Mattel 10-K: Fiscal Year 2022

Key insights

7 takeaways · ~3 min read

01
Mattel's net income for fiscal year 2022 was $393.913 million, a significant decrease from $902.987 million in 2021, but an increase from $123.579 million in 2020.
02
Mattel's valuation allowances on U.S. federal and state deferred tax assets remained at approximately $18 million in 2022, while foreign deferred tax assets decreased from $83 million in 2021 to $74 million in 2022.
03
Mattel's net deferred tax assets decreased from $486.9 million in 2021 to $416.5 million in 2022.
04
Mattel's operations in Russia experienced significant disruption due to the ongoing war, leading to a pause in shipments and a decline in net sales in Russia and Ukraine, which represented less than 1% of total net sales in 2022 (down from 2% in 2021).
05
As of December 31, 2022, Mattel held $69.2 million in cash in Russia, with limited ability to move it out of the country.
06
Mattel's global workforce is 58% women, with women holding 47% of management positions; ethnically diverse employees comprise 44% of the U.S. workforce at all levels (excluding manufacturing and temporary/seasonal staff).
07
Mattel's accumulated benefit obligation for defined benefit pension plans decreased from $595.4 million in 2021 to $437.8 million in 2022, primarily due to an increase in the discount rate.