Document_and_Entity_Informatio
Document and Entity Information (USD $) | 3 Months Ended | ||
Mar. 30, 2014 | Apr. 18, 2014 | Jun. 28, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'HASBRO INC | ' | ' |
Entity Central Index Key | '0000046080 | ' | ' |
Current Fiscal Year End Date | '--12-28 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Public Float | ' | ' | $5,179,219,000 |
Entity Common Stock, Shares Outstanding | ' | 129,811,566 | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Document Fiscal Period Focus | 'Q1 | ' | ' |
Document Type | '10-Q | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 30-Mar-14 | ' | ' |
Consolidated_Balance_Sheets_Un
Consolidated Balance Sheets (Unaudited) (USD $) | Mar. 30, 2014 | Dec. 29, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | |||
Current assets | ' | ' | ' |
Cash and cash equivalents | $792,249 | $682,449 | $1,067,039 |
Accounts receivable, less allowance for doubtful accounts of $28,000, $19,000 and $20,200 | 552,471 | 1,093,620 | 509,276 |
Inventories | 390,824 | 348,794 | 323,754 |
Prepaid expenses and other current assets | 406,561 | 355,594 | 350,327 |
Total current assets | 2,142,105 | 2,480,457 | 2,250,396 |
Property, plant and equipment, less accumulated depreciation of $509,900, $500,500 and $489,000 | 236,898 | 236,263 | 232,902 |
Other assets | ' | ' | ' |
Goodwill | 594,365 | 594,321 | 474,726 |
Other intangibles, less accumulated amortization of $679,200, $744,800 and $678,100 | 362,598 | 375,999 | 405,241 |
Other | 693,471 | 715,227 | 697,380 |
Total other assets | 1,650,434 | 1,685,547 | 1,577,347 |
Total assets | 4,029,437 | 4,402,267 | 4,060,645 |
Current liabilities | ' | ' | ' |
Short-term borrowings | 12,858 | 8,332 | 161,968 |
Current portion of long-term debt | 426,356 | 428,390 | 0 |
Accounts payable | 169,173 | 198,799 | 118,416 |
Accrued liabilities | 485,334 | 727,759 | 461,289 |
Total current liabilities | 1,093,721 | 1,363,280 | 741,673 |
Long-term debt | 959,895 | 959,895 | 1,394,387 |
Other liabilities | 337,219 | 351,304 | 461,497 |
Total liabilities | 2,390,835 | 2,674,479 | 2,597,557 |
Redeemable noncontrolling interests | 44,180 | 45,445 | 0 |
Shareholders' equity | ' | ' | ' |
Preference stock of $2.50 par value. Authorized 5,000,000 shares; none issued | 0 | 0 | 0 |
Common stock of $0.50 par value. Authorized 600,000,000 shares; issued 209,694,630 | 104,847 | 104,847 | 104,847 |
Additional paid-in capital | 753,143 | 734,181 | 667,932 |
Retained earnings | 3,408,259 | 3,432,176 | 3,296,140 |
Accumulated other comprehensive loss | -48,565 | -34,135 | -68,166 |
Treasury stock, at cost; 79,465,697 at March 30, 2014, 78,640,228 at December 29, 2013 and 80,362,337 at March 31, 2013 | -2,623,262 | -2,554,726 | -2,537,665 |
Total shareholders' equity | 1,594,422 | 1,682,343 | 1,463,088 |
Total liabilities, redeemable noncontrolling interests and shareholders' equity | $4,029,437 | $4,402,267 | $4,060,645 |
Consolidated_Balance_Sheets_Un1
Consolidated Balance Sheets (Unaudited) Parenthetical (USD $) | Mar. 30, 2014 | Dec. 29, 2013 | Mar. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | |||
Current assets | ' | ' | ' |
Accounts receivable, allowance for doubtful accounts | $20,800 | $19,000 | $20,200 |
Property, plant and equipment, accumulated depreciation | 509,900 | 500,500 | 489,000 |
Other assets | ' | ' | ' |
Other intangibles, accumulated amortization | $679,200 | $744,800 | $678,100 |
Shareholders' equity | ' | ' | ' |
Preference stock, par value (in dollars per share) | $2.50 | $2.50 | $2.50 |
Preference stock, authorized shares (in shares) | 5,000,000 | 5,000,000 | 5,000,000 |
Preference stock, issued (in shares) | 0 | 0 | 0 |
Common stock, par value (in dollars per share) | $0.50 | $0.50 | $0.50 |
Common stock, authorized shares (in shares) | 600,000,000 | 600,000,000 | 600,000,000 |
Common stock, issued (in shares) | 209,694,630 | 209,694,630 | 209,694,630 |
Treasury stock, at cost; shares (in shares) | 79,465,697 | 78,640,228 | 80,362,337 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 |
Consolidated Statements of Operations (Unaudited) [Abstract] | ' | ' |
Net revenues | $679,453 | $663,694 |
Costs and expenses | ' | ' |
Cost of sales | 258,545 | 267,572 |
Royalties | 49,581 | 49,392 |
Product development | 47,257 | 47,185 |
Advertising | 67,259 | 67,134 |
Amortization of intangibles | 13,402 | 11,416 |
Program production cost amortization | 4,658 | 5,723 |
Selling, distribution and administration | 195,303 | 204,645 |
Total costs and expenses | 636,005 | 653,067 |
Operating profit | 43,448 | 10,627 |
Non-operating (income) expense | ' | ' |
Interest expense | 22,428 | 22,979 |
Interest income | -1,326 | -1,481 |
Other (income) expense, net | -3,649 | 5,622 |
Total non-operating expense, net | 17,453 | 27,120 |
Earnings (loss) before income taxes | 25,995 | -16,493 |
Income tax benefit | -5,519 | -9,822 |
Net earnings (loss) | 31,514 | -6,671 |
Net Loss Attributable to Noncontrolling Interests | -573 | 0 |
Net Earnings (Loss) Attributable to Hasbro, Inc. | $32,087 | ($6,671) |
Net earnings (loss) attributable to Hasbro, Inc. per common share: | ' | ' |
Basic (in dollars per share) | $0.24 | ($0.05) |
Diluted (in dollars per share) | $0.24 | ($0.05) |
Cash dividends declared per common share (in dollars per share) | $0.43 | $0.40 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Earnings (Loss) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 |
Consolidated Statements of Comprehensive Earnings (Loss) [Abstract] | ' | ' |
Net earnings (loss) | $31,514 | ($6,671) |
Other comprehensive earnings (loss): | ' | ' |
Foreign currency translation adjustments | -2,294 | -7,348 |
Net (losses) gains on cash flow hedging activities, net of tax | -16,151 | 10,776 |
Unrealized holding gains on available-for-sale securities, net of tax | 2,243 | 0 |
Reclassifications to earnings (loss), net of tax: | ' | ' |
Net losses (gains) on cash flow hedging activities | 1,238 | -542 |
Unrecognized pension and postretirement amounts | 534 | 1,255 |
Total other comprehensive earnings (loss), net of tax | -14,430 | 4,141 |
Total comprehensive earnings (loss) | 17,084 | -2,530 |
Total comprehensive loss attributable to noncontrolling interests | -573 | 0 |
Total comprehensive earnings (loss) attributable to Hasbro, Inc. | $17,657 | ($2,530) |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 |
Cash flows from operating activities | ' | ' |
Net earnings (loss) | $31,514 | ($6,671) |
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities: | ' | ' |
Depreciation of plant and equipment | 21,505 | 19,351 |
Amortization of intangibles | 13,402 | 11,416 |
Program production cost amortization | 4,658 | 5,723 |
Deferred income taxes | 4,286 | -7,041 |
Stock-based compensation | 7,059 | 4,686 |
Change in operating assets and liabilities: | ' | ' |
Decrease in accounts receivable | 530,411 | 515,949 |
Increase in inventories | -41,992 | -11,254 |
Increase in prepaid expenses and other current assets | -27,328 | -22,645 |
Program Production Costs | -5,051 | -11,697 |
Decrease in accounts payable and accrued liabilities | -289,064 | -206,844 |
Other | -7,359 | 6,481 |
Net cash provided by operating activities | 242,041 | 297,454 |
Cash flows from investing activities | ' | ' |
Additions to property, plant and equipment | -22,239 | -24,201 |
Other | -4,839 | 3,598 |
Net cash utilized by investing activities | -27,078 | -20,603 |
Cash flows from financing activities | ' | ' |
Net proceeds from (repayments of) short-term borrowings | 5,035 | -62,605 |
Purchases of common stock | -79,913 | -22,213 |
Stock option transactions | 20,124 | 21,899 |
Excess tax benefits from stock-based compensation | 3,755 | 3,564 |
Dividends paid | -52,388 | 0 |
Net cash utilized by financing activities | -103,387 | -59,355 |
Effect of exchange rate changes on cash | -1,776 | -158 |
Increase in cash and cash equivalents | 109,800 | 217,338 |
Cash and cash equivalents at beginning of year | 682,449 | 849,701 |
Cash and cash equivalents at end of period | 792,249 | 1,067,039 |
Cash paid during the period for: | ' | ' |
Interest | 31,388 | 31,464 |
Income taxes | $36,967 | $23,072 |
Basis_of_Presentation
Basis of Presentation | 3 Months Ended |
Mar. 30, 2014 | |
Basis of Presentation [Abstract] | ' |
Basis of Presentation | ' |
(1) Basis of Presentation | |
In the opinion of management, the accompanying unaudited interim financial statements contain all normal and recurring adjustments necessary to present fairly the financial position of Hasbro, Inc. and all majority-owned subsidiaries ("Hasbro" or the "Company") as of March 30, 2014 and March 31, 2013, and the results of its operations and cash flows for the periods then ended in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and notes thereto. Actual results could differ from those estimates. | |
The quarters ended March 30, 2014 and March 31, 2013 are each 13-week periods. | |
The results of operations for the quarter ended March 30, 2014 is not necessarily indicative of results to be expected for the full year, nor were those of the comparable 2013 periods representative of those actually experienced for the full year 2013. | |
These condensed consolidated financial statements have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and disclosures normally included in the consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. The Company filed audited consolidated financial statements for the fiscal year ended December 29, 2013 in its Annual Report on Form 10-K, which includes all such information and disclosures and, accordingly, should be read in conjunction with the financial information included herein. | |
The Company's accounting policies are the same as those described in Note 1 to the Company's consolidated financial statements in its Annual Report on Form 10-K for the fiscal year ended December 29, 2013. | |
Substantially all of the Company's inventories consist of finished goods. |
Earnings_Loss_Per_Share
Earnings (Loss) Per Share | 3 Months Ended | ||||||||||||||||
Mar. 30, 2014 | |||||||||||||||||
Earnings (Loss) Per Share (Thousands of Dollars and Shares Except Per Share Data) [Abstract] | ' | ||||||||||||||||
Earnings Per Share | ' | ||||||||||||||||
(2) Earnings (Loss) Per Share | |||||||||||||||||
Net earnings (loss) per share data for the quarters ended March 30, 2014 and March 31, 2013 were computed as follows: | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Basic | Diluted | Basic | Diluted | ||||||||||||||
Net earnings (loss) attributable to Hasbro, Inc. | $ | 32,087 | 32,087 | (6,671 | ) | (6,671 | ) | ||||||||||
Average shares outstanding | 131,232 | 131,232 | 129,340 | 129,340 | |||||||||||||
Effect of dilutive securities: | |||||||||||||||||
Options and other share-based awards | - | 1,501 | - | - | |||||||||||||
Equivalent Shares | 131,232 | 132,733 | 129,340 | 129,340 | |||||||||||||
Net earnings (loss) attributable to Hasbro, Inc. per common share | $ | 0.24 | 0.24 | (0.05 | ) | (0.05 | ) | ||||||||||
Restricted stock-based awards and options to acquire shares totaling 676 and 8,731 at March 30, 2014 and March 31, 2013, respectively, were excluded from the calculation of diluted earnings per share because to include them would have been antidilutive. Of the amount for March 31, 2013, 7,559 would have been included in the calculation of diluted shares had the Company not had a net loss in the first quarter of 2013. Assuming that these awards and options were included, under the treasury stock method, they would have resulted in an additional 1,524 shares being included in the diluted earnings per share calculation for the quarter ended March 30, 2013 resulting in equivalent shares of 130,864. |
Other_Comprehensive_Earnings_L
Other Comprehensive Earnings (Loss) | 3 Months Ended | ||||||||||||||||||||
Mar. 30, 2014 | |||||||||||||||||||||
Other Comprehensive Earnings (Loss) [Abstract] | ' | ||||||||||||||||||||
Other Comprehensive Earnings (Loss) | ' | ||||||||||||||||||||
(3) Other Comprehensive Earnings (Loss) | |||||||||||||||||||||
Components of other comprehensive earnings (loss) are presented within the consolidated statements of comprehensive earnings (loss). The following table presents the related tax effects on changes in other comprehensive earnings (loss) for the quarters ended March 30, 2014 and March 31, 2013. | |||||||||||||||||||||
30-Mar-14 | 31-Mar-13 | ||||||||||||||||||||
Other comprehensive earnings (loss), tax effect: | |||||||||||||||||||||
Tax benefit (expense) on cash flow hedging activities | $ | 9,474 | (1,712 | ) | |||||||||||||||||
Tax expense on unrealized holding gains | (1,272 | ) | - | ||||||||||||||||||
Reclassifications to earnings, tax effect: | |||||||||||||||||||||
   Tax (benefit) expense on cash flow hedging activities | (223 | ) | 133 | ||||||||||||||||||
   Tax (benefit) expense on unrecognized pension and postretirement amounts reclassified to the consolidated statements of operations | (303 | ) | (712 | ) | |||||||||||||||||
Total tax effect on other comprehensive earnings (loss) | $ | 7,676 | (2,291 | ) | |||||||||||||||||
At March 30, 2014, the Company had remaining net deferred losses on hedging instruments, net of tax, of $22,226 in accumulated other comprehensive loss ("AOCE"). These instruments hedge payments related to inventory purchased in the first quarter of 2014 or forecasted to be purchased during 2014 and 2015, intercompany expenses expected to be paid or received during 2014 and 2015, cash receipts for sales made at the end of the first quarter of 2014 or forecasted to be made in the remainder of 2014 and interest expenses expected to be paid on an expected issuance of long-term debt in 2014. These amounts will be reclassified into the consolidated statements of operations upon the sale of the related inventory or recognition of the related sales, royalties or expenses. Of the net deferred losses included in AOCE at March 30, 2014, the Company expects approximately $6,441 to be reclassified to the consolidated statements of operations within the next 12 months. However, the amount ultimately realized in earnings is dependent on the fair value of the hedging instruments on the settlement dates. | |||||||||||||||||||||
Changes in the components of accumulated other comprehensive loss for the quarters ended March 30, 2014 and March 31, 2013 are as follows: | |||||||||||||||||||||
Pension and Postretirement Amounts | Gains (Losses) on Derivative Instruments | Unrealized Holding Gains on Available-for-Sale Securities | Foreign Currency Translation Adjustments | Total Accumulated Other Comprehensive Loss | |||||||||||||||||
2014 | |||||||||||||||||||||
Balance at December 29, 2013 | $ | (64,841 | ) | (7,313 | ) | - | 38,019 | (34,135 | ) | ||||||||||||
Current period other comprehensive earnings (loss) | 534 | (14,913 | ) | 2,243 | (2,294 | ) | (14,430 | ) | |||||||||||||
Balance at March 30, 2014 | $ | (64,307 | ) | (22,226 | ) | 2,243 | 35,725 | (48,565 | ) | ||||||||||||
2013 | |||||||||||||||||||||
Balance at December 30, 2012 | $ | (120,422 | ) | (1,008 | ) | - | 49,123 | (72,307 | ) | ||||||||||||
Current period other comprehensive earnings (loss) | 1,255 | 10,234 | - | (7,348 | ) | 4,141 | |||||||||||||||
Balance at March 31, 2013 | $ | (119,167 | ) | 9,226 | - | 41,775 | (68,166 | ) |
Financial_Instruments
Financial Instruments | 3 Months Ended | ||||||||||||||||||||||||
Mar. 30, 2014 | |||||||||||||||||||||||||
Financial Instruments (Thousands of Dollars) [Abstract] | ' | ||||||||||||||||||||||||
Financial Instruments | ' | ||||||||||||||||||||||||
(4) Financial Instruments | |||||||||||||||||||||||||
The Company's financial instruments include cash and cash equivalents, accounts receivable, short-term borrowings, accounts payable and certain accrued liabilities. At March 30, 2014, March 31, 2013 and December 29, 2013, the carrying cost of these instruments approximated their fair value. The Company's financial instruments at March 30, 2014, March 31, 2013 and December 29, 2013 also include certain assets and liabilities measured at fair value (see Notes 6 and 8) as well as long-term borrowings. The carrying costs and fair values of the Company's long-term borrowings as of March 30, 2014, March 31, 2013 and December 29, 2013 are as follows: | |||||||||||||||||||||||||
30-Mar-14 | 31-Mar-13 | 29-Dec-13 | |||||||||||||||||||||||
Carrying | Fair | Carrying | Fair | Carrying | Fair | ||||||||||||||||||||
Cost | Value | Cost | Value | Cost | Value | ||||||||||||||||||||
6.35% Notes Due 2040 | $ | 500,000 | 567,700 | 500,000 | 584,750 | 500,000 | 532,750 | ||||||||||||||||||
6.125% Notes Due 2014 | 426,356 | 427,678 | 434,492 | 449,395 | 428,390 | 435,838 | |||||||||||||||||||
6.30% Notes Due 2017 | 350,000 | 399,785 | 350,000 | 407,085 | 350,000 | 400,050 | |||||||||||||||||||
6.60% Debentures Due 2028 | 109,895 | 120,643 | 109,895 | 126,588 | 109,895 | 118,566 | |||||||||||||||||||
Total long-term debt | 1,386,251 | 1,515,806 | 1,394,387 | 1,567,818 | 1,388,285 | 1,487,204 | |||||||||||||||||||
Less: Current portion | 426,356 | 427,678 | - | - | 428,390 | 435,838 | |||||||||||||||||||
Long-term debt excluding current portion | $ | 959,895 | 1,088,128 | 1,394,387 | 1,567,818 | 959,895 | 1,051,366 | ||||||||||||||||||
The carrying cost of the 6.125 % Notes Due 2014 includes principal amounts of $425,000 as well as fair value adjustments of $1,356, $9,492, and $3,390 at March 30, 2014, March 31, 2013 and December 29, 2013, respectively, related to interest rate swaps. The interest rate swaps were terminated in November 2012 and the fair value adjustments at March 30, 2014, March 31, 2013 and December 29, 2013 represent the unamortized portions of the fair value of the interest rate swaps at the date of termination. At March 30, 2014 the principal amount and fair value adjustment associated with the 6.125 % Notes Due May 15, 2014, totaling $426,356, were included in the current portion of long-term debt. All other carrying costs represent principal amounts and were included in long-term debt excluding the current portion at March 30, 2014 and December 29, 2013. The total principal amount of long-term debt, including the current portion, at March 30, 2014, March 31, 2013 and December 29, 2013 was $1,384,895. | |||||||||||||||||||||||||
The fair values of the Company's long-term debt are considered Level 3 fair values (see Note 6 for further discussion of the fair value hierarchy) and are measured using the discounted future cash flows method. In addition to the debt terms, the valuation methodology includes an assumption of a discount rate that approximates the current yield on a similar debt security. This assumption is considered an unobservable input in that it reflects the Company's own assumptions about the inputs that market participants would use in pricing the asset or liability. The Company believes that this is the best information available for use in the fair value measurement. |
Income_Taxes
Income Taxes | 3 Months Ended |
Mar. 30, 2014 | |
Income Taxes (Thousands of Dollars) [Abstract] | ' |
Income Taxes | ' |
(5) Income Taxes | |
The Company and its subsidiaries file income tax returns in the United States and various state and international jurisdictions. In the normal course of business, the Company is regularly audited by U.S. federal, state and local and international tax authorities in various tax jurisdictions. | |
The U.S. Internal Revenue Service completed an examination related to the 2008 and 2009 U.S. federal income tax returns in 2013. During the first quarter of 2014, as a result of amending tax years 2010 through 2012 and making similar adjustments indentified in the completion of the 2008 and 2009 examinations, the Company recognized $12,159 of previously accrued unrecognized tax benefits including the reversal of related accrued interest, primarily related to the deductibility of certain expenses, as well as the tax treatment of certain subsidiary and other transactions. Of this amount, $324 was recorded as a reduction of deferred tax assets and the remainder as a reduction to income tax expense. The total income tax benefit resulting from the amended returns, including other adjustments, totaled $13,480 during the first quarter of 2014. | |
