Financing Agreement (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

ebt, capital lease obligations, and notes payable and the average related interest rates were as follows (in thousands):

	Average interest rate at December 31, 2018	Maturity	December 31, 2018			December 31, 2017
Revolving loan facility	2.88%	July 2023	$	187,631		$	3,000
Term loan facility	3.76%	July 2023	1,150,000			680,000
Senior notes—fixed rate	3.81%	May 2018	—			25,000
Senior notes—fixed rate	4.60%	May 2021	75,000			75,000
Senior notes—fixed rate	3.13%	December 2020	100,000			100,000
Senior notes—fixed rate	4.23%	July 2028	350,000			—
Capital lease obligations	5.28%	Various through 2029	17,587			19,889
Notes payable and other	4.23%	Various through 2030	87,608			12,384
Debt issuance costs			(5,256		)	(2,261		)
Total debt, capital lease obligations, and notes payable			$	1,962,570		$	913,012
Less: current maturities			66,543			47,746
Total long-term debt, capital lease obligations, and notes payable			$	1,896,027		$	865,266

Summary of Activity Under Credit Arrangements, Excluding Acquired Borrowings

The following summarizes activity under Polaris’ credit arrangements (dollars in thousands):

	2018			2017			2016
Total borrowings at December 31	$	1,862,631		$	883,000		$	1,112,142
Average outstanding borrowings during year	$	1,474,485		$	1,133,641		$	638,614
Maximum outstanding borrowings during year	$	1,999,731		$	1,319,105		$	1,234,337
Interest rate at December 31	3.64		%	2.91		%	2.25		%