DOCUMENT AND ENTITY INFORMATION - USD ($)	12 Months Ended
DOCUMENT AND ENTITY INFORMATION - USD ($)	Dec. 31, 2018	Feb. 15, 2019	Jun. 29, 2018
Document Information [Line Items]
Entity registrant name	HERSHEY CO
Entity central index key	0000047111
Current fiscal year end date	--12-31
Entity filer category	Large Accelerated Filer
Document type	10-K
Document period end date	Dec. 31, 2018
Document fiscal year focus	2018
Document fiscal period focus	FY
Amendment flag	false
Entity well-known seasoned issuer	Yes
Entity voluntary filers	No
Entity current reporting status	Yes
Entity public float			$ 13,038,400,227
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Common stock
Document Information [Line Items]
Entity common stock, shares outstanding (shares)		147,906,017
Class B common stock
Document Information [Line Items]
Entity common stock, shares outstanding (shares)		60,613,777

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018	Jul. 01, 2018	Apr. 01, 2018	Dec. 31, 2017	Oct. 01, 2017	Jul. 02, 2017	Apr. 02, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net sales	$ 1,987,902	$ 2,079,593	$ 1,751,615	$ 1,971,959	$ 1,939,636	$ 2,033,121	$ 1,662,991	$ 1,879,678	$ 7,791,069	$ 7,515,426	$ 7,440,181
Cost of sales									4,215,744	4,060,050	4,270,642
Gross profit	944,352	863,493	793,420	974,060	837,241	942,936	765,847	909,352	3,575,325	3,455,376	3,169,539
Selling, marketing and administrative expense									1,874,829	1,885,492	1,891,305
Long-lived asset impairment charges									57,729	208,712	4,204
Business realignment costs									19,103	47,763	18,857
Operating profit									1,623,664	1,313,409	1,255,173
Interest expense, net									138,837	98,282	90,143
Other (income) expense, net									74,766	104,459	65,549
Income before income taxes									1,410,061	1,110,668	1,099,481
Provision for income taxes									239,010	354,131	379,437
Net income including noncontrolling interest									1,171,051	756,537	720,044
Net income (loss) attributable to noncontrolling interests									(6,511)	(26,444)	0
Net income attributable to The Hershey Company	$ 336,791	$ 263,713	$ 226,855	$ 350,203	$ 181,133	$ 273,303	$ 203,501	$ 125,044	$ 1,177,562	$ 782,981	$ 720,044
Common stock
Net income per share—basic:
Net income per share - basic (USD per share)	$ 1.65	$ 1.29	$ 1.11	$ 1.71	$ 0.88	$ 1.32	$ 0.98	$ 0.60	$ 5.76	$ 3.79	$ 3.45
Net income per share—diluted:
Net income per share - diluted (USD per share)	1.60	1.25	1.08	1.65	0.85	1.28	0.95	0.58	5.58	3.66	3.34
Dividends paid per share:
Dividends paid per share (USD per share)	0.722	0.722	0.656	0.656	0.656	0.656	0.618	0.618	2.756	2.548	2.402
Class B common stock
Net income per share—basic:
Net income per share - basic (USD per share)	1.50	1.17	1.01	1.55	0.80	1.20	0.89	0.55	5.24	3.44	3.15
Net income per share—diluted:
Net income per share - diluted (USD per share)	1.49	1.17	1.01	1.55	0.80	1.20	0.89	0.55	5.22	3.44	3.14
Dividends paid per share:
Dividends paid per share (USD per share)	$ 0.656	$ 0.656	$ 0.596	$ 0.596	$ 0.596	$ 0.596	$ 0.562	$ 0.562	$ 2.504	$ 2.316	$ 2.184

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income including noncontrolling interest	$ 1,171,051	$ 756,537	$ 720,044
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, pre-tax amount	(31,143)	19,616	(13,041)
Foreign currency translation adjustments, tax (expense) benefit	0	0	0
Foreign currency translation adjustments, after-tax amount	(31,143)	19,616	(13,041)
Reclassification to earnings due to sale of business, pre-tax amount	(25,131)	0	0
Reclassification to earnings due to sale of business, pre-tax amount, tax (expense) benefit	0	0	0
Reclassification to earnings due to sale of business, after-tax amount	(25,131)	0	0
Pension and post-retirement benefit plans:
Net actuarial gain (loss) and prior service cost, pre-tax amount	(39,724)	28,718	20,304
Net actuarial gain (loss) and prior service cost, tax (expense) benefit	10,120	(10,883)	(7,776)
Net actuarial gain (loss) and prior service cost, after-tax amount	(29,604)	17,835	12,528
Tax cuts and jobs act, reclassification from aoci to retained earnings, pre tax effect, pension and post-retirement benefit plans	0	0	0
Tax cuts and jobs act, reclassification from aoci to retained earnings, tax effect, pension and post-retirement benefit plans	(36,535)	0	0
Tax cuts and jobs act, reclassification from aoci to retained earnings, after tax pension and post-retirement benefit plans	(36,535)	0	0
Reclassification to earnings, pre-tax amount	40,421	46,305	56,604
Reclassification to earnings, tax (expense) benefit	(9,986)	(26,497)	(21,653)
Reclassification to earnings, after-tax amount	30,435	19,808	34,951
Cash flow hedges:
Gains (losses) recognized in other comprehensive income (“OCI”) (effective portion)	5,822	(4,931)	(52,708)
Gains (losses) on cash flow hedging derivatives, tax (expense) benefit	(86)	73	18,701
Gains (losses) on cash flow hedging derivatives, after-tax amount	5,736	(4,858)	(34,007)
Tax cuts and jobs act, reclassification from aoci to retained earnings, pre tax effect, cash flow hedges	0	0	0
Tax cuts and jobs act, reclassification from aoci to retained earnings, tax effect, cash flow hedges	(11,121)	0	0
Tax cuts and jobs act, reclassification from aoci to retained earnings, after tax, cash flow hedges	(11,121)	0	0
Reclassification to earnings, pre-tax amount	5,573	14,434	(16,482)
Reclassification to earnings, tax (expense) benefit	(2,677)	(3,853)	7,524
Reclassification to earnings, after-tax amount	2,896	10,581	(8,958)
Total other comprehensive income (loss), pre-tax amount	6,080	104,142	(5,323)
Total other comprehensive income (loss), tax (expense) benefit	(50,285)	(41,160)	(3,204)
Total other comprehensive income (loss), after-tax amount	(44,205)	62,982	(8,527)
Total comprehensive income including noncontrolling interest	1,126,846	819,519	711,517
Comprehensive loss attributable to noncontrolling interest	(7,682)	(25,604)	(3,664)
Comprehensive income attributable to The Hershey Company	$ 1,134,528	$ 845,123	$ 715,181

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 587,998	$ 380,179
Accounts receivable—trade, net	594,145	588,262
Inventories	784,879	752,836
Prepaid expenses and other	272,159	280,633
Total current assets	2,239,181	2,001,910
Property, plant and equipment, net	2,130,294	2,106,697
Goodwill	1,801,103	821,061
Other intangibles	1,278,292	369,156
Other assets	252,984	251,879
Deferred income taxes	1,166	3,023
Total assets	7,703,020	5,553,726
Current liabilities:
Accounts payable	502,314	523,229
Accrued liabilities	679,163	676,134
Accrued income taxes	33,773	17,723
Short-term debt	1,197,929	559,359
Current portion of long-term debt	5,387	300,098
Total current liabilities	2,418,566	2,076,543
Long-term debt	3,254,280	2,061,023
Other long-term liabilities	446,048	438,939
Deferred income taxes	176,860	45,656
Total liabilities	6,295,754	4,622,161
Stockholders’ equity:
Preferred stock, shares issued: none in 2018 and 2017	0	0
Additional paid-in capital	982,205	924,978
Retained earnings	7,032,020	6,371,082
Treasury—common stock shares, at cost: 150,172,840 in 2018 and 149,040,927 in 2017	(6,618,625)	(6,426,877)
Accumulated other comprehensive loss	(356,780)	(313,746)
Total—The Hershey Company stockholders’ equity	1,398,721	915,338
Noncontrolling interest in subsidiary	8,545	16,227
Total stockholders’ equity	1,407,266	931,565
Total liabilities and stockholders’ equity	7,703,020	5,553,726
Common stock
Stockholders’ equity:
Common stock	299,287	299,281
Class B common stock
Stockholders’ equity:
Common stock	$ 60,614	$ 60,620

CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Dec. 31, 2018	Dec. 31, 2017
Preferred stock, shares issued (shares)	0	0
Common stock, shares issued (shares)	359,901,744	359,901,744
Treasury stock, shares (shares)	150,172,840	149,040,927
Common stock
Common stock, shares issued (shares)	299,287,967	299,281,967
Class B common stock
Common stock, shares issued (shares)	60,613,777	60,619,777

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Cash Flows [Abstract]
Interest Paid, Including Capitalized Interest, Operating and Investing Activities	$ 132,486
Net income including noncontrolling interest	1,171,051	$ 756,537	$ 720,044
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	295,144	261,853	301,837
Stock-based compensation expense	49,286	51,061	54,785
Deferred income taxes	36,255	18,582	(38,097)
Impairment of long-lived and intangible assets (see Notes 3 and 7)	57,729	208,712	4,204
Write-down of equity investments	50,329	66,209	43,482
Gain on settlement of SGM liability (see Note 2)	0	0	(26,650)
Other	37,278	77,291	51,375
Changes in assets and liabilities, net of business acquisitions and divestitures:
Accounts receivable—trade, net	8,585	(6,881)	21,096
Inventories	(12,746)	(71,404)	13,965
Prepaid expenses and other current assets	(39,899)	18,214	(42,955)
Accounts payable and accrued liabilities	(100,252)	(52,960)	(63,467)
Accrued income taxes	75,568	(71,027)	(937)
Contributions to pension and other benefit plans	(25,864)	(56,433)	(41,697)
Other assets and liabilities	(2,471)	49,761	16,443
Net cash provided by operating activities	1,599,993	1,249,515	1,013,428
Investing Activities
Capital additions (including software)	(328,601)	(257,675)	(269,476)
Proceeds from sales of property, plant and equipment and other long-lived assets	49,759	7,609	3,651
Proceeds from sales of businesses, net of cash and cash equivalents divested	167,048	0	0
Equity investments in tax credit qualifying partnerships	(52,641)	(78,598)	(44,255)
Business acquisitions, net of cash and cash equivalents acquired	(1,338,459)	0	(285,374)
Net cash used in investing activities	(1,502,894)	(328,664)	(595,454)
Financing Activities
Net increase (decrease) in short-term debt	645,805	(81,426)	275,607
Long-term borrowings	1,199,845	954	792,953
Repayment of long-term debt	(910,844)	0	(500,000)
Repayment of tax receivable obligation	(72,000)	0	0
Payment of SGM liability (see Note 2)	0	0	35,762
Cash dividends paid	(562,521)	(526,272)	(499,475)
Repurchase of common stock	(247,500)	(300,312)	(592,550)
Exercise of stock options	63,323	63,288	94,831
Net cash provided by (used in) financing activities	116,108	(843,768)	(464,396)
Effect of exchange rate changes on cash and cash equivalents	(5,388)	6,129	(3,140)
Increase (decrease) in cash and cash equivalents	207,819	83,212	(49,562)
Cash and cash equivalents, beginning of period	380,179	296,967	346,529
Cash and cash equivalents, end of period	587,998	380,179	296,967
Supplemental Disclosure
Interest paid		101,874	90,951
Income taxes paid	$ 118,842	$ 351,832	$ 425,539

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - 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	Selling, marketing and administrative	Selling, marketing and administrative Noncontrolling Interests in Subsidiaries
Beginning balance, stockholders' equity at Dec. 31, 2015	$ 1,047,462			$ 0	$ 299,281	$ 60,620	$ 783,877	$ 5,897,603			$ (5,672,359)	$ (371,025)	$ 49,465
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to The Hershey Company	720,044							720,044
Net income (loss) attributable to noncontrolling interests	0													$ (3,970)	$ (3,970)
Net income including noncontrolling interest	720,044
Other comprehensive income (loss)	(8,527)											(4,863)	(3,664)
Dividends (including dividend equivalents):
Common Stock		$ (369,292)	$ (132,394)						$ (369,292)	$ (132,394)
Stock-based compensation	54,429						54,429
Exercise of stock options and incentive-based transactions	112,485						31,551				80,934
Repurchase of common stock	(592,550)										(592,550)
Ending balance, stockholders' equity at Dec. 31, 2016	827,687			0	299,281	60,620	869,857	6,115,961			(6,183,975)	(375,888)	41,831
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to The Hershey Company	782,981							782,981
Net income (loss) attributable to noncontrolling interests	(26,444)
Net income including noncontrolling interest	756,537
Other comprehensive income (loss)	62,982											62,142	840
Dividends (including dividend equivalents):
Common Stock		(387,466)	(140,394)						(387,466)	(140,394)
Stock-based compensation	49,243						49,243
Exercise of stock options and incentive-based transactions	63,288						5,878				57,410
Repurchase of common stock	(300,312)										(300,312)
Ending balance, stockholders' equity at Dec. 31, 2017	931,565			0	299,281	60,620	924,978	6,371,082			(6,426,877)	(313,746)	16,227
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to The Hershey Company	1,177,562							1,177,562
Net income (loss) attributable to noncontrolling interests	(6,511)												(6,511)
Net income including noncontrolling interest	1,171,051
Other comprehensive income (loss)	3,451											4,622	(1,171)
Dividends (including dividend equivalents):
Common Stock		$ (412,491)	$ (151,789)						$ (412,491)	$ (151,789)
Stock Issued During Period, Value, Conversion of Convertible Securities					6	(6)
Stock-based compensation	49,656						49,656
Exercise of stock options and incentive-based transactions	63,323						7,571				55,752
Repurchase of common stock	(247,500)										(247,500)
Tax cuts and jobs act, reclassification from aoci to retained earnings, tax effect								47,656				(47,656)
Ending balance, stockholders' equity at Dec. 31, 2018	$ 1,407,266			$ 0	$ 299,287	$ 60,614	$ 982,205	$ 7,032,020			$ (6,618,625)	$ (356,780)	$ 8,545

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Description of Business

The Hershey Company together with its wholly-owned subsidiaries and entities in which it has a controlling interest, (the “Company,” “Hershey,” “we” or “us”) is a global confectionery leader known for its branded portfolio of chocolate, sweets, mints and other great-tasting snacks. The Company has more than 80 brands worldwide including such iconic brand names as Hershey’s, Reese’s, Kisses, Jolly Rancher and Ice Breakers, which are marketed, sold and distributed in approximately 90 countries worldwide. Hershey's structure is designed to ensure continued focus on North America, coupled with an emphasis on profitable growth in our focus international markets. The Company currently operates through two reportable segments that are aligned with its management structure and the key markets it serves: North America and International and Other. For additional information on our segment presentation, see Note 12.

Basis of Presentation

Our consolidated financial statements include the accounts of The Hershey Company and its majority-owned or controlled subsidiaries. Intercompany transactions and balances have been eliminated. We have a controlling financial interest if we own a majority of the outstanding voting common stock and minority shareholders do not have substantive participating rights, we have significant control through contractual or economic interests in which we are the primary beneficiary or we have the power to direct the activities that most significantly impact the entity's economic performance. Net income (loss) attributable to noncontrolling interests in 2016 was not considered significant and was recorded within selling, marketing and administrative expense in the Consolidated Statements of Income. See Note 13 for additional information on our noncontrolling interest. We use the equity method of accounting when we have a 20% to 50% interest in other companies and exercise significant influence. In addition, we use the equity method of accounting for our investments in partnership entities which make equity investments in projects eligible to receive federal historic and energy tax credits. See Note 9 for additional information on our equity investments in partnership entities qualifying for tax credits.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying disclosures. Our significant estimates and assumptions include, among others, pension and other post-retirement benefit plan assumptions, valuation assumptions of goodwill and other intangible assets, useful lives of long-lived assets, marketing and trade promotion accruals and income taxes. These estimates and assumptions are based on management’s best judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and the effects of any revisions are reflected in the consolidated financial statements in the period that they are determined. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates.

Revenue Recognition

The majority of our revenue contracts represent a single performance obligation related to the fulfillment of customer orders for the purchase of our products, including chocolate, sweets, mints and other grocery and snack offerings. Net sales reflect the transaction prices for these contracts based on our selling list price which is then reduced by estimated costs for trade promotional programs, consumer incentives, and allowances and discounts associated with aged or potentially unsaleable products. We recognize revenue at the point in time that control of the ordered product(s) is transferred to the customer, which is typically upon delivery to the customer or other customer-designated delivery point. Amounts billed and due from our customers are classified as accounts receivables on the balance sheet and require payment on a short-term basis.

Our trade promotional programs and consumer incentives are used to promote our products and include, but are not limited to, discounts, coupons, rebates, in-store display incentives, and volume-based incentives. The estimated costs

associated with these programs and incentives are based upon our analysis of the programs offered, expectations regarding customer and consumer participation, historical sales and payment trends, and our experience with payment patterns associated with similar programs offered in the past. The estimated costs of these programs are reasonably likely to change in future periods due to changes in trends with regard to customer and consumer participation, particularly for new programs and for programs related to the introduction of new products. Differences between estimated expense and actual program performance are recognized as a change in estimate in a subsequent period and are normally not significant. During 2018, 2017 and 2016, actual promotional costs have not deviated from the estimated amount by more than 3%. The Company’s unsettled portion remaining in accrued liabilities at year-end for these activities was $171,449 and $173,669 at December 31, 2018 and 2017, respectively.

We also recognize a minor amount of royalty income (less than 1% of our consolidated net sales) from sales-based licensing arrangements, pursuant to which revenue is recognized as the third-party licensee sales occur. Shipping and handling costs incurred to deliver product to the customer are recorded within cost of sales. Sales, value add, and other taxes we collect concurrent with revenue producing activities are excluded from revenue.

The majority of our products are confectionery or confectionery-based and, therefore, exhibit similar economic characteristics, as they are based on similar ingredients and are marketed and sold through the same channels to the same customers. In connection with our recent acquisitions, we have expanded our portfolio of snacking products, which also exhibit similar economic characteristics to our confectionery products and are sold through the same channels to the same customers. See Note 12 for revenues reported by geographic segment, which is consistent with how we organize and manage our operations, as well as product line net sales information.

In 2018, 2017 and 2016, approximately 28%, 29% and 25%, respectively, of our consolidated net sales were made to McLane Company, Inc., one of the largest wholesale distributors in the United States to convenience stores, drug stores, wholesale clubs and mass merchandisers and the primary distributor of our products to Wal-Mart Stores, Inc.

Cost of Sales

Cost of sales represents costs directly related to the manufacture and distribution of our products. Primary costs include raw materials, packaging, direct labor, overhead, shipping and handling, warehousing and the depreciation of manufacturing, warehousing and distribution facilities. Manufacturing overhead and related expenses include salaries, wages, employee benefits, utilities, maintenance and property taxes.

Selling, Marketing and Administrative Expense

Selling, marketing and administrative expense (“SM&A”) represents costs incurred in generating revenues and in managing our business. Such costs include advertising and other marketing expenses, selling expenses, research and development costs, administrative and other indirect overhead costs, amortization of capitalized software and intangible assets and depreciation of administrative facilities. Research and development costs, charged to expense as incurred, totaled $38,521 in 2018, $45,850 in 2017 and $47,268 in 2016. Advertising expense is also charged to expense as incurred and totaled $479,908 in 2018, $541,293 in 2017 and $521,479 in 2016. Prepaid advertising expense was $594 and $56 as of December 31, 2018 and 2017, respectively.

Cash Equivalents

Cash equivalents consist of highly liquid debt instruments, time deposits and money market funds with original maturities of three months or less. The fair value of cash and cash equivalents approximates the carrying amount.

Short-term Investments

Short-term investments consist of bank term deposits that have original maturity dates ranging from greater than three months to twelve months. Short-term investments are carried at cost, which approximates fair value.

Accounts Receivable—Trade

In the normal course of business, we extend credit to customers that satisfy pre-defined credit criteria, based upon the results of our recurring financial account reviews and our evaluation of current and projected economic conditions. Our primary concentrations of credit risk are associated with McLane Company, Inc. and Target Corporation, two customers served principally by our North America segment. As of December 31, 2018, McLane Company, Inc. accounted for approximately 26% of our total accounts receivable. No other customer accounted for more than 10% of our year-end accounts receivable. We believe that we have little concentration of credit risk associated with the remainder of our customer base. Accounts receivable-trade in the Consolidated Balance Sheets is presented net of allowances for bad debts and anticipated discounts of $24,610 and $41,792 at December 31, 2018 and 2017, respectively.

Inventories

Inventories are valued at the lower of cost or market value, adjusted for the value of inventory that is estimated to be excess, obsolete or otherwise unsaleable. As of December 31, 2018, approximately 60% of our inventories, representing the majority of our U.S. inventories, were valued under the last-in, first-out (“LIFO”) method. The remainder of our inventories in the U.S. and inventories for our international businesses were valued at the lower of first-in, first-out (“FIFO”) cost or net realizable value. LIFO cost of inventories valued using the LIFO method was $466,911 as of December 31, 2018 and $443,492 as of December 31, 2017. The adjustment to LIFO, as shown in Note 17, approximates the excess of replacement cost over the stated LIFO inventory value. The net impact of LIFO acquisitions and liquidations was not material to 2018, 2017 or 2016.

Property, Plant and Equipment

Property, plant and equipment is stated at cost and depreciated on a straight-line basis over the estimated useful lives of the assets, as follows: 3 to 15 years for machinery and equipment; and 25 to 40 years for buildings and related improvements. At December 31, 2018 and December 31, 2017, property, plant and equipment included assets under capital lease arrangements with net book values totaling $110,249 and $116,843, respectively. Total depreciation expense for the years ended December 31, 2018, 2017 and 2016 was $231,012, $211,592 and $231,735, respectively, and included depreciation on assets recorded under capital lease arrangements. Maintenance and repairs are expensed as incurred. We capitalize applicable interest charges incurred during the construction of new facilities and production lines and amortize these costs over the assets’ estimated useful lives.

We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. We measure the recoverability of assets to be held and used by a comparison of the carrying amount of long-lived assets to future undiscounted net cash flows expected to be generated. If these assets are considered to be impaired, we measure impairment as the amount by which the carrying amount of the assets exceeds the fair value of the assets. We report assets held for sale or disposal at the lower of the carrying amount or fair value less cost to sell.

We assess asset retirement obligations on a periodic basis and recognize the fair value of a liability for an asset retirement obligation in the period in which it is incurred if a reasonable estimate of fair value can be made. We capitalize associated asset retirement costs as part of the carrying amount of the long-lived asset.

Computer Software

We capitalize costs associated with software developed or obtained for internal use when both the preliminary project stage is completed and it is probable the software being developed will be completed and placed in service. Capitalized costs include only (i) external direct costs of materials and services consumed in developing or obtaining internal-use software, (ii) payroll and other related costs for employees who are directly associated with and who devote time to the internal-use software project and (iii) interest costs incurred, when material, while developing internal-use software. We cease capitalization of such costs no later than the point at which the project is substantially complete and ready for its intended purpose.

The unamortized amount of capitalized software totaled $126,379 and $104,881 at December 31, 2018 and 2017, respectively. We amortize software costs using the straight-line method over the expected life of the software, generally 3 to 7 years. Accumulated amortization of capitalized software was $316,710 and $296,042 as of

December 31, 2018 and 2017, respectively. Such amounts are recorded within other assets in the Consolidated Balance Sheets.

We review the carrying value of software and development costs for impairment in accordance with our policy pertaining to the impairment of long-lived assets.

Goodwill and Other Intangible Assets

Goodwill and indefinite-lived intangible assets are not amortized, but are evaluated for impairment annually or more often if indicators of a potential impairment are present. Our annual impairment tests are conducted at the beginning of the fourth quarter. We test goodwill for impairment by performing either a qualitative or quantitative assessment. If we choose to perform a qualitative assessment, we evaluate economic, industry and company-specific factors in assessing the fair value of the related reporting unit. If we determine that it is more likely than not that the fair value of the reporting unit is less than its carrying value, a quantitative test is then performed. Otherwise, no further testing is required. For those reporting units tested using a quantitative approach, we compare the fair value of each reporting unit with the carrying amount of the reporting unit, including goodwill. If the estimated fair value of the reporting unit is less than the carrying amount of the reporting unit, impairment is indicated, requiring recognition of a goodwill impairment charge for the differential (up to the carrying value of goodwill). We test individual indefinite-lived intangible assets by comparing the estimated fair values with the book values of each asset.

We determine the fair value of our reporting units and indefinite-lived intangible assets using an income approach. Under the income approach, we calculate the fair value of our reporting units and indefinite-lived intangible assets based on the present value of estimated future cash flows. Considerable management judgment is necessary to evaluate the impact of operating and macroeconomic changes and to estimate the future cash flows used to measure fair value. Our estimates of future cash flows consider past performance, current and anticipated market conditions and internal projections and operating plans which incorporate estimates for sales growth and profitability, and cash flows associated with taxes and capital spending. Additional assumptions include forecasted growth rates, estimated discount rates, which may be risk-adjusted for the operating market of the reporting unit, and estimated royalty rates that would be charged for comparable branded licenses. We believe such assumptions also reflect current and anticipated market conditions and are consistent with those that would be used by other marketplace participants for similar valuation purposes. Such assumptions are subject to change due to changing economic and competitive conditions. See Note 3 for additional information regarding the results of impairment tests.

The cost of intangible assets with finite useful lives is amortized on a straight-line basis. Our finite-lived intangible assets consist primarily of certain trademarks, customer-related intangible assets and patents obtained through business acquisitions. The weighted-average amortization period for our finite-lived intangible assets is approximately 27 years, which is primarily driven by recently acquired trademarks. If certain events or changes in operating conditions indicate that the carrying value of these assets, or related asset groups, may not be recoverable, we perform an impairment assessment and may adjust the remaining useful lives.

Currency Translation

The financial statements of our foreign entities with functional currencies other than the U.S. dollar are translated into U.S. dollars, with the resulting translation adjustments recorded as a component of other comprehensive income (loss). Assets and liabilities are translated into U.S. dollars using the exchange rates in effect at the balance sheet date, while income and expense items are translated using the average exchange rates during the period.

Derivative Instruments

We use derivative instruments principally to offset exposure to market risks arising from changes in commodity prices, foreign currency exchange rates and interest rates. See Note 5 for additional information on our risk management strategy and the types of instruments we use.

Derivative instruments are recognized on the balance sheet at their fair values. When we become party to a derivative instrument and intend to apply hedge accounting, we designate the instrument for financial reporting purposes as a cash flow or fair value hedge. The accounting for changes in fair value (gains or losses) of a derivative instrument depends on whether we have designated it and it qualified as part of a hedging relationship, as noted below:


•	Changes in the fair value of a derivative that is designated as a cash flow hedge are recorded in accumulated other comprehensive income (“AOCI”) to the extent effective and reclassified into earnings in the same period or periods during which the transaction hedged by that derivative also affects earnings.


