NOTE 6. Investment in Other Affiliates

Investment in other affiliates in the consolidated balance sheets represents the Company’s investment in nonmarketable securities of strategic companies. Investment in other affiliates as of March 31, 2013 and December 31, 2012 is comprised of investments in Brammo, Inc. ("Brammo") and Eicher-Polaris Private Limited (EPPL) with the following balances (in thousands):



	March 31, 2013		December 31, 2012
Investment in Brammo	$	12,000	$	12,000
Investment in EPPL	421		817
Total investment in other affiliates	$	12,421	$	12,817

Brammo is a privately held manufacturer of electric motorcycles. The investment in Brammo is accounted for under the cost method.

EPPL is a joint venture established in 2012 with Eicher Motors Limited (Eicher). Polaris and Eicher each control 50 percent of the joint venture, which is intended to design, develop and manufacture a full range of new vehicles for India and other emerging markets. The investment in EPPL is accounted for under the equity method, with Polaris’ proportionate share of income or loss recorded within the consolidated financial statements on a one month lag due to financial information not being available timely. The overall investment is expected to be approximately $50,000,000, shared equally with Eicher over a three year period. An initial investment of $999,000 was made by Polaris in November 2012. Polaris' share of EPPL loss for the three months ended March 31, 2013 was $412,000 and is included in equity in loss of other affiliates on the consolidated statements of income.