Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of open foreign currency contracts

At September 30, 2018, Polaris had the following open foreign currency contracts (in thousands):

Foreign Currency	Notional Amounts (in U.S. Dollars)		Net Unrealized Gain
Australian Dollar	$	7,350	$	577
Canadian Dollar	104,486		1,451
Mexican Peso	20,023		982
Total	$	131,859	$	3,010

Schedule of open interest rate swap contracts

At September 30, 2018, Polaris had the following open interest rate swap contracts (in thousands):

Effective Date	Termination Date	Notional Amounts		Net Unrealized Gain (Loss)
May 2, 2018	May 4, 2021	$	25,000	$	682
September 28, 2018	September 30, 2019	250,000		(65		)
September 30, 2019	September 30, 2023	150,000		162
Total		$	425,000	$	779

Schedule of carrying values of derivative instruments

The table below summarizes the carrying values of derivative instruments as of September 30, 2018 and December 31, 2017 (in thousands):

	Carrying Values of Derivative Instruments as of September 30, 2018
	Fair Value— Assets		Fair Value— (Liabilities)		Derivative Net Carrying Value
Derivatives designated as hedging instruments
Foreign exchange contracts(1)	$	3,010	$	—	$	3,010
Interest rate contracts(1)	779		—		779
Total derivatives designated as hedging instruments	$	3,789	$	—	$	3,789
Total derivatives	$	3,789	$	—	$	3,789

	Carrying Values of Derivative Instruments as of December 31, 2017
	Fair Value— Assets		Fair Value— (Liabilities)			Derivative Net Carrying Value
Derivatives designated as hedging instruments
Foreign exchange contracts(1)	$	621	$	(1,047	)	$	(426	)
Total derivatives designated as hedging instruments	$	621	$	(1,047	)	$	(426	)
Total derivatives	$	621	$	(1,047	)	$	(426	)

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