Mattel Reports Fourth Quarter and Full Year 2020 Financial Results
Fourth Quarter 2020 Highlights
-
Net Sales of$1,626 million , up 10% as reported, and in constant currency, versus prior year - Reported Gross Margin of 51.4%, an improvement of 300 basis points; Adjusted Gross Margin of 51.4%, an improvement of 250 basis points
-
Reported Operating Income of
$192.7 million , an improvement of$125.1 million ; Adjusted Operating Income of$205.0 million , an improvement of$95.7 million -
Reported Net Income of
$130.5 million , an improvement of$130.4 million -
Adjusted EBITDA of
$283.8 million , up 53%
Full Year 2020 Highlights
-
Net Sales of$4,584 million , up 2% as reported, including the unfavorable foreign exchange impact of$54 million , and up 3% in constant currency, versus prior year - Reported Gross Margin of 48.9%, an improvement of 490 basis points; Adjusted Gross Margin of 49.1%, an improvement of 420 basis points
-
Reported Operating Income of
$380.9 million , an improvement of$341.6 million ; Adjusted Operating Income of$447.6 million , an improvement of$291.5 million -
Reported Net Income of
$126.6 million , an improvement of$340.1 million -
Adjusted EBITDA of
$719.0 million , up 59% -
Cash Flows Provided by Operating Activities of
$289 million , an improvement of$108 million -
Free Cash Flow of
$167 million , an improvement of$102 million , achieving positive Free Cash Flow for the second consecutive year -
Announcing new “Optimizing for Growth” program to drive greater productivity to accelerate growth and to further reduce costs, with expected savings of
$250 million by 2023 - 2021 guidance to be provided on Company’s Q4 and full year 2020 conference call and live webcast
Our momentum was driven by the quality and breadth of our product offering, enduring strength of our brands, highly efficient supply chain, world-class commercial capabilities and very effective demand creation, in close collaboration with our retail partners. The continuous improvement in our performance puts us in a strong position from which we believe we can accelerate our growth.
I could not be more proud of the entire
For the fourth quarter,
For the year,
COVID-19 Business Update
Mattel’s top priority continues to be the health and safety of its people, and at the same time, mitigating the disruption of the COVID-19 pandemic to the business.
Financial Overview
Fourth Quarter 2020
Gross Billings in the
Gross Billings in the International segment increased 8% as reported and in constant currency, driven by growth in Vehicles (including Hot Wheels), Dolls (including Barbie, partially offset by lower billings of licensed dolls), Action Figures,
Reported Gross Margin increased to 51.4%, versus 48.4% in the prior year’s fourth quarter, and Adjusted Gross Margin increased to 51.4%, versus 48.9%. The increase in Reported Gross Margin was primarily driven by cost savings programs and reduced royalty expenses.
Reported Other Selling and Administrative Expenses decreased by
Full Year 2020
Gross Billings in the
Gross Billings in the International segment decreased 3% as reported, and 1% in constant currency, due to declines in Infant, Toddler, and Preschool (including Fisher-Price and Thomas & Friends and
Reported Gross Margin increased to 48.9%, versus 44.0% in the prior year, and Adjusted Gross Margin increased to 49.1%, versus 44.9%. The increase in Reported Gross Margin was primarily driven by cost savings programs and reduced royalty expenses.
Reported Other Selling and Administrative Expenses decreased by
For the twelve months ended
Gross Billings by Categories
Fourth Quarter 2020
Worldwide Gross Billings for Dolls were
Worldwide Gross Billings for Infant, Toddler, and Preschool were
Worldwide Gross Billings for Vehicles were
Worldwide Gross Billings for Action Figures,
Full Year 2020
Worldwide Gross Billings for Dolls were
Worldwide Gross Billings for Infant, Toddler, and Preschool were
Worldwide Gross Billings for Vehicles were
Worldwide Gross Billings for Action Figures,
“Optimizing for Growth” Program
Conference Call and Live Webcast
At
Forward-Looking Statements
