Polaris 2011 Annual Report Download - page 87

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The tables below summarize the carrying values of derivative instruments as of December 31, 2011 and
2010 (in thousands):
Carrying Values of Derivative Instruments as of December 31, 2011
Fair Value—Assets Fair Value—(Liabilities)
Derivative Net
Carrying Value
Derivatives designated as hedging
instruments
Foreign exchange contracts(2) ........... $4,738 $(1,160) $ 3,578
Total derivatives designated as hedging
instruments ....................... $4,738 $(1,160) $ 3,578
Commodity contracts(2) ................ $ 193 $(1,530) $(1,337)
Total derivatives not designated as
hedging instruments ................ $ 193 $(1,530) $(1,337)
Total Derivatives ..................... $4,931 $(2,690) $ 2,241
Carrying Values of Derivative Instruments as of December 31, 2010
Fair Value—Assets Fair Value—(Liabilities)
Derivative Net
Carrying Value
Derivatives Designated as Hedging
Instruments
Interest rate contracts(1) ................ — $ (126) $ (126)
Foreign exchange contracts(2) ........... $ 39 (2,058) (2,019)
Total derivatives designated as hedging
instruments ....................... $ 39 $(2,184) $(2,145)
Commodity contracts(2) ................ $889 — $ 889
Total derivatives not designated as
hedging instruments ................ $889 — $ 889
Total Derivatives ..................... $928 $(2,184) $(1,256)
(1) Included in Other Current Liabilities on the accompanying consolidated balance sheet.
(2) Assets are included in Prepaid expenses and other and liabilities are included in Other Current Liabilities on
the accompanying consolidated balance sheet.
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