• Third quarter 2020 revenues were $1.78 billion, down 4% on a pro forma basis
    • Revenue grew 9% in the U.S. and Canada segment and 7% in the European region; revenue grew 50% in ecomm channels globally
    • eOne TV and Film revenue decline reflects entertainment delivery delays due to live-action production shutdowns and the ongoing, gradual return to production
  • Operating profit of $336.6 million or 18.9% of revenues; Net earnings of $220.9 million or $1.61 per diluted share
    • Adjusted operating profit of $367.2 million or 20.7% of revenues, an expansion of 230 basis points year-over-year
    • Adjusted net earnings of $258.9 million, or $1.88 per diluted share
  • Substantial liquidity and access to cash, including quarter ending cash of $1.13 billion and year-to-date operating cash flow of $494.3 million

PAWTUCKET, R.I.--(BUSINESS WIRE)--$HAS #HAS--Hasbro, Inc. (NASDAQ: HAS), a global play and entertainment company, today reported financial results for the third quarter 2020.


Net revenues for the third quarter 2020 were $1.78 billion versus $1.86 billion pro forma revenues in 2019, a decline of 4%. Foreign exchange had a $1.0 million negative impact on third quarter 2020 revenues. 2019 pro forma results reflect the combination of the results of Hasbro and Entertainment One Ltd. (eOne) for periods prior to Hasbro’s acquisition of eOne in the first quarter of 2020.

Net earnings for the third quarter 2020 were $220.9 million, or $1.61 per diluted share, versus pro forma net earnings of $216.5 million, or $1.57 per diluted share, in 2019. Third quarter 2020 net earnings included $19.6 million after tax of purchased intangible amortization associated with the eOne acquisition, $13.7 million of incremental tax expense related to a change in the U.K. tax code and $4.7 million after tax of acquisition and related costs. Excluding these items, adjusted net earnings for the third quarter 2020 were $258.9 million, or $1.88 per diluted share. Third quarter 2019 pro forma net earnings included $19.1 million after tax of purchased intangible amortization at eOne and $3.5 million after tax associated with non-GAAP adjustments at eOne. Excluding these items, adjusted pro forma net earnings for the third quarter 2019 were $239.1 million, or $1.74 per diluted share. See the financial tables accompanying this press release for a reconciliation of as reported to pro forma and adjusted results, and a reconciliation of GAAP and non-GAAP financial measures.

"Hasbro's third quarter performance was the result of great work from our global team and continued growing consumer demand for Hasbro brands in most markets," said Brian Goldner, Hasbro’s chairman and chief executive officer. "Our broad, innovative product line, including leadership in gaming, excellence in global ecomm and compelling marketing campaigns drove meaningfully better performance in the third quarter. Building off this quarter's growth in toys, games and digital we are positioned to deliver a good holiday season. Live-action entertainment production is returning, and we are set to improve deliveries in the fourth quarter with some moving into 2021. While COVID-19 remains a factor in our global operations, consumers remain engaged in activities that create joy and personal connections and we are working purposefully to deliver them the world's best play and entertainment experiences, while remaining focused on the safety and well-being of our global teams and communities."

"Our teams delivered a very good third quarter, showcasing the breadth of Hasbro's portfolio, the benefits of our cost management efforts and the strength of our balance sheet," said Deborah Thomas, Hasbro’s chief financial officer. "Hasbro's partner factories and warehouses are open and operating and production is largely in line with demand. With a strong focus on cash collections, DSOs are down year-over-year and sequentially, and we ended the quarter with $1.13 billion in cash on the balance sheet. Importantly, as we look to the future, we remain focused on executing a good holiday, managing our expenses and investing to support our business plans for future years."

Third Quarter 2020 Major Segment and Brand Performance

Major Segments

Net Revenues

Operating Profit (Loss)

($ Millions)

($ Millions)

 

Pro
Forma

 

 

Pro
Forma

 

Q3 2020

Q3 2019

% Change

Q3 2020

Q3 2019

% Change

U.S. and Canada

$977.1

$898.3

9%

$263.0

$193.7

36%

International

$517.0

$561.1

-8%

$63.9

$67.2

-5%

Entertainment, Licensing and Digital

$89.0

$115.8

-23%

$32.8

$24.6

33%

eOne1

$193.5

$283.3

-32%

$(25.9)

$15.8

>-100%

Brand Portfolio

Net Revenues ($ Millions)

 

Pro Forma

 

Q3 2020

Q3 2019

% Change

Franchise Brands

$807.6

$779.7

4%

Partner Brands

$409.2

$427.0

-4%

Hasbro Gaming2

$239.2

$232.3

3%

Emerging Brands3

$155.0

$188.6

-18%

TV/Film/Entertainment4

$165.7

$230.9

-28%

1Both periods above are as reported, with 2019 including the pro forma results from eOne. eOne incurred certain Non-GAAP adjustments in both periods, which are discussed below. A reconciliation is included the attached schedule under the heading “Reconciliation of As Reported to Pro Forma Adjusted Operating Results.”

2Hasbro's total gaming category, including all gaming revenue, most notably MAGIC: THE GATHERING and MONOPOLY, totaled $543.1 million for the third quarter 2020, up 21% from revenues of $449.4 million for the third quarter 2019.

3Emerging Brands portfolio includes revenues from eOne brands PEPPA PIG, PJ MASKS and RICKY ZOOM as of first quarter 2020. For comparability, third quarter 2019 includes the pro forma revenues for those brands, which amounted to $52.4 million.

4TV/Film/Entertainment represents the remaining eOne revenues. For comparability, third quarter 2019 includes the pro forma revenues.

Revenue grew in Franchise Brands, led by MAGIC: THE GATHERING, and Hasbro Gaming, with growth in numerous games properties. Hasbro products for Lucasfilm's Star Wars and The Mandalorian also delivered strong revenue growth in the quarter.

Global consumer point of sale increased mid-single digits, including double-digit gains in the U.S., U.K., Germany/Austria/Switzerland, Australia and New Zealand. Point of sale declined in Latin America.

  • U.S. and Canada segment revenue and operating profit grew due to gains in Franchise Brands, led by MAGIC: THE GATHERING, as well as growth in Emerging Brands and Hasbro Gaming. Operating profit grew primarily as a result of higher revenues and the favorable mix of those revenues, including MAGIC: THE GATHERING.
  • International segment revenues and operating profit declined, primarily driven by declines in Latin America. Revenues grew in the European region. The International segment operating profit declined as result of the lower revenues and efforts to clear retail inventory in Latin America. This was partially offset by favorable product mix and cost management.
  • Entertainment, Licensing and Digital segment revenues declined as compared to 2019 which included the Transformers Bumblebee film revenue, partially offset by growth in digital gaming. Operating profit increased due to favorable mix from growth in licensed digital gaming, lower advertising related to the launch of Magic: The Gathering Arena in 2019 and lower development expenses due to the closure of Backflip Studios in late 2019.
  • eOne segment pro forma revenues declined in the quarter primarily due to lower TV and Film revenues as well as lower Family Brands revenue. Within TV and Film, due to COVID-19 live-action productions and theaters globally were shut down for most of the quarter, and these are gradually reopening, depending on geography. Demand for stories and content as well as viewership remain high. The teams have a robust development slate of over 150 active television and film projects including more than 30 Hasbro properties. Within television, produced/acquired content half hours decreased due to production shutdowns. Within film, box office revenues declined as a result of theater closures. Within Family Brands, engagement in animated content for PEPPA PIG and PJ MASKS remains strong, but revenues declined on lower consumer licensee revenues and lower advertising revenue from the YouTube platform. In music, revenue was negatively impacted by the loss of live events and associated artist promotions, as well as lower royalties from licensed and publishing music rights.

    For the eOne segment, third quarter 2020 operating profit included $24.7 million of purchased intangible amortization associated with the fair value of acquired intangible assets. Third quarter 2019 pro forma operating profit included $24.6 million of purchased intangible amortization and $4.6 million of prior restructuring and other costs. Adjusted pro forma operating profit for the eOne segment decreased due to the decline in revenues, partially offset by the related declines in program amortization, advertising expense and royalty expense.

Conference Call Webcast
Hasbro will webcast its third quarter 2020 earnings conference call at 8:30 a.m. Eastern Time today. To listen to the live webcast and access the accompanying presentation slides, please go to https://investor.hasbro.com. The replay of the call will be available on Hasbro’s web site approximately 2 hours following completion of the call.