This press release contains a number of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. The use of words such as “anticipates,” “expects,” “intends,” “plans,” “confident that” and “believes,” among others, generally identify forward-looking statements. These forward-looking statements are based on currently available operating, financial, economic and other information and assumptions, and are subject to a number of significant risks and uncertainties. A variety of factors, many of which are beyond our control, could cause actual future results to differ materially from those projected in the forward-looking statements, and are currently, or in the future could be, amplified by the COVID-19 pandemic. Specific factors that might cause such a difference include, but are not limited to: (i) potential impacts of and uncertainty regarding the COVID-19 pandemic (and actions taken in response to it by governments, businesses, and individuals) on our business operations, financial results and financial position and on the global economy, including its impact on our sales; (ii) Mattel’s ability to design, develop, produce, manufacture, source and ship products on a timely and cost-effective basis, as well as interest in and purchase of those products by retail customers and consumers in quantities and at prices that will be sufficient to profitably recover Mattel’s costs; (iii) downturns in economic conditions affecting Mattel’s markets which can negatively impact retail customers and consumers, and which can result in lower employment levels, lower consumer disposable income and spending, including lower spending on purchases of Mattel’s products; (iv) other factors which can lower discretionary consumer spending, such as higher costs for fuel and food, drops in the value of homes or other consumer assets, and high levels of consumer debt; (v) potential difficulties or delays
Non-GAAP Financial Measures
To supplement our financial results presented in accordance with generally accepted accounting principles in
This earnings release and our earnings slide presentation are available on
Adjusted Gross Profit and Adjusted Gross Margin
Adjusted Gross Profit and Adjusted Gross Margin represent reported Gross Profit and reported Gross Margin, respectively, adjusted to exclude severance and restructuring expenses and the impact of the inclined sleeper product recalls. Adjusted Gross Margin represents Mattel’s Adjusted Gross Profit, as a percentage of
Adjusted Other Selling and Administrative Expenses
Adjusted Other Selling and Administrative Expenses represents Mattel’s reported Other Selling and Administrative Expenses, adjusted to exclude severance and restructuring expenses, the impact of the inclined sleeper product recalls, and the impact of asset impairments, which are not part of Mattel’s core business. Adjusted Other Selling and Administrative Expenses is presented to provide additional perspective on underlying trends in Mattel’s core other selling and administrative expenses, which
Adjusted Operating Income (Loss) and Adjusted Operating Income (Loss) Margin
Adjusted Operating Income (Loss) and Adjusted Operating Income (Loss) Margin represent reported Operating Income (Loss) and reported Operating Income (Loss) Margin, respectively, adjusted to exclude severance and restructuring expenses, the impact of the inclined sleeper product recalls, and the impact of asset impairments, which are not part of Mattel’s core business. Adjusted Operating Income (Loss) Margin represents Mattel’s Adjusted Operating Income (Loss), as a percentage of
Adjusted Earnings (Loss) Per Share
Adjusted Earnings (Loss) Per Share represents Mattel’s reported Diluted Earnings (Loss) Per Common Share, adjusted to exclude severance and restructuring expenses, the impact of the inclined sleeper product recalls, and the impact of asset impairments, which are not part of Mattel’s core business. The aggregate tax effect of the adjustments is calculated by tax effecting the adjustments by the current effective tax rate, adjusting for certain discrete tax items, and dividing by the reported weighted-average number of common shares. Adjusted Earnings (Loss) Per Share is presented to provide additional perspective on underlying trends in Mattel’s core business.
EBITDA and Adjusted EBITDA
EBITDA represents Mattel’s Net Income (Loss), adjusted to exclude the impact of interest expense, taxes, depreciation, and amortization. Adjusted EBITDA represents EBITDA adjusted to exclude share-based compensation, severance, and restructuring expenses, the impact of the inclined sleeper product recalls, and the impact of asset impairments, which are not part of Mattel’s core business.
Free Cash Flow
Free Cash Flow represents Mattel’s net cash flows from operating activities less capital expenditures.
Leverage Ratio (Debt / Adjusted EBITDA)
The leverage ratio is calculated by dividing Debt by adjusted EBITDA. Debt represents the aggregate of Mattel’s current portion of long-term debt, short-term borrowings, and long-term debt, excluding the impact of debt issuance costs and debt discount.
Constant Currency
Percentage changes in results expressed in constant currency are presented excluding the impact from changes in currency exchange rates. To present this information,
Key Performance Indicator
Gross Billings
Gross Billings represent amounts invoiced to customers. It does not include the impact of sales adjustments, such as trade discounts and other allowances.
