$PII
Polaris Inc.

2023 Q3 Form 10-Q Financial Statement

#000162828023025571 Filed on July 25, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $2.249B $2.217B
YoY Change -3.92% 7.46%
Cost Of Revenue $1.740B $1.712B
YoY Change -2.32% 7.76%
Gross Profit $508.8M $505.0M
YoY Change -9.01% 6.45%
Gross Profit Margin 22.62% 22.78%
Selling, General & Admin $236.4M $236.4M
YoY Change 8.19% 15.49%
% of Gross Profit 46.46% 46.81%
Research & Development $91.80M $93.20M
YoY Change -6.8% 7.37%
% of Gross Profit 18.04% 18.46%
Depreciation & Amortization $62.00M $58.70M
YoY Change 19.92% 12.24%
% of Gross Profit 12.19% 11.62%
Operating Expenses $328.2M $329.6M
YoY Change 3.53% 13.07%
Operating Profit $201.1M $175.4M
YoY Change -20.92% -9.17%
Interest Expense $32.50M -$10.80M
YoY Change 61.69% -172.48%
% of Operating Profit 16.16% -6.16%
Other Income/Expense, Net $13.10M $8.100M
YoY Change 77.03% 153.13%
Pretax Income $181.7M $172.7M
YoY Change -24.79% -4.8%
Income Tax $30.20M $38.40M
% Of Pretax Income 16.62% 22.24%
Net Earnings $151.7M $134.3M
YoY Change -18.57% -3019.57%
Net Earnings / Revenue 6.75% 6.06%
Basic Earnings Per Share $2.66 $2.35
Diluted Earnings Per Share $2.62 $2.32
COMMON SHARES
Basic Shares Outstanding 56.69M shares 56.91M shares
Diluted Shares Outstanding 57.80M shares 57.80M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $295.3M $340.4M
YoY Change -7.4% 8.34%
Cash & Equivalents $295.3M $340.4M
Short-Term Investments
Other Short-Term Assets $177.3M $210.6M
YoY Change 12.0% -38.53%
Inventory $2.052B $2.024B
Prepaid Expenses
Receivables $477.8M $293.1M
Other Receivables $41.20M $19.80M
Total Short-Term Assets $3.043B $2.888B
YoY Change 7.36% 0.78%
LONG-TERM ASSETS
Property, Plant & Equipment $1.162B $1.239B
YoY Change 21.25% 31.86%
Goodwill $389.4M $387.4M
YoY Change 2.55% 0.49%
Intangibles $517.7M $515.8M
YoY Change -1.93% -3.26%
Long-Term Investments $109.7M $98.70M
YoY Change 87.2% 166.04%
Other Assets $132.7M $340.5M
YoY Change 68.19% 295.01%
Total Long-Term Assets $2.690B $2.581B
YoY Change 19.09% 8.78%
TOTAL ASSETS
Total Short-Term Assets $3.043B $2.888B
Total Long-Term Assets $2.690B $2.581B
Total Assets $5.733B $5.470B
YoY Change 12.56% 4.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $882.4M $897.0M
YoY Change 3.71% -8.36%
Accrued Expenses $967.6M $958.0M
YoY Change 25.19% 41.21%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $553.9M $553.7M
YoY Change 0.07% 0.07%
Total Short-Term Liabilities $2.438B $2.415B
YoY Change 10.2% 3.19%
LONG-TERM LIABILITIES
Long-Term Debt $1.656B $1.508B
YoY Change 4.73% 3.01%
Other Long-Term Liabilities $292.7M $293.3M
YoY Change 77.18% 68.85%
Total Long-Term Liabilities $292.7M $1.801B
YoY Change 77.18% 936.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.438B $2.415B
Total Long-Term Liabilities $292.7M $1.801B
Total Liabilities $4.387B $4.223B
YoY Change 7.99% 1.67%
SHAREHOLDERS EQUITY
Retained Earnings $190.7M $122.1M
YoY Change -1044.06% 3838.71%
Common Stock $600.0K $600.0K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.333B $1.247B
YoY Change
Total Liabilities & Shareholders Equity $5.733B $5.470B
YoY Change 12.56% 4.4%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $151.7M $134.3M
YoY Change -18.57% -3019.57%
Depreciation, Depletion And Amortization $62.00M $58.70M
YoY Change 19.92% 12.24%
Cash From Operating Activities $28.10M $223.7M
YoY Change -83.53% -2931.65%
INVESTING ACTIVITIES
Capital Expenditures $105.5M $111.8M
YoY Change -242.18% -280.32%
Acquisitions
YoY Change
Other Investing Activities -$50.30M $10.80M
YoY Change -310.46% -261.19%
Cash From Investing Activities -$155.8M -$101.0M
YoY Change 209.74% 47.02%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 88.80M -108.6M
YoY Change -179.07% -405.92%
NET CHANGE
Cash From Operating Activities 28.10M 223.7M
Cash From Investing Activities -155.8M -101.0M
Cash From Financing Activities 88.80M -108.6M
Net Change In Cash -38.90M 14.10M
YoY Change -586.25% -134.31%
FREE CASH FLOW
Cash From Operating Activities $28.10M $223.7M
Capital Expenditures $105.5M $111.8M
Free Cash Flow -$77.40M $111.9M
YoY Change -131.62% 106.84%

Facts In Submission

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