Polaris 2014 Annual Report Download - page 98

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Sales to external customers based on the location of the customer and property and equipment, net, by
geography are presented in the tables below (in thousands):
For the Years Ended December 31,
2014 2013 2012
United States ............................. $3,339,905 $2,721,300 $2,310,943
Canada ................................. 454,608 463,316 438,208
Other foreign countries ...................... 685,135 592,452 460,631
Consolidated sales .......................... $4,479,648 $3,777,068 $3,209,782
As of December 31,
2014 2013
United States ....................................... $ 432,614 $ 349,224
Mexico ........................................... 49,064 52,450
Other foreign countries ............................... 73,750 53,493
Consolidated property and equipment, net .................. $ 555,428 $ 455,167
Note 13. Subsequent Events
On January 9, 2015, the Company announced plans to build a new production facility in Huntsville, Alabama
to provide additional capacity and flexibility. The 600,000 square-foot facility will focus on off-road vehicle
production. The Company will break ground on the facility in the first quarter of 2015 with completion
expected in the first half of 2016.
On January 29, 2015, the Board of Directors approved an increase in the Company’s common stock
repurchase authorization by 4.0 million shares. The additional share repurchase authorization, together with
the 1.1 million shares remaining available for repurchase under the prior authorization, represents
approximately eight percent of the shares of Polaris common stock currently outstanding.
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.
Note 14. Quarterly Financial Data (unaudited)
Diluted net
Net income from income per share
continuing from continuing Diluted net
Sales Gross profit operations Net income operations income per share
(In thousands, except per share data)
2014
First Quarter ........ $ 888,346 $ 258,417 $ 80,901 $ 80,901 $1.19 $1.19
Second Quarter ...... 1,013,959 304,914 96,905 96,905 1.42 1.42
Third Quarter ....... 1,302,343 388,274 140,826 140,826 2.06 2.06
Fourth Quarter ...... 1,275,000 367,573 135,397 135,397 1.98 1.98
Totals ............. $4,479,648 $1,319,178 $454,029 $454,029 $6.65 $6.65
2013
First Quarter ........ $ 745,909 $ 216,648 $ 75,464 $ 75,464 $1.07 $1.07
Second Quarter ...... 844,800 252,338 80,004 80,004 1.13 1.13
Third Quarter ....... 1,102,649 334,785 116,921 113,144 1.64 1.59
Fourth Quarter ...... 1,083,710 317,108 108,680 108,680 1.56 1.56
Totals ............. $3,777,068 $1,120,879 $381,069 $377,292 $5.40 $5.35
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