0000046080-24-000034 | 10-K | XBRL Viewer

Print Document View Excel Document

Accrued Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 25, 2022
Accrued Liabilities, Current [Abstract]
Royalties	$ 286.8	$ 195.4
Cancellation charges	118.9	89.2
Deferred revenue	101.6	111.3
Dividends	97.2	96.7
Payroll and management incentives	85.6	66.7
Severance	83.7	100.3
Other taxes	68.7	82.1
Accrued income taxes	61.6	44.8
General vendor accruals	51.9	44.3
Advertising	45.0	53.2
Participations and residuals	34.0	300.2
Current lease liability	$ 30.5	$ 39.6
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Total accrued liabilities	Total accrued liabilities
Interest	$ 29.9	$ 31.0
Defined contribution plans	29.7	30.0
Freight	22.9	28.5
Insurance	13.3	11.0
Professional fees	12.4	13.6
Accrued expenses IIC & IIP	0.7	80.8
Other	41.4	88.1
Total accrued liabilities	$ 1,215.8	$ 1,506.8

Pension, Postretirement and Postemployment Benefits - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Pension
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 0.0	$ 0.0	$ 0.0
Interest cost	1.6	1.1	1.1
Expected return on assets	0.0	0.0	0.0
Amortization of actuarial loss	0.0	0.8	1.0
Curtailment/Settlement losses	0.0	0.0	0.5
Net periodic benefit cost (income)	1.6	1.9	2.6
Postretirement
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Interest cost	1.1	0.8	0.8
Amortization of prior service cost	(0.3)	(0.3)	0.0
Amortization of actuarial loss	(0.2)	0.1	0.0
Net periodic benefit cost (income)	$ 0.6	$ 0.6	$ 0.8

Summary of Significant Accounting Policies - Breakout of Noncontrolling Interests (Details)	Dec. 31, 2023
Astley Baker Davies Limited
Noncontrolling Interest [Line Items]
Proportion Held	70.00%

Sale of Non-core Entertainment One Film and TV Business

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Sale of Non-core Entertainment One Film and TV Business

In connection with Blueprint 2.0, and after evaluating its portfolio of businesses, the Company determined that the eOne Film and TV business, which was included within the Entertainment segment, was no longer aligned with its current long-term strategy and during the third quarter of 2023, the Company entered into a definitive agreement to sell the business to Lionsgate, subject to the satisfaction of customary net working capital closing conditions and holdbacks for certain retained liabilities.

On December 27, 2023, the Company completed the sale of eOne Film and TV to Lionsgate, pursuant to the terms of an Equity Purchase Agreement dated August 3, 2023, among Hasbro and Lionsgate. Lionsgate acquired eOne Film and TV for a purchase price of $375.0 million in cash, subject to certain purchase price adjustments plus the assumption by Lionsgate of production financing loans. See note 11 for additional information.

The Company acquired eOne Film and TV through its acquisition of eOne in December 2019. Based on the value of the net assets held by the film and television business, which included goodwill and intangible assets allocated as part of the eOne acquisition, 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. 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. The impairment charge was recorded within the Entertainment segment and the transaction costs were recorded within the Corporate and Other segment.

The operations of eOne Film and TV did not meet the criteria to be presented as discontinued operations in accordance with Accounting Standards Update No. 2014-08 (ASU 2014-08) Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360) - Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity and eOne Film and TV did not represent an individually significant component of the Company’s business. As a result, income from operations before income taxes, attributable to eOne Film and TV, was recorded to the Company's Consolidated Statements of Operations, within the Entertainment segment, through the sale transaction closing date. Assets of $1.5 billion and liabilities of $542.0 million, attributable to eOne Film and TV, were de-consolidated as of the closing date and, as of December 31, 2023, there are no remaining carrying amounts within the Company's Consolidated Balance Sheets.

The following table presents the carrying amounts of the major classes of eOne Film and TV assets and liabilities sold on December 27, 2023:


(In millions)	December 27, 2023
Assets sold:
Cash and cash equivalents	$	54.1
Accounts receivable	87.9
Inventories	2.4
Other current assets	402.6
Property, plant and equipment	54.0
Other assets	885.0
Total assets sold	$	1,486.0

Liabilities sold:
Short-term borrowings	$	100.0
Current portion of long-term debt	5.8
Accounts payable and accrued liabilities	375.9
Long-term debt	0.8
Other liabilities	59.5
Total liabilities sold	$	542.0

The following table summarizes loss before income taxes attributable to eOne Film and TV through the date of the transaction:


(In millions)	2023 (1)		2022		2021
eOne Film and TV loss before income taxes	$	(371.6)	$	(7.3)	$	(10.3)

(1) Income before taxes includes operating results prior to the close of the sale of the Film and TV Business on December 27, 2023.

Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Cash Flow Hedging Instruments

As of December 31, 2023 and December 25, 2022, the notional amounts and fair values of the Company’s foreign currency forward and option contracts designated as cash flow hedging instruments were as follows:


	2023			2022
(In millions)	Notional Amount		Fair Value	Notional Amount	Fair Value
Hedged transaction
Inventory purchases	$	129.9	(1.7)	166.3	(2.7)
Sales	89.7		(0.2)	99.2	1.2
Production financing and other	31.7		(0.5)	116.8	1.5
Total	$	251.3	(2.4)	382.3	—

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 December 31, 2023 and December 25, 2022 as follows:


(In millions)	2023		2022
Prepaid expenses and other current assets
Unrealized gains	$	0.5	4.3
Unrealized losses	(0.1)		(1.8)
Net unrealized gains	$	0.4	2.5
Other assets
Unrealized gains	$	—	0.3
Unrealized losses	—		—
Net unrealized gains	$	—	0.3
Accrued liabilities
Unrealized gains	$	0.7	1.6
Unrealized losses	(3.5)		(4.4)
Net unrealized losses	$	(2.8)	(2.8)

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 years ended December 31, 2023, December 25, 2022 and December 26, 2021 as follows:


(In millions)	2023		2022	2021
Consolidated Statements of Operations Classification
Cost of sales	$	(1.1)	17.3	(4.7)
Net revenues	0.2		2.3	1.0
Other	(2.2)		(0.9)	2.0
Net realized (losses) gains	$	(3.1)	18.7	(1.7)

Summary of Fair Values of Undesignated Derivative Financial Instruments

As of December 31, 2023 and December 25, 2022, the fair value of the Company’s undesignated derivative financial instruments are recorded in the Consolidated Balance Sheets as follows:


(In millions)	2023		2022
Prepaid expenses and other current assets
Unrealized gains	$	0.3	10.9
Unrealized losses	—		(5.9)
Net unrealized gains	$	0.3	5.0

Accrued liabilities
Unrealized gains	$	1.4	—
Unrealized losses	(2.5)		—
Net unrealized losses	$	(1.1)	—
Total unrealized (losses) gains, net	$	(0.8)	5.0

- 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

Pension, Postretirement and Postemployment Benefits - Expected Benefit Payments (Details) $ in Millions	Dec. 31, 2023 USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2029-2033	$ 23.7
Pension
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2024	3.1
2025	3.0
2026	2.9
2027	2.8
2028	2.7
2029-2033	12.0
Postretirement
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2024	1.6
2025	1.6
2026	1.5
2027	1.5
2028	1.5
2029-2033	$ 6.8

Stock Options, Other Stock Awards and Warrants - Total Compensation Expense Related to Stock Options, Restricted Stock Units and Stock Performance Awards (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated share-based compensation (income) expense	$ 71.9	$ 81.3	$ 97.8
Income tax benefit	9.2	9.0	10.2
Allocated share-based compensation expense, net of tax	62.7	72.3	87.6
Stock performance awards
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated share-based compensation (income) expense	15.8	9.6	26.9
Restricted stock units (RSUs)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated share-based compensation (income) expense	47.8	60.7	50.9
Stock options
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated share-based compensation (income) expense	7.0	8.9	18.4
Stock Options Non Employee
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated share-based compensation (income) expense	1.3	2.1	1.6
Former CEO \| Stock performance awards
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated share-based compensation (income) expense		7.6
Product development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated share-based compensation (income) expense	7.0	4.8	3.7
Selling, Distribution and Administration
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated share-based compensation (income) expense	$ 64.9	$ 76.5	$ 94.1

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Information and Reconciliation by Segment

Information by segment and a reconciliation to reported amounts are as follows:


(In millions)	Revenues from External Customers		Affiliate Revenue	Depreciation and Amortization	Capital Additions	Total Assets
2023
Consumer Products (a)	$	2,886.4	279.9	130.0	60.0	6,456.2
Wizards of the Coast and Digital Gaming	1,457.6		183.6	27.8	122.5	4,340.5
Entertainment (a)(b)	659.3		51.8	28.5	0.4	3,507.7
Corporate and Other (b)	—		(515.3)	24.4	26.4	(7,763.5)
Consolidated Total	$	5,003.3	—	210.7	209.3	6,540.9
2022
Consumer Products (a)	$	3,572.5	396.7	152.5	87.0	5,757.7
Wizards of the Coast and Digital Gaming	1,325.1		172.5	14.6	52.5	2,968.7
Entertainment (a)(b)	959.1		57.5	43.8	6.9	6,273.3
Corporate and Other (b)	—		(626.7)	21.6	27.8	(5,703.8)
Consolidated Total	$	5,856.7	—	232.5	174.2	9,295.9
2021
Consumer Products	$	3,981.6	465.4	112.4	73.1	4,925.5
Wizards of the Coast and Digital Gaming	1,286.6		121.6	48.5	35.1	1,585.1
Entertainment (b)	1,152.2		61.5	96.6	6.2	6,052.8
Corporate and Other (b)	—		(648.5)	22.6	18.3	(2,525.6)
Consolidated Total	$	6,420.4	—	280.1	132.7	10,037.8

Schedule of Operating Profit (Loss) by Segment


(In millions)	2023		2022	2021
Operating profit (loss)
Consumer Products	$	(64.7)	217.3	401.4
Wizards of the Coast and Digital Gaming	525.7		538.3	547.0
Entertainment (b)	(1,911.5)		22.7	(91.8)
Corporate and Other (b)(c)	(88.3)		(370.6)	(93.3)
Operating profit (loss)	(1,538.8)		407.7	763.3
Interest expense	186.3		171.0	179.7
Interest income	(23.0)		(11.8)	(5.4)
Other non-operating expense (income)	7.0		(13.0)	7.1
Earnings (loss) before income taxes	$	(1,709.1)	261.5	581.9

(a)Beginning in 2022, the Company has allocated certain of the intangible amortization costs related to the assets acquired in the eOne Acquisition, between the Consumer Products and Entertainment segments.

(b)Certain long-term assets, including property, plant and equipment, goodwill and other intangibles, which benefit multiple operating segments, are included in both Entertainment and Corporate and Other. Allocations of certain Corporate and Other expenses, related to these assets are made to the individual operating segments at the beginning of the year based on budgeted amounts. Any differences between actual and budgeted amounts are reflected in Corporate and Other because allocations are translated from the U.S. Dollar to local currency at budgeted rates when recorded. Corporate and Other also includes the elimination of inter-company balance sheet amounts.

(c)Corporate and Other Operating profit (loss) includes Operational Excellence related transformation office and consulting fees of $35.3 million for the year ended December 31, 2023, which are recorded within Selling, distribution and administration costs within the Consolidated Statements of Operations. Third party consultants were engaged to assist the Company in performing a comprehensive review of operations and developing a transformation plan designed to support the organization in identifying, realizing, and capturing savings through the identification of organizational initiatives intended to create efficiencies and improve business processes and operations. The consultants assisted in providing benchmark data and are currently assisting with the design of an improved operating model and supply chain function. The Company expects this consulting assistance to conclude in 2024 in line with the planning stages of the final components of the transformation plan. Corporate and Other Operating Profit (loss) includes other consulting expense of $24.7 million for the year ended December 25, 2022, as well as incentive compensation for all periods presented

Summary of Net Revenues by Geographic Regions

The following table represents consolidated Consumer Products segment net revenues by major geographic region for the three fiscal years ended December 31, 2023.


(In millions)	2023		2022	2021
North America	$	1,649.1	2,064.8	2,315.9
Europe	669.5		899.5	1,067.7
Asia Pacific	256.3		293.4	310.1
Latin America	311.5		314.8	287.9
Net revenues	$	2,886.4	3,572.5	3,981.6

Summary of Net Revenues by Category and Brand Portfolio

The following table represents consolidated Wizards of the Coast and Digital Gaming segment net revenues by category for the three fiscal years ended December 31, 2023:


(In millions)	2023		2022	2021
Tabletop Gaming	$	1,072.5	1,067.0	950.6
Digital and Licensed Gaming	385.1		258.1	336.0
Net revenues	$	1,457.6	1,325.1	1,286.6

The following table represents consolidated Entertainment segment net revenues by category for the three fiscal years ended December 31, 2023.


(In millions)	2023		2022	2021
Film and TV	$	575.5	837.6	932.5
Family Brands	83.8		79.4	132.9
Music and Other	—		42.1	86.8
Net revenues	$	659.3	959.1	1,152.2

The following table presents consolidated net revenues by brand portfolio for the three fiscal years ended December 31, 2023.


(In millions)	2023		2022	2021
Franchise Brands	$	3,256.5	3,350.8	3,541.9
Partner Brands	687.8		1,052.0	1,161.0
Portfolio Brands	521.3		625.2	719.8

Non-Hasbro Branded Film & TV	537.7		828.7	997.7
Net revenues	$	5,003.3	5,856.7	6,420.4

Net revenue from Hasbro’s Total Gaming category, including all gaming revenues, most notably DUNGEONS
& DRAGONS, MAGIC: THE GATHERING and Hasbro Gaming, totaled $2,074.4 million, $1,997.5 million and $2,098.9 million for the years ended December 31, 2023, December 25, 2022 and December 26, 2021, respectively, of which MAGIC: THE GATHERING contributed $1,085.8 million, $1,065.2 million and $992.1 million.

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

Information as to Hasbro’s operations in different geographical areas is presented below on the basis the Company uses to manage its business. Net revenues are categorized based on the location of the customer, while long-lived assets (property, plant and equipment, goodwill and other intangibles) are categorized based on their location.


(In millions)	2023		2022	2021
Net revenues
United States	$	3,010.1	3,544.2	3,898.9
International	1,993.2		2,312.5	2,521.5
	$	5,003.3	5,856.7	6,420.4
Long-lived assets
United States	$	1,153.7	1,042.3	1,359.6
International	2,201.6		3,665.3	3,653.0
	$	3,355.3	4,707.6	5,012.6

Income Taxes - Unrecognized Tax Benefits Roll Forward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 77.8	$ 50.6	$ 67.8
Gross increases in prior period tax positions	11.9	0.9	0.6
Gross decrease from disposition	(10.4)	0.0	0.0
Gross decreases in prior period tax positions	(23.4)	(0.2)	(12.0)
Gross increases in current period tax positions	3.8	28.6	4.6
Decrease related to settlements with tax authorities	(8.4)	0.0	(2.7)
Decreases from the expiration of statute of limitations	(11.4)	(2.1)	(7.7)
Balance at end of year	$ 39.9	$ 77.8	$ 50.6

Pension, Postretirement and Postemployment Benefits - Narrative (Details) $ in Millions		1 Months Ended			12 Months Ended
	Jan. 01, 2020	Feb. 29, 2020 USD ($)	Dec. 31, 2019 USD ($)	May 31, 2019 USD ($)	Dec. 31, 2023 USD ($) defined_benefit_pension_plan	Dec. 25, 2022 USD ($)	Dec. 26, 2021 USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined contribution plan, cost					$ 40.9	$ 39.5	$ 42.7
Defined benefit plans, number of major plans covering non-union employees \| defined_benefit_pension_plan					2
Benefit liabilities							14.8
Employee retirement age, option one	65
Employee service period, option one	5 years
Employee retirement age, option two	55
Employee service period, option two	10 years
Unrecognized gains in pension and post retirement plans					$ 1.4
Expected benefit payment, 2029-2033					23.7
Foreign plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Pension expense					1.3	3.1	4.0
Projected benefit obligation					83.4	77.8
Fair value of plan assets					78.8	71.0
Expected benefit payment, 2024					3.2
Expected benefit payment, 2025					2.9
Expected benefit payment, 2026					3.2
Expected benefit payment, 2027					3.4
Expected benefit payment, 2028					7.3
Pension
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Pension expense					44.9	45.5	49.3
Transfers		$ 19.5
Settlements paid			$ 0.2	$ 110.8
Defined benefit obligations in the amount					30.1
Expected benefit payment, 2024					3.1
Expected benefit payment, 2025					3.0
Expected benefit payment, 2026					2.9
Expected benefit payment, 2027					2.8
Expected benefit payment, 2028					2.7
Expected benefit payment, 2029-2033					12.0
Pension \| UNITED STATES
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Excess assets for U.S. Pension Plan					20.2
Projected benefit obligation					30.1	30.3	41.6
Fair value of plan assets					$ 0.0	$ 0.0	$ 0.0

Investments in Productions and Investments in Acquired Content Rights - Programming Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022
Individual monetization
Released, net of amortization	$ 74.7	$ 584.5
Completed and not released	5.1	23.3
In production	27.1	199.4
Pre-production	10.4	41.3
Individual monetization, costs	117.3	848.5
Film/TV group monetization
Released, net of amortization	26.0	25.8
In production	23.6	22.2
Total film costs	49.6	48.0
Investment in other programming:
Released, net of amortization	16.1	9.8
In production	0.8	11.8
Pre-production	0.8	3.3
Other programming costs	17.7	24.9
Total program investments	184.6	$ 921.4
Productions and investments in acquired	$ 734.8

Pension, Postretirement and Postemployment Benefits

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Pension, Postretirement and Postemployment Benefits

Pension and Postretirement Benefits

The Company recognizes an asset or liability for each of its defined benefit pension plans equal to the difference between the projected benefit obligation of the plan and the fair value of the plan’s assets. Actuarial gains and losses and prior service costs that have not yet been included in income are recognized in the Consolidated Balance Sheets in AOCE. Reclassifications to earnings from AOCE related to pension and postretirement plans are recorded to Other expense (income).

Expenses related to the Company’s defined benefit pension and defined contribution plans for 2023, 2022 and 2021 were approximately $44.9 million, $45.5 million and $49.3 million, respectively. Of these amounts, $40.9 million, $39.5 million and $42.7 million, respectively, related to defined contribution plans in the United States and certain international subsidiaries. The remainder of the expense relates to defined benefit pension plans discussed below.

United States Plans

Prior to 2008, substantially all United States employees were covered under at least one of several non-contributory defined benefit pension plans maintained by the Company. Benefits under the two major plans which principally covered non-union employees, were based primarily on salary and years of service. Benefits under the remaining plans are based primarily on fixed amounts for specified years of service. In 2007, for the two major plans covering its non-union employees, the Company froze benefits being accrued effective at the end of December 2007. Following the August 2015 sale of its manufacturing facility in East Longmeadow, MA, the Company elected to freeze benefits related to its major plan covering union employees. Effective January 1, 2016, the plan covering union employees merged with and into the Hasbro Inc. Pension Plan, and ceased to exist as a separate plan on that date.

In February 2018, the Compensation Committee of the Company’s Board of Directors approved a resolution to terminate the Company’s U.S. defined benefit pension plan (“U.S. Pension Plan”). During the first quarter of 2018 the Company commenced the U.S. Pension Plan termination process and received regulatory approval during the fourth quarter of 2018. During the second quarter of 2019, the Company settled all remaining benefits directly with vested participants electing a lump sum payout, and purchased a group annuity contract from Massachusetts Mutual Life Insurance Company to administer all future payments to remaining U.S. Pension Plan participants. The U.S. Pension Plan's net funded asset position was sufficient to cover the lump sum payments and the purchase of the group annuity contract and settle all other remaining benefit obligations with no additional cost to the Company. After the settlement of the benefit obligations and payment of expenses, the Company had excess assets in the U.S. Pension Plan of approximately $20.2 million. The Company elected to utilize the remaining surplus after payment of administrative expenses for the Company's future matching contributions under the Company's 401(k) plan. The Company made a transfer of $19.5 million to the Company’s 401(k) plan which occurred in February 2020, with the remainder transferred in November 2021. Upon settlement of the pension liability, which occurred in May 2019, the Company recognized a non-operating settlement charge of $110.8 million, with an additional settlement charge of $0.2 million in December 2019, related to pension losses, reclassified from Accumulated other comprehensive loss to Other (income) expense in the Company's Consolidated Statements of Operations, adjusted for market conditions and settlement costs at benefit distribution.

During 2020, the Company merged its employee retirement agreements, which had beginning benefit liabilities of $14.8 million, with its remaining US pension plans.

As of December 31, 2023, the measurement date, the Company's remaining plans were unfunded with an aggregate accumulated and projected benefit obligation of $30.1 million.

The Company also provides certain postretirement health care and life insurance benefits to eligible employees who retired prior to January 1, 2020 and have either attained age 65 with 5 years of service or age 55 with 10 years of service. The cost of providing these benefits on behalf of employees who retired prior to 1993 has been substantially borne by the Company. The cost of providing benefits to all eligible employees who retire after 1992 is borne by the employee. The plan is not funded. During the fourth quarter of 2019, with the approval of the Compensation Committee of the Company's Board of Directors, the Company announced the elimination of the contributory postretirement health and life insurance coverage for employees whose retirement eligibility begins after December 31, 2019.

As of December 31, 2023, the Company had unrecognized gains related to its remaining U.S. pension and postretirement plans of $1.4 million.

Reconciliations of the beginning and ending balances for the projected benefit obligation, the fair value of plan assets and the funded status are included below for the years ended December 31, 2023 and December 25, 2022.


	Pension			Postretirement
(In millions)	2023		2022	2023	2022
Change in Projected Benefit Obligation
Projected benefit obligation — beginning	$	30.3	41.6	19.6	28.1

Interest cost	1.6		1.1	1.1	0.8

Actuarial loss (gain)	1.5		(9.3)	1.1	(7.6)
Benefits paid	(3.3)		(3.1)	(1.6)	(1.7)
Plan amendments	—		—	—	—


Projected benefit obligation — ending	$	30.1	30.3	20.2	19.6
Accumulated benefit obligation — ending	$	30.1	30.3	20.2	19.6
Change in Plan Assets
Fair value of plan assets — beginning	$	—	—	—	—






Fair value of plan assets — ending	$	—	—	—	—
Reconciliation of Funded Status
Projected benefit obligation	$	(30.1)	(30.3)	(20.2)	(19.6)
Fair value of plan assets	—		—	—	—
Funded status	(30.1)		(30.3)	(20.2)	(19.6)
Unrecognized prior service cost (credit)	—		—	(0.6)	(0.9)
Unrecognized net loss (earnings)	4.6		3.2	(2.6)	(3.8)
Net amount	$	(25.5)	(27.1)	(23.4)	(24.3)
Accrued liabilities	$	(3.0)	(3.0)	(1.5)	(1.5)
Other liabilities	(27.1)		(27.3)	(18.7)	(18.0)
Accumulated other comprehensive (earnings) loss	4.6		3.2	(3.2)	(4.8)
Net amount	$	(25.5)	(27.1)	(23.4)	(24.3)

Assumptions used to determine the year-end pension and postretirement benefit obligations are as follows:


	2023		2022
Pension
Weighted average discount rate	5.23	%	5.61	%
Mortality table	PriH-2012/Scale MP - 2021		PriH-2012/Scale MP - 2021
Postretirement
Discount rate	5.20	%	5.58	%
Health care cost trend rate assumed for next year	6.75	%	7.00	%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate)	5.00	%	5.00	%
Year that the rate reaches the ultimate trend	2031		2031

The following presents detail of the components of the net periodic benefit cost for the three years ended December 31, 2023.


(In millions)	2023		2022	2021
Components of Net Periodic Cost
Pension
Service cost	$	—	—	—
Interest cost	1.6		1.1	1.1
Expected return on assets	—		—	—

Amortization of actuarial loss	—		0.8	1.0
Curtailment/Settlement losses	—		—	0.5
Net periodic benefit cost	$	1.6	1.9	2.6
Postretirement
Interest cost	$	1.1	0.8	0.8
Amortization of service cost	(0.3)		(0.3)	—
Amortization of actuarial loss	(0.2)		0.1	—
Net periodic benefit cost	$	0.6	0.6	0.8

Assumptions used to determine net periodic benefit cost of the pension plan and postretirement plan for each fiscal year follow:


	2023		2022		2021
Pension
Weighted average discount rate	5.61	%	2.91	%	2.51	%
Long-term rate of return on plan assets	N/A		N/A		N/A
Postretirement
Discount rate	5.58	%	3.03	%	2.72	%
Health care cost trend rate assumed for next year	7.00	%	6.00	%	6.25	%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate)	5.00	%	5.00	%	5.00	%
Year that the rate reaches the ultimate trend rate	2031		2025		2025

Expected benefit payments under the defined benefit pension plans and the postretirement benefit plan for the next five years subsequent to 2023 and in the aggregate for the following five years are as follows:


(In millions)	Pension		Postretirement
2024	$	3.1	$	1.6
2025	3.0		1.6
2026	2.9		1.5
2027	2.8		1.5
2028	2.7		1.5
2029-2033	12.0		6.8

International Plans

Pension coverage for employees of Hasbro’s international subsidiaries is provided, to the extent deemed appropriate, through separate defined benefit and defined contribution plans. As of December 31, 2023 and December 25, 2022, the defined benefit plans had total projected benefit obligations of $83.4 million and $77.8 million, respectively, and fair values of plan assets of $78.8 million and $71.0 million, respectively. Substantially all of the plan assets are invested in equity and fixed income securities. The pension expense related to these plans was $1.3 million, $3.1 million and $4.0 million in 2023, 2022 and 2021, respectively. In fiscal 2024, the Company expects

an immaterial amount of unrecognized net losses, amortization of prior service costs and unrecognized transition obligation to be included as a component of net periodic benefit cost.

Expected benefit payments under the international defined benefit pension plans for the five years subsequent to 2023 and in the aggregate for the five years thereafter are as follows: 2024: $3.2 million; 2025: $2.9 million; 2026: $3.2 million; 2027: $3.4 million; 2028: $7.3 million; and 2029 through 2033: $23.7 million.

Postemployment Benefits

Hasbro has several plans covering certain groups of employees, which may provide benefits to such employees following their period of active employment but prior to their retirement. These plans include certain severance plans which provide benefits to employees involuntarily terminated and certain plans which continue the Company’s health and life insurance contributions for employees who have left Hasbro’s employ under terms of its long-term disability plan.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

Other Comprehensive Earnings (Loss) - Schedule of Accumulated Other Comprehensive Earnings (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 2,861.9	$ 3,063.1	$ 2,936.7
Current period other comprehensive earnings (loss)	50.5	(4.7)	(45.1)
Reclassifications from AOCE to earnings	2.9	(14.9)	4.8
Ending balance	1,087.0	2,861.9	3,063.1
Pension and Postretirement Amounts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(3.0)	(35.1)	(40.7)
Current period other comprehensive earnings (loss)	(0.3)	30.8	3.4
Reclassifications from AOCE to earnings	(0.9)	1.3	2.2
Ending balance	(4.2)	(3.0)	(35.1)
Gains (Losses) on Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(12.0)	(6.0)	(22.1)
Current period other comprehensive earnings (loss)	(8.6)	10.2	13.5
Reclassifications from AOCE to earnings	3.8	(16.2)	2.6
Ending balance	(16.8)	(12.0)	(6.0)
Unrealized Holding Gains (Losses) on Available for-Sale Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(0.1)	0.2	0.3
Current period other comprehensive earnings (loss)	0.0	(0.3)	(0.1)
Reclassifications from AOCE to earnings	0.0	0.0	0.0
Ending balance	(0.1)	(0.1)	0.2
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(239.8)	(194.4)	(132.5)
Current period other comprehensive earnings (loss)	59.4	(45.4)	(61.9)
Reclassifications from AOCE to earnings	0.0	0.0	0.0
Ending balance	(180.4)	(239.8)	(194.4)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(254.9)	(235.3)	(195.0)
Ending balance	$ (201.5)	$ (254.9)	$ (235.3)

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483421/250-10-45-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 23
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483421/250-10-45-23

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483421/250-10-45-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-5

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (i)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(3)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 15
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480336/718-10-65-15

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 15
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480336/718-10-65-15

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 15
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480336/718-10-65-15

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-5

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481674/830-30-50-1

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-17

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-20

Reference 29: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-11

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 205
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480767/946-205-45-3

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-3

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(19))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-2

Reference 34: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(6))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 38: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 39: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 40: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 41: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-15

Reference 42: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 16
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-16

Reference 43: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4I
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481175/810-10-55-4I

+ Details

Equity Method Investment (Details) - USD ($)	1 Months Ended	12 Months Ended
Equity Method Investment (Details) - USD ($)	Oct. 31, 2009	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021	Sep. 23, 2014
Schedule of Equity Method Investments [Line Items]
Income (loss) from equity method investments		$ 0	$ 0	$ (74,100,000)
The Network, Joint Venture
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50.00%				40.00%
Payments to acquire interest in joint venture	$ 300,000,000
Equity method investments		102,000,000	120,800,000
Impairment loss		1,300,000
Option agreement, exercise price, as percentage of fair market value of equity method investee					80.00%
Payments made under tax sharing agreement		5,700,000	5,400,000	5,300,000
The Network, Joint Venture \| Other liabilities
Schedule of Equity Method Investments [Line Items]
Option agreement		1,700,000	1,700,000
Remaining Present Value Of Expected Future Payments		9,000,000	14,400,000
Income (loss) on tax sharing agreement		0	700,000
The Network, Joint Venture \| Other expense
Schedule of Equity Method Investments [Line Items]
Income (loss) from equity method investments		$ 10,900,000	$ 8,100,000	$ 20,800,000
The Network, Joint Venture \| Discovery
Schedule of Equity Method Investments [Line Items]
Joint venture, ownership interest					60.00%

Stock Options, Other Stock Awards and Warrants - Options Valuation Assumptions (Details) - Share-based Payment Arrangement, Option	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	4.44%	1.79%	0.50%
Expected dividend yield	4.95%	2.95%	3.01%
Expected volatility	38.00%	37.00%	38.00%
Expected option life (in years)	3 years	4 years	4 years

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Revenue Recognition - Contract Assets and Liabilities (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Change In Contract With Customer, Asset [Roll Forward]
Balance at beginning of the year	$ 594.4
Recognized in current year	478.6
Amounts reclassified	(474.2)
Assets disposed	(402.3)
Foreign currency impact	16.8
Ending Balance	213.3
Change In Contract With Customer, Liability [Roll Forward]
Balance at beginning of the year	113.0
Recognized in current year	460.1
Amounts in beginning balance reclassified to revenue	(89.9)
Current year amounts reclassified to revenue	(224.3)
Liabilities disposed	(25.8)
Foreign currency impact	(2.3)
Ending Balance	$ 230.8

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	KPMG LLP
Auditor Location	Providence, Rhode Island
Auditor Firm ID	185

Segment Reporting - Net Revenues by Geographic Regions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	$ 5,003.3	$ 5,856.7	$ 6,420.4
Reportable geographical components
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	2,886.4	3,572.5	3,981.6
North America \| Reportable geographical components
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	1,649.1	2,064.8	2,315.9
Europe \| Reportable geographical components
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	669.5	899.5	1,067.7
Asia Pacific \| Reportable geographical components
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	256.3	293.4	310.1
Latin America \| Reportable geographical components
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	$ 311.5	$ 314.8	$ 287.9

- 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).

+ References

+ Details

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 25, 2022
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, net	$ 488.6	$ 422.8
Total property, plant and equipment, net	361.9	304.5
Right of use assets	208.4	239.6
Less accumulated depreciation	81.7	121.3
Land and improvements
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	3.5	3.1
Buildings and improvements
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	225.9	221.1
Machinery, equipment and software
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	706.7	672.4
Land and Improvements, Buildings and Improvements, and Machinery, Equipment and Software
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	936.1	896.6
Less accumulated depreciation	618.9	654.5
Total property, plant and equipment, net	317.2	242.1
Tools, dies and molds
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, net	$ 44.7	$ 62.4

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

12 Months Ended

Dec. 31, 2023

Other Industries [Abstract]

Schedule of Programming Costs

Programming costs are included in Other assets and consist of the following at December 31, 2023 and December 25, 2022:


(In millions)	2023 (1)		2022
Investment in Films and Television Programs:
Individual monetization
Released, net of amortization	$	74.7	584.5
Completed and not released	5.1		23.3
In production	27.1		199.4
Pre-production	10.4		41.3
	117.3		848.5
Film/TV group monetization
Released, net of amortization	26.0		25.8

In production	23.6		22.2

	49.6		48.0
Investment in other programming:
Released, net of amortization	16.1		9.8

In production	0.8		11.8
Pre-production	0.8		3.3
	17.7		24.9

Total program investments	$	184.6	921.4

(1) Investments in productions and investments in acquired content totaling $734.8 million have been 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.

Summary of Program Cost Amortization

The Company recorded $448.9 million of program cost amortization related to released programming during 2023, consisting of the following:


(In millions)	Investment in Production		Investment in Content	Total
Program cost amortization	$	400.7	48.2	448.9

Based on management’s total revenue estimates as of December 31, 2023, the Company's expected future amortization expenses for capitalized programming costs over the next three years are as follows:


(In millions)	2024		2025	2026
Estimated Future Amortization Expense:
Individual monetization
Released	$	10.1	11.6	6.4


Film/TV group monetization

Released	15.4		16.7	25.2

Total	$	25.5	28.3	31.6

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021	Dec. 27, 2020
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Loss and credit carryforwards	$ 461.9	$ 175.3
Increase of operating loss carryforwards	286.6
Deferred tax assets, valuation allowance	432.0	189.8
Increase of valuation allowance, deferred tax asset	242.2
Additional foreign tax withholding amount	3.2
Unrecognized tax benefits	39.9	77.8	$ 50.6	$ 67.8
Unrecognized tax benefits that would impact effective tax rate	46.0	53.0	46.0
Income taxes recognized potential interest and penalties	5.8	2.2	2.6
Unrecognized tax benefits, income tax penalties and interest accrued	6.2	$ 8.8	$ 7.3
Foreign Tax Authority \| Swiss Federal Tax Administration (FTA)
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Deferred tax asset related to tax intangibles	135.6
Domestic Tax Authority \| Capital Loss Carryforward
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Tax credit carryforward, amount	375.6
Tax credit carryforward, valuation allowance	364.8
Minimum
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Decrease in unrecognized tax benefits is reasonably possible	0.0
Maximum
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Decrease in unrecognized tax benefits is reasonably possible	$ 4.0

Sale of Non-core Entertainment One Film and TV Business - Additional Information (Details) - USD ($) $ in Millions		12 Months Ended
	Dec. 27, 2023	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on disposal of business		$ 539.0	$ 22.1	$ 108.8
eOne Film And TV Business \| Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate sales price	$ 375.0
Loss on disposal of business	539.0
Pre-tax cash transaction expenses	35.1
Total Assets	1,500.0	1,486.0
Total Liabilities	$ 542.0	$ 542.0

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

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Summary of Major Classes of Assets and Liabilities Held for Sale

The following table presents the carrying amounts of the major classes of eOne Film and TV assets and liabilities sold on December 27, 2023:


(In millions)	December 27, 2023
Assets sold:
Cash and cash equivalents	$	54.1
Accounts receivable	87.9
Inventories	2.4
Other current assets	402.6
Property, plant and equipment	54.0
Other assets	885.0
Total assets sold	$	1,486.0

Liabilities sold:
Short-term borrowings	$	100.0
Current portion of long-term debt	5.8
Accounts payable and accrued liabilities	375.9
Long-term debt	0.8
Other liabilities	59.5
Total liabilities sold	$	542.0

The following table summarizes loss before income taxes attributable to eOne Film and TV through the date of the transaction:


(In millions)	2023 (1)		2022		2021
eOne Film and TV loss before income taxes	$	(371.6)	$	(7.3)	$	(10.3)

(1) Income before taxes includes operating results prior to the close of the sale of the Film and TV Business on December 27, 2023.

- 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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-SubTopic 10
-Topic 360
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482099/360-10-50-3

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483475/205-20-45-11

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-3A

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-4A

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-4B

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-5A

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-5B

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5C
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-5C

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-5D

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-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 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482099/360-10-50-3A

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 20
-Topic 205
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-1

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-3

+ Details

Restructuring Actions (Tables)

12 Months Ended

Dec. 31, 2023

Restructuring Charges [Abstract]

Schedule of Changes in Restructuring Reserves

As of December 31, 2023, the liability balance associated with Program related restructuring actions consisted of severance payments recorded within Other accrued liabilities in the Consolidated Balance Sheets as follows:

(In millions)

Total

Operational Excellence:

Balance at December 25, 2022

84.9

2023 charges

38.2

2023 payments

(41.9)

Balance at December 31, 2023

81.2

Schedule of Restructuring and Related Costs

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 plan as of December 31, 2023:

(In millions)

Total

Operational Excellence:

Charges incurred to date

132.3

Estimated charges to be incurred on approved initiatives

—

Total expected charges on approved initiatives

132.3

Consolidated Statement of Cash Flows - USD ($)	12 Months Ended
Consolidated Statement of Cash Flows - USD ($)	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Cash flows from operating activities
Net earnings (loss)	$ (1,487,800,000)	$ 203,000,000.0	$ 435,300,000
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation of property, plant and equipment	127,700,000	127,300,000	163,300,000
Loss on disposal of business	539,000,000.0	22,100,000	108,800,000
Impairment of goodwill	1,191,200,000	0	0
Impairment of intangibles and production assets	116,000,000.0	281,000,000.0	0
Loss on Discovery investment	0	0	74,100,000
Fair value adjustment on Discovery Option	0	0	(20,100,000)
Inventory obsolescence	91,200,000	45,200,000	8,400,000
Amortization of intangible assets	83,000,000.0	105,300,000	116,800,000
Program cost amortization	448,900,000	555,500,000	628,600,000
Deferred income taxes	(243,500,000)	(130,100,000)	36,000,000.0
Stock-based compensation	72,400,000	83,400,000	97,800,000
Other non-cash items	(6,100,000)	3,200,000	(1,500,000)
Changes in operating assets and liabilities, net of acquired and disposed balances:
Decrease (increase) in accounts receivable	15,500,000	339,600,000	(159,500,000)
Decrease (increase) in inventories	257,100,000	(184,700,000)	(182,300,000)
Decrease (increase) in prepaid expenses and other current assets	34,700,000	17,000,000.0	(30,600,000)
Program spend, net	(408,000,000.0)	(767,700,000)	(697,300,000)
(Decrease) increase in accounts payable and accrued liabilities	(109,700,000)	(278,700,000)	313,200,000
Change in net deemed repatriation tax	(34,400,000)	(18,400,000)	(18,400,000)
Other	38,400,000	(30,100,000)	(54,700,000)
Net cash provided by operating activities	725,600,000	372,900,000	817,900,000
Cash flows from investing activities
Additions to property, plant and equipment	(209,300,000)	(174,200,000)	(132,700,000)
Investments and acquisitions, net of cash acquired	0	(146,300,000)	0
Proceeds from sale of business, net of cash transferred	329,600,000	0	378,500,000
Other	(2,700,000)	7,500,000	(3,800,000)
Net cash provided (utilized) by investing activities	117,600,000	(313,000,000.0)	242,000,000.0
Cash flows from financing activities
Proceeds from borrowings	2,600,000	3,800,000	144,000,000.0
Repayments of borrowings	(359,600,000)	(206,000,000.0)	(1,220,100,000)
Net (repayments) proceeds of other short-term borrowings	(41,600,000)	141,700,000	(5,600,000)
Purchases of common stock	0	(125,000,000.0)	0
Stock-based compensation transactions	0	74,200,000	30,600,000
Dividends paid	(388,000,000.0)	(385,300,000)	(374,500,000)
Payments related to tax withholding for share-based compensation	(16,800,000)	(24,000,000.0)	(13,700,000)
Debt extinguishment costs	0	0	(9,100,000)
Other	(14,700,000)	(32,700,000)	(11,400,000)
Net cash utilized by financing activities	(818,100,000)	(553,300,000)	(1,459,800,000)
Effect of exchange rate changes on cash	7,200,000	(12,700,000)	(30,600,000)
Increase (decrease) in cash, cash equivalents and restricted cash	32,300,000	(506,100,000)	(430,500,000)
Cash, cash equivalents and restricted cash at beginning of year	513,100,000	1,019,200,000	1,449,700,000
Cash, cash equivalents and restricted cash at end of year	545,400,000	513,100,000	1,019,200,000
Supplemental information
Interest paid	179,000,000.0	161,700,000	171,900,000
Income taxes paid	$ 119,800,000	$ 177,200,000	$ 160,500,000

Pension, Postretirement and Postemployment Benefits (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Summary of Changes in Projected Benefit Obligation, Plan Assets and Funded Status


	Pension			Postretirement
(In millions)	2023		2022	2023	2022
Change in Projected Benefit Obligation
Projected benefit obligation — beginning	$	30.3	41.6	19.6	28.1

Interest cost	1.6		1.1	1.1	0.8

Actuarial loss (gain)	1.5		(9.3)	1.1	(7.6)
Benefits paid	(3.3)		(3.1)	(1.6)	(1.7)
Plan amendments	—		—	—	—


Projected benefit obligation — ending	$	30.1	30.3	20.2	19.6
Accumulated benefit obligation — ending	$	30.1	30.3	20.2	19.6
Change in Plan Assets
Fair value of plan assets — beginning	$	—	—	—	—






Fair value of plan assets — ending	$	—	—	—	—
Reconciliation of Funded Status
Projected benefit obligation	$	(30.1)	(30.3)	(20.2)	(19.6)
Fair value of plan assets	—		—	—	—
Funded status	(30.1)		(30.3)	(20.2)	(19.6)
Unrecognized prior service cost (credit)	—		—	(0.6)	(0.9)
Unrecognized net loss (earnings)	4.6		3.2	(2.6)	(3.8)
Net amount	$	(25.5)	(27.1)	(23.4)	(24.3)
Accrued liabilities	$	(3.0)	(3.0)	(1.5)	(1.5)
Other liabilities	(27.1)		(27.3)	(18.7)	(18.0)
Accumulated other comprehensive (earnings) loss	4.6		3.2	(3.2)	(4.8)
Net amount	$	(25.5)	(27.1)	(23.4)	(24.3)

Assumptions used to determine year-end pension and postretirement benefit obligations

Assumptions used to determine the year-end pension and postretirement benefit obligations are as follows:


	2023		2022
Pension
Weighted average discount rate	5.23	%	5.61	%
Mortality table	PriH-2012/Scale MP - 2021		PriH-2012/Scale MP - 2021
Postretirement
Discount rate	5.20	%	5.58	%
Health care cost trend rate assumed for next year	6.75	%	7.00	%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate)	5.00	%	5.00	%
Year that the rate reaches the ultimate trend	2031		2031

Components of Net Periodic Benefit Cost

The following presents detail of the components of the net periodic benefit cost for the three years ended December 31, 2023.


(In millions)	2023		2022	2021
Components of Net Periodic Cost
Pension
Service cost	$	—	—	—
Interest cost	1.6		1.1	1.1
Expected return on assets	—		—	—

Amortization of actuarial loss	—		0.8	1.0
Curtailment/Settlement losses	—		—	0.5
Net periodic benefit cost	$	1.6	1.9	2.6
Postretirement
Interest cost	$	1.1	0.8	0.8
Amortization of service cost	(0.3)		(0.3)	—
Amortization of actuarial loss	(0.2)		0.1	—
Net periodic benefit cost	$	0.6	0.6	0.8

Assumptions Used to Determine Net Periodic Benefit Cost of Pension Plan and Postretirement Plan

Assumptions used to determine net periodic benefit cost of the pension plan and postretirement plan for each fiscal year follow:


	2023		2022		2021
Pension
Weighted average discount rate	5.61	%	2.91	%	2.51	%
Long-term rate of return on plan assets	N/A		N/A		N/A
Postretirement
Discount rate	5.58	%	3.03	%	2.72	%
Health care cost trend rate assumed for next year	7.00	%	6.00	%	6.25	%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate)	5.00	%	5.00	%	5.00	%
Year that the rate reaches the ultimate trend rate	2031		2025		2025

Schedule of Expected Benefit Payments


(In millions)	Pension		Postretirement
2024	$	3.1	$	1.6
2025	3.0		1.6
2026	2.9		1.5
2027	2.8		1.5
2028	2.7		1.5
2029-2033	12.0		6.8

Derivative Financial Instruments

12 Months Ended

Dec. 31, 2023

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, television and film production cost and production financing facilities (see note 11) as well as other cross-border transactions not denominated in the functional currency of the business unit, are primarily denominated in United States and Hong Kong dollars, and Euros. All contracts are entered into with a number of counterparties, all of which are major financial institutions. The Company believes that a default by a single counterparty would not have a material adverse effect on the financial condition of the Company. Hasbro does not enter into derivative financial instruments for speculative purposes.

Cash Flow Hedges

All of the Company’s designated foreign currency forward contracts 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 in 2024.


	2023			2022
(In millions)	Notional Amount		Fair Value	Notional Amount	Fair Value
Hedged transaction
Inventory purchases	$	129.9	(1.7)	166.3	(2.7)
Sales	89.7		(0.2)	99.2	1.2
Production financing and other	31.7		(0.5)	116.8	1.5
Total	$	251.3	(2.4)	382.3	—

The Company has a master agreement with each of its counterparties that allows for the netting of outstanding forward contracts. The fair values of the Company’s foreign currency forward contracts designated as cash flow hedges are recorded in the Consolidated Balance Sheets at December 31, 2023 and December 25, 2022 as follows:


(In millions)	2023		2022
Prepaid expenses and other current assets
Unrealized gains	$	0.5	4.3
Unrealized losses	(0.1)		(1.8)
Net unrealized gains	$	0.4	2.5
Other assets
Unrealized gains	$	—	0.3
Unrealized losses	—		—
Net unrealized gains	$	—	0.3
Accrued liabilities
Unrealized gains	$	0.7	1.6
Unrealized losses	(3.5)		(4.4)
Net unrealized losses	$	(2.8)	(2.8)


(In millions)	2023		2022	2021
Consolidated Statements of Operations Classification
Cost of sales	$	(1.1)	17.3	(4.7)
Net revenues	0.2		2.3	1.0
Other	(2.2)		(0.9)	2.0
Net realized (losses) gains	$	(3.1)	18.7	(1.7)

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. The Company does not use hedge accounting for these contracts as changes in the fair values of these contracts are offset by changes in the fair value of the balance sheet items. As of December 31, 2023 and December 25, 2022, the total notional amounts of the Company’s undesignated derivative instruments were $340.5 million and $765.6 million, respectively.

As of December 31, 2023 and December 25, 2022, the fair value of the Company’s undesignated derivative financial instruments are recorded in the Consolidated Balance Sheets as follows:


(In millions)	2023		2022
Prepaid expenses and other current assets
Unrealized gains	$	0.3	10.9
Unrealized losses	—		(5.9)
Net unrealized gains	$	0.3	5.0

Accrued liabilities
Unrealized gains	$	1.4	—
Unrealized losses	(2.5)		—
Net unrealized losses	$	(1.1)	—
Total unrealized (losses) gains, net	$	(0.8)	5.0

The Company recorded net gains of $23.4 million, $42.1 million and $4.6 million on these instruments to Other expense (income), net for 2023, 2022 and 2021, respectively, relating to the change in fair value of such derivatives, substantially offsetting gains and losses from the change in fair value of intercompany loans to which the instruments relate.

For additional information related to the Company’s derivative financial instruments see notes 4 and 14.

Consolidated Statements of Shareholders’ Equity and Redeemable Noncontrolling Interests - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock	Non-controlling Interests
Beginning balance at Dec. 27, 2020	$ 2,936.7	$ 110.1	$ 2,329.1	$ 4,204.2	$ (195.0)	$ (3,551.7)	$ 40.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings attributable to Hasbro, Inc.	428.7			428.7
Net earnings (loss) attributable to noncontrolling interests	3.3						3.3
Change in put option value	(1.3)		(1.3)
Other comprehensive loss (earnings)	(40.3)				(40.3)
Stock-based compensation transactions	16.8		1.2			15.6
Stock-based compensation expense	97.8		96.4			1.4
Dividends declared	(375.1)			(375.1)
Distributions paid to noncontrolling owners and other foreign exchange	(3.5)		2.6				(6.1)
Ending balance at Dec. 26, 2021	3,063.1	110.1	2,428.0	4,257.8	(235.3)	(3,534.7)	37.2
Beginning balance at Dec. 27, 2020	24.4
Increase (Decrease) in Temporary Equity [Roll Forward]
Net earnings attributable to noncontrolling interests	3.3
Distributions paid to noncontrolling owners and other foreign exchange	(3.8)
Ending balance at Dec. 26, 2021	23.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings attributable to Hasbro, Inc.	203.5			203.5
Net earnings (loss) attributable to noncontrolling interests	(1.1)						(1.1)
Change in put option value	(0.4)		(0.4)
Other comprehensive loss (earnings)	(19.6)				(19.6)
Stock-based compensation transactions	48.5		23.5			25.0
Stock-based compensation expense	83.4		83.1			0.3
Dividends declared	(388.0)		1.9	(389.9)
Distributions paid to noncontrolling owners and other foreign exchange	(2.5)		0.0				(2.5)
Purchase of common stock	(125.0)					(125.0)
Buyout of redeemable noncontrolling interest			4.5				(4.5)
Ending 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 Temporary Equity [Roll Forward]
Net earnings attributable to noncontrolling interests	0.6
Distributions paid to noncontrolling owners and other foreign exchange	(1.9)
Buyout of redeemable noncontrolling interest	(22.6)
Ending balance at Dec. 25, 2022	0.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings attributable to Hasbro, Inc.	(1,489.3)			(1,489.3)
Net earnings (loss) attributable to noncontrolling interests	1.5						1.5
Other comprehensive loss (earnings)	53.4				53.4
Stock-based compensation transactions	(16.9)		(23.1)			6.2
Stock-based compensation expense	72.4		69.9			2.5
Dividends declared	(388.4)		5.3	(393.7)
Distributions paid to noncontrolling owners and other foreign exchange	(5.5)						(5.5)
Buyout of redeemable noncontrolling interest	(2.1)		(2.1)
Ending balance at Dec. 31, 2023	1,087.0	$ 110.1	$ 2,590.6	$ 2,188.4	$ (201.5)	$ (3,625.7)	$ 25.1
Ending balance at Dec. 31, 2023	$ 0.0

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 25, 2022
Statement of Financial Position [Abstract]
Restricted cash	$ 0.6	$ 14.5
Accounts receivable, allowance for doubtful accounts	$ 12.7	$ 20.0
Preference stock, par value (in dollars per share)	$ 2.50	$ 2.50
Preference stock, shares authorized (in shares)	5,000,000	5,000,000
Preference stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.50	$ 0.50
Common stock, shares authorized (in shares)	600,000,000	600,000,000
Common stock, shares issued (in shares)	220,286,736	220,286,736
Treasury stock, at cost, shares (in shares)	81,498,181	82,106,383

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 25, 2022
Deferred tax assets:
Accounts receivable	$ 31.8	$ 28.8
Inventories	33.2	22.6
Loss and credit carryforwards	461.9	175.3
Operating leases	3.5	11.2
Operating expenses	19.1	29.9
Pension	6.9	9.1
Other compensation	46.4	50.7
Postretirement benefits	5.9	5.7
Interest rate hedge	4.8	4.5
Tax sharing agreement	0.3	0.3
Deferred revenue	0.4	4.4
Capitalized research and experimentation	100.6	81.2
Depreciation and amortization of long-lived assets	192.0	63.2
Interest expense limitation	28.7	0.0
Other	3.7	11.7
Gross deferred tax assets	939.2	498.6
Deferred tax liabilities:
Depreciation and amortization of long-lived assets	108.0	125.0
Equity method investment	19.0	14.9
Operating leases	1.1	9.3
Prepaid expenses	4.0	4.4
Other	22.8	15.4
Gross deferred tax liabilities	154.9	169.0
Valuation allowance	(432.0)	(189.8)
Net deferred income taxes	$ 352.3	$ 139.8

Restructuring Actions - Schedule of Restructuring Charges (Details) - Operational Excellence Program $ in Millions	Dec. 31, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Charges incurred to date	$ 132.3
Estimated charges to be incurred on approved initiatives	0.0
Total expected charges on approved initiatives	$ 132.3

- 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

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Hasbro had unused open letters of credit and related instruments of approximately $13.3 million and $11.9 million at December 31, 2023 and December 25, 2022, respectively. The Company enters into license agreements with strategic partners, inventors, designers and others for the use of intellectual properties in its products. Certain of these agreements contain provisions for the payment of guaranteed or minimum royalty amounts. Under terms of existing agreements as of December 31, 2023, Hasbro may, provided the other party meets their contractual commitment, be required to pay amounts as follows: 2024: $108.6 million; 2025: $103.5 million; 2026: $73.2 million; 2027: $34.0 million; 2028: $5.0 million; and thereafter: $5.0 million. As of December 31, 2023, the Company had $19.0 million of prepaid royalties, all of which are included in prepaid expenses and other current assets. Interest payment obligations on the Company's fixed-rate long-term debt are as follows: 2024: $145.9 million; 2025: $130.9 million; 2026: $130.9 million; 2027: $104.0 million; 2028: $87.0 million; and thereafter: $632.1 million. See note 11 for information on repayment terms for the Company's variable rate term loans. The Company enters into contracts with certain partners which among other things, provide the Company with the right of first refusal to purchase, distribute, or license certain entertainment projects or content. As of December 31, 2023, the Company estimates that it may be obligated to pay $3.9 million and $1.5 million in 2024 and 2025, respectively, related to such agreements. In connection with the Company’s agreement to form a joint venture with Discovery, the Company is obligated to make future payments to Discovery under a tax sharing agreement. The Company estimates these payments may total approximately $9.9 million and may range from approximately $0.4 million to $6.4 million per year during the period 2024 to 2026, with no remaining payments due thereafter. These payments are contingent upon the Company having sufficient taxable income to realize the expected tax deductions of certain amounts related to the joint venture. As of December 31, 2023, the Company estimates payments related to inventory and tooling purchase commitments may total approximately $157.3 million. Hasbro is party to certain legal proceedings, as well as certain asserted and unasserted claims. Amounts accrued, as well as the total amount of reasonably possible losses with respect to such matters, individually and in the aggregate, are not deemed to be material to the consolidated financial statements. See note 17 for additional information on the Company's future lease payment commitments. See note 11 for additional information on the Company's long-term debt and production financing repayments.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Preparation of Consolidated Financial Statements

The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and notes thereto. Actual results could differ from those estimates. Certain reclassifications have been made to the prior periods’ consolidated financial statements in order to conform to the current period presentation. These reclassifications did not impact any prior amounts of net earnings (loss) or cash flows.

Principles of Consolidation

The consolidated financial statements include the accounts of Hasbro, Inc. and all majority-owned subsidiaries (“Hasbro” or the “Company”). Investments representing 20% to 50% ownership interests in other companies are accounted for using the equity method. For those majority-owned subsidiaries that are not 100% owned by Hasbro, the interests of the minority owners are accounted for as noncontrolling interests.

All intercompany balances and transactions have been eliminated.

Fiscal Year

Hasbro’s fiscal year ends on the last Sunday in December. The fiscal year ended December 31, 2023 was a fifty-three week period. The fiscal years ended December 25, 2022, and December 26, 2021 were each fifty-two week periods.

Strategy Review and Operational Excellence

In October 2022, following a several months long review of our business, the Company announced a new strategic plan, a consumer-centric framework for bringing compelling and expansive brand experiences to audiences around the world. During the review, with the assistance of a third-party consultant, the Company identified opportunities to focus and scale its business, enhance operational excellence, including through specialized organizational programs and supply chain transformation, to drive growth and profit and enhance shareholder value. The Company is increasing strategic investment in its most valuable and profitable franchises across toys, games, licensing and entertainment, and exiting certain non-core aspects of the business.

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. Lionsgate acquired eOne Film and TV for a purchase price of $375.0 million in cash, subject to certain purchase price adjustments plus the assumption by Lionsgate of production financing loans.

See note 3 for additional information.

Brand Portfolio Realignment

Effective for the first quarter 2023, we realigned our brand portfolios to correspond with the evolution of our strategy. We are focusing on fewer, bigger, more profitable brands that showcase our leadership in preschool toys, action figures and accessories, games, arts & crafts, and outdoor action brands.

Our new product categories beginning in the first quarter of 2023 are as follows:

Franchise Brands - A refreshed group of our most financially significant brands which we consider to have the greatest long-term potential including MAGIC: THE GATHERING, Hasbro Gaming, PLAY-DOH, NERF, TRANSFORMERS, DUNGEONS & DRAGONS and PEPPA PIG.

Partner Brands - The Partner Brands category includes those brands we license from other parties such as Disney's STAR WARS and MARVEL brands as well as other partners, for which we develop toy and game products, with a focus on those key Partner Brands that give us the largest growth potential and where we can lead and innovate in the category.

Portfolio Brands - Our Portfolio Brands category includes those brands we own or control which we feel have upside in revenue and profitability that have not yet grown to the significance of a franchise brand.

Non-Hasbro Branded Film & TV - The Non-Hasbro Branded Film & TV category includes non-Hasbro-branded film, TV and other entertainment related revenues, the majority of which are associated with the Company's non-core eOne Film and TV business sold to Lionsgate. All Hasbro-branded content is included in the portfolios noted above.

Cash, Cash Equivalents and Restricted Cash

Cash and cash equivalents include all cash balances and highly liquid investments purchased with an initial maturity to the Company of three months or less.

Marketable Securities

Included in marketable securities is common stock in a public company arising from a business relationship. This type of investment is also included in Prepaid expenses and other current assets in the accompanying Consolidated Balance Sheets.

Accounts Receivable and Allowance for Credit Losses

Credit is granted to customers predominantly on an unsecured basis. Credit limits and payment terms are established based on extensive evaluations made on an ongoing basis throughout the fiscal year with regard to the financial performance, cash generation, financing availability and liquidity status of each customer. The majority of customers are formally reviewed at least annually; more frequent reviews are performed based on the customer’s financial condition and the level of credit being extended. For customers on credit who are experiencing financial difficulties, management performs additional financial analyses before shipping orders. The Company uses a variety of financial transactions, based on availability and cost, to increase the collectability of certain of its accounts, including letters of credit, credit insurance, and requiring cash in advance of shipping.

The Company records an allowance for credit losses for accounts receivable based on management’s expected credit losses. Management's estimate of expected credit losses is based on its assessment of the business environment, customers’ financial condition, historical collection experience, accounts receivable aging and customer disputes.

Accounts receivable, net on the Consolidated Balance Sheets represents amounts due from customers less the allowance for credit losses as well as allowances for discounts, rebates and returns.

Inventories

Inventories are valued at the lower of cost (first-in, first-out) or net realizable value. Based upon a consideration of quantities on hand, actual and projected sales volume, anticipated product selling price and product lines planned to be discontinued, slow-moving and obsolete inventory is written down to its estimated net realizable value. At both December 31, 2023 and December 25, 2022, substantially all inventory is comprised of finished goods.

Equity Method Investment

For the Company’s equity method investments, only the Company’s investment in and amounts due to and from the equity method investment are included in the Consolidated Balance Sheets and only the Company’s share of the equity method investment’s earnings (losses) is included in Other expense (income), net in the Consolidated Statements of Operations. Dividends, cash distributions, loans or other cash received from the equity method investment, additional cash investments, loan repayments or other cash paid to the investee are included in the Consolidated Statements of Cash Flows.

