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Segment Reporting (Tables) | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Schedule of Information and Reconciliation by Segment | Information by segment and a reconciliation to reported amounts are as follows:
(In millions) | Revenues from External Customers |  | Affiliate Revenue |  | Depreciation and Amortization |  | Capital Additions |  | Total Assets
2023 |  |  |  |  |  |  |  |  |
Consumer Products (a) | $ | 2,886.4 |  |  | 279.9 |  |  | 130.0 |  |  | 60.0 |  |  | 6,456.2 |
Wizards of the Coast and Digital Gaming | 1,457.6 |  |  | 183.6 |  |  | 27.8 |  |  | 122.5 |  |  | 4,340.5 |
Entertainment (a)(b) | 659.3 |  |  | 51.8 |  |  | 28.5 |  |  | 0.4 |  |  | 3,507.7 |
Corporate and Other (b) | — |  |  | (515.3) |  |  | 24.4 |  |  | 26.4 |  |  | (7,763.5) |
Consolidated Total | $ | 5,003.3 |  |  | — |  |  | 210.7 |  |  | 209.3 |  |  | 6,540.9 |
2022 |  |  |  |  |  |  |  |  |
Consumer Products (a) | $ | 3,572.5 |  |  | 396.7 |  |  | 152.5 |  |  | 87.0 |  |  | 5,757.7 |
Wizards of the Coast and Digital Gaming | 1,325.1 |  |  | 172.5 |  |  | 14.6 |  |  | 52.5 |  |  | 2,968.7 |
Entertainment (a)(b) | 959.1 |  |  | 57.5 |  |  | 43.8 |  |  | 6.9 |  |  | 6,273.3 |
Corporate and Other (b) | — |  |  | (626.7) |  |  | 21.6 |  |  | 27.8 |  |  | (5,703.8) |
Consolidated Total | $ | 5,856.7 |  |  | — |  |  | 232.5 |  |  | 174.2 |  |  | 9,295.9 |
2021 |  |  |  |  |  |  |  |  |
Consumer Products | $ | 3,981.6 |  |  | 465.4 |  |  | 112.4 |  |  | 73.1 |  |  | 4,925.5 |
Wizards of the Coast and Digital Gaming | 1,286.6 |  |  | 121.6 |  |  | 48.5 |  |  | 35.1 |  |  | 1,585.1 |
Entertainment (b) | 1,152.2 |  |  | 61.5 |  |  | 96.6 |  |  | 6.2 |  |  | 6,052.8 |
Corporate and Other (b) | — |  |  | (648.5) |  |  | 22.6 |  |  | 18.3 |  |  | (2,525.6) |
Consolidated Total | $ | 6,420.4 |  |  | — |  |  | 280.1 |  |  | 132.7 |  |  | 10,037.8 |
Schedule of Operating Profit (Loss) by Segment |
(In millions) | 2023 |  | 2022 |  | 2021
Operating profit (loss) |  |  |  |  |
Consumer Products | $ | (64.7) |  |  | 217.3 |  |  | 401.4 |
Wizards of the Coast and Digital Gaming | 525.7 |  |  | 538.3 |  |  | 547.0 |
Entertainment (b) | (1,911.5) |  |  | 22.7 |  |  | (91.8) |
Corporate and Other (b)(c) | (88.3) |  |  | (370.6) |  |  | (93.3) |
Operating profit (loss) | (1,538.8) |  |  | 407.7 |  |  | 763.3 |
Interest expense | 186.3 |  |  | 171.0 |  |  | 179.7 |
Interest income | (23.0) |  |  | (11.8) |  |  | (5.4) |
Other non-operating expense (income) | 7.0 |  |  | (13.0) |  |  | 7.1 |
Earnings (loss) before income taxes | $ | (1,709.1) |  |  | 261.5 |  |  | 581.9 |
(a)Beginning in 2022, the Company has allocated certain of the intangible amortization costs related to the assets acquired in the eOne Acquisition, between the Consumer Products and Entertainment segments. (b)Certain long-term assets, including property, plant and equipment, goodwill and other intangibles, which benefit multiple operating segments, are included in both Entertainment and Corporate and Other. Allocations of certain Corporate and Other expenses, related to these assets are made to the individual operating segments at the beginning of the year based on budgeted amounts. Any differences between actual and budgeted amounts are reflected in Corporate and Other because allocations are translated from the U.S. Dollar to local currency at budgeted rates when recorded. Corporate and Other also includes the elimination of inter-company balance sheet amounts. (c)Corporate and Other Operating profit (loss) includes Operational Excellence related transformation office and consulting fees of $35.3 million for the year ended December 31, 2023, which are recorded within Selling, distribution and administration costs within the Consolidated Statements of Operations. Third party consultants were engaged to assist the Company in performing a comprehensive review of operations and developing a transformation plan designed to support the organization in identifying, realizing, and capturing savings through the identification of organizational initiatives intended to create efficiencies and improve business processes and operations. The consultants assisted in providing benchmark data and are currently assisting with the design of an improved operating model and supply chain function. The Company expects this consulting assistance to conclude in 2024 in line with the planning stages of the final components of the transformation plan. Corporate and Other Operating Profit (loss) includes other consulting expense of $24.7 million for the year ended December 25, 2022, as well as incentive compensation for all periods presented
Summary of Net Revenues by Geographic Regions | The following table represents consolidated Consumer Products segment net revenues by major geographic region for the three fiscal years ended December 31, 2023.
