v3.25.2
SEGMENT INFORMATION (Tables)
 6 Months Ended
Jun. 29, 2025
Segment Reporting [Abstract]  
Schedule of Net Sales and Earnings by Segment
Our segment net sales and earnings for the three months ended June 29, 2025 and June 30, 2024 were as follows:
For the three months ended June 29, 2025
North America ConfectioneryNorth America Salty SnacksInternationalTotal
Net sales$2,085,468 $315,519 $213,731 $2,614,718 
Cost of sales1,274,772 194,534 148,412 
SM&A expense306,767 54,505 45,524 
Total segment income$503,929 $66,480 $19,795 $590,204 
Unallocated corporate expense (1)181,527 
Unallocated mark-to-market losses on commodity derivatives200,727 
Costs associated with business realignment activities (see Note 9)
15,139 
Operating profit$192,811 
Interest expense, net (see Note 4)
46,035 
Other (income) expense, net (see Note 17)
(2,336)
Income before income taxes$149,112 
For the three months ended June 30, 2024
North America ConfectioneryNorth America Salty SnacksInternationalTotal
Net sales$1,579,826 $289,894 $204,760 $2,074,480 
Cost of sales862,848 180,282 136,135 
SM&A expense252,482 57,408 43,615 
Total segment income$464,496 $52,204 $25,010 $541,710 
Unallocated corporate expense (1)161,518 
Unallocated mark-to-market losses on commodity derivatives53,371 
Costs associated with business realignment activities (see Note 9)
39,000 
Operating profit$287,821 
Interest expense, net (see Note 4)
41,373 
Other (income) expense, net (see Note 17)
574 
Income before income taxes$245,874 
(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.
Our segment net sales and earnings for the six months ended June 29, 2025 and June 30, 2024 were as follows:
For the six months ended June 29, 2025
North America ConfectioneryNorth America Salty SnacksInternationalTotal
Net sales$4,385,608 $593,317 $441,212 $5,420,137 
Cost of sales2,589,848 375,172 302,396 
SM&A expense595,457 109,812 90,295 
Total segment income$1,200,303 $108,333 $48,521 $1,357,157 
Unallocated corporate expense (1)341,952 
Unallocated mark-to-market losses on commodity derivatives412,181 
Costs associated with business realignment activities (see Note 9)
40,992 
Operating profit$562,032 
Interest expense, net (see Note 4)
90,657 
Other (income) expense, net (see Note 17)
(1,391)
Income before income taxes$472,766 
For the six months ended June 30, 2024
North America ConfectioneryNorth America Salty SnacksInternationalTotal
Net sales$4,287,136 $565,000 $475,093 $5,327,229 
Cost of sales2,291,239 364,028 316,067 
SM&A expense583,205 110,062 91,266 
Total segment income$1,412,692 $90,910 $67,760 $1,571,362 
Unallocated corporate expense (1)334,419 
Unallocated mark-to-market gains on commodity derivatives(164,644)
Costs associated with business realignment activities (see Note 9)
55,666 
Operating profit$1,345,921 
Interest expense, net (see Note 4)
81,195 
Other (income) expense, net (see Note 17)
32,594 
Income before income taxes$1,232,132 
(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 EndedSix Months Ended
June 29, 2025June 30, 2024June 29, 2025June 30, 2024
Net losses (gains) on mark-to-market valuation of commodity derivative positions recognized in income$31,545 $38,300 $85,402 $(159,464)
Net gains (losses) on commodity derivative positions reclassified from unallocated to segment income 169,182 15,071 326,779 (5,180)
Net losses (gains) on mark-to-market valuation of commodity derivative positions recognized in unallocated derivative (gains) losses$200,727 $53,371 $412,181 $(164,644)
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 EndedSix Months Ended
June 29, 2025June 30, 2024June 29, 2025June 30, 2024
North America Confectionery$72,787 $63,984 $142,560 $126,405 
North America Salty Snacks22,327 19,856 44,173 39,699 
International6,713 6,128 12,898 12,199 
Corporate22,006 20,453 43,766 39,882 
Total$123,833 $110,421 $243,397 $218,185 
Schedule of Segment Information by Geography
Additional information regarding our net sales disaggregated by geographical region is as follows:
Three Months EndedSix Months Ended
June 29, 2025June 30, 2024June 29, 2025June 30, 2024
Net sales:
United States$2,285,230 $1,778,467 $4,752,984 $4,632,899 
All other countries329,488 296,013 667,153 694,330 
Total$2,614,718 $2,074,480 $5,420,137 $5,327,229