The Company reviews its equity method investments for impairment on a periodic basis. If it has been determined that the fair value of the equity investment is less than its related carrying value and that this decline is other-than-temporary, the carrying value of the investment is adjusted downward to reflect these declines in value. The Company owns an interest in a joint venture, Discovery Family Channel (“the Network”), with Discovery Communications, Inc. (“Discovery”). The Company has determined that it does not meet the control requirements to consolidate the Network and accounts for the investment using the equity method of accounting.

The Company and Discovery are also party to an option agreement with respect to the Network. The Company has recorded a liability for this option agreement at fair value which is included in Other liabilities in the Consolidated Balance Sheets. Unrealized gains and losses on this option are recognized in Other expense (income), net in the Consolidated Statements of Operations as they occur.

See notes 7 and 14 for additional information.

Noncontrolling Interests

The financial results and position of the noncontrolling interests acquired through the acquisition of eOne are included in their entirety in the Company’s Consolidated Statements of Operations and Consolidated Balance Sheets beginning with the first quarter of 2020. The value of the redeemable noncontrolling interests is presented in the Consolidated Balance Sheets as temporary equity between liabilities and shareholders' equity. During 2022, the Company redeemed all outstanding redeemable noncontrolling interest in Renegade Entertainment, LLC, the only entity for which the Company previously held redeemable noncontrolling interest. During 2022, the Company's outstanding non-redeemable noncontrolling interest in Round Room Live, LLC was included with the disposition of certain non-core businesses associated with the Company's strategy shift. The value of the non-redeemable noncontrolling interests is presented in the Consolidated Balance Sheets within Total shareholders' equity. Earnings (losses) attributable to the redeemable noncontrolling interests and non-redeemable noncontrolling interests are presented as a separate line on the Consolidated Statements of Operations which is necessary to identify those earnings (losses) specifically attributable to Hasbro. The Company's remaining non-redeemable noncontrolling interests as of December 31, 2023 is shown below.

Name

Country of Incorporation

Ownership Interest

Proportion Held

Principal Activity

Astley Baker Davies Limited

England and Wales

Nonredeemable

70%

Ownership of intellectual property

Property, Plant and Equipment, Net

Property, plant and equipment are stated at cost less accumulated depreciation. Depreciation is computed using accelerated and straight-line methods to depreciate the cost of property, plant and equipment over their estimated useful lives. The principal lives, in years, used in determining depreciation rates of various assets are: land improvements 15 to 19, buildings and improvements 15 to 25 and machinery and equipment (including computer hardware and software) 3 to 12. Depreciation expense is classified in the Consolidated Statements of Operations based on the nature of the property and equipment being depreciated. Tools, dies and molds are depreciated over their useful lives, which is generally three years, using an accelerated method. The Company generally owns all tools, dies and molds related to its products.

Property, plant and equipment, net is reviewed for impairment whenever events or circumstances indicate the carrying value may not be recoverable. Recoverability is measured by a comparison of the carrying amount of the asset or related asset group to future undiscounted cash flows expected to be generated by the asset or asset group. If such assets are considered to be impaired, the impairment to be recognized would be measured by the amount by which the carrying value of the assets exceeds their fair value wherein the fair value is the appraised value. Furthermore, assets to be disposed of are carried at the lower of the net book value or their estimated fair value less disposal costs.

Goodwill and Other Intangible Assets, Net

Goodwill results from acquisitions the Company has made over time. Substantially all of the Company's other intangible assets consist of the cost of acquired product rights. In establishing the value of such rights, the Company considers existing trademarks, copyrights, patents, license agreements and other product-related rights. These rights were valued on their acquisition dates based on the anticipated future cash flows from the underlying product lines. The Company has certain intangible assets related to the Tonka and Milton Bradley acquisitions that have indefinite lives.

Goodwill and intangible assets deemed to have indefinite lives are not amortized and are tested for impairment at least annually. The annual goodwill test begins with a qualitative assessment, where qualitative factors and their impact on critical inputs are assessed to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If the Company determines that a reporting unit has an indication of impairment based on the qualitative assessment, a quantitative impairment assessment is performed.

The Company's intangible assets having definite lives are being amortized over periods ranging from two to nineteen years, primarily using the straight-line method.

The Company reviews intangible assets with definite lives for impairment whenever events or changes in circumstances indicate the carrying value may not be recoverable. Recoverability is measured by a comparison of the carrying amount of the asset to future undiscounted cash flows expected to be generated by the asset or asset group. If such assets were considered to be impaired, the impairment to be recognized would be measured by the amount by which the carrying value of the assets exceeds their fair value wherein that fair value is determined based on discounted cash flows.

The Company's reporting units are determined in accordance with the provisions of Accounting Standards Codification (“ASC”) 350, “Intangibles - Goodwill and Other (Topic 350).” The Company performs its annual impairment testing of goodwill and definite-lived intangible assets during the fourth quarter of each year. See note 6 for additional information on the results of the Company’s impairment tests.

Financial Instruments

Hasbro’s financial instruments include cash and cash equivalents, accounts receivable, short-term borrowings, accounts payable and certain accrued liabilities. As of December 31, 2023, the carrying cost of these instruments approximated their fair value. The Company’s financial instruments as of December 31, 2023 also include long-term borrowings (see note 11 for carrying cost and related fair values) as well as certain assets and liabilities measured at fair value (see notes 14 and 18).

Production Financing

Production financing relates to financing facilities for certain of the Company's television and film productions. Production financing facilities are arranged on an individual production basis by either special purpose production subsidiaries, each secured by the assets and future revenues of such production subsidiaries, which are non-recourse to the Company's assets, or through a senior revolving credit facility obtained in November 2021, dedicated to production financing. These facilities typically have maturities of less than two years while the titles are in production, and are repaid once the production is delivered and all tax credits, broadcaster pre-sales and international sales have been received. In connection with the production of a television or film program, the Company records initial cash outflows within cash flows from operating activities due to its investment in the production and concurrently records cash inflows within cash flows from financing activities from the production financing it normally obtains. Under these facilities, certain of the Company's cash is restricted while the financing is outstanding. All of the Company's individual production loan and the senior revolving credit facility dedicated to production financing were assumed by Lionsgate effective upon the closing of the sale of the eOne Film and TV business in the fourth quarter of 2023. For further details, see notes 3 and 11.

Revenue Recognition

Revenue is recognized when control of the promised goods, 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. Revenues from sales of finished products to customers accounted for 75%, 76% and 74% of the Company’s revenues for the fiscal years ended 2023, 2022 and 2021, respectively. When determining whether control of the finished products has transferred to the customer, the Company considers any future performance obligations. Generally, the Company has no post-shipment obligation on sales of finished products to customers and revenues from product sales are recognized upon passing of title to the customer, which is generally at the time of shipment. Any shipping and handling activities that are performed by the Company, whether before or after a customer has obtained control of the products, are considered activities to fulfill our obligation to transfer the products, and are recorded as incurred within selling, distribution, and administration expenses. The Company offers various discounts, rebates, allowances, returns, and markdowns to its customers (collectively, “allowances”), all of which are considered when determining the transaction price. Certain allowances are fixed and determinable at the time of sale and are recorded at the time of sale as a reduction to revenues. Other allowances can vary depending on future outcomes such as customer sales volume (“variable consideration”). The Company estimates the amount of variable consideration using the expected value method. In estimating the amount of variable consideration using the expected value method, the Company considers various factors including but not limited to: customer terms, historical experience, any expected deviations from historical experience, and existing or expected market conditions. The Company then records an estimate of variable consideration as a reduction to revenues at the time of sale. The Company adjusts its estimate of variable consideration at least quarterly or when facts and circumstances used in the estimation process may change. Historically, adjustments to estimated variable consideration have not been material.

The Company enters into contracts to license its intellectual property, which consists of its brands, in various channels including but not limited to: consumer products such as apparel or home goods, within formats such as online and digital games, within venues such as theme parks, or within formats such as television and film. The licensees pay the Company either a sales-based or usage-based royalty, or a combination of both, for use of the brands, in some cases subject to minimum guaranteed amounts or fixed fees. The license of the Company’s brands provide access to the intellectual property over the term of the license, generally without any other performance obligation of the Company other than keeping the intellectual property active, and is therefore considered a right-to-access license of symbolic intellectual property. The Company records sales-based or usage-based royalty revenues for right-to-access licenses at the occurrence of the licensees’ subsequent sale or usage. When the arrangement includes a minimum guarantee, the Company records the minimum guarantee on a ratable basis over the term of the license period and does not record the sales-based or usage-based royalty revenues until they exceed the minimum guarantee.

The Company also produces, sells and licenses television and film content for distribution to third parties in formats that include broadcast, digital streaming, transactional and theatrical. These are intellectual property licenses where the licensees pay either a fixed fee for the content license or a variable fee in the form of a sales based royalty. The content that the Company delivers to its licensees typically has stand-alone functionality, generally without any other performance obligation of the Company, and is therefore considered a right-to-use license of functional intellectual property. The Company records revenues for right-to-use licenses once the license period has commenced and the licensee has the ability to use the delivered content. In arrangements where the licensee pays the Company a fixed fee for multiple seasons or multiple series of programming, arrangement fees are recorded as revenues based upon their relative fair values. The Company also earns advertising revenues from certain content made available on free to consumer, streaming video on demand platforms where the Company earns a portion of the advertising revenues earned by the service provider. The performance obligation is met and revenue is recorded when the user accesses the Company’s content through the streaming platform.

The Company develops and hosts digital games featuring its brands within the games, such as Magic: The Gathering Arena and D&D Beyond. The Company does not charge a fee to the end users for the download of the games or the ability to play the games. The end users make in-application purchases of virtual currencies, with such purchased virtual currencies to be used in the games. In addition, the Company offers a subscription service for D&D Beyond that provides access to a variety of added benefits, typically for a recurring monthly, semi-annual, or annual fee. The Company records revenues from in-application purchases based on either the usage patterns of the players or the player’s estimated life, depending on the nature of the game item purchased in exchange for virtual currency. For items recognized over the player's estimated life, the Company currently recognizes digital game's revenues ratably within six months of purchase, while revenue received from subscription services is

recognized ratably over the subscription term. The Company controls all aspects of the digital goods delivered to the consumer.

Costs of Sales

Cost of sales primarily consists of purchased materials, labor, tooling, manufacturing overheads and other inventory-related costs such as obsolescence.

Investment in Productions and Acquired Content Rights and Program Cost Amortization

The Company incurs costs in connection with the production of television programming and live action movies. The majority of these costs are capitalized by the Company as they are incurred and amortized using the individual-film-forecast method, whereby these costs are amortized in the proportion that the current year’s revenues bear to management’s estimate of total ultimate revenues as of the beginning of such period related to the program. Ultimate revenue estimates are periodically reviewed and adjustments, if any, will result in changes to amortization rates and estimated accruals for residuals and participations. Ultimate revenue includes estimates over a period not to exceed ten years following the date of release of the production. Ultimate revenue used in amortization of acquired content rights is estimated over the life of the acquired rights but no longer than a period of ten years. These capitalized costs are reported at the lower of cost, less accumulated amortization, or fair value, and reviewed for impairment when an event or change in circumstances occurs that indicates that impairment may exist. The fair value is determined using a discounted cash flow model which is primarily based on management’s future revenue and cost estimates. Certain of these agreements require the Company to pay minimum guaranteed advances ("MGs") for participations and residuals. MGs are recognized in the Consolidated Balance Sheets when a liability arises, usually on delivery of the television or film program to the Company. The current portion of MGs are recorded as Payables and accrued liabilities and the long-term portion are recorded as Other liabilities. Substantially all of the Company’s non-Hasbro branded productions, and all of the Company's acquired content rights, were included with the eOne Film and TV business sold to Lionsgate in the fourth quarter of 2023. The Company retained all Hasbro-branded content and will continue to develop and produce animation, digital shorts, scripted TV and theatrical films for audiences related to core Hasbro IP.

Royalties

The Company enters into license agreements with strategic partners, inventors, designers and others for the use of intellectual properties in its products. In addition, the Company enters into minimum guarantee royalty arrangements related to the purchase of film and television rights for content to be delivered in the future. These agreements may call for payment in advance or future payment of minimum guaranteed amounts. Amounts paid in advance are recorded as an asset and charged to expense when the related revenue is recognized in the Consolidated Statements of Operations. If all or a portion of the minimum guaranteed amounts appear not to be recoverable through future use of the rights obtained under the license, the non-recoverable portion of the guaranty is charged to expense at that time.

Advertising

Production costs of commercials are expensed in the fiscal year during which the production is first aired. The costs of other advertising and promotion programs are expensed in the fiscal year incurred.

Shipping and Handling

Hasbro expenses costs related to the shipment and handling of goods to customers as incurred. For 2023, 2022 and 2021, these costs were $225.6 million, $247.7 million and $264.1 million, respectively, and are included in selling, distribution and administration expenses.

Operating Leases

The Company leases certain property, vehicles and other equipment through operating leases. Operating lease right-of-use assets are recorded within Property, Plant and Equipment and the related liabilities recorded within Accrued liabilities and Other liabilities on the Company’s Consolidated Balance Sheets. The Company has no material finance leases.

Operating lease assets represent the Company’s right to use the underlying asset for the lease term and lease liabilities represent an obligation to make lease payments according to the terms of the lease. Operating lease assets and liabilities are recognized at the inception of the lease agreement based on the estimated present value

of lease payments over the lease term, using our incremental borrowing rate based on information available on the lease commencement date. The Company capitalizes non-lease components for equipment leases, but expenses non-lease components as incurred for real estate leases. Leases with an expected term of 12 months or less are not capitalized. Lease expense under such leases is recorded straight line over the life of the lease. For further details on the Company's operating leases, see note 17.

Income Taxes

Hasbro uses the asset and liability approach for financial accounting and reporting of income taxes. Deferred income taxes reflect the net tax effect of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Deferred taxes are measured using rates expected to apply to taxable income in years in which those temporary differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.

The Company recognizes deferred tax assets to the extent it believes that these assets are more likely than not to be realized. In making such a determination, all available positive and negative evidence is considered, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. The assumptions utilized in determining future taxable income require significant judgment and are consistent with the plans and estimates used to manage the underlying businesses. Actual operating results in future years could differ from current assumptions, judgments and estimates. However, the Company believes that it is more likely than not that most of the deferred tax assets recorded on our Consolidated Balance Sheets will ultimately be realized. A valuation allowance is recorded to reduce deferred tax assets to the net amount believed to be more likely than not to be realized. As of December 31, 2023, the Company recorded a valuation allowance of $432.0 million primarily related to the U.S. capital loss resulting from the sale of the Company’s eOne Film and TV business during the year. If it is determined that our deferred tax assets will be realizable in the future in excess of their net recorded amount, an adjustment would be made to the deferred tax asset valuation allowance, which would reduce the provision for income taxes.

The Company uses a two-step process for the measurement of uncertain tax positions that have been taken or are expected to be taken in a tax return. The first step is a determination of whether the tax position should be recognized in the consolidated financial statements. The second step determines the measurement of the tax position. The Company records potential interest and penalties on uncertain tax positions as a component of Income tax expense.

Foreign Currency Translation

Foreign currency assets and liabilities are translated into U.S. dollars at period-end exchange rates, and revenues, costs and expenses are translated at weighted average exchange rates during each reporting period. Net earnings include gains or losses resulting from foreign currency transactions and, when required, translation gains and losses resulting from the use of the U.S. dollar as the functional currency in highly inflationary economies. Other gains and losses resulting from translation of financial statements are a component of Other comprehensive earnings (loss).

Pension Plans, Postretirement and Postemployment Benefits

Pension expense and related amounts in the Consolidated Balance Sheets are based on actuarial computations of current and future benefits. Actual results that differ from the actuarial assumptions are accumulated and, if outside a certain corridor, amortized over future periods and, therefore affect recognized expense in future periods. The corridor used for this purpose is equal to 10% of the greater of plan liabilities or market asset values, and future periods vary by plan, but generally equal the actuarially determined average expected future working lifetime of active plan participants. The Company’s policy is to fund amounts which are required by applicable regulations and which are tax deductible. The estimated amounts of future payments to be made under other retirement programs are being accrued currently over the period of active employment and are also included in pension expense. Hasbro has a contributory postretirement health and life insurance plan covering substantially all employees who retired under any of its United States defined benefit pension plans prior to January 1, 2020, and meet certain age and length of service requirements. During the fourth quarter of 2019, with the approval of the Compensation Committee of the Company's Board of Directors, the Company announced the elimination of the contributory post-retirement health and life insurance coverage for employees whose retirement eligibility begins after December 31, 2019. See note 16 for further discussion.

The cost of providing these benefits on behalf of employees who retired prior to 1993 has been substantially borne by the Company.

The cost of providing benefits on behalf of eligible employees who retire after 1992 is borne by the employee. The Company also has several plans covering certain groups of employees, which may provide benefits to such employees following their period of employment but prior to their retirement. The Company measures the costs of these obligations based on actuarial computations.

Stock-Based Compensation

The Company has a stock-based employee compensation plan for employees and non-employee members of the Company’s Board of Directors. Under this plan the Company may grant stock options at or above the fair market value of the Company’s stock, as well as restricted stock, restricted stock units and contingent stock performance awards. All awards are measured at fair value at the date of the grant and amortized as expense on a straight-line basis over the requisite service period of the award. For awards contingent upon Company performance, the measurement of the expense for these awards is based on the Company’s current estimate of its performance over the performance period. See note 15 for further discussion.

Dividend Equivalent Units

Beginning with employee stock incentive awards granted in 2022, the payment of cash dividends to shareholders also results in the crediting of Dividend Equivalent Units (“DEUs”) to holders of restricted stock units ("RSUs") and contingent stock performance awards ("PSUs") granted under the Company's Restated 2003 Stock Incentive Plan, as amended, for employees as defined and described in note 15. The DEUs are credited as additional RSUs or PSUs and settled concurrently with the vesting of associated awards. DEUs are forfeited in the event the underlying RSUs or PSU's do not vest. The dividend equivalent value of forfeitable DEUs is treated as a reduction of retained earnings or, if the Company is in a retained deficit position, as a reduction of additional paid-in capital.

Risk Management Contracts

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 purchases of inventory, product sales, as well as other cross-border currency requirements not denominated in the functional currency of the business unit, are primarily denominated in United States, Canadian and Hong Kong dollars as well as Euros and British pound sterling. 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 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.

At the inception of the contracts, Hasbro designates its derivatives as either cash flow or fair value hedges. The Company formally documents all relationships between hedging instruments and hedged items as well as its risk management objectives and strategies for undertaking various hedge transactions. All hedges designated as cash flow hedges are linked to forecasted transactions and the Company assesses, both at the inception of the

hedge and on an on-going basis, the effectiveness of the derivatives used in hedging transactions in offsetting changes in the cash flows of the forecasted transaction.

The Company records all derivatives, such as foreign currency exchange contracts, on the Consolidated Balance Sheets at fair value. Changes in the derivative fair values that are designated as cash flow hedges are deferred and recorded as a component of Accumulated other comprehensive loss (“AOCE”) until the hedged transactions occur and are then recognized in the Consolidated Statements of Operations. The Company’s foreign currency contracts hedging anticipated cash flows are designated as cash flow hedges. When it is determined that a derivative is not highly effective as a hedge, the Company discontinues hedge accounting prospectively. Any gain or loss deferred through that date remains in AOCE until the forecasted transaction occurs, at which time it is reclassified to the Consolidated Statements of Operations. To the extent the transaction is no longer deemed probable of occurring, hedge accounting treatment is discontinued and amounts deferred would be reclassified to the Consolidated Statements of Operations. In the event hedge accounting requirements are not met, gains and losses on such instruments are included in the Consolidated Statements of Operations. The Company uses derivatives to economically hedge intercompany loans denominated in foreign currencies. The Company does not use hedge accounting for these contracts as changes in the fair value of these contracts are substantially offset by changes in the fair value of the intercompany loans.

Prior to the issuance of certain long-term Notes due 2021 and 2044, the Company entered into a forward-starting interest rate swap contract to hedge the anticipated U.S. Treasury interest rates on the anticipated debt issuance. These instruments, which were designated and effective as hedges, were terminated on the date of the related debt issuance and the then fair value of these instruments was recorded to AOCE and amortized through the Consolidated Statements of Operations using an effective interest rate method over the life of the related debt.

Net Earnings Per Common Share

Basic net earnings per share is computed by dividing net earnings by the weighted average number of shares outstanding for the year as well as awards that have not been issued but all contingencies have been met. Diluted net earnings per share is similar except that the weighted average number of shares outstanding is increased by dilutive securities, and net earnings are adjusted, if necessary, for certain amounts related to dilutive securities. Dilutive securities include shares issuable upon exercise of stock options for which the market price exceeds the exercise price, less shares which could have been purchased by the Company with the related proceeds. Dilutive securities also include shares issuable under restricted stock unit award agreements. Options and restricted stock unit awards totaling 2.5 million, 2.7 million and 2.2 million for 2023, 2022, and 2021, respectively, were excluded from the calculation of diluted earnings per share because to include them would have been antidilutive. Of the fiscal 2023 amount, 1.6 million shares would have been included in the calculation of diluted shares had the Company not had a net loss for the year ended December 31, 2023. Assuming that these awards and options were included, under the treasury stock method, they would have resulted in an additional 0.2 million shares being included in the diluted earnings per share calculation for the year ended December 31, 2023.

A reconciliation of net earnings and average number of shares for each of the three fiscal years ended December 31, 2023 is as follows:


	2023			2022		2021
(In millions, except per share data)	Basic		Diluted	Basic	Diluted	Basic	Diluted
Net earnings (loss) attributable to Hasbro, Inc.	$	(1,489.3)	(1,489.3)	203.5	203.5	428.7	428.7
Average shares outstanding	138.8		138.8	138.7	138.7	138.0	138.0
Effect of dilutive securities:
Options and other share-based awards	—		—	—	0.2	—	0.4
Equivalent shares	138.8		138.8	138.7	138.9	138.0	138.4
Net earnings (loss) per share attributable to Hasbro, Inc.	$	(10.73)	(10.73)	1.47	1.46	3.11	3.10

Property, Plant and Equipment - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 127.7	$ 127.3	$ 163.3

Equity Method Investment	12 Months Ended
Equity Method Investment	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investment	Equity Method Investment The Company owns an interest in a joint venture, Discovery Family Channel (the “Network”), with Warner Bros. Discovery, Inc. ("Discovery"). The Company has determined that it does not meet the control requirements to consolidate the Network and accounts for the investment using the equity method of accounting. The Network was established to create a cable television network in the United States dedicated to high-quality children’s and family entertainment. In October 2009, the Company purchased an initial 50% share in the Network for a payment of $300.0 million and certain future tax payments based on the value of certain tax benefits expected to be received by the Company. On September 23, 2014, the Company and Discovery amended their relationship with respect to the Network and Discovery increased its equity interest in the Network to 60% while the Company retained a 40% equity interest in the Network. As of December 31, 2023 and December 25, 2022, the Company’s investment in the Network totaled $102.0 million and $120.8 million, respectively. During the Fourth quarter of 2023, the Company reviewed its investment in the Network for impairment. Due to decreases in forecasted revenues, the Company concluded that the fair value of the Company's interest in the joint venture was less than its carrying value. As a result, the Company recorded an impairment loss of $1.3 million in Other expense (income), net in the Consolidated Statements of Operations for the year ended December 31, 2023. The Company utilized the discounted cash flow method under the income approach to estimate the fair value of the Network, which requires assumptions and estimates that include: future annual cash flows, income tax rates, discount rates, estimated growth rates, and other market factors. Accelerating changes in the cable distribution industry, including technological changes and expanding options for digital content offerings, has resulted in the fragmentation of viewership, declines in subscribers to the traditional cable bundle, and pricing pressure. These factors led to the lower valuation of the Network as compared to its carrying value. During the fourth quarter of 2022 the Company reviewed its investment with Discovery for impairment and determined that the fair value of the Company's interest in the joint venture exceeded its carrying value, and as such, concluded that there was no impairment in its investment in the Network at that time. The Company’s share in the earnings of the Network for the years ended December 31, 2023, December 25, 2022 and December 26, 2021 totaled $10.9 million, $8.1 million and $20.8 million, respectively, and is included as a component of Other expense (income), net in the Consolidated Statements of Operations. The Company also enters into certain other transactions with the Network. During 2023, 2022 and 2021, these transactions were not material. In connection with the September 23, 2014 amendment, the Company and Discovery entered into an option agreement to acquire the Company’s remaining 40% ownership in the Network, exercisable during the one-year period following December 31, 2021. During 2022 the Company and Discovery further amended the agreement by extending the option exercise window through March 2025. As of December 31, 2023, the Company had not exercised the option to acquire the remaining ownership in the Network. The exercise price of the option agreement is based upon 80% of the then fair market value of the Network, subject to a fair market value floor. At December 31, 2023 and December 25, 2022, the fair market value of this option was $1.7 million and was included as a component of Other liabilities. There were no material changes to the option's value in 2023 or 2022. The Company also has a related liability due to Discovery under the existing tax sharing agreement. The balance of the associated liability, including imputed interest, was $9.0 million and $14.4 million at December 31, 2023 and December 25, 2022, respectively, and is included as a component of Other liabilities in the accompanying Consolidated Balance Sheets. During 2022 the Company recognized income of $0.7 million related to this liability due to changes in the Company's 2021 income tax rate that resulted in adjustments to future payments owed to the Network. There were no such adjustments made during 2023. During 2023, 2022 and 2021, the Company made payments to Discovery under this tax sharing agreement in the amount of $5.7 million, $5.4 million and $5.3 million, respectively. See note 20 for more information on estimated future payments in relation to the Company's Discovery tax sharing agreement.

Pension, Postretirement and Postemployment Benefits - Assumptions used to determine year-end Pension and Postretirement Benefit Obligation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022
Pension
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Weighted average discount rate	5.23%	5.61%
Postretirement
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Weighted average discount rate	5.20%	5.58%
Health care cost trend rate assumed for next year	6.75%	7.00%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate)	5.00%	5.00%

Segment Reporting

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment Reporting

Segment and Geographic Information

Hasbro is a toy and game 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 out-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.

Segment performance is measured at the operating profit level. Included in Corporate and Other are certain corporate expenses, including the elimination of intersegment transactions and certain assets benefiting more than one segment. Intersegment sales and transfers are reflected in management reports at amounts approximating cost. Certain shared costs, including global development and marketing expenses and corporate administration, are allocated to segments based upon expenses and foreign exchange rates fixed at the beginning of the year, with

adjustments to actual expenses and foreign exchange rates included in Corporate and Other. The accounting policies of the segments are the same as those referenced in note 1.

Results shown for fiscal years 2023, 2022 and 2021 are not necessarily those which would be achieved if each segment was an unaffiliated business enterprise.

Information by segment and a reconciliation to reported amounts are as follows:


(In millions)	Revenues from External Customers		Affiliate Revenue	Depreciation and Amortization	Capital Additions	Total Assets
2023
Consumer Products (a)	$	2,886.4	279.9	130.0	60.0	6,456.2
Wizards of the Coast and Digital Gaming	1,457.6		183.6	27.8	122.5	4,340.5
Entertainment (a)(b)	659.3		51.8	28.5	0.4	3,507.7
Corporate and Other (b)	—		(515.3)	24.4	26.4	(7,763.5)
Consolidated Total	$	5,003.3	—	210.7	209.3	6,540.9
2022
Consumer Products (a)	$	3,572.5	396.7	152.5	87.0	5,757.7
Wizards of the Coast and Digital Gaming	1,325.1		172.5	14.6	52.5	2,968.7
Entertainment (a)(b)	959.1		57.5	43.8	6.9	6,273.3
Corporate and Other (b)	—		(626.7)	21.6	27.8	(5,703.8)
Consolidated Total	$	5,856.7	—	232.5	174.2	9,295.9
2021
Consumer Products	$	3,981.6	465.4	112.4	73.1	4,925.5
Wizards of the Coast and Digital Gaming	1,286.6		121.6	48.5	35.1	1,585.1
Entertainment (b)	1,152.2		61.5	96.6	6.2	6,052.8
Corporate and Other (b)	—		(648.5)	22.6	18.3	(2,525.6)
Consolidated Total	$	6,420.4	—	280.1	132.7	10,037.8


(In millions)	2023		2022	2021
Operating profit (loss)
Consumer Products	$	(64.7)	217.3	401.4
Wizards of the Coast and Digital Gaming	525.7		538.3	547.0
Entertainment (b)	(1,911.5)		22.7	(91.8)
Corporate and Other (b)(c)	(88.3)		(370.6)	(93.3)
Operating profit (loss)	(1,538.8)		407.7	763.3
Interest expense	186.3		171.0	179.7
Interest income	(23.0)		(11.8)	(5.4)
Other non-operating expense (income)	7.0		(13.0)	7.1
Earnings (loss) before income taxes	$	(1,709.1)	261.5	581.9

The following table represents consolidated Consumer Products segment net revenues by major geographic region for the three fiscal years ended December 31, 2023.


(In millions)	2023		2022	2021
North America	$	1,649.1	2,064.8	2,315.9
Europe	669.5		899.5	1,067.7
Asia Pacific	256.3		293.4	310.1
Latin America	311.5		314.8	287.9
Net revenues	$	2,886.4	3,572.5	3,981.6

The following table represents consolidated Wizards of the Coast and Digital Gaming segment net revenues by category for the three fiscal years ended December 31, 2023:


(In millions)	2023		2022	2021
Tabletop Gaming	$	1,072.5	1,067.0	950.6
Digital and Licensed Gaming	385.1		258.1	336.0
Net revenues	$	1,457.6	1,325.1	1,286.6

The following table represents consolidated Entertainment segment net revenues by category for the three fiscal years ended December 31, 2023.


