Polaris 2011 Annual Report Download - page 59
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In the third quarter of 2010, we sold our remaining equity investment in KTM for $9.6 million and recorded
a net gain on securities available for sale of $1.6 million. Prior to the sale of the KTM investment, we owned less
than 5 percent of KTM’s outstanding shares. The KTM investment, prior to the sale, had been classified as
available for sale securities under ASC Topic 320. During the second quarter 2010, we determined that the
decline in the fair value of the KTM shares owned by us as of June 30, 2010 was other than temporary and
therefore recorded in the statement of income a non-cash impairment charge on securities held for sale of
$0.8 million. During the first quarter 2009, we determined that the decline in the fair value of the KTM shares
owned by us as of March 31, 2009 was other than temporary and therefore recorded in the income statement a
non-cash impairment charge on securities held for sale of $9.0 million.
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