Mattel 2010 Annual Report Download - page 80
Download and view the complete annual report
Please find page 80 of the 2010 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
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
 |
 |
Mattel used a measurement date of December 31, 2010 for its defined benefit pension plans and
postretirement benefit plans. A summary of the changes in benefit obligation and plans assets is as follows:
Defined Benefit
Pension Plans
Postretirement
Benefit Plans
2010 2009 2010 2009
(In thousands)
Change in Benefit Obligation:
Benefit obligation, beginning of year ...................... $513,307 $ 478,703 $ 46,472 $ 50,985
Service cost .......................................... 12,441 11,153 76 82
Interest cost .......................................... 27,934 26,606 1,820 2,263
Participant contributions ................................ 31 47 — —
Plan amendments ...................................... — 394 — —
Impact of currency exchange rate changes .................. (3,518) 7,561 — —
Actuarial loss (gain) .................................... 20,797 13,792 (9,460) (3,364)
Benefits paid ......................................... (25,065) (24,949) (3,827) (3,494)
Benefit obligation, end of year ........................... $545,927 $ 513,307 $ 35,081 $ 46,472
Change in Plan Assets:
Plan assets at fair value, beginning of year .................. $296,828 $ 233,939 $ — $ —
Actual return on plan assets .............................. 31,831 52,701 — —
Employer contributions ................................. 15,162 30,388 3,827 3,494
Participant contributions ................................ 31 47 — —
Impact of currency exchange rate changes .................. (1,992) 4,702 — —
Benefits paid ......................................... (25,065) (24,949) (3,827) (3,494)
Plan assets at fair value, end of year ....................... $316,795 $ 296,828 $ — $ —
Net Amount Recognized in Consolidated Balance Sheets:
Funded status, end of year ............................... $(229,132) $(216,479) $(35,081) $(46,472)
Current accrued benefit liability .......................... (4,418) (4,517) (2,600) (3,200)
Noncurrent accrued benefit liability ....................... (224,714) (211,962) (32,481) (43,272)
Total accrued benefit liability ............................ $(229,132) $(216,479) $(35,081) $(46,472)
Amounts recognized in Accumulated Other Comprehensive
Loss (a):
Net actuarial loss ...................................... $211,004 $ 210,522 $ 143 $ 9,645
Prior service cost ...................................... 1,912 5,040 — —
$ 212,916 $ 215,562 $ 143 $ 9,645
(a) Amounts exclude related tax benefits of $78.8 million and $83.2 million for December 31, 2010 and 2009,
respectively, which are also included in accumulated other comprehensive loss.
The accumulated benefit obligation differs from the projected benefit obligation in that it assumes future
compensation levels will remain unchanged. Mattel’s accumulated benefit obligation for its defined benefit
pension plans as of December 31, 2010 and 2009 totaled $510.0 million and $476.1 million, respectively. Mattel
does not have any defined benefit pension plans for which the plan assets exceed the accumulated benefit
obligation.
72