0000046080-24-000167 | 10-Q | XBRL Viewer

Debt

9 Months Ended

Sep. 29, 2024

The carrying costs, which are equal to the outstanding principal amounts, and fair values of the Company's long-term borrowings as of September 29, 2024, October 1, 2023 and December 31, 2023 are as follows:


	September 29, 2024				October 1, 2023				December 31, 2023
	Carrying Cost		Fair Value		Carrying Cost		Fair Value		Carrying Cost		Fair Value
3.90% Notes Due 2029	$	900.0	$	869.5	$	900.0	$	797.4	$	900.0	$	839.8
3.55% Notes Due 2026	675.0		662.4		675.0		629.3		675.0		641.0
3.00% Notes Due 2024	500.0		498.2		500.0		483.2		500.0		488.4
6.35% Notes Due 2040	500.0		536.5		500.0		483.7		500.0		520.1
3.50% Notes Due 2027	500.0		486.6		500.0		461.4		500.0		472.2
6.05% Notes Due 2034	500.0		526.5		—		—		—		—
5.10% Notes Due 2044	300.0		279.7		300.0		245.1		300.0		271.6
6.60% Debentures Due 2028	109.9		117.5		109.9		113.0		109.9		116.0
Variable % Notes Due December 30, 2024 (1)	—		—		250.0		250.0		—		—
Production Financing Facilities (2)	—		—		—		—		—		—
Total long-term debt	$	3,984.9	$	3,976.9	$	3,734.9	$	3,463.1	$	3,484.9	$	3,349.1
Less: Deferred debt expenses	22.3		—		20.3		—		19.1		—
Less: Current portion	500.0		—		60.0		—		500.0		—
Long-term debt	$	3,462.6	$	3,976.9	$	3,654.6	$	3,463.1	$	2,965.8	$	3,349.1

(1) During the fourth quarter of 2023, the Company paid the remaining principal balance of the Variable % Notes Due December 30, 2024.

(2) The Company's production financing facilities were assumed by Lionsgate effective upon the closing of the sale of the eOne Film and TV business in the fourth quarter of 2023 and were recorded in liabilities held for sale as of October 1, 2023. See Note 3 for additional information.

2034 Notes

In May 2024, the Company issued an aggregate of $500.0 million of senior unsecured debt securities that bear a fixed interest rate of 6.05% due 2034 (the "2034 Notes"). In connection with the issuance of the 2034 Notes, the 2034 Notes were issued with an original issuance discount of $1.4 million and the Company capitalized $5.3 million of debt issuance costs. The original issuance discount and debt issuance costs will be amortized over the term of the 2034 Notes.

Other Financing Arrangements

The Company's third amended and restated revolving credit facility with Bank of America, as administrative agent, swing line lender, a letter of credit issuer and a lender and certain other financial institutions as lenders thereto (the "Amended Revolving Credit Facility") provides the Company with commitments having a maximum aggregate principal amount of $1.25 billion. The Amended Revolving Credit Agreement contains certain financial covenants setting forth leverage and coverage requirements, and certain other limitations typical of an investment grade facility, including with respect to liens, mergers and incurrence of indebtedness. It also provides for a potential additional incremental commitment increase of up to $500.0 million subject to agreement of the lenders.

The Company also has a supplier finance program which provides participating suppliers the option of receiving payment in advance of an invoice due date, to be paid by certain administering banks, on the basis of invoices that the Company has confirmed as valid and approved. The Company’s obligation is to make payment in the invoice amount negotiated with participating suppliers, to the administering banks on the invoice due date. The Company’s suppliers are not required to participate in the supplier finance program. The early payment transactions between the Company’s supplier and the administering bank are subject to an agreement between those parties, and the Company does not participate in any financial aspect of the agreements between the Company’s suppliers and the administering banks. The Company has not pledged any assets to the administering bank under the supplier financing program. The Company or the administering bank may terminate the agreement upon at least 30 days’ written notice. The amount of obligations confirmed under the program that remain unpaid by the Company were $118.7 million, $105.7 million, and $43.3 million as of September 29, 2024, October 1, 2023 and December 31, 2023, respectively. These obligations are presented within Accounts payable in our Consolidated Balance Sheets. The activity related to this program is reflected within the operating activities section of the Consolidated Statements of Cash Flows.

- 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

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 29, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Additional Balance Sheet Information - Components of Accrued liabilities (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended			9 Months Ended
	Dec. 29, 2024	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023	Dec. 31, 2023
Payables and Accruals [Abstract]
Royalties		$ 335.4	$ 148.9	$ 335.4	$ 148.9	$ 286.8
Deferred revenue		103.2	112.1	103.2	112.1	101.6
Lag & cancellation charges		51.2	83.0	51.2	83.0	118.9
Dividends		0.0	97.1	0.0	97.1	97.2
Severance		51.0	55.5	51.0	55.5	83.7
Accrued income taxes		99.3	27.3	99.3	27.3	61.6
Other taxes		60.5	63.8	60.5	63.8	68.7
Interest		49.5	38.1	49.5	38.1	29.9
General vendor accruals		57.8	57.9	57.8	57.9	51.9
Participations and residuals		18.3	30.4	18.3	30.4	34.0
Advertising		70.0	52.3	70.0	52.3	45.0
Lease liability - current		$ 32.2	$ 28.1	$ 32.2	$ 28.1	$ 30.5
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]		Total accrued liabilities	Total accrued liabilities	Total accrued liabilities	Total accrued liabilities	Total accrued liabilities
Payroll and management incentives		$ 79.8	$ 63.8	$ 79.8	$ 63.8	$ 85.6
Defined contribution plans		16.0	27.3	16.0	27.3	29.7
Freight		34.7	32.3	34.7	32.3	22.9
Insurance		12.3	12.2	12.3	12.2	13.3
Professional fees		18.6	16.0	18.6	16.0	12.4
Accrued expenses - IIP & IIC		0.5	2.7	0.5	2.7	0.7
Other		42.2	36.6	42.2	36.6	41.4
Total accrued liabilities		$ 1,132.5	$ 985.4	$ 1,132.5	$ 985.4	$ 1,215.8
Other Assets [Line Items]
Cash dividends declared per common share (in dollars per share)		$ 0.70	$ 0.70	$ 1.40	$ 2.10
Forecast
Other Assets [Line Items]
Cash dividends declared per common share (in dollars per share)	$ 0.70

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	23.10%	20.80%	24.10%	8.00%
Discrete income tax expense (benefit)	$ 1.1	$ (104.4)	$ 1.8	$ (113.3)
Loss on disposal of business and assets held for sale	0.0	473.0	24.4	473.0
Impairment of goodwill	0.0	0.0	0.0	231.2
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on disposal of business and assets held for sale	0.0	$ 473.0	$ 24.4	473.0
Disposal Group, Held-for-sale \| eOne Film and TV
Income Tax Disclosure [Abstract]
Loss on disposal of business and assets held for sale	(473.0)			473.0
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on disposal of business and assets held for sale	$ (473.0)			$ 473.0

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023
Cash flows from operating activities:
Net earnings (loss)	$ 420.9	$ (427.0)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Depreciation of plant and equipment	74.0	88.0
Loss on disposal of business	24.4	473.0
Impairment of goodwill	0.0	231.2
Impairment of intangible assets	0.0	65.0
Amortization of intangibles	51.2	65.1
Program production cost amortization	24.5	325.3
Deferred income taxes	21.0	(47.1)
Stock-based compensation	28.8	55.9
Other non-cash items	(13.7)	(6.6)
Change in operating assets and liabilities net of acquired balances:
Increase in accounts receivable	(49.7)	(86.3)
(Increase) decrease in inventories	(45.5)	53.0
Decrease in prepaid expenses and other current assets	8.2	17.0
Program spend, net	(20.7)	(337.5)
Increase (decrease) in accounts payable and accrued liabilities	72.7	(127.5)
Change in net deemed repatriation tax	(45.9)	(34.4)
Other	37.4	27.8
Net cash provided by operating activities	587.6	334.9
Cash flows from investing activities:
Additions to property, plant and equipment	(146.2)	(160.4)
Purchases of investments	(571.0)	0.0
Net (settlement) proceeds from sale of business	(12.0)	0.0
Sale of investments	91.0	0.0
Other	2.8	(2.2)
Net cash utilized by investing activities	(635.4)	(162.6)
Cash flows from financing activities:
Proceeds from borrowings with maturity greater than three months	498.6	2.5
Repayments of borrowings with maturity greater than three months	0.0	(107.0)
Net proceeds from other short-term borrowings	0.0	0.3
Dividends paid	(292.2)	(290.9)
Payments related to tax withholding for share-based compensation	(13.0)	(15.7)
Stock-based compensation transactions	7.6	0.0
Payment of financing costs	(5.3)	0.0
Other	(4.9)	(7.2)
Net cash provided by (utilized by) financing activities	190.8	(418.0)
Effect of exchange rate changes on cash	7.7	(11.5)
Net increase (decrease) in cash, cash equivalents and restricted cash	150.7	(257.2)
Net change due to cash classified as held for sale	0.0	(70.4)
Net increase (decrease) in cash, cash equivalents and restricted cash	150.7	(327.6)
Cash, cash equivalents and restricted cash at beginning of year	545.4	513.1
Cash, cash equivalents and restricted cash at end of period	696.1	185.5
Cash paid during the period for:
Interest	101.8	126.7
Income taxes, net	$ 70.2	$ 96.9

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 29, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Contingencies – The Company is subject to claims related to product and other commercial matters. In determining costs to accrue related to these items, the Company carefully analyzes cases and considers the likelihood of adverse judgments or outcomes, as well as the potential range of possible loss. The Company accrues for matters when losses are both probable and estimable. Any amounts accrued for these matters are monitored on an ongoing basis and are updated based on new developments or new information as it becomes available for each matter. Litigation and Other Claims – The Company from time to time may be subject to lawsuits and other claims related to product, commercial, employee, environmental and other matters in the normal course of business. In determining costs to accrue related to these items, the Company carefully analyzes cases and considers the likelihood of adverse judgments or outcomes, as well as the potential range of possible loss. The Company accrues for matters when losses are both probable and estimable. Any amounts accrued for these matters are monitored on an ongoing basis and are updated based on new developments or new information as it becomes available for each matter. Environmental Liabilities - The Company monitors for any estimated environmental contingencies related to its current physical locations and former owned or leased facilities in which it is responsible for environmental matters. The Company has estimated a $31.1 million environmental liability related to a previously owned manufacturing facility (environmental liability assumed as part of a historical acquisition), in which the Company is solely responsible for the mitigation and remediation activities. Contractual obligations and commercial commitments, as detailed in the Company's 2023 Form 10-K, did not materially change outside of certain payments made in the normal course of business, except as disclosed above and as disclosed in Note 8.

Additional Balance Sheet Information - Additional Information (Details) - USD ($) $ in Millions	Sep. 29, 2024	Dec. 31, 2023	Oct. 01, 2023
Payables and Accruals [Abstract]
Prepaid expenses and other current assets	$ 173.6	$ 85.6	$ 92.0
Content assets	145.1	162.8	196.5
Other Noncurrent Assets
Other Assets [Line Items]
Deferred income tax assets	$ 407.1	$ 427.9	$ 251.7

Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 29, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value Hierarchy

At September 29, 2024, October 1, 2023 and December 31, 2023, 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 29, 2024
Assets:
Short-term investments	$	489.3	$	489.3	$	—	$	—
Available-for-sale securities	0.6		0.6		—		—
Derivatives	3.4		—		3.4		—
Total assets	$	493.3	$	489.9	$	3.4	$	—

Liabilities:
Derivatives	$	5.9	$	—	$	5.9	$	—
Option agreement	1.7		—		—		1.7
Total liabilities	$	7.6	$	—	$	5.9	$	1.7

October 1, 2023
Assets:
Available-for-sale securities	$	1.2	$	1.2	$	—	$	—
Derivatives	8.3		—		8.3		—
Total assets	$	9.5	$	1.2	$	8.3	$	—

Liabilities:
Derivatives	$	2.1	$	—	$	2.1	$	—
Option agreement	1.7		—		—		1.7
Total liabilities	$	3.8	$	—	$	2.1	$	1.7

December 31, 2023
Assets:
Available-for-sale securities	$	1.1	$	1.1	$	—	$	—
Derivatives	0.7		—		0.7		—
Total assets	$	1.8	$	1.1	$	0.7	$	—

Liabilities:
Derivatives	$	3.9	$	—	$	3.9	$	—
Option agreement	1.7		—		—		1.7
Total Liabilities	$	5.6	$	—	$	3.9	$	1.7

Restructuring Actions - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Dec. 31, 2023	Dec. 25, 2022
2018 And 2020 Restructuring Actions
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	$ 0.6
Payments for restructuring	1.9
Operational Excellence Program
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	48.9	$ 51.0	$ 81.2	$ 84.9
Payments for restructuring	$ 40.1	$ 33.9
Operational Excellence Program \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected positions eliminated, period (in months)	18 months
Operational Excellence Program \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected positions eliminated, period (in months)	24 months

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Derivative Financial Instruments - Foreign Currency Forward Contracts Designated as Cash Flow Hedges (Details) - USD ($) $ in Millions	Sep. 29, 2024	Dec. 31, 2023	Oct. 01, 2023
Derivatives, Fair Value [Line Items]
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other current assets, Assets, Noncurrent, Excluding Property, Plant, And Equipment And Finance Lease Right-of-Use Asset, After Accumulated Depreciation And Amortization	Prepaid expenses and other current assets, Assets, Noncurrent, Excluding Property, Plant, And Equipment And Finance Lease Right-of-Use Asset, After Accumulated Depreciation And Amortization	Prepaid expenses and other current assets, Assets, Noncurrent, Excluding Property, Plant, And Equipment And Finance Lease Right-of-Use Asset, After Accumulated Depreciation And Amortization
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities	Accrued liabilities	Accrued liabilities
Designated as Hedging Instrument \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Unrealized gains	$ 3.1	$ 0.5	$ 5.9
Unrealized losses	(0.2)	(0.1)	(2.0)
Net unrealized gains (losses)	2.9	0.4	3.9
Designated as Hedging Instrument \| Other assets
Derivatives, Fair Value [Line Items]
Unrealized gains	0.5	0.0	1.5
Unrealized losses	0.0	0.0	(0.1)
Net unrealized gains (losses)	0.5	0.0	1.4
Designated as Hedging Instrument \| Accrued liabilities
Derivatives, Fair Value [Line Items]
Unrealized gains	1.0	0.7	0.4
Unrealized losses	(4.0)	(3.5)	(2.4)
Net unrealized gains (losses)	(3.0)	(2.8)	(2.0)
Designated as Hedging Instrument \| Other liabilities
Derivatives, Fair Value [Line Items]
Unrealized gains	0.1	0.0	0.0
Unrealized losses	(1.0)	0.0	0.0
Net unrealized gains (losses)	$ (0.9)	$ 0.0	$ 0.0

Fair Value of Financial Instruments

9 Months Ended

Sep. 29, 2024

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;

•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.


