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Commitments and Contingencies | 12 Months Ended
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Dec. 27, 2015
Commitments and Contingencies [Abstract] |
Commitments and Contingencies | (18) Commitments and Contingencies Hasbro had unused open letters of credit and related instruments of approximately $24,444 and $167,117 at December 27, 2015 and December 28, 2014, respectively. Included in the amount for 2014, was $146,410 of bonds related to tax assessments in Mexico which were settled in December 2014. See note 10 for additional discussion. The Company enters into license agreements with strategic partners, inventors, designers and others for the use of intellectual properties in its products. Certain of these agreements contain provisions for the payment of guaranteed or minimum royalty amounts. Under terms of existing agreements as of December 27, 2015, Hasbro may, provided the other party meets their contractual commitment, be required to pay amounts as follows: 2016: $43,585; 2017: $64,633; 2018: $62,337; 2019: $56,209; 2020: $16,709; and thereafter: $13,015. At December 27, 2015, the Company had $124,360 of prepaid royalties, $47,519 of which are included in prepaid expenses and other current assets and $76,841 of which are included in other assets. In addition to the above commitments, certain of the above contracts impose minimum marketing commitments on the Company. The Company may be subject to additional royalty guarantees totaling $170,000 that are not included in the amounts above that may be payable during the next five years contingent upon the quantity and types of theatrical movie releases by the licensor. In connection with the Company's agreement to form a joint venture with Discovery, the Company is obligated to make future payments to Discovery under a tax sharing agreement. The Company estimates these payments may total approximately $84,800 and may range from approximately $6,400 to $8,000 per year during the period 2016 to 2020, and approximately $49,100 in aggregate for all years occurring thereafter. These payments are contingent upon the Company having sufficient taxable income to realize the expected tax deductions of certain amounts related to the joint venture. In connection with the Company's purchase of a majority stake in Backflip, the Company may be required to purchase the remaining 30% in the future contingent on the achievement by Backflip of certain predetermined financial performance metrics. The Company does not know the ultimate timing that these predetermined financial performance metrics may be met and, thereby, cannot currently estimate the purchase price of the remaining 30%. See note 1 for additional discussion. At December 27, 2015, the Company estimates payments related to inventory and tooling purchase commitments may total approximately $920,500, including contractual commitments under the manufacturing agreement with Cartamundi as follows: 2016: $119,472; 2017: $113,376; 2018: $107,279; 2019: $101,183; and 2020: $80,144. For additional information about these commitments, see note 17. Hasbro is party to certain legal proceedings, as well as certain asserted and unasserted claims. Amounts accrued, as well as the total amount of reasonably possible losses with respect to such matters, individually and in the aggregate, are not deemed to be material to the consolidated financial statements.

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