8-K

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): March 15, 2002

POLARIS INDUSTRIES INC.
(Exact name of Registrant as specified in its charter)

Minnesota
(State of Incorporation) 1-11411
(Commission File Number) 41-1790959
(I.R.S. Employer Identification No.)

2100 Highway 55
Medina, Minnesota 55340
(Address of principal executive offices)
(Zip Code)

(763) 542-0500
(Registrant’s telephone number, including area code)

TABLE OF CONTENTS

	Item 4. Changes in Registrant’s Certifying Accountant.
	Item 9. Financial Statements and Exhibits.
SIGNATURE
EXHIBIT INDEX
Letter from Arthur Andersen LLP to the SEC
Press Release

Item 4. Changes in Registrant’s Certifying Accountant.

On March 15, 2002, the Board of Directors of Polaris Industries Inc. (the “Company”) and its Audit Committee decided to no longer engage Arthur Andersen LLP (“Arthur Andersen” or “AA”) as the Company’s independent auditors and engaged Ernst & Young LLP (“E&Y”) to serve as the Company’s independent auditors for the fiscal year ending December 31, 2002.

Arthur Andersen’s reports on the Company’s consolidated financial statements for each of the years ended December 31, 2000 and 1999 did not contain an adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles. AA’s report on the Company’s consolidated financial statements for the year ended December 31, 2001 has not yet been issued, but it is expected to be issued on an unqualified basis later in March 2002 in conjunction with the publication of the Company’s Annual Report to Shareholders and the filing of the Company’s Annual Report on Form 10-K.

During the years ended December 31, 2001 and 2000 and through the date hereof, there were no disagreements with Arthur Andersen on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure which, if not resolved to AA’s satisfaction, would have caused them to make reference to the subject matter of the disagreements in connection with their report on the Company’s financial statements for such years; and there are no reportable events as defined in Item 304(a)(1)(v) of Regulation S-K.

The Company provided Arthur Andersen with a copy of the foregoing disclosures. Attached as Exhibit 16 is a copy of AA’s letter, dated March 15, 2002, stating its agreement with such statements.

During the years ended December 31, 2001 and 2000 and through the date hereof, the Company did not consult E&Y with respect to the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company’s consolidated financial statements, or any other matters or reportable events as set forth in Items 304(a)(2)(i) and (ii) of Regulation S-K.

Item 9. Financial Statements and Exhibits.

     (c)  The following exhibits are filed with the document:

Exhibit
Number	Description
16	Letter from Arthur Andersen LLP to the Securities and Exchange Commission dated March 15, 2002.
99.1	Press Release dated March 15, 2002.

2

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on it behalf by the undersigned, thereunto duly authorized.

Date: March 15, 2002

POLARIS INDUSTRIES INC

/s/ Michael W. Malone
Michael W. Malone
Vice President — Finance,
Chief Financial Officer and
Secretary of Polaris Industries Inc.

3

EXHIBIT INDEX

Exhibit
Number	Description
16	Letter from Arthur Andersen LLP to the Securities and Exchange Commission dated March 15, 2002.
99.1	Press Release dated March 15, 2002.

4 EX-16 3 c68114ex16.htm LETTER FROM ARTHUR ANDERSEN LLP TO THE SEC

Exhibit 16

Office of the Chief Accountant
Securities and Exchange Commission
450 Fifth Street, N.W. 20549

March 15, 2002

Dear Sir or Madam:

We have read the first four (4) paragraphs of Item 4 included in the Form 8-K, dated March 15, 2002, of Polaris Industries Inc. to be filed with the Securities and Exchange Commission and are in agreement with the statements contained therein.

Very truly yours,

/s/ Arthur Andersen LLP
Arthur Andersen LLP

cc: Thomas C. Tiller,
Chief Executive Officer
and President, Polaris
Industries Inc.

EX-99.1 4 c68114ex99-1.htm PRESS RELEASE

Exhibit 99.1

Polaris Industries Appoints Ernst & Young LLP as Auditor

Contact: Richard Edwards
Polaris Industries Inc.
Ph: 763-542-0500

MINNEAPOLIS (March 15, 2002) - Polaris Industries (PII:NYSE) today announced that its Board of Directors has appointed Ernst & Young LLP as the company’s independent auditors for the year ending December 31, 2002.

The appointment of Ernst & Young was made after careful consideration by the Board of Directors, its Audit Committee and the management of the company and concludes an extensive evaluation process. Ernst & Young replaces Arthur Andersen LLP as the company’s independent auditors. The decision to change auditors was not the result of any disagreement between the company and Arthur Andersen on any matter of accounting principles or practice, financial statement disclosure, or auditing scope or procedure. During its seven-year tenure as the company’s outside auditors, Arthur Andersen has provided high quality audit services with a high degree of professionalism, and Polaris has valued its relationship with Arthur Andersen.

Polaris designs, engineers, manufactures and markets snowmobiles, all-terrain vehicles (ATVs), Victory motorcycles, watercraft, and the Polaris RANGER for recreational and utility use with annual 2001 sales of $1,512.0 million. Polaris is the largest snowmobile manufacturer in the world, and one of the largest U.S. manufacturers of ATVs and watercraft. Polaris enhances the riding experience with a complete line of PurePolaris apparel, accessories, and parts available at Polaris dealerships. Consumers can also purchase apparel and vehicle accessories around the clock online at www.polarisindustries.com. The Polaris Professional Series, a line of heavy duty Workmobiles, targeted at lawn and landscape companies, equipment rental companies and construction operations, marks Polaris’ expansion into the commercial equipment marketplace. Polaris Industries Inc. trades on the New York Stock Exchange and Pacific Stock Exchange under the symbol “PII,” and the company is included in the S&P SmallCap 600 stock price index.

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EX-16

Letter from Arhtur Andersen LLP to the SEC

EX-99.1

Press Release