-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OwJIoS7Omb0D7fTKARJsAKVNtuX2e++Ka4hWrGJ4jSo0LVEvDZo8+kSRJe1w17nX /tvfLEe6k41ueZa5ihW3VQ== 0000898430-02-001333.txt : 20020415 0000898430-02-001333.hdr.sgml : 20020415 ACCESSION NUMBER: 0000898430-02-001333 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 6 CONFORMED PERIOD OF REPORT: 20020404 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020405 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MATTEL INC /DE/ CENTRAL INDEX KEY: 0000063276 STANDARD INDUSTRIAL CLASSIFICATION: DOLLS & STUFFED TOYS [3942] IRS NUMBER: 951567322 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05647 FILM NUMBER: 02602437 BUSINESS ADDRESS: STREET 1: 333 CONTINENTAL BLVD CITY: EL SEGUNDO STATE: CA ZIP: 90245 BUSINESS PHONE: 3102522000 8-K 1 d8k.txt FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report: April 5, 2002 MATTEL, INC. ------------ (Exact name of registrant as specified in its charter) Delaware 001-05647 95-1567322 - -------------------------------------------------------------------------------- (State or other jurisdiction (Commission (I.R.S. Employer of corporation) File No.) Identification No.) 333 Continental Boulevard, El Segundo, California 90245-5012 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (310) 252-2000 ----------------------------- N/A - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) Item 5. Other Events - ------- ------------ Mattel, Inc. hereby incorporates by references herein Exhibits 99.3 and 99.4 reflecting its quarterly and annual financial history, reported in conformity with Generally Accepted Accounting Principles (GAAP), restated to reflect reclassifications for the impact of Emerging Issues Task Force (EITF) Issue No. 01-09. Mattel, Inc. also hereby incorporates by reference Exhibits 99.0, 99.1 and 99.2 reflecting pro forma quarterly and annual financial history restated to reflect reclassifications for the impact of EITF Issue No. 01-09 and pro forma adjustments to remove goodwill amortization and its tax effect. The pro forma statements were prepared to facilitate period to period comparisons of financial results. Item 7. Financial Statements and Exhibits - ------- --------------------------------- (a) Financial statements of businesses acquired: None (b) Pro forma financial information: None (c) Exhibits: 99.0 Mattel, Inc. Pro Forma Quarterly Financial History 99.1 Mattel, Inc. Pro Forma Annual Financial History 99.2 Mattel, Inc. 1997-2001 Pro Forma Reconciliations of Consolidated Statements of Operations 99.3 Mattel, Inc. Restated Quarterly Financial Information 99.4 Mattel, Inc. Restated Five-Year Financial Summary SIGNATURE --------- Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MATTEL, INC. Registrant By: /s/ CHRISTOPHER O'BRIEN ------------------------------------ Christopher O'Brien Vice President, Assistant General Counsel and Assistant Secretary Date: April 5, 2002 ---------------------- EX-99.0 3 dex990.txt PROFORMA QUARTERLY FINANCIAL HISTORY EXHIBIT 99.0 MATTEL, INC. AND SUBSIDIARIES FINANCIAL HIGHLIGHTS CONTINUING OPERATIONS - PRO FORMA BEFORE CHARGES AND AMORTIZATION OF GOODWILL
1999 --------------------------------------------- (In millions, except per share amts) 1 Qtr 2 Qtr 3 Qtr 4 Qtr - ------------------------------------ -------- --------- --------- --------- Key P&L Data: ------------ Net Sales $ 676.0 $ 791.5 $ 1,557.4 $ 1,477.8 Gross Margin $ 300.1 $ 343.4 $ 744.5 $ 679.2 % of Net Sales 44.4% 43.4% 47.8% 46.0% Advertising $ 75.9 $ 80.6 $ 185.3 $ 227.9 % of Net Sales 11.2% 10.2% 11.9% 15.4% SG&A $ 201.5 $ 198.5 $ 204.7 $ 263.2 % of Net Sales 29.8% 25.1% 13.1% 17.8% Operating Income $ 19.2 $ 62.0 $ 354.6 $ 193.9 % of Net Sales 2.9% 7.8% 22.8% 13.1% Net Inc/(Loss) Before Charges $ (4.1) $ 25.0 $ 232.0 $ 109.8 % of Net Sales -0.6% 3.2% 14.9% 7.4% EPS Before Charges - Diluted $ (0.02) $ 0.06 $ 0.54 $ 0.26 Avg. Number of Common Shares - Diluted 396.5 409.0 429.5 426.5 Key Balance Sheet Data: ----------------------- Accounts Receivable, Net $ 855.9 $ 1,064.1 $ 1,684.1 $ 1,002.0 Days of Sales Outstanding (DSO) 98 113 90 56 Inventories $ 562.0 $ 615.2 $ 640.9 $ 436.3 Days of Supply (DOS) 104 69 73 101 Total Debt Outstanding $1,276.3 $ 1,675.3 $ 1,961.8 $ 1,355.6 Total Debt-to-Total Capitalization 37.5% 46.8% 49.5% 40.9% Worldwide Gross Sales: ---------------------- Girls $ 314.6 $ 348.6 $ 683.5 $ 677.6 % As Reported % Local Currency Boys/Entertainment $ 176.6 $ 193.1 $ 415.0 $ 415.5 % As Reported % Local Currency Infant & Preschool $ 236.5 $ 304.4 $ 570.7 $ 522.2 % As Reported % Local Currency Total Company $ 737.5 $ 854.9 $ 1,686.2 $ 1,618.0 % As Reported % Local Currency 2000 --------------------------------------------- (In millions, except per share amts) 1 Qtr 2 Qtr 3 Qtr 4 Qtr - ------------------------------------ -------- --------- --------- --------- Key P&L Data: ------------- Net Sales $ 679.6 $ 803.0 $1,549.6 $ 1,533.3 Gross Margin $ 299.9 $ 348.3 $ 703.7 $ 719.9 % of Net Sales 44.1% 43.4% 45.4% 47.0% Advertising $ 76.8 $ 83.0 $ 186.5 $ 227.2 % of Net Sales 11.3% 10.3% 12.0% 14.8% SG&A $ 201.1 $ 218.7 $ 222.6 $ 265.6 % of Net Sales 29.6% 27.3% 14.4% 17.3% Operating Income $ 27.1 $ 54.3 $ 294.8 $ 228.4 % of Net Sales 4.0% 6.8% 19.0% 14.9% Net Inc/(Loss) Before Charges $ 2.0 $ 13.4 $ 183.4 $ 129.7 % of Net Sales 0.3% 1.7% 11.8% 8.5% EPS Before Charges - Diluted $ 0.01 $ 0.03 $ 0.43 $ 0.30 Avg. Number of Common Shares - Diluted 425.5 427.8 426.9 428.5 Key Balance Sheet Data: ----------------------- Accounts Receivable, Net $ 897.2 $ 1,057.4 $1,456.3 $ 839.6 Days of Sales Outstanding (DSO) 99 113 78 45 Inventories $ 522.3 $ 633.5 $ 655.7 $ 489.7 Days of Supply (DOS) 97 74 73 106 Total Debt Outstanding $ 1,834.2 $ 2,105.4 $2,013.2 $ 1,501.5 Total Debt-to-Total Capitalization 51.3% 55.4% 60.6% 51.7% Worldwide Gross Sales: ---------------------- Girls $ 317.0 $ 355.7 $ 702.6 $ 754.9 % As Reported 1% 2% 3% 11% % Local Currency 3% 5% 6% 15% Boys/Entertainment $ 180.1 $ 202.1 $ 404.3 $ 409.2 % As Reported 2% 5% -3% -2% % Local Currency 3% 4% 0% 3% Infant & Preschool $ 243.0 $ 306.1 $ 562.0 $ 525.3 % As Reported 3% 1% -2% 1% % Local Currency 4% 2% 0% 5% Total Company $ 740.0 $ 870.7 $1,677.7 $ 1,693.3 % As Reported 0% 2% -1% 5% % Local Currency 2% 4% 2% 8% 2001 --------------------------------------------- (In millions, except per share amts) 1 Qtr 2 Qtr 3 Qtr 4 Qtr - ------------------------------------ -------- --------- --------- --------- Key P&L Data: ------------- Net Sales $ 715.2 $ 836.2 $ 1,575.3 $ 1,561.2 Gross Margin $ 316.6 $ 367.6 $ 745.5 $ 747.4 % of Net Sales 44.3% 44.0% 47.3% 47.9% Advertising $ 79.4 $ 84.9 $ 174.9 $ 204.0 % of Net Sales 11.1% 10.2% 11.1% 13.1% SG&A $ 205.2 $ 214.3 $ 230.3 284.8 % of Net Sales 28.7% 25.6% 14.6% 18.2% Operating Income $ 29.7 $ 65.1 $ 337.8 $ 254.3 % of Net Sales 4.2% 7.8% 21.4% 16.3% Net Inc/(Loss) Before Charges $ (3.8) $ 18.5 $ 216.7 $ 154.9 % of Net Sales -0.5% 2.2% 13.8% 9.9% EPS Before Charges - Diluted $ (0.01) $ 0.04 $ 0.50 $ 0.35 Avg. Number of Common Shares - Diluted 429.9 430.9 436.3 437.5 Key Balance Sheet Data: ----------------------- Accounts Receivable, Net $ 890.8 $ 947.8 $ 1,591.4 $ 696.6 Days of Sales Outstanding (DSO) 96 94 84 37 Inventories $ 574.0 $ 692.8 $ 739.7 $ 487.5 Days of Supply (DOS) 98 73 77 107 Total Debt Outstanding $ 1,777.9 $ 1,873.8 $ 2,001.2 $ 1,269.1 Total Debt-to-Total Capitalization 55.9% 57.1% 55.4% 42.2% Worldwide Gross Sales: ---------------------- Girls $ 338.0 $ 379.5 $ 710.4 $ 765.3 % As Reported 7% 7% 1% 1% % Local Currency 9% 8% 2% 1% Boys/Entertainment $ 195.5 $ 219.8 $ 423.2 $ 430.6 % As Reported 9% 9% 5% 5% % Local Currency 11% 10% 6% 5% Infant & Preschool $ 243.1 $ 316.8 $ 578.8 $ 482.6 % As Reported 0% 4% 3% -8% % Local Currency 2% 5% 3% -9% Total Company $ 780.4 $ 919.5 $1,713.4 $ 1,690.8 % As Reported 6% 6% 2% 0% % Local Currency 7% 7% 3% 0%
MATTEL, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS BEFORE CHARGES AND AMORTIZATION OF GOODWILL
