Selected Financial Data in thousands, except per share and per unit data POLARIS INDUSTRIES INC.
The selected financial data presented here are qualified in their entirety by, and should be read in conjunction with, the Consolidated Financial Statements and Notes thereto and other financial and statistical information referenced elsewhere herein, including the information referenced under the caption "Management's Discussion and Analysis of Financial Conditions and results of Operations."
Years Ended December 31,
	1997	1996	1995	1994	1993	1992	1991	1990	1989	1988
Statement of Operations Data
Sales data
Total dollars	$1,048,296	$1,191,901	$1,113,852	$826,286	$528,011	$383,818	$297,677	$296,147	$242,618	$171,497
% change from prior year	(12%)	7%	35%	56%	38%	29%	1%	22%	41%	24%
Sales mix by product (%)
Snowmobiles	42%	43%	46%	52%	59%	63%	69%	74%	74%	77%
ATVs	45%	37%	33%	30%	27%	25%	25%	19%	19%	17%
PWC	7%	16%	16%	14%	9%	7%	–	–	–	–
International	6%	4%	5%	4%	5%	5%	6%	7%	7%	6%
Gross profit data
Total dollars	$ 262,538	$ 263,816	$ 247,993	$196,783	$141,387	$ 112,322	$ 94,120	$ 93,845	$ 80,384	$ 54,728
% of sales	25%	22%	22%	24%	27%	29%	32%	32%	33%	32%
Operating expense data
Amortization of intangibles and noncash compensation	$ 5,887	$ 5,325	$ 5,616	$ 14,321	$ 13,466	$ 11,997	$ 13,108	$ 12,116	$ 15,717	$ 8,645
Conversion costs	–	–	–	12,315	–	–	–	–	–	–
Other operating expenses	163,549	161,074	140,719	94,485	74,694	59,634	49,294	50,917	38,366	27,620
% of sales	16%	14%	13%	11%	14%	16%	17%	17%	16%	16%
Actual and pro forma data*
Net income	$ 65,383	$ 62,293	$ 60,776	$ 54,703	$ 33,027	$ 24,602	$ 20,727	$ 20,465	$ 16,657	$ 11,538
Basic and diluted net income per share	$ 2.45	$ 2.24	$ 2.19	$ 1.98	$ 1.21	$ 0.91	$ 0.81	$ 0.79	$ 0.65	$ 0.47
Cash Flow Data
Cash flow from operating activities	$ 102,308	$ 89,581	$ 77,749	$111,542	$ 78,503	$ 55,316	$ 46,642	$ 54,782	$ 44,447	$ 37,542
Purchase of property and equipment	36,798	45,336	47,154	32,656	18,946	12,295	15,988	7,158	7,065	2,724
Repurchase and retirement of common stock	39,903	13,587	–	–	–	–	–	–	–	–
Cash dividends to shareholders	16,958	16,390	116,639	–	–	–	–	–	–	–
Cash dividends per share	$ 0.64	$ 0.60	$ 4.27	–	–	–	–	–	–	–
Cash distributions declared to partners	–	–	–	50,942	47,217	44,507	42,581	42,582	32,514	17,722
Cash distributions declared per unit	–	–	–	$ 1.68	$ 1.67	$ 1.67	$ 1.67	$ 1.67	$ 1.51	$ 0.80
Balance Sheet Data (at end of year)
Cash and cash equivalents	$ 1,233	$ 5,812	$ 3,501	$ 62,881	$ 33,798	$ 19,094	$ 20,098	$ 32,025	$ 27,886	$ 15,599
Current assets	217,458	193,405	175,271	206,489	109,748	74,999	59,200	66,893	60,344	36,377
Total assets	384,746	351,717	314,436	331,166	180,548	146,681	135,509	138,704	137,628	118,070
Current liabilities	191,111	161,387	155,722	161,457	98,055	69,054	52,646	46,602	38,875	20,665
Borrowings under credit agreement	24,400	35,000	40,200	–	–	–	–	–	–	–
Shareholders’ equity/Partners’ capital	169,235	155,330	118,514	169,709	82,493	77,627	82,863	92,102	98,753	97,405
*The comparability of the information reflected in the Selected Financial data is materially affected by the conversion from a master limited partnership to a corporation on December 22, 1994, which resulted in the Company recording a net deferred tax asset of $65.0 million, conversion expenses of $12.3 million and a corresponding net increase in 1994 net income. Pro forma data is presented to assist in comparing the continuing results of operations of the Company exclusive of the conversion costs and as if the Company was a taxable corporation for each period presented.