EXHIBIT 99.0
MATTEL, INC. AND SUBSIDIARIES
FINANCIAL HIGHLIGHTS
CONTINUING OPERATIONS - PRO FORMA BEFORE CHARGES AND AMORTIZATION OF GOODWILL
1999
---------------------------------------------
(In millions, except per share amts) 1 Qtr 2 Qtr 3 Qtr 4 Qtr
- ------------------------------------ -------- --------- --------- ---------
Key P&L Data:
------------
Net Sales $ 676.0 $ 791.5 $ 1,557.4 $ 1,477.8
Gross Margin $ 300.1 $ 343.4 $ 744.5 $ 679.2
% of Net Sales 44.4% 43.4% 47.8% 46.0%
Advertising $ 75.9 $ 80.6 $ 185.3 $ 227.9
% of Net Sales 11.2% 10.2% 11.9% 15.4%
SG&A $ 201.5 $ 198.5 $ 204.7 $ 263.2
% of Net Sales 29.8% 25.1% 13.1% 17.8%
Operating Income $ 19.2 $ 62.0 $ 354.6 $ 193.9
% of Net Sales 2.9% 7.8% 22.8% 13.1%
Net Inc/(Loss) Before Charges $ (4.1) $ 25.0 $ 232.0 $ 109.8
% of Net Sales -0.6% 3.2% 14.9% 7.4%
EPS Before Charges - Diluted $ (0.02) $ 0.06 $ 0.54 $ 0.26
Avg. Number of Common Shares - Diluted 396.5 409.0 429.5 426.5
Key Balance Sheet Data:
-----------------------
Accounts Receivable, Net $ 855.9 $ 1,064.1 $ 1,684.1 $ 1,002.0
Days of Sales Outstanding (DSO) 98 113 90 56
Inventories $ 562.0 $ 615.2 $ 640.9 $ 436.3
Days of Supply (DOS) 104 69 73 101
Total Debt Outstanding $1,276.3 $ 1,675.3 $ 1,961.8 $ 1,355.6
Total Debt-to-Total Capitalization 37.5% 46.8% 49.5% 40.9%
Worldwide Gross Sales:
----------------------
Girls $ 314.6 $ 348.6 $ 683.5 $ 677.6
% As Reported
% Local Currency
Boys/Entertainment $ 176.6 $ 193.1 $ 415.0 $ 415.5
% As Reported
% Local Currency
Infant & Preschool $ 236.5 $ 304.4 $ 570.7 $ 522.2
% As Reported
% Local Currency
Total Company $ 737.5 $ 854.9 $ 1,686.2 $ 1,618.0
% As Reported
% Local Currency
2000
---------------------------------------------
(In millions, except per share amts) 1 Qtr 2 Qtr 3 Qtr 4 Qtr
- ------------------------------------ -------- --------- --------- ---------
Key P&L Data:
-------------
Net Sales $ 679.6 $ 803.0 $1,549.6 $ 1,533.3
Gross Margin $ 299.9 $ 348.3 $ 703.7 $ 719.9
% of Net Sales 44.1% 43.4% 45.4% 47.0%
Advertising $ 76.8 $ 83.0 $ 186.5 $ 227.2
% of Net Sales 11.3% 10.3% 12.0% 14.8%
SG&A $ 201.1 $ 218.7 $ 222.6 $ 265.6
% of Net Sales 29.6% 27.3% 14.4% 17.3%
Operating Income $ 27.1 $ 54.3 $ 294.8 $ 228.4
% of Net Sales 4.0% 6.8% 19.0% 14.9%
Net Inc/(Loss) Before Charges $ 2.0 $ 13.4 $ 183.4 $ 129.7
% of Net Sales 0.3% 1.7% 11.8% 8.5%
EPS Before Charges - Diluted $ 0.01 $ 0.03 $ 0.43 $ 0.30
Avg. Number of Common Shares - Diluted 425.5 427.8 426.9 428.5
Key Balance Sheet Data:
-----------------------
Accounts Receivable, Net $ 897.2 $ 1,057.4 $1,456.3 $ 839.6
Days of Sales Outstanding (DSO) 99 113 78 45
Inventories $ 522.3 $ 633.5 $ 655.7 $ 489.7
Days of Supply (DOS) 97 74 73 106
Total Debt Outstanding $ 1,834.2 $ 2,105.4 $2,013.2 $ 1,501.5
Total Debt-to-Total Capitalization 51.3% 55.4% 60.6% 51.7%
Worldwide Gross Sales:
----------------------
Girls $ 317.0 $ 355.7 $ 702.6 $ 754.9
% As Reported 1% 2% 3% 11%
% Local Currency 3% 5% 6% 15%
Boys/Entertainment $ 180.1 $ 202.1 $ 404.3 $ 409.2
% As Reported 2% 5% -3% -2%
% Local Currency 3% 4% 0% 3%
Infant & Preschool $ 243.0 $ 306.1 $ 562.0 $ 525.3
% As Reported 3% 1% -2% 1%
% Local Currency 4% 2% 0% 5%
Total Company $ 740.0 $ 870.7 $1,677.7 $ 1,693.3
% As Reported 0% 2% -1% 5%
% Local Currency 2% 4% 2% 8%
2001
---------------------------------------------
(In millions, except per share amts) 1 Qtr 2 Qtr 3 Qtr 4 Qtr
- ------------------------------------ -------- --------- --------- ---------
Key P&L Data:
-------------
Net Sales $ 715.2 $ 836.2 $ 1,575.3 $ 1,561.2
Gross Margin $ 316.6 $ 367.6 $ 745.5 $ 747.4
% of Net Sales 44.3% 44.0% 47.3% 47.9%
Advertising $ 79.4 $ 84.9 $ 174.9 $ 204.0
% of Net Sales 11.1% 10.2% 11.1% 13.1%
SG&A $ 205.2 $ 214.3 $ 230.3 284.8
% of Net Sales 28.7% 25.6% 14.6% 18.2%
Operating Income $ 29.7 $ 65.1 $ 337.8 $ 254.3
% of Net Sales 4.2% 7.8% 21.4% 16.3%
Net Inc/(Loss) Before Charges $ (3.8) $ 18.5 $ 216.7 $ 154.9
% of Net Sales -0.5% 2.2% 13.8% 9.9%
EPS Before Charges - Diluted $ (0.01) $ 0.04 $ 0.50 $ 0.35
Avg. Number of Common Shares - Diluted 429.9 430.9 436.3 437.5
Key Balance Sheet Data:
-----------------------
Accounts Receivable, Net $ 890.8 $ 947.8 $ 1,591.4 $ 696.6
Days of Sales Outstanding (DSO) 96 94 84 37
Inventories $ 574.0 $ 692.8 $ 739.7 $ 487.5
Days of Supply (DOS) 98 73 77 107
Total Debt Outstanding $ 1,777.9 $ 1,873.8 $ 2,001.2 $ 1,269.1
Total Debt-to-Total Capitalization 55.9% 57.1% 55.4% 42.2%
Worldwide Gross Sales:
----------------------
Girls $ 338.0 $ 379.5 $ 710.4 $ 765.3
% As Reported 7% 7% 1% 1%
% Local Currency 9% 8% 2% 1%
Boys/Entertainment $ 195.5 $ 219.8 $ 423.2 $ 430.6
% As Reported 9% 9% 5% 5%
% Local Currency 11% 10% 6% 5%
Infant & Preschool $ 243.1 $ 316.8 $ 578.8 $ 482.6
% As Reported 0% 4% 3% -8%
% Local Currency 2% 5% 3% -9%
Total Company $ 780.4 $ 919.5 $1,713.4 $ 1,690.8
% As Reported 6% 6% 2% 0%
% Local Currency 7% 7% 3% 0%
MATTEL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
BEFORE CHARGES AND AMORTIZATION OF GOODWILL
1 9 9 9
----------------------------------------------------------------------------
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
--------------- --------------- ----------------- -----------------
% Net % Net % Net % Net
(In millions, except per share amounts) $ Amt Sales $ Amt Sales $ Amt Sales $ Amt Sales
- --------------------------------------- ------ ----- ------ ----- -------- ----- -------- -----
Net Sales $676.0 $791.5 $1,557.4 $1,477.8
Cost of sales 375.9 55.6% 448.1 56.6% 812.9 52.2% 798.6 54.0%
------ ------ -------- --------
Gross Profit 300.1 44.4% 343.4 43.4% 744.5 47.8% 679.2 46.0%
Advertising and promotion expenses 75.9 11.2% 80.6 10.2% 185.3 11.9% 227.9 15.4%
Other selling and administrative expenses 201.5 29.8% 198.5 25.1% 204.7 13.1% 263.2 17.8%
Other expense (income), net 2.2 0.3% 1.0 0.1% (1.4) -0.1% (7.1) -0.4%
------ ------ -------- --------
Operating Income Before Amortization 20.5 3.1% 63.3 8.0% 355.9 22.9% 195.2 13.2%