The Company is no longer subject to U.S. federal income tax examinations for years before 2013. With few exceptions, the Company is no longer subject to U.S. state or local and non-U.S. income tax examinations by tax authorities in its major jurisdictions for years before 2006. The Company is currently under income tax examination in several U.S. state and local and non-U.S. jurisdictions. | |
In connection with the Mexican tax examinations for the years 2000 to 2007, the Company has received tax assessments totaling approximately $252,140 (at March 30, 2014 exchange rates), which include interest, penalties and inflation updates, related to transfer pricing which the Company is vigorously defending. In order to continue the process of defending its position, the Company was required to guarantee the amount of the assessments for the years 2000 to 2004, as is usual and customary in Mexico with respect to these matters. Accordingly, as of March 30, 2014, bonds totaling approximately $190,660 (at March 30, 2014 exchange rates) have been provided to the Mexican government related to the 2000 to 2004 assessments, allowing the Company to defend its positions. The Company is not currently required to guarantee the amounts of the 2005 through 2007 assessments. The Company expects to be successful in sustaining its position with respect to these assessments as well as similar positions that may be taken by the Mexican tax authorities for periods subsequent to 2007 if these disputes continue through litigation and/or administrative processes. However, in the interest of resolving these open disputes and to provide for a mutually agreeable framework in future years, the Company is party to discussions with the Mexican tax authorities to determine if the two parties can reach an agreed settlement of these issues. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 3 Months Ended | ||||||||||||||||
Mar. 30, 2014 | |||||||||||||||||
Fair Value of Financial Instruments (Thousands of Dollars) [Abstract] | ' | ||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||
(6) Fair Value of Financial Instruments | |||||||||||||||||
The Company measures certain financial instruments at fair value. The fair value hierarchy consists of three levels: Level 1 fair values are based on quoted market prices in active markets for identical assets or liabilities that the entity has the ability to access; Level 2 fair values are those based on quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities; and Level 3 fair values are based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | |||||||||||||||||
Accounting standards permit entities to measure many financial instruments and certain other items at fair value and establish presentation and disclosure requirements designed to facilitate comparisons between entities that choose different measurement attributes for similar assets and liabilities. The Company has elected the fair value option for certain available-for-sale investments. At March 30, 2014, March 31, 2013 and December 29, 2013, these investments totaled $37,201, $23,907 and $28,048, respectively, and are included in prepaid expenses and other current assets in the consolidated balance sheets. The Company recorded net gains and interest income of $1,177 and $280 on these investments in other (income) expense, net for the quarters ended March 30, 2014 and March 31, 2013, respectively. | |||||||||||||||||
At March 30, 2014, March 31, 2013 and December 29, 2013, the Company had the following assets and liabilities measured at fair value in its consolidated balance sheets: | |||||||||||||||||
Fair Value Measurements Using: | |||||||||||||||||
Fair | Quoted | Significant | Significant | ||||||||||||||
Value | Prices in | Other | Unobservable | ||||||||||||||
Active | Observable | Inputs | |||||||||||||||
Markets | Inputs | (Level 3) | |||||||||||||||
for | (Level 2) | ||||||||||||||||
Identical | |||||||||||||||||
Assets | |||||||||||||||||
(Level 1) | |||||||||||||||||
30-Mar-14 | |||||||||||||||||
Assets: | |||||||||||||||||
Available-for-sale securities | $ | 40,984 | 3,783 | 31,538 | 5,663 | ||||||||||||
Derivatives | 1,311 | - | 1,311 | - | |||||||||||||
Total assets | $ | 42,295 | 3,783 | 32,849 | 5,663 | ||||||||||||
Liabilities: | |||||||||||||||||
Derivatives | $ | 33,053 | - | 33,053 | - | ||||||||||||
31-Mar-13 | |||||||||||||||||
Assets: | |||||||||||||||||
Available-for-sale securities | $ | 23,915 | 8 | 18,650 | 5,257 | ||||||||||||
Derivatives | 12,854 | - | 11,864 | 990 | |||||||||||||
Total assets | $ | 36,769 | 8 | 30,514 | 6,247 | ||||||||||||
Liabilities: | |||||||||||||||||
Derivatives | $ | 3,231 | - | 3,231 | - | ||||||||||||
29-Dec-13 | |||||||||||||||||
Assets: | |||||||||||||||||
Available-for-sale securities | $ | 28,048 | - | 22,564 | 5,484 | ||||||||||||
Derivatives | 4,627 | - | 4,627 | - | |||||||||||||
Total assets | $ | 32,675 | - | 27,191 | 5,484 | ||||||||||||
Liabilities: | |||||||||||||||||
Derivatives | $ | 12,330 | - | 12,330 | - | ||||||||||||
Available-for-sale securities include equity securities of one company quoted on an active public market as well as certain investments valued at net asset values quoted on private markets that are not active. These net asset values are predominantly based on underlying investments which are traded on an active market; investments are redeemable within 45 days. The Company also holds an available-for-sale investment in Brazil similar to a repurchase agreement; this investment is valued at the principal plus any interest accrued on the instrument. Lastly, the Company holds an available-for-sale investment which invests in hedge funds which contain financial instruments that are valued using certain estimates which are considered unobservable in that they reflect the investment manager's own assumptions about the inputs that market participants would use in pricing the asset or liability. The Company believes that these estimates are the best information available for use in the fair value of this investment. The Company's derivatives consist primarily of foreign currency forward and forward-starting interest rate contracts. The Company uses current forward rates of the respective foreign currencies and U.S. treasury interest rates to measure the fair value of these contracts. At March 31, 2013, the Company also had derivative instruments consisting of warrants to purchase common stock of an unrelated company. The Company used the Black-Scholes model to value these warrants. One of the inputs used in the Black-Scholes model, historical volatility, is considered an unobservable input in that it reflected the Company's own assumptions about the inputs that market participants would use in pricing the asset or liability. The Company believed that this is the best information available for use in the fair value measurement. There were no changes in these valuation techniques during 2014. | |||||||||||||||||
The following is a reconciliation of the beginning and ending balances of the fair value measurements of the Company's financial instruments which use significant unobservable inputs (Level 3): | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Balance at beginning of year | $ | 5,484 | 7,618 | ||||||||||||||
Gain (loss) from change in fair value | 179 | (1,371 | ) | ||||||||||||||
Balance at end of first quarter | $ | 5,663 | 6,247 |
Pension_and_Postretirement_Ben
Pension and Postretirement Benefits | 3 Months Ended | ||||||||||||||||
Mar. 30, 2014 | |||||||||||||||||
Pension and Postretirement Benefits (Thousands of Dollars) [Abstract] | ' | ||||||||||||||||
Pension and Postretirement Benefits | ' | ||||||||||||||||
(7) Pension and Postretirement Benefits | |||||||||||||||||
The components of the net periodic cost of the Company's defined benefit pension and other postretirement plans for the quarters ended March 30, 2014 and March 31, 2013 are as follows: | |||||||||||||||||
Quarter Ended | |||||||||||||||||
Pension | Postretirement | ||||||||||||||||
30-Mar-14 | 31-Mar-13 | 30-Mar-14 | 31-Mar-13 | ||||||||||||||
Service cost | $ | 971 | 1,502 | 137 | 188 | ||||||||||||
Interest cost | 5,058 | 4,795 | 332 | 345 | |||||||||||||
Expected return on assets | (5,560 | ) | (5,541 | ) | - | - | |||||||||||
Net amortization and deferrals | 1,252 | 2,392 | (113 | ) | (65 | ) | |||||||||||
Curtailment losses | - | 2,959 | - | - | |||||||||||||
Net periodic benefit cost | $ | 1,721 | 6,107 | 356 | 468 | ||||||||||||
During the first quarter of fiscal 2014, the Company made cash contributions to its defined benefit pension plans of approximately $1,100 in the aggregate. The Company expects to contribute approximately $5,300 during the remainder of fiscal 2014. |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 3 Months Ended | ||||||||||||||||||||||||
Mar. 30, 2014 | |||||||||||||||||||||||||
Derivative Financial Instruments (Thousands of Dollars) [Abstract] | ' | ||||||||||||||||||||||||
Derivative Financial Instruments | ' | ||||||||||||||||||||||||
(8) Derivative Financial Instruments | |||||||||||||||||||||||||
Hasbro uses foreign currency forward contracts to mitigate the impact of currency rate fluctuations on firmly committed and projected future foreign currency transactions. These over-the-counter contracts, which hedge future currency requirements related to purchases of inventory, product sales and other cross-border transactions not denominated in the functional currency of the business unit, are primarily denominated in United States and Hong Kong dollars, and Euros. Further, Hasbro uses forward-starting interest rate swap agreements to hedge anticipated interest payments. All contracts are entered into with a number of counterparties, all of which are major financial institutions. The Company believes that a default by a single counterparty would not have a material adverse effect on the financial condition of the Company. Hasbro does not enter into derivative financial instruments for speculative purposes. | |||||||||||||||||||||||||
In 2013, the Company also had warrants to purchase common stock of an unrelated company that constituted and were accounted for as derivatives. For additional information related to these warrants see Note 6. | |||||||||||||||||||||||||
Cash Flow Hedges | |||||||||||||||||||||||||
The Company uses foreign currency forward contracts to reduce the impact of currency rate fluctuations on firmly committed and projected future foreign currency transactions. All of the Company's designated foreign currency forward contracts are considered to be cash flow hedges. These instruments hedge a portion of the Company's currency requirements associated with anticipated inventory purchases, product sales and other cross-border transactions in 2014 and 2015. | |||||||||||||||||||||||||
At March 30, 2014, March 31, 2013 and December 29, 2013, the notional amounts and fair values of the Company's foreign currency forward contracts designated as cash flow hedging instruments were as follows: | |||||||||||||||||||||||||
30-Mar-14 | 31-Mar-13 | 29-Dec-13 | |||||||||||||||||||||||
Notional Amount | Fair | Notional | Fair | Notional | Fair | ||||||||||||||||||||
Hedged transaction | Value | Amount | Value | Amount | Value | ||||||||||||||||||||
Inventory purchases | $ | 609,689 | (6,966 | ) | 394,818 | 5,858 | 577,138 | (7,493 | ) | ||||||||||||||||
Intercompany royalty transactions | 2,812 | (2,403 | ) | 132,677 | 2,053 | 4,948 | (2,774 | ) | |||||||||||||||||
Sales | 161,760 | (1,155 | ) | 83,942 | 3,465 | 171,393 | (1,965 | ) | |||||||||||||||||
Other | 51,243 | (637 | ) | 23,746 | (22 | ) | 46,563 | 302 | |||||||||||||||||
Total | $ | 825,504 | (11,161 | ) | 635,183 | 11,354 | 800,042 | (11,930 | ) | ||||||||||||||||
The Company has a master agreement with each of its counterparties that allows for the netting of outstanding forward contracts. The fair values of the Company's foreign currency forward contracts designated as cash flow hedges are recorded in the consolidated balance sheets at March 30, 2014, March 31, 2013 and December 29, 2013 as follows: | |||||||||||||||||||||||||
30-Mar-14 | 31-Mar-13 | 29-Dec-13 | |||||||||||||||||||||||
Prepaid expenses and other current assets | |||||||||||||||||||||||||
Unrealized gains | $ | 999 | 10,324 | 1,088 | |||||||||||||||||||||
Unrealized losses | (647 | ) | (2,483 | ) | (702 | ) | |||||||||||||||||||
Net unrealized gain | $ | 352 | 7,841 | 386 | |||||||||||||||||||||
Other assets | |||||||||||||||||||||||||
Unrealized gains | $ | - | 4,023 | - | |||||||||||||||||||||
Accrued liabilities | |||||||||||||||||||||||||
Unrealized gains | $ | 4,597 | 1,095 | 3,425 | |||||||||||||||||||||
Unrealized losses | (13,946 | ) | (1,605 | ) | (13,671 | ) | |||||||||||||||||||
Net unrealized loss | $ | (9,349 | ) | (510 | ) | (10,246 | ) | ||||||||||||||||||
Other liabilities | |||||||||||||||||||||||||
Unrealized gains | $ | 256 | - | - | |||||||||||||||||||||
Unrealized losses | (2,420 | ) | - | (2,070 | ) | ||||||||||||||||||||
Net unrealized loss | $ | (2,164 | ) | - | (2,070 | ) | |||||||||||||||||||
Net gains (losses) on cash flow hedging activities have been reclassified from other comprehensive earnings (loss) to net earnings (loss) for the quarters ended March 30, 2014 and March 31, 2013 as follows: | |||||||||||||||||||||||||
Quarter Ended | |||||||||||||||||||||||||
30-Mar-14 | 31-Mar-13 | ||||||||||||||||||||||||
Statements of Operations Classification | |||||||||||||||||||||||||
Cost of sales | $ | (1,019 | ) | 341 | |||||||||||||||||||||
Royalties | (350 | ) | (141 | ) | |||||||||||||||||||||
Net revenues | (159 | ) | 475 | ||||||||||||||||||||||
Net realized (losses) gains | $ | (1,528 | ) | 675 | |||||||||||||||||||||
In addition, net gains (losses) of $65 and $(1) were reclassified to earnings as a result of hedge ineffectiveness for the quarters ended March 30, 2014 and March 31, 2013, respectively. | |||||||||||||||||||||||||
During the fourth quarter of 2013, the Company entered into forward-starting interest rate swap agreements to hedge the variability of the anticipated underlying U.S. Treasury interest rate associated with the expected issuance of long-term debt which will be utilized to repay the 6.125% Notes Due 2014 with a principal of $425,000. These derivative instruments are designated and effective as cash flow hedges. At March 30, 2014 and December 29, 2013, the total notional amounts of the Company's forward-starting interest rate swap agreements were $500,000 and $300,000, respectively. Unrealized (losses) gains of $(21,540) and $3,172 were recorded to the consolidated balance sheets as of March 30, 2014 and December 29, 2013, respectively. The instruments will be settled on the date of the issuance of the related debt and any gains or losses on these instruments at that time will be amortized to interest expense over the life of the debt using the effective interest rate method. | |||||||||||||||||||||||||
Undesignated Hedges | |||||||||||||||||||||||||
The Company also enters into foreign currency forward contracts to minimize the impact of changes in the fair value of intercompany loans due to foreign currency changes. Due to the nature of the derivative contracts involved, the Company does not use hedge accounting for these contracts. At March 30, 2014, March 31, 2013 and December 29, 2013 the total notional amounts of the Company's undesignated derivative instruments were $158,827, $109,433 and $294,888, respectively. | |||||||||||||||||||||||||
At March 30, 2014, March 31, 2013 and December 29, 2013, the fair values of the Company's undesignated derivative financial instruments were recorded in the consolidated balance sheets as follows: | |||||||||||||||||||||||||
30-Mar-14 | 31-Mar-13 | 29-Dec-13 | |||||||||||||||||||||||
Prepaid expenses and other current assets | |||||||||||||||||||||||||
Unrealized gains | $ | 1,218 | - | - | |||||||||||||||||||||
Unrealized losses | (421 | ) | - | - | |||||||||||||||||||||
Net unrealized gain | 797 | - | - | ||||||||||||||||||||||
Other assets | |||||||||||||||||||||||||
Unrealized gains | 163 | - | 1,069 | ||||||||||||||||||||||
Unrealized losses | (1 | ) | - | - | |||||||||||||||||||||
Net unrealized gain | 162 | - | 1,069 | ||||||||||||||||||||||
Accrued liabilities | |||||||||||||||||||||||||
Unrealized gains | - | 140 | 478 | ||||||||||||||||||||||
Unrealized losses | - | (1,123 | ) | (492 | ) | ||||||||||||||||||||
Net unrealized loss | - | (983 | ) | (14 | ) | ||||||||||||||||||||
Other liabilities | |||||||||||||||||||||||||
Unrealized loss | - | (1,738 | ) | - | |||||||||||||||||||||
Total unrealized gain (loss), net | $ | 959 | (2,721 | ) | 1,055 | ||||||||||||||||||||
The Company recorded net losses of $4,117 and $3,107 on these instruments to other (income) expense, net for the quarters ended March 30, 2014 and March 31, 2013, respectively, relating to the change in fair value of such derivatives, substantially offsetting gains and losses from the change in fair value of intercompany loans to which the contracts relate. | |||||||||||||||||||||||||
For additional information related to the Company's derivative financial instruments see Notes 4 and 6. | |||||||||||||||||||||||||
Acquisitions
Acquisitions | 12 Months Ended |
Dec. 29, 2013 | |
Acquisitions [Abstract] | ' |
Business Combination Disclosure [Text Block] | ' |
(9) Acquisitions | |
On July 8, 2013, the Company acquired a majority interest in Backflip Studios, LLC ("Backflip"), a mobile game developer based in Boulder, Colorado. The Company paid $112,000 in cash to acquire a 70% interest in Backflip. The Company is consolidating the financial statements of Backflip and reporting the 30% redeemable noncontrolling interests as a separate line in the consolidated balance sheets and statements of operations. | |
Based on a valuation of approximately $160,000, the Company has allocated approximately $6,000 to net tangible assets, $35,000 to identifiable intangible assets, $119,000 to goodwill, and $48,000 to redeemable noncontrolling interests. The valuation was based on an income approach which utilizes discounted future cash flows expected to be generated from the acquired business. Identifiable intangible assets include property rights which are being amortized over the projected revenue curve over a period of four years. The carrying value and amortization curve of these intangible assets are based on cash flows associated with game titles released and planned to be released as of the date of acquisition. Actual results achieved from these acquired game titles may impact the carrying value of these intangibles or the timing of amortization expense. Goodwill reflects the value fo the Company from leveraging Backflip's expertise in developing and marketing mobile digital games, including the continued expansion of its own brands in this arena. Goodwill will be tested for impairment at least annually during the fourth quarter of the Company's fiscal year, unless an event occurs or circumstances change that indicate that the carrying value may not be recoverable. | |
The $48,000 value of the redeemable noncontrolling interests has been presented in the consolidated balance sheets as temporary equity between liabilities and shareholders' equity. This presentation is required because the Company has the obligation to purchase the remaining 30% of Backflip in the future contingent on the achievement by Backflip of certain predetermined financial performance metrics. The Company does not know the ultimate timing that these predetermined financial metrics may be met and, thereby, cannot currently estimate the purchase price of the remaining 30%. | |
Actual and pro forma results have not been disclosed because they are not material to the consolidated financial statements. The balance of the redeemable noncontrolling interests was $44,180 at March 30, 2014 and $45,445 at December 29, 2013. Net loss attributable to noncontrolling interests for the quarter ended March 30, 2014 was $573. |
Equity_Method_Investment
Equity Method Investment | 3 Months Ended |
Mar. 30, 2014 | |
Equity Method Investment [Abstract] | ' |
Equity Method Investment | ' |
(10) Equity Method Investment | |
The Company owns a 50% interest in a joint venture, Hub Television Networks, LLC ("Hub Network"), with Discovery Communications, Inc.. Hub Network was established to create a cable television network in the United States dedicated to high-quality children's and family entertainment. During the quarters ended March 30, 2014 and March 31, 2013, the Company's share in the earnings (loss) of Hub Network was $1,336 and $(1,064), respectively. As of March 30, 2014, March 31, 2013 and December 29, 2013, the Company's investment in Hub Network totaled $323,212, $329,683 and $321,876, respectively. The Company monitors the valuation of its investment in Hub Network primarily based on a discounted cash flow model. The underlying cash flows are based on long-term financial plans for Hub Network, which include projections for growth in revenues and profitability. Should Hub Network not achieve its profitability and growth targets, the carrying value of the Company's investment may become impaired. |
Segment_Reporting
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: | |||||||||||||||||
30-Mar-14 | 31-Mar-13 | ||||||||||||||||
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) | 30-Mar-14 | 31-Mar-13 | |||||||||||||||
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 | 30-Mar-14 | 31-Mar-13 | 29-Dec-13 | ||||||||||||||
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 | |||||||||||||||||
30-Mar-14 | 31-Mar-13 | ||||||||||||||||
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 | |||||||||||||||||
30-Mar-14 | 31-Mar-13 | ||||||||||||||||
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 |
Earnings_Loss_Per_Share_Tables
Earnings (Loss) Per Share (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 30, 2014 | |||||||||||||||||
Earnings (Loss) Per Share (Thousands of Dollars and Shares Except Per Share Data) [Abstract] | ' | ||||||||||||||||
Earnings Per Share | ' | ||||||||||||||||
Net earnings (loss) per share data for the quarters ended March 30, 2014 and March 31, 2013 were computed as follows: | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Basic | Diluted | Basic | Diluted | ||||||||||||||
Net earnings (loss) attributable to Hasbro, Inc. | $ | 32,087 | 32,087 | (6,671 | ) | (6,671 | ) | ||||||||||
Average shares outstanding | 131,232 | 131,232 | 129,340 | 129,340 | |||||||||||||
Effect of dilutive securities: | |||||||||||||||||
Options and other share-based awards | - | 1,501 | - | - | |||||||||||||
Equivalent Shares | 131,232 | 132,733 | 129,340 | 129,340 | |||||||||||||
Net earnings (loss) attributable to Hasbro, Inc. per common share | $ | 0.24 | 0.24 | (0.05 | ) | (0.05 | ) | ||||||||||
Restricted stock-based awards and options to acquire shares totaling 676 and 8,731 at March 30, 2014 and March 31, 2013, respectively, were excluded from the calculation of diluted earnings per share because to include them would have been antidilutive. Of the amount for March 31, 2013, 7,559 would have been included in the calculation of diluted shares had the Company not had a net loss in the first quarter of 2013. Assuming that these awards and options were included, under the treasury stock method, they would have resulted in an additional 1,524 shares being included in the diluted earnings per share calculation for the quarter ended March 30, 2013 resulting in equivalent shares of 130,864. |
Other_Comprehensive_Earnings_L1
Other Comprehensive Earnings (Loss) (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 30, 2014 | |||||||||||||||||||||
Other Comprehensive Earnings (Loss) [Abstract] | ' | ||||||||||||||||||||
Schedule of Other Comprehensive Income, Tax Effect [Text Block] | ' | ||||||||||||||||||||
Components of other comprehensive earnings (loss) are presented within the consolidated statements of comprehensive earnings (loss). The following table presents the related tax effects on changes in other comprehensive earnings (loss) for the quarters ended March 30, 2014 and March 31, 2013. | |||||||||||||||||||||
30-Mar-14 | 31-Mar-13 | ||||||||||||||||||||
Other comprehensive earnings (loss), tax effect: | |||||||||||||||||||||
Tax benefit (expense) on cash flow hedging activities | $ | 9,474 | (1,712 | ) | |||||||||||||||||
Tax expense on unrealized holding gains | (1,272 | ) | - | ||||||||||||||||||
Reclassifications to earnings, tax effect: | |||||||||||||||||||||
   Tax (benefit) expense on cash flow hedging activities | (223 | ) | 133 | ||||||||||||||||||
   Tax (benefit) expense on unrecognized pension and postretirement amounts reclassified to the consolidated statements of operations | (303 | ) | (712 | ) | |||||||||||||||||
Total tax effect on other comprehensive earnings (loss) | $ | 7,676 | (2,291 | ) | |||||||||||||||||
At March 30, 2014, the Company had remaining net deferred losses on hedging instruments, net of tax, of $22,226 in accumulated other comprehensive loss ("AOCE"). These instruments hedge payments related to inventory purchased in the first quarter of 2014 or forecasted to be purchased during 2014 and 2015, intercompany expenses expected to be paid or received during 2014 and 2015, cash receipts for sales made at the end of the first quarter of 2014 or forecasted to be made in the remainder of 2014 and interest expenses expected to be paid on an expected issuance of long-term debt in 2014. These amounts will be reclassified into the consolidated statements of operations upon the sale of the related inventory or recognition of the related sales, royalties or expenses. Of the net deferred losses included in AOCE at March 30, 2014, the Company expects approximately $6,441 to be reclassified to the consolidated statements of operations within the next 12 months. However, the amount ultimately realized in earnings is dependent on the fair value of the hedging instruments on the settlement dates. | |||||||||||||||||||||
Schedule of Accumulated Other Comprehensive Earnings (Loss) | ' | ||||||||||||||||||||
Changes in the components of accumulated other comprehensive loss for the quarters ended March 30, 2014 and March 31, 2013 are as follows: | |||||||||||||||||||||
Pension and Postretirement Amounts | Gains (Losses) on Derivative Instruments | Unrealized Holding Gains on Available-for-Sale Securities | Foreign Currency Translation Adjustments | Total Accumulated Other Comprehensive Loss | |||||||||||||||||
2014 | |||||||||||||||||||||
Balance at December 29, 2013 | $ | (64,841 | ) | (7,313 | ) | - | 38,019 | (34,135 | ) | ||||||||||||
Current period other comprehensive earnings (loss) | 534 | (14,913 | ) | 2,243 | (2,294 | ) | (14,430 | ) | |||||||||||||
Balance at March 30, 2014 | $ | (64,307 | ) | (22,226 | ) | 2,243 | 35,725 | (48,565 | ) | ||||||||||||
2013 | |||||||||||||||||||||
Balance at December 30, 2012 | $ | (120,422 | ) | (1,008 | ) | - | 49,123 | (72,307 | ) | ||||||||||||
Current period other comprehensive earnings (loss) | 1,255 | 10,234 | - | (7,348 | ) | 4,141 | |||||||||||||||
Balance at March 31, 2013 | $ | (119,167 | ) | 9,226 | - | 41,775 | (68,166 | ) |
Financial_Instruments_Tables
Financial Instruments (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 30, 2014 | |||||||||||||||||||||||||
Financial Instruments (Thousands of Dollars) [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Long-term Debt Instruments | ' | ||||||||||||||||||||||||
The Company's financial instruments include cash and cash equivalents, accounts receivable, short-term borrowings, accounts payable and certain accrued liabilities. At March 30, 2014, March 31, 2013 and December 29, 2013, the carrying cost of these instruments approximated their fair value. The Company's financial instruments at March 30, 2014, March 31, 2013 and December 29, 2013 also include certain assets and liabilities measured at fair value (see Notes 6 and 8) as well as long-term borrowings. The carrying costs and fair values of the Company's long-term borrowings as of March 30, 2014, March 31, 2013 and December 29, 2013 are as follows: | |||||||||||||||||||||||||
30-Mar-14 | 31-Mar-13 | 29-Dec-13 | |||||||||||||||||||||||
Carrying | Fair | Carrying | Fair | Carrying | Fair | ||||||||||||||||||||
Cost | Value | Cost | Value | Cost | Value | ||||||||||||||||||||
6.35% Notes Due 2040 | $ | 500,000 | 567,700 | 500,000 | 584,750 | 500,000 | 532,750 | ||||||||||||||||||
6.125% Notes Due 2014 | 426,356 | 427,678 | 434,492 | 449,395 | 428,390 | 435,838 | |||||||||||||||||||
6.30% Notes Due 2017 | 350,000 | 399,785 | 350,000 | 407,085 | 350,000 | 400,050 | |||||||||||||||||||
6.60% Debentures Due 2028 | 109,895 | 120,643 | 109,895 | 126,588 | 109,895 | 118,566 | |||||||||||||||||||
Total long-term debt | 1,386,251 | 1,515,806 | 1,394,387 | 1,567,818 | 1,388,285 | 1,487,204 | |||||||||||||||||||
Less: Current portion | 426,356 | 427,678 | - | - | 428,390 | 435,838 | |||||||||||||||||||
Long-term debt excluding current portion | $ | 959,895 | 1,088,128 | 1,394,387 | 1,567,818 | 959,895 | 1,051,366 | ||||||||||||||||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 30, 2014 | |||||||||||||||||
Fair Value of Financial Instruments (Thousands of Dollars) [Abstract] | ' | ||||||||||||||||
Fair Value Hierarchy | ' | ||||||||||||||||
At March 30, 2014, March 31, 2013 and December 29, 2013, the Company had the following assets and liabilities measured at fair value in its consolidated balance sheets: | |||||||||||||||||
Fair Value Measurements Using: | |||||||||||||||||
Fair | Quoted | Significant | Significant | ||||||||||||||
Value | Prices in | Other | Unobservable | ||||||||||||||
Active | Observable | Inputs | |||||||||||||||
Markets | Inputs | (Level 3) | |||||||||||||||
for | (Level 2) | ||||||||||||||||
Identical | |||||||||||||||||
Assets | |||||||||||||||||
(Level 1) | |||||||||||||||||
30-Mar-14 | |||||||||||||||||
Assets: | |||||||||||||||||
Available-for-sale securities | $ | 40,984 | 3,783 | 31,538 | 5,663 | ||||||||||||
Derivatives | 1,311 | - | 1,311 | - | |||||||||||||
Total assets | $ | 42,295 | 3,783 | 32,849 | 5,663 | ||||||||||||
Liabilities: | |||||||||||||||||
Derivatives | $ | 33,053 | - | 33,053 | - | ||||||||||||
31-Mar-13 | |||||||||||||||||
Assets: | |||||||||||||||||
Available-for-sale securities | $ | 23,915 | 8 | 18,650 | 5,257 | ||||||||||||
Derivatives | 12,854 | - | 11,864 | 990 | |||||||||||||
Total assets | $ | 36,769 | 8 | 30,514 | 6,247 | ||||||||||||
Liabilities: | |||||||||||||||||
Derivatives | $ | 3,231 | - | 3,231 | - | ||||||||||||
29-Dec-13 | |||||||||||||||||
Assets: | |||||||||||||||||
Available-for-sale securities | $ | 28,048 | - | 22,564 | 5,484 | ||||||||||||
Derivatives | 4,627 | - | 4,627 | - | |||||||||||||
Total assets | $ | 32,675 | - | 27,191 | 5,484 | ||||||||||||
Liabilities: | |||||||||||||||||
Derivatives | $ | 12,330 | - | 12,330 | - | ||||||||||||
Reconciliation of Level 3 Fair Value | ' | ||||||||||||||||
The following is a reconciliation of the beginning and ending balances of the fair value measurements of the Company's financial instruments which use significant unobservable inputs (Level 3): | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Balance at beginning of year | $ | 5,484 | 7,618 | ||||||||||||||
Gain (loss) from change in fair value | 179 | (1,371 | ) | ||||||||||||||
Balance at end of first quarter | $ | 5,663 | 6,247 |
Pension_and_Postretirement_Ben1
Pension and Postretirement Benefits (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 30, 2014 | |||||||||||||||||
Pension and Postretirement Benefits (Thousands of Dollars) [Abstract] | ' | ||||||||||||||||
Components of net periodic cost | ' | ||||||||||||||||
(7) Pension and Postretirement Benefits | |||||||||||||||||
The components of the net periodic cost of the Company's defined benefit pension and other postretirement plans for the quarters ended March 30, 2014 and March 31, 2013 are as follows: | |||||||||||||||||
Quarter Ended | |||||||||||||||||
Pension | Postretirement | ||||||||||||||||
30-Mar-14 | 31-Mar-13 | 30-Mar-14 | 31-Mar-13 | ||||||||||||||
Service cost | $ | 971 | 1,502 | 137 | 188 | ||||||||||||
Interest cost | 5,058 | 4,795 | 332 | 345 | |||||||||||||
Expected return on assets | (5,560 | ) | (5,541 | ) | - | - | |||||||||||
Net amortization and deferrals | 1,252 | 2,392 | (113 | ) | (65 | ) | |||||||||||
Curtailment losses | - | 2,959 | - | - | |||||||||||||
Net periodic benefit cost | $ | 1,721 | 6,107 | 356 | 468 |
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 30, 2014 | |||||||||||||||||||||||||
Derivative Financial Instruments (Thousands of Dollars) [Abstract] | ' | ||||||||||||||||||||||||
Summary of Cash Flow Hedging Instruments | ' | ||||||||||||||||||||||||
At March 30, 2014, March 31, 2013 and December 29, 2013, the notional amounts and fair values of the Company's foreign currency forward contracts designated as cash flow hedging instruments were as follows: | |||||||||||||||||||||||||
30-Mar-14 | 31-Mar-13 | 29-Dec-13 | |||||||||||||||||||||||
Notional Amount | Fair | Notional | Fair | Notional | Fair | ||||||||||||||||||||
Hedged transaction | Value | Amount | Value | Amount | Value | ||||||||||||||||||||
Inventory purchases | $ | 609,689 | (6,966 | ) | 394,818 | 5,858 | 577,138 | (7,493 | ) | ||||||||||||||||
Intercompany royalty transactions | 2,812 | (2,403 | ) | 132,677 | 2,053 | 4,948 | (2,774 | ) | |||||||||||||||||
Sales | 161,760 | (1,155 | ) | 83,942 | 3,465 | 171,393 | (1,965 | ) | |||||||||||||||||
Other | 51,243 | (637 | ) | 23,746 | (22 | ) | 46,563 | 302 | |||||||||||||||||
Total | $ | 825,504 | (11,161 | ) | 635,183 | 11,354 | 800,042 | (11,930 | ) | ||||||||||||||||
Derivatives Fair Value by Balance Sheet Location | ' | ||||||||||||||||||||||||
The Company has a master agreement with each of its counterparties that allows for the netting of outstanding forward contracts. The fair values of the Company's foreign currency forward contracts designated as cash flow hedges are recorded in the consolidated balance sheets at March 30, 2014, March 31, 2013 and December 29, 2013 as follows: | |||||||||||||||||||||||||
30-Mar-14 | 31-Mar-13 | 29-Dec-13 | |||||||||||||||||||||||
Prepaid expenses and other current assets | |||||||||||||||||||||||||
Unrealized gains | $ | 999 | 10,324 | 1,088 | |||||||||||||||||||||
Unrealized losses | (647 | ) | (2,483 | ) | (702 | ) | |||||||||||||||||||
Net unrealized gain | $ | 352 | 7,841 | 386 | |||||||||||||||||||||
Other assets | |||||||||||||||||||||||||
Unrealized gains | $ | - | 4,023 | - | |||||||||||||||||||||
Accrued liabilities | |||||||||||||||||||||||||
Unrealized gains | $ | 4,597 | 1,095 | 3,425 | |||||||||||||||||||||
Unrealized losses | (13,946 | ) | (1,605 | ) | (13,671 | ) | |||||||||||||||||||
Net unrealized loss | $ | (9,349 | ) | (510 | ) | (10,246 | ) | ||||||||||||||||||
Other liabilities | |||||||||||||||||||||||||
Unrealized gains | $ | 256 | - | - | |||||||||||||||||||||
Unrealized losses | (2,420 | ) | - | (2,070 | ) | ||||||||||||||||||||
Net unrealized loss | $ | (2,164 | ) | - | (2,070 | ) | |||||||||||||||||||
Schedule of Derivative Instruments, Gain (Loss) in Statement of Operations | ' | ||||||||||||||||||||||||
Net gains (losses) on cash flow hedging activities have been reclassified from other comprehensive earnings (loss) to net earnings (loss) for the quarters ended March 30, 2014 and March 31, 2013 as follows: | |||||||||||||||||||||||||
Quarter Ended | |||||||||||||||||||||||||
30-Mar-14 | 31-Mar-13 | ||||||||||||||||||||||||
Statements of Operations Classification | |||||||||||||||||||||||||
Cost of sales | $ | (1,019 | ) | 341 | |||||||||||||||||||||
Royalties | (350 | ) | (141 | ) | |||||||||||||||||||||
Net revenues | (159 | ) | 475 | ||||||||||||||||||||||
Net realized (losses) gains | $ | (1,528 | ) | 675 | |||||||||||||||||||||
Fair values of undesignated derivative financial instruments | ' | ||||||||||||||||||||||||
At March 30, 2014, March 31, 2013 and December 29, 2013, the fair values of the Company's undesignated derivative financial instruments were recorded in the consolidated balance sheets as follows: | |||||||||||||||||||||||||
30-Mar-14 | 31-Mar-13 | 29-Dec-13 | |||||||||||||||||||||||
Prepaid expenses and other current assets | |||||||||||||||||||||||||
Unrealized gains | $ | 1,218 | - | - | |||||||||||||||||||||
Unrealized losses | (421 | ) | - | - | |||||||||||||||||||||
Net unrealized gain | 797 | - | - | ||||||||||||||||||||||
Other assets | |||||||||||||||||||||||||
Unrealized gains | 163 | - | 1,069 | ||||||||||||||||||||||
Unrealized losses | (1 | ) | - | - | |||||||||||||||||||||
Net unrealized gain | 162 | - | 1,069 | ||||||||||||||||||||||
Accrued liabilities | |||||||||||||||||||||||||
Unrealized gains | - | 140 | 478 | ||||||||||||||||||||||
Unrealized losses | - | (1,123 | ) | (492 | ) | ||||||||||||||||||||
Net unrealized loss | - | (983 | ) | (14 | ) | ||||||||||||||||||||
Other liabilities | |||||||||||||||||||||||||
Unrealized loss | - | (1,738 | ) | - | |||||||||||||||||||||
Total unrealized gain (loss), net | $ | 959 | (2,721 | ) | 1,055 |
Segment_Reporting_Tables
Segment Reporting (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 30, 2014 | |||||||||||||||||
Segment Reporting (Thousands of Dollars) [Abstract] | ' | ||||||||||||||||
Net revenues by segment | ' | ||||||||||||||||
Information by segment and a reconciliation to reported amounts for the quarters ended March 30, 2014 and March 31, 2013 are as follows: | |||||||||||||||||
30-Mar-14 | 31-Mar-13 | ||||||||||||||||
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 | - | |||||||||||||
Operating profit (loss) by segments | ' | ||||||||||||||||
Quarter Ended | |||||||||||||||||
Operating profit (loss) | 30-Mar-14 | 31-Mar-13 | |||||||||||||||
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 by segments | ' | ||||||||||||||||
Total assets | 30-Mar-14 | 31-Mar-13 | 29-Dec-13 | ||||||||||||||
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. | |||||||||||||||||
Schedule of net revenues by international region | ' | ||||||||||||||||
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 | |||||||||||||||||
30-Mar-14 | 31-Mar-13 | ||||||||||||||||
Europe | $ | 207,542 | 192,589 | ||||||||||||||
Latin America | 53,284 | 45,713 | |||||||||||||||
Asia Pacific | 44,649 | 51,511 | |||||||||||||||
Net revenues | $ | 305,475 | 289,813 | ||||||||||||||
Net revenues by product category | ' | ||||||||||||||||
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 | |||||||||||||||||
30-Mar-14 | 31-Mar-13 | ||||||||||||||||
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 |
Earnings_Loss_Per_Share_Detail
Earnings (Loss) Per Share (Details) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 |
Earnings (Loss) Per Share (Thousands of Dollars and Shares Except Per Share Data) [Abstract] | ' | ' |
Net earnings (loss) attributable to Hasbro, Inc. | $32,087 | ($6,671) |
Basic [Abstract] | ' | ' |
Adjusted net earnings (loss) (basic) (in dollars) | 32,087 | -6,671 |
Average shares outstanding (in shares) | 131,232 | 129,340 |
Equivalent shares (basic) (in shares) | 131,232 | 129,340 |
Net earnings (loss) attributable to Hasbro, Inc. per common share-basic (in dollars per share) | $0.24 | ($0.05) |
Diluted [Abstract] | ' | ' |
Adjusted net earnings (loss) (Diluted) (in dollars) | $32,087 | ($6,671) |
Average shares outstanding (in shares) | 131,232 | 129,340 |
Effect of dilutive securities: | ' | ' |
Options and other share-based awards (in shares) | 1,501 | 0 |
Equivalent shares (diluted) (in shares) | 132,733 | 129,340 |
Net earnings (loss) attributable to Hasbro, Inc. per common share-diluted (in dollars per share) | $0.24 | ($0.05) |
Options to acquire shares totaling excluded as antidilutive | 676 | 8,731 |
Shares that would have been included in the calculation of diluted shares had the Company not had a net loss during the period. | ' | 7,559 |
Shares that would have been included in the diluted earnings per share calculation had the Company not had a net loss during the period. | ' | 1,524 |
Equivalents shares had the Company not had a net loss during the period | ' | 130,864 |
Other_Comprehensive_Earnings_L2
Other Comprehensive Earnings (Loss) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 |
Other Comprehensive Earnings (Loss) [Abstract] | ' | ' |
Tax benefit (expense) on cash flow hedging activities | $9,474 | ($1,712) |
Tax expense on unrealized holding gains | -1,272 | 0 |
Reclassification Adjustment from AOCE, Tax (benefit) expense on cash flow hedging activities | -223 | 133 |
Reclassification Adjustment from AOCE, Tax (benefit) expense on unrecognized pension and postretirement amounts | -303 | -712 |
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent, Total | 7,676 | -2,291 |
Cash Flow Hedge Loss to be Reclassified within Twelve Months | -6,441 | ' |
Accumulated Other Comprehensive Earnings (Loss) [Line Items] | ' | ' |
Total accumulated other comprehensive earnings (loss), Beginning of Year | -34,135 | -72,307 |
Other Comprehensive Earnings (Loss), Net of Tax, Total | -14,430 | 4,141 |
Total accumulated other comprehensive earnings (loss), End of Period | -48,565 | -68,166 |
Pension and Postretirement Amounts [Member] | ' | ' |
Accumulated Other Comprehensive Earnings (Loss) [Line Items] | ' | ' |
Total accumulated other comprehensive earnings (loss), Beginning of Year | -64,841 | -120,422 |
Other Comprehensive Earnings (Loss), Net of Tax, Total | 534 | 1,255 |
Total accumulated other comprehensive earnings (loss), End of Period | -64,307 | -119,167 |
Gains (Losses) On Derivative Instruments [Member] | ' | ' |
Accumulated Other Comprehensive Earnings (Loss) [Line Items] | ' | ' |
Total accumulated other comprehensive earnings (loss), Beginning of Year | -7,313 | -1,008 |
Other Comprehensive Earnings (Loss), Net of Tax, Total | -14,913 | 10,234 |
Total accumulated other comprehensive earnings (loss), End of Period | -22,226 | 9,226 |
Unrealized Holding Gains on Available-for-Sale Securities [Member] | ' | ' |
Accumulated Other Comprehensive Earnings (Loss) [Line Items] | ' | ' |
Total accumulated other comprehensive earnings (loss), Beginning of Year | 0 | 0 |
Other Comprehensive Earnings (Loss), Net of Tax, Total | 2,243 | 0 |
Total accumulated other comprehensive earnings (loss), End of Period | 2,243 | 0 |
Foreign Currency Translation Adjustments [Member] | ' | ' |
Accumulated Other Comprehensive Earnings (Loss) [Line Items] | ' | ' |
Total accumulated other comprehensive earnings (loss), Beginning of Year | 38,019 | 49,123 |
Other Comprehensive Earnings (Loss), Net of Tax, Total | -2,294 | -7,348 |
Total accumulated other comprehensive earnings (loss), End of Period | $35,725 | $41,775 |
Financial_Instruments_Details
Financial Instruments (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 | Dec. 29, 2013 |
Debt Instrument [Line Items] | ' | ' | ' |
Carrying Cost | $1,386,251 | $1,394,387 | $1,388,285 |
Carrying Cost, Current | 426,356 | 0 | 428,390 |
Carrying Cost, Non-Current | 959,895 | 1,394,387 | 959,895 |
Fair Value | 1,515,806 | 1,567,818 | 1,487,204 |
Fair Value, Current | 427,678 | 0 | 435,838 |
Fair Value, Non-Current | 1,088,128 | 1,567,818 | 1,051,366 |
Principal Amount | 1,384,895 | 1,384,895 | 1,384,895 |
Notes 6.125% Due 2014 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Carrying Cost | 426,356 | 434,492 | 428,390 |
Fair Value | 427,678 | 449,395 | 435,838 |
Principal Amount | 425,000 | 425,000 | 425,000 |
Maturity Date | '2014 | '2014 | '2014 |
Interest Rate | 6.13% | 6.13% | 6.13% |
Adjustments included in carrying costs related to interest rate swaps | 1,356 | 9,492 | 3,390 |
Notes 6.30% Due 2017 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Carrying Cost | 350,000 | 350,000 | 350,000 |
Fair Value | 399,785 | 407,085 | 400,050 |
Principal Amount | 350,000 | 350,000 | 350,000 |
Maturity Date | '2017 | '2017 | '2017 |
Interest Rate | 6.30% | 6.30% | 6.30% |
Debentures 6.60% Due 2028 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Carrying Cost | 109,895 | 109,895 | 109,895 |
Fair Value | 120,643 | 126,588 | 118,566 |
Principal Amount | 109,895 | 109,895 | 109,895 |
Maturity Date | '2028 | '2028 | '2028 |
Interest Rate | 6.60% | 6.60% | 6.60% |
Notes 6.35% Due 2040 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Carrying Cost | 500,000 | 500,000 | 500,000 |
Fair Value | 567,700 | 584,750 | 532,750 |
Principal Amount | $500,000 | $500,000 | $500,000 |
Maturity Date | '2040 | '2040 | '2040 |
Interest Rate | 6.35% | 6.35% | 6.35% |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 30, 2014 |
Income Tax Examination [Line Items] | ' |
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority | ($13,480) |
Internal Revenue Service (IRS) [Member] | ' |
Income Tax Examination [Line Items] | ' |
Income Tax Examination, Increase (Decrease) in Liability from Prior Year | -12,159 |
Internal Revenue Service (IRS) [Member] | Deferred Tax Assets [Member] | ' |
Income Tax Examination [Line Items] | ' |
Income Tax Examination, Increase (Decrease) in Liability from Prior Year | -324 |
Mexican Tax Authorities [Member] | ' |
Income Tax Examination [Line Items] | ' |
Tax years under examination | '2000 to 2007 |
Tax assessments relating to Mexican tax examinations for the years 2000 to 2007 | 252,140 |
Bonds provided to the Mexican government related to the 2000 to 2004 assessments | $190,660 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments (Details) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 | Dec. 29, 2013 |
Fair Value of Financial Instruments (Thousands of Dollars) [Abstract] | ' | ' | ' |
Fair Value of Available for Sale Investments, Fair Value Option | $37,201 | $23,907 | $28,048 |
Net Gain (Loss) on Available-for-Sale Investments, Fair Value Option | 1,177 | 280 | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Available-for-sale securities, assets | 40,984 | 23,915 | 28,048 |
Derivatives, assets | 1,311 | 12,854 | 4,627 |
Total assets, fair value hierarchy | 42,295 | 36,769 | 32,675 |
Derivatives, liabilities | 33,053 | 3,231 | 12,330 |
Reconciliation of fair value for Level 3 financial instruments | ' | ' | ' |
Balance at beginning of year | 5,484 | 7,618 | ' |
Gain (loss) from change in fair value | 179 | -1,371 | ' |
Balance at end of first quarter | 5,663 | 6,247 | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Available-for-sale securities, assets | 3,783 | 8 | 0 |
Derivatives, assets | 0 | 0 | 0 |
Total assets, fair value hierarchy | 3,783 | 8 | 0 |
Derivatives, liabilities | 0 | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Available-for-sale securities, assets | 31,538 | 18,650 | 22,564 |
Derivatives, assets | 1,311 | 11,864 | 4,627 |
Total assets, fair value hierarchy | 32,849 | 30,514 | 27,191 |
Derivatives, liabilities | 33,053 | 3,231 | 12,330 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Available-for-sale securities, assets | 5,663 | 5,257 | 5,484 |
Derivatives, assets | 0 | 990 | 0 |
Total assets, fair value hierarchy | 5,663 | 6,247 | 5,484 |
Derivatives, liabilities | $0 | $0 | $0 |
Pension_and_Postretirement_Ben2
Pension and Postretirement Benefits (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 |
Pension [Member] | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' |
Service cost | $971 | $1,502 |
Interest cost | 5,058 | 4,795 |
Expected return on assets | -5,560 | -5,541 |
Net amortization and deferrals | 1,252 | 2,392 |
Curtailment losses | 0 | 2,959 |
Net periodic benefit cost | 1,721 | 6,107 |
Contributions to defined benefit pension plans | 1,100 | ' |
Expected contributions during the remainder of fiscal year | 5,300 | ' |
Postretirement [Member] | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' |
Service cost | 137 | 188 |
Interest cost | 332 | 345 |
Expected return on assets | 0 | 0 |
Net amortization and deferrals | -113 | -65 |
Curtailment losses | 0 | 0 |
Net periodic benefit cost | $356 | $468 |
Derivative_Financial_Instrumen2
Derivative Financial Instruments (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 | Dec. 29, 2013 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Notional amount of hedged item | $825,504 | $635,183 | $800,042 |
Fair value of hedged item | -11,161 | 11,354 | -11,930 |
Inventory Purchases [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Hedge description of hedged item | 'Inventory purchases | 'Inventory purchases | 'Inventory purchases |
Underlying risk | 'foreign currency | 'foreign currency | 'foreign currency |
Notional amount of hedged item | 609,689 | 394,818 | 577,138 |
Fair value of hedged item | -6,966 | 5,858 | -7,493 |
Intercompany Royalty Transactions [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Hedge description of hedged item | 'Intercompany royalty transaction | 'Intercompany royalty transaction | 'Intercompany royalty transaction |
Underlying risk | 'foreign currency | 'foreign currency | 'foreign currency |
Notional amount of hedged item | 2,812 | 132,677 | 4,948 |
Fair value of hedged item | -2,403 | 2,053 | -2,774 |
Sales [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Hedge description of hedged item | 'Sales | 'Sales | 'Sales |
Underlying risk | 'foreign currency | 'foreign currency | 'foreign currency |
Notional amount of hedged item | 161,760 | 83,942 | 171,393 |
Fair value of hedged item | -1,155 | 3,465 | -1,965 |
Other [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Hedge description of hedged item | 'Other | 'Other | 'Other |
Underlying risk | 'foreign currency | 'foreign currency | 'foreign currency |
Notional amount of hedged item | 51,243 | 23,746 | 46,563 |
Fair value of hedged item | -637 | -22 | 302 |
Intercompany Loans [Member] | Fair Value Hedging [Member] | Not Designated as Hedging Instrument [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Hedge description of hedged item | 'intercompany loans | 'intercompany loans | 'intercompany loans |
Underlying risk | 'foreign currency | 'foreign currency | 'foreign currency |
Notional amount of hedged item | 158,827 | 109,433 | 294,888 |
Fair value of hedged item | 959 | -2,721 | 1,055 |
Expected Issuance of Long-Term Debt [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Hedge description of hedged item | 'Expected Issuance of Long-Term Debt | ' | 'Expected Issuance of Long-Term Debt |
Underlying risk | 'U.S. Treasury Interest Rates | ' | 'U.S. Treasury Interest Rates |
Notional amount of hedged item | 500,000 | ' | 300,000 |
Fair value of hedged item | ($21,540) | ' | $3,172 |
Derivative_Financial_Instrumen3
Derivative Financial Instruments, Fair Values Derivatives, Balance Sheet Location, by Derivative Contract Type (Details) (USD $) | Mar. 30, 2014 | Dec. 29, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | |||
Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Prepaid expenses and other current assets [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Unrealized gains | ' | $3,172 | ' |
Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Accrued liabilities [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Unrealized losses | 21,540 | ' | ' |
Foreign Exchange Forward [Member] | Designated as Hedging Instrument [Member] | Prepaid expenses and other current assets [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Unrealized gains | 999 | 1,088 | 10,324 |
Unrealized losses | -647 | -702 | -2,483 |
Net unrealized gain (loss) | 352 | 386 | 7,841 |
Foreign Exchange Forward [Member] | Designated as Hedging Instrument [Member] | Other Assets [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Net unrealized gain (loss) | 0 | 0 | 4,023 |
Foreign Exchange Forward [Member] | Designated as Hedging Instrument [Member] | Accrued liabilities [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Unrealized gains | 4,597 | 3,425 | 1,095 |
Unrealized losses | -13,946 | -13,671 | -1,605 |
Net unrealized gain (loss) | -9,349 | -10,246 | -510 |
Foreign Exchange Forward [Member] | Designated as Hedging Instrument [Member] | Other liabilities [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Unrealized gains | 256 | 0 | 0 |
Unrealized losses | -2,420 | -2,070 | 0 |
Net unrealized gain (loss) | -2,164 | -2,070 | 0 |
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | Prepaid expenses and other current assets [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Unrealized gains | 1,218 | 0 | 0 |
Unrealized losses | -421 | 0 | 0 |
Net unrealized gain (loss) | 797 | 0 | 0 |
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | Other Assets [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Unrealized gains | 163 | 1,069 | 0 |
Unrealized losses | -1 | 0 | 0 |
Net unrealized gain (loss) | 162 | 1,069 | 0 |
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | Accrued liabilities [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Unrealized gains | 0 | 478 | 140 |
Unrealized losses | 0 | -492 | -1,123 |
Net unrealized gain (loss) | 0 | -14 | -983 |
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | Other liabilities [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Net unrealized gain (loss) | $0 | $0 | ($1,738) |
Derivative_Financial_Instrumen4
Derivative Financial Instruments, Gain (Loss) by Hedging Relationship, by Income Statement Location (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Effective portion, amount of gains (losses) reclassified from other comprehensive earnings into earnings | ($1,528) | $675 |
Ineffective portion, amount of gains (losses) reclassified from other comprehensive earnings into earnings | 65 | -1 |
Cash Flow Hedging [Member] | Cost of Sales [Member] | Designated as Hedging Instrument [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Effective portion, amount of gains (losses) reclassified from other comprehensive earnings into earnings | -1,019 | 341 |
Cash Flow Hedging [Member] | Royalty Expense[Member] | Designated as Hedging Instrument [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Effective portion, amount of gains (losses) reclassified from other comprehensive earnings into earnings | -350 | -141 |
Cash Flow Hedging [Member] | Sales [Member] | Designated as Hedging Instrument [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Effective portion, amount of gains (losses) reclassified from other comprehensive earnings into earnings | -159 | 475 |
Fair Value Hedging [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | ($4,117) | ($3,107) |
Acquisitions_Details
Acquisitions (Details) (USD $) | 0 Months Ended | 3 Months Ended | ||
In Thousands, unless otherwise specified | Jul. 08, 2013 | Mar. 30, 2014 | Mar. 31, 2013 | Dec. 29, 2013 |
Acquisitions [Abstract] | ' | ' | ' | ' |
Date of Acquisition | 8-Jul-13 | ' | ' | ' |
Business Acquisition, Name of Acquired Entity | 'Backflip Studios, LLC | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Parent | 70.00% | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 30.00% | ' | ' | ' |
Preliminary Valuation | $160,000 | ' | ' | ' |
Payments to Acquire Businesses, Gross | 112,000 | ' | ' | ' |
Intangible Assets, Valuation | 35,000 | ' | ' | ' |
Goodwill, Valuation | 119,000 | ' | ' | ' |
Net Loss Attributable to Noncontrolling Interests | ' | -573 | 0 | ' |
Net tangible assets acquired | 6,000 | ' | ' | ' |
Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value | $48,000 | $44,180 | ' | $45,445 |
Equity_Method_Investment_Detai
Equity Method Investment (Details) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 | Dec. 29, 2013 |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Acquired interest in joint venture, Hub Television Networks, LLC. (in hundredths) | 50.00% | ' | ' |
Earnings (loss) of joint venture | $1,336 | ($1,064) | ' |
Investment in joint venture | $323,212 | $329,683 | $321,876 |
Segment_Reporting_Net_revenues
Segment Reporting, Net revenues by segment (Details) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 | ||
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ||
Net revenues, external | $679,453 | $663,694 | ||
Net revenues, affiliates | 0 | 0 | ||
Operating Profit (Loss) | 43,448 | 10,627 | ||
U.S. and Canada [Member] | ' | ' | ||
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ||
Net revenues, external | 337,699 | 342,059 | ||
Net revenues, affiliates | 1,210 | 1,029 | ||
Operating Profit (Loss) | 35,763 | 37,743 | ||
International [Member] | ' | ' | ||
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ||
Net revenues, external | 305,475 | 289,813 | ||
Net revenues, affiliates | 71 | 199 | ||
Operating Profit (Loss) | 2,414 | -4,505 | ||
Entertainment and Licensing [Member] | ' | ' | ||
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ||
Net revenues, external | 34,874 | 30,774 | ||
Net revenues, affiliates | 3,242 | 2,221 | ||
Operating Profit (Loss) | 5,982 | 5,285 | ||
Global Operations [Member] | ' | ' | ||
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ||
Net revenues, external | 1,405 | [1] | 1,048 | [1] |
Net revenues, affiliates | 251,540 | [1] | 214,286 | [1] |
Operating Profit (Loss) | -1,744 | [1] | -9,583 | [1] |
Corporate and Eliminations [Member] | ' | ' | ||
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ||
Net revenues, external | 0 | 0 | ||
Net revenues, affiliates | -256,063 | -217,735 | ||
Operating Profit (Loss) | $1,033 | [2] | ($18,313) | [2] |
[1] | The Global Operations segment derives substantially all of its revenues, and thus its operating results, from intersegment activities. | |||
[2] | 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. |
Segment_Reporting_Operating_pr
Segment Reporting, Operating profit (loss) by segments (Details) (USD $) | Mar. 30, 2014 | Dec. 29, 2013 | Mar. 31, 2013 | |||
In Thousands, unless otherwise specified | ||||||
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' | ' | |||
Total assets | $4,029,437 | $4,402,267 | $4,060,645 | |||
U.S. and Canada [Member] | ' | ' | ' | |||
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' | ' | |||
Total assets | 3,080,602 | 3,066,301 | 6,076,021 | |||
International [Member] | ' | ' | ' | |||
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' | ' | |||
Total assets | 1,900,304 | 2,233,115 | 1,874,583 | |||
Entertainment and Licensing [Member] | ' | ' | ' | |||
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' | ' | |||
Total assets | 705,895 | 691,795 | 1,185,905 | |||
Global Operations [Member] | ' | ' | ' | |||
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' | ' | |||
Total assets | 2,185,436 | 2,172,816 | 2,527,454 | |||
Corporate and Eliminations [Member] | ' | ' | ' | |||
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' | ' | |||
Total assets | ($3,842,800) | [1] | ($3,761,760) | [1] | ($7,603,318) | [1] |
[1] | 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. |
Segment_Reporting_Internationa
Segment Reporting, International Segment Net Revenues (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Net revenues by geographical location | $305,475 | $289,813 |
Europe [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Net revenues by geographical location | 207,542 | 192,589 |
Asia Pacific [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Net revenues by geographical location | 44,649 | 51,511 |
Latin America [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Net revenues by geographical location | $53,284 | $45,713 |
Segment_Reporting_Revenue_by_P
Segment Reporting, Revenue by Products (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 30, 2014 | Mar. 31, 2013 |
Revenue from External Customer [Line Items] | ' | ' |
Net revenue | $679,453 | $663,694 |
Boys [Member] | ' | ' |
Revenue from External Customer [Line Items] | ' | ' |
Net revenue | 247,775 | 242,796 |
Games [Member] | ' | ' |
Revenue from External Customer [Line Items] | ' | ' |
Net revenue | 220,526 | 230,915 |
Girls [Member] | ' | ' |
Revenue from External Customer [Line Items] | ' | ' |
Net revenue | 138,700 | 114,774 |
Preschool [Member] | ' | ' |
Revenue from External Customer [Line Items] | ' | ' |
Net revenue | $72,452 | $75,209 |