	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 29, 2024
Assets:
Short-term investments	$	489.3	$	489.3	$	—	$	—
Available-for-sale securities	0.6		0.6		—		—
Derivatives	3.4		—		3.4		—
Total assets	$	493.3	$	489.9	$	3.4	$	—

Liabilities:
Derivatives	$	5.9	$	—	$	5.9	$	—
Option agreement	1.7		—		—		1.7
Total liabilities	$	7.6	$	—	$	5.9	$	1.7

October 1, 2023
Assets:
Available-for-sale securities	$	1.2	$	1.2	$	—	$	—
Derivatives	8.3		—		8.3		—
Total assets	$	9.5	$	1.2	$	8.3	$	—

Liabilities:
Derivatives	$	2.1	$	—	$	2.1	$	—
Option agreement	1.7		—		—		1.7
Total liabilities	$	3.8	$	—	$	2.1	$	1.7

December 31, 2023
Assets:
Available-for-sale securities	$	1.1	$	1.1	$	—	$	—
Derivatives	0.7		—		0.7		—
Total assets	$	1.8	$	1.1	$	0.7	$	—

Liabilities:
Derivatives	$	3.9	$	—	$	3.9	$	—
Option agreement	1.7		—		—		1.7
Total Liabilities	$	5.6	$	—	$	3.9	$	1.7

At September 29, 2024, the Company held $489.3 million of U.S. Treasury bills which are classified as held-to maturity and carried at amortized cost, and were recorded in Short-term investments in the Company's Consolidated Balance Sheet. This amount reflects the proceeds from the Company’s $500 million debt offering completed in May 2024, which proceeds, together with available cash, are expected to be used to repay indebtedness of the Company due in November 2024.

The Company's derivatives primarily 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. There were no changes in these valuation techniques during the three and nine months ended September 29, 2024. There were no material changes to fair value measurements of the Company's financial instruments which use significant unobservable inputs (Level 3) for three and nine months ended September 29, 2024 and October 1, 2023.

Other Fair Value Measurements

The Company's financial instruments include cash and cash equivalents, accounts receivable, short-term borrowings, accounts payable and certain Accrued liabilities. At September 29, 2024, October 1, 2023 and December 31, 2023, the carrying cost of these instruments approximated their fair value. The Company's financial instruments at September 29, 2024, October 1, 2023 and December 31, 2023 also include certain assets and liabilities measured at fair value, as described above. See Note 8 for the fair value of the Company's outstanding debt.

- 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

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+ Details

Revenue Recognition - Accounts Receivable and Allowance for Credit Losses (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of the year	$ 12.7	$ 20.0
Charged to costs and expenses, net	4.6	2.8
Customer accounts written off—net of recoveries	(0.5)	(0.8)
Accounts Receivable, Reclassified To Assets Held For Sale	0.0	(1.4)
Foreign currency impact	(0.6)	0.2
Ending balance	$ 16.2	$ 20.8

Derivative Financial Instruments - Net Gains (Losses) on Cash Flow Hedges Activities (Details) - Cash Flow Hedging - Foreign Exchange Forward - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Net realized (losses) gains	$ (0.1)	$ 2.9	$ 0.7	$ 2.0
Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Net realized (losses) gains	(0.6)	1.8	(0.7)	0.5
Net revenues
Derivative Instruments, Gain (Loss) [Line Items]
Net realized (losses) gains	0.8	(0.1)	1.4	(0.2)
Other
Derivative Instruments, Gain (Loss) [Line Items]
Net realized (losses) gains	$ (0.3)	$ 1.2	$ 0.0	$ 1.7

Additional Balance Sheet Information

9 Months Ended

Sep. 29, 2024

Payables and Accruals [Abstract]

Additional Balance Sheet Information

Components of Accrued liabilities for the periods ended September 29, 2024, October 1, 2023 and December 31, 2023 were as follows:


	September 29, 2024		October 1, 2023		December 31, 2023
Royalties	$	335.4	$	148.9	$	286.8
Deferred revenue	103.2		112.1		101.6
Lag & cancellation charges	51.2		83.0		118.9
Dividends (1)	—		97.1		97.2
Severance	51.0		55.5		83.7
Accrued income taxes	99.3		27.3		61.6
Other taxes	60.5		63.8		68.7
Interest	49.5		38.1		29.9
General vendor accruals	57.8		57.9		51.9
Participations and residuals	18.3		30.4		34.0
Advertising	70.0		52.3		45.0
Lease liability - current	32.2		28.1		30.5
Payroll and management incentives	79.8		63.8		85.6
Defined contribution plans	16.0		27.3		29.7
Freight	34.7		32.3		22.9
Insurance	12.3		12.2		13.3
Professional fees	18.6		16.0		12.4
Accrued expenses - IIP & IIC	0.5		2.7		0.7
Other	42.2		36.6		41.4
Total accrued liabilities	$	1,132.5	$	985.4	$	1,215.8

(1) During the fourth quarter of 2024, the Board of Directors declared a quarterly cash dividend of $0.70 per common share payable on December 4, 2024, to shareholders of record at the close of business on November 24, 2024.

Prepaid expenses and other current assets include accrued income, current of $173.6 million, $92.0 million, and $85.6 million as of September 29, 2024, October 1, 2023 and December 31, 2023, respectively.

Other assets include deferred tax assets of $407.1 million, $251.7 million, and $427.9 million as of September 29, 2024, October 1, 2023 and December 31, 2023, respectively, and content assets of $145.1 million, $196.5 million, and $162.8 million as of September 29, 2024, October 1, 2023 and December 31, 2023, respectively

Other Comprehensive Earnings (Loss) - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023	Sep. 26, 2021	Dec. 31, 2023	Dec. 27, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive loss	$ 227.8	$ 208.4	$ 227.8	$ 208.4		$ 201.5
Net losses expected to be reclassified within next 12 months			$ 0.4
3.15% Notes Due 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Debt stated interest rate (as a percent)							3.15%
Repayments of debt					$ 300.0
5.10% Notes Due 2044
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Debt stated interest rate (as a percent)	5.10%		5.10%
Interest Rate Contract \| Interest Expense
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Deferred losses reclassified from AOCE to net earnings	$ 0.2	$ 0.2	$ 0.5	$ 0.5
Gains (Losses) on Derivative Instruments \| Foreign Exchange Forward
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive loss	(0.2)		(0.2)
Gains (Losses) on Derivative Instruments \| Interest Rate Contract
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive loss	$ 13.5		$ 13.5

Other Comprehensive Earnings (Loss) (Tables)

9 Months Ended

Sep. 29, 2024

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 three and nine months ended September 29, 2024 and October 1, 2023.


	Three Months Ended				Nine Months Ended
	September 29, 2024		October 1, 2023		September 29, 2024		October 1, 2023
Other comprehensive earnings (loss), tax effect:
Tax benefit (expense) on cash flow hedging activities	$	0.4	$	(0.7)	$	(0.8)	$	1.6
Reclassifications to earnings (loss), tax effect:
Tax (benefit) expense on cash flow hedging activities	—		(0.9)		(0.5)		(1.4)
Amortization of unrecognized pension and postretirement amounts	—		—		—		0.1
Total tax effect on other comprehensive earnings (loss)	$	0.4	$	(1.6)	$	(1.3)	$	0.3

Schedule of Accumulated Other Comprehensive Earnings (Loss), Net of Tax

Changes in the components of Accumulated other comprehensive earnings (loss), net of tax for the nine months ended September 29, 2024 and October 1, 2023 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
2024
Balance at December 31, 2023	$	(4.2)	$	(16.8)	$	(0.1)	$	(180.4)	$	(201.5)
Current period other comprehensive earnings (loss)	(0.1)		1.9		—		(28.1)		(26.3)
Balance at September 29, 2024	$	(4.3)	$	(14.9)	$	(0.1)	$	(208.5)	$	(227.8)

2023
Balance at December 25, 2022	$	(3.0)	$	(12.0)	$	(0.1)	$	(239.8)	$	(254.9)
Current period other comprehensive earnings (loss)	(0.2)		0.3		—		46.4		46.5
Balance at October 1, 2023	$	(3.2)	$	(11.7)	$	(0.1)	$	(193.4)	$	(208.4)

Sale of Non-Core Entertainment One Film and TV Business (Tables)

9 Months Ended

Sep. 29, 2024

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Assets and Liabilities Held for Sale

The following table summarizes the assets and liabilities held for sale at October 1, 2023:


	October 1, 2023
Assets:
Cash and cash equivalents including restricted cash of $4.1 million	$	70.4
Accounts receivable, less allowance for doubtful accounts of $1.4 million	85.2
Inventories	2.7
Prepaid expenses and other current assets	402.6
Property, plant and equipment, less accumulated depreciation of $21.3 million	53.6
Other assets	891.5
Write-down loss allowance (1)	(457.3)
Total assets held for sale	$	1,048.7

Liabilities:
Short-term borrowings	$	141.9
Current portion of long-term debt	8.2
Accounts payable and accrued liabilities	404.4
Long-term debt	0.8
Other liabilities	52.1
Total liabilities held for sale	$	607.4

(1) In addition to the write-down loss allowance of $457.3 million, the Company also recognized $15.7 million of currency translation losses on the classification of held for sale. The pre-tax non-cash loss on assets held for sale of $473.0 million includes both the write-down allowance and the currency translation losses.

- 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

Revenue Recognition

9 Months Ended

Sep. 29, 2024

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue is recognized when control of the promised goods, functional intellectual property or production is transferred to the customers or licensees, in an amount that reflects the consideration the Company expects to be entitled to in exchange for transferring those goods. 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. The majority of the Company’s revenues are derived from sales of finished products to customers. See Note 1 of the Company's 2023 Annual Report for the Company's revenue recognition accounting policy.

Contract Assets and Liabilities

In the ordinary course of business, the Company’s Consumer Products, Wizards of the Coast and Digital Gaming and Entertainment segments enter into contracts to license certain of the Company’s intellectual property, providing licensees right-to-use or access such intellectual property for use in the production and sale of consumer products and digital game development, and for use within content for distribution over streaming platforms and for television and film. The Company also licenses owned television and film content for distribution to third parties in formats that include broadcast, digital streaming and theatrical. Through these arrangements, the Company may receive advanced royalty payments from licensees, either in advance of a licensees’ subsequent sales to customers or, prior to the completion of the Company’s performance obligation. In addition, the Company’s Wizards of the Coast and Digital Gaming segment may receive advanced payments from end users of its digital games at the time of the initial purchase, through in-application purchases or through subscription services. These digital gaming revenues are recognized over a period of time, determined based on player usage patterns or the estimated playing life of the user, or when additional downloadable content is made available, or as with subscription services, ratably over the subscription term. The Company defers revenues on all licensee and digital gaming advanced payments until the respective performance obligations are satisfied. The Company records the aggregate deferred revenues as contract liabilities, with the current portion recorded within Accrued liabilities and the long-term portion recorded as Other non-current liabilities in the Company’s Consolidated Balance Sheets. The Company records contract assets, primarily related to (1) minimum guarantees being recognized in advance of contractual invoicing, which are recognized ratably over the terms of the respective license periods, and (2) film and television distribution revenues recorded for content delivered, where payment will occur over the license term. The current portion of contract assets is recorded in Prepaid expenses and Other current assets and the long-term portion is recorded within Other long-term assets.

The changes in carrying amounts of contract assets and liabilities for the nine months ended September 29, 2024 and October 1, 2023 are as follows:


	September 29, 2024		October 1, 2023
Assets
Balance at beginning of the year	$	213.3	$	594.4
Recognized in current year	252.9		389.4
Amounts reclassified to accounts receivable	(221.9)		(427.4)
Reclassified to assets held for sale (1)	—		(384.6)
Foreign currency impact	(1.8)		(5.3)
Ending Balance	$	242.5	$	166.5

Liabilities
Balance at beginning of the year	$	230.8	$	113.0
Recognized in current year	168.1		254.5
Amounts in beginning balance reclassified to revenue	(53.1)		(68.3)
Current year amounts reclassified to revenue	(96.0)		(156.6)
Reclassified to liabilities held for sale (1)	—		(27.5)
Foreign currency impact	7.1		(2.1)
Ending Balance	$	256.9	$	113.0

(1) See Note 3 for additional information on assets and liabilities held for sale.

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 29, 2024, unrecognized revenue attributable to unsatisfied performance obligations expected to be recognized in the future was $2.7 million. Of this amount, we expect to recognize $0.6 million in the remainder of 2024 and $2.1 million in 2025. These amounts include only fixed consideration.

Accounts Receivable and Allowance for Credit Losses

The Company’s balance for accounts receivable on the Consolidated Balance Sheets as of September 29, 2024 and October 1, 2023 are primarily from contracts with customers. A summary of the activity in the allowance for credit losses for the nine months ended September 29, 2024 and October 1, 2023 are as follows:


	September 29, 2024		October 1, 2023

Balance at beginning of the year	$	12.7	$	20.0
Charged to costs and expenses, net	4.6		2.8
Customer accounts written off—net of recoveries	(0.5)		(0.8)
Reclassified to assets held for sale (1)	—		(1.4)
Foreign currency impact	(0.6)		0.2
Ending balance	$	16.2	$	20.8

(1) See Note 3 for additional information on assets held for sale.