About
EXHIBIT I |
||||||||||||||||||||||||||||||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)1 | ||||||||||||||||||||||||||||||||||||||||
For the Three Months Ended |
For the Year Ended |
|||||||||||||||||||||||||||||||||||||||
2020 |
2019 |
% Change as
|
% Change
|
2020 |
2019 |
% Change as
|
% Change
|
|||||||||||||||||||||||||||||||||
(In millions, except per share and percentage information) |
$ Amt |
% |
$ Amt |
% |
$ Amt |
% |
$ Amt |
% |
||||||||||||||||||||||||||||||||
$ |
1,625.8 |
|
$ |
1,473.7 |
|
10 |
% |
10 |
% |
$ |
4,583.7 |
|
$ |
4,504.6 |
|
2 |
% |
3 |
% |
|||||||||||||||||||||
Cost of sales |
|
790.6 |
|
48.6 |
% |
|
760.5 |
|
51.6 |
% |
4 |
% |
|
2,340.1 |
|
51.1 |
% |
|
2,523.8 |
|
56.0 |
% |
-7 |
% |
||||||||||||||||
Gross Profit |
|
835.2 |
|
51.4 |
% |
|
713.2 |
|
48.4 |
% |
17 |
% |
20 |
% |
|
2,243.6 |
|
48.9 |
% |
|
1,980.8 |
|
44.0 |
% |
13 |
% |
16 |
% |
||||||||||||
Advertising and promotion expenses |
|
277.8 |
|
17.1 |
% |
|
227.2 |
|
15.4 |
% |
22 |
% |
|
516.8 |
|
11.3 |
% |
|
551.5 |
|
12.2 |
% |
-6 |
% |
||||||||||||||||
Other selling and administrative expenses |
|
364.7 |
|
22.4 |
% |
|
418.4 |
|
28.4 |
% |
-13 |
% |
|
1,345.9 |
|
29.4 |
% |
|
1,390.0 |
|
30.9 |
% |
-3 |
% |
||||||||||||||||
Operating Income |
|
192.7 |
|
11.9 |
% |
|
67.6 |
|
4.6 |
% |
185 |
% |
221 |
% |
|
380.9 |
|
8.3 |
% |
|
39.2 |
|
0.9 |
% |
871 |
% |
912 |
% |
||||||||||||
Interest expense |
|
49.3 |
|
3.0 |
% |
|
60.2 |
|
4.1 |
% |
-18 |
% |
|
198.3 |
|
4.3 |
% |
|
201.0 |
|
4.5 |
% |
-1 |
% |
||||||||||||||||
Interest (income) |
|
(0.4 |
) |
0.0 |
% |
|
(1.5 |
) |
-0.1 |
% |
-75 |
% |
|
(3.9 |
) |
-0.1 |
% |
|
(6.2 |
) |
-0.1 |
% |
-36 |
% |
||||||||||||||||
Other non-operating (income) expense, net |
|
(4.3 |
) |
|
0.2 |
|
|
2.7 |
|
|
1.9 |
|
||||||||||||||||||||||||||||
Income (Loss) Before Income Taxes |
|
148.1 |
|
9.1 |
% |
|
8.7 |
|
0.6 |
% |
n/m |
|
n/m |
|
|
183.8 |
|
4.0 |
% |
|
(157.5 |
) |
-3.5 |
% |
n/m |
|
n/m |
|
||||||||||||
Provision for income taxes |
|
21.8 |
|
|
9.0 |
|
|
68.6 |
|
|
55.2 |
|
||||||||||||||||||||||||||||
Income (loss) from equity method investments |
|
4.3 |
|
|
0.4 |
|
|
11.5 |
|
|
(0.8 |
) |
||||||||||||||||||||||||||||
Net Income (Loss) |
$ |
130.5 |
|
8.0 |
% |
$ |
0.2 |
|
0.0 |
% |
n/m |
|
$ |
126.6 |
|
2.8 |
% |
$ |
(213.5 |
) |
-4.7 |
% |
n/m |
|
||||||||||||||||
Net Income (Loss) Per Common Share - Basic |
$ |
0.38 |
|
$ |
0.00 |
|
$ |
0.36 |
|
$ |
(0.62 |
) |
||||||||||||||||||||||||||||
Weighted-average number of common shares |
|
347.7 |
|
|
346.7 |
|
|
347.5 |
|
|
346.1 |
|
||||||||||||||||||||||||||||
Net Income (Loss) per Common Share - Diluted |
$ |
0.37 |
|
$ |
0.00 |
|
$ |
0.36 |
|
$ |
(0.62 |
) |
||||||||||||||||||||||||||||
Weighted-average number of common and potential common shares |
|
351.0 |
|
|
348.3 |
|
|
349.1 |
|
|
346.1 |
|
1 Amounts may not foot due to rounding. |
n/m - Not Meaningful |
EXHIBIT II |
||||||
CONDENSED CONSOLIDATED BALANCE SHEETS1 | ||||||
|
||||||
2020 |
2019 |
|||||
(In millions) |
(Unaudited) |
|||||
Assets | ||||||
Cash and equivalents |
$ |
762.2 |
$ |
630.0 |
||
Accounts receivable, net |
|
1,034.0 |
|
936.4 |
||
Inventories |
|
514.7 |
|
495.5 |
||
Prepaid expenses and other current assets |
|
172.1 |
|
186.1 |
||
Total current assets |
|
2,482.9 |
|
2,248.0 |
||
Property, plant, and equipment, net |
|
473.8 |
|
550.1 |
||
Right-of-use assets, net |
|
291.6 |
|
303.2 |
||
Other noncurrent assets |
|
2,272.8 |
|
2,223.9 |
||
Total Assets |
$ |
5,521.1 |
$ |
5,325.2 |
||
Liabilities and Stockholders' Equity | ||||||
Short-term borrowings |
$ |
1.0 |
$ |
- |
||
Accounts payable and accrued liabilities |
|
1,327.3 |
|
1,228.9 |
||
Income taxes payable |
|
27.1 |
|
48.0 |
||
Total current liabilities |
|
1,355.4 |
|
1,276.9 |
||
Long-term debt |
|
2,854.7 |
|
2,846.8 |
||
Noncurrent lease liabilities |
|
249.4 |
|
270.9 |
||
Other noncurrent liabilities |
|
465.4 |
|
439.0 |
||
Stockholders' equity |
|
596.3 |
|
491.7 |
||
Total Liabilities and Stockholders' Equity |
$ |
5,521.1 |
$ |
5,325.2 |
EXHIBIT II |
||||||||
SUPPLEMENTAL BALANCE SHEET AND CASH FLOW DATA (Unaudited)1 | ||||||||
|
||||||||
2020 |
2019 |
|||||||
Key Balance Sheet Data: | ||||||||
Accounts receivable, net days of sales outstanding (DSO) |
|
57 |
|
|
57 |
|
||
For the Year Ended |
||||||||
(In millions) |
2020 |
2019 |
||||||
Condensed Cash Flow Data: | ||||||||
Cash flows provided by operating activities |
$ |
289 |
|
$ |
181 |
|
||
Cash flows used for investing activities |
|
(135 |
) |
|
(114 |
) |
||
Cash flows used for financing activities and other |
|
(21 |
) |
|
(31 |
) |
||
Increase in cash and equivalents |
$ |
132 |
|
$ |
36 |
|
1 Amounts may not foot due to rounding. |
EXHIBIT III |
||||||||||||||||||||||
SUPPLEMENTAL FINANCIAL INFORMATION (Unaudited)1 | ||||||||||||||||||||||
RECONCILIATION OF GAAP AND NON-GAAP FINANCIAL MEASURES | ||||||||||||||||||||||
For the Three Months Ended |
For the Year Ended |
|||||||||||||||||||||
(In millions, except per share and percentage information) |
2020 |
2019 |
Change |
2020 |
2019 |
Change |
||||||||||||||||
Gross Profit | ||||||||||||||||||||||
Gross Profit, As Reported |
$ |
835.2 |
|
$ |
713.2 |
|
$ |
2,243.6 |
|
$ |
1,980.8 |
|
||||||||||
Gross Margin |
|
51.4 |
% |
|
48.4 |
% |
+ 300 bps |
|
48.9 |
% |
|
44.0 |
% |
+ 490 bps | ||||||||
Adjustments: | ||||||||||||||||||||||
Severance and Restructuring Expenses |
|
0.8 |
|
|
6.7 |
|
|
5.7 |
|
|
18.6 |
|
||||||||||
Inclined Sleeper Product Recalls2 |
|
- |
|
|
0.4 |
|
|
- |
|
|
21.7 |
|
||||||||||
Gross Profit, As Adjusted |
$ |
836.0 |
|
$ |
720.3 |
|
$ |
2,249.3 |
|
$ |
2,021.1 |
|
||||||||||
Adjusted Gross Margin |
|
51.4 |
% |
|
48.9 |
% |
+ 250 bps |
|
49.1 |
% |
|
44.9 |
% |
+ 420 bps | ||||||||
Other Selling and Administrative Expenses | ||||||||||||||||||||||
Other Selling and Administrative Expenses, As Reported |
$ |
364.7 |
|
$ |
418.4 |
|
-13 |
% |
$ |
1,345.9 |
|
$ |
1,390.0 |
|
-3 |
% |
||||||
% of |
|
22.4 |
% |
|
28.4 |
% |
|
29.4 |
% |
|
30.9 |
% |
||||||||||
Adjustments: | ||||||||||||||||||||||
Severance and Restructuring Expenses |
|
(4.5 |
) |
|
(6.1 |
) |
|
(34.9 |
) |
|
(40.5 |
) |
||||||||||
Inclined Sleeper Product Recalls2 |
|
(7.0 |
) |
|
(2.6 |
) |
|
(26.2 |
) |
|
(10.3 |
) |
||||||||||
Asset Impairments3 |
|
- |
|
|
(25.9 |
) |
|
- |
|
|
(25.9 |
) |
||||||||||
Other Selling and Administrative Expenses, As Adjusted |
$ |
353.2 |
|
$ |
383.8 |
|
-8 |
% |
$ |
1,284.8 |
|
$ |
1,313.4 |
|
-2 |
% |
||||||
% of |
|
21.7 |
% |
|
26.0 |
% |
|
28.0 |
% |
|
29.2 |
% |
||||||||||
Operating Income | ||||||||||||||||||||||
Operating Income, As Reported |
$ |
192.7 |
|
$ |
67.6 |
|
185 |
% |
$ |
380.9 |
|
$ |
39.2 |
|
871 |
% |
||||||
Operating Income Margin |
|
11.9 |
% |
|
4.6 |
% |
|
8.3 |
% |
|
0.9 |
% |
||||||||||
Adjustments: | ||||||||||||||||||||||
Severance and Restructuring Expenses |
|
5.3 |
|
|
12.7 |
|
|
40.6 |
|
|
59.1 |
|
||||||||||
Inclined Sleeper Product Recalls2 |
|
7.0 |
|
|
3.1 |
|
|
26.2 |
|
|
32.0 |
|
||||||||||
Asset Impairments3 |
|
- |
|
|
25.9 |
|
|
- |
|
|
25.9 |
|
||||||||||
Operating Income, As Adjusted |
$ |
205.0 |
|
$ |
109.3 |
|
88 |
% |
$ |
447.6 |
|
$ |
156.2 |
|
187 |
% |
||||||
Adjusted Operating Income Margin |
|
12.6 |
% |
|
7.4 |
% |
|
9.8 |
% |
|
3.5 |
% |
||||||||||
Other Information | ||||||||||||||||||||||
Inclined Sleeper Product Recalls2 |
$ |
7.0 |
|
$ |
3.5 |
|
$ |
26.2 |
|
$ |
37.8 |
|
1 Amounts may not foot due to rounding. | ||||||||||||||
2 For the three months and year ended |
||||||||||||||
3 For the three months and year ended |
EXHIBIT III |
|||||||||||||||||||||
SUPPLEMENTAL FINANCIAL INFORMATION (Unaudited)1 | |||||||||||||||||||||
RECONCILIATION OF GAAP AND NON-GAAP FINANCIAL MEASURES | |||||||||||||||||||||
For the Three Months Ended |
For the Year Ended |
||||||||||||||||||||
(In millions, except per share and percentage information) |
2020 |
2019 |
Change |
2020 |
2019 |
Change |
|||||||||||||||
Earnings Per Share | |||||||||||||||||||||
Net Income (Loss) Per Common Share, As Reported |
$ |
0.37 |
$ |
0.00 |
|
n/m |
|
$ |
0.36 |
|
$ |
(0.62 |
) |
n/m |
|
||||||
Adjustments: | |||||||||||||||||||||
Severance and Restructuring Expenses |
|
0.02 |
|
0.04 |
|
|
0.12 |
|
|
0.17 |
|
||||||||||
Inclined Sleeper Product Recalls2 |
|
0.02 |
|
0.01 |
|
|
0.07 |
|
|
0.09 |
|
||||||||||
Asset Impairments3 |
|
- |
|
0.07 |
|
|
- |
|
|
0.07 |
|
||||||||||
Tax Effect of Adjustments4 |
|
- |
|
(0.01 |
) |
|
(0.01 |
) |
|
(0.02 |
) |
||||||||||
Net Income (Loss) Per Common Share, As Adjusted |
$ |
0.40 |
$ |
0.11 |
|
264 |
% |
$ |
0.54 |
|
$ |
(0.30 |
) |
n/m |
|
||||||
EBITDA and Adjusted EBITDA | |||||||||||||||||||||
Net Income (Loss), As Reported |
$ |
130.5 |
$ |
0.2 |
|
n/m |
|
$ |
126.6 |
|
$ |
(213.5 |
) |
n/m |
|
||||||
Adjustments: | |||||||||||||||||||||
Interest Expense |
|
49.3 |
|
60.2 |
|
|
198.3 |
|
|
201.0 |
|
||||||||||
Provision for Income Taxes |
|
21.8 |
|
9.0 |
|
|
68.6 |
|
|
55.2 |
|
||||||||||
Depreciation |
|
40.9 |
|
48.2 |
|
|
161.0 |
|
|
204.4 |
|
||||||||||
Amortization |
|
9.5 |
|
10.0 |
|
|
38.9 |
|
|
40.1 |
|
||||||||||
EBITDA |
$ |
252.1 |
$ |
127.5 |
|
$ |
593.5 |
|
$ |
287.3 |
|
||||||||||
Adjustments: | |||||||||||||||||||||
Share-based Compensation |
|
20.2 |
|
16.8 |
|
|
60.2 |
|
|
56.0 |
|
||||||||||
Severance and Restructuring Expenses |
|
4.5 |
|
12.0 |
|
|
39.1 |
|
|
52.0 |
|
||||||||||
Inclined Sleeper Product Recalls2 |
|
7.0 |
|
3.1 |
|
|
26.2 |
|
|
32.0 |
|
||||||||||
Asset Impairments3 |
|
- |
|
25.9 |
|
|
- |
|
|
25.9 |
|
||||||||||
Adjusted EBITDA |
$ |
283.8 |
$ |
185.2 |
|
53 |
% |
$ |
719.0 |
|
$ |
453.1 |
|
59 |
% |
||||||
Leverage Ratio (Debt / Adjusted EBITDA) | |||||||||||||||||||||
Long-term debt |
$ |
2,854.7 |
|
$ |
2,846.8 |
|
|||||||||||||||
Current portion of long-term debt |
|
- |
|
|
- |
|
|||||||||||||||
Short-term borrowings |
|
1.0 |
|
|
- |
|
|||||||||||||||
Adjustments: | |||||||||||||||||||||
Debt issuance costs and debt discount |
|
45.3 |
|
|
53.2 |
|
|||||||||||||||
Debt |
$ |
2,901.0 |
|
$ |
2,900.0 |
|
|||||||||||||||
Debt / Net Income (Loss) | 22.9x | (13.6)x | |||||||||||||||||||
Leverage Ratio (Debt / Adjusted EBITDA) | 4.0x | 6.4x | |||||||||||||||||||
