Hasbro 2007 Annual Report Download - page 45

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In February 2007, the FASB issued Statement of Financial Accounting Standards No. 159, “The Fair
Value Option for Financial Assets and Financial Liabilities” (“SFAS No. 159”). SFAS No. 159 permits entities
to choose to measure many financial instruments and certain other items at fair value and establishes
presentation and disclosure requirements designed to facilitate comparisons between entities that choose
different measurement attributes for similar types of assets and liabilities. SFAS No. 159 is effective for the
Company beginning January 1, 2008. The Company does not expect the adoption of SFAS No. 159 to have a
material impact on its consolidated balance sheet and results of operations.
In December 2007, the FASB issued Statement of Financial Accounting Standards No. 141 (Revised
2007), “Business Combinations”, (“SFAS 141R), which makes certain modifications to the accounting for
business combinations. These changes include (1) the requirement for an acquirer to recognize all assets
acquired and liabilities assumed at their fair value on the acquisition date; (2) the requirement for an acquirer
to recognize assets or liabilities arising from contingencies at fair value as of that acquisition date; and (3) the
requirement that an acquirer expense all acquisition related costs. This Statement is required to be applied
prospectively to business combinations for which the acquisition date is on or after the beginning of fiscal
2009.
In December 2007, the FASB issued Statement of Financial Accounting Standards No. 160, “Non-
controlling Interests in Consolidated Financial Statements”, (“SFAS 160”) which requires noncontrolling
(minority) interests in subsidiaries to be initially measured at fair value and presented as a separate component
of shareholders’ equity. Current practice is to present noncontrolling interests as a liability or other item
outside of equity. This Statement is required to be applied prospectively after the beginning of fiscal 2009,
although the presentation and disclosure requirements are required to be applied on a retrospective basis. The
Company does not expect the adoption of SFAS No. 160 to have a material impact on its consolidated balance
sheet or results of operations.
The Company is not aware of any material amounts of potential exposure relating to environmental
matters and does not believe its environmental compliance costs or liabilities to be material to its operating
results or financial position.
Item 7A. Quantitative and Qualitative Disclosures About Market Risk
The information required by this item is included in Item 7 of Part II of this Report and is incorporated
herein by reference.
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