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Segment Reporting | 3 Months Ended
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Mar. 29, 2020
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, (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, 2020 |  | March 31, 2019
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, 2020 |  | March 31, 2019 |  | December 29, 2019
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, 2020 |  | March 31, 2019
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, 2020 |  | March 31, 2019
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) TV/Film/Entertainment represents eOne revenues not allocated to the Emerging Brands portfolio.

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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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