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v3.20.1

Separate Financial Information of Guarantor Subsidiaries (Tables) | 3 Months Ended
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Mar. 31, 2020
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, 2020
(in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
Net Sales | $ | 116.9 |  |  | $ | 150.5 |  |  | $ | 121.3 |  |  | $ | (136.6 | ) |  | $ | 252.1 |
Cost of Sales | 76.4 |  |  | 125.5 |  |  | 82.5 |  |  | (136.4 | ) |  | 148.0 |
Gross Profit | 40.5 |  |  | 25.0 |  |  | 38.8 |  |  | (0.2 | ) |  | 104.1 |
Operating Expense: |  |  |  |  |  |  |  |  |
Research and Development Expense | 5.9 |  |  | 0.3 |  |  | 1.2 |  |  | — |  |  | 7.4 |
Selling and Administrative Expense | 27.4 |  |  | 18.6 |  |  | 36.3 |  |  | — |  |  | 82.3 |
Total Operating Expense | 33.3 |  |  | 18.9 |  |  | 37.5 |  |  | — |  |  | 89.7 |
Profit from Operations | 7.2 |  |  | 6.1 |  |  | 1.3 |  |  | (0.2 | ) |  | 14.4 |
Other Income (Expense): |  |  |  |  |  |  |  |  |
Equity in Earnings of Affiliates | — |  |  | 0.5 |  |  | 0.4 |  |  | (0.9 | ) |  | — |
Interest (Expense) Income, Net | (4.2 | ) |  | — |  |  | — |  |  | — |  |  | (4.2 | )
Intercompany Interest Income (Expense) | 3.4 |  |  | (1.4 | ) |  | (2.0 | ) |  | — |  |  | — |
Net Foreign Currency Transaction Loss (Gain) | — |  |  | (0.1 | ) |  | (4.0 | ) |  | — |  |  | (4.1 | )
Other (Expense) Income, Net | (0.1 | ) |  | (0.3 | ) |  | 0.6 |  |  | — |  |  | 0.2 |
Total Other Expense, Net | (0.9 | ) |  | (1.3 | ) |  | (5.0 | ) |  | (0.9 | ) |  | (8.1 | )
Profit Before Income Taxes | 6.3 |  |  | 4.8 |  |  | (3.7 | ) |  | (1.1 | ) |  | 6.3 |
Income Tax Expense (Benefit) | 1.1 |  |  | 1.1 |  |  | (0.1 | ) |  | (1.0 | ) |  | 1.1 |
Net Earnings Including Noncontrolling Interest | 5.2 |  |  | 3.7 |  |  | (3.6 | ) |  | (0.1 | ) |  | 5.2 |
Net Earnings Attributable to Tennant Company | $ | 5.2 |  |  | $ | 3.7 |  |  | $ | (3.6 | ) |  | $ | (0.1 | ) |  | $ | 5.2 |
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 Loss (Gain) | — |  |  | — |  |  | 0.2 |  |  | — |  |  | 0.2 |
Other (Expense) Income, Net | (0.2 | ) |  | (0.4 | ) |  | 0.4 |  |  | — |  |  | (0.2 | )
Total Other Income (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 (Benefit) | 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 Statements of Comprehensive Income |
Condensed Consolidated Statement of Comprehensive Income (Loss)
For the three months ended March 31, 2020
(in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
Net Earnings Including Noncontrolling Interest | $ | 5.2 |  |  | $ | 3.7 |  |  | $ | (3.6 | ) |  | $ | (0.1 | ) |  | $ | 5.2 |
Other Comprehensive Loss: |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | (11.3 | ) |  | (0.3 | ) |  | (20.0 | ) |  | 20.3 |  |  | (11.3 | )
Cash flow hedge | 4.8 |  |  | — |  |  | — |  |  | — |  |  | 4.8 |
Income Taxes: |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | — |  |  | — |  |  | — |  |  | — |  |  | — |
Cash flow hedge | (1.1 | ) |  | — |  |  | — |  |  | — |  |  | (1.1 | )
Total Other Comprehensive Loss, net of tax | (7.6 | ) |  | (0.3 | ) |  | (20.0 | ) |  | 20.3 |  |  | (7.6 | )
Total Comprehensive (Loss) Income Including Noncontrolling Interest | (2.4 | ) |  | 3.4 |  |  | (23.6 | ) |  | 20.2 |  |  | (2.4 | )
Comprehensive (Loss) Income Attributable to Tennant Company | $ | (2.4 | ) |  | $ | 3.4 |  |  | $ | (23.6 | ) |  | $ | 20.2 |  |  | $ | (2.4 | )
Condensed Consolidated Statement of Comprehensive Income (Loss)
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) Income, net of tax | (1.3 | ) |  | — |  |  | (21.6 | ) |  | 21.6 |  |  | (1.3 | )
Total Comprehensive (Loss) Income Including Noncontrolling Interest | 4.1 |  |  | 4.1 |  |  | (23.6 | ) |  | 19.5 |  |  | 4.1 |
Comprehensive (Loss) Income Attributable to Tennant Company | $ | 4.1 |  |  | $ | 4.1 |  |  | $ | (23.6 | ) |  | $ | 19.5 |  |  | $ | 4.1 |
Condensed Consolidated Balance Sheets |
Condensed Consolidated Balance Sheet
As of March 31, 2020
(in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
ASSETS |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash, Cash Equivalents, and Restricted Cash | $ | 150.3 |  |  | $ | 1.0 |  |  | $ | 40.8 |  |  | $ | — |  |  | $ | 192.1 |
Net Receivables | 1.4 |  |  | 95.5 |  |  | 110.2 |  |  | — |  |  | 207.1 |
Intercompany Receivables | 36.1 |  |  | 117.4 |  |  | — |  |  | (153.5 | ) |  | — |
Inventories | 38.5 |  |  | 18.0 |  |  | 111.4 |  |  | (12.7 | ) |  | 155.2 |
Prepaid and Other Current Assets | 14.7 |  |  | 0.9 |  |  | 15.0 |  |  | 0.2 |  |  | 30.8 |
Total Current Assets | 241.0 |  |  | 232.8 |  |  | 277.4 |  |  | (166.0 | ) |  | 585.2 |
Property, Plant and Equipment | 252.1 |  |  | 10.1 |  |  | 153.8 |  |  | — |  |  | 416.0 |
Accumulated Depreciation | (167.3 | ) |  | (4.4 | ) |  | (70.4 | ) |  | — |  |  | (242.1 | )
Property, Plant and Equipment, Net | 84.8 |  |  | 5.7 |  |  | 83.4 |  |  | — |  |  | 173.9 |
Operating Lease Assets | 4.9 |  |  | 10.2 |  |  | 27.7 |  |  | — |  |  | 42.8 |
Investment in Affiliates | 393.3 |  |  | 14.3 |  |  | 31.1 |  |  | (438.7 | ) |  | — |
Intercompany Loans | 295.5 |  |  | — |  |  | — |  |  | (295.5 | ) |  | — |
Goodwill | 12.9 |  |  | 1.7 |  |  | 176.6 |  |  | — |  |  | 191.2 |
Intangible Assets, Net | 3.0 |  |  | 2.4 |  |  | 124.2 |  |  | — |  |  | 129.6 |
Other Assets | 4.9 |  |  | 5.0 |  |  | 17.6 |  |  | — |  |  | 27.5 |
Total Assets | $ | 1,040.3 |  |  | $ | 272.1 |  |  | $ | 738.0 |  |  | $ | (900.2 | ) |  | $ | 1,150.2 |
LIABILITIES AND TOTAL EQUITY |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |
Current Portion of Long-Term Debt | $ | — |  |  | $ | — |  |  | $ | 1.1 |  |  | $ | — |  |  | $ | 1.1 |
Accounts Payable | 40.0 |  |  | 5.8 |  |  | 50.0 |  |  | — |  |  | 95.8 |
Intercompany Payables | 115.5 |  |  | — |  |  | 38.0 |  |  | (153.5 | ) |  | — |
Employee Compensation and Benefits | 9.6 |  |  | 7.9 |  |  | 22.7 |  |  | — |  |  | 40.2 |
Other Current Liabilities | 29.4 |  |  | 17.7 |  |  | 40.7 |  |  | 0.2 |  |  | 88.0 |
Total Current Liabilities | 194.5 |  |  | 31.4 |  |  | 152.5 |  |  | (153.3 | ) |  | 225.1 |
Long-Term Liabilities: |  |  |  |  |  |  |  |  |
Long-Term Debt | 461.4 |  |  | — |  |  | 1.1 |  |  | — |  |  | 462.5 |
Intercompany Loans | 2.9 |  |  | 128.0 |  |  | 164.5 |  |  | (295.4 | ) |  | — |
Long-Term Operating Lease Liabilities | 3.6 |  |  | 5.2 |  |  | 18.5 |  |  | — |  |  | 27.3 |
Employee-Related Benefits | 10.1 |  |  | 1.5 |  |  | 7.0 |  |  | — |  |  | 18.6 |
Deferred Income Taxes | — |  |  | — |  |  | 39.8 |  |  | — |  |  | 39.8 |
Other Liabilities | 9.1 |  |  | 2.9 |  |  | 6.2 |  |  | — |  |  | 18.2 |
Total Long-Term Liabilities | 487.1 |  |  | 137.6 |  |  | 237.1 |  |  | (295.4 | ) |  | 566.4 |
Total Liabilities | 681.6 |  |  | 169.0 |  |  | 389.6 |  |  | (448.7 | ) |  | 791.5 |
Equity: |  |  |  |  |  |  |  |  |
Common Stock | 6.9 |  |  | — |  |  | 11.1 |  |  | (11.1 | ) |  | 6.9 |
Additional Paid-In Capital | 49.4 |  |  | 77.6 |  |  | 417.4 |  |  | (495.0 | ) |  | 49.4 |
Retained Earnings | 347.1 |  |  | 26.9 |  |  | 2.4 |  |  | (29.3 | ) |  | 347.1 |
Accumulated Other Comprehensive Loss | (46.1 | ) |  | (1.4 | ) |  | (83.9 | ) |  | 85.3 |  |  | (46.1 | )
Total Tennant Company Shareholders' Equity | 357.3 |  |  | 103.1 |  |  | 347.0 |  |  | (450.1 | ) |  | 357.3 |
Noncontrolling Interest | 1.4 |  |  | — |  |  | 1.4 |  |  | (1.4 | ) |  | 1.4 |
Total Equity | 358.7 |  |  | 103.1 |  |  | 348.4 |  |  | (451.5 | ) |  | 358.7 |
Total Liabilities and Total Equity | $ | 1,040.3 |  |  | $ | 272.1 |  |  | $ | 738.0 |  |  | $ | (900.2 | ) |  | $ | 1,150.2 |
Condensed Consolidated Balance Sheet
As of December 31, 2019
(in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
ASSETS |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash, Cash Equivalents, and Restricted Cash | $ | 27.7 |  |  | $ | 1.3 |  |  | $ | 45.6 |  |  | $ | — |  |  | $ | 74.6 |
Net Receivables | 3.3 |  |  | 99.7 |  |  | 120.3 |  |  | — |  |  | 223.3 |
Intercompany Receivables | 35.7 |  |  | 137.7 |  |  | — |  |  | (173.4 | ) |  | — |
Inventories | 39.1 |  |  | 16.9 |  |  | 106.9 |  |  | (12.8 | ) |  | 150.1 |
Prepaid and Other Current Assets | 17.8 |  |  | 1.2 |  |  | 14.0 |  |  | — |  |  | 33.0 |
Total Current Assets | 123.6 |  |  | 256.8 |  |  | 286.8 |  |  | (186.2 | ) |  | 481.0 |
Property, Plant and Equipment | 246.7 |  |  | 10.0 |  |  | 155.8 |  |  | — |  |  | 412.5 |
Accumulated Depreciation | (164.3 | ) |  | (4.2 | ) |  | (70.7 | ) |  | — |  |  | (239.2 | )
Property, Plant and Equipment, Net | 82.4 |  |  | 5.8 |  |  | 85.1 |  |  | — |  |  | 173.3 |
Operating Lease Assets | 5.2 |  |  | 10.3 |  |  | 31.1 |  |  | — |  |  | 46.6 |
Investment in Affiliates | 420.7 |  |  | 14.1 |  |  | 39.2 |  |  | (474.0 | ) |  | — |
Intercompany Loans | 298.2 |  |  | — |  |  | — |  |  | (298.2 | ) |  | — |
Goodwill | 12.9 |  |  | 1.7 |  |  | 180.5 |  |  | — |  |  | 195.1 |
Intangible Assets, Net | 3.2 |  |  | 2.5 |  |  | 132.0 |  |  | — |  |  | 137.7 |
Other Assets | 4.9 |  |  | 4.4 |  |  | 19.9 |  |  | — |  |  | 29.2 |
Total Assets | $ | 951.1 |  |  | $ | 295.6 |  |  | $ | 774.6 |  |  | $ | (958.4 | ) |  | $ | 1,062.9 |
LIABILITIES AND TOTAL EQUITY |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |
Current Portion of Long-Term Debt | $ | 30.0 |  |  | $ | — |  |  | $ | 1.3 |  |  | $ | — |  |  | $ | 31.3 |
Accounts Payable | 39.4 |  |  | 5.1 |  |  | 49.6 |  |  | — |  |  | 94.1 |
Intercompany Payables | 137.5 |  |  | — |  |  | 35.9 |  |  | (173.4 | ) |  | — |
Employee Compensation and Benefits | 19.3 |  |  | 17.5 |  |  | 26.7 |  |  | — |  |  | 63.5 |
Other Current Liabilities | 24.9 |  |  | 20.5 |  |  | 40.6 |  |  | — |  |  | 86.0 |
Total Current Liabilities | 251.1 |  |  | 43.1 |  |  | 154.1 |  |  | (173.4 | ) |  | 274.9 |
Long-Term Liabilities: |  |  |  |  |  |  |  |  |
Long-Term Debt | 306.2 |  |  | — |  |  | 1.3 |  |  | — |  |  | 307.5 |
Intercompany Loans | 2.1 |  |  | 128.0 |  |  | 168.1 |  |  | (298.2 | ) |  | — |
Long-Term Operating Lease Liabilities | 4.0 |  |  | 5.3 |  |  | 21.0 |  |  | — |  |  | 30.3 |
Employee-Related Benefits | 10.4 |  |  | 1.4 |  |  | 7.6 |  |  | — |  |  | 19.4 |
Deferred Income Taxes | — |  |  | — |  |  | 41.7 |  |  | — |  |  | 41.7 |
Other Liabilities | 16.0 |  |  | 3.0 |  |  | 8.8 |  |  | — |  |  | 27.8 |
Total Long-Term Liabilities | 338.7 |  |  | 137.7 |  |  | 248.5 |  |  | (298.2 | ) |  | 426.7 |
Total Liabilities | 589.8 |  |  | 180.8 |  |  | 402.6 |  |  | (471.6 | ) |  | 701.6 |
Equity: |  |  |  |  |  |  |  |  |
Common Stock | 6.9 |  |  | — |  |  | 11.1 |  |  | (11.1 | ) |  | 6.9 |
Additional Paid-In Capital | 45.5 |  |  | 77.6 |  |  | 417.4 |  |  | (495.0 | ) |  | 45.5 |
Retained Earnings | 346.0 |  |  | 38.4 |  |  | 6.0 |  |  | (44.4 | ) |  | 346.0 |
Accumulated Other Comprehensive Loss | (38.5 | ) |  | (1.2 | ) |  | (63.9 | ) |  | 65.1 |  |  | (38.5 | )
Total Tennant Company Shareholders' Equity | 359.9 |  |  | 114.8 |  |  | 370.6 |  |  | (485.4 | ) |  | 359.9 |
Noncontrolling Interest | 1.4 |  |  | — |  |  | 1.4 |  |  | (1.4 | ) |  | 1.4 |
Total Equity | 361.3 |  |  | 114.8 |  |  | 372.0 |  |  | (486.8 | ) |  | 361.3 |
Total Liabilities and Total Equity | $ | 951.1 |  |  | $ | 295.6 |  |  | $ | 774.6 |  |  | $ | (958.4 | ) |  | $ | 1,062.9 |
Condensed Consolidated Statement Cash Flows |
Condensed Consolidated Statement of Cash Flows
For the three months ended March 31, 2020
(in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Tennant Company
OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |
Net Cash Provided by (Used in) Operating Activities | $ | 4.0 |  |  | $ | (0.2 | ) |  | $ | 4.9 |  |  | $ | — |  |  | $ | 8.7 |
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |
Purchases of Property, Plant and Equipment | (6.2 | ) |  | (0.1 | ) |  | (6.1 | ) |  | — |  |  | (12.4 | )
Proceeds from Disposals of Property, Plant, and Equipment | 0.1 |  |  | — |  |  | — |  |  | — |  |  | 0.1 |
Purchase of Intangible Assets | — |  |  | — |  |  | (0.1 | ) |  | — |  |  | (0.1 | )
Loan Payments to Parent | — |  |  | — |  |  | (0.9 | ) |  | 0.9 |  |  | — |
Net Cash Used in Investing Activities | (6.1 | ) |  | (0.1 | ) |  | (7.1 | ) |  | 0.9 |  |  | (12.4 | )
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |
Proceeds from Credit Facility Borrowings | 125.0 |  |  | — |  |  | — |  |  | — |  |  | 125.0 |
Loan Payments from Subsidiaries | 0.9 |  |  | — |  |  | — |  |  | (0.9 | ) |  | — |
Repayments of Debt | — |  |  | — |  |  | (0.3 | ) |  | — |  |  | (0.3 | )
Change in Finance Lease Obligations | — |  |  | — |  |  | (0.1 | ) |  | — |  |  | (0.1 | )
Proceeds from Issuances of Common Stock | 2.4 |  |  | — |  |  | — |  |  | — |  |  | 2.4 |
Dividends Paid | (4.0 | ) |  | — |  |  | — |  |  | — |  |  | (4.0 | )
Net Cash Provided by (Used in) Financing Activities | 124.3 |  |  | — |  |  | (0.4 | ) |  | (0.9 | ) |  | 123.0 |
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash | 0.4 |  |  | — |  |  | (2.2 | ) |  | — |  |  | (1.8 | )
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash | 122.6 |  |  | (0.3 | ) |  | (4.8 | ) |  | — |  |  | 117.5 |
Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 27.7 |  |  | 1.3 |  |  | 45.6 |  |  | — |  |  | 74.6 |
Cash, Cash Equivalents and Restricted Cash at End of Period | $ | 150.3 |  |  | $ | 1.0 |  |  | $ | 40.8 |  |  | $ | — |  |  | $ | 192.1 |
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 Business, Net of Cash, Cash Equivalents and Restricted Cash Acquired | — |  |  | — |  |  | (9.0 | ) |  | — |  |  | (9.0 | )
Purchase of Intangible Asset | — |  |  | — |  |  | (0.2 | ) |  | — |  |  | (0.2 | )
Loan Payments to 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 |
Repayment of Debt | (4.0 | ) |  | — |  |  | (4.0 | ) |  | — |  |  | (8.0 | )
Change in Finance Lease Obligations | — |  |  | — |  |  | (0.1 | ) |  | — |  |  | (0.1 | )
Loan Payments from Subsidiaries | 0.2 |  |  | — |  |  | — |  |  | (0.2 | ) |  | — |
Proceeds from Issuance of Common Stock | 0.6 |  |  | — |  |  | — |  |  | — |  |  | 0.6 |
Dividends Paid | (4.0 | ) |  | — |  |  | — |  |  | — |  |  | (4.0 | )
Net Cash Provided by (Used in) 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 Increase (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 |

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