Mattel 2014 Annual Report Download - page 33

Item 6. Selected Financial Data.
For the Year Ended December 31,
2014 2013 2012 2011 2010
(In thousands, except per share and percentage information)
Operating Results:
Net sales .............................. $6,023,819 $6,484,892 $6,420,881 $6,266,037 $5,856,195
Gross profit ............................ 3,001,022 3,478,883 3,409,197 3,145,826 2,954,973
% of net sales ...................... 49.8% 53.6% 53.1% 50.2% 50.5%
Operating income (a) .................... 653,714 1,168,103 1,021,015 1,041,101 901,902
% of net sales ...................... 10.9% 18.0% 15.9% 16.6% 15.4%
Income before income taxes ............... 586,910 1,099,128 945,045 970,673 846,825
Provision for income taxes (b) ............. 88,036 195,184 168,581 202,165 161,962
Net income (a) ......................... $ 498,874 $ 903,944 $ 776,464 $ 768,508 $ 684,863
Net Income Per Common Share—Basic
(a) ................................. $ 1.46 $ 2.61 $ 2.25 $ 2.20 $ 1.88
Net Income Per Common Share—Diluted
(a) ................................. $ 1.45 $ 2.58 $ 2.22 $ 2.18 $ 1.86
Dividends Declared Per Common Share . . . $ 1.52 $ 1.44 $ 1.24 $ 0.92 $ 0.83
December 31,
2014 2013 2012 2011 2010
(In thousands)
Financial Position:
Total assets ............................ $6,722,046 $6,439,626 $6,526,785 $5,671,638 $5,417,733
Noncurrent liabilities .................... 2,684,026 2,140,627 1,743,729 2,022,107 1,438,867
Stockholders’ equity ..................... 2,949,071 3,251,559 3,067,044 2,610,603 2,628,584
(a) In 2012, a charge arising from the litigation between Mattel and MGA Entertainment, Inc. resulted in
reductions to operating income and net income of $137.8 million and $87.1 million, respectively. This
litigation charge also negatively impacted both basic and diluted net income per common share by $0.25
per share.
(b) The provision for income taxes in 2014 was positively impacted by net tax benefits of $42.6 million,
primarily related to reassessments of prior years’ tax liabilities based on the status of audits and tax filings
in various jurisdictions around the world, settlements, and enacted tax law changes, partially offset by a
tax charge related to a 2014 tax restructuring for the HIT Entertainment and MEGA Brands operations.
The provision for income taxes in 2013 was positively impacted by net tax benefits of $32.2 million,
primarily related to reassessments of prior years’ tax liabilities based on the status of audits and tax filings
in various jurisdictions around the world, settlements, and enacted tax law changes. The provision for
income taxes in 2012 was positively impacted by net tax benefits of $16.0 million, primarily related to
reassessments of prior years’ tax liabilities based on the status of audits and tax filings in various
jurisdictions around the world, settlements, and enacted tax law changes. The provision for income taxes
in 2011 was positively impacted by net tax benefits of $6.8 million, primarily related to reassessments of
prior years’ tax liabilities based on the status of audits and tax filings in various jurisdictions around the
world, settlements, and enacted tax law changes. The provision for income taxes in 2010 was positively
impacted by net tax benefits of $16.8 million, primarily related to the release of a valuation allowance
related to the anticipated utilization of excess foreign tax credit carryforwards, reassessments of prior
years’ tax liabilities based on the status of audits and tax filings in various jurisdictions around the world,
settlements, and enacted tax law changes, partially offset by the incremental tax cost to repatriate earnings
from certain foreign subsidiaries for which income taxes had not been previously provided.
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