(In millions) | 2023 |  | 2022 |  | 2021
North America | $ | 1,649.1 |  |  | 2,064.8 |  |  | 2,315.9 |
Europe | 669.5 |  |  | 899.5 |  |  | 1,067.7 |
Asia Pacific | 256.3 |  |  | 293.4 |  |  | 310.1 |
Latin America | 311.5 |  |  | 314.8 |  |  | 287.9 |
Net revenues | $ | 2,886.4 |  |  | 3,572.5 |  |  | 3,981.6 |
Summary of Net Revenues by Category and Brand Portfolio | The following table represents consolidated Wizards of the Coast and Digital Gaming segment net revenues by category for the three fiscal years ended December 31, 2023:
(In millions) | 2023 |  | 2022 |  | 2021
Tabletop Gaming | $ | 1,072.5 |  |  | 1,067.0 |  |  | 950.6 |
Digital and Licensed Gaming | 385.1 |  |  | 258.1 |  |  | 336.0 |
Net revenues | $ | 1,457.6 |  |  | 1,325.1 |  |  | 1,286.6 |
The following table represents consolidated Entertainment segment net revenues by category for the three fiscal years ended December 31, 2023.
(In millions) | 2023 |  | 2022 |  | 2021
Film and TV | $ | 575.5 |  |  | 837.6 |  |  | 932.5 |
Family Brands | 83.8 |  |  | 79.4 |  |  | 132.9 |
Music and Other | — |  |  | 42.1 |  |  | 86.8 |
Net revenues | $ | 659.3 |  |  | 959.1 |  |  | 1,152.2 |
The following table presents consolidated net revenues by brand portfolio for the three fiscal years ended December 31, 2023.
(In millions) | 2023 |  | 2022 |  | 2021
Franchise Brands | $ | 3,256.5 |  |  | 3,350.8 |  |  | 3,541.9 |
Partner Brands | 687.8 |  |  | 1,052.0 |  |  | 1,161.0 |
Portfolio Brands | 521.3 |  |  | 625.2 |  |  | 719.8 |
Non-Hasbro Branded Film & TV | 537.7 |  |  | 828.7 |  |  | 997.7 |
Net revenues | $ | 5,003.3 |  |  | 5,856.7 |  |  | 6,420.4 |
Net revenue from Hasbro’s Total Gaming category, including all gaming revenues, most notably DUNGEONS & DRAGONS, MAGIC: THE GATHERING and Hasbro Gaming, totaled $2,074.4 million, $1,997.5 million and $2,098.9 million for the years ended December 31, 2023, December 25, 2022 and December 26, 2021, respectively, of which MAGIC: THE GATHERING contributed $1,085.8 million, $1,065.2 million and $992.1 million.
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas | Information as to Hasbro’s operations in different geographical areas is presented below on the basis the Company uses to manage its business. Net revenues are categorized based on the location of the customer, while long-lived assets (property, plant and equipment, goodwill and other intangibles) are categorized based on their location.
(In millions) | 2023 |  | 2022 |  | 2021
Net revenues |  |  |  |  |
United States | $ | 3,010.1 |  |  | 3,544.2 |  |  | 3,898.9 |
International | 1,993.2 |  |  | 2,312.5 |  |  | 2,521.5 |
| $ | 5,003.3 |  |  | 5,856.7 |  |  | 6,420.4 |
Long-lived assets |  |  |  |  |
United States | $ | 1,153.7 |  |  | 1,042.3 |  |  | 1,359.6 |
International | 2,201.6 |  |  | 3,665.3 |  |  | 3,653.0 |
| $ | 3,355.3 |  |  | 4,707.6 |  |  | 5,012.6 |

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 + Details
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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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