<SEC-DOCUMENT>0001157523-18-002082.txt : 20181022
<SEC-HEADER>0001157523-18-002082.hdr.sgml : 20181022
<ACCEPTANCE-DATETIME>20181022060258
ACCESSION NUMBER:		0001157523-18-002082
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20181022
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20181022
DATE AS OF CHANGE:		20181022

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			POLARIS INDUSTRIES INC/MN
		CENTRAL INDEX KEY:			0000931015
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS TRANSPORTATION EQUIPMENT [3790]
		IRS NUMBER:				411790959
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11411
		FILM NUMBER:		181131451

	BUSINESS ADDRESS:	
		STREET 1:		2100 HIGHWAY 55
		CITY:			MEDINA
		STATE:			MN
		ZIP:			55340
		BUSINESS PHONE:		(763) 542-0500

	MAIL ADDRESS:	
		STREET 1:		2100 HIGHWAY 55
		STREET 2:		NONE
		CITY:			MEDINA
		STATE:			MN
		ZIP:			55340
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51886476.htm
<DESCRIPTION>POLARIS INDUSTRIES INC. 8-K
<TEXT>
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      <br>
      <font style="font-family: Times New Roman; font-size: 16pt">UNITED STATES</font><font style="font-family: Times New Roman; font-size: 16pt"><br style="font-size: 16pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 16pt">SECURITIES
      AND EXCHANGE COMMISSION</font><br><font style="font-family: Times New Roman; font-size: 12pt"><b>Washington,
      D.C. 20549</b></font><br><br><br><font style="font-family: Times New Roman; font-size: 18pt"><b>FORM
      8-K</b></font><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>CURRENT
      REPORT</b></font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-family: Times New Roman; font-size: 12pt"><b>Pursuant
      to Section 13 OR 15(d) of the Securities Exchange Act of 1934</b></font><br><br><font style="font-family: Times New Roman; font-size: 10pt">Date
      of Report (Date of earliest event reported): October 22, 2018</font><font style="font-family: Times New Roman; font-size: 10pt"><br style="font-size: 10pt; font-family: Times New Roman"></font><br><br><font style="font-size: 16pt"><b>POLARIS&#160;INDUSTRIES&#160;INC.</b></font><br><font style="font-family: Times New Roman; font-size: 10pt">(Exact
      name of Registrant as specified in its charter)</font>
    </p>
<div style="text-align:left">
    <table style="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt" cellspacing="0">
      <tr>
        <td valign="bottom" style="width: 33%; text-align: center; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Minnesota</b>
          </p>
        </td>
        <td valign="bottom" style="width: 34%; text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>1-11411</b>
          </p>
        </td>
        <td valign="bottom" style="width: 33%; text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>41-1790959</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 33%; text-align: center; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (State of Incorporation)
          </p>
        </td>
        <td valign="top" style="width: 34%; text-align: center; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Commission File Number)
          </p>
        </td>
        <td valign="top" style="width: 33%; text-align: center; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (I.R.S. Employer Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>
      <br>
      <b>2100 Highway 55</b><br><b>Medina, Minnesota 55340</b><br>(Address of
      principal executive offices)<br>(Zip Code)<br><br><b>(763) 542-0500</b><br>(Registrant&#8217;s
      telephone number, including area code)<br>
    </p>
    <p>

    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <p>

    </p>
    <p>
      Indicate by check mark whether the registrant is an emerging growth
      company as defined in Rule 405 of the Securities Act of 1933 (17 CFR
      &#167;230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR
      &#167;240.12b-2).
    </p>
    <p>
      Emerging growth company <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
    </p>
    <p>
      If an emerging growth company, indicate by check mark if the registrant
      has elected not to use the extended transition period for complying with
      any new or revised financial accounting standards provided pursuant to
      Section 13(a) of the Exchange Act. <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
    </p>
    <p>

    </p>
    <div style="margin-left: 0pt; margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: justify">
      <b>Item 2.02&#160;&#160;&#160;&#160;&#160;&#160;&#160;Results of Operations and Financial Condition.</b>
    </p>
    <p style="text-indent: 30.0px">
      On October 22, 2018, Polaris Industries Inc. (the &#8220;Company&#8221;) issued a
      press release announcing the Company&#8217;s third quarter 2018 financial
      results for the reporting period ended September 30, 2018.&#160;&#160;On October
      22, 2018, the Company also hosted its quarterly earnings conference
      call, which was accessible to the public.&#160;&#160;A replay of the conference
      call will be available by accessing the webcast link on the Company&#8217;s
      website at <b>http://ir.polaris.com.</b>
    </p>
    <p style="text-indent: 30.0px">
      A copy of the Company&#8217;s press release is furnished as Exhibit 99.1 is
      attached to this Current Report on Form 8-K.&#160;&#160;
    </p>
    <p>
      <b>Item&#160;9.01 &#160;&#160;&#160;&#160;&#160;&#160;Financial Statements and Exhibits.</b>
    </p>
    <p>
      <b>(d)&#160;Exhibits</b>.
    </p>
<div style="text-align:left">
    <table style="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt" cellspacing="0">
      <tr>
        <td valign="top" style="width: 2%; text-align: left; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="top" style="width: 6%; text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <a href="a51886476ex99_1.htm">99.1</a>
          </p>
        </td>
        <td valign="top" style="width: 92%; text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <a href="a51886476ex99_1.htm">Press Release dated October 22, 2018
            of Polaris Industries Inc.</a>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="margin-left: 0pt; margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURES</b></font>
    </p>
    <p style="text-indent: 30.0px">
      <font style="font-family: Times New Roman; font-size: 10pt">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned thereunto duly authorized.</font><br>
    </p>
<div style="text-align:left">
    <table style="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt" cellspacing="0">
      <tr>
        <td valign="top" style="width: 5%; text-align: left; padding-left: 0.0px">
          Date:
        </td>
        <td valign="top" style="width: 45%; text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            October 22, 2018
          </p>
        </td>
        <td style="width: 50%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td valign="middle" style="width: 50%; text-align: left; padding-left: 0.0px">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td valign="top" style="width: 50%; text-align: left; padding-left: 0.0px">
          POLARIS INDUSTRIES INC.
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td valign="middle" style="width: 50%; text-align: left; padding-left: 0.0px">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td valign="top" style="width: 50%; text-align: left; padding-left: 0.0px">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 5%; text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">

        </td>
        <td valign="top" style="width: 45%; text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">

        </td>
        <td valign="top" style="border-bottom-width: 1.0pt; width: 50%; border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>/s/ Michael T. Speetzen</i>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td valign="top" style="width: 50%; text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Michael T. Speetzen
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td valign="top" style="width: 50%; text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Executive Vice President &#8211; Finance and
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Chief Financial Officer of Polaris Industries Inc.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>

    </p>
  </body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51886476ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
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    <title></title>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p>
      CONTACT:<br>Polaris Industries Inc.<br>Investor Contact:<br>Richard
      Edwards, 763-513-3477<br>or<br>Media Contact:<br>Jess Rogers,
      763-513-3445
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Polaris
      Reports 2018 Third Quarter Results</b></font>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Q3 2018
      Highlights</b></font>
    </p>
    <p>
      <u><i><font style="font-family: Times New Roman; font-size: 12pt"><b>Reported
      and adjusted sales</b></font></i></u><i><b><font style="font-family: Times New Roman; font-size: 12pt">
      for the third quarter of 2018 increased 12% to $1,651 million and $1,653
      million, respectively</font></b></i>
    </p>
    <p>
      <u><i><font style="font-family: Times New Roman; font-size: 12pt"><b>Reported
      net income</b></font></i></u><i><b><font style="font-family: Times New Roman; font-size: 12pt">
      was $1.50 per diluted share, up 17% over the prior year; adjusted net
      income for the same period was $1.86 per diluted share, up 22% over the
      prior year</font></b></i>
    </p>
    <p>
      <u><i><font style="font-family: Times New Roman; font-size: 12pt"><b>North
      American retail sales</b></font></i></u><i><b><font style="font-family: Times New Roman; font-size: 12pt">
      increased 1% for the quarter compared to a strong 13% increase last
      year; ORV N.A. retail sales were up low single-digits driven by
      side-by-side vehicles</font></b></i>
    </p>
    <p>
      <u><i><font style="font-family: Times New Roman; font-size: 12pt"><b>Dealer
      inventory</b></font></i></u><i><b><font style="font-family: Times New Roman; font-size: 12pt">
      was up 6% year-over-year for the third quarter 2018, in line with
      expectations</font></b></i>
    </p>
    <p>
      <u><i><font style="font-family: Times New Roman; font-size: 12pt"><b>Polaris
      maintaining full year 2018 adjusted sales and earnings guidance</b></font></i></u><i><b><font style="font-family: Times New Roman; font-size: 12pt">
      with full year adjusted sales in the range of 11% to 12% over the prior
      year and</font></b></i><b><font style="font-family: Times New Roman; font-size: 12pt">
      </font><i><font style="font-family: Times New Roman; font-size: 12pt">full
      year </font><u><font style="font-family: Times New Roman; font-size: 12pt">adjusted
      earnings</font></u><font style="font-family: Times New Roman; font-size: 12pt">
      in the range of $6.48 to $6.58 per diluted share which includes the
      absorption of an estimated $40 million of tariff cost increases
      anticipated in 2018 before counter-measures.</font></i></b>
    </p>
    <p>
      MINNEAPOLIS--(BUSINESS WIRE)--October 22, 2018--Polaris Industries Inc.
      (NYSE: PII):
    </p>
    <p>
      (Downloadable PDF of this press release)
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Key Financial Data</b>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (in thousands, except per share data)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; padding-bottom: 2.0px">
          <b>INCOME STATEMENT - Q3 September 30, 2018</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" valign="middle" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black">
          <b>Reported</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="middle" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>YOY % Chg.</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" valign="middle" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black">
          <b>Adjusted*</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="middle" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>YOY % Chg.</b>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          Sales
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,651,415
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          12%
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,653,130
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          12%
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Net income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          95,529
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          17%
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          117,926
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          21%
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Diluted EPS
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          1.50
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          17%
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          1.86
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          22%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <b>BALANCE SHEET - Q3 September 30, 2018</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" valign="middle" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black">
          <b>Reported</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="middle" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black">
          <b>YOY % Chg.</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          183,411
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          39%
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          Inventories, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,019,517
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          21%
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          Total debt, capital lease obligations and notes payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,864,327
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          103%
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          Shareholders' equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          898,252
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <b>CASH FLOW - YTD September 30, 2018</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" valign="middle" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black">
          <b>Reported</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="middle" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black">
          <b>YOY % Chg.</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          Net cash provided by operating activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          354,138
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (29)%
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          Purchase of property &amp; equipment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          157,763
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          25%
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          Repurchase and retirement of common shares
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          246,931
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          178%
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          Cash dividends to shareholders
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          112,748
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          4%
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          Acquisition of businesses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          729,925
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          NM
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          <i>NM = Not meaningful</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="17" valign="bottom" style="text-align: left; padding-left: 0.0px">
          <i>Note: the results and guidance in this release, including the
          highlights above, include references to non-GAAP operating measures,
          which are identified by the word &#8220;adjusted&#8221; preceding the measure.
          *A reconciliation of GAAP / non-GAAP measures can be found at the
          end of this release.</i>
        </td>
      </tr>
      <tr>
        <td colspan="17">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <b>CEO Commentary</b>
    </p>
    <p>
      &#8220;The dedication and strong execution of our Polaris team continued to
      drive broad based growth across the business in the third quarter. Our
      model year '19 product news was well received and our improving
      manufacturing and logistics performance accelerated the successful
      roll-out of RFM for side-by-sides. International growth again outpaced
      North America, with Indian market share gains continuing in every market
      we serve. We were also pleased with the early performance of Boat
      Holdings, the largest manufacturer of pontoon boats in the U.S. that we
      welcomed to our growing Powersports portfolio earlier in the quarter.
      Our commitment to customers and investments in the U.S. remain strong,
      as we broke ground on a new multi-product PG&amp;A and aftermarket
      distribution center in Nevada. We are strategically and tactically
      committed to being a customer-centric, highly efficient growth company,
      and our investments demonstrate that commitment. Our goals do not
      eliminate or even diminish the serious challenges we face from tariffs,
      but they certainly increase our resolve to find acceptable solutions or
      offsets. We are making too much progress with our supply chain, safety
      and quality and innovation initiatives to have the benefits wiped out by
      protracted trade negotiations. The challenge is real, and so are our
      efforts to overcome them. We remain well-positioned with a world-class
      team and product line-up and are confident in our ability to deliver
      strong financial and operational performance in the quarter and years
      ahead.&#8221;
    </p>
    <p style="text-align: right">
      <i>-- Scott Wine, Chairman and Chief Executive Officer of Polaris
      Industries Inc.</i>
    </p>
    <div style="margin-left: 0pt; margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="12">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Third Quarter Performance Summary (Reported)</b>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="12">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="12">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; padding-bottom: 2.0px">
