<SEC-DOCUMENT>0000097134-13-000012.txt : 20130515
<SEC-HEADER>0000097134-13-000012.hdr.sgml : 20130515
<ACCEPTANCE-DATETIME>20130412112635
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000097134-13-000012
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20130412

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TENNANT CO
		CENTRAL INDEX KEY:			0000097134
		STANDARD INDUSTRIAL CLASSIFICATION:	REFRIGERATION & SERVICE INDUSTRY MACHINERY [3580]
		IRS NUMBER:				410572550
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		701 N LILAC DR
		STREET 2:		PO BOX 1452
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55440
		BUSINESS PHONE:		6125401200

	MAIL ADDRESS:	
		STREET 1:		701 N LILAC DR
		STREET 2:		PO BOX 1452
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55440

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TENNANT G H CO
		DATE OF NAME CHANGE:	19700515
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: -36pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font size="4">&#160;&#160;&#160;&#160;&#160;</font>701 N. Lilac Drive</font></div>

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<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">P.O. Box 1452</font></div>

<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Minneapolis, MN</font></div>

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<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 11pt">BY EDGAR<font id="TAB2" style="FONT-FAMILY: Times New Roman; LETTER-SPACING: 9pt; FONT-SIZE: 11pt">&#160;&#160;&#160;</font><font id="TAB2" style="FONT-FAMILY: Times New Roman; LETTER-SPACING: 9pt; FONT-SIZE: 11pt">&#160;&#160;&#160;</font><font id="TAB2" style="FONT-FAMILY: Times New Roman; LETTER-SPACING: 9pt; FONT-SIZE: 11pt">&#160;&#160;&#160;</font><font id="TAB2" style="FONT-FAMILY: Times New Roman; LETTER-SPACING: 9pt; FONT-SIZE: 11pt">&#160;&#160;&#160;</font><font id="TAB2" style="FONT-FAMILY: Times New Roman; LETTER-SPACING: 9pt; FONT-SIZE: 11pt">&#160;&#160;&#160;</font><font size="4" style="FONT-FAMILY: Times New Roman; FONT-SIZE: 11pt">&#160;</font></font></font><br>
</font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">T: Direct: 763.540.1204</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt">Mr. Terence O&#8217;Brien, Branch Chief</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt">Securities and Exchange Commission</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Tennant Company</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt; FONT-WEIGHT: bold">Filed February 22, 2013</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt; FONT-WEIGHT: bold">File No. 1-16191</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 43.2pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt">Dear Mr. O&#8217;Brien:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 43.2pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt">Tennant Company, a Minnesota corporation (the &#8220;Company&#8221;), hereby responds <font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">to</font> the Staff&#8217;s comment letter dated March 20, 2013.&#160;&#160;This letter contains the responses to the Staff&#8217;s comments.&#160;&#160;The comments in the comment letter have been reproduced here in italics and the Company&#8217;s responses are detailed under those comments.</font></div>

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<div align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt">In future filings, please provide all of the information called for by Item 101 of Regulation S-K, either in this section, or if provided elsewhere, as indicated with clear references.&#160;&#160;Specifically, please make sure that future filings include:</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt">the measures of profit or loss and total assets for each segment called for by Item 101(b) of Regulation S-K.&#160;&#160;You state on page 3 that you have one reportable business segment; thus please provide these measures for your business on a consolidated basis or a reference to where this information is being presented;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt">the information on backlog orders called for by Item 101(c)(viii) of Regulation S-K; and</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt">the measure of the long-lived assets located in the United States called for by Item 101(d)(ii)(A) of Regulation S-K.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 43.2pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Response</font>:&#160;&#160;In regards to the first bullet-point, in future filings, additional specific reference to the measures of profit and loss and total assets for our reportable business segment will be made. In addition to the reference to Note 17 related to net sales and long-lived assets by geography, specific reference will also be made to Item 8 which includes financial information contained in our consolidated statement of earnings and consolidated balance sheet for our reportable business segment.</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 43.2pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt">In regards to the second bullet-point, the order backlog has not been material for the years ended December 31, 2010, 2011 and 2012. Therefore, no reference to order backlog was made. However, in future filings a specific reference will be made indicating the order backlog is not significant and therefore not material. In the event that the order backlog does become significant, disclosure to that effect will be made accordingly.</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 43.2pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt">In regards to the last bullet-point, in future filings, in addition to providing information on long-lived assets for our Americas geographic region in Note 17, we will also provide information on long-lived assets located in the United States within Item 1 under &#8220;Segment and Geographic Area Financial Information.&#8221;</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 43.2pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations, page 9</font></font></div>

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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt">2.</font></div>
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<div align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt">Your MD&amp;A contains extensive discussion of past performance with minimal corresponding disclosure on prospective developments and strategies.&#160;&#160;You provide some guidance regarding the focus of your R &amp; D expenditures, but do not discuss management&#8217;s perception of trends or uncertainties that may affect net sales or income from continuing operations.&#160;&#160;Please refer to Section III.B.3 of SEC Release 33-8350 and Item 303(a)(3)(ii) of Regulation S-K when preparing your future filings.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 43.2pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Gross Profit, page 10</font></font></div>

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<div align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt">We note your discussion of the effect of raw material cost inflation in 2011 on your gross profit margin.&#160;&#160;Please note that if inflation is materially impacting your business, then Item 303(a)(3)(iv) calls for a greater discussion than you have currently furnished.&#160;&#160;Please see Instruction 8 to 303(a).&#160;&#160;Please provide a brief textual description of management&#8217;s views on the effects of inflation and other changes in price on revenues and income from continuing operations over the past three years in future filings.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 43.2pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Response</font>:&#160;&#160;As we reported in Item 7, raw material cost inflation in 2011 was mitigated by selling price increases, productivity improvements, tight cost controls and leverage from higher production levels. In addition, management&#8217;s views on inflation for 2012 are reported in Item 7A paragraph 4.</font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 43.2pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt">In future filings, management&#8217;s views on inflation over the past three years will be included within Item 7 under &#8220;Gross Profit&#8221; or we will include a reference to disclosure of such information in Item 7A.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 43.2pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Quantitative and Qualitative Disclosure About Market Risk, page 16</font></font></div>

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<div align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt">Please include the quantitative information required by Item 305(a) of Regulation S-K regarding your foreign currency exchange risk in future filings.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 43.2pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Response</font>:&#160;&#160;In future filings, we will include more quantitative information as required by Item 305(a) of Regulation S-K regarding the Company&#8217;s foreign currency exchange risk.</font></div>

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<div align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt">We note your discussion of the role of Mr. Dybsky in aiding your Compensation Committee as it makes decisions about the compensation of Named Executives other than your CEO.&#160;&#160;Please supplementally advise us as to the manner in which Mr. Dybsky&#8217;s compensation is determined, and whether he has any input in the process.&#160;&#160;See Item 402(b)(1)(xv) of Regulation S-K.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 43.2pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Response</font>:&#160;&#160;As we disclosed, our Compensation Committee considers a variety of factors when determining the compensation of our executive officers other than our CEO, which includes Mr. Dybsky. This information includes our CEO&#8217;s evaluation of the executive officers&#8217; performance; Mr. Dybsky&#8217;s input on each executive officer&#8217;s job description, key duties and responsibilities in the Company; and competitive market data provided by the Company&#8217;s independent compensation consultant.&#160;&#160;While there is no particular formula as to how all those various data points factor into the Committee&#8217;s overall decisions, the market data provided by our compensation consultant, both the raw data from their database, as well as the compensation information calibrated with our peer group data, is given strong consideration by the Committee.&#160;&#160;Mr. Dybsky&#8217;s input on the job scope of each executive officer, including his own, is used in large part by the Company&#8217;s compensation consultant to appropriately scope each executive officer&#8217;s position against comparable positions within the consultant&#8217;s database and the Company&#8217;s peer group.&#160;&#160;Mr. Dybsky, in his role as Vice President, Administration, facilitates the gathering of the market data by our independent compensation consultant, but the consultant conducts the analysis, reviews the information in advance with the Chair of the Committee and makes compensation recommendations to the Committee.&#160;&#160;Mr. Dybsky is not present at the Committee meeting when the compensation of the executive officers is discussed.&#160;&#160;The compensation consultant presents the information to the Committee and they work in executive session to set the compensation of all of the executive officers, including Mr. Dybsky.&#160;&#160;Mr. Dybsky plays no role in determining his own compensation.&#160;&#160;In future filings, we will further clarify the role played by Mr. Dybsky in compensation decisions, including those affecting his own compensation.</font></div>

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<div align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt">In future filings, please clarify in your discussion of a given year&#8217;s STIP the maximum amount which may be earned, rather than presenting this information in a footnote to the Grants of Plan-Based Awards table.&#160;&#160;Please see Item 402(b)(1)(v) of Regulation S-K.</font></div>
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<div align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt">We note that 30% of Mr. Eckert&#8217;s STIP was tied to the financial results in the Americas.&#160;&#160;However, you have not provided disclosure regarding the target performance levels and actual attained performance levels.&#160;&#160;In future filings, please disclose all of the performance-based compensation targets and actual performance so that readers may better understand how performance has affected the payouts associated with the compensation of your named executive officers.&#160;&#160;See Items 402(b)(2)(v) through (vii) of Regulation S-K.</font></div>
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<div style="TEXT-INDENT: 18pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 43.2pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt"><font id="TAB1" style="MARGIN-LEFT: 198pt"></font>&#160;&#160;&#160;&#160;&#160;Very truly yours,</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman, serif; FONT-SIZE: 13pt">Heidi M. Wilson</font></div>
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
