XML 32 R16.htm IDEA: XBRL DOCUMENT v3.25.0.1
Leases
 12 Months Ended
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 liabilities74,755 77,254 
Noncurrent lease liabilities278,174 259,548 
Total lease liabilities$352,929 $336,802 
Weighted-average remaining lease term6.4 years5.7 years
Weighted-average discount rate6.6 %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 liabilities97,809 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 
202583,531 
202652,535 
202739,876 
202835,550 
Thereafter133,715 
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.