Hasbro (HAS) 10-Q 5 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 27, 2016	Apr. 18, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	HASBRO INC
Entity Central Index Key	46,080
Current Fiscal Year End Date	--12-25
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		124,702,080
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 27, 2016
Trading Symbol	HAS

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 27, 2016	Dec. 27, 2015	Mar. 29, 2015
Current assets
Cash and cash equivalents	$ 1,095,880	$ 976,750	$ 1,081,397
Accounts receivable, less allowance for doubtful accounts of $31,100, $14,900 and $16,400	670,663	1,217,850	563,301
Inventories	461,734	384,492	340,654
Prepaid expenses and other current assets	295,806	286,506	346,726
Total current assets	2,524,083	2,865,598	2,332,078
Property, plant and equipment, less accumulated depreciation of $365,600, $363,600 and $510,700	241,253	237,527	243,589
Other assets
Goodwill	592,793	592,695	592,724
Other intangibles, net, accumulated amortization of $850,000, $841,300, and $810,500	272,116	280,807	311,576
Other	734,450	744,090	767,149
Total other assets	1,599,359	1,617,592	1,671,449
Total assets	4,364,695	4,720,717	4,247,116
Current liabilities
Short-term borrowings	89,000	164,563	231,914
Accounts payable	176,665	241,210	142,946
Accrued liabilities	502,708	658,874	442,209
Total current liabilities	768,373	1,064,647	817,069
Long-term debt	1,547,434	1,547,115	1,546,169
Other liabilities	402,346	404,883	396,137
Total liabilities	2,718,153	3,016,645	2,759,375
Redeemable noncontrolling interests	39,152	40,170	42,234
Shareholders' equity
Preference stock of $2.50 par value. Authorized 5,000,000 shares; none issued	0	0	0
Common stock of $.50 par value. Authorized 600,000,000 shares; issued 209,694,630 at March 27, 2016, December 27, 2015 and March 29, 2015	104,847	104,847	104,847
Additional paid-in capital	906,211	893,630	825,489
Retained earnings	3,837,372	3,852,321	3,599,571
Accumulated other comprehensive loss	(164,353)	(146,001)	(86,996)
Treasury stock, at cost; 84,829,514 shares at March 27, 2016; 84,899,200 shares at December 27, 2015; and 85,120,544 shares at March 29, 2015	(3,076,687)	(3,040,895)	(2,997,404)
Total shareholders' equity	1,607,390	1,663,902	1,445,507
Total liabilities, redeemable noncontrolling interests and shareholders' equity	$ 4,364,695	$ 4,720,717	$ 4,247,116

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) Parenthetical - USD ($) $ in Thousands	Mar. 27, 2016	Dec. 27, 2015	Mar. 29, 2015
Current assets
Accounts receivable, allowance for doubtful accounts	$ 31,100	$ 14,900	$ 16,400
Property, plant and equipment, accumulated depreciation	365,600	363,600	510,700
Other assets
Other intangibles, accumulated amortization	$ 850,000	$ 841,300	$ 810,500
Shareholders' equity
Preference stock, par value (in dollars per share)	$ 2.5	$ 2.5	$ 2.5
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)	$ 0.5	$ 0.5	$ 0.5
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)	84,829,514	84,899,200	85,120,544

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Consolidated Statements of Operations (Unaudited) [Abstract]
Net revenues	$ 831,180	$ 713,500
Costs and expenses
Cost of sales	290,240	247,735
Royalties	69,969	59,089
Product development	57,164	51,897
Advertising	79,859	67,742
Amortization of intangibles	8,691	12,951
Program production cost amortization	6,186	11,096
Selling, distribution and administration	233,155	208,785
Total costs and expenses	745,264	659,295
Operating Profit	85,916	54,205
Non-operating (income) expense
Interest Expense	24,044	24,585
Interest income	(2,213)	(930)
Other (income) expense, net	4,872	(3,765)
Total non-operating expense, net	26,703	19,890
Earnings before income taxes	59,213	34,315
Income tax expense	12,242	8,494
Net earnings	46,971	25,821
Net loss attributable to noncontrolling interests	(1,780)	(846)
Net Earnings Attributable to Hasbro, Inc.	$ 48,751	$ 26,667
Net earnings attributable to Hasbro, Inc. per common share:
Basic (in dollars per share)	$ 0.39	$ 0.21
Diluted (in dollars per share)	0.38	0.21
Cash dividends declared per common share (in dollars per share)	$ 0.51	$ 0.46

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Earnings - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Consolidated Statements of Comprehensive Earnings [Abstract]
Net earnings	$ 46,971	$ 25,821
Other comprehensive earnings (loss):
Foreign currency translation adjustments	12,140	(47,311)
Net gains on cash flow hedging activities, net of tax	(15,786)	62,300
Unrealized holding (losses) gains on available-for-sale securities, net of tax	1,680	226
Reclassifications to earnings, net of tax:
Net (gains) losses on cash flow hedging activities	(17,561)	(7,961)
Amortization of unrecognized pension and postretirement amounts	1,175	1,204
Total other comprehensive earnings (loss), net of tax	(18,352)	8,458
Comprehensive earnings	28,619	34,279
Comprehensive loss attributable to noncontrolling interests	(1,780)	(846)
Comprehensive earnings attributable to Hasbro, Inc.	$ 30,399	$ 35,125

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Cash flows from operating activities
Net earnings	$ 46,971	$ 25,821
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation of plant and equipment	25,126	21,404
Amortization of intangibles	8,691	12,951
Program production cost amortization	6,186	11,096
Deferred income taxes	9,466	(3,406)
Stock-based compensation	11,973	9,624
Change in operating assets and liabilities:
Decrease (Increase) in accounts receivable	547,154	478,330
Decrease (Increase) in inventories	(73,238)	(20,309)
Decrease (Increase) in prepaid expenses and other current assets	(32,032)	(6,319)
Program Production Costs	(11,619)	(9,252)
Increase (Decrease) in accounts payable and accrued liabilities	(238,127)	(206,030)
Other	(6,928)	1,371
Net cash provided by operating activities	293,623	315,281
Cash flows from investing activities
Additions to property, plant and equipment	(31,218)	(31,151)
Other	3,626	(1,960)
Net cash utilized by investing activities	(27,592)	(33,111)
Cash flows from financing activities
Net (repayments of) proceeds from other short-term borrowings	(75,526)	(20,325)
Purchases of common stock	(33,710)	(26,507)
Stock option transactions	8,153	14,023
Excess tax benefits from stock-based compensation	6,056	3,440
Dividends paid	(57,406)	(53,470)
Other financing activities	762	350
Net cash utilized by financing activities	(151,671)	(82,489)
Effect of exchange rate changes on cash	4,770	(11,451)
Increase (Decrease) in cash and cash equivalents	119,130	188,230
Cash and cash equivalents at beginning of year	976,750	893,167
Cash and cash equivalents at end of period	1,095,880	1,081,397
Cash paid during the period for:
Interest	31,066	30,940
Income taxes	$ 34,332	$ 28,292

