Employee Benefit Plans

6 Months Ended

Jun. 30, 2022

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 2021 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 Six Months Ended
	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
	(In thousands)				(In thousands)
Service cost	$	1,019	$	1,293	$	2,066	$	2,586
Interest cost	3,039		2,530		6,116		5,070
Expected return on plan assets	(4,826)		(4,637)		(9,704)		(9,264)
Amortization of prior service cost	73		119		113		230
Recognized actuarial loss	2,344		2,775		4,591		5,560
	$	1,649	$	2,080	$	3,182	$	4,182

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 Six Months Ended
	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
	(In thousands)				(In thousands)
Interest cost	$	22	$	19	$	44	$	39
Amortization of prior service credit	(509)		(509)		(1,018)		(1,019)
Recognized actuarial gain	(25)		(2)		(50)		(5)
	$	(512)	$	(492)	$	(1,024)	$	(985)

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 six months ended June 30, 2022, Mattel made cash contributions totaling approximately $2 million related to its defined benefit pension and postretirement benefit plans. During the remainder of 2022, Mattel expects to make additional cash contributions of approximately $4 million.