0000046080-23-000042 | 10-Q | XBRL Viewer

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Cover - shares	3 Months Ended
Cover - shares	Apr. 02, 2023	Apr. 27, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 02, 2023
Document Transition Report	false
Entity File Number	1-6682
Entity Registrant Name	HASBRO, INC.
Entity Incorporation, State or Country Code	RI
Entity Tax Identification Number	05-0155090
Entity Address, Address Line One	1027 Newport Avenue
Entity Address, City or Town	Pawtucket,
Entity Address, State or Province	RI
Entity Address, Postal Zip Code	02861
City Area Code	401
Local Phone Number	431-8697
Title of 12(b) Security	Common Stock, $0.50 par value per share
Trading Symbol	HAS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		138,608,781
Entity Central Index Key	0000046080
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets - USD ($) $ in Millions	Apr. 02, 2023	Dec. 25, 2022	Mar. 27, 2022
Current assets
Cash and cash equivalents including restricted cash of $13.4 million, $38.8 million and $14.5 million	$ 386.2	$ 513.1	$ 1,057.9
Accounts receivable, less allowance for doubtful accounts of $21.7 million, $24.1 million and $20.0 million	685.2	1,132.4	931.7
Inventories	713.4	676.8	644.3
Prepaid expenses and other current assets	754.4	676.8	621.4
Total current assets	2,539.2	2,999.1	3,255.3
Property, plant and equipment, less accumulated depreciation of $637.8 million, $641.5 million and $654.5 million	509.1	422.8	422.6
Other assets
Goodwill	3,470.1	3,470.1	3,419.3
Other intangible assets, net of accumulated amortization of $1,165.3 million, $1,075.2 million and $1,137.2 million	801.0	814.6	1,136.6
Other	1,604.3	1,589.3	1,284.9
Total other assets	5,875.4	5,874.0	5,840.8
Total assets	8,923.7	9,295.9	9,518.7
Current liabilities
Short-term borrowings	134.5	142.4	104.1
Current portion of long-term debt	109.0	113.2	155.8
Accounts payable	360.1	427.3	411.7
Accrued liabilities	1,293.8	1,506.8	1,371.4
Total current liabilities	1,897.4	2,189.7	2,043.0
Long-term debt	3,682.4	3,711.2	3,737.9
Other liabilities	585.2	533.1	633.6
Total liabilities	6,165.0	6,434.0	6,414.5
Redeemable noncontrolling interests	0.0	0.0	23.5
Shareholders' equity
Preference stock of $2.50 par value. Authorized 5,000,000 shares; none issued	0.0	0.0	0.0
Common stock of $0.50 par value. Authorized 600,000,000 shares; issued 220,286,736 shares at April 2, 2023, March 27, 2022, and December 25, 2022	110.1	110.1	110.1
Additional paid-in capital	2,535.7	2,540.6	2,475.7
Retained earnings	3,951.8	4,071.4	4,220.9
Accumulated other comprehensive loss	(237.4)	(254.9)	(246.9)
Treasury stock, at cost; 81,687,608 shares at April 2, 2023; 80,844,603 shares at March 27, 2022; and 82,106,383 shares at December 25, 2022	(3,629.4)	(3,634.4)	(3,513.8)
Noncontrolling interests	27.9	29.1	34.7
Total shareholders' equity	2,758.7	2,861.9	3,080.7
Total liabilities, noncontrolling interests and shareholders' equity	$ 8,923.7	$ 9,295.9	$ 9,518.7

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Apr. 02, 2023	Dec. 25, 2022	Mar. 27, 2022
Statement of Financial Position [Abstract]
Restricted cash	$ 13.4	$ 14.5	$ 38.8
Accounts receivable, allowance for doubtful accounts	21.7	20.0	24.1
Property, plant and equipment, accumulated depreciation	637.8	654.5	641.5
Other intangibles, accumulated amortization	$ 1,165.3	$ 1,137.2	$ 1,075.2
Preference stock, par value (in dollars per share)	$ 2.50	$ 2.50	$ 2.50
Preference stock, authorized (in shares)	5,000,000	5,000,000	5,000,000
Preference stock, issued (in shares)	0	0	0
Common stock, par value (in dollars per share)	$ 0.50	$ 0.50	$ 0.50
Common stock, authorized (in shares)	600,000,000	600,000,000	600,000,000
Common stock, issued (in shares)	220,286,736	220,286,736	220,286,736
Treasury stock (in shares)	81,687,608	82,106,383	80,844,603

Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Mar. 27, 2022
Income Statement [Abstract]
Net revenues	$ 1,001.0	$ 1,163.1
Costs and expenses:
Cost of sales	285.3	333.1
Program cost amortization	122.5	138.5
Royalties	69.0	90.1
Product development	83.3	69.6
Advertising	82.8	77.6
Amortization of intangibles	23.1	27.1
Selling, distribution and administration	317.1	307.1
Total costs and expenses	983.1	1,043.1
Operating profit	17.9	120.0
Non-operating expense (income):
Interest expense	46.3	41.6
Interest income	(6.0)	(2.1)
Other (income) expense, net	(1.4)	0.3
Total non-operating expense, net	38.9	39.8
Earnings (loss) before income taxes	(21.0)	80.2
Income tax expense	0.7	17.3
Net earnings (loss)	(21.7)	62.9
Net earnings attributable to noncontrolling interests	0.4	1.7
Net earnings (loss) attributable to Hasbro, Inc.	$ (22.1)	$ 61.2
Net earnings (loss) per common share:
Basic (in dollars per share)	$ (0.16)	$ 0.44
Diluted (in dollars per share)	(0.16)	0.44
Cash dividends declared per common share (in dollars per share)	$ 0.70	$ 0.70

Consolidated Statements of Comprehensive Earnings (Loss) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Mar. 27, 2022
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ (21.7)	$ 62.9
Other comprehensive earnings (loss):
Foreign currency translation adjustments, net of tax	24.3	(10.7)
Unrealized holding gains on available-for-sale securities, net of tax	0.0	0.2
Net losses on cash flow hedging activities, net of tax	(4.6)	(1.2)
Reclassifications to earnings, net of tax:
Net gains on cash flow hedging activities	(2.1)	0.0
Amortization of unrecognized pension and postretirement amounts	(0.1)	0.1
Total other comprehensive earnings (loss), net of tax	17.5	(11.6)
Total comprehensive earnings attributable to noncontrolling interests	0.4	1.7
Total comprehensive earnings (loss) attributable to Hasbro, Inc.	$ (4.6)	$ 49.6

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Mar. 27, 2022
Cash flows from operating activities:
Net earnings (loss)	$ (21.7)	$ 62.9
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Depreciation of plant and equipment	23.9	25.1
Amortization of intangibles	23.1	27.1
Program cost amortization	122.5	138.5
Deferred income taxes	(2.8)	(33.4)
Stock-based compensation	15.7	18.1
Other non-cash items	(0.5)	3.9
Change in operating assets and liabilities net of acquired balances:
Decrease in accounts receivable	454.6	559.8
Increase in inventories	(32.5)	(99.6)
(Increase) decrease in prepaid expenses and other current assets	(75.4)	42.1
Program spend, net	(266.3)	(169.4)
Decrease in accounts payable and accrued liabilities	(167.0)	(464.4)
Other	15.2	24.0
Net cash provided by operating activities	88.8	134.7
Cash flows from investing activities:
Additions to property, plant and equipment	(53.2)	(29.2)
Other	(2.4)	5.3
Net cash utilized by investing activities	(55.6)	(23.9)
Cash flows from financing activities:
Proceeds from borrowings with maturity greater than three months	1.2	1.3
Repayments of borrowings with maturity greater than three months	(35.5)	(133.9)
Net (repayments) proceeds from other short-term borrowings	(7.7)	103.3
Stock-based compensation transactions	0.0	70.2
Dividends paid	(96.7)	(94.5)
Payments related to tax withholding for share-based compensation	(14.0)	(19.3)
Other	(3.9)	(4.6)
Net cash utilized by financing activities	(156.6)	(77.5)
Effect of exchange rate changes on cash	(3.5)	5.4
Net (decrease) increase in cash, cash equivalents and restricted cash	(126.9)	38.7
Cash, cash equivalents and restricted cash at beginning of year	513.1	1,019.2
Cash, cash equivalents and restricted cash at end of period	386.2	1,057.9
Cash paid during the period for:
Interest	34.3	30.5
Income taxes	$ 26.0	$ 29.2

Consolidated Statements of Shareholder's Equity and Redeemable Noncontrolling Interests - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock	Noncontrolling Interests
Beginning balance at Dec. 26, 2021	$ 3,063.1	$ 110.1	$ 2,428.0	$ 4,257.8	$ (235.3)	$ (3,534.7)	$ 37.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (Loss) earnings attributable to Hasbro, Inc.	61.2			61.2
Net earnings attributable to noncontrolling interests	1.2						1.2
Change in put option value	(0.4)		(0.4)
Other comprehensive earnings (loss)	(11.6)				(11.6)
Stock-based compensation transactions	50.9		30.0			20.9
Stock-based compensation expense	18.1		18.1			0.0
Dividends declared	(98.1)			(98.1)
Distributions paid to noncontrolling owners and other foreign exchange	(3.7)						(3.7)
Ending balance at Mar. 27, 2022	3,080.7	110.1	2,475.7	4,220.9	(246.9)	(3,513.8)	34.7
Beginning balance at Dec. 26, 2021	23.9
Increase (Decrease) in Temporary Equity [Roll Forward]
Net (Loss) earnings attributable to Hasbro, Inc.	0.5
Distributions paid to noncontrolling owners and other foreign exchange	(0.9)
Ending balance at Mar. 27, 2022	23.5
Beginning balance at Dec. 25, 2022	2,861.9	110.1	2,540.6	4,071.4	(254.9)	(3,634.4)	29.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (Loss) earnings attributable to Hasbro, Inc.	(22.1)			(22.1)
Net earnings attributable to noncontrolling interests	0.4						0.4
Other comprehensive earnings (loss)	17.5				17.5
Stock-based compensation transactions	(14.0)		(19.0)			5.0
Stock-based compensation expense	15.7		15.7
Dividends declared	(97.0)		0.5	(97.5)
Distributions paid to noncontrolling owners and other foreign exchange	(1.6)						(1.6)
Buyout of redeemable noncontrolling interest	(2.1)		(2.1)
Ending balance at Apr. 02, 2023	2,758.7	$ 110.1	$ 2,535.7	$ 3,951.8	$ (237.4)	$ (3,629.4)	$ 27.9
Beginning balance at Dec. 25, 2022	0.0
Ending balance at Apr. 02, 2023	$ 0.0

Basis of Presentation	3 Months Ended
Basis of Presentation	Apr. 02, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation In the opinion of management, the accompanying unaudited interim consolidated financial statements contain all normal and recurring adjustments necessary to present fairly the consolidated financial position of Hasbro, Inc. and all majority-owned subsidiaries ("Hasbro" or the "Company") as of April 2, 2023 and March 27, 2022, and the results of its operations and cash flows and shareholders' equity for the periods then ended in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and notes thereto. Actual results could differ from those estimates. The quarters ended April 2, 2023 and March 27, 2022 were 14-week and 13-week periods, respectively. The results of operations for the quarter ended April 2, 2023 are not necessarily indicative of results to be expected for the full year 2023, nor were those of the comparable 2022 period representative of those actually experienced for the full year 2022. Significant Accounting Policies The Company's significant accounting policies are summarized in note 1 to the consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 25, 2022 ("2022 Form 10-K"). Blueprint 2.0 and Operational Excellence On October 4, 2022, following a several months long strategic review of our business led by our CEO, the Company announced a go-forward strategic plan guided by our new Blueprint 2.0, a consumer-centric framework for bringing compelling and expansive brand experiences to audiences around the world. During the review, the Company identified opportunities to focus and scale its business, enhance operational excellence, including through specialized organizational programs and supply chain transformation, to drive growth and profit and enhance shareholder value. The Company is increasing strategic investment in its most valuable and profitable franchises across toys, games, entertainment and licensing, and exiting certain non-core aspects of the business. TV and Film Business On November 17, 2022, the Company announced an authorization by Hasbro's Board of Directors to initiate a marketing process to explore a sale of parts of our eOne TV and film business that do not directly support the Company’s Branded Entertainment strategy. In the event a transaction were to occur, Hasbro is expected to maintain the capability to develop and produce animation, digital shorts, scripted TV and theatrical films for audiences related to core Hasbro IP. The family brands business, including the brands PEPPA PIG and PJ MASKS, is not expected to be part of any sale transaction involving parts of the eOne film and television business. The sale process was ongoing as of the close of the first quarter of 2023 however, there can be no assurance that the process will result in a sale. Brand Portfolio Realignment Effective for the first quarter 2023, we realigned our brand portfolios to correspond with the evolution of our Blueprint 2.0 strategy. We are focusing on fewer, bigger, more profitable brands that showcase our leadership in preschool toys, action figures and accessories, games, arts & crafts, and outdoor action brands. Our new product categories beginning in the first quarter of 2023 are as follows: Franchise Brands - A refreshed group of our most financially significant brands which we consider to have the greatest long-term potential including DUNGEONS & DRAGONS, Hasbro Gaming, MAGIC: THE GATHERING, NERF, PEPPA PIG, PLAY-DOH, and TRANSFORMERS. Partner Brands - The Partner Brands category includes those brands we license from other parties such as Disney's STAR WARS and MARVEL brands as well as other partners, for which we develop toy and game products, with a focus on those key Partner Brands that give us the biggest growth potential and where we can lead and innovate in the category. Portfolio Brands - Our Portfolio Brands category includes those brands we own or control which we feel have upside in revenue and profitability that have not yet grown to the significance of a franchise brand. Non-Hasbro Branded Film & TV - The Non-Hasbro Branded Film & TV category includes non-Hasbro-branded film, TV and other entertainment related revenues. All Hasbro-branded content is included in the portfolios noted above. These consolidated financial statements have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). Certain information and disclosures normally included in the consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. The Company filed with the SEC audited consolidated financial statements for the fiscal year ended December 25, 2022 in its 2022 Form 10-K, which includes all such information and disclosures and, accordingly, should be read in conjunction with the financial information included herein. Recently Adopted Accounting Standards As of April 2, 2023, there were no recently adopted accounting standards that had a material effect on the Company’s financial statements. Issued Accounting Pronouncements As of April 2, 2023, there were no recently issued accounting pronouncements that had a material effect on the Company’s financial statements.

