Mattel 2009 Annual Report Download - page 35

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Item 6. Selected Financial Data.
For the Year Ended December 31,
2009 2008 2007 2006 2005
(In thousands, except per share and percentage information)
Operating Results:
Net sales .............................. $5,430,846 $5,918,002 $5,970,090 $5,650,156 $5,179,016
Gross profit ............................ 2,714,697 2,684,406 2,777,300 2,611,793 2,372,868
% of net sales ......................... 50.0% 45.4% 46.5% 46.2% 45.8%
Operating income ....................... 731,168 541,792 730,078 728,818 664,529
% of net sales ......................... 13.5% 9.2% 12.2% 12.9% 12.8%
Income before income taxes ............... 660,047 487,964 703,398 683,756 652,049
Provision for income taxes (a) ............. 131,343 108,328 103,405 90,829 235,030
Net income ............................ $ 528,704 $ 379,636 $ 599,993 $ 592,927 $ 417,019
Net income per common share—basic ..... $ 1.45 $ 1.04 $ 1.55 $ 1.54 $ 1.02
Net income per common share—diluted .... $ 1.45 $ 1.04 $ 1.53 $ 1.53 $ 1.01
Dividends declared per common share ..... $ 0.75 $ 0.75 $ 0.75 $ 0.65 $ 0.50
December 31,
2009 2008 2007 2006 2005
(In thousands)
Financial Position:
Total assets .......................... $4,780,555 $4,675,039 $4,805,455 $4,955,884 $4,372,313
Noncurrent liabilities ................... 1,188,692 1,297,930 928,284 940,390 807,395
Stockholders’ equity ................... 2,530,989 2,117,135 2,306,742 2,432,974 2,101,733
(a) The provision for income taxes in 2009 was positively impacted by net tax benefits of $28.8 million related
to reassessments of prior years’ tax exposures based on the status of current audits in various jurisdictions
around the world, settlements, and enacted tax law changes. The provision for income taxes in 2007 was
positively impacted by net tax benefits of $42.0 million related to reassessments of prior years’ tax
exposures based on the status of audits in various jurisdictions around the world, including settlements,
partially offset by enacted tax law changes. The provision for income taxes in 2006 was positively impacted
by the Tax Increase Prevention and Reconciliation Act passed in May 2006, and tax benefits of $63.0
million related to tax settlements and refunds as a result of ongoing audits with foreign and state tax
authorities. The provision for income taxes in 2005 was negatively impacted by incremental tax expense of
$107.0 million, resulting from Mattel’s decision to repatriate $2.4 billion in previously unremitted foreign
earnings under the American Jobs Creation Act, partially offset by $38.6 million of tax benefits primarily
relating to tax settlements reached with various tax authorities and reassessments of tax exposures based on
the status of audits in various jurisdictions around the world.
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