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Income Taxes (Tables) | 12 Months Ended
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Dec. 27, 2020
Income Tax Disclosure [Abstract] |
Schedule of Components of Earnings Before Income Taxes, Determined by Tax Jurisdiction | The components of earnings before income taxes, determined by tax jurisdiction, are as follows:
| 2020 |  | 2019 |  | 2018
United States | $ | 191,461 |  |  | 250,453 |  |  | 6,293 |
International | 130,601 |  |  | 343,757 |  |  | 264,109 |
Total earnings before income taxes | $ | 322,062 |  |  | 594,210 |  |  | 270,402 |
Schedule of Income Taxes Attributable to Earnings Before Income Taxes | Income taxes attributable to earnings before income taxes are:
| 2020 |  | 2019 |  | 2018
Current |  |  |  |  |
United States | $ | 22,279 |  |  | 41,355 |  |  | 12,805 |
State and local | 6,080 |  |  | 5,528 |  |  | 5,644 |
International | 37,946 |  |  | 41,829 |  |  | 42,613 |
| 66,305 |  |  | 88,712 |  |  | 61,062 |
Deferred |  |  |  |  |
United States | 27,171 |  |  | (20,139) |  |  | (4,937) |
State and local | (10,847) |  |  | (1,438) |  |  | (471) |
International | 13,992 |  |  | 6,621 |  |  | (5,686) |
| 30,316 |  |  | (14,956) |  |  | (11,094) |
Total income taxes | $ | 96,621 |  |  | 73,756 |  |  | 49,968 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the statutory United States federal income tax rate to Hasbro’s effective income tax rate is as follows:
| 2020 |  | 2019 |  | 2018
Statutory income tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State and local income taxes, net | 2.2 |  |  | 0.5 |  |  | 1.5 |
Tax on international earnings | (6.2) |  |  | (4.6) |  |  | (11.4) |
Change in unrecognized tax benefits | 4.1 |  |  | 0.6 |  |  | (7.9) |
Change in valuation allowance | 4.5 |  |  | — |  |  | — |
Share-based compensation | (0.4) |  |  | (0.8) |  |  | (4.0) |
Tax Cuts and Jobs Act of 2017 | — |  |  | — |  |  | 15.0 |
Research and development tax credits | (1.6) |  |  | (0.7) |  |  | (1.9) |
Non-deductible goodwill impairment | — |  |  | — |  |  | 2.0 |
Deferred tax rate change | 3.6 |  |  | — |  |  | — |
Gains on integrated hedging instruments | — |  |  | (4.0) |  |  | — |
Officers' compensation | 1.4 |  |  | — |  |  | — |
Other, net | 1.4 |  |  | 0.4 |  |  | 4.2 |
| 30.0 | % |  | 12.4 | % |  | 18.5 | %
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities at December 27, 2020 and December 29, 2019 are:
| 2020 |  | 2019
Deferred tax assets: |  |  |
Accounts receivable | $ | 32,688 |  |  | 26,973 |
Inventories | 14,038 |  |  | 10,020 |
Loss and credit carryforwards | 221,598 |  |  | 35,509 |
Operating leases | 23,147 |  |  | 15,378 |
Operating expenses | 32,912 |  |  | 23,124 |
Pension | 7,905 |  |  | 6,206 |
Other compensation | 33,718 |  |  | 27,633 |
Postretirement benefits | 7,932 |  |  | 7,053 |
Interest rate hedge | 4,996 |  |  | 5,202 |
Tax sharing agreement | 2,219 |  |  | 3,096 |
Deferred revenue | 8,298 |  |  | 5,591 |
Other | 11,992 |  |  | 10,637 |
Gross deferred tax assets | 401,443 |  |  | 176,422 |
Deferred tax liabilities: |  |  |
Depreciation and amortization of long-lived assets | 181,227 |  |  | 13,361 |
Equity method investment | 21,328 |  |  | 17,674 |
Operating leases | 20,056 |  |  | 11,936 |
Foreign exchange | 7,280 |  |  | 58 |
Prepaid expenses | 3,565 |  |  | 2,597 |
Other | 10,993 |  |  | 7,741 |
Gross deferred tax liabilities | 244,449 |  |  | 53,367 |
Valuation allowance | (174,185) |  |  | (33,260) |
Net deferred income taxes | $ | (17,191) |  |  | 89,795 |
Schedule of Deferred Tax Assets and Liabilities by Balance Sheet Location | At December 27, 2020 and December 29, 2019, the Company’s net deferred income taxes are recorded in the consolidated balance sheets as follows:
| 2020 |  | 2019
Other assets | 137,633 |  |  | 92,401 |
Other liabilities | (154,824) |  |  | (2,606) |
Net deferred income taxes | $ | (17,191) |  |  | 89,795 |
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of unrecognized tax benefits, excluding potential interest and penalties, for the fiscal years ended December 27, 2020, December 29, 2019, and December 30, 2018 is as follows:
| 2020 |  | 2019 |  | 2018
Balance at beginning of year | $ | 36,651 |  |  | 46,074 |  |  | 84,244 |
Gross increases in prior period tax positions | 12,659 |  |  | 2,031 |  |  | 4,449 |
Gross increase from acquisition | 13,717 |  |  | — |  |  | — |
Gross decreases in prior period tax positions | — |  |  | — |  |  | (55,752) |
Gross increases in current period tax positions | 11,758 |  |  | 4,152 |  |  | 16,987 |
Decreases related to settlements with tax authorities | — |  |  | (12,037) |  |  | (1,102) |
Decreases from the expiration of statute of limitations | (6,962) |  |  | (3,569) |  |  | (2,752) |
Balance at end of year | $ | 67,823 |  |  | 36,651 |  |  | 46,074 |

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