Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of open foreign currency contracts

At December 31, 2014, Polaris had the following open foreign currency contracts (in thousands):

Foreign Currency	Notional Amounts (in U.S. dollars)		Net Unrealized Gain (Loss)
Australian Dollar	$	3,491	$	391
Canadian Dollar	40,550		38
Japanese Yen	22,201		(1,008		)
Mexican Peso	34,060		(1,991		)
Total	$	100,302	$	(2,570	)

Schedule of carrying values of derivative instruments

The table below summarizes the carrying values of derivative instruments as of December 31, 2014 and 2013 (in thousands):

	Carrying Values of Derivative Instruments as of December 31, 2014
	Fair Value— Assets		Fair Value— (Liabilities)			Derivative Net Carrying Value
Derivatives designated as hedging instruments
Foreign exchange contracts(1)	$	534	$	(3,104	)	$	(2,570	)
Total derivatives designated as hedging instruments	$	534	$	(3,104	)	$	(2,570	)
Commodity contracts(1)	$	—	$	(4,609	)	$	(4,609	)
Total derivatives not designated as hedging instruments	$	—	$	(4,609	)	$	(4,609	)
Total derivatives	$	534	$	(7,713	)	$	(7,179	)

	Carrying Values of Derivative Instruments as of December 31, 2013
	Fair Value— Assets		Fair Value— (Liabilities)			Derivative Net Carrying Value
Derivatives designated as hedging instruments
Foreign exchange contracts(1)	$	1,194	$	(1,203	)	$	(9	)
Total derivatives designated as hedging instruments	$	1,194	$	(1,203	)	$	(9	)
Commodity contracts(1)	$	46	$	(16	)	$	30
Total derivatives not designated as hedging instruments	$	46	$	(16	)	$	30
Total derivatives	$	1,240	$	(1,219	)	$	21

(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 the effective portion of derivative instruments designated as cash flow hedges included in accumulated other comprehensive income (loss) for the years ended December 31, 2014 and 2013 (in thousands):

Derivatives in Cash Flow Hedging Relationships	For the Years Ended December 31,
	2014			2013
Interest rate contracts	—			$	(26	)
Foreign currency contracts	$	(1,631	)	1,636
Total	$	(1,631	)	$	1,610