Mattel 2002 Annual Report Download - page 73

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receivables facility, each sale of accounts receivable is recorded on Mattel’s consolidated balance sheet at the
time of such sale. No Mattel subsidiary is used as a special purpose entity in connection with these transactions.
Under the European receivables facility, the outstanding amount of receivables sold may not exceed
Euro 60 million from February 1 through July 31 of each year and may not exceed Euro 150 million at all other
times. Pursuant to a letter agreement between Societe Generale Nederland and Mattel International Holdings
B.V., Mattel France S.A.S. and Mattel GmbH dated July 1, 2002, the commitment termination date for the
European receivables facility was extended to June 29, 2003.
The outstanding amounts of accounts receivable that have been sold under these facilities and other
factoring arrangements, net of collections from customers, and have been excluded from Mattel’s consolidated
balance sheets are summarized as follows (in millions):
As of Year End
2002 2001
Receivables sold pursuant to the:
Domestic receivables facility ................................................ $276.1 $261.5
European receivables facility ................................................ 85.2 78.0
Other factoring arrangements .................................................... 76.0 159.2
$437.3 $498.7
Long-Term Debt
Mattel’s long-term debt consists of the following (in thousands):
As of Year End
2002 2001
Euro notes due 2002 ..................................................... $ — $ 177,900
Unsecured term loan due 2003 ............................................. — 200,000
6% senior notes due 2003 ................................................. 150,000 150,000
6
1
⁄
8
% senior notes due 2005 ............................................... 150,000 150,000
Medium-term notes ...................................................... 480,000 510,000
10.15% mortgage note due 2005 ........................................... 40,919 41,686
Other ................................................................. 1,446 1,423
822,365 1,231,009
Less: current portion ................................................. (182,295) (210,090)
Total long-term debt ............................................. $640,070 $1,020,919
Medium-term notes have maturity dates from 2003 through 2013 and bear interest at fixed rates from 6.50%
to 8.55%. During 2002 and 2001, Mattel repaid $30.0 million and $30.5 million, respectively, of medium-term
notes upon maturity.
During 2002, Mattel repaid its Euro 200 million aggregate principal amount of notes upon maturity and its
$200.0 million unsecured term loan.
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