EXHIBIT 12.1

THE HERSHEY COMPANY

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

For the Years Ended December 31, 2011, 2010, 2009, 2008 and 2007

(in thousands of dollars except for ratios)

(Unaudited)

	2011			2010			2009			2008			2007
Earnings:
Income from continuing operations before income taxes	$	962,845	(a)	$	808,864	(b)	$	671,131	(c)	$	492,022	(d)	$	340,242	(e)
Add (Deduct):
Interest on indebtedness		94,780			97,704			91,336			99,678			121,066
Portion of rents representative of the interest factor (f)		7,734			7,472			8,294			9,372			8,147
Amortization of debt expense		1,149			1,139			970			922			756
Amortization of capitalized interest		1,835			1,478			1,354			1,637			2,392
Adjustment to exclude minority interest and income or loss from equity investees		(5,817	)		(8,183	)		(5,614	)		(3,465	)		(503	)
Earnings as adjusted	$	1,062,526		$	908,474		$	767,471		$	600,166		$	472,100
Fixed Charges:
Interest on indebtedness	$	94,780		$	97,704		$	91,336		$	99,678		$	121,066
Portion of rents representative of the interest factor (f)		7,734			7,472			8,294			9,372			8,147
Amortization of debt expense		1,149			1,139			970			922			756
Capitalized interest		7,814			2,116			2,640			5,779			2,770
Total fixed charges	$	111,477		$	108,431		$	103,240		$	115,751		$	132,739
Ratio of earnings to fixed charges		9.53			8.38			7.43			5.18			3.56

NOTES:

(a) Includes total business realignment and impairment charges of $49.2 million and a gain on sale of trademark licensing rights of $17.0 million before tax.

(b) Includes total business realignment and impairment charges of $98.6 million before tax.

(c) Includes total business realignment and impairment charges of $99.1 million before tax.

(d) Includes total business realignment and impairment charges of $180.7 million before tax.

(e) Includes total business realignment and impairment charges of $412.6 million before tax.

(f) Portion of rents representative of the interest factor consists of one-third of rental expense for operating leases.