Question
Refer to the HASBRO Annual Report 2018 file below. To answer this and the following 8 questions, consider only the information provided in the Consolidated
Refer to the HASBRO Annual Report 2018 file below. To answer this and the following 8 questions, consider only the information provided in the Consolidated Statement of Earnings, Consolidated Balance sheet, Consolidated Statement of Cash Flows, Consolidated Statement of Stockholders' Equity, and Footnote 10: Long-Term Debt. Also assume that revenue is presented net of bad debt expense.
1. Estimate cash collected from customers in 2018.
2. Estimate cash paid to suppliers in 2018.
HASBRO, INC. AND SUBSIDIARIES Consolidated Statements of Operations Fiscal Years
Ended in December (Thousands of Dollars Except Per Share Data)
2018 2017 2016
Net revenues $ 4,579, 646 5 ,209,782 5,019,822
Costs and expenses
Cost of sales 1,850, 678 2,033, 693 1,905,474
Royalties 351,660 405, 488 409,522
Product development 246,165 269,020 266,375
Advertising 439,922 501,813 468,940
Amortization of intangible assets 28,703 28,818 34,763
Program production cost amortization 43,906 35,798 35,931
Selling, distribution and administration 1,287,560 1,124,793 1,110,769
Total expenses 4,248,594 4,399,423 4,231,774
Operating profit 331,052 810,359 788,048
Non-operating (income) expense Interest expense 90,826 98,268 97,405
Interest income (22,357 ) (22,155 ) (9,367 )
Other (income) expense, net (7,819 ) (51,904 ) 7,521
Total non-operating expense, net 60,650 24,209 95,559
Earnings before income taxes 270,402 786,150 692,489
Income taxes 49,968 389,543 159,338
Net earnings 220,434 396,607 533,151
Net loss attributable to noncontrolling interests (18,229 )
Net earnings attributable to Hasbro, Inc. $ 220,434 396,607 551,380
Per common share Net earnings attributable to Hasbro, Inc. Basic $ 1.75 3.17 4.40
Diluted $ 1.74 3.12 4.34
Cash dividends declared $ 2.52 2.28 2.04
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