TENNANT CO, 10-K filed on 2/24/2026
Annual Report
v3.25.4
Cover Page - USD ($)
12 Months Ended
Dec. 31, 2025
Jan. 30, 2026
Jun. 30, 2025
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 001-16191    
Entity Registrant Name TENNANT CO    
Entity Incorporation, State or Country Code MN    
Entity Tax Identification Number 41-0572550    
Entity Address, Address Line One 10400 Clean Street    
Entity Address, City or Town Eden Prairie    
Entity Address, State or Province MN    
Entity Address, Postal Zip Code 55344    
City Area Code 763    
Local Phone Number 540-1200    
Title of 12(b) Security Common Stock, par value $0.375 per share    
Trading Symbol TNC    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 1,417,121,984
Entity Common Stock, Shares Outstanding   17,846,681  
Documents Incorporated by Reference
Portions of the registrant’s Proxy Statement for its 2026 annual meeting of shareholders (the “2026 Proxy Statement”) are incorporated by reference in Part III.
   
Entity Central Index Key 0000097134    
Amendment Flag false    
Document Fiscal Period Focus FY    
Document Fiscal Year Focus 2025    
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Audit Information
12 Months Ended
Dec. 31, 2025
Audit Information [Abstract]  
Auditor Firm ID 34
Auditor Name Deloitte & Touche LLP
Auditor Location Minneapolis, Minnesota
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Consolidated Statements of Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Statement [Abstract]      
Net sales $ 1,203.5 $ 1,286.7 $ 1,243.6
Cost of sales 719.2 736.7 715.8
Gross profit 484.3 550.0 527.8
Selling and administrative expense 374.8 391.9 352.6
Research and development expense 41.2 43.8 36.6
Operating income 68.3 114.3 138.6
Interest expense, net (9.0) (9.1) (13.5)
Gain (Loss), Foreign Currency Transaction, before Tax (1.7) 0.1 0.3
Other income (expense), net 0.3 (0.5) (1.6)
Income before income taxes 57.9 104.8 123.8
Income tax expense 14.1 21.1 14.3
Net income $ 43.8 $ 83.7 $ 109.5
Net income per share      
Net income per share, Basic (in dollars per share) $ 2.38 $ 4.46 $ 5.92
Net income per share, Diluted (in dollars per share) $ 2.36 $ 4.38 $ 5.83
Weighted average shares outstanding:      
Weighted average shares outstanding, Basic (in shares) 18,366,216 18,786,871 18,509,523
Weighted average shares outstanding, Diluted (in shares) 18,579,707 19,096,138 18,783,633
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Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net income $ 43.8 $ 83.7 $ 109.5
Other comprehensive income (loss):      
Foreign currency translation adjustments (net of related tax benefit (expense) of $1.8, $(0.2), and $0.8, respectively) 41.3 (29.6) 8.3
Pension and postretirement medical benefits (net of related tax benefit (expense) of $0.5, $0.3, and $(0.3), respectively) (1.7) (0.9) 1.0
Derivative financial instruments (net of tax (expense) benefit of $(0.1), $0.0, and $0.4, respectively) 0.4 (0.1) (1.4)
Unrealized (loss) gain on debt securities (net of tax benefit of $0.1, $0.1, and $0.0, respectively) (0.5) 0.2 0.0
Total other comprehensive income (loss), net of tax 39.5 (30.4) 7.9
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest 83.3 53.3 117.4
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest 0.5 0.0 0.0
Comprehensive income attributable to Tennant Company $ 82.8 $ 53.3 $ 117.4
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Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Foreign currency translation adjustments, tax (expense) benefit $ 1.8 $ (0.2) $ 0.8
Pension and postretirement medical benefits, tax (expense) benefit 0.5 0.3 (0.3)
Cash flow hedge, tax (expense) benefit (0.1) (0.0) 0.4
Unrealized gain on debt securities, tax benefit $ 0.1 $ 0.1 $ (0.0)
v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
ASSETS    
Cash, cash equivalents, and restricted cash $ 106.4 $ 99.8
Receivables, less allowances of $10.4 and $7.1, respectively 256.8 259.1
Inventories 198.5 183.8
Prepaid and other current assets 38.0 33.9
Total current assets 599.7 576.6
Property, plant and equipment, less accumulated depreciation of $289.0 and $310.9, respectively 189.8 184.4
Operating lease assets 56.9 54.6
Goodwill 208.6 185.6
Intangible assets, net 52.6 58.7
Other assets 161.3 130.2
Total assets 1,268.9 1,190.1
LIABILITIES AND TOTAL EQUITY    
Current portion of long-term debt 0.4 1.3
Accounts payable 127.5 126.9
Employee compensation and benefits 40.9 53.1
Other current liabilities 124.3 110.9
Total current liabilities 293.1 292.2
Long-term debt 273.2 198.2
Long-term operating lease liabilities 35.5 36.3
Employee-related benefits 15.7 13.5
Deferred income taxes 3.3 4.9
Other liabilities 44.7 22.9
Total long-term liabilities 372.4 275.8
Total liabilities 665.5 568.0
Commitments and contingencies (Note 17)
Common stock, $0.375 par value per share, 60,000,000 shares authorized; 17,846,681 and 18,849,456 issued and outstanding, respectively 6.7 7.1
Additional paid-in capital 0.0 76.7
Retained earnings 628.1 609.7
Accumulated other comprehensive loss (33.2) (72.7)
Total Tennant Company shareholders' equity 601.6 620.8
Noncontrolling interest 1.8 1.3
Total equity 603.4 622.1
Total liabilities and total equity $ 1,268.9 $ 1,190.1
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Consolidated Balance Sheets (Parentheticals) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Allowance for credit loss $ 10.4 $ 7.1
Accumulated depreciation $ 289.0 $ 310.9
Common stock, par value (in dollars per share) $ 0.375 $ 0.375
Common stock, shares authorized (in shares) 60,000,000 60,000,000
Common stock, shares issued (in shares) 17,846,681 18,849,456
Common stock, shares outstanding (in shares) 17,846,681 18,849,456
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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 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 0.0 0.0
Purchase of investment 0.0 (32.1) 0.0
Payments made in connection with business acquisition, net of cash acquired (3.2) (25.7) 0.0
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 0.0 (2.2) 0.0
Change in finance lease obligations 0.0 0.0 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 period 99.8 117.1 77.4
Cash, cash equivalents and restricted cash at end of period 106.4 99.8 117.1
SUPPLEMENTAL CASH FLOW INFORMATION      
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
v3.25.4
Consolidated Statements of Cash Flows (Parenthetical) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Cash Flows [Abstract]      
Employee tax withholdings obligations $ 3.1 $ 3.8 $ 1.7
v3.25.4
Consolidated Statements of Equity - USD ($)
$ in Thousands
Total
Tennant Company Shareholders' Equity
Common Stock
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Loss
Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2022     18,521,485        
Beginning balance at Dec. 31, 2022 $ 472,100 $ 470,800 $ 7,000 $ 56,000 $ 458,000 $ (50,200) $ 1,300
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 109,500 109,500     109,500    
Other comprehensive (loss) income 7,900 7,900       7,900  
Issue stock for directors, employee benefit and stock plans, net of related tax withholdings (in shares)     400,819        
Issue stock for directors, employee benefit and stock plans, net of related tax withholdings 19,000 19,000   19,000      
Share-based compensation 11,600 11,600   11,600      
Dividends paid per common share (20,100) (20,100)     (20,100)    
Repurchases of common stock (in shares)     (290,920)        
Repurchases of common stock, including excise tax (21,700) (21,700)   (21,700)      
Ending balance (in shares) at Dec. 31, 2023     18,631,384        
Ending balance at Dec. 31, 2023 578,300 577,000 $ 7,000 64,900 547,400 (42,300) 1,300
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 83,700 83,700     83,700    
Other comprehensive (loss) income (30,400) (30,400)       (30,400)  
Issue stock for directors, employee benefit and stock plans, net of related tax withholdings (in shares)     416,424        
Issue stock for directors, employee benefit and stock plans, net of related tax withholdings 19,600 19,600   19,500      
Share-based compensation 11,900 11,900   11,900      
Dividends paid per common share (21,400) (21,400)     (21,400)    
Repurchases of common stock (in shares)     (198,352)        
Repurchases of common stock, including excise tax $ (19,600) (19,600)   (19,600)      
Ending balance (in shares) at Dec. 31, 2024 18,849,456   18,849,456        
Ending balance at Dec. 31, 2024 $ 622,100 620,800 $ 7,100 76,700 609,700 (72,700) 1,300
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 43,800 43,800     43,800    
Other comprehensive (loss) income 39,500 39,500       39,500  
Issue stock for directors, employee benefit and stock plans, net of related tax withholdings (in shares)     106,223        
Issue stock for directors, employee benefit and stock plans, net of related tax withholdings (2,500) (2,500) $ 100 (2,500)      
Share-based compensation 10,400 10,400   10,400      
Dividends paid per common share (21,900) (21,900)     (21,900)    
Repurchases of common stock (in shares)     (1,108,998)        
Repurchases of common stock, including excise tax (88,500) (88,500) $ (400) (88,100)      
Stockholders' Equity, Other $ 500     3,500 (3,500)   500
Ending balance (in shares) at Dec. 31, 2025 17,846,681   17,846,681        
Ending balance at Dec. 31, 2025 $ 603,400 $ 601,600 $ 6,700 $ 0 $ 628,100 $ (33,200) $ 1,800
v3.25.4
Consolidated Statements of Equity (Parentheticals) - $ / shares
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Stockholders' Equity [Abstract]      
Shares withheld for taxes (in shares) 35,950 34,511 23,622
Dividends paid per common share (in dollars per share) $ 1.195 $ 1.135 $ 1.075
v3.25.4
Nature of Business
12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Nature of Business Nature of Business
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, reduce environmental impact and help create a cleaner, safer, healthier world. The Company is committed to creating and commercializing breakthrough, sustainable cleaning innovations to enhance its broad suite of products, including floor maintenance and cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair service, and asset management solutions.
Our products are used in many types of environments, including retail establishments, distribution centers, factories and warehouses, public venues such as arenas and stadiums, office buildings, schools and universities, hospitals and clinics, and more.
Customers include contract cleaners to whom organizations outsource facilities maintenance as well as businesses that perform facilities maintenance themselves. The Company reaches these customers through the industry's largest direct sales and service organization and through a strong and well-supported network of authorized distributors worldwide.
v3.25.4
Significant Accounting Policies
12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Significant Accounting Policies Significant Accounting Policies
Basis of Statement Presentation – The consolidated financial statements include the accounts of the Company and all subsidiaries in which we have a controlling financial interest. All intercompany transactions and accounts are eliminated in consolidation. Certain reclassifications to our previously reported financial information have been made to conform to the current period presentation.
Use of Estimates – The preparation of our consolidated financial statements in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) requires us to make estimates and assumptions that affect the amounts reported in these consolidated financial statements and accompanying notes, disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are used in determining, among other items, sales promotions and incentives accruals, inventory valuation, warranty reserves, allowance for doubtful accounts, pension and postretirement accruals, useful lives for intangible assets, valuing investments, and future cash flows associated with impairment testing for goodwill and other long-lived assets. Actual results could differ from our estimates.
Translation of Non-U.S. Currency – Foreign currency-denominated assets and liabilities have been translated to U.S. dollars at year-end exchange rates, while income and expense items are translated at average exchange rates prevailing during the year. Gains or losses resulting from translation are included as a separate component of accumulated other comprehensive loss ("AOCL"). The majority of translation adjustments are not adjusted for income taxes as substantially all translation adjustments relate to permanent investments in non-U.S. subsidiaries. Net foreign currency transaction losses are included in income before income taxes on the consolidated statements of income.
Cash and Cash Equivalents – We consider all highly liquid investments with original maturities of three months or less from the date of purchase to be cash equivalents.
Restricted Cash – We have a total of $0.2 million as of December 31, 2025 and 2024 that serves as collateral backing certain bank guarantees and is therefore restricted. This money is invested in time deposits. Restricted cash is recorded in cash, cash equivalents and restricted cash on the consolidated balance sheets.
Receivables – Credit is granted to our customers in the normal course of business. Receivables are recorded at original carrying value less reserves for estimated uncollectible accounts and sales returns. To assess the collectability of these receivables, we perform ongoing credit evaluations of our customers’ financial condition. Through these evaluations, we may become aware of a situation where a customer may not be able to meet its financial obligations due to deterioration of its financial viability, credit ratings or bankruptcy. The reserve requirements are based on the best facts available to us and are reevaluated and adjusted as additional information becomes available.
Our reserves are also based on amounts determined by using percentages applied to trade receivables, using a loss rate method. We considered the following in determining the expected loss rate: (1) historical loss rate, (2) macroeconomic factors, and (3) creditworthiness of customers. The historical loss rate is calculated by taking the yearly write-off expense, net of collections, as a percentage of the annual average balance of trade receivables for each of the past three years. An account is considered past-due or delinquent when it has not been paid within the contractual terms. Uncollectible accounts are written off against the reserves when it is deemed that a customer account is uncollectible.
Inventories – Inventories are valued at the lower of cost or net realizable value. Cost is determined on a first-in, first-out (“FIFO”) basis except for inventories in North America, which are determined on a last-in, first-out (“LIFO”) basis.
Cloud Computing Arrangements – We periodically enter into cloud computing arrangements to access and use third-party software in support of our operations. These arrangements primarily relate to the implementation and ongoing use of a new enterprise resource planning (“ERP”) system. We assess our cloud computing arrangements to determine whether the contract is a service contract or conveys a software license. For cloud computing arrangements that are accounted for as service contracts, we capitalize implementation costs incurred during the application development stage.
Once the asset is ready for its intended use, the capitalized implementation costs are amortized as expense on a straight-line basis over the term of the service contract, which typically range from 10 to 15 years depending on the nature of the underlying asset.
As of December 31, 2025 and 2024, we had capitalized implementation costs, net of amortization, of $53.4 million and $23.3 million, respectively, included in other assets within the consolidated balance sheets. Amortization expense for the implementation costs was $0.5 million for the year ended December 31, 2025, and is included in selling and administrative expenses within the consolidated statements of income. There was no amortization expense for implementation costs recorded in 2024 and 2023.
Capitalized Interest – The interest cost on capital projects is capitalized and included in the cost of the project. Capitalization commences with the first expenditure for the project and continues until the project is substantially complete and ready for its intended use. Total interest expense incurred was $12.6 million, $13.6 million and $17.0 million for the years ended December 31, 2025, 2024, and 2023, respectively, of which $2.3 million and $1.0 million was capitalized as of December 31, 2025 and 2024, respectively.
Property, Plant and Equipment – Property, plant and equipment is carried at cost. Additions and improvements that extend the lives of the assets are capitalized, while expenditures for repairs and maintenance are expensed as incurred. We generally depreciate buildings and improvements by the straight-line method over a life of 30 years. Other property, plant and equipment are generally depreciated using the straight-line method based on lives of 3 years to 15 years.
Leases – We assess whether an arrangement is a lease at inception.
Operating leases with an initial term of 12 months or less are expensed as incurred as short-term lease cost. We have elected the practical expedient to not separate lease and non-lease components for all asset classes. Operating lease assets and operating lease liabilities are calculated based on the present value of the future lease payments over the lease term at the lease commencement date. When future lease payments are based on an index or rate, operating lease assets and operating lease liabilities are calculated using the prevailing index or rate at the lease commencement date. As the implicit rate is not readily determinable, we use our incremental borrowing rate based on the information available at the lease start date in determining the present value of future payments. Information used in determining the incremental borrowing rates for the Company's leases includes: (1) the market yield on the Company's traded bond, adjusted for the presence of collateral and the difference in terms of the bond and the leases, (2) consideration of the currency in which each lease was denominated, and (3) the lease term. The operating lease asset is increased by any lease payments made at or before the lease start date, increased by initial direct costs incurred, and reduced by lease incentives. The lease term includes options to renew or terminate the lease when it is reasonably certain that we will exercise that option. The exercise of lease renewal options is at our sole discretion. The useful life of lease assets and leasehold improvements are limited by the lease term, unless there is a transfer of title or
purchase option reasonably certain of exercise. Certain leases also include options to purchase the leased asset. Lease expense for operating leases is recognized on a straight-line basis over the lease term. Certain leases contain variable lease payments for items such as index-based changes in rent, fuel and common area maintenance, which we expense as incurred as variable lease cost.
Finance leases are not material to our consolidated financial statements.
Goodwill – Goodwill represents the excess of cost over the fair value of net assets of businesses acquired and is allocated to our reporting units at the time of the acquisition. We analyze goodwill on an annual basis as of October 1 and when an event occurs, or circumstances change that may reduce the fair value of one of our reporting units below its carrying amount. We have the option of first analyzing qualitative factors to determine whether it is more likely than not that the fair value of any reporting unit is less than its carrying amount. However, we may elect to perform a quantitative goodwill impairment test even if no indications of a potential impairment exist.
For the 2025 annual goodwill impairment test for the North America and Latin America reporting units, we elected to perform a qualitative assessment to determine whether it was more likely than not that the fair value of each reporting unit was less than its carrying amount. In performing this assessment, we considered relevant events and circumstances, including industry, market and macroeconomic conditions, as well as company-specific and reporting unit-specific factors. Based on this evaluation, we concluded that it was not more likely than not that the fair value of either reporting unit was less than its carrying amount. Accordingly, a quantitative goodwill impairment test was not required, and no impairment of goodwill was recognized for these reporting units during 2025.
During 2024, a qualitative goodwill assessment was performed for the North America and Latin America reporting units while a quantitative assessment was performed for the EMEA and APAC reporting units. Our assessments indicated that there was no goodwill impairment in any of our reporting units as of our annual assessment date.
Intangible Assets – Intangible assets consist of long-lived customer lists, trade names and technology. Generally, intangible assets classified as trade names are amortized on a straight-line basis and intangible assets classified as customer lists or technology are amortized using an accelerated method of amortization.
Impairment of Long-Lived Assets and Assets Held for Sale – We periodically review our intangible and long-lived assets for impairment and assess whether events or circumstances indicate that the carrying amount of the assets may not be recoverable. We generally deem an asset group to be impaired if an estimate of undiscounted future operating cash flows are less than its carrying amount. If impaired, an impairment loss is recognized based on the excess of the carrying amount of the individual asset group over its fair value.
Assets held for sale are measured at the lower of their carrying value or fair value less costs to sell. Upon retirement or disposition, the asset cost and related accumulated depreciation or amortization are removed from the accounts and a gain or loss is recognized based on the difference between the fair value of proceeds received and carrying value of the assets held for sale.
Purchase of Common Stock – We repurchase our common stock under both the 2025 and 2016 repurchase program authorized by our Board of Directors. These programs allow us to repurchase up to an aggregate of 3,000,000 shares of our common stock, and 1,514,063 shares remain authorized under the 2025 program. Upon repurchase, the par value is charged to common stock and the remaining purchase price is charged to additional paid-in capital. If the amount of the remaining purchase price causes the additional paid-in capital account to be in a negative position, this amount is then reclassified to retained earnings. Common stock repurchased is included in shares authorized but is not included in shares outstanding.
Warranty – We record a liability for estimated warranty claims at the time of sale. The amount of the liability is based on the trend in the historical ratio of claims to sales, the historical length of time between the sale and resulting warranty claim, new product introductions and other factors. In the event we determine that our current or future product repair and replacement costs exceed our estimates, an adjustment to these reserves would be charged to earnings in the period such determination is made. Warranty terms on machines range from one to four years. Warranty costs are recorded as a component of selling and administrative expense in the consolidated statements of income.
Pension and Profit Sharing Plans – Substantially all U.S. employees are covered by various retirement benefit plans, including postretirement medical plans and defined contribution savings plans. Retirement benefits for eligible employees in foreign locations are funded principally through defined benefit plans, annuity or government programs.
Postretirement Benefits – We accrue and recognize the cost of retiree health benefits over the employees’ period of service based on actuarial estimates. Benefits are only available for U.S. employees hired before January 1, 1999.
Derivative Financial Instruments – We use cross-currency swaps, interest rate swaps and foreign exchange forward and option contracts to manage risks generally associated with foreign exchange rate and interest rate volatility. We account for our hedging instruments as either assets or liabilities on the consolidated balance sheets and measure them at fair value. Gains and losses resulting from changes in fair value are accounted for depending on the use of the derivative and whether it is designated and qualifies for hedge accounting. Gains and losses for all instruments that do not qualify for hedge accounting are recorded each period to net foreign currency transaction loss in our consolidated statements of income. Changes in the fair value of designated hedges are reported in accumulated other comprehensive loss on the consolidated balance sheet until a related transaction occurs. If the underlying hedged transaction ceases to exist, all changes in fair value of the related derivatives that have not been settled are recorded in our consolidated statements of income.
Revenue Recognition – Revenue is recognized when control transfers under the terms of the contract with our customers. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or providing services. Sales and other taxes we collect concurrently with revenue-producing activities are excluded from revenue. We do not account for shipping and handling as a distinct performance obligation as we generally perform shipping and handling activities after we transfer control of goods to the customer. We have elected to account for shipping and handling costs associated with outbound freight after control of goods has transferred to a customer as a fulfillment cost. Incidental items that are immaterial in the context of the contract are not recognized as a separate performance obligation. We do not have any significantly extended payment terms as payment is generally received within one year of the point of sale.
In general, we transfer control and recognize a sale at the point in time when products are shipped from our manufacturing facilities both direct to consumers and to distributors. Service revenue is recognized in the period the service is performed or ratably over the period of the related service contract. Consideration related to service contracts is deferred if the proceeds are received in advance of the satisfaction of the performance obligations and recognized over the contract period as the performance obligation is met. We use an output method to measure progress toward completion for certain prepaid service contracts, as this method appropriately depicts performance toward satisfaction of the performance obligations.
For contracts with multiple performance obligations (i.e., a product and service component), we allocate the transaction price to the performance obligations in proportion to their stand-alone selling prices. We use an observable price to determine the stand-alone selling price for separate performance obligations. When allocating on a relative stand-alone selling price basis, any discounts contained within the contract are allocated proportionately to all of the performance obligations in the contract.
We generally expense the incremental costs of obtaining a contract when incurred because the amortization period would be less than one year. These costs relate primarily to sales commissions and are recorded in selling and administrative expense in the consolidated statements of income.
We do not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. In addition, we do not adjust the promised amount of consideration for the effects of a significant financing component if we expect, at contract inception, that the period between when we transfer a promised good or service to a customer and when the customer pays for that good or service will be one year or less.
Share-Based Compensation – We account for share-based compensation awards on a fair value basis. The estimated grant date fair value of each option award is recognized in income on a straight-line basis over the requisite service period (generally the vesting period). The estimated fair value of each option award is
calculated using the Black-Scholes option-pricing model. From time to time, we have elected to modify the terms of the original grant. These modified grants are accounted for as a new award and measured using the fair value method, resulting in the inclusion of additional compensation expense in our consolidated statements of income.
Restricted share awards and units are recorded as compensation cost over the requisite service periods based on the market value on the date of grant. To determine the amount of compensation cost to be recognized in each period for these awards and for option awards, we account for forfeitures as they occur.
Performance share awards ("PSUs") are stock awards where the ultimate number of shares issued will be contingent on the Company’s performance against certain performance goals. The Compensation Committee can adjust performance goals or modify the manner of measuring or evaluating a performance goal using its discretion. The fair value of each PSU is based on the market value on the date of grant. We recognize expense related to the estimated vesting of our PSUs granted. The estimated vesting of the PSUs is based on the probability of achieving certain performance metrics over the specified performance period. To determine the amount of compensation cost to be recognized in each period, we estimate forfeitures.
Research and Development – Research and development costs are expensed as incurred.
Advertising Costs We advertise products, technologies and solutions to customers and prospective customers through a variety of marketing campaign and promotional efforts. These efforts include tradeshows, online advertising, e-mail marketing, mailings, sponsorships and telemarketing. Advertising costs are expensed as incurred. In 2025, 2024 and 2023, such activities amounted to $6.0 million, $5.7 million and $4.6 million, respectively.
