Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Pre-Tax (Loss) Income

Consolidated pre-tax income (loss) consists of the following:

	For the Year Ended
	December 31, 2021		December 31, 2020		December 31, 2019
	(In thousands)
U.S. operations	$	9,612	$	(172,478)	$	(329,112)
Foreign operations	461,152		350,135		169,457
Consolidated pre-tax income (loss) excluding equity method	$	470,764	$	177,657	$	(159,655)

Schedule of Provision (Benefit) for Current and Deferred Income Taxes

The (benefit) provision for current and deferred income taxes consists of the following:

	For the Year Ended
	December 31, 2021		December 31, 2020		December 31, 2019
	(In thousands)
Current
Federal	$	(9,819)	$	—	$	5,520
State	(4,060)		(575)		2,170
Foreign	81,899		78,870		68,837
	68,020		78,295		76,527
Deferred
Federal	(229,217)		1,164		(2,510)
State	(27,970)		(481)		68
Foreign	(231,214)		(13,429)		(15,761)
	(488,401)		(12,746)		(18,203)
(Benefit) provision for income taxes	$	(420,381)	$	65,549	$	58,324

Schedule of Deferred Income Tax Assets (Liabilities)

Mattel’s deferred income tax assets (liabilities) are composed of the following:

	December 31, 2021		December 31, 2020
	(In thousands)
Tax credit carryforwards	$	100,575	$	71,428
Research and development expenses	27,996		41,862
Net operating loss carryforwards	124,792		161,846
Interest expense	90,671		108,069
Allowances and reserves	102,634		92,372
Deferred compensation	66,183		60,665
Postretirement benefits	31,841		38,182
Intangible assets	219,629		231,527
Lease liabilities	70,712		74,600
Other	46,382		42,058
Gross deferred income tax assets	881,415		922,609
Intangible assets	(189,021)		(187,001)
Right-of-use assets	(63,206)		(66,404)
Other	(40,781)		(25,500)
Gross deferred income tax liabilities	(293,008)		(278,905)
Deferred income tax asset valuation allowances	(101,489)		(631,914)
Net deferred income tax assets	$	486,918	$	11,790

Net deferred income tax assets are reported in the consolidated balance sheets as follows:

	December 31, 2021		December 31, 2020
	(In thousands)
Other noncurrent assets	$	526,906	$	72,682
Other noncurrent liabilities	(39,988)		(60,892)
	$	486,918	$	11,790

Schedule of Expiration of Loss and Tax Credit Carryforwards

Mattel’s loss and tax credit carryforwards expire in the following periods:

	Loss Carryforward		Tax Credit Carryforward
	(In thousands)
2022–2026	$	39,420	$	870
Thereafter	154,475		75,802
No expiration date	252,320		23,902
Total	$	446,215	$	100,574

Schedule of Reconciliation of Provision for Income Taxes at US Federal Statutory Rate to Provision in Statements of Operations

Differences between the provision for income taxes at the U.S. federal statutory income tax rate and the provision in the consolidated statements of operations are as follows:

	For the Year Ended
	December 31, 2021		December 31, 2020		December 31, 2019
	(In thousands)
Provision (benefit) at U.S. federal statutory rate	$	101,347	$	41,008	$	(33,240)
Differences resulting from:
Changes in valuation allowances	(540,803)		14,576		8,752
Foreign earnings taxed at different rates, including foreign losses without benefit	35,468		6,203		65,101
State and local taxes, net of U.S. federal (expense) benefit	(983)		(1,056)		2,438
Adjustments to previously accrued taxes	(19,101)		5,354		14,160
Change in indefinite reinvestment assertion	7,000		—		(2,700)
Other	(3,309)		(536)		3,813
(Benefit) provision for income taxes	$	(420,381)	$	65,549	$	58,324

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of the reserve for unrecognized tax benefits is as follows:

	For the Year Ended
	December 31, 2021		December 31, 2020		December 31, 2019
	(In thousands)
Unrecognized tax benefits at January 1	$	140,309	$	137,929	$	119,818
Increases for positions taken in current year	5,113		5,969		3,836
Increases for positions taken in a prior year	3,658		5,811		29,487
Decreases for positions taken in a prior year	(1,324)		(3,127)		(10,150)
Decreases for settlements with taxing authorities	(2,852)		(3,410)		(1,982)
Decreases for lapses in the applicable statute of limitations	(26,123)		(2,863)		(3,080)
Unrecognized tax benefits at December 31	$	118,781	$	140,309	$	137,929