XML 43 R30.htm IDEA: XBRL DOCUMENT v3.24.0.1

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Schedule of Retirement Plan Expense

A summary of retirement plan expense, net is as follows:

			For the Year Ended
			December 31, 2023						December 31, 2022						December 31, 2021
			(In thousands)
Defined contribution retirement plans			$	37,784					$	36,900					$	34,821
Defined benefit pension plans			9,949						5,693						14,858
Deferred compensation and excess benefit plans			8,227						(7,113)						6,857
Postretirement benefit plans			(2,084)						(2,047)						(1,968)
			$	53,876					$	33,433					$	54,568

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive (Loss) Income

A summary of the components of Mattel's net periodic benefit cost (credit) and other changes in plan assets and benefit obligations recognized in other comprehensive income for the years ended December 31 is as follows:

			Defined Benefit Pension Plans																		Postretirement Benefit Plans
			2023						2022						2021						2023						2022						2021
			(In thousands)
Net Periodic Benefit Cost (Credit):
Service cost			$	3,371					$	4,010					$	4,925					$	1					$	2					$	2
Interest cost			20,966						12,081						10,094						179						89						78
Expected return on plan assets			(20,372)						(19,242)						(18,531)						—						—						—
Amortization of prior service cost (credit)			150						155						163						(2,038)						(2,038)						(2,038)
Recognized actuarial loss (gain)			5,893						8,996						11,177						(226)						(100)						(10)
Settlement (gain) loss			(59)						19						6,982						—						—						—
Curtailment (gain) loss			—						(326)						48						—						—						—
Net periodic benefit cost (credit)			$	9,949					$	5,693					$	14,858					$	(2,084)					$	(2,047)					$	(1,968)
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income:
Net actuarial loss (gain)			$	904					$	(23,501)					$	(42,671)					$	311					$	(922)					$	(605)
Prior service cost			1,169						1,022						204						—						—						—
Amortization of prior service (cost) credit			(150)						(155)						(163)						2,038						2,038						2,038
Total recognized in other comprehensive loss (income) (a)			$	1,923					$	(22,634)					$	(42,630)					$	2,349					$	1,116					$	1,433
Total recognized in net periodic benefit cost (credit) and other comprehensive income			$	11,872					$	(16,941)					$	(27,772)					$	265					$	(931)					$	(535)

(a)Amounts exclude related tax (benefit) expense of approximately $(2) million, $6 million, and $9 million, during 2023, 2022, and 2021, respectively, which are also included in other comprehensive income.

Schedule of Components of Net Periodic Benefit Cost (Credit)

A summary of the components of Mattel's net periodic benefit cost (credit) and other changes in plan assets and benefit obligations recognized in other comprehensive income for the years ended December 31 is as follows:

			Defined Benefit Pension Plans																		Postretirement Benefit Plans
			2023						2022						2021						2023						2022						2021
			(In thousands)
Net Periodic Benefit Cost (Credit):
Service cost			$	3,371					$	4,010					$	4,925					$	1					$	2					$	2
Interest cost			20,966						12,081						10,094						179						89						78
Expected return on plan assets			(20,372)						(19,242)						(18,531)						—						—						—
Amortization of prior service cost (credit)			150						155						163						(2,038)						(2,038)						(2,038)
Recognized actuarial loss (gain)			5,893						8,996						11,177						(226)						(100)						(10)
Settlement (gain) loss			(59)						19						6,982						—						—						—
Curtailment (gain) loss			—						(326)						48						—						—						—
Net periodic benefit cost (credit)			$	9,949					$	5,693					$	14,858					$	(2,084)					$	(2,047)					$	(1,968)
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income:
Net actuarial loss (gain)			$	904					$	(23,501)					$	(42,671)					$	311					$	(922)					$	(605)
Prior service cost			1,169						1,022						204						—						—						—
Amortization of prior service (cost) credit			(150)						(155)						(163)						2,038						2,038						2,038
Total recognized in other comprehensive loss (income) (a)			$	1,923					$	(22,634)					$	(42,630)					$	2,349					$	1,116					$	1,433
Total recognized in net periodic benefit cost (credit) and other comprehensive income			$	11,872					$	(16,941)					$	(27,772)					$	265					$	(931)					$	(535)

(a)Amounts exclude related tax (benefit) expense of approximately $(2) million, $6 million, and $9 million, during 2023, 2022, and 2021, respectively, which are also included in other comprehensive income.

Schedule of Assumptions Used to Calculate Net Periodic Benefit Cost for Domestic Defined Benefit Pension and Postretirement Benefit Plans

Net periodic benefit cost (credit) for Mattel's domestic defined benefit pension and postretirement benefit plans was calculated on January 1 of each year using the following assumptions:

			For the Year Ended
			December 31, 2023						December 31, 2022						December 31, 2021
Defined benefit pension plans:
Discount rate			4.9		%				2.5		%				2.2		%
Weighted-average rate of future compensation increases			N/A						N/A						N/A
Long-term rate of return on plan assets			5.0		%				5.0		%				5.0		%
Postretirement benefit plans:
Discount rate			4.9		%				2.5		%				2.2		%
Annual increase in Medicare Part B premium			6.0		%				6.0		%				6.0		%
Health care cost trend rate:
Pre-65			7.0		%				7.0		%				7.0		%
Post-65			7.0		%				7.0		%				6.8		%
Ultimate cost trend rate:
Pre-65			4.5		%				4.5		%				4.5		%
Post-65			4.5		%				4.5		%				4.5		%
Year that the rate reaches the ultimate cost trend rate:
Pre-65			2029						2028						2027
Post-65			2029						2028						2027

Schedule of Changes in Benefit Obligation and Plan Assets for Defined Benefit Pension and Postretirement Benefit Plans

A summary of the changes in benefit obligation and plan assets is as follows:

			Defined Benefit Pension Plans												Postretirement Benefit Plans
			December 31, 2023						December 31, 2022						December 31, 2023						December 31, 2022
			(In thousands)
Change in Benefit Obligation:
Benefit obligation, beginning of year			$	452,524					$	613,266					$	3,994					$	5,176
Service cost			3,371						4,010						1						2
Interest cost			20,966						12,081						179						89
Impact of currency exchange rate changes			4,921						(14,874)						—						—
Actuarial loss (gain)			13,879						(124,229)						85						(1,022)
Benefits paid			(35,634)						(36,943)						(174)						(251)
Plan amendments			895						—						—						—
Curtailments			167						(326)						—						—
Settlements			(338)						(359)						—						—
Other			(75)						(102)						—						—
Benefit obligation, end of year			$	460,676					$	452,524					$	4,085					$	3,994
Change in Plan Assets:
Plan assets at fair value, beginning of year			$	322,175					$	457,132					$	—					$	—
Actual return (loss) on plan assets			24,184						(91,470)						—						—
Employer contributions			13,354						5,029						174						251
Impact of currency exchange rate changes			3,670						(11,105)						—						—
Benefits paid			(35,634)						(36,943)						(174)						(251)
Settlements			(338)						(359)						—						—
Other			(75)						(109)						—						—
Plan assets at fair value, end of year			$	327,336					$	322,175					$	—					$	—
Net Amount Recognized in Consolidated Balance Sheets:
Funded status, end of year			$	(133,340)					$	(130,349)					$	(4,085)					$	(3,994)
Current accrued benefit liability			$	(5,960)					$	(5,109)					$	(530)					$	(630)
Noncurrent accrued benefit liability, net			(127,380)						(125,240)						(3,555)						(3,364)
Net amount recognized			$	(133,340)					$	(130,349)					$	(4,085)					$	(3,994)
Amounts Recognized in Accumulated Other Comprehensive Loss (a):
Net actuarial loss (gain)			$	214,070					$	213,166					$	(1,566)					$	(1,877)
Prior service cost (credit)			2,075						1,056						(4,035)						(6,073)
			$	216,145					$	214,222					$	(5,601)					$	(7,950)

(a)Amounts exclude related tax benefits of approximately $69 million and $68 million for December 31, 2023 and 2022, respectively, which are also included in accumulated other comprehensive loss.

Schedule of Accumulated and Projected Benefit Obligations

As of December 31, 2023 and 2022, information for defined benefit pension plans that had aggregate accumulated benefit obligations and projected benefit obligations in excess of plan assets is as follows:

			December 31, 2023						December 31, 2022
			(In thousands)
Projected benefit obligation			$	395,104					$	391,459
Accumulated benefit obligation			379,659						376,769
Fair value of plan assets			252,959						251,487

Schedule of Assumptions Used to Determine Projected and Accumulated Benefit Obligations of Domestic Defined Benefit Pension and Postretirement Benefit Plans

The assumptions used in determining the projected and accumulated benefit obligations of Mattel's domestic defined benefit pension and postretirement benefit plans are as follows:

			December 31, 2023						December 31, 2022
Defined benefit pension plans:
Discount rate			4.7		%				4.9		%
Cash balance interest crediting rate			4.0		%				4.0		%
Weighted-average rate of future compensation increases			N/A						N/A
Postretirement benefit plans:
Discount rate			4.7		%				4.9		%
Annual increase in Medicare Part B premium			6.0		%				6.0		%
Health care cost trend rate:
Pre-65			7.9		%				7.0		%
Post-65			8.1		%				7.0		%
Ultimate cost trend rate:
Pre-65			4.5		%				4.5		%
Post-65			4.5		%				4.5		%
Year that the rate reaches the ultimate cost trend rate:
Pre-65			2031						2029
Post-65			2031						2029

Schedule of Estimated Future Benefit Payments for Defined Benefit Pension and Postretirement Benefit Plans

The estimated future benefit payments for Mattel's defined benefit pension and postretirement benefit plans are as follows:

			Defined Benefit Pension Plans						Postretirement Benefit Plans
			(In thousands)
2024			$	36,773					$	530
2025			35,749						530
2026			35,063						430
2027			34,043						420
2028			34,534						320
2029 - 2033			172,194						1,210

Schedule of Plan Assets Measured and Reported in Financial Statements at Fair Value

Mattel's defined benefit pension plan assets are measured and reported in the consolidated financial statements at fair value using inputs, which are more fully described in "Note 11 to the Consolidated Financial Statements—Fair Value Measurements," as follows:

			December 31, 2023
			Level 1						Level 2						Level 3						Total
			(In thousands)
U.S. government and U.S. government agency securities			$	—					$	9,636					$	—					$	9,636
U.S. corporate debt instruments			—						63,707						—						63,707
International corporate debt instruments			—						3,291						—						3,291
Mutual funds (a)																					126,637
Money market funds			13,092						—						—						13,092
Other investments			—						4,180						—						4,180
Insurance "buy-in" policy			—						—						60,727						60,727
Collective trust funds (a):
U.S. equity securities																					562
International equity securities																					2,874
Global fixed income																					25,048
Real Estate																					17,582
Total			$	13,092					$	80,814					$	60,727					$	327,336

			December 31, 2022
			Level 1						Level 2						Level 3						Total
			(In thousands)
U.S. government and U.S. government agency securities			$	—					$	11,699					$	—					$	11,699
U.S. corporate debt instruments			—						47,637						—						47,637
International corporate debt instruments			—						17,338						—						17,338
Mutual funds (a)																					86,637
Money market funds			8,043						—						—						8,043
Other investments			—						7,563						—						7,563
Insurance "buy-in" policy			—						—						57,310						57,310
Collective trust funds (a):
U.S. equity securities																					37,915
International equity securities																					2,694
Global fixed income																					24,355
Diversified funds																					—
Real Estate																					20,984
Total			$	8,043					$	84,237					$	57,310					$	322,175

(a)    These investments primarily consist of privately placed funds that are valued based on net asset value per share. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheets and its related disclosures.

Schedule of Assets Measured at Fair Value on a Recurring Basis Using Unobservable Inputs

The following table provides a reconciliation of the beginning and ending balances of assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3):

			Level 3
			(in thousands)
Balance at December 31, 2021			$	30,731
Purchases, sales, and settlements			41,347
Changes in fair value			(14,768)
Balance at December 31, 2022			57,310
Purchases, sales, and settlements			(2,860)
Changes in fair value			6,277
Balance at December 31, 2023			$	60,727

X

- Definition

Tabular disclosure of assumptions used to determine projected and accumulated benefit obligations of defined benefit pension and postretirement benefit plans.

+ References

No definition available.

+ Details

Name:	mat_ScheduleOfAssumptionsUsedForBenefitObligationsTableTextBlock
Namespace Prefix:	mat_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the assumptions used to determine net periodic benefit cost for defined benefit pension and postretirement benefit plans.

+ References

No definition available.

+ Details

Name:	mat_ScheduleOfAssumptionsUsedForNetPeriodicBenefitCostTableTextBlock
Namespace Prefix:	mat_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the changes in benefit obligations and plan assets, as well as the net amounts recognized in the consolidated balance sheets and amounts recognized in accumulated other comprehensive loss.

+ References

No definition available.

+ Details

Name:	mat_ScheduleOfChangesInBenefitObligationsAndPlanAssetsTableTextBlock
Namespace Prefix:	mat_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of benefit obligations including accumulated benefit obligation and projected benefit obligation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (e)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfAccumulatedAndProjectedBenefitObligationsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (d)(5)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the costs related to the various types of retirement plans including defined benefit pension plan cost, defined contribution plan cost, other postretirement benefit plan cost, and net periodic benefit cost.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 20
-Topic 715
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfCostsOfRetirementPlansTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the changes in plan assets and benefit obligations recognized in other comprehensive income (loss) during the period.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfDefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the effect of fair value measurements using significant unobservable inputs (Level 3) on changes in plan assets of pension plans and/or other employee benefit plans for the period.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (f)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (h)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration