Use the information given in this report to answer the following questions and follow the attached template: https://www.sec.gov/Archives/edgar/data/931015/000162828023004043/
Use the information given in this report to answer the following questions and follow the attached template:
https://www.sec.gov/Archives/edgar/data/931015/000162828023004043/pii-20221231.htm
Company Name ________________________________
Financial Year ______________________
- Locate the report and review it. Make note of who the independent auditors are.
- If you were an auditor, what would you have “auditor reservations” or anything that you would flag with the term “except”? Give details and defend your answers.
- Locate the report of management. Since the passage of the Sarbanes-Oxley Act in 2002, corporate management must certify these financial results. Who signed the management report? What impact do the people who signed the report have on the organization? How is this important?
- Which intangible assets are listed on the balance sheet? How can organizations utilize this information when making strategic decisions?
5
This Is Your Title: It Should Be Descriptive but Succinct
Your Name
ECPI University
ABC 101: Course Name
Professor (or Dr.) Firstname Lastname
Date
This Is Your Title: It Should Be Descriptive but Succinct
This is your introduction and thesis paragraph. The introduction should be about five or six sentences and provide some background or context for your topic. Limit the use of “I” and “you” in academic writing, though they are both used in this directions / template document. When appropriate, include recent events relating to the topic.
Financial Background
The Financial Background is the first main header for this week’s submission. I am indenting the first line of the paragraph. The file is formatted to double space lines of text, which is part of APA Style.
Here is where you want to share the company’s financial background. How did they get started? Some companies start from loan in a garage and grow to be a multi-million-dollar organization. You will want to look at the company’s website and search for the 10-K. A 10-K is a comprehensive report filed annually by public companies about their financial performance. The report is required by the U.S. Securities and Exchange Commission (SEC) and is far more detailed than the annual report.
Financial Information
Identify and describe how this company’s financial aspects. There are also some Level 2 Headings here that will help you to stay organized.
Stock Exchange where traded
Stock Symbol
Stock Price 1 year ago
Stock Price Today
Summarize what you have learned about the company’s current financial information. Is the stock worth more or less? Why?
Conclusion
Now you start the conclusion, which is the last Major Heading. Wrap up your report’s main points, and include any of your own observations, interpretations, and opinions. Respond to the three points in the outline.
References
American Psychological Association. (year). Article title: Capital letter also for subtitle. Name of Journal, volume#(issue#), pg#-pg#.
Author(s) of essay or chapter. (year). Title of essay or chapter. In F. M. Lastname (Ed.), Book title (pages of essay or chapter). Publisher. https://doi.org/10.xx.xxxxxxxxxx
Freud, S. (year). Article title. Name of Journal, volume(issue), pages. https://doi.org/10.xx.xxxxxxxxxx
Pavlov, I., Jung, C., & Freud, S. (year of last update, month day). Webpage title. Source or hosting webpage. https://www.someurl.com/full/address
Ramirez, A. T. (year). Book title. Publisher. https://doi.org/10.xx.xxxxxxxxxx
Skinner, B. F., & Ferster, C. B. (year). Article title: Capital letter also for subtitle. Name of Journal, volume#(issue#), pg#-pg#. https://doi.org/10.xx.xxxxxxxxxx
Stein, D. J., Friedman, M. J., & Blanco, C. (Eds.). (year). Book title (edition, Vol. #). Publisher. https://doi.org/10.xx.xxxxxxxxxx
,
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2022
OR
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Commission file number 001-11411
POLARIS INC. (Exact name of registrant as specified in its charter)
Minnesota 41-1790959
(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)
2100 Highway 55, Medina, Minnesota 55340
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (763) 542-0500
Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, $.01 par value PII New York Stock Exchange
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer ☒�Accelerated filer ☐�Non-accelerated filer ☐�Smaller reporting company ☐ Emerging growth company ☐ 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. ☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒
The aggregate market value of the registrant’s common stock held by non-affiliates of the registrant was approximately $5,911,815,000 as of June 30, 2022, based upon the last sales price per share of the registrant’s Common Stock, as reported on the New York Stock Exchange on such date. As of February 10, 2023, 57,076,372 shares of Common Stock, $.01 par value, of the registrant were outstanding.
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DOCUMENTS INCORPORATED BY REFERENCE:
Portions of the definitive Proxy Statement for the registrant’s Annual Meeting of Shareholders to be held on or about April 27, 2023, to be filed with the Securities and Exchange Commission within 120 days after the end of the fiscal year covered by this report (the “2023 Proxy Statement”), are incorporated by reference into Part III of this Form 10-K.
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Table of Contents
POLARIS INC. 2022 FORM 10-K ANNUAL REPORT
TABLE OF CONTENTS
Page PART I
Item 1. Business 3 Item 1A. Risk Factors 11 Item 1B. Unresolved Staff Comments 19 Item 2. Properties 20 Item 3. Legal Proceedings 20 Item 4. Mine Safety Disclosures 21
PART II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 22
Item 6. [Reserved] 23 Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations 24 Item 7A. Quantitative and Qualitative Disclosures about Market Risk 35 Item 8. Financial Statements and Supplementary Data 37 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 71 Item 9A. Controls and Procedures 71 Item 9B. Other Information 71 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 71
PART III Item 10. Directors, Executive Officers and Corporate Governance 72 Item 11. Executive Compensation 72 Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 72 Item 13. Certain Relationships and Related Transactions, and Director Independence 72 Item 14. Principal Accounting Fees and Services 72
PART IV Item 15. Exhibit and Financial Statement Schedules 73 Item 16. Form 10-K Summary 73
Signatures 80
2
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