This excerpt taken from the HAS 10-K filed Mar 9, 2005.
Principles of Consolidation
The consolidated financial statements include the accounts of Hasbro, Inc. and all majority-owned subsidiaries ("Hasbro" or the "Company"). Investments representing 20% to 50% ownership interest in other companies are accounted for using the equity method. The Company had no equity method investments at December 26, 2004 that were material to the consolidated financial statements. All significant intercompany balances and transactions have been eliminated.