0000046080-21-000108 | 10-Q | XBRL Viewer

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Cover - shares	9 Months Ended
Cover - shares	Sep. 26, 2021	Oct. 26, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 26, 2021
Document Transition Report	false
Entity File Number	1-6682
Entity Registrant Name	HASBRO, INC.
Entity Incorporation, State or Country Code	RI
Entity Tax Identification Number	05-0155090
Entity Address, Address Line One	1027 Newport Avenue
Entity Address, City or Town	Pawtucket,
Entity Address, State or Province	RI
Entity Address, Postal Zip Code	02861
City Area Code	401
Local Phone Number	431-8697
Title of 12(b) Security	Common Stock, $0.50 par value per share
Trading Symbol	HAS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		137,946,906
Entity Central Index Key	0000046080
Current Fiscal Year End Date	--12-26
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 26, 2021	Dec. 27, 2020	Sep. 27, 2020
Current assets
Cash and cash equivalents including restricted cash of $94.9 million, $71.2 million and $73.2 million	$ 1,181.2	$ 1,449.7	$ 1,132.4
Accounts receivable, less allowance for doubtful accounts of $30.4 million, $23.7 million and $28.1 million	1,476.6	1,391.7	1,438.4
Inventories	544.1	395.6	540.0
Prepaid expenses and other current assets	528.5	609.6	648.2
Total current assets	3,730.4	3,846.6	3,759.0
Property, plant and equipment, less accumulated depreciation of $607.6 million, $546.8 million and $553.0 million	441.9	489.0	477.2
Other assets
Goodwill	3,420.2	3,691.7	3,644.1
Other intangible assets, net of accumulated amortization of $1,027.4 million, $885.8 million and $964.6 million	1,209.5	1,530.8	1,546.8
Other	1,428.4	1,260.2	1,276.1
Total other assets	6,058.1	6,482.7	6,467.0
Total assets	10,230.4	10,818.3	10,703.2
Current liabilities
Short-term borrowings	0.9	6.6	10.0
Current portion of long-term debt	187.6	432.6	369.3
Accounts payable	598.2	425.5	466.2
Accrued liabilities	1,663.7	1,538.6	1,470.1
Total current liabilities	2,450.4	2,403.3	2,315.6
Long-term debt	3,977.4	4,660.0	4,777.8
Other liabilities	722.5	793.9	778.5
Total liabilities	7,150.3	7,857.2	7,871.9
Redeemable noncontrolling interests	22.9	24.4	22.9
Shareholders' equity
Preference stock of $2.50 par value. Authorized 5,000,000 shares; none issued	0.0	0.0	0.0
Common stock of $0.50 par value. Authorized 600,000,000 shares; issued 220,286,736 shares at September 26, 2021, September 27, 2020, and December 27, 2020	110.1	110.1	110.1
Additional paid-in capital	2,388.9	2,329.1	2,311.4
Retained earnings	4,269.6	4,204.2	4,192.4
Accumulated other comprehensive loss	(208.6)	(195.0)	(280.3)
Treasury stock, at cost; 82,359,425 shares at September 26, 2021; 83,256,622 shares at September 27, 2020; and 82,979,403 shares at December 27, 2020	(3,541.0)	(3,551.7)	(3,559.9)
Noncontrolling interests	38.2	40.0	34.7
Total shareholders' equity	3,057.2	2,936.7	2,808.4
Total liabilities, noncontrolling interests and shareholders' equity	$ 10,230.4	$ 10,818.3	$ 10,703.2

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 26, 2021	Dec. 27, 2020	Sep. 27, 2020
ASSETS
Restricted cash	$ 94.9	$ 73.2	$ 71.2
Accounts receivable, allowance for doubtful accounts	30.4	28.1	23.7
Property, plant and equipment, accumulated depreciation	607.6	553.0	546.8
Other intangibles, accumulated amortization	$ 1,027.4	$ 964.6	$ 885.8
Shareholders' equity
Preference stock, par value (in dollars per share)	$ 2.50	$ 2.50	$ 2.50
Preference stock, authorized (in shares)	5,000,000	5,000,000	5,000,000
Preference stock, issued (in shares)	0	0	0
Common stock, par value (in dollars per share)	$ 0.50	$ 0.50	$ 0.50
Common stock, authorized (in shares)	600,000,000	600,000,000	600,000,000
Common stock, issued (in shares)	220,286,736	220,286,736	220,286,736
Treasury stock (in shares)	82,359,425	82,979,403	83,256,622

Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020
Income Statement [Abstract]
Net revenues	$ 1,970.0	$ 1,776.6	$ 4,407.0	$ 3,742.5
Costs and expenses:
Cost of sales	609.5	610.1	1,244.4	1,126.0
Program cost amortization	187.9	85.4	396.1	268.2
Royalties	171.8	176.9	392.2	387.1
Product development	80.1	62.7	229.1	174.9
Advertising	163.3	137.4	356.6	311.4
Amortization of intangibles	27.7	36.2	90.3	107.7
Loss on disposal of business	0.0	0.0	101.8	0.0
Selling, distribution and administration	361.8	325.4	1,004.7	885.7
Acquisition and related costs	0.0	5.9	0.0	166.0
Total costs and expenses	1,602.1	1,440.0	3,815.2	3,427.0
Operating profit	367.9	336.6	591.8	315.5
Non-operating expense (income):
Interest expense	43.3	49.4	137.3	153.7
Interest income	(1.8)	(0.7)	(4.2)	(6.3)
Other income (expense), net	3.0	(11.3)	(35.3)	(15.4)
Total non-operating expense, net	44.5	37.4	97.8	132.0
Earnings before income taxes	323.4	299.2	494.0	183.5
Income tax expense	68.5	79.2	143.5	64.3
Net earnings	254.9	220.0	350.5	119.2
Net earnings (loss) attributable to noncontrolling interests	1.7	(0.9)	4.0	1.9
Net earnings attributable to Hasbro, Inc.	$ 253.2	$ 220.9	$ 346.5	$ 117.3
Net earnings per common share:
Basic (in dollars per share)	$ 1.83	$ 1.61	$ 2.51	$ 0.86
Diluted (in dollars per share)	1.83	1.61	2.51	0.85
Cash dividends declared per common share (in dollars per share)	$ 0.68	$ 0.68	$ 2.04	$ 2.04

Consolidated Statements of Comprehensive Earnings - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020
Statement of Comprehensive Income [Abstract]
Net earnings	$ 254.9	$ 220.0	$ 350.5	$ 119.2
Other comprehensive earnings:
Foreign currency translation adjustments, net of tax	(31.4)	40.8	(23.6)	(98.1)
Unrealized holding (gains) losses on available-for-sale securities, net of tax	(0.3)	(0.8)	(0.1)	1.3
Net gains (losses) on cash flow hedging activities, net of tax	5.2	(5.7)	7.8	15.7
Reclassifications to earnings, net of tax:
Net losses (gains) on cash flow hedging activities	1.1	(6.8)	1.7	(15.8)
Amortization of unrecognized pension and postretirement amounts	0.2	0.3	0.6	0.8
Total other comprehensive (loss) earnings, net of tax	(25.1)	27.8	(13.6)	(96.1)
Total comprehensive earnings (loss) attributable to noncontrolling interests	1.7	(0.9)	4.0	1.9
Total comprehensive earnings attributable to Hasbro, Inc.	$ 228.1	$ 248.7	$ 332.9	$ 21.2

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 26, 2021	Sep. 27, 2020
Cash flows from operating activities:
Net earnings	$ 350.5	$ 119.2
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation of plant and equipment	116.2	94.2
Amortization of intangibles	90.3	107.7
Asset impairments	0.0	40.9
Loss on disposal of business	101.8	0.0
Program cost amortization	396.1	268.2
Deferred income taxes	47.9	12.5
Stock-based compensation	56.2	40.0
Other non-cash items	5.7	(1.7)
Change in operating assets and liabilities net of acquired balances:
(Increase) decrease in accounts receivable	(83.8)	165.6
Increase in inventories	(159.4)	(96.9)
Decrease (increase) in prepaid expenses and other current assets	56.7	(10.0)
Program spend, net	(526.3)	(294.6)
Increase in accounts payable and accrued liabilities	310.5	19.0
Change in net deemed repatriation tax	(18.4)	(18.3)
Other	(58.4)	48.5
Net cash provided by operating activities	685.6	494.3
Cash flows from investing activities:
Additions to property, plant and equipment	(98.1)	(92.1)
Acquisitions, net of cash acquired	0.0	(4,403.9)
Proceeds from sale of business, net of cash	379.2	0.0
Other	(3.6)	24.3
Net cash provided (utilized) by investing activities	277.5	(4,471.7)
Cash flows from financing activities:
Proceeds from borrowings with maturity greater than three months	127.6	1,036.0
Repayments of borrowings with maturity greater than three months	(1,062.1)	(147.3)
Net repayments of other short-term borrowings	(6.2)	(0.3)
Stock-based compensation transactions	24.6	1.8
Dividends paid	(280.7)	(279.4)
Payments related to tax withholding for share-based compensation	(10.8)	(5.9)
Debt extinguishment costs	(9.1)	0.0
Redemption of equity instruments	0.0	(47.4)
Other	(6.8)	(7.0)
Net cash (utilized) provided by financing activities	(1,223.5)	550.5
Effect of exchange rate changes on cash	(8.1)	(21.1)
Net decrease in cash, cash equivalents and restricted cash	(268.5)	(3,448.0)
Cash, cash equivalents and restricted cash at beginning of year	1,449.7	4,580.4
Cash, cash equivalents and restricted cash at end of period	1,181.2	1,132.4
Cash paid during the period for:
Interest	123.7	123.6
Income taxes	$ 124.1	$ 66.0

Consolidated Statements of Shareholder's Equity and Redeemable Noncontrolling Interests - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock	Noncontrolling Interests
Beginning balance at Dec. 29, 2019	$ 2,995.5	$ 110.1	$ 2,275.7	$ 4,354.6	$ (184.2)	$ (3,560.7)	$ 0.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Noncontrolling interests related to acquisition of Entertainment One Ltd.	38.6						38.6
Net earnings attributable to Hasbro, Inc.	117.3			117.3
Net earnings (loss) attributable to noncontrolling interests	2.1						2.1
Other comprehensive earnings (loss)	(96.1)				(96.1)
Stock-based compensation transactions	(4.1)		(4.6)			0.5
Buyout of noncontrolling interest	0.6		0.6
Stock-based compensation expense	40.0		39.7			0.3
Dividends declared	(279.5)			(279.5)
Distributions paid to noncontrolling owners and other foreign exchange	(5.9)						(5.9)
Ending balance at Sep. 27, 2020	2,808.4	110.1	2,311.4	4,192.4	(280.3)	(3,559.9)	34.7
Beginning balance at Dec. 29, 2019	0.0
Increase (Decrease) in Temporary Equity [Roll Forward]
Noncontrolling interests related to acquisition of Entertainment One Ltd.	26.2
Net earnings (loss) attributable to noncontrolling interests	(0.1)
Distributions paid to noncontrolling owners and other foreign exchange	(3.2)
Ending balance at Sep. 27, 2020	22.9
Beginning balance at Jun. 28, 2020	2,642.1	110.1	2,297.3	4,064.7	(308.1)	(3,560.0)	38.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings attributable to Hasbro, Inc.	220.9			220.9
Net earnings (loss) attributable to noncontrolling interests	(0.9)						(0.9)
Other comprehensive earnings (loss)	27.8				27.8
Stock-based compensation transactions	(0.3)		(0.3)			0.1
Buyout of noncontrolling interest	0.6		0.6
Stock-based compensation expense	13.9		13.9
Dividends declared	(93.2)			(93.2)
Distributions paid to noncontrolling owners and other foreign exchange	(2.6)						(2.6)
Ending balance at Sep. 27, 2020	2,808.4	110.1	2,311.4	4,192.4	(280.3)	(3,559.9)	34.7
Beginning balance at Jun. 28, 2020	24.1
Increase (Decrease) in Temporary Equity [Roll Forward]
Distributions paid to noncontrolling owners and other foreign exchange	(1.2)
Ending balance at Sep. 27, 2020	22.9
Beginning balance at Dec. 27, 2020	2,936.7	110.1	2,329.1	4,204.2	(195.0)	(3,551.7)	40.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings attributable to Hasbro, Inc.	346.5			346.5
Net earnings (loss) attributable to noncontrolling interests	2.4						2.4
Other comprehensive earnings (loss)	(13.6)				(13.6)
Stock-based compensation transactions	13.8		4.2			9.6
Stock-based compensation expense	56.2		55.1			1.1
Dividends declared	(281.1)			(281.1)
Distributions paid to noncontrolling owners and other foreign exchange	(3.7)		0.5				(4.2)
Ending balance at Sep. 26, 2021	3,057.2	110.1	2,388.9	4,269.6	(208.6)	(3,541.0)	38.2
Beginning balance at Dec. 27, 2020	24.4
Increase (Decrease) in Temporary Equity [Roll Forward]
Net earnings (loss) attributable to noncontrolling interests	1.6
Distributions paid to noncontrolling owners and other foreign exchange	(3.1)
Ending balance at Sep. 26, 2021	22.9
Beginning balance at Jun. 27, 2021	2,890.4	110.1	2,361.2	4,110.3	(183.5)	(3,547.6)	39.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings attributable to Hasbro, Inc.	253.2			253.2
Net earnings (loss) attributable to noncontrolling interests	0.4						0.4
Other comprehensive earnings (loss)	(25.1)				(25.1)
Stock-based compensation transactions	14.0		7.4			6.6
Stock-based compensation expense	19.1		19.1
Dividends declared	(93.9)			(93.9)
Distributions paid to noncontrolling owners and other foreign exchange	(0.9)		1.2				(2.1)
Ending balance at Sep. 26, 2021	3,057.2	$ 110.1	$ 2,388.9	$ 4,269.6	$ (208.6)	$ (3,541.0)	$ 38.2
Beginning balance at Jun. 27, 2021	24.5
Increase (Decrease) in Temporary Equity [Roll Forward]
Net earnings (loss) attributable to noncontrolling interests	1.3
Distributions paid to noncontrolling owners and other foreign exchange	(2.9)
Ending balance at Sep. 26, 2021	$ 22.9

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 26, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation In the opinion of management, the accompanying unaudited interim consolidated financial statements contain all normal and recurring adjustments necessary to present fairly the consolidated financial position of Hasbro, Inc. and all majority-owned subsidiaries ("Hasbro" or the "Company") as of September 26, 2021 and September 27, 2020, and the results of its operations and cash flows and shareholders' equity for the periods then ended in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and notes thereto. Actual results could differ from those estimates. The quarters ended September 26, 2021 and September 27, 2020 were each 13-week periods. The nine-month periods ended September 26, 2021 and September 27, 2020 were each 39-week periods. The results of operations for the quarter ended September 26, 2021 are not necessarily indicative of results to be expected for the full year 2021, nor were those of the comparable 2020 period representative of those actually experienced for the full year 2020. Segment Realignment Beginning with the first quarter of 2021, the Company realigned its financial reporting segments and business units, in order to align its reportable segments more closely with its current business structure. Reclassifications of certain prior year financial information has been made to conform to the current-year presentation. None of the changes impact the Company's previously reported consolidated net revenue, operating profits (losses), net earnings (losses) or net earnings (losses) per share. See Note 14 for more information on the Company’s 2021 segment realignment. Legal Settlement During the first quarter of 2021, the Company realized a gain of $26.7 million from a legal settlement related to a dispute associated with historical Entertainment One Ltd. ("eOne"). The gain is included in other income, net within the Company's consolidated financial statements, included in Part I of this Form 10-Q. Significant Accounting Policies The Company's significant accounting policies are summarized in Note 1 to the consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 27, 2020 ("2020 Form 10-K"). These consolidated financial statements have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). Certain information and disclosures normally included in the consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. The Company filed with the SEC audited consolidated financial statements for the fiscal year ended December 27, 2020 in its 2020 Form 10-K, which includes all such information and disclosures and, accordingly, should be read in conjunction with the financial information included herein. Recently Adopted Accounting Standards In August 2018, the FASB issued Accounting Standards Update No. 2018-14 (ASU 2018-14) Compensation – Retirement Benefits – Defined Benefit Plans – General (Subtopic 715-20)- Disclosure Framework – Changes to the Disclosure Requirements for Defined Benefit Plans. The amendments in this update modify the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. For public companies, this standard is effective for annual reporting periods beginning after December 15, 2020, and early adoption is permitted. The Company adopted the standard in the first quarter of 2021 and the adoption of the standard did not have a material impact on its consolidated financial statements. In December 2019, the FASB issued Accounting Standards Update No. 2019-12 (ASU 2019-12), Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The amendments in this update remove certain exceptions for performing intra-period tax allocations, recognizing deferred taxes for investments, and calculating income taxes in interim periods. The guidance also simplifies the accounting for franchise taxes, transactions that result in a step-up in the tax basis of goodwill, and the effect of enacted changes in tax laws or rates in interim periods. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020 and early adoption is permitted. The Company adopted the standard in the first quarter of 2021 and the adoption of the standard did not have a material impact on its consolidated financial statements. Issued Accounting Pronouncements In March of 2020, the FASB issued Accounting Standards Update No. 2020-04 (ASU 2020-04) Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments in this update provide optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions, for a limited period of time, to ease the potential burden of recognizing the effects of reference rate reform on financial reporting. The amendments in this update apply to contracts, hedging relationships and other transactions that reference the London Inter-Bank Offered Rate ("LIBOR") or another reference rate expected to be discontinued due to the global transition away from LIBOR and certain other interbank offered rates. An entity may elect to apply the amendments provided by this update beginning March 12, 2020 through December 31, 2022. The Company does not currently expect the change from LIBOR to an alternate rate to have a material impact on its consolidated financial statements, and is continuing to evaluate the standard's potential impact to its consolidated financial statements.

