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Separate Financial Information of Guarantor Subsidiaries (Tables) | 3 Months Ended
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Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Condensed Consolidated Statements of Operations |
Condensed Consolidated Statement of Operations
For the three months ended March 31, 2018
(in thousands) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
Net Sales | $ | 113,690 |  |  | $ | 148,433 |  |  | $ | 140,395 |  |  | $ | (129,671 | ) |  | $ | 272,847 |
Cost of Sales | 77,231 |  |  | 123,125 |  |  | 90,245 |  |  | (128,391 | ) |  | 162,210 |
Gross Profit | 36,459 |  |  | 25,308 |  |  | 50,150 |  |  | (1,280 | ) |  | 110,637 |
Operating Expense: |  |  |  |  |  |  |  |  |
Research and Development Expense | 6,107 |  |  | 204 |  |  | 1,685 |  |  | — |  |  | 7,996 |
Selling and Administrative Expense | 29,088 |  |  | 19,717 |  |  | 43,464 |  |  | — |  |  | 92,269 |
Total Operating Expense | 35,195 |  |  | 19,921 |  |  | 45,149 |  |  | — |  |  | 100,265 |
Profit from Operations | 1,264 |  |  | 5,387 |  |  | 5,001 |  |  | (1,280 | ) |  | 10,372 |
Other Income (Expense): |  |  |  |  |  |  |  |  |
Equity in Earnings of Affiliates | 4,375 |  |  | 506 |  |  | 2,647 |  |  | (7,528 | ) |  | — |
Interest (Expense) Income, Net | (5,108 | ) |  | — |  |  | 121 |  |  | (9 | ) |  | (4,996 | )
Intercompany Interest Income (Expense) | 3,725 |  |  | (1,422 | ) |  | (2,303 | ) |  | — |  |  | — |
Net Foreign Currency Transaction Gains (Losses) | 354 |  |  | (1 | ) |  | (1,102 | ) |  | — |  |  | (749 | )
Other (Expense) Income, Net | (233 | ) |  | (591 | ) |  | 598 |  |  | (24 | ) |  | (250 | )
Total Other Income (Expense), Net | 3,113 |  |  | (1,508 | ) |  | (39 | ) |  | (7,561 | ) |  | (5,995 | )
Profit (Loss) Before Income Taxes | 4,377 |  |  | 3,879 |  |  | 4,962 |  |  | (8,841 | ) |  | 4,377 |
Income Tax Expense (Benefit) | 1,077 |  |  | 899 |  |  | 1,589 |  |  | (2,488 | ) |  | 1,077 |
Net Earnings (Loss) Including Noncontrolling Interest | 3,300 |  |  | 2,980 |  |  | 3,373 |  |  | (6,353 | ) |  | 3,300 |
Net Earnings Attributable to Noncontrolling Interest | 26 |  |  | — |  |  | 26 |  |  | (26 | ) |  | 26 |
Net Earnings (Loss) Attributable to Tennant Company | $ | 3,274 |  |  | $ | 2,980 |  |  | $ | 3,347 |  |  | $ | (6,327 | ) |  | $ | 3,274 |
Condensed Consolidated Statement of Operations
For the three months ended March 31, 2017
(in thousands) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
Net Sales | $ | 105,705 |  |  | $ | 139,080 |  |  | $ | 68,834 |  |  | $ | (122,560 | ) |  | $ | 191,059 |
Cost of Sales | 71,597 |  |  | 112,732 |  |  | 48,582 |  |  | (121,588 | ) |  | 111,323 |
Gross Profit | 34,108 |  |  | 26,348 |  |  | 20,252 |  |  | (972 | ) |  | 79,736 |
Operating Expense: |  |  |  |  |  |  |  |  |
Research and Development Expense | 7,946 |  |  | 87 |  |  | 413 |  |  | — |  |  | 8,446 |
Selling and Administrative Expense | 32,064 |  |  | 20,072 |  |  | 21,820 |  |  | — |  |  | 73,956 |
Total Operating Expense | 40,010 |  |  | 20,159 |  |  | 22,233 |  |  | — |  |  | 82,402 |
(Loss) Profit from Operations | (5,902 | ) |  | 6,189 |  |  | (1,981 | ) |  | (972 | ) |  | (2,666 | )
Other Income (Expense): |  |  |  |  |  |  |  |  |
Equity in Earnings of Affiliates | 1,650 |  |  | 329 |  |  | — |  |  | (1,979 | ) |  | — |
Interest (Expense) Income, Net | (764 | ) |  | — |  |  | 54 |  |  | — |  |  | (710 | )
Intercompany Interest Income (Expense) | 1,469 |  |  | (1,428 | ) |  | (41 | ) |  | — |  |  | — |
Net Foreign Currency Transaction (Losses) Gains | (837 | ) |  | 2 |  |  | (362 | ) |  | — |  |  | (1,197 | )
Other (Expense) Income, Net | (157 | ) |  | (75 | ) |  | 264 |  |  | — |  |  | 32 |
Total Other Income (Expense), Net | 1,361 |  |  | (1,172 | ) |  | (85 | ) |  | (1,979 | ) |  | (1,875 | )
(Loss) Profit Before Income Taxes | (4,541 | ) |  | 5,017 |  |  | (2,066 | ) |  | (2,951 | ) |  | (4,541 | )
Income Tax (Benefit) Expense | (584 | ) |  | 1,571 |  |  | (1,024 | ) |  | (547 | ) |  | (584 | )
Net (Loss) Earnings | $ | (3,957 | ) |  | $ | 3,446 |  |  | $ | (1,042 | ) |  | $ | (2,404 | ) |  | $ | (3,957 | )
Condensed Consolidated Statements of Comprehensive Income |
Condensed Consolidated Statement of Comprehensive Income
For the three months ended March 31, 2018
(in thousands) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
Net Earnings Including Noncontrolling Interest | $ | 3,300 |  |  | $ | 2,980 |  |  | $ | 3,373 |  |  | $ | (6,353 | ) |  | $ | 3,300 |
Other Comprehensive Income (Loss): |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | 8,381 |  |  | (164 | ) |  | 7,853 |  |  | (7,689 | ) |  | 8,381 |
Pension and retiree medical benefits | 82 |  |  | — |  |  | 19 |  |  | (19 | ) |  | 82 |
Cash flow hedge | (2,715 | ) |  | — |  |  | — |  |  | — |  |  | (2,715 | )
Income Taxes: |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | (17 | ) |  | — |  |  | (16 | ) |  | 16 |  |  | (17 | )
Pension and retiree medical benefits | (151 | ) |  | — |  |  | — |  |  | — |  |  | (151 | )
Cash flow hedge | (501 | ) |  | — |  |  | — |  |  | — |  |  | (501 | )
Total Other Comprehensive Income, net of tax | 5,079 |  |  | (164 | ) |  | 7,856 |  |  | (7,692 | ) |  | 5,079 |
Total Comprehensive Income Including Noncontrolling Interest | 8,379 |  |  | 2,816 |  |  | 11,229 |  |  | (14,045 | ) |  | 8,379 |
Comprehensive Income Attributable to Noncontrolling Interest | 26 |  |  | — |  |  | 26 |  |  | (26 | ) |  | 26 |
Comprehensive Income Attributable to Tennant Company | $ | 8,353 |  |  | $ | 2,816 |  |  | $ | 11,203 |  |  | $ | (14,019 | ) |  | $ | 8,353 |
Condensed Consolidated Statement of Comprehensive Income
For the three months ended March 31, 2017
(in thousands) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
Net (Loss) Earnings | $ | (3,957 | ) |  | $ | 3,446 |  |  | $ | (1,042 | ) |  | $ | (2,404 | ) |  | $ | (3,957 | )
Other Comprehensive Income (Loss): |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | 2,400 |  |  | 101 |  |  | (20,697 | ) |  | 20,596 |  |  | 2,400 |
Pension and retiree medical benefits | 10 |  |  | — |  |  | — |  |  | — |  |  | 10 |
Cash flow hedge | (73 | ) |  | — |  |  | — |  |  | — |  |  | (73 | )
Income Taxes: |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | — |  |  | — |  |  | — |  |  | — |  |  | — |
Pension and retiree medical benefits | (18 | ) |  | — |  |  | (14 | ) |  | 14 |  |  | (18 | )
Cash flow hedge | 27 |  |  | — |  |  | — |  |  | — |  |  | 27 |
Total Other Comprehensive Income (Loss), net of tax | 2,346 |  |  | 101 |  |  | (20,711 | ) |  | 20,610 |  |  | 2,346 |
Comprehensive (Loss) Income | $ | (1,611 | ) |  | $ | 3,547 |  |  | $ | (21,753 | ) |  | $ | 18,206 |  |  | $ | (1,611 | )
Condensed Consolidated Balance Sheets |
Condensed Consolidated Balance Sheet
As of March 31, 2018
(in thousands) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
ASSETS |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents | $ | 14,767 |  |  | $ | 2,078 |  |  | $ | 37,156 |  |  | $ | — |  |  | $ | 54,001 |
Restricted Cash | — |  |  | — |  |  | 645 |  |  | — |  |  | 645 |
Net Receivables | 605 |  |  | 85,079 |  |  | 126,581 |  |  | — |  |  | 212,265 |
Intercompany Receivables | 54,461 |  |  | 131,279 |  |  | — |  |  | (185,740 | ) |  | — |
Inventories | 32,287 |  |  | 16,076 |  |  | 102,161 |  |  | (10,234 | ) |  | 140,290 |
Prepaid Expenses | 11,781 |  |  | 275 |  |  | 9,481 |  |  | — |  |  | 21,537 |
Other Current Assets | 3,864 |  |  | 404 |  |  | 1,674 |  |  | — |  |  | 5,942 |
Total Current Assets | 117,765 |  |  | 235,191 |  |  | 277,698 |  |  | (195,974 | ) |  | 434,680 |
Property, Plant and Equipment | 224,426 |  |  | 12,738 |  |  | 149,966 |  |  | — |  |  | 387,130 |
Accumulated Depreciation | (148,975 | ) |  | (6,502 | ) |  | (53,727 | ) |  | — |  |  | (209,204 | )
Property, Plant and Equipment, Net | 75,451 |  |  | 6,236 |  |  | 96,239 |  |  | — |  |  | 177,926 |
Deferred Income Taxes | 2,178 |  |  | 3,233 |  |  | 9,421 |  |  | — |  |  | 14,832 |
Investment in Affiliates | 408,509 |  |  | 11,562 |  |  | 22,260 |  |  | (442,331 | ) |  | — |
Intercompany Loans | 314,905 |  |  | — |  |  | 3,690 |  |  | (318,595 | ) |  | — |
Goodwill | 12,869 |  |  | 1,739 |  |  | 181,557 |  |  | — |  |  | 196,165 |
Intangible Assets, Net | 2,974 |  |  | 2,862 |  |  | 166,461 |  |  | — |  |  | 172,297 |
Other Assets | 9,083 |  |  | (427 | ) |  | 11,346 |  |  | — |  |  | 20,002 |
Total Assets | $ | 943,734 |  |  | $ | 260,396 |  |  | $ | 768,672 |  |  | $ | (956,900 | ) |  | $ | 1,015,902 |
LIABILITIES AND TOTAL EQUITY |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |
Current Portion of Long-Term Debt | $ | 29,460 |  |  | $ | — |  |  | $ | 1,442 |  |  | $ | — |  |  | $ | 30,902 |
Accounts Payable | 42,583 |  |  | 4,029 |  |  | 56,090 |  |  | — |  |  | 102,702 |
Intercompany Payables | 131,279 |  |  | 1,360 |  |  | 53,101 |  |  | (185,740 | ) |  | — |
Employee Compensation and Benefits | 8,976 |  |  | 8,194 |  |  | 17,504 |  |  | — |  |  | 34,674 |
Income Taxes Payable | 341 |  |  | — |  |  | 2,459 |  |  | — |  |  | 2,800 |
Other Current Liabilities | 27,447 |  |  | 10,780 |  |  | 32,066 |  |  | — |  |  | 70,293 |
Total Current Liabilities | 240,086 |  |  | 24,363 |  |  | 162,662 |  |  | (185,740 | ) |  | 241,371 |
Long-Term Liabilities: |  |  |  |  |  |  |  |  |
Long-Term Debt | 340,447 |  |  | — |  |  | 1,973 |  |  | — |  |  | 342,420 |
Intercompany Loans | 3,690 |  |  | 128,000 |  |  | 186,905 |  |  | (318,595 | ) |  | — |
Employee-Related Benefits | 12,576 |  |  | 1,869 |  |  | 8,949 |  |  | — |  |  | 23,394 |
Deferred Income Taxes | — |  |  | — |  |  | 53,412 |  |  | — |  |  | 53,412 |
Other Liabilities | 39,564 |  |  | 2,669 |  |  | 5,701 |  |  | — |  |  | 47,934 |
Total Long-Term Liabilities | 396,277 |  |  | 132,538 |  |  | 256,940 |  |  | (318,595 | ) |  | 467,160 |
Total Liabilities | 636,363 |  |  | 156,901 |  |  | 419,602 |  |  | (504,335 | ) |  | 708,531 |
Equity: |  |  |  |  |  |  |  |  |
Common Stock | 6,717 |  |  | — |  |  | 11,131 |  |  | (11,131 | ) |  | 6,717 |
Additional Paid-In Capital | 18,295 |  |  | 77,551 |  |  | 384,460 |  |  | (462,011 | ) |  | 18,295 |
Retained Earnings | 297,717 |  |  | 26,777 |  |  | (17,872 | ) |  | (8,905 | ) |  | 297,717 |
Accumulated Other Comprehensive Loss | (17,244 | ) |  | (833 | ) |  | (30,535 | ) |  | 31,368 |  |  | (17,244 | )
Total Tennant Company Shareholders' Equity | 305,485 |  |  | 103,495 |  |  | 347,184 |  |  | (450,679 | ) |  | 305,485 |
Noncontrolling Interest | 1,886 |  |  | — |  |  | 1,886 |  |  | (1,886 | ) |  | 1,886 |
Total Equity | 307,371 |  |  | 103,495 |  |  | 349,070 |  |  | (452,565 | ) |  | 307,371 |
Total Liabilities and Total Equity | $ | 943,734 |  |  | $ | 260,396 |  |  | $ | 768,672 |  |  | $ | (956,900 | ) |  | $ | 1,015,902 |
Condensed Consolidated Balance Sheet
As of December 31, 2017
(in thousands) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
ASSETS |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents | $ | 18,469 |  |  | $ | 507 |  |  | $ | 39,422 |  |  | $ | — |  |  | $ | 58,398 |
Restricted Cash | — |  |  | — |  |  | 653 |  |  | — |  |  | 653 |
Net Receivables | 683 |  |  | 88,629 |  |  | 120,204 |  |  | — |  |  | 209,516 |
Intercompany Receivables | 53,444 |  |  | 133,778 |  |  | — |  |  | (187,222 | ) |  | — |
Inventories | 29,450 |  |  | 12,695 |  |  | 94,542 |  |  | (8,993 | ) |  | 127,694 |
Prepaid Expenses | 8,774 |  |  | 1,172 |  |  | 9,405 |  |  | — |  |  | 19,351 |
Other Current Assets | 4,030 |  |  | — |  |  | 3,473 |  |  | — |  |  | 7,503 |
Total Current Assets | 114,850 |  |  | 236,781 |  |  | 267,699 |  |  | (196,215 | ) |  | 423,115 |
Property, Plant and Equipment | 225,064 |  |  | 12,155 |  |  | 145,549 |  |  | — |  |  | 382,768 |
Accumulated Depreciation | (146,320 | ) |  | (6,333 | ) |  | (50,097 | ) |  | — |  |  | (202,750 | )
Property, Plant and Equipment, Net | 78,744 |  |  | 5,822 |  |  | 95,452 |  |  | — |  |  | 180,018 |
Deferred Income Taxes | 1,308 |  |  | 2,669 |  |  | 7,157 |  |  | — |  |  | 11,134 |
Investment in Affiliates | 392,486 |  |  | 11,273 |  |  | 20,811 |  |  | (424,570 | ) |  | — |
Intercompany Loans | 304,822 |  |  | — |  |  | 4,983 |  |  | (309,805 | ) |  | — |
Goodwill | 12,869 |  |  | 1,739 |  |  | 171,436 |  |  | — |  |  | 186,044 |
Intangible Assets, Net | 2,105 |  |  | 2,898 |  |  | 167,344 |  |  | — |  |  | 172,347 |
Other Assets | 10,363 |  |  | — |  |  | 10,956 |  |  | — |  |  | 21,319 |
Total Assets | $ | 917,547 |  |  | $ | 261,182 |  |  | $ | 745,838 |  |  | $ | (930,590 | ) |  | $ | 993,977 |
LIABILITIES AND TOTAL EQUITY |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |
Current Portion of Long-Term Debt | $ | 29,413 |  |  | $ | — |  |  | $ | 1,470 |  |  | $ | — |  |  | $ | 30,883 |
Accounts Payable | 39,927 |  |  | 3,018 |  |  | 53,137 |  |  | — |  |  | 96,082 |
Intercompany Payables | 133,778 |  |  | 1,963 |  |  | 51,481 |  |  | (187,222 | ) |  | — |
Employee Compensation and Benefits | 8,311 |  |  | 10,355 |  |  | 18,591 |  |  | — |  |  | 37,257 |
Income Taxes Payable | 366 |  |  | — |  |  | 2,472 |  |  | — |  |  | 2,838 |
Other Current Liabilities | 20,183 |  |  | 15,760 |  |  | 33,504 |  |  | — |  |  | 69,447 |
Total Current Liabilities | 231,978 |  |  | 31,096 |  |  | 160,655 |  |  | (187,222 | ) |  | 236,507 |
Long-Term Liabilities: |  |  |  |  |  |  |  |  |
Long-Term Debt | 344,147 |  |  | — |  |  | 1,809 |  |  | — |  |  | 345,956 |
Intercompany Loans | — |  |  | 128,000 |  |  | 181,805 |  |  | (309,805 | ) |  | — |
Employee-Related Benefits | 11,160 |  |  | 3,992 |  |  | 8,715 |  |  | — |  |  | 23,867 |
Deferred Income Taxes | — |  |  | — |  |  | 53,225 |  |  | — |  |  | 53,225 |
Other Liabilities | 31,788 |  |  | 2,483 |  |  | 1,677 |  |  | — |  |  | 35,948 |
Total Long-Term Liabilities | 387,095 |  |  | 134,475 |  |  | 247,231 |  |  | (309,805 | ) |  | 458,996 |
Total Liabilities | 619,073 |  |  | 165,571 |  |  | 407,886 |  |  | (497,027 | ) |  | 695,503 |
Equity: |  |  |  |  |  |  |  |  |
Common Stock | 6,705 |  |  | — |  |  | 11,131 |  |  | (11,131 | ) |  | 6,705 |
Additional Paid-In Capital | 15,089 |  |  | 72,483 |  |  | 384,460 |  |  | (456,943 | ) |  | 15,089 |
Retained Earnings | 297,032 |  |  | 23,797 |  |  | (21,219 | ) |  | (2,578 | ) |  | 297,032 |
Accumulated Other Comprehensive Loss | (22,323 | ) |  | (669 | ) |  | (38,391 | ) |  | 39,060 |  |  | (22,323 | )
Total Tennant Company Shareholders' Equity | 296,503 |  |  | 95,611 |  |  | 335,981 |  |  | (431,592 | ) |  | 296,503 |
Noncontrolling Interest | 1,971 |  |  | — |  |  | 1,971 |  |  | (1,971 | ) |  | 1,971 |
Total Equity | 298,474 |  |  | 95,611 |  |  | 337,952 |  |  | (433,563 | ) |  | 298,474 |
Total Liabilities and Total Equity | $ | 917,547 |  |  | $ | 261,182 |  |  | $ | 745,838 |  |  | $ | (930,590 | ) |  | $ | 993,977 |
Condensed Consolidated Statement Cash Flows |
Condensed Consolidated Statement of Cash Flows
For the three months ended March 31, 2018
(in thousands) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |
Net Cash Provided by (Used in) Operating Activities | $ | 5,815 |  |  | $ | 1,800 |  |  | $ | (2,076 | ) |  | $ | — |  |  | $ | 5,539 |
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |
Purchases of Property, Plant and Equipment | (342 | ) |  | (229 | ) |  | (2,909 | ) |  | — |  |  | (3,480 | )
Proceeds from Disposals of Property, Plant and Equipment | 11 |  |  | — |  |  | 5 |  |  | — |  |  | 16 |
Proceeds from Principal Payments Received on Long-Term Note Receivable | — |  |  | — |  |  | 167 |  |  | — |  |  | 167 |
Purchase of Intangible Asset | (1,000 | ) |  | — |  |  | — |  |  | — |  |  | (1,000 | )
Loan (Payments) Borrowings from Subsidiaries | (1,294 | ) |  | — |  |  | — |  |  | 1,294 |  |  | — |
Net Cash Used in Investing Activities | (2,625 | ) |  | (229 | ) |  | (2,737 | ) |  | 1,294 |  |  | (4,297 | )
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |
Loan Borrowings (Payments) from Parent | — |  |  | — |  |  | 1,294 |  |  | (1,294 | ) |  | — |
Payments of Long-Term Debt | (4,000 | ) |  | — |  |  | (37 | ) |  | — |  |  | (4,037 | )
Change in Capital Lease Obligations | — |  |  | — |  |  | 81 |  |  | — |  |  | 81 |
Proceeds from Issuances of Common Stock | 794 |  |  | — |  |  | — |  |  | — |  |  | 794 |
Dividends Paid | (3,758 | ) |  | — |  |  | — |  |  | — |  |  | (3,758 | )
Net Cash (Used in) Provided by Financing Activities | (6,964 | ) |  | — |  |  | 1,338 |  |  | (1,294 | ) |  | (6,920 | )
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash | 72 |  |  | — |  |  | 1,201 |  |  | — |  |  | 1,273 |
Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash | (3,702 | ) |  | 1,571 |  |  | (2,274 | ) |  | — |  |  | (4,405 | )
Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 18,469 |  |  | 507 |  |  | 40,075 |  |  | — |  |  | 59,051 |
Cash, Cash Equivalents and Restricted Cash at End of Period | $ | 14,767 |  |  | $ | 2,078 |  |  | $ | 37,801 |  |  | $ | — |  |  | $ | 54,646 |
Condensed Consolidated Statement of Cash Flows
For the three months ended March 31, 2017
(in thousands) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |
Net Cash (Used in) Provided by Operating Activities | $ | (14,063 | ) |  | $ | 438 |  |  | $ | 2,516 |  |  | $ | — |  |  | $ | (11,109 | )
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |
Purchases of Property, Plant and Equipment | (1,188 | ) |  | — |  |  | (3,485 | ) |  | — |  |  | (4,673 | )
Proceeds from Disposals of Property, Plant and Equipment | 6 |  |  | — |  |  | 47 |  |  | — |  |  | 53 |
Issuance of Long-Term Note Receivable | — |  |  | — |  |  | (1,500 | ) |  | — |  |  | (1,500 | )
Acquisition of Business, Net of Cash Acquired | (304 | ) |  | — |  |  | — |  |  | — |  |  | (304 | )
Purchase of Intangible Asset | (2,500 | ) |  | — |  |  | — |  |  | — |  |  | (2,500 | )
Change in Investments in Subsidiaries | (3,500 | ) |  | — |  |  | — |  |  | 3,500 |  |  | — |
Net Cash Used in Investing Activities | (7,486 | ) |  | — |  |  | (4,938 | ) |  | 3,500 |  |  | (8,924 | )
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |
Change in Subsidiary Equity | — |  |  | — |  |  | 3,500 |  |  | (3,500 | ) |  | — |
Proceeds from Issuance of Long-Term Debt | 20,000 |  |  | — |  |  | — |  |  | — |  |  | 20,000 |
Payments of Long-Term Debt | (11,143 | ) |  | — |  |  | (8 | ) |  | — |  |  | (11,151 | )
Proceeds from Issuance of Common Stock | 1,655 |  |  | — |  |  | — |  |  | — |  |  | 1,655 |
Dividends Paid | (3,722 | ) |  | — |  |  | — |  |  | — |  |  | (3,722 | )
Net Cash Provided by Financing Activities | 6,790 |  |  | — |  |  | 3,492 |  |  | (3,500 | ) |  | 6,782 |
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash | (102 | ) |  | — |  |  | 432 |  |  | — |  |  | 330 |
Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash | (14,861 | ) |  | 438 |  |  | 1,502 |  |  | — |  |  | (12,921 | )
Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 38,484 |  |  | 226 |  |  | 19,840 |  |  | — |  |  | 58,550 |
Cash, Cash Equivalents and Restricted Cash at End of Period | $ | 23,623 |  |  | $ | 664 |  |  | $ | 21,342 |  |  | $ | — |  |  | $ | 45,629 |

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