Mattel 2013 Annual Report Download - page 34

Item 6. Selected Financial Data.
For the Year Ended December 31,
2013 2012 2011 2010 2009
(In thousands, except per share and percentage information)
Operating Results:
Net sales ................................. $6,484,892 $6,420,881 $6,266,037 $5,856,195 $5,430,846
Gross profit ............................... 3,478,883 3,409,197 3,145,826 2,954,973 2,714,697
% of net sales .......................... 53.6% 53.1% 50.2% 50.5% 50.0%
Operating income (a) ........................ 1,168,103 1,021,015 1,041,101 901,902 731,168
% of net sales .......................... 18.0% 15.9% 16.6% 15.4% 13.5%
Income before income taxes .................. 1,099,128 945,045 970,673 846,825 660,047
Provision for income taxes (b) ................ 195,184 168,581 202,165 161,962 131,343
Net income (a) ............................. $ 903,944 $ 776,464 $ 768,508 $ 684,863 $ 528,704
Net Income Per Common Share—Basic (a) .... $ 2.61 $ 2.25 $ 2.20 $ 1.88 $ 1.45
Net Income Per Common Share—Diluted (a) . . $ 2.58 $ 2.22 $ 2.18 $ 1.86 $ 1.45
Dividends Declared Per Common Share ....... $ 1.44 $ 1.24 $ 0.92 $ 0.83 $ 0.75
December 31,
2013 2012 2011 2010 2009
(In thousands)
Financial Position:
Total assets ............................... $6,439,626 $6,526,785 $5,671,638 $5,417,733 $4,780,555
Noncurrent liabilities ........................ 2,140,627 1,743,729 2,022,107 1,438,867 1,188,692
Stockholders’ equity ........................ 3,251,559 3,067,044 2,610,603 2,628,584 2,530,989
(a) In 2012, a 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. This
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 2013 was positively impacted by net tax benefits of $32.2 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 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 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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