Consumer Discretionary › Miscellaneous Transportation Equipment
PII Stock Price Correlated With Polaris Financials
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Income Statement
Cash Flow
Balance Sheet
PII Income Statement
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Revenue, Net:
Cost of Goods & Services Sold:
Gross Profit:
Selling, General & Admin Expense:
Research & Development Expense:
Total Operating Expenses:
Operating Income:
Income Taxes:
Net Income:
PII Cash Flow
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Operating Activities Net Income:
Depreciation, Depletion & Amortization:
Change in Accounts Receiveable:
Net Cash from Operations:
Repurchases/Buybacks Common Stock:
Issuance of Long-term Debt:
Cash Dividends Paid:
Net Cash from Financing Activities:
Property, Plant & Equipment Purchases:
Purchases of Businesses, Net of Cash:
Net Cash from Investing Activities:
Net Change in Cash & Equivalents:
PII Balance Sheet
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Cash and Cash Equivalents:
Short-Term Investments:
Accounts Receivable, Net:
Inventories:
Total Current Assets:
Property, Plant & Equipment, Net:
Total Assets:
Accounts Payable:
Current Portion of Long-Term Debt:
Total Short-Term Liabilities:
Long Term Debt, Non-Current Portion:
Total Long-Term Liabilities:
Total Liabilities:
COMPANY PROFILE
Note 1. Organization and Significant Accounting
Policies
Polaris
Industries Inc. (“Polaris” or the
“Company”), a Minnesota corporation, and its
subsidiaries are engaged in the design, engineering, manufacturing
and marketing of innovative, high-quality, high-performance
Off-Road Vehicles (ORV), Snowmobiles, and On-Road Vehicles,
including motorcycles and Small Vehicles (SV). Polaris products,
together with related parts, garments and accessories are sold
worldwide through a network of dealers, distributors and its
subsidiaries located in the United States, Canada, Switzerland,
France, the United Kingdom, Australia, Norway, Sweden, Germany,
Spain, China, India and Brazil.
Basis of
presentation: The accompanying
consolidated financial statements include the accounts of Polaris
and its wholly-owned subsidiaries. All inter-company transactions
and balances have been eliminated in consolidation. Income from
financial services is reported as a component of operating income
to better reflect income from ongoing operations, of which
financial services has a significant impact.
During the
2011 third quarter, the Board of Directors declared a two-for-one
split of the Company’s outstanding shares of Common Stock. On
September 12, 2011, Polaris shareholders received one
additional share of Common Stock for each share they held of record
at the close of business on September 2, 2011. All amounts,
including shares and per share information, have been adjusted to
give effect to the two-for-one stock split.
The Company
evaluates consolidation of entities under Accounting Standards
Codification (ASC) Topic 810. This Topic requires management
to evaluate whether an entity or interest is a variable interest
entity and whether the company is the primary beneficiary. Polaris
used the guidelines to analyze the Company’s relationships,
including the relationship with Polaris Acceptance, and concluded
that there were no variable interest entities requiring
consolidation by the Company in 2012, 2011 and 2010.
In December
2012, the Company completed an acquisition of Teton Outfitters, LLC
(d/b/a Klim). The purchase price totaled approximately $41,200,000,
of which approximately $11,061,000 was allocated to goodwill,
$19,600,000 to identifiable intangible assets and $10,539,000 to
assumed tangible assets, net of liabilities. Included in the
acquisition of Klim were borrowings under a credit arrangement of
$4,647,000, which was paid and retired by Polaris prior to
December 31, 2012. The Company has included the financial
results of this acquisition in its consolidated results of
operations beginning on the acquisition date in accordance with
ASC 805, Business Combinations;
however, the impact of this acquisition did not have a material
impact on Polaris’ consolidated financial position or results
of operations.
Reclassifications: Certain reclassifications
of previously reported balance sheet amounts have been made to
conform to the current year presentation. The reclassifications had
no impact on the consolidated statements of income, or total assets
and total liabilities in the consolidated balance sheets, as
previously reported.
Fair value
measurements: ASC Topic 820 defines fair
value as the exchange price that would be received for an asset or
paid to transfer a liability (an exit price) in the principal or
most advantageous market for the asset or liability in an orderly
transaction between market participants on the measurement date.
This Topic also establishes a fair value hierarchy which requires
classification based on observable and unobservable inputs when
measuring fair value. There are three levels of inputs that may be
used to measure fair value:
Level 1 — Quoted prices in
active markets for identical assets or liabilities.
Level 2 — Observable inputs
other than Level 1 prices such as quoted prices for similar
assets or liabilities; quoted prices in markets that are not
active; or other inputs that are observable or can be corrobor
Policies
Polaris
Industries Inc. (“Polaris” or the
“Company”), a Minnesota corporation, and its
subsidiaries are engaged in the design, engineering, manufacturing
and marketing of innovative, high-quality, high-performance
Off-Road Vehicles (ORV), Snowmobiles, and On-Road Vehicles,
including motorcycles and Small Vehicles (SV). Polaris products,
together with related parts, garments and accessories are sold
worldwide through a network of dealers, distributors and its
subsidiaries located in the United States, Canada, Switzerland,
France, the United Kingdom, Australia, Norway, Sweden, Germany,
Spain, China, India and Brazil.
Basis of
presentation: The accompanying
consolidated financial statements include the accounts of Polaris
and its wholly-owned subsidiaries. All inter-company transactions
and balances have been eliminated in consolidation. Income from
financial services is reported as a component of operating income
to better reflect income from ongoing operations, of which
financial services has a significant impact.
During the
2011 third quarter, the Board of Directors declared a two-for-one
split of the Company’s outstanding shares of Common Stock. On
September 12, 2011, Polaris shareholders received one
additional share of Common Stock for each share they held of record
at the close of business on September 2, 2011. All amounts,
including shares and per share information, have been adjusted to
give effect to the two-for-one stock split.
The Company
evaluates consolidation of entities under Accounting Standards
Codification (ASC) Topic 810. This Topic requires management
to evaluate whether an entity or interest is a variable interest
entity and whether the company is the primary beneficiary. Polaris
used the guidelines to analyze the Company’s relationships,
including the relationship with Polaris Acceptance, and concluded
that there were no variable interest entities requiring
consolidation by the Company in 2012, 2011 and 2010.
In December
2012, the Company completed an acquisition of Teton Outfitters, LLC
(d/b/a Klim). The purchase price totaled approximately $41,200,000,
of which approximately $11,061,000 was allocated to goodwill,
$19,600,000 to identifiable intangible assets and $10,539,000 to
assumed tangible assets, net of liabilities. Included in the
acquisition of Klim were borrowings under a credit arrangement of
$4,647,000, which was paid and retired by Polaris prior to
December 31, 2012. The Company has included the financial
results of this acquisition in its consolidated results of
operations beginning on the acquisition date in accordance with
ASC 805, Business Combinations;
however, the impact of this acquisition did not have a material
impact on Polaris’ consolidated financial position or results
of operations.
Reclassifications: Certain reclassifications
of previously reported balance sheet amounts have been made to
conform to the current year presentation. The reclassifications had
no impact on the consolidated statements of income, or total assets
and total liabilities in the consolidated balance sheets, as
previously reported.
Fair value
measurements: ASC Topic 820 defines fair
value as the exchange price that would be received for an asset or
paid to transfer a liability (an exit price) in the principal or
most advantageous market for the asset or liability in an orderly
transaction between market participants on the measurement date.
This Topic also establishes a fair value hierarchy which requires
classification based on observable and unobservable inputs when
measuring fair value. There are three levels of inputs that may be
used to measure fair value:
Level 1 — Quoted prices in
active markets for identical assets or liabilities.
Level 2 — Observable inputs
other than Level 1 prices such as quoted prices for similar
assets or liabilities; quoted prices in markets that are not
active; or other inputs that are observable or can be corrobor
Free historical financial statements for Polaris Inc.. See how revenue, income, cash flow, and balance sheet financials have changed over 53 quarters since 2011. Compare with PII stock chart to see long term trends.
Data imported from Polaris Inc. SEC filings. Check original filings before making any investment decision.