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Segment Reporting
 9 Months Ended
Sep. 29, 2024
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
Hasbro is a game, toy, and intellectual property company with a broad portfolio of brands and entertainment content spanning toys, games, licensed products ranging from traditional to digital, as well as film and television entertainment. The Company's reportable segments are Consumer Products, Wizards of the Coast and Digital Gaming, Entertainment and Corporate and Other.

•The Consumer Products segment engages in the sourcing, marketing and sales of toy and game products around the world. The Consumer Products business also promotes the Company's brands through the out-licensing of our trademarks, characters and other brand and intellectual property rights to third parties, through the sale of branded consumer products such as toys and apparel. Additionally, through license agreements with third parties, we develop and sell products based on popular third-party brands.

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

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

•Corporate and Other provides management and administrative services to the Company's principal reporting segments described above and consists of unallocated corporate expenses and administrative costs and activities not considered when evaluating segment performance as well as certain assets benefiting more than one segment.
Information by segment and a reconciliation to reported amounts for the three and nine months ended September 29, 2024 and October 1, 2023 are as follows:
Three Months EndedNine Months Ended
September 29,
2024		October 1,
2023		September 29,
2024		October 1,
2023
Net revenues:
Consumer Products$860.1 $956.9 $1,797.6 $2,132.5 
Wizards of the Coast and Digital Gaming404.0 423.6 1,172.3 1,094.4 
Entertainment17.2 122.9 64.0 487.5 
Corporate and Other— — — — 
Total net revenues$1,281.3 $1,503.4 $3,033.9 $3,714.4 
Intercompany revenues: (1)
Consumer Products$75.6 $72.7 $179.6 $226.8 
Wizards of the Coast and Digital Gaming46.0 43.5 119.9 136.6 
Entertainment17.2 14.8 37.7 39.4 
Corporate and Other(138.8)(131.0)(337.2)(402.8)
Total intercompany revenues:$— $— $— $— 
Operating profit (loss):
Consumer Products (2)$121.0 $96.1 $64.8 $61.5 
Wizards of the Coast and Digital Gaming181.2 203.4 551.1 422.5 
Entertainment (3)9.8 (468.5)14.6 (801.4)
Corporate and Other (3) (4)(10.1)(0.5)(0.3)(22.8)
Total Operating profit (loss)301.9 (169.5)630.2 (340.2)
Interest expense46.2 47.1 127.7 140.0 
Interest income(14.7)(3.8)(36.0)(15.6)
Other non-operating expense (income)(19.9)2.2 (15.7)(0.7)
Earnings (loss) before income taxes$290.3 $(215.0)$554.2 $(463.9)

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

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

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

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