Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2026

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

The following tables present changes in the accumulated balances for each component of other comprehensive income (loss), including current period other comprehensive income (loss) and reclassifications from accumulated other comprehensive income (loss):

	For the Three Months Ended March 31, 2026
	Derivative Instruments		Employee Benefit Plans		Currency Translation Adjustments		Total
	(In thousands)
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of December 31, 2025	$	(16,716)	$	(126,212)	$	(747,638)	$	(890,566)
Other comprehensive income (loss) before reclassifications	7,129		754		(5,954)		1,929
Amounts reclassified from accumulated other comprehensive income (loss)	1,821		813		2,717		5,351
Net change in other comprehensive income (loss)	8,950		1,567		(3,237)		7,280
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of March 31, 2026	$	(7,766)	$	(124,645)	$	(750,875)	$	(883,286)

	For the Three Months Ended March 31, 2025
	Derivative Instruments		Employee Benefit Plans		Currency Translation Adjustments		Total
	(In thousands)
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of December 31, 2024	$	14,307	$	(139,663)	$	(869,096)	$	(994,452)
Other comprehensive income (loss) before reclassifications	(9,223)		37		53,618		44,432
Amounts reclassified from accumulated other comprehensive income (loss)	2,185		1,248		—		3,433
Net change in other comprehensive income (loss)	(7,038)		1,285		53,618		47,865
Accumulated Other Comprehensive Income (Loss), Net of Tax, as of March 31, 2025	$	7,269	$	(138,378)	$	(815,478)	$	(946,587)

The following tables present the classification and amount of the reclassifications from accumulated other comprehensive income (loss) to the consolidated statements of operations:

	For the Three Months Ended
	March 31, 2026		March 31, 2025		Statements of Operations Classification
	(In thousands)
Derivative Instruments:
Loss on foreign currency forward exchange and other contracts	$	(1,852)	$	(2,188)	Cost of sales
Tax effect	31		3		Provision/benefit from income taxes
	$	(1,821)	$	(2,185)	Net income/loss
Employee Benefit Plans:
Amortization of prior service (cost) credit (a)	$	(50)	$	450	Other non-operating income/expense, net
Recognized actuarial loss (a)	(2,041)		(2,092)		Other non-operating income/expense, net
	(2,091)		(1,642)
Tax effect	1,278		394		Provision/benefit from income taxes
	$	(813)	$	(1,248)	Net income/loss

(a)The amortization of prior service (cost) credit and recognized actuarial loss are included in the computation of net periodic benefit cost. Refer to "Note 16 to the Consolidated Financial Statements—Employee Benefit Plans" for additional information regarding Mattel's net periodic benefit cost.

Currency Translation Adjustments

During the three months ended March 31, 2026, currency translation adjustments, before reclassification, resulted in a net loss of $6.0 million, primarily due to the general strengthening of the U.S. dollar against key currencies, including the British pound sterling. In connection with the acquisition of Mattel163, $2.7 million of accumulated currency translation losses related to Mattel's previously held equity interest were recognized in other non-operating (income) expense, net within the consolidated statement of operations.

During the three months ended March 31, 2025, currency translation adjustments resulted in a net gain of $53.6 million, primarily due to the weakening of the U.S. dollar against the Russian ruble and British pound sterling.