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HAS » Topics » We have a material amount of goodwill which, if it becomes impaired, would result in a reduction in our net income.This excerpt taken from the HAS 10-K filed Feb 27, 2008. We
have a material amount of goodwill which, if it becomes
impaired, would result in a reduction in our net
income.
Goodwill is the amount by which the cost of an acquisition
accounted for using the purchase method exceeds the fair value
of the net assets we acquire. Current accounting standards
require that goodwill no longer be amortized but instead be
periodically evaluated for impairment based on the fair value of
the reporting unit. At December 30, 2007, approximately
$471,177 or 14.6%, of our total assets represented goodwill.
Declines in our profitability may impact the fair value of our
reporting units, which could result in a write-down of our
goodwill. Reductions in our net income caused by the write-down
of goodwill could harm our results of operations.
None
Hasbro owns its corporate headquarters in Pawtucket, Rhode
Island consisting of approximately 343,000 square feet,
which is used in the North American and Global Operations
segments as well as for corporate functions. The Company also
owns an adjacent building consisting of approximately
23,000 square feet that is used in the corporate function.
In addition, the Company leases a building in East Providence,
Rhode Island consisting of approximately 120,000 square
feet that is used in the corporate function as well as in the
Global Operations and other segments. In addition to the above
facilities, the Company also leases office space consisting of
approximately 95,400 square feet in Renton, Washington as
well as warehouse space aggregating approximately
1,151,000 square feet in California and Texas that are also
used in the North American segment. The North American segment
also has leased offices and warehouses in Canada and Mexico.
The Company owns two manufacturing plants in East Longmeadow,
Massachusetts and Waterford, Ireland. The East Longmeadow plant
consists of approximately 1,148,000 square feet as well as
a leased warehouse of approximately 500,000 square feet and
is used in the North American and Global Operations segments.
The Waterford plant consists of approximately
244,000 square feet and is used in our Global Operations
segment. The Global Operations segment also leases an aggregate
of 83,800 square feet of office and warehouse space in Hong
Kong used in this segment as well as approximately
52,300 square feet of office space leased in China.
In the International segment, the Company leases or owns
property in approximately 21 countries. The primary locations in
the International segment are in the United Kingdom, Germany,
France, Spain, Australia and Chile.
The above properties consist, in general, of brick, cinder block
or concrete block buildings which the Company believes are in
good condition and well maintained.
The Company believes that its facilities are adequate for its
needs. The Company believes that should it not be able to renew
any of the leases related to its leased facilities that it could
secure similar substitute properties without a material adverse
impact on its operations.
We are currently party to certain legal proceedings, none of
which, individually or in the aggregate, we believe to be
material to our financial condition.
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None.
Executive
Officers of the Registrant
The following persons are the executive officers of the Company.
Such executive officers are elected annually. The position(s)
and office(s) listed below are the principal position(s) and
office(s) held by such persons with the Company, or its
subsidiaries or divisions employing such person. The persons
listed below generally also serve as officers and directors of
certain of the Company’s various subsidiaries at the
request and convenience of the Company.
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