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Financing Arrangements | 12 Months Ended
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Dec. 30, 2018
Financing Arrangements [Abstract] |
Financing Arrangements | (8) Financing Arrangements At December 30, 2018, Hasbro had available an unsecured committed line and unsecured uncommitted lines of credit from various banks approximating $1,100,000 and $148,000, respectively. Substantially a ll of the short-term borrowings outstanding at the end o f 201 8 and 201 7, represent borrowings made under, or supported by, these lines of credit. Borrowings under the lines of credit were made by certain international affiliates of the Company on terms and at interest rates generally extended to companies of co mparable creditworthiness in those markets. The weighted average interest rates of the outstanding borrowings under the uncommitted lines of credit as of December 3 0, 201 8 and December 31, 201 7 were 3.92% and 4.32%, respectively. The Company had no borrowi ngs outstanding under its committed line of credit at December 3 0, 201 8. During 2018, Hasbro's working capital needs were fulfilled by cash available and generated from operations. During the fourth quarter of 2018, the Company entered into an amended and restated revolving credit agreement with the lenders party thereto (the “Amended Agreement”) which provides the Company with a $1,100,000 committed borrowing facility. The Amended Agreement contains certain financial covenants setting forth leverage and coverage requirements, and certain other limitations typical of an investment grade facility, including with respect to liens, mergers and incurrence of indebtedness. The Amended Agreement also provides for a potential additional incremental commitment increase of up to $500,000. The Amended Agreement extends the term of our prior facility from March 30, 2020 to November 26, 2023. The Amended Agreement contains certain financial covenants setting forth leverage and coverage requirements, and certain other limitations typical of an investment grade facility, including with respect to liens, mergers and incurrence of indebtedness. The Company was in compliance with all covenants as of and for the fiscal year ended December 30, 2018. The Company pays a commitment fee (0.1 0% as of December 30, 2018) based on the unused portion of the facility and interest equal to a Ba se Rate or Eurocurrency Rate plus a spread on borrowings under the facility. The Base Rate is determined based on either the Federal Funds Rate plus a spread, Prime Rate or Eurocurrency Rate plus a spread. The commitment fee and the amount of the spread to the Base Rate or Eurocurrency Rate both vary based on the Company's long-term debt ratings and the Company's leverage. At December 30, 2018, the interest rate under the facility was equal to Eurocurrency Rate plus 1.125%. The Company has an agreement wit h a group of banks providing a commercial paper program (the “Program”). Under the Program, at the Company’s request the banks may either purchase from the Company, or arrange for the sale by the Company of, unsecured commercial paper notes. Borrowings und er the Program are supported by the aforementioned unsecured committed line of credit and the Company may issue notes from time to time up to an aggregate principal amount outstanding at any given time of $1,0 00,000. The maturities of the notes may vary bu t may not exceed 397 days. Subject to market conditions, the notes will be sold under customary terms in the commercial paper market and will be issued at a discount to par, or alternatively, will be sold at par and will bear varying interest rates based o n a fixed or floating rate basis. The interest rates will vary based on market conditions and the ratings assigned to the notes by the credit rating agencies at the time of issuance. At December 3 0, 2 0 1 8, the Company did not have any notes outstanding und er the Program. At December 31, 201 7, the Company had notes outstanding under the Program of $137,500 with a weighted average interest rate of 1.85%.

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- Definition The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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