Income Taxes – Deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the book and tax bases of existing assets and liabilities. A valuation allowance is provided when, in management’s judgment, it is more likely than not that some portion or all of the deferred tax asset will not be realized. We have established uncertain tax position accruals using management’s best judgment. We adjust these accruals as facts and circumstances change. Interest expense is recognized in the first period the interest would begin accruing. Penalties are recognized in the period we claim or expect to claim the position in our tax return. Interest and penalty expenses are classified as an income tax expense.
Earnings Per Share – Basic earnings per share is computed by dividing net earnings attributable to Tennant Company by the weighted average shares outstanding during the period. Diluted earnings per share assumes conversion of potentially dilutive stock options, performance shares, restricted shares and restricted stock units. These are not included in our computation of diluted earnings per share if we have a net loss attributable to the Company in a reporting period or if the instrument's effects are anti-dilutive.
Investments, Available-for-Sale – As described in Note 12, debt securities classified as available-for-sale securities are carried at fair market value, with the unrealized gains and losses, net of tax, included in the determination of comprehensive income (loss) and reported in shareholders' equity. These investments are subject to periodic impairment review.
Investments, Measurement Alternative – Our investments, as described in Note 12 which are valued under the measurement alternative include equity securities for which the Company does not have significant influence and fair value is not readily determinable. Accounting Standard Update ("ASU") 2016-01 requires equity securities to be recorded at cost and adjusted to fair value at each reporting period. However, the guidance allows for a measurement alternative, which is to record investments at cost, less impairment, if any, and subsequently adjust for observable price changes of identical or similar investments of the same issuer.
Due to the lack of readily determinable fair values for such investments, for which the Company does not have significant influence, the Company accounts for these investments under the measurement alternative at cost, less impairment.
The Company performs qualitative impairment assessments on its investments recorded under the measurement alternative.
Investments, Equity Method – As described in Note 13, the Company uses the equity method of accounting for equity investments if the investment provides the ability to exercise significant influence, but not control, over operating and financial policies of the investee. Judgment regarding the level of influence over each equity method investment includes considering key factors such as the Company’s ownership interest, legal form of the investee (e.g. limited liability partnership), representation on the board of directors, participation in policy-making decisions and material intra-entity transactions.
Under the equity method of accounting, investments are stated at initial cost and are adjusted for subsequent additional investments and the proportionate share of earnings or losses and dividends, including consideration of basis differences resulting from the difference between the initial carrying amount of the investment and the underlying equity in net assets, as applicable.
The Company evaluates equity method investments for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment might not be recoverable. Factors considered by the Company when reviewing an equity method investment for impairment include the length of time (duration) and the extent (severity) to which the fair value of the equity method investment has been less than cost, the investee’s financial condition and near-term prospects, and the intent and ability to hold the investment for a period of time sufficient to allow for anticipated recovery. An impairment that is other-than-temporary is recognized in the period identified.
Newly Adopted Accounting Policies
Improvements to Income Tax Disclosures
In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which is intended to enhance the transparency and decision usefulness of income tax disclosures. The amendments in ASU 2023-09 address investor requests for enhanced income tax information primarily through changes to the rate reconciliation and income taxes paid information. The amendments in this ASU are required to be adopted for fiscal years beginning after December 15, 2024. We have adopted the new standard on a prospective basis effective December 31, 2025. While the adoption has no impact on our consolidated financial statements, it has resulted in incremental disclosures within the footnotes of our consolidated financial statements. Refer to Note 18, Income Taxes for the inclusion of the new required disclosures.
v3.25.4
Revenue
12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Revenue is recognized upon the transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products and services. Generally, these criteria are met at the time the product is shipped.
We also enter into contracts that can include combinations of products and services, which are generally capable of being distinct and are accounted for as separate performance obligations. Revenue is recognized net of allowances for returns and any taxes collected from customers, which are subsequently remitted to governmental authorities.
Disaggregation of Revenue
The following tables illustrate the disaggregation of revenue by geographic area, groups of similar products and services and sales channels for the years ended December 31:
Net sales by geographic area
202520242023
Americas$792.0 $888.5 $840.3 
Europe, Middle East and Africa (EMEA)334.6 318.5 314.4 
Asia Pacific (APAC)76.9 79.7 88.9 
Total$1,203.5 $1,286.7 $1,243.6 
Net sales are attributed to each geographic area based on the end user country and are net of intercompany sales.
Net sales by groups of similar products and services
202520242023
Equipment$714.7 $808.7 $776.4 
Parts and consumables275.6 274.3 279.5 
Service and other213.2 203.7 187.7 
Total$1,203.5 $1,286.7 $1,243.6 
Net sales by sales channel
202520242023
Sales direct to consumer$831.5 $905.7 $854.4 
Sales to distributors372.0 381.0 389.2 
Total$1,203.5 $1,286.7 $1,243.6 
Contract Liabilities
Sales Returns
The right of return may exist explicitly or implicitly with our customers. When the right of return exists, we adjust the transaction price for the estimated effect of returns. We estimate the expected returns using the expected value method by assessing historical sales levels and the timing and magnitude of historical sales return levels as a percent of sales and projecting this experience into the future.
Sales Incentives
Our sales contracts may contain various customer incentives, such as volume-based rebates or other promotions. We reduce the transaction price for certain customer programs and incentive offerings that represent variable consideration. Sales incentives given to our customers are recorded using the most likely amount approach for estimating the amount of consideration to which the Company will be entitled. We forecast the most likely amount of the incentive to be paid at the time of sale, update this forecast quarterly, and adjust the transaction price accordingly to reflect the new amount of incentives expected to be earned by the customer. The majority of our customer incentives are settled within one year. We record our accruals for volume-based rebates and other promotions in other current liabilities on our consolidated balance sheets.
The change in our sales incentive accrual balance for the years ended December 31, 2025 and 2024 was as follows:
20252024
Beginning balance$16.1 $21.2 
Additions to sales incentive accrual20.3 22.4 
Contract payments(22.4)(27.2)
Foreign currency fluctuations0.8 (0.3)
Ending balance$14.8 $16.1 
Deferred Revenue
We provide separately priced prepaid contracts to our customers, collecting payment at the start of the agreement. Revenue recognition is deferred until we meet our future performance obligations. Our deferred revenue balance includes autonomous subscription sales and prepaid maintenance contracts on our machines ranging from 12 months to 60 months. In circumstances where prepaid contracts are sold simultaneously with machines, we use an observable price to determine stand-alone selling price for separate performance obligations.
The change in the deferred revenue balance for the years ended December 31, 2025 and 2024 was as follows:
20252024
Beginning balance$20.6 $10.3 
Increase in deferred revenue representing our obligation to satisfy future performance obligations31.9 31.7 
Decrease in deferred revenue for amounts recognized in net sales for satisfied performance obligations(20.8)(20.8)
Foreign currency fluctuations0.7 (0.6)
Ending balance$32.4 $20.6 
As of December 31, 2025, $16.6 million and $15.8 million of deferred revenue was reported in other current liabilities and other liabilities, respectively, on our consolidated balance sheets. Of this, we expect to recognize the following approximate amounts in net sales in the following periods:
2026$16.7 
20277.0 
20284.6 
20293.1 
20301.0 
Thereafter— 
Total$32.4 
As of December 31, 2024, $9.8 million and $10.8 million of deferred revenue was reported in other current liabilities and other liabilities, respectively, on our consolidated balance sheets.
v3.25.4
Management Actions
12 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
Management Actions Management Actions
Restructuring Actions
In 2025 and 2024, we incurred restructuring expenses as part of our global reorganization efforts. The following pre-tax restructuring charges were included in the consolidated statements of income:
20252024
Severance-related costs - Selling and administrative expense$6.4 $8.2 
Total pre-tax restructuring costs$6.4 $8.2 
Our restructuring actions represent the execution of a multi-year enterprise strategy to drive increased productivity throughout our operations. The charges in 2025 and 2024 impacted all operating segments and were related to a global workforce realignment to support our key strategic initiatives.
A reconciliation to the ending liability balance of severance and related costs as of December 31, 2025 and 2024 is as follows:
20252024
Beginning balance$8.6 $2.4 
New charges8.8 8.8 
Cash payments(8.7)(2.3)
Foreign currency adjustments1.1 0.3 
Adjustment to accrual(2.4)(0.6)
Ending balance$7.4 $8.6 
v3.25.4
Acquisitions
12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions Acquisitions
R4Y
On September 1, 2025, we acquired 100% of Reinigungstechnik 4 You GmbH ("R4Y"), as we continue to expand our footprint in the EMEA region. The total purchase price was $3.6 million. The financial results for R4Y
have been included in our consolidated financial statements since the acquisition date. The acquisition was not material to our consolidated financial statements.
TCS
On February 29, 2024, we acquired 100% of M&F Management and Financing GmbH ("M&F"), the parent company of TCS EMEA GmbH ("TCS"), as we seek to accelerate growth in the EMEA region. The total purchase price of the acquisition was $34.9 million.
Based in Austria, TCS was Tennant Company's largest Central and Eastern Europe distributor. The acquisition gives Tennant a knowledgeable and experienced sales force and an established direct channel into countries including Romania, Hungary, Czech Republic, and Slovakia, along with an expanded network in Austria, Switzerland, Poland, and other nations in the region, as well as the Middle East and Africa. The proforma impact of this acquisition is immaterial to our operations.
v3.25.4
Inventories
12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
Inventories Inventories
Inventories as of December 31 consisted of the following:
20252024
Inventories carried at LIFO:
Finished goods(a)
$85.0 $85.4 
Raw materials and work-in-process35.5 38.4 
Excess of FIFO over LIFO cost(b)
(54.9)(50.4)
Total LIFO inventories$65.6 $73.4 
Inventories carried at FIFO:
Finished goods(a)
$64.3 $53.2 
Raw materials and work-in-process68.6 57.2 
Total FIFO inventories$132.9 $110.4 
Total inventories$198.5 $183.8 
(a)Finished goods include machines, parts and consumables and component parts that are used in our products.
(b)The difference between replacement cost and the stated LIFO inventory value is not materially different from the reserve for the LIFO valuation method.
v3.25.4
Property, Plant and Equipment
12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Property, Plant and Equipment
Property, plant and equipment and related accumulated depreciation, including equipment under finance leases, as of December 31, consisted of the following:
20252024
Property, plant and equipment:
Land$27.9 $24.1 
Buildings and improvements144.0 134.1 
Machinery and manufacturing equipment243.5 210.4 
Office equipment59.1 122.2 
Construction in progress4.3 4.5 
Total property, plant and equipment478.8 495.3 
Less: accumulated depreciation(289.0)(310.9)
Property, plant and equipment, net$189.8 $184.4 
Depreciation expense was $45.0 million, $40.1 million and $36.4 million in 2025, 2024 and 2023, respectively.
v3.25.4
Goodwill and Intangible Assets
12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
For purposes of performing our goodwill impairment analysis, we have identified our reporting units as North America, Latin America, EMEA and APAC.
The changes in the carrying amount of goodwill were as follows:
Goodwill
Accumulated
Impairment
Losses
Total
Balance as of December 31, 2025$243.9 $(35.3)$208.6 
Additions1.4 — 1.4 
Foreign currency fluctuations24.4 (2.8)21.6 
Balance as of December 31, 2024$218.1 $(32.5)$185.6 
Additions9.4 — 9.4 
Foreign currency fluctuations(12.0)0.8 (11.2)
Balance as of December 31, 2023$220.7 $(33.3)$187.4 
There has been no impairment of goodwill for any of the years presented.
The additions recorded to goodwill during 2025 and 2024 were related to the acquisitions of R4Y and TCS, respectively, as described further in Note 5.
The balances of acquired intangible assets, excluding goodwill, were as follows:
Customer
Lists
Trade
Names
TechnologyTotal
Balance as of December 31, 2025
Original cost$174.9 $31.1 $16.7 $222.7 
Accumulated amortization(128.1)(26.6)(15.4)(170.1)
Carrying amount$46.8 $4.5 $1.3 $52.6 
Weighted-average original life (in years)141012
Balance as of December 31, 2024
Original cost$154.6 $27.6 $15.2 $197.4 
Accumulated amortization(104.9)(20.8)(13.0)(138.7)
Carrying amount$49.7 $6.8 $2.2 $58.7 
Weighted-average original life (in years)151111
As part of our acquisition of R4Y in 2025, we acquired customer lists with a fair value of $1.2 million. As part of our acquisition of TCS in 2024, we acquired customer lists and backlog with a combined fair value of $13.8 million.
Amortization expense of intangible assets was $13.7 million, $15.0 million and $14.7 million for the years ended December 31, 2025, 2024 and 2023, respectively.
Estimated aggregate amortization expense based on the current carrying amount of amortizable intangible assets for each of the five succeeding years is as follows:
2026$12.9 
20279.3 
20287.5 
20296.7 
20306.2 
Thereafter10.0 
Total$52.6 
v3.25.4
Debt
12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Debt Debt
On August 7, 2024, we and certain of our foreign subsidiaries entered into an Amended and Restated Credit Agreement (the "2024 Credit Agreement") with JPMorgan Chase Bank, N.A. as administrative agent. The 2024 Credit Agreement provides us and certain of our foreign subsidiaries access to a senior secured credit facility until August 7, 2029, consisting of a revolving facility in an amount up to $650.0 million, with an option to expand the revolving facility or obtain incremental term loans by up to $325.0 million, with the consent of the lenders willing to provide additional borrowings in the form of increases to their revolving facility commitment or funding of incremental term loans. Borrowings may be denominated in U.S. dollars or certain other currencies.
The fee for undrawn committed funds under the revolving facility of the 2024 Credit Agreement ranges from an annual rate of 0.15% to 0.30%, depending on our leverage ratio. Borrowings denominated in U.S. dollars under the 2024 Credit Agreement bear interest at a rate per annum equal to (a) the greatest of (i) the prime rate, (ii) the NYFRB Rate (as defined in the 2024 Credit Agreement) plus 0.50% and (iii) the Adjusted Term SOFR Rate (as defined in the 2024 Credit Agreement) for a one month period plus 1%; but in any case not less than 1%, plus an additional spread of 0.25% to 1%, depending on our leverage ratio, (b) the Adjusted Term SOFR Rate plus an additional spread of 1.25% to 2%, depending on our leverage ratio, or (c) the Adjusted Daily Simple RFR (as defined in the 2024 Credit Agreement) plus an additional spread of 1.25% to 2%, depending on our leverage ratio.
In connection with the 2024 Credit Agreement, we reaffirmed our security interest in favor of the lenders in substantially all our personal property and pledged the stock of certain of our domestic and foreign subsidiaries. The obligations under the 2024 Credit Agreement are also guaranteed by certain of our subsidiaries and those subsidiaries also provided a security interest in their similar personal property.
The 2024 Credit Agreement contains customary representations, warranties and covenants, including but not limited to covenants restricting our ability to incur indebtedness and liens and merge or consolidate with another entity. Further, the 2024 Credit Agreement contains the following covenants:
a covenant requiring us to maintain an indebtedness to EBITDA ratio, determined as of the end of each fiscal quarter, of no greater than 3.75 to 1.00, with certain alternative requirements for permitted acquisitions of at least $50.0 million;
a covenant requiring us to maintain an EBITDA to interest expense ratio for a period of four consecutive fiscal quarters as of the end of each quarter of no less than 3.00 to 1; and
a covenant restricting us from paying dividends or repurchasing stock if, after giving effect to such payments and assuming no default exists or would result from such payment, our leverage ratio is greater than 2.50 to 1, in such case limiting such payments to the greater of 10% of consolidated total assets or $100.0 million during any fiscal year.
We were in compliance with the financial covenants as of December 31, 2025.
Debt outstanding as of December 31 consisted of the following:
20252024
Credit facility borrowings:
Revolving credit facility borrowings$272.5 $197.5 
Finance lease liabilities1.1 1.2 
Bank overdrafts— 0.8 
Total debt273.6 199.5 
Less: current portion of long-term debt(a)
(0.4)(1.3)
Long-term debt$273.2 $198.2 
(a)
As of December 31, 2025, the Company is required to repay $0.4 million of finance lease liabilities over the next 12 months.
As of December 31, 2025, we had outstanding borrowings of $272.5 million under our revolving credit facility. We had letters of credit and bank guarantees outstanding in the amount of $3.2 million, leaving approximately $374.3 million of unused borrowing capacity on our revolving facility. Commitment fees on unused lines of credit for the year ended December 31, 2025 were $0.6 million. The overall weighted average cost of debt is approximately 5.8% and net of a related cross-currency swap and interest rate swap instruments is approximately 4.4%. Further details regarding the cross-currency swap instrument are discussed in Note 11.
The aggregate maturities of our outstanding debt, excluding unamortized debt issuance costs, as of December 31, 2025, are as follows:
2026$0.4 
20270.4 
20280.2 
2029272.6 
2030— 
Thereafter— 
Total aggregate maturities$273.6 
v3.25.4
Other Current Liabilities
12 Months Ended
Dec. 31, 2025
Payables and Accruals [Abstract]  
Other Current Liabilities Other Current Liabilities
Other current liabilities as of December 31 consisted of the following:
20252024
Other current liabilities:
Taxes$18.5 $20.5 
Warranty reserve6.5 6.9 
Deferred revenue16.6 9.8 
Customer sales incentives14.8 16.1 
Freight3.6 4.0 
Restructuring7.4 8.5 
Operating leases21.7 18.5 
Miscellaneous accrued expenses35.2 26.6 
Total other current liabilities$124.3 $110.9 
v3.25.4
Derivatives
12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives Derivatives
Hedge Accounting and Hedging Programs
We recognize all derivative instruments as either assets or liabilities in our consolidated balance sheets and measure them at fair value. Gains and losses resulting from changes in fair value are accounted for depending on the use of the derivative and whether it is designated and qualifies for hedge accounting.
To receive hedge accounting treatment, all hedging relationships are formally documented at the inception of the hedge. We evaluate hedge effectiveness on our hedges that are designated and qualify for hedge accounting at the inception of the hedge prospectively, as well as retrospectively, and record any ineffective portion of the hedging instruments in net foreign currency transaction loss on our consolidated statements of income. The time value of purchased contracts is recorded in net foreign currency transaction loss in our consolidated statements of income. If we do not elect hedge accounting, or the contract does not qualify for hedge accounting treatment, the changes in fair value from period to period are recorded in net foreign currency transaction losses in our consolidated statements of income.
Our hedging policy establishes maximum limits for each counterparty to mitigate any concentration of risk.
Balance Sheet Hedges
We hedge our net recognized foreign currency denominated assets and liabilities with foreign exchange forward contracts to reduce the risk that the value of these assets and liabilities will be adversely affected by changes in exchange rates. These contracts hedge assets and liabilities that are denominated in foreign currencies and are carried at fair value as either assets or liabilities on the consolidated balance sheets with changes in the fair value recorded to net foreign currency transaction gain in our consolidated statements of income. These contracts do not subject us to material balance sheet risk due to exchange rate movements because gains and losses on these derivatives are intended to offset gains and losses on the assets and liabilities being hedged. At December 31, 2025 and December 31, 2024, the notional amounts of foreign currency forward exchange contracts outstanding not designated as hedging instruments were $92.9 million and $70.2 million, respectively.
Cash Flow Hedges
The Company manages its floating rate debt exposure using interest rate swaps. Fixed rate swaps are used to reduce the Company's risk of the possibility of increased interest costs. The Company entered into an aggregate $120.0 million notional amount of interest rate swaps effective December 1, 2022, that exchange a variable rate of interest for a fixed rate of interest of 4.076%. These interest rate swaps are designated as cash flow hedges. These swaps were scheduled to mature on December 1, 2026 (the "December 2022 Swaps").
On October 14, 2025, we amended and restructured our interest rate swap contracts using a strategy referred to as a "blend and extend." In a blend and extend arrangement, the liability or asset position of the existing interest rate swap arrangement is blended into the amended or new interest rate swap arrangement and the term to maturity of the hedged position is extended. The amendment modified (i) the fixed rate payable by the counterparty from 4.076% to a new fixed rate of 3.443% and (ii) extended the termination date through October 1, 2029 (the "October 2025 Swaps"). The amendment did not change the aggregate notional amount of $120.0 million.
As a result of this transaction, the December 2022 Swaps were de-designated and the unrealized loss of $0.9 million was recorded within accumulated other comprehensive loss and will be amortized as a reduction of interest expense, net, over the original term of the of the amended swaps (until December 2026), as the hedged transactions affect earnings. Additionally, the October 2025 Swaps had a fair value of $0.9 million at inception, and will be ratably recorded to accumulated other comprehensive loss and reclassified to interest expense, net, over the term of the October 2025 Swaps (until October 2029), as the hedged transactions affect earnings.
At inception of the October 2025 Swaps, the Company determined that the swaps qualified for cash flow hedge accounting under ASC 815. Therefore, changes in the fair value of the swap, net of taxes, will be
recognized in other comprehensive loss each period, then reclassified into the consolidated statements of income as a component of interest expense, net in the period in which the hedged transaction affects earnings.
Fair Value Hedges
On April 5, 2022, we entered into Euro to U.S. dollar foreign exchange cross-currency swaps associated with an intercompany loan from a wholly owned European subsidiary. We enter into these foreign exchange cross-currency swaps to hedge the foreign currency risk associated with this intercompany loan, and accordingly, they are not speculative in nature. These cross-currency swaps are designated as fair value hedges. As of December 31, 2025, these cross-currency swaps included €75.0 million of total notional value. As of December 31, 2025, the aggregated scheduled interest payments over the course of the loan and related swaps amounted to €3.0 million. These swaps are scheduled to mature in April 2027.
Net Investment Hedges
On April 5, 2022, we entered into Euro to U.S. dollar foreign exchange cross-currency swaps to hedge our exposure to adverse foreign currency exchange rate movements between Tennant Company and its Euro denominated subsidiaries. We enter into these fixed-to-fixed cross-currency swap agreements to protect a designated monetary amount of the Company’s net investment in its Euro functional currency subsidiaries against the risk of changes in the Euro to U.S. dollar foreign exchange rate. These cross-currency swaps are designated as net investment hedges. As of December 31, 2025, the cross-currency swaps included €75.0 million of total notional values. These swaps are scheduled to mature in April 2027.
The fair value of derivative instruments on our consolidated balance sheets as of December 31 consisted of the following:
Derivative AssetsDerivative Liabilities
Balance Sheet LocationDecember 31, 2025December 31, 2024Balance Sheet LocationDecember 31, 2025December 31, 2024
Derivatives designated as cash flow hedges:
Interest rate swapsOther current assets— 0.1 Other current liabilities— — 
Interest rate swapsOther assets— — Other liabilities0.4 0.2 
Derivatives designated as fair value hedges:
Cross-currency swapsOther current assets1.2 1.5 Other current liabilities— — 
Cross-currency swapsOther assets— 0.5 Other liabilities8.9 — 
Derivatives designated as net investment hedges:
Cross-currency swapsOther current assets1.2 1.2 Other current liabilities— — 
Cross-currency swapsOther assets— 0.2 Other liabilities8.9 — 
Derivatives not designated as hedging instruments:
Foreign currency forward contracts(a)
Other current assets0.3 0.8 Other current liabilities0.1 — 
(a)Contracts that mature within the next 12 months are included in other current assets and other current liabilities for asset derivatives and liabilities derivatives, respectively, on our consolidated balance sheets. Contracts with maturities greater than 12 months are included in other assets and other liabilities for asset derivatives and liability derivatives, respectively, in our consolidated balance sheets. Amounts included in our consolidated balance sheets are recorded net where a right of offset exists with the same derivative counterparty.
As of December 31, 2025, we anticipate reclassifying approximately $0.6 million of gains from accumulated other comprehensive loss to net income during the next 12 months.
The following tables include the amounts in the consolidated statements of income in which the effects of derivative instruments are recorded and the effects of derivative instruments activity on these line items for the years ended December 31, 2025 and December 31, 2024:
20252024
TotalGain (Loss) on
Hedge Activity
Total Gain (Loss) on
Hedge Activity
Derivatives designated as cash flow hedges:
Interest expense, net(9.0)0.3 (9.1)1.0 
Net foreign currency transaction (loss) gain(1.7)(0.1)0.1 — 
Derivatives designated as fair value hedges:
Interest expense, net(9.0)1.0 (9.1)1.1 
Net foreign currency transaction (loss) gain(1.7)(8.0)0.1 3.9 
Derivatives designated as net investment hedges:
Interest expense, net(9.0)1.0 (9.1)1.0 
The effect of derivative instruments designated as hedges and derivative instruments not designated as hedges in our consolidated statements of income for the three years ended December 31 were as follows:
202520242023
Derivatives designated as cash flow hedges:
Amount of gain recognized in other comprehensive income (loss)(a)
$— $1.8 $0.6 
Amount of net gain reclassified from AOCL into earnings0.2 1.0 2.0 
Derivatives designated as fair value hedges:
Amount of gain recognized in other comprehensive income (loss)(a)
1.6 0.2 — 
Amount of net gain reclassified from AOCL into earnings1.0 1.1 — 
Derivatives designated as net investment hedges:
Amount of gain recognized in other comprehensive income (loss)(a)
(6.1)3.8 2.0 
Amount of net gain reclassified from AOCL into earnings1.0 1.0 1.0 
Derivatives not designated as hedging instruments:
Amount of net (loss) gain recognized in earnings(b)
$(9.6)$6.1 $1.7 
(a)Net change in the fair value of the effective portion classified in other comprehensive income (loss).
(b)Classified in net foreign currency transaction (loss) gain.
v3.25.4
Fair Value Measurements
12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Financial Instruments
The carrying amounts reported in the consolidated balance sheets for cash and cash equivalents, restricted cash, accounts receivable, other current assets, accounts payable and other current liabilities approximate fair value due to their short-term nature.
On February 21, 2024, the Company acquired certain investment securities in Brain Corp, a privately held autonomous technology company headquartered in San Diego, California. The investment consists of $12.1 million of redeemable convertible preferred stock, $12.2 million of non-redeemable convertible preferred stock, and $7.8 million of warrants. The redeemable convertible preferred stock is accounted for as an available-for-sale debt security. The non-redeemable convertible preferred stock and warrants are accounted for as equity securities. All securities were recorded at their allocated fair value at the acquisition date.

In December 2025, the Company obtained the ability to exercise significant influence over Brain Corp and, as a result, adopted the equity method of accounting for its equity securities investment. As of December 31, 2025, the investment is accounted for under the equity method (see Note 13 – Equity Method Investments).

The available-for-sale debt security is carried at fair value with changes in fair value recognized in accumulated other comprehensive income (loss). The Company estimates fair value using Level 3 inputs.

As of December 31, 2025, and December 31, 2024, a comparison of cost and market values of our debt and equity securities was as follows:
CostFair ValueGross Unrealized GainsGross Unrealized Losses
Balance as of December 31, 2025
Available-for-sale debt securities$12.1 $11.8 $— $(0.3)
Total debt securities$12.1 $11.8 $— $(0.3)
Balance as of December 31, 2024
Available-for-sale debt securities$12.1 $12.3 $0.2 $— 
Equity securities20.0 20.0 — — 
Total debt and equity securities$32.1 $32.3 $0.2 $— 

The aggregate unrealized gains and losses on available-for-sale debt securities, net of tax effects, are classified in accumulated other comprehensive loss within shareholders' equity.

Scheduled maturities of our debt securities were as follows:
Cost Fair Value
After 5 years through 10 years$12.1 $11.8 
Total debt securities$12.1 $11.8 
Fair Value Measurements and Financial Statement Presentation
Estimates of fair value for financial assets and financial liabilities are based on the framework established in the accounting guidance for fair value measurements. The framework defines fair value, provides guidance for measuring fair value and requires certain disclosures. The framework discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow) and the cost approach (cost to replace the service capacity of an asset or replacement cost). The
framework utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:
Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.
Level 3: Unobservable inputs that reflect the reporting entity’s own assumptions.
Our population of assets and liabilities subject to fair value measurements as of December 31, 2025 were as follows:
Fair ValueLevel 1Level 2Level 3
Assets:
Debt securities11.8 — — 11.8 
Foreign currency forward contracts0.3 — 0.3 — 
Cross-currency swaps2.4 — 2.4 — 
Interest rate swaps— — — — 
Total assets14.5 — 2.7 11.8 
Liabilities:
Foreign currency forward contracts0.1 — 0.1 — 
Cross-currency swaps17.8 — 17.8 — 
Interest rate swaps0.4 — 0.4 — 
Total liabilities$18.3 $— $18.3 $— 
Our population of assets and liabilities subject to fair value measurements as of December 31, 2024 were as follows:
Fair ValueLevel 1Level 2Level 3
Assets:
Equity securities20.0 — — 20.0 
Debt securities12.3 — — 12.3 
Foreign currency forward contracts0.8 — 0.8 — 
Cross-currency swaps3.4 — 3.4 — 
Interest rate swaps0.1 — 0.1 — 
Total assets36.6 — 4.3 32.3 
Liabilities:
Foreign currency forward contracts— — — — 
Cross-currency swaps— — — — 
Interest rate swaps0.2 — 0.2 — 
Total liabilities$0.2 — $0.2 $— 
Our foreign currency forward exchange contracts, cross-currency swaps and interest rate swaps are valued using observable Level 2 market expectations at the measurement date and standard valuation techniques to convert future amounts to a single present value amount. Further details regarding our foreign currency forward exchange and option contracts are discussed in Note 11.
There were no transfers into or out of Level 3 investments in 2025 or 2024.
The fair value and carrying value of total debt, including current portion, was $281.4 million and $273.6 million, respectively, as of December 31, 2025. The fair value was estimated using Level 3 inputs based on the borrowing rates currently available to us for bank loans with similar terms and remaining maturities.
v3.25.4
Retirement Benefit Plans
12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Retirement Benefit Plans Retirement Benefit Plans
Substantially all U.S. employees are covered by various retirement benefit plans, including defined contribution savings plans and postretirement medical plans. Retirement benefits for eligible employees in foreign locations are funded principally through defined benefit plans, annuity or government programs.

