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Document and Entity Information - USD ($)	3 Months Ended
Document and Entity Information - USD ($)	Apr. 05, 2015	Apr. 24, 2015	Jun. 27, 2014
Document And Entity Information [Abstract]
Entity Registrant Name	HERSHEY CO
Entity Central Index Key	0000047111
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Apr. 05, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Public Float			$ 14,349,963,182
Common Class A
Entity Common Stock, Shares Outstanding		158,425,772
Common Class B
Entity Common Stock, Shares Outstanding		60,619,777

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Apr. 05, 2015	Mar. 30, 2014
Net Sales	$ 1,937,800	$ 1,871,813
Costs and Expenses
Cost of sales	1,036,957	1,000,323
Selling, marketing and administrative	504,170	464,959
Business realignment charges	2,667	2,925
Total costs and expenses	1,543,794	1,468,207
Income before Interest and Income Taxes	394,006	403,606
Interest expense, net	19,202	21,285
Income before Income Taxes	374,804	382,321
Provision for income taxes	130,067	129,826
Net Income	$ 244,737	$ 252,495
Common Stock
Earnings Per Share
Earnings Per Share - Basic	$ 1.14	$ 1.16
Earnings Per Share - Diluted	1.10	1.11
Cash Dividends Paid Per Share
Common Stock	0.535	0.485
Common Class B
Earnings Per Share
Earnings Per Share - Basic	1.04	1.04
Earnings Per Share - Diluted	1.03	1.03
Cash Dividends Paid Per Share
Common Stock	$ 0.486	$ 0.435

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Apr. 05, 2015	Mar. 30, 2014
Net Income	$ 244,737	$ 252,495
Other comprehensive (Loss) Income, Net of Tax:
Foreign currency translation adjustments	(27,718)	(468)
Pension and post-retirement benefit plans	5,461	3,560
Cash flow hedges:
(Losses) gains on cash flow hedging derivatives	(26,092)	20,439
Reclassification adjustments	(399)	(9,239)
Total Other Comprehensive (Loss) Income, Net of Tax	(48,748)	14,292
Total comprehensive income	195,989	266,787
Comprehensive loss attributable to redeemable and noncontrolling interests	3,509	0
Comprehensive income attributable to The Hershey Company	$ 199,498	$ 266,787

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 05, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 305,690	$ 374,854
Short-term investments	99,483	97,131
Accounts receivable - trade, net	606,687	596,940
Inventories	745,761	801,036
Deferred income taxes	119,497	100,515
Prepaid expenses and other	230,981	276,571
Total current assets	2,108,099	2,247,047
Property, plant and equipment, net	2,149,215	2,151,901
Goodwill	933,771	792,955
Other Intangibles	407,756	294,841
Other Long-term Assets	158,621	142,772
Total assets	5,757,462	5,629,516
Liabilities
Accounts payable	449,149	482,017
Accrued liabilities	704,283	813,513
Accrued income taxes	121,811	4,616
Short-term debt	649,103	384,696
Current portion of long-term debt	250,784	250,805
Total current liabilities	2,175,130	1,935,647
Long-term Debt	1,560,265	1,548,963
Other Long-term Liabilities	541,058	526,003
Deferred Income Taxes	136,493	99,373
Total liabilities	4,412,946	4,109,986
Redeemable noncontrolling interest	28,618	0
Stockholders' Equity
Preferred stock, shares issued: none at April 5, 2015 and December 31, 2014, respectively	0	0
Common stock, shares issued: 299,281,967 and 299,281,967 at April 5, 2015 and December 31, 2014, respectively	299,281	299,281
Class B common stock, shares issued: 60,619,777 and 60,619,777 at April 5, 2015 and December 31, 2014, respectively	60,620	60,620
Additional paid-in capital	745,896	754,186
Retained earnings	5,991,140	5,860,784
Treasury – common stock shares, at cost: 140,790,665 and 138,856,786 at April 5, 2015 and December 31, 2014, respectively	(5,427,060)	(5,161,236)
Accumulated other comprehensive loss	(403,812)	(358,573)
The Hershey Company stockholders' equity	1,266,065	1,455,062
Noncontrolling interests in subsidiaries	49,833	64,468
Total stockholders' equity	1,315,898	1,519,530
Total liabilities and stockholders' equity	$ 5,757,462	$ 5,629,516

CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Apr. 05, 2015	Dec. 31, 2014
STOCKHOLDERS' EQUITY
Treasury - Common Stock, shares at cost	140,790,665	138,856,786
Preferred Stock
STOCKHOLDERS' EQUITY
Preferred Stock, shares issued	0	0
Common Stock
STOCKHOLDERS' EQUITY
Common Stock, shares issued	299,281,967	299,281,967
Common Class B
STOCKHOLDERS' EQUITY
Common Stock, shares issued	60,619,777	60,619,777

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Apr. 05, 2015	Mar. 30, 2014
Cash Flows Provided by Operating Activities
Net Income	$ 244,737	$ 252,495
Adjustments to Reconcile Net Income to Net Cash Flows
Depreciation and amortization	58,338	49,303
Stock-based compensation expense	13,889	12,955
Excess tax benefits from stock-based compensation	(17,066)	(38,962)
Deferred income taxes	(11,577)	(7,917)
Non-cash business realignment charges	4,934	0
Contributions to pension and other benefit plans	(5,307)	(6,691)
Changes in assets and liabilities, net of effects from business acquisitions
Accounts receivable - trade	(5,965)	(140,912)
Inventories	79,220	31,614
Accounts payable and accrued liabilities	(124,585)	(47,826)
Other assets and liabilities	19,784	99,698
Net Cash Flows Provided by Operating Activities	256,402	203,757
Cash Flows Used in Investing Activities
Capital additions	(57,781)	(73,521)
Capitalized software additions	(4,954)	(5,986)
Proceeds from sales of property, plant and equipment	214	436
Proceeds from sale of business	32,408	0
Business acquisitions, net of cash and cash equivalents acquired	(218,952)	10,035
Net Cash Flows Used in Investing Activities	(249,065)	(69,036)
Cash Flows Used in Financing Activities
Net increase in short-term debt	288,946	8,146
Long-term borrowings	944	78
Repayment of long-term debt	(328)	(393)
Cash dividends paid	(114,381)	(105,310)
Exercise of stock options	37,925	79,977
Excess tax benefits from stock-based compensation	17,066	38,962
Contributions from noncontrolling interests	0	2,940
Repurchase of common stock	(306,673)	(271,533)
Net Cash Flows Used in Financing Activities	(76,501)	(247,133)
Decrease in cash and cash equivalents	(69,164)	(112,412)
Cash and Cash Equivalents, beginning of period	374,854	1,118,508
Cash and Cash Equivalents, end of period	305,690	1,006,096
Interest Paid	27,745	29,054
Income Taxes Paid	$ 17,845	$ 16,054

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - 3 months ended Apr. 05, 2015 - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings	Treasury Common Stock	Accumulated Other Comprehensive Loss	Noncontrolling Interests in Subsidiaries	Total Stockholders' Equity	Common Class B Common Stock
Balance at Dec. 31, 2014	$ 1,519,530	$ 0	$ 299,281	$ 754,186	$ 5,860,784	$ (5,161,236)	$ (358,573)	$ 64,468	$ 1,519,530	$ 60,620
Net income	244,737				244,737				244,737
Other comprehensive loss	(48,748)						(45,239)	(1,175)	(46,414)
Common stock, $0.535 per share					(84,920)				(84,920)
Class B common stock, $0.486 per share					(29,461)				(29,461)
Stock-based compensation				13,076					13,076
Exercise of stock options and incentive-based transactions				298		40,849			41,147
Repurchase of common stock	(306,673)					(306,673)			(306,673)
Noncontrolling Interest, Change in Redemption Value	(21,664)			(21,664)
Reclassifications of Permanent to Temporary Equity	(13,428)							(13,428)	(35,092)
Net Income (Loss) Attributable to Noncontrolling Interest	(32)							(32)	(32)
Balance at Apr. 05, 2015	$ 1,315,898	$ 0	$ 299,281	$ 745,896	$ 5,991,140	$ (5,427,060)	$ (403,812)	$ 49,833	$ 1,315,898	$ 60,620

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Apr. 05, 2015	Mar. 30, 2014
Common Stock
Common Stock, Dividends, Per Share, Cash Paid	$ 0.535	$ 0.485
Common Class B
Common Stock, Dividends, Per Share, Cash Paid	$ 0.486	$ 0.435

SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
SIGNIFICANT ACCOUNTING POLICIES	Apr. 05, 2015
Significant Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The unaudited consolidated financial statements provided in this report include the accounts of The Hershey Company (the “Company,” “Hershey,” “we” or “us”) and our majority-owned subsidiaries and entities in which we have a controlling financial interest after the elimination of intercompany accounts and transactions. We have a controlling financial interest if we own a majority of the outstanding voting common stock and the noncontrolling shareholders do not have substantive participating rights, or we have significant control over an entity through contractual or economic interests in which we are the primary beneficiary. The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial reporting and with the rules and regulations for reporting on Form 10-Q. Accordingly, they do not contain certain information and disclosures required by GAAP for comprehensive financial statements. Our significant interim accounting policies include the recognition of a pro-rata share of certain estimated annual amounts primarily for raw material purchase price variances, advertising expense, incentive compensation expenses and the effective income tax rate. We have included all adjustments (consisting only of normal recurring accruals) that we believe are considered necessary for a fair presentation. Operating results for the quarter ended April 5, 2015 may not be indicative of the results that may be expected for the year ending December 31, 2015 because of seasonal effects on our business. These financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2014 (our “2014 Annual Report on Form 10-K”), which provides a more complete understanding of our accounting policies, financial position, operating results and other matters. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU No. 2014-09 will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for us on January 1, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. We are currently evaluating the effect that ASU No. 2014-09 will have on our consolidated financial statements and related disclosures. In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs. ASU No. 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This ASU is effective for fiscal years, and interim periods within those fiscal years beginning after December 15, 2015. Retrospective application is required and early adoption is permitted. The adoption of ASU No. 2015-03 is not expected to have a significant impact on our consolidated financial statements or 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 related disclosures.

BUSINESS ACQUISITIONS AND DIVESTITURES

3 Months Ended

Apr. 05, 2015

Business Combinations [Abstract]

BUSINESS ACQUISITIONS AND DIVESTITURES

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

2015 Acquisition

KRAVE Pure Foods

In March 2015, we completed the acquisition of all of the outstanding shares of KRAVE Pure Foods, Inc. (“Krave”), manufacturer of KRAVE jerky, a leading all-natural snack brand of premium jerky products. The transaction will allow Hershey to tap into the rapidly growing meat snacks category and further expand into the broader snacks space. Krave is headquartered in Sonoma, California and generated 2014 annual sales of approximately $35 million.

We paid cash consideration totaling $220,314, which remains subject to a working capital adjustment. We also agreed to pay additional cash consideration of up to $20,000 to the Krave shareholders if certain defined targets related to net sales and gross profit margin are met or exceeded during the twelve-month periods ending December 31, 2015 or March 31, 2016. The estimated fair value of the additional cash consideration of $16,800 was recorded in accrued liabilities in the Consolidated Balance Sheet at April 5, 2015.

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



Goodwill	$	147,334
Trademarks	112,000
Other intangible assets	17,000
Other assets, primarily current assets, net of cash acquired totaling $1,362	9,497
Current liabilities	(2,735		)
Non-current deferred tax liabilities	(47,344		)
Net assets acquired	$	235,752

The purchase price allocation presented above is preliminary. We are in the process of refining the valuations of acquired assets and liabilities and expect to finalize the purchase price allocation by the end of 2015.

Goodwill is calculated as the excess of the purchase price over the fair value of the net assets acquired. The goodwill resulting from the acquisition is attributable primarily to the value of leveraging our brand building expertise, consumer insights, supply chain capabilities and retail relationships to accelerate growth and access to KRAVE products. The recorded goodwill is not expected to be deductible for tax purposes.

Acquired trademarks were assigned estimated useful lives of 22 years, while other intangibles, including customer relationships and covenants not to compete, were assigned estimated useful lives ranging from 5 to 16 years.

Updates to 2014 Acquisitions

A more complete description of our acquisition activity for the year ended December 31, 2014 can be found in Note 2 to the Consolidated Financial Statements included in our 2014 Annual Report on Form 10-K.

Shanghai Golden Monkey Food Joint Stock Co., Ltd. (“SGM”)

At December 31, 2014, we had recorded a receivable of $37,860, reflecting our best estimate of the amount due from the selling SGM shareholders for the working capital and net debt adjustments. In addition, at December 31, 2014, we had recorded a liability of $100,067, reflecting the fair value of the future payment to be made to the SGM shareholders for the remaining 20% of the outstanding shares of SGM.

During the first quarter of 2015, we came to an agreement with the selling SGM shareholders to revise the aforementioned receivable and liability balances to reflect partial settlement of the receivable. As a result, the receivable was adjusted to $8,685 and the liability was adjusted to $76,815 at April 5, 2015. Such amounts are recorded in the Consolidated Balance Sheets within prepaid expenses and other and accrued liabilities, respectively. During the first quarter of 2015, goodwill was increased by $6,623 to recognize revisions to the estimated value of assets and liabilities acquired in the acquisition. We are continuing to refine the valuations of acquired assets and liabilities and expect to finalize the purchase price allocation in mid-2015. Most notably, we are conducting additional procedures to assess the valuation of working capital-related balances at the acquisition date.

The Allan Candy Company Limited (“Allan”)

During the first quarter of 2015, we increased goodwill by $1,588 to recognize revisions to the preliminary fair value of net assets acquired. We expect to finalize the purchase price allocation for Allan by mid-2015.

Pro forma results of operations have not been presented for these acquisitions, as the impact on our consolidated financial statements is not considered to be material.

2015 Divestiture

Mauna Loa Macadamia Nut Corporation (“Mauna Loa”)

In December 2014, we entered into an agreement to sell the Mauna Loa. The transaction closed in the first quarter of 2015, resulting in proceeds, net of selling expenses and an estimated working capital adjustment, of approximately $32,400. The sale of Mauna Loa resulted in the recording of an additional loss on sale of $2,667 in the first quarter of 2015, based on updates to the selling expenses and tax benefits.

Mauna Loa had historically been reported within our North America segment. Its operations were not material to our annual net sales, net income or earnings per share. Amounts classified as assets and liabilities held for sale at December 31, 2014 were presented within prepaid expenses and other assets and accrued liabilities, respectively, and included the following:



Assets held for sale
Inventories	$	21,489
Prepaid expenses and other	173
Property, plant and equipment, net	12,691
Other intangibles	12,705
	$	47,058
Liabilities held for sale
Accounts payable and accrued liabilities	$	3,726
Other long-term liabilities	9,029
	$	12,755

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

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+ Details

GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Apr. 05, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

The changes in the carrying value of goodwill by reportable segment for the quarter ended April 5, 2015 are as follows:



	North America			International and Other			Total
Balance at December 31, 2014	$	533,349		$	259,606		$	792,955
Acquired during the period	147,334			—			147,334
Purchase price allocation adjustments	1,588			6,623			8,211
Foreign currency translation	(8,830		)	(5,899		)	(14,729		)
Balance at April 5, 2015	$	673,441		$	260,330		$	933,771

The following table provides a summary of the major categories of intangible assets:



	April 5, 2015			December 31, 2014
Intangible assets not subject to amortization:
Trademarks	$	44,822		$	45,000
Intangible assets subject to amortization:
Trademarks, customer relationships, patents and other finite-lived intangibles	413,482			295,375
Less: accumulated amortization	(50,548		)	(45,534		)
Total other intangible assets	$	407,756		$	294,841

Total amortization expense for the quarters ended April 5, 2015 and March 30, 2014 was $5,014 and $2,505, respectively.

- Definition

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

+ References + Details

DEBT AND FINANCING ARRANGEMENTS

3 Months Ended

Apr. 05, 2015

Long-term Debt, Unclassified [Abstract]

DEBT AND FINANCING ARRANGEMENTS

As a source of short-term financing, we utilize cash on hand and commercial paper or bank loans with an original maturity of three months or less. We maintain a $1.0 billion unsecured revolving credit facility, which expires in November 2019. At April 5, 2015, we had outstanding commercial paper totaling $320,841, at a weighted average interest rate of 0.12%. At December 31, 2014, we had outstanding commercial paper totaling $54,995, at a weighted average interest rate of 0.09%.

The credit agreement contains certain financial and other covenants, customary representations, warranties and events of default. As of April 5, 2015, we were in compliance with all covenants pertaining to the credit agreement, and we had no significant compensating balance agreements that legally restricted these funds. For more information, refer to the Consolidated Financial Statements included in our 2014 Annual Report on Form 10-K.

In addition to the revolving credit facility, we maintain lines of credit with domestic and international commercial banks. We had short-term foreign bank loans against these lines of credit for $328,262 and $329,701 at April 5, 2015 and December 31, 2014, respectively.

Interest Expense

Net interest expense consisted of the following:



	Three Months Ended
	April 5, 2015			March 30, 2014
Interest expense	$	23,024		$	23,314
Interest income	(805		)	(946		)
Capitalized interest	(3,017		)	(1,083		)
Interest expense, net	$	19,202		$	21,285

FINANCIAL INSTRUMENTS AND FAIR VALUE

3 Months Ended

Apr. 05, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

FINANCIAL INSTRUMENTS AND FAIR VALUE

We are exposed to market risks arising principally from changes in foreign currency exchange rates, interest rates and commodity prices. We use certain derivative instruments to manage these risks. These include interest rate swaps to manage interest rate risk, foreign currency forward exchange contracts and options to manage foreign currency exchange rate risk, and commodities futures and options contracts to manage commodity market price risk exposures.

We also use derivatives that do not qualify for hedge accounting treatment. We account for such derivatives at market value with the resulting gains and losses reflected in the income statement. We do not hold or issue derivative instruments for trading or speculative purposes.

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 exchange-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. The majority of our commodity derivative instruments meet hedge accounting requirements and are designated as cash flow hedges. We account for the effective portion of mark-to-market gains and losses on commodity derivative instruments in other comprehensive income, to be recognized in cost of sales in the same period that we record the hedged raw material requirements in cost of sales. The ineffective portion of gains and losses is recorded currently in cost of sales.

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, Malaysian ringgit, Chinese renminbi, Japanese yen, Mexican peso and Brazilian real. We typically utilize foreign currency forward exchange contracts and options to hedge these exposures for periods ranging from 3 to 24 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 $16,584 at April 5, 2015 and $22,725 at December 31, 2014. 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 $35,035 at April 5, 2015 and $4,144 at December 31, 2014. 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

In order to manage interest rate exposure, from time to time we enter into interest rate swap agreements that effectively convert variable rate debt to a fixed interest rate. These swaps are designated as cash flow hedges, with gains and losses deferred in other comprehensive income to be recognized as an adjustment to interest expense in the same period that the hedged interest payments affect earnings. The notional amount of interest rate derivative instruments in cash flow hedging relationships was $750,000 at April 5, 2015 and December 31, 2014.

We also 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. The notional amount, interest rate and maturity date of these swaps generally match the principal, interest payment and maturity date of the related debt, and the swaps are valued using observable benchmark rates (Level 2 valuation). The notional amount of interest rate derivative instruments in fair value hedge relationships was $450,000 at April 5, 2015 and December 31, 2014.

Equity Price Risk

We are exposed to market price changes in certain broad market indices related to our deferred compensation obligations to our employees. 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 contracts outstanding was $24,400 and $26,417 at April 5, 2015 and December 31, 2014, respectively.

Fair Value of Derivative Instruments

The following table presents assets and liabilities that were measured at fair value in the Consolidated Balance Sheet on a recurring basis as of April 5, 2015 and December 31, 2014 :



	April 5, 2015				December 31, 2014
	Assets (1)		Liabilities (1)		Assets (1)		Liabilities (1)
Derivatives designated as cash flow hedging instruments:
Commodities futures and options (2)	$	—	$	1,740	$	—	$	9,944
Foreign exchange contracts (3)	3,269		3,096		2,196		2,447
Interest rate swap agreements (4)	—		57,859		—		29,505
Cross-currency swap agreement (5)	2,790		—		2,016		—
	6,059		62,695		4,212		41,896
Derivatives designated as fair value hedging instruments:
Interest rate swap agreements (4)	13,771		—		1,746		—

Derivatives not designated as hedging instruments:
Deferred compensation derivatives (6)	172		—		1,074		—
Foreign exchange contracts (3)	1,656		1,121		4,049		2,334
	1,828		1,121		5,123		2,334
Total	$	21,658	$	63,816	$	11,081	$	44,230


(1)	Derivative assets are classified on our balance sheet within prepaid expenses and other if current and other assets if non-current. Derivative liabilities are classified on our balance sheet within accrued liabilities if current and other long-term liabilities if non-current.

(2)

The fair value of commodities futures and options contracts is based on quoted market prices and is, therefore, categorized as Level 1 within the fair value hierarchy. As of April 5, 2015, accrued liabilities reflects the net of assets of $52,338 and accrued liabilities of $52,406 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 accrued liabilities at December 31, 2014 were assets of $51,225 and accrued liabilities of $56,840. At April 5, 2015, the remaining amount reflected in liabilities related to the fair value of non-exchange traded derivative instruments. At December 31, 2014, the remaining amount reflected in liabilities related to the fair value of options contracts and other non-exchange traded derivative instruments.

(3)

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. These contracts are classified as Level 2 within the fair value hierarchy.

(4)

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. Such contracts are categorized as Level 2 within the fair value hierarchy.


(5)	The fair value of the cross-currency swap agreement is categorized as Level 2 within the fair value hierarchy and is estimated based on the difference between the contract and current market foreign currency exchange rates at the end of the period.


(6)	The fair value of deferred compensation derivatives is based on quoted prices for market interest rates and a broad market equity index and is, therefore, categorized as Level 2 within the fair value hierarchy.

Fair Value of Other Financial Instruments

The carrying amounts of cash and cash equivalents, short-term investments, accounts receivable, accounts payable and short-term debt approximated fair value as of April 5, 2015 and December 31, 2014 because of the relatively short maturity of these instruments.

The carrying value of long-term debt, including the current portion, was $1,811,049 as of April 5, 2015, compared with a fair value of $2,008,734. The estimated fair value of long-term debt is based on quoted market prices for similar debt issues and is, therefore, classified as Level 2 within the valuation hierarchy.

Income Statement Impact of Derivative Instruments

The effect of derivative instruments on the Consolidated Statements of Income for the three months ended April 5, 2015 and March 30, 2014 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 accumulated other comprehensive income (“OCI”) (effective portion)						Gains (losses) reclassified from accumulated OCI into income (effective portion) (b)						Losses recognized in income (ineffective portion) (c)
	2015			2014			2015			2014			2015			2014			2015			2014
Commodities futures and options	$	(2,777	)	$	2,339		$	(15,098	)	$	39,955		$	1,200		$	15,900		$	(287	)	$	(412	)
Foreign exchange contracts	(67		)	(10,468		)	1,240			1,136			341			143			—			—
Interest rate swap agreements	—			—			(28,354		)	(8,648		)	(1,189		)	(1,127		)	—			—
Deferred compensation derivatives	172			69			—			—			—			—			—			—
Total	$	(2,672	)	$	(8,060	)	$	(42,212	)	$	32,443		$	352		$	14,916		$	(287	)	$	(412	)


(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 reclassified from accumulated OCI 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 for foreign currency forward exchange contracts were included in selling, marketing and administrative expenses. Losses reclassified from accumulated OCI into income for interest rate swap agreements were included in interest expense.


(c)	Losses representing hedge ineffectiveness were included in cost of sales for commodities futures and options contracts.

The amount of net losses on cash flow hedging derivatives, including interest rate swap agreements, foreign currency forward exchange contracts, and commodities futures and options contracts, expected to be reclassified into income in the next 12 months was approximately $6,811 after tax as of April 5, 2015. This amount was primarily associated with commodities futures contracts.

Fair Value Hedges

For the three months ended April 5, 2015, we recognized a net pretax benefit to interest expense of $2,095 relating to our fixed-to-floating interest rate swap arrangements.

NONCONTROLLING INTERESTS IN SUBSIDIARIES

3 Months Ended

Apr. 05, 2015

Noncontrolling Interest [Abstract]

NONCONTROLLING INTERESTS IN SUBSIDIARIES

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

We also own a 51% controlling interest in Hershey do Brasil under a cooperative agreement with Pandurata Netherlands B.V. (“Bauducco”), a leading manufacturer of baked goods in Brazil whose primary brand is Bauducco. At the end of 2014, per the terms of the prevailing quotaholder’s agreement, Bauducco provided notice of its intent to sell its 49% interest to us at an amount equal to fair value.

Because the noncontrolling interest is redeemable as a result of the put right, the presentation of the noncontrolling interest has been revised to be reflected as a redeemable noncontrolling interest within the balance sheet as of April 5, 2015. In addition, the balance was increased in the first quarter of 2015 by $21,664, in order to reflect the balance at its estimated redemption value based on the current internal valuation for the business. The offset of this adjustment was recorded to additional paid in capital. Our purchase of the redeemable noncontrolling interest is expected to be finalized in the second quarter of 2015.



	Noncontrolling Interests			Redeemable Noncontrolling Interest
Balance, December 31, 2014	$	64,468		$	—
Reclassification from Total Equity to Redeemable Noncontrolling Interest	(13,428		)	13,428
Net loss attributable to noncontrolling interests (1)	(32		)	(1,794		)
Other comprehensive loss - foreign currency translation adjustments	(1,175		)	(2,334		)
Adjustment to redemption value	—			21,664
Other	—			(2,346		)
Balance, April 5, 2015	$	49,833		$	28,618

(1) Amounts are deemed to be immaterial and are presented within selling, marketing and administrative expenses.

COMPREHENSIVE INCOME

3 Months Ended

Apr. 05, 2015

Comprehensive Income Disclosure [Abstract]

COMPREHENSIVE INCOME

A summary of the components of comprehensive income is as follows:



	Three Months Ended
	April 5, 2015
	Pre-Tax Amount			Tax (Expense) Benefit			After-Tax Amount
Net income							$	244,737
Other comprehensive (loss) income:
Foreign currency translation adjustments	$	(27,718	)	$	—		(27,718		)
Pension and post-retirement benefit plans (a)	8,662			(3,201		)	5,461
Cash flow hedges:
Losses on cash flow hedging derivatives	(42,212		)	16,120			(26,092		)
Reclassification adjustments (b)	(352		)	(47		)	(399		)
Total other comprehensive loss	$	(61,620	)	$	12,872		(48,748		)
Total comprehensive income							195,989
Comprehensive loss attributable to redeemable and noncontrolling interests							3,509
Comprehensive income attributable to The Hershey Company							$	199,498



	Three Months Ended
	March 30, 2014
	Pre-Tax Amount			Tax (Expense) Benefit			After-Tax Amount
Net income							$	252,495
Other comprehensive income (loss):
Foreign currency translation adjustments	$	(468	)	$	—		(468		)
Pension and post-retirement benefit plans (a)	5,710			(2,150		)	3,560
Cash flow hedges:
Gains on cash flow hedging derivatives	32,443			(12,004		)	20,439
Reclassification adjustments (b)	(14,916		)	5,677			(9,239		)
Total other comprehensive income	$	22,769		$	(8,477	)	14,292
Comprehensive income							$	266,787


(a)	These amounts are included in the computation of net periodic benefit costs. For more information, see Note 11.


(b)	For information on the presentation of reclassification adjustments for cash flow hedges on the Consolidated Statements of Income, see Note 5.

The components of accumulated other comprehensive loss as shown on the Consolidated Balance Sheets are as follows:



	April 5, 2015			December 31, 2014
Foreign currency translation adjustments	$	(67,890	)	$	(43,681	)
Pension and post-retirement benefit plans, net of tax	(279,189		)	(284,650		)
Cash flow hedges, net of tax	(56,733		)	(30,242		)
Total accumulated other comprehensive loss	$	(403,812	)	$	(358,573	)

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 45
-Paragraph 15
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-Topic 220
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Glossary Reclassification Adjustments
-URI http://asc.fasb.org/extlink&oid=6522872

+ Details

EARNINGS PER SHARE

3 Months Ended

Apr. 05, 2015

Earnings Per Share [Abstract]

EARNINGS PER SHARE

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



	Three Months Ended
	April 5, 2015		March 30, 2014
Net income	$	244,737	$	252,495
Weighted-average shares – basic:
Common stock	160,024		163,593
Class B common stock	60,620		60,620
Total weighted-average shares – basic:	220,644		224,213
Effect of dilutive securities:
Employee stock options	1,687		2,337
Performance and restricted stock units	388		496
Weighted-average shares – diluted	222,719		227,046
Earnings per share – basic:
Common stock	$	1.14	$	1.16
Class B common stock	$	1.04	$	1.04
Earnings per share – diluted:
Common stock	$	1.10	$	1.11
Class B common stock	$	1.03	$	1.03

The Class B Common Stock is convertible into Common Stock on a share for share basis at any time. The calculation of earnings per share-diluted for the Class B Common Stock was performed using the two-class method and the calculation of earnings per share-diluted for the Common Stock was performed using the if-converted method.

The earnings per share calculations for the three months ended April 5, 2015 and March 30, 2014 exclude 2,545 and 1,365 stock options, respectively, that would have been antidilutive.

BUSINESS REALIGNMENT

3 Months Ended

Apr. 05, 2015

Restructuring and Related Activities [Abstract]

BUSINESS REALIGNMENT

Business realignment charges recorded during the three-month periods ended April 5, 2015 and March 30, 2014 were as follows:



	Three Months Ended
	April 5, 2015		March 30, 2014
Cost of sales - principally 2014 international programs	$	1,348	$	101
Selling, marketing and administrative - principally 2014 international programs	1,125		—
Business realignment charges:
Project Next Century - plant closure expenses	—		2,925
Divestiture of Mauna Loa	2,667		—
Total business realignment charges	2,667		2,925
Total charges associated with business realignment initiatives	$	5,140	$	3,026

Costs incurred during the quarter ended April 5, 2015 represent accelerated depreciation and amortization charges relating to programs commenced in 2014 to rationalize select non-U.S. manufacturing and distribution activities. See Note 2 for more information related to the divestiture of Mauna Loa.

The Project Next Century program was substantially complete as of December 31, 2014. The 2014 plant closure expenses were primarily related to costs associated with the demolition of the former manufacturing facility.

STOCK COMPENSATION PLAN

3 Months Ended

Apr. 05, 2015

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

STOCK COMPENSATION PLANS

We have various stock-based compensation programs under which awards, including stock options, performance stock units (“PSUs”) and performance stock, stock appreciation rights, restricted stock units (“RSUs”) and restricted stock may be granted to employees, non-employee directors and certain service providers upon whom the successful conduct of our business is dependent. These programs and the accounting treatment related thereto are described in Note 10 to the Consolidated Financial Statements included in our 2014 Annual Report on Form 10-K.

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



	Three Months Ended
	April 5, 2015		March 30, 2014
Pre-tax compensation expense	$	13,889	$	12,955
Related income tax benefit	$	4,861	$	4,444

As of April 5, 2015, total stock-based compensation cost related to non-vested awards not yet recognized was $97,406 and the weighted-average period over which this amount is expected to be recognized was approximately 2.3 years.

Stock Options

A summary of activity relating to grants of stock options for the period ended April 5, 2015 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	7,319,377		$66.69	6.3 years
Granted	1,256,775		$105.91
Exercised	(750,569	)	$52.81
Forfeited	(50,953	)	$91.69
Outstanding as of April 5, 2015	7,774,630		$74.22	6.8 years	$	220,730
Options exercisable as of April 5, 2015	4,444,877		$58.61	5.4 years	190,253

The weighted-average fair value of options granted was $19.31 per share and $21.52 per share for the periods ended April 5, 2015 and March 30, 2014, respectively. The fair value was estimated on the date of grant using a Black-Scholes option-pricing model and the following weighted-average assumptions:



	Three Months Ended
	April 5, 2015		March 30, 2014
Dividend yields	2.0	%	2.0	%
Expected volatility	20.8	%	22.3	%
Risk-free interest rates	1.9	%	2.1	%
Expected lives in years	6.7		6.7

The total intrinsic value of options exercised was $39,606 and $88,814 for the periods ended April 5, 2015 and March 30, 2014, respectively.

Performance Stock Units and Restricted Stock Units

A summary of activity relating to grants of PSUs and RSUs for the period ended April 5, 2015 is as follows:



Performance Stock Units and Restricted Stock Units	Number of Units		Weighted-average grant date fair value for equity awards or market value for liability awards (per unit)
Outstanding at beginning of year	904,306		$94.48
Granted	266,099		$109.35
Performance assumption change	(159,026	)	$81.58
Vested	(356,305	)	$73.04
Forfeited	(7,923	)	$88.13
Outstanding as of April 5, 2015	647,151		$106.04

The table above excludes PSU awards for 25,462 units as of December 31, 2014 and 23,622 units as of April 5, 2015 for which the measurement date has not yet occurred for accounting purposes.

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



	Three Months Ended
	April 5, 2015		March 30, 2014
Units granted	266,099		292,896
Weighted-average fair value at date of grant (per unit)	$109.35		$117.30
Monte Carlo simulation assumptions:
Estimated values (per unit)	$61.22		$80.95
Dividend yields	2.0	%	1.8	%
Expected volatility	14.9	%	15.5	%

The intrinsic value of share-based liabilities paid, combined with the fair value of shares vested, totaled $37,464 and $52,777 for the periods ended April 5, 2015 and March 30, 2014, respectively.

Deferred PSUs, deferred RSUs and deferred stock units representing directors’ fees totaled 501,480 units as of April 5, 2015. Each unit is equivalent to one share of the Company’s Common Stock.

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS

3 Months Ended

Apr. 05, 2015

Compensation and Retirement Disclosure [Abstract]

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS

Components of net periodic benefit cost were as follows:



	Pension Benefits						Other Benefits
	Three Months Ended						Three Months Ended
	April 5, 2015			March 30, 2014			April 5, 2015		March 30, 2014
Service cost	$	7,423		$	6,885		$	172	$	177
Interest cost	11,305			12,225			2,588		2,890
Expected return on plan assets	(17,381		)	(18,586		)	—		—
Amortization of prior service (credit) cost	(291		)	(167		)	153		154
Amortization of net actuarial loss (gains)	8,072			5,738			—		(26		)
Administrative expenses	232			177			5		10
Net periodic benefit cost	$	9,360		$	6,272		$	2,918	$	3,205

We made contributions of $851 and $4,456 to the pension plans and other benefits plans, respectively, during the first quarter of 2015. In the first quarter of 2014, we made contributions of $1,551 and $5,140 to our pension plans and other benefits plans, respectively. The contributions in 2015 and 2014 also included benefit payments from our non-qualified pension plans and post-retirement benefit plans.

For 2015, there are no significant minimum funding requirements for our domestic pension plans; however, we expect to make additional contributions of approximately $23,600 to maintain the funded status. Planned voluntary funding of our non-domestic pension plans in 2015 is not material.

For more information, refer to the Consolidated Financial Statements included in our 2014 Annual Report on Form 10-K.

SEGMENT INFORMATION

3 Months Ended

Apr. 05, 2015

Segment Reporting [Abstract]

SEGMENT INFORMATION

We operate under a matrix reporting structure designed to ensure continued focus on North America, coupled with an emphasis on accelerating growth in our international markets, as we transform into a more global company. Our business is organized around geographic regions and strategic business units. It is designed to enable us to build processes for repeatable success in our global markets. The Presidents of our geographic regions, along with the Senior Vice President responsible for our Global Retail and Licensing business, are accountable for delivering our annual financial plans and report into our Chief Executive Officer, who serves as our Chief Operating Decision Maker (“CODM”), so we have defined our operating segments on a geographic basis. Our North America business currently generates over 85% of our consolidated revenue and none of our other geographic regions are individually significant.

We currently define our reportable segments as follows:


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

•

International and Other - This segment includes all other countries where The Hershey Company currently manufactures, imports, markets, sells or distributes chocolate, sugar confectionery and other products. Currently, this includes our operations in Mexico, Brazil and Puerto Rico, as well as Europe, Africa, the Middle East and Asia, primarily China, India, Korea, Japan and the Philippines; along with exports to these regions. While a minor component, this segment also includes our global retail operations, including Hershey's Chocolate World stores in Hershey, Pennsylvania, New York City, Chicago, Las Vegas, Shanghai, Niagara Falls (Ontario), Dubai, and Singapore, as well as operations associated with licensing the use of certain of the Company's trademarks and products to third parties around the world.

For segment reporting purposes, we use “segment income” to evaluate segment performance and allocate resources. Segment income excludes unallocated general corporate administrative expenses, as well as charges associated with business realignment activities, acquisition-related costs, the non-service related portion of pension expense and other unusual gains or losses that are not part of our measurement of segment performance. These 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.

Accounting policies associated with our operating segments are generally the same as those described in Note 1 to the Consolidated Financial Statements included in our 2014 Annual Report on Form 10-K.

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 three months ended	April 5, 2015			March 30, 2014
Net sales:
North America	$	1,706,995		$	1,659,047
International and Other	230,805			212,766
Total	$	1,937,800		$	1,871,813

Segment income:
North America	$	554,305		$	538,705
International and Other	(21,759		)	6,615
Total segment income	532,546			545,320
Unallocated corporate expense (1)	138,781			128,222
Charges associated with business realignment initiatives	5,140			3,026
Non-service related pension expense (income)	1,996			(623		)
Acquisition integration costs	2,573			11,089
Gain on sale of trademark	(9,950		)	—
Income before interest and income taxes	394,006			403,606
Interest expense, net	19,202			21,285
Income before income taxes	$	374,804		$	382,321

(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.

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



For the three months ended	April 5, 2015		March 30, 2014
North America	$	35,440	$	35,027
International and Other	11,124		5,772
Corporate, including business realignment	11,774		8,504
Total	$	58,338	$	49,303

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
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-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

+ Details

INCOME TAXES	3 Months Ended
INCOME TAXES	Apr. 05, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The majority of our taxable income is generated in the U.S. and taxed at the U.S. statutory rate of 35%. The effective tax rates for the three months ended April 5, 2015 and March 30, 2014 were 34.7% and 34.0%, respectively. Hershey and its subsidiaries file tax returns in the U.S., including various state and local returns, and in other foreign jurisdictions. We believe adequate provision has been made for all income tax uncertainties. We are routinely audited by taxing authorities in our filing jurisdictions, and a number of these audits are currently underway. We reasonably expect reductions in the liability for unrecognized tax benefits of approximately $4,557 within the next 12 months because of the expiration of statutes of limitations and settlements of tax audits.

INVENTORIES

3 Months Ended

Apr. 05, 2015

Inventory Disclosure [Abstract]

INVENTORIES

We value the majority of our U.S. inventories under the last-in, first-out (“LIFO”) method and the remaining inventories at the lower of first-in, first-out (“FIFO”) cost or market. Inventories were as follows:



	April 5, 2015			December 31, 2014
Raw materials	$	345,622		$	377,620
Goods in process	97,079			63,916
Finished goods	516,661			531,608
Inventories at FIFO	959,362			973,144
Adjustment to LIFO	(213,601		)	(172,108		)
Total inventories	$	745,761		$	801,036

PROPERTY, PLANT AND EQUIPMENT

3 Months Ended

Apr. 05, 2015

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

Major classes of property, plant and equipment were as follows:



	April 5, 2015			December 31, 2014
Land	$	95,828		$	95,913
Buildings	1,030,747			1,031,050
Machinery and equipment	2,870,518			2,863,559
Construction in progress	358,152			338,085
Property, plant and equipment, gross	4,355,245			4,328,607
Accumulated depreciation	(2,206,030		)	(2,176,706		)
Property, plant and equipment, net	$	2,149,215		$	2,151,901

TREASURY STOCK ACTIVITY

3 Months Ended

Apr. 05, 2015

Stockholders' Equity Note [Abstract]

TREASURY STOCK ACTIVITY

A summary of our treasury stock activity is as follows:



	Three Months Ended April 5, 2015
	Shares		Dollars
			In thousands
Shares repurchased under pre-approved share repurchase programs	1,644,328		$	172,797
Shares repurchased to replace Treasury Stock issued for stock options and incentive compensation	1,271,266		133,876
Total share repurchases	2,915,594		306,673
Shares issued for stock options and incentive compensation	(981,715	)	(40,849		)
Net change	1,933,879		$	265,824

The $250 million share repurchase program approved by our Board of Directors in February 2014 was completed in the first quarter of 2015.

In February 2015, our Board of Directors approved an additional $250 million authorization to repurchase shares of our Common Stock. As of April 5, 2015, $250 million remained available for repurchases of our Common Stock under this program. We are authorized to purchase our outstanding shares in open market and privately negotiated transactions. The program has no expiration date and acquired shares of Common Stock will be held as treasury shares. Similar to prior programs, approved share repurchase authorizations are in addition to our practice of buying back shares sufficient to offset those issued under incentive compensation plans.