          (in thousands, except per share data)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="12" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>Three months ended September 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2018</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2017</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black">
          <b>Change</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <b>Sales</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>1,651,415</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>1,478,726</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>12</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <b>Gross profit</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>401,270</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>363,962</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>10</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          <i>% of Sales</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>24.3</i>
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>24.6</i>
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="top" style="text-align: right">
          <i>-31 bpts</i>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <b>Total operating expenses</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>283,749</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>265,192</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>7</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          <i>% of Sales</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>17.2</i>
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>17.9</i>
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="top" style="text-align: right">
          <i>-75 bpts</i>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <b>Income from financial services</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>21,348</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>18,138</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>18</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          <i>% of Sales</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>1.3</i>
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>1.2</i>
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="top" style="text-align: right">
          <i>+7 bpts</i>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <b>Operating income</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>138,869</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>116,908</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>19</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          <i>% of Sales</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>8.4</i>
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>7.9</i>
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="top" style="text-align: right">
          <i>+50 bpts</i>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          <b>Net income</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>95,529</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>81,888</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>17</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: left; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          <i>% of Sales</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>5.8</i>
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>5.5</i>
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="top" style="text-align: right">
          <i>+25 bpts</i>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          <b>Diluted net income per share</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>1.50</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>1.28</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>17</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: left; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      Polaris Industries Inc. (NYSE: PII) today reported third quarter 2018
      sales of $1,651 million, up 12 percent from $1,479 million for the third
      quarter of 2017. Adjusted sales for the third quarter of 2018 were
      $1,653 million, up 12 percent from the prior year period. The Boat
      Holdings, LLC (&quot;Boat Holdings&quot;) acquisition added $134 million of sales
      in the third quarter. The Company reported third quarter 2018 net income
      of $96 million, or $1.50 per diluted share, compared with net income of
      $82 million, or $1.28 per diluted share, for the 2017 third quarter.
      Adjusted net income for the quarter ended September&#160;30, 2018 was $118
      million, or $1.86 per diluted share, up 21 percent and 22 percent
      respectfully, compared to $98 million, or $1.52 per diluted share in the
      2017 third quarter.
    </p>
    <p>
      <b>Gross profit</b> increased 10 percent to $401 million for the third
      quarter of 2018 from $364 million in the third quarter of 2017. Reported
      gross profit margin was 24.3 percent of sales for the third quarter of
      2018 compared to 24.6 percent of sales for the third quarter of 2017.
      Gross profit for the third quarter of 2018 includes the negative impact
      of $8 million of Victory Motorcycles<sup>&#174;</sup> wind-down costs,
      acquisition-related costs for the acquisition of Boat Holdings and
      realignment and restructuring costs. Excluding these items, third
      quarter 2018 adjusted gross profit was $410 million, or 24.8 percent of
      adjusted sales. For the third quarter of 2017 adjusted gross profit of
      $378 million, or 25.5 percent of adjusted sales, excludes the negative
      impact of $14 million in Victory Motorcycles wind down costs and other
      restructuring and realignment costs. Gross profit margins on an adjusted
      basis were down slightly primarily due to mix and the impact of tariff,
      commodity and freight cost pressures during the quarter, partially
      offset by lower warranty and promotional costs.
    </p>
    <p>
      <b>Operating expenses</b> increased seven percent for the third quarter
      of 2018 to $284 million, or 17.2 percent of sales, from $265 million, or
      17.9 percent of sales, in the same period in 2017. Operating expenses in
      dollars increased primarily due to the Boat Holdings acquisition
      completed during the quarter and investments in strategic projects.
      Operating expenses as a percentage of sales, improved as the Company
      realized efficiencies through its selling, marketing and general and
      administrative spend along with the addition of Boat Holdings which
      inherently has a lower operating expense to sales ratio.
    </p>
    <p>
      <b>Income from financial services</b> was $21 million for the third
      quarter of 2018, up 18 percent compared with $18 million for the third
      quarter of 2017. The increase is attributable to higher retail demand
      and penetration rates along with increased income from Polaris
      Acceptance as dealer inventories were at more appropriate levels to meet
      demand.
    </p>
    <div style="margin-left: 0pt; margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="12">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Non-Operating Expenses (Reported)</b>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="12">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="12">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; padding-bottom: 2.0px">
          (in thousands)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="12" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>Three months ended September 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2018</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2017</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black">
          <b>Change</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Interest expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          19,823
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          8,492
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          133
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          %
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Equity in loss of other affiliates
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          111
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,603
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (93
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Other expense (income), net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (4,124
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (2,368
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          74
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          %
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Provision for income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          27,530
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          27,293
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <b>Interest expense </b>was $20 million for the third quarter of 2018
      compared to $8 million for the same period last year, primarily due to
      increased debt levels to finance the Boat Holdings acquisition.
    </p>
    <p>
      <b>Other expense (income), net</b>, was $4 million and $2 million of
      income in the third quarter of 2018 and 2017, respectively, resulting
      from foreign currency exchange rate movements and the corresponding
      effects on foreign currency transactions related to the Company&#8217;s
      foreign subsidiaries.
    </p>
    <p>
      <b>The provision for income taxes </b>for the third quarter of 2018 was
      $28 million, or 22.4 percent of pretax income, compared with $27
      million, or 25.0 percent of pretax income for the third quarter of 2017.
      The decrease in the effective income tax rate is primarily due to the
      reduction in the federal statutory tax rate to 21 percent as a result of
      U.S. Tax Reform offset by a decrease in excess tax benefits related to
      stock based compensation compared to the prior year.
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="12">

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="12">

        </td>
      </tr>
      <tr>
        <td colspan="15" valign="top" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Product Segment Highlights (Reported)</b>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="12">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="12">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="12">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; padding-bottom: 2.0px">
          (in thousands)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="12" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black">
          <b>Sales</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="12" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>Gross Profit</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>Q3 2018</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>Q3 2017</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black">
          <b>Change</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>Q3 2018</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>Q3 2017</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black">
          <b>Change</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Off-Road Vehicles / Snowmobiles
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,035,554
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,007,392
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          3
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          290,631
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          296,904
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (2
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Motorcycles
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          155,316
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          155,059
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          19,577
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          10,354
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          89
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          %
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Global Adjacent Markets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          96,251
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          91,575
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          5
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          24,155
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          15,983
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          51
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          %
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Aftermarket
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          229,973
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          224,700
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          2
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          66,092
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          63,239
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          5
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          %
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Boats
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          134,321
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          20,253
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <u><b>Off-Road Vehicle (&#8220;ORV&#8221;) and Snowmobile</b></u>
      segment sales, including PG&amp;A, totaled $1,036 million for the third
      quarter of 2018, up three percent over $1,007 million for the third
      quarter of 2017 driven by growth across most categories. PG&amp;A sales for
      ORV and Snowmobiles combined increased 12 percent in the 2018 third
      quarter compared to the third quarter last year. Gross profit decreased
      two percent to $291 million in the third quarter of 2018, compared to
      $297 million in the third quarter of 2017.
    </p>
    <p style="margin-left: 30.0px">
      <b>ORV </b>wholegood<b> </b>sales for the third quarter of 2018
      increased 12 percent primarily driven by strong <i>RANGER</i> and ATV
      shipments. Polaris North American ORV retail sales increased low-single
      digits percent for the quarter with side-by-side vehicles up low-single
      digits percent and ATV vehicles down low-single digits percent. ATVs
      again gained market share during the quarter. The Company experienced a
      modest amount of market share loss for side-by-sides due to a very
      difficult comparable in the third quarter of 2017. The North American
      ORV industry was up low-single digits percent compared to the third
      quarter last year.
    </p>
    <p style="margin-left: 30.0px">
      <b>Snowmobile</b> wholegood sales in the third quarter of 2018 was $69
      million compared to $144 million in the third quarter last year.
      Snowmobile sales are expected to be more heavily weighted towards the
      fourth quarter of 2018 due to the timing of shipments for the Company's
      pre-season snowmobile orders.
    </p>
    <p>
      <u><b>Motorcycle</b></u><b> </b>segment sales, including PG&amp;A, totaled
      $155 million, which were flat compared to the third quarter of 2017.
      Gross profit for the third quarter of 2018 was $20 million compared to
      $10 million in the third quarter of 2017. Adjusted for the Victory
      wind-down costs recorded in both the 2018 and 2017 third quarters,
      motorcycle gross profit was $21 million in the 2018 third quarter
      compared to $18 million for the 2017 third quarter.
    </p>
    <p>
      North American consumer retail sales for the Polaris motorcycle segment,
      including both Indian Motorcycle and Slingshot, decreased high-single
      digits during the 2018 third quarter. Indian Motorcycle retail sales
      increased low-single digits, in spite of an overall weak N.A. motorcycle
      market. Slingshot's retail sales were down during the quarter.
      Motorcycle industry retail sales, 900cc and above, were down low-teens
      percent in the 2018 third quarter. Indian Motorcycle gained market share
      for the 2018 third quarter on a year-over-year basis.
    </p>
    <div style="margin-left: 0pt; margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <u><b>Global Adjacent Markets</b></u><b> </b>segment sales, including
      PG&amp;A, increased five percent to $96 million in the 2018 third quarter
      compared to $92 million in the 2017 third quarter. Reported gross profit
      increased 51 percent to $24 million in the third quarter of 2018,
      compared to $16 million in the third quarter of 2017. Adjusted gross
      profit increased nine percent to $24 million in the third quarter of
      2018, compared to $22 million in the third quarter of 2017.
    </p>
    <p>
      <u><b>Aftermarket</b></u><b> </b>segment sales increased two percent to
      $230 million in the 2018 third quarter compared to $225 million in the
      2017 third quarter driven by the Company's powersports aftermarket
      brands. TAP sales in the third quarter of 2018 were $189 million, which
      was down slightly compared to the third quarter of 2017. TAP sales were
      impacted by delayed accessory development work and weakness in
      business-to-business sales in the South/Southwest. Gross profit
      increased to $66 million in the third quarter of 2018, compared to $63
      million in the third quarter of 2017.
    </p>
    <p>
      <u><b>Boats</b></u> segment sales, which consist of the Boat Holdings
      acquisition that closed July 2, 2018, were $134 million in the 2018
      third quarter, slightly better than expectations. Reported gross profit
      was $20 million or 15.1 percent of sales in the third quarter of 2018.
      Adjusted gross profit, which excludes integration costs and purchase
      accounting, was $23 million or 17.4 percent of sales in the third
      quarter of 2018.
    </p>
    <p>
      <u><i><b>Supplemental Data</b></i></u><i><b>:</b></i>
    </p>
    <p style="margin-left: 30.0px">
      <i><b>Parts, Garments, and Accessories (&#8220;PG&amp;A&#8221;)</b></i><b>
      </b>sales increased eight percent for the 2018 third quarter primarily
      driven by growth in ORV.
    </p>
    <p style="margin-left: 30.0px">
      <i><b>International </b></i>sales to customers outside of North America,
      including PG&amp;A, totaled $172 million for the third quarter of 2018, up
      10 percent, from the same period in 2017. Foreign exchange movements
      reduced sales by three percent for the quarter. The increase was driven
      by strong sales in snowmobiles and motorcycles.
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="12">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Financial Position and Cash Flow</b>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="12">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="12">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; padding-bottom: 2.0px">
          (in thousands)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="12" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>Nine Months ended September 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2018</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2017</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black">
          <b>Change</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          183,411
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          132,260
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; padding-bottom: 2.0px">
          <i>39</i>
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; padding-bottom: 2.0px">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Net cash provided by operating activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          354,138
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          497,095
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; padding-bottom: 2.0px">
          (29
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; padding-bottom: 2.0px">
          )%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Repurchase and retirement of common shares
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          246,931
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          88,877
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; padding-bottom: 2.0px">
          <i>178</i>
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; padding-bottom: 2.0px">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Cash dividends to shareholders
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          112,748
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; padding-bottom: 2.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; padding-bottom: 2.0px">
          108,923
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; padding-bottom: 2.0px">
          <i>4</i>
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; padding-bottom: 2.0px">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Acquisition of businesses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          729,925
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          (1,645
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; padding-bottom: 2.0px">
          <i>NM</i>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Total debt, capital lease obligations and notes payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,864,327
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          919,984
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>103</i>
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          <i>Debt to Total Capital Ratio</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>67</i>
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>51</i>
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          <i>NM = Not meaningful</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <b>Net cash provided by operating activities </b>was $354 million for
      the nine months ended September&#160;30, 2018, compared to $497 million for
      the same period in 2017. The decrease in net cash provided by operating
      activities for the 2018 period was due to the timing of accrual payments
      and higher factory inventory needed for ongoing refinement of retail
      flow management (&quot;RFM&quot;). Total debt at September&#160;30, 2018, including
      capital lease obligations and notes payable, was $1,864 million. The
      Company&#8217;s debt-to-total capital ratio was 67 percent at September&#160;30,
      2018 compared to 51 percent at September&#160;30, 2017. Cash and cash
      equivalents were $183 million at September&#160;30, 2018, up from $132
      million at September&#160;30, 2017.
    </p>
    <p>
      <b>Share Buyback Activity: </b>During the third quarter of 2018, the
      Company repurchased 507,000 shares of its common stock for $55 million.
      Year-to-date through September&#160;30, 2018, the Company has repurchased
      2,069,000 shares of its common stock for $247 million. As of
      September&#160;30, 2018, the Company has authorization from its Board of
      Directors to repurchase up to an additional 4.4 million shares of
      Polaris common stock.
    </p>
    <div style="margin-left: 0pt; margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>2018 Business Outlook</b>
    </p>
    <p>
      The Company is maintaining its adjusted sales and earnings guidance for
      the full year 2018. Adjusted sales are expected to increase in the range
      of 11 percent to 12 percent over 2017 adjusted sales of $5,428 million
      and adjusted net income is expected to be in the range of $6.48 to $6.58
      per diluted share for the full year 2018 compared to adjusted net income
      of $5.10 per diluted share for 2017. The Company is maintaining its
      current sales and earnings per share guidance ranges given the fluid
      nature of tariffs and the potential impact of trade negotiations and a
      more difficult motorcycle environment, which is impacting growth and
      profitability for that segment. The full year earnings guidance includes
      approximately $40 million of tariff cost increases before
      counter-measures, as the Company understands them today.
    </p>
    <p>
      <b>Non-GAAP Financial Measures</b>
    </p>
    <p>
      This press release and our related earnings call contain certain
      non-GAAP financial measures, consisting of &#8220;adjusted&#8221; sales, gross
      profit, income before taxes, net income and net income per diluted share
      as measures of our operating performance. Management believes these
      measures may be useful in performing meaningful comparisons of past and
      present operating results, to understand the performance of its ongoing
      operations and how management views the business. Reconciliations of
      adjusted non-GAAP measures to reported GAAP measures are included in the
      financial schedules contained in this press release. These measures,
      however, should not be construed as an alternative to any other measure
      of performance determined in accordance with GAAP.
    </p>
    <p>
      <b>Investor Conference Call</b>
    </p>
    <p>
      <b>Third Quarter 2018 Earnings Conference Call and Webcast Presentation</b>
    </p>
    <p>
      Today at 10:00 AM (CDT) Polaris Industries Inc. will host a conference
      call and webcast to discuss the 2018 third quarter results released this
      morning. The call will be hosted by Scott Wine, Chairman and CEO; and
      Mike Speetzen, Executive Vice President - Finance and CFO. A slide
      presentation and link to the webcast will be posted on the Polaris
      Investor Relations website at ir.polaris.com. To listen to the
      conference call by phone, dial 1-877-883-0383 in the U.S., or
      1-412-902-6506 internationally. The Conference ID is 1886245. A replay
      of the conference call will be available by accessing the same link on
      our website.
    </p>
    <p>
      <b>About Polaris</b>
    </p>
    <p>
      Polaris Industries Inc. (NYSE: PII) is a global powersports leader that
      has been fueling the passion of riders, workers and outdoor enthusiasts
      for more than 60 years. With annual 2017 sales of $5.4 billion, Polaris&#8217;
      innovative, high-quality product line-up includes the <i>RANGER</i><sup>&#174;</sup>,
      <i>RZR</i><sup>&#174;</sup> and Polaris GENERAL&#8482; side-by-side off-road
      vehicles; the Sportsman<sup>&#174;</sup> and Polaris ACE<sup>&#174;</sup>
      all-terrain off-road vehicles; Indian Motorcycle<sup>&#174;</sup>
      mid-size and heavyweight motorcycles; Slingshot<sup>&#174;</sup>
      moto-roadsters; snowmobiles; and pontoon, deck, and cruiser boats.
      Polaris enhances the riding experience with parts, garments and
      accessories, along with a growing aftermarket portfolio, including
      Transamerican Auto Parts. Polaris&#8217; presence in adjacent markets globally
      includes military and commercial off-road vehicles, quadricycles, and
      electric vehicles. Proudly headquartered in Minnesota, Polaris serves
      more than 100 countries across the globe. Visit&#160;<u>www.polaris.com</u>
      for more information.
    </p>
    <p>
      <b>Forward-looking Statements</b>
    </p>
    <p>
      <i>Except for historical information contained herein, the matters set
      forth in this news release, including management&#8217;s expectations
      regarding 2018 future sales, shipments, net income, and net income per
      share, operational initiatives, impact of tax reform, and tariffs and
      commodity costs, are forward-looking statements that involve certain
      risks and uncertainties that could cause actual results to differ
      materially from those forward-looking statements.</i> <i>Potential risks
      and uncertainties include such factors as the Company&#8217;s ability to
      successfully implement its manufacturing operations expansion
      initiatives, product offerings, promotional activities and pricing
      strategies by competitors; economic conditions that impact consumer
      spending; acquisition integration costs; product recalls, warranty
      expenses; impact of changes in Polaris stock price on incentive
      compensation plan costs; foreign currency exchange rate fluctuations;
      environmental and product safety regulatory activity; effects of
      weather; commodity costs; freight and tariff costs; changes to
      international trade agreements; uninsured product liability claims;
      uncertainty in the retail and wholesale credit markets; performance of
      affiliate partners; changes in tax policy and overall economic
      conditions, including inflation, consumer confidence and spending and
      relationships with dealers and suppliers.</i> <i>Investors are also
      directed to consider other risks and uncertainties discussed in
      documents filed by the Company with the Securities and Exchange
      Commission.</i> <i>The Company does not undertake any duty to any person
      to provide updates to its forward-looking statements.</i>
    </p>
    <p style="text-align: center">
      (summarized financial data follows)
    </p>
    <div style="margin-left: 0pt; margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td colspan="20">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="20" valign="bottom" style="text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <b>CONSOLIDATED STATEMENTS OF INCOME</b>
        </td>
      </tr>
      <tr>
        <td colspan="20" valign="top" style="text-align: center; padding-right: 0.0px; white-space: nowrap">
          (In Thousands, Except Per Share Data) (Unaudited)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="8" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>Three months ended September 30,</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="7" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>Nine months ended September 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2018</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2018</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2017</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Sales
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,651,415
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,478,726
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          4,451,420
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          3,997,428
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Cost of sales
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          1,250,145
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          1,114,764
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          3,341,493
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          3,040,589
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Gross profit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          401,270
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          363,962
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,109,927
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          956,839
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Operating expenses:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Selling and marketing
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          128,929
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          122,642
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          369,495
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          355,486
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Research and development
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          64,181
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          63,129
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          197,741
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          175,887
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px; padding-bottom: 2.0px">
          General and administrative
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          90,639
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          79,421
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          262,206
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          245,998
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Total operating expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          283,749
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          265,192
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          829,442
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          777,371
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Income from financial services
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          21,348
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          18,138
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          64,117
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          57,711
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Operating income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          138,869
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          116,908
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          344,602
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          237,179
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Non-operating expense:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Interest expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          19,823
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          8,492
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          37,087
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          24,438
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Equity in loss of other affiliates
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          111
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,603
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          25,576
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          4,839
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px; padding-bottom: 2.0px">
          Other expense (income), net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          (4,124
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          (2,368
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          (27,660
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          7,088
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Income before income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          123,059
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          109,181
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          309,599
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          200,814
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Provision for income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          27,530
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          27,293
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          65,816
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          59,796
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Net income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          95,529
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          81,888
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          243,783
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          141,018
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Net income per share:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px; padding-bottom: 4.0px">
          Basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          1.54
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          1.31
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          3.88
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          2.24
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px; padding-bottom: 4.0px">
          Diluted
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          1.50
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          1.28
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          3.78
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          2.21
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Weighted average shares outstanding:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          62,207
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          62,646
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          62,894
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          62,890
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Diluted
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          63,546
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          63,885
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          64,550
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          63,942
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td colspan="10">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="10" valign="bottom" style="text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <b>CONSOLIDATED BALANCE SHEETS</b>
        </td>
      </tr>
      <tr>
        <td colspan="10" valign="bottom" style="text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (In Thousands), (Unaudited)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" valign="bottom" style="text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <b>September 30,</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <b>September 30,</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2018</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px">

