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Segment Reporting
 3 Months Ended
Apr. 02, 2023
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, as well as film and television entertainment. The Company's three principal reportable segments are (i) Consumer Products, (ii) Wizards of the Coast and 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 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. The Entertainment segment engages in the development, acquisition, production, distribution and sale of world-class entertainment content including film, scripted and unscripted television, family programming, digital content 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 ended April 2, 2023 are not necessarily representative of those which may be expected for the full year 2023, nor were those of the comparable 2022 periods representative of those actually experienced for the full year 2022. 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 April 2, 2023 and March 27, 2022 are as follows:
Quarter Ended
April 2, 2023March 27, 2022
Net revenuesExternal
Affiliate (b)
External
Affiliate (b)
Consumer Products$520.4 $73.3 $672.8 $91.9 
Wizards of the Coast and Digital Gaming295.2 47.8 262.8 29.8 
Entertainment185.4 13.1 227.5 13.9 
Corporate and Other (a)
— (134.2)— (135.6)
$1,001.0 $— $1,163.1 $— 
Quarter Ended
Operating profit (loss)April 2,
2023		March 27,
2022
Consumer Products (a)
$(46.0)$8.6 
Wizards of the Coast and Digital Gaming76.8 106.4 
Entertainment (a)
(8.7)12.2 
Corporate and Other (a)
(4.2)(7.2)
$17.9 $120.0 
Total assetsApril 2,
2023		March 27,
2022		December 25,
2022
Consumer Products $5,533.3 $4,817.9 $5,757.7 
Wizards of the Coast and Digital Gaming3,256.8 1,877.7 2,968.7 
Entertainment (a)
6,272.7 6,214.4 6,273.3 
Corporate and Other (a)
(6,139.1)(3,391.3)(5,703.8)
$8,923.7 $9,518.7 $9,295.9 
(a) 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 Corporate and Other 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. Beginning in 2022, the Company has allocated certain of the intangible amortization costs related to the assets acquired in the eOne Acquisition, between the Consumer Products and Entertainment segments. Corporate and Other also includes the elimination of inter-company balance sheet amounts.
(b) Amounts represent revenues from transactions with other operating segments that are included in the operating profit (loss) of the segment.
The following table represents consolidated Consumer Products segment net revenues by major geographic region for the quarters ended April 2, 2023 and March 27, 2022:
Quarter Ended
April 2,
2023		March 27,
2022
North America$279.1 $405.2 
Europe131.6 176.7 
Asia Pacific63.3 52.2 
Latin America46.4 38.7 
Net revenues$520.4 $672.8 
The following table represents consolidated Wizards of the Coast and Digital Gaming segment net revenues by category for the quarters ended April 2, 2023 and March 27, 2022:
Quarter Ended
April 2,
2023		March 27,
2022
Tabletop Gaming$217.9 $192.2 
Digital and Licensed Gaming77.3 70.6 
Net revenues$295.2 $262.8 
The following table represents consolidated Entertainment segment net revenues by category for the quarters ended April 2, 2023 and March 27, 2022:
Quarter Ended
April 2,
2023		March 27,
2022
Film and TV$168.4 $190.2 
Family Brands17.0 23.2 
Music and Other— 14.1 
Net revenues$185.4 $227.5 
Effective for the first quarter of 2023, the Company realigned its brand portfolios to correspond with the Blueprint 2.0 strategy. Net Revenues by Brand Portfolio below have been restated to present net revenues and operating profit under the realigned structure. See note 1 for more information on the Company's brand portfolio realignment.
The following table presents consolidated net revenues by brand portfolio for the quarters ended April 2, 2023 and March 27, 2022:
Quarter Ended
Net revenuesApril 2,
2023		March 27,
2022
Franchise Brands $613.4 $650.4 
Partner Brands132.7 206.5 
Portfolio Brands 92.0 112.6 
Non-Hasbro Branded Film & TV 162.9 193.6 
Total $1,001.0 $1,163.1 
Net revenues from Hasbro's Total Gaming category, including all gaming revenue, most notably DUNGEONS & DRAGONS, MAGIC: THE GATHERING and Hasbro Gaming, totaled $386.5 million and $378.8 million for the quarters ended April 2, 2023 and March 27, 2022, respectively, of which MAGIC: THE GATHERING contributed $229.1 million and $197.2 million, respectively.