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Hasbro (HAS)

Document and Entity Information

Document and Entity Information - shares3 Months Ended
Apr. 01, 2018Apr. 23, 2018
Document and Entity Information [Abstract]
Entity Registrant NameHASBRO INC
Entity Central Index Key46,080
Current Fiscal Year End Date--12-30
Entity Well-known Seasoned IssuerYes
Entity Voluntary FilersNo
Entity Current Reporting StatusYes
Entity Filer CategoryLarge Accelerated Filer
Entity Common Stock, Shares Outstanding124,937,746
Document Fiscal Year Focus2,018
Document Fiscal Period FocusQ1
Document Type10-Q
Amendment Flagfalse
Document Period End DateApr. 1,
2018
Trading SymbolHAS

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in ThousandsApr. 01, 2018Dec. 31, 2017Apr. 02, 2017
Current assets
Cash and cash equivalents $ 1,598,944 $ 1,581,234 $ 1,463,081
Accounts receivable, less allowance for doubtful accounts of $94,300, $31,400 and $13,200 as of April 1, 2018, December 31, 2017 and April 2, 2017, respectively612,698 1,405,399 676,945
Inventories517,439 433,293 416,232
Prepaid expenses and other current assets292,756 214,000 243,475
Total current assets3,021,837 3,633,926 2,799,733
Property, plant and equipment, less accumulated depreciation of $436,600, $422,100 and $392,900 as of April 1, 2018, December 31, 2017 and April 2, 2017, respectively262,418 259,710 270,023
Other assets
Goodwill573,574 573,063 570,937
Other intangibles, net, accumulated amortization of $911,300, $904,900 and $883,900 as of April 1, 2018, December 31, 2017 and April 2, 2017, respectively210,904 217,382 238,069
Other660,339 605,902 767,108
Total other assets1,444,817 1,396,347 1,576,114
Total assets4,729,072 5,289,983 4,645,870
Current liabilities
Short-term borrowings21,611 154,957 65,294
Current portion of long-term debt0 0 349,814
Accounts payable256,433 348,476 241,214
Accrued liabilities574,482 748,264 545,492
Total current liabilities852,526 1,251,697 1,201,814
Long-term debt1,693,977 1,693,609 1,198,896
Other liabilities611,210 514,720 393,516
Total liabilities3,157,713 3,460,026 2,794,226
Shareholders' equity
Preference stock of $2.50 par value. Authorized 5,000,000 shares; none issued0 0 0
Common stock of $0.50 par value. Authorized 600,000,000 shares; issued 209,694,630 at April 1, 2018, December 31, 2017, and April 2, 2017104,847 104,847 104,847
Additional paid-in capital1,053,368 1,050,605 1,008,737
Retained earnings4,090,637 4,260,222 4,145,469
Accumulated other comprehensive loss(292,395)(239,425)(197,171)
Treasury stock, at cost; 84,706,373 shares at April 1, 2018; 85,244,923 shares at December 31, 2017; and 84,685,145 shares at April 2, 2017(3,385,098)(3,346,292)(3,210,238)
Total shareholders' equity1,571,359 1,829,957 1,851,644
Total liabilities and shareholders' equity $ 4,729,072 $ 5,289,983 $ 4,645,870

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) Parenthetical - USD ($) $ in ThousandsApr. 01, 2018Dec. 31, 2017Apr. 02, 2017
Current assets
Accounts receivable, allowance for doubtful accounts $ 94,300 $ 31,400 $ 13,200
Property, plant and equipment, accumulated depreciation436,600 422,100 392,900
Other assets
Other intangibles, accumulated amortization $ 911,300 $ 904,900 $ 883,900
Shareholders' equity
Preference stock, par value (in dollars per share) $ 2.5 $ 2.5 $ 2.5
Preference stock, authorized shares (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) $ 0.5 $ 0.5 $ 0.5
Common stock, authorized shares (in shares)600,000,000 600,000,000 600,000,000
Common stock, issued (in shares)209,694,630 209,694,630 209,694,630
Treasury stock, at cost; shares (in shares)84,706,373 85,244,923 84,685,145

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands3 Months Ended
Apr. 01, 2018Apr. 02, 2017
Consolidated Statements of Operations (Unaudited) [Abstract]
Net revenues $ 716,341 $ 849,663
Costs and expenses
Cost of sales255,187 306,082
Royalties69,652 64,380
Product development57,384 62,586
Advertising68,016 80,936
Amortization of intangibles6,478 7,881
Program production cost amortization12,034 5,570
Selling, distribution and administration328,009 243,885
Total costs and expenses796,760 771,320
Operating Profit (Loss)(80,419)78,343
Non-operating (income) expense
Interest Expense22,809 24,456
Interest income(6,248)(5,564)
Other income, net(8,592)(11,386)
Total non-operating expense, net7,969 7,506
Earnings (loss) before income taxes(88,388)70,837
Income tax expense24,104 2,238
Net earnings (loss) $ (112,492) $ 68,599
Net earnings (loss) per common share:
Basic (in dollars per share) $ (0.9) $ 0.55
Diluted (in dollars per share)(0.9)0.54
Cash dividends declared per common share (in dollars per share) $ 0.63 $ 0.57

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Earnings - USD ($) $ in Thousands3 Months Ended
Apr. 01, 2018Apr. 02, 2017
Consolidated Statements of Comprehensive Earnings (Loss) [Abstract]
Net earnings (loss) $ (112,492) $ 68,599
Other comprehensive earnings (loss):
Foreign currency translation adjustments12,829 24,673
Net losses on cash flow hedging activities, net of tax(25,270)(23,317)
Unrealized holding losses on available-for-sale securities, net of tax(143)(31)
Changes in unrecognized pension and postretirement amounts, net of tax(26,058)0
Reclassifications to earnings (loss), net of tax:
Net losses (gains) on cash flow hedging activities5,355 (5,374)
Unrecognized pension and postretirement amounts1,820 1,448
Total other comprehensive loss, net of tax(31,467)(2,601)
Comprehensive earnings (loss) $ (143,959) $ 65,998

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands3 Months Ended
Apr. 01, 2018Apr. 02, 2017
Cash flows from operating activities
Net earnings (loss) $ (112,492) $ 68,599
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation of plant and equipment26,221 27,702
Amortization of intangibles6,478 7,881
Program production cost amortization12,034 5,570
Deferred income taxes(16,437)13,428
Stock-based compensation10,291 10,844
Other non-cash items(4,971)(5,498)
Change in operating assets and liabilities net of acquired and disposed balances:
Decrease in accounts receivable808,367 660,253
Increase in inventories(76,516)(21,377)
Increase in prepaid expenses and other current assets(78,540)(7,200)
Program production costs(11,398)(11,738)
Decrease in accounts payable and accrued liabilities(297,669)(342,533)
Changes in net deemed repatriation tax75,805 0
Other(23,434)5,997
Net cash provided by operating activities317,739 411,928
Cash flows from investing activities
Additions to property, plant and equipment(28,235)(30,243)
Other2,007 (781)
Net cash utilized by investing activities(26,228)(31,024)
Cash flows from financing activities
Net repayments of other short-term borrowings(133,698)(107,336)
Purchases of common stock(38,126)(19,312)
Stock-based compensation transactions19,518 9,743
Dividends paid(70,781)(63,404)
Payments related to tax withholding for share-based compensation(52,637)(31,391)
Net cash utilized by financing activities(275,724)(211,700)
Effect of exchange rate changes on cash1,923 11,592
Increase in cash and cash equivalents17,710 180,796
Cash and cash equivalents at beginning of year1,581,234 1,282,285
Cash and cash equivalents at end of period1,598,944 1,463,081
Supplemental information
Interest28,699 31,446
Income taxes $ 42,481 $ 31,571

Basis of Presentation

Basis of Presentation3 Months Ended
Apr. 01, 2018
Basis of Presentation [Abstract]
Basis of Presentation( 1 ) 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 1, 2018 and April 2, 2017 , and the results of its operations and cash flows for the periods then ended in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and notes thereto. Actual results could differ from those estimates. The quarter ended April 1, 2018 was a 13-week period. The quarter ended April 2, 2017 was a 14-week period. The results of operations for the quarter are not necessarily indicative of re sults to be expected for the full year, nor were those of the comparable 2017 period representative of those actually experienced for the full year 2017 . These condensed consolidated financial statements have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. 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 audited consolidated financial statements for the fiscal year ended December 31, 2017 in its Annual Report on Form 10-K (“2017 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 The Company's accounting policies ar e the same as those described in Note 1 to the Company's consolidated financial statements in its 2017 Form 10-K with the exception of the accounting policies related to revenue recognition, reclassification of disproportionate tax effects from accumula ted other comprehensive income (“AOCI”) caused by the Tax Cuts and Jobs Act of 2017 and the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. On January 1, 2018, the Company adopted Financial Accounting Standards Boa rd (“FASB”) Accounting Standards Codification Topic 606, Revenue from Contracts with Customers (ASC 606 or the New Revenue Standard) using the modified retrospective method. ASC 606 supersedes the revenue recognition requirements in ASC 605 – Revenue Recognition and most industry-specific guidance in U.S. GAAP. The New Revenue Standard provides a five-step model for analyzing contracts and transactions to determine when, how, and if revenue is recognized. Revenue should be recognized to depict the tran sfer of promised goods or services to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods or services. The cumulative impact of the adoption of the New Revenue Standard was not mater ial to the Company therefore the Company did not record any adjustments to retained earnings. This was determined by analyzing contracts not completed as of January 1, 2018. The Comparative information has not been restated and continues to be reported u nder the accounting standards in effect for those periods. For further details, see Note 2. Revenue recognition from the sale of finished product to customers, which is the majority of the Company’s revenues, did not change under the new standard and the Company does not expect material changes in the future as a result of the New Revenue Standard related to the sale of finished product to its customers. Within the Company’s Entertainment and Licensing segment, the timing of revenue recognition for minimu m guarantees that the Company receives from licensees is impacted by the New Revenue Standard. Prior to the adoption of ASC 606, for licenses of the Company’s brands that are subject to minimum guaranteed license fees, the Company recognized the differenc e between the minimum guaranteed amount and the actual royalties earned from licensee merchandise sales (“shortfalls”) at the end of the contract period, which was in the fourth quarter for most of the Company’s licensee arrangements. In periods following January 1, 2018, minimum guaranteed amounts will be recognized on a straight-line basis over the license period. While the impact of this change will not be material to the year, it will impact the timing of revenue recognition within the Company’s Enterta inment and Licensing segment such that under ASC 606, less revenues will be recorded in the fourth quarter and more revenues will be recorded within the first, second, and third quarters. No other areas of the Company’s business were materially impacted by the New Revenue Standard. In February 2018, the FASB issued Accounting Standards Update No. 2018-02 (ASU 2018-02), Income Statement -Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The standard provides for a reclassification from accumulated other comprehensive income (“AOCI”) to retained earnings, of disproportionate income tax effects arising from the impact of the Tax Cuts and Jobs Act of 2017 . For public companies, this standard is effective for annual reporting periods beginning after December 15, 2018. Early adoption is permitted. The Company adopted ASU 2018-02 in the first quarter of 2018. The impact of the adoption resulted in a one-time reclassification in the amo unt of $ 21,503 from AOCI with a corresponding credit to retained earnings. In March 2017, the FASB issued Accounting Standards Update No. 2017-07 (ASU 2017-07), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Bene fit Cost. The standard requires companies to present the service cost component of net benefit cost in the income statement line items where they report compensation cost. Companies will present all other components of net benefit cost outside operating i ncome, if this subtotal is presented. For public companies, this standard was effective for annual reporting periods beginning after December 15, 2017, and early adoption was permitted. The Company adopted this standard in the first quarter of 2018 and the adoption of this standard did not have a material impact on the Company’s results or consolidated financial statements in the first quarter of 2018. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (ASC 230) – Classification of Certain Cash Receipts and Cash Payments . The new guidance is intended to reduce diversity in practice across all industries, in how certain transactions are classified in the statement of cash flows. ASU 2016-15 was effective for public companies for fisca l years beginning after December 15, 2017. The Company adopted this standard in 2018 and the adoption of this standard did not have an impact on the Company’s statement of cash flows for the quarters ended April 1, 2018 and April 2, 2017. In October 2016 , the FASB issued Accounting Standards Update No. 2016-16 (ASU 2016-16), Accounting for Income Taxes: Intra-Entity Transfers of Assets Other Than Inventory . For public companies, this standard was effective for annual reporting periods beginning after Dece mber 15, 2017, and early adoption is permitted. The standard requires that the income tax impact of intra-entity sales and transfers of property, except for inventory, be recognized when the transfer occurs requiring any deferred taxes not yet recognized o n intra-entity transfers to be recorded to retained earnings. The Company adopted this standard in the first quarter of 2018 and the adoption did not have an impact on the Company’s results or consolidated financial statements.

Revenue Recognition

Revenue Recognition3 Months Ended
Apr. 01, 2018
Revenue Recognition [Abstract]
Revenue Recognition Policy( 2 ) Revenue Recognition Revenue Recognition Revenue is recognized when control of the promised goods is transferred to the customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for transferring those goods. The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance, and collectability of consideration is probab le. Toy and Games The majority of the Company’s revenues are derived from sales of finished products to customers. Revenues from sales of finished products to customers accounted for 90 % and 92 % of the Company’s revenues for the quarters ended April 1, 20 18 and April 2, 2017, respectively. When determining whether control of the finished products has transferred to the customer, the Company considers any future performance obligations. Generally, the Company has no post-shipment obligation on sales of fi nished products to customers and revenues from product sales are recognized upon passing of title to the customer, which is generally at the time of shipment. Any shipping and handling activities that are performed by the Company, whether before or after a customer has obtained control of the products, are considered activities to fulfill our obligation to transfer the products, and are recorded as incurred within selling, distribution, and administration expenses. For the quarters ended April 1, 2018 and A pril 2, 2017, these costs were $ 41,486 and $ 36,609 , respectively. The Company offers various discounts, rebates, allowances, returns, and markdowns to its customers, (collectively, “allowances”), all of which are considered when determining the transactio n price. Certain allowances are fixed and determinable at the time of sale and are recorded at the time of sale as a reduction to revenues. Other allowances can vary depending on future outcomes such as customer sales volume (“variable consideration”). The Company estimates the amount of variable consideration using the expected value method. In estimating the amount of variable consideration using the expected value method, the Company considers various factors including but not limited to: customer te rms, historical experience, any expected deviations from historical experience, and existing or expected market conditions. The Company then records an estimate of variable consideration as a reduction to revenues at the time of sale. The Company adjusts its estimate of variable consideration at least quarterly or when facts and circumstances used in the estimation process may change. Historically, adjustments to estimated variable consideration have not been material. Entertainment and Licensing Revenue s within the Company’s Entertainment and Licensing segment, which accounted for 9 % and 6 % of the Company’s revenues for the quarters ended April 1, 2018 and April 2, 2017, respectively, are recorded either over a period of time or at a point in time. The Company enters into contracts to license its intellectual property, which consists of its brands, in various channels including but not limited to: consumer products such as apparel or home goods, within formats such as on-line games, within venues such as theme parks, or within formats such as motion picture films. The licensees pay the Company either a sales-based or usage-based royalty, or a combination of both, for use of the brands, in some cases subject to minimum guaranteed amounts or fixed fees. T he license of the Company’s brands provide access to the intellectual property over the term of the license, generally without any other performance obligation of the Company other than keeping the intellectual property active, and is therefore considered a right-to-access license of symbolic intellectual property. The Company records sales-based or usage-based royalty revenues for right-to-access licenses at the occurrence of the licensees’ subsequent sale or usage. When the arrangement includes a minimum guarantee, the Company records the minimum guarantee on a ratable basis over the term of the license period and does not record the sales-based or usage-based royalty revenues until they exceed the minimum guarantee. The Company also produces television or streaming programming for licensing to third parties. The licensees typically pay a fixed fee for the license of the produced content. The content that the Company delivers to its licensees has stand-alone functionality, generally without any other pe rformance obligation of the Company, and is therefore considered a right-to-use license of functional intellectual property. The Company records revenues for right-to-use licenses once the license period has commenced and the licensee has the ability to u se the delivered content. In arrangements where the licensee pays the Company a fixed fee for multiple seasons or multiple series of programming, arrangement fees are recorded as revenues based upon their relative fair values. As of April 1, 2018, the Co mpany did not have any material future performance commitments for film streaming or television orders that have not yet been delivered. The Company also develops application based digital games featuring its brands within the games. These games are hoste d by third-party platform providers. The Company does not charge a fee to the end users for the download of the games or the ability to play the games. The end users make in-application purchases of digital currencies, via the Company’s platform provider s, with such purchased digital currencies to be used in the games. The Company records revenues from in-application purchases based on the spending patterns of the players. For the majority of the Company’s digital games, players spend their currencies i n the month of purchase, and therefore revenues are recorded at the time of sale. The Company has no additional performance obligations other than delivery of the currency via its platform providers. The Company controls all aspects of the goods delivere d to the consumer. The third-party platform providers are providing only the service of hosting and administering receipt from the end users. The Company is the principal in the arrangement and revenues are recorded in net revenues inclusive of the fees charged by the third-party platform providers. The fee charged by the third-party platform providers to the Company are recorded within cost of sales. Contract Assets and Liabilities A contract asset is defined as an entity's right to consideration for go ods or services that the entity has transferred to a customer. A contract liability is defined to occur if the customer's payment of consideration precedes the entity's performance and represents the entity's obligation to transfer goods or services to a customer for which the entity has received consideration. The Company occasionally will require payment from customers for finished product in advance of the customer receiving control of the finished product. In these situations, the Company defers reve nue on the advanced payment until the customer has control of the finished product, generally within the next month. Within our Entertainment and Licensing segment, the Company may receive royalty payments from licensees in advance of the licensees’ subse quent sales to their customers, or in advance of the Company’s performance obligation being satisfied. The Company defers revenues on these advanced payments until its performance obligation is satisfied. The aggregate deferred revenues are recorded as l iabilities and are not material to the Company’s consolidated balance sheets as of April 1, 2018 and December 31, 2017, and the changes in deferred revenues are not material to the Company’s consolidated statement of operations for the quarter ended April 1, 2018. The Company historically has not recorded contract assets and does not currently expect to record any material contract assets in the future. Accounts Receivable and Allowance for Doubtful Accounts The Company’s accounts receivable on the conso lidated balance sheets as of April 1, 2018, April 2, 2017 and Dec ember 31, 2017 are materially from contracts with customers. In the quarter ended April 1, 2018, the Company recorded a bad debt charge of $ 59,115 related to a significant customer. The Comp any had no other material bad debt expense in the quarters ended April 1, 2018 and April 2, 2017 . Disaggregation of revenues The Company disaggregates its revenues from contracts with customers by segment: US and Canada, International, Entertainment and Licensing, and Global Operations. The Company further disaggregates revenues within its International segment by major geographic region: Europe, Latin America, and Asia Pacific. Finally, the Company disaggregates its revenues by brand portfolio into fou r brand categories: Franchise brands, Partner brands, Hasbro gaming, and Emerging brands. We believe these collectively depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. See Note 10, Segment Reporting, for further information.

