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Leases | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Leases | Leases The following table summarizes Mattel's right-of-use assets and liabilities and other information about its leases:
| December 31, 2024 |  | December 31, 2023
| (In thousands, except years and percentage information)
Right-of-use assets, net | $ | 326,394 |  |  | $ | 313,191 |
Accrued liabilities | 74,755 |  |  | 77,254 |
Noncurrent lease liabilities | 278,174 |  |  | 259,548 |
Total lease liabilities | $ | 352,929 |  |  | $ | 336,802 |
Weighted-average remaining lease term | 6.4 years |  | 5.7 years
Weighted-average discount rate | 6.6 | % |  | 6.5 | %
Lease costs for the years ended December 31, 2024, 2023, and 2022 were as follows:
| For the Year Ended
| December 31, 2024 |  | December 31, 2023 |  | December 31, 2022
| (In thousands)
Lease costs (a) (b) | $ | 132,899 |  |  | $ | 127,850 |  |  | $ | 140,188 |
(a) Includes short-term and variable lease costs of approximately $34 million, $36 million, and $47 million for 2024, 2023, and 2022 respectively. Variable lease costs primarily relate to variable components of third-party logistics rental charges, common area maintenance charges, management fees, and taxes. (b) Contingent rental expense is recorded in the period in which the contingent event becomes probable. During 2024, 2023, and 2022, contingent rental expense was not material. Supplemental information related to leases were as follows:
| For the Year Ended
| December 31, 2024 |  | December 31, 2023 |  | December 31, 2022
| (In thousands)
Cash payments for leases | $ | 95,827 |  |  | $ | 98,453 |  |  | $ | 93,465 |
Right-of-use assets obtained in exchange for new and modified lease liabilities | 97,809 |  |  | 71,375 |  |  | 74,199 |
The following table shows the future maturities of lease liabilities for leases in effect as of December 31, 2024:
Years Ending December 31, |  | Lease Liabilities
|  | (In thousands)
2024 |  | $ | 93,265 |
2025 |  | 83,531 |
2026 |  | 52,535 |
2027 |  | 39,876 |
2028 |  | 35,550 |
Thereafter |  | 133,715 |
|  | 438,472 |
Less: imputed interest |  | (85,543) |
|  | $ | 352,929 |
Mattel has entered into noncancelable lease agreements for premises and equipment to be used in the normal course of business which had not yet commenced as of December 31, 2024. The future minimum obligations related to these agreements is $2.3 million.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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