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Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

Schedule of Retirement Plan Expense

A summary of retirement plan expense, net is as follows:

			For the Year Ended
			December 31, 2021						December 31, 2020						December 31, 2019
			(In thousands)
Defined benefit pension plans			$	14,858					$	9,670					$	9,815
Defined contribution retirement plans			34,821						26,697						32,743
Postretirement benefit plans			(1,968)						(1,972)						(2,220)
Deferred compensation and excess benefit plans			6,857						6,391						10,994
			$	54,568					$	40,786					$	51,332

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive (Loss) Income

A summary of the components of Mattel’s net periodic benefit cost (credit) and other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) for the years ended December 31 is as follows:

			Defined Benefit Pension Plans																		Postretirement Benefit Plans
			2021						2020						2019						2021						2020						2019
			(In thousands)
Net periodic benefit cost (credit):
Service cost			$	4,925					$	4,348					$	4,479					$	2					$	1					$	1
Interest cost			10,094						15,079						19,309						78						139						201
Expected return on plan assets			(18,531)						(19,694)						(21,714)						—						—						—
Amortization of prior service cost (credit)			163						303						64						(2,038)						(2,038)						(2,038)
Recognized actuarial loss (gain)			11,177						9,584						7,585						(10)						(74)						(384)
Settlement loss			6,982						—						—						—						—						—
Curtailment loss			48						50						92						—						—						—
Net periodic benefit cost (credit)			$	14,858					$	9,670					$	9,815					$	(1,968)					$	(1,972)					$	(2,220)
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss):
Net actuarial (gain) loss			$	(42,671)					$	12,624					$	28,740					$	(605)					$	850					$	1,870
Prior service (credit) cost			204						269						26						—						—						—
Amortization of prior service (cost) credit			(163)						(303)						(64)						2,038						2,038						2,038
Total recognized in other comprehensive (income) loss (a)			$	(42,630)					$	12,590					$	28,702					$	1,433					$	2,888					$	3,908
Total recognized in net periodic benefit (credit) cost and other comprehensive income (loss)			$	(27,772)					$	22,260					$	38,517					$	(535)					$	916					$	1,688

(a)Amounts exclude related tax expense (benefit) of approximately $9 million, $2 million, and $(6) million, during 2021, 2020, and 2019, respectively, which are also included in other comprehensive income (loss).

Schedule of Components of Net Periodic Benefit Cost (Credit)

A summary of the components of Mattel’s net periodic benefit cost (credit) and other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) for the years ended December 31 is as follows:

			Defined Benefit Pension Plans																		Postretirement Benefit Plans
			2021						2020						2019						2021						2020						2019
			(In thousands)
Net periodic benefit cost (credit):
Service cost			$	4,925					$	4,348					$	4,479					$	2					$	1					$	1
Interest cost			10,094						15,079						19,309						78						139						201
Expected return on plan assets			(18,531)						(19,694)						(21,714)						—						—						—
Amortization of prior service cost (credit)			163						303						64						(2,038)						(2,038)						(2,038)
Recognized actuarial loss (gain)			11,177						9,584						7,585						(10)						(74)						(384)
Settlement loss			6,982						—						—						—						—						—
Curtailment loss			48						50						92						—						—						—
Net periodic benefit cost (credit)			$	14,858					$	9,670					$	9,815					$	(1,968)					$	(1,972)					$	(2,220)
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss):
Net actuarial (gain) loss			$	(42,671)					$	12,624					$	28,740					$	(605)					$	850					$	1,870
Prior service (credit) cost			204						269						26						—						—						—
Amortization of prior service (cost) credit			(163)						(303)						(64)						2,038						2,038						2,038
Total recognized in other comprehensive (income) loss (a)			$	(42,630)					$	12,590					$	28,702					$	1,433					$	2,888					$	3,908
Total recognized in net periodic benefit (credit) cost and other comprehensive income (loss)			$	(27,772)					$	22,260					$	38,517					$	(535)					$	916					$	1,688

(a)Amounts exclude related tax expense (benefit) of approximately $9 million, $2 million, and $(6) million, during 2021, 2020, and 2019, respectively, which are also included in other comprehensive income (loss).

Schedule of Assumptions Used to Calculate Net Periodic Benefit Cost for Domestic Defined Benefit Pension and Postretirement Benefit Plans

Net periodic benefit cost (credit) for Mattel’s domestic defined benefit pension and postretirement benefit plans was calculated on January 1 of each year using the following assumptions:

			For the Year Ended
			December 31, 2021						December 31, 2020						December 31, 2019
Defined benefit pension plans:
Discount rate			2.2		%				3.0		%				4.1		%
Weighted-average rate of future compensation increases			N/A						N/A						N/A
Long-term rate of return on plan assets			5.0		%				5.5		%				6.0		%
Postretirement benefit plans:
Discount rate			2.2		%				3.0		%				4.1		%
Annual increase in Medicare Part B premium			6.0		%				6.0		%				6.0		%
Health care cost trend rate:
Pre-65			7.0		%				7.0		%				7.0		%
Post-65			6.8		%				6.8		%				6.8		%
Ultimate cost trend rate:
Pre-65			4.5		%				4.5		%				4.5		%
Post-65			4.5		%				4.5		%				4.5		%
Year that the rate reaches the ultimate cost trend rate:
Pre-65			2027						2026						2025
Post-65			2027						2026						2025

Schedule of Changes in Benefit Obligation and Plan Assets for Defined Benefit Pension and Postretirement Benefit Plans

A summary of the changes in benefit obligation and plan assets is as follows:

			Defined Benefit Pension Plans												Postretirement Benefit Plans
			December 31, 2021						December 31, 2020						December 31, 2021						December 31, 2020
			(In thousands)
Change in Benefit Obligation:
Benefit obligation, beginning of year			$	671,181					$	628,152					$	6,246					$	5,781
Service cost			4,925						4,348						2						1
Interest cost			10,094						15,079						78						139
Impact of currency exchange rate changes			(5,762)						9,076						—						—
Actuarial (gain) loss			(16,597)						45,907						(614)						773
Benefits paid			(49,895)						(33,447)						(536)						(448)
Plan amendments			(656)						2,066						—						—
Settlements			1,612						—						—						—
Other			(1,636)						—						—						—
Benefit obligation, end of year			$	613,266					$	671,181					$	5,176					$	6,246
Change in Plan Assets:
Plan assets at fair value, beginning of year			$	457,880					$	431,747					$	—					$	—
Actual return on plan assets			28,622						44,104						—						—
Employer contributions			21,841						10,937						536						448
Impact of currency exchange rate changes			(1,244)						4,769						—						—
Benefits paid			(49,895)						(33,447)						(536)						(448)
Settlements			—						(230)						—						—
Other			(72)						—						—						—
Plan assets at fair value, end of year			$	457,132					$	457,880					$	—					$	—
Net Amount Recognized in Consolidated Balance Sheets:
Funded status, end of year			$	(156,134)					$	(213,301)					$	(5,176)					$	(6,246)
Current accrued benefit liability			$	(5,119)					$	(5,687)					$	(730)					$	(840)
Noncurrent accrued benefit liability, net			(151,015)						(207,614)						(4,446)						(5,406)
Net amount recognized			$	(156,134)					$	(213,301)					$	(5,176)					$	(6,246)
Amounts Recognized in Accumulated Other Comprehensive Loss (a):
Net actuarial loss (gain)			$	236,667					$	279,338					$	(956)					$	(351)
Prior service cost (credit)			189						148						(8,110)						(10,148)
			$	236,856					$	279,486					$	(9,066)					$	(10,499)

(a)Amounts exclude related tax benefits of approximately $74 million and $83 million for December 31, 2021 and 2020, respectively, which are also included in accumulated other comprehensive loss.

