2024 Q3 Form 10-Q Financial Statement

#000162828024033454 Filed on July 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $1.844B $1.080B
YoY Change -3.9% -0.69%
Cost Of Revenue $864.5M $548.6M
YoY Change -8.12% -7.98%
Gross Profit $979.4M $531.1M
YoY Change 0.15% 8.17%
Gross Profit Margin 53.12% 49.19%
Selling, General & Admin $463.6M $437.1M
YoY Change 4.98% 21.43%
% of Gross Profit 47.34% 82.3%
Research & Development $46.84M $47.42M
YoY Change -5.9% -4.75%
% of Gross Profit 4.78% 8.93%
Depreciation & Amortization $40.90M $41.95M
YoY Change -10.31% -4.25%
% of Gross Profit 4.18% 7.9%
Operating Expenses $463.6M $437.1M
YoY Change 831.28% 4.25%
Operating Profit $515.8M $94.00M
YoY Change 8.85% 31.03%
Interest Expense -$19.60M -$17.60M
YoY Change -163.81% -33.13%
% of Operating Profit -3.8% -18.72%
Other Income/Expense, Net $3.000M -$6.100M
YoY Change 25.47% -384.12%
Pretax Income $471.7M $59.50M
YoY Change 4.8% 54.14%
Income Tax $106.4M $9.200M
% Of Pretax Income 22.56% 15.46%
Net Earnings $372.4M $56.90M
YoY Change 154.51% 109.29%
Net Earnings / Revenue 20.2% 5.27%
Basic Earnings Per Share $1.10 $0.17
Diluted Earnings Per Share $1.09 $0.17
COMMON SHARES
Basic Shares Outstanding 339.9M shares 344.1M shares
Diluted Shares Outstanding 341.2M shares 344.4M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $723.5M $722.4M
YoY Change 58.77% 140.87%
Cash & Equivalents $723.5M $722.4M
Short-Term Investments
Other Short-Term Assets $242.3M $265.7M
YoY Change 7.78% 1.68%
Inventory $737.2M $776.9M
Prepaid Expenses
Receivables $1.477B $839.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.180B $2.604B
YoY Change 4.55% 7.45%
LONG-TERM ASSETS
Property, Plant & Equipment $791.4M $737.3M
YoY Change 73.1% -3.03%
Goodwill $1.389B $1.383B
YoY Change 0.65% -0.06%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.153B $1.181B
YoY Change 155.66% 28.65%
Total Long-Term Assets $3.333B $3.301B
YoY Change 4.09% -4.97%
TOTAL ASSETS
Total Short-Term Assets $3.180B $2.604B
Total Long-Term Assets $3.333B $3.301B
Total Assets $6.514B $5.906B
YoY Change 4.31% 0.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.242B $1.005B
YoY Change 176.02% 175.02%
Accrued Expenses $803.2M $628.3M
YoY Change 0.02% -4.23%
Deferred Revenue $48.50M
YoY Change -9.99%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $1.299B $1.011B
YoY Change -0.46% -1.93%
LONG-TERM LIABILITIES
Long-Term Debt $2.333B $2.332B
YoY Change 0.19% 0.19%
Other Long-Term Liabilities $568.9M $589.3M
YoY Change 66.86% 2.21%
Total Long-Term Liabilities $2.902B $2.922B
YoY Change -0.08% 0.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.299B $1.011B
Total Long-Term Liabilities $2.902B $2.922B
Total Liabilities $4.201B $3.933B
YoY Change -0.2% -0.07%
SHAREHOLDERS EQUITY
Retained Earnings $3.463B $3.091B
YoY Change 18.81% 11.64%
Common Stock $2.200B $2.197B
YoY Change 0.63% -0.68%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.313B $1.973B
YoY Change
Total Liabilities & Shareholders Equity $6.514B $5.906B
YoY Change 4.31% 0.13%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $372.4M $56.90M
YoY Change 154.51% 109.29%
Depreciation, Depletion And Amortization $40.90M $41.95M
YoY Change -10.31% -4.25%
Cash From Operating Activities $155.8M -$252.9M
YoY Change -36.66% 112.16%
INVESTING ACTIVITIES
Capital Expenditures $91.49M $34.97M
YoY Change 107.46% 14.86%
Acquisitions
YoY Change
Other Investing Activities $12.45M -$9.291M
YoY Change 2.88% -184.68%
Cash From Investing Activities -$79.04M -$44.26M
YoY Change 147.78% 127.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -74.21M -108.7M
YoY Change 54.28% 498.19%
NET CHANGE
Cash From Operating Activities 155.8M -252.9M
Cash From Investing Activities -79.04M -44.26M
Cash From Financing Activities -74.21M -108.7M
Net Change In Cash 2.571M -405.9M
YoY Change -98.45% 158.76%
FREE CASH FLOW
Cash From Operating Activities $155.8M -$252.9M
Capital Expenditures $91.49M $34.97M
Free Cash Flow $64.33M -$287.9M
YoY Change -68.14% 92.36%

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Basis of Presentation<div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying unaudited consolidated financial statements and related disclosures have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") applicable to interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. In the opinion of management, all adjustments, consisting of only those of a normal recurring nature, considered necessary for a fair statement of the financial position and interim results of Mattel, Inc. and its subsidiaries ("Mattel") as of and for the periods presented have been included.</span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The December 31, 2023 balance sheet data was derived from audited financial statements; however, the accompanying interim notes to the consolidated financial statements do not include all of the annual disclosures required by GAAP. As Mattel's business is seasonal, results for interim periods are not necessarily indicative of those that may be expected for a full year. The financial information included herein should be read in conjunction with Mattel's consolidated financial statements and related notes in the 2023 Annual Report on Form 10-K.</span></div>Certain prior period amounts have been reclassified to conform to the current period presentation.
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us-gaap Income Tax Expense Benefit
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CY2024Q2 mat Discrete Net Tax Expense Benefit
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CY2024Q2 mat Accounts Receivable And Inventories Net
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