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Commitments and Contingencies | 12 Months Ended
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Dec. 29, 2024
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | Commitments and Contingencies Contingencies: The Company enters into license agreements with strategic partners, inventors, designers and others for the use of intellectual properties in its products. Certain of these agreements contain provisions for the payment of guaranteed or minimum royalty amounts. Under terms of existing agreements as of December 29, 2024, Hasbro may, provided the other party meets their contractual commitment, be required to pay amounts as follows: 2025: $92.5 million; 2026: $97.2 million; 2027: $39.0 million; 2028: $11.5 million; 2029: $11.5 million; and thereafter: $13.0 million. As of December 29, 2024, the Company had $23.1 million of prepaid royalties, all of which are included in prepaid expenses and other current assets. Interest payment obligations on the Company's fixed-rate long-term debt are as follows: 2025: $158.2 million; 2026: $156.4 million; 2027: $134.2 million; 2028: $117.2 million; 2029: $109.5 million; and thereafter: $683.5 million. The Company enters into contracts with certain partners which among other things, provide the Company with the right of first refusal to purchase, distribute, or license certain entertainment projects or content. As of December 29, 2024, the Company estimates that it may be obligated to pay $3.9 million and $1.8 million in 2025 and 2026, respectively, related to such agreements. In connection with the Company’s agreement to form a joint venture with Discovery, the Company is obligated to make future payments to Discovery under a tax sharing agreement. The Company estimates these payments may total approximately $3.5 million and may range from approximately $0.4 million to $3.1 million per year during the period 2025 to 2026, with no remaining payments due thereafter. These payments are contingent upon the Company having sufficient taxable income to realize the expected tax deductions of certain amounts related to the joint venture. As of December 29, 2024, the Company estimates payments related to inventory and tooling purchase commitments may total approximately $209.5 million. The Company monitors for any estimated environmental contingencies related to its current physical locations and former owned or leased facilities which it is responsible for environmental matters. The Company has estimated a $31.1 million environmental liability related to a previously owned manufacturing facility (environmental liability assumed as part of a historical acquisition) in which the Company is solely responsible for the mitigation and remediation activities. See Note 17, Leases, for additional information on the Company's future lease payment commitments. See Note 11, Long-Term Debt and Other Financing, for additional information on the Company's long-term debt. Legal and Other Claims: Hasbro is party to certain legal proceedings, as well as certain asserted and unasserted claims. Amounts accrued, as well as the total amount of reasonably possible losses with respect to such matters, individually and in the aggregate, are not deemed to be material to the consolidated financial statements. The Company from time to time may be subject to lawsuits and other claims related to product, commercial, employee, environmental and other matters in the normal course of business. In determining costs to accrue related to these items, the Company carefully analyzes cases and considers the likelihood of adverse judgments or outcomes, as well as the potential range of possible loss. The Company accrues for matters when losses are both probable and estimable. Any amounts accrued for these matters are monitored on an ongoing basis and are updated based on new developments or new information as it becomes available for each matter.

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