Mattel 2005 Annual Report Download - page 30

Download and view the complete annual report

Please find page 30 of the 2005 Mattel annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 119

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119

Item 6. Selected Financial Data.
For the Year Ended December 31,
2005 2004 2003 2002 2001
(In thousands, except per share and percentage information)
Operating Results:
Net sales (a) .......................... $5,179,016 $5,102,786 $4,960,100 $4,885,340 $4,687,924
Gross profit .......................... 2,372,868 2,410,725 2,429,483 2,360,987 2,148,934
% of net sales ....................... 45.8% 47.2% 49.0% 48.3% 45.8%
Operating income (b) .................. 664,529 730,817 785,710 733,541 579,320
% of net sales ....................... 12.8% 14.3% 15.8% 15.0% 12.4%
Income before income taxes ............. 652,049 696,254 740,854 621,497 430,010
Provision for income taxes (c) ........... 235,030 123,531 203,222 166,455 119,090
Income from continuing operations ....... 417,019 572,723 537,632 455,042 310,920
Gain from discontinued operations, net of
tax(d) ............................———27,253 —
Cumulative effect of change in accounting
principle, net of tax (e) ...............———(252,194) (12,001)
Net income .......................... $ 417,019 $ 572,723 $ 537,632 $ 230,101 $ 298,919
Net Income Per Common Share—Basic:
Income from continuing operations ....... $ 1.02 $ 1.37 $ 1.23 $ 1.04 $ 0.72
Gain from discontinued operations (d) .....———0.06 —
Cumulative effect of change in accounting
principle (e) ........................———(0.58) (0.03)
Net income per common share—basic ..... 1.02 1.37 1.23 0.52 0.69
Net Income Per Common Share—
Diluted:
Income from continuing operations ....... 1.01 1.35 1.22 1.03 0.71
Gain from discontinued operations (d) .....———0.06 —
Cumulative effect of change in accounting
principle (e) ........................———(0.57) (0.03)
Net income per common share—diluted .... 1.01 1.35 1.22 0.52 0.68
Dividends Declared Per Common
Share ............................. $ 0.50 $ 0.45 $ 0.40 $ 0.05 $ 0.05
December 31,
2005 2004 2003 2002 2001
(In thousands)
Financial Position:
Total assets .......................... $4,372,313 $4,756,492 $4,510,950 $4,459,659 $4,509,817
Long-term liabilities ................... 807,395 643,509 826,983 832,194 1,205,122
Stockholders’ equity ................... 2,101,733 2,385,812 2,216,221 1,978,712 1,738,458
(a) As discussed in Note 1 to the consolidated financial statements, effective October 1, 2003, close out sales
previously classified as a reduction of cost of sales are now classified as net sales in Mattel’s consolidated
statements of operations. Close out sales for the fourth quarter of 2003, totaling $19.2 million, were
included in reported net sales. This change in classification had no impact on gross profit, operating
income, net income, net income per common share, balance sheets or cash flows. The following table
provides the quantification of total close out sales by year (in thousands):
For the Year Ended
2003 2002 2001
$57,328 $112,673 $163,388
21