XML 52 R40.htm IDEA: XBRL DOCUMENT
v3.19.2

Separate Financial Information of Guarantor Subsidiaries (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Condensed Consolidated Statements of Operations |
Condensed Consolidated Statement of Earnings
For the three months ended June 30, 2019
(in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
Net Sales | $ | 141.0 |  |  | $ | 175.0 |  |  | $ | 147.8 |  |  | $ | (164.1 | ) |  | $ | 299.7 |
Cost of Sales | 92.5 |  |  | 148.1 |  |  | 101.0 |  |  | (162.7 | ) |  | 178.9 |
Gross Profit | 48.5 |  |  | 26.9 |  |  | 46.8 |  |  | (1.4 | ) |  | 120.8 |
Operating Expense: |  |  |  |  |  |  |  |  |
Research and Development Expense | 6.8 |  |  | 0.3 |  |  | 1.3 |  |  | — |  |  | 8.4 |
Selling and Administrative Expense | 27.6 |  |  | 19.6 |  |  | 45.3 |  |  | — |  |  | 92.5 |
Total Operating Expense | 34.4 |  |  | 19.9 |  |  | 46.6 |  |  | — |  |  | 100.9 |
Profit from Operations | 14.1 |  |  | 7.0 |  |  | 0.2 |  |  | (1.4 | ) |  | 19.9 |
Other Income (Expense): |  |  |  |  |  |  |  |  |
Equity in Earnings of Affiliates | 4.4 |  |  | 0.6 |  |  | 0.9 |  |  | (5.9 | ) |  | — |
Interest (Expense) Income, Net | (4.5 | ) |  | — |  |  | — |  |  | — |  |  | (4.5 | )
Intercompany Interest Income (Expense) | 3.3 |  |  | (1.4 | ) |  | (1.9 | ) |  | — |  |  | — |
Net Foreign Currency Transaction Gains (Losses) | 0.2 |  |  | — |  |  | (0.4 | ) |  | — |  |  | (0.2 | )
Other Expense, Net | (0.9 | ) |  | (0.3 | ) |  | 2.7 |  |  | (0.1 | ) |  | 1.4 |
Total Other Expense, Net | 2.5 |  |  | (1.1 | ) |  | 1.3 |  |  | (6.0 | ) |  | (3.3 | )
Profit Before Income Taxes | 16.6 |  |  | 5.9 |  |  | 1.5 |  |  | (7.4 | ) |  | 16.6 |
Income Tax Expense (Benefit) | 1.8 |  |  | 1.9 |  |  | (1.2 | ) |  | (0.7 | ) |  | 1.8 |
Net Earnings Including Noncontrolling Interest | 14.8 |  |  | 4.0 |  |  | 2.7 |  |  | (6.7 | ) |  | 14.8 |
Net Earnings Attributable to Tennant Company | $ | 14.8 |  |  | $ | 4.0 |  |  | $ | 2.7 |  |  | $ | (6.7 | ) |  | $ | 14.8 |
Condensed Consolidated Statement of Earnings
For the six months ended June 30, 2019
(in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
Net Sales | $ | 257.5 |  |  | $ | 323.3 |  |  | $ | 281.1 |  |  | $ | (299.8 | ) |  | $ | 562.1 |
Cost of Sales | 168.9 |  |  | 271.0 |  |  | 189.8 |  |  | (296.6 | ) |  | 333.1 |
Gross Profit | 88.6 |  |  | 52.3 |  |  | 91.3 |  |  | (3.2 | ) |  | 229.0 |
Operating Expense: |  |  |  |  |  |  |  |  |
Research and Development Expense | 12.4 |  |  | 0.5 |  |  | 2.7 |  |  | — |  |  | 15.6 |
Selling and Administrative Expense | 54.9 |  |  | 38.6 |  |  | 89.2 |  |  | — |  |  | 182.7 |
Total Operating Expense | 67.3 |  |  | 39.1 |  |  | 91.9 |  |  | — |  |  | 198.3 |
Profit from Operations | 21.3 |  |  | 13.2 |  |  | (0.6 | ) |  | (3.2 | ) |  | 30.7 |
Other Income (Expense): |  |  |  |  |  |  |  |  |
Equity in Earnings of Affiliates | 4.7 |  |  | 1.4 |  |  | 2.3 |  |  | (8.4 | ) |  | — |
Interest (Expense) Income, Net | (8.8 | ) |  | — |  |  | — |  |  | — |  |  | (8.8 | )
Intercompany Interest Income (Expense) | 6.9 |  |  | (2.8 | ) |  | (4.1 | ) |  | — |  |  | — |
Net Foreign Currency Transaction Gains (Losses) | 0.2 |  |  | — |  |  | (0.2 | ) |  | — |  |  | — |
Other Expense, Net | (1.1 | ) |  | (0.7 | ) |  | 3.2 |  |  | (0.1 | ) |  | 1.3 |
Total Other Expense, Net | 1.9 |  |  | (2.1 | ) |  | 1.2 |  |  | (8.5 | ) |  | (7.5 | )
Profit Before Income Taxes | 23.2 |  |  | 11.1 |  |  | 0.6 |  |  | (11.7 | ) |  | 23.2 |
Income Tax Expense (Benefit) | 3.0 |  |  | 3.0 |  |  | (0.2 | ) |  | (2.8 | ) |  | 3.0 |
Net Earnings Including Noncontrolling Interest | 20.2 |  |  | 8.1 |  |  | 0.8 |  |  | (8.9 | ) |  | 20.2 |
Net Earnings Attributable to Tennant Company | $ | 20.2 |  |  | $ | 8.1 |  |  | $ | 0.8 |  |  | $ | (8.9 | ) |  | $ | 20.2 |
Condensed Consolidated Statement of Earnings
For the three months ended June 30, 2018
(in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
Net Sales | $ | 126.3 |  |  | $ | 163.9 |  |  | $ | 151.1 |  |  | $ | (149.1 | ) |  | $ | 292.2 |
Cost of Sales | 85.1 |  |  | 137.2 |  |  | 101.8 |  |  | (149.1 | ) |  | 175.0 |
Gross Profit | 41.2 |  |  | 26.7 |  |  | 49.3 |  |  | — |  |  | 117.2 |
Operating Expense: |  |  |  |  |  |  |  |  |
Research and Development Expense | 6.4 |  |  | 0.4 |  |  | 1.1 |  |  | — |  |  | 7.9 |
Selling and Administrative Expense | 28.6 |  |  | 19.3 |  |  | 42.4 |  |  | — |  |  | 90.3 |
Total Operating Expense | 35.0 |  |  | 19.7 |  |  | 43.5 |  |  | — |  |  | 98.2 |
Profit from Operations | 6.2 |  |  | 7.0 |  |  | 5.8 |  |  | — |  |  | 19.0 |
Other Income (Expense): |  |  |  |  |  |  |  |  |
Equity in Earnings of Affiliates | 10.0 |  |  | 0.6 |  |  | 1.4 |  |  | (12.0 | ) |  | — |
Interest (Expense) Income, Net | (5.4 | ) |  | — |  |  | 0.3 |  |  | — |  |  | (5.1 | )
Intercompany Interest Income (Expense) | 3.6 |  |  | (1.4 | ) |  | (2.2 | ) |  | — |  |  | — |
Net Foreign Currency Transaction (Losses) Gains | (0.6 | ) |  | — |  |  | 0.3 |  |  | — |  |  | (0.3 | )
Other (Expense) Income, Net | (0.7 | ) |  | (0.6 | ) |  | 0.8 |  |  | — |  |  | (0.5 | )
Total Other Income (Expense), Net | 6.9 |  |  | (1.4 | ) |  | 0.6 |  |  | (12.0 | ) |  | (5.9 | )
Profit Before Income Taxes | 13.1 |  |  | 5.6 |  |  | 6.4 |  |  | (12.0 | ) |  | 13.1 |
Income Tax Expense (Benefit) | 0.4 |  |  | 1.4 |  |  | — |  |  | (1.4 | ) |  | 0.4 |
Net Earnings Including Noncontrolling Interest | 12.7 |  |  | 4.2 |  |  | 6.4 |  |  | (10.6 | ) |  | 12.7 |
Net Earnings Attributable to Tennant Company | $ | 12.7 |  |  | $ | 4.2 |  |  | $ | 6.4 |  |  | $ | (10.6 | ) |  | $ | 12.7 |
Condensed Consolidated Statement of Earnings
For the six months ended June 30, 2018
(in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
Net Sales | $ | 240.0 |  |  | $ | 312.3 |  |  | $ | 291.5 |  |  | $ | (278.8 | ) |  | $ | 565.0 |
Cost of Sales | 162.3 |  |  | 260.3 |  |  | 193.6 |  |  | (277.5 | ) |  | 338.7 |
Gross Profit | 77.7 |  |  | 52.0 |  |  | 97.9 |  |  | (1.3 | ) |  | 226.3 |
Operating Expense: |  |  |  |  |  |  |  |  |
Research and Development Expense | 12.5 |  |  | 0.6 |  |  | 2.8 |  |  | — |  |  | 15.9 |
Selling and Administrative Expense | 57.7 |  |  | 39.0 |  |  | 84.3 |  |  | — |  |  | 181.0 |
Total Operating Expense | 70.2 |  |  | 39.6 |  |  | 87.1 |  |  | — |  |  | 196.9 |
Profit from Operations | 7.5 |  |  | 12.4 |  |  | 10.8 |  |  | (1.3 | ) |  | 29.4 |
Other Income (Expense): |  |  |  |  |  |  |  |  |
Equity in Earnings of Affiliates | 14.4 |  |  | 1.1 |  |  | 4.0 |  |  | (19.5 | ) |  | — |
Interest (Expense) Income, Net | (10.5 | ) |  | — |  |  | 0.4 |  |  | — |  |  | (10.1 | )
Intercompany Interest Income (Expense) | 7.3 |  |  | (2.8 | ) |  | (4.5 | ) |  | — |  |  | — |
Net Foreign Currency Transaction (Losses) Gains | (0.3 | ) |  | — |  |  | (0.8 | ) |  | — |  |  | (1.1 | )
Other (Expense) Income, Net | (0.9 | ) |  | (1.2 | ) |  | 1.5 |  |  | (0.1 | ) |  | (0.7 | )
Total Other Income (Expense), Net | 10.0 |  |  | (2.9 | ) |  | 0.6 |  |  | (19.6 | ) |  | (11.9 | )
Profit Before Income Taxes | 17.5 |  |  | 9.5 |  |  | 11.4 |  |  | (20.9 | ) |  | 17.5 |
Income Tax Expense | 1.4 |  |  | 2.3 |  |  | 1.6 |  |  | (3.9 | ) |  | 1.4 |
Net Earnings Including Noncontrolling Interest | 16.1 |  |  | 7.2 |  |  | 9.8 |  |  | (17.0 | ) |  | 16.1 |
Net Earnings Attributable to Noncontrolling Interest | $ | 0.1 |  |  | $ | — |  |  | $ | 0.1 |  |  | $ | (0.1 | ) |  | $ | 0.1 |
Net Earnings Attributable to Tennant Company | $ | 16.0 |  |  | $ | 7.2 |  |  | $ | 9.7 |  |  | $ | (16.9 | ) |  | $ | 16.0 |
Condensed Consolidated Statements of Comprehensive Income |
Condensed Consolidated Statement of Comprehensive Income (Loss)
For the three months ended June 30, 2019
(in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
Net Earnings Including Noncontrolling Interest | $ | 14.8 |  |  | $ | 4.0 |  |  | $ | 2.7 |  |  | $ | (6.7 | ) |  | $ | 14.8 |
Other Comprehensive Income (Loss): |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | 1.3 |  |  | (0.2 | ) |  | (21.9 | ) |  | 22.1 |  |  | 1.3 |
Pension and retiree medical benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |
Cash flow hedge | 1.3 |  |  | — |  |  | — |  |  | — |  |  | 1.3 |
Income Taxes: |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | 0.1 |  |  | — |  |  | 0.9 |  |  | (0.9 | ) |  | 0.1 |
Pension and retiree medical benefits | — |  |  | — |  |  | 0.3 |  |  | (0.3 | ) |  | — |
Cash flow hedge | (0.3 | ) |  | — |  |  | — |  |  | — |  |  | (0.3 | )
Total Other Comprehensive Income (Loss), net of tax | 2.4 |  |  | (0.2 | ) |  | (20.7 | ) |  | 20.9 |  |  | 2.4 |
Total Comprehensive Income (Loss) Including Noncontrolling Interest | 17.2 |  |  | 3.8 |  |  | (18.0 | ) |  | 14.2 |  |  | 17.2 |
Comprehensive Income (Loss) Attributable to Tennant Company | $ | 17.2 |  |  | $ | 3.8 |  |  | $ | (18.0 | ) |  | $ | 14.2 |  |  | $ | 17.2 |
Condensed Consolidated Statement of Comprehensive Income (Loss)
For the six months ended June 30, 2019
(in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
Net Earnings Including Noncontrolling Interest | $ | 20.2 |  |  | $ | 8.1 |  |  | $ | 0.8 |  |  | $ | (8.9 | ) |  | $ | 20.2 |
Other Comprehensive Loss: |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | (0.9 | ) |  | (0.2 | ) |  | (0.7 | ) |  | 0.9 |  |  | (0.9 | )
Pension and retiree medical benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |
Cash flow hedge | 2.7 |  |  | — |  |  | — |  |  | — |  |  | 2.7 |
Income Taxes: |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | — |  |  | — |  |  | 1.0 |  |  | (1.0 | ) |  | — |
Pension and retiree medical benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |
Cash flow hedge | (0.7 | ) |  | — |  |  | — |  |  | — |  |  | (0.7 | )
Total Other Comprehensive Income (Loss), net of tax | 1.1 |  |  | (0.2 | ) |  | 0.3 |  |  | (0.1 | ) |  | 1.1 |
Total Comprehensive Income (Loss) Including Noncontrolling Interest | 21.3 |  |  | 7.9 |  |  | 1.1 |  |  | (9.0 | ) |  | 21.3 |
Comprehensive Income (Loss) Attributable to Tennant Company | $ | 21.3 |  |  | $ | 7.9 |  |  | $ | 1.1 |  |  | $ | (9.0 | ) |  | $ | 21.3 |
Condensed Consolidated Statement of Comprehensive (Loss) Income
For the three months ended June 30, 2018
(in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
Net Earnings Including Noncontrolling Interest | $ | 12.7 |  |  | $ | 4.2 |  |  | $ | 6.4 |  |  | $ | (10.6 | ) |  | $ | 12.7 |
Other Comprehensive Loss: |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | (19.5 | ) |  | (0.3 | ) |  | (24.3 | ) |  | 24.6 |  |  | (19.5 | )
Pension and retiree medical benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |
Cash flow hedge | 1.4 |  |  | — |  |  | — |  |  | — |  |  | 1.4 |
Income Taxes: |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | 0.3 |  |  | — |  |  | 0.3 |  |  | (0.3 | ) |  | 0.3 |
Pension and retiree medical benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |
Cash flow hedge | (0.3 | ) |  | — |  |  | — |  |  | — |  |  | (0.3 | )
Total Other Comprehensive Loss, net of tax | (18.1 | ) |  | (0.3 | ) |  | (24.0 | ) |  | 24.3 |  |  | (18.1 | )
Total Comprehensive (Loss) Income Including Noncontrolling Interest | (5.4 | ) |  | 3.9 |  |  | (17.6 | ) |  | 13.7 |  |  | (5.4 | )
Comprehensive (Loss) Income Attributable to Tennant Company | $ | (5.4 | ) |  | $ | 3.9 |  |  | $ | (17.6 | ) |  | $ | 13.7 |  |  | $ | (5.4 | )
Condensed Consolidated Statement of Comprehensive Income (Loss)
For the six months ended June 30, 2018
(in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
Net Earnings Including Noncontrolling Interest | $ | 16.1 |  |  | $ | 7.2 |  |  | $ | 9.8 |  |  | $ | (17.0 | ) |  | $ | 16.1 |
Other Comprehensive Loss: |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | (11.1 | ) |  | (0.5 | ) |  | (16.4 | ) |  | 16.9 |  |  | (11.1 | )