Disaggregation of revenues

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

Effective in the first quarter of 2024, subsequent to the sale of the eOne Film and TV business (as defined in Note 3), the Company moved the remaining Non-Hasbro Branded Film & TV brands into Portfolio Brands to align with the Company's Brand Strategy. For comparability, net revenues for the three and nine months ended October 1, 2023, have been reclassified to reflect the movement, resulting in a change of $0.3 million and $1.2 million, respectively.

The following table represents consolidated Consumer Products segment net revenues by major geographic region for the three and nine months ended September 29, 2024 and October 1, 2023:


	Three Months Ended				Nine Months Ended
	September 29, 2024		October 1, 2023		September 29, 2024		October 1, 2023
North America	$	526.8	$	573.6	$	1,072.0	$	1,234.7
Europe	162.3		208.7		341.8		472.2
Asia Pacific	81.9		61.8		193.3		191.5
Latin America	89.1		112.8		190.5		234.1
Net revenues	$	860.1	$	956.9	$	1,797.6	$	2,132.5

The following table represents consolidated Wizards of the Coast and Digital Gaming segment net revenues by category for the three and nine months ended September 29, 2024 and October 1, 2023:


	Three Months Ended				Nine Months Ended
	September 29, 2024		October 1, 2023		September 29, 2024		October 1, 2023
Tabletop Gaming	$	296.8	$	290.5	$	832.6	$	806.9
Digital and Licensed Gaming	107.2		133.1		339.7		287.5
Net revenues	$	404.0	$	423.6	$	1,172.3	$	1,094.4

The following table represents consolidated Entertainment segment net revenues by category for the three and nine months ended September 29, 2024 and October 1, 2023:


	Three Months Ended				Nine Months Ended
	September 29, 2024		October 1, 2023		September 29, 2024		October 1, 2023
Film and TV (1)	$	1.6	$	102.1	$	3.4	$	423.8
Family Brands	15.6		20.8		60.6		63.7
Net revenues	$	17.2	$	122.9	$	64.0	$	487.5

(1) Net revenues from the Company's Film and TV portfolio were primarily associated with the Company's non-core eOne Film and TV business sold to Lionsgate during the fourth quarter of 2023.

The following table presents consolidated net revenues by brand portfolio for the three and nine months ended September 29, 2024 and October 1, 2023:


	Three Months Ended				Nine Months Ended
	September 29, 2024		October 1, 2023		September 29, 2024		October 1, 2023
Franchise Brands	$	941.6	$	1,011.0	$	2,334.7	$	2,412.8
Partner Brands	190.1		228.2		402.4		533.8
Portfolio Brands	149.6		170.6		296.8		370.6
Non-Hasbro Branded Film & TV (1)	—		93.6		—		397.2
Net revenues	$	1,281.3	$	1,503.4	$	3,033.9	$	3,714.4

(1) Net revenues from the Company's Non-Hasbro-branded Film and TV portfolio were associated with the Company's non-core eOne Film and TV business sold to Lionsgate during the fourth quarter of 2023.

- 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.

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+ Details

Revenue Recognition - Net Revenues by Brand Portfolio (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Revenue from External Customer [Line Items]
Net revenues	$ 1,281.3	$ 1,503.4	$ 3,033.9	$ 3,714.4
Franchise Brands
Revenue from External Customer [Line Items]
Net revenues	941.6	1,011.0	2,334.7	2,412.8
Partner Brands
Revenue from External Customer [Line Items]
Net revenues	190.1	228.2	402.4	533.8
Portfolio Brands
Revenue from External Customer [Line Items]
Net revenues	149.6	170.6	296.8	370.6
Non-Hasbro Branded Film & TV
Revenue from External Customer [Line Items]
Net revenues	$ 0.0	$ 93.6	$ 0.0	$ 397.2

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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+ Details

Fair Value of Financial Instruments - Fair Value Hierarchy (Details) - USD ($) $ in Millions	Sep. 29, 2024	Dec. 31, 2023	Oct. 01, 2023
Assets:
Short-term investments	$ 489.3	$ 0.0	$ 0.0
Fair Value, Recurring
Assets:
Short-term investments	489.3
Available-for-sale securities	0.6	1.1	1.2
Derivatives	3.4	0.7	8.3
Total assets	493.3	1.8	9.5
Liabilities:
Derivatives	5.9	3.9	2.1
Option agreement	1.7	1.7	1.7
Total liabilities	7.6	5.6	3.8
Fair Value, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Short-term investments	489.3
Available-for-sale securities	0.6	1.1	1.2
Derivatives	0.0	0.0	0.0
Total assets	489.9	1.1	1.2
Liabilities:
Derivatives	0.0	0.0	0.0
Option agreement	0.0	0.0	0.0
Total liabilities	0.0	0.0	0.0
Fair Value, Recurring \| Significant Other Observable Inputs (Level 2)
Assets:
Short-term investments	0.0
Available-for-sale securities	0.0	0.0	0.0
Derivatives	3.4	0.7	8.3
Total assets	3.4	0.7	8.3
Liabilities:
Derivatives	5.9	3.9	2.1
Option agreement	0.0	0.0	0.0
Total liabilities	5.9	3.9	2.1
Fair Value, Recurring \| Significant Unobservable Inputs (Level 3)
Assets:
Short-term investments	0.0
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	1.7	1.7	1.7
Total liabilities	$ 1.7	$ 1.7	$ 1.7

Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 29, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Cash Flow Hedging Instruments

At September 29, 2024, October 1, 2023 and December 31, 2023, the notional amounts and fair values of the Company's foreign currency forward contracts designated as cash flow hedging instruments were as follows:


	September 29, 2024				October 1, 2023				December 31, 2023
Hedged transaction	Notional Amount		Fair Value		Notional Amount		Fair Value		Notional Amount		Fair Value
Inventory purchases	$	164.7	$	1.3	$	194.4	$	3.4	$	129.9	$	(1.7)
Sales	104.6		(3.2)		113.4		0.8		89.7		(0.2)
Royalties and Other	26.4		1.5		70.5		(0.9)		31.7		(0.5)
Total	$	295.7	$	(0.4)	$	378.3	$	3.3	$	251.3	$	(2.4)

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location

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 29, 2024, October 1, 2023 and December 31, 2023 as follows:


	September 29, 2024		October 1, 2023		December 31, 2023
Prepaid expenses and other current assets
Unrealized gains	$	3.1	$	5.9	$	0.5
Unrealized losses	(0.2)		(2.0)		(0.1)
Net unrealized gains	$	2.9	$	3.9	$	0.4

Other assets
Unrealized gains	$	0.5	$	1.5	$	—
Unrealized losses	—		(0.1)		—
Net unrealized gains	$	0.5	$	1.4	$	—

Accrued liabilities
Unrealized gains	$	1.0	$	0.4	$	0.7
Unrealized losses	(4.0)		(2.4)		(3.5)
Net unrealized losses	$	(3.0)	$	(2.0)	$	(2.8)

Other liabilities
Unrealized gains	$	0.1	$	—	$	—
Unrealized losses	(1.0)		—		—
Net unrealized losses	$	(0.9)	$	—	$	—

Schedule of Derivative Instruments, Gain (Loss) in Statement of Operations

Net gains (losses) on cash flow hedging activities have been reclassified from other comprehensive earnings (loss) to net earnings for the three and nine months ended September 29, 2024 and October 1, 2023 as follows:


	Three Months Ended				Nine Months Ended
	September 29, 2024		October 1, 2023		September 29, 2024		October 1, 2023
Statements of Operations Classification
Cost of sales	$	(0.6)	$	1.8	$	(0.7)	$	0.5
Net revenues	0.8		(0.1)		1.4		(0.2)
Other	(0.3)		1.2		—		1.7
Net realized (losses) gains	$	(0.1)	$	2.9	$	0.7	$	2.0

Schedule of Fair Values of Undesignated Derivative Financial Instruments

At September 29, 2024, October 1, 2023 and December 31, 2023, the fair values of the Company's undesignated derivative financial instruments were recorded in the Consolidated Balance Sheets as follows:


	September 29, 2024		October 1, 2023		December 31, 2023
Prepaid expenses and other current assets
Unrealized gains	$	—	$	10.7	$	0.3
Unrealized losses	—		(7.7)		—
Net unrealized gains	$	—	$	3.0	$	0.3

Accrued liabilities
Unrealized gains	$	0.2	$	—	$	1.4
Unrealized losses	(2.2)		(0.1)		(2.5)
Net unrealized losses	$	(2.0)	$	(0.1)	$	(1.1)

- 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.

+ References + Details

Revenue Recognition - Net Revenues by Geographic Regions (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Revenue from External Customer [Line Items]
Net revenues	$ 1,281.3	$ 1,503.4	$ 3,033.9	$ 3,714.4
Consumer Products \| Operating Segments
Revenue from External Customer [Line Items]
Net revenues	860.1	956.9	1,797.6	2,132.5
North America \| Consumer Products \| Operating Segments
Revenue from External Customer [Line Items]
Net revenues	526.8	573.6	1,072.0	1,234.7
Europe \| Consumer Products \| Operating Segments
Revenue from External Customer [Line Items]
Net revenues	162.3	208.7	341.8	472.2
Asia Pacific \| Consumer Products \| Operating Segments
Revenue from External Customer [Line Items]
Net revenues	81.9	61.8	193.3	191.5
Latin America \| Consumer Products \| Operating Segments
Revenue from External Customer [Line Items]
Net revenues	$ 89.1	$ 112.8	$ 190.5	$ 234.1

- 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.

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+ Details

Earnings (Loss) Per Share (Tables)

9 Months Ended

Sep. 29, 2024

Earnings Per Share [Abstract]

Schedule of Net Earnings (Loss) Per Share

Net earnings (loss) per share data for the three and nine months ended September 29, 2024 and October 1, 2023 were computed as follows:


	Three Months Ended				Nine Months Ended
	September 29, 2024		October 1, 2023		September 29, 2024		October 1, 2023
Net earnings (loss) attributable to Hasbro, Inc.	$	223.2	$	(171.1)	$	419.9	$	(428.2)

Average shares outstanding	139.5		138.8		139.3		138.7
Effect of dilutive securities:
Options and other share-based awards	1.0		—		0.7		—
Equivalent Shares	140.5		138.8		140.0		138.7

Net earnings (loss) attributable to Hasbro, Inc. per common share
Basic	$	1.60	$	(1.23)	$	3.01	$	(3.09)
Diluted	$	1.59	$	(1.23)	$	3.00	$	(3.09)

Goodwill

9 Months Ended

Sep. 29, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Changes in the carrying amount of goodwill, by operating segment, for the nine months ended September 29, 2024 and October 1, 2023 are as follows:


	Consumer Products		Wizards of the Coast and Digital Gaming		Entertainment (1)		Total
2024
Balance as of December 31, 2023	$	1,582.3	$	371.7	$	325.2	$	2,279.2
Foreign exchange translation	(0.1)		(0.2)		—		(0.3)
Balance as of September 29, 2024	$	1,582.2	$	371.5	$	325.2	$	2,278.9


	Consumer Products		Wizards of the Coast and Digital Gaming		Entertainment (1)		Total
2023
Balance as of December 25, 2022	$	1,584.7	$	371.5	$	1,513.9	$	3,470.1
Foreign exchange translation	(0.1)		—		—		(0.1)
Impairment during the period	—		—		(231.2)		(231.2)
Balance as of October 1, 2023	$	1,584.6	$	371.5	$	1,282.7	$	3,238.8

(1) During the fourth quarter of 2023, the Company recorded $960.0 million of non-cash goodwill impairment charges within the Entertainment segment. See further detail in the 2023 Annual Report.

During the nine months ended October 1, 2023, the Company recorded non-cash impairment charges of $296.2 million within the Entertainment segment. These impairment charges consisted of a $231.2 million goodwill impairment charge recorded within Impairment of goodwill and a $65.0 million intangible asset impairment charge, recorded in Selling, distribution and administration costs, within the Consolidated Statements of Operations for the nine months ended October 1, 2023.

Additional Balance Sheet Information (Tables)

9 Months Ended

Sep. 29, 2024

Payables and Accruals [Abstract]

Schedule of Components of Accrued Liabilities

Components of Accrued liabilities for the periods ended September 29, 2024, October 1, 2023 and December 31, 2023 were as follows:


	September 29, 2024		October 1, 2023		December 31, 2023
Royalties	$	335.4	$	148.9	$	286.8
Deferred revenue	103.2		112.1		101.6
Lag & cancellation charges	51.2		83.0		118.9
Dividends (1)	—		97.1		97.2
Severance	51.0		55.5		83.7
Accrued income taxes	99.3		27.3		61.6
Other taxes	60.5		63.8		68.7
Interest	49.5		38.1		29.9
General vendor accruals	57.8		57.9		51.9
Participations and residuals	18.3		30.4		34.0
Advertising	70.0		52.3		45.0
Lease liability - current	32.2		28.1		30.5
Payroll and management incentives	79.8		63.8		85.6
Defined contribution plans	16.0		27.3		29.7
Freight	34.7		32.3		22.9
Insurance	12.3		12.2		13.3
Professional fees	18.6		16.0		12.4
Accrued expenses - IIP & IIC	0.5		2.7		0.7
Other	42.2		36.6		41.4
Total accrued liabilities	$	1,132.5	$	985.4	$	1,215.8

Earnings (Loss) Per Share - Additional Information (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, shares would have been included if no net loss (in shares)		1.9		1.7
Antidilutive securities excluded from computation of earnings per share, amount, treasury stock method (in shares)		0.4		0.2
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)	1.1	2.1	1.9	2.5

Investments in Productions and Investments in Acquired Content Rights - Program Costs Amortization (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Other Industries [Abstract]
Investment in production	$ 7.9	$ 60.3	$ 24.5	$ 294.5
Investment in content	0.0	8.1	0.0	30.8
Total program cost amortization	$ 7.9	$ 68.4	$ 24.5	$ 325.3

Segment Reporting

9 Months Ended

Sep. 29, 2024

Segment Reporting [Abstract]

Segment Reporting

Hasbro is a game, toy, and intellectual property 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. The Company's reportable segments are Consumer Products, Wizards of the Coast and Digital Gaming, Entertainment and Corporate and Other.

•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. Additionally, through license agreements with third parties, we develop and sell products based on popular third-party brands.

•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. Additionally, we license certain of our brands to other third-party digital game developers who transform Hasbro brand-based characters and other intellectual properties, into digital gaming experiences.

•The Entertainment segment engages in the development and production of Hasbro-branded entertainment content including film, television, children's programming, digital content and live entertainment focused on Hasbro-owned properties.

•Corporate and Other provides management and administrative services to the Company's principal reporting segments described above and consists of unallocated corporate expenses and administrative costs and activities not considered when evaluating segment performance as well as certain assets benefiting more than one segment.

Information by segment and a reconciliation to reported amounts for the three and nine months ended September 29, 2024 and October 1, 2023 are as follows:


	Three Months Ended				Nine Months Ended
	September 29, 2024		October 1, 2023		September 29, 2024		October 1, 2023
Net revenues:
Consumer Products	$	860.1	$	956.9	$	1,797.6	$	2,132.5
Wizards of the Coast and Digital Gaming	404.0		423.6		1,172.3		1,094.4
Entertainment	17.2		122.9		64.0		487.5
Corporate and Other	—		—		—		—
Total net revenues	$	1,281.3	$	1,503.4	$	3,033.9	$	3,714.4

Intercompany revenues: (1)
Consumer Products	$	75.6	$	72.7	$	179.6	$	226.8
Wizards of the Coast and Digital Gaming	46.0		43.5		119.9		136.6
Entertainment	17.2		14.8		37.7		39.4
Corporate and Other	(138.8)		(131.0)		(337.2)		(402.8)
Total intercompany revenues:	$	—	$	—	$	—	$	—

Operating profit (loss):
Consumer Products (2)	$	121.0	$	96.1	$	64.8	$	61.5
Wizards of the Coast and Digital Gaming	181.2		203.4		551.1		422.5
Entertainment (3)	9.8		(468.5)		14.6		(801.4)
Corporate and Other (3) (4)	(10.1)		(0.5)		(0.3)		(22.8)
Total Operating profit (loss)	301.9		(169.5)		630.2		(340.2)
Interest expense	46.2		47.1		127.7		140.0
Interest income	(14.7)		(3.8)		(36.0)		(15.6)
Other non-operating expense (income)	(19.9)		2.2		(15.7)		(0.7)
Earnings (loss) before income taxes	$	290.3	$	(215.0)	$	554.2	$	(463.9)

(1) Amounts represent revenues from transactions with other operating segments that are included in the operating profit (loss) of the segment.

(2) During the nine months ended September 29, 2024, the Company recorded two non-recurring prior year adjustments: (i) a $31.1 million expense related to historical environmental exposures, and (ii) a $26.7 million benefit related to over-accrual of vendor commitment liabilities. See Note 1 for further information. Both of these originally related to the Consumer Products segment; however, because the non-recurring nature of these adjustments are related to historical periods and not associated with the on-going future operations of the Consumer Products segment, the Company recorded the error corrections within the Corporate and Other segment.

(3) 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.

(4) Corporate and Other Operating profit (loss) includes Operational Excellence related transformation office and consulting fees of $6.0 million and $18.5 million for the three and nine months ended September 29, 2024, respectively, and $8.4 million and $29.4 million for the three and nine months ended October 1, 2023, respectively, which are recorded within Selling, distribution and administration costs within the Consolidated Statements of Operations. Third party consultants were engaged to assist the Company in performing a comprehensive review of operations and developing a transformation plan designed to support the organization in identifying, realizing, and capturing savings through the identification of organizational initiatives intended to create efficiencies and improve business processes and operations. The consultants assisted in providing benchmark data and are currently assisting with the design of an improved operating model and supply chain function. The Company expects this consulting assistance to conclude within 2024 in line with the transformation plans.

- 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.

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+ Details

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 29, 2024	Dec. 31, 2023	Oct. 01, 2023
Statement of Financial Position [Abstract]
Restricted cash	$ 0.3	$ 0.6	$ 1.1
Property, plant and equipment, accumulated depreciation	643.2	618.9	603.3
Other intangibles, accumulated amortization	$ 1,350.5	$ 1,296.9	$ 1,229.3
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)	80,798,468	81,498,181	81,541,637

Other Comprehensive Earnings (Loss) - Changes in Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Other comprehensive earnings (loss), tax effect:
Tax benefit (expense) on cash flow hedging activities	$ 0.4	$ (0.7)	$ (0.8)	$ 1.6
Reclassifications to earnings (loss), tax effect:
Tax (benefit) expense on cash flow hedging activities	0.0	(0.9)	(0.5)	(1.4)
Amortization of unrecognized pension and postretirement amounts	0.0	0.0	0.0	0.1
Total tax effect on other comprehensive earnings (loss)	$ 0.4	$ (1.6)	$ (1.3)	$ 0.3

Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Income Statement [Abstract]
Net revenues	$ 1,281.3	$ 1,503.4	$ 3,033.9	$ 3,714.4
Costs and expenses:
Cost of sales	378.9	494.5	820.8	1,132.0
Program cost amortization	7.9	68.4	24.5	325.3
Royalties	98.0	106.9	204.2	295.8
Product development	76.3	76.7	212.2	232.4
Advertising	101.9	81.9	213.8	249.8
Amortization of intangibles	17.1	19.2	51.2	65.1
Impairment of goodwill	0.0	0.0	0.0	231.2
Loss on disposal of business	0.0	473.0	24.4	473.0
Selling, distribution and administration	299.3	352.3	852.6	1,050.0
Total costs and expenses	979.4	1,672.9	2,403.7	4,054.6
Operating profit (loss)	301.9	(169.5)	630.2	(340.2)
Non-operating expense (income):
Interest expense	46.2	47.1	127.7	140.0
Interest income	(14.7)	(3.8)	(36.0)	(15.6)
Other (income) expense, net	(19.9)	2.2	(15.7)	(0.7)
Total non-operating expense, net	11.6	45.5	76.0	123.7
Earnings (loss) before income taxes	290.3	(215.0)	554.2	(463.9)
Income tax expense (benefit)	67.0	(44.6)	133.3	(36.9)
Net earnings (loss)	223.3	(170.4)	420.9	(427.0)
Net earnings attributable to noncontrolling interests	0.1	0.7	1.0	1.2
Net earnings (loss) attributable to Hasbro, Inc.	$ 223.2	$ (171.1)	$ 419.9	$ (428.2)
Net earnings (loss) per common share:
Basic (in dollars per share)	$ 1.60	$ (1.23)	$ 3.01	$ (3.09)
Diluted (in dollars per share)	1.59	(1.23)	3.00	(3.09)
Cash dividends declared per common share (in dollars per share)	$ 0.70	$ 0.70	$ 1.40	$ 2.10

Earnings (Loss) Per Share - Net Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Earnings Per Share [Abstract]
Net earnings (loss) attributable to Hasbro, Inc.	$ 223.2	$ (171.1)	$ 419.9	$ (428.2)
Average shares outstanding, basic (in shares)	139.5	138.8	139.3	138.7
Options and other share-based awards (in shares)	1.0	0.0	0.7	0.0
Equivalent shares, diluted (in shares)	140.5	138.8	140.0	138.7
Net earnings (loss) attributable to Hasbro, Inc. per common share, basic (in dollars per share)	$ 1.60	$ (1.23)	$ 3.01	$ (3.09)
Net earnings (loss) attributable to Hasbro, Inc. per common share, diluted (in dollars per share)	$ 1.59	$ (1.23)	$ 3.00	$ (3.09)

- Definition

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

+ References

+ Details

- Definition

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.

+ References

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- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

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+ Details

Debt (Tables)

9 Months Ended

Sep. 29, 2024

Debt Disclosure [Abstract]

Schedule of Long-term Borrowings


	September 29, 2024				October 1, 2023				December 31, 2023
	Carrying Cost		Fair Value		Carrying Cost		Fair Value		Carrying Cost		Fair Value
3.90% Notes Due 2029	$	900.0	$	869.5	$	900.0	$	797.4	$	900.0	$	839.8
3.55% Notes Due 2026	675.0		662.4		675.0		629.3		675.0		641.0
3.00% Notes Due 2024	500.0		498.2		500.0		483.2		500.0		488.4
6.35% Notes Due 2040	500.0		536.5		500.0		483.7		500.0		520.1
3.50% Notes Due 2027	500.0		486.6		500.0		461.4		500.0		472.2
6.05% Notes Due 2034	500.0		526.5		—		—		—		—
5.10% Notes Due 2044	300.0		279.7		300.0		245.1		300.0		271.6
6.60% Debentures Due 2028	109.9		117.5		109.9		113.0		109.9		116.0
Variable % Notes Due December 30, 2024 (1)	—		—		250.0		250.0		—		—
Production Financing Facilities (2)	—		—		—		—		—		—
Total long-term debt	$	3,984.9	$	3,976.9	$	3,734.9	$	3,463.1	$	3,484.9	$	3,349.1
Less: Deferred debt expenses	22.3		—		20.3		—		19.1		—
Less: Current portion	500.0		—		60.0		—		500.0		—
Long-term debt	$	3,462.6	$	3,976.9	$	3,654.6	$	3,463.1	$	2,965.8	$	3,349.1

(1) During the fourth quarter of 2023, the Company paid the remaining principal balance of the Variable % Notes Due December 30, 2024.

- 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.

+ References

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+ Details

Derivative Financial Instruments - Cash Flow Hedging Instruments (Details) - Designated as Hedging Instrument - Cash Flow Hedging - USD ($) $ in Millions	Sep. 29, 2024	Dec. 31, 2023	Oct. 01, 2023
Derivative [Line Items]
Notional Amount	$ 295.7	$ 251.3	$ 378.3
Fair Value	(0.4)	(2.4)	3.3
Inventory purchases
Derivative [Line Items]
Notional Amount	164.7	129.9	194.4
Fair Value	1.3	(1.7)	3.4
Sales
Derivative [Line Items]
Notional Amount	104.6	89.7	113.4
Fair Value	(3.2)	(0.2)	0.8
Royalties and Other
Derivative [Line Items]
Notional Amount	26.4	31.7	70.5
Fair Value	$ 1.5	$ (0.5)	$ (0.9)

Segment Reporting (Tables)

9 Months Ended

Sep. 29, 2024

Segment Reporting [Abstract]

Schedule of Information by Segment and Reconciliation to Reported Amounts

Information by segment and a reconciliation to reported amounts for the three and nine months ended September 29, 2024 and October 1, 2023 are as follows:


	Three Months Ended				Nine Months Ended
	September 29, 2024		October 1, 2023		September 29, 2024		October 1, 2023
Net revenues:
Consumer Products	$	860.1	$	956.9	$	1,797.6	$	2,132.5
Wizards of the Coast and Digital Gaming	404.0		423.6		1,172.3		1,094.4
Entertainment	17.2		122.9		64.0		487.5
Corporate and Other	—		—		—		—
Total net revenues	$	1,281.3	$	1,503.4	$	3,033.9	$	3,714.4

Intercompany revenues: (1)
Consumer Products	$	75.6	$	72.7	$	179.6	$	226.8
Wizards of the Coast and Digital Gaming	46.0		43.5		119.9		136.6
Entertainment	17.2		14.8		37.7		39.4
Corporate and Other	(138.8)		(131.0)		(337.2)		(402.8)
Total intercompany revenues:	$	—	$	—	$	—	$	—

Operating profit (loss):
Consumer Products (2)	$	121.0	$	96.1	$	64.8	$	61.5
Wizards of the Coast and Digital Gaming	181.2		203.4		551.1		422.5
Entertainment (3)	9.8		(468.5)		14.6		(801.4)
Corporate and Other (3) (4)	(10.1)		(0.5)		(0.3)		(22.8)
Total Operating profit (loss)	301.9		(169.5)		630.2		(340.2)
Interest expense	46.2		47.1		127.7		140.0
Interest income	(14.7)		(3.8)		(36.0)		(15.6)
Other non-operating expense (income)	(19.9)		2.2		(15.7)		(0.7)
Earnings (loss) before income taxes	$	290.3	$	(215.0)	$	554.2	$	(463.9)

(1) Amounts represent revenues from transactions with other operating segments that are included in the operating profit (loss) of the segment.

Restructuring Actions - Restructuring Charges (Details) - Operational Excellence Program $ in Millions	Sep. 29, 2024 USD ($)
Restructuring Cost and Reserve [Line Items]
Charges incurred to date	$ 140.1
Estimated charges to be incurred on approved initiatives	0.0
Total expected charges on approved initiatives	$ 140.1

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Goodwill - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Non-cash impairment charges				$ 296.2
Impairment of goodwill	$ 0.0	$ 0.0	$ 0.0	231.2
Intangible asset impairment charge				$ 65.0

Cover - shares	9 Months Ended
Cover - shares	Sep. 29, 2024	Oct. 28, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 29, 2024
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		139,501,418
Entity Central Index Key	0000046080
Current Fiscal Year End Date	--12-29
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

Restructuring Actions

9 Months Ended

Sep. 29, 2024

Restructuring and Related Activities [Abstract]

Restructuring Actions

During 2018 and 2020, the Company took certain restructuring actions including headcount reduction aimed at right-sizing the Company’s cost-structure and integration actions related to the acquisition of eOne. As of September 29, 2024, the Company had a remaining balance of $0.6 million in severance and other employee expenses related to these programs included within Other accrued liabilities in the Consolidated Balance Sheets, after making payments of $1.9 million during the nine months ended September 29, 2024. Substantially all of the remaining cash payments related to these programs are expected to be made by the end of 2024.

During 2022 and 2023, Hasbro implemented its Operational Excellence program ("the Program"), an ongoing enterprise-wide initiative intended to improve our business through programs that include targeted cost-savings, supply chain transformation and certain other restructuring actions designed to drive growth and enhance shareholder value. The Company's organizational structure changes have resulted and will further result in workforce reductions as well as the reallocation of people and resources, which will include voluntary early retirement for certain groups of employees and additional involuntary reduction in employees ("Additional Actions"). The Company currently anticipates that the Additional Actions will be substantially complete over the next 18 to 24 months.

Charges related to the Program were recorded in Selling, distribution and administration within Corporate and Other. Going forward, the Company may implement further cost-saving initiatives under the Program that could result in additional restructuring charges including severance and other employee charges.

As of September 29, 2024, the liability balance associated with the Program related restructuring actions consisted of severance payments recorded within Other accrued liabilities in the Consolidated Balance Sheets as follows:


	Nine Months Ended
Operational Excellence	September 29, 2024		October 1, 2023
Balance at beginning of the year	$	81.2	$	84.9
Charges	7.8		—
Payments	(40.1)		(33.9)
Ending Balance	$	48.9	$	51.0

The following table presents the restructuring charges incurred to date under the Program, along with the estimated charges expected to be incurred on approved initiatives under the Program as of September 29, 2024:


Operational Excellence	Total
Charges incurred to date	$	140.1
Estimated charges to be incurred on approved initiatives	—
Total expected charges on approved initiatives	$	140.1

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Loss Contingencies [Line Items]
Selling, distribution and administration	$ 299.3	$ 352.3	$ 852.6	$ 1,050.0
Revision of Prior Period, Error Correction, Adjustment
Loss Contingencies [Line Items]
Selling, distribution and administration			$ 31.1

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Investments in Productions and Investments in Acquired Content Rights

9 Months Ended

Sep. 29, 2024

Other Industries [Abstract]

Investment in Productions and Investments in Acquired Content Rights

Investments in Productions and Investments in Acquired Content Rights

Investments 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 title 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 29, 2024, October 1, 2023, and December 31, 2023:


	September 29, 2024		October 1, 2023		December 31, 2023
Investment in Films and Television Programs: (1)
Individual Monetization
Released, net of amortization	$	73.7	$	78.3	$	74.7
Completed and not released	—		—		5.1
In production	12.3		27.2		27.1
Pre-production	4.8		18.4		10.4
	90.8		123.9		117.3
Film/TV Group Monetization
Released, net of amortization	42.5		14.6		26.0
In production	—		33.2		23.6
	42.5		47.8		49.6
Investment in Other Programming
Released, net of amortization	5.0		16.5		16.1
Completed and not released	—		—		—
In production	5.9		6.8		0.8
Pre-production	0.9		1.5		0.8
	11.8		24.8		17.7
Total Program Investments	$	145.1	$	196.5	$	184.6

(1) Investments in productions and investments in acquired content totaling $734.8 million were removed from the Company's balance sheet as of December 31, 2023, in connection with the sale of the eOne Film and TV business completed on December 27, 2023. See Note 3 for additional information.

The Company's program cost amortization related to released programming during the three and nine months ended September 29, 2024 and October 1, 2023, consist of the following:


	Three Months Ended				Nine Months Ended
	September 29, 2024		October 1, 2023		September 29, 2024		October 1, 2023
Investment in production	$	7.9	$	60.3	$	24.5	$	294.5
Investment in content	—		8.1		—		30.8
Total program cost amortization	$	7.9	$	68.4	$	24.5	$	325.3

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended						9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Sep. 29, 2024	Jun. 30, 2024	Mar. 31, 2024	Oct. 01, 2023	Jul. 02, 2023	Apr. 02, 2023	Sep. 29, 2024	Oct. 01, 2023
Pay vs Performance Disclosure
Net earnings (loss) attributable to Hasbro, Inc.	$ 223.2	$ 138.5	$ 58.2	$ (171.1)	$ (235.0)	$ (22.1)	$ 419.9	$ (428.2)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7

Reference 34: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B

Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Debt - Long-term Borrowings (Details) - USD ($) $ in Millions	Sep. 29, 2024	Dec. 31, 2023	Oct. 01, 2023
Debt Instrument [Line Items]
Carrying Cost	$ 3,984.9	$ 3,484.9	$ 3,734.9
Less: Deferred debt expenses	22.3	19.1	20.3
Less: Current portion	500.0	500.0	60.0
Long-term debt, carrying cost	3,462.6	2,965.8	3,654.6
Fair Value	3,976.9	3,349.1	3,463.1
Long-term debt, fair value	$ 3,976.9	3,349.1	3,463.1
3.90% Notes Due 2029
Debt Instrument [Line Items]
Debt stated interest rate (as a percent)	3.90%
Carrying Cost	$ 900.0	900.0	900.0
Fair Value	$ 869.5	839.8	797.4
3.55% Notes Due 2026
Debt Instrument [Line Items]
Debt stated interest rate (as a percent)	3.55%
Carrying Cost	$ 675.0	675.0	675.0
Fair Value	$ 662.4	641.0	629.3
3.00% Notes Due 2024
Debt Instrument [Line Items]
Debt stated interest rate (as a percent)	3.00%
Carrying Cost	$ 500.0	500.0	500.0
Fair Value	$ 498.2	488.4	483.2
6.35% Notes Due 2040
Debt Instrument [Line Items]
Debt stated interest rate (as a percent)	6.35%
Carrying Cost	$ 500.0	500.0	500.0
Fair Value	$ 536.5	520.1	483.7
3.50% Notes Due 2027
Debt Instrument [Line Items]
Debt stated interest rate (as a percent)	3.50%
Carrying Cost	$ 500.0	500.0	500.0
Fair Value	$ 486.6	472.2	461.4
6.05% Notes Due 2034
Debt Instrument [Line Items]
Debt stated interest rate (as a percent)	6.05%
Carrying Cost	$ 500.0	0.0	0.0
Fair Value	$ 526.5	0.0	0.0
5.10% Notes Due 2044
Debt Instrument [Line Items]
Debt stated interest rate (as a percent)	5.10%
Carrying Cost	$ 300.0	300.0	300.0
Fair Value	$ 279.7	271.6	245.1
6.60% Debentures Due 2028
Debt Instrument [Line Items]
Debt stated interest rate (as a percent)	6.60%
Carrying Cost	$ 109.9	109.9	109.9
Fair Value	117.5	116.0	113.0
Variable % Notes Due December 30, 2024
Debt Instrument [Line Items]
Carrying Cost	0.0	0.0	250.0
Fair Value	0.0	0.0	250.0
Production Financing Facilities
Debt Instrument [Line Items]
Carrying Cost	0.0	0.0	0.0
Fair Value	$ 0.0	$ 0.0	$ 0.0

Derivative Financial Instruments - Additional Information (Details) - Foreign Exchange Forward - Fair Value Hedging - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023	Dec. 31, 2023
Derivative [Line Items]
Net gains on derivative	$ 4.5	$ 15.1	$ 8.7	$ 26.4
Not Designated as Hedging Instrument
Derivative [Line Items]
Notional amount	$ 267.4	$ 807.5	$ 267.4	$ 807.5	$ 340.5

Consolidated Statements of Shareholders' Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock	Noncontrolling Interests
Beginning balance at Dec. 25, 2022	$ 2,861.9	$ 110.1	$ 2,540.6	$ 4,071.4	$ (254.9)	$ (3,634.4)	$ 29.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss) attributable to Hasbro, Inc.	(22.1)			(22.1)
Net earnings attributable to noncontrolling interests	0.4						0.4
Other comprehensive earnings (loss)	17.5				17.5
Stock-based compensation transactions	(14.0)		(19.0)			5.0
Stock-based compensation expense	15.7		15.7
Dividends declared	(97.0)		0.5	(97.5)
Buyout of redeemable noncontrolling interest	(2.1)		(2.1)
Distributions paid to noncontrolling owners and other foreign exchange	(1.6)						(1.6)
Ending balance at Apr. 02, 2023	2,758.7	110.1	2,535.7	3,951.8	(237.4)	(3,629.4)	27.9
Beginning balance at Dec. 25, 2022	2,861.9	110.1	2,540.6	4,071.4	(254.9)	(3,634.4)	29.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss) attributable to Hasbro, Inc.	(428.2)
Other comprehensive earnings (loss)	46.5
Ending balance at Oct. 01, 2023	2,223.2	110.1	2,574.1	3,348.3	(208.4)	(3,626.3)	25.4
Beginning balance at Apr. 02, 2023	2,758.7	110.1	2,535.7	3,951.8	(237.4)	(3,629.4)	27.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss) attributable to Hasbro, Inc.	(235.0)			(235.0)
Net earnings attributable to noncontrolling interests	0.1						0.1
Other comprehensive earnings (loss)	23.9				23.9
Stock-based compensation transactions	(0.4)		(1.1)			0.7
Stock-based compensation expense	20.9		18.5			2.4
Dividends declared	(97.2)		1.5	(98.7)
Distributions paid to noncontrolling owners and other foreign exchange	(0.8)						(0.8)
Ending balance at Jul. 02, 2023	2,470.2	110.1	2,554.6	3,618.1	(213.5)	(3,626.3)	27.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss) attributable to Hasbro, Inc.	(171.1)			(171.1)
Net earnings attributable to noncontrolling interests	0.7						0.7
Other comprehensive earnings (loss)	5.1				5.1
Stock-based compensation transactions	(1.4)		(1.3)			(0.1)
Stock-based compensation expense	19.3		19.2			0.1
Dividends declared	(97.1)		1.6	(98.7)
Distributions paid to noncontrolling owners and other foreign exchange	(2.5)						(2.5)
Ending balance at Oct. 01, 2023	2,223.2	110.1	2,574.1	3,348.3	(208.4)	(3,626.3)	25.4
Beginning balance at Dec. 31, 2023	1,087.0	110.1	2,590.6	2,188.4	(201.5)	(3,625.7)	25.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss) attributable to Hasbro, Inc.	58.2			58.2
Net earnings attributable to noncontrolling interests	0.9						0.9
Other comprehensive earnings (loss)	(1.8)				(1.8)
Stock-based compensation transactions	(10.0)		(16.9)			6.9
Stock-based compensation expense	(5.0)		(5.0)
Dividends declared	(97.4)		1.2	(98.6)
Distributions paid to noncontrolling owners and other foreign exchange	(2.0)						(2.0)
Ending balance at Mar. 31, 2024	1,029.9	110.1	2,569.9	2,148.0	(203.3)	(3,618.8)	24.0
Beginning balance at Dec. 31, 2023	1,087.0	110.1	2,590.6	2,188.4	(201.5)	(3,625.7)	25.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss) attributable to Hasbro, Inc.	419.9
Other comprehensive earnings (loss)	(26.3)
Ending balance at Sep. 29, 2024	1,309.7	110.1	2,609.5	2,408.2	(227.8)	(3,612.8)	22.5
Beginning balance at Mar. 31, 2024	1,029.9	110.1	2,569.9	2,148.0	(203.3)	(3,618.8)	24.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss) attributable to Hasbro, Inc.	138.5			138.5
Other comprehensive earnings (loss)	(18.9)				(18.9)
Stock-based compensation transactions	5.3		2.9			2.4
Stock-based compensation expense	19.8		17.5			2.3
Dividends declared	0.0		1.8	(1.8)
Distributions paid to noncontrolling owners and other foreign exchange	(1.7)						(1.7)
Ending balance at Jun. 30, 2024	1,172.9	110.1	2,592.1	2,284.7	(222.2)	(3,614.1)	22.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss) attributable to Hasbro, Inc.	223.2			223.2
Net earnings attributable to noncontrolling interests	0.1						0.1
Other comprehensive earnings (loss)	(5.6)				(5.6)
Stock-based compensation transactions	2.6		0.6			2.0
Stock-based compensation expense	14.0		14.7			(0.7)
Dividends declared	(97.6)		2.1	(99.7)
Distributions paid to noncontrolling owners and other foreign exchange	0.1						0.1
Ending balance at Sep. 29, 2024	$ 1,309.7	$ 110.1	$ 2,609.5	$ 2,408.2	$ (227.8)	$ (3,612.8)	$ 22.5

Goodwill - Changes in the Carrying Amount of Goodwill (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 29, 2024	Dec. 31, 2023	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Goodwill [Roll Forward]
Beginning balance		$ 3,238.8		$ 2,279.2	$ 3,470.1
Foreign exchange translation				(0.3)	(0.1)
Impairment during the period	$ 0.0		$ 0.0	0.0	231.2
Ending balance	2,278.9	2,279.2	3,238.8	2,278.9	3,238.8
Goodwill impairment charge		960.0
Consumer Products
Goodwill [Roll Forward]
Beginning balance		1,584.6		1,582.3	1,584.7
Foreign exchange translation				(0.1)	(0.1)
Impairment during the period					0.0
Ending balance	1,582.2	1,582.3	1,584.6	1,582.2	1,584.6
Wizards of the Coast and Digital Gaming
Goodwill [Roll Forward]
Beginning balance		371.5		371.7	371.5
Foreign exchange translation				(0.2)	0.0
Impairment during the period					0.0
Ending balance	371.5	371.7	371.5	371.5	371.5
Entertainment
Goodwill [Roll Forward]
Beginning balance		1,282.7		325.2	1,513.9
Foreign exchange translation				0.0	0.0
Impairment during the period					231.2
Ending balance	$ 325.2	$ 325.2	$ 1,282.7	$ 325.2	$ 1,282.7

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482598/350-20-45-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

+ Details

Debt - Additional Information (Details) - USD ($) $ in Millions	Sep. 29, 2024	May 31, 2024	Dec. 31, 2023	Oct. 01, 2023
Debt Instrument [Line Items]
Debt issuance costs	$ 22.3		$ 19.1	$ 20.3
Supplier finance program, obligation	$ 118.7		$ 43.3	$ 105.7
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration]	Accounts payable		Accounts payable	Accounts payable
Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount		$ 500.0
6.05% Notes Due 2034
Debt Instrument [Line Items]
Debt stated interest rate (as a percent)	6.05%
6.05% Notes Due 2034 \| Senior Notes
Debt Instrument [Line Items]
Debt stated interest rate (as a percent)		6.05%
Issuance discount		$ 1.4
Debt issuance costs		$ 5.3
Amended Revolving Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 1,250.0
Potential additional incremental commitment	$ 500.0

Sale of Non-Core Entertainment One Film and TV Business - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023	Dec. 31, 2023	Dec. 27, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax non-cash loss on assets held for sale	$ 0.0	$ 473.0	$ 24.4	$ 473.0
eOne Film and TV \| 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						$ 375.0
Pre-tax non-cash loss on assets held for sale		$ 473.0		$ 473.0	$ 539.0
Pre-tax cash transaction expenses					$ 35.1

Restructuring Actions (Tables)

9 Months Ended

Sep. 29, 2024

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs


	Nine Months Ended
Operational Excellence	September 29, 2024		October 1, 2023
Balance at beginning of the year	$	81.2	$	84.9
Charges	7.8		—
Payments	(40.1)		(33.9)
Ending Balance	$	48.9	$	51.0


Operational Excellence	Total
Charges incurred to date	$	140.1
Estimated charges to be incurred on approved initiatives	—
Total expected charges on approved initiatives	$	140.1

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

9 Months Ended

Sep. 29, 2024

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 29, 2024, October 1, 2023, and December 31, 2023:


	September 29, 2024		October 1, 2023		December 31, 2023
Investment in Films and Television Programs: (1)
Individual Monetization
Released, net of amortization	$	73.7	$	78.3	$	74.7
Completed and not released	—		—		5.1
In production	12.3		27.2		27.1
Pre-production	4.8		18.4		10.4
	90.8		123.9		117.3
Film/TV Group Monetization
Released, net of amortization	42.5		14.6		26.0
In production	—		33.2		23.6
	42.5		47.8		49.6
Investment in Other Programming
Released, net of amortization	5.0		16.5		16.1
Completed and not released	—		—		—
In production	5.9		6.8		0.8
Pre-production	0.9		1.5		0.8
	11.8		24.8		17.7
Total Program Investments	$	145.1	$	196.5	$	184.6

Schedule of Program Cost Amortization

The Company's program cost amortization related to released programming during the three and nine months ended September 29, 2024 and October 1, 2023, consist of the following:


	Three Months Ended				Nine Months Ended
	September 29, 2024		October 1, 2023		September 29, 2024		October 1, 2023
Investment in production	$	7.9	$	60.3	$	24.5	$	294.5
Investment in content	—		8.1		—		30.8
Total program cost amortization	$	7.9	$	68.4	$	24.5	$	325.3

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 29, 2024	Dec. 31, 2023	Oct. 01, 2023
Current assets
Cash and cash equivalents, including restricted cash of $0.3 million, $1.1 million and $0.6 million	$ 696.1	$ 545.4	$ 185.5
Short-term investments	489.3	0.0	0.0
Accounts receivable, net	1,069.2	1,029.3	1,102.0
Inventories	375.4	332.0	617.7
Prepaid expenses and other current assets	391.6	416.9	286.2
Assets held for sale	0.0	0.0	1,048.7
Total current assets	3,021.6	2,323.6	3,240.1
Property, plant and equipment, less accumulated depreciation of $643.2 million, $603.3 million and $618.9 million	564.2	488.6	474.6
Other assets:
Goodwill	2,278.9	2,279.2	3,238.8
Other intangible assets, net of accumulated amortization of $1,350.5 million, $1,229.3 million and $1,296.9 million	539.5	587.5	655.1
Other	825.7	862.0	731.6
Total other assets	3,644.1	3,728.7	4,625.5
Total assets	7,229.9	6,540.9	8,340.2
Current liabilities
Current portion of long-term debt	500.0	500.0	60.0
Accounts payable	420.3	340.6	371.4
Accrued liabilities	1,132.5	1,215.8	985.4
Liabilities held for sale	0.0	0.0	607.4
Total current liabilities	2,052.8	2,056.4	2,024.2
Long-term debt	3,462.6	2,965.8	3,654.6
Other liabilities	404.8	431.7	438.2
Total liabilities	5,920.2	5,453.9	6,117.0
Commitments and contingencies (Note 14)
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 29, 2024, October 1, 2023, and December 31, 2023	110.1	110.1	110.1
Additional paid-in capital	2,609.5	2,590.6	2,574.1
Retained earnings	2,408.2	2,188.4	3,348.3
Accumulated other comprehensive loss	(227.8)	(201.5)	(208.4)
Treasury stock, at cost; 80,798,468 shares at September 29, 2024; 81,541,637 shares at October 1, 2023; and 81,498,181 shares at December 31, 2023	(3,612.8)	(3,625.7)	(3,626.3)
Noncontrolling interests	22.5	25.1	25.4
Total shareholders' equity	1,309.7	1,087.0	2,223.2
Total liabilities, noncontrolling interests and shareholders' equity	$ 7,229.9	$ 6,540.9	$ 8,340.2

Revenue Recognition - Net Revenues by Category (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Revenue from External Customer [Line Items]
Net revenues	$ 1,281.3	$ 1,503.4	$ 3,033.9	$ 3,714.4
Wizards of the Coast and Digital Gaming
Revenue from External Customer [Line Items]
Net revenues	404.0	423.6	1,172.3	1,094.4
Entertainment
Revenue from External Customer [Line Items]
Net revenues	17.2	122.9	64.0	487.5
Tabletop Gaming \| Wizards of the Coast and Digital Gaming
Revenue from External Customer [Line Items]
Net revenues	296.8	290.5	832.6	806.9
Digital and Licensed Gaming \| Wizards of the Coast and Digital Gaming
Revenue from External Customer [Line Items]
Net revenues	107.2	133.1	339.7	287.5
Film and TV \| Entertainment
Revenue from External Customer [Line Items]
Net revenues	1.6	102.1	3.4	423.8
Family Brands \| Entertainment
Revenue from External Customer [Line Items]
Net revenues	$ 15.6	$ 20.8	$ 60.6	$ 63.7

- Definition

+ References

+ Details

Basis of Presentation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Basis of Presentation (Details) - USD ($) $ in Millions	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Selling, distribution and administration	$ 299.3	$ 352.3	$ 852.6	$ 1,050.0
Cost of sales	$ 378.9	$ 494.5	820.8	$ 1,132.0
Revision of Prior Period, Error Correction, Adjustment
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Selling, distribution and administration			31.1
Cost of sales			26.7
Revision of Prior Period, Error Correction, Adjustment \| Performance Shares
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Reversal of stock compensation expense			$ 18.1

Derivative Financial Instruments - Fair Values of Undesignated Derivative Financial Instruments (Details) - Foreign Exchange Forward - Not Designated as Hedging Instrument - USD ($) $ in Millions	Sep. 29, 2024	Dec. 31, 2023	Oct. 01, 2023
Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Unrealized gains	$ 0.0	$ 0.3	$ 10.7
Unrealized losses	0.0	0.0	(7.7)
Net unrealized gains (losses)	0.0	0.3	3.0
Accrued liabilities
Derivatives, Fair Value [Line Items]
Unrealized gains	0.2	1.4	0.0
Unrealized losses	(2.2)	(2.5)	(0.1)
Net unrealized gains (losses)	$ (2.0)	$ (1.1)	$ (0.1)

Sale of Non-Core Entertainment One Film and TV Business - Assets and Liabilities Held for Sale (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Liabilities:
Pre-tax non-cash loss on assets held for sale	$ 0.0	$ 473.0	$ 24.4	$ 473.0
eOne Film and TV \| Disposal Group, Held-for-sale
Assets:
Cash and cash equivalents including restricted cash of $4.1 million		70.4		70.4
Restricted cash		4.1		4.1
Accounts receivable, less allowance for doubtful accounts of $1.4 million		85.2		85.2
Allowance for doubtful accounts		1.4		1.4
Inventories		2.7		2.7
Prepaid expenses and other current assets		402.6		402.6
Property, plant and equipment, less accumulated depreciation of $21.3 million		53.6		53.6
Accumulated depreciation		21.3		21.3
Other assets		891.5		891.5
Write-down loss allowance		(457.3)		(457.3)
Total assets held for sale		1,048.7		1,048.7
Liabilities:
Short-term borrowings		141.9		141.9
Current portion of long-term debt		8.2		8.2
Accounts payable and accrued liabilities		404.4		404.4
Long-term debt		0.8		0.8
Other liabilities		52.1		52.1
Total liabilities held for sale		$ 607.4		607.4
Write-down loss allowance				457.3
Currency translation losses on the classification of held for sale				15.7
Pre-tax non-cash loss on assets held for sale	$ (473.0)			$ 473.0

Other Comprehensive Earnings (Loss)

9 Months Ended

Sep. 29, 2024

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 three and nine months ended September 29, 2024 and October 1, 2023.


	Three Months Ended				Nine Months Ended
	September 29, 2024		October 1, 2023		September 29, 2024		October 1, 2023
Other comprehensive earnings (loss), tax effect:
Tax benefit (expense) on cash flow hedging activities	$	0.4	$	(0.7)	$	(0.8)	$	1.6
Reclassifications to earnings (loss), tax effect:
Tax (benefit) expense on cash flow hedging activities	—		(0.9)		(0.5)		(1.4)
Amortization of unrecognized pension and postretirement amounts	—		—		—		0.1
Total tax effect on other comprehensive earnings (loss)	$	0.4	$	(1.6)	$	(1.3)	$	0.3

Changes in the components of Accumulated other comprehensive earnings (loss), net of tax for the nine months ended September 29, 2024 and October 1, 2023 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
2024
Balance at December 31, 2023	$	(4.2)	$	(16.8)	$	(0.1)	$	(180.4)	$	(201.5)
Current period other comprehensive earnings (loss)	(0.1)		1.9		—		(28.1)		(26.3)
Balance at September 29, 2024	$	(4.3)	$	(14.9)	$	(0.1)	$	(208.5)	$	(227.8)

2023
Balance at December 25, 2022	$	(3.0)	$	(12.0)	$	(0.1)	$	(239.8)	$	(254.9)
Current period other comprehensive earnings (loss)	(0.2)		0.3		—		46.4		46.5
Balance at October 1, 2023	$	(3.2)	$	(11.7)	$	(0.1)	$	(193.4)	$	(208.4)

Gains (Losses) on Derivative Instruments

At September 29, 2024, the Company had remaining deferred losses on foreign currency forward contracts, net of tax, of $0.2 million in Accumulated other comprehensive earnings (loss) ("AOCE"). These instruments hedge payments related to inventory purchased in the nine months ended September 29, 2024 or forecasted to be purchased during the remainder of 2024, intercompany expenses expected to be paid or received during 2024 and cash receipts for sales made at the end of the third quarter of 2024 or forecasted to be made in the remainder of 2024. These amounts will be reclassified into the Consolidated Statements of Operations upon the sale of the related inventory or recognition of the related sales 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 in 2021, 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 29, 2024, deferred losses, net of tax of $13.5 million related to these instruments remained in AOCE. For each of the three months ended September 29, 2024 and October 1, 2023, previously deferred losses, net of tax of $0.2 million related to these instruments were reclassified from AOCE to net earnings. For the nine months ended September 29, 2024 and October 1, 2023, previously deferred losses, net of tax of $0.5 million and $0.5 million, respectively, related to these instruments were reclassified from AOCE to net earnings.

Of the net deferred losses included in AOCE at September 29, 2024, the Company expects net losses of approximately $0.4 million to be reclassified to the Consolidated Statements of Operations within the next twelve months. However, the amount ultimately realized in earnings is dependent on the fair value of the hedging instruments on the settlement dates.

See Note 12 for additional discussion on reclassifications from AOCE to earnings.

Other Comprehensive Earnings (Loss) - Accumulated Other Comprehensive Earnings (Loss), Net of Tax (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 29, 2024	Jun. 30, 2024	Mar. 31, 2024	Oct. 01, 2023	Jul. 02, 2023	Apr. 02, 2023	Sep. 29, 2024	Oct. 01, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,172.9	$ 1,029.9	$ 1,087.0	$ 2,470.2	$ 2,758.7	$ 2,861.9	$ 1,087.0	$ 2,861.9
Current period other comprehensive earnings (loss)	(5.6)	(18.9)	(1.8)	5.1	23.9	17.5	(26.3)	46.5
Ending balance	1,309.7	1,172.9	1,029.9	2,223.2	2,470.2	2,758.7	1,309.7	2,223.2
Pension and Postretirement Amounts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(4.2)			(3.0)	(4.2)	(3.0)
Current period other comprehensive earnings (loss)							(0.1)	(0.2)
Ending balance	(4.3)			(3.2)			(4.3)	(3.2)
Gains (Losses) on Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(16.8)			(12.0)	(16.8)	(12.0)
Current period other comprehensive earnings (loss)							1.9	0.3
Ending balance	(14.9)			(11.7)			(14.9)	(11.7)
Unrealized Holding Gains (Losses) on Available- for-Sale Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(0.1)			(0.1)	(0.1)	(0.1)
Current period other comprehensive earnings (loss)							0.0	0.0
Ending balance	(0.1)			(0.1)			(0.1)	(0.1)
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(180.4)			(239.8)	(180.4)	(239.8)
Current period other comprehensive earnings (loss)							(28.1)	46.4
Ending balance	(208.5)			(193.4)			(208.5)	(193.4)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(222.2)	(203.3)	(201.5)	(213.5)	(237.4)	(254.9)	(201.5)	(254.9)
Current period other comprehensive earnings (loss)	(5.6)	(18.9)	(1.8)	5.1	23.9	17.5
Ending balance	$ (227.8)	$ (222.2)	$ (203.3)	$ (208.4)	$ (213.5)	$ (237.4)	$ (227.8)	$ (208.4)

- Definition

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

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Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

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Reference 41: http://www.xbrl.org/2003/role/disclosureRef
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Reference 42: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147476166/350-60-65-1

+ Details

Investments in Productions and Investments in Acquired Content Rights - Program Production Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Sep. 29, 2024	Oct. 01, 2023
Individual Monetization
Released, net of amortization	$ 74.7	$ 73.7	$ 78.3
Completed and not released	5.1	0.0	0.0
In production	27.1	12.3	27.2
Pre-production	10.4	4.8	18.4
Individual monetization, costs	117.3	90.8	123.9
Film/TV Group Monetization
Released, net of amortization	26.0	42.5	14.6
In production	23.6	0.0	33.2
Total film costs	49.6	42.5	47.8
Investment in Other Programming
Released, net of amortization	16.1	5.0	16.5
Completed and not released	0.0	0.0	0.0
In production	0.8	5.9	6.8
Pre-production	0.8	0.9	1.5
Other programming costs	17.7	11.8	24.8
Total Program Investments	184.6	$ 145.1	$ 196.5
Productions and investments in acquired	$ 734.8

Revenue Recognition (Tables)

9 Months Ended

Sep. 29, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Contract Assets and Liabilities

The changes in carrying amounts of contract assets and liabilities for the nine months ended September 29, 2024 and October 1, 2023 are as follows:


	September 29, 2024		October 1, 2023
Assets
Balance at beginning of the year	$	213.3	$	594.4
Recognized in current year	252.9		389.4
Amounts reclassified to accounts receivable	(221.9)		(427.4)
Reclassified to assets held for sale (1)	—		(384.6)
Foreign currency impact	(1.8)		(5.3)
Ending Balance	$	242.5	$	166.5

Liabilities
Balance at beginning of the year	$	230.8	$	113.0
Recognized in current year	168.1		254.5
Amounts in beginning balance reclassified to revenue	(53.1)		(68.3)
Current year amounts reclassified to revenue	(96.0)		(156.6)
Reclassified to liabilities held for sale (1)	—		(27.5)
Foreign currency impact	7.1		(2.1)
Ending Balance	$	256.9	$	113.0

(1) See Note 3 for additional information on assets and liabilities held for sale.

Schedule of Activity in Allowance for Credit Losses

A summary of the activity in the allowance for credit losses for the nine months ended September 29, 2024 and October 1, 2023 are as follows:


	September 29, 2024		October 1, 2023

Balance at beginning of the year	$	12.7	$	20.0
Charged to costs and expenses, net	4.6		2.8
Customer accounts written off—net of recoveries	(0.5)		(0.8)
Reclassified to assets held for sale (1)	—		(1.4)
Foreign currency impact	(0.6)		0.2
Ending balance	$	16.2	$	20.8

(1) See Note 3 for additional information on assets held for sale.

Schedule of Net Revenues by Geographic Regions

The following table represents consolidated Consumer Products segment net revenues by major geographic region for the three and nine months ended September 29, 2024 and October 1, 2023:


	Three Months Ended				Nine Months Ended
	September 29, 2024		October 1, 2023		September 29, 2024		October 1, 2023
North America	$	526.8	$	573.6	$	1,072.0	$	1,234.7
Europe	162.3		208.7		341.8		472.2
Asia Pacific	81.9		61.8		193.3		191.5
Latin America	89.1		112.8		190.5		234.1
Net revenues	$	860.1	$	956.9	$	1,797.6	$	2,132.5

Schedule of Net Revenues by Category

The following table represents consolidated Wizards of the Coast and Digital Gaming segment net revenues by category for the three and nine months ended September 29, 2024 and October 1, 2023:


	Three Months Ended				Nine Months Ended
	September 29, 2024		October 1, 2023		September 29, 2024		October 1, 2023
Tabletop Gaming	$	296.8	$	290.5	$	832.6	$	806.9
Digital and Licensed Gaming	107.2		133.1		339.7		287.5
Net revenues	$	404.0	$	423.6	$	1,172.3	$	1,094.4

The following table represents consolidated Entertainment segment net revenues by category for the three and nine months ended September 29, 2024 and October 1, 2023:


	Three Months Ended				Nine Months Ended
	September 29, 2024		October 1, 2023		September 29, 2024		October 1, 2023
Film and TV (1)	$	1.6	$	102.1	$	3.4	$	423.8
Family Brands	15.6		20.8		60.6		63.7
Net revenues	$	17.2	$	122.9	$	64.0	$	487.5

(1) Net revenues from the Company's Film and TV portfolio were primarily associated with the Company's non-core eOne Film and TV business sold to Lionsgate during the fourth quarter of 2023.

The following table presents consolidated net revenues by brand portfolio for the three and nine months ended September 29, 2024 and October 1, 2023:


	Three Months Ended				Nine Months Ended
	September 29, 2024		October 1, 2023		September 29, 2024		October 1, 2023
Franchise Brands	$	941.6	$	1,011.0	$	2,334.7	$	2,412.8
Partner Brands	190.1		228.2		402.4		533.8
Portfolio Brands	149.6		170.6		296.8		370.6
Non-Hasbro Branded Film & TV (1)	—		93.6		—		397.2
Net revenues	$	1,281.3	$	1,503.4	$	3,033.9	$	3,714.4

(1) Net revenues from the Company's Non-Hasbro-branded Film and TV portfolio were associated with the Company's non-core eOne Film and TV business sold to Lionsgate during the fourth quarter of 2023.

Revenue Recognition - Contract Assets and Liabilities (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023
Assets
Balance at beginning of the year	$ 213.3	$ 594.4
Recognized in current year	252.9	389.4
Amounts reclassified to accounts receivable	(221.9)	(427.4)
Reclassified to assets held for sale	0.0	(384.6)
Foreign currency impact	(1.8)	(5.3)
Ending Balance	242.5	166.5
Liabilities
Balance at beginning of the year	230.8	113.0
Recognized in current year	168.1	254.5
Amounts in beginning balance reclassified to revenue	(53.1)	(68.3)
Current year amounts reclassified to revenue	(96.0)	(156.6)
Reclassified to liabilities held for sale	0.0	(27.5)
Foreign currency impact	7.1	(2.1)
Ending Balance	$ 256.9	$ 113.0

Revenue Recognition - Additional Information (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024 USD ($)	Oct. 01, 2023 USD ($)	Sep. 29, 2024 USD ($) brand_category	Oct. 01, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 2.7		$ 2.7
Number of brand categories \| brand_category			3
Net revenues	1,281.3	$ 1,503.4	$ 3,033.9	$ 3,714.4
Non-Hasbro Branded Film & TV brands
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Net revenues		$ 0.3		$ 1.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 0.6		$ 0.6
Revenue, remaining performance obligation, period	9 months		9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-12-30
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 2.1		$ 2.1
Revenue, remaining performance obligation, period	1 year		1 year

- Definition

+ References

+ Details

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 29, 2024
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 consolidated subsidiaries ("Hasbro" or the "Company") as of September 29, 2024, October 1, 2023, and December 31, 2023, and the results of its operations and cash flows and shareholders' equity for the periods ended September 29, 2024 and October 1, 2023 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 condensed notes thereto. Actual results could differ from those estimates. The three months ended September 29, 2024 and October 1, 2023 were 13-week periods. The nine months ended September 29, 2024 and October 1, 2023 were 39-week and 40-week periods, respectively. The results of operations for the three and nine months ended September 29, 2024 are not necessarily indicative of results to be expected for the full year 2024, nor were those of the comparable 2023 periods representative of those actually experienced for the full year 2023. 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 31, 2023 in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 ("2023 Form 10-K"), which includes all such information and disclosures and, accordingly, should be read in conjunction with the financial information included herein. Other Adjustments During the nine months ended September 29, 2024, the Company corrected prior period errors associated with an $18.1 million benefit related to the reversal of stock compensation expense for the Company's performance stock awards that should have been recorded during fiscal year 2023 (recorded in Selling, distribution and administration on the Consolidated Statements of Operations), a $31.1 million expense and associated liability related to historical environmental exposures in accordance with Accounting Standard Codification 410, Asset Retirement and Environmental Obligations (recorded in Selling, distribution and administration on the Consolidated Statements of Operations), and a $26.7 million benefit related to an over-accrual of vendor commitment liabilities (recorded in Cost of sales on the Consolidated Statements of Operations). The recording of these items was not considered to be material, individually or in the aggregate, to the Company's prior year financial statements or the 2024 consolidated financial statements. Significant Accounting Policies The Company's significant accounting policies are summarized in Note 1 to the consolidated financial statements included in the Company's 2023 Form 10-K. Recently Adopted Accounting Standards During the three and nine months ended September 29, 2024, there were no recently adopted accounting standards that had a material effect on the Company’s financial statements. Issued Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in this update enhance disclosures for significant segment expenses for all public entities required to report segment information in accordance with ASC 280. The standard did not change the definition of a segment, the method for determining segments or the criteria for aggregating operating segments into reportable segments. The amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Retrospective adoption is required for all prior periods presented in the financial statements. We are assessing the impact of this ASU and upon adoption expect that any impact would be limited to additional segment expense disclosures in the footnotes to our consolidated financial statements. We expect to adopt the standard beginning with our 2024 Form 10-K. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements in Income Tax Disclosures. The amendments in this update enhance the transparency and decision usefulness of income tax disclosures. This amendment requires public companies to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. Additionally, under the amendment, entities are required to disclose the amount of income taxes paid disaggregated by federal, state and foreign taxes, as well as disaggregated by material individual jurisdictions. Finally, the amendment requires entities to disclose income from continuing operations before income tax expense disaggregated between domestic and foreign and income tax expense from continuing operations disaggregated by federal, state and foreign. The new rules are effective for annual periods beginning after December 15, 2024. We are currently assessing the impact of this ASU on our consolidated financial statements. There were no other recently issued accounting pronouncements which would have a material effect on the Company’s condensed consolidated financial statements.

Segment Reporting - Net Revenues by Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	$ 1,281.3	$ 1,503.4	$ 3,033.9	$ 3,714.4
Affiliate
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	0.0	0.0	0.0	0.0
Corporate and Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	0.0	0.0	0.0	0.0
Corporate and Other \| Affiliate
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	(138.8)	(131.0)	(337.2)	(402.8)
Consumer Products \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	860.1	956.9	1,797.6	2,132.5
Consumer Products \| Operating Segments \| Affiliate
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	75.6	72.7	179.6	226.8
Wizards of the Coast and Digital Gaming
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	404.0	423.6	1,172.3	1,094.4
Wizards of the Coast and Digital Gaming \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	404.0	423.6	1,172.3	1,094.4
Wizards of the Coast and Digital Gaming \| Operating Segments \| Affiliate
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	46.0	43.5	119.9	136.6
Entertainment
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	17.2	122.9	64.0	487.5
Entertainment \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	17.2	122.9	64.0	487.5
Entertainment \| Operating Segments \| Affiliate
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	$ 17.2	$ 14.8	$ 37.7	$ 39.4

- Definition

+ References

+ Details

Fair Value of Financial Instruments - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended
	May 31, 2024	Sep. 29, 2024	Dec. 31, 2023	Oct. 01, 2023
Fair Value Disclosures [Abstract]
Short-term investments		$ 489.3	$ 0.0	$ 0.0
Proceeds from debt offering	$ 500.0

Restructuring Actions - Program Related Restructuring Action (Details) - Operational Excellence Program - USD ($) $ in Millions	9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023
Restructuring Reserve [Roll Forward]
Balance at beginning of the year	$ 81.2	$ 84.9
Charges	7.8	0.0
Payments	(40.1)	(33.9)
Ending Balance	$ 48.9	$ 51.0

Basis of Presentation (Policies)	9 Months Ended
Basis of Presentation (Policies)	Sep. 29, 2024
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 consolidated subsidiaries ("Hasbro" or the "Company") as of September 29, 2024, October 1, 2023, and December 31, 2023, and the results of its operations and cash flows and shareholders' equity for the periods ended September 29, 2024 and October 1, 2023 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 condensed notes thereto. Actual results could differ from those estimates.
Recently Adopted Accounting Standards and Issued Accounting Pronouncements	Recently Adopted Accounting Standards During the three and nine months ended September 29, 2024, there were no recently adopted accounting standards that had a material effect on the Company’s financial statements. Issued Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in this update enhance disclosures for significant segment expenses for all public entities required to report segment information in accordance with ASC 280. The standard did not change the definition of a segment, the method for determining segments or the criteria for aggregating operating segments into reportable segments. The amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Retrospective adoption is required for all prior periods presented in the financial statements. We are assessing the impact of this ASU and upon adoption expect that any impact would be limited to additional segment expense disclosures in the footnotes to our consolidated financial statements. We expect to adopt the standard beginning with our 2024 Form 10-K. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements in Income Tax Disclosures. The amendments in this update enhance the transparency and decision usefulness of income tax disclosures. This amendment requires public companies to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. Additionally, under the amendment, entities are required to disclose the amount of income taxes paid disaggregated by federal, state and foreign taxes, as well as disaggregated by material individual jurisdictions. Finally, the amendment requires entities to disclose income from continuing operations before income tax expense disaggregated between domestic and foreign and income tax expense from continuing operations disaggregated by federal, state and foreign. The new rules are effective for annual periods beginning after December 15, 2024. We are currently assessing the impact of this ASU on our consolidated financial statements. There were no other recently issued accounting pronouncements which would have a material effect on the Company’s condensed consolidated financial statements.
Revenue Recognition	Revenue is recognized when control of the promised goods, functional intellectual property or production is transferred to the customers or licensees, in an amount that reflects the consideration the Company expects to be entitled to in exchange for transferring those goods. 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. The majority of the Company’s revenues are derived from sales of finished products to customers. See Note 1 of the Company's 2023 Annual Report for the Company's revenue recognition accounting policy. Contract Assets and Liabilities In the ordinary course of business, the Company’s Consumer Products, Wizards of the Coast and Digital Gaming and Entertainment segments enter into contracts to license certain of the Company’s intellectual property, providing licensees right-to-use or access such intellectual property for use in the production and sale of consumer products and digital game development, and for use within content for distribution over streaming platforms and for television and film. The Company also licenses owned television and film content for distribution to third parties in formats that include broadcast, digital streaming and theatrical. Through these arrangements, the Company may receive advanced royalty payments from licensees, either in advance of a licensees’ subsequent sales to customers or, prior to the completion of the Company’s performance obligation. In addition, the Company’s Wizards of the Coast and Digital Gaming segment may receive advanced payments from end users of its digital games at the time of the initial purchase, through in-application purchases or through subscription services. These digital gaming revenues are recognized over a period of time, determined based on player usage patterns or the estimated playing life of the user, or when additional downloadable content is made available, or as with subscription services, ratably over the subscription term. The Company defers revenues on all licensee and digital gaming advanced payments until the respective performance obligations are satisfied. The Company records the aggregate deferred revenues as contract liabilities, with the current portion recorded within Accrued liabilities and the long-term portion recorded as Other non-current liabilities in the Company’s Consolidated Balance Sheets. The Company records contract assets, primarily related to (1) minimum guarantees being recognized in advance of contractual invoicing, which are recognized ratably over the terms of the respective license periods, and (2) film and television distribution revenues recorded for content delivered, where payment will occur over the license term. The current portion of contract assets is recorded in Prepaid expenses and Other current assets and the long-term portion is recorded within Other long-term assets. Disaggregation of revenues The Company disaggregates its revenues from contracts with customers by reportable segment: Consumer Products, Wizards of the Coast and Digital Gaming, and Entertainment. The Company further disaggregates revenues within its Consumer Products segment by major geographic region: North America, Europe, Latin America, and Asia Pacific; within its Wizards of the Coast and Digital Gaming segment by category: Tabletop Gaming and Digital and Licensed Gaming; and within its Entertainment segment by category: Film & TV, Family Brands, and Other. Finally, the Company disaggregates its revenues by brand portfolio into three brand categories: Franchise Brands, Partner Brands and Portfolio Brands. We believe these collectively depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. Effective in the first quarter of 2024, subsequent to the sale of the eOne Film and TV business (as defined in Note 3), the Company moved the remaining Non-Hasbro Branded Film & TV brands into Portfolio Brands to align with the Company's Brand Strategy. For comparability, net revenues for the three and nine months ended October 1, 2023, have been reclassified to reflect the movement, resulting in a change of $0.3 million and $1.2 million, respectively.

- 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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-Topic 606
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-URI https://asc.fasb.org/606/tableOfContent

+ Details

Segment Reporting - Operating Profit (Loss) by Segments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss):	$ 301.9	$ (169.5)	$ 630.2	$ (340.2)
Interest expense	46.2	47.1	127.7	140.0
Interest income	(14.7)	(3.8)	(36.0)	(15.6)
Other non-operating expense (income)	(19.9)	2.2	(15.7)	(0.7)
Earnings (loss) before income taxes	290.3	(215.0)	554.2	(463.9)
Selling, distribution and administration	299.3	352.3	852.6	1,050.0
Cost of sales	378.9	494.5	820.8	1,132.0
Revision of Prior Period, Error Correction, Adjustment
Segment Reporting, Revenue Reconciling Item [Line Items]
Selling, distribution and administration			31.1
Cost of sales			26.7
Corporate and Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss):	(10.1)	(0.5)	(0.3)	(22.8)
Corporate and Other \| Operational Excellence Program
Segment Reporting, Revenue Reconciling Item [Line Items]
Transformation office and consulting fees	6.0	8.4	18.5	29.4
Consumer Products \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss):	121.0	96.1	64.8	61.5
Wizards of the Coast and Digital Gaming \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss):	181.2	203.4	551.1	422.5
Entertainment \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss):	$ 9.8	$ (468.5)	$ 14.6	$ (801.4)

Derivative Financial Instruments

9 Months Ended

Sep. 29, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

Hasbro uses foreign currency forward and option 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 and 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 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 and other cross-border transactions, primarily for the remainder of 2024, and into 2025.


	September 29, 2024				October 1, 2023				December 31, 2023
Hedged transaction	Notional Amount		Fair Value		Notional Amount		Fair Value		Notional Amount		Fair Value
Inventory purchases	$	164.7	$	1.3	$	194.4	$	3.4	$	129.9	$	(1.7)
Sales	104.6		(3.2)		113.4		0.8		89.7		(0.2)
Royalties and Other	26.4		1.5		70.5		(0.9)		31.7		(0.5)
Total	$	295.7	$	(0.4)	$	378.3	$	3.3	$	251.3	$	(2.4)

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 29, 2024, October 1, 2023 and December 31, 2023 as follows:


	September 29, 2024		October 1, 2023		December 31, 2023
Prepaid expenses and other current assets
Unrealized gains	$	3.1	$	5.9	$	0.5
Unrealized losses	(0.2)		(2.0)		(0.1)
Net unrealized gains	$	2.9	$	3.9	$	0.4

Other assets
Unrealized gains	$	0.5	$	1.5	$	—
Unrealized losses	—		(0.1)		—
Net unrealized gains	$	0.5	$	1.4	$	—

Accrued liabilities
Unrealized gains	$	1.0	$	0.4	$	0.7
Unrealized losses	(4.0)		(2.4)		(3.5)
Net unrealized losses	$	(3.0)	$	(2.0)	$	(2.8)

Other liabilities
Unrealized gains	$	0.1	$	—	$	—
Unrealized losses	(1.0)		—		—
Net unrealized losses	$	(0.9)	$	—	$	—


	Three Months Ended				Nine Months Ended
	September 29, 2024		October 1, 2023		September 29, 2024		October 1, 2023
Statements of Operations Classification
Cost of sales	$	(0.6)	$	1.8	$	(0.7)	$	0.5
Net revenues	0.8		(0.1)		1.4		(0.2)
Other	(0.3)		1.2		—		1.7
Net realized (losses) gains	$	(0.1)	$	2.9	$	0.7	$	2.0

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. As of September 29, 2024, October 1, 2023 and December 31, 2023, the total notional amounts of the Company's undesignated derivative instruments were $267.4 million, $807.5 million, and $340.5 million, respectively.


	September 29, 2024		October 1, 2023		December 31, 2023
Prepaid expenses and other current assets
Unrealized gains	$	—	$	10.7	$	0.3
Unrealized losses	—		(7.7)		—
Net unrealized gains	$	—	$	3.0	$	0.3

Accrued liabilities
Unrealized gains	$	0.2	$	—	$	1.4
Unrealized losses	(2.2)		(0.1)		(2.5)
Net unrealized losses	$	(2.0)	$	(0.1)	$	(1.1)

The Company recorded a net gain of $4.5 million and a net gain of $8.7 million for three and nine months ended September 29, 2024, respectively, and net gains of $15.1 million and $26.4 million, three and nine months ended October 1, 2023, respectively, on these instruments to Other (income) expense, net 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).

Goodwill (Tables)

9 Months Ended

Sep. 29, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Changes in the carrying amount of goodwill, by operating segment, for the nine months ended September 29, 2024 and October 1, 2023 are as follows:


	Consumer Products		Wizards of the Coast and Digital Gaming		Entertainment (1)		Total
2024
Balance as of December 31, 2023	$	1,582.3	$	371.7	$	325.2	$	2,279.2
Foreign exchange translation	(0.1)		(0.2)		—		(0.3)
Balance as of September 29, 2024	$	1,582.2	$	371.5	$	325.2	$	2,278.9


	Consumer Products		Wizards of the Coast and Digital Gaming		Entertainment (1)		Total
2023
Balance as of December 25, 2022	$	1,584.7	$	371.5	$	1,513.9	$	3,470.1
Foreign exchange translation	(0.1)		—		—		(0.1)
Impairment during the period	—		—		(231.2)		(231.2)
Balance as of October 1, 2023	$	1,584.6	$	371.5	$	1,282.7	$	3,238.8

(1) During the fourth quarter of 2023, the Company recorded $960.0 million of non-cash goodwill impairment charges within the Entertainment segment. See further detail in the 2023 Annual Report.

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Consolidated Statements of Comprehensive Earnings (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ 223.3	$ (170.4)	$ 420.9	$ (427.0)
Other comprehensive earnings (loss):
Foreign currency translation adjustments, net of tax	(1.4)	(2.7)	(28.1)	46.4
Net gains (losses) on cash flow hedging activities, net of tax	(4.2)	5.0	0.7	(2.2)
Reclassifications to earnings, net of tax:
Net gains on cash flow hedging activities	0.1	2.9	1.2	2.5
Amortization of unrecognized pension and postretirement amounts	(0.1)	(0.1)	(0.1)	(0.2)
Total other comprehensive (loss) earnings, net of tax	(5.6)	5.1	(26.3)	46.5
Total comprehensive earnings attributable to noncontrolling interests	0.1	0.7	1.0	1.2
Total comprehensive earnings (loss) attributable to Hasbro, Inc.	$ 217.6	$ (166.0)	$ 393.6	$ (381.7)

Sale of Non-Core Entertainment One Film and TV Business

9 Months Ended

Sep. 29, 2024

Discontinued Operations and Disposal Groups [Abstract]

Sale of Non-Core Entertainment One Film and TV Business

On December 27, 2023, the Company completed the sale of its Entertainment One film and television business ("eOne Film and TV") to Lions Gate Entertainment Corp., Lions Gate Entertainment Inc. and Lions Gate International Motion Pictures S.à.r.l (collectively "Lionsgate"), pursuant to the terms of an Equity Purchase Agreement dated August 3, 2023, among Hasbro and Lionsgate. The Company sold eOne Film and TV for a sales price of $375.0 million in cash, subject to the satisfaction of customary net working capital closing conditions and holdbacks for certain retained liabilities, plus the assumption by Lionsgate of production financing loans. During the nine months ended September 29, 2024, the Company recorded a $24.4 million expense in Loss on disposal of business on the Consolidated Statements of Operations associated with certain purchase price and related adjustments.

The Company recorded a pre-tax non-cash charge of $539.0 million within Loss on disposal of business on the Consolidated Statements of Operations for the year ended December 31, 2023, of which $473.0 million was recorded during the three and nine months ended October 1, 2023. The Company also recorded pre-tax cash transaction expenses of $35.1 million within Selling, distribution and administration expense on the Consolidated Statements of Operations for the year ended December 31, 2023. See Note 3 of the Company's 2023 Annual Report for further detail of the Company's sale of the eOne Film and TV business.

The Company determined that the non-core eOne Film and TV business met the criteria to be classified as held for sale at October 1, 2023, but did not meet the criteria to be classified as discontinued operations. As a result, the related assets and liabilities were included in the separate assets and liabilities held-for-sale line items of the asset and liability sections of the consolidated balance sheets. The following table summarizes the assets and liabilities held for sale at October 1, 2023:


	October 1, 2023
Assets:
Cash and cash equivalents including restricted cash of $4.1 million	$	70.4
Accounts receivable, less allowance for doubtful accounts of $1.4 million	85.2
Inventories	2.7
Prepaid expenses and other current assets	402.6
Property, plant and equipment, less accumulated depreciation of $21.3 million	53.6
Other assets	891.5
Write-down loss allowance (1)	(457.3)
Total assets held for sale	$	1,048.7

Liabilities:
Short-term borrowings	$	141.9
Current portion of long-term debt	8.2
Accounts payable and accrued liabilities	404.4
Long-term debt	0.8
Other liabilities	52.1
Total liabilities held for sale	$	607.4

Income Taxes	9 Months Ended
Income Taxes	Sep. 29, 2024
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. The effective tax rate ("ETR") was 23.1% for the three months ended September 29, 2024, and 20.8% for the three months ended October 1, 2023. The following items caused the third quarter ETR in 2024 to be different from the third quarter 2023 ETR: •During the three months ended September 29, 2024 the Company recorded a discrete tax expense of $1.1 million, primarily associated with the interest accruals on uncertain tax positions. •During the three months ended October 1, 2023 the Company recorded a discrete tax benefit of $104.4 million, primarily associated with the loss on assets held for sale. The ETR was 24.1% for the nine months ended September 29, 2024, and 8.0% for the nine months ended October 1, 2023. The following items caused the year-to-date ETR in 2024 to be significantly different from the 2023 year-to-date ETR: •During the nine months ended September 29, 2024, the Company recorded unfavorable adjustments to the 2023 Loss on Sale of the Film & TV reporting unit of $24.4 million with no tax benefit. The Company also recorded a net discrete tax expense of $1.8 million, primarily associated with stock-based compensation. •During the nine months ended October 1, 2023, the Company recorded an impairment of goodwill related to the Film and TV reporting unit of $231.2 million with no tax benefit. The Company also recorded a net discrete tax benefit of $113.3 million, exclusive of the goodwill impairment, primarily associated with tax benefits on the impairment of trade names in the Film & TV reporting unit in the second quarter and loss on assets held for sale of $473.0 million in the third quarter.

- Definition

The entire disclosure for income tax.

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+ Details

Earnings (Loss) Per Share

9 Months Ended

Sep. 29, 2024

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

Net earnings (loss) per share data for the three and nine months ended September 29, 2024 and October 1, 2023 were computed as follows:


	Three Months Ended				Nine Months Ended
	September 29, 2024		October 1, 2023		September 29, 2024		October 1, 2023
Net earnings (loss) attributable to Hasbro, Inc.	$	223.2	$	(171.1)	$	419.9	$	(428.2)

Average shares outstanding	139.5		138.8		139.3		138.7
Effect of dilutive securities:
Options and other share-based awards	1.0		—		0.7		—
Equivalent Shares	140.5		138.8		140.0		138.7

Net earnings (loss) attributable to Hasbro, Inc. per common share
Basic	$	1.60	$	(1.23)	$	3.01	$	(3.09)
Diluted	$	1.59	$	(1.23)	$	3.00	$	(3.09)

For the three and nine months ended September 29, 2024, options and restricted stock units totaling 1.1 million and 1.9 million, respectively, were excluded from the calculation of diluted earnings per share because to include them would have been anti-dilutive. For the three and nine months ended October 1, 2023, options and restricted stock units totaling 2.1 million and 2.5 million, respectively, were excluded from the calculation of diluted earnings per share because to include them would have been anti-dilutive. Of the fiscal 2023 amount, 1.9 million and 1.7 million shares, respectively, would have been included in the calculation of diluted shares had the Company not had a net loss for the three and nine months ended October 1, 2023. Assuming the Company was in a net earnings position, the awards and options that would have been included, under the treasury stock method, would have resulted in an additional 0.4 million and 0.2 million shares, respectively, being included in the diluted earnings per share calculation for the three and nine months ended October 1, 2023.