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Share-Based Payments (Tables) | 12 Months Ended
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Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Weighted Average Assumptions Used to Determine Fair Value of Awards Granted | The following weighted-average valuation assumptions were used in determining the fair value of options granted:
| 2023 |  | 2022 |  | 2021
Expected life (in years) | 6.6 |  | 6.4 |  | 6.2
Risk-free interest rate | 3.5 | % |  | 3.1 | % |  | 0.8 | %
Volatility factor | 44.4 | % |  | 43.8 | % |  | 43.6 | %
Dividend yield | — | % |  | — | % |  | — | %
The following weighted-average valuation assumptions were used in determining the fair value of the market-related components of performance awards granted:
| 2023 |  | 2022 |  | 2021
Risk-free interest rate | 3.8 | % |  | 2.8 | % |  | 0.3 | %
Volatility factor | 35.6 | % |  | 43.4 | % |  | 50.1 | %
Dividend yield | — | % |  | — | % |  | — | %
Schedule of Stock Option Information and Weighted Average Exercise Prices | The following is a summary of stock option information and weighted-average exercise prices for Mattel's stock options:
| 2023 |  | 2022 |  | 2021
| Shares |  | Weighted Average Exercise Price |  | Shares |  | Weighted Average Exercise Price |  | Shares |  | Weighted Average Exercise Price
| (In thousands, except weighted-average exercise prices)
Outstanding at January 1 | 17,563 |  |  | $ | 21.73 |  |  | 19,678 |  |  | $ | 22.38 |  |  | 21,635 |  |  | $ | 22.10 |
Granted | 579 |  |  | 18.00 |  |  | 721 |  |  | 23.41 |  |  | 1,054 |  |  | 21.71 |
Exercised | (1,751) |  |  | 15.27 |  |  | (1,412) |  |  | 19.65 |  |  | (687) |  |  | 17.65 |
Forfeited | (146) |  |  | 18.59 |  |  | (104) |  |  | 18.13 |  |  | (72) |  |  | 14.00 |
Canceled | (4,503) |  |  | 27.57 |  |  | (1,320) |  |  | 34.94 |  |  | (2,252) |  |  | 21.10 |
Outstanding at December 31 | 11,742 |  |  | $ | 20.30 |  |  | 17,563 |  |  | $ | 21.73 |  |  | 19,678 |  |  | $ | 22.38 |
Exercisable at December 31 | 10,544 |  |  | $ | 20.25 |  |  | 15,531 |  |  | $ | 22.10 |  |  | 16,634 |  |  | $ | 23.68 |
Schedule of RSU Information and Weighted Average Grant Date Fair Values | The following is a summary of RSU information and weighted-average grant-date fair values for Mattel's RSUs:
| 2023 |  | 2022 |  | 2021
| Shares |  | Weighted Average Grant-Date Fair Value |  | Shares |  | Weighted Average Grant-Date Fair Value |  | Shares |  | Weighted Average Grant-Date Fair Value
| (In thousands, except weighted-average grant-date fair values)
Unvested at January 1 | 4,503 |  |  | $ | 21.00 |  |  | 3,855 |  |  | $ | 17.03 |  |  | 3,986 |  |  | $ | 12.52 |
Granted | 3,479 |  |  | 18.24 |  |  | 2,728 |  |  | 23.20 |  |  | 2,167 |  |  | 21.77 |
Vested | (2,186) |  |  | 19.18 |  |  | (1,790) |  |  | 16.01 |  |  | (1,954) |  |  | 13.66 |
Forfeited | (622) |  |  | 19.91 |  |  | (290) |  |  | 19.77 |  |  | (344) |  |  | 13.72 |
Unvested at December 31 | 5,174 |  |  | $ | 20.04 |  |  | 4,503 |  |  | $ | 21.00 |  |  | 3,855 |  |  | $ | 17.03 |
Schedule of Performance Award Information and Weighted Average Grant Date Fair Values | The following is a summary of performance award information and weighted-average grant-date fair values for Mattel's performance awards:
| 2023 |  | 2022 |  | 2021
| Shares |  | Weighted Average Grant-Date Fair Value |  | Shares |  | Weighted Average Grant-Date Fair Value |  | Shares |  | Weighted Average Grant-Date Fair Value
| (In thousands, except weighted-average grant-date fair values)
Unvested at January 1 | 2,894 |  |  | $ | 18.77 |  |  | 3,347 |  |  | $ | 15.52 |  |  | 3,405 |  |  | $ | 13.79 |
Granted (a)(b) | 1,954 |  |  | 16.42 |  |  | 1,440 |  |  | 21.35 |  |  | 906 |  |  | 22.04 |
Vested | (2,189) |  |  | 11.93 |  |  | (1,823) |  |  | 14.89 |  |  | (884) |  |  | 15.63 |
Forfeited | (219) |  |  | 18.96 |  |  | (70) |  |  | 17.26 |  |  | (80) |  |  | 14.70 |
Unvested at December 31 | 2,440 |  |  | $ | 23.01 |  |  | 2,894 |  |  | $ | 18.77 |  |  | 3,347 |  |  | $ | 15.52 |
(a)During 2023, Mattel granted 1.2 million shares as part of its 2023 LTIP and issued 0.8 million incremental shares under the 2020 LTIP based on the final earnout of the 2020 performance cycle, which are included in the weighted average grant-date fair value. During 2022, Mattel granted 0.7 million shares as part of its 2022 LTIP and issued 0.8 million incremental shares under the 2019 LTIP based on the final earnout of the 2019 performance cycle, which are included in the weighted average grant-date fair value. During 2021, Mattel granted 0.8 million shares under the 2021 LTIP and issued 0.1 million incremental shares under the 2018 LTIP based on the final earnout of the 2018 performance cycle, which are included in the weighted average grant-date fair value. (b)The number of shares granted for the 2023 LTIP, the 2022 LTIP, and the 2021 LTIP, represents the aggregate target numbers of shares that may be issued pursuant to the award over its full term. The aggregate number of shares subject to performance awards that would be issued if performance goals are achieved at the maximum number of shares are approximately 2 million, 1 million, and 2 million for 2023, 2022, and 2021, respectively.

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