Hasbro Inc – ‘10-K405’ for 12/26/99 – EX-13

On:  Friday, 3/24/00   ·   For:  12/26/99   ·   Accession #:  46080-0-3   ·   File #:  1-06682   ·   Correction:  This Filing was Corrected by the SEC on 3/29/00. ®

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Annual Report — [x] Reg. S-K Item 405   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K405     10-K Document                                         38    189K 
 3: EX-4        Exhibit 4 (B)(Ii)                                      7±    33K 
 2: EX-4        Exhibit 4(B)(I)                                       79±   360K 
 4: EX-10       Exhibit 10 (Ff)                                        7±    35K 
 5: EX-10       Exhibit 10 (Ss)                                        9±    46K 
 6: EX-11       Statement re: Computation of Earnings Per Share        1      7K 
 7: EX-12       Statement re: Computation of Ratios                    1      6K 
 8: EX-13       Annual or Quarterly Report to Security Holders        41±   174K 
 9: EX-21       Subsidiaries of the Registrant                         2±     9K 
10: EX-23       Consent of Experts or Counsel                          1      8K 
11: EX-27       Financial Data Schedule (Pre-XBRL)                     1      7K 

EX-13   —   Annual or Quarterly Report to Security Holders
Exhibit Table of Contents

                                                                EXHIBIT 13
HASBRO, INC. AND SUBSIDIARIES   

Selected Information Contained in   
Annual Report to Shareholders   

for the Year Ended December 26, 1999    

MARKET FOR THE REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS       
-------------------------------------------------------------------------       
The Company's Common Stock, Par Value $.50 per share (the "Common Stock"), is   
traded on the New York and London Stock Exchanges. Prior to June 23, 1999,      
the common stock was traded on the American and London Stock Exchanges. The     
following table sets forth the high and low sales prices as reported on the     
Composite Tape of the New York Stock Exchange and the American Stock            
Exchange, as applicable, and the cash dividends declared per share of Common    
Stock for the periods listed.                                                   

Sales Prices          
                ----------------            Cash Dividends
Period                     High         Low               Declared              
------                     ----         ---            --------------           
1998                                                                            
1st Quarter           $25 3/4      19 7/8               $.05            
2nd Quarter            27 1/16     23 1/8                .05            
3rd Quarter            27 1/4      19 5/8                .05            
4th Quarter            25 7/16     18 5/8                .05            

1999                                                                            
1st Quarter           $30 1/8      21 13/16             $.06            
2nd Quarter            37          27                    .06            
3rd Quarter            28 5/8      21 15/16              .06            
4th Quarter            24 1/4      16 7/8                .06            

The approximate number of holders of record of the Company's Common Stock as    
of February 29, 2000 was 7,800.                                                 

Dividends                                                                   
---------                                                                   

Declaration of dividends is at the discretion of the Company's Board of         
Directors and will depend upon the earnings, financial condition of the         
Company and such other factors as the Board of Directors deems appropriate.     
Payment of dividends is further subject to restrictions contained in            
agreements relating to the Company's outstanding long-term debt. At December    
26, 1999, under the most restrictive agreement the full amount of retained      
earnings is free of restrictions.                                               

SELECTED FINANCIAL DATA                                                         
-----------------------                                                         
(Thousands of Dollars and Shares Except per share Data and Ratios)          

                 Fiscal Year
                  ------------------------------------------------
                  1999       1998       1997       1996       1995
                  ----       ----       ----       ----       ----
Statement of                                                                    
Earnings Data:                                                                

Net revenues       $4,232,263  3,304,454  3,188,559  3,002,370  2,858,210   
Net earnings       $  188,953    206,365    134,986    199,912    155,571   

Per Common Share                                                                
Data:                                                                         

Earnings                                                                    
Basic            $      .97       1.04        .70       1.02        .79 
Diluted          $      .93       1.00        .68        .98        .77 
Cash dividends                                                              
declared          $      .24        .21        .21        .18        .14  

Balance Sheet Data:                                                             

Total assets       $4,463,348  3,793,845  2,899,717  2,701,509  2,616,388   
Long-term debt     $  420,654    407,180          -    149,382    149,991   

Ratio of Earnings to                                                            
Fixed Charges(1)          4.10       6.70       5.66       7.51       5.82    

Weighted Average                                                                
Number of Common                                                              
Shares:                                                                       
Basic                 194,917    197,927    193,089    195,061    197,272   
Diluted               202,103    205,420    206,353    209,283    210,075   

(1)  For purposes of calculating the ratio of earnings to fixed charges,    
fixed charges include interest, amortization of debt expense and  
one-third of rentals; earnings available for fixed charges        
represent earnings before fixed charges and income taxes.         

MANAGEMENT'S REVIEW                                                             
-------------------                                                             

Summary                                                                         
-------                                                                         
A percentage analysis of results of operations follows:                         

                                          1999       1998       1997
                                          ----       ----       ----

Net revenues                                   100.0%     100.0%     100.0%     
Cost of sales                                   40.1       41.3       42.6      
                                         -----      -----      -----
Gross profit                                    59.9       58.7       57.4      
Amortization                                     4.1        2.2        1.7      
Royalties, research and development             16.8       12.9       12.1      
Advertising                                     10.8       13.3       12.9      
Selling, distribution and administration        19.0       19.8       19.4      
Restructuring charge and acquired in-process                                    
research and development                        1.5         .6        3.9     
Interest expense                                 1.6        1.1         .9      
Other (income) expense, net                      (.4)       (.4)        .1      
                                         -----      -----      -----
Earnings before income taxes                     6.5        9.2        6.4      
Income taxes                                     2.0        2.9        2.2      
                                         -----      -----      -----
Net earnings                                     4.5%       6.3%       4.2%     
                                         =====      =====      =====

(Thousands of Dollars Except Share Data)                                        

Results of Operations                                                           
---------------------                                                           
Net earnings for the year ended December 26, 1999 were $188,953 compared to     
$206,365 and $134,986 in 1998 and 1997, respectively. Diluted earnings per      
share was $.93 in 1999, $1.00 in 1998 and $.68 in 1997. During 1999, the        
Company reorganized its business into segments. Net revenues and operating      
profits, excluding charges relating to the 1999 consolidation program, of the   
U.S. Toys, Games and International segments increased in 1999 over comparable   
1998 levels. The operating loss in Operations, which is not intended to be a    
profit center, and the operating profit in the Company's Other segments         
decreased, all largely due to the reasons discussed below. The overall          
increase in operating profit of the Games segment was partially offset by the   
unfavorable impact of increased costs incurred to expand the Company's          
offering of interactive software games. Part of this increased cost resulted    
from escalating research and development costs, coupled with the                
unanticipated shortfall in fourth quarter revenues attributable to the late     
introduction of new product as well as a significant industry-wide softening    
of the video and personal computer CD-ROM business in the fourth quarter and    
price erosion. On an after-tax basis, excluding charges attributable to the     
1999 consolidation program, this resulted in an approximate $53 million         
dollar loss from interactive software games.                                    

Net revenues for 1999 were $4,232,263 compared to $3,304,454 and $3,188,559     
for 1998 and 1997, respectively. This approximate 28% increase in revenues      
over 1998 levels was net of an approximate $62,000 unfavorable impact of        
foreign currency translation rates. The Games segment led revenue growth        
during the year, accounting for approximately 71% of the increase, followed     
by U.S. Toys and International, contributing 18% and 13% of revenue growth,     
respectively. Increased Games segment revenue was primarily driven by FURBY,    
which accounted for 24% of segment revenue in 1999 compared to 7% in 1998.      
Revenues from Wizards of the Coast, Inc. (Wizards), acquired in the fourth      
quarter of 1999, accounted for 14% of Games segment revenues. Increased         
activity in hand-held electronic games utilizing Company and licensed brands,   
interactive CD-ROM games  and traditional board games such as MONOPOLY and      
TRIVIAL PURSUIT also contributed to Games segment growth. U.S. Toy segment      
revenues were boosted by sales of STAR WARS product associated with the         
theatrical release of STAR WARS: EPISODE 1: THE PHANTOM MENACE. Revenues from   
this line accounted for 36% of segment revenues in 1999 compared to 13% in      
1998. This, as well as the popular POKEMON line, traditional toy offerings      
such as EASY BAKE and LITE BRITE and the full year inclusion of the MICRO       
MACHINES line acquired with Galoob Toys, Inc. (Galoob) in the fourth quarter    
of 1998, also contributed to revenue growth over 1998 by the U.S. Toy           
segment. The International segment contribution to revenue growth was           
primarily driven by sales of STAR WARS, POKEMON, TELETUBBIES and FURBY and      
hand-held electronic products in certain markets, all partly offset by          
decreased volume in traditional board games and puzzles as well as the          
negative impact of foreign currency translation. The results of Other           
segments negatively affected revenue by approximately 3%, primarily due to      
decreased revenues of KOOSH and candy product.                                  

The Company's gross profit margin increased to 59.9% from 58.7% in 1998, and    
57.4% in 1997. The increase in margin from 1998 principally reflects the        
increased revenues in the Games segment, where many product lines carry a       
higher gross margin. The improvement in 1998 from 1997 is attributable to a     
lower cost structure resulting from the removal of excess capacity, the         
increased level of sales of interactive products, which have a higher gross     
margin, and overall favorable material prices. The improvement in the 1998      
gross margin was moderated by the unanticipated shortfall in business with      
Toys `R Us which resulted in lower than anticipated factory utilization.        

Amortization expense of $173,533 includes amortization of both property         
rights and cost in excess of net assets acquired. This compares with $72,208    
in 1998 and $53,767 in 1997. During 1999, impairment charges of $38,449, or     
22% of amortization expense, were recognized, arising from the decision to      
discontinue or significantly reduce product line offerings as part of our       
1999 consolidation program. The remaining increases in all years were           
attributable to the acquisitions made during the period.                        

Expenditures for royalties, research and development increased to $711,790      
from $424,673 in 1998 and $386,912 in 1997. Included in these amounts are       
expenditures for research and development of $254,599 in 1999, $184,962 in      
1998 and $154,710 in 1997. As percentages of net revenues, research and         
development was 6.0% in 1999, up from 5.6% in 1998 and 4.9% in 1997.            
Contractual development commitments recognized for discontinued product lines   
in connection with the 1999 consolidation program amounted to $10,992. The      
remaining 1999 and the 1998 increases reflect the expenditures of the           
Company's 1998 acquisitions as well as the continuing investment to grow the    
Company's offering of interactive game titles. Revenues derived from            
entertainment based properties, such as STAR WARS and POKEMON, and resultant    
royalties, while continuous over the life of a contract, are generally higher   
in amount in the year a theatrical release takes place. It is anticipated       
that operating profit will also generally be higher in these years. The         
degree to which revenues, royalties and operating profits fluctuate is          
dependent not only on theatrical release dates, but video release dates as      
well. Royalty expense increased in dollars and as a percent of net revenues     
from 1998. Royalty commitments on discontinued product lines recognized in      
connection with the 1999 consolidation program amounted to $15,300. The         
remaining increase reflects the increased percentage of 1999 revenues           
obtained from licensed product carrying higher royalty rates, primarily STAR    
WARS. While royalties increased in dollars during 1998, they remained           
constant as a percentage of net revenues.                                       

On December 15, 1999, the Company announced plans to launch Games.com in mid-   
2000. Games.com will be the Games segment's online internet portal, allowing    
users to play Company branded games, have online chats with fellow gamers,      
compete in tournaments and purchase games and related product from an online    
store. The Company has entered into a non-binding memorandum of understanding   
for a three-year licensing and distribution agreement with Go2Net, Inc.         
providing technology, engineering and software management support for this      
site. Revenue sources are expected to come from advertising, online game and    
related product sales and premium subscription services. The Company expects    
to spend approximately $60 million during 2000 to develop and launch this       
site.                                                                           

Advertising expense decreased to 10.8% of net revenues from the 1998 level of   
13.3%, which compared to 12.9% in 1997. The decrease in 1999 primarily          
reflects the mix of more entertainment based properties, such as STAR WARS      
and POKEMON, marketed throughout our segments, which tend to carry a lower      
advertising to revenue ratio. Increased revenues in our Games segment from      
the popular FURBY and trading card games also contributed to the decrease       
from 1998, as these lines do not carry as great of an advertising spend ratio   
as other products. The increase in 1998 from 1997 reflects the mix of more      
non-entertainment based product in 1998 and the absence of support from a       
major motion picture release.                                                   