•	Changes in the fair value of a derivative that is designated as a fair value hedge, along with the offsetting loss or gain on the hedged asset or liability that is attributable to the risk being hedged, are recorded in earnings, thereby reflecting in earnings the net extent to which the hedge is not effective in achieving offsetting changes in fair value.


•	Changes in the fair value of a derivative not designated as a hedging instrument are recognized in earnings in cost of sales or SM&A, consistent with the related exposure.

For derivatives designated as hedges, we assess, both at the hedge's inception and on an ongoing basis, whether they are highly effective in offsetting changes in fair values or cash flows of hedged items. The ineffective portion, if any, is recorded directly in earnings. In addition, if we determine that a derivative is not highly effective as a hedge or that it has ceased to be a highly effective hedge, we discontinue hedge accounting prospectively.

We do not hold or issue derivative instruments for trading or speculative purposes and are not a party to any instruments with leverage or prepayment features.

Cash flows related to the derivative instruments we use to manage interest, commodity or other currency exposures are classified as operating activities.

Recent Accounting Pronouncements

Recently Adopted Accounting Pronouncements

In February 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. This ASU permits a company to reclassify the income tax effects of the 2017 Tax Cuts and Jobs Act (“U.S. tax reform”) on items within AOCI to retained earnings. We adopted the provisions of this ASU in the first quarter of 2018. We elected to reclassify the income tax effects of U.S. tax reform from items in AOCI as of January 1, 2018 so that the tax effects of items within AOCI are reflected at the appropriate tax rate. The impact of the reclassification resulted in a $47,656 decrease to AOCI and a corresponding increase to retained earnings.

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 the years ended December 31, 2017 and 2016 to correspond to the current year presentation:



	2017		2016
Reclassified from:
Cost of sales	$	10,857	$	11,648
Selling, marketing and administrative expense	27,911		24,073
Business realignment costs	—		13,669
Reclassified to Other (income) expense, net	$	38,768	$	49,390

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

In May 2014, the FASB issued 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 the amendments related thereto and applied the new requirements to all of our contracts using the modified retrospective method. Upon completing our implementation assessment of ASC Topic 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 2016, the FASB issued ASU No. 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. We adopted the provisions of this ASU in the first quarter of 2017. This update principally affects the recognition of excess tax benefits and deficiencies and the cash flow classification of share-based compensation-related transactions. These classification requirements were adopted retrospectively to the Consolidated Statement of Cash Flows. As a result, for the year ended December 31, 2017, the impact resulted in a $24,901 increase in net cash flow from operating activities and a corresponding $24,901 decrease in net cash flow from financing activities. For the year ended December 31, 2016, the impact resulted in a $29,953 increase in net cash flow from operating activities and a corresponding $29,953 decrease in net cash flow from financing activities.

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. The Company adopted the standard as of January 1, 2019, using a modified retrospective approach and applying the standard’s transition provisions at January 1, 2019, the effective date.

We elected the package of practical expedients permitted under the transition guidance, which among other things, allows us to carryforward the historical lease classification. In addition, we elected to combine the lease and non-lease components for the asset categories comprising the majority of our leases and are making an accounting policy election to exclude from balance sheet reporting those leases with initial terms of 12 months or less.

We have implemented new controls and processes, as well as new software functionality, to enable the preparation of financial information as necessitated by the new standard. We estimate that adoption of the standard will result in recognition of operating lease ROU assets and lease liabilities of approximately $230,000 and $220,000, respectively, with the difference largely due to prepaid and deferred rent that will be reclassified to the ROU asset value. In addition, we expect to derecognize a build-to-suit arrangement in accordance with the transition requirements, which will result in an adjustment to retained earnings of approximately $7,000. We do not expect adoption of the standard to materially affect our consolidated net 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 intend to adopt the provisions of this ASU in the first quarter of 2019. We believe the adoption of the new standard will not have a material impact on our consolidated financial statements.

In June 2018, the FASB issued ASU No. 2018-07, Compensation – Stock Compensation (Topic 718), Improvements to Nonemployee Share-Based Payment Accounting. This ASU is intended to simplify aspects of share-based compensation issued to non-employees by making the guidance consistent with accounting for employee share-based compensation. 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 ASC Topic 606. The new guidance is required to be applied retrospectively with the cumulative effect recognized at the date of initial application. 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. The amendments in this ASU should be applied on a retrospective basis to all periods presented. We are currently evaluating the effect that ASU 2018-14 will have on our consolidated financial statements and related disclosures.

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

No other new accounting pronouncement issued or effective during the fiscal year had or is expected to have a material impact on our consolidated financial statements or disclosures.

BUSINESS ACQUISITIONS

12 Months Ended

Dec. 31, 2018

Business Combinations [Abstract]

Business Acquisitions

BUSINESS ACQUISITIONS

Acquisitions of businesses are accounted for as purchases and, accordingly, the results of operations of the businesses acquired have been included in the consolidated financial statements since the respective dates of the acquisitions. The purchase price for each acquisition is allocated to the assets acquired and liabilities assumed.

In conjunction with acquisitions noted below, we used various valuation techniques to determine fair value of the assets acquired, with the primary techniques being discounted cash flow analysis, relief-from-royalty, 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.

2018 Activity

Pirate Brands

On October 17, 2018, we completed the acquisition of Pirate Brands, which includes the Pirate's Booty, Smart Puffs and Original Tings brands, from B&G Foods, Inc. Pirate Brands offers baked, trans fat free and gluten free snacks and is available in a wide range of food distribution channels in the United States. Pirate Brands is expected to generate annualized net sales of approximately $90,000 in 2019. The purchase consideration for Pirate Brands totaled $423,002 and consisted of short-term borrowings and cash on hand. Acquisition-related costs for the Pirate Brands acquisition were immaterial.

The acquisition has been accounted for as a purchase and, accordingly, Pirate Brands' results of operations have been included within the North America segment results in our consolidated financial statements since the date of acquisition. The purchase consideration was allocated to assets acquired and liabilities assumed based on their respective fair values as follows:



Inventories	$	4,663
Plant, property and equipment, net	48
Goodwill	129,991
Other intangible assets	289,300
Accrued liabilities	(1,000		)
Net assets acquired	$	423,002

The purchase price allocation presented above has been finalized as of the end of the fourth quarter of 2018.

Goodwill was determined as the excess of the purchase price over the fair value of the net assets acquired (including the identifiable intangible assets). The goodwill derived from this acquisition is expected to be deductible for tax purposes and reflects the value of leveraging the Company's resources to expand the distribution locations and customer base for the Pirate Brands' products.

Other intangible assets includes trademarks valued at $272,000 and customer relationships valued at $17,300. Trademarks were assigned estimated useful lives of 45 years and customer relationships were assigned estimated useful lives ranging from 16 to 18 years.

Amplify Snack Brands, Inc.

On January 31, 2018, we completed the acquisition of all of the outstanding shares of Amplify Snack Brands, Inc. (“Amplify”), previously a publicly traded company based in Austin, Texas that owns several popular better-for-you snack brands such as SkinnyPop, Oatmega and Paqui. Amplify's anchor brand, SkinnyPop, is a market-leading ready-to-eat popcorn brand and is available in a wide range of food distribution channels in the United States. Total consideration of $968,781 included payment of $12.00 per share for Amplify's outstanding common stock (for a total of $907,766), as well as payment of Amplify's transaction related expenses, including accelerated equity compensation, consultant fees and other deal costs. The business enables us to capture more consumer snacking occasions by contributing a new portfolio of brands.

The acquisition has been accounted for as a purchase and, accordingly, Amplify's results of operations have been included within the North America segment results in our consolidated financial statements since the date of acquisition. The purchase 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 proceeds from the issuance of commercial paper.

During 2018, we recorded measurement period adjustments totaling $27,001, the majority of which related to an increase in the final valuation of the assumed tax receivable obligation. The purchase price allocation has been finalized as of the end of the fourth quarter of 2018.

Goodwill was determined as the excess of the purchase price over the fair value of the net assets acquired (including the identifiable intangible assets) and is not expected to be deductible for tax purposes. The goodwill that resulted from the acquisition is attributable primarily to cost-reduction synergies as Amplify leverages Hershey's resources, expertise and capability-building.

Other intangible assets includes trademarks valued at $648,000 and customer relationships valued at $34,000. Trademarks were assigned estimated useful lives ranging from 28 to 38 years and customer relationships were assigned estimated useful lives ranging from 14 to 18 years.

The Company incurred acquisition-related costs of $20,577 related to the acquisition of Amplify, the majority of which were incurred during the first quarter of 2018. Acquisition-related costs consisted primarily of legal fees, consultant fees, valuation fees and other deal costs and are recorded in the selling, marketing and administrative expense caption within the Consolidated Statements of Operations.

2016 Activity

Ripple Brand Collective, LLC

On April 26, 2016, we completed the acquisition of all of the outstanding shares of Ripple Brand Collective, LLC, a privately held company that owned the barkTHINS mass premium chocolate snacking brand. The barkTHINS brand is largely sold in the United States in take-home resealable packages and is available in the club channel, as well as select natural and conventional grocers.

The purchase consideration was allocated to assets acquired and liabilities assumed based on their respective fair values as follows:



Goodwill	$	128,110
Trademarks	91,200
Other intangible assets	60,900
Other assets, primarily current assets, net of cash acquired totaling $674	12,375
Current liabilities	(7,211		)
Net assets acquired	$	285,374

Goodwill was calculated as the excess of the purchase price over the fair value of the net assets acquired. The goodwill resulting from the acquisition is attributable primarily to the value of leveraging our brand building expertise, consumer insights, supply chain capabilities and retail relationships to accelerate growth and access to barkTHINS products. Acquired trademarks were assigned estimated useful lives of 27 years, while other intangibles, including customer relationships and covenants not to compete, were assigned estimated useful lives ranging from 2 to 14 years. The recorded goodwill, trademarks and other intangibles are expected to be deductible for tax purposes.

Shanghai Golden Monkey

In September 2014, we completed the acquisition of 80% of the outstanding shares of Shanghai Golden Monkey Food Joint Stock Co., Ltd. (“SGM”), a confectionery company based in Shanghai, China, whose product line is primarily sold through traditional trade channels. The acquisition was undertaken in order to leverage these traditional trade channels, which complemented our traditional China chocolate business that has historically been primarily distributed through Tier 1 or hypermarket channels.

On February 3, 2016, we completed the purchase of the remaining 20% of the outstanding shares of SGM for cash consideration totaling $35,762, pursuant to a new agreement entered into during the fourth quarter of 2015 with the selling SGM shareholders which revised the originally-agreed purchase price for these shares. For accounting purposes, we treated the acquisition as if we had acquired 100% at the initial acquisition date in 2014 and financed the payment for the remaining 20% of the outstanding shares. Therefore, the cash settlement of the liability for the purchase of these remaining shares is reflected within the financing section of the Consolidated Statements of Cash Flows.

The final settlement also resulted in an extinguishment gain of $26,650 representing the net carrying amount of the recorded liability in excess of the cash paid to settle the obligation for the remaining 20% of the outstanding shares. This gain is recorded within non-operating other (income) expense, net within the Consolidated Statements of Income.

In July 2018, we sold the SGM business. Refer to Note 6 and Note 7 for further discussion regarding the divestiture of SGM.

GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 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 years ended December 31, 2018 and 2017 are as follows:



	North America			International and Other			Total
Goodwill	$	797,163		$	377,529		$	1,174,692
Accumulated impairment loss	(4,973		)	(357,375		)	(362,348		)
Balance at January 1, 2017	792,190			20,154			812,344
Foreign currency translation	7,739			978			8,717
Balance at December 31, 2017	799,929			21,132			821,061
Acquired during the period (see Note 2)	1,069,379			—			1,069,379
Purchase price allocation adjustments (see Note 2)	27,001			—			27,001
Divested during the period (see Note 7)	(98,379		)	—			(98,379		)
Foreign currency translation	(15,085		)	(2,874		)	(17,959		)
Balance at December 31, 2018	$	1,782,845		$	18,258		$	1,801,103

We had no goodwill impairment charges in 2018, 2017 or 2016.

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



December 31,	2018					2017
	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Intangible assets subject to amortization:
Trademarks	$	1,173,770	$	(60,995	)	$	277,473	$	(37,510	)
Customer-related	163,860		(33,516		)	128,182		(34,659		)
Patents	16,306		(15,772		)	17,009		(15,975		)
Total	1,353,936		(110,283		)	422,664		(88,144		)

Intangible assets not subject to amortization:
Trademarks	34,639					34,636
Total other intangible assets	$	1,278,292				$	369,156

As discussed in Note 8, in February 2017, we commenced the Margin for Growth Program which included an initiative to optimize the manufacturing operations supporting our China business. We deemed this to be a triggering event requiring us to test our China long-lived asset group for impairment by first determining whether the carrying value of the asset group was recovered by our current estimates of future cash flows associated with the asset group. Because this assessment indicated that the carrying value was not recoverable, we calculated an impairment loss as the excess of the asset group's carrying value over its fair value. The resulting impairment loss was allocated to the asset group's long-lived assets. Therefore, as a result of this testing, during the first quarter of 2017, we recorded an impairment charge totaling $105,992 representing the portion of the impairment loss that was allocated to the distributor relationship and trademark intangible assets that had been recognized in connection with the 2014 SGM acquisition.

In connection with our annual impairment testing of indefinite lived intangible assets for 2016, we recognized a trademark impairment charge of $4,204, primarily resulting from plans to discontinue a brand sold in India.

Total amortization expense for the years ended December 31, 2018, 2017 and 2016 was $38,555, $23,376 and $26,687, respectively.

Amortization expense for the next five years, based on current intangible asset balances, is estimated to be as follows:



Year ending December 31,	2019		2020		2021		2022		2023
Amortization expense	$	44,565	$	43,986	$	43,971	$	43,971	$	43,971

SHORT AND LONG-TERM DEBT

12 Months Ended

Dec. 31, 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 $1.4 billion unsecured revolving credit facility, which currently expires in November 2020.

The unsecured committed revolving credit agreement contains a financial covenant whereby the ratio of (a) pre-tax income from operations from the most recent four fiscal quarters to (b) consolidated interest expense for the most recent four fiscal quarters may not be less than 2.0 to 1.0 at the end of each fiscal quarter. The credit agreement also contains customary representations, warranties and events of default. Payment of outstanding advances may be accelerated, at the option of the lenders, should we default in our obligation under the credit agreement. As of December 31, 2018, we are in compliance with all customary affirmative and negative covenants and the financial covenant pertaining to our credit agreement. There were no significant compensating balance agreements that legally restricted these funds.

In addition to the revolving credit facility, we maintain lines of credit with domestic and international commercial banks. Our credit limit in various currencies was $386,590 at December 31, 2018 and $440,148 at December 31, 2017. These lines permit us to borrow at the respective banks’ prime commercial interest rates, or lower. We had short-term foreign bank loans against these lines of credit for $113,189 at December 31, 2018 and $110,684 at December 31, 2017. Commitment fees relating to our revolving credit facility and lines of credit are not material.

At December 31, 2018, we had outstanding commercial paper totaling $1,084,740, at a weighted average interest rate of 2.4%. At December 31, 2017, we had outstanding commercial paper totaling $448,675, at a weighted average interest rate of 1.4%.

The maximum amount of short-term borrowings outstanding during 2018 and 2017 was $2,246,485 and $815,588, respectively. The weighted-average interest rate on short-term borrowings outstanding was 2.5% as of December 31, 2018 and 1.7% as of December 31, 2017.

Long-term Debt

Long-term debt consisted of the following:



December 31,	2018			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 (3)	500,000			500,000
7.2% Debentures due 2027	193,639			193,639
3.375% Notes due 2046 (3)	300,000			300,000
Capital lease obligations	101,980			99,194
Net impact of interest rate swaps, debt issuance costs and unamortized debt discounts	(20,667		)	(16,427		)
Total long-term debt	3,259,667			2,361,121
Less—current portion	5,387			300,098
Long-term portion	$	3,254,280		$	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 "2018 Notes"). Proceeds from the issuance of the 2018 Notes, net of discounts and issuance costs, totaled $1,193,830. The 2018 Notes were issued under a shelf registration statement on Form S-3 filed in June 2015 that registered an indeterminate amount of debt securities.


(3)	In August 2016, we issued $500,000 of 2.30% Notes due in 2026 and $300,000 of 3.375% Notes due in 2046 (the "2016 Notes"). Proceeds from the issuance of the 2016 Notes, net of discounts and issuance costs, totaled $792,953. The 2016 Notes were issued under a shelf registration statement on Form S-3 filed in June 2015 that registered an indeterminate amount of debt securities.

Additionally, in September 2016, we repaid $250,000 of 5.45% Notes due in 2016 upon their maturity. In November 2016, we repaid $250,000 of 1.50% Notes due in 2016 upon their maturity

Aggregate annual maturities of our long-term Notes (excluding capital lease obligations and net impact of interest rate swaps, debt issuance costs and unamortized debt discounts) are as follows for the years ending December 31:



2019	$	—
2020	700,000
2021	434,715
2022	—
2023	750,000
Thereafter	1,293,639

Our debt is principally unsecured and of equal priority. None of our debt is convertible into our Common Stock.

Interest Expense

Net interest expense consists of the following:



For the years ended December 31,	2018			2017			2016
Interest expense	$	151,950		$	104,232		$	97,851
Capitalized interest	(5,092		)	(4,166		)	(5,903		)
Interest expense	146,858			100,066			91,948
Interest income	(8,021		)	(1,784		)	(1,805		)
Interest expense, net	$	138,837		$	98,282		$	90,143

DERIVATIVE INSTRUMENTS

12 Months Ended

Dec. 31, 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 3- to 24-month periods. Our open commodity derivative contracts had a notional value of $693,463 as of December 31, 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 3 to 12 months. The contracts are either designated as cash flow hedges or are undesignated. The net notional amount of foreign exchange contracts accounted for as cash flow hedges was $29,458 at December 31, 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 $11,072 at December 31, 2018 and $2,791 at December 31, 2017. 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 December 31, 2018 and 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. During 2016, we had one interest rate swap agreement in a cash flow hedging relationship with a notional amount of $500,000, which was settled in connection with the issuance of debt in August 2016, resulting in a payment of approximately $87,000 which is reflected as an operating cash flow within the Consolidated Statement of Cash Flows.

Equity Price Risk

We are exposed to market price changes in certain broad market indices related to our deferred compensation obligations to our employees. To mitigate this risk, we use equity swap contracts to hedge the portion of the exposure that is linked to market-level equity returns. These contracts are not designated as hedges for accounting purposes and are entered into for periods of 3 to 12 months. The change in fair value of these derivatives is recorded in selling, marketing and administrative expense, together with the change in the related liabilities. The notional amount of the contracts outstanding at December 31, 2018 and 2017 was $33,168 and $25,246, respectively.

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



December 31,	2018				2017
	Assets (1)		Liabilities (1)		Assets (1)		Liabilities (1)
Derivatives designated as cash flow hedging instruments:
Foreign exchange contracts	$	3,394	$	485	$	423	$	1,427

Derivatives designated as fair value hedging instruments:
Interest rate swap agreements	—		4,832		—		1,897

Derivatives not designated as hedging instruments:
Commodities futures and options (2)	7,230		262		390		3,054
Deferred compensation derivatives	—		4,736		1,581		—
Foreign exchange contracts	70		484		31		—
	7,300		5,482		2,002		3,054
Total	$	10,694	$	10,799	$	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 December 31, 2018, amounts reflected on a net basis in assets were assets of $63,978 and liabilities of $57,351, 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 December 31, 2018 and 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 years ended December 31, 2018 and December 31, 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	$	69,379		$	(55,734	)	$	—	$	—		$	—		$	(1,774	)
Foreign exchange contracts	972			(23		)	5,822		(4,931		)	3,906			(3,180		)
Interest rate swap agreements	—			—			—		—			(9,479		)	(9,480		)
Deferred compensation derivatives	(2,173		)	4,497			—		—			—			—
Total	$	68,178		$	(51,260	)	$	5,822	$	(4,931	)	$	(5,573	)	$	(14,434	)


(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 into earnings in the next 12 months was approximately $6,570 as of December 31, 2018. This amount is primarily associated with interest rate swap agreements.

Fair Value Hedges

For the years ended December 31, 2018 and 2017, we recognized net incremental interest expense of $748 and a net benefit to interest expense of $2,660 relating to our fixed-to-floating interest swap arrangements.

FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 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 December 31, 2018 and 2017:



	Assets (Liabilities)
	Level 1		Level 2		Level 3		Total
December 31, 2018:
Derivative Instruments:
Assets:
Foreign exchange contracts (1)	$	—	$	3,464	$	—	$	3,464
Commodities futures and options (4)	7,230		—		—		7,230
Liabilities:
Foreign exchange contracts (1)	—		969		—		969
Interest rate swap agreements (2)	—		4,832		—		4,832
Deferred compensation derivatives (3)	—		4,736		—		4,736
Commodities futures and options (4)	262		—		—		262
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, accounts receivable, accounts payable and short-term debt approximated fair values as of December 31, 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
At December 31,	2018		2017		2018		2017
Current portion of long-term debt	$	5,387	$	299,430	$	5,387	$	300,098
Long-term debt	3,228,877		2,113,296		3,254,280		2,061,023
Total	$	3,234,264	$	2,412,726	$	3,259,667	$	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 acquisitions of Amplify in the first quarter of 2018 and Pirate Brands in the fourth quarter of 2018, as discussed in Note 2, we used various valuation techniques to determine fair value, with the primary techniques being discounted cash flow analysis, relief-from-royalty, and a form of the multi-period excess earnings valuation approaches, which use significant unobservable inputs, or Level 3 inputs, as defined by the fair value hierarchy. In connection with disposal groups classified as held for sale, as discussed in Note 7, during 2018, we recorded impairment charges totaling $57,729 to adjust the long-lived asset values within certain disposal groups, including the SGM and Tyrrells businesses, the Lotte Shanghai Foods Co., Ltd. joint venture and other assets. These charges represent the excess of the disposal groups' carrying values, including the related currency translation adjustment amounts realized or to be realized upon completion of the sales, over the sales values less costs to sell for the respective businesses. The fair values of the disposal groups were supported by the sales prices paid by third-party buyers or estimated sales prices based on marketing of the disposal group, when the sale has not yet been completed. The sales of SGM and Tyrrells were both completed in July 2018.

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 was derived using a combination of an estimated market liquidation approach and discounted cash flow analyses based on Level 3 inputs.

ASSETS AND LIABILITIES HELD FOR SALE ASSETS AND LIABILITIES HELD FOR SALE (Notes)

12 Months Ended

Dec. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Assets and Liabilities Held for Sale

ASSETS AND LIABILITIES HELD FOR SALE

As of December 31, 2018, the following disposal groups have been classified as held for sale, in each case stated at the lower of net book value or estimated sales value less costs to sell:


•	The Lotte Shanghai Foods Co., Ltd. joint venture, which was taken out of operation and classified as held for sale during the second quarter of 2018. We sold a portion of the joint venture's equipment in the third and fourth quarters of 2018, and expect the sale of the remaining business to be completed by mid-2019.


•	Other assets, which are predominantly comprised of select Pennsylvania facilities and land that met the held for sale criteria in the third quarter of 2018. We expect these long-lived assets to be sold by the end of 2019.

The amounts classified as assets and liabilities held for sale at December 31, 2018 include the following:



Assets held for sale, included in prepaid expenses and other assets
Property, plant and equipment, net	$	20,905
Other assets	2,516
	$	23,421

Liabilities held for sale, included in accrued liabilities
Accounts payable and accrued liabilities	$	596
	$	596

During 2018, we completed the sale of other disposal groups that had been previously classified as assets and liabilities held for sale, as follows:


•	In April 2018, we sold the licensing rights for a non-core trademark relating to a brand marketed outside of the United States for sale proceeds of approximately $13,000, realizing a gain on the sale of $2,658, which is recorded in the selling, marketing and administrative expense caption within the Consolidated Statements of Operations.

•

During the second and third quarters of 2018, we sold select China facilities that were taken out of operation and classified as assets held for sale during the first quarter of 2017 in connection with the Operational Optimization Program (as defined in Note 8). Proceeds from the sale of these facilities totaled $27,468, resulting in a gain on the sale of $6,562, which is recorded in the business realignment costs caption within the Consolidated Statements of Operations.

•

In July 2018, we sold the Tyrrells and SGM businesses, both of which were previously classified as held for sale. Total proceeds from the sale of Tyrrells and SGM, net of cash divested, were approximately $167,048. We recorded impairment charges of $33,729 to adjust the book values of the disposal groups to the sales value less costs to sell.

BUSINESS REALIGNMENT ACTIVITIES

12 Months Ended

Dec. 31, 2018

Restructuring and Related Activities [Abstract]

Business Realignment Activities

BUSINESS REALIGNMENT ACTIVITIES

We periodically undertake business realignment activities designed to increase our efficiency and focus our business in support of our key growth strategies. Costs recorded in 2018, 2017 and 2016 related to these activities were as follows:



For the years ended December 31,	2018			2017			2016
Margin for Growth Program:
Severance	$	15,378		$	32,554		$	—
Accelerated depreciation	9,131			6,873			—
Other program costs	30,940			16,407			—
Operational Optimization Program:
Severance	—			13,828			17,872
Gain on sale of facilities	(6,562		)	—			—
Accelerated depreciation	—			—			48,590
Other program costs	2,940			(303		)	21,831
2015 Productivity Initiative:
Other program costs	—			—			5,609
Total	$	51,827		$	69,359		$	93,902

The costs and related benefits of the Margin for Growth Program relate approximately 60% to the North America segment and 40% to the International and Other segment. 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. The costs and related benefits to be derived from the 2015 Productivity Initiative relate primarily to the North America segment. However, segment operating results do not include these business realignment expenses because we evaluate segment performance excluding such costs.

Margin for Growth Program

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

We originally estimated that the Margin for Growth Program would result in total pre-tax charges of $375,000 to $425,000, to be incurred from 2017 to 2019. The majority of the initiatives relating to the program have been executed, with the final initiatives to be completed over approximately the next nine months. To date, we have incurred pre-tax charges to execute the program totaling $336,295. 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 charge resulting from the sale of SGM (see Note 7). In addition to the impairment charges, we have incurred employee separation costs of $47,932 and other business realignment costs of $63,351. We expect the remaining spending on this program to be minimal in 2019, bringing total estimated project costs to approximately $340,000 to $355,000. The cash portion of the total program charges is estimated to be $97,000 to $110,000. The Company reduced its global workforce by approximately 15% as a result of this program, with a majority of the reductions coming from hourly headcount positions outside of the United States.

