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Goodwill - Goodwill (Details) - USD ($)	3 Months Ended		9 Months Ended
Goodwill - Goodwill (Details) - USD ($)	Sep. 28, 2025	Sep. 29, 2024	Sep. 28, 2025	Sep. 29, 2024
Goodwill [Roll Forward]
Beginning balance			$ 2,278,200,000	$ 2,279,200,000
Impairment of goodwill (Note 5)	$ 0	$ 0	(1,021,900,000)	0
Foreign exchange translation			200,000	(300,000)
Ending balance	1,256,500,000	2,278,900,000	1,256,500,000	2,278,900,000
Wizards of the Coast and Digital Gaming
Goodwill [Roll Forward]
Beginning balance			371,000,000.0	371,700,000
Impairment of goodwill (Note 5)			0
Foreign exchange translation			(700,000)	(200,000)
Ending balance	370,300,000	371,500,000	370,300,000	371,500,000
Consumer Products
Goodwill [Roll Forward]
Beginning balance			1,582,000,000	1,582,300,000
Impairment of goodwill (Note 5)			(1,021,900,000)
Foreign exchange translation			900,000	(100,000)
Ending balance	561,000,000.0	1,582,200,000	561,000,000.0	1,582,200,000
Entertainment
Goodwill [Roll Forward]
Beginning balance				325,200,000
Impairment of goodwill (Note 5)			0
Foreign exchange translation			0	0
Ending balance	$ 325,200,000	$ 325,200,000	$ 325,200,000	$ 325,200,000

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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-URI https://asc.fasb.org/1943274/2147479581/805-30-50-4

+ Details

- Definition

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

+ References + Details

Investments in Productions

9 Months Ended

Sep. 28, 2025

Other Industries [Abstract]

Investments in Productions

Investments in productions are predominantly monetized on a title-by-title basis and are recorded within Other assets in the Company's Consolidated Balance Sheet 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 consisted of the following:


	September 28, 2025		September 29, 2024		December 29, 2024
Investment in Films and Television Programs:
Individual Monetization
Released, net of amortization	$	60.7	$	73.7	$	62.4

In production	1.8		12.3		10.8
Pre-production	8.6		4.8		7.4
	71.1		90.8		80.6
Film/TV Group Monetization
Released, net of amortization	30.3		42.5		37.5



Investment in Other Programming
Released, net of amortization	7.6		5.0		6.0

In production	1.4		5.9		0.7
Pre-production	0.1		0.9		—
	9.1		11.8		6.7
Total Program Investments	$	110.5	$	145.1	$	124.8

The Company's program cost amortization that related to investments in production that were released during the three and nine months ended September 28, 2025 were $7.4 million and $21.0 million, respectively. The Company's program cost amortization that related to investments in production that were released during the three and nine months ended September 29, 2024 were $7.9 million and $24.5 million, respectively.

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 28, 2025	Dec. 29, 2024	Sep. 29, 2024
Current assets
Cash and cash equivalents, including restricted cash of $0.3, $0.3 and $0.3	$ 620.9	$ 695.0	$ 696.1
Short-term investments	0.0	0.0	489.3
Accounts receivable, net	995.2	919.8	1,069.2
Inventories	396.7	274.2	375.4
Prepaid expenses and other current assets	397.2	353.5	391.6
Total current assets	2,410.0	2,242.5	3,021.6
Property, plant and equipment, net of accumulated depreciation of $1,075.8, $1,100.8 and $1,026.7	243.0	302.6	331.6
Goodwill (Note 5)	1,256.5	2,278.2	2,278.9
Other intangible assets, net of accumulated amortization of $476.1, $1,350.5 and $421.2	470.9	518.4	539.5
Other assets	1,141.4	998.6	1,058.3
Total assets	5,521.8	6,340.3	7,229.9
Current liabilities
Current portion of long-term debt	0.0	0.0	500.0
Accounts payable	381.4	341.5	420.3
Accrued liabilities	1,032.2	1,059.8	1,132.5
Total current liabilities	1,413.6	1,401.3	2,052.8
Long-term debt	3,318.8	3,380.8	3,462.6
Other liabilities	355.6	373.2	404.8
Total liabilities	5,088.0	5,155.3	5,920.2
Commitments and contingencies (Note 14)
Shareholders' equity
Preference stock of $2.50 par value. Authorized 5,000,000 shares; none issued	0.0	0.0	0.0
Common stock of $0.50 par value. Authorized 600,000,000 shares; issued 220,286,736 shares at September 28, 2025, September 29, 2024, and December 29, 2024	110.1	110.1	110.1
Additional paid-in capital	2,670.4	2,632.2	2,609.5
Retained earnings	1,452.4	2,274.2	2,408.2
Accumulated other comprehensive loss	(222.4)	(246.4)	(227.8)
Treasury stock, at cost; 79,963,865 shares at September 28, 2025; 80,798,468 shares at September 29, 2024; and 80,758,045 shares at December 29, 2024	(3,604.1)	(3,612.5)	(3,612.8)
Noncontrolling interests	27.4	27.4	22.5
Total shareholders' equity	433.8	1,185.0	1,309.7
Total liabilities, noncontrolling interests and shareholders' equity	$ 5,521.8	$ 6,340.3	$ 7,229.9

Additional Balance Sheet Information - Components of Accrued Liabilities (Details) - USD ($) $ in Millions	Sep. 28, 2025	Dec. 29, 2024	Sep. 29, 2024
Payables and Accruals [Abstract]
Contract liabilities - current	$ 213.5	$ 236.5	$ 255.6
Accrued royalties expense	207.2	160.5	183.0
Payroll and management incentives	105.8	121.1	79.8
Advertising	97.6	58.7	70.0
Other taxes	57.5	60.9	60.5
Accrued income taxes	42.6	93.3	99.3
Interest	41.0	31.3	49.5
General vendor accruals	40.1	46.1	57.8
Freight	40.1	27.0	34.7
Lease liability - current	$ 27.5	$ 29.8	$ 32.2
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total accrued liabilities	Total accrued liabilities	Total accrued liabilities
Lag & cancellation charges	$ 26.9	$ 48.9	$ 51.2
Defined contributions plans	23.0	21.4	16.0
Severance	22.7	50.2	51.0
Professional fees	15.6	18.2	18.6
Participations and residuals	8.9	8.8	18.3
Insurance	8.2	11.3	12.3
Accrued expenses - productions	0.7	0.7	0.5
Other	53.3	35.1	42.2
Total accrued liabilities	$ 1,032.2	$ 1,059.8	$ 1,132.5

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 28, 2025	Dec. 29, 2024	Sep. 29, 2024
Statement of Financial Position [Abstract]
Cash and cash equivalents and restricted cash	$ 0.3	$ 0.3	$ 0.3
Property, plant and equipment, accumulated depreciation	1,075.8	1,026.7	1,100.8
Other intangibles, accumulated amortization	$ 476.1	$ 421.2	$ 1,350.5
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)	79,963,865	80,758,045	80,798,468

Derivative Financial Instruments - Cash Flow Hedging Instruments (Details) - Designated as Hedging Instrument - Cash Flow Hedging - USD ($) $ in Millions	Sep. 28, 2025	Dec. 29, 2024	Sep. 29, 2024
Derivative [Line Items]
Notional Amount	$ 367.2	$ 240.3	$ 295.7
Fair Value	(8.2)	7.5	(0.4)
Inventory purchases
Derivative [Line Items]
Notional Amount	208.7	131.5	164.7
Fair Value	(9.9)	8.0	1.3
Sales
Derivative [Line Items]
Notional Amount	106.7	86.0	104.6
Fair Value	2.4	(1.4)	(3.2)
Other
Derivative [Line Items]
Notional Amount	51.8	22.8	26.4
Fair Value	$ (0.7)	$ 0.9	$ 1.5

Other Comprehensive Earnings (Loss) (Tables)

9 Months Ended

Sep. 28, 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				Nine Months Ended
	September 28, 2025		September 29, 2024		September 28, 2025		September 29, 2024
Other comprehensive earnings (loss), tax effect:
Tax (expense) benefit on hedging activities	$	(0.4)	$	0.4	$	2.4	$	(0.8)
Reclassifications to earnings (loss), tax effect:
Tax expense (benefit) on hedging activities	—		—		0.3		(0.5)

Total tax effect on Other comprehensive earnings (loss)	$	(0.4)	$	0.4	$	2.7	$	(1.3)

Schedule of Accumulated Other Comprehensive Loss, Net of Tax

Changes in the components of Accumulated other comprehensive 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)	(0.1)		(12.5)		—		36.6		24.0
Balance at September 28, 2025	$	(8.1)	$	(21.6)	$	(0.1)	$	(192.6)	$	(222.4)

2024
Balance at December 31, 2023	$	(4.2)	$	(16.8)	$	(0.1)	$	(180.4)	$	(201.5)
Current period other comprehensive earnings (loss)	(0.1)		1.9		—		(28.1)		(26.3)
Balance at September 29, 2024	$	(4.3)	$	(14.9)	$	(0.1)	$	(208.5)	$	(227.8)

Derivative Financial Instruments - Foreign Currency Forward Contracts Designated as Cash Flow Hedges (Details) - Designated as Hedging Instrument - USD ($) $ in Millions	Sep. 28, 2025	Dec. 29, 2024	Sep. 29, 2024
Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Unrealized gains	$ 0.5	$ 9.1	$ 3.1
Unrealized losses	(0.2)	(1.1)	(0.2)
Net unrealized gains (losses)	$ 0.3	$ 8.0	$ 2.9
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
Other assets
Derivatives, Fair Value [Line Items]
Unrealized gains	$ 0.3	$ 0.0	$ 0.5
Unrealized losses	(0.2)	0.0	0.0
Net unrealized gains (losses)	0.1	0.0	0.5
Accrued liabilities
Derivatives, Fair Value [Line Items]
Unrealized gains	2.6	0.5	1.0
Unrealized losses	(8.7)	(1.0)	(4.0)
Net unrealized gains (losses)	$ (6.1)	$ (0.5)	$ (3.0)
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities	Accrued liabilities	Accrued liabilities
Other liabilities
Derivatives, Fair Value [Line Items]
Unrealized gains	$ 0.5	$ 0.0	$ 0.1
Unrealized losses	(3.0)	0.0	(1.0)
Net unrealized gains (losses)	$ (2.5)	$ 0.0	$ (0.9)

Restructuring Actions - Additional Information (Details) - Operational Excellence Program	9 Months Ended
	Sep. 28, 2025	Sep. 29, 2024
Restructuring Cost and Reserve [Line Items]
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, distribution and administration	Selling, distribution and administration
Minimum
Restructuring Cost and Reserve [Line Items]
Expected positions eliminated, period (in months)	6 months
Maximum
Restructuring Cost and Reserve [Line Items]
Expected positions eliminated, period (in months)	9 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

Basis of Presentation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Basis of Presentation (Details) - USD ($) $ in Millions	Sep. 28, 2025	Sep. 29, 2024	Sep. 28, 2025	Sep. 29, 2024	Dec. 29, 2024
Product Information [Line Items]
Selling, distribution and administration	$ 287.3	$ 299.3	$ 839.7	$ 852.6
Cost of sales	414.3	378.9	844.1	820.8
Other Noncurrent Assets
Product Information [Line Items]
Unamortized software development costs	$ 359.9	$ 232.6	359.9	232.6	$ 264.4
Revision of Prior Period, Error Correction, Adjustment
Product Information [Line Items]
Reversal of stock compensation expense				18.1
Selling, distribution and administration			$ 31.1	31.1
Cost of sales				26.7
Revision of Prior Period, Error Correction, Adjustment \| Performance Shares
Product Information [Line Items]
Reversal of stock compensation expense				$ 18.1

- Definition

The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities.

+ References + Details

- Definition

The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc.

+ References + Details

Investments in Productions - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2025	Sep. 29, 2024	Sep. 28, 2025	Sep. 29, 2024
Other Industries [Abstract]
Program production cost amortization, investment in production	$ 7.4	$ 7.9	$ 21.0	$ 24.5

Sale of Non-Core Entertainment One Film and TV Business (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2025	Sep. 29, 2024	Sep. 28, 2025	Sep. 29, 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	$ 0.0	$ 0.0	$ 25.0	$ 24.4
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

Sale of Non-Core Entertainment One Film and TV Business	9 Months Ended
Sale of Non-Core Entertainment One Film and TV Business	Sep. 28, 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 retained by 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 nine months ended September 28, 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. During the nine months ended September 29, 2024, the Company recorded $24.4 million expense in Loss on disposal of business on the Consolidated Statements of Operations associated with certain purchase price and related adjustments.

Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 28, 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:


	September 28, 2025				September 29, 2024				December 29, 2024
Hedged transaction	Notional Amount		Fair Value		Notional Amount		Fair Value		Notional Amount		Fair Value
Inventory purchases	$	208.7	$	(9.9)	$	164.7	$	1.3	$	131.5	$	8.0
Sales	106.7		2.4		104.6		(3.2)		86.0		(1.4)
Other	51.8		(0.7)		26.4		1.5		22.8		0.9
Total	$	367.2	$	(8.2)	$	295.7	$	(0.4)	$	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:


	September 28, 2025		September 29, 2024		December 29, 2024
Prepaid expenses and other current assets
Unrealized gains	$	0.5	$	3.1	$	9.1
Unrealized losses	(0.2)		(0.2)		(1.1)
Net unrealized gains	$	0.3	$	2.9	$	8.0

Other assets
Unrealized gains	$	0.3	$	0.5	$	—
Unrealized losses	(0.2)		—		—
Net unrealized gains	$	0.1	$	0.5	$	—

Accrued liabilities
Unrealized gains	$	2.6	$	1.0	$	0.5
Unrealized losses	(8.7)		(4.0)		(1.0)
Net unrealized losses	$	(6.1)	$	(3.0)	$	(0.5)

Other liabilities
Unrealized gains	$	0.5	$	0.1	$	—
Unrealized losses	(3.0)		(1.0)		—
Net unrealized losses	$	(2.5)	$	(0.9)	$	—

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

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


	Three Months Ended				Nine Months Ended
	September 28, 2025		September 29, 2024		September 28, 2025		September 29, 2024
Statements of Operations Classification
Cost of sales	$	(0.6)	$	(0.6)	$	1.2	$	(0.7)
Net revenues	0.4		0.8		0.3		1.4
Other	(0.3)		(0.3)		(0.3)		—
Net realized (losses) gains	$	(0.5)	$	(0.1)	$	1.2	$	0.7

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:


	September 28, 2025		September 29, 2024		December 29, 2024
Prepaid expenses and other current assets
Unrealized gains	$	1.2	$	—	$	1.9
Unrealized losses	(0.6)		—		(0.2)
Net unrealized gains	$	0.6	$	—	$	1.7

Accrued liabilities
Unrealized gains	$	—	$	0.2	$	—
Unrealized losses	—		(2.2)		(1.2)
Net unrealized losses	$	—	$	(2.0)	$	(1.2)

Derivative Financial Instruments

9 Months Ended

Sep. 28, 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:


	September 28, 2025				September 29, 2024				December 29, 2024
Hedged transaction	Notional Amount		Fair Value		Notional Amount		Fair Value		Notional Amount		Fair Value
Inventory purchases	$	208.7	$	(9.9)	$	164.7	$	1.3	$	131.5	$	8.0
Sales	106.7		2.4		104.6		(3.2)		86.0		(1.4)
Other	51.8		(0.7)		26.4		1.5		22.8		0.9
Total	$	367.2	$	(8.2)	$	295.7	$	(0.4)	$	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:


	September 28, 2025		September 29, 2024		December 29, 2024
Prepaid expenses and other current assets
Unrealized gains	$	0.5	$	3.1	$	9.1
Unrealized losses	(0.2)		(0.2)		(1.1)
Net unrealized gains	$	0.3	$	2.9	$	8.0

Other assets
Unrealized gains	$	0.3	$	0.5	$	—
Unrealized losses	(0.2)		—		—
Net unrealized gains	$	0.1	$	0.5	$	—

Accrued liabilities
Unrealized gains	$	2.6	$	1.0	$	0.5
Unrealized losses	(8.7)		(4.0)		(1.0)
Net unrealized losses	$	(6.1)	$	(3.0)	$	(0.5)

Other liabilities
Unrealized gains	$	0.5	$	0.1	$	—
Unrealized losses	(3.0)		(1.0)		—
Net unrealized losses	$	(2.5)	$	(0.9)	$	—

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


	Three Months Ended				Nine Months Ended
	September 28, 2025		September 29, 2024		September 28, 2025		September 29, 2024
Statements of Operations Classification
Cost of sales	$	(0.6)	$	(0.6)	$	1.2	$	(0.7)
Net revenues	0.4		0.8		0.3		1.4
Other	(0.3)		(0.3)		(0.3)		—
Net realized (losses) gains	$	(0.5)	$	(0.1)	$	1.2	$	0.7

Undesignated Hedges

The Company also enters into foreign currency forward contracts to minimize the impact of changes in the fair value of intercompany loans due to foreign currency changes. The Company does not use hedge accounting for these contracts as changes in the fair values of these contracts are substantially offset by changes in the fair value of the intercompany loans. As of September 28, 2025, September 29, 2024 and December 29, 2024, the total notional amounts of the Company's undesignated derivative instruments were $242.7 million, $267.4 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:


	September 28, 2025		September 29, 2024		December 29, 2024
Prepaid expenses and other current assets
Unrealized gains	$	1.2	$	—	$	1.9
Unrealized losses	(0.6)		—		(0.2)
Net unrealized gains	$	0.6	$	—	$	1.7

Accrued liabilities
Unrealized gains	$	—	$	0.2	$	—
Unrealized losses	—		(2.2)		(1.2)
Net unrealized losses	$	—	$	(2.0)	$	(1.2)

The Company recorded a net gain of $4.2 million and $13.4 million for three and nine months ended September 28, 2025, respectively, and a net gain of $4.5 million and $8.7 million for three and nine months ended September 29, 2024, respectively, on these instruments to Other expense (income), 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, to the consolidated financial statements).

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

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+ Details

Income Taxes	9 Months Ended
Income Taxes	Sep. 28, 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 23.4% and (39.8%) for the three and nine months ended September 28, 2025, respectively, and 23.1% and 24.1% for the three and nine months ended September 29, 2024, respectively. The following items impacted the ETR for 2025 and 2024: •During the three months ended September 28, 2025 the Company recorded a net discrete tax benefit of $5.7 million, primarily associated with the second quarter of 2025 non-cash impairment of goodwill. •During the three months ended September 29, 2024 the Company recorded a net discrete tax expense of $1.1 million, primarily associated with the interest accruals on uncertain tax positions. •During the nine months ended September 28, 2025 the Company recorded a non-cash goodwill impairment of $1,021.9 million within the Consumer Products segment with a tax benefit of $5.4 million and an unfavorable adjustment to the Loss on disposal of the eOne Film and TV business of $25.0 million with no tax benefit. The Company also recorded a net discrete tax benefit of $6.5 million, primarily associated with the release of a valuation allowance. •During the nine months ended September 29, 2024 the Company recorded unfavorable adjustments to the Loss on disposal of the eOne Film and TV business of $24.4 million with no tax benefit. The Company also recorded a net discrete tax expense of $1.8 million, primarily associated with stock-based compensation. On July 4, 2025, President Donald Trump signed into law the One Big Beautiful Bill Act ("OBBBA”). The OBBBA makes permanent key elements of the Tax Cuts and Jobs Act, including 100% bonus depreciation, domestic research cost expensing, and the business interest expense limitation. ASC Topic 740, Income Taxes, requires the effects of changes in tax rates and laws on deferred tax balances to be recognized in the period in which the legislation is enacted. While these changes did not have a significant impact to our annual effective tax rate, it is expected that our U.S. cash taxes will decrease in 2025 as a result of the legislation.

- Definition

The entire disclosure for income tax.

+ References

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

Long-Term Debt and Other Financing - Additional Information (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 28, 2025	Sep. 28, 2025	Dec. 29, 2024	Sep. 29, 2024
Debt Instrument [Line Items]
Supplier finance program, obligation	$ 100,100,000	$ 100,100,000	$ 66,200,000	$ 118,700,000
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration]	Accounts payable	Accounts payable	Accounts payable	Accounts payable
3.55% Notes Due 2026 \| Senior Notes
Debt Instrument [Line Items]
Amount of stock repurchased during period		$ 65,000,000.0
Gain on extinguishment	$ 100,000	1,500,000
3.50% Notes Due 2027 \| Senior Notes
Debt Instrument [Line Items]
Amount of stock repurchased during period		65,000,000.0
Amended Revolving Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	1,250,000,000	1,250,000,000
Outstanding borrowings	0	0
Potential additional incremental commitment	500,000,000.0	500,000,000.0
The Facility \| Line of Credit
Debt Instrument [Line Items]
Aggregate principal amount	$ 100,000,000	$ 100,000,000

Other Comprehensive Earnings (Loss) - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2025	Sep. 29, 2024	Sep. 28, 2025	Sep. 29, 2024	Dec. 29, 2024
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive gain (loss)	$ (222.4)	$ (227.8)	$ (222.4)	$ (227.8)	$ (246.4)
Net loss expected to be reclassified within next 12 months			$ 5.9
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)	$ 8.6		$ 8.6
Interest Rate Contract
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive gain (loss)	(13.0)		(13.0)
Interest Rate Contract \| Interest Expense
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Deferred losses reclassified from AOCE to net earnings	$ 0.2	$ 0.2	$ 0.6	$ 0.6

- Definition

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

+ References + Details

Segment Reporting - Segment Reporting Information, by Segment (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 28, 2025	Sep. 29, 2024	Sep. 28, 2025	Sep. 29, 2024
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 1,590,100,000	$ 1,471,100,000		$ 3,485,500,000
Total net revenues	1,387,500,000	1,281,300,000	$ 3,255,400,000	3,033,900,000
Cost of sales	414,300,000	378,900,000	844,100,000	820,800,000
Program cost amortization	7,400,000	7,900,000	21,000,000.0	24,500,000
Royalties	114,300,000	98,000,000.0	255,800,000	204,200,000
Advertising	108,300,000	101,900,000	227,300,000	213,800,000
Amortization of intangible assets	17,200,000	17,100,000	51,400,000	51,200,000
Distribution	55,000,000.0	58,700,000	140,300,000	145,700,000
Managed expense	329,900,000	316,900,000	2,001,900,000	943,500,000
Operating profit (loss)	341,100,000	301,900,000	(286,400,000)	630,200,000
Reconciliation to Earnings before income taxes:
Interest expense	40,800,000	46,200,000	123,000,000.0	127,700,000
Interest income	(6,300,000)	(14,700,000)	(20,600,000)	(36,000,000.0)
Other expense (income), net	1,400,000	(19,900,000)	(15,900,000)	(15,700,000)
Earnings (loss) before income taxes	305,200,000	290,300,000	(372,900,000)	554,200,000
Impairment of goodwill (Note 5)	0	0	1,021,900,000	0
Loss on disposal of business	0	0	25,000,000.0	24,400,000
Selling, distribution and administration	287,300,000	299,300,000	839,700,000	852,600,000
Revision of Prior Period, Error Correction, Adjustment
Segment Reporting, Revenue Reconciling Item [Line Items]
Cost of sales				26,700,000
Reconciliation to Earnings before income taxes:
Selling, distribution and administration			31,100,000	31,100,000
Reversal of stock compensation expense				18,100,000
Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues			3,729,900,000
Corporate and Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	60,600,000	51,000,000.0	130,600,000	114,400,000
Total net revenues	0	0	0	0
Cost of sales	400,000	(300,000)	200,000	(27,000,000.0)
Program cost amortization	0	0	0	0
Royalties	2,000,000.0	2,300,000	5,200,000	3,100,000
Advertising	100,000	300,000	(1,300,000)	1,800,000
Amortization of intangible assets	(500,000)	0	(400,000)	200,000
Distribution	200,000	900,000	400,000	900,000
Managed expense	(4,200,000)	6,900,000	14,800,000	21,300,000
Operating profit (loss)	2,000,000.0	(10,100,000)	(18,900,000)	(300,000)
Intersegment Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	202,600,000	189,800,000	474,500,000	451,600,000
Wizards of the Coast and Digital Gaming
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net revenues	572,000,000.0	404,000,000.0	1,556,500,000	1,172,300,000
Reconciliation to Earnings before income taxes:
Impairment of goodwill (Note 5)			0
Wizards of the Coast and Digital Gaming \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	631,300,000	450,000,000.0	1,708,200,000	1,292,200,000
Total net revenues	572,000,000.0	404,000,000.0		1,172,300,000
Cost of sales	99,400,000	72,000,000.0	251,400,000	201,100,000
Program cost amortization	0	0	0	0
Royalties	36,000,000.0	9,500,000	86,800,000	30,700,000
Advertising	43,400,000	22,200,000	96,500,000	66,700,000
Amortization of intangible assets	2,200,000	2,100,000	6,400,000	6,200,000
Distribution	13,500,000	9,300,000	33,500,000	23,700,000
Managed expense	126,000,000.0	107,700,000	358,600,000	292,800,000
Operating profit (loss)	251,500,000	181,200,000	723,300,000	551,100,000
Wizards of the Coast and Digital Gaming \| Intersegment Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	59,300,000	46,000,000.0	151,700,000	119,900,000
Consumer Products
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net revenues			1,637,600,000
Reconciliation to Earnings before income taxes:
Impairment of goodwill (Note 5)			1,021,900,000
Consumer Products \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	867,300,000	935,700,000	1,794,100,000	1,977,200,000
Total net revenues	796,900,000	860,100,000	1,637,600,000	1,797,600,000
Cost of sales	312,800,000	305,700,000	588,100,000	641,900,000
Program cost amortization	0	0	0	0
Royalties	87,100,000	101,900,000	194,500,000	211,300,000
Advertising	64,600,000	78,900,000	131,700,000	144,500,000
Amortization of intangible assets	10,800,000	11,200,000	31,100,000	33,400,000
Distribution	41,300,000	48,500,000	106,400,000	121,100,000
Managed expense	200,200,000	192,900,000	1,579,200,000	580,600,000
Operating profit (loss)	80,100,000	121,000,000.0	(993,400,000)	64,800,000
Consumer Products \| Intersegment Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	70,400,000	75,600,000	156,500,000	179,600,000
Entertainment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net revenues	18,600,000	17,200,000	61,300,000	64,000,000.0
Reconciliation to Earnings before income taxes:
Impairment of goodwill (Note 5)			0
Entertainment \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	30,900,000	34,400,000	97,000,000.0	101,700,000
Total net revenues	18,600,000	17,200,000		64,000,000.0
Cost of sales	1,700,000	1,500,000	4,400,000	4,800,000
Program cost amortization	7,400,000	7,900,000	21,000,000.0	24,500,000
Royalties	(10,800,000)	(15,700,000)	(30,700,000)	(40,900,000)
Advertising	200,000	500,000	400,000	800,000
Amortization of intangible assets	4,700,000	3,800,000	14,300,000	11,400,000
Distribution	0	0	0	0
Managed expense	7,900,000	9,400,000	49,300,000	48,800,000
Operating profit (loss)	7,500,000	9,800,000	2,600,000	14,600,000
Entertainment \| Intersegment Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 12,300,000	$ 17,200,000	$ 35,700,000	$ 37,700,000

Revenue Recognition - Additional Information (Details) $ in Millions	9 Months Ended
	Sep. 28, 2025 USD ($) brand_category	Sep. 29, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue recognized related to contract liability balance	$ 193.2	$ 53.1
Revenue, remaining performance obligation, amount	$ 989.4
Number of brand categories \| brand_category	3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-09-29
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 113.8
Revenue, remaining performance obligation, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 200.8
Revenue, remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 151.6
Revenue, remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 523.2
Revenue, remaining performance obligation, period	1 year

Earnings (Loss) Per Common Share - Net (Loss) Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 28, 2025	Jun. 29, 2025	Mar. 30, 2025	Sep. 29, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 28, 2025	Sep. 29, 2024
Earnings Per Share [Abstract]
Net earnings (loss) attributable to Hasbro, Inc.	$ 233.2	$ (855.8)	$ 98.6	$ 223.2	$ 138.5	$ 58.2	$ (524.0)	$ 419.9
Average shares outstanding, basic (in shares)	140.4			139.5			140.1	139.3
Options and other share-based awards (in shares)	1.8			1.0			0.0	0.7
Equivalent shares, diluted (in shares)	142.2			140.5			140.1	140.0
Net earnings (loss) attributable to Hasbro, Inc. per common share
Net earnings (loss) attributable to Hasbro, Inc. per common share, basic (in dollars per share)	$ 1.66			$ 1.60			$ (3.74)	$ 3.01
Net earnings (loss) attributable to Hasbro, Inc. per common share, diluted (in dollars per share)	$ 1.64			$ 1.59			$ (3.74)	$ 3.00

- Definition

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

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-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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Reference 32: http://www.xbrl.org/2003/role/disclosureRef
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Reference 33: http://www.xbrl.org/2003/role/disclosureRef
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Reference 35: http://www.xbrl.org/2003/role/disclosureRef
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Reference 36: http://www.xbrl.org/2003/role/disclosureRef
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Reference 37: http://www.xbrl.org/2003/role/disclosureRef
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Reference 38: http://www.xbrl.org/2003/role/disclosureRef
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Reference 39: http://www.xbrl.org/2003/role/disclosureRef
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Reference 41: http://www.xbrl.org/2003/role/disclosureRef
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Reference 42: http://www.xbrl.org/2003/role/disclosureRef
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Reference 44: http://www.xbrl.org/2003/role/disclosureRef
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Reference 45: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 46: http://www.xbrl.org/2003/role/disclosureRef
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Reference 47: http://www.xbrl.org/2003/role/disclosureRef
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Reference 48: http://www.xbrl.org/2003/role/disclosureRef
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Reference 49: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Revenue Recognition - Contract Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 28, 2025	Dec. 29, 2024	Sep. 29, 2024
Assets
Balance at beginning of the year	$ 241.4	$ 242.5	$ 213.3
Ending Balance	266.9	241.4	242.5
Liabilities
Balance at beginning of the year	236.8	256.9	230.8
Ending Balance	$ 213.5	$ 236.8	$ 256.9

Investments in Productions (Tables)

9 Months Ended

Sep. 28, 2025

Other Industries [Abstract]

Schedule of Program Production Costs

The Company's unamortized investments in productions consisted of the following:


	September 28, 2025		September 29, 2024		December 29, 2024
Investment in Films and Television Programs:
Individual Monetization
Released, net of amortization	$	60.7	$	73.7	$	62.4

In production	1.8		12.3		10.8
Pre-production	8.6		4.8		7.4
	71.1		90.8		80.6
Film/TV Group Monetization
Released, net of amortization	30.3		42.5		37.5



Investment in Other Programming
Released, net of amortization	7.6		5.0		6.0

In production	1.4		5.9		0.7
Pre-production	0.1		0.9		—
	9.1		11.8		6.7
Total Program Investments	$	110.5	$	145.1	$	124.8

Additional Balance Sheet Information - Additional Information (Details) - USD ($) $ in Millions	Sep. 28, 2025	Dec. 29, 2024	Sep. 29, 2024
Other Assets [Line Items]
Prepaid expenses and other current assets include contract assets, current	$ 129.8	$ 179.5	$ 173.6
Other Noncurrent Assets
Other Assets [Line Items]
Deferred income tax assets	376.5	424.6	407.1
Unamortized software development costs	$ 359.9	$ 264.4	$ 232.6

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 28, 2025	Sep. 29, 2024
Cash flows from operating activities:
Net (loss) earnings	$ (521.3)	$ 420.9
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation of property, plant and equipment	55.7	74.0
Loss on disposal of business	25.0	24.4
Impairment of goodwill (Note 5)	1,021.9	0.0
Amortization of intangible assets	51.4	51.2
Program cost amortization	21.0	24.5
Deferred income taxes	71.5	21.0
Inventory obsolescence	25.9	(1.6)
Stock-based compensation	55.5	28.8
Other non-cash items	9.2	(13.7)
Change in operating assets and liabilities:
Increase in accounts receivable	(74.1)	(49.7)
Increase in inventories	(135.6)	(43.9)
(Increase) decrease in prepaid expenses and other current assets	(76.1)	8.2
Program production costs	(7.2)	(20.7)
Increase in accounts payable and accrued liabilities	27.2	72.7
Change in net deemed repatriation tax	(57.4)	(45.9)
Other	(2.6)	37.4
Net cash provided by operating activities	490.0	587.6
Cash flows from investing activities:
Additions to property, plant and equipment	(49.6)	(67.9)
Additions to software development	(98.6)	(78.3)
Purchases of investments	(55.2)	(571.0)
Net settlement from sale of business	0.0	(12.0)
Proceeds from sale of investments	0.0	91.0
Other	11.6	2.8
Net cash utilized by investing activities	(191.8)	(635.4)
Cash flows from financing activities:
Proceeds from long-term debt	0.0	498.6
Repayments of borrowings	(63.5)	0.0
Dividends paid	(294.2)	(292.2)
Payments related to tax withholding for share-based compensation	(21.8)	(13.0)
Stock-based compensation transactions	8.9	7.6
Payments of financing costs	0.0	(5.3)
Other	(4.5)	(4.9)
Net cash (utilized) provided by financing activities	(375.1)	190.8
Effect of exchange rate changes on cash	2.8	7.7
Net (decrease) increase in cash, cash equivalents and restricted cash	(74.1)	150.7
Cash, cash equivalents and restricted cash at beginning of year	695.0	545.4
Cash, cash equivalents and restricted cash at end of period	620.9	696.1
Supplemental information
Interest paid	108.1	101.8
Income taxes paid, net	$ 175.6	$ 70.2

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 28, 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 September 28, 2025, September 29, 2024, and December 29, 2024, and the results of its operations and cash flows and shareholders' equity for the periods ended September 28, 2025 and September 29, 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 September 28, 2025 and September 29, 2024 were 13-week periods. The nine months ended September 28, 2025 and September 29, 2024 were 39-week periods. The results of operations for the three and nine months ended September 28, 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 U.S. 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 nine months ended September 29, 2024, the Company corrected prior period errors associated with an $18.1 million benefit related to the reversal of stock compensation expense for the Company's performance stock awards that should have been recorded during fiscal year 2023 (recorded in Selling, distribution and administration on the Consolidated Statements of Operations), a $31.1 million expense and associated liability related to historical environmental liabilities in accordance with Financial Accounting Standards Board ("FASB") Accounting Standard Codification ("ASC") Topic 410, Asset Retirement and Environmental Obligations (recorded in Selling, distribution and administration on the Consolidated Statements of Operations), and a $26.7 million benefit related to an over-accrual of vendor commitment liabilities (recorded in Cost of sales on the Consolidated Statements of Operations). The recording of these items was not considered to be material, individually or in the aggregate, to the Company's prior year consolidated financial statements. For the period ending September 29, 2024, the Company reclassified capitalized software development costs of $232.6 million from Property, plant and equipment, net into Other 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 and nine months ended September 28, 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 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 assessing the impact of this ASU and upon adoption expect that any impact would be limited to additional income tax disclosures in the footnotes to our consolidated financial statements. We expect to adopt the standard beginning with our 2025 Form 10-K. 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. In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other— Internal-Use Software (Subtopic 350-40). The amendments in this update remove all references to the previously existing software development project stages and require entities to start capitalizing software costs when management has authorized and committed funding to a software project and it is probable that the project will be completed with its intended functionality. The new standard is effective for fiscal years beginning after December 15, 2027. Early adoption is permitted and can be applied prospectively, retrospectively, or utilizing a modified transition approach. We are currently assessing the impact of this ASU on our consolidated financial statements. There were no other recently issued accounting pronouncements which would have a material effect on the Company’s condensed consolidated financial statements.

Additional Balance Sheet Information (Tables)

9 Months Ended

Sep. 28, 2025

Payables and Accruals [Abstract]

Schedule of Components of Accrued Liabilities

Components of accrued liabilities were as follows:


	September 28, 2025		September 29, 2024		December 29, 2024
Contract liabilities - current	$	213.5	$	255.6	$	236.5
Accrued royalties expense	207.2		183.0		160.5
Payroll and management incentives	105.8		79.8		121.1
Advertising	97.6		70.0		58.7
Other taxes	57.5		60.5		60.9
Accrued income taxes	42.6		99.3		93.3
Interest	41.0		49.5		31.3
General vendor accruals	40.1		57.8		46.1
Freight	40.1		34.7		27.0
Lease liability - current	27.5		32.2		29.8
Lag & cancellation charges	26.9		51.2		48.9
Defined contributions plans	23.0		16.0		21.4
Severance	22.7		51.0		50.2
Professional fees	15.6		18.6		18.2
Participations and residuals	8.9		18.3		8.8
Insurance	8.2		12.3		11.3
Accrued expenses - productions	0.7		0.5		0.7

Other	53.3		42.2		35.1
Total accrued liabilities	$	1,032.2	$	1,132.5	$	1,059.8

Restructuring Actions (Tables)

9 Months Ended

Sep. 28, 2025

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs

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


	Nine Months Ended
	September 28, 2025		September 29, 2024
Balance at beginning of the year	$	46.9	$	81.2
Charges	5.2		7.8
Payments	(29.4)		(40.1)
Ending Balance	$	22.7	$	48.9

The following table presents the restructuring charges incurred to date under the Program, along with the estimated charges expected to be incurred on approved initiatives under the Program as of September 28, 2025:


	Total
Charges incurred to date	$	159.7
Estimated charges to be incurred on approved initiatives	—
Total expected charges on approved initiatives	$	159.7

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 28, 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. Significant Not Yet Commenced Leases – During the three and nine months ended September 28, 2025, the Company entered into significant new leases that have not yet commenced with estimated aggregated future lease payments of approximately $207.3 million. These leases are expected to commence between the fourth quarter of 2025 through 2026, with initial lease terms ranging from 10 years to 12 years. 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 above and in Note 8, Long-Term Debt and Other Financing, to the consolidated financial statements.