Free Cash Flow | |||||||||||||||||||||
Net Cash Flows Provided by Operating Activities |
$ |
288.5 |
|
$ |
181.0 |
|
|||||||||||||||
Capital Expenditures |
|
(121.6 |
) |
|
(116.4 |
) |
|||||||||||||||
Free Cash Flow |
$ |
166.9 |
|
$ |
64.6 |
|
1 Amounts may not foot due to rounding. |
2 For the three months and year ended |
3 For the three months and year ended |
4 The aggregate tax effect of the adjustments is calculated by tax effecting the adjustments by the current effective tax rate, and dividing by the reported weighted average number of common and potential common shares. Adjustments for the |
n/m - Not meaningful |
EXHIBIT IV |
||||||||||||||||||||||||
WORLDWIDE GROSS BILLINGS1 (Unaudited)3 | ||||||||||||||||||||||||
SUPPLEMENTAL KEY PERFORMANCE INDICATOR | ||||||||||||||||||||||||
For the Three Months Ended |
For the Year Ended |
|||||||||||||||||||||||
(In millions, except percentage information) |
2020 |
2019 |
% Change
|
% Change in
|
2020 |
2019 |
% Change
|
% Change in
|
||||||||||||||||
Worldwide Gross Billings: | ||||||||||||||||||||||||
$ |
1,625.8 |
$ |
1,473.7 |
10 |
% |
10 |
% |
$ |
4,583.7 |
$ |
4,504.6 |
2 |
% |
3 |
% |
|||||||||
Sales Adjustments2 |
|
209.1 |
|
191.6 |
|
554.2 |
|
560.0 |
||||||||||||||||
Gross Billings |
$ |
1,834.9 |
$ |
1,665.3 |
10 |
% |
10 |
% |
$ |
5,137.8 |
$ |
5,064.6 |
1 |
% |
3 |
% |
||||||||
Worldwide Gross Billings by Categories: | ||||||||||||||||||||||||
Dolls |
$ |
709.1 |
$ |
630.1 |
13 |
% |
13 |
% |
$ |
1,886.4 |
$ |
1,724.0 |
9 |
% |
11 |
% |
||||||||
Infant, Toddler and Preschool |
|
405.5 |
|
381.1 |
6 |
|
7 |
|
|
1,149.7 |
|
1,257.6 |
-9 |
|
-8 |
|
||||||||
Vehicles |
|
396.3 |
|
356.9 |
11 |
|
12 |
|
|
1,110.0 |
|
1,101.3 |
1 |
|
3 |
|
||||||||
Action Figures, |
|
324.0 |
|
297.2 |
9 |
|
9 |
|
|
991.6 |
|
981.6 |
1 |
|
2 |
|
||||||||
Gross Billings |
$ |
1,834.9 |
$ |
1,665.3 |
10 |
% |
10 |
% |
$ |
5,137.8 |
$ |
5,064.6 |
1 |
% |
3 |
% |
||||||||
Supplemental Gross Billings Disclosure | ||||||||||||||||||||||||
Worldwide Gross Billings by Top 3 Power Brands: | ||||||||||||||||||||||||
Barbie |
$ |
471.1 |
$ |
396.9 |
19 |
% |
18 |
% |
$ |
1,350.1 |
$ |
1,159.8 |
16 |
% |
18 |
% |
||||||||
Hot Wheels |
|
346.3 |
|
306.8 |
13 |
|
14 |
|
|
954.2 |
|
925.9 |
3 |
|
5 |
|
||||||||
Fisher-Price and Thomas & Friends |
|
372.8 |
|
340.6 |
9 |
|
10 |
|
|
1,065.5 |
|
1,131.8 |
-6 |
|
-5 |
|
||||||||
Other |
|
644.6 |
|
620.9 |
4 |
|
4 |
|
|
1,768.0 |
|
1,847.2 |
-4 |
|
-3 |
|
||||||||
Gross Billings |
$ |
1,834.9 |
$ |
1,665.3 |
10 |
% |
10 |
% |
$ |
5,137.8 |
$ |
5,064.6 |
1 |
% |
3 |
% |
1 Gross Billings represent amounts invoiced to customers. It does not include the impact of sales adjustments, such as trade discounts and other allowances. |
2 Sales Adjustments are not allocated to individual products. As such, |
3 Amounts may not foot due to rounding. |
EXHIBIT V |
||||||||||||||||||||||||
GROSS BILLINGS1 BY SEGMENT (Unaudited)3 | ||||||||||||||||||||||||
SUPPLEMENTAL KEY PERFORMANCE INDICATOR | ||||||||||||||||||||||||
For the Three Months Ended |
For the Year Ended |
|||||||||||||||||||||||
(In millions, except percentage information) |
2020 |
2019 |
% Change
|
% Change in
|
2020 |
2019 |
% Change
|
% Change in
|
||||||||||||||||
North America Segment Gross Billings: | ||||||||||||||||||||||||
$ |
779.4 |
$ |
689.6 |
13 |
% |
13 |
% |
$ |
2,424.6 |
$ |