About Hasbro
Hasbro (NASDAQ: HAS) is a global play and entertainment company committed to Creating the World's Best Play and Entertainment Experiences. From toys, games and consumer products to television, movies, digital gaming, live-action, music, and virtual reality experiences, Hasbro connects to global audiences by bringing to life great innovations, stories and brands across established and inventive platforms. Hasbro’s iconic brands include NERF, MAGIC: THE GATHERING, MY LITTLE PONY, TRANSFORMERS, PLAY-DOH, MONOPOLY, BABY ALIVE, POWER RANGERS, PEPPA PIG and PJ MASKS, as well as premier partner brands. Through its global entertainment studio, eOne, Hasbro is building its brands globally through great storytelling and content on all screens. Hasbro is committed to making the world a better place for all children and all families through corporate social responsibility and philanthropy. Hasbro ranked among the 2020 100 Best Corporate Citizens by 3BL Media, has been named one of the World’s Most Ethical Companies® by Ethisphere Institute for the past nine years, and one of America’s Most JUST Companies by Forbes and JUST Capital for the past four years. We routinely share important business and brand updates on our Investor Relations website, Newsroom and social channels (@Hasbro on Twitter and Instagram, and @HasbroOfficial on Facebook.)

© 2020 Hasbro, Inc. All Rights Reserved.

Safe Harbor
Certain statements in this release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, which may be identified by the use of forward-looking words or phrases, include statements relating to: the impact of, and actions and initiatives taken and planned to be taken to, try and manage the negative impact of the global coronavirus outbreak on our business; our expectations concerning the upcoming holiday season and our future results; and our working capital and liquidity. Our actual actions or results may differ materially from those expected or anticipated in the forward-looking statements due to both known and unknown risks and uncertainties. Factors that might cause such a difference include, but are not limited to:

  • our ability to successfully develop and execute plans to mitigate the negative impact of the coronavirus on our business;
  • our ability to design, develop, produce, manufacture, source and ship products on a timely and cost-effective and profitable basis;
  • rapidly changing consumer interests in the types of products and entertainment we offer;
  • the challenge of developing and offering products and storytelling experiences that are sought after by children, families and audiences given increasing technology and entertainment offerings available;
  • our ability to develop and distribute engaging storytelling across media to drive brand awareness;
  • our dependence on third party relationships, including with third party manufacturers, licensors of brands, studios, content producers and entertainment distribution channels;
  • our ability to successfully compete in the global play and entertainment industry, including with manufacturers, marketers, and sellers of toys and games, digital gaming products and digital media, as well as with film studios, television production companies and independent distributors and content producers;
  • our ability to successfully evolve and transform our business and capabilities to address a changing global consumer landscape and retail environment, including changing inventories policies of our customers and increased emphasis on ecommerce;
  • our ability to develop new and expanded areas of our business, such as through eOne, Wizards of the Coast, and our other entertainment, digital gaming and esports initiatives;
  • risks associated with international operations, such as currency conversion, currency fluctuations, the imposition of tariffs, quotas, border adjustment taxes or other protectionist measures, and other challenges in the territories in which we operate;
  • our ability to successfully implement actions to lessen the impact of potential and enacted tariffs imposed on our products, including any changes to our supply chain, inventory management, sales policies or pricing of our products;
  • downturns in global and regional economic conditions impacting one or more of the markets in which we sell products, which can negatively impact our retail customers and consumers, result in lower employment levels, consumer disposable income, retailer inventories and spending, including lower spending on purchases of our products;
  • other economic and public health conditions or regulatory changes in the markets in which we and our customers, suppliers and manufacturers operate, such as higher commodity prices, labor costs or transportation costs, or outbreaks of disease, such as the coronavirus, the occurrence of which could create work slowdowns, delays or shortages in production or shipment of products, increases in costs or delays in revenue;
  • the success of our key partner brands, including the ability to secure, maintain and extend agreements with our key partners or the risk of delays, increased costs or difficulties associated with any of our or our partners’ planned digital applications or media initiatives;
  • fluctuations in our business due to seasonality;
  • the concentration of our customers, potentially increasing the negative impact to our business of difficulties experienced by any of our customers or changes in their purchasing or selling patterns;
  • the bankruptcy or other lack of success of one of our significant retailers, licensees and other business partners;
  • risks relating to the use of third party manufacturers for the manufacturing of our products, including the concentration of manufacturing for many of our products in the People’s Republic of China and our ability to successfully diversify sourcing of our products to reduce reliance on sources of supply in China;
  • our ability to attract and retain talented employees;
  • our ability to realize the benefits of cost-savings and efficiency and/or revenue efficiency enhancing initiatives including initiatives to integrate eOne into our business;
  • our ability to protect our assets and intellectual property, including as a result of infringement, theft, misappropriation, cyber-attacks or other acts compromising the integrity of our assets or intellectual property;
  • risks relating to the impairment and/or write-offs of acquired products and films and television programs we acquire and produce;
  • risks relating to investments and acquisitions, such as our acquisition of eOne, which risks include: integration difficulties; inability to retain key personnel; diversion of management time and resources; failure to achieve anticipated benefits or synergies of acquisitions or investments; and risks relating to the additional indebtedness incurred in connection with a transaction;
  • the risk of product recalls or product liability suits and costs associated with product safety regulations;
  • changes in tax laws or regulations, or the interpretation and application of such laws and regulations, which may cause us to alter tax reserves or make other changes which significantly impact our reported financial results;
  • the impact of litigation or arbitration decisions or settlement actions; and
  • other risks and uncertainties as may be detailed from time to time in our public announcements and U.S. Securities and Exchange Commission (“SEC”) filings.

