v3.26.1
Employee Benefit Plans
 6 Months Ended
Jun. 30, 2026
Retirement Benefits [Abstract]  
Employee Benefit Plans Employee Benefit Plans
Mattel and certain of its subsidiaries have qualified and nonqualified retirement plans covering substantially all employees of these companies, which are more fully described in Part II, Item 8 "Financial Statements and Supplementary Data—Note 4 to the Consolidated Financial Statements–Employee Benefit Plans" in the 2025 Annual Report on Form 10-K.
The components of Mattel's net periodic benefit cost for defined benefit pension plans were as follows:
For the Three Months EndedFor the Six Months Ended
June 30,
2026		June 30,
2025		June 30,
2026		June 30,
2025
(In thousands)
Service cost$897 $842 $1,822 $1,672 
Interest cost4,701 5,110 9,416 10,189 
Expected return on plan assets(3,628)(4,385)(7,258)(8,754)
Amortization of prior service cost49 50 98 99 
Recognized actuarial loss2,120 2,175 4,239 4,340 
Net periodic benefit cost$4,139 $3,792 $8,317 $7,546 
The components of Mattel's net periodic benefit credit for postretirement benefit plans were as follows:
For the Three Months EndedFor the Six Months Ended
June 30,
2026		June 30,
2025		June 30,
2026		June 30,
2025
(In thousands)
Interest cost$26 $36 $53 $72 
Amortization of prior service credit— (499)— (999)
Recognized actuarial gain(78)(73)(155)(146)
Net periodic benefit credit$(52)$(536)$(102)$(1,073)
Mattel's service cost component is recorded within operating income (loss) while other components of net periodic benefit costs for defined benefit pension and postretirement benefit plans are recorded within other non-operating (income) expense, net.
During the six months ended June 30, 2026, Mattel made cash contributions totaling approximately $2 million related to its defined benefit pension and postretirement benefit plans. During the remainder of 2026, Mattel expects to make additional cash contributions of approximately $12 million.
During the second quarter of 2026, Mattel approved the termination of the Cash Balance Plan, a U.S. qualified defined benefit pension plan. Mattel expects to complete the termination in 2027 through lump-sum distributions and the purchase of group annuity contracts, subject to regulatory requirements.