2,275.8 |
7 |
% |
7 |
% |
|||||||||
Sales Adjustments2 |
|
49.5 |
|
45.5 |
|
163.2 |
|
156.5 |
||||||||||||||||
Gross Billings |
$ |
828.9 |
$ |
735.1 |
13 |
% |
13 |
% |
$ |
2,587.8 |
$ |
2,432.3 |
6 |
% |
6 |
% |
||||||||
North America Gross Billings by Categories: | ||||||||||||||||||||||||
Dolls |
$ |
247.0 |
$ |
211.9 |
17 |
% |
16 |
% |
$ |
770.6 |
$ |
636.2 |
21 |
% |
21 |
% |
||||||||
Infant, Toddler and Preschool |
|
237.1 |
|
205.1 |
16 |
|
16 |
|
|
701.4 |
|
730.3 |
-4 |
|
-4 |
|
||||||||
Vehicles |
|
173.0 |
|
166.5 |
4 |
|
4 |
|
|
529.2 |
|
510.8 |
4 |
|
4 |
|
||||||||
Action Figures, |
|
171.8 |
|
151.6 |
13 |
|
13 |
|
|
586.6 |
|
555.0 |
6 |
|
6 |
|
||||||||
Gross Billings |
$ |
828.9 |
$ |
735.1 |
13 |
% |
13 |
% |
$ |
2,587.8 |
$ |
2,432.3 |
6 |
% |
6 |
% |
||||||||
Supplemental Gross Billings Disclosure | ||||||||||||||||||||||||
North America Gross Billings by Top 3 Power Brands: | ||||||||||||||||||||||||
Barbie |
$ |
226.5 |
$ |
189.4 |
20 |
% |
20 |
% |
$ |
704.2 |
$ |
558.3 |
26 |
% |
26 |
% |
||||||||
Hot Wheels |
|
149.8 |
|
142.6 |
5 |
|
5 |
|
|
446.6 |
|
419.0 |
7 |
|
7 |
|
||||||||
Fisher-Price and Thomas & Friends |
|
211.7 |
|
178.7 |
18 |
|
18 |
|
|
634.9 |
|
650.7 |
-2 |
|
-2 |
|
||||||||
Other |
|
240.9 |
|
224.5 |
7 |
|
7 |
|
|
802.1 |
|
804.2 |
0 |
|
0 |
|
||||||||
Gross Billings |
$ |
828.9 |
$ |
735.1 |
13 |
% |
13 |
% |
$ |
2,587.8 |
$ |
2,432.3 |
6 |
% |
6 |
% |
1 Gross Billings represent amounts invoiced to customers. It does not include the impact of sales adjustments, such as trade discounts and other allowances. |
2 Sales Adjustments are not allocated to individual products. As such, |
3 Amounts may not foot due to rounding. |
|
|
EXHIBIT VI |
||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
GROSS BILLINGS1 BY SEGMENT (Unaudited)3 |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
SUPPLEMENTAL KEY PERFORMANCE INDICATOR |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
For the Three Months Ended |
|
For the Year Ended |
|||||||||||||||||||||
(In millions, except percentage information) |
2020 |
|
2019 |
|
% Change
|
% Change in
|
2020 |
|
2019 |
|
% Change
|
% Change in
|
||||||||||||
International Segment Gross Billings: |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
$ |
704.7 |
|
$ |
657.2 |
|
7 |
% |
|
8 |
% |
|
$ |
1,900.7 |
|
$ |
1,972.2 |
|
-4 |
% |
|
-1 |
% |
|
Sales Adjustments2 |
|
155.7 |
|
|
139.2 |
|
|
|
|
|
|
382.8 |
|
|
391.6 |
|
|
|
|
|||||
Gross Billings |
$ |
860.4 |
|
$ |
796.4 |
|
8 |
% |
|
8 |
% |
|
$ |
2,283.5 |
|
$ |
2,363.8 |
|
-3 |
% |
|
-1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
International Gross Billings by Geographic Area: |
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
EMEA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
$ |
397.1 |
|
$ |
353.1 |
|
12 |
% |
|
10 |
% |
|
$ |
1,129.7 |
|
$ |
1,056.4 |
|
7 |
% |
|
6 |
% |
|
Sales Adjustments2 |
|
98.2 |
|
|
80.7 |
|
|
|
|
|
|
247.4 |
|
|
236.6 |
|
|
|
|
|||||
Gross Billings |
$ |
495.2 |
|
$ |
433.8 |
|
14 |
% |
|
12 |
% |
|
$ |
1,377.1 |
|
$ |
1,292.9 |
|
7 |
% |
|
6 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
$ |
187.2 |
|
$ |
197.5 |
|
-5 |
% |
|
3 |
% |
|
$ |
455.2 |
|
$ |
565.4 |
|
-19 |
% |
|
-9 |
% |
|
Sales Adjustments2 |
|
36.2 |
|
|
38.5 |
|
|
|
|
|
|
82.2 |
|
|
100.7 |
|
|
|
|
|||||
Gross Billings |
$ |
223.4 |
|
$ |
236.0 |
|
-5 |
% |
|
3 |
% |
|
$ |
537.4 |
|
