v3.26.3
PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS
 9 Months Ended
Sep. 27, 2026
Retirement Benefits [Abstract]  
PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS
Net Periodic Benefit Cost
The components of net periodic benefit cost for the three months ended September 27, 2026 and September 28, 2025 were as follows:
Pension BenefitsOther Benefits
Three Months EndedThree Months Ended
September 27, 2026September 28, 2025September 27, 2026September 28, 2025
Service cost$2,716$3,544$30$29
Interest cost8,280 9,253 1,252 1,235 
Expected return on plan assets(12,200)(12,029)— — 
Amortization of prior service credit(757)(888)(97)(96)
Amortization of net loss1,156 3,554 990 312 
Settlement loss2,758 10,597 — — 
Total net periodic benefit cost$1,953 $14,031 $2,175 $1,480 
We made contributions of $164 and $2,601 to our pension plans and other benefits plans, respectively, during the third quarter of 2026. In the third quarter of 2025, we made contributions of $254 and $3,181 to our pension plans and other benefit plans, respectively. The contributions in 2026 and 2025 also included benefit payments from our non-qualified pension plans and post-retirement benefit plans.
The components of net periodic benefit cost for the nine months ended September 27, 2026 and September 28, 2025 were as follows:  
Pension BenefitsOther Benefits
Nine Months EndedNine Months Ended
September 27, 2026September 28, 2025September 27, 2026September 28, 2025
Service cost$8,658$10,583$90$85
Interest cost24,282 27,722 3,763 3,695 
Expected return on plan assets(36,931)(36,086)— — 
Amortization of prior service credit(2,267)(2,667)(291)(288)
Amortization of net loss4,866 10,661 2,971 941 
Settlement loss8,641 10,597 — — 
Total net periodic benefit cost$7,249 $20,810 $6,533 $4,433 
We made contributions of $838 and $8,097 to our pension plans and other benefits plans, respectively, during the first nine months of 2026. In the first nine months of 2025, we made contributions of $1,366 and $8,612 to our pension plans and other benefit plans, respectively. The contributions in 2026 and 2025 also included benefit payments from our non-qualified pension plans and post-retirement benefit plans.
The non-service cost components of net periodic benefit cost relating to pension and other post-retirement benefit plans are reflected within other (income) expense, net in the Consolidated Statements of Income (see Note 17).
During the first nine months of 2026, we recognized pension settlement charges in The Hershey Retirement Plan for Salaried and Hourly Employees due to lump sum withdrawals by employees retiring or leaving the Company. The non-cash settlement charges, which represent the acceleration of a portion of the respective plan’s accumulated unrecognized actuarial loss, were triggered when the cumulative lump sum distributions exceeded the plan’s anticipated annual service and interest costs. In connection with the third quarter 2026 settlements, the related plan assets and liabilities were remeasured using a discount rate as of the remeasurement date that was 110 basis points higher than the rate as of December 31, 2025 and an expected rate of return on plan assets of 7.0%, which was consistent with the rate as of December 31, 2025.