Mattel 2013 Annual Report Download - page 110

Note 14—Quarterly Financial Information (Unaudited)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
(In thousands, except per share amounts)
Year Ended December 31, 2013:
Net sales ......................................... $995,606 $1,169,109 $2,206,961 $2,113,216
Gross profit ....................................... 540,051 600,008 1,187,980 1,150,844
Advertising and promotion expenses ................... 104,540 113,403 249,386 282,876
Other selling and administrative expenses ............... 369,680 391,815 410,419 388,661
Operating income .................................. 65,831 94,790 528,175 479,307
Income before income taxes .......................... 44,165 78,729 514,343 461,891
Net income (a) .................................... 38,511 73,348 422,836 369,249
Net income per common share—basic ................. $ 0.11 $ 0.21 $ 1.22 $ 1.08
Weighted average number of common shares ............ 344,315 346,614 343,279 339,402
Net income per common share—diluted ................ $ 0.11 $ 0.21 $ 1.21 $ 1.07
Weighted average number of common and potential
common shares .................................. 348,795 350,424 346,695 343,237
Dividends declared per common share ................. $ 0.36 $ 0.36 $ 0.36 $ 0.36
Common stock market price:
High ........................................ $ 43.77 $ 46.79 $ 47.08 $ 47.82
Low......................................... 35.70 42.64 40.39 40.39
Year Ended December 31, 2012:
Net sales ......................................... $928,449 $1,158,711 $2,077,816 $2,255,905
Gross profit ....................................... 473,371 594,522 1,115,371 1,225,933
Advertising and promotion expenses ................... 97,859 112,395 234,793 272,756
Other selling and administrative expenses (b) ............ 346,776 350,694 393,211 579,698
Operating income (b) ............................... 28,736 131,433 487,367 373,479
Income before income taxes .......................... 10,168 111,361 466,847 356,669
Net income (a) .................................... 7,829 96,218 365,937 306,480
Net income per common share—basic ................. $ 0.02 $ 0.28 $ 1.06 $ 0.88
Weighted average number of common shares ............ 339,144 341,256 342,595 343,624
Net income per common share—diluted ................ $ 0.02 $ 0.28 $ 1.04 $ 0.87
Weighted average number of common and potential
common shares .................................. 343,660 345,554 347,122 348,351
Dividends declared per common share ................. $ 0.31 $ 0.31 $ 0.31 $ 0.31
Common stock market price:
High ........................................ $ 34.39 $ 34.30 $ 36.17 $ 37.79
Low......................................... 27.76 30.56 31.04 35.11
(a) Net income for the first quarter of 2013 included $4.0 million of net tax benefits primarily related to enacted
tax law changes. Net income for the second and third quarter of 2013 included net tax benefits of $11.2 million
and $17.0 million, respectively, primarily related to reassessments of prior years’ tax liabilities based on the
status of audits and tax filings in various jurisdictions, settlements, and enacted tax law changes. Net income
for the second and third quarter of 2012 included net tax benefits of $10.5 million and $5.5 million,
respectively, primarily related to reassessments of prior years’ tax liabilities based on the status of audits and
tax filings in various jurisdictions, settlements, and enacted tax law changes. Net income for the fourth quarter
of 2012 included the impact of the Litigation Charge, net of tax, of $87.1 million.
(b) Other selling and administrative expenses and operating income for the fourth quarter of 2012 included the
impact of the Litigation Charge of $137.8 million.
Note 15—Subsequent Event
On January 31, 2014, Mattel announced that its Board of Directors declared a first quarter dividend of $0.38 per
common share. The dividend is payable on March 7, 2014 to stockholders of record on February 20, 2014.
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