Mattel 2005 Annual Report Download - page 73
Download and view the complete annual report
Please find page 73 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.-
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
 |
 |
The provision for current and deferred income taxes consists of the following (in thousands):
For the Year
2005 2004 2003
Current
Federal .................................................... $ 20,844 $ (8,456) $ 55,904
State ...................................................... 5,989 7,950 6,100
Foreign .................................................... 101,847 142,597 127,629
128,680 142,091 189,633
Deferred
Federal .................................................... 82,816 16,387 25,989
State ...................................................... 11,410 2,550 (5,800)
Foreign .................................................... 12,124 (37,497) (6,600)
106,350 (18,560) 13,589
Provision for income taxes ......................................... $235,030 $123,531 $203,222
Deferred income taxes are provided principally for tax credit carryforwards, net operating loss
carryforwards, research and development expenses, depreciation, employee compensation-related expenses and
certain other reserves that are recognized in different years for financial reporting and income tax purposes.
Mattel’s deferred income tax assets (liabilities) are comprised of the following (in thousands):
December 31,
2005 2004
Tax credit carryforwards .................................................. $219,218 $ 174,203
Loss carryforwards ....................................................... 177,316 136,782
Research and development expenses ......................................... 172,852 161,607
Allowances and reserves .................................................. 89,161 62,321
Intangible assets ......................................................... 54,780 72,088
Deferred compensation .................................................... 45,310 46,306
Loss on disposition of Learning Company ..................................... — 186,407
Other .................................................................. 46,058 43,958
Gross deferred income tax assets ........................................ 804,695 883,672
Intangible assets ......................................................... (35,884) (31,088)
Other .................................................................. (33,056) (17,235)
Gross deferred income tax liabilities ..................................... (68,940) (48,323)
Deferred income tax asset valuation allowances ................................ (201,809) (205,277)
Net deferred income tax assets .............................................. $533,946 $ 630,072
Net deferred income tax assets are reported in the consolidated balance sheets as follows (in thousands):
December 31,
2005 2004
Prepaid expenses and other current assets ..................................... $ 58,390 $ 74,467
Other noncurrent assets ................................................... 495,914 572,374
Accrued liabilities ........................................................ (1,396) (2,525)
Other noncurrent liabilities ................................................. (18,962) (14,244)
$533,946 $630,072
64