Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

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.

Schedule Of Segment Depreciation/Amortization

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

Schedule of Segment Assets

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

Schedule of Revenues by Geographic Area

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