XML 34 R25.htm IDEA: XBRL DOCUMENT
v3.23.2

Restructuring Charges | 6 Months Ended
--- | ---
Jun. 30, 2023
Restructuring and Related Activities [Abstract] |
Restructuring Charges | Restructuring Charges Optimizing for Growth (formerly Capital Light) Mattel's Optimizing for Growth program is a multi-year cost savings program that integrates and expands upon the previously announced Capital Light program (the "Program"). In February 2023, the Program was expanded to include additional initiatives, including actions to further streamline Mattel's organizational structure. In connection with the Program, Mattel recorded severance and other restructuring costs in the following cost and expense categories within operating income in the consolidated statements of operations:
| For the Three Months Ended |  | For the Six Months Ended
| June 30, 2023 |  | June 30, 2022 |  | June 30, 2023 |  | June 30, 2022
| (In thousands)
Cost of sales (a) | $ | (1,200) |  |  | $ | 5,760 |  |  | $ | (1,200) |  |  | $ | 8,429 |
Other selling and administrative expenses (b) | 7,767 |  |  | 5,747 |  |  | 28,468 |  |  | 12,161 |
| $ | 6,567 |  |  | $ | 11,507 |  |  | $ | 27,268 |  |  | $ | 20,590 |
(a)Severance and other restructuring charges recorded within cost of sales in the consolidated statements of operations are included in segment operating (loss) income in "Note 21 to the Consolidated Financial Statements—Segment Information." (b)Severance and other restructuring charges recorded within other selling and administrative expenses in the consolidated statements of operations are included in corporate and other expense in "Note 21 to the Consolidated Financial Statements—Segment Information." The following tables summarize Mattel's severance and other restructuring charges activity within operating income related to the Program:
| Liability at December 31, 2022 |  | Charges |  | Payments/Utilization |  | Liability at June 30, 2023
| (In thousands)
Severance | $ | 9,355 |  |  | $ | 20,500 |  |  | $ | (14,226) |  |  | $ | 15,629 |
Other restructuring charges (a) | 3,540 |  |  | 6,768 |  |  | (8,889) |  |  | 1,419 |
| $ | 12,895 |  |  | $ | 27,268 |  |  | $ | (23,115) |  |  | $ | 17,048 |
| Liability at December 31, 2021 |  | Charges |  | Payments/Utilization |  | Liability at June 30, 2022
| (In thousands)
Severance | $ | 12,411 |  |  | $ | 11,754 |  |  | $ | (9,011) |  |  | $ | 15,154 |
Other restructuring charges (a) | 2,834 |  |  | 8,836 |  |  | (10,705) |  |  | 965 |
| $ | 15,245 |  |  | $ | 20,590 |  |  | $ | (19,716) |  |  | $ | 16,119 |
(a)Other restructuring charges consist primarily of expenses associated with the restructuring of commercial and corporate functions and consolidation of manufacturing facilities. As of June 30, 2023, Mattel had recorded cumulative severance and other restructuring charges related to the Program of approximately $193 million, which included approximately $73 million of non-cash charges, including $45.4 million recognized within non-operating expense, net, during the fourth quarter of 2022 related to the liquidation of Mattel's subsidiary in Argentina. Furthermore, cumulatively, in conjunction with previous actions taken under the Capital Light program, total expected cash expenditures are approximately $195 to $225 million and total expected non-cash charges are approximately $75 million. Other Cost Savings Actions In the first half of 2023, Mattel executed additional actions to further streamline its organizational structure that were not included in the Program. In connection with these actions, during the six months ended June 30, 2023, severance costs of $5.2 million were recorded within other selling and administrative expenses in the consolidated statement of operations.

X
- References No definition available. + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//420/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration