2 unchanged sentences
Currency exchange rate fluctuations impact Mattel's results of operations and cash flows.
−Removed: The Euro and Chinese yuan were the primary currencies that caused foreign currency transaction exposure for Mattel in 2024.
−Removed: 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.
+Added: The Hong Kong dollar, Euro, and Chinese yuan were the primary currencies that caused foreign currency transaction exposure for Mattel in 2025.
+Added: Mattel seeks to mitigate its exposure to 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.
7 unchanged sentences
dollar functional currencies are translated into U.S.
−Removed: dollars at period-end exchange rates.
−Removed: Income, expense, and cash flow items are translated at weighted-average exchange rates prevailing during the period.
+Added: dollars at fiscal period-end exchange rates.
+Added: Income, expense, and cash flow items are translated at weighted-average exchange rates prevailing during the fiscal 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 2024 were related to its net investments in entities having functional currencies denominated in the Mexican peso, Russian ruble, and Brazilian real.
+Added: Mattel's primary currency translation adjustments in 2025 were related to its net investments in entities having functional currencies denominated in the Russian ruble, Mexican peso, and British pound sterling.
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.
25 unchanged sentences
dollar per local currency.
−Removed: For the purchase of foreign currencies, fair value reflects the amount, based on dealer quotes, that Mattel would pay at maturity for contracts involving the same notional amounts, currencies, and maturity dates, if they had been entered into as of December 31, 2024.
−Removed: For the sale of foreign currencies, fair value reflects the amount, based on dealer quotes, that Mattel would receive at maturity for contracts involving the same notional amounts, currencies, and maturity dates, if they had been entered into as of December 31, 2024.
+Added: For foreign currency buy and sell contracts, fair value reflects the amount, based on dealer quotes, that Mattel would pay or receive at maturity for contracts involving the same notional amounts, currencies, and maturity dates, if they had been entered into as of December 31, 2025.
The differences between the market forward amounts and the contract amounts are expected to be fully offset by currency transaction gains and losses on the underlying hedged transactions.
1 unchanged sentence
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, 2024, these contracts had a contract amount of $69.0 million and a fair value liability of $1.4 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 each of 2024 and 2023.
−Removed: Turkey Operations
−Removed: Effective April 1, 2022, Mattel has accounted for Turkey as a highly inflationary economy, as the projected three-year cumulative inflation rate exceeded 100%.
−Removed: As such, beginning April 1, 2022, Mattel's Turkey subsidiary has designated the U.S.
−Removed: dollar as its functional currency.
−Removed: Mattel's Turkey subsidiary represented approximately 1% of Mattel's consolidated net sales for the year ended December 31, 2024.
+Added: As of December 31, 2025, these contracts had a contract amount of $10.3 million and a fair value of $0.2 million.
+Added: If Mattel had 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 increased by approximately $10 million in 2025 and decreased by approximately $30 million in 2024.
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.