Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of open foreign currency contracts

At December 31, 2015, Polaris had the following open foreign currency contracts (in thousands):

Foreign Currency	Notional Amounts (in U.S. dollars)		Net Unrealized Gain (Loss)
Australian Dollar	$	20,336	$	(69	)
Canadian Dollar	81,747		5,062
Japanese Yen	10,066		110
Mexican Peso	32,857		(2,336		)
Total	$	145,006	$	2,767

Schedule of carrying values of derivative instruments

The table below summarizes the carrying values of derivative instruments as of December 31, 2015 and 2014 (in thousands):

	Carrying Values of Derivative Instruments as of December 31, 2015
	Fair Value— Assets		Fair Value— (Liabilities)			Derivative Net Carrying Value
Derivatives designated as hedging instruments
Foreign exchange contracts(1)	$	5,218	$	(2,451	)	$	2,767
Interest rate swap contracts(1)	186		—			186
Total derivatives designated as hedging instruments	$	5,404	$	(2,451	)	$	2,953
Commodity contracts(1)	—		$	(354	)	$	(354	)
Total derivatives not designated as hedging instruments	—		$	(354	)	$	(354	)
Total derivatives	$	5,404	$	(2,805	)	$	2,599

	Carrying Values of Derivative Instruments as of December 31, 2014
	Fair Value— Assets		Fair Value— (Liabilities)			Derivative Net Carrying Value
Derivatives designated as hedging instruments
Foreign exchange contracts(1)	$	534	$	(3,104	)	$	(2,570	)
Total derivatives designated as hedging instruments	$	534	$	(3,104	)	$	(2,570	)
Commodity contracts(1)	—		$	(4,609	)	$	(4,609	)
Total derivatives not designated as hedging instruments	—		$	(4,609	)	$	(4,609	)
Total derivatives	$	534	$	(7,713	)	$	(7,179	)

(1) Assets are included in prepaid expenses and other and liabilities are included in other accrued expenses on the accompanying consolidated balance sheets.