Hasbro 2015 Annual Report Download - page 92

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HASBRO, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements — (Continued)
(Thousands of Dollars and Shares Except Per Share Data)
At December 27, 2015 and December 28, 2014, the Company had the following assets and liabilities
measured at fair value in its consolidated balance sheets:
Fair
Value
Fair Value Measurements Using
Quoted
Prices in
Active
Markets
for
Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
December 27, 2015
Assets:
Available-for-sale securities ................. $ 26,015 3,476 11,247 11,292
Derivatives ............................... 107,634 — 107,634 —
Total assets ............................... $133,649 3,476 118,881 11,292
Liabilities:
Derivatives ............................... $ 1,240 — 1,240 —
Option agreement .......................... 28,360 — — 28,360
Total Liabilities ........................... $ 29,600 — 1,240 28,360
December 28, 2014
Assets:
Available-for-sale securities ................. $ 28,042 4,482 17,773 5,787
Derivatives ............................... 69,148 — 69,148 —
Total assets ............................... $ 97,190 4,482 86,921 5,787
Liabilities:
Derivatives ............................... $ 2,591 — 2,591 —
Option agreement .......................... 25,340 — — 25,340
Total Liabilities ........................... $ 27,931 — 2,591 25,340
Available-for-sale securities include equity securities of one company quoted on an active public market as
well as certain investments valued at net asset values quoted on private markets that are not active. These net asset
values are predominantly based on underlying investments which are traded on an active market; investments are
redeemable within 45 days. The Company also holds an available-for-sale investment which invests in hedge funds
which contain financial instruments that are valued using certain estimates which are considered unobservable in
that they reflect the investment manager’s own assumptions about the inputs that market participants would use in
pricing the asset or liability. The Company believes that these estimates are the best information available for use in
the fair value of this investment. The Company’s derivatives consist primarily of foreign currency forward
contracts. The Company used current forward rates of the respective foreign currencies to measure the fair value of
these contracts. The option agreement included in other liabilities at December 27, 2015 and December 28, 2014 is
valued using an option pricing model based on the fair value of the related investment. Inputs used in the option
pricing model include volatility and fair value of the underlying company which are considered unobservable inputs
as they reflect the Company’s own assumptions about the inputs that market participants would use in pricing the
asset or liability. The Company believes that this is the best information available for use in the fair value
measurement. There were no changes in these valuation techniques during 2015.
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