What changed in this filing

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Item 1. Business

2024-03-15 compared with 2023-02-22 · 72 added, 84 removed, 145 unchanged (52% of the section changed)

Throughout this report "Mattel" refers to Mattel, Inc.

and/or one or more of its family of companies.

Mattel is a leading global toy company and owner of one of the strongest catalogs of children's and family entertainment franchises in the world.

Mattel creates innovative products and experiences that inspire, entertain, and develop children through play.

and/or one or more of its subsidiaries.

Mattel is a leading global toy and family entertainment company and owner of one of the most iconic brand portfolios in the world.

Mattel creates innovative products and experiences that inspire fans, entertain audiences, and develop children through play.

Mattel is focused on the following evolved strategy to grow its intellectual property ("IP") driven toy business and expand its entertainment offering:

• Accelerate topline growth through scaling Mattel's portfolio, growing franchise brands, and advancing e-commerce and direct-to-consumer business, and increasing profitability by continuing to optimize operations;

• Expand entertainment offering to capture the full value of Mattel's IP in highly accretive business verticals, including content, consumer products, and digital experiences.

Mattel is the owner of a portfolio of iconic brands and partners with global entertainment companies to license other intellectual property.

• Grow toy business profitably through scaling Mattel's portfolio, optimizing operations, evolving demand creation, and growing franchise brands;

• Expand entertainment offering to capture the full value of Mattel's IP outside the toy aisle in highly accretive business verticals, by growing franchise brands and accelerating content, consumer products, and digital and live experiences.

Mattel is the owner of a portfolio of iconic brands and partners with global entertainment companies to license other IP.

Mattel's portfolio of owned and licensed brands and products are organized into the following categories:

Dolls —including brands such as Barbie, American Girl, Disney Princess and Frozen, Monster High, and Polly Pocket .

Dolls —including brands such as Barbie, American Girl, Disney Princess and Disney Frozen, Monster High, and Polly Pocket .

Mattel's Dolls portfolio is driven by the flagship Barbie brand and a collection of complementary brands offered globally.

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American Girl , with an extensive portfolio of dolls and accessories, content, gaming, and lifestyle products, is best known for imparting valuable life lessons that instill confidence through its inspiring dolls and books, featuring diverse characters from past and present.

American Girl products are sold directly to consumers through its website, proprietary retail stores in the United States, at select retailers nationwide, and at specialty boutiques and franchise stores in Canada.

Infant, Toddler, and Preschool —including brands such as Fisher-Price and Thomas & Friends , and PowerWheel s.

Infant, Toddler, and Preschool —including brands such as Fisher-Price (including Little People and Imaginext ) and Thomas & Friends .

As a leader in play and child development, Fisher-Price's mission is to help families by making the most fun, enriching products for infants, toddlers, and preschoolers.

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Vehicles —including brands such as Hot Wheels (including Hot Wheels Monster Trucks and Hot Wheels Mario Kart ( Nintendo )), Matchbox , and Cars ( Disney Pixar ).

In production for over 50 years, Hot Wheels continues to push the limits of performance and design and ignites the challenger spirit of kids, adults, and collectors.

From die-cast vehicles to tracks, playsets, and accessories, the Mattel Vehicles portfolio has broad appeal that engages and excites kids of all ages.

Action Figures, Building Sets, Games, and Other —including brands such as Masters of the Universe , MEGA , UNO , Lightyear ( Disney Pixar ), Jurassic World ( NBCUniversal ), WWE , and Star War s ( Disney's Lucasfilm ).

Mattel's Action Figures portfolio is comprised of product lines associated with licensed entertainment franchises that are driven by major tentpole releases, such as Lightyear and Jurassic World , as well as product lines from Mattel's owned IP, such as Masters of the Universe .

As the challenger brand in Building Sets, MEGA sparks creativity through the power of connection with builders of all ages and fans of global franchises.

In production for over 50 years, Hot Wheels continues to push the limits of performance and design, and ignites and nurtures the challenger spirit of kids, adults, and collectors.

From die-cast vehicles to tracks, playsets, and accessories, the Mattel Vehicles portfolio has broad appeal that engages and excites fans of all ages.

Action Figures, Building Sets, Games, and Other —including brands such as Masters of the Universe , MEGA , UNO , Jurassic World ( NBCUniversal ), Minecraft ( Microsoft ), WWE , and Star War s ( Disney's Lucasfilm ).

