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 July 23, 2025

Gina Goetter
Chief Financial Officer
HASBRO, INC.
1027 Newport Avenue
Pawtucket, Rhode Island 02861

 Re: HASBRO, INC.
 Form 10-K for the Fiscal Year Ended December 29, 2024
 Filed February 27, 2025
 File No. 001-06682
Dear Gina Goetter:

 We have limited our review of your filing to the financial statements
and related
disclosures and have the following comments.

 Please respond to this letter within ten business days by providing the
requested
information or advise us as soon as possible when you will respond. If you do
not believe a
comment applies to your facts and circumstances, please tell us why in your
response.

 After reviewing your response to this letter, we may have additional
comments.
 July 23, 2025
Page 2
Form 10-K for the Fiscal Year Ended December 29, 2024
Item 7. Management's Discussion and Analysis of Financial Condition and Results
of
Operations
Segment Results, page 36

1. In future filings, where you describe two or more business reasons that
contributed to
 a material change in a financial statement line item between periods,
please quantify,
 where possible, the extent to which each factor contributed to the
overall change in
 that line item, including any offsetting factors. We note your
disclosures that the
 changes in the Consumer Products and Wizards of the Coast and Digital
Gaming
 segments' net revenues and operating profit (loss) were due to various
factors. To the
 extent possible, quantify the impact of each contributing factor in
dollars and/or
 percentage, expand on the reasons driving these changes, and provide
greater
 transparency into the material components and potential variability of
your segment
 net revenues and segment operating profit (loss).
Liquidity and Capital Resources
Cash Flow, page 41

2. Please provide a more robust analysis and discussion of changes in
operating cash
 flows in future filings. In doing so, explain the underlying reasons and
implications of
 material changes between periods to provide investors with an
understanding of trends
 and variability in cash flows. Also provide an analysis of any known
trends and
 uncertainties that will result in or that are reasonably likely to
result in a material
 increase or decrease in your liquidity. Ensure your discussion and
analysis is not
 merely a recitation of changes evident from the financial statements.
Refer to Item
 303(a) of Regulation S-K and Section IV.B of SEC Release No. 33-8350.
Notes to Consolidated Financial Statements
(7) Goodwill and Intangible Assets , page 65

3. You disclosed in your fiscal 2022 Form 10-K that you performed a
qualitative
 goodwill impairment assessment during the fourth quarter with respect to
each of your
 reporting units and concluded it was not necessary to perform a
quantitative goodwill
 impairment test for any reporting unit. During fiscal 2023, we note that
you impaired
 approximately $1.2 billion of goodwill and $65 million of intangible
assets related to
 your Film and TV reporting unit. We further note that you recorded a
$539 million
 loss on sale of the eOne Film and TV business during fiscal 2023. Please
ensure future
 filings include robust disclosures regarding the possibility and
potential of material
 future impairments. In doing so, disclose whether any of your reporting
units is at risk
 of impairment. Please note that a reporting unit is at risk of
impairment if it has a fair
 value that is not substantially in excess of carrying value. If no
reporting units are at
 risk based on your most recent impairment test, or if material goodwill
is allocated to
 a reporting unit that is at risk but you believe a material impairment
charge is unlikely,
 please disclose this to your readers. For any reporting units with
estimated fair values
 that do not substantially exceed their carrying values, please provide
the following
 disclosures in order for investors to better assess the sensitivity of
your goodwill to
 future impairment:
 July 23, 2025
Page 3

 The percentage by which fair value exceeded carrying value as of
the date of the
 most recent test;
 The amount of goodwill allocated to the reporting unit;
 A description of the methods and key assumptions used and how the
key
 assumptions were determined;
 A discussion of the degree of uncertainty associated with the key
 assumptions. The discussion regarding uncertainty should provide
specifics to the
 extent possible (e.g., the valuation model assumes recovery from a
business
 downturn within a defined period of time); and
 A description of potential events and/or changes in circumstances
that could
 reasonably be expected to negatively affect the key assumptions.
(12) Income Taxes, page 72

4. We note your disclosure on page 74 regarding the impact of the Swiss
Federal Act on
 Tax Reform and AHV Financing ("TRAF"), noting that you recorded a
deferred tax
 asset of $135.6 million during fiscal year 2023 related to tax
intangibles that will be
 amortized over time. Please address the following comments:

 Considering the TRAF was approved during 2019 and effective as of
January 1,
 2020, please tell us why the deferred tax assets were not recorded
until fiscal year
 2023. Clarify how you determined the enactment date and explain how
your
 treatment complies with ASC 740-10-25-47 and ASC 740-10-45-15.
 Summarize for us the specific provisions of the TRAF that impacted
you and the
 nature of your "grandfathering" discussions with Swiss tax
authorities.

 Clarify the meaning of your disclosure that "[t]his treatment
began to apply
 starting in 2021." We note you previously disclosed in your fiscal
year 2021 and
 2022 Forms 10-K that the "enacted changes in Swiss federal and
cantonal tax,
 including cantonal transitional provisions adopted in 2021, were not
material to
 the Company s financial statements."

 In closing, we remind you that the company and its management are
responsible for
the accuracy and adequacy of their disclosures, notwithstanding any review,
comments,
action or absence of action by the staff.

 Please contact Stephany Yang at 202-551-3167 or Andrew Blume at
202-551-3254
with any questions.

 Sincerely,

 Division of
Corporation Finance
 Office of
Manufacturing
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