XML 28 R13.htm IDEA: XBRL DOCUMENT v3.3.1.900
Stockholders' Equity
 12 Months Ended
Dec. 31, 2015
Equity [Abstract]  
Stockholders' Equity
Note 6—Stockholders’ Equity
Preference Stock
Mattel is authorized to issue up to 20.0 million shares of $0.01 par value preference stock, of which none is currently outstanding.
Preferred Stock
Mattel is authorized to issue up to 3.0 million shares of $1.00 par value preferred stock, of which none is currently outstanding.
Common Stock Repurchase Program
During 2015, Mattel did not repurchase any shares of its common stock. During 2014, Mattel repurchased 4.9 million shares of its common stock at a cost of $177.2 million. During 2013, Mattel repurchased 11.0 million shares of its common stock at a cost of $469.2 million. Mattel’s share repurchase program was first announced on July 21, 2003. On July 17, 2013, the Board of Directors authorized Mattel to increase its share repurchase program by $500.0 million. At December 31, 2015, share repurchase authorizations of $203.0 million had not been executed. Repurchases will take place from time to time, depending on market conditions. Mattel’s share repurchase program has no expiration date.
Dividends
During 2015, 2014, and 2013, Mattel paid total dividends per share of $1.52, $1.52, and $1.44, respectively, to holders of its common stock. The Board of Directors declared the dividends on a quarterly basis, and Mattel paid the dividends during the quarters in which the dividends were declared. The payment of dividends on common stock is at the discretion of the Board of Directors and is subject to customary limitations.
Accumulated Other Comprehensive Income (Loss)
The following tables present changes in the accumulated balances for each component of other comprehensive income, including current period other comprehensive income and reclassifications out of accumulated other comprehensive income (loss):
 
 
For the Year Ended December 31, 2015
 
Derivative
Instruments
 
Defined Benefit
Pension Plans
 
Currency
Translation
Adjustments
 
Total
 
(In thousands)
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of December 31, 2014
$
30,025

 
$
(161,507
)
 
$
(490,607
)
 
$
(622,089
)
Other comprehensive income (loss) before reclassifications
37,926

 
(6,443
)
 
(213,797
)
 
(182,314
)
Amounts reclassified from accumulated other comprehensive income (loss)
(52,588
)
 
8,092

 
—

 
(44,496
)
Net (decrease) increase in other comprehensive income
(14,662
)
 
1,649

 
(213,797
)
 
(226,810
)
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of December 31, 2015
$
15,363

 
$
(159,858
)
 
$
(704,404
)
 
$
(848,899
)
 
For the Year Ended December 31, 2014
 
Derivative
Instruments
 
Defined Benefit
Pension Plans
 
Currency
Translation
Adjustments
 
Total
 
(In thousands)
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of December 31, 2013
$
(10,789
)
 
$
(131,946
)
 
$
(300,941
)
 
$
(443,676
)
Other comprehensive income (loss) before reclassifications
39,931

 
(38,969
)
 
(189,666
)
 
(188,704
)
Amounts reclassified from accumulated other comprehensive income (loss)
883

 
9,408

 
—

 
10,291

Net increase (decrease) in other comprehensive income
40,814

 
(29,561
)
 
(189,666
)
 
(178,413
)
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of December 31, 2014
$
30,025

 
$
(161,507
)
 
$
(490,607
)
 
$
(622,089
)
 
For the Year Ended December 31, 2013
 
Derivative
Instruments
 
Defined Benefit
Pension Plans
 
Currency
Translation
Adjustments
 
Total
 
(In thousands)
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of December 31, 2012
$
(2,583
)
 
$
(190,656
)
 
$
(271,247
)
 
$
(464,486
)
Other comprehensive (loss) income before reclassifications
(13,103
)
 
44,288

 
(29,694
)
 
1,491

Amounts reclassified from accumulated other comprehensive income (loss)
4,897

 
14,422

 
—

 
19,319

Net (decrease) increase in other comprehensive income
(8,206
)
 
58,710

 
(29,694
)
 
20,810

Accumulated Other Comprehensive Income (Loss), Net of Tax, as of December 31, 2013
$
(10,789
)
 
$
(131,946
)
 
$
(300,941
)
 
$
(443,676
)


The following table presents the classification and amount of the reclassifications from accumulated other comprehensive income (loss) to the consolidated statement of operations:
 
 
For the Year
 
Statements of Operations
Classification
 
2015
 
2014
 
2013
 
 
(In thousands)
 
 
Derivative Instruments
 
 
 
 
 
 
 
Gain (loss) on foreign currency forward exchange contracts
$
52,037

 
$
(916
)
 
$
(5,735
)
 
Cost of sales
 
551

 
33

 
838

 
Provision for income taxes
 
$
52,588

 
$
(883
)
 
$
(4,897
)
 
Net income
Defined Benefit Pension Plans
 
 
 
 
 
 
 
Amortization of prior service credit
$
465

 
$
1,037

 
$
1,057

 
(a)
Recognized actuarial loss
(15,316
)
 
(15,788
)
 
(21,771
)
 
(a)
Settlement loss
(6,453
)
 
—

 
(1,835
)
 
Other selling and administrative expenses
Curtailment gain
8,639

 
—

 
—

 
Other selling and administrative expenses
 
(12,665
)
 
(14,751
)
 
(22,549
)
 
 
 
4,573

 
5,343

 
8,127

 
Provision for income taxes
 
$
(8,092
)
 
$
(9,408
)
 
$
(14,422
)
 
Net income
 
(a)
The amortization of prior service credit and recognized actuarial loss are included in the computation of net periodic benefit cost. Refer to “Note 4 to the Consolidated Financial Statements—Employee Benefit Plans” for additional information regarding Mattel’s net periodic benefit cost.
Currency Translation Adjustments
For 2015, currency translation adjustments resulted in a net loss of $213.8 million, primarily due to the weakening of the Euro, Brazilian real, Mexican peso, and British pound sterling against the US dollar. For 2014, currency translation adjustments resulted in a net loss of $189.7 million, primarily due to the weakening of the Euro, Mexican peso, British pound sterling, Russian ruble, and Brazilian real against the US dollar. For 2013, currency translation adjustments resulted in a net loss of $29.7 million, primarily due to the weakening of the Brazilian real, Australian dollar, and Indonesian rupiah against the US dollar, partially offset by the strengthening of the Euro against the US dollar.