1,484)	(1,339)	6,320	(3,545)
Gains (losses) reclassified from accumulated OCI into income (effective portion)	4,605	869	4,648	1,087
Designated as Hedging Instrument \| Cash Flow Hedges \| Interest rate swap agreements
Derivative [Line Items]
Gains (losses) recognized in other comprehensive income (“OCI”) (effective portion)	0	0	0	0
Gains (losses) reclassified from accumulated OCI into income (effective portion)	(2,344)	(2,343)	(7,110)	(7,136)
Designated as Hedging Instrument \| Cash Flow Hedges \| Deferred compensation derivatives
Derivative [Line Items]
Gains (losses) recognized in other comprehensive income (“OCI”) (effective portion)	0	0	0	0
Gains (losses) reclassified from accumulated OCI into income (effective portion)	$ 0	$ 0	$ 0	$ 0

FAIR VALUE MEASUREMENTS - SCHEDULE OF ASSETS AND LIABILITIES MEASURED AT FAIR VALUE (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	$ 6,775	$ 2,425
Derivative liability	21,443	6,378
Fair Value, Measurements, Recurring \| Foreign exchange contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	4,573	454
Derivative liability	758	1,427
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	4,573	454
Derivative liability	758	1,427
Fair Value, Measurements, Recurring \| Foreign exchange contracts \| Significant other unobservable inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	0	0
Derivative liability	0	0
Fair Value, Measurements, Recurring \| Interest rate swap agreements
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability	4,001	1,897
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 liability	0	0
Fair Value, Measurements, Recurring \| Interest rate swap agreements \| Significant other observable inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability	4,001	1,897
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 liability	0	0
Fair Value, Measurements, Recurring \| Deferred compensation derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	2,151	1,581
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	2,151	1,581
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	51	390
Derivative liability	16,684	3,054
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	51	390
Derivative liability	16,684	3,054
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 - SCHEDULE OF FAIR VALUES AND CARRYING VALUES OF LONG-TERM DEBT (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of long-term debt	$ 3,115	$ 300,098
Long-term portion	3,253,879	2,061,023
Long-term Debt	3,256,994	2,361,121
Significant other observable inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Current Maturities, Fair Value	3,115	299,430
Long-term Debt, Excluding Current Maturities, Fair Value	3,221,093	2,113,296
Long-term Debt, Fair Value	3,224,208	2,412,726
Current portion of long-term debt	3,115	300,098
Long-term portion	3,253,879	2,061,023
Long-term Debt	$ 3,256,994	$ 2,361,121

FAIR VALUE MEASUREMENTS - FAIR VALUE MEASUREMENTS NARRATIVE (Details) - USD ($)	9 Months Ended
	Sep. 30, 2018	Oct. 01, 2017	Dec. 31, 2017
Derivative [Line Items]
Impairment of Long-Lived Assets to be Disposed of	$ 28,817,000
Margin for Growth Program
Derivative [Line Items]
Impairment of intangible assets (excluding goodwill)		$ 105,992,000
Impairment of long-lived assets held-for-use		$ 102,720,000
Significant other unobservable inputs (Level 3)
Derivative [Line Items]
Fair Value, Net Asset (Liability)	$ 0		$ 0

ASSETS HELD FOR SALE ASSETS HELD FOR SALE (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended		9 Months Ended
	Apr. 30, 2018	Jul. 31, 2018	Sep. 30, 2018	Oct. 01, 2017	Sep. 30, 2018	Oct. 01, 2017	Dec. 31, 2017
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					$ 46,652	$ 1,758
Proceeds from sales of businesses, net of cash and cash equivalents divested					171,950	0
Long-lived asset impairment charges			$ 1,649	$ 0	28,817	$ 208,712
Long-lived assets			40,551		40,551
Non-current assets			3,278		3,278
Assets			$ 43,829		43,829		$ 21,124
Licensing Rights
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of intangible assets	$ 13,000
Gain (loss) on disposition of intangible assets	$ 2,658
Operational Optimization Program \| Facility Closing
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 impairment charges		$ 28,817

BUSINESS REALIGNMENT ACTIVITIES - SCHEDULE OF BUSINESS REALIGNMENT ACTIVITY (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Oct. 01, 2017	Sep. 30, 2018	Oct. 01, 2017
Restructuring Cost and Reserve [Line Items]
Business realignment costs	$ 11,423,000	$ 8,257,000	$ 42,670,000	$ 69,699,000
Cost of Sales
Restructuring Cost and Reserve [Line Items]
Business realignment costs	4,565,000	213,000	14,101,000	6,475,000
Selling, marketing and administrative
Restructuring Cost and Reserve [Line Items]
Business realignment costs	4,598,000	4,024,000	17,105,000	13,206,000
Business realignment charges
Restructuring Cost and Reserve [Line Items]
Business realignment costs	2,260,000	4,020,000	11,464,000	50,018,000
Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	16,908,000	7,889,000	46,419,000	56,420,000
Operational Optimization Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	1,077,000	368,000	2,813,000	13,279,000
Severance \| Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	5,573,000	2,876,000	12,635,000	33,331,000
Severance \| Operational Optimization Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	0	0	0	13,828,000
Facility Closing \| Operational Optimization Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	(6,562,000)	0	(6,562,000)	0
Accelerated depreciation and amortization \| Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	4,786,000	0	12,030,000	6,873,000
Other Program Costs \| Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	6,549,000	5,013,000	21,754,000	16,216,000
Other Program Costs \| Operational Optimization Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	$ 1,077,000	$ 368,000	$ 2,813,000	$ (549,000)

BUSINESS REALIGNMENT ACTIVITIES - BUSINESS REALIGNMENT ACTIVITIES NARRATIVE (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Feb. 28, 2017	Sep. 30, 2018	Oct. 01, 2017	Sep. 30, 2018	Oct. 01, 2017
Restructuring Cost and Reserve [Line Items]
Long-lived asset impairment charges		$ 1,649,000	$ 0	$ 28,817,000	$ 208,712,000
Business realignment costs		11,423,000	8,257,000	42,670,000	69,699,000
Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, cost incurred to date		327,265,000		327,265,000
Long-lived asset impairment charges				16,300,000	208,712,000
Restructuring and related cost, expected number of positions eliminated, percent	15.00%
Business realignment costs		16,908,000	7,889,000	46,419,000	56,420,000
Impairment of intangible assets (excluding goodwill)					105,992,000
Impairment of long-lived assets held-for-use					102,720,000
Margin for Growth Program \| Severance
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, cost incurred to date		45,189,000		45,189,000
Business realignment costs		5,573,000	2,876,000	12,635,000	33,331,000
Margin for Growth Program \| Other Program Costs
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, cost incurred to date		57,064,000		57,064,000
Business realignment costs		6,549,000	5,013,000	21,754,000	16,216,000
Operational Optimization Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs		1,077,000	368,000	2,813,000	13,279,000
Operational Optimization Program \| Facility Closing
Restructuring Cost and Reserve [Line Items]
Business realignment costs		(6,562,000)	0	(6,562,000)	0
Operational Optimization Program \| Severance
Restructuring Cost and Reserve [Line Items]
Business realignment costs		0	0	0	13,828,000
Operational Optimization Program \| Other Program Costs
Restructuring Cost and Reserve [Line Items]
Business realignment costs		1,077,000	$ 368,000	$ 2,813,000	$ (549,000)
Business realignment charges \| Geographic Concentration Risk \| North America \| Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Concentration Risk, Percentage				65.00%
Business realignment charges \| Geographic Concentration Risk \| North America \| Operational Optimization Program
Restructuring Cost and Reserve [Line Items]
Concentration Risk, Percentage				40.00%
Business realignment charges \| Geographic Concentration Risk \| International and Other \| Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Concentration Risk, Percentage				35.00%
Business realignment charges \| Geographic Concentration Risk \| International and Other \| Operational Optimization Program
Restructuring Cost and Reserve [Line Items]
Concentration Risk, Percentage				60.00%
Minimum \| Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	$ 375,000,000	340,000,000		$ 340,000,000
Restructuring and related cost, expected cost remaining	13,000,000
Effect on future cash flows, amount	97,000,000
Maximum \| Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	425,000,000	$ 355,000,000		$ 355,000,000
Restructuring and related cost, expected cost remaining	28,000,000
Effect on future cash flows, amount	$ 112,000,000

BUSINESS REALIGNMENT ACTIVITIES - SCHEDULE OF LIABILITY ACTIVITY FOR COSTS QUALIFYING AS EXIT AND DISPOSAL COSTS (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2018 USD ($)
Restructuring Reserve [Roll Forward]
Liability balance at December 31, 2017	$ 38,992
2018 business realignment charges	23,087
Cash payments	(43,884)
Other, net	669
Liability balance at September 30, 2018	$ 18,864

INCOME TAXES - INCOME TAXES NARRATIVE (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 31, 2017	Sep. 30, 2018	Oct. 01, 2017
Income Tax Contingency [Line Items]
Effective income tax rate reconciliation, at federal statutory income tax rate, percent		21.00%
Effective income tax rate reconciliation, percent		21.30%	32.40%
Significant change in unrecognized tax benefits is reasonably possible, amount of unrecorded benefit		$ 6,751
Tax Cuts and Jobs Act of 2017, Net Impact Change in Tax Rate and Mandatory Tax on Unremitted Foreign Earnings, Income Tax Expense (Benefit)	$ 32,500

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - SCHEDULE OF COMPONENTS OF NET PERIODIC BENEFIT COST (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Oct. 01, 2017	Sep. 30, 2018	Oct. 01, 2017
Pension Benefits
Amounts recognized in net periodic benefit cost
Service cost	$ 5,272	$ 5,262	$ 15,931	$ 15,487
Interest cost	7,487	10,320	23,153	30,819
Expected return on plan assets	(14,455)	(14,390)	(43,973)	(43,088)
Amortization of prior service (credit) cost	(1,804)	(1,455)	(5,402)	(4,366)
Amortization of net loss	6,784	8,526	20,155	25,308
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment	6,893	17,043	6,893	17,043
Total net periodic benefit cost	10,177	25,306	16,757	41,203
Other Benefits
Amounts recognized in net periodic benefit cost
Service cost	56	66	172	197
Interest cost	1,730	2,214	5,194	6,626
Expected return on plan assets	0	0	0	0
Amortization of prior service (credit) cost	209	187	627	560
Amortization of net loss	0	(1)	0	(1)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment	0	0	0	0
Total net periodic benefit cost	$ 1,995	$ 2,466	$ 5,993	$ 7,382

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS NARRATIVE (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018 USD ($)	Oct. 01, 2017 USD ($)	Sep. 30, 2018 USD ($)	Oct. 01, 2017 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Remeasurement, Basis Spread on Discount Rate	72		72
Expected return on plan assets			5.80%
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	$ 6,350	$ 31,512	$ 7,651	$ 36,497
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	$ 6,276	$ 6,922	$ 19,054	$ 21,386

STOCK COMPENSATION PLANS - SCHEDULE OF COMPENSATION EXPENSE AND INCOME TAX BENEFITS FOR STOCK-BASED COMPENSATION PROGRAMS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Oct. 01, 2017	Sep. 30, 2018	Oct. 01, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Pre-tax compensation expense	$ 12,122	$ 13,409	$ 35,668	$ 37,966
Related income tax benefit	$ 2,808	$ 4,076	$ 7,776	$ 11,124

STOCK COMPENSATION PLANS - STOCK COMPENSATION PLANS NARRATIVE (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2018	Oct. 01, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized	$ 68,498
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition	2 years 1 month
Intrinsic value of share-based liabilities paid, combined with the fair value of shares vested (in millions of dollars)	$ 22,093	$ 26,097
Deferred performance stock units, deferred restricted stock units, and directors' fees and accumulated dividend amounts representing deferred stock units outstanding	308,369
Employee stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average fair value of options granted (per share)	$ 15.57	$ 15.77
Intrinsic value of options exercised (in millions of dollars)	$ 26,006	$ 38,845
Performance Stock Units and Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, conversion basis (shares)	1

