th<\/sup> anniversary year, we look forward to growing both top and bottom line and continuing to successfully execute our multi-year strategy.\u201d<\/p>\n\nAnthony DiSilvestro, CFO of Mattel, added: \u201cWe had a strong fourth quarter with both sales growth and margin expansion. We continued to strengthen our balance sheet, repurchased $400 million of shares in 2024, further improved our leverage ratio, and are tracking ahead of schedule to achieve our $200 million cost savings target by the end of 2026. Mattel\u2019s 2025 guidance includes our expectation to grow top and bottom line, increase investments in digital games, and repurchase $600 million of shares. We are well positioned to continue to create long-term shareholder value.\u201d\u00a0<\/p>\n
Financial Overview<\/b><\/p>\n
\nFor the fourth quarter, Net Sales were up 2% as reported, or 3% in constant currency, versus the prior year\u2019s fourth quarter. Reported Operating Income was $158 million, an improvement of $18 million, and Adjusted Operating Income was $161 million, an increase of $14 million. Reported Earnings Per Share were comparable at $0.42 per share, and Adjusted Earnings Per Share were $0.35, an increase of $0.06 per share.<\/p>\n
\nFor the full year, Net Sales declined 1% as reported and 0.5% in constant currency, versus the prior year. Reported Operating Income was $694 million, an improvement of $133 million, and Adjusted Operating Income was $738 million, an improvement of $97 million. Reported Earnings Per Share were $1.58, an improvement of $0.98 per share, and Adjusted Earnings Per Share were $1.62, an improvement of $0.39 per share.<\/p>\n
Fourth Quarter 2024<\/span><\/p>\nNorth America<\/i><\/p>\n
\nNet Sales in the North America segment increased 1% as reported and in constant currency.<\/p>\n
\nGross Billings in the North America segment increased 1% as reported and in constant currency, due to growth in Vehicles (primarily Hot Wheels), and Action Figures, Building Sets, Games, and Other (primarily Action Figures), partly offset by declines in Infant, Toddler, and Preschool (primarily Baby Gear & Power Wheels) and Dolls (primarily Barbie).<\/p>\n
International<\/i><\/p>\n
\nNet Sales in the International segment increased 3% as reported, or 6% in constant currency.<\/p>\n
\nGross Billings in the International segment increased 3% as reported, or 6% in constant currency, due to growth in Vehicles (primarily Hot Wheels) and Infant, Toddler, and Preschool, partly offset by declines in Dolls (primarily Barbie).<\/p>\n
Gross Margin<\/i><\/p>\n
\nReported Gross Margin increased to 50.7%, versus 48.8% in the prior year\u2019s fourth quarter, and Adjusted Gross Margin increased to 50.8%, versus 48.8%. The increase in Gross Margin was primarily driven by savings from the Optimizing for Profitable Growth program, lower inventory management costs, supply chain efficiencies, and foreign exchange favorability, partly offset by benefits related to the Barbie movie in the prior year.<\/p>\n
Other Selling and Administrative Expenses<\/i><\/p>\n
\nReported Other Selling and Administrative Expenses increased $4 million to $420 million, primarily due to higher employee compensation, partly offset by savings from the Optimizing for Profitable Growth program. Adjusted Other Selling and Administrative Expenses increased $9 million to $418 million, primarily due to the same factors.<\/p>\n
Full Year 2024<\/span><\/p>\nNorth America<\/i><\/p>\n
\nNet Sales in the North America segment decreased 1% as reported and in constant currency.<\/p>\n
\nGross Billings in the North America segment decreased 1% as reported and in constant currency, due to declines in Dolls (primarily Barbie), and Infant, Toddler, and Preschool (primarily Baby Gear & Power Wheels), partly offset by growth in Vehicles (primarily Hot Wheels), and Action Figures, Building Sets, Games, and Other (primarily Action Figures and Games).<\/p>\n
International<\/i><\/p>\n
\nNet Sales in the International segment decreased 1% as reported, and increased 1% in constant currency.<\/p>\n
\nGross Billings in the International segment decreased 1% as reported, and were comparable in constant currency, due to declines in Dolls (primarily Barbie), Infant, Toddler, and Preschool (primarily Baby Gear & Power Wheels), and Action Figures, Building Sets, Games, and Other (primarily Action Figures), partly offset by growth in Vehicles (primarily Hot Wheels).<\/p>\n
Gross Margin<\/i><\/p>\n
\nReported Gross Margin increased to 50.8%, versus 47.5% in the prior year, and Adjusted Gross Margin increased to 50.9%, versus 47.5%. The increase in Gross Margin was primarily driven by supply chain efficiencies, savings from the Optimizing for Profitable Growth program, and cost deflation, partly offset by benefits related to the Barbie movie in the prior year.<\/p>\n
Other Selling and Administrative Expenses<\/i><\/p>\n
\nReported Other Selling and Administrative Expenses increased $35 million to $1,532 million, primarily due to higher employee compensation, partly offset by savings from the Optimizing for Profitable Growth program. Adjusted Other Selling and Administrative Expenses increased $76 million to $1,493 million, primarily due to the same factors.<\/p>\n
Cash Flow<\/i><\/p>\n
\nFor the year ended December 31, 2024, Cash Flows Provided by Operating Activities were $801 million, a decline of $69 million, primarily driven by higher working capital requirements, partially offset by higher net earnings.<\/p>\n
\nCash Flows Used for Investing Activities were $189 million, an increase of $47 million, primarily due to higher capital expenditures, including the acquisition of a new global design center to replace our current leased facility.<\/p>\n
\nCash Flows Used for Financing Activities and Other were $485 million, an increase of $258 million, primarily due to $197 million of higher share repurchases in 2024.<\/p>\n
Gross Billings by Categories<\/b><\/p>\n
Fourth Quarter 2024<\/span><\/p>\n\nWorldwide Gross Billings for Dolls were $735 million, down 4% as reported and 3% in constant currency, versus the prior year\u2019s fourth quarter, primarily due to declines in Barbie.<\/p>\n
\nWorldwide Gross Billings for Infant, Toddler, and Preschool were $276 million, down 5% as reported, and 4% in constant currency, primarily due to declines in Baby Gear & Power Wheels.<\/p>\n
\nWorldwide Gross Billings for Vehicles were $544 million, up 14% as reported, and 16% in constant currency, primarily driven by growth in Hot Wheels.<\/p>\n
\nWorldwide Gross Billings for Action Figures, Building Sets, Games, and Other were $327 million, up 5% as reported, and 6% in constant currency, primarily driven by growth in Action Figures and Games, partly offset by declines in Building Sets and Other.<\/p>\n
Full Year 2024<\/span><\/p>\n\nWorldwide Gross Billings for Dolls were $2,200 million, down 8% as reported and in constant currency, primarily due to declines in Barbie.<\/p>\n
\nWorldwide Gross Billings for Infant, Toddler, and Preschool were $951 million, down 5% as reported, and 4% in constant currency, primarily due to declines in Baby Gear & Power Wheels.<\/p>\n
\nWorldwide Gross Billings for Vehicles were $1,791 million, up 9% as reported, and 10% in constant currency, primarily driven by growth in Hot Wheels.<\/p>\n
\nWorldwide Gross Billings for Action Figures, Building Sets, Games, and Other were $1,090 million, up 2% as reported, and 3% in constant currency, primarily driven by growth in Games and Action Figures, partly offset by declines in Building Sets and Other.<\/p>\n
2025 Guidance<\/b><\/p>\n
\nMattel\u2019s full year 2025 guidance is:<\/p>\n
\n\n(in millions,
except EPS and percentages)<\/b><\/td>\n | | \nFY2025 Guidance<\/b><\/td>\n | | \nFY2024 Actual<\/b><\/td>\n<\/tr>\n\n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Net Sales (Constant Currency)<\/td>\n | | \n+2% to 3%<\/td>\n | | \n\n \n$5,380<\/p>\n<\/td>\n<\/tr>\n | \n| Adjusted Gross Margin<\/td>\n | | \nComparable<\/td>\n | | \n\n \n50.9%<\/p>\n<\/td>\n<\/tr>\n | \n| Adjusted Operating Income<\/td>\n | | \n$740 – $765<\/td>\n | | \n\n \n$738<\/p>\n<\/td>\n<\/tr>\n | \n| Adjusted Tax Rate<\/td>\n | | \n23% – 24%<\/td>\n | | \n\n \n21%<\/p>\n<\/td>\n<\/tr>\n | \n| Adjusted EPS<\/td>\n | | \n$1.66 – $1.72<\/td>\n | | \n\n \n$1.62<\/p>\n<\/td>\n<\/tr>\n | \n| Free Cash Flow<\/td>\n | | \nApprox. $600<\/td>\n | | \n\n \n$598<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nGuidance includes the anticipated impact of new U.S. tariffs on China, Mexico and Canada imports announced on February 1st, and mitigating actions we plan to take, including leveraging the strength of our supply chain, and potential pricing.<\/p>\n \nA reconciliation of Mattel\u2019s non-GAAP financial measures on a forward-looking basis, including Net Sales on a constant currency basis, Adjusted Gross Margin, Adjusted Operating Income, Adjusted Tax Rate, Adjusted EPS, and Free Cash Flow is not available without unreasonable effort. Mattel is unable to predict with sufficient certainty items that would be excluded from the corresponding GAAP measures, including the effect of foreign currency exchange rate fluctuations, unusual gains and losses or charges, and severance and restructuring charges, due to the unpredictable nature of such items, which may have a significant impact on Mattel\u2019s GAAP measures.<\/p>\n \nWe are operating in a macro-economic environment that may impact consumer demand. The guidance considers what the company is aware of today, but remains subject to market volatility, unexpected disruptions including additional regulatory actions impacting international trade such as tariffs, and other macroeconomic risks and uncertainties.<\/p>\n Conference Call and Live Webcast<\/b><\/p>\n \nAt 5:00 p.m. (Eastern Standard Time) today, Mattel will host a conference call with investors and financial analysts to discuss its latest financial results. The conference call will be webcast on Mattel’s Investor Relations website, https:\/\/investors.mattel.com<\/a>. To listen to the live call, log on to the website at least 10 minutes early to register, download, and install any necessary audio software. An archive of the webcast will be available on Mattel’s Investor Relations website for 12 months and may be accessed beginning approximately three hours after the completion of the live call.<\/p>\nCautionary Note Regarding Forward-Looking Statements<\/b><\/p>\n \nMattel cautions the reader that this press release contains a number of forward-looking statements, which are statements that relate to the future and are, by their nature, uncertain. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and include statements regarding Mattel\u2019s guidance and goals for future periods and other future events. The use of words such as \u201canticipates,\u201d \u201cexpects,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cprojects,\u201d \u201clooks forward,\u201d \u201cconfident that,\u201d \u201cbelieves,\u201d and \u201ctargeted,\u201d among others, generally identify forward-looking statements. These forward-looking statements are based on currently available operating, financial, economic, and other information and assumptions, and are subject to a number of significant risks and uncertainties. A variety of factors or combination of factors, many of which are beyond Mattel\u2019s control, may cause actual future results or outcomes, or the timing of those results or outcomes, to differ materially from those contained in any forward-looking statements. Specific factors that might cause such a difference include, but are not limited to: (i) Mattel\u2019s ability to design, develop, produce, manufacture, source, ship, and distribute products in a timely and cost-effective manner; (ii) sufficient interest in and demand for the products and entertainment Mattel offers by retail customers and consumers to profitably recover Mattel\u2019s costs; (iii) downturns in economic conditions affecting Mattel\u2019s markets which can negatively impact retail customers and consumers, and which can result in lower employment levels and lower consumer disposable income and spending, including lower spending on purchases of Mattel\u2019s products; (iv) other factors which can lower discretionary consumer spending, such as higher costs for fuel and food, drops in the value of homes or other consumer assets, and high levels of consumer debt; (v) potential difficulties or delays Mattel may experience in implementing cost savings and efficiency enhancing initiatives; (vi) other economic and public health conditions or regulatory changes in the markets in which Mattel and its customers and suppliers operate, which could create delays or increase Mattel\u2019s costs, such as higher commodity prices, labor costs, transportation costs, trade restrictions, or outbreaks of disease; (vii) the effect of inflation on Mattel\u2019s business, including cost inflation in supply chain inputs and increased labor costs, as well as pricing actions taken in an effort to mitigate the effects of inflation; (viii) currency fluctuations, including movements in foreign exchange rates, which can lower Mattel\u2019s net revenues and earnings, and significantly impact Mattel\u2019s costs; (ix) the concentration of Mattel\u2019s customers, potentially increasing the negative impact to Mattel of difficulties experienced by any of Mattel\u2019s customers, such as bankruptcies or liquidations or a general lack of success, or changes in their purchasing or selling patterns; (x) the inventory policies of Mattel\u2019s retail customers, as well as the concentration of Mattel\u2019s revenues in the second half of the year, which coupled with reliance by retailers on quick response inventory management techniques, increases the risk of underproduction, overproduction, and shipping delays; (xi) legal, reputational, and financial risks related to security breaches or cyberattacks; (xii) work disruptions, including as a result of supply chain disruption such as plant or port closures, which may impact Mattel\u2019s ability to manufacture or deliver product in a timely and cost-effective manner; (xiii) the impact of competition on revenues, margins, and other aspects of Mattel\u2019s business, including the ability to offer products that consumers choose to buy instead of competitive products, the ability to secure, maintain, and renew popular licenses from licensors of entertainment properties, and the ability to attract and retain talented employees and adapt to evolving workplace models; (xiv) the risk of product recalls or product liability suits and costs associated with product safety regulations; (xv) tariffs, which depending on the effective date and duration of such tariffs, changes in the amount, scope, and nature of the tariffs in the future, any countermeasures that the target countries may take, and any mitigating actions that may become available, could increase Mattel\u2019s product costs and other costs of doing business, and other changes in laws or regulations in the United States and\/or in other major markets, such as China, in which Mattel operates, including, without limitation, with respect to taxes, trade policies, product safety, or sustainability, which may also increase Mattel\u2019s product costs and other costs of doing business, and in each case reduce Mattel\u2019s earnings and liquidity; (xvi) business disruptions or other unforeseen impacts due to economic instability, political instability, civil unrest, armed hostilities (including the impact of the war in Ukraine and geopolitical developments in the Middle East) or terrorist activities, natural and man-made disasters, pandemics or other public health crises, or other catastrophic events; (xvii) failure to realize the planned benefits from any investments or acquisitions made by Mattel; (xviii) the impact of other market conditions or third-party actions or approvals, including those that result in any significant failure, inadequacy, or interruption from vendors or outsourcers, which could reduce demand for Mattel\u2019s products, delay or increase the cost of implementation of Mattel\u2019s programs, or alter Mattel\u2019s actions and reduce actual results; (xix) changes in financing markets or the inability of Mattel to obtain financing on attractive terms; (xx) the impact of litigation, arbitration, or regulatory decisions or settlement actions; (xxi) Mattel\u2019s ability to navigate regulatory frameworks in connection with new areas of investment, product development, or other business activities, such as artificial intelligence, non-fungible tokens, and cryptocurrency; (xxii) an inability to remediate the material weakness in Mattel’s internal control over financial reporting, or additional material weaknesses or other deficiencies in the future or the failure to maintain an effective system of internal control; and (xxiii) other risks and uncertainties as may be described in Mattel\u2019s filings with the Securities and Exchange Commission, including the \u201cRisk Factors\u201d section of Mattel\u2019s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and subsequent periodic filings, as well as in Mattel\u2019s other public statements. Mattel does not update forward-looking statements and expressly disclaims any obligation to do so, except as required by law.<\/p>\n Presentation Information \/ Non-GAAP Financial Measures<\/b><\/p>\n \nThe financial results included herein represent the most current information available to management and are preliminary until Mattel\u2019s Form 10-Q is filed with the SEC. Actual results may differ from these preliminary results.<\/p>\n \nTo supplement our financial results presented in accordance with generally accepted accounting principles in the United States (\u201cGAAP\u201d), Mattel presents certain non-GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission. The non-GAAP financial measures that Mattel uses in this earnings release include Adjusted Gross Profit, Adjusted Gross Margin, Adjusted Other Selling and Administrative Expenses, Adjusted Operating Income, Adjusted Operating Income Margin, Adjusted Earnings Per Share, earnings before interest expense, taxes, depreciation and amortization (\u201cEBITDA\u201d), Adjusted EBITDA, Free Cash Flow, Free Cash Flow Conversion (Free Cash Flow \/ Adjusted EBITDA), Leverage Ratio (Total Debt \/ Adjusted EBITDA), Net Debt, Adjusted Tax Rate, and constant currency. Mattel uses these measures to analyze its continuing operations and to monitor, assess, and identify meaningful trends in its operating and financial performance, and each is discussed below. Mattel believes that the disclosure of non-GAAP financial measures provides useful supplemental information to investors to be able to better evaluate ongoing business performance and certain components of Mattel\u2019s results. These measures are not, and should not be viewed as, substitutes for GAAP financial measures and may not be comparable to similarly titled measures used by other companies. Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures are attached to this earnings release as exhibits and to our earnings slide presentation as an appendix.<\/p>\n \nThis earnings release and our earnings slide presentation are available on Mattel’s Investor Relations website, https:\/\/investors.mattel.com\/<\/a>, under the subheading \u201cFinancial Information \u2013 Quarterly Earnings.\u201d<\/p>\nAdjusted Gross Profit and Adjusted Gross Margin<\/i><\/p>\n \nAdjusted Gross Profit and Adjusted Gross Margin represent reported Gross Profit and reported Gross Margin, respectively, adjusted to exclude severance and restructuring expenses. Adjusted Gross Margin represents Mattel\u2019s Adjusted Gross Profit, as a percentage of Net Sales. Adjusted Gross Profit and Adjusted Gross Margin are presented to provide additional perspective on underlying trends in Mattel\u2019s core Gross Profit and Gross Margin, which Mattel believes is useful supplemental information for investors to be able to gauge and compare Mattel\u2019s current business performance from one period to another.<\/p>\n Adjusted Other Selling and Administrative Expenses<\/i><\/p>\n \nAdjusted Other Selling and Administrative Expenses represents Mattel\u2019s reported Other Selling and Administrative Expenses, adjusted to exclude severance and restructuring expenses, the impact of the inclined sleeper product recalls, and the impact of sale of assets, which are not part of Mattel\u2019s core business. Adjusted Other Selling and Administrative Expenses is presented to provide additional perspective on underlying trends in Mattel\u2019s core other selling and administrative expenses, which Mattel believes is useful supplemental information for investors to be able to gauge and compare Mattel\u2019s current business performance from one period to another.<\/p>\n Adjusted Operating Income and Adjusted Operating Income Margin<\/i><\/p>\n \nAdjusted Operating Income and Adjusted Operating Income Margin represent reported Operating Income and reported Operating Income Margin, respectively, adjusted to exclude severance and restructuring expenses, the impact of the inclined sleeper product recalls, and the impact of sale of assets, which are not part of Mattel\u2019s core business. Adjusted Operating Income Margin represents Mattel\u2019s Adjusted Operating Income, as a percentage of Net Sales. Adjusted Operating Income and Adjusted Operating Income Margin are presented to provide additional perspective on underlying trends in Mattel\u2019s core operating results, which Mattel believes is useful supplemental information for investors to be able to gauge and compare Mattel\u2019s current business performance from one period to another.<\/p>\n Adjusted Earnings Per Share<\/i><\/p>\n \nAdjusted Earnings Per Share represents Mattel\u2019s reported Diluted Earnings Per Common Share, adjusted to exclude severance and restructuring expenses, the impact of the inclined sleeper product recalls, the impact of sale of assets, the impact of changes to certain deferred tax assets and related valuation allowances, which are not part of Mattel\u2019s core business. The aggregate tax effect of the adjustments was determined using the effective tax rates on a jurisdictional basis of the respective adjustments and dividing by the reported weighted-average number of common shares. Adjusted Earnings Per Share is presented to provide additional perspective on underlying trends in Mattel\u2019s core business. Mattel believes it is useful supplemental information for investors to gauge and compare Mattel\u2019s current earnings results from one period to another. Adjusted Earnings Per Share is a performance measure and should not be used as a measure of liquidity.<\/p>\n EBITDA and Adjusted EBITDA<\/i><\/p>\n \nEBITDA represents Mattel\u2019s Net Income, adjusted to exclude the impact of interest expense, taxes, depreciation, and amortization. Adjusted EBITDA represents EBITDA adjusted to exclude share-based compensation, severance and restructuring expenses, the impact of the inclined sleeper product recalls, and the impact of sale of assets, which are not part of Mattel\u2019s core business. Mattel believes EBITDA and Adjusted EBITDA are useful supplemental information for investors to gauge and compare Mattel\u2019s business performance to other companies in its industry with similar capital structures. The presentation of Adjusted EBITDA differs from how Mattel calculates EBITDA for purposes of covenant compliance under the indentures governing its high yield senior notes and the revolving credit agreement governing its revolving credit facility. Because of these limitations, EBITDA and Adjusted EBITDA should not be considered as measures of discretionary cash available to invest in the growth of Mattel\u2019s business. As a result, Mattel relies primarily on its GAAP results and uses EBITDA and Adjusted EBITDA only supplementally.<\/p>\n Free Cash Flow and Free Cash Flow Conversion<\/i><\/p>\n \nFree Cash Flow represents Mattel\u2019s net cash flows from for operating activities less capital expenditures. Free Cash Flow Conversion represents Mattel\u2019s free cash flow divided by Adjusted EBITDA. Mattel believes Free Cash Flow and Free Cash Flow Conversion are useful supplemental information for investors to gauge Mattel\u2019s liquidity and performance and to compare Mattel\u2019s business performance to other companies in our industry. Free Cash Flow does not represent cash available to Mattel for discretionary expenditures.<\/p>\n Leverage Ratio (Total Debt \/ Adjusted EBITDA)<\/i><\/p>\n \nThe leverage ratio is calculated by dividing Total Debt by Adjusted EBITDA. Total Debt represents the aggregate of Mattel\u2019s current portion of long-term debt, short-term borrowings, and long-term debt, excluding the impact of debt issuance costs and debt discount. Mattel believes the leverage ratio is useful supplemental information for investors to gauge trends in Mattel\u2019s business and to compare Mattel\u2019s business performance to other companies in its industry.<\/p>\n Net Debt<\/i><\/p>\n \nNet Debt represents the aggregate of Mattel\u2019s current portion of long-term debt, short-term borrowings, and long-term debt, less cash and equivalents. Mattel believes Net Debt is useful supplemental information for investors to monitor Mattel\u2019s liquidity and evaluate its balance sheet.<\/p>\n Adjusted Tax Rate<\/i><\/p>\n \nThe Adjusted Tax Rate is calculated by dividing Adjusted Provision for Income Taxes by Adjusted Income Before Income Taxes. Adjusted Income Before Income Taxes represents reported Income Before Income Taxes, adjusted to exclude severance and restructuring expenses, the impact of inclined sleeper product recalls, and the impact of sale of assets. The Adjusted Provision for Income Taxes represents reported Provision for Income Taxes, adjusted to exclude the impact of changes to certain deferred tax assets and related valuation allowances and the aggregate tax effect of adjustments. Mattel believes the adjusted tax rate provides useful supplemental information for investors to gauge and compare the impact of tax expense on Mattel’s earnings results from one period to another.<\/p>\n Constant Currency<\/i><\/p>\n \nPercentage changes in results expressed in constant currency are presented excluding the impact from changes in currency exchange rates. To present this information, Mattel calculates constant currency information by translating current period and prior period results for entities reporting in currencies other than the US dollar using consistent exchange rates. The constant currency exchange rates are determined by Mattel at the beginning of each year and are applied consistently during the year. They are generally different from the actual exchange rates in effect during the current or prior period due to volatility in actual foreign exchange rates. Mattel considers whether any changes to the constant currency rates are appropriate at the beginning of each year. The exchange rates used for these constant currency calculations are generally based on prior year actual exchange rates. The difference between the current period and prior period results using the consistent exchange rates reflects the changes in the underlying performance results, excluding the impact from changes in currency exchange rates. Mattel analyzes constant currency results to provide additional perspective on changes in underlying trends in Mattel\u2019s operating performance. Mattel believes that the disclosure of the percentage change in constant currency is useful supplemental information for investors to be able to gauge Mattel\u2019s current business performance and the longer-term strength of its overall business since foreign currency changes could potentially mask underlying sales trends. The disclosure of the percentage change in constant currency enhances investor\u2019s ability to compare financial results from one period to another.<\/p>\n Key Performance Indicator<\/b><\/p>\n Gross Billings<\/i><\/p>\n \nGross Billings represent amounts invoiced to customers. It does not include the impact of sales adjustments, such as trade discounts and other allowances. Mattel presents changes in gross billings as a metric for comparing its aggregate, categorical, brand, and geographic results to highlight significant trends in Mattel\u2019s business. Changes in Gross Billings are discussed because, while Mattel records the details of sales adjustments in its financial accounting systems at the time of sale, such sales adjustments are generally not associated with categories, brands, and individual products.<\/p>\n About Mattel<\/b><\/p>\n \nMattel is a leading global toy and family entertainment company and owner of one of the most iconic brand portfolios in the world. We engage consumers and fans through our franchise brands, including Barbie\u00ae, Hot Wheels\u00ae, Fisher-Price\u00ae, American Girl\u00ae, Thomas & Friends\u2122, UNO\u00ae, Masters of the Universe\u00ae, Matchbox\u00ae, Monster High\u00ae, MEGA\u00ae and Polly Pocket\u00ae, as well as other popular properties that we own or license in partnership with global entertainment companies. Our offerings include toys, content, consumer products, digital and live experiences. Our products are sold in collaboration with the world\u2019s leading retail and ecommerce companies. Since its founding in 1945, Mattel is proud to be a trusted partner in empowering generations to explore the wonder of childhood and reach their full potential. Visit us at mattel.com<\/a>.<\/p>\n\nMAT-FIN MAT-CORP<\/p>\n \n\n| MATTEL, INC. AND SUBSIDIARIES<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\n EXHIBIT I<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \nCONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)1<\/sup><\/b><\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \nFor the Three Months Ended December 31,<\/b><\/td>\n | | \nFor the Year Ended December 31,<\/b><\/td>\n<\/tr>\n\n| (In millions, except per share and percentage information)<\/span><\/b><\/td>\n | \n 2024<\/b><\/p>\n<\/td>\n | | \n\n 2023<\/b><\/p>\n<\/td>\n | | \n\n % Change
\n
as
\n
Reported<\/b><\/p>\n<\/td>\n | | \n\n % Change
\n
in
\n
Constant
\n
Currency<\/b><\/p>\n<\/td>\n | | \n\n 2024<\/b><\/p>\n<\/td>\n | | \n\n 2023<\/b><\/p>\n<\/td>\n | | \n\n % Change
\n
as
\n
Reported<\/b><\/p>\n<\/td>\n | | \n\n % Change
\n
in
\n
Constant
\n
Currency<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n $ Amt<\/b><\/p>\n<\/td>\n | | \n\n % Net
\n
Sales<\/b><\/p>\n<\/td>\n | | \n\n $ Amt<\/b><\/p>\n<\/td>\n | | \n\n % Net
\n
Sales<\/b><\/p>\n<\/td>\n | | \n\n $ Amt<\/b><\/p>\n<\/td>\n | | \n\n % Net
\n
Sales<\/b><\/p>\n<\/td>\n | | \n\n $ Amt<\/b><\/p>\n<\/td>\n | | \n\n % Net
\n
Sales<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Net Sales<\/b><\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n1,646.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n$<\/p>\n<\/td>\n | \n \n1,620.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n3<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n5,379.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n$<\/p>\n<\/td>\n | \n \n5,441.2<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n-1<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n-1<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| Cost of Sales<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n810.9<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n49.3<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n830.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n51.2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n-2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,645.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n49.2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,857.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n52.5<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n-7<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Gross Profit<\/b><\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n835.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n50.7<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n790.2<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n48.8<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n7<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,734.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n50.8<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,583.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n47.5<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| Advertising and Promotion Expenses<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n257.2<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n15.6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n234.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n14.5<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n10<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n507.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n9.4<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n524.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n9.6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n-3<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Other Selling and Administrative Expenses<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n420.0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n25.5<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n415.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n25.6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n1<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,532.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n28.5<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,497.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n27.5<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Operating Income<\/b><\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n158.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n9.6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n140.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n8.6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n13<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n12<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n694.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n12.9<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n561.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n10.3<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n24<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n27<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| Interest Expense<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n29.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n1.8<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n31.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n1.9<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n-6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n118.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n2.2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n123.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n2.3<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n-4<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Interest (Income)<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(12.0<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n-0.7<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(9.8<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n-0.6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n22<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(51.5<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n-1.0<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(25.2<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n-0.5<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n104<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Other Non-Operating (Income) Expense, Net<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(4.3<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n3.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n4.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(2.3<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| Income Before Income Taxes<\/b><\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n145.2<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n8.8<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n114.9<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n7.1<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n26<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n34<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n622.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n11.6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n465.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n8.6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n34<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n41<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| Provision (Benefit) from Income Taxes<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n10.9<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(27.3<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n105.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n269.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| (Income) from Equity Method Investments<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(6.5<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(5.1<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(24.9<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(18.4<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| Net Income<\/b><\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n140.9<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n8.6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n147.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n9.1<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n-4<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n | \n | \n\n \n$<\/p>\n<\/td>\n | \n \n541.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n10.1<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n214.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n3.9<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n153<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Net Income Per Common Share – Basic<\/b><\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n0.42<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n$<\/p>\n<\/td>\n | \n \n0.42<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n\n \n$<\/p>\n<\/td>\n | \n \n1.59<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n$<\/p>\n<\/td>\n | \n \n0.61<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| Weighted-Average Number of Common Shares<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n333.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n350.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n340.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n353.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| Net Income Per Common Share – Diluted<\/b><\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n0.42<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n$<\/p>\n<\/td>\n | \n \n0.42<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n\n \n$<\/p>\n<\/td>\n | \n \n1.58<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n$<\/p>\n<\/td>\n | \n \n0.60<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| Weighted-Average Number of Common and Potential Common Shares<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n336.