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Fair Value Measurements | 6 Months Ended
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Jun. 30, 2023
Fair Value Disclosures [Abstract] |
Fair Value Measurements | Fair Value Measurements The following tables present information about Mattel's financial assets and liabilities measured and reported in the financial statements at fair value on a recurring basis as of June 30, 2023, June 30, 2022, and December 31, 2022 and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value. The three levels of the fair value hierarchy are as follows: •Level 1 – Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access. •Level 2 – Valuations based on quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities. •Level 3 – Valuations based on inputs that are unobservable, supported by little or no market activity, and that are significant to the fair value of the assets or liabilities.
| June 30, 2023
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (In thousands)
Assets: |  |  |  |  |  |  |
Foreign currency forward exchange and other contracts (a) | $ | — |  |  | $ | 8,724 |  |  | $ | — |  |  | $ | 8,724 |
Liabilities: |  |  |  |  |  |  |
Foreign currency forward exchange and other contracts (a) | $ | — |  |  | $ | 7,577 |  |  | $ | — |  |  | $ | 7,577 |
| June 30, 2022
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (In thousands)
Assets: |  |  |  |  |  |  |
Foreign currency forward exchange and other contracts (a) | $ | — |  |  | $ | 44,182 |  |  | $ | — |  |  | $ | 44,182 |
Available-for-sale (b) | 4,400 |  |  | — |  |  | — |  |  | 4,400 |
Total assets | $ | 4,400 |  |  | $ | 44,182 |  |  | $ | — |  |  | $ | 48,582 |
Liabilities: |  |  |  |  |  |  |
Foreign currency forward exchange and other contracts (a) | $ | — |  |  | $ | 2,136 |  |  | $ | — |  |  | $ | 2,136 |
| December 31, 2022
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (In thousands)
Assets: |  |  |  |  |  |  |
Foreign currency forward exchange and other contracts (a) | $ | — |  |  | $ | 17,563 |  |  | $ | — |  |  | $ | 17,563 |
Liabilities: |  |  |  |  |  |  |
Foreign currency forward exchange and other contracts (a) | $ | — |  |  | $ | 10,754 |  |  | $ | — |  |  | $ | 10,754 |
(a)The fair value of the foreign currency forward exchange and other contracts was based on dealer quotes of market forward rates and reflects the amount that Mattel would receive or pay at their maturity dates for contracts involving the same notional amounts, currencies, and maturity dates. (b)The fair value of the available-for-sale security was based on the quoted price on an active public exchange. Other Financial Instruments Mattel's financial instruments included cash and equivalents, accounts receivable and payable, accrued liabilities, short-term borrowings, and long-term debt. The fair values of these instruments, excluding long-term debt, approximate their carrying amounts because of their short-term nature. Cash and equivalents were classified as Level 1 and all other financial instruments were classified as Level 2 within the fair value hierarchy. The estimated fair value of Mattel's long-term debt was $2.14 billion (compared to a carrying amount of $2.35 billion) as of June 30, 2023, $2.42 billion (compared to a carrying amount of $2.60 billion) as of June 30, 2022, and $2.13 billion (compared to a carrying amount of $2.35 billion) as of December 31, 2022. The estimated fair values have been calculated based on broker quotes or rates for the same or similar instruments and were classified as Level 2 within the fair value hierarchy.

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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