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Wiki Wiki Summary
Balance sheet In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year.
Financial statement Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity.\nRelevant financial information is presented in a structured manner and in a form which is easy to understand.
Financial ratio A financial ratio or accounting ratio is a relative magnitude of two selected numerical values taken from an enterprise's financial statements. Often used in accounting, there are many standard ratios used to try to evaluate the overall financial condition of a corporation or other organization.
Polaris Inc. Polaris Inc. is an American automotive manufacturer of motorcycles, snowmobiles, all-terrain vehicles, and neighborhood electric vehicles headquartered in Medina, Minnesota, United States.
UGM-27 Polaris The UGM-27 Polaris missile was a two-stage solid-fueled nuclear-armed submarine-launched ballistic missile (SLBM). As the United States Navy's first SLBM, it served from 1961 to 1980.
Polaris Slingshot The Polaris Slingshot is a three-wheeled motorcycle. The first edition of the model was introduced in 2014 as a 2015 model.
Polaris Partners Polaris Partners is an investment firm that has partnered with entrepreneurs in the fields of healthcare and technology. The firm has partnered with enterprises in various stages of development.
Formula One regulations The numerous Formula One regulations, made and enforced by the FIA and later the FISA, have changed dramatically since the first Formula One World Championship in 1950. This article covers the current state of F1 technical and sporting regulations, as well as the history of the technical regulations since 1950.
Regulation of therapeutic goods The regulation of therapeutic goods, defined as drugs and therapeutic devices, varies by jurisdiction. In some countries, such as the United States, they are regulated at the national level by a single agency.
Radio regulation Radio regulation refers to the regulation and licensing of radio in international law, by individual governments, and by municipalities.\n\n\n== International regulation ==\nThe International Telecommunication Union (ITU) is a specialized agency of the United Nations (UN) that is responsible for issues that concern information and communication technologies.
List of stars for navigation Fifty-seven navigational stars and additionally the star Polaris are given a special status in the field of celestial navigation. Of the approximately 6,000 stars visible to the naked eye under optimal conditions, these selected stars are among the brightest and span 38 constellations of the celestial sphere from the declination of −70° to +89°.
Polaris (UK nuclear programme) The United Kingdom's Polaris programme, officially named the British Naval Ballistic Missile System, provided its first submarine-based nuclear weapons system. Polaris was in service from 1968 to 1996.
Radeon RX 500 series The Radeon RX 500 series is a series of graphics cards made by AMD. These cards are based on the fourth iteration of the Graphics Core Next architecture, featuring GPUs based on Polaris 30, Polaris 20, Polaris 11, and Polaris 12 chips. Thus the RX 500 series uses the same microarchitecture and instruction set as its predecessor, while making use of improvements in the manufacturing process to enable higher clock rates.Third-generation GCN chips are produced on a 28 nm CMOS process.
Bombus polaris Bombus polaris is a common Arctic bumblebee species. B. polaris is one of two bumblebees that live above the Arctic Circle.
Polaris Music Prize The Polaris Music Prize is a music award annually given to the best full-length Canadian album based on artistic merit, regardless of genre, sales, or record label. The award was established in 2006 with a $20,000 cash prize; the prize was increased to $30,000 for the 2011 award.
Competitor backlinking Competitor backlinking is a search engine optimization strategy that involves analyzing the backlinks of competing websites within a vertical search. The outcome of this activity is designed to increase organic search engine rankings and to gain an understanding of the link building strategies used by business competitors.By analyzing the backlinks to competitor websites, it is possible to gain a benchmark on the number of links and the quality of links that is required for high search engine rankings.
Competition Competition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss (an example of which is a zero-sum game). Competition can arise between entities such as organisms, individuals, economic and social groups, etc.
Competitors for the Crown of Scotland When the crown of Scotland became vacant in September 1290 on the death of the seven-year-old child Queen Margaret, 13 claimants to the throne came forward. Those with the most credible claims were John Balliol, Robert Bruce, John Hastings and Floris V, Count of Holland.
Sport of athletics Athletics is a group of sporting events that involves competitive running, jumping, throwing, and walking. The most common types of athletics competitions are track and field, road running, cross country running, and racewalking.
Round-robin tournament A round-robin tournament (or all-play-all tournament) is a competition in which each contestant meets every other participant, usually in turn. A round-robin contrasts with an elimination tournament, in which participants are eliminated after a certain number of losses.
Product liability Product liability is the area of law in which manufacturers, distributors, suppliers, retailers, and others who make products available to the public are held responsible for the injuries those products cause. Although the word "product" has broad connotations, product liability as an area of law is traditionally limited to products in the form of tangible personal property.
Liability insurance Liability insurance (also called third-party insurance) is a part of the general insurance system of risk financing to protect the purchaser (the "insured") from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy.\nOriginally, individual companies that faced a common peril formed a group and created a self-help fund out of which to pay compensation should any member incur loss (in other words, a mutual insurance arrangement).
Strict liability In criminal and civil law, strict liability is a standard of liability under which a person is legally responsible for the consequences flowing from an activity even in the absence of fault or criminal intent on the part of the defendant.\nUnder the strict liability law, if the defendant possesses anything that is inherently dangerous, as specified under the "ultrahazardous" definition, the defendant is then strictly liable for any damages caused by such possession, no matter how careful the defendant is safeguarding them.In the field of torts, prominent examples of strict liability may include product liability, abnormally dangerous activities (e.g., blasting), intrusion onto another's land by livestock, and ownership of wild animals.Other than activities specified above (like ownership of wild animals, etc), US courts also consider the following activities as "ultrahazardous":\nstoring flammable liquids in quantity in an urban area\npile driving\nblasting\ncrop dusting\nfumigation with cyanide gas\nemission of noxious fumes by a manufacturing plant located in a settled area\nlocating oil wells or refineries in populated communities\ntest firing solid-fuel rocket motors.On the other hand, US courts rule the following activities as not "ultrahazardous": parachuting, drunk driving, maintaining power lines, and letting water escape from an irrigation ditch.Traditional criminal offenses that require no element of intent (mens rea) include statutory rape and felony murder.
Automobile products liability When a person makes a claim for personal injury damages that have resulted from the presence of a defective automobile or component of an automobile, that person asserts a product liability claim. That claim may be against the automobile's manufacturer, the manufacturer of a component part or system, or both, as well as potentially being raised against companies that distributed, sold or installed the part or system that is alleged to be defective.
Tort A Tory () is a person who holds a political philosophy known as Toryism, based on a British version of traditionalism and conservatism, which upholds the supremacy of social order as it has evolved in the English culture throughout history. The Tory ethos has been summed up with the phrase "God, Queen, and Country".
The Liability The Liability (also known as The Hitman's Apprentice) is a 2013 British black comedy crime-thriller film directed by Craig Viveiros and written by John Wrathall. The film stars Tim Roth, Talulah Riley, Jack O'Connell and Peter Mullan.
No liability A no-liability company in Australia (suffix NL) is a company which, under the Corporations Act 2001 (Cth), must have as its stated objects that it is solely a mining company and that it is not entitled to calls on the unpaid issue price of shares. It is a company which is restricted to mining activities and is the only sort of corporation which is entitled to this form of liability, given the sometimes financially risky business of mining.
Arithmetic Arithmetic (from Ancient Greek ἀριθμός (arithmós) 'number', and τική [τέχνη] (tikḗ [tékhnē]) 'art, craft') is an elementary part of mathematics that consists of the study of the properties of the traditional operations on numbers—addition, subtraction, multiplication, division, exponentiation, and extraction of roots. In the 19th century, Italian mathematician Giuseppe Peano formalized arithmetic with his Peano axioms, which are highly important to the field of mathematical logic today.
Operation Mincemeat Operation Mincemeat was a successful British deception operation of the Second World War to disguise the 1943 Allied invasion of Sicily. Two members of British intelligence obtained the body of Glyndwr Michael, a tramp who died from eating rat poison, dressed him as an officer of the Royal Marines and placed personal items on him identifying him as the fictitious Captain (Acting Major) William Martin.