(In millions)	2023		2022	2021
Film and TV	$	575.5	837.6	932.5
Family Brands	83.8		79.4	132.9
Music and Other	—		42.1	86.8
Net revenues	$	659.3	959.1	1,152.2

The following table presents consolidated net revenues by brand portfolio for the three fiscal years ended December 31, 2023.


(In millions)	2023		2022	2021
Franchise Brands	$	3,256.5	3,350.8	3,541.9
Partner Brands	687.8		1,052.0	1,161.0
Portfolio Brands	521.3		625.2	719.8

Non-Hasbro Branded Film & TV	537.7		828.7	997.7
Net revenues	$	5,003.3	5,856.7	6,420.4


(In millions)	2023		2022	2021
Net revenues
United States	$	3,010.1	3,544.2	3,898.9
International	1,993.2		2,312.5	2,521.5
	$	5,003.3	5,856.7	6,420.4
Long-lived assets
United States	$	1,153.7	1,042.3	1,359.6
International	2,201.6		3,665.3	3,653.0
	$	3,355.3	4,707.6	5,012.6

Principal international markets include Europe, Canada, Mexico and Latin America, Australia, China and Hong Kong. Long-lived assets include property, plant and equipment, goodwill and other intangibles.

Other Information

Hasbro markets its tangible products primarily to customers in the retail sector. Although the Company closely monitors the creditworthiness of its customers, adjusting credit policies and limits as deemed appropriate, a substantial portion of its customers’ ability to discharge amounts owed is generally dependent upon the overall retail economic environment.

In 2023 and 2022 the Company’s largest customers were Walmart, Inc. and Amazon.com, Inc. with sales to each of these customers amounting to 11% of consolidated net revenues in 2023 and 11% and 10%, respectively, of consolidated net revenues during 2022. In 2021 sales to these customers amounted to 13% and 11%, respectively, of consolidated net revenues. Net revenues from the Company’s major customers are reported within the Consumer Products segment, Wizards of the Coast & Digital Gaming segment and the Entertainment segment.

Hasbro purchases certain components used in its manufacturing process and certain finished products from manufacturers in the Far East. The Company’s reliance on external sources of manufacturing can be shifted, over a period of time, to alternative sources of supply for products it sells, should such changes be necessary. However, if the Company were prevented from obtaining products from a substantial number of its current Far East suppliers due to political, labor or other factors beyond its control, the Company’s operations would be disrupted, potentially for a significant period of time, while alternative sources of product were secured. The imposition of trade sanctions, tariffs, border adjustment taxes or other measures by the United States or the European Union against a class of products imported by Hasbro from, or the loss of “normal trade relations” status with, China, or other countries where we manufacture products, or other factors which increase the cost of manufacturing in China, or other countries where we manufacture products, such as higher labor costs or an appreciation in the Chinese Yuan, could significantly disrupt our operations and/or significantly increase the cost of the products which are manufactured and imported into other markets.

The Company has agreements which allow it to develop and market products based on properties owned by third parties including its license with Marvel Entertainment, LLC and Marvel Characters B.V. (together “Marvel”) and its license with Lucas Licensing Ltd. and Lucasfilm Ltd. (together “Lucas”). These licenses have multi-year terms and provide the Company with the right to market and sell designated classes of products based on Marvel’s portfolio of brands, including SPIDER-MAN and THE AVENGERS, and Lucas’s STAR WARS brand. Both Marvel and Lucas are owned by The Walt Disney Company.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Long-Term Debt - Future Contractual Maturities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 25, 2022
Debt Instrument [Line Items]
Long-term borrowings	$ 3,484.9	$ 3,848.1
Debt Instruments Excluding Production Financing Facilities
Debt Instrument [Line Items]
2024	500.0
2025	0.0
2026	675.0
2027	500.0
2028	109.9
2029 and thereafter	$ 1,700.0

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482900/835-30-50-1

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(f))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69C
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69C

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69F
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69F

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Contract Assets and Liabilities

The change in the carrying amount of contract assets and liabilities for the year ended December 31, 2023 is as follows:


(In millions)	December 31, 2023
Assets
Balance at beginning of the year	$	594.4
Recognized in current year	478.6
Amounts reclassified (1)	(474.2)
Assets disposed (2)	(402.3)
Foreign currency impact	16.8
Ending Balance	$	213.3

Liabilities
Balance at beginning of the year	$	113.0
Recognized in current year	460.1
Amounts in beginning balance reclassified to revenue	(89.9)
Current year amounts reclassified to revenue	(224.3)
Liabilities disposed (1)	(25.8)
Foreign currency impact	(2.3)
Ending Balance	$	230.8

(1) These amounts are primarily related to balances reclassified to Accounts receivable.

(2) See note 3 for additional information on the sale of the eOne film and TV business.

Income Taxes - Income Taxes Attributable to Earnings Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Current
United States	$ (29.0)	$ 85.9	$ 52.3
State and local	(6.4)	18.0	15.4
International	57.6	84.7	50.1
Current income tax expense (benefit)	22.2	188.6	117.8
Deferred
United States	(36.3)	(105.7)	7.1
State and local	(3.0)	(16.6)	(0.3)
International	(204.2)	(7.8)	22.0
Deferred income tax expense (benefit)	(243.5)	(130.1)	28.8
Total income (benefit) taxes	$ (221.3)	$ 58.5	$ 146.6

Derivative Financial Instruments - Statements of Financial Performance and Financial Position (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 25, 2022
Derivative [Line Items]
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current	Accrued Liabilities, Current
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
Designated as hedging instrument \| Prepaid expenses and other current assets
Derivative [Line Items]
Unrealized gains	$ 0.5	$ 4.3
Unrealized losses	(0.1)	(1.8)
Net unrealized gain (loss)	0.4	2.5
Designated as hedging instrument \| Other assets
Derivative [Line Items]
Unrealized gains	0.0	0.3
Unrealized losses	0.0	0.0
Net unrealized gain (loss)	0.0	0.3
Designated as hedging instrument \| Accrued liabilities
Derivative [Line Items]
Unrealized gains	0.7	1.6
Unrealized losses	(3.5)	(4.4)
Net unrealized gain (loss)	$ (2.8)	$ (2.8)

Derivative Financial Instruments - Fair Value of Undesignated Derivate Financial Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 25, 2022
Not designated as hedging instrument
Derivative [Line Items]
Net unrealized gain (loss)	$ (0.8)	$ 5.0
Not designated as hedging instrument \| Prepaid expenses and other current assets
Derivative [Line Items]
Unrealized gains	0.3	10.9
Unrealized losses	0.0	(5.9)
Not designated as hedging instrument \| Accrued liabilities
Derivative [Line Items]
Unrealized gains	1.4	0.0
Unrealized losses	(2.5)	0.0
Designated as hedging instrument \| Prepaid expenses and other current assets
Derivative [Line Items]
Unrealized gains	0.5	4.3
Unrealized losses	(0.1)	(1.8)
Net unrealized gain (loss)	0.4	2.5
Designated as hedging instrument \| Prepaid expenses and other current assets \| Foreign exchange forward
Derivative [Line Items]
Net unrealized gain (loss)	0.3	5.0
Designated as hedging instrument \| Accrued liabilities
Derivative [Line Items]
Unrealized gains	0.7	1.6
Unrealized losses	(3.5)	(4.4)
Net unrealized gain (loss)	(2.8)	(2.8)
Designated as hedging instrument \| Accrued liabilities \| Foreign exchange forward
Derivative [Line Items]
Net unrealized gain (loss)	$ (1.1)	$ 0.0

Accrued Liabilities

12 Months Ended

Dec. 31, 2023

Accrued Liabilities, Current [Abstract]

Accrued Liabilities

Components of accrued liabilities for the fiscal years ended on December 31, 2023 and December 25, 2022 are as follows:


(In millions)	2023		2022
Royalties	$	286.8	195.4
Cancellation charges	118.9		89.2
Deferred revenue	101.6		111.3
Dividends	97.2		96.7
Payroll and management incentives	85.6		66.7
Severance	83.7		100.3
Other taxes	68.7		82.1
Accrued income taxes	61.6		44.8
General vendor accruals	51.9		44.3
Advertising	45.0		53.2
Participations and residuals	34.0		300.2
Current lease liability	30.5		39.6
Interest	29.9		31.0
Defined contribution plans	29.7		30.0
Freight	22.9		28.5
Insurance	13.3		11.0
Professional fees	12.4		13.6
Accrued expenses IIC & IIP	0.7		80.8
Other	41.4		88.1
Total accrued liabilities	$	1,215.8	1,506.8

Restructuring Actions

12 Months Ended

Dec. 31, 2023

Restructuring Charges [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 December 31, 2023, the Company had a remaining balance of $2.5 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 $2.6 million in fiscal 2023. Substantially all of the remaining cash payments related to these programs are expected to be made by the end of 2024.

During 2022, in support of Blueprint 2.0, Hasbro announced an Operational Excellence program ("the Program"), an ongoing enterprise-wide initiative intended to improve our business through specialized organizational programs that include targeted cost-savings, supply chain transformation and certain other restructuring actions designed to drive growth and enhance shareholder value. In January 2023, in connection the Program we announced the elimination of approximately 1,000 positions from our global workforce, or approximately 15% of global full-time employees. In December 2023, following a further review of the Company’s cost structure and organizational design, the Company announced additional strategic steps to position the business for future growth, including a revised organizational structure as well as additional headcount reductions. The Company’s organizational structure changes will result in the reallocation of people and resources, which will include voluntary early retirement for certain groups of employees and additional involuntary reductions in employees (“Additional Actions”). The Company currently anticipates that approximately 900 incremental positions will be eliminated as part of the Additional Actions, which are expected to be substantially completed over the next 18 to 24 months.

Charges related to the Program were recorded in Selling, distribution and administration expense within Corporate and Other. These actions are expected to be substantially complete by the end of 2024. 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.

(In millions)

Total

Operational Excellence:

Balance at December 25, 2022

84.9

2023 charges

38.2

2023 payments

(41.9)

Balance at December 31, 2023

81.2

(In millions)

Total

Operational Excellence:

Charges incurred to date

132.3

Estimated charges to be incurred on approved initiatives

—

Total expected charges on approved initiatives

132.3

Restructuring Actions - Schedule of Restructuring and Related Costs (Details) - Operational Excellence Program $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 84.9
2023 charges	38.2
2023 payments	(41.9)
Ending balance	$ 81.2

Capital Stock (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended	12 Months Ended
	Dec. 25, 2022	Dec. 31, 2023	Dec. 25, 2022	May 31, 2018
Equity [Abstract]
Stock repurchase program, authorized amount		$ 4,300.0		$ 500.0
Stock Repurchased During Period (in shares)	1,400,000	0
Purchases of common stock	$ 125.0		$ 125.0
Stock repurchased during the period, (in dollars per share)	$ 87.46
Stock repurchase program, remaining authorized repurchase amount		$ 241.6

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Segment Reporting - Geographic Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	$ 5,003.3	$ 5,856.7	$ 6,420.4
Long-lived assets	3,355.3	4,707.6	5,012.6
UNITED STATES \| Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	3,010.1	3,544.2	3,898.9
Long-lived assets	1,153.7	1,042.3	1,359.6
International \| Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	1,993.2	2,312.5	2,521.5
Long-lived assets	$ 2,201.6	$ 3,665.3	$ 3,653.0

- Definition

+ References

+ Details

Goodwill and Intangible Assets - Schedule of Other Intangibles (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 25, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Acquired product rights	$ 1,763.8	$ 2,112.1
Licensed rights of entertainment properties	45.0	45.0
Impairment	(116.0)	(281.0)
Accumulated amortization	(1,181.0)	(1,137.2)
Amortizable intangible assets	511.8	738.9
Product rights with indefinite lives	75.7	75.7
Total other intangibles assets, net	$ 587.5	$ 814.6

Stock Options, Other Stock Awards and Warrants

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Stock Options, Other Stock Awards and Warrants

The Company has reserved 8.7 million shares of its common stock for issuance upon exercise of options and other awards granted or to be granted under stock incentive plans for employees and for non-employee members of

the Board of Directors (collectively, the “plans”). These awards generally vest and are expensed in equal annual amounts over three to five years. The plans provide that options be granted at exercise prices not less than the market value of the underlying common stock on the date the option is granted and options and share awards are adjusted for such changes as stock splits and stock dividends. Options are exercisable for periods of no more than seven years after date of grant. Upon exercise in the case of stock options, grant in the case of restricted stock or vesting in the case of performance based contingent stock and restricted stock unit grants, shares are issued out of available treasury shares. The Company’s current plan permits the granting of awards in the form of stock, stock appreciation rights, stock awards and cash awards in addition to stock options.

Total compensation expense related to stock options, restricted stock units, including those awards made to non-employee members of its Board of Directors, and stock performance awards for the years ended December 31, 2023, December 25, 2022 and December 26, 2021 was $71.9 million, $81.3 million and $97.8 million, respectively, and was recorded as follows:


(In millions)	2023		2022	2021

Product development	$	7.0	4.8	3.7
Selling, distribution and administration	64.9		76.5	94.1
Total stock compensation expense before income taxes	71.9		81.3	97.8
Income tax benefit	9.2		9.0	10.2
Total stock compensation expense after income taxes	$	62.7	72.3	87.6

The following table represents total stock compensation expense, net of performance adjustments, by award type related to stock performance awards, restricted stock units, stock options and awards made to non-employee members of the Company’s Board of Directors, for the years ended December 31, 2023, December 25, 2022 and December 26, 2021:


(In millions)	2023		2022	2021
Stock performance awards	$	15.8	9.6	26.9
Restricted stock units	47.8		60.7	50.9
Stock options	7.0		8.9	18.4
Non-employee awards	1.3		2.1	1.6
Total stock compensation expense before income taxes	71.9		81.3	97.8
Income tax benefit	9.2		9.0	10.2
Total compensation expense after income taxes	$	62.7	72.3	87.6

Stock Performance Awards

In 2023, 2022 and 2021, as part of its annual equity grant to executive officers and certain other employees, the Company issued contingent stock performance awards (the “Stock Performance Awards”). These awards provide the recipients with the ability to earn shares of the Company’s common stock based on the Company’s achievement of stated cumulative operating performance targets over the three fiscal years ended December 2025, December 2024, and December 2023 for the 2023, 2022 and 2021 awards, respectively. The 2021 and 2022 Stock Performance Awards are measured based on achieving targets set for diluted earnings per share, revenue and return on invested capital ("ROIC"). The 2023 Stock Performance Awards are measured based on achieving targets set for diluted earnings per share and ROIC, in addition to a relative Total Shareholder Return ("TSR") modifier ranking as compared to the S&P 500, to determine the number of shares earned at the end of the performance period. The ultimate amount of the award may vary from 0% to 200% of the target number of shares, depending on the cumulative results achieved.

Information with respect to Stock Performance Awards for 2023, 2022 and 2021 is as follows:


(In millions, except per share data)	2023		2022	2021
Outstanding at beginning of year	0.8		0.7	0.6
Granted	0.7		0.4	0.2
Forfeited	(0.2)		(0.1)	—
Canceled	(0.1)		—	(0.1)
Vested	(0.2)		(0.2)	—
Outstanding at end of year	1.0		0.8	0.7
Weighted average grant-date fair value:
Granted	$	56.00	88.77	96.06
Forfeited	$	74.06	80.77	—
Canceled	$	56.49	—	77.33
Vested	$	56.49	86.90	—
Outstanding at end of year	$	70.15	78.15	75.74

Shares canceled in 2023 and 2021 represent Stock Performance Awards granted during 2020 and 2019, respectively, that were canceled based on the failure to meet the targets set forth by the agreements.

Stock Performance Awards are valued at the market value of the underlying common stock at the dates of grant and are expensed over the performance period. On a periodic basis, the Company reviews the actual and forecasted performance of the Company against the stated targets for each award. The total expense is adjusted upward or downward based on the expected number of shares to be issued as defined in the respective stock performance award agreement. If minimum targets as detailed under the award are not met, no additional compensation expense will be recognized and any previously recognized compensation expense will be reversed. During 2023, 2022 and 2021, the Company recognized expense, net of performance adjustments, of $15.8 million, $9.6 million and $26.9 million, respectively, relating to Stock Performance Awards. The expense recognized in 2021 included $7.6 million of additional stock expense associated with the contractual acceleration of outstanding performance share awards upon the passing of the Company's former CEO. As of December 31, 2023, the amount of total unrecognized compensation cost related to these awards is approximately $34.0 million and the weighted average period over which this will be expensed is 23 months.

Restricted Stock Units

The Company, as part of its annual equity grant to executive officers and certain other employees, issues restricted stock or grants restricted stock units. These shares or units are nontransferable and subject to forfeiture for periods prescribed by the Company. These awards are valued at the market value of the underlying common stock at the date of grant and are subsequently amortized over the periods during which the restrictions lapse, generally three years. During 2023, 2022 and 2021, the Company recognized compensation expense, net of forfeitures, on these awards of $47.8 million, $60.7 million and $50.9 million, respectively. The expense recognized in 2021 included $6.0 million of additional stock expense associated with the contractual acceleration of outstanding restricted stock awards upon the passing of the Company's former CEO. As of December 31, 2023, the amount of total unrecognized compensation cost related to restricted stock units is $67.1 million and the weighted average period over which this will be expensed is 23 months.

Information with respect to the remaining Restricted Stock Awards and Restricted Stock Units for 2023, 2022 and 2021 is as follows:


(In millions, except per share data)	2023		2022	2021
Outstanding at beginning of year	1.2		1.1	1.0
Granted	1.2		0.7	0.7
Forfeited	(0.2)		(0.1)	(0.1)
Vested	(0.6)		(0.5)	(0.5)
Outstanding at end of year	1.6		1.2	1.1
Weighted average grant-date fair value:
Granted	$	56.80	86.41	91.06
Forfeited	$	74.22	91.18	85.88
Vested	$	90.32	91.33	91.42
Outstanding at end of year	$	66.08	88.85	91.78

Stock Options

Information with respect to stock options for each of the three fiscal years ended December 31, 2023 is as follows:


(In millions, except per share data)	2023		2022	2021
Outstanding at beginning of year	1.8		2.9	2.8
Granted	1.4		0.6	0.6
Exercised	—		(0.8)	(0.5)
Expired or forfeited	(0.9)		(0.9)	—
Outstanding at end of year	2.3		1.8	2.9
Exercisable at end of year	0.9		0.8	2.1
Weighted average exercise price:
Granted	$	55.92	94.89	90.31
Exercised	$	—	85.60	65.12
Expired or forfeited	$	81.22	97.16	95.59
Outstanding at end of year	$	75.24	93.62	92.15
Exercisable at end of year	$	93.96	92.95	92.05

With respect to the 2.3 million outstanding options and 0.9 million options exercisable at December 31, 2023, the weighted average remaining contractual life of these options was 4.86 years and 3.07 years, respectively, all of which have no intrinsic value.

The Company uses the Black-Scholes valuation model in determining the fair value of stock options. The expected life of the options used in this calculation is the period of time the options are expected to be outstanding

and has been determined based on historical exercise experience. The weighted average fair value of options granted in fiscal 2023, 2022 and 2021 was $12.73, $22.10 and $21.30, respectively. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions used for grants in the fiscal years 2023, 2022 and 2021:


	2023		2022		2021
Risk-free interest rate	4.44	%	1.79	%	0.50	%
Expected dividend yield	4.95	%	2.95	%	3.01	%
Expected volatility	38	%	37	%	38	%
Expected option life	3 years		4 years		4 years

The intrinsic values, which represent the difference between the fair market value on the date of exercise and the exercise price of the option, for the options exercised in fiscal 2022 and 2021 were $13.6 million and $16.0 million, respectively. No options were exercised during fiscal 2023.

As of December 31, 2023, the amount of total unrecognized compensation cost related to stock options was $14.1 million and the weighted average period over which this will be expensed is 23 months.

Non-Employee Awards

In 2023, 2022 and 2021, the Company granted 28,000, 24,000 and 17,000 shares of common stock, respectively, to its non-employee members of its Board of Directors. Of these shares, the receipt of 14,000 shares from the 2023 grant, 12,000 shares from the 2022 grant and 10,000 shares from the 2021 grant has been deferred to the date upon which the respective director ceases to be a member of the Company’s Board of Directors. These awards were valued at the market value of the underlying common stock at the date of grant and vested upon grant. In connection with these grants, compensation cost of $1.3 million, $2.1 million and $1.6 million was recorded in Selling, distribution and administration expense for the fiscal years ended 2023, 2022 and 2021, respectively.

Long-Term Debt - Narrative (Details) - USD ($)	1 Months Ended		12 Months Ended
Long-Term Debt - Narrative (Details) - USD ($)	Nov. 30, 2019	Sep. 29, 2019	Dec. 31, 2023	Dec. 25, 2022	Sep. 30, 2019
Debt Instrument [Line Items]
Production financing loans, net			$ 0	$ 195,600,000
Current portion of long-term debt			$ 500,000,000.0	113,200,000
Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount	$ 2,400,000,000
Debt issuance costs, gross	$ 20,000,000
Redemption price	100.00%
Senior Notes \| Minimum
Debt Instrument [Line Items]
Debt instrument term	5 years
Debt instrument, interest rate	0.25%
Senior Notes \| Maximum
Debt Instrument [Line Items]
Debt instrument term	10 years
Debt instrument, interest rate	2.00%
2.60% Notes Due 2022 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount	$ 300,000,000
Debt stated interest rate	2.60%
3.00% Notes Due 2024
Debt Instrument [Line Items]
Debt stated interest rate			3.00%
3.00% Notes Due 2024 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount	$ 500,000,000
Debt stated interest rate	3.00%
3.00% Notes Due 2024 \| Senior Notes \| US Treasury (UST) Interest Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.25%
3.55% Notes Due 2026
Debt Instrument [Line Items]
Debt stated interest rate			3.55%
3.55% Notes Due 2026 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount	$ 675,000,000
Debt stated interest rate	3.55%
3.55% Notes Due 2026 \| Senior Notes \| US Treasury (UST) Interest Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.30%
3.90% Notes Due 2029
Debt Instrument [Line Items]
Debt stated interest rate			3.90%
3.90% Notes Due 2029 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount	$ 900,000,000
Debt stated interest rate	3.90%
3.90% Notes Due 2029 \| Senior Notes \| US Treasury (UST) Interest Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.35%
$1.0 Billion Term Loan Agreement \| Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, face amount					$ 1,000,000,000
Three-Year Term Loan Facility \| Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, face amount					400,000,000
Debt instrument term		3 years
Repayments of debt			$ 400,000,000
Five-Year Term Loan Facility \| Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, face amount					$ 600,000,000
Debt instrument term		5 years
Repayments of unsecured debt, principal			60,000,000	50,000,000
Repayments of debt			$ 250,000,000	$ 37,500,000
5.10% Notes Due 2044
Debt Instrument [Line Items]
Debt stated interest rate			5.10%
Production Financing Facilitie
Debt Instrument [Line Items]
Debt instrument term			2 years

Investments in Productions and Investments in Acquired Content Rights

12 Months Ended

Dec. 31, 2023

Other Industries [Abstract]

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 film basis and any portion of the unamortized amount that appears not to be recoverable from future net revenues is expensed as part of program cost amortization during the period the loss becomes evident.

Programming costs are included in Other assets and consist of the following at December 31, 2023 and December 25, 2022:


(In millions)	2023 (1)		2022
Investment in Films and Television Programs:
Individual monetization
Released, net of amortization	$	74.7	584.5
Completed and not released	5.1		23.3
In production	27.1		199.4
Pre-production	10.4		41.3
	117.3		848.5
Film/TV group monetization
Released, net of amortization	26.0		25.8

In production	23.6		22.2

	49.6		48.0
Investment in other programming:
Released, net of amortization	16.1		9.8

In production	0.8		11.8
Pre-production	0.8		3.3
	17.7		24.9

Total program investments	$	184.6	921.4

The Company recorded $448.9 million of program cost amortization related to released programming during 2023, consisting of the following:


(In millions)	Investment in Production		Investment in Content	Total
Program cost amortization	$	400.7	48.2	448.9


(In millions)	2024		2025	2026
Estimated Future Amortization Expense:
Individual monetization
Released	$	10.1	11.6	6.4


Film/TV group monetization

Released	15.4		16.7	25.2

Total	$	25.5	28.3	31.6

In the normal course of its business, the Company also enters into contracts related to obtaining right of first refusal ("first look deals") to purchase, distribute, or license certain entertainment projects or content. See note 20 for more information on the Company's expected future payments for first look deals.

Stock Options, Other Stock Awards and Warrants - Activities of Stock Performance Awards and Restricted Stock Units (Details) - $ / shares shares in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Stock performance awards
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding at beginning of year (in shares)	0.8	0.7	0.6
Granted (in shares)	0.7	0.4	0.2
Forfeited (in shares)	(0.2)	(0.1)	0.0
Canceled (in shares)	(0.1)	0.0	(0.1)
Vested (in shares)	(0.2)	(0.2)	0.0
Outstanding at end of year (in shares)	1.0	0.8	0.7
Weighted average grant-date fair value:
Granted (in dollars per share)	$ 56.00	$ 88.77	$ 96.06
Forfeited (in dollars per share)	74.06	80.77	0
Canceled (in dollars per share)	56.49	0	77.33
Vested (in dollars per share)	56.49	86.90	0
Outstanding at end of year (in dollars per share)	$ 70.15	$ 78.15	$ 75.74
Restricted stock units (RSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding at beginning of year (in shares)	1.2	1.1	1.0
Granted (in shares)	1.2	0.7	0.7
Forfeited (in shares)	(0.2)	(0.1)	(0.1)
Vested (in shares)	(0.6)	(0.5)	(0.5)
Outstanding at end of year (in shares)	1.6	1.2	1.1
Weighted average grant-date fair value:
Granted (in dollars per share)	$ 56.80	$ 86.41	$ 91.06
Forfeited (in dollars per share)	74.22	91.18	85.88
Vested (in dollars per share)	90.32	91.33	91.42
Outstanding at end of year (in dollars per share)	$ 66.08	$ 88.85	$ 91.78

Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Accrued Liabilities, Current [Abstract]

Schedule of Accrued Liabilities

Components of accrued liabilities for the fiscal years ended on December 31, 2023 and December 25, 2022 are as follows:


(In millions)	2023		2022
Royalties	$	286.8	195.4
Cancellation charges	118.9		89.2
Deferred revenue	101.6		111.3
Dividends	97.2		96.7
Payroll and management incentives	85.6		66.7
Severance	83.7		100.3
Other taxes	68.7		82.1
Accrued income taxes	61.6		44.8
General vendor accruals	51.9		44.3
Advertising	45.0		53.2
Participations and residuals	34.0		300.2
Current lease liability	30.5		39.6
Interest	29.9		31.0
Defined contribution plans	29.7		30.0
Freight	22.9		28.5
Insurance	13.3		11.0
Professional fees	12.4		13.6
Accrued expenses IIC & IIP	0.7		80.8
Other	41.4		88.1
Total accrued liabilities	$	1,215.8	1,506.8

Consolidated Statements of Comprehensive Earnings - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ (1,487.8)	$ 203.0	$ 435.3
Other comprehensive earnings (loss):
Foreign currency translation adjustments, net of tax	59.4	(45.4)	(61.9)
Unrealized holding losses on available-for-sale securities, net of tax	0.0	(0.3)	(0.1)
Net (losses) gains on cash flow hedging activities, net of tax	(8.6)	10.2	13.5
Changes in unrecognized pension amounts, net of tax	(0.9)	30.8	3.4
Reclassifications to earnings, net of tax:
Net losses (gains) on cash flow hedging activities	3.8	(16.2)	2.6
Amortization of unrecognized pension and postretirement amounts	(0.3)	1.3	2.2
Other comprehensive earnings (loss), net of tax	53.4	(19.6)	(40.3)
Total comprehensive earnings (loss), net of tax	(1,434.4)	183.4	395.0
Total comprehensive earnings (loss) attributable to noncontrolling interests	1.5	(0.5)	6.6
Total comprehensive earnings (loss) attributable to Hasbro, Inc.	$ (1,435.9)	$ 183.9	$ 388.4

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Income Statement [Abstract]
Net revenues	$ 5,003,300,000	$ 5,856,700,000	$ 6,420,400,000
Costs and expenses:
Cost of sales	1,706,000,000	1,911,800,000	1,927,500,000
Program cost amortization	448,900,000	555,500,000	628,600,000
Royalties	428,300,000	493,000,000.0	620,400,000
Product development	306,900,000	307,900,000	315,700,000
Advertising	358,400,000	387,300,000	506,600,000
Amortization of intangible assets	83,000,000.0	105,300,000	116,800,000
Selling, distribution and administration	1,480,400,000	1,666,100,000	1,432,700,000
Impairment of goodwill	1,191,200,000	0	0
Loss on disposal of business	539,000,000.0	22,100,000	108,800,000
Total costs and expenses	6,542,100,000	5,449,000,000	5,657,100,000
Operating profit (loss)	(1,538,800,000)	407,700,000	763,300,000
Non-operating expense (income):
Interest expense	186,300,000	171,000,000.0	179,700,000
Investment Income, Interest	(23,000,000.0)	(11,800,000)	(5,400,000)
Other expense (income), net	7,000,000.0	(13,000,000.0)	7,100,000
Total non-operating expense, net	170,300,000	146,200,000	181,400,000
Total earnings (loss) before income taxes	(1,709,100,000)	261,500,000	581,900,000
Income tax (benefit) expense	(221,300,000)	58,500,000	146,600,000
Net earnings (loss)	(1,487,800,000)	203,000,000.0	435,300,000
Net earnings (loss) attributable to noncontrolling interests	1,500,000	(500,000)	6,600,000
Net earnings (loss) attributable to Hasbro, Inc.	$ (1,489,300,000)	$ 203,500,000	$ 428,700,000
Net earnings (loss) attributable to Hasbro, Inc.
Basic (in dollars per share)	$ (10.73)	$ 1.47	$ 3.11
Diluted (in dollars per share)	(10.73)	1.46	3.10
Cash dividends declared (in dollars per share)	$ 2.80	$ 2.80	$ 2.72

Summary of Significant Accounting Policies - Schedule of Earnings per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Basic
Net earnings attributable to Hasbro, Inc., basic	$ (1,489.3)	$ 203.5	$ 428.7
Average shares outstanding, basic (in shares)	138.8	138.7	138.0
Net earnings attributable to Hasbro, Inc. (in dollars per share)	$ (10.73)	$ 1.47	$ 3.11
Diluted
Net earnings attributable to Hasbro, Inc., diluted	$ (1,489.3)	$ 203.5	$ 428.7
Effect of dilutive securities:
Average shares outstanding, basic (in shares)	138.8	138.7	138.0
Options and other share-based awards (in shares)	0.0	0.2	0.4
Equivalent shares, diluted (in shares)	138.8	138.9	138.4
Net earnings attributable to Hasbro, Inc. (in dollars per share)	$ (10.73)	$ 1.46	$ 3.10

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2023	Dec. 25, 2022
Current assets
Cash and cash equivalents, including restricted cash of $0.6 in 2023 and $14.5 in 2022	$ 545.4	$ 513.1
Accounts receivable, less allowance for credit losses of $12.7 in 2023 and $20.0 in 2022	1,029.3	1,132.4
Inventories	332.0	676.8
Prepaid expenses and other current assets	416.9	676.8
Total current assets	2,323.6	2,999.1
Property, plant and equipment, net	488.6	422.8
Other assets
Goodwill	2,279.2	3,470.1
Other intangibles, net	587.5	814.6
Other	862.0	1,589.3
Total other assets	3,728.7	5,874.0
Total assets	6,540.9	9,295.9
Current liabilities
Short-term borrowings	0.0	142.4
Current portion of long-term debt	500.0	113.2
Accounts payable	340.6	427.3
Accrued liabilities	1,215.8	1,506.8
Total current liabilities	2,056.4	2,189.7
Long-term debt	2,965.8	3,711.2
Other liabilities	431.7	533.1
Total liabilities	5,453.9	6,434.0
Shareholders’ equity
Preference stock of $2.50 par value. Authorized 5,000,000 shares; none issued	0.0	0.0
Common stock of $0.50 par value. Authorized 600,000,000 shares; issued 220,286,736 shares as of 2023 and 2022	110.1	110.1
Additional paid-in capital	2,590.6	2,540.6
Retained earnings	2,188.4	4,071.4
Accumulated other comprehensive loss	(201.5)	(254.9)
Treasury stock, at cost, 81,498,181 shares in 2023 and 82,106,383 shares in 2022	(3,625.7)	(3,634.4)
Noncontrolling interests	25.1	29.1
Total shareholders’ equity	1,087.0	2,861.9
Total liabilities, noncontrolling interests and shareholders’ equity	$ 6,540.9	$ 9,295.9

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment


(In millions)	2023		2022
Land and improvements	$	3.5	3.1
Buildings and improvements	225.9		221.1
Machinery, equipment and software	706.7		672.4
	936.1		896.6
Less accumulated depreciation	618.9		654.5
	317.2		242.1
Tools, dies and molds, net of accumulated depreciation	44.7		62.4
	361.9		304.5
Right of use assets	208.4		239.6
Less accumulated depreciation	81.7		121.3
Total property, plant and equipment, net	$	488.6	422.8

Expenditures for maintenance and repairs which do not materially extend the life of the assets are charged to operations as incurred. In 2023, 2022 and 2021 the Company recorded $127.7 million, $127.3 million and $163.3 million, respectively, of depreciation expense.

See note 17 for additional discussion on right of use assets.

Capital Stock	12 Months Ended
Capital Stock	Dec. 31, 2023
Equity [Abstract]
Capital Stock	Capital Stock The Company has a long history of increasing shareholder value through its share repurchase program. Purchases of the Company’s common stock may be made from time to time, subject to market conditions, and may be made in the open market or through privately negotiated transactions. The Company has no obligation to repurchase shares under the authorization and the time, actual number, and the value of the shares which are repurchased will depend on a number of factors, including the price of the Company’s common stock. As part of this initiative, since 2005, the Company's Board of Directors adopted numerous share repurchase authorizations with a cumulative authorized repurchase amount of $4.3 billion. The most recent authorization for the repurchase of up to $500.0 million in common stock was approved in May 2018. As a result of the financing activities related to the eOne acquisition, the Company suspended its share repurchase program to prioritize deleveraging, and did not repurchase any shares during 2021. In April 2022, given the Company's progress towards reducing debt, the Company resumed its share repurchase activity and repurchased approximately 1.4 million shares at a total cost of $125.0 million and at an average price of $87.46 per share. In 2023, the Company has been focused on increasing strategic investment in its most valuable and profitable franchises, while exiting certain non-core businesses, and as such, no shares were repurchased. As of December 31, 2023, $241.6 million remained under the current authorization.

Goodwill and Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Sep. 25, 2022	Dec. 31, 2023	Dec. 25, 2022
Goodwill [Roll Forward]
Beginning goodwill		$ 3,470.1	$ 3,419.6
Acquired during the period			64.7
Impairment during the period	$ (11.8)	(1,191.2)	(11.8)
Foreign exchange translation		0.3	(2.4)
Ending goodwill		2,279.2	3,470.1
Consumer Products
Goodwill [Roll Forward]
Beginning goodwill		1,584.7	1,584.9
Acquired during the period			0.0
Impairment during the period		0.0	0.0
Foreign exchange translation		(2.4)	(0.2)
Ending goodwill		1,582.3	1,584.7
Wizards of the Coast and Digital Gaming
Goodwill [Roll Forward]
Beginning goodwill		371.5	307.3
Acquired during the period			64.7
Impairment during the period		0.0	0.0
Foreign exchange translation		0.2	(0.5)
Ending goodwill		371.7	371.5
Entertainment
Goodwill [Roll Forward]
Beginning goodwill		1,513.9	1,527.4
Acquired during the period			0.0
Impairment during the period		(1,191.2)	(11.8)
Foreign exchange translation		2.5	(1.7)
Ending goodwill		$ 325.2	$ 1,513.9

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Segment Reporting - Net Revenues by Brand Portfolio (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Revenue from External Customer [Line Items]
Net revenues	$ 5,003.3	$ 5,856.7	$ 6,420.4
Franchise Brands
Revenue from External Customer [Line Items]
Net revenues	3,256.5	3,350.8	3,541.9
Partner Brands
Revenue from External Customer [Line Items]
Net revenues	687.8	1,052.0	1,161.0
Portfolio Brands
Revenue from External Customer [Line Items]
Net revenues	521.3	625.2	719.8
Non-Hasbro Branded Film & TV
Revenue from External Customer [Line Items]
Net revenues	537.7	828.7	997.7
Total Gaming
Revenue from External Customer [Line Items]
Net revenues	2,074.4	1,997.5	2,098.9
MAGIC: THE GATHERING
Revenue from External Customer [Line Items]
Net revenues	$ 1,085.8	$ 1,065.2	$ 992.1

- Definition

+ References

+ Details

Derivative Financial Instruments - Narrative (Details) - Fair value hedging - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Foreign currency forward contract \| Not designated as hedging instrument
Derivative [Line Items]
Notional Amount	$ 340.5	$ 765.6
Foreign exchange forward
Derivative [Line Items]
Other (income) expense	$ 23.4	$ 42.1	$ 4.6

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2023	Feb. 13, 2024	Jul. 02, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
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
Trading Symbol	HAS
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 8,933,575,963
Entity Common Stock, Shares Outstanding		138,791,480
Documents Incorporated by Reference	Portions of our definitive proxy statement for our 2024 Annual Meeting of Shareholders are incorporated by reference into Part III of this Report.
Entity Central Index Key	0000046080
Document Transition Report	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Lessee, Lease, Description [Line Items]
Rent expense	$ 88.2	$ 93.9	$ 89.5
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	15 years

Other Comprehensive Earnings (Loss) - Gains (Losses) on Derivative Instruments (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 28, 2021	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021	Dec. 28, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Deferred losses		$ 201,500,000	$ 254,900,000
Deferred losses reclassified from AOCE to net earnings		186,300,000	171,000,000.0	$ 179,700,000
Cash flow hedge loss to be reclassified within twelve months		$ 2,000,000
3.15% Notes Due 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Debt stated interest rate					3.15%
Repayments of debt	$ 300,000,000
5.10% Notes Due 2044
Accumulated Other Comprehensive Income (Loss) [Line Items]
Debt stated interest rate		5.10%
Foreign exchange forward \| Gains (Losses) on Derivative Instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Deferred losses		$ 2,500,000
Interest rate contract \| Gains (Losses) on Derivative Instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Deferred losses		14,200,000
Interest rate contract \| Gains (Losses) on Derivative Instruments \| Reclassification out of accumulated other comprehensive income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Deferred losses reclassified from AOCE to net earnings		$ 700,000	$ 700,000	$ 1,000,000

Goodwill and Intangible Assets - Schedule of Expected Amortization Expense (Details) $ in Millions	Dec. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 68.1
2025	65.5
2026	57.6
2027	57.6
2028	$ 57.5

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Earnings (Loss) Before Income Taxes, Determined by Tax Jurisdiction

The components of Earnings (loss) before income taxes, determined by tax jurisdiction, are as follows:


(In millions)	2023		2022	2021
United States	$	(356.9)	17.0	236.8
International	(1,352.2)		244.5	345.1
Total earnings (loss) before income taxes	$	(1,709.1)	261.5	581.9

Schedule of Income Taxes Attributable to Earnings (Loss) Before Income Taxes

Income taxes attributable to Earnings (loss) before income taxes are:


(In millions)	2023		2022	2021
Current
United States	$	(29.0)	85.9	52.3
State and local	(6.4)		18.0	15.4
International	57.6		84.7	50.1
	22.2		188.6	117.8
Deferred
United States	(36.3)		(105.7)	7.1
State and local	(3.0)		(16.6)	(0.3)
International	(204.2)		(7.8)	22.0
	(243.5)		(130.1)	28.8
Total income (benefit) taxes	$	(221.3)	58.5	146.6

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the statutory United States federal income tax rate to Hasbro’s effective income tax rate is as follows:


	2023		2022		2021
Statutory income tax rate	21.0	%	21.0	%	21.0	%
State and local income taxes, net	0.5		1.2		1.5
Tax on international earnings	6.7		(4.0)		(1.1)
Domestic tax on foreign earnings	1.3		(6.5)		(1.7)
Change in unrecognized tax benefits	(0.3)		3.1		(3.4)
U.S. capital loss	22.0		—		—
Change in valuation allowance	(23.3)		9.7		(1.6)
Share-based compensation	(0.3)		1.4		(0.6)
Research and development tax credits	0.3		(3.5)		(1.1)
Deferred tax rate change	—		—		6.5

Officers' compensation	(0.3)		1.9		1.9
Loss on disposal of business	(3.4)		1.5		3.9
Goodwill impairments	(11.8)		—		—
Other, net	0.5		(3.4)		(0.1)
	12.9	%	22.4	%	25.2	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities as of December 31, 2023 and December 25, 2022 are as follows:


(In millions)	2023		2022
Deferred tax assets:
Accounts receivable	$	31.8	28.8
Inventories	33.2		22.6
Loss and credit carryforwards	461.9		175.3
Operating leases	3.5		11.2
Operating expenses	19.1		29.9
Pension	6.9		9.1
Other compensation	46.4		50.7
Postretirement benefits	5.9		5.7
Interest rate hedge	4.8		4.5
Tax sharing agreement	0.3		0.3
Deferred revenue	0.4		4.4
Capitalized research and experimentation	100.6		81.2
Depreciation and amortization of long-lived assets	192.0		63.2
Interest expense limitation	28.7		—
Other	3.7		11.7
Gross deferred tax assets	939.2		498.6
Deferred tax liabilities:
Depreciation and amortization of long-lived assets	108.0		125.0
Equity method investment	19.0		14.9
Operating leases	1.1		9.3

Prepaid expenses	4.0		4.4
Other	22.8		15.4
Gross deferred tax liabilities	154.9		169.0
Valuation allowance	(432.0)		(189.8)
Net deferred income taxes	$	352.3	139.8

Schedule of Deferred Tax Assets and Liabilities by Balance Sheet Location

As of December 31, 2023 and December 25, 2022, the Company’s net deferred income taxes are recorded in the Consolidated Balance Sheets as follows:


(In millions)	2023		2022
Other assets	$	427.9	262.1
Other liabilities	(75.6)		(122.3)
Net deferred income taxes	$	352.3	139.8

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of unrecognized tax benefits, excluding potential interest and penalties, for the fiscal years ended 2023, 2022, and 2021 is as follows:


(In millions)	2023		2022	2021
Balance at beginning of year	$	77.8	50.6	67.8
Gross increases in prior period tax positions	11.9		0.9	0.6
Gross decrease from disposition	(10.4)		—	—
Gross decreases in prior period tax positions	(23.4)		(0.2)	(12.0)
Gross increases in current period tax positions	3.8		28.6	4.6
Decrease related to settlements with tax authorities	(8.4)		—	(2.7)
Decreases from the expiration of statute of limitations	(11.4)		(2.1)	(7.7)
Balance at end of year	$	39.9	77.8	50.6

Income Taxes - Components of Earnings Before Income Taxes Determined by Tax Jurisdiction (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Income Tax Disclosure [Abstract]
United States	$ (356.9)	$ 17.0	$ 236.8
International	(1,352.2)	244.5	345.1
Total earnings (loss) before income taxes	$ (1,709.1)	$ 261.5	$ 581.9

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 25
-Paragraph 1
-SubTopic 20
-Topic 940
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481913/940-20-25-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: 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(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Fair Value of Financial Instruments - Reconciliation of Level 3 Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 25, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of year	$ (1.7)	$ (1.7)
Balance at end of year	$ (1.7)	$ (1.7)

Schedule II Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Accounts

Schedule II-Valuation and Qualifying Accounts

Fiscal Years Ended in December

(Thousands of Dollars)



Valuation accounts deducted from assets to which they apply — for credit losses for accounts receivable:	Balance at Beginning of Year		Expense (Benefit)		Other Additions		Write-Offs and Other		Balance at End of Year
2023	$	20.0	$	4.2	$	—	$	(11.5)	$	12.7
2022	$	22.9	$	7.9	$	—	$	(10.8)	$	20.0
2021	$	33.6	$	5.3	$	—	$	(16.0)	$	22.9

Schedule II Valuation and Qualifying Accounts (Details) - Accounts receivable allowances - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 20.0	$ 22.9	$ 33.6
Expense (Benefit)	4.2	7.9	5.3
Other Additions	0.0	0.0	0.0
Write-Offs and Other	(11.5)	(10.8)	(16.0)
Balance at End of Year	$ 12.7	$ 20.0	$ 22.9

Derivative Financial Instruments - Derivative Financial Instruments (Details) - Cash flow hedging - Foreign exchange forward - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Derivative [Line Items]
Effective portion, amount of net gains (losses) reclassified from other comprehensive earnings into earnings	$ (3.1)	$ 18.7	$ (1.7)
Cost of sales
Derivative [Line Items]
Effective portion, amount of net gains (losses) reclassified from other comprehensive earnings into earnings	(1.1)	17.3	(4.7)
Sales
Derivative [Line Items]
Effective portion, amount of net gains (losses) reclassified from other comprehensive earnings into earnings	0.2	2.3	1.0
Other
Derivative [Line Items]
Effective portion, amount of net gains (losses) reclassified from other comprehensive earnings into earnings	$ (2.2)	$ (0.9)	$ 2.0

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Changes in the carrying amount of goodwill, by operating segment, for the years ended December 31, 2023 and December 25, 2022 are as follows:


(In millions)	Consumer Products		Wizards of the Coast and Digital Gaming	Entertainment	Total
2023
Balance at December 25, 2022	$	1,584.7	371.5	1,513.9	3,470.1

Impairment during the period	—		—	(1,191.2)	(1,191.2)

Foreign exchange translation	(2.4)		0.2	2.5	0.3
Balance at December 31, 2023	$	1,582.3	371.7	325.2	2,279.2
2022
Balance at December 26, 2021	$	1,584.9	307.3	1,527.4	3,419.6
Acquired during the period	—		64.7	—	64.7

Impairment during the period	—		—	(11.8)	(11.8)
Foreign exchange translation	(0.2)		(0.5)	(1.7)	(2.4)
Balance at December 25, 2022	$	1,584.7	371.5	1,513.9	3,470.1

Schedule of Finite-Lived Intangible Assets

The following table represents a summary of the Company’s other intangible assets, net at December 31, 2023 and December 25, 2022:


(In millions)	2023		2022
Acquired product rights	$	1,763.8	2,112.1
Licensed rights of entertainment properties	45.0		45.0
Impairment	(116.0)		(281.0)
Accumulated amortization	(1,181.0)		(1,137.2)
Amortizable intangible assets	511.8		738.9
Product rights with indefinite lives	75.7		75.7
Total other intangibles assets, net	$	587.5	814.6

Schedule of Indefinite-Lived Intangible Assets

The following table represents a summary of the Company’s other intangible assets, net at December 31, 2023 and December 25, 2022:


(In millions)	2023		2022
Acquired product rights	$	1,763.8	2,112.1
Licensed rights of entertainment properties	45.0		45.0
Impairment	(116.0)		(281.0)
Accumulated amortization	(1,181.0)		(1,137.2)
Amortizable intangible assets	511.8		738.9
Product rights with indefinite lives	75.7		75.7
Total other intangibles assets, net	$	587.5	814.6

Schedule of Expected Amortization Expense

The Company currently estimates amortization expense related to the above intangible assets for the next five years to be approximately:


	(In millions)
2024	$	68.1
2025	65.5
2026	57.6
2027	57.6
2028	57.5

- Definition

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

+ References

Reference 1: 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 2: 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 3: 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 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

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

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Stock Options, Other Stock Awards and Warrants (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Total Compensation Expense Related to Stock Options, Restricted Stock Units and Stock Performance Awards


(In millions)	2023		2022	2021

Product development	$	7.0	4.8	3.7
Selling, distribution and administration	64.9		76.5	94.1
Total stock compensation expense before income taxes	71.9		81.3	97.8
Income tax benefit	9.2		9.0	10.2
Total stock compensation expense after income taxes	$	62.7	72.3	87.6


(In millions)	2023		2022	2021
Stock performance awards	$	15.8	9.6	26.9
Restricted stock units	47.8		60.7	50.9
Stock options	7.0		8.9	18.4
Non-employee awards	1.3		2.1	1.6
Total stock compensation expense before income taxes	71.9		81.3	97.8
Income tax benefit	9.2		9.0	10.2
Total compensation expense after income taxes	$	62.7	72.3	87.6

Schedule of Stock Performance Awards

Information with respect to Stock Performance Awards for 2023, 2022 and 2021 is as follows:


(In millions, except per share data)	2023		2022	2021
Outstanding at beginning of year	0.8		0.7	0.6
Granted	0.7		0.4	0.2
Forfeited	(0.2)		(0.1)	—
Canceled	(0.1)		—	(0.1)
Vested	(0.2)		(0.2)	—
Outstanding at end of year	1.0		0.8	0.7
Weighted average grant-date fair value:
Granted	$	56.00	88.77	96.06
Forfeited	$	74.06	80.77	—
Canceled	$	56.49	—	77.33
Vested	$	56.49	86.90	—
Outstanding at end of year	$	70.15	78.15	75.74

Schedule of Restricted Stock Awards and Restricted Stock Units

Information with respect to the remaining Restricted Stock Awards and Restricted Stock Units for 2023, 2022 and 2021 is as follows:


(In millions, except per share data)	2023		2022	2021
Outstanding at beginning of year	1.2		1.1	1.0
Granted	1.2		0.7	0.7
Forfeited	(0.2)		(0.1)	(0.1)
Vested	(0.6)		(0.5)	(0.5)
Outstanding at end of year	1.6		1.2	1.1
Weighted average grant-date fair value:
Granted	$	56.80	86.41	91.06
Forfeited	$	74.22	91.18	85.88
Vested	$	90.32	91.33	91.42
Outstanding at end of year	$	66.08	88.85	91.78

Schedule of Stock Option Information

Information with respect to stock options for each of the three fiscal years ended December 31, 2023 is as follows:


(In millions, except per share data)	2023		2022	2021
Outstanding at beginning of year	1.8		2.9	2.8
Granted	1.4		0.6	0.6
Exercised	—		(0.8)	(0.5)
Expired or forfeited	(0.9)		(0.9)	—
Outstanding at end of year	2.3		1.8	2.9
Exercisable at end of year	0.9		0.8	2.1
Weighted average exercise price:
Granted	$	55.92	94.89	90.31
Exercised	$	—	85.60	65.12
Expired or forfeited	$	81.22	97.16	95.59
Outstanding at end of year	$	75.24	93.62	92.15
Exercisable at end of year	$	93.96	92.95	92.05

Schedule of Share-based Payment Award, Stock Option, Valuation Assumptions

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions used for grants in the fiscal years 2023, 2022 and 2021:


	2023		2022		2021
Risk-free interest rate	4.44	%	1.79	%	0.50	%
Expected dividend yield	4.95	%	2.95	%	3.01	%
Expected volatility	38	%	37	%	38	%
Expected option life	3 years		4 years		4 years

Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 25, 2022
Leases [Abstract]
2024	$ 45.2
2025	40.3
2026	33.0
2027	22.8
2028	18.2
2029 and thereafter	52.5
Total future lease payments	212.0
Less imputed interest	60.4
Present value of future operating lease payments	151.6
Current lease liability	30.5	$ 39.6
Non-current operating lease liability	121.1
Operating lease right-of-use asset, net	$ 126.7
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued Liabilities, Current	Accrued Liabilities, Current
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other Liabilities, Noncurrent
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of Redeemable Noncontrolling Interests and Non-Redeemable Noncontrolling Interests

The Company's remaining non-redeemable noncontrolling interests as of December 31, 2023 is shown below.

Name

Country of Incorporation

Ownership Interest

Proportion Held

Principal Activity

Astley Baker Davies Limited

England and Wales

Nonredeemable

70%

Ownership of intellectual property

Summary of Reconciliation of Net Earnings per Share and Average Number of Shares

A reconciliation of net earnings and average number of shares for each of the three fiscal years ended December 31, 2023 is as follows:


	2023			2022		2021
(In millions, except per share data)	Basic		Diluted	Basic	Diluted	Basic	Diluted
Net earnings (loss) attributable to Hasbro, Inc.	$	(1,489.3)	(1,489.3)	203.5	203.5	428.7	428.7
Average shares outstanding	138.8		138.8	138.7	138.7	138.0	138.0
Effect of dilutive securities:
Options and other share-based awards	—		—	—	0.2	—	0.4
Equivalent shares	138.8		138.8	138.7	138.9	138.0	138.4
Net earnings (loss) per share attributable to Hasbro, Inc.	$	(10.73)	(10.73)	1.47	1.46	3.11	3.10

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Summary of Lease Cost

Information related to the Company's leases for the years ended December 31, 2023 and December 25, 2022 is as follows:


	Year Ended			Year Ended		Year Ended
(In millions)	December 31, 2023			December 25, 2022		December 26, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	48.6		52.4		53.4
Right-of-use assets obtained in exchange for lease obligations:
Operating leases net of lease modifications	$	87.8		5.8		28.4

Weighted Average Remaining Lease Term:
Operating leases	7.1 years			4.4 years		5.6 years
Weighted Average Discount Rate:
Operating leases	3.8		%	3.4	%	3.0	%

Summary of Maturities of Operating Lease Liabilities

The following is a reconciliation of future undiscounted cash flows to the operating liabilities, and the related right of use assets, included in our Consolidated Balance Sheets as of December 31, 2023:


	Year Ended
(In millions)	December 31, 2023
2024	$	45.2
2025	40.3
2026	33.0
2027	22.8
2028	18.2
2029 and thereafter	52.5
Total future lease payments	212.0
Less imputed interest	60.4
Present value of future operating lease payments	151.6
Less current portion of operating lease liabilities (1)	30.5
Non-current operating lease liability (2)	121.1
Operating lease right-of-use assets, net (3)	$	126.7

(1) Included in Accrued liabilities on the Consolidated Balance Sheets
(2) Included in Other liabilities on the Consolidated Balance Sheets
(3) Included in Property, plant and equipment on the Consolidated Balance Sheets

Sale of Non-core Entertainment One Film and TV Business - Income Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Disposed of by Sale \| eOne Film And TV Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
eOne Film and TV loss before income taxes	$ (371.6)	$ (7.3)	$ (10.3)

Financing Arrangements	12 Months Ended
Financing Arrangements	Dec. 31, 2023
Debt Disclosure [Abstract]
Financing Arrangements	Financing Arrangements As of December 31, 2023, Hasbro had available an unsecured revolving credit agreement (see Amended Revolving Credit Agreement below) in the amount of $1.25 billion and unsecured uncommitted lines of credit from various banks approximating $95.6 million. The Company had no outstanding short-term borrowings under, or supported by, these lines of credit as of December 31, 2023. Substantially all of the Company's short-term borrowings held at the end of 2022 represented borrowings made under, or supported by, these lines of credit. The weighted average interest rate of the outstanding borrowings under the uncommitted lines of credit as of December 25, 2022 was 3.3%. The Company had no borrowings outstanding under its committed line of credit as of December 31, 2023 and December 25, 2022. During 2023 and 2022, Hasbro’s working capital needs were primarily fulfilled by cash available and cash generated from operations, and to a lesser extent, in 2023, the Company issued commercial paper as described below. During the second half of 2019, in preparation for the Company's acquisition of eOne, the Company completed the following debt and equity financings: (i) the issuance of senior unsecured Notes in an aggregate principal amount of $2.4 billion, (ii) the issuance of 10.6 million shares of common stock at a public offering price of $95.00 per share and (iii) $1.0 billion in term loans provided by a Term Loan Agreement (the “Term Loan Agreement”) entered into with Bank of America, N.A., as administrative agent, and certain financial institutions, as lenders, pursuant to which such lenders committed to provide, contingent on completion of the eOne acquisition and certain other customary conditions to funding, facilities consisting of a three-year senior unsecured term loan facility in an aggregate principal amount of $400.0 million and a five-year senior unsecured term loan facility in an aggregate principal amount of $600.0 million. On December 30, 2019, the Company completed the acquisition of eOne and on that date, borrowed the full amount of $1.0 billion under the Term Loan facilities. As of December 31, 2023, the Company has repaid the full aggregate principal amount of $400.0 million on the three-year term loan facility and the full aggregate principal amount of $600.0 million on the five-year term loan facility. See note 11 for further discussion on the Term Loan Agreement. In September 2023, the Company entered into a third amended and restated revolving credit agreement 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 Agreement"), which 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. Loans under the revolving credit facility bear interest, at the Company’s option, at either the Adjusted Term Benchmark Rate (determined in accordance with the Amended Revolving Credit Agreement), the Base Rate (determined in accordance with the Amended Revolving Credit Agreement) or the Daily Benchmark Rate (determined in accordance with the Amended Revolving Credit Agreement). In each case there is also a spread added to the rate, which fluctuates based upon the more favorable of the Company’s long-term debt ratings and the Company’s leverage. The Company is also required to pay a commitment fee in respect to the unused commitments under the facility, the rate for which is also determined based upon the more favorable of the Company's long-term debt ratings and leverage. The Amended Revolving Credit Agreement extends through September 20, 2028. The Amended Revolving Credit Agreement contains affirmative and negative covenants typical of this type of facility, including: (a) restrictions on the Company’s and its domestic subsidiaries’ ability to allow liens on their assets, (b) restrictions on the incurrence of indebtedness, (c) restrictions on the Company’s and certain of its subsidiaries’ ability to engage in certain mergers, (d) the requirement that the Company maintain a Consolidated Interest Coverage Ratio of no less than 3.00:1.00 as of the end of any fiscal quarter and (e) the requirement that the Company maintain: a Consolidated Total Leverage Ratio of no more than (1) 3.50:1.00 for the quarter ended December 31, 2023 and thereafter and on and after the sale of eOne Film and TV to Lionsgate, a Consolidated Net Total Leverage Ratio of no more than (i) 4.00:1.00 for each of the quarters ended September 30, 2023 and December 31, 2023, (ii) 3.75:1.00 for each of the first, second and fourth fiscal quarters of each year (other than 2023) and (iii) 4.00:1:00 for the third fiscal quarter of each year (other than 2023). The Company was in compliance with all covenants as of and for the year ended December 31, 2023. The Company had no borrowings outstanding under its committed revolving credit facility as of December 31, 2023. The Company also has an agreement with a group of banks providing a commercial paper program (the “Program”). Under the Program, at the Company’s request and subject to market conditions, the banks may either purchase from the Company, or arrange for the sale by the Company of, unsecured commercial paper notes. Borrowings under the Program are supported by the aforementioned unsecured committed line of credit and the Company may issue notes from time to time up to an aggregate principal amount outstanding at any given time of $1.0 billion. The maturities of the notes may vary but may not exceed 397 days. The notes are sold under customary terms in the commercial paper market and will be issued at a discount to par, or alternatively, will be sold at par and will bear varying interest rates based on a fixed or floating rate basis. The interest rates will vary based on market conditions and the ratings assigned to the notes by the credit rating agencies at the time of issuance. Subject to market conditions, the Company intends to utilize the Program as its primary short-term borrowing facility and does not intend to sell unsecured commercial paper notes in excess of the available amount under the revolving credit agreement discussed below. If, for any reason, the Company is unable to access the commercial paper market, the Company intends to use the revolving credit agreement to meet the Company's short-term liquidity needs. During the second quarter and third quarter of 2023, the Company issued and repaid intra-quarter commercial paper notes under the Program, to meet certain of its short-term liquidity needs. As of December 31, 2023 and December 25, 2022, the Company did not have any notes outstanding under the Program. During November 2021, the Company secured a senior revolving film and television production credit facility (the “RPCF”) with MUFG Union Bank, N.A., as administrative agent and lender and certain other financial institutions, as lenders thereto (the “Revolving Production Financing Agreement”) which provided the Company with commitments having a maximum aggregate principal amount of $250.0 million. The Revolving Production Financing Agreement also provided the Company with the option to request a commitment increase up to an aggregate additional amount of $150.0 million subject to agreement of the lenders. The Company used the RPCF to fund certain of the Company’s original film and TV production costs, however, the RPCF was assumed by Lionsgate effective upon the closing of the sale of the eOne Film and TV business in the fourth quarter of 2023. 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 $43.3 million, and $76.1 million as of December 31, 2023 and December 25, 2022, respectively. These obligations are presented within Accounts payable in our condensed Consolidated Balance Sheets. The activity related to this program is reflected within the operating activities section of the condensed Consolidated Statements of Cash Flows.

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Pay vs Performance Disclosure
Net earnings attributable to Hasbro, Inc.	$ (1,489.3)	$ 203.5	$ 428.7

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 13: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-10

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 24: 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)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 25: 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)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 26: 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 27: 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 28: 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 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 31: 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 32: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 34: 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 35: 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 36: 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 37: 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 38: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 39: 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//1943274/2147483589/942-220-S99-1

+ Details

Revenue Recognition - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) brand_category	Dec. 25, 2022 USD ($)	Dec. 26, 2021 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue, remaining performance obligation, amount	$ 11.7
Charge for credit losses for accounts receivable	$ 0.0	$ 0.0	$ 0.0
Number of brand categories \| brand_category	4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue, remaining performance obligation, amount	$ 6.6
Revenue, remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-12-30
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue, remaining performance obligation, amount	$ 5.1
Revenue, remaining performance obligation, period	1 year

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 50
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147477123/405-50-65-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 13
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482477/820-10-65-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482477/820-10-65-13

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-5

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-5

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (i)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (i)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 832
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483482/832-10-65-1

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 832
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483482/832-10-65-1

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479845/805-20-65-3

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479845/805-20-65-3

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479845/805-20-65-3

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479832/842-10-65-5

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479832/842-10-65-5

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479832/842-10-65-5

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479832/842-10-65-5

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-2

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(3)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(3)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 38: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 39: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 40: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 41: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 42: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 43: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 44: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 45: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 46: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 47: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 48: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 49: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 50: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 51: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 11.M.Q2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480530/250-10-S99-5

Reference 52: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 53: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 54: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 55: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 56: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 57: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 58: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 59: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 60: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 61: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 62: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 15
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480336/718-10-65-15

Reference 63: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 15
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480336/718-10-65-15

Reference 64: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 15
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480336/718-10-65-15

Reference 65: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 66: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 67: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 68: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 69: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 70: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 71: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 72: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 73: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 74: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483421/250-10-45-6

Reference 75: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 76: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 77: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 78: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 79: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 80: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 81: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 82: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 83: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 84: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 85: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 86: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 87: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 88: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 89: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 90: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

Reference 91: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

Reference 92: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480424/946-10-50-3

+ Details

Income Taxes - Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Income Tax Disclosure [Abstract]
Statutory income tax rate	21.00%	21.00%	21.00%
State and local income taxes, net	0.50%	1.20%	1.50%
Tax on international earnings	6.70%	(4.00%)	(1.10%)
Domestic tax on foreign earnings	1.30%	(6.50%)	(1.70%)
Change in unrecognized tax benefits	(0.30%)	3.10%	(3.40%)
U.S. capital loss	22.00%	0.00%	0.00%
Change in valuation allowance	(23.30%)	9.70%	(1.60%)
Share-based compensation	(0.30%)	1.40%	(0.60%)
Research and development tax credits	0.30%	(3.50%)	(1.10%)
Deferred tax rate change	0.00%	0.00%	6.50%
Officers' compensation	(0.30%)	1.90%	1.90%
Loss on disposal of business	(3.40%)	1.50%	3.90%
Goodwill impairments	(11.80%)	0.00%	0.00%
Other, net	0.50%	(3.40%)	(0.10%)
Effective income tax rate, continuing operations	12.90%	22.40%	25.20%

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill

Changes in the carrying amount of goodwill, by operating segment, for the years ended December 31, 2023 and December 25, 2022 are as follows:


(In millions)	Consumer Products		Wizards of the Coast and Digital Gaming	Entertainment	Total
2023
Balance at December 25, 2022	$	1,584.7	371.5	1,513.9	3,470.1

Impairment during the period	—		—	(1,191.2)	(1,191.2)

Foreign exchange translation	(2.4)		0.2	2.5	0.3
Balance at December 31, 2023	$	1,582.3	371.7	325.2	2,279.2
2022
Balance at December 26, 2021	$	1,584.9	307.3	1,527.4	3,419.6
Acquired during the period	—		64.7	—	64.7

Impairment during the period	—		—	(11.8)	(11.8)
Foreign exchange translation	(0.2)		(0.5)	(1.7)	(2.4)
Balance at December 25, 2022	$	1,584.7	371.5	1,513.9	3,470.1

A portion of the Company’s goodwill and other intangible assets reside in the Corporate segment of the business. For purposes of the goodwill impairment testing, these assets are allocated to the reporting units within the Company’s operating segments.

The Company performs an annual impairment assessment on goodwill. This annual impairment assessment is performed in the fourth quarter of the Company’s fiscal year. In addition, if an event occurs or circumstances change that indicate that the carrying value may not be recoverable, the Company will perform an interim impairment test at that time.

During the second quarter of 2023, the Company determined that a triggering event occurred following a downward revision of the Company's financial forecast for its Film and TV business. As a result, the Company performed a quantitative impairment test and determined that the Film and TV reporting unit within the Company's Entertainment segment was impaired. During the second quarter of 2023, the Company recorded a pre-tax non-

cash impairment charge of $231.2 million as the carrying value of the Film and TV reporting unit exceeded its expected fair value, as determined using a discounted cash flow model which is primarily based on management’s future revenue and cost estimates. This impairment charge was recorded within Impairment of goodwill, within the Consolidated Statement of Operations, and within the Entertainment segment for the year ended December 31, 2023.

During the fourth quarter of 2023, the Company determined that a triggering event occurred following declines in the Company's financial forecast for the Family Brands reporting unit. The downward forecast revision reflects a lower profitability forecast for the PJ MASKS franchise as described below, and a change in outlook for the Company's owned and operated production efforts that shifted the Entertainment strategy to an asset lite and partner led model. As a result, the Company performed a quantitative goodwill impairment test of the Family Brands reporting unit and determined it was impaired as its carrying value exceeded its fair value. As such, during the fourth quarter of 2023, the Company recorded a pre-tax non-cash impairment charge of $960.0 million in Impairment of goodwill, within the Consolidated Statement of Operations, and within the Entertainment segment for the year ended December 31, 2023.

During the fourth quarter of 2023, the Company performed a qualitative goodwill assessment with respect to each of its reporting units. Based on its qualitative assessments, the Company determined, other than the goodwill impairments of the Film and TV and Family Brands reporting units described above, it is not more likely than not that the carrying values exceed the fair values for any of its reporting units. As a result, during 2023 the Company concluded it was not necessary to perform a quantitative test for impairment of goodwill for any reporting unit, other than Film and TV and Family Brands as described above.

During the third quarter of 2022, the Company determined to exit certain non-core businesses within the Entertainment segment. A revaluation of the effected businesses resulted in a pre-tax non-cash goodwill impairment charge of $11.8 million, recorded within Loss on disposal of business in the Consolidated Statement of Operations, and within the Entertainment segment for the year ended December 25, 2022.

During the fourth quarter of 2022 the Company performed a qualitative goodwill assessment with respect to each of its reporting units and determined that the fair values of the Company’s reporting units exceeded their carrying values. As a result of this assessment, the Company concluded that, other than the loss on disposal goodwill impairment noted above, there was no other impairment to any of its reporting units. Accordingly, no goodwill impairment was recorded as a result of the qualitative test for the year ended December 25, 2022.

In the third of quarter 2021, the Company sold eOne Music for net proceeds of $397.0 million. The Company acquired eOne Music through its acquisition of eOne in 2020. Based on the value of the net assets held by eOne Music, which included certain goodwill and intangible assets allocated to the eOne reportable segment and attributable to eOne Music, the Company recorded a pre-tax non-cash goodwill impairment charge of $108.8 million within Loss on disposal of business on the Consolidated Statements of Operations for the year ended December 26, 2021. See note 6 for details on the eOne Music goodwill impairment.

During the fourth quarter of 2021 the Company performed a quantitative goodwill assessment with respect to each of its reporting units and determined that the fair values of its reporting units exceeded their carrying values. As a result of this assessment, the Company concluded that there was no impairment to any of its reporting units. Accordingly, other than the Music goodwill impairment loss noted above, there was no goodwill impairment recorded for the year ended December 26, 2021.

Other Intangible Assets, Net

The following table represents a summary of the Company’s other intangible assets, net at December 31, 2023 and December 25, 2022:


(In millions)	2023		2022
Acquired product rights	$	1,763.8	2,112.1
Licensed rights of entertainment properties	45.0		45.0
Impairment	(116.0)		(281.0)
Accumulated amortization	(1,181.0)		(1,137.2)
Amortizable intangible assets	511.8		738.9
Product rights with indefinite lives	75.7		75.7
Total other intangibles assets, net	$	587.5	814.6

Certain intangible assets relating to rights obtained in the Company’s acquisition of Milton Bradley in 1984 and Tonka in 1991 are not amortized. These rights were determined to have indefinite lives and are included as product rights with indefinite lives in the table above. The Company tests these assets for impairment on an annual basis in the fourth quarter of each year or when an event occurs or circumstances change that indicate that the carrying value may not be recoverable. The Company completed its annual impairment tests of definite-lived intangible assets in the fourth quarter of 2023 and 2022, concluding that there was no impairment of these assets. The Company’s other intangible assets are amortized over their remaining useful lives, and accumulated amortization of these other intangibles is reflected in Other intangible assets, net in the accompanying Consolidated Balance Sheets.

Intangible assets are reviewed for indications of impairment whenever events or changes in circumstances indicate the carrying value may not be recoverable.

During the second quarter of 2023, in connection with the Company's quantitative goodwill impairment test of its Film and TV reporting unit described above, it was determined that there was an impairment of the Company's definite-lived intangible eOne Trademark as the Film and TV reporting unit produces content under, and is synonymous with the eOne name. As a result, a non-cash intangible asset impairment charge of $65.0 million was recorded in Selling, distribution and administration expense, within the Entertainment segment, within the Consolidated Statements of Operations for the year ended December 31, 2023.

During the fourth quarter of 2023, due to challenging retail conditions and competitive market conditions leading to a reduction in brand profitability, the Company lowered its future revenue and costs estimates associated with its PJ MASKS brand as determined using a discounted cash flow model. As a result, the Company performed a quantitative goodwill impairment test of the PJ MASKS definite-lived intangible asset and determined it was impaired as its carrying value exceeded its fair value. As such, the Company recorded a $51.0 million impairment charge, recorded in Selling, distribution and administration within the Entertainment segment for the year ended December 31, 2023.

During the fourth quarter of 2022, following the decision to cancel certain projects in conjunction with the Company's strategy shift, it was determined that there was a partial impairment of the Company's definite-lived Power Rangers intangible asset. As a result, a charge of $281.0 million was recorded during the fourth quarter of 2022 within Selling, distribution and administration in the Corporate and Other segment.

There were no other triggering events in 2023 or 2022 that would indicate the Company's intangible assets were impaired.

The Company will continue to incur amortization expense related to the use of acquired and licensed rights to produce various products. A portion of the amortization of these product rights will fluctuate depending on brand activation, related revenues during an annual period and future expectations, as well as rights reaching the end of

their useful lives. The Company currently estimates amortization expense related to the above intangible assets for the next five years to be approximately:


	(In millions)
2024	$	68.1
2025	65.5
2026	57.6
2027	57.6
2028	57.5

Financing Arrangements (Details) $ / shares in Units, shares in Millions		1 Months Ended		12 Months Ended
	Dec. 30, 2019 USD ($)	Nov. 30, 2019 USD ($) $ / shares shares	Sep. 29, 2019	Dec. 31, 2023 USD ($)	Dec. 25, 2022 USD ($)	Sep. 30, 2023 USD ($)	Nov. 30, 2021 USD ($)	Sep. 30, 2019 USD ($)
Line of Credit Facility [Line Items]
Supplier finance program, obligation amount				$ 43,300,000	$ 76,100,000
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration]				Accounts payable	Accounts payable
eOne Acquisition
Line of Credit Facility [Line Items]
Shares issued in business combination (in shares) \| shares		10.6
Offering price (in dollars per share) \| $ / shares		$ 95.00
Commercial Paper Program
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity				$ 1,000,000,000
Debt instrument term				397 days
Revolving Credit Facility \| Amended Revolving Credit Agreement
Line of Credit Facility [Line Items]
Coverage ratio						3.00
Consolidated total leverage ratio						3.50
Revolving Credit Facility \| Amended Revolving Credit Agreement \| Each of the quarters ended September 30, 2023 and December 31, 2023
Line of Credit Facility [Line Items]
Total leverage ratio						4.00
Revolving Credit Facility \| Amended Revolving Credit Agreement \| Each of the first, second and fourth fiscal quarters of each year (other than 2023)
Line of Credit Facility [Line Items]
Total leverage ratio						3.75
Revolving Credit Facility \| Amended Revolving Credit Agreement \| Third fiscal quarter of each year (other than 2023)
Line of Credit Facility [Line Items]
Total leverage ratio						4.00
Revolving Credit Facility \| Revolving Production Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity							$ 250,000,000
Potential additional incremental commitment							$ 150,000,000
Line of Credit \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, available borrowing capacity				$ 1,250,000,000
Short-term borrowings under line of credit				0
Line of credit outstanding amount				0	$ 0
Line of credit facility, maximum borrowing capacity						$ 1,250,000,000
Potential additional incremental commitment						$ 500,000,000
Line of Credit \| Unsecured Uncommitted Lines Of Credit
Line of Credit Facility [Line Items]
Line of credit facility, available borrowing capacity				95,600,000
Weighted average interest rate					3.30%
Senior Notes
Line of Credit Facility [Line Items]
Debt instrument, face amount		$ 2,400,000,000
Senior Notes \| eOne Acquisition
Line of Credit Facility [Line Items]
Debt instrument, face amount		2,400,000,000
Unsecured Debt \| $1.0 Billion Term Loan Agreement
Line of Credit Facility [Line Items]
Debt instrument, face amount								$ 1,000,000,000
Borrowing from line of credit	$ 1,000,000,000
Unsecured Debt \| $1.0 Billion Term Loan Agreement \| eOne Acquisition
Line of Credit Facility [Line Items]
Debt instrument, face amount		$ 1,000,000,000
Unsecured Debt \| Three-Year Term Loan Facility
Line of Credit Facility [Line Items]
Debt instrument, face amount								400,000,000
Repayments of debt				400,000,000
Debt instrument term			3 years
Unsecured Debt \| Five-Year Term Loan Facility
Line of Credit Facility [Line Items]
Debt instrument, face amount								$ 600,000,000
Repayments of debt				$ 250,000,000	$ 37,500,000
Debt instrument term			5 years

Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

The Company occupies offices and uses certain equipment under various operating lease arrangements. The Company has no finance leases. The leases have remaining terms of 1 to 15 years, some of which include options to extend lease terms or options to terminate current lease terms at certain times, subject to notice requirements set out in the lease agreement. Payments under certain of the lease agreements may be subject to adjustment based on a consumer price index or other inflationary indices. The lease liability for such lease agreements as of the adoption date, was based on fixed payments as of the adoption date. Any adjustments to these payments based on the related indices will be recorded to expense as incurred. Leases with an expected term of 12 months or less are not capitalized. Lease expense under such leases is recorded straight line over the life of the lease. The Company capitalizes non-lease components for equipment leases, but expenses non-lease components as incurred for real estate leases.

The rent expense under such arrangements and similar arrangements that do not qualify as leases under ASU 2016-02, net of sublease income amounted to $89.5 million, $93.9 million and $88.2 million, respectively, for each of the years ended 2023, 2022 and 2021, and was not material to the Company’s financial statements nor were expenses related to short term leases (expected term less than twelve months) or variable lease payments during those same periods.

All leases expire prior to 2039. Real estate taxes, insurance and maintenance expenses are generally obligations of the Company. Operating leases often contain renewal options. In those locations in which the Company continues to operate, management expects that, in the normal course of business, leases that expire will be renewed or replaced by leases on other properties.

Information related to the Company's leases for the years ended December 31, 2023 and December 25, 2022 is as follows:


	Year Ended			Year Ended		Year Ended
(In millions)	December 31, 2023			December 25, 2022		December 26, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	48.6		52.4		53.4
Right-of-use assets obtained in exchange for lease obligations:
Operating leases net of lease modifications	$	87.8		5.8		28.4

Weighted Average Remaining Lease Term:
Operating leases	7.1 years			4.4 years		5.6 years
Weighted Average Discount Rate:
Operating leases	3.8		%	3.4	%	3.0	%


	Year Ended
(In millions)	December 31, 2023
2024	$	45.2
2025	40.3
2026	33.0
2027	22.8
2028	18.2
2029 and thereafter	52.5
Total future lease payments	212.0
Less imputed interest	60.4
Present value of future operating lease payments	151.6
Less current portion of operating lease liabilities (1)	30.5
Non-current operating lease liability (2)	121.1
Operating lease right-of-use assets, net (3)	$	126.7

(1) Included in Accrued liabilities on the Consolidated Balance Sheets
(2) Included in Other liabilities on the Consolidated Balance Sheets
(3) Included in Property, plant and equipment on the Consolidated Balance Sheets

Sale of Non-core Entertainment One Film and TV Business - Major Classes of eOne Music Assets and Liabilities Sold (Details) - eOne Film And TV Business - Disposed of by Sale - USD ($) $ in Millions	Dec. 31, 2023	Dec. 27, 2023
Assets sold:
Cash and Cash Equivalents	$ 54.1
Accounts receivable	87.9
Inventories	2.4
Other current assets	402.6
Property, plant and equipment	54.0
Other assets	885.0
Total Assets	1,486.0	$ 1,500.0
Liabilities sold:
Short-term borrowings	100.0
Current portion of long-term debt	5.8
Accounts payable and accrued liabilities	375.9
Long-term debt	0.8
Other Liabilities	59.5
Total Liabilities	$ 542.0	$ 542.0

Derivative Financial Instruments - Cash Flow Hedging Instruments (Details) - Designated as hedging instrument - Cash flow hedging - USD ($) $ in Millions	Dec. 31, 2023	Dec. 25, 2022
Derivative [Line Items]
Notional Amount	$ 251.3	$ 382.3
Fair Value	(2.4)	0.0
Inventory purchases
Derivative [Line Items]
Notional Amount	129.9	166.3
Fair Value	(1.7)	(2.7)
Sales
Derivative [Line Items]
Notional Amount	89.7	99.2
Fair Value	(0.2)	1.2
Production financing and other
Derivative [Line Items]
Notional Amount	31.7	116.8
Fair Value	$ (0.5)	$ 1.5

Other Comprehensive Earnings (Loss) (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Schedule of Other Comprehensive Earnings (Loss), Tax Effect

The following table presents the related tax effects on changes in other comprehensive earnings (loss) for each of the three fiscal years ended December 31, 2023.


(In millions)	2023		2022	2021
Other comprehensive earnings (loss), tax effect:
Tax benefit on unrealized holding gains	$	—	0.1	—
Tax benefit (expense) on cash flow hedging activities	2.8		(1.3)	(1.0)
Tax expense on foreign currency translation amounts	—		—	(7.2)
Tax expense on changes in unrecognized pension amounts	—		(5.9)	(1.5)
Reclassifications to earnings, tax effect:
Tax (benefit) expense on cash flow hedging activities	(1.9)		1.6	(0.5)
Tax expense (benefit) on amortization of unrecognized pension and postretirement amounts reclassified to the consolidated statements of operations	0.1		(0.3)	(0.6)

Total tax effect on other comprehensive earnings (loss)	$	1.0	(5.8)	(10.8)

Schedule of Accumulated Other Comprehensive Loss

Changes in the components of accumulated other comprehensive loss, net of tax for each of the three fiscal years ended December 31, 2023 are as follows:


(In millions)	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 Earnings (Loss)
2023
Balance at December 25, 2022	$	(3.0)	(12.0)	(0.1)	(239.8)	(254.9)
Current period other comprehensive earnings (loss)	(0.3)		(8.6)	—	59.4	50.5
Reclassifications from AOCE to earnings	(0.9)		3.8	—	—	2.9
Balance at December 31, 2023	$	(4.2)	(16.8)	(0.1)	(180.4)	(201.5)
2022
Balance at December 26, 2021	$	(35.1)	(6.0)	0.2	(194.4)	(235.3)

Current period other comprehensive earnings (loss)	30.8		10.2	(0.3)	(45.4)	(4.7)
Reclassifications from AOCE to earnings	1.3		(16.2)	—	—	(14.9)
Balance at December 25, 2022	$	(3.0)	(12.0)	(0.1)	(239.8)	(254.9)
2021
Balance at December 27, 2020	$	(40.7)	(22.1)	0.3	(132.5)	(195.0)
Current period other comprehensive earnings (loss)	3.4		13.5	(0.1)	(61.9)	(45.1)
Reclassifications from AOCE to earnings	2.2		2.6	—	—	4.8
Balance at December 26, 2021	$	(35.1)	(6.0)	0.2	(194.4)	(235.3)

Pension, Postretirement and Postemployment Benefits - Summary of Changes in Projected Benefit Obligation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Pension
Change in Projected Benefit Obligation
Interest cost	$ 1.6	$ 1.1	$ 1.1
Pension \| UNITED STATES
Change in Projected Benefit Obligation
Projected benefit obligation — beginning	30.3	41.6
Interest cost	1.6	1.1
Actuarial loss (gain)	1.5	(9.3)
Benefits paid	(3.3)	(3.1)
Plan amendments	0.0	0.0
Projected benefit obligation — ending	30.1	30.3	41.6
Accumulated benefit obligation — ending	30.1	30.3
Change in Plan Assets
Fair value of plan assets — beginning	0.0	0.0
Fair value of plan assets — ending	0.0	0.0	0.0
Reconciliation of Funded Status
Projected benefit obligation	(30.1)	(30.3)	(41.6)
Fair value of plan assets	0.0	0.0	0.0
Funded status	(30.1)	(30.3)
Unrecognized prior service cost (credit)	0.0	0.0
Unrecognized net loss (earnings)	4.6	3.2
Net amount	(25.5)	(27.1)
Accrued liabilities	(3.0)	(3.0)
Other liabilities	(27.1)	(27.3)
Accumulated other comprehensive (earnings) loss	4.6	3.2
Postretirement
Change in Projected Benefit Obligation
Interest cost	1.1	0.8	0.8
Postretirement \| UNITED STATES
Change in Projected Benefit Obligation
Projected benefit obligation — beginning	19.6	28.1
Interest cost	1.1	0.8
Actuarial loss (gain)	1.1	(7.6)
Benefits paid	(1.6)	(1.7)
Plan amendments	0.0	0.0
Projected benefit obligation — ending	20.2	19.6	28.1
Accumulated benefit obligation — ending	20.2	19.6
Change in Plan Assets
Fair value of plan assets — beginning	0.0	0.0
Fair value of plan assets — ending	0.0	0.0	0.0
Reconciliation of Funded Status
Projected benefit obligation	(20.2)	(19.6)	(28.1)
Fair value of plan assets	0.0	0.0	$ 0.0
Funded status	(20.2)	(19.6)
Unrecognized prior service cost (credit)	(0.6)	(0.9)
Unrecognized net loss (earnings)	(2.6)	(3.8)
Net amount	(23.4)	(24.3)
Accrued liabilities	(1.5)	(1.5)
Other liabilities	(18.7)	(18.0)
Accumulated other comprehensive (earnings) loss	$ (3.2)	$ (4.8)

Segment Reporting - Information and Reconciliation by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Segment Reporting Information [Line Items]
Net revenues	$ 5,003.3	$ 5,856.7	$ 6,420.4
Depreciation and Amortization	210.7	232.5	280.1
Capital Additions	209.3	174.2	132.7
Total Assets	6,540.9	9,295.9	10,037.8
Nonrelated Party
Segment Reporting Information [Line Items]
Net revenues	5,003.3	5,856.7	6,420.4
Affiliated Entity
Segment Reporting Information [Line Items]
Net revenues	0.0	0.0	0.0
Corporate and Other
Segment Reporting Information [Line Items]
Depreciation and Amortization	24.4	21.6	22.6
Capital Additions	26.4	27.8	18.3
Total Assets	(7,763.5)	(5,703.8)	(2,525.6)
Corporate and Other \| Nonrelated Party
Segment Reporting Information [Line Items]
Net revenues	0.0	0.0	0.0
Corporate and Other \| Affiliated Entity
Segment Reporting Information [Line Items]
Net revenues	(515.3)	(626.7)	(648.5)
Consumer Products \| Operating Segments
Segment Reporting Information [Line Items]
Depreciation and Amortization	130.0	152.5	112.4
Capital Additions	60.0	87.0	73.1
Total Assets	6,456.2	5,757.7	4,925.5
Consumer Products \| Operating Segments \| Nonrelated Party
Segment Reporting Information [Line Items]
Net revenues	2,886.4	3,572.5	3,981.6
Consumer Products \| Operating Segments \| Affiliated Entity
Segment Reporting Information [Line Items]
Net revenues	279.9	396.7	465.4
Wizards of the Coast and Digital Gaming
Segment Reporting Information [Line Items]
Net revenues	1,457.6	1,325.1	1,286.6
Wizards of the Coast and Digital Gaming \| Operating Segments
Segment Reporting Information [Line Items]
Depreciation and Amortization	27.8	14.6	48.5
Capital Additions	122.5	52.5	35.1
Total Assets	4,340.5	2,968.7	1,585.1
Wizards of the Coast and Digital Gaming \| Operating Segments \| Nonrelated Party
Segment Reporting Information [Line Items]
Net revenues	1,457.6	1,325.1	1,286.6
Wizards of the Coast and Digital Gaming \| Operating Segments \| Affiliated Entity
Segment Reporting Information [Line Items]
Net revenues	183.6	172.5	121.6
Entertainment
Segment Reporting Information [Line Items]
Net revenues	659.3	959.1	1,152.2
Entertainment \| Operating Segments
Segment Reporting Information [Line Items]
Depreciation and Amortization	28.5	43.8	96.6
Capital Additions	0.4	6.9	6.2
Total Assets	3,507.7	6,273.3	6,052.8
Entertainment \| Operating Segments \| Nonrelated Party
Segment Reporting Information [Line Items]
Net revenues	659.3	959.1	1,152.2
Entertainment \| Operating Segments \| Affiliated Entity
Segment Reporting Information [Line Items]
Net revenues	$ 51.8	$ 57.5	$ 61.5

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Summary of Fair Value Hierarchy

As of December 31, 2023 and December 25, 2022, 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
(In millions)	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
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
December 25, 2022
Assets:
Available-for-sale securities	$	1.7	1.7	—	—
Derivatives	7.9		—	7.9	—
Total assets	$	9.6	1.7	7.9	—
Liabilities:
Derivatives	$	2.9	—	2.9	—
Option agreement	1.7		—	—	1.7
Total liabilities	$	4.6	—	2.9	1.7

Summary of Reconciliation of Level 3 Fair Value

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


(In millions)	2023		2022
Balance at beginning of year	$	(1.7)	(1.7)

Balance at end of year	$	(1.7)	(1.7)

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Summary of Components of Property, Plant and Equipment


(In millions)	2023		2022
Land and improvements	$	3.5	3.1
Buildings and improvements	225.9		221.1
Machinery, equipment and software	706.7		672.4
	936.1		896.6
Less accumulated depreciation	618.9		654.5
	317.2		242.1
Tools, dies and molds, net of accumulated depreciation	44.7		62.4
	361.9		304.5
Right of use assets	208.4		239.6
Less accumulated depreciation	81.7		121.3
Total property, plant and equipment, net	$	488.6	422.8

Restructuring Actions - Additional Information (Details) $ in Millions	1 Months Ended		12 Months Ended
	Dec. 31, 2023 USD ($) position	Jan. 31, 2023 position	Dec. 31, 2023 USD ($)	Dec. 25, 2022 USD ($)
2018 and 2020 Restructuring Actions
Restructuring Cost and Reserve [Line Items]
Payments for restructuring			$ 2.6
2018 and 2020 Restructuring Actions \| Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	$ 2.5		2.5
Operational Excellence Program
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	$ 81.2		81.2	$ 84.9
Payments for restructuring			$ 41.9
Number of positions eliminated \| position		1,000
Number of positions eliminated, percent		15.00%
Number of expected positions eliminated \| position	900
Operational Excellence Program \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected positions eliminated, period	24 months
Operational Excellence Program \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected positions eliminated, period	18 months

Long-Term Debt - Long-term Debt Instruments (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 25, 2022
Debt Instrument [Line Items]
Carrying Cost	$ 3,484.9	$ 3,848.1
Less: Deferred debt expenses	19.1	23.7
Current portion of long-term debt	500.0	113.2
Long-term debt	2,965.8	3,711.2
Fair Value	3,349.1	3,626.3
Long-term debt, fair value	$ 3,349.1	3,626.3
3.90% Notes Due 2029
Debt Instrument [Line Items]
Debt stated interest rate	3.90%
Carrying Cost	$ 900.0	900.0
Fair Value	$ 839.8	808.2
3.55% Notes Due 2026
Debt Instrument [Line Items]
Debt stated interest rate	3.55%
Carrying Cost	$ 675.0	675.0
Fair Value	$ 641.0	635.3
3.00% Notes Due 2024
Debt Instrument [Line Items]
Debt stated interest rate	3.00%
Carrying Cost	$ 500.0	500.0
Fair Value	$ 488.4	482.2
6.35% Notes Due 2040
Debt Instrument [Line Items]
Debt stated interest rate	6.35%
Carrying Cost	$ 500.0	500.0
Fair Value	$ 520.1	498.4
3.50% Notes Due 2027
Debt Instrument [Line Items]
Debt stated interest rate	3.50%
Carrying Cost	$ 500.0	500.0
Fair Value	$ 472.2	465.8
5.10% Notes Due 2044
Debt Instrument [Line Items]
Debt stated interest rate	5.10%
Carrying Cost	$ 300.0	300.0
Fair Value	$ 271.6	261.1
6.60% Debentures Due 2028
Debt Instrument [Line Items]
Debt stated interest rate	6.60%
Carrying Cost	$ 109.9	109.9
Fair Value	116.0	112.1
Variable % Notes Due December 30, 2024
Debt Instrument [Line Items]
Carrying Cost	0.0	310.0
Fair Value	0.0	310.0
Repayments of debt	250.0
Production Financing Facilitie
Debt Instrument [Line Items]
Carrying Cost	0.0	53.2
Fair Value	$ 0.0	$ 53.2

Income Taxes - Deferred Tax Assets and Liabilities by Balance Sheet Location (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 25, 2022
Income Tax Disclosure [Abstract]
Other assets	$ 427.9	$ 262.1
Other liabilities	(75.6)	(122.3)
Net deferred income taxes	$ 352.3	$ 139.8

Commitments and Contingencies (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 25, 2022
Other Commitments [Line Items]
Unused open letters of credit and related instruments	$ 13.3	$ 11.9
Interest payment obligation in 2024	145.9
Interest payment obligation in 2025	130.9
Interest payment obligation in 2026	130.9
Interest payment obligation in 2027	104.0
Interest payment obligation in 2028	87.0
Interest payment obligation, thereafter	632.1
Purchase commitments	157.3
Royalties
Other Commitments [Line Items]
Purchase obligation to be paid in 2024	108.6
Purchase obligation to be paid in 2025	103.5
Purchase obligation to be paid in 2026	73.2
Purchase obligation to be paid in 2027	34.0
Purchase obligation to be paid in 2028	5.0
Purchase obligation to be paid, thereafter	5.0
Prepaid royalties	19.0
Entertainment Projects or Content Agreements
Other Commitments [Line Items]
Purchase obligation to be paid in 2024	3.9
Purchase obligation to be paid in 2025	1.5
Tax sharing agreement
Other Commitments [Line Items]
Tax sharing agreements, future payments	9.9
Tax sharing agreements, annual payment, minimum	0.4
Tax sharing agreements, annual payment, maximum	$ 6.4

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended					12 Months Ended
	Dec. 31, 2023	Jul. 02, 2023	Dec. 25, 2022	Sep. 25, 2022	Sep. 26, 2021	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Finite-Lived Intangible Assets [Line Items]
Pre-tax non-cash goodwill impairment charges				$ 11,800,000		$ 1,191,200,000	$ 11,800,000
Goodwill impairment	$ 960,000,000	$ 231,200,000	$ 0			1,191,200,000	0	$ 0
Proceeds from sale of business, net of cash transferred						$ 329,600,000	$ 0	378,500,000
Impairment of intangible assets, finite-lived	$ 51,000,000	$ 65,000,000	$ 281,000,000
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration]			Selling, distribution and administration
Disposed of by Sale \| eOne Music
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment								$ 108,800,000
Proceeds from sale of business, net of cash transferred					$ 397,000,000

Other Comprehensive Earnings (Loss)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Other Comprehensive Earnings (Loss)

Components of Other comprehensive earnings (loss) are presented within the Consolidated Statements of Comprehensive Earnings. The following table presents the related tax effects on changes in other comprehensive earnings (loss) for each of the three fiscal years ended December 31, 2023.


(In millions)	2023		2022	2021
Other comprehensive earnings (loss), tax effect:
Tax benefit on unrealized holding gains	$	—	0.1	—
Tax benefit (expense) on cash flow hedging activities	2.8		(1.3)	(1.0)
Tax expense on foreign currency translation amounts	—		—	(7.2)
Tax expense on changes in unrecognized pension amounts	—		(5.9)	(1.5)
Reclassifications to earnings, tax effect:
Tax (benefit) expense on cash flow hedging activities	(1.9)		1.6	(0.5)
Tax expense (benefit) on amortization of unrecognized pension and postretirement amounts reclassified to the consolidated statements of operations	0.1		(0.3)	(0.6)

Total tax effect on other comprehensive earnings (loss)	$	1.0	(5.8)	(10.8)

Changes in the components of accumulated other comprehensive loss, net of tax for each of the three fiscal years ended December 31, 2023 are as follows:


(In millions)	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 Earnings (Loss)
2023
Balance at December 25, 2022	$	(3.0)	(12.0)	(0.1)	(239.8)	(254.9)
Current period other comprehensive earnings (loss)	(0.3)		(8.6)	—	59.4	50.5
Reclassifications from AOCE to earnings	(0.9)		3.8	—	—	2.9
Balance at December 31, 2023	$	(4.2)	(16.8)	(0.1)	(180.4)	(201.5)
2022
Balance at December 26, 2021	$	(35.1)	(6.0)	0.2	(194.4)	(235.3)

Current period other comprehensive earnings (loss)	30.8		10.2	(0.3)	(45.4)	(4.7)
Reclassifications from AOCE to earnings	1.3		(16.2)	—	—	(14.9)
Balance at December 25, 2022	$	(3.0)	(12.0)	(0.1)	(239.8)	(254.9)
2021
Balance at December 27, 2020	$	(40.7)	(22.1)	0.3	(132.5)	(195.0)
Current period other comprehensive earnings (loss)	3.4		13.5	(0.1)	(61.9)	(45.1)
Reclassifications from AOCE to earnings	2.2		2.6	—	—	4.8
Balance at December 26, 2021	$	(35.1)	(6.0)	0.2	(194.4)	(235.3)

Gains (Losses) on Derivative Instruments

As of December 31, 2023, the Company had remaining net deferred losses on foreign currency forward contracts, net of tax, of $2.5 million in AOCE. These instruments hedge payments related to inventory purchased in the fourth quarter of 2023 or forecasted to be purchased in 2024, intercompany expenses expected to be paid or received during 2024 and cash receipts for sales made at the end of the fourth quarter of 2023 or forecasted to be made in 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 during 2021 (See note 11), 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. As of December 31, 2023, deferred losses, net of tax, of $14.2 million related to these instruments remained in AOCE. For the years ended December 31, 2023 and December 25, 2022, losses, net of tax of $0.7 million related to these hedging instruments were reclassified from AOCE to net earnings. For the year ended December 26, 2021, losses, net of tax of $1.0 million, respectively, related to these hedging instruments were reclassified from AOCE to net earnings.

Of the net deferred losses included in AOCE as of December 31, 2023, the Company expects net losses of approximately $2.0 million to be reclassified to the Consolidated Statements of Operations within the next 12 months. However, the amount ultimately realized in earnings is dependent on the fair value of the hedging instruments on the settlement dates.

See notes 16 and 18 for additional discussion on reclassifications from AOCE to earnings.

Pension, Postretirement and Postemployment Benefits - Assumptions used to determine Net Periodic Benefit Cost of Pension Plan and Postretirement Plan (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Pension
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Weighted average discount rate	5.61%	2.91%	2.51%
Postretirement
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Weighted average discount rate	5.58%	3.03%	2.72%
Health care cost trend rate assumed for next year	7.00%	6.00%	6.25%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate)	5.00%	5.00%	5.00%

Stock Options, Other Stock Awards and Warrants - Narrative (Details) - USD ($) $ / shares in Units, shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021	Dec. 27, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, capital shares reserved for future issuance (in shares)	8,700
Options expiration period (in years)	7 years
Compensation expense (income)	$ 71,900,000	$ 81,300,000	$ 97,800,000
Stock performance awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense (income)	$ 15,800,000	$ 9,600,000	$ 26,900,000
Performance measurement period (in years)	3 years
Percentage of target number of shares, range lower limit	0.00%
Percentage of target number of shares, range upper limit	200.00%
Share-based payment arrangement, nonvested award, cost not yet recognized, amount	$ 34,000,000
Weighted average period for recognition of total unrecognized compensation expense	23 months
Granted (in shares)	700	400	200
Stock performance awards \| Former CEO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense (income)		$ 7,600,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense (income)	$ 47,800,000	60,700,000	$ 50,900,000
Share-based payment arrangement, nonvested award, cost not yet recognized, amount	$ 67,100,000
Weighted average period for recognition of total unrecognized compensation expense	23 months
Restrictions lapse period (in years)	3 years
Restricted Stock \| Former CEO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense (income)			6,000,000
Restricted stock units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense (income)	$ 47,800,000	$ 60,700,000	$ 50,900,000
Granted (in shares)	1,200	700	700
Share-based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense (income)	$ 7,000,000.0	$ 8,900,000	$ 18,400,000
Share-based payment arrangement, nonvested award, cost not yet recognized, amount	$ 14,100,000
Weighted average period for recognition of total unrecognized compensation expense	23 months
Share-based compensation arrangement by share-based payment award, options (in shares)	2,300	1,800	2,900	2,800
Exercisable (in shares)	900	800	2,100
Weighted average remaining contractual term for outstanding options	4 years 10 months 9 days	3 years 25 days
Options exercisable, intrinsic value	$ 0
Options outstanding, intrinsic value	$ 0
Share-based compensation arrangement by share-based payment award, options, grants in period (in dollars per share)	$ 12.73	$ 22.10	$ 21.30
Share-based compensation arrangement by share-based payment award, options, exercises in period, intrinsic value	$ 0	$ 13,600,000	$ 16,000,000
Share-based Payment Arrangement, Option \| Share-Based Payment Arrangement, Nonemployee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense (income)	$ 1,300,000	$ 2,100,000	$ 1,600,000
Granted (in shares)	28	24	17
Number of deferred shares (in shares)	14	12	10
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock incentive plans, vesting period	3 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock incentive plans, vesting period	5 years

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

The components of Earnings (loss) before income taxes, determined by tax jurisdiction, are as follows:


(In millions)	2023		2022	2021
United States	$	(356.9)	17.0	236.8
International	(1,352.2)		244.5	345.1
Total earnings (loss) before income taxes	$	(1,709.1)	261.5	581.9

Income taxes attributable to Earnings (loss) before income taxes are:


(In millions)	2023		2022	2021
Current
United States	$	(29.0)	85.9	52.3
State and local	(6.4)		18.0	15.4
International	57.6		84.7	50.1
	22.2		188.6	117.8
Deferred
United States	(36.3)		(105.7)	7.1
State and local	(3.0)		(16.6)	(0.3)
International	(204.2)		(7.8)	22.0
	(243.5)		(130.1)	28.8
Total income (benefit) taxes	$	(221.3)	58.5	146.6

A reconciliation of the statutory United States federal income tax rate to Hasbro’s effective income tax rate is as follows:


	2023		2022		2021
Statutory income tax rate	21.0	%	21.0	%	21.0	%
State and local income taxes, net	0.5		1.2		1.5
Tax on international earnings	6.7		(4.0)		(1.1)
Domestic tax on foreign earnings	1.3		(6.5)		(1.7)
Change in unrecognized tax benefits	(0.3)		3.1		(3.4)
U.S. capital loss	22.0		—		—
Change in valuation allowance	(23.3)		9.7		(1.6)
Share-based compensation	(0.3)		1.4		(0.6)
Research and development tax credits	0.3		(3.5)		(1.1)
Deferred tax rate change	—		—		6.5

Officers' compensation	(0.3)		1.9		1.9
Loss on disposal of business	(3.4)		1.5		3.9
Goodwill impairments	(11.8)		—		—
Other, net	0.5		(3.4)		(0.1)
	12.9	%	22.4	%	25.2	%

Tax impact on reconciling items is opposite of the expected result due to the pretax loss in 2023.

The components of deferred income tax expense (benefit) arise from various temporary differences and relate to items included in the Consolidated Statements of Operations as well as items recognized in other comprehensive earnings. The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities as of December 31, 2023 and December 25, 2022 are as follows:


(In millions)	2023		2022
Deferred tax assets:
Accounts receivable	$	31.8	28.8
Inventories	33.2		22.6
Loss and credit carryforwards	461.9		175.3
Operating leases	3.5		11.2
Operating expenses	19.1		29.9
Pension	6.9		9.1
Other compensation	46.4		50.7
Postretirement benefits	5.9		5.7
Interest rate hedge	4.8		4.5
Tax sharing agreement	0.3		0.3
Deferred revenue	0.4		4.4
Capitalized research and experimentation	100.6		81.2
Depreciation and amortization of long-lived assets	192.0		63.2
Interest expense limitation	28.7		—
Other	3.7		11.7
Gross deferred tax assets	939.2		498.6
Deferred tax liabilities:
Depreciation and amortization of long-lived assets	108.0		125.0
Equity method investment	19.0		14.9
Operating leases	1.1		9.3

Prepaid expenses	4.0		4.4
Other	22.8		15.4
Gross deferred tax liabilities	154.9		169.0
Valuation allowance	(432.0)		(189.8)
Net deferred income taxes	$	352.3	139.8

In May 2019, a public referendum held in Switzerland approved the Swiss Federal Act on Tax Reform and AHV Financing ("TRAF") proposals previously approved by the Swiss Parliament. The Swiss tax reform measures were effective on January 1, 2020. During 2023, the Company concluded its discussions with the tax authorities in Switzerland as to the application of the grandfathering rules related to TRAF. This has resulted in the recording of a deferred tax asset of $135.6 million related to tax intangibles that will be amortized over time. This treatment applies starting in 2021.

As of December 31, 2023, the Company has loss and credit carryforwards of $461.9 million, which is an increase of $286.6 million from $175.3 million at December 25, 2022. The most significant amount of the loss and credit carryforwards as of December 31, 2023 relates to U.S. capital losses of $375.6 million resulting from the sale of the eOne Film and TV business during 2023. Other significant loss and credit carryforwards relate to tax attributes of entities that have historically operated at losses in certain jurisdictions, as well as certain state tax attributes. The U.S. capital loss has a carryforward period of five years and will expire if not utilized before 2029. Some U.S. federal, state and international loss and credit carryforwards expire at various dates throughout 2024 while others have an indefinite carryforward period.

The recoverability of these future tax deductions and credits is evaluated by assessing the adequacy of future expected taxable income from all sources, including taxable income in prior carryback years, reversal of taxable temporary differences, forecasted operating earnings and available tax planning strategies. To the extent the Company does not consider it more likely than not that a deferred tax asset will be recovered, a valuation allowance is generally established. To the extent that a valuation allowance was established and it is subsequently determined that it is more likely than not that the deferred tax assets will be recovered, the change in the valuation allowance is recognized in the Consolidated Statements of Operations.

The Company has a valuation allowance for certain net deferred tax assets at December 31, 2023 of $432.0 million, which is an increase of $242.2 million from $189.8 million at December 25, 2022. The increase primarily pertains to a U.S. capital loss resulting from the sale of the Company's eOne Film and TV business, for which the Company recorded a valuation allowance of $364.8 million in 2023. The increase was offset by a decrease to the valuation allowance related to entities in certain jurisdictions which were sold as part of the sale of the eOne Film and TV business.

As of December 31, 2023 and December 25, 2022, the Company’s net deferred income taxes are recorded in the Consolidated Balance Sheets as follows:


(In millions)	2023		2022
Other assets	$	427.9	262.1
Other liabilities	(75.6)		(122.3)
Net deferred income taxes	$	352.3	139.8

We previously considered the earnings in our non-U.S. subsidiaries to be indefinitely reinvested and, accordingly, recorded no deferred income taxes. However, the Tax Cuts and Jobs Act (the "Tax Act") enacted on December 22, 2017 gave the Company more flexibility to manage cash globally. The Company still has significant cash needs outside the United States and continues to consistently monitor and analyze its global working capital and cash requirements. However, we intend to repatriate substantially all of our accumulated foreign earnings when appropriate. As of December 31, 2023, we have recorded $3.2 million of foreign withholding and U.S. state income tax liability. The Company has not finalized the timing of any actual cash distributions or the specific amounts and therefore we could still be subject to some additional foreign withholding taxes and U.S. state income taxes. We will record these additional tax effects, if any, in the period that we complete our analysis and are able to make a reasonable estimate.

A reconciliation of unrecognized tax benefits, excluding potential interest and penalties, for the fiscal years ended 2023, 2022, and 2021 is as follows:


(In millions)	2023		2022	2021
Balance at beginning of year	$	77.8	50.6	67.8
Gross increases in prior period tax positions	11.9		0.9	0.6
Gross decrease from disposition	(10.4)		—	—
Gross decreases in prior period tax positions	(23.4)		(0.2)	(12.0)
Gross increases in current period tax positions	3.8		28.6	4.6
Decrease related to settlements with tax authorities	(8.4)		—	(2.7)
Decreases from the expiration of statute of limitations	(11.4)		(2.1)	(7.7)
Balance at end of year	$	39.9	77.8	50.6

Unrecognized tax benefits as of December 31, 2023, December 25, 2022 and December 26, 2021 were $39.9 million, $77.8 million, and $50.6 million, respectively, and are recorded within Other liabilities, Prepaid expenses and other current assets, and Other assets in the Company's Consolidated Balance Sheets. If recognized, these tax benefits may have affected our income tax provision for fiscal years 2023, 2022, and 2021 by approximately $46.0 million, $53.0 million, and $46.0 million, respectively.

During 2023, 2022, and 2021, the Company recognized $5.8 million, $2.2 million, and $2.6 million, respectively, of potential interest and penalties, which are included as a component of Income taxes in the

accompanying Consolidated Statements of Operations. As of December 31, 2023, December 25, 2022, and December 26, 2021, the Company had accrued potential interest and penalties of $6.2 million, $8.8 million, and $7.3 million, respectively.

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 Company is no longer subject to U.S. federal income tax examinations for years before 2017. With few exceptions, the Company is no longer subject to U.S. state or local and non-U.S. income tax examinations by tax authorities in its major jurisdictions for years before 2017. The Company is currently under income tax examination by the Internal Revenue Service and in several U.S. state and local and non-U.S. jurisdictions.

The Company believes it is reasonably possible that a decrease of approximately $0.0 million - $4.0 million in gross unrecognized tax benefits may be necessary within the coming year as a result of expected tax return settlements and lapse of statute of limitations.

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Segment Reporting - Other Information (Details) - Revenue Benchmark - Customer Concentration Risk	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Wal-mart stores, Inc.
Product Information [Line Items]
Concentration risk, percentage	11.00%	11.00%	13.00%
Amazon.com
Product Information [Line Items]
Concentration risk, percentage	11.00%	10.00%	11.00%

Leases - Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Leases [Abstract]
Operating cash flows from operating leases	$ 48.6	$ 52.4	$ 53.4
Right-of-use assets obtained in exchange for lease obligations, Operating leases, net of lease modifications	$ 87.8	$ 5.8	$ 28.4
Weighted average remaining lease term, operating leases	7 years 1 month 6 days	4 years 4 months 24 days	5 years 7 months 6 days
Weighted average discount rate, operating lease	3.80%	3.40%	3.00%

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

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


			Fair Value Measurements Using
(In millions)	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
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
December 25, 2022
Assets:
Available-for-sale securities	$	1.7	1.7	—	—
Derivatives	7.9		—	7.9	—
Total assets	$	9.6	1.7	7.9	—
Liabilities:
Derivatives	$	2.9	—	2.9	—
Option agreement	1.7		—	—	1.7
Total liabilities	$	4.6	—	2.9	1.7

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

The Company’s derivatives consist of foreign currency forward and option contracts. The Company uses current forward rates of the respective foreign currencies to measure the fair value of these contracts. The Company's option agreement relates to an equity method investment in Discovery Family Channel. The option agreement is included in Other liabilities as of December 31, 2023 and December 25, 2022, and is valued using an option pricing model based on the fair value of the related investment. Inputs used in the option pricing model include volatility and fair value of the underlying company which are considered unobservable inputs as they reflect the Company’s own assumptions about the inputs that market participants would use in pricing the asset or liability. The Company believes that this is the best information available for use in the fair value measurement. See note 7 for more information on the Company's investment in the Discovery Family Channel.

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


(In millions)	2023		2022
Balance at beginning of year	$	(1.7)	(1.7)

Balance at end of year	$	(1.7)	(1.7)

- Definition

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

+ References + Details

Stock Options, Other Stock Awards and Warrants - Stock Options Activities (Details) - Share-based Payment Arrangement, Option - $ / shares shares in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning of year	1.8	2.9	2.8
Granted (in shares)	1.4	0.6	0.6
Exercised (in shares)	0.0	(0.8)	(0.5)
Expired or forfeited (in shares)	(0.9)	(0.9)	0.0
Outstanding at end of year	2.3	1.8	2.9
Exercisable at end of year (in shares)	0.9	0.8	2.1
Weighted average exercise price:
Granted (in dollars per share)	$ 55.92	$ 94.89	$ 90.31
Exercised (in dollars per share)	0	85.60	65.12
Expired or forfeited (in dollars per share)	81.22	97.16	95.59
Outstanding at end of year (in dollars per share)	75.24	93.62	92.15
Exercisable at end of year (in dollars per share)	$ 93.96	$ 92.95	$ 92.05

Investments in Productions and Investments in Acquired Content Rights - Program Costs Amortization (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Product Information [Line Items]
Program cost amortization	$ 448.9	$ 555.5	$ 628.6
Capitalized Programming Costs, Individual Monetization [Abstract]
2024	10.1
2025	11.6
2026	6.4
Capitalized Programming Costs, Film/TV Group Monetization [Abstract]
2024	15.4
2025	16.7
2026	25.2
Total
2024	25.5
2025	28.3
2026	31.6
Investment in Production
Product Information [Line Items]
Program cost amortization	400.7
Investment in Content
Product Information [Line Items]
Program cost amortization	$ 48.2

Long-Term Debt - Schedule of Movements in Production Financing and Other Related Loans (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Production Financing
Production financing loans, beginning balance	$ 195.6
Drawdowns	117.4
Repayments	(206.7)
Removed with sale of eOne film and TV	(105.8)
Foreign exchange differences	(0.5)
Production financing loans, ending balance	$ 0.0

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Components of Long-term debt for the fiscal years ended on December 31, 2023 and December 25, 2022 are as follows:


(In millions)	2023			2022
	Carrying Cost		Fair Value	Carrying Cost	Fair Value
3.90% Notes Due 2029	$	900.0	839.8	900.0	808.2
3.55% Notes Due 2026	675.0		641.0	675.0	635.3
3.00% Notes Due 2024	500.0		488.4	500.0	482.2
6.35% Notes Due 2040	500.0		520.1	500.0	498.4
3.50% Notes Due 2027	500.0		472.2	500.0	465.8

5.10% Notes Due 2044	300.0		271.6	300.0	261.1

6.60% Debentures Due 2028	109.9		116.0	109.9	112.1

Variable % Notes Due December 30, 2024 (1)	—		—	310.0	310.0
Production Financing Facilities (2)	—		—	53.2	53.2
Total long-term debt	3,484.9		3,349.1	3,848.1	3,626.3
Less: Deferred debt expenses	19.1		—	23.7	—
Less: Current portion	500.0		—	113.2	—
Long-term debt	$	2,965.8	3,349.1	3,711.2	3,626.3

(1) During the fourth quarter of 2023, the Company paid the remaining principal balance of $250.0 million of the Variable % Notes Due December 30, 2024.

(2) The Company's production financing facilities were assumed by Lionsgate effective upon the closing the sale of the eOne Film and TV business in the fourth quarter of 2023. See note 3 for additional information.

Summary of Contractual Obligation, Fiscal Year Maturity

The Company's long-term borrowings have the following future contractual maturities:


Future long-term borrowings contractual payments	(In millions)
2024	$	500.0
2025	—
2026	675.0
2027	500.0
2028	109.9
2029 and thereafter	1,700.0


	$	3,484.9

Schedule of Movements in Production Financing and Other Related Loans

The following table represents the movements in production financing loans during 2023:


(In millions)	Production Financing
December 25, 2022	$	195.6
Drawdowns	117.4
Repayments	(206.7)
Removed with sale of eOne film and TV (1)	(105.8)
Foreign exchange differences	(0.5)
Balance at December 31, 2023	$	—

(1) See note 3 for additional information on the sale of the eOne Film and TV business.

- 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

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482925/835-30-45-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482925/835-30-45-1A

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-3

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482949/835-30-55-8

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480848/942-470-50-3

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-8

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-6

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-7

+ Details

Revenue Recognition

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue Recognition

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 either 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, respectively, and the long-term portion is recorded within Other long-term assets.

The change in the carrying amount of contract assets and liabilities for the year ended December 31, 2023 is as follows:


(In millions)	December 31, 2023
Assets
Balance at beginning of the year	$	594.4
Recognized in current year	478.6
Amounts reclassified (1)	(474.2)
Assets disposed (2)	(402.3)
Foreign currency impact	16.8
Ending Balance	$	213.3

Liabilities
Balance at beginning of the year	$	113.0
Recognized in current year	460.1
Amounts in beginning balance reclassified to revenue	(89.9)
Current year amounts reclassified to revenue	(224.3)
Liabilities disposed (1)	(25.8)
Foreign currency impact	(2.3)
Ending Balance	$	230.8

(1) These amounts are primarily related to balances reclassified to Accounts receivable.

(2) See note 3 for additional information on the sale of the eOne film and TV business.

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 December 31, 2023, unrecognized revenue attributable to unsatisfied performance obligations expected to be recognized in the future was $11.7 million. Of this amount, we expect to recognize approximately $6.6 million in 2024 and $5.1 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 December 31, 2023 and December 25, 2022 are primarily from contracts with customers. The Company had no material expense for credit losses in the fiscal years ended 2023, 2022, or 2021.

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 four brand categories: Franchise Brands, Partner Brands, Portfolio Brands, and Non-Hasbro Branded Film & TV. We believe these collectively depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. See note 21 for additional information on disaggregation of revenues.

In addition to the required disclosures below, see further discussion of the Company's revenue recognition policy in note 1.

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021	Dec. 27, 2023
Property, Plant and Equipment [Line Items]
Percentage of revenues from sales of finished products	75.00%	76.00%	74.00%
Program cost amortization period	10 years
Selling, distribution and administration	$ 1,480.4	$ 1,666.1	$ 1,432.7
Deferred tax assets, valuation allowance	$ 432.0	$ 189.8
Antidilutive securities excluded from computation of earnings (in shares)	2.5	2.7	2.2
Antidilutive securities excluded from computation of earnings per share, shares would have been included if no net loss (in shares)	1.6
Antidilutive securities excluded from computation of earnings per share, amount, treasury stock method (in shares)	0.2
Digital Game
Property, Plant and Equipment [Line Items]
Revenue recognition, period from purchase	6 months
Shipping and handling
Property, Plant and Equipment [Line Items]
Selling, distribution and administration	$ 225.6	$ 247.7	$ 264.1
Minimum
Property, Plant and Equipment [Line Items]
Finite-lived intangible asset, useful life	2 years
Maximum
Property, Plant and Equipment [Line Items]
Finite-lived intangible asset, useful life	19 years
Production Financing Facilitie
Property, Plant and Equipment [Line Items]
Debt instrument term	2 years
Land and improvements \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	15 years
Land and improvements \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	19 years
Buildings and improvements \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	15 years
Buildings and improvements \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	25 years
Machinery and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Machinery and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	12 years
Tools, dies and molds \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Disposed of by Sale \| eOne Film And TV Business
Property, Plant and Equipment [Line Items]
Aggregate sales price				$ 375.0

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2023
Accounting Policies [Abstract]
Preparation of Consolidated Financial Statements	The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and notes thereto. Actual results could differ from those estimates. Certain reclassifications have been made to the prior periods’ consolidated financial statements in order to conform to the current period presentation. These reclassifications did not impact any prior amounts of net earnings (loss) or cash flows.
Principles of Consolidation, and Noncontrolling Interests	The consolidated financial statements include the accounts of Hasbro, Inc. and all majority-owned subsidiaries (“Hasbro” or the “Company”). Investments representing 20% to 50% ownership interests in other companies are accounted for using the equity method. For those majority-owned subsidiaries that are not 100% owned by Hasbro, the interests of the minority owners are accounted for as noncontrolling interestsThe financial results and position of the noncontrolling interests acquired through the acquisition of eOne are included in their entirety in the Company’s Consolidated Statements of Operations and Consolidated Balance Sheets beginning with the first quarter of 2020. The value of the redeemable noncontrolling interests is presented in the Consolidated Balance Sheets as temporary equity between liabilities and shareholders' equity. During 2022, the Company redeemed all outstanding redeemable noncontrolling interest in Renegade Entertainment, LLC, the only entity for which the Company previously held redeemable noncontrolling interest. During 2022, the Company's outstanding non-redeemable noncontrolling interest in Round Room Live, LLC was included with the disposition of certain non-core businesses associated with the Company's strategy shift. The value of the non-redeemable noncontrolling interests is presented in the Consolidated Balance Sheets within Total shareholders' equity. Earnings (losses) attributable to the redeemable noncontrolling interests and non-redeemable noncontrolling interests are presented as a separate line on the Consolidated Statements of Operations which is necessary to identify those earnings (losses) specifically attributable to Hasbro.
Fiscal Year	Hasbro’s fiscal year ends on the last Sunday in December. The fiscal year ended December 31, 2023 was a fifty-three week period. The fiscal years ended December 25, 2022, and December 26, 2021 were each fifty-two week periods.
Cash and Cash Equivalents	Cash and cash equivalents include all cash balances and highly liquid investments purchased with an initial maturity to the Company of three months or less.
Marketable Securities	Included in marketable securities is common stock in a public company arising from a business relationship. This type of investment is also included in Prepaid expenses and other current assets in the accompanying Consolidated Balance Sheets.
Accounts Receivable and Allowance for Credit Losses	Credit is granted to customers predominantly on an unsecured basis. Credit limits and payment terms are established based on extensive evaluations made on an ongoing basis throughout the fiscal year with regard to the financial performance, cash generation, financing availability and liquidity status of each customer. The majority of customers are formally reviewed at least annually; more frequent reviews are performed based on the customer’s financial condition and the level of credit being extended. For customers on credit who are experiencing financial difficulties, management performs additional financial analyses before shipping orders. The Company uses a variety of financial transactions, based on availability and cost, to increase the collectability of certain of its accounts, including letters of credit, credit insurance, and requiring cash in advance of shipping. The Company records an allowance for credit losses for accounts receivable based on management’s expected credit losses. Management's estimate of expected credit losses is based on its assessment of the business environment, customers’ financial condition, historical collection experience, accounts receivable aging and customer disputes. Accounts receivable, net on the Consolidated Balance Sheets represents amounts due from customers less the allowance for credit losses as well as allowances for discounts, rebates and returns.
Inventories	Inventories are valued at the lower of cost (first-in, first-out) or net realizable value. Based upon a consideration of quantities on hand, actual and projected sales volume, anticipated product selling price and product lines planned to be discontinued, slow-moving and obsolete inventory is written down to its estimated net realizable value.
Equity Method Investment	For the Company’s equity method investments, only the Company’s investment in and amounts due to and from the equity method investment are included in the Consolidated Balance Sheets and only the Company’s share of the equity method investment’s earnings (losses) is included in Other expense (income), net in the Consolidated Statements of Operations. Dividends, cash distributions, loans or other cash received from the equity method investment, additional cash investments, loan repayments or other cash paid to the investee are included in the Consolidated Statements of Cash Flows. The Company reviews its equity method investments for impairment on a periodic basis. If it has been determined that the fair value of the equity investment is less than its related carrying value and that this decline is other-than-temporary, the carrying value of the investment is adjusted downward to reflect these declines in value. The Company owns an interest in a joint venture, Discovery Family Channel (“the Network”), with Discovery Communications, Inc. (“Discovery”). The Company has determined that it does not meet the control requirements to consolidate the Network and accounts for the investment using the equity method of accounting. The Company and Discovery are also party to an option agreement with respect to the Network. The Company has recorded a liability for this option agreement at fair value which is included in Other liabilities in the Consolidated Balance Sheets. Unrealized gains and losses on this option are recognized in Other expense (income), net in the Consolidated Statements of Operations as they occur.
Property, Plant and Equipment, Net	Property, plant and equipment are stated at cost less accumulated depreciation. Depreciation is computed using accelerated and straight-line methods to depreciate the cost of property, plant and equipment over their estimated useful lives. The principal lives, in years, used in determining depreciation rates of various assets are: land improvements 15 to 19, buildings and improvements 15 to 25 and machinery and equipment (including computer hardware and software) 3 to 12. Depreciation expense is classified in the Consolidated Statements of Operations based on the nature of the property and equipment being depreciated. Tools, dies and molds are depreciated over their useful lives, which is generally three years, using an accelerated method. The Company generally owns all tools, dies and molds related to its products. Property, plant and equipment, net is reviewed for impairment whenever events or circumstances indicate the carrying value may not be recoverable. Recoverability is measured by a comparison of the carrying amount of the asset or related asset group to future undiscounted cash flows expected to be generated by the asset or asset group. If such assets are considered to be impaired, the impairment to be recognized would be measured by the amount by which the carrying value of the assets exceeds their fair value wherein the fair value is the appraised value. Furthermore, assets to be disposed of are carried at the lower of the net book value or their estimated fair value less disposal costs.
Goodwill and Other Intangible Assets, Net	Goodwill results from acquisitions the Company has made over time. Substantially all of the Company's other intangible assets consist of the cost of acquired product rights. In establishing the value of such rights, the Company considers existing trademarks, copyrights, patents, license agreements and other product-related rights. These rights were valued on their acquisition dates based on the anticipated future cash flows from the underlying product lines. The Company has certain intangible assets related to the Tonka and Milton Bradley acquisitions that have indefinite lives. Goodwill and intangible assets deemed to have indefinite lives are not amortized and are tested for impairment at least annually. The annual goodwill test begins with a qualitative assessment, where qualitative factors and their impact on critical inputs are assessed to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If the Company determines that a reporting unit has an indication of impairment based on the qualitative assessment, a quantitative impairment assessment is performed. The Company's intangible assets having definite lives are being amortized over periods ranging from two to nineteen years, primarily using the straight-line method. The Company reviews intangible assets with definite lives for impairment whenever events or changes in circumstances indicate the carrying value may not be recoverable. Recoverability is measured by a comparison of the carrying amount of the asset to future undiscounted cash flows expected to be generated by the asset or asset group. If such assets were considered to be impaired, the impairment to be recognized would be measured by the amount by which the carrying value of the assets exceeds their fair value wherein that fair value is determined based on discounted cash flows. The Company's reporting units are determined in accordance with the provisions of Accounting Standards Codification (“ASC”) 350, “Intangibles - Goodwill and Other (Topic 350).” The Company performs its annual impairment testing of goodwill and definite-lived intangible assets during the fourth quarter of each year. See note 6 for additional information on the results of the Company’s impairment tests.
Financial Instruments	Hasbro’s financial instruments include cash and cash equivalents, accounts receivable, short-term borrowings, accounts payable and certain accrued liabilities. As of December 31, 2023, the carrying cost of these instruments approximated their fair value.
Production Financing	Production financing relates to financing facilities for certain of the Company's television and film productions. Production financing facilities are arranged on an individual production basis by either special purpose production subsidiaries, each secured by the assets and future revenues of such production subsidiaries, which are non-recourse to the Company's assets, or through a senior revolving credit facility obtained in November 2021, dedicated to production financing. These facilities typically have maturities of less than two years while the titles are in production, and are repaid once the production is delivered and all tax credits, broadcaster pre-sales and international sales have been received. In connection with the production of a television or film program, the Company records initial cash outflows within cash flows from operating activities due to its investment in the production and concurrently records cash inflows within cash flows from financing activities from the production financing it normally obtains. Under these facilities, certain of the Company's cash is restricted while the financing is outstanding. All of the Company's individual production loan and the senior revolving credit facility dedicated to production financing were assumed by Lionsgate effective upon the closing of the sale of the eOne Film and TV business in the fourth quarter of 2023. For further details, see notes 3 and 11.
Revenue Recognition	Revenue is recognized when control of the promised goods, 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. Revenues from sales of finished products to customers accounted for 75%, 76% and 74% of the Company’s revenues for the fiscal years ended 2023, 2022 and 2021, respectively. When determining whether control of the finished products has transferred to the customer, the Company considers any future performance obligations. Generally, the Company has no post-shipment obligation on sales of finished products to customers and revenues from product sales are recognized upon passing of title to the customer, which is generally at the time of shipment. Any shipping and handling activities that are performed by the Company, whether before or after a customer has obtained control of the products, are considered activities to fulfill our obligation to transfer the products, and are recorded as incurred within selling, distribution, and administration expenses. The Company offers various discounts, rebates, allowances, returns, and markdowns to its customers (collectively, “allowances”), all of which are considered when determining the transaction price. Certain allowances are fixed and determinable at the time of sale and are recorded at the time of sale as a reduction to revenues. Other allowances can vary depending on future outcomes such as customer sales volume (“variable consideration”). The Company estimates the amount of variable consideration using the expected value method. In estimating the amount of variable consideration using the expected value method, the Company considers various factors including but not limited to: customer terms, historical experience, any expected deviations from historical experience, and existing or expected market conditions. The Company then records an estimate of variable consideration as a reduction to revenues at the time of sale. The Company adjusts its estimate of variable consideration at least quarterly or when facts and circumstances used in the estimation process may change. Historically, adjustments to estimated variable consideration have not been material. The Company enters into contracts to license its intellectual property, which consists of its brands, in various channels including but not limited to: consumer products such as apparel or home goods, within formats such as online and digital games, within venues such as theme parks, or within formats such as television and film. The licensees pay the Company either a sales-based or usage-based royalty, or a combination of both, for use of the brands, in some cases subject to minimum guaranteed amounts or fixed fees. The license of the Company’s brands provide access to the intellectual property over the term of the license, generally without any other performance obligation of the Company other than keeping the intellectual property active, and is therefore considered a right-to-access license of symbolic intellectual property. The Company records sales-based or usage-based royalty revenues for right-to-access licenses at the occurrence of the licensees’ subsequent sale or usage. When the arrangement includes a minimum guarantee, the Company records the minimum guarantee on a ratable basis over the term of the license period and does not record the sales-based or usage-based royalty revenues until they exceed the minimum guarantee. The Company also produces, sells and licenses television and film content for distribution to third parties in formats that include broadcast, digital streaming, transactional and theatrical. These are intellectual property licenses where the licensees pay either a fixed fee for the content license or a variable fee in the form of a sales based royalty. The content that the Company delivers to its licensees typically has stand-alone functionality, generally without any other performance obligation of the Company, and is therefore considered a right-to-use license of functional intellectual property. The Company records revenues for right-to-use licenses once the license period has commenced and the licensee has the ability to use the delivered content. In arrangements where the licensee pays the Company a fixed fee for multiple seasons or multiple series of programming, arrangement fees are recorded as revenues based upon their relative fair values. The Company also earns advertising revenues from certain content made available on free to consumer, streaming video on demand platforms where the Company earns a portion of the advertising revenues earned by the service provider. The performance obligation is met and revenue is recorded when the user accesses the Company’s content through the streaming platform. The Company develops and hosts digital games featuring its brands within the games, such as Magic: The Gathering Arena and D&D Beyond. The Company does not charge a fee to the end users for the download of the games or the ability to play the games. The end users make in-application purchases of virtual currencies, with such purchased virtual currencies to be used in the games. In addition, the Company offers a subscription service for D&D Beyond that provides access to a variety of added benefits, typically for a recurring monthly, semi-annual, or annual fee. The Company records revenues from in-application purchases based on either the usage patterns of the players or the player’s estimated life, depending on the nature of the game item purchased in exchange for virtual currency. For items recognized over the player's estimated life, the Company currently recognizes digital game's revenues ratably within six months of purchase, while revenue received from subscription services is recognized ratably over the subscription term. The Company controls all aspects of the digital goods delivered to the consumer.
Costs of Sales	Cost of sales primarily consists of purchased materials, labor, tooling, manufacturing overheads and other inventory-related costs such as obsolescence.
Investment in Productions and Acquired Content Rights and Program Cost Amortization	The Company incurs costs in connection with the production of television programming and live action movies. The majority of these costs are capitalized by the Company as they are incurred and amortized using the individual-film-forecast method, whereby these costs are amortized in the proportion that the current year’s revenues bear to management’s estimate of total ultimate revenues as of the beginning of such period related to the program. Ultimate revenue estimates are periodically reviewed and adjustments, if any, will result in changes to amortization rates and estimated accruals for residuals and participations. Ultimate revenue includes estimates over a period not to exceed ten years following the date of release of the production. Ultimate revenue used in amortization of acquired content rights is estimated over the life of the acquired rights but no longer than a period of ten years. These capitalized costs are reported at the lower of cost, less accumulated amortization, or fair value, and reviewed for impairment when an event or change in circumstances occurs that indicates that impairment may exist. The fair value is determined using a discounted cash flow model which is primarily based on management’s future revenue and cost estimates. Certain of these agreements require the Company to pay minimum guaranteed advances ("MGs") for participations and residuals. MGs are recognized in the Consolidated Balance Sheets when a liability arises, usually on delivery of the television or film program to the Company. The current portion of MGs are recorded as Payables and accrued liabilities and the long-term portion are recorded as Other liabilities. Substantially all of the Company’s non-Hasbro branded productions, and all of the Company's acquired content rights, were included with the eOne Film and TV business sold to Lionsgate in the fourth quarter of 2023. The Company retained all Hasbro-branded content and will continue to develop and produce animation, digital shorts, scripted TV and theatrical films for audiences related to core Hasbro IP.
Royalties	The Company enters into license agreements with strategic partners, inventors, designers and others for the use of intellectual properties in its products. In addition, the Company enters into minimum guarantee royalty arrangements related to the purchase of film and television rights for content to be delivered in the future. These agreements may call for payment in advance or future payment of minimum guaranteed amounts. Amounts paid in advance are recorded as an asset and charged to expense when the related revenue is recognized in the Consolidated Statements of Operations. If all or a portion of the minimum guaranteed amounts appear not to be recoverable through future use of the rights obtained under the license, the non-recoverable portion of the guaranty is charged to expense at that time.
Advertising	Production costs of commercials are expensed in the fiscal year during which the production is first aired. The costs of other advertising and promotion programs are expensed in the fiscal year incurred.
Shipping and Handling	Hasbro expenses costs related to the shipment and handling of goods to customers as incurred.
Operating Leases	The Company leases certain property, vehicles and other equipment through operating leases. Operating lease right-of-use assets are recorded within Property, Plant and Equipment and the related liabilities recorded within Accrued liabilities and Other liabilities on the Company’s Consolidated Balance Sheets. The Company has no material finance leases. Operating lease assets represent the Company’s right to use the underlying asset for the lease term and lease liabilities represent an obligation to make lease payments according to the terms of the lease. Operating lease assets and liabilities are recognized at the inception of the lease agreement based on the estimated present value of lease payments over the lease term, using our incremental borrowing rate based on information available on the lease commencement date. The Company capitalizes non-lease components for equipment leases, but expenses non-lease components as incurred for real estate leases. Leases with an expected term of 12 months or less are not capitalized. Lease expense under such leases is recorded straight line over the life of the lease.
Income Taxes	Hasbro uses the asset and liability approach for financial accounting and reporting of income taxes. Deferred income taxes reflect the net tax effect of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Deferred taxes are measured using rates expected to apply to taxable income in years in which those temporary differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company recognizes deferred tax assets to the extent it believes that these assets are more likely than not to be realized. In making such a determination, all available positive and negative evidence is considered, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. The assumptions utilized in determining future taxable income require significant judgment and are consistent with the plans and estimates used to manage the underlying businesses. Actual operating results in future years could differ from current assumptions, judgments and estimates. However, the Company believes that it is more likely than not that most of the deferred tax assets recorded on our Consolidated Balance Sheets will ultimately be realized. A valuation allowance is recorded to reduce deferred tax assets to the net amount believed to be more likely than not to be realized.
Foreign Currency Translation	Foreign currency assets and liabilities are translated into U.S. dollars at period-end exchange rates, and revenues, costs and expenses are translated at weighted average exchange rates during each reporting period. Net earnings include gains or losses resulting from foreign currency transactions and, when required, translation gains and losses resulting from the use of the U.S. dollar as the functional currency in highly inflationary economies. Other gains and losses resulting from translation of financial statements are a component of Other comprehensive earnings (loss).
Pension Plans, Postretirement and Postemployment Benefits	Pension expense and related amounts in the Consolidated Balance Sheets are based on actuarial computations of current and future benefits. Actual results that differ from the actuarial assumptions are accumulated and, if outside a certain corridor, amortized over future periods and, therefore affect recognized expense in future periods. The corridor used for this purpose is equal to 10% of the greater of plan liabilities or market asset values, and future periods vary by plan, but generally equal the actuarially determined average expected future working lifetime of active plan participants. The Company’s policy is to fund amounts which are required by applicable regulations and which are tax deductible. The estimated amounts of future payments to be made under other retirement programs are being accrued currently over the period of active employment and are also included in pension expense. Hasbro has a contributory postretirement health and life insurance plan covering substantially all employees who retired under any of its United States defined benefit pension plans prior to January 1, 2020, and meet certain age and length of service requirements. During the fourth quarter of 2019, with the approval of the Compensation Committee of the Company's Board of Directors, the Company announced the elimination of the contributory post-retirement health and life insurance coverage for employees whose retirement eligibility begins after December 31, 2019. See note 16 for further discussion. The cost of providing these benefits on behalf of employees who retired prior to 1993 has been substantially borne by the Company. The cost of providing benefits on behalf of eligible employees who retire after 1992 is borne by the employee. The Company also has several plans covering certain groups of employees, which may provide benefits to such employees following their period of employment but prior to their retirement. The Company measures the costs of these obligations based on actuarial computations.
Stock-Based Compensation	The Company has a stock-based employee compensation plan for employees and non-employee members of the Company’s Board of Directors. Under this plan the Company may grant stock options at or above the fair market value of the Company’s stock, as well as restricted stock, restricted stock units and contingent stock performance awards. All awards are measured at fair value at the date of the grant and amortized as expense on a straight-line basis over the requisite service period of the award. For awards contingent upon Company performance, the measurement of the expense for these awards is based on the Company’s current estimate of its performance over the performance period.
Dividend Equivalent Units	Beginning with employee stock incentive awards granted in 2022, the payment of cash dividends to shareholders also results in the crediting of Dividend Equivalent Units (“DEUs”) to holders of restricted stock units ("RSUs") and contingent stock performance awards ("PSUs") granted under the Company's Restated 2003 Stock Incentive Plan, as amended, for employees as defined and described in note 15. The DEUs are credited as additional RSUs or PSUs and settled concurrently with the vesting of associated awards. DEUs are forfeited in the event the underlying RSUs or PSU's do not vest. The dividend equivalent value of forfeitable DEUs is treated as a reduction of retained earnings or, if the Company is in a retained deficit position, as a reduction of additional paid-in capital.
Risk Management Contracts	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 purchases of inventory, product sales, as well as other cross-border currency requirements not denominated in the functional currency of the business unit, are primarily denominated in United States, Canadian and Hong Kong dollars as well as Euros and British pound sterling. 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 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. At the inception of the contracts, Hasbro designates its derivatives as either cash flow or fair value hedges. The Company formally documents all relationships between hedging instruments and hedged items as well as its risk management objectives and strategies for undertaking various hedge transactions. All hedges designated as cash flow hedges are linked to forecasted transactions and the Company assesses, both at the inception of the hedge and on an on-going basis, the effectiveness of the derivatives used in hedging transactions in offsetting changes in the cash flows of the forecasted transaction. The Company records all derivatives, such as foreign currency exchange contracts, on the Consolidated Balance Sheets at fair value. Changes in the derivative fair values that are designated as cash flow hedges are deferred and recorded as a component of Accumulated other comprehensive loss (“AOCE”) until the hedged transactions occur and are then recognized in the Consolidated Statements of Operations. The Company’s foreign currency contracts hedging anticipated cash flows are designated as cash flow hedges. When it is determined that a derivative is not highly effective as a hedge, the Company discontinues hedge accounting prospectively. Any gain or loss deferred through that date remains in AOCE until the forecasted transaction occurs, at which time it is reclassified to the Consolidated Statements of Operations. To the extent the transaction is no longer deemed probable of occurring, hedge accounting treatment is discontinued and amounts deferred would be reclassified to the Consolidated Statements of Operations. In the event hedge accounting requirements are not met, gains and losses on such instruments are included in the Consolidated Statements of Operations. The Company uses derivatives to economically hedge intercompany loans denominated in foreign currencies. The Company does not use hedge accounting for these contracts as changes in the fair value of these contracts are substantially offset by changes in the fair value of the intercompany loans. Prior to the issuance of certain long-term Notes due 2021 and 2044, the Company entered into a forward-starting interest rate swap contract to hedge the anticipated U.S. Treasury interest rates on the anticipated debt issuance. These instruments, which were designated and effective as hedges, were terminated on the date of the related debt issuance and the then fair value of these instruments was recorded to AOCE and amortized through the Consolidated Statements of Operations using an effective interest rate method over the life of the related debt.
Net Earnings Per Common Share	Basic net earnings per share is computed by dividing net earnings by the weighted average number of shares outstanding for the year as well as awards that have not been issued but all contingencies have been met. Diluted net earnings per share is similar except that the weighted average number of shares outstanding is increased by dilutive securities, and net earnings are adjusted, if necessary, for certain amounts related to dilutive securities. Dilutive securities include shares issuable upon exercise of stock options for which the market price exceeds the exercise price, less shares which could have been purchased by the Company with the related proceeds. Dilutive securities also include shares issuable under restricted stock unit award agreements.

Other Comprehensive Earnings (Loss) - Schedule of Other Comprehensive Income (Loss), Tax Effect (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Other comprehensive earnings (loss), tax effect:
Tax benefit on unrealized holding gains	$ 0.0	$ 0.1	$ 0.0
Tax benefit (expense) on cash flow hedging activities	2.8	(1.3)	(1.0)
Tax expense on foreign currency translation amounts	0.0	0.0	(7.2)
Tax expense on changes in unrecognized pension amounts	0.0	(5.9)	(1.5)
Reclassifications to earnings, tax effect:
Tax (benefit) expense on cash flow hedging activities	(1.9)	1.6	(0.5)
Tax expense (benefit) on amortization of unrecognized pension and postretirement amounts reclassified to the consolidated statements of operations	0.1	(0.3)	(0.6)
Total tax effect on other comprehensive earnings (loss)	$ 1.0	$ (5.8)	$ (10.8)

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 12
-SubTopic 10
-Topic 220
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-12

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-4

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481674/830-30-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-17

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-20

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-10

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482659/740-20-45-11

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482659/740-20-45-2

+ Details

Segment Reporting - Net Revenues by Category (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Revenue from External Customer [Line Items]
Net revenues	$ 5,003.3	$ 5,856.7	$ 6,420.4
Wizards of the Coast and Digital Gaming
Revenue from External Customer [Line Items]
Net revenues	1,457.6	1,325.1	1,286.6
Wizards of the Coast and Digital Gaming \| Tabletop Gaming
Revenue from External Customer [Line Items]
Net revenues	1,072.5	1,067.0	950.6
Wizards of the Coast and Digital Gaming \| Digital and Licensed Gaming
Revenue from External Customer [Line Items]
Net revenues	385.1	258.1	336.0
Entertainment
Revenue from External Customer [Line Items]
Net revenues	659.3	959.1	1,152.2
Entertainment \| Film and TV
Revenue from External Customer [Line Items]
Net revenues	575.5	837.6	932.5
Entertainment \| Family Brands
Revenue from External Customer [Line Items]
Net revenues	83.8	79.4	132.9
Entertainment \| Music and Other
Revenue from External Customer [Line Items]
Net revenues	$ 0.0	$ 42.1	$ 86.8

- Definition

+ References

+ Details

Fair Value of Financial Instruments - Fair Value Hierarchy (Details) - Fair value, recurring - USD ($) $ in Millions	Dec. 31, 2023	Dec. 25, 2022
Assets:
Available-for-sale securities	$ 1.1	$ 1.7
Derivatives	0.7	7.9
Total assets	1.8	9.6
Liabilities:
Derivatives	3.9	2.9
Option agreement	1.7	1.7
Total liabilities	5.6	4.6
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Available-for-sale securities	1.1	1.7
Derivatives	0.0	0.0
Total assets	1.1	1.7
Liabilities:
Derivatives	0.0	0.0
Option agreement	0.0	0.0
Total liabilities	0.0	0.0
Significant Other Observable Inputs (Level 2)
Assets:
Available-for-sale securities	0.0	0.0
Derivatives	0.7	7.9
Total assets	0.7	7.9
Liabilities:
Derivatives	3.9	2.9
Option agreement	0.0	0.0
Total liabilities	3.9	2.9
Significant Unobservable Inputs (Level 3)
Assets:
Available-for-sale securities	0.0	0.0
Derivatives	0.0	0.0
Total assets	0.0	0.0
Liabilities:
Derivatives	0.0	0.0
Option agreement	1.7	1.7
Total liabilities	$ 1.7	$ 1.7

Long-Term Debt

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Long-Term Debt

Components of Long-term debt for the fiscal years ended on December 31, 2023 and December 25, 2022 are as follows:


(In millions)	2023			2022
	Carrying Cost		Fair Value	Carrying Cost	Fair Value
3.90% Notes Due 2029	$	900.0	839.8	900.0	808.2
3.55% Notes Due 2026	675.0		641.0	675.0	635.3
3.00% Notes Due 2024	500.0		488.4	500.0	482.2
6.35% Notes Due 2040	500.0		520.1	500.0	498.4
3.50% Notes Due 2027	500.0		472.2	500.0	465.8

5.10% Notes Due 2044	300.0		271.6	300.0	261.1

6.60% Debentures Due 2028	109.9		116.0	109.9	112.1

Variable % Notes Due December 30, 2024 (1)	—		—	310.0	310.0
Production Financing Facilities (2)	—		—	53.2	53.2
Total long-term debt	3,484.9		3,349.1	3,848.1	3,626.3
Less: Deferred debt expenses	19.1		—	23.7	—
Less: Current portion	500.0		—	113.2	—
Long-term debt	$	2,965.8	3,349.1	3,711.2	3,626.3

(1) During the fourth quarter of 2023, the Company paid the remaining principal balance of $250.0 million of the Variable % Notes Due December 30, 2024.

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

The Notes bear interest at the stated rates but may be subject to upward adjustment if the credit rating of the Company is reduced by Moody's or Standard & Poors. The adjustment can be from 0.25% to 2.00% based on the extent of the ratings decrease. The Company may redeem the Notes at its option at the greater of the principal amount of the Notes or the present value of the remaining scheduled payments discounted using the effective interest rate on applicable U.S. Treasury bills at the time of repurchase, plus (1) 25 basis points (in the case of the 2024 Notes); (2) 30 basis points (in the case of the 2026 Notes); and (3) 35 basis points (in the case of the 2029 Notes). In addition, on and after October 19, 2024 for the 2024 Notes, September 19, 2026 for the 2026 Notes and August 19, 2029 for the 2029 Notes, such series of Notes will be redeemable, in whole at any time or in part from time to time, at the Company's option at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus any accrued and unpaid interest.

In September 2019, the Company entered into the $1.0 billion Term Loan Agreement consisting of (1) a three-year senior unsecured term loan facility in an aggregate principal amount of $400.0 million (the “Three-Year Tranche”) and (2) a five-year senior unsecured term loan facility in an aggregate principal amount of $600.0 million (the “Five-Year Tranche” and together with the Three-Year Tranche, the “Term Loan Facilities”). The full amount of the Term Loan Facilities were drawn down on December 30, 2019, the closing date of the eOne acquisition. The Three-Year Tranche loan notes were fully repaid as of the Company’s fiscal year ended December 26, 2021.

During 2022, the Company made $50.0 million principal balance and principal amortization payments totaling $37.5 million on the Five-Year Tranche loan notes. During 2023, the Company made principal amortization

payments totaling $60.0 million on the Five-year Tranche loan notes, and repaid the remaining $250.0 million principal balance of the Five-Year Tranche loans using the proceeds received from the sale of eOne Film and TV.

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

Current portion of long-term debt at December 31, 2023 of $500.0 million, as shown on the Consolidated Balance Sheet, represents the principal balance of the 3.00% Notes due 2024. All of the Company’s other long-term borrowings have contractual maturities that occur subsequent to 2025.

The Company's long-term borrowings have the following future contractual maturities:


Future long-term borrowings contractual payments	(In millions)
2024	$	500.0
2025	—
2026	675.0
2027	500.0
2028	109.9
2029 and thereafter	1,700.0


	$	3,484.9

The fair values of the Company’s long-term debt are considered Level 3 fair values (see note 14 for further discussion of the fair value hierarchy) and are measured using the discounted future cash flows method. In addition to the debt terms, the valuation methodology includes an assumption of a discount rate that approximates the current yield on a similar debt security. This assumption is considered an unobservable input in that it reflects the Company’s own assumptions about the inputs that market participants would use in pricing the asset or liability. The Company believes that this is the best information available for use in the fair value measurement.

Production Financing

Prior to the sale of the eOne Film and TV business to Lionsgate, the Company used production financing to fund certain of its television and film productions which were arranged on an individual production basis by either special purpose production subsidiaries, each secured by the assets and future revenues of such production subsidiaries, which were non-recourse to the Company's assets, or through a senior revolving credit facility dedicated to production financing.

Production financing facilities typically have maturities of less than two years, while the titles are in production, and are repaid once delivered and all credits, broadcaster pre-sales and international sales have been received. As of December 25, 2022, $195.6 million of production financing facilities was included within Current liabilities in the Company's Consolidated Balance Sheets. Effective upon the closing of the sale of the eOne Film and TV business in the fourth quarter of 2023, the Company's senior revolving credit facility dedicated to production financing and all outstanding individual production loans were assumed by Lionsgate. As such, the Company had no production financing outstanding as of December 31, 2023.

The following table represents the movements in production financing loans during 2023:


(In millions)	Production Financing
December 25, 2022	$	195.6
Drawdowns	117.4
Repayments	(206.7)
Removed with sale of eOne film and TV (1)	(105.8)
Foreign exchange differences	(0.5)
Balance at December 31, 2023	$	—

Segment Reporting - Operating Profit (Loss) by Segments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss)	$ (1,538.8)	$ 407.7	$ 763.3
Interest expense	186.3	171.0	179.7
Interest income	(23.0)	(11.8)	(5.4)
Other non-operating expense (income)	7.0	(13.0)	7.1
Earnings (loss) before income taxes	(1,709.1)	261.5	581.9
Corporate and Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss)	(88.3)	(370.6)	(93.3)
Transformation office and consulting fees		24.7
Corporate and Other \| Operational Excellence Program
Segment Reporting, Revenue Reconciling Item [Line Items]
Transformation office and consulting fees	35.3
Consumer Products \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss)	(64.7)	217.3	401.4
Wizards of the Coast and Digital Gaming \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss)	525.7	538.3	547.0
Entertainment \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating profit (loss)	$ (1,911.5)	$ 22.7	$ (91.8)

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
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