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Acquisition | 12 Months Ended
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Dec. 29, 2019
Business Combinations [Abstract] |
Acquisition | Acquisition During October 2019, the Company acquired Tuque Games ("Tuque"), an independent digital game development studio based in Montreal, Canada for a purchase price of $8,761, net of cash acquired. Tuque is included as part of the Company's Entertainment, Licensing and Digital segment and will focus on the development of digital games for Hasbro brands including DUNGEONS & DRAGONS. The initial accounting allocation of the consideration transferred may be modified during the period through September 27, 2020. On June 12, 2018, the Company completed the acquisition of Saban Properties’ POWER RANGERS and other Entertainment Assets. The Company accounted for the acquisition as an asset acquisition based on the guidance in ASU 2017-1, which uses the cost accumulation and allocation method. As such, the Company included acquisition costs in its calculation of the purchase price to be allocated to the assets acquired. The total purchase price for the assets was $535,850, consisting of the following:
Cash Consideration: |
To seller(1) | $ | 152,000 |
Held in escrow(2) | 25,000 |
Market value of stock issued to seller(3) | 280,397 |
Deferred purchase price due in January 2019(4) | 75,000 |
| 532,397 |
Acquisition costs | 1,973 |
Other adjustment | 1,480 |
Total Purchase Price to be allocated | $ | 535,850 |
1. | The Company previously paid Saban Brands $22,250 for the POWER RANGERS master toy license agreement announced in February 2018 and those amounts were credited to, and included above, in the purchase price.
2. | The $25,000 was placed into an escrow account to support customary indemnification obligations of Saban Properties. One-half of the $25,000 in escrow was released on January 3, 2019, and the remaining half was released on the one-year anniversary of the closing date.
3. | The Company issued 3,074 shares of Hasbro common stock to Saban Properties, valued at $280,397.
4. | An additional $75,000 was paid in January 2019 with no contingencies.
The total purchase price was allocated on a relative fair value basis as follows:
• | $534,370 was recorded as an intangible asset – POWER RANGERS IP rights, which is being amortized over a period of 25 years;
• | $7,884 as current assets;
• | $325 as capitalized production costs; and
• $6,729 as other current liabilities.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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