HASBRO, INC.
For the period ended Dec 28, 2025. Filed Feb 25, 2026.
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FY2025 · Filed Feb 25, 2026
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20. Restructuring Actions
Starting in 2022, the Company implemented its Operational Excellence program ("the Program"), an ongoing enterprise-wide initiative intended to improve our business through programs that include targeted cost-savings, supply chain transformation and certain other restructuring actions designed to drive growth and enhance shareholder value. The Company's organizational structure changes have resulted and will further result in workforce reductions as well as the reallocation of people and resources. The Company currently anticipates that these changes will be substantially complete over the next three tosix months.
Charges related to the Program were recorded in Selling, distribution and administration expense within Corporate and Other. Going forward, the Company may implement further cost-saving initiatives under the Program that could result in additional restructuring charges including severance and other employee charges.
The liability balance associated with Program related restructuring actions consisted of severance payments recorded within Accrued liabilities in the Consolidated Balance Sheets as follows:
| (In millions) | 2025 | 2024 |
|---|---|---|
| Balance, beginning of year | $46.9 | $81.2 |
| Charges | 9.0 | 22.2 |
| Payments | (36.6) | (56.5) |
| Balance, end of year | $19.3 | $46.9 |
Total restructuring charges incurred to date under the Program as of December 28, 2025 equal $163.5 million.
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