Mattel's Action Figures portfolio is comprised of product lines associated with licensed entertainment franchises, such as Jurassic World and WWE , as well as product lines from Mattel-owned IP, such as Masters of the Universe .

As the challenger brand in Building Sets, MEGA inspires creativity through authentic building experiences for builders of all ages and fans of global franchises.

Within Games, UNO is the classic matching card game that is easy to learn and fast fun for everyone.

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Barbie has broad product offerings, with product lines designed to appeal to children of multiple age groups, complemented by a Barbie Signature line with high-quality dolls that appeal to fans of all ages.

In 2023, Barbie will be featured in a live action theatrical movie directed by Greta Gerwig and starring Margot Robbie and Ryan Gosling, which will include the launch of an all new Dreamhouse in support of the release.

Barbie will also launch exciting new lines, including My First Barbie , Styling Head , and Large Doll , and will introduce more high-profile partnerships and pop culture collaborations.

Mattel is also excited to build upon its strong partnerships with Disney with the return of the Disney Princess and Frozen product lines, and Universal with the launch of new Trolls product lines.

Monster High will look to build upon the success of its 2022 U.S.

re-launch with a full global re-launch in 2023, including new content and product offerings.

In 2024, Barbie will look to continue to capitalize on the successful live action theatrical movie to help drive the full Barbie franchise, including toys, consumer products, and gaming.

Barbie will be celebrating its 65 th anniversary with numerous activations, and also launch exciting new product lines and play patterns.

Mattel is also excited to build upon its strong partnerships with Disney for the Disney Princess and Disney Frozen product lines.

Monster High will look to build upon the success of its global re-launch, including planned new content and product offerings.

Infant, Toddler, and Preschool

In 2023, Fisher-Price will continue its focus on engaging consumers as a trusted partner for families with infants, toddlers and preschoolers, by continuing to create brand love through innovative products and inviting adults back into the world of childhood.

Design-led innovation will continue to drive new product offerings, including the expansion of the Linkimals product line and new innovative toys from Imaginext .

Mattel will look to continue its strong momentum in the Little People product line with the expansion of the Little People Barbie line and Little People Collector , tapping into a new consumer base.

New preschool toys will include product lines associated with the episodic content launch of Batwheels , an ultimate world of racing and chasing series.

In 2024, Fisher-Price will continue its focus on engaging consumers as a trusted partner for families with infants, toddlers and preschoolers, by continuing to create brand love through innovative products and enriching the first five years of childhood for every family.

Consumer-centric innovation will continue to drive new product offerings, including the expansion of Linked Play within Infant and new innovative toys from Imaginext , including new licensed entertainment offerings.

Fisher-Price will add Fisher-Price Wood and continue its strong momentum in the Little People product line with the expansion of the Little People Barbie line and Little People Collector line.

In 2024, industry leader Hot Wheels will look to continue its strong momentum as a multigenerational franchise with consumer interest that remains at historic highs.

Hot Wheels product offerings will continue to excite with innovation in Tracks and Playsets , expansion of the 2022 Hot Wheels Skate launch, introduction of product lines for The Super Mario Bros.

Movi e ( Universal ) animated theatrical movie, and more digital ways to collect with the NFT Garage series.

Hot Wheels will also continue to enter new vehicle play segments, while upholding the quality and performance of Hot Wheels .

Die-cast pioneer Matchbox will celebrate its 70 th anniversary, honoring its legacy with special edition die-cast offerings and packaging.

Matchbox will continue to bring exciting new products to market, including product partnerships with SpaceX, and new episodes of the globally popular YouTube series, Matchbox Adventures .

Mattel will continue to partner with Disney Pixar for Cars with fresh new product offerings, building on the excitement from the Fall 2022 release of Cars on the Road content, and supporting Disney's 100-year anniversary with Cars Disney 100 toys.

Hot Wheels product offerings are expected to excite consumers with innovation in both die-cast vehicles and tracks and playsets.

These offerings will be supported by an all-new animated children's series on Netflix, Hot Wheels Let’s Race , and the expansion of the Hot Wheels Racerverse line.

Hot Wheels also seeks to further expand die-cast vehicle distribution, targeting fans of all ages.

Die-cast pioneer Matchbox expects to continue to bring exciting new products to market following its successful 70 th anniversary, including new sustainable die-cast products, and new episodes of the globally popular YouTube series, Matchbox Adventures .

Mattel will continue to partner with Disney Pixar for Cars to drive innovation, including fresh new product offerings to support key marketing events in 2024.

Action Figures, Building Sets, Games, and Other

Mattel Action Figures will continue to collaborate with key licensor partners, such as Disney Pixar , Microsoft , NBCUniversal , and WWE , to bring innovative products to the global marketplace.

A sample of Mattel's 2023 Action Figures product lines include toys tied to Microsoft's Spring release of the new Minecraft Legends game, and NBCUniversal's Jurassic World , which will be celebrating the 30 th anniversary of the Jurassic Park franchise.

Mattel will continue to expand its Masters of the Universe franchise with products for fans of all ages and continued expansion of the collector business.

In Building Sets, MEGA sparks creativity through the power of connection with builders of all ages and fans of global franchises.

Partnerships with some of the world's top franchises including Pokémon , Barbie and Hot Wheels , invite consumers to try MEGA building sets, while innovative building play, authentic details, compatible quality, and accessible value encourages consumers to stay in the MEGA building set collection.

Mattel's 2024 Action Figures product lines will include toys tied to Netflix content for NBCUniversal’s Jurassic World ( Jurassic World:

Chaos Theory ) and Masters of the Universe ( Masters of the Universe:

Revolution ) as well as new innovation within Minecraft and WWE .

In Building Sets, MEGA inspires creativity through authentic building experiences for builders of all ages and fans of global franchises.

Partnerships with some of the world's top franchises, including Pokémon and Hot Wheels , invite consumers to try MEGA building sets, while innovative building play, authentic details, compatible quality, and accessible value encourages consumers to stay in the MEGA building set collection.

Parents of preschoolers can continue to discover how the MEGA Bloks preschool building system enhances playtime and early childhood development beyond the Big Building Bag.

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Mattel will focus on its expansion of Games into its direct-to-consumer business, collectability, and innovation.

Additionally, Mattel will continue to introduce new game extensions and partnerships that celebrate pop culture.

Mattel Plush will continue to collaborate with key licensor partners, including Disney's Lucasfilm , Pixar , Marvel , Microsoft's Minecraft , NBCUniversal's Jurassic World , and many more.

The Plush portfolio is expected to benefit from tentpole moments capitalizing on this strong entertainment slate in 2023.

Mattel will also bring its iconic IP into the Plush category.

Additionally, Mattel expects to introduce new game extensions and partnerships that celebrate pop culture.

International Segment

Products marketed and sold by the International segment are generally the same as those marketed and sold by the North America segment, although some are developed or adapted for particular international markets.

Mattel's products are sold directly to retailers and wholesalers in most European, Latin American, and Asian countries, in Australia and New Zealand, in certain countries in the Middle East and Africa, and through agents and distributors in those countries where Mattel has no direct presence.

Mattel's products are sold directly to retailers and wholesalers in most European, Latin American, and Asian countries, in Australia and New Zealand, and through agents and distributors in those countries where Mattel has no direct presence.

No individual country within the International segment exceeded 8% of worldwide consolidated net sales during 2023.

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American Girl also publishes best-selling fiction and non-fiction books, as well as an array of popular digital content.

The American Girl segment sells products directly to consumers through its website, in its proprietary retail stores in the United States, at select retailers nationwide, and at specialty boutiques and franchise stores in Canada.

The American Girl segment sells products directly to consumers through its website, proprietary retail stores in the United States, and at select retailers in the United States.

Competition and Industry Background

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Competition in the toy industry is based primarily on quality, play value, brands, and price.

Mattel offers a diverse range of products for children of all ages and families that include, among others, toys for infants and preschoolers, dolls, vehicles, action figures, building sets, youth electronics, games, including digital, puzzles, plush, educational toys, technology-related products, media-driven products, and fashion-related toys.

The North America segment competes with several large toy companies, including Hasbro, Jazwares, LEGO, MGA Entertainment, the Pokémon Company, Spin Master, many smaller toy companies, and manufacturers of video games and consumer electronics.

The International segment competes with global toy companies including Hasbro, Jazwares, LEGO, MGA Entertainment, the Pokémon Company, Spin Master, other national and regional toy companies, and manufacturers of video games and consumer electronics.

Mattel offers a diverse range of products for children, fans of all ages, and families that include, among others, toys for infants, toddlers, and preschoolers, toys for school-aged children, dolls, vehicles, action figures, building sets, games, including digital, puzzles, plush, educational toys, technology-related products, media-driven products, and fashion-related items.

The North America segment competes with several large toy companies, including Hasbro, Jazwares, LEGO, the Pokémon Company, Spin Master, many smaller toy companies, and manufacturers of video games and consumer electronics.

The International segment competes with global toy companies including Hasbro, Jazwares, LEGO, the Pokémon Company, Spin Master, other national and regional toy companies, and manufacturers of video games and consumer electronics.

Foreign regions may include competitors that are strong in a particular toy line or geographical area but do not compete with Mattel or other international toy companies worldwide.

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Seasonal shipping patterns generally result in significant peaks in the third and fourth quarters in the respective levels of inventories and accounts receivable, which may result in seasonal working capital financing requirements.

Through the third quarter of 2022, Mattel accelerated its inventory production to meet demand levels and reduce supply chain risk while retailers also increased their inventory levels to replenish low inventory levels entering 2022 and to meet expected growth in demand ahead of the holiday season.

However, consumer demand was lower than expected during the holiday season, and occurred later than expected in the fourth quarter of 2022, which caused retailers to reduce replenishment orders as they managed their inventory.

Elevated retailer inventory levels are expected to have an unfavorable impact to net sales in 2023, particularly in the first half of the year.

Mattel's products are sold throughout the world.

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Mattel also has retail outlets in Latin America that serve as outlets for its products.

American Girl products and its children's publications are sold directly to consumers and select retailers in North America.

American Girl products and its children's publications are sold directly to consumers and select retailers in the United States.

Mattel has retail space in Chicago, Illinois;

Los Angeles, California;

and New York, New York for its flagship American Girl stores, and in six other cities across the United States for its American Girl boutique stores, each of which features children's products from the American Girl segment.

Additionally, Mattel sells certain of its products directly to consumers through its e-commerce platforms.

During 2022, Mattel's three largest customers (Walmart a t $0.95 billion, Tar get at $0.76 billion, a nd Amazon at $0.64 billion) ac counted for approximately 43% of worldwide consolidated net sales.

and New York, New York for its flagship American Girl stores, and in five other cities across the United States for its American Girl boutique stores, each of which features children's products from the American Girl segment.

Additionally, Mattel sells certain of its products directly to consumers through its e-commerce platform and various third-party e-commerce channels.

During 2023, Mattel's three largest customers (Walmart at $1.13 billion, Target at $0.67 billion, and Amazon at $0.60 billion) accounted for approximately 44% of worldwide consolidated net sales.

During 2022, Mattel's three largest customers (Walmart at $0.95 billion, Target at $0.76 billion, and Amazon at $0.64 billion) accounted for approximately 43% of worldwide consolidated net sales.

Within countries in the International segment, there is also a concentration of sales to certain large customers that do not operate in the United States, none of which exceeded 10% of worldwide consolidated net sales.

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A number of these licenses relate to product lines that are significant to Mattel's business and operations.

Mattel has entered into agreements to license entertainment properties, including among others, Disney Consumer Products (including Disney Princess and Frozen, Star Wars, Disney Pixar (including Cars , Lightyear , and Toy Story ) and certain other Disney films and television properties), NBCUniversal (including Jurassic World, Trolls, and Fast and Furious ), Paramount (relating to its Nickelodeon properties), Warner Bros.

(including Batman, Superman, Wonder Woman, Justice League and Harry Potter ), Microsoft (including Minecraft and Halo ), WWE, and Pokémon .

Mattel has entered into agreements to license entertainment properties, including among others, Disney Consumer Products (including Disney Princess and Disney Frozen, Star Wars, Disney Pixar (including Cars and Toy Story ) and certain other Disney films and television properties), NBCUniversal (including Jurassic World, Trolls, and Fast and Furious ), Paramount (relating to its Nickelodeon properties), Warner Bros.

(including DC Universe and Harry Potter ), Microsoft (including Minecraft and Halo ), WWE, and Pokémon .

Royalty expense for 2023, 2022, and 2021 was $249.8 million, $230.8 million, and $184.3 million, respectively.

See Part II, Item 7 "Management's Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital

Resources—Commitments" and Part II, Item 8 "Financial Statements and Supplementary Data—Note 12 to the Consolidated Financial Statements—Commitments and Contingencies."