During 2018, we recognized total costs associated with the Margin for Growth Program of $55,449. 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. During 2017, we recognized total costs associated with the Margin for Growth Program of $55,834. 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.

During 2018, we incurred pre-tax costs totaling $2,940, relating primarily to third-party charges in support of our initiative to optimize our production and supply chain network. In addition, we completed the sale of select China facilities in 2018 that had been taken out of service in connection with the Operational Optimization Program resulting in a gain of $6,562. During 2017 and 2016, we incurred pre-tax costs totaling $13,525 and $88,293, respectively, including non-cash asset-related incremental depreciation costs in 2016, employee related costs, costs to consolidate, and relocate production, and third party costs incurred to execute these activities. This program was completed in 2018.

2015 Productivity Initiative

In mid-2015, we initiated a productivity initiative (the “2015 Productivity Initiative”) intended to move decision making closer to the customer and the consumer, to enable a more enterprise-wide approach to innovation, to more swiftly advance our knowledge agenda, and to provide for a more efficient cost structure, while ensuring that we effectively allocate resources to future growth areas. Overall, the 2015 Productivity Initiative was undertaken to simplify the organizational structure to enhance the Company's ability to rapidly anticipate and respond to the changing demands of the global consumer.

The 2015 Productivity Initiative was executed throughout the third and fourth quarters of 2015, resulting in a net reduction of approximately 300 positions, with the majority of the departures taking place by the end of 2015. The 2015 Productivity Initiative was completed during the third quarter 2016. Final costs incurred in 2016 relating to this program totaled $5,609.

Costs associated with business realignment activities are classified in our Consolidated Statements of Income as follows:



For the years ended December 31,	2018		2017		2016
Cost of sales	$	11,323	$	5,147	$	58,106
Selling, marketing and administrative expense	21,401		16,449		16,939
Business realignment costs	19,103		47,763		18,857
Costs associated with business realignment activities	$	51,827	$	69,359	$	93,902

The following table presents the liability activity for costs qualifying as exit and disposal costs for the year ended December 31, 2018:



	Total
Liability balance at December 31, 2017	$	38,992
2018 business realignment charges (1)	25,940
Cash payments	(50,996		)
Other, net	669
Liability balance at December 31, 2018 (reported within accrued liabilities)	$	14,605

(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

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

The components of income (loss) before income taxes were as follows:



For the years ended December 31,	2018		2017			2016
Domestic	$	1,195,645	$	1,187,825		$	1,395,440
Foreign	214,416		(77,157		)	(295,959		)
Income before income taxes	$	1,410,061	$	1,110,668		$	1,099,481

The components of our provision for income taxes were as follows:



For the years ended December 31,	2018			2017			2016
Current:
Federal	$	151,107		$	314,277		$	391,705
State	38,243			37,628			51,706
Foreign	13,405			(16,356		)	(25,877		)
	202,755			335,549			417,534
Deferred:
Federal	35,035			19,204			(7,706		)
State	7,572			7,573			(452		)
Foreign	(6,352		)	(8,195		)	(29,939		)
	36,255			18,582			(38,097		)
Total provision for income taxes	$	239,010		$	354,131		$	379,437

U.S. Tax Cuts and Jobs Act of 2017

The U.S. Tax Cuts and Jobs Act, enacted in December 2017 (“U.S. tax reform”), significantly changed U.S. corporate income tax laws by, among other things, reducing the U.S. corporate income tax rate to 21% starting in 2018 and creating a territorial tax system with a one-time mandatory tax on previously deferred foreign earnings of U.S. subsidiaries. Under GAAP (specifically, ASC Topic 740), the effects of changes in tax rates and laws on deferred tax balances are recognized in the period in which the new legislation is enacted.

During the fourth quarter of 2017, we recorded a net provisional charge of $32.5 million, which included the estimated impact of the one-time mandatory tax on previously deferred earnings of non-U.S. subsidiaries offset in part by the benefit from revaluation of net deferred tax liabilities based on the new lower corporate income tax rate. During 2018, we recorded net benefits totaling $19.5 million as measurement period adjustments to the net provisional charge. The accounting for income tax effects of U.S. tax reform is complete based on additional tax regulations available as of December 31, 2018. Amounts recorded during 2018 and 2017 are reflected within the respective provision for income taxes in the Consolidated Statements of Income.

Additionally, U.S. tax reform subjects a U.S. shareholder to current tax on global intangible low-taxed income ("GILTI") earned by certain foreign subsidiaries. We have elected to not recognize deferred taxes for temporary differences until such differences reverse as GILTI in future years.

Deferred taxes reflect temporary differences between the tax basis and financial statement carrying value of assets and liabilities. The significant temporary differences that comprised the deferred tax assets and liabilities are as follows:



December 31,	2018			2017
Deferred tax assets:
Post-retirement benefit obligations	$	52,915		$	58,306
Accrued expenses and other reserves	85,180			103,769
Stock-based compensation	30,448			31,364
Derivative instruments	17,423			27,109
Pension	8,921			—
Lease financing obligation	12,284			12,310
Accrued trade promotion reserves	13,670			26,028
Net operating loss carryforwards	161,242			226,142
Capital loss carryforwards	26,670			23,215
Other	9,969			7,748
Gross deferred tax assets	418,722			515,991
Valuation allowance	(239,959		)	(312,148		)
Total deferred tax assets	178,763			203,843
Deferred tax liabilities:
Property, plant and equipment, net	144,044			132,443
Acquired intangibles	161,003			68,476
Inventories	21,366			20,769
Pension	—			969
Other	28,044			23,819
Total deferred tax liabilities	354,457			246,476
Net deferred tax (liabilities) assets	$	(175,694	)	$	(42,633	)
Included in:
Non-current deferred tax assets, net	1,166			3,023
Non-current deferred tax liabilities, net	(176,860		)	(45,656		)
Net deferred tax (liabilities) assets	$	(175,694	)	$	(42,633	)

Changes in deferred tax assets for net operating loss carryforwards resulted primarily from the sale of SGM in July 2018. Changes in the valuation allowance resulted primarily from the sale of SGM and the realization of U.S. capital loss carryforwards for which there was previously a valuation allowance. Changes in the deferred tax liabilities for acquired intangibles resulted primarily from the acquisition of Amplify in January 2018.

The valuation allowances as of December 31, 2018 and 2017 were primarily related to U.S. capital loss carryforwards and various foreign jurisdictions' net operating loss carryforwards and other deferred tax assets that we do not expect to realize.

The following table reconciles the federal statutory income tax rate with our effective income tax rate:



For the years ended December 31,	2018		2017		2016
Federal statutory income tax rate	21.0	%	35.0	%	35.0	%
Increase (reduction) resulting from:
State income taxes, net of Federal income tax benefits	2.7		2.6		3.4
Qualified production income deduction	—		(2.9	)	(3.8	)
Business realignment and impairment charges	0.6		4.3		0.4
Foreign rate differences	(2.0	)	(4.3	)	3.6
Historic and solar tax credits	(3.5	)	(4.8	)	(3.3	)
U.S. tax reform	(1.4	)	2.9		—
Tax contingencies	0.5		0.5		0.1
Other, net	(0.9	)	(1.4	)	(0.9	)
Effective income tax rate	17.0	%	31.9	%	34.5	%

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:



December 31,	2018			2017
Balance at beginning of year	$	42,082		$	36,002
Additions for tax positions taken during prior years	1,174			2,492
Reductions for tax positions taken during prior years	(2,581		)	(1,689		)
Additions for tax positions taken during the current year	61,627			10,018
Settlements	—			(1,481		)
Expiration of statutes of limitations	(4,772		)	(3,260		)
Balance at end of year	$	97,530		$	42,082

The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate was $93,507 as of December 31, 2018 and $37,587 as of December 31, 2017.

We report accrued interest and penalties related to unrecognized tax benefits in income tax expense. We recognized a net tax expense of $1,785 in 2018, a net tax expense of $795 in 2017 and a net tax benefit of $75 in 2016 for interest and penalties. Accrued net interest and penalties were $6,154 as of December 31, 2018 and $4,966 as of December 31, 2017.

We file income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. A number of years may elapse before an uncertain tax position, for which we have unrecognized tax benefits, is audited and finally resolved. While it is often difficult to predict the final outcome or the timing of resolution of any particular uncertain tax position, we believe that our unrecognized tax benefits reflect the most likely outcome. We adjust these unrecognized tax benefits, as well as the related interest, in light of changing facts and circumstances. Settlement of any particular position could require the use of cash. Favorable resolution would be recognized as a reduction to our effective income tax rate in the period of resolution.

The Company’s major taxing jurisdictions currently include the United States (federal and state), as well as various foreign jurisdictions such as Canada, China, Mexico, Brazil, India, Malaysia and Switzerland. The number of years with open tax audits varies depending on the tax jurisdiction, with 2010 representing the earliest tax year that remains open for examination by certain taxing authorities. The U.S. Internal Revenue Service is examining our U.S. federal income tax returns for 2013, 2014 and 2016.

We reasonably expect reductions in the liability for unrecognized tax benefits of approximately $9,637 within the next 12 months because of the expiration of statutes of limitations and settlements of tax audits.

As of December 31, 2018, we had approximately $550,591 of undistributed earnings of our international subsidiaries. We intend to continue to reinvest earnings outside of the United States for the foreseeable future and, therefore, have

not recognized additional tax expense (e.g., foreign withholding taxes due upon repatriation) on these earnings beyond the one-time U.S. repatriation tax due under the 2017 Tax Cuts and Jobs Act.

Investments in Partnerships Qualifying for Tax Credits

We invest in partnerships which make equity investments in projects eligible to receive federal historic and energy tax credits. The investments are accounted for under the equity method and reported within other assets in our Consolidated Balance Sheets. The tax credits, when realized, are recognized as a reduction of tax expense, at which time the corresponding equity investment is written-down to reflect the remaining value of the future benefits to be realized. For the years ended December 31, 2018 and 2017, we recognized investment tax credits and related outside basis difference benefits totaling $60,111 and $74,600, respectively, and we wrote-down the equity investment by $50,329 and $66,209, respectively, to reflect the realization of these benefits. The equity investment write-down is reflected within other (income) expense, net in the Consolidated Statements of Income.

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS

12 Months Ended

Dec. 31, 2018

Retirement Benefits [Abstract]

Pension and Other Post-Retirement Benefit Plans

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS

We sponsor a number of defined benefit pension plans. The primary plans are The Hershey Company Retirement Plan and The Hershey Company Retirement Plan for Hourly Employees. These are cash balance plans that provide pension benefits for most domestic employees hired prior to January 1, 2007. We also sponsor two post-retirement benefit plans: health care and life insurance. The health care plan is contributory, with participants’ contributions adjusted annually. The life insurance plan is non-contributory.

Obligations and Funded Status

A summary of the changes in benefit obligations, plan assets and funded status of these plans is as follows:



	Pension Benefits						Other Benefits
December 31,	2018			2017			2018			2017
Change in benefit obligation
Projected benefit obligation at beginning of year	$	1,117,564		$	1,118,318		$	236,112		$	242,846
Service cost	21,223			20,657			230			263
Interest cost	31,943			40,996			6,923			8,837
Plan amendments	—			(8,473		)	—			—
Actuarial (gain) loss	(50,432		)	40,768			(10,842		)	2,207
Curtailment	(16		)	—			—			—
Settlement	(61,268		)	(44,978		)	—			—
Currency translation and other	(4,674		)	6,749			(1,073		)	889
Benefits paid	(23,134		)	(56,473		)	(16,631		)	(18,930		)
Projected benefit obligation at end of year	1,031,206			1,117,564			214,719			236,112
Change in plan assets
Fair value of plan assets at beginning of year	1,086,226			1,023,676			—			—
Actual return on plan assets	(43,118		)	121,241			—			—
Employer contributions	9,233			37,503			16,631			18,930
Settlement	(61,268		)	(44,978		)	—			—
Currency translation and other	(4,078		)	5,257			—			—
Benefits paid	(23,134		)	(56,473		)	(16,631		)	(18,930		)
Fair value of plan assets at end of year	963,861			1,086,226			—			—
Funded status at end of year	$	(67,345	)	$	(31,338	)	$	(214,719	)	$	(236,112	)

Amounts recognized in the Consolidated Balance Sheets:
Other assets	$	332		$	14,988		$	—		$	—
Accrued liabilities	(1,298		)	(6,916		)	(19,553		)	(20,792		)
Other long-term liabilities	(66,379		)	(39,410		)	(195,166		)	(215,320		)
Total	$	(67,345	)	$	(31,338	)	$	(214,719	)	$	(236,112	)

Amounts recognized in Accumulated Other Comprehensive Income (Loss), net of tax:
Actuarial net (loss) gain	$	(254,735	)	$	(207,659	)	$	17,967		$	8,313
Net prior service credit (cost)	32,350			30,994			(812		)	(1,174		)
Net amounts recognized in AOCI	$	(222,385	)	$	(176,665	)	$	17,155		$	7,139

The accumulated benefit obligation for all defined benefit pension plans was $994,278 as of December 31, 2018 and $1,077,112 as of December 31, 2017.

Plans with accumulated benefit obligations in excess of plan assets were as follows:



December 31,	2018		2017
Projected benefit obligation	$	1,030,382	$	711,767
Accumulated benefit obligation	993,892		675,660
Fair value of plan assets	962,705		665,441

Net Periodic Benefit Cost

The components of net periodic benefit cost were as follows:



	Pension Benefits									Other Benefits
For the years ended December 31,	2018			2017			2016			2018			2017			2016
Amounts recognized in net periodic benefit cost
Service cost	$	21,223		$	20,657		$	23,075		$	230		$	263		$	299
Interest cost	31,943			40,996			41,875			6,923			8,837			9,731
Expected return on plan assets	(58,612		)	(57,370		)	(58,820		)	—			—			—
Amortization of prior service (credit) cost	(7,202		)	(5,822		)	(1,555		)	836			748			575
Amortization of net loss (gain)	26,875			33,648			34,940			—			(1		)	(13		)
Curtailment credit	(299		)	—			—			—			—			—
Settlement loss	20,211			17,732			22,657			—			—			—
Total net periodic benefit cost	$	34,139		$	49,841		$	62,172		$	7,989		$	9,847		$	10,592

Change in plan assets and benefit obligations recognized in AOCI, pre-tax
Actuarial net (gain) loss	$	3,715		$	(73,768	)	$	(31,772	)	$	(10,771	)	$	2,139		$	(3,047	)
Prior service (credit) cost	7,198			(2,650		)	(41,517		)	(838		)	(744		)	(572		)
Total recognized in other comprehensive (income) loss, pre-tax	$	10,913		$	(76,418	)	$	(73,289	)	$	(11,609	)	$	1,395		$	(3,619	)
Net amounts recognized in periodic benefit cost and AOCI	$	45,052		$	(26,577	)	$	(11,117	)	$	(3,620	)	$	11,242		$	6,973

Amounts expected to be amortized from AOCI into net periodic benefit cost during 2019 are as follows:



	Pension Plans			Post-Retirement Benefit Plans
Amortization of net actuarial loss	$	33,695		$	811
Amortization of prior service (credit) cost	$	(7,235	)	$	(384	)

Assumptions

The weighted-average assumptions used in computing the year end benefit obligations were as follows:



	Pension Benefits				Other Benefits
December 31,	2018		2017		2018		2017
Discount rate	4.1	%	3.4	%	4.2	%	3.5	%
Rate of increase in compensation levels	3.6	%	3.8	%	N/A		N/A

The weighted-average assumptions used in computing net periodic benefit cost were as follows:



	Pension Benefits						Other Benefits
For the years ended December 31,	2018		2017		2016		2018		2017		2016
Discount rate	3.4	%	3.8	%	4.0	%	3.5	%	3.8	%	4.0	%
Expected long-term return on plan assets	5.8	%	5.8	%	6.1	%	N/A		N/A		N/A
Rate of compensation increase	3.8	%	3.8	%	3.8	%	N/A		N/A		N/A

The Company’s discount rate assumption is determined by developing a yield curve based on high quality corporate bonds with maturities matching the plans’ expected benefit payment streams. The plans’ expected cash flows are then discounted by the resulting year-by-year spot rates. We base the asset return assumption on current and expected asset allocations, as well as historical and expected returns on the plan asset categories.

Prior to December 31, 2017, the service and interest cost components of net periodic benefit cost were determined utilizing a single weighted-average discount rate derived from the yield curve used to measure the plan obligations. Beginning in 2018, we elected to utilize a full yield curve approach in the estimation of service and interest costs by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows. We made this change to provide a more precise measurement of service and interest costs by improving the correlation between the projected cash flows to the corresponding spot rates along the yield curve. This change does not affect the measurement of our pension and other post-retirement benefit liabilities but generally results in lower benefit expense in periods when the yield curve is upward sloping, which was the case in 2018. We accounted for this change as a change in accounting estimate and, accordingly, accounted for it on a prospective basis starting in 2018.

For purposes of measuring our post-retirement benefit obligation at December 31, 2018 and December 31, 2017, we assumed a 7.0% annual rate of increase in the per capita cost of covered health care benefits for 2019 and 2018, grading down to 5.0% by 2023. Assumed health care cost trend rates could have a significant effect on the amounts reported for the post-retirement health care plans. A one-percentage point change in assumed health care cost trend rates would have the following effects:



Impact of assumed health care cost trend rates	One-Percentage Point Increase		One-Percentage Point Decrease
Effect on total service and interest cost components	$	94	$	(82	)
Effect on accumulated post-retirement benefit obligation	3,213		(2,833		)

The valuations and assumptions reflect adoption of the Society of Actuaries updated RP-2014 mortality tables with MP-2018 generational projection scales, which we adopted as of December 31, 2018. Adoption of the updated scale did not have a significant impact on our current pension obligations or net period benefit cost since our primary plans are cash balance plans and most participants take lump-sum settlements upon retirement.

Plan Assets

We broadly diversify our pension plan assets across public equity, fixed income, diversified credit strategies and diversified alternative strategies asset classes. Our target asset allocation for our major domestic pension plans as of December 31, 2018 was as follows:



Asset Class		Target Asset Allocation
Cash		1%
Equity securities		25%
Fixed income securities		49%
Alternative investments, including real estate, listed infrastructure and other		25%

As of December 31, 2018, actual allocations were consistent with the targets and within our allowable ranges. We expect the level of volatility in pension plan asset returns to be in line with the overall volatility of the markets within

each asset class.

The following table sets forth by level, within the fair value hierarchy (as defined in Note 6), pension plan assets at their fair values as of December 31, 2018:



	Quoted prices in active markets of identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant other unobservable inputs (Level 3)		Investments Using NAV as a Practical Expedient (1)		Total
Cash and cash equivalents	$	1,040	$	17,857	$	—	$	664	$	19,561
Equity securities:
Global all-cap (a)	—		—		—		210,850		210,850
Fixed income securities:
U.S. government/agency	—		—		—		242,618		242,618
Corporate bonds (b)	—		—		—		117,656		117,656
International government/corporate bonds (d)	—		—		—		29,115		29,115
Diversified credit (e)	—		—		—		94,008		94,008
Alternative investments:
Global diversified assets (f)	—		—		—		147,661		147,661
Global real estate investment trusts (g)	—		—		—		57,854		57,854
Global infrastructure (h)	—		—		—		44,538		44,538
Total pension plan assets	$	1,040	$	17,857	$	—	$	944,964	$	963,861

The following table sets forth by level, within the fair value hierarchy, pension plan assets at their fair values as of December 31, 2017:



	Quoted prices in active markets of identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant other unobservable inputs (Level 3)		Investments Using NAV as a Practical Expedient (1)		Total
Cash and cash equivalents	$	1,179	$	18,161	$	—	$	730	$	20,070
Equity securities:
Global all-cap (a)	—		—		—		276,825		276,825
Fixed income securities:
U.S. government/agency	—		—		—		239,686		239,686
Corporate bonds (b)	—		33,019		—		162,633		195,652
Collateralized obligations (c)	—		40,350		—		34,538		74,888
International government/corporate bonds (d)	—		—		—		32,447		32,447
Alternative investments:
Global diversified assets (f)	—		—		—		149,030		149,030
Global real estate investment trusts (g)	—		—		—		50,213		50,213
Global infrastructure (h)	—		—		—		47,415		47,415
Total pension plan assets	$	1,179	$	91,530	$	—	$	993,517	$	1,086,226


(1)	Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy but are included to reconcile to the amounts presented in our Obligations and Funded Status table.



(a)	This category comprises equity funds that primarily track the MSCI World Index or MSCI All Country World Index.
(b)	This category comprises fixed income funds primarily invested in investment grade and high yield bonds.
(c)	This category comprises fixed income funds primarily invested in high quality mortgage-backed securities and other asset-backed obligations.
(d)	This category comprises fixed income funds primarily invested in Canadian and other international bonds.
(e)	This category comprises fixed income funds primarily invested in high yield bonds, loans, securitized debt, and emerging market debt.
(f)	This category comprises diversified funds invested across alternative asset classes.
(g)	This category comprises equity funds primarily invested in publicly traded real estate securities.
(h)	This category comprises equity funds primarily invested in publicly traded listed infrastructure securities.

The fair value of the Level 1 assets was based on quoted prices in active markets for the identical assets. The fair value of the Level 2 assets was determined by management based on an assessment of valuations provided by asset management entities and was calculated by aggregating market prices for all underlying securities.

Investment objectives for our domestic plan assets are:



l	To ensure high correlation between the value of plan assets and liabilities;
l	To maintain careful control of the risk level within each asset class; and
l	To focus on a long-term return objective.

We believe that there are no significant concentrations of risk within our plan assets as of December 31, 2018. We comply with the rules and regulations promulgated under the Employee Retirement Income Security Act of 1974 (“ERISA”) and we prohibit investments and investment strategies not allowed by ERISA. We do not permit direct purchases of our Company’s securities or the use of derivatives for the purpose of speculation. We invest the assets of non-domestic plans in compliance with laws and regulations applicable to those plans.

Cash Flows and Plan Termination

Our policy is to fund domestic pension liabilities in accordance with the limits imposed by the ERISA, federal income tax laws and the funding requirements of the Pension Protection Act of 2006. We fund non-domestic pension liabilities in accordance with laws and regulations applicable to those plans.

We made total contributions to the pension plans of $9,233 during 2018. In 2017, we made total contributions of $37,503 to the pension plans. These included contributions totaling $29,201 to fund payouts from the unfunded supplemental retirement plans and $6,461 to complete the termination of The Hershey Company Puerto Rico Hourly Pension Plan, which was approved in 2016 by the Compensation and Executive Organization Committee of the Board. For 2019, minimum funding requirements for our pension plans are approximately $1,445.

Total benefit payments expected to be paid to plan participants, including pension benefits funded from the plans and other benefits funded from Company assets, are as follows:



	Expected Benefit Payments
	2019		2020		2021		2022		2023		2024-2028
Pension Benefits	$	113,395	$	95,461	$	92,790	$	115,509	$	92,411	$	396,875
Other Benefits	19,582		18,573		17,407		16,595		15,841		68,234

Multiemployer Pension Plan

During 2016, we exited a facility as part of the Operational Optimization Program (see Note 7) and no longer participate in the BCTGM Union and Industry Canadian Pension Plan, a trustee-managed multiemployer defined benefit pension plan. Our obligation during the term of the collective bargaining agreement was limited to remitting the required contributions to the plan and contributions made were not significant during 2015 through 2016.

Savings Plans

The Company sponsors several defined contribution plans to provide retirement benefits to employees. Contributions to The Hershey Company 401(k) Plan and similar plans for non-domestic employees are based on a portion of eligible pay up to a defined maximum. All matching contributions were made in cash. Expense associated with the defined contribution plans was $47,959 in 2018, $46,154 in 2017 and $43,545 in 2016.

STOCK COMPENSATION PLANS

12 Months Ended

Dec. 31, 2018

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

Stock Compensation Plans

STOCK COMPENSATION PLANS

Share-based grants for compensation and incentive purposes are made pursuant to the Equity and Incentive Compensation Plan (“EICP”). The EICP provides for grants of one or more of the following stock-based compensation awards to employees, non-employee directors and certain service providers upon whom the successful conduct of our business is dependent:



l	Non-qualified stock options (“stock options”);
l	Performance stock units (“PSUs”) and performance stock;
l	Stock appreciation rights;
l	Restricted stock units (“RSUs”) and restricted stock; and
l	Other stock-based awards.

As of December 31, 2018, 65.8 million shares were authorized and approved by our stockholders for grants under the EICP. The EICP also provides for the deferral of stock-based compensation awards by participants if approved by the Compensation and Executive Organization Committee of our Board and if in accordance with an applicable deferred compensation plan of the Company. Currently, the Compensation and Executive Organization Committee has authorized the deferral of PSU and RSU awards by certain eligible employees under the Company’s Deferred Compensation Plan. Our Board has authorized our non-employee directors to defer any portion of their cash retainer, committee chair fees and RSUs awarded that they elect to convert into deferred stock units under our Directors’ Compensation Plan.

At the time stock options are exercised or RSUs and PSUs become payable, common stock is issued from our accumulated treasury shares. Dividend equivalents are credited on RSUs on the same date and at the same rate as dividends are paid on Hershey’s common stock. These dividend equivalents are charged to retained earnings.

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



For the years ended December 31,	2018		2017		2016
Pre-tax compensation expense	$	49,286	$	51,061	$	54,785
Related income tax benefit	9,463		13,684		17,148

Compensation costs for stock compensation plans are primarily included in selling, marketing and administrative expense. As of December 31, 2018, total stock-based compensation cost related to non-vested awards not yet recognized was $56,547 and the weighted-average period over which this amount is expected to be recognized was approximately 2.1 years.

Stock Options

The exercise price of each stock option awarded under the EICP equals the closing price of our Common Stock on the New York Stock Exchange on the date of grant. Each stock option has a maximum term of 10 years. Grants of stock options provide for pro-rated vesting, typically over a four-year period. Expense for stock options is based on grant date fair value and recognized on a straight-line method over the vesting period, net of estimated forfeitures.

A summary of activity relating to grants of stock options for the year ended December 31, 2018 is as follows:



Stock Options	Shares		Weighted-Average Exercise Price (per share)	Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at beginning of the period	5,921,062		$89.06	5.8 years
Granted	945,220		$99.93
Exercised	(1,110,712	)	$68.69
Forfeited	(361,188	)	$102.20
Outstanding as of December 31, 2018	5,394,382		$94.28	5.6 years	$	70,398
Options exercisable as of December 31, 2018	3,506,304		$90.77	4.1 years	$	57,789

The weighted-average fair value of options granted was $15.58, $15.76 and $11.46 per share in 2018, 2017 and 2016, respectively. The fair value was estimated on the date of grant using a Black-Scholes option-pricing model and the following weighted-average assumptions:



For the years ended December 31,	2018		2017		2016
Dividend yields	2.4	%	2.4	%	2.4	%
Expected volatility	16.6	%	17.2	%	16.8	%
Risk-free interest rates	2.8	%	2.2	%	1.5	%
Expected term in years	6.6		6.8		6.8



l	“Dividend yields” means the sum of dividends declared for the four most recent quarterly periods, divided by the average price of our Common Stock for the comparable periods;
l	“Expected volatility” means the historical volatility of our Common Stock over the expected term of each grant;
l	“Risk-free interest rates” means the U.S. Treasury yield curve rate in effect at the time of grant for periods within the contractual life of the stock option; and
l	“Expected term” means the period of time that stock options granted are expected to be outstanding based primarily on historical data.