Revenue Recognition

9 Months Ended

Sep. 26, 2021

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue is recognized when control of the promised goods or content is transferred to the customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for transferring those goods or content. The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance, and collectability of consideration is probable.

Contract Assets and Liabilities

Within our Consumer Products and Entertainment segments the Company may receive royalty payments from licensees in advance of the licensees’ subsequent sales to their customers, or in advance of the Company’s performance obligation being satisfied. In addition, the Company may receive payments from its digital gaming business in advance of the recognition of the revenues. The Company defers revenues on these advanced payments until its performance obligation is satisfied and records the aggregate deferred revenues as contract liabilities. The current portion of contract liabilities was recorded within Accrued Liabilities and the long-term portion was recorded as Other Non-current Liabilities in the Company’s consolidated balance sheets. The Company records contract assets in the case of (1) minimum guarantees, which are recognized ratably over the term of the respective license period, being recognized in advance of contractual invoicing, and (2) film and television distribution revenue recorded for content delivered but for which payment will occur over the license term. The current portion of contract assets was recorded in Prepaid Expenses and Other Current Assets, respectively, and the long-term portion was recorded as Other Long-Term Assets.

At September 26, 2021, September 27, 2020 and December 27, 2020 the Company had the following contract assets and liabilities in its consolidated balance sheets:


	September 26, 2021		September 27, 2020		December 27, 2020
Assets
Contract assets - current	$	263.3	$	271.8	$	284.4
Contract assets - long term	108.1		84.9		77.0
Total	$	371.4	$	356.7	$	361.4

Liabilities
Contract liabilities - current	$	147.0	$	147.6	$	161.0
Contract liabilities - long term	9.7		17.9		18.2
Total	$	156.7	$	165.5	$	179.2

For the nine months ended September 26, 2021, the Company collected $35.0 million of the contract assets and recognized $88.9 million of contract liabilities that were included in the December 27, 2020 balances.

Unsatisfied performance obligations

Unsatisfied performance obligations relate primarily to in-production television content to be delivered in the future under existing agreements with partnering content providers such as broadcasters, distributors, television networks and subscription video on demand services. As of September 26, 2021, unrecognized revenue attributable to unsatisfied performance obligations expected to be recognized in the future were $456.0 million. Of this amount, we expect to recognize $195.5 million in the remainder of 2021, $252.7 million in 2022, $4.3 million in 2023 and $3.5 million in 2024. These amounts include only fixed considerations.

Disaggregation of revenues

The Company disaggregates its revenues from contracts with customers by reportable segment: Consumer Products, Entertainment, and Wizards of the Coast and Digital Gaming. The Company further disaggregates revenues within its Consumer Products segment by major geographic region: North America, Europe, Latin America, and Asia Pacific; and within its Entertainment segment by category: Film & TV, Family Brands, and Other. Finally, the Company disaggregates its revenues by brand portfolio into five brand categories: Franchise Brands, Partner Brands, Hasbro Gaming, Emerging Brands, and TV/Film/Entertainment. We believe these collectively depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. See Note 14 for further information.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Topic 606
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
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-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

Business Combination

9 Months Ended

Sep. 26, 2021

Business Combination and Asset Acquisition [Abstract]

Business Combination

On December 30, 2019, the Company completed its acquisition of eOne, a global independent studio that specializes in the development, acquisition, production, financing, distribution and sales of entertainment content. The aggregate purchase price of $4.6 billion was comprised of $3.8 billion of cash consideration for shares outstanding and $0.8 billion related to the redemption of eOne's outstanding senior secured notes and the payoff of eOne's revolving credit facility. The Company financed the acquisition with proceeds from the following debt and equity financings: (1) the issuance of senior unsecured notes in an aggregate principal amount of $2.4 billion in November 2019, (2) the issuance of 10.6 million shares of common stock at a public offering price of $95.00 per share in November 2019 (resulting in net proceeds of $975.2 million) and (3) $1.0 billion in term loans provided by a term loan agreement, which were borrowed on the date of closing. See Note 8 for further discussion of the issuance of the senior unsecured notes and term loan agreement.

The addition of eOne accelerates the Company's brand blueprint strategy by expanding our brand portfolio with eOne's global preschool brands, adding proven TV and film expertise and executive leadership as well as by enhancing brand building capabilities and our storytelling capabilities to strengthen Hasbro brands.

eOne's results of operations and financial position have been included in the Company's consolidated financial statements and accompanying condensed footnotes since the date of the acquisition.

The acquisition was accounted for as a business combination under FASB Accounting Standards Codification Topic 805, Business Combinations (“Topic 805”). Pursuant to Topic 805, the Company allocated the eOne purchase price to tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date, December 30, 2019. The excess of the purchase price over those fair values was recorded to goodwill.

The following table summarizes the intangible assets acquired as part of the eOne Acquisition:


	Weighted Average
Intangible assets acquired	Amortization Period	Fair Value
Established brands	10 years	$	615.0
Trade names	15 years	100.0
Artist relationships	14 years	100.0
Music catalogs	12 years	120.0
Other	8 years	121.0
Total intangible assets acquired	11 years	$	1,056.0

Intangible assets consisted of intellectual property associated with established brands, eOne artist relationships, eOne music catalogs and trademarks and trade names with estimated useful lives ranging from 7 to 15 years, determined based on when the related cash flows are expected to be realized. The fair value of the intangible assets acquired was determined based on the estimated future cash flows to be generated from the acquired assets, considering assumptions related to contract renewal rates and estimated brand franchise revenue growth. eOne acquired intangible asset amortization expense for the quarter and nine months ended September 26, 2021 were $19.7 million and $66.4 million, respectively. For the quarter and nine months ended September 27, 2020, eOne acquired intangible asset amortization expense was $24.7 million and $72.3 million, respectively.

Deferred tax liabilities within other liabilities were adjusted to record the deferred tax impact of purchase price accounting adjustments, primarily related to intangible assets.

Investments in productions and content, or IIP and IIC, were valued at $564.8 million on the acquisition date, and include the fair value of completed films and television programs which have been produced by eOne or for which eOne has acquired distribution rights, as well as the fair value of films and television programs in production, pre-production and development. For films and television programs, fair values were estimated based on forecasted cash flows, discounted to present value. For titles less than 3 years old and titles in development, the content assets will be amortized using the individual film forecast method, wherein the amortization will phase to the revenues incurred. For titles over 3 years old, the estimated useful life is 10 years, and will be amortized straight-line over that period.

Goodwill of $3.2 billion represents the excess of the purchase price over the fair value of the underlying tangible and identifiable intangible assets acquired and liabilities assumed. The acquisition goodwill represents the value placed on the combined company’s brand building capabilities, our storytelling capabilities and franchise economics in TV, film and other mediums to strengthen Hasbro brands. In addition, the acquisition goodwill depicts added benefits of long-term profitable growth through in-sourcing toy and game production for the acquired preschool brands and cost-synergies, as well as future revenue growth opportunities. The goodwill recorded as part of this acquisition was included within the Entertainment and Consumer Products segments for the year ended December 27, 2020. The goodwill associated with the acquisition will not be amortized for financial reporting purposes and will not be deductible for federal tax purposes. See Note 5 for information on the Company's goodwill reallocation during the first quarter of 2021 and the goodwill impairment charge recorded in the second quarter of 2021 as a result of the sale of the eOne music business, which was completed during the third quarter of 2021.

For the quarter and nine months ended September 27, 2020, the Company incurred $5.9 million and $166.0 million, respectively, of charges related to the eOne Acquisition, which were recorded in acquisition and related costs within the Company’s Consolidated Statement of Operations. Included within the Entertainment segment results for the nine months ended September 27, 2020 were $98.5 million of acquisition and related charges. The remaining charges were included in Corporate and Other.

The acquisition and related costs for the quarter and nine months ended September 27, 2020 consisted of the following:

•Acquisition and integration costs of $4.6 million and $104.3 million for the quarter and nine months ended September 27, 2020, respectively, including, for the nine months ended September 27, 2020, $47.4 million of expense associated with the acceleration of eOne stock-based compensation and $38.2 million of advisor fees settled at the closing of the acquisition, as well as integration costs; and

•Restructuring and related costs of $1.4 million and $61.7 million for the quarter and nine months ended September 27, 2020, respectively, including severance and retention costs for the quarter and nine months ended September 27, 2020 of $1.4 million and $20.8 million, respectively, as well as $40.9 million in impairment charges for certain definite-lived intangible and production assets for the nine months ended September 27, 2020. The impairment charges of $40.9 million were driven by the change in strategy for the combined company’s entertainment assets.

Earnings Per Share

9 Months Ended

Sep. 26, 2021

Earnings Per Share [Abstract]

Earnings Per Share

Net earnings per share data for the quarters and nine months ended September 26, 2021 and September 27, 2020 were computed as follows:


	2021			2020
Quarter	Basic		Diluted	Basic		Diluted
Net earnings attributable to Hasbro, Inc.	$	253.2	253.2	$	220.9	220.9

Average shares outstanding	138.1		138.1	137.3		137.3
Effect of dilutive securities:
Options and other share-based awards	—		0.4	—		0.2
Equivalent Shares	138.1		138.5	137.3		137.5

Net earnings attributable to Hasbro, Inc. per common share	$	1.83	1.83	$	1.61	1.61


	2021			2020
Nine Months	Basic		Diluted	Basic		Diluted
Net earnings attributable to Hasbro, Inc.	$	346.5	346.5	$	117.3	117.3

Average shares outstanding	137.9		137.9	137.2		137.2
Effect of dilutive securities:
Options and other share-based awards	—		0.4	—		0.3
Equivalent Shares	137.9		138.3	137.2		137.5

Net earnings attributable to Hasbro, Inc. per common share	$	2.51	2.51	$	0.86	0.85

For the quarter and nine months ended September 26, 2021, options and restricted stock units totaling 2.1 million and 2.2 million respectively, were excluded from the calculation of diluted earnings per share because to include them would have been anti-dilutive. For the quarter and nine months ended September 27, 2020, options and restricted stock units totaling 2.9 million and 3.0 million, respectively, were excluded from the calculation of diluted earnings per share because to include them would have been anti-dilutive.

Goodwill

9 Months Ended

Sep. 26, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

During the first quarter of 2021, the Company realigned its financial reporting structure creating the following three principal reportable segments: Consumer Products, Wizards of the Coast and Digital Gaming and Entertainment. In our realignment, some, but not all, of our reporting units were changed. As a result of these changes, the Company reallocated its goodwill among the revised reporting units based on the change in relative fair values of the respective reporting units.


	Consumer Products		Wizards of the Coast and Digital Gaming	Entertainment	Total
2021
Balance at December 27, 2020	$	1,385.7	53.1	2,252.9	$	3,691.7
Goodwill allocation	199.4		254.2	(453.6)	—
Foreign exchange translation	(0.1)		0.2	(0.6)	(0.5)
Impairment during the period	—		—	(101.8)	(101.8)
Goodwill associated with the disposal of business	—		—	(169.2)	(169.2)
Balance at September 26, 2021	$	1,585.0	307.5	1,527.7	$	3,420.2

In conjunction with the goodwill reallocation described above, during the first quarter of 2021, the Company performed an impairment test of goodwill balances held by the reporting units impacted by the segment realignment. The reporting units were tested as of December 28, 2020 and included our Europe, Asia Pacific, Global Consumer Products Licensing, Wizards of the Coast and Family Brands reporting units. Based on the results of the goodwill assessment, we determined that the fair values of each of these reporting units exceeded their carrying values, and as such, we concluded that there was no indication of goodwill impairment for these reporting units as of December 28, 2020.During the second quarter of 2021, the Company entered into a definitive agreement to sell the Entertainment One Music business ("eOne Music") for an aggregate sales price of $385.0 million, subject to certain closing adjustments related to working capital and net debt. Based on the value of the net assets held by eOne Music, which included goodwill and intangible assets allocated to eOne Music as part of the eOne acquisition, the Company recorded a pre-tax non-cash goodwill impairment charge of $101.8 million, during the second quarter of 2021, within Loss on Disposal of Business in the Consolidated Statements of Operations, and within the Entertainment segment. On June 29, 2021, during the Company's fiscal third quarter, the eOne Music sale was completed and associated goodwill and intangible assets were removed from the consolidated financial statements.

Other Comprehensive Earnings (Loss)

9 Months Ended

Sep. 26, 2021

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Other Comprehensive Earnings (Loss)

Components of other comprehensive earnings (loss) are presented within the consolidated statements of comprehensive earnings (loss). The following table presents the related tax effects on changes in other comprehensive earnings (loss) for the quarters and nine months ended September 26, 2021 and September 27, 2020.


	Quarter Ended				Nine Months Ended
	September 26, 2021		September 27, 2020		September 26, 2021		September 27, 2020

Other comprehensive earnings (loss), tax effect:
Tax benefit (expense) on unrealized holding gains (losses)	$	0.1	$	0.2	$	—	(0.4)
Tax (expense) benefit on cash flow hedging activities	(0.3)		0.3		(0.7)		(5.5)
Tax benefit on foreign currency translation adjustments	—		—		—		8.4

Reclassifications to earnings, tax effect:
Tax expense (benefit) on cash flow hedging activities	(0.3)		1.9		(0.3)		3.4

Amortization of unrecognized pension and postretirement amounts	(0.1)		(0.1)		(0.2)		(0.2)

Total tax effect on other comprehensive earnings (loss)	$	(0.6)	$	2.3	$	(1.2)	5.7

Changes in the components of accumulated other comprehensive earnings (loss) for the nine months ended September 26, 2021 and September 27, 2020 are as follows:


	Pension and Postretirement Amounts		Gains (Losses) on Derivative Instruments	Unrealized Holding Gains (Losses) on Available- for-Sale Securities	Foreign Currency Translation Adjustments	Total Accumulated Other Comprehensive Loss
2021
Balance at December 27, 2020	$	(40.7)	(22.1)	0.4	(132.6)	(195.0)
Current period other comprehensive earnings (loss)	0.6		9.5	(0.1)	(23.6)	(13.6)
Balance at September 26, 2021	$	(40.1)	(12.6)	0.3	(156.2)	(208.6)

2020
Balance at December 29, 2019	$	(36.1)	(5.2)	(0.2)	(142.6)	(184.2)

Current period other comprehensive earnings (loss)	0.8		(0.1)	1.3	(98.1)	(96.1)
Balance at September 27, 2020	$	(35.3)	(5.3)	1.1	(240.8)	(280.3)

Gains (Losses) on Derivative Instruments

At September 26, 2021, the Company had remaining net deferred gains on foreign currency forward contracts, net of tax, of $3.2 million in accumulated other comprehensive earnings (loss) ("AOCE"). These instruments hedge payments related to inventory purchased in the third quarter of 2021 or forecasted to be purchased during the remainder of 2021 through 2022, intercompany expenses expected to be paid or received during 2021, television and movie production costs paid in 2021, and cash receipts for sales made at the end of the third quarter of 2021 or forecasted to be made in the remainder of 2021 and, to a lesser extent, 2022 through 2023. These amounts will be reclassified into the consolidated statements of operations upon the sale of the related inventory or recognition of the related sales or expenses.

In addition to foreign currency forward contracts, the Company entered into hedging contracts on future interest payments related to the 3.15% Notes, that were repaid in full in the aggregate principal amount of $300.0 million during the first quarter of 2021 (See Note 8), and the 5.10% Notes due 2044. At the date of debt issuance, these contracts were terminated and the fair value on the date of settlement was deferred in AOCE and is being amortized to interest expense over the life of the related notes using the effective interest rate method. At September 26, 2021, deferred losses, net of tax of $15.7 million related to these instruments remained in AOCE. For the quarters ended September 26, 2021 and September 27, 2020, previously deferred losses of $0.2 million and $0.5 million, respectively, were reclassified from AOCE to net earnings. For the nine-month periods ended September 26, 2021 and September 27, 2020, previously deferred losses of $1.0 million and $1.3 million, respectively, were reclassified from AOCE to net earnings.

Of the amount included in AOCE at September 26, 2021, the Company expects net gains of approximately $2.2 million to be reclassified to the consolidated statements of operations within the next 12 months. However, the amount ultimately realized in earnings is dependent on the fair value of the hedging instruments on the settlement dates.

Accrued Liabilities

9 Months Ended

Sep. 26, 2021

Payables and Accruals [Abstract]

Accrued Liabilities

Components of accrued liabilities for the periods ended September 26, 2021, September 27, 2020 and December 27, 2020 were as follows:


	September 26, 2021		September 27, 2020		December 27, 2020
Participations and residuals	$	272.9	$	309.2	$	295.6
Royalties	203.9		206.6		229.2
Deferred revenue	147.0		147.6		161.0
Payroll and management incentives	156.1		89.2		132.4
Dividends	93.8		93.2		93.4
Other taxes	69.9		70.6		81.9
Advertising	148.5		131.5		58.6
Severance	33.0		41.7		49.7
Lease liability - Current	43.9		42.8		45.0
Freight	72.6		35.8		32.3
Accrued income taxes	55.3		18.4		29.7

Other	366.8		283.5		329.8
Total accrued liabilities	$	1,663.7	$	1,470.1	$	1,538.6

Financial Instruments

9 Months Ended

Sep. 26, 2021

Debt Disclosure [Abstract]

Financial Instruments

The Company's financial instruments include cash and cash equivalents, accounts receivable, short-term borrowings, accounts payable and certain accrued liabilities. At September 26, 2021, September 27, 2020 and December 27, 2020, the carrying cost of these instruments approximated their fair value. The Company's financial instruments at September 26, 2021, September 27, 2020 and December 27, 2020 also include certain assets and liabilities measured at fair value (see Notes 11 and 12) as well as long-term borrowings. The carrying costs, which are equal to the outstanding principal amounts, and fair values of the Company's long-term borrowings as of September 26, 2021, September 27, 2020 and December 27, 2020 are as follows:


	September 26, 2021			September 27, 2020			December 27, 2020
	Carrying Cost		Fair Value	Carrying Cost		Fair Value	Carrying Cost		Fair Value
3.90% Notes Due 2029	$	900.0	1,001.7	$	900.0	947.5	$	900.0	1,011.2
3.55% Notes Due 2026	675.0		737.2	675.0		716.1	675.0		752.7
3.00% Notes Due 2024	500.0		529.1	500.0		531.9	500.0		540.6
6.35% Notes Due 2040	500.0		702.3	500.0		587.4	500.0		636.5
3.50% Notes Due 2027	500.0		546.2	500.0		518.8	500.0		544.5
2.60% Notes Due 2022 (1)	—		—	300.0		310.7	300.0		311.5
5.10% Notes Due 2044	300.0		375.0	300.0		313.4	300.0		338.1
3.15% Notes Due 2021 (2)	—		—	300.0		303.5	300.0		302.3
6.60% Debentures Due 2028	109.9		137.2	109.9		130.3	109.9		137.4
Variable % Notes Due December 30, 2022 (3)	—		—	400.0		400.0	300.0		300.0
Variable % Notes Due December 30, 2024 (4)	505.0		505.0	577.5		577.5	577.5		577.5
Production Financing Facilities	204.7		204.7	121.4		121.4	165.5		165.5
Total long-term debt	$	4,194.6	4,738.4	$	5,183.8	5,458.5	$	5,127.9	5,617.8
Less: Deferred debt expenses	29.6		—	36.8		—	35.3		—
Less: Current portion	187.6		—	369.3		—	432.6		—
Long-term debt	$	3,977.4	4,738.4	$	4,777.8	5,458.5	$	4,660.0	5,617.8

(1) During the third quarter of 2021, the Company repaid in full its 2.60% Notes, in the aggregate principal amount of $300.0 million due in November 2022.

(2) During the first quarter of 2021, the Company repaid in full its 3.15% Notes, in the aggregate principal amount of $300.0 million due in May 2021.

(3) During the second quarter of 2021, the Company repaid $250.0 million of the Variable % Notes Due December 30, 2022 and during the third quarter of 2021, the Company repaid the remaining balance of $50.0 million of the Variable % Notes Due December 30, 2022.

(4) During the third quarter of 2021, the Company repaid $50.0 million of the Variable % Notes Due December 30, 2024.

In November 2019, in conjunction with the Company's acquisition of eOne, the Company issued an aggregate of $2.4 billion of senior unsecured debt securities (the "Notes") consisting of the following tranches: $300.0 million of notes due 2022 (the "2022 Notes") that bear interest at a fixed rate of 2.60%, $500.0 million of notes due 2024 (the "2024 Notes") that bear interest at a fixed rate of 3.00%, $675.0 million of notes due 2026 (the "2026 Notes") that bear interest at a fixed rate of 3.55% and $900.0 million of notes due 2029 (the "2029 Notes") that bear interest at a fixed rate of 3.90%. Net proceeds from the issuance of the Notes, after deduction of $20.0 million of underwriting discount and fees, totaled $2.4 billion. These costs are being amortized over the life of the Notes outstanding, which range from five years to ten years from the date of issuance. During the third quarter of 2021, the Company repaid in full the $300.0 million of 2022 Notes and recorded $9.1 million of debt extinguishment costs within other expense (income) in the Consolidated Statements of Operations.

The Notes bear interest at the stated rates but may be subject to upward adjustment if the credit rating of the Company is reduced by Moody's or Standard & Poors. The adjustment can be from 0.25% to 2.00% based on the extent of the ratings decrease. The Company may redeem the Notes at its option at the greater of the principal amount of the Notes or the present

value of the remaining scheduled payments discounted using the effective interest rate on applicable U.S. Treasury bills at the time of repurchase, plus (1) 25 basis points (in the case of the 2024 Notes); (2) 30 basis points (in the case of the 2026 Notes); and (3) 35 basis points (in the case of the 2029 Notes). In addition, on and after October 19, 2024 for the 2024 Notes, September 19, 2026 for the 2026 Notes and August 19, 2029 for the 2029 Notes, such series of Notes will be redeemable, in whole at any time or in part from time to time, at the Company's option at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus any accrued and unpaid interest.

In September 2019, the Company entered into a $1.0 billion Term Loan Agreement (the "Term Loan Agreement”) with Bank of America N.A. (“Bank of America”), as administrative agent, and certain financial institutions as lenders, pursuant to which such lenders committed to provide, contingent upon the completion of the eOne Acquisition and certain other customary conditions to funding, (1) a three-year senior unsecured term loan facility in an aggregate principal amount of $400.0 million (the “Three-Year Tranche”) and (2) a five-year senior unsecured term loan facility in an aggregate principal amount of $600.0 million (the “Five-Year Tranche” and together with the Three-Year Tranche, the “Term Loan Facilities”). The full amount of the Term Loan Facilities were drawn down on December 30, 2019, the closing date of the eOne Acquisition. During 2020, the Company made $122.5 million in payments towards the $1.0 billion term loan notes consisting of $100.0 million on the principal balance of the Three-Year Tranche loans in addition to the required quarterly principal amortization payments totaling $22.5 million on the Five-Year Tranche loans. During the first nine months of 2021, the Company paid $372.5 million toward the $1.0 billion term loan notes consisting of the remaining $300.0 million of the principal balance of the Three-Year Tranche loans as well as $50.0 million principal balance and principal amortization payments totaling $22.5 million on the Five-Year Tranche loans.

Loans under the remaining Five-Year Tranche bear interest at the Company’s option, at either the Eurocurrency Rate or the Base Rate, plus a per annum applicable rate that fluctuates between 100.0 basis points and 187.5 basis points, in the case of loans priced at the Eurocurrency Rate, and between 0.0 basis points and 87.5 basis points, in the case of loans priced at the Base Rate, in each case, based upon the non-credit enhanced, senior unsecured long-term debt ratings of the Company by Fitch Ratings Inc., Moody’s Investor Service, Inc. and S&P Global Rankings, subject to certain provisions taking into account potential differences in ratings issued by the relevant rating agencies or a lack of ratings issued by such rating agencies. Loans under the Five-Year Tranche require principal amortization payments that are payable in equal quarterly installments of 5.0% per annum of the original principal amount thereof for each of the first two years after funding, increasing to 10.0% per annum of the original principal amount thereof for each subsequent year. The Term Loan Agreement contains affirmative and negative covenants typical of this type of facility, including: (i) restrictions on the Company’s and its domestic subsidiaries’ ability to allow liens on their assets, (ii) restrictions on the incurrence of indebtedness, (iii) restrictions on the Company’s and certain of its subsidiaries’ ability to engage in certain mergers, (iv) the requirement that the Company maintain a Consolidated Interest Coverage Ratio of no less than 3.00:1.00 as of the end of any fiscal quarter and (v) the requirement that the Company maintain a Consolidated Total Leverage Ratio of no more than, depending on the gross proceeds of equity securities issued after the effective date of the acquisition of eOne, 5.65:1.00 or 5.40:1.00 for each of the first, second and third fiscal quarters ended after the funding of the Term Loan Facilities, with periodic step downs to 3.50:1.00 for the fiscal quarter ending December 31, 2023 and thereafter.

The Company may redeem its 5.10% notes due in 2044 (the "2044 Notes") at its option, at the greater of the principal amount of the notes or the present value of the remaining scheduled payments, discounted using the effective interest rate on applicable U.S. Treasury bills at the time of repurchase.

Current portion of long-term debt at September 26, 2021 of $187.6 million, as shown on the consolidated balance sheet, represents the current portion of required quarterly principal amortization payments for the Term Loan Facilities and production financing facilities. All of the Company’s other long-term borrowings have contractual maturities that occur subsequent to the third quarter of 2024.

The fair values of the Company's long-term debt are considered Level 3 fair values (see Note 11 for further discussion of the fair value hierarchy) and are measured using the discounted future cash flows method. In addition to the debt terms, the valuation methodology includes an assumption of a discount rate that approximates the current yield on a similar debt security. This assumption is considered an unobservable input in that it reflects the Company's own assumptions about the inputs that market participants would use in pricing the asset or liability. The Company believes that this is the best information available for use in the fair value measurement.

Production Financing

In addition to the Company's financial instruments, the Company uses production financing to fund certain of its television and film productions which are typically arranged on an individual production basis by special purpose production subsidiaries.

Production financing facilities are secured by the assets and future revenue of the individual production subsidiaries and are non-recourse to the Company's assets.

Production financing facilities typically have maturities of less than two years, while the titles are in production, and are repaid once delivered and all credits, broadcaster pre-sales and international sales have been received. The production financing facilities as of September 26, 2021, September 27, 2020 and December 27, 2020 are as follows:


	September 26, 2021		September 27, 2020		December 27, 2020
Production financing held by production subsidiaries	$	204.7	$	121.4	$	165.5
Other loans (1)	—		9.0		5.4



Total	$	204.7	$	130.4	$	170.9

Production financing included in the consolidated balance sheet as:
Non-current	$	47.0	$	82.2	$	62.9
Current	157.7		39.2		102.6
Total	$	204.7	$	121.4	$	165.5

(1) Other loans consist of production related demand loans, and are recorded within Short-term Borrowings in the Company's consolidated balance sheets.

Interest is charged at bank prime rate plus a margin based on the risk of the respective production. The weighted average interest rate on all production financing as of September 26, 2021 was 2.9%.

The Company has Canadian dollar and U.S. dollar production credit facilities with various banks. The carrying amounts are denominated in the following currencies:


	Canadian Dollars		U.S. Dollars		Total
As of September 26, 2021	$	37.0	$	167.7	$	204.7

The following table represents the movements in production financing and other related loans during the first nine months of 2021:


	Production Financing		Other Loans		Total
December 27, 2020	$	165.5	$	5.4	$	170.9
Drawdowns	127.6		16.7		144.3
Repayments	(89.6)		(22.9)		(112.5)
Foreign exchange differences	1.2		0.8		2.0
Balance at September 26, 2021	$	204.7	$	—	$	204.7

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Investments in Productions and Investments in Acquired Content Rights

9 Months Ended

Sep. 26, 2021

Other Industries [Abstract]

Investment in Productions and Investments in Acquired Content Rights

Investments in Productions and Investments in Acquired Content RightsInvestments in productions and investments in acquired content rights are predominantly monetized on a title-by-title basis and are recorded within other assets in the Company's consolidated balance sheets, to the extent they are considered recoverable against future revenues. These amounts are being amortized to program cost amortization using a model that reflects the consumption of the asset as it is released through various channels including broadcast licenses, theatrical release and home entertainment. Amounts capitalized are reviewed periodically on an individual film basis and any portion of the unamortized amount that appears not to be recoverable from future net revenues is expensed as part of program cost amortization during the period the loss becomes evident.

The Company's unamortized investments in productions and investments in acquired content rights consisted of the following at September 26, 2021, September 27, 2020, and December 27, 2020:


	September 26, 2021		September 27, 2020		December 27, 2020
Film and TV Programming
Released, net of amortization	$	512.6	$	477.3	$	428.0
Completed and not released	20.1		18.1		17.3
In production	202.1		51.0		185.5
Pre-production	91.9		41.1		67.6
	826.7		587.5		698.4






Other Programming
Released, net of amortization	3.9		11.5		13.7
Completed and not released	0.4		3.4		2.1
In production	5.9		9.1		5.4
Pre-production	2.5		8.0		7.6
	12.7		32.0		28.8

Total Program Investments	$	839.4	$	619.5	$	727.2

The Company recorded $396.1 million of program cost amortization related to released programming in the nine months ended September 26, 2021, consisting of the following:


	Investment in Production		Investment in Content		Other		Total
Program cost amortization	$	334.6	$	59.9	$	1.6	$	396.1

Income Taxes	9 Months Ended
Income Taxes	Sep. 26, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company and its subsidiaries file income tax returns in the United States and various state and international jurisdictions. In the normal course of business, the Company is regularly audited by U.S. federal, state and local, and international tax authorities in various tax jurisdictions. Our effective tax rate ("ETR") from continuing operations was 29.0% for the nine months ended September 26, 2021 and 35.0% for the nine months ended September 27, 2020. The following items caused the year-to-date ETR to be significantly different from the prior year ETR: •during the nine months ended September 26, 2021, the Company recorded a net discrete tax expense of $8.8 million. The expense is primarily associated with (i) the revaluation of net deferred tax liabilities as a result of the United Kingdom's ("UK") enactment of Finance Act 2021 during the second quarter, which increases the UK corporate income tax rate from 19% to 25% as of April 1, 2023; (ii) a one-time tax charge related to an ongoing tax audit; (iii) a release of a valuation allowance on net operating losses that offsets income received from a one-time legal settlement; and (iv) certain tax benefits, including the reversal of uncertain tax positions and operational tax planning; •the year-to-date ETR also includes a goodwill impairment charge on the sale of the eOne Music business, recorded during the second quarter of 2021 for which there is no corresponding tax benefit; and •during the nine months ended September 27, 2020, the Company recorded a net discrete tax benefit of $5.3 million primarily associated with (i) a tax benefit resulting from the eOne acquisition and related costs incurred; (ii) a tax expense related to the revaluation of net deferred tax liabilities as a result of the UK's enactment during the third quarter of Finance Act 2020 which maintained the corporate income tax rate at 19%; and (iii) a tax expense related to an increase of uncertain tax positions. In May 2019, a public referendum held in Switzerland approved the Swiss Federal Act on Tax Reform and AHV Financing ("TRAF") proposals previously approved by the Swiss Parliament. The Swiss tax reform measures were effective on January 1, 2020. Changes in tax reform include the abolishment of preferential tax regimes for holding companies, domicile companies and mixed companies at the cantonal level. The enacted changes in Swiss federal tax were not material to the Company’s financial statements. Swiss cantonal tax was enacted in December 2019. The Company is still assessing the transitional provision options it may elect; however, the legislation is not expected to have a material effect on the Company’s financial statements. The Company is no longer subject to U.S. federal income tax examinations for years before 2012. With few exceptions, the Company is no longer subject to U.S. state or local and non-U.S. income tax examinations by tax authorities in its major jurisdictions for years before 2015. The Company is currently under income tax examination by the Internal Revenue Service and in several U.S. state and local and non-U.S. jurisdictions.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 30
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-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
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-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Fair Value of Financial Instruments

9 Months Ended

Sep. 26, 2021

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

The Company measures certain financial instruments at fair value. The fair value hierarchy consists of three levels: Level 1 fair values are based on quoted market prices in active markets for identical assets or liabilities that the entity has the ability to access; Level 2 fair values are those based on quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities; and Level 3 fair values are based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Accounting standards permit entities to measure many financial instruments and certain other items at fair value and establish presentation and disclosure requirements designed to facilitate comparisons between entities that choose different measurement attributes for similar assets and liabilities. The Company elected the fair value option for certain available-for-sale investments using net asset value per share and during 2020, the Company liquidated these investments as part of its global cash management strategy. At September 27, 2020, prior to their liquidation, these investments totaled $13.4 million and were included in prepaid expenses and other current assets within the Company's consolidated balance sheet. The Company recorded a net gain of $1.1 million and a net loss of $0.1 million, respectively, on these investments in other (income) expense, net, related to the change in fair value of such instruments net for the quarter and nine months ended September 27, 2020.

At September 26, 2021, September 27, 2020 and December 27, 2020, the Company had the following assets and liabilities measured at fair value in its consolidated balance sheets (excluding assets for which the fair value is measured using net asset value per share):


	Fair Value Measurements Using:
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
September 26, 2021
Assets:
Available-for-sale securities	$	2.0	2.0	—	—
Derivatives	9.8		—	9.8	—
Total assets	$	11.8	2.0	9.8	—

Liabilities:
Derivatives	$	1.7	—	1.7	—
Option agreement	21.8		—	—	21.8
Total liabilities	$	23.5	—	1.7	21.8

September 27, 2020
Assets:
Available-for-sale securities	$	3.7	3.7	—	—
Derivatives	15.7		—	15.7	—
Total assets	$	19.4	3.7	15.7	—

Liabilities:
Derivatives	$	0.4	—	0.4	—
Option agreement	20.6		—	—	20.6
Total liabilities	$	21.0	—	0.4	20.6

December 27, 2020
Assets:
Available-for-sale securities	$	2.1	2.1	—	—
Derivatives	4.8		—	4.8	—
Total assets	$	6.9	2.1	4.8	—

Liabilities:
Derivatives	$	12.7	—	12.7	—
Option agreement	20.6		—	—	20.6
Total Liabilities	$	33.3	—	12.7	20.6

Available-for-sale securities include equity securities of one company quoted on an active public market.

The Company's derivatives consist of foreign currency forward and option contracts. The Company uses current forward rates of the respective foreign currencies to measure the fair value of these contracts. The Company’s option agreement relates to an equity method investment in Discovery Family Channel ("Discovery"). The option agreement is included in other liabilities at September 26, 2021, September 27, 2020 and December 27, 2020, and is valued using an option pricing model based on the fair value of the related investment. Inputs used in the option pricing model include the volatility and fair value of the underlying company which are considered unobservable inputs as they reflect the Company's own assumptions about the inputs that market participants would use in pricing the asset or liability. The Company believes that this is the best information available for use in the fair value measurement. There were no changes in these valuation techniques during the quarter ended September 26, 2021.

The following is a reconciliation of the beginning and ending balances of the fair value measurements of the Company's financial instruments which use significant unobservable inputs (Level 3):


	2021		2020
Balance at beginning of year	$	(20.6)	$	(22.1)
Gain from change in fair value	(1.2)		1.5
Balance at end of third quarter	$	(21.8)	$	(20.6)

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Derivative Financial Instruments

9 Months Ended

Sep. 26, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

Hasbro uses foreign currency forward contracts to mitigate the impact of currency rate fluctuations on firmly committed and projected future foreign currency transactions. These over-the-counter contracts, which hedge future currency requirements related to purchases of inventory, product sales, television and film production cost and production financing loans (see Note 8) as well as other cross-border transactions not denominated in the functional currency of the business unit, are primarily denominated in United States and Hong Kong dollars, and Euros. All contracts are entered into with a number of counterparties, all of which are major financial institutions. The Company believes that a default by a single counterparty would not have a material adverse effect on the financial condition of the Company. Hasbro does not enter into derivative financial instruments for speculative purposes.

Cash Flow Hedges

All of the Company's designated foreign currency forward contracts and zero-cost collar options are considered to be cash flow hedges. These instruments hedge a portion of the Company's currency requirements associated with anticipated inventory purchases, product sales, certain production financing loans and other cross-border transactions in 2021 through 2022.

At September 26, 2021, September 27, 2020 and December 27, 2020, the notional amounts and fair values of the Company's foreign currency forward contracts designated as cash flow hedging instruments were as follows:


	September 26, 2021			September 27, 2020			December 27, 2020
Hedged transaction	Notional Amount		Fair Value	Notional Amount		Fair Value	Notional Amount		Fair Value
Inventory purchases	$	261.8	6.0	$	315.9	9.1	$	316.8	(10.0)
Sales	164.5		(0.5)	111.8		3.9	111.6		1.4
Production financing and other	261.4		0.3	115.2		2.2	89.9		0.3
Total	$	687.7	5.8	$	542.9	15.2	$	518.3	(8.3)

The Company has a master agreement with each of its counterparties that allows for the netting of outstanding forward contracts. The fair values of the Company's foreign currency forward contracts designated as cash flow hedges are recorded in the consolidated balance sheets at September 26, 2021, September 27, 2020 and December 27, 2020 as follows:


	September 26, 2021		September 27, 2020		December 27, 2020
Prepaid expenses and other current assets
Unrealized gains	$	8.6	$	13.4	$	2.3
Unrealized losses	(3.7)		(1.7)		(1.6)
Net unrealized gains	$	4.9	$	11.6	$	0.7

Other assets
Unrealized gains	$	2.0	$	4.2	$	1.1
Unrealized losses	(0.1)		(0.2)		—
Net unrealized gains	$	1.9	$	4.0	$	1.1

Accrued liabilities
Unrealized gains	$	0.3	$	0.7	$	3.0
Unrealized losses	(1.3)		(1.0)		(12.9)
Net unrealized losses	$	(1.0)	$	(0.3)	$	(9.9)

Other liabilities
Unrealized gains	$	—	$	—	$	—
Unrealized losses	—		(0.1)		(0.2)
Net unrealized losses	$	—	$	(0.1)	$	(0.2)

Net gains on cash flow hedging activities have been reclassified from other comprehensive earnings (loss) to net earnings for the quarters and nine months ended September 26, 2021 and September 27, 2020 as follows:


	Quarter Ended				Nine Months Ended
	September 26, 2021		September 27, 2020		September 26, 2021		September 27, 2020
Statements of Operations Classification
Cost of sales	$	(2.0)	$	7.1	$	(4.4)	16.7
Net revenues	0.1		1.2		1.4		2.4
Other	0.8		0.9		2.0		1.4
Net realized gains	$	(1.1)	$	9.2	$	(1.0)	20.5

Undesignated Hedges

The Company also enters into foreign currency forward contracts to minimize the impact of changes in the fair value of intercompany loans due to foreign currency changes. The Company does not use hedge accounting for these contracts as changes in the fair values of these contracts are substantially offset by changes in the fair value of the intercompany loans. Additionally, to manage transactional exposure to fair value movements on certain monetary assets and liabilities denominated in foreign currencies, the Company has implemented a balance sheet hedging program. The Company does not use hedge accounting for these contracts as changes in the fair values of these contracts are offset by changes in the fair value of the balance sheet items. As of September 26, 2021, September 27, 2020 and December 27, 2020 the total notional amounts of the Company's undesignated derivative instruments were $663.2 million, $538.9 million and $590.6 million, respectively.

At September 26, 2021, September 27, 2020 and December 27, 2020, the fair values of the Company's undesignated derivative financial instruments were recorded in the consolidated balance sheets as follows:


	September 26, 2021		September 27, 2020		December 27, 2020
Prepaid expenses and other current assets
Unrealized gains	$	6.5	$	3.3	$	3.5
Unrealized losses	(3.4)		(3.2)		(0.5)
Net unrealized gains	$	3.1	$	0.1	$	3.0

Accrued liabilities
Unrealized gains	$	—	$	—	$	—
Unrealized losses	(0.8)		—		(2.6)
Net unrealized losses	$	(0.8)	$	—	$	(2.6)






Total unrealized gains (losses), net	$	2.3	$	0.1	$	0.4

The Company recorded net gains of $3.6 million and $2.9 million on these instruments to other (income) expense, net for the quarter and nine months ended September 26, 2021, respectively, and net losses of $(6.9) million and $(20.1) million for the quarter and nine months ended September 27, 2020, respectively, relating to the change in fair value of such derivatives, substantially offsetting gains and losses from the change in fair value of intercompany loans to which the contracts relate.

For additional information related to the Company's derivative financial instruments (see Notes 6 and 11).

Leases

9 Months Ended

Sep. 26, 2021

Leases [Abstract]

Leases

The Company occupies offices and uses certain equipment under various operating lease arrangements. The Company has no finance leases. These leases have remaining lease terms of 1 to 18 years, some of which include options to extend lease terms or options to terminate current lease terms at certain times, subject to notice requirements set out in the lease agreement. Payments under certain of the lease agreements may be subject to adjustment based on a consumer price index or other inflationary indices. The lease liability for such lease agreements as of the adoption date, was based on fixed payments as of the adoption date. Any adjustments to these payments based on the related indices will be recorded to expense as incurred. Leases with an expected term of 12 months or less are not capitalized. Lease expense under such leases is recorded straight line over the life of the lease. The Company capitalizes non-lease components for equipment leases, but expenses non-lease components as incurred for real estate leases.

For the quarter and nine months ended September 26, 2021, the Company's operating lease and other rental expenses were $21.8 million and $66.0 million, respectively. For the quarter and nine months ended September 27, 2020, the Company's operating lease and other rental expenses were $22.3 million and $67.6 million, respectively. Expense related to short-term leases (expected terms less than 12 months) and variable lease payments was not material in the quarter or nine months ended September 26, 2021 or September 27, 2020.

Information related to the Company’s leases for the quarter and nine months ended September 26, 2021 and September 27, 2020 are as follows:


	Quarter Ended						Nine Months Ended
	September 26, 2021			September 27, 2020			September 26, 2021			September 27, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	13.7		$	13.2		$	39.9		38.8
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	10.4		$	2.1		$	21.8		102.5

Weighted Average Remaining Lease Term
Operating leases	5.6 years			6.2 years			5.6 years			6.2 years
Weighted Average Discount Rate
Operating leases	3.1		%	3.1		%	3.1		%	3.1	%

The following is a reconciliation of future undiscounted cash flows to the operating liabilities, and the related right of use assets, included in our Consolidated Balance Sheets as of September 26, 2021:


	September 26, 2021
2021 (excluding the nine months ended September 26, 2021)	$	13.2
2022	49.8
2023	41.6
2024	29.9
2025	23.9
2026 and thereafter	49.9
Total future lease payments	208.3
Less imputed interest	25.2
Present value of future operating lease payments	183.1
Less current portion of operating lease liabilities (1)	43.9
Non-current operating lease liability (2)	139.2
Operating lease right-of-use assets, net (3)	$	165.6

(1) Included in Accrued liabilities on the consolidated balance sheets.

(2) Included in Other liabilities on the consolidated balance sheets.

(3) Included in Property, plant, and equipment on the consolidated balance sheets.

Segment Reporting

9 Months Ended

Sep. 26, 2021

Segment Reporting [Abstract]

Segment Reporting

Hasbro is a global play and entertainment company with a broad portfolio of brands and entertainment content spanning toys, games, licensed products ranging from traditional to digital, as well as film and television entertainment. In the first quarter of 2020 the Company completed its acquisition of the global independent studio, eOne. Throughout 2020, the Company successfully integrated many parts of the eOne business and started to achieve synergies as a combined company. Effective for the three months ended March 28, 2021, the Company realigned its reportable segment structure to: (1) align with changes to its business structure subsequent to the integration of eOne; and (2) reflect changes to its reporting structure and provide transparency into how operating performance is measured. The Company's three principal reportable segments are (i) Consumer Products, (ii) Wizards of the Coast and Digital Gaming, and (iii) Entertainment.

The Consumer Products segment engages in the sourcing, marketing and sales of toy and game products around the world. The Consumer Products business also promotes the Company's brands through the out-licensing of our trademarks, characters and other brand and intellectual property rights to third parties, through the sale of branded consumer products such as toys and apparel. The Wizards of the Coast and Digital Gaming business engages in the promotion of the Company's brands through the development of trading card, role-playing and digital game experiences based on Hasbro and Wizards of the Coast games. The Entertainment segment engages in the development, acquisition, production, financing, distribution and sale of world-class entertainment content including film, scripted and unscripted television, family programming, digital content and live entertainment.

The significant accounting policies of the Company's segments are the same as those referenced in Note 1.

Results shown for the quarter and nine months ended September 26, 2021 are not necessarily representative of those which may be expected for the full year 2021, nor were those of the comparable 2020 periods representative of those actually experienced for the full year 2020. Similarly, such results are not necessarily those which would be achieved were each segment an unaffiliated business enterprise.

Reclassifications of certain prior year segment results and account balances have been made to conform to the current-year presentation. None of the segment changes impact the Company's previously reported consolidated net revenue, operating profits, net earnings or net earnings per share.

On June 29, 2021, the Company completed the sale of eOne Music. The financial results of eOne Music were recorded within the Company's Entertainment segment through the date of the closing of the sale. The assets and liabilities of eOne Music were de-consolidated as of the closing date and there are no remaining carrying amounts in the Company's Consolidated Balance Sheets as of September 26, 2021. The sale of eOne Music in 2021 did not impact the Company's previously reported 2020 net revenues, operating profits, earnings, assets or liabilities.

Information by segment and a reconciliation to reported amounts for the quarters and nine months ended September 26, 2021 and September 27, 2020 are as follows:


	Quarter Ended
	September 26, 2021				September 27, 2020
Net revenues	External		Affiliate (b)		External		Affiliate (b)
Consumer Products	$	1,282.7	$	(149.6)	$	1,317.8	$	(110.1)
Wizards of the Coast and Digital Gaming	360.2		(38.0)		273.4		(23.4)
Entertainment	327.1		(13.7)		185.4		(2.2)
Corporate and Other (b)	—		201.3		—		135.7
	$	1,970.0	$	—	$	1,776.6	$	—


	Nine Months Ended
	September 26, 2021				September 27, 2020
Net revenues	External		Affiliate (b)		External		Affiliate (b)
Consumer Products	$	2,625.8	$	(316.8)	$	2,409.8	$	(268.8)
Wizards of the Coast and Digital Gaming	1,008.7		(93.1)		670.7		(56.4)
Entertainment	772.5		(40.4)		662.0		(3.9)
Corporate and Other (b)	—		450.3		—		329.1
	$	4,407.0	$	—	$	3,742.5	$	—


	Quarter Ended				Nine Months Ended
Operating profit (loss)	September 26, 2021		September 27, 2020		September 26, 2021		September 27, 2020
Consumer Products	$	210.4	$	226.2	$	260.5	$	171.2
Wizards of the Coast and Digital Gaming	159.4		141.6		462.3		311.5
Entertainment	22.4		(28.3)		(74.3)		(106.1)
Corporate and Other (b)	(24.3)		(2.9)		(56.7)		(61.1)
	$	367.9	$	336.6	$	591.8	$	315.5


Total assets	September 26, 2021		September 27, 2020		December 27, 2020
Consumer Products (a)	$	4,754.0	$	6,323.4	$	5,552.5
Wizards of the Coast and Digital Gaming	915.1		926.9		585.7
Entertainment (b)	5,570.0		6,199.7		6,003.0
Corporate and Other (b)	(1,008.7)		(2,746.8)		(1,322.9)
	$	10,230.4	$	10,703.2	$	10,818.3

(a) During the second quarter of 2021, the Company adjusted certain inter-segment balance sheet amounts which impacted the Consumer Products and Corporate and Other total asset values. These adjustments did not impact the Company's total assets.

(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.

The following table represents consolidated Consumer Products segment net revenues by major geographic region for the quarters and nine months ended September 26, 2021 and September 27, 2020:


	Quarter Ended				Nine Months Ended
	September 26, 2021		September 27, 2020		September 26, 2021		September 27, 2020
North America	$	805.0	$	830.1	$	1,559.1	$	1,434.9
Europe	304.2		316.8		669.2		615.4
Asia Pacific	75.5		78.2		208.7		197.1
Latin America	98.0		92.7		188.8		162.4
Net revenues	$	1,282.7	$	1,317.8	$	2,625.8	$	2,409.8

The following table represents consolidated Entertainment segment net revenues by category for the quarters and nine months ended September 26, 2021 and September 27, 2020:


	Quarter Ended				Nine Months Ended
	September 26, 2021		September 27, 2020		September 26, 2021		September 27, 2020
Film and TV	$	255.4	$	141.6	$	586.1	$	514.5
Family Brands	60.5		14.2		105.4		58.9
Music and Other	11.2		29.6		81.0		88.6
Net revenues	$	327.1	$	185.4	$	772.5	$	662.0

The following table presents consolidated net revenues by brand and entertainment portfolio for the quarters and nine months ended September 26, 2021 and September 27, 2020:


	Quarter Ended				Nine Months Ended
	September 26, 2021		September 27, 2020		September 26, 2021		September 27, 2020
Franchise Brands	$	882.0	$	807.5	$	2,023.4	$	1,580.9
Partner Brands	366.7		409.2		766.7		729.8
Hasbro Gaming (1)	281.9		239.2		565.3		516.3
Emerging Brands	177.5		155.0		399.2		325.1
TV/Film/Entertainment	261.9		165.7		652.4		590.4
Total	$	1,970.0	$	1,776.6	$	4,407.0	$	3,742.5

(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 which are reported within Franchise Brands, totaled $658.6 million and $1,543.3 million for the quarter and nine months ended September 26, 2021, respectively. For the quarter and nine months ended September 27, 2020, total gaming revenues were $543.1 million and $1,202.6 million, respectively.

- 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://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

eOne Music Sale

9 Months Ended

Sep. 26, 2021

Discontinued Operations and Disposal Groups [Abstract]

eOne Music Sale

On April 25, 2021, the Company entered into a definitive agreement to sell eOne Music for an aggregate sales price of $385.0 million, subject to certain closing adjustments related to working capital and net debt.