CONTINGENCIES	3 Months Ended
CONTINGENCIES	Apr. 05, 2015
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES In 2007, the Competition Bureau of Canada began an inquiry into alleged violations of the Canadian Competition Act in the sale and supply of chocolate products sold in Canada between 2002 and 2008 by members of the confectionery industry, including Hershey Canada, Inc. The U.S. Department of Justice also notified the Company in 2007 that it had opened an inquiry, but has not requested any information or documents. Subsequently, 13 civil lawsuits were filed in Canada and 91 civil lawsuits were filed in the United States against the Company. The lawsuits were instituted on behalf of direct purchasers of our products as well as indirect purchasers that purchase our products for use or for resale. Several other chocolate and confectionery companies were named as defendants in these lawsuits as they also were the subject of investigations and/or inquiries by the government entities referenced above. The cases sought recovery for losses suffered as a result of alleged conspiracies in restraint of trade in connection with the pricing practices of the defendants. The Canadian civil cases were settled in 2012. Hershey Canada, Inc. reached a settlement agreement with the Competition Bureau of Canada through their Leniency Program with regard to an inquiry into alleged violations of the Canadian Competition Act in the sale and supply of chocolate products sold in Canada by members of the confectionery industry. On June 21, 2013, Hershey Canada, Inc. pleaded guilty to one count of price fixing related to communications with competitors in Canada in 2007 and paid a fine of approximately $4.0 million. Hershey Canada, Inc. had promptly reported the conduct to the Competition Bureau, cooperated fully with its investigation and did not implement the planned price increase that was the subject of the 2007 communications. With regard to the U.S. lawsuits, the Judicial Panel on Multidistrict Litigation assigned the cases to the U.S. District Court for the Middle District of Pennsylvania (the “District Court”). Plaintiffs sought actual and treble damages against the Company and other defendants based on an alleged overcharge for certain, or in some cases all, chocolate products sold in the U.S. between December 2002 and December 2007, and certain plaintiff groups alleged damages that extended beyond the alleged conspiracy period. The lawsuits had been proceeding on different scheduling tracks for different groups of plaintiffs. On February 26, 2014, the District Court granted summary judgment to the Company in the cases brought by the direct purchaser plaintiffs that had not sought class certification as well as those that had been certified as a class. The direct purchaser plaintiffs appealed the District Court's decision to the United States Court of Appeals for the Third Circuit (“Third Circuit”) in May 2014. The appeal remains pending before the Third Circuit. The remaining plaintiff groups - the putative class plaintiffs that purchased product indirectly for resale, the putative class plaintiffs that purchased product indirectly for use, and direct purchaser Associated Wholesale Grocers, Inc. - dismissed their cases with prejudice, subject to reinstatement if the Third Circuit were to reverse the District Court’s summary judgment decision. The District Court entered judgment closing the case on April 17, 2014. Competition and antitrust law investigations can be lengthy and violations are subject to civil and/or criminal fines and other sanctions. Class action civil antitrust lawsuits are expensive to defend and could result in significant judgments, including in some cases, payment of treble damages and/or attorneys' fees to the successful plaintiff. Additionally, negative publicity involving these proceedings could affect our Company's brands and reputation, possibly resulting in decreased demand for our products. These possible consequences, in our opinion, are currently not expected to materially impact our financial position or liquidity, but could materially impact our results of operations and cash flows in the period in which any fines, settlements or judgments are accrued or paid, respectively. We have no other material pending legal proceedings, other than ordinary routine litigation incidental to our business.

BUSINESS ACQUISITIONS AND DIVESTITURES (Tables)

3 Months Ended

Apr. 05, 2015

Business Acquisition [Line Items]

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]

Amounts classified as assets and liabilities held for sale at December 31, 2014 were presented within prepaid expenses and other assets and accrued liabilities, respectively, and included the following:



Assets held for sale
Inventories	$	21,489
Prepaid expenses and other	173
Property, plant and equipment, net	12,691
Other intangibles	12,705
	$	47,058
Liabilities held for sale
Accounts payable and accrued liabilities	$	3,726
Other long-term liabilities	9,029
	$	12,755

Krave Pure Foods [Member]

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

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



Goodwill	$	147,334
Trademarks	112,000
Other intangible assets	17,000
Other assets, primarily current assets, net of cash acquired totaling $1,362	9,497
Current liabilities	(2,735		)
Non-current deferred tax liabilities	(47,344		)
Net assets acquired	$	235,752

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References + Details

GOODWILL AND INTANGIBLE ASSETS (Tables)

3 Months Ended

Apr. 05, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill [Table Text Block]

The changes in the carrying value of goodwill by reportable segment for the quarter ended April 5, 2015 are as follows:



	North America			International and Other			Total
Balance at December 31, 2014	$	533,349		$	259,606		$	792,955
Acquired during the period	147,334			—			147,334
Purchase price allocation adjustments	1,588			6,623			8,211
Foreign currency translation	(8,830		)	(5,899		)	(14,729		)
Balance at April 5, 2015	$	673,441		$	260,330		$	933,771

Schedule of Finite-Lived Intangible Assets [Table Text Block]

The following table provides a summary of the major categories of intangible assets:



	April 5, 2015			December 31, 2014
Intangible assets not subject to amortization:
Trademarks	$	44,822		$	45,000
Intangible assets subject to amortization:
Trademarks, customer relationships, patents and other finite-lived intangibles	413,482			295,375
Less: accumulated amortization	(50,548		)	(45,534		)
Total other intangible assets	$	407,756		$	294,841

DEBT AND FINANCING ARRANGEMENTS (Tables)

3 Months Ended

Apr. 05, 2015

Long-term Debt, Unclassified [Abstract]

Schedule Of Net Interest Expense [Table Text Block]

Net interest expense consisted of the following:



	Three Months Ended
	April 5, 2015			March 30, 2014
Interest expense	$	23,024		$	23,314
Interest income	(805		)	(946		)
Capitalized interest	(3,017		)	(1,083		)
Interest expense, net	$	19,202		$	21,285

FINANCIAL INSTRUMENTS AND FAIR VALUE (Tables)

3 Months Ended

Apr. 05, 2015

Derivative Instruments, Gain (Loss) [Line Items]

The fair value of derivative instruments

The following table presents assets and liabilities that were measured at fair value in the Consolidated Balance Sheet on a recurring basis as of April 5, 2015 and December 31, 2014 :



	April 5, 2015				December 31, 2014
	Assets (1)		Liabilities (1)		Assets (1)		Liabilities (1)
Derivatives designated as cash flow hedging instruments:
Commodities futures and options (2)	$	—	$	1,740	$	—	$	9,944
Foreign exchange contracts (3)	3,269		3,096		2,196		2,447
Interest rate swap agreements (4)	—		57,859		—		29,505
Cross-currency swap agreement (5)	2,790		—		2,016		—
	6,059		62,695		4,212		41,896
Derivatives designated as fair value hedging instruments:
Interest rate swap agreements (4)	13,771		—		1,746		—

Derivatives not designated as hedging instruments:
Deferred compensation derivatives (6)	172		—		1,074		—
Foreign exchange contracts (3)	1,656		1,121		4,049		2,334
	1,828		1,121		5,123		2,334
Total	$	21,658	$	63,816	$	11,081	$	44,230


(1)	Derivative assets are classified on our balance sheet within prepaid expenses and other if current and other assets if non-current. Derivative liabilities are classified on our balance sheet within accrued liabilities if current and other long-term liabilities if non-current.

(2)

(3)

(4)


(5)	The fair value of the cross-currency swap agreement is categorized as Level 2 within the fair value hierarchy and is estimated based on the difference between the contract and current market foreign currency exchange rates at the end of the period.


(6)	The fair value of deferred compensation derivatives is based on quoted prices for market interest rates and a broad market equity index and is, therefore, categorized as Level 2 within the fair value hierarchy.

Gain (Loss) in Consolidates Statements of Income

The effect of derivative instruments on the Consolidated Statements of Income for the three months ended April 5, 2015 and March 30, 2014 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 accumulated other comprehensive income (“OCI”) (effective portion)						Gains (losses) reclassified from accumulated OCI into income (effective portion) (b)						Losses recognized in income (ineffective portion) (c)
	2015			2014			2015			2014			2015			2014			2015			2014
Commodities futures and options	$	(2,777	)	$	2,339		$	(15,098	)	$	39,955		$	1,200		$	15,900		$	(287	)	$	(412	)
Foreign exchange contracts	(67		)	(10,468		)	1,240			1,136			341			143			—			—
Interest rate swap agreements	—			—			(28,354		)	(8,648		)	(1,189		)	(1,127		)	—			—
Deferred compensation derivatives	172			69			—			—			—			—			—			—
Total	$	(2,672	)	$	(8,060	)	$	(42,212	)	$	32,443		$	352		$	14,916		$	(287	)	$	(412	)


(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)


(c)	Losses representing hedge ineffectiveness were included in cost of sales for commodities futures and options contracts.

NONCONTROLLING INTERESTS IN SUBSIDIARIES (Tables)

3 Months Ended

Apr. 05, 2015

Noncontrolling Interest [Abstract]

Redeemable Noncontrolling Interest [Table Text Block]

Our purchase of the redeemable noncontrolling interest is expected to be finalized in the second quarter of 2015.



	Noncontrolling Interests			Redeemable Noncontrolling Interest
Balance, December 31, 2014	$	64,468		$	—
Reclassification from Total Equity to Redeemable Noncontrolling Interest	(13,428		)	13,428
Net loss attributable to noncontrolling interests (1)	(32		)	(1,794		)
Other comprehensive loss - foreign currency translation adjustments	(1,175		)	(2,334		)
Adjustment to redemption value	—			21,664
Other	—			(2,346		)
Balance, April 5, 2015	$	49,833		$	28,618

(1) Amounts are deemed to be immaterial and are presented within selling, marketing and administrative expenses.

COMPREHENSIVE INCOME (Tables)

3 Months Ended

Apr. 05, 2015

Comprehensive Income Disclosure [Abstract]

Schedule of Comprehensive Income (Loss)

A summary of the components of comprehensive income is as follows:



	Three Months Ended
	April 5, 2015
	Pre-Tax Amount			Tax (Expense) Benefit			After-Tax Amount
Net income							$	244,737
Other comprehensive (loss) income:
Foreign currency translation adjustments	$	(27,718	)	$	—		(27,718		)
Pension and post-retirement benefit plans (a)	8,662			(3,201		)	5,461
Cash flow hedges:
Losses on cash flow hedging derivatives	(42,212		)	16,120			(26,092		)
Reclassification adjustments (b)	(352		)	(47		)	(399		)
Total other comprehensive loss	$	(61,620	)	$	12,872		(48,748		)
Total comprehensive income							195,989
Comprehensive loss attributable to redeemable and noncontrolling interests							3,509
Comprehensive income attributable to The Hershey Company							$	199,498



	Three Months Ended
	March 30, 2014
	Pre-Tax Amount			Tax (Expense) Benefit			After-Tax Amount
Net income							$	252,495
Other comprehensive income (loss):
Foreign currency translation adjustments	$	(468	)	$	—		(468		)
Pension and post-retirement benefit plans (a)	5,710			(2,150		)	3,560
Cash flow hedges:
Gains on cash flow hedging derivatives	32,443			(12,004		)	20,439
Reclassification adjustments (b)	(14,916		)	5,677			(9,239		)
Total other comprehensive income	$	22,769		$	(8,477	)	14,292
Comprehensive income							$	266,787


(a)	These amounts are included in the computation of net periodic benefit costs. For more information, see Note 11.


(b)	For information on the presentation of reclassification adjustments for cash flow hedges on the Consolidated Statements of Income, see Note 5.

Schedule of Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive loss as shown on the Consolidated Balance Sheets are as follows:



	April 5, 2015			December 31, 2014
Foreign currency translation adjustments	$	(67,890	)	$	(43,681	)
Pension and post-retirement benefit plans, net of tax	(279,189		)	(284,650		)
Cash flow hedges, net of tax	(56,733		)	(30,242		)
Total accumulated other comprehensive loss	$	(403,812	)	$	(358,573	)

EARNINGS PER SHARE (Tables)

3 Months Ended

Apr. 05, 2015

Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]

Schedule of Earnings Per Share, Basic and Diluted

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



	Three Months Ended
	April 5, 2015		March 30, 2014
Net income	$	244,737	$	252,495
Weighted-average shares – basic:
Common stock	160,024		163,593
Class B common stock	60,620		60,620
Total weighted-average shares – basic:	220,644		224,213
Effect of dilutive securities:
Employee stock options	1,687		2,337
Performance and restricted stock units	388		496
Weighted-average shares – diluted	222,719		227,046
Earnings per share – basic:
Common stock	$	1.14	$	1.16
Class B common stock	$	1.04	$	1.04
Earnings per share – diluted:
Common stock	$	1.10	$	1.11
Class B common stock	$	1.03	$	1.03

BUSINESS REALIGNMENT (Tables)

3 Months Ended

Apr. 05, 2015

Restructuring and Related Activities [Abstract]

Business Realignment

Business realignment charges recorded during the three-month periods ended April 5, 2015 and March 30, 2014 were as follows:



	Three Months Ended
	April 5, 2015		March 30, 2014
Cost of sales - principally 2014 international programs	$	1,348	$	101
Selling, marketing and administrative - principally 2014 international programs	1,125		—
Business realignment charges:
Project Next Century - plant closure expenses	—		2,925
Divestiture of Mauna Loa	2,667		—
Total business realignment charges	2,667		2,925
Total charges associated with business realignment initiatives	$	5,140	$	3,026

STOCK COMPENSATION PLAN (Tables)

3 Months Ended

Apr. 05, 2015

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

Stock Compensation Costs

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



	Three Months Ended
	April 5, 2015		March 30, 2014
Pre-tax compensation expense	$	13,889	$	12,955
Related income tax benefit	$	4,861	$	4,444

Schedule of Share-based Compensation, Stock Options, Activity

A summary of activity relating to grants of stock options for the period ended April 5, 2015 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	7,319,377		$66.69	6.3 years
Granted	1,256,775		$105.91
Exercised	(750,569	)	$52.81
Forfeited	(50,953	)	$91.69
Outstanding as of April 5, 2015	7,774,630		$74.22	6.8 years	$	220,730
Options exercisable as of April 5, 2015	4,444,877		$58.61	5.4 years	190,253

Fair Value of Each Stock Option Grant

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



	Three Months Ended
	April 5, 2015		March 30, 2014
Dividend yields	2.0	%	2.0	%
Expected volatility	20.8	%	22.3	%
Risk-free interest rates	1.9	%	2.1	%
Expected lives in years	6.7		6.7

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

A summary of activity relating to grants of PSUs and RSUs for the period ended April 5, 2015 is as follows:



Performance Stock Units and Restricted Stock Units	Number of Units		Weighted-average grant date fair value for equity awards or market value for liability awards (per unit)
Outstanding at beginning of year	904,306		$94.48
Granted	266,099		$109.35
Performance assumption change	(159,026	)	$81.58
Vested	(356,305	)	$73.04
Forfeited	(7,923	)	$88.13
Outstanding as of April 5, 2015	647,151		$106.04

Schedule Of Share Based Payment Award Market Based Total Shareholder Return Valuation Assumptions



	Three Months Ended
	April 5, 2015		March 30, 2014
Units granted	266,099		292,896
Weighted-average fair value at date of grant (per unit)	$109.35		$117.30
Monte Carlo simulation assumptions:
Estimated values (per unit)	$61.22		$80.95
Dividend yields	2.0	%	1.8	%
Expected volatility	14.9	%	15.5	%

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS (Tables)

3 Months Ended

Apr. 05, 2015

Compensation and Retirement Disclosure [Abstract]

Schedule of Defined Benefit Plans Disclosures

Components of net periodic benefit cost were as follows:



	Pension Benefits						Other Benefits
	Three Months Ended						Three Months Ended
	April 5, 2015			March 30, 2014			April 5, 2015		March 30, 2014
Service cost	$	7,423		$	6,885		$	172	$	177
Interest cost	11,305			12,225			2,588		2,890
Expected return on plan assets	(17,381		)	(18,586		)	—		—
Amortization of prior service (credit) cost	(291		)	(167		)	153		154
Amortization of net actuarial loss (gains)	8,072			5,738			—		(26		)
Administrative expenses	232			177			5		10
Net periodic benefit cost	$	9,360		$	6,272		$	2,918	$	3,205

SEGMENT INFORMATION (Tables)

3 Months Ended

Apr. 05, 2015

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

Our segment net sales and earnings were as follows:



For the three months ended	April 5, 2015			March 30, 2014
Net sales:
North America	$	1,706,995		$	1,659,047
International and Other	230,805			212,766
Total	$	1,937,800		$	1,871,813

Segment income:
North America	$	554,305		$	538,705
International and Other	(21,759		)	6,615
Total segment income	532,546			545,320
Unallocated corporate expense (1)	138,781			128,222
Charges associated with business realignment initiatives	5,140			3,026
Non-service related pension expense (income)	1,996			(623		)
Acquisition integration costs	2,573			11,089
Gain on sale of trademark	(9,950		)	—
Income before interest and income taxes	394,006			403,606
Interest expense, net	19,202			21,285
Income before income taxes	$	374,804		$	382,321

(1)

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



For the three months ended	April 5, 2015		March 30, 2014
North America	$	35,440	$	35,027
International and Other	11,124		5,772
Corporate, including business realignment	11,774		8,504
Total	$	58,338	$	49,303

INVENTORIES (Tables)

3 Months Ended

Apr. 05, 2015

Inventory Disclosure [Abstract]

Schedule Of Inventory

Inventories were as follows:



	April 5, 2015			December 31, 2014
Raw materials	$	345,622		$	377,620
Goods in process	97,079			63,916
Finished goods	516,661			531,608
Inventories at FIFO	959,362			973,144
Adjustment to LIFO	(213,601		)	(172,108		)
Total inventories	$	745,761		$	801,036

PROPERTY, PLANT AND EQUIPMENT (Tables)

3 Months Ended

Apr. 05, 2015

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Major classes of property, plant and equipment were as follows:



	April 5, 2015			December 31, 2014
Land	$	95,828		$	95,913
Buildings	1,030,747			1,031,050
Machinery and equipment	2,870,518			2,863,559
Construction in progress	358,152			338,085
Property, plant and equipment, gross	4,355,245			4,328,607
Accumulated depreciation	(2,206,030		)	(2,176,706		)
Property, plant and equipment, net	$	2,149,215		$	2,151,901

TREASURY STOCK ACTIVITY (Tables)

3 Months Ended

Apr. 05, 2015

Stockholders' Equity Note [Abstract]

Cumulative Share Repurchases And Issuances

A summary of our treasury stock activity is as follows:



	Three Months Ended April 5, 2015
	Shares		Dollars
			In thousands
Shares repurchased under pre-approved share repurchase programs	1,644,328		$	172,797
Shares repurchased to replace Treasury Stock issued for stock options and incentive compensation	1,271,266		133,876
Total share repurchases	2,915,594		306,673
Shares issued for stock options and incentive compensation	(981,715	)	(40,849		)
Net change	1,933,879		$	265,824

BUSINESS ACQUISITIONS AND DIVESTITURES (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended
	Dec. 31, 2014	Apr. 05, 2015	Apr. 05, 2015	Mar. 30, 2014
Business Acquisition [Line Items]
Goodwill, Acquired During Period			$ 147,334
Goodwill, Purchase Accounting Adjustments			8,211
Proceeds from sale of business			32,408	$ 0
Gain (Loss) on Disposition of Business			2,667	$ 0
Shanghai Golden Monkey [Member]
Business Acquisition [Line Items]
Business Combination, Contingent Consideration, Asset	$ 37,860
Business Combination, Consideration Transferred, Liabilities Incurred	$ 100,067
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	20.00%
Business Combination, Acquired Receivables, Fair Value		$ 8,685	8,685
Business Combination, Separately Recognized Transactions, Liabilities Recognized		$ 76,815	76,815
Goodwill, Purchase Accounting Adjustments			6,623
Krave Pure Foods [Member]
Business Acquisition [Line Items]
Business Acquisition, Effective Date of Acquisition		Mar. 01, 2015
Business Acquisition, Revenue Reported by Acquired Entity for Last Annual Period		$ 35,000
Business Combination, Consideration Transferred		220,314
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High		20,000	20,000
Business Combination, Liabilities Arising from Contingencies, Amount Recognized		16,800	16,800
Goodwill, Acquired During Period		147,334
Cash Acquired from Acquisition		1,362
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other		9,497	9,497
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities		(2,735)	(2,735)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent		(47,344)	(47,344)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		235,752	235,752
Krave Pure Foods [Member] \| Customer-Related Intangible Assets [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		17,000	17,000
Krave Pure Foods [Member] \| Trademarks [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		$ 112,000	112,000
Finite-Lived Intangible Asset, Useful Life		22 years
The Allan Candy Company [Member]
Business Acquisition [Line Items]
Goodwill, Purchase Accounting Adjustments			1,588
Minimum [Member] \| Krave Pure Foods [Member] \| Customer-Related Intangible Assets [Member]
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life		5 years
Maximum [Member] \| Krave Pure Foods [Member] \| Customer-Related Intangible Assets [Member]
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life		16 years
Mauna Loa [Member]
Business Acquisition [Line Items]
Proceeds from sale of business			32,400
Gain (Loss) on Disposition of Business			$ 2,667
Disposal Group, Including Discontinued Operation, Inventory	$ 21,489
Disposal Group, Including Discontinued Operation, Prepaid and Other Assets	173
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment	12,691
Disposal Group, Including Discontinued Operation, Intangible Assets	12,705
Disposal Group, Including Discontinued Operation, Assets	47,058
Disposal Group, Including Discontinued Operation, Accounts Payable and Accrued Liabilities	3,726
Disposal Group, Including Discontinued Operation, Liabilities, Noncurrent	9,029
Disposal Group, Including Discontinued Operation, Liabilities	$ 12,755

