Hasbro 2009 Annual Report Download - page 87

Expected benefit payments under the defined benefit pension plans and expected gross benefit payments
and subsidy receipts under the postretirement benefit plan for the next five years subsequent to 2009 and in
the aggregate for the following five years are as follows:
Pension
Gross
Benefit
Payments
Subsidy
Receipts
Postretirement
2010. . . ............................................ $ 18,184 2,304 197
2011. . . ............................................ 18,748 2,077 198
2012. . . ............................................ 19,848 2,136 197
2013. . . ............................................ 19,688 2,195 195
2014. . . ............................................ 20,454 2,246 190
2015-2019 .......................................... 109,011 11,365 806
International Plans
Pension coverage for employees of Hasbro’s international subsidiaries is provided, to the extent deemed
appropriate, through separate defined benefit and defined contribution plans. At December 27, 2009 and
December 28, 2008, the defined benefit plans had total projected benefit obligations of $70,328 and $67,437,
respectively, and fair values of plan assets of $69,724 and $40,515, respectively. Substantially all of the plan
assets are invested in equity and fixed income securities. The pension expense related to these plans was
$4,903, $3,226 and $3,937 in 2009, 2008 and 2007, respectively. In fiscal 2010, the Company expects
amortization of $71 of prior service costs, $57 of unrecognized net losses and $(1) of unrecognized transition
obligation to be included as a component of net periodic benefit cost.
Expected benefit payments under the international defined benefit pension plans for the five years
subsequent to 2009 and in the aggregate for the five years thereafter are as follows: 2010: $1,291; 2011:
$1,405; 2012: $1,669; 2013: $2,104; 2014: $2,650; and 2015 through 2019: $16,017.
Postemployment Benefits
Hasbro has several plans covering certain groups of employees, which may provide benefits to such
employees following their period of active employment but prior to their retirement. These plans include
certain severance plans which provide benefits to employees involuntarily terminated and certain plans which
continue the Company’s health and life insurance contributions for employees who have left Hasbro’s employ
under terms of its long-term disability plan.
(14) Leases
Hasbro occupies certain offices and uses certain equipment under various operating lease arrangements.
The rent expense under such arrangements, net of sublease income which is not material, for 2009, 2008 and
2007 amounted to $43,562, $43,634 and $36,897, respectively.
Minimum rentals, net of minimum sublease income, which is not material, under long-term operating
leases for the five years subsequent to 2009 and in the aggregate thereafter are as follows: 2010: $25,932;
2011: $22,845; 2012: $17,439; 2013: $14,559; 2014: $6,728; and thereafter: $10,972.
All leases expire prior to the end of 2020. Real estate taxes, insurance and maintenance expenses are
generally obligations of the Company. It is expected that, in the normal course of business, leases that expire
will be renewed or replaced by leases on other properties; thus, it is anticipated that future minimum lease
commitments will not be less than the amounts shown for 2009.
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HASBRO, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements — (Continued)
(Thousands of Dollars and Shares Except Per Share Data)