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Hershey Reports First-Quarter 2021 Financial Results; Raises 2021 Net Sales and Earnings Outlook


Appendix I
Details of the charges included in GAAP results, as summarized in the press release (above), are as follows:
Derivative Mark-to-Market (Gains) Losses:  The mark-to-market (gains) losses on commodity derivatives are recorded as unallocated and excluded from adjusted results until such time as the related inventory is sold, at which time the corresponding (gains) losses are reclassified from unallocated to segment income.  Since we often purchase commodity contracts to price inventory requirements in future years, we make this adjustment to facilitate the year-over-year comparison of cost of sales on a basis that matches the derivative gains and losses with the underlying economic exposure being hedged for the period. ....

United States , Scharffen Berger , Pension Settlement Charges Relating To Company , Pure Foods Inc , Hershey Company , Hershey International , Margin For Growth Program , International Optimization Program , Lotte Shanghai Foods Co Ltd , International Other , Michele Buck , Hershey Company President , Chief Executive , Year Financial , North America , Settlement Charges Relating , Pinterest Share , Business Realignment , All Adjustments Reflected , Consolidated Statements , Months Ended April , Realignment Activities , Growth Program , Related Activities , Lived Asset Impairment Charges , Impairment Charges ,