(NASDAQ: HAS) today reported financial results for the full-year and fourth quarter 2013. Net revenues for the full-year 2013 were $4.08 billion and flat with full-year 2012 revenues of $4.09 billion. Full-year 2013 net revenues include a favorable $3.7 million impact of foreign exchange.
Net earnings for the full-year 2013 were $286.2 million, or $2.17 per diluted share, versus $336.0 million, or $2.55 per diluted share, in 2012. 2013 net earnings include pre-tax charges of $36.7 million associated with restructuring, $7.0 million of related pension costs, $61.1 million associated with the settlement of a previously disclosed adverse arbitration award, $40.6 million of charges related to certain non-strategic brands as well as a $23.6 million favorable tax adjustment. Excluding these items, 2013 net earnings were $372.4 million, or $2.83 per diluted share.
Net earnings for the full-year 2012 were $336.0 million, or $2.55 per diluted share. Excluding pre-tax restructuring charges of $47.2 million, or $0.26 per diluted share, 2012 net earnings were $370.8 million, or $2.81 per diluted share.
For the fourth quarter 2013, the Company reported net revenues of $1.28 billion which were flat with $1.28 billion in 2012. Foreign exchange had a $2.3 million positive impact on revenues for the fourth quarter 2013.
The Company reported net earnings for the fourth quarter 2013 of $129.8 million, or $0.98 per diluted share, including pre-tax charges of $48.8 million associated with restructuring and related pension costs and product-related charges, and a benefit of $15.4 million related to the settlement of an adverse arbitration award for less than the previously recorded charge. 2012 fourth quarter reported net earnings were $130.3 million, or $0.99 per diluted share, including $36.0 million pre-tax, or $0.21 per share, in restructuring charges. Excluding charges in both periods and the benefit in 2013, 2013 fourth quarter net earnings were $148.8 million, or $1.12 per diluted share, compared to $157.4 million, or $1.20 per diluted share, in 2012.