Operations management Operations management is an area of management concerned with designing and controlling the process of production and redesigning business operations in the production of goods or services. It involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed and effective in meeting customer requirements.
Emergency operations center An emergency operations center (EOC) is a central command and control facility responsible for carrying out the principles of emergency preparedness and emergency management, or disaster management functions at a strategic level during an emergency, and ensuring the continuity of operation of a company, political subdivision or other organization.\nAn EOC is responsible for strategic direction and operational decisions and does not normally directly control field assets, instead leaving tactical decisions to lower commands.
Operations research Operations research (British English: operational research), often shortened to the initialism OR, is a discipline that deals with the development and application of advanced analytical methods to improve decision-making. It is sometimes considered to be a subfield of mathematical sciences.
Surgery Surgery is a medical or dental specialty that uses operative manual and instrumental techniques on a person to investigate or treat a pathological condition such as a disease or injury, to help improve bodily function, appearance, or to repair unwanted ruptured areas.\nThe act of performing surgery may be called a surgical procedure, operation, or simply "surgery".
Special operations Special operations (S.O.) are military activities conducted, according to NATO, by "specially designated, organized, selected, trained, and equipped forces using unconventional techniques and modes of employment". Special operations may include reconnaissance, unconventional warfare, and counter-terrorism actions, and are typically conducted by small groups of highly-trained personnel, emphasizing sufficiency, stealth, speed, and tactical coordination, commonly known as "special forces".
Risk Factors
POLARIS INDUSTRIES INC/MN Item 1A Risk Factors The following are significant factors known to Polaris that could materially adversely affect the Company’s business, financial condition, or operating results, as well as adversely affect the value of an investment in Polaris common stock
Polaris’ products are subject to extensive federal and state safety, environmental and other government regulation that may require the Company to incur expenses or modify product offerings in order to maintain compliance with the actions of regulators
Polaris products are subject to extensive laws and regulations relating to safety, environmental and other regulations promulgated by the US federal government and individual states as well as international regulatory authorities
Although Polaris believes that its snowmobiles, ATVs, and motorcycles have always complied with applicable vehicle safety and emissions standards and related regulations, there can be no 9 _________________________________________________________________ assurance that future regulations will not require additional safety standards or emission reductions that would require additional expenses and/or modification of product offerings in order to maintain such compliance
Although Polaris is unable to predict the ultimate impact of adopted or proposed regulations on its business and operating results, Polaris believes that its business would be no more adversely affected than those of its competitors by the adoption of any pending laws or regulations
Polaris products are also subject to laws and regulations that restrict the use or manner of use during certain hours and locations
Polaris continues to monitor these activities in conjunction with industry associations and supports balanced and appropriate programs that educate the product user on safe use of its products and how to protect the environment
A significant adverse determination in any material product liability claim against Polaris could adversely affect the operating results or financial condition
Polaris’ product liability insurance limits and coverage were adversely affected by the general decline in the availability of liability insurance starting in 1985
As a result of the high cost of premiums, and the historically insignificant amount of claims paid by Polaris, Polaris was self-insured from June 1985 to June 1996
In June 1996, Polaris purchased excess insurance coverage for catastrophic product liability claims for incidents occurring subsequent to the policy date that exceeded its self-insured retention levels
In September 2002, due to insurance market conditions resulting in significantly higher proposed premium costs, Polaris again elected not to purchase insurance for product liability losses
The estimated costs resulting from any losses are charged to expense when it is probable a loss has been incurred and the amount of the loss is reasonably determinable
Product liability claims are made against Polaris from time to time
From 1981 through 2005, Polaris and its predecessors paid an aggregate of approximately dlra15dtta8 million in product liability claims from continuing operations
Polaris has recorded an accrued liability on its balance sheet of dlra7dtta1 million at December 31, 2005 for the possible payment of pending claims related to continuing operations
Polaris believes such accruals are adequate
Polaris does not believe the outcome of any pending product liability litigation will have a material adverse effect on the operations of Polaris