Fair Value of Financial Instruments - Fair Value Hierarchy (Details) - USD ($) $ in Millions	Sep. 28, 2025	Dec. 29, 2024	Sep. 29, 2024
Assets:
Short-term investments	$ 0.0	$ 0.0	$ 489.3
Fair Value, Recurring
Assets:
Short-term investments			489.3
Available-for-sale securities	55.9	0.6	0.6
Derivatives	1.0	9.7	3.4
Total assets	56.9	10.3	493.3
Liabilities:
Derivatives	8.6	1.7	5.9
Option agreement			1.7
Total liabilities	8.6	1.7	7.6
Fair Value, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Short-term investments			489.3
Available-for-sale securities	55.9	0.6	0.6
Derivatives	0.0	0.0	0.0
Total assets	55.9	0.6	489.9
Liabilities:
Derivatives	0.0	0.0	0.0
Option agreement			0.0
Total liabilities	0.0	0.0	0.0
Fair Value, Recurring \| Significant Other Observable Inputs (Level 2)
Assets:
Short-term investments			0.0
Available-for-sale securities	0.0	0.0	0.0
Derivatives	1.0	9.7	3.4
Total assets	1.0	9.7	3.4
Liabilities:
Derivatives	8.6	1.7	5.9
Option agreement			0.0
Total liabilities	8.6	1.7	5.9
Fair Value, Recurring \| Significant Unobservable Inputs (Level 3)
Assets:
Short-term investments			0.0
Available-for-sale securities	0.0	0.0	0.0
Derivatives	0.0	0.0	0.0
Total assets	0.0	0.0	0.0
Liabilities:
Derivatives	0.0	0.0	0.0
Option agreement			1.7
Total liabilities	$ 0.0	$ 0.0	$ 1.7

Derivative Financial Instruments - Fair Values of Undesignated Derivative Financial Instruments (Details) - Foreign Exchange Forward - Not Designated as Hedging Instrument - USD ($) $ in Millions	Sep. 28, 2025	Dec. 29, 2024	Sep. 29, 2024
Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Unrealized gains	$ 1.2	$ 1.9	$ 0.0
Unrealized losses	(0.6)	(0.2)	0.0
Net unrealized gains (losses)	0.6	1.7	0.0
Accrued liabilities
Derivatives, Fair Value [Line Items]
Unrealized gains	0.0	0.0	0.2
Unrealized losses	0.0	(1.2)	(2.2)
Net unrealized gains (losses)	$ 0.0	$ (1.2)	$ (2.0)

- Definition

Fair value, before effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets elected not to be offset. Excludes assets not subject to a master netting arrangement.

+ References + Details

- Definition

Fair value, before effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities elected not to be offset. Excludes liabilities not subject to a master netting arrangement.

+ References + Details

Long-Term Debt and Other Financing

9 Months Ended

Sep. 28, 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:


	September 28, 2025				September 29, 2024				December 29, 2024
	Carrying Cost		Fair Value		Carrying Cost		Fair Value		Carrying Cost		Fair Value
3.90% Notes Due 2029	$	900.0	$	875.3	$	900.0	$	869.5	$	900.0	$	845.6
3.55% Notes Due 2026	551.9		547.0		675.0		662.4		591.9		578.0
6.05% Notes Due 2034	500.0		522.6		500.0		526.5		500.0		502.2
6.35% Notes Due 2040	500.0		521.9		500.0		536.5		500.0		507.5
3.50% Notes Due 2027	475.0		468.2		500.0		486.6		500.0		481.5
5.10% Notes Due 2044	300.0		265.5		300.0		279.7		300.0		261.3
6.60% Debentures Due 2028	109.9		116.7		109.9		117.5		109.9		114.4
3.00% Notes Due 2024	—		—		500.0		498.2		—		—
Total long-term debt	3,336.8		3,317.2		3,984.9		3,976.9		3,401.8		3,290.5
Less: Deferred debt expenses	18.0		—		22.3		—		21.0		—
Less: Current portion	—		—		500.0		—		—		—
Long-term debt	$	3,318.8	$	3,317.2	$	3,462.6	$	3,976.9	$	3,380.8	$	3,290.5

For the nine months ended September 28, 2025, the Company repurchased $65.0 million of its 2026 and 2027 Notes. For the three and nine months ended September 28, 2025, the Company recorded a gain on extinguishment of $0.1 million and $1.5 million, respectively, which were 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 September 28, 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 $100.1 million, $118.7 million, and $66.2 million as of September 28, 2025, September 29, 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.

In June 2025, the Company entered into an uncommitted money market line of credit agreement (the “Money Market Credit Facility”) to provide the Company with access to short-term cash advances with an aggregate principal amount of up to $100.0 million. The Money Market Credit Facility is intended to support the Company’s short-term liquidity needs, including working capital and general corporate purposes.

Under the terms of the Money Market Credit Facility, each loan borrowing is subject to the lender’s sole and absolute discretion with no obligation to fund and bears interest at a variable rate agreed upon at the time of each borrowing.

The Money Market Credit Facility has no commitment fee or termination fee. Each advance under the Money Market Credit Facility has a maturity date of less than 90 days from the borrowing date, and the Company may voluntarily prepay any outstanding advances without premium or penalty, subject to reimbursement of actual breakage costs, if any. The Money Market Credit Facility may be terminated by the lender at any time upon written notice and is subject to customary representations, warranties, and covenants. There was no outstanding balance as of September 28, 2025.

- 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.

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+ Details

Revenue Recognition (Tables)

9 Months Ended

Sep. 28, 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:


	September 28, 2025		September 29, 2024
Assets
Balance at beginning of the year	$	241.4	$	213.3
Ending Balance	$	266.9	$	242.5

Liabilities
Balance at beginning of the year	$	236.8	$	230.8
Ending Balance	$	213.5	$	256.9

Schedule of Activity in Allowance for Credit Losses

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


	September 28, 2025		September 29, 2024
Balance at beginning of the year	$	25.8	$	12.7
Provisions/charges to income	29.7		4.6
Amounts charged off and other	(2.6)		(0.5)
Foreign currency impact	0.8		(0.6)
Ending balance	$	53.7	$	16.2

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				Nine Months Ended
	September 28, 2025		September 29, 2024		September 28, 2025		September 29, 2024
Tabletop Gaming	$	441.8	$	296.8	$	1,191.9	$	832.6
Digital and Licensed Gaming	130.2		107.2		364.6		339.7
Net revenues	$	572.0	$	404.0	$	1,556.5	$	1,172.3

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


	Three Months Ended				Nine Months Ended
	September 28, 2025		September 29, 2024		September 28, 2025		September 29, 2024
Film and TV	$	1.9	$	1.6	$	7.7	$	3.4
Family Brands	16.7		15.6		53.6		60.6
Net revenues	$	18.6	$	17.2	$	61.3	$	64.0

The following table represents consolidated net revenues by brand portfolio:


	Three Months Ended				Nine Months Ended
	September 28, 2025		September 29, 2024		September 28, 2025		September 29, 2024
Grow Brands	$	1,006.0	$	839.0	$	2,391.6	$	2,065.0
Optimize Brands	221.9		223.2		509.5		530.0
Reinvent Brands	159.6		219.1		354.3		438.9
Net revenues	$	1,387.5	$	1,281.3	$	3,255.4	$	3,033.9

Schedule of Net Revenues by Geographic Regions

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


	Three Months Ended				Nine Months Ended
	September 28, 2025		September 29, 2024		September 28, 2025		September 29, 2024
North America	$	483.0	$	526.8	$	950.4	$	1,072.0
Europe	181.1		162.3		361.8		341.8
Asia Pacific	61.2		81.9		178.6		193.3
Latin America	71.6		89.1		146.8		190.5
Net revenues	$	796.9	$	860.1	$	1,637.6	$	1,797.6

Revenue Recognition - Net Revenues by Brand Portfolio (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2025	Sep. 29, 2024	Sep. 28, 2025	Sep. 29, 2024
Revenue from External Customer [Line Items]
Net revenues	$ 1,387.5	$ 1,281.3	$ 3,255.4	$ 3,033.9
Grow Brands
Revenue from External Customer [Line Items]
Net revenues	1,006.0	839.0	2,391.6	2,065.0
Optimize Brands
Revenue from External Customer [Line Items]
Net revenues	221.9	223.2	509.5	530.0
Reinvent Brands
Revenue from External Customer [Line Items]
Net revenues	$ 159.6	$ 219.1	$ 354.3	$ 438.9

- Definition

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

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+ Details

Earnings (Loss) Per Common Share (Tables)

9 Months Ended

Sep. 28, 2025

Earnings Per Share [Abstract]

Schedule of Net Earnings (Loss) Per Share

Net earnings (loss) per share data were computed as follows:


	Three Months Ended				Nine Months Ended
	September 28, 2025		September 29, 2024		September 28, 2025		September 29, 2024
Net earnings (loss) attributable to Hasbro, Inc.	$	233.2	$	223.2	$	(524.0)	$	419.9

Average shares outstanding	140.4		139.5		140.1		139.3
Effect of dilutive securities:
Options and other share-based awards	1.8		1.0		—		0.7
Equivalent Shares	142.2		140.5		140.1		140.0

Net earnings (loss) attributable to Hasbro, Inc. per common share
Basic	$	1.66	$	1.60	$	(3.74)	$	3.01
Diluted	$	1.64	$	1.59	$	(3.74)	$	3.00

Restructuring Actions - Program Related Restructuring Action (Details) - Operational Excellence Program - USD ($) $ in Millions	9 Months Ended
	Sep. 28, 2025	Sep. 29, 2024
Restructuring Reserve [Roll Forward]
Balance at beginning of the year	$ 46.9	$ 81.2
Charges	5.2	7.8
Payments	(29.4)	(40.1)
Ending Balance	$ 22.7	$ 48.9

- Definition

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References + Details

Goodwill - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
Goodwill - Additional Information (Details) - USD ($)	Sep. 28, 2025	Sep. 29, 2024	Sep. 28, 2025	Sep. 29, 2024	Dec. 29, 2024	Dec. 31, 2023
Goodwill [Line Items]
Impairment of goodwill (Note 5)	$ 0	$ 0	$ 1,021,900,000	$ 0
Goodwill (Note 5)	1,256,500,000	2,278,900,000	1,256,500,000	2,278,900,000	$ 2,278,200,000	$ 2,279,200,000
Entertainment
Goodwill [Line Items]
Impairment of goodwill (Note 5)			0
Goodwill (Note 5)	$ 325,200,000	$ 325,200,000	$ 325,200,000	$ 325,200,000		$ 325,200,000
Percentage exceeding carrying amount	15.00%		15.00%
Discount rate	9.50%		9.50%
Terminal value revenue growth rate	3.00%		3.00%

+ References + Details

- 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

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+ Details

Long-Term Debt and Other Financing (Tables)

9 Months Ended

Sep. 28, 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:


	September 28, 2025				September 29, 2024				December 29, 2024
	Carrying Cost		Fair Value		Carrying Cost		Fair Value		Carrying Cost		Fair Value
3.90% Notes Due 2029	$	900.0	$	875.3	$	900.0	$	869.5	$	900.0	$	845.6
3.55% Notes Due 2026	551.9		547.0		675.0		662.4		591.9		578.0
6.05% Notes Due 2034	500.0		522.6		500.0		526.5		500.0		502.2
6.35% Notes Due 2040	500.0		521.9		500.0		536.5		500.0		507.5
3.50% Notes Due 2027	475.0		468.2		500.0		486.6		500.0		481.5
5.10% Notes Due 2044	300.0		265.5		300.0		279.7		300.0		261.3
6.60% Debentures Due 2028	109.9		116.7		109.9		117.5		109.9		114.4
3.00% Notes Due 2024	—		—		500.0		498.2		—		—
Total long-term debt	3,336.8		3,317.2		3,984.9		3,976.9		3,401.8		3,290.5
Less: Deferred debt expenses	18.0		—		22.3		—		21.0		—
Less: Current portion	—		—		500.0		—		—		—
Long-term debt	$	3,318.8	$	3,317.2	$	3,462.6	$	3,976.9	$	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.

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+ Details

Segment Reporting

9 Months Ended

Sep. 28, 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 September 28, 2025 are as follows:


	Wizards of the Coast and Digital Gaming		Consumer Products		Entertainment		Corporate and Other		Total
Revenues	$	631.3	$	867.3	$	30.9	$	60.6	$	1,590.1
Less: Intersegment revenue	59.3		70.4		12.3		60.6		202.6
Total net revenues	572.0		796.9		18.6		—		1,387.5
Cost of sales	99.4		312.8		1.7		0.4		414.3
Program cost amortization	—		—		7.4		—		7.4
Royalties	36.0		87.1		(10.8)		2.0		114.3
Advertising	43.4		64.6		0.2		0.1		108.3
Amortization of intangible assets	2.2		10.8		4.7		(0.5)		17.2
Distribution (1)	13.5		41.3		—		0.2		55.0
Managed expense (2)	126.0		200.2		7.9		(4.2)		329.9
Operating profit	$	251.5	$	80.1	$	7.5	$	2.0	$	341.1

Reconciliation to Earnings before income taxes:
Interest expense									40.8
Interest income									(6.3)
Other expense, net									1.4
Earnings before income taxes									$	305.2

(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.

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


	Wizards of the Coast and Digital Gaming		Consumer Products		Entertainment		Corporate and Other		Total
Revenues	$	450.0	$	935.7	$	34.4	$	51.0	$	1,471.1
Less: Intersegment revenue	46.0		75.6		17.2		51.0		189.8
Total net revenues	404.0		860.1		17.2		—		1,281.3
Cost of sales	72.0		305.7		1.5		(0.3)		378.9
Program cost amortization	—		—		7.9		—		7.9
Royalties	9.5		101.9		(15.7)		2.3		98.0
Advertising	22.2		78.9		0.5		0.3		101.9
Amortization of intangible assets	2.1		11.2		3.8		—		17.1
Distribution (1)	9.3		48.5		—		0.9		58.7
Managed expense (2)	107.7		192.9		9.4		6.9		316.9
Operating profit (loss)	$	181.2	$	121.0	$	9.8	$	(10.1)	$	301.9

Reconciliation to Earnings before income taxes:
Interest expense									46.2
Interest income									(14.7)
Other income, net									(19.9)
Earnings before income taxes									$	290.3

(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 nine months ended September 28, 2025 are as follows:


	Wizards of the Coast and Digital Gaming		Consumer Products		Entertainment		Corporate and Other		Total
Revenues	$	1,708.2	$	1,794.1	$	97.0	$	130.6	$	3,729.9
Less: Intersegment revenue	151.7		156.5		35.7		130.6		474.5
Total net revenues	1,556.5		1,637.6		61.3		—		3,255.4
Cost of sales	251.4		588.1		4.4		0.2		844.1
Program cost amortization	—		—		21.0		—		21.0
Royalties	86.8		194.5		(30.7)		5.2		255.8
Advertising	96.5		131.7		0.4		(1.3)		227.3
Amortization of intangible assets	6.4		31.1		14.3		(0.4)		51.4
Distribution (1)	33.5		106.4		—		0.4		140.3
Managed expense (2)	358.6		1,579.2		49.3		14.8		2,001.9
Operating profit (loss)	$	723.3	$	(993.4)	$	2.6	$	(18.9)	$	(286.4)

Reconciliation to Loss before income taxes:
Interest expense									123.0
Interest income									(20.6)
Other income, net									(15.9)
Loss before income taxes									$	(372.9)

(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, impairment of goodwill, 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. Impairment of goodwill is included in the Impairment of goodwill 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 Consumer Products segment included a $1,021.9 million non-cash loss associated with the impairment of the reporting units within the Consumer Products segment. See Note 5, Goodwill, to the consolidated financial statements for further information. 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 nine months ended September 29, 2024 are as follows:


	Wizards of the Coast and Digital Gaming		Consumer Products		Entertainment		Corporate and Other		Total
Revenues	$	1,292.2	$	1,977.2	$	101.7	$	114.4	$	3,485.5
Less: Intersegment revenue	119.9		179.6		37.7		114.4		451.6
Total net revenues	1,172.3		1,797.6		64.0		—		3,033.9
Cost of sales (1)	201.1		641.9		4.8		(27.0)		820.8
Program cost amortization	—		—		24.5		—		24.5
Royalties	30.7		211.3		(40.9)		3.1		204.2
Advertising	66.7		144.5		0.8		1.8		213.8
Amortization of intangible assets	6.2		33.4		11.4		0.2		51.2
Distribution (2)	23.7		121.1		—		0.9		145.7
Managed expense (1) (3)	292.8		580.6		48.8		21.3		943.5
Operating profit (loss)	$	551.1	$	64.8	$	14.6	$	(0.3)	$	630.2

Reconciliation to Earnings before income taxes:
Interest expense									127.7
Interest income									(36.0)
Other income, net									(15.7)
Earnings before income taxes									$	554.2

(1) During the nine months ended September 29, 2024, the Company recorded three non-recurring prior year adjustments: (i) a $31.1 million expense related to historical environmental liabilities that was recorded in managed expense, (ii) a $26.7 million benefit related to over-accrual of vendor commitment liabilities that was recorded in Cost of sales, and (iii) an $18.1 million benefit related to the reversal of stock compensation expense for the Company's performance stock awards that was recorded in managed expense within Corporate and Other. See Note 1, Basis of Presentation, to the consolidated financial statements for further information. Items (i) and (ii) originally related to the Consumer Products segment; however, because the non-recurring nature of these adjustments are related to historical periods and not associated with the on-going future operations of the Consumer Products segment, the Company recorded the error corrections within Corporate and Other.

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

(3) 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 $24.4 million loss associated with the sale of the eOne Film and TV business.

Total assets information by segments is as follows:


	September 28, 2025		September 29, 2024		December 29, 2024
Total Assets
Wizards of the Coast and Digital Gaming	$	7,394.2	$	5,479.9	$	5,778.4
Consumer Products	9,100.8		7,558.8		7,785.2
Entertainment	1,429.9		2,884.7		2,857.8
Corporate and Other (1)	(12,403.1)		(8,693.5)		(10,081.1)
Total	$	5,521.8	$	7,229.9	$	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				Nine Months Ended
	September 28, 2025		September 29, 2024		September 28, 2025		September 29, 2024
Depreciation and intangible asset amortization (1)
Wizards of the Coast and Digital Gaming	$	4.7	$	4.5	$	13.6	$	13.1
Consumer Products	29.6		31.6		72.6		81.8
Entertainment	5.2		4.1		15.5		12.5
Corporate and Other	1.3		1.3		5.4		17.8
Total	$	40.8	$	41.5	$	107.1	$	125.2
Additions to property, plant and equipment
Wizards of the Coast and Digital Gaming	$	3.3	$	2.1	$	10.4	$	17.1
Consumer Products	14.2		13.8		36.5		38.4
Entertainment	0.1		—		0.1		—
Corporate and Other	2.1		2.5		2.6		12.4
Total	$	19.7	$	18.4	$	49.6	$	67.9

(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.

- Definition

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

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+ Details

Long-Term Debt and Other Financing - Long-Term Borrowings (Details) - USD ($) $ in Millions	Sep. 28, 2025	Dec. 29, 2024	Sep. 29, 2024
Debt Instrument [Line Items]
Carrying Cost	$ 3,336.8	$ 3,401.8	$ 3,984.9
Less: Deferred debt expenses	18.0	21.0	22.3
Less: Current portion	0.0	0.0	500.0
Long-term debt, carrying cost	3,318.8	3,380.8	3,462.6
Fair Value	3,317.2	3,290.5	3,976.9
Long-term debt, fair value	$ 3,317.2	3,290.5	3,976.9
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	$ 875.3	845.6	869.5
3.55% Notes Due 2026
Debt Instrument [Line Items]
Debt stated interest rate (as a percent)	3.55%
Carrying Cost	$ 551.9	591.9	675.0
Fair Value	$ 547.0	578.0	662.4
6.05% Notes Due 2034
Debt Instrument [Line Items]
Debt stated interest rate (as a percent)	6.05%
Carrying Cost	$ 500.0	500.0	500.0
Fair Value	$ 522.6	502.2	526.5
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	$ 521.9	507.5	536.5
3.50% Notes Due 2027
Debt Instrument [Line Items]
Debt stated interest rate (as a percent)	3.50%
Carrying Cost	$ 475.0	500.0	500.0
Fair Value	$ 468.2	481.5	486.6
5.10% Notes Due 2044
Debt Instrument [Line Items]
Debt stated interest rate (as a percent)	5.10%
Carrying Cost	$ 300.0	300.0	300.0
Fair Value	$ 265.5	261.3	279.7
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	$ 116.7	114.4	117.5
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	$ 498.2

Earnings (Loss) Per Common Share

9 Months Ended

Sep. 28, 2025

Earnings Per Share [Abstract]

Earnings (Loss) Per Common Share

Net earnings (loss) per share data were computed as follows:


	Three Months Ended				Nine Months Ended
	September 28, 2025		September 29, 2024		September 28, 2025		September 29, 2024
Net earnings (loss) attributable to Hasbro, Inc.	$	233.2	$	223.2	$	(524.0)	$	419.9

Average shares outstanding	140.4		139.5		140.1		139.3
Effect of dilutive securities:
Options and other share-based awards	1.8		1.0		—		0.7
Equivalent Shares	142.2		140.5		140.1		140.0

Net earnings (loss) attributable to Hasbro, Inc. per common share
Basic	$	1.66	$	1.60	$	(3.74)	$	3.01
Diluted	$	1.64	$	1.59	$	(3.74)	$	3.00

For the three and nine months ended September 28, 2025, options and other share-based awards totaling 0.5 million and 3.6 million, respectively, were excluded from the calculation of diluted earnings per share because to include them would have been anti-dilutive. For the three and nine months ended September 29, 2024 options and other share-based awards totaling 1.1 million and 1.9 million, respectively, were excluded from the calculation of diluted earnings per share because to include them would have been anti-dilutive. With respect to the nine months ended September 28, 2025, 2.9 million awards would have been included in the calculation of diluted shares had the Company not reported a net loss. Assuming that these options and other share-based awards were included, under the treasury stock method, this would have resulted in an additional 1.3 million shares being included in the diluted earnings per share calculation for the nine months ended September 28, 2025.

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Sep. 28, 2025	Sep. 29, 2024	Sep. 28, 2025	Sep. 29, 2024
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	23.40%	23.10%	(39.80%)	24.10%
Discrete income tax (benefit) expense	$ (5.7)	$ 1.1	$ (6.5)	$ 1.8
Impairment of goodwill (Note 5)	0.0	0.0	1,021.9	0.0
Corresponding tax benefit			5.4
Loss on disposal of business	$ 0.0	$ 0.0	$ 25.0	$ 24.4

- Definition

+ 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		9 Months Ended
	Sep. 28, 2025	Sep. 29, 2024	Sep. 28, 2025	Sep. 29, 2024
Derivative Instruments, Gain (Loss) [Line Items]
Net realized (losses) gains	$ (0.5)	$ (0.1)	$ 1.2	$ 0.7
Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Net realized (losses) gains	(0.6)	(0.6)	1.2	(0.7)
Net revenues
Derivative Instruments, Gain (Loss) [Line Items]
Net realized (losses) gains	0.4	0.8	0.3	1.4
Other
Derivative Instruments, Gain (Loss) [Line Items]
Net realized (losses) gains	$ (0.3)	$ (0.3)	$ (0.3)	$ 0.0

- Definition

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

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+ Details

Basis of Presentation (Policies)	9 Months Ended
Basis of Presentation (Policies)	Sep. 28, 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 September 28, 2025, September 29, 2024, and December 29, 2024, and the results of its operations and cash flows and shareholders' equity for the periods ended September 28, 2025 and September 29, 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 and nine months ended September 28, 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 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 assessing the impact of this ASU and upon adoption expect that any impact would be limited to additional income tax disclosures in the footnotes to our consolidated financial statements. We expect to adopt the standard beginning with our 2025 Form 10-K. 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. In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other— Internal-Use Software (Subtopic 350-40). The amendments in this update remove all references to the previously existing software development project stages and require entities to start capitalizing software costs when management has authorized and committed funding to a software project and it is probable that the project will be completed with its intended functionality. The new standard is effective for fiscal years beginning after December 15, 2027. Early adoption is permitted and can be applied prospectively, retrospectively, or utilizing a modified transition approach. We are currently assessing the impact of this ASU on our consolidated financial statements. There were no other recently issued accounting pronouncements which would have a material effect on the Company’s condensed consolidated financial statements.
Revenue Recognition	Revenue is recognized when control of the promised goods, functional intellectual property or production is transferred to the customers or licensees, in an amount that reflects the consideration the Company expects to be entitled to in exchange for transferring those goods. The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance, and collectability of consideration is probable. The majority of the Company’s revenues are derived from sales of finished products to customers. See Note 1, 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 arrangements that result in the recognition of contract assets and contract liabilities. 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 and Family Brands. 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.

