Segment Reporting (Tables)

3 Months Ended

Mar. 30, 2025

Schedule of Segment Reporting Information, by Segment

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


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

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

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

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

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


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

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

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

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

Schedule of Total Assets and Other Supplemental Information by Segment

Total assets information by segments is as follows:


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

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

Other supplemental information by segments are as follows:


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

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