The total intrinsic value of options exercised was $38,382, $45,998 and $73,944 in 2018, 2017 and 2016, respectively.

As of December 31, 2018, there was $13,902 of total unrecognized compensation cost related to non-vested stock option awards granted under the EICP, which we expect to recognize over a weighted-average period of 2.4 years.

The following table summarizes information about stock options outstanding as of December 31, 2018:



	Options Outstanding			Options Exercisable
Range of Exercise Prices	Number Outstanding as of 12/31/18	Weighted- Average Remaining Contractual Life in Years	Weighted- Average Exercise Price	Number Exercisable as of 12/31/18	Weighted- Average Exercise Price
$33.40 - $90.39	2,079,250	4.2	$77.54	1,704,705	$74.72
$90.40 - $105.91	1,676,763	7.0	$102.54	711,683	$105.12
$105.92 - $111.76	1,638,369	5.8	$107.06	1,089,916	$106.52
$33.40 - $111.76	5,394,382	5.6	$94.28	3,506,304	$90.77

Performance Stock Units and Restricted Stock Units

Under the EICP, we grant PSUs to selected executives and other key employees. Vesting is contingent upon the achievement of certain performance objectives. We grant PSUs over 3-year performance cycles. If we meet targets for financial measures at the end of the applicable 3-year performance cycle, we award a resulting number of shares of our Common Stock to the participants. For PSUs granted, the target award is a combination of a market-based total shareholder return and performance-based components. The performance scores for 2016 through 2018 grants of PSUs can range from 0% to 250% of the targeted amounts.

We recognize the compensation cost associated with PSUs ratably over the 3-year term. Compensation cost is based on the grant date fair value because the grants can only be settled in shares of our Common Stock. The grant date fair value of PSUs is determined based on the Monte Carlo simulation model for the market-based total shareholder return component and the closing market price of the Company’s Common Stock on the date of grant for performance-based components.

In 2018, 2017 and 2016, we awarded RSUs to certain executive officers and other key employees under the EICP. We also awarded RSUs quarterly to non-employee directors.

We recognize the compensation cost associated with employee RSUs over a specified award vesting period based on the grant date fair value of our Common Stock. We recognize expense for employee RSUs based on the straight-line method. We recognize the compensation cost associated with non-employee director RSUs ratably over the vesting period, net of estimated forfeitures.

A summary of activity relating to grants of PSUs and RSUs for the period ended December 31, 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 at beginning of year	923,364		$103.11
Granted	457,315		$97.86
Performance assumption change	16,961		$102.71
Vested	(287,101	)	$103.59
Forfeited	(111,521	)	$103.48
Outstanding at end of year	999,018		$101.57

The following table sets forth information about the fair value of the PSUs and RSUs granted for potential future distribution to employees and non-employee directors. In addition, the table provides assumptions used to determine the fair value of the market-based total shareholder return component using the Monte Carlo simulation model on the date of grant.



For the years ended December 31,	2018			2017			2016
Units granted	457,315			478,044			545,750
Weighted-average fair value at date of grant	$	97.86		$	110.97		$	93.55
Monte Carlo simulation assumptions:
Estimated values	$	29.17		$	46.85		$	38.02
Dividend yields	2.6		%	2.3		%	2.5		%
Expected volatility	20.4		%	20.4		%	17.0		%



l	“Estimated values” means the fair value for the market-based total shareholder return component of each PSU at the date of grant using a Monte Carlo simulation model;
l	“Dividend yields” means the sum of dividends declared for the four most recent quarterly periods, divided by the average price of our Common Stock for the comparable periods;
l	“Expected volatility” means the historical volatility of our Common Stock over the expected term of each grant.

The fair value of shares vested totaled $28,752, $29,981 and $22,062 in 2018, 2017 and 2016, respectively.

Deferred PSUs, deferred RSUs and deferred stock units representing directors’ fees totaled 303,855 units as of December 31, 2018. Each unit is equivalent to one share of the Company’s Common Stock.

SEGMENT INFORMATION

12 Months Ended

Dec. 31, 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 China, Mexico, Brazil, India and Malaysia, primarily for consumers in these regions, and also distribute and sell confectionery products in export markets of Asia, Latin America, Middle East, Europe, Africa and other regions. This segment also includes our global retail operations, including Hershey's Chocolate World stores in Hershey, Pennsylvania, New York City, Las Vegas, Niagara Falls (Ontario) and Singapore, as well as operations associated with licensing the use of certain of the Company's trademarks and products to third parties around the world.

For segment reporting purposes, we use “segment income” to evaluate segment performance and allocate resources. Segment income excludes unallocated general corporate administrative expenses, unallocated mark-to-market gains and losses on commodity derivatives, business realignment and impairment charges, acquisition-related costs and other unusual gains or losses that are not part of our measurement of segment performance. These items of our operating income are managed centrally at the corporate level and are excluded from the measure of segment income reviewed by the CODM as well the measure of segment performance used for incentive compensation purposes.

Accounting policies associated with our operating segments are generally the same as those described in Note 1.

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

Our segment net sales and earnings were as follows:



For the years ended December 31,	2018			2017			2016
Net sales:
North America	$	6,901,607		$	6,621,173		$	6,532,988
International and Other	889,462			894,253			907,193
Total	$	7,791,069		$	7,515,426		$	7,440,181

Segment income (loss):
North America	$	2,020,082		$	2,044,218		$	2,040,454
International and Other	73,762			11,532			(29,139		)
Total segment income	2,093,844			2,055,750			2,011,315
Unallocated corporate expense (1)	486,716			499,251			488,318
Unallocated mark-to-market (gains) losses on commodity derivatives	(168,263		)	(35,292		)	163,238
Long-lived and intangible asset impairment charges	57,729			208,712			4,204
Costs associated with business realignment activities	51,827			69,359			93,902
Acquisition-related costs	44,829			311			6,480
Gain on sale of licensing costs	(2,658		)	—			—
Operating profit	1,623,664			1,313,409			1,255,173
Interest expense, net	138,837			98,282			90,143
Other (income) expense, net	74,766			104,459			65,549
Income before income taxes	$	1,410,061		$	1,110,668		$	1,099,481

(1)

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

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



For the years ended December 31,	2018			2017			2016
Net (gains) losses on mark-to-market valuation of commodity derivative positions recognized in income	$	(69,379	)	$	55,734		$	171,753
Net losses on commodity derivative positions reclassified from unallocated to segment income	(98,884		)	(91,026		)	(8,515		)
Net (gains) losses on mark-to-market valuation of commodity derivative positions recognized in unallocated derivative (gains) losses	$	(168,263	)	$	(35,292	)	$	163,238

As of December 31, 2018, the cumulative amount of mark-to-market gains on commodity derivatives that have been recognized in our consolidated cost of sales and not yet allocated to reportable segments was $40,318. 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 $409 to segment operating results in the next twelve months.

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



For the years ended December 31,	2018		2017		2016
North America	$	205,340	$	171,265	$	162,211
International and Other	35,656		42,542		50,753
Corporate (1)	54,148		48,046		88,873
Total	$	295,144	$	261,853	$	301,837


(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.

Additional geographic information is as follows:



For the years ended December 31,	2018		2017		2016
Net sales:
United States	$	6,535,675	$	6,263,703	$	6,196,723
Other	1,255,394		1,251,723		1,243,458
Total	$	7,791,069	$	7,515,426	$	7,440,181

Long-lived assets:
United States	$	1,668,186	$	1,575,496	$	1,528,255
Other	462,108		531,201		648,993
Total	$	2,130,294	$	2,106,697	$	2,177,248

In conjunction with recent acquisitions, in 2018 we introduced our snacks portfolio, an additional product line represented by ready-to-eat popcorn, baked snacks, meat snack products and other better-for-you snacks. Net sales related to our snacks portfolio in 2017 and 2016, respectively, were immaterial. Additional product line information is as follows:



For the year ended December 31,	2018
Net sales:
Confectionery and confectionery-based portfolio	$	7,453,364
Snacks portfolio	337,705
Total	$	7,791,069

EQUITY AND NONCONTROLLING INTEREST

12 Months Ended

Dec. 31, 2018

Equity [Abstract]

Equity and Noncontrolling Interest

EQUITY AND NONCONTROLLING INTEREST

We had 1,055,000,000 authorized shares of capital stock as of December 31, 2018. Of this total, 900,000,000 shares were designated as Common Stock, 150,000,000 shares were designated as Class B Stock and 5,000,000 shares were designated as Preferred Stock. Each class has a par value of one dollar per share.

Holders of the Common Stock and the Class B Stock generally vote together without regard to class on matters submitted to stockholders, including the election of directors. The holders of Common Stock have 1 vote per share and the holders of Class B Stock have 10 votes per share. However, the Common Stock holders, voting separately as a class, are entitled to elect one-sixth of the Board. With respect to dividend rights, the Common Stock holders are entitled to cash dividends 10% higher than those declared and paid on the Class B Stock.

Class B Stock can be converted into Common Stock on a share-for-share basis at any time. During 2018, 6,000 shares of Class B Stock were converted into Common Stock. During 2017 and 2016 no shares of Class B Stock were converted into Common Stock.

Changes in the outstanding shares of Common Stock for the past three years were as follows:



For the years ended December 31,	2018		2017		2016
Shares issued	359,901,744		359,901,744		359,901,744
Treasury shares at beginning of year	(149,040,927	)	(147,642,009	)	(143,124,384	)
Stock repurchases:
Shares repurchased in the open market under pre-approved share repurchase programs	(1,406,093	)	—		(4,640,964	)
Shares repurchased directly from the Milton Hershey School Trust	(450,000	)	(1,500,000	)	—
Shares repurchased to replace Treasury Stock issued for stock options and incentive compensation	(615,719	)	(1,278,675	)	(1,820,766	)
Stock issuances:
Shares issued for stock options and incentive compensation	1,339,899		1,379,757		1,944,105
Treasury shares at end of year	(150,172,840	)	(149,040,927	)	(147,642,009	)
Net shares outstanding at end of year	209,728,904		210,860,817		212,259,735

We are authorized to purchase our outstanding shares in open market and privately negotiated transactions. The programs have no expiration date and acquired shares of Common Stock will be held as treasury shares. Purchases under approved share repurchase authorizations are in addition to our practice of buying back shares sufficient to offset those issued under incentive compensation plans.

Hershey Trust Company

Hershey Trust Company, as trustee for the Milton Hershey School Trust (the "Trust") and as direct owner of investment shares, held 3,903,121 shares of our Common Stock as of December 31, 2018. As trustee for the Trust, Hershey Trust Company held 60,612,012 shares of the Class B Stock as of December 31, 2018, and was entitled to cast approximately 80% of all of the votes entitled to be cast on matters requiring the vote of both classes of our common stock voting together. Hershey Trust Company, as trustee for the Trust, or any successor trustee, or Milton Hershey School, as appropriate, must approve any issuance of shares of Common Stock or other action that would result in it not continuing to have voting control of our Company.

In November 2018, the Company entered into a Stock Purchase Agreement with Hershey Trust Company, as trustee for the Trust, pursuant to which the Company agreed to purchase 450,000 shares of the Company’s common stock from the Trust at a price equal to $106.30 per share, for a total purchase price of $47,835.

In August 2017, the Company entered into a Stock Purchase Agreement with Hershey Trust Company, as trustee for the Trust, pursuant to which the Company agreed to purchase 1,500,000 shares of the Company’s common stock from the Trust at a price equal to $106.01 per share, for a total purchase price of $159,015.

Noncontrolling Interest in Subsidiary

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

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



	Noncontrolling Interest
Balance, December 31, 2017	$	16,227
Net loss attributable to noncontrolling interest	(6,511		)
Other comprehensive loss - foreign currency translation adjustments	(1,171		)
Balance, December 31, 2018	$	8,545

The 2018 net loss attributable to the noncontrolling interest reflects the 50% allocation of LSFC-related business realignment and impairment costs (see Note 8).

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

COMMITMENTS AND CONTINGENCIES

Purchase obligations

We enter into certain obligations for the purchase of raw materials. These obligations are primarily in the form of forward contracts for the purchase of raw materials from third-party brokers and dealers. These contracts minimize the effect of future price fluctuations by fixing the price of part or all of these purchase obligations. Total obligations consisted of fixed price contracts for the purchase of commodities and unpriced contracts that were valued using market prices as of December 31, 2018.

The cost of commodities associated with the unpriced contracts is variable as market prices change over future periods. We mitigate the variability of these costs to the extent that we have entered into commodities futures contracts or other commodity derivative instruments to hedge our costs for those periods. Increases or decreases in market prices are offset by gains or losses on commodities futures contracts or other commodity derivative instruments. Taking delivery of and making payments for the specific commodities for use in the manufacture of finished goods satisfies our obligations under the forward purchase contracts. For each of the three years in the period ended December 31, 2018, we satisfied these obligations by taking delivery of and making payment for the specific commodities.

As of December 31, 2018, we had entered into agreements for the purchase of raw materials with various suppliers. Subject to meeting our quality standards, the purchase obligations covered by these agreements were as follows as of December 31, 2018:



in millions	2019		2020		2021		2022		2023
Purchase obligations	$	1,495.9	$	870.9	$	7.5	$	0.7	$	—

Lease commitments

We also have commitments under various operating and capital lease arrangements. Future minimum payments under lease arrangements with a remaining term in excess of one year were as follows as of December 31, 2018:



	Operating leases (1)		Capital leases (2)
2019	$	38,041	$	6,980
2020	24,047		5,272
2021	16,883		3,901
2022	15,424		4,399
2023	13,494		4,577
Thereafter	185,608		169,686


(1)	Future minimum rental payments reflect commitments under non-cancelable operating leases primarily for offices, retail stores, warehouse and distribution facilities. Total rent expense for the years ended December 31, 2018, 2017 and 2016 was $34,157, $25,525 and $20,330, respectively, including short-term rentals.


(2)	Future minimum rental payments reflect commitments under non-cancelable capital leases primarily for offices and warehouse facilities, as well as vehicles.

Environmental contingencies

We have a number of facilities that contain varying amounts of asbestos in certain locations within the facilities. Our asbestos management program is compliant with current applicable regulations, which require that we handle or dispose of asbestos in a special manner if such facilities undergo major renovations or are demolished. We do not have sufficient information to estimate the fair value of any asset retirement obligations related to these facilities. We cannot specify the settlement date or range of potential settlement dates and, therefore, sufficient information is not available to apply an expected present value technique. We expect to maintain the facilities with repairs and maintenance activities that would not involve or require the removal of significant quantities of asbestos.

Legal contingencies

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

Collective Bargaining

As of December 31, 2018, the Company employed approximately 14,930 full-time and 1,490 part-time employees worldwide. Collective bargaining agreements covered approximately 5,780 employees, or approximately 35% of the Company’s employees worldwide. During 2019, agreements will be negotiated for certain employees at three facilities outside of the United States, comprising approximately 67% of total employees under collective bargaining agreements. We currently expect that we will be able to renegotiate such agreements on satisfactory terms when they expire.

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 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:



For the years ended December 31,	2018					2017					2016
	Common Stock		Class B Common Stock			Common Stock		Class B Common Stock			Common Stock		Class B Common Stock
Basic earnings per share:
Numerator:
Allocation of distributed earnings (cash dividends paid)	$	410,732	$	151,789		$	385,878	$	140,394		$	367,081	$	132,394
Allocation of undistributed earnings	449,372		165,669			188,286		68,423			162,299		58,270
Total earnings—basic	$	860,104	$	317,458		$	574,164	$	208,817		$	529,380	$	190,664

Denominator (shares in thousands):
Total weighted-average shares—basic	149,379		60,614			151,625		60,620			153,519		60,620

Earnings Per Share—basic	$	5.76	$	5.24		$	3.79	$	3.44		$	3.45	$	3.15

Diluted earnings per share:
Numerator:
Allocation of total earnings used in basic computation	$	860,104	$	317,458		$	574,164	$	208,817		$	529,380	$	190,664
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock	317,458		—			208,817		—			190,664		—
Reallocation of undistributed earnings	—		(803		)	—		(492		)	—		(324		)
Total earnings—diluted	$	1,177,562	$	316,655		$	782,981	$	208,325		$	720,044	$	190,340

Denominator (shares in thousands):
Number of shares used in basic computation	149,379		60,614			151,625		60,620			153,519		60,620
Weighted-average effect of dilutive securities:
Conversion of Class B common stock to Common shares outstanding	60,614		—			60,620		—			60,620		—
Employee stock options	651		—			1,144		—			964		—
Performance and restricted stock units	345		—			353		—			201		—
Total weighted-average shares—diluted	210,989		60,614			213,742		60,620			215,304		60,620

Earnings Per Share—diluted	$	5.58	$	5.22		$	3.66	$	3.44		$	3.34	$	3.14

The earnings per share calculations for the years ended December 31, 2018, 2017 and 2016 excluded 4,196, 2,374 and 3,680 stock options (in thousands), respectively, that would have been antidilutive.

SUPPLEMENTAL BALANCE SHEET INFORMATION

12 Months Ended

Dec. 31, 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:



December 31,	2018			2017
Inventories:
Raw materials	$	237,086		$	224,940
Goods in process	107,139			93,627
Finished goods	618,798			614,945
Inventories at FIFO	963,023			933,512
Adjustment to LIFO	(178,144		)	(180,676		)
Total inventories	$	784,879		$	752,836

Prepaid expenses and other:
Prepaid expenses	$	68,490		$	128,735
Assets held for sale	23,421			21,124
Other current assets	180,248			130,774
Total prepaid expenses and other	$	272,159		$	280,633

Property, plant and equipment:
Land	$	102,074		$	108,300
Buildings	1,211,011			1,214,158
Machinery and equipment	2,988,027			2,925,353
Construction in progress	280,559			212,912
Property, plant and equipment, gross	4,581,671			4,460,723
Accumulated depreciation	(2,451,377		)	(2,354,026		)
Property, plant and equipment, net	$	2,130,294		$	2,106,697

Other assets:
Capitalized software, net	$	126,379		$	104,881
Other non-current assets	126,605			146,998
Total other assets	$	252,984		$	251,879

Accrued liabilities:
Payroll, compensation and benefits	$	180,546		$	190,863
Advertising, promotion and product allowances	293,642			305,107
Liabilities held for sale	596			—
Other	204,379			180,164
Total accrued liabilities	$	679,163		$	676,134

Other long-term liabilities:
Post-retirement benefits liabilities	$	195,166		$	215,320
Pension benefits liabilities	66,379			39,410
Other	184,503			184,209
Total other long-term liabilities	$	446,048		$	438,939

Accumulated other comprehensive loss:
Foreign currency translation adjustments	$	(96,678	)	$	(91,837	)
Pension and post-retirement benefit plans, net of tax	(205,230		)	(169,526		)
Cash flow hedges, net of tax	(54,872		)	(52,383		)
Total accumulated other comprehensive loss	$	(356,780	)	$	(313,746	)

QUARTERLY DATA (Unaudited)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Quarterly Data (Unaudited)

QUARTERLY DATA (Unaudited)

Summary quarterly results were as follows:



Year 2018	First		Second		Third		Fourth
Net sales	$	1,971,959	$	1,751,615	$	2,079,593	$	1,987,902
Gross profit	974,060		793,420		863,493		944,352
Net income attributable to The Hershey Company	350,203		226,855		263,713		336,791
Common stock:
Net income per share—Basic^(a)	1.71		1.11		1.29		1.65
Net income per share—Diluted^(a)	1.65		1.08		1.25		1.60
Dividends paid per share	0.656		0.656		0.722		0.722
Class B common stock:
Net income per share—Basic^(a)	1.55		1.01		1.17		1.50
Net income per share—Diluted^(a)	1.55		1.01		1.17		1.49
Dividends paid per share	0.596		0.596		0.656		0.656
Market price—common stock:
High	114.06		100.60		106.60		110.01
Low	96.06		89.54		91.04		101.64



Year 2017	First		Second		Third		Fourth
Net sales	$	1,879,678	$	1,662,991	$	2,033,121	$	1,939,636
Gross profit	909,352		765,847		942,936		837,241
Net income attributable to The Hershey Company	125,044		203,501		273,303		181,133
Common stock:
Net income per share—Basic^(a)	0.60		0.98		1.32		0.88
Net income per share—Diluted^(a)	0.58		0.95		1.28		0.85
Dividends paid per share	0.618		0.618		0.656		0.656
Class B common stock:
Net income per share—Basic^(a)	0.55		0.89		1.20		0.80
Net income per share—Diluted^(a)	0.55		0.89		1.20		0.80
Dividends paid per share	0.562		0.562		0.596		0.596
Market price—common stock:
High	109.61		115.96		110.50		115.45
Low	103.45		106.41		104.06		102.87

(a)

Quarterly income per share amounts do not total to the annual amount due to changes in weighted-average shares outstanding during the year.

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Dec. 31, 2018

SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]

Schedule II - Valuation and Qualifying Accounts

SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS

For the Years Ended December 31, 2018, 2017 and 2016



			Additions
Description	Balance at Beginning of Period		Charged to Costs and Expenses		Charged to Other Accounts		Deductions from Reserves			Balance at End of Period
In thousands of dollars

For the year ended December 31, 2018
Allowances deducted from assets
Accounts receivable—trade, net (a)	$	41,792	$	222,819	$	—	$	(240,001	)	$	24,610
Valuation allowance on net deferred taxes (b)	312,148		18,413		—		(90,602		)	239,959
Inventory obsolescence reserve (c)	19,348		32,379		—		(31,591		)	20,136
Total allowances deducted from assets	$	373,288	$	273,611	$	—	$	(362,194	)	$	284,705

For the year ended December 31, 2017
Allowances deducted from assets
Accounts receivable—trade, net (a)	$	40,153	$	166,993	$	—	$	(165,354	)	$	41,792
Valuation allowance on net deferred taxes (b)	235,485		92,139		—		(15,476		)	312,148
Inventory obsolescence reserve (c)	20,043		35,666		—		(36,361		)	19,348
Total allowances deducted from assets	$	295,681	$	294,798	$	—	$	(217,191	)	$	373,288

For the year ended December 31, 2016
Allowances deducted from assets
Accounts receivable—trade, net (a)	$	32,638	$	174,314	$	—	$	(166,799	)	$	40,153
Valuation allowance on net deferred taxes (b)	207,055		28,430		—		—			235,485
Inventory obsolescence reserve (c)	22,632		30,053		—		(32,642		)	20,043
Total allowances deducted from assets	$	262,325	$	232,797	$	—	$	(199,441	)	$	295,681

(a) Includes allowances for doubtful accounts, anticipated discounts and write-offs of uncollectible accounts receivable.

(b) Includes adjustments to the valuation allowance for deferred tax assets that we do not expect to realize. The 2017 deductions from reserves reflects the change in valuation allowance due to the remeasurement of corresponding U.S. deferred tax assets at the lower enacted corporate tax rates resulting from the U.S. tax reform.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Description of Business and Basis of Presentation

Description of Business

Basis of Presentation

Use of Estimates

Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying disclosures. Our significant estimates and assumptions include, among others, pension and other post-retirement benefit plan assumptions, valuation assumptions of goodwill and other intangible assets, useful lives of long-lived assets, marketing and trade promotion accruals and income taxes. These estimates and assumptions are based on management’s best judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and the effects of any revisions are reflected in the consolidated financial statements in the period that they are determined. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates.

Revenue Recognition

Cost of Sales

Cost of Sales Cost of sales represents costs directly related to the manufacture and distribution of our products. Primary costs include raw materials, packaging, direct labor, overhead, shipping and handling, warehousing and the depreciation of manufacturing, warehousing and distribution facilities. Manufacturing overhead and related expenses include salaries, wages, employee benefits, utilities, maintenance and property taxes.

Selling, Marketing and Administrative Expense

Selling, Marketing and Administrative ExpenseSelling, marketing and administrative expense (“SM&A”) represents costs incurred in generating revenues and in managing our business. Such costs include advertising and other marketing expenses, selling expenses, research and development costs, administrative and other indirect overhead costs, amortization of capitalized software and intangible assets and depreciation of administrative facilities. Research and development costs, charged to expense as incurred, totaled $38,521 in 2018, $45,850 in 2017 and $47,268 in 2016. Advertising expense is also charged to expense as incurred and totaled $479,908 in 2018, $541,293 in 2017 and $521,479 in 2016. Prepaid advertising expense was $594 and $56 as of December 31, 2018 and 2017, respectively.

Cash Equivalents

Cash EquivalentsCash equivalents consist of highly liquid debt instruments, time deposits and money market funds with original maturities of three months or less. The fair value of cash and cash equivalents approximates the carrying amount.

Short-term Investments

Short-term InvestmentsShort-term investments consist of bank term deposits that have original maturity dates ranging from greater than three months to twelve months. Short-term investments are carried at cost, which approximates fair value.

Accounts Receivable - Trade

Accounts Receivable—Trade In the normal course of business, we extend credit to customers that satisfy pre-defined credit criteria, based upon the results of our recurring financial account reviews and our evaluation of current and projected economic conditions. Our primary concentrations of credit risk are associated with McLane Company, Inc. and Target Corporation, two customers served principally by our North America segment. As of December 31, 2018, McLane Company, Inc. accounted for approximately 26% of our total accounts receivable. No other customer accounted for more than 10% of our year-end accounts receivable. We believe that we have little concentration of credit risk associated with the remainder of our customer base. Accounts receivable-trade in the Consolidated Balance Sheets is presented net of allowances for bad debts and anticipated discounts of $24,610 and $41,792 at December 31, 2018 and 2017, respectively.

Inventories

Inventories Inventories are valued at the lower of cost or market value, adjusted for the value of inventory that is estimated to be excess, obsolete or otherwise unsaleable. As of December 31, 2018, approximately 60% of our inventories, representing the majority of our U.S. inventories, were valued under the last-in, first-out (“LIFO”) method. The remainder of our inventories in the U.S. and inventories for our international businesses were valued at the lower of first-in, first-out (“FIFO”) cost or net realizable value. LIFO cost of inventories valued using the LIFO method was $466,911 as of December 31, 2018 and $443,492 as of December 31, 2017. The adjustment to LIFO, as shown in Note 17, approximates the excess of replacement cost over the stated LIFO inventory value. The net impact of LIFO acquisitions and liquidations was not material to 2018, 2017 or 2016.

Property, Plant and Equipment

Computer Software

December 31, 2018 and 2017, respectively. Such amounts are recorded within other assets in the Consolidated Balance Sheets.

We review the carrying value of software and development costs for impairment in accordance with our policy pertaining to the impairment of long-lived assets.

Goodwill and Other Intangible Assets

Currency Translation

Currency TranslationThe financial statements of our foreign entities with functional currencies other than the U.S. dollar are translated into U.S. dollars, with the resulting translation adjustments recorded as a component of other comprehensive income (loss). Assets and liabilities are translated into U.S. dollars using the exchange rates in effect at the balance sheet date, while income and expense items are translated using the average exchange rates during the period.

Derivative Instruments


•	Changes in the fair value of a derivative that is designated as a cash flow hedge are recorded in accumulated other comprehensive income (“AOCI”) to the extent effective and reclassified into earnings in the same period or periods during which the transaction hedged by that derivative also affects earnings.


•	Changes in the fair value of a derivative that is designated as a fair value hedge, along with the offsetting loss or gain on the hedged asset or liability that is attributable to the risk being hedged, are recorded in earnings, thereby reflecting in earnings the net extent to which the hedge is not effective in achieving offsetting changes in fair value.


•	Changes in the fair value of a derivative not designated as a hedging instrument are recognized in earnings in cost of sales or SM&A, consistent with the related exposure.

We do not hold or issue derivative instruments for trading or speculative purposes and are not a party to any instruments with leverage or prepayment features.

Cash flows related to the derivative instruments we use to manage interest, commodity or other currency exposures are classified as operating activities.

Recent Accounting Pronouncements

Recently Adopted Accounting Pronouncements



	2017		2016
Reclassified from:
Cost of sales	$	10,857	$	11,648
Selling, marketing and administrative expense	27,911		24,073
Business realignment costs	—		13,669
Reclassified to Other (income) expense, net	$	38,768	$	49,390

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)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Schedule of New Accounting Pronouncements Changes

As a result, the following amounts were reclassified for the the years ended December 31, 2017 and 2016 to correspond to the current year presentation:



	2017		2016
Reclassified from:
Cost of sales	$	10,857	$	11,648
Selling, marketing and administrative expense	27,911		24,073
Business realignment costs	—		13,669
Reclassified to Other (income) expense, net	$	38,768	$	49,390

BUSINESS ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2018

Pirate Brands

Business Acquisition and Divestitures [Line Items]

Schedule of Purchase Consideration Allocation to Assets Acquired and Liabilities Assumed

The purchase consideration was allocated to assets acquired and liabilities assumed based on their respective fair values as follows:



Inventories	$	4,663
Plant, property and equipment, net	48
Goodwill	129,991
Other intangible assets	289,300
Accrued liabilities	(1,000		)
Net assets acquired	$	423,002

Amplify Snack Brands, Inc.

Business Acquisition and Divestitures [Line Items]

Schedule of Purchase Consideration Allocation to Assets Acquired and Liabilities Assumed

The purchase consideration, net of cash acquired totaling $53,324, was allocated to assets acquired and liabilities assumed based on their respective fair values as follows:



Accounts receivable	$	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

Ripple Brand Collective, LLC

Business Acquisition and Divestitures [Line Items]

Schedule of Purchase Consideration Allocation to Assets Acquired and Liabilities Assumed

The purchase consideration was allocated to assets acquired and liabilities assumed based on their respective fair values as follows:



Goodwill	$	128,110
Trademarks	91,200
Other intangible assets	60,900
Other assets, primarily current assets, net of cash acquired totaling $674	12,375
Current liabilities	(7,211		)
Net assets acquired	$	285,374

GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 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 years ended December 31, 2018 and 2017 are as follows:



	North America			International and Other			Total
Goodwill	$	797,163		$	377,529		$	1,174,692
Accumulated impairment loss	(4,973		)	(357,375		)	(362,348		)
Balance at January 1, 2017	792,190			20,154			812,344
Foreign currency translation	7,739			978			8,717
Balance at December 31, 2017	799,929			21,132			821,061
Acquired during the period (see Note 2)	1,069,379			—			1,069,379
Purchase price allocation adjustments (see Note 2)	27,001			—			27,001
Divested during the period (see Note 7)	(98,379		)	—			(98,379		)
Foreign currency translation	(15,085		)	(2,874		)	(17,959		)
Balance at December 31, 2018	$	1,782,845		$	18,258		$	1,801,103

Schedule of Gross Carrying Amount and Accumulated Amortization for Each Major Class of Intangible Asset

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



December 31,	2018					2017
	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Intangible assets subject to amortization:
Trademarks	$	1,173,770	$	(60,995	)	$	277,473	$	(37,510	)
Customer-related	163,860		(33,516		)	128,182		(34,659		)
Patents	16,306		(15,772		)	17,009		(15,975		)
Total	1,353,936		(110,283		)	422,664		(88,144		)

Intangible assets not subject to amortization:
Trademarks	34,639					34,636
Total other intangible assets	$	1,278,292				$	369,156

Schedule of Amortization Expense, for the Next Five Years

Amortization expense for the next five years, based on current intangible asset balances, is estimated to be as follows:



Year ending December 31,	2019		2020		2021		2022		2023
Amortization expense	$	44,565	$	43,986	$	43,971	$	43,971	$	43,971

SHORT AND LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Long-term debt consisted of the following:



December 31,	2018			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 (3)	500,000			500,000
7.2% Debentures due 2027	193,639			193,639
3.375% Notes due 2046 (3)	300,000			300,000
Capital lease obligations	101,980			99,194
Net impact of interest rate swaps, debt issuance costs and unamortized debt discounts	(20,667		)	(16,427		)
Total long-term debt	3,259,667			2,361,121
Less—current portion	5,387			300,098
Long-term portion	$	3,254,280		$	2,061,023


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

(2)

(3)

In August 2016, we issued $500,000 of 2.30% Notes due in 2026 and $300,000 of 3.375% Notes due in 2046 (the "2016 Notes"). Proceeds from the issuance of the 2016 Notes, net of discounts and issuance costs, totaled $792,953. The 2016 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 Maturities of Long-term Debt



2019	$	—
2020	700,000
2021	434,715
2022	—
2023	750,000
Thereafter	1,293,639

Schedule of Net Interest Expense

Net interest expense consists of the following:



For the years ended December 31,	2018			2017			2016
Interest expense	$	151,950		$	104,232		$	97,851
Capitalized interest	(5,092		)	(4,166		)	(5,903		)
Interest expense	146,858			100,066			91,948
Interest income	(8,021		)	(1,784		)	(1,805		)
Interest expense, net	$	138,837		$	98,282		$	90,143

- 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.

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+ Details

DERIVATIVE INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2018 and 2017:



December 31,	2018				2017
	Assets (1)		Liabilities (1)		Assets (1)		Liabilities (1)
Derivatives designated as cash flow hedging instruments:
Foreign exchange contracts	$	3,394	$	485	$	423	$	1,427

Derivatives designated as fair value hedging instruments:
Interest rate swap agreements	—		4,832		—		1,897

Derivatives not designated as hedging instruments:
Commodities futures and options (2)	7,230		262		390		3,054
Deferred compensation derivatives	—		4,736		1,581		—
Foreign exchange contracts	70		484		31		—
	7,300		5,482		2,002		3,054
Total	$	10,694	$	10,799	$	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 December 31, 2018, amounts reflected on a net basis in assets were assets of $63,978 and liabilities of $57,351, 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

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

The effect of derivative instruments on the Consolidated Statements of Income for the years ended December 31, 2018 and December 31, 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	$	69,379		$	(55,734	)	$	—	$	—		$	—		$	(1,774	)
Foreign exchange contracts	972			(23		)	5,822		(4,931		)	3,906			(3,180		)
Interest rate swap agreements	—			—			—		—			(9,479		)	(9,480		)
Deferred compensation derivatives	(2,173		)	4,497			—		—			—			—
Total	$	68,178		$	(51,260	)	$	5,822	$	(4,931	)	$	(5,573	)	$	(14,434	)


(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)

12 Months Ended

Dec. 31, 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 December 31, 2018 and 2017:



	Assets (Liabilities)
	Level 1		Level 2		Level 3		Total
December 31, 2018:
Derivative Instruments:
Assets:
Foreign exchange contracts (1)	$	—	$	3,464	$	—	$	3,464
Commodities futures and options (4)	7,230		—		—		7,230
Liabilities:
Foreign exchange contracts (1)	—		969		—		969
Interest rate swap agreements (2)	—		4,832		—		4,832
Deferred compensation derivatives (3)	—		4,736		—		4,736
Commodities futures and options (4)	262		—		—		262
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
At December 31,	2018		2017		2018		2017
Current portion of long-term debt	$	5,387	$	299,430	$	5,387	$	300,098
Long-term debt	3,228,877		2,113,296		3,254,280		2,061,023
Total	$	3,234,264	$	2,412,726	$	3,259,667	$	2,361,121

ASSETS AND LIABILITIES HELD FOR SALE ASSETS AND LIABILITIES HELD FOR SALE (Tables)

12 Months Ended

Dec. 31, 2018

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Assets and Liabilities Held for Sale

The amounts classified as assets and liabilities held for sale at December 31, 2018 include the following:



Assets held for sale, included in prepaid expenses and other assets
Property, plant and equipment, net	$	20,905
Other assets	2,516
	$	23,421

Liabilities held for sale, included in accrued liabilities
Accounts payable and accrued liabilities	$	596
	$	596

- 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.

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+ Details

BUSINESS REALIGNMENT ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 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 as follows:



For the years ended December 31,	2018		2017		2016
Cost of sales	$	11,323	$	5,147	$	58,106
Selling, marketing and administrative expense	21,401		16,449		16,939
Business realignment costs	19,103		47,763		18,857
Costs associated with business realignment activities	$	51,827	$	69,359	$	93,902

Costs recorded in 2018, 2017 and 2016 related to these activities were as follows:



For the years ended December 31,	2018			2017			2016
Margin for Growth Program:
Severance	$	15,378		$	32,554		$	—
Accelerated depreciation	9,131			6,873			—
Other program costs	30,940			16,407			—
Operational Optimization Program:
Severance	—			13,828			17,872
Gain on sale of facilities	(6,562		)	—			—
Accelerated depreciation	—			—			48,590
Other program costs	2,940			(303		)	21,831
2015 Productivity Initiative:
Other program costs	—			—			5,609
Total	$	51,827		$	69,359		$	93,902

Schedule of Liability Activity for Costs Qualifying as Exit and Disposal Costs

The following table presents the liability activity for costs qualifying as exit and disposal costs for the year ended December 31, 2018:



	Total
Liability balance at December 31, 2017	$	38,992
2018 business realignment charges (1)	25,940
Cash payments	(50,996		)
Other, net	669
Liability balance at December 31, 2018 (reported within accrued liabilities)	$	14,605

(1)

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) Before Income Taxes

The components of income (loss) before income taxes were as follows:



For the years ended December 31,	2018		2017			2016
Domestic	$	1,195,645	$	1,187,825		$	1,395,440
Foreign	214,416		(77,157		)	(295,959		)
Income before income taxes	$	1,410,061	$	1,110,668		$	1,099,481

Schedule of Components of Income Tax Expense (Benefit)

The components of our provision for income taxes were as follows:



For the years ended December 31,	2018			2017			2016
Current:
Federal	$	151,107		$	314,277		$	391,705
State	38,243			37,628			51,706
Foreign	13,405			(16,356		)	(25,877		)
	202,755			335,549			417,534
Deferred:
Federal	35,035			19,204			(7,706		)
State	7,572			7,573			(452		)
Foreign	(6,352		)	(8,195		)	(29,939		)
	36,255			18,582			(38,097		)
Total provision for income taxes	$	239,010		$	354,131		$	379,437

Schedule of Deferred Tax Asset and Liabilities

The significant temporary differences that comprised the deferred tax assets and liabilities are as follows:



December 31,	2018			2017
Deferred tax assets:
Post-retirement benefit obligations	$	52,915		$	58,306
Accrued expenses and other reserves	85,180			103,769
Stock-based compensation	30,448			31,364
Derivative instruments	17,423			27,109
Pension	8,921			—
Lease financing obligation	12,284			12,310
Accrued trade promotion reserves	13,670			26,028
Net operating loss carryforwards	161,242			226,142
Capital loss carryforwards	26,670			23,215
Other	9,969			7,748
Gross deferred tax assets	418,722			515,991
Valuation allowance	(239,959		)	(312,148		)
Total deferred tax assets	178,763			203,843
Deferred tax liabilities:
Property, plant and equipment, net	144,044			132,443
Acquired intangibles	161,003			68,476
Inventories	21,366			20,769
Pension	—			969
Other	28,044			23,819
Total deferred tax liabilities	354,457			246,476
Net deferred tax (liabilities) assets	$	(175,694	)	$	(42,633	)
Included in:
Non-current deferred tax assets, net	1,166			3,023
Non-current deferred tax liabilities, net	(176,860		)	(45,656		)
Net deferred tax (liabilities) assets	$	(175,694	)	$	(42,633	)

Schedule of Effective Income Tax Rate Reconciliation

The following table reconciles the federal statutory income tax rate with our effective income tax rate:



For the years ended December 31,	2018		2017		2016
Federal statutory income tax rate	21.0	%	35.0	%	35.0	%
Increase (reduction) resulting from:
State income taxes, net of Federal income tax benefits	2.7		2.6		3.4
Qualified production income deduction	—		(2.9	)	(3.8	)
Business realignment and impairment charges	0.6		4.3		0.4
Foreign rate differences	(2.0	)	(4.3	)	3.6
Historic and solar tax credits	(3.5	)	(4.8	)	(3.3	)
U.S. tax reform	(1.4	)	2.9		—
Tax contingencies	0.5		0.5		0.1
Other, net	(0.9	)	(1.4	)	(0.9	)
Effective income tax rate	17.0	%	31.9	%	34.5	%

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:



December 31,	2018			2017
Balance at beginning of year	$	42,082		$	36,002
Additions for tax positions taken during prior years	1,174			2,492
Reductions for tax positions taken during prior years	(2,581		)	(1,689		)
Additions for tax positions taken during the current year	61,627			10,018
Settlements	—			(1,481		)
Expiration of statutes of limitations	(4,772		)	(3,260		)
Balance at end of year	$	97,530		$	42,082

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2018

Retirement Benefits [Abstract]

Schedule of Defined Benefit Obligations, Plan Assets, and Funded Status

A summary of the changes in benefit obligations, plan assets and funded status of these plans is as follows:



	Pension Benefits						Other Benefits
December 31,	2018			2017			2018			2017
Change in benefit obligation
Projected benefit obligation at beginning of year	$	1,117,564		$	1,118,318		$	236,112		$	242,846
Service cost	21,223			20,657			230			263
Interest cost	31,943			40,996			6,923			8,837
Plan amendments	—			(8,473		)	—			—
Actuarial (gain) loss	(50,432		)	40,768			(10,842		)	2,207
Curtailment	(16		)	—			—			—
Settlement	(61,268		)	(44,978		)	—			—
Currency translation and other	(4,674		)	6,749			(1,073		)	889
Benefits paid	(23,134		)	(56,473		)	(16,631		)	(18,930		)
Projected benefit obligation at end of year	1,031,206			1,117,564			214,719			236,112
Change in plan assets
Fair value of plan assets at beginning of year	1,086,226			1,023,676			—			—
Actual return on plan assets	(43,118		)	121,241			—			—
Employer contributions	9,233			37,503			16,631			18,930
Settlement	(61,268		)	(44,978		)	—			—
Currency translation and other	(4,078		)	5,257			—			—
Benefits paid	(23,134		)	(56,473		)	(16,631		)	(18,930		)
Fair value of plan assets at end of year	963,861			1,086,226			—			—
Funded status at end of year	$	(67,345	)	$	(31,338	)	$	(214,719	)	$	(236,112	)

Amounts recognized in the Consolidated Balance Sheets:
Other assets	$	332		$	14,988		$	—		$	—
Accrued liabilities	(1,298		)	(6,916		)	(19,553		)	(20,792		)
Other long-term liabilities	(66,379		)	(39,410		)	(195,166		)	(215,320		)
Total	$	(67,345	)	$	(31,338	)	$	(214,719	)	$	(236,112	)

Amounts recognized in Accumulated Other Comprehensive Income (Loss), net of tax:
Actuarial net (loss) gain	$	(254,735	)	$	(207,659	)	$	17,967		$	8,313
Net prior service credit (cost)	32,350			30,994			(812		)	(1,174		)
Net amounts recognized in AOCI	$	(222,385	)	$	(176,665	)	$	17,155		$	7,139

Schedule of Accumulated Benefit Obligations in Excess of Plan Assets

Plans with accumulated benefit obligations in excess of plan assets were as follows:



December 31,	2018		2017
Projected benefit obligation	$	1,030,382	$	711,767
Accumulated benefit obligation	993,892		675,660
Fair value of plan assets	962,705		665,441

Schedule of Components of Net Periodic Benefit Cost

The components of net periodic benefit cost were as follows:



	Pension Benefits									Other Benefits
For the years ended December 31,	2018			2017			2016			2018			2017			2016
Amounts recognized in net periodic benefit cost
Service cost	$	21,223		$	20,657		$	23,075		$	230		$	263		$	299
Interest cost	31,943			40,996			41,875			6,923			8,837			9,731
Expected return on plan assets	(58,612		)	(57,370		)	(58,820		)	—			—			—
Amortization of prior service (credit) cost	(7,202		)	(5,822		)	(1,555		)	836			748			575
Amortization of net loss (gain)	26,875			33,648			34,940			—			(1		)	(13		)
Curtailment credit	(299		)	—			—			—			—			—
Settlement loss	20,211			17,732			22,657			—			—			—
Total net periodic benefit cost	$	34,139		$	49,841		$	62,172		$	7,989		$	9,847		$	10,592

Change in plan assets and benefit obligations recognized in AOCI, pre-tax
Actuarial net (gain) loss	$	3,715		$	(73,768	)	$	(31,772	)	$	(10,771	)	$	2,139		$	(3,047	)
Prior service (credit) cost	7,198			(2,650		)	(41,517		)	(838		)	(744		)	(572		)
Total recognized in other comprehensive (income) loss, pre-tax	$	10,913		$	(76,418	)	$	(73,289	)	$	(11,609	)	$	1,395		$	(3,619	)
Net amounts recognized in periodic benefit cost and AOCI	$	45,052		$	(26,577	)	$	(11,117	)	$	(3,620	)	$	11,242		$	6,973

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year

Amounts expected to be amortized from AOCI into net periodic benefit cost during 2019 are as follows:



	Pension Plans			Post-Retirement Benefit Plans
Amortization of net actuarial loss	$	33,695		$	811
Amortization of prior service (credit) cost	$	(7,235	)	$	(384	)

Schedule of Weighted-Average Assumptions Used in Computing the Benefit Obligation

The weighted-average assumptions used in computing the year end benefit obligations were as follows:



	Pension Benefits				Other Benefits
December 31,	2018		2017		2018		2017
Discount rate	4.1	%	3.4	%	4.2	%	3.5	%
Rate of increase in compensation levels	3.6	%	3.8	%	N/A		N/A

The weighted-average assumptions used in computing net periodic benefit cost were as follows:



	Pension Benefits						Other Benefits
For the years ended December 31,	2018		2017		2016		2018		2017		2016
Discount rate	3.4	%	3.8	%	4.0	%	3.5	%	3.8	%	4.0	%
Expected long-term return on plan assets	5.8	%	5.8	%	6.1	%	N/A		N/A		N/A
Rate of compensation increase	3.8	%	3.8	%	3.8	%	N/A		N/A		N/A

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates

A one-percentage point change in assumed health care cost trend rates would have the following effects:



Impact of assumed health care cost trend rates	One-Percentage Point Increase		One-Percentage Point Decrease
Effect on total service and interest cost components	$	94	$	(82	)
Effect on accumulated post-retirement benefit obligation	3,213		(2,833		)

Schedule of Allocation of Plan Assets

Our target asset allocation for our major domestic pension plans as of December 31, 2018 was as follows:



Asset Class		Target Asset Allocation
Cash		1%
Equity securities		25%
Fixed income securities		49%
Alternative investments, including real estate, listed infrastructure and other		25%

The following table sets forth by level, within the fair value hierarchy (as defined in Note 6), pension plan assets at their fair values as of December 31, 2018:



	Quoted prices in active markets of identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant other unobservable inputs (Level 3)		Investments Using NAV as a Practical Expedient (1)		Total
Cash and cash equivalents	$	1,040	$	17,857	$	—	$	664	$	19,561
Equity securities:
Global all-cap (a)	—		—		—		210,850		210,850
Fixed income securities:
U.S. government/agency	—		—		—		242,618		242,618
Corporate bonds (b)	—		—		—		117,656		117,656
International government/corporate bonds (d)	—		—		—		29,115		29,115
Diversified credit (e)	—		—		—		94,008		94,008
Alternative investments:
Global diversified assets (f)	—		—		—		147,661		147,661
Global real estate investment trusts (g)	—		—		—		57,854		57,854
Global infrastructure (h)	—		—		—		44,538		44,538
Total pension plan assets	$	1,040	$	17,857	$	—	$	944,964	$	963,861

The following table sets forth by level, within the fair value hierarchy, pension plan assets at their fair values as of December 31, 2017:



	Quoted prices in active markets of identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant other unobservable inputs (Level 3)		Investments Using NAV as a Practical Expedient (1)		Total
Cash and cash equivalents	$	1,179	$	18,161	$	—	$	730	$	20,070
Equity securities:
Global all-cap (a)	—		—		—		276,825		276,825
Fixed income securities:
U.S. government/agency	—		—		—		239,686		239,686
Corporate bonds (b)	—		33,019		—		162,633		195,652
Collateralized obligations (c)	—		40,350		—		34,538		74,888
International government/corporate bonds (d)	—		—		—		32,447		32,447
Alternative investments:
Global diversified assets (f)	—		—		—		149,030		149,030
Global real estate investment trusts (g)	—		—		—		50,213		50,213
Global infrastructure (h)	—		—		—		47,415		47,415
Total pension plan assets	$	1,179	$	91,530	$	—	$	993,517	$	1,086,226


(1)	Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy but are included to reconcile to the amounts presented in our Obligations and Funded Status table.



(a)	This category comprises equity funds that primarily track the MSCI World Index or MSCI All Country World Index.
(b)	This category comprises fixed income funds primarily invested in investment grade and high yield bonds.
(c)	This category comprises fixed income funds primarily invested in high quality mortgage-backed securities and other asset-backed obligations.
(d)	This category comprises fixed income funds primarily invested in Canadian and other international bonds.
(e)	This category comprises fixed income funds primarily invested in high yield bonds, loans, securitized debt, and emerging market debt.
(f)	This category comprises diversified funds invested across alternative asset classes.
(g)	This category comprises equity funds primarily invested in publicly traded real estate securities.
(h)	This category comprises equity funds primarily invested in publicly traded listed infrastructure securities.

Schedule of Expected Benefit Payments

Total benefit payments expected to be paid to plan participants, including pension benefits funded from the plans and other benefits funded from Company assets, are as follows:



	Expected Benefit Payments
	2019		2020		2021		2022		2023		2024-2028
Pension Benefits	$	113,395	$	95,461	$	92,790	$	115,509	$	92,411	$	396,875
Other Benefits	19,582		18,573		17,407		16,595		15,841		68,234

STOCK COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 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:



For the years ended December 31,	2018		2017		2016
Pre-tax compensation expense	$	49,286	$	51,061	$	54,785
Related income tax benefit	9,463		13,684		17,148

Schedule of Activity Relating to the Grants of Stock Options

A summary of activity relating to grants of stock options for the year ended December 31, 2018 is as follows:



Stock Options	Shares		Weighted-Average Exercise Price (per share)	Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at beginning of the period	5,921,062		$89.06	5.8 years
Granted	945,220		$99.93
Exercised	(1,110,712	)	$68.69
Forfeited	(361,188	)	$102.20
Outstanding as of December 31, 2018	5,394,382		$94.28	5.6 years	$	70,398
Options exercisable as of December 31, 2018	3,506,304		$90.77	4.1 years	$	57,789

Schedule of Fair Value Estimated on the Grant Date and the Weighted Average Assumptions

The fair value was estimated on the date of grant using a Black-Scholes option-pricing model and the following weighted-average assumptions:



For the years ended December 31,	2018		2017		2016
Dividend yields	2.4	%	2.4	%	2.4	%
Expected volatility	16.6	%	17.2	%	16.8	%
Risk-free interest rates	2.8	%	2.2	%	1.5	%
Expected term in years	6.6		6.8		6.8



l	“Dividend yields” means the sum of dividends declared for the four most recent quarterly periods, divided by the average price of our Common Stock for the comparable periods;
l	“Expected volatility” means the historical volatility of our Common Stock over the expected term of each grant;
l	“Risk-free interest rates” means the U.S. Treasury yield curve rate in effect at the time of grant for periods within the contractual life of the stock option; and
l	“Expected term” means the period of time that stock options granted are expected to be outstanding based primarily on historical data.

Schedule of Outstanding Stock Options

The following table summarizes information about stock options outstanding as of December 31, 2018:



	Options Outstanding			Options Exercisable
Range of Exercise Prices	Number Outstanding as of 12/31/18	Weighted- Average Remaining Contractual Life in Years	Weighted- Average Exercise Price	Number Exercisable as of 12/31/18	Weighted- Average Exercise Price
$33.40 - $90.39	2,079,250	4.2	$77.54	1,704,705	$74.72
$90.40 - $105.91	1,676,763	7.0	$102.54	711,683	$105.12
$105.92 - $111.76	1,638,369	5.8	$107.06	1,089,916	$106.52
$33.40 - $111.76	5,394,382	5.6	$94.28	3,506,304	$90.77

Schedule of Activity Relating to Grants of PSUs and RSUs

A summary of activity relating to grants of PSUs and RSUs for the period ended December 31, 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 at beginning of year	923,364		$103.11
Granted	457,315		$97.86
Performance assumption change	16,961		$102.71
Vested	(287,101	)	$103.59
Forfeited	(111,521	)	$103.48
Outstanding at end of year	999,018		$101.57

Schedule of Information Pertaining to Fair Value of PSUs and RSUs Granted for Potential Future Distribution



For the years ended December 31,	2018			2017			2016
Units granted	457,315			478,044			545,750
Weighted-average fair value at date of grant	$	97.86		$	110.97		$	93.55
Monte Carlo simulation assumptions:
Estimated values	$	29.17		$	46.85		$	38.02
Dividend yields	2.6		%	2.3		%	2.5		%
Expected volatility	20.4		%	20.4		%	17.0		%



l	“Estimated values” means the fair value for the market-based total shareholder return component of each PSU at the date of grant using a Monte Carlo simulation model;
l	“Dividend yields” means the sum of dividends declared for the four most recent quarterly periods, divided by the average price of our Common Stock for the comparable periods;
l	“Expected volatility” means the historical volatility of our Common Stock over the expected term of each grant.

SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Schedule of Net Sales and Earnings by Segment

Our segment net sales and earnings were as follows:



For the years ended December 31,	2018			2017			2016
Net sales:
North America	$	6,901,607		$	6,621,173		$	6,532,988
International and Other	889,462			894,253			907,193
Total	$	7,791,069		$	7,515,426		$	7,440,181

Segment income (loss):
North America	$	2,020,082		$	2,044,218		$	2,040,454
International and Other	73,762			11,532			(29,139		)
Total segment income	2,093,844			2,055,750			2,011,315
Unallocated corporate expense (1)	486,716			499,251			488,318
Unallocated mark-to-market (gains) losses on commodity derivatives	(168,263		)	(35,292		)	163,238
Long-lived and intangible asset impairment charges	57,729			208,712			4,204
Costs associated with business realignment activities	51,827			69,359			93,902
Acquisition-related costs	44,829			311			6,480
Gain on sale of licensing costs	(2,658		)	—			—
Operating profit	1,623,664			1,313,409			1,255,173
Interest expense, net	138,837			98,282			90,143
Other (income) expense, net	74,766			104,459			65,549
Income before income taxes	$	1,410,061		$	1,110,668		$	1,099,481

(1)

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

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



For the years ended December 31,	2018			2017			2016
Net (gains) losses on mark-to-market valuation of commodity derivative positions recognized in income	$	(69,379	)	$	55,734		$	171,753
Net losses on commodity derivative positions reclassified from unallocated to segment income	(98,884		)	(91,026		)	(8,515		)
Net (gains) losses on mark-to-market valuation of commodity derivative positions recognized in unallocated derivative (gains) losses	$	(168,263	)	$	(35,292	)	$	163,238

Schedule of Depreciation and Amortization Expense Included within Segment Income

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



For the years ended December 31,	2018		2017		2016
North America	$	205,340	$	171,265	$	162,211
International and Other	35,656		42,542		50,753
Corporate (1)	54,148		48,046		88,873
Total	$	295,144	$	261,853	$	301,837

(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.

Schedule of Segment Information by Geography

Additional geographic information is as follows:



For the years ended December 31,	2018		2017		2016
Net sales:
United States	$	6,535,675	$	6,263,703	$	6,196,723
Other	1,255,394		1,251,723		1,243,458
Total	$	7,791,069	$	7,515,426	$	7,440,181

Long-lived assets:
United States	$	1,668,186	$	1,575,496	$	1,528,255
Other	462,108		531,201		648,993
Total	$	2,130,294	$	2,106,697	$	2,177,248

Schedule of Revenue from External Customers by Products and Services

Additional product line information is as follows:



For the year ended December 31,	2018
Net sales:
Confectionery and confectionery-based portfolio	$	7,453,364
Snacks portfolio	337,705
Total	$	7,791,069

EQUITY AND NONCONTROLLING INTEREST (Tables)

12 Months Ended

Dec. 31, 2018

Equity [Abstract]

Schedule of the Changes in the Outstanding Shares of Common Stock

Changes in the outstanding shares of Common Stock for the past three years were as follows:



For the years ended December 31,	2018		2017		2016
Shares issued	359,901,744		359,901,744		359,901,744
Treasury shares at beginning of year	(149,040,927	)	(147,642,009	)	(143,124,384	)
Stock repurchases:
Shares repurchased in the open market under pre-approved share repurchase programs	(1,406,093	)	—		(4,640,964	)
Shares repurchased directly from the Milton Hershey School Trust	(450,000	)	(1,500,000	)	—
Shares repurchased to replace Treasury Stock issued for stock options and incentive compensation	(615,719	)	(1,278,675	)	(1,820,766	)
Stock issuances:
Shares issued for stock options and incentive compensation	1,339,899		1,379,757		1,944,105
Treasury shares at end of year	(150,172,840	)	(149,040,927	)	(147,642,009	)
Net shares outstanding at end of year	209,728,904		210,860,817		212,259,735

Schedule of Activity Relating to the Noncontrolling Interest

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	(6,511		)
Other comprehensive loss - foreign currency translation adjustments	(1,171		)
Balance, December 31, 2018	$	8,545

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Purchase Obligations Covered by Purchase Agreements with Various Suppliers Future Maturity Schedule



in millions	2019		2020		2021		2022		2023
Purchase obligations	$	1,495.9	$	870.9	$	7.5	$	0.7	$	—

Schedule of Future Minimum Lease Payments for Capital Leases

Future minimum payments under lease arrangements with a remaining term in excess of one year were as follows as of December 31, 2018:



	Operating leases (1)		Capital leases (2)
2019	$	38,041	$	6,980
2020	24,047		5,272
2021	16,883		3,901
2022	15,424		4,399
2023	13,494		4,577
Thereafter	185,608		169,686


(1)	Future minimum rental payments reflect commitments under non-cancelable operating leases primarily for offices, retail stores, warehouse and distribution facilities. Total rent expense for the years ended December 31, 2018, 2017 and 2016 was $34,157, $25,525 and $20,330, respectively, including short-term rentals.

(2)

Future minimum rental payments reflect commitments under non-cancelable capital leases primarily for offices and warehouse facilities, as well as vehicles.

EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 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:



For the years ended December 31,	2018					2017					2016
	Common Stock		Class B Common Stock			Common Stock		Class B Common Stock			Common Stock		Class B Common Stock
Basic earnings per share:
Numerator:
Allocation of distributed earnings (cash dividends paid)	$	410,732	$	151,789		$	385,878	$	140,394		$	367,081	$	132,394
Allocation of undistributed earnings	449,372		165,669			188,286		68,423			162,299		58,270
Total earnings—basic	$	860,104	$	317,458		$	574,164	$	208,817		$	529,380	$	190,664

Denominator (shares in thousands):
Total weighted-average shares—basic	149,379		60,614			151,625		60,620			153,519		60,620

Earnings Per Share—basic	$	5.76	$	5.24		$	3.79	$	3.44		$	3.45	$	3.15

Diluted earnings per share:
Numerator:
Allocation of total earnings used in basic computation	$	860,104	$	317,458		$	574,164	$	208,817		$	529,380	$	190,664
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock	317,458		—			208,817		—			190,664		—
Reallocation of undistributed earnings	—		(803		)	—		(492		)	—		(324		)
Total earnings—diluted	$	1,177,562	$	316,655		$	782,981	$	208,325		$	720,044	$	190,340

Denominator (shares in thousands):
Number of shares used in basic computation	149,379		60,614			151,625		60,620			153,519		60,620
Weighted-average effect of dilutive securities:
Conversion of Class B common stock to Common shares outstanding	60,614		—			60,620		—			60,620		—
Employee stock options	651		—			1,144		—			964		—
Performance and restricted stock units	345		—			353		—			201		—
Total weighted-average shares—diluted	210,989		60,614			213,742		60,620			215,304		60,620

Earnings Per Share—diluted	$	5.58	$	5.22		$	3.66	$	3.44		$	3.34	$	3.14

SUPPLEMENTAL BALANCE SHEET INFORMATION (Tables)

12 Months Ended

Dec. 31, 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:



December 31,	2018			2017
Inventories:
Raw materials	$	237,086		$	224,940
Goods in process	107,139			93,627
Finished goods	618,798			614,945
Inventories at FIFO	963,023			933,512
Adjustment to LIFO	(178,144		)	(180,676		)
Total inventories	$	784,879		$	752,836

Prepaid expenses and other:
Prepaid expenses	$	68,490		$	128,735
Assets held for sale	23,421			21,124
Other current assets	180,248			130,774
Total prepaid expenses and other	$	272,159		$	280,633

Property, plant and equipment:
Land	$	102,074		$	108,300
Buildings	1,211,011			1,214,158
Machinery and equipment	2,988,027			2,925,353
Construction in progress	280,559			212,912
Property, plant and equipment, gross	4,581,671			4,460,723
Accumulated depreciation	(2,451,377		)	(2,354,026		)
Property, plant and equipment, net	$	2,130,294		$	2,106,697

Other assets:
Capitalized software, net	$	126,379		$	104,881
Other non-current assets	126,605			146,998
Total other assets	$	252,984		$	251,879

Accrued liabilities:
Payroll, compensation and benefits	$	180,546		$	190,863
Advertising, promotion and product allowances	293,642			305,107
Liabilities held for sale	596			—
Other	204,379			180,164
Total accrued liabilities	$	679,163		$	676,134

Other long-term liabilities:
Post-retirement benefits liabilities	$	195,166		$	215,320
Pension benefits liabilities	66,379			39,410
Other	184,503			184,209
Total other long-term liabilities	$	446,048		$	438,939

Accumulated other comprehensive loss:
Foreign currency translation adjustments	$	(96,678	)	$	(91,837	)
Pension and post-retirement benefit plans, net of tax	(205,230		)	(169,526		)
Cash flow hedges, net of tax	(54,872		)	(52,383		)
Total accumulated other comprehensive loss	$	(356,780	)	$	(313,746	)

QUARTERLY DATA (Tables)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

Summary quarterly results were as follows:



Year 2018	First		Second		Third		Fourth
Net sales	$	1,971,959	$	1,751,615	$	2,079,593	$	1,987,902
Gross profit	974,060		793,420		863,493		944,352
Net income attributable to The Hershey Company	350,203		226,855		263,713		336,791
Common stock:
Net income per share—Basic^(a)	1.71		1.11		1.29		1.65
Net income per share—Diluted^(a)	1.65		1.08		1.25		1.60
Dividends paid per share	0.656		0.656		0.722		0.722
Class B common stock:
Net income per share—Basic^(a)	1.55		1.01		1.17		1.50
Net income per share—Diluted^(a)	1.55		1.01		1.17		1.49
Dividends paid per share	0.596		0.596		0.656		0.656
Market price—common stock:
High	114.06		100.60		106.60		110.01
Low	96.06		89.54		91.04		101.64



Year 2017	First		Second		Third		Fourth
Net sales	$	1,879,678	$	1,662,991	$	2,033,121	$	1,939,636
Gross profit	909,352		765,847		942,936		837,241
Net income attributable to The Hershey Company	125,044		203,501		273,303		181,133
Common stock:
Net income per share—Basic^(a)	0.60		0.98		1.32		0.88
Net income per share—Diluted^(a)	0.58		0.95		1.28		0.85
Dividends paid per share	0.618		0.618		0.656		0.656
Class B common stock:
Net income per share—Basic^(a)	0.55		0.89		1.20		0.80
Net income per share—Diluted^(a)	0.55		0.89		1.20		0.80
Dividends paid per share	0.562		0.562		0.596		0.596
Market price—common stock:
High	109.61		115.96		110.50		115.45
Low	103.45		106.41		104.06		102.87

(a)

Quarterly income per share amounts do not total to the annual amount due to changes in weighted-average shares outstanding during the year.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - REVENUE RECOGNITION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Promotional Costs, Estimate Deviation, Percentage (Less Than)	3.00%	3.00%	3.00%
Unsettled Accrued Liabilities	$ 171,449	$ 173,669
Sales Revenue, Goods, Net \| Customer Concentration Risk \| McLane Company, Inc.
Concentration Risk, Percentage	28.00%	29.00%	25.00%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - SELLING, MARKETING AND ADMINISTRATIVE EXPENSE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accounting Policies [Abstract]
Research and development costs	$ 38,521	$ 45,850	$ 47,268
Advertising expense	479,908	541,293	$ 521,479
Prepaid advertising expense	$ 594	$ 56

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - ACCOUNTS RECEIVABLE - TRADE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Revenue, Major Customer [Line Items]
Allowance for doubtful accounts	$ 24,610	$ 41,792
McLane Company, Inc. \| Customer Concentration Risk \| Accounts Receivable
Revenue, Major Customer [Line Items]
Concentration Risk, Percentage	26.00%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Assets under capital lease arrangements, net	$ 110,249	$ 116,843
Depreciation	$ 231,012	$ 211,592	$ 231,735
Machinery and Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Machinery and Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	15 years
Building and Building Improvements \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	25 years
Building and Building Improvements \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	40 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - COMPUTER SOFTWARE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Capitalized software, net	$ 126,379	$ 104,881
Computer Software
Property, Plant and Equipment [Line Items]
Capitalized software, net	126,379	104,881
Capitalized computer software, accumulated amortization	$ 316,710	$ 296,042
Computer Software \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Computer Software \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	7 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - RECENT ACCOUNTING PRONOUNCEMENTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of sales	$ 4,215,744	$ 4,060,050	$ 4,270,642
Tax Cuts and Jobs Act of 2017, Reclassification from AOCI to Retained Earnings	47,656
Selling, General and Administrative Expense	(1,874,829)	(1,885,492)	(1,891,305)
Restructuring Charges, Business Realignment	(19,103)	(47,763)	(18,857)
Other Nonoperating Income (Expense)	(74,766)	(104,459)	(65,549)
Net Cash Provided by (Used in) Operating Activities	1,599,993	1,249,515	1,013,428
Net Cash Provided by (Used in) Financing Activities	(116,108)	843,768	464,396
Accounting Standards Update 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of sales	(10,857)	(11,648)
Selling, General and Administrative Expense	27,911	24,073
Restructuring Charges, Business Realignment	0	13,669
Other Nonoperating Income (Expense)	$ 38,768	49,390
Accounting Standards Update 2016-09, Excess Tax Benefit Component [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net Cash Provided by (Used in) Operating Activities		24,901	29,953
Net Cash Provided by (Used in) Financing Activities		$ 24,901	$ 29,953
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease right-of-use asset				$ 230,000
Lease liability				220,000
Accounting Standards Update 2016-02 \| Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of new accounting principle in period of adoption				$ 7,000

BUSINESS ACQUISITIONS - PIRATE BRANDS NARRATIVE (Details) - USD ($) $ in Thousands		3 Months Ended								12 Months Ended
	Oct. 17, 2018	Dec. 31, 2018	Sep. 30, 2018	Jul. 01, 2018	Apr. 01, 2018	Dec. 31, 2017	Oct. 01, 2017	Jul. 02, 2017	Apr. 02, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Net sales		$ 1,987,902	$ 2,079,593	$ 1,751,615	$ 1,971,959	$ 1,939,636	$ 2,033,121	$ 1,662,991	$ 1,879,678		$ 7,791,069	$ 7,515,426	$ 7,440,181
Pirate Brands
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	$ 423,002
Finite-Lived Trademarks, Gross	272,000
Finite-Lived Customer Relationships, Gross	$ 17,300
Trademarks \| Pirate Brands
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life	45 years
Minimum \| Customer Relationships \| Pirate Brands
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life	16 years
Maximum \| Customer Relationships \| Pirate Brands
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life	18 years
Scenario, Forecast \| Pirate Brands
Business Acquisition [Line Items]
Net sales										$ 90,000

BUSINESS ACQUISITIONS - PIRATE BRANDS ASSETS ACQUIRED AND LIABILITIES ASSUMED ALLOCATION (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Oct. 17, 2018	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Goodwill	$ 1,801,103		$ 821,061	$ 812,344
Pirate Brands
Business Acquisition [Line Items]
Inventories		$ 4,663
Plant, property and equipment, net		48
Goodwill		129,991
Other intangible assets		289,300
Accrued liabilities		1,000
Net assets acquired		$ 423,002

BUSINESS ACQUISITIONS - AMPLIFY SNACK BRANDS, INC NARRATIVE (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Jan. 31, 2018	Dec. 31, 2018
Business Acquisition [Line Items]
Business Acquisition, Equity Interests Received, Common Stock, Value	$ 907,766
Purchase price allocation adjustments		$ 27,001
Amplify Snack Brands, Inc.
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	$ 968,781
Business Acquisition, Share Price	$ 12.00
Purchase price allocation adjustments		27,001
Finite-Lived Trademarks, Gross	$ 648,000
Finite-Lived Customer Relationships, Gross	$ 34,000
Business Combination, Acquisition Related Costs		$ 20,577
Minimum \| Trademarks \| Amplify Snack Brands, Inc.
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life	28 years
Minimum \| Customer Relationships \| Amplify Snack Brands, Inc.
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life	14 years
Maximum \| Trademarks \| Amplify Snack Brands, Inc.
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life	38 years
Maximum \| Customer Relationships \| Amplify Snack Brands, Inc.
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life	18 years

BUSINESS ACQUISITIONS - AMPLIFY SNACK BRANDS, INC ASSETS ACQUIRED AND LIABILITIES ASSUMED ALLOCATION (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Jan. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Goodwill	$ 1,801,103		$ 821,061	$ 812,344
Amplify Snack Brands, Inc.
Business Acquisition [Line Items]
Cash acquired		$ 53,324
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

BUSINESS ACQUISITIONS - RIPPLE BRAND COLLECTIVE, LLC ASSETS ACQUIRED AND LIABILITIES ASSUMED ALLOCATION (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Apr. 26, 2016
Business Acquisition [Line Items]
Goodwill	$ 1,801,103	$ 821,061	$ 812,344
Ripple Brand Collective, LLC
Business Acquisition [Line Items]
Goodwill				$ 128,110
Other current assets				12,375
Cash acquired				674
Current liabilities				(7,211)
Net assets acquired				285,374
Trademarks \| Ripple Brand Collective, LLC
Business Acquisition [Line Items]
Other intangible assets				91,200
Other intangible assets \| Ripple Brand Collective, LLC
Business Acquisition [Line Items]
Other intangible assets				$ 60,900

BUSINESS ACQUISITIONS - SHANGHAI GOLDEN MONKEY NARRATIVE (Details) - USD ($) $ in Thousands		12 Months Ended
	Feb. 03, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Sep. 26, 2014
Business Acquisition [Line Items]
Payment of SGM liability (see Note 2)		$ 0	$ 0	$ 35,762
Gain on settlement of SGM liability (see Note 2)		0	0	26,650
Shanghai Golden Monkey Food Joint Stock Co., Ltd.
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	20.00%				100.00%	80.00%
Payment of SGM liability (see Note 2)	$ 35,762
Gain on settlement of SGM liability (see Note 2)	$ 26,650	$ 0	$ 0	$ 26,650

GOODWILL AND INTANGIBLE ASSETS - SCHEDULE OF CHANGES IN CARRYING VALUE OF GOODWILL BY REPORTABLE SEGMENT (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Goodwill [Line Items]
Goodwill, gross			$ 1,174,692
Accumulated impairment loss			(362,348)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 1,801,103	$ 821,061	812,344
Acquired during the period (see Note 2)	1,069,379
Purchase price allocation adjustments	27,001
Divested during the period	(98,379)
Foreign Currency Translation	(17,959)	8,717
Goodwill, ending balance	1,801,103	821,061
Operating Segments \| North America
Goodwill [Line Items]
Goodwill, gross			797,163
Accumulated impairment loss			(4,973)
Goodwill [Roll Forward]
Goodwill, beginning balance	1,782,845	799,929	792,190
Acquired during the period (see Note 2)	1,069,379
Purchase price allocation adjustments	27,001
Divested during the period	(98,379)
Foreign Currency Translation	(15,085)	7,739
Goodwill, ending balance	1,782,845	799,929
Operating Segments \| International and Other
Goodwill [Line Items]
Goodwill, gross			377,529
Accumulated impairment loss			(357,375)
Goodwill [Roll Forward]
Goodwill, beginning balance	18,258	21,132	$ 20,154
Acquired during the period (see Note 2)	0
Purchase price allocation adjustments	0
Divested during the period	0
Foreign Currency Translation	(2,874)	978
Goodwill, ending balance	$ 18,258	$ 21,132

GOODWILL AND INTANGIBLE ASSETS - GOODWILL AND INTANGIBLE ASSETS NARRATIVE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Impairment Loss	$ 0	$ 0	$ 0
Impairment of Intangible Assets (Excluding Goodwill)		105,992	4,204
Amortization of Intangible Assets	$ 38,555	$ 23,376	$ 26,687

GOODWILL AND INTANGIBLE ASSETS - SCHEDULE OF GROSS CARRYING AMOUNT AND ACCUMULATED AMORTIZATION FOR EACH MAJOR CLASS OF INTANGIBLE ASSET (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 1,353,936	$ 422,664
Finite-lived intangible assets, accumulated amortization	(110,283)	(88,144)
Total other intangible assets	1,278,292	369,156
Trademarks
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets, excluding goodwill	34,639	34,636
Trademarks
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	1,173,770	277,473
Finite-lived intangible assets, accumulated amortization	(60,995)	(37,510)
Customer-related
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	163,860	128,182
Finite-lived intangible assets, accumulated amortization	(33,516)	(34,659)
Patents
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	16,306	17,009
Finite-lived intangible assets, accumulated amortization	$ (15,772)	$ (15,975)

GOODWILL AND INTANGIBLE ASSETS - SCHEDULE OF AMORTIZATION EXPENSE, FOR THE NEXT FIVE YEARS (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2019	$ 44,565
2020	43,986
2021	43,971
2022	43,971
2023	$ 43,971

SHORT AND LONG-TERM DEBT - SHORT-TERM DEBT NARRATIVE (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Line of Credit Facility [Line Items]
Short-term debt	$ 1,197,929,000	$ 559,359,000
Short-term debt, weighted average interest rate	2.50%	1.70%
Maximum amount of short term borrowing outstanding	$ 2,246,485,000	$ 815,588,000
Commercial Paper
Line of Credit Facility [Line Items]
Short-term debt	$ 1,084,740,000	$ 448,675,000
Short-term debt, weighted average interest rate	2.40%	1.40%
Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Debt instrument, covenant, pre-tax income from operations to consolidated interest expense, minimum	200.00%
Revolving Credit Facility \| Foreign Line of Credit
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 386,590,000	$ 440,148,000
Short-term foreign bank loans against the lines of credit	113,189,000	$ 110,684,000
Line of Credit \| Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,400,000,000

SHORT AND LONG-TERM DEBT - SCHEDULE OF LONG-TERM DEBT INSTRUMENTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total long-term debt	$ 3,259,667	$ 2,361,121
Net impact of interest rate swaps, debt issuance costs and unamortized debt discounts	(20,667)	(16,427)
Less—current portion	5,387	300,098
Long-term portion	3,254,280	2,061,023
Proceeds from Issuance of Other Long-term Debt	1,193,830	792,953
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%
Corporate Debt Securities \| 2.90% Notes due 2020 (2)
Debt Instrument [Line Items]
Total long-term debt	$ 350,000	$ 0
Interest rate, stated percentage	2.90%	2.90%
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 (2)
Debt Instrument [Line Items]
Total long-term debt	$ 350,000	$ 0
Interest rate, stated percentage	3.10%	3.10%
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 (2)
Debt Instrument [Line Items]
Total long-term debt	$ 500,000	$ 0
Interest rate, stated percentage	3.375%	3.375%
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 (3)
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	$ 101,980	$ 99,194

SHORT AND LONG-TERM DEBT - LONG TERM DEBT INTEREST RATES (Details) - Corporate Debt Securities	Dec. 31, 2018	Dec. 31, 2017
1.60% Notes due 2018 (1)
Debt Instrument [Line Items]
Interest rate, stated percentage	1.60%	1.60%
2.90% Notes due 2020 (2)
Debt Instrument [Line Items]
Interest rate, stated percentage	2.90%	2.90%
4.125% Notes due 2020
Debt Instrument [Line Items]
Interest rate, stated percentage	4.125%	4.125%
3.10% Notes due 2021 (2)
Debt Instrument [Line Items]
Interest rate, stated percentage	3.10%	3.10%
8.8% Debentures due 2021
Debt Instrument [Line Items]
Interest rate, stated percentage	8.80%	8.80%
3.375% Notes due 2023 (2)
Debt Instrument [Line Items]
Interest rate, stated percentage	3.375%	3.375%
2.625% Notes due 2023
Debt Instrument [Line Items]
Interest rate, stated percentage	2.625%	2.625%
3.20% Notes due 2025
Debt Instrument [Line Items]
Interest rate, stated percentage	3.20%	3.20%
2.30% Notes due 2026 (3)
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 - LONG TERM DEBT NARRATIVE (Details) - USD ($) $ in Thousands	1 Months Ended
	Nov. 30, 2016	Sep. 30, 2016	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Long-term Debt			$ 3,259,667	$ 2,361,121
Corporate Debt Securities \| 5.45% Notes due 2016
Debt Instrument [Line Items]
Repayments of Debt		$ 250,000
Interest rate, stated percentage		5.45%
Corporate Debt Securities \| 1.50% Notes due 2016
Debt Instrument [Line Items]
Repayments of Debt	$ 250,000
Interest rate, stated percentage	1.50%

SHORT AND LONG-TERM DEBT - SCHEDULE OF MATURITIES OF LONG-TERM DEBT (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
2019	$ 0
2020	700,000
2021	434,715
2022	0
2023	750,000
Thereafter	$ 1,293,639

SHORT AND LONG-TERM DEBT - SCHEDULE OF NET INTEREST EXPENSE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
Interest expense	$ 151,950	$ 104,232	$ 97,851
Capitalized interest	5,092	4,166	5,903
Interest expense	146,858	100,066	91,948
Interest income	(8,021)	(1,784)	(1,805)
Interest expense, net	$ 138,837	$ 98,282	$ 90,143

DERIVATIVE INSTRUMENTS - DERIVATIVE INSTRUMENTS NARRATIVE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Derivative [Line Items]
Cash flow hedge gain (loss) to be reclassified within twelve months	$ 6,570
Commodities futures and options \| Non-designated Hedges
Derivative [Line Items]
Derivative, notional amount	$ 693,463	$ 405,288
Commodities futures and options \| Non-designated Hedges \| Minimum
Derivative [Line Items]
Derivative, term of contract	3 months
Commodities futures and options \| Non-designated Hedges \| Maximum
Derivative [Line Items]
Derivative, term of contract	24 months
Foreign exchange contracts
Derivative [Line Items]
Minimum length of time, hedged in cash flow hedge	3 months
Maximum length of time, hedged in cash flow hedge	12 months
Foreign exchange contracts \| Designated as Hedging Instrument \| Cash Flow Hedges
Derivative [Line Items]
Derivative, notional amount	$ 29,458	135,962
Foreign exchange contracts \| Non-designated Hedges
Derivative [Line Items]
Derivative, notional amount	11,072	2,791
Interest rate swap agreements \| Designated as Hedging Instrument \| Cash Flow Hedges
Derivative [Line Items]
Derivative, notional amount			$ 500,000
Increase (Decrease) in Derivative Assets and Liabilities			$ 87,000
Interest rate swap agreements \| Designated as Hedging Instrument \| Fair Value Hedging
Derivative [Line Items]
Derivative, notional amount	350,000	350,000
Deferred compensation derivatives
Derivative [Line Items]
Derivative, notional amount	$ 33,168	25,246
Deferred compensation derivatives \| Non-designated Hedges \| Minimum
Derivative [Line Items]
Derivative, term of contract	3 months
Deferred compensation derivatives \| Non-designated Hedges \| Maximum
Derivative [Line Items]
Derivative, term of contract	12 months
Interest rate swap \| Designated as Hedging Instrument \| Fair Value Hedging \| Interest Expense
Derivative [Line Items]
Fair value hedges, pre-tax benefit	$ (748)	$ 2,660

DERIVATIVE INSTRUMENTS - SCHEDULE OF THE CLASSIFICATION OF DERIVATIVE ASSETS AND LIABILITIES WITHIN THE CONSOLIDATED BALANCE SHEETS (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Derivative asset	$ 10,694	$ 2,425
Derivative liability	10,799	6,378
Designated as Hedging Instrument \| Cash Flow Hedges \| Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Derivative asset	3,394	423
Derivative liability	485	1,427
Designated as Hedging Instrument \| Fair Value Hedging \| Interest rate swap agreements
Derivatives, Fair Value [Line Items]
Derivative asset	0	0
Derivative liability	4,832	1,897
Non-designated Hedges
Derivatives, Fair Value [Line Items]
Derivative asset	7,300	2,002
Derivative liability	5,482	3,054
Non-designated Hedges \| Commodities futures and options
Derivatives, Fair Value [Line Items]
Derivative asset	7,230	390
Derivative liability	262	3,054
Gross derivative assets, included within derivative liabilities	63,978	48,505
Derivative liability, gross liabilities	57,351	50,179
Non-designated Hedges \| Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Derivative asset	70	31
Derivative liability	484	0
Non-designated Hedges \| Deferred compensation derivatives
Derivatives, Fair Value [Line Items]
Derivative asset	0	1,581
Derivative liability	$ 4,736	$ 0

DERIVATIVE INSTRUMENTS - SCHEDULE OF THE EFFECT OF DERIVATIVE INSTRUMENTS ON THE CONSOLIDATED STATEMENTS OF INCOME (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ 68,178	$ (51,260)
Gains (losses) recognized in other comprehensive income (“OCI”) (effective portion)	5,822	(4,931)	$ (52,708)
Commodities futures and options
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	69,379	(55,734)
Foreign exchange contracts
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	972	(23)
Interest rate swap agreements
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	0	0
Deferred compensation derivatives
Derivative [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(2,173)	4,497
Designated as Hedging Instrument \| Cash Flow Hedges
Derivative [Line Items]
Gains (losses) recognized in other comprehensive income (“OCI”) (effective portion)	5,822	(4,931)
Gains (losses) reclassified from accumulated OCI into income (effective portion)	(5,573)	(14,434)
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
Gains (losses) reclassified from accumulated OCI into income (effective portion)	0	(1,774)
Designated as Hedging Instrument \| Cash Flow Hedges \| Foreign exchange contracts
Derivative [Line Items]
Gains (losses) recognized in other comprehensive income (“OCI”) (effective portion)	5,822	(4,931)
Gains (losses) reclassified from accumulated OCI into income (effective portion)	3,906	(3,180)
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
Gains (losses) reclassified from accumulated OCI into income (effective portion)	(9,479)	(9,480)
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
Gains (losses) reclassified from accumulated OCI into income (effective portion)	$ 0	$ 0

FAIR VALUE MEASUREMENTS - SCHEDULE OF ASSETS AND LIABILITIES MEASURED AT FAIR VALUE (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	$ 10,694	$ 2,425
Derivative liability	10,799	6,378
Fair Value, Measurements, Recurring \| Foreign exchange contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	3,464	454
Derivative liability	969	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	3,464	454
Derivative liability	969	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	4,832	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	4,832	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		1,581
Derivative liability	4,736
Fair Value, Measurements, Recurring \| Deferred compensation derivatives \| Quoted prices in active markets of identical assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset		0
Derivative liability	0
Fair Value, Measurements, Recurring \| Deferred compensation derivatives \| Significant other observable inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset		1,581
Derivative liability	4,736
Fair Value, Measurements, Recurring \| Deferred compensation derivatives \| Significant other unobservable inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset		0
Derivative liability		0
Fair Value, Measurements, Recurring \| Commodities futures and options
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	7,230	390
Derivative liability	262	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	7,230	390
Derivative liability	262	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	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of long-term debt	$ 5,387	$ 300,098
Long-term portion	3,254,280	2,061,023
Long-term Debt	3,259,667	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	5,387	299,430
Long-term Debt, Excluding Current Maturities, Fair Value	3,228,877	2,113,296
Long-term Debt, Fair Value	3,234,264	2,412,726
Current portion of long-term debt	5,387	300,098
Long-term portion	3,254,280	2,061,023
Long-term Debt	$ 3,259,667	$ 2,361,121

FAIR VALUE MEASUREMENTS - FAIR VALUE MEASUREMENTS NARRATIVE (Details) - USD ($)	3 Months Ended	12 Months Ended
	Apr. 02, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Derivative [Line Items]
Impairment of Long-Lived Assets to be Disposed of		$ 57,729,000
Impairment of Intangible Assets (Excluding Goodwill)			$ 105,992,000	$ 4,204,000
Margin for Growth Program
Derivative [Line Items]
Impairment of Intangible Assets (Excluding Goodwill)	$ 105,992,000		105,992,000
Impairment of Long-Lived Assets Held-for-use	$ 102,720,000		102,720,000
Significant other unobservable inputs (Level 3)
Derivative [Line Items]
Fair Value, Net Asset (Liability)		$ 0	$ 0

ASSETS AND LIABILITIES HELD FOR SALE ASSETS AND LIABILITIES HELD FOR SALE (Details) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
	Apr. 30, 2018	Jul. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment			$ 20,905
Disposal Group, Including Discontinued Operation, Other Assets			2,516
Disposal Group, Including Discontinued Operation, Assets			23,421	$ 21,124
Disposal Group, Including Discontinued Operation, Accounts Payable and Accrued Liabilities			596
Disposal Group, Including Discontinued Operation, Liabilities			596	0
Proceeds from sales of property, plant and equipment and other long-lived assets			49,759	7,609	$ 3,651
Proceeds from sales of businesses, net of cash and cash equivalents divested			167,048	0	0
Long-lived asset impairment charges			57,729	$ 208,712	$ 4,204
Facility Closing \| Operation Optimization Program
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sales of property, plant and equipment and other long-lived assets			27,468
Gain (loss) on disposition of property plant equipment			$ (6,562)
Tyrrells and Shanghai Golden Monkey (SGM)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sales of businesses, net of cash and cash equivalents divested		$ 167,048
Long-lived asset impairment charges		$ 33,729
Licensing Agreements
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of intangible assets	$ 13,000
Gain (loss) on disposition of intangible assets	$ 2,658

BUSINESS REALIGNMENT ACTIVITIES - SCHEDULE OF BUSINESS REALIGNMENT ACTIVITY (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Restructuring Cost and Reserve [Line Items]
Business realignment costs	$ 51,827,000	$ 69,359,000	$ 93,902,000
Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	55,449,000	55,834,000
Operation Optimization Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs		13,525,000	88,293,000
Severance \| Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	15,378,000	32,554,000	0
Severance \| Operation Optimization Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	0	13,828,000	17,872,000
Accelerated depreciation and amortization \| Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	9,131,000	6,873,000	0
Accelerated depreciation and amortization \| Operation Optimization Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	0	0	48,590,000
Other program costs \| Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	30,940,000	16,407,000	0
Other program costs \| Operation Optimization Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	2,940,000	(303,000)	21,831,000
Other program costs \| Productivity Initiative 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Business realignment costs	0	0	5,609,000
Facility Closing \| Operation Optimization Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs	(6,562,000)	0	0
Cost of Sales
Restructuring Cost and Reserve [Line Items]
Business realignment costs	11,323,000	5,147,000	58,106,000
Selling, marketing and administrative
Restructuring Cost and Reserve [Line Items]
Business realignment costs	21,401,000	16,449,000	16,939,000
Business realignment charges
Restructuring Cost and Reserve [Line Items]
Business realignment costs	$ 19,103,000	$ 47,763,000	$ 18,857,000

BUSINESS REALIGNMENT ACTIVITIES - BUSINESS REALIGNMENT ACTIVITIES NARRATIVE (Details)	3 Months Ended	6 Months Ended	12 Months Ended
	Apr. 02, 2017 USD ($)	Dec. 31, 2015 employee	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Feb. 28, 2017 USD ($)
Restructuring Cost and Reserve [Line Items]
Long-lived asset impairment charges			$ 57,729,000	$ 208,712,000	$ 4,204,000
Business realignment costs			51,827,000	69,359,000	93,902,000
Impairment of Intangible Assets (Excluding Goodwill)				105,992,000	4,204,000
Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date			336,295,000
Long-lived asset impairment charges	$ 208,712,000		16,300,000	208,712,000
Restructuring and Related Cost, Expected Number of Positions Eliminated, Percent						15.00%
Business realignment costs			55,449,000	55,834,000
Impairment of Intangible Assets (Excluding Goodwill)	105,992,000			105,992,000
Impairment of Long-Lived Assets Held-for-use	$ 102,720,000			102,720,000
Margin for Growth Program \| Severance
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date			47,932,000
Business realignment costs			15,378,000	32,554,000	0
Margin for Growth Program \| Other program costs
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date			63,351,000
Business realignment costs			30,940,000	16,407,000	0
Operation Optimization Program
Restructuring Cost and Reserve [Line Items]
Business realignment costs				13,525,000	88,293,000
Operation Optimization Program \| Severance
Restructuring Cost and Reserve [Line Items]
Business realignment costs			0	13,828,000	17,872,000
Operation Optimization Program \| Other program costs
Restructuring Cost and Reserve [Line Items]
Business realignment costs			2,940,000	(303,000)	21,831,000
Operation Optimization Program \| Facility Closing
Restructuring Cost and Reserve [Line Items]
Business realignment costs			(6,562,000)	0	0
2015 Productivity Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date			5,609,000
Restructuring and Related Cost, Expected Number of Positions Eliminated \| employee		300
2015 Productivity Initiative \| Other program costs
Restructuring Cost and Reserve [Line Items]
Business realignment costs			$ 0	$ 0	$ 5,609,000
Business realignment charges \| Geographic Concentration Risk \| North America \| Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Concentration Risk, Percentage			60.00%
Business realignment charges \| Geographic Concentration Risk \| North America \| Operation 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			40.00%
Business realignment charges \| Geographic Concentration Risk \| International and Other \| Operation 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			$ 340,000,000			$ 375,000,000
Restructuring and Related Cost, Expected Cost, Cash Portion			97,000,000
Maximum \| Margin for Growth Program
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost			355,000,000			$ 425,000,000
Restructuring and Related Cost, Expected Cost, Cash Portion			$ 110,000,000

BUSINESS REALIGNMENT ACTIVITIES - SCHEDULE OF LIABILITY ACTIVITY FOR COSTS QUALIFYING AS EXIT AND DISPOSAL COSTS (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($)
Restructuring Reserve [Roll Forward]
Liability balance at December 31, 2017	$ 38,992
2018 business realignment charges	25,940
Cash payments	(50,996)
Other, net	669
Liability balance at December 31, 2018	$ 14,605

INCOME TAXES - SCHEDULE OF INCOME (LOSS) BEFORE TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Domestic	$ 1,195,645	$ 1,187,825	$ 1,395,440
Foreign	214,416	(77,157)	(295,959)
Income before income taxes	$ 1,410,061	$ 1,110,668	$ 1,099,481

INCOME TAXES - SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE (BENEFIT) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current:
Federal	$ 151,107	$ 314,277	$ 391,705
State	38,243	37,628	51,706
Foreign	13,405	(16,356)	(25,877)
Current provision for income taxes	202,755	335,549	417,534
Deferred:
Federal	35,035	19,204	(7,706)
State	7,572	7,573	(452)
Foreign	(6,352)	(8,195)	(29,939)
Deferred income tax provision	36,255	18,582	(38,097)
Total provision for income taxes	$ 239,010	$ 354,131	$ 379,437

INCOME TAXES - INCOME TAXES NARRATIVE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Contingency [Line Items]
Tax Cuts and Jobs Act of 2017, change in tax rate, income tax expense		$ 32,500
Tax Cuts and Jobs Act of 2017, measurement period adjustment, income tax expense (benefit)	$ 19,500
Amount of unrecognized tax benefits that if recognized would affect the effective tax rate	93,507	37,587
Net tax expense (benefit) for interest and penalties	1,785	795	$ (75)
Accrued net interest and penalties	6,154	4,966
Expected reduction in the liability for unrecognized tax benefits within the next 12 months	9,637
Undistributed earnings of foreign subsidiaries	550,591
Investment tax credits and related tax depreciation benefits	60,111	74,600
Write-down of equity investments in partnerships qualifying for historic tax credits	50,329	66,209	$ 43,482
Other Nonoperating Income (Expense) \| Partnerships Qualifying For Tax Credits
Income Tax Contingency [Line Items]
Write-down of equity investments in partnerships qualifying for historic tax credits	$ 50,329	$ 66,209

INCOME TAXES - SCHEDULE OF DEFERRED TAX ASSET AND LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Post-retirement benefit obligations	$ 52,915	$ 58,306
Accrued expenses and other reserves	85,180	103,769
Stock-based compensation	30,448	31,364
Derivative instruments	17,423	27,109
Pension	8,921	0
Lease financing obligation	12,284	12,310
Accrued trade promotion reserves	13,670	26,028
Net operating loss carryforwards	161,242	226,142
Capital loss carryforwards	26,670	23,215
Other	9,969	7,748
Gross deferred tax assets	418,722	515,991
Valuation allowance	(239,959)	(312,148)
Total deferred tax assets	178,763	203,843
Deferred tax liabilities:
Property, plant and equipment, net	144,044	132,443
Acquired intangibles	161,003	68,476
Inventories	21,366	20,769
Pension	0	969
Other	28,044	23,819
Total deferred tax liabilities	354,457	246,476
Net deferred tax liabilities	(175,694)	(42,633)
Included in:
Non-current deferred tax assets, net	1,166	3,023
Non-current deferred tax liabilities, net	$ (176,860)	$ (45,656)

INCOME TAXES - SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Federal statutory income tax rate	21.00%	35.00%	35.00%
State income taxes, net of Federal income tax benefits	2.70%	2.60%	3.40%
Qualified production income deduction	0.00%	(2.90%)	(3.80%)
Business realignment and impairment charges	0.60%	4.30%	0.40%
Foreign rate differences	(2.00%)	(4.30%)	3.60%
Historic and solar tax credits	(3.50%)	(4.80%)	(3.30%)
U.S. tax reform	(1.40%)	2.90%	0.00%
Tax contingencies	0.50%	0.50%	0.10%
Other, net	(0.90%)	(1.40%)	(0.90%)
Effective income tax rate	17.00%	31.90%	34.50%

INCOME TAXES - SCHEDULE OF UNRECOGNIZED TAX BENEFITS ROLL FORWARD (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 42,082	$ 36,002
Additions for tax positions taken during prior years	1,174	2,492
Reductions for tax positions taken during prior years	(2,581)	(1,689)
Additions for tax positions taken during the current year	61,627	10,018
Settlements	0	(1,481)
Expiration of statutes of limitations	(4,772)	(3,260)
Balance at end of year	$ 97,530	$ 42,082

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS NARRATIVE (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($) postretirement_plan	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Number of defined benefit, other post-retirement plans, and defined contribution other post-retirement plans (postretirement plan) \| postretirement_plan	2
Defined benefit plan, accumulated benefit obligation	$ 994,278	$ 1,077,112
Defined contribution pan, cost recognized	47,959	46,154	$ 43,545
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	9,233	37,503
Defined benefit plans, minimum future employer contributions in next fiscal year	$ 1,445
Pension Benefits \| Unfunded Plan \| Hershey Company Puerto Rico Hourly Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Employer contributions		6,461
Supplemental Employee Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Employer contributions		$ 29,201
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Health Care Cost Trend Rate Assumed, Next Fiscal Year	7.00%	7.00%
Employer contributions	$ 16,631	$ 18,930
Other Benefits \| Scenario, Forecast
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, ultimate health care cost trend rate				5.00%

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - SCHEDULE OF DEFINED BENEFIT OBLIGATIONS, PLAN ASSETS AND FUNDED STATUS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Amounts recognized in Accumulated Other Comprehensive Income (Loss), net of tax:
Net amounts recognized in AOCI	$ 205,230	$ 169,526
Pension Benefits
Change in benefit obligation
Projected benefit obligation at beginning of year	1,117,564	1,118,318
Service cost	21,223	20,657	$ 23,075
Interest cost	31,943	40,996	41,875
Plan amendments	0	(8,473)
Actuarial (gain) loss	(50,432)	40,768
Curtailment	(16)	0
Settlement	(61,268)	(44,978)
Currency translation and other	(4,674)	6,749
Benefits paid	23,134	56,473
Projected benefit obligation at end of year	1,031,206	1,117,564	1,118,318
Change in plan assets
Fair value of plan assets at beginning of year	1,086,226	1,023,676
Actual return on plan assets	(43,118)	121,241
Employer contributions	9,233	37,503
Settlement	(61,268)	(44,978)
Currency translation and other	(4,078)	5,257
Benefits paid	23,134	56,473
Fair value of plan assets at end of year	963,861	1,086,226	1,023,676
Funded status at end of year	(67,345)	(31,338)
Amounts recognized in the Consolidated Balance Sheets:
Other assets	332	14,988
Accrued liabilities	(1,298)	(6,916)
Other long-term liabilities	(66,379)	(39,410)
Total	(67,345)	(31,338)
Amounts recognized in Accumulated Other Comprehensive Income (Loss), net of tax:
Actuarial net (loss) gain	(254,735)	(207,659)
Net prior service credit (cost)	32,350	30,994
Net amounts recognized in AOCI	(222,385)	(176,665)
Other Benefits
Change in benefit obligation
Projected benefit obligation at beginning of year	236,112	242,846
Service cost	230	263	299
Interest cost	6,923	8,837	9,731
Plan amendments	0	0
Actuarial (gain) loss	(10,842)	2,207
Curtailment	0	0
Settlement	0	0
Currency translation and other	(1,073)	889
Benefits paid	16,631	18,930
Projected benefit obligation at end of year	214,719	236,112	242,846
Change in plan assets
Fair value of plan assets at beginning of year	0	0
Actual return on plan assets	0	0
Employer contributions	16,631	18,930
Settlement	0	0
Currency translation and other	0	0
Benefits paid	16,631	18,930
Fair value of plan assets at end of year	0	0	$ 0
Funded status at end of year	(214,719)	(236,112)
Amounts recognized in the Consolidated Balance Sheets:
Other assets	0	0
Accrued liabilities	(19,553)	(20,792)
Other long-term liabilities	(195,166)	(215,320)
Total	(214,719)	(236,112)
Amounts recognized in Accumulated Other Comprehensive Income (Loss), net of tax:
Actuarial net (loss) gain	17,967	8,313
Net prior service credit (cost)	(812)	(1,174)
Net amounts recognized in AOCI	$ 17,155	$ 7,139

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - SCHEDULE OF ACCUMULATED BENEFIT OBLIGATIONS IN EXCESS OF PLAN ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Retirement Benefits [Abstract]
Projected benefit obligation	$ 1,030,382	$ 711,767
Accumulated benefit obligation	993,892	675,660
Fair value of plan assets	$ 962,705	$ 665,441

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - SCHEDULE OF COMPONENTS OF NET PERIODIC BENEFIT COST (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Pension Benefits
Amounts recognized in net periodic benefit cost
Service cost	$ 21,223	$ 20,657	$ 23,075
Interest cost	31,943	40,996	41,875
Expected return on plan assets	(58,612)	(57,370)	(58,820)
Amortization of prior service (credit) cost	(7,202)	(5,822)	(1,555)
Amortization of net loss (gain)	26,875	33,648	34,940
Curtailment credit	(299)	0	0
Settlement loss	20,211	17,732	22,657
Total net periodic benefit cost	34,139	49,841	62,172
Change in plan assets and benefit obligations recognized in AOCI, pre-tax
Actuarial net (gain) loss	3,715	(73,768)	(31,772)
Prior service (credit) cost	7,198	(2,650)	(41,517)
Total recognized in other comprehensive (income) loss, pre-tax	10,913	(76,418)	(73,289)
Net amounts recognized in periodic benefit cost and AOCI	45,052	(26,577)	(11,117)
Other Benefits
Amounts recognized in net periodic benefit cost
Service cost	230	263	299
Interest cost	6,923	8,837	9,731
Expected return on plan assets	0	0	0
Amortization of prior service (credit) cost	836	748	575
Amortization of net loss (gain)	0	(1)	(13)
Curtailment credit	0	0	0
Settlement loss	0	0	0
Total net periodic benefit cost	7,989	9,847	10,592
Change in plan assets and benefit obligations recognized in AOCI, pre-tax
Actuarial net (gain) loss	(10,771)	2,139	(3,047)
Prior service (credit) cost	(838)	(744)	(572)
Total recognized in other comprehensive (income) loss, pre-tax	(11,609)	1,395	(3,619)
Net amounts recognized in periodic benefit cost and AOCI	$ (3,620)	$ 11,242	$ 6,973

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - SCHEDULE OF AMOUNTS EXPECTED TO BE AMORTIZED FROM AOCI INTO NET PERIODIC BENEFIT (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Amortization of net actuarial loss	$ 33,695
Amortization of prior service (credit) cost	(7,235)
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Amortization of net actuarial loss	811
Amortization of prior service (credit) cost	$ (384)

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - SCHEDULE OF WEIGHTED AVERAGE ASSUMPTIONS USED IN COMPUTING BENEFIT OBLIGATIONS (Details)	Dec. 31, 2018	Dec. 31, 2017
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.10%	3.40%
Rate of increase in compensation levels	3.60%	3.80%
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.20%	3.50%

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - SCHEDULE OF WEIGHTED AVERAGE ASSUMPTIONS USED IN COMPUTING NET PERIODIC BENEFIT COST (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.40%	3.80%	4.00%
Expected long-term return on plan assets	5.80%	5.80%	6.10%
Rate of compensation increase	3.80%	3.80%	3.80%
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.50%	3.80%	4.00%

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - SCHEDULE OF EFFECT OF ONE PERCENT CHANGE IN ASSUMED HEALTH CARE TREND RATES (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($)
Retirement Benefits [Abstract]
Effect on total service and interest cost components, one percentage point increase	$ 94
Effect on post-retirement benefit obligation, one percentage point increase	3,213
Effect on total service and interest cost components, one percentage point decrease	(82)
Effect on post-retirement benefit obligation, one percentage point decrease	$ (2,833)

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - SCHEDULE OF PLAN ASSETS ACROSS ASSET CLASSES (Details) - Domestic Plans	Dec. 31, 2018
Cash
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	1.00%
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	25.00%
Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	49.00%
Alternative investments, including real estate, listed infrastructure and other
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	25.00%

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - SCHEDULE OF EXPECTED BENEFIT PAYMENTS TO BE PAID (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
2019	$ 113,395
2020	95,461
2021	92,790
2022	115,509
2023	92,411
2024-2028	396,875
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
2019	19,582
2020	18,573
2021	17,407
2022	16,595
2023	15,841
2024-2028	$ 68,234

STOCK COMPENSATION PLANS - STOCK COMPENSATION PLANS NARRATIVE (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares authorized (shares)	65,800,000
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized	$ 56,547
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition	2 years 1 month 6 days
Intrinsic value of share-based liabilities paid, combined with the fair value of shares vested (in millions of dollars)	$ 28,752	$ 29,981	$ 22,062
Deferred performance stock units, deferred restricted stock units, and directors' fees and accumulated dividend amounts representing deferred stock units outstanding	303,855
Employee stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition	2 years 4 months 24 days
Share-based compensation arrangement by share-based payment award, expiration period	10 years
Share-based compensation arrangement by share-based payment award, award vesting period	4 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 15.58	$ 15.76	$ 11.46
Intrinsic value of options exercised (in millions of dollars)	$ 38,382	$ 45,998	$ 73,944
Employee service share-based compensation, nonvested awards, compensation not yet recognized, stock options	$ 13,902
Performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition	3 years
Share-based compensation arrangement by share-based payment award, award vesting period	3 years
Performance shares \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation arrangement, by share based payment award, equity instruments other than options, performance score, percentage	0.00%
Performance shares \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation arrangement, by share based payment award, equity instruments other than options, performance score, percentage	250.00%
Performance stock units and restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, conversion basis (shares)	1

STOCK COMPENSATION PLANS - SCHEDULE OF COMPENSATION EXPENSE AND INCOME TAX BENEFITS FOR STOCK-BASED COMPENSATION PROGRAMS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Pre-tax compensation expense	$ 49,286	$ 51,061	$ 54,785
Related income tax benefit	$ 9,463	$ 13,684	$ 17,148

STOCK COMPENSATION PLANS - SCHEDULE OF STOCK OPTION ACTIVITY (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 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)	945,220
Exercised (shares)	(1,110,712)
Forfeited (shares)	(361,188)
Outstanding as of December 31, 2018 (shares)	5,394,382	5,921,062
Options exercisable as of December 31, 2018 (shares)	3,506,304
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)	99.93
Exercises (USD per share)	68.69
Forfeited (USD per share)	102.20
Outstanding (USD per share)	94.28	$ 89.06
Options exercisable (USD per share)	$ 90.77
Options outstanding, weighted-average remaining contractual term	5 years 7 months 6 days	5 years 9 months 18 days
Options exercisable, weighted aver remaining contractual term	4 years 1 month 6 days
Aggregate intrinsic value of options outstanding	$ 70,398
Aggregate intrinsic value of options exercisable	$ 57,789

STOCK COMPENSATION PLANS - SCHEDULE OF FAIR VALUE WEIGHTED-AVERAGE ASSUMPTIONS (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Dividend yields	2.40%	2.40%	2.40%
Expected volatility	16.60%	17.20%	16.80%
Risk-free interest rates	2.80%	2.20%	1.50%
Expected term in years	6 years 7 months 6 days	6 years 9 months 18 days	6 years 9 months 18 days

STOCK COMPENSATION PLANS - SCHEDULE OF STOCK OPTION INFORMATION BY EXERCISE PRICE RANGE (Details)	12 Months Ended
	Dec. 31, 2018 $ / shares shares
$33.40 - $90.39
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 33.40
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 90.39
Number Outstanding as of 12/31/18 (shares) \| shares	2,079,250
Weighted- Average Remaining Contractual Life in Years	4 years 2 months 12 days
Weighted- Average Exercise Price (USD per share)	$ 77.54
Number Exercisable as of 12/31/18 (shares) \| shares	1,704,705
Weighted- Average Exercise Price (USD per share)	$ 74.72
$90.40 - $105.91
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	90.40
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 105.91
Number Outstanding as of 12/31/18 (shares) \| shares	1,676,763
Weighted- Average Remaining Contractual Life in Years	7 years
Weighted- Average Exercise Price (USD per share)	$ 102.54
Number Exercisable as of 12/31/18 (shares) \| shares	711,683
Weighted- Average Exercise Price (USD per share)	$ 105.12
$105.92 - $111.76
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	105.92
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 111.76
Number Outstanding as of 12/31/18 (shares) \| shares	1,638,369
Weighted- Average Remaining Contractual Life in Years	5 years 9 months 18 days
Weighted- Average Exercise Price (USD per share)	$ 107.06
Number Exercisable as of 12/31/18 (shares) \| shares	1,089,916
Weighted- Average Exercise Price (USD per share)	$ 106.52
$33.40 - $111.76
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	33.40
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 111.76
Number Outstanding as of 12/31/18 (shares) \| shares	5,394,382
Weighted- Average Remaining Contractual Life in Years	5 years 7 months 6 days
Weighted- Average Exercise Price (USD per share)	$ 94.28
Number Exercisable as of 12/31/18 (shares) \| shares	3,506,304
Weighted- Average Exercise Price (USD per share)	$ 90.77

STOCK COMPENSATION PLANS - SCHEDULE OF PSUs AND RSUs ACTIVITY (Details) - Performance and restricted stock units - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
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)	457,315	478,044	545,750
Performance assumption change (shares)	16,961
Vested (shares)	(287,101)
Forfeited (shares)	(111,521)
Outstanding at end of year (shares)	999,018	923,364
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)	97.86	$ 110.97	$ 93.55
Performance assumption change	102.71
Vested (USD per share)	103.59
Forfeited (USD per share)	103.48
Outstanding at end of year (USD per share)	$ 101.57	$ 103.11

STOCK COMPENSATION PLANS - SCHEDULE OF PSUs AND RSUS FAIR VALUE WEIGHTED-AVERAGE ASSUMPTIONS (Details) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yields	2.40%	2.40%	2.40%
Performance and restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (shares)	457,315	478,044	545,750
Weighted-average fair value at date of grant (USD per share)	$ 97.86	$ 110.97	$ 93.55
Estimated values (USD per share)	$ 29.17	$ 46.85	$ 38.02
Dividend yields	2.60%	2.30%	2.50%
Expected volatility	20.40%	20.40%	17.00%

- SEGMENT INFORMATION NARRATIVE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
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		$ (98,884)	$ (91,026)	$ (8,515)
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	$ (409)
Cost of Sales \| Commodities futures and options
Revenue, Major Customer [Line Items]
Derivative, Gain (Loss) on Derivative, Net		$ (40,318)

- SCHEDULE OF NET SALES AND EARNINGS BY SEGMENT (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jul. 01, 2018	Apr. 01, 2018	Dec. 31, 2017	Oct. 01, 2017	Jul. 02, 2017	Apr. 02, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Net sales	$ 1,987,902	$ 2,079,593	$ 1,751,615	$ 1,971,959	$ 1,939,636	$ 2,033,121	$ 1,662,991	$ 1,879,678	$ 7,791,069	$ 7,515,426	$ 7,440,181
Operating Income (Loss)									1,623,664	1,313,409	1,255,173
Costs associated with business realignment activities									51,827	69,359	93,902
Interest expense, net									138,837	98,282	90,143
Other (income) expense, net									74,766	104,459	65,549
Income before income taxes									1,410,061	1,110,668	1,099,481
Operating Segments
Segment Reporting Information [Line Items]
Operating Income (Loss)									2,093,844	2,055,750	2,011,315
Operating Segments \| North America
Segment Reporting Information [Line Items]
Net sales									6,901,607	6,621,173	6,532,988
Operating Income (Loss)									2,020,082	2,044,218	2,040,454
Operating Segments \| International and Other
Segment Reporting Information [Line Items]
Net sales									889,462	894,253	907,193
Operating Income (Loss)									73,762	11,532	(29,139)
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Operating Income (Loss)									486,716	499,251	488,318
Segment Reconciling Items
Segment Reporting Information [Line Items]
Derivative, Gain (Loss) on Derivative, Net									(168,263)	(35,292)	163,238
Goodwill and long-lived asset impairment charges									57,729	208,712	4,204
Costs associated with business realignment activities									51,827	69,359	93,902
Acquisition-related costs									44,829	311	6,480
Gain (loss) on disposition of intangible assets									$ (2,658)	$ 0	$ 0

SEGMENT INFORMATION - SCHEDULE OF UNALLOCATED MARK-TO-MARKET (GAINS) LOSSES ON COMMODITY DERIVATIVES (Details) - Commodities futures and options - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reconciling Items
Segment Reporting Information [Line Items]
Net Mark to Market Valuation of Certain Derivative Positions Recognized in Unallocated Derivative Gains Losses	$ (168,263)	$ (35,292)	$ 163,238
Operating Segments
Segment Reporting Information [Line Items]
Net Gain Loss On Commodity Derivative Positions Reclassified From Unallocated Derivative Gains Losses To Segment Income	(98,884)	(91,026)	(8,515)
Non-designated Hedges
Segment Reporting Information [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ (69,379)	$ (55,734)	$ 171,753

- SCHEDULE OF DEPRECIATION AND AMORTIZATION EXPENSE INCLUDED WITHIN SEGMENT INCOME (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 295,144	$ 261,853	$ 301,837
Operating Segments \| North America
Segment Reporting Information [Line Items]
Depreciation and amortization	205,340	171,265	162,211
Operating Segments \| International and Other
Segment Reporting Information [Line Items]
Depreciation and amortization	35,656	42,542	50,753
Corporate, Non-Segment \| Corporate (1)
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 54,148	$ 48,046	$ 88,873

- SCHEDULE OF SEGMENT INFORMATION BY GEOGRAPHY (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jul. 01, 2018	Apr. 01, 2018	Dec. 31, 2017	Oct. 01, 2017	Jul. 02, 2017	Apr. 02, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 1,987,902	$ 2,079,593	$ 1,751,615	$ 1,971,959	$ 1,939,636	$ 2,033,121	$ 1,662,991	$ 1,879,678	$ 7,791,069	$ 7,515,426	$ 7,440,181
Long-lived assets	2,130,294				2,106,697				2,130,294	2,106,697	2,177,248
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales									6,535,675	6,263,703	6,196,723
Long-lived assets	1,668,186				1,575,496				1,668,186	1,575,496	1,528,255
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales									1,255,394	1,251,723	1,243,458
Long-lived assets	$ 462,108				$ 531,201				$ 462,108	$ 531,201	$ 648,993

SEGMENT INFORMATION - SCHEDULE OF ADDITIONAL PRODUCT LINE SALES (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jul. 01, 2018	Apr. 01, 2018	Dec. 31, 2017	Oct. 01, 2017	Jul. 02, 2017	Apr. 02, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Net sales	$ 1,987,902	$ 2,079,593	$ 1,751,615	$ 1,971,959	$ 1,939,636	$ 2,033,121	$ 1,662,991	$ 1,879,678	$ 7,791,069	$ 7,515,426	$ 7,440,181
Confectionery and confectionery-based portfolio
Segment Reporting Information [Line Items]
Net sales									7,453,364
Snacks portfolio
Segment Reporting Information [Line Items]
Net sales									$ 337,705

EQUITY AND NONCONTROLLING INTEREST - EQUITY AND NONCONTROLLING INTEREST NARRATIVE (Details)	1 Months Ended	3 Months Ended	12 Months Ended
	Aug. 31, 2017 USD ($) $ / shares shares	Dec. 31, 2018 USD ($) $ / shares shares	Dec. 31, 2018 vote $ / shares shares	Dec. 31, 2017 shares	Dec. 31, 2016 shares
Class of Stock [Line Items]
Common and preferred shares authorized (shares)		1,055,000,000	1,055,000,000
Preferred stock, shares authorized (shares)		5,000,000	5,000,000
Common stock, shares, outstanding (shares)		209,728,904	209,728,904	210,860,817	212,259,735
Preferred Stock, Par or Stated Value Per Share \| $ / shares		$ 1	$ 1
Noncontrolling Interests in Subsidiaries \| Lotte Shanghai Food Company
Class of Stock [Line Items]
Noncontrolling interest, ownership percentage by parent		50.00%	50.00%
Common stock
Class of Stock [Line Items]
Common stock, shares authorized (shares)		900,000,000	900,000,000
Common stock, par (USD per share) \| $ / shares		$ 1	$ 1
Common stock, voting rights (vote) \| vote			1
Dividends, common sock, cash, additional percentage over Class B common stock dividends			10.00%
Treasury Stock, Shares, Acquired			1,406,093	0	4,640,964
Common Stock Voting Rights, Board Election Percentage			16.66%
Common stock \| Hershey Trust Company
Class of Stock [Line Items]
Common stock, shares, outstanding (shares)		3,903,121	3,903,121
Class B common stock
Class of Stock [Line Items]
Common stock, shares authorized (shares)		150,000,000	150,000,000
Common stock, voting rights (vote) \| vote			10
Conversion of stock			6,000	0	0
Class B common stock \| Hershey Trust Company
Class of Stock [Line Items]
Common stock, shares, outstanding (shares)		60,612,012	60,612,012
Common stock, voting percentage			80.00%
Hershey Trust Company
Class of Stock [Line Items]
Treasury Stock, Shares, Acquired	1,500,000	450,000
Treasury Stock Acquired, Average Cost Per Share \| $ / shares	$ 106.01	$ 106.30
Stock Repurchased During Period, Value \| $	$ 159,015,000	$ 47,835,000

EQUITY AND NONCONTROLLING INTEREST - SCHEDULE OF THE CHANGES IN THE OUTSTANDING SHARES OF COMMMON STOCK (Details) - shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Common stock, shares issued (shares)	359,901,744	359,901,744	359,901,744
Treasury stock, shares, beginning of the period (shares)	(149,040,927)	(147,642,009)	(143,124,384)
Stock issuances:
Treasury stock, shares, end of the period (shares)	(150,172,840)	(149,040,927)	(147,642,009)
Common stock, shares, outstanding (shares)	209,728,904	210,860,817	212,259,735
Employee stock options
Stock repurchases:
Treasury Stock, Shares, Acquired	615,719	1,278,675	1,820,766
Stock issuances:
Stock issued during period, shares, share-based compensation (gross)	1,339,899	1,379,757	1,944,105
Common stock
Class of Stock [Line Items]
Common stock, shares issued (shares)	299,287,967	299,281,967
Stock repurchases:
Treasury Stock, Shares, Acquired	1,406,093	0	4,640,964
Hershey Trust Company
Stock repurchases:
Treasury Stock, Shares, Acquired	450,000	1,500,000	0

EQUITY AND NONCONTROLLING INTEREST - SCHEDULE OF ACTIVITY RELATING TO THE NONCONTROLLING INTEREST (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance, December 31, 2017	$ 16,227
Net income (loss) attributable to noncontrolling interests	(6,511)	$ (26,444)	$ 0
Balance, December 31, 2018	8,545	16,227
Noncontrolling Interests in Subsidiaries
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance, December 31, 2017	16,227
Net income (loss) attributable to noncontrolling interests	(6,511)
Other comprehensive loss - foreign currency translation adjustments	(1,171)
Balance, December 31, 2018	$ 8,545	$ 16,227

COMMITMENTS AND CONTINGENCIES - SCHEDULE OF PURCHASE OBLIGATIONS COVERED BY PUTCHASE AGREEMENTS WITH VARIOUS SUPPLIERS FUTURE MATURTY SCHEDULE (Details) - Inventories $ in Millions	Dec. 31, 2018 USD ($)
Unrecorded Unconditional Purchase Obligation, Fiscal Year Maturity [Abstract]
2019	$ 1,495.9
2020	870.9
2021	7.5
2022	0.7
2023	$ 0.0

COMMITMENTS AND CONTINGENCIES - SCHEDULE OF OPERATING AND CAPITAL LEASE OBLIGATIONS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Operating Leases, Future Minimum Payments Due, Next Twelve Months	$ 38,041
Operating Leases, Future Minimum Payments, Due in Two Years	24,047
Operating Leases, Future Minimum Payments, Due in Three Years	16,883
Operating Leases, Future Minimum Payments, Due in Four Years	15,424
Operating Leases, Future Minimum Payments, Due in Five Years	13,494
Operating Leases, Future Minimum Payments, Due Thereafter	185,608
Capital Leases, Future Minimum Payments Due, Next Twelve Months	6,980
Capital Leases, Future Minimum Payments Due in Two Years	5,272
Capital Leases, Future Minimum Payments Due in Three Years	3,901
Capital Leases, Future Minimum Payments Due in Four Years	4,399
Capital Leases, Future Minimum Payments Due in Five Years	4,577
Capital Leases, Future Minimum Payments Due Thereafter	169,686
Operating Leases, Rent Expense	$ 34,157	$ 25,525	$ 20,330

COMMITMENTS AND CONTINGENCIES - COMMITMENTS AND CONTINGENCIES NARRATIVE (Details) - employee	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Concentration Risk [Line Items]
Entity number of employees		14,930
Entity number of part-time employees		1,490
Workforce Subject to Collective Bargaining Arrangements
Concentration Risk [Line Items]
Entity number of employees		5,780
Percentage of employees		35.00%
Workforce Subject to Collective Bargaining Arrangements \| Scenario, Forecast
Concentration Risk [Line Items]
Percentage of employees	67.00%

- SCHEDULE OF BASIC AND DILUTED EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jul. 01, 2018	Apr. 01, 2018	Dec. 31, 2017	Oct. 01, 2017	Jul. 02, 2017	Apr. 02, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Common stock
Basic earnings per share:
Allocation of distributed earnings (cash dividends paid)									$ 410,732	$ 385,878	$ 367,081
Allocation of undistributed earnings									449,372	188,286	162,299
Total earnings—basic									$ 860,104	$ 574,164	$ 529,380
Total weighted-average shares—basic (shares)									149,379	151,625	153,519
Earnings Per Share—basic (USD per share)	$ 1.65	$ 1.29	$ 1.11	$ 1.71	$ 0.88	$ 1.32	$ 0.98	$ 0.60	$ 5.76	$ 3.79	$ 3.45
Diluted earnings per share:
Allocation of total earnings used in basic computation									$ 860,104	$ 574,164	$ 529,380
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock									317,458	208,817	190,664
Reallocation of undistributed earnings									0	0	0
Total earnings—diluted									$ 1,177,562	$ 782,981	$ 720,044
Conversion of Class B common stock to Common shares outstanding									60,614	60,620	60,620
Total weighted-average shares—diluted (shares)									210,989	213,742	215,304
Earnings Per Share—diluted (USD per share)	1.60	1.25	1.08	1.65	0.85	1.28	0.95	0.58	$ 5.58	$ 3.66	$ 3.34
Common stock \| Employee stock options
Diluted earnings per share:
Incremental common shares attributable to dilutive effect of share-based payment arrangements									651	1,144	964
Common stock \| Performance and restricted stock units
Diluted earnings per share:
Incremental common shares attributable to dilutive effect of share-based payment arrangements									345	353	201
Class B common stock
Basic earnings per share:
Allocation of distributed earnings (cash dividends paid)									$ 151,789	$ 140,394	$ 132,394
Allocation of undistributed earnings									165,669	68,423	58,270
Total earnings—basic									$ 317,458	$ 208,817	$ 190,664
Total weighted-average shares—basic (shares)									60,614	60,620	60,620
Earnings Per Share—basic (USD per share)	1.50	1.17	1.01	1.55	0.80	1.20	0.89	0.55	$ 5.24	$ 3.44	$ 3.15
Diluted earnings per share:
Allocation of total earnings used in basic computation									$ 317,458	$ 208,817	$ 190,664
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock									0	0	0
Reallocation of undistributed earnings									(803)	(492)	(324)
Total earnings—diluted									$ 316,655	$ 208,325	$ 190,340
Conversion of Class B common stock to Common shares outstanding									0	0	0
Total weighted-average shares—diluted (shares)									60,614	60,620	60,620
Earnings Per Share—diluted (USD per share)	$ 1.49	$ 1.17	$ 1.01	$ 1.55	$ 0.80	$ 1.20	$ 0.89	$ 0.55	$ 5.22	$ 3.44	$ 3.14
Class B common stock \| Employee stock options
Diluted earnings per share:
Incremental common shares attributable to dilutive effect of share-based payment arrangements									0	0	0
Class B common stock \| Performance and restricted stock units
Diluted earnings per share:
Incremental common shares attributable to dilutive effect of share-based payment arrangements									0	0	0

OTHER (INCOME) EXPENSE, NET - SCHEDULE OF OTHER (INCOME) AND EXPENSE, NET (Details) - USD ($) $ in Thousands		12 Months Ended
	Feb. 03, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Write-down of equity investments in partnerships qualifying for tax credits		$ 50,329	$ 66,209	$ 43,482
Defined Benefit Plan, Non-Service Cost		20,672	38,768	49,390
Gain on settlement of SGM liability (see Note 2)		0	0	26,650
Other (income) expense, net		3,765	(518)	(673)
Total		74,766	104,459	65,549
Shanghai Golden Monkey Food Joint Stock Co., Ltd.
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Gain on settlement of SGM liability (see Note 2)	$ 26,650	$ 0	$ 0	$ 26,650

- SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Inventory, Net [Abstract]
Raw materials	$ 237,086	$ 224,940
Goods in process	107,139	93,627
Finished goods	618,798	614,945
Inventories at FIFO	963,023	933,512
Adjustment to LIFO	(178,144)	(180,676)
Total inventories	784,879	752,836
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid Expense	68,490	128,735
Disposal Group, Including Discontinued Operation, Assets	23,421	21,124
Other Assets, Current	180,248	130,774
Prepaid Expenses and Other	272,159	280,633
Property, Plant and Equipment [Abstract]
Land	102,074	108,300
Buildings	1,211,011	1,214,158
Machinery and equipment	2,988,027	2,925,353
Construction in progress	280,559	212,912
Property, plant and equipment, gross	4,581,671	4,460,723
Accumulated depreciation	(2,451,377)	(2,354,026)
Property, plant and equipment, net	2,130,294	2,106,697	$ 2,177,248
Other Assets, Noncurrent [Abstract]
Capitalized software, net	126,379	104,881
Other non-current assets	126,605	146,998
Total other assets	252,984	251,879
Accrued Liabilities, Current [Abstract]
Payroll, compensation and benefits	180,546	190,863
Advertising, promotion and product allowances	293,642	305,107
Disposal Group, Including Discontinued Operation, Liabilities	596	0
Other	204,379	180,164
Total accrued liabilities	679,163	676,134
Other Liabilities, Noncurrent [Abstract]
Post-retirement benefits liabilities	195,166	215,320
Pension benefits liabilities	66,379	39,410
Other	184,503	184,209
Total other long-term liabilities	446,048	438,939
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Foreign currency translation adjustments	(96,678)	(91,837)
Pension and post-retirement benefit plans, net of tax	(205,230)	(169,526)
Cash flow hedges, net of tax	(54,872)	(52,383)
Total accumulated other comprehensive loss	$ (356,780)	$ (313,746)

- SCHEDULE OF QUARTERLY FINANCIAL INFORMATION (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jul. 01, 2018	Apr. 01, 2018	Dec. 31, 2017	Oct. 01, 2017	Jul. 02, 2017	Apr. 02, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net sales	$ 1,987,902	$ 2,079,593	$ 1,751,615	$ 1,971,959	$ 1,939,636	$ 2,033,121	$ 1,662,991	$ 1,879,678	$ 7,791,069	$ 7,515,426	$ 7,440,181
Gross profit	944,352	863,493	793,420	974,060	837,241	942,936	765,847	909,352	3,575,325	3,455,376	3,169,539
Net income attributable to The Hershey Company	$ 336,791	$ 263,713	$ 226,855	$ 350,203	$ 181,133	$ 273,303	$ 203,501	$ 125,044	$ 1,177,562	$ 782,981	$ 720,044
Maximum
Market price of common stock throughout the quarter (USD per share)	$ 110.01	$ 106.60	$ 100.60	$ 114.06	$ 115.45	$ 110.50	$ 115.96	$ 109.61	$ 110.01	$ 115.45
Minimum
Market price of common stock throughout the quarter (USD per share)	101.64	91.04	89.54	96.06	102.87	104.06	106.41	103.45	101.64	102.87
Common stock
Net income per share - basic (USD per share)	1.65	1.29	1.11	1.71	0.88	1.32	0.98	0.60	5.76	3.79	$ 3.45
Net income per share - diluted (USD per share)	1.60	1.25	1.08	1.65	0.85	1.28	0.95	0.58	5.58	3.66	3.34
Dividends paid per share (USD per share)	0.722	0.722	0.656	0.656	0.656	0.656	0.618	0.618	2.756	2.548	2.402
Class B common stock
Net income per share - basic (USD per share)	1.50	1.17	1.01	1.55	0.80	1.20	0.89	0.55	5.24	3.44	3.15
Net income per share - diluted (USD per share)	1.49	1.17	1.01	1.55	0.80	1.20	0.89	0.55	5.22	3.44	3.14
Dividends paid per share (USD per share)	$ 0.656	$ 0.656	$ 0.596	$ 0.596	$ 0.596	$ 0.596	$ 0.562	$ 0.562	$ 2.504	$ 2.316	$ 2.184

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	$ 373,288	$ 295,681	$ 262,325
Charged to Costs and Expenses	273,611	294,798	232,797
Charged to Other Accounts	0	0	0
Deductions from Reserves	362,194	217,191	199,441
Balance at End of Period	284,705	373,288	295,681
Allowance for Trade Receivables
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	41,792	40,153	32,638
Charged to Costs and Expenses	222,819	166,993	174,314
Charged to Other Accounts	0	0	0
Deductions from Reserves	240,001	165,354	166,799
Balance at End of Period	24,610	41,792	40,153
Valuation Allowance of Net Deferred Taxes
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	312,148	235,485	207,055
Charged to Costs and Expenses	18,413	92,139	28,430
Charged to Other Accounts	0	0	0
Deductions from Reserves	90,602	15,476	0
Balance at End of Period	239,959	312,148	235,485
Inventory Obsolescence Reserve
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	19,348	20,043	22,632
Charged to Costs and Expenses	32,379	35,666	30,053
Charged to Other Accounts	0	0	0
Deductions from Reserves	31,591	36,361	32,642
Balance at End of Period	$ 20,136	$ 19,348	$ 20,043

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Details)	12 Months Ended
	Dec. 31, 2018 country segment brand_name
Accounting Policies [Abstract]
Number of brand names \| brand_name	80
Number of countries in which products are marketed, sold and distributed (country) \| country	90
Number of reportable segments (segment) \| segment	2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - INVENTORIES (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Percentage of LIFO inventory	60.00%
LIFO inventory amount	$ 466,911	$ 443,492

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS - SCHEDULE OF PENSION PLAN ASSETS WITHIN THE FAIR VALUE HIERARCHY (Details) - Pension Benefits - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	$ 963,861	$ 1,086,226	$ 1,023,676
Fair Value, Measurements, Recurring
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	963,861	1,086,226
Defined Benefit Plan, Plan Assets Measured at Net Asset Value	944,964	993,517
Fair Value, Measurements, Recurring \| Quoted prices in active markets of identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	1,040	1,179
Fair Value, Measurements, Recurring \| Significant other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	17,857	91,530
Fair Value, Measurements, Recurring \| Significant other unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	19,561	20,070
Defined Benefit Plan, Plan Assets Measured at Net Asset Value	664	730
Fair Value, Measurements, Recurring \| Cash and cash equivalents \| Quoted prices in active markets of identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	1,040	1,179
Fair Value, Measurements, Recurring \| Cash and cash equivalents \| Significant other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	17,857	18,161
Fair Value, Measurements, Recurring \| Cash and cash equivalents \| Significant other unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring \| Global all-cap
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	210,850	276,825
Defined Benefit Plan, Plan Assets Measured at Net Asset Value	210,850	276,825
Fair Value, Measurements, Recurring \| Global all-cap \| Quoted prices in active markets of identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring \| Global all-cap \| Significant other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring \| Global all-cap \| Significant other unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring \| U.S. government/agency
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	242,618	239,686
Defined Benefit Plan, Plan Assets Measured at Net Asset Value	242,618	239,686
Fair Value, Measurements, Recurring \| U.S. government/agency \| Quoted prices in active markets of identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring \| U.S. government/agency \| Significant other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring \| U.S. government/agency \| Significant other unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring \| Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	117,656	195,652
Defined Benefit Plan, Plan Assets Measured at Net Asset Value	117,656	162,633
Fair Value, Measurements, Recurring \| Corporate bonds \| Quoted prices in active markets of identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring \| Corporate bonds \| Significant other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	33,019
Fair Value, Measurements, Recurring \| Corporate bonds \| Significant other unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring \| Collateralized obligations
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		74,888
Defined Benefit Plan, Plan Assets Measured at Net Asset Value		34,538
Fair Value, Measurements, Recurring \| Collateralized obligations \| Quoted prices in active markets of identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		0
Fair Value, Measurements, Recurring \| Collateralized obligations \| Significant other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		40,350
Fair Value, Measurements, Recurring \| Collateralized obligations \| Significant other unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		0
Fair Value, Measurements, Recurring \| International government/corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	29,115	32,447
Defined Benefit Plan, Plan Assets Measured at Net Asset Value	29,115	32,447
Fair Value, Measurements, Recurring \| International government/corporate bonds \| Quoted prices in active markets of identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring \| International government/corporate bonds \| Significant other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring \| International government/corporate bonds \| Significant other unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring \| Diversified credit
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	94,008
Defined Benefit Plan, Plan Assets Measured at Net Asset Value	94,008
Fair Value, Measurements, Recurring \| Diversified credit \| Quoted prices in active markets of identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0
Fair Value, Measurements, Recurring \| Diversified credit \| Significant other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0
Fair Value, Measurements, Recurring \| Diversified credit \| Significant other unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0
Fair Value, Measurements, Recurring \| Global diversified assets
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	147,661	149,030
Defined Benefit Plan, Plan Assets Measured at Net Asset Value	147,661	149,030
Fair Value, Measurements, Recurring \| Global diversified assets \| Quoted prices in active markets of identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring \| Global diversified assets \| Significant other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring \| Global diversified assets \| Significant other unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring \| Global real estate investment trusts
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	57,854	50,213
Defined Benefit Plan, Plan Assets Measured at Net Asset Value	57,854	50,213
Fair Value, Measurements, Recurring \| Global real estate investment trusts \| Quoted prices in active markets of identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring \| Global real estate investment trusts \| Significant other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring \| Global real estate investment trusts \| Significant other unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring \| Global infrastructure
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	44,538	47,415
Defined Benefit Plan, Plan Assets Measured at Net Asset Value	44,538	47,415
Fair Value, Measurements, Recurring \| Global infrastructure \| Quoted prices in active markets of identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring \| Global infrastructure \| Significant other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fair Value, Measurements, Recurring \| Global infrastructure \| Significant other unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	$ 0	$ 0