SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report: May 15, 1997
MATTEL, INC.
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(Exact name of registrant as specified in its charter)
Delaware 001-05647 95-1567322
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File No.) Identification No.)
333 Continental Boulevard, El Segundo, California 90245-5012
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (310) 252-2000
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N/A
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(Former name or former address, if changed since last report)
Information to be included in the Report
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Item 5. Other Events
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In conformity with the requirements of Accounting Series
Release No. 135, as interpreted by Staff Accounting Bulletin
No. 65 (Topic 2.E.), attached hereto is a Consolidated
Statement of Operations and Condensed Consolidated Balance
Sheet of Mattel, Inc. and Subsidiaries as of and for the four
months ended April 30, 1997. Such financial statements reflect
the March 27, 1997 merger of Tyco Toys, Inc. with and into
Mattel, Inc., accounted for as a pooling of interests.
MATTEL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF OPERATIONS
FOR THE
FOUR MONTHS ENDED
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APRIL 30,
(In thousands, except per share amounts) 1997 (a)
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Net Sales $ 894,343
Cost of sales 483,427
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Gross Profit 410,916
Advertising and promotion expenses 129,938
Other selling and administrative expenses 251,756
Integration/restructuring costs (b) 275,000
Other expense, net 10,093
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Operating Loss (255,871)
Interest expense 25,235
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Loss Before Income Taxes (281,106)
Benefit for income taxes (67,175)
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Net Loss (213,931)
Less: dividends on convertible preferred stock 3,786
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Net Loss Applicable to Common Shares $ (217,717)
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Net Loss Per Share (c)(d) $ (0.75)
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Average Number of Common Shares Outstanding (d) 289,257
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<FN>
(a) Consolidated results for the period reflect the retroactive effect
of the March 27, 1997 Tyco merger, accounted for as a pooling
of interests.
(b) Represents a nonrecurring charge for transaction, integration and
restructuring costs related to the Tyco merger. The related tax
benefit of $65 million is included in the benefit for income
taxes.
(c) Loss per share for the period, before the $0.72 per share effect of
the merger-related nonrecurring charge of $210 million after taxes,
was $0.03 per share.
(d) Share and per share data for the period presented reflect the
retroactive effect of shares issued pursuant to the Tyco merger.
MATTEL, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEET
April 30,
(In thousands) 1997
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ASSETS
Cash $ 78,859
Accounts receivable, net 968,440
Inventories 565,839
Prepaid expenses and other current assets 198,836
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Total current assets 1,811,974
Property, plant and equipment, net 608,163
Other assets 823,638
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Total Assets $ 3,243,775
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LIABILITIES AND SHAREHOLDERS' EQUITY
Short-term borrowings $ 31,698
Current portion of long-term liabilities 105,355
Accounts payable and accrued liabilities 682,107
Income taxes payable 99,674
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Total current liabilities 918,834
Long-term debt 296,154
Medium-Term notes 300,000
Other long-term liabilities 114,959
Shareholders' equity 1,613,828
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Total Liabilities and Shareholders' Equity $ 3,243,775
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SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
MATTEL, INC.
Registrant
By: /s/ KEVIN M. FARR
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Kevin M. Farr
Date: May 15, 1997 Senior Vice President and
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