Mattel, Inc., designs, manufactures, and markets toy products worldwide. Mattel’s toys include Barbie™ fashion dolls and accessories, Hot Wheels™, and Fisher-Price brands. For a recent year, Mattel reported the following net cash flows from operating activities (in thousands):

First quarter ending March 31                         $ (214,807)
Second quarter ending June 30                            (135,003)
Third quarter ending September 30                         31,003
Fourth quarter December 31                              1,102,915

Explain why Mattel reported negative net cash flows from operating activities during the first two quarters, a small positive net cash flow in the third quarter, and a large positive cash flow for the fourth quarter with overall net positive cash flow for the year.