Defined Benefit Pension Plans
We have a U.S. nonqualified supplemental benefit plan (the “U.S. Nonqualified Plan”) to provide additional retirement benefits for certain employees whose benefits under our 401(k) plan or U.S. Pension Plan are limited by either the Employee Retirement Income Security Act or the Internal Revenue Code.
We also have defined benefit pension plans in the United Kingdom, Germany, France and Italy (the “U.K. Pension Plan”, the “German Pension Plan,” "French Pension Plan" and the "Italian Pension Plan"). The U.K. Pension Plan, French Pension Plan, German Pension Plan and Italian Pension Plan cover certain current and retired employees and all plans are closed to new participants.
In December 2018, the U.K. Pension Plan was amended to close all future accrual of benefits to existing active members.
In December 2024, the Trustees of the U.K. Pension Plan entered into an agreement with an insurer to acquire an insurance policy that operates as an investment asset, with the intent of matching part of the U.K. Pension Plan’s future cash outflow arising from the accrued pension liabilities of 26 non-insured pensioner members. Such an arrangement is commonly termed as a “partial buy-in.” The benefit obligation was not transferred to the insurer and remains with the Company. The partial buy-in insurance contract is classified as a Level 3 investment. The value of the insurance contract is based on significant unobservable inputs including
plan participant demographics, in addition to observable inputs which include expected return on assets and estimated value premium.

The partial buy-in arrangement also allows for the possible future conversion into a buy-out arrangement where the insurance company would assume responsibility for paying the insured benefits directly to the members of the U.K. Pension Plan, at which time the Company would derecognize the assets and liabilities of the pension plan but would, however, remain responsible for any residual risks once the U.K. Pension Plan is wound-up.
The Italian Plan is an employee termination indemnity mandated by Italian law to all employees employed prior to 2008. Benefits are paid out when employees covered under the plan are terminated for any reason. Due to changes in Italian law, such termination indemnities are no longer available to new participants.

Retiree Health Care Plan
We have a U.S. postretirement medical benefit plan (the “U.S. Retiree Plan”) to provide certain healthcare benefits for U.S. employees hired before January 1, 1999. Eligibility for those benefits is based upon a combination of years of service with us and age upon retirement

Summarized financial information about our defined benefit pension plans and retiree health care plan is presented below:
U.S. Nonqualified PlanNon-U.S.
Pension Benefits
Postretirement
Medical Benefits
202520242025202420252024
Change in benefit obligation:
Benefit obligation at beginning of year$0.8 $0.9 $10.3 $10.4 $4.3 $4.6 
Service cost— — 0.1 0.1 — — 
Interest cost— — 0.5 0.4 0.2 0.2 
Actuarial loss (gain)0.1 — 0.3 (0.2)1.1 0.1 
Foreign exchange— — 1.0 (0.4)— — 
Net transfer in— — — 0.7 — — 
Benefits paid(0.1)(0.1)(0.9)(0.7)(0.8)(0.6)
Benefit obligation at end of year$0.8 $0.8 $11.3 $10.3 $4.8 $4.3 
Change in fair value of plan assets and net accrued liabilities:
Fair value of plan assets at beginning of year$— $— $12.6 $12.7 $— $— 
Actual return on plan assets— — 0.3 (0.2)— — 
Employer contributions0.1 0.1 0.5 0.3 0.8 0.6 
Foreign exchange— — 0.9 (0.2)— — 
Net transfer in— — — 0.7 — — 
Benefits paid(0.1)(0.1)(0.9)(0.7)(0.8)(0.6)
Fair value of plan assets at end of year— — 13.4 12.6 — — 
Funded status at end of year$(0.8)$(0.8)$2.1 $2.3 $(4.8)$(4.3)
Amounts recognized in the consolidated balance sheets consist of:
Noncurrent other assets$— $— $6.2 $6.4 $— $— 
Current liabilities(0.1)(0.1)(0.3)(0.3)(0.6)(0.5)
Long-term liabilities(0.7)(0.7)(3.8)(3.8)(4.2)(3.8)
Net accrued liability$(0.8)$(0.8)$2.1 $2.3 $(4.8)$(4.3)
Amounts recognized in accumulated other comprehensive loss consist of:
Prior service cost$— $— $(0.1)$(0.1)$— $— 
Net actuarial (loss) gain(0.7)(0.7)1.9 2.7 — 1.4 
Accumulated other comprehensive (loss) income$(0.7)$(0.7)$1.8 $2.6 $— $1.4 
The accumulated benefit obligation ("ABO") for all defined benefit pension plans was $11.9 million and $10.9 million as of December 31, 2025 and 2024, respectively. The ABO for plans that have plan assets was $7.2 million and $6.3 million as of December 31, 2025 and 2024, respectively.

The projected benefit obligation ("PBO") for all defined benefit pension plans was $4.8 million and $4.9 million as of December 31, 2025 and 2024, respectively.

By their nature, certain of our plans do not have plan assets. The accumulated benefit obligation for these plans was $4.6 million and $4.6 million as of December 31, 2025 and 2024, respectively.

Amounts recognized in other comprehensive income in 2025 and 2024 were as follows:
U.S. Nonqualified PlanNon-U.S.
Pension Benefits
Postretirement
Medical Benefits
202520242023202520242023202520242023
Net actuarial loss0.1 0.1 0.1 0.8 0.8 (0.9)1.1 0.1 (0.7)
Foreign exchange— — — (0.2)0.1 — — — — 
Amortization of net actuarial (loss) gain(0.1)(0.1)(0.1)0.1 0.1 0.1 0.3 0.3 0.2 
Amounts recorded in other comprehensive income$— $— $— $0.7 $1.0 $(0.8)$1.4 $0.4 $(0.5)

The components of the net periodic benefit expense (income) for the three years ended December 31 were as follows:
U.S. Nonqualified PlanNon-U.S.
Pension Benefits
Postretirement
Medical Benefits
202520242023202520242023202520242023
Service cost$— $— $— $0.1 $0.1 $0.1 $— $— $— 
Interest cost— — — 0.5 0.4 0.5 0.2 0.2 0.3 
Expected return on plan assets— — — (0.8)(0.8)(0.7)— — — 
Amortization of net actuarial loss (gain)0.1 0.1 0.1 (0.1)(0.1)(0.1)(0.2)(0.3)(0.2)
Net periodic benefit expense (income)$0.1 $0.1 $0.1 $(0.3)$(0.4)$(0.2)$— $(0.1)$0.1 

Health Care Cost Trend Rates

Assumed health care cost trend rates as of December 31 were as follows:
20252024
Health care cost trend rate assumed next year7.65 %8.40 %
Ultimate trend rate4.00 %4.00 %
Year that trend reaches ultimate rate20502047
We review our health care cost trend rates annually. Our review is based on data we collect about our health care claims experience and information provided by our actuaries.

Assumptions
Weighted-average assumptions used to determine benefit obligations as of December 31 were as follows:
U.S. Nonqualified PlanNon-U.S.
Pension Benefits
Postretirement
Medical Benefits
202520242025202420252024
Discount rate5.00 %5.42 %4.92 %4.65 %4.90 %5.39 %
Rate of compensation increase— %— %3.18 %3.00 %— %— %
Weighted-average assumptions used to determine net periodic benefit costs as of December 31 were as follows:
U.S. Nonqualified PlanNon-U.S.
Pension Benefits
Postretirement
Medical Benefits
202520242023202520242023202520242023
Discount rate5.42 %5.07 %5.37 %4.65 %4.26 %4.68 %5.39 %5.06 %5.37 %
Expected long-term rate of return on plan assets— %— %— %6.10 %6.10 %6.10 %— %— %— %
Rate of compensation increase— %— %— %3.00 %3.00 %2.25 %— %— %— %

The discount rate reflects the rate at which the benefit obligations could be effectively settled at the measurement date and is based on yields of high-quality corporate bonds with durations consistent with the plan liabilities. The Company works with its outside actuaries to estimate the timing and amount of expected future benefit payments and applies a yield curve derived from high-quality corporate bond yields to those expected cash flows to determine the discount rate. For 2025, the Company used the Mercer Above Mean Yield Curve for the U.S. plans and the Mercer Yield Curve for the Non-U.S. plans.

The expected long-term rate of return on plan assets reflects the target investment allocation and expected long-term portfolio returns for each Non-U.S. pension plan.

Fair Value of Plan Assets

The fair value of our U.K. Pension Plan and the respective level in the fair value hierarchy as of December 31, 2025 were as follows:
Quoted Prices in Active Markets for
Identical Assets
Significant Observable InputsSignificant Unobservable Inputs
Asset categoryFair Value(Level 1)(Level 2)(Level 3)
Investment account held by pension plan(a)
$7.2 $7.2 $— $— 
Buy-in insurance contract(b)
6.2 — — 6.2 
Total$13.4 $7.2 $— $6.2 

(a)This category is comprised of investments in fixed income securities.
(b)This represents the U.K. Pension Plan partial buy-in assets comprised of investments in insurance contracts.
The fair value of our U.K. Pension Plan and the respective level in the fair value hierarchy as of December 31, 2024 were as follows:
Quoted Prices in Active Markets for
Identical Assets
Significant Observable InputsSignificant Unobservable Inputs
Asset categoryFair Value(Level 1)(Level 2)(Level 3)
Investment account held by pension plan(a)
$6.7 $— $— $6.7 
Buy-in insurance contract(b)
5.9 — — 5.9 
Total$12.6 $— $— $12.6 
(a)This category is comprised of investments in insurance contracts.
(b)This represents the U.K. Pension Plan partial buy-in assets comprised of investments in insurance contracts.
Estimates of the fair value of the U.K. Pension Plan are prepared in accordance with the framework established under the accounting guidance for fair value measurements. A summary of the three fair value hierarchy levels is provided in Note 12.
The Investment Account held by the U.K. Pension Plan primarily invests in insurance contracts to fund the plan and continues to be classified as Level 3. The fair value of these contracts is based on the cash surrender values determined by the provider, representing the amounts the plan would receive if the contracts were cashed out at year-end. The underlying assets of these contracts are primarily invested in instruments traded in active markets.
In 2025, $7.2 million was reallocated from the insurance contracts to a bond fund. This portion of the Investment Account is now classified as Level 1 reflecting its valuation based on observable market prices.
A reconciliation of the beginning and ending balances of the Level 3 investments of our U.K. Pension Plan during the years ended December 31 was as follows:
20252024
Fair value at beginning of year$12.6 $12.7 
Purchases, sales, issuances and settlements, net(0.5)(0.4)
Net (loss) gain0.3 (0.2)
Net transfer into (out of) Level 3(7.2)0.7 
Foreign currency1.0 (0.2)
Fair value at end of year$6.2 $12.6 
The primary objective of our U.K. Pension Plan is to meet retirement income commitments to plan participants at a reasonable cost to us and to maintain a sound actuarial funded status. This objective is accomplished through growth of capital and safety of funds invested. Assets are invested in securities to achieve growth of capital over inflation through appreciation and accumulation and reinvestment of dividend and interest income. Investments are diversified to control risk. The U.K. Pension Plan is invested in insurance contracts with underlying investments primarily in equity and fixed income securities. All other Pension Plans are unfunded, which is customary.

Future Contributions and Benefit Payments
We do not expect to be required to make contributions to our U.S. Nonqualified Plan in 2026. We expect to contribute $0.6 million to our U.S. Retiree Plan in 2026. We expect contributions to our U.K. Pension Plan, German Pension Plan, French Pension Plan and Italian Pension Plans to be $0.3 million in 2026.

Estimated benefit payments, which reflect expected future service, as appropriate, are expected to be paid from 2026 to 2035 as follows:
U.S.
Nonqualified Plan
Non-U.S.
Pension Benefits
Postretirement
Medical Benefits
2026$0.1 $0.8 $0.6 
20270.1 0.6 0.6 
20280.1 0.8 0.6 
20290.1 0.7 0.6 
20300.1 0.9 0.5 
2031 to 20350.3 4.1 2.0 
Total$0.8 $7.9 $4.9 

Defined Contribution Plans
Our defined contribution savings plan (“401(k) plan”) covers substantially all U.S. employees. Under this plan, we match up to 3% of the employee’s annual compensation in cash to be invested per their election. We also make a discretionary profit sharing contribution to the 401(k) plan for employees with more than one year of service in accordance with our Profit Sharing Plan. This contribution is based upon our financial performance and can be funded in the form of a direct deposit into the employees 401(k) account, cash, or a combination of both. Expenses for the 401(k) plan, including profit sharing contributions, were $5.6 million, $10.0 million and $10.5 million during 2025, 2024 and 2023, respectively.
v3.25.4
Shareholders' Equity
12 Months Ended
Dec. 31, 2025
Stockholders' Equity Note [Abstract]  
Shareholders' Equity Shareholders' Equity
Authorized Shares
We are authorized to issue an aggregate of 60,000,000 shares, all of which are designated as Common Stock having a par value of $0.375 per share. The Board of Directors is authorized to establish one or more series of preferred stock, setting forth the designation of each such series, and fixing the relative rights and preferences of each such series.
Accumulated Other Comprehensive Loss
The changes in components of accumulated other comprehensive loss, net of tax, were as follows:
Foreign Currency Translation
Adjustments
Pension and Postretirement
Medical Benefits
Derivative Financial InstrumentsUnrealized Gain (Loss) on Debt SecuritiesTotal
December 31, 2023$(45.6)$3.7 $(0.4)$— $(42.3)
Other comprehensive (loss) income before reclassifications(28.6)(0.9)2.0 0.2 (27.3)
Amounts reclassified from AOCL(1.0)— (2.1)— (3.1)
Net current period other comprehensive (loss) income(29.6)(0.9)(0.1)0.2 (30.4)
December 31, 2024$(75.2)$2.8 $(0.5)$0.2 $(72.7)
Other comprehensive income (loss) before reclassifications42.3 (1.7)1.6 (0.5)41.7 
Amounts reclassified from AOCL(1.0)— (1.2)— (2.2)
Net current period other comprehensive income (loss) 41.3 (1.7)0.4 (0.5)39.5 
December 31, 2025$(33.9)$1.1 $(0.1)$(0.3)$(33.2)
Accumulated other comprehensive loss associated with pension and postretirement benefits, derivative financial instruments, and unrealized gain on debt securities is included in Notes 14, 11 and 9, respectively.
Repurchase of Common Stock
On February 11, 2025, the Board of Directors authorized the repurchase of up to 2,000,000 shares. Our stock repurchase program is not subject to an expiration date.
During the year ended December 31, 2025, the Company paid $87.7 million to repurchase 1,108,998 shares of its common stock at an average price of $79.03 per share. As of December 31, 2025, 1,514,063 shares were available to be repurchased. The aggregate cost and average price per share does not include the effect of the 1% excise tax on certain share repurchases enacted under the Inflation Reduction Act of 2022. The Company incurred $0.8 million of excise taxes during 2025.
The Company paid $19.6 million to repurchase 198,352 shares during the year ended December 31, 2024.
v3.25.4
Leases
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases Leases
We lease facilities, vehicles and equipment under the operating lease agreements, which include both monthly and longer-term arrangements.
Certain operating leases for vehicles contain residual value guarantee provisions, which would generally become due at the expiration of the operating lease agreement if the fair value of the leased vehicles is less than the guaranteed residual value. As of December 31, 2025, the aggregate residual value guarantee related to these leases was approximately $25.5 million. We believe the likelihood of funding the guarantee obligation under any provision of the operating lease agreement is remote.
The lease assets and liabilities as of December 31 were as follows:
LeasesClassification20252024
Assets
Operating lease assetsOperating lease assets$56.9 $54.6 
Finance lease assets
Property, plant and equipment(a)
1.1 1.1 
Total leased assets$58.0 $55.7 
Liabilities
Current:
OperatingOther current liabilities$21.7 $18.5 
FinanceCurrent portion of long-term debt0.4 0.5 
Noncurrent:
OperatingLong-term operating lease liabilities35.5 36.3 
FinanceLong-term debt0.7 0.7 
Total lease liabilities$58.3 $56.0 
(a)
Finance lease assets are recorded net of accumulated amortization of $0.8 million and $0.3 million, and as of December 31, 2025 and December 31, 2024, respectively.
The lease cost for the three years ended December 31 was as follows:
Lease Cost202520242023
Operating lease cost(a)
$31.7 $30.1 $28.9 
Finance lease cost(b)
0.5 0.2 0.1 
Total lease cost$32.2 $30.3 $29.0 
(a)
Includes short-term lease costs of $4.3 million, $6.2 million, and $5.9 million and variable lease costs of $3.0 million, $2.4 million and $4.2 million for the years ended December 31, 2025 and December 31, 2024, respectively.
(b)
Includes amortization of leased assets and interest on lease liabilities.
The maturity of lease liabilities as of December 31, 2025 was as follows:
Maturity of Lease LiabilitiesOperating LeasesFinance LeasesTotal
2026$24.3 $0.4 $24.7 
202719.1 0.4 19.5 
202811.2 0.3 11.5 
20294.4 0.1 4.5 
20301.6 — 1.6 
Thereafter2.1 — 2.1 
Total lease payments$62.7 $1.2 $63.9 
Less: Interest(5.5)(0.1)(5.6)
Present value of lease liabilities$57.2 $1.1 $58.3 
The lease term and discount rate as of December 31 were as follows:
Lease Term and Discount Rate20252024
Weighted-average remaining lease term (years):
Operating leases3.23.5
Finance leases3.24.0
Weighted-average discount rate:
Operating leases6.1%6.1%
Finance leases5.6%5.2%
Other information related to cash paid related to lease liabilities and lease assets obtained for the years ended December 31 was as follows:
Other Information20252024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$24.5 $21.3 
Operating cash flows from finance leases0.1 — 
Financing cash flows from finance leases0.4 0.2 
Lease assets obtained in exchange for new finance lease liabilities0.8 1.0 
Lease assets obtained in exchange for new operating lease liabilities18.8 34.2 
Leases Leases
We lease facilities, vehicles and equipment under the operating lease agreements, which include both monthly and longer-term arrangements.
Certain operating leases for vehicles contain residual value guarantee provisions, which would generally become due at the expiration of the operating lease agreement if the fair value of the leased vehicles is less than the guaranteed residual value. As of December 31, 2025, the aggregate residual value guarantee related to these leases was approximately $25.5 million. We believe the likelihood of funding the guarantee obligation under any provision of the operating lease agreement is remote.
The lease assets and liabilities as of December 31 were as follows:
LeasesClassification20252024
Assets
Operating lease assetsOperating lease assets$56.9 $54.6 
Finance lease assets
Property, plant and equipment(a)
1.1 1.1 
Total leased assets$58.0 $55.7 
Liabilities
Current:
OperatingOther current liabilities$21.7 $18.5 
FinanceCurrent portion of long-term debt0.4 0.5 
Noncurrent:
OperatingLong-term operating lease liabilities35.5 36.3 
FinanceLong-term debt0.7 0.7 
Total lease liabilities$58.3 $56.0 
(a)
Finance lease assets are recorded net of accumulated amortization of $0.8 million and $0.3 million, and as of December 31, 2025 and December 31, 2024, respectively.
The lease cost for the three years ended December 31 was as follows:
Lease Cost202520242023
Operating lease cost(a)
$31.7 $30.1 $28.9 
Finance lease cost(b)
0.5 0.2 0.1 
Total lease cost$32.2 $30.3 $29.0 
(a)
Includes short-term lease costs of $4.3 million, $6.2 million, and $5.9 million and variable lease costs of $3.0 million, $2.4 million and $4.2 million for the years ended December 31, 2025 and December 31, 2024, respectively.
(b)
Includes amortization of leased assets and interest on lease liabilities.
The maturity of lease liabilities as of December 31, 2025 was as follows:
Maturity of Lease LiabilitiesOperating LeasesFinance LeasesTotal
2026$24.3 $0.4 $24.7 
202719.1 0.4 19.5 
202811.2 0.3 11.5 
20294.4 0.1 4.5 
20301.6 — 1.6 
Thereafter2.1 — 2.1 
Total lease payments$62.7 $1.2 $63.9 
Less: Interest(5.5)(0.1)(5.6)
Present value of lease liabilities$57.2 $1.1 $58.3 
The lease term and discount rate as of December 31 were as follows:
Lease Term and Discount Rate20252024
Weighted-average remaining lease term (years):
Operating leases3.23.5
Finance leases3.24.0
Weighted-average discount rate:
Operating leases6.1%6.1%
Finance leases5.6%5.2%
Other information related to cash paid related to lease liabilities and lease assets obtained for the years ended December 31 was as follows:
Other Information20252024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$24.5 $21.3 
Operating cash flows from finance leases0.1 — 
Financing cash flows from finance leases0.4 0.2 
Lease assets obtained in exchange for new finance lease liabilities0.8 1.0 
Lease assets obtained in exchange for new operating lease liabilities18.8 34.2 
v3.25.4
Commitments and Contingencies
12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
In the ordinary course of business, we may become liable with respect to pending and threatened litigation, tax, environmental and other matters. Legal costs associated with such matters are expensed as incurred.
Oxygenator Water Techs vs. Tennant Company
On November 25, 2024, the Company received an adverse jury verdict in an intellectual property damages dispute in the United States District Court for the District of Minnesota (the "Court"). Oxygenator Water Technologies, Inc. ("OWT") alleged that between 2015 and 2023, the Company infringed certain of OWT’s patents through the manufacture and sale of certain component parts in ecH2O and nanoclean system options included on commercial floor scrubbers. The jury ruled against the Company and awarded compensatory damages of $9.8 million, plus prejudgment interest of $4.7 million, in favor of OWT. Accordingly, in the fourth quarter of 2024, the Company recorded an accrued expense and a corresponding liability of $14.5 million.
Subsequently, on September 17, 2025, the Court issued a post-trial ruling enhancing damages by 30%, resulting in total damages and interest of approximately $20.2 million, including $9.8 million in compensatory damages, $2.9 million in enhanced damages, and $7.4 million in prejudgment interest. As a result, the Company recorded an incremental accrued expense and corresponding liability of $6.0 million for the year ended December 31, 2025.
The Company and OWT have appealed certain of the Court's decisions. In connection with the Company's appeal and in order to stay execution of the judgment pending resolution of the appeal, the Company obtained a supersedeas bond in the amount of $20.3 million, as required by the Court. The bond was issued by a third-party surety, and the Company pays an annual premium related to the bond. The bond secures payment of the judgment, including applicable post-judgment interest and costs, if the judgment is affirmed or otherwise becomes payable following the appeal. The Company has not posted cash collateral in connection with the bond.

As litigation outcomes are inherently uncertain and can result in unanticipated developments, it is possible that the Company’s exposure to loss could change following the issuance of these financial statements. The Company intends to vigorously defend its position through its appeal and assessment of next steps in the proceedings.
The ruling does not impact the Company’s ability to sell its products and is not expected to affect its long-term business objectives.
Other Matters
In addition to the above matter, the Company is involved in various other claims and litigation incidental to its business. Although the outcome of these matters cannot be determined with certainty, we do not expect that the final outcome will have a material effect on the Company's consolidated results of operations or financial position.
v3.25.4
Income Taxes
12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Income before income taxes for the three years ended December 31 was as follows:
202520242023
U.S. operations$37.3 $92.3 $94.2 
Foreign operations20.6 12.5 29.6 
Total$57.9 $104.8 $123.8 
Income tax expense for the three years ended December 31 was as follows:
202520242023
Current:
Federal$1.6 $19.1 $28.7 
Foreign7.5 7.9 8.5 
State1.1 3.6 4.0 
Total current$10.2 $30.6 $41.2 
Deferred:
Federal$5.0 $(1.8)$(8.7)
Foreign(2.0)(7.7)(17.3)
State0.9 — (0.9)
Total deferred$3.9 $(9.5)$(26.9)
Total:
Federal$6.6 $17.3 $20.0 
Foreign5.5 0.2 (8.8)
State2.0 3.6 3.1 
Total income tax expense$14.1 $21.1 $14.3 
In general, it is our practice and intention to permanently reinvest the earnings of our foreign subsidiaries and repatriate earnings only when the tax impact is zero or immaterial. Accordingly, no deferred taxes have been provided for withholding taxes or other taxes that would result upon repatriation of our approximately $107.6 million of undistributed earnings from foreign subsidiaries to the United States as those earnings continue to be permanently reinvested or the earnings will be remitted in a tax-neutral transaction.
The following table presents the reconciliation between our statutory income tax and effective income tax for the year ended December 31, 2025 in accordance with ASU 2023-09, which was adopted prospectively in 2025:
AmountPercent
Tax at U.S. statutory rate$12.1 21.0 %
Increases (decreases) in the tax rate from:
State and local income taxes, net of federal effect (a)
1.6 2.7 
Foreign tax effects:
Italy0.7 1.1 
Other1.3 2.2 
Tax credits:
Research and development credits(3.1)(5.4)
Other tax credits(0.1)(0.1)
Nontaxable or nondeductible items:
Nondeductible executive compensation2.2 3.8 
Other nontaxable or nondeductible items(0.4)(0.6)
Changes in unrecognized tax benefits(0.2)(0.4)
Effective income tax rate$14.1 24.3 %
(a)
The state and local jurisdictions that contribute to the majority (greater than 50%) of the tax effect in this category include California, Florida, Georgia, Michigan, New Jersey, New York, Texas, Pennsylvania, and Wisconsin.
The following table presents the reconciliation between our statutory income taxes and effective income taxes for the two years ended December 31 prior to the adoption of ASU 2023-09:
20242023
Tax at statutory rate21.0 %21.0 %
Increases (decreases) in the tax rate from:
State and local taxes, net of federal benefit3.4 2.4 
Effect of foreign operations(2.2)(10.9)
Effect of changes in valuation allowances— (0.2)
Nondeductible executive compensation2.5 1.0 
Stock based compensation(2.9)0.1 
Research and development credit(1.6)(1.3)
Other, net(0.1)(0.5)
Effective income tax rate20.1 %11.6 %
The effect of foreign operations line item includes (3.7%) and (12.0%) benefits for 2024 and 2023, respectively, associated with reductions to deferred tax liabilities on undistributed foreign earnings as those cumulative earnings were reduced by current year statutory book losses.
Deferred tax assets and liabilities were comprised of the following as of December 31:
20252024
Deferred tax assets:
Inventory$3.1 $2.2 
Compensation and employee benefits10.1 12.3 
Warranty reserves2.0 2.2 
Allowance for doubtful accounts and deferred revenue5.4 2.8 
Operating lease liabilities12.4 11.0 
Tax loss carryforwards14.4 7.7 
Tax credit carryforwards6.5 3.6 
Capitalized research and development costs2.9 19.0 
Goodwill and intangible assets10.1 7.0 
Other6.8 2.5 
Gross deferred tax assets$73.7 $70.3 
Less: valuation allowance(3.9)(3.3)
Total net deferred tax assets$69.8 $67.0 
Deferred tax liabilities:
Operating lease assets$13.2 $11.3 
Fixed assets7.2 9.2 
Capitalized implementation costs6.6 5.0 
Total deferred tax liabilities$27.0 $25.5 
Net deferred tax assets$42.8 $41.5 
Tax credit carryforwards consist of $5.8 million of U.S. federal and state tax credits and $1.4 million of Netherlands tax credits. We have cumulative tax losses and other tax attributes of $63.0 million in various countries ($14.4 million tax effected). Cumulative losses can be used to offset the income tax liabilities on future income in these countries. Of these losses and other tax attributes, $62.0 million have unlimited carryforward periods and $1.0 million have a limited carryforward period.
The valuation allowance as of December 31, 2025 principally applies to foreign net operating losses as well as foreign and domestic tax credit carryforwards which, in the opinion of management, are more likely than not to expire unutilized. However, to the extent that tax benefits related to these carryforwards are realized in the future, the reduction in the valuation allowance will reduce income tax expense.
The amount of cash income taxes paid for the year ended December 31, 2025, disaggregated in accordance with ASU 2023-09, is as follows:
2025
U.S. federal2.5 
U.S. state and local2.0 
Total U.S.4.5 
Foreign:
Germany2.2 
Brazil0.9 
Canada federal0.7 
Netherlands0.7 
France0.7 
Other3.7 
Total foreign8.9 
Total income taxes paid$13.4 
The amount of cash income taxes paid during the years ended December 31, 2024 and 2023 were $30.2 million and $39.5 million, respectively.
A reconciliation of the beginning and ending amount of unrecognized tax benefits was as follows:
20252024
Beginning balance5.9 4.1 
Increases as a result of tax positions taken during a prior period0.4 — 
Increases as a result of tax positions taken during the current year0.5 0.9 
Increases relating to prior period tax positions of acquired entities— 1.4 
Decreases as a result of a lapse of the applicable statute of limitations(1.0)(0.5)
Increases as a result of foreign currency fluctuations0.1 — 
Ending balance$5.9 $5.9 
Included in the balance of unrecognized tax benefits as of December 31, 2025 and 2024 are potential benefits of $5.5 million and $5.5 million, respectively, that if recognized, would affect the effective tax rate.
We recognize potential accrued interest and penalties related to unrecognized tax benefits as a component of income tax expense. In addition to the liability of $5.9 million and $5.9 million for unrecognized tax benefits as of December 31, 2025 and 2024, there was approximately $0.8 million and $0.6 million, respectively, for accrued interest and penalties. To the extent interest and penalties are not assessed with respect to uncertain tax positions, the amounts accrued will be revised and reflected as an adjustment to income tax expense.
We and our subsidiaries are subject to U.S. federal income tax as well as income tax of numerous state and foreign jurisdictions. We are generally no longer subject to U.S. federal tax examinations for taxable years before 2019. The number of years which remain open for audit for U.S. state or foreign tax purposes varies by jurisdiction but generally ranges from 3-5 years. We are currently undergoing income tax examinations in various foreign jurisdictions. Although the final outcome of these examinations cannot be currently determined, we believe that we have adequate reserves with respect to these examinations.
On July 4, 2025, the U.S. enacted H.R. 1 "A bill to provide for reconciliation pursuant to Title II of H. Con. Res. 14," commonly referred to as the One Big Beautiful Bill Act (the “Act”). The Act includes significant corporate tax provisions such as accelerated depreciation deductions, immediate expensing of domestic research costs, and modifications to the international tax framework. The legislation has multiple effective dates, with certain provisions effective starting January 1, 2025. We currently expect a cash tax benefit in 2025 from the enhanced expensing provisions. The Act does not materially impact our effective tax rate.
v3.25.4
Share-Based Compensation
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Share-Based Compensation
In May 2024, our shareholders approved the Amended and Restated 2020 Stock Incentive Plan (“2020 Plan”) at the Annual Meeting held on May 1, 2024. Upon approval of the 2020 Plan, the Company’s prior equity compensation plans, including the former Non‑Employee Director Stock Option Plan, the 2007 Plan, the 2010 Plan, and the 2017 Plan, were terminated, although all outstanding awards under those plans remain in effect until exercised, forfeited, or expired in accordance with their terms.
Beginning May 1, 2024, all new share‑based compensation awards have been granted under the 2020 Plan. When originally approved, the 2020 Plan authorized 1,750,000 shares of common stock for issuance. The May 2024 shareholder approval of the Amended and Restated 2020 Plan increased the share reserve by an additional 1,100,000 shares, resulting in a total of 2,850,000 shares authorized for issuance under the 2020 Plan. As of December 31, 2025, there were 1,563,640 shares available for issuance under the 2020 Plan.
Total compensation expense related to all share-based compensation plans was $10.4 million ($0.2 million net of tax benefit), $11.9 million ($3.1 million net of tax benefit) and $11.6 million ($0.1 million net of tax benefit), respectively, during the years ended 2025, 2024 and 2023.
Stock Option Awards
We determined the fair value of our stock option awards using the Black-Scholes valuation model that uses the assumptions noted in the table below. The expected term selected for stock options granted during the year represents the period of time that the stock options are expected to be outstanding based on historical data of stock option holder exercise and termination behavior of similar grants. The risk-free interest rate for periods within the contractual life of the stock option is based on the U.S. Treasury rate over the expected life at the time of grant. Expected volatility is based upon historical volatility of our stock over a period equal to the expected life of each stock option grant. Dividend yield is estimated over the expected life based on our dividend policy and historical dividends paid. To determine the amount of compensation cost to be recognized in each period, we account for forfeitures as they occur. We did not grant any stock options during 2025 or 2024.
The following table illustrates the valuation assumptions used for the 2023 stock option grants:
2023
Expected volatility35 %
Weighted-average expected volatility35 %
Expected dividend yield1.6 %
Weighted-average expected dividend yield1.6 %
Expected term, in years5
Risk-free interest rate4.2 %
New stock option awards granted vest one-third each year over a three-year period and have a ten-year contractual term. Compensation expense equal to the grant date fair value is recognized for these awards on a straight-line basis over the awards' vesting period. Stock options granted to employees are subject to accelerated expensing if the option holder meets the retirement definition set forth in the applicable equity and inventive plan.
The following table summarizes stock option activity during the year ended December 31, 2025:
Number of SharesWeighted-Average Exercise
Price
Weighted-Average Remaining Contractual Life (years)Aggregate Intrinsic Value
Outstanding as of January 1, 2025302,404$72.18 
Exercised(10,471)55.28 
Outstanding as of December 31, 2025291,933$72.78 4.5$1.0 
Options exercisable as of December 31, 2025273,531$72.78 4.3$1.0 
Options expected to vest as of December 31, 202518,402$72.88 7.2$— 
There were no options granted during the year ended December 31, 2025 or 2024. The weighted-average grant date fair value of stock options granted during the year ended 2023 was $24.21.
The total intrinsic value of stock options that were exercised during the years ended December 31, 2025, 2024 and 2023 was $0.3 million, $14.5 million and $5.9 million, respectively. As of December 31, 2025, there was unrecognized compensation cost related to nonvested stock options of $0.1 million, which is expected to be recognized over a weighted-average period of 0.2 years.
Restricted Share Awards
Restricted share awards for employees generally have a three-year vesting period from the effective date of the grant. Restricted share awards to non-employee directors vest upon a change of control or upon termination of service as a director occurring at least six months after grant date of the award so long as termination is for one of the following reasons: death; disability; retirement in accordance with Tennant policy (e.g., age, term limits, etc.); resignation at request of Board (other than for gross misconduct); resignation following at least six months’ advance notice; failure to be renominated (unless due to unwillingness to serve) or reelected by shareholders; or removal by shareholders. We use the closing share price the day before the grant date to determine the fair value of our restricted share awards. Expenses for these awards are recognized over the vesting period.
The following table summarizes restricted share award activity during the year ended December 31, 2025:
Number of SharesWeighted-Average Grant Date Fair
Value
Outstanding as of January 31, 202586,205$80.18 
Granted41,06689.16 
Vested(16,097)78.78 
Forfeited(4,611)98.20 
Outstanding as of December 31, 2025106,563$83.07 
The weighted-average grant date fair value of restricted share awards granted during the years ended December 31, 2025, 2024 and 2023 was $89.16, $110.16 and $72.88, respectively.
The total fair value of restricted shares vested during the years ended December 31, 2025, 2024 and 2023 was $1.3 million, $1.6 million and $0.4 million, respectively. As of December 31, 2025, there was $3.7 million of total unrecognized compensation cost related to restricted share awards, which is expected to be recognized over a weighted-average period of 1.8 years.
Performance Share Awards
We grant performance share awards to key employees as a part of our long-term management compensation program. These awards are earned based upon achievement of certain financial performance targets over a three year period. The number of shares of common stock a participant receives will be increased (up to 200 percent of target levels) or reduced (down to zero) based on the level of achievement of the financial performance targets. We use the closing share price the day before the grant date to determine the fair value of our performance share awards. Expenses on these awards are recognized over a three-year performance period. Performance shares are granted in restricted stock units. They are payable in stock and vest solely upon achievement of certain financial performance targets during this three-year period.
The following table summarizes performance share awards activity during the year ended December 31, 2025:
Number of SharesWeighted-Average Grant Date Fair
Value
Outstanding as of January 1, 2025149,617$85.94 
Granted75,25687.11 
Vested(57,653)78.29 
Forfeited(11,337)93.32 
Outstanding as of December 31, 2025155,883$88.87 
The weighted-average grant date fair value of performance share awards granted during the years ended December 31, 2025, 2024 and 2023 was $87.11, $108.97 and $73.12, respectively.
As of December 31, 2025, there was $4.0 million of total unrecognized compensation costs related to performance share awards, which is expected to be recognized over a weighted-average period of 1.7 years.
Restricted Stock Units
We grant restricted stock units to employees and non-employee directors, which generally vest within three years from the date of the grant. Vested restricted stock units are paid out in stock. We use the closing share price the day before the grant date to determine the fair value of our restricted stock units. Expenses on these awards are recognized on a straight-line basis over the vesting period of the award.
The following table summarizes restricted stock units activity during the year ended December 31, 2025:
Number of SharesWeighted-Average Grant Date Fair
Value
Outstanding as of January 1, 2025132,143$85.08 
Granted43,00780.81 
Vested(37,629)81.19 
Forfeited(11,399)91.14 
Outstanding as of December 31, 2025126,122$84.24 
The weighted-average grant date fair value of restricted stock units granted during the years ended December 31, 2025, 2024 and 2023 was $80.81, $106.54 and $77.59, respectively.
The total fair value of shares vested during the years ended December 31, 2025, 2024 and 2023 was $3.1 million, $2.2 million and $3.0 million, respectively. As of December 31, 2025, there was $3.1 million of total unrecognized compensation cost related to restricted stock units, which is expected to be recognized over a weighted-average period of 1.5 years.
Share-Based Liabilities
As of December 31, 2025 and 2024, we had $0.6 million and $0.4 million in total share-based liabilities recorded on our consolidated balance sheets, respectively.
v3.25.4
Income Attributable to Tennant Company Per Share
12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Income Attributable to Tennant Company Per Share Income Attributable to Tennant Company Per Share
The computations of basic and diluted earnings attributable to Tennant Company per share for the years ended December 31 were as follows:
202520242023
Numerator:
Net income$43.8 $83.7 $109.5 
Denominator:
Basic - weighted average shares outstanding18,366,21618,786,87118,509,523
Effect of dilutive securities213,491309,267274,110
Diluted - weighted average shares outstanding18,579,70719,096,13818,783,633
Basic earnings per share$2.38 $4.46 $5.92 
Diluted earnings per share$2.36 $4.38 $5.83 
Excluded from the dilutive securities shown above were options to purchase and shares to be paid out under share-based compensation plans of 150,421, 97,463 and 249,690 shares of common stock during 2025, 2024 and 2023, respectively. These exclusions were made if the exercise prices of these options are greater than the average market price of our common stock for the period, if the number of shares we can repurchase under the treasury stock method exceeds the weighted shares outstanding in the options, or if we have a net loss, as these effects are anti-dilutive.
v3.25.4
Segment Reporting
12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
We are organized into four operating segments: North America; Latin America; Europe, Middle East, Africa; and Asia Pacific. We combine our North America and Latin America operating segments into the "Americas" for reporting net sales by geographic area. In accordance with the objective and basic principles of the applicable accounting guidance, we aggregate our operating segments into one reportable segment that consists of the design, manufacture and sale of products used primarily in the maintenance of nonresidential surfaces.
The Company's chief operating decision maker ("CODM") is our chief executive officer.
The CODM uses net income, that is also reported on the income statement as consolidated net income, to evaluate return on assets and decide whether to reinvest profits into segments or other areas, such as acquisitions or dividends. It is also used to monitor budget versus actual results, conduct competitive analysis by benchmarking against the Company's competitors, and assess segment performance. Additionally, the CODM uses net income to allocate resources, evaluate performance, and make key operating decisions, considering budget-to-actual variances on a quarterly basis. The CODM also uses gross profit to evaluate pricing, allocate resources, and assess segment performance by comparing actual results to historical and forecasted data.
Significant expenses within net income include cost of sales, research and development, and selling and administrative expenses, which are each separately presented on the Company’s Consolidated Statements of Income. Other segment items within net income include net foreign currency transaction gain (loss), interest expense, net, other (expense) income, net, and income tax expense.
The measure of segment assets is reported on the balance sheet as total consolidated assets. The following table presents net sales by geographic area for the three years ended December 31:
202520242023
Net Sales:
United States$670.9 $766.9 $726.8 
Other Americas121.1 121.6 113.5 
Americas792.0 888.5 840.3 
Europe, Middle East, Africa334.6 318.5 314.4 
Asia Pacific76.9 79.7 88.9 
Total$1,203.5 $1,286.7 $1,243.6 
Accounting policies of the operations in various operating segments are the same as those described in Note 2. Net sales are attributed to each operating segment based on the end user country and are net of intercompany sales. Apart from the United States shown in the table above, there were no individual foreign locations which had net sales which represented more than 10% of our consolidated net sales. No single customer represents more than 10% of our consolidated net sales.
The following table presents long-lived assets by geographic area as of December 31:
202520242023
Long-lived assets:
United States$172.9 $166.6 $104.2 
Other Americas40.3 29.0 31.9 
Americas213.2 195.6 136.1 
Italy238.9 193.7 218.0 
Other Europe, Middle East, Africa82.8 93.6 75.6 
Europe, Middle East, Africa321.7 287.3 293.6 
Asia Pacific31.3 29.6 30.4 
Total$566.2 $512.5 $460.1 
Long-lived assets consist of property, plant and equipment, goodwill, intangible assets and certain other assets. Apart from the United States and Italy shown in the table above, there are no other individual foreign locations which have long-lived assets which represent more than 10% of our consolidated long-lived assets.
v3.25.4
Schedule II - Valuation and Qualifying Accounts
12 Months Ended
Dec. 31, 2025
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
Schedule II - Valuation and Qualifying Accounts
Schedule II - Valuation and Qualifying Accounts
(In millions)202520242023
Allowance for doubtful accounts:
Balance at beginning of year$7.1 $7.2 $6.1 
Charged to costs and expenses7.3 2.6 4.4 
Charged to other accounts(a)
0.6 — — 
Deductions(b)
(4.6)(2.7)(3.3)
Balance at end of year$10.4 $7.1 $7.2 
Sales returns reserve:
Balance at beginning of year$2.2 $1.9 $1.4 
Charged to costs and expenses0.3 1.1 2.0 
Deductions(b)
(0.9)(0.8)(1.5)
Balance at end of year$1.6 $2.2 $1.9 
Allowance for excess and obsolete inventories:
Balance at beginning of year$15.2 $17.2 $14.2 
Charged to costs and expenses6.8 2.8 8.9 
Charged to other accounts(a)
1.1 0.1 0.1 
Deductions(c)
(3.3)(4.9)(6.0)
Balance at end of year$19.8 $15.2 $17.2 
Valuation allowance for deferred tax assets:
Balance at beginning of year$3.3 $3.2 $3.3 
Charged to costs and expenses0.5 (0.3)(0.3)
Charged to other accounts(a)
0.1 0.4 0.2 
Balance at end of year$3.9 $3.3 $3.2 
Warranty reserve:
Balance at beginning of year$10.5 $11.2 $10.9 
Charged to costs and expenses5.5 9.5 12.2 
Charged to other accounts(a)
0.2 (0.1)(0.1)
Deductions(d)
(6.5)(10.1)(11.8)
Balance at end of year$9.7 $10.5 $11.2 
(a)Primarily includes impact from foreign currency fluctuations.
(b)Includes accounts determined to be uncollectible and charged against reserves, net of collections on accounts previously charged against reserves.
(c)Includes inventory identified as excess, slow moving or obsolete and charged against reserves.
(d)Includes warranty claims charged against reserves.
v3.25.4
Insider Trading Arrangements
3 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Insider Trading Policies and Procedures
12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Risk Management and Strategy
We recognize the critical importance of developing, implementing, and maintaining robust cybersecurity processes to safeguard our information systems and protect the confidentiality, integrity, and availability of our data. Our approach to assessing, prioritizing, and effecting cybersecurity processes and projects is based on standards from the National Institute of Standards and Technology ("NIST").
We have established an enterprise risk management ("ERM") program that considers our enterprise strategy, information from internal stakeholders, and information from external sources (e.g., emerging risks and trends, evaluations by third parties, and best practices) to identify, assess, categorize, and monitor risks including cybersecurity risks. The ERM program develops enterprise risk profiles to address individual risk drivers, develop action plans, and monitor against key risk indicators. At least annually, the ERM program is presented to our Board, Audit Committee, and members of management.
We have strategically integrated cybersecurity risk management into our broader ERM program to promote a company-wide culture of cybersecurity risk management. This integration ensures that cybersecurity considerations are an integral part of our decision-making processes. Our strategy includes regular employee training and awareness on cybersecurity risks and related best practices, required password complexity, the use of multi-factor authentication, information security protocols, anti-virus and anti-ransomware software, a patch management program, the execution of tabletop exercises on a periodic basis, established policies and protocols for cyber incident response planning and reporting, and ongoing internal cybersecurity testing. Our risk management team works closely with our IT department to continuously evaluate and address cybersecurity risks in alignment with our business objectives and operational needs.
We test our ability to respond to cybersecurity incidents on a recurring basis. Additionally, we engage third-party service providers to assist with the ongoing monitoring for cybersecurity events and incidents, as well as to complete risk quantification analysis and perform penetration and vulnerability testing. If any gaps are identified, the third-party service providers also assist with incident assessment and response. We conduct thorough up-front security assessments of all third-party providers before engagement, led by our Vice President, Chief Information Office ("CIO") and our cybersecurity team, and we maintain ongoing monitoring to ensure compliance with our cybersecurity standards. This approach is designed to mitigate risks related to security incidents originating from third parties.
We have not encountered cybersecurity incidents or identified risks from cybersecurity threats that have materially impaired our operations or financial standing.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] We have strategically integrated cybersecurity risk management into our broader ERM program to promote a company-wide culture of cybersecurity risk management. This integration ensures that cybersecurity considerations are an integral part of our decision-making processes.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block] The Audit Committee is central to the Board's oversight of cybersecurity risks and bears the primary responsibility for this domain. The Audit Committee is composed of Board members with diverse expertise including risk management, technology, and finance, equipping them to oversee cybersecurity risks effectively.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] The Audit Committee is central to the Board's oversight of cybersecurity risks and bears the primary responsibility for this domain.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]
The Vice President, CIO provides comprehensive quarterly briefings to the Audit Committee. These briefings encompass a broad range of topics, including:
Current cybersecurity landscape and emerging threats;
Status of ongoing cybersecurity initiatives and strategies;
Incident reports and learnings from any cybersecurity events; and
Compliance with regulatory requirements and industry standards.
In addition to our quarterly meetings, the Audit Committee, CIO and CEO maintain an ongoing dialogue regarding emerging or potential cybersecurity risks.
Cybersecurity Risk Role of Management [Text Block]
Within our organization, we have a management team responsible for assessing and managing cybersecurity risks. The team is led by our CIO and consists of the Cyber Security Incident Response Team ("CSIRT") and internal audit personnel. The CSIRT is comprised of IT management and experienced cybersecurity personnel. The role of the CSIRT is to promptly handle an incident so that containment, investigation, and recovery can occur quickly. Where third-party services are leveraged, they ensure they are
engaged as necessary. The CSIRT Leader oversees and prioritizes actions during an incident's detection, analysis, and containment. They are also responsible for conveying the special requirements of high severity incidents to the rest of the organization as well as communicating potential impacts to the CIO. Additionally, they are responsible for understanding the service level agreements ("SLAs") in place with third parties, and the role third parties may play in specific response scenarios. Our CIO has over 30 years of experience in IT, enterprise security, and cyber risk management and has previously held global IT infrastructure and business solutions roles. In addition, our CSIRT Leader has 30 years of technology and cybersecurity experience and has previously held data security and global IT infrastructure positions at risk management and asset protection services companies.
The CIO and CSIRT, in combination with the Senior Vice President, Chief Transformation Officer and CEO, play a pivotal role in informing the Audit Committee of the Board of Directors on cybersecurity risks. The Audit Committee is central to the Board's oversight of cybersecurity risks and bears the primary responsibility for this domain. The Audit Committee is composed of Board members with diverse expertise including risk management, technology, and finance, equipping them to oversee cybersecurity risks effectively.
The Vice President, CIO provides comprehensive quarterly briefings to the Audit Committee. These briefings encompass a broad range of topics, including:
Current cybersecurity landscape and emerging threats;
Status of ongoing cybersecurity initiatives and strategies;
Incident reports and learnings from any cybersecurity events; and
Compliance with regulatory requirements and industry standards.
In addition to our quarterly meetings, the Audit Committee, CIO and CEO maintain an ongoing dialogue regarding emerging or potential cybersecurity risks. The CIO and CEO provide updates on any significant developments in the cybersecurity domain, ensuring the Board's oversight is proactive and responsive. The Audit Committee actively participates in strategic decisions related to cybersecurity, as well as tabletop exercises for tactical response readiness. This involvement ensures that cybersecurity considerations are integrated into the broader strategic objectives of Tennant Company. The Audit Committee conducts an annual review of the Company's cybersecurity posture and the effectiveness of its risk management strategies. This review helps in identifying areas for improvement and ensuring the alignment of cybersecurity efforts with the overall risk management framework.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] Within our organization, we have a management team responsible for assessing and managing cybersecurity risks. The team is led by our CIO and consists of the Cyber Security Incident Response Team ("CSIRT") and internal audit personnel. The CSIRT is comprised of IT management and experienced cybersecurity personnel.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] CIO has over 30 years of experience in IT, enterprise security, and cyber risk management and has previously held global IT infrastructure and business solutions roles. In addition, our CSIRT Leader has 30 years of technology and cybersecurity experience and has previously held data security and global IT infrastructure positions at risk management and asset protection services companies.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
The Vice President, CIO provides comprehensive quarterly briefings to the Audit Committee. These briefings encompass a broad range of topics, including:
Current cybersecurity landscape and emerging threats;
Status of ongoing cybersecurity initiatives and strategies;
Incident reports and learnings from any cybersecurity events; and
Compliance with regulatory requirements and industry standards.
In addition to our quarterly meetings, the Audit Committee, CIO and CEO maintain an ongoing dialogue regarding emerging or potential cybersecurity risks. The CIO and CEO provide updates on any significant developments in the cybersecurity domain, ensuring the Board's oversight is proactive and responsive.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
Nature of Business (Policies)
12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Basis of Statement Presentation Basis of Statement Presentation – The consolidated financial statements include the accounts of the Company and all subsidiaries in which we have a controlling financial interest. All intercompany transactions and accounts are eliminated in consolidation. Certain reclassifications to our previously reported financial information have been made to conform to the current period presentation.
Translation of Non-U.S. Currency
Translation of Non-U.S. Currency – Foreign currency-denominated assets and liabilities have been translated to U.S. dollars at year-end exchange rates, while income and expense items are translated at average exchange rates prevailing during the year. Gains or losses resulting from translation are included as a separate component of accumulated other comprehensive loss ("AOCL"). The majority of translation adjustments are not adjusted for income taxes as substantially all translation adjustments relate to permanent investments in non-U.S. subsidiaries. Net foreign currency transaction losses are included in income before income taxes on the consolidated statements of income.
Use of Estimates
Use of Estimates – The preparation of our consolidated financial statements in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) requires us to make estimates and assumptions that affect the amounts reported in these consolidated financial statements and accompanying notes, disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are used in determining, among other items, sales promotions and incentives accruals, inventory valuation, warranty reserves, allowance for doubtful accounts, pension and postretirement accruals, useful lives for intangible assets, valuing investments, and future cash flows associated with impairment testing for goodwill and other long-lived assets. Actual results could differ from our estimates.
Cash and Cash Equivalents
Cash and Cash Equivalents – We consider all highly liquid investments with original maturities of three months or less from the date of purchase to be cash equivalents.
Restricted Cash
Restricted Cash – We have a total of $0.2 million as of December 31, 2025 and 2024 that serves as collateral backing certain bank guarantees and is therefore restricted. This money is invested in time deposits. Restricted cash is recorded in cash, cash equivalents and restricted cash on the consolidated balance sheets.
Receivables
Receivables – Credit is granted to our customers in the normal course of business. Receivables are recorded at original carrying value less reserves for estimated uncollectible accounts and sales returns. To assess the collectability of these receivables, we perform ongoing credit evaluations of our customers’ financial condition. Through these evaluations, we may become aware of a situation where a customer may not be able to meet its financial obligations due to deterioration of its financial viability, credit ratings or bankruptcy. The reserve requirements are based on the best facts available to us and are reevaluated and adjusted as additional information becomes available.
Our reserves are also based on amounts determined by using percentages applied to trade receivables, using a loss rate method. We considered the following in determining the expected loss rate: (1) historical loss rate, (2) macroeconomic factors, and (3) creditworthiness of customers. The historical loss rate is calculated by taking the yearly write-off expense, net of collections, as a percentage of the annual average balance of trade receivables for each of the past three years. An account is considered past-due or delinquent when it has not been paid within the contractual terms. Uncollectible accounts are written off against the reserves when it is deemed that a customer account is uncollectible.
Inventories
Inventories – Inventories are valued at the lower of cost or net realizable value. Cost is determined on a first-in, first-out (“FIFO”) basis except for inventories in North America, which are determined on a last-in, first-out (“LIFO”) basis.
Property, Plant and Equipment
Property, Plant and Equipment – Property, plant and equipment is carried at cost. Additions and improvements that extend the lives of the assets are capitalized, while expenditures for repairs and maintenance are expensed as incurred. We generally depreciate buildings and improvements by the straight-line method over a life of 30 years. Other property, plant and equipment are generally depreciated using the straight-line method based on lives of 3 years to 15 years.
Leases
Leases – We assess whether an arrangement is a lease at inception.
Operating leases with an initial term of 12 months or less are expensed as incurred as short-term lease cost. We have elected the practical expedient to not separate lease and non-lease components for all asset classes. Operating lease assets and operating lease liabilities are calculated based on the present value of the future lease payments over the lease term at the lease commencement date. When future lease payments are based on an index or rate, operating lease assets and operating lease liabilities are calculated using the prevailing index or rate at the lease commencement date. As the implicit rate is not readily determinable, we use our incremental borrowing rate based on the information available at the lease start date in determining the present value of future payments. Information used in determining the incremental borrowing rates for the Company's leases includes: (1) the market yield on the Company's traded bond, adjusted for the presence of collateral and the difference in terms of the bond and the leases, (2) consideration of the currency in which each lease was denominated, and (3) the lease term. The operating lease asset is increased by any lease payments made at or before the lease start date, increased by initial direct costs incurred, and reduced by lease incentives. The lease term includes options to renew or terminate the lease when it is reasonably certain that we will exercise that option. The exercise of lease renewal options is at our sole discretion. The useful life of lease assets and leasehold improvements are limited by the lease term, unless there is a transfer of title or
purchase option reasonably certain of exercise. Certain leases also include options to purchase the leased asset. Lease expense for operating leases is recognized on a straight-line basis over the lease term. Certain leases contain variable lease payments for items such as index-based changes in rent, fuel and common area maintenance, which we expense as incurred as variable lease cost.
Finance leases are not material to our consolidated financial statements.
Goodwill
Goodwill – Goodwill represents the excess of cost over the fair value of net assets of businesses acquired and is allocated to our reporting units at the time of the acquisition. We analyze goodwill on an annual basis as of October 1 and when an event occurs, or circumstances change that may reduce the fair value of one of our reporting units below its carrying amount. We have the option of first analyzing qualitative factors to determine whether it is more likely than not that the fair value of any reporting unit is less than its carrying amount. However, we may elect to perform a quantitative goodwill impairment test even if no indications of a potential impairment exist.
For the 2025 annual goodwill impairment test for the North America and Latin America reporting units, we elected to perform a qualitative assessment to determine whether it was more likely than not that the fair value of each reporting unit was less than its carrying amount. In performing this assessment, we considered relevant events and circumstances, including industry, market and macroeconomic conditions, as well as company-specific and reporting unit-specific factors. Based on this evaluation, we concluded that it was not more likely than not that the fair value of either reporting unit was less than its carrying amount. Accordingly, a quantitative goodwill impairment test was not required, and no impairment of goodwill was recognized for these reporting units during 2025.
During 2024, a qualitative goodwill assessment was performed for the North America and Latin America reporting units while a quantitative assessment was performed for the EMEA and APAC reporting units. Our assessments indicated that there was no goodwill impairment in any of our reporting units as of our annual assessment date.
Intangible Assets
Intangible Assets – Intangible assets consist of long-lived customer lists, trade names and technology. Generally, intangible assets classified as trade names are amortized on a straight-line basis and intangible assets classified as customer lists or technology are amortized using an accelerated method of amortization.
Impairment of Long-Lived Assets and Assets Held for Sale
Impairment of Long-Lived Assets and Assets Held for Sale – We periodically review our intangible and long-lived assets for impairment and assess whether events or circumstances indicate that the carrying amount of the assets may not be recoverable. We generally deem an asset group to be impaired if an estimate of undiscounted future operating cash flows are less than its carrying amount. If impaired, an impairment loss is recognized based on the excess of the carrying amount of the individual asset group over its fair value.
Assets held for sale are measured at the lower of their carrying value or fair value less costs to sell. Upon retirement or disposition, the asset cost and related accumulated depreciation or amortization are removed from the accounts and a gain or loss is recognized based on the difference between the fair value of proceeds received and carrying value of the assets held for sale.
Purchase of Common Stock
Purchase of Common Stock – We repurchase our common stock under both the 2025 and 2016 repurchase program authorized by our Board of Directors. These programs allow us to repurchase up to an aggregate of 3,000,000 shares of our common stock, and 1,514,063 shares remain authorized under the 2025 program. Upon repurchase, the par value is charged to common stock and the remaining purchase price is charged to additional paid-in capital. If the amount of the remaining purchase price causes the additional paid-in capital account to be in a negative position, this amount is then reclassified to retained earnings. Common stock repurchased is included in shares authorized but is not included in shares outstanding.
Warranty
Warranty – We record a liability for estimated warranty claims at the time of sale. The amount of the liability is based on the trend in the historical ratio of claims to sales, the historical length of time between the sale and resulting warranty claim, new product introductions and other factors. In the event we determine that our current or future product repair and replacement costs exceed our estimates, an adjustment to these reserves would be charged to earnings in the period such determination is made. Warranty terms on machines range from one to four years. Warranty costs are recorded as a component of selling and administrative expense in the consolidated statements of income.
Pension and Profit Sharing Plans
Pension and Profit Sharing Plans – Substantially all U.S. employees are covered by various retirement benefit plans, including postretirement medical plans and defined contribution savings plans. Retirement benefits for eligible employees in foreign locations are funded principally through defined benefit plans, annuity or government programs.
Postretirement Benefits
Postretirement Benefits – We accrue and recognize the cost of retiree health benefits over the employees’ period of service based on actuarial estimates. Benefits are only available for U.S. employees hired before January 1, 1999.
Derivative Financial Instruments
Derivative Financial Instruments – We use cross-currency swaps, interest rate swaps and foreign exchange forward and option contracts to manage risks generally associated with foreign exchange rate and interest rate volatility. We account for our hedging instruments as either assets or liabilities on the consolidated balance sheets and measure them at fair value. Gains and losses resulting from changes in fair value are accounted for depending on the use of the derivative and whether it is designated and qualifies for hedge accounting. Gains and losses for all instruments that do not qualify for hedge accounting are recorded each period to net foreign currency transaction loss in our consolidated statements of income. Changes in the fair value of designated hedges are reported in accumulated other comprehensive loss on the consolidated balance sheet until a related transaction occurs. If the underlying hedged transaction ceases to exist, all changes in fair value of the related derivatives that have not been settled are recorded in our consolidated statements of income.
Revenue Recognition
Revenue Recognition – Revenue is recognized when control transfers under the terms of the contract with our customers. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or providing services. Sales and other taxes we collect concurrently with revenue-producing activities are excluded from revenue. We do not account for shipping and handling as a distinct performance obligation as we generally perform shipping and handling activities after we transfer control of goods to the customer. We have elected to account for shipping and handling costs associated with outbound freight after control of goods has transferred to a customer as a fulfillment cost. Incidental items that are immaterial in the context of the contract are not recognized as a separate performance obligation. We do not have any significantly extended payment terms as payment is generally received within one year of the point of sale.
In general, we transfer control and recognize a sale at the point in time when products are shipped from our manufacturing facilities both direct to consumers and to distributors. Service revenue is recognized in the period the service is performed or ratably over the period of the related service contract. Consideration related to service contracts is deferred if the proceeds are received in advance of the satisfaction of the performance obligations and recognized over the contract period as the performance obligation is met. We use an output method to measure progress toward completion for certain prepaid service contracts, as this method appropriately depicts performance toward satisfaction of the performance obligations.
For contracts with multiple performance obligations (i.e., a product and service component), we allocate the transaction price to the performance obligations in proportion to their stand-alone selling prices. We use an observable price to determine the stand-alone selling price for separate performance obligations. When allocating on a relative stand-alone selling price basis, any discounts contained within the contract are allocated proportionately to all of the performance obligations in the contract.
We generally expense the incremental costs of obtaining a contract when incurred because the amortization period would be less than one year. These costs relate primarily to sales commissions and are recorded in selling and administrative expense in the consolidated statements of income.
We do not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. In addition, we do not adjust the promised amount of consideration for the effects of a significant financing component if we expect, at contract inception, that the period between when we transfer a promised good or service to a customer and when the customer pays for that good or service will be one year or less.
Share-Based Compensation
Share-Based Compensation – We account for share-based compensation awards on a fair value basis. The estimated grant date fair value of each option award is recognized in income on a straight-line basis over the requisite service period (generally the vesting period). The estimated fair value of each option award is
calculated using the Black-Scholes option-pricing model. From time to time, we have elected to modify the terms of the original grant. These modified grants are accounted for as a new award and measured using the fair value method, resulting in the inclusion of additional compensation expense in our consolidated statements of income.
Restricted share awards and units are recorded as compensation cost over the requisite service periods based on the market value on the date of grant. To determine the amount of compensation cost to be recognized in each period for these awards and for option awards, we account for forfeitures as they occur.
Performance share awards ("PSUs") are stock awards where the ultimate number of shares issued will be contingent on the Company’s performance against certain performance goals. The Compensation Committee can adjust performance goals or modify the manner of measuring or evaluating a performance goal using its discretion. The fair value of each PSU is based on the market value on the date of grant. We recognize expense related to the estimated vesting of our PSUs granted. The estimated vesting of the PSUs is based on the probability of achieving certain performance metrics over the specified performance period. To determine the amount of compensation cost to be recognized in each period, we estimate forfeitures.
Research and Development
Research and Development – Research and development costs are expensed as incurred.
Advertising Costs Advertising Costs We advertise products, technologies and solutions to customers and prospective customers through a variety of marketing campaign and promotional efforts. These efforts include tradeshows, online advertising, e-mail marketing, mailings, sponsorships and telemarketing. Advertising costs are expensed as incurred.
Income Taxes
Income Taxes – Deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the book and tax bases of existing assets and liabilities. A valuation allowance is provided when, in management’s judgment, it is more likely than not that some portion or all of the deferred tax asset will not be realized. We have established uncertain tax position accruals using management’s best judgment. We adjust these accruals as facts and circumstances change. Interest expense is recognized in the first period the interest would begin accruing. Penalties are recognized in the period we claim or expect to claim the position in our tax return. Interest and penalty expenses are classified as an income tax expense.
Earnings Per Share
Earnings Per Share – Basic earnings per share is computed by dividing net earnings attributable to Tennant Company by the weighted average shares outstanding during the period. Diluted earnings per share assumes conversion of potentially dilutive stock options, performance shares, restricted shares and restricted stock units. These are not included in our computation of diluted earnings per share if we have a net loss attributable to the Company in a reporting period or if the instrument's effects are anti-dilutive.
Investments, Available-for-Sale Investments, Available-for-Sale – As described in Note 12, debt securities classified as available-for-sale securities are carried at fair market value, with the unrealized gains and losses, net of tax, included in the determination of comprehensive income (loss) and reported in shareholders' equity. These investments are subject to periodic impairment review.
Investments, Measurement Alternative
Investments, Measurement Alternative – Our investments, as described in Note 12 which are valued under the measurement alternative include equity securities for which the Company does not have significant influence and fair value is not readily determinable. Accounting Standard Update ("ASU") 2016-01 requires equity securities to be recorded at cost and adjusted to fair value at each reporting period. However, the guidance allows for a measurement alternative, which is to record investments at cost, less impairment, if any, and subsequently adjust for observable price changes of identical or similar investments of the same issuer.
Due to the lack of readily determinable fair values for such investments, for which the Company does not have significant influence, the Company accounts for these investments under the measurement alternative at cost, less impairment.
The Company performs qualitative impairment assessments on its investments recorded under the measurement alternative.
Investments, Equity Method
Investments, Equity Method – As described in Note 13, the Company uses the equity method of accounting for equity investments if the investment provides the ability to exercise significant influence, but not control, over operating and financial policies of the investee. Judgment regarding the level of influence over each equity method investment includes considering key factors such as the Company’s ownership interest, legal form of the investee (e.g. limited liability partnership), representation on the board of directors, participation in policy-making decisions and material intra-entity transactions.
Under the equity method of accounting, investments are stated at initial cost and are adjusted for subsequent additional investments and the proportionate share of earnings or losses and dividends, including consideration of basis differences resulting from the difference between the initial carrying amount of the investment and the underlying equity in net assets, as applicable.
The Company evaluates equity method investments for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment might not be recoverable. Factors considered by the Company when reviewing an equity method investment for impairment include the length of time (duration) and the extent (severity) to which the fair value of the equity method investment has been less than cost, the investee’s financial condition and near-term prospects, and the intent and ability to hold the investment for a period of time sufficient to allow for anticipated recovery. An impairment that is other-than-temporary is recognized in the period identified.
Newly Adopted Accounting Pronouncements
Newly Adopted Accounting Policies
Improvements to Income Tax Disclosures
In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which is intended to enhance the transparency and decision usefulness of income tax disclosures. The amendments in ASU 2023-09 address investor requests for enhanced income tax information primarily through changes to the rate reconciliation and income taxes paid information. The amendments in this ASU are required to be adopted for fiscal years beginning after December 15, 2024. We have adopted the new standard on a prospective basis effective December 31, 2025. While the adoption has no impact on our consolidated financial statements, it has resulted in incremental disclosures within the footnotes of our consolidated financial statements. Refer to Note 18, Income Taxes for the inclusion of the new required disclosures.
v3.25.4
Revenue (Tables)
12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following tables illustrate the disaggregation of revenue by geographic area, groups of similar products and services and sales channels for the years ended December 31:
Net sales by geographic area
202520242023
Americas$792.0 $888.5 $840.3 
Europe, Middle East and Africa (EMEA)334.6 318.5 314.4 
Asia Pacific (APAC)76.9 79.7 88.9 
Total$1,203.5 $1,286.7 $1,243.6 
Net sales are attributed to each geographic area based on the end user country and are net of intercompany sales.
Net sales by groups of similar products and services
202520242023
Equipment$714.7 $808.7 $776.4 
Parts and consumables275.6 274.3 279.5 
Service and other213.2 203.7 187.7 
Total$1,203.5 $1,286.7 $1,243.6 
Net sales by sales channel
202520242023
Sales direct to consumer$831.5 $905.7 $854.4 
Sales to distributors372.0 381.0 389.2 
Total$1,203.5 $1,286.7 $1,243.6 
Schedule of Change in Sales Incentive Accrual Balance and Deferred Revenue Balance
The change in our sales incentive accrual balance for the years ended December 31, 2025 and 2024 was as follows:
20252024
Beginning balance$16.1 $21.2 
Additions to sales incentive accrual20.3 22.4 
Contract payments(22.4)(27.2)
Foreign currency fluctuations0.8 (0.3)
Ending balance$14.8 $16.1 
The change in the deferred revenue balance for the years ended December 31, 2025 and 2024 was as follows:
20252024
Beginning balance$20.6 $10.3 
Increase in deferred revenue representing our obligation to satisfy future performance obligations31.9 31.7 
Decrease in deferred revenue for amounts recognized in net sales for satisfied performance obligations(20.8)(20.8)
Foreign currency fluctuations0.7 (0.6)
Ending balance$32.4 $20.6 
Schedule of Recognition of Net Sales in Future Periods Of this, we expect to recognize the following approximate amounts in net sales in the following periods:
2026$16.7 
20277.0 
20284.6 
20293.1 
20301.0 
Thereafter— 
Total$32.4 
v3.25.4
Management Actions (Tables)
12 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
Schedule of Pre-Tax restructuring charges The following pre-tax restructuring charges were included in the consolidated statements of income:
20252024
Severance-related costs - Selling and administrative expense$6.4 $8.2 
Total pre-tax restructuring costs$6.4 $8.2 
Schedule of Reconciliation of Liability Balance of Severance and Related Costs
A reconciliation to the ending liability balance of severance and related costs as of December 31, 2025 and 2024 is as follows:
20252024
Beginning balance$8.6 $2.4 
New charges8.8 8.8 
Cash payments(8.7)(2.3)
Foreign currency adjustments1.1 0.3 
Adjustment to accrual(2.4)(0.6)
Ending balance$7.4 $8.6 
v3.25.4
Acquisitions (Tables)
12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions The proforma impact of this acquisition is immaterial to our operations.
Components of purchase price:
Cash paid$31.0 
Settlement of preexisting transactions3.9 
Total purchase price34.9 
ASSETS
Cash5.4 
Other current assets8.9 
Intangible assets subject to amortization
Customer lists13.2 
Backlog0.6 
Other assets5.7 
Total identifiable assets acquired33.8 
LIABILITIES
Current liabilities(1.6)
Long-term liabilities(6.7)
Total identifiable liabilities assumed(8.3)
Net assets acquired25.5 
Goodwill$9.4 
v3.25.4
Inventories (Tables)
12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
Schedule of Inventories
Inventories as of December 31 consisted of the following:
20252024
Inventories carried at LIFO:
Finished goods(a)
$85.0 $85.4 
Raw materials and work-in-process35.5 38.4 
Excess of FIFO over LIFO cost(b)
(54.9)(50.4)
Total LIFO inventories$65.6 $73.4 
Inventories carried at FIFO:
Finished goods(a)
$64.3 $53.2 
Raw materials and work-in-process68.6 57.2 
Total FIFO inventories$132.9 $110.4 
Total inventories$198.5 $183.8 
(a)Finished goods include machines, parts and consumables and component parts that are used in our products.
(b)The difference between replacement cost and the stated LIFO inventory value is not materially different from the reserve for the LIFO valuation method.
v3.25.4
Property, Plant and Equipment (Tables)
12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Schedule of Property, Plant and Equipment
Property, plant and equipment and related accumulated depreciation, including equipment under finance leases, as of December 31, consisted of the following:
20252024
Property, plant and equipment:
Land$27.9 $24.1 
Buildings and improvements144.0 134.1 
Machinery and manufacturing equipment243.5 210.4 
Office equipment59.1 122.2 
Construction in progress4.3 4.5 
Total property, plant and equipment478.8 495.3 
Less: accumulated depreciation(289.0)(310.9)
Property, plant and equipment, net$189.8 $184.4 
v3.25.4
Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in the Carrying Amount of Goodwill
The changes in the carrying amount of goodwill were as follows:
Goodwill
Accumulated
Impairment
Losses
Total
Balance as of December 31, 2025$243.9 $(35.3)$208.6 
Additions1.4 — 1.4 
Foreign currency fluctuations24.4 (2.8)21.6 
Balance as of December 31, 2024$218.1 $(32.5)$185.6 
Additions9.4 — 9.4 
Foreign currency fluctuations(12.0)0.8 (11.2)
Balance as of December 31, 2023$220.7 $(33.3)$187.4 
Schedule of Balances of Acquired Intangible Assets, Excluding Goodwill
The balances of acquired intangible assets, excluding goodwill, were as follows:
Customer
Lists
Trade
Names
TechnologyTotal
Balance as of December 31, 2025
Original cost$174.9 $31.1 $16.7 $222.7 
Accumulated amortization(128.1)(26.6)(15.4)(170.1)
Carrying amount$46.8 $4.5 $1.3 $52.6 
Weighted-average original life (in years)141012
Balance as of December 31, 2024
Original cost$154.6 $27.6 $15.2 $197.4 
Accumulated amortization(104.9)(20.8)(13.0)(138.7)
Carrying amount$49.7 $6.8 $2.2 $58.7 
Weighted-average original life (in years)151111
Schedule of Estimated Aggregate Amortization Expense
Estimated aggregate amortization expense based on the current carrying amount of amortizable intangible assets for each of the five succeeding years is as follows:
2026$12.9 
20279.3 
20287.5 
20296.7 
20306.2 
Thereafter10.0 
Total$52.6 
v3.25.4
Debt (Tables)
12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Debt Outstanding
Debt outstanding as of December 31 consisted of the following:
20252024
Credit facility borrowings:
Revolving credit facility borrowings$272.5 $197.5 
Finance lease liabilities1.1 1.2 
Bank overdrafts— 0.8 
Total debt273.6 199.5 
Less: current portion of long-term debt(a)
(0.4)(1.3)
Long-term debt$273.2 $198.2 
(a)
As of December 31, 2025, the Company is required to repay $0.4 million of finance lease liabilities over the next 12 months.
Schedule of Aggregate Maturities of Outstanding Debt
The aggregate maturities of our outstanding debt, excluding unamortized debt issuance costs, as of December 31, 2025, are as follows:
2026$0.4 
20270.4 
20280.2 
2029272.6 
2030— 
Thereafter— 
Total aggregate maturities$273.6 
v3.25.4
Other Current Liabilities (Tables)
12 Months Ended
Dec. 31, 2025
Payables and Accruals [Abstract]  
Schedule of Other Current Liabilities
Other current liabilities as of December 31 consisted of the following:
20252024
Other current liabilities:
Taxes$18.5 $20.5 
Warranty reserve6.5 6.9 
Deferred revenue16.6 9.8 
Customer sales incentives14.8 16.1 
Freight3.6 4.0 
Restructuring7.4 8.5 
Operating leases21.7 18.5 
Miscellaneous accrued expenses35.2 26.6 
Total other current liabilities$124.3 $110.9 
v3.25.4
Derivatives (Tables)
12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value of Derivative Instruments
The fair value of derivative instruments on our consolidated balance sheets as of December 31 consisted of the following:
Derivative AssetsDerivative Liabilities
Balance Sheet LocationDecember 31, 2025December 31, 2024Balance Sheet LocationDecember 31, 2025December 31, 2024
Derivatives designated as cash flow hedges:
Interest rate swapsOther current assets— 0.1 Other current liabilities— — 
Interest rate swapsOther assets— — Other liabilities0.4 0.2 
Derivatives designated as fair value hedges:
Cross-currency swapsOther current assets1.2 1.5 Other current liabilities— — 
Cross-currency swapsOther assets— 0.5 Other liabilities8.9 — 
Derivatives designated as net investment hedges:
Cross-currency swapsOther current assets1.2 1.2 Other current liabilities— — 
Cross-currency swapsOther assets— 0.2 Other liabilities8.9 — 
Derivatives not designated as hedging instruments:
Foreign currency forward contracts(a)
Other current assets0.3 0.8 Other current liabilities0.1 — 
(a)Contracts that mature within the next 12 months are included in other current assets and other current liabilities for asset derivatives and liabilities derivatives, respectively, on our consolidated balance sheets. Contracts with maturities greater than 12 months are included in other assets and other liabilities for asset derivatives and liability derivatives, respectively, in our consolidated balance sheets. Amounts included in our consolidated balance sheets are recorded net where a right of offset exists with the same derivative counterparty.
Schedule of Effects of Derivatives Designated as Hedging Instruments
The following tables include the amounts in the consolidated statements of income in which the effects of derivative instruments are recorded and the effects of derivative instruments activity on these line items for the years ended December 31, 2025 and December 31, 2024:
20252024
TotalGain (Loss) on
Hedge Activity
Total Gain (Loss) on
Hedge Activity
Derivatives designated as cash flow hedges:
Interest expense, net(9.0)0.3 (9.1)1.0 
Net foreign currency transaction (loss) gain(1.7)(0.1)0.1 — 
Derivatives designated as fair value hedges:
Interest expense, net(9.0)1.0 (9.1)1.1 
Net foreign currency transaction (loss) gain(1.7)(8.0)0.1 3.9 
Derivatives designated as net investment hedges:
Interest expense, net(9.0)1.0 (9.1)1.0 
The effect of derivative instruments designated as hedges and derivative instruments not designated as hedges in our consolidated statements of income for the three years ended December 31 were as follows:
202520242023
Derivatives designated as cash flow hedges:
Amount of gain recognized in other comprehensive income (loss)(a)
$— $1.8 $0.6 
Amount of net gain reclassified from AOCL into earnings0.2 1.0 2.0 
Derivatives designated as fair value hedges:
Amount of gain recognized in other comprehensive income (loss)(a)
1.6 0.2 — 
Amount of net gain reclassified from AOCL into earnings1.0 1.1 — 
Derivatives designated as net investment hedges:
Amount of gain recognized in other comprehensive income (loss)(a)
(6.1)3.8 2.0 
Amount of net gain reclassified from AOCL into earnings1.0 1.0 1.0 
Derivatives not designated as hedging instruments:
Amount of net (loss) gain recognized in earnings(b)
$(9.6)$6.1 $1.7 
(a)Net change in the fair value of the effective portion classified in other comprehensive income (loss).
(b)Classified in net foreign currency transaction (loss) gain.
v3.25.4
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Marketable Securities
As of December 31, 2025, and December 31, 2024, a comparison of cost and market values of our debt and equity securities was as follows:
CostFair ValueGross Unrealized GainsGross Unrealized Losses
Balance as of December 31, 2025
Available-for-sale debt securities$12.1 $11.8 $— $(0.3)
Total debt securities$12.1 $11.8 $— $(0.3)
Balance as of December 31, 2024
Available-for-sale debt securities$12.1 $12.3 $0.2 $— 
Equity securities20.0 20.0 — — 
Total debt and equity securities$32.1 $32.3 $0.2 $— 
Schedule of Maturities of Debt Securities
Scheduled maturities of our debt securities were as follows:
Cost Fair Value
After 5 years through 10 years$12.1 $11.8 
Total debt securities$12.1 $11.8 
Schedule of Assets and Liabilities Subject to Fair Value Measurements
Our population of assets and liabilities subject to fair value measurements as of December 31, 2025 were as follows:
Fair ValueLevel 1Level 2Level 3
Assets:
Debt securities11.8 — — 11.8 
Foreign currency forward contracts0.3 — 0.3 — 
Cross-currency swaps2.4 — 2.4 — 
Interest rate swaps— — — — 
Total assets14.5 — 2.7 11.8 
Liabilities:
Foreign currency forward contracts0.1 — 0.1 — 
Cross-currency swaps17.8 — 17.8 — 
Interest rate swaps0.4 — 0.4 — 
Total liabilities$18.3 $— $18.3 $— 
Our population of assets and liabilities subject to fair value measurements as of December 31, 2024 were as follows:
Fair ValueLevel 1Level 2Level 3
Assets:
Equity securities20.0 — — 20.0 
Debt securities12.3 — — 12.3 
Foreign currency forward contracts0.8 — 0.8 — 
Cross-currency swaps3.4 — 3.4 — 
Interest rate swaps0.1 — 0.1 — 
Total assets36.6 — 4.3 32.3 
Liabilities:
Foreign currency forward contracts— — — — 
Cross-currency swaps— — — — 
Interest rate swaps0.2 — 0.2 — 
Total liabilities$0.2 — $0.2 $— 
v3.25.4
Retirement Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Schedule of Changes In Benefit Obligations and Plan Assets
Summarized financial information about our defined benefit pension plans and retiree health care plan is presented below:
U.S. Nonqualified PlanNon-U.S.
Pension Benefits
Postretirement
Medical Benefits
202520242025202420252024
Change in benefit obligation:
Benefit obligation at beginning of year$0.8 $0.9 $10.3 $10.4 $4.3 $4.6 
Service cost— — 0.1 0.1 — — 
Interest cost— — 0.5 0.4 0.2 0.2 
Actuarial loss (gain)0.1 — 0.3 (0.2)1.1 0.1 
Foreign exchange— — 1.0 (0.4)— — 
Net transfer in— — — 0.7 — — 
Benefits paid(0.1)(0.1)(0.9)(0.7)(0.8)(0.6)
Benefit obligation at end of year$0.8 $0.8 $11.3 $10.3 $4.8 $4.3 
Change in fair value of plan assets and net accrued liabilities:
Fair value of plan assets at beginning of year$— $— $12.6 $12.7 $— $— 
Actual return on plan assets— — 0.3 (0.2)— — 
Employer contributions0.1 0.1 0.5 0.3 0.8 0.6 
Foreign exchange— — 0.9 (0.2)— — 
Net transfer in— — — 0.7 — — 
Benefits paid(0.1)(0.1)(0.9)(0.7)(0.8)(0.6)
Fair value of plan assets at end of year— — 13.4 12.6 — — 
Funded status at end of year$(0.8)$(0.8)$2.1 $2.3 $(4.8)$(4.3)
Amounts recognized in the consolidated balance sheets consist of:
Noncurrent other assets$— $— $6.2 $6.4 $— $— 
Current liabilities(0.1)(0.1)(0.3)(0.3)(0.6)(0.5)
Long-term liabilities(0.7)(0.7)(3.8)(3.8)(4.2)(3.8)
Net accrued liability$(0.8)$(0.8)$2.1 $2.3 $(4.8)$(4.3)
Amounts recognized in accumulated other comprehensive loss consist of:
Prior service cost$— $— $(0.1)$(0.1)$— $— 
Net actuarial (loss) gain(0.7)(0.7)1.9 2.7 — 1.4 
Accumulated other comprehensive (loss) income$(0.7)$(0.7)$1.8 $2.6 $— $1.4 
Schedule of Changes In Accumulated Other Comprehensive Loss
Amounts recognized in other comprehensive income in 2025 and 2024 were as follows:
U.S. Nonqualified PlanNon-U.S.
Pension Benefits
Postretirement
Medical Benefits
202520242023202520242023202520242023
Net actuarial loss0.1 0.1 0.1 0.8 0.8 (0.9)1.1 0.1 (0.7)
Foreign exchange— — — (0.2)0.1 — — — — 
Amortization of net actuarial (loss) gain(0.1)(0.1)(0.1)0.1 0.1 0.1 0.3 0.3 0.2 
Amounts recorded in other comprehensive income$— $— $— $0.7 $1.0 $(0.8)$1.4 $0.4 $(0.5)
Schedule of Net Benefit Costs
The components of the net periodic benefit expense (income) for the three years ended December 31 were as follows:
U.S. Nonqualified PlanNon-U.S.
Pension Benefits
Postretirement
Medical Benefits
202520242023202520242023202520242023
Service cost$— $— $— $0.1 $0.1 $0.1 $— $— $— 
Interest cost— — — 0.5 0.4 0.5 0.2 0.2 0.3 
Expected return on plan assets— — — (0.8)(0.8)(0.7)— — — 
Amortization of net actuarial loss (gain)0.1 0.1 0.1 (0.1)(0.1)(0.1)(0.2)(0.3)(0.2)
Net periodic benefit expense (income)$0.1 $0.1 $0.1 $(0.3)$(0.4)$(0.2)$— $(0.1)$0.1 
Schedule of Assumed Health Care Cost Trend Rates
Assumed health care cost trend rates as of December 31 were as follows:
20252024
Health care cost trend rate assumed next year7.65 %8.40 %
Ultimate trend rate4.00 %4.00 %
Year that trend reaches ultimate rate20502047
Schedule of Weighted-Average Assumptions
Weighted-average assumptions used to determine benefit obligations as of December 31 were as follows:
U.S. Nonqualified PlanNon-U.S.
Pension Benefits
Postretirement
Medical Benefits
202520242025202420252024
Discount rate5.00 %5.42 %4.92 %4.65 %4.90 %5.39 %
Rate of compensation increase— %— %3.18 %3.00 %— %— %
Weighted-average assumptions used to determine net periodic benefit costs as of December 31 were as follows:
U.S. Nonqualified PlanNon-U.S.
Pension Benefits
Postretirement
Medical Benefits
202520242023202520242023202520242023
Discount rate5.42 %5.07 %5.37 %4.65 %4.26 %4.68 %5.39 %5.06 %5.37 %
Expected long-term rate of return on plan assets— %— %— %6.10 %6.10 %6.10 %— %— %— %
Rate of compensation increase— %— %— %3.00 %3.00 %2.25 %— %— %— %
Schedule of Changes in Fair Value of Plan Assets
The fair value of our U.K. Pension Plan and the respective level in the fair value hierarchy as of December 31, 2025 were as follows:
Quoted Prices in Active Markets for
Identical Assets
Significant Observable InputsSignificant Unobservable Inputs
Asset categoryFair Value(Level 1)(Level 2)(Level 3)
Investment account held by pension plan(a)
$7.2 $7.2 $— $— 
Buy-in insurance contract(b)
6.2 — — 6.2 
Total$13.4 $7.2 $— $6.2 

