XML 22 R10.htm IDEA: XBRL DOCUMENT v3.21.2
Note 1 - Summary of Significant Accounting Policies
9 Months Ended
Sep. 30, 2021
Notes to Financial Statements  
Basis of Presentation and Significant Accounting Policies [Text Block]

1.

Summary of Significant Accounting Policies

 

Tennant Company (the "Company", "we," "us" or "our") is a world leader in designing, manufacturing and marketing solutions that empower customers to achieve quality cleaning performance, significantly reduce environmental impact and help create a cleaner, safer, healthier world.

 

Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with the Securities and Exchange Commission (“SEC”) requirements for interim reporting. In our opinion, the consolidated financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary for the fair presentation of our financial position and results of operations.

 

These statements should be read in conjunction with the consolidated financial statements and notes included in our annual report on Form 10-K for the year ended December 31, 2020. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year.

 

Reclassification – We reclassified $1.2 million and $3.5 million of costs from selling and administrative expense to cost of sales in the consolidated statements of income for the three and nine months ended September 30, 2020, respectively. These reclassifications were made as part of a global alignment of cost across all regions.

 

We documented the summary of significant accounting policies in the notes to consolidated financial statements in our annual report on Form 10-K for the year ended December 31, 2020. There have been no material changes to our accounting policies since the filing of that report.