2 unchanged sentences
Currency exchange rate fluctuations impact Mattel's results of operations and cash flows.
−Removed: Unhedged transactions denominated in the Chinese yuan and Euro were the primary transactions that caused foreign currency transaction exposure for Mattel in 2023.
−Removed: Mattel seeks to mitigate its exposure to market risk by monitoring its foreign currency transaction exposure for the year and partially hedging such exposure using foreign currency forward exchange contracts primarily to hedge its purchase and sale of inventory and other intercompany transactions denominated in foreign currencies.
+Added: The Euro and Chinese yuan were the primary currencies that caused foreign currency transaction exposure for Mattel in 2024.
+Added: Mattel seeks to mitigate its foreign currency exchange risk by monitoring its foreign currency transaction exposure for the year and partially hedging such exposure using foreign currency forward exchange contracts primarily to hedge its purchase and sale of inventory and other intercompany transactions denominated in foreign currencies.
These contracts generally have maturity dates of up to 24 months.
−Removed: For those intercompany receivables and payables that are not hedged, the transaction gains or losses are recorded in the consolidated statements of operations in the period in which the exchange rate changes as part of operating income or other non-operating (income) expense, net based on the nature of the underlying transaction.
+Added: For those intercompany receivables and payables that are not hedged, the transaction gains or losses are recorded in the consolidated statements of operations in the period in which the exchange rate changes as part of operating income or other non-operating expense (income), net based on the nature of the underlying transaction.
Transaction gains or losses on hedged intercompany inventory transactions are recorded in the consolidated statements of operations in the period in which the inventory is sold to customers.
5 unchanged sentences
dollar functional currencies are translated into U.S.
−Removed: dollars at fiscal year-end exchange rates.
−Removed: Income, expense, and cash flow items are translated at weighted-average exchange rates prevailing during the fiscal year.
+Added: dollars at period-end exchange rates.
+Added: Income, expense, and cash flow items are translated at weighted-average exchange rates prevailing during the period.
The resulting currency translation adjustments are recorded as a component of accumulated other comprehensive loss within stockholders' equity.
−Removed: Mattel's primary currency translation adjustments in 2023 were related to its net investments in entities having functional currencies denominated in the Mexican peso, Russian ruble, and British pound sterling.
+Added: Mattel's primary currency translation adjustments in 2024 were related to its net investments in entities having functional currencies denominated in the Mexican peso, Russian ruble, and Brazilian real.
There are numerous factors impacting the amount by which Mattel's financial results are affected by foreign currency translation and transaction gains and losses resulting from changes in currency exchange rates, including, but not limited to, the level of foreign currency forward exchange contracts in place at a given time and the volume of foreign currency-denominated transactions in a given period.
16 unchanged sentences
Hungarian forint 5,553 390.29 (97) — — —
+Added: Indonesia rupiah 56,496 16,409.72 501 — — —
Japanese yen — — — 7,747 153.06 205
11 unchanged sentences
dollar detailed in the above table, Mattel also had contracts to sell British pound sterling for the purchase of Euro.
−Removed: As of December 31, 2023, these contracts had a contract amount of $45.6 million and a fair value asset of less than $0.1 million.
−Removed: Had Mattel not entered into hedges to limit the effect of currency exchange rate fluctuations on its results of operations and cash flows, its earnings before income taxes would have decreased by approximately $30 million in 2023 and decreased by approximately $19 million in 2022.
+Added: As of December 31, 2024, these contracts had a contract amount of $69.0 million and a fair value liability of $1.4 million.
+Added: Had Mattel not entered into hedges to limit the effect of currency exchange rate fluctuations on its results of operations and cash flows, its earnings before income taxes would have decreased by approximately $30 million in each of 2024 and 2023.
Turkey Operations
3 unchanged sentences
Mattel's Turkey subsidiary represented approximately 1% of Mattel's consolidated net sales for the year ended December 31, 2024.
−Removed: Argentina Operations
−Removed: During the third quarter of 2021, Mattel began a process to liquidate its subsidiary in Argentina.
−Removed: The liquidation was substantially completed during the fourth quarter of 2022.
−Removed: Prior to the substantial completion of the liquidation, Mattel had recorded $45.4 million of currency translation adjustments in accumulated other comprehensive loss within its consolidated balance sheet.
−Removed: As a result of the substantially complete liquidation, the cumulative currency translation adjustments were removed from accumulated other comprehensive loss and recognized as a loss in other non-operating expense within the consolidated statement of operations in the fourth quarter of 2022.
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.