See Exhibit A below showing analysis for Hershey Company MD&A portion of the Form 10-K.

Horizontal Analysis	12/31/17	12/31/16	Dollar Change	Percentage Change
Sales
Gross Profit

v

CONSOLIDATED RESULTS OF OPERATIONS Percent Change 2017 vs 2016 For the years ended December 3, In millions of dollars except per share amounts Net Sales Cost of Sales Gross Profit 2017 2016 2016 vs 2015 7,5154 4,070.9 3,444.5 7,440.2 S 4,282.3 3,157.9 7,386.6 4,003.9 3,382.7 0.7% 7.0 % (6.6)% (4.9)% Gross Margin SM&A Expense 45.8% 1,969.3 45.8% 1,913.4 1,915.4 (2.7)% 25.5% 25.7% 26.7% SM&A Expense as a percent of net sales Goodwill, Indefinite and Long-Lived Asset Impairment NM 468 % 5.7 % NM (65.7)% 16,2 % es 32.5 Business Realignment Costs Operating Profit 1,274.6 1,205.8 1,037.8 16.2% 90.2 Operating Profit Margin Interest Expense, Net Other (Income) Expense, Net Provision for Income Taxes 17.0% 14.0% 105.8 9.0 % ( 14,8)% (46.4)% 306.5 % 379.4 34.5% Effective Income Tax Rate Net Income Including Noncontrolling Interest Less: Net Loss Attributable to Noncontrolling Interest Net Income Attributable to The Hershey Company Net Income Per Share-Diluted 31,9% 43.1% 720.0 404 % NM 40,4 % 44.0 % 756.5 513,0 NM 783.0 $ 720.0 S 513.0 87 % 3.66$ 3.34 96 % Note: Percentage changes may not compute directly as shown due to rounding of amounts presented above. NM not meaningful. Net Sales 2017 compared with 2016 Net sales increased 1.0% in 2017 compared with 2016, reflecting favorable price realization of0.7%, a benefit fom acquisitions of0.3%, and a favorable impact from foreign curency exchange rates of0.2%, partially offset by a volume decrease of0.2%. Excluding foreign currency, our net sales increased 0.8% in 2017. The favorable net price realization was attributed to lower levels of trade promotional spending in both the North America and International and Other segments versus the prior year. Consolidated volume decreased as a result of lower sales volume in the Intemational and Other segment, primarily attributed to our China business and the softness in the modem trade channel coupled with a focus on optimizing our product offerings. These volume decreases were partially offset by higher sales volume in North America, specifically from 2017 innovation and new launches, including Hershey's Cookie Layer Crunch, Hershey's Gold and Hershey's and Reese's Popped Snack Mix and Chocolate Dipped Pretzels