Segment Reporting

3 Months Ended

Mar. 30, 2014

Segment Reporting (Thousands of Dollars) [Abstract]

Segment Reporting

(11) Segment Reporting

Hasbro is a worldwide leader in children's and family leisure time products and services with a broad portfolio of brands and entertainment properties across toys, games and licensed products ranging from traditional to high-tech and digital. The Company's segments are (i) U.S. and Canada, (ii) International, (iii) Entertainment and Licensing, and (iv) Global Operations.

The U.S. and Canada segment includes the marketing and selling of boys' action figures, vehicles and playsets, girls' toys, electronic toys and games, plush products, preschool toys and infant products, electronic interactive products, toy-related specialty products, traditional board games and puzzles and trading card and role-playing games primarily within the United States and Canada. Within the International segment, the Company markets and sells both toy and game products in markets outside of the U.S. and Canada, primarily in the European, Asia Pacific, and Latin American regions. The Company's Entertainment and Licensing segment includes the Company's lifestyle licensing, digital gaming, movie and television entertainment operations. The Global Operations segment is responsible for manufacturing and sourcing finished products for the Company's U.S. and Canada and International segments.

Segment performance is measured at the operating profit level. Included in Corporate and eliminations are certain corporate expenses, including substantially all costs incurred related to the 2013 business restructurings, the elimination of intersegment transactions and certain assets benefiting more than one segment. 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 eliminations. The accounting policies of the segments are the same as those referenced in note 1.

Results shown for the quarter are not necessarily representative of those which may be expected for the full year 2014, nor were those of the comparable 2013 period representative of those actually experienced for the full year 2013. Similarly, such results are not necessarily those which would be achieved were each segment an unaffiliated business enterprise.

Information by segment and a reconciliation to reported amounts for the quarters ended March 30, 2014 and March 31, 2013 are as follows:

	March 30, 2014					March 31, 2013
Net revenues	External		Affiliate			External		Affiliate
U.S. and Canada	$	337,699		1,210			342,059		1,029
International		305,475		71			289,813		199
Entertainment and Licensing		34,874		3,242			30,774		2,221
Global Operations (a)		1,405		251,540			1,048		214,286
Corporate and Eliminations		-		(256,063	)		-		(217,735	)
	$	679,453		-			663,694		-

	Quarter Ended
Operating profit (loss)	March 30, 2014			March 31, 2013
U.S. and Canada	$	35,763			37,743
International		2,414			(4,505	)
Entertainment and Licensing		5,982			5,285
Global Operations (a)		(1,744	)		(9,583	)
Corporate and Eliminations (b)		1,033			(18,313	)
	$	43,448			10,627

Total assets	March 30, 2014			March 31, 2013			December 29, 2013
U.S. and Canada	$	3,080,602			6,076,021			3,066,301
International		1,900,304			1,874,583			2,233,115
Entertainment and Licensing		705,895			1,185,905			691,795
Global Operations		2,185,436			2,527,454			2,172,816
Corporate and Eliminations (b)		(3,842,800	)		(7,603,318	)		(3,761,760	)
	$	4,029,437			4,060,645			4,402,267

(a) The Global Operations segment derives substantially all of its revenues, and thus its operating results, from intersegment activities.

(b) Certain long-term assets, including property, plant and equipment, goodwill and other intangibles, which benefit multiple operating segments, are included in Corporate and eliminations. Allocations of certain expenses related to these assets to the individual operating segments are done at the beginning of the year based on budgeted amounts. Any differences between actual and budgeted amounts are reflected in Corporate and eliminations. Corporate and eliminations also includes the elimination of inter-company balance sheet amounts. During 2013, certain inter-company balances were settled between each of the U.S. and Canada segment, Entertainment and Licensing segment and Corporate and eliminations. This reduced the amount of reported total assets of the U.S. and Canada and Entertainment and Licensing segments and increased the amount reported in Corporate and eliminations at March 30, 2014 and December 29, 2013 compared to March 31, 2013.

The following table represents consolidated International segment net revenues by major geographic region for the quarters ended March 30, 2014 and March 31, 2013.

	Quarter Ended
	March 30, 2014		March 31, 2013
Europe	$	207,542		192,589
Latin America		53,284		45,713
Asia Pacific		44,649		51,511
Net revenues	$	305,475		289,813

The following table presents consolidated net revenues by class of principal products for the quarters ended March 30, 2014 and March 31, 2013.

	Quarter Ended
	March 30, 2014		March 31, 2013
Boys	$	247,775		242,796
Games		220,526		230,915
Girls		138,700		114,774
Preschool		72,452		75,209
Net revenues	$	679,453		663,694