Polaris 2011 Annual Report Download - page 89

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The Company expects to record transition charges, including both exit costs and startup costs during the 2010 –
2012 time period. The exit costs pertaining to the manufacturing realignment are expected to total approximately
$7,100,000 over that time period. The exit costs are classified within Cost of sales in the consolidated statements
of income. A summary of these exit costs follows:
(In thousands)
Total Amount
Expected to be
Incurred
Amount Incurred
During the Twelve
Months Ended
December 31, 2011
Cumulative Amounts
Incurred through
December 31, 2011
Termination benefits ........... $6,000 $ 980 $5,823
Other associated costs .......... 1,100 368 989
Total Exit Costs ........... $7,100 $1,348 $6,812
Utilization of components of the accrued exit costs during the year ended December 31, 2011 and 2010 is as
follows:
2011 (In thousands)
Balance
December 31, 2010
Amount provided for
During 2011
Amount Paid
During 2011
Balance
December 31, 2011
Termination benefits .... $4,843 $ 980 $(3,589) $2,234
Other associated costs . . . 619 368 (987) —
Total Exit Costs .... $5,462 $1,348 $(4,576) $2,234
2010 (In thousands)
Balance
December 31, 2019
Amount provided for
During 2010
Amount Paid
During 2010
Balance
December 31, 2010
Termination benefits .... — $4,843 — $4,843
Other associated costs . . . — 621 $ (2) 619
Total Exit Costs .... $— $,4645 $ (2) $5,462
Note 12. Segment Reporting
Polaris has reviewed ASC Topic 280 and determined that the Company meets the aggregation criteria
outlined since the Company’s segments have similar (1) economic characteristics, (2) product and services,
(3) production processes, (4) customers, (5) distribution channels, and (6) regulatory environments. Therefore,
the Company reports as a single reportable business segment.
The following data relates to Polaris’ foreign operations:
For the Years Ended December 31,
(In thousands) 2011 2010 2009
Canadian subsidiary:
Sales ................................... $368,487 $279,309 $239,240
Identifiable assets ......................... 18,008 42,936 35,462
Other foreign countries:
Sales ................................... $424,363 $305,864 $252,419
Identifiable assets ......................... 252,519 145,528 97,771
Note 13. Subsequent Events
The Company has evaluated events subsequent to the balance sheet date through the date the consolidated
financial statements have been filed. There were no other subsequent events which required recognition or
disclosure in the consolidated financial statements.
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