Hasbro, Inc., designs, manufactures, and markets toy products worldwide. Hasbro’s toys include Barbie® fashion dolls and accessories, Hot Wheels®, and Fisher-Price brands. For a recent year, Hasbro reported the following net cash flows from operating activities (in thousands):

First quarter ending April 1 ......................... $317,789
Second quarter ending July 1 ........................ (76,938)
Third quarter ending September 30 ............ (66,055)
Fourth quarter ending December 31 ........... 471,251

Explain why Hasbro reported negative net cash flows from operating activities during the first and second quarters and a large positive cash flow for the fourth quarter, with overall net positive cash flow for the year.