Polaris 2013 Annual Report Download - page 89

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Dividends. Quarterly and total year cash dividends declared per common share for the year ended
December 31, 2013 and 2012 were as follows:
For the Years
Ended
December 31,
2013 2012
Quarterly dividend declared and paid per common share ........ $0.42 $0.37
Total dividends declared and paid per common share ........... $1.68 $1.48
On January 30, 2014, the Polaris Board of Directors declared a regular cash dividend of $0.48 per share
payable on March 17, 2014 to holders of record of such shares at the close of business on March 3, 2014.
Net income per share. Basic earnings per share is computed by dividing net income available to common
shareholders by the weighted average number of common shares outstanding during each period, including
shares earned under The Deferred Compensation Plan for Directors (‘‘Director Plan’’), the ESOP and
deferred stock units under the 2007 Omnibus Incentive Plan (‘‘Omnibus Plan’’). Diluted earnings per share is
computed under the treasury stock method and is calculated to compute the dilutive effect of outstanding
stock options issued under the 1995 Stock Option Plan and the 2003 Non-Employee Director Stock Option
Plan (collectively, the ‘‘Option Plans’’) and certain shares issued under the Omnibus Plan. A reconciliation of
these amounts is as follows (in thousands):
For the Years Ended
December 31,
2013 2012 2011
Weighted average number of common shares outstanding ...... 68,209 68,409 68,315
Director Plan and deferred stock units .................... 242 341 342
ESOP ........................................... 84 99 135
Common shares outstanding—basic ...................... 68,535 68,849 68,792
Dilutive effect of restricted stock awards .................. 228 181 165
Dilutive effect of stock option awards .................... 1,783 1,975 2,100
Common and potential common shares outstanding—diluted . . . 70,546 71,005 71,057
During the 2013, 2012 and 2011 the number of options that could potentially dilute earnings per share on a
fully diluted basis that were not included in the computation of diluted earnings per share because to do so
would have been anti-dilutive were 23,000, 872,000 and 131,000, respectively.
Accumulated other comprehensive income. Changes in the accumulated other comprehensive income balance is
as follows (in thousands):
Foreign Accumulated Other
Currency Cash Flow Comprehensive
Items Hedging Derivatives Income
Balance as of December 31, 2012 . . $13,669 $(1,431) $12,238
Reclassification to the income
statement .................. — (694) (694)
Change in fair value ........... 4,913 2,304 7,217
Balance as of December 31, 2013 . . $18,582 $ 179 $18,761
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