XML 35 R18.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Financial Services Arrangements | 12 Months Ended
--- | ---
Dec. 31, 2018
Disclosure Financial Services Arrangements [Abstract] |
Financial Services Arrangements | Financial Services Arrangements Polaris Acceptance, a joint venture between Polaris and Wells Fargo Commercial Distribution Finance Corporation, a direct subsidiary of Wells Fargo Bank, N.A. (“Wells Fargo”), which is supported by a partnership agreement between their respective wholly owned subsidiaries, finances substantially all of Polaris’ United States sales of snowmobiles, ORVs, motorcycles, and related PG&A, whereby Polaris receives payment within a few days of shipment of the product. Polaris’ subsidiary has a 50 percent equity interest in Polaris Acceptance. Polaris Acceptance sells a majority of its receivable portfolio to a securitization facility (the “Securitization Facility”) arranged by Wells Fargo. The sale of receivables from Polaris Acceptance to the Securitization Facility is accounted for in Polaris Acceptance’s financial statements as a “true-sale” under Accounting Standards Codification Topic 860. Polaris’ allocable share of the income of Polaris Acceptance has been included as a component of income from financial services in the accompanying consolidated statements of income. The partnership agreement is effective through February 2022. Polaris’ total investment in Polaris Acceptance of $92,059,000 at December 31, 2018 is accounted for under the equity method, and is recorded in investment in finance affiliate in the accompanying consolidated balance sheets. At December 31, 2018, the outstanding amount of net receivables financed for dealers under this arrangement was $1,226,353,000, which included $573,669,000 in the Polaris Acceptance portfolio and $652,684,000 of receivables within the Securitization Facility (“Securitized Receivables”). Polaris has agreed to repurchase products repossessed by Polaris Acceptance up to an annual maximum of 15 percent of the aggregate average month-end outstanding Polaris Acceptance receivables and Securitized Receivables during the prior calendar year. For calendar year 2018, the potential 15 percent aggregate repurchase obligation was approximately $164,969,000. Polaris’ financial exposure under this arrangement is limited to the difference between the amounts unpaid by the dealer with respect to the repossessed product plus costs of repossession and the amount received on the resale of the repossessed product. No material losses have been incurred under this agreement during the periods presented. Summarized financial information for Polaris Acceptance reflecting the effects of the Securitization Facility is presented as follows (in thousands):
| For the Years Ended December 31,
| 2018 |  | 2017 |  | 2016
Revenues | $ | 72,093 |  |  | $ | 61,645 |  |  | $ | 66,414 |
Interest and operating expenses | 11,832 |  |  | 7,590 |  |  | 6,182 |
Net income | $ | 60,261 |  |  | $ | 54,055 |  |  | $ | 60,232 |
| As of December 31,
| 2018 |  | 2017
Finance receivables, net | $ | 573,669 |  |  | $ | 518,199 |
Other assets | 102 |  |  | 96 |
Total Assets | $ | 573,771 |  |  | $ | 518,295 |
Notes payable | $ | 386,438 |  |  | $ | 337,050 |
Other liabilities | 3,215 |  |  | 3,717 |
Partners’ capital | 184,118 |  |  | 177,528 |
Total Liabilities and Partners’ Capital | $ | 573,771 |  |  | $ | 518,295 |
A subsidiary of TCF Financial Corporation (“TCF”) finances a portion of Polaris’ United States sales of boats whereby Polaris receives payment within a few days of shipment of the product. Polaris has agreed to repurchase products repossessed by TCF up to a maximum of 100 percent of the aggregate outstanding TCF receivables balance. At December 31, 2018, the potential aggregate repurchase obligation was approximately $201,600,000. Polaris’ financial exposure under this arrangement is limited to the difference between the amounts unpaid by the dealer with respect to the repossessed product plus costs of repossession and the amount received on the resale of the repossessed product. No material losses have been incurred under this agreement during the periods presented. Polaris has agreements with Performance Finance, Sheffield Financial and Synchrony Bank, under which these financial institutions provide financing to end consumers of Polaris products. Polaris’ income generated from these agreements has been included as a component of income from financial services in the accompanying consolidated statements of income. Polaris also administers and provides extended service contracts to consumers and certain insurance contracts to dealers and consumers through various third-party suppliers. Polaris finances its self-insured risks related to extended service contracts, but does not retain any insurance or financial risk under any of the other arrangements. Polaris’ service fee income generated from these arrangements has been included as a component of income from financial services in the accompanying consolidated statements of income.

X
- Definition Disclosure - Financial Services Arrangements [Abstract] + References No definition available. + Details
Name: | pii_DisclosureFinancialServicesArrangementsAbstract
Namespace Prefix: | pii_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the information summarizing investments in and advances to majority-owned subsidiaries, other controlled companies, and other affiliates. It reflects specified information about ownership, financial results from, and financial position in such entities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 + Details
Name: | us-gaap_InvestmentsInAndAdvancesToAffiliatesScheduleOfInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration