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Segment Information | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Segment Information | Segment Information Mattel designs, manufactures, and markets a broad variety of toy products worldwide, which are sold to its customers and directly to consumers. Segment Data Mattel's reportable segments are (i) North America and (ii) International. The North America and International segments sell products across Mattel's categories, although some products are developed and adapted for particular international markets, and American Girl products are sold only in North America. Mattel's reportable segments are aligned to the structure used by its Chief Executive Officer, who is also the Chief Operating Decision Maker ("CODM"), to allocate resources and assess performance. Mattel's CODM evaluates segment performance based on each segment's gross profit and operating income. The CODM also uses these metrics in the annual budgeting and quarterly forecasting process to inform decisions about allocating capital and other resources to each segment. The following tables present information regarding Mattel's statement of operations information by segment. The corporate and other category includes operating costs not allocated to individual segments, including charges related to incentive and share-based compensation, corporate headquarters functions managed on a worldwide basis, the impact of changes in foreign currency exchange rates on intercompany transactions, and certain severance and other restructuring costs. It is impracticable for Mattel to present net sales by categories, brands, or products, as trade discounts and other allowances are generally recorded in the financial accounting systems by customer.
| For the Three Months Ended March 31, 2025
| North America |  | International |  | Total Reportable Segments |  | Corporate and other |  | Consolidated
| (In thousands)
Net Sales | $ | 491,365 |  |  | $ | 335,264 |  |  | $ | 826,629 |  |  | $ | — |  |  | $ | 826,629 |
Cost of sales (a) | 256,293 |  |  | 175,522 |  |  | 431,815 |  |  | (13,282) |  |  | 418,533 |
Gross Profit | 235,072 |  |  | 159,742 |  |  | 394,814 |  |  | 13,282 |  |  | 408,096 |
Advertising and promotion expenses | 38,586 |  |  | 31,612 |  |  | 70,198 |  |  | — |  |  | 70,198 |
Other selling and administrative expenses (b) | 113,415 |  |  | 104,810 |  |  | 218,225 |  |  | 172,653 |  |  | 390,878 |
Operating Income (Loss) | 83,071 |  |  | 23,320 |  |  | 106,391 |  |  | (159,371) |  |  | (52,980) |
Interest expense |  |  |  |  |  |  | 29,234 |  |  | 29,234 |
Interest (income) |  |  |  |  |  |  | (15,952) |  |  | (15,952) |
Other non-operating expense, net |  |  |  |  |  |  | 13,040 |  |  | 13,040 |
Loss Before Income Taxes |  |  |  |  |  |  |  |  | $ | (79,302) |
(a)Cost of sales included severance and other restructuring charges of approximately $2 million recorded to corporate and other. (b)Other selling and administrative expenses included severance and other restructuring charges, the impact of inclined sleeper product recall litigation, incentive compensation, and share-based compensation of approximately $21 million, $14 million, $24 million, and $20 million, respectively, which were recorded in corporate and other.
| For the Three Months Ended March 31, 2024
| North America |  | International |  | Total Reportable Segments |  | Corporate and other |  | Consolidated
| (In thousands)
Net Sales | $ | 477,786 |  |  | $ | 331,722 |  |  | $ | 809,508 |  |  | $ | — |  |  | $ | 809,508 |
Cost of sales (a) | 257,144 |  |  | 184,080 |  |  | 441,224 |  |  | (20,586) |  |  | 420,638 |
Gross Profit | 220,642 |  |  | 147,642 |  |  | 368,284 |  |  | 20,586 |  |  | 388,870 |
Advertising and promotion expenses | 34,715 |  |  | 36,726 |  |  | 71,441 |  |  | — |  |  | 71,441 |
Other selling and administrative expenses (b) | 112,936 |  |  | 101,646 |  |  | 214,582 |  |  | 138,365 |  |  | 352,947 |
Operating Income (Loss) | 72,991 |  |  | 9,270 |  |  | 82,261 |  |  | (117,779) |  |  | (35,518) |
Interest expense |  |  |  |  |  |  | 30,059 |  |  | 30,059 |
Interest (income) |  |  |  |  |  |  | (17,282) |  |  | (17,282) |
Other non-operating expense, net |  |  |  |  |  |  | 5,613 |  |  | 5,613 |
Loss Before Income Taxes |  |  |  |  |  |  |  |  | $ | (53,908) |
(a)Cost of sales included severance and other restructuring charges of approximately $2 million recorded to corporate and other. (b)Other selling and administrative expenses included severance and other restructuring charges, the impact of inclined sleeper product recall litigation, incentive compensation, and share-based compensation of approximately $6 million, $4 million, $26 million, and $18 million, respectively, which were recorded in corporate and other. The following tables present information regarding depreciation and amortization by segment, as well as assets by segment.
| For the Three Months Ended
| March 31, 2025 |  | March 31, 2024
| (In thousands)
Depreciation and Amortization by Segment |  |  |
North America | $ | 22,873 |  |  | $ | 23,843 |
International | 13,860 |  |  | 13,698 |
| 36,733 |  |  | 37,541 |
Corporate and other | 5,052 |  |  | 4,795 |
Depreciation and amortization | $ | 41,785 |  |  | $ | 42,336 |
Segment assets were comprised of accounts receivable and inventories, net of applicable reserves and allowances.
| March 31, 2025 |  | March 31, 2024 |  | December 31, 2024
| (In thousands)
Assets by Segment |  |  |  |  |
North America | $ | 646,211 |  |  | $ | 686,694 |  |  | $ | 757,552 |
International | 519,192 |  |  | 566,572 |  |  | 651,738 |
| 1,165,403 |  |  | 1,253,266 |  |  | 1,409,290 |
Corporate and other | 126,327 |  |  | 89,339 |  |  | 95,620 |
Accounts receivable, net and inventories | $ | 1,291,730 |  |  | $ | 1,342,605 |  |  | $ | 1,504,910 |
Geographic Information The following table presents information regarding Mattel's net sales by geographic area. Net sales are attributed to countries based on the location of the customer:
| For the Three Months Ended
| March 31, 2025 |  | March 31, 2024
| (In thousands)
Net Sales by Geographic Area |  |  |
North America | $ | 491,365 |  |  | $ | 477,786 |
International |  |  |
EMEA | 197,105 |  |  | 185,239 |
Latin America | 64,601 |  |  | 79,651 |
Asia Pacific | 73,558 |  |  | 66,832 |
Total International | 335,264 |  |  | 331,722 |
Net sales | $ | 826,629 |  |  | $ | 809,508 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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