Consolidated Balance Sheets - USD ($) $ in Thousands

Current assets:
Cash and cash equivalents
Trade receivables, net
Inventories, net
Prepaid expenses and other
Income taxes receivable
Total current assets
Land, buildings and improvements
Equipment and tooling
Property and equipment, gross
Less: accumulated depreciation
Property and equipment, net
Investment in finance affiliate
Deferred tax assets
Goodwill and other intangible assets, net
Operating Lease, Right-of-Use Asset
Other long-term assets
Total assets
Current liabilities:
Current portion of debt, finance lease obligations, and notes payable
Accounts payable
Accrued expenses:
Compensation
Warranties
Sales promotions and incentives
Dealer holdback
Other
Operating Lease, Liability, Current
Income taxes payable
Total current liabilities
Long-term income taxes payable
Finance lease obligations
Long-term debt
Deferred tax liabilities
Operating Lease, Liability, Noncurrent
Other long-term liabilities
Total liabilities
Deferred compensation
Shareholders’ equity:
Preferred stock $0.01 par value, 20,000 shares authorized, no shares issued and outstanding
Common stock $0.01 par value, 160,000 shares authorized, 61,412 and 60,890 shares issued and
outstanding, respectively
Additional paid-in capital
Retained earnings
Accumulated other comprehensive loss, net
Total shareholders’ equity
Stockholders' Equity Attributable to Noncontrolling Interest
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest
Total liabilities and equity
Dec. 31, 2019 Dec. 31, 2018

$ 157,064 $ 161,164
190,430 197,082
1,121,111 969,511
125,908 121,472
32,447 36,474
1,626,960 1,485,703
502,853 462,224
1,390,541 1,245,312
1,893,394 1,707,536
(993,585) (864,414)
899,809 843,122
110,641 92,059
93,282 87,474
1,490,235 1,517,594
110,153
99,449 98,963
4,430,529 4,124,915

166,695 66,543
450,228 346,294

184,514 167,857
136,184 121,824
189,883 167,621
145,823 125,003
213,892 197,687
34,904
5,867 4,545
1,527,990 1,197,374
28,092 28,602
14,814 16,140
1,512,000 1,879,887
3,952 6,490
77,926
143,955 122,570
3,308,729 3,251,063
13,598 6,837

0 0
614 609

892,849 807,986
287,256 121,114
 (72,720) (62,973)
1,107,999 866,736
203 279
1,108,202 867,015
$ 4,430,529 $ 4,124,915
 Consolidated Balance Sheets (Parenthetical) - $ / shares Dec. 31, 2019 Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, shares authorized 20,000,000 20,000,000
Preferred stock, shares issued 0 0
Preferred stock, shares outstanding 0 0
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized 160,000,000 160,000,000
Common stock, shares issued 61,169,000 60,890,000
Common stock, shares outstanding 61,169,000 60,890,000
 Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
Sales
Cost of sales
Gross profit
Operating expenses:
Selling and marketing
Research and development
General and administrative
Total operating expenses
Operating income
Non-operating expense:
Interest expense
Equity in loss of other affiliates
Other (income) expense, net
Income before income taxes
Provision for income taxes
Net income
Net Income (Loss) Attributable to Noncontrolling Interest
Net income per share attributable to Polaris Inc. common shareholders:
Basic (in dollars per share)
Diluted (in dollars per share)
Weighted average shares outstanding:
Basic (in shares)
Diluted (in shares)
Financial Service
Sales
 12 Months Ended
Dec. 31, 2019 Dec. 31, 2018 Dec. 31, 2017
$ 323,884 $ 335,257 $ 172,492
6,782,518 6,078,540 5,428,477
5,133,736 4,577,340 4,103,826
1,648,782 1,501,200 1,324,651

559,107 491,773 471,805

292,935 259,682 238,299
393,930 349,763 331,196
1,245,972 1,101,218 1,041,300
483,671 487,412 359,657

77,589 56,967 32,155

5,133 29,252 6,760
(6,851) (28,056) 1,951
407,800 429,249 318,791
83,916 93,992 146,299
323,960 335,257 172,492
$ 76 $0 $0

$ 5.27 $ 5.36 $ 2.74

$ 5.20 $ 5.24 $ 2.69

61,437 62,513 62,916

62,292 63,949 64,180

$ 80,861 $ 87,430 $ 76,306

 Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands
Statement of Comprehensive Income [Abstract]
Net income
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments
Unrealized (loss) gain on derivative instruments
Retirement plan and other activity
Comprehensive income
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest

Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest
 12 Months Ended
Dec. 31, 2019 Dec. 31, 2018 Dec. 31, 2017

$ 323,960 $ 335,257 $ 172,492

323,884 335,257 172,492

(2,792) (18,062) 41,691

(6,537) 457 (330)
250 261 (3,153)
314,881 317,913 210,700
314,805 317,913 210,700

$ 76 $0 $0
Consolidated Statements Of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands
Beginning Balance at Dec. 31, 2016
Beginning Balance (in shares) at Dec. 31, 2016
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Employee stock compensation
Deferred compensation
Employee stock compensation (in shares)
Proceeds from stock issuances under employee plans
Proceeds from stock issuances under employee plans (in shares)
Cash dividends declared ($2.32 per share, $2.20 per share and $2.12 per share in 2017, 2016, and
2015 respectively)
Repurchase and retirement of common shares
Repurchase and retirement of common shares (in shares)
Net income
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
Other comprehensive income
Ending Balance at Dec. 31, 2017
Ending Balance (in shares) at Dec. 31, 2017
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Employee stock compensation
Deferred compensation
Employee stock compensation (in shares)
Proceeds from stock issuances under employee plans
Proceeds from stock issuances under employee plans (in shares)
Cash dividends declared ($2.32 per share, $2.20 per share and $2.12 per share in 2017, 2016, and
2015 respectively)
Repurchase and retirement of common shares
Repurchase and retirement of common shares (in shares)
Cumulative effect of adoption of accounting standards (ASU 2018-02)
Net income
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
Other comprehensive income
Ending Balance at Dec. 31, 2018
Ending Balance (in shares) at Dec. 31, 2018
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Employee stock compensation
Deferred compensation
Employee stock compensation (in shares)
Proceeds from stock issuances under employee plans
Proceeds from stock issuances under employee plans (in shares)
Cash dividends declared ($2.32 per share, $2.20 per share and $2.12 per share in 2017, 2016, and
2015 respectively)
Repurchase and retirement of common shares
Repurchase and retirement of common shares (in shares)
Cumulative effect of adoption of accounting standards (ASU 2018-02)
Noncontrolling Interest, Increase from Subsidiary Equity Issuance
Net income
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
Other comprehensive income
Ending Balance at Dec. 31, 2019
Ending Balance (in shares) at Dec. 31, 2019
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest
 Total Common Stock Additional Paid-In Capital Retained Earnings
$ 867,040 $ 631 $ 650,162 $ 300,084
63,109

50,054 $1 50,053
(2,989) (1,536) 4,525
60
42,738 $9 42,729
934
(145,423) 145,423

$ (90,461) $ 10 10,586 79,865

(1,028) 1,028
$ 172,492 172,492
172,492
38,208
931,659 $ 631 733,894 242,763
63,075

63,966 $2 63,964
4,880 (111) (4,769)
245
47,092 $8 47,084
754
(149,032) 149,032

$ (348,663) $ 32 37,066 311,565

(3,184) 3,184
$ 1,079 1 1,078
335,257 335,257
335,257
(17,344)
866,736
60,890
867,015 $ 609 807,986 121,114

74,962 $4 74,958
(6,761) 4,488 2,273
412
15,660 $2 15,658
205
(149,101) 149,101

$ (8,378) $1 1,265 7,112

 (95) 95
$0 668
279
323,960
323,884 323,960
(9,079)
1,107,999
61,412
$ 1,108,202 $ 614 $ 892,849 $ 287,256
Accumulated other Comprehensive Income (Loss) Non Controlling Interest
$ (83,837)

38,208
(45,629)

(17,344)

(62,973) $ 279
 (668)

(76)
(9,079)

$ (72,720) $ 203
 Consolidated Statements Of Shareholders' Equity (Parenthetical) - $ / shares
Statement of Stockholders' Equity [Abstract]
Cash dividends declared, per share
 12 Months Ended
Dec. 31, 2019 Dec. 31, 2018 Dec. 31, 2017

$ 2.44 $ 2.40 $ 2.32

 Consolidated Statements Of Cash Flows - USD ($) $ in Thousands
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
Noncash compensation
Noncash income from financial services
Deferred income taxes
Impairment charges
Other, net
Changes in operating assets and liabilities:
Trade receivables
Inventories
Accounts payable
Accrued expenses
Income taxes payable/receivable
Prepaid expenses and other, net
Net cash provided by operating activities
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchase of property and equipment
Investment in finance affiliate
Distributions from finance affiliate
Investment in other affiliates, net
Acquisition and disposal of businesses, net of cash acquired
Net cash used for investing activities
Net Cash Provided by (Used in) Financing Activities [Abstract]
Borrowings under debt arrangements / finance lease obligations
Repayments under debt arrangements / finance lease obligations
Repurchase and retirement of common shares
Cash dividends to shareholders
Proceeds from stock issuances under employee plans
Net cash (used for) provided by financing activities
Net increase in cash, cash equivalents and restricted cash
Impact of currency exchange rates on cash balances
Supplemental Cash Flow Information [Abstract]
Interest paid on debt borrowings
Income taxes paid
Cash and cash equivalents
Other long-term assets
Total
 12 Months Ended
Dec. 31, 2019 Dec. 31, 2018 Dec. 31, 2017

$ 323,884 $ 335,257 $ 172,492

234,513 211,036 191,108

74,962 63,966 50,054
(32,469) (30,130) (27,027)
(9,484) 23,440 73,614
3,558 24,263 25,395
1,575 (8,489) 3,401

6,812 20,686 (17,064)

(149,872) (149,701) (26,958)
103,766 (984) 39,516
98,965 7,170 94,557
4,860 (4,490) 23,410
(6,034) (14,912) (17,090)
655,036 477,112 585,408

(251,374) (225,414) (184,388)

(16,953) (12,289) (25,230)
30,840 39,125 57,502
0 (1,113) (625)
(1,800) (759,801) 1,645
(239,287) (959,492) (151,096)

3,368,853 3,553,237 2,186,939

(3,638,864) (2,579,495) (2,421,473)
(8,378) (348,663) (90,461)
(149,101) (149,032) (145,423)
15,660 47,371 42,738
(411,830) 523,418 (427,680)
3,160 31,508 16,448
(759) (9,530) 9,816

76,959 51,014 30,884

87,844 73,999 46,308
157,064 161,164 138,345
39,222 31,962 23,273
$ 196,286 $ 193,126 $ 161,618