v3.23.3
SEGMENT INFORMATION (Tables)
9 Months Ended
Oct. 01, 2023
Segment Reporting [Abstract]  
Schedule of Net Sales and Earnings by Segment
Our segment net sales and earnings were as follows:
Three Months EndedNine Months Ended
October 1, 2023October 2, 2022October 1, 2023October 2, 2022
Net sales:
North America Confectionery$2,457,647 $2,235,550 $6,902,891 $6,361,695 
North America Salty Snacks345,182275,024887,532757,443
International227,158217,579717,458647,818
Total$3,029,987 $2,728,153 $8,507,881 $7,766,956 
Segment income:
North America Confectionery$847,469$706,815$2,392,397$2,107,564
North America Salty Snacks57,389 44,516 147,934 103,250 
International31,688 35,379 127,838 108,058 
Total segment income936,546786,7102,668,1692,318,872
Unallocated corporate expense (1)199,270179,632562,974518,834
Unallocated mark-to-market losses on commodity derivatives1,75350,0655,21763,524
(Benefits) costs associated with business realignment activities (see Note 9)
(426)393 3,440 2,373 
Operating profit735,949556,6202,096,5381,734,141
Interest expense, net (see Note 4)
39,755 35,378 114,101 101,970 
Other (income) expense, net (see Note 17)
42,78148,157130,24878,222
Income before income taxes$653,413 $473,085 $1,852,189 $1,553,949 
(1)Includes centrally-managed (a) corporate functional costs relating to legal, treasury, finance, and human resources, (b) expenses associated with the oversight and administration of our global operations, including warehousing, distribution and manufacturing, information systems and global shared services, (c) non-cash stock-based compensation expense, (d) acquisition-related costs, and (e) other gains or losses that are not integral to segment performance.
Schedule of Unallocated Mark-to-Market (Gains) Losses on Commodity Derivatives Activity within the unallocated mark-to-market adjustment for commodity derivatives is as follows:
Three Months EndedNine Months Ended
October 1, 2023October 2, 2022October 1, 2023October 2, 2022
Net (gains) losses on mark-to-market valuation of commodity derivative positions recognized in income$(17,103)$14,044 $(52)$(28,027)
Net gains on commodity derivative positions reclassified from unallocated to segment income 18,856 36,021 5,269 91,551 
Net losses on mark-to-market valuation of commodity derivative positions recognized in unallocated derivative (gains) losses$1,753 $50,065 $5,217 $63,524 
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 EndedNine Months Ended
October 1, 2023October 2, 2022October 1, 2023October 2, 2022
North America Confectionery$59,921 $56,678 $176,604 $170,025 
North America Salty Snacks19,779 17,444 55,622 51,106 
International5,919 5,929 17,597 17,510 
Corporate17,690 14,149 53,273 40,441 
Total$103,309 $94,200 $303,096 $279,082 
Schedule of Segment Information by Geography
Additional information regarding our net sales disaggregated by geographical region is as follows:
Three Months EndedNine Months Ended
October 1, 2023October 2, 2022October 1, 2023October 2, 2022
Net sales:
United States$2,683,348 $2,392,590 $7,459,710 $6,793,283 
All other countries346,639 335,563 1,048,171 973,673 
Total$3,029,987 $2,728,153 $8,507,881 $7,766,956