Hasbro Posts Full-Year and Fourth Quarter 2017 Financial Results

[...]of the Act, the Company recognized a net charge of $296.5 million. Given the significant complexities associated with the changes in the U.S. tax code, the estimated financial impact for the fourth-quarter and full year 2017 are provisional and subject to further analysis which could result in...

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Bibliographic Details
Published inEntertainment Close - Up
Format Newsletter
LanguageEnglish
Published Jacksonville Close-Up Media, Inc 12.02.2018
Subjects
Computer & video games
Corporate profits
Dividends
Earnings per share
Financial performance
Goodwill
Net losses
Profitability
Social networks
Stockholders
Tax rates
Tax reform
Canada
United States > US
Asia
Europe
Latin America
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Summary:[...]of the Act, the Company recognized a net charge of $296.5 million. Given the significant complexities associated with the changes in the U.S. tax code, the estimated financial impact for the fourth-quarter and full year 2017 are provisional and subject to further analysis which could result in changes to this estimate during 2018 as further guidance is issued. 2017 net earnings also include a $0.25 per diluted share benefit versus full-year 2016 from the adoption of FASB ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting. "Hasbro's global team's execution of our Brand Blueprint drove revenue gains in Franchise Brands, Hasbro Gaming and Emerging Brands, including immersive brand experiences across consumer products and digital gaming," said Brian Goldner, Hasbro's chairman and chief executive officer.