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Accumulated Other Comprehensive Income (Loss)
 3 Months Ended
Mar. 31, 2024
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss)
The following tables present changes in the accumulated balances for each component of other comprehensive income (loss), including current period other comprehensive income (loss) and reclassifications from accumulated other comprehensive income (loss):
 For the Three Months Ended March 31, 2024
 Derivative
Instruments		Employee Benefit PlansCurrency
Translation
Adjustments		Total
 (In thousands)
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of December 31, 2023$(3,463)$(142,916)$(758,589)$(904,968)
Other comprehensive income (loss) before reclassifications13,224 1,493 (17,946)(3,229)
Amounts reclassified from accumulated other comprehensive income (loss)(8,241)705 — (7,536)
Net change in other comprehensive income (loss)4,983 2,198 (17,946)(10,765)
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of March 31, 2024$1,520 $(140,718)$(776,535)$(915,733)

 For the Three Months Ended March 31, 2023
 Derivative
Instruments		Employee Benefit PlansCurrency
Translation
Adjustments		Total
 (In thousands)
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of December 31, 2022$22,732 $(138,498)$(795,712)$(911,478)
Other comprehensive income (loss) before reclassifications(1,772)7 28,100 26,335 
Amounts reclassified from accumulated other comprehensive income (loss)(3,895)720 — (3,175)
Net change in other comprehensive income (loss)(5,667)727 28,100 23,160 
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of March 31, 2023$17,065 $(137,771)$(767,612)$(888,318)
The following table presents the classification and amount of the reclassifications from accumulated other comprehensive income (loss) to the consolidated statements of operations:
For the Three Months Ended
March 31, 2024March 31, 2023Statements of Operations
Classification
(In thousands) 
Derivative Instruments:
Gain on foreign currency forward exchange and other contracts$8,225 $3,603 Cost of sales
Tax effect16 292 Benefit from income taxes
$8,241 $3,895 Net loss
Employee Benefit Plans:
Amortization of prior service credit (a)$461 $472 Other non-operating income/expense, net
Recognized actuarial (loss) (a)(1,895)(1,408)Other non-operating income/expense, net
(1,434)(936)
Tax effect729 216 Benefit from income taxes
$(705)$(720)Net loss
(a)The amortization of prior service credit and recognized actuarial loss are included in the computation of net periodic benefit cost. Refer to "Note 15 to the Consolidated Financial Statements—Employee Benefit Plans" for additional information regarding Mattel's net periodic benefit cost.
Currency Translation Adjustments
During the three months ended March 31, 2024, currency translation adjustments resulted in a net loss of $17.9 million, due to the general strengthening of the U.S. dollar against most currencies, including the Chilean peso and Russian ruble. The losses were partially offset by strengthening of the Mexican peso against the U.S. dollar.
During the three months ended March 31, 2023, currency translation adjustments resulted in a net gain of $28.1 million, primarily due to the strengthening of the Mexican peso, British pound sterling, Chilean peso, and Brazilian real against the U.S. dollar, offset by the weakening of the Russian ruble against the U.S. dollar.