Polaris 2011 Annual Report Download - page 66

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, 2008 ............................ 64,984 $650 — $ 140,234 $ (3,857) $ 137,027
Employee stock compensation ........................ 62 1 10,225 10,226
Proceeds from stock issuances under employee plans ...... 472 4 4,729 4,733
Tax effect of exercise of stock options .................. (410) (410)
Cash dividends declared ($0.78 per share) ............... (50,177) (50,177)
Repurchase and retirement of common shares ............ (222) (2) (4,554) (4,556)
Comprehensive income:
Net Income ................................... 101,017
Foreign currency translation adjustments, net of tax of
$69 ....................................... 115
Reclassification of unrealized loss on available for sale
securities to the income statement, net of tax of
$2,277 ..................................... 6,675
Unrealized loss on available for sale securities, net of
tax benefit of $230 ........................... (382)
Unrealized gain on derivative instruments, net of tax of
$165 ...................................... 273
Total comprehensive income ......................... 107,698
Balance, December 31, 2009 ............................ 65,296 653 9,990 191,074 2,824 204,541
Employee stock compensation ........................ 308 3 18,049 18,052
Proceeds from stock issuances under employee plans ...... 4,066 41 68,064 68,105
Tax effect of exercise of stock options .................. 10,610 10,610
Cash dividends declared ($0.80 per share) ............... (53,043) (53,043)
Repurchase and retirement of common shares ............ (1,202) (12) (27,474) (27,486)
Comprehensive income:
Net Income ................................... 147,138
Foreign currency translation adjustments, net of tax of
$222 ...................................... 3,131
Unrealized gain on available for sale securities, net of
tax benefit of $230 ........................... 382
Unrealized loss on derivative instruments, net of tax
benefit of $256 .............................. (439)
Total comprehensive income ......................... 150,212
Balance, December 31, 2010 ............................ 68,468 685 79,239 285,169 5,898 370,991
Employee stock compensation ........................ 290 3 20,545 20,548
Proceeds from stock issuances under employee plans ...... 2,280 22 45,632 45,654
Tax effect of exercise of stock options .................. 23,120 23,120
Cash dividends declared ($0.90 per share) ............... (61,585) (61,585)
Repurchase and retirement of common shares ............ (2,608) (26) (3,018) (129,328) (132,372)
Comprehensive income:
Net Income ................................... 227,575
Foreign currency translation adjustments, net of tax
benefit of $6,782 ............................. 2,554
Unrealized gain/(loss) on derivative instruments, net of
tax of $2,125 ................................ 3,571
Total comprehensive income ......................... 233,700
Balance, December 31, 2011 ............................ 68,430 $684 $165,518 $ 321,831 $12,023 $ 500,056
The accompanying footnotes are an integral part of these consolidated statements.
Shares outstanding, common stock, additional paid-in-capital, retained earnings and per share data
have been adjusted to give effect to the two-for-one stock split declared on July 20, 2011, paid on
September 12, 2011 to shareholders of record on September 2, 2011.
50