Goodwill and Identifiable Intangible Assets, Net

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Identifiable Intangible Assets, Net

Goodwill and Identifiable Intangible Assets, Net

Goodwill

Mattel's reporting units are: (i) North America, which consists of the United States and Canada, (ii) International, and (iii) American Girl. Goodwill related to the American Girl reporting unit is included in the North America operating segment. Mattel's reportable segments are: (i) North America and (ii) International. Certain components of the operating segments have been aggregated into a single reporting unit as the components have similar economic characteristics. The similar economic characteristics include the nature of the products, the nature of the production processes, the customers, and the manner in which the products are distributed. Mattel tests its goodwill for impairment annually in the third quarter and whenever events or changes in circumstances indicate that the carrying amount of a reporting unit may exceed its fair value.

Mattel performed a quantitative goodwill impairment assessment as of August 1, 2025, and determined that goodwill was not impaired. The quantitative goodwill impairment assessment includes the use of certain assumptions and estimates to calculate the estimated fair value of Mattel's reporting units. To the extent assumptions, estimates, or market factors, including seasonality, differ from Mattel's current estimates, the estimated fair value of Mattel's reporting units may be susceptible to significant changes. The reporting unit that is most susceptible to changes in assumptions and estimates, given its smaller size, is American Girl, as excess fair value over carrying value is a lesser dollar and percentage value than the other reporting units.

The change in the carrying amount of goodwill by reporting unit for the three months ended March 31, 2026 is shown below. Mattel recognized additions to goodwill of approximately $196 million during the three months ended March 31, 2026 related to the acquisition of Mattel163. Brand-specific goodwill held by foreign subsidiaries is allocated to Mattel's reporting units based on the reporting unit selling those brands, thereby causing foreign currency translation impact.

	December 31, 2025		Acquisition		Currency Exchange Rate Impact		March 31, 2026
	(In thousands)
North America	$	735,207	$	125,324	$	(577)	$	859,954
International	447,391		70,496		(1,470)		516,417
American Girl	207,571		—		—		207,571
	$	1,390,169	$	195,820	$	(2,047)	$	1,583,942

Identifiable Intangible Assets, Net

Mattel's identifiable intangible assets, net consisted of the following:

	March 31, 2026		March 31, 2025		December 31, 2025
	(In thousands)
Identifiable intangible assets	$	966,800	$	803,872	$	808,830
Less: accumulated amortization	(480,531)		(447,970)		(471,725)
	$	486,269	$	355,902	$	337,105

Mattel's amortizable identifiable intangible assets primarily consist of trademarks, trade names, and developed technology. Mattel recognized additions to amortizable identifiable intangible assets of approximately $161 million during the three months ended March 31, 2026 related to the acquisition of Mattel163. Mattel tests its amortizable identifiable intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the intangible asset may not be recoverable. Mattel's amortizable intangible assets were not impaired during the three months ended March 31, 2026 and 2025.