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SEGMENT INFORMATION (Tables)

6 Months Ended

Jul. 02, 2023

Segment Reporting [Abstract]

Schedule of Net Sales and Earnings by Segment

Our segment net sales and earnings were as follows:

						Three Months Ended												Six Months Ended
						July 2, 2023						July 3, 2022						July 2, 2023						July 3, 2022
Net sales:
North America Confectionery						$	1,993,079					$	1,909,101					$	4,445,244					$	4,126,145
North America Salty Snacks						272,365						256,297						542,350						482,419
International						224,836						207,184						490,300						430,239
Total						$	2,490,280					$	2,372,582					$	5,477,894					$	5,038,803
Segment income:
North America Confectionery						$	657,178					$	618,864					$	1,544,928					$	1,400,749
North America Salty Snacks						43,753						37,433						90,545						58,734
International						41,101						30,700						96,150						72,679
Total segment income						742,032						686,997						1,731,623						1,532,162
Unallocated corporate expense (1)						186,630						188,929						363,704						339,202
Unallocated mark-to-market losses (gains) on commodity derivatives						(6,780)						40,838						3,464						13,459
Costs associated with business realignment activities (see Note 9)						1,517						699						3,866						1,980
Operating profit						560,665						456,531						1,360,589						1,177,521
Interest expense, net (see Note 4)						36,661						33,413						74,346						66,592
Other (income) expense, net (see Note 17)						84,484						19,658						87,467						30,065
Income before income taxes						$	439,520					$	403,460					$	1,198,776					$	1,080,864

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

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

Activity within the unallocated mark-to-market adjustment for commodity derivatives is as follows:

						Three Months Ended												Six Months Ended
						July 2, 2023						July 3, 2022						July 2, 2023						July 3, 2022
Net losses (gains) on mark-to-market valuation of commodity derivative positions recognized in income						$	6,437					$	8,754					$	17,051					$	(42,071)
Net (losses) gains on commodity derivative positions reclassified from unallocated to segment income						(13,217)						32,084						(13,587)						55,530
Net (gains) losses on mark-to-market valuation of commodity derivative positions recognized in unallocated derivative (gains) losses						$	(6,780)					$	40,838					$	3,464					$	13,459

Schedule of Depreciation and Amortization Expense Included within Segment Income

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

						Three Months Ended												Six Months Ended
						July 2, 2023						July 3, 2022						July 2, 2023						July 3, 2022
North America Confectionery						$	59,961					$	57,439					$	116,683					$	113,347
North America Salty Snacks						18,263						16,983						35,843						33,662
International						5,620						5,921						11,678						11,581
Corporate						17,744						13,503						35,583						26,292
Total						$	101,588					$	93,846					$	199,787					$	184,882

Schedule of Segment Information by Geography

Additional information regarding our net sales disaggregated by geographical region is as follows:

						Three Months Ended												Six Months Ended
						July 2, 2023						July 3, 2022						July 2, 2023						July 3, 2022
Net sales:
United States						$	2,158,439					$	2,060,047					$	4,776,362					$	4,400,693
All other countries						331,841						312,535						701,532						638,110
Total						$	2,490,280					$	2,372,582					$	5,477,894					$	5,038,803

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