On June 29, 2021, the Company completed the sale of eOne Music for net proceeds of $397.0 million, including the sales price of $385.0 million and $12.0 million of closing adjustments related to working capital and net debt calculations. The final proceeds are subject to further adjustments upon completion of closing working capital, which will be recognized in the fourth quarter of 2021. The Company acquired eOne Music through its acquisition of eOne in December 2019 ("eOne Acquisition"). Based on the value of the net assets held by eOne Music, which included goodwill and intangible assets allocated to eOne Music as part of the eOne Acquisition, the Company recorded a pre-tax non-cash goodwill impairment charge of $101.8 million within Loss on Disposal of Business on the Consolidated Statements of Operations for the nine months ended September 26, 2021. The Company also recorded pre-tax cash transaction expenses of $9.5 million within Selling, Distribution and Administration expenses on the Consolidated Statements of Operations during the second quarter of 2021. The impairment

charge was recorded within the Entertainment segment and the transaction costs were recorded within the Corporate and Other segment.

The operations of eOne Music did not meet the criteria to be presented as discontinued operations in accordance with Accounting Standards Update No. 2014-08 (ASU 2014-08) Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360) - Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity and eOne Music did not represent an individually significant component of the Company’s business. Income from operations before income taxes, attributable to eOne Music, was recorded to the Company's Consolidated Statements of Operations, within the Entertainment segment through the sale transaction closing date. Assets of $479.5 million and liabilities of $76.3 million, attributable to eOne Music, were de-consolidated as of the closing date and, as of September 26, 2021, there are no remaining carrying amounts in the Company's Consolidated Balance Sheets.

The following table presents the carrying amounts of the major classes of eOne Music assets and liabilities sold on June 29, 2021:


	June 29, 2021
Cash and Cash Equivalents	$	18.2
Goodwill and Other Intangible Assets	410.3
Prepaid Expenses	31.0
Other Assets	20.0
Total Assets	479.5

Accrued Liabilities	24.4
Deferred Taxes	36.9
Other Liabilities	15.0
Total Liabilities	$	76.3

Restructuring Actions

9 Months Ended

Sep. 26, 2021

Restructuring Charges [Abstract]

Restructuring Actions

During 2018, the Company announced a comprehensive restructuring plan which consisted of re-designing its go-to market strategy and re-shaping its organization to become a more responsive, innovative and digitally-driven play and entertainment company. As part of this process the Company took certain restructuring actions which continued through 2019. The actions primarily included headcount reduction aimed at right-sizing the Company’s cost-structure and giving it the ability to add required new talent in the future. In the first nine months of 2020, the Company continued to streamline its commercial organization, and recorded severance of $11.5 million associated with these cost-savings initiatives.

During 2020, in connection with the eOne Acquisition, the Company recorded $32.5 million of severance and other employee charges related to the integration of eOne. For the quarter and nine months ended September 27, 2020, the related charge was $1.4 million and $20.8 million, respectively, which was recorded within acquisition and related costs on the Consolidated Statements of Operations, and reported within Corporate and Eliminations.

The detail of activity related to the programs for the nine months ended September 26, 2021 is as follows:


	2018 Restructuring & 2020 Commercial Program		eOne Integration Program	Other	Total
Remaining amounts to be paid as of December 27, 2020	$	17.3	16.9	0.8	$	35.0
Payments made in the first nine months of 2021	(6.3)		(8.8)	—	(15.1)
Remaining amounts as of September 26, 2021	$	11.0	8.1	0.8	$	19.9

Subsequent Event	9 Months Ended
Subsequent Event	Sep. 26, 2021
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event Leadership Matters On October 12, 2021, we announced the passing of our leader and longtime Chairman and Chief Executive Officer, Brian D. Goldner. The Company’s Board of Directors (the "Board") has appointed Richard S. Stoddart to serve as Hasbro’s interim CEO while the Board completes its process for appointing a permanent CEO. Mr. Stoddart has served as a member of the Board since 2014, most recently as the Board’s Lead Independent Director and is the former President and Chief Executive Officer of global marketing execution firm InnerWorkings, Inc., serving in that role from 2017 until 2020 when InnerWorkings, Inc. was acquired. In addition to the appointment of Mr. Stoddart, Tracy A. Leinbach has been appointed to serve as Chair of the Board. Mrs. Leinbach has been a member of the Board since 2008. Under Mr. Goldner’s employment agreement, we expect to incur additional compensation expense in the fourth quarter of 2021 due to the accelerated vesting of certain equity awards as a result of Mr. Goldner's passing. A description of Mr. Goldner’s employment agreement can be found in the Company’s proxy statement filed with the SEC on April 1, 2021 and filed as an exhibit to our 2020 Form 10-K. In future periods, we may incur additional compensation related expenses in connection with our succession plans and the appointment of a permanent CEO.

Basis of Presentation (Policies)	9 Months Ended
Basis of Presentation (Policies)	Sep. 26, 2021
Accounting Policies [Abstract]
Basis of Presentation	In the opinion of management, the accompanying unaudited interim consolidated financial statements contain all normal and recurring adjustments necessary to present fairly the consolidated financial position of Hasbro, Inc. and all majority-owned subsidiaries ("Hasbro" or the "Company") as of September 26, 2021 and September 27, 2020, and the results of its operations and cash flows and shareholders' equity for the periods then ended in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and notes thereto. Actual results could differ from those estimates.
Recently Adopted Accounting Standards and Issued Accounting Pronouncements	Recently Adopted Accounting Standards In August 2018, the FASB issued Accounting Standards Update No. 2018-14 (ASU 2018-14) Compensation – Retirement Benefits – Defined Benefit Plans – General (Subtopic 715-20)- Disclosure Framework – Changes to the Disclosure Requirements for Defined Benefit Plans. The amendments in this update modify the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. For public companies, this standard is effective for annual reporting periods beginning after December 15, 2020, and early adoption is permitted. The Company adopted the standard in the first quarter of 2021 and the adoption of the standard did not have a material impact on its consolidated financial statements. In December 2019, the FASB issued Accounting Standards Update No. 2019-12 (ASU 2019-12), Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The amendments in this update remove certain exceptions for performing intra-period tax allocations, recognizing deferred taxes for investments, and calculating income taxes in interim periods. The guidance also simplifies the accounting for franchise taxes, transactions that result in a step-up in the tax basis of goodwill, and the effect of enacted changes in tax laws or rates in interim periods. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020 and early adoption is permitted. The Company adopted the standard in the first quarter of 2021 and the adoption of the standard did not have a material impact on its consolidated financial statements. Issued Accounting Pronouncements In March of 2020, the FASB issued Accounting Standards Update No. 2020-04 (ASU 2020-04) Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments in this update provide optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions, for a limited period of time, to ease the potential burden of recognizing the effects of reference rate reform on financial reporting. The amendments in this update apply to contracts, hedging relationships and other transactions that reference the London Inter-Bank Offered Rate ("LIBOR") or another reference rate expected to be discontinued due to the global transition away from LIBOR and certain other interbank offered rates. An entity may elect to apply the amendments provided by this update beginning March 12, 2020 through December 31, 2022. The Company does not currently expect the change from LIBOR to an alternate rate to have a material impact on its consolidated financial statements, and is continuing to evaluate the standard's potential impact to its consolidated financial statements.
Revenue Recognition	Revenue Recognition Revenue is recognized when control of the promised goods or content is transferred to the customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for transferring those goods or content. The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance, and collectability of consideration is probable. Contract Assets and Liabilities Within our Consumer Products and Entertainment segments the Company may receive royalty payments from licensees in advance of the licensees’ subsequent sales to their customers, or in advance of the Company’s performance obligation being satisfied. In addition, the Company may receive payments from its digital gaming business in advance of the recognition of the revenues. The Company defers revenues on these advanced payments until its performance obligation is satisfied and records the aggregate deferred revenues as contract liabilities. The current portion of contract liabilities was recorded within Accrued Liabilities and the long-term portion was recorded as Other Non-current Liabilities in the Company’s consolidated balance sheets. The Company records contract assets in the case of (1) minimum guarantees, which are recognized ratably over the term of the respective license period, being recognized in advance of contractual invoicing, and (2) film and television distribution revenue recorded for content delivered but for which payment will occur over the license term. The current portion of contract assets was recorded in Prepaid Expenses and Other Current Assets, respectively, and the long-term portion was recorded as Other Long-Term Assets. Disaggregation of revenuesThe Company disaggregates its revenues from contracts with customers by reportable segment: Consumer Products, Entertainment, and Wizards of the Coast and Digital Gaming. The Company further disaggregates revenues within its Consumer Products segment by major geographic region: North America, Europe, Latin America, and Asia Pacific; and within its Entertainment segment by category: Film & TV, Family Brands, and Other. Finally, the Company disaggregates its revenues by brand portfolio into five brand categories: Franchise Brands, Partner Brands, Hasbro Gaming, Emerging Brands, and TV/Film/Entertainment. We believe these collectively depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.
Leases	The Company occupies offices and uses certain equipment under various operating lease arrangements. The Company has no finance leases. These leases have remaining lease terms of 1 to 18 years, some of which include options to extend lease terms or options to terminate current lease terms at certain times, subject to notice requirements set out in the lease agreement. Payments under certain of the lease agreements may be subject to adjustment based on a consumer price index or other inflationary indices. The lease liability for such lease agreements as of the adoption date, was based on fixed payments as of the adoption date. Any adjustments to these payments based on the related indices will be recorded to expense as incurred. Leases with an expected term of 12 months or less are not capitalized. Lease expense under such leases is recorded straight line over the life of the lease. The Company capitalizes non-lease components for equipment leases, but expenses non-lease components as incurred for real estate leases.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

Revenue Recognition (Tables)

9 Months Ended

Sep. 26, 2021

Revenue from Contract with Customer [Abstract]

Schedule of Contract Assets and Liabilities

At September 26, 2021, September 27, 2020 and December 27, 2020 the Company had the following contract assets and liabilities in its consolidated balance sheets:


	September 26, 2021		September 27, 2020		December 27, 2020
Assets
Contract assets - current	$	263.3	$	271.8	$	284.4
Contract assets - long term	108.1		84.9		77.0
Total	$	371.4	$	356.7	$	361.4

Liabilities
Contract liabilities - current	$	147.0	$	147.6	$	161.0
Contract liabilities - long term	9.7		17.9		18.2
Total	$	156.7	$	165.5	$	179.2

Business Combination (Tables)

9 Months Ended

Sep. 26, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Acquired Finite-Lived Intangible Assets

The following table summarizes the intangible assets acquired as part of the eOne Acquisition:


	Weighted Average
Intangible assets acquired	Amortization Period	Fair Value
Established brands	10 years	$	615.0
Trade names	15 years	100.0
Artist relationships	14 years	100.0
Music catalogs	12 years	120.0
Other	8 years	121.0
Total intangible assets acquired	11 years	$	1,056.0

Earnings Per Share (Tables)

9 Months Ended

Sep. 26, 2021

Earnings Per Share [Abstract]

Schedule of Earnings Per Share

Net earnings per share data for the quarters and nine months ended September 26, 2021 and September 27, 2020 were computed as follows:


	2021			2020
Quarter	Basic		Diluted	Basic		Diluted
Net earnings attributable to Hasbro, Inc.	$	253.2	253.2	$	220.9	220.9

Average shares outstanding	138.1		138.1	137.3		137.3
Effect of dilutive securities:
Options and other share-based awards	—		0.4	—		0.2
Equivalent Shares	138.1		138.5	137.3		137.5

Net earnings attributable to Hasbro, Inc. per common share	$	1.83	1.83	$	1.61	1.61


	2021			2020
Nine Months	Basic		Diluted	Basic		Diluted
Net earnings attributable to Hasbro, Inc.	$	346.5	346.5	$	117.3	117.3

Average shares outstanding	137.9		137.9	137.2		137.2
Effect of dilutive securities:
Options and other share-based awards	—		0.4	—		0.3
Equivalent Shares	137.9		138.3	137.2		137.5

Net earnings attributable to Hasbro, Inc. per common share	$	2.51	2.51	$	0.86	0.85

Goodwill (Tables)

9 Months Ended

Sep. 26, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill


	Consumer Products		Wizards of the Coast and Digital Gaming	Entertainment	Total
2021
Balance at December 27, 2020	$	1,385.7	53.1	2,252.9	$	3,691.7
Goodwill allocation	199.4		254.2	(453.6)	—
Foreign exchange translation	(0.1)		0.2	(0.6)	(0.5)
Impairment during the period	—		—	(101.8)	(101.8)
Goodwill associated with the disposal of business	—		—	(169.2)	(169.2)
Balance at September 26, 2021	$	1,585.0	307.5	1,527.7	$	3,420.2

Other Comprehensive Earnings (Loss) (Tables)

9 Months Ended

Sep. 26, 2021

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Schedule of Other Comprehensive Income (Loss), Tax Effect

The following table presents the related tax effects on changes in other comprehensive earnings (loss) for the quarters and nine months ended September 26, 2021 and September 27, 2020.


	Quarter Ended				Nine Months Ended
	September 26, 2021		September 27, 2020		September 26, 2021		September 27, 2020

Other comprehensive earnings (loss), tax effect:
Tax benefit (expense) on unrealized holding gains (losses)	$	0.1	$	0.2	$	—	(0.4)
Tax (expense) benefit on cash flow hedging activities	(0.3)		0.3		(0.7)		(5.5)
Tax benefit on foreign currency translation adjustments	—		—		—		8.4

Reclassifications to earnings, tax effect:
Tax expense (benefit) on cash flow hedging activities	(0.3)		1.9		(0.3)		3.4

Amortization of unrecognized pension and postretirement amounts	(0.1)		(0.1)		(0.2)		(0.2)

Total tax effect on other comprehensive earnings (loss)	$	(0.6)	$	2.3	$	(1.2)	5.7

Schedule of Accumulated Other Comprehensive Earnings (Loss)

Changes in the components of accumulated other comprehensive earnings (loss) for the nine months ended September 26, 2021 and September 27, 2020 are as follows:


	Pension and Postretirement Amounts		Gains (Losses) on Derivative Instruments	Unrealized Holding Gains (Losses) on Available- for-Sale Securities	Foreign Currency Translation Adjustments	Total Accumulated Other Comprehensive Loss
2021
Balance at December 27, 2020	$	(40.7)	(22.1)	0.4	(132.6)	(195.0)
Current period other comprehensive earnings (loss)	0.6		9.5	(0.1)	(23.6)	(13.6)
Balance at September 26, 2021	$	(40.1)	(12.6)	0.3	(156.2)	(208.6)

2020
Balance at December 29, 2019	$	(36.1)	(5.2)	(0.2)	(142.6)	(184.2)

Current period other comprehensive earnings (loss)	0.8		(0.1)	1.3	(98.1)	(96.1)
Balance at September 27, 2020	$	(35.3)	(5.3)	1.1	(240.8)	(280.3)

Accrued Liabilities (Tables)

9 Months Ended

Sep. 26, 2021

Payables and Accruals [Abstract]

Schedule of Accrued Liabilities

Components of accrued liabilities for the periods ended September 26, 2021, September 27, 2020 and December 27, 2020 were as follows:


	September 26, 2021		September 27, 2020		December 27, 2020
Participations and residuals	$	272.9	$	309.2	$	295.6
Royalties	203.9		206.6		229.2
Deferred revenue	147.0		147.6		161.0
Payroll and management incentives	156.1		89.2		132.4
Dividends	93.8		93.2		93.4
Other taxes	69.9		70.6		81.9
Advertising	148.5		131.5		58.6
Severance	33.0		41.7		49.7
Lease liability - Current	43.9		42.8		45.0
Freight	72.6		35.8		32.3
Accrued income taxes	55.3		18.4		29.7

Other	366.8		283.5		329.8
Total accrued liabilities	$	1,663.7	$	1,470.1	$	1,538.6

Financial Instruments (Tables)

9 Months Ended

Sep. 26, 2021

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The carrying costs, which are equal to the outstanding principal amounts, and fair values of the Company's long-term borrowings as of September 26, 2021, September 27, 2020 and December 27, 2020 are as follows:


	September 26, 2021			September 27, 2020			December 27, 2020
	Carrying Cost		Fair Value	Carrying Cost		Fair Value	Carrying Cost		Fair Value
3.90% Notes Due 2029	$	900.0	1,001.7	$	900.0	947.5	$	900.0	1,011.2
3.55% Notes Due 2026	675.0		737.2	675.0		716.1	675.0		752.7
3.00% Notes Due 2024	500.0		529.1	500.0		531.9	500.0		540.6
6.35% Notes Due 2040	500.0		702.3	500.0		587.4	500.0		636.5
3.50% Notes Due 2027	500.0		546.2	500.0		518.8	500.0		544.5
2.60% Notes Due 2022 (1)	—		—	300.0		310.7	300.0		311.5
5.10% Notes Due 2044	300.0		375.0	300.0		313.4	300.0		338.1
3.15% Notes Due 2021 (2)	—		—	300.0		303.5	300.0		302.3
6.60% Debentures Due 2028	109.9		137.2	109.9		130.3	109.9		137.4
Variable % Notes Due December 30, 2022 (3)	—		—	400.0		400.0	300.0		300.0
Variable % Notes Due December 30, 2024 (4)	505.0		505.0	577.5		577.5	577.5		577.5
Production Financing Facilities	204.7		204.7	121.4		121.4	165.5		165.5
Total long-term debt	$	4,194.6	4,738.4	$	5,183.8	5,458.5	$	5,127.9	5,617.8
Less: Deferred debt expenses	29.6		—	36.8		—	35.3		—
Less: Current portion	187.6		—	369.3		—	432.6		—
Long-term debt	$	3,977.4	4,738.4	$	4,777.8	5,458.5	$	4,660.0	5,617.8

(1) During the third quarter of 2021, the Company repaid in full its 2.60% Notes, in the aggregate principal amount of $300.0 million due in November 2022.

(2) During the first quarter of 2021, the Company repaid in full its 3.15% Notes, in the aggregate principal amount of $300.0 million due in May 2021.

(4) During the third quarter of 2021, the Company repaid $50.0 million of the Variable % Notes Due December 30, 2024.

Production Financing Loans

The production financing facilities as of September 26, 2021, September 27, 2020 and December 27, 2020 are as follows:


	September 26, 2021		September 27, 2020		December 27, 2020
Production financing held by production subsidiaries	$	204.7	$	121.4	$	165.5
Other loans (1)	—		9.0		5.4



Total	$	204.7	$	130.4	$	170.9

Production financing included in the consolidated balance sheet as:
Non-current	$	47.0	$	82.2	$	62.9
Current	157.7		39.2		102.6
Total	$	204.7	$	121.4	$	165.5

(1) Other loans consist of production related demand loans, and are recorded within Short-term Borrowings in the Company's consolidated balance sheets.

Carrying Amount of Currencies for Production Credit Facilities

The carrying amounts are denominated in the following currencies:


	Canadian Dollars		U.S. Dollars		Total
As of September 26, 2021	$	37.0	$	167.7	$	204.7

Schedule of Production and Financing Loan and Other Loans

The following table represents the movements in production financing and other related loans during the first nine months of 2021:


	Production Financing		Other Loans		Total
December 27, 2020	$	165.5	$	5.4	$	170.9
Drawdowns	127.6		16.7		144.3
Repayments	(89.6)		(22.9)		(112.5)
Foreign exchange differences	1.2		0.8		2.0
Balance at September 26, 2021	$	204.7	$	—	$	204.7

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Investments in Productions and Investments in Acquired Content Rights (Tables)

9 Months Ended

Sep. 26, 2021

Other Industries [Abstract]

Schedule of Program Production Costs

The Company's unamortized investments in productions and investments in acquired content rights consisted of the following at September 26, 2021, September 27, 2020, and December 27, 2020:


	September 26, 2021		September 27, 2020		December 27, 2020
Film and TV Programming
Released, net of amortization	$	512.6	$	477.3	$	428.0
Completed and not released	20.1		18.1		17.3
In production	202.1		51.0		185.5
Pre-production	91.9		41.1		67.6
	826.7		587.5		698.4






Other Programming
Released, net of amortization	3.9		11.5		13.7
Completed and not released	0.4		3.4		2.1
In production	5.9		9.1		5.4
Pre-production	2.5		8.0		7.6
	12.7		32.0		28.8

Total Program Investments	$	839.4	$	619.5	$	727.2

Program Cost Amortization

The Company recorded $396.1 million of program cost amortization related to released programming in the nine months ended September 26, 2021, consisting of the following:


	Investment in Production		Investment in Content		Other		Total
Program cost amortization	$	334.6	$	59.9	$	1.6	$	396.1

Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 26, 2021

Fair Value Disclosures [Abstract]

Fair Value Hierarchy


	Fair Value Measurements Using:
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
September 26, 2021
Assets:
Available-for-sale securities	$	2.0	2.0	—	—
Derivatives	9.8		—	9.8	—
Total assets	$	11.8	2.0	9.8	—

Liabilities:
Derivatives	$	1.7	—	1.7	—
Option agreement	21.8		—	—	21.8
Total liabilities	$	23.5	—	1.7	21.8

September 27, 2020
Assets:
Available-for-sale securities	$	3.7	3.7	—	—
Derivatives	15.7		—	15.7	—
Total assets	$	19.4	3.7	15.7	—

Liabilities:
Derivatives	$	0.4	—	0.4	—
Option agreement	20.6		—	—	20.6
Total liabilities	$	21.0	—	0.4	20.6

December 27, 2020
Assets:
Available-for-sale securities	$	2.1	2.1	—	—
Derivatives	4.8		—	4.8	—
Total assets	$	6.9	2.1	4.8	—

Liabilities:
Derivatives	$	12.7	—	12.7	—
Option agreement	20.6		—	—	20.6
Total Liabilities	$	33.3	—	12.7	20.6

Reconciliation of Level 3 Fair Value

The following is a reconciliation of the beginning and ending balances of the fair value measurements of the Company's financial instruments which use significant unobservable inputs (Level 3):


	2021		2020
Balance at beginning of year	$	(20.6)	$	(22.1)
Gain from change in fair value	(1.2)		1.5
Balance at end of third quarter	$	(21.8)	$	(20.6)

Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 26, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Cash Flow Hedging Instruments


	September 26, 2021			September 27, 2020			December 27, 2020
Hedged transaction	Notional Amount		Fair Value	Notional Amount		Fair Value	Notional Amount		Fair Value
Inventory purchases	$	261.8	6.0	$	315.9	9.1	$	316.8	(10.0)
Sales	164.5		(0.5)	111.8		3.9	111.6		1.4
Production financing and other	261.4		0.3	115.2		2.2	89.9		0.3
Total	$	687.7	5.8	$	542.9	15.2	$	518.3	(8.3)

Schedule of Foreign Currency Forward Contracts Designated as Cash Flow Hedges

The fair values of the Company's foreign currency forward contracts designated as cash flow hedges are recorded in the consolidated balance sheets at September 26, 2021, September 27, 2020 and December 27, 2020 as follows:


	September 26, 2021		September 27, 2020		December 27, 2020
Prepaid expenses and other current assets
Unrealized gains	$	8.6	$	13.4	$	2.3
Unrealized losses	(3.7)		(1.7)		(1.6)
Net unrealized gains	$	4.9	$	11.6	$	0.7

Other assets
Unrealized gains	$	2.0	$	4.2	$	1.1
Unrealized losses	(0.1)		(0.2)		—
Net unrealized gains	$	1.9	$	4.0	$	1.1

Accrued liabilities
Unrealized gains	$	0.3	$	0.7	$	3.0
Unrealized losses	(1.3)		(1.0)		(12.9)
Net unrealized losses	$	(1.0)	$	(0.3)	$	(9.9)

Other liabilities
Unrealized gains	$	—	$	—	$	—
Unrealized losses	—		(0.1)		(0.2)
Net unrealized losses	$	—	$	(0.1)	$	(0.2)

Schedule of Net Gains (Losses) on Cash Flow Hedges Activities


	Quarter Ended				Nine Months Ended
	September 26, 2021		September 27, 2020		September 26, 2021		September 27, 2020
Statements of Operations Classification
Cost of sales	$	(2.0)	$	7.1	$	(4.4)	16.7
Net revenues	0.1		1.2		1.4		2.4
Other	0.8		0.9		2.0		1.4
Net realized gains	$	(1.1)	$	9.2	$	(1.0)	20.5

Fair Values of Undesignated Derivative Financial Instruments


	September 26, 2021		September 27, 2020		December 27, 2020
Prepaid expenses and other current assets
Unrealized gains	$	6.5	$	3.3	$	3.5
Unrealized losses	(3.4)		(3.2)		(0.5)
Net unrealized gains	$	3.1	$	0.1	$	3.0

Accrued liabilities
Unrealized gains	$	—	$	—	$	—
Unrealized losses	(0.8)		—		(2.6)
Net unrealized losses	$	(0.8)	$	—	$	(2.6)






Total unrealized gains (losses), net	$	2.3	$	0.1	$	0.4

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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+ Details

Leases (Tables)

9 Months Ended

Sep. 26, 2021

Leases [Abstract]

Schedule of Information Related to Leases

Information related to the Company’s leases for the quarter and nine months ended September 26, 2021 and September 27, 2020 are as follows:


	Quarter Ended						Nine Months Ended
	September 26, 2021			September 27, 2020			September 26, 2021			September 27, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	13.7		$	13.2		$	39.9		38.8
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	10.4		$	2.1		$	21.8		102.5

Weighted Average Remaining Lease Term
Operating leases	5.6 years			6.2 years			5.6 years			6.2 years
Weighted Average Discount Rate
Operating leases	3.1		%	3.1		%	3.1		%	3.1	%

Reconciliation of Future Undiscounted Cash Flows


	September 26, 2021
2021 (excluding the nine months ended September 26, 2021)	$	13.2
2022	49.8
2023	41.6
2024	29.9
2025	23.9
2026 and thereafter	49.9
Total future lease payments	208.3
Less imputed interest	25.2
Present value of future operating lease payments	183.1
Less current portion of operating lease liabilities (1)	43.9
Non-current operating lease liability (2)	139.2
Operating lease right-of-use assets, net (3)	$	165.6

(1) Included in Accrued liabilities on the consolidated balance sheets.

(2) Included in Other liabilities on the consolidated balance sheets.

(3) Included in Property, plant, and equipment on the consolidated balance sheets.

Segment Reporting (Tables)

9 Months Ended

Sep. 26, 2021

Segment Reporting [Abstract]

Information by Segment and Reconciliation to Reported Amounts

Information by segment and a reconciliation to reported amounts for the quarters and nine months ended September 26, 2021 and September 27, 2020 are as follows:


	Quarter Ended
	September 26, 2021				September 27, 2020
Net revenues	External		Affiliate (b)		External		Affiliate (b)
Consumer Products	$	1,282.7	$	(149.6)	$	1,317.8	$	(110.1)
Wizards of the Coast and Digital Gaming	360.2		(38.0)		273.4		(23.4)
Entertainment	327.1		(13.7)		185.4		(2.2)
Corporate and Other (b)	—		201.3		—		135.7
	$	1,970.0	$	—	$	1,776.6	$	—


	Nine Months Ended
	September 26, 2021				September 27, 2020
Net revenues	External		Affiliate (b)		External		Affiliate (b)
Consumer Products	$	2,625.8	$	(316.8)	$	2,409.8	$	(268.8)
Wizards of the Coast and Digital Gaming	1,008.7		(93.1)		670.7		(56.4)
Entertainment	772.5		(40.4)		662.0		(3.9)
Corporate and Other (b)	—		450.3		—		329.1
	$	4,407.0	$	—	$	3,742.5	$	—

Operating Profit (Loss) by Segment


	Quarter Ended				Nine Months Ended
Operating profit (loss)	September 26, 2021		September 27, 2020		September 26, 2021		September 27, 2020
Consumer Products	$	210.4	$	226.2	$	260.5	$	171.2
Wizards of the Coast and Digital Gaming	159.4		141.6		462.3		311.5
Entertainment	22.4		(28.3)		(74.3)		(106.1)
Corporate and Other (b)	(24.3)		(2.9)		(56.7)		(61.1)
	$	367.9	$	336.6	$	591.8	$	315.5

Total Assets by Segment


Total assets	September 26, 2021		September 27, 2020		December 27, 2020
Consumer Products (a)	$	4,754.0	$	6,323.4	$	5,552.5
Wizards of the Coast and Digital Gaming	915.1		926.9		585.7
Entertainment (b)	5,570.0		6,199.7		6,003.0
Corporate and Other (b)	(1,008.7)		(2,746.8)		(1,322.9)
	$	10,230.4	$	10,703.2	$	10,818.3

Schedule of Net Revenues by Major Geographic Region

The following table represents consolidated Consumer Products segment net revenues by major geographic region for the quarters and nine months ended September 26, 2021 and September 27, 2020:


	Quarter Ended				Nine Months Ended
	September 26, 2021		September 27, 2020		September 26, 2021		September 27, 2020
North America	$	805.0	$	830.1	$	1,559.1	$	1,434.9
Europe	304.2		316.8		669.2		615.4
Asia Pacific	75.5		78.2		208.7		197.1
Latin America	98.0		92.7		188.8		162.4
Net revenues	$	1,282.7	$	1,317.8	$	2,625.8	$	2,409.8

Schedules of Net Revenues by Category

The following table represents consolidated Entertainment segment net revenues by category for the quarters and nine months ended September 26, 2021 and September 27, 2020:


	Quarter Ended				Nine Months Ended
	September 26, 2021		September 27, 2020		September 26, 2021		September 27, 2020
Film and TV	$	255.4	$	141.6	$	586.1	$	514.5
Family Brands	60.5		14.2		105.4		58.9
Music and Other	11.2		29.6		81.0		88.6
Net revenues	$	327.1	$	185.4	$	772.5	$	662.0

The following table presents consolidated net revenues by brand and entertainment portfolio for the quarters and nine months ended September 26, 2021 and September 27, 2020:


	Quarter Ended				Nine Months Ended
	September 26, 2021		September 27, 2020		September 26, 2021		September 27, 2020
Franchise Brands	$	882.0	$	807.5	$	2,023.4	$	1,580.9
Partner Brands	366.7		409.2		766.7		729.8
Hasbro Gaming (1)	281.9		239.2		565.3		516.3
Emerging Brands	177.5		155.0		399.2		325.1
TV/Film/Entertainment	261.9		165.7		652.4		590.4
Total	$	1,970.0	$	1,776.6	$	4,407.0	$	3,742.5

eOne Music Sale (Tables)

9 Months Ended

Sep. 26, 2021

Discontinued Operations and Disposal Groups [Abstract]

Major Classes of Assets and Liabilities Held for Sale

The following table presents the carrying amounts of the major classes of eOne Music assets and liabilities sold on June 29, 2021:


	June 29, 2021
Cash and Cash Equivalents	$	18.2
Goodwill and Other Intangible Assets	410.3
Prepaid Expenses	31.0
Other Assets	20.0
Total Assets	479.5

Accrued Liabilities	24.4
Deferred Taxes	36.9
Other Liabilities	15.0
Total Liabilities	$	76.3

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Restructuring Actions (Tables)

9 Months Ended

Sep. 26, 2021

Restructuring Charges [Abstract]

Schedule of Restructuring and Related Costs

The detail of activity related to the programs for the nine months ended September 26, 2021 is as follows:


	2018 Restructuring & 2020 Commercial Program		eOne Integration Program	Other	Total
Remaining amounts to be paid as of December 27, 2020	$	17.3	16.9	0.8	$	35.0
Payments made in the first nine months of 2021	(6.3)		(8.8)	—	(15.1)
Remaining amounts as of September 26, 2021	$	11.0	8.1	0.8	$	19.9

Basis of Presentation (Details) $ in Millions	3 Months Ended
Basis of Presentation (Details) $ in Millions	Mar. 28, 2021 USD ($)
Accounting Policies [Abstract]
Gain from litigation settlement	$ 26.7

Revenue Recognition - Contract Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 26, 2021	Dec. 27, 2020	Sep. 27, 2020
Revenue from Contract with Customer [Abstract]
Contract assets - current	$ 263.3	$ 284.4	$ 271.8
Contract assets - long term	108.1	77.0	84.9
Total	371.4	361.4	356.7
Contract liabilities - current	147.0	161.0	147.6
Contract liabilities - long term	9.7	18.2	17.9
Total	$ 156.7	$ 179.2	$ 165.5

Revenue Recognition - Narrative (Details) $ in Millions	9 Months Ended
Revenue Recognition - Narrative (Details) $ in Millions	Sep. 26, 2021 USD ($) brand_category
Disaggregation of Revenue [Line Items]
Number of brand categories \| brand_category	5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 456.0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-09-27
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 195.5
Revenue, remaining performance obligation, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-12-27
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 252.7
Revenue, remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-12-26
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 4.3
Revenue, remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-12-25
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 3.5
Revenue, remaining performance obligation, period	1 year
eOne
Disaggregation of Revenue [Line Items]
Contract assets recognized	$ 35.0
Revenue recognized	$ 88.9

Business Combination - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions		1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 30, 2019	Nov. 30, 2019	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020	Dec. 27, 2020	Jun. 27, 2021
Business Acquisition [Line Items]
Goodwill			$ 3,420,200,000	$ 3,644,100,000	$ 3,420,200,000	$ 3,644,100,000	$ 3,691,700,000	$ 3,420,200,000
Acquisition and related costs			0	5,900,000	0	166,000,000.0
Severance expense						11,500,000
Entertainment
Business Acquisition [Line Items]
Goodwill							2,252,900,000	$ 1,527,700,000
Senior Notes
Business Acquisition [Line Items]
Aggregate principal amount		$ 2,400,000,000
eOne
Business Acquisition [Line Items]
Aggregate purchase price	$ 4,600,000,000
Cash consideration for shares outstanding	3,800,000,000
Aggregate purchase price, extinguishment of debt	800,000,000
Shares issued as consideration (in shares)		10.6
Shares issued for acquisition, value		$ 975,200,000
Amortization expense of intangibles			$ 19,700,000	24,700,000	$ 66,400,000	72,300,000
Goodwill	3,200,000,000
Integration related costs				4,600,000		104,300,000
Integration related costs, acceleration of stock-based compensation						47,400,000
Integration related costs, advisor fees						38,200,000
Restructuring and related cost				1,400,000		61,700,000
Severance expense				$ 1,400,000		20,800,000	$ 32,500,000
Asset impairments						40,900,000
eOne \| Entertainment
Business Acquisition [Line Items]
Acquisition and related costs						$ 98,500,000
eOne \| Films and Television Programs
Business Acquisition [Line Items]
Investments in productions and content	$ 564,800,000
eOne \| Titles
Business Acquisition [Line Items]
Threshold years for amortization method	3 years
eOne \| Minimum \| Trademarks and Trade Names
Business Acquisition [Line Items]
Intangible asset useful life	7 years
eOne \| Maximum \| Trademarks and Trade Names
Business Acquisition [Line Items]
Intangible asset useful life	15 years
eOne \| Maximum \| Titles Over 3 Years Old
Business Acquisition [Line Items]
Intangible asset useful life	10 years
eOne \| Unsecured Committed
Business Acquisition [Line Items]
Cash consideration per share (in dollars and GBP per share)		$ 95.00
Term loans proceeds which financed acquisition	$ 1,000,000,000.0
eOne \| Senior Notes
Business Acquisition [Line Items]
Aggregate principal amount		$ 2,400,000,000

Business Combination - Schedule of Intangible Assets Acquired (Details) - eOne $ in Millions	Dec. 30, 2019 USD ($)
Business Acquisition [Line Items]
Weighted average amortization period (in years)	11 years
Fair Value	$ 1,056.0
Established brands
Business Acquisition [Line Items]
Weighted average amortization period (in years)	10 years
Fair Value	$ 615.0
Trade names
Business Acquisition [Line Items]
Weighted average amortization period (in years)	15 years
Fair Value	$ 100.0
Artist relationships
Business Acquisition [Line Items]
Weighted average amortization period (in years)	14 years
Fair Value	$ 100.0
Music catalogs
Business Acquisition [Line Items]
Weighted average amortization period (in years)	12 years
Fair Value	$ 120.0
Other
Business Acquisition [Line Items]
Weighted average amortization period (in years)	8 years
Fair Value	$ 121.0

Earnings Per Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020
Basic
Net earnings attributable to Hasbro, Inc.	$ 253.2	$ 220.9	$ 346.5	$ 117.3
Average shares outstanding, basic (in shares)	138.1	137.3	137.9	137.2
Net earnings per common share, basic (in dollars per share)	$ 1.83	$ 1.61	$ 2.51	$ 0.86
Diluted
Net earnings attributable to Hasbro, Inc.	$ 253.2	$ 220.9	$ 346.5	$ 117.3
Effect of dilutive securities:
Average shares outstanding, basic (in shares)	138.1	137.3	137.9	137.2
Options and other share-based awards (in shares)	0.4	0.2	0.4	0.3
Equivalent Shares (in shares)	138.5	137.5	138.3	137.5
Net earnings per common share, diluted (in dollars per share)	$ 1.83	$ 1.61	$ 2.51	$ 0.85

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

Earnings Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020
Employee stock option and restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	2.1	2.9	2.2	3.0

Goodwill - Narrative (Details) $ in Millions	3 Months Ended	6 Months Ended	9 Months Ended
Goodwill - Narrative (Details) $ in Millions	Mar. 28, 2021 segment	Jun. 27, 2021 USD ($)	Sep. 26, 2021 USD ($)	Sep. 27, 2020 USD ($)	Apr. 25, 2021 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Number of reportable segments \| segment	3
Goodwill [Line Items]
Impairment during the period		$ 101.8	$ 101.8	$ 0.0
Disposal Group, Held-for-sale, Not Discontinued Operations \| eOne Music
Goodwill [Line Items]
Aggregate sales price					$ 385.0

Goodwill - Schedule of Goodwill (Details) - USD ($) $ in Millions	6 Months Ended	9 Months Ended
	Jun. 27, 2021	Sep. 26, 2021	Sep. 27, 2020
Goodwill [Roll Forward]
Beginning balance	$ 3,691.7	$ 3,691.7
Goodwill allocation	0.0
Foreign exchange translation	(0.5)
Impairment during the period	(101.8)	(101.8)	$ 0.0
Goodwill associated with the disposal of business	(169.2)
Ending balance	3,420.2	3,420.2	$ 3,644.1
Consumer Products
Goodwill [Roll Forward]
Beginning balance	1,385.7	1,385.7
Goodwill allocation	199.4
Foreign exchange translation	(0.1)
Impairment during the period	0.0
Goodwill associated with the disposal of business	0.0
Ending balance	1,585.0
Wizards of the Coast and Digital Gaming
Goodwill [Roll Forward]
Beginning balance	53.1	53.1
Goodwill allocation	254.2
Foreign exchange translation	0.2
Impairment during the period	0.0
Goodwill associated with the disposal of business	0.0
Ending balance	307.5
Entertainment
Goodwill [Roll Forward]
Beginning balance	2,252.9	$ 2,252.9
Goodwill allocation	(453.6)
Foreign exchange translation	(0.6)
Impairment during the period	(101.8)
Goodwill associated with the disposal of business	(169.2)
Ending balance	$ 1,527.7

Other Comprehensive Earnings (Loss) - Schedule of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020
Other comprehensive earnings (loss), tax effect:
Tax benefit (expense) on unrealized holding gains (losses)	$ 0.1	$ 0.2	$ 0.0	$ (0.4)
Tax (expense) benefit on cash flow hedging activities	(0.3)	0.3	(0.7)	(5.5)
Tax benefit on foreign currency translation adjustments	0.0	0.0	0.0	8.4
Reclassifications to earnings, tax effect:
Tax expense (benefit) on cash flow hedging activities	(0.3)	1.9	(0.3)	3.4
Amortization of unrecognized pension and postretirement amounts	(0.1)	(0.1)	(0.2)	(0.2)
Total tax effect on other comprehensive earnings (loss)	$ (0.6)	$ 2.3	$ (1.2)	$ 5.7

- Definition

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

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+ Details

Other Comprehensive Earnings (Loss) - Schedule of Accumulated Other Comprehensive Earnings (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 2,890.4	$ 2,642.1	$ 2,936.7	$ 2,995.5
Current period other comprehensive earnings (loss)	(25.1)	27.8	(13.6)	(96.1)
Ending balance	3,057.2	2,808.4	3,057.2	2,808.4
Pension and Postretirement Amounts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(40.7)	(36.1)
Current period other comprehensive earnings (loss)			0.6	0.8
Ending balance	(40.1)	(35.3)	(40.1)	(35.3)
Gains (Losses) on Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(22.1)	(5.2)
Current period other comprehensive earnings (loss)			9.5	(0.1)
Ending balance	(12.6)	(5.3)	(12.6)	(5.3)
Unrealized Holding Gains (Losses) on Available- for-Sale Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			0.4	(0.2)
Current period other comprehensive earnings (loss)			(0.1)	1.3
Ending balance	0.3	1.1	0.3	1.1
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(132.6)	(142.6)
Current period other comprehensive earnings (loss)			(23.6)	(98.1)
Ending balance	(156.2)	(240.8)	(156.2)	(240.8)
AOCI Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(183.5)	(308.1)	(195.0)	(184.2)
Current period other comprehensive earnings (loss)	(25.1)	27.8	(13.6)	(96.1)
Ending balance	$ (208.6)	$ (280.3)	$ (208.6)	$ (280.3)

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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+ Details

Other Comprehensive Earnings (Loss) - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020	Mar. 28, 2021	Dec. 27, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net deferred gains on derivative	$ (208.6)	$ (280.3)	$ (208.6)	$ (280.3)		$ (195.0)
Deferred losses reclassified from AOCE to net earnings	$ 43.3	49.4	137.3	153.7
Net gains expected to be reclassified within next 12 months			$ 2.2
3.15% Notes Due 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Debt stated interest rate					3.15%
Aggregate principal amount					$ 300.0
5.10% Notes Due 2044
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Debt stated interest rate	5.10%		5.10%
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent \| Foreign Exchange Forward
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net deferred gains on derivative	$ 3.2		$ 3.2
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent \| Interest Rate Contract
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net deferred gains on derivative	15.7		15.7
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent \| Reclassification out of Accumulated Other Comprehensive Income \| Interest Rate Contract
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Deferred losses reclassified from AOCE to net earnings	$ 0.2	$ 0.5	$ 1.0	$ 1.3

Accrued Liabilities (Details) - USD ($) $ in Millions	Sep. 26, 2021	Dec. 27, 2020	Sep. 27, 2020
Payables and Accruals [Abstract]
Participations and residuals	$ 272.9	$ 295.6	$ 309.2
Royalties	203.9	229.2	206.6
Deferred revenue	147.0	161.0	147.6
Payroll and management incentives	156.1	132.4	89.2
Dividends	93.8	93.4	93.2
Other taxes	69.9	81.9	70.6
Advertising	148.5	58.6	131.5
Severance	33.0	49.7	41.7
Lease liability - Current	43.9	45.0	42.8
Freight	72.6	32.3	35.8
Accrued income taxes	55.3	29.7	18.4
Other	366.8	329.8	283.5
Total accrued liabilities	$ 1,663.7	$ 1,538.6	$ 1,470.1

Financial Instruments - Long-term Debt Instruments (Details) - USD ($)	3 Months Ended
	Sep. 26, 2021	Jun. 27, 2021	Mar. 28, 2021	Dec. 27, 2020	Sep. 27, 2020
Debt Instrument [Line Items]
Carrying Cost	$ 4,194,600,000			$ 5,127,900,000	$ 5,183,800,000
Less: Deferred debt expenses	29,600,000			35,300,000	36,800,000
Current portion of long-term debt	187,600,000			432,600,000	369,300,000
Long-term debt, carrying cost	3,977,400,000			4,660,000,000	4,777,800,000
Fair Value	4,738,400,000			5,617,800,000	5,458,500,000
Long-term debt, fair value	$ 4,738,400,000			5,617,800,000	5,458,500,000
3.90% Notes Due 2029
Debt Instrument [Line Items]
Debt stated interest rate	3.90%
Carrying Cost	$ 900,000,000.0			900,000,000.0	900,000,000.0
Fair Value	$ 1,001,700,000			1,011,200,000	947,500,000
3.55% Notes Due 2026
Debt Instrument [Line Items]
Debt stated interest rate	3.55%
Carrying Cost	$ 675,000,000.0			675,000,000.0	675,000,000.0
Fair Value	$ 737,200,000			752,700,000	716,100,000
3.00% Notes Due 2024
Debt Instrument [Line Items]
Debt stated interest rate	3.00%
Carrying Cost	$ 500,000,000.0			500,000,000.0	500,000,000.0
Fair Value	$ 529,100,000			540,600,000	531,900,000
6.35% Notes Due 2040
Debt Instrument [Line Items]
Debt stated interest rate	6.35%
Carrying Cost	$ 500,000,000.0			500,000,000.0	500,000,000.0
Fair Value	$ 702,300,000			636,500,000	587,400,000
3.50% Notes Due 2027
Debt Instrument [Line Items]
Debt stated interest rate	3.50%
Carrying Cost	$ 500,000,000.0			500,000,000.0	500,000,000.0
Fair Value	$ 546,200,000			544,500,000	518,800,000
2.60% Notes Due 2022
Debt Instrument [Line Items]
Debt stated interest rate	2.60%
Carrying Cost	$ 0			300,000,000.0	300,000,000.0
Fair Value	0			311,500,000	310,700,000
Aggregate principal amount	$ 300,000,000.0
5.10% Notes Due 2044
Debt Instrument [Line Items]
Debt stated interest rate	5.10%
Carrying Cost	$ 300,000,000.0			300,000,000.0	300,000,000.0
Fair Value	375,000,000.0			338,100,000	313,400,000
3.15% Notes Due 2021
Debt Instrument [Line Items]
Debt stated interest rate			3.15%
Carrying Cost	0			300,000,000.0	300,000,000.0
Fair Value	$ 0			302,300,000	303,500,000
Aggregate principal amount			$ 300,000,000.0
6.60% Debentures Due 2028
Debt Instrument [Line Items]
Debt stated interest rate	6.60%
Carrying Cost	$ 109,900,000			109,900,000	109,900,000
Fair Value	137,200,000			137,400,000	130,300,000
Variable % Notes Due December 30, 2022
Debt Instrument [Line Items]
Carrying Cost	0			300,000,000.0	400,000,000.0
Fair Value	0			300,000,000.0	400,000,000.0
Repayments of debt	50,000,000.0	$ 250,000,000.0
Variable % Notes Due December 30, 2024
Debt Instrument [Line Items]
Carrying Cost	505,000,000.0			577,500,000	577,500,000
Fair Value	505,000,000.0			577,500,000	577,500,000
Repayments of debt	50,000,000.0
Production Financing Facilities
Debt Instrument [Line Items]
Carrying Cost	204,700,000			165,500,000	121,400,000
Fair Value	$ 204,700,000			$ 165,500,000	$ 121,400,000

Financial Instruments - Narrative (Details) - USD ($)	1 Months Ended		3 Months Ended	9 Months Ended		12 Months Ended
Financial Instruments - Narrative (Details) - USD ($)	Nov. 30, 2019	Sep. 30, 2019	Sep. 26, 2021	Sep. 26, 2021	Sep. 27, 2020	Dec. 27, 2020
Debt Instrument [Line Items]
Debt extinguishment costs				$ 9,100,000	$ 0
Current portion of long-term debt			$ 187,600,000	$ 187,600,000	$ 369,300,000	$ 432,600,000
Production financing facilities, term (less than)				2 years
Production financing loan, weighted average interest rate			2.90%	2.90%
Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 2,400,000,000
Underwriting discount and fees	20,000,000.0
Net proceeds after deduction of underwriting discount and fees	$ 2,400,000,000
Redemption price (as a percent)	100.00%
Senior Notes \| Minimum
Debt Instrument [Line Items]
Term of loan facility	5 years
Upward adjustment if credit rating is reduced (as a percent)	0.25%
Senior Notes \| Maximum
Debt Instrument [Line Items]
Term of loan facility	10 years
Upward adjustment if credit rating is reduced (as a percent)	2.00%
2.60% Notes Due 2022
Debt Instrument [Line Items]
Aggregate principal amount			$ 300,000,000.0	$ 300,000,000.0
Debt stated interest rate			2.60%	2.60%
2.60% Notes Due 2022 \| Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 300,000,000.0
Debt stated interest rate	2.60%
Debt extinguishment costs			$ 9,100,000
3.00% Notes Due 2024
Debt Instrument [Line Items]
Debt stated interest rate			3.00%	3.00%
3.00% Notes Due 2024 \| Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 500,000,000.0
Debt stated interest rate	3.00%
3.00% Notes Due 2024 \| Senior Notes \| US Treasury (UST) Interest Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.25%
3.55% Notes Due 2026
Debt Instrument [Line Items]
Debt stated interest rate			3.55%	3.55%
3.55% Notes Due 2026 \| Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 675,000,000.0
Debt stated interest rate	3.55%
3.55% Notes Due 2026 \| Senior Notes \| US Treasury (UST) Interest Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.30%
3.90% Notes Due 2029
Debt Instrument [Line Items]
Debt stated interest rate			3.90%	3.90%
3.90% Notes Due 2029 \| Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 900,000,000.0
Debt stated interest rate	3.90%
3.90% Notes Due 2029 \| Senior Notes \| US Treasury (UST) Interest Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.35%
Term Loan Agreement \| Unsecured Debt
Debt Instrument [Line Items]
Aggregate principal amount						1,000,000,000
Repayments of unsecured debt				$ 372,500,000		122,500,000
Consolidated interest coverage ratio		3.00
Consolidated total leverage ratio		3.50
Term Loan Agreement \| Unsecured Debt \| Minimum
Debt Instrument [Line Items]
Consolidated total leverage ratio		5.40
Term Loan Agreement \| Unsecured Debt \| Maximum
Debt Instrument [Line Items]
Consolidated total leverage ratio		5.65
Three-Year Term Loan Facility \| Unsecured Debt
Debt Instrument [Line Items]
Aggregate principal amount		$ 400,000,000.0
Term of loan facility		3 years
Repayments of unsecured debt				300,000,000.0		100,000,000.0
Five-Year Term Loan Facility \| Unsecured Debt
Debt Instrument [Line Items]
Aggregate principal amount		$ 600,000,000.0
Term of loan facility		5 years
Repayments of unsecured debt				22,500,000		$ 22,500,000
Repayments of unsecured debt, principal				$ 50,000,000.0
Five-Year Term Loan Facility \| Unsecured Debt \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Debt stated interest rate		5.00%
Term of loan facility		2 years
Five-Year Term Loan Facility \| Unsecured Debt \| Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Debt stated interest rate		10.00%
Five-Year Term Loan Facility \| Unsecured Debt \| Minimum \| Eurocurrency Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		1.00%
Five-Year Term Loan Facility \| Unsecured Debt \| Minimum \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		0.00%
Five-Year Term Loan Facility \| Unsecured Debt \| Maximum \| Eurocurrency Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		1.875%
Five-Year Term Loan Facility \| Unsecured Debt \| Maximum \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		0.875%

Financial Instruments - Production Financing Loans (Details) - USD ($) $ in Millions	Sep. 26, 2021	Dec. 27, 2020	Sep. 27, 2020
Debt Disclosure [Abstract]
Production financing held by production subsidiaries	$ 204.7	$ 165.5	$ 121.4
Other loans	0.0	5.4	9.0
Total	204.7	170.9	130.4
Non-current	47.0	62.9	82.2
Current	157.7	102.6	39.2
Total	$ 204.7	$ 165.5	$ 121.4

Financial Instruments - Schedule of Line of Credit Facilities (Details) $ in Millions, $ in Millions	Sep. 26, 2021 USD ($)	Sep. 26, 2021 CAD ($)	Dec. 27, 2020 USD ($)
Line of Credit Facility [Line Items]
Production financing loan and other loans	$ 204.7		$ 170.9
CANADA
Line of Credit Facility [Line Items]
Production financing loan and other loans		$ 37.0
U.S.
Line of Credit Facility [Line Items]
Production financing loan and other loans	167.7
U.S. Dollars and Canadian Dollars
Line of Credit Facility [Line Items]
Production financing loan and other loans	$ 204.7

Financial Instruments - Schedule of Production Financing Loan and Other Loans (Details) $ in Millions	9 Months Ended
	Sep. 26, 2021 USD ($)
Production Financing
Production financing loans, beginning balance	$ 165.5
Drawdowns	127.6
Repayments	(89.6)
Foreign exchange differences	1.2
Production financing loans, ending balance	204.7
Other Loans
Other loans, beginning balance	5.4
Drawdowns	16.7
Repayments	(22.9)
Foreign exchange differences	0.8
Other loans, ending balance	0.0
Production financing loan and other loans, beginning balance	170.9
Drawdowns	144.3
Repayments	(112.5)
Foreign exchange differences	2.0
Production financing loan and other loans, ending balance	$ 204.7

Investments in Productions and Investments in Acquired Content Rights - Program Production Costs (Details) - USD ($) $ in Millions	Sep. 26, 2021	Dec. 27, 2020	Sep. 27, 2020
Film and TV Programming
Released, net of amortization	$ 512.6	$ 428.0	$ 477.3
Completed and not released	20.1	17.3	18.1
In production	202.1	185.5	51.0
Pre-production	91.9	67.6	41.1
Total film costs	826.7	698.4	587.5
Other Programming
Released, net of amortization	3.9	13.7	11.5
Completed and not released	0.4	2.1	3.4
In production	5.9	5.4	9.1
Pre-production	2.5	7.6	8.0
Other programming costs	12.7	28.8	32.0
Total Program Investments	$ 839.4	$ 727.2	$ 619.5

Investments in Productions and Investments in Acquired Content Rights - Program Costs Amortization (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020
Product Information [Line Items]
Program cost amortization	$ 187.9	$ 85.4	$ 396.1	$ 268.2
eOne
Product Information [Line Items]
Program cost amortization			396.1
eOne \| Investment in Production
Product Information [Line Items]
Program cost amortization			334.6
eOne \| Investment in Content
Product Information [Line Items]
Program cost amortization			59.9
eOne \| Other
Product Information [Line Items]
Program cost amortization			$ 1.6

Income Taxes (Details) - USD ($) $ in Millions	9 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Sep. 26, 2021	Sep. 27, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate	29.00%	35.00%
Discrete income tax expense (benefit)	$ 8.8	$ (5.3)

Fair Value of Financial Instruments - Narrative (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 27, 2020 USD ($)	Sep. 27, 2020 USD ($)	Sep. 26, 2021 company
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Gain (loss) on available for sale investments, fair value option	$ 1.1	$ (0.1)
Number of companies quoted on an active public market \| company			1
Fair Value, Recurring
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Available-for-sale investments, elected fair value option	$ 13.4	$ 13.4

Fair Value of Financial Instruments - Fair Value Hierarchy (Details) - USD ($) $ in Millions	Sep. 26, 2021	Dec. 27, 2020	Sep. 27, 2020
Assets:
Available-for-sale securities	$ 2.0	$ 2.1	$ 3.7
Derivatives	9.8	4.8	15.7
Total assets	11.8	6.9	19.4
Liabilities:
Derivatives	1.7	12.7	0.4
Option agreement	21.8	20.6	20.6
Total liabilities	23.5	33.3	21.0
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Available-for-sale securities	2.0	2.1	3.7
Derivatives	0.0	0.0	0.0
Total assets	2.0	2.1	3.7
Liabilities:
Derivatives	0.0	0.0	0.0
Option agreement	0.0	0.0	0.0
Total liabilities	0.0	0.0	0.0
Significant Other Observable Inputs (Level 2)
Assets:
Available-for-sale securities	0.0	0.0	0.0
Derivatives	9.8	4.8	15.7
Total assets	9.8	4.8	15.7
Liabilities:
Derivatives	1.7	12.7	0.4
Option agreement	0.0	0.0	0.0
Total liabilities	1.7	12.7	0.4
Significant Unobservable Inputs (Level 3)
Assets:
Available-for-sale securities	0.0	0.0	0.0
Derivatives	0.0	0.0	0.0
Total assets	0.0	0.0	0.0
Liabilities:
Derivatives	0.0	0.0	0.0
Option agreement	21.8	20.6	20.6
Total liabilities	$ 21.8	$ 20.6	$ 20.6

Fair Value of Financial Instruments - Reconciliation of Level 3 Fair value (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 26, 2021	Sep. 27, 2020
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of year	$ (20.6)	$ (22.1)
Gain from change in fair value	(1.2)	1.5
Balance at end of third quarter	$ (21.8)	$ (20.6)

Derivative Financial Instruments - Summary of Cash Flow Hedging Instruments (Details) - Cash Flow Hedging - Designated as Hedging Instrument - USD ($) $ in Millions	Sep. 26, 2021	Dec. 27, 2020	Sep. 27, 2020
Derivative [Line Items]
Notional Amount	$ 687.7	$ 518.3	$ 542.9
Fair Value	5.8	(8.3)	15.2
Inventory purchases
Derivative [Line Items]
Notional Amount	261.8	316.8	315.9
Fair Value	6.0	(10.0)	9.1
Sales
Derivative [Line Items]
Notional Amount	164.5	111.6	111.8
Fair Value	(0.5)	1.4	3.9
Production financing and other
Derivative [Line Items]
Notional Amount	261.4	89.9	115.2
Fair Value	$ 0.3	$ 0.3	$ 2.2

Derivative Financial Instruments - Schedule of Foreign Currency Forward Contracts Designated as Cash Flow Hedges (Details) - Cash Flow Hedging - Designated as Hedging Instrument - USD ($) $ in Millions	Sep. 26, 2021	Dec. 27, 2020	Sep. 27, 2020
Derivatives, Fair Value [Line Items]
Net unrealized gains	$ 5.8	$ (8.3)	$ 15.2
Foreign Exchange Forward \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Unrealized gains	8.6	2.3	13.4
Unrealized losses	(3.7)	(1.6)	(1.7)
Net unrealized gains	4.9	0.7	11.6
Foreign Exchange Forward \| Other assets
Derivatives, Fair Value [Line Items]
Unrealized gains	2.0	1.1	4.2
Unrealized losses	(0.1)	0.0	(0.2)
Net unrealized gains	1.9	1.1	4.0
Foreign Exchange Forward \| Accrued liabilities
Derivatives, Fair Value [Line Items]
Unrealized gains	0.3	3.0	0.7
Unrealized losses	(1.3)	(12.9)	(1.0)
Net unrealized gains	(1.0)	(9.9)	(0.3)
Foreign Exchange Forward \| Other liabilities
Derivatives, Fair Value [Line Items]
Unrealized gains	0.0	0.0	0.0
Unrealized losses	0.0	(0.2)	(0.1)
Net unrealized gains	$ 0.0	$ (0.2)	$ (0.1)

Derivative Financial Instruments - Schedule of Net Gains (Losses) on Cash Flow Hedges Activities (Details) - Foreign Exchange Forward - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Other comprehensive earnings (loss), before tax	$ (1.1)	$ 9.2	$ (1.0)	$ 20.5
Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Other comprehensive earnings (loss), before tax	(2.0)	7.1	(4.4)	16.7
Net revenues
Derivative Instruments, Gain (Loss) [Line Items]
Other comprehensive earnings (loss), before tax	0.1	1.2	1.4	2.4
Other
Derivative Instruments, Gain (Loss) [Line Items]
Other comprehensive earnings (loss), before tax	$ 0.8	$ 0.9	$ 2.0	$ 1.4

Derivative Financial Instruments - Narrative (Details) - Foreign Exchange Forward - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020	Dec. 27, 2020
Fair Value Hedging
Derivative [Line Items]
Net gains (losses) on derivative	$ 3.6	$ (6.9)	$ 2.9	$ (20.1)
Not Designated as Hedging Instrument
Derivative [Line Items]
Notional amount	$ 663.2	$ 538.9	$ 663.2	$ 538.9	$ 590.6

Derivative Financial Instruments - Fair Values of Undesignated Derivative Financial Instruments (Details) - Foreign Exchange Forward - Not Designated as Hedging Instrument - USD ($) $ in Millions	Sep. 26, 2021	Dec. 27, 2020	Sep. 27, 2020
Derivatives, Fair Value [Line Items]
Net unrealized gains	$ 2.3	$ 0.4	$ 0.1
Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Unrealized gains	6.5	3.5	3.3
Unrealized losses	(3.4)	(0.5)	(3.2)
Net unrealized gains	3.1	3.0	0.1
Accrued liabilities
Derivatives, Fair Value [Line Items]
Unrealized gains	0.0	0.0	0.0
Unrealized losses	(0.8)	(2.6)	0.0
Net unrealized gains	$ (0.8)	$ (2.6)	$ 0.0

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020
Lessee, Lease, Description [Line Items]
Operating lease expense	$ 21.8	$ 22.3	$ 66.0	$ 67.6
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms	1 year		1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	18 years		18 years

Leases - Lease Cost (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Millions	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020
Leases [Abstract]
Operating cash flows from operating leases	$ 13.7	$ 13.2	$ 39.9	$ 38.8
Right-of-use assets obtained in exchange for lease obligations, operating leases	$ 10.4	$ 2.1	$ 21.8	$ 102.5
Weighted average remaining lease term, operating leases	5 years 7 months 6 days	6 years 2 months 12 days	5 years 7 months 6 days	6 years 2 months 12 days
Weighted average discount rate, operating lease	3.10%	3.10%	3.10%	3.10%

Leases - Maturities of Operating Lease Liabilities (Details) $ in Millions	Sep. 26, 2021 USD ($)
Leases [Abstract]
2021 (excluding the nine months ended September 26, 2021)	$ 13.2
2022	49.8
2023	41.6
2024	29.9
2025	23.9
2026 and thereafter	49.9
Total future lease payments	208.3
Less imputed interest	25.2
Present value of future operating lease payments	183.1
Less current portion of operating lease liabilities	43.9
Non-current operating lease liability	139.2
Operating lease right-of-use assets, net	$ 165.6

Segment Reporting - Narrative (Details)	3 Months Ended
Segment Reporting - Narrative (Details)	Mar. 28, 2021 segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segment Reporting - Net Revenues by Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	$ 1,970.0	$ 1,776.6	$ 4,407.0	$ 3,742.5
Corporate and Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	201.3	135.7	450.3	329.1
Consumer Products
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	1,282.7	1,317.8	2,625.8	2,409.8
Consumer Products \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	1,282.7	1,317.8	2,625.8	2,409.8
Consumer Products \| Affiliate
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	(149.6)	(110.1)	(316.8)	(268.8)
Wizards of the Coast and Digital Gaming \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	360.2	273.4	1,008.7	670.7
Wizards of the Coast and Digital Gaming \| Affiliate
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	(38.0)	(23.4)	(93.1)	(56.4)
Entertainment
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	327.1	185.4	772.5	662.0
Entertainment \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	327.1	185.4	772.5	662.0
Entertainment \| Affiliate
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	$ (13.7)	$ (2.2)	$ (40.4)	$ (3.9)

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Segment Reporting - Operating Profit (Loss) by Segments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss)	$ 367.9	$ 336.6	$ 591.8	$ 315.5
Corporate and Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss)	(24.3)	(2.9)	(56.7)	(61.1)
Consumer Products \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss)	210.4	226.2	260.5	171.2
Wizards of the Coast and Digital Gaming \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss)	159.4	141.6	462.3	311.5
Entertainment \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss)	$ 22.4	$ (28.3)	$ (74.3)	$ (106.1)

Segment Reporting - Total Assets by Segments (Details) - USD ($) $ in Millions	Sep. 26, 2021	Dec. 27, 2020	Sep. 27, 2020
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 10,230.4	$ 10,818.3	$ 10,703.2
Corporate and Other
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	(1,008.7)	(1,322.9)	(2,746.8)
Consumer Products \| Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	4,754.0	5,552.5	6,323.4
Wizards of the Coast and Digital Gaming \| Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	915.1	585.7	926.9
Entertainment \| Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 5,570.0	$ 6,003.0	$ 6,199.7

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Segment Reporting - Schedule of International Segment Net Revenues by Major Geographic Region (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	$ 1,970.0	$ 1,776.6	$ 4,407.0	$ 3,742.5
Consumer Products
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	1,282.7	1,317.8	2,625.8	2,409.8
Consumer Products \| North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	805.0	830.1	1,559.1	1,434.9
Consumer Products \| Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	304.2	316.8	669.2	615.4
Consumer Products \| Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	75.5	78.2	208.7	197.1
Consumer Products \| Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	$ 98.0	$ 92.7	$ 188.8	$ 162.4

- Definition

+ References

+ Details

Segment Reporting - Net Revenues by Brand and Entertainment Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2021	Sep. 27, 2020	Sep. 26, 2021	Sep. 27, 2020
Revenue from External Customer [Line Items]
Net revenues	$ 1,970.0	$ 1,776.6	$ 4,407.0	$ 3,742.5
Franchise Brands
Revenue from External Customer [Line Items]
Net revenues	882.0	807.5	2,023.4	1,580.9
Partner Brands
Revenue from External Customer [Line Items]
Net revenues	366.7	409.2	766.7	729.8
Hasbro Gaming
Revenue from External Customer [Line Items]
Net revenues	281.9	239.2	565.3	516.3
Emerging Brands
Revenue from External Customer [Line Items]
Net revenues	177.5	155.0	399.2	325.1
TV/Film/Entertainment
Revenue from External Customer [Line Items]
Net revenues	261.9	165.7	652.4	590.4
Gaming including Magic the Gathering and Monopoly
Revenue from External Customer [Line Items]
Net revenues	658.6	543.1	1,543.3	1,202.6
Entertainment
Revenue from External Customer [Line Items]
Net revenues	327.1	185.4	772.5	662.0
Entertainment \| Film & TV
Revenue from External Customer [Line Items]
Net revenues	255.4	141.6	586.1	514.5
Entertainment \| Family Brands
Revenue from External Customer [Line Items]
Net revenues	60.5	14.2	105.4	58.9
Entertainment \| Music and Other
Revenue from External Customer [Line Items]
Net revenues	$ 11.2	$ 29.6	$ 81.0	$ 88.6

eOne Music Sale - Additional Information (Details) - USD ($) $ in Millions		3 Months Ended	6 Months Ended	9 Months Ended
	Jun. 29, 2021	Jun. 27, 2021	Jun. 27, 2021	Sep. 26, 2021	Sep. 27, 2020	Apr. 25, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds from sale of business				$ 379.2	$ 0.0
Loss on disposal of business			$ 101.8	101.8	$ 0.0
eOne Music \| Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate sales price						$ 385.0
eOne Music \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate sales price	$ 385.0
Net proceeds from sale of business	397.0
Aggregate sales price, closing adjustments	12.0
Loss on disposal of business				$ 101.8
Pre-tax cash transaction expenses		$ 9.5
Assets de-consolidated	479.5
Liabilities de-consolidated	$ 76.3

eOne Music Sale - Major Classes of eOne Music Assets and Liabilities Sold (Details) - eOne Music - Disposal Group, Disposed of by Sale, Not Discontinued Operations $ in Millions	Jun. 29, 2021 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and Cash Equivalents	$ 18.2
Goodwill and Other Intangible Assets	410.3
Prepaid Expenses	31.0
Other Assets	20.0
Total Assets	479.5
Accrued Liabilities	24.4
Deferred Taxes	36.9
Other Liabilities	15.0
Total Liabilities	$ 76.3

Restructuring Actions - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 27, 2020	Sep. 27, 2020	Dec. 27, 2020
Restructuring Cost and Reserve [Line Items]
Pre-tax severance expense		$ 11.5
eOne
Restructuring Cost and Reserve [Line Items]
Pre-tax severance expense	$ 1.4	$ 20.8	$ 32.5

Restructuring Actions - Schedule of Restructuring and Related Costs (Details) $ in Millions	9 Months Ended
	Sep. 26, 2021 USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 35.0
Payments made in the first nine months of 2021	(15.1)
Ending balance	19.9
2018 Restructuring & 2020 Commercial Program
Restructuring Reserve [Roll Forward]
Beginning balance	17.3
Payments made in the first nine months of 2021	(6.3)
Ending balance	11.0
eOne Integration Program
Restructuring Reserve [Roll Forward]
Beginning balance	16.9
Payments made in the first nine months of 2021	(8.8)
Ending balance	8.1
Other
Restructuring Reserve [Roll Forward]
Beginning balance	0.8
Payments made in the first nine months of 2021	0.0
Ending balance	$ 0.8