XML 33 R21.htm IDEA: XBRL DOCUMENT v3.22.0.1
Segment Information
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Segment Information Segment Information
Mattel designs, manufactures, and markets a broad variety of toy products worldwide, which are sold to its customers and directly to consumers.
Segment Data
Mattel's operating segments are: (i) North America, which consists of the United States and Canada; (ii) International; and (iii) American Girl. The North America and International segments sell products across categories, although some products are developed and adapted for particular international markets.
The following tables present information regarding net sales, operating income (loss), and assets by segment. The corporate and other expense category includes operating costs not allocated to individual segments, including charges related to incentive and share-based compensation, corporate headquarters functions managed on a worldwide basis, the impact of changes in foreign currency exchange rates on intercompany transactions, and certain severance and other restructuring costs. It is impracticable for Mattel to present net sales by categories, brands, or products, as trade discounts and other allowances are generally recorded in the financial accounting systems by customer.
 For the Year Ended
 December 31,
2021		December 31,
2020		December 31,
2019
 (In thousands)
Net Sales by Segment
North America$2,968,278 $2,426,480 $2,275,783 
International2,219,189 1,903,550 1,972,196 
American Girl270,274 258,403 256,592 
Net sales$5,457,741 $4,588,433 $4,504,571 
Operating Income (Loss) by Segment (a)
North America $872,536 $621,859 $381,112 
International349,952 272,395 185,803 
American Girl5,409 (14,090)(59,254)
1,227,897 880,164 507,661 
Corporate and other expense (b)(498,335)(505,428)(470,559)
Operating Income729,562 374,736 37,102 
Interest expense253,937 198,332 201,044 
Interest (income)(3,503)(3,945)(6,166)
Other non-operating expense, net8,364 2,692 1,879 
Income (Loss) Before Income Taxes$470,764 $177,657 $(159,655)
(a)Segment operating income (loss) included severance and restructuring expenses of $2.9 million, $5.7 million, and $18.6 million for 2021, 2020, and 2019, respectively, which were allocated to the North America, International, and American Girl segments.
(b)Corporate and other expense included severance and restructuring charges of $31.5 million, $34.9 million, and $40.5 million for 2021, 2020, and 2019, respectively. Corporate and other expense also included expenses related to inclined sleeper recall litigation of $15.1 million, $26.2 million, and $10.3 million for 2021, 2020, and 2019, respectively, and incentive and share-based compensation for all periods presented.
 For the Year Ended
 December 31,
2021		December 31,
2020		December 31,
2019
 (In thousands)
Depreciation/Amortization by Segment
North America$86,308 $88,128 $110,299 
International59,610 67,218 85,496 
American Girl12,508 13,438 17,246 
158,426 168,784 213,041 
Corporate and other25,887 24,667 31,477 
Depreciation and amortization$184,313 $193,451 $244,518 
Segment assets are comprised of accounts receivable and inventories, net of applicable reserves and allowances.
 December 31,
2021		December 31,
2020		December 31,
2019
 (In thousands)
Assets by Segment
North America$784,836 $658,404 $569,352 
International798,833 715,043 727,781 
American Girl52,168 40,414 34,125 
1,635,837 1,413,861 1,331,258 
Corporate and other214,031 148,579 122,775 
Accounts receivable and inventories, net$1,849,868 $1,562,440 $1,454,033 
Geographic Information
The tables below present information by geographic area. Net sales are attributed to countries based on location of customer. Long-lived assets include property, plant, and equipment, net, and right-of-use assets, net.
 For the Year Ended
 December 31,
2021		December 31,
2020		December 31,
2019
 (In thousands)
Net Sales by Geographic Area
North America Region (a)$3,238,552 $2,684,883 $2,532,375 
International Region
EMEA1,375,463 1,132,531 1,056,392 
Latin America519,610 455,184 565,416 
Asia Pacific324,116 315,835 350,388 
Total International Region2,219,189 1,903,550 1,972,196 
Net sales$5,457,741 $4,588,433 $4,504,571 
 December 31,
2021		December 31,
2020		December 31,
2019
 (In thousands)
Long-Lived Assets
North America Region (b)$366,519 $368,985 $413,075 
International Region414,931 396,410 410,167 
Consolidated total$781,450 $765,395 $823,242 
(a)Net sales for the North America Region include net sales attributable to the United States of $3.07 billion, $2.53 billion, and $2.39 billion for 2021, 2020, and 2019, respectively.
(b)Long-lived assets for the North America Region include long-lived assets attributable to the United States of $343.7 million, $329.3 million, and $383.3 million for 2021, 2020, and 2019, respectively.
Major Customers
In 2021, net sales to Mattel’s three largest customers accounted for 46% of worldwide consolidated net sales. In 2021, net sales to Walmart, Target, and Amazon were $1.17 billion, $0.74 billion, and $0.62 billion, respectively. In 2020, net sales to Mattel’s three largest customers accounted for 47% of worldwide consolidated net sales. In 2020, net sales to Walmart, Target, and Amazon were $1.07 billion, $0.62 billion, and $0.47 billion, respectively. In 2019, net sales to Mattel’s two largest customers accounted for 32% of worldwide consolidated net sales. In 2019, net sales to Walmart and Target were $1.01 billion and $0.44 billion, respectively.
The North America segment sells products to each of Mattel’s three largest customers. The International segment sells products to Walmart and Amazon. The American Girl segment's net sales to Mattel's three largest customers were not material.