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, 2025
	Derivative Instruments		Employee Benefit Plans		Currency Translation Adjustments		Total
	(In thousands)
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of December 31, 2024	$	14,307	$	(139,663)	$	(869,096)	$	(994,452)
Other comprehensive income (loss) before reclassifications	(9,223)		37		53,618		44,432
Amounts reclassified from accumulated other comprehensive income (loss)	2,185		1,248		—		3,433
Net change in other comprehensive income (loss)	(7,038)		1,285		53,618		47,865
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of March 31, 2025	$	7,269	$	(138,378)	$	(815,478)	$	(946,587)


	For the Three Months Ended March 31, 2024
	Derivative Instruments		Employee Benefit Plans		Currency 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 reclassifications	13,224		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)

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, 2025		March 31, 2024		Statements of Operations Classification
	(In thousands)
Derivative Instruments:
(Loss) gain on foreign currency forward exchange and other contracts	$	(2,188)	$	8,225	Cost of sales
Tax effect	3		16		Provision/benefit from income taxes
	$	(2,185)	$	8,241	Net income/loss
Employee Benefit Plans:
Amortization of prior service credit (a)	$	450	$	461	Other non-operating income/expense, net
Recognized actuarial loss (a)	(2,092)		(1,895)		Other non-operating income/expense, net

	(1,642)		(1,434)
Tax effect	394		729		Provision/benefit from income taxes
	$	(1,248)	$	(705)	Net income/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.

During the three months ended March 31, 2025, currency translation adjustments resulted in a net gain of $53.6 million, primarily due to the strengthening of the Russian ruble and British pound sterling against the U.S. dollar.