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Accumulated Other Comprehensive Income (Loss) | 6 Months Ended
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Jun. 30, 2022
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, 2022
| Derivative Instruments |  | Available-for-Sale Securities |  | Employee Benefit Plans |  | Currency Translation Adjustments |  | Total
| (In thousands)
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of March 31, 2022 | $ | 14,903 |  |  | $ | — |  |  | $ | (152,712) |  |  | $ | (788,600) |  |  | $ | (926,409) |
Other comprehensive income (loss) before reclassifications | 26,425 |  |  | — |  |  | 217 |  |  | (6,490) |  |  | 20,152 |
Amounts reclassified from accumulated other comprehensive income (loss) | (7,998) |  |  | — |  |  | 1,107 |  |  | — |  |  | (6,891) |
Net increase (decrease) in other comprehensive income (loss) | 18,427 |  |  | — |  |  | 1,324 |  |  | (6,490) |  |  | 13,261 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of June 30, 2022 | $ | 33,330 |  |  | $ | — |  |  | $ | (151,388) |  |  | $ | (795,090) |  |  | $ | (913,148) |
| For the Six Months Ended June 30, 2022
| Derivative Instruments |  | Available-for-Sale Securities |  | Employee Benefit Plans |  | Currency Translation Adjustments |  | Total
| (In thousands)
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of December 31, 2021 | $ | 8,796 |  |  | $ | (6,447) |  |  | $ | (154,099) |  |  | $ | (789,521) |  |  | $ | (941,271) |
Other comprehensive income (loss) before reclassifications | 33,889 |  |  | — |  |  | (98) |  |  | (5,569) |  |  | 28,222 |
Amounts reclassified from accumulated other comprehensive income (loss) | (9,355) |  |  | 3,646 |  |  | 2,809 |  |  | — |  |  | (2,900) |
Net increase (decrease) in other comprehensive income (loss) | 24,534 |  |  | 3,646 |  |  | 2,711 |  |  | (5,569) |  |  | 25,322 |
Adjustment of accumulated other comprehensive loss to retained earnings | — |  |  | 2,801 |  |  | — |  |  | — |  |  | 2,801 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of June 30, 2022 | $ | 33,330 |  |  | $ | — |  |  | $ | (151,388) |  |  | $ | (795,090) |  |  | $ | (913,148) |
| For the Three Months Ended June 30, 2021
| Derivative Instruments |  | Available-for-Sale Securities |  | Employee Benefit Plans |  | Currency Translation Adjustments |  | Total
| (In thousands)
Accumulated Other Comprehensive Loss, Net of Tax, as of March 31, 2021 | $ | (7,998) |  |  | $ | (5,558) |  |  | $ | (184,506) |  |  | $ | (762,964) |  |  | $ | (961,026) |
Other comprehensive (loss) income before reclassifications | (771) |  |  | 1,268 |  |  | (254) |  |  | 20,932 |  |  | 21,175 |
Amounts reclassified from accumulated other comprehensive loss | 2,060 |  |  | — |  |  | 2,475 |  |  | — |  |  | 4,535 |
Net increase (decrease) in other comprehensive income (loss) | 1,289 |  |  | 1,268 |  |  | 2,221 |  |  | 20,932 |  |  | 25,710 |
Accumulated Other Comprehensive Loss, Net of Tax, as of June 30, 2021 | $ | (6,709) |  |  | $ | (4,290) |  |  | $ | (182,285) |  |  | $ | (742,032) |  |  | $ | (935,316) |
| For the Six Months Ended June 30, 2021
| Derivative Instruments |  | Available-for-Sale Securities |  | Employee Benefit Plans |  | Currency Translation Adjustments |  | Total
| (In thousands)
Accumulated Other Comprehensive Loss, Net of Tax, as of December 31, 2020 | $ | (15,369) |  |  | $ | (7,522) |  |  | $ | (186,854) |  |  | $ | (734,831) |  |  | $ | (944,576) |
Other comprehensive income (loss) before reclassifications | 9,331 |  |  | 3,232 |  |  | (259) |  |  | (7,201) |  |  | 5,103 |
Amounts reclassified from accumulated other comprehensive loss | (671) |  |  | — |  |  | 4,828 |  |  | — |  |  | 4,157 |
Net increase (decrease) in other comprehensive income (loss) | 8,660 |  |  | 3,232 |  |  | 4,569 |  |  | (7,201) |  |  | 9,260 |
Accumulated Other Comprehensive Loss, Net of Tax, as of June 30, 2021 | $ | (6,709) |  |  | $ | (4,290) |  |  | $ | (182,285) |  |  | $ | (742,032) |  |  | $ | (935,316) |
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, 2022 |  | June 30, 2021 |  | Statements of Operations Classification
| (In thousands) |  |
Derivative Instruments |
Gain (loss) on foreign currency forward exchange and other contracts | $ | 8,043 |  |  | $ | (1,969) |  |  | Cost of sales
Tax effect | (45) |  |  | (91) |  |  | Provision for income taxes
| $ | 7,998 |  |  | $ | (2,060) |  |  | Net income (loss)
Employee Benefit Plans |  |  |  |  |
Amortization of prior service credit (a) | $ | 436 |  |  | $ | 390 |  |  | Other non-operating expense (income), net
Recognized actuarial loss (a) | (2,319) |  |  | (2,773) |  |  | Other non-operating expense (income), net
| $ | (1,883) |  |  | $ | (2,383) |  |  |
Tax effect | 776 |  |  | (92) |  |  | Provision for income taxes
| $ | (1,107) |  |  | $ | (2,475) |  |  | Net income (loss)
(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" for additional information regarding Mattel's net periodic benefit cost.
| For the Six Months Ended |  |
| June 30, 2022 |  | June 30, 2021 |  | Statements of Operations Classification
| (In thousands) |  |
Derivative Instruments |
Gain on foreign currency forward exchange and other contracts | $ | 9,472 |  |  | $ | 870 |  |  | Cost of sales
Tax effect | (117) |  |  | (199) |  |  | Provision for income taxes
| $ | 9,355 |  |  | $ | 671 |  |  | Net Income (loss)
Employee Benefit Plans |  |  |  |  |
Amortization of prior service credit (a) | $ | 905 |  |  | $ | 789 |  |  | Other non-operating expense (income), net
Recognized actuarial loss (a) | (4,541) |  |  | (5,555) |  |  | Other non-operating expense (income), net
| (3,636) |  |  | (4,766) |  |  |
Tax effect | 827 |  |  | (62) |  |  | Provision for income taxes
| $ | (2,809) |  |  | $ | (4,828) |  |  | Net Income (loss)
(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" for additional information regarding Mattel's net periodic benefit cost. During the three months ended March 31, 2022, Mattel adjusted accumulated other comprehensive loss by $6.4 million in relation to previously recorded available-for-sale equity securities. This amount was adjusted in order to account for such securities in a manner consistent with ASC 321, Investments—Equity Securities. The adjustment includes $3.6 million of accumulated other comprehensive loss reclassified to other non-operating expense (income) in the statement of operations and $2.8 million reclassified to retained earnings in the statement of stockholders' equity. The adjustment, including tax effect, was immaterial to the financial statements. 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 loss within stockholders' equity. Currency translation adjustments resulted in a net loss of $5.6 million for the six months ended June 30, 2022, primarily due to the weakening of the British pound sterling and the Euro against the U.S. dollar, offset by the strengthening of the Russian ruble and the Brazilian real against the U.S. dollar. Currency translation adjustments resulted in a net loss of $7.2 million for the six months ended June 30, 2021, primarily due to the weakening of the Turkish lira 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI https://asc.fasb.org/topic&trid=2134417 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 + Details
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