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v3.22.4

Leases | 12 Months Ended
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Dec. 31, 2022
Leases [Abstract] |
Leases | Leases The following table summarizes Mattel's right-of-use assets and liabilities and other information about its leases:
| December 31, 2022 |  | December 31, 2021
| (In thousands, except years and percentage information)
Right-of-use assets, net | $ | 318,680 |  |  | $ | 325,484 |
Accrued liabilities | $ | 75,297 |  |  | $ | 73,752 |
Noncurrent lease liabilities | 271,418 |  |  | 283,626 |
Total lease liabilities | $ | 346,715 |  |  | $ | 357,378 |
Weighted-average remaining lease term | 5.6 years |  | 6.1 years
Weighted-average discount rate | 6.5 | % |  | 6.5 | %
The components of lease costs for the years ended December 31, 2022, 2021, and 2020 are as follows:
| For the Year Ended
| December 31, 2022 |  | December 31, 2021 |  | December 31, 2020
| (In thousands)
Lease costs (a) (b) | $ | 140,188 |  |  | $ | 134,272 |  |  | $ | 136,842 |
(a) Includes short-term and variable lease costs of approximately $47 million, $39 million, and $42 million for 2022, 2021, and 2020 respectively. Variable lease costs primarily relate to variable components of third party logistics rental charges, common area maintenance charges, management fees, and taxes. (b) Contingent rental expense is recorded in the period in which the contingent event becomes probable. During 2022, 2021, and 2020, contingent rental expense was not material. Supplemental information related to leases are as follows:
| For the Year Ended
| December 31, 2022 |  | December 31, 2021 |  | December 31, 2020
| (In thousands)
Cash payments for leases | $ | 93,465 |  |  | $ | 100,286 |  |  | $ | 96,953 |
Right-of-use assets obtained in exchange for new and modified lease liabilities | $ | 74,199 |  |  | $ | 105,898 |  |  | $ | 53,753 |
The following table shows the future maturities of lease liabilities for leases in effect as of December 31, 2022:
Years Ending December 31, |  | Lease Liabilities
|  | (In thousands)
2023 |  | $ | 93,863 |
2024 |  | 83,628 |
2025 |  | 71,004 |
2026 |  | 58,510 |
2027 |  | 31,677 |
Thereafter |  | 81,106 |
|  | 419,788 |
Less: imputed interest |  | (73,073) |
|  | $ | 346,715 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
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