STOCK COMPENSATION PLANS - SCHEDULE OF STOCK OPTION ACTIVITY (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2018	Oct. 01, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding shares at beginning of year (shares)	5,921,062
Granted (shares)	927,775
Exercised (shares)	(680,028)
Forfeited (shares)	(311,438)
Outstanding as of September 30, 2018 (shares)	5,857,371
Options exercisable as of September 30, 2018 (shares)	3,907,324
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding (USD per share)	$ 89.06
Granted (USD per share)	99.86
Exercises (USD per share)	62.25
Forfeited (USD per share)	102.16
Outstanding (USD per share)	93.18
Options exercisable (USD per share)	$ 89.41
Options outstanding, weighted-average remaining contractual term	5 years 8 months	5 years 10 months
Options exercisable, weighted aver remaining contractual term	4 years 3 months
Aggregate intrinsic value of options outstanding	$ 63,665
Aggregate intrinsic value of options exercisable	$ 57,198

STOCK COMPENSATION PLANS - SCHEDULE OF FAIR VALUE WEIGHTED-AVERAGE ASSUMPTIONS (Details)	9 Months Ended
	Sep. 30, 2018	Oct. 01, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Dividend yields	2.30%	2.40%
Expected volatility	16.60%	17.20%
Risk-free interest rates	2.80%	2.20%
Expected term in years	6 years 7 months	6 years 10 months

STOCK COMPENSATION PLANS - SCHEDULE OF PSUs AND RSUs ACTIVITY (Details) - Performance and restricted stock units - $ / shares	9 Months Ended
	Sep. 30, 2018	Oct. 01, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at beginning of year (shares)	923,364
Granted (shares)	435,096	441,634
Performance assumption change (shares)	(68,625)
Vested (shares)	(225,213)
Forfeited (shares)	(101,170)
Outstanding as of September 30, 2018 (shares)	963,452
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)	$ 103.11
Weighted-average fair value at date of grant (USD per share)	97.74	$ 111.00
Performance assumption change	102.24
Vested (USD per share)	105.33
Forfeited (USD per share)	103.55
Outstanding as of September 30, 2018 (USD per share)	$ 101.41

STOCK COMPENSATION PLANS - SCHEDULE OF PSUs AND RSUS FAIR VALUE WEIGHTED-AVERAGE ASSUMPTIONS (Details) - $ / shares	9 Months Ended
	Sep. 30, 2018	Oct. 01, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yields	2.30%	2.40%
Performance and restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (shares)	435,096	441,634
Weighted-average fair value at date of grant (USD per share)	$ 97.74	$ 111.00
Estimated values (USD per share)	$ 29.17	$ 46.85
Dividend yields	2.60%	2.30%
Expected volatility	20.40%	20.40%

- SEGMENT INFORMATION NARRATIVE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018	Oct. 01, 2017	Sep. 30, 2018	Oct. 01, 2017	Dec. 31, 2018
North America \| Geographic Concentration Risk \| Sales Revenue, Goods, Net
Revenue, Major Customer [Line Items]
Concentration Risk, Percentage			89.00%
Operating Segments \| Commodities futures and options
Revenue, Major Customer [Line Items]
Net Gain Loss On Commodity Derivative Positions Reclassified From Unallocated Derivative Gains Losses To Segment Income	$ 23,471	$ 24,399	$ 73,779	$ 67,986
Scenario, Forecast \| Operating Segments \| Commodities futures and options
Revenue, Major Customer [Line Items]
Net Gain Loss On Commodity Derivative Positions Reclassified From Unallocated Derivative Gains Losses To Segment Income					$ (25,418)
Cost of Sales \| Commodities futures and options
Revenue, Major Customer [Line Items]
Derivative, Gain (Loss) on Derivative, Net			$ 58,482

- SCHEDULE OF NET SALES AND EARNINGS BY SEGMENT (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Oct. 01, 2017	Sep. 30, 2018	Oct. 01, 2017
Segment Reporting Information [Line Items]
Net Sales	$ 2,079,593	$ 2,033,121	$ 5,803,167	$ 5,575,790
Operating Income (Loss)	406,263	461,464	1,202,499	979,193
Costs associated with business realignment activities	11,423	8,257	42,670	69,699
Interest expense, net	36,916	24,589	101,207	72,456
Other (income) expense, net	12,493	36,074	35,201	56,458
Income before income taxes	356,854	400,801	1,066,091	850,279
Operating Segments
Segment Reporting Information [Line Items]
Operating Income (Loss)	587,132	570,647	1,599,724	1,593,545
Operating Segments \| North America
Segment Reporting Information [Line Items]
Net Sales	1,843,511	1,792,377	5,155,151	4,946,537
Operating Income (Loss)	556,060	554,247	1,534,345	1,567,054
Operating Segments \| International and Other
Segment Reporting Information [Line Items]
Net Sales	236,082	240,744	648,016	629,253
Operating Income (Loss)	31,072	16,400	65,379	26,491
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Operating Income (Loss)	116,474	122,880	361,447	363,116
Segment Reconciling Items
Segment Reporting Information [Line Items]
Derivative, Gain (Loss) on Derivative, Net	47,617	(21,954)	(69,464)	(27,486)
Goodwill and long-lived asset impairment charges	1,649	0	28,817	208,712
Costs associated with business realignment activities	11,423	8,257	42,670	69,699
Acquisition-related costs	3,706	0	36,413	311
Gain (loss) on disposition of intangible assets	$ 0	$ 0	$ (2,658)	$ 0

SEGMENT INFORMATION - SCHEDULE OF UNALLOCATED MARK-TO-MARKET (GAINS) LOSSES ON COMMODITY DERIVATIVES (Details) - Commodities futures and options - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Oct. 01, 2017	Sep. 30, 2018	Oct. 01, 2017
Segment Reconciling Items
Segment Reporting Information [Line Items]
Net Mark to Market Valuation of Certain Derivative Positions Recognized in Unallocated Derivative Gains Losses	$ 47,617	$ (21,954)	$ (69,464)	$ (27,486)
Operating Segments
Segment Reporting Information [Line Items]
Net Gain Loss On Commodity Derivative Positions Reclassified From Unallocated Derivative Gains Losses To Segment Income	23,471	24,399	73,779	67,986
Non-designated Hedges
Segment Reporting Information [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 71,088	$ 2,445	$ 4,315	$ 40,500

- SCHEDULE OF DEPRECIATION AND AMORTIZATION EXPENSE INCLUDED WITHIN SEGMENT INCOME (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Oct. 01, 2017	Sep. 30, 2018	Oct. 01, 2017
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 74,807	$ 62,234	$ 225,803	$ 194,313
Operating Segments \| North America
Segment Reporting Information [Line Items]
Depreciation and amortization	52,066	42,544	152,237	125,532
Operating Segments \| International and Other
Segment Reporting Information [Line Items]
Depreciation and amortization	7,260	9,397	28,090	32,110
Corporate, Non-Segment \| Corporate (1)
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 15,481	$ 10,293	$ 45,476	$ 36,671

TREASURY STOCK ACTIVITY - SCHEDULE OF TREASURY STOCK ACTIVITY (Details)	9 Months Ended
	Sep. 30, 2018 USD ($) shares
Class of Stock [Line Items]
Total share repurchases (in shares) \| shares	2,021,812
Shares issued for stock options and incentive compensation (in shares) \| shares	(881,569)
Net change (in shares) \| shares	1,140,243
Total share repurchases \| $	$ 199,665,000
Shares issued for stock options and incentive compensation \| $	(36,681,000)
Net change \| $	$ 162,984,000
Employee stock options
Class of Stock [Line Items]
Total share repurchases (in shares) \| shares	615,719
Total share repurchases \| $	$ 59,665,000
Common stock
Class of Stock [Line Items]
Total share repurchases (in shares) \| shares	1,406,093
Total share repurchases \| $	$ 140,000,000

TREASURY STOCK ACTIVITY - TREASURY STOCK ACTIVITY NARRATIVE (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Jul. 24, 2018	Oct. 26, 2017	Jan. 31, 2016
2016 Share Repurchase Program
Class of Stock [Line Items]
Authorized stock repurchase amount				$ 500,000
2017 Share Repurchase Program
Class of Stock [Line Items]
Authorized stock repurchase amount			$ 100,000
Remaining authorized repurchase amount	$ 60,000
2018 Share Repurchase Program
Class of Stock [Line Items]
Authorized stock repurchase amount		$ 500,000

NONCONTROLLING INTEREST - SCHEDULE OF ACTIVITY RELATING TO THE NONCONTROLLING INTEREST (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Oct. 01, 2017	Sep. 30, 2018	Oct. 01, 2017
Noncontrolling Interest [Line Items]
Balance, December 31, 2017			$ 16,227
Net income (loss) attributable to noncontrolling interests	$ 1,700	$ 710	(1,320)	$ (26,860)
Balance, September 30, 2018	14,370		14,370
Noncontrolling Interests in Subsidiaries
Noncontrolling Interest [Line Items]
Balance, December 31, 2017			16,227
Net income (loss) attributable to noncontrolling interests			(1,320)
Other comprehensive income - foreign currency translation adjustments			(537)
Balance, September 30, 2018	$ 14,370		$ 14,370

- SCHEDULE OF BASIC AND DILUTED EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Oct. 01, 2017	Sep. 30, 2018	Oct. 01, 2017
Common stock
Basic earnings per share:
Allocation of distributed earnings (cash dividends paid)	$ 107,532	$ 99,588	$ 303,152	$ 287,580
Allocation of undistributed earnings	85,019	100,892	310,942	154,128
Total earnings—basic	$ 192,551	$ 200,480	$ 614,094	$ 441,708
Total weighted-average shares—basic (shares)	149,155	151,418	149,371	152,004
Earnings Per Share—basic (USD per share)	$ 1.29	$ 1.32	$ 4.11	$ 2.91
Diluted earnings per share:
Allocation of total earnings used in basic computation	$ 192,551	$ 200,480	$ 614,094	$ 441,708
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock	71,162	72,823	226,677	160,140
Reallocation of undistributed earnings	0	0	0	0
Total earnings—diluted	$ 263,713	$ 273,303	$ 840,771	$ 601,848
Conversion of Class B common stock to Common shares outstanding	60,620	60,620	60,620	60,620
Total weighted-average shares—diluted (shares)	210,681	213,392	210,970	214,123
Earnings Per Share—diluted (USD per share)	$ 1.25	$ 1.28	$ 3.99	$ 2.81
Common stock \| Employee stock options
Diluted earnings per share:
Incremental common shares attributable to dilutive effect of share-based payment arrangements	589	1,002	664	1,165
Common stock \| Performance and restricted stock units
Diluted earnings per share:
Incremental common shares attributable to dilutive effect of share-based payment arrangements	317	352	315	334
Class B common stock
Basic earnings per share:
Allocation of distributed earnings (cash dividends paid)	$ 39,767	$ 36,129	$ 112,026	$ 104,265
Allocation of undistributed earnings	31,395	36,694	114,651	55,875
Total earnings—basic	$ 71,162	$ 72,823	$ 226,677	$ 160,140
Total weighted-average shares—basic (shares)	60,620	60,620	60,620	60,620
Earnings Per Share—basic (USD per share)	$ 1.17	$ 1.20	$ 3.74	$ 2.64
Diluted earnings per share:
Allocation of total earnings used in basic computation	$ 71,162	$ 72,823	$ 226,677	$ 160,140
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock	0	0	0	0
Reallocation of undistributed earnings	(139)	(239)	(547)	(401)
Total earnings—diluted	$ 71,023	$ 72,584	$ 226,130	$ 159,739
Conversion of Class B common stock to Common shares outstanding	0	0	0	0
Total weighted-average shares—diluted (shares)	60,620	60,620	60,620	60,620
Earnings Per Share—diluted (USD per share)	$ 1.17	$ 1.20	$ 3.73	$ 2.64
Class B common stock \| Employee stock options
Diluted earnings per share:
Incremental common shares attributable to dilutive effect of share-based payment arrangements	0	0	0	0
Class B common stock \| Performance and restricted stock units
Diluted earnings per share:
Incremental common shares attributable to dilutive effect of share-based payment arrangements	0	0	0	0

EARNINGS PER SHARE - EARNINGS PER SHARE NARRATIVE (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Oct. 01, 2017	Sep. 30, 2018	Oct. 01, 2017
Employee stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (shares)	4,084	2,374	4,196	2,374

OTHER (INCOME) EXPENSE, NET - SCHEDULE OF OTHER (INCOME) AND EXPENSE, NET (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Oct. 01, 2017	Sep. 30, 2018	Oct. 01, 2017
Other Income and Expenses [Abstract]
Write-down of equity investments in partnerships qualifying for tax credits	$ 3,303	$ 13,736	$ 23,067	$ 23,999
Non-service cost components of net periodic benefit cost relating to pension and other post-retirement benefit plans	6,843	22,444	6,647	32,901
Other (income) expense, net	2,347	(106)	5,487	(442)
Total	$ 12,493	$ 36,074	$ 35,201	$ 56,458

- SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Inventory, Net [Abstract]
Raw materials	$ 241,611	$ 224,940
Goods in process	108,540	93,627
Finished goods	700,309	614,945
Inventories at FIFO	1,050,460	933,512
Adjustment to LIFO	(169,787)	(180,676)
Total inventories	880,673	752,836
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid expenses	45,141	128,735
Assets held for sale	43,829	21,124
Other current assets	185,693	130,774
Total prepaid expenses and other	274,663	280,633
Property, Plant and Equipment [Abstract]
Land	103,436	108,300
Buildings	1,230,615	1,214,158
Machinery and equipment	2,989,276	2,925,353
Construction in progress	260,595	212,912
Property, plant and equipment, gross	4,583,922	4,460,723
Accumulated depreciation	(2,491,023)	(2,354,026)
Property, plant and equipment, net	2,092,899	2,106,697
Other Assets, Noncurrent [Abstract]
Capitalized software, net	121,246	104,881
Other non-current assets	140,002	146,998
Total other assets	261,248	251,879
Accrued Liabilities, Current [Abstract]
Payroll, compensation and benefits	164,986	190,863
Advertising and promotion	294,638	305,107
Other	204,350	180,164
Total accrued liabilities	663,974	676,134
Other Liabilities, Noncurrent [Abstract]
Post-retirement benefits liabilities	208,114	215,320
Pension benefits liabilities	38,189	39,410
Other	182,929	184,209
Total other long-term liabilities	429,232	438,939
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Foreign currency translation adjustments	(84,509)	(91,837)
Pension and post-retirement benefit plans, net of tax	(194,793)	(169,526)
Cash flow hedges, net of tax	(56,652)	(52,383)
Total accumulated other comprehensive loss	$ (335,954)	$ (313,746)

SUBSEQUENT EVENT - SUBSEQUENT EVENT NARRATIVE (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
	Oct. 17, 2018	Sep. 30, 2018	Oct. 01, 2017	Sep. 30, 2018	Oct. 01, 2017	Dec. 31, 2018
Subsequent Event [Line Items]
Net sales		$ 2,079,593	$ 2,033,121	$ 5,803,167	$ 5,575,790
Pirate Brands \| Subsequent Event
Subsequent Event [Line Items]
Consideration transferred	$ 420,000
Pirate Brands \| Scenario, Forecast
Subsequent Event [Line Items]
Net sales						$ 90,000

CONTINGENCIES	9 Months Ended
CONTINGENCIES	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Contingencies	CONTINGENCIES We are subject to various pending or threatened legal proceedings and claims that arise in the ordinary course of our business. While it is not feasible to predict or determine the outcome of such proceedings and claims with certainty, in our opinion these matters, both individually and in the aggregate, are not expected to have a material effect on our financial condition, results of operations or cash flows.

NONCONTROLLING INTEREST - NONCONTROLLING INTEREST NARRATIVE (Details)	Sep. 30, 2018
Lotte Shanghai Food Company [Member]
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	50.00%