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Stockholders' Equity | 12 Months Ended
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Dec. 31, 2022
Equity [Abstract] |
Stockholders' Equity | Stockholders' Equity Preference Stock Mattel is authorized to issue up to 20.0 million shares of $0.01 par value preference stock, of which none is currently outstanding. Preferred Stock Mattel is authorized to issue up to 3.0 million shares of $1.00 par value preferred stock, of which none is currently outstanding. Common Stock Repurchase Program During 2022, 2021, and 2020, Mattel did not repurchase any shares of its common stock. Mattel's share repurchase program was first announced on July 21, 2003. On July 17, 2013, the Board of Directors authorized Mattel to increase its share repurchase program by $500.0 million. At December 31, 2022, share repurchase authorizations of $203.0 million had not been executed. Repurchases will take place from time to time, depending on market conditions. Mattel's share repurchase program has no expiration date. Dividends During 2022, 2021, and 2020, Mattel did not pay any dividends to holders of its common stock. The payment of dividends on common stock is at the discretion of the Board of Directors and is subject to customary limitations. Accumulated Other Comprehensive Income (Loss) The following tables present changes in the accumulated balances for each component of other comprehensive income (loss), including current period other comprehensive income (loss) and reclassifications out of accumulated other comprehensive income (loss):
| For the Year Ended December 31, 2022
| 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, 2021 | $ | 8,796 |  |  | $ | (6,447) |  |  | $ | (154,099) |  |  | $ | (789,521) |  |  | $ | (941,271) |
Other comprehensive income (loss) before reclassifications | 40,449 |  |  | — |  |  | 14,988 |  |  | (51,557) |  |  | 3,880 |
Amounts reclassified from accumulated other comprehensive income (loss) | (26,513) |  |  | 3,646 |  |  | 613 |  |  | 45,366 |  |  | 23,112 |
Net increase (decrease) in other comprehensive income (loss) | 13,936 |  |  | 3,646 |  |  | 15,601 |  |  | (6,191) |  |  | 26,992 |
Adjustment of accumulated other comprehensive loss to retained earnings | — |  |  | 2,801 |  |  | — |  |  | — |  |  | 2,801 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of December 31, 2022 | $ | 22,732 |  |  | $ | — |  |  | $ | (138,498) |  |  | $ | (795,712) |  |  | $ | (911,478) |
| For the Year Ended December 31, 2021
| Derivative Instruments |  | Available-for-Sale Security |  | 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 | 23,253 |  |  | 1,075 |  |  | 19,961 |  |  | (54,690) |  |  | (10,401) |
Amounts reclassified from accumulated other comprehensive loss | 912 |  |  | — |  |  | 12,794 |  |  | — |  |  | 13,706 |
Net increase (decrease) in other comprehensive loss | 24,165 |  |  | 1,075 |  |  | 32,755 |  |  | (54,690) |  |  | 3,305 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of December 31, 2021 | $ | 8,796 |  |  | $ | (6,447) |  |  | $ | (154,099) |  |  | $ | (789,521) |  |  | $ | (941,271) |
| For the Year Ended December 31, 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 (loss) income before reclassifications | (18,289) |  |  | 738 |  |  | (22,941) |  |  | (32,423) |  |  | (72,915) |
Amounts reclassified from accumulated other comprehensive income (loss) | (8,121) |  |  | — |  |  | 5,944 |  |  | — |  |  | (2,177) |
Net (decrease) increase in other comprehensive income (loss) | (26,410) |  |  | 738 |  |  | (16,997) |  |  | (32,423) |  |  | (75,092) |
Accumulated Other Comprehensive Loss, Net of Tax, as of December 31, 2020 | $ | (15,369) |  |  | $ | (7,522) |  |  | $ | (186,854) |  |  | $ | (734,831) |  |  | $ | (944,576) |
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 Year Ended |  | Consolidated Statements of Operations Classification
| December 31, 2022 |  | December 31, 2021 |  | December 31, 2020 |
| (In thousands) |  |
Derivative Instruments |  |  |  |  |  |  |
Gain (loss) on foreign currency forward exchange and other contracts | $ | 26,500 |  |  | $ | (512) |  |  | $ | 8,040 |  |  | Cost of sales
Tax effect | 13 |  |  | (400) |  |  | 81 |  |  | Provision (benefit) for income taxes
| $ | 26,513 |  |  | $ | (912) |  |  | $ | 8,121 |  |  | Net Income
Employee Benefit Plans |  |  |  |  |  |  |
Amortization of prior service credit (a) | $ | 1,883 |  |  | $ | 1,875 |  |  | $ | 1,735 |  |  | Other non-operating expense, net
Recognized actuarial loss (a) | (8,896) |  |  | (11,167) |  |  | (9,510) |  |  | Other non-operating expense, net
Curtailment gain (loss) (a) | 326 |  |  | (48) |  |  | (50) |  |  | Other non-operating expense, net
Settlement loss (a) | (19) |  |  | (6,982) |  |  | — |  |  | Other non-operating expense, net
| (6,706) |  |  | (16,322) |  |  | (7,825) |  |  |
Tax effect | 6,093 |  |  | 3,528 |  |  | 1,881 |  |  | Provision (benefit) for income taxes
| $ | (613) |  |  | $ | (12,794) |  |  | $ | (5,944) |  |  | Net Income
Currency Translation Adjustments |  |  |  |  |  |  |
Loss on liquidation of subsidiary | $ | (45,366) |  |  | $ | — |  |  | $ | — |  |  | Other non-operating expense, net
Tax effect (b) | — |  |  | — |  |  | — |  |  | Provision (benefit) for income taxes
| $ | (45,366) |  |  | $ | — |  |  | $ | — |  |  |
(a)The amortization of prior service credit, recognized actuarial loss, curtailment gain (loss) and settlement loss are included in the computation of net periodic benefit cost. Refer to "Note 4 to the Consolidated Financial Statements—Employee Benefit Plans" for additional information regarding Mattel's net periodic benefit cost. (b)There is no tax affect associated with the loss on the liquidation of Mattel's subsidiary in Argentina. During 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, net in the consolidated statement of operations and $2.8 million reclassified to retained earnings in the consolidated statement of stockholders' equity. The adjustment, including tax effect, was immaterial to the financial statements. Currency Translation Adjustments During 2022, currency translation adjustments resulted in a net other comprehensive loss of $51.6 million, primarily due to the weakening of the British pound sterling, Euro, and Hong Kong dollar against the U.S. dollar, partially offset by the strengthening of the Mexican peso and Brazilian real against the U.S. dollar. Upon sale or upon complete or substantially complete liquidation of an investment in a foreign entity, the accumulated currency translation adjustment related to the foreign entity is reclassified from accumulated other comprehensive loss to earnings. During the fourth quarter of 2022, the liquidation of Mattel's subsidiary in Argentina was substantially complete and as a result, $45.4 million of accumulated currency translation losses were recognized in other non-operating expense, net within the consolidated statement of operations. During 2021, currency translation adjustments resulted in a net other comprehensive loss of $54.7 million, primarily due to the weakening of the Turkish lira, Chilean peso, Mexican peso, Euro, and Brazilian real against the U.S. dollar. During 2020, currency translation adjustments resulted in a net other comprehensive loss of $32.4 million, primarily due to the weakening of the Brazilian real, Russian ruble, and Mexican peso against the U.S. dollar, partially offset by the strengthening of the British pound sterling against the U.S. dollar.

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