Earnings Per Share

Earnings Per Share3 Months Ended
Apr. 01, 2018
Earnings (Loss) Per Share (Thousands of Dollars and Shares Except Per Share Data) [Abstract]
Earnings (Loss) Per Share(3 ) Earnings (Loss) Per Share Net earnings (loss) per share data for the quarter s ended April 1, 2018 and April 2, 2017 were computed as follows: 2018 2017 Quarter Basic Diluted Basic Diluted Net earnings (loss) $ (112,492) (112,492) 68,599 68,599 Average shares outstanding 125,073 125,073 125,182 125,182 Effect of dilutive securities: Options and other share-based awards - - - 2,047 Equivalent Shares 125,073 125,073 125,182 127,229 Net earnings (loss) per common share $ (0.90) (0.90) 0.55 0.54 For the quarter s ended April 1, 2018 and April 2, 2017 , options and restricted stock units totaling 3,191 and 638, respectively, were excluded from the calculation of diluted earnings per share because to include the m would have been antidilutive. Of this amount 1,993 would have been included in the calculation of diluted shares had the Company not had a net loss in the first quarter of 2018. Assuming that these awards and options were included, under the treasury stock method, they w ould have resulted in an additional 1,022 shares being included in the diluted earnings per share calculation for the quarter ended April 1, 2018.

Other Comprehensive Earnings (L

Other Comprehensive Earnings (Loss)3 Months Ended
Apr. 01, 2018
Other Comprehensive Earnings (Loss) [Abstract]
Other Comprehensive Earnings (Loss)(4 ) 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 earn ings (loss) for the quarters ended April 1, 2018 and April 2, 2017 . Quarter Ended April 1, April 2, 2018 2017 Other comprehensive earnings (loss), tax effect: Tax benefit on unrealized holding losses $ 41 18 Tax benefit on cash flow hedging activities 5,980 5,310 Tax benefit on changes in unrecognized pension amounts 7,565 - Reclassifications to earnings, tax effect: Tax benefit on cash flow hedging activities (794) (369) Tax benefit on unrecognized pension and postretirement amounts reclassified to the consolidated statements of operations (528) (822) Total tax effect on other comprehensive earnings (loss) $ 12,264 4,137 Changes in the components of accumulated other comprehensive loss for the three months ended April 1, 2018 and April 2, 2017 are as follows: Unrealized Holding Total Gains Gains on Foreign Accumulated Pension and (Losses) on Available- Currency Other Postretirement Derivative for-Sale Translation Comprehensive Amounts Instruments Securities Adjustments Loss 2018 Balance at December 31, 2017 $ (110,971) (32,827) 1,034 (96,661) (239,425) Adoption of ASU 2018-02 (18,065) (3,660) 222 - (21,503) Current period other comprehensive earnings (loss) (24,238) (19,915) (143) 12,829 (31,467) Balance at April 1, 2018 $ (153,274) (56,402) 1,113 (83,832) (292,395) 2017 Balance at December 25, 2016 $ (118,401) 51,085 1,424 (128,678) (194,570) Current period other comprehensive earnings (loss) 1,448 (28,691) (31) 24,673 (2,601) Balance at April 2, 2017 $ (116,953) 22,394 1,393 (104,005) (197,171) Gains (Losses) on Derivative Instruments At April 1, 2018 , the Company had remaining net deferred losses on foreign currency forward c ontracts, net of tax, of $ 36,046 in accumulated other comprehensive loss ("AOCE"). These instruments hedge payments related to inventory purchased in the first quarter of 2018 or forecasted to be purchased during the remainder of 2018 and, to a lesser extent, 2019 through 2022 , intercompany expenses expected to be paid or received during 2018 and 2019 , cash receipts for sales made at the end of the first quarter of 2018 or forecasted to be made in the remainder of 2018 and, to a lesser exte nt, 2019 through 2020 . These amounts will be reclassified into the consolidated statements of operations upon the sale of the related inventory or recognition of the related sales or expenses. In addition to foreign currency forward contracts, t he Company entered into hedging contracts on future interest payments related to the long-term notes due in 2021 and 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 1, 2018 , deferred losses, net of tax of $ 20,356 related to these instruments remained in AOCE. For the quarters ended April 1, 2018 and April 2, 2017 , losses of $ 450 and $ 484 , respectively , were reclassified from AOCE to net earnings. Of the amount included in AOCE at April 1, 2018 , the Company expects net losses of approximately $ 21,415 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.

Financial Instruments

Financial Instruments3 Months Ended
Apr. 01, 2018
Financial Instruments (Thousands of Dollars) [Abstract]
Financial Instruments(5 ) 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 1, 2018 , April 2, 2017 and December 31, 2017 , the carrying cost of these instruments approximated their fair value. The Company's financial instruments at April 1, 2018 , April 2, 2017 and December 31, 2017 also include certain assets and liabilities mea sured at fair value (see Notes 7 an d 9 ) 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 1, 2018 , April 2, 2017 and December 31, 2017 are as follows: April 1, 2018 April 2, 2017 December 31, 2017 Carrying Fair Carrying Fair Carrying Fair Cost Value Cost Value Cost Value 6.35% Notes Due 2040 $ 500,000 585,400 500,000 597,150 500,000 601,800 3.50% Notes Due 2027 500,000 468,000 - - 500,000 488,300 6.30% Notes Due 2017 - - 350,000 357,385 - - 5.10% Notes Due 2044 300,000 299,460 300,000 306,570 300,000 313,320 3.15% Notes Due 2021 300,000 300,480 300,000 305,490 300,000 302,640 6.60% Debentures Due 2028 109,895 128,006 109,895 125,390 109,895 131,390 Total long-term debt $ 1,709,895 1,781,346 1,559,895 1,691,985 1,709,895 1,837,450 Less: Current portion - - 350,000 357,385 - - Less: Deferred debt expenses 15,918 - 10,999 - 16,286 - Long-term debt $ 1,693,977 1,781,346 1,198,896 1,334,600 1,693,609 1,837,450 Current portion of long-term debt at April 2 , 201 7 of $ 3 49,814 , as shown on the consolidated balance sheet represents the $350,000 principal of 6.30% notes less $ 186 of deferred debt expenses. The fair values of the Company's long-term debt are considered Level 3 fair values (see Note 7 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 di scount 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 li ability. The Company believes that this is the best information available for use in the fair value measurement.

Income Taxes

Income Taxes3 Months Ended
Apr. 01, 2018
Income Taxes (Thousands of Dollars) [Abstract]
Income Taxes(6 ) 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. On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act made broad and complex changes to t he U.S. tax code which impacted 2017 including, but not limited to, reducing the U.S. federal corporate tax rate and requiring a one-time tax on certain unrepatriated earnings of foreign subsidiaries. On December 22, 2017, Staff Accounting Bulletin No. 1 18 (“SAB 118”) established a one-year measurement period to complete the accounting for the ASC 740 income tax effects of the Tax Act. An entity recognizes the impact of those amounts for which the accounting is complete. For matters that have not been c ompleted, provisional amounts are recorded to the extent they can be reasonably estimated. For amounts for which a reasonable estimate cannot be determined, no adjustment is made until such estimate can be completed. For the quarter ended April 1, 2018, the Company obtained additional information affecting the provisional amount initially recorded for the quarter ended December 31, 2017. As a result, the Company recorded a one-time tax expense of $ 47,800 which reversed certain discrete benefits rec orded in 2017 as well as increased our provisional deemed repatriation tax liability. The Company is no longer subject to U.S. federal income tax examinations for years before 2013. With few exceptions, the Company is no longer subject to U.S. state or lo cal and non-U.S. income tax examinations by tax authorities in its major jurisdictions for years before 2012. The Company is currently under income tax examination in several U.S. state and local and non-U.S. jurisdictions.

