Polaris Inc. (PII) financial statements (2022 and earlier)
Company profile
| Business Address |
2100 HIGHWAY 55 MEDINA, MN 55340 |
| State of Incorp. | MN |
| Fiscal Year End | December 31 |
| SIC | 379 - Miscellaneous Transportation Equipment (benchmarking) |
| More info | Complete financial analysis Financial benchmarking |
Balance sheet (Statement of financial position) ($ in millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 509 | 635 | 157 | 161 | 138 | 127 | 155 | ||
| Cash and cash equivalents | 509 | 635 | 157 | 161 | 138 | 127 | 155 | ||
| Receivables | 245 | 261 | 223 | 234 | 230 | 225 | 197 | ||
| Inventory, net of allowances, customer advances and progress billings | 1,645 | 1,178 | 1,121 | 970 | 784 | 747 | 710 | ||
| Inventory | 1,645 | 1,178 | 1,121 | 970 | 784 | 747 | 710 | ||
| Other undisclosed current assets | 161 | 134 | 126 | 121 | 101 | 92 | 92 | ||
| Total current assets: | 2,559 | 2,208 | 1,627 | 1,486 | 1,254 | 1,191 | 1,155 | ||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset | 12 | ✕ | ✕ | ✕ | ✕ | ||||
| Operating lease, right-of-use asset | 165 | 125 | ✕ | ✕ | ✕ | ✕ | |||
| Property, plant and equipment | 975 | 889 | 900 | 843 | 747 | 728 | 651 | ||
| Long-term investments and receivables | 49 | 59 | 111 | 92 | 89 | 94 | 99 | ||
| Long-term investments | 49 | 59 | 111 | 92 | 89 | 94 | 99 | ||
| Intangible assets, net (including goodwill) | 1,038 | 1,084 | 1,490 | 1,518 | 781 | 793 | 236 | ||
| Goodwill | 391 | 397 | 660 | 647 | 433 | 422 | 131 | ||
| Intangible assets, net (excluding goodwill) | 646 | 686 | 830 | 871 | 347 | 371 | 105 | ||
| Regulated entity, other noncurrent assets | 6 | 4 | 5 | 2 | 3 | ||||
| Deferred income tax assets | 164 | ✕ | ✕ | ✕ | ✕ | ||||
| Other noncurrent assets | 98 | 90 | 99 | 99 | 104 | 106 | 80 | ||
| Deferred tax assets, net | ✕ | ✕ | ✕ | 153 | |||||
| Other undisclosed noncurrent assets | 161 | 199 | 82 | 113 | 185 | 14 | |||
| Total noncurrent assets: | 2,489 | 2,425 | 2,804 | 2,639 | 1,836 | 1,909 | 1,233 | ||
| TOTAL ASSETS: | 5,048 | 4,633 | 4,431 | 4,125 | 3,090 | 3,100 | 2,387 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 1,315 | 1,376 | 996 | 838 | 800 | 716 | 592 | ||
| Accounts payable | 797 | 782 | 450 | 346 | 317 | 274 | 300 | ||
| Accrued liabilities | 500 | 571 | 540 | 487 | 472 | 440 | 286 | ||
| Taxes payable | 17 | 22 | 6 | 5 | 11 | 2 | 7 | ||
| Deferred revenue | 44 | 38 | ✕ | ✕ | ✕ | ✕ | |||
| Debt | 553 | 144 | 333 | 133 | 95 | 8 | 10 | ||
| Deferred compensation liability | 224 | 215 | 185 | 168 | 168 | 122 | 106 | ||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | 19 | 11 | |||
| Other undisclosed current liabilities | 94 | 117 | 14 | 58 | 48 | 103 | 118 | ||
| Total current liabilities: | 2,230 | 1,889 | 1,528 | 1,197 | 1,130 | 960 | 827 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 141 | 1,542 | 16 | 18 | 18 | 20 | |||
| Long-term debt, excluding current maturities | 1,527 | ||||||||
| Finance lease, liability | 12 | ✕ | ✕ | ✕ | ✕ | ||||
| Capital lease obligations | ✕ | ✕ | 15 | 16 | 18 | 18 | 20 | ||
| Operating lease, liability | 129 | ✕ | ✕ | ✕ | ✕ | ||||
| Liabilities, other than long-term debt | 204 | 181 | 204 | 158 | 151 | 126 | 111 | ||
| Accounts payable and accrued liabilities | 13 | 14 | 28 | 29 | 20 | 26 | 23 | ||
| Deferred tax liabilities, net | ✕ | ✕ | 4 | 6 | 10 | 9 | 14 | ||
| Deferred income tax liabilities | 6 | ✕ | ✕ | ✕ | ✕ | ||||
| Liability for uncertainty in income taxes | 28 | ||||||||
| Other liabilities | 186 | 167 | 144 | 123 | 120 | 90 | 74 | ||
| Other undisclosed noncurrent liabilities | 1,235 | 1,405 | 35 | 1,880 | 847 | 1,121 | 439 | ||
| Total noncurrent liabilities: | 1,580 | 1,586 | 1,781 | 2,054 | 1,016 | 1,264 | 570 | ||
| Total liabilities: | 3,810 | 3,476 | 3,309 | 3,251 | 2,146 | 2,224 | 1,396 | ||
| Temporary equity, carrying amount | 11 | 12 | 14 | 7 | 12 | 9 | 10 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | 1,224 | 1,145 | 1,108 | 867 | 932 | 867 | 981 | ||
| Common stock | 1 | 1 | 1 | 1 | 1 | 1 | 1 | ||
| Additional paid in capital | 1,144 | 984 | 893 | 808 | 734 | 650 | 596 | ||
| Accumulated other comprehensive loss | (77) | (58) | (73) | (63) | (46) | (84) | (62) | ||
| Retained earnings | 157 | 218 | 287 | 121 | 243 | 300 | 447 | ||
| Stockholders' equity attributable to noncontrolling interest | 2 | 0 | 0 | ||||||
| Total stockholders' equity: | 1,226 | 1,145 | 1,108 | 867 | 932 | 867 | 981 | ||
| TOTAL LIABILITIES AND EQUITY: | 5,048 | 4,633 | 4,431 | 4,125 | 3,090 | 3,100 | 2,387 | ||
Income statement (P&L) ($ in millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 8,198 | 7,028 | 6,783 | 6,079 | 5,428 | 4,517 | 4,719 | |
| Revenue, net | ✕ | ✕ | ✕ | ✕ | 5,428 | 4,517 | 4,719 | |
| Cost of revenue (Cost of Goods and Services Sold) | (6,256) | (5,318) | (5,134) | (4,577) | (4,104) | (3,411) | (3,380) | |
| Gross profit: | 1,943 | 1,710 | 1,649 | 1,501 | 1,325 | 1,106 | 1,339 | |
| Operating expenses | (1,288) | (1,578) | (1,246) | (1,101) | (1,041) | (834) | (692) | |
| Other undisclosed operating income | 54 | 80 | 81 | 87 | 76 | 78 | 69 | |
| Operating income: | 709 | 212 | 484 | 487 | 360 | 350 | 716 | |
| Nonoperating income (expense) (Other Nonoperating Income (Expense)) | (2) | (4) | 7 | 28 | (2) | (14) | (12) | |
| Interest and debt expense | (44) | (67) | (78) | (57) | (32) | (16) | (11) | |
| Income from continuing operations before equity method investments, income taxes: | 663 | 141 | 413 | 459 | 326 | 320 | 693 | |
| Loss from equity method investments | (5) | (29) | (7) | (7) | (7) | |||
| Other undisclosed loss from continuing operations before income taxes | (37) | |||||||
| Income from continuing operations before income taxes: | 626 | 141 | 408 | 429 | 319 | 313 | 686 | |
| Income tax expense | (131) | (17) | (84) | (94) | (146) | (100) | (230) | |
| Net income: | 494 | 125 | 324 | 335 | 172 | 213 | 455 | |
| Net income (loss) attributable to noncontrolling interest | (0) | 0 | ||||||
| Other undisclosed net loss attributable to parent | (0) | |||||||
| Net income attributable to parent: | 494 | 125 | 324 | 335 | 172 | 213 | 455 | |
| Preferred stock dividends and other adjustments | 1 | 1 | (7) | 5 | (3) | 1 | 4 | |
| Net income available to common stockholders, diluted: | 495 | 126 | 317 | 340 | 170 | 214 | 459 | |
Comprehensive Income ($ in millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 494 | 125 | 324 | 335 | 172 | 213 | 455 | |
| Other comprehensive income (loss) | (19) | 14 | (9) | (17) | 38 | (21) | (35) | |
| Comprehensive income: | 475 | 139 | 315 | 318 | 211 | 192 | 420 | |
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (0) | (0) | 0 | |||||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 0 | (0) | ||||||
| Comprehensive income, net of tax, attributable to parent: | 475 | 139 | 315 | 318 | 211 | 192 | 420 | |
Statements sources
The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.