GOODWILL AND INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 05, 2015	Mar. 30, 2014	Dec. 31, 2014
Goodwill [Line Items]
Goodwill	$ 792,955
Goodwill, Acquired During Period	147,334
Goodwill, Purchase Accounting Adjustments	8,211
Goodwill, Translation Adjustments	(14,729)
Goodwill	933,771
Indefinite-Lived Trade Names	44,822		$ 45,000
Finite-Lived Intangible Assets, Gross	413,482		295,375
Finite-Lived Intangible Assets, Accumulated Amortization	(50,548)		(45,534)
Other Intangibles	407,756		$ 294,841
Amortization of Intangible Assets	5,014	$ 2,505
North America [Member]
Goodwill [Line Items]
Goodwill	533,349
Goodwill, Acquired During Period	147,334
Goodwill, Purchase Accounting Adjustments	1,588
Goodwill, Translation Adjustments	(8,830)
Goodwill	673,441
International and Other [Member]
Goodwill [Line Items]
Goodwill	259,606
Goodwill, Acquired During Period	0
Goodwill, Purchase Accounting Adjustments	6,623
Goodwill, Translation Adjustments	(5,899)
Goodwill	$ 260,330

DEBT AND FINANCING ARRANGEMENTS (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 05, 2015	Mar. 30, 2014	Dec. 31, 2014
Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,000,000
Commercial Paper	320,841		$ 54,995
Interest expense	23,024	$ 23,314
Interest income	(805)	(946)
Capitalized interest	(3,017)	(1,083)
Interest expense, net	$ 19,202	$ 21,285
Commercial Paper [Member]
Debt [Line Items]
Short-term Debt, Weighted Average Interest Rate	0.12%		0.09%
Foreign Line of Credit [Member]
Debt [Line Items]
Line of Credit, Current	$ 328,262		$ 329,701

FINANCIAL INSTRUMENTS AND FAIR VALUE (Details) - USD ($)	3 Months Ended
	Apr. 05, 2015	Mar. 30, 2014	Dec. 31, 2014
Balance Sheet Caption
Cash Flow Hedge Derivative Instrument Assets at Fair Value	$ 6,059,000		$ 4,212,000
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value	1,828,000		5,123,000
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	62,695,000		41,896,000
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	1,121,000		2,334,000
Derivative Asset Current Commodity Last Day Activity	52,338,000		51,225,000
Derivative Liability Current Commodity Last Day Activity	52,406,000		56,840,000
Long-term Debt	1,811,049,000
Long-term Debt, Fair Value	2,008,734,000
Schedule Of Derivative Instruments Gain Loss In Statement Of Financial Performance [Abstract]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(2,672,000)	$ (8,060,000)
Gains (losses) recognized in other comprehensive income (OCI)(effective portion)	(42,212,000)	32,443,000
Gains (losses) reclassified from accumulated OCI into income (effective portion)	352,000	14,916,000
Gains (losses) recognized in income (ineffective portion)	(287,000)	(412,000)
Derivative, Gain (Loss) on Derivative, Net	2,095,000
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months (after tax)	$ 6,811,000
Commodity [Member]
Derivatives, Fair Value [Line Items]
Minimum Length of Time Hedged in Cash Flow Hedge	3 months
Maximum Length of Time Hedged in Cash Flow Hedge	24 months
Commodities Futures and Options Contracts
Schedule Of Derivative Instruments Gain Loss In Statement Of Financial Performance [Abstract]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ (2,777,000)	2,339,000
Gains (losses) recognized in other comprehensive income (OCI)(effective portion)	(15,098,000)	39,955,000
Gains (losses) reclassified from accumulated OCI into income (effective portion)	1,200,000	15,900,000
Gains (losses) recognized in income (ineffective portion)	$ (287,000)	(412,000)
Foreign Exchange Forward Contracts
Derivatives, Fair Value [Line Items]
Minimum Length of Time Hedged in Cash Flow Hedge	3 months
Maximum Length of Time Hedged in Cash Flow Hedge	24 months
Net notional amount of foreign exchange contracts accounted for as cash flow hedges	$ 16,584,000		22,725,000
Net notional amount of foreign exchange contracts that are not designated as accounting hedges	35,035,000		4,144,000
Schedule Of Derivative Instruments Gain Loss In Statement Of Financial Performance [Abstract]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(67,000)	(10,468,000)
Gains (losses) recognized in other comprehensive income (OCI)(effective portion)	1,240,000	1,136,000
Gains (losses) reclassified from accumulated OCI into income (effective portion)	341,000	143,000
Gains (losses) recognized in income (ineffective portion)	0	0
Interest Rate Swap Agreements
Schedule Of Derivative Instruments Gain Loss In Statement Of Financial Performance [Abstract]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	0	0
Gains (losses) recognized in other comprehensive income (OCI)(effective portion)	(28,354,000)	(8,648,000)
Gains (losses) reclassified from accumulated OCI into income (effective portion)	(1,189,000)	(1,127,000)
Gains (losses) recognized in income (ineffective portion)	0	0
Equity Swap
Derivatives, Fair Value [Line Items]
Notional amount of interest rate derivative instruments	24,400,000		26,417,000
Schedule Of Derivative Instruments Gain Loss In Statement Of Financial Performance [Abstract]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	172,000	69,000
Gains (losses) recognized in other comprehensive income (OCI)(effective portion)	0	0
Gains (losses) reclassified from accumulated OCI into income (effective portion)	0	0
Gains (losses) recognized in income (ineffective portion)	$ 0	$ 0
Minimum Length of Time Hedged in Fair Value Hedge	3 months
Maximum Length of Time Hedged in Fair Value Hedge	12 months
Fair Value, Inputs, Level 1 \| Commodity [Member]
Balance Sheet Caption
Cash Flow Hedge Derivative Instrument Assets at Fair Value	$ 0		0
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	1,740,000		9,944,000
Fair Value, Inputs, Level 2 \| Foreign Exchange Forward Contracts
Balance Sheet Caption
Cash Flow Hedge Derivative Instrument Assets at Fair Value	3,269,000		2,196,000
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value	1,656,000		4,049,000
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	3,096,000		2,447,000
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	1,121,000		2,334,000
Fair Value, Inputs, Level 2 \| Interest Rate Swap Agreements
Derivatives, Fair Value [Line Items]
Fair Value Hedge Assets	13,771,000		1,746,000
Fair Value Hedge Liabilities	0		0
Balance Sheet Caption
Cash Flow Hedge Derivative Instrument Assets at Fair Value	0		0
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	57,859,000		29,505,000
Fair Value, Inputs, Level 2 \| Equity Swap
Balance Sheet Caption
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value	172,000		1,074,000
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	0		0
Fair Value, Inputs, Level 2 \| Cross Currency Swap
Balance Sheet Caption
Cash Flow Hedge Derivative Instrument Assets at Fair Value	2,790,000		2,016,000
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	0		0
Liability [Member]
Schedule Of Derivative Instruments Gain Loss In Statement Of Financial Performance [Abstract]
Derivative Liability, Fair Value, Gross Liability	63,816,000		44,230,000
Assets [Member]
Balance Sheet Caption
Derivative Asset, Fair Value, Gross Asset	21,658,000		11,081,000
Cash Flow Hedging [Member] \| Interest Rate Swap Agreements
Derivatives, Fair Value [Line Items]
Notional amount of interest rate derivative instruments	750,000,000		750,000,000
Fair Value Hedging [Member] \| Interest Rate Swap Agreements
Derivatives, Fair Value [Line Items]
Notional amount of interest rate derivative instruments	$ 450,000,000		$ 450,000,000

NONCONTROLLING INTERESTS IN SUBSIDIARIES (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 05, 2015	Apr. 05, 2015	Dec. 31, 2014
Minority Interest [Line Items]
Noncontrolling interests in subsidiaries	$ 64,468
Reclassifications of Permanent to Temporary Equity	(13,428)
Noncontrolling interests' share of losses in subsidiaries	(32)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Noncontrolling Interest	(1,175)
Other Noncontrolling Interests		$ 0
Noncontrolling interests in subsidiaries	49,833
Redeemable noncontrolling interest	28,618
Redeemable Noncontrolling Interest, Equity, Carrying Amount		13,428
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest	(1,794)
Temporary Equity, Foreign Currency Translation Adjustments	(2,334)
Noncontrolling Interest, Change in Redemption Value	21,664
Temporary Equity, Other Changes	(2,346)
Redeemable noncontrolling interest	$ 28,618	$ 28,618	$ 0
Hershey Do Brasil Subsidiary [Member]
Minority Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent		51.00%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		49.00%
Lotte Shanghai Food Company [Member]
Minority Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent		50.00%

COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands	3 Months Ended
COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands	Apr. 05, 2015	Mar. 30, 2014	Dec. 31, 2014
Other comprehensive income (loss) Pre-Tax Amount:
Foreign currency translation adjustments	$ (27,718)	$ (468)
Pension and post-retirement benefit plans	8,662	5,710
Cash Flow Hedges:
Gains (losses) on cash flow hedging derivatives	(42,212)	32,443
Reclassification adjustments	(352)	(14,916)
Total other comprehensive income (loss)	(61,620)	22,769
Other comprehensive income Tax (Expense) Benefit:
Foreign currency translation adjustments	0	0
Pension and post-retirement benefit plans	(3,201)	(2,150)
Cash Flow Hedges:
Gains (losses) on cash flow hedging derivatives	16,120	(12,004)
Reclassification adjustments	(47)	5,677
Total Other Comprehensive Income (loss)	12,872	(8,477)
Comprehensive income (loss) After-Tax Amount:
Net income	244,737	252,495
Other Comprehensive Income (Loss) After-Tax Amount:
Foreign currency translation adjustments	(27,718)	(468)
Pension and postretirement benefit plans	5,461	3,560
Cash Flow Hedges:
Gains (losses) on cash flow hedging derivatives	(26,092)	20,439
Reclassification adjustments	(399)	(9,239)
Total other comprehensive income (loss)	(48,748)	14,292
Total comprehensive income	195,989	266,787
Comprehensive loss attributable to redeemable and noncontrolling interests	3,509	0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	199,498	$ 266,787
Components of Accumulated Other Comprehensive (Loss) Abstract
Foreign currency translation adjustments	(67,890)		$ (43,681)
Pension and post-retirement benefit plans, net of tax	(279,189)		(284,650)
Cash flow hedges, net of tax	(56,733)		(30,242)
Total accumulated other comprehensive loss	$ (403,812)		$ (358,573)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 05, 2015	Mar. 30, 2014
Schedule of Earnings Per Share Basic And Diluted By Common Class [Line Items]
Net Income	$ 244,737	$ 252,495
Weighted-average shares - Basic	220,644	224,213
Weighted-average number of shares outstanding, diluted	222,719	227,046
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,545	1,365
Common Stock
Schedule of Earnings Per Share Basic And Diluted By Common Class [Line Items]
Weighted-average shares - Basic	160,024	163,593
Earnings Per Share - Basic	$ 1.14	$ 1.16
Earnings Per Share - Diluted	$ 1.10	$ 1.11
Common Class B
Schedule of Earnings Per Share Basic And Diluted By Common Class [Line Items]
Weighted-average shares - Basic	60,620	60,620
Earnings Per Share - Basic	$ 1.04	$ 1.04
Earnings Per Share - Diluted	$ 1.03	$ 1.03
Employee Stock Option [Member]
Schedule of Earnings Per Share Basic And Diluted By Common Class [Line Items]
Weighted-Average Number Diluted Shares Outstanding Adjustment	1,687	2,337
Performance and restricted stock units
Schedule of Earnings Per Share Basic And Diluted By Common Class [Line Items]
Weighted-Average Number Diluted Shares Outstanding Adjustment	388	496

BUSINESS REALIGNMENT (Details) - USD ($) $ in Thousands	3 Months Ended
BUSINESS REALIGNMENT (Details) - USD ($) $ in Thousands	Apr. 05, 2015	Mar. 30, 2014
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	$ 4,934	$ 0
Gain (Loss) on Disposition of Business	2,667	0
Business realignment and impairment charges, net	2,667	2,925
Total business realignment charges	5,140	3,026
Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	1,348	101
Selling, General and Administrative Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	1,125	0
Next Century Program
Restructuring Cost and Reserve [Line Items]
Next Century Program - plant closure expenses	$ 0	$ 2,925

STOCK COMPENSATION PLANS (Details) - Stock Compensation Costs - USD ($) $ in Thousands	3 Months Ended
	Apr. 05, 2015	Mar. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Total compensation amount charged against income for stock options, performance stock units and restricted stock units	$ 13,889	$ 12,955
Total income tax benefit recognized in the Consolidated Statements of Income for stock-based compensation	4,861	$ 4,444
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	$ 97,406
Weighted Average Period In Years That Total Unrecognized Compensation Cost is Expected To be Recognized	2 years 4 months

STOCK COMPENSATION PLAN (Details) - Stock Options - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Apr. 05, 2015	Mar. 30, 2014	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning of period	7,319,377
Granted	1,256,775
Exercised	(750,569)
Forfeited	(50,953)
Outstanding as of end of period	7,774,630		7,319,377
Options exercisable as of end of period	4,444,877
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding at beginning of the period	$ 66.69
Granted	105.91
Exercised	52.81
Forfeited	91.69
Outstanding as of end of period	74.22		$ 66.69
Options Exercisable as of end of period	$ 58.61
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Aggregate intrinsic value of options outstanding	$ 220,730
Aggregate intrinsic value of options exercisable	$ 190,253
Weighted-average fair value of options granted (per share)	$ 19.31	$ 21.52
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Dividend yields	2.00%	2.00%
Expected volatility	20.80%	22.30%
Risk-free interest rates	1.90%	2.10%
Expected lives in years	6 years 8 months	6 years 8 months
Intrinsic value of options exercised	$ 39,606	$ 88,814
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	6 years 9 months		6 years 4 months
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	6 years 9 months		6 years 4 months
Options Exercisable as of end of period	5 years 5 months

STOCK COMPENSATION PLAN (Details) - Performance Stock Units and Restricted Stock Units - USD ($)	3 Months Ended
	Apr. 05, 2015	Mar. 30, 2014	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award
Outstanding at beginning of year	904,306
Granted	266,099	292,896
Performance assumption change	(159,026)
Vested	(356,305)
Forfeited	(7,923)
Outstanding as of end of period	647,151
Outstanding as of beginning of year	$ 94.48
Granted	109.35	$ 117.30
Performance assumption change	81.58
Vested	73.04
Forfeited	88.13
Outstanding as of end of period	$ 106.04
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number Excluded	23,622		25,462
Fair Value of Performance Stock Units and Restricted Stock Units [Abstract]
PSU Fair Value Monte Carlo Simulation Estimated Value (per unit)	$ 61.22	$ 80.95
PSU Fair Value Monte Carlo Simulation Dividend Yields	2.00%	1.80%
PSU Fair Value Monte Carlo Simulation Expected Volatility	14.90%	15.50%
Intrinsic value of share-based liabilities paid, combined with the fair value of shares vested	$ 37,464,000	$ 52,777,000
Deferred performance stock units, deferred restricted stock units representing directors' fees (units)	501,480
Performance Stock Units and Restricted Stock Units [Member]
Fair Value of Performance Stock Units and Restricted Stock Units [Abstract]
Number of shares of common stock into which another unit of deferred performance stock and restricted stock is converted	one

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Apr. 05, 2015	Mar. 30, 2014	Dec. 31, 2015
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 7,423	$ 6,885
Interest cost	11,305	12,225
Expected return on plan assets	(17,381)	(18,586)
Amortization of prior service (credit) cost	(291)	(167)
Amortization of net actuarial loss (gains)	8,072	5,738
Administrative expenses	232	177
Net periodic benefit cost	9,360	6,272
Pension Contributions	851	1,551
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	172	177
Interest cost	2,588	2,890
Expected return on plan assets	0	0
Amortization of prior service (credit) cost	153	154
Amortization of net actuarial loss (gains)	0	(26)
Administrative expenses	5	10
Net periodic benefit cost	2,918	3,205
Pension Contributions	$ 4,456	$ 5,140
Scenario, Forecast [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Voluntary Employer Contributions			$ 23,600

SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended
SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	Apr. 05, 2015	Mar. 30, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Net Sales	$ 1,937,800	$ 1,871,813
Operating Income (Loss)	532,546	545,320
Total Business Realignment And Impairment Charges	5,140	3,026
Non-service related pension expense (income)	1,996	(623)
Business Combination, Integration Related Costs	2,573	11,089
Gain on sale of trademark licensing rights, net of tax of	(9,950)	0
Income (Loss) from Continuing Operations before Interest Expense, Interest Income, Income Taxes, Extraordinary Items, Noncontrolling Interests, Net	394,006	403,606
Interest Income (Expense), Nonoperating, Net	19,202	21,285
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	374,804	382,321
Depreciation, Depletion and Amortization	$ 58,338	49,303
North America [Member]
Segment Reporting Information [Line Items]
Revenue, Net	85.00%
Net Sales	$ 1,706,995	1,659,047
Operating Income (Loss)	554,305	538,705
Depreciation, Depletion and Amortization	35,440	35,027
International and Other [Member]
Segment Reporting Information [Line Items]
Net Sales	230,805	212,766
Operating Income (Loss)	(21,759)	6,615
Depreciation, Depletion and Amortization	11,124	5,772
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	(138,781)	(128,222)
Depreciation, Depletion and Amortization	11,774	$ 8,504
Liability [Member]
Segment Reporting Information [Line Items]
Derivative Liability, Fair Value, Gross Liability	$ 63,816		$ 44,230

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Apr. 05, 2015	Mar. 30, 2014
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%
Effective Income Tax Rate Reconciliation, Percent	34.70%	34.00%
Reduction in liability for unrecognized tax benefits	$ 4,557

INVENTORIES (Details) - USD ($) $ in Thousands	Apr. 05, 2015	Dec. 31, 2014
Inventories Table
Raw materials	$ 345,622	$ 377,620
Goods in process	97,079	63,916
Finished goods	516,661	531,608
Inventories at FIFO	959,362	973,144
Adjustment to LIFO	(213,601)	(172,108)
Total inventories	$ 745,761	$ 801,036

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	Apr. 05, 2015	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Land	$ 95,828	$ 95,913
Buildings	1,030,747	1,031,050
Machinery and Equipment	2,870,518	2,863,559
Construction in Progress, Gross	358,152	338,085
Property, Plant and Equipment, Gross	4,355,245	4,328,607
Accumulated Depreciation	(2,206,030)	(2,176,706)
Property, Plant and Equipment, Net	$ 2,149,215	$ 2,151,901

TREASURY STOCK ACTIVITY (Details) $ in Thousands	3 Months Ended
TREASURY STOCK ACTIVITY (Details) $ in Thousands	Apr. 05, 2015 USD ($) shares
Cumulative Share Repurchases and Issuances Abstract
Shares repurchased in the open market under pre-approved share repurchase programs \| shares	1,644,328
Shares repurchased to replace Treasury Stock issued for stock options and incentive compensation \| shares	1,271,266
Total share repurchases \| shares	2,915,594
Shares issued for stock options and incentive compensation \| shares	(981,715)
Net Change \| shares	1,933,879
Value of shares repurchased in the open market under pre-approved share repurchase programs	$ 172,797
Value of shares repurchased to replace Treasury Stock issued for stock options and incentive compensation	133,876
Total Share Repurchases	306,673
Value of shares issued for stock options and incentive compensation	(40,849)
Net Change In Value	265,824
2014 Share Repurchase Program [Member]
Accelerated Share Repurchases [Line Items]
Approved share repurchase program	250,000
2015 Share Repurchase Program [Member]
Accelerated Share Repurchases [Line Items]
Available for repurchase under approved share repurchase program	250,000
Approved share repurchase program	$ 250,000

CONTINGENCIES (Details) $ in Millions	Jun. 21, 2013 USD ($)	Apr. 05, 2015
Canada [Member]
Loss Contingencies [Line Items]
Loss Contingency, Pending Claims, Number		13
Litigation Settlement, Amount	$ 4.0
US [Member]
Loss Contingencies [Line Items]
Loss Contingency, Pending Claims, Number		91