Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2013

Text Block [Abstract]

Schedule of open foreign currency contracts

At September 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	$	4,664	$	391
Canadian Dollar	120,589		422
Japanese Yen	23,883		(610		)
Mexican Peso	16,875		182
Norwegian Kroner	4,606		149
Swedish Krona	8,213		(98		)
Total	$	178,830	$	436

Schedule of carrying values of derivative instruments

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

	Carrying Values of Derivative Instruments as of September 30, 2013
	Fair Value— Assets		Fair Value— (Liabilities)			Derivative Net Carrying Value
Derivatives designated as hedging instruments
Foreign exchange contracts(1)	$	1,504	$	(1,068	)	$	436
Total derivatives designated as hedging instruments	$	1,504	$	(1,068	)	$	436
Commodity contracts(1)	$	23	$	(101	)	$	(78	)
Total derivatives not designated as hedging instruments	$	23	$	(101	)	$	(78	)
Total derivatives	$	1,527	$	(1,169	)	$	358

	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 nine months ended September 30, 2013 and 2012 (in thousands):

Derivatives in Cash Flow Hedging Relationships	Three months ended September 30,						Nine months ended September 30,
	2013			2012			2013			2012
Interest rate contracts	$	(3	)	$	(6	)	$	(15	)	$	(18	)
Foreign currency contracts	(1,128		)	(1,744		)	1,904			(3,378		)
Total	$	(1,131	)	$	(1,750	)	$	1,889		$	(3,396	)