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+ Details

Revenue Recognition - Net Revenues by Geographic Regions (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2025	Sep. 29, 2024	Sep. 28, 2025	Sep. 29, 2024
Revenue from External Customer [Line Items]
Net revenues	$ 1,387.5	$ 1,281.3	$ 3,255.4	$ 3,033.9
Consumer Products
Revenue from External Customer [Line Items]
Net revenues			1,637.6
Consumer Products \| Operating Segments
Revenue from External Customer [Line Items]
Net revenues	796.9	860.1	1,637.6	1,797.6
North America \| Consumer Products \| Operating Segments
Revenue from External Customer [Line Items]
Net revenues	483.0	526.8	950.4	1,072.0
Europe \| Consumer Products \| Operating Segments
Revenue from External Customer [Line Items]
Net revenues	181.1	162.3	361.8	341.8
Asia Pacific \| Consumer Products \| Operating Segments
Revenue from External Customer [Line Items]
Net revenues	61.2	81.9	178.6	193.3
Latin America \| Consumer Products \| Operating Segments
Revenue from External Customer [Line Items]
Net revenues	$ 71.6	$ 89.1	$ 146.8	$ 190.5

- Definition

+ References

+ Details

Other Comprehensive Earnings (Loss)

9 Months Ended

Sep. 28, 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				Nine Months Ended
	September 28, 2025		September 29, 2024		September 28, 2025		September 29, 2024
Other comprehensive earnings (loss), tax effect:
Tax (expense) benefit on hedging activities	$	(0.4)	$	0.4	$	2.4	$	(0.8)
Reclassifications to earnings (loss), tax effect:
Tax expense (benefit) on hedging activities	—		—		0.3		(0.5)

Total tax effect on Other comprehensive earnings (loss)	$	(0.4)	$	0.4	$	2.7	$	(1.3)

Changes in the components of Accumulated other comprehensive 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)	(0.1)		(12.5)		—		36.6		24.0
Balance at September 28, 2025	$	(8.1)	$	(21.6)	$	(0.1)	$	(192.6)	$	(222.4)

2024
Balance at December 31, 2023	$	(4.2)	$	(16.8)	$	(0.1)	$	(180.4)	$	(201.5)
Current period other comprehensive earnings (loss)	(0.1)		1.9		—		(28.1)		(26.3)
Balance at September 29, 2024	$	(4.3)	$	(14.9)	$	(0.1)	$	(208.5)	$	(227.8)

Gains (Losses) on Derivative Instruments

At September 28, 2025, the Company had remaining deferred losses on foreign currency forward contracts, net of tax, of $8.6 million in Accumulated other comprehensive loss ("AOCL"). These instruments hedge payments related to inventory purchased in the nine months ended September 28, 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 third 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 AOCL and is being amortized to interest expense over the life of the related Notes using the effective interest rate method. At September 28, 2025, deferred losses, net of tax of $13.0 million related to these instruments remained in AOCL. For each of the three months ended September 28, 2025 and September 29, 2024, previously deferred losses, net of tax, of $0.2 million related to these instruments were reclassified from AOCL to net earnings. For each of the nine months ended September 28, 2025 and

September 29, 2024, previously deferred losses, net of tax, of $0.6 million related to these instruments were reclassified from AOCL to net earnings.

Of the amounts included in AOCL at September 28, 2025, the Company expects net loss of approximately $5.9 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, to the consolidated financial statements for additional discussion on reclassifications from AOCL to earnings.

Revenue Recognition - Net Revenues by Category (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2025	Sep. 29, 2024	Sep. 28, 2025	Sep. 29, 2024
Revenue from External Customer [Line Items]
Net revenues	$ 1,387.5	$ 1,281.3	$ 3,255.4	$ 3,033.9
Wizards of the Coast and Digital Gaming
Revenue from External Customer [Line Items]
Net revenues	572.0	404.0	1,556.5	1,172.3
Entertainment
Revenue from External Customer [Line Items]
Net revenues	18.6	17.2	61.3	64.0
Tabletop Gaming \| Wizards of the Coast and Digital Gaming
Revenue from External Customer [Line Items]
Net revenues	441.8	296.8	1,191.9	832.6
Digital and Licensed Gaming \| Wizards of the Coast and Digital Gaming
Revenue from External Customer [Line Items]
Net revenues	130.2	107.2	364.6	339.7
Film and TV \| Entertainment
Revenue from External Customer [Line Items]
Net revenues	1.9	1.6	7.7	3.4
Family Brands \| Entertainment
Revenue from External Customer [Line Items]
Net revenues	$ 16.7	$ 15.6	$ 53.6	$ 60.6

- Definition

+ References

+ Details

Other Comprehensive Earnings (Loss) - Accumulated Other Comprehensive Earnings (Loss), Net of Tax (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 28, 2025	Jun. 29, 2025	Mar. 30, 2025	Sep. 29, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 28, 2025	Sep. 29, 2024
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 269.7	$ 1,197.5	$ 1,185.0	$ 1,172.9	$ 1,029.9	$ 1,087.0	$ 1,185.0	$ 1,087.0
Current period other comprehensive earnings (loss)	4.2	13.0	6.8	(5.6)	(18.9)	(1.8)	24.0	(26.3)
Ending balance	433.8	269.7	1,197.5	1,309.7	1,172.9	1,029.9	433.8	1,309.7
Pension and Postretirement Amounts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(8.0)			(4.2)	(8.0)	(4.2)
Current period other comprehensive earnings (loss)							(0.1)	(0.1)
Ending balance	(8.1)			(4.3)			(8.1)	(4.3)
Gains (Losses) on Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(9.1)			(16.8)	(9.1)	(16.8)
Current period other comprehensive earnings (loss)							(12.5)	1.9
Ending balance	(21.6)			(14.9)			(21.6)	(14.9)
Unrealized Holding Gains (Losses) on Available- for-Sale Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(0.1)			(0.1)	(0.1)	(0.1)
Current period other comprehensive earnings (loss)							0.0	0.0
Ending balance	(0.1)			(0.1)			(0.1)	(0.1)
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(229.2)			(180.4)	(229.2)	(180.4)
Current period other comprehensive earnings (loss)							36.6	(28.1)
Ending balance	(192.6)			(208.5)			(192.6)	(208.5)
Total Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(226.6)	(239.6)	(246.4)	(222.2)	(203.3)	(201.5)	(246.4)	(201.5)
Current period other comprehensive earnings (loss)	4.2	13.0	6.8	(5.6)	(18.9)	(1.8)	24.0	(26.3)
Ending balance	$ (222.4)	$ (226.6)	$ (239.6)	$ (227.8)	$ (222.2)	$ (203.3)	$ (222.4)	$ (227.8)

- Definition

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

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- Definition

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

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+ Details

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2025	Sep. 29, 2024	Sep. 28, 2025	Sep. 29, 2024
Loss Contingencies [Line Items]
Selling, distribution and administration	$ 287.3	$ 299.3	$ 839.7	$ 852.6
Leases not yet commenced, estimated obligation	$ 207.3		$ 207.3
Minimum
Loss Contingencies [Line Items]
Initial lease terms	10 years		10 years
Maximum
Loss Contingencies [Line Items]
Initial lease terms	12 years		12 years
Revision of Prior Period, Error Correction, Adjustment
Loss Contingencies [Line Items]
Selling, distribution and administration			$ 31.1	$ 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

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+ Details

- Definition

+ References + Details

Revenue Recognition - Accounts Receivable and Allowance for Credit Losses (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 28, 2025	Sep. 29, 2024
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of the year	$ 25.8	$ 12.7
Provisions/charges to income	29.7	4.6
Amounts charged off and other	(2.6)	(0.5)
Foreign currency impact	0.8	(0.6)
Ending balance	$ 53.7	$ 16.2

Earnings (Loss) Per Common Share - Additional Information (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2025	Sep. 29, 2024	Sep. 28, 2025	Sep. 29, 2024
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Options and other share-based awards (in shares)	1.8	1.0	0.0	0.7
Employee Stock Option And Other Share-Based Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0.5	1.1	3.6	1.9
Options and other share-based awards (in shares)			2.9
Incremental common shares attributable to dilutive effect of treasury stock method (in shares)			1.3

Investments in Productions - Program Production Costs (Details) - USD ($) $ in Millions	Sep. 28, 2025	Dec. 29, 2024	Sep. 29, 2024
Individual Monetization
Released, net of amortization	$ 60.7	$ 62.4	$ 73.7
In production	1.8	10.8	12.3
Pre-production	8.6	7.4	4.8
Individual monetization, costs	71.1	80.6	90.8
Film/TV Group Monetization
Released, net of amortization	30.3	37.5	42.5
Investment in Other Programming
Released, net of amortization	7.6	6.0	5.0
In production	1.4	0.7	5.9
Pre-production	0.1	0.0	0.9
Other programming costs	9.1	6.7	11.8
Total Program Investments	$ 110.5	$ 124.8	$ 145.1

Derivative Financial Instruments - Additional Information (Details) - Foreign Exchange Forward - Fair Value Hedging - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2025	Sep. 29, 2024	Sep. 28, 2025	Sep. 29, 2024	Dec. 29, 2024
Derivative [Line Items]
Net gains (losses)	$ 4.2	$ 4.5	$ 13.4	$ 8.7
Not Designated as Hedging Instrument
Derivative [Line Items]
Notional amount	$ 242.7	$ 267.4	$ 242.7	$ 267.4	$ 289.6

Other Comprehensive Earnings (Loss) - Changes in Other Comprehensive Earnings (Loss), Tax Effect (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2025	Sep. 29, 2024	Sep. 28, 2025	Sep. 29, 2024
Other comprehensive earnings (loss), tax effect:
Tax (expense) benefit on hedging activities	$ (0.4)	$ 0.4	$ 2.4	$ (0.8)
Reclassifications to earnings (loss), tax effect:
Tax expense (benefit) on hedging activities	0.0	0.0	0.3	(0.5)
Total tax effect on Other comprehensive earnings (loss)	$ (0.4)	$ 0.4	$ 2.7	$ (1.3)

Restructuring Actions

9 Months Ended

Sep. 28, 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 six to nine 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 Accrued liabilities in the Consolidated Balance Sheets as follows:


	Nine Months Ended
	September 28, 2025		September 29, 2024
Balance at beginning of the year	$	46.9	$	81.2
Charges	5.2		7.8
Payments	(29.4)		(40.1)
Ending Balance	$	22.7	$	48.9


	Total
Charges incurred to date	$	159.7
Estimated charges to be incurred on approved initiatives	—
Total expected charges on approved initiatives	$	159.7

Consolidated Statements of Comprehensive Earnings (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2025	Sep. 29, 2024	Sep. 28, 2025	Sep. 29, 2024
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ 233.9	$ 223.3	$ (521.3)	$ 420.9
Other comprehensive earnings (loss):
Foreign currency translation adjustments	2.3	(1.4)	36.6	(28.1)
Net gains (losses) on hedging activities, net of tax	1.3	(4.2)	(11.8)	0.7
Reclassifications to earnings, net of tax:
Net losses (gains) on hedging activities	0.7	0.1	(0.7)	1.2
Amortization of unrecognized pension and postretirement amounts	(0.1)	(0.1)	(0.1)	(0.1)
Total other comprehensive earnings (loss), net of tax	4.2	(5.6)	24.0	(26.3)
Total comprehensive earnings attributable to noncontrolling interests	0.7	0.1	2.7	1.0
Total comprehensive earnings (loss) attributable to Hasbro, Inc.	$ 237.4	$ 217.6	$ (500.0)	$ 393.6

Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 28, 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:


	Fair Value Measurements Using:
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
September 28, 2025
Assets:

Available-for-sale securities	$	55.9	$	55.9	$	—	$	—
Derivatives	1.0		—		1.0		—
Total assets	$	56.9	$	55.9	$	1.0	$	—

Liabilities:
Derivatives	$	8.6	$	—	$	8.6	$	—
Total liabilities	$	8.6	$	—	$	8.6	$	—


	Fair Value Measurements Using:
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
September 29, 2024
Assets:
Short-term investments	$	489.3	$	489.3	$	—	$	—
Available-for-sale securities	0.6		0.6		—		—
Derivatives	3.4		—		3.4		—
Total assets	$	493.3	$	489.9	$	3.4	$	—

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

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	$	—

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 (loss) 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. 31, 2023	1,087.0	110.1	2,590.6	2,188.4	(201.5)	(3,625.7)	25.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss) attributable to Hasbro, Inc.	419.9
Other comprehensive gain (loss)	(26.3)				(26.3)
Ending balance at Sep. 29, 2024	1,309.7	110.1	2,609.5	2,408.2	(227.8)	(3,612.8)	22.5
Beginning balance at Mar. 31, 2024	1,029.9	110.1	2,569.9	2,148.0	(203.3)	(3,618.8)	24.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss) attributable to Hasbro, Inc.	138.5			138.5
Other comprehensive gain (loss)	(18.9)				(18.9)
Stock-based compensation transactions	5.3		2.9			2.4
Stock-based compensation expense	19.8		17.5			2.3
Dividends declared	0.0		1.8	(1.8)
Distributions paid to noncontrolling owners and other foreign exchange	(1.7)						(1.7)
Ending balance at Jun. 30, 2024	1,172.9	110.1	2,592.1	2,284.7	(222.2)	(3,614.1)	22.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss) attributable to Hasbro, Inc.	223.2			223.2
Net earnings attributable to noncontrolling interests	0.1						0.1
Other comprehensive gain (loss)	(5.6)				(5.6)
Stock-based compensation transactions	2.6		0.6			2.0
Stock-based compensation expense	14.0		14.7			(0.7)
Dividends declared	(97.6)		2.1	(99.7)
Distributions paid to noncontrolling owners and other foreign exchange	0.1						0.1
Ending balance at Sep. 29, 2024	1,309.7	110.1	2,609.5	2,408.2	(227.8)	(3,612.8)	22.5
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 (loss) 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
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 (loss) attributable to Hasbro, Inc.	(524.0)
Other comprehensive gain (loss)	24.0				24.0
Ending balance at Sep. 28, 2025	433.8	110.1	2,670.4	1,452.4	(222.4)	(3,604.1)	27.4
Beginning balance at Mar. 30, 2025	1,197.5	110.1	2,631.9	2,274.4	(239.6)	(3,606.9)	27.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss) attributable to Hasbro, Inc.	(855.8)			(855.8)
Net earnings attributable to noncontrolling interests	1.1						1.1
Other comprehensive gain (loss)	13.0				13.0
Stock-based compensation transactions	(0.7)		(1.3)			0.6
Stock-based compensation expense	12.9		12.5			0.4
Dividends declared	(98.2)		1.1	(99.3)
Distributions paid to noncontrolling owners and other foreign exchange	(0.1)						(0.1)
Ending balance at Jun. 29, 2025	269.7	110.1	2,644.2	1,319.3	(226.6)	(3,605.9)	28.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss) attributable to Hasbro, Inc.	233.2			233.2
Net earnings attributable to noncontrolling interests	0.7						0.7
Other comprehensive gain (loss)	4.2				4.2
Stock-based compensation transactions	1.9		0.1			1.8
Stock-based compensation expense	24.2		24.2
Dividends declared	(98.2)		1.9	(100.1)
Distributions paid to noncontrolling owners and other foreign exchange	(1.9)						(1.9)
Ending balance at Sep. 28, 2025	$ 433.8	$ 110.1	$ 2,670.4	$ 1,452.4	$ (222.4)	$ (3,604.1)	$ 27.4

- Definition

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

+ References

+ Details

- 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

+ Details

Fair Value of Financial Instruments

9 Months Ended

Sep. 28, 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:


	Fair Value Measurements Using:
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
September 28, 2025
Assets:

Available-for-sale securities	$	55.9	$	55.9	$	—	$	—
Derivatives	1.0		—		1.0		—
Total assets	$	56.9	$	55.9	$	1.0	$	—

Liabilities:
Derivatives	$	8.6	$	—	$	8.6	$	—
Total liabilities	$	8.6	$	—	$	8.6	$	—


	Fair Value Measurements Using:
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
September 29, 2024
Assets:
Short-term investments	$	489.3	$	489.3	$	—	$	—
Available-for-sale securities	0.6		0.6		—		—
Derivatives	3.4		—		3.4		—
Total assets	$	493.3	$	489.9	$	3.4	$	—

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

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	$	—

At September 28, 2025, the Company held $55.9 million of available-for-sale securities, of which $55.2 million consisted of U.S. Treasury bills. These investments, which are classified as available-for-sale, are recorded at fair value within Other assets in the Company's Consolidated Balance Sheet, with unrealized gains and losses excluded from net income and deferred as components of Other comprehensive earnings (loss), net of related tax effects, until realized. At September 29, 2024, the Company held $489.3 million of U.S. Treasury bills which were classified as held-to-maturity and carried at amortized cost, and were recorded in Short-term investments in the Company's Consolidated Balance Sheet. This amount reflects the proceeds from the Company's $500.0 million debt offering completed in May 2024, which the proceeds, together with available cash, were used to repay the 2024 Notes.

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 nine months ended September 28, 2025. There were no material changes to fair value measurements of the Company's financial instruments which use significant unobservable inputs (Level 3) for nine months ended September 29, 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 September 28, 2025, September 29, 2024, and December 29, 2024, the carrying cost of these instruments approximated their fair value. The Company's financial instruments at September 28, 2025, September 29, 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, to the consolidated financial statements for the fair value of the Company's outstanding debt.

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

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

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Fair Value of Financial Instruments - Additional Information (Details) - USD ($) $ in Millions	Sep. 28, 2025	Dec. 29, 2024	Sep. 29, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	$ 0.0	$ 0.0	$ 489.3
Carrying cost	3,336.8	3,401.8	3,984.9
6.05% Notes Due 2034
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying cost	500.0	500.0	500.0
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	55.9	$ 0.6	0.6
Short-term investments			$ 489.3
Fair Value, Recurring \| US Treasury Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	$ 55.2

Revenue Recognition

9 Months Ended

Sep. 28, 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 arrangements that result in the recognition of contract assets and contract liabilities. The opening and closing balances of contract assets and contract liabilities are as follows:


	September 28, 2025		September 29, 2024
Assets
Balance at beginning of the year	$	241.4	$	213.3
Ending Balance	$	266.9	$	242.5

Liabilities
Balance at beginning of the year	$	236.8	$	230.8
Ending Balance	$	213.5	$	256.9

For the nine months ended September 28, 2025, the Company recognized revenue of $193.2 million that was included in the December 29, 2024 contract liability balance. For the nine months ended September 29, 2024, the Company recognized revenue of $53.1 million that was included in the December 31, 2023 contract liability balance.

Unsatisfied performance obligations

As of September 28, 2025, revenue for unsatisfied performance obligations expected to be recognized in the future is $989.4 million, primarily for intellectual property to be made available in the future under existing agreements with merchandise and co-branding licensees and television station affiliates. Of this amount, we expect to recognize approximately $113.8 million in the remainder of 2025, $200.8 million in 2026, $151.6 million in 2027, and $523.2 million thereafter. These amounts include only fixed consideration or minimum guarantees and do not include amounts related to (i) contracts with an original expected term of one year or less or (ii) licenses of intellectual property that are solely based on the sales of the licensee.

Accounts Receivable and Allowance for Credit Losses

The Company’s balance for accounts receivable on the Consolidated Balance Sheets as of September 28, 2025 and September 29, 2024 are primarily from contracts with customers. A summary of the activity in the allowance for credit losses are as follows:


	September 28, 2025		September 29, 2024
Balance at beginning of the year	$	25.8	$	12.7
Provisions/charges to income	29.7		4.6
Amounts charged off and other	(2.6)		(0.5)
Foreign currency impact	0.8		(0.6)
Ending balance	$	53.7	$	16.2

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 and Family Brands. 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				Nine Months Ended
	September 28, 2025		September 29, 2024		September 28, 2025		September 29, 2024
Tabletop Gaming	$	441.8	$	296.8	$	1,191.9	$	832.6
Digital and Licensed Gaming	130.2		107.2		364.6		339.7
Net revenues	$	572.0	$	404.0	$	1,556.5	$	1,172.3

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


	Three Months Ended				Nine Months Ended
	September 28, 2025		September 29, 2024		September 28, 2025		September 29, 2024
North America	$	483.0	$	526.8	$	950.4	$	1,072.0
Europe	181.1		162.3		361.8		341.8
Asia Pacific	61.2		81.9		178.6		193.3
Latin America	71.6		89.1		146.8		190.5
Net revenues	$	796.9	$	860.1	$	1,637.6	$	1,797.6

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


	Three Months Ended				Nine Months Ended
	September 28, 2025		September 29, 2024		September 28, 2025		September 29, 2024
Film and TV	$	1.9	$	1.6	$	7.7	$	3.4
Family Brands	16.7		15.6		53.6		60.6
Net revenues	$	18.6	$	17.2	$	61.3	$	64.0

The following table represents consolidated net revenues by brand portfolio:


	Three Months Ended				Nine Months Ended
	September 28, 2025		September 29, 2024		September 28, 2025		September 29, 2024
Grow Brands	$	1,006.0	$	839.0	$	2,391.6	$	2,065.0
Optimize Brands	221.9		223.2		509.5		530.0
Reinvent Brands	159.6		219.1		354.3		438.9
Net revenues	$	1,387.5	$	1,281.3	$	3,255.4	$	3,033.9

- 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 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: 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 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
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-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

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

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

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

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

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

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Restructuring Actions - Restructuring Charges (Details) - Operational Excellence Program $ in Millions	Sep. 28, 2025 USD ($)
Restructuring Cost and Reserve [Line Items]
Charges incurred to date	$ 159.7
Estimated charges to be incurred on approved initiatives	0.0
Total expected charges on approved initiatives	$ 159.7

- 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

Segment Reporting (Tables)

9 Months Ended

Sep. 28, 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 September 28, 2025 are as follows:


	Wizards of the Coast and Digital Gaming		Consumer Products		Entertainment		Corporate and Other		Total
Revenues	$	631.3	$	867.3	$	30.9	$	60.6	$	1,590.1
Less: Intersegment revenue	59.3		70.4		12.3		60.6		202.6
Total net revenues	572.0		796.9		18.6		—		1,387.5
Cost of sales	99.4		312.8		1.7		0.4		414.3
Program cost amortization	—		—		7.4		—		7.4
Royalties	36.0		87.1		(10.8)		2.0		114.3
Advertising	43.4		64.6		0.2		0.1		108.3
Amortization of intangible assets	2.2		10.8		4.7		(0.5)		17.2
Distribution (1)	13.5		41.3		—		0.2		55.0
Managed expense (2)	126.0		200.2		7.9		(4.2)		329.9
Operating profit	$	251.5	$	80.1	$	7.5	$	2.0	$	341.1

Reconciliation to Earnings before income taxes:
Interest expense									40.8
Interest income									(6.3)
Other expense, net									1.4
Earnings before income taxes									$	305.2

(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 September 29, 2024 are as follows:


	Wizards of the Coast and Digital Gaming		Consumer Products		Entertainment		Corporate and Other		Total
Revenues	$	450.0	$	935.7	$	34.4	$	51.0	$	1,471.1
Less: Intersegment revenue	46.0		75.6		17.2		51.0		189.8
Total net revenues	404.0		860.1		17.2		—		1,281.3
Cost of sales	72.0		305.7		1.5		(0.3)		378.9
Program cost amortization	—		—		7.9		—		7.9
Royalties	9.5		101.9		(15.7)		2.3		98.0
Advertising	22.2		78.9		0.5		0.3		101.9
Amortization of intangible assets	2.1		11.2		3.8		—		17.1
Distribution (1)	9.3		48.5		—		0.9		58.7
Managed expense (2)	107.7		192.9		9.4		6.9		316.9
Operating profit (loss)	$	181.2	$	121.0	$	9.8	$	(10.1)	$	301.9

Reconciliation to Earnings before income taxes:
Interest expense									46.2
Interest income									(14.7)
Other income, net									(19.9)
Earnings before income taxes									$	290.3

(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 nine months ended September 28, 2025 are as follows:


	Wizards of the Coast and Digital Gaming		Consumer Products		Entertainment		Corporate and Other		Total
Revenues	$	1,708.2	$	1,794.1	$	97.0	$	130.6	$	3,729.9
Less: Intersegment revenue	151.7		156.5		35.7		130.6		474.5
Total net revenues	1,556.5		1,637.6		61.3		—		3,255.4
Cost of sales	251.4		588.1		4.4		0.2		844.1
Program cost amortization	—		—		21.0		—		21.0
Royalties	86.8		194.5		(30.7)		5.2		255.8
Advertising	96.5		131.7		0.4		(1.3)		227.3
Amortization of intangible assets	6.4		31.1		14.3		(0.4)		51.4
Distribution (1)	33.5		106.4		—		0.4		140.3
Managed expense (2)	358.6		1,579.2		49.3		14.8		2,001.9
Operating profit (loss)	$	723.3	$	(993.4)	$	2.6	$	(18.9)	$	(286.4)

Reconciliation to Loss before income taxes:
Interest expense									123.0
Interest income									(20.6)
Other income, net									(15.9)
Loss before income taxes									$	(372.9)

(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 nine months ended September 29, 2024 are as follows:


	Wizards of the Coast and Digital Gaming		Consumer Products		Entertainment		Corporate and Other		Total
Revenues	$	1,292.2	$	1,977.2	$	101.7	$	114.4	$	3,485.5
Less: Intersegment revenue	119.9		179.6		37.7		114.4		451.6
Total net revenues	1,172.3		1,797.6		64.0		—		3,033.9
Cost of sales (1)	201.1		641.9		4.8		(27.0)		820.8
Program cost amortization	—		—		24.5		—		24.5
Royalties	30.7		211.3		(40.9)		3.1		204.2
Advertising	66.7		144.5		0.8		1.8		213.8
Amortization of intangible assets	6.2		33.4		11.4		0.2		51.2
Distribution (2)	23.7		121.1		—		0.9		145.7
Managed expense (1) (3)	292.8		580.6		48.8		21.3		943.5
Operating profit (loss)	$	551.1	$	64.8	$	14.6	$	(0.3)	$	630.2

Reconciliation to Earnings before income taxes:
Interest expense									127.7
Interest income									(36.0)
Other income, net									(15.7)
Earnings before income taxes									$	554.2

(2) Distribution expenses consist of shipping and warehousing expense and 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:


	September 28, 2025		September 29, 2024		December 29, 2024
Total Assets
Wizards of the Coast and Digital Gaming	$	7,394.2	$	5,479.9	$	5,778.4
Consumer Products	9,100.8		7,558.8		7,785.2
Entertainment	1,429.9		2,884.7		2,857.8
Corporate and Other (1)	(12,403.1)		(8,693.5)		(10,081.1)
Total	$	5,521.8	$	7,229.9	$	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				Nine Months Ended
	September 28, 2025		September 29, 2024		September 28, 2025		September 29, 2024
Depreciation and intangible asset amortization (1)
Wizards of the Coast and Digital Gaming	$	4.7	$	4.5	$	13.6	$	13.1
Consumer Products	29.6		31.6		72.6		81.8
Entertainment	5.2		4.1		15.5		12.5
Corporate and Other	1.3		1.3		5.4		17.8
Total	$	40.8	$	41.5	$	107.1	$	125.2
Additions to property, plant and equipment
Wizards of the Coast and Digital Gaming	$	3.3	$	2.1	$	10.4	$	17.1
Consumer Products	14.2		13.8		36.5		38.4
Entertainment	0.1		—		0.1		—
Corporate and Other	2.1		2.5		2.6		12.4
Total	$	19.7	$	18.4	$	49.6	$	67.9

Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2025	Sep. 29, 2024	Sep. 28, 2025	Sep. 29, 2024
Income Statement [Abstract]
Net revenues	$ 1,387.5	$ 1,281.3	$ 3,255.4	$ 3,033.9
Costs and expenses:
Cost of sales	414.3	378.9	844.1	820.8
Program cost amortization	7.4	7.9	21.0	24.5
Royalties	114.3	98.0	255.8	204.2
Product development	97.6	76.3	255.6	212.2
Advertising	108.3	101.9	227.3	213.8
Amortization of intangible assets	17.2	17.1	51.4	51.2
Impairment of goodwill (Note 5)	0.0	0.0	1,021.9	0.0
Loss on disposal of business	0.0	0.0	25.0	24.4
Selling, distribution and administration	287.3	299.3	839.7	852.6
Total costs and expenses	1,046.4	979.4	3,541.8	2,403.7
Operating profit (loss)	341.1	301.9	(286.4)	630.2
Non-operating expense:
Interest expense	40.8	46.2	123.0	127.7
Interest income	(6.3)	(14.7)	(20.6)	(36.0)
Other expense (income), net	1.4	(19.9)	(15.9)	(15.7)
Total non-operating expense, net	35.9	11.6	86.5	76.0
Earnings (loss) before income taxes	305.2	290.3	(372.9)	554.2
Income tax expense	71.3	67.0	148.4	133.3
Net earnings (loss)	233.9	223.3	(521.3)	420.9
Net earnings attributable to noncontrolling interests	0.7	0.1	2.7	1.0
Net earnings (loss) attributable to Hasbro, Inc.	$ 233.2	$ 223.2	$ (524.0)	$ 419.9
Net earnings (loss) per common share:
Basic (in dollars per share)	$ 1.66	$ 1.60	$ (3.74)	$ 3.01
Diluted (in dollars per share)	1.64	1.59	(3.74)	3.00
Cash dividends declared per common share (in dollars per share)	$ 0.70	$ 0.70	$ 2.10	$ 1.40

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 28, 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

Cover - shares	9 Months Ended
Cover - shares	Sep. 28, 2025	Oct. 31, 2025
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 28, 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		140,337,023
Entity Central Index Key	0000046080
Current Fiscal Year End Date	--12-28
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q3
Amendment Flag	false

Goodwill

9 Months Ended

Sep. 28, 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
Impairment of goodwill	—		(1,021.9)		—		(1,021.9)
Foreign exchange translation	(0.7)		0.9		—		0.2
Balance as of September 28, 2025	$	370.3	$	561.0	$	325.2	$	1,256.5


	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)		—		(0.3)
Balance as of September 29, 2024	$	371.5	$	1,582.2	$	325.2	$	2,278.9

We assess goodwill and other intangible assets with indefinite lives for impairment each year, or more frequently if events or changes in circumstances indicate an asset may be impaired. For goodwill and indefinite-lived intangible assets, our policy is to assess for impairment as of the beginning of each fiscal fourth quarter. The Company may perform a qualitative assessment and bypass the quantitative impairment testing process, if it is not more likely than not that the carrying value of a reporting unit exceeds its fair value.

Due to increased tariffs, including reciprocal tariffs, announced by the U.S. government in April 2025, the escalation of ongoing trade policy disputes between international governments, the financial performance of certain reporting units being lower than previously forecasted, and other macroeconomic headwinds, during the second quarter of 2025, the Company noted downward revisions to operating income and cash flow forecasts for certain of its reporting units within the Consumer Products and Entertainment segments. As a result, during the second quarter of 2025, the Company performed an interim quantitative impairment test for the North America, Europe, Asia Pacific, and Latin America Consumer Products reporting units, as well as the Family Brands reporting unit within the Entertainment segment. Additionally, due to our ongoing transformation, we concluded that, as of the second quarter of 2025, the North America, Europe, Asia Pacific, and Latin America reporting units had similar economic characteristics and should be aggregated for purposes of testing goodwill for impairment. Our conclusion was based on a detailed analysis of the aggregation criteria set forth in ASC Topic 280, Segment Reporting, and in FASB ASC Topic 350, Intangibles - Goodwill and Other. These reporting units serve similar clients and have similar products, and as of the second quarter of 2025 had similar sourcing and distribution methods that along with our ongoing transformation has resulted in similar economic characteristics.

As a result of the quantitative tests performed prior to and following the aggregation, the Company determined that the carrying values of our regional Consumer Products reporting units exceeded their expected fair values and recorded pre-tax non-cash impairment charges of $1,021.9 million within the Consolidated Statements of Operations for the nine months ended September 28, 2025. The fair values of North America and Europe were determined considering a discounted cash flow model which is primarily based on management’s future revenue and cost estimates, which included the estimated impact of tariff policies in effect and the related macroeconomic environment, and a discount rate. The fair value of the Asia Pacific and Latin America reporting units was determined considering a discounted cash flow model weighted equally with the market approach, which is primarily based on multiples of comparable public companies. No impairments were recorded related to the Family Brands reporting unit.

At September 28, 2025, $325.2 million of goodwill is allocated to the Family Brands reporting unit. As of the date of the most recent test, which occurred during the second quarter of 2025, the fair value of our Family Brands reporting unit, within the Entertainment segment, exceeded the carrying value of that reporting unit by approximately 15%. The fair value of the Family Brands reporting unit was determined considering a discounted cash flow model weighted equally with the market approach which is primarily based on multiples of comparable public companies. For the Family Brands reporting unit, critical assumptions included a discount rate approximating 9.5%, a terminal value revenue growth rate of 3.0%, and a terminal operating profit margin consistent with levels achieved in recent

historical periods when excluding one-time impairment and disposal charges. Although we believe the assumptions and estimates made were reasonable and appropriate, these estimates are based on a number of factors including historical experience and information obtained from reporting unit management. Actual results could differ from these estimates, especially given uncertainty related to tariffs, global trade policy, and global macroeconomic conditions.

- Definition

The entire disclosure for goodwill.

+ References + Details

Segment Reporting - Other Supplemental Information by Segments Total Assets and Other Supplemental Information by Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2025	Sep. 29, 2024	Sep. 28, 2025	Sep. 29, 2024	Dec. 29, 2024
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	$ 5,521.8	$ 7,229.9	$ 5,521.8	$ 7,229.9	$ 6,340.3
Depreciation and intangible asset amortization	40.8	41.5	107.1	125.2
Additions to property, plant and equipment	19.7	18.4	49.6	67.9
Operating Segments \| Wizards of the Coast and Digital Gaming
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	7,394.2	5,479.9	7,394.2	5,479.9	5,778.4
Depreciation and intangible asset amortization	4.7	4.5	13.6	13.1
Additions to property, plant and equipment	3.3	2.1	10.4	17.1
Operating Segments \| Consumer Products
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	9,100.8	7,558.8	9,100.8	7,558.8	7,785.2
Depreciation and intangible asset amortization	29.6	31.6	72.6	81.8
Additions to property, plant and equipment	14.2	13.8	36.5	38.4
Operating Segments \| Entertainment
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	1,429.9	2,884.7	1,429.9	2,884.7	2,857.8
Depreciation and intangible asset amortization	5.2	4.1	15.5	12.5
Additions to property, plant and equipment	0.1	0.0	0.1	0.0
Corporate and Other
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	(12,403.1)	(8,693.5)	(12,403.1)	(8,693.5)	$ (10,081.1)
Depreciation and intangible asset amortization	1.3	1.3	5.4	17.8
Additions to property, plant and equipment	$ 2.1	$ 2.5	$ 2.6	$ 12.4

- Definition

Amount of asset recognized for present right to economic benefit.

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+ Details

- Definition

The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.

+ References + Details

Goodwill (Tables)

9 Months Ended

Sep. 28, 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
Impairment of goodwill	—		(1,021.9)		—		(1,021.9)
Foreign exchange translation	(0.7)		0.9		—		0.2
Balance as of September 28, 2025	$	370.3	$	561.0	$	325.2	$	1,256.5


	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)		—		(0.3)
Balance as of September 29, 2024	$	371.5	$	1,582.2	$	325.2	$	2,278.9

- Definition

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

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+ Details

Additional Balance Sheet Information

9 Months Ended

Sep. 28, 2025

Payables and Accruals [Abstract]

Additional Balance Sheet Information

Components of accrued liabilities were as follows:


	September 28, 2025		September 29, 2024		December 29, 2024
Contract liabilities - current	$	213.5	$	255.6	$	236.5
Accrued royalties expense	207.2		183.0		160.5
Payroll and management incentives	105.8		79.8		121.1
Advertising	97.6		70.0		58.7
Other taxes	57.5		60.5		60.9
Accrued income taxes	42.6		99.3		93.3
Interest	41.0		49.5		31.3
General vendor accruals	40.1		57.8		46.1
Freight	40.1		34.7		27.0
Lease liability - current	27.5		32.2		29.8
Lag & cancellation charges	26.9		51.2		48.9
Defined contributions plans	23.0		16.0		21.4
Severance	22.7		51.0		50.2
Professional fees	15.6		18.6		18.2
Participations and residuals	8.9		18.3		8.8
Insurance	8.2		12.3		11.3
Accrued expenses - productions	0.7		0.5		0.7

Other	53.3		42.2		35.1
Total accrued liabilities	$	1,032.2	$	1,132.5	$	1,059.8

Prepaid expenses and other current assets include contract assets, current of $129.8 million, $173.6 million, and $179.5 million as of September 28, 2025, September 29, 2024, and December 29, 2024, respectively.

Other assets include deferred tax assets of $376.5 million, $407.1 million, and $424.6 million as of September 28, 2025, September 29, 2024, and December 29, 2024, respectively, and unamortized software development costs of $359.9 million, $232.6 million, and $264.4 million as of September 28, 2025, September 29, 2024, and December 29, 2024, respectively.