Fair Value of Financial Instrum

Fair Value of Financial Instruments3 Months Ended
Apr. 01, 2018
Fair Value of Financial Instruments (Thousands of Dollars) [Abstract]
Fair Value of Financial Instruments(7 ) 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 o bservable 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. 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 f or similar assets and liabilities. The Company has elected the fair value option for certain available-for-sale investments. At April 1, 2018 , April 2, 2017 and December 31, 2017 , t hese investments totaled $24,584, $23,603 and $24,436 , respectively, and are included in prepaid expenses and other current assets in the consolidated balance sheets. The Company recorded net gains of $448 and $631 on these investments in other income , net for the quarter s ended April 1, 2018 and April 2, 2017 , resp ectively, related to the change in fair value of such instruments. At April 1, 2018 , April 2, 2017 and December 31, 2017 , the Company had the following assets and liabilities measured at fair value in its consolidated balance sheets (excluding as sets for which the fair value is measured using net asset value per share) : Fair Value Measurements Using: Quoted Prices in Active Markets Significant for Other Significant Identical Observable Unobservable Fair Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) April 1, 2018 Assets: Available-for-sale securities $ 2,941 2,941 - - Derivatives 2,960 - 2,960 - Total assets $ 5,901 2,941 2,960 - Liabilities: Derivatives $ 39,428 - 39,428 - Option agreement 23,665 - - 23,665 Total liabilities $ 63,093 - 39,428 23,665 April 2, 2017 Assets: Available-for-sale securities $ 3,687 3,687 - - Derivatives 56,017 - 56,017 - Total assets $ 59,704 3,687 56,017 - Liabilities: Derivatives $ 20,595 - 20,595 - Option agreement 28,710 - - 28,710 Total liabilities $ 49,305 - 20,595 28,710 December 31, 2017 Assets: Available-for-sale securities $ 3,126 3,126 - - Derivatives 12,226 - 12,226 - Total assets $ 15,352 3,126 12,226 - Liabilities: Derivatives $ 23,051 - 23,051 - Option agreement 23,980 - - 23,980 Total Liabilities $ 47,031 - 23,051 23,980 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 contracts. The Company used 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 in vestment in Discovery Family Channel (“Discovery”). The option agreement is included in other liabilities at April 1, 2018 , April 2, 2017 and December 31, 2017 , and is valued using an option pricing model based on the fair value of the related investmen t. 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 pricin g 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 valua tion techniques during the three -month period ended April 1, 2018 . 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): 2018 2017 Balance at beginning of year $ (23,980) (28,770) Gain from change in fair value 315 60 Balance at end of first quarter $ (23,665) (28,710) In addition to the above, the Company has three investments for which the fair value is measured using net asset value per share. At April 1, 2018 , April 2, 2017 and December 31, 2017 , these investments had fair values of $ 24,584 , $23,603 and $ 24,436 , respectively. Two of the investments have net asset values that are predominantly based on underlying investments which are traded on an active market and are redeemable within 45 days. The third investment invests in hedge funds which are generall y redeemable on a quarterly basis with 30 – 90 days’ notice.

Pension and Postretirement Bene

Pension and Postretirement Benefits3 Months Ended
Apr. 01, 2018
Pension and Postretirement Benefits (Thousands of Dollars) [Abstract]
Pension and Postretirement Benefits(8 ) Pension and Postretirement Benefits The components of the net periodic cost of the Company's defined benefit pension and other postretirement plans for th e quarters ended April 1, 2018 and April 2, 2017 are as follows: Quarter Ended Pension Postretirement April 1, April 2, April 1, April 2, 2018 2017 2018 2017 Service cost $ 685 952 188 172 Interest cost 4,016 4,725 292 295 Expected return on assets (5,205) (6,281) - - Net amortization and deferrals 2,977 2,694 42 - Net periodic benefit cost $ 2,473 2,090 522 467 During the three months ended April 1, 2018 , the Company made cash contributions of $280 to its defined benefit pe nsion plans . During fiscal 2018, t he Company expects to make cash contribut ions to its defined benefit pension plans of approximately $ 1,300 in the aggregate. In February 2018 , the Compensation Committee of the Company’s Board of Directors approved a resolution to terminate the Company’s U.S. defined benefit pension plan (“Plan”). During the first quarter of 2018 the Company commenced t he plan termination process and expects to complete the transfer of the Plan’s assets to a third-party administrator over a period of eighteen months. The decision to terminate the Plan follows the 2015 decision to freeze benefits being accrued covering n on-union employees after the sale of the Company’s manufacturing facility in East Longmeadow, MA. Benefits covering non-union employees were frozen in December 2007 . In connection with the decision to terminate the Plan, the Company remeasured the project ed benefit obligation based on the expected Plan termination costs. This remeasurement utilized a discount rate of 3.2 % compared to the discount rate of 3.7 % utilized in the December 31, 2017 measurement and resulted in an increase in the projected benefit obligation of $ 35,192 with offsetting amounts recorded to accumulated other comprehensi ve losses and deferred taxes. Upon settlement of the pension liability, the Company will reclassify the related pension losses currently recorded to accumulated other comprehensive loss , to the consolidated statements of operations .

Derivative Financial Instrument

Derivative Financial Instruments3 Months Ended
Apr. 01, 2018
Derivative Financial Instruments (Thousands of Dollars) [Abstract]
Derivative Financial Instruments(9 ) Derivative Financial Instruments Hasbro uses foreign currency forward 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 and 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 E uros. 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 Com pany. Hasbro does not enter into derivative financial instruments for speculative purposes. Cash Flow Hedges The Company uses foreign currency forward contracts to reduce the impact of currency rate fluctuations on firmly committed and projected future foreign currency transactions. 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 and other cross-border transactions in 2018 through 2022 . At April 1, 2018 , April 2, 2017 and December 31, 2017 , the notional amounts and fair values of the Company's foreign currency forward contracts designated as cash flow hedging instruments were as follows: April 1, 2018 April 2, 2017 December 31, 2017 Notional Fair Notional Fair Notional Fair Hedged transaction Amount Value Amount Value Amount Value Inventory purchases $ 718,925 (31,453) 974,235 35,711 756,673 (13,695) Sales 375,441 7,323 423,828 1,083 423,315 16,144 Royalties and Other 178,896 (11,602) 324,008 (1,345) 196,889 (10,383) Total $ 1,273,262 (35,732) 1,722,071 35,449 1,376,877 (7,934) 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 1, 2018 , April 2, 2017 and December 31, 2017 as follows: April 1, April 2, December 31, 2018 2017 2017 Prepaid expenses and other current assets Unrealized gains $ 458 23,241 13,666 Unrealized losses (405) (3,204) (10,319) Net unrealized gains $ 53 20,037 3,347 Other assets Unrealized gains $ 5,996 39,032 11,255 Unrealized losses (3,089) (3,052) (2,376) Net unrealized gains $ 2,907 35,980 8,879 Accrued liabilities Unrealized gains $ 8,218 9,041 4,215 Unrealized losses (30,826) (28,591) (15,484) Net unrealized losses $ (22,608) (19,550) (11,269) Other liabilities Unrealized gains $ 2,846 149 4,546 Unrealized losses (18,930) (1,167) (13,437) Net unrealized losses $ (16,084) (1,018) (8,891) Net gains on cash flow hedging activities have been reclassified from other comprehensive earnings (loss) to net earnings for the quarter s ended April 1, 2018 and April 2, 2017 as follows: Quarter Ended April 1, April 2, 2018 2017 Statements of Operations Classification Cost of sales $ (3,891) 9,874 Sales 332 541 Other (1,423) 31 Net realized gains $ (4,982) 10,446 In addition, losses of $ 718 and $4,958 were reclassified to earnings as a result of hedge inef fectiveness for the quarters ended April 1, 2018 and April 2, 2017 , respectively. 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 . T he 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 . As of April 1, 2018 , April 2, 2017 and December 31, 2017 the total notional amounts of the Company's undesignated der i vative instruments were $132,945 , $62,806 and $418,471 , respectively. At April 1, 2018 , April 2, 2017 and December 31, 2017 , the fair values of the Company's undesignated derivative financial instruments were recorded in the consolidated balance s heets as follows: April 1, April 2, December 31, 2018 2017 2017 Accrued liabilities Unrealized gains $ 383 289 1,793 Unrealized losses (1,119) (316) (4,684) Net unrealized loss (736) (27) (2,891) Total unrealized gain, net $ (736) (27) (2,891) The Comp any recorded net (losses) gains of $ ( 6,7 00 ) and $3, 581 on these instruments to other income , net for the quarters ended April 1, 2018 and April 2, 2017 , 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 f inancial instruments see Notes 5 and 7 .

Segment Reporting

Segment Reporting3 Months Ended
Apr. 01, 2018
Segment Reporting (Thousands of Dollars) [Abstract]
Segment Reporting(10 ) Segment Reporting Hasbro is a global play and entertainment company with a broad portfolio of brands and entertainment properties spanning toys, games, licensed products ranging from traditional to high-tech and digital, and film and television entertainment. The Company's segments are (i) U.S. and Canada, (ii) International, (iii) Entertainment and Licensing, and (iv) Global Operations. The U.S. and Canada segment includes the marketing and selling of action figures, arts and crafts and creative play products, electronic toys and related electronic interactive products, fashion and other dolls, infant products, play sets, preschool toys, plush products, sports action blasters and accessories, vehicles and toy-related specialty products, as well as trad itional board games, and trading card and role-playing games primarily within the United States and Canada. Within the International segment, the Company markets and sells both toy and game products in markets outside of the U.S. and Canada, primarily in the European, Asia Pac ific, and Latin and South American regions. The Company's Entertainment and Licensing segment includes the Company's consumer products licensing, digital gaming, movie and television entertainment operations. The Global Operations segment is responsible fo r sourcing finished products for the Company's U.S. and Canada and International segments. Segment performance is measured at the operating profit level. Included in Corporate and E liminations are certain corporate expenses, including the elimination of i ntersegment transactions and certain assets benefiting more than one segment. Intersegment sales and transfers are reflected in management reports at amounts approximating cost. Certain shared costs, including global development and marketing expenses and corporate administration, are allocated to segments based upon expenses and foreign exchange rates fixed at the beginning of the year, with adjustments to actual expenses and foreign exchange rates included in Corporate and e liminations. The accounting pol icies of the segments are the sa me as those referenced in note 1 . Results shown for the quarter are not necessarily representative of those which may be expected for the full year 2018 , nor were those of the comparable 2017 period representative of those actually experienced for the full year 2017 . 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 repo rted amounts for the quarters ended April 1, 2018 and April 2, 2017 are as follow s: Quarter Ended April 1, 2018 April 2, 2017 Net revenues External Affiliate External Affiliate U.S. and Canada $ 364,297 2,133 451,577 2,391 International 287,945 62 345,281 - Entertainment and Licensing 64,021 3,576 52,729 3,502 Global Operations (a) 78 253,320 76 260,229 Corporate and Eliminations (b) - (259,091) - (266,122) $ 716,341 - 849,663 - Quarter Ended April 1, April 2, Operating profit (loss) 2018 2017 U.S. and Canada $ (23,383) 64,754 International (56,088) 544 Entertainment and Licensing 13,906 11,346 Global Operations (a) 2,176 833 Corporate and Eliminations (b) (17,030) 866 $ (80,419) 78,343 April 1, April 2, December 31, Total assets 2018 2017 2017 U.S. and Canada $ 2,745,209 2,618,808 2,749,384 International 2,033,928 1,964,343 2,499,985 Entertainment and Licensing 673,248 763,988 626,193 Global Operations 3,293,265 2,218,817 2,819,768 Corporate and Eliminations (b) (4,016,578) (2,920,086) (3,405,347) $ 4,729,072 4,645,870 5,289,983 (a) The Global Operations segment derives substantially all of its revenues, and thus its operating results, from intersegment activities. (b) Certain long-term assets, including property, plant and equipment, goodwill and other intangibles, which benefit multiple operating segments, are included in Corporate and Eliminations. Allocations of certain expenses related to these assets to the individual operating segments are done at the beginning of the year based on budgeted amounts. Any differences b etween actual and budgeted amounts are reflected in Corporate and Eliminations because allocations are translated from the U . S . Dollar to local currenc y at budget rates when recorded. Corporate and Eliminations also includes the elimination of inter-company balance sheet amounts. The following table represents consolidated International segment net revenues by major geographic region for the quarter s ended April 1, 2018 and April 2, 2017 . Quarter Ended April 1, April 2, 2018 2017 Europe $ 155,562 216,120 Latin America 65,961 64,756 Asia Pacific 66,422 64,405 Net revenues $ 287,945 345,281 The following table presents consolidated net revenues by brand portfolio for the quarter s ended April 1, 2018 and April 2, 2017 . Quarter Ended April 1, April 2, 2018 2017 Franchise Brands $ 361,706 449,160 Partner Brands 200,592 212,962 Hasbro Gaming 105,227 135,766 Emerging Brands 48,816 51,775 Total $ 716,341 849,663 Franchise and Emerging Brands net revenues for the first quarter of 2017 have been restated to reflect the move of BABY ALIVE from Emerging Brands to Franchise Brands and the move of LITTLEST PET SHOP from Franchise Brands to Emerging Brands. Hasbro's total gaming category, including all gaming revenue, most notably MAGIC: THE GATHERING and MONOPOLY, totaled $ 203,542 for the first quarter of 201 8, compared to revenues of $ 253,289 for the first quarter of 2017.

Subsequent Event

Subsequent Event3 Months Ended
Apr. 01, 2018
Subsequent Event [Abstract]
Subsequent Event [TextBlock](11) Subsequent Event Power Rangers Agreement On May 1 , 2018 , the Company announced that it has entered into a definitive agreement with Saban Properties LLC to purchase Saban’s Power Rangers and several other entertainment brands for $ 52 2,000 to be paid in a combination of cash and stock. Hasbro has previously paid Saban Brands $ 22, 2 50 pursuant to the Power Rangers master toy license agreement, announced by the parties in February of 2018, that was scheduled to begin in 2019. Under the terms of the purchase agreement, Hasbro will pay an additional $ 229, 7 50 in cash and will issue $ 27 0,000 worth of Hasbro common stock for the Power Rangers brand and several other entertainment brands. The agreement includes all related intellectual property, category rights and content libraries owned by Saban Properties and its affiliates. The transaction is subject to a number of closing conditions, including obtaining required regulatory approvals, and is expected to close during the second quarter of 2018. The transaction, including intangible amortization expense, is not expected to have a material impact on Hasbro’s 2018 results of operations.

Basis of Presentation (Policies

Basis of Presentation (Policies)3 Months Ended
Apr. 01, 2018
Basis of Presentation [Abstract]
Basis of PresentationIn 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 1, 2018 and April 2, 2017 , and the results of its operations and cash flows for the periods then ended in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and notes thereto. Actual results could differ from those estimates. These condensed consolidated financial statements have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. 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 audited consolidated financial statements for the fiscal year ended December 31, 2017 in its Annual Report on Form 10-K (“2017 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 The Company's accounting policies ar e the same as those described in Note 1 to the Company's consolidated financial statements in its 2017 Form 10-K with the exception of the accounting policies related to revenue recognition, reclassification of disproportionate tax effects from accumula ted other comprehensive income (“AOCI”) caused by the Tax Cuts and Jobs Act of 2017 and the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. On January 1, 2018, the Company adopted Financial Accounting Standards Boa rd (“FASB”) Accounting Standards Codification Topic 606, Revenue from Contracts with Customers (ASC 606 or the New Revenue Standard) using the modified retrospective method. ASC 606 supersedes the revenue recognition requirements in ASC 605 – Revenue Recognition and most industry-specific guidance in U.S. GAAP. The New Revenue Standard provides a five-step model for analyzing contracts and transactions to determine when, how, and if revenue is recognized. Revenue should be recognized to depict the tran sfer of promised goods or services to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods or services. The cumulative impact of the adoption of the New Revenue Standard was not mater ial to the Company therefore the Company did not record any adjustments to retained earnings. This was determined by analyzing contracts not completed as of January 1, 2018. The Comparative information has not been restated and continues to be reported u nder the accounting standards in effect for those periods. For further details, see Note 2. Revenue recognition from the sale of finished product to customers, which is the majority of the Company’s revenues, did not change under the new standard and the Company does not expect material changes in the future as a result of the New Revenue Standard related to the sale of finished product to its customers. Within the Company’s Entertainment and Licensing segment, the timing of revenue recognition for minimu m guarantees that the Company receives from licensees is impacted by the New Revenue Standard. Prior to the adoption of ASC 606, for licenses of the Company’s brands that are subject to minimum guaranteed license fees, the Company recognized the differenc e between the minimum guaranteed amount and the actual royalties earned from licensee merchandise sales (“shortfalls”) at the end of the contract period, which was in the fourth quarter for most of the Company’s licensee arrangements. In periods following January 1, 2018, minimum guaranteed amounts will be recognized on a straight-line basis over the license period. While the impact of this change will not be material to the year, it will impact the timing of revenue recognition within the Company’s Enterta inment and Licensing segment such that under ASC 606, less revenues will be recorded in the fourth quarter and more revenues will be recorded within the first, second, and third quarters. No other areas of the Company’s business were materially impacted by the New Revenue Standard. In February 2018, the FASB issued Accounting Standards Update No. 2018-02 (ASU 2018-02), Income Statement -Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The standard provides for a reclassification from accumulated other comprehensive income (“AOCI”) to retained earnings, of disproportionate income tax effects arising from the impact of the Tax Cuts and Jobs Act of 2017 . For public companies, this standard is effective for annual reporting periods beginning after December 15, 2018. Early adoption is permitted. The Company adopted ASU 2018-02 in the first quarter of 2018. The impact of the adoption resulted in a one-time reclassification in the amo unt of $ 21,503 from AOCI with a corresponding credit to retained earnings. In March 2017, the FASB issued Accounting Standards Update No. 2017-07 (ASU 2017-07), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Bene fit Cost. The standard requires companies to present the service cost component of net benefit cost in the income statement line items where they report compensation cost. Companies will present all other components of net benefit cost outside operating i ncome, if this subtotal is presented. For public companies, this standard was effective for annual reporting periods beginning after December 15, 2017, and early adoption was permitted. The Company adopted this standard in the first quarter of 2018 and the adoption of this standard did not have a material impact on the Company’s results or consolidated financial statements in the first quarter of 2018. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (ASC 230) – Classification of Certain Cash Receipts and Cash Payments . The new guidance is intended to reduce diversity in practice across all industries, in how certain transactions are classified in the statement of cash flows. ASU 2016-15 was effective for public companies for fisca l years beginning after December 15, 2017. The Company adopted this standard in 2018 and the adoption of this standard did not have an impact on the Company’s statement of cash flows for the quarters ended April 1, 2018 and April 2, 2017. In October 2016 , the FASB issued Accounting Standards Update No. 2016-16 (ASU 2016-16), Accounting for Income Taxes: Intra-Entity Transfers of Assets Other Than Inventory . For public companies, this standard was effective for annual reporting periods beginning after Dece mber 15, 2017, and early adoption is permitted. The standard requires that the income tax impact of intra-entity sales and transfers of property, except for inventory, be recognized when the transfer occurs requiring any deferred taxes not yet recognized o n intra-entity transfers to be recorded to retained earnings. The Company adopted this standard in the first quarter of 2018 and the adoption did not have an impact on the Company’s results or consolidated financial statements.

Earnings Per Share (Tables)

Earnings Per Share (Tables)3 Months Ended
Apr. 01, 2018
Earnings (Loss) Per Share (Thousands of Dollars and Shares Except Per Share Data) [Abstract]
Earnings (Loss) Per Share2018 2017 Quarter Basic Diluted Basic Diluted Net earnings (loss) $ (112,492) (112,492) 68,599 68,599 Average shares outstanding 125,073 125,073 125,182 125,182 Effect of dilutive securities: Options and other share-based awards - - - 2,047 Equivalent Shares 125,073 125,073 125,182 127,229 Net earnings (loss) per common share $ (0.90) (0.90) 0.55 0.54

Other Comprehensive Earnings 20

Other Comprehensive Earnings (Loss) (Tables)3 Months Ended
Apr. 01, 2018
Other Comprehensive Earnings (Loss) [Abstract]
Schedule of Other Comprehensive Income (Loss), Tax Effect [Text Block]Quarter Ended April 1, April 2, 2018 2017 Other comprehensive earnings (loss), tax effect: Tax benefit on unrealized holding losses $ 41 18 Tax benefit on cash flow hedging activities 5,980 5,310 Tax benefit on changes in unrecognized pension amounts 7,565 - Reclassifications to earnings, tax effect: Tax benefit on cash flow hedging activities (794) (369) Tax benefit on unrecognized pension and postretirement amounts reclassified to the consolidated statements of operations (528) (822) Total tax effect on other comprehensive earnings (loss) $ 12,264 4,137
Schedule of Accumulated Other Comprehensive Earnings (Loss) Unrealized Holding Total Gains Gains on Foreign Accumulated Pension and (Losses) on Available- Currency Other Postretirement Derivative for-Sale Translation Comprehensive Amounts Instruments Securities Adjustments Loss 2018 Balance at December 31, 2017 $ (110,971) (32,827) 1,034 (96,661) (239,425) Adoption of ASU 2018-02 (18,065) (3,660) 222 - (21,503) Current period other comprehensive earnings (loss) (24,238) (19,915) (143) 12,829 (31,467) Balance at April 1, 2018 $ (153,274) (56,402) 1,113 (83,832) (292,395) 2017 Balance at December 25, 2016 $ (118,401) 51,085 1,424 (128,678) (194,570) Current period other comprehensive earnings (loss) 1,448 (28,691) (31) 24,673 (2,601) Balance at April 2, 2017 $ (116,953) 22,394 1,393 (104,005) (197,171)

Financial Instruments (Tables)

Financial Instruments (Tables)3 Months Ended
Apr. 01, 2018
Financial Instruments (Thousands of Dollars) [Abstract]
Schedule of Long-term Debt InstrumentsApril 1, 2018 April 2, 2017 December 31, 2017 Carrying Fair Carrying Fair Carrying Fair Cost Value Cost Value Cost Value 6.35% Notes Due 2040 $ 500,000 585,400 500,000 597,150 500,000 601,800 3.50% Notes Due 2027 500,000 468,000 - - 500,000 488,300 6.30% Notes Due 2017 - - 350,000 357,385 - - 5.10% Notes Due 2044 300,000 299,460 300,000 306,570 300,000 313,320 3.15% Notes Due 2021 300,000 300,480 300,000 305,490 300,000 302,640 6.60% Debentures Due 2028 109,895 128,006 109,895 125,390 109,895 131,390 Total long-term debt $ 1,709,895 1,781,346 1,559,895 1,691,985 1,709,895 1,837,450 Less: Current portion - - 350,000 357,385 - - Less: Deferred debt expenses 15,918 - 10,999 - 16,286 - Long-term debt $ 1,693,977 1,781,346 1,198,896 1,334,600 1,693,609 1,837,450

Fair Value of Financial Instr22

Fair Value of Financial Instruments (Tables)3 Months Ended
Apr. 01, 2018
Fair Value of Financial Instruments (Thousands of Dollars) [Abstract]
Fair Value HierarchyFair Value Measurements Using: Quoted Prices in Active Markets Significant for Other Significant Identical Observable Unobservable Fair Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) April 1, 2018 Assets: Available-for-sale securities $ 2,941 2,941 - - Derivatives 2,960 - 2,960 - Total assets $ 5,901 2,941 2,960 - Liabilities: Derivatives $ 39,428 - 39,428 - Option agreement 23,665 - - 23,665 Total liabilities $ 63,093 - 39,428 23,665 April 2, 2017 Assets: Available-for-sale securities $ 3,687 3,687 - - Derivatives 56,017 - 56,017 - Total assets $ 59,704 3,687 56,017 - Liabilities: Derivatives $ 20,595 - 20,595 - Option agreement 28,710 - - 28,710 Total liabilities $ 49,305 - 20,595 28,710 December 31, 2017 Assets: Available-for-sale securities $ 3,126 3,126 - - Derivatives 12,226 - 12,226 - Total assets $ 15,352 3,126 12,226 - Liabilities: Derivatives $ 23,051 - 23,051 - Option agreement 23,980 - - 23,980 Total Liabilities $ 47,031 - 23,051 23,980
Reconciliation of Level 3 Fair Value2018 2017 Balance at beginning of year $ (23,980) (28,770) Gain from change in fair value 315 60 Balance at end of first quarter $ (23,665) (28,710)

Pension and Postretirement Be23

Pension and Postretirement Benefits (Tables)3 Months Ended
Apr. 01, 2018
Pension and Postretirement Benefits (Thousands of Dollars) [Abstract]
Components of net periodic costQuarter Ended Pension Postretirement April 1, April 2, April 1, April 2, 2018 2017 2018 2017 Service cost $ 685 952 188 172 Interest cost 4,016 4,725 292 295 Expected return on assets (5,205) (6,281) - - Net amortization and deferrals 2,977 2,694 42 - Net periodic benefit cost $ 2,473 2,090 522 467

Derivative Financial Instrume24

Derivative Financial Instruments (Tables)3 Months Ended
Apr. 01, 2018
Derivative Financial Instruments (Thousands of Dollars) [Abstract]
Summary of Cash Flow Hedging InstrumentsApril 1, 2018 April 2, 2017 December 31, 2017 Notional Fair Notional Fair Notional Fair Hedged transaction Amount Value Amount Value Amount Value Inventory purchases $ 718,925 (31,453) 974,235 35,711 756,673 (13,695) Sales 375,441 7,323 423,828 1,083 423,315 16,144 Royalties and Other 178,896 (11,602) 324,008 (1,345) 196,889 (10,383) Total $ 1,273,262 (35,732) 1,722,071 35,449 1,376,877 (7,934)
Derivatives Fair Value by Balance Sheet LocationApril 1, April 2, December 31, 2018 2017 2017 Prepaid expenses and other current assets Unrealized gains $ 458 23,241 13,666 Unrealized losses (405) (3,204) (10,319) Net unrealized gains $ 53 20,037 3,347 Other assets Unrealized gains $ 5,996 39,032 11,255 Unrealized losses (3,089) (3,052) (2,376) Net unrealized gains $ 2,907 35,980 8,879 Accrued liabilities Unrealized gains $ 8,218 9,041 4,215 Unrealized losses (30,826) (28,591) (15,484) Net unrealized losses $ (22,608) (19,550) (11,269) Other liabilities Unrealized gains $ 2,846 149 4,546 Unrealized losses (18,930) (1,167) (13,437) Net unrealized losses $ (16,084) (1,018) (8,891)
Schedule of Derivative Instruments, Gain (Loss) in Statement of OperationsQuarter Ended April 1, April 2, 2018 2017 Statements of Operations Classification Cost of sales $ (3,891) 9,874 Sales 332 541 Other (1,423) 31 Net realized gains $ (4,982) 10,446
Fair values of undesignated derivative financial instrumentsApril 1, April 2, December 31, 2018 2017 2017 Accrued liabilities Unrealized gains $ 383 289 1,793 Unrealized losses (1,119) (316) (4,684) Net unrealized loss (736) (27) (2,891) Total unrealized gain, net $ (736) (27) (2,891)

Segment Reporting (Tables)

Segment Reporting (Tables)3 Months Ended
Apr. 01, 2018
Segment Reporting (Thousands of Dollars) [Abstract]
Net revenues by segmentQuarter Ended April 1, 2018 April 2, 2017 Net revenues External Affiliate External Affiliate U.S. and Canada $ 364,297 2,133 451,577 2,391 International 287,945 62 345,281 - Entertainment and Licensing 64,021 3,576 52,729 3,502 Global Operations (a) 78 253,320 76 260,229 Corporate and Eliminations (b) - (259,091) - (266,122) $ 716,341 - 849,663 -
Operating profit (loss) by segmentsQuarter Ended April 1, April 2, Operating profit (loss) 2018 2017 U.S. and Canada $ (23,383) 64,754 International (56,088) 544 Entertainment and Licensing 13,906 11,346 Global Operations (a) 2,176 833 Corporate and Eliminations (b) (17,030) 866 $ (80,419) 78,343
Total assets by segmentsApril 1, April 2, December 31, Total assets 2018 2017 2017 U.S. and Canada $ 2,745,209 2,618,808 2,749,384 International 2,033,928 1,964,343 2,499,985 Entertainment and Licensing 673,248 763,988 626,193 Global Operations 3,293,265 2,218,817 2,819,768 Corporate and Eliminations (b) (4,016,578) (2,920,086) (3,405,347) $ 4,729,072 4,645,870 5,289,983
Schedule of net revenues by international regionQuarter Ended April 1, April 2, 2018 2017 Europe $ 155,562 216,120 Latin America 65,961 64,756 Asia Pacific 66,422 64,405 Net revenues $ 287,945 345,281
Net revenues by product categoryQuarter Ended April 1, April 2, 2018 2017 Franchise Brands $ 361,706 449,160 Partner Brands 200,592 212,962 Hasbro Gaming 105,227 135,766 Emerging Brands 48,816 51,775 Total $ 716,341 849,663

Basis of Presentation (Details)

Basis of Presentation (Details) $ in ThousandsApr. 01, 2018USD ($)
Accounting Standards Update 2018-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement Or Change In Accounting Principle Cumulative Effect Of Change On Equity Or Net Assets $ (21,503)

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 01, 2018Apr. 02, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Bad Debt Expense Related To Toys R Us $ 59,115
Accounting Standards Update 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of Revenues from Sales of Finished Products90.00%92.00%
Activities necessary to fulfill obligation to transfer products to customers included in selling, distribution and administration expense $ 41,486 $ 36,609
Accounting Standards Update 2014-09 [Member] | Entertainment and Licensing [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of Revenues from Segment9.00%6.00%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands3 Months Ended
Apr. 01, 2018Apr. 02, 2017
Earnings (Loss) Per Share (Thousands of Dollars and Shares Except Per Share Data) [Abstract]
Net earnings (loss) $ (112,492) $ 68,599
Basic [Abstract]
Average shares outstanding (in shares)125,073 125,182
Equivalent shares (basic) (in shares)125,073 125,182
Net earnings (loss) per common share-basic (in dollars per share) $ (0.9) $ 0.55
Diluted [Abstract]
Average shares outstanding (in shares)125,073 125,182
Effect of dilutive securities:
Options and other share-based awards (in shares)0 2,047
Equivalent shares (diluted) (in shares)125,073 127,229
Net earnings (loss) per common share-diluted (in dollars per share) $ (0.9) $ 0.54
Employee Stock Option and Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Options to acquire shares totaling excluded as antidilutive3,191 638
Dilutive securities excluded because of net loss1,993
Impact of dilutive securities excluded because of net loss1,022

Other Comprehensive Earnings 29

Other Comprehensive Earnings (Loss), Tax Effects on Changes in Other Comprehensive Earnings (loss) (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 01, 2018Apr. 02, 2017
Other Comprehensive Earnings (Loss) [Abstract]
Tax benefit on cash flow hedging activities $ 5,980 $ 5,310
Tax benefit on unrealized holding losses and gains41 18
Tax benefit on changes in unrecognized pension and postretirement amounts7,565
Reclassification Adjustment from AOCE, Tax benefit on cash flow hedging activities(794)(369)
Reclassification Adjustment from AOCE, Tax benefit on amortization of unrecognized pension and postretirement amounts(528)(822)
Other Comprehensive Income, Tax, Total12,264 $ 4,137
Cash Flow Hedge losses to be Reclassified within Twelve Months $ 21,415

Other Comprehensive Earnings 30

Other Comprehensive Earnings (Loss), Changes in the components of accumulated other comprehensive loss (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 01, 2018Apr. 02, 2017
Accumulated Other Comprehensive (Loss) [Line Items]
Total accumulated other comprehensive earnings (loss), Beginning of Year $ (239,425) $ (194,570)
Adoption of ASU 2018-02(21,503)
Other Comprehensive Earnings (Loss), Net of Tax, Total(31,467)(2,601)
Total accumulated other comprehensive earnings (loss), End of Period(292,395)(197,171)
Pension and Postretirement Amounts [Member]
Accumulated Other Comprehensive (Loss) [Line Items]
Total accumulated other comprehensive earnings (loss), Beginning of Year(110,971)(118,401)
Adoption of ASU 2018-02(18,065)
Other Comprehensive Earnings (Loss), Net of Tax, Total(24,238)1,448
Total accumulated other comprehensive earnings (loss), End of Period(153,274)(116,953)
Gains (Losses) On Derivative Instruments [Member]
Accumulated Other Comprehensive (Loss) [Line Items]
Total accumulated other comprehensive earnings (loss), Beginning of Year(32,827)51,085
Adoption of ASU 2018-02(3,660)
Other Comprehensive Earnings (Loss), Net of Tax, Total(19,915)(28,691)
Total accumulated other comprehensive earnings (loss), End of Period(56,402)22,394
Gains (Losses) On Derivative Instruments [Member] | Interest Rate Contract [Member]
Accumulated Other Comprehensive (Loss) [Line Items]
Total accumulated other comprehensive earnings (loss), End of Period(20,356)
Gains (Losses) On Derivative Instruments [Member] | Foreign Exchange Forward [Member]
Accumulated Other Comprehensive (Loss) [Line Items]
Total accumulated other comprehensive earnings (loss), End of Period(36,046)
Unrealized Holding Gains on Available-for-Sale Securities [Member]
Accumulated Other Comprehensive (Loss) [Line Items]
Total accumulated other comprehensive earnings (loss), Beginning of Year1,034 1,424
Adoption of ASU 2018-02222
Other Comprehensive Earnings (Loss), Net of Tax, Total(143)(31)
Total accumulated other comprehensive earnings (loss), End of Period1,113 1,393
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive (Loss) [Line Items]
Total accumulated other comprehensive earnings (loss), Beginning of Year(96,661)(128,678)
Adoption of ASU 2018-020
Other Comprehensive Earnings (Loss), Net of Tax, Total12,829 24,673
Total accumulated other comprehensive earnings (loss), End of Period $ (83,832) $ (104,005)

Other Comprehensive Earnings 31

Other Comprehensive Earnings (Loss), Reclassification From Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 01, 2018Apr. 02, 2017
Reclassification Adjustment out of Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest Expense $ 22,809 $ 24,456
Reclassification out of Accumulated Other Comprehensive Income [Member] | Gains (Losses) On Derivative Instruments [Member] | Interest Rate Contract [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest Expense $ 450 $ 450

Financial Instruments (Details)

Financial Instruments (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 01, 2018Dec. 31, 2017Apr. 02, 2017
Debt Instrument [Line Items]
Carrying Cost $ 1,709,895 $ 1,709,895 $ 1,559,895
Current portion of long-term debt0 0 350,000
Less: Deferred debt expenses15,918 16,286 10,999
Long-term debt1,693,977 1,693,609 1,198,896
Fair Value1,781,346 1,837,450 1,691,985
Long-Term Debt Fair Value, Current Maturities0 0 357,385
Long-term Debt Fair Value, Excluding Current Maturities1,781,346 1,837,450 1,334,600
Current portion of long-term debt0 0 349,814
Notes 6.35% Due 2040 [Member]
Debt Instrument [Line Items]
Carrying Cost500,000 500,000 500,000
Fair Value $ 585,400 601,800 597,150
Maturity DateMar. 15,
2040
Interest Rate6.35%
Notes 6.30% Due 2017 [Member]
Debt Instrument [Line Items]
Carrying Cost $ 0 0 350,000
Fair Value $ 0 0 357,385
Maturity DateSep. 15,
2017
Interest Rate6.30%
Current portion of long-term debt349,814
Deferred debt expenses, current portion186
Notes 5.10% Due 2044 [Member]
Debt Instrument [Line Items]
Carrying Cost $ 300,000 300,000 300,000
Fair Value $ 299,460 313,320 306,570
Maturity DateMay 16,
2044
Interest Rate5.10%
Notes 3.50% Due 2027 [Member]
Debt Instrument [Line Items]
Carrying Cost $ 500,000 500,000 0
Fair Value $ 468,000 488,300 0
Maturity DateSep. 15,
2027
Interest Rate3.50%
Notes 3.15% Due 2021 [Member]
Debt Instrument [Line Items]
Carrying Cost $ 300,000 300,000 300,000
Fair Value $ 300,480 302,640 305,490
Maturity DateMay 17,
2021
Interest Rate3.15%
Debentures 6.60% Due 2028 [Member]
Debt Instrument [Line Items]
Carrying Cost $ 109,895 109,895 109,895
Fair Value $ 128,006 $ 131,390 $ 125,390
Maturity DateJan. 18,
2028
Interest Rate6.60%

Income Taxes (Details)

Income Taxes (Details) $ in Thousands3 Months Ended
Apr. 01, 2018USD ($)
Income Taxes Tax Cuts And Jobs Act [Abstract]
Increase to Provisional tax expense, net $ 47,800

Fair Value of Financial Instr34

Fair Value of Financial Instruments, Assests and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 01, 2018Dec. 31, 2017Apr. 02, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, assets $ 2,941 $ 3,126 $ 3,687
Derivatives, assets2,960 12,226 56,017
Total assets, fair value hierarchy5,901 15,352 59,704
Derivatives, liabilities39,428 23,051 20,595
Option Agreement23,665 23,980 28,710
Total Liabilities $ 63,093 47,031 49,305
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Investment Redemption, Notice Period45 days
Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Investment Redemption, Notice Period30 days
Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Investment Redemption, Notice Period90 days
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, assets $ 2,941 3,126 3,687
Derivatives, assets0 0 0
Total assets, fair value hierarchy2,941 3,126 3,687
Derivatives, liabilities0 0 0
Option Agreement0 0 0
Total Liabilities0 0 0
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, assets0 0 0
Derivatives, assets2,960 12,226 56,017
Total assets, fair value hierarchy2,960 12,226 56,017
Derivatives, liabilities39,428 23,051 20,595
Option Agreement0 0 0
Total Liabilities39,428 23,051 20,595
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, assets0 0 0
Derivatives, assets0 0 0
Total assets, fair value hierarchy0 0 0
Derivatives, liabilities0 0 0
Option Agreement23,665 23,980 28,710
Total Liabilities $ 23,665 $ 23,980 $ 28,710

Fair Value of Financial Instr35

Fair Value of Financial Instruments, Significant Unobservable Inputs Roll Forward (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 01, 2018Apr. 02, 2017Dec. 31, 2017
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of year $ (23,980) $ (28,770)
Gain from change in fair value315 60
Balance at end of period(23,665)(28,710)
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Other income, net8,592 11,386
Fair Value, Measurements, Recurring [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Alternative Investments, Fair Value Disclosure24,584 23,603 $ 24,436
Other income, net $ 448 $ 631

Pension and Postretirement Be36

Pension and Postretirement Benefits (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 01, 2018Apr. 02, 2017Dec. 31, 2017
Defined Benefit Plan Plan Amendment [Abstract]
Defined Benefit Plan Accumulated Benefit Obligation Increase For Plan Amendment $ 35,192
Date of resolution approval plan termination February 2,018
Pension [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost $ 685 $ 952
Interest cost4,016 4,725
Expected return on assets(5,205)(6,281)
Net amortization and deferrals2,977 2,694
Net periodic benefit cost2,473 2,090
Contributions to defined benefit pension plans280
Expected fiscal year defined benefit pension plan contributions $ 1,300
Weighted average discount rate3.20%3.70%
Postretirement [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost $ 188 172
Interest cost292 295
Expected return on assets0 0
Net amortization and deferrals42 0
Net periodic benefit cost $ 522 $ 467

Derivative Financial Instrume37

Derivative Financial Instruments, Narrative (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 01, 2018Apr. 02, 2017Dec. 31, 2017
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward [Member] | Other Income (Expense) [Member]
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Net $ (6,700) $ 3,581
Not Designated as Hedging Instrument [Member] | Intercompany Loans [Member]
Derivative [Line Items]
Notional amount of derivative132,945 62,806 $ 418,471
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Forward [Member]
Derivative [Line Items]
Ineffective portion, amount of gains (losses) reclassified from other comprehensive earnings into earnings(718)(4,958)
Notional amount of derivative $ 1,273,262 $ 1,722,071 $ 1,376,877

Derivative Financial Instrume38

Derivative Financial Instruments, Notional Amounts and Fair Values of Foreign Currency Forward Contracts Designated as Cash Flow Hedging Instruments (Details) - Cash Flow Hedging [Member] - Designated as Hedging Instrument [Member] - USD ($) $ in ThousandsApr. 01, 2018Dec. 31, 2017Apr. 02, 2017
Foreign Exchange Forward [Member]
Derivative [Line Items]
Notional amount of derivative $ 1,273,262 $ 1,376,877 $ 1,722,071
Fair value of hedged item(35,732)(7,934)35,449
Inventory Purchases [Member]
Derivative [Line Items]
Notional amount of derivative718,925 756,673 974,235
Fair value of hedged item(31,453)(13,695)35,711
Sales [Member]
Derivative [Line Items]
Notional amount of derivative375,441 423,315 423,828
Fair value of hedged item7,323 16,144 1,083
Royalties and Other [Member]
Derivative [Line Items]
Notional amount of derivative178,896 196,889 324,008
Fair value of hedged item $ (11,602) $ (10,383) $ (1,345)

Derivative Financial Instrume39

Derivative Financial Instruments, Fair Values Derivatives, Balance Sheet Location, by Derivative Contract Type (Details) - Foreign Exchange Forward [Member] - USD ($) $ in ThousandsApr. 01, 2018Dec. 31, 2017Apr. 02, 2017
Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Net unrealized gain $ (736) $ (2,891) $ (27)
Not Designated as Hedging Instrument [Member] | Accrued liabilities [Member]
Derivatives, Fair Value [Line Items]
Unrealized gains383 1,793 289
Unrealized losses(1,119)(4,684)(316)
Net unrealized gain(736)(2,891)(27)
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Net unrealized gain(35,732)(7,934)35,449
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Prepaid expenses and other current assets [Member]
Derivatives, Fair Value [Line Items]
Unrealized gains458 13,666 23,241
Unrealized losses(405)(10,319)(3,204)
Net unrealized gain53 3,347 20,037
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Other Assets [Member]
Derivatives, Fair Value [Line Items]
Unrealized gains5,996 11,255 39,032
Unrealized losses(3,089)(2,376)(3,052)
Net unrealized gain2,907 8,879 35,980
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Accrued liabilities [Member]
Derivatives, Fair Value [Line Items]
Unrealized gains8,218 4,215 9,041
Unrealized losses(30,826)(15,484)(28,591)
Net unrealized gain(22,608)(11,269)(19,550)
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Other liabilities [Member]
Derivatives, Fair Value [Line Items]
Unrealized gains2,846 4,546 149
Unrealized losses(18,930)(13,437)(1,167)
Net unrealized gain $ (16,084) $ (8,891) $ (1,018)

Derivative Financial Instrume40

Derivative Financial Instruments, Gain (Loss) by Hedging Relationship, by Income Statement Location (Details) - Foreign Exchange Forward [Member] - Cash Flow Hedging [Member] - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands3 Months Ended
Apr. 01, 2018Apr. 02, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion $ (4,982) $ 10,446
Cost of Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion(3,891)9,874
Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion332 541
Royalties and Other [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion $ (1,423) $ 31

Segment Reporting, Net revenues

Segment Reporting, Net revenues by segment (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 01, 2018Apr. 02, 2017
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues, external $ 716,341 $ 849,663
Net revenues, affiliates0 0
Operating Profit (Loss)(80,419)78,343
Corporate and Eliminations [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues, external0 0
Net revenues, affiliates(259,091)(266,122)
Operating Profit (Loss)[1](17,030)866
U.S. and Canada [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues, external364,297 451,577
Net revenues, affiliates2,133 2,391
Operating Profit (Loss)(23,383)64,754
International [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues, external287,945 345,281
Net revenues, affiliates62 0
Operating Profit (Loss)(56,088)544
Entertainment and Licensing [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues, external64,021 52,729
Net revenues, affiliates3,576 3,502
Operating Profit (Loss)13,906 11,346
Global Operations [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues, external[2]78 76
Net revenues, affiliates[2]253,320 260,229
Operating Profit (Loss)[2] $ 2,176 $ 833
[1]Certain long-term assets, including property, plant and equipment, goodwill and other intangibles, which benefit multiple operating segments, are included in Corporate and Eliminations. Allocations of certain expenses related to these assets to the individual operating segments are done at the beginning of the year based on budgeted amounts. Any differences b etween actual and budgeted amounts are reflected in Corporate and Eliminations because allocations are translated from the U . S . Dollar to local currenc y at budget rates when recorded. Corporate and Eliminations also includes the elimination of inter-company balance sheet amounts.
[2]The Global Operations segment derives substantially all of its revenues, and thus its operating results, from intersegment activities.

Segment Reporting, Total assets

Segment Reporting, Total assets by segments (Details) - USD ($) $ in ThousandsApr. 01, 2018Dec. 31, 2017Apr. 02, 2017
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets $ 4,729,072 $ 5,289,983 $ 4,645,870
Corporate and Eliminations [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets[1](4,016,578)(3,405,347)(2,920,086)
U.S. and Canada [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets2,745,209 2,749,384 2,618,808
International [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets2,033,928 2,499,985 1,964,343
Entertainment and Licensing [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets673,248 626,193 763,988
Global Operations [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets $ 3,293,265 $ 2,819,768 $ 2,218,817
[1]Certain long-term assets, including property, plant and equipment, goodwill and other intangibles, which benefit multiple operating segments, are included in Corporate and Eliminations. Allocations of certain expenses related to these assets to the individual operating segments are done at the beginning of the year based on budgeted amounts. Any differences b etween actual and budgeted amounts are reflected in Corporate and Eliminations because allocations are translated from the U . S . Dollar to local currenc y at budget rates when recorded. Corporate and Eliminations also includes the elimination of inter-company balance sheet amounts.

Segment Reporting, Internationa

Segment Reporting, International Segment Net Revenues (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 01, 2018Apr. 02, 2017
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue $ 716,341 $ 849,663
International [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue287,945 345,281
Europe [Member] | International [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue155,562 216,120
Latin America [Member] | International [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue65,961 64,756
Asia Pacific [Member] | International [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue $ 66,422 $ 64,405

Segment Reporting, Revenue by P

Segment Reporting, Revenue by Products (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 01, 2018Apr. 02, 2017
Revenue from External Customer [Line Items]
Net revenue $ 716,341 $ 849,663
Franchise Brands [Member]
Revenue from External Customer [Line Items]
Net revenue361,706 449,160
Partner Brands [Member]
Revenue from External Customer [Line Items]
Net revenue200,592 212,962
Hasbro Gaming [Member]
Revenue from External Customer [Line Items]
Net revenue105,227 135,766
Gaming including Magic the Gathering and Monopoly [Member]
Revenue from External Customer [Line Items]
Net revenue $ 203,542 253,289
Segment Reporting, Additional Information about Entity's Reportable SegmentsFranchise and Emerging Brands net revenues for the first quarter of 2017 have been restated to reflect the move of BABY ALIVE from Emerging Brands to Franchise Brands and the move of LITTLEST PET SHOP from Franchise Brands to Emerging Brands.

Hasbro's total gaming category, including all gaming revenue, most notably MAGIC: THE GATHERING and MONOPOLY, totaled $203,542 for the first quarter of 2018, compared to revenues of $253,289 for the first quarter of 2017.
Emerging Brands [Member]
Revenue from External Customer [Line Items]
Net revenue $ 48,816 $ 51,775

Subsequent Event (Details)

Subsequent Event (Details) $ in Thousands3 Months Ended
Apr. 01, 2018USD ($)
Subsequent Event [LineItems]
Subsequent event dateMay 1,
2018
Subsequent event descriptionOn May 1, 2018, the Company announced that it has entered into a definitive agreement with Saban Properties LLC to purchase Saban’s Power Rangers and several other entertainment brands for $522,000 to be paid in a combination of cash and stock.
Total amount of consideration to purchase entertainment brands $ 522,000
Other payments to acquire business22,250
Cash portion of agreement to purchase entertainment brands229,750
Equity interest issued by the acquirer $ 270,000