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 27, 2016
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 27, 2016 and March 29, 2015 , and th e 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 m anagement 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 27, 2016 and March 29, 2015 are each 13-week periods. The results of operations for the quarter are not necessarily indicative of results to be expected for the full year, nor were those of the comparable 2015 period representative of those actually experienced for the full year 2015 . 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 27, 2015 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 27, 2015 .

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 27, 2016
Earnings Per Share (Thousands of Dollars and Shares Except Per Share Data) [Abstract]
Earnings Per Share	(2 ) Earnings Per Share Net earnings per share data for the quarter s ended March 27, 2016 and March 29, 2015 were computed as follows: 2016 2015 Quarter Basic Diluted Basic Diluted Net earnings attributable to Hasbro, Inc. $ 48,751 48,751 26,667 26,667 Average shares outstanding 125,266 125,266 124,853 124,853 Effect of dilutive securities: Options and other share-based awards - 1,682 - 1,489 Equivalent Shares 125,266 126,948 124,853 126,342 Net earnings attributable to Hasbro, Inc. per common share $ 0.39 0.38 0.21 0.21 For the quarter s ended March 27, 2016 and March 29, 2015 , options and restricted stock units totaling 492 and 782 , respectively, were excluded from the calculation of diluted earnings per share because to include the m would hav e been antidilutive .

Other Comprehensive Earnings (L

Other Comprehensive Earnings (Loss)	3 Months Ended
	Mar. 27, 2016
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. The following table presents the related tax effects on changes in other comprehensive earn ings (loss) for the quarters ended March 27, 2016 and March 29, 2015 . Quarter Ended March 27, March 29, 2016 2015 Other comprehensive earnings (loss), tax effect: Tax benefit (expense) on cash flow hedging activities $ 3,256 (4,815) Tax expense on unrealized holding gains (953) (128) Reclassifications to earnings, tax effect: Tax expense (benefit) on cash flow hedging activities 1,749 342 Tax benefit on unrecognized pension and postretirement amounts reclassified to the consolidated statements of operations (667) (684) Total tax effect on other comprehensive earnings (loss) $ 3,385 (5,285) Changes in the components of accumulated other comprehensive loss for the three months ended March 27, 2016 and March 29, 2015 are as follows: Unrealized Holding Total Gains Gains on Foreign Accumulated Pension and (Losses) on Available- Currency Other Postretirement Derivative for-Sale Translation Comprehensive Amounts Instruments Securities Adjustments Earnings (Loss) 2016 Balance at December 27, 2015 $ (102,931) 79,317 1,258 (123,645) (146,001) Current period other comprehensive earnings (loss) 1,175 (33,347) 1,680 12,140 (18,352) Balance at March 27, 2016 $ (101,756) 45,970 2,938 (111,505) (164,353) 2015 Balance at December 27, 2014 $ (113,092) 43,689 1,900 (27,951) (95,454) Current period other comprehensive earnings (loss) 1,204 54,339 226 (47,311) 8,458 Balance at March 29, 2015 $ (111,888) 98,028 2,126 (75,262) (86,996) At March 27, 2016 , the Company had remaining net deferred gains on foreign currency forward c ontracts, net of tax, of $65,046 in accumulated other comprehensive loss ("AOCE"). These instruments hedge payments related to inventory purchased in the first quarter of 2016 or forecasted to be purchased during the remainder of 2016 and, to a lesser extent, 2017 through 2020, intercompany expenses expected to be paid or received during 2016 and 2017 , cash receipts for sales made at the end o f the first quarter of 2016 or forecasted to be made in the remainder of 2016 and, to a lesser extent, 2017 through 2018 . These amounts will be reclassified into the consolidated statements of operations upon the sale of the related inventor y or recognition of the related sales or expenses. In addition to foreign currency forward contracts, the Company entered into hedging contracts on future interest payments related to the long-term notes due 2021 and 2044. At the date of debt issuance, these contracts were terminated and the fair value on the date of settlement was deferred in AOCE and is being amortized to interest expense over the life of the related notes using the effective interest rate method. At March 27, 2016 , deferred losses, net o f tax of $19,076 related to these instruments remained in AOCE. For the quarter s ended March 27, 2016 and March 29, 2015 , losses of $450 were reclassified from AOCE to net earnings. Of the amount included in AOCE at March 27, 2016 , the Company expects approxima tely $44,500 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.

Financial Instruments

Financial Instruments	3 Months Ended
	Mar. 27, 2016
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 27, 2016 , March 29, 2015 and December 27, 2015 , the carrying cost of these instruments approximated their fair value. The Company's financial instruments at March 27, 2016 , March 29, 2015 and December 27, 2015 also include certain assets and liabilities mea sured at fair value (see Notes 6 an d 8 ) as well as long-term borrowings. The carrying costs which are equal to the outstanding principal amounts, and fair values of the Company's long-term borrowings as of March 27, 2016 , March 29, 2015 and December 27, 2015 are as follows: March 27, 2016 March 29, 2015 December 27, 2015 Carrying Fair Carrying Fair Carrying Fair Cost Value Cost Value Cost Value 6.35% Notes Due 2040 $ 500,000 560,900 500,000 597,900 500,000 556,300 6.30% Notes Due 2017 350,000 370,965 350,000 389,305 350,000 374,045 5.10% Notes Due 2044 300,000 287,610 300,000 316,260 300,000 286,710 3.15% Notes Due 2021 300,000 302,880 300,000 308,970 300,000 300,060 6.60% Debentures Due 2028 109,895 122,456 109,895 131,039 109,895 121,269 Total long-term debt $ 1,559,895 1,644,811 1,559,895 1,743,474 1,559,895 1,638,384 Less: Deferred debt expenses 12,461 - 13,726 - 12,780 - Long-term debt 1,547,434 1,644,811 1,546,169 1,743,474 1,547,115 1,638,384 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. In April 2015, the FASB issued ASU No. 2015-03, Interest – Imputation of Interest (ASC 835-30), which simplifies the presentation of debt issuance costs. ASU 2015-03 requires debt issuance costs related to long-term debt to be presented in the balance sheet as a reduction to the carrying amount of the related debt liability, consistent with the presentation of discounts. The Company adopted ASU 2015-03 at December 27, 2015 and deferred debt costs are presented as a reduction of long-term debt. Debt issuance costs of $ 13,726 have been reclassified from other assets in the consolidated balance sheet for March 29, 2015 to reflect thi s change in accounting principle .

Income Taxes

Income Taxes	3 Months Ended
	Mar. 27, 2016
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 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 t ax examinations by tax authorities in its major jurisdictions for years before 2009. The Company is currently under income tax examination in several U.S., state and local and non-U.S. jurisdictions. In November 2015, the FASB issued ASU 2015-17, Income T axes , which simplifies the presentation of deferred income taxes by removing the requirement to bifurcate deferred income tax assets and liabilities between current and non-current. The Company adopted ASU 2015-17 as of December 27, 2015 and deferred incom e tax assets and liabilities are presented as non-current in the consolidated balance sheets. This adoption was applied retrospectively and $73,230 has been reclassified from prepaid expenses and other current assets to other assets and $3,658 has been rec lassified from accrued liabilities to other liabilities in the consolidated balance sheet as of March 29, 2015.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 27, 2016
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 o bservable 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 f or similar assets and liabilities. The Company has elected the fair value option for certain available-for-sale investments. At March 27, 2016 , March 29, 2015 and December 27, 2015 , t hese investments totaled $22,665, $23,141 and $22,539 , 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 $83 and $17 on these investments in other (income) expense, net for the quarter s ended March 27, 2016 and March 29, 2015 , respectively, related to the change in fair value of such instruments. At March 27, 2016 , March 29, 2015 and December 27, 2015 , the Company had the following assets and liabilities measured at fair value (excluding assets for which the fair value is measured using net assets value per share) in its consolidated balance sheets: Fair Value Measurements Using: Quoted Prices in Active Markets Significant for Other Significant Identical Observable Unobservable Fair Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) March 27, 2016 Assets: Available-for-sale securities $ 6,109 6,109 - - Derivatives 69,720 - 69,720 - Total assets $ 75,829 6,109 69,720 - Liabilities: Derivatives $ 3,932 - 3,932 - Option agreement 27,920 - - 27,920 Total liabilities $ 31,852 - 3,932 27,920 March 29, 2015 Assets: Available-for-sale securities $ 4,836 4,836 - - Derivatives 130,550 - 130,550 - Total assets $ 135,386 4,836 130,550 - Liabilities: Derivatives $ 3,513 - 3,513 - Option agreement 24,920 - - 24,920 Total liabilities $ 28,433 - 3,513 24,920 December 27, 2015 Assets: Available-for-sale securities $ 3,476 3,476 - - Derivatives 107,634 - 107,634 - Total assets $ 111,110 3,476 107,634 - Liabilities: Derivatives $ 1,240 - 1,240 - Option agreement 28,360 - - 28,360 Total Liabilities $ 29,600 - 1,240 28,360 Available-for-sale securities include equity securities of one company quoted on an active public market . The Company's derivatives consist primarily of foreign currency forward contracts. The Company used current forward rates of the respective foreign currencies to measure the fair value of these contracts. The option agreement included in other liabilities at March 27, 2016 , March 29, 2015 and December 27, 2015 , is valued using an option pricing model based on the fair value of the related investment. Inputs used in the option pricing model include the volatility and fair value of the underlying company which are considered unobservable inputs as they reflect 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. There were no changes in these valua tion techniques during the three -month period ended March 27, 2016 . 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): 2016 2015 Balance at beginning of year $ (28,360) (25,340) Gain from change in fair value 440 420 Balance at end of first quarter $ (27,920) (24,920) In addition to the above, the Company has three investments for which the fair value is measured using net asset value per share. At March 27, 2016, March 29, 2015 and December 27, 2015, these investments had fair values of $22,665, $23,141 and $22,539, respectively. Two of the investments have net asset values that are predominantly based on underlying investments which are traded on an active market and are redeemable within 45 days. The third investment invests in hedge funds which are generally redeem able on a quarterly basis with 30 – 90 days notice .

Pension and Postretirement Bene

Pension and Postretirement Benefits	3 Months Ended
	Mar. 27, 2016
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 th e quarters ended March 27, 2016 and March 29, 2015 are as follows: Quarter Ended Pension Postretirement March 27, March 29, March 27, March 29, 2016 2015 2016 2015 Service cost $ 998 1,011 132 150 Interest cost 4,606 4,605 294 285 Expected return on assets (5,507) (5,479) - - Net amortization and deferrals 2,132 2,201 - (114) Net periodic benefit cost $ 2,229 2,338 426 321 During the three months ended March 27, 2016 , the Company made cash contributions to its defined benefit pe nsion plans of approximately $37 0 in the aggregate. The Company expects to contribute approximately $3,130 during the remainder of fiscal 2016 .

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 27, 2016
Derivative Financial Instruments (Thousands of Dollars) [Abstract]
Derivative Financial Instruments	(10 ) 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 E uros. 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 Com pany. Hasbro does not enter into derivative financial instruments for speculative purposes. 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 2016 through 2020. At March 27, 2016 , March 29, 2015 and December 27, 2015 , the notional amounts and fair values of the Company's foreign currency forward contracts designated as cash flow hedging instruments were as follows: March 27, 2016 March 29, 2015 December 27, 2015 Notional Fair Notional Fair Notional Fair Hedged transaction Amount Value Amount Value Amount Value Inventory purchases $ 1,277,977 69,748 912,376 135,512 1,380,488 108,521 Sales 82,072 258 232,643 (6,769) 97,350 803 Royalties and Other 270,207 (4,077) 84,518 (2,766) 54,360 (1,886) Total $ 1,630,256 65,929 1,229,537 125,977 1,532,198 107,438 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 27, 2016 , March 29, 2015 and December 27, 2015 as follows: March 27, March 29, December 27, 2016 2015 2015 Prepaid expenses and other current assets Unrealized gains $ 53,774 74,219 78,910 Unrealized losses (6,890) (10,253) (5,932) Net unrealized gain $ 46,884 63,966 72,978 Other assets Unrealized gains $ 26,454 66,438 35,366 Unrealized losses (3,618) (914) (710) Net unrealized gains $ 22,836 65,524 34,656 Accrued liabilities Unrealized gains $ 1,900 3,149 - Unrealized losses (3,086) (6,662) - Net unrealized loss $ (1,186) (3,513) - Other liabilities Unrealized gains $ 1,349 - 241 Unrealized losses (3,954) - (437) Net unrealized loss $ (2,605) - (196) Net gains (losses) on cash flow hedging activities have been reclassified from other comprehensive earnings (loss) to net earnings for the quarter s ended March 27, 2016 and March 29, 2015 as follows: Quarter Ended March 27, March 29, 2016 2015 Statements of Operations Classification Cost of sales $ 15,698 10,063 Sales 98 (1,354) Royalties and Other 7 43 Net realized gains $ 15,803 8,752 In addition, gains of $3,957 were reclassified to earnings as a result of hedge inef fectiveness for the quarter ended March 27, 2016 . There were no reclassifications as a result of hedge ineffectiveness during the first quarter of 2015 . 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 fluctuations. Due to the nature of the derivative contracts involved, the Company does not use hedge accounting for these contracts. At March 27, 2016 , March 29, 2015 and December 27, 2015 the total notional amounts of the Company's undesignated deri vative instruments were $88,862, $119,395 and $341,389 , respectively. At March 27, 2016 , March 29, 2015 and December 27, 2015 , the fair values of the Company's undesignated derivative financial instruments were recorded in the consolidated balance sheets as follows: March 27, March 29, December 27, 2016 2015 2015 Prepaid expenses and other current assets Unrealized gains $ - 1,088 - Unrealized losses - (28) - Net unrealized gain - 1,060 - Accrued liabilities Unrealized gains 321 - 416 Unrealized losses (462) - (1,460) Net unrealized loss (141) - (1,044) Total unrealized gain (loss), net $ (141) 1,060 (1,044) The Comp any recorded net gains of $3,255 and $10,071 on these instruments to other (income) expense, net for the quarter s ended March 27, 2016 and March 29, 2015 , 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 f inancial instruments see Notes 4 and 6 .

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 27, 2016
Segment Reporting (Thousands of Dollars) [Abstract]
Segment Reporting	(9 ) 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 spanning toys, games, licensed products ranging from traditional to high-tech and digital, and film and television entertainment. 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 action figures, arts and crafts and creative play products, electronic toys and related electronic interactive products, fashion and other dolls, infant products, play sets, preschool toys, plush products, sports action blasters and accessories, vehicl es and toy-related specialty products, as well as trad itional board games, 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 and South American regions. The Company's Entertainment and Licensing segment includes the Company's consumer product licensing, digital gaming, movie and television entertainment operations. The Global Operations segment is responsible for 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 E liminations are certain corporate expenses, including 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. Cert ain 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 sa me as those referenced in note 1 . Results shown for the quarter are not necessarily representative of those which may be expected for the full ye ar 2016 , nor were those of the comparable 2015 period representative of those actually experienced for the full year 2015 . Similarly, such results are not necessarily those which would be achieved were each segment an unaffiliated business enterpr ise. Information by segment and a reconciliation to repo rted amounts for the quarters ended March 27, 2016 and March 29, 2015 are as follow s: Quarter Ended March 27, 2016 March 29, 2015 Net revenues External Affiliate External Affiliate U.S. and Canada $ 443,648 1,444 345,690 1,050 International 345,037 - 305,713 96 Entertainment and Licensing 42,495 4,701 60,631 3,409 Global Operations (a) - 297,189 1,466 236,843 Corporate and Eliminations - (303,334) - (241,398) $ 831,180 - 713,500 - Quarter Ended March 27, March 29, Operating profit (loss) 2016 2015 U.S. and Canada $ 78,335 41,423 International 2,853 1,903 Entertainment and Licensing 5,442 16,402 Global Operations (a) 3,444 (3,782) Corporate and Eliminations (b) (4,158) (1,741) $ 85,916 54,205 March 27, March 29, December 27, Total assets 2016 2015 2015 U.S. and Canada $ 2,751,504 3,430,196 2,654,270 International 1,983,747 2,088,096 2,345,847 Entertainment and Licensing 614,003 800,337 567,753 Global Operations 2,423,811 2,330,734 2,410,142 Corporate and Eliminations (b) (3,408,370) (4,402,247) (3,257,295) $ 4,364,695 4,247,116 4,720,717 (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 b etween actual and budgeted amounts are reflected in Corporate and Eliminations because allocations are translated from the US Dollar to local currency at budget rates when recorded, and Corporate and Eliminations also includes the elimination of inter-comp any balance sheet amounts. The following table represents consolidated International segment net revenues by major geographic region for the quarter s ended March 27, 2016 and March 29, 2015 . Quarter Ended March 27, March 29, 2016 2015 Europe $ 224,123 195,871 Latin America 55,596 57,608 Asia Pacific 65,318 52,234 Net revenues $ 345,037 305,713 The following table presents consolidated net revenues by class of principal products for the quarter s ended March 27, 2016 and March 29, 2015 . Quarter Ended March 27, March 29, 2016 2015 Boys $ 336,855 272,598 Games 231,142 235,649 Girls 165,353 117,127 Preschool 97,830 88,126 Net revenues $ 831,180 713,500

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 27, 2016
Earnings Per Share (Thousands of Dollars and Shares Except Per Share Data) [Abstract]
Earnings Per Share	2016 2015 Quarter Basic Diluted Basic Diluted Net earnings attributable to Hasbro, Inc. $ 48,751 48,751 26,667 26,667 Average shares outstanding 125,266 125,266 124,853 124,853 Effect of dilutive securities: Options and other share-based awards - 1,682 - 1,489 Equivalent Shares 125,266 126,948 124,853 126,342 Net earnings attributable to Hasbro, Inc. per common share $ 0.39 0.38 0.21 0.21

Other Comprehensive Earnings 17

Other Comprehensive Earnings (Loss) (Tables)	3 Months Ended
	Mar. 27, 2016
Other Comprehensive Earnings (Loss) [Abstract]
Schedule of Other Comprehensive Income, Tax Effect [Text Block]	Quarter Ended March 27, March 29, 2016 2015 Other comprehensive earnings (loss), tax effect: Tax benefit (expense) on cash flow hedging activities $ 3,256 (4,815) Tax expense on unrealized holding gains (953) (128) Reclassifications to earnings, tax effect: Tax expense (benefit) on cash flow hedging activities 1,749 342 Tax benefit on unrecognized pension and postretirement amounts reclassified to the consolidated statements of operations (667) (684) Total tax effect on other comprehensive earnings (loss) $ 3,385 (5,285)
Schedule of Accumulated Other Comprehensive Earnings (Loss)	Unrealized Holding Total Gains Gains on Foreign Accumulated Pension and (Losses) on Available- Currency Other Postretirement Derivative for-Sale Translation Comprehensive Amounts Instruments Securities Adjustments Earnings (Loss) 2016 Balance at December 27, 2015 $ (102,931) 79,317 1,258 (123,645) (146,001) Current period other comprehensive earnings (loss) 1,175 (33,347) 1,680 12,140 (18,352) Balance at March 27, 2016 $ (101,756) 45,970 2,938 (111,505) (164,353) 2015 Balance at December 27, 2014 $ (113,092) 43,689 1,900 (27,951) (95,454) Current period other comprehensive earnings (loss) 1,204 54,339 226 (47,311) 8,458 Balance at March 29, 2015 $ (111,888) 98,028 2,126 (75,262) (86,996)

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
	Mar. 27, 2016
Financial Instruments (Thousands of Dollars) [Abstract]
Schedule of Long-term Debt Instruments	March 27, 2016 March 29, 2015 December 27, 2015 Carrying Fair Carrying Fair Carrying Fair Cost Value Cost Value Cost Value 6.35% Notes Due 2040 $ 500,000 560,900 500,000 597,900 500,000 556,300 6.30% Notes Due 2017 350,000 370,965 350,000 389,305 350,000 374,045 5.10% Notes Due 2044 300,000 287,610 300,000 316,260 300,000 286,710 3.15% Notes Due 2021 300,000 302,880 300,000 308,970 300,000 300,060 6.60% Debentures Due 2028 109,895 122,456 109,895 131,039 109,895 121,269 Total long-term debt $ 1,559,895 1,644,811 1,559,895 1,743,474 1,559,895 1,638,384 Less: Deferred debt expenses 12,461 - 13,726 - 12,780 - Long-term debt 1,547,434 1,644,811 1,546,169 1,743,474 1,547,115 1,638,384

Fair Value of Financial Instr19

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 27, 2016
Fair Value of Financial Instruments (Thousands of Dollars) [Abstract]
Fair Value Hierarchy	Fair Value Measurements Using: Quoted Prices in Active Markets Significant for Other Significant Identical Observable Unobservable Fair Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) March 27, 2016 Assets: Available-for-sale securities $ 6,109 6,109 - - Derivatives 69,720 - 69,720 - Total assets $ 75,829 6,109 69,720 - Liabilities: Derivatives $ 3,932 - 3,932 - Option agreement 27,920 - - 27,920 Total liabilities $ 31,852 - 3,932 27,920 March 29, 2015 Assets: Available-for-sale securities $ 4,836 4,836 - - Derivatives 130,550 - 130,550 - Total assets $ 135,386 4,836 130,550 - Liabilities: Derivatives $ 3,513 - 3,513 - Option agreement 24,920 - - 24,920 Total liabilities $ 28,433 - 3,513 24,920 December 27, 2015 Assets: Available-for-sale securities $ 3,476 3,476 - - Derivatives 107,634 - 107,634 - Total assets $ 111,110 3,476 107,634 - Liabilities: Derivatives $ 1,240 - 1,240 - Option agreement 28,360 - - 28,360 Total Liabilities $ 29,600 - 1,240 28,360
Reconciliation of Level 3 Fair Value	2016 2015 Balance at beginning of year $ (28,360) (25,340) Gain from change in fair value 440 420 Balance at end of first quarter $ (27,920) (24,920)

Pension and Postretirement Be20

Pension and Postretirement Benefits (Tables)	3 Months Ended
	Mar. 27, 2016
Pension and Postretirement Benefits (Thousands of Dollars) [Abstract]
Components of net periodic cost	Quarter Ended Pension Postretirement March 27, March 29, March 27, March 29, 2016 2015 2016 2015 Service cost $ 998 1,011 132 150 Interest cost 4,606 4,605 294 285 Expected return on assets (5,507) (5,479) - - Net amortization and deferrals 2,132 2,201 - (114) Net periodic benefit cost $ 2,229 2,338 426 321

Derivative Financial Instrume21

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 27, 2016
Derivative Financial Instruments (Thousands of Dollars) [Abstract]
Summary of Cash Flow Hedging Instruments	March 27, 2016 March 29, 2015 December 27, 2015 Notional Fair Notional Fair Notional Fair Hedged transaction Amount Value Amount Value Amount Value Inventory purchases $ 1,277,977 69,748 912,376 135,512 1,380,488 108,521 Sales 82,072 258 232,643 (6,769) 97,350 803 Royalties and Other 270,207 (4,077) 84,518 (2,766) 54,360 (1,886) Total $ 1,630,256 65,929 1,229,537 125,977 1,532,198 107,438
Derivatives Fair Value by Balance Sheet Location	March 27, March 29, December 27, 2016 2015 2015 Prepaid expenses and other current assets Unrealized gains $ 53,774 74,219 78,910 Unrealized losses (6,890) (10,253) (5,932) Net unrealized gain $ 46,884 63,966 72,978 Other assets Unrealized gains $ 26,454 66,438 35,366 Unrealized losses (3,618) (914) (710) Net unrealized gains $ 22,836 65,524 34,656 Accrued liabilities Unrealized gains $ 1,900 3,149 - Unrealized losses (3,086) (6,662) - Net unrealized loss $ (1,186) (3,513) - Other liabilities Unrealized gains $ 1,349 - 241 Unrealized losses (3,954) - (437) Net unrealized loss $ (2,605) - (196)
Schedule of Derivative Instruments, Gain (Loss) in Statement of Operations	Quarter Ended March 27, March 29, 2016 2015 Statements of Operations Classification Cost of sales $ 15,698 10,063 Sales 98 (1,354) Royalties and Other 7 43 Net realized gains $ 15,803 8,752
Fair values of undesignated derivative financial instruments	March 27, March 29, December 27, 2016 2015 2015 Prepaid expenses and other current assets Unrealized gains $ - 1,088 - Unrealized losses - (28) - Net unrealized gain - 1,060 - Accrued liabilities Unrealized gains 321 - 416 Unrealized losses (462) - (1,460) Net unrealized loss (141) - (1,044) Total unrealized gain (loss), net $ (141) 1,060 (1,044)

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 27, 2016
Segment Reporting (Thousands of Dollars) [Abstract]
Net revenues by segment	Quarter Ended March 27, 2016 March 29, 2015 Net revenues External Affiliate External Affiliate U.S. and Canada $ 443,648 1,444 345,690 1,050 International 345,037 - 305,713 96 Entertainment and Licensing 42,495 4,701 60,631 3,409 Global Operations (a) - 297,189 1,466 236,843 Corporate and Eliminations - (303,334) - (241,398) $ 831,180 - 713,500 -
Operating profit (loss) by segments	Quarter Ended March 27, March 29, Operating profit (loss) 2016 2015 U.S. and Canada $ 78,335 41,423 International 2,853 1,903 Entertainment and Licensing 5,442 16,402 Global Operations (a) 3,444 (3,782) Corporate and Eliminations (b) (4,158) (1,741) $ 85,916 54,205
Total assets by segments	March 27, March 29, December 27, Total assets 2016 2015 2015 U.S. and Canada $ 2,751,504 3,430,196 2,654,270 International 1,983,747 2,088,096 2,345,847 Entertainment and Licensing 614,003 800,337 567,753 Global Operations 2,423,811 2,330,734 2,410,142 Corporate and Eliminations (b) (3,408,370) (4,402,247) (3,257,295) $ 4,364,695 4,247,116 4,720,717
Schedule of net revenues by international region	Quarter Ended March 27, March 29, 2016 2015 Europe $ 224,123 195,871 Latin America 55,596 57,608 Asia Pacific 65,318 52,234 Net revenues $ 345,037 305,713
Net revenues by product category	Quarter Ended March 27, March 29, 2016 2015 Boys $ 336,855 272,598 Games 231,142 235,649 Girls 165,353 117,127 Preschool 97,830 88,126 Net revenues $ 831,180 713,500

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Earnings Per Share (Thousands of Dollars and Shares Except Per Share Data) [Abstract]
Net Earnings Attributable to Hasbro, Inc.	$ 48,751	$ 26,667
Basic [Abstract]
Average shares outstanding (in shares)	125,266	124,853
Equivalent shares (basic) (in shares)	125,266	124,853
Net earnings attributable to Hasbro, Inc. per common share-basic (in dollars per share)	$ 0.39	$ 0.21
Diluted [Abstract]
Average shares outstanding (in shares)	125,266	124,853
Effect of dilutive securities:
Options and other share-based awards (in shares)	1,682	1,489
Equivalent shares (diluted) (in shares)	126,948	126,342
Net earnings attributable to Hasbro, Inc. per common share-diluted (in dollars per share)	$ 0.38	$ 0.21
Employee Stock Option and Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Options to acquire shares totaling excluded as antidilutive	492	782

Other Comprehensive Earnings 24

Other Comprehensive Earnings (Loss), Tax Effects on Changes in Other Comprehensive Earnings (loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Other Comprehensive Earnings (Loss) [Abstract]
Tax benefit (expense) on cash flow hedging activities	$ 3,256	$ (4,815)
Tax benefit (expense) on unrealized holding gains	(953)	(128)
Reclassification Adjustment from AOCE, Tax expense (benefit) on cash flow hedging activities	1,749	342
Reclassification Adjustment from AOCE, Tax expense (benefit) on amortization of unrecognized pension and postretirement amounts	(667)	(684)
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent, Total	3,385	$ (5,285)
Cash Flow Hedge gains to be Reclassified within Twelve Months	$ 44,500

Other Comprehensive Earnings 25

Other Comprehensive Earnings (Loss), Changes in the components of accumulated other comprehensive loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Accumulated Other Comprehensive (Loss) [Line Items]
Total accumulated other comprehensive earnings (loss), Beginning of Year	$ (146,001)	$ (95,454)
Other Comprehensive Earnings (Loss), Net of Tax, Total	(18,352)	8,458
Total accumulated other comprehensive earnings (loss), End of Period	(164,353)	(86,996)
Pension and Postretirement Amounts [Member]
Accumulated Other Comprehensive (Loss) [Line Items]
Total accumulated other comprehensive earnings (loss), Beginning of Year	(102,931)	(113,092)
Other Comprehensive Earnings (Loss), Net of Tax, Total	1,175	1,204
Total accumulated other comprehensive earnings (loss), End of Period	(101,756)	(111,888)
Gains (Losses) On Derivative Instruments [Member]
Accumulated Other Comprehensive (Loss) [Line Items]
Total accumulated other comprehensive earnings (loss), Beginning of Year	79,317	43,689
Other Comprehensive Earnings (Loss), Net of Tax, Total	(33,347)	54,339
Total accumulated other comprehensive earnings (loss), End of Period	45,970	98,028
Gains (Losses) On Derivative Instruments [Member] | Interest Rate Contract [Member]
Accumulated Other Comprehensive (Loss) [Line Items]
Total accumulated other comprehensive earnings (loss), End of Period	(19,076)
Gains (Losses) On Derivative Instruments [Member] | Foreign Exchange Forward [Member]
Accumulated Other Comprehensive (Loss) [Line Items]
Total accumulated other comprehensive earnings (loss), End of Period	65,046
Unrealized Holding Gains on Available-for-Sale Securities [Member]
Accumulated Other Comprehensive (Loss) [Line Items]
Total accumulated other comprehensive earnings (loss), Beginning of Year	1,258	1,900
Other Comprehensive Earnings (Loss), Net of Tax, Total	1,680	226
Total accumulated other comprehensive earnings (loss), End of Period	2,938	2,126
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive (Loss) [Line Items]
Total accumulated other comprehensive earnings (loss), Beginning of Year	(123,645)	(27,951)
Other Comprehensive Earnings (Loss), Net of Tax, Total	12,140	(47,311)
Total accumulated other comprehensive earnings (loss), End of Period	$ (111,505)	$ (75,262)

Other Comprehensive Earnings 26

Other Comprehensive Earnings (Loss), Reclassification From Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest Expense	$ 24,044	$ 24,585
Reclassification out of Accumulated Other Comprehensive Income [Member] | Gains (Losses) On Derivative Instruments [Member] | Interest Rate Contract [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest Expense	$ 450	$ 450

Financial Instruments (Details)

Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Dec. 27, 2015	Mar. 29, 2015
Debt Instrument [Line Items]
Carrying Cost	$ 1,559,895	$ 1,559,895	$ 1,559,895
Less: Deferred debt expenses	12,461	12,780	13,726
Long Term Debt	1,547,434	1,547,115	1,546,169
Fair Value	1,644,811	1,638,384	1,743,474
Notes 6.35% Due 2040 [Member]
Debt Instrument [Line Items]
Carrying Cost	500,000	500,000	500,000
Fair Value	$ 560,900	556,300	597,900
Maturity Date	Mar. 15, 2040
Interest Rate	6.35%
Notes 6.30% Due 2017 [Member]
Debt Instrument [Line Items]
Carrying Cost	$ 350,000	350,000	350,000
Fair Value	$ 370,965	374,045	389,305
Maturity Date	Sep. 15, 2017
Interest Rate	6.30%
Notes 5.10% Due 2044 [Member]
Debt Instrument [Line Items]
Carrying Cost	$ 300,000	300,000	300,000
Fair Value	$ 287,610	286,710	316,260
Maturity Date	May 16, 2044
Interest Rate	5.10%
Notes 3.15% Due 2021 [Member]
Debt Instrument [Line Items]
Carrying Cost	$ 300,000	300,000	300,000
Fair Value	$ 302,880	300,060	308,970
Maturity Date	May 17, 2021
Interest Rate	3.15%
Debentures 6.60% Due 2028 [Member]
Debt Instrument [Line Items]
Carrying Cost	$ 109,895	109,895	109,895
Fair Value	$ 122,456	$ 121,269	$ 131,039
Maturity Date	Jan. 18, 2028
Interest Rate	6.60%

Income Taxes (Details)

Income Taxes (Details) $ in Thousands	Mar. 29, 2015USD ($)
Income Tax Examination [Line Items]
Reclass from Prepaid Expenses and Other Current Assets to Other Assets	$ 73,230
Reclass from Accrued Liabilities to Other Liabilities	$ 3,658

Fair Value of Financial Instr29

Fair Value of Financial Instruments, Assests and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Mar. 27, 2016	Dec. 27, 2015	Mar. 29, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, assets	$ 6,109	$ 3,476	$ 4,836
Derivatives, assets	69,720	107,634	130,550
Total assets, fair value hierarchy	75,829	111,110	135,386
Derivatives, liabilities	3,932	1,240	3,513
Option Agreement	27,920	28,360	24,920
Total Liabilities	31,852	29,600	28,433
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	6,109	3,476	4,836
Derivatives, assets	0	0	0
Total assets, fair value hierarchy	6,109	3,476	4,836
Derivatives, liabilities	0	0	0
Option Agreement	0	0	0
Total 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	0	0	0
Derivatives, assets	69,720	107,634	130,550
Total assets, fair value hierarchy	69,720	107,634	130,550
Derivatives, liabilities	3,932	1,240	3,513
Option Agreement	0	0	0
Total Liabilities	3,932	1,240	3,513
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, assets	0	0	0
Derivatives, assets	0	0	0
Total assets, fair value hierarchy	0	0	0
Derivatives, liabilities	0	0	0
Option Agreement	27,920	28,360	24,920
Total Liabilities	$ 27,920	$ 28,360	$ 24,920

Fair Value of Financial Instr30

Fair Value of Financial Instruments, Significant Unobservable Inputs Roll Forward (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015	Dec. 27, 2015
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of year	$ (28,360)	$ (25,340)
Gain from change in fair value	440	420
Balance at end of period	(27,920)	(24,920)
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Other (income) expense, net	(4,872)	3,765
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Alternative Investments, Fair Value Disclosure	22,665	23,141	$ 22,539
Other (income) expense, net	$ 83	$ 17

Pension and Postretirement Be31

Pension and Postretirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Pension [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 998	$ 1,011
Interest cost	4,606	4,605
Expected return on assets	(5,507)	(5,479)
Net amortization and deferrals	2,132	2,201
Net periodic benefit cost	2,229	2,338
Contributions to defined benefit pension plans	370
Expected contributions during the remainder of fiscal year	3,130
Postretirement [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	132	150
Interest cost	294	285
Expected return on assets	0	0
Net amortization and deferrals	0	(114)
Net periodic benefit cost	$ 426	$ 321

Derivative Financial Instrume32

Derivative Financial Instruments, Narrative (Details) - Foreign Exchange Forward [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015	Dec. 27, 2015
Not Designated as Hedging Instrument [Member] | Intercompany Loans [Member]
Undesignated Hedges [Abstract]
Hedge description of hedged item	Intercompany Loans
Underlying risk	Foreign Currency
Notional amount of hedged item	$ 88,862	$ 119,395	$ 341,389
Not Designated as Hedging Instrument [Member] | Intercompany Loans [Member] | Other Income (Expense) [Member]
Undesignated Hedges [Abstract]
Derivative Instruments, Gain (Loss) Recognized in Income, Net	3,255	10,071
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member]
Hedge Ineffectiveness [Abstract]
Ineffective portion, amount of gains (losses) reclassified from other comprehensive earnings into earnings	3,957	0
Undesignated Hedges [Abstract]
Notional amount of hedged item	$ 1,630,256	$ 1,229,537	$ 1,532,198

Derivative Financial Instrume33

Derivative Financial Instruments, Notional Amounts and Fair Values of Foreign Currency Forward Contracts Designated as Cash Flow Hedging Instruments (Details) - Foreign Exchange Forward [Member] - Cash Flow Hedging [Member] - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Dec. 27, 2015	Mar. 29, 2015
Derivative [Line Items]
Notional amount of hedged item	$ 1,630,256	$ 1,532,198	$ 1,229,537
Fair value of hedged item	$ 65,929	107,438	125,977
Inventory Purchases [Member]
Derivative [Line Items]
Hedge description of hedged item	Inventory purchases
Notional amount of hedged item	$ 1,277,977	1,380,488	912,376
Fair value of hedged item	$ 69,748	108,521	135,512
Sales [Member]
Derivative [Line Items]
Hedge description of hedged item	Sales
Notional amount of hedged item	$ 82,072	97,350	232,643
Fair value of hedged item	$ 258	803	(6,769)
Royalties and Other [Member]
Derivative [Line Items]
Hedge description of hedged item	Royalties and Other
Notional amount of hedged item	$ 270,207	54,360	84,518
Fair value of hedged item	$ (4,077)	$ (1,886)	$ (2,766)

Derivative Financial Instrume34

Derivative Financial Instruments, Fair Values Derivatives, Balance Sheet Location, by Derivative Contract Type (Details) - Foreign Exchange Forward [Member] - USD ($) $ in Thousands	Mar. 27, 2016	Dec. 27, 2015	Mar. 29, 2015
Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Net unrealized gain (loss)	$ (141)	$ (1,044)	$ 1,060
Not Designated as Hedging Instrument [Member] | Prepaid expenses and other current assets [Member]
Derivatives, Fair Value [Line Items]
Unrealized gains	0	0	1,088
Unrealized losses	0	0	(28)
Net unrealized gain (loss)	0	0	1,060
Not Designated as Hedging Instrument [Member] | Accrued liabilities [Member]
Derivatives, Fair Value [Line Items]
Unrealized gains	321	416	0
Unrealized losses	(462)	(1,460)	0
Net unrealized gain (loss)	(141)	(1,044)	0
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Net unrealized gain (loss)	65,929	107,438	125,977
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Prepaid expenses and other current assets [Member]
Derivatives, Fair Value [Line Items]
Unrealized gains	53,774	78,910	74,219
Unrealized losses	(6,890)	(5,932)	(10,253)
Net unrealized gain (loss)	46,884	72,978	63,966
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Other Assets [Member]
Derivatives, Fair Value [Line Items]
Unrealized gains	26,454	35,366	66,438
Unrealized losses	(3,618)	(710)	(914)
Net unrealized gain (loss)	22,836	34,656	65,524
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Accrued liabilities [Member]
Derivatives, Fair Value [Line Items]
Unrealized gains	1,900	0	3,149
Unrealized losses	(3,086)	0	(6,662)
Net unrealized gain (loss)	(1,186)	0	(3,513)
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Other liabilities [Member]
Derivatives, Fair Value [Line Items]
Unrealized gains	1,349	241	0
Unrealized losses	(3,954)	(437)	0
Net unrealized gain (loss)	$ (2,605)	$ (196)	$ 0

Derivative Financial Instrume35

Derivative Financial Instruments, Gain (Loss) by Hedging Relationship, by Income Statement Location (Details) - Foreign Exchange Forward [Member] - Cash Flow Hedging [Member] - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion	$ 15,803	$ 8,752
Cost of Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion	15,698	10,063
Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion	98	(1,354)
Royalties and Other [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion	$ 7	$ 43

Segment Reporting, Net revenues

Segment Reporting, Net revenues by segment (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 27, 2016	Mar. 29, 2015
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues, external		$ 831,180	$ 713,500
Net revenues, affiliates		0	0
Operating Profit (Loss)		85,916	54,205
Corporate and Eliminations [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues, external		0	0
Net revenues, affiliates		(303,334)	(241,398)
Operating Profit (Loss)	[1]	(4,158)	(1,741)
U.S. and Canada [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues, external		443,648	345,690
Net revenues, affiliates		1,444	1,050
Operating Profit (Loss)		78,335	41,423
International [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues, external		345,037	305,713
Net revenues, affiliates		0	96
Operating Profit (Loss)		2,853	1,903
Entertainment and Licensing [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues, external		42,495	60,631
Net revenues, affiliates		4,701	3,409
Operating Profit (Loss)		5,442	16,402
Global Operations [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues, external	[2]	0	1,466
Net revenues, affiliates	[2]	297,189	236,843
Operating Profit (Loss)	[2]	$ 3,444	$ (3,782)
[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 b etween actual and budgeted amounts are reflected in Corporate and Eliminations because allocations are translated from the US Dollar to local currency at budget rates when recorded, and Corporate and Eliminations also includes the elimination of inter-comp any balance sheet amounts.
[2]	The Global Operations segment derives substantially all of its revenues, and thus its operating results, from intersegment activities.

Segment Reporting, Total assets

Segment Reporting, Total assets by segments (Details) - USD ($) $ in Thousands		Mar. 27, 2016	Dec. 27, 2015	Mar. 29, 2015
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets		$ 4,364,695	$ 4,720,717	$ 4,247,116
Corporate and Eliminations [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	[1]	(3,408,370)	(3,257,295)	(4,402,247)
U.S. and Canada [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets		2,751,504	2,654,270	3,430,196
International [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets		1,983,747	2,345,847	2,088,096
Entertainment and Licensing [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets		614,003	567,753	800,337
Global Operations [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets		$ 2,423,811	$ 2,410,142	$ 2,330,734
[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 b etween actual and budgeted amounts are reflected in Corporate and Eliminations because allocations are translated from the US Dollar to local currency at budget rates when recorded, and Corporate and Eliminations also includes the elimination of inter-comp any balance sheet amounts.

Segment Reporting, Internationa

Segment Reporting, International Segment Net Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 831,180	$ 713,500
International [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	345,037	305,713
Europe [Member] | International [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	224,123	195,871
Latin America [Member] | International [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	55,596	57,608
Asia Pacific [Member] | International [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 65,318	$ 52,234

Segment Reporting, Revenue by P

Segment Reporting, Revenue by Products (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Revenue from External Customer [Line Items]
Net revenue	$ 831,180	$ 713,500
Boys [Member]
Revenue from External Customer [Line Items]
Net revenue	336,855	272,598
Games [Member]
Revenue from External Customer [Line Items]
Net revenue	231,142	235,649
Girls [Member]
Revenue from External Customer [Line Items]
Net revenue	165,353	117,127
Preschool [Member]
Revenue from External Customer [Line Items]
Net revenue	$ 97,830	$ 88,126