$ |
666.1 |
|
-19 |
% |
|
-9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
$ |
120.5 |
|
$ |
106.6 |
|
13 |
% |
|
9 |
% |
|
$ |
315.8 |
|
$ |
350.4 |
|
-10 |
% |
|
-10 |
% |
|
Sales Adjustments2 |
|
21.3 |
|
|
20.0 |
|
|
|
|
|
|
53.2 |
|
|
54.4 |
|
|
|
|
|||||
Gross Billings |
$ |
141.8 |
|
$ |
126.6 |
|
12 |
% |
|
8 |
% |
|
$ |
369.0 |
|
$ |
404.7 |
|
-9 |
% |
|
-9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
International Gross Billings by Categories: |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Dolls |
$ |
316.5 |
|
$ |
284.4 |
|
11 |
% |
|
11 |
% |
|
$ |
849.4 |
|
$ |
819.4 |
|
4 |
% |
|
7 |
% |
|
Infant, Toddler and Preschool |
|
168.4 |
|
|
176.0 |
|
-4 |
|
|
-4 |
|
|
|
448.4 |
|
|
527.3 |
|
-15 |
|
|
-13 |
|
|
Vehicles |
|
223.3 |
|
|
190.4 |
|
17 |
|
|
19 |
|
|
|
580.8 |
|
|
590.5 |
|
-2 |
|
|
2 |
|
|
Action Figures, |
|
152.2 |
|
|
145.6 |
|
5 |
|
|
4 |
|
|
|
405.0 |
|
|
426.5 |
|
-5 |
|
|
-3 |
|
|
Gross Billings |
$ |
860.4 |
|
$ |
796.4 |
|
8 |
% |
|
8 |
% |
|
$ |
2,283.5 |
|
$ |
2,363.8 |
|
-3 |
% |
|
-1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Supplemental Gross Billings Disclosure |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
International Gross Billings by Top 3 Power Brands: |
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Barbie |
$ |
244.6 |
|
$ |
207.6 |
|
18 |
% |
|
17 |
% |
|
$ |
645.9 |
|
$ |
601.4 |
|
7 |
% |
|
10 |
% |
|
Hot Wheels |
|
196.5 |
|
|
164.3 |
|
20 |
|
|
22 |
|
|
|
507.6 |
|
|
506.9 |
|
0 |
|
|
4 |
|
|
Fisher-Price and Thomas & Friends |
|
161.1 |
|
|
162.0 |
|
0 |
|
|
0 |
|
|
|
430.6 |
|
|
481.0 |
|
-10 |
|
|
-8 |
|
|
Other |
|
258.1 |
|
|
262.6 |
|
-2 |
|
|
-1 |
|
|
|
699.3 |
|
|
774.5 |
|
-10 |
|
|
-7 |
|
|
Gross Billings |
$ |
860.4 |
|
$ |
796.4 |
|
8 |
% |
|
8 |
% |
|
$ |
2,283.5 |
|
$ |
2,363.8 |
|
-3 |
% |
|
-1 |
% |
1 Gross Billings represent amounts invoiced to customers. It does not include the impact of sales adjustments, such as trade discounts and other allowances. |
2 Sales Adjustments are not allocated to individual products. As such, |
3 Amounts may not foot due to rounding. |
|
|
EXHIBIT VII |
||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
GROSS BILLINGS1 BY SEGMENT (Unaudited)3 |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
SUPPLEMENTAL KEY PERFORMANCE INDICATOR |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
For the Three Months Ended |
|
For the Year Ended |
|||||||||||||||||||||
(In millions, except percentage information) |
2020 |
|
2019 |
|
% Change
|
% Change in
|
2020 |
|
2019 |
|
% Change
|
% Change in
|
||||||||||||
American Girl Segment Gross Billings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
$ |
141.6 |
|
$ |
126.9 |
|
12 |
% |
|
12 |
% |
|
$ |
258.4 |
|
$ |
256.6 |
|
1 |
% |
|
1 |
% |
|
Sales Adjustments2 |
|
4.0 |
|
|
6.9 |
|
|
|
|
|
|
8.1 |
|
|
11.9 |
|
|
|
|
|||||
Gross Billings |
$ |
145.6 |
|
$ |
133.8 |
|
9 |
% |
|
9 |
% |
|
$ |
266.5 |
|
$ |
268.5 |
|
-1 |
% |
|
-1 |
% |
1 Gross Billings represent amounts invoiced to customers. It does not include the impact of sales adjustments, such as trade discounts and other allowances. |
2 Sales Adjustments are not allocated to individual products. |
3 Amounts may not foot due to rounding. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20210209006139/en/
News Media
catherine.frymark@mattel.com
Securities Analysts
david.zbojniewicz@mattel.com
Source: