Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2013

Text Block [Abstract]

Schedule of open foreign currency contracts

At June 30, 2013, Polaris had the following open foreign currency contracts (in thousands):

Foreign Currency	Notional Amounts (in US Dollars)		Net Unrealized Gain (Loss)
Australian Dollar	$	7,531	$	809
Canadian Dollar	67,570		1,845
Japanese Yen	26,925		(1,002		)
Mexican Peso	8,999		120
Norwegian Kroner	4,848		227
Swedish Krona	8,103		220
Total	$	123,976	$	2,219

Schedule of carrying values of derivative instruments

The table below summarizes the carrying values of derivative instruments as of June 30, 2013 and December 31, 2012 (in thousands):

	Carrying Values of Derivative Instruments as of June 30, 2013
	Fair Value— Assets		Fair Value— (Liabilities)			Derivative Net Carrying Value
Derivatives designated as hedging instruments
Foreign exchange contracts(1)	$	4,197	$	(1,978	)	$	2,219
Total derivatives designated as hedging instruments	$	4,197	$	(1,978	)	$	2,219
Commodity contracts(1)	$	35	$	(290	)	$	(255	)
Total derivatives not designated as hedging instruments	$	35	$	(290	)	$	(255	)
Total derivatives	$	4,232	$	(2,268	)	$	1,964

	Carrying Values of Derivative Instruments as of December 31, 2012
	Fair Value— Assets		Fair Value— (Liabilities)			Derivative Net Carrying Value
Derivatives designated as hedging instruments
Foreign exchange contracts(1)	$	1,122	$	(3,739	)	$	(2,617	)
Total derivatives designated as hedging instruments	$	1,122	$	(3,739	)	$	(2,617	)
Commodity contracts(1)	$	114	$	(238	)	$	(124	)
Total derivatives not designated as hedging instruments	$	114	$	(238	)	$	(124	)
Total derivatives	$	1,236	$	(3,977	)	$	(2,741	)

(1) Assets are included in prepaid expenses and other and liabilities are included in other accrued expenses on the accompanying consolidated balance sheets.

Schedule of gains and losses, net of tax, related to derivative instruments designated as cash flow hedges included in accumulated other comprehensive income, net

The table below provides data about the amount of gains and losses, net of tax, related to derivative instruments designated as cash flow hedges included in accumulated other comprehensive income for the three and six months ended June 30, 2013 and 2012 (in thousands):

Derivatives in Cash Flow Hedging Relationships	Three months ended June 30,						Six months ended June 30,
	2013			2012			2013			2012
Interest rate contracts	$	(6	)	$	(6	)	$	(12	)	$	(12	)
Foreign currency contracts	1,919			1,781			3,032			(1,634		)
Total	$	1,913		$	1,775		$	3,020		$	(1,646	)