TENNANT CO
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
TNC$75.50+1.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Income
(In millions, except shares and per share data)
| Years ended December 31 | 2023 | 2022 | 2021 |
|---|---|---|---|
| Net sales | $1,243.6 | $1,092.2 | $1,090.8 |
| Cost of sales | 715.8 | 671.3 | 652.8 |
| Gross profit | 527.8 | 420.9 | 438.0 |
| Selling and administrative expense | 352.6 | 306.3 | 321.9 |
| Research and development expense | 36.6 | 31.1 | 32.2 |
| Gain on sale of assets | — | (3.7) | (9.8) |
| Operating income | 138.6 | 87.2 | 93.7 |
| Interest expense, net | (13.5) | (7.1) | (7.3) |
| Net foreign currency transaction gain (loss) | 0.3 | (1.2) | (0.7) |
| Loss on extinguishment of debt | — | — | (11.3) |
| Other (expense) income, net | (1.6) | 0.6 | (0.3) |
| Income before income taxes | 123.8 | 79.5 | 74.1 |
| Income tax expense | 14.3 | 13.2 | 9.2 |
| Net income | $109.5 | $66.3 | $64.9 |
| Net income per share | |||
| Basic | $5.92 | $3.58 | $3.51 |
| Diluted | $5.83 | $3.55 | $3.44 |
| Weighted average shares outstanding: | |||
| Basic | 18,509,523 | 18,494,356 | 18,499,674 |
| Diluted | 18,783,633 | 18,697,255 | 18,849,217 |
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