Hasbro Files Q3 2024 10-Q

Ticker: HAS · Form: 10-Q · Filed: 2024-10-31T00:00:00.000Z

Sentiment: neutral

Topics: 10-Q, financials, quarterly-report

TL;DR

Hasbro's Q3 2024 10-Q is in: financials updated, check it out.

AI Summary

Hasbro, Inc. filed its 10-Q for the period ending September 29, 2024. The filing details the company's financial position and performance, including its current assets and liabilities. Specific financial figures and operational details are provided within the report.

Why It Matters

This filing provides investors and analysts with the latest financial data for Hasbro, Inc., crucial for understanding the company's performance and making informed investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Players & Entities

FAQ

What is the reporting period for this 10-Q filing?

The reporting period for this 10-Q filing is September 29, 2024.

When was this 10-Q filing submitted to the SEC?

This 10-Q filing was submitted on October 31, 2024.

What is Hasbro, Inc.'s Standard Industrial Classification code?

Hasbro, Inc.'s Standard Industrial Classification code is 3944, which pertains to GAMES, TOYS & CHILDREN'S VEHICLES (NO DOLLS & BICYCLES).

In which state was Hasbro, Inc. incorporated?

Hasbro, Inc. was incorporated in Rhode Island (RI).

What is the fiscal year end for Hasbro, Inc.?

Hasbro, Inc.'s fiscal year ends on December 29 (1229).

Filing Stats: 4,699 words · 19 min read · ~16 pages · Grade level 8 · Accepted 2024-10-31 16:16:28

Key Financial Figures

Filing Documents

Financial Information

Part I Financial Information 5

Financial Statements

Item 1. Financial Statements 5 Consolidated Balance Sheets 5 Consolidated Statements of Operations 6 Consolidated Statements of Comprehensive Earnings (Loss) 7 Consolidated Statements of Cash Flows 8 Consolidated Statements of Shareholders' Equity 9 Condensed Notes to Consolidated Financial Statements 11

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 29

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 42

Controls and Procedures

Item 4. Controls and Procedures 42

Other Information

Part II Other Information 44

Legal Proceedings

Item 1. Legal Proceedings 44

Risk Factors

Item 1A. Risk Factors 44

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 44

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 44

Other Information

Item 5. Other Information 44

Exhibits

Item 6. Exhibits 45

Signatures

Signatures 47 2 Special Note Regarding Forward-Looking Statements Certain statements in this Quarterly Report on Form 10-Q ("Quarterly Report") contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, which may be identified by the use of forward-looking words or phrases, include statements relating to: our business strategies and plans; products, gaming and entertainment; anticipated cost savings; expected debt repayments; expected impact of newly issued accounting pronouncements; and financial targets. Our actual actions or results may differ materially from those expected or anticipated in the forward-looking statements due to both known and unknown risks and uncertainties. Factors that might cause such a difference include, but are not limited to: our ability to successfully execute on our business strategy and transformation initiatives, and to achieve anticipated cost savings; our ability to successfully innovate and invest in digital gaming, licensing arrangements and partnerships; our ability to successfully compete in the play industry; our ability to transform our business and capabilities to address the changing global consumer landscape, including evolving demographics for our products and advancements in technology; our ability to design, develop, manufacture, and ship products on a timely and profitable basis; the concentration of our customers, potentially increasing the negative impact to our business of difficulties experienced by any of our customers or changes in their purchasing or selling patterns; inflation and downturns in global and regional economic conditions impacting one or more of the markets in which we sell products, which can negatively impact our customers and consumers, result in lower employment levels, consumer disposable income, retailer inventories and spending, including lower spending on purchases of our products; risks related to politi

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. HASBRO, INC. AND SUBSIDIARIES Consolidated Balance Sheets (Millions of Dollars Except Share Data) (Unaudited) September 29, 2024 October 1, 2023 December 31, 2023 ASSETS Current assets Cash and cash equivalents, including restricted cash of $ 0.3 million, $ 1.1 million and $ 0.6 million $ 696.1 $ 185.5 $ 545.4 Short-term investments 489.3 — — Accounts receivable, net 1,069.2 1,102.0 1,029.3 Inventories 375.4 617.7 332.0 Prepaid expenses and other current assets 391.6 286.2 416.9 Assets held for sale — 1,048.7 — Total current assets 3,021.6 3,240.1 2,323.6 Property, plant and equipment, less accumulated depreciation of $ 643.2 million, $ 603.3 million and $ 618.9 million 564.2 474.6 488.6 Other assets: Goodwill 2,278.9 3,238.8 2,279.2 Other intangible assets, net of accumulated amortization of $ 1,350.5 million, $ 1,229.3 million and $ 1,296.9 million 539.5 655.1 587.5 Other 825.7 731.6 862.0 Total other assets 3,644.1 4,625.5 3,728.7 Total assets $ 7,229.9 $ 8,340.2 $ 6,540.9 LIABILITIES, NONCONTROLLING INTERESTS AND SHAREHOLDERS' EQUITY Current liabilities Current portion of long-term debt $ 500.0 $ 60.0 $ 500.0 Accounts payable 420.3 371.4 340.6 Accrued liabilities 1,132.5 985.4 1,215.8 Liabilities held for sale — 607.4 — Total current liabilities 2,052.8 2,024.2 2,056.4 Long-term debt 3,462.6 3,654.6 2,965.8 Other liabilities 404.8 438.2 431.7 Total liabilities $ 5,920.2 $ 6,117.0 $ 5,453.9 Commitments and contingencies (Note 14) Shareholders' equity Preference stock of $ 2.50 par value. Authorized 5,000,000 shares; none issued — — — Common stock of $ 0.50 par value. Authorized 600,000,000 shares; issued 220,286,736 shares at September 29, 2024, October 1, 2023, and December 31, 2023 110.1 110.1 110.1 Additional paid-in capital 2,609.5 2,574.1 2,590.6 Retained earnings 2,408.2 3,348.3 2,188.4 Accumulated other comprehensive loss ( 227.8 ) ( 208.4 ) ( 201.5 ) Treasury stock, at cost; 80,7

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