---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-044839"
form_type: "8-K"
ticker: "PII"
cik: "0000931015"
company_name: "Polaris Inc."
filed_at: "2025-10-14T23:59:59+00:00"
generated_at: "2026-05-17T04:02:44.633991+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Polaris to sell majority stake in Indian Motorcycle to Carolwood; Q3 adj. EPS $0.31-$0.41

## Summary
- Agreement to sell majority of Indian Motorcycle to Carolwood LP; close expected Q1 2026.
- Transaction expected to be accretive to adjusted EBITDA by ~$50M and EPS by ~$1.00 annually.
- Preliminary Q3 sales at high end of $1.6-1.8B guidance; adjusted EPS range $0.31-$0.41.
- Pre-tax impairment charges of $275M-$325M from held-for-sale classification, mostly Q4.
- On Road President Mike Dougherty to retire at close; Carolwood names Mike Kennedy as Indian Motorcycle CEO.

## SEC filing metadata
- accession: 0001628280-25-044839
- form_type: 8-K
- ticker: PII
- cik: 0000931015
- company_name: Polaris Inc.
- filed_at: 2025-10-14T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 2.06, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/931015/000162828025044839/0001628280-25-044839-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/931015/000162828025044839/pii-20251010.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-044839
- JSON: https://secwatch.observer/filing/0001628280-25-044839.json
- Plain text: https://secwatch.observer/filing/0001628280-25-044839.txt

## Source-grounded claims
- claim_id: 29b85b26f2678fd9f05702e8e4d7ffadf3a8305d
  claim: Polaris Inc. announced a impairment with charges of approximately $275 million to $325 million, or approximately $230 million to $280 million net of an expected tax benefit of approximately $45 million affecting Indian Motorcycle Business.
  evidence_excerpt: On October 10, 2025, certain wholly owned subsidiaries of the Company entered into a definitive agreement to sell the Indian Motorcycle Business. Under U.S. generally accepted accounting principles, the Indian Motorcycle Business will be classified as held for sale. Accordingly, the Company will be required to record the assets related to the Indian Motorcycle Business at fair value, less an amount of estimated transaction costs. Further, the Company recorded related impairment charges in the third quarter of 2025. The Company currently expects estimated pre-tax charges of approximately $275 million to $325 million, or approximately $230 million to $280 million net of an expected tax benefit of approximately $45 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/931015/000162828025044839/0001628280-25-044839-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.