1 9 9 9 ---------------------------------------------------------------------------- 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter --------------- --------------- ----------------- ----------------- % Net % Net % Net % Net (In millions, except per share amounts) $ Amt Sales $ Amt Sales $ Amt Sales $ Amt Sales - --------------------------------------- ------ ----- ------ ----- -------- ----- -------- ----- Net Sales $676.0 $791.5 $1,557.4 $1,477.8 Cost of sales 375.9 55.6% 448.1 56.6% 812.9 52.2% 798.6 54.0% ------ ------ -------- -------- Gross Profit 300.1 44.4% 343.4 43.4% 744.5 47.8% 679.2 46.0% Advertising and promotion expenses 75.9 11.2% 80.6 10.2% 185.3 11.9% 227.9 15.4% Other selling and administrative expenses 201.5 29.8% 198.5 25.1% 204.7 13.1% 263.2 17.8% Other expense (income), net 2.2 0.3% 1.0 0.1% (1.4) -0.1% (7.1) -0.4% ------ ------ -------- -------- Operating Income Before Amortization 20.5 3.1% 63.3 8.0% 355.9 22.9% 195.2 13.2% Amortization of other intangibles 1.3 0.2% 1.3 0.2% 1.3 0.1% 1.3 0.1% ------ ------ -------- -------- Operating Income 19.2 2.9% 62.0 7.8% 354.6 22.8% 193.9 13.1% Interest expense 24.9 3.7% 27.6 3.5% 36.0 2.3% 43.1 2.9% ------ ------ -------- -------- Income Before Income Taxes (5.7) -0.8% 34.4 4.3% 318.6 20.5% 150.8 10.2% Provision for income taxes (1.6) 9.4 86.6 41.0 ------ ------ -------- -------- Income From Continuing Operations $ (4.1) -0.6% $ 25.0 3.2% $ 232.0 14.9% $ 109.8 7.4% ====== ====== ======== ======== Effective Tax Rate 27.2% 27.2% 27.2% 27.2% Basic Income per Share from Continuing Operations $(0.02) $ 0.06 $ 0.55 $ 0.26 Avg. Number of Common Shares Outstanding - Basic 396.5 409.0 425.1 425.7 Diluted Income per Share from Continuing Operations $(0.02) $ 0.06 $ 0.54 $ 0.26 Avg. Number of Common Shares Outstanding - Diluted 396.5 409.0 429.5 426.5 2 0 0 0 ---------------------------------------------------------------------------- 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter --------------- --------------- ----------------- ----------------- % Net % Net % Net % Net (In millions, except per share amounts) $ Amt Sales $ Amt Sales $ Amt Sales $ Amt Sales - --------------------------------------- ------ ----- ------ ----- -------- ----- -------- ----- Net Sales $679.6 $803.0 $1,549.6 $1,533.3 Cost of sales 379.7 55.9% 454.7 56.6% 845.9 54.6% 813.4 53.0% ------ ------ -------- -------- Gross Profit 299.9 44.1% 348.3 43.4% 703.7 45.4% 719.9 47.0% Advertising and promotion expenses 76.8 11.3% 83.0 10.3% 186.5 12.0% 227.2 14.8% Other selling and administrative expenses 201.1 29.6% 218.7 27.3% 222.6 14.4% 265.6 17.3% Other expense (income), net (6.4) -1.0% (9.0) -1.1% (1.4) -0.1% (2.5) -0.1% ------ ------ -------- -------- Operating Income Before Amortization 28.4 4.2% 55.6 6.9% 296.0 19.1% 229.6 15.0% Amortization of other intangibles 1.3 0.2% 1.3 0.1% 1.2 0.1% 1.2 0.1% ------ ------ -------- -------- Operating Income 27.1 4.0% 54.3 6.8% 294.8 19.0% 228.4 14.9% Interest expense 24.4 3.6% 35.9 4.5% 42.6 2.7% 50.1 3.3% ------ ------ -------- -------- Income Before Income Taxes 2.7 0.4% 18.4 2.3% 252.2 16.3% 178.3 11.6% Provision for income taxes 0.7 5.0 68.8 48.6 ------ ------ -------- -------- Income From Continuing Operations $ 2.0 0.3% $ 13.4 1.7% $ 183.4 11.8% $ 129.7 8.5% ====== ====== ======== ======== Effective Tax Rate 27.3% 27.3% 27.3% 27.3% Basic Income per Share from Continuing Operations $ 0.01 $ 0.03 $ 0.43 $ 0.30 Avg. Number of Common Shares Outstanding - Basic 425.5 425.8 426.4 426.9 Diluted Income per Share from Continuing Operations $ 0.01 $ 0.03 $ 0.43 $ 0.30 Avg. Number of Common Shares Outstanding - Diluted 425.5 427.8 426.9 428.5 2 0 0 1 ---------------------------------------------------------------------------- 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter --------------- --------------- ----------------- ----------------- % Net % Net % Net % Net (In millions, except per share amounts) $ Amt Sales $ Amt Sales $ Amt Sales $ Amt Sales - --------------------------------------- ------ ----- ------ ----- -------- ----- -------- ----- Net Sales $715.2 $836.2 $1,575.3 $1,561.2 Cost of sales 398.6 55.7% 468.6 56.0% 829.8 52.7% 813.8 52.1% ------ ------ -------- -------- Gross Profit 316.6 44.3% 367.6 44.0% 745.5 47.3% 747.4 47.9% Advertising and promotion expenses 79.4 11.1% 84.9 10.2% 174.9 11.1% 204.0 13.1% Other selling and administrative expenses 205.2 28.7% 214.3 25.6% 230.3 14.6% 284.8 18.2% Other expense (income), net 1.0 0.1% 2.1 0.3% 1.3 0.1% 3.0 0.2% ------ ------ -------- -------- Operating Income Before Amortization 31.0 4.4% 66.3 7.9% 339.0 21.5% 255.6 16.4% Amortization of other intangibles 1.3 0.2% 1.2 0.1% 1.2 0.1% 1.3 0.1% ------ ------ -------- -------- Operating Income 29.7 4.2% 65.1 7.8% 337.8 21.4% 254.3 16.3% Interest expense 34.9 4.9% 39.6 4.7% 39.5 2.5% 41.1 2.6% ------ ------ -------- -------- Income Before Income Taxes (5.2) -0.7% 25.5 3.1% 298.3 18.9% 213.2 13.7% Provision for income taxes (1.4) 7.0 81.6 58.3 ------ ------ -------- -------- Income From Continuing Operations $ (3.8) -0.5% $ 18.5 2.2% $ 216.7 13.8% $ 154.9 9.9% ====== ====== ======== ======== Effective Tax Rate 27.4% 27.4% 27.4% 27.4% Basic Income per Share from Continuing Operations $(0.01) $ 0.04 $ 0.50 $ 0.36 Avg. Number of Common Shares Outstanding - Basic 429.9 430.9 431.2 431.8 Diluted Income per Share from Continuing Operations $(0.01) $ 0.04 $ 0.50 $ 0.35 Avg. Number of Common Shares Outstanding - Diluted 429.9 430.9 436.3 437.5
================================================================================ CONDENSED CONSOLIDATED BALANCE SHEETS
1 9 9 9 ------------------------------------------------ (In millions) At 3/31 At 6/30 At 9/30 At 12/31 - ------------- -------- -------- -------- -------- ASSETS Cash and short-term investments $ 50.2 $ 53.9 $ 61.2 $ 247.4 Accounts receivable, net 855.9 1,064.1 1,684.1 1,002.0 Inventories 562.0 615.2 640.9 436.3 Prepaid expenses and other current assets 290.2 240.6 258.5 166.2 -------- -------- -------- -------- Total current assets 1,758.3 1,973.8 2,644.7 1,851.9 Property, plant and equipment, net 733.5 710.5 702.9 724.8 Other assets 1,454.9 1,453.3 1,455.2 1,635.3 Net investment in discontinued operations 401.1 509.3 504.1 462.0 -------- -------- -------- -------- Total Assets $4,347.8 $4,646.9 $5,306.9 $4,674.0 ======== ======== ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Short-term borrowings $ 259.5 $ 658.7 $ 945.5 $ 369.5 Current portion of long-term liabilities 33.4 133.4 133.3 3.2 Accounts payable and accrued liabilities 620.0 819.0 1,049.4 1,007.9 Income taxes payable 175.5 90.7 131.6 184.8 -------- -------- -------- -------- Total current liabilities 1,088.4 1,701.8 2,259.8 1,565.4 Long-term debt 983.4 883.2 883.0 982.9 Other long-term liabilities 148.9 158.3 158.9 163.0 Stockholders' equity 2,127.1 1,903.6 2,005.2 1,962.7 -------- -------- -------- -------- Total Liabilities and Stockholders' Equity $4,347.8 $4,646.9 $5,306.9 $4,674.0 ======== ======== ======== ======== 2 0 0 0 ------------------------------------------------ (In millions) At 3/31 At 6/30 At 9/30 At 12/31 - ------------- -------- -------- -------- -------- ASSETS Cash and short-term investments $ 214.9 $ 129.7 $ 95.8 $ 232.4 Accounts receivable, net 897.2 1,057.4 1,456.3 839.6 Inventories 522.3 633.5 655.7 489.7 Prepaid expenses and other current assets 196.8 206.7 250.4 189.8 -------- -------- -------- -------- Total current assets 1,831.2 2,027.3 2,458.2 1,751.5 Property, plant and equipment, net 693.7 678.6 662.2 647.8 Other assets 1,728.9 1,716.2 1,698.5 1,902.6 Net investment in discontinued operations 318.7 378.6 25.0 11.5 -------- -------- -------- -------- Total Assets $4,572.5 $4,800.7 $4,843.9 $4,313.4 ======== ======== ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Short-term borrowings $ 848.7 $1,220.2 $ 737.5 $ 226.4 Current portion of long-term liabilities 2.8 2.7 2.6 32.7 Accounts payable and accrued liabilities 656.8 653.4 1,307.6 1,042.4 Income taxes payable 164.5 163.4 47.8 200.9 -------- -------- -------- -------- Total current liabilities 1,672.8 2,039.7 2,095.5 1,502.4 Long-term debt 982.7 882.5 1,273.1 1,242.4 Other long-term liabilities 172.5 182.7 167.2 165.5 Stockholders' equity 1,744.5 1,695.8 1,308.1 1,403.1 -------- -------- -------- -------- Total Liabilities and Stockholders' Equity $4,572.5 $4,800.7 $4,843.9 $4,313.4 ======== ======== ======== ======== 2 0 0 1 ------------------------------------------------ (In millions) At 3/31 At 6/30 At 9/30 At 12/31 - ------------- -------- -------- -------- -------- ASSETS Cash and short-term investments $ 74.3 $ 40.7 $ 65.7 $ 616.6 Accounts receivable, net 890.8 947.8 1,591.4 696.6 Inventories 574.0 692.8 739.7 487.5 Prepaid expenses and other current assets 188.9 182.0 181.5 291.9 -------- -------- -------- -------- Total current assets 1,728.0 1,863.3 2,578.3 2,092.6 Property, plant and equipment, net 623.6 618.4 613.8 626.7 Other assets 1,879.9 1,914.5 1,859.1 1,821.3 Net investment in discontinued operations 0.0 0.0 0.0 0.0 -------- -------- -------- -------- Total Assets $4,231.5 $4,396.2 $5,051.2 $4,540.6 ======== ======== ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Short-term borrowings $ 518.5 $ 620.1 $ 735.1 $ 38.1 Current portion of long-term liabilities 32.6 62.6 244.9 210.1 Accounts payable and accrued liabilities 692.8 743.7 1,071.5 1,109.0 Income taxes payable 176.1 182.5 197.0 239.8 -------- -------- -------- -------- Total current liabilities 1,420.0 1,608.9 2,248.5 1,597.0 Long-term debt 1,226.8 1,191.1 1,021.1 1,020.9 Other long-term liabilities 179.4 189.3 171.4 184.2 Stockholders' equity 1,405.3 1,406.9 1,610.2 1,738.5 -------- -------- -------- -------- Total Liabilities and Stockholders' Equity $4,231.5 $4,396.2 $5,051.2 $4,540.6 ======== ======== ======== ========
EX-99.1 4 dex991.txt PROFORMA ANNUAL FINANCIAL HISTORY EXHIBIT 99.1 MATTEL, INC. AND SUBSIDIARIES FINANCIAL HIGHLIGHTS CONTINUING OPERATIONS - PRO FORMA BEFORE CHARGES AND AMORTIZATION OF GOODWILL
(In millions, except per share amts) 1997 1998 1999 2000 2001 - ------------------------------------ ---------- ---------- ---------- ---------- ---------- Key P&L Data: ------------- Net Sales $ 4,646.4 $ 4,579.5 $ 4,502.7 $ 4,565.5 $ 4,687.9 Gross Margin $ 2,224.1 $ 2,154.5 $ 2,067.2 $ 2,071.8 $ 2,177.1 % of Net Sales 47.9% 47.0% 45.9% 45.4% 46.4% Advertising $ 620.7 $ 631.1 $ 569.7 $ 573.5 $ 543.2 % of Net Sales 13.5% 13.8% 12.6% 12.6% 11.6% SG&A $ 779.8 $ 862.5 $ 867.9 $ 908.0 $ 934.6 % of Net Sales 16.8% 18.8% 19.3% 19.9% 19.9% Operating Income $ 821.0 $ 652.5 $ 629.7 $ 604.6 $ 686.9 % of Net Sales 17.6% 14.2% 14.0% 13.2% 14.7% Net Income Before Charges $ 524.6 $ 389.5 $ 362.7 $ 328.5 $ 386.3 % of Net Sales 11.3% 8.5% 8.1% 7.2% 8.2% EPS Before Charges - Diluted $ 1.36 $ 0.90 $ 0.84 $ 0.77 $ 0.89 Average Number of Common Shares - Diluted 378.7 421.7 425.3 427.1 436.2 Key Balance Sheet Data: ----------------------- Accounts Receivable, Net $ 1,091.4 $ 983.0 $ 1,002.0 $ 839.6 $ 696.6 Days of Sales Outstanding (DSO) 57 54 56 45 37 Inventories $ 428.8 $ 584.4 $ 436.3 $ 489.7 $ 487.5 Days of Supply (DOS) 92 132 101 106 107 Total Debt Outstanding $ 695.2 $ 1,151.0 $ 1,355.6 $ 1,501.5 $ 1,269.1 Total Debt-to-Total Capitalization 26.4% 34.6% 40.9% 51.7% 42.2% Worldwide Gross Sales: ---------------------- Girls $ 2,055.8 $ 2,024.3 $ 2,130.2 $ 2,193.2 % As Reported -2% 5% 3% % Local Currency -2% 8% 4% Boys/Entertainment $ 1,188.2 $ 1,200.2 $ 1,195.7 $ 1,269.1 % As Reported 1% 0% 6% % Local Currency 0% 2% 7% Infant & Preschool $ 1,684.2 $ 1,633.8 $ 1,636.4 $ 1,621.3 % As Reported -3% 0% -1% % Local Currency -4% 3% -1% Total Company $ 4,993.2 $ 4,896.6 $ 4,981.7 $ 5,104.1 % As Reported -2% 2% 2% % Local Currency -3% 5% 3%
MATTEL, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS BEFORE CHARGES AND AMORTIZATION OF GOODWILL
---------------------- ----------------------- ----------------------- 2001 2000 1999 ---------------------- ----------------------- ----------------------- (In millions, except per share amounts) $ Amt % Net Sales $ Amt % Net Sales $ Amt % Net Sales - --------------------------------------- -------- ----------- -------- ----------- -------- ----------- Net Sales $4,687.9 $4,565.5 $4,502.7 Cost of sales 2,510.8 53.6% 2,493.7 54.6% 2,435.5 54.1% -------- -------- -------- Gross Profit 2,177.1 46.4% 2,071.8 45.4% 2,067.2 45.9% Advertising and promotion expenses 543.2 11.6% 573.5 12.6% 569.7 12.6% Other selling and administrative expenses 934.6 19.9% 908.0 19.9% 867.9 19.3% Other expense (income), net 7.4 0.1% (19.3) -0.4% (5.3) -0.1% -------- -------- -------- Operating Income Before Amortization 691.9 14.8% 609.6 13.3% 634.9 14.1% Amortization of other intangibles 5.0 0.1% 5.0 0.1% 5.2 0.1% -------- -------- -------- Operating Income 686.9 14.7% 604.6 13.2% 629.7 14.0% Interest expense 155.1 3.3% 153.0 3.3% 131.6 2.9% -------- -------- -------- Income Before Income Taxes 531.8 11.4% 451.6 9.9% 498.1 11.1% Provision for income taxes 145.5 123.1 135.4 -------- -------- -------- Income From Continuing Operations $ 386.3 8.2% $ 328.5 7.2% $ 362.7 8.1% ======== ======== ======== Effective Tax Rate 27.4% 27.3% 27.2% Basic Income per Share from Continuing Operations $ 0.90 $ 0.77 $ 0.87 Avg. Number of Common Shares Outstanding - Basic 431.0 426.2 414.2 Diluted Income per Share from Continuing Operations $ 0.89 $ 0.77 $ 0.84 Avg. Number of Common Shares Outstanding - Diluted 436.2 427.1 425.3 ---------------------- ----------------------- 1998 1997 ---------------------- ----------------------- (In millions, except per share amounts) $ Amt % Net Sales $ Amt % Net Sales - --------------------------------------- -------- ----------- -------- ----------- Net Sales $4,579.5 $4,646.4 Cost of sales 2,425.0 53.0% 2,422.3 52.1% -------- -------- Gross Profit 2,154.5 47.0% 2,224.1 47.9% Advertising and promotion expenses 631.1 13.8% 620.7 13.5% Other selling and administrative expenses 862.5 18.8% 779.8 16.8% Other expense (income), net 5.3 0.1% 1.2 0.0% -------- -------- Operating Income Before Amortization 655.6 14.3% 822.4 17.6% Amortization of other intangibles 3.1 0.1% 1.4 0.0% -------- -------- Operating Income 652.5 14.2% 821.0 17.6% Interest expense 110.8 2.4% 90.1 1.9% -------- -------- Income Before Income Taxes 541.7 11.8% 730.9 15.7% Provision for income taxes 152.2 206.3 -------- -------- Income From Continuing Operations $ 389.5 8.5% $ 524.6 11.3% ======== ======== Effective Tax Rate 28.1% 28.2% Basic Income per Share from Continuing Operations $ 0.98 $ 1.39 Avg. Number of Common Shares Outstanding - Basic 390.2 369.9 Diluted Income per Share from Continuing Operations $ 0.90 $ 1.36 Avg. Number of Common Shares Outstanding - Diluted 421.7 378.7
================================================================================ CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions) 2001 2000 1999 1998 1997 - ------------- -------- -------- -------- -------- -------- ASSETS Cash and short-term investments $ 616.6 $ 232.4 $ 247.4 $ 212.5 $ 695.0 Accounts receivable, net 696.6 839.6 1,002.0 983.0 1,091.4 Inventories 487.5 489.7 436.3 584.4 428.8 Prepaid expenses and other current assets 291.9 189.8 166.2 277.9 246.5 -------- -------- -------- -------- -------- Total current assets 2,092.6 1,751.5 1,851.9 2,057.8 2,461.7 Property, plant and equipment, net 626.7 647.8 724.8 736.5 601.6 Other assets 1,821.3 1,902.6 1,635.3 1,467.9 740.5 Net investment in discontinued operations - 11.5 462.0 350.6 111.2 -------- -------- -------- -------- -------- Total Assets $4,540.6 $4,313.4 $4,674.0 $4,612.8 $3,915.0 ======== ======== ======== ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Short-term borrowings $ 38.1 $ 226.4 $ 369.5 $ 134.0 $ 17.5 Current portion of long-term liabilities 210.1 32.7 3.2 33.5 13.6 Accounts payable and accrued liabilities 1,109.0 1,042.4 1,007.9 944.4 939.6 Income taxes payable 239.8 200.9 184.8 205.3 202.7 -------- -------- -------- -------- -------- Total current liabilities 1,597.0 1,502.4 1,565.4 1,317.2 1,173.4 Long-term debt 1,020.9 1,242.4 982.9 983.5 664.1 Other long-term liabilities 184.2 165.5 163.0 141.3 144.2 Stockholders' equity 1,738.5 1,403.1 1,962.7 2,170.8 1,933.3 -------- -------- -------- -------- -------- Total Liabilities and Stockholders' Equity $4,540.6 $4,313.4 $4,674.0 $4,612.8 $3,915.0 ======== ======== ======== ======== ========
EX-99.2 5 dex992.txt PROFORMA RECONCILIATIONS OF CONSOLIDATED STATEMENT EXHIBIT 99.2
MATTEL, INC. AND SUBSIDIARIES =================================================================================================================== 1997 AND 1998 PRO FORMA CONSOLIDATED STATEMENTS OF OPERATIONS Year Ended Dec. 31, 1997 --------------------------------------------- Impact of As Charges & (In millions, except per share amounts) Reported (a) Goodwill Pro Forma - --------------------------------------- -------------- ------------ -------------- Net Sales $ 4,646.4 $ 0.0 $ 4,646.4 Cost of sales 2,422.3 0.0 2,422.3 ---------- -------- --------- Gross Profit 2,224.1 0.0 2,224.1 Advertising and promotion expenses 620.7 0.0 620.7 Other selling and administrative expenses 779.8 0.0 779.8 Restructuring and other charges 275.0 275.0 0.0 Other expense, net 1.2 0.0 1.2 ---------- -------- --------- Operating Income Before Amortization 547.4 (275.0) 822.4 Amortization of other intangibles 1.4 0.0 1.4 ---------- -------- --------- Operating Income Before Amortization of Goodwill 546.0 (275.0) 821.0 Amortization of goodwill 30.8 30.8 0.0 ---------- -------- --------- Operating Income 515.2 (305.8) 821.0 Interest expense 90.1 0.0 90.1 ---------- -------- --------- Income Before Income Taxes 425.1 (305.8) 730.9 Provision for income taxes 135.3 (71.0) 206.3 ---------- -------- --------- Income From Continuing Operations 289.8 (234.8) 524.6 Loss from discontinued operations, net of tax (467.9) (467.9) 0.0 Loss from extraordinary item, net of tax (4.6) (4.6) 0.0 ---------- -------- --------- Net Income (Loss) $ (182.7) $ (707.3) $ 524.6 ========== ======== ========= Income (Loss) Per Share - Basic Income from continuing operations $ 0.76 $ (0.63) $ 1.39 Loss from discontinued operations (1.27) (1.27) 0.00 Loss from extraordinary item (0.01) (0.01) 0.00 ---------- -------- --------- $ (0.52) $ (1.91) $ 1.39 ========== ======== ========= Average Number of Common Shares Outstanding - Basic 369.9 369.9 369.9 ========== ======== ========= Income (Loss) Per Share - Diluted Income from continuing operations $ 0.74 $ (0.62) $ 1.36 Loss from discontinued operations (1.24) (1.24) 0.00 Loss from extraordinary item (0.01) (0.01) 0.00 ---------- -------- --------- $ (0.51) $ (1.87) $ 1.36 ========== ======== ========= Average Number of Common and Common Equivalent Shares Outstanding - Diluted 378.7 378.7 378.7 ========== ======== ========= Year Ended Dec. 31, 1998 --------------------------------------------- Impact of As Charges & (In millions, except per share amounts) Reported (a) Goodwill Pro Forma - --------------------------------------- -------------- ------------ -------------- Net Sales $ 4,579.5 $ 0.0 $ 4,579.5 Cost of sales 2,425.0 0.0 2,425.0 --------- --------- ---------- Gross Profit 2,154.5 0.0 2,154.5 Advertising and promotion expenses 631.1 0.0 631.1 Other selling and administrative expenses 862.5 0.0 862.5 Restructuring and other charges 44.0 44.0 0.0 Other expense, net 5.3 0.0 5.3 --------- --------- ---------- Operating Income Before Amortization 611.6 (44.0) 655.6 Amortization of other intangibles 3.1 0.0 3.1 --------- --------- ---------- Operating Income Before Amortization of Goodwill 608.5 (44.0) 652.5 Amortization of goodwill 38.2 38.2 0.0 --------- --------- ---------- Operating Income 570.3 (82.2) 652.5 Interest expense 110.8 0.0 110.8 --------- --------- ---------- Income Before Income Taxes 459.5 (82.2) 541.7 Provision for income taxes 131.2 (21.0) 152.2 --------- --------- ---------- Income From Continuing Operations 328.3 (61.2) 389.5 Loss from discontinued operations, net of tax (122.2) (122.2) 0.0 Loss from extraordinary item, net of tax 0.0 0.0 0.0 --------- --------- ---------- Net Income (Loss) $ 206.1 $ (183.4) $ 389.5 ========= ========= ========== Income (Loss) Per Share - Basic Income from continuing operations $ 0.82 $ (0.16) $ 0.98 Loss from discontinued operations (0.31) (0.31) 0.00 Loss from extraordinary item 0.00 0.00 0.00 --------- --------- ---------- $ 0.51 $ (0.47) $ 0.98 ========= ========= ========== Average Number of Common Shares Outstanding - Basic 390.2 390.2 390.2 ========= ========= ========== Income (Loss) Per Share - Diluted Income from continuing operations $ 0.76 $ (0.14) $ 0.90 Loss from discontinued operations (0.29) (0.29) 0.00 Loss from extraordinary item 0.00 0.00 0.00 --------- --------- ---------- $ 0.47 $ (0.43) $ 0.90 ========= ========= ========== Average Number of Common and Common Equivalent Shares Outstanding - Diluted 421.7 421.7 421.7 ========= ========= ==========
(a) Reported in accordance with Generally Accepted Accounting Principles and restated from previously reported amounts to reflect reclassifications for the impact of EITF Issue No. 01-09, "Accounting for Consideration Given by a Vender to a Customer." MATTEL, INC. AND SUBSIDIARIES ================================================================================ 1999 PRO FORMA CONSOLIDATED STATEMENTS OF OPERATIONS
Three Months Ended March 31, 1999 ------------------------------------------------ Impact of As Charges & (In millions, except per share amounts) Reported (a) Goodwill Pro Forma - --------------------------------------- ---------------- -------------- -------------- Net Sales $ 676.0 $ 0.0 $676.0 Cost of sales 375.9 0.0 375.9 ------- ------ ------ Gross Profit 300.1 0.0 300.1 Advertising and promotion expenses 75.9 0.0 75.9 Other selling and administrative expenses 201.5 0.0 201.5 Restructuring and other charges 0.0 0.0 0.0 Other (income) expense, net 2.2 0.0 2.2 ------- ------ ------ Operating Income (Loss) Before Amortization 20.5 0.0 20.5 Amortization of other intangibles 1.3 0.0 1.3 ------- ------ ------ Operating Income (Loss) Before Amortization of Goodwill 19.2 0.0 19.2 Amortization of goodwill 11.7 11.7 0.0 ------- ------ ------ Operating Income (Loss) 7.5 (11.7) 19.2 Interest expense 24.9 0.0 24.9 ------- ------ ------ Income (Loss) Before Income Taxes (17.4) (11.7) (5.7) Provision (benefit) for income taxes (4.8) (3.2) (1.6) ------- ------ ------ Income (Loss) From Continuing Operations (12.6) (8.5) (4.1) Income (loss) from discontinued operations, net of tax 17.7 17.7 0.0 ------- ------ ------ Net Income (Loss) $ 5.1 $ 9.2 $ (4.1) ======= ====== ====== Income (Loss) Per Share - Basic Income (loss) from continuing operations $ (0.04) $(0.02) $(0.02) Income (loss) from discontinued operations 0.05 0.05 0.00 ------- ------ ------ $ 0.01 $ 0.03 $(0.02) ======= ====== ====== Average Number of Common Shares Outstanding - Basic 396.5 396.5 396.5 ======= ====== ====== Income (Loss) Per Share - Diluted Income (loss) from continuing operations $ (0.04) $(0.02) $(0.02) Income (loss) from discontinued operations 0.05 0.05 0.00 ------- ------ ------ $ 0.01 $ 0.03 $(0.02) ======= ====== ====== Average Number of Common and Common Equivalent Shares Outstanding - Diluted 396.5 396.5 396.5 ======= ====== ====== Three Months Ended June 30, 1999 ------------------------------------------------- Impact of As Charges & (In millions, except per share amounts) Reported (a) Goodwill Pro Forma - --------------------------------------- ---------------- ------------- -------------- Net Sales $ 791.5 $ 0.0 $791.5 Cost of sales 448.1 0.0 448.1 ------- ------- ------ Gross Profit 343.4 0.0 343.4 Advertising and promotion expenses 80.6 0.0 80.6 Other selling and administrative expenses 198.5 0.0 198.5 Restructuring and other charges 293.1 293.1 0.0 Other (income) expense, net 1.0 0.0 1.0 ------- ------- ------ Operating Income (Loss) Before Amortization (229.8) (293.1) 63.3 Amortization of other intangibles 1.3 0.0 1.3 ------- ------- ------ Operating Income (Loss) Before Amortization of Goodwill (231.1) (293.1) 62.0 Amortization of goodwill 11.7 11.7 0.0 ------- ------- ------ Operating Income (Loss) (242.8) (304.8) 62.0 Interest expense 27.6 0.0 27.6 ------- ------- ------ Income (Loss) Before Income Taxes (270.4) (304.8) 34.4 Provision (benefit) for income taxes (59.4) (68.8) 9.4 ------- ------- ------ Income (Loss) From Continuing Operations (211.0) (236.0) 25.0 Income (loss) from discontinued operations, net of tax 6.6 6.6 0.0 ------- ------- ------ Net Income (Loss) $(204.4) $(229.4) $ 25.0 ======= ======= ====== Income (Loss) Per Share - Basic Income (loss) from continuing operations $ (0.52) $ (0.58) $ 0.06 Income (loss) from discontinued operations 0.02 0.02 0.00 ------- ------- ------ $ (0.50) $ (0.56) $ 0.06 ======= ======= ====== Average Number of Common Shares Outstanding - Basic 409.0 409.0 409.0 ======= ======= ====== Income (Loss) Per Share - Diluted Income (loss) from continuing operations $ (0.52) $ (0.58) $ 0.06 Income (loss) from discontinued operations 0.02 0.02 0.00 ------- ------- ------ $ (0.50) $ (0.56) $ 0.06 ======= ======= ====== Average Number of Common and Common Equivalent Shares Outstanding - Diluted 409.0 409.0 409.0 ======= ======= ====== Three Months Ended Sept. 30, 1999 ------------------------------------------------ Impact of As Charges & (In millions, except per share amounts) Reported (a) Goodwill Pro Forma - --------------------------------------- ---------------- ------------- -------------- Net Sales $1,557.4 $ 0.0 $1,557.4 Cost of sales 812.9 0.0 812.9 -------- ------- -------- Gross Profit 744.5 0.0 744.5 Advertising and promotion expenses 185.3 0.0 185.3 Other selling and administrative expenses 204.7 0.0 204.7 Restructuring and other charges 0.0 0.0 0.0 Other (income) expense, net (1.4) 0.0 (1.4) -------- ------- -------- Operating Income (Loss) Before Amortization 355.9 0.0 355.9 Amortization of other intangibles 1.3 0.0 1.3 -------- ------ -------- Operating Income (Loss) Before Amortization of Goodwill 354.6 0.0 354.6 Amortization of goodwill 11.8 11.8 0.0 -------- ------ -------- Operating Income (Loss) 342.8 (11.8) 354.6 Interest expense 36.0 0.0 36.0 -------- ------ -------- Income (Loss) Before Income Taxes 306.8 (11.8) 318.6 Provision (benefit) for income taxes 84.7 (1.9) 86.6 -------- ------ -------- Income (Loss) From Continuing Operations 222.1 (9.9) 232.0 Income (loss) from discontinued operations, net of tax (86.8) (86.8) 0.0 -------- ------ -------- Net Income (Loss) $ 135.3 $(96.7) $ 232.0 ======== ====== ======== Income (Loss) Per Share - Basic Income (loss) from continuing operations $ 0.52 $(0.03) $ 0.55 Income (loss) from discontinued operations (0.20) (0.20) 0.00 -------- ------ -------- $ 0.32 $(0.23) $ 0.55 ======== ====== ======== Average Number of Common Shares Outstanding - Basic 425.1 425.1 425.1 ======== ====== ======== Income (Loss) Per Share - Diluted Income (loss) from continuing operations $ 0.52 $(0.02) $ 0.54 Income (loss) from discontinued operations (0.20) (0.20) 0.00 -------- ------ -------- $ 0.32 $(0.22) $ 0.54 ======== ====== ======== Average Number of Common and Common Equivalent Shares Outstanding - Diluted 429.5 429.5 429.5 ======== ====== ======== Three Months Ended Dec. 31, 1999 ------------------------------------------------ Impact of As Charges & (In millions, except per share amounts) Reported (a) Goodwill Pro Forma - --------------------------------------- ---------------- -------------- -------------- Net Sales $1,477.8 $ 0.0 $1,477.8 Cost of sales 798.6 0.0 798.6 -------- ------- -------- Gross Profit 679.2 0.0 679.2 Advertising and promotion expenses 227.9 0.0 227.9 Other selling and administrative expenses 263.2 0.0 263.2 Restructuring and other charges (12.0) (12.0) 0.0 Other (income) expense, net (7.1) 0.0 (7.1) -------- ------- -------- Operating Income (Loss) Before Amortization 207.2 12.0 195.2 Amortization of other intangibles 1.3 0.0 1.3 -------- ------- -------- Operating Income (Loss) Before Amortization of Goodwill 205.9 12.0 193.9 Amortization of goodwill 11.6 11.6 0.0 -------- ------- -------- Operating Income (Loss) 194.3 0.4 193.9 Interest expense 43.1 0.0 43.1 -------- ------- -------- Income (Loss) Before Income Taxes 151.2 0.4 150.8 Provision (benefit) for income taxes 41.3 0.3 41.0 -------- ------- -------- Income (Loss) From Continuing Operations 109.9 0.1 109.8 Income (loss) from discontinued operations, net of tax (128.3) (128.3) 0.0 -------- ------- -------- Net Income (Loss) $ (18.4) $(128.2) $ 109.8 ======== ======= ======== Income (Loss) Per Share - Basic Income (loss) from continuing operations $ 0.26 $ 0.00 $ 0.26 Income (loss) from discontinued operations (0.30) (0.30) 0.00 -------- ------- -------- $ (0.04) $ (0.30) $ 0.26 ======== ======= ======== Average Number of Common Shares Outstanding - Basic 425.7 425.7 425.7 ======== ======= ======== Income (Loss) Per Share - Diluted Income (loss) from continuing operations $ 0.26 $ 0.00 $ 0.26 Income (loss) from discontinued operations (0.30) (0.30) 0.00 -------- ------- -------- $ (0.04) $ (0.30) $ 0.26 ======== ======= ======== Average Number of Common and Common Equivalent Shares Outstanding - Diluted 426.5 426.5 426.5 ======== ======= ======== Year Ended Dec. 31, 1999 ---------------------------------------------- Impact of As Charges & (In millions, except per share amounts) Reported (a) Goodwill Pro Forma - --------------------------------------- -------------- -------------- -------------- Net Sales $4,502.7 $ 0.0 $4,502.7 Cost of sales 2,435.5 0.0 2,435.5 -------- ------- -------- Gross Profit 2,067.2 0.0 2,067.2 Advertising and promotion expenses 569.7 0.0 569.7 Other selling and administrative expenses 867.9 0.0 867.9 Restructuring and other charges 281.1 281.1 0.0 Other (income) expense, net (5.3) 0.0 (5.3) -------- ------- -------- Operating Income (Loss) Before Amortization 353.8 (281.1) 634.9 Amortization of other intangibles 5.2 0.0 5.2 -------- ------- -------- Operating Income (Loss) Before Amortization of Goodwill 348.6 (281.1) 629.7 Amortization of goodwill 46.8 46.8 0.0 -------- ------- -------- Operating Income (Loss) 301.8 (327.9) 629.7 Interest expense 131.6 0.0 131.6 -------- ------- -------- Income (Loss) Before Income Taxes 170.2 (327.9) 498.1 Provision (benefit) for income taxes 61.8 (73.6) 135.4 -------- ------- -------- Income (Loss) From Continuing Operations 108.4 (254.3) 362.7 Income (loss) from discontinued operations, net of tax (190.8) (190.8) 0.0 -------- ------- -------- Net Income (Loss) $ (82.4) $(445.1) $ 362.7 ======== ======= ======== Income (Loss) Per Share - Basic Income (loss) from continuing operations $ 0.25 $ (0.62) $ 0.87 Income (loss) from discontinued operations (0.46) (0.46) 0.00 -------- ------- -------- $ (0.21) $ (1.08) $ 0.87 ======== ======= ======== Average Number of Common Shares Outstanding - Basic 414.2 414.2 414.2 ======== ======= ======== Income (Loss) Per Share - Diluted Income (loss) from continuing operations $ 0.25 $ (0.59) $ 0.84 Income (loss) from discontinued operations (0.45) (0.45) 0.00 -------- ------- -------- $ (0.20) $ (1.04) $ 0.84 ======== ======= ======== Average Number of Common and Common Equivalent Shares Outstanding - Diluted 425.3 425.3 425.3 ======== ======= ========
(a) Reported in accordance with Generally Accepted Accounting Principles and restated from previously reported amounts to reflect reclassifications for the impact of EITF Issue No. 01-09, "Accounting for Consideration Given by a Vender to a Customer." MATTEL, INC. AND SUBSIDIARIES ================================================================================ 2000 PRO FORMA CONSOLIDATED STATEMENTS OF OPERATIONS
Three Months Ended March 31, 2000 ----------------------------------------------- Impact of As Charges & (In millions, except per share amounts) Reported (a) Goodwill Pro Forma - --------------------------------------- ------------ ----------- ----------- Net Sales $ 679.6 $ 0.0 $ 679.6 Cost of sales 379.7 0.0 379.7 ---------- ---------- ---------- Gross Profit 299.9 0.0 299.9 Advertising and promotion expenses 76.8 0.0 76.8 Other selling and administrative expenses 254.2 53.1 201.1 Restructuring and other charges 0.0 0.0 0.0 Other (income) expense, net (6.4) 0.0 (6.4) ---------- ---------- ---------- Operating Income (Loss) Before Amortization (24.7) (53.1) 28.4 Amortization of other intangibles 1.3 0.0 1.3 ---------- ---------- ---------- Operating Income (Loss) Before Amortization of Goodwill (26.0) (53.1) 27.1 Amortization of goodwill 11.2 11.2 0.0 ---------- ---------- ---------- Operating Income (Loss) (37.2) (64.3) 27.1 Interest expense 24.4 0.0 24.4 ---------- ---------- ---------- Income (Loss) Before Income Taxes (61.6) (64.3) 2.7 Provision (benefit) for income taxes (17.0) (17.7) 0.7 ---------- ---------- ---------- Income (Loss) From Continuing Operations (44.6) (46.6) 2.0 Loss from discontinued operations, net of tax (126.6) (126.6) 0.0 ---------- ---------- ---------- Net Income (Loss) $ (171.2) $ (173.2) $ 2.0 ========== ========== ========== Income (Loss) Per Share - Basic Income (loss) from continuing operations $ (0.10) $ (0.11) $ 0.01 Loss from discontinued operations (0.30) (0.30) 0.00 ---------- ---------- ---------- $ (0.40) $ (0.41) $ 0.01 ========== ========== ========== Average Number of Common Shares Outstanding - Basic 425.5 425.5 425.5 ========== ========== ========== Income (Loss) Per Share - Diluted Income (loss) from continuing operations $ (0.10) $ (0.11) $ 0.01 Loss from discontinued operations (0.30) (0.30) 0.00 ---------- ---------- ---------- $ (0.40) $ (0.41) $ 0.01 ========== ========== ========== Average Number of Common and Common Equivalent Shares Outstanding - Diluted 425.5 425.5 425.5 ========== ========== ========== Three Months Ended June 30, 2000 ----------------------------------------------- Impact of As Charges & (In millions, except per share amounts) Reported (a) Goodwill Pro Forma - --------------------------------------- ------------ ----------- ----------- Net Sales $ 803.0 $ 0.0 $ 803.0 Cost of sales 454.7 0.0 454.7 ---------- ---------- ---------- Gross Profit 348.3 0.0 348.3 Advertising and promotion expenses 83.0 0.0 83.0 Other selling and administrative expenses 218.7 0.0 218.7 Restructuring and other charges (2.0) (2.0) 0.0 Other (income) expense, net (9.0) 0.0 (9.0) ---------- ---------- ---------- Operating Income (Loss) Before Amortization 57.6 2.0 55.6 Amortization of other intangibles 1.3 0.0 1.3 ---------- ---------- ---------- Operating Income (Loss) Before Amortization of Goodwill 56.3 2.0 54.3 Amortization of goodwill 12.1 12.1 0.0 ---------- ---------- ---------- Operating Income (Loss) 44.2 (10.1) 54.3 Interest expense 35.9 0.0 35.9 ---------- ---------- ---------- Income (Loss) Before Income Taxes 8.3 (10.1) 18.4 Provision (benefit) for income taxes 2.3 (2.7) 5.0 ---------- ---------- ---------- Income (Loss) From Continuing Operations 6.0 (7.4) 13.4 Loss from discontinued operations, net of tax 0.0 0.0 0.0 ---------- ---------- ---------- Net Income (Loss) $ 6.0 $ (7.4) $ 13.4 ========== ========== ========== Income (Loss) Per Share - Basic Income (loss) from continuing operations $ 0.01 $ (0.02) $ 0.03 Loss from discontinued operations 0.00 0.00 0.00 ---------- ---------- ---------- $ 0.01 $ (0.02) $ 0.03 ========== ========== ========== Average Number of Common Shares Outstanding - Basic 425.8 425.8 425.8 ========== ========== ========== Income (Loss) Per Share - Diluted Income (loss) from continuing operations $ 0.01 $ (0.02) $ 0.03 Loss from discontinued operations 0.00 0.00 0.00 ---------- ---------- ---------- $ 0.01 $ (0.02) $ 0.03 ========== ========== ========== Average Number of Common and Common Equivalent Shares Outstanding - Diluted 427.8 427.8 427.8 ========== ========== ========== Three Months Ended Sept. 30, 2000 ----------------------------------------------- Impact of As Charges & (In millions, except per share amounts) Reported (a) Goodwill Pro Forma - --------------------------------------- ------------ ----------- ----------- Net Sales $ 1,549.6 $ 0.0 $ 1,549.6 Cost of sales 917.9 72.0 845.9 ---------- ---------- ---------- Gross Profit 631.7 (72.0) 703.7 Advertising and promotion expenses 190.3 3.8 186.5 Other selling and administrative expenses 224.7 2.1 222.6 Restructuring and other charges 17.9 17.9 0.0 Other (income) expense, net 7.6 9.0 (1.4) ---------- ---------- ---------- Operating Income (Loss) Before Amortization 191.2 (104.8) 296.0 Amortization of other intangibles 1.7 0.5 1.2 ---------- ---------- ---------- Operating Income (Loss) Before Amortization of Goodwill 189.5 (105.3) 294.8 Amortization of goodwill 11.6 11.6 0.0 ---------- ---------- ---------- Operating Income (Loss) 177.9 (116.9) 294.8 Interest expense 42.6 0.0 42.6 ---------- ---------- ---------- Income (Loss) Before Income Taxes 135.3 (116.9) 252.2 Provision (benefit) for income taxes 31.6 (37.2) 68.8 ---------- ---------- ---------- Income (Loss) From Continuing Operations 103.7 (79.7) 183.4 Loss from discontinued operations, net of tax (440.6) (440.6) 0.0 ---------- ---------- ---------- Net Income (Loss) $ (336.9) $ (520.3) $ 183.4 ========== ========== ========== Income (Loss) Per Share - Basic Income (loss) from continuing operations $ 0.24 $ (0.19) $ 0.43 Loss from discontinued operations (1.03) (1.03) 0.00 ---------- ---------- ---------- $ (0.79) $ (1.22) $ 0.43 ========== ========== ========== Average Number of Common Shares Outstanding - Basic 426.4 426.4 426.4 ========== ========== ========== Income (Loss) Per Share - Diluted Income (loss) from continuing operations $ 0.24 $ (0.19) $ 0.43 Loss from discontinued operations (1.03) (1.03) 0.00 ---------- ---------- ---------- $ (0.79) $ (1.22) $ 0.43 ========== ========== ========== Average Number of Common and Common Equivalent Shares Outstanding - Diluted 426.9 426.9 426.9 ========== ========== ========== Three Months Ended Dec. 31, 2000 ----------------------------------------------- Impact of As Charges & (In millions, except per share amounts) Reported (a) Goodwill Pro Forma - --------------------------------------- ------------ ----------- ----------- Net Sales $ 1,533.3 $ 0.0 $ 1,533.3 Cost of sales 820.0 6.6 813.4 ---------- ---------- ---------- Gross Profit 713.3 (6.6) 719.9 Advertising and promotion expenses 228.2 1.0 227.2 Other selling and administrative expenses 269.4 3.8 265.6 Restructuring and other charges 0.0 0.0 0.0 Other (income) expense, net 9.4 11.9 (2.5) ---------- ---------- ---------- Operating Income (Loss) Before Amortization 206.3 (23.3) 229.6 Amortization of other intangibles 1.2 0.0 1.2 ---------- ---------- ---------- Operating Income (Loss) Before Amortization of Goodwill 205.1 (23.3) 228.4 Amortization of goodwill 11.6 11.6 0.0 ---------- ---------- ---------- Operating Income (Loss) 193.5 (34.9) 228.4 Interest expense 50.1 0.0 50.1 ---------- ---------- ---------- Income (Loss) Before Income Taxes 143.4 (34.9) 178.3 Provision (benefit) for income taxes 38.3 (10.3) 48.6 ---------- ---------- ---------- Income (Loss) From Continuing Operations 105.1 (24.6) 129.7 Loss from discontinued operations, net of tax (34.0) (34.0) 0.0 ---------- ---------- ---------- Net Income (Loss) $ 71.1 $ (58.6) $ 129.7 ========== ========== ========== Income (Loss) Per Share - Basic Income (loss) from continuing operations $ 0.25 $ (0.05) $ 0.30 Loss from discontinued operations (0.08) (0.08) 0.00 ---------- ---------- ---------- $ 0.17 $ (0.13) $ 0.30 ========== ========== ========== Average Number of Common Shares Outstanding - Basic 426.9 426.9 426.9 ========== ========== ========== Income (Loss) Per Share - Diluted Income (loss) from continuing operations $ 0.25 $ (0.05) $ 0.30 Loss from discontinued operations (0.08) (0.08) 0.00 ---------- ---------- ---------- $ 0.17 $ (0.13) $ 0.30 ========== ========== ========== Average Number of Common and Common Equivalent Shares Outstanding - Diluted 428.5 428.5 428.5 ========== ========== ========== Year Ended Dec. 31, 2000 ----------------------------------------------- Impact of As Charges & (In millions, except per share amounts) Reported (a) Goodwill Pro Forma - --------------------------------------- ------------ ----------- ----------- Net Sales $ 4,565.5 $ 0.0 $ 4,565.5 Cost of sales 2,572.3 78.6 2,493.7 ---------- ---------- ---------- Gross Profit 1,993.2 (78.6) 2,071.8 Advertising and promotion expenses 578.3 4.8 573.5 Other selling and administrative expenses 967.0 59.0 908.0 Restructuring and other charges 15.9 15.9 0.0 Other (income) expense, net 1.6 20.9 (19.3) ---------- ---------- ---------- Operating Income (Loss) Before Amortization 430.4 (179.2) 609.6 Amortization of other intangibles 5.5 0.5 5.0 ---------- ---------- ---------- Operating Income (Loss) Before Amortization of Goodwill 424.9 (179.7) 604.6 Amortization of goodwill 46.5 46.5 0.0 ---------- ---------- ---------- Operating Income (Loss) 378.4 (226.2) 604.6 Interest expense 153.0 0.0 153.0 ---------- ---------- ---------- Income (Loss) Before Income Taxes 225.4 (226.2) 451.6 Provision (benefit) for income taxes 55.2 (67.9) 123.1 ---------- ---------- ---------- Income (Loss) From Continuing Operations 170.2 (158.3) 328.5 Loss from discontinued operations, net of tax (601.2) (601.2) 0.0 ---------- ---------- ---------- Net Income (Loss) $ (431.0) $ (759.5) $ 328.5 ========== ========== ========== Income (Loss) Per Share - Basic Income (loss) from continuing operations $ 0.40 $ (0.37) $ 0.77 Loss from discontinued operations (1.41) (1.41) 0.00 ---------- ---------- ---------- $ (1.01) $ (1.78) $ 0.77 ========== ========== ========== Average Number of Common Shares Outstanding - Basic 426.2 426.2 426.2 ========== ========== ========== Income (Loss) Per Share - Diluted Income (loss) from continuing operations $ 0.40 $ (0.37) $ 0.77 Loss from discontinued operations (1.41) (1.41) 0.00 ---------- ---------- ---------- $ (1.01) $ (1.78) $ 0.77 ========== ========== ========== Average Number of Common and Common Equivalent Shares Outstanding - Diluted 427.1 427.1 427.1 ========== ========== ==========
(a) Reported in accordance with Generally Accepted Accounting Principles and restated from previously reported amounts to reflect reclassifications for the impact of EITF Issue No. 01-09, "Accounting for Consideration Given by a Vender to a Customer." MATTEL, INC. AND SUBSIDIARIES ================================================================================ 2001 PRO FORMA CONSOLIDATED STATEMENTS OF OPERATIONS
Three Months Ended March 31, 2001 -------------------------------------------- Impact of As Charges & (In millions, except per share amounts) Reported (a) Goodwill Pro Forma - --------------------------------------- ------------ ----------- ---------- Net Sales $ 715.2 $ 0.0 $ 715.2 Cost of sales 405.2 6.6 398.6 ---------- ----------- --------- Gross Profit 310.0 (6.6) 316.6 Advertising and promotion expenses 79.7 0.3 79.4 Other selling and administrative expenses 205.3 0.1 205.2 Restructuring and other charges 0.0 0.0 0.0 Other expense, net 6.5 5.5 1.0 ---------- ----------- --------- Operating Income Before Amortization 18.5 (12.5) 31.0 Amortization of other intangibles 1.3 0.0 1.3 ---------- ----------- --------- Operating Income Before Amortization of Goodwill 17.2 (12.5) 29.7 Amortization of goodwill 11.5 11.5 0.0 ---------- ----------- --------- Operating Income 5.7 (24.0) 29.7 Interest expense 34.9 0.0 34.9 ---------- ----------- --------- Income (Loss) Before Income Taxes (29.2) (24.0) (5.2) Provision (benefit) for income taxes (7.2) (5.8) (1.4) ---------- ----------- --------- Income (Loss) From Continuing Operations (22.0) (18.2) (3.8) Cumulative effect of change in accounting principles, net of tax (12.0) (12.0) 0.0 ---------- ----------- --------- Net Income (Loss) $ (34.0) $ (30.2) $ (3.8) ========== =========== ========= Income (Loss) Per Share - Basic Income (loss) from continuing operations $ (0.05) $ (0.04) $ (0.01) Cumulative effect of change in accounting principles (0.03) (0.03) 0.00 ---------- ----------- --------- $ (0.08) $ (0.07) $ (0.01) ========== =========== ========= Average Number of Common Shares Outstanding - Basic 429.9 429.9 429.9 ========== =========== ========= Income (Loss) Per Share - Diluted Income (loss) from continuing operations $ (0.05) $ (0.04) $ (0.01) Cumulative effect of change in accounting principles (0.03) (0.03) 0.00 ---------- ----------- --------- $ (0.08) $ (0.07) $ (0.01) ========== =========== ========= Average Number of Common and Common Equivalent Shares Outstanding - Diluted 429.9 429.9 429.9 ========== =========== ========= Three Months Ended June 30, 2001 -------------------------------------------- Impact of As Charges & (In millions, except per share amounts) Reported (a) Goodwill Pro Forma - --------------------------------------- ------------ ----------- ---------- Net Sales $ 836.2 $ 0.0 $ 836.2 Cost of sales 475.8 7.2 468.6 ---------- ----------- --------- Gross Profit 360.4 (7.2) 367.6 Advertising and promotion expenses 84.9 0.0 84.9 Other selling and administrative expenses 214.3 0.0 214.3 Restructuring and other charges 13.0 13.0 0.0 Other expense, net 2.7 0.6 2.1 ---------- ----------- --------- Operating Income Before Amortization 45.5 (20.8) 66.3 Amortization of other intangibles 1.2 0.0 1.2 ---------- ----------- --------- Operating Income Before Amortization of Goodwill 44.3 (20.8) 65.1 Amortization of goodwill 11.5 11.5 0.0 ---------- ----------- --------- Operating Income 32.8 (32.3) 65.1 Interest expense 39.6 0.0 39.6 ---------- ----------- --------- Income (Loss) Before Income Taxes (6.8) (32.3) 25.5 Provision (benefit) for income taxes (1.9) (8.9) 7.0 ---------- ----------- --------- Income (Loss) From Continuing Operations (4.9) (23.4) 18.5 Cumulative effect of change in accounting principles, net of tax 0.0 0.0 0.0 ---------- ----------- --------- Net Income (Loss) $ (4.9) $ (23.4) $ 18.5 ========== =========== ========= Income (Loss) Per Share - Basic Income (loss) from continuing operations $ (0.01) $ (0.05) $ 0.04 Cumulative effect of change in accounting principles 0.00 0.00 0.00 ---------- ----------- --------- $ (0.01) $ (0.05) $ 0.04 ========== =========== ========= Average Number of Common Shares Outstanding - Basic 430.9 430.9 430.9 ========== =========== ========= Income (Loss) Per Share - Diluted Income (loss) from continuing operations $ (0.01) $ (0.05) $ 0.04 Cumulative effect of change in accounting principles 0.00 0.00 0.00 ---------- ----------- --------- $ (0.01) $ (0.05) $ 0.04 ========== =========== ========= Average Number of Common and Common Equivalent Shares Outstanding - Diluted 430.9 430.9 430.9 ========== =========== ========= Three Months Ended Sept. 30, 2001 -------------------------------------------- Impact of As Charges & (In millions, except per share amounts) Reported (a) Goodwill Pro Forma - --------------------------------------- ------------ ----------- ---------- Net Sales $ 1,575.3 $ 0.0 $ 1,575.3 Cost of sales 840.0 10.2 829.8 ---------- ----------- --------- Gross Profit 735.3 (10.2) 745.5 Advertising and promotion expenses 174.9 0.0 174.9 Other selling and administrative expenses 230.3 0.0 230.3 Restructuring and other charges 0.0 0.0 0.0 Other expense, net 2.3 1.0 1.3 ---------- ----------- --------- Operating Income Before Amortization 327.8 (11.2) 339.0 Amortization of other intangibles 1.2 0.0 1.2 ---------- ----------- --------- Operating Income Before Amortization of Goodwill 326.6 (11.2) 337.8 Amortization of goodwill 11.5 11.5 0.0 ---------- ----------- --------- Operating Income 315.1 (22.7) 337.8 Interest expense 39.5 0.0 39.5 ---------- ----------- --------- Income (Loss) Before Income Taxes 275.6 (22.7) 298.3 Provision (benefit) for income taxes 75.8 (5.8) 81.6 ---------- ----------- --------- Income (Loss) From Continuing Operations 199.8 (16.9) 216.7 Cumulative effect of change in accounting principles, net of tax 0.0 0.0 0.0 ---------- ----------- --------- Net Income (Loss) $ 199.8 $ (16.9) $ 216.7 ========== =========== ========= Income (Loss) Per Share - Basic Income (loss) from continuing operations $ 0.46 $ (0.04) $ 0.50 Cumulative effect of change in accounting principles 0.00 0.00 0.00 ---------- ----------- --------- $ 0.46 $ (0.04) $ 0.50 ========== =========== ========= Average Number of Common Shares Outstanding - Basic 431.2 431.2 431.2 ========== =========== ========= Income (Loss) Per Share - Diluted Income (loss) from continuing operations $ 0.46 $ (0.04) $ 0.50 Cumulative effect of change in accounting principles 0.00 0.00 0.00 ---------- ----------- --------- $ 0.46 $ (0.04) $ 0.50 ========== =========== ========= Average Number of Common and Common Equivalent Shares Outstanding - Diluted 436.3 436.3 436.3 ========== =========== ========= Three Months Ended Dec. 31, 2001 -------------------------------------------- Impact of As Charges & (In millions, except per share amounts) Reported (a) Goodwill Pro Forma - --------------------------------------- ------------ ----------- ---------- Net Sales $ 1,561.2 $ 0.0 $ 1,561.2 Cost of sales 818.0 4.2 813.8 ---------- ----------- --------- Gross Profit 743.2 (4.2) 747.4 Advertising and promotion expenses 204.0 0.0 204.0 Other selling and administrative expenses 286.2 1.4 284.8 Restructuring and other charges 2.7 2.7 0.0 Other expense, net 5.9 2.9 3.0 ---------- ----------- --------- Operating Income Before Amortization 244.4 (11.2) 255.6 Amortization of other intangibles 1.3 0.0 1.3 ---------- ----------- --------- Operating Income Before Amortization of Goodwill 243.1 (11.2) 254.3 Amortization of goodwill 11.6 11.6 0.0 ---------- ----------- --------- Operating Income 231.5 (22.8) 254.3 Interest expense 41.1 0.0 41.1 ---------- ----------- --------- Income (Loss) Before Income Taxes 190.4 (22.8) 213.2 Provision (benefit) for income taxes 52.4 (5.9) 58.3 ---------- ----------- --------- Income (Loss) From Continuing Operations 138.0 (16.9) 154.9 Cumulative effect of change in accounting principles, net of tax 0.0 0.0 0.0 ---------- ----------- --------- Net Income (Loss) $ 138.0 $ (16.9) $ 154.9 ========== =========== ========= Income (Loss) Per Share - Basic Income (loss) from continuing operations $ 0.32 $ (0.04) $ 0.36 Cumulative effect of change in accounting principles 0.00 0.00 0.00 ---------- ----------- --------- $ 0.32 $ (0.04) $ 0.36 ========== =========== ========= Average Number of Common Shares Outstanding - Basic 431.8 431.8 431.8 ========== =========== ========= Income (Loss) Per Share - Diluted Income (loss) from continuing operations $ 0.31 $ (0.04) $ 0.35 Cumulative effect of change in accounting principles 0.00 0.00 0.00 ---------- ----------- --------- $ 0.31 $ (0.04) $ 0.35 ========== =========== ========= Average Number of Common and Common Equivalent Shares Outstanding - Diluted 437.5 437.5 437.5 ========== =========== ========= Year Ended Dec. 31, 2001 -------------------------------------------- Impact of As Charges & (In millions, except per share amounts) Reported (a) Goodwill Pro Forma - --------------------------------------- ------------ ----------- ---------- Net Sales $ 4,687.9 $ 0.0 $ 4,687.9 Cost of sales 2,539.0 28.2 2,510.8 ---------- ----------- --------- Gross Profit 2,148.9 (28.2) 2,177.1 Advertising and promotion expenses 543.5 0.3 543.2 Other selling and administrative expenses 936.1 1.5 934.6 Restructuring and other charges 15.7 15.7 0.0 Other expense, net 17.4 10.0 7.4 ---------- ----------- --------- Operating Income Before Amortization 636.2 (55.7) 691.9 Amortization of other intangibles 5.0 0.0 5.0 ---------- ----------- --------- Operating Income Before Amortization of Goodwill 631.2 (55.7) 686.9 Amortization of goodwill 46.1 46.1 0.0 ---------- ----------- --------- Operating Income 585.1 (101.8) 686.9 Interest expense 155.1 0.0 155.1 ---------- ----------- --------- Income (Loss) Before Income Taxes 430.0 (101.8) 531.8 Provision (benefit) for income taxes 119.1 (26.4) 145.5 ---------- ----------- --------- Income (Loss) From Continuing Operations 310.9 (75.4) 386.3 Cumulative effect of change in accounting principles, net of tax (12.0) (12.0) 0.0 ---------- ----------- --------- Net Income (Loss) $ 298.9 $ (87.4) $ 386.3 ========== =========== ========= Income (Loss) Per Share - Basic Income (loss) from continuing operations $ 0.72 $ (0.18) $ 0.90 Cumulative effect of change in accounting principles (0.03) (0.03) 0.00 ---------- ----------- --------- $ 0.69 $ (0.21) $ 0.90 ========== =========== ========= Average Number of Common Shares Outstanding - Basic 431.0 431.0 431.0 ========== =========== ========= Income (Loss) Per Share - Diluted Income (loss) from continuing operations $ 0.71 $ (0.18) $ 0.89 Cumulative effect of change in accounting principles (0.03) (0.03) 0.00 ---------- ----------- --------- $ 0.68 $ (0.21) $ 0.89 ========== =========== ========= Average Number of Common and Common Equivalent Shares Outstanding - Diluted 436.2 436.2 436.2 ========== =========== =========
(a) Reported in accordance with Generally Accepted Accounting Principles and restated from previously reported amounts to reflect reclassifications for the impact of EITF Issue No. 01-09, "Accounting for Consideration Given by a Vender to a Customer." EX-99.3 6 dex993.txt QUARTERLY FINANCIAL INFORMATION EXHIBIT 99.3 MATTEL, INC. AND SUBSIDIARIES QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
First Second Third Fourth Quarter Quarter Quarter Quarter -------- -------- ---------- ---------- (In thousands, except per share amounts) Year Ended December 31, 2001 Net sales (a)........................ $715,166 $836,280 $1,575,246 $1,561,233 Gross profit (a)..................... 309,989 360,470 735,305 743,171 Advertising and promotion expenses (a)........................ 79,663 84,927 174,911 204,054 Other selling and administrative expenses............................ 205,319 214,303 230,264 286,192 Restructuring and other charges...... -- 13,000 -- 2,700 Other expense, net................... 6,483 2,737 2,258 5,838 Income (loss) from continuing operations before income taxes...... (29,230) (6,792) 275,591 190,441 Income (loss) from continuing operations.......................... (22,038) (4,855) 199,835 137,978 Cumulative effect of change in accounting principles............... (12,001) -- -- -- Net income (loss) applicable to common shares....................... (34,039) (4,855) 199,835 137,978 Basic income (loss) per common share: Income (loss) from continuing operations........................ $ (0.05) $ (0.01) $ 0.46 $ 0.32 Cumulative effect of change in accounting principles............. (0.03) -- -- -- Net income (loss).................. $ (0.08) $ (0.01) $ 0.46 $ 0.32 Weighted average number of common shares............................ 429,936 430,909 431,250 431,813 Diluted income (loss) per common share: Income (loss) from continuing operations........................ $ (0.05) $ (0.01) $ 0.46 $ 0.31 Cumulative effect of change in accounting principles............. (0.03) -- -- -- Net income (loss).................. $ (0.08) $ (0.01) $ 0.46 $ 0.31 Weighted average number of common and common equivalent shares ..... 429,936 430,909 436,316 437,505 Dividends declared per common share.. $ -- $ -- $ -- $ 0.05 Common stock market price: High............................... $ 18.80 $ 18.92 $ 18.97 $ 19.75 Low................................ 13.70 15.44 15.19 15.24
First Second Third Fourth Quarter Quarter Quarter Quarter -------- -------- ---------- ---------- (In thousands, except per share amounts) Year Ended December 31, 2000 Net sales (a)...................... $679,620 $803,002 $1,549,577 $1,533,290 Gross profit (a)................... 299,943 348,311 631,659 713,329 Advertising and promotion expenses (a)...................... 76,873 83,018 190,250 228,193 Other selling and administrative expenses.......................... 254,199 218,711 224,695 269,393 Restructuring and other charges.... -- (2,000) 17,900 -- Other (income) expense, net........ (6,373) (9,026) 7,656 9,350 Income (loss) from continuing operations before income taxes ... (61,644) 8,290 135,258 143,520 Income (loss) from continuing operations........................ (44,630) 6,005 103,694 105,108 Loss from discontinued operations (b)............................... (126,606) -- (440,560) (33,980) Net income (loss) applicable to common shares..................... (171,236) 6,005 (336,866) 71,128 Basic income (loss) per common share: Income (loss) from continuing operations...................... $ (0.10) $ 0.01 $ 0.24 $ 0.25 Loss from discontinued operations (b)............................. (0.30) -- (1.03) (0.08) Net income (loss)................ $ (0.40) $ 0.01 $ (0.79) $ 0.17 Weighted average number of common shares.......................... 425,495 425,818 426,394 426,949 Diluted income (loss) per common share: Income (loss) from continuing operations...................... $ (0.10) $ 0.01 $ 0.24 $ 0.25 Loss from discontinued operations (b)............................. (0.30) -- (1.03) (0.08) Net income (loss)................ $ (0.40) $ 0.01 $ (0.79) $ 0.17 Weighted average number of common and common equivalent shares ... 425,495 427,782 426,945 428,457 Dividends declared per common share............................. $ 0.09 $ 0.09 $ 0.09 $ -- Common stock market price: High............................. $ 13.75 $ 15.00 $ 13.81 $ 14.44 Low.............................. 9.06 10.50 9.89 10.81
(a) In first quarter 2002, Mattel implemented Emerging Issues Task Force Issue No. 01-09, Accounting for Consideration Given by a Vendor to a Customer. Net sales, gross profit and advertising and promotion expenses have been restated to reflect the reclassification of sales incentives or certain consideration offered by Mattel to its vendors as a result of implementing this Issue. (b) As more fully described in Note 13 to the Consolidated Financial Statements, the Consumer Software segment, which was comprised primarily of Learning Company, was reported as a discontinued operation effective March 31, 2000, and the consolidated financial statements were reclassified to segregate the net investment in, and the liabilities and operating results of the Consumer Software segment. EX-99.4 7 dex994.txt FIVE-YEAR FINANCIAL SUMMARY EXHIBIT 99.4 MATTEL, INC. AND SUBSIDIARIES FIVE-YEAR FINANCIAL SUMMARY
For the Year Ended December 31, (a)(b)(c) ---------------------------------------------------------- 2001 2000 1999 1998 1997 ---------- ---------- ---------- ---------- ---------- (In thousands, except per share and percentage information) Operating Results: Net sales(c) ........... $4,687,924 $4,565,489 $4,502,769 $4,579,494 $4,646,375 Gross profit(c)......... 2,148,934 1,993,242 2,067,240 2,154,502 2,224,090 % of net sales(c)..... 45.8% 43.7% 45.9% 47.0% 47.9% Operating profit (d).... 585,142 378,403 301,773 570,279 515,212 % of net sales(c)..... 12.5% 8.3% 6.7% 12.5% 11.1% Income from continuing operations before income taxes, cumulative effect of change in accounting principles and extraordinary item..... 430,010 225,424 170,164 459,446 425,082 Provision for income taxes.................. 119,090 55,247 61,777 131,193 135,288 Income from continuing operations before cumulative effect of change in accounting principles and extraordinary item..... 310,920 170,177 108,387 328,253 289,794 Loss from discontinued operations (a)......... -- (601,146) (190,760) (122,200) (467,905) Cumulative effect of change in accounting principles............. (12,001) -- -- -- -- Extraordinary item-loss on early retirement of debt................... -- -- -- -- (4,610) Net income (loss)....... 298,919 (430,969) (82,373) 206,053 (182,721) Income (Loss) Per Common Share (e): Income (loss) per common share--Basic Income from continuing operations........... 0.72 0.40 0.25 0.82 0.76 Loss from discontinued operations (a)....... -- (1.41) (0.46) (0.31) (1.27) Cumulative effect of change in accounting principles........... (0.03) -- -- -- -- Extraordinary item.... -- -- -- -- (0.01) Net income (loss)..... 0.69 (1.01) (0.21) 0.51 (0.52) Income (loss) per common share--Diluted Income from continuing operations........... 0.71 0.40 0.25 0.76 0.74 Loss from discontinued operations (a)....... -- (1.41) (0.45) (0.29) (1.24) Cumulative effect of change in accounting principles........... (0.03) -- -- -- -- Extraordinary item.... -- -- -- -- (0.01) Net income (loss)..... 0.68 (1.01) (0.20) 0.47 (0.51) Dividends Declared Per Common Share (e)....... 0.05 0.27 0.35 0.31 0.27 As of Year End (a)(b) ---------------------------------------------------------- 2001 2000 1999 1998 1997 ---------- ---------- ---------- ---------- ---------- (In thousands) Financial Position: Total assets............ $4,540,561 $4,313,397 $4,673,964 $4,612,770 $3,915,059 Long-term liabilities... 1,205,122 1,407,892 1,145,856 1,124,756 808,297 Stockholders' equity.... 1,738,458 1,403,098 1,962,687 2,170,803 1,933,338
- -------- (a) Financial data for 1997 through 1999 reflect the retroactive effect of the merger, accounted for as a pooling of interests, with The Learning Company, Inc. ("Learning Company") in May 1999. As more fully described in Note 13 to the Consolidated Financial Statements, the Consumer Software segment, which was comprised primarily of Learning Company, was reported as a discontinued operation effective March 31, 2000, and the consolidated financial statements were reclassified to segregate the net investment in, and the liabilities and operating results of the Consumer Software segment. (b) Consolidated financial information for 1997 has been restated retroactively for the effects of the March 1997 merger with Tyco Toys, Inc. ("Tyco"), accounted for as a pooling of interests. (c) In first quarter 2002, Mattel implemented Emerging Issues Task Force Issue No. 01-09, Accounting for Consideration Given by a Vendor to a Customer. Net sales, gross profit and advertising and promotion expenses have been restated to reflect the reclassification of sales incentives or certain consideration offered by Mattel to its vendors as a result of implementing this Issue. (d) Represents income from continuing operations before interest expense and provision for income taxes. (e) Per share data reflect the retroactive effect of the mergers with Learning Company and Tyco in 1999 and 1997, respectively. -----END PRIVACY-ENHANCED MESSAGE-----