Mattel 2010 Annual Report Download - page 72
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Identifiable intangibles include the following:
December 31,
2010 2009
(In thousands)
Identifiable intangibles (net of amortization of $64.2 million and $69.5 million at
December 31, 2010 and 2009, respectively) ................................... $ 91,359 $ 93,546
Nonamortizable identifiable intangibles ........................................ 122,223 122,223
$213,582 $215,769
In October 2010, Mattel acquired the intellectual property rights related to Phase 10®for $15.8 million,
including acquisition costs, which is included within amortizable identifiable intangibles.
In 2010, Mattel performed the annually required impairment tests and determined that its nonamortizable
intangible assets were not impaired. Mattel also tests its amortizable intangible assets for impairment whenever
events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. As a
result of these impairment tests, Mattel recorded impairment charges of approximately $8 million and $10
million during 2010 and 2009, respectively, which are reflected within other selling and administrative expenses.
Intangible assets were determined to not be impaired in 2008.
Note 3—Income Taxes
Consolidated pre-tax income consists of the following:
For the Year
2010 2009 2008
(In thousands)
US operations ................................................... $124,160 $107,593 $ (37,808)
Foreign operations ............................................... 722,665 552,454 525,772
$846,825 $660,047 $487,964
The provision (benefit) for current and deferred income taxes consists of the following:
For the Year
2010 2009 2008
(In thousands)
Current
Federal .................................................... $ 14,057 $ 9,251 $ 2,230
State ...................................................... 8,686 9,975 (1,790)
Foreign .................................................... 143,090 134,088 121,423
165,833 153,314 121,863
Deferred
Federal .................................................... (10,894) 564 (15,043)
State ...................................................... 10,599 (8,828) 151
Foreign .................................................... (3,576) (13,707) 1,357
(3,871) (21,971) (13,535)
Provision for income taxes ......................................... $161,962 $131,343 $108,328
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