During 1999, selling, distribution and administration costs increased in        
dollars but decreased as a percentage of net revenues to $799,919, or 19.0%     
of revenues, from $655,938, or 19.9% in 1998 and $617,140, or 19.4%, in 1997.   
Of the increase in dollars, approximately 25% of the increase reflects the      
Games segment's 1999 acquisition of Wizards and approximately 31% of the        
increase reflects higher performance based bonus accruals. The remainder of     
the increase in dollars primarily reflects costs associated with the higher     
level of activity in 1999. The decreased percentage reflects higher 1999        
revenues as well as the Company's commitment to control these costs, and the    
benefit received from the 1997 global integration and profit enhancement        
program. In addition to normal inflationary trends, the 1998 increase over      
1997 reflects the impact of the Company's acquisitions and new operations in    
those years. Also adversely affecting the 1998 rate was the unanticipated       
reduction in revenues resulting from the changes in inventory management        
policies at Toys `R Us.                                                         

On December 7, 1999, the Company announced a program to further consolidate     
manufacturing and sourcing activities and product lines, as well as             
streamline and further regionalize marketing, sales and research and            
development activities worldwide. Costs associated with this consolidation      
program amounted to $141,575, and were recorded in the fourth quarter as        
follows:                                                                        

Restructuring charge                                         $  64,232          
                                                    --------
Other operating expenses:                                                       
Cost of sales                                                  8,740        
Amortization                                                  38,449        
Royalties, research and development                           26,292        
Advertising                                                    3,862        
                                                    --------
                                                      77,343
                                                    --------
Total consolidation program costs                            $ 141,575          
                                                    ========

The significant components of the restructuring charge were the planned         
closing of two factories, in Mexico and the United Kingdom, the reduction of    
capacity at the remaining three factories, the shift of production to third     
party manufacturers in the Far East and further consolidation and               
regionalization of the International marketing and sales structure. The plan    
anticipates the redundancy of approximately 2,200 employees, including 1,800    
in manufacturing and sourcing activities and 400 worldwide in research and      
product development, marketing, sales and administration. The restructuring     
charge of $64,232 represents approximately $38,700 of cash charges for          
severance benefits which will be disbursed over the employee's entitlement      
period, $14,300 of cash charges for lease and facility closing costs to be      
expended over the contractual lease term and closing process, and non-cash      
charges of $11,200 for fixed asset write-offs, arising primarily in the         
manufacturing area. Of the cash amount, approximately $4,700 has been paid      
for severance benefits relating to 193 employees terminated as of December      
26, 1999. Non-cash charges relating to fixed asset write-offs have been         
credited to the respective line items in the balance sheet. The remaining       
amount of approximately $48,000 is included in accrued liabilities. The         
restructuring plan is expected to be completed in fiscal 2000. The Company      
expects to generate pre-tax savings of approximately $16,000 in 2000 and        
$23,000 per year thereafter from these actions.                                 

The components of the consolidation program included in other operating         
expenses represent costs associated with exiting certain product lines and      
reevaluating other product lines which resulted in reduced expectations. The    
product lines being exited were not, either individually or in the aggregate,   
material to the Company's revenues or operating results. Approximately          
$12,000 represents cash charges that will be incurred on contractual royalty,   
product development and advertising commitments associated with the             
discontinued product lines. Non-cash charges of approximately $65,000 relate    
to asset write-offs and write-downs of underutilized assets. This includes      
impairment of intangible assets arising from the decision to discontinue or     
significantly reduce product line offerings. The resulting sum of               
undiscounted future cash flows of these assets was not sufficient to cover      
the carrying amount of the assets, and as such, they were written down to       
their fair market value. Items relating to property rights and licenses,        
goodwill, inventory, prepaid and other current assets have been credited to     
the respective asset in the balance sheet.                                      

During the third quarter of 1998, the Company incurred a one-time charge to     
write off the $20,000 appraised value of acquired in-process research and       
development of MicroProse, Inc. (MicroProse), which was acquired for a total    
purchase price of approximately $70,000 on September 14, 1998.                  

Late in the fourth quarter of 1997, the Company announced a global              
integration and profit enhancement program which included the redundancy of     
approximately 2,500 employees, principally in manufacturing, and provided for   
actions in three principal areas: a continued consolidation of the Company's    
manufacturing operations; the streamlining of marketing and sales, while        
exiting from certain underperforming markets and product lines; and the         
further leveraging of overheads. Of the $140,000 estimated costs related to     
these actions, $125,000 was reported as a restructuring charge and $15,000      
was reflected in cost of sales. Of the restructuring amount, approximately      
$54,000 related to severance and people costs, $52,000 to property, plant and   
equipment and leases and $19,000 to product line related costs. During 1998,    
the employment of all employees planned for redundancy was terminated. The      
program has been completed. The Company had initially estimated its pretax      
cost savings from this initiative to be $40,000 in 1998 and $70,000 per year    
thereafter. Because of the unanticipated shortfall in sales to Toys 'R Us       
during 1998 and changes in product mix, factory utilization rates were not as   
high as initially anticipated, which resulted in below target savings during    
1998. The Company estimated pretax savings of approximately $30,000 during      
1998. During 1999, the Company estimates that it has realized planned pretax    
savings of approximately $70,000. The positive cash flow impact from this       
program has and will occur largely in the form of reduced outflows for          
payment of costs associated with the manufacture and sourcing of products.      

Interest expense was $69,340 in 1999 compared to $36,111 during 1998 and        
$27,486 during 1997. The increase during the current year largely reflects      
the costs associated with funding the Company's 1998 acquisitions, the 1999     
acquisition of Wizards and the Company's stock repurchase program, all          
partially offset by the availability of funds generated during 1999 and 1998.   
Due to additional debt incurred during 1999, interest expense in 2000 is        
expected to increase.                                                           

Other income of $15,616 in 1999 compares with $14,707 in 1998 and expense of    
$3,097 in 1997. While 1999 and 1998 were essentially flat, the change between   
1998 and 1997 primarily reflects the larger benefits to Hasbro from its         
consolidated and unconsolidated operations in which it either is, or has, a     
minority partner, increased interest income and a decrease in foreign           
currency transactional losses.                                                  

Income tax expense as a percentage of pretax earnings in 1999 decreased to      
31.0% from 32.0% and 34.0% in 1998 and 1997, respectively. The decrease in      
all periods reflects the downward trend of the tax on international earnings    
due to the reorganization of the Company's global business.                     

Liquidity and Capital Resources                                                 
-------------------------------                                                 
The Company continued to have a strong and liquid balance sheet with cash and   
cash equivalents of $280,159 at December 26, 1999. Cash and cash equivalents    
were $177,748 and $361,785 at December 27, 1998 and December 28, 1997,          
respectively.                                                                   

Hasbro generated approximately $392,000 of net cash from its operating          
activities in 1999, compared with approximately $127,000 in 1998 and $544,000   
in 1997. The significant change between the 1999 and 1998 amounts results       
from a combination of factors. Included in the 1999 amount was $38,361          
utilized by changes in operating assets and liabilities, compared with          
$267,231 utilized in 1998 and $273,344 provided in 1997. Full year accounts     
receivable for 1999 increased at a rate significantly below that of the         
increase in fourth quarter revenues. Reflecting the acquisition of Wizards      
made during the fourth quarter and growth in inventory levels in the            
International segment for 2000 product introduction, inventories increased      
over prior year levels. Prepaid and other current assets also increased from    
the prior year, in part due to the acquisition of Wizards and the increased     
spending on product development. Reflecting amounts due for the Wizards         
acquisition, the remaining unpaid amounts from the 1999 consolidation program   
and increased bonus accruals in high performing segments, accounts payable      
and accrued liabilities increased by 35% over prior year levels. Royalty        
advances made in connection with the STAR WARS license that apply to future     
years have been included in long-term assets.                                   

During 1998, $267,231 was utilized by changes in operating assets and           
liabilities. With the $170,723 increase in fourth quarter revenues from the     
comparable period of 1997, most of which, under Hasbro's normal trading         
terms, became due after the end of the Company's fiscal year, accounts          
receivable increased. Inventories also increased, in part reflecting            
acquisitions made during the year, as did prepaid expenses and other current    
assets, largely reflecting higher advance royalty payments. Partially           
offsetting these utilizations of funds was a small increase in accounts         
payable and other accrued liabilities. During 1997, $273,344 was provided by    
changes in operating assets and liabilities. Contributing to this were          
reductions in accounts receivable, inventories and prepaid expenses and other   
current assets and an increase in trade payables and accrued liabilities,       
reflecting the unpaid portion of the costs associated with the Company's        
global integration and profit enhancement program.                              

Cash flows from investing activities were a net utilization of $429,092,        
$792,700 and $269,277 in 1999, 1998 and 1997, respectively. During 1999, the    
Company expended approximately $107,000 on additions to its property, plant     
and equipment while during 1998 and 1997 it expended approximately $142,000     
and $100,000, respectively. Of these amounts, 53% in 1999, 38% in 1998 and      
51% in 1997 were for purchases of tools, dies and molds related to the          
Company's products. The 1998 additions also include the expenditures            
associated with the consolidation of its Spanish manufacturing and marketing    
operations into one facility. During the three years, depreciation and          
amortization of plant and equipment was $103,791, $96,991 and $112,817,         
respectively.                                                                   

On September 30, 1999, the Company acquired the outstanding shares of           
Wizards, for an initial purchase price of $325,000, subject to additional       
payments based upon the closing balance sheet and future payments contingent    
upon achieving certain operating objectives. The total acquisition cost to      
date amounts to $412,769. The Company also made other smaller acquisitions      
and investments, none of which were significant. Hasbro made three major        
acquisitions during 1998, having an aggregate purchase price of $669,737. On    
April 1, 1998, it acquired substantially all of the business and operating      
assets of Tiger Electronics, Inc. and certain affiliates. On September 14,      
1998, it acquired the outstanding shares of MicroProse through a cash tender    
offer of $6.00 for each outstanding share of MicroProse. On October 30, 1998,   
it acquired the outstanding shares of Galoob through a cash tender offer of     
$12.00 for each outstanding share of Galoob. During 1997, Hasbro acquired       
certain assets of OddzOn Products, Inc. and Cap Toys, Inc., wholly owned        
subsidiaries of Russ Berrie and Company, Inc., for $167,379.                    

As part of the traditional marketing strategies of the toy industry, many       
sales made early in the year are not due for payment until the fourth quarter   
or early in the first quarter of the subsequent year, thus making it            
necessary for the Company to borrow significant amounts pending these           
collections. During the year, the Company borrowed through the issuance of      
commercial paper and short-term lines of credit to fund its seasonal working    
capital requirements in excess of funds available from operations and the       
issuance of long-term debt. During 2000, the Company expects to fund these      
needs in a similar manner and believes that the funds available to it are       
adequate to meet its needs. At March 5, 2000, the Company's unused committed    
and uncommitted lines of credit, including revolving credit agreements for      
$350,000 (long-term) and $350,000 (short-term), were in excess of $1,300,000.   

During 1999, net financing activities provided approximately $145,000 of        
funds to the Company, primarily through the use of short-term borrowings. Net   
financing activities during 1998 provided approximately $490,000, principally   
through the issuance of $100,000 of 5.60% notes due November 1, 2005,           
$150,000 of 6.15% notes due July 15, 2008 and $150,000 of 6.60% debentures      
due July 15, 2028. In 1997, net financing activities utilized approximately     
$125,000 of Hasbro's funds. During 1999, the Company also invested              
approximately $240,000 to repurchase its common stock in the open market.       
This compares with approximately $180,000 and $135,000 repurchased in the       
open market in 1998 and 1997, respectively.                                     

During October 1997, the Company called its 6% Convertible Subordinated Notes   
Due 1998 for redemption. Substantially all of these notes were converted into   
approximately 11.4 million shares of Hasbro common stock.                       

On December 9, 1997, the Board of Directors (the Board) canceled all prior      
share repurchase authorizations and authorized the purchase of up to an         
additional $500,000 of the Company's common stock. At December 26, 1999,        
$72,008 remained under this authorization. In addition to the remaining         
amount under this repurchase authorization, on December 6, 1999 the Board       
authorized an additional common share repurchase program up to $500,000. The    
Company anticipates that it will continue to repurchase its shares in the       
future, when it deems conditions to be favorable (see discussion of the Dutch   
Auction Tender Offer below), and will fund such purchases from working          
capital or available lines of credit. The shares acquired under these           
programs are being used for corporate purposes including issuance upon the      
exercise of stock options and warrants.                                         

Financial Risk Management                                                       
-------------------------                                                       
The Company is exposed to market risks attributable to fluctuations in          
foreign currency exchange rates primarily as a result of sourcing products in   
four currencies while marketing those products in more than thirty              
currencies. Results of operations will be affected primarily by changes in      
the value of the U.S. dollar, Hong Kong dollar, British pound, Euro and         
Mexican peso versus other currencies, principally in Europe and the United      
States.                                                                         

To manage this exposure, as of December 26, 1999, Hasbro has hedged a portion   
of its estimated fiscal 2000 foreign currency transactions using a              
combination of forward foreign exchange contracts and purchased foreign         
currency options. The Company estimates that a hypothetical immediate 10%       
unfavorable movement in the currencies involved could result in an              
approximate $4.7 million decrease in the fair value of these instruments. The   
Company is also exposed to foreign currency risk with respect to its net cash   
and cash equivalents or short-term borrowing positions in other than the U.S.   
dollar. Hasbro believes, however, that the risk on this net exposure would      
not be material to its financial condition. In addition, the Company's          
revenues and costs have been and will likely continue to be affected by         
changes in foreign currency rates. The Company does not speculate in and        
other than set forth above, the Company does not hedge foreign currencies.      

At December 26, 1999, the Company had fixed rate long-term debt of $420,654.    
Interest rate changes affect the fair value of this fixed rate debt but do      
not impact earnings or cash flows. The Company estimates that a hypothetical    
one percentage point decrease or increase in interest rates would increase or   
decrease the fair value of this debt by approximately $27,000 or $24,000,       
respectively.                                                                   

The Economy and Inflation                                                       
-------------------------                                                       
The Company continued to experience difficult economic environments in some     
parts of the world during 1999. The principal market for the Company's          
products is the retail sector where certain customers have experienced          
economic difficulty. The Company closely monitors the creditworthiness of its   
customers and adjusts credit policies and limits as it deems appropriate.       

The effect of inflation on the Company's operations during 1999 was not         
significant and the Company will continue its policy of monitoring costs and    
adjusting prices accordingly.                                                   

Year 2000                                                                       
---------                                                                       
During 1999, the Company concluded its efforts to address the Year 2000         
issue. A planned global 'enterprise' system became operational at many of the   
Company's major units replacing a number of older non-compliant systems and     
modifications or replacements were made of other non-compliant systems.         
Readiness reviews were completed on customers, vendors and service providers.   
Contingency plans were expanded to include potential Year 2000 related          
failures. Excluding costs related to the enterprise system, the Company's out   
of pocket costs associated with becoming Year 2000 compliant were               
approximately $2,500. These costs were expensed as incurred, and the Company    
does not anticipate any additional material expenditure as a result of Year     
2000 issues.                                                                    

Based on operations since January 1, 2000, including the leap year date of      
February 29, 2000, the Company has not experienced any significant disruption   
or change, and does not expect any significant impact to its ongoing business   
as a result of the Year 2000 issue. Additionally, the Company is not aware of   
any significant Year 2000 issues or problems that have arisen for its           
significant customers, vendors or service providers. As there can be no         
assurance that the Company's efforts to achieve Year 2000 readiness have been   
completely successful or that customers, vendors and service providers will     
not experience Year 2000 related failures in the future, the Company will       
continue to monitor its exposure to Year 2000 issues and will leave its         
contingency plans in place in the event that any significant Year 2000          
related issues arise.                                                           

Euro Conversion                                                                 
---------------                                                                 
Certain member countries of the European Union established fixed conversion     
rates between their existing currencies and the European Economic Monetary      
Union common currency, or Euro. While the Euro was introduced on January 1,     
1999, member countries will continue to use their existing currencies through   
January 1, 2002, with the transition period for full conversion to the Euro     
ending June 30, 2002. Transition to the Euro creates certain issues for the     
Company with respect to upgrading information technology systems for 2002       
full use requirements, reassessing currency risk, product pricing, amending     
business and financial contracts as well as processing tax and accounting       
records. The Company has and will continue to address these transition issues   
and does not expect the Euro to have a material effect on the results of        
operations or financial condition of the Company.                               

Forward-Looking Statements                                                      
--------------------------                                                      
This discussion contains "forward-looking statements" within the meaning of     
the Private Securities Litigation Reform Act of 1995. These statements may be   
identified by the use of forward-looking words or phrases such as               
"anticipate," "believe," "expect," "intend," "may," "planned," "potential,"     
"should," "will," and "would." These forward-looking statements are             
inherently subject to known and unknown risks and uncertainties. A variety of   
factors could cause actual results and experience to differ materially from     
the anticipated results or other expectations expressed in the forward-         
looking statements. These factors include, but are not limited to market        
conditions, third party actions or approvals and the impact of competition      
that could delay or increase the cost of implementation of our consolidation    
program or alter our actions and reduce actual results, and with respect to     
our on-line gaming site initiative, technical difficulties in adapting games    
to on-line format and establishing the on-line game site that could delay or    
increase the cost of the site becoming operational; the acceptance by           
customers of the games and other products and services to be offered at our     
on-line game site; and competition from other on-line game sites and other      
game playing formats as well as competition from other internet companies in    
recruiting and retaining talented employees. We undertake no obligation to      
revise the forward-looking statements contained in this discussion or to        
update the forward-looking statements to reflect events or circumstances        
occurring after the date of this discussion.                                    

Other Information                                                               
-----------------                                                               
The Company's revenue pattern continues to show the second half of the year     
more significant to its overall business and within that half, the fourth       
quarter most prominent. The first half of 1999 represented a greater            
proportion of full year revenues than the first half of 1998, principally       
because of the May 19, 1999 theatrical release of STAR WARS: EPISODE 1: THE     
PHANTOM MENACE. The trend of retailers over the past few years has been to      
make a higher percentage of their purchases within or close to the fourth       
quarter holiday consumer selling season, which includes Christmas.              

The Company is not aware of any material amounts of potential exposure          
relating to environmental matters and does not believe its compliance costs     
or liabilities to be material to its operating results or financial position.   

In June 1998, the Financial Accounting Standards Board (FASB) issued            
Statement of Financial Accounting Standards No. 133, Accounting for             
Derivative Instruments and Hedging Activities (SFAS 133). SFAS 133 was          
amended during 1999, requiring the Company to adopt SFAS 133 effective          
January 1, 2001.  SFAS 133 will require that the Company record all             
derivatives, such as foreign exchange contracts, in the balance sheet at fair   
value.  Changes in derivative fair values will either be recognized in          
earnings as an offset to the changes in the fair value of the related hedged    
assets, liabilities and firm commitments or, for forecasted transactions,       
deferred and recorded as a component of other shareholders' equity until the    
hedged transactions occur and are recognized in earnings.  The ineffective      
portion of a hedging derivative's change in fair value will be immediately      
recognized in earnings. The impact of SFAS 133 on the Company's financial       
statements will depend on several factors, including interpretive guidance      
issued from the FASB, the extent of the Company's hedging activities and use    
of equity and other financial derivatives, the Company's ability to forecast    
foreign currency transactions compared to actual results and the                
effectiveness of the hedging instruments used. However, the Company does not    
believe adoption of SFAS 133 will have a material impact on either the          
Company's financial condition or its results of operations.                     

On February 25, 2000, the Company announced plans to repurchase up to 17.25     
million shares of its common stock at a purchase price between $15.25 and       
$17.50 per share through a Modified Dutch Auction Tender Offer, commencing      
February 29 and expiring on March 27, 2000, unless extended by the Company.     
The Modified Dutch Auction tender procedure allows shareholders to select the   
price within the specified range at which each shareholder is willing to sell   
all or a portion of his or her shares to the Company. This repurchase will      
complete the repurchase authorization of 1997 and utilize part of the           
additional $500 million share repurchase authorization of December 1999.        

On March 15, 2000 the Company issued $750 million of debt securities in the     
form of $550 million of notes at 7.95% due March 15, 2003 and $200 million      
notes at 8.50% due March 15, 2006. The Company intends to use the proceeds of   
these notes to pay down short term debt primarily incurred in connection with   
the acquisition of Wizards and the repurchase of shares of its common stock,    
including repurchases of shares under the Modified Dutch Auction Tender         
Offer.                                                                          

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA                                     
-------------------------------------------                                     
See attached pages.                                                             

INDEPENDENT AUDITORS' REPORT    

The Board of Directors and Shareholders                                         
Hasbro, Inc.:                                                                   

We have audited the accompanying consolidated balance sheets of 
Hasbro, Inc. and subsidiaries as of December 26, 1999 and December 27, 1998     
and the related consolidated statements of earnings, shareholders' equity and   
cash flows for each of the fiscal years in the three-year period ended          
December 26, 1999. These consolidated financial statements are the              
responsibility of the Company's management. Our responsibility is to express    
an opinion on these consolidated financial statements based on our audits.      

We conducted our audits in accordance with generally accepted   
auditing standards. Those standards require that we plan and perform the        
audit to obtain reasonable assurance about whether the financial statements     
are free of material misstatement. An audit includes examining, on a test       
basis, evidence supporting the amounts and disclosures in the financial         
statements. An audit also includes assessing the accounting principles used     
and significant estimates made by management, as well as evaluating the         
overall financial statement presentation. We believe that our audits provide    
a reasonable basis for our opinion.                                             

 In our opinion, the consolidated financial statements referred to
above present fairly, in all material respects, the financial position of       
Hasbro, Inc. and subsidiaries as of December 26, 1999 and December 27, 1998     
and the results of their operations and their cash flows for each of the        
fiscal years in the three-year period ended December 26, 1999 in conformity     
with generally accepted accounting principles.                                  

/s/ KPMG LLP                                                                    

Providence, Rhode Island                                                        

February 7, 2000                                                                

 HASBRO, INC. AND SUBSIDIARIES

 Consolidated Balance Sheets
 December 26, 1999 and December 27, 1998

(Thousands of Dollars Except Share Data)

                  Assets                         1999       1998
                  ------                         ----       ----

Current assets                                                                  
Cash and cash equivalents                          $  280,159    177,748    
Accounts receivable, less allowance for                                     
doubtful accounts of $65,000 in 1999                                      
and $64,400 in 1998                                1,084,118    958,826   
Inventories                                           408,571    334,801    
Prepaid expenses and other current assets             358,804    318,611    
                                                ---------  ---------
Total current assets                              2,131,652  1,789,986  

Property, plant and equipment, net                      318,825    330,355      
                                                ---------  ---------
Other assets                                                                    
Cost in excess of acquired net assets, less                                 
accumulated amortization of $193,947 in 1999                              
and $152,008 in 1998                                 806,092    704,282   
Other intangibles, less accumulated amortization                            
of $300,632 in 1999 and $192,268 in 1998             949,789    837,899   
Other                                                 256,990    131,323    
                                                ---------  ---------
Total other assets                                2,012,871  1,673,504  
                                                ---------  ---------

Total assets                                     $4,463,348  3,793,845  
                                                =========  =========

 HASBRO, INC. AND SUBSIDIARIES

  Consolidated Balance Sheets, Continued
 December 26, 1999 and December 27, 1998

  (Thousands of Dollars Except Share Data)

Liabilities and Shareholders' Equity                1999       1998   
------------------------------------                ----       ----   

Current liabilities                                                             
Short-term borrowings                              $  714,669    372,249    
Trade payables                                        284,772    209,119    
Accrued liabilities                                   983,280    729,605    
Income taxes                                           88,606     55,327    
                                                ---------  ---------
Total current liabilities                         2,071,327  1,366,300  

Long-term debt                                          420,654    407,180      
Deferred liabilities                                     92,392     75,570      
                                                ---------  ---------
Total liabilities                                 2,584,373  1,849,050  
                                                ---------  ---------
Shareholders' equity                                                            
Preference stock of $2.50 par value.                                        
Authorized 5,000,000 shares; none issued                   -          -   
Common stock of $.50 par value.  Authorized                                 
300,000,000 shares; issued 209,694,630 shares                             
in 1999 and 209,698,516 shares in 1998               104,847    104,849   
Additional paid-in capital                            468,329    521,316    
Retained earnings                                   1,764,110  1,621,799    
Accumulated other comprehensive earnings              (32,982)    (9,625)   
Treasury stock, at cost, 16,710,620 shares in                               
1999 and 13,523,983 shares in 1998                  (425,329)  (293,544)  
                                                ---------  ---------
Total shareholders' equity                        1,878,975  1,944,795  
                                                ---------  ---------

Total liabilities and shareholders' equity       $4,463,348  3,793,845  
                                                =========  =========

See accompanying notes to consolidated financial statements.                    

 HASBRO, INC. AND SUBSIDIARIES

 Consolidated Statements of Earnings
Fiscal Years Ended in December

(Thousands of Dollars Except Share Data)

                                      1999       1998       1997
                                      ----       ----       ----

Net revenues                              $4,232,263  3,304,454  3,188,559      
Cost of sales                              1,698,242  1,366,061  1,359,058      
                                     ---------  ---------  ---------
Gross profit                         2,534,021  1,938,393  1,829,501
                                     ---------  ---------  ---------
Expenses                                                                        
Amortization                               173,533     72,208     53,767    
Royalties, research and development        711,790    424,673    386,912    
Advertising                                456,978    440,692    411,574    
Selling, distribution and administration   799,919    655,938    617,140    
Restructuring charge                        64,232          -    125,000    
Acquired in-process research and                                            
development                                     -     20,000          -   
                                     ---------  ---------  ---------
Total expenses                         2,206,452  1,613,511  1,594,393  
                                     ---------  ---------  ---------
Operating profit                       327,569    324,882    235,108
                                     ---------  ---------  ---------
Nonoperating (income) expense                                                   
Interest expense                            69,340     36,111     27,486    
Other (income) expense, net                (15,616)   (14,707)     3,097    
                                     ---------  ---------  ---------
Total nonoperating expense                53,724     21,404     30,583  
                                     ---------  ---------  ---------
Earnings before income taxes           273,845    303,478    204,525
Income taxes                                  84,892     97,113     69,539      
                                     ---------  ---------  ---------
Net earnings                        $  188,953    206,365    134,986
                                     =========  =========  =========

Per common share                                                                
Net earnings                                                                
Basic                                  $      .97       1.04        .70   
                                     =========  =========  =========
Diluted                                $      .93       1.00        .68   
                                     =========  =========  =========
Cash dividends declared                 $      .24        .21        .21    
                                     =========  =========  =========

See accompanying notes to consolidated financial statements.                    

 HASBRO, INC. AND SUBSIDIARIES

 Consolidated Statements of Cash Flows
  Fiscal Years Ended in December

  (Thousands of Dollars)

                                      1999       1998       1997
                                      ----       ----       ----

Cash flows from operating activities                                            
Net earnings                              $188,953    206,365    134,986    
Adjustments to reconcile net earnings                                       
to net cash provided by operating                                         
activities:                                                               
Depreciation and amortization of plant                                  
and equipment                           103,791     96,991    112,817 
Other amortization                       173,533     72,208     53,767  
Deferred income taxes                    (38,675)     1,679    (40,555) 
Acquired in-process research and                                        
development                                   -     20,000          - 
Change in operating assets and liabilities                                  
(other than cash and cash equivalents):                                   
(Increase) decrease in accounts                                         
receivable                              (11,248)  (126,842)    11,920 
(Increase) decrease in inventories       (44,212)   (44,606)    40,739  
(Increase) decrease in prepaid expenses                                 
and other current assets                (26,527)  (113,451)    20,326 
Long-term royalty advance               (150,000)         -          -  
Increase in trade payables                                              
and other current liabilities           193,626     17,668    200,359 
Other                                        2,271     (3,425)     9,482    
                                       -------    -------    -------
Net cash provided by operating                                      
 activities                            391,512    126,587    543,841
                                       -------    -------    -------

Cash flows from investing activities                                            
Additions to property, plant and                                            
equipment                                (107,468)  (141,950)   (99,356)  
Investments and acquisitions, net of                                        
cash acquired                            (352,417)  (667,736)  (172,116)  
Other                                       30,793     16,986      2,195    
                                       -------    -------    -------
Net cash utilized by investing                                      
  activities                           (429,092)  (792,700)  (269,277)
                                       -------    -------    -------

 HASBRO, INC. AND SUBSIDIARIES

  Consolidated Statements of Cash Flows, Continued
  Fiscal Years Ended in December

  (Thousands of Dollars)

                                      1999       1998       1997
                                      ----       ----       ----

Cash flows from financing activities                                            
Proceeds from borrowings with original                                      
maturities of more than three months      460,333    407,377    295,132   
Repayments of borrowings with original                                      
maturities of more than three months     (308,128)   (24,925)  (304,927)  
Net proceeds of other short-term                                            
borrowings                                226,103    271,895     21,599   
Purchase of common stock                  (237,532)  (178,917)  (134,880)   
Stock option and warrant transactions       50,358     58,493     37,258    
Dividends paid                             (45,526)   (42,277)   (39,694)   
                                       -------    -------    -------
Net cash provided (utilized) by                                     
  financing activities                  145,608    491,646   (125,512)
                                       -------    -------    -------

Effect of exchange rate changes on cash       (5,617)    (9,570)    (6,238)     
                                       -------    -------    -------
Increase (decrease) in cash                                         
 and cash equivalents                  102,411   (184,037)   142,814
Cash and cash equivalents at beginning                                          
of year                                     177,748    361,785    218,971     
                                       -------    -------    -------
Cash and cash equivalents at end                                    
 of year                              $280,159    177,748    361,785
                                       =======    =======    =======

Supplemental information                                                        
Cash paid during the year for                                               
Interest                                $ 64,861     25,135     23,480  
                                       =======    =======    =======
Income taxes                            $108,342    128,436    135,446  
                                       =======    =======    =======

Non-cash financing activities                                               
6% Convertible Subordinated Notes Due                                   
1998, converted into common stock      $      -          -    149,354 
                                       =======    =======    =======

See accompanying notes to consolidated financial statements.                    

                                                        [Enlarge/Download Table]
                                        HASBRO, INC. AND SUBSIDIARIES                                   

                               Consolidated Statements of Shareholders' Equity                          

                                            (Thousands of Dollars)                                      

                                                                    Accumulated                         
                                             Additional                Other                  Total     
                                   Common     Paid-in    Retained  Comprehensive  Treasury Shareholders'
                                    Stock     Capital    Earnings     Earnings      Stock     Equity    
                                 ---------   ---------   ---------   ---------   ---------   ---------  
                                                                                                        
Balance, December 29, 1996     $    66,080     282,922   1,364,285      19,993     (81,234)  1,652,046  
  Three-for-two stock split         33,039     (33,039)          -           -           -           -  
                                 ---------   ---------   ---------   ---------   ---------   ---------  
Balance, December 29, 1996,                                                                             
 as restated for stock split        99,119     249,883   1,364,285      19,993     (81,234)  1,652,046  
  Net earnings                           -           -     134,986           -           -     134,986  
  Other comprehensive earnings           -           -           -     (23,896)          -     (23,896) 
    Comprehensive earnings                                                                     111,090  
  Purchase of treasury stock             -           -           -           -    (134,880)   (134,880) 
  Stock option and warrant                                                                              
   transactions                          -      57,378           -           -      41,287      98,665  
  Dividends declared                     -           -     (41,783)          -           -     (41,783) 
  Conversion of 6% debt              5,730     147,354           -           -           -     153,084  
  Other                                  -        (117)          7           -           5        (105) 
                                 ---------   ---------   ---------   ---------   ---------   ---------  
Balance, December 28, 1997         104,849     454,498   1,457,495      (3,903)   (174,822)  1,838,117  
  Net earnings                           -           -     206,365           -           -     206,365  
  Other comprehensive earnings           -           -           -      (5,722)          -      (5,722) 
    Comprehensive earnings                                                                     200,643  
  Purchase of treasury stock             -           -           -           -    (178,917)   (178,917) 
  Stock option and warrant                                                                              
   transactions                          -      66,818           -           -      60,195     127,013  
  Dividends declared                     -           -     (42,061)          -           -     (42,061) 
                                 ---------   ---------   ---------   ---------   ---------   ---------  
Balance, December 27, 1998      $  104,849     521,316   1,621,799      (9,625)   (293,544)  1,944,795  
                                 =========   =========   =========   =========   =========   =========  

                                                        [Enlarge/Download Table]
                                         HASBRO, INC. AND SUBSIDIARIES                                   

                          Consolidated Statements of Shareholders' Equity, continued                     

                                             (Thousands of Dollars)                                      

                                                                     Accumulated                         
                                              Additional                Other                  Total     
                                    Common     Paid-in    Retained  Comprehensive  Treasury Shareholders'
                                     Stock     Capital    Earnings     Earnings      Stock     Equity    
                                  ---------   ---------   ---------   ---------   ---------   ---------  
                                                                                                         
 Balance, December 27, 1998      $  104,849     521,316   1,621,799      (9,625)   (293,544)  1,944,795  
   Net earnings                           -           -     188,953           -           -     188,953  
   Other comprehensive earnings           -           -           -     (23,357)          -     (23,357) 
     Comprehensive earnings                                                                     165,596  
   Purchase of treasury stock             -           -           -           -    (237,532)   (237,532) 
   Stock option and warrant                                                                              
    transactions                          -     (52,892)          -           -     105,747      52,855  
   Dividends declared                     -           -     (46,642)          -           -     (46,642) 
   Other                                 (2)        (95)          -           -           -         (97) 
                                  ---------   ---------   ---------   ---------   ---------   ---------  
 Balance, December 26, 1999      $  104,847     468,329   1,764,110     (32,982)   (425,329)  1,878,975  
                                  =========   =========   =========   =========   =========   =========  

See accompanying notes to consolidated financial statements.                                             

HASBRO, INC. AND SUBSIDIARIES   

Notes to Consolidated Financial Statements    

(Thousands of Dollars Except Share Data)    

(1) Summary of Significant Accounting Policies                                
------------------------------------------                            
Principles of Consolidation                                         
---------------------------                                         
The consolidated financial statements include the accounts of Hasbro,           
Inc. and all significant majority-owned subsidiaries (Hasbro or the             
Company). Investments in affiliates representing 20% to 50% ownership           
interest are accounted for using the equity method. All significant             
intercompany balances and transactions have been eliminated.                    

Preparation of Financial Statements                                 
-----------------------------------                                 
The preparation of financial statements in conformity with generally            
accepted accounting principles 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.            

Fiscal Year                                                         
-----------                                                         
Hasbro's fiscal years end on the last Sunday in December. Each of the           
reported three fiscal years are fifty-two week periods.                         

Cash and Cash Equivalents                                           
-------------------------                                           
Cash and cash equivalents include all cash balances and highly liquid           
investments purchased with a maturity to the Company of three months or         
less.                                                                           

Inventories                                                         
-----------                                                         
Inventories are valued at the lower of cost (first-in, first-out) or            
market.                                                                         

Long-Lived Assets                                                   
-----------------                                                   
The Company reviews long-lived assets for impairment whenever events or         
changes in circumstances indicate the carrying value may not be                 
recoverable. Recoverability is measured by a comparison of the carrying         
amount of an asset to future undiscounted net cash flows expected to be         
generated by the asset. If such assets were considered to be impaired,          
the impairment to be recognized would be measured by the amount by which        
the carrying value of the assets exceed their fair value. Fair value is         
determined based on discounted cash flows or appraised values, depending        
on the nature of the asset. Assets to be disposed of are carried at the         
lower of the carrying amount or their fair value less disposal costs.           

Cost in Excess of Net Assets Acquired and Other Intangibles     
-----------------------------------------------------------     
Approximately 45% of Hasbro's goodwill results from the 1984 acquisition        
of Milton Bradley Company (Milton Bradley), including its Playskool and         
international units, and the 1991 acquisition of Tonka Corporation              
(Tonka), including its Kenner, Parker Brothers and international units.         
Approximately 29% results from the Company's 1998 acquisitions of Tiger         
Electronics, Inc., MicroProse, Inc. and Galoob Toys, Inc.  An additional        
approximate 15% results from the Company's 1999 acquisition of Wizards of       
the Coast, Inc.  Goodwill is being amortized on the straight-line basis         
over lives ranging from seven to forty years.                                   

Substantially all of the other intangibles consist of the cost of               
acquired product rights. In establishing the value of such rights, the          
Company considers, but does not individually value, existing copyrights,        
trademarks, patents, license agreements and other product-related rights.       
Approximately 61% of these other intangibles relate to rights acquired in       
the acquisitions noted above. These rights, which were valued at their          
acquisition date based on the anticipated future cash flows from the            
underlying product lines, are being amortized over three to twenty-five         
years using the straight-line method. An additional approximate 12% of          
these other intangibles relate to rights acquired from a major motion           
picture studio and are being amortized over the contract life, in               
proportion to projected sales of the licensed products during the same          
period.                                                                         

Depreciation and Amortization                                   
-----------------------------                                   
Depreciation and amortization are computed using accelerated and                
straight-line methods to amortize the cost of property, plant and               
equipment over their estimated useful lives. The principal lives, in            
years, used in determining depreciation rates of various assets are: land       
improvements 15 to 19, buildings and improvements 15 to 25 and machinery        
and equipment 3 to 12.                                                          

Tools, dies and molds are amortized over a three year period or their           
useful lives, whichever is less, using an accelerated method.                   

Revenue Recognition                                                 
-------------------                                                 
Revenue from product sales is recognized upon shipment to customers.            
Provisions for discounts, rebates and returns are made when the related         
revenues are recognized.                                                        

Research and Development                                            
------------------------                                            
Research and product development costs for 1999, 1998 and 1997 were             
$254,599, $184,962 and $154,710, respectively.                                  

Advertising                                                         
-----------                                                         
Production costs of commercials and programming are charged to operations       
in the fiscal year during which the production is first aired. The costs        
of other advertising, promotion and marketing programs are charged to           
operations in the fiscal year incurred.                                         

Income Taxes                                                        
------------                                                        
Hasbro uses the asset and liability approach for financial accounting and       
reporting for income taxes. Deferred income taxes have not been provided        
on undistributed earnings of international subsidiaries as substantially        
all of such earnings are indefinitely reinvested by the Company.                

Comprehensive Income                                                
--------------------                                                
Comprehensive income is comprised primarily of gains and losses on the          
translation of foreign currency financial statements and also includes          
unrealized gains and losses on certain investment securities, net of tax.       
The related tax (benefit) expense of other comprehensive income items was       
$(3,187), $(1,684) and $1,005 for the years 1999, 1998 and 1997,                
respectively. Reclassification adjustments were not material for all            
years presented.                                                                

Foreign Currency Translation                                        
----------------------------                                        
Foreign currency assets and liabilities are translated into dollars at          
current rates, and revenues, costs and expenses are translated at average       
rates during each reporting period. Current earnings include gains or           
losses resulting from foreign currency transactions as well as                  
translation gains and losses resulting from the use of the U.S. dollar as       
the functional currency in highly inflationary economies. Other gains and       
losses resulting from translation of financial statements are the               
principal component of other comprehensive earnings.                            

Pension Plans, Postretirement and Postemployment Benefits           
---------------------------------------------------------           
Hasbro, except for certain international subsidiaries, has pension plans        
covering substantially all of its full-time employees. Pension expense is       
based on actuarial computations of current and future benefits. The             
Company's policy is to fund amounts which are required by applicable            
regulations and which are tax deductible. The estimated amounts of future       
payments to be made under other retirement programs are being accrued           
currently over the period of active employment and are also included in         
pension expense.                                                                

Hasbro has a contributory postretirement health and life insurance plan         
covering substantially all employees who retire under any of its United         
States defined benefit pension plans and meet certain age and length of         
service requirements. It also has several plans covering certain groups         
of employees which may provide benefits to such employees following their       
period of employment but prior to their retirement.                             

Risk Management Contracts                                                   
-------------------------                                                   
Hasbro does not enter into derivative financial instruments for                 
speculative purposes. The Company enters into foreign currency forward          
and option contracts to mitigate its exposure to foreign currency               
exchange rate fluctuations. This exposure relates to future purchases of        
inventory not denominated in the functional currency of the unit                
purchasing the inventory as well as other cross-border currency                 
requirements. Premiums on option contracts are amortized over their term        
and if such contract is terminated before its maturity, the unamortized         
premium is expensed and included in other expense, net. The carrying            
value of options is included in prepaid expenses and other current              
assets. Gains and losses on forward and option contracts meeting hedge          
accounting requirements are deferred and recognized as adjustments to the       
carrying value of the related transactions. In the event hedge accounting       
requirements are not met, gains and losses on such instruments are              
included currently in the statements of earnings.                               

Earnings Per Common Share                                           
-------------------------                                           
Basic earnings per share is computed by dividing net earnings by the            
weighted average number of shares outstanding for the year. Diluted             
earnings per share is similar except that the weighted average number of        
shares outstanding is increased by shares issuable upon exercise of stock       
options and warrants for which market price exceeds exercise price, less        
shares which could have been purchased by the Company with the related          
proceeds.                                                                       

A reconciliation of earnings per share for the three fiscal years ended         
December 26, 1999 is as follows:                                                

                      1999             1998             1997
                     ---------------  ---------------  ---------------
                      Basic  Diluted   Basic  Diluted   Basic  Diluted
                     ------- -------  ------- -------  ------- -------
 Net earnings       $188,953 188,953  206,365 206,365  134,986 134,986
Effect of dilutive                                                  
securities:                                                       
6% Convertible                                                  
    Notes due 1998         -       -        -       -        -   4,782
                     ------- -------  ------- -------  ------- -------
Adjusted net                                                        
  earnings          $188,953 188,953  206,365 206,365  134,986 139,768
                     ======= =======  ======= =======  ======= =======

Average shares                                                      
outstanding (in                                                   
  thousands)         194,917 194,917  197,927 197,927  193,089 193,089
Effect of dilutive                                                  
securities:                                                       
6% Convertible                                                  
    Notes due 1998         -       -        -       -        -   9,428
Options and                                                     
    warrants               -   7,186        -   7,493        -   3,836
                     ------- -------  ------- -------  ------- -------
 Equivalent shares   194,917 202,103  197,927 205,420  193,089 206,353
                     ======= =======  ======= =======  ======= =======

 Earnings per share $    .97     .93     1.04    1.00      .70     .68
                     ======= =======  ======= =======  ======= =======

(2) Acquisitions                                                              
------------                                                          

On September 30, 1999, Hasbro acquired Wizards of the Coast, Inc. for an        
initial purchase price of $325,000 subject to additional payments based         
upon the closing balance sheet and future payments contingent upon              
achieving certain operating objectives. The total acquisition cost to           
date amounts to $412,769 and has been accounted for using the purchase          
method.  Based upon estimates of fair market value, $77,039 has been            
allocated to net tangible assets, $214,700 has been allocated to property       
and related rights and $121,030 to goodwill.                                    

Hasbro made three major acquisitions during 1998, having an aggregate           
purchase price of $669,737. On April 1, it acquired substantially all of        
the business and operating assets of Tiger Electronics, Inc. and certain        
affiliates (Tiger). On September 14, 1998, it acquired MicroProse, Inc.         
(MicroProse) through a cash tender offer of $6.00 for each outstanding          
share of MicroProse. Upon completion of a short-form merger, MicroProse         
became a wholly owned subsidiary of the Company and each untendered share       
was converted into the right to receive $6.00 in cash. On October 30,           
1998, it acquired Galoob Toys, Inc. (Galoob) through a cash tender offer        
of $12.00 for each outstanding share of Galoob. Upon completion of a            
short-form merger, Galoob became a wholly owned subsidiary of the Company       
and each untendered share was converted into the right to receive $12.00        
in cash.                                                                        

These three acquisitions were accounted for using the purchase method,          
and accordingly, the net assets acquired have been recorded at their fair       
value and the results of their operations included from the dates of            
acquisition. Based on fair market value, $86,926 has been allocated to          
net tangible assets, $301,100 to product rights, $261,711 to goodwill and       
$20,000 to acquired in-process research and development. The appraised          
fair value of this acquired in-process research and development                 
(interactive game software projects under development at the date of            
acquisition) was determined using the discounted cash flow approach,            
considered the percentage of completion at the date of acquisition and          
was expensed at acquisition.                                                    

On a pro forma basis, reflecting the acquisitions described above as if         
they had taken place at the beginning of each period and after giving           
effect to adjustments recording the acquisitions, and excluding the             
charge for in-process research and development, unaudited net revenues,         
net earnings and basic and diluted earnings per share for the year ended        
December 26, 1999 would have been $4,630,368, $270,386, $1.39 and $1.34,        
respectively, and for the year ended December 27, 1998 would have been          
$3,685,696, $143,205, $.72 and $.70, respectively. These pro forma              
results are not indicative of either future performance or actual results       
which would have occurred had the acquisitions taken place at the               
beginning of the respective periods.                                            

(3) Inventories                                                               
-----------                                                           
                                                 1999       1998
                                                 ----       ----
Finished products                                $348,058    283,160
Work in process                                    13,470     12,698
Raw materials                                      47,043     38,943
                                                  -------    -------
                                                 $408,571    334,801
                                                  =======    =======

(4) Property, Plant and Equipment                                             
-----------------------------                                         
                                                 1999       1998
                                                 ----       ----
Land and improvements                            $ 16,323     14,748
Buildings and improvements                        199,713    197,295
Machinery and equipment                           355,958    295,810
                                                  -------    -------
                                                  571,994    507,853
Less accumulated depreciation                     298,766    227,820
                                                  -------    -------
                                                  273,228    280,033
Tools, dies and molds, net of                                       
 amortization                                      45,597     50,322
                                                  -------    -------
                                                 $318,825    330,355
                                                  =======    =======

Expenditures for maintenance and repairs which do not materially extend         
the life of the assets are charged to operations.                               

(5) Short-Term Borrowings                                                     
---------------------                                                 
Hasbro has available unsecured committed and uncommitted lines of credit        
from various banks approximating $760,000 and $645,000, respectively.           
Substantially all of the short-term borrowings outstanding at the end of        
1999 and 1998 represent borrowings made under, or supported by, these           
lines of credit and the weighted average interest rates of the                  
outstanding borrowings were 6.4% and 6.0%, respectively. Hasbro's working       
capital needs were fulfilled by borrowing under these lines of credit and       
through the issuance of commercial paper, both of which were on terms and       
at interest rates generally extended to companies of comparable                 
creditworthiness. The committed lines include $350,000 and $350,000             
available under long-term and short-term revolving credit agreements,           
respectively. These agreements contain certain restrictive covenants with       
which the Company is in compliance. Compensating balances and facility          
fees were not material.                                                         

(6) Accrued Liabilities                                                       
-------------------                                                   
                                                 1999       1998
                                                 ----       ----
Royalties                                        $178,211    116,603
Advertising                                       140,129    172,621
Payroll and management incentives                 114,852     54,622
Other                                             550,088    385,759
                                                  -------    -------
                                                 $983,280    729,605
                                                  =======    =======

(7) Long-Term Debt                                                            
--------------                                                        
1999       1998                                                                 
                                                 ----       ----
5.60% Notes Due 2005                             $100,000    100,000
6.15% Notes Due 2008                              150,000    150,000
6.60% Debentures Due 2028                         150,000    150,000
Other                                              20,654      7,180
                                                  -------    -------
                                                 $420,654    407,180
                                                  =======    =======

Current installments of $4,142 in 1999 and $260 in 1998 are aggregated with     
short-term borrowings. The maturities of long-term debt in 2001 and in the      
succeeding three years are $2,007, $1,041, $1,076 and $1,112.                   

(8) Income Taxes                                                              
------------                                                          
Income taxes attributable to earnings before income taxes are:                  

                                      1999       1998       1997
                                      ----       ----       ----
Current                                                             
  United States                       $ 77,512     40,256     62,042
  State and local                        5,566      5,226      8,296
  International                         40,489     49,952     39,756
                                       -------    -------    -------
                                       123,567     95,434    110,094
                                       -------    -------    -------
Deferred                                                            
   United States                        (40,131)    (6,458)   (31,533)
   State and local                       (3,440)      (554)    (2,793)
   International                          4,896      8,691     (6,229)
                                       -------    -------    -------
                                        (38,675)     1,679    (40,555)
                                       -------    -------    -------
                                      $ 84,892     97,113     69,539
                                       =======    =======    =======

Certain tax benefits are not reflected in income taxes in the statements        
of earnings. Such benefits of $16,735 in 1999, $14,377 in 1998 and $4,036       
in 1997, relate primarily to stock options.                                     

A reconciliation of the statutory United States federal income tax rate         
to Hasbro's effective income tax rate is as follows:                            

                                      1999       1998       1997
                                      ----       ----       ----
Statutory income tax rate               35.0%      35.0%      35.0% 
State and local income taxes, net         .5        1.0        1.7  
Goodwill amortization                    3.3        1.8        2.4  
Tax on international earnings           (7.9)      (5.4)      (4.9) 
Other, net                                .1        (.4)       (.2) 
                                      ----       ----       ----
                                       31.0%      32.0%      34.0%
                                      ====       ====       ====

The components of earnings before income taxes, determined by tax               
jurisdiction, are as follows:                                                   

                                      1999       1998       1997
                                      ----       ----       ----
United States                         $ 79,519    123,969    157,987
International                          194,326    179,509     46,538
                                       -------    -------    -------
                                      $273,845    303,478    204,525
                                       =======    =======    =======

The components of deferred income tax expense arise from various                
temporary differences and relate to items included in the statements of         
earnings.                                                                       

The tax effects of temporary differences that give rise to significant          
portions of the deferred tax assets and liabilities at December 26, 1999        
and December 27, 1998 are:                                                      

                                                 1999       1998
                                                 ----       ----
Deferred tax assets:                                                
  Accounts receivable                            $ 36,696     27,556
  Inventories                                      26,205     14,718
  Net operating loss carryovers                    28,930     31,608
  Operating expenses                               39,512     44,491
  Postretirement benefits                          12,243     12,269
  Other                                            99,143     74,955
                                                  -------    -------
    Gross deferred tax assets                     242,729    205,597
   Valuation allowance                             (15,146)   (13,261)
                                                  -------    -------
    Net deferred tax assets                       227,583    192,336
                                                  -------    -------
Deferred tax liabilities                          100,820     46,174
                                                  -------    -------
Net deferred income taxes                        $126,763    146,162
                                                  =======    =======

Hasbro has a valuation allowance for deferred tax assets at December 26,        
1999 of $15,146, which is an increase of $1,885 from the $13,261 at             
December 27, 1998. The allowance pertains to United States and                  
international operating loss carryforwards, some of which have no               
expiration and others that would expire beginning in 2002. If fully             
realized, $9,672 will reduce goodwill and the balance will reduce future        
income tax expense. Deferred tax liabilities relate primarily to property       
rights.                                                                         

Based on Hasbro's history of taxable income and the anticipation of             
sufficient taxable income in years when the temporary differences are           
expected to become tax deductions, it believes that it will realize the         
benefit of the deferred tax assets, net of the existing valuation               
allowance.                                                                      

Deferred income taxes of $115,646 and $100,332 at the end of 1999 and           
1998, respectively, are included as a component of prepaid expenses and         
other current assets, and $19,592 and $53,331, respectively, are included       
as a component of other assets. At the same dates, deferred income taxes        
of $1,236 and $491, respectively, are included as a component of accrued        
liabilities, and $7,239 and $7,010, respectively, are included as a             
component of deferred liabilities.                                              

The cumulative amount of undistributed earnings of Hasbro's international       
subsidiaries held for reinvestment is approximately $347,000 at December        
26, 1999. In the event that all international undistributed earnings were       
remitted to the United States, the amount of incremental taxes would be         
approximately $48,000.                                                          

(9) Capital Stock                                                             
-------------                                                         
Preference Share Purchase Rights                                    
--------------------------------                                    
Hasbro maintains a Preference Share Purchase Rights plan (the Rights            
Plan). Under the terms of the Rights Plan, each share of common stock is        
accompanied by a Preference Share Purchase Right. Each Right is only            
exercisable under certain circumstances and, until exercisable, the             
Rights are not transferable apart from Hasbro's common stock. When              
exercisable, each Right will entitle its holder to purchase until June          
30, 2009, in certain merger or other business combination or                    
recapitalization transactions, at the Right's then current exercise             
price, a number of the acquiring company's or Hasbro's, as the case may         
be, common shares having a market value at that time of twice the Right's       
exercise price.  Under certain circumstances, the Company may substitute        
cash, other assets, equity securities or debt securities for the common         
stock.  At the option of the Board of Directors of Hasbro (the Board),          
the rightholder may, under certain circumstances, receive shares of             
Hasbro's stock in exchange for Rights.                                          

Prior to the acquisition by the person or group of beneficial ownership         
of a certain percentage of Hasbro's common stock, the Rights are                
redeemable for $.01 per Right. The Rights Plan contains certain                 
exceptions with respect to the Hassenfeld family and related entities.          

Common Stock                                                        
------------                                                        
On December 9, 1997, the Board canceled all prior share repurchase              
authorizations and authorized the purchase of up to an additional               
$500,000 of the Company's common stock. At December 26, 1999, $72,008           
remained under this authorization.  In addition to the remaining amount         
under this repurchase authorization, on December 6, 1999, the Board             
authorized an additional common share repurchase program up to $500,000.        

On February 19, 1999, the Board declared a three-for-two stock split,           
payable in the form of a 50% stock dividend, on March 15, 1999 to               
shareholders of record on March 1, 1999.  All earnings per common share         
amounts, references to common stock and shareholders' equity amounts have       
been restated as if the stock split had occurred as of the earliest             
period presented.                                                               

(10) Stock Options and Warrants                                                 
--------------------------                                            
Hasbro has various stock option plans for employees as well as a plan for       
non-employee members of the Board (collectively, the plans) and has             
reserved 31,771,373 shares of its common stock for issuance upon exercise       
of options granted or to be granted under the plans. These options              
generally vest in equal annual amounts over three to five years. The            
plans provide that options be granted at exercise prices not less than          
market value on the date the option is granted and options are adjusted         
for such changes as stock splits and stock dividends. No options are            
exercisable for periods of more than ten years after date of grant.             
Certain of the plans permit the granting of awards in the form of stock         
options, stock appreciation rights, stock awards and cash awards. At            
December 26, 1999,awards made under these plans have been in the form of        
stock options.                                                                  

As permitted by Statement of Financial Accounting Standards No. 123 (SFAS       
123), Hasbro continues to apply Accounting Principles Board Opinion No.         
25 (APB 25) in accounting for the plans under which no compensation cost        
is recognized. Had compensation expense been recorded under the                 
provisions of SFAS 123, the impact on the Company's net earnings and            
earnings per share would have been:                                             

                                      1999       1998       1997
                                      ----       ----       ----
Reported net earnings                 $188,953    206,365    134,986
Pro forma compensation expense,                                     
  net of tax                            (18,335)   (10,339)    (5,880)
                                       -------    -------    -------
Pro forma net earnings                $170,618    196,026    129,106
                                       =======    =======    =======

Pro forma earnings per share                                        
  Basic                               $    .88        .99        .67
  Diluted                             $    .84        .95        .65
                                       =======    =======    =======

The weighted average fair value of options granted in 1999, 1998 and 1997       
were $12.13, $8.66 and $5.76, respectively. The fair value of each option       
grant is estimated on the date of grant using the Black-Scholes option          
pricing model with the following weighted average assumptions used for          
grants in 1999, 1998 and 1997, respectively: risk-free interest rates of        
5.60%, 5.70% and 6.20%; expected dividend yields of 0.78%, 0.85% and            
1.12% and expected volatility of approximately 34%, 26% and 21%, and            
expected lives of approximately 6 years.                                        

Additionally, the Company has reserved 16,762,500 shares of its common          
stock for issuance upon exercise of outstanding warrants. During 1999,          
5,737,500 warrants were exercised at an exercise price of $14.00. During        
1998, warrants to purchase 6,000,000 shares at an exercise price of             
$23.3333 per share were issued in connection with the acquisition of            
certain rights. The fair value of these warrants was $11.42 each on the         
date of grant.                                                                  

Information with respect to options and warrants, in thousands of shares,       
for the three years ended December 26, 1999 is as follows:                      

                                      1999       1998       1997
                                      ----       ----       ----
Number of shares:                                               
  Outstanding at beginning of year      36,361     31,424     20,452
    Granted                              7,168      8,639     14,191
     Exercised                           (8,313)    (3,468)    (2,651)
     Expired or canceled                 (1,440)      (234)      (568)
                                        ------     ------     ------
  Outstanding at end of year            33,776     36,361     31,424
                                        ======     ======     ======
  Exercisable at end of year            23,456     11,673     11,090
                                        ======     ======     ======
Weighted average exercise price:                                
    Granted                            $ 31.32      23.86      18.77
    Exercised                          $ 14.51      13.34      12.30
    Expired or canceled                $ 27.43      18.75      15.80
    Outstanding at end of year         $ 21.46      18.17      16.08
    Exercisable at end of year         $ 19.09      14.43      13.46
                                        ======     ======     ======

Information, in thousands of shares, with respect to the 33,776 options         
and warrants outstanding and the 23,456 exercisable at December 26, 1999,       
is as follows:                                                                  

                                    Weighted
                                                 Average      Weighted
                                                Remaining    Average
 Range of                                        Contractual  Exercise
Exercise Prices                        Shares   Life         Price  
---------------                        -------  ----------   -------
Outstanding                                                         
  $ 4.56-$13.86                          1,531   3.1 years    $10.67
  $14.00-$16.64                          4,924   4.3 years    $15.25
  $18.67-$23.27                         13,347   8.8 years    $18.93
  $23.33-$36.27                         13,974   9.6 years    $27.25
                                        ======                 =====
Exercisable                                                         
  $ 4.56-$13.86                          1,531                $10.67
  $14.00-$16.64                          3,719                $15.57
  $18.67-$23.27                         11,379                $18.72
  $23.33-$36.27                          6,827                $23.52
                                        ======                 =====

(11) Pension, Postretirement and Postemployment Benefits                        
---------------------------------------------------                   
Pension and Postretirement Benefits                                 
-----------------------------------                                 
Hasbro's net pension and profit sharing cost for 1999, 1998 and 1997 was        
approximately $12,600, $12,900 and $13,400, respectively.                       

United States Plans                                               
-------------------                                               
Substantially all United States employees are covered under at least one        
of several non-contributory defined benefit pension plans maintained by         
the Company. Benefits under the two major plans, principally covering           
non-union employees, are based primarily on salary and years of service.        
One of these plans is funded. Benefits under the remaining plans are            
based primarily on fixed amounts for specified years of service. One of         
these plans is also funded. At December 26, 1999, the two funded plans          
have plan assets of $242,889 and accumulated benefit obligations of             
$137,828. The unfunded plans have accumulated benefit obligations of            
$16,878.                                                                        

Hasbro also provides certain postretirement health care and life                
insurance benefits to eligible employees who retire and have either             
attained age 65 with 5 years of service or age 55 with 10 years of              
service. The cost of providing these benefits on behalf of employees who        
retired prior to 1993 is and will continue to be substantially borne by         
the Company. The cost of providing benefits on behalf of employees who          
retire after 1992 is shared, with the employee contributing an increasing       
percentage of the cost, resulting in an employee-paid plan after the year       
2002. The plan is not funded.                                                   

                                   Pension        Postretirement
                                ---------------    ---------------
                                1999     1998      1999     1998
                                ----     ----      ----     ----
Change in projected benefit                                         
---------------------------                                         
obligation                                                        
----------                                                        
Projected benefit obligation                                        
 at beginning of year          $ 207,063  184,589  $ 28,428   28,885
Service cost                       9,356    9,362       227      224
Interest cost                     13,670   12,798     1,775    1,893
Plan amendments                   (2,298)       -         -        -
 Actuarial (gain) loss            (32,438)   6,468    (3,263)    (271)
 Benefits paid                     (6,305)  (5,539)   (2,484)  (2,303)
Expenses paid                       (730)    (615)        -        -
                                 -------  -------   -------  -------
Projected benefit obligation                                        
 at end of year                $ 188,318  207,063  $ 24,683   28,428
                                 =======  =======   =======  =======

Change in plan assets                                               
---------------------                                               
Fair value of plan assets at                                        
 beginning of year             $ 219,410  196,634  $      -        -
Actual return on plan assets      30,061   28,522         -        -
Employer contribution                453      408         -        -
Benefits paid                     (6,305)  (5,539)        -        -
Expenses paid                       (730)    (615)        -        -
                                 -------  -------   -------  -------
Fair value of plan assets at                                        
 end of year                   $ 242,889  219,410  $      -        -
                                 =======  =======   =======  =======

 Funded status                   $ 54,571   12,347  $(24,683) (28,428)
Unrecognized net (gain) loss     (80,496) (39,402)     (406)   2,885
Unrecognized prior service cost    5,836    9,268         -        -
                                 -------  -------   -------  -------
 Accrued benefit cost            $(20,089) (17,787) $(25,089) (25,543)
                                 =======  =======   =======  =======

The assets of the funded plans are managed by investment advisors and           
consist primarily of pooled indexed and actively managed bond and stock         
funds. For measuring the expected pension accumulated benefit obligation,       
assumed discount rates of 7.75%, 6.75% and 7.00% were used for 1999, 1998       
and 1997, respectively; assumed long-term rates of compensation increase        
of 4.50% in 1999 and 1998 and 5.00% in 1997, and an assumed long-term           
rate of return on plan assets of 9.00% in all years.                            

For measuring the expected postretirement benefit obligation, an 7.25%,         
7.50% and 8.00% annual rate of increase in the per capita cost of covered       
health care benefits was assumed for 1999, 1998 and 1997, respectively.         
The 1999 and 1998 rates were further assumed to decrease gradually to           
4.50% in 2012, while the 1997 rate was assumed to decrease to 5.00% over        
this same period. All were assumed to remain constant after 2012. The           
discount rates used in the pension calculation were also used for the           
postretirement calculation.                                                     

                                      1999       1998       1997
                                      ----       ----       ----
Components of net periodic cost                                     
-------------------------------                                     
Pension                                                             
-------                                                             
Service cost                           $ 9,356      9,362      8,022
Interest cost                           13,670     12,798     11,451
 Expected return on assets              (19,484)   (17,465)   (14,517)
 Net amortization and deferrals            (786)      (448)      (465)
                                       -------    -------    -------
Net periodic benefit cost              $ 2,756      4,247      4,491
                                       =======    =======    =======
Postretirement                                                      
--------------                                                      
Service cost                           $   227        224        205
Interest cost                            1,775      1,893      2,039
Net amortization and deferrals              27         57         22
                                       -------    -------    -------
Net periodic benefit cost              $ 2,029      2,174      2,266
                                       =======    =======    =======

If the health care cost trend rate were increased one percentage point in       
each year, the accumulated postretirement benefit obligation at December        
26, 1999 and the aggregate of the benefits earned during the period and         
the interest cost would have each increased by approximately 10%.               

Hasbro also has a profit sharing plan covering substantially all of its         
United States non-union employees. The plan provides for an annual              
discretionary contribution by the Company which for 1999, 1998 and 1997         
was approximately $4,900, $5,000 and $5,100, respectively.                      

International Plans                                               
-------------------                                               
Pension coverage for employees of Hasbro's international subsidiaries is        
provided, to the extent deemed appropriate, through separate defined            
benefit and defined contribution plans.  These plans were neither               
significant individually nor in the aggregate.                                  

Postemployment Benefits                                             
-----------------------                                             
Hasbro has several plans covering certain groups of employees which may         
provide benefits to such employees following their period of active             
employment but prior to their retirement. These plans include certain           
severance plans which provide benefits to employees involuntarily               
terminated and certain plans which continue the Company's health and life       
insurance contributions for employees who have left Hasbro's employ under       
terms of its long-term disability plan.                                         

(12) Leases                                                                     
------                                                                
Hasbro occupies certain manufacturing facilities and sales offices and          
uses certain equipment under various operating lease arrangements. The          
rent expense under such arrangements, net of sublease income which is not       
material, for 1999, 1998 and 1997 amounted to $56,072, $50,932 and              
$48,090, respectively.                                                          

Minimum rentals, net of minimum sublease income which is not material,          
under long-term operating leases for the five years subsequent to 1999          
and in the aggregate are as follows:                                            

2000                                                        $ 40,084
2001                                                          33,976
2002                                                          26,274
2003                                                          22,834
2004                                                          20,451
Later years                                                  107,623
                                                             -------
                                                            $251,242
                                                             =======

All leases expire prior to 2015. Real estate taxes, insurance and               
maintenance expenses are generally obligations of the Company. It is            
expected that in the normal course of business, leases that expire will         
be renewed or replaced by leases on other properties; thus, it is               
anticipated that future minimum lease commitments will not be less than         
the amounts shown for 1999.                                                     

In addition, Hasbro leases certain facilities which, as a result of             
restructurings, are no longer in use. Future costs relating to such             
facilities were included as a component of the restructuring charge and         
are not included in the table above.                                            

(13) Consolidation Program and Restructuring Charge                             
----------------------------------------------                        
On December 7, 1999, the Company announced a program to further                 
consolidate manufacturing and sourcing activities and product lines, as         
well as streamline and further regionalize marketing, sales and research        
and development activities worldwide. Costs associated with this                
consolidation program amounted to $141,575, and were recorded in the            
fourth quarter as follows:                                                      

Restructuring charge                                         $  64,232          
                                                    --------
Other operating expenses:                                                       
Cost of sales                                                    8,740          
Amortization                                                    38,449          
Royalties, research and development                             26,292          
Advertising                                                      3,862          
                                                    --------
                                                      77,343
                                                    --------
Total consolidation program costs                            $ 141,575          
                                                    ========

The significant components of the restructuring plan include the closing        
of two factories in Mexico and the United Kingdom, reducing capacity at         
the remaining three factories, shifting production to third party               
manufacturers in the Far East and further consolidation and                     
regionalization of the International marketing and sales structure. This        
plan anticipates the redundancy of approximately 2,200 employees,               
including 1,800 in manufacturing and sourcing activities and 400                
worldwide in research and product development, marketing, sales and             
administration. The restructuring charge of $64,232 represents                  
approximately $38,700 of cash charges for severance benefits which will         
be disbursed over the employee's entitlement period, $14,300 of cash            
charges for lease and facility closing costs to be expended over the            
contractual lease term and closing process and non-cash charges of              
$11,200 for fixed asset write-offs, arising primarily in the                    
manufacturing area. Of the cash amount, approximately $4,700 has been           
paid for severance benefits relating to 193 employees terminated as of          
December 26, 1999. Non-cash charges relating to fixed asset write-offs          
have been credited to the respective line items on the balance sheet. The       
remaining amount of approximately $48,000 is included in accrued                
liabilities. The restructuring plan is expected to be completed in fiscal       
2000.                                                                           

The components of the consolidation program included in other operating         
expenses represent costs associated with exiting certain product lines          
and reevaluating other product lines resulting in reduced expectations.         
The product lines being exited were not, either individually or in the          
aggregate, material to the Company's revenues or operating results.             
Approximately $12,000 represents cash charges which will be incurred on         
contractual royalty, product development and advertising commitments            
associated with the discontinued product lines. Non-cash charges of             
approximately $65,000 relate to asset write-offs and write-downs of             
underutilized assets. This includes impairment of intangible assets             
arising from the decision to discontinue or significantly reduce product        
line offerings. The resulting sum of undiscounted future cash flows of          
these assets was not sufficient to cover the carrying amount of the             
assets, and as such, they were written down to their fair market value.         
Items relating to property rights and licenses, goodwill, inventory,            
prepaid and other current assets have been credited to the respective           
asset in the balance sheet.                                                     

Late in the fourth quarter of 1997, the Company announced a global              
integration and profit enhancement program which anticipated the                
redundancy of approximately 2,500 employees, principally in                     
manufacturing, and provided for actions in three principal areas: a             
continued consolidation of the Company's manufacturing operations; the          
streamlining of marketing and sales, while exiting from certain                 
underperforming markets and product lines; and the further leveraging of        
overheads. Of the $140,000 estimated costs related to these actions,            
$125,000 was reported as a restructuring charge and $15,000 was reflected       
in cost of sales. Of the restructuring amount, approximately $54,000            
related to severance and people costs, $52,000 to property, plant and           
equipment and leases and $19,000 to product line related costs. During          
1998, the employment of all employees planned for redundancy was                
terminated. This program has been completed.                                    

(14) Financial Instruments                                                      
---------------------                                                 
Hasbro's financial instruments include cash and cash equivalents,               
accounts receivable, short- and long-term borrowings, accounts payable          
and accrued liabilities. At December 26, 1999, the carrying cost of these       
instruments approximated their fair value. Its financial instruments also       
include foreign currency forwards and options. At December 26, 1999, the        
carrying value of these instruments approximated their fair value based         
on quoted or publicly available market information.                             

Hasbro uses foreign currency forwards and options, generally purchased          
for terms of not more than twelve months, to protect itself from adverse        
currency rate fluctuations on firmly committed and anticipated foreign          
currency transactions. These over-the-counter contracts, which hedge            
future purchases of inventory and other cross-border currency                   
requirements, are primarily denominated in United States and Hong Kong          
dollars and Irish punts and entered into with counterparties who are            
major financial institutions with which Hasbro also has other financial         
relationships. The Company believes any risk related to default by a            
counterparty to be remote.                                                      

The Company had the equivalent of approximately $85,000 and $130,000 of         
foreign currency forwards outstanding at December 26, 1999 and December         
27, 1998, respectively, and approximately $132,000 of foreign currency          
options outstanding at December 26, 1999. Gains and losses deferred under       
hedge accounting provisions are subsequently included in the measurement        
of the related foreign currency transaction. Gains and losses on                
contracts not meeting hedge accounting provisions are included currently        
in earnings. The aggregate amount of gains and losses resulting from all        
foreign currency transactions was not material.                                 

(15) Commitments and Contingencies                                            
-----------------------------                                         
Hasbro had unused open letters of credit of approximately $15,000 and           
$20,000 at December 26, 1999 and December 27, 1998, respectively.               

The Company routinely enters into license agreements with inventors,            
designers and others for the use of intellectual properties in its              
products. Certain of these agreements contain provisions for the payment        
of guaranteed or minimum royalty amounts. Under terms of currently              
existing agreements, in certain circumstances the Company may become            
liable for remaining guaranteed minimum royalties of up to $665,000             
between 2000 and 2007.  Of this amount, approximately $233,000 has been         
paid.  Approximately $83,000 is included in the $111,523 of prepaid             
royalties which are a component of prepaid expenses and other current           
assets in the balance sheet.  Included in other assets is $150,000              
representing the long-term portion of the amount paid in 1999.  Of the          
remaining unpaid minimum guaranty, Hasbro may be required to pay amounts        
as follows:                                                                     

2000           $   88,000         
2001               84,000         
2002              130,000         
2003                6,000         
2004                2,000         
2005              122,000         
         -------
      $  432,000
         =======

Such payments are related to royalties which are expected to be incurred        
on anticipated revenues in the years 2000 through 2007.                         

Hasbro is party to certain legal proceedings, substantially involving           
routine litigation incidental to the Company's business, none of which,         
individually or in the aggregate, is deemed to be material to the               
financial condition of the Company.                                             

(16) Segment Reporting                                                          
-----------------                                                     
Segment and Geographic Information                                  
----------------------------------                                  
Hasbro is a worldwide marketer and distributor of children's and family         
entertainment products, principally engaged in the design, manufacture          
and marketing of games and toys ranging from traditional to high-tech.          
During the second quarter of 1999, the Company redefined its focus and          
method of managing its business into two major areas, Toys and Games.           
Following this organizational adjustment, within its two key areas, under       
the provisions of Statement of Financial Accounting Standards No. 131,          
Disclosures about Segments of an Enterprise and Related Information, the        
Company's reportable segments are U.S. Toys, Games, International and           
Global Operations. Prior year amounts have been reclassified to reflect         
the Company's current focus.                                                    

In the United States, the U.S. Toy segment includes the design, marketing       
and selling of boys action figures, vehicles and playsets, girls toys,          
preschool toys and infant products and creative play products. The Games        
segment includes the development, marketing and selling of traditional          
board games and puzzles, handheld electronic games, electronic                  
interactive plush, children's consumer electronics, electronic learning         
aids, trading card and role-playing games and interactive software games        
based on the Company's owned and licensed brands. Within the                    
International segment, the Company develops, markets and sells both toy         
and game products in non-U.S. markets. Global Operations manufactures and       
sources product for the majority of the Company's segments. The Company         
also has other segments which license certain toy properties and which          
develop and market non-traditional toy and game based product realizing         
more than half of their revenues and the majority of their operating            
profit in the first half of the year, which is contra-seasonal to the           
rest of the Company's business. These other segments do not meet the            
quantitative thresholds for reportable segments and have been combined          
for reporting purposes.                                                         

Segment performance is measured at the operating profit level, prior to         
certain charges. In 1999, segment profitability was measured prior to           
$141,575 in charges incurred in connection with the 1999 consolidation          
program. For 1998, operating profits are reflected prior to the $20,000         
charge incurred to write-off acquired in-process research and development       
arising on the MicroProse acquisition. For 1997, operating profit is            
reflected prior to $140,000 of restructuring charges. Included in               
Corporate and eliminations are general corporate expenses, the                  
elimination of intersegment transactions and assets not identified with a       
specific segment. Intersegment sales and transfers are reflected in             
management reports at amounts approximating cost.                               

As a result of the complexity of the Company's organizational changes, it       
currently is unable to segregate assets and related expenses between the        
U.S. Toys and Games segments, and thus they are currently reported as           
one. It is anticipated that such items will be segregated in the future         
and will then be separately reported. Certain asset related expense items       
including depreciation and amortization of intangibles have been                
allocated to segments based upon estimates in order to arrive at segment        
operating profit. During 1999, the Company's Games segment acquired             
Wizards of the Coast, Inc. During 1998, the Company's present U.S. Toys         
segment acquired Galoob and the present Games segment acquired Tiger and        
MicroProse.                                                                     

The accounting policies of the segments are the same as those described         
in note 1 to the consolidated financial statements.                             

Information by segment and a reconciliation to reported amounts are as          
follows.                                                                        

                                                        [Enlarge/Download Table]

                                 Revenues                                                             
                                   from                            Depreciation                       
                                 External   Affiliate   Operating      and        Capital      Total  
                                Customers    Revenues      Profit  Amortization  Additions    Assets  
                                ---------   ---------   ---------   ---------   ---------   --------- 
                                                                                                      
1999                                                                                                  
----                                                                                                  
 U.S. Toys (a)                 $1,056,700           -      91,588                                     
 Games (a)                      1,703,216      81,948     259,314                                     
                                ---------   ---------   ---------   ---------   ---------   --------- 
  U.S. Toys and Games (a)       2,759,916      81,948     350,902     109,250      12,077   3,588,994 
 International                  1,227,949       6,403     140,567      34,150       9,539   1,285,342 
 Global Operations (b)             24,923   1,030,028      (1,878)     61,175      67,644     572,454 
 Other segments                   219,475      18,988       5,777      22,517       4,301     269,435 
 Corporate and eliminations             -  (1,137,367)    (26,224)     11,783      13,907  (1,252,877)
                                ---------   ---------   ---------   ---------   ---------   --------- 
  Segment total                 4,232,263           -     469,144     238,875     107,468   4,463,348 
 Consolidation program (c)              -           -    (141,575)     38,449           -           - 
                                ---------   ---------   ---------   ---------   ---------   --------- 
  Consolidated Total           $4,232,263           -     327,569     277,324     107,468   4,463,348 
                                =========   =========   =========   =========   =========   ========= 

1998                                                                                                  
----                                                                                                  
 U.S. Toys (a)                 $  894,279          61      55,103                                     
 Games (a)                      1,043,623       1,019     143,216                                     
                                ---------   ---------   ---------   ---------   ---------   --------- 
  U.S. Toys and Games (a)       1,937,902       1,080     198,319      54,543      12,739   2,390,147 
 International                  1,106,565        (174)    130,232      23,905      34,480     840,246 
 Global Operations (b)              6,453     935,683      (6,560)     62,397      71,585     415,872 
 Other segments                   253,534       8,992      35,565      19,106       4,925     354,717 
 Corporate and eliminations             -    (945,581)    (12,674)      9,248      18,221    (207,137)
                                ---------   ---------   ---------   ---------   ---------   --------- 
  Segment total                 3,304,454           -     344,882     169,199     141,950   3,793,845 
 Acquired in-process research                                                                         
  and development                       -           -     (20,000)          -           -           - 
                                ---------   ---------   ---------   ---------   ---------   --------- 
  Consolidated Total           $3,304,454           -     324,882     169,199     141,950   3,793,845 
                                =========   =========   =========   =========   =========   ========= 
                                                        [Enlarge/Download Table]

                                   Revenues                                                             
                                     from                            Depreciation                       
                                   External   Affiliate   Operating      and        Capital      Total  
                                  Customers    Revenues      Profit  Amortization  Additions    Assets  
                                  ---------   ---------   ---------   ---------   ---------   --------- 
                                                                                                        
1997                                                                                                    
----                                                                                                    
 U.S. Toys (a)                   $1,068,736           -      59,354                                     
 Games (a)                          725,683       3,151     151,352                                     
                                  ---------   ---------   ---------   ---------   ---------   --------- 
  U.S. Toys and Games (a)         1,794,419       3,151     210,706      45,381      13,604   1,676,254 
 International                    1,212,811      24,616     133,374      25,153       6,976     887,256 
 Global Operations (b)                8,108   1,117,281       5,061      74,153      60,821     714,656 
 Other segments                     173,221       3,148       8,586      14,045       2,222     267,756 
 Corporate and eliminations               -  (1,148,196)     17,381       7,852      15,733    (646,205)
                                  ---------   ---------   ---------   ---------   ---------   --------- 
  Segment total                   3,188,559           -     375,108     166,584      99,356   2,899,717 
 Restructuring                            -           -    (140,000)          -           -           - 
                                  ---------   ---------   ---------   ---------   ---------   --------- 
  Consolidated Total             $3,188,559           -     235,108     166,584      99,356   2,899,717 
                                  =========   =========   =========   =========   =========   ========= 

(a)  As a result of the complexity of the Company's organizational changes, it currently is unable to   
segregate assets and related expenses between the U.S. Toys and Games segments, and thus they are       
currently reported as one. It is anticipated that such items will be segregated beginning in fiscal 2000
and will then be separately reported. Certain asset related expense items including depreciation and    
amortization of intangibles have been allocated to segments based upon estimates in order to arrive at  
segment operating profit.                                                                               

(b)  The Global Operations segment derives substantially all of its revenues, and thus its operating    
results, from intersegment activities.                                                                  

(c)  The impact of the consolidation program to operating profit by segment was $16,150 to U.S. Toys,   
$35,732 to Games, $23,044 to International, $44,324 to Global Operations and $22,325 to Other segments. 

The following table presents consolidated net revenues by classes of            
principal products for the years ended in December:                             

                                          1999     1998       1997
                                          ----     ----       ----

Boys toys                             $1,232,300   891,600 1,152,900
Games and puzzles                      1,936,100 1,268,700 1,093,700
Interactive software games               229,400   192,300    87,000
Preschool toys                           273,600   341,600   317,200
Other                                    560,863   610,254   537,759
                                         ------- --------- ---------
Net revenues                          $4,232,263 3,304,454 3,188,559
                                       ========= ========= =========

Information as to Hasbro's operations in different geographical areas is        
presented below on the basis the Company uses to manage its business.           
Net revenues and the related pretax earnings are categorized based on           
location of the customer, while long-lived assets (property, plant and          
equipment, cost in excess of acquired net assets and other intangibles)         
are categorized based on their location:                                        

                                      1999       1998       1997
                                      ----       ----       ----
Net revenues                                                        
  United States                     $2,818,837  2,113,057  1,947,824
  International                      1,413,426  1,191,397  1,240,735
                                     ---------  ---------  ---------
                                    $4,232,263  3,304,454  3,188,559
                                     =========  =========  =========

Pretax earnings                                                     
  United States                     $  158,834    194,050    117,436
  International                        115,011    109,428     87,089
                                     ---------  ---------  ---------
                                    $  273,845    303,478    204,525
                                     =========  =========  =========

Long-lived assets                                                   
  United States                     $1,880,029  1,694,967  1,119,836
  International                        194,677    177,569    126,067
                                     ---------  ---------  ---------
                                    $2,074,706  1,872,536  1,245,903
                                     =========  =========  =========

Principal international markets include Western Europe, Canada, Mexico,         
Australia, New Zealand and Hong Kong.                                           

Other Information                                                   
-----------------                                                   
Hasbro markets its products primarily to customers in the retail sector.        
Although the Company closely monitors the creditworthiness of its               
customers, adjusting credit policies and limits as deemed appropriate, a        
substantial portion of its customers' ability to discharge amounts owed         
is dependent upon the overall retail economic environment.                      

Sales to the Company's two largest customers, Wal-Mart Stores, Inc. and         
Toys `R Us, Inc., amounted to 16% each of consolidated net revenues             
during 1999, 18% and 17%, respectively, during 1998 and 15% and 22%,            
respectively, during 1997.                                                      

Hasbro purchases certain components and accessories used in its                 
manufacturing process and certain finished products from manufacturers          
in the Far East. The Company's reliance on external sources of                  
manufacturing can be shifted, over a period of time, to alternative             
sources of supply for products it sells, should such changes be                 
necessary. However, if Hasbro were prevented from obtaining products            
from a substantial number of its current Far East suppliers due to              
political, labor or other factors beyond its control, the Company's             
operations would be disrupted while alternative sources of product were         
secured. The imposition of trade sanctions by the United States or the          
European Union against a class of products imported by Hasbro from, or          
the loss of "most favored nation" trading status by, the Peoples                
Republic of China could significantly increase the cost of the Company's        
products imported into the United States or Europe from China.                  

(17) Quarterly Financial Data (Unaudited)                                       
------------------------------------                                  
1999                                                              
----                                                              
       Quarter
       -----------------------------------
                    First   Second     Third     Fourth    Full Year
                    -----   ------     -----     ------    ---------
Net revenues      $668,398  874,574  1,098,179  1,591,112  4,232,263
Gross profit      $411,881  529,548    654,166    938,426  2,534,021
Earnings before                                                     
 income taxes     $ 19,993   46,796    123,434     83,622(a) 273,845
Net earnings      $ 13,795   32,289     85,170     57,699    188,953
                   =======  =======    =======  =========  =========
Per common share                                                    
Earnings                                                        
    Basic         $    .07      .17        .44        .30        .97
    Diluted       $    .07      .16        .43        .29        .93

Market price                                                    
High          $ 30 1/8   37       28 5/8     24 1/4      37 
   Low           $ 21 13/16 27       21 15/16   16 7/8      16 7/8

Cash dividends                                                  
   declared       $    .06      .06      .06        .06          .24
                   =======  =======  =======  =========    =========

1998                                                              
----                                                              
         Quarter
         -------------------------------------
                    First    Second    Third       Fourth  Full Year
                    -----    ------    -----       ------  ---------
Net revenues      $482,820  572,057  945,498    1,304,079  3,304,454
Gross profit      $278,508  324,962  543,129      791,794  1,938,393
Earnings before                                                     
 income taxes     $ 11,808    8,262   89,601(a)   193,807    303,478
Net earnings      $  7,793    5,453   61,330      131,789    206,365
                   =======  =======  =======    =========  =========
Per common share                                                    
Earnings                                                        
    Basic         $    .04      .03      .31          .67       1.04
    Diluted       $    .04      .03      .30          .65       1.00

Market price                                                    
    High          $ 25 3/4   27 1/16  27 1/4       25 7/16    27 1/4
    Low           $ 19 7/8   23 1/8   19 5/8       18 5/8     18 5/8

Cash dividends                                                  
   declared       $    .05      .05      .05          .05        .21
                   =======  =======  =======    =========  =========

1997                                                              
----                                                              
       Quarter
       -----------------------------------
                    First    Second    Third     Fourth    Full Year
                    -----    ------    -----     ------    ---------
Net revenues      $555,784  583,886  915,533  1,133,356    3,188,559
Gross profit      $320,413  330,969  512,506    665,613    1,829,501
Earnings before                                                     
 income taxes     $ 40,147   20,283  115,441     28,654(a)   204,525
Net earnings      $ 25,694   12,981   77,400     18,911      134,986
                   =======  =======  =======  =========    =========
Per common share                                                    
Earnings                                                        
    Basic         $    .13      .07      .41        .10          .70
    Diluted       $    .13      .07      .38        .09          .68

Market price                                                    
     High          $ 19 3/4   19 5/8   20 3/4     24 5/16      24 5/16
    Low           $ 16 1/16  15 1/4   17 5/8     17 1/8       15 1/4

Cash dividends                                                  
   declared       $    .05      .05      .05        .05          .21
                   =======  =======  =======  =========    =========

(a) In 1999 and 1997, includes $64,232 and $125,000, respectively               
relating to restructuring of operations and, in 1998, includes the              
expense impact of $20,000 relating to acquired in-process research              
and development.                                                                

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K405’ Filing		Date		Other Filings
		7/15/28
		6/30/09		4
		7/15/08
		3/15/06
		11/1/05		8-K
		3/15/03
		6/30/02		10-Q
		1/1/02
		1/1/01
Corrected on:		3/29/00
		3/27/00
Filed on:		3/24/00
		3/15/00
		3/5/00
		2/29/00		SC TO-I/A
		2/25/00
		2/7/00
		1/1/00
For Period End:		12/26/99
		12/15/99
		12/7/99		8-K,  S-3/A
		12/6/99
		9/30/99
		6/23/99
		5/19/99
		3/15/99
		3/1/99
		2/19/99
		1/1/99
		12/27/98		10-K405
		10/30/98		424B2
		9/14/98		SC 14D1/A
		4/1/98		8-K
		12/28/97		10-K405
		12/9/97		8-K
		12/29/96		10-K405
				List all Filings

14 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/28/24  Hasbro, Inc.                      10-K       12/31/23  138:20M
11/01/23  Hasbro, Inc.                      10-Q       10/01/23   91:9.7M
 8/04/23  Hasbro, Inc.                      10-Q        7/02/23   91:9.2M
 5/03/23  Hasbro, Inc.                      10-Q        4/02/23   89:8.6M
 2/22/23  Hasbro, Inc.                      10-K       12/25/22  132:20M
10/26/22  Hasbro, Inc.                      10-Q        9/25/22   85:9.9M
 7/26/22  Hasbro, Inc.                      10-Q        6/26/22   85:9.9M
 4/27/22  Hasbro, Inc.                      10-Q        3/27/22   93:9M
 2/23/22  Hasbro, Inc.                      10-K       12/26/21  139:29M
10/27/21  Hasbro, Inc.                      10-Q        9/26/21   97:10M
 7/28/21  Hasbro, Inc.                      10-Q        6/27/21  102:10M
 4/29/21  Hasbro, Inc.                      10-Q        3/28/21   94:15M
 2/24/21  Hasbro, Inc.                      10-K       12/27/20  136:35M
11/04/20  Hasbro, Inc.                      10-Q        9/27/20   92:10M