Segment Information (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2025
	North America		International		Total Reportable Segments		Corporate and other		Consolidated
	(In thousands)
Net Sales	$	978,091	$	757,881	$	1,735,972	$	—	$	1,735,972
Cost of sales (a)	487,483		375,809		863,292		4,428		867,720
Gross Profit	490,608		382,072		872,680		(4,428)		868,252
Advertising and promotion expenses	55,263		62,874		118,137		—		118,137
Other selling and administrative expenses (b)	120,147		110,590		230,737		139,529		370,266
Operating Income	315,198		208,608		523,806		(143,957)		379,849
Interest expense							29,416		29,416
Interest (income)							(9,027)		(9,027)
Other non-operating expense, net							965		965
Income Before Income Taxes									$	358,495

(a)Cost of sales included severance and other restructuring charges of approximately $2 million which was allocated to the North America and International segments.

(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 $1 million, $5 million, $8 million, and $22 million, respectively, which were recorded in corporate and other.


	For the Nine Months Ended September 30, 2025
	North America		International		Total Reportable Segments		Corporate and other		Consolidated
	(In thousands)
Net Sales	$	1,980,252	$	1,600,911	$	3,581,163	$	—	$	3,581,163
Cost of sales (a)	1,009,492		796,365		1,805,857		(19,993)		1,785,864
Gross Profit	970,760		804,546		1,775,306		19,993		1,795,299
Advertising and promotion expenses	128,791		138,668		267,459		—		267,459
Other selling and administrative expenses (b)	349,888		319,020		668,908		453,564		1,122,472
Operating Income	492,081		346,858		838,939		(433,571)		405,368
Interest expense							88,004		88,004
Interest (income)							(37,344)		(37,344)
Other non-operating expense, net							12,588		12,588
Income Before Income Taxes									$	342,120

(a)Cost of sales included severance and other restructuring charges of approximately $6 million which was allocated to the North America and International segments.

(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 $24 million, $24 million, $51 million, and $61 million, respectively, which were recorded in corporate and other.


	For the Three Months Ended September 30, 2024
	North America		International		Total Reportable Segments		Corporate and other		Consolidated
	(In thousands)
Net Sales	$	1,108,288	$	735,616	$	1,843,904	$	—	$	1,843,904
Cost of sales (a)	534,821		355,598		890,419		(25,511)		864,908
Gross Profit	573,467		380,018		953,485		25,511		978,996
Advertising and promotion expenses	44,490		60,466		104,956		—		104,956
Other selling and administrative expenses (b)	116,552		101,877		218,429		167,270		385,699
Operating Income	412,425		217,675		630,100		(141,759)		488,341
Interest expense							29,371		29,371
Interest (income)							(9,787)		(9,787)
Other non-operating (income), net							(2,924)		(2,924)
Income Before Income Taxes									$	471,681

(a)Cost of sales included severance and other restructuring charges of approximately $1 million which was allocated to the North America and International segments.

(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 $27 million, $(12) million, $41 million, and $20 million, respectively, which were recorded in corporate and other.


	For the Nine Months Ended September 30, 2024
	North America		International		Total Reportable Segments		Corporate and other		Consolidated
	(In thousands)
Net Sales	$	2,192,555	$	1,540,586	$	3,733,141	$	—	$	3,733,141
Cost of sales (a)	1,111,739		787,534		1,899,273		(64,734)		1,834,539
Gross Profit	1,080,816		753,052		1,833,868		64,734		1,898,602
Advertising and promotion expenses	111,182		138,935		250,117		—		250,117
Other selling and administrative expenses (b)	347,292		309,860		657,152		455,303		1,112,455
Operating Income	622,342		304,257		926,599		(390,569)		536,030
Interest expense							89,415		89,415
Interest (income)							(39,466)		(39,466)
Other non-operating expense, net							8,796		8,796
Income Before Income Taxes									$	477,285

(a)Cost of sales included severance and other restructuring charges of approximately $3 million which was allocated to the North America and International segments.

(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 $44 million, $(6) million, $94 million, and $57 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				For the Nine Months Ended
	September 30, 2025		September 30, 2024		September 30, 2025		September 30, 2024
	(In thousands)				(In thousands)
Depreciation and Amortization by Segment
North America	$	22,797	$	22,873	$	68,920	$	70,257
International	13,916		13,199		42,026		40,698
	36,713		36,072		110,946		110,955
Corporate and other	4,869		4,828		15,008		14,230
Depreciation and amortization	$	41,582	$	40,900	$	125,954	$	125,185

Schedule of Segment Assets

Segment assets were comprised of accounts receivable and inventories, net of applicable reserves and allowances.


	September 30, 2025		September 30, 2024		December 31, 2024
	(In thousands)
Assets by Segment
North America	$	1,166,907	$	1,160,846	$	757,552
International	957,990		952,726		651,738
	2,124,897		2,113,572		1,409,290
Corporate and other	91,985		100,974		95,620
Accounts receivable, net and inventories	$	2,216,882	$	2,214,546	$	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				For the Nine Months Ended
	September 30, 2025		September 30, 2024		September 30, 2025		September 30, 2024
	(In thousands)
Net Sales by Geographic Area
North America	$	978,091	$	1,108,288	$	1,980,252	$	2,192,555
International
EMEA	424,037		401,942		898,612		837,869
Latin America	230,339		240,563		423,551		454,811
Asia Pacific	103,505		93,111		278,748		247,906
Total International	757,881		735,616		1,600,911		1,540,586
Net sales	$	1,735,972	$	1,843,904	$	3,581,163	$	3,733,141

MATTEL INC /DE/ 10-Q