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2017</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Current Assets:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          183,411
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          132,260
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Trade receivables, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          217,694
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          184,074
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Inventories, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,019,517
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          841,922
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Prepaid expenses and other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          105,066
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          80,859
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px; padding-bottom: 2.0px">
          Income taxes receivable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          5,865
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          9,535
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Total current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,531,553
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,248,650
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Property and equipment, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          807,511
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          735,441
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Investment in finance affiliate
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          88,790
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          70,910
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Deferred tax assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          116,447
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          191,287
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Goodwill and other intangible assets, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,515,431
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          784,616
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Other long-term assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          88,299
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          102,162
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Total assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          4,148,031
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          3,133,066
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Liabilities and Shareholders&#8217; Equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Current Liabilities:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Current portion of debt, capital lease obligations and notes payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          66,595
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          27,835
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Accounts payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          436,401
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          385,858
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Accrued expenses:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 30.0px">
          Compensation
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          160,033
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          148,280
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 30.0px">
          Warranties
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          122,544
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          112,085
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 30.0px">
          Sales promotions and incentives
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          187,307
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          192,568
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 30.0px">
          Dealer holdback
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          124,259
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          117,934
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 30.0px">
          Other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          179,738
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          183,030
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px; padding-bottom: 2.0px">
          Income taxes payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          8,963
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          27,448
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Total current liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,285,840
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,195,038
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Long term income taxes payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          26,805
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          22,036
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Capital lease obligations
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          16,712
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          18,451
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Long-term debt
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,781,020
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          873,698
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Deferred tax liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          7,054
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          9,366
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Other long-term liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          122,728
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          107,182
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Total liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          3,240,159
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          2,225,771
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Deferred compensation
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          9,620
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          11,331
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Shareholders&#8217; equity:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Total shareholders&#8217; equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          898,252
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          895,964
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Total liabilities and shareholders&#8217; equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          4,148,031
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          3,133,066
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td colspan="11">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="11" valign="bottom" style="text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <b>CONSOLIDATED STATEMENTS OF CASH FLOWS</b>
        </td>
      </tr>
      <tr>
        <td colspan="11" valign="bottom" style="text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (In Thousands), (Unaudited)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="8" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>Nine months ended September 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2018</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2017</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          <b>Operating Activities:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Net income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          243,783
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          141,018
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Adjustments to reconcile net income to net cash provided by
          operating activities:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 30.0px">
          Depreciation and amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          155,910
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          138,105
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 30.0px">
          Noncash compensation
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          43,219
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          34,249
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 30.0px">
          Noncash income from financial services
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (22,232
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (20,131
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 30.0px">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (4,171
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (2,703
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 30.0px">
          Impairment charges
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          21,716
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          25,395
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 30.0px">
          Other, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (9,618
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          4,839
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 30.0px">
          Changes in operating assets and liabilities:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 45.0px">
          Trade receivables
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (991
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (447
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 45.0px">
          Inventories
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (201,229
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (83,621
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 45.0px">
          Accounts payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          90,842
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          108,198
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 45.0px">
          Accrued expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,620
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          80,949
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 45.0px">
          Income taxes payable/receivable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          28,715
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          62,336
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 45.0px; padding-bottom: 2.0px">
          Prepaid expenses and others, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          6,574
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          8,908
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Net cash provided by operating activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          354,138
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          497,095
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          <b>Investing Activities:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Purchase of property and equipment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (157,763
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (126,647
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Investment in finance affiliate, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          22,207
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          43,230
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Investment in other affiliates, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          7,366
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (7,110
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px; padding-bottom: 2.0px">
          Acquisition and disposal of businesses, net of cash acquired
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          (729,925
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          1,645
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Net cash used for investing activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (858,115
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (88,882
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          <b>Financing Activities:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 15.0px">
          Borrowings under debt arrangements / capital lease obligations
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          2,845,688
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,623,577
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 15.0px">
          Repayments under debt arrangements / capital lease obligations
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (1,970,701
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (1,850,247
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 15.0px">
          Repurchase and retirement of common shares
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (246,931
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (88,877
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 15.0px">
          Cash dividends to shareholders
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (112,748
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (108,923
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 15.0px; padding-bottom: 2.0px">
          Proceeds from stock issuances under employee plans
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          47,158
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          14,226
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          Net cash provided by (used for) financing activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          562,466
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (410,244
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Impact of currency exchange rates on cash balances
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          (5,904
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          9,597
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          <b>Net increase in cash, cash equivalents and restricted cash</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          52,585
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          7,566
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Cash, cash equivalents and restricted cash at beginning of period
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          161,618
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          145,170
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          <b>Cash, cash equivalents and restricted cash at end of period</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          214,203
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          152,736
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          <b>Cash, cash equivalents and restricted cash by category:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 5.0px">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          183,411
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          132,260
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 5.0px; padding-bottom: 2.0px">
          Other long-term assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          30,792
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          20,476
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px; padding-bottom: 4.0px">
          Total
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          214,203
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          152,736
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td colspan="20">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="20" valign="bottom" style="text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <b>NON-GAAP RECONCILIATION OF RESULTS</b>
        </td>
      </tr>
      <tr>
        <td colspan="20" valign="bottom" style="text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (In Thousands, Except Per Share Data), (Unaudited)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="8" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>Three months ended September 30,</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="7" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>Nine months ended September 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2018</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2018</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2017</b>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          <b>Sales</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,651,415
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,478,726
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          4,451,420
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          3,997,428
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px">
          Victory wind down <sup>(1)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,055
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,560
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,304
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          507
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px">
          Restructuring &amp; realignment <sup>(3)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          660
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          2,789
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          <b>Adjusted sales</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,653,130
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,480,286
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          4,455,513
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          3,997,935
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          <b>Gross profit</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          401,270
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          363,962
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,109,927
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          956,839
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px">
          Victory wind down <sup>(1)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,239
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          7,555
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          417
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          54,970
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px">
          Acquisition-related costs <sup>(2)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          3,130
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          3,130
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          12,950
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px">
          Restructuring &amp; realignment <sup>(3)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          4,128
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          6,214
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          15,965
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          10,517
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          <b>Adjusted gross profit</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          409,767
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          377,731
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,129,439
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,035,276
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          <b>Income (loss) before taxes</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          123,059
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          109,181
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          309,599
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          200,814
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px">
          Victory wind down <sup>(1)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,514
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          8,809
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,757
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          77,240
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px">
          Acquisition-related costs <sup>(2)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          8,989
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          3,492
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          16,798
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          23,459
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px">
          Restructuring &amp; realignment <sup>(3)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          4,671
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          6,214
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          22,564
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          10,517
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px">
          EPPL impairment <sup>(5)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          23,447
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px">
          Brammo <sup>(6)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (13,478
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px">
          Intangible amortization <sup>(7)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          10,403
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          6,344
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          22,591
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          18,772
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px">
          Other expenses <sup>(4)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          3,288
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          5,010
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          <b>Adjusted income before taxes</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          151,924
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          134,040
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          388,288
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          330,802
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          <b>Net income</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          95,529
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          81,888
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          243,783
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          141,018
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px">
          Victory wind down <sup>(1)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,154
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          5,537
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,339
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          53,378
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px">
          Acquisition-related costs <sup>(2)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          6,848
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          2,195
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          12,799
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          14,746
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px">
          Restructuring &amp; realignment <sup>(3)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          3,559
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          3,906
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          17,192
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          6,611
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px">
          EPPL impairment <sup>(5)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          22,325
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px">
          Brammo <sup>(6)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (13,113
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px">
          Intangible amortization <sup>(7)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          7,763
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          4,030
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          16,708
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          11,933
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px">
          Other expenses <sup>(4)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          3,073
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          5,110
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          <b>Adjusted net income <sup>(8)</sup></b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          117,926
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          97,556
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          306,143
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          227,686
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          <b>Diluted EPS</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1.50
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1.28
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          3.78
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          2.21
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px">
          Victory wind down <sup>(1)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          0.02
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          0.09
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          0.02
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          0.83
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px">
          Acquisition-related costs <sup>(2)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          0.11
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          0.03
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          0.20
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          0.23
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px">
          Restructuring &amp; realignment <sup>(3)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          0.06
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          0.06
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          0.26
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          0.10
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px">
          EPPL impairment <sup>(5)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          0.34
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px">
          Brammo <sup>(6)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (0.20
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px">
          Intangible amortization <sup>(7)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          0.12
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          0.06
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          0.26
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          0.19
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px">
          Other expenses <sup>(4)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          0.05
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          0.08
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          <b>Adjusted EPS <sup>(8)</sup></b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          1.86
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          1.52
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          4.74
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          3.56
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="20" valign="middle" style="text-align: left; padding-left: 0.0px">
          <sup>(1)</sup> Represents adjustments for the wind down of Victory
          Motorcycles, including wholegoods, accessories and apparel
        </td>
      </tr>
      <tr>
        <td colspan="20" valign="middle" style="text-align: left; padding-left: 0.0px">
          <sup>(2)</sup> Represents adjustments for integration and
          acquisition-related expenses and purchase accounting adjustments
        </td>
      </tr>
      <tr>
        <td colspan="20" valign="middle" style="text-align: left; padding-left: 0.0px">
          <sup>(3)</sup> Represents adjustments for corporate restructuring,
          network realignment costs, and supply chain transformation
        </td>
      </tr>
      <tr>
        <td colspan="20" valign="middle" style="text-align: left; padding-left: 0.0px">
          <sup>(4)</sup> Represents adjustments for the impacts of tax reform
          and non-recurring litigation expenses
        </td>
      </tr>
      <tr>
        <td colspan="20" valign="middle" style="text-align: left; padding-left: 0.0px">
          <sup>(5)</sup> Represents adjustments for the impairment of the
          Company's equity investment in Eicher-Polaris Private Limited
          (EPPL). This charge is included in Equity in loss of other
          affiliates (non-operating) on the Consolidated Statements of Income.
        </td>
      </tr>
      <tr>
        <td colspan="20" valign="middle" style="text-align: left; padding-left: 0.0px">
          <sup>(6) </sup>Represents a gain on the Company's investment in
          Brammo, Inc. This gain is included in Other income (non-operating)
          on the Consolidated Statements of Income.
        </td>
      </tr>
      <tr>
        <td colspan="20" valign="middle" style="text-align: left; padding-left: 0.0px">
          <sup>(7)</sup> Represents amortization expense for
          acquisition-related intangible assets
        </td>
      </tr>
      <tr>
        <td colspan="20" valign="middle" style="text-align: left; padding-left: 0.0px">
          <sup>(8)</sup> The Company used its estimated statutory tax rate of
          23.8% and 37.1% for the non-GAAP adjustments in 2018 and 2017,
          respectively, except for the non-deductible items and the tax reform
          related changes noted in Item 4
        </td>
      </tr>
      <tr>
        <td colspan="20">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 8pt" cellspacing="0">
      <tr>
        <td colspan="21">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="21" valign="middle" style="text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <b>NON-GAAP RECONCILIATION OF SEGMENT RESULTS</b>
        </td>
      </tr>
      <tr>
        <td colspan="21" valign="middle" style="text-align: center; padding-right: 0.0px; white-space: nowrap">
          (In Thousands), (Unaudited)
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="8" valign="middle" style="text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <b>Three months ended</b>
        </td>
        <td valign="middle" style="text-align: center; padding-left: 0.0px">
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="8" valign="middle" style="text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <b>Nine months ended</b>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="8" valign="middle" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>September 30,</b>
        </td>
        <td valign="middle" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px">

        </td>
        <td>

        </td>
        <td colspan="8" valign="middle" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>September 30,</b>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>SEGMENT SALES</b></u>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2018</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2018</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2017</b>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          <b>ORV/Snow segment sales</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,035,554
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,007,392
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          2,858,959
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          2,577,003
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px">
          Restructuring &amp; realignment <sup>(3)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          660
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          2,789
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          Adjusted ORV/Snow segment sales
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,036,214
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,007,392
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          2,861,748
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          2,577,003
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          <b>Motorcycles segment sales</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          155,316
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          155,059
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          458,285
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          473,345
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px">
          Victory wind down <sup>(1)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          1,055
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          1,560
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          1,304
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          507
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          Adjusted Motorcycles segment sales
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          156,371
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          156,619
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          459,589
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          473,852
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          <b>Global Adjacent Markets (GAM) segment sales</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          96,251
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          91,575
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          322,996
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          280,152
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px">
          No adjustment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          Adjusted GAM segment sales
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          96,251
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          91,575
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          322,996
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          280,152
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          <b>Aftermarket segment sales</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          229,973
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          224,700
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          676,859
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          666,928
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px">
          No adjustment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          Adjusted Aftermarket sales
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          229,973
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          224,700
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          676,859
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          666,928
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          <b>Boats segment sales</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          134,321
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          134,321
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px">
          No adjustment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          Adjusted Boats sales
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          134,321
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          134,321
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          <b>Total sales</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,651,415
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,478,726
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          4,451,420
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          3,997,428
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px">
          Total adjustments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          1,715
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          1,560
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          4,093
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          507
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Adjusted total sales
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          1,653,130
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          1,480,286
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          4,455,513
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          3,997,935
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="8" valign="middle" style="text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <b>Three months ended</b>
        </td>
        <td valign="middle" style="text-align: center; padding-left: 0.0px">

        </td>
        <td>

        </td>
        <td colspan="8" valign="middle" style="text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <b>Nine months ended</b>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="8" valign="middle" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>September 30,</b>
        </td>
        <td valign="middle" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px">

        </td>
        <td>

        </td>
        <td colspan="8" valign="middle" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>September 30,</b>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>SEGMENT GROSS PROFIT</b></u>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2018</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2018</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          <b>2017</b>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          <b>ORV/Snow segment gross profit</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          290,631
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          296,904
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          831,413
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          776,013
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px">
          Restructuring &amp; realignment <sup>(3)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          660
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          2,789
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          Adjusted ORV/Snow segment gross profit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          291,291
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          296,904
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          834,202
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          776,013
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          <b>Motorcycles segment gross profit</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          19,577
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          10,354
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          60,817
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          11,589
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px">
          Victory wind down <sup>(1)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,239
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          7,555
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          417
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          54,970
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px">
          Restructuring &amp; realignment <sup>(3)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          1,185
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          Adjusted Motorcycles segment gross profit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          20,816
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          17,909
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          62,419
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          66,559
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          <b>Global Adjacent Markets (GAM) segment gross profit</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          24,155
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          15,983
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          83,520
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          65,297
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px">
          Restructuring &amp; realignment <sup>(3)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          45
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          6,214
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          479
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          10,517
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          Adjusted GAM segment gross profit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          24,200
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          22,197
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          83,999
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          75,814
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          <b>Aftermarket segment gross profit</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          66,092
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          63,239
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          182,291
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          164,721
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px">
          Acquisition-related costs <sup>(2)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          12,950
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          Adjusted Aftermarket segment gross profit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          66,092
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          63,239
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          182,291
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          177,671
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          <b>Boats segment gross profit</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          20,253
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          20,253
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px">
          Acquisition-related costs <sup>(2)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          3,130
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          3,130
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          Boats segment gross profit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          23,383
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          23,383
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          <b>Corporate segment gross profit</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (19,438
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (22,518
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (68,367
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (60,781
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px">
          Restructuring &amp; realignment <sup>(3)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          3,423
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          11,512
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          Adjusted Corporate segment gross profit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (16,015
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (22,518
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (56,855
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          (60,781
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          <b>Total gross profit</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          401,270
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          363,962
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          1,109,927
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: right; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          956,839
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px">
          Total adjustments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          8,497
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          13,769
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          19,512
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          78,437
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Adjusted total gross profit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          409,767
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          377,731
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          1,129,439
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right; padding-right: 0.0px; padding-left: 0.0px; border-bottom-color: black; white-space: nowrap">
          1,035,276
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="21" valign="middle" style="text-align: left; padding-left: 0.0px">
          <sup>(1)</sup> Represents adjustments for the wind down of Victory
          Motorcycles, including wholegoods, accessories and apparel
        </td>
      </tr>
      <tr>
        <td colspan="21" valign="middle" style="text-align: left; padding-left: 0.0px">
          <sup>(2)</sup> Represents adjustments for integration expenses and
          purchase accounting adjustments
        </td>
      </tr>
      <tr>
        <td colspan="21" valign="middle" style="text-align: left; padding-left: 0.0px">
          <sup>(3)</sup> Represents adjustments for corporate restructuring,
          network realignment costs, and supply chain transformation
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">
      <b>NON-GAAP ADJUSTMENTS</b>
    </p>
    <p style="text-align: center">
      <b>2018 Third Quarter Results &amp; Full Year Guidance</b>
    </p>
    <p>
      <b>Wind Down of Victory Motorcycles</b><br>In 2017, Polaris announced
      its intention to wind down its Victory Motorcycles operations. The
      decision is expected to improve the long-term profitability of Polaris
      and its global motorcycle business, while materially improving the
      Company&#8217;s competitive position in the industry. The Company will record
      costs, expected to be approximately $80 million through 2018, associated
      with supporting Victory dealers in selling their remaining inventory,
      the disposal of factory inventory, tooling, and other physical assets,
      and the cancellation of various supplier arrangements. In 2017, the
      Company recorded pretax costs of $77 million. In the first three
      quarters of 2018, the Company recorded pretax costs of $2 million. These
      costs are excluded from Polaris&#8217; 2018 sales and earnings guidance on a
      non-GAAP basis.
    </p>
    <p>
      <b>Restructuring, Realignment and Supply Chain Transformation</b><br>Polaris
      announced in 2017 that it was making changes to its network to
      consolidate production and distribution of like products and better
      leverage plant capacity and embarked on a multi-phase supply chain
      transformation initiative to continue to leverage its supply chain as a
      strategic asset. Year-to-date ending September 30, 2018, the Company has
      recorded costs totaling $23 million related to the manufacturing and
      distribution network realignment and the supply chain transformation
      projects. In addition, the Company has recorded TAP and Boat Holdings
      integration and acquisition-related costs of $17 million for the
      year-to-date period ending September 30, 2018. The costs for these
      projects are excluded from Polaris&#8217; 2018 sales and earnings guidance on
      a non-GAAP basis.
    </p>
    <p>
      <b>Eicher-Polaris Joint Venture Impairment in India</b><br>Regulatory
      changes have negatively impacted the likelihood of success of the joint
      venture, and as a result, in late-February 2018, the Board of Directors
      of the joint venture approved the wind-down of the joint venture.
      Year-to-date ended September 30, 2018, Polaris has recorded charges
      totaling $23 million, including the impairment of the Company's equity
      investment in the Eicher-Polaris joint venture in India and wind down
      costs.
    </p>
    <p>
      <b>Intangible amortization related to acquisitions</b><br>As a result of
      the Boat Holdings acquisition, Polaris' amortization of intangible
      assets will increase by approximately $20 million on an annual basis.
      Given the significant increase in non-cash amortization associated with
      this acquisition along with intangible amortization from prior
      acquisitions, the Company has moved to an adjusted net income metric,
      excluding intangible amortization from all acquisitions including prior
      year acquisitions of approximately $24 million for full year 2018. The
      Company believes this treatment will provide additional transparency
      into the true, ongoing earnings performance of its business.
    </p>
    <p>
      <b>2018 Adjusted Guidance</b><br>2018 guidance excludes the pre-tax
      effect of acquisition integration costs of approximately $25 million,
      supply chain transformation and network realignment costs of
      approximately $25 million to $30 million and the remaining impacts
      associated with the Victory wind down which is estimated to be
      approximately $5 million. Additionally, 2018 guidance excludes the
      pre-tax gain of $13 million related to the Company's investment in
      Brammo and charges of $23 million, including the impairment of the
      Company's equity investment in the Eicher-Polaris joint venture in India
      and related wind down costs, recorded in the first half of 2018.
      Additional costs associated with the wind down of the joint venture, if
      any, are expected to be immaterial for the remainder of 2018. Intangible
      amortization of approximately $35 million related to all acquisitions
      has also been excluded. 2018 adjusted sales guidance excludes any
      Victory wholegood, accessories and apparel sales and corresponding
      promotional costs as the Company is in the process of exiting the brand.
      The Company has not provided reconciliations of guidance for adjusted
      diluted net income per share, in reliance on the unreasonable efforts
      exception provided under Item 10(e)(1)(i)(B) of Regulation S-K. The
      Company is unable, without unreasonable efforts, to forecast certain
      items required to develop meaningful comparable GAAP financial measures.
      These items include costs associated with the Victory wind down,
      restructuring and realignment costs, and acquisition integration costs
      that are difficult to predict in advance in order to include in a GAAP
      estimate.
    </p>
    <p>
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