Polaris 2014 Annual Report Download - page 52

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Item 6. Selected Financial Data
The following table presents our selected financial data. The table should be read in conjunction with Item 7,
Management’s Discussion and Analysis of Financial Condition and Results of Operations, and Item 8, Financial
Statements and Supplementary Data, of this Annual Report on Form 10-K. All periods presented reflect the
classification of the marine products division’s financial results, including the loss from discontinued
operations and the loss on disposal of the division, as discontinued operations. Per share data has been
adjusted to give effect of all stock splits through 2014.
Selected Financial Data
For the Years Ended December 31,
(Dollars in millions, except per-share data) 2014 2013 2012 2011 2010
Statement of Operations Data
Sales Data:
Total sales ............................... $4,479.6 $3,777.1 $3,209.8 $2,656.9 $1,991.1
Percent change from prior year ............ 19% 18% 21% 33% 27%
Sales components:
Off-Road Vehicles ...................... 65% 67% 69% 69% 69%
Snowmobiles .......................... 7% 8% 9% 11% 10%
Motorcycles .......................... 8% 6% 6% 5% 4%
Small Vehicles ........................ 3% 3% 2% —% —%
Parts, Garments and Accessories ........... 17% 16% 14% 15% 17%
Gross Profit Data:
Total gross profit .......................... $1,319.2 $1,120.9 $ 925.3 $ 740.6 $ 530.2
Percent of sales ........................ 29.4% 29.7% 28.8% 27.9% 26.6%
Operating Expense Data:
Total operating expenses .................... $ 666.2 $ 588.9 $ 480.8 $ 414.7 $ 326.3
Percent of sales ........................ 14.9% 15.6% 15.0% 15.6% 16.4%
Operating Income Data:
Total operating income ...................... $ 714.7 $ 577.9 $ 478.4 $ 349.9 $ 220.7
Percent of sales ........................ 16.0% 15.3% 14.9% 13.2% 11.1%
Net Income Data:
Net income from continuing operations .......... $ 454.0 $ 381.1 $ 312.3 $ 227.6 $ 147.1
Percent of sales ........................... 10.1% 10.1% 9.7% 8.6% 7.4%
Diluted net income per share from continuing
operations ............................. $ 6.65 $ 5.40 $ 4.40 $ 3.20 $ 2.14
Net income .............................. $ 454.0 $ 377.3 $ 312.3 $ 227.6 $ 147.1
Diluted net income per share ................. $ 6.65 $ 5.35 $ 4.40 $ 3.20 $ 2.14
Cash Flow Data:
Cash flow provided by continuing operations ......... $ 529.3 $ 499.2 $ 416.1 $ 302.5 $ 297.9
Purchase of property and equipment ............... 205.1 251.4 103.1 84.5 55.7
Repurchase and retirement of common stock ......... 81.8 530.0 127.5 132.4 27.5
Cash dividends to shareholders ................... 126.9 113.7 101.5 61.6 53.0
Cash dividends per share ....................... $ 1.92 $ 1.68 $ 1.48 $ 0.90 $ 0.80
Balance Sheet Data (at end of year):
Cash and cash equivalents ....................... $ 137.6 $ 92.2 $ 417.0 $ 325.3 $ 393.9
Current assets ............................... 1,096.6 865.7 1,017.8 875.0 808.1
Total assets ................................. 2,074.9 1,685.5 1,488.5 1,228.0 1,061.6
Current liabilities ............................. 850.8 748.1 631.0 586.3 584.2
Long-term debt and capital lease obligations ......... 223.6 284.3 104.3 104.6 100.0
Shareholders’ equity ........................... 861.3 535.6 690.5 500.1 371.0
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