Schedule of Accumulated and Projected Benefit Obligations

As of December 31, 2021 and 2020, information for defined benefit pension plans that had aggregate accumulated benefit obligations and projected benefit obligations in excess of plan assets is as follows:

			For the Year Ended
			December 31, 2021						December 31, 2020
			(In thousands)
Projected benefit obligation			$	523,968					$	577,418
Accumulated benefit obligation			506,124						559,039
Fair value of plan assets			348,660						351,650

Schedule of Assumptions Used to Determine Projected and Accumulated Benefit Obligations of Domestic Defined Benefit Pension and Postretirement Benefit Plans

The assumptions used in determining the projected and accumulated benefit obligations of Mattel’s domestic defined benefit pension and postretirement benefit plans are as follows:

			December 31, 2021						December 31, 2020
Defined benefit pension plans:
Discount rate			2.5		%				2.2		%
Cash balance interest crediting rate			4.0		%				4.0		%
Weighted-average rate of future compensation increases			N/A						N/A
Postretirement benefit plans:
Discount rate			2.5		%				2.2		%
Annual increase in Medicare Part B premium			6.0		%				6.0		%
Health care cost trend rate:
Pre-65			7.0		%				7.0		%
Post-65			7.0		%				6.8		%
Ultimate cost trend rate:
Pre-65			4.5		%				4.5		%
Post-65			4.5		%				4.5		%
Year that the rate reaches the ultimate cost trend rate:
Pre-65			2028						2027
Post-65			2028						2027

Schedule of Estimated Future Benefit Payments for Defined Benefit Pension and Postretirement Benefit Plans

The estimated future benefit payments for Mattel’s defined benefit pension and postretirement benefit plans are as follows:

			Defined Benefit Pension Plans						Postretirement Benefit Plans
			(In thousands)
2022			$	36,733					$	730
2023			35,462						630
2024			37,931						530
2025			36,268						530
2026			35,159						530
2027 - 2031			175,748						1,520

Schedule of Plan Assets Measured and Reported in Financial Statements at Fair Value

Mattel’s defined benefit pension plan assets are measured and reported in the consolidated financial statements at fair value using inputs, which are more fully described in "Note 10 to the Consolidated Financial Statements—Fair Value Measurements," as follows:

			December 31, 2021
			Level 1						Level 2						Level 3						Total
			(In thousands)
U.S. government and U.S. government agency securities			$	—					$	1,584					$	—					$	1,584
U.S. corporate debt instruments			—						68,070						—						68,070
International corporate debt instruments			—						23,752						—						23,752
Mutual funds (a)			—						—						—						132,165
Money market funds			3,650						—						—						3,650
Other investments			—						6,979						—						6,979
Insurance "buy-in" policy			—						—						30,731						30,731
Collective trust funds (a):
U.S. equity securities																					65,256
International equity securities																					12,832
Global fixed income																					48,745
Diversified funds																					46,407
Real Estate																					$	16,961
Total			$	3,650					$	100,385					$	30,731					$	457,132

			December 31, 2020
			Level 1						Level 2						Level 3						Total
			(In thousands)
U.S. government and U.S. government agency securities			$	—					$	14,132					$	—					$	14,132
U.S. corporate debt instruments			—						69,708						—						69,708
International corporate debt instruments			—						17,490						—						17,490
Mutual funds (a)			—						—						—						73,314
Money market funds			323						—						—						323
Other investments			—						8,449						—						8,449
Insurance "buy-in" policy			—						—						32,794						32,794
Collective trust funds (a):
U.S. equity securities																					69,528
International equity securities																					66,749
Global fixed income																					45,862
Diversified funds																					42,884
Real Estate																					$	16,647
Total			$	323					$	109,779					$	32,794					$	457,880

(a)    These investments primarily consist of privately placed funds that are valued based on net asset value per share. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position and its related disclosures.

Schedule of Assets Measured at Fair Value on a Recurring Basis Using Unobservable Inputs

The following table provides a reconciliation of the beginning and ending balances of assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3):

			Level 3
			(in thousands)
Balance at December 31, 2019			$	31,281
Purchases, sales, and settlements			(1,867)
Change in fair value			3,380
Balance at December 31, 2020			32,794
Purchases, sales, and settlements			(1,854)
Change in fair value			(209)
Balance at December 31, 2021			$	30,731

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