Employee Benefit Plans

9 Months Ended

Sep. 30, 2021

Retirement Benefits [Abstract]

Employee Benefit Plans

Employee Benefit Plans

Mattel and certain of its subsidiaries have qualified and nonqualified retirement plans covering substantially all employees of these companies, which are more fully described in Part II, Item 8 "Financial Statements and Supplementary Data—Note 4 to the Consolidated Financial Statements–Employee Benefit Plans" in the 2020 Annual Report on Form 10-K.

A summary of the components of net periodic benefit cost for Mattel's defined benefit pension plans is as follows:

	For the Three Months Ended				For the Nine Months Ended
	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
	(In thousands)				(In thousands)
Service cost	$	1,194	$	1,015	$	3,780	$	3,236
Interest cost	2,525		3,729		7,595		11,247
Expected return on plan assets	(4,627)		(4,899)		(13,891)		(14,722)
Amortization of prior service cost	54		37		275		123
Recognized actuarial loss	2,832		2,355		8,401		7,070
Settlement loss	3,375		—		3,375		—
	$	5,353	$	2,237	$	9,535	$	6,954

A summary of the components of net periodic benefit cost for Mattel's postretirement benefit plans is as follows:

	For the Three Months Ended				For the Nine Months Ended
	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
	(In thousands)				(In thousands)
Interest cost	$	19	$	35	$	59	$	104
Amortization of prior service credit	(509)		(509)		(1,528)		(1,528)
Recognized actuarial gain	(2)		(19)		(7)		(56)
	$	(492)	$	(493)	$	(1,476)	$	(1,480)

Mattel's service cost component is recorded within operating income while other components of net periodic pension cost and postretirement benefit cost are recorded outside of operating income, presented in other non-operating expense, net.

During the nine months ended September 30, 2021, Mattel made cash contributions totaling approximately $10 million related to its defined benefit pension and postretirement benefit plans. During the remainder of 2021, Mattel expects to make additional cash contributions of approximately $12 million.