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v3.19.1

Separate Financial Information of Guarantor Subsidiaries (Tables) | 3 Months Ended
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Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Condensed Consolidated Statements of Operations |
Condensed Consolidated Statement of Earnings
For the three months ended March 31, 2019
(in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
Net Sales | $ | 116.5 |  |  | $ | 148.4 |  |  | $ | 133.3 |  |  | $ | (135.7 | ) |  | $ | 262.5 |
Cost of Sales | 76.5 |  |  | 123.0 |  |  | 88.8 |  |  | (134.0 | ) |  | 154.3 |
Gross Profit | 40.0 |  |  | 25.4 |  |  | 44.5 |  |  | (1.7 | ) |  | 108.2 |
Operating Expense: |  |  |  |  |  |  |  |  |
Research and Development Expense | 5.6 |  |  | 0.2 |  |  | 1.4 |  |  | — |  |  | 7.2 |
Selling and Administrative Expense | 27.2 |  |  | 19.0 |  |  | 44.0 |  |  | — |  |  | 90.2 |
Total Operating Expense | 32.8 |  |  | 19.2 |  |  | 45.4 |  |  | — |  |  | 97.4 |
Profit from Operations | 7.2 |  |  | 6.2 |  |  | (0.9 | ) |  | (1.7 | ) |  | 10.8 |
Other Income (Expense): |  |  |  |  |  |  |  |  |
Equity in Earnings of Affiliates | 0.3 |  |  | 0.8 |  |  | 1.4 |  |  | (2.5 | ) |  | — |
Interest (Expense) Income, Net | (4.2 | ) |  | — |  |  | — |  |  | — |  |  | (4.2 | )
Intercompany Interest Income (Expense) | 3.5 |  |  | (1.4 | ) |  | (2.1 | ) |  | — |  |  | — |
Net Foreign Currency Transaction Gains (Losses) | — |  |  | — |  |  | 0.2 |  |  | — |  |  | 0.2 |
Other Expense, Net | (0.2 | ) |  | (0.4 | ) |  | 0.4 |  |  | — |  |  | (0.2 | )
Total Other Expense, Net | (0.6 | ) |  | (1.0 | ) |  | (0.1 | ) |  | (2.5 | ) |  | (4.2 | )
Profit Before Income Taxes | 6.6 |  |  | 5.2 |  |  | (1.0 | ) |  | (4.2 | ) |  | 6.6 |
Income Tax Expense | 1.2 |  |  | 1.1 |  |  | 1.0 |  |  | (2.1 | ) |  | 1.2 |
Net Earnings Including Noncontrolling Interest | 5.4 |  |  | 4.1 |  |  | (2.0 | ) |  | (2.1 | ) |  | 5.4 |
Net Earnings Attributable to Tennant Company | $ | 5.4 |  |  | $ | 4.1 |  |  | $ | (2.0 | ) |  | $ | (2.1 | ) |  | $ | 5.4 |
Condensed Consolidated Statement of Earnings
For the three months ended March 31, 2018
(in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
Net Sales | $ | 113.7 |  |  | $ | 148.4 |  |  | $ | 140.4 |  |  | $ | (129.7 | ) |  | $ | 272.8 |
Cost of Sales | 77.2 |  |  | 123.1 |  |  | 91.8 |  |  | (128.4 | ) |  | 163.7 |
Gross Profit | 36.5 |  |  | 25.3 |  |  | 48.6 |  |  | (1.3 | ) |  | 109.1 |
Operating Expense: |  |  |  |  |  |  |  |  |
Research and Development Expense | 6.1 |  |  | 0.2 |  |  | 1.7 |  |  | — |  |  | 8.0 |
Selling and Administrative Expense | 29.1 |  |  | 19.7 |  |  | 41.9 |  |  | — |  |  | 90.7 |
Total Operating Expense | 35.2 |  |  | 19.9 |  |  | 43.6 |  |  | — |  |  | 98.7 |
Profit (Loss) from Operations | 1.3 |  |  | 5.4 |  |  | 5.0 |  |  | (1.3 | ) |  | 10.4 |
Other Income (Expense): |  |  |  |  |  |  |  |  |
Equity in Earnings of Affiliates | 4.4 |  |  | 0.5 |  |  | 2.6 |  |  | (7.5 | ) |  | — |
Interest Expense, Net | (5.1 | ) |  | — |  |  | 0.1 |  |  | — |  |  | (5.0 | )
Intercompany Interest Income (Expense) | 3.7 |  |  | (1.4 | ) |  | (2.3 | ) |  | — |  |  | — |
Net Foreign Currency Transaction Gains (Losses) | 0.4 |  |  | — |  |  | (1.1 | ) |  | — |  |  | (0.7 | )
Other Expense, Net | (0.3 | ) |  | (0.6 | ) |  | 0.6 |  |  | — |  |  | (0.3 | )
Total Other Expense, Net | 3.1 |  |  | (1.5 | ) |  | (0.1 | ) |  | (7.5 | ) |  | (6.0 | )
Profit Before Income Taxes | 4.4 |  |  | 3.9 |  |  | 4.9 |  |  | (8.8 | ) |  | 4.4 |
Income Tax Expense | 1.1 |  |  | 0.9 |  |  | 1.6 |  |  | (2.5 | ) |  | 1.1 |
Net Earnings Including Noncontrolling Interest | 3.3 |  |  | 3.0 |  |  | 3.3 |  |  | (6.3 | ) |  | 3.3 |
Net Earnings Attributable to Tennant Company | $ | 3.3 |  |  | $ | 3.0 |  |  | $ | 3.3 |  |  | $ | (6.3 | ) |  | $ | 3.3 |
Condensed Consolidated Statements of Comprehensive Income |
Condensed Consolidated Statement of Comprehensive Income
For the three months ended March 31, 2019
(in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
Net Earnings Including Noncontrolling Interest | $ | 5.4 |  |  | $ | 4.1 |  |  | $ | (2.0 | ) |  | $ | (2.1 | ) |  | $ | 5.4 |
Other Comprehensive Loss: |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | (2.3 | ) |  | — |  |  | (22.6 | ) |  | 22.6 |  |  | (2.3 | )
Pension and retiree medical benefits | — |  |  | — |  |  | 1.2 |  |  | (1.2 | ) |  | — |
Cash flow hedge | 1.4 |  |  | — |  |  | — |  |  | — |  |  | 1.4 |
Income Taxes: |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | (0.1 | ) |  | — |  |  | 0.1 |  |  | (0.1 | ) |  | (0.1 | )
Pension and retiree medical benefits | — |  |  | — |  |  | (0.3 | ) |  | 0.3 |  |  | — |
Cash flow hedge | (0.3 | ) |  | — |  |  | — |  |  | — |  |  | (0.3 | )
Total Other Comprehensive Loss, net of tax | (1.3 | ) |  | — |  |  | (21.6 | ) |  | 21.6 |  |  | (1.3 | )
Total Comprehensive Income (Loss) Including Noncontrolling Interest | 4.1 |  |  | 4.1 |  |  | (23.6 | ) |  | 19.5 |  |  | 4.1 |
Comprehensive Income (Loss) Attributable to Tennant Company | $ | 4.1 |  |  | $ | 4.1 |  |  | $ | (23.6 | ) |  | $ | 19.5 |  |  | $ | 4.1 |
Condensed Consolidated Statement of Comprehensive Income
For the three months ended March 31, 2018
(in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
Net Earnings (Loss) Including Noncontrolling Interest | $ | 3.3 |  |  | $ | 3.0 |  |  | $ | 3.3 |  |  | $ | (6.3 | ) |  | $ | 3.3 |
Other Comprehensive Income (Loss): |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | 8.4 |  |  | (0.2 | ) |  | 7.9 |  |  | (7.7 | ) |  | 8.4 |
Pension and retiree medical benefits | 0.1 |  |  | — |  |  | — |  |  | — |  |  | 0.1 |
Cash flow hedge | (2.7 | ) |  | — |  |  | — |  |  | — |  |  | (2.7 | )
Income Taxes: |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | — |  |  | — |  |  | — |  |  | — |  |  | — |
Pension and retiree medical benefits | (0.2 | ) |  | — |  |  | — |  |  | — |  |  | (0.2 | )
Cash flow hedge | (0.5 | ) |  | — |  |  | — |  |  | — |  |  | (0.5 | )
Total Other Comprehensive Income (Loss), net of tax | 5.1 |  |  | (0.2 | ) |  | 7.9 |  |  | (7.7 | ) |  | 5.1 |
Total Comprehensive Income Including Noncontrolling Interest | 8.4 |  |  | 2.8 |  |  | 11.2 |  |  | (14.0 | ) |  | 8.4 |
Comprehensive Income Attributable to Tennant Company | $ | 8.4 |  |  | $ | 2.8 |  |  | $ | 11.2 |  |  | $ | (14.0 | ) |  | $ | 8.4 |
Condensed Consolidated Balance Sheets |
Condensed Consolidated Balance Sheet
As of March 31, 2019
(in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
ASSETS |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash, Cash Equivalents, and Restricted Cash | $ | 9.8 |  |  | $ | 1.1 |  |  | $ | 36.0 |  |  | $ | — |  |  | $ | 46.9 |
Net Receivables | 1.0 |  |  | 89.7 |  |  | 123.0 |  |  | — |  |  | 213.7 |
Intercompany Receivables | 30.6 |  |  | 125.1 |  |  | — |  |  | (155.7 | ) |  | — |
Inventories | 41.6 |  |  | 17.9 |  |  | 110.5 |  |  | (11.8 | ) |  | 158.2 |
Prepaid and Other Current Assets | 20.0 |  |  | 0.9 |  |  | 12.1 |  |  | 0.6 |  |  | 33.6 |
Total Current Assets | 103.0 |  |  | 234.7 |  |  | 281.6 |  |  | (166.9 | ) |  | 452.4 |
Property, Plant and Equipment | 246.2 |  |  | 13.1 |  |  | 146.4 |  |  | — |  |  | 405.7 |
Accumulated Depreciation | (163.4 | ) |  | (6.6 | ) |  | (60.8 | ) |  | — |  |  | (230.8 | )
Property, Plant and Equipment, Net | 82.8 |  |  | 6.5 |  |  | 85.6 |  |  | — |  |  | 174.9 |
Operating Lease Assets | 1.0 |  |  | 9.9 |  |  | 29.8 |  |  | — |  |  | 40.7 |
Investment in Affiliates | 403.4 |  |  | 12.8 |  |  | 38.9 |  |  | (455.1 | ) |  | — |
Intercompany Loans | 298.4 |  |  | — |  |  | — |  |  | (298.4 | ) |  | — |
Goodwill | 12.9 |  |  | 1.7 |  |  | 175.1 |  |  | — |  |  | 189.7 |
Intangible Assets, Net | 3.8 |  |  | 2.6 |  |  | 149.6 |  |  | — |  |  | 156.0 |
Other Assets | 6.1 |  |  | 3.3 |  |  | 17.6 |  |  | — |  |  | 27.0 |
Total Assets | $ | 911.4 |  |  | $ | 271.5 |  |  | $ | 778.2 |  |  | $ | (920.4 | ) |  | $ | 1,040.7 |
LIABILITIES AND TOTAL EQUITY |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |
Current Portion of Long-Term Debt | $ | 28.9 |  |  | $ | — |  |  | $ | 1.2 |  |  | $ | — |  |  | $ | 30.1 |
Accounts Payable | 36.2 |  |  | 5.1 |  |  | 53.6 |  |  | — |  |  | 94.9 |
Intercompany Payables | 125.7 |  |  | — |  |  | 30.0 |  |  | (155.7 | ) |  | — |
Employee Compensation and Benefits | 9.9 |  |  | 8.1 |  |  | 23.6 |  |  | — |  |  | 41.6 |
Other Current Liabilities | 26.7 |  |  | 18.4 |  |  | 54.9 |  |  | 0.6 |  |  | 100.6 |
Total Current Liabilities | 227.4 |  |  | 31.6 |  |  | 163.3 |  |  | (155.1 | ) |  | 267.2 |
Long-Term Liabilities: |  |  |  |  |  |  |  |  |
Long-Term Debt | 328.6 |  |  | — |  |  | 1.5 |  |  | — |  |  | 330.1 |
Intercompany Loans | 3.4 |  |  | 128.0 |  |  | 167.0 |  |  | (298.4 | ) |  | — |
Long-Term Operating Lease Liabilities | 0.5 |  |  | 4.8 |  |  | 19.4 |  |  | — |  |  | 24.7 |
Employee-Related Benefits | 11.3 |  |  | 1.5 |  |  | 7.8 |  |  | — |  |  | 20.6 |
Deferred Income Taxes | — |  |  | — |  |  | 46.2 |  |  | — |  |  | 46.2 |
Other Liabilities | 20.0 |  |  | 3.1 |  |  | 8.6 |  |  | — |  |  | 31.7 |
Total Long-Term Liabilities | 363.8 |  |  | 137.4 |  |  | 250.5 |  |  | (298.4 | ) |  | 453.3 |
Total Liabilities | 591.2 |  |  | 169.0 |  |  | 413.8 |  |  | (453.5 | ) |  | 720.5 |
Equity: |  |  |  |  |  |  |  |  |
Common Stock | 6.8 |  |  | — |  |  | 11.1 |  |  | (11.1 | ) |  | 6.8 |
Additional Paid-In Capital | 32.0 |  |  | 77.6 |  |  | 416.9 |  |  | (494.5 | ) |  | 32.0 |
Retained Earnings | 317.7 |  |  | 26.5 |  |  | (4.5 | ) |  | (22.0 | ) |  | 317.7 |
Accumulated Other Comprehensive Loss | (38.5 | ) |  | (1.6 | ) |  | (61.3 | ) |  | 62.9 |  |  | (38.5 | )
Total Tennant Company Shareholders' Equity | 318.0 |  |  | 102.5 |  |  | 362.2 |  |  | (464.7 | ) |  | 318.0 |
Noncontrolling Interest | 2.2 |  |  | — |  |  | 2.2 |  |  | (2.2 | ) |  | 2.2 |
Total Equity | 320.2 |  |  | 102.5 |  |  | 364.4 |  |  | (466.9 | ) |  | 320.2 |
Total Liabilities and Total Equity | $ | 911.4 |  |  | $ | 271.5 |  |  | $ | 778.2 |  |  | $ | (920.4 | ) |  | $ | 1,040.7 |
Condensed Consolidated Balance Sheet
As of December 31, 2018
(in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
ASSETS |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash, Cash Equivalents, and Restricted Cash | $ | 24.8 |  |  | $ | 1.6 |  |  | $ | 59.7 |  |  | $ | — |  |  | $ | 86.1 |
Net Receivables | 0.9 |  |  | 94.8 |  |  | 120.5 |  |  | — |  |  | 216.2 |
Intercompany Receivables | 30.0 |  |  | 148.9 |  |  | — |  |  | (178.9 | ) |  | — |
Inventories | 37.1 |  |  | 13.4 |  |  | 94.7 |  |  | (10.1 | ) |  | 135.1 |
Prepaid and Other Current Assets | 17.5 |  |  | 1.2 |  |  | 13.0 |  |  | (0.5 | ) |  | 31.2 |
Total Current Assets | 110.3 |  |  | 259.9 |  |  | 287.9 |  |  | (189.5 | ) |  | 468.6 |
Property, Plant and Equipment | 229.8 |  |  | 12.7 |  |  | 144.1 |  |  | — |  |  | 386.6 |
Accumulated Depreciation | (159.4 | ) |  | (6.9 | ) |  | (56.9 | ) |  | — |  |  | (223.2 | )
Property, Plant and Equipment, Net | 70.4 |  |  | 5.8 |  |  | 87.2 |  |  | — |  |  | 163.4 |
Operating Lease Assets | — |  |  | — |  |  | — |  |  | — |  |  | — |
Investment in Affiliates | 421.0 |  |  | 12.1 |  |  | 20.8 |  |  | (453.9 | ) |  | — |
Intercompany Loans | 301.6 |  |  | — |  |  | 3.2 |  |  | (304.8 | ) |  | — |
Goodwill | 12.9 |  |  | 1.7 |  |  | 168.1 |  |  | — |  |  | 182.7 |
Intangible Assets, Net | 4.0 |  |  | 2.7 |  |  | 139.8 |  |  | — |  |  | 146.5 |
Other Assets | 11.0 |  |  | 3.1 |  |  | 17.2 |  |  | — |  |  | 31.3 |
Total Assets | $ | 931.2 |  |  | $ | 285.3 |  |  | $ | 724.2 |  |  | $ | (948.2 | ) |  | $ | 992.5 |
LIABILITIES AND TOTAL EQUITY |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |
Current Portion of Long-Term Debt | $ | 21.8 |  |  | $ | — |  |  | $ | 5.2 |  |  | $ | — |  |  | $ | 27.0 |
Accounts Payable | 41.0 |  |  | 5.0 |  |  | 52.4 |  |  | — |  |  | 98.4 |
Intercompany Payables | 149.5 |  |  | — |  |  | 29.5 |  |  | (179.0 | ) |  | — |
Employee Compensation and Benefits | 14.4 |  |  | 17.2 |  |  | 24.5 |  |  | — |  |  | 56.1 |
Other Current Liabilities | 22.8 |  |  | 17.6 |  |  | 27.5 |  |  | (0.5 | ) |  | 67.4 |
Total Current Liabilities | 249.5 |  |  | 39.8 |  |  | 139.1 |  |  | (179.5 | ) |  | 248.9 |
Long-Term Liabilities: |  |  |  |  |  |  |  |  |
Long-Term Debt | 326.5 |  |  | — |  |  | 1.6 |  |  | — |  |  | 328.1 |
Intercompany Loans | 3.3 |  |  | 128.1 |  |  | 173.5 |  |  | (304.9 | ) |  | — |
Long-Term Operating Lease Liabilities | — |  |  | — |  |  | — |  |  | — |  |  | — |
Employee-Related Benefits | 11.0 |  |  | 2.0 |  |  | 8.1 |  |  | — |  |  | 21.1 |
Deferred Income Taxes | — |  |  | — |  |  | 46.0 |  |  | — |  |  | 46.0 |
Other Liabilities | 24.6 |  |  | 2.9 |  |  | 4.6 |  |  | — |  |  | 32.1 |
Total Long-Term Liabilities | 365.4 |  |  | 133.0 |  |  | 233.8 |  |  | (304.9 | ) |  | 427.3 |
Total Liabilities | 614.9 |  |  | 172.8 |  |  | 372.9 |  |  | (484.4 | ) |  | 676.2 |
Equity: |  |  |  |  |  |  |  |  |
Common Stock | 6.8 |  |  | — |  |  | 11.1 |  |  | (11.1 | ) |  | 6.8 |
Additional Paid-In Capital | 28.5 |  |  | 77.5 |  |  | 399.5 |  |  | (477.0 | ) |  | 28.5 |
Retained Earnings | 316.3 |  |  | 36.6 |  |  | (2.5 | ) |  | (34.1 | ) |  | 316.3 |
Accumulated Other Comprehensive Loss | (37.2 | ) |  | (1.6 | ) |  | (58.7 | ) |  | 60.3 |  |  | (37.2 | )
Total Tennant Company Shareholders' Equity | 314.4 |  |  | 112.5 |  |  | 349.4 |  |  | (461.9 | ) |  | 314.4 |
Noncontrolling Interest | 1.9 |  |  | — |  |  | 1.9 |  |  | (1.9 | ) |  | 1.9 |
Total Equity | 316.3 |  |  | 112.5 |  |  | 351.3 |  |  | (463.8 | ) |  | 316.3 |
Total Liabilities and Total Equity | $ | 931.2 |  |  | $ | 285.3 |  |  | $ | 724.2 |  |  | $ | (948.2 | ) |  | $ | 992.5 |
Condensed Consolidated Statement Cash Flows |
Condensed Consolidated Statement of Cash Flows
For the three months ended March 31, 2019
(in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |
Net Cash Provided by (Used in) Operating Activities | $ | (4.2 | ) |  | $ | (0.4 | ) |  | $ | (7.0 | ) |  | $ | — |  |  | $ | (11.6 | )
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |
Purchases of Property, Plant and Equipment | (16.6 | ) |  | (0.1 | ) |  | (3.8 | ) |  | — |  |  | (20.5 | )
Proceeds from Principal Payments Received on Long-Term Note Receivable | — |  |  | — |  |  | 0.1 |  |  | — |  |  | 0.1 |
Acquisition of Businesses, Net of Cash, Cash Equivalents and Restricted Cash Acquired | — |  |  | — |  |  | (9.0 | ) |  | — |  |  | (9.0 | )
Purchase of Intangible Assets | — |  |  | — |  |  | (0.2 | ) |  | — |  |  | (0.2 | )
Loan Payments from Parent | — |  |  | — |  |  | (0.2 | ) |  | 0.2 |  |  | — |
Net Cash Used in Investing Activities | (16.6 | ) |  | (0.1 | ) |  | (13.1 | ) |  | 0.2 |  |  | (29.6 | )
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |
Proceeds from Credit Facility Borrowings | 13.0 |  |  | — |  |  | — |  |  | — |  |  | 13.0 |
Repayments of Debt | (4.0 | ) |  | — |  |  | (4.0 | ) |  | — |  |  | (8.0 | )
Change in Finance Lease Obligations | — |  |  | — |  |  | (0.1 | ) |  | — |  |  | (0.1 | )
Loan Payments to Subsidiaries | 0.2 |  |  | — |  |  | — |  |  | (0.2 | ) |  | — |
Proceeds from Issuances of Common Stock | 0.6 |  |  | — |  |  | — |  |  | — |  |  | 0.6 |
Dividends Paid | (4.0 | ) |  | — |  |  | — |  |  | — |  |  | (4.0 | )
Net Cash (Used in) Provided by Financing Activities | 5.8 |  |  | — |  |  | (4.1 | ) |  | (0.2 | ) |  | 1.5 |
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash | — |  |  | — |  |  | 0.5 |  |  | — |  |  | 0.5 |
Net Decrease in Cash, Cash Equivalents and Restricted Cash | (15.0 | ) |  | (0.5 | ) |  | (23.7 | ) |  | — |  |  | (39.2 | )
Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 24.8 |  |  | 1.6 |  |  | 59.7 |  |  | — |  |  | 86.1 |
Cash, Cash Equivalents and Restricted Cash at End of Period | $ | 9.8 |  |  | $ | 1.1 |  |  | $ | 36.0 |  |  | $ | — |  |  | $ | 46.9 |
Condensed Consolidated Statement of Cash Flows
For the three months ended March 31, 2018
(in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |
Net Cash (Used in) Provided by Operating Activities | $ | 5.8 |  |  | $ | 1.8 |  |  | $ | (2.1 | ) |  | $ | — |  |  | $ | 5.5 |
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |
Purchases of Property, Plant and Equipment | (0.4 | ) |  | (0.2 | ) |  | (2.9 | ) |  | — |  |  | (3.5 | )
Proceeds from Principal Payments Received on Long-Term Note Receivable | — |  |  | — |  |  | 0.2 |  |  | — |  |  | 0.2 |
Purchase of Intangible Asset | (1.0 | ) |  | — |  |  | — |  |  | — |  |  | (1.0 | )
Loan (Payments) Borrowings from Subsidiaries | (1.3 | ) |  | — |  |  | — |  |  | 1.3 |  |  | — |
Net Cash Used in Investing Activities | (2.7 | ) |  | (0.2 | ) |  | (2.7 | ) |  | 1.3 |  |  | (4.3 | )
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |
Loan Borrowings (Payments) from Parent | — |  |  | — |  |  | 1.3 |  |  | (1.3 | ) |  | — |
Repayment of Debt | (3.9 | ) |  | — |  |  | — |  |  | — |  |  | (3.9 | )
Change in Finance Lease Obligations | — |  |  | — |  |  | — |  |  | — |  |  | — |
Payments of Debt Issuance Costs | — |  |  | — |  |  | — |  |  | — |  |  | — |
Proceeds from Issuance of Common Stock | 0.8 |  |  | — |  |  | — |  |  | — |  |  | 0.8 |
Dividends Paid | (3.8 | ) |  | — |  |  | — |  |  | — |  |  | (3.8 | )
Net Cash (Used in) Provided by Financing Activities | (6.9 | ) |  | — |  |  | 1.3 |  |  | (1.3 | ) |  | (6.9 | )
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash | 0.1 |  |  | — |  |  | 1.2 |  |  | — |  |  | 1.3 |
Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash | (3.7 | ) |  | 1.6 |  |  | (2.3 | ) |  | — |  |  | (4.4 | )
Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 18.4 |  |  | 0.5 |  |  | 40.1 |  |  | — |  |  | 59.0 |
Cash, Cash Equivalents and Restricted Cash at End of Period | $ | 14.7 |  |  | $ | 2.1 |  |  | $ | 37.8 |  |  | $ | — |  |  | $ | 54.6 |

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