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Segment Reporting
 6 Months Ended
Jun. 27, 2021
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
Hasbro is a global play and entertainment company with a broad portfolio of brands and entertainment content spanning toys, games, licensed products ranging from traditional to digital, and film, television and music entertainment. In the first quarter of 2020 the Company completed its acquisition of the global independent studio, eOne. Throughout 2020, the Company successfully integrated many parts of the eOne business and started to achieve synergies as a combined company. Effective for the three months ended March 28, 2021, the Company realigned its reportable segment structure to achieve the following; (1) to align with changes to its business structure subsequent to the integration of eOne, and (2) to reflect changes to its reporting structure and provide transparency into how operating performance is measured. The Company's three principal reportable segments are (i) Consumer Products, (ii) Wizards of the Coast & Digital Gaming, and (iii) Entertainment.
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. The Wizards of the Coast & 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. The Entertainment segment engages in the development, acquisition, production, financing, distribution and sale of world-class entertainment content including film, scripted and unscripted television, family programming, digital content, music production and sales, and live entertainment.
The significant accounting policies of the Company's segments are the same as those referenced in Note 1.
Results shown for the quarter and six months ended June 27, 2021 are not necessarily representative of those which may be expected for the full year 2021, nor were those of the comparable 2020 periods representative of those actually experienced for the full year 2020. Similarly, such results are not necessarily those which would be achieved were each segment an unaffiliated business enterprise.
Reclassifications of certain prior year segment results and account balances have been made to conform to the current-year presentation. None of the segment changes impact the Company's previously reported consolidated net revenue, operating profits, net earnings or net earnings per share.
Information by segment and a reconciliation to reported amounts for the quarters and six months ended June 27, 2021 and June 28, 2020 are as follows:
Quarter Ended
June 27, 2021June 28, 2020
Net revenuesExternal
Affiliate (b)
External
Affiliate (b)
Consumer Products$689.2 $(96.9)$519.5 $(103.1)
Wizards of the Coast & Digital Gaming406.3 (29.7)186.7 (17.9)
Entertainment226.7 (12.6)154.1 (0.8)
Corporate and Other (b)
— 139.2 — 121.8 
$1,322.2 $— $860.3 $— 
Six Months Ended
June 27, 2021June 28, 2020
Net revenuesExternal
Affiliate (b)
External
Affiliate (b)
Consumer Products$1,343.1 $(167.2)$1,092.0 $(158.7)
Wizards of the Coast & Digital Gaming648.5 (55.1)397.3 (33.0)
Entertainment445.4 (26.7)476.6 (1.7)
Corporate and Other (b)
— 249.0 — 193.4 
$2,437.0 $— $1,965.9 $— 
Quarter EndedSix Months Ended
Operating profit (loss)June 27,
2021		June 28,
2020		June 27,
2021		June 28,
2020
Consumer Products$17.8 $(45.3)$50.1 $(55.0)
Wizards of the Coast & Digital Gaming192.9 74.1 302.9 169.9 
Entertainment(113.7)(13.5)(96.7)(77.8)
Corporate and Other (b)
(20.4)(13.1)(32.4)(58.2)
$76.6 $2.2 $223.9 $(21.1)
Total assetsJune 27,
2021		June 28,
2020		December 27,
2020
Consumer Products (a)
$3,508.7 $5,432.1 $5,552.5 
Wizards of the Coast & Digital Gaming745.8 790.9 585.7 
Entertainment6,124.4 6,167.9 6,003.0 
Corporate and Other (b)
(276.7)(2,168.8)(1,322.9)
$10,102.2 $10,222.1 $10,818.3 
(a) During the second quarter of 2021, the Company adjusted certain inter-segment balance sheet amounts which impacted the Consumer Products and Corporate and Other total asset values. These adjustments did not impact the Company's total assets.
(b) Certain long-term assets, including property, plant and equipment, goodwill and other intangibles, which benefit multiple operating segments, are included in both Entertainment and Corporate and Other. Allocations of certain expenses related to these assets are made to the individual operating segments at the beginning of the year based on budgeted amounts. Any differences between actual and budgeted amounts are reflected in Corporate and Other because allocations are translated from the U.S. Dollar to local currency at budgeted rates when recorded. Corporate and Other also includes the elimination of inter-company balance sheet amounts.
The following table represents consolidated Consumer Products segment net revenues by major geographic region for the quarters and six months ended June 27, 2021 and June 28, 2020:
Quarter EndedSix Months Ended
June 27,
2021		June 28,
2020		June 27,
2021		June 28,
2020
North America$391.4 $283.0 $754.1 $604.8 
Europe176.5 141.9 365.0 298.6 
Asia Pacific68.4 60.7 133.2 118.9 
Latin America52.9 33.9 90.8 69.7 
Net revenues$689.2 $519.5 $1,343.1 $1,092.0 

The following table represents consolidated Entertainment segment net revenues by category for the quarters and six months ended June 27, 2021 and June 28, 2020:
Quarter EndedSix Months Ended
June 27,
2021		June 28,
2020		June 27,
2021		June 28,
2020
Film and TV$164.3 $108.9 $330.7 $372.9 
Family Brands26.1 18.8 44.9 44.7 
Music and Other36.3 26.4 69.8 59.0 
Net revenues$226.7 $154.1 $445.4 $476.6 
The following table presents consolidated net revenues by brand and entertainment portfolio for the quarters ended June 27, 2021 and June 28, 2020:
Quarter EndedSix Months Ended
June 27,
2021		June 28,
2020		June 27,
2021		June 28,
2020
Franchise Brands$649.9 $376.9 $1,141.4 $773.4 
Partner Brands212.0 138.3 400.0 320.6 
Hasbro Gaming (1)
147.1 137.0 283.4 277.1 
Emerging Brands117.0 75.9 221.7 170.1 
Entertainment196.2 132.2 390.5 424.7 
Total $1,322.2 $860.3 $2,437.0 $1,965.9 
(1) Hasbro's total gaming category, which includes all gaming net revenues, both those reported in Hasbro Gaming and those reported elsewhere, most notably MAGIC: THE GATHERING and MONOPOLY which are reported within Franchise Brands, totaled $519.4 million and $884.7 million for the quarter and six months ended June 27, 2021, respectively. For the quarter and six months ended June 28, 2020, total gaming revenues were $319.0 million and $659.5 million, respectively.