SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-Q/A
(AMENDMENT NO. 1)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 1998
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OR
[_] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Commission file number 001-05647
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MATTEL, INC.
------------
(Exact name of registrant as specified in its charter)
Delaware 95-1567322
- ------------------------------------------------------------------------------
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) 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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(Former name, former address and former fiscal year, None
if changed since last report) --------------
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.
Yes [X] No [_]
Number of shares outstanding of registrant's common stock as of May 8, 1998:
Common Stock - $1 par value -- 293,515,239 shares
<PAGE>
The undersigned registrant hereby amends Item 6 of its Quarterly
Report on Form 10-Q for the quarter ended March 31, 1998, as set forth below,
in order to correct Exhibit 12.0 "Computation of Ratio of Earnings (Loss)
to Fixed Charges and Ratio of Earnings (Loss) to Combined Fixed Charges and
Preferred Stock Dividends" for a typographical error. Preferred stock
dividends reported in page 2 of the Exhibit for the three months ended
March 31, 1998 has been changed to $1,990 from the previously reported $1,090.
<PAGE>
PART II -- OTHER INFORMATION
----------------------------
Item 6. Exhibits and Reports on Form 8-K
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(a) Exhibits
--------
12.0 Amended Computation of Ratio of Earnings (Loss) to
Fixed Charges and Ratio of Earnings (Loss) to Combined
Fixed Charges and Preferred Stock Dividends
<PAGE>
SIGNATURES
----------
Pursuant to the requirements of the Securities Exchange Act of 1934 as amended,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
MATTEL, INC.
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(Registrant)
Date: As of May 21, 1998 By: /s/ KEVIN M. FARR
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Kevin M. Farr
Senior Vice President and
Controller
3
<PAGE>
<PAGE>
<TABLE>
MATTEL, INC. AND SUBSIDIARIES EXHIBIT 12.0
(Page 1 of 2)
COMPUTATION OF RATIO OF EARNINGS (LOSS) TO FIXED CHARGES
--------------------------------------------------------
(Amounts in thousands, except ratios)
(Unaudited)
<CAPTION>
FOR THE
THREE MONTHS ENDED FOR THE YEARS ENDED DECEMBER 31, (a)
--------------------- ----------------------------------------------------
MARCH 31, MARCH 31,
1998 1997(a) 1997 1996 1995 1994 1993(b)
--------- --------- ----------------------------------------------------
EARNINGS (LOSS) AVAILABLE FOR FIXED
CHARGES:
<S> <C> <C> <C> <C> <C> <C> <C>
Income (loss) before income taxes,
cumulative effect of changes in
accounting principles and
extraordinary items $ 17,756 $(267,619) $425,082 $536,756 $504,668 $362,157 $153,306
Less (plus) minority interest and
undistributed income (loss) of
less-than-majority-owned affiliates,
net (5) 66 (144) 303 (36) (649) 124
Add:
Interest expense 16,392 19,636 90,130 100,226 102,983 87,071 86,101
Appropriate portion of rents (c) 3,947 4,952 17,665 19,527 19,450 16,224 16,221
--------- --------- -------- -------- -------- -------- --------
Earnings (loss) available for fixed
charges $ 38,090 $(242,965) $532,733 $656,812 $627,065 $464,803 $255,752
========= ========= ======== ======== ======== ======== ========
FIXED CHARGES:
Interest expense $ 16,392 $ 19,636 $ 90,130 $100,226 $102,983 $ 87,071 $ 86,101
Capitalized interest - 218 991 1,789 693 285 -
Appropriate portion of rents (c) 3,947 4,952 17,665 19,527 19,450 16,224 16,221
--------- --------- -------- -------- -------- -------- --------
Fixed charges $ 20,339 $ 24,806 $108,786 $121,542 $123,126 $103,580 $102,322
========= ========= ======== ======== ======== ======== ========
Ratio of earnings (loss) to fixed charges 1.87X (9.79)(d) 4.90X 5.40X 5.09X 4.49X 2.50X
========= ========= ======== ======== ======== ======== ========
<FN>
(a) Consolidated financial information for 1997 through 1993 has been restated for the effects of the March 1997
merger of Tyco Toys, Inc. ("Tyco") into the Company, accounted for as a pooling of interests.
(b) Consolidated financial information for 1993 has been restated for the effects of the November 1993 merger
of Fisher-Price, Inc. into a wholly-owned subsidiary of the Company, accounted for as a pooling of interests.
(c) Portion of rental expenses which is deemed representative of an interest factor, not to exceed one-third of
total rental expense.
(d) As a result of an approximately $275 million restructuring charge to earnings taken in the first quarter of
1997, earnings did not cover fixed charges by $267.8 million for the three month period ended March 31, 1997.
</TABLE>
<PAGE>
<TABLE>
MATTEL, INC. AND SUBSIDIARIES EXHIBIT 12.0
(Page 2 of 2)
COMPUTATION OF RATIO OF EARNINGS (LOSS) TO COMBINED FIXED
CHARGES AND PREFERRED STOCK DIVIDENDS
---------------------------------------------------------
(Amounts in thousands, except ratios)
(Unaudited)
<CAPTION>
FOR THE
THREE MONTHS ENDED FOR THE YEARS ENDED DECEMBER 31, (a)
--------------------- ----------------------------------------------------
MARCH 31, MARCH 31,
1998 1997(a) 1997 1996 1995 1994 1993(b)
--------- --------- ----------------------------------------------------
EARNINGS (LOSS) AVAILABLE FOR FIXED
CHARGES:
<S> <C> <C> <C> <C> <C> <C> <C>
Income (loss) before income taxes,
cumulative effect of changes in
accounting principles and
extraordinary items $ 17,756 $(267,619) $425,082 $536,756 $504,668 $362,157 $153,306
Less (plus) minority interest and
undistributed income (loss) of
less-than-majority-owned affiliates,
net (5) 66 (144) 303 (36) (649) 124
Add:
Interest expense 16,392 19,636 90,130 100,226 102,983 87,071 86,101
Appropriate portion of rents (c) 3,947 4,952 17,665 19,527 19,450 16,224 16,221
--------- --------- -------- -------- -------- -------- --------
Earnings (loss) available for fixed
charges $ 38,090 $(242,965) $532,733 $656,812 $627,065 $464,803 $255,752
========= ========= ======== ======== ======== ======== ========
FIXED CHARGES:
Interest expense $ 16,392 $ 19,636 $ 90,130 $100,226 $102,983 $ 87,071 $ 86,101
Capitalized interest - 218 991 1,789 693 285 -
Dividends - Series B preferred stock - 846 2,537 3,406 3,200 2,157 -
Dividends - Series C preferred stock 1,990 1,994 7,968 3,985 - - -
Dividends - Series F preference stock - - - - 3,342 4,689 4,894
Appropriate portion of rents (c) 3,947 4,952 17,665 19,527 19,450 16,224 16,221
--------- --------- -------- -------- -------- -------- --------
Fixed charges $ 22,329 $ 27,646 $119,291 $128,933 $129,668 $110,426 $107,216
========= ========= ======== ======== ======== ======== ========
Ratio of earnings (loss) to fixed charges 1.71X (8.79)(d) 4.47X 5.09X 4.84X 4.21X 2.39X
========= ========= ======== ======== ======== ======== ========
<FN>
(a) Consolidated financial information for 1997 through 1993 has been restated for the effects of the March 1997
merger of Tyco into the Company, accounted for as a pooling of interests.
(b) Consolidated financial information for 1993 has been restated for the effects of the November 1993 merger
of Fisher-Price, Inc. into a wholly-owned subsidiary of the Company, accounted for as a pooling of interests.
(c) Portion of rental expenses which is deemed representative of an interest factor, not to exceed one-third of
total rental expense.
(d) As a result of an approximately $275 million restructuring charge to earnings taken in the first quarter of
1997, earnings did not cover fixed charges plus preferred stock dividends by $270.6 million for the three
month period ended March 31, 1997.
</TABLE>
