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SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2024

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
						June 30, 2024						July 2, 2023						June 30, 2024						July 2, 2023
Net sales:
North America Confectionery						$	1,579,826					$	1,993,079					$	4,287,136					$	4,445,244
North America Salty Snacks						289,894						272,365						565,000						542,350
International						204,760						224,836						475,093						490,300
Total						$	2,074,480					$	2,490,280					$	5,327,229					$	5,477,894
Segment income:
North America Confectionery						$	464,496					$	657,178					$	1,412,692					$	1,544,928
North America Salty Snacks						52,204						43,753						90,910						90,545
International						25,010						41,101						67,760						96,150
Total segment income						541,710						742,032						1,571,362						1,731,623
Unallocated corporate expense (1)						161,518						186,630						334,419						363,704
Unallocated mark-to-market losses (gains) on commodity derivatives						53,371						(6,780)						(164,644)						3,464
Costs associated with business realignment activities (see Note 9)						39,000						1,517						55,666						3,866
Operating profit						287,821						560,665						1,345,921						1,360,589
Interest expense, net (see Note 4)						41,373						36,661						81,195						74,346
Other (income) expense, net (see Note 17)						574						84,484						32,594						87,467
Income before income taxes						$	245,874					$	439,520					$	1,232,132					$	1,198,776

(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 and integration-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
						June 30, 2024						July 2, 2023						June 30, 2024						July 2, 2023
Net losses (gains) on mark-to-market valuation of commodity derivative positions recognized in income						$	38,300					$	6,437					$	(159,464)					$	17,051
Net gains (losses) on commodity derivative positions reclassified from unallocated to segment income						15,071						(13,217)						(5,180)						(13,587)
Net losses (gains) on mark-to-market valuation of commodity derivative positions recognized in unallocated derivative (gains) losses						$	53,371					$	(6,780)					$	(164,644)					$	3,464

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
						June 30, 2024						July 2, 2023						June 30, 2024						July 2, 2023
North America Confectionery						$	63,984					$	59,961					$	126,405					$	116,683
North America Salty Snacks						19,856						18,263						39,699						35,843
International						6,128						5,620						12,199						11,678
Corporate						20,453						17,744						39,882						35,583
Total						$	110,421					$	101,588					$	218,185					$	199,787

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
						June 30, 2024						July 2, 2023						June 30, 2024						July 2, 2023
Net sales:
United States						$	1,778,467					$	2,158,439					$	4,632,899					$	4,776,362
All other countries						296,013						331,841						694,330						701,532
Total						$	2,074,480					$	2,490,280					$	5,327,229					$	5,477,894

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