Loading...
Docoh

Hasbro (HAS)

Cover

Cover - shares3 Months Ended
Mar. 29, 2020Apr. 29, 2020
Cover [Abstract]
Document Type10-Q
Document Quarterly Reporttrue
Document Period End DateMar. 29,
2020
Document Transition Reportfalse
Entity File Number1-6682
Entity Registrant NameHASBRO, INC.
Entity Central Index Key0000046080
Current Fiscal Year End Date--12-27
Document Fiscal Year Focus2020
Document Fiscal Period FocusQ1
Amendment Flagfalse
Entity Incorporation, State or Country CodeRI
Entity Tax Identification Number05-0155090
Entity Address, Address Line One1027 Newport Avenue
Entity Address, City or TownPawtucket,
Entity Address, State or ProvinceRI
Entity Address, Postal Zip Code02861
City Area Code401
Local Phone Number431-8697
Title of 12(b) SecurityCommon Stock, $0.50 par value per share
Trading SymbolHAS
Security Exchange NameNASDAQ
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryLarge Accelerated Filer
Entity Small Businessfalse
Entity Emerging Growth Companyfalse
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding137,011,347

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in ThousandsMar. 29, 2020Dec. 29, 2019Mar. 31, 2019
Current assets
Cash and cash equivalents including restricted cash of $86,177, $0 and $0 $ 1,237,884 $ 4,580,369 $ 1,196,634
Accounts receivable, less allowance for doubtful accounts of $16,900 $12,100 and $17,200963,823 1,410,597 638,417
Inventories444,406 446,105 491,751
Prepaid expenses and other current assets672,390 310,450 305,056
Total current assets3,318,503 6,747,521 2,631,858
Property, plant and equipment, less accumulated depreciation of $513,200 $484,200 and $505,900455,945 382,248 395,624
Other assets
Goodwill3,572,650 494,584 485,528
Other intangible assets, net of accumulated amortization of $608,500 $747,800 and $895,2001,615,778 646,305 682,063
Other1,461,483 584,970 739,700
Total other assets6,649,911 1,725,859 1,907,291
Total assets10,424,359 8,855,628 4,934,773
Current liabilities
Short-term borrowings9,405 503 13,409
Current portion of long-term debt64,441 0 0
Accounts payable308,496 343,927 234,262
Accrued liabilities1,356,214 912,652 701,054
Total current liabilities1,738,556 1,257,082 948,725
Long-term debt5,156,290 4,046,457 1,695,462
Other liabilities738,965 556,559 636,055
Total liabilities7,633,811 5,860,098 3,280,242
Redeemable noncontrolling interests26,041 0 0
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 220,286,736 at March 29, 2020, 209,694,630 at March 31, 2019, and 220,286,736 at December 29, 2019110,143 110,143 104,847
Additional paid-in capital2,282,379 2,275,726 1,269,230
Retained earnings4,191,810 4,354,619 4,125,686
Accumulated other comprehensive loss(294,772)(184,220)(282,339)
Treasury stock, at cost; 83,279,734 shares at March 29, 2020; 83,830,809 shares at March 31, 2019; and 83,424,129 shares at December 29, 2019(3,560,336)(3,560,738)(3,562,893)
Noncontrolling interests35,283 0 0
Total shareholders' equity2,764,507 2,995,530 1,654,531
Total liabilities, noncontrolling interests and shareholders' equity $ 10,424,359 $ 8,855,628 $ 4,934,773

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in ThousandsMar. 29, 2020Dec. 29, 2019Mar. 31, 2019
ASSETS
Accounts receivable, allowance for doubtful accounts $ 16,900 $ 17,200 $ 12,100
Property, plant and equipment, accumulated depreciation513,200 505,900 484,200
Other intangibles, accumulated amortization $ 608,500 $ 895,200 $ 747,800
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)220,286,736 220,286,736 209,694,630
Treasury stock (in shares)83,279,734 83,424,129 83,830,809

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands3 Months Ended
Mar. 29, 2020Mar. 31, 2019
Income Statement [Abstract]
Net revenues $ 1,105,570 $ 732,510
Costs and expenses:
Cost of sales262,694 259,987
Program cost amortization132,146 6,575
Royalties112,822 59,888
Product development53,829 56,260
Advertising101,641 76,604
Amortization of intangibles36,811 11,816
Selling, distribution and administration279,128 225,253
Acquisition and related costs149,782 0
Total costs and expenses1,128,853 696,383
Operating profit (loss)(23,283)36,127
Non-operating (income) expense:
Interest expense54,725 22,314
Interest income(4,667)(7,682)
Other expense (income), net(1,459)(8,100)
Total non-operating expense, net48,599 6,532
Earnings (loss) before income taxes(71,882)29,595
Income tax (benefit) expense(4,072)2,868
Net earnings (loss)(67,810)26,727
Net earnings attributable to noncontrolling interests1,827 0
Net earnings (loss) attributable to Hasbro, Inc. $ (69,637) $ 26,727
Net earnings (loss) per common share:
Basic (in dollars per share) $ (0.51) $ 0.21
Diluted (in dollars per share)(0.51)0.21
Cash dividends declared per common share (in dollars per share) $ 0.68 $ 0.68

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Earnings (Loss) - USD ($) $ in Thousands3 Months Ended
Mar. 29, 2020Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net earnings (loss) $ (67,810) $ 26,727
Other comprehensive earnings (loss):
Foreign currency translation adjustments(131,767)6,993
Unrealized holding (losses) gains on available-for-sale securities, net of tax(410)265
Net gains on cash flow hedging activities, net of tax25,015 6,592
Reclassifications to earnings (loss), net of tax:
Net gains on cash flow hedging activities(3,664)(2,814)
Amortization of unrecognized pension and postretirement amounts274 1,139
Total other comprehensive earnings (loss), net of tax(110,552)12,175
Total comprehensive earnings attributable to noncontrolling interests1,827 0
Total comprehensive earnings (loss) attributable to Hasbro, Inc. $ (180,189) $ 38,902

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands3 Months Ended
Mar. 29, 2020Mar. 31, 2019
Statement of Cash Flows [Abstract]
Net earnings (loss) $ (67,810) $ 26,727
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Depreciation of plant and equipment23,666 27,028
Amortization of intangibles36,811 11,816
Asset impairments40,878 0
Program cost amortization132,146 6,575
Deferred income taxes(3,127)11,795
Stock-based compensation10,651 5,285
Other non-cash items8,418 (3,503)
Change in operating assets and liabilities net of acquired balances:
Decrease in accounts receivable653,687 558,888
Increase in inventories(13,933)(50,109)
Increase in prepaid expenses and other current assets(22,965)(33,934)
Program production costs, net(168,043)(17,728)
Decrease in accounts payable and accrued liabilities(315,781)(273,955)
Other(22,971)(4,391)
Net cash provided by operating activities291,627 264,494
Cash flows from investing activities:
Additions to property, plant and equipment(30,833)(25,201)
Acquisitions, net of cash acquired(4,403,929)0
Other4,271 (1,800)
Net cash utilized by investing activities(4,430,491)(27,001)
Cash flows from financing activities:
Proceeds from borrowings with maturity greater than three months1,017,689 0
Repayments of borrowings with maturity greater than three months(50,186)0
Net repayments of other short-term borrowings(1,424)
Net repayments of other short-term borrowings3,419
Purchases of common stock0 (47,479)
Stock-based compensation transactions1,830 2,335
Dividends paid(93,162)(79,274)
Payments related to tax withholding for share-based compensation(5,307)(11,880)
Redemption of equity instruments(47,399)0
Deferred acquisition payments0 (87,500)
Other(2,572)0
Net cash provided (utilized) by financing activities819,469 (220,379)
Effect of exchange rate changes on cash(23,090)(2,851)
(Decrease) increase in cash, cash equivalents and restricted cash(3,342,485)14,263
Cash, cash equivalents and restricted cash at beginning of year4,580,369 1,182,371
Cash, cash equivalents and restricted cash at end of period1,237,884 1,196,634
Cash paid during the period for:
Interest13,479 28,576
Income taxes $ 19,915 $ 13,019

Consolidated Statements of Shar

Consolidated Statements of Shareholder's Equity and Redeemable Noncontrolling Interests - USD ($) $ in ThousandsTotalCommon StockAdditional Paid-in CapitalRetained EarningsAccumulated Other Comprehensive LossTreasury StockNoncontrolling Interests
Beginning balance at Dec. 30, 2018 $ 1,754,486 $ 104,847 $ 1,275,059 $ 4,184,374 $ (294,514) $ (3,515,280) $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss) attributable to Hasbro, Inc.26,727 26,727
Other comprehensive loss12,175 12,175
Stock-based compensation transactions(9,545)(11,114)1,569
Purchases of common stock(49,182)(49,182)
Stock-based compensation expense5,285 5,285
Dividends declared(85,415)(85,415)
Ending balance at Mar. 31, 20191,654,531 104,847 1,269,230 4,125,686 (282,339)(3,562,893)0
Beginning balance at Dec. 30, 20180
Ending balance at Mar. 31, 20190
Beginning balance at Dec. 29, 20192,995,530 110,143 2,275,726 4,354,619 (184,220)(3,560,738)0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Noncontrolling interests related to acquisition of Entertainment One Ltd.39,925 39,925
Net earnings (loss) attributable to Hasbro, Inc.(69,637)(69,637)
Net earnings (loss) attributable to noncontrolling interests(1,864)(1,864)
Other comprehensive loss(110,552)(110,552)
Stock-based compensation transactions(3,596)(3,998)402
Stock-based compensation expense10,651 10,651
Dividends declared(93,172)(93,172)
Distributions paid to noncontrolling owners(2,778)(2,778)
Ending balance at Mar. 29, 20202,764,507 $ 110,143 $ 2,282,379 $ 4,191,810 $ (294,772) $ (3,560,336) $ 35,283
Beginning balance at Dec. 29, 20190
Increase (Decrease) in Temporary Equity [Roll Forward]
Noncontrolling interests related to acquisition of Entertainment One Ltd.23,596
Net earnings (loss) attributable to noncontrolling interests37
Distributions paid to noncontrolling owners2,408
Ending balance at Mar. 29, 2020 $ 26,041

Basis of Presentation

Basis of Presentation3 Months Ended
Mar. 29, 2020
Accounting Policies [Abstract]
Basis of PresentationBasis 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 March 29, 2020 and March 31, 2019 , and the results of its operations and cash flows and shareholders' equity for the periods then ended in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and notes thereto. Actual results could differ from those estimates. The quarters ended March 29, 2020 and March 31, 2019 were each 13 -week periods. The results of operations for the quarter ended March 29, 2020 are not necessarily indicative of results to be expected for the full year, nor were those of the comparable 2019 period representative of those actually experienced for the full year 2019. Following the Company's acquisition of Entertainment One Ltd. ("eOne" or "eOne Acquisition") (see Note 3), beginning with the first quarter of 2020, the eOne operating segment was added to the Company's reporting structure and is comprised of all legacy eOne operations. Over time, the Company plans to transition towards reflecting all of its entertainment operations within the eOne segment. The Company also expects to shift the consumer product and digital licensing business and toy and game sales related to the eOne preschool brands to legacy Hasbro segments; including related toy and game operations into the Company's geographic commercial segments in late 2021 and 2022. In addition to the eOne segment, the Company's brand architecture now reflects the addition of the TV, Film and Entertainment brand portfolio which consists of legacy eOne film and TV revenues. Operations related to eOne brands, including PEPPA PIG, PJ MASKS and RICKY ZOOM, are reported in the Emerging Brands portfolio. eOne's results of operations and financial position are included in the Company's consolidated financial statements and accompanying condensed footnotes since the date of acquisition. For more information on the eOne Acquisition see Note 3, Business Combination. Significant Accounting Policies The Company's significant accounting policies are summarized in Note 1 to the consolidated financial statements included in our Form 10-K for the year ended December 29, 2019. An update and supplement to these accounting policies associated with our acquisition of eOne is below. Noncontrolling Interests The financial results and position of the noncontrolling interests acquired through the acquisition of eOne are included in their entirety in the Company’s consolidated statements of operations and consolidated balance sheets beginning with the first quarter of 2020. The value of the redeemable noncontrolling interests is presented in the consolidated balance sheets as temporary equity between liabilities and shareholders' equity. The value of the noncontrolling interests is presented in the consolidated balance sheets within total shareholders' equity. Earnings (losses) attributable to the redeemable noncontrolling interests and noncontrolling interests are presented as a separate line on the consolidated statements of operations which is necessary to identify those earnings (losses) specifically attributable to Hasbro. A breakout of the redeemable noncontrolling interests and noncontrolling interests acquired is listed below. Name Country of Incorporation Proportion held Principal activity Astley Baker Davies Limited England and Wales 70 % Ownership of intellectual property Whizz Kid Entertainment Limited England and Wales 70 % Production of television programs MR Productions Holdings, LLC United States 77 % Film development Renegade Entertainment, LLC United States 65 % Production of television programs Round Room Live, LLC United States 60 % Production of live events Production Financing Production financing relates to financing facilities for certain of the Company's television and film productions. Beginning in the first quarter of 2020 with the acquisition of eOne, the Company funded certain of its television and film productions using production financing facilities. Production financing facilities are secured by the assets and future revenues of the individual production subsidiaries, typically have maturities of less than two years while the titles are in production, and are repaid once the production is delivered and all tax credits, broadcaster pre-sales and international sales have been received. In connection with the production of a television or film program, the Company records initial cash outflows within cash flows from operating activities due to its investment in the production and concurrently records cash inflows within cash flows from financing activities from the production financing it normally obtains. Under these facilities, certain of the Company's cash is restricted while the financing is outstanding. At March 29, 2020, $86,177 of the Company's cash was restricted by such facilities. Investment in Productions and Acquired Content Rights The cost of investments in programming ("IIP") and investments in content rights ("IIC") for eOne's television and film libraries are recorded in the consolidated balance sheets at amounts considered recoverable against future revenues. These amounts are amortized to program cost amortization using a model that reflects the consumption of the asset as it is released through different exploitation windows (e.g., broadcast licenses, theatrical release and home entertainment) and the expected revenue earned in each of those stages of release over a period not exceeding 10 years . Amounts capitalized are reviewed regularly and any portion of the unamortized amount that appears not to be recoverable from future net revenues will be written off to program cost amortization during the period in which the loss becomes evident. Certain of these agreements require the Company to pay minimum guaranteed advances ("MGs") for participations and residuals. MGs are recognized in the consolidated balance sheets when a liability arises, usually on delivery of the television or film program to the Company. The current portion of MGs are recorded as Payables and Accrued Liabilities and the long-term portion are recorded as Other Liabilities. These consolidated financial statements have been prepared without audit, pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). Certain information and disclosures normally included in the consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. The Company filed with the SEC audited consolidated financial statements for the fiscal year ended December 29, 2019 in its Annual Report on Form 10-K ("2019 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 significant accounting policies are the same as those described in Note 1 to the Company's consolidated financial statements in its 2019 Form 10-K with the exception of the accounting policies disclosed above. In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2016-13 (ASU 2016-13) Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The amendments in this update provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The standard update replaces the incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. For public companies, this standard is effective for annual reporting periods beginning after December 15, 2019, and early adoption was permitted. The Company adopted the standard in the first quarter of 2020 and the adoption of the standard did not have a material impact on its consolidated financial statements. In August 2018, the FASB issued Accounting Standards Update No. 2018-13 (ASU 2018-13), Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement. The amendments in this update modify the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement, specifically related to disclosures surrounding Level 3 asset balances, fair value measurement methods, related gains and losses and fair value hierarchy transfers. For public companies, this standard is effective for annual reporting periods beginning after December 15, 2019, and early adoption was permitted. The Company adopted the standard in the first quarter of 2020 and the adoption of the standard did not have a material impact on its consolidated financial statements. In March 2019, the FASB issued Accounting Standards Update No. 2019-02 (ASU 2019-02) Entertainment-Films-Other Assets-Film Costs (Subtopic 926-20) and Entertainment-Broadcasters-Intangibles-Goodwill and Other (Subtopic 920-350): Improvements to Accounting for Costs of Films and License Agreements for Program Materials. The amendments in this update align cost capitalization of episodic television series production costs with that of film production cost capitalization. In addition, this update addresses impairment testing procedures with regard to film groups, when a film or license agreement is expected to be monetized with other films and/or license agreements. The intention of this update is to align accounting treatment with changes in production and distribution models within the entertainment industry and to provide increased transparency of information provided to users of financial statements about produced and licensed content. For public companies, this standard is effective for annual reporting periods beginning after December 15, 2019, and early adoption was permitted. The Company adopted the standard in the first quarter of 2020 and the adoption of the standard did not have a material impact on its consolidated financial statements. Recently Issued Accounting Pronouncements In August 2018, the FASB issued Accounting Standards Update No. 2018-14 (ASU 2018-14) Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans. The amendments in this update modify the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. For public companies, this standard is effective for annual reporting periods beginning after December 15, 2020, and early adoption is permitted. The standard relates to financial statement disclosure only and will not have an impact on the Company's consolidated statement of financial position, statements of operations and comprehensive earnings (loss) or statement of cash flows.

Revenue Recognition

Revenue Recognition3 Months Ended
Mar. 29, 2020
Revenue from Contract with Customer [Abstract]
Revenue RecognitionRevenue Recognition Revenue Recognition Revenue is recognized when control of the promised goods or content 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 or content. 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 probable. Contract Assets and Liabilities Within our Entertainment, Licensing and Digital segment and our eOne segment the Company may receive royalty payments from licensees in advance of the licensees’ subsequent sales to their customers, or in advance of the Company’s performance obligation being satisfied. In addition, the Company may receive payments from its digital gaming business in advance of the recognition of the revenues. The Company defers revenues on these advanced payments until its performance obligation is satisfied and records the aggregate deferred revenues as liabilities. The Company records contract assets in the case of minimum guarantees that are being recognized ratably over the term of the respective license periods which varies based on sales over and above the contracts’ minimum guarantee. The current portion of contract assets were recorded in Prepaid Expenses and Other Current Assets, respectively, and the long-term portion were recorded as Other Long-Term Assets. At March 29, 2020 and March 31, 2019, the Company had the following contract assets and liabilities in its consolidated balance sheets: March 29, 2020 March 31, 2019 Assets Contract assets - current $ 271,120 23,857 Contract assets - long term 87,496 3,434 Total $ 358,616 27,291 Liabilities Contract liabilities 184,064 47,678 Total $ 184,064 47,678 In connection with the Company’s acquisition of eOne, the Company acquired $291,427 of contract assets, of which $234,532 were recorded in Prepaid Expenses and Other Current Assets and $56,895 were recorded in Other Long-term Assets, within the Company’s consolidated balances sheets. In addition, the Company acquired deferred revenues from eOne in the amount of $189,654 which were recorded in Accrued Liabilities within the Company's consolidated balance sheets. In the first quarter of 2020, the Company recognized revenues of $80,652 related to these liabilities. Contract assets and liabilities acquired from eOne represent approximately 87% and 79% of total contract asset balances and total contract liability balances, respectively, as of March 29, 2020. Disaggregation of revenues The Company disaggregates its revenues from contracts with customers by segment: U.S. and Canada, International, Entertainment, Licensing and Digital, and eOne. 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 five brand categories: Franchise brands, Partner brands, Hasbro gaming, Emerging brands, and TV/Film/Entertainment. We believe these collectively depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. See Note 12, Segment Reporting, for further information.

Business Combination

Business Combination3 Months Ended
Mar. 29, 2020
Business Combinations [Abstract]
Business CombinationBusiness Combination On December 30, 2019, the Company completed its acquisition of eOne, a global independent studio that specializes in the development, acquisition, production, financing, distribution and sales of entertainment content. eOne's principal brand, PEPPA PIG, which was launched in the United Kingdom in May 2004, entertains pre-school children worldwide with much of its historical revenue generated through licensing and merchandising programs across multiple retail categories. eOne’s portfolio of pre-school brands also includes PJ MASKS and RICKY ZOOM. The addition of eOne accelerates the Company's brand blueprint strategy by expanding our brand portfolio with eOne's global preschool brands, adding proven TV and film expertise and executive leadership as well as by enhancing brand building capabilities and our storytelling capabilities to strengthen Hasbro brands. The all-cash transaction was valued at approximately £2,900,000 based on the consideration of £5.60 per common share of eOne. Converted at the rate of $1.31 USD/GBP on December 30, 2019, the cash consideration for shares outstanding was approximately $3,658,000 . The Company also redeemed eOne's outstanding senior secured notes and paid off the debt outstanding under eOne's revolving credit facility, which together represent approximately $831,000 of eOne's indebtedness. The total cash consideration transferred by the Company was approximately $4,635,000 . The total consideration transferred, in thousands of dollars except per share data, was as follows: Acquisition Consideration eOne common shares outstanding as of December 30, 2019 498,040 Cash consideration per share $ 7.35 Total consideration for shares outstanding 3,658,345 Cash consideration for employee share based payment awards outstanding 145,566 Cash consideration for extinguishment of debt 831,130 Total cash consideration 4,635,041 Less: Employee awards to be recorded as future stock compensation expense 47,399 Total consideration transferred $ 4,587,642 The Company financed the acquisition with proceeds from the following debt and equity financings: (1) the issuance of senior unsecured notes in an aggregate principal amount of $2,375,000 in November 2019, (2) the issuance of 10,592 shares of common stock at a public offering price of $95.00 per share in November 2019 (resulting in net proceeds of $975,185 ) and (3) $1,000,000 in term loans provided by a term loan agreement, which were borrowed on the date of closing. See Note 6 for further discussion of the issuance of the senior unsecured notes and term loan agreement. The acquisition was accounted for as a business combination under FASB Accounting Standards Codification Topic 805, Business Combinations (“Topic 805”). Pursuant to Topic 805, the Company allocated the eOne purchase price to tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date, December 30, 2019. The excess of the purchase price over those fair values was recorded to goodwill. The Company's evaluations of the facts and circumstances available as of December 30, 2019, to assign fair values to assets acquired and liabilities assumed, including income tax related amounts, are ongoing. As we complete further analysis of assets including program rights, investment in films and television content, intangible assets, as well as deferred revenue, noncontrolling interest, tax and certain other liabilities, additional information on the assets acquired and liabilities assumed may become available. A change in information related to the net assets acquired may change the amount of the purchase price assigned to goodwill, and as a result, the preliminary fair values set forth below are subject to adjustment as additional information is obtained and valuations are completed. Provisional adjustments, if any, will be recognized during the reporting period in which the adjustments are determined. We expect to finalize the purchase price allocation as soon as practicable, but no later than one year from the acquisition date. The following table summarizes our preliminary allocation of the December 30, 2019 eOne purchase price (in thousands of dollars): Estimated Fair Value Cash, cash equivalents and restricted cash $ 183,713 Accounts receivable, net 259,061 Inventories 7,029 Other current assets 286,270 Property, plant and equipment (including right of use assets) 90,339 Intangible assets 1,055,249 Content assets - IIC and IIP 751,524 Other assets 183,209 Short-term borrowings (60,533 ) Accounts payable, and accrued liabilities (772,097 ) Long-term debt (including current portion) (149,118 ) Other liabilities (262,644 ) Noncontrolling interests (63,541 ) Estimated fair value of net assets acquired 1,508,461 Goodwill 3,079,181 Total purchase price $ 4,587,642 Intangible assets consist of intellectual property associated with established brands, eOne artist relationships, eOne music catalogs and trademarks and tradenames with estimated useful lives ranging from 7 to 15 years , determined based on when the related cash flows are expected to be realized. The fair value of the intangible assets acquired was determined based on the estimated future cash flows to be generated from the acquired assets, considering assumptions related to contract renewal rates and estimated brand franchise revenue growth. Investments in productions and content includes the fair value of completed films and television programs which have been produced by eOne or for which eOne has acquired distribution rights, as well as the fair value of films and television programs in production, pre-production and development. For films and television programs, fair values were estimated based on forecasted cash flows, discounted to present value. For titles less than 3 years old and titles in development, the content assets will be amortized using the individual film forecast method, wherein the amortization will phase to the revenues incurred. For titles over 3 years , the estimated useful life is 10 years , and will be amortized straight-line over that period. Deferred tax liabilities within other liabilities were adjusted to record the deferred tax impact of purchase price accounting adjustments, primarily related to intangible assets. Other fair value adjustments were made to accounts receivable, net and other assets to reflect the fair value of certain assets upon acquisition. The former eOne senior notes were adjusted to fair value prior to extinguishment using quoted market values, and the fair value of the outstanding amounts under eOne's credit facility were estimated to approximate their carrying values. Goodwill of $3,079,181 represents the excess of the purchase price over the fair value of the underlying tangible and identifiable intangible assets acquired and liabilities assumed. The acquisition goodwill represents the value placed on the combined company’s brand building capabilities, our storytelling capabilities and franchise economics in TV, film and other mediums to strengthen Hasbro brands. In addition, the acquisition goodwill depicts added benefits of long-term profitable growth through in-sourcing toy and game production for the acquired pre-school brands and cost-synergies, as well as future revenue growth opportunities. The goodwill recorded as part of this acquisition is included in the newly created eOne segment. The goodwill associated with the fair value step-up of the acquisition will not be amortized for financial reporting purposes and will not be deductible for federal tax purposes. Changes in the carrying amount of goodwill, by operating segment, for the three months ended March 29, 2020 is as follows: (in thousands of dollars) U.S and Canada International Entertainment, Licensing and Digital eOne Total Balance at December 29,2019 $ 291,577 170,218 32,789 — $ 494,584 Acquired during the period — — — 3,079,181 3,079,181 Foreign exchange translation — (321 ) (794 ) — (1,115 ) Balance at March 29, 2020 $ 291,577 169,897 31,995 3,079,181 $ 3,572,650 The following table summarizes net revenues and loss before income taxes of eOne included in the Company's Consolidated Statement of Operations since the date of acquisition for the quarter ended March 29, 2020 (in thousands of dollars). Quarter Ended March 29, 2020 eOne: Net revenues $ 342,493 Loss before income taxes (33,620 ) In the first quarter of 2020, the Company incurred $149,782 of charges related to the eOne Acquisition, which are recorded in acquisition and related charges within the Company’s Consolidated Statement of Operations. Included within the eOne results above were $77,729 of acquisition and related charges. The remaining charges were included in Corporate and Eliminations. The acquisition and related costs of $149,782 consist of the following: • Acquisition and integration costs of $95,718 , including $47,339 of expense associated with the acceleration of eOne stock-based compensation and $38,168 of advisor fees settled at the closing of the acquisition, as well as integration costs; and • Restructuring and related costs of $54,064 , including severance and retention costs of $13,186 , as well as $40,878 in impairment charges for certain definite-lived intangible and production assets. The impairment charges of $40,878 were driven by the change in strategy for the combined company’s entertainment assets. Pursuant to Topic 805, unaudited supplemental pro forma results of operations for the three months ended March 31, 2019, as if the acquisition of eOne had occurred on December 31, 2018, the first day of the Company’s 2019 fiscal year are presented below (in thousands, except per share amounts): Unaudited March 31, 2019 Revenues $ 1,198,722 Net earnings 79,134 Net earnings attributable to Hasbro, Inc. 76,405 Net earnings per common share: Diluted $ 0.56 Basic $ 0.56 The Company acquired eOne on the first day of fiscal year 2020, as such our actual results reflect the acquisition occurring on the first day of the current period. These pro forma results do not represent financial results that would have been realized had the acquisition occurred on December 31, 2018, nor are they intended to be a projection of future results. The unaudited pro forma results include certain pro forma adjustments to net earnings that were directly attributable to the acquisition, as if the acquisition had occurred on December 31, 2018, including the following: • additional amortization expense of $12,480 that would have been recognized as a result of the allocation of purchase consideration to definite-lived intangible assets subject to amortization; • estimated differences in interest expense of $19,105 as a result of incurring new debt and extinguishing historical eOne debt; and • the income tax effect of the pro forma adjustments in the amount of $6,570 , calculated using a blended statutory income tax rate of 22.5% for the eOne amortization and elimination of historical interest adjustments, and a blended statutory tax rate of 21% for the new debt interest.

Earnings (Loss) Per Share

Earnings (Loss) Per Share3 Months Ended
Mar. 29, 2020
Earnings Per Share [Abstract]
Earnings (Loss) Per ShareEarnings (Loss) Per Share Net earnings per share data for the quarters ended March 29, 2020 and March 31, 2019 were computed as follows: 2020 2019 Quarter Basic Diluted Basic Diluted Net earnings (loss) attributable to Hasbro, Inc. $ (69,637 ) (69,637 ) 26,727 26,727 Average shares outstanding 137,147 137,147 126,287 126,287 Effect of dilutive securities: Options and other share-based awards — — — 529 Equivalent Shares 137,147 137,147 126,287 126,816 Net earnings (loss) attributable to Hasbro, Inc. per common share $ (0.51 ) (0.51 ) 0.21 0.21 For the quarters ended March 29, 2020 and March 31, 2019 , options and restricted stock units totaling 4,055 and 1,693 , respectively, were excluded from the calculation of diluted earnings per share because to include them would have been anti-dilutive. Of the 2020 amount, 1,151 shares would have been included in the calculation of diluted shares had the Company not had a net loss in the first quarter of 2020. Assuming that these awards and options were included, under the treasury stock method, they would have resulted in an additional 372 shares being included in the diluted earnings per share calculation for the quarter ended March 29, 2020 .

Other Comprehensive Earnings (L

Other Comprehensive Earnings (Loss)3 Months Ended
Mar. 29, 2020
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Other Comprehensive Earnings (Loss) Other Comprehensive Earnings (Loss) Components of other comprehensive earnings (loss) are presented within the consolidated statements of comprehensive earnings (loss). The following table presents the related tax effects on changes in other comprehensive earnings (loss) for the quarters ended March 29, 2020 and March 31, 2019 . Quarter Ended March 29, March 31, Other comprehensive earnings (loss), tax effect: Tax benefit (expense) on unrealized holding gains (losses) $ 118 (77 ) Tax expense on cash flow hedging activities (7,203 ) (3 ) Reclassifications to earnings, tax effect: Tax expense on cash flow hedging activities 267 346 Tax benefit on unrecognized pension and postretirement amounts reclassified to the consolidated statements of operations (80 ) (331 ) Total tax effect on other comprehensive earnings (loss) $ (6,898 ) (65 ) Changes in the components of accumulated other comprehensive earnings (loss) for the three months ended March 29, 2020 and March 31, 2019 are as follows: Pension and Postretirement Amounts Gains (Losses) on Derivative Instruments Unrealized Holding Gains (Losses) on Available- for-Sale Securities Foreign Currency Translation Adjustments Total Accumulated Other Comprehensive Loss 2020 Balance at December 29, 2019 $ (36,129 ) (5,232 ) (230 ) (142,629 ) (184,220 ) Current period other comprehensive earnings (loss) 274 21,351 (410 ) (131,767 ) (110,552 ) Balance at March 29, 2020 $ (35,855 ) 16,119 (640 ) (274,396 ) (294,772 ) 2019 Balance at December 30, 2018 $ (143,134 ) 1,549 (744 ) (152,185 ) (294,514 ) Current period other comprehensive earnings (loss) 1,139 3,778 265 6,993 12,175 Balance at March 31, 2019 $ (141,995 ) 5,327 (479 ) (145,192 ) (282,339 ) Gains (Losses) on Derivative Instruments At March 29, 2020 , the Company had remaining net deferred gains on foreign currency forward contracts, net of tax, of $33,687 in accumulated other comprehensive loss ("AOCE"). These instruments hedge payments related to inventory purchased in the first quarter of 2020 or forecasted to be purchased during the remainder of 2020 through 2022, intercompany expenses expected to be paid or received during 2020, television and movie production costs paid in 2020, and cash receipts for sales made at the end of the first quarter of 2020 or forecasted to be made in the remainder of 2020 and, to a lesser extent, 2021 through 2022. 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, the 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 March 29, 2020 , deferred losses, net of tax of $17,568 related to these instruments remained in AOCE. For the quarters ended March 29, 2020 and March 31, 2019 , previously deferred losses of $450 , were reclassified from AOCE to net earnings. Of the amount included in AOCE at March 29, 2020 , the Company expects net gains of approximately $24,085 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
Mar. 29, 2020
Debt Disclosure [Abstract]
Financial InstrumentsFinancial Instruments The Company's financial instruments include cash and cash equivalents, accounts receivable, short-term borrowings, accounts payable and certain accrued liabilities. At March 29, 2020 , March 31, 2019 and December 29, 2019 , the carrying cost of these instruments approximated their fair value. The Company's financial instruments at March 29, 2020 , March 31, 2019 and December 29, 2019 also include certain assets and liabilities measured at fair value (see Notes 9 and 10) 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 March 29, 2020 , March 31, 2019 and December 29, 2019 are as follows: March 29, 2020 March 31, 2019 December 29, 2019 Carrying Cost Fair Value Carrying Cost Fair Value Carrying Cost Fair Value 3.90% Notes Due 2029 $ 900,000 774,540 — — 900,000 893,430 3.55% Notes Due 2026 675,000 641,588 — — 675,000 680,670 3.00% Notes Due 2024 500,000 480,600 — — 500,000 502,150 6.35% Notes Due 2040 500,000 498,200 500,000 548,200 500,000 581,600 3.50% Notes Due 2027 500,000 465,400 500,000 479,450 500,000 500,550 2.60% Notes Due 2022 300,000 295,320 — — 300,000 300,960 5.10% Notes Due 2044 300,000 251,670 300,000 285,990 300,000 301,980 3.15% Notes Due 2021 300,000 299,880 300,000 301,440 300,000 303,900 6.60% Debentures Due 2028 109,895 122,643 109,895 129,445 109,895 130,610 Variable % Notes Due December 30, 2022 400,000 400,000 — — — — Variable % Notes Due December 30, 2024 600,000 600,000 — — — — Production Financing Facilities 175,572 175,572 — — — — Total long-term debt $ 5,260,467 5,005,413 1,709,895 1,744,525 4,084,895 4,195,850 Less: Deferred debt expenses 39,736 — 14,433 — 38,438 — Less: Current portion 64,441 — — — — — Long-term debt $ 5,156,290 5,005,413 1,695,462 1,744,525 4,046,457 4,195,850 In November of 2019, in conjunction with the Company's acquisition of eOne, the Company issued an aggregate of $2,375,000 of senior unsecured debt securities (the "Notes") consisting of the following tranches: $300,000 of notes due 2022 (the "2022 Notes") that bear interest at a fixed rate of 2.60% , $500,000 of notes due 2024 (the "2024 Notes") that bear interest at a fixed rate of 3.00% , $675,000 of notes due 2026 (the "2026 Notes") that bear interest at a fixed rate of 3.55% and $900,000 of notes due 2029 (the "2029 Notes") that bear interest at a fixed rate of 3.90% . Net proceeds from the issuance of the Notes, after deduction of $20,043 of underwriting discount and fees, totaled $2,354,957 . These costs are being amortized over the life of the Notes, which range from three to ten years . The Notes bear interest at the stated rates but may be subject to upward adjustment if the credit rating of the Company is reduced by Moody's or Standard & Poors. The adjustment can be from 0.25% to 2.00% based on the extent of the ratings decrease. The Company may redeem the Notes at its option at the greater of the principal amount of the Notes or the present value of the remaining scheduled payments discounted using the effective interest rate on applicable U.S. Treasury bills at the time of repurchase, plus (1) 15 basis points (in the case of the 2022 Notes); (2) 25 basis points (in the case of the 2024 Notes); (3) 30 basis points (in the case of the 2026 Notes); and (4) 35 basis points (in the case of the 2029 Notes). In addition, on and after October 19, 2024 for the 2024 Notes, September 19, 2026 for the 2026 Notes and August 19, 2029 for the 2029 Notes, such series of Notes will be redeemable, in whole at any time or in part from time to time, at the Company's option at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus an accrued and unpaid interest. Of the Company’s long-term borrowings, the $300,000 of 3.15% Notes mature in 2021. All of the Company’s other long-term borrowings have contractual maturities that occur subsequent to 2021 with the exception of certain of the Company’s production financing facilities. In September of 2019, the Company entered into a $1.0 billion Term Loan Agreement (the "Term Loan Agreement”) with Bank of America N.A. (“Bank of America”), as administrative agent, and certain financial institutions as lenders, pursuant to which such lenders committed to provide, contingent upon the completion of the eOne Acquisition and certain other customary conditions to funding, (1) a three-year senior unsecured term loan facility in an aggregate principal amount of $400,000 (the “Three-Year Tranche”) and (2) a five-year senior unsecured term loan facility in an aggregate principal amount of $600,000 (the “Five-Year Tranche” and together with the Three-Year Tranche, the “Term Loan Facilities”). Loans under the Term Loan Facilities will bear interest at the Company’s option, at either the Eurocurrency Rate or the Base Rate, in each case plus a per annum applicable rate that fluctuates (1) in the case of the Three-Year Tranche, between 87.5 basis points and 175.0 basis points, in the case of loans priced at the Eurocurrency Rate, and between 0.0 basis points and 75.0 basis points, in the case of loans priced at the Base Rate, and (2) in the case of the Five-Year Tranche, between 100.0 basis points and 187.5 basis points, in the case of loans priced at the Eurocurrency Rate, and between 0.0 basis points and 87.5 basis points, in the case of loans priced at the Base Rate, in each case, based upon the non-credit enhanced, senior unsecured long-term debt ratings of the Company by Fitch Ratings Inc., Moody’s Investor Service, Inc. and S&P Global Rankings, subject to certain provisions taking into account potential differences in ratings issued to the relevant rating agencies or a lack of ratings issued by such rating agencies. Loans under the Five-Year Tranche will require principal amortization payments that will be payable in equal quarterly installments of 5.0% per annum of the original principal amount thereof for each of the first two years after funding, increasing to 10.0% per annum of the original principal amount thereof for each subsequent year. The Term Loan Agreement contains affirmative and negative covenants typical of this type of facility, including: (i) restrictions on the Company’s and its domestic subsidiaries’ ability to allow liens on their assets, (ii) restrictions on the incurrence of indebtedness, (iii) restrictions on the Company’s and certain of its subsidiaries’ ability to engage in certain mergers, (iv) the requirement that the Company maintain a Consolidated Interest Coverage Ratio of no less than 3.00 :1.00 as of the end of any fiscal quarter and (v) the requirement that the Company maintain a Consolidated Total Leverage Ratio of no more than, depending on the gross proceeds of equity securities issued after the effective date of the acquisition of eOne, 5.65 :1.00 or 5.40 :1.00 for each of the first, second and third fiscal quarters ended after the funding of the Term Loan Facilities, with periodic step downs to 3.50 :1.00 for the fiscal quarter ending December 31, 2023 and thereafter. The notes were drawn down on December 30, 2019, the closing date of the eOne Acquisition. As of March 29, 2020, the Company was in compliance with the financial covenants contained in the Term Loan Agreement. The fair values of the Company's long-term debt are considered Level 3 fair values (see Note 9 for further discussion of the fair value hierarchy) and are measured using the discounted future cash flows method. In addition to the debt terms, the valuation methodology includes an assumption of a discount rate that approximates the current yield on a similar debt security. This assumption is considered an unobservable input in that it reflects the Company's own assumptions about the inputs that market participants would use in pricing the asset or liability. The Company believes that this is the best information available for use in the fair value measurement. Production Financing In addition to the Company's financial instruments, the Company uses production financing to fund certain of its television and film productions which are arranged on an individual production basis by special purpose production subsidiaries. Production financing facilities are secured by the assets and future revenue of the individual production subsidiaries and are non-recourse to the Company's assets. Production financing facilities typically have maturities of less than two years, while the titles are in production, and are repaid once delivered and all credits, broadcaster pre-sales and international sales have been received. Quarter Ended March 29, 2020 Production financing held by production subsidiaries $ 175,572 Other loans 9,405 Total $ 184,977 Production financing shown in the consolidated balance sheet as: Non-current $ 141,131 Current 34,441 Total $ 175,572 Interest is charged at bank prime rate plus a margin based on the risk of the respective production. The weighted average interest rate on all production financing as of March 29, 2020 was 4.1% . The Company has Canadian dollar and U.S. dollar production credit facilities with various banks. The carrying amounts are denominated in the following currencies: Canadian Dollars U.S. Dollars Total As of March 29, 2020 $ 73,485 111,492 184,977 The following table represents the movements in production financing and other related loans acquired as a result of the eOne Acquisition during the first quarter of 2020: Production Financing Other Loans Total December 30, 2019 $ 209,651 9,102 $ 218,753 Drawdowns 20,511 7,996 28,507 Repayments (50,186 ) (8,916 ) (59,102 ) Foreign exchange differences (4,404 ) 1,223 (3,181 ) Balance at March 29, 2020 $ 175,572 9,405 184,977

eOne Investments in Productions

eOne Investments in Productions and Investments in Acquired Content Rights3 Months Ended
Mar. 29, 2020
Other Industries [Abstract]
eOne Investment in Productions and Investments in Acquired Content RightseOne Investments in Productions and Investments in Acquired Content Rights In connection with the Company's acquisition of eOne, the Company acquired eOne's library of television and film and music content rights valued at $722,834 as of March 29, 2020 which was recorded in other assets within the Company's consolidated balance sheets. Investments in productions and investments in acquired content rights are recorded in the consolidated balance sheets to the extent they are considered recoverable against future revenues. These amounts are being amortized to program cost amortization using a model that reflects the consumption of the asset as it is released through various channels including broadcast licenses, theatrical release and home entertainment. Amounts capitalized are to be reviewed periodically and any portion of the unamortized amount that appears not to be recoverable from future net revenues will be expensed as part of program cost amortization during the period the loss becomes evident. Costs associated with the Company's investments in eOne productions and investments in acquired content rights consisted of the following at March 29, 2020: Quarter Ended March 29, 2020 Film Programming Released, less amortization $ 300,619 Completed and not released 63,100 In production 25,702 Pre-production 20,248 409,669 TV Programming Released, less amortization 101,925 Completed and not released 74,900 In production 64,188 Pre-production 59,863 300,876 Other Programming Released, less amortization 10,112 In production 2,177 12,289 Total program costs $ 722,834 The Company recorded $ 123,383 of program cost amortization related to the above programming in the quarter ended March 29, 2020, consisting of the following: Investment in Production Investment in Content Total Program cost amortization $ 83,404 39,979 123,383

Fair Value of Financial Instrum

Fair Value of Financial Instruments3 Months Ended
Mar. 29, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial InstrumentsFair Value of Financial Instruments The Company measures certain financial instruments at fair value. The fair value hierarchy consists of three levels: Level 1 fair values are based on quoted market prices in active markets for identical assets or liabilities that the entity has the ability to access; Level 2 fair values are those based on quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities; and Level 3 fair values are based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Accounting standards permit entities to measure many financial instruments and certain other items at fair value and establish presentation and disclosure requirements designed to facilitate comparisons between entities that choose different measurement attributes for similar assets and liabilities. The Company has elected the fair value option for certain available-for-sale investments. At March 29, 2020 , March 31, 2019 and December 29, 2019 , these investments totaled $24,804 , $24,188 and $25,518 , respectively, and are included in prepaid expenses and other current assets in the consolidated balance sheets. The Company recorded net (losses) gains of $(431) and $550 on these investments in other (income) expense, net for the quarters ended March 29, 2020 and March 31, 2019 , respectively, related to the change in fair value of such instruments. At March 29, 2020 , March 31, 2019 and December 29, 2019 , the Company had the following assets and liabilities measured at fair value in its consolidated balance sheets (excluding assets for which the fair value is measured using net asset value per share): Fair Value Measurements Using: Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) March 29, 2020 Assets: Available-for-sale securities $ 768 768 — — Derivatives 46,781 — 46,781 — Total assets $ 47,549 768 46,781 — Liabilities: Derivatives $ 13,131 — 13,131 — Option agreement 20,836 — — 20,836 Total liabilities $ 33,967 — 13,131 20,836 March 31, 2019 Assets: Available-for-sale securities $ 975 975 — — Derivatives 32,296 — 32,296 — Total assets $ 33,271 975 32,296 — Liabilities: Derivatives $ 45 — 45 — Option agreement 23,144 — — 23,144 Total liabilities $ 23,189 — 45 23,144 December 29, 2019 Assets: Available-for-sale securities $ 1,296 1,296 — — Derivatives 48,973 — 48,973 — Total assets $ 50,269 1,296 48,973 — Liabilities: Derivatives $ 5,733 — 5,733 — Option agreement 22,145 — — 22,145 Total Liabilities $ 27,878 — 5,733 22,145 Available-for-sale securities include equity securities of one company quoted on an active public market. The Company's derivatives consist of foreign currency forward and option contracts and zero-cost collar options. 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 investment in Discovery Family Channel ("Discovery"). The option agreement is included in other liabilities at March 29, 2020 , March 31, 2019 and December 29, 2019 , and is valued using an option pricing model based on the fair value of the related investment. Inputs used in the option pricing model include the volatility and fair value of the underlying company which are considered unobservable inputs as they reflect the Company's own assumptions about the inputs that market participants would use in pricing the asset or liability. The Company believes that this is the best information available for use in the fair value measurement. There were no changes in these valuation techniques during the three month period ended March 29, 2020 . 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): 2020 2019 Balance at beginning of year $ (22,145 ) (23,440 ) Gain from change in fair value 1,309 296 Balance at end of first quarter $ (20,836 ) (23,144 ) In addition to the above, the Company has three investments for which the fair value is measured using net asset value per share. At March 29, 2020 , March 31, 2019 and December 29, 2019 , these investments had fair values of $24,804 , $24,188 and $25,518 , 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 generally redeemable on a quarterly basis with 30 days – 90 days ’ notice.

Income Taxes

Income Taxes3 Months Ended
Mar. 29, 2020
Income Tax Disclosure [Abstract]
Income TaxesIncome Taxes The Company and its subsidiaries file income tax returns in the United States and various state and international jurisdictions. In the normal course of business, the Company is regularly audited by U.S. federal, state and local, and international tax authorities in various tax jurisdictions. Our effective tax rate (ETR) from continuing operations was 5.7% for the quarter ended March 29, 2020 and 9.7% for the quarter ended March 31, 2019. The following items caused the quarterly ETR to be significantly different from our historical annual ETR: • during the quarter ended March 29, 2020, the Company recorded a discrete net tax benefit of $20,081 , of which $22,332 is a result of the eOne acquisition and related costs incurred. Additionally, our estimated annual ETR increased to 20.6% from 18.5% as a result of the eOne acquisition during the first quarter of 2020, and a change in the mix of forecasted income by jurisdiction. • during the quarter ended March 31, 2019, we recorded a discrete net tax benefit of $2,607 primarily associated with the decrease to our liability for uncertain tax positions that resulted from statute of limitations expiring in certain jurisdictions. In May 2019, a public referendum held in Switzerland approved Swiss Federal Act on Tax Reform and AHV Financing (TRAF) proposals previously approved by Swiss Parliament. The Swiss tax reform measures were effective on January 1, 2020. Changes in tax reform include the abolishment of preferential tax regimes for holding companies, domicile companies and mixed companies at the cantonal level. The enacted changes in Swiss federal tax were not material to the Company's consolidated financial statements. Swiss cantonal tax was enacted in December 2019. The Company is still assessing the transitional provision options it may elect; however, the legislation is not expected to have a material effect on the Company’s consolidated financial statements. We will continue to review TRAF as the Swiss authorities provide additional interpretive guidance on the new law and related transitional methodology. 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 local 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.

Derivative Financial Instrument

Derivative Financial Instruments3 Months Ended
Mar. 29, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial InstrumentsDerivative Financial Instruments Hasbro uses foreign currency forward contracts and zero-cost collar options to mitigate the impact of currency rate fluctuations on firmly committed and projected future foreign currency transactions. These over-the-counter contracts, which hedge future currency requirements related to purchases of inventory, product sales, television and film production cost and production financing loans (see Note 6) as well as other cross-border transactions not denominated in the functional currency of the business unit, are primarily denominated in United States and Hong Kong dollars, and Euros. All contracts are entered into with a number of counterparties, all of which are major financial institutions. The Company believes that a default by a single counterparty would not have a material adverse effect on the financial condition of the Company. Hasbro does not enter into derivative financial instruments for speculative purposes. Cash Flow Hedges The Company uses foreign currency forward contracts and zero-cost collar options 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 and zero-cost collar options are considered to be cash flow hedges. These instruments hedge a portion of the Company's currency requirements associated with anticipated inventory purchases, product sales, certain production financing loans and other cross-border transactions in 2020 through 2022. At March 29, 2020 , March 31, 2019 and December 29, 2019 , the notional amounts and fair values of the Company's foreign currency forward contracts designated as cash flow hedging instruments were as follows: March 29, 2020 March 31, 2019 December 29, 2019 Hedged transaction Notional Amount Fair Value Notional Amount Fair Value Notional Amount Fair Value Inventory purchases $ 343,227 32,186 486,999 21,649 398,800 8,727 Sales 101,120 4,761 263,221 8,358 124,920 4,037 Production financing and other 161,303 6,687 26,422 190 19,499 140 Total $ 605,650 43,634 776,642 30,197 543,219 12,904 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 March 29, 2020 , March 31, 2019 and December 29, 2019 as follows: March 29, March 31, December 29, Prepaid expenses and other current assets Unrealized gains $ 40,376 22,737 12,133 Unrealized losses (1,893 ) (2,008 ) (3,955 ) Net unrealized gains $ 38,483 20,729 8,178 Other assets Unrealized gains $ 7,128 9,752 6,652 Unrealized losses — (239 ) — Net unrealized gains $ 7,128 9,513 6,652 Accrued liabilities Unrealized gains $ — — 293 Unrealized losses (1,974 ) (45 ) (2,219 ) Net unrealized losses $ (1,974 ) (45 ) (1,926 ) Other liabilities Unrealized gains $ — — — Unrealized losses (3 ) — — Net unrealized losses $ (3 ) — — Net gains (losses) on cash flow hedging activities have been reclassified from other comprehensive earnings (loss) to net earnings for the quarters ended March 29, 2020 and March 31, 2019 as follows: Quarter Ended March 29, March 31, Statements of Operations Classification Cost of sales $ 3,957 2,614 Net revenues 343 878 Other 81 118 Net realized gains $ 4,381 3,610 Undesignated Hedges The Company also enters into foreign currency forward contracts to minimize the impact of changes in the fair value of intercompany loans due to foreign currency changes. The Company does not use hedge accounting for these contracts as changes in the fair values of these contracts are substantially offset by changes in the fair value of the intercompany loans. Additionally, with the acquisition of eOne during the first quarter of 2020, the Company continued eOne's balance sheet hedging program designed to manage transactional exposure to fair value movements on certain of eOne's foreign currency denominated monetary assets and liabilities. The Company does not use hedge accounting for these contracts as changes in the fair values of these contracts are offset by changes in the fair value of the balance sheet item. As of March 29, 2020 , March 31, 2019 and December 29, 2019 the total notional amounts of the Company's undesignated derivative instruments were $238,187 , $293,326 and $307,351 , respectively. At March 29, 2020 , March 31, 2019 and December 29, 2019 , the fair values of the Company's undesignated derivative financial instruments were recorded in the consolidated balance sheets as follows: March 29, March 31, December 29, Prepaid expenses and other current assets Unrealized gains $ 1,170 2,391 — Unrealized losses — (337 ) — Net unrealized gains $ 1,170 2,054 — Accrued liabilities Unrealized gains $ 1,252 — 13 Unrealized losses (12,406 ) — (3,820 ) Net unrealized losses $ (11,154 ) — (3,807 ) Total unrealized (losses) gains, net $ (9,984 ) 2,054 (3,807 ) The Company recorded net gains of $2,499 and $4,809 on these instruments to other (income) expense, net for the quarters ended March 29, 2020 and March 31, 2019 , 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. eOne Purchase Price Hedge During the third quarter of 2019 the Company hedged a portion of its exposure to fluctuations in the British pound sterling in relation to the eOne Acquisition purchase using a series of both foreign exchange forward and option contracts. These contracts did not qualify for hedge accounting and as such, were marked to market through the Company's Consolidated Statement of Operations. For tax purposes these contracts qualified as nontaxable integrated tax hedges. These contracts matured on December 30, 2019 (the closing date of the transaction) and net gains or losses recognized on these contracts in the first quarter of 2020 were immaterial. For additional information related to the Company's derivative financial instruments see Note 5.

Leases

Leases3 Months Ended
Mar. 29, 2020
Leases [Abstract]
LeasesLeases The Company occupies offices and uses certain equipment under various operating lease arrangements. The Company has no finance leases. These leases have remaining lease terms of 1 to 18 years , some of which include options to extend lease terms or options to terminate current lease terms at certain times, subject to notice requirements set out in the lease agreement. Payments under certain of the lease agreements may be subject to adjustment based on a consumer price index or other inflationary indices. The lease liability for such lease agreements as of the adoption date, was based on fixed payments as of the adoption date. Any adjustments to these payments based on the related indices will be recorded to expense as incurred. Leases with an expected term of 12 months or less are not capitalized. Lease expense under such leases is recorded straight line over the life of the lease. The Company capitalizes non-lease components for equipment leases, but expenses non-lease components as incurred for real estate leases. For the quarters ended March 29, 2020 and March 31, 2019, operating lease expense was $22,897 and $16,561 , respectively. Expense related to short-term leases (expected terms less than 12 months) and variable lease payments was not material in the quarters ended March 29, 2020 or March 31, 2019. Information related to the Company’s leases for the quarters ended March 29, 2020 and March 31, 2019 are as follows: Quarter Ended March 29, March 31, Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 11,602 $ 9,574 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 64,214 $ 23,680 Weighted Average Remaining Lease Term Operating leases 6.0 years 6.7 years Weighted Average Discount Rate Operating leases 4.2 % 4.5 % The following is a reconciliation of future undiscounted cash flows to the operating liabilities, and the related right of use assets, included in our Consolidated Balance Sheets as of March 29, 2020 : March 29, 2020 (excluding the three months ended March 29, 2020) $ 35,280 2021 45,207 2022 41,609 2023 33,842 2024 22,266 2025 and thereafter 66,743 Total future lease payments 244,947 Less imputed interest 49,151 Present value of future operating lease payments 195,796 Less current portion of operating lease liabilities (1) 43,263 Non-current operating lease liability (2) 152,533 Operating lease right-of-use assets, net (3) $ 168,805 (1) Included in Accrued liabilities on the consolidated balance sheets. (2) Included in Other liabilities on the consolidated balance sheets. (3) Included in Property, plant, and equipment on the consolidated balance sheets.

Segment Reporting

Segment Reporting3 Months Ended
Mar. 29, 2020
Segment Reporting [Abstract]
Segment ReportingSegment 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, Licensing and Digital, (iv) eOne, and (v) Global Operations. Following the eOne Acquisition on December 30, 2019, the eOne operating segment was added to the Company's existing reporting structure. 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 traditional 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 Pacific, and Latin and South American regions. The Company's Entertainment, Licensing and Digital segment includes the Company's Wizards of the Coast digital gaming business, consumer products licensing, owned and licensed digital gaming, movie and television entertainment operations. The eOne segment engages in the development, acquisition, production, financing, distribution and sales of entertainment content and is comprised of all legacy eOne operations. These diversified offerings span across film, television and music production and sales, family programming, merchandising and licensing, and digital content. Over time, the Company plans to transition towards reflecting all of its entertainment operations in the eOne segment. The Company also expects to shift the consumer product and digital licensing business and toy and game sales related to the eOne preschool brands to legacy Hasbro segments; including related toy and game operations into the Company's geographic commercial segments in late 2021 and 2022. The Global Operations segment is responsible for 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 Eliminations are certain corporate expenses, including the elimination of intersegment 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 Eliminations. The significant accounting policies of the segments are the same as those referenced in Note 1. Results shown for the quarter ended March 29, 2020 are not necessarily representative of those which may be expected for the full year 2020, nor were those of the comparable 2019 periods representative of those actually experienced for the full year 2019. Similarly, such results are not necessarily those which would be achieved were each segment an unaffiliated business enterprise. Information by segment and a reconciliation to reported amounts for the quarters ended March 29, 2020 and March 31, 2019 are as follows: Quarter Ended March 29, 2020 March 31, 2019 Net revenues External Affiliate External Affiliate U.S. and Canada $ 428,647 3,328 $ 357,851 1,849 International 250,403 — 282,649 41 Entertainment, Licensing and Digital 84,027 971 91,994 1,974 eOne 342,493 — — — Global Operations (a) — 194,856 16 229,425 Corporate and Eliminations (b) — (199,155 ) — (233,289 ) $ 1,105,570 — $ 732,510 — Quarter Ended Operating profit (loss) March 29, March 31, U.S. and Canada $ 71,780 $ 13,532 International (26,691 ) (30,411 ) Entertainment, Licensing and Digital 5,174 30,020 eOne (33,081 ) — Global Operations (a) 4,649 1,254 Corporate and Eliminations (b) (45,114 ) 21,732 $ (23,283 ) $ 36,127 Total assets March 29, March 31, December 29, U.S. and Canada $ 3,335,131 2,600,873 3,244,950 International 2,016,267 2,019,800 2,482,170 Entertainment, Licensing and Digital 869,645 804,288 695,898 eOne 5,850,529 — — Global Operations (a) 3,658,540 706,701 3,334,190 Corporate and Eliminations (b) (5,305,753 ) (1,196,889 ) (901,580 ) $ 10,424,359 4,934,773 8,855,628 (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 between actual and budgeted amounts are reflected in Corporate and Eliminations because allocations are translated from the U.S. Dollar to local currency at budgeted 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 quarters ended March 29, 2020 and March 31, 2019 : Quarter Ended March 29, March 31, Europe $ 162,249 153,379 Latin America 33,921 62,777 Asia Pacific 54,233 66,493 Net revenues $ 250,403 282,649 As a result of the Company's acquisition of eOne, beginning in 2020, the Company's brand architecture reflects the addition of the eOne Entertainment portfolio which consists of legacy eOne film and TV revenues. Revenues related to eOne brands, including PEPPA PIG, PJ MASKS and RICKY ZOOM, are reported in the Emerging Brands portfolio. The following table presents consolidated net revenues by brand and entertainment portfolio for the quarters ended March 29, 2020 and March 31, 2019 : Quarter Ended March 29, March 31, Franchise Brands $ 396,497 $ 393,574 Partner Brands 182,331 171,989 Hasbro Gaming (1) 140,084 107,565 Emerging Brands (2) 94,145 59,382 TV/Film/Entertainment (3) 292,513 — Total $ 1,105,570 732,510 (1) Hasbro's total gaming category, which includes all gaming net revenues, both those reported in Hasbro Gaming and those reported elsewhere, most notably MAGIC: THE GATHERING and MONOPOLY, totaled $340,480 and $243,390 , respectively, for the quarters ended March 29, 2020 and March 31, 2019 . (2) First quarter 2020 balance in Emerging Brands portfolio includes eOne brands PEPPA PIG, PJ MASKS and RICKY ZOOM. (3)

