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Restructuring Charges

6 Months Ended

Jun. 30, 2018

Restructuring and Related Activities [Abstract]

Restructuring Charges

Restructuring Charges

During the third quarter of 2017, Mattel initiated its Structural Simplification Cost Savings program, with plans to target at least $650 million in net cost savings by 2020.

The major initiatives of the Structural Simplification Cost Savings program include:

• Reducing manufacturing complexity, including SKU reduction, and implementing process improvement initiatives at owned and co-manufacturing facilities;

• Streamlining the organizational structure and reducing headcount expense to better align with the revenue base; and

• Optimizing advertising spend.

In connection with the Structural Simplification Cost Savings program, Mattel recorded severance and other restructuring charges of $47.8 million and $72.7 million during the three and six months ended June 30, 2018, respectively, within other selling and administrative expenses in the consolidated statements of operations, which is included in corporate and other expense in "Note 23 to the Consolidated Financial Statements—Segment Information." To date, Mattel has recorded cumulative severance and other restructuring charges of $117.8 million and expects to incur total charges of approximately $200 million related to the Structural Simplification Cost Savings program.

The following table summarizes Mattel's severance and other restructuring costs activity for the six months ended June 30, 2018:

	Liability at December 31, 2017				Charges				Payments/Utilization				Liability at June 30, 2018
	(In thousands)
Severance	$	29,794			$	46,470			$	(30,307	)		$	45,957
Other restructuring costs	5,394				26,241				(12,223		)		19,412
	$	35,188			$	72,711			$	(42,530	)		$	65,369

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- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI http://asc.fasb.org/topic&trid=2175745

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