The statements contained herein are based on our current beliefs and expectations. We undertake no obligation to make any revisions to the forward-looking statements contained in this release or to update them to reflect events or circumstances occurring after the date of this release.

Non-GAAP Financial Measures
The financial tables accompanying this press release include non-GAAP financial measures as defined under SEC rules, specifically Adjusted operating profit, Adjusted net earnings and Adjusted earnings per diluted share, which exclude, where applicable, the 2020 impact of eOne acquisition and related costs, purchased intangible amortization, other severance costs and income tax expense associated with U.K tax reform. For 2019, Pro Forma Adjusted operating profit, Pro Forma Adjusted net earnings and Pro Forma Adjusted earnings per diluted share exclude the impact of charges associated with the settlement of the Company’s U.S. pension plan, purchased intangible amortization and certain charges incurred by eOne related to prior restructuring programs and acquisition-related charges. Also included in the financial tables are the non-GAAP financial measures of EBITDA, Adjusted EBITDA and Pro Forma Adjusted EBITDA. EBITDA represents net earnings attributable to Hasbro, Inc. excluding interest expense, income taxes, depreciation and amortization. Adjusted EBITDA also excludes the impact of the charges/gains noted above. As required by SEC rules, we have provided reconciliations on the attached schedules of these measures to the most directly comparable GAAP measure. Management believes that Adjusted net earnings, Adjusted earnings per diluted share and Adjusted operating profit provides investors with an understanding of the underlying performance of our business absent unusual events. Management believes that EBITDA and Adjusted EBITDA are appropriate measures for evaluating the operating performance of our business because they reflect the resources available for strategic opportunities including, among others, to invest in the business, strengthen the balance sheet and make strategic acquisitions. These non-GAAP measures should be considered in addition to, not as a substitute for, or superior to, net earnings or other measures of financial performance prepared in accordance with GAAP as more fully discussed in our consolidated financial statements and filings with the SEC. As used herein, "GAAP" refers to accounting principles generally accepted in the United States of America.

HAS-E

 

HASBRO, INC.

 

 

 

CONDENSED CONSOLIDATED BALANCE SHEETS

 

 

 

(Unaudited)

 

 

 

(Thousands of Dollars)

 

 

 

 

 

 

 

 

September 27, 2020

 

September 29, 2019

ASSETS

 

 

 

Cash and Cash Equivalents

$

1,132,405

 

 

$

1,060,432

 

Accounts Receivable, Net

1,438,360

 

 

1,416,879

 

Inventories

540,039

 

 

589,132

 

Prepaid Expenses and Other Current Assets

648,158

 

 

346,687

 

Total Current Assets

3,758,962

 

 

3,413,130

 

Property, Plant and Equipment, Net

477,154

 

 

371,881

 

