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Revision of Quarterly Information (Tables) | 9 Months Ended
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Sep. 30, 2019
Quarterly Financial Information Disclosure [Abstract] |
Schedule of Revision of Quarterly Information | The revisions to Mattel's unaudited consolidated balance sheet, statements of operations and comprehensive loss, and cash flows as of and for the period ended June 30, 2019 were as follows:
| June 30, 2019
| As Previously Reported |  | Adjustments |  | As Revised
| (In thousands)
Consolidated Balance Sheet |  |  |  |  |
Accrued liabilities | $ | 590,532 |  |  | $ | 5,240 |  |  | $ | 595,772 |
Total current liabilities | $ | 1,074,580 |  |  | $ | 5,240 |  |  | $ | 1,079,820 |
Retained earnings | $ | 1,337,552 |  |  | $ | (5,240 | ) |  | $ | 1,332,312 |
Total stockholders' equity | $ | 421,337 |  |  | $ | (5,240 | ) |  | $ | 416,097 |
| Six Months Ended June 30, 2019
| As Previously Reported |  | Adjustments |  | As Revised
| (In thousands, except per share amounts)
Consolidated Statement of Operations and Comprehensive Loss |  |  |  |  |
Net sales | $ | 1,549,309 |  |  | $ | — |  |  | $ | 1,549,309 |
Cost of sales | $ | 968,135 |  |  | $ | — |  |  | $ | 968,135 |
Gross profit | $ | 581,174 |  |  | $ | — |  |  | $ | 581,174 |
Advertising and promotion expenses | $ | 153,954 |  |  | $ | — |  |  | $ | 153,954 |
Other selling and administrative expenses | $ | 609,595 |  |  | $ | (3,948 | ) |  | $ | 605,647 |
Operating loss | $ | (182,375 | ) |  | $ | 3,948 |  |  | $ | (178,427 | )
Loss before income taxes | $ | (273,373 | ) |  | $ | 3,948 |  |  | $ | (269,425 | )
Provision for income taxes | $ | 18,332 |  |  | $ | (3,474 | ) |  | $ | 14,858 |
Net loss | $ | (291,705 | ) |  | $ | 7,422 |  |  | $ | (284,283 | )
Comprehensive loss | $ | (272,141 | ) |  | $ | 7,422 |  |  | $ | (264,719 | )
Net loss per common share - basic | $ | (0.84 | ) |  | $ | 0.02 |  |  | $ | (0.82 | )
Net loss per common share - diluted | $ | (0.84 | ) |  | $ | 0.02 |  |  | $ | (0.82 | )
| Six Months Ended June 30, 2019
| As Previously Reported |  | Adjustments |  | As Revised
| (In thousands)
Consolidated Statement of Cash Flows |  |  |  |  |
Net loss | $ | (291,705 | ) |  | $ | 7,422 |  |  | $ | (284,283 | )
Increase (decrease) from changes in assets and liabilities: |  |  |  |  |
Accounts receivable | $ | 222,823 |  |  | $ | (5,069 | ) |  | $ | 217,754 |
Prepaid expenses and other current assets | $ | 146 |  |  | $ | (8,300 | ) |  | $ | (8,154 | )
Accounts payable, accrued liabilities, and income taxes payable | $ | (307,889 | ) |  | $ | 5,947 |  |  | $ | (301,942 | )
Net cash flows used for operating activities | $ | (400,519 | ) |  | $ | — |  |  | $ | (400,519 | )
The revisions to Mattel's unaudited consolidated balance sheet, statements of operations and comprehensive loss, and cash flows as of and for the period ended March 31, 2019 were as follows:
| March 31, 2019
| As Previously Reported |  | Adjustments |  | As Revised
| (In thousands)
Consolidated Balance Sheet |  |  |  |  |
Accrued liabilities | $ | 661,911 |  |  | $ | 5,240 |  |  | $ | 667,151 |
Total current liabilities | $ | 1,006,269 |  |  | $ | 5,240 |  |  | $ | 1,011,509 |
Retained earnings | $ | 1,445,539 |  |  | $ | (5,240 | ) |  | $ | 1,440,299 |
Total stockholders' equity | $ | 518,517 |  |  | $ | (5,240 | ) |  | $ | 513,277 |
| Three Months Ended March 31, 2019
| As Previously Reported |  | Adjustments |  | As Revised
| (In thousands, except per share amounts)
Consolidated Statement of Operations and Comprehensive Loss |  |  |  |  |
Net sales | $ | 689,246 |  |  | $ | — |  |  | $ | 689,246 |
Cost of sales | $ | 449,456 |  |  | $ | — |  |  | $ | 449,456 |
Gross profit | $ | 239,790 |  |  | $ | — |  |  | $ | 239,790 |
Advertising and promotion expenses | $ | 69,465 |  |  | $ | — |  |  | $ | 69,465 |
Other selling and administrative expenses | $ | 301,284 |  |  | $ | (3,948 | ) |  | $ | 297,336 |
Operating loss | $ | (130,959 | ) |  | $ | 3,948 |  |  | $ | (127,011 | )
Loss before income taxes | $ | (177,549 | ) |  | $ | 3,948 |  |  | $ | (173,601 | )
Provision for income taxes | $ | 6,169 |  |  | $ | (3,474 | ) |  | $ | 2,695 |
Net loss | $ | (183,718 | ) |  | $ | 7,422 |  |  | $ | (176,296 | )
Comprehensive loss | $ | (162,426 | ) |  | $ | 7,422 |  |  | $ | (155,004 | )
Net loss per common share - basic | $ | (0.53 | ) |  | $ | 0.02 |  |  | $ | (0.51 | )
Net loss per common share - diluted | $ | (0.53 | ) |  | $ | 0.02 |  |  | $ | (0.51 | )
| Three Months Ended March 31, 2019
| As Previously Reported |  | Adjustments |  | As Revised
| (In thousands)
Consolidated Statement of Cash Flows |  |  |  |  |
Net loss | $ | (183,718 | ) |  | $ | 7,422 |  |  | $ | (176,296 | )
Increase (decrease) from changes in assets and liabilities: |  |  |  |  |
Accounts receivable | $ | 351,450 |  |  | $ | (5,069 | ) |  | $ | 346,381 |
Prepaid expenses and other current assets | $ | (28,417 | ) |  | $ | (8,300 | ) |  | $ | (36,717 | )
Accounts payable, accrued liabilities, and income taxes payable | $ | (327,821 | ) |  | $ | 5,947 |  |  | $ | (321,874 | )
Net cash flows used for operating activities | $ | (192,810 | ) |  | $ | — |  |  | $ | (192,810 | )
The revisions to Mattel's unaudited consolidated balance sheet, statements of operations and comprehensive loss, and cash flows as of and for the period ended September 30, 2018 were as follows:
| September 30, 2018
| As Previously Reported |  | Adjustments |  | As Revised
| (In thousands)
Consolidated Balance Sheet |  |  |  |  |
Accrued liabilities | $ | 683,470 |  |  | $ | 7,388 |  |  | $ | 690,858 |
Total current liabilities | $ | 1,494,003 |  |  | $ | 7,388 |  |  | $ | 1,501,391 |
Retained earnings | $ | 1,614,343 |  |  | $ | (7,388 | ) |  | $ | 1,606,955 |
Total stockholders' equity | $ | 666,410 |  |  | $ | (7,388 | ) |  | $ | 659,022 |
| Nine Months Ended September 30, 2018
| As Previously Reported |  | Adjustments |  | As Revised
| (In thousands, except per share amounts)
Consolidated Statement of Operations and Comprehensive Loss |  |  |  |  |
Net sales | $ | 2,986,571 |  |  | $ | 3,958 |  |  | $ | 2,990,529 |
Cost of sales | $ | 1,901,440 |  |  | $ | — |  |  | $ | 1,901,440 |
Gross profit | $ | 1,085,131 |  |  | $ | 3,958 |  |  | $ | 1,089,089 |
Advertising and promotion expenses | $ | 318,538 |  |  | $ | — |  |  | $ | 318,538 |
Other selling and administrative expenses | $ | 1,110,491 |  |  | $ | — |  |  | $ | 1,110,491 |
Operating loss | $ | (343,898 | ) |  | $ | 3,958 |  |  | $ | (339,940 | )
Loss before income taxes | $ | (475,335 | ) |  | $ | 3,958 |  |  | $ | (471,377 | )
Provision for income taxes | $ | 70,571 |  |  | $ | 990 |  |  | $ | 71,561 |
Net loss | $ | (545,906 | ) |  | $ | 2,968 |  |  | $ | (542,938 | )
Comprehensive loss | $ | (599,142 | ) |  | $ | 2,968 |  |  | $ | (596,174 | )
Net loss per common share - basic | $ | (1.58 | ) |  | $ | 0.01 |  |  | $ | (1.57 | )
Net loss per common share - diluted | $ | (1.58 | ) |  | $ | 0.01 |  |  | $ | (1.57 | )
| Nine Months Ended September 30, 2018
| As Previously Reported |  | Adjustments |  | As Revised
| (In thousands)
Consolidated Statement of Cash Flows |  |  |  |  |
Net loss | $ | (545,906 | ) |  | $ | 2,968 |  |  | $ | (542,938 | )
Adjustments to reconcile net loss to net cash flows used for operating activities: |  |  |  |  |
Deferred income taxes | $ | 1,435 |  |  | $ | 990 |  |  | $ | 2,425 |
(Decrease) increase from changes in assets and liabilities, net of acquired assets and liabilities: |  |  |  |  |
Accounts receivable | $ | (255,781 | ) |  | $ | (3,958 | ) |  | $ | (259,739 | )
Prepaid expenses and other current assets | $ | 9,250 |  |  | $ | (7,388 | ) |  | $ | 1,862 |
Accounts payable, accrued liabilities, and income taxes payable | $ | (107,601 | ) |  | $ | 7,388 |  |  | $ | (100,213 | )
Net cash flows used for operating activities | $ | (731,452 | ) |  | $ | — |  |  | $ | (731,452 | )
The revisions to Mattel's unaudited consolidated balance sheet, statements of operations and comprehensive loss, and cash flows as of and for the periods ended June 30, 2018 were as follows:
| June 30, 2018
| As Previously Reported |  | Adjustments |  | As Revised
| (In thousands)
Consolidated Balance Sheet |  |  |  |  |
Accrued liabilities | $ | 585,585 |  |  | $ | 7,388 |  |  | $ | 592,973 |
Total current liabilities | $ | 1,097,445 |  |  | $ | 7,388 |  |  | $ | 1,104,833 |
Retained earnings | $ | 1,608,026 |  |  | $ | (7,388 | ) |  | $ | 1,600,638 |
Total stockholders' equity | $ | 663,971 |  |  | $ | (7,388 | ) |  | $ | 656,583 |
| Three Months Ended June 30, 2018
| As Previously Reported |  | Adjustments |  | As Revised
| (In thousands, except per share amounts)
Consolidated Statement of Operations and Comprehensive Loss |  |  |  |  |
Net sales | $ | 840,748 |  |  | $ | 3,958 |  |  | $ | 844,706 |
Cost of sales | $ | 587,546 |  |  | $ | — |  |  | $ | 587,546 |
Gross profit | $ | 253,202 |  |  | $ | 3,958 |  |  | $ | 257,160 |
Advertising and promotion expenses | $ | 82,393 |  |  | $ | — |  |  | $ | 82,393 |
Other selling and administrative expenses | $ | 360,000 |  |  | $ | — |  |  | $ | 360,000 |
Operating loss | $ | (189,191 | ) |  | $ | 3,958 |  |  | $ | (185,233 | )
Loss before income taxes | $ | (234,022 | ) |  | $ | 3,958 |  |  | $ | (230,064 | )
Provision for income taxes | $ | 6,909 |  |  | $ | 990 |  |  | $ | 7,899 |
Net loss | $ | (240,931 | ) |  | $ | 2,968 |  |  | $ | (237,963 | )
Comprehensive loss | $ | (325,860 | ) |  | $ | 2,968 |  |  | $ | (322,892 | )
Net loss per common share - basic | $ | (0.70 | ) |  | $ | 0.01 |  |  | $ | (0.69 | )
Net loss per common share - diluted | $ | (0.70 | ) |  | $ | 0.01 |  |  | $ | (0.69 | )
| Six Months Ended June 30, 2018
| As Previously Reported |  | Adjustments |  | As Revised
| (In thousands, except per share amounts)
Consolidated Statement of Operations and Comprehensive Loss |  |  |  |  |
Net sales | $ | 1,549,120 |  |  | $ | 3,958 |  |  | $ | 1,553,078 |
Cost of sales | $ | 1,077,045 |  |  | $ | — |  |  | $ | 1,077,045 |
Gross profit | $ | 472,075 |  |  | $ | 3,958 |  |  | $ | 476,033 |
Advertising and promotion expenses | $ | 153,230 |  |  | $ | — |  |  | $ | 153,230 |
Other selling and administrative expenses | $ | 784,617 |  |  | $ | — |  |  | $ | 784,617 |
Operating loss | $ | (465,772 | ) |  | $ | 3,958 |  |  | $ | (461,814 | )
Loss before income taxes | $ | (547,927 | ) |  | $ | 3,958 |  |  | $ | (543,969 | )
Provision for income taxes | $ | 4,257 |  |  | $ | 990 |  |  | $ | 5,247 |
Net loss | $ | (552,184 | ) |  | $ | 2,968 |  |  | $ | (549,216 | )
Comprehensive loss | $ | (594,476 | ) |  | $ | 2,968 |  |  | $ | (591,508 | )
Net loss per common share - basic | $ | (1.60 | ) |  | $ | 0.01 |  |  | $ | (1.59 | )
Net loss per common share - diluted | $ | (1.60 | ) |  | $ | 0.01 |  |  | $ | (1.59 | )
| Six Months Ended June 30, 2018
| As Previously Reported |  | Adjustments |  | As Revised
| (In thousands)
Consolidated Statement of Cash Flows |  |  |  |  |
Net loss | $ | (552,184 | ) |  | $ | 2,968 |  |  | $ | (549,216 | )
Adjustments to reconcile net loss to net cash flows used for operating activities: |  |  |  |  |
Deferred income taxes | $ | (827 | ) |  | $ | 990 |  |  | $ | 163 |
Increase (decrease) from changes in assets and liabilities, net of acquired assets and liabilities: |  |  |  |  |
Accounts receivable | $ | 274,306 |  |  | $ | (3,958 | ) |  | $ | 270,348 |
Prepaid expenses and other current assets | $ | (27,784 | ) |  | $ | (7,388 | ) |  | $ | (35,172 | )
Accounts payable, accrued liabilities, and income taxes payable | $ | (328,998 | ) |  | $ | 7,388 |  |  | $ | (321,610 | )
Net cash flows used for operating activities | $ | (556,609 | ) |  | $ | — |  |  | $ | (556,609 | )
The revisions to Mattel's unaudited consolidated balance sheet and statement of cash flows as of and for the period ended March 31, 2018 were as follows:
| March 31, 2018
| As Previously Reported |  | Adjustments |  | As Revised
| (In thousands)
Consolidated Balance Sheet |  |  |  |  |
Accounts receivable, net | $ | 676,119 |  |  | $ | (3,958 | ) |  | $ | 672,161 |
Total current assets | $ | 2,221,670 |  |  | $ | (3,958 | ) |  | $ | 2,217,712 |
Other noncurrent assets | $ | 928,519 |  |  | $ | 990 |  |  | $ | 929,509 |
Total assets | $ | 5,304,090 |  |  | $ | (2,968 | ) |  | $ | 5,301,122 |
Accrued liabilities | $ | 578,909 |  |  | $ | 7,388 |  |  | $ | 586,297 |
Total current liabilities | $ | 987,179 |  |  | $ | 7,388 |  |  | $ | 994,567 |
Retained earnings | $ | 1,848,957 |  |  | $ | (10,356 | ) |  | $ | 1,838,601 |
Total stockholders' equity | $ | 982,466 |  |  | $ | (10,356 | ) |  | $ | 972,110 |
| Three Months Ended March 31, 2018
| As Previously Reported |  | Adjustments |  | As Revised
| (In thousands)
Consolidated Statement of Cash Flows |  |  |  |  |
Net loss | $ | (311,253 | ) |  | $ | — |  |  | $ | (311,253 | )
Decrease from changes in assets and liabilities, net of acquired assets and liabilities: |  |  |  |  |
Prepaid expenses and other current assets | $ | (40,052 | ) |  | $ | (7,388 | ) |  | $ | (47,440 | )
Accounts payable, accrued liabilities, and income taxes payable | $ | (367,298 | ) |  | $ | 7,388 |  |  | $ | (359,910 | )
Net cash flows used for operating activities | $ | (273,732 | ) |  | $ | — |  |  | $ | (273,732 | )

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118952077&loc=d3e1280-108306 + Details
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