$PII
Polaris Inc.

2023 Q4 Form 10-Q Financial Statement

#000162828023034992 Filed on October 24, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $2.289B $2.249B
YoY Change -4.78% -3.92%
Cost Of Revenue $1.812B $1.740B
YoY Change -0.99% -2.32%
Gross Profit $476.9M $508.8M
YoY Change -16.87% -9.01%
Gross Profit Margin 20.83% 22.62%
Selling, General & Admin $263.9M $236.4M
YoY Change 14.64% 8.19%
% of Gross Profit 55.34% 46.46%
Research & Development $92.80M $91.80M
YoY Change -7.75% -6.8%
% of Gross Profit 19.46% 18.04%
Depreciation & Amortization $72.00M $62.00M
YoY Change 14.47% 19.92%
% of Gross Profit 15.1% 12.19%
Operating Expenses $356.7M $328.2M
YoY Change 7.83% 3.53%
Operating Profit $120.2M $201.1M
YoY Change -50.51% -20.92%
Interest Expense -$10.30M $32.50M
YoY Change 0.98% 61.69%
% of Operating Profit -8.57% 16.16%
Other Income/Expense, Net $10.90M $13.10M
YoY Change -25.85% 77.03%
Pretax Income $120.8M $181.7M
YoY Change -51.03% -24.79%
Income Tax $17.50M $30.20M
% Of Pretax Income 14.49% 16.62%
Net Earnings $103.4M $151.7M
YoY Change -47.11% -18.57%
Net Earnings / Revenue 4.52% 6.75%
Basic Earnings Per Share $2.66
Diluted Earnings Per Share $1.81 $2.62
COMMON SHARES
Basic Shares Outstanding 56.47M shares 56.69M shares
Diluted Shares Outstanding 57.80M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $367.8M $295.3M
YoY Change 13.34% -7.4%
Cash & Equivalents $367.8M $295.3M
Short-Term Investments
Other Short-Term Assets $198.0M $177.3M
YoY Change 7.78% 12.0%
Inventory $1.811B $2.052B
Prepaid Expenses
Receivables $306.4M $477.8M
Other Receivables $9.000M $41.20M
Total Short-Term Assets $2.692B $3.043B
YoY Change -2.74% 7.36%
LONG-TERM ASSETS
Property, Plant & Equipment $1.345B $1.162B
YoY Change 19.13% 21.25%
Goodwill $394.4M $389.4M
YoY Change 2.12% 2.55%
Intangibles $512.0M $517.7M
YoY Change -2.36% -1.93%
Long-Term Investments $141.1M $109.7M
YoY Change 51.56% 87.2%
Other Assets $431.7M $132.7M
YoY Change 36.1% 68.19%
Total Long-Term Assets $2.825B $2.690B
YoY Change 15.28% 19.09%
TOTAL ASSETS
Total Short-Term Assets $2.692B $3.043B
Total Long-Term Assets $2.825B $2.690B
Total Assets $5.516B $5.733B
YoY Change 5.72% 12.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $713.1M $882.4M
YoY Change -15.87% 3.71%
Accrued Expenses $1.124B $967.6M
YoY Change 22.01% 25.19%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $54.00M $553.9M
YoY Change -90.25% 0.07%
Total Short-Term Liabilities $1.934B $2.438B
YoY Change -16.95% 10.2%
LONG-TERM LIABILITIES
Long-Term Debt $1.854B $1.656B
YoY Change 23.28% 4.73%
Other Long-Term Liabilities $307.3M $292.7M
YoY Change 10.14% 77.18%
Total Long-Term Liabilities $2.162B $292.7M
YoY Change 21.23% 77.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.934B $2.438B
Total Long-Term Liabilities $2.162B $292.7M
Total Liabilities $4.098B $4.387B
YoY Change -0.51% 7.99%
SHAREHOLDERS EQUITY
Retained Earnings $243.5M $190.7M
YoY Change 620.41% -1044.06%
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 $1.418B $1.333B
YoY Change
Total Liabilities & Shareholders Equity $5.516B $5.733B
YoY Change 5.72% 12.56%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $103.4M $151.7M
YoY Change -47.11% -18.57%
Depreciation, Depletion And Amortization $72.00M $62.00M
YoY Change 14.47% 19.92%
Cash From Operating Activities $549.8M $28.10M
YoY Change 39.19% -83.53%
INVESTING ACTIVITIES
Capital Expenditures $100.9M $105.5M
YoY Change -189.29% -242.18%
Acquisitions
YoY Change
Other Investing Activities -$15.20M -$50.30M
YoY Change -71.54% -310.46%
Cash From Investing Activities -$116.1M -$155.8M
YoY Change -30.23% 209.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -369.9M 88.80M
YoY Change 55.49% -179.07%
NET CHANGE
Cash From Operating Activities 549.8M 28.10M
Cash From Investing Activities -116.1M -155.8M
Cash From Financing Activities -369.9M 88.80M
Net Change In Cash 63.80M -38.90M
YoY Change -786.02% -586.25%
FREE CASH FLOW
Cash From Operating Activities $549.8M $28.10M
Capital Expenditures $100.9M $105.5M
Free Cash Flow $448.9M -$77.40M
YoY Change -11.63% -131.62%

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CY2022Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.64
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.95
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.92
CY2023Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
56600000 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
58800000 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
56800000 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
59400000 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
200000 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
200000 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
200000 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
200000 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
200000 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
200000 shares
us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
200000 shares
us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
200000 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57000000.0 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59800000 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57800000 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60000000.0 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57900000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60600000 shares
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1000000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1400000 shares
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1400000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1600000 shares
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-87500000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
25000000.0 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
3500000 usd
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
32200000 usd
CY2023Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-80300000 usd
CY2023Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
109700000 usd
CY2023Q3 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
98200000 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
16400000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
3000000.0 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
25200000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
3000000.0 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
-400000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
8200000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
3500000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
22600000 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 segment
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2248900000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2340600000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6645200000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6184900000 usd
CY2023Q3 us-gaap Gross Profit
GrossProfit
508800000 usd
CY2022Q3 us-gaap Gross Profit
GrossProfit
559200000 usd
us-gaap Gross Profit
GrossProfit
1483000000 usd
us-gaap Gross Profit
GrossProfit
1386500000 usd
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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pii-20230930_def.xml Edgar Link unprocessable
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