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Shareholders' Equity | 9 Months Ended
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Sep. 30, 2018
Equity [Abstract] |
Shareholders' Equity | Shareholders’ Equity During the nine months ended September 30, 2018, Polaris paid $246,931,000 to repurchase approximately 2,069,000 shares of its common stock. As of September 30, 2018, the Board of Directors has authorized the Company to repurchase up to an additional 4,367,000 shares of Polaris stock. The repurchase of any or all such shares authorized for repurchase will be governed by applicable SEC rules and dependent on management’s assessment of market conditions. Polaris paid a regular cash dividend of $0.60 per share on September 17, 2018 to holders of record at the close of business on August 31, 2018. On October 24, 2018, the Polaris Board of Directors declared a regular cash dividend of $0.60 per share payable on December 17, 2018 to holders of record of such shares at the close of business on December 3, 2018. Cash dividends declared and paid per common share for the three and nine months ended September 30, 2018 and 2017, were as follows:
|  | Three months ended September 30, |  | Nine months ended September 30,
|  | 2018 |  | 2017 |  | 2018 |  | 2017
Cash dividends declared and paid per common share |  | $ | 0.60 |  |  | $ | 0.58 |  |  | $ | 1.80 |  |  | $ | 1.74 |
Net income per share Basic income per share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during each period, including shares earned under the Deferred Compensation Plan for Directors (“Director Plan”) and the ESOP and deferred stock units under the 2007 Omnibus Incentive Plan (“Omnibus Plan”). Diluted income per share is computed under the treasury stock method and is calculated to compute the dilutive effect of outstanding stock options and certain shares issued under the Omnibus Plan. A reconciliation of these amounts is as follows (in thousands):
| Three months ended September 30, |  | Nine months ended September 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
Weighted average number of common shares outstanding | 61,927 |  | 62,398 |  |  | 62,630 |  | 62,637 |
Director Plan and deferred stock units | 181 |  | 161 |  |  | 175 |  | 154 |
ESOP | 99 |  | 87 |  |  | 89 |  | 99 |
Common shares outstanding—basic | 62,207 |  | 62,646 |  |  | 62,894 |  | 62,890 |
Dilutive effect of Omnibus Plan | 1,339 |  | 1,239 |  |  | 1,656 |  | 1,052 |
Common and potential common shares outstanding—diluted | 63,546 |  | 63,885 |  |  | 64,550 |  | 63,942 |
During the three and nine months ended September 30, 2018, the number of options that were not included in the computation of diluted income per share because the option exercise price was greater than the market price, and therefore, the effect would have been anti-dilutive, were 1,785,000 and 1,713,000, respectively, compared to 2,892,000 and 2,816,000 for the same periods in 2017. Accumulated other comprehensive loss Changes in the accumulated other comprehensive loss balance are as follows (in thousands):
| Foreign Currency Items |  | Cash Flow Hedging Derivatives |  | Retirement Plan Activity |  | Accumulated Other Comprehensive Loss
Balance as of December 31, 2017 | $ | (42,442 | ) |  | $ | (34 | ) |  | $ | (3,153 | ) |  | $ | (45,629 | )
Reclassification to the statement of income | — |  |  | (7,141 | ) |  | 196 |  |  | (6,945 | )
Change in fair value | (12,099 | ) |  | 10,139 |  |  | — |  |  | (1,960 | )
Balance as of September 30, 2018 | $ | (54,541 | ) |  | $ | 2,964 |  |  | $ | (2,957 | ) |  | $ | (54,534 | )
The table below provides data about the amount of gains and losses, net of tax, reclassified from accumulated other comprehensive loss into the statements of income for cash flow derivatives designated as hedging instruments for the three and nine months ended September 30, 2018 and 2017 (in thousands):
Derivatives in Cash Flow Hedging Relationships | Location of (Gain) Loss Reclassified from Accumulated Other Comprehensive Loss into Income |  | Three months ended September 30, |  | Nine months ended September 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
Foreign currency contracts | Other expense, net |  | $ | 4,587 |  |  | $ | (174 | ) |  | $ | 6,681 |  |  | $ | 2,433 |
Foreign currency contracts | Cost of sales |  | (62 | ) |  | 258 |  |  | 460 |  |  | (178 | )
Retirement benefit plan activity | Operating expenses |  | (66 | ) |  | — |  |  | (196 | ) |  | — |
Total |  |  | $ | 4,459 |  |  | $ | 84 |  |  | $ | 6,945 |  |  | $ | 2,255 |
The net amount of the existing gains or losses at September 30, 2018 that is expected to be reclassified into the statements of income within the next 12 months is not expected to be material. See Note 11 for further information regarding Polaris’ derivative activities.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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