See Part II, Item 7 "Management's Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources—Commitments" and Part II, Item 8 "Financial Statements and Supplementary Data—Note 13 to the Consolidated Financial Statements—Commitments and Contingencies."

Mattel licenses a number of its trademarks and other property rights to others for use in connection with the sale of their products.

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Mattel's principal manufacturing facilities are located in China, Indonesia, Malaysia, Mexico, and Thailand.

In conjunction with Mattel's cost savings programs, Mattel previously discontinued production at three plants located in China, Indonesia, and Mexico and discontinued production in 2021 at its plant located in Canada.

In conjunction with Mattel's cost savings programs, in 2021, Mattel discontinued production at its plant located in Canada.

In addition, Mattel intends to discontinue production at a plant located in China in 2024.

To help avoid disruption of its product supply due to political instability, civil unrest, future pandemics or other health crises, economic instability, changes in government policies or regulations, natural and manmade disasters, and other risks, Mattel produces its products in various facilities across multiple countries.

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Privacy-related laws also exist in some U.S.

states, such as the California Consumer Privacy Act, as amended by the California Privacy Rights Act, and other state laws that have taken effect in 2023, or are yet to take effect.

states, such as the California Consumer Privacy Act, as amended by the California Privacy Rights Act, and other state laws that took effect in 2023, or are yet to take effect.

Mattel believes that it is in substantial compliance with these laws and regulations.

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Human Capital

Mattel believes recruiting, developing, and motivating a talented global workforce are key to its long-term growth and success.

Through Mattel's focus on employee engagement, diversity, equity, and inclusion, training and development, health and safety, and employee well-being, Mattel endeavors to create a supportive and rewarding environment where employees are encouraged to collaborate, innovate, and grow.

As of December 31, 2022, Mattel had approximately 33,900 employees (including temporary and seasonal employees) working in over 35 countries worldwide to create innovative products and experiences that inspire, entertain, and develop children through play.

As of December 31, 2023, Mattel had approximately 33,000 employees (including temporary and seasonal employees) working in over 35 countries worldwide to create innovative products and experiences that inspire fans, entertain audiences, and develop children through play.

Approximately 28,400 employees (86% of the total workforce) are located outside the United States, with a significant global manufacturing labor workforce of approximately 23,600 employees.

The remaining workforce focuses on the design, marketing, sales, finance, and other aspects of Mattel's business.

Mattel's Board of Directors, Compensation Committee, and Governance and Social Responsibility Committee are involved in the oversight of how the company fosters its culture and receive regular updates on the company's workforce management, including its diversity, equity, and inclusion initiatives.

Employee Engagement

Mattel regularly collects feedback to measure employee engagement on an ongoing basis through its annual global engagement survey, which measures employee job satisfaction and is used to help improve the employee experience and strengthen its workplace culture.

Diversity, Equity, and Inclusion

Mattel believes recruiting, developing, and motivating a talented global workforce are important to its long-term growth and success.

Mattel was ranked among Forbes 2023 World's Best Employers and 2023 America's Best Midsize Employers;

named to Fast Company's list of the Best Workplaces for Innovators in 2023;

recognized by U.S.

News as one of the Best Companies to Work For 2023-2024;

named to Newsweek America’s Greatest Workplaces for Women 2023 and America's Greatest Workplaces for Diversity 2024;

and honored by Computerworld as one of the Best Places to Work in IT in 2023 and 2024.

Mattel has once again been recognized for its diversity, equity, and inclusion efforts, including by the Human Rights Campaign Foundation as a 2023-2024 "Equality 100 Award" recipient.

For the fourth consecutive year, Mattel received a perfect score on the Human Rights Campaign Foundation's Corporate Equality Index.

Workplace Culture

Mattel is committed to fostering a culture where all employees have the opportunity to realize their full potential.

Mattel values and shares a wide range of ideas and voices that help evolve and broaden its perspectives, with a reach that extends to consumers, customers, business partners, and suppliers.

In April 2022, Mattel published its 2021 Citizenship Report, which described goals and initiatives related to its diversity, equity, and inclusion efforts.

Management regularly collects feedback to measure employee engagement and job satisfaction on an ongoing basis through its annual global engagement survey, which is used to help improve the employee experience and strengthen its workplace culture.

Mattel values a wide range of ideas and voices that help evolve and broaden its perspectives, with a reach that extends to consumers, customers, business partners, and suppliers.

In September 2023, Mattel published its 2022 Citizenship Report, which described goals and initiatives related to its diversity, equity, and inclusion efforts.

The report highlighted Mattel's progress on its goals as of December 31, 2022, including the following:

• Maintained 100% base pay equity globally for all employees performing similar work with comparable roles and experience in similar markets.

This includes base pay equity by gender globally and pay equity by ethnicity in the United States.

• Maintained as a priority representation of women at all levels of the organization, with women comprising 58% of Mattel's global workforce and 47% of all management positions.

• Increased total representation of ethnically diverse employees at all levels of the organization in the United States to 44%.

• Maintained 100% base pay equity in 2022 for similar work performed in similar markets by gender globally and by ethnicity in the United States.

• Continued to achieve a high level of representation for women, who comprised 57% of Mattel's global workforce and 48% of managers and above in 2022.

• Continued to achieve a high level of representation for ethnically diverse employees, who made up 45% of U.S.

employees in 2022.

• Mattel remains focused on actions to increase such representation, including strengthening relationships with schools, networks, and organizations to establish a talent pipeline of women for Technology, Supply Chain, and Finance positions.

* Excludes manufacturing labor and temporary and seasonal employees.

We believe Mattel's Employee Resource Groups ("ERGs") are an integral component of fostering an inclusive culture and enhancing engagement at Mattel.

Mattel believes that Mattel's Employee Resource Groups ("ERGs") are an integral component of fostering an inclusive culture and enhancing engagement at Mattel.

Mattel employees have created and continue to lead ten ERGs, which bring together members and allies of underrepresented identities across the global organization.

The ERGs organize learning opportunities, cultural celebrations, and community outreach, elevate important issues, encourage open and honest conversations, and collect critical feedback.

Mattel has once again been recognized for its diversity, equity, and inclusion efforts, including by the Human Rights Campaign Foundation as one of the country's top places to work for LGBTQ+ equality in 2022.

For the third consecutive year, Mattel received a perfect score on the Human Rights Campaign Foundation's Corporate Equality Index, a leading benchmarking survey and report measuring corporate policies and practices related to LGBTQ+ workplace equality.

Mattel was also ranked among Forbes 2022 World's Best Employers and 2023 America's Best Midsize Employers;

named to Fast Company's List of the 100 Best Workplaces for Innovators in 2022;

Computerworld’s list of the Best Places to Work in IT 2023;

and once again was certified by the Great Place to Work Institute in 2022.

Training and Development

We believe continuously developing skills and capabilities for the future is essential to operating as an IP-driven, high-performing toy company.

Employee Development and Well-Being

Mattel believes continuously developing skills and capabilities for the future is essential to operating as an IP-driven, high-performing toy and family entertainment company.

Additionally, offering the opportunity for employees to continuously learn and grow their careers at Mattel is a key driver of its employee engagement strategy.

In 2022, employees at all levels around the globe participated in several hundred thousand hours of learning content across professional, management development, and technical training.

This included both online classes and instructor-led training.

Health and Safety, and Employee Well-Being

In 2023, employees at all levels around the globe participated in several hundred thousand hours of online classes and instructor-led training regarding professional development, management development, and technical training.

Mattel is focused on creating a safe and healthy workplace for all of its employees.

In 1997, Mattel became one of the first companies to create standards for responsible manufacturing.

Since then, these principles have become the foundation for Mattel's Responsible Supply Chain Commitment, a comprehensive set of standards and oversight processes that establish Mattel's expectations for responsible factory working conditions, environmental protections, social compliance, health, and safety in both its own manufacturing facilities and those of its supply chain partners.

To supplement Mattel's comprehensive health and wellness programs, it introduced specific programs targeted at unique issues arising during the pandemic, including working from home, maintaining work/life balance, and improving health and happiness.

This is reflected in a comprehensive set of standards and oversight processes that establish Mattel's expectations for responsible working conditions, environmental protections, social compliance, health, and safety in both its own manufacturing facilities and those of its supply chain partners.

Mattel offers several benefits to promote employee well-being, including flexible work hours and/or paid time off, health and welfare insurance options, retirement plans, and basic and supplemental employee life insurance for eligible individuals, as well as programs targeted at matters such as maintaining work/life balance and improving health and happiness.

Available Information

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business