Restructuring Actions

Restructuring Actions3 Months Ended
Mar. 29, 2020
Restructuring Charges [Abstract]
Restructuring ActionsRestructuring Actions During 2018, the Company announced a comprehensive restructuring plan which consists of re-designing its go-to market strategy and re-shaping its organization to become a more responsive, innovative and digitally-driven play and entertainment company. As part of this process the Company took certain actions, which continued through 2019. The actions primarily included headcount reduction aimed at right-sizing the Company’s cost-structure and giving it the ability to add required new talent in the future. In connection with the eOne Acquisition, in the first quarter of 2020, the Company recorded severance and other employee charges related to the integration of eOne. Charges related to the 2018 restructuring were included within selling, distribution and administration costs on the Consolidated Statements of Operations for the year ended December 30, 2018. Charges related to the eOne restructuring costs were recorded within acquisition and related charges on the Consolidated Statements of Operations for the quarter ended March 29, 2020, and reported within Corporate and Eliminations. The detail of activity related to the programs for the first quarter of 2020 is as follows: Remaining amounts to be paid as of December 29, 2019 $ 31,113 eOne restructuring charges 13,186 Payments made in the first quarter of 2020 (9,876 ) Remaining amounts as of March 29, 2020 $ 34,423

Basis of Presentation (Policies

Basis of Presentation (Policies)3 Months Ended
Mar. 29, 2020
Accounting Policies [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 March 29, 2020 and March 31, 2019 , and the results of its operations and cash flows and shareholders' equity for the periods then ended in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and notes thereto. Actual results could differ from those estimates.
Production FinancingProduction Financing Production financing relates to financing facilities for certain of the Company's television and film productions. Beginning in the first quarter of 2020 with the acquisition of eOne, the Company funded certain of its television and film productions using production financing facilities. Production financing facilities are secured by the assets and future revenues of the individual production subsidiaries, typically have maturities of less than two years while the titles are in production, and are repaid once the production is delivered and all tax credits, broadcaster pre-sales and international sales have been received. In connection with the production of a television or film program, the Company records initial cash outflows within cash flows from operating activities due to its investment in the production and concurrently records cash inflows within cash flows from financing activities from the production financing it normally obtains. Under these facilities, certain of the Company's cash is restricted while the financing is outstanding. At March 29, 2020, $86,177 of the Company's cash was restricted by such facilities.
Investment in Productions and Acquired Content RightsInvestment in Productions and Acquired Content Rights The cost of investments in programming ("IIP") and investments in content rights ("IIC") for eOne's television and film libraries are recorded in the consolidated balance sheets at amounts considered recoverable against future revenues. These amounts are amortized to program cost amortization using a model that reflects the consumption of the asset as it is released through different exploitation windows (e.g., broadcast licenses, theatrical release and home entertainment) and the expected revenue earned in each of those stages of release over a period not exceeding 10 years . Amounts capitalized are reviewed regularly and any portion of the unamortized amount that appears not to be recoverable from future net revenues will be written off to program cost amortization during the period in which the loss becomes evident. Certain of these agreements require the Company to pay minimum guaranteed advances ("MGs") for participations and residuals. MGs are recognized in the consolidated balance sheets when a liability arises, usually on delivery of the television or film program to the Company. The current portion of MGs are recorded as Payables and Accrued Liabilities and the long-term portion are recorded as Other Liabilities.
Recently Adopted Accounting Standards and Recently Issued Accounting PronouncementsRecently Adopted Accounting Standards The Company's significant accounting policies are the same as those described in Note 1 to the Company's consolidated financial statements in its 2019 Form 10-K with the exception of the accounting policies disclosed above. In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2016-13 (ASU 2016-13) Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The amendments in this update provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The standard update replaces the incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. For public companies, this standard is effective for annual reporting periods beginning after December 15, 2019, and early adoption was permitted. The Company adopted the standard in the first quarter of 2020 and the adoption of the standard did not have a material impact on its consolidated financial statements. In August 2018, the FASB issued Accounting Standards Update No. 2018-13 (ASU 2018-13), Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement. The amendments in this update modify the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement, specifically related to disclosures surrounding Level 3 asset balances, fair value measurement methods, related gains and losses and fair value hierarchy transfers. For public companies, this standard is effective for annual reporting periods beginning after December 15, 2019, and early adoption was permitted. The Company adopted the standard in the first quarter of 2020 and the adoption of the standard did not have a material impact on its consolidated financial statements. In March 2019, the FASB issued Accounting Standards Update No. 2019-02 (ASU 2019-02) Entertainment-Films-Other Assets-Film Costs (Subtopic 926-20) and Entertainment-Broadcasters-Intangibles-Goodwill and Other (Subtopic 920-350): Improvements to Accounting for Costs of Films and License Agreements for Program Materials. The amendments in this update align cost capitalization of episodic television series production costs with that of film production cost capitalization. In addition, this update addresses impairment testing procedures with regard to film groups, when a film or license agreement is expected to be monetized with other films and/or license agreements. The intention of this update is to align accounting treatment with changes in production and distribution models within the entertainment industry and to provide increased transparency of information provided to users of financial statements about produced and licensed content. For public companies, this standard is effective for annual reporting periods beginning after December 15, 2019, and early adoption was permitted. The Company adopted the standard in the first quarter of 2020 and the adoption of the standard did not have a material impact on its consolidated financial statements. Recently Issued Accounting Pronouncements In August 2018, the FASB issued Accounting Standards Update No. 2018-14 (ASU 2018-14) Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans. The amendments in this update modify the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. For public companies, this standard is effective for annual reporting periods beginning after December 15, 2020, and early adoption is permitted. The standard relates to financial statement disclosure only and will not have an impact on the Company's consolidated statement of financial position, statements of operations and comprehensive earnings (loss) or statement of cash flows.
Revenue RecognitionRevenue Recognition Revenue is recognized when control of the promised goods or content 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 or content. 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 probable. Contract Assets and Liabilities Within our Entertainment, Licensing and Digital segment and our eOne segment the Company may receive royalty payments from licensees in advance of the licensees’ subsequent sales to their customers, or in advance of the Company’s performance obligation being satisfied. In addition, the Company may receive payments from its digital gaming business in advance of the recognition of the revenues. The Company defers revenues on these advanced payments until its performance obligation is satisfied and records the aggregate deferred revenues as liabilities. The Company records contract assets in the case of minimum guarantees that are being recognized ratably over the term of the respective license periods which varies based on sales over and above the contracts’ minimum guarantee. The current portion of contract assets were recorded in Prepaid Expenses and Other Current Assets, respectively, and the long-term portion were recorded as Other Long-Term Assets. Disaggregation of revenues The Company disaggregates its revenues from contracts with customers by segment: U.S. and Canada, International, Entertainment, Licensing and Digital, and eOne. 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 five
LeasesThe Company occupies offices and uses certain equipment under various operating lease arrangements. The Company has no finance leases. These leases have remaining lease terms of 1 to 18 years , some of which include options to extend lease terms or options to terminate current lease terms at certain times, subject to notice requirements set out in the lease agreement. Payments under certain of the lease agreements may be subject to adjustment based on a consumer price index or other inflationary indices. The lease liability for such lease agreements as of the adoption date, was based on fixed payments as of the adoption date. Any adjustments to these payments based on the related indices will be recorded to expense as incurred. Leases with an expected term of 12 months or less are not capitalized. Lease expense under such leases is recorded straight line over the life of the lease. The Company capitalizes non-lease components for equipment leases, but expenses non-lease components as incurred for real estate leases.

Basis of Presentation (Tables)

Basis of Presentation (Tables)3 Months Ended
Mar. 29, 2020
Accounting Policies [Abstract]
Schedule of Redeemable Noncontrolling InterestA breakout of the redeemable noncontrolling interests and noncontrolling interests acquired is listed below. Name Country of Incorporation Proportion held Principal activity Astley Baker Davies Limited England and Wales 70 % Ownership of intellectual property Whizz Kid Entertainment Limited England and Wales 70 % Production of television programs MR Productions Holdings, LLC United States 77 % Film development Renegade Entertainment, LLC United States 65 % Production of television programs Round Room Live, LLC United States 60 % Production of live events

Revenue Recognition (Tables)

Revenue Recognition (Tables)3 Months Ended
Mar. 29, 2020
Revenue from Contract with Customer [Abstract]
Schedule of Contract Assets and LiabilitiesAt March 29, 2020 and March 31, 2019, the Company had the following contract assets and liabilities in its consolidated balance sheets: March 29, 2020 March 31, 2019 Assets Contract assets - current $ 271,120 23,857 Contract assets - long term 87,496 3,434 Total $ 358,616 27,291 Liabilities Contract liabilities 184,064 47,678 Total $ 184,064 47,678

Business Combination (Tables)

Business Combination (Tables)3 Months Ended
Mar. 29, 2020
Business Combinations [Abstract]
Schedule of Total Consideration TransferredThe total consideration transferred, in thousands of dollars except per share data, was as follows: Acquisition Consideration eOne common shares outstanding as of December 30, 2019 498,040 Cash consideration per share $ 7.35 Total consideration for shares outstanding 3,658,345 Cash consideration for employee share based payment awards outstanding 145,566 Cash consideration for extinguishment of debt 831,130 Total cash consideration 4,635,041 Less: Employee awards to be recorded as future stock compensation expense 47,399 Total consideration transferred $ 4,587,642
Summary of Preliminary Allocation of Purchase PriceThe following table summarizes our preliminary allocation of the December 30, 2019 eOne purchase price (in thousands of dollars): Estimated Fair Value Cash, cash equivalents and restricted cash $ 183,713 Accounts receivable, net 259,061 Inventories 7,029 Other current assets 286,270 Property, plant and equipment (including right of use assets) 90,339 Intangible assets 1,055,249 Content assets - IIC and IIP 751,524 Other assets 183,209 Short-term borrowings (60,533 ) Accounts payable, and accrued liabilities (772,097 ) Long-term debt (including current portion) (149,118 ) Other liabilities (262,644 ) Noncontrolling interests (63,541 ) Estimated fair value of net assets acquired 1,508,461 Goodwill 3,079,181 Total purchase price $ 4,587,642
Changes in Carrying Amount of GoodwillChanges in the carrying amount of goodwill, by operating segment, for the three months ended March 29, 2020 is as follows: (in thousands of dollars) U.S and Canada International Entertainment, Licensing and Digital eOne Total Balance at December 29,2019 $ 291,577 170,218 32,789 — $ 494,584 Acquired during the period — — — 3,079,181 3,079,181 Foreign exchange translation — (321 ) (794 ) — (1,115 ) Balance at March 29, 2020 $ 291,577 169,897 31,995 3,079,181 $ 3,572,650
Unaudited Supplemental Pro Forma Results of OperationsPursuant to Topic 805, unaudited supplemental pro forma results of operations for the three months ended March 31, 2019, as if the acquisition of eOne had occurred on December 31, 2018, the first day of the Company’s 2019 fiscal year are presented below (in thousands, except per share amounts): Unaudited March 31, 2019 Revenues $ 1,198,722 Net earnings 79,134 Net earnings attributable to Hasbro, Inc. 76,405 Net earnings per common share: Diluted $ 0.56 Basic $ 0.56 The following table summarizes net revenues and loss before income taxes of eOne included in the Company's Consolidated Statement of Operations since the date of acquisition for the quarter ended March 29, 2020 (in thousands of dollars). Quarter Ended March 29, 2020 eOne: Net revenues $ 342,493 Loss before income taxes (33,620 )

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)3 Months Ended
Mar. 29, 2020
Earnings Per Share [Abstract]
Schedule of Earnings (Loss) Per ShareNet earnings per share data for the quarters ended March 29, 2020 and March 31, 2019 were computed as follows: 2020 2019 Quarter Basic Diluted Basic Diluted Net earnings (loss) attributable to Hasbro, Inc. $ (69,637 ) (69,637 ) 26,727 26,727 Average shares outstanding 137,147 137,147 126,287 126,287 Effect of dilutive securities: Options and other share-based awards — — — 529 Equivalent Shares 137,147 137,147 126,287 126,816 Net earnings (loss) attributable to Hasbro, Inc. per common share $ (0.51 ) (0.51 ) 0.21 0.21

Other Comprehensive Earnings _2

Other Comprehensive Earnings (Loss) (Tables)3 Months Ended
Mar. 29, 2020
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Schedule of Other Comprehensive Income (Loss), Tax EffectThe following table presents the related tax effects on changes in other comprehensive earnings (loss) for the quarters ended March 29, 2020 and March 31, 2019 . Quarter Ended March 29, March 31, Other comprehensive earnings (loss), tax effect: Tax benefit (expense) on unrealized holding gains (losses) $ 118 (77 ) Tax expense on cash flow hedging activities (7,203 ) (3 ) Reclassifications to earnings, tax effect: Tax expense on cash flow hedging activities 267 346 Tax benefit on unrecognized pension and postretirement amounts reclassified to the consolidated statements of operations (80 ) (331 ) Total tax effect on other comprehensive earnings (loss) $ (6,898 ) (65 )
Schedule of Accumulated Other Comprehensive Earnings (Loss)Changes in the components of accumulated other comprehensive earnings (loss) for the three months ended March 29, 2020 and March 31, 2019 are as follows: Pension and Postretirement Amounts Gains (Losses) on Derivative Instruments Unrealized Holding Gains (Losses) on Available- for-Sale Securities Foreign Currency Translation Adjustments Total Accumulated Other Comprehensive Loss 2020 Balance at December 29, 2019 $ (36,129 ) (5,232 ) (230 ) (142,629 ) (184,220 ) Current period other comprehensive earnings (loss) 274 21,351 (410 ) (131,767 ) (110,552 ) Balance at March 29, 2020 $ (35,855 ) 16,119 (640 ) (274,396 ) (294,772 ) 2019 Balance at December 30, 2018 $ (143,134 ) 1,549 (744 ) (152,185 ) (294,514 ) Current period other comprehensive earnings (loss) 1,139 3,778 265 6,993 12,175 Balance at March 31, 2019 $ (141,995 ) 5,327 (479 ) (145,192 ) (282,339 )

Financial Instruments (Tables)

Financial Instruments (Tables)3 Months Ended
Mar. 29, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt InstrumentsThe carrying costs, which are equal to the outstanding principal amounts, and fair values of the Company's long-term borrowings as of March 29, 2020 , March 31, 2019 and December 29, 2019 are as follows: March 29, 2020 March 31, 2019 December 29, 2019 Carrying Cost Fair Value Carrying Cost Fair Value Carrying Cost Fair Value 3.90% Notes Due 2029 $ 900,000 774,540 — — 900,000 893,430 3.55% Notes Due 2026 675,000 641,588 — — 675,000 680,670 3.00% Notes Due 2024 500,000 480,600 — — 500,000 502,150 6.35% Notes Due 2040 500,000 498,200 500,000 548,200 500,000 581,600 3.50% Notes Due 2027 500,000 465,400 500,000 479,450 500,000 500,550 2.60% Notes Due 2022 300,000 295,320 — — 300,000 300,960 5.10% Notes Due 2044 300,000 251,670 300,000 285,990 300,000 301,980 3.15% Notes Due 2021 300,000 299,880 300,000 301,440 300,000 303,900 6.60% Debentures Due 2028 109,895 122,643 109,895 129,445 109,895 130,610 Variable % Notes Due December 30, 2022 400,000 400,000 — — — — Variable % Notes Due December 30, 2024 600,000 600,000 — — — — Production Financing Facilities 175,572 175,572 — — — — Total long-term debt $ 5,260,467 5,005,413 1,709,895 1,744,525 4,084,895 4,195,850 Less: Deferred debt expenses 39,736 — 14,433 — 38,438 — Less: Current portion 64,441 — — — — — Long-term debt $ 5,156,290 5,005,413 1,695,462 1,744,525 4,046,457 4,195,850
Production Financing Loans Quarter Ended March 29, 2020 Production financing held by production subsidiaries $ 175,572 Other loans 9,405 Total $ 184,977 Production financing shown in the consolidated balance sheet as: Non-current $ 141,131 Current 34,441 Total $ 175,572
Carrying Amount of Currencies for Production Credit Facilities [Table Text Block]The carrying amounts are denominated in the following currencies: Canadian Dollars U.S. Dollars Total As of March 29, 2020 $ 73,485 111,492 184,977
Schedule of Production and Financing Loan and Other LoansThe following table represents the movements in production financing and other related loans acquired as a result of the eOne Acquisition during the first quarter of 2020: Production Financing Other Loans Total December 30, 2019 $ 209,651 9,102 $ 218,753 Drawdowns 20,511 7,996 28,507 Repayments (50,186 ) (8,916 ) (59,102 ) Foreign exchange differences (4,404 ) 1,223 (3,181 ) Balance at March 29, 2020 $ 175,572 9,405 184,977

eOne Investments in Productio_2

eOne Investments in Productions and Investments in Acquired Content Rights (Tables)3 Months Ended
Mar. 29, 2020
Other Industries [Abstract]
Schedule of Program Production CostsCosts associated with the Company's investments in eOne productions and investments in acquired content rights consisted of the following at March 29, 2020: Quarter Ended March 29, 2020 Film Programming Released, less amortization $ 300,619 Completed and not released 63,100 In production 25,702 Pre-production 20,248 409,669 TV Programming Released, less amortization 101,925 Completed and not released 74,900 In production 64,188 Pre-production 59,863 300,876 Other Programming Released, less amortization 10,112 In production 2,177 12,289 Total program costs $ 722,834
Program Cost AmortizationThe Company recorded $ 123,383 of program cost amortization related to the above programming in the quarter ended March 29, 2020, consisting of the following: Investment in Production Investment in Content Total Program cost amortization $ 83,404 39,979 123,383

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)3 Months Ended
Mar. 29, 2020
Fair Value Disclosures [Abstract]
Fair Value HierarchyAt March 29, 2020 , March 31, 2019 and December 29, 2019 , the Company had the following assets and liabilities measured at fair value in its consolidated balance sheets (excluding assets for which the fair value is measured using net asset value per share): Fair Value Measurements Using: Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) March 29, 2020 Assets: Available-for-sale securities $ 768 768 — — Derivatives 46,781 — 46,781 — Total assets $ 47,549 768 46,781 — Liabilities: Derivatives $ 13,131 — 13,131 — Option agreement 20,836 — — 20,836 Total liabilities $ 33,967 — 13,131 20,836 March 31, 2019 Assets: Available-for-sale securities $ 975 975 — — Derivatives 32,296 — 32,296 — Total assets $ 33,271 975 32,296 — Liabilities: Derivatives $ 45 — 45 — Option agreement 23,144 — — 23,144 Total liabilities $ 23,189 — 45 23,144 December 29, 2019 Assets: Available-for-sale securities $ 1,296 1,296 — — Derivatives 48,973 — 48,973 — Total assets $ 50,269 1,296 48,973 — Liabilities: Derivatives $ 5,733 — 5,733 — Option agreement 22,145 — — 22,145 Total Liabilities $ 27,878 — 5,733 22,145
Reconciliation of Level 3 Fair ValueThe 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): 2020 2019 Balance at beginning of year $ (22,145 ) (23,440 ) Gain from change in fair value 1,309 296 Balance at end of first quarter $ (20,836 ) (23,144 )

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)3 Months Ended
Mar. 29, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Cash Flow Hedging InstrumentsAt March 29, 2020 , March 31, 2019 and December 29, 2019 , the notional amounts and fair values of the Company's foreign currency forward contracts designated as cash flow hedging instruments were as follows: March 29, 2020 March 31, 2019 December 29, 2019 Hedged transaction Notional Amount Fair Value Notional Amount Fair Value Notional Amount Fair Value Inventory purchases $ 343,227 32,186 486,999 21,649 398,800 8,727 Sales 101,120 4,761 263,221 8,358 124,920 4,037 Production financing and other 161,303 6,687 26,422 190 19,499 140 Total $ 605,650 43,634 776,642 30,197 543,219 12,904
Schedule of Foreign Currency Forward Contracts Designated as Cash Flow HedgesThe fair values of the Company's foreign currency forward contracts designated as cash flow hedges are recorded in the consolidated balance sheets at March 29, 2020 , March 31, 2019 and December 29, 2019 as follows: March 29, March 31, December 29, Prepaid expenses and other current assets Unrealized gains $ 40,376 22,737 12,133 Unrealized losses (1,893 ) (2,008 ) (3,955 ) Net unrealized gains $ 38,483 20,729 8,178 Other assets Unrealized gains $ 7,128 9,752 6,652 Unrealized losses — (239 ) — Net unrealized gains $ 7,128 9,513 6,652 Accrued liabilities Unrealized gains $ — — 293 Unrealized losses (1,974 ) (45 ) (2,219 ) Net unrealized losses $ (1,974 ) (45 ) (1,926 ) Other liabilities Unrealized gains $ — — — Unrealized losses (3 ) — — Net unrealized losses $ (3 ) — —
Schedule of Net Gains (Losses) on Cash Flow Hedges ActivitiesNet gains (losses) on cash flow hedging activities have been reclassified from other comprehensive earnings (loss) to net earnings for the quarters ended March 29, 2020 and March 31, 2019 as follows: Quarter Ended March 29, March 31, Statements of Operations Classification Cost of sales $ 3,957 2,614 Net revenues 343 878 Other 81 118 Net realized gains $ 4,381 3,610
Fair Values of Undesignated Derivative Financial InstrumentsAt March 29, 2020 , March 31, 2019 and December 29, 2019 , the fair values of the Company's undesignated derivative financial instruments were recorded in the consolidated balance sheets as follows: March 29, March 31, December 29, Prepaid expenses and other current assets Unrealized gains $ 1,170 2,391 — Unrealized losses — (337 ) — Net unrealized gains $ 1,170 2,054 — Accrued liabilities Unrealized gains $ 1,252 — 13 Unrealized losses (12,406 ) — (3,820 ) Net unrealized losses $ (11,154 ) — (3,807 ) Total unrealized (losses) gains, net $ (9,984 ) 2,054 (3,807 )

Leases (Tables)

Leases (Tables)3 Months Ended
Mar. 29, 2020
Leases [Abstract]
Schedule of Information Related to LeasesInformation related to the Company’s leases for the quarters ended March 29, 2020 and March 31, 2019 are as follows: Quarter Ended March 29, March 31, Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 11,602 $ 9,574 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 64,214 $ 23,680 Weighted Average Remaining Lease Term Operating leases 6.0 years 6.7 years Weighted Average Discount Rate Operating leases 4.2 % 4.5 %
Reconciliation of Future Undiscounted Cash FlowsThe following is a reconciliation of future undiscounted cash flows to the operating liabilities, and the related right of use assets, included in our Consolidated Balance Sheets as of March 29, 2020 : March 29, 2020 (excluding the three months ended March 29, 2020) $ 35,280 2021 45,207 2022 41,609 2023 33,842 2024 22,266 2025 and thereafter 66,743 Total future lease payments 244,947 Less imputed interest 49,151 Present value of future operating lease payments 195,796 Less current portion of operating lease liabilities (1) 43,263 Non-current operating lease liability (2) 152,533 Operating lease right-of-use assets, net (3) $ 168,805 (1) Included in Accrued liabilities on the consolidated balance sheets. (2) Included in Other liabilities on the consolidated balance sheets. (3) Included in Property, plant, and equipment on the consolidated balance sheets.

Segment Reporting (Tables)

Segment Reporting (Tables)3 Months Ended
Mar. 29, 2020
Segment Reporting [Abstract]
Information by Segment and Reconciliation to Reported AmountsInformation by segment and a reconciliation to reported amounts for the quarters ended March 29, 2020 and March 31, 2019 are as follows: Quarter Ended March 29, 2020 March 31, 2019 Net revenues External Affiliate External Affiliate U.S. and Canada $ 428,647 3,328 $ 357,851 1,849 International 250,403 — 282,649 41 Entertainment, Licensing and Digital 84,027 971 91,994 1,974 eOne 342,493 — — — Global Operations (a) — 194,856 16 229,425 Corporate and Eliminations (b) — (199,155 ) — (233,289 ) $ 1,105,570 — $ 732,510 —
Operating Profit (Loss) by Segment Quarter Ended Operating profit (loss) March 29, March 31, U.S. and Canada $ 71,780 $ 13,532 International (26,691 ) (30,411 ) Entertainment, Licensing and Digital 5,174 30,020 eOne (33,081 ) — Global Operations (a) 4,649 1,254 Corporate and Eliminations (b) (45,114 ) 21,732 $ (23,283 ) $ 36,127
Total Assets by SegmentTotal assets March 29, March 31, December 29, U.S. and Canada $ 3,335,131 2,600,873 3,244,950 International 2,016,267 2,019,800 2,482,170 Entertainment, Licensing and Digital 869,645 804,288 695,898 eOne 5,850,529 — — Global Operations (a) 3,658,540 706,701 3,334,190 Corporate and Eliminations (b) (5,305,753 ) (1,196,889 ) (901,580 ) $ 10,424,359 4,934,773 8,855,628 (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 between actual and budgeted amounts are reflected in Corporate and Eliminations because allocations are translated from the U.S. Dollar to local currency at budgeted rates when recorded. Corporate and Eliminations also includes the elimination of inter-company balance sheet amounts.
Schedule of Net Revenues by Major Geographic RegionThe following table represents consolidated International segment net revenues by major geographic region for the quarters ended March 29, 2020 and March 31, 2019 : Quarter Ended March 29, March 31, Europe $ 162,249 153,379 Latin America 33,921 62,777 Asia Pacific 54,233 66,493 Net revenues $ 250,403 282,649
Schedules of Net Revenues by Brand PortfolioThe following table presents consolidated net revenues by brand and entertainment portfolio for the quarters ended March 29, 2020 and March 31, 2019 : Quarter Ended March 29, March 31, Franchise Brands $ 396,497 $ 393,574 Partner Brands 182,331 171,989 Hasbro Gaming (1) 140,084 107,565 Emerging Brands (2) 94,145 59,382 TV/Film/Entertainment (3) 292,513 — Total $ 1,105,570 732,510 (1) Hasbro's total gaming category, which includes all gaming net revenues, both those reported in Hasbro Gaming and those reported elsewhere, most notably MAGIC: THE GATHERING and MONOPOLY, totaled $340,480 and $243,390 , respectively, for the quarters ended March 29, 2020 and March 31, 2019 . (2) First quarter 2020 balance in Emerging Brands portfolio includes eOne brands PEPPA PIG, PJ MASKS and RICKY ZOOM. (3)

Restructuring Actions (Tables)

Restructuring Actions (Tables)3 Months Ended
Mar. 29, 2020
Restructuring Charges [Abstract]
Schedule of Restructuring and Related CostsThe detail of activity related to the programs for the first quarter of 2020 is as follows: Remaining amounts to be paid as of December 29, 2019 $ 31,113 eOne restructuring charges 13,186 Payments made in the first quarter of 2020 (9,876 ) Remaining amounts as of March 29, 2020 $ 34,423

Basis of Presentation (Details)

Basis of Presentation (Details) £ / shares in Units, $ / shares in Units, £ in Thousands, shares in ThousandsDec. 30, 2019USD ($)sharesDec. 30, 2019GBP (£)£ / sharessharesMar. 29, 2020USD ($)Dec. 30, 2019USD ($)$ / sharesNov. 30, 2019USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Production financing facility, term of maturity2 years
Production financing facility, restricted cash $ 86,177,000
Investment in productions and acquired content rights, term of release10 years
Shares issued as consideration (in shares) | shares10,592 10,592
Senior Notes | Senior Unsecured Notes
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Aggregate principal amount $ 2,375,000,000 $ 2,375,000,000
eOne
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Payments to acquire businesses $ 4,635,041,000 £ 2,900,000
Total consideration for shares outstanding3,658,345,000
Cash consideration for extinguishment of debt $ 831,130,000
Cash dividends declared per common share (in dollars per share) | (per share) £ 5.60 $ 7.35
Unsecured Committed | eOne
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash dividends declared per common share (in dollars per share) | $ / shares $ 95
Line of credit, borrowings outstanding $ 1,000,000,000
Astley Baker Davies Limited
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Proportion held70.00%
Whizz Kid Entertainment Limited
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Proportion held70.00%
MR Productions Holdings, LLC
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Proportion held77.00%
Renegade Entertainment, LLC
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Proportion held65.00%
Round Room Live, LLC
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Proportion held60.00%

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) $ in Thousands3 Months Ended
Mar. 29, 2020USD ($)brand_categoryDec. 30, 2019USD ($)Mar. 31, 2019USD ($)
Disaggregation of Revenue [Line Items]
Contract assets $ 358,616 $ 27,291
Prepaid expenses and other current assets271,120 23,857
Contract assets - long term $ 87,496 $ 3,434
Number of brand categories | brand_category5
eOne
Disaggregation of Revenue [Line Items]
Contract assets $ 291,427
Prepaid expenses and other current assets234,532
Contract assets - long term56,895
Aggregate deferred revenues recorded as liabilities $ 189,654
Revenue recognized $ 80,652
Contract With Customer, Asset, Percentage87.00%
Contract With Customer, Liability, Percentage79.00%

Revenue Recognition - Contract

Revenue Recognition - Contract Assets and Liabilities (Details) - USD ($) $ in ThousandsMar. 29, 2020Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Assets $ 271,120 $ 23,857
Contract assets - long term87,496 3,434
Total358,616 27,291
Contract liabilities $ 184,064 $ 47,678

Business Combination - Narrativ

Business Combination - Narrative (Details) £ / shares in Units, $ / shares in Units, £ in Thousands, shares in ThousandsDec. 30, 2019USD ($)sharesDec. 30, 2019GBP (£)£ / sharessharesMar. 29, 2020USD ($)Mar. 31, 2019USD ($)Dec. 30, 2018USD ($)Dec. 30, 2019USD ($)$ / sharesDec. 29, 2019USD ($)Nov. 30, 2019USD ($)
Business Acquisition [Line Items]
Shares issued as consideration (in shares) | shares10,592 10,592
Goodwill $ 3,572,650,000 $ 485,528,000 $ 494,584,000
Acquisition and related costs149,782,000 0
Asset impairments40,878,000 $ 0
Amortization of intangibles $ 12,480,000
Interest expense19,105,000
Income tax effect, amount $ 6,570,000
eOne
Business Acquisition [Line Items]
Payments to acquire businesses $ 4,635,041,000 £ 2,900,000
Cash consideration per share (in dollars and GBP per share) | (per share) £ 5.60 $ 7.35
Conversion rate (USD/GBP) | $ / shares $ 1.31
Cash consideration for shares outstanding3,658,345,000
Indebtedness redeemed as consideration for acquisition831,130,000
Goodwill $ 3,079,181,000
Acquisition and related costs149,782,000
Business acquisition, pro forma, acquisition related costs77,729,000
Integration related costs95,718,000
Integration related costs, acceleration of stock-based compensation47,339,000
Integration related costs, advisor fees38,168,000
Less: Employee awards to be recorded as future stock compensation expense47,399,000
Restructuring and related cost54,064,000
Severance expense13,186,000
Asset impairments $ 40,878,000
Unsecured Committed | eOne
Business Acquisition [Line Items]
Cash consideration per share (in dollars and GBP per share) | $ / shares $ 95
Term loans proceeds which financed acquisition $ 1,000,000,000
Senior Notes | Senior Unsecured Notes
Business Acquisition [Line Items]
Proceeds from Issuance of Debt $ 975,185
Aggregate principal amount $ 2,375,000,000 $ 2,375,000,000
Minimum
Business Acquisition [Line Items]
Income tax rate, percent21.00%
Minimum | Trademarks and Trade Names | eOne
Business Acquisition [Line Items]
Intangible asset useful life7 years
Maximum
Business Acquisition [Line Items]
Income tax rate, percent22.50%
Maximum | Trademarks and Trade Names | eOne
Business Acquisition [Line Items]
Intangible asset useful life15 years
Maximum | Films and Television Programs | eOne
Business Acquisition [Line Items]
Intangible asset useful life10 years

Business Combination - Total Co

Business Combination - Total Consideration Transferred (Details) - Dec. 30, 2019 - eOne £ / shares in Units, $ / shares in Units, £ in Thousands, shares in Thousands, $ in ThousandsUSD ($)sharesGBP (£)£ / sharesshares$ / shares
Business Acquisition [Line Items]
eOne common shares outstanding (in shares) | shares498,040 498,040
Cash consideration per share (in dollars per share) | (per share) £ 5.60 $ 7.35
Total consideration for shares outstanding $ 3,658,345
Cash consideration for employee share based payment awards outstanding145,566
Cash consideration for extinguishment of debt831,130
Total cash consideration4,635,041 £ 2,900,000
Less: Employee awards to be recorded as future stock compensation expense47,399
Total consideration transferred $ 4,587,642

Business Combination - Prelimin

Business Combination - Preliminary Allocation of Purchase Price (Details) - USD ($) $ in ThousandsMar. 29, 2020Dec. 30, 2019Dec. 29, 2019Mar. 31, 2019
Business Acquisition [Line Items]
Goodwill $ 3,572,650 $ 494,584 $ 485,528
eOne
Business Acquisition [Line Items]
Cash, cash equivalents and restricted cash $ 183,713
Accounts receivable, net259,061
Inventories7,029
Other current assets286,270
Property, plant and equipment (including right of use assets)90,339
Intangible assets1,055,249
Content assets - IIC and IIP751,524
Other assets183,209
Short-term borrowings(60,533)
Accounts payable, and accrued liabilities(772,097)
Long-term debt (including current portion)(149,118)
Other liabilities(262,644)
Noncontrolling interests(63,541)
Estimated fair value of net assets acquired1,508,461
Goodwill3,079,181
Total purchase price $ 4,587,642

Business Combination - Unaudite

Business Combination - Unaudited Supplemental Pro Forma Results of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands3 Months Ended
Mar. 29, 2020Mar. 31, 2019
Business Acquisition [Line Items]
Net revenues $ 1,105,570 $ 732,510
Pro Forma Results
Revenues1,198,722
Net earnings attributable to Hasbro, Inc.79,134
Net earnings attributable to Hasbro, Inc. $ 76,405
Earnings per share attributable to Hasbro, Inc.: Diluted (in dollars per share) $ 0.56
Earnings per share attributable to Hasbro, Inc.: Basic (in dollars per share) $ 0.56
Operating Segments | eOne
Business Acquisition [Line Items]
Loss before income taxes $ (33,620)

Business Combination - Changes

Business Combination - Changes in Carrying Amount of Goodwill (Details) $ in Thousands3 Months Ended
Mar. 29, 2020USD ($)
Goodwill [Roll Forward]
Beginning balance $ 494,584
Ending balance3,572,650
Operating Segments
Goodwill [Roll Forward]
Beginning balance494,584
Acquired during the period3,079,181
Foreign exchange translation(1,115)
Ending balance3,572,650
Operating Segments | U.S. and Canada
Goodwill [Roll Forward]
Beginning balance291,577
Acquired during the period0
Foreign exchange translation0
Ending balance291,577
Operating Segments | International
Goodwill [Roll Forward]
Beginning balance170,218
Acquired during the period0
Foreign exchange translation(321)
Ending balance169,897
Operating Segments | Entertainment, Licensing and Digital
Goodwill [Roll Forward]
Beginning balance32,789
Acquired during the period0
Foreign exchange translation(794)
Ending balance31,995
Operating Segments | eOne
Goodwill [Roll Forward]
Beginning balance0
Acquired during the period3,079,181
Foreign exchange translation0
Ending balance $ 3,079,181

Earnings (Loss) Per Share - Sch

Earnings (Loss) Per Share - Schedule of Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands3 Months Ended
Mar. 29, 2020Mar. 31, 2019
Earnings Per Share [Abstract]
Net earnings (loss) attributable to Hasbro, Inc. $ (69,637) $ 26,727
Average shares outstanding (in shares)137,147 126,287
Basic
Equivalent Shares (in shares)137,147 126,287
Net earnings per common share (in dollars per share) $ (0.51) $ 0.21
Effect of dilutive securities:
Options and other share-based awards (in shares)0 529
Equivalent Shares (in shares)137,147 126,816
Net earnings per common share (in dollars per share) $ (0.51) $ 0.21

Earnings (Loss) Per Share - Nar

Earnings (Loss) Per Share - Narrative (Details) - shares shares in Thousands3 Months Ended
Mar. 29, 2020Mar. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Options and other share-based awards (in shares)0 529
Antidilutive Securities Excluded from Computation of Earnings Per Share, Shares Would Have Been Included If No Net Loss (in shares)1,151
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount, Treasury Stock Method (in shares)372
Employee stock option and restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share4,055 1,693

Other Comprehensive Earnings _3

Other Comprehensive Earnings (Loss) - Schedule of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 29, 2020Mar. 31, 2019
Other comprehensive earnings (loss), tax effect:
Tax benefit (expense) on unrealized holding gains (losses) $ 118 $ (77)
Tax expense on cash flow hedging activities(7,203)(3)
Reclassifications to earnings, tax effect:
Tax expense on cash flow hedging activities267 346
Tax benefit on unrecognized pension and postretirement amounts reclassified to the consolidated statements of operations(80)(331)
Total tax effect on other comprehensive earnings (loss) $ (6,898) $ (65)

Other Comprehensive Earnings _4

Other Comprehensive Earnings (Loss) - Schedule of Accumulated Other Comprehensive Earnings (Loss) (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 29, 2020Mar. 31, 2019
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period $ (184,220) $ (294,514)
Current period other comprehensive earnings (loss)(110,552)12,175
Balance at the end of the period(294,772)(282,339)
Pension and Postretirement Amounts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period(36,129)(143,134)
Current period other comprehensive earnings (loss)274 1,139
Balance at the end of the period(35,855)(141,995)
Gains (Losses) on Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period(5,232)1,549
Current period other comprehensive earnings (loss)21,351 3,778
Balance at the end of the period16,119 5,327
Unrealized Holding Gains (Losses) on Available- for-Sale Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period(230)(744)
Current period other comprehensive earnings (loss)(410)265
Balance at the end of the period(640)(479)
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period(142,629)(152,185)
Current period other comprehensive earnings (loss)(131,767)6,993
Balance at the end of the period $ (274,396) $ (145,192)

Other Comprehensive Earnings _5

Other Comprehensive Earnings (Loss) - Narrative (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 29, 2020Mar. 31, 2019Dec. 29, 2019Dec. 30, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive loss $ (294,772) $ (282,339) $ (184,220) $ (294,514)
Previously deferred losses54,725 22,314
Expected net gains24,085
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent | Foreign Exchange Forward
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive loss33,687
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent | Interest Rate Contract
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive loss17,568
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent | Reclassification out of Accumulated Other Comprehensive Income | Interest Rate Contract
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Previously deferred losses $ 450 $ 450

Financial Instruments - Long-te

Financial Instruments - Long-term Debt Instruments (Details) - USD ($) $ in ThousandsMar. 29, 2020Dec. 29, 2019Mar. 31, 2019
Debt Instrument [Line Items]
Carrying Cost $ 5,260,467 $ 4,084,895 $ 1,709,895
Less: Deferred debt expenses39,736 38,438 14,433
Less: Current portion64,441 0 0
Long-term debt, carrying cost5,156,290 4,046,457 1,695,462
Fair Value5,005,413 4,195,850 1,744,525
Long-term debt, fair value5,005,413 4,195,850 1,744,525
3.90% Notes Due 2029
Debt Instrument [Line Items]
Carrying Cost900,000 900,000 0
Fair Value $ 774,540 893,430 0
Interest Rate3.90%
3.55% Notes Due 2026
Debt Instrument [Line Items]
Carrying Cost $ 675,000 675,000 0
Fair Value $ 641,588 680,670 0
Interest Rate3.55%
3.00% Notes Due 2024
Debt Instrument [Line Items]
Carrying Cost $ 500,000 500,000 0
Fair Value $ 480,600 502,150 0
Interest Rate3.00%
6.35% Notes Due 2040
Debt Instrument [Line Items]
Carrying Cost $ 500,000 500,000 500,000
Fair Value $ 498,200 581,600 548,200
Interest Rate6.35%
3.50% Notes Due 2027
Debt Instrument [Line Items]
Carrying Cost $ 500,000 500,000 500,000
Fair Value $ 465,400 500,550 479,450
Interest Rate3.50%
2.60% Notes Due 2022
Debt Instrument [Line Items]
Carrying Cost $ 300,000 300,000 0
Fair Value $ 295,320 300,960 0
Interest Rate2.60%
5.10% Notes Due 2044
Debt Instrument [Line Items]
Carrying Cost $ 300,000 300,000 300,000
Fair Value $ 251,670 301,980 285,990
Interest Rate5.10%
3.15% Notes Due 2021
Debt Instrument [Line Items]
Carrying Cost $ 300,000 300,000 300,000
Fair Value $ 299,880 303,900 301,440
Interest Rate3.15%
6.60% Debentures Due 2028
Debt Instrument [Line Items]
Carrying Cost $ 109,895 109,895 109,895
Fair Value $ 122,643 130,610 129,445
Interest Rate6.60%
Variable % Notes Due December 30, 2022
Debt Instrument [Line Items]
Carrying Cost $ 400,000 0 0
Fair Value400,000 0 0
Variable % Notes Due December 30, 2024
Debt Instrument [Line Items]
Carrying Cost600,000 0 0
Fair Value600,000 0 0
Production Financing Facilities
Debt Instrument [Line Items]
Carrying Cost175,572 0 0
Fair Value $ 175,572 $ 0 $ 0

Financial Instruments - Narrati

Financial Instruments - Narrative (Details) - USD ($)1 Months Ended3 Months Ended
Nov. 30, 2019Sep. 30, 2019Mar. 29, 2020Dec. 30, 2019
Debt Instrument [Line Items]
Weighted average interest rate4.10%
Minimum
Debt Instrument [Line Items]
Term of loan facility3 years
Senior Unsecured Notes | Minimum
Debt Instrument [Line Items]
Upward adjustment if credit rating is reduced (as a percent)0.25%
Senior Unsecured Notes | Maximum
Debt Instrument [Line Items]
Term of loan facility10 years
Upward adjustment if credit rating is reduced (as a percent)2.00%
Senior Notes | Senior Unsecured Notes
Debt Instrument [Line Items]
Aggregate principal amount $ 2,375,000,000 $ 2,375,000,000
Underwriting discount and fees20,043,000
Net proceeds after deduction of underwriting discount and fees2,354,957,000
Senior Notes | 2.60% Notes Due 2022
Debt Instrument [Line Items]
Aggregate principal amount $ 300,000,000
Interest rate2.60%
Effective interest rate15.00%
Senior Notes | 3.00% Notes Due 2024
Debt Instrument [Line Items]
Aggregate principal amount $ 500,000,000
Interest rate3.00%
Effective interest rate25.00%
Senior Notes | 3.55% Notes Due 2026
Debt Instrument [Line Items]
Aggregate principal amount $ 675,000,000
Interest rate3.55%
Effective interest rate30.00%
Senior Notes | 3.90% Notes Due 2029
Debt Instrument [Line Items]
Aggregate principal amount $ 900,000,000
Interest rate3.90%
Effective interest rate35.00%
3.50% Notes Due 2027
Debt Instrument [Line Items]
Interest rate3.50%
Redemption price (as a percent)100.00%
3.15% Notes Due 2021
Debt Instrument [Line Items]
Aggregate principal amount $ 300,000
Interest rate3.15%
Unsecured Debt | Term Loan Agreement
Debt Instrument [Line Items]
Aggregate principal amount $ 1,000,000,000
Consolidated interest coverage ratio3
Consolidated total leverage ratio3.50
Unsecured Debt | Term Loan Agreement | Minimum
Debt Instrument [Line Items]
Consolidated total leverage ratio5.40
Unsecured Debt | Term Loan Agreement | Maximum
Debt Instrument [Line Items]
Consolidated total leverage ratio5.65
Unsecured Debt | Three-Year Term Loan Facility
Debt Instrument [Line Items]
Aggregate principal amount $ 400,000,000
Term of loan facility3 years
Unsecured Debt | Five-Year Term Loan Facility
Debt Instrument [Line Items]
Aggregate principal amount $ 600,000,000
Term of loan facility5 years
Eurocurrency Rate | Unsecured Debt | Three-Year Term Loan Facility | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)87.50%
Eurocurrency Rate | Unsecured Debt | Three-Year Term Loan Facility | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)175.00%
Eurocurrency Rate | Unsecured Debt | Five-Year Term Loan Facility | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)100.00%
Eurocurrency Rate | Unsecured Debt | Five-Year Term Loan Facility | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)187.50%
Base Rate | Unsecured Debt | Three-Year Term Loan Facility | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)0.00%
Base Rate | Unsecured Debt | Three-Year Term Loan Facility | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)75.00%
Base Rate | Unsecured Debt | Five-Year Term Loan Facility | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)0.00%
Base Rate | Unsecured Debt | Five-Year Term Loan Facility | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)87.50%
Debt Instrument, Redemption, Period One [Member] | Unsecured Debt | Five-Year Term Loan Facility
Debt Instrument [Line Items]
Interest rate5.00%
Term of loan facility2 years
Debt Instrument, Redemption, Period Two [Member] | Unsecured Debt | Five-Year Term Loan Facility
Debt Instrument [Line Items]
Interest rate10.00%

Financial Instruments - Product

Financial Instruments - Production Financing Loans (Details) - USD ($) $ in ThousandsMar. 29, 2020Dec. 29, 2019
Debt Disclosure [Abstract]
Other loans $ 9,405
Total184,977 $ 218,753
Non-current141,131
Current34,441
Total $ 175,572

Financial Instruments - Schedul

Financial Instruments - Schedule of Line of Credit Facilities (Details) $ in Thousands, $ in ThousandsMar. 29, 2020USD ($)Mar. 29, 2020CAD ($)Dec. 29, 2019USD ($)
Line of Credit Facility [Line Items]
Production Financing Loan and Other Loans $ 184,977 $ 218,753
CANADA
Line of Credit Facility [Line Items]
Production Financing Loan and Other Loans $ 73,485
U.S.
Line of Credit Facility [Line Items]
Production Financing Loan and Other Loans $ 111,492

Financial Instruments - Sched_2

Financial Instruments - Schedule of Production Financing Loan and Other Loans (Details) $ in Thousands3 Months Ended
Mar. 29, 2020USD ($)
Production Financing
Production financing loan, beginning balance $ 209,651
Drawdowns20,511
Repayments(50,186)
Foreign exchange differences(4,404)
Production financing loan, ending balance175,572
Other Loans
Other loans, beginning balance9,102
Drawdowns7,996
Repayments(8,916)
Foreign exchange differences1,223
Other loans, ending balance9,405
Production financing loan and other loans, beginning balance218,753
Drawdowns28,507
Repayments(59,102)
Foreign exchange differences(3,181)
Production financing loan and other loans, ending balance $ 184,977

eOne Investments in Productio_3

eOne Investments in Productions and Investments in Acquired Content Rights - Program Production Costs (Details) $ in ThousandsMar. 29, 2020USD ($)
Film Programming
Released, less amortization $ 300,619
Completed and not released63,100
In production25,702
Pre-production20,248
Film programing costs409,669
TV Programming
Released, less amortization101,925
Completed and not released74,900
In production64,188
Pre-production59,863
Television programming costs300,876
Other Programming [Abstract]
Released, less amortization10,112
In production2,177
Other programming costs12,289
Total program costs $ 722,834

eOne Investments in Productio_4

eOne Investments in Productions and Investments in Acquired Content Rights - Program Costs Amortization (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 29, 2020Mar. 31, 2019
Product Information [Line Items]
Program cost amortization $ 132,146 $ 6,575
eOne
Product Information [Line Items]
Program cost amortization123,383
eOne | Production Investment
Product Information [Line Items]
Program cost amortization83,404
eOne | Content Investment
Product Information [Line Items]
Program cost amortization $ 39,979

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 29, 2020Mar. 31, 2019
Income Tax Contingency [Line Items]
Effective income tax rate5.70%9.70%
Discrete Income Tax Expense (Benefit) $ 20,081
Income tax expense (benefit)(4,072) $ 2,868
Discrete Income Tax Expense (Benefit), Decrease In Liability $ 2,607
eOne
Income Tax Contingency [Line Items]
Discrete Income Tax Expense (Benefit) $ 22,332
Maximum | eOne
Income Tax Contingency [Line Items]
Effective income tax rate20.60%
Minimum | eOne
Income Tax Contingency [Line Items]
Effective income tax rate18.50%

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Narrative (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 29, 2020Mar. 31, 2019Dec. 29, 2019
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Redeemable period45 days
Minimum
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Redeemable period30 days
Maximum
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Redeemable period90 days
Fair Value, Recurring
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of investments $ 24,804 $ 24,188 $ 25,518
Net gains to other (income) expense, net $ (431) $ 550

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Fair Value Hierarchy (Details) - USD ($) $ in ThousandsMar. 29, 2020Dec. 29, 2019Mar. 31, 2019
Assets:
Available-for-sale securities $ 768 $ 1,296 $ 975
Derivatives46,781 48,973 32,296
Total assets47,549 50,269 33,271
Liabilities:
Derivatives13,131 5,733 45
Option agreement20,836 22,145 23,144
Total liabilities33,967 27,878 23,189
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Available-for-sale securities768 1,296 975
Derivatives0 0 0
Total assets768 1,296 975
Liabilities:
Derivatives0 0 0
Option agreement0 0 0
Total liabilities0 0 0
Significant Other Observable Inputs (Level 2)
Assets:
Available-for-sale securities0 0 0
Derivatives46,781 48,973 32,296
Total assets46,781 48,973 32,296
Liabilities:
Derivatives13,131 5,733 45
Option agreement0 0 0
Total liabilities13,131 5,733 45
Significant Unobservable Inputs (Level 3)
Assets:
Available-for-sale securities0 0 0
Derivatives0 0 0
Total assets0 0 0
Liabilities:
Derivatives0 0 0
Option agreement20,836 22,145 23,144
Total liabilities $ 20,836 $ 22,145 $ 23,144

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Reconciliation of Level 3 Fair value (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 29, 2020Mar. 31, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of year $ (22,145) $ (23,440)
Gain from change in fair value1,309 296
Balance at end of third quarter $ (20,836) $ (23,144)

Derivative Financial Instrume_3

Derivative Financial Instruments - Summary of Cash Flow Hedging Instruments (Details) - Cash Flow Hedging - Designated as Hedging Instrument - USD ($) $ in ThousandsMar. 29, 2020Dec. 29, 2019Mar. 31, 2019
Derivative [Line Items]
Notional Amount $ 605,650 $ 543,219 $ 776,642
Fair Value43,634 12,904 30,197
Inventory purchases
Derivative [Line Items]
Notional Amount343,227 398,800 486,999
Fair Value32,186 8,727 21,649
Sales
Derivative [Line Items]
Notional Amount101,120 124,920 263,221
Fair Value4,761 4,037 8,358
Production financing and other
Derivative [Line Items]
Notional Amount161,303 19,499 26,422
Fair Value $ 6,687 $ 140 $ 190

Derivative Financial Instrume_4

Derivative Financial Instruments - Schedule of Foreign Currency Forward Contracts Designated as Cash Flow Hedges (Details) - Cash Flow Hedging - Designated as Hedging Instrument - USD ($) $ in ThousandsMar. 29, 2020Dec. 29, 2019Mar. 31, 2019
Derivatives, Fair Value [Line Items]
Net unrealized gains $ 43,634 $ 12,904 $ 30,197
Foreign Exchange Forward | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Unrealized gains40,376 12,133 22,737
Unrealized losses(1,893)(3,955)(2,008)
Net unrealized gains38,483 8,178 20,729
Foreign Exchange Forward | Other assets
Derivatives, Fair Value [Line Items]
Unrealized gains7,128 6,652 9,752
Unrealized losses0 0 (239)
Net unrealized gains7,128 6,652 9,513
Foreign Exchange Forward | Accrued liabilities
Derivatives, Fair Value [Line Items]
Unrealized gains0 293 0
Unrealized losses(1,974)(2,219)(45)
Net unrealized gains(1,974)(1,926)(45)
Foreign Exchange Forward | Other liabilities
Derivatives, Fair Value [Line Items]
Unrealized gains0 0 0
Unrealized losses(3)0 0
Net unrealized gains $ (3) $ 0 $ 0

Derivative Financial Instrume_5

Derivative Financial Instruments - Schedule of Net Gains (Losses) on Cash Flow Hedges Activities (Details) - Foreign Exchange Forward - USD ($) $ in Thousands3 Months Ended
Mar. 29, 2020Mar. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax $ 4,381 $ 3,610
Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax3,957 2,614
Net revenues
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax343 878
Other
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax $ 81 $ 118

Derivative Financial Instrume_6

Derivative Financial Instruments - Narrative (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 29, 2020Mar. 31, 2019Dec. 29, 2019
Not Designated as Hedging Instrument | Intercompany Loans
Derivative [Line Items]
Notional amount $ 238,187 $ 293,326 $ 307,351
Not Designated as Hedging Instrument | Foreign Exchange Forward
Derivative [Line Items]
Net fair value(9,984)2,054 (3,807)
Prepaid expenses and other current assets | Not Designated as Hedging Instrument | Foreign Exchange Forward
Derivative [Line Items]
Net fair value1,170 2,054 $ 0
Fair Value Hedging | Foreign Exchange Forward
Derivative [Line Items]
Net gains to other (income) expense, net $ 2,499 $ 4,809

Derivative Financial Instrume_7

Derivative Financial Instruments - Fair Values of Undesignated Derivative Financial Instruments (Details) - Foreign Exchange Forward - Not Designated as Hedging Instrument - USD ($) $ in ThousandsMar. 29, 2020Dec. 29, 2019Mar. 31, 2019
Derivatives, Fair Value [Line Items]
Net unrealized gains $ (9,984) $ (3,807) $ 2,054
Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Unrealized gains1,170 0 2,391
Unrealized losses0 0 (337)
Net unrealized gains1,170 0 2,054
Accrued liabilities
Derivatives, Fair Value [Line Items]
Unrealized gains1,252 13 0
Unrealized losses(12,406)(3,820)0
Net unrealized gains $ (11,154) $ (3,807) $ 0

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 29, 2020Mar. 31, 2019
Lessee, Lease, Description [Line Items]
Operating lease expense $ 22,897 $ 16,561
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms18 years

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 29, 2020Mar. 31, 2019
Leases [Abstract]
Operating cash flows from operating leases $ 11,602 $ 9,574
Right-of-use assets obtained in exchange for lease obligations, operating leases $ 64,214 $ 23,680
Weighted average remaining lease term, operating leases6 years6 years 8 months 12 days
Weighted average discount rate, operating lease4.20%4.50%

Leases - Maturities of Operatin

Leases - Maturities of Operating Lease Liabilities (Details) $ in ThousandsMar. 29, 2020USD ($)
Leases [Abstract]
2020 (excluding the three months ended March 29, 2019) $ 35,280
202145,207
202241,609
202333,842
202422,266
2025 and thereafter66,743
Total future lease payments244,947
Less imputed interest49,151
Present value of future operating lease payments195,796
Less current portion of operating lease liabilities43,263
Non-current operating lease liability152,533
Operating lease right-of-use assets, net $ 168,805

Segment Reporting - Net Revenue

Segment Reporting - Net Revenues by Segment (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 29, 2020Mar. 31, 2019
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues, external $ 1,105,570 $ 732,510
Net revenues, affiliate0 0
Corporate and Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues, external0 0
Net revenues, affiliate(199,155)(233,289)
U.S. and Canada | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues, external428,647 357,851
Net revenues, affiliate3,328 1,849
International | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues, external250,403 282,649
Net revenues, affiliate0 41
Entertainment, Licensing and Digital | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues, external84,027 91,994
Net revenues, affiliate971 1,974
eOne | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues, external342,493 0
Net revenues, affiliate0 0
Global Operations | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues, external0 16
Net revenues, affiliate $ 194,856 $ 229,425

Segment Reporting - Operating P

Segment Reporting - Operating Profit (Loss) by Segments (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 29, 2020Mar. 31, 2019
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss) $ (23,283) $ 36,127
Corporate and Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss)(45,114)21,732
U.S. and Canada | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss)71,780 13,532
International | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss)(26,691)(30,411)
Entertainment, Licensing and Digital | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss)5,174 30,020
eOne | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss)(33,081)0
Global Operations | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss) $ 4,649 $ 1,254

Segment Reporting - Total Asset

Segment Reporting - Total Assets by Segments (Details) - USD ($) $ in ThousandsMar. 29, 2020Dec. 29, 2019Mar. 31, 2019
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets $ 10,424,359 $ 8,855,628 $ 4,934,773
Corporate and Eliminations
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets(5,305,753)(901,580)(1,196,889)
U.S. and Canada | Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets3,335,131 3,244,950 2,600,873
International | Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets2,016,267 2,482,170 2,019,800
Entertainment, Licensing and Digital | Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets869,645 695,898 804,288
eOne | Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets5,850,529 0 0
Global Operations | Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets $ 3,658,540 $ 3,334,190 $ 706,701

Segment Reporting - Schedule of

Segment Reporting - Schedule of International Segment Net Revenues by Major Geographic Region (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 29, 2020Mar. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues $ 1,105,570 $ 732,510
Operating Segments | U.S. and Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues428,647 357,851
Operating Segments | Entertainment, Licensing and Digital
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues84,027 91,994
Operating Segments | International
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues250,403 282,649
Operating Segments | International | Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues162,249 153,379
Operating Segments | International | Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues33,921 62,777
Operating Segments | International | Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues $ 54,233 $ 66,493

Segment Reporting - Net Reven_2

Segment Reporting - Net Revenues by Product Category (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 29, 2020Mar. 31, 2019
Revenue from External Customer [Line Items]
Net revenues $ 1,105,570 $ 732,510
Franchise Brands
Revenue from External Customer [Line Items]
Net revenues396,497 393,574
Partner Brands
Revenue from External Customer [Line Items]
Net revenues182,331 171,989
Hasbro Gaming (1)
Revenue from External Customer [Line Items]
Net revenues140,084 107,565
Emerging Brands (2)
Revenue from External Customer [Line Items]
Net revenues94,145 59,382
TV/Film/Entertainment (3)
Revenue from External Customer [Line Items]
Net revenues $ 292,513 $ 0

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 29, 2020Mar. 31, 2019
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues $ 1,105,570 $ 732,510
Gaming including Magic the Gathering and Monopoly
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues $ 340,480 $ 243,390

Restructuring Actions - Schedul

Restructuring Actions - Schedule of Restructuring and Related Costs (Details) $ in Thousands3 Months Ended
Mar. 29, 2020USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance $ 31,113
eOne restructuring charges13,186
Payments for restructuring(9,876)
Ending balance $ 34,423