TENNANT CO
For the period ended Dec 31, 2025. Filed Feb 24, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 24, 2026
TNC$75.50+1.4%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(In millions)
| December 31 | 2025 | 2024 | 2023 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net income | $43.8 | $83.7 | $109.5 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
| Depreciation expense | 45.0 | 40.1 | 36.4 |
| Amortization expense | 13.7 | 15.0 | 14.7 |
| Deferred income tax expense (benefit) | 4.2 | (9.8) | (26.9) |
| Share-based compensation expense | 10.4 | 11.9 | 11.6 |
| Bad debt and returns expense | 7.1 | 3.4 | 3.4 |
| Other, net | 1.3 | 0.6 | 1.3 |
| Changes in operating assets and liabilities: | |||
| Receivables | 4.1 | (15.0) | 4.1 |
| Inventories | (21.7) | (33.0) | 14.3 |
| Accounts payable | (1.9) | 15.4 | (15.3) |
| Employee compensation and benefits | (13.8) | (5.2) | 22.3 |
| Other assets and liabilities | (27.2) | (17.4) | 13.0 |
| Net cash provided by operating activities | 65.0 | 89.7 | 188.4 |
| INVESTING ACTIVITIES | |||
| Purchases of property, plant and equipment | (21.7) | (20.9) | (22.8) |
| Proceeds from sale of property, plant and equipment | 1.5 | — | — |
| Purchase of investment | — | (32.1) | — |
| Payments made in connection with business acquisition, net of cash acquired | (3.2) | (25.7) | — |
| Investment in leased assets | (0.4) | (0.5) | (1.2) |
| Cash received from leased assets | 1.1 | 0.8 | 0.8 |
| Net cash used in investing activities | (22.7) | (78.4) | (23.2) |
| FINANCING ACTIVITIES | |||
| Proceeds from borrowings | 85.0 | 40.9 | 20.0 |
| Repayments of borrowings | (10.8) | (42.5) | (120.0) |
| Payment of debt financing costs | — | (2.2) | — |
| Change in finance lease obligations | — | — | 0.2 |
| Proceeds from exercise of stock options, net of employee tax withholdings obligations of $3.1, $3.8 and $1.7, respectively | (2.5) | 19.6 | 19.0 |
| Dividends paid | (21.9) | (21.4) | (20.1) |
| Repurchases of common stock | (88.5) | (19.6) | (21.7) |
| Net cash used in financing activities | (38.7) | (25.2) | (122.6) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 3.0 | (3.4) | (2.9) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 6.6 | (17.3) | 39.7 |
| Cash, cash equivalents and restricted cash at beginning of year | 99.8 | 117.1 | 77.4 |
| Cash, cash equivalents and restricted cash at end of year | $106.4 | $99.8 | $117.1 |
| SUPPLEMENTAL CASH FLOW INFORMATION | |||
|---|---|---|---|
| Years ended December 31 | 2025 | 2024 | 2023 |
| Cash paid for income taxes | $13.4 | $30.2 | $39.5 |
| Cash paid for interest, net of capitalized interest | $12.3 | $13.6 | $17.1 |
| Supplemental non-cash investing and financing activities: | |||
| Capital expenditures in accounts payable | $3.5 | $6.4 | $3.5 |
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