Sale of Entertainment One Film and TV Business

12 Months Ended

Dec. 29, 2024

Discontinued Operations and Disposal Groups [Abstract]

Sale of Entertainment One Film and TV Business

On December 27, 2023, the Company completed the sale of eOne Film and TV to Lionsgate, pursuant to the terms of an Equity Purchase Agreement dated August 3, 2023, among Hasbro and Lionsgate for a purchase price of $375.0 million in cash, subject to certain purchase price adjustments plus the assumption by Lionsgate of production financing loans. For the year ended December 29, 2024, the Company recorded a $37.4 million Loss on disposal of business on the Consolidated Statements of Operations associated with certain purchase price and related adjustments. During 2023, the Company recorded a $539.0 million Loss on disposal of business on the Consolidated Statements of Operations for the year ended December 31, 2023 based on the value of the net assets held by the eOne Film and TV, which included goodwill and intangible assets. The Company also recorded pre-tax cash transaction expenses of $35.1 million within Selling, distribution and administration expense on the Consolidated Statements of Operations for the year ended December 31, 2023.

During 2023, the operations of eOne Film and TV did not meet the criteria to be presented as discontinued operations in accordance with GAAP and eOne Film and TV did not represent an individually significant component of the Company’s business. As a result, income from operations before income taxes, attributable to eOne Film and TV, was recorded in the Company's Consolidated Statements of Operations, within the Entertainment segment,

through the sale transaction closing date. Loss before income taxes attributable to eOne Film and TV through the date of the transaction was $371.6 million and $7.3 million for fiscal years 2023 and 2022, respectively.

The following table presents the carrying amounts of the major classes of eOne Film and TV assets and liabilities sold on December 27, 2023. As of the closing date, assets and liabilities attributable to eOne Film and TV, were de-consolidated and there are no remaining carrying amounts within the Company's Consolidated Balance Sheets.


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

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