Pension and retiree medical benefits | 0.1 |  |  | — |  |  | — |  |  | — |  |  | 0.1 |
Cash flow hedge | (1.3 | ) |  | — |  |  | — |  |  | — |  |  | (1.3 | )
Income Taxes: |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | 0.2 |  |  | — |  |  | 0.2 |  |  | (0.2 | ) |  | 0.2 |
Pension and retiree medical benefits | (0.2 | ) |  | — |  |  | — |  |  | — |  |  | (0.2 | )
Cash flow hedge | (0.8 | ) |  | — |  |  | — |  |  | — |  |  | (0.8 | )
Total Other Comprehensive Loss, net of tax | (13.1 | ) |  | (0.5 | ) |  | (16.2 | ) |  | 16.7 |  |  | (13.1 | )
Total Comprehensive Income (Loss) Including Noncontrolling Interest | 3.0 |  |  | 6.7 |  |  | (6.4 | ) |  | (0.3 | ) |  | 3.0 |
Comprehensive Income Attributable to Noncontrolling Interest | 0.1 |  |  | — |  |  | 0.1 |  |  | (0.1 | ) |  | 0.1 |
Comprehensive Income (Loss) Attributable to Tennant Company | $ | 2.9 |  |  | $ | 6.7 |  |  | $ | (6.5 | ) |  | $ | (0.2 | ) |  | $ | 2.9 |
Condensed Consolidated Balance Sheets |
Condensed Consolidated Balance Sheet
As of June 30, 2019
(in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
ASSETS |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash, Cash Equivalents, and Restricted Cash | $ | 11.7 |  |  | $ | 1.0 |  |  | $ | 42.7 |  |  | $ | — |  |  | $ | 55.4 |
Net Receivables | 1.0 |  |  | 104.6 |  |  | 126.4 |  |  | — |  |  | 232.0 |
Intercompany Receivables | 31.8 |  |  | 119.0 |  |  | — |  |  | (150.8 | ) |  | — |
Inventories | 42.5 |  |  | 18.8 |  |  | 111.7 |  |  | (13.5 | ) |  | 159.5 |
Prepaid and Other Current Assets | 19.2 |  |  | 0.8 |  |  | 12.2 |  |  | 0.3 |  |  | 32.5 |
Total Current Assets | 106.2 |  |  | 244.2 |  |  | 293.0 |  |  | (164.0 | ) |  | 479.4 |
Property, Plant and Equipment | 248.2 |  |  | 13.2 |  |  | 152.6 |  |  | — |  |  | 414.0 |
Accumulated Depreciation | (166.9 | ) |  | (6.9 | ) |  | (66.9 | ) |  | — |  |  | (240.7 | )
Property, Plant and Equipment, Net | 81.3 |  |  | 6.3 |  |  | 85.7 |  |  | — |  |  | 173.3 |
Operating Lease Assets | 5.7 |  |  | 9.8 |  |  | 29.9 |  |  | — |  |  | 45.4 |
Investment in Affiliates | 409.5 |  |  | 13.1 |  |  | 40.0 |  |  | (462.6 | ) |  | — |
Intercompany Loans | 300.5 |  |  | — |  |  | — |  |  | (300.5 | ) |  | — |
Goodwill | 12.9 |  |  | 1.7 |  |  | 178.7 |  |  | — |  |  | 193.3 |
Intangible Assets, Net | 3.6 |  |  | 2.6 |  |  | 143.9 |  |  | — |  |  | 150.1 |
Other Assets | 8.4 |  |  | 3.2 |  |  | 17.7 |  |  | — |  |  | 29.3 |
Total Assets | $ | 928.1 |  |  | $ | 280.9 |  |  | $ | 788.9 |  |  | $ | (927.1 | ) |  | $ | 1,070.8 |
LIABILITIES AND TOTAL EQUITY |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |
Current Portion of Long-Term Debt | $ | 7.0 |  |  | $ | — |  |  | $ | 1.3 |  |  | $ | — |  |  | $ | 8.3 |
Accounts Payable | 39.9 |  |  | 5.5 |  |  | 53.3 |  |  | — |  |  | 98.7 |
Intercompany Payables | 118.7 |  |  | — |  |  | 32.1 |  |  | (150.8 | ) |  | — |
Employee Compensation and Benefits | 13.2 |  |  | 12.0 |  |  | 25.0 |  |  | — |  |  | 50.2 |
Other Current Liabilities | 29.0 |  |  | 19.3 |  |  | 53.9 |  |  | 0.3 |  |  | 102.5 |
Total Current Liabilities | 207.8 |  |  | 36.8 |  |  | 165.6 |  |  | (150.5 | ) |  | 259.7 |
Long-Term Liabilities: |  |  |  |  |  |  |  |  |
Long-Term Debt | 344.8 |  |  | — |  |  | 1.3 |  |  | — |  |  | 346.1 |
Intercompany Loans | 3.6 |  |  | 128.0 |  |  | 168.9 |  |  | (300.5 | ) |  | — |
Long-Term Operating Lease Liabilities | 4.7 |  |  | 4.6 |  |  | 19.8 |  |  | — |  |  | 29.1 |
Employee-Related Benefits | 11.1 |  |  | 1.6 |  |  | 7.9 |  |  | — |  |  | 20.6 |
Deferred Income Taxes | — |  |  | — |  |  | 45.5 |  |  | — |  |  | 45.5 |
Other Liabilities | 20.9 |  |  | 3.0 |  |  | 10.7 |  |  | — |  |  | 34.6 |
Total Long-Term Liabilities | 385.1 |  |  | 137.2 |  |  | 254.1 |  |  | (300.5 | ) |  | 475.9 |
Total Liabilities | 592.9 |  |  | 174.0 |  |  | 419.7 |  |  | (451.0 | ) |  | 735.6 |
Equity: |  |  |  |  |  |  |  |  |
Common Stock | 6.8 |  |  | — |  |  | 11.1 |  |  | (11.1 | ) |  | 6.8 |
Additional Paid-In Capital | 34.5 |  |  | 77.6 |  |  | 417.4 |  |  | (495.0 | ) |  | 34.5 |
Retained Earnings | 328.5 |  |  | 30.7 |  |  | (1.7 | ) |  | (29.0 | ) |  | 328.5 |
Accumulated Other Comprehensive Loss | (36.1 | ) |  | (1.4 | ) |  | (59.1 | ) |  | 60.5 |  |  | (36.1 | )
Total Tennant Company Shareholders' Equity | 333.7 |  |  | 106.9 |  |  | 367.7 |  |  | (474.6 | ) |  | 333.7 |
Noncontrolling Interest | 1.5 |  |  | — |  |  | 1.5 |  |  | (1.5 | ) |  | 1.5 |
Total Equity | 335.2 |  |  | 106.9 |  |  | 369.2 |  |  | (476.1 | ) |  | 335.2 |
Total Liabilities and Total Equity | $ | 928.1 |  |  | $ | 280.9 |  |  | $ | 788.9 |  |  | $ | (927.1 | ) |  | $ | 1,070.8 |
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 six months ended June 30, 2019
(in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |
Net Cash Provided by (Used in) Operating Activities | $ | 10.1 |  |  | $ | (0.5 | ) |  | $ | 1.3 |  |  | $ | — |  |  | $ | 10.9 |
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |
Purchases of Property, Plant and Equipment | (19.9 | ) |  | (0.1 | ) |  | (5.4 | ) |  | — |  |  | (25.4 | )
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 | — |  |  | — |  |  | (8.9 | ) |  | — |  |  | (8.9 | )
Purchase of Intangible Assets | — |  |  | — |  |  | (0.4 | ) |  | — |  |  | (0.4 | )
Loan Payments from Parent | — |  |  | — |  |  | (0.4 | ) |  | 0.4 |  |  | — |
Net Cash Used in Investing Activities | (19.9 | ) |  | (0.1 | ) |  | (15.0 | ) |  | 0.4 |  |  | (34.6 | )
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |
Proceeds from Credit Facility Borrowings | 25.0 |  |  | — |  |  | — |  |  | — |  |  | 25.0 |
Repayments of Debt | (21.8 | ) |  | — |  |  | (4.1 | ) |  | — |  |  | (25.9 | )
Change in Finance Lease Obligations | — |  |  | — |  |  | (0.1 | ) |  | — |  |  | (0.1 | )
Loan Payments to Subsidiaries | 0.4 |  |  | — |  |  | — |  |  | (0.4 | ) |  | — |
Proceeds from Issuances of Common Stock | 1.2 |  |  | — |  |  | — |  |  | — |  |  | 1.2 |
Purchase of Noncontrolling Owner Interest | — |  |  | — |  |  | (0.5 | ) |  | — |  |  | (0.5 | )
Dividends Paid | (8.0 | ) |  | — |  |  | — |  |  | — |  |  | (8.0 | )
Net Cash Used in Financing Activities | (3.2 | ) |  | — |  |  | (4.7 | ) |  | (0.4 | ) |  | (8.3 | )
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash | (0.1 | ) |  | — |  |  | 1.4 |  |  | — |  |  | 1.3 |
Net Decrease in Cash, Cash Equivalents and Restricted Cash | (13.1 | ) |  | (0.6 | ) |  | (17.0 | ) |  | — |  |  | (30.7 | )
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 | $ | 11.7 |  |  | $ | 1.0 |  |  | $ | 42.7 |  |  | $ | — |  |  | $ | 55.4 |
Condensed Consolidated Statement of Cash Flows
For the six months ended June 30, 2018
(in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |
Net Cash Provided by (Used in) Operating Activities | $ | 27.0 |  |  | $ | 1.4 |  |  | $ | (2.4 | ) |  | $ | — |  |  | $ | 26.0 |
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |
Purchases of Property, Plant and Equipment | (2.3 | ) |  | — |  |  | (5.4 | ) |  | — |  |  | (7.7 | )
Proceeds from Disposal of Property, Plant and Equipment | — |  |  | — |  |  | 0.1 |  |  | — |  |  | 0.1 |
Proceeds from Principal Payments Received on Long-Term Note Receivable | — |  |  | — |  |  | 0.7 |  |  | — |  |  | 0.7 |
Purchase of Intangible Asset | (1.0 | ) |  | — |  |  | (0.2 | ) |  | — |  |  | (1.2 | )
Loan Payments from Parent | — |  |  | — |  |  | 1.5 |  |  | (1.5 | ) |  | — |
Net Cash Used in Investing Activities | (3.3 | ) |  | — |  |  | (3.3 | ) |  | (1.5 | ) |  | (8.1 | )
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |
Loan Payments to Subsidiaries | (1.5 | ) |  | — |  |  | — |  |  | 1.5 |  |  | — |
Repayment of Debt | (18.0 | ) |  | — |  |  | (0.1 | ) |  | — |  |  | (18.1 | )
Change in Finance Lease Obligations | — |  |  | — |  |  | 0.1 |  |  | — |  |  | 0.1 |
Proceeds from Issuance of Common Stock | 3.7 |  |  | — |  |  | — |  |  | — |  |  | 3.7 |
Dividends Paid | (7.6 | ) |  | — |  |  | — |  |  | — |  |  | (7.6 | )
Net Cash (Used in) Provided by Financing Activities | (23.4 | ) |  | — |  |  | — |  |  | 1.5 |  |  | (21.9 | )
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash | 0.1 |  |  | — |  |  | (0.7 | ) |  | — |  |  | (0.6 | )
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash | 0.4 |  |  | 1.4 |  |  | (6.4 | ) |  | — |  |  | (4.6 | )
Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 18.5 |  |  | 0.5 |  |  | 40.0 |  |  | — |  |  | 59.0 |
Cash, Cash Equivalents and Restricted Cash at End of Period | $ | 18.9 |  |  | $ | 1.9 |  |  | $ | 33.6 |  |  | $ | — |  |  | $ | 54.4 |

X
- Definition Tabular disclosure of condensed statement of comprehensive income (loss) including, but not limited to, statements of comprehensive income (loss) of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_CondensedStatementOfComprehensiveIncomeTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration