0000046080-25-000069 | 10-Q | XBRL Viewer

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Revenue Recognition - Net Revenues by Category (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 30, 2025	Mar. 31, 2024
Revenue from External Customer [Line Items]
Net revenues	$ 887.1	$ 757.3
Wizards of the Coast and Digital Gaming
Revenue from External Customer [Line Items]
Net revenues	462.1	316.3
Entertainment
Revenue from External Customer [Line Items]
Net revenues	26.7	28.0
Tabletop Gaming \| Wizards of the Coast and Digital Gaming
Revenue from External Customer [Line Items]
Net revenues	343.8	228.2
Digital and Licensed Gaming \| Wizards of the Coast and Digital Gaming
Revenue from External Customer [Line Items]
Net revenues	118.3	88.1
Film and TV \| Entertainment
Revenue from External Customer [Line Items]
Net revenues	4.3	0.0
Family Brands \| Entertainment
Revenue from External Customer [Line Items]
Net revenues	$ 22.4	$ 28.0

- Definition

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

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+ Details

Derivative Financial Instruments

3 Months Ended

Mar. 30, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

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

Cash Flow Hedges

All of the Company's designated foreign currency forward contracts are considered to be cash flow hedges. These instruments hedge a portion of the Company's currency requirements associated with anticipated inventory purchases, product sales and other cross-border transactions, primarily for the remainder of 2025, and into 2026.

The notional amounts and fair values of the Company's foreign currency forward contracts designated as cash flow hedging instruments were as follows:


	March 30, 2025				March 31, 2024				December 29, 2024
Hedged transaction	Notional Amount		Fair Value		Notional Amount		Fair Value		Notional Amount		Fair Value
Inventory purchases	$	194.8	$	2.6	$	151.2	$	0.3	$	131.5	$	8.0
Sales	144.4		(1.2)		75.3		(0.2)		86.0		(1.4)
Other	29.1		0.6		30.7		(1.1)		22.8		0.9
Total	$	368.3	$	2.0	$	257.2	$	(1.0)	$	240.3	$	7.5

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 as follows:


	March 30, 2025		March 31, 2024		December 29, 2024
Prepaid expenses and other current assets
Unrealized gains	$	5.0	$	2.4	$	9.1
Unrealized losses	(1.3)		(0.8)		(1.1)
Net unrealized gains	$	3.7	$	1.6	$	8.0

Other assets
Unrealized gains	$	—	$	0.1	$	—

Net unrealized gains	$	—	$	0.1	$	—

Accrued liabilities
Unrealized gains	$	0.8	$	1.4	$	0.5
Unrealized losses	(1.4)		(4.1)		(1.0)
Net unrealized losses	$	(0.6)	$	(2.7)	$	(0.5)

Other liabilities
Unrealized gains	$	0.2	$	—	$	—
Unrealized losses	(1.3)		—		—
Net unrealized losses	$	(1.1)	$	—	$	—

Net gains (losses) on cash flow hedging activities have been reclassified from other comprehensive earnings (loss) to net earnings as follows:


	Three Months Ended
	March 30, 2025		March 31, 2024
Statements of Operations Classification
Cost of sales	$	1.1	$	0.1
Net revenues	(0.3)		(0.1)
Other	0.1		(0.1)
Net realized gains (losses)	$	0.9	$	(0.1)

Undesignated Hedges

The Company also enters into foreign currency forward contracts to minimize the impact of changes in the fair value of intercompany loans due to foreign currency changes. The Company does not use hedge accounting for these contracts as changes in the fair values of these contracts are substantially offset by changes in the fair value of the intercompany loans. As of March 30, 2025, March 31, 2024 and December 29, 2024, the total notional amounts of the Company's undesignated derivative instruments were $263.2 million, $328.6 million, and $289.6 million, respectively.

The fair values of the Company's undesignated derivative financial instruments were recorded in the Consolidated Balance Sheets as follows:


	March 30, 2025		March 31, 2024		December 29, 2024
Prepaid expenses and other current assets
Unrealized gains	$	1.7	$	7.0	$	1.9
Unrealized losses	(0.5)		(0.2)		(0.2)
Net unrealized gains	$	1.2	$	6.8	$	1.7

Accrued liabilities
Unrealized gains	$	—	$	—	$	—
Unrealized losses	(0.3)		(0.2)		(1.2)
Net unrealized losses	$	(0.3)	$	(0.2)	$	(1.2)

The Company recorded a net gain of $2.2 million and $9.1 million for three months ended March 30, 2025 and March 31, 2024, respectively, on these instruments to Other (income) expense, net relating to the change in fair value of such derivatives, substantially offsetting gains and losses from the change in fair value of intercompany loans to which the contracts relate.

For additional information related to the Company's derivative financial instruments (see Note 6, Other Comprehensive Earnings (Loss) and Note 11, Fair Value of Financial Instruments).

Segment Reporting - Other Supplemental Information by Segments Total Assets and Other Supplemental Information by Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 30, 2025	Mar. 31, 2024	Dec. 29, 2024
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 6,040.0	$ 6,203.0	$ 6,340.3
Depreciation and intangible asset amortization	34.2	38.3
Additions to property, plant and equipment	13.8	22.1
Operating Segments \| Wizards of the Coast and Digital Gaming
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	6,250.4	4,662.1	5,778.4
Depreciation and intangible asset amortization	4.6	4.3
Additions to property, plant and equipment	1.7	6.0
Operating Segments \| Consumer Products
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	7,845.7	6,599.9	7,785.2
Depreciation and intangible asset amortization	18.2	21.6
Additions to property, plant and equipment	11.3	11.4
Operating Segments \| Entertainment
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	2,819.8	2,901.5	2,857.8
Depreciation and intangible asset amortization	5.1	4.2
Additions to property, plant and equipment	0.0	0.0
Corporate and Other
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	(10,875.9)	(7,960.5)	$ (10,081.1)
Depreciation and intangible asset amortization	6.3	8.2
Additions to property, plant and equipment	$ 0.8	$ 4.7

- Definition

Amount of asset recognized for present right to economic benefit.

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+ Details

Long-Term Debt and Other Financing

3 Months Ended

Mar. 30, 2025

Debt Disclosure [Abstract]

Long-Term Debt and Other Financing

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


	March 30, 2025				March 31, 2024				December 29, 2024
	Carrying Cost		Fair Value		Carrying Cost		Fair Value		Carrying Cost		Fair Value
3.90% Notes Due 2029	$	900.0	$	853.8	$	900.0	$	835.3	$	900.0	$	845.6
3.55% Notes Due 2026	565.1		554.7		675.0		643.8		591.9		578.0
6.05% Notes Due 2034	500.0		512.6		—		—		500.0		502.2
6.35% Notes Due 2040	500.0		512.5		500.0		511.5		500.0		507.5
3.50% Notes Due 2027	476.4		462.5		500.0		470.7		500.0		481.5
5.10% Notes Due 2044	300.0		260.6		300.0		257.3		300.0		261.3
6.60% Debentures Due 2028	109.9		116.1		109.9		114.8		109.9		114.4
3.00% Notes Due 2024	—		—		500.0		491.0		—		—
Total long-term debt	$	3,351.4	$	3,272.8	$	3,484.9	$	3,324.4	$	3,401.8	$	3,290.5
Less: Deferred debt expenses	19.9		—		18.0		—		21.0		—
Less: Current portion	—		—		500.0		—		—		—
Long-term debt	$	3,331.5	$	3,272.8	$	2,966.9	$	3,324.4	$	3,380.8	$	3,290.5

For the three months ended March 30, 2025, the Company repurchased $50.4 million of its 2026 and 2027 Notes and recorded a gain on extinguishment of $1.2 million, which was recorded in Other expense (income), net in the Consolidated Statements of Operations.

Other Financing Arrangements

The Company's third amended and restated revolving credit facility with Bank of America, as administrative agent, swing line lender, a letter of credit issuer and a lender and certain other financial institutions as lenders thereto (the "Amended Revolving Credit Facility") provides the Company with commitments having a maximum aggregate principal amount of $1.25 billion, of which the Company has zero outstanding borrowings as of March 30, 2025. The Amended Revolving Credit Agreement contains certain financial covenants setting forth leverage and coverage requirements, and certain other limitations typical of an investment grade facility, including with respect to liens, mergers and incurrence of indebtedness. It also provides for a potential additional incremental commitment increase of up to $500.0 million subject to agreement of the lenders.

The Company also has a supplier finance program which provides participating suppliers the option of receiving payment in advance of an invoice due date, to be paid by certain administering banks, on the basis of invoices that the Company has confirmed as valid and approved. The Company’s obligation is to make payment in the invoice amount negotiated with participating suppliers, to the administering banks on the invoice due date. The Company’s suppliers are not required to participate in the supplier finance program. The early payment transactions between the Company’s supplier and the administering bank are subject to an agreement between those parties, and the Company does not participate in any financial aspect of the agreements between the Company’s suppliers and the administering banks. The Company has not pledged any assets to the administering bank under the supplier financing program. The Company or the administering bank may terminate the agreement upon at least 30 days’ written notice. The amount of obligations confirmed under the program that remain unpaid by the Company were $51.2 million, $47.7 million, and $66.2 million as of March 30, 2025, March 31, 2024, and December 29, 2024, respectively. These obligations are presented within Accounts payable in our Consolidated Balance Sheets. The activity related to this program is reflected within the operating activities section of the Consolidated Statements of Cash Flows.

- Definition

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

+ References

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+ Details

Restructuring Actions

3 Months Ended

Mar. 30, 2025

Restructuring and Related Activities [Abstract]

Restructuring Actions

Starting in 2022, the Company implemented its Operational Excellence program ("the Program"), an ongoing enterprise-wide initiative intended to improve our business through programs that include targeted cost-savings, supply chain transformation and certain other restructuring actions designed to drive growth and enhance shareholder value. The Company's organizational structure changes have resulted and will further result in workforce reductions as well as the reallocation of people and resources. The Company currently anticipates that these changes will be substantially complete over the next nine to twelve months.

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

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


	Three Months Ended
Operational Excellence	March 30, 2025		March 31, 2024
Balance at beginning of the year	$	46.9	$	81.2
Charges	1.8		5.7
Payments	(9.6)		(14.3)
Ending Balance	$	39.1	$	72.6

The following table presents the restructuring charges incurred to date under the Program, along with the estimated charges expected to be incurred on approved initiatives under the Program as of March 30, 2025:


Operational Excellence	Total
Charges incurred to date	$	156.3
Estimated charges to be incurred on approved initiatives	—
Total expected charges on approved initiatives	$	156.3

Additional Balance Sheet Information - Additional Information (Details) - USD ($) $ in Millions	Mar. 30, 2025	Dec. 29, 2024	Mar. 31, 2024
Other Assets [Line Items]
Prepaid expenses and other current assets include contract assets, current	$ 115.2	$ 179.5	$ 127.3
Other Noncurrent Assets
Other Assets [Line Items]
Deferred income tax assets	417.2	424.6	406.3
Unamortized software development costs	$ 291.0	$ 264.4	$ 178.0

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 30, 2025	Mar. 31, 2024
Loss Contingencies [Line Items]
Selling, distribution and administration	$ 269.6	$ 234.8
Revision of Prior Period, Error Correction, Adjustment
Loss Contingencies [Line Items]
Selling, distribution and administration	$ 31.1

- Definition

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

+ References + Details

Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Fair Value Hierarchy

The Company had the following assets and liabilities measured at fair value in its Consolidated Balance Sheets (excluding assets for which the fair value is measured using net asset value per share):


	Fair Value Measurements Using:
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
March 30, 2025
Assets:

Available-for-sale securities	$	10.7	$	10.7	$	—	$	—
Derivatives	5.0		—		5.0		—
Total assets	$	15.7	$	10.7	$	5.0	$	—

Liabilities:
Derivatives	$	2.1	$	—	$	2.1	$	—
Total liabilities	$	2.1	$	—	$	2.1	$	—

March 31, 2024
Assets:
Available-for-sale securities	$	0.8	$	0.8	$	—	$	—
Derivatives	8.5		—		8.5		—
Total assets	$	9.3	$	0.8	$	8.5	$	—

Liabilities:
Derivatives	$	2.9	$	—	$	2.9	$	—
Option agreement	1.7		—		—		1.7
Total liabilities	$	4.6	$	—	$	2.9	$	1.7

December 29, 2024
Assets:
Available-for-sale securities	$	0.6	$	0.6	$	—	$	—
Derivatives	9.7		—		9.7		—
Total assets	$	10.3	$	0.6	$	9.7	$	—

Liabilities:
Derivatives	$	1.7	$	—	$	1.7	$	—
Total Liabilities	$	1.7	$	—	$	1.7	$	—

Derivative Financial Instruments - Fair Values of Undesignated Derivative Financial Instruments (Details) - Foreign Exchange Forward - Not Designated as Hedging Instrument - USD ($) $ in Millions	Mar. 30, 2025	Dec. 29, 2024	Mar. 31, 2024
Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Unrealized gains	$ 1.7	$ 1.9	$ 7.0
Unrealized losses	(0.5)	(0.2)	(0.2)
Net unrealized gains (losses)	1.2	1.7	6.8
Accrued liabilities
Derivatives, Fair Value [Line Items]
Unrealized gains	0.0	0.0	0.0
Unrealized losses	(0.3)	(1.2)	(0.2)
Net unrealized gains (losses)	$ (0.3)	$ (1.2)	$ (0.2)

Revenue Recognition - Net Revenues by Geographic Regions (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 30, 2025	Mar. 31, 2024
Revenue from External Customer [Line Items]
Net revenues	$ 887.1	$ 757.3
Consumer Products \| Operating Segments
Revenue from External Customer [Line Items]
Net revenues	398.3	413.0
North America \| Consumer Products \| Operating Segments
Revenue from External Customer [Line Items]
Net revenues	231.4	239.1
Europe \| Consumer Products \| Operating Segments
Revenue from External Customer [Line Items]
Net revenues	85.0	87.5
Asia Pacific \| Consumer Products \| Operating Segments
Revenue from External Customer [Line Items]
Net revenues	53.8	48.8
Latin America \| Consumer Products \| Operating Segments
Revenue from External Customer [Line Items]
Net revenues	$ 28.1	$ 37.6

- Definition

+ References

+ Details

Revenue Recognition (Tables)

3 Months Ended

Mar. 30, 2025

Revenue from Contract with Customer [Abstract]

Schedule of Contract Assets and Liabilities

The opening and closing balances of contract assets and contract liabilities are as follows:


	March 30, 2025		March 31, 2024
Assets
Balance at beginning of the year	$	241.4	$	213.3
Ending Balance	$	227.1	$	219.6

Liabilities
Balance at beginning of the year	$	236.8	$	230.8
Ending Balance	$	202.6	$	231.6

Schedule of Activity in Allowance for Credit Losses

A summary of the activity in the allowance for credit losses are as follows:


	March 30, 2025		March 31, 2024
Balance at beginning of the year	$	25.8	$	12.7
Provisions/charges to income	14.6		0.3
Amounts charged off and other deductions	(2.9)		0.4
Foreign currency impact	0.2		(0.3)
Ending balance	$	37.7	$	13.1

Schedule of Net Revenues by Category

The following table represents consolidated Wizards of the Coast and Digital Gaming segment net revenues by category:


	Three Months Ended
	March 30, 2025		March 31, 2024
Tabletop Gaming	$	343.8	$	228.2
Digital and Licensed Gaming	118.3		88.1
Net revenues	$	462.1	$	316.3

The following table represents consolidated Entertainment segment net revenues by category:


	Three Months Ended
	March 30, 2025		March 31, 2024
Film and TV	$	4.3	$	—
Family Brands	22.4		28.0
Net revenues	$	26.7	$	28.0

The following table represents consolidated net revenues by brand portfolio:


	Three Months Ended
	March 30, 2025		March 31, 2024
Grow Brands	$	653.4	$	521.7
Optimize Brands	132.1		141.8
Reinvent Brands	101.6		93.8
Net revenues	$	887.1	$	757.3

Schedule of Net Revenues by Geographic Regions

The following table represents consolidated Consumer Products segment net revenues by major geographic region:


	Three Months Ended
	March 30, 2025		March 31, 2024
North America	$	231.4	$	239.1
Europe	85.0		87.5
Asia Pacific	53.8		48.8
Latin America	28.1		37.6
Net revenues	$	398.3	$	413.0

Earnings Per Common Share

3 Months Ended

Mar. 30, 2025

Earnings Per Share [Abstract]

Earnings Per Common Share

Net earnings per share data were computed as follows:


	Three Months Ended
	March 30, 2025		March 31, 2024
Net earnings attributable to Hasbro, Inc.	$	98.6	$	58.2

Average shares outstanding	139.8		139.1
Effect of dilutive securities:
Options and other share-based awards	1.2		0.2
Equivalent Shares	141.0		139.3

Net earnings attributable to Hasbro, Inc. per common share
Basic	$	0.71	$	0.42
Diluted	$	0.70	$	0.42

For the three months ended March 30, 2025 and March 31, 2024, options and restricted stock units totaling 0.9 million and 2.6 million, respectively, were excluded from the calculation of diluted earnings per share because to include them would have been anti-dilutive.

Derivative Financial Instruments - Additional Information (Details) - Foreign Exchange Forward - Fair Value Hedging - USD ($) $ in Millions	3 Months Ended
	Mar. 30, 2025	Mar. 31, 2024	Dec. 29, 2024
Derivative [Line Items]
Net gains on derivative	$ 2.2	$ 9.1
Not Designated as Hedging Instrument
Derivative [Line Items]
Notional amount	$ 263.2	$ 328.6	$ 289.6

Revenue Recognition - Net Revenues by Brand Portfolio (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 30, 2025	Mar. 31, 2024
Revenue from External Customer [Line Items]
Net revenues	$ 887.1	$ 757.3
Grow Brands
Revenue from External Customer [Line Items]
Net revenues	653.4	521.7
Optimize Brands
Revenue from External Customer [Line Items]
Net revenues	132.1	141.8
Reinvent Brands
Revenue from External Customer [Line Items]
Net revenues	$ 101.6	$ 93.8

- Definition

+ References

+ Details

Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 30, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Cash Flow Hedging Instruments

The notional amounts and fair values of the Company's foreign currency forward contracts designated as cash flow hedging instruments were as follows:


	March 30, 2025				March 31, 2024				December 29, 2024
Hedged transaction	Notional Amount		Fair Value		Notional Amount		Fair Value		Notional Amount		Fair Value
Inventory purchases	$	194.8	$	2.6	$	151.2	$	0.3	$	131.5	$	8.0
Sales	144.4		(1.2)		75.3		(0.2)		86.0		(1.4)
Other	29.1		0.6		30.7		(1.1)		22.8		0.9
Total	$	368.3	$	2.0	$	257.2	$	(1.0)	$	240.3	$	7.5

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 as follows:


	March 30, 2025		March 31, 2024		December 29, 2024
Prepaid expenses and other current assets
Unrealized gains	$	5.0	$	2.4	$	9.1
Unrealized losses	(1.3)		(0.8)		(1.1)
Net unrealized gains	$	3.7	$	1.6	$	8.0

Other assets
Unrealized gains	$	—	$	0.1	$	—

Net unrealized gains	$	—	$	0.1	$	—

Accrued liabilities
Unrealized gains	$	0.8	$	1.4	$	0.5
Unrealized losses	(1.4)		(4.1)		(1.0)
Net unrealized losses	$	(0.6)	$	(2.7)	$	(0.5)

Other liabilities
Unrealized gains	$	0.2	$	—	$	—
Unrealized losses	(1.3)		—		—
Net unrealized losses	$	(1.1)	$	—	$	—

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 as follows:


	Three Months Ended
	March 30, 2025		March 31, 2024
Statements of Operations Classification
Cost of sales	$	1.1	$	0.1
Net revenues	(0.3)		(0.1)
Other	0.1		(0.1)
Net realized gains (losses)	$	0.9	$	(0.1)

Schedule of Fair Values of Undesignated Derivative Financial Instruments

The fair values of the Company's undesignated derivative financial instruments were recorded in the Consolidated Balance Sheets as follows:


	March 30, 2025		March 31, 2024		December 29, 2024
Prepaid expenses and other current assets
Unrealized gains	$	1.7	$	7.0	$	1.9
Unrealized losses	(0.5)		(0.2)		(0.2)
Net unrealized gains	$	1.2	$	6.8	$	1.7

Accrued liabilities
Unrealized gains	$	—	$	—	$	—
Unrealized losses	(0.3)		(0.2)		(1.2)
Net unrealized losses	$	(0.3)	$	(0.2)	$	(1.2)

- 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

Derivative Financial Instruments - Net Gains (Losses) on Cash Flow Hedges Activities (Details) - Cash Flow Hedging - Foreign Exchange Forward - USD ($) $ in Millions	3 Months Ended
	Mar. 30, 2025	Mar. 31, 2024
Derivative Instruments, Gain (Loss) [Line Items]
Net realized gains (losses)	$ 0.9	$ (0.1)
Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Net realized gains (losses)	1.1	0.1
Net revenues
Derivative Instruments, Gain (Loss) [Line Items]
Net realized gains (losses)	(0.3)	(0.1)
Other
Derivative Instruments, Gain (Loss) [Line Items]
Net realized gains (losses)	$ 0.1	$ (0.1)

Long-Term Debt and Other Financing (Tables)

3 Months Ended

Mar. 30, 2025

Debt Disclosure [Abstract]

Schedule of Long-Term Borrowings

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


	March 30, 2025				March 31, 2024				December 29, 2024
	Carrying Cost		Fair Value		Carrying Cost		Fair Value		Carrying Cost		Fair Value
3.90% Notes Due 2029	$	900.0	$	853.8	$	900.0	$	835.3	$	900.0	$	845.6
3.55% Notes Due 2026	565.1		554.7		675.0		643.8		591.9		578.0
6.05% Notes Due 2034	500.0		512.6		—		—		500.0		502.2
6.35% Notes Due 2040	500.0		512.5		500.0		511.5		500.0		507.5
3.50% Notes Due 2027	476.4		462.5		500.0		470.7		500.0		481.5
5.10% Notes Due 2044	300.0		260.6		300.0		257.3		300.0		261.3
6.60% Debentures Due 2028	109.9		116.1		109.9		114.8		109.9		114.4
3.00% Notes Due 2024	—		—		500.0		491.0		—		—
Total long-term debt	$	3,351.4	$	3,272.8	$	3,484.9	$	3,324.4	$	3,401.8	$	3,290.5
Less: Deferred debt expenses	19.9		—		18.0		—		21.0		—
Less: Current portion	—		—		500.0		—		—		—
Long-term debt	$	3,331.5	$	3,272.8	$	2,966.9	$	3,324.4	$	3,380.8	$	3,290.5

- Definition

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

+ References

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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
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+ Details

Cover - shares	3 Months Ended
Cover - shares	Mar. 30, 2025	Apr. 24, 2025
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 30, 2025
Document Transition Report	false
Entity File Number	1-6682
Entity Registrant Name	HASBRO, INC.
Entity Incorporation, State or Country Code	RI
Entity Tax Identification Number	05-0155090
Entity Address, Address Line One	1027 Newport Avenue
Entity Address, City or Town	Pawtucket,
Entity Address, State or Province	RI
Entity Address, Postal Zip Code	02861
City Area Code	401
Local Phone Number	431-8697
Title of 12(b) Security	Common Stock, $0.50 par value per share
Trading Symbol	HAS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		140,129,383
Entity Central Index Key	0000046080
Current Fiscal Year End Date	--12-28
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Amendment Flag	false

Segment Reporting (Tables)

3 Months Ended

Mar. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Information by segment and a reconciliation to reported amounts for the three months ended March 30, 2025 are as follows:


	Wizards of the Coast and Digital Gaming		Consumer Products		Entertainment		Corporate and Other		Total
Revenues	$	505.8	$	433.4	$	38.0	$	28.9	$	1,006.1
Less: Intersegment revenue	43.7		35.1		11.3		28.9		119.0
Total net revenues	462.1		398.3		26.7		—		887.1
Cost of sales	73.8		129.8		1.1		(0.2)		204.5
Program cost amortization	—		—		7.4		—		7.4
Royalties	10.2		50.7		(8.4)		4.5		57.0
Advertising	26.3		30.6		0.1		(1.6)		55.4
Amortization of intangible assets	2.1		10.1		4.7		0.1		17.0
Distribution (1)	9.0		31.8		—		(0.7)		40.1
Managed expense (2)	110.7		189.2		33.0		2.1		335.0
Operating profit	$	230.0	$	(43.9)	$	(11.2)	$	(4.2)	$	170.7

Reconciliation to Earnings (loss) before income taxes:
Interest expense									41.6
Interest income									(8.9)
Other expense (income), net									1.4
Earnings before income taxes									$	136.6

(1) Distribution expenses consist of shipping and warehousing expense and is included in Selling, distribution and administration in the Consolidated Statement of Operations.

(2) Managed expenses consist of product development, selling and administrative expense, and loss on disposal of business. Product development is included in Product Development in the Consolidated Statement of Operations. Selling and administrative expense is included in Selling, distribution and administration in the Consolidated Statement of Operations. Loss on disposal of business is included in Loss on disposal of business in the Consolidated Statement of Operations. Managed expenses for the Entertainment segment included a $25.0 million non-cash loss associated with the sale of the eOne Film and TV business.

Information by segment and a reconciliation to reported amounts for the three months ended March 31, 2024 are as follows:


	Wizards of the Coast and Digital Gaming		Consumer Products		Entertainment		Corporate and Other		Total
Revenues	$	354.2	$	452.3	$	36.5	$	29.2	$	872.2
Less: Intersegment revenue	37.9		39.3		8.5		29.2		114.9
Total net revenues	316.3		413.0		28.0		—		757.3
Cost of sales	61.3		141.6		1.4		(0.1)		204.2
Program cost amortization	—		—		8.1		—		8.1
Royalties	10.5		48.3		(8.0)		0.1		50.9
Advertising	24.3		27.6		0.2		(0.6)		51.5
Amortization of intangible assets	2.1		11.1		3.8		—		17.0
Distribution (1)	6.7		33.6		—		0.1		40.4
Managed expense (2)	88.6		197.7		16.7		(34.0)		269.0
Operating profit	$	122.8	$	(46.9)	$	5.8	$	34.5	$	116.2

Reconciliation to Earnings (loss) before income taxes:
Interest expense									38.5
Interest income									(8.3)
Other expense (income), net									5.0
Earnings before income taxes									$	81.0

(1) Distribution expenses consist of shipping and warehousing expense and is included in Selling, distribution and administration in the Consolidated Statement of Operations.

(2) Managed expenses consist of product development, and selling and administrative expense. Product development is included in Product Development in the Consolidated Statement of Operations. Selling and administrative expense is included in Selling, distribution and administration in the Consolidated Statement of Operations.

Schedule of Total Assets and Other Supplemental Information by Segment

Total assets information by segments is as follows:


(In millions)	March 30, 2025		March 31, 2024		December 29, 2024
Total Assets
Wizards of the Coast and Digital Gaming	$	6,250.4	$	4,662.1	$	5,778.4
Consumer Products	7,845.7		6,599.9		7,785.2
Entertainment	2,819.8		2,901.5		2,857.8
Corporate and Other(1)	(10,875.9)		(7,960.5)		(10,081.1)
Total	$	6,040.0	$	6,203.0	$	6,340.3

(1) Corporate and Other consists of investments in subsidiary and intercompany receivables.

Other supplemental information by segments are as follows:


	Three Months Ended
(In millions)	March 30, 2025		March 31, 2024
Depreciation and intangible asset amortization(1)
Wizards of the Coast and Digital Gaming	$	4.6	$	4.3
Consumer Products	18.2		21.6
Entertainment	5.1		4.2
Corporate and Other	6.3		8.2
Total	$	34.2	$	38.3
Additions to property, plant and equipment
Wizards of the Coast and Digital Gaming	$	1.7	$	6.0
Consumer Products	11.3		11.4
Entertainment	—		—
Corporate and Other	0.8		4.7
Total	$	13.8	$	22.1

(1) The amounts of depreciation disclosed by reportable segments are included within cost of sales, distribution and managed expense. Intangible asset amortization is included within amortization of intangible assets.

Revenue Recognition

3 Months Ended

Mar. 30, 2025

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue is recognized when control of the promised goods, functional intellectual property or production is transferred to the customers or licensees, in an amount that reflects the consideration the Company expects to be entitled to in exchange for transferring those goods. The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance, and collectability of consideration is probable. The majority of the Company’s revenues are derived from sales of finished products to customers. See Note 1, Summary of Significant Accounting Policies, of the Company's 2024 Annual Report for the Company's revenue recognition accounting policy.

Contract Assets and Liabilities

In the ordinary course of business, the Company enters 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, location based entertainment, and for use within content for distribution over streaming platforms and for television and film. 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. 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 on the basis of the expected fixed consideration under the contract with the customer. The Company records contract assets, primarily related to (1) minimum guarantees being recognized in advance of contractual invoicing, which are recognized ratably over the terms of the respective license periods, and (2) film and television distribution revenues recorded for content delivered, where payment will occur over the license term. The current portion of contract assets is recorded in Prepaid expenses and other current assets and the long-term portion is recorded within Other long-term assets on the basis of expected receipt of cash per contractual terms.

The opening and closing balances of contract assets and contract liabilities are as follows:


	March 30, 2025		March 31, 2024
Assets
Balance at beginning of the year	$	241.4	$	213.3
Ending Balance	$	227.1	$	219.6

Liabilities
Balance at beginning of the year	$	236.8	$	230.8
Ending Balance	$	202.6	$	231.6

For the three months ended March 30, 2025, the Company recognized revenue of $134.7 million that was included in the December 29, 2024 contract liability balance. For the three months ended March 31, 2024, the Company recognized revenue of $22.1 million that was included in the December 31, 2023 contract liability balance.

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 March 30, 2025, unrecognized revenue attributable to unsatisfied performance obligations expected to be recognized in the future was $1.4 million. Of this amount, we expect to recognize $1.4 million in the remainder of 2025. This amount includes only fixed consideration.

Accounts Receivable and Allowance for Credit Losses

The Company’s balance for accounts receivable on the Consolidated Balance Sheets as of March 30, 2025 and March 31, 2024 are primarily from contracts with customers. A summary of the activity in the allowance for credit losses are as follows:


	March 30, 2025		March 31, 2024
Balance at beginning of the year	$	25.8	$	12.7
Provisions/charges to income	14.6		0.3
Amounts charged off and other deductions	(2.9)		0.4
Foreign currency impact	0.2		(0.3)
Ending balance	$	37.7	$	13.1

Disaggregation of revenues

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

The following table represents consolidated Wizards of the Coast and Digital Gaming segment net revenues by category:


	Three Months Ended
	March 30, 2025		March 31, 2024
Tabletop Gaming	$	343.8	$	228.2
Digital and Licensed Gaming	118.3		88.1
Net revenues	$	462.1	$	316.3

The following table represents consolidated Consumer Products segment net revenues by major geographic region:


	Three Months Ended
	March 30, 2025		March 31, 2024
North America	$	231.4	$	239.1
Europe	85.0		87.5
Asia Pacific	53.8		48.8
Latin America	28.1		37.6
Net revenues	$	398.3	$	413.0

The following table represents consolidated Entertainment segment net revenues by category:


	Three Months Ended
	March 30, 2025		March 31, 2024
Film and TV	$	4.3	$	—
Family Brands	22.4		28.0
Net revenues	$	26.7	$	28.0

The following table represents consolidated net revenues by brand portfolio:


	Three Months Ended
	March 30, 2025		March 31, 2024
Grow Brands	$	653.4	$	521.7
Optimize Brands	132.1		141.8
Reinvent Brands	101.6		93.8
Net revenues	$	887.1	$	757.3

- 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
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-Section 50
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-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
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-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
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-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
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-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
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-Section 50
-Paragraph 12
-Subparagraph (d)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
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-Paragraph 12
-Subparagraph (e)
-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
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-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

Sale of Non-Core Entertainment One Film and TV Business (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 30, 2025	Mar. 31, 2024	Dec. 27, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Period of satisfaction of the requirements under the agreement (in days)	30 days
Pre-tax non-cash loss on assets held for sale	$ 25.0	$ 9.1
eOne Film and TV \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate sales price			$ 375.0

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Mar. 30, 2025	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	27.10%	27.10%
Loss on disposal of business	$ 25.0	$ 9.1
Discrete income tax (benefit) expense	$ (0.3)	$ 1.8

Derivative Financial Instruments - Foreign Currency Forward Contracts Designated as Cash Flow Hedges (Details) - USD ($) $ in Millions	Mar. 30, 2025	Dec. 29, 2024	Mar. 31, 2024
Derivatives, Fair Value [Line Items]
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other current assets	Prepaid expenses and other current assets	Prepaid expenses and other current assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities	Accrued liabilities	Accrued liabilities
Designated as Hedging Instrument \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Unrealized gains	$ 5.0	$ 9.1	$ 2.4
Unrealized losses	(1.3)	(1.1)	(0.8)
Net unrealized gains (losses)	3.7	8.0	1.6
Designated as Hedging Instrument \| Other assets
Derivatives, Fair Value [Line Items]
Unrealized gains	0.0	0.0	0.1
Net unrealized gains (losses)	0.0	0.0	0.1
Designated as Hedging Instrument \| Accrued liabilities
Derivatives, Fair Value [Line Items]
Unrealized gains	0.8	0.5	1.4
Unrealized losses	(1.4)	(1.0)	(4.1)
Net unrealized gains (losses)	(0.6)	(0.5)	(2.7)
Designated as Hedging Instrument \| Other liabilities
Derivatives, Fair Value [Line Items]
Unrealized gains	0.2	0.0	0.0
Unrealized losses	(1.3)	0.0	0.0
Net unrealized gains (losses)	$ (1.1)	$ 0.0	$ 0.0

Other Comprehensive Earnings (Loss) (Tables)

3 Months Ended

Mar. 30, 2025

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

Schedule of Other Comprehensive Earnings (Loss), Tax Effect

The following table presents the related tax effects on changes in Other comprehensive earnings (loss):


	Three Months Ended
	March 30, 2025		March 31, 2024
Other comprehensive earnings (loss), tax effect:
Tax benefit (expense) on cash flow hedging activities	$	1.4	$	—
Reclassifications to earnings (loss), tax effect:
Tax benefit (expense) on cash flow hedging activities	0.2		(0.2)

Total tax effect on other comprehensive earnings (loss)	$	1.6	$	(0.2)

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

Changes in the components of Accumulated other comprehensive earnings (loss), net of tax are as follows:


	Pension and Postretirement Amounts		Gains (Losses) on Derivative Instruments		Unrealized Holding Gains (Losses) on Available- for-Sale Securities		Foreign Currency Translation Adjustments		Total Accumulated Other Comprehensive Loss
2025
Balance at December 29, 2024	$	(8.0)	$	(9.1)	$	(0.1)	$	(229.2)	$	(246.4)
Current period other comprehensive earnings (loss)	—		(3.4)		—		10.2		6.8
Balance at March 30, 2025	$	(8.0)	$	(12.5)	$	(0.1)	$	(219.0)	$	(239.6)

2024
Balance at December 31, 2023	$	(4.2)	$	(16.8)	$	(0.1)	$	(180.4)	$	(201.5)
Current period other comprehensive earnings (loss)	—		2.2		—		(4.0)		(1.8)
Balance at March 31, 2024	$	(4.2)	$	(14.6)	$	(0.1)	$	(184.4)	$	(203.3)

Restructuring Actions (Tables)

3 Months Ended

Mar. 30, 2025

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs


	Three Months Ended
Operational Excellence	March 30, 2025		March 31, 2024
Balance at beginning of the year	$	46.9	$	81.2
Charges	1.8		5.7
Payments	(9.6)		(14.3)
Ending Balance	$	39.1	$	72.6


Operational Excellence	Total
Charges incurred to date	$	156.3
Estimated charges to be incurred on approved initiatives	—
Total expected charges on approved initiatives	$	156.3

Revenue Recognition - Contract Assets and Liabilities (Details) - USD ($) $ in Millions	Mar. 30, 2025	Dec. 29, 2024	Mar. 31, 2024
Assets
Balance at beginning of the year	$ 241.4	$ 219.6	$ 213.3
Ending Balance	227.1	241.4	219.6
Liabilities
Balance at beginning of the year	236.8	231.6	230.8
Ending Balance	$ 202.6	$ 236.8	$ 231.6

Additional Balance Sheet Information (Tables)

3 Months Ended

Mar. 30, 2025

Payables and Accruals [Abstract]

Schedule of Components of Accrued Liabilities

Components of accrued liabilities were as follows:


	March 30, 2025		March 31, 2024		December 29, 2024
Contract liabilities - current	$	202.5	$	230.4	$	236.5
Accrued royalties expense	131.6		128.7		160.5
Accrued income taxes	100.5		59.0		93.3
Advertising	55.9		33.3		58.7
Other taxes	51.4		45.8		60.9
Lag & cancellation charges	42.9		112.0		48.9
Interest	42.5		38.1		31.3
Severance	40.4		75.7		50.2
General vendor accruals	34.2		34.9		46.1
Lease liability - current	28.8		29.1		29.8
Freight	24.0		17.0		27.0
Payroll and management incentives	22.4		21.9		121.1
Professional fees	16.0		10.0		18.2
Defined contributions plans	14.5		18.9		21.4
Insurance	11.8		14.6		11.3
Participations and residuals	10.3		33.7		8.8
Accrued expenses - productions	0.7		0.7		0.7
Dividends	—		97.4		—
Other	40.8		36.8		35.1
Total accrued liabilities	$	871.2	$	1,038.0	$	1,059.8

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 30, 2025	Dec. 29, 2024	Mar. 31, 2024
Statement of Financial Position [Abstract]
Restricted cash	$ 0.3	$ 0.3	$ 0.9
Property, plant and equipment, accumulated depreciation	1,047.6	1,026.7	1,036.4
Other intangibles, accumulated amortization	$ 439.8	$ 421.2	$ 1,314.7
Preference stock, par value (in dollars per share)	$ 2.50	$ 2.50	$ 2.50
Preference stock, authorized (in shares)	5,000,000	5,000,000	5,000,000
Preference stock, issued (in shares)	0	0	0
Common stock, par value (in dollars per share)	$ 0.50	$ 0.50	$ 0.50
Common stock, authorized (in shares)	600,000,000	600,000,000	600,000,000
Common stock, issued (in shares)	220,286,736	220,286,736	220,286,736
Treasury stock (in shares)	80,160,721	80,758,045	81,081,180

Long-Term Debt and Other Financing - Long-Term Borrowings (Details) - USD ($) $ in Millions	Mar. 30, 2025	Dec. 29, 2024	Mar. 31, 2024
Debt Instrument [Line Items]
Carrying Cost	$ 3,351.4	$ 3,401.8	$ 3,484.9
Less: Deferred debt expenses	19.9	21.0	18.0
Less: Current portion	0.0	0.0	500.0
Long-term debt, carrying cost	3,331.5	3,380.8	2,966.9
Fair Value	3,272.8	3,290.5	3,324.4
Long-term debt, fair value	$ 3,272.8	3,290.5	3,324.4
3.90% Notes Due 2029
Debt Instrument [Line Items]
Debt stated interest rate (as a percent)	3.90%
Carrying Cost	$ 900.0	900.0	900.0
Fair Value	$ 853.8	845.6	835.3
3.55% Notes Due 2026
Debt Instrument [Line Items]
Debt stated interest rate (as a percent)	3.55%
Carrying Cost	$ 565.1	591.9	675.0
Fair Value	$ 554.7	578.0	643.8
6.05% Notes Due 2034
Debt Instrument [Line Items]
Debt stated interest rate (as a percent)	6.05%
Carrying Cost	$ 500.0	500.0	0.0
Fair Value	$ 512.6	502.2	0.0
6.35% Notes Due 2040
Debt Instrument [Line Items]
Debt stated interest rate (as a percent)	6.35%
Carrying Cost	$ 500.0	500.0	500.0
Fair Value	$ 512.5	507.5	511.5
3.50% Notes Due 2027
Debt Instrument [Line Items]
Debt stated interest rate (as a percent)	3.50%
Carrying Cost	$ 476.4	500.0	500.0
Fair Value	$ 462.5	$ 481.5	470.7
5.10% Notes Due 2044
Debt Instrument [Line Items]
Debt stated interest rate (as a percent)	5.10%	5.10%
Carrying Cost	$ 300.0	$ 300.0	300.0
Fair Value	$ 260.6	261.3	257.3
6.60% Debentures Due 2028
Debt Instrument [Line Items]
Debt stated interest rate (as a percent)	6.60%
Carrying Cost	$ 109.9	109.9	109.9
Fair Value	$ 116.1	114.4	114.8
3.00% Notes Due 2024
Debt Instrument [Line Items]
Debt stated interest rate (as a percent)	3.00%
Carrying Cost	$ 0.0	0.0	500.0
Fair Value	$ 0.0	$ 0.0	$ 491.0

Goodwill

3 Months Ended

Mar. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Changes in the carrying amount of goodwill, by operating segment, are as follows:


	Wizards of the Coast and Digital Gaming		Consumer Products		Entertainment		Total
2025
Balance as of December 29, 2024	$	371.0	$	1,582.0	$	325.2	$	2,278.2
Foreign exchange translation	0.1		0.1		—		0.2
Balance as of March 30, 2025	$	371.1	$	1,582.1	$	325.2	$	2,278.4


	Wizards of the Coast and Digital Gaming		Consumer Products		Entertainment		Total
2024
Balance as of December 31, 2023	$	371.7	$	1,582.3	$	325.2	$	2,279.2
Foreign exchange translation	(0.2)		(0.1)		(0.1)		(0.4)
Balance as of March 31, 2024	$	371.5	$	1,582.2	$	325.1	$	2,278.8

Earnings Per Common Share - Net Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 30, 2025	Mar. 31, 2024
Earnings Per Share [Abstract]
Net earnings attributable to Hasbro, Inc.	$ 98.6	$ 58.2
Average shares outstanding, basic (in shares)	139.8	139.1
Options and other share-based awards (in shares)	1.2	0.2
Equivalent shares, diluted (in shares)	141.0	139.3
Net earnings attributable to Hasbro, Inc. per common share, basic (in dollars per share)	$ 0.71	$ 0.42
Net earnings attributable to Hasbro, Inc. per common share, diluted (in dollars per share)	$ 0.70	$ 0.42

- Definition

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

+ References

+ Details

- Definition

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

+ References

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- Definition

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

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+ Details

Additional Balance Sheet Information - Components of Accrued Liabilities (Details) - USD ($) $ in Millions	Mar. 30, 2025	Dec. 29, 2024	Mar. 31, 2024
Payables and Accruals [Abstract]
Contract liabilities - current	$ 202.5	$ 236.5	$ 230.4
Accrued royalties expense	131.6	160.5	128.7
Accrued income taxes	100.5	93.3	59.0
Advertising	55.9	58.7	33.3
Other taxes	51.4	60.9	45.8
Lag & cancellation charges	42.9	48.9	112.0
Interest	42.5	31.3	38.1
Severance	40.4	50.2	75.7
General vendor accruals	34.2	46.1	34.9
Lease liability - current	$ 28.8	$ 29.8	$ 29.1
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total accrued liabilities	Total accrued liabilities	Total accrued liabilities
Freight	$ 24.0	$ 27.0	$ 17.0
Payroll and management incentives	22.4	121.1	21.9
Professional fees	16.0	18.2	10.0
Defined contributions plans	14.5	21.4	18.9
Insurance	11.8	11.3	14.6
Participations and residuals	10.3	8.8	33.7
Accrued expenses - productions	0.7	0.7	0.7
Dividends	0.0	0.0	97.4
Other	40.8	35.1	36.8
Total accrued liabilities	$ 871.2	$ 1,059.8	$ 1,038.0

Segment Reporting

3 Months Ended

Mar. 30, 2025

Segment Reporting [Abstract]

Segment Reporting

The Company's reportable segments are strategic business units that offer different products and services. They are managed separately because the business requires different technology and marketing strategies. The Company's reportable segments are as follows:

•The Wizards of the Coast and Digital Gaming business engages in the promotion of the Company's brands through the development of trading card, role-playing and digital game experiences based on Hasbro and Wizards of the Coast games. Additionally, we license certain of our brands to other third-party digital game developers who transform Hasbro brand-based characters and other intellectual properties, into digital gaming experiences.

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

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

Segment performance is measured at the operating profit level. 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.

Information by segment and a reconciliation to reported amounts for the three months ended March 30, 2025 are as follows:


	Wizards of the Coast and Digital Gaming		Consumer Products		Entertainment		Corporate and Other		Total
Revenues	$	505.8	$	433.4	$	38.0	$	28.9	$	1,006.1
Less: Intersegment revenue	43.7		35.1		11.3		28.9		119.0
Total net revenues	462.1		398.3		26.7		—		887.1
Cost of sales	73.8		129.8		1.1		(0.2)		204.5
Program cost amortization	—		—		7.4		—		7.4
Royalties	10.2		50.7		(8.4)		4.5		57.0
Advertising	26.3		30.6		0.1		(1.6)		55.4
Amortization of intangible assets	2.1		10.1		4.7		0.1		17.0
Distribution (1)	9.0		31.8		—		(0.7)		40.1
Managed expense (2)	110.7		189.2		33.0		2.1		335.0
Operating profit	$	230.0	$	(43.9)	$	(11.2)	$	(4.2)	$	170.7

Reconciliation to Earnings (loss) before income taxes:
Interest expense									41.6
Interest income									(8.9)
Other expense (income), net									1.4
Earnings before income taxes									$	136.6

(1) Distribution expenses consist of shipping and warehousing expense and is included in Selling, distribution and administration in the Consolidated Statement of Operations.

Information by segment and a reconciliation to reported amounts for the three months ended March 31, 2024 are as follows:


	Wizards of the Coast and Digital Gaming		Consumer Products		Entertainment		Corporate and Other		Total
Revenues	$	354.2	$	452.3	$	36.5	$	29.2	$	872.2
Less: Intersegment revenue	37.9		39.3		8.5		29.2		114.9
Total net revenues	316.3		413.0		28.0		—		757.3
Cost of sales	61.3		141.6		1.4		(0.1)		204.2
Program cost amortization	—		—		8.1		—		8.1
Royalties	10.5		48.3		(8.0)		0.1		50.9
Advertising	24.3		27.6		0.2		(0.6)		51.5
Amortization of intangible assets	2.1		11.1		3.8		—		17.0
Distribution (1)	6.7		33.6		—		0.1		40.4
Managed expense (2)	88.6		197.7		16.7		(34.0)		269.0
Operating profit	$	122.8	$	(46.9)	$	5.8	$	34.5	$	116.2

Reconciliation to Earnings (loss) before income taxes:
Interest expense									38.5
Interest income									(8.3)
Other expense (income), net									5.0
Earnings before income taxes									$	81.0

(1) Distribution expenses consist of shipping and warehousing expense and is included in Selling, distribution and administration in the Consolidated Statement of Operations.

Total assets information by segments is as follows:


(In millions)	March 30, 2025		March 31, 2024		December 29, 2024
Total Assets
Wizards of the Coast and Digital Gaming	$	6,250.4	$	4,662.1	$	5,778.4
Consumer Products	7,845.7		6,599.9		7,785.2
Entertainment	2,819.8		2,901.5		2,857.8
Corporate and Other(1)	(10,875.9)		(7,960.5)		(10,081.1)
Total	$	6,040.0	$	6,203.0	$	6,340.3

(1) Corporate and Other consists of investments in subsidiary and intercompany receivables.

Other supplemental information by segments are as follows:


	Three Months Ended
(In millions)	March 30, 2025		March 31, 2024
Depreciation and intangible asset amortization(1)
Wizards of the Coast and Digital Gaming	$	4.6	$	4.3
Consumer Products	18.2		21.6
Entertainment	5.1		4.2
Corporate and Other	6.3		8.2
Total	$	34.2	$	38.3
Additions to property, plant and equipment
Wizards of the Coast and Digital Gaming	$	1.7	$	6.0
Consumer Products	11.3		11.4
Entertainment	—		—
Corporate and Other	0.8		4.7
Total	$	13.8	$	22.1

- Definition

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

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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Restructuring Actions - Additional Information (Details)	3 Months Ended
	Mar. 30, 2025
Restructuring Cost and Reserve [Line Items]
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, distribution and administration
Operational Excellence Program \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected positions eliminated, period (in months)	9 months
Operational Excellence Program \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected positions eliminated, period (in months)	12 months

- Definition

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

+ References + Details

Consolidated Statements of Comprehensive Earnings (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 30, 2025	Mar. 31, 2024
Statement of Comprehensive Income [Abstract]
Net earnings	$ 99.5	$ 59.1
Other comprehensive earnings (loss):
Foreign currency translation adjustments	10.2	(4.0)
Net (losses) gains on cash flow hedging activities, net of tax	(2.7)	1.8
Reclassifications to earnings, net of tax:
Net (losses) gains on cash flow hedging activities	(0.7)	0.4
Total other comprehensive earnings (loss), net of tax	6.8	(1.8)
Total comprehensive earnings attributable to noncontrolling interests	0.9	0.9
Total comprehensive earnings attributable to Hasbro, Inc.	$ 105.4	$ 56.4

Revenue Recognition - Accounts Receivable and Allowance for Credit Losses (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 30, 2025	Mar. 31, 2024
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of the year	$ 25.8	$ 12.7
Provisions/charges to income	14.6	0.3
Amounts charged off and other deductions	2.9	0.4
Foreign currency impact	0.2	(0.3)
Ending balance	$ 37.7	$ 13.1

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 30, 2025
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

Fair Value of Financial Instruments (Details) - Fair Value, Recurring - USD ($) $ in Millions	Mar. 30, 2025	Dec. 29, 2024	Mar. 31, 2024
Assets:
Available-for-sale securities	$ 10.7	$ 0.6	$ 0.8
Derivatives	5.0	9.7	8.5
Total assets	15.7	10.3	9.3
Liabilities:
Derivatives	2.1	1.7	2.9
Option agreement			1.7
Total liabilities	2.1	1.7	4.6
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Available-for-sale securities	10.7	0.6	0.8
Derivatives	0.0	0.0	0.0
Total assets	10.7	0.6	0.8
Liabilities:
Derivatives	0.0	0.0	0.0
Option agreement			0.0
Total liabilities	0.0	0.0	0.0
Significant Other Observable Inputs (Level 2)
Assets:
Available-for-sale securities	0.0	0.0	0.0
Derivatives	5.0	9.7	8.5
Total assets	5.0	9.7	8.5
Liabilities:
Derivatives	2.1	1.7	2.9
Option agreement			0.0
Total liabilities	2.1	1.7	2.9
Significant Unobservable Inputs (Level 3)
Assets:
Available-for-sale securities	0.0	0.0	0.0
Derivatives	0.0	0.0	0.0
Total assets	0.0	0.0	0.0
Liabilities:
Derivatives	0.0	0.0	0.0
Option agreement			1.7
Total liabilities	$ 0.0	$ 0.0	$ 1.7

Long-Term Debt and Other Financing - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 30, 2025	Dec. 29, 2024	Mar. 31, 2024
Debt Instrument [Line Items]
Supplier finance program, obligation	$ 51,200,000	$ 66,200,000	$ 47,700,000
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration]	Accounts payable	Accounts payable	Accounts payable
3.55% Notes Due 2026 \| Senior Notes
Debt Instrument [Line Items]
Amount of stock repurchased during period	$ 50,400,000
Gain on extinguishment	1,200,000
3.50% Notes Due 2027 \| Senior Notes
Debt Instrument [Line Items]
Amount of stock repurchased during period	50,400,000
Amended Revolving Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	1,250,000,000
Outstanding borrowings	0
Potential additional incremental commitment	$ 500,000,000.0

Sale of Non-Core Entertainment One Film and TV Business	3 Months Ended
Sale of Non-Core Entertainment One Film and TV Business	Mar. 30, 2025
Discontinued Operations and Disposal Groups [Abstract]
Sale of Non-Core Entertainment One Film and TV 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. The Company sold eOne Film and TV for a sales price of $375.0 million in cash, subject to the satisfaction of customary net working capital closing conditions and holdbacks for certain retained liabilities, plus the assumption by Lionsgate of production financing loans. The Equity Purchase Agreement also included a holdback amount that was paid to Lionsgate upon the execution of the sale but remained recoverable by Hasbro if certain terms were not satisfied by Lionsgate within 30 days of the first anniversary of the agreement. During the three months ended March 30, 2025, the Company was informed by Lionsgate of the satisfaction of the requirements under the agreement and the final holdback amount was settled, resulting in a $25.0 million expense recorded within Loss on disposal of business on the Consolidated Statements of Operations.

Restructuring Actions - Restructuring Charges (Details) - Operational Excellence Program $ in Millions	Mar. 30, 2025 USD ($)
Restructuring Cost and Reserve [Line Items]
Charges incurred to date	$ 156.3
Estimated charges to be incurred on approved initiatives	0.0
Total expected charges on approved initiatives	$ 156.3

- 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

Earnings Per Common Share (Tables)

3 Months Ended

Mar. 30, 2025

Earnings Per Share [Abstract]

Schedule of Net Earnings Per Share

Net earnings per share data were computed as follows:


	Three Months Ended
	March 30, 2025		March 31, 2024
Net earnings attributable to Hasbro, Inc.	$	98.6	$	58.2

Average shares outstanding	139.8		139.1
Effect of dilutive securities:
Options and other share-based awards	1.2		0.2
Equivalent Shares	141.0		139.3

Net earnings attributable to Hasbro, Inc. per common share
Basic	$	0.71	$	0.42
Diluted	$	0.70	$	0.42

Basis of Presentation (Policies)	3 Months Ended
Basis of Presentation (Policies)	Mar. 30, 2025
Accounting Policies [Abstract]
Basis of Presentation	In the opinion of management, the accompanying unaudited interim consolidated financial statements contain all normal and recurring adjustments necessary to present fairly the consolidated financial position of Hasbro, Inc. and all consolidated subsidiaries ("Hasbro" or the "Company") as of March 30, 2025, March 31, 2024, and December 29, 2024, and the results of its operations and cash flows and shareholders' equity for the periods ended March 30, 2025 and March 31, 2024 in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and condensed notes thereto. Actual results could differ from those estimates.
Recently Adopted Accounting Standards and Issued Accounting Pronouncements	Recently Adopted Accounting Standards During the three months ended March 30, 2025, there were no recently adopted accounting standards that had a material effect on the Company’s financial statements. Issued Accounting Pronouncements In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, Income Taxes (Topic 740): Improvements in Income Tax Disclosures. The amendments in this update enhance the transparency and decision usefulness of income tax disclosures. This amendment requires public companies to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. Additionally, under the amendment, entities are required to disclose the amount of income taxes paid disaggregated by federal, state and foreign taxes, as well as disaggregated by material individual jurisdictions. Finally, the amendment requires entities to disclose income from continuing operations before income tax expense disaggregated between domestic and foreign and income tax expense from continuing operations disaggregated by federal, state and foreign. The new rules are effective for annual periods beginning after December 15, 2024. We are currently assessing the impact of this ASU on our consolidated financial statement disclosures. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures. The new standard requires enhanced additional disclosures related to certain expense categories. The new standard is effective for fiscal years beginning after December 15, 2026. We are currently assessing the impact of this ASU on our consolidated financial statement disclosures. There were no other recently issued accounting pronouncements which would have a material effect on the Company’s condensed consolidated financial statements.
Revenue Recognition	Revenue is recognized when control of the promised goods, functional intellectual property or production is transferred to the customers or licensees, in an amount that reflects the consideration the Company expects to be entitled to in exchange for transferring those goods. The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance, and collectability of consideration is probable. The majority of the Company’s revenues are derived from sales of finished products to customers. See Note 1, Summary of Significant Accounting Policies, of the Company's 2024 Annual Report for the Company's revenue recognition accounting policy. Contract Assets and Liabilities In the ordinary course of business, the Company enters 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, location based entertainment, and for use within content for distribution over streaming platforms and for television and film. 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. 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 on the basis of the expected fixed consideration under the contract with the customer. The Company records contract assets, primarily related to (1) minimum guarantees being recognized in advance of contractual invoicing, which are recognized ratably over the terms of the respective license periods, and (2) film and television distribution revenues recorded for content delivered, where payment will occur over the license term. The current portion of contract assets is recorded in Prepaid expenses and other current assets and the long-term portion is recorded within Other long-term assets on the basis of expected receipt of cash per contractual terms. Disaggregation of revenues The Company disaggregates its revenues from contracts with customers by reportable segment: Wizards of the Coast and Digital Gaming, Consumer Products, and Entertainment. The Company further disaggregates revenues within its Wizards of the Coast and Digital Gaming segment by category: Tabletop Gaming and Digital and Licensed Gaming; within its Consumer Products segment by major geographic region: North America, Europe, Latin America, and Asia Pacific; and within its Entertainment segment by category: Film & TV, Family Brands, and Other. Finally, the Company disaggregates its revenues by brand portfolio into three brand categories: Grow Brands, Optimize Brands, and Reinvent Brands. We believe these collectively depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-17

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
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-Paragraph 19
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-19

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-20

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
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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

Segment Reporting - Segment Reporting Information, by Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 30, 2025	Mar. 31, 2024
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 1,006.1	$ 872.2
Less: Intersegment revenue	119.0	114.9
Total net revenues	887.1	757.3
Cost of sales	204.5	204.2
Program cost amortization	7.4	8.1
Royalties	57.0	50.9
Advertising	55.4	51.5
Amortization of intangible assets	17.0	17.0
Distribution	40.1	40.4
Managed expense	335.0	269.0
Operating profit	170.7	116.2
Reconciliation to Earnings (loss) before income taxes:
Interest expense	41.6	38.5
Interest income	(8.9)	(8.3)
Other expense (income), net	1.4	5.0
Earnings before income taxes	136.6	81.0
Loss on disposal of business	25.0	9.1
Corporate and Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	28.9	29.2
Less: Intersegment revenue	28.9	29.2
Total net revenues	0.0	0.0
Cost of sales	(0.2)	(0.1)
Program cost amortization	0.0	0.0
Royalties	4.5	0.1
Advertising	(1.6)	(0.6)
Amortization of intangible assets	0.1	0.0
Distribution	(0.7)	0.1
Managed expense	2.1	(34.0)
Operating profit	(4.2)	34.5
Wizards of the Coast and Digital Gaming
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net revenues	462.1	316.3
Wizards of the Coast and Digital Gaming \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	505.8	354.2
Less: Intersegment revenue	43.7	37.9
Total net revenues	462.1	316.3
Cost of sales	73.8	61.3
Program cost amortization	0.0	0.0
Royalties	10.2	10.5
Advertising	26.3	24.3
Amortization of intangible assets	2.1	2.1
Distribution	9.0	6.7
Managed expense	110.7	88.6
Operating profit	230.0	122.8
Consumer Products \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	433.4	452.3
Less: Intersegment revenue	35.1	39.3
Total net revenues	398.3	413.0
Cost of sales	129.8	141.6
Program cost amortization	0.0	0.0
Royalties	50.7	48.3
Advertising	30.6	27.6
Amortization of intangible assets	10.1	11.1
Distribution	31.8	33.6
Managed expense	189.2	197.7
Operating profit	(43.9)	(46.9)
Entertainment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net revenues	26.7	28.0
Entertainment \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	38.0	36.5
Less: Intersegment revenue	11.3	8.5
Total net revenues	26.7	28.0
Cost of sales	1.1	1.4
Program cost amortization	7.4	8.1
Royalties	(8.4)	(8.0)
Advertising	0.1	0.2
Amortization of intangible assets	4.7	3.8
Distribution	0.0	0.0
Managed expense	33.0	16.7
Operating profit	$ (11.2)	$ 5.8

Other Comprehensive Earnings (Loss)

3 Months Ended

Mar. 30, 2025

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

Other Comprehensive Earnings (Loss)

Components of Other comprehensive earnings (loss) are presented within the Consolidated Statements of Comprehensive Earnings (Loss). The following table presents the related tax effects on changes in Other comprehensive earnings (loss):


	Three Months Ended
	March 30, 2025		March 31, 2024
Other comprehensive earnings (loss), tax effect:
Tax benefit (expense) on cash flow hedging activities	$	1.4	$	—
Reclassifications to earnings (loss), tax effect:
Tax benefit (expense) on cash flow hedging activities	0.2		(0.2)

Total tax effect on other comprehensive earnings (loss)	$	1.6	$	(0.2)

Changes in the components of Accumulated other comprehensive earnings (loss), net of tax are as follows:


	Pension and Postretirement Amounts		Gains (Losses) on Derivative Instruments		Unrealized Holding Gains (Losses) on Available- for-Sale Securities		Foreign Currency Translation Adjustments		Total Accumulated Other Comprehensive Loss
2025
Balance at December 29, 2024	$	(8.0)	$	(9.1)	$	(0.1)	$	(229.2)	$	(246.4)
Current period other comprehensive earnings (loss)	—		(3.4)		—		10.2		6.8
Balance at March 30, 2025	$	(8.0)	$	(12.5)	$	(0.1)	$	(219.0)	$	(239.6)

2024
Balance at December 31, 2023	$	(4.2)	$	(16.8)	$	(0.1)	$	(180.4)	$	(201.5)
Current period other comprehensive earnings (loss)	—		2.2		—		(4.0)		(1.8)
Balance at March 31, 2024	$	(4.2)	$	(14.6)	$	(0.1)	$	(184.4)	$	(203.3)

Gains (Losses) on Derivative Instruments

At March 30, 2025, the Company had remaining deferred gains on foreign currency forward contracts, net of tax, of $0.8 million in Accumulated other comprehensive earnings (loss) ("AOCE"). These instruments hedge payments related to inventory purchased in the three months ended March 30, 2025 or forecasted to be purchased during the remainder of 2025, intercompany expenses expected to be paid or received during 2025 and cash receipts for sales made at the end of the first quarter of 2025 or forecasted to be made in the remainder of 2025. These amounts will be reclassified into the Consolidated Statements of Operations upon the sale of the related inventory or recognition of the related sales or expenses.

In addition to foreign currency forward contracts, the Company entered into hedging contracts on future interest payments related to the 5.10% Notes due 2044. At the date of debt issuance, these contracts were terminated and the fair value on the date of settlement was deferred in AOCE and is being amortized to interest expense over the life of the related Notes using the effective interest rate method. At March 30, 2025, deferred losses, net of tax of $13.3 million related to these instruments remained in AOCE. For each of the three months ended March 30, 2025 and March 31, 2024, previously deferred losses, net of tax, of $0.2 million related to these instruments were reclassified from AOCE to net earnings.

Of the amounts included in AOCE at March 30, 2025, the Company expects net gains of approximately $2.3 million to be reclassified to the Consolidated Statements of Operations within the next twelve months. However, the amount ultimately realized in earnings is dependent on the fair value of the hedging instruments on the settlement dates.

See Note 12, Derivative Financial Instruments, for additional discussion on reclassifications from AOCE to earnings.

Revenue Recognition - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 30, 2025 USD ($) brand_category	Mar. 31, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue recognized related to contract liability balance	$ (134.7)	$ (22.1)
Revenue, remaining performance obligation, amount	$ 1.4
Number of brand categories \| brand_category	3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-03-31
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 1.4
Revenue, remaining performance obligation, period	3 months

Other Comprehensive Earnings (Loss) - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 30, 2025	Mar. 31, 2024	Dec. 29, 2024
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive gain (loss)	$ (239.6)	$ (203.3)	$ (246.4)
Net gains expected to be reclassified within next 12 months	$ 2.3
5.10% Notes Due 2044
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Debt stated interest rate (as a percent)	5.10%		5.10%
Foreign Exchange Forward
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive gain (loss)	$ 0.8
Interest Rate Contract
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive gain (loss)	(13.3)
Interest Rate Contract \| Interest Expense
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Deferred losses reclassified from AOCE to net earnings	$ 0.2	$ 0.2

- Definition

Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source.

+ References + Details

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 30, 2025	Mar. 31, 2024
Cash flows from operating activities:
Net earnings	$ 99.5	$ 59.1
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation of property, plant and equipment	17.2	21.3
Loss on disposal of business	25.0	9.1
Amortization of intangible assets	17.0	17.0
Program cost amortization	7.4	8.1
Deferred income taxes	4.8	10.8
Inventory obsolescence	5.2	6.9
Stock-based compensation	18.4	(5.0)
Other non-cash items	7.9	8.7
Change in operating assets and liabilities:
Decrease in accounts receivable	258.7	388.3
Increase in inventories	(23.2)	(14.8)
Increase in prepaid expenses and other current assets	(25.3)	(36.4)
Program production costs	(2.8)	(9.3)
Decrease in accounts payable and accrued liabilities	(267.0)	(279.3)
Other	(4.7)	(6.7)
Net cash provided by operating activities	138.1	177.8
Cash flows from investing activities:
Additions to property, plant and equipment	(13.8)	(22.1)
Additions to software development	(29.4)	(23.7)
Purchases of investments	(10.0)	0.0
Other	0.8	(2.3)
Net cash utilized by investing activities	(52.4)	(48.1)
Cash flows from financing activities:
Repayments of borrowings	(49.2)	0.0
Dividends paid	(97.9)	(97.2)
Payments related to tax withholding for share-based compensation	(17.7)	(10.2)
Stock-based compensation transactions	3.8	0.2
Other	(1.4)	(1.7)
Net cash utilized by financing activities	(162.4)	(108.9)
Effect of exchange rate changes on cash	2.8	4.0
Net increase in cash, cash equivalents and restricted cash	(73.9)	24.8
Cash, cash equivalents and restricted cash at beginning of year	695.0	545.4
Cash, cash equivalents and restricted cash at end of period	621.1	570.2
Supplemental information
Interest paid	28.7	28.5
Income taxes paid, net	$ 26.7	$ 5.1

Fair Value of Financial Instruments

3 Months Ended

Mar. 30, 2025

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

The Company measures certain financial instruments at fair value. The fair value hierarchy consists of three levels:

•Level 1 fair values are based on quoted market prices in active markets for identical assets or liabilities that the entity has the ability to access;

•Level 2 fair values are those based on quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities;

•Level 3 fair values are based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The Company had the following assets and liabilities measured at fair value in its Consolidated Balance Sheets (excluding assets for which the fair value is measured using net asset value per share):


	Fair Value Measurements Using:
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
March 30, 2025
Assets:

Available-for-sale securities	$	10.7	$	10.7	$	—	$	—
Derivatives	5.0		—		5.0		—
Total assets	$	15.7	$	10.7	$	5.0	$	—

Liabilities:
Derivatives	$	2.1	$	—	$	2.1	$	—
Total liabilities	$	2.1	$	—	$	2.1	$	—

March 31, 2024
Assets:
Available-for-sale securities	$	0.8	$	0.8	$	—	$	—
Derivatives	8.5		—		8.5		—
Total assets	$	9.3	$	0.8	$	8.5	$	—

Liabilities:
Derivatives	$	2.9	$	—	$	2.9	$	—
Option agreement	1.7		—		—		1.7
Total liabilities	$	4.6	$	—	$	2.9	$	1.7

December 29, 2024
Assets:
Available-for-sale securities	$	0.6	$	0.6	$	—	$	—
Derivatives	9.7		—		9.7		—
Total assets	$	10.3	$	0.6	$	9.7	$	—

Liabilities:
Derivatives	$	1.7	$	—	$	1.7	$	—
Total Liabilities	$	1.7	$	—	$	1.7	$	—

The Company's derivatives primarily consist of foreign currency forward and option contracts. The Company uses current forward rates of the respective foreign currencies to measure the fair value of these contracts. There were no changes in these valuation techniques during the three months ended March 30, 2025. There were no material changes to fair value measurements of the Company's financial instruments which use significant unobservable inputs (Level 3) for three months ended March 31, 2024.

Other Fair Value Measurements

The Company's financial instruments include cash and cash equivalents, accounts receivable, short-term borrowings, accounts payable and certain Accrued liabilities. At March 30, 2025, March 31, 2024, and

December 29, 2024, the carrying cost of these instruments approximated their fair value. The Company's financial instruments at March 30, 2025, March 31, 2024, and December 29, 2024 also include certain assets and liabilities measured at fair value, as described above. See Note 8, Long-Term Debt and Other Financing, for the fair value of the Company's outstanding debt.

- Definition

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

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+ Details

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 30, 2025	Dec. 29, 2024	Mar. 31, 2024
Current assets
Cash and cash equivalents, including restricted cash of $0.3, $0.9 and $0.3	$ 621.1	$ 695.0	$ 570.2
Accounts receivable, net	656.6	919.8	632.5
Inventories	295.8	274.2	336.2
Prepaid expenses and other current assets	339.3	353.5	456.5
Total current assets	1,912.8	2,242.5	1,995.4
Property, plant and equipment, net of accumulated depreciation of $1,047.6, $1,036.4 and $1,026.7	293.6	302.6	323.3
Goodwill	2,278.4	2,278.2	2,278.8
Other intangible assets, net of accumulated amortization of $439.8, $1,314.7 and $421.2	503.1	518.4	569.7
Other	1,052.1	998.6	1,035.8
Total assets	6,040.0	6,340.3	6,203.0
Current liabilities
Current portion of long-term debt	0.0	0.0	500.0
Accounts payable	284.8	341.5	254.2
Accrued liabilities	871.2	1,059.8	1,038.0
Total current liabilities	1,156.0	1,401.3	1,792.2
Long-term debt	3,331.5	3,380.8	2,966.9
Other liabilities	355.0	373.2	414.0
Total liabilities	4,842.5	5,155.3	5,173.1
Commitments and contingencies (Note 14)
Shareholders' equity
Preference stock of $2.50 par value. Authorized 5,000,000 shares; none issued	0.0	0.0	0.0
Common stock of $0.50 par value. Authorized 600,000,000 shares; issued 220,286,736 shares at March 30, 2025, March 31, 2024, and December 29, 2024	110.1	110.1	110.1
Additional paid-in capital	2,631.9	2,632.2	2,569.9
Retained earnings	2,274.4	2,274.2	2,148.0
Accumulated other comprehensive loss	(239.6)	(246.4)	(203.3)
Treasury stock, at cost; 80,160,721 shares at March 30, 2025; 81,081,180 shares at March 31, 2024; and 80,758,045 shares at December 29, 2024	(3,606.9)	(3,612.5)	(3,618.8)
Noncontrolling interests	27.6	27.4	24.0
Total shareholders' equity	1,197.5	1,185.0	1,029.9
Total liabilities, noncontrolling interests and shareholders' equity	$ 6,040.0	$ 6,340.3	$ 6,203.0

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

3 Months Ended

Mar. 30, 2025

Other Industries [Abstract]

Schedule of Program Production Costs

The Company's unamortized investments in productions and investments in acquired content rights consisted of the following:


	March 30, 2025		March 31, 2024		December 29, 2024
Investment in Films and Television Programs:
Individual Monetization
Released, net of amortization	$	60.9	$	60.3	$	62.4
Completed and not released	10.8		—		—
In production	0.4		27.3		10.8
Pre-production	8.1		8.5		7.4
	80.2		96.1		80.6
Film/TV Group Monetization
Released, net of amortization	31.4		25.4		37.5
In production	—		24.3		—
	31.4		49.7		37.5
Investment in Other Programming
Released, net of amortization	7.0		13.7		6.0
In production	1.0		5.1		0.7
Pre-production	—		0.7		—
	8.0		19.5		6.7
Total Program Investments	$	119.6	$	165.3	$	124.8

Goodwill (Details) - USD ($) $ in Millions	3 Months Ended
Goodwill (Details) - USD ($) $ in Millions	Mar. 30, 2025	Mar. 31, 2024
Goodwill [Roll Forward]
Beginning balance	$ 2,278.2	$ 2,279.2
Foreign exchange translation	0.2	(0.4)
Ending balance	2,278.4	2,278.8
Wizards of the Coast and Digital Gaming
Goodwill [Roll Forward]
Beginning balance	371.0	371.7
Foreign exchange translation	0.1	(0.2)
Ending balance	371.1	371.5
Consumer Products
Goodwill [Roll Forward]
Beginning balance	1,582.0	1,582.3
Foreign exchange translation	0.1	(0.1)
Ending balance	1,582.1	1,582.2
Entertainment
Goodwill [Roll Forward]
Beginning balance	325.2	325.2
Foreign exchange translation	0.0	(0.1)
Ending balance	$ 325.2	$ 325.1

- Definition

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

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Consolidated Statements of Shareholders' Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock	Noncontrolling Interests
Beginning balance at Dec. 31, 2023	$ 1,087.0	$ 110.1	$ 2,590.6	$ 2,188.4	$ (201.5)	$ (3,625.7)	$ 25.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings attributable to Hasbro, Inc.	58.2			58.2
Net earnings attributable to noncontrolling interests	0.9						0.9
Other comprehensive gain (loss)	(1.8)				(1.8)
Stock-based compensation transactions	(10.0)		(16.9)			6.9
Stock-based compensation expense	(5.0)		(5.0)
Dividends declared	(97.4)		1.2	(98.6)
Distributions paid to noncontrolling owners and other foreign exchange	(2.0)						(2.0)
Ending balance at Mar. 31, 2024	1,029.9	110.1	2,569.9	2,148.0	(203.3)	(3,618.8)	24.0
Beginning balance at Dec. 29, 2024	1,185.0	110.1	2,632.2	2,274.2	(246.4)	(3,612.5)	27.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings attributable to Hasbro, Inc.	98.6			98.6
Net earnings attributable to noncontrolling interests	0.9						0.9
Other comprehensive gain (loss)	6.8				6.8
Stock-based compensation transactions	(13.7)		(19.3)			5.6
Stock-based compensation expense	18.4		18.4
Dividends declared	(97.8)		0.6	(98.4)
Distributions paid to noncontrolling owners and other foreign exchange	(0.7)						(0.7)
Ending balance at Mar. 30, 2025	$ 1,197.5	$ 110.1	$ 2,631.9	$ 2,274.4	$ (239.6)	$ (3,606.9)	$ 27.6

- Definition

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

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

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+ Details

Other Comprehensive Earnings (Loss) - Accumulated Other Comprehensive Earnings (Loss), Net of Tax (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 30, 2025	Mar. 31, 2024
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,185.0	$ 1,087.0
Current period other comprehensive earnings (loss)	6.8	(1.8)
Ending balance	1,197.5	1,029.9
Pension and Postretirement Amounts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(8.0)	(4.2)
Current period other comprehensive earnings (loss)	0.0	0.0
Ending balance	(8.0)	(4.2)
Gains (Losses) on Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(9.1)	(16.8)
Current period other comprehensive earnings (loss)	(3.4)	2.2
Ending balance	(12.5)	(14.6)
Unrealized Holding Gains (Losses) on Available- for-Sale Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(0.1)	(0.1)
Current period other comprehensive earnings (loss)	0.0	0.0
Ending balance	(0.1)	(0.1)
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(229.2)	(180.4)
Current period other comprehensive earnings (loss)	10.2	(4.0)
Ending balance	(219.0)	(184.4)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(246.4)	(201.5)
Current period other comprehensive earnings (loss)	6.8	(1.8)
Ending balance	$ (239.6)	$ (203.3)

- Definition

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

+ References

+ Details

- Definition

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

+ References

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+ Details

Basis of Presentation (Details) $ in Millions	3 Months Ended
Basis of Presentation (Details) $ in Millions	Mar. 31, 2024 USD ($)
Product Information [Line Items]
Software development costs are capitalized	$ 178.0
Revision of Prior Period, Error Correction, Adjustment \| Performance Shares
Product Information [Line Items]
Reversal of stock compensation expense	$ 18.1

Goodwill (Tables)

3 Months Ended

Mar. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Changes in the carrying amount of goodwill, by operating segment, are as follows:


	Wizards of the Coast and Digital Gaming		Consumer Products		Entertainment		Total
2025
Balance as of December 29, 2024	$	371.0	$	1,582.0	$	325.2	$	2,278.2
Foreign exchange translation	0.1		0.1		—		0.2
Balance as of March 30, 2025	$	371.1	$	1,582.1	$	325.2	$	2,278.4


	Wizards of the Coast and Digital Gaming		Consumer Products		Entertainment		Total
2024
Balance as of December 31, 2023	$	371.7	$	1,582.3	$	325.2	$	2,279.2
Foreign exchange translation	(0.2)		(0.1)		(0.1)		(0.4)
Balance as of March 31, 2024	$	371.5	$	1,582.2	$	325.1	$	2,278.8

- Definition

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

+ References

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+ Details

Income Taxes	3 Months Ended
Income Taxes	Mar. 30, 2025
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company and its subsidiaries file income tax returns in the United States and various state and international jurisdictions. In the normal course of business, the Company is regularly audited by U.S. federal, state and local, and international tax authorities in various tax jurisdictions. The effective tax rate ("ETR") was 27.1% for the three months ended March 30, 2025, and 27.1% for the three months ended March 31, 2024. The following items impacted the ETR for 2025 and 2024: •During the three months ended March 30, 2025 the Company recorded an unfavorable adjustment to the Loss on Sale of the Film and TV reporting unit of $25.0 million with no tax benefit. The Company also recorded a net discrete tax benefit of $0.3 million, primarily associated with stock-based compensation. •During the three months ended March 31, 2024 the Company recorded an unfavorable adjustment to the Loss on Sale of the Film and TV reporting unit of $9.1 million with no tax benefit. The Company also recorded a net discrete tax expense of $1.8 million, primarily associated with stock-based compensation.

- Definition

The entire disclosure for income tax.

+ References

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-Topic 740
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-Name Accounting Standards Codification
-Section 50
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-Section S99
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-Subparagraph (SX 210.4-08(h)(2))
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-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Investments in Productions and Investments in Acquired Content Rights

3 Months Ended

Mar. 30, 2025

Other Industries [Abstract]

Investment in Productions and Investments in Acquired Content Rights

Investments in Productions and Investments in Acquired Content Rights

Investments in productions and investments in acquired content rights are predominantly monetized on a title-by-title basis and are recorded within Other assets in the Company's Consolidated Balance Sheets to the extent they are considered recoverable against future revenues. These amounts are being amortized to program cost amortization using a model that reflects the consumption of the asset as it is released through various channels including broadcast licenses, theatrical release and home entertainment. Amounts capitalized are reviewed

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

The Company's unamortized investments in productions and investments in acquired content rights consisted of the following:


	March 30, 2025		March 31, 2024		December 29, 2024
Investment in Films and Television Programs:
Individual Monetization
Released, net of amortization	$	60.9	$	60.3	$	62.4
Completed and not released	10.8		—		—
In production	0.4		27.3		10.8
Pre-production	8.1		8.5		7.4
	80.2		96.1		80.6
Film/TV Group Monetization
Released, net of amortization	31.4		25.4		37.5
In production	—		24.3		—
	31.4		49.7		37.5
Investment in Other Programming
Released, net of amortization	7.0		13.7		6.0
In production	1.0		5.1		0.7
Pre-production	—		0.7		—
	8.0		19.5		6.7
Total Program Investments	$	119.6	$	165.3	$	124.8

The Company's program cost amortization, that related to investment in production that were released, during the three months ended March 30, 2025 and March 31, 2024, were $7.4 million and $8.1 million, respectively.

Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended
	Mar. 30, 2025	Mar. 31, 2024
Income Statement [Abstract]
Net revenues	$ 887.1	$ 757.3
Costs and expenses:
Cost of sales	204.5	204.2
Program cost amortization	7.4	8.1
Royalties	57.0	50.9
Product development	80.5	65.5
Advertising	55.4	51.5
Amortization of intangible assets	17.0	17.0
Loss on disposal of business	25.0	9.1
Selling, distribution and administration	269.6	234.8
Total costs and expenses	716.4	641.1
Operating profit	170.7	116.2
Non-operating expense (income):
Interest expense	41.6	38.5
Interest income	(8.9)	(8.3)
Other expense, net	1.4	5.0
Total non-operating expense, net	34.1	35.2
Earnings before income taxes	136.6	81.0
Income tax expense	37.1	21.9
Net earnings	99.5	59.1
Net earnings attributable to noncontrolling interests	0.9	0.9
Net earnings attributable to Hasbro, Inc.	$ 98.6	$ 58.2
Net earnings per common share:
Basic (in dollars per share)	$ 0.71	$ 0.42
Diluted (in dollars per share)	0.70	0.42
Cash dividends declared per common share (in dollars per share)	$ 0.70	$ 0.70

Earnings Per Common Share - Additional Information (Details) - shares shares in Millions	3 Months Ended
	Mar. 30, 2025	Mar. 31, 2024
Employee Stock Option and Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0.9	2.6

Investments in Productions and Investments in Acquired Content Rights - Program Production Costs (Details) - USD ($) $ in Millions	Mar. 30, 2025	Dec. 29, 2024	Mar. 31, 2024
Individual Monetization
Released, net of amortization	$ 60.9	$ 62.4	$ 60.3
Completed and not released	10.8	0.0	0.0
In production	0.4	10.8	27.3
Pre-production	8.1	7.4	8.5
Individual monetization, costs	80.2	80.6	96.1
Film/TV Group Monetization
Released, net of amortization	31.4	37.5	25.4
In production	0.0	0.0	24.3
Total film costs	31.4	37.5	49.7
Investment in Other Programming
Released, net of amortization	7.0	6.0	13.7
In production	1.0	0.7	5.1
Pre-production	0.0	0.0	0.7
Other programming costs	8.0	6.7	19.5
Total Program Investments	$ 119.6	$ 124.8	$ 165.3

Derivative Financial Instruments - Cash Flow Hedging Instruments (Details) - Designated as Hedging Instrument - Cash Flow Hedging - USD ($) $ in Millions	Mar. 30, 2025	Dec. 29, 2024	Mar. 31, 2024
Derivative [Line Items]
Notional Amount	$ 368.3	$ 240.3	$ 257.2
Fair Value	2.0	7.5	(1.0)
Inventory purchases
Derivative [Line Items]
Notional Amount	194.8	131.5	151.2
Fair Value	2.6	8.0	0.3
Sales
Derivative [Line Items]
Notional Amount	144.4	86.0	75.3
Fair Value	(1.2)	(1.4)	(0.2)
Other
Derivative [Line Items]
Notional Amount	29.1	22.8	30.7
Fair Value	$ 0.6	$ 0.9	$ (1.1)

Investments in Productions and Investments in Acquired Content Rights - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 30, 2025	Mar. 31, 2024
Other Industries [Abstract]
Program production cost amortization, investment in production	$ 7.4	$ 8.1

Restructuring Actions - Program Related Restructuring Action (Details) - Operational Excellence Program - USD ($) $ in Millions	3 Months Ended
	Mar. 30, 2025	Mar. 31, 2024
Restructuring Reserve [Roll Forward]
Balance at beginning of the year	$ 46.9	$ 81.2
Charges	1.8	5.7
Payments	(9.6)	(14.3)
Ending Balance	$ 39.1	$ 72.6

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 30, 2025
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation In the opinion of management, the accompanying unaudited interim consolidated financial statements contain all normal and recurring adjustments necessary to present fairly the consolidated financial position of Hasbro, Inc. and all consolidated subsidiaries ("Hasbro" or the "Company") as of March 30, 2025, March 31, 2024, and December 29, 2024, and the results of its operations and cash flows and shareholders' equity for the periods ended March 30, 2025 and March 31, 2024 in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and condensed notes thereto. Actual results could differ from those estimates. The three months ended March 30, 2025 and March 31, 2024 were 13-week periods. The results of operations for the three months ended March 30, 2025 are not necessarily indicative of results to be expected for the full year 2025, nor were those of the comparable 2024 periods representative of those actually experienced for the full year 2024. These consolidated financial statements have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). Certain information and disclosures normally included in the consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. The Company filed with the SEC audited consolidated financial statements for the fiscal year ended December 29, 2024 in the Company's Annual Report on Form 10-K for the year ended December 29, 2024 ("2024 Form 10-K"), which includes all such information and disclosures and, accordingly, should be read in conjunction with the financial information included herein. Certain amounts have been reclassified to conform to current year presentation. Other Adjustments During the three months ended March 31, 2024, the Company corrected prior period errors associated with an $18.1 million benefit related to the reversal of stock compensation expense for the Company's performance stock awards that should have been recorded during fiscal year 2023 (recorded in Selling, distribution and administration on the Consolidated Statements of Operations). The recording of this item was not considered to be material, individually or in the aggregate, to the Company's 2023 or 2024 consolidated financial statements. For the period ending March 31, 2024, the Company reclassified capitalized software developments costs of $178.0 million from Property, plant and equipment, net into Other long-term assets to conform with current year presentation. Significant Accounting Policies The Company's significant accounting policies are summarized in Note 1, Summary of Significant Accounting Policies, to the consolidated financial statements included in the Company's 2024 Form 10-K. Recently Adopted Accounting Standards During the three months ended March 30, 2025, there were no recently adopted accounting standards that had a material effect on the Company’s financial statements. Issued Accounting Pronouncements In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, Income Taxes (Topic 740): Improvements in Income Tax Disclosures. The amendments in this update enhance the transparency and decision usefulness of income tax disclosures. This amendment requires public companies to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. Additionally, under the amendment, entities are required to disclose the amount of income taxes paid disaggregated by federal, state and foreign taxes, as well as disaggregated by material individual jurisdictions. Finally, the amendment requires entities to disclose income from continuing operations before income tax expense disaggregated between domestic and foreign and income tax expense from continuing operations disaggregated by federal, state and foreign. The new rules are effective for annual periods beginning after December 15, 2024. We are currently assessing the impact of this ASU on our consolidated financial statement disclosures. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures. The new standard requires enhanced additional disclosures related to certain expense categories. The new standard is effective for fiscal years beginning after December 15, 2026. We are currently assessing the impact of this ASU on our consolidated financial statement disclosures. There were no other recently issued accounting pronouncements which would have a material effect on the Company’s condensed consolidated financial statements.

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Mar. 30, 2025	Mar. 31, 2024
Pay vs Performance Disclosure
Net earnings attributable to Hasbro, Inc.	$ 98.6	$ 58.2

- Definition

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

+ References

+ Details

Additional Balance Sheet Information

3 Months Ended

Mar. 30, 2025

Payables and Accruals [Abstract]

Additional Balance Sheet Information

Components of accrued liabilities were as follows:


	March 30, 2025		March 31, 2024		December 29, 2024
Contract liabilities - current	$	202.5	$	230.4	$	236.5
Accrued royalties expense	131.6		128.7		160.5
Accrued income taxes	100.5		59.0		93.3
Advertising	55.9		33.3		58.7
Other taxes	51.4		45.8		60.9
Lag & cancellation charges	42.9		112.0		48.9
Interest	42.5		38.1		31.3
Severance	40.4		75.7		50.2
General vendor accruals	34.2		34.9		46.1
Lease liability - current	28.8		29.1		29.8
Freight	24.0		17.0		27.0
Payroll and management incentives	22.4		21.9		121.1
Professional fees	16.0		10.0		18.2
Defined contributions plans	14.5		18.9		21.4
Insurance	11.8		14.6		11.3
Participations and residuals	10.3		33.7		8.8
Accrued expenses - productions	0.7		0.7		0.7
Dividends	—		97.4		—
Other	40.8		36.8		35.1
Total accrued liabilities	$	871.2	$	1,038.0	$	1,059.8

Prepaid expenses and other current assets include contract assets, current of $115.2 million, $127.3 million, and $179.5 million as of March 30, 2025, March 31, 2024, and December 29, 2024, respectively.

Other assets include deferred tax assets of $417.2 million, $406.3 million, and $424.6 million as of March 30, 2025, March 31, 2024, and December 29, 2024, respectively, and unamortized software development costs of $291.0 million, $178.0 million, and $264.4 million as of March 30, 2025, March 31, 2024, and December 29, 2024, respectively.

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 30, 2025
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Contingencies – The Company is subject to claims related to product and other commercial matters. In determining costs to accrue related to these items, the Company carefully analyzes cases and considers the likelihood of adverse judgments or outcomes, as well as the potential range of possible loss. The Company accrues for matters when losses are both probable and estimable. Any amounts accrued for these matters are monitored on an ongoing basis and are updated based on new developments or new information as it becomes available for each matter. Litigation and Other Claims – The Company from time to time may be subject to lawsuits and other claims related to product, commercial, employee, environmental and other matters in the normal course of business. In determining costs to accrue related to these items, the Company carefully analyzes cases and considers the likelihood of adverse judgments or outcomes, as well as the potential range of possible loss. The Company accrues for matters when losses are both probable and estimable. Any amounts accrued for these matters are monitored on an ongoing basis and are updated based on new developments or new information as it becomes available for each matter. Environmental Liabilities - The Company monitors for any estimated environmental contingencies related to its current physical locations and former owned or leased facilities in which it is responsible for environmental matters. The Company has estimated a $31.1 million environmental liability related to a previously owned manufacturing facility (environmental liability assumed as part of a historical acquisition), in which the Company is solely responsible for the mitigation and remediation activities. Contractual obligations and commercial commitments, as detailed in the Company's 2024 Form 10-K, did not materially change outside of certain payments made in the normal course of business, except as disclosed in Note 8, Long-Term Debt and Other Financing.

Other Comprehensive Earnings (Loss) - Changes in Other Comprehensive Earnings (Loss), Tax Effect (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 30, 2025	Mar. 31, 2024
Other comprehensive earnings (loss), tax effect:
Tax benefit (expense) on cash flow hedging activities	$ 1.4	$ 0.0
Reclassifications to earnings (loss), tax effect:
Tax benefit (expense) on cash flow hedging activities	0.2	(0.2)
Total tax effect on other comprehensive earnings (loss)	$ 1.6	$ (0.2)