Mattel 2011 Annual Report Download - page 91

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Common Stock Repurchase Program
During 2011, Mattel repurchased 20.4 million shares of its common stock at a cost of $536.3 million.
During 2010, Mattel repurchased 18.6 million shares of its common stock at a cost of $446.7 million. During
2009, Mattel did not repurchase any shares of its common stock. During both 2011 and 2010, the Board of
Directors authorized Mattel to increase its share repurchase program by $500.0 million. At December 31, 2011,
share repurchase authorizations of $427.3 million had not been executed. Repurchases will take place from time
to time, depending on market conditions. Mattel’s share repurchase program has no expiration date.
Dividends
During 2011, 2010, and 2009, Mattel paid total dividends per share of $0.92, $0.83, and $0.75, respectively,
to holders of its common stock. During 2011, the Board of Directors declared the dividends on a quarterly basis,
and Mattel paid the dividends during the quarter in which the dividends were declared. During 2010 and 2009,
the Board of Directors declared the dividends annually in November of the respective years, and Mattel paid the
dividends in December of the respective years. The payment of dividends on common stock is at the discretion of
the Board of Directors and is subject to customary limitations.
Comprehensive Income
The changes in the components of comprehensive income, net of tax, are as follows:
For the Year
2011 2010 2009
(In thousands)
Net income ..................................................... $768,508 $684,863 $528,704
Currency translation adjustments .................................... (77,105) 883 52,210
Defined benefit pension plans, net prior service cost and net actuarial loss . . . (38,084) 7,703 18,696
Net unrealized gains (losses) on derivative instruments:
Unrealized holding gains (losses) ............................... 17,900 8,725 (29,602)
Reclassification adjustment for realized losses included in net income . . 9,843 3,024 9,797
27,743 11,749 (19,805)
$681,062 $705,198 $579,805
For 2011, currency translation adjustments resulted in a net loss of $77.1 million, with losses from the
weakening of the Euro, Mexican peso, Brazilian real, and British pound sterling against the US dollar. For 2010,
currency translation adjustments resulted in a net gain of $0.9 million, with gains from the strengthening of the
Mexican peso, Brazilian real, and Chilean peso against the US dollar, partially offset by the weakening of the
Euro and British pound sterling against the US dollar. For 2009, currency translation adjustments resulted in a
net gain of $52.2 million, with gains from the strengthening of the Brazilian real, Euro, Chilean peso, and British
pound sterling against the US dollar.
The components of accumulated other comprehensive loss are as follows:
December 31,
2011 2010
(In thousands)
Currency translation adjustments ............................................ $(298,863) $(221,758)
Defined benefit pension and other postretirement plans, net of tax .................. (172,398) (134,314)
Net unrealized gains (losses) on derivative instruments, net of tax .................. 24,616 (3,127)
$(446,645) $(359,199)
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