Amortization of other intangibles 1.3 0.2% 1.3 0.2% 1.3 0.1% 1.3 0.1%
------ ------ -------- --------
Operating Income 19.2 2.9% 62.0 7.8% 354.6 22.8% 193.9 13.1%
Interest expense 24.9 3.7% 27.6 3.5% 36.0 2.3% 43.1 2.9%
------ ------ -------- --------
Income Before Income Taxes (5.7) -0.8% 34.4 4.3% 318.6 20.5% 150.8 10.2%
Provision for income taxes (1.6) 9.4 86.6 41.0
------ ------ -------- --------
Income From Continuing Operations $ (4.1) -0.6% $ 25.0 3.2% $ 232.0 14.9% $ 109.8 7.4%
====== ====== ======== ========
Effective Tax Rate 27.2% 27.2% 27.2% 27.2%
Basic Income per Share from Continuing Operations $(0.02) $ 0.06 $ 0.55 $ 0.26
Avg. Number of Common Shares Outstanding - Basic 396.5 409.0 425.1 425.7
Diluted Income per Share from Continuing Operations $(0.02) $ 0.06 $ 0.54 $ 0.26
Avg. Number of Common Shares Outstanding - Diluted 396.5 409.0 429.5 426.5
2 0 0 0
----------------------------------------------------------------------------
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
--------------- --------------- ----------------- -----------------
% Net % Net % Net % Net
(In millions, except per share amounts) $ Amt Sales $ Amt Sales $ Amt Sales $ Amt Sales
- --------------------------------------- ------ ----- ------ ----- -------- ----- -------- -----
Net Sales $679.6 $803.0 $1,549.6 $1,533.3
Cost of sales 379.7 55.9% 454.7 56.6% 845.9 54.6% 813.4 53.0%
------ ------ -------- --------
Gross Profit 299.9 44.1% 348.3 43.4% 703.7 45.4% 719.9 47.0%
Advertising and promotion expenses 76.8 11.3% 83.0 10.3% 186.5 12.0% 227.2 14.8%
Other selling and administrative expenses 201.1 29.6% 218.7 27.3% 222.6 14.4% 265.6 17.3%
Other expense (income), net (6.4) -1.0% (9.0) -1.1% (1.4) -0.1% (2.5) -0.1%
------ ------ -------- --------
Operating Income Before Amortization 28.4 4.2% 55.6 6.9% 296.0 19.1% 229.6 15.0%
Amortization of other intangibles 1.3 0.2% 1.3 0.1% 1.2 0.1% 1.2 0.1%
------ ------ -------- --------
Operating Income 27.1 4.0% 54.3 6.8% 294.8 19.0% 228.4 14.9%
Interest expense 24.4 3.6% 35.9 4.5% 42.6 2.7% 50.1 3.3%
------ ------ -------- --------
Income Before Income Taxes 2.7 0.4% 18.4 2.3% 252.2 16.3% 178.3 11.6%
Provision for income taxes 0.7 5.0 68.8 48.6
------ ------ -------- --------
Income From Continuing Operations $ 2.0 0.3% $ 13.4 1.7% $ 183.4 11.8% $ 129.7 8.5%
====== ====== ======== ========
Effective Tax Rate 27.3% 27.3% 27.3% 27.3%
Basic Income per Share from Continuing Operations $ 0.01 $ 0.03 $ 0.43 $ 0.30
Avg. Number of Common Shares Outstanding - Basic 425.5 425.8 426.4 426.9
Diluted Income per Share from Continuing Operations $ 0.01 $ 0.03 $ 0.43 $ 0.30
Avg. Number of Common Shares Outstanding - Diluted 425.5 427.8 426.9 428.5
2 0 0 1
----------------------------------------------------------------------------
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
--------------- --------------- ----------------- -----------------
% Net % Net % Net % Net
(In millions, except per share amounts) $ Amt Sales $ Amt Sales $ Amt Sales $ Amt Sales
- --------------------------------------- ------ ----- ------ ----- -------- ----- -------- -----
Net Sales $715.2 $836.2 $1,575.3 $1,561.2
Cost of sales 398.6 55.7% 468.6 56.0% 829.8 52.7% 813.8 52.1%
------ ------ -------- --------
Gross Profit 316.6 44.3% 367.6 44.0% 745.5 47.3% 747.4 47.9%
Advertising and promotion expenses 79.4 11.1% 84.9 10.2% 174.9 11.1% 204.0 13.1%
Other selling and administrative expenses 205.2 28.7% 214.3 25.6% 230.3 14.6% 284.8 18.2%
Other expense (income), net 1.0 0.1% 2.1 0.3% 1.3 0.1% 3.0 0.2%
------ ------ -------- --------
Operating Income Before Amortization 31.0 4.4% 66.3 7.9% 339.0 21.5% 255.6 16.4%
Amortization of other intangibles 1.3 0.2% 1.2 0.1% 1.2 0.1% 1.3 0.1%
------ ------ -------- --------
Operating Income 29.7 4.2% 65.1 7.8% 337.8 21.4% 254.3 16.3%
Interest expense 34.9 4.9% 39.6 4.7% 39.5 2.5% 41.1 2.6%
------ ------ -------- --------
Income Before Income Taxes (5.2) -0.7% 25.5 3.1% 298.3 18.9% 213.2 13.7%
Provision for income taxes (1.4) 7.0 81.6 58.3
------ ------ -------- --------
Income From Continuing Operations $ (3.8) -0.5% $ 18.5 2.2% $ 216.7 13.8% $ 154.9 9.9%
====== ====== ======== ========
Effective Tax Rate 27.4% 27.4% 27.4% 27.4%
Basic Income per Share from Continuing Operations $(0.01) $ 0.04 $ 0.50 $ 0.36
Avg. Number of Common Shares Outstanding - Basic 429.9 430.9 431.2 431.8
Diluted Income per Share from Continuing Operations $(0.01) $ 0.04 $ 0.50 $ 0.35
Avg. Number of Common Shares Outstanding - Diluted 429.9 430.9 436.3 437.5
================================================================================
CONDENSED CONSOLIDATED BALANCE SHEETS
1 9 9 9
------------------------------------------------
(In millions) At 3/31 At 6/30 At 9/30 At 12/31
- ------------- -------- -------- -------- --------
ASSETS
Cash and short-term investments $ 50.2 $ 53.9 $ 61.2 $ 247.4
Accounts receivable, net 855.9 1,064.1 1,684.1 1,002.0
Inventories 562.0 615.2 640.9 436.3
Prepaid expenses and other current assets 290.2 240.6 258.5 166.2
-------- -------- -------- --------
Total current assets 1,758.3 1,973.8 2,644.7 1,851.9
Property, plant and equipment, net 733.5 710.5 702.9 724.8
Other assets 1,454.9 1,453.3 1,455.2 1,635.3
Net investment in discontinued operations 401.1 509.3 504.1 462.0
-------- -------- -------- --------
Total Assets $4,347.8 $4,646.9 $5,306.9 $4,674.0
======== ======== ======== ========
LIABILITIES AND STOCKHOLDERS' EQUITY
Short-term borrowings $ 259.5 $ 658.7 $ 945.5 $ 369.5
Current portion of long-term liabilities 33.4 133.4 133.3 3.2
Accounts payable and accrued liabilities 620.0 819.0 1,049.4 1,007.9
Income taxes payable 175.5 90.7 131.6 184.8
-------- -------- -------- --------
Total current liabilities 1,088.4 1,701.8 2,259.8 1,565.4
Long-term debt 983.4 883.2 883.0 982.9
Other long-term liabilities 148.9 158.3 158.9 163.0
Stockholders' equity 2,127.1 1,903.6 2,005.2 1,962.7
