Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of open foreign currency contracts

At June 30, 2015, Polaris had the following open foreign currency contracts (in thousands):

Foreign Currency	Notional Amounts (in U.S. Dollars)		Net Unrealized Gain (Loss)
Australian Dollar	$	19,414	$	375
Canadian Dollar	174,648		27
Japanese Yen	11,801		(501		)
Mexican Peso	41,702		(2,081		)
Total	$	247,565	$	(2,180	)

Schedule of carrying values of derivative instruments

The table below summarizes the carrying values of derivative instruments as of June 30, 2015 and December 31, 2014 (in thousands):

	Carrying Values of Derivative Instruments as of June 30, 2015
	Fair Value— Assets		Fair Value— (Liabilities)			Derivative Net Carrying Value
Derivatives designated as hedging instruments
Foreign exchange contracts(1)	$	1,488	$	(3,668	)	$	(2,180	)
Total derivatives designated as hedging instruments	$	1,488	$	(3,668	)	$	(2,180	)
Commodity contracts(1)	—		$	(1,860	)	$	(1,860	)
Total derivatives not designated as hedging instruments	—		$	(1,860	)	$	(1,860	)
Total derivatives	$	1,488	$	(5,528	)	$	(4,040	)

	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	)

(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 Derivative Instruments, Effect on Other Comprehensive Income (Loss)

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 loss for the three and six months ended June 30, 2015 and 2014 (in thousands):

Unrealized Gains (Losses) From Derivatives in Cash Flow Hedging Relationships	Three months ended June 30,						Six months ended June 30,
	2015			2014			2015		2014
Foreign currency contracts	$	(1,341	)	$	(1,581	)	$	231	$	(1,015	)