EL SEGUNDO, Calif.,
July 16, 2015 /PRNewswire/
-- For the second quarter of 2015, Mattel, Inc. (NASDAQ: MAT)
today reported flat worldwide net sales in constant currency,
adjusted operating income of $23.0
million and adjusted earnings per share of $0.01.
"In the second quarter, we made solid progress as we work to
return Mattel to improved growth and profitability," said
Christopher Sinclair, Mattel
Chairman and CEO. "Our financial results in the quarter largely met
our expectations, and we are encouraged by improved performance
across our core brands, as well as strong momentum in emerging
markets like China and
Russia. Although we are still
early in our turnaround effort, I believe we are taking all the
right steps to be more competitive in the growing global toy
industry."
1 Please refer to Non-GAAP Financial Measures
for a glossary of definitions of non-GAAP financial measures used
herein, including gross sales, constant currency, adjusted
operating income, adjusted earnings (loss) per share, adjusted
gross margin and adjusted other selling and administrative
expenses.
2 Consists of the
United States, Canada and
American Girl.
Financial Overview
For the quarter, worldwide net sales were flat in constant
currency compared to last year. In the North American Region, which
consists of the United States,
Canada and American Girl, second
quarter gross sales decreased 2% in constant currency, and 3% as
reported. In the International Region, gross sales increased by 5%
in constant currency, and decreased 10% as reported. Adjusted gross
margin increased 70 basis points as adjusted and 150 basis points
as reported. Adjusted other selling and administrative expenses
increased 70 basis points of net sales, and 30 basis points as
reported. Adjusted operating income for the quarter was
$23.0 million, compared to prior
year's adjusted operating income of $38.1
million.
The Company's debt-to-total capital ratio as of June 30, 2015 was 45.0%.
Cash flows used for operating activities were approximately
$241 million, compared to
approximately $79 million in 2014.
Cash flows used for investing activities were approximately
$161 million, a decrease of
approximately $364 million, primarily
due to the prior year acquisition of MEGA Brands. Cash flows used
for financing activities and other were approximately $269 million, compared to cash flows from
financing activities and other of approximately $83 million in 2014. The change was primarily
driven by prior year net proceeds from net long-term borrowings,
partially offset by prior year share repurchases.
Capital Deployment
The Board of Directors declared a third quarter cash dividend of
$0.38 per share, which is flat
compared to the third quarter of 2014. The dividend will be payable
on September 18, 2015 to stockholders
of record on August 26, 2015.
Sales by Brand
Mattel Girls and Boys Brands
For the second quarter, worldwide gross sales for Mattel Girls
& Boys Brands were $601.8
million, down 3% in constant currency versus the prior year.
Worldwide gross sales for the Barbie brand were down 11% in
constant currency. Consistent with the first quarter, year-to-date
retail sales for Barbie are up slightly on a global basis, driven
by strong performance in the United
States, partially offset by a decline in international
markets. Worldwide gross sales for Other Girls brands were down 6%
in constant currency. Worldwide gross sales for the Wheels
category, which includes the Hot Wheels and Matchbox®
brands, were up 26% in constant currency. Worldwide gross sales for
the Entertainment business, which includes Radica® and
Games, were down 16% in constant currency.
Fisher-Price Brands
Second quarter worldwide gross sales for Fisher-Price Brands,
which includes the Fisher-Price Core, Fisher-Price Friends and
Power Wheels® brands, were $336.8
million, up 9% in constant currency versus the prior
year.
American Girl Brands
Second quarter gross sales for American Girl Brands, which
offers American Girl-branded products directly to consumers, were
$84.2 million, up 1% versus the prior
year in constant currency.
Construction and Arts & Crafts Brands
Second quarter gross sales for Construction and Arts &
Crafts Brands, which includes the MEGA BLOKS® and
RoseArt® brands, were $64.8
million. Mattel acquired MEGA Brands Inc. on April 30, 2014.
Conference Call and Live Webcast
At 5:00 p.m. (Eastern Time) today,
Mattel will host a conference call with investors and financial
analysts to discuss its 2015 second quarter financial results. The
conference call will be webcast on the "Investors" section of the
Company's corporate website: http://corporate.mattel.com/. To
listen to the live call, log in to the website at least 15 minutes
early to register, download and install any necessary audio
software. An archive of the webcast will be available on the
company's website for 90 days and may be accessed beginning two
hours after the completion of the live call. A telephonic replay of
the call will be available beginning at 8:00
p.m. Eastern time the day of the call until Friday, July 24, 2015, and may be accessed by
dialing +1-404-537-3406. The passcode is 67921610.
Forward-Looking Statements
This press release contains forward-looking statements on a
variety of matters. These forward-looking statements are based on
currently available operating, financial, economic and other
information and are subject to a number of significant risks and
uncertainties. A variety of factors, many of which are beyond our
control, could cause actual future results to differ materially
from those projected in the forward-looking statements. Some of
these factors are described in the Company's periodic filings with
the Securities and Exchange Commission, including the "Risk
Factors" section of Mattel's Annual Report on Form 10-K for the
fiscal year ended December 31, 2014
and Mattel's Quarterly Reports on Form 10-Q for fiscal year 2015,
as well as in Mattel's other public statements. Mattel does not
update forward-looking statements and expressly disclaims any
obligation to do so.
Non-GAAP Financial Measures
To supplement the financial results presented in accordance with
generally accepted accounting principles in the United States ("GAAP"), Mattel discloses
certain non-GAAP financial measures within the meaning of
Regulation G promulgated by the Securities and Exchange Commission.
The non-GAAP financial measures presented in this release include
gross sales, adjusted gross margin, adjusted other selling and
administrative expenses, adjusted operating income, adjusted
earnings (loss) per share and constant currency. Mattel uses
these metrics to analyze its continuing operations and to monitor,
assess and identify meaningful trends in its operating and
financial performance, and are discussed in more detail below.
These measures are not, and should not be viewed as, substitutes
for GAAP financial measures. Reconciliations of the non-GAAP
financial measures to the most directly comparable GAAP financial
measures can be found in the attached exhibits and also will be
available at the time of our conference call and webcast
(information above) in the "Investors" section of our corporate
website, http://corporate.mattel.com/, under the subheading
"Financial Information – Earnings Releases."
Gross sales
Gross sales represent sales to customers, excluding the impact
of sales adjustments. Net sales, as reported, include the impact of
sales adjustments, such as trade discounts and other allowances.
Mattel presents changes in gross sales as a metric for comparing
its aggregate, brand and geographic results to highlight
significant trends in Mattel's business. Changes in gross sales are
discussed because, while Mattel records the detail of such sales
adjustments in its financial accounting systems at the time of
sale, such sales adjustments are generally not associated with
individual products, making net sales less meaningful.
Adjusted gross margin
Adjusted gross margin represents Mattel's reported gross profit,
adjusted to exclude the impact of inventory fair value markup above
cost associated with the acquisition of a business, as a percentage
of net sales. Adjusted gross margin is presented to provide
additional perspective on underlying trends in Mattel's core gross
profit.
Adjusted other selling and administrative expenses
Adjusted other selling and administrative expenses represents
Mattel's reported other selling and administrative expenses,
adjusted to exclude the impact of expenses associated with the
acquisition and integration of an acquired business and
restructuring and restructuring-related expenses. Adjusted other
selling and administrative expenses is presented to provide
additional perspective on underlying trends in Mattel's core other
selling and administrative expenses.
Adjusted operating income
Adjusted operating income represents Mattel's reported operating
income, adjusted to exclude the impact of inventory fair value
markup above cost associated with the acquisition of a business,
expenses associated with the acquisition and integration of an
acquired business and the impact of restructuring and
restructuring-related expenses. Adjusted operating income is
presented to provide additional perspective on underlying trends in
Mattel's core operating results.
Adjusted earnings (loss) per share
Adjusted earnings per share represents Mattel's reported diluted
earnings per common share, adjusted to exclude the impact of
inventory fair value markup above cost associated with the
acquisition of a business, expenses associated with the acquisition
and integration of an acquired business, the impact of
restructuring and restructuring-related expenses and certain tax
benefits. Each adjustment is tax effected, if necessary, and
divided by the reported weighted average number of common and
potential common shares to determine the per-share impact of the
adjustment. Adjusted earnings per share is presented to provide
additional perspective on underlying trends in Mattel's core
earnings.
Constant currency
Percentage changes in results expressed in constant currency are
presented excluding the impact from changes in currency exchange
rates. To present this information, current period and prior period
results for entities reporting in currencies other than U.S. dollar
are translated to U.S. dollars using consistent exchange rates,
rather than using the actual exchange rate in effect during the
respective periods. 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
underlying trends in Mattel's operating performance.
About Mattel
The Mattel family of companies (Nasdaq: MAT) is a worldwide
leader in the design, manufacture and marketing of toys and family
products. Mattel's portfolio of best-selling brands includes
Barbie®, the most popular fashion doll ever produced, Hot Wheels®,
Monster High®, American Girl®, Thomas & Friends®, Fisher-Price®
brands and MEGA® Brands, as well as a wide array of
entertainment-inspired toy lines. In 2014, Mattel was named one of
the "World's Most Ethical Companies" by Ethisphere Magazine and in
2014 ranked No. 5 on Corporate Responsibility Magazine's "100 Best
Corporate Citizens" list. With worldwide headquarters in
El Segundo, Calif., Mattel's
companies employ approximately 31,000 people in 40 countries and
territories and sell products in more than 150 nations. Visit us at
www.mattel.com, www.facebook.com/mattel or
www.twitter.com/mattel.
MAT-FIN MAT-CORP
MATTEL, INC. AND
SUBSIDIARIES
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EXHIBIT
I
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CONSOLIDATED
STATEMENTS OF OPERATIONS (Unaudited)
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For the Three
Months Ended June 30,
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For the Six Months
Ended June 30,
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2015
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2014
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Yr /
Yr
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2015
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2014
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Yr /
Yr
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(In millions, except
per share and percentage
information)
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$
Amt
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% Net
Sales
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$
Amt
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% Net
Sales
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%
Change
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$
Amt
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% Net
Sales
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$
Amt
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% Net
Sales
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%
Change
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Net
Sales
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$
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988.2
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$
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1,062.3
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-7%
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$
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1,910.9
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$
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2,008.4
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-5%
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Cost of
sales
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515.3
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52.1%
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569.7
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53.6%
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-10%
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987.6
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51.7%
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1,034.3
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51.5%
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-5%
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Gross
Profit
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472.9
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47.9%
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492.6
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46.4%
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-4%
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923.3
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48.3%
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974.1
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48.5%
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-5%
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Advertising and promotion expenses
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104.7
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10.6%
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99.9
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9.4%
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5%
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207.2
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10.8%
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190.7
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9.5%
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9%
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Other
selling and administrative expenses
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367.6
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37.2%
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391.7
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36.9%
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-6%
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770.0
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40.3%
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776.2
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38.6%
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-1%
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Operating Income
(Loss)
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0.6
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0.1%
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1.0
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0.1%
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-44%
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(53.9)
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-2.8%
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7.2
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0.4%
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-846%
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Interest
expense
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20.7
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2.1%
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19.0
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1.8%
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9%
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41.1
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2.2%
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36.2
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1.8%
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14%
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Interest
(income)
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(2.1)
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-0.2%
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(2.2)
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-0.2%
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-4%
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(3.8)
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-0.2%
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(3.5)
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-0.2%
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9%
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Other
non-operating expense (income), net
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1.9
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(1.4)
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1.8
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(1.7)
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Loss Before Income
Taxes
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(19.9)
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-2.0%
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(14.4)
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-1.4%
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38%
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(93.0)
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-4.9%
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(23.8)
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-1.2%
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291%
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(Benefit) for income taxes
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(8.5)
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(42.7)
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(23.5)
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(40.9)
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Net (Loss)
Income
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$
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(11.4)
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-1.1%
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$
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28.3
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2.7%
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-140%
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$
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(69.5)
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-3.6%
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$
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17.1
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0.9%
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-506%
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Net (Loss) Income
Per Common Share - Basic
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$
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(0.03)
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$
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0.08
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$
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(0.21)
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$
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0.05
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Weighted
average number of common shares
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338.8
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338.7
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338.7
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339.5
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Net (Loss) Income
Per Common Share - Diluted
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$
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(0.03)
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$
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0.08
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$
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(0.21)
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$
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0.05
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Weighted
average number of common and
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potential
common shares
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338.8
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340.6
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338.7
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341.6
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MATTEL, INC. AND
SUBSIDIARIES
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EXHIBIT
II
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CONDENSED
CONSOLIDATED BALANCE SHEETS
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June
30,
|
|
December
31,
|
|
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2015
|
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2014
(a)
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2014
(a)
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(In
millions)
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(Unaudited)
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Assets
|
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Cash and
equivalents
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$
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300.5
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$
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518.2
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$
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971.7
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Accounts
receivable, net
|
|
803.1
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884.1
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1,094.5
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Inventories
|
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853.8
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882.8
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561.8
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Prepaid
expenses and other current assets
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572.3
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602.9
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558.9
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Total current
assets
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2,529.7
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2,888.0
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3,186.9
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Property, plant, and equipment, net
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733.0
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703.4
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737.9
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Other
noncurrent assets
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2,835.1
|
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2,896.8
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2,797.2
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Total
Assets
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$
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6,097.8
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$
|
6,488.2
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$
|
6,722.0
|
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Liabilities and
Stockholders' Equity
|
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Short-term borrowings
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$
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-
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$
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20.5
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$
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-
|
Accounts
payable and accrued liabilities
|
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881.9
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866.4
|
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1,070.1
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Income
taxes payable
|
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7.8
|
|
20.7
|
|
18.8
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Total current
liabilities
|
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889.7
|
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907.6
|
|
1,088.9
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Long-term debt
|
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2,100.0
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2,100.0
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2,100.0
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Other
noncurrent liabilities
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|
543.6
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|
529.0
|
|
584.0
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Stockholders' equity
|
|
2,564.5
|
|
2,951.6
|
|
2,949.1
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Total Liabilities
and Stockholders' Equity
|
$
|
6,097.8
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$
|
6,488.2
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$
|
6,722.0
|
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SUPPLEMENTAL
BALANCE SHEET AND CASH FLOW DATA (Unaudited)
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|
|
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|
|
June
30,
|
|
|
(In millions,
except days and percentage information)
|
|
2015
|
|
2014
|
|
|
|
|
|
|
|
|
|
Key Balance Sheet
Data:
|
|
|
|
|
|
|
Accounts receivable,
net days of sales outstanding (DSO)
|
|
73
|
|
74
|
|
|
Total debt
outstanding
|
|
$ 2,100.0
|
|
$ 2,120.5
|
|
|
Total debt-to-total
capital ratio
|
|
45.0%
|
|
41.8%
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended
June 30,
|
|
|
(In
millions)
|
|
2015
(b)
|
|
2014
|
|
|
|
|
|
|
|
|
|
Condensed Cash
Flow Data:
|
|
|
|
|
|
|
Cash flows (used for)
operating activities
|
|
$ (241)
|
|
$ (79)
|
|
|
|
|
|
|
|
|
|
Cash flows (used for)
investing activities
|
|
(161)
|
|
(525)
|
|
|
|
|
|
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Cash flows (used for)
from financing activities and other
|
|
(269)
|
|
83
|
|
|
|
|
|
|
|
|
|
Decrease in cash and
equivalents
|
|
$ (671)
|
|
$ (521)
|
|
|
|
(a) Certain balances
related to the acquisition of MEGA Brands have been retrospectively
adjusted to reflect their final acquisition-date fair
values.
|
|
(b) Amounts shown are
preliminary estimates. Actual amounts will be reported in
Mattel's Quarterly Report on Form 10-Q for the quarter ended
June 30, 2015.
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MATTEL, INC. AND
SUBSIDIARIES
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EXHIBIT
III
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WORLDWIDE GROSS
SALES INFORMATION (Unaudited)
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RECONCILIATION OF
GAAP AND NON-GAAP FINANCIAL MEASURES
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For the Three
Months Ended June 30,
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For the Six Months
Ended June 30,
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(In millions,
except percentage information)
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2015
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2014
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2015
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2014
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Worldwide Gross
Sales by Brand:
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Mattel Girls &
Boys Brands
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$ 601.8
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$ 689.0
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$ 1,206.9
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$ 1,345.8
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%
Change
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-13%
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-13%
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-10%
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-9%
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Pos./(Neg.) Impact of Currency (in % pts)
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-10
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-1
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-9
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-1
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%
Change in Constant Currency
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-3%
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-12%
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-1%
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-8%
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Fisher-Price
Brands
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336.8
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328.8
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600.7
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600.2
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%
Change
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2%
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-17%
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0%
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-12%
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Pos./(Neg.) Impact of Currency (in % pts)
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-7
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0
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-7
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0
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%
Change in Constant Currency
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9%
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-17%
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7%
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-12%
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American Girl
Brands
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84.2
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83.1
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190.2
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189.1
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%
Change
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1%
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6%
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1%
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6%
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Construction and Arts
& Crafts Brands1
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64.8
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61.6
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103.1
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61.6
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Other
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7.5
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8.6
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14.4
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15.7
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Gross
Sales
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$ 1,095.1
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$ 1,171.1
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$ 2,115.3
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$ 2,212.4
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Worldwide Gross
Sales - Mattel Girls & Boys Brands:
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Barbie
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$ 130.3
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$ 160.8
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$ 276.3
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$ 330.7
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%
Change
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-19%
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-15%
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-16%
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-15%
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Pos./(Neg.) Impact of Currency (in % pts)
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-8
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-2
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-8
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-2
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%
Change in Constant Currency
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-11%
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-13%
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-8%
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-13%
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Other
Girls
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175.9
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210.9
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365.4
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423.9
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%
Change
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-17%
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-11%
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-14%
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-4%
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Pos./(Neg.) Impact of Currency (in % pts)
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-11
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-1
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-10
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-2
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%
Change in Constant Currency
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-6%
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-10%
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-4%
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-2%
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Wheels
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160.6
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139.9
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292.6
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270.4
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%
Change
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15%
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-3%
|
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8%
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-3%
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Pos./(Neg.) Impact of Currency (in % pts)
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-11
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-2
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-10
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-2
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%
Change in Constant Currency
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26%
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-1%
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18%
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-1%
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Entertainment
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135.0
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177.4
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272.6
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320.8
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%
Change
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-24%
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-19%
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-15%
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-15%
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Pos./(Neg.) Impact of Currency (in % pts)
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-8
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1
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-8
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0
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%
Change in Constant Currency
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-16%
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-20%
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-7%
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-15%
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Gross
Sales
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$ 601.8
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$ 689.0
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$ 1,206.9
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$ 1,345.8
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Worldwide Gross
Sales by Region:
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North
American2
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$ 583.6
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$ 601.2
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$ 1,181.7
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$ 1,153.2
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%
Change
|
|
|
-3%
|
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-8%
|
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2%
|
|
|
-5%
|
|
Pos./(Neg.) Impact of Currency (in % pts)
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|
|
-1
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|
-1
|
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-1
|
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|
0
|
|
%
Change in Constant Currency
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|
|
-2%
|
|
|
-7%
|
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|
3%
|
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-5%
|
|
|
|
|
|
|
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|
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International
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511.5
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569.9
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933.6
|
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1,059.2
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%
Change
|
|
|
-10%
|
|
|
-9%
|
|
|
-12%
|
|
|
-8%
|
|
Pos./(Neg.) Impact of Currency (in % pts)
|
|
|
-15
|
|
|
-2
|
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|
-16
|
|
|
-1
|
|
%
Change in Constant Currency
|
|
|
5%
|
|
|
-7%
|
|
|
4%
|
|
|
-7%
|
|
|
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|
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Gross
Sales
|
|
$ 1,095.1
|
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|
$ 1,171.1
|
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$ 2,115.3
|
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|
$ 2,212.4
|
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|
%
Change
|
|
|
-6%
|
|
|
-8%
|
|
|
-4%
|
|
|
-7%
|
|
Pos./(Neg.) Impact of Currency (in % pts)
|
|
|
-7
|
|
|
-1
|
|
|
-7
|
|
|
-1
|
|
%
Change in Constant Currency
|
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|
1%
|
|
|
-7%
|
|
|
3%
|
|
|
-6%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Reconciliation of
Non-GAAP to GAAP Financial Measure:
|
|
|
|
|
|
|
|
|
Gross
Sales
|
|
$ 1,095.1
|
|
|
$ 1,171.1
|
|
|
$ 2,115.3
|
|
|
$ 2,212.4
|
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|
Sales
Adjustments
|
|
(106.9)
|
|
|
(108.8)
|
|
|
(204.4)
|
|
|
(204.0)
|
|
|
|
|
|
|
|
|
|
|
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Net
Sales
|
|
$ 988.2
|
|
|
$ 1,062.3
|
|
|
$ 1,910.9
|
|
|
$ 2,008.4
|
|
|
%
Change
|
|
|
-7%
|
|
|
-9%
|
|
|
-5%
|
|
|
-7%
|
|
Pos./(Neg.) Impact of Currency (in % pts)
|
|
|
-7
|
|
|
-1
|
|
|
-7
|
|
|
-1
|
|
%
Change in Constant Currency
|
|
|
0%
|
|
|
-8%
|
|
|
2%
|
|
|
-6%
|
|
1 Sales of
Construction and Arts & Crafts products include the MEGA BLOKS
and RoseArt brands. Mattel acquired MEGA Brands Inc. on April
30, 2014.
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2 Consists
of U.S., Canada, and American Girl.
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MATTEL, INC. AND
SUBSIDIARIES
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EXHIBIT
IV
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SUPPLEMENTAL
FINANCIAL INFORMATION (Unaudited)
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|
|
|
|
|
|
|
RECONCILIATION OF
GAAP AND NON-GAAP FINANCIAL MEASURES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three
Months Ended June 30,
|
|
|
For the Six Months
Ended June 30,
|
(In millions,
except per share and percentage information)
|
2015
|
|
2014
|
|
|
2015
|
|
2014
|
|
|
|
|
|
|
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Gross
Profit
|
|
|
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|
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|
Gross Profit, As
Reported
|
$
|
472.9
|
$
|
492.6
|
|
$
|
923.3
|
$
|
974.1
|
Gross
Margin
|
|
47.9%
|
|
46.4%
|
|
|
48.3%
|
|
48.5%
|
Adjustments:
|
|
|
|
|
|
|
|
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|
MEGA Brands Inventory
Fair Value Markup Above Cost
|
|
-
|
|
8.3
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|
-
|
|
8.3
|
Gross Profit, As
Adjusted
|
$
|
472.9
|
$
|
500.9
|
|
$
|
923.3
|
$
|
982.4
|
Adjusted Gross
Margin
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|
47.9%
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|
47.2%
|
|
|
48.3%
|
|
48.9%
|
|
|
|
|
|
|
|
|
|
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Other Selling and
Administrative Expenses
|
|
|
|
|
|
|
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|
Other Selling and
Administrative Expenses, As Reported
|
$
|
367.6
|
$
|
391.7
|
|
$
|
770.0
|
$
|
776.2
|
% of Net
Sales
|
|
37.2%
|
|
36.9%
|
|
|
40.3%
|
|
38.6%
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
MEGA Brands
Integration & Acquisition Costs
|
|
(2.6)
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|
(11.2)
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|
(10.3)
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|
(11.2)
|
MEGA Brands
Intangible Asset Amortization Expense
|
|
(4.2)
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|
(5.0)
|
|
|
(8.4)
|
|
(5.0)
|
Severance
Expense
|
|
(15.6)
|
|
(12.6)
|
|
|
(43.6)
|
|
(34.1)
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Other Selling and
Administrative Expenses, As Adjusted
|
$
|
345.2
|
$
|
362.9
|
|
$
|
707.7
|
$
|
725.9
|
% of Net
Sales
|
|
34.9%
|
|
34.2%
|
|
|
37.0%
|
|
36.1%
|
|
|
|
|
|
|
|
|
|
|
Operating Income
(Loss)
|
|
|
|
|
|
|
|
|
|
Operating Income
(Loss), As Reported
|
$
|
0.6
|
$
|
1.0
|
|
$
|
(53.9)
|
$
|
7.2
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
MEGA Brands Inventory
Fair Value Markup Above Cost
|
|
-
|
|
8.3
|
|
|
-
|
|
8.3
|
MEGA Brands
Integration & Acquisition Costs
|
|
2.6
|
|
11.2
|
|
|
10.3
|
|
11.2
|
MEGA Brands
Intangible Asset Amortization Expense
|
|
4.2
|
|
5.0
|
|
|
8.4
|
|
5.0
|
Severance
Expense
|
|
15.6
|
|
12.6
|
|
|
43.6
|
|
34.1
|
Operating Income, As
Adjusted
|
$
|
23.0
|
$
|
38.1
|
|
$
|
8.4
|
$
|
65.8
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share
|
|
|
|
|
|
|
|
|
|
Net (Loss) Income Per
Common Share, As Reported
|
$
|
(0.03)
|
$
|
0.08
|
|
$
|
(0.21)
|
$
|
0.05
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
MEGA Brands Inventory
Fair Value Markup Above Cost
|
|
-
|
|
0.02
|
|
|
-
|
|
0.02
|
MEGA Brands
Integration & Acquisition Costs
|
|
0.01
|
|
0.03
|
|
|
0.02
|
|
0.03
|
MEGA Brands
Intangible Asset Amortization Expense
|
|
0.01
|
|
0.01
|
|
|
0.02
|
|
0.01
|
Severance
Expense
|
|
0.03
|
|
0.03
|
|
|
0.11
|
|
0.08
|
Discrete Tax
Items
|
|
(0.01)
|
|
(0.12)
|
|
|
(0.01)
|
|
(0.11)
|
Net Income (Loss) Per
Common Share, As Adjusted
|
$
|
0.01
|
$
|
0.05
|
|
$
|
(0.07)
|
$
|
0.08
|
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SOURCE Mattel, Inc.