$PII
Polaris Inc.

2012 Q2 Form 10-Q Financial Statement

#000119312512325013 Filed on July 31, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2011 Q2
Revenue $755.4M $607.9M
YoY Change 24.27% 41.08%
Cost Of Revenue $538.7M $430.3M
YoY Change 25.19% 35.4%
Gross Profit $216.7M $177.6M
YoY Change 22.04% 57.03%
Gross Profit Margin 28.69% 29.21%
Selling, General & Admin $83.31M $80.71M
YoY Change 3.23% 44.38%
% of Gross Profit 38.44% 45.44%
Research & Development $31.22M $25.50M
YoY Change 22.42% 37.83%
% of Gross Profit 14.4% 14.36%
Depreciation & Amortization $15.90M $16.20M
YoY Change -1.85% 3.85%
% of Gross Profit 7.34% 9.12%
Operating Expenses $114.5M $106.2M
YoY Change 7.83% 42.95%
Operating Profit $110.4M $76.92M
YoY Change 43.57% 98.25%
Interest Expense $1.466M $985.0K
YoY Change 48.83% -71.86%
% of Operating Profit 1.33% 1.28%
Other Income/Expense, Net -$210.0K -$1.642M
YoY Change -87.21% -28.61%
Pretax Income $108.8M $74.29M
YoY Change 46.39% 90.01%
Income Tax $38.94M $25.57M
% Of Pretax Income 35.8% 34.41%
Net Earnings $69.82M $48.73M
YoY Change 43.29% 90.35%
Net Earnings / Revenue 9.24% 8.02%
Basic Earnings Per Share $1.01 $0.71
Diluted Earnings Per Share $0.98 $0.68
COMMON SHARES
Basic Shares Outstanding 68.95M shares 68.81M shares
Diluted Shares Outstanding 71.16M shares 71.22M shares

Balance Sheet

Concept 2012 Q2 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $289.3M $262.2M
YoY Change 10.34% 57.67%
Cash & Equivalents $289.3M $262.2M
Short-Term Investments
Other Short-Term Assets $125.5M $98.70M
YoY Change 27.15% 19.93%
Inventory $358.0M $286.1M
Prepaid Expenses
Receivables $134.9M $136.9M
Other Receivables $9.100M $13.40M
Total Short-Term Assets $916.8M $797.3M
YoY Change 14.98% 40.42%
LONG-TERM ASSETS
Property, Plant & Equipment $223.8M $193.1M
YoY Change 15.89% 4.6%
Goodwill $44.12M
YoY Change
Intangibles $32.26M
YoY Change
Long-Term Investments $46.70M $36.50M
YoY Change 27.95% -11.62%
Other Assets $12.70M $3.500M
YoY Change 262.86%
Total Long-Term Assets $359.6M $294.0M
YoY Change 22.31% 15.98%
TOTAL ASSETS
Total Short-Term Assets $916.8M $797.3M
Total Long-Term Assets $359.6M $294.0M
Total Assets $1.276B $1.091B
YoY Change 16.96% 32.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $192.1M $148.2M
YoY Change 29.63% 45.29%
Accrued Expenses $396.0M $381.6M
YoY Change 3.77% 50.12%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.600M $0.00
YoY Change
Total Short-Term Liabilities $592.6M $533.6M
YoY Change 11.06% 47.32%
LONG-TERM LIABILITIES
Long-Term Debt $105.0M $100.0M
YoY Change 5.0% -50.0%
Other Long-Term Liabilities $8.400M $6.200M
YoY Change 35.48% 8.77%
Total Long-Term Liabilities $113.4M $106.2M
YoY Change 6.78% -48.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $592.6M $533.6M
Total Long-Term Liabilities $113.4M $106.2M
Total Liabilities $706.0M $639.8M
YoY Change 10.35% 10.03%
SHAREHOLDERS EQUITY
Retained Earnings $342.2M
YoY Change
Common Stock $684.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $570.3M $451.4M
YoY Change
Total Liabilities & Shareholders Equity $1.276B $1.091B
YoY Change 16.96% 32.87%

Cashflow Statement

Concept 2012 Q2 2011 Q2
OPERATING ACTIVITIES
Net Income $69.82M $48.73M
YoY Change 43.29% 90.35%
Depreciation, Depletion And Amortization $15.90M $16.20M
YoY Change -1.85% 3.85%
Cash From Operating Activities $79.10M $57.00M
YoY Change 38.77% 7.14%
INVESTING ACTIVITIES
Capital Expenditures -$20.60M -$21.60M
YoY Change -4.63% 68.75%
Acquisitions
YoY Change
Other Investing Activities $3.000M -$23.90M
YoY Change -112.55% -456.72%
Cash From Investing Activities -$17.60M -$45.60M
YoY Change -61.4% 635.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -56.10M -95.80M
YoY Change -41.44% 1742.31%
NET CHANGE
Cash From Operating Activities 79.10M 57.00M
Cash From Investing Activities -17.60M -45.60M
Cash From Financing Activities -56.10M -95.80M
Net Change In Cash 5.400M -84.40M
YoY Change -106.4% -301.91%
FREE CASH FLOW
Cash From Operating Activities $79.10M $57.00M
Capital Expenditures -$20.60M -$21.60M
Free Cash Flow $99.70M $78.60M
YoY Change 26.84% 19.09%

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