Acquisitions and Divestitures (Tables)

9 Months Ended

Sep. 30, 2018

Sep. 30, 2017

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the final fair value measurement of the assets acquired and liabilities assumed as of the date of acquisition:



ASSETS
Receivables	$	39,984
Inventories	46,442
Other Current Assets	7,456
Assets Held for Sale	2,247
Property, Plant and Equipment	63,890
Intangible Assets Subject to Amortization:
Trade Name	26,753
Customer Lists	123,061
Technology	9,631
Other Assets	2,000
Total Identifiable Assets Acquired	321,464
LIABILITIES
Accounts Payable	32,227
Accrued Expenses	18,130
Deferred Income Taxes	56,950
Other Liabilities	10,964
Total Identifiable Liabilities Assumed	118,271
Net Identifiable Assets Acquired	203,193
Noncontrolling Interest	(1,896		)
Goodwill	152,472
Total Purchase Price, net of Cash Acquired	$	353,769

Schedule of Pro Forma Financial Information

The following unaudited pro forma financial information presents the combined results of operations of Tennant Company as if the 2017 acquisition of the IPC Group had occurred as of January 1, 2016. The unaudited pro forma financial information is presented for informational purposes only. It is not necessarily indicative of what our consolidated results of operations actually would have been had the acquisition occurred at the beginning of fiscal 2016. No pro forma results are presented for the three or nine months ended September 30, 2018, as the results of the acquired company are included in the actual results.

Pro Forma Financial Information (Unaudited)

	Three Months Ended		Nine Months Ended
(In thousands, except per share data)	September 30		September 30
	2017		2017
Net Sales
Pro forma	$	261,921	$	777,832
As reported	261,921		723,771

Net Earnings (Loss) Attributable to Tennant Company
Pro forma	$	5,800	$	14,875
As reported	3,559		(2,989		)

Net Earnings (Loss) Attributable to Tennant Company per Share
Pro forma	$	0.32	$	0.84
As reported	0.20		(0.17		)