Mattel 2011 Annual Report Download - page 94

Download and view the complete annual report

Please find page 94 of the 2011 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.

Page out of 132

  • 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

Income tax benefits related to RSU compensation expense recognized in the consolidated statements of
operations during 2011, 2010, and 2009 totaled $9.0 million, $10.3 million, and $9.5 million, respectively.
The following table summarizes the number and weighted average grant date fair value of Mattel’s unvested
RSUs during the year:
2011 2010 2009
Shares
Weighted
Average
Grant Date
Fair Value Shares
Weighted
Average
Grant Date
Fair Value Shares
Weighted
Average
Grant Date
Fair Value
(In thousands, except weighted average grant date fair value)
Unvested at January 1 ..................... 4,274 $19.49 4,449 $19.36 3,927 $21.03
Granted ............................ 1,663 26.38 1,643 21.58 2,113 17.41
Vested ............................. (1,740) 19.01 (1,598) 21.45 (1,408) 20.96
Forfeited ........................... (465) 21.53 (220) 18.17 (183) 20.53
Unvested at December 31 .................. 3,732 $22.53 4,274 $19.49 4,449 $19.36
At December 31, 2011, total RSUs expected to vest totaled 3.5 million shares, with a weighted average
grant date fair value of $22.55. The total grant date fair value of RSUs vested during 2011, 2010, and 2009
totaled $33.1 million, $34.3 million, and $29.5 million, respectively.
In addition to the expense and share amounts described above, Mattel recognized compensation expense of
$8.3 million for performance RSUs granted in connection with its January 1, 2011–December 31, 2013 Long-
Term Incentive Program, as more fully described in “Note 6 to the Consolidated Financial Statements—
Employee Benefit Plans.” Mattel recognized compensation expense of $19.6 million and $5.3 million during
2010 and 2009, respectively, for performance RSUs granted in connection with its January 1, 2008–December
31, 2010 Long-Term Incentive Program, also more fully described in “Note 6 to the Consolidated Financial
Statements—Employee Benefit Plans.” Income tax benefits related to performance RSU compensation expense
recognized in the consolidated statements of operations during 2011, 2010, and 2009 totaled $3.1 million, $7.4
million, and $2.0 million, respectively.
Note 10—Earnings Per Share
Unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend
equivalents (whether paid or unpaid) are participating securities and are included in the computation of earnings
per share pursuant to the two-class method. Certain of Mattel’s RSUs are considered participating securities
because they contain nonforfeitable rights to dividend equivalents.
82