好时 2024年度报告

FORM10-K ☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year endedDecember 31, 2024OR 23-0691590 Delaware (I.R.S. Employer Identification No.) 19 East Chocolate Avenue,Hershey,PA17033(Address of principal executive offices and Zip Code)(717)534-4200(Registrant’s telephone number, including area code)Securities registered pursuant to Section 12(b) of the Act: Name of each exchange on which registered New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act:Class B Common Stock, one dollar par value Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes☒No☐Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes☐No☒Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days.Yes☒No☐Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrantwas required to submit such files).Yes☒No☐Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reportingcompany” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Smaller reportingcompany If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.¨Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectivenessof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registeredpublic accounting firm that prepared or issued its audit report.☒If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.¨ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b).¨Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ As of June28, 2024 (the last business day of the registrant’s most recently completed second fiscal quarter), the aggregate market valueof the voting and non-voting common equity held by non-affiliates was $26,717,916,357. Class B Common Stock is not listed forpublic trading on any exchange or market system. However, Class B shares are convertible into shares of Common Stock at any time ona share-for-share basis. Determination of aggregate market value assumes all outstanding shares of Class B Common Stock held bynon-affiliates were converted to Common Stock as of June28, 2024. The market value indicated is calculated based on the closingprice of the Common Stock on the New York Stock Exchange on June28, 2024 ($183.83per share). Indicate the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date.Common Stock, one dollar par value—147,797,121shares, as of February10, 2025.Class B Common Stock, one dollar par value—54,613,514shares, as of February10, 2025. DOCUMENTS INCORPORATED BY REFERENCE Portions of the Company’s Proxy Statement for the 2025 Annual Meeting of Stockholders are incorporated by reference into Part III ofthis Annual Report on Form 10-K. THE HERSHEY COMPANYAnnual Report on Form 10-KFor the Fiscal Year EndedDecember31, 2024 TABLE OF CONTENTS PART IItem 1.Business2Item 1A.Risk Factors9Item 1B.Unresolved Staff Comments16Item 1C.Cybersecurity16Item 2.Properties18Item 3.Legal Proceedings18Item 4.Mine Safety Disclosures18Supplemental ItemInformation About Our Executive Officers19PART IIItem 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases ofEquity Securities20Item 6.[Reserved]21Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations22Item 7A.Quantitative and Qualitative Disclosures About Market Risk43Item 8.Financia