Goodwill

3,644,118

 

 

485,042

 

Other Intangible Assets, Net

1,546,810

 

 

658,350

 

Other Assets

1,276,133

 

 

626,221

 

Total Assets

$

10,703,177

 

 

$

5,554,624

 

 

 

 

 

 

 

 

 

LIABILITIES, NONCONTROLLING INTERESTS AND SHAREHOLDERS' EQUITY

Short-term Borrowings

$

10,032

 

 

$

7,903

 

Current Portion of Long-term Debt

369,269

 

 

 

Accounts Payable and Accrued Liabilities

1,936,248

 

 

1,458,832

 

Total Current Liabilities

2,315,549

 

 

1,466,735

 

Long-term Debt

4,777,807

 

 

1,696,204

 

Other Liabilities

778,514

 

 

550,778

 

Total Liabilities

7,871,870

 

 

3,713,717

 

Redeemable Noncontrolling Interests

22,876

 

 

 

Total Shareholders' Equity

2,808,431

 

 

1,840,907

 

Total Liabilities, Noncontrolling Interests and Shareholders' Equity

$

10,703,177

 

 

$

5,554,624

 

 

HASBRO, INC.

 

 

 

 

 

 

 

 

 

 

CONSOLIDATED STATEMENTS OF OPERATIONS

 

 

 

 

 

 

 

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Thousands of Dollars and Shares, Except Per Share Data)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended

 

Nine Months Ended

 

 

September 27,
2020

 

% Net
Revenues

 

September 29,
2019

 

% Net
Revenues

 

September 27,
2020

 

% Net
Revenues

 

September 29,
2019

 

% Net
Revenues

Net Revenues

 

$

1,776,623

 

 

 

100.0

%

 

$

1,575,173

 

 

100.0

%

 

$

3,742,472

 

 

 

100.0

%

 

$

3,292,220

 

 

100.0

%

Costs and Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of Sales

 

610,105

 

 

 

34.3

%

 

627,119

 

 

39.8

%

 

1,126,044

 

 

 

30.1

%

 

1,230,800

 

 

37.4

%

Program Cost Amortization

 

85,424

 

 

 

4.8

%

 

28,028

 

 

1.8

%

 

268,245

 

 

 

7.2

%

 

58,105

 

 

1.8

%

Royalties

 

176,938

 

 

 

10.0

%

 

128,008

 

 

8.1

%

 

387,097

 

 

 

10.3

%

 

258,957

 

 

7.9

%

Product Development

 

62,709

 

 

 

3.5

%

 

67,354

 

 

4.3

%

 

174,863

 

 

 

4.7

%

 

189,246

 

 

5.7

%

Advertising

 

137,408

 

 

 

7.7

%

 

140,256

 

 

8.9

%

 

311,415

 

 

 

8.3

%

 

309,659

 

 

9.4

%

Amortization of Intangibles

 

36,172

 

 

 

2.0

%

 

11,814

 

 

0.8

%

 

107,685

 

 

 

2.9

%

 

35,445

 

 

1.1

%

Selling, Distribution and Administration

 

325,360

 

 

 

18.3

%

 

275,384

 

 

17.5

%

 

885,680

 

 

 

23.7

%

 

748,338

 

 

22.7

%

Acquisition and Related Costs

 

5,949

 

 

 

0.3

%

 

 

 

0.0

%

 

165,993

 

 

 

4.4

%

 

 

 

0.0

%

Operating Profit

 

336,558

 

 

 

18.9

%

 

297,210

 

 

18.9

%

 

315,450

 

 

 

8.4

%

 

461,670

 

 

14.0

%

Interest Expense

 

49,400

 

 

 

2.8

%

 

22,764

 

 

1.4

%

 

153,702

 

 

 

4.1

%

 

67,096

 

 

2.0

%

Other (Income) Expense, Net

 

(12,040

)

 

 

-0.7

%

 

14,700

 

 

0.9

%

 

(21,840

)

 

 

-0.6

%

 

99,125

 

 

3.0

%

Earnings before Income Taxes

 

299,198

 

 

 

16.8

%

 

259,746

 

 

16.5

%

 

183,588

 

 

 

4.9

%

 

295,449

 

 

9.0

%

Income Tax Expense

 

79,215

 

 

 

4.5

%

 

46,797

 

 

3.0

%

 

64,313

 

 

 

1.7

%

 

42,340

 

 

1.3

%

Net Earnings

 

219,983

 

 

 

12.4

%

 

212,949

 

 

13.5

%

 

119,275

 

 

 

3.2

%

 

253,109

 

 

7.7

%

Net (Loss) Earnings Attributable to Noncontrolling Interests

 

(915

)

 

 

-0.1

%

 

 

 

0.0

%

 

1,929

 

 

 

0.1

%

 

 

 

0.0

%

Net Earnings Attributable to Hasbro, Inc.

