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Segment Reporting | 9 Months Ended
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Sep. 29, 2019
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting Hasbro is a global play and entertainment company with a broad portfolio of brands and entertainment properties spanning toys, games, licensed products ranging from traditional to high-tech and digital, and film and television entertainment. The Company's segments are (i) U.S. and Canada, (ii) International, (iii) Entertainment, Licensing and Digital and (iv) Global Operations. The U.S. and Canada segment includes the marketing and selling of action figures, arts and crafts and creative play products, electronic toys and related electronic interactive products, fashion and other dolls, infant products, play sets, preschool toys, plush products, sports action blasters and accessories, vehicles and toy-related specialty products, as well as 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 Global Operations segment is responsible for sourcing finished products for the Company's U.S. and Canada and International segments. During the first quarter of 2019, the Company realigned its financial reporting segments to include all digital gaming businesses within the re-named Entertainment, Licensing and Digital reporting segment. As a result of the realignment, U.S. and Canada and the former Entertainment and Licensing segment results for the quarter and nine months ended September 30, 2018 have been restated to reflect the change. 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 accounting policies of the segments are the same as those referenced in Note 1. Results shown for the quarter and nine month periods ended September 29, 2019 are not necessarily representative of those which may be expected for the full year 2019, nor were those of the comparable 2018 periods representative of those actually experienced for the full year 2018. 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 quarter and nine month periods ended September 29, 2019 and September 30, 2018 are as follows:
| Quarter Ended
| September 29, 2019 |  | September 30, 2018
Net revenues | External |  | Affiliate |  | External |  | Affiliate
U.S. and Canada | $ | 898,269 |  |  | 2,535 |  |  | 912,179 |  |  | 2,364 |
International | 561,137 |  |  | — |  |  | 560,704 |  |  | 2 |
Entertainment, Licensing and Digital | 115,766 |  |  | 3,849 |  |  | 96,803 |  |  | 4,712 |
Global Operations (a) | 1 |  |  | 538,817 |  |  | — |  |  | 557,049 |
Corporate and Eliminations (b) | — |  |  | (545,201 | ) |  | — |  |  | (564,127 | )
| $ | 1,575,173 |  |  | — |  |  | 1,569,686 |  |  | — |
| Nine Months Ended
| September 29, 2019 |  | September 30, 2018
Net revenues | External |  | Affiliate |  | External |  | Affiliate
U.S. and Canada | $ | 1,766,649 |  |  | 7,379 |  |  | 1,714,536 |  |  | 7,093 |
International | 1,221,224 |  |  | 186 |  |  | 1,229,093 |  |  | 290 |
Entertainment, Licensing and Digital | 304,266 |  |  | 7,989 |  |  | 246,747 |  |  | 11,378 |
Global Operations (a) | 81 |  |  | 1,088,860 |  |  | 109 |  |  | 1,152,851 |
Corporate and Eliminations (b) | — |  |  | (1,104,414 | ) |  | — |  |  | (1,171,612 | )
| $ | 3,292,220 |  |  | — |  |  | 3,190,485 |  |  | — |
As a result of the realignment of the Company's financial reporting segments, revenues of $11,999 and $33,271 for the quarter and nine months ended September 30, 2018, respectively, were reclassified from the U.S. and Canada segment to the Entertainment, Licensing and Digital segment to conform to current year presentation.
| Quarter Ended |  | Nine Months Ended
Operating profit (loss) | September 29, 2019 |  | September 30, 2018 |  | September 29, 2019 |  | September 30, 2018
U.S. and Canada | $ | 193,686 |  |  | $ | 223,061 |  |  | $ | 313,795 |  |  | $ | 269,539 |
International | 67,238 |  |  | 66,274 |  |  | 51,410 |  |  | 10,359 |
Entertainment, Licensing and Digital | 24,594 |  |  | 37,113 |  |  | 62,550 |  |  | 76,016 |
Global Operations (a) | 11,074 |  |  | 3,179 |  |  | 6,342 |  |  | (4,623 | )
Corporate and Eliminations (b) | 618 |  |  | (16,291 | ) |  | 27,573 |  |  | (30,786 | )
| $ | 297,210 |  |  | $ | 313,336 |  |  | $ | 461,670 |  |  | $ | 320,505 |
As a result of the realignment of the Company's financial reporting segments, operating profit of $3,455 and $9,825 for the quarter and nine months ended September 30, 2018, respectively, were reclassified from the U.S. and Canada segment to the Entertainment, Licensing and Digital segment to conform to current year presentation.
Total assets | September 29, 2019 |  | September 30, 2018 |  | December 30, 2018
U.S. and Canada | $ | 3,331,125 |  |  | 3,028,291 |  |  | 2,898,816 |
International | 2,394,488 |  |  | 2,323,866 |  |  | 2,229,053 |
Entertainment, Licensing and Digital | 1,031,906 |  |  | 890,526 |  |  | 621,595 |
Global Operations (a) | 3,255,286 |  |  | 4,306,291 |  |  | 3,197,847 |
Corporate and Eliminations (b) | (4,458,181 | ) |  | (5,053,645 | ) |  | (3,684,323 | )
| $ | 5,554,624 |  |  | 5,495,329 |  |  | 5,262,988 |
(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 and nine month periods ended September 29, 2019 and September 30, 2018:
| Quarter Ended |  | Nine Months Ended
| September 29, 2019 |  | September 30, 2018 |  | September 29, 2019 |  | September 30, 2018
Europe | $ | 319,277 |  |  | 331,353 |  |  | $ | 673,728 |  |  | 686,490 |
Latin America | 151,987 |  |  | 145,703 |  |  | 305,106 |  |  | 308,065 |
Asia Pacific | 89,873 |  |  | 83,648 |  |  | 242,390 |  |  | 234,538 |
Net revenues | $ | 561,137 |  |  | 560,704 |  |  | $ | 1,221,224 |  |  | 1,229,093 |
The following table presents consolidated net revenues by brand portfolio for the quarters and nine month periods ended September 29, 2019 and September 30, 2018:
| Quarter Ended |  | Nine Months Ended
| September 29, 2019 |  | September 30, 2018 |  | September 29, 2019 |  | September 30, 2018
Franchise Brands | $ | 779,659 |  |  | $ | 847,745 |  |  | $ | 1,749,948 |  |  | $ | 1,715,986 |
Partner Brands | 427,029 |  |  | 305,827 |  |  | 812,466 |  |  | 714,424 |
Hasbro Gaming | 232,287 |  |  | 280,832 |  |  | 463,272 |  |  | 520,334 |
Emerging Brands | 136,198 |  |  | 135,282 |  |  | 266,534 |  |  | 239,741 |
Total | $ | 1,575,173 |  |  | $ | 1,569,686 |  |  | $ | 3,292,220 |  |  | $ | 3,190,485 |
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 $449,393 and $1,086,151 for the quarter and nine months ended September 29, 2019, respectively. For the quarter and nine months ended September 30, 2018, total gaming revenues were $447,844 and $964,159, respectively.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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