Mattel 2012 Annual Report Download - page 38

Item 6. Selected Financial Data.
For the Year Ended December 31,
2012 2011 2010 2009 2008
(In thousands, except per share and percentage information)
Operating Results:
Net sales ................................. $6,420,881 $6,266,037 $5,856,195 $5,430,846 $5,918,002
Gross profit ............................... 3,409,197 3,145,826 2,954,973 2,714,697 2,684,406
% of net sales .......................... 53.1% 50.2% 50.5% 50.0% 45.4%
Operating income (a) ........................ 1,021,015 1,041,101 901,902 731,168 541,792
% of net sales .......................... 15.9% 16.6% 15.4% 13.5% 9.2%
Income before income taxes .................. 945,045 970,673 846,825 660,047 487,964
Provision for income taxes (b) ................ 168,581 202,165 161,962 131,343 108,328
Net income (a) ............................. $ 776,464 $ 768,508 $ 684,863 $ 528,704 $ 379,636
Net Income Per Common Share—Basic (a) .... $ 2.25 $ 2.20 $ 1.88 $ 1.45 $ 1.04
Net Income Per Common Share—Diluted (a) . . $ 2.22 $ 2.18 $ 1.86 $ 1.45 $ 1.04
Dividends Declared Per Common Share ....... $ 1.24 $ 0.92 $ 0.83 $ 0.75 $ 0.75
December 31,
2012 2011 2010 2009 2008
(In thousands)
Financial Position:
Total assets ............................... $6,526,785 $5,671,638 $5,417,733 $4,780,555 $4,675,039
Noncurrent liabilities ........................ 1,743,729 2,022,107 1,438,867 1,188,692 1,297,930
Stockholders’ equity ........................ 3,067,044 2,610,603 2,628,584 2,530,989 2,117,135
(a) In 2012, a litigation charge arising from the litigation between Mattel and MGA Entertainment, Inc.
resulted in reductions to operating income and net income of $137.8 million and $87.1 million, respectively.
The litigation charge also negatively impacted both basic and diluted net income per common share by
$0.25 per share.
(b) The provision for income taxes in 2012 was positively impacted by net tax benefits of $16.0 million,
primarily related to reassessments of prior years’ tax liabilities based on the status of current audits and tax
filings in various jurisdictions around the world, settlements, and enacted tax law changes. The provision
for income taxes in 2011 was positively impacted by net tax benefits of $6.8 million, primarily related to
reassessments of prior years’ tax liabilities based on the status of audits and tax filings in various
jurisdictions around the world, settlements, and enacted tax law changes. The provision for income taxes in
2010 was positively impacted by net tax benefits of $16.8 million, primarily related to the release of a
valuation allowance related to the anticipated utilization of excess foreign tax credit carryforwards,
reassessments of prior years’ tax liabilities based on the status of audits and tax filings in various
jurisdictions around the world, settlements, and enacted tax law changes, partially offset by the incremental
tax cost to repatriate earnings from certain foreign subsidiaries for which income taxes had not been
previously provided. 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 liabilities based on the status of audits in various
jurisdictions around the world, settlements, and enacted tax law changes.
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