Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2016

Mattel’s financial assets and liabilities measured and reported at fair value on a recurring basis include the following:



	June 30, 2016
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets:
Foreign currency forward exchange contracts (a)	$	—	$	10,496	$	—	$	10,496
Liabilities:
Foreign currency forward exchange contracts (a)	$	—	$	17,025	$	—	$	17,025
Cross currency swap contract (a)	—		1,258		—		1,258
Total liabilities	$	—	$	18,283	$	—	$	18,283



	June 30, 2015
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets:
Foreign currency forward exchange contracts (a)	$	—	$	32,478	$	—	$	32,478
Auction rate security (b)	—		—		32,389		32,389
Total assets	$	—	$	32,478	$	32,389	$	64,867
Liabilities:
Foreign currency forward exchange contracts (a)	$	—	$	12,888	$	—	$	12,888
Cross currency swap contract (a)	—		797		—		797
Total liabilities	$	—	$	13,685	$	—	$	13,685

	December 31, 2015
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets:
Foreign currency forward exchange contracts (a)	$	—	$	18,106	$	—	$	18,106
Liabilities:
Foreign currency forward exchange contracts (a)	$	—	$	3,720	$	—	$	3,720

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(a)	The fair values of the foreign currency forward exchange contracts and cross currency swap contracts are based on dealer quotes of market forward rates and reflect the amount that Mattel would receive or pay at their maturity dates for contracts involving the same notional amounts, currencies, and maturity dates.


(b)	The fair value of the auction rate security was estimated using a discounted cash flow model based on (i) estimated interest rates, timing, and amount of cash flows, (ii) credit spreads, recovery rates, and credit quality of the underlying securities, (iii) illiquidity considerations, and (iv) market correlati