Hasbro 2014 Annual Report Download - page 82

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HASBRO, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements — (Continued)
(Thousands of Dollars and Shares Except Per Share Data)
(3) Property, Plant and Equipment
2014 2013
Land and improvements ........................................... $ 6,784 7,870
Buildings and improvements ........................................ 234,149 241,886
Machinery, equipment and software .................................. 447,434 435,778
688,367 685,534
Less accumulated depreciation ...................................... 508,600 500,478
179,767 185,056
Tools, dies and molds, net of accumulated depreciation .................. 57,722 51,207
Total property, plant and equipment, net .............................. $237,489 236,263
Expenditures for maintenance and repairs which do not materially extend the life of the assets are charged to
operations as incurred.
(4) Goodwill and Intangibles
Goodwill and certain intangible assets relating to rights obtained in the Company’s acquisition of Milton
Bradley in 1984 and Tonka in 1991 are not amortized. These rights were determined to have indefinite lives and
total approximately $75,700. The Company’s other intangible assets are amortized over their remaining useful
lives, and accumulated amortization of these other intangibles is reflected in other intangibles, net in the
accompanying consolidated balance sheets.
The Company performs an annual impairment test on goodwill and intangible assets with indefinite
lives. This annual impairment test is performed in the fourth quarter of the Company’s fiscal year. In addition, if
an event occurs or circumstances change that indicate that the carrying value may not be recoverable, the
Company will perform an interim impairment test at that time. For the three fiscal years ended December 28,
2014, no such events occurred. The Company completed its annual impairment tests of goodwill in the fourth
quarters of 2014, 2013 and 2012 concluding that there was no impairment of its goodwill or indefinite lived
intangibles.
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