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n353.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n343.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n357.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n1<\/sup> Amounts may not sum due to rounding.<\/td>\n<\/tr>\n<\/table>\n\n\n| MATTEL, INC. AND SUBSIDIARIES<\/b><\/td>\n | | \n | \n | \n | \nEXHIBIT II<\/b><\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \nCONDENSED CONSOLIDATED BALANCE SHEETS1<\/sup><\/b><\/td>\n | \n | \n | \n | \n | <\/tr>\n\n | \n | \n | \nDecember 31,<\/b><\/td>\n<\/tr>\n\n | \n | \n | \n\n 2024<\/b><\/p>\n<\/td>\n | | \n\n 2023<\/b><\/p>\n<\/td>\n<\/tr>\n\n| (In millions)<\/span><\/b><\/td>\n | | \n | \n(Unaudited)<\/b><\/td>\n | | \n | <\/tr>\n \n| Assets<\/b><\/td>\n | | \n | \n | \n | \n | <\/tr>\n \n| Cash and Equivalents<\/td>\n | | \n | \n\n \n$<\/p>\n<\/td>\n | \n \n1,387.9<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n1,261.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Accounts Receivable, Net<\/td>\n | | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,003.2<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,081.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Inventories<\/td>\n | | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n501.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n571.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Prepaid Expenses and Other Current Assets<\/td>\n | | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n234.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n207.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Total Current Assets<\/td>\n | | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n3,126.9<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n3,122.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Property, Plant, and Equipment, Net<\/td>\n | | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n516.0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n465.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Right-of-Use Assets, Net<\/td>\n | | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n326.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n313.2<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Goodwill<\/td>\n | | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,381.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,384.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Other Noncurrent Assets<\/td>\n | | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,193.0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,150.2<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Total Assets<\/b><\/td>\n | | \n | \n\n \n$<\/p>\n<\/td>\n | \n \n6,544.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n6,435.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Liabilities and Stockholders\u2019 Equity<\/b><\/td>\n | | \n | \n | \n | \n | <\/tr>\n \n| Accounts Payable and Accrued Liabilities<\/td>\n | | \n | \n\n \n$<\/p>\n<\/td>\n | \n \n1,277.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n1,308.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Income Taxes Payable<\/td>\n | | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n38.0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n33.9<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Total Current Liabilities<\/td>\n | | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,315.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,342.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Long-Term Debt<\/td>\n | | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,334.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,330.0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Noncurrent Lease Liabilities<\/td>\n | | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n278.2<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n259.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Other Noncurrent Liabilities<\/td>\n | | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n351.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n354.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Stockholders\u2019 Equity<\/td>\n | | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,264.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,149.2<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Total Liabilities and Stockholders\u2019 Equity<\/b><\/td>\n | | \n | \n\n \n$<\/p>\n<\/td>\n | \n \n6,544.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n6,435.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n1 <\/sup>Amounts may not sum due to rounding.<\/td>\n | \n | <\/tr>\n\n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| MATTEL, INC. AND SUBSIDIARIES<\/b><\/td>\n | | \n | \n | \n | \nEXHIBIT II<\/b><\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \nSUPPLEMENTAL BALANCE SHEET AND CASH FLOW DATA (Unaudited)1<\/sup><\/b><\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \nDecember 31,<\/b><\/td>\n<\/tr>\n\n | \n | \n | \n\n 2024<\/b><\/p>\n<\/td>\n | | \n\n 2023<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Key Balance Sheet Data:<\/span><\/b><\/td>\n | | \n | \n | \n | \n | <\/tr>\n \n| Accounts Receivable, Net Days of Sales Outstanding (DSO)<\/td>\n | | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n55<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n60<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \nFor the Year Ended December 31,<\/b><\/td>\n<\/tr>\n\n| (In millions)<\/span><\/b><\/td>\n | | \n | \n\n 2024<\/b><\/p>\n<\/td>\n | | \n\n 2023<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Condensed Cash Flow Data:<\/span><\/b><\/td>\n | | \n | \n | \n | \n | <\/tr>\n \n| Cash Flows Provided by Operating Activities<\/td>\n | | \n | \n\n \n$<\/p>\n<\/td>\n | \n \n800.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n869.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Cash Flows (Used for) Investing Activities<\/td>\n | | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(189.0<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(142.4<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Cash Flows (Used for) Financing Activities and Other<\/td>\n | | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(485.0<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(227.2<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Increase in Cash and Equivalents<\/td>\n | | \n | \n\n \n$<\/p>\n<\/td>\n | \n \n126.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n500.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n1 <\/sup>Amounts may not sum due to rounding.<\/td>\n | \n | <\/tr>\n<\/table>\n\n\n| MATTEL, INC. AND SUBSIDIARIES<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n\n EXHIBIT III<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \nSUPPLEMENTAL FINANCIAL INFORMATION (Unaudited)1<\/sup><\/b><\/td>\n<\/tr>\n\nRECONCILIATION OF GAAP AND NON-GAAP FINANCIAL MEASURES<\/b><\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \nFor the Three Months Ended December 31,<\/b><\/td>\n | | \nFor the Year Ended December 31,<\/b><\/td>\n<\/tr>\n\n| (In millions, except percentage information)<\/span><\/b><\/td>\n | \n 2024<\/b><\/p>\n<\/td>\n | | \n\n 2023<\/b><\/p>\n<\/td>\n | | \nChange<\/b><\/td>\n | | \n\n 2024<\/b><\/p>\n<\/td>\n | | \n\n 2023<\/b><\/p>\n<\/td>\n | | \nChange<\/b><\/td>\n<\/tr>\n\n| Gross Profit<\/span><\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Gross Profit, As Reported<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n835.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n790.2<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n$<\/p>\n<\/td>\n | \n \n2,734.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n2,583.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Gross Margin<\/i><\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 50.7<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n 48.8<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n190 bps<\/i><\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n 50.8<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n 47.5<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n330 bps<\/i><\/td>\n<\/tr>\n\n| Adjustments:<\/i><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Severance and Restructuring Expenses<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n4.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(1.2<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Gross Profit, As Adjusted<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n836.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n790.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n$<\/p>\n<\/td>\n | \n \n2,738.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n2,582.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Adjusted Gross Margin<\/i><\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 50.8<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n 48.8<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n200 bps<\/i><\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n 50.9<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n 47.5<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n340 bps<\/i><\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Other Selling and Administrative Expenses<\/span><\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Other Selling and Administrative Expenses, As Reported<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n420.0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n415.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n 1<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n1,532.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n1,497.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n 2<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n<\/tr>\n\n| % of Net Sales<\/i><\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 25.5<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n 25.6<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n-10 bps<\/i><\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n 28.5<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n 27.5<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n100 bps<\/i><\/td>\n<\/tr>\n\n| Adjustments:<\/i><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Severance and Restructuring Expenses<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(43.8<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(60.8<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Inclined Sleeper Product Recalls<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(1.7<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(9.0<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n4.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(18.1<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Sale of Assets<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(1.8<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Other Selling and Administrative Expenses, As Adjusted<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n418.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n408.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n 2<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n1,492.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n1,416.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n 5<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n<\/tr>\n\n| % of Net Sales<\/i><\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 25.4<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n 25.2<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n20 bps<\/i><\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n 27.7<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n 26.0<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n170 bps<\/i><\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Operating Income<\/span><\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Operating Income, As Reported<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n158.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n140.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n 13<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n694.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n561.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n 24<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n<\/tr>\n\n| Operating Income Margin<\/i><\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 9.6<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n 8.6<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n100 bps<\/i><\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n 12.9<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n 10.3<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n260 bps<\/i><\/td>\n<\/tr>\n\n| Adjustments:<\/i><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Severance and Restructuring Expenses<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(2.0<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n48.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n59.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Inclined Sleeper Product Recalls<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n9.0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(4.1<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n18.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Sale of Assets<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Operating Income, As Adjusted<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n161.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n147.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n 10<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n738.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n641.2<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n 15<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n<\/tr>\n\n| Adjusted Operating Income Margin<\/i><\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 9.8<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n 9.1<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n70 bps<\/i><\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n 13.7<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n 11.8<\/i><\/p>\n<\/td>\n | \n %<\/i><\/p>\n<\/td>\n | | \n190 bps<\/i><\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n1<\/sup> Amounts may not sum due to rounding.<\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| MATTEL, INC. AND SUBSIDIARIES<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n\n EXHIBIT III<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \nSUPPLEMENTAL FINANCIAL INFORMATION (Unaudited)1<\/sup><\/b><\/td>\n<\/tr>\n\nRECONCILIATION OF GAAP AND NON-GAAP FINANCIAL MEASURES<\/b><\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \nFor the Three Months Ended December 31,<\/b><\/td>\n | | \nFor the Year Ended December 31,<\/b><\/td>\n<\/tr>\n\n| (In millions, except per share and percentage information)<\/span><\/b><\/td>\n | \n 2024<\/b><\/p>\n<\/td>\n | | \n\n 2023<\/b><\/p>\n<\/td>\n | | \nChange<\/b><\/td>\n | | \n\n 2024<\/b><\/p>\n<\/td>\n | | \n\n 2023<\/b><\/p>\n<\/td>\n | | \nChange<\/b><\/td>\n<\/tr>\n\n| Earnings Per Share<\/span><\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Net Income Per Common Share, As Reported<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n0.42<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n0.42<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u2014<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n1.58<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n0.60<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n163<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| Adjustments:<\/i><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Severance and Restructuring Expenses<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(0.01<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.14<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.17<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Inclined Sleeper Product Recalls<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.01<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.03<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(0.01<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.05<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Sale of Assets<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.00<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | <\/tr>\n \nChanges to Deferred Tax Assets2<\/sup><\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n(0.07<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(0.14<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(0.06<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.45<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | <\/tr>\n\nTax Effect of Adjustments3<\/sup><\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(0.03<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(0.04<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n | <\/tr>\n\n| Net Income Per Common Share, As Adjusted<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n0.35<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n0.29<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n21<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n1.62<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n1.23<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n32<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| EBITDA and Adjusted EBITDA<\/span><\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Net Income, As Reported<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n140.9<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n147.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n-4<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n541.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n214.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n153<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| Adjustments:<\/i><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Interest Expense<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n29.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n31.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n118.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n123.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Provision (Benefit) from Income Taxes<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n10.9<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(27.3<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n105.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n269.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Depreciation<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n35.0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n35.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n136.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n139.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Amortization<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n7.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n9.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n31.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n37.9<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| EBITDA<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n223.9<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n196.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n934.2<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n785.0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Adjustments:<\/i><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Share-Based Compensation<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n22.0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n30.9<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n79.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n83.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Severance and Restructuring Expenses<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(2.0<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n48.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n59.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Inclined Sleeper Product Recalls<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n9.0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(4.1<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n18.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Sale of Assets<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Adjusted EBITDA<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n248.9<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n234.0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n1,057.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n947.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n12<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Free Cash Flow<\/span><\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Net Cash Flows Provided by Operating Activities<\/td>\n | | \n | \n | \n | \n | \n | \n\n \n$<\/p>\n<\/td>\n | \n \n800.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n869.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Capital Expenditures<\/td>\n | | \n | \n | \n | \n | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(202.6<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(160.3<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n | <\/tr>\n \n| Free Cash Flow<\/td>\n | | \n | \n | \n | \n | \n | \n\n \n$<\/p>\n<\/td>\n | \n \n597.9<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n709.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n1<\/sup> Amounts may not sum due to rounding.<\/td>\n<\/tr>\n\n2<\/sup> For the year ended December 31, 2023, Mattel recorded an expense of $212.4 million related to the write-off of foreign deferred tax assets and a benefit of $51.0 million upon the establishment of deferred tax assets related to an intra-group transfer of certain IP rights.<\/td>\n<\/tr>\n\n3 <\/sup>The aggregate tax effect of adjustments was determined using the effective tax rates on a jurisdictional basis of the respective adjustments, and dividing by the reported weighted average number of common and potential common shares.<\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| MATTEL, INC. AND SUBSIDIARIES<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n\n EXHIBIT III<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \nSUPPLEMENTAL FINANCIAL INFORMATION (Unaudited)1<\/sup><\/b><\/td>\n<\/tr>\n\nRECONCILIATION OF GAAP AND NON-GAAP FINANCIAL MEASURES<\/b><\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \nFor the Year Ended December 31,<\/b><\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| (In millions, except percentage and pts information)<\/span><\/b><\/td>\n | \n 2024<\/b><\/p>\n<\/td>\n | | \n\n 2023<\/b><\/p>\n<\/td>\n | | \nChange<\/b><\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| Tax Rate<\/span><\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Income Before Income Taxes, As Reported<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n622.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n465.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Adjustments:<\/i><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Severance and Restructuring Expenses<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n48.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n59.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Inclined Sleeper Product Recalls<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(4.1<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n18.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Sale of Assets<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Income Before Income Taxes, As Adjusted<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n666.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n544.9<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Provision for Income Taxes, As Reported<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n105.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n269.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Adjustments:<\/i><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \nChanges to Deferred Tax Assets2<\/sup><\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n21.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(161.4<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n\nTax Effect of Adjustments3<\/sup><\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n10.2<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n15.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n\n| Provision for Income Taxes, As Adjusted<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n136.9<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n123.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Tax Rate, As Reported<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n17<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n58<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n-41 pts<\/i><\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| Tax Rate, As Adjusted<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n21<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n23<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n-2 pts<\/i><\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \nDecember 31,<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n | \n\n 2024<\/b><\/p>\n<\/td>\n | | \n\n 2023<\/b><\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Net Debt<\/span><\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Long-Term Debt<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n2,334.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n2,330.0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Adjustments:<\/i><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Cash and Equivalents<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,387.9<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,261.4<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Net Debt<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n946.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n1,068.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| \n 1<\/sup> Amounts may not sum due to rounding.<\/p>\n<\/td>\n<\/tr>\n\n2<\/sup> For the year ended December 31, 2023, Mattel recorded an expense of $212.4 million related to the write-off of foreign deferred tax assets and a benefit of $51.0 million upon the establishment of deferred tax assets related to an intra-group transfer of certain IP rights.<\/td>\n<\/tr>\n\n3 <\/sup>Tax effect of adjustments was determined using the effective tax rates on a jurisdictional basis of the respective adjustments.<\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| MATTEL, INC. AND SUBSIDIARIES<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n\n EXHIBIT III<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \nSUPPLEMENTAL FINANCIAL INFORMATION (Unaudited)1<\/sup><\/b><\/td>\n<\/tr>\n\nRECONCILIATION OF GAAP AND NON-GAAP FINANCIAL MEASURES<\/b><\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \nFor the Year Ended December 31,<\/b><\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| (In millions, except percentage and pts information)<\/span><\/b><\/td>\n | \n 2024<\/b><\/p>\n<\/td>\n | | \n\n 2023<\/b><\/p>\n<\/td>\n | | \nChange<\/b><\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| Leverage Ratio (Total Debt\/Adjusted EBITDA)<\/span><\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Total Debt<\/span><\/i><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Long-Term Debt<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n2,334.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n2,330.0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Adjustments:<\/i><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Debt Issuance Costs and Debt Discount<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n15.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n20.0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Total Debt<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n2,350.0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n2,350.0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| EBITDA and Adjusted EBITDA<\/span><\/i><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Net Income, As Reported<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n541.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n214.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n153<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| Adjustments:<\/i><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Interest Expense<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n118.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n123.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Provision for Income Taxes<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n105.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n269.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Depreciation<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n136.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n139.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Amortization<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n31.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n37.9<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| EBITDA<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n934.2<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n785.0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Adjustments:<\/i><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Share-Based Compensation<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n79.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n83.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Severance and Restructuring Expenses<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n48.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n59.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Inclined Sleeper Product Recalls<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(4.1<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n18.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Sale of Assets<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Adjusted EBITDA<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n1,057.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n947.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n12<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Total Debt \/ Net Income<\/td>\n | 4.3x<\/td>\n | | \n11.0x<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Leverage Ratio (Total Debt \/ Adjusted EBITDA)<\/td>\n | 2.2x<\/td>\n | | \n2.5x<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Free Cash Flow<\/span><\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Net Cash Flows Provided by Operating Activities<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n800.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n869.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n-8<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| Capital Expenditures<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(202.6<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(160.3<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Free Cash Flow<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n597.9<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n709.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n-16<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Net Cash Flows Provided by Operating Activities \/ Net Income<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n148<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n406<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n-258 pts<\/i><\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| Free Cash Flow Conversion (Free Cash Flow\/Adjusted EBITDA)<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n57<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n75<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n-18 pts<\/i><\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n1<\/sup> Amounts may not sum due to rounding.<\/td>\n<\/tr>\n<\/table>\n\n\n| MATTEL, INC. AND SUBSIDIARIES<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\n EXHIBIT IV<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \nWORLDWIDE NET SALES AND GROSS BILLINGS1<\/sup> (Unaudited)2<\/sup><\/b><\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \nFor the Three Months Ended December 31,<\/b><\/td>\n | | \nFor the Year Ended December 31,<\/b><\/td>\n<\/tr>\n\n | \n\n 2024<\/b><\/p>\n<\/td>\n | | \n\n 2023<\/b><\/p>\n<\/td>\n | | \n\n % Change
\n
as
\n
Reported<\/b><\/p>\n<\/td>\n | | \n\n % Change
\n
in
\n
Constant
\n
Currency<\/b><\/p>\n<\/td>\n | | \n\n 2024<\/b><\/p>\n<\/td>\n | | \n\n 2023<\/b><\/p>\n<\/td>\n | | \n\n % Change
\n
as
\n
Reported<\/b><\/p>\n<\/td>\n | | \n\n % Change
\n
in
\n
Constant
\n
Currency<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n(In millions, except percentage information)<\/b><\/td>\n<\/tr>\n\n| Worldwide Net Sales:<\/span><\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Net Sales<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n1,646.4<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n1,620.7<\/p>\n<\/td>\n | | \n\n \n2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n3<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n5,379.5<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n5,441.2<\/p>\n<\/td>\n | | \n\n \n-1<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n-1<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Worldwide Gross Billings by Categories:<\/span><\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Dolls<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n734.9<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n763.1<\/p>\n<\/td>\n | | \n\n \n-4<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n-3<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n2,200.5<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n2,394.2<\/p>\n<\/td>\n | | \n\n \n-8<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n-8<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| Infant, Toddler, and Preschool<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n276.2<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n292.2<\/p>\n<\/td>\n | | \n\n \n-5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n-4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n951.3<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,000.8<\/p>\n<\/td>\n | | \n\n \n-5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n-4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Vehicles<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n543.8<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n475.1<\/p>\n<\/td>\n | | \n\n \n14<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n16<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,791.2<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,641.0<\/p>\n<\/td>\n | | \n\n \n9<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n10<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Action Figures, Building Sets, Games, and Other<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n327.1<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n310.8<\/p>\n<\/td>\n | | \n\n \n5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,090.4<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,065.8<\/p>\n<\/td>\n | | \n\n \n2<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Gross Billings<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n1,881.9<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n1,841.2<\/p>\n<\/td>\n | | \n\n \n2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n3<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n6,033.3<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n6,101.8<\/p>\n<\/td>\n | | \n\n \n-1<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u2014<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Supplemental Gross Billings Disclosure<\/span><\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Worldwide Gross Billings by Top 3 Power Brands:<\/span><\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Barbie<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n406.0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n473.1<\/p>\n<\/td>\n | | \n\n \n-14<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n-13<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n1,350.1<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n1,537.8<\/p>\n<\/td>\n | | \n\n \n-12<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n-12<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| Hot Wheels<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n481.4<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n417.5<\/p>\n<\/td>\n | | \n\n \n15<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n17<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,575.0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,432.4<\/p>\n<\/td>\n | | \n\n \n10<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n11<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \nFisher-Price3<\/sup><\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n206.1<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n200.8<\/p>\n<\/td>\n | | \n\n \n3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n700.8<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n681.5<\/p>\n<\/td>\n | | \n\n \n3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Other<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n788.5<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n749.8<\/p>\n<\/td>\n | | \n\n \n5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,407.4<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,450.2<\/p>\n<\/td>\n | | \n\n \n-2<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n-1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Gross Billings<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n1,881.9<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n1,841.2<\/p>\n<\/td>\n | | \n\n \n2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n3<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n6,033.3<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n6,101.8<\/p>\n<\/td>\n | | \n\n \n-1<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | | \n\n \n\u2014<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n1<\/sup> Gross billings represent amounts invoiced to customers and do not include the impact of sales adjustments, such as trade discounts and other allowances. Mattel presents changes in gross billings as a metric for comparing its aggregate, categorical, brand, and geographic results to highlight significant trends in Mattel\u2019s business.<\/td>\n<\/tr>\n\n2<\/sup> Amounts may not sum due to rounding.<\/td>\n<\/tr>\n\n| 3<\/sup> Beginning in the first quarter of 2024, the Fisher-Price power brand was revised to exclude Baby Gear and Imaginext products. Prior period amounts have been reclassified to conform to the current presentation.<\/td>\n<\/tr>\n<\/table>\n | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |