Segment Information (Tables)

12 Months Ended

Dec. 31, 2025

The following tables present information regarding segment income and significant expense information for Mattel's reportable segments. Unallocated corporate and other operating expenses include operating costs not allocated to individual segments, including charges related to incentive and share-based compensation, corporate headquarters functions managed on a worldwide basis, the impact of changes in foreign currency exchange rates on intercompany transactions, and certain severance and other restructuring costs. It is impracticable for Mattel to present net sales by categories, brands, or products, as trade discounts and other allowances are generally recorded in the financial accounting systems by customer.


	For the Year Ended
	December 31, 2025		December 31, 2024		December 31, 2023
	(In thousands)
North America Segment:
Net sales	$	3,001,070	$	3,168,069	$	3,210,436
Less:
Cost of sales (a)	1,571,026		1,602,047		1,723,162
Advertising and promotion expenses	244,976		245,037		251,738
Other selling and administrative expenses	480,331		480,997		447,793
North America segment expenses	2,296,333		2,328,081		2,422,693
North America segment income	$	704,737	$	839,988	$	787,743

International Segment:
Net sales	$	2,346,553	$	2,211,477	$	2,230,783
Less:
Cost of sales (a)	1,180,177		1,137,859		1,233,055
Advertising and promotion expenses	277,024		262,284		273,048
Other selling and administrative expenses	444,338		422,357		425,596
International segment expenses	1,901,539		1,822,500		1,931,699
International segment income	$	445,014	$	388,977	$	299,084

Total Reportable Segments:
Net sales	$	5,347,623	$	5,379,546	$	5,441,219
Less:
Total segment expenses	4,197,872		4,150,581		4,354,392
Total segment income	$	1,149,751	$	1,228,965	$	1,086,827

(a)Cost of sales included severance and other restructuring charges of approximately $8 million, $4 million, and $(1) million for 2025, 2024, and 2023, respectively, which was allocated to the North America and International segments.

The following table is a reconciliation of segment income to income before income taxes for the periods indicated:


	For the Year Ended
	December 31, 2025		December 31, 2024		December 31, 2023
	(In thousands)
Total segment income	$	1,149,751	$	1,228,965	$	1,086,827
Unallocated corporate and other operating expenses (a)	603,327		534,683		525,168
Total operating income	546,424		694,282		561,659
Interest expense	118,681		118,774		123,786
Interest (income)	(45,021)		(51,478)		(25,238)
Other non-operating expense (income), net	13,275		4,481		(2,293)
Income before income taxes	$	459,489	$	622,505	$	465,404

(a)Unallocated corporate and other operating expenses included 1) incentive compensation expense of approximately $83 million, $151 million, and $138 million for 2025, 2024, and 2023, respectively, 2) equity compensation expense of approximately $80 million, $79 million, and $83 million for 2025, 2024, and 2023, respectively, and 3) severance and other restructuring charges of approximately $39 million, $44 million, and $61 million for 2025, 2024, and 2023, respectively.

Summary of Additional Segment Information

The following tables present information regarding depreciation and amortization by segment, as well as assets by segment.


	For the Year Ended
	December 31, 2025		December 31, 2024		December 31, 2023
	(In thousands)
Depreciation and Amortization by Segment
North America	$	91,641	$	94,282	$	97,456
International	56,417		54,611		59,876
	148,058		148,893		157,332
Corporate and other	19,927		19,070		20,012
Depreciation and amortization	$	167,985	$	167,963	$	177,344

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


	December 31, 2025		December 31, 2024		December 31, 2023
	(In thousands)
Assets by Segment
North America	$	810,153	$	757,552	$	845,113
International	760,346		651,738		735,236
	1,570,499		1,409,290		1,580,349
Corporate and other	90,247		95,620		73,087
Accounts receivable and inventories, net	$	1,660,746	$	1,504,910	$	1,653,436

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

The tables below present information regarding Mattel's net sales and long-lived assets by geographic area. Net sales were attributed to countries based on the location of the customer. Long-lived assets included property, plant, and equipment, net, and right-of-use assets, net.


	For the Year Ended
	December 31, 2025		December 31, 2024		December 31, 2023
	(In thousands)
Net Sales by Geographic Area
North America Region (a)	$	3,001,070	$	3,168,069	$	3,210,436
International Region
EMEA	1,342,122		1,240,444		1,241,483
Latin America	602,544		608,218		658,018
Asia Pacific	401,887		362,815		331,282
Total International Region	2,346,553		2,211,477		2,230,783
Net sales	$	5,347,623	$	5,379,546	$	5,441,219


	December 31, 2025		December 31, 2024		December 31, 2023
	(In thousands)
Long-Lived Assets
North America Region (b)	$	423,383	$	415,213	$	337,527
International Region	486,180		427,230		441,187
Consolidated total	$	909,563	$	842,443	$	778,714

(a)Net sales for the North America Region included net sales attributable to the United States of $2.85 billion, $3.02 billion, and $3.05 billion for 2025, 2024, and 2023, respectively.

(b)Long-lived assets for the North America Region included long-lived assets attributable to the United States of $406.7 million, $399.4 million, and $319.3 million for 2025, 2024, and 2023, respectively.