Polaris 2008 Annual Report Download - page 57

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POLARIS INDUSTRIES INC.
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’
EQUITY AND COMPREHENSIVE INCOME
(In thousands, except per share data)
Number
of Shares
Common
Stock
Additional
Paid-In Capital
Retained
Earnings
Accumulated Other
Comprehensive
Income (Loss) Total
Balance, December 31, 2005 . . . . . . . . . . . . . 41,687 $417 — $ 379,032 $ (2,430) $ 377,019
Cumulative effect of accounting change. . . . . (582) (582)
Employee stock compensation . . . . . . . . . . . 338 3 13,399 13,402
Proceeds from stock issuances under
employee plans . . . . . . . . . . . . . . . . . . . . 310 3 9,169 9,172
Tax effect of exercise of stock options. . . . . . 2,003 2,003
Cash dividends declared ($1.24 per share) . . . (50,234) (50,234)
Repurchase and retirement of common
shares . . . . . . . . . . . . . . . . . . . . . . . . . . (6,880) (68) (24,571) (282,982) (307,621)
Comprehensive income:
Net Income. . . . . . . . . . . . . . . . . . . . . . . 106,985
Foreign currency translation adjustments,
net . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,335
Unrealized gain on derivative instruments,
net of tax . . . . . . . . . . . . . . . . . . . . . . 1,892
Total comprehensive income . . . . . . . . . . . . 124,212
Balance, December 31, 2006 . . . . . . . . . . . . . 35,455 $355 — $ 152,219 $ 14,797 $ 167,371
Employee stock compensation . . . . . . . . . . . 210 2 19,757 19,759
Proceeds from stock issuances under
employee plans . . . . . . . . . . . . . . . . . . . . 450 4 11,725 11,729
Tax effect of exercise of stock options. . . . . . 2,232 2,232
Cash dividends declared ($1.36 per share) . . . (47,739) (47,739)
Repurchase and retirement of common
shares . . . . . . . . . . . . . . . . . . . . . . . . . . (1,903) (19) (33,714) (69,367) (103,100)
Comprehensive income:
Net Income. . . . . . . . . . . . . . . . . . . . . . . 111,650
Foreign currency translation adjustments,
net . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,818
Unrealized gain on equity securities, net . . 6,238
Unrealized loss on derivative instruments,
net of tax . . . . . . . . . . . . . . . . . . . . . . (1,976)
Total comprehensive income . . . . . . . . . . . . 122,730
Balance, December 31, 2007 . . . . . . . . . . . . . 34,212 $342 — $ 146,763 $ 25,877 $ 172,982
Employee stock compensation . . . . . . . . . . . 305 3 18,555 18,558
Proceeds from stock issuances under
employee plans . . . . . . . . . . . . . . . . . . . . 520 5 12,860 12,865
Tax effect of exercise of stock options. . . . . . 1,730 1,730
Cash dividends declared ($1.52 per share) . . . (49,602) (49,602)
Repurchase and retirement of common
shares . . . . . . . . . . . . . . . . . . . . . . . . . . (2,545) (25) (33,145) (73,997) (107,167)
Comprehensive income:
Net Income. . . . . . . . . . . . . . . . . . . . . . . 117,395
Foreign currency translation adjustments,
net . . . . . . . . . . . . . . . . . . . . . . . . . . . (18,421)
Unrealized loss on equity securities, net . . . (12,913)
Unrealized gain on derivative instruments,
net of tax . . . . . . . . . . . . . . . . . . . . . . 1,600
Total comprehensive income . . . . . . . . . . . . 87,661
Balance, December 31, 2008 . . . . . . . . . . . . . 32,492 $325 — $ 140,559 $ (3,857) $ 137,027
All periods presented reflect the classification of the marine division’s financial results as discontinued
operations.
The accompanying footnotes are an integral part of these consolidated statements.
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