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Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

The following tables present changes in the accumulated balances for each component of other comprehensive income (loss), including other comprehensive income (loss) and reclassifications out of accumulated other comprehensive income (loss) for each period:

			For the Three Months Ended June 30, 2020
			Derivative Instruments						Available-for-Sale Security						Employee  Benefit Plans						Currency Translation Adjustments						Total
			(In thousands)
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of March 31, 2020			$	17,021					$	(8,065)					$	(166,797)					$	(848,042)					$	(1,005,883)
Other comprehensive income (loss) before reclassifications			4,704						(80)						(1,203)						26,843						30,264
Amounts reclassified from accumulated other comprehensive income (loss)			(3,699)						—						1,721						—						(1,978)
Net increase (decrease) in other comprehensive income (loss)			1,005						(80)						518						26,843						28,286
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of June 30, 2020			$	18,026					$	(8,145)					$	(166,279)					$	(821,199)					$	(977,597)

			For the Six Months Ended June 30, 2020
			Derivative Instruments						Available-for-Sale Security						Employee  Benefit Plans						Currency Translation Adjustments						Total
			(In thousands)
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of December 31, 2019			$	11,041					$	(8,260)					$	(169,857)					$	(702,408)					$	(869,484)
Other comprehensive income (loss) before reclassifications			13,894						115						499						(118,791)						(104,283)
Amounts reclassified from accumulated other comprehensive income (loss)			(6,909)						—						3,079						—						(3,830)
Net increase (decrease) in other comprehensive income (loss)			6,985						115						3,578						(118,791)						(108,113)
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of June 30, 2020			$	18,026					$	(8,145)					$	(166,279)					$	(821,199)					$	(977,597)

			For the Three Months Ended June 30, 2019
			Derivative Instruments						Available-for-Sale Security						Employee  Benefit Plans						Currency Translation Adjustments						Total
			(In thousands)
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of March 31, 2019			$	16,470					$	(4,670)					$	(142,540)					$	(707,194)					$	(837,934)
Other comprehensive income (loss) before reclassifications			3,254						(1,944)						(618)						(1,170)						(478)
Amounts reclassified from accumulated other comprehensive income (loss)			(2,492)						—						1,242						—						(1,250)
Net increase (decrease) in other comprehensive income (loss)			762						(1,944)						624						(1,170)						(1,728)
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of June 30, 2019			$	17,232					$	(6,614)					$	(141,916)					$	(708,364)					$	(839,662)

			For the Six Months Ended June 30, 2019
			Derivative Instruments						Available-for-Sale Security						Employee  Benefit Plans						Currency Translation Adjustments						Total
			(In thousands)
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of December 31, 2018			$	11,411					$	(6,547)					$	(142,763)					$	(721,327)					$	(859,226)
Other comprehensive income (loss) before reclassifications			9,072						(67)						(1,824)						12,963						20,144
Amounts reclassified from accumulated other comprehensive income (loss)			(3,251)						—						2,671						—						(580)
Net increase (decrease) in other comprehensive income (loss)			5,821						(67)						847						12,963						19,564
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of June 30, 2019			$	17,232					$	(6,614)					$	(141,916)					$	(708,364)					$	(839,662)

The following table presents the classification and amount of the reclassifications from accumulated other comprehensive income (loss) to the consolidated statements of operations:

			For the Three Months Ended
			June 30, 2020						June 30, 2019						Statements of Operations Classification
			(In thousands)
Derivative Instruments
Gain on foreign currency forward exchange contracts and other			$	3,622					$	2,675					Cost of sales
Tax effect			77						(183)						Provision for income taxes
			$	3,699					$	2,492					Net loss
Employee Benefit Plans
Amortization of prior service credit (a)			$	466					$	493					Other non-operating expense (income), net
Recognized actuarial loss (a)			(2,337)						(1,735)						Other non-operating expense (income), net
			(1,871)						(1,242)
Tax effect			150						—						Provision for income taxes
			$	(1,721)					$	(1,242)					Net loss

			For the Six Months Ended
			June 30, 2020						June 30, 2019						Statements of Operations Classification
			(In thousands)
Derivative Instruments
Gain on foreign currency forward exchange contracts and other			$	6,814					$	3,602					Cost of sales
Tax effect			95						(351)						Provision for income taxes
			$	6,909					$	3,251					Net loss
Employee Benefit Plans
Amortization of prior service credit (a)			$	932					$	986					Other non-operating expense (income), net
Recognized actuarial loss (a)			(4,677)						(3,472)						Other non-operating expense (income), net
			(3,745)						(2,486)
Tax effect			666						(185)						Provision for income taxes
			$	(3,079)					$	(2,671)					Net loss

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(a)The amortization of prior service credit and recognized actuarial loss are included in the computation of net periodic benefit cost. Refer to "Note 15 to the Consolidated Financial Statements—Employee Benefit Plans" of this Quarterly Report on Form 10-Q for additional information regarding Mattel's net periodic benefit cost.

Currency Translation Adjustments

Mattel's reporting currency is the U.S. dollar. The translation of its net investments in subsidiaries with non-U.S. dollar functional currencies subjects Mattel to the impact of foreign currency exchange rate fluctuations in its results of operations and financial position. Assets and liabilities of subsidiaries with non-U.S. dollar functional currencies are translated into U.S. dollars at fiscal period-end exchange rates. Income and expense items are translated at weighted-average exchange rates prevailing during the fiscal period. The resulting currency translation adjustments are recorded as a component of accumulated other comprehensive income (loss) within stockholders' equity. Currency translation adjustments resulted in a net loss of $118.8 million for the six months ended June 30, 2020, primarily due to the weakening of the Mexican peso, Brazilian real, British pound sterling, and the Russian ruble against the U.S. dollar. Currency translation adjustments resulted in a net gain of $13.0 million for the six months ended June 30, 2019, primarily due to the strengthening of the Russian ruble, Hong Kong dollar, and Mexican peso against the U.S. dollar, partially offset by the weakening of the Euro against the U.S. dollar.

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- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

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-Publisher FASB
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