Acquisitions (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary fair value measurement of the assets acquired and liabilities assumed as of the date of acquisition:



ASSETS
Receivables	$	39,984
Inventories	46,442
Other Current Assets	5,314
Assets Held for Sale	2,247
Property, Plant and Equipment	63,890
Intangible Assets Subject to Amortization:
Trade Name	26,753
Customer Lists	123,061
Technology	9,631
Other Assets	8,261
Total Identifiable Assets Acquired	325,583
LIABILITIES
Accounts Payable	32,227
Accrued Expenses	15,611
Deferred Income Taxes	60,433
Other Liabilities	9,360
Total Identifiable Liabilities Assumed	117,631
Net Identifiable Assets Acquired	207,952
Noncontrolling Interest	(2,028		)
Goodwill	147,845
Total Estimated Purchase Price, net of Cash Acquired	$	353,769

The components of the final purchase price of the Florock and Dofesa acquisitions, as described above, have been allocated as follows:



Current Assets	$	5,949
Property, Plant and Equipment, net	4,112
Identified Intangible Assets	6,055
Goodwill	1,739
Other Assets	7
Total Assets Acquired	17,862
Current Liabilities	4,764
Other Liabilities	53
Total Liabilities Assumed	4,817
Net Assets Acquired	$	13,045

Schedule of Pro Forma Financial Information

The following unaudited pro forma financial information presents the combined results of operations of Tennant Company as if the acquisition of IPC Group had occurred as of January 1, 2016:



Years ended December 31	2017			2016
Net Sales
Pro forma	$	1,057,127		$	1,013,710
As reported	1,003,066			808,572

Net Earnings (Loss) Attributable to Tennant Company
Pro forma	$	12,288		$	30,412
As reported	(6,195		)	46,614

Net Earnings (Loss) Attributable to Tennant Company per Diluted Share
Pro forma	$	0.68		$	1.69
As reported	(0.35		)	2.59