However, no assurance can be given that its historical claims record, which did not include ATVs prior to 1985 or motorcycles prior to 1998, will not change or that material product liability claims against Polaris will not be made in the future
Adverse determination of material product liability claims made against Polaris would have a material adverse effect on Polaris’ financial condition
Significant repair and/or replacement with respect to product warranty claims or product recalls could have a material adverse impact on the results of operation
Polaris may provide longer warranties related to certain promotional programs, as well as longer warranties in certain geographical markets as determined by local regulations and market conditions
Although Polaris employs quality control procedures, sometimes a product is distributed which needs repair or replacement
Historically, product recalls have been administered through Polaris’ dealers and distributors and have not had a material effect on Polaris’ business
See Note 1 of Notes to Consolidated Financial Statements in this Annual Report
Changing weather conditions may reduce demand for certain Polaris products and negatively impact net sales
Lack of snowfall in any year in any particular region of the United States or Canada may adversely affect snowmobile retail sales and related PG&A sales in that region
Polaris seeks to minimize this potential effect by stressing pre-season sales (see “Production Scheduling”) and facilitate the transfer of dealer inventories from one location to another and by balancing production to retail sales and industry conditions
However, there is no assurance that weather conditions would not have a material effect on Polaris’ sales of ATVs, snowmobiles, motorcycles, or PG&A 10 _________________________________________________________________ Polaris faces intense competition in all product lines, including from some competitors that have greater financial and marketing resources
Failure to compete effectively against competitors would negatively impact Polaris’ business and operating results
The snowmobile, ATV and motorcycle markets in the United States and Canada are highly competitive
Competition in such markets is based upon a number of factors, including price, quality, reliability, styling, product features and warranties
At the dealer level, competition is based on a number of factors including sales and marketing support programs (such as financing and cooperative advertising)
Certain Polaris competitors are more diversified and have financial and marketing resources which are substantially greater than those of Polaris
In addition, Polaris’ products compete with many other recreational products for the discretionary spending of consumers, and, to a lesser extent, with other vehicles designed for utility applications
Although Polaris has been able to effectively compete with its numerous competitors, failure to do so could have a material adverse effect on future business performance
Termination or interruption of informal supply arrangements could have a material adverse effect on the Company’s business or results of operations
Pursuant to informal agreements between Polaris and Fuji in Japan, Fuji was the exclusive manufacturer of Polaris two-cycle snowmobile engines from 1968 to 1995
Fuji has manufactured engines for Polaris’ ATV products since their introduction in the spring of 1985
Such engines are developed by Fuji to the specific requirements of Polaris
Polaris believes its relationship with Fuji to be excellent
With the absence of a written agreement, if the informal relationship was terminated by Fuji, we could experience an interruption in the supply of engines that would adversely affect Polaris’ production pending the establishment of substitute supply arrangements
Polaris continues to develop additional sources for engines to reduce the risk of dependence on a single supplier and to minimize the effect of fluctuations in the Japanese yen
Polaris anticipates no significant difficulties in obtaining substitute supply arrangements for other raw materials or components for which it relies upon limited sources of supply
There can be no assurance that alternate supply arrangements will be made on satisfactory terms
Fluctuations in foreign currency exchange rates could result in declines in the reported net sales and net earnings
The changing relationships of primarily the US dollar to the Canadian dollar, the Euro and the Japanese yen have from time-to-time had a negative impact on results of operations
While we actively manage the exposure to fluctuating foreign currency exchange rates by entering into foreign exchange hedging contracts, these contracts hedge foreign currency denominated transactions and any change in the fair value of the contracts would be offset by changes in the underlying value of the transactions being hedged
The following additional factors that could have a negative effect on the future financial performance of Polaris and its common stock are discussed in the section entitled “Item 7 Management’s Discussion and Analysis of Financial Condition and Results of Operation” of this report: • Higher dealer and factory inventories/lower shipments • Lower levels of consumer spending related to concerns over gasoline and home heating costs • Higher commodity and transportation costs, particularly energy-related costs resulting from recent natural disasters • Higher floor plan financing costsIncreases in the cost and availability of certain raw materials, including aluminum, steel and plastic resins • Effects from the relationship with KTM 11 _________________________________________________________________