XML 47 R29.htm IDEA: XBRL DOCUMENT
v3.20.4

Quarterly Financial Data (Unaudited) | 12 Months Ended
--- | ---
Dec. 27, 2020
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Data (Unaudited) | Quarterly Financial Data (Unaudited)
| Quarter |  |
| First |  | Second |  | Third |  | Fourth |  | Full Year
2020 |  |  |  |  |  |  |  |  |
Net revenues | $ | 1,105,570 |  |  | 860,279 |  |  | 1,776,623 |  |  | 1,722,971 |  |  | 5,465,443 |
Operating profit (loss) (a) | (23,283) |  |  | 2,175 |  |  | 336,558 |  |  | 186,364 |  |  | 501,814 |
Earnings (loss) before income taxes | (71,882) |  |  | (43,728) |  |  | 299,198 |  |  | 138,474 |  |  | 322,062 |
Net earnings (loss) (a) | (67,810) |  |  | (32,898) |  |  | 219,983 |  |  | 106,166 |  |  | 225,441 |
Net earnings (loss) attributable to Hasbro, Inc. | (69,637) |  |  | (33,915) |  |  | 220,898 |  |  | 105,173 |  |  | 222,519 |
Per common share |  |  |  |  |  |  |  |  |
Net earnings (loss) |  |  |  |  |  |  |  |  |
Basic | $ | (0.51) |  |  | (0.25) |  |  | 1.61 |  |  | 0.77 |  |  | 1.62 |
Diluted | (0.51) |  |  | (0.25) |  |  | 1.61 |  |  | 0.76 |  |  | 1.62 |
Market price |  |  |  |  |  |  |  |  |
High | $ | 109.50 |  |  | 83.99 |  |  | 83.26 |  |  | 97.13 |  |  | 109.50 |
Low | 41.33 |  |  | 60.20 |  |  | 70.78 |  |  | 77.29 |  |  | 41.33 |
Cash dividends declared | $ | 0.68 |  |  | 0.68 |  |  | 0.68 |  |  | 0.68 |  |  | 2.72 |
2019 |  |  |  |  |  |  |  |  |
Net revenues | $ | 732,510 |  |  | 984,537 |  |  | 1,575,173 |  |  | 1,428,007 |  |  | 4,720,227 |
Operating profit (b) | 36,127 |  |  | 128,333 |  |  | 297,210 |  |  | 190,380 |  |  | 652,050 |
Earnings before income taxes | 29,595 |  |  | 6,108 |  |  | 259,746 |  |  | 298,761 |  |  | 594,210 |
Net earnings (b) | 26,727 |  |  | 13,433 |  |  | 212,949 |  |  | 267,345 |  |  | 520,454 |
Per common share |  |  |  |  |  |  |  |  |
Net earnings |  |  |  |  |  |  |  |  |
Basic | $ | 0.21 |  |  | 0.11 |  |  | 1.68 |  |  | 2.02 |  |  | 4.07 |
Diluted | 0.21 |  |  | 0.11 |  |  | 1.67 |  |  | 2.01 |  |  | 4.05 |
Market price |  |  |  |  |  |  |  |  |
High | $ | 93.19 |  |  | 108.86 |  |  | 126.87 |  |  | 123.05 |  |  | 126.87 |
Low | 77.34 |  |  | 84.61 |  |  | 103.04 |  |  | 92.59 |  |  | 77.34 |
Cash dividends declared | $ | 0.68 |  |  | 0.68 |  |  | 0.68 |  |  | 0.68 |  |  | 2.72 |
(a)Operating profit (loss) and net earnings (loss) for the 2020 quarters include the impact of the following items: •During 2020, in association with the acquisition of eOne, the Company incurred the following: ◦Incremental intangible amortization costs related to the intangible assets acquired totaling $97,856 ($80,731 after-tax). Incremental intangible amortization costs by quarter were as follows: $25,028 ($19,885 after-tax) in the first quarter, $22,592 ($17,949 after-tax) in the second quarter, $24,716 ($19,637 after-tax) in the third quarter, and $25,520 ($23,260 after-tax) in the fourth quarter, respectively. ◦The Company also incurred related costs of $218,566 ($188,557 after-tax), comprised of the following: ▪Acquisition and integration costs, including expense associated with the acceleration of eOne stock-based compensation, intangible asset impairments and advisor fees settled at the closing of the acquisition by quarter were as follows: $95,718 in the first quarter, $3,966 in the second quarter, $4,599 in the third quarter, and $40,886 in the fourth quarter, respectively. ▪Restructuring and related costs, including severance and retention costs by quarter were as follows: $54,064 in the first quarter, $6,296 in the second quarter, $1,350 in the third quarter, and $11,687 in the fourth quarter, respectively. •The Company incurred $8,470 of severance charges during 2020, associated with cost-savings initiatives within the Company’s commercial and Film and TV business. Severance charges by quarter were as follows: $11,554 in the second quarter, and ($3,084) in the fourth quarter, respectively. •During 2020, net earnings was impacted by income tax expense of $15,389 as a result of the revaluation of Hasbro’s UK tax attributes in accordance with the Finance Act of 2020 enacted by the United Kingdom on July 22, 2020. Income tax expense by quarter were as follows: $13,680 in the third quarter, and $1,709 in the fourth quarter, respectively. (b)Operating profit and net earnings for the 2019 quarters include the impact of the following items: •During 2019, net earnings was impacted by $110,962 ($85,995 after-tax) non-cash charges related to the settlement of the Company's U.S. defined benefit pension plan. Non-cash charges consisted of $110,777 ($85,852 after-tax) in the second quarter, and $185 ($143 after-tax) in the fourth quarter, respectively. During 2018 the Compensation Committee of the Company’s Board of Directors approved a resolution to terminate the Company’s U.S. defined benefit pension plan and commenced the termination process. •In the third quarter of 2019, net earnings were impacted by a loss of $25,533 ($20,886 after-tax) related to hedging the British pound sterling purchase price of eOne. During the third quarter of 2019 the Company announced that they entered into a definitive agreement under which the Company would acquire eOne in an all-cash transaction, to be paid in British pound sterling. The Company hedged a portion of its exposure to fluctuations in the British pound sterling in relation to the acquisition using a series of both foreign exchange forward and option contracts. These contracts did not qualify for hedge accounting and, as such, were marked to market through other expense in the Company's Consolidated Statement of Operations. •In the fourth quarter of 2019, in association with the Company's agreement to acquire eOne, the Company incurred certain transaction-related costs, as well as hedge gains on the British pound sterling purchase price in 2019. This resulted in eOne net gains in the fourth quarter of 2019 of $101,249 ($102,658 after-tax), comprised of the following: ◦Net earnings were impacted by hedge gains of $139,666 in the fourth quarter of 2019 related to the foreign exchange forward and option contracts to hedge a portion of the British pound sterling purchase price for the eOne Acquisition; ◦Net earnings were impacted by financing transaction fees of $20,568 in the fourth quarter, primarily related to the Company’s bridge financing facility which terminated unused in the fourth quarter of 2019; ◦Operating profit and net earnings were impacted by eOne Acquisition related costs of $17,778 in the fourth quarter; and ◦Net earnings were impacted by tax benefits of $1,409 in the fourth quarter of 2019 related to the eOne Acquisition related costs and Financing transaction fees.

X
- References No definition available. + Details
Name: | us-gaap_QuarterlyFinancialInformationDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
Name: | us-gaap_QuarterlyFinancialInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration