HASBRO INC
For the period ended Dec 29, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
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Fair Value of Financial Instruments
(14)Fair Value of Financial Instruments
The Company measures certain financial instruments at fair value. The fair value hierarchy consists of three levels: Level 1 fair values are based on quoted market prices in active markets for identical assets or liabilities that the entity has the ability to access; Level 2 fair values are those based on quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities; and Level 3 fair values are based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. There have been no transfers between levels within the fair value hierarchy.
As of December 29, 2024 and December 31, 2023, the Company had the following assets and liabilities measured at fair value in its Consolidated Balance Sheets (excluding assets for which the fair value is measured using net asset value per share):
| Fair Value Measurements Using | ||||
|---|---|---|---|---|
| (In millions) | FairValue | QuotedPrices inActiveMarketsforIdenticalAssets(Level 1) | SignificantOtherObservableInputs(Level 2) | SignificantUnobservableInputs(Level 3) |
| Assets: | ||||
| Available-for-sale securities | $0.6 | $0.6 | $— | $— |
| Derivatives | 9.7 | — | 9.7 | — |
| Total assets | $10.3 | $0.6 | $9.7 | $— |
| Liabilities: | ||||
| Derivatives | $1.7 | $— | $1.7 | $— |
| Total liabilities | $1.7 | $— | $1.7 | $— |
| Assets: | ||||
| Available-for-sale securities | $1.1 | $1.1 | $— | $— |
| Derivatives | 0.7 | — | 0.7 | — |
| Total assets | $1.8 | $1.1 | $0.7 | $— |
| Liabilities: | ||||
| Derivatives | $3.9 | $— | $3.9 | $— |
| Option agreement | 1.7 | — | — | 1.7 |
| Total liabilities | $5.6 | $— | $3.9 | $1.7 |
Available-for-sale securities include equity securities of one company quoted on an active public market.
The Company’s derivatives consist of foreign currency forward and option contracts. The Company uses current forward rates of the respective foreign currencies to measure the fair value of these contracts. The Company's option agreement as of December 31, 2023 related to the equity method investment in DFC and was included in Other liabilities. Due to the 2024 revaluation of DFC and resulting impairment charges, the Company reduced the option's fair value tozero during 2024. See Note 8, Equity Method Investment, for more information on the Company's investment in DFC.
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