v3.26.1
Segment Reporting
 6 Months Ended
Jun. 28, 2026
Segment Reporting [Abstract]  
Segment Reporting 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 three 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 develops, produces, and monetizes 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 reportable 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. We do not present a measure of total assets for our reportable segments as this information is not used by the chief operating decision maker ("CODM") to allocate resources and assess performance.
Information by segment and a reconciliation to reported amounts for the three months ended June 28, 2026 are as follows:
Wizards of the Coast and Digital GamingConsumer ProductsEntertainmentCorporate and OtherTotal
Revenues$745.0 $525.9 $22.6 $(3.0)$1,290.5 
Less: Intersegment revenue81.2 62.9 9.8 (3.0)150.9 
Total net revenues663.8 463.0 12.8 — 1,139.6 
Cost of sales107.9 163.5 1.1 (0.1)272.4 
Program cost amortization— — 3.1 — 3.1 
Royalties42.6 58.8 (9.0)(2.5)89.9 
Advertising44.2 31.1 — (0.5)74.8 
Amortization of intangible assets2.1 8.4 4.1 — 14.6 
Distribution (1)
13.1 30.3 — 0.1 43.5 
Managed expense (2)
183.9 185.4 7.9 11.6 388.8 
Operating profit (loss)$270.0 $(14.5)$5.6 $(8.6)$252.5 
Reconciliation to Earnings before income taxes:
Interest expense46.5 
Interest income(12.9)
Other expense, net10.2 
Earnings before income taxes$208.7 
(1) Distribution expenses consist of shipping and warehousing expense and are 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 June 29, 2025 are as follows:
Wizards of the Coast and Digital GamingConsumer ProductsEntertainmentCorporate and OtherTotal
Revenues$571.2 $493.4 $28.1 $41.2 $1,133.9 
Less: Intersegment revenue48.8 51.0 12.1 41.2 153.1 
Total net revenues522.4 442.4 16.0 — 980.8 
Cost of sales78.2 145.5 1.6 — 225.3 
Program cost amortization— — 6.2 — 6.2 
Royalties40.6 56.7 (11.5)(1.3)84.5 
Advertising26.8 36.6 0.1 0.1 63.6 
Amortization of intangible assets2.1 10.1 4.9 0.1 17.2 
Distribution (1)
10.9 33.3 — 0.9 45.1 
Managed expense (2)
121.9 1,189.7 8.6 16.9 1,337.1 
Operating profit (loss)$241.9 $(1,029.5)$6.1 $(16.7)$(798.2)
Reconciliation to Loss before income taxes:
Interest expense40.6 
Interest income(5.4)
Other income, net(18.7)
Loss before income taxes$(814.7)
(1) Distribution expenses consist of shipping and warehousing expense and are included in Selling, distribution and administration in the Consolidated Statement of Operations.
(2) Managed expenses consist of product development, selling and administrative expense, and impairment of goodwill. 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 Impairment of goodwill 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 certain reporting units within the Consumer Products segment. Refer to Note 7, Goodwill, to the consolidated financial statements for further information.
Information by segment and a reconciliation to reported amounts for the six months ended June 28, 2026 are as follows:
Wizards of the Coast and Digital GamingConsumer ProductsEntertainmentCorporate and OtherTotal
Revenues$1,397.9 $960.8 $56.3 $(11.4)$2,403.6 
Less: Intersegment revenue152.1 99.9 23.2 (11.4)263.8 
Total net revenues1,245.8 860.9 33.1 — 2,139.8 
Cost of Sales202.4 304.4 1.7 — 508.5 
Program Cost Amortization— — 7.1 — 7.1 
Royalties70.4 122.1 (22.0)(2.9)167.6 
Advertising78.7 57.0 — (0.5)135.2 
Amortization of intangible assets4.2 16.8 8.3 (0.1)29.2 
Distribution (1)
21.1 63.6 — 0.2 84.9 
Managed expense (2)
301.3 359.0 15.1 9.1 684.5 
Operating profit (loss)$567.7 $(62.0)$22.9 $(5.8)$522.8 
Reconciliation to Earnings before income taxes:
Interest expense88.3 
Interest income(23.0)
Other expense, net4.7 
Earnings before income taxes$452.8 
(1) Distribution expenses consist of shipping and warehousing expense and are 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 six months ended June 29, 2025 are as follows:
Wizards of the Coast and Digital GamingConsumer ProductsEntertainmentCorporate and OtherTotal
Revenues$1,076.9 $926.8 $66.1 $70.0 $2,139.8 
Less: Intersegment revenue92.4 86.1 23.4 70.0 271.9 
Total net revenues984.5 840.7 42.7 — 1,867.9 
Cost of Sales152.0 275.3 2.7 (0.2)429.8 
Program Cost Amortization— — 13.6 — 13.6 
Royalties50.8 107.4 (19.9)3.2 141.5 
Advertising53.1 67.1 0.2 (1.4)119.0 
Amortization of intangible assets4.2 20.3 9.6 0.1 34.2 
Distribution (1)
20.0 65.1 — 0.2 85.3 
Managed expense (2)
232.6 1,379.0 41.4 19.0 1,672.0 
Operating profit (loss)$471.8 $(1,073.5)$(4.9)$(20.9)$(627.5)
Reconciliation to Loss before income taxes:
Interest expense82.2 
Interest income(14.3)
Other income, net(17.3)
Loss before income taxes$(678.1)
(1) Distribution expenses consist of shipping and warehousing expense and are 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. 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.
Other supplemental information by segments is as follows:
Three Months EndedSix Months Ended
June 28, 2026June 29, 2025June 28,
2026		June 29,
2025
Depreciation and intangible asset amortization: (1)
Wizards of the Coast and Digital Gaming$3.9 $4.3 $8.3 $8.9 
Consumer Products21.0 24.8 36.7 43.1 
Entertainment4.4 5.2 8.9 10.3 
Corporate and Other2.7 (2.4)4.0 4.0 
Total$32.0 $31.9 $57.9 $66.3 
Additions to property, plant and equipment:
Wizards of the Coast and Digital Gaming$6.8 $5.4 $9.7 $7.1 
Consumer Products10.3 11.0 27.0 22.2 
Entertainment— — — 0.1 
Corporate and Other1.9 (0.3)4.5 0.5 
Total$19.0 $16.1 $41.2 $29.9 
(1) The amounts of depreciation disclosed by reportable segments are included within Cost of sales and Selling, distribution and administration in the Consolidated Statement of Operations. Intangible asset amortization is included within Amortization of intangible assets in the Consolidated Statement of Operations.