Revenue Recognition

3 Months Ended

Apr. 02, 2023

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Contract Assets and Liabilities

In the ordinary course of business, the Company’s Consumer Products, Wizards of the Coast and Digital Gaming and Entertainment segments enter into contracts to license certain of the Company’s intellectual property, providing licensees right-to-use or access to such intellectual property for use in the production and sale of consumer products and digital game development, and for use within content for distribution over streaming platforms and for television and film. The Company also licenses owned television and film content for distribution to third parties in formats that include broadcast, digital streaming and theatrical. Through these arrangements, the Company may receive advanced royalty payments from licensees, either in advance of a licensees’ subsequent sales to customers or, prior to the completion of the Company’s performance obligation. In addition, the Company’s Wizards of the Coast and Digital Gaming segment may receive advanced payments from end users of its digital games at the time of the initial purchase or through in-application purchases. These digital gaming revenues are recognized over a period of time, determined based on player usage patterns or the estimated playing life of the user or when additional downloadable content is made available. The Company defers revenues on all licensee and digital gaming advanced payments until the respective performance obligations are satisfied. The Company records the aggregate deferred revenues as contract liabilities, with the current portion recorded within Accrued Liabilities and the long-term portion recorded as Other Non-current Liabilities in the Company’s consolidated balance sheets. The Company records contract assets, primarily related to (1) minimum guarantees being recognized in advance of contractual invoicing, which are recognized ratably over the terms of the respective license periods, and (2) film and television distribution revenues recorded for content delivered, where payment will occur over the license term. The current portion of contract assets is recorded in Prepaid Expenses and Other Current Assets, respectively, and the long-term portion is recorded within Other Long-Term Assets.

The changes in carrying amounts of contract assets and liabilities for the quarter ended April 2, 2023 are as follows:


	April 2, 2023
Assets
Balance at beginning of the year	$	594.4
Recognized in current year	213.8
Amounts reclassified to accounts receivable	(218.7)
Foreign currency impact	7.7
Ending Balance	$	597.2

Liabilities
Balance at beginning of the year	$	113.0
Recognized in current year	80.3
Amounts in beginning balance reclassified to revenue	(53.3)
Current year amounts reclassified to revenue	(22.5)

Foreign currency impact	(2.2)
Ending Balance	$	115.3

Unsatisfied performance obligations

Unsatisfied performance obligations relate primarily to in-production television content to be delivered in the future under existing agreements with partnering content providers such as broadcasters, distributors, television networks and subscription video on demand services. As of April 2, 2023, unrecognized revenue attributable to unsatisfied performance obligations expected to be recognized in the future was $293.8 million. Of this amount, we expect to recognize $244.4 million in the remainder of 2023, $38.0 million in 2024, $11.3 million in 2025 and $0.1 million in 2026. These amounts include only fixed consideration.

Accounts Receivable and Allowance for Credit Losses

The Company’s balance for accounts receivable on the consolidated balance sheets as of April 2, 2023 and March 27, 2022 are primarily from contracts with customers. The Company had no material expense for credit losses for the quarters ended April 2, 2023 and March 27, 2022.

Disaggregation of revenues

The Company disaggregates its revenues from contracts with customers by reportable segment: Consumer Products, Wizards of the Coast and Digital Gaming, and Entertainment. The Company further disaggregates revenues within its Consumer Products segment by major geographic region: North America, Europe, Latin America, and Asia Pacific; within its Wizards of the Coast and Digital Gaming segment by category: Tabletop Gaming and Digital and Licensed Gaming; and within its Entertainment segment by category: Film & TV, Family Brands, and Other. Finally, the Company disaggregates its revenues by brand portfolio into four brand categories: Franchise Brands, Partner Brands, Portfolio Brands, and Non-Hasbro Branded Film & TV. We believe these collectively depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. See note 13 for further information.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 13
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 606
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-Paragraph 15
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Earnings (Loss) Per Share

3 Months Ended

Apr. 02, 2023

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

Net earnings (loss) per share data for the quarters ended April 2, 2023 and March 27, 2022 were computed as follows:


	2023			2022
Quarter	Basic		Diluted	Basic		Diluted
Net (loss) earnings attributable to Hasbro, Inc.	$	(22.1)	(22.1)	$	61.2	61.2

Average shares outstanding	138.6		138.6	139.3		139.3
Effect of dilutive securities:
Options and other share-based awards	—		—	—		0.3
Equivalent Shares	138.6		138.6	139.3		139.6

Net (loss) earnings attributable to Hasbro, Inc. per common share	$	(0.16)	(0.16)	$	0.44	0.44

For the quarters ended April 2, 2023 and March 27, 2022, options and restricted stock units totaling 4.2 million and 2.5 million, respectively, were excluded from the calculation of diluted earnings per share because to include them would have been anti-dilutive. Of the fiscal 2023 amount, 2.0 million shares would have been included in the calculation of diluted shares had the Company not had a net loss for the quarter ended April 2, 2023. Assuming that these options and restricted stock units were included, under the treasury stock method, they would have resulted in an additional 0.1 million shares being included in the diluted earnings per share calculation for the quarter ended April 2, 2023.

Goodwill

3 Months Ended

Apr. 02, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Changes in the carrying amount of goodwill, by operating segment, for the quarters ended April 2, 2023 and March 27, 2022 are as follows:


	Consumer Products		Wizards of the Coast and Digital Gaming	Entertainment	Total
2023
Balance at December 25, 2022	$	1,584.7	371.5	1,513.9	$	3,470.1




Balance at April 2, 2023	$	1,584.7	371.5	1,513.9	$	3,470.1


	Consumer Products		Wizards of the Coast and Digital Gaming	Entertainment	Total
2022
Balance at December 26, 2021	$	1,584.9	307.3	1,527.4	$	3,419.6
Foreign exchange translation	(0.1)		0.2	(0.4)	(0.3)
Balance at March 27, 2022	$	1,584.8	307.5	1,527.0	$	3,419.3

Other Comprehensive Earnings (Loss)

3 Months Ended

Apr. 02, 2023

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Other Comprehensive Earnings (Loss)

Components of other comprehensive earnings (loss) are presented within the consolidated statements of comprehensive earnings (loss). The following table presents the related tax effects on changes in other comprehensive earnings (loss) for the quarters ended April 2, 2023 and March 27, 2022.


	Quarter Ended
	April 2, 2023		March 27, 2022

Other comprehensive earnings (loss), tax effect:
Tax expense on unrealized holding gains	$	—	$	(0.1)
Tax benefit on cash flow hedging activities	1.2		0.9


Reclassifications to earnings, tax effect:
Tax expense (benefit) on cash flow hedging activities	0.1		(0.2)



Total tax effect on other comprehensive earnings	$	1.3	$	0.6

Changes in the components of accumulated other comprehensive earnings (loss), net of tax for the quarters ended April 2, 2023 and March 27, 2022 are as follows:


	Pension and Postretirement Amounts		Gains (Losses) on Derivative Instruments	Unrealized Holding Gains (Losses) on Available- for-Sale Securities	Foreign Currency Translation Adjustments	Total Accumulated Other Comprehensive Loss
2023
Balance at December 25, 2022	$	(3.0)	(12.0)	(0.1)	(239.8)	$	(254.9)
Current period other comprehensive earnings (loss)	(0.1)		(6.7)	—	24.3	17.5
Balance at April 2, 2023	$	(3.1)	(18.7)	(0.1)	(215.5)	$	(237.4)

2022
Balance at December 26, 2021	$	(35.1)	(6.0)	0.2	(194.4)	$	(235.3)

Current period other comprehensive earnings (loss)	0.1		(1.2)	0.2	(10.7)	(11.6)
Balance at March 27, 2022	$	(35.0)	(7.2)	0.4	(205.1)	$	(246.9)

Gains (Losses) on Derivative Instruments

At April 2, 2023, the Company had remaining net deferred losses on foreign currency forward contracts, net of tax, of $4.0 million in accumulated other comprehensive earnings (loss) ("AOCE"). These instruments hedge payments related to inventory purchased in the first quarter of 2023 or forecasted to be purchased during the remainder of 2023, intercompany expenses expected to be paid or received during 2023, television and movie production costs paid in 2023 or expected to be paid in 2024, and cash receipts for sales made at the end of the first quarter of 2023 or forecasted to be made in the remainder of 2023. These amounts will be reclassified into the consolidated statements of operations upon the sale of the related inventory, the recognition of the related production costs or the recognition of the related sales or intercompany expenses to be paid or received.

In addition to foreign currency forward contracts, the Company entered into hedging contracts on future interest payments related to the 3.15% Notes that were repaid in full in the aggregate principal amount of $300.0 million in 2021 (See note 7), and the 5.10% Notes due 2044. At the date of debt issuance, these contracts were terminated and the fair value on the date of settlement was deferred in AOCE and is being amortized to interest expense over the life of the related notes using the effective interest rate method. At April 2, 2023, deferred losses, net of tax of $14.7 million related to these instruments remained in AOCE. For each of the quarters ended April 2, 2023 and March 27, 2022, previously deferred losses of $0.2 million related to these instruments were reclassified from AOCE to net earnings.

Of the net deferred losses included in AOCE at April 2, 2023, the Company expects net losses of approximately $4.2 million to be reclassified to the consolidated statements of operations within the next 12 months. However, the amount ultimately realized in earnings is dependent on the fair value of the hedging instruments on the settlement dates.

See note 11 for additional discussion on reclassifications from AOCE to earnings.

Accrued Liabilities

3 Months Ended

Apr. 02, 2023

Payables and Accruals [Abstract]

Accrued Liabilities

Components of accrued liabilities for the periods ended April 2, 2023, March 27, 2022 and December 25, 2022 were as follows:


	April 2, 2023		March 27, 2022		December 25, 2022
Participations and residuals	$	275.7	$	301.4	$	300.2
Royalties	131.0		162.0		195.4
Deferred revenue	113.7		97.6		111.3
Dividends	97.0		97.6		96.7
Cancellation charges	84.6		55.7		89.2
Severance	82.4		27.6		100.3
Other taxes	71.6		74.1		82.1
Accrued expenses - IIP & IIC	60.6		70.7		80.8
General vendor accruals	50.1		32.6		44.3
Interest	40.8		38.8		31.0
Lease liability - current	37.9		45.0		39.6
Advertising	36.7		58.6		53.2
Accrued income taxes	33.5		33.1		44.8
Freight	22.7		65.6		28.5
Payroll and management incentives	15.4		56.9		66.7





Other	140.1		154.1		142.7
Total accrued liabilities	$	1,293.8	$	1,371.4	$	1,506.8

Financial Instruments

3 Months Ended

Apr. 02, 2023

Debt Disclosure [Abstract]

Financial Instruments

The Company's financial instruments include cash and cash equivalents, accounts receivable, short-term borrowings, accounts payable and certain accrued liabilities. At April 2, 2023, March 27, 2022 and December 25, 2022, the carrying cost of these instruments approximated their fair value. The Company's financial instruments at April 2, 2023, March 27, 2022 and December 25, 2022 also include certain assets and liabilities measured at fair value (see notes 10 and 11) as well as long-term borrowings. The carrying costs, which are equal to the outstanding principal amounts, and fair values of the Company's long-term borrowings as of April 2, 2023, March 27, 2022 and December 25, 2022 are as follows:


	April 2, 2023			March 27, 2022			December 25, 2022
	Carrying Cost		Fair Value	Carrying Cost		Fair Value	Carrying Cost		Fair Value
3.90% Notes Due 2029	$	900.0	817.3	$	900.0	901.7	$	900.0	808.2
3.55% Notes Due 2026	675.0		634.2	675.0		677.2	675.0		635.3
3.00% Notes Due 2024	500.0		482.8	500.0		498.0	500.0		482.2
6.35% Notes Due 2040	500.0		501.7	500.0		604.2	500.0		498.4
3.50% Notes Due 2027	500.0		470.8	500.0		496.5	500.0		465.8

5.10% Notes Due 2044	300.0		261.2	300.0		321.7	300.0		261.1

6.60% Debentures Due 2028	109.9		112.8	109.9		125.4	109.9		112.1

Variable % Notes Due December 30, 2024	280.0		280.0	340.0		340.0	310.0		310.0
Production Financing Facilities	49.0		49.0	95.8		95.8	53.2		53.2
Total long-term debt	$	3,813.9	3,609.8	$	3,920.7	4,060.5	$	3,848.1	3,626.3
Less: Deferred debt expenses	22.5		—	27.0		—	23.7		—
Less: Current portion	109.0		—	155.8		—	113.2		—
Long-term debt	$	3,682.4	3,609.8	$	3,737.9	4,060.5	$	3,711.2	3,626.3

In November 2019, in conjunction with the Company's acquisition of eOne, the Company issued an aggregate of $2.4 billion of senior unsecured debt securities (the "Notes") consisting of the following tranches: $300.0 million of notes due 2022 (the "2022 Notes") that bear interest at a fixed rate of 2.60%, $500.0 million of notes due 2024 (the "2024 Notes") that bear interest at a fixed rate of 3.00%, $675.0 million of notes due 2026 (the "2026 Notes") that bear interest at a fixed rate of 3.55% and $900.0 million of notes due 2029 (the "2029 Notes") that bear interest at a fixed rate of 3.90%. Net proceeds from the issuance of the Notes, after deduction of $20.0 million of underwriting discount and fees, totaled $2.4 billion. These costs are being amortized over the life of the Notes outstanding, which range from five years to ten years from the date of issuance.

The Notes bear interest at the stated rates but may be subject to upward adjustment if the credit rating of the Company is reduced by Moody's or Standard & Poors. The adjustment can be from 0.25% to 2.00% based on the extent of the ratings decrease. The Company may redeem the Notes at its option at the greater of the principal amount of the Notes or the present value of the remaining scheduled payments discounted using the effective interest rate on applicable U.S. Treasury bills at the time of repurchase, plus (1) 25 basis points (in the case of the 2024 Notes); (2) 30 basis points (in the case of the 2026 Notes); and (3) 35 basis points (in the case of the 2029 Notes). In addition, on and after October 19, 2024 for the 2024 Notes, September 19, 2026 for the 2026 Notes and August 19, 2029 for the 2029 Notes, such series of Notes will be redeemable, in whole at any time or in part from time to time, at the Company's option at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus any accrued and unpaid interest.

In September 2019, the Company entered into a $1.0 billion Term Loan Agreement (the "Term Loan Agreement”) with Bank of America N.A. (“Bank of America”), as administrative agent, and certain financial institutions as lenders, pursuant to which such lenders committed to provide, contingent upon the completion of the eOne Acquisition and certain other customary conditions to funding, (1) a three-year senior unsecured term loan facility in an aggregate principal amount of $400.0 million (the “Three-Year Tranche”) and (2) a five-year senior unsecured term loan facility in an aggregate principal amount of $600.0 million (the “Five-Year Tranche” and together with the Three-Year Tranche, the “Term Loan Facilities”). The full amount of the Term Loan Facilities was drawn down on December 30, 2019, the closing date of the eOne Acquisition. As of September 25, 2022, the Company has fully repaid the Three-Year Tranche $400.0 million principal term loan, and of the Five-Year Tranche $600.0 million principal balance, the Company has repaid a total of $320.0 million in the following increments: $22.5 million in 2020; $180.0 million in 2021; $87.5 million in 2022; and $30.0 million of principal amortization payments in the first quarter of 2023.

Loans under the remaining Five-Year Tranche bear interest at the Company’s option, at either the adjusted Term Secured Overnight Financing Rate ("SOFR"), plus an applicable margin, or the Base Rate, plus a per annum applicable rate that fluctuates between 100.0 basis points and 187.5 basis points, in the case of loans priced at the SOFR, and between 0.0 basis points and 87.5 basis points, in the case of loans priced at the Base Rate, in each case, based upon the non-credit enhanced, senior unsecured long-term debt ratings of the Company by Fitch Ratings Inc., Moody’s Investor Service, Inc. and S&P Global Rankings, subject to certain provisions taking into account potential differences in ratings issued by the relevant rating agencies or a lack of ratings issued by such rating agencies. Loans under the Five-Year Tranche require principal amortization payments that are payable in equal quarterly installments of 5.0% per annum of the original principal amount thereof for each of the first two years after funding, increasing to 10.0% per annum of the original principal amount thereof for each subsequent year. The Term Loan Agreement contains affirmative and negative covenants typical of this type of facility, including: (i) restrictions on the Company’s and its domestic subsidiaries’ ability to allow liens on their assets, (ii) restrictions on the incurrence of indebtedness, (iii) restrictions on the Company’s and certain of its subsidiaries’ ability to engage in certain mergers, (iv) the requirement that the Company maintain a Consolidated Interest Coverage Ratio of no less than 3.00:1.00 as of the end of any fiscal quarter and (v) the requirement that the Company maintain a Consolidated Total Leverage Ratio of no more than, depending on the gross proceeds of equity securities issued after the effective date of the acquisition of eOne, 5.65:1.00 or 5.40:1.00 for each of the first, second and third fiscal quarters ended after the funding of the Term Loan Facilities, with periodic step downs to 3.50:1.00 for the fiscal quarter ending December 31, 2023 and thereafter. As of April 2, 2023, the Company was in compliance with the financial covenants contained in the Term Loan Agreement.

The Company may redeem its 5.10% notes due in 2044 (the "2044 Notes") at its option, at the greater of the principal amount of the notes or the present value of the remaining scheduled payments, discounted using the effective interest rate on applicable U.S. Treasury bills at the time of repurchase.

Current portion of long-term debt at April 2, 2023 of $109.0 million, as shown on the consolidated balance sheet, represents the current portion of required quarterly principal amortization payments for the Five-Year Tranche of the Term Loan Facilities and production financing facilities. All of the Company’s other long-term borrowings have contractual maturities that occur subsequent to 2023 with the exception of certain of the Company's production financing facilities and annual principal payments related to the Term Loan Facilities.

The fair values of the Company's long-term debt are considered Level 3 fair values (see note 10 for further discussion of the fair value hierarchy) and are measured using the discounted future cash flows method. In addition to the debt terms, the valuation methodology includes an assumption of a discount rate that approximates the current yield on a similar debt security. This assumption is considered an unobservable input in that it reflects the Company's own assumptions about the inputs that market participants would use in pricing the asset or liability. The Company believes that this is the best information available for use in the fair value measurement.

Production Financing

In addition to the Company's financial instruments, the Company uses production financing facilities to fund its film and television productions which are arranged on an individual production basis by either special purpose production subsidiaries, each secured by future revenues of such production subsidiaries, which are non-recourse to the Company's assets, or through a senior revolving credit facility dedicated to production financing obtained in November 2021. The Company's senior revolving film and television production credit facility (the “RPCF”) with MUFG Union Bank, N.A., as administrative agent and lender and certain other financial institutions, as lenders thereto (the “Revolving Production Financing Agreement”) provides the Company with commitments having a maximum aggregate principal amount of $250.0 million. The Revolving Production Financing Agreement also provides the Company with the option to request a commitment increase up to an aggregate additional amount of $150.0 million subject to agreement of the lenders. The Revolving Production Financing Agreement extends through November 22, 2024. The Company uses the RPCF to fund certain of the Company’s original film and TV production costs. Borrowings under the RPCF are non-recourse to the Company's assets. Going forward, the Company expects to utilize the RPCF for the majority of its production financing needs.

Production financing facilities typically have maturities of less than two years, while the titles are in production, and are repaid once delivered and all credits, broadcaster pre-sales and international sales have been received. The production financing facilities as of April 2, 2023, March 27, 2022 and December 25, 2022 are as follows:


	April 2, 2023		March 27, 2022		December 25, 2022
Production financing facilities included in the consolidated balance sheet as:
Current liabilities	$	183.5	$	199.1	$	195.6

Interest is charged at bank prime rate plus a margin based on the risk of the respective production. The weighted average interest rate on all production financing as of April 2, 2023 was 5.9%.

The Company has Canadian dollar and U.S. dollar production financing loans with various banks. The carrying amounts are denominated in the following currencies:


	Canadian Dollars		U.S. Dollars		Total
As of April 2, 2023	$	14.8	$	168.7	$	183.5

The following table represents the movements in production financing loans during the first quarter of 2023:


	Production Financing
December 25, 2022	$	195.6
Drawdowns	42.8
Repayments	(54.8)
Foreign exchange differences	(0.1)
Balance at April 2, 2023	$	183.5

The Company expects to repay all of its currently outstanding production financing loans by the first quarter of 2024.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Investments in Productions and Investments in Acquired Content Rights

3 Months Ended

Apr. 02, 2023

Other Industries [Abstract]

Investment in Productions and Investments in Acquired Content Rights

Investments in Productions and Investments in Acquired Content RightsInvestments in productions and investments in acquired content rights are predominantly monetized on a title-by-title basis and are recorded within other assets in the Company's consolidated balance sheets, to the extent they are considered recoverable against future revenues. These amounts are being amortized to program cost amortization using a model that reflects the consumption of the asset as it is released through various channels including broadcast licenses, theatrical release and home entertainment. Amounts capitalized are reviewed periodically on an individual title basis and any portion of the unamortized amount that appears not to be recoverable from future net revenues is expensed as part of program cost amortization during the period the loss becomes evident.

The Company's unamortized investments in productions and investments in acquired content rights consisted of the following at April 2, 2023, March 27, 2022, and December 25, 2022:


	April 2, 2023		March 27, 2022		December 25, 2022
Investment in Films and Television Programs:
Individual Monetization
Released, net of amortization	$	613.3	$	489.1	$	584.5
Completed and not released	53.0		12.7		23.3
In production	85.8		157.8		199.4
Pre-production	126.4		87.7		41.3
	878.5		747.3		848.5
Film/TV Group Monetization
Released, net of amortization	17.6		31.5		25.8

In production	24.0		15.8		22.2

	41.6		47.3		48.0
Investment in Other Programming
Released, net of amortization	13.2		5.2		9.8
Completed and not released	—		0.4		—
In production	8.2		14.4		11.8
Pre-production	3.9		1.8		3.3
	25.3		21.8		24.9

Total Program Investments	$	945.4	$	816.4	$	921.4

The Company recorded $122.5 million of program cost amortization related to released programming in the quarter ended April 2, 2023, consisting of the following:


	Investment in Production		Investment in Content		Total
Program cost amortization	$	110.9	$	11.6	$	122.5

Income Taxes	3 Months Ended
Income Taxes	Apr. 02, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company and its subsidiaries file income tax returns in the United States and various state and international jurisdictions. In the normal course of business, the Company is regularly audited by U.S. federal, state and local, and international tax authorities in various tax jurisdictions. Our effective tax rate ("ETR") from continuing operations was (3.4)% for the quarter ended April 2, 2023 and 21.6% for the quarter ended March 27, 2022. The following items caused the year-to-date ETR to be significantly different from the prior year ETR: •during the quarter ended April 2, 2023, the Company recorded a net discrete tax expense of $3.3 million, primarily associated with stock-based compensation coupled with a pre-tax loss for the quarter; and •during the quarter ended March 27, 2022, the Company recorded a net discrete tax benefit of $2.3 million, primarily associated with the release of certain valuation allowances during the quarter. The Company is no longer subject to U.S. federal income tax examinations for years before 2012. With few exceptions, the Company is no longer subject to U.S. state or local and non-U.S. income tax examinations by tax authorities in its major jurisdictions for years before 2016. The Company is currently under income tax examination by the Internal Revenue Service and in several U.S. state and local and non-U.S. jurisdictions.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Fair Value of Financial Instruments

3 Months Ended

Apr. 02, 2023

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

The Company measures certain financial instruments at fair value. The fair value hierarchy consists of three levels: Level 1 fair values are based on quoted market prices in active markets for identical assets or liabilities that the entity has the ability to access; Level 2 fair values are those based on quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities; and Level 3 fair values are based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. There have been transfers between levels within the fair value hierarchy.

Accounting standards permit entities to measure many financial instruments and certain other items at fair value and establish presentation and disclosure requirements designed to facilitate comparisons between entities that choose different measurement attributes for similar assets and liabilities.

At April 2, 2023, March 27, 2022 and December 25, 2022, the Company had the following assets and liabilities measured at fair value in its consolidated balance sheets (excluding assets for which the fair value is measured using net asset value per share):


	Fair Value Measurements Using:
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
April 2, 2023
Assets:
Available-for-sale securities	$	1.3	1.3	—	—
Derivatives	3.2		—	3.2	—
Total assets	$	4.5	1.3	3.2	—

Liabilities:
Derivatives	$	5.2	—	5.2	—
Option agreement	1.7		—	—	1.7
Total liabilities	$	6.9	—	5.2	1.7

March 27, 2022
Assets:
Available-for-sale securities	$	1.6	1.6	—	—
Derivatives	9.9		—	9.9	—
Total assets	$	11.5	1.6	9.9	—

Liabilities:
Derivatives	$	4.6	—	4.6	—
Option agreement	1.7		—	—	1.7
Total liabilities	$	6.3	—	4.6	1.7

December 25, 2022
Assets:
Available-for-sale securities	$	1.7	1.7	—	—
Derivatives	7.9		—	7.9	—
Total assets	$	9.6	1.7	7.9	—

Liabilities:
Derivatives	$	2.9	—	2.9	—
Option agreement	1.7		—	—	1.7
Total Liabilities	$	4.6	—	2.9	1.7

Available-for-sale securities include equity securities of one company quoted on an active public market.

The Company's derivatives consist of foreign currency forward and option contracts. The Company uses current forward rates of the respective foreign currencies to measure the fair value of these contracts. The Company’s option agreement relates to an equity method investment in Discovery Family Channel ("Discovery"). The option agreement is included in other liabilities at April 2, 2023, March 27, 2022 and December 25, 2022, and is valued using an option pricing model based on the fair value of the related investment. Inputs used in the option pricing model include the volatility and fair value of the underlying company which are considered unobservable inputs as they reflect the Company's own assumptions about the inputs that market participants would use in pricing the asset or liability. The Company believes that this is the best information available for use in the fair value measurement. There were no changes in these valuation techniques during the quarter ended April 2, 2023.

The following is a reconciliation of the beginning and ending balances of the fair value measurements of the Company's financial instruments which use significant unobservable inputs (Level 3):


	2023		2022
Balance at beginning of year	$	(1.7)	$	(1.7)

Balance at end of first quarter	$	(1.7)	$	(1.7)

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Derivative Financial Instruments

3 Months Ended

Apr. 02, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

Hasbro uses foreign currency forward contracts and foreign exchange option contracts to mitigate the impact of currency rate fluctuations on firmly committed and projected future foreign currency transactions. These over-the-counter contracts, which hedge future currency requirements related to purchases of inventory, product sales, television and film production cost and production financing loans (see note 7) as well as other cross-border transactions not denominated in the functional currency of the business unit, are primarily denominated in United States and Hong Kong dollars, and Euros. All contracts are entered into with a number of counterparties, all of which are major financial institutions. The Company believes that a default by a single counterparty would not have a material adverse effect on the financial condition of the Company. Hasbro does not enter into derivative financial instruments for speculative purposes.

Cash Flow Hedges

All of the Company's designated foreign currency forward contracts are considered to be cash flow hedges. These instruments hedge a portion of the Company's currency requirements associated with anticipated inventory purchases, product sales, certain production financing loans and other cross-border transactions, primarily for the remainder of 2023, and to a lesser extent, into 2024.

At April 2, 2023, March 27, 2022 and December 25, 2022, the notional amounts and fair values of the Company's foreign currency forward contracts designated as cash flow hedging instruments were as follows:


	April 2, 2023			March 27, 2022			December 25, 2022
Hedged transaction	Notional Amount		Fair Value	Notional Amount		Fair Value	Notional Amount		Fair Value
Inventory purchases	$	141.5	(5.1)	$	196.9	7.8	$	166.3	(2.7)
Sales	74.5		0.4	104.3		(2.4)	99.2		1.2
Production financing and other	123.7		0.8	188.0		2.5	116.8		1.5
Total	$	339.7	(3.9)	$	489.2	7.9	$	382.3	—

The Company has a master agreement with each of its counterparties that allows for the netting of outstanding forward contracts. The fair values of the Company's foreign currency forward contracts designated as cash flow hedges are recorded in the consolidated balance sheets at April 2, 2023, March 27, 2022 and December 25, 2022 as follows:


	April 2, 2023		March 27, 2022		December 25, 2022
Prepaid expenses and other current assets
Unrealized gains	$	2.7	$	12.7	$	4.3
Unrealized losses	(1.8)		(2.8)		(1.8)
Net unrealized gains	$	0.9	$	9.9	$	2.5

Other assets
Unrealized gains	$	—	$	—	$	0.3
Unrealized losses	—		—		—
Net unrealized gains	$	—	$	—	$	0.3

Accrued liabilities
Unrealized gains	$	2.5	$	0.9	$	1.6
Unrealized losses	(7.3)		(2.7)		(4.4)
Net unrealized losses	$	(4.8)	$	(1.8)	$	(2.8)

Other liabilities
Unrealized gains	$	—	$	—	$	—
Unrealized losses	—		(0.2)		—
Net unrealized losses	$	—	$	(0.2)	$	—

Net gains (losses) on cash flow hedging activities have been reclassified from other comprehensive earnings (loss) to net earnings for the quarters ended April 2, 2023 and March 27, 2022 as follows:


	Quarter Ended
	April 2, 2023		March 27, 2022
Statements of Operations Classification
Cost of sales	$	2.5	$	(0.4)
Net revenues	0.1		(0.4)
Other	(0.2)		(0.5)
Net realized (losses) gains	$	2.4	$	(1.3)

Undesignated Hedges

The Company also enters into foreign currency forward contracts to minimize the impact of changes in the fair value of intercompany loans due to foreign currency changes. The Company does not use hedge accounting for these contracts as changes in the fair values of these contracts are substantially offset by changes in the fair value of the intercompany loans. Additionally, to manage transactional exposure to fair value movements on certain monetary assets and liabilities denominated in foreign currencies, the Company has implemented a balance sheet hedging program. The Company does not use hedge accounting for these contracts as changes in the fair values of these contracts are offset by changes in the fair value of the balance sheet items. As of April 2, 2023, March 27, 2022 and December 25, 2022 the total notional amounts of the Company's undesignated derivative instruments were $723.3 million, $665.0 million and $765.6 million, respectively.

At April 2, 2023, March 27, 2022 and December 25, 2022, the fair values of the Company's undesignated derivative financial instruments were recorded in the consolidated balance sheets as follows:


	April 2, 2023		March 27, 2022		December 25, 2022
Prepaid expenses and other current assets
Unrealized gains	$	6.5	$	—	$	10.9
Unrealized losses	(4.3)		—		(5.9)
Net unrealized gains	$	2.2	$	—	$	5.0

Accrued liabilities
Unrealized gains	$	—	$	6.6	$	—
Unrealized losses	(0.3)		(9.2)		—
Net unrealized losses	$	(0.3)	$	(2.6)	$	—






Total unrealized gains (losses), net	$	1.9	$	(2.6)	$	5.0

The Company recorded net gains (losses) of $4.4 million and $(2.6) million on these instruments to other (income) expense, net for the quarters ended April 2, 2023 and March 27, 2022, respectively, relating to the change in fair value of such derivatives, substantially offsetting gains and losses from the change in fair value of intercompany loans to which the contracts relate.

For additional information related to the Company's derivative financial instruments (see notes 5 and 10).

Leases

3 Months Ended

Apr. 02, 2023

Leases [Abstract]

Leases

The Company occupies offices and uses certain equipment under various operating lease arrangements. The Company has no material finance leases. The Company's leases have remaining lease terms of 1 to 15 years, some of which include options to extend lease terms or options to terminate current lease terms at certain times, subject to notice requirements set out in the lease agreement. Payments under certain of the lease agreements may be subject to adjustment based on a consumer price index or other inflationary indices. The lease liability for such lease agreements as of the adoption date, was based on fixed payments as of the adoption date. Any adjustments to these payments based on the related indices will be recorded to expense as incurred. Leases with an expected term of 12 months or less are not capitalized. Lease expense under such leases is recorded straight line over the life of the lease. The Company capitalizes non-lease components for equipment leases, but expenses non-lease components as incurred for real estate leases.

The rent expense under such arrangements and similar arrangements that do not qualify as leases under ASU 2016-02, net of sublease income amounted to $23.5 million and $22.3 million for the quarters ended April 2, 2023 and March 27, 2022, respectively, and was not material to the Company's financial statements. Expenses related to short-term leases (expected terms less than 12 months) or variable lease payments was not material in the quarters ended April 2, 2023 or March 27, 2022.

Information related to the Company’s leases for the quarters ended April 2, 2023 and March 27, 2022 is as follows:


	Quarter Ended
	April 2, 2023			March 27, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	12.8		$	13.4
Right-of-use assets obtained in exchange for lease obligations:
Operating leases net of lease modifications	$	65.6		$	9.1

Weighted Average Remaining Lease Term
Operating leases	7.3 years			5.4 years
Weighted Average Discount Rate
Operating leases	3.7		%	2.9		%

The following is a reconciliation of future undiscounted cash flows to the operating liabilities, and the related right of use assets, included in our consolidated balance sheets as of April 2, 2023:


	April 2, 2023
2023 (excluding the three months ended April 2, 2023)	$	34.4
2024	39.4
2025	33.2
2026	27.8
2027	19.6
2028 and thereafter	69.2
Total future lease payments	223.6
Less imputed interest	36.4
Present value of future operating lease payments	187.2
Less current portion of operating lease liabilities (1)	37.9
Non-current operating lease liability (2)	149.3
Operating lease right-of-use assets, net (3)	$	174.5

(1) Included in Accrued liabilities on the consolidated balance sheets.

(2) Included in Other liabilities on the consolidated balance sheets.

(3) Included in Property, plant, and equipment on the consolidated balance sheets.

Segment Reporting

3 Months Ended

Apr. 02, 2023

Segment Reporting [Abstract]

Segment Reporting

Hasbro is a global play and entertainment company with a broad portfolio of brands and entertainment content spanning toys, games, licensed products ranging from traditional to digital, as well as film and television entertainment. The Company's three principal reportable segments are (i) Consumer Products, (ii) Wizards of the Coast and Digital Gaming, and (iii) Entertainment.

The Consumer Products segment engages in the sourcing, marketing and sales of toy and game products around the world. The Consumer Products business also promotes the Company's brands through the out-licensing of our trademarks, characters and other brand and intellectual property rights to third parties, through the sale of branded consumer products such as toys and apparel. The Wizards of the Coast and Digital Gaming business engages in the promotion of the Company's brands through the development of trading card, role-playing and digital game experiences based on Hasbro and Wizards of the Coast games. The Entertainment segment engages in the development, acquisition, production, distribution and sale of world-class entertainment content including film, scripted and unscripted television, family programming, digital content and live entertainment.

The significant accounting policies of the Company's segments are the same as those referenced in note 1.

Results shown for the quarter ended April 2, 2023 are not necessarily representative of those which may be expected for the full year 2023, nor were those of the comparable 2022 periods representative of those actually experienced for the full year 2022. Similarly, such results are not necessarily those which would be achieved were each segment an unaffiliated business enterprise.

Information by segment and a reconciliation to reported amounts for the quarters ended April 2, 2023 and March 27, 2022 are as follows:


	Quarter Ended
	April 2, 2023				March 27, 2022
Net revenues	External		Affiliate (b)		External		Affiliate (b)
Consumer Products	$	520.4	$	73.3	$	672.8	$	91.9
Wizards of the Coast and Digital Gaming	295.2		47.8		262.8		29.8
Entertainment	185.4		13.1		227.5		13.9
Corporate and Other (a)	—		(134.2)		—		(135.6)
	$	1,001.0	$	—	$	1,163.1	$	—


	Quarter Ended
Operating profit (loss)	April 2, 2023		March 27, 2022
Consumer Products (a)	$	(46.0)	$	8.6
Wizards of the Coast and Digital Gaming	76.8		106.4
Entertainment (a)	(8.7)		12.2
Corporate and Other (a)	(4.2)		(7.2)
	$	17.9	$	120.0


Total assets	April 2, 2023		March 27, 2022		December 25, 2022
Consumer Products	$	5,533.3	$	4,817.9	$	5,757.7
Wizards of the Coast and Digital Gaming	3,256.8		1,877.7		2,968.7
Entertainment (a)	6,272.7		6,214.4		6,273.3
Corporate and Other (a)	(6,139.1)		(3,391.3)		(5,703.8)
	$	8,923.7	$	9,518.7	$	9,295.9

(a) Certain long-term assets, including property, plant and equipment, goodwill and other intangibles, which benefit multiple operating segments, are included in both Entertainment and Corporate and Other. Allocations of certain Corporate and Other expenses, related to these assets are made to the individual operating segments at the beginning of the year based on budgeted amounts. Any differences between actual and budgeted amounts are reflected in Corporate and Other because allocations are translated from the U.S. Dollar to local currency at budgeted rates when recorded. Beginning in 2022, the Company has allocated certain of the intangible amortization costs related to the assets acquired in the eOne Acquisition, between the Consumer Products and Entertainment segments. Corporate and Other also includes the elimination of inter-company balance sheet amounts.

(b) Amounts represent revenues from transactions with other operating segments that are included in the operating profit (loss) of the segment.

The following table represents consolidated Consumer Products segment net revenues by major geographic region for the quarters ended April 2, 2023 and March 27, 2022:


	Quarter Ended
	April 2, 2023		March 27, 2022
North America	$	279.1	$	405.2
Europe	131.6		176.7
Asia Pacific	63.3		52.2
Latin America	46.4		38.7
Net revenues	$	520.4	$	672.8

The following table represents consolidated Wizards of the Coast and Digital Gaming segment net revenues by category for the quarters ended April 2, 2023 and March 27, 2022:


	Quarter Ended
	April 2, 2023		March 27, 2022
Tabletop Gaming	$	217.9	$	192.2
Digital and Licensed Gaming	77.3		70.6
Net revenues	$	295.2	$	262.8

The following table represents consolidated Entertainment segment net revenues by category for the quarters ended April 2, 2023 and March 27, 2022:


	Quarter Ended
	April 2, 2023		March 27, 2022
Film and TV	$	168.4	$	190.2
Family Brands	17.0		23.2
Music and Other	—		14.1
Net revenues	$	185.4	$	227.5

Effective for the first quarter of 2023, the Company realigned its brand portfolios to correspond with the Blueprint 2.0 strategy. Net Revenues by Brand Portfolio below have been restated to present net revenues and operating profit under the realigned structure. See note 1 for more information on the Company's brand portfolio realignment.

The following table presents consolidated net revenues by brand portfolio for the quarters ended April 2, 2023 and March 27, 2022:


	Quarter Ended
Net revenues	April 2, 2023		March 27, 2022
Franchise Brands	$	613.4	$	650.4
Partner Brands	132.7		206.5
Portfolio Brands	92.0		112.6

Non-Hasbro Branded Film & TV	162.9		193.6
Total	$	1,001.0	$	1,163.1

Net revenues from Hasbro's Total Gaming category, including all gaming revenue, most notably DUNGEONS & DRAGONS, MAGIC: THE GATHERING and Hasbro Gaming, totaled $386.5 million and $378.8 million for the quarters ended April 2, 2023 and March 27, 2022, respectively, of which MAGIC: THE GATHERING contributed $229.1 million and $197.2 million, respectively.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Restructuring Actions

3 Months Ended

Apr. 02, 2023

Restructuring Charges [Abstract]

Restructuring Actions

During 2018 and 2020, the Company took certain restructuring actions including headcount reduction aimed at right-sizing the Company’s cost-structure and integration actions related to the acquisition of eOne. As of April 2, 2023, the Company had a remaining balance of $8.2 million in severance and other employee expenses related to these programs, after making payments of $0.9 million during the first three months of 2023.

During 2022, in support of Blueprint 2.0, Hasbro announced an Operational Excellence program under which the Company took certain restructuring actions, including global workforce reductions, resulting in severance and other employee charges of $94.1 million recorded in Selling, Distribution and Administration within the Corporate and Other segment.

The detail of activity related to the Company's Operational Excellence program as of April 2, 2023 is as follows:


	Total
Remaining amounts to be paid as of December 25, 2022	$	84.9

Payments made in the first three months of 2023	(16.2)
Remaining amounts to be paid as of April 2, 2023	$	68.7

Basis of Presentation (Policies)	3 Months Ended
Basis of Presentation (Policies)	Apr. 02, 2023
Accounting Policies [Abstract]
Basis of Presentation	In the opinion of management, the accompanying unaudited interim consolidated financial statements contain all normal and recurring adjustments necessary to present fairly the consolidated financial position of Hasbro, Inc. and all majority-owned subsidiaries ("Hasbro" or the "Company") as of April 2, 2023 and March 27, 2022, and the results of its operations and cash flows and shareholders' equity for the periods then ended in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and notes thereto. Actual results could differ from those estimates.
Recently Adopted Accounting Standards and Issued Accounting Pronouncements	Recently Adopted Accounting Standards As of April 2, 2023, there were no recently adopted accounting standards that had a material effect on the Company’s financial statements. Issued Accounting Pronouncements As of April 2, 2023, there were no recently issued accounting pronouncements that had a material effect on the Company’s financial statements.
Revenue Recognition	Contract Assets and Liabilities In the ordinary course of business, the Company’s Consumer Products, Wizards of the Coast and Digital Gaming and Entertainment segments enter into contracts to license certain of the Company’s intellectual property, providing licensees right-to-use or access to such intellectual property for use in the production and sale of consumer products and digital game development, and for use within content for distribution over streaming platforms and for television and film. The Company also licenses owned television and film content for distribution to third parties in formats that include broadcast, digital streaming and theatrical. Through these arrangements, the Company may receive advanced royalty payments from licensees, either in advance of a licensees’ subsequent sales to customers or, prior to the completion of the Company’s performance obligation. In addition, the Company’s Wizards of the Coast and Digital Gaming segment may receive advanced payments from end users of its digital games at the time of the initial purchase or through in-application purchases. These digital gaming revenues are recognized over a period of time, determined based on player usage patterns or the estimated playing life of the user or when additional downloadable content is made available. The Company defers revenues on all licensee and digital gaming advanced payments until the respective performance obligations are satisfied. The Company records the aggregate deferred revenues as contract liabilities, with the current portion recorded within Accrued Liabilities and the long-term portion recorded as Other Non-current Liabilities in the Company’s consolidated balance sheets. The Company records contract assets, primarily related to (1) minimum guarantees being recognized in advance of contractual invoicing, which are recognized ratably over the terms of the respective license periods, and (2) film and television distribution revenues recorded for content delivered, where payment will occur over the license term. The current portion of contract assets is recorded in Prepaid Expenses and Other Current Assets, respectively, and the long-term portion is recorded within Other Long-Term Assets. Disaggregation of revenuesThe Company disaggregates its revenues from contracts with customers by reportable segment: Consumer Products, Wizards of the Coast and Digital Gaming, and Entertainment. The Company further disaggregates revenues within its Consumer Products segment by major geographic region: North America, Europe, Latin America, and Asia Pacific; within its Wizards of the Coast and Digital Gaming segment by category: Tabletop Gaming and Digital and Licensed Gaming; and within its Entertainment segment by category: Film & TV, Family Brands, and Other. Finally, the Company disaggregates its revenues by brand portfolio into four brand categories: Franchise Brands, Partner Brands, Portfolio Brands, and Non-Hasbro Branded Film & TV. We believe these collectively depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.
Leases	The Company occupies offices and uses certain equipment under various operating lease arrangements. The Company has no material finance leases. The Company's leases have remaining lease terms of 1 to 15 years, some of which include options to extend lease terms or options to terminate current lease terms at certain times, subject to notice requirements set out in the lease agreement. Payments under certain of the lease agreements may be subject to adjustment based on a consumer price index or other inflationary indices. The lease liability for such lease agreements as of the adoption date, was based on fixed payments as of the adoption date. Any adjustments to these payments based on the related indices will be recorded to expense as incurred. Leases with an expected term of 12 months or less are not capitalized. Lease expense under such leases is recorded straight line over the life of the lease. The Company capitalizes non-lease components for equipment leases, but expenses non-lease components as incurred for real estate leases.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

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-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
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-Paragraph 18
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130563-203045

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+ Details

Revenue Recognition (Tables)

3 Months Ended

Apr. 02, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Contract Assets and Liabilities

The changes in carrying amounts of contract assets and liabilities for the quarter ended April 2, 2023 are as follows:


	April 2, 2023
Assets
Balance at beginning of the year	$	594.4
Recognized in current year	213.8
Amounts reclassified to accounts receivable	(218.7)
Foreign currency impact	7.7
Ending Balance	$	597.2

Liabilities
Balance at beginning of the year	$	113.0
Recognized in current year	80.3
Amounts in beginning balance reclassified to revenue	(53.3)
Current year amounts reclassified to revenue	(22.5)

Foreign currency impact	(2.2)
Ending Balance	$	115.3

Earnings (Loss) Per Share (Tables)

3 Months Ended

Apr. 02, 2023

Earnings Per Share [Abstract]

Schedule of Earnings (Loss) Per Share

Net earnings (loss) per share data for the quarters ended April 2, 2023 and March 27, 2022 were computed as follows:


	2023			2022
Quarter	Basic		Diluted	Basic		Diluted
Net (loss) earnings attributable to Hasbro, Inc.	$	(22.1)	(22.1)	$	61.2	61.2

Average shares outstanding	138.6		138.6	139.3		139.3
Effect of dilutive securities:
Options and other share-based awards	—		—	—		0.3
Equivalent Shares	138.6		138.6	139.3		139.6

Net (loss) earnings attributable to Hasbro, Inc. per common share	$	(0.16)	(0.16)	$	0.44	0.44

Goodwill (Tables)

3 Months Ended

Apr. 02, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Changes in the carrying amount of goodwill, by operating segment, for the quarters ended April 2, 2023 and March 27, 2022 are as follows:


	Consumer Products		Wizards of the Coast and Digital Gaming	Entertainment	Total
2023
Balance at December 25, 2022	$	1,584.7	371.5	1,513.9	$	3,470.1




Balance at April 2, 2023	$	1,584.7	371.5	1,513.9	$	3,470.1


	Consumer Products		Wizards of the Coast and Digital Gaming	Entertainment	Total
2022
Balance at December 26, 2021	$	1,584.9	307.3	1,527.4	$	3,419.6
Foreign exchange translation	(0.1)		0.2	(0.4)	(0.3)
Balance at March 27, 2022	$	1,584.8	307.5	1,527.0	$	3,419.3

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

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-Name Accounting Standards Codification
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+ Details

Other Comprehensive Earnings (Loss) (Tables)

3 Months Ended

Apr. 02, 2023

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Schedule of Other Comprehensive Income (Loss), Tax Effect

The following table presents the related tax effects on changes in other comprehensive earnings (loss) for the quarters ended April 2, 2023 and March 27, 2022.


	Quarter Ended
	April 2, 2023		March 27, 2022

Other comprehensive earnings (loss), tax effect:
Tax expense on unrealized holding gains	$	—	$	(0.1)
Tax benefit on cash flow hedging activities	1.2		0.9


Reclassifications to earnings, tax effect:
Tax expense (benefit) on cash flow hedging activities	0.1		(0.2)



Total tax effect on other comprehensive earnings	$	1.3	$	0.6

Schedule of Accumulated Other Comprehensive Earnings (Loss), Net of Tax

Changes in the components of accumulated other comprehensive earnings (loss), net of tax for the quarters ended April 2, 2023 and March 27, 2022 are as follows:


	Pension and Postretirement Amounts		Gains (Losses) on Derivative Instruments	Unrealized Holding Gains (Losses) on Available- for-Sale Securities	Foreign Currency Translation Adjustments	Total Accumulated Other Comprehensive Loss
2023
Balance at December 25, 2022	$	(3.0)	(12.0)	(0.1)	(239.8)	$	(254.9)
Current period other comprehensive earnings (loss)	(0.1)		(6.7)	—	24.3	17.5
Balance at April 2, 2023	$	(3.1)	(18.7)	(0.1)	(215.5)	$	(237.4)

2022
Balance at December 26, 2021	$	(35.1)	(6.0)	0.2	(194.4)	$	(235.3)

Current period other comprehensive earnings (loss)	0.1		(1.2)	0.2	(10.7)	(11.6)
Balance at March 27, 2022	$	(35.0)	(7.2)	0.4	(205.1)	$	(246.9)

Accrued Liabilities (Tables)

3 Months Ended

Apr. 02, 2023

Payables and Accruals [Abstract]

Schedule of Accrued Liabilities

Components of accrued liabilities for the periods ended April 2, 2023, March 27, 2022 and December 25, 2022 were as follows:


	April 2, 2023		March 27, 2022		December 25, 2022
Participations and residuals	$	275.7	$	301.4	$	300.2
Royalties	131.0		162.0		195.4
Deferred revenue	113.7		97.6		111.3
Dividends	97.0		97.6		96.7
Cancellation charges	84.6		55.7		89.2
Severance	82.4		27.6		100.3
Other taxes	71.6		74.1		82.1
Accrued expenses - IIP & IIC	60.6		70.7		80.8
General vendor accruals	50.1		32.6		44.3
Interest	40.8		38.8		31.0
Lease liability - current	37.9		45.0		39.6
Advertising	36.7		58.6		53.2
Accrued income taxes	33.5		33.1		44.8
Freight	22.7		65.6		28.5
Payroll and management incentives	15.4		56.9		66.7





Other	140.1		154.1		142.7
Total accrued liabilities	$	1,293.8	$	1,371.4	$	1,506.8

Financial Instruments (Tables)

3 Months Ended

Apr. 02, 2023

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The carrying costs, which are equal to the outstanding principal amounts, and fair values of the Company's long-term borrowings as of April 2, 2023, March 27, 2022 and December 25, 2022 are as follows:


	April 2, 2023			March 27, 2022			December 25, 2022
	Carrying Cost		Fair Value	Carrying Cost		Fair Value	Carrying Cost		Fair Value
3.90% Notes Due 2029	$	900.0	817.3	$	900.0	901.7	$	900.0	808.2
3.55% Notes Due 2026	675.0		634.2	675.0		677.2	675.0		635.3
3.00% Notes Due 2024	500.0		482.8	500.0		498.0	500.0		482.2
6.35% Notes Due 2040	500.0		501.7	500.0		604.2	500.0		498.4
3.50% Notes Due 2027	500.0		470.8	500.0		496.5	500.0		465.8

5.10% Notes Due 2044	300.0		261.2	300.0		321.7	300.0		261.1

6.60% Debentures Due 2028	109.9		112.8	109.9		125.4	109.9		112.1

Variable % Notes Due December 30, 2024	280.0		280.0	340.0		340.0	310.0		310.0
Production Financing Facilities	49.0		49.0	95.8		95.8	53.2		53.2
Total long-term debt	$	3,813.9	3,609.8	$	3,920.7	4,060.5	$	3,848.1	3,626.3
Less: Deferred debt expenses	22.5		—	27.0		—	23.7		—
Less: Current portion	109.0		—	155.8		—	113.2		—
Long-term debt	$	3,682.4	3,609.8	$	3,737.9	4,060.5	$	3,711.2	3,626.3

Schedule of Production Financing Loans

The production financing facilities as of April 2, 2023, March 27, 2022 and December 25, 2022 are as follows:


	April 2, 2023		March 27, 2022		December 25, 2022
Production financing facilities included in the consolidated balance sheet as:
Current liabilities	$	183.5	$	199.1	$	195.6

Schedule of Carrying Amount of Currencies for Production Financing Loans

The carrying amounts are denominated in the following currencies:


	Canadian Dollars		U.S. Dollars		Total
As of April 2, 2023	$	14.8	$	168.7	$	183.5

Schedule of Production Financing Loans

The following table represents the movements in production financing loans during the first quarter of 2023:


	Production Financing
December 25, 2022	$	195.6
Drawdowns	42.8
Repayments	(54.8)
Foreign exchange differences	(0.1)
Balance at April 2, 2023	$	183.5

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

Investments in Productions and Investments in Acquired Content Rights (Tables)

3 Months Ended

Apr. 02, 2023

Other Industries [Abstract]

Schedule of Program Production Costs

The Company's unamortized investments in productions and investments in acquired content rights consisted of the following at April 2, 2023, March 27, 2022, and December 25, 2022:


	April 2, 2023		March 27, 2022		December 25, 2022
Investment in Films and Television Programs:
Individual Monetization
Released, net of amortization	$	613.3	$	489.1	$	584.5
Completed and not released	53.0		12.7		23.3
In production	85.8		157.8		199.4
Pre-production	126.4		87.7		41.3
	878.5		747.3		848.5
Film/TV Group Monetization
Released, net of amortization	17.6		31.5		25.8

In production	24.0		15.8		22.2

	41.6		47.3		48.0
Investment in Other Programming
Released, net of amortization	13.2		5.2		9.8
Completed and not released	—		0.4		—
In production	8.2		14.4		11.8
Pre-production	3.9		1.8		3.3
	25.3		21.8		24.9

Total Program Investments	$	945.4	$	816.4	$	921.4

Program Cost Amortization

The Company recorded $122.5 million of program cost amortization related to released programming in the quarter ended April 2, 2023, consisting of the following:


	Investment in Production		Investment in Content		Total
Program cost amortization	$	110.9	$	11.6	$	122.5

Fair Value of Financial Instruments (Tables)

3 Months Ended

Apr. 02, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value Hierarchy


	Fair Value Measurements Using:
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
April 2, 2023
Assets:
Available-for-sale securities	$	1.3	1.3	—	—
Derivatives	3.2		—	3.2	—
Total assets	$	4.5	1.3	3.2	—

Liabilities:
Derivatives	$	5.2	—	5.2	—
Option agreement	1.7		—	—	1.7
Total liabilities	$	6.9	—	5.2	1.7

March 27, 2022
Assets:
Available-for-sale securities	$	1.6	1.6	—	—
Derivatives	9.9		—	9.9	—
Total assets	$	11.5	1.6	9.9	—

Liabilities:
Derivatives	$	4.6	—	4.6	—
Option agreement	1.7		—	—	1.7
Total liabilities	$	6.3	—	4.6	1.7

December 25, 2022
Assets:
Available-for-sale securities	$	1.7	1.7	—	—
Derivatives	7.9		—	7.9	—
Total assets	$	9.6	1.7	7.9	—

Liabilities:
Derivatives	$	2.9	—	2.9	—
Option agreement	1.7		—	—	1.7
Total Liabilities	$	4.6	—	2.9	1.7

Schedule of Reconciliation of Level 3 Fair Value

The following is a reconciliation of the beginning and ending balances of the fair value measurements of the Company's financial instruments which use significant unobservable inputs (Level 3):


	2023		2022
Balance at beginning of year	$	(1.7)	$	(1.7)

Balance at end of first quarter	$	(1.7)	$	(1.7)

Derivative Financial Instruments (Tables)

3 Months Ended

Apr. 02, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Cash Flow Hedging Instruments


	April 2, 2023			March 27, 2022			December 25, 2022
Hedged transaction	Notional Amount		Fair Value	Notional Amount		Fair Value	Notional Amount		Fair Value
Inventory purchases	$	141.5	(5.1)	$	196.9	7.8	$	166.3	(2.7)
Sales	74.5		0.4	104.3		(2.4)	99.2		1.2
Production financing and other	123.7		0.8	188.0		2.5	116.8		1.5
Total	$	339.7	(3.9)	$	489.2	7.9	$	382.3	—

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The fair values of the Company's foreign currency forward contracts designated as cash flow hedges are recorded in the consolidated balance sheets at April 2, 2023, March 27, 2022 and December 25, 2022 as follows:


	April 2, 2023		March 27, 2022		December 25, 2022
Prepaid expenses and other current assets
Unrealized gains	$	2.7	$	12.7	$	4.3
Unrealized losses	(1.8)		(2.8)		(1.8)
Net unrealized gains	$	0.9	$	9.9	$	2.5

Other assets
Unrealized gains	$	—	$	—	$	0.3
Unrealized losses	—		—		—
Net unrealized gains	$	—	$	—	$	0.3

Accrued liabilities
Unrealized gains	$	2.5	$	0.9	$	1.6
Unrealized losses	(7.3)		(2.7)		(4.4)
Net unrealized losses	$	(4.8)	$	(1.8)	$	(2.8)

Other liabilities
Unrealized gains	$	—	$	—	$	—
Unrealized losses	—		(0.2)		—
Net unrealized losses	$	—	$	(0.2)	$	—

Schedule of Derivative Instruments, Gain (Loss) in Statement of Operations

Net gains (losses) on cash flow hedging activities have been reclassified from other comprehensive earnings (loss) to net earnings for the quarters ended April 2, 2023 and March 27, 2022 as follows:


	Quarter Ended
	April 2, 2023		March 27, 2022
Statements of Operations Classification
Cost of sales	$	2.5	$	(0.4)
Net revenues	0.1		(0.4)
Other	(0.2)		(0.5)
Net realized (losses) gains	$	2.4	$	(1.3)

Schedule of Fair Values of Undesignated Derivative Financial Instruments

At April 2, 2023, March 27, 2022 and December 25, 2022, the fair values of the Company's undesignated derivative financial instruments were recorded in the consolidated balance sheets as follows:


	April 2, 2023		March 27, 2022		December 25, 2022
Prepaid expenses and other current assets
Unrealized gains	$	6.5	$	—	$	10.9
Unrealized losses	(4.3)		—		(5.9)
Net unrealized gains	$	2.2	$	—	$	5.0

Accrued liabilities
Unrealized gains	$	—	$	6.6	$	—
Unrealized losses	(0.3)		(9.2)		—
Net unrealized losses	$	(0.3)	$	(2.6)	$	—






Total unrealized gains (losses), net	$	1.9	$	(2.6)	$	5.0

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

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+ Details

Leases (Tables)

3 Months Ended

Apr. 02, 2023

Leases [Abstract]

Schedule of Information Related to Leases

Information related to the Company’s leases for the quarters ended April 2, 2023 and March 27, 2022 is as follows:


	Quarter Ended
	April 2, 2023			March 27, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	12.8		$	13.4
Right-of-use assets obtained in exchange for lease obligations:
Operating leases net of lease modifications	$	65.6		$	9.1

Weighted Average Remaining Lease Term
Operating leases	7.3 years			5.4 years
Weighted Average Discount Rate
Operating leases	3.7		%	2.9		%

Schedule of Reconciliation of Future Undiscounted Cash Flows

The following is a reconciliation of future undiscounted cash flows to the operating liabilities, and the related right of use assets, included in our consolidated balance sheets as of April 2, 2023:


	April 2, 2023
2023 (excluding the three months ended April 2, 2023)	$	34.4
2024	39.4
2025	33.2
2026	27.8
2027	19.6
2028 and thereafter	69.2
Total future lease payments	223.6
Less imputed interest	36.4
Present value of future operating lease payments	187.2
Less current portion of operating lease liabilities (1)	37.9
Non-current operating lease liability (2)	149.3
Operating lease right-of-use assets, net (3)	$	174.5

(1) Included in Accrued liabilities on the consolidated balance sheets.

(2) Included in Other liabilities on the consolidated balance sheets.

(3) Included in Property, plant, and equipment on the consolidated balance sheets.

Segment Reporting (Tables)

3 Months Ended

Apr. 02, 2023

Segment Reporting [Abstract]

Schedule of Information by Segment and Reconciliation to Reported Amounts

Information by segment and a reconciliation to reported amounts for the quarters ended April 2, 2023 and March 27, 2022 are as follows:


	Quarter Ended
	April 2, 2023				March 27, 2022
Net revenues	External		Affiliate (b)		External		Affiliate (b)
Consumer Products	$	520.4	$	73.3	$	672.8	$	91.9
Wizards of the Coast and Digital Gaming	295.2		47.8		262.8		29.8
Entertainment	185.4		13.1		227.5		13.9
Corporate and Other (a)	—		(134.2)		—		(135.6)
	$	1,001.0	$	—	$	1,163.1	$	—

Schedule of Operating Profit (Loss) by Segment


	Quarter Ended
Operating profit (loss)	April 2, 2023		March 27, 2022
Consumer Products (a)	$	(46.0)	$	8.6
Wizards of the Coast and Digital Gaming	76.8		106.4
Entertainment (a)	(8.7)		12.2
Corporate and Other (a)	(4.2)		(7.2)
	$	17.9	$	120.0

Schedule of Total Assets by Segment


Total assets	April 2, 2023		March 27, 2022		December 25, 2022
Consumer Products	$	5,533.3	$	4,817.9	$	5,757.7
Wizards of the Coast and Digital Gaming	3,256.8		1,877.7		2,968.7
Entertainment (a)	6,272.7		6,214.4		6,273.3
Corporate and Other (a)	(6,139.1)		(3,391.3)		(5,703.8)
	$	8,923.7	$	9,518.7	$	9,295.9

(b) Amounts represent revenues from transactions with other operating segments that are included in the operating profit (loss) of the segment.

Schedule of Net Revenues by Major Geographic Region

The following table represents consolidated Consumer Products segment net revenues by major geographic region for the quarters ended April 2, 2023 and March 27, 2022:


	Quarter Ended
	April 2, 2023		March 27, 2022
North America	$	279.1	$	405.2
Europe	131.6		176.7
Asia Pacific	63.3		52.2
Latin America	46.4		38.7
Net revenues	$	520.4	$	672.8

Schedules of Net Revenues by Category

The following table represents consolidated Wizards of the Coast and Digital Gaming segment net revenues by category for the quarters ended April 2, 2023 and March 27, 2022:


	Quarter Ended
	April 2, 2023		March 27, 2022
Tabletop Gaming	$	217.9	$	192.2
Digital and Licensed Gaming	77.3		70.6
Net revenues	$	295.2	$	262.8

The following table represents consolidated Entertainment segment net revenues by category for the quarters ended April 2, 2023 and March 27, 2022:


	Quarter Ended
	April 2, 2023		March 27, 2022
Film and TV	$	168.4	$	190.2
Family Brands	17.0		23.2
Music and Other	—		14.1
Net revenues	$	185.4	$	227.5

The following table presents consolidated net revenues by brand portfolio for the quarters ended April 2, 2023 and March 27, 2022:


	Quarter Ended
Net revenues	April 2, 2023		March 27, 2022
Franchise Brands	$	613.4	$	650.4
Partner Brands	132.7		206.5
Portfolio Brands	92.0		112.6

Non-Hasbro Branded Film & TV	162.9		193.6
Total	$	1,001.0	$	1,163.1

Restructuring Actions (Tables)

3 Months Ended

Apr. 02, 2023

Restructuring Charges [Abstract]

Schedule of Restructuring and Related Costs

The detail of activity related to the Company's Operational Excellence program as of April 2, 2023 is as follows:


	Total
Remaining amounts to be paid as of December 25, 2022	$	84.9

Payments made in the first three months of 2023	(16.2)
Remaining amounts to be paid as of April 2, 2023	$	68.7

Revenue Recognition - Contract Assets and Liabilities (Details) $ in Millions	3 Months Ended
	Apr. 02, 2023 USD ($)
Assets
Balance at beginning of the year	$ 594.4
Recognized in current year	213.8
Amounts reclassified to accounts receivable	(218.7)
Foreign currency impact	7.7
Ending Balance	597.2
Liabilities
Balance at beginning of the year	113.0
Recognized in current year	80.3
Amounts in beginning balance reclassified to revenue	(53.3)
Current year amounts reclassified to revenue	(22.5)
Foreign currency impact	(2.2)
Ending Balance	$ 115.3

Revenue Recognition - Additional Information (Details) $ in Millions	3 Months Ended
	Apr. 02, 2023 USD ($) brand_category
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue, remaining performance obligation, amount	$ 293.8
Number of brand categories \| brand_category	4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-03
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue, remaining performance obligation, amount	$ 244.4
Revenue, remaining performance obligation, period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue, remaining performance obligation, amount	$ 38.0
Revenue, remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-12-30
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue, remaining performance obligation, amount	$ 11.3
Revenue, remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-12-29
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue, remaining performance obligation, amount	$ 0.1
Revenue, remaining performance obligation, period	1 year

Earnings (Loss) Per Share - Schedule of Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Apr. 02, 2023	Mar. 27, 2022
Basic
Net (loss) earnings attributable to Hasbro, Inc.	$ (22.1)	$ 61.2
Average shares outstanding, basic (in shares)	138.6	139.3
Net earnings (loss) per common share, basic (in dollars per share)	$ (0.16)	$ 0.44
Diluted
Net (loss) earnings attributable to Hasbro, Inc.	$ (22.1)	$ 61.2
Effect of dilutive securities:
Average shares outstanding, basic (in shares)	138.6	139.3
Options and other share-based awards (in shares)	0.0	0.3
Equivalent Shares (in shares)	138.6	139.6
Net earnings (loss) per common share, diluted (in dollars per share)	$ (0.16)	$ 0.44

Earnings (Loss) Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended
	Apr. 02, 2023	Mar. 27, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, shares would have been included if no net loss (in shares)	2.0
Antidilutive securities excluded from computation of earnings per share, amount, treasury stock method (in shares)	0.1
Employee stock option and restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	4.2	2.5

Goodwill - Schedule of Goodwill (Details) - USD ($)	3 Months Ended
Goodwill - Schedule of Goodwill (Details) - USD ($)	Apr. 02, 2023	Mar. 27, 2022
Goodwill [Roll Forward]
Beginning balance	$ 3,470,100,000	$ 3,419,600,000
Foreign exchange translation		(300,000)
Period increase (decrease)	0
Ending balance	3,470,100,000	3,419,300,000
Consumer Products
Goodwill [Roll Forward]
Beginning balance	1,584,700,000	1,584,900,000
Foreign exchange translation		(100,000)
Period increase (decrease)	0
Ending balance	1,584,700,000	1,584,800,000
Wizards of the Coast and Digital Gaming
Goodwill [Roll Forward]
Beginning balance	371,500,000	307,300,000
Foreign exchange translation		200,000
Period increase (decrease)	0
Ending balance	371,500,000	307,500,000
Entertainment
Goodwill [Roll Forward]
Beginning balance	1,513,900,000	1,527,400,000
Foreign exchange translation		(400,000)
Period increase (decrease)	0
Ending balance	$ 1,513,900,000	$ 1,527,000,000

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Other Comprehensive Earnings (Loss) - Schedule of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Mar. 27, 2022
Other comprehensive earnings (loss), tax effect:
Tax expense on unrealized holding gains	$ 0.0	$ (0.1)
Tax benefit on cash flow hedging activities	1.2	0.9
Reclassifications to earnings, tax effect:
Tax expense (benefit) on cash flow hedging activities	0.1	(0.2)
Total tax effect on other comprehensive earnings	$ 1.3	$ 0.6

Other Comprehensive Earnings (Loss) - Schedule of Accumulated Other Comprehensive Earnings (Loss), Net of Tax (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Mar. 27, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ (254.9)
Current period other comprehensive earnings (loss)	17.5	$ (11.6)
Ending balance	(237.4)	(246.9)
Pension and Postretirement Amounts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(3.0)	(35.1)
Current period other comprehensive earnings (loss)	(0.1)	0.1
Ending balance	(3.1)	(35.0)
Gains (Losses) on Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(12.0)	(6.0)
Current period other comprehensive earnings (loss)	(6.7)	(1.2)
Ending balance	(18.7)	(7.2)
Unrealized Holding Gains (Losses) on Available- for-Sale Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(0.1)	0.2
Current period other comprehensive earnings (loss)	0.0	0.2
Ending balance	(0.1)	0.4
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(239.8)	(194.4)
Current period other comprehensive earnings (loss)	24.3	(10.7)
Ending balance	(215.5)	(205.1)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(254.9)	(235.3)
Current period other comprehensive earnings (loss)	17.5	(11.6)
Ending balance	$ (237.4)	$ (246.9)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

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+ Details

Other Comprehensive Earnings (Loss) - Narrative (Details) - USD ($)	3 Months Ended		12 Months Ended
	Apr. 02, 2023	Mar. 27, 2022	Dec. 26, 2021	Dec. 25, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive earnings (loss)	$ (237,400,000)	$ (246,900,000)		$ (254,900,000)
Deferred losses reclassified from AOCE to net earnings	46,300,000	41,600,000
Net losses expected to be reclassified within next 12 months	$ 4,200,000
3.15% Notes Due 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Debt stated interest rate			3.15%
Repayments of debt			$ 300,000,000
5.10% Notes Due 2044
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Debt stated interest rate	5.10%
Gains (Losses) on Derivative Instruments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive earnings (loss)	$ (18,700,000)	(7,200,000)	$ (6,000,000.0)	$ (12,000,000.0)
Gains (Losses) on Derivative Instruments \| Foreign Exchange Forward
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive earnings (loss)	(4,000,000)
Gains (Losses) on Derivative Instruments \| Interest Rate Contract
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive earnings (loss)	(14,700,000)
Gains (Losses) on Derivative Instruments \| Reclassification out of Accumulated Other Comprehensive Income \| Interest Rate Contract
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Deferred losses reclassified from AOCE to net earnings	$ (200,000)	$ (200,000)

Accrued Liabilities (Details) - USD ($) $ in Millions	Apr. 02, 2023	Dec. 25, 2022	Mar. 27, 2022
Payables and Accruals [Abstract]
Participations and residuals	$ 275.7	$ 300.2	$ 301.4
Royalties	131.0	195.4	162.0
Deferred revenue	113.7	111.3	97.6
Dividends	97.0	96.7	97.6
Cancellation charges	84.6	89.2	55.7
Severance	82.4	100.3	27.6
Other taxes	71.6	82.1	74.1
Accrued expenses - IIP & IIC	60.6	80.8	70.7
General vendor accruals	50.1	44.3	32.6
Interest	$ 40.8	$ 31.0	$ 38.8
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities	Accrued liabilities	Accrued liabilities
Lease liability - current	$ 37.9	$ 39.6	$ 45.0
Advertising	36.7	53.2	58.6
Accrued income taxes	33.5	44.8	33.1
Freight	22.7	28.5	65.6
Payroll and management incentives	15.4	66.7	56.9
Other	140.1	142.7	154.1
Accrued liabilities	$ 1,293.8	$ 1,506.8	$ 1,371.4

Financial Instruments - Long-term Debt Instruments (Details) - USD ($) $ in Millions	Apr. 02, 2023	Dec. 25, 2022	Mar. 27, 2022
Debt Instrument [Line Items]
Carrying Cost	$ 3,813.9	$ 3,848.1	$ 3,920.7
Less: Deferred debt expenses	22.5	23.7	27.0
Current portion of long-term debt	109.0	113.2	155.8
Long-term debt, carrying cost	3,682.4	3,711.2	3,737.9
Fair Value	3,609.8	3,626.3	4,060.5
Long-term debt, fair value	$ 3,609.8	3,626.3	4,060.5
3.90% Notes Due 2029
Debt Instrument [Line Items]
Debt stated interest rate	3.90%
Carrying Cost	$ 900.0	900.0	900.0
Fair Value	$ 817.3	808.2	901.7
3.55% Notes Due 2026
Debt Instrument [Line Items]
Debt stated interest rate	3.55%
Carrying Cost	$ 675.0	675.0	675.0
Fair Value	$ 634.2	635.3	677.2
3.00% Notes Due 2024
Debt Instrument [Line Items]
Debt stated interest rate	3.00%
Carrying Cost	$ 500.0	500.0	500.0
Fair Value	$ 482.8	482.2	498.0
6.35% Notes Due 2040
Debt Instrument [Line Items]
Debt stated interest rate	6.35%
Carrying Cost	$ 500.0	500.0	500.0
Fair Value	$ 501.7	498.4	604.2
3.50% Notes Due 2027
Debt Instrument [Line Items]
Debt stated interest rate	3.50%
Carrying Cost	$ 500.0	500.0	500.0
Fair Value	$ 470.8	465.8	496.5
5.10% Notes Due 2044
Debt Instrument [Line Items]
Debt stated interest rate	5.10%
Carrying Cost	$ 300.0	300.0	300.0
Fair Value	$ 261.2	261.1	321.7
6.60% Debentures Due 2028
Debt Instrument [Line Items]
Debt stated interest rate	6.60%
Carrying Cost	$ 109.9	109.9	109.9
Fair Value	112.8	112.1	125.4
Variable % Notes Due December 30, 2024
Debt Instrument [Line Items]
Carrying Cost	280.0	310.0	340.0
Fair Value	280.0	310.0	340.0
Production Financing Facilities
Debt Instrument [Line Items]
Carrying Cost	49.0	53.2	95.8
Fair Value	$ 49.0	$ 53.2	$ 95.8

Financial Instruments - Narrative (Details) - USD ($)	1 Months Ended		3 Months Ended	12 Months Ended			33 Months Ended
Financial Instruments - Narrative (Details) - USD ($)	Nov. 30, 2019	Sep. 30, 2019	Apr. 02, 2023	Dec. 25, 2022	Dec. 26, 2021	Dec. 27, 2020	Sep. 25, 2022	Mar. 27, 2022	Nov. 30, 2021
Debt Instrument [Line Items]
Current portion of long-term debt			$ 109,000,000.0	$ 113,200,000				$ 155,800,000
Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 2,400,000,000
Underwriting discount and fees	20,000,000
Net proceeds after deduction of underwriting discount and fees	$ 2,400,000,000
Redemption price (as a percent)	100.00%
Senior Notes \| Minimum
Debt Instrument [Line Items]
Debt instrument term	5 years
Upward adjustment if credit rating is reduced (as a percent)	0.25%
Senior Notes \| Maximum
Debt Instrument [Line Items]
Debt instrument term	10 years
Upward adjustment if credit rating is reduced (as a percent)	2.00%
2.60% Notes Due 2022 \| Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 300,000,000
Debt stated interest rate	2.60%
3.00% Notes Due 2024
Debt Instrument [Line Items]
Debt stated interest rate			3.00%
3.00% Notes Due 2024 \| Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 500,000,000
Debt stated interest rate	3.00%
3.00% Notes Due 2024 \| Senior Notes \| US Treasury (UST) Interest Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.25%
3.55% Notes Due 2026
Debt Instrument [Line Items]
Debt stated interest rate			3.55%
3.55% Notes Due 2026 \| Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 675,000,000
Debt stated interest rate	3.55%
3.55% Notes Due 2026 \| Senior Notes \| US Treasury (UST) Interest Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.30%
3.90% Notes Due 2029
Debt Instrument [Line Items]
Debt stated interest rate			3.90%
3.90% Notes Due 2029 \| Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 900,000,000
Debt stated interest rate	3.90%
3.90% Notes Due 2029 \| Senior Notes \| US Treasury (UST) Interest Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.35%
$1.0 Billion Term Loan Agreement \| Unsecured Debt
Debt Instrument [Line Items]
Aggregate principal amount		$ 1,000,000,000
Consolidated interest coverage ratio		3.00
Consolidated total leverage ratio		3.50
$1.0 Billion Term Loan Agreement \| Unsecured Debt \| Minimum
Debt Instrument [Line Items]
Consolidated total leverage ratio		5.40
$1.0 Billion Term Loan Agreement \| Unsecured Debt \| Maximum
Debt Instrument [Line Items]
Consolidated total leverage ratio		5.65
Three-Year Term Loan Facility \| Unsecured Debt
Debt Instrument [Line Items]
Aggregate principal amount		$ 400,000,000
Debt instrument term		3 years
Five-Year Term Loan Facility \| Unsecured Debt
Debt Instrument [Line Items]
Aggregate principal amount		$ 600,000,000
Debt instrument term		5 years
Repayments of unsecured debt			$ 30,000,000	$ 87,500,000	$ 180,000,000	$ 22,500,000	$ 320,000,000
Five-Year Term Loan Facility \| Unsecured Debt \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Debt stated interest rate		5.00%
Debt instrument term		2 years
Five-Year Term Loan Facility \| Unsecured Debt \| Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Debt stated interest rate		10.00%
Five-Year Term Loan Facility \| Unsecured Debt \| Minimum \| SOFR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		1.00%
Five-Year Term Loan Facility \| Unsecured Debt \| Minimum \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		0.00%
Five-Year Term Loan Facility \| Unsecured Debt \| Maximum \| SOFR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		1.875%
Five-Year Term Loan Facility \| Unsecured Debt \| Maximum \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		0.875%
Revolving Production Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity									$ 250,000,000
Potential additional incremental commitment									$ 150,000,000
Production Financing Facilities
Debt Instrument [Line Items]
Debt instrument term			2 years
Weighted average interest rate			5.90%

Financial Instruments - Production Financing Loans (Details) - USD ($) $ in Millions	Apr. 02, 2023	Dec. 25, 2022	Mar. 27, 2022
Debt Disclosure [Abstract]
Production financing	$ 183.5	$ 195.6	$ 199.1

Financial Instruments - Schedule of Production Financing Loans, Currencies Denomination (Details) - Apr. 02, 2023 $ in Millions, $ in Millions	USD ($)	CAD ($)
Line of Credit Facility [Line Items]
Production financing loan and other loans	$ 183.5
Canadian Dollars
Line of Credit Facility [Line Items]
Production financing loan and other loans		$ 14.8
U.S. Dollars
Line of Credit Facility [Line Items]
Production financing loan and other loans	$ 168.7

Financial Instruments - Schedule of Production Financing Loans (Details) $ in Millions	3 Months Ended
	Apr. 02, 2023 USD ($)
Production Financing
Production financing loans, beginning balance	$ 195.6
Drawdowns	42.8
Repayments	(54.8)
Foreign exchange differences	(0.1)
Production financing loans, ending balance	$ 183.5

Investments in Productions and Investments in Acquired Content Rights - Program Production Costs (Details) - USD ($) $ in Millions	Apr. 02, 2023	Dec. 25, 2022	Mar. 27, 2022
Individual Monetization
Released, net of amortization	$ 613.3	$ 584.5	$ 489.1
Completed and not released	53.0	23.3	12.7
In production	85.8	199.4	157.8
Pre-production	126.4	41.3	87.7
Individual monetization, costs	878.5	848.5	747.3
Film/TV Group Monetization
Released, net of amortization	17.6	25.8	31.5
In production	24.0	22.2	15.8
Total film costs	41.6	48.0	47.3
Investment in Other Programming
Released, net of amortization	13.2	9.8	5.2
Completed and not released	0.0	0.0	0.4
In production	8.2	11.8	14.4
Pre-production	3.9	3.3	1.8
Other programming costs	25.3	24.9	21.8
Total Program Investments	$ 945.4	$ 921.4	$ 816.4

Investments in Productions and Investments in Acquired Content Rights - Program Costs Amortization (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Mar. 27, 2022
Product Information [Line Items]
Program cost amortization	$ 122.5	$ 138.5
eOne
Product Information [Line Items]
Program cost amortization	122.5
eOne \| Investment in Production
Product Information [Line Items]
Program cost amortization	110.9
eOne \| Investment in Content
Product Information [Line Items]
Program cost amortization	$ 11.6

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Apr. 02, 2023	Mar. 27, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate	(3.40%)	21.60%
Discrete income tax expense (benefit)	$ 3.3	$ (2.3)

Fair Value of Financial Instruments - Fair Value Hierarchy (Details) - USD ($) $ in Millions	Apr. 02, 2023	Dec. 25, 2022	Mar. 27, 2022
Assets:
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other current assets, Assets, Noncurrent, Excluding Property, Plant, And Equipment And Finance Lease Right-of-Use Asset, After Accumulated Depreciation And Amortization	Prepaid expenses and other current assets, Assets, Noncurrent, Excluding Property, Plant, And Equipment And Finance Lease Right-of-Use Asset, After Accumulated Depreciation And Amortization	Prepaid expenses and other current assets, Assets, Noncurrent, Excluding Property, Plant, And Equipment And Finance Lease Right-of-Use Asset, After Accumulated Depreciation And Amortization
Fair value, recurring
Assets:
Available-for-sale securities	$ 1.3	$ 1.7	$ 1.6
Derivatives	3.2	7.9	9.9
Total assets	4.5	9.6	11.5
Liabilities:
Derivatives	5.2	2.9	4.6
Option agreement	1.7	1.7	1.7
Total liabilities	6.9	4.6	6.3
Fair value, recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Available-for-sale securities	1.3	1.7	1.6
Derivatives	0.0	0.0	0.0
Total assets	1.3	1.7	1.6
Liabilities:
Derivatives	0.0	0.0	0.0
Option agreement	0.0	0.0	0.0
Total liabilities	0.0	0.0	0.0
Fair value, recurring \| Significant Other Observable Inputs (Level 2)
Assets:
Available-for-sale securities	0.0	0.0	0.0
Derivatives	3.2	7.9	9.9
Total assets	3.2	7.9	9.9
Liabilities:
Derivatives	5.2	2.9	4.6
Option agreement	0.0	0.0	0.0
Total liabilities	5.2	2.9	4.6
Fair value, recurring \| Significant Unobservable Inputs (Level 3)
Assets:
Available-for-sale securities	0.0	0.0	0.0
Derivatives	0.0	0.0	0.0
Total assets	0.0	0.0	0.0
Liabilities:
Derivatives	0.0	0.0	0.0
Option agreement	1.7	1.7	1.7
Total liabilities	$ 1.7	$ 1.7	$ 1.7

Fair Value of Financial Instruments - Reconciliation of Level 3 Fair value (Details) - USD ($) $ in Millions	Apr. 02, 2023	Dec. 25, 2022	Mar. 27, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of year	$ (1.7)	$ (1.7)	$ (1.7)
Balance at end of first quarter	$ (1.7)	$ (1.7)	$ (1.7)

Derivative Financial Instruments - Schedule of Cash Flow Hedging Instruments (Details) - Designated as Hedging Instrument - Cash Flow Hedging - USD ($) $ in Millions	Apr. 02, 2023	Dec. 25, 2022	Mar. 27, 2022
Derivative [Line Items]
Notional Amount	$ 339.7	$ 382.3	$ 489.2
Fair Value	(3.9)	0.0	7.9
Inventory purchases
Derivative [Line Items]
Notional Amount	141.5	166.3	196.9
Fair Value	(5.1)	(2.7)	7.8
Sales
Derivative [Line Items]
Notional Amount	74.5	99.2	104.3
Fair Value	0.4	1.2	(2.4)
Production financing and other
Derivative [Line Items]
Notional Amount	123.7	116.8	188.0
Fair Value	$ 0.8	$ 1.5	$ 2.5

Derivative Financial Instruments - Schedule of Foreign Currency Forward Contracts Designated as Cash Flow Hedges (Details) - Designated as Hedging Instrument - USD ($) $ in Millions	Apr. 02, 2023	Dec. 25, 2022	Mar. 27, 2022
Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Unrealized gains	$ 2.7	$ 4.3	$ 12.7
Unrealized losses	(1.8)	(1.8)	(2.8)
Net unrealized gains	0.9	2.5	9.9
Other assets
Derivatives, Fair Value [Line Items]
Unrealized gains	0.0	0.3	0.0
Unrealized losses	0.0	0.0	0.0
Net unrealized gains	0.0	0.3	0.0
Accrued liabilities
Derivatives, Fair Value [Line Items]
Unrealized gains	2.5	1.6	0.9
Unrealized losses	(7.3)	(4.4)	(2.7)
Net unrealized gains	(4.8)	(2.8)	(1.8)
Other liabilities
Derivatives, Fair Value [Line Items]
Unrealized gains	0.0	0.0	0.0
Unrealized losses	0.0	0.0	(0.2)
Net unrealized gains	$ 0.0	$ 0.0	$ (0.2)

Derivative Financial Instruments - Schedule of Net Gains (Losses) on Cash Flow Hedges Activities (Details) - Cash Flow Hedging - Foreign Exchange Forward - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Mar. 27, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Effective portion, amount of net gains (losses) reclassified from other comprehensive earnings into earnings	$ 2.4	$ (1.3)
Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Effective portion, amount of net gains (losses) reclassified from other comprehensive earnings into earnings	2.5	(0.4)
Net revenues
Derivative Instruments, Gain (Loss) [Line Items]
Effective portion, amount of net gains (losses) reclassified from other comprehensive earnings into earnings	0.1	(0.4)
Other
Derivative Instruments, Gain (Loss) [Line Items]
Effective portion, amount of net gains (losses) reclassified from other comprehensive earnings into earnings	$ (0.2)	$ (0.5)

Derivative Financial Instruments - Narrative (Details) - Foreign Exchange Forward - Fair Value Hedging - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Mar. 27, 2022	Dec. 25, 2022
Derivative [Line Items]
Net gains on derivative	$ 4.4	$ (2.6)
Not Designated as Hedging Instrument
Derivative [Line Items]
Notional amount	$ 723.3	$ 665.0	$ 765.6

Derivative Financial Instruments - Fair Values of Undesignated Derivative Financial Instruments (Details) - Foreign Exchange Forward - Not Designated as Hedging Instrument - USD ($) $ in Millions	Apr. 02, 2023	Dec. 25, 2022	Mar. 27, 2022
Derivatives, Fair Value [Line Items]
Net unrealized gains	$ 1.9	$ 5.0	$ (2.6)
Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Unrealized gains	6.5	10.9	0.0
Unrealized losses	(4.3)	(5.9)	0.0
Net unrealized gains	2.2	5.0	0.0
Accrued liabilities
Derivatives, Fair Value [Line Items]
Unrealized gains	0.0	0.0	6.6
Unrealized losses	(0.3)	0.0	(9.2)
Net unrealized gains	$ (0.3)	$ 0.0	$ (2.6)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Apr. 02, 2023	Mar. 27, 2022
Lessee, Lease, Description [Line Items]
Operating lease expense	$ 23.5	$ 22.3
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	15 years

Leases - Lease Cost (Details) - USD ($) $ in Millions	3 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Millions	Apr. 02, 2023	Mar. 27, 2022
Leases [Abstract]
Operating cash flows from operating leases	$ 12.8	$ 13.4
Right-of-use assets obtained in exchange for lease obligations, operating leases net of lease modifications	$ 65.6	$ 9.1
Weighted average remaining lease term, operating leases	7 years 3 months 18 days	5 years 4 months 24 days
Weighted average discount rate, operating leases	3.70%	2.90%

Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Millions	Apr. 02, 2023	Dec. 25, 2022	Mar. 27, 2022
Leases [Abstract]
2022 (excluding the three months ended April 2, 2023)	$ 34.4
2024	39.4
2025	33.2
2026	27.8
2027	19.6
2028 and thereafter	69.2
Total future lease payments	223.6
Less imputed interest	36.4
Present value of future operating lease payments	187.2
Less current portion of operating lease liabilities	37.9	$ 39.6	$ 45.0
Non-current operating lease liability	149.3
Operating lease right-of-use assets, net	$ 174.5
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities	Accrued liabilities	Accrued liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other liabilities
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, plant and equipment, less accumulated depreciation of $637.8 million, $641.5 million and $654.5 million

Segment Reporting - Narrative (Details) $ in Millions	3 Months Ended
Segment Reporting - Narrative (Details) $ in Millions	Apr. 02, 2023 USD ($) segment	Mar. 27, 2022 USD ($)
Segment Reporting [Abstract]
Number of reportable segments \| segment	3
Revenue from External Customer [Line Items]
Net revenues	$ 1,001.0	$ 1,163.1
Gaming Including DUNGEONS & DRAGONS, MAGIC: THE GATHERING and Hasbro Gaming
Revenue from External Customer [Line Items]
Net revenues	386.5	378.8
MAGIC: THE GATHERING
Revenue from External Customer [Line Items]
Net revenues	$ 229.1	$ 197.2

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

+ Details

Segment Reporting - Net Revenues by Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Mar. 27, 2022
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	$ 1,001.0	$ 1,163.1
Affiliate Revenue	0.0	0.0
Corporate and Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	0.0	0.0
Affiliate Revenue	(134.2)	(135.6)
Consumer Products
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	520.4	672.8
Consumer Products \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	520.4	672.8
Affiliate Revenue	73.3	91.9
Wizards of the Coast and Digital Gaming
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	295.2	262.8
Wizards of the Coast and Digital Gaming \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	295.2	262.8
Affiliate Revenue	47.8	29.8
Entertainment
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	185.4	227.5
Entertainment \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	185.4	227.5
Affiliate Revenue	$ 13.1	$ 13.9

- Definition

Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
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-Publisher FASB
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-Paragraph 2
-Subparagraph (SX 210.5-03.1(e))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Segment Reporting - Operating Profit (Loss) by Segments (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Mar. 27, 2022
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss)	$ 17.9	$ 120.0
Corporate and Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss)	(4.2)	(7.2)
Consumer Products \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss)	(46.0)	8.6
Wizards of the Coast and Digital Gaming \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss)	76.8	106.4
Entertainment \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss)	$ (8.7)	$ 12.2

Segment Reporting - Total Assets by Segments (Details) - USD ($) $ in Millions	Apr. 02, 2023	Dec. 25, 2022	Mar. 27, 2022
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 8,923.7	$ 9,295.9	$ 9,518.7
Corporate and Other
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	(6,139.1)	(5,703.8)	(3,391.3)
Consumer Products \| Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	5,533.3	5,757.7	4,817.9
Wizards of the Coast and Digital Gaming \| Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	3,256.8	2,968.7	1,877.7
Entertainment \| Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 6,272.7	$ 6,273.3	$ 6,214.4

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

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+ Details

Segment Reporting - Schedule of International Segment Net Revenues by Major Geographic Region (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Mar. 27, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	$ 1,001.0	$ 1,163.1
Consumer Products
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	520.4	672.8
Consumer Products \| North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	279.1	405.2
Consumer Products \| Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	131.6	176.7
Consumer Products \| Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	63.3	52.2
Consumer Products \| Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	$ 46.4	$ 38.7

- Definition

+ References

+ Details

Segment Reporting - Net Revenues by Brand and Entertainment Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Mar. 27, 2022
Revenue from External Customer [Line Items]
Net revenues	$ 1,001.0	$ 1,163.1
Franchise Brands
Revenue from External Customer [Line Items]
Net revenues	613.4	650.4
Partner Brands
Revenue from External Customer [Line Items]
Net revenues	132.7	206.5
Portfolio Brands
Revenue from External Customer [Line Items]
Net revenues	92.0	112.6
Non-Hasbro Branded Film & TV
Revenue from External Customer [Line Items]
Net revenues	162.9	193.6
Wizards of the Coast and Digital Gaming
Revenue from External Customer [Line Items]
Net revenues	295.2	262.8
Wizards of the Coast and Digital Gaming \| Tabletop Gaming
Revenue from External Customer [Line Items]
Net revenues	217.9	192.2
Wizards of the Coast and Digital Gaming \| Digital and Licensed Gaming
Revenue from External Customer [Line Items]
Net revenues	77.3	70.6
Entertainment
Revenue from External Customer [Line Items]
Net revenues	185.4	227.5
Entertainment \| Film & TV
Revenue from External Customer [Line Items]
Net revenues	168.4	190.2
Entertainment \| Family Brands
Revenue from External Customer [Line Items]
Net revenues	17.0	23.2
Entertainment \| Music and Other
Revenue from External Customer [Line Items]
Net revenues	$ 0.0	$ 14.1

Restructuring Actions - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Apr. 02, 2023	Dec. 25, 2022
2018 And 2020 Restructuring Actions
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	$ 8.2
Payments for restructuring	$ 0.9
Operational Excellence Program
Restructuring Cost and Reserve [Line Items]
Severance and other employee charges		$ 94.1

Restructuring Actions - Schedule of Restructuring and Related Costs (Details) - Operational Excellence Program $ in Millions	3 Months Ended
	Apr. 02, 2023 USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 84.9
Payments for restructuring	(16.2)
Ending balance	$ 68.7