-------- -------- -------- --------
Total Liabilities and Stockholders' Equity $4,347.8 $4,646.9 $5,306.9 $4,674.0
======== ======== ======== ========
2 0 0 0
------------------------------------------------
(In millions) At 3/31 At 6/30 At 9/30 At 12/31
- ------------- -------- -------- -------- --------
ASSETS
Cash and short-term investments $ 214.9 $ 129.7 $ 95.8 $ 232.4
Accounts receivable, net 897.2 1,057.4 1,456.3 839.6
Inventories 522.3 633.5 655.7 489.7
Prepaid expenses and other current assets 196.8 206.7 250.4 189.8
-------- -------- -------- --------
Total current assets 1,831.2 2,027.3 2,458.2 1,751.5
Property, plant and equipment, net 693.7 678.6 662.2 647.8
Other assets 1,728.9 1,716.2 1,698.5 1,902.6
Net investment in discontinued operations 318.7 378.6 25.0 11.5
-------- -------- -------- --------
Total Assets $4,572.5 $4,800.7 $4,843.9 $4,313.4
======== ======== ======== ========
LIABILITIES AND STOCKHOLDERS' EQUITY
Short-term borrowings $ 848.7 $1,220.2 $ 737.5 $ 226.4
Current portion of long-term liabilities 2.8 2.7 2.6 32.7
Accounts payable and accrued liabilities 656.8 653.4 1,307.6 1,042.4
Income taxes payable 164.5 163.4 47.8 200.9
-------- -------- -------- --------
Total current liabilities 1,672.8 2,039.7 2,095.5 1,502.4
Long-term debt 982.7 882.5 1,273.1 1,242.4
Other long-term liabilities 172.5 182.7 167.2 165.5
Stockholders' equity 1,744.5 1,695.8 1,308.1 1,403.1
-------- -------- -------- --------
Total Liabilities and Stockholders' Equity $4,572.5 $4,800.7 $4,843.9 $4,313.4
======== ======== ======== ========
2 0 0 1
------------------------------------------------
(In millions) At 3/31 At 6/30 At 9/30 At 12/31
- ------------- -------- -------- -------- --------
ASSETS
Cash and short-term investments $ 74.3 $ 40.7 $ 65.7 $ 616.6
Accounts receivable, net 890.8 947.8 1,591.4 696.6
Inventories 574.0 692.8 739.7 487.5
Prepaid expenses and other current assets 188.9 182.0 181.5 291.9
-------- -------- -------- --------
Total current assets 1,728.0 1,863.3 2,578.3 2,092.6
Property, plant and equipment, net 623.6 618.4 613.8 626.7
Other assets 1,879.9 1,914.5 1,859.1 1,821.3
Net investment in discontinued operations 0.0 0.0 0.0 0.0
-------- -------- -------- --------
Total Assets $4,231.5 $4,396.2 $5,051.2 $4,540.6
======== ======== ======== ========
LIABILITIES AND STOCKHOLDERS' EQUITY
Short-term borrowings $ 518.5 $ 620.1 $ 735.1 $ 38.1
Current portion of long-term liabilities 32.6 62.6 244.9 210.1
Accounts payable and accrued liabilities 692.8 743.7 1,071.5 1,109.0
Income taxes payable 176.1 182.5 197.0 239.8
-------- -------- -------- --------
Total current liabilities 1,420.0 1,608.9 2,248.5 1,597.0
Long-term debt 1,226.8 1,191.1 1,021.1 1,020.9
Other long-term liabilities 179.4 189.3 171.4 184.2
Stockholders' equity 1,405.3 1,406.9 1,610.2 1,738.5
-------- -------- -------- --------
Total Liabilities and Stockholders' Equity $4,231.5 $4,396.2 $5,051.2 $4,540.6
======== ======== ======== ========