 

$

220,898

 

 

 

12.4

%

 

$

212,949

 

 

13.5

%

 

$

117,346

 

 

 

3.1

%

 

$

253,109

 

 

7.7

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Per Common Share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Earnings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.61

 

 

 

 

 

$

1.68

 

 

 

 

$

0.86

 

 

 

 

 

$

2.00

 

 

 

Diluted

 

$

1.61

 

 

 

 

 

$

1.67

 

 

 

 

$

0.85

 

 

 

 

 

$

1.99

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash Dividends Declared

 

$

0.68

 

 

 

 

 

$

0.68

 

 

 

 

$

2.04

 

 

 

 

 

$

2.04

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Number of Shares

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

137,258

 

 

 

 

 

126,453

 

 

 

 

137,214

 

 

 

 

 

126,356

 

 

 

Diluted

 

137,490

 

 

 

 

 

127,204

 

 

 

 

137,465

 

 

 

 

 

126,956

 

 

 

 

 

HASBRO, INC.

 

 

 

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

 

 

 

(Thousands of Dollars)

 

 

 

 

 

 

 

 

Nine Months Ended

 

September 27, 2020

 

September 29, 2019

Cash Flows from Operating Activities:

 

 

 

Net Earnings

$

119,275

 

 

 

$

253,109

 

 

Non-Cash Pension Charge

 

 

 

110,777

 

 

Other Non-Cash Adjustments

561,826

 

 

 

204,726

 

 

Changes in Operating Assets and Liabilities

(186,791

)

 

 

(179,044

)

 

Net Cash Provided by Operating Activities

494,310

 

 

 

389,568

 

 

 

 

 

 

Cash Flows from Investing Activities:

 

 

 

Additions to Property, Plant and Equipment

(92,059

)

 

 

(90,800

)

 

Acquisition, Net of Cash Acquired

(4,403,929

)

 

 

 

 

Other

24,297

 

 

 

4,340

 

 

Net Cash Utilized by Investing Activities

(4,471,691

)

 

 

(86,460

)

 

 

 

 

 

Cash Flows from Financing Activities:

 

 

 

Proceeds from Long-term Debt

1,036,037

 

 

 

 

 

Repayments of Long-term Debt

(147,324

)

 

 

 

 

Net Repayments of Short-term Borrowings

(319

)

 

 

(1,425

)

 

Purchases of Common Stock

 

 

 

(60,137

)

 

Stock-Based Compensation Transactions

1,830

 

 

 

29,737

 

 

Dividends Paid

(279,423

)

 

 

(250,760

)

 

Employee Taxes Paid for Shares Withheld

(5,935

)

 

 

(13,061

)

 

Redemption of Equity Instruments

(47,399

)

 

 

 

 

Deferred Acquisition Payments

 

 

 

(100,000

)

 

Debt Issuance Costs

 

 

 

(21,534

)

 

Other

(6,949

)

 

 

 

 

Net Cash Provided (Utilized) by Financing Activities

550,518

 

 

 

(417,180

)

 

 

 

 

 

Effect of Exchange Rate Changes on Cash

(21,101

)

 

 

(7,867

)

 

 

 

 

 

Cash and Cash Equivalents at Beginning of Year

4,580,369

 

 

 

1,182,371

 

 

 

 

 

 

Cash and Cash Equivalents at End of Period

$

1,132,405

 

 

 

$

1,060,432

 

 


Contacts

Investor Contact: Debbie Hancock | Hasbro, Inc. | (401) 727-5401 | debbie.hancock@hasbro.com
Press Contact: Julie Duffy | Hasbro, Inc. | (401) 727-5931 | julie.duffy@hasbro.com


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