(a)This category is comprised of investments in fixed income securities.
(b)This represents the U.K. Pension Plan partial buy-in assets comprised of investments in insurance contracts.
The fair value of our U.K. Pension Plan and the respective level in the fair value hierarchy as of December 31, 2024 were as follows:
Quoted Prices in Active Markets for
Identical Assets
Significant Observable InputsSignificant Unobservable Inputs
Asset categoryFair Value(Level 1)(Level 2)(Level 3)
Investment account held by pension plan(a)
$6.7 $— $— $6.7 
Buy-in insurance contract(b)
5.9 — — 5.9 
Total$12.6 $— $— $12.6 
Schedule of Reconciliation of Level 3 Investments
A reconciliation of the beginning and ending balances of the Level 3 investments of our U.K. Pension Plan during the years ended December 31 was as follows:
20252024
Fair value at beginning of year$12.6 $12.7 
Purchases, sales, issuances and settlements, net(0.5)(0.4)
Net (loss) gain0.3 (0.2)
Net transfer into (out of) Level 3(7.2)0.7 
Foreign currency1.0 (0.2)
Fair value at end of year$6.2 $12.6 
Schedule Of Benefit Payments For Expected Future Service
Estimated benefit payments, which reflect expected future service, as appropriate, are expected to be paid from 2026 to 2035 as follows:
U.S.
Nonqualified Plan
Non-U.S.
Pension Benefits
Postretirement
Medical Benefits
2026$0.1 $0.8 $0.6 
20270.1 0.6 0.6 
20280.1 0.8 0.6 
20290.1 0.7 0.6 
20300.1 0.9 0.5 
2031 to 20350.3 4.1 2.0 
Total$0.8 $7.9 $4.9 
v3.25.4
Shareholders' Equity (Tables)
12 Months Ended
Dec. 31, 2025
Stockholders' Equity Note [Abstract]  
Schedule of Accumulated Other Comprehensive Loss, Net of Tax
The changes in components of accumulated other comprehensive loss, net of tax, were as follows:
Foreign Currency Translation
Adjustments
Pension and Postretirement
Medical Benefits
Derivative Financial InstrumentsUnrealized Gain (Loss) on Debt SecuritiesTotal
December 31, 2023$(45.6)$3.7 $(0.4)$— $(42.3)
Other comprehensive (loss) income before reclassifications(28.6)(0.9)2.0 0.2 (27.3)
Amounts reclassified from AOCL(1.0)— (2.1)— (3.1)
Net current period other comprehensive (loss) income(29.6)(0.9)(0.1)0.2 (30.4)
December 31, 2024$(75.2)$2.8 $(0.5)$0.2 $(72.7)
Other comprehensive income (loss) before reclassifications42.3 (1.7)1.6 (0.5)41.7 
Amounts reclassified from AOCL(1.0)— (1.2)— (2.2)
Net current period other comprehensive income (loss) 41.3 (1.7)0.4 (0.5)39.5 
December 31, 2025$(33.9)$1.1 $(0.1)$(0.3)$(33.2)
v3.25.4
Leases (Tables)
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Lease Assets and Liabilities
The lease assets and liabilities as of December 31 were as follows:
LeasesClassification20252024
Assets
Operating lease assetsOperating lease assets$56.9 $54.6 
Finance lease assets
Property, plant and equipment(a)
1.1 1.1 
Total leased assets$58.0 $55.7 
Liabilities
Current:
OperatingOther current liabilities$21.7 $18.5 
FinanceCurrent portion of long-term debt0.4 0.5 
Noncurrent:
OperatingLong-term operating lease liabilities35.5 36.3 
FinanceLong-term debt0.7 0.7 
Total lease liabilities$58.3 $56.0 
(a)
Finance lease assets are recorded net of accumulated amortization of $0.8 million and $0.3 million, and as of December 31, 2025 and December 31, 2024, respectively.
The lease term and discount rate as of December 31 were as follows:
Lease Term and Discount Rate20252024
Weighted-average remaining lease term (years):
Operating leases3.23.5
Finance leases3.24.0
Weighted-average discount rate:
Operating leases6.1%6.1%
Finance leases5.6%5.2%
Other information related to cash paid related to lease liabilities and lease assets obtained for the years ended December 31 was as follows:
Other Information20252024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$24.5 $21.3 
Operating cash flows from finance leases0.1 — 
Financing cash flows from finance leases0.4 0.2 
Lease assets obtained in exchange for new finance lease liabilities0.8 1.0 
Lease assets obtained in exchange for new operating lease liabilities18.8 34.2 
Schedule of Lease Cost
The lease cost for the three years ended December 31 was as follows:
Lease Cost202520242023
Operating lease cost(a)
$31.7 $30.1 $28.9 
Finance lease cost(b)
0.5 0.2 0.1 
Total lease cost$32.2 $30.3 $29.0 
(a)
Includes short-term lease costs of $4.3 million, $6.2 million, and $5.9 million and variable lease costs of $3.0 million, $2.4 million and $4.2 million for the years ended December 31, 2025 and December 31, 2024, respectively.
(b)
Includes amortization of leased assets and interest on lease liabilities.
Schedule of Maturities of Operating Lease Liability
The maturity of lease liabilities as of December 31, 2025 was as follows:
Maturity of Lease LiabilitiesOperating LeasesFinance LeasesTotal
2026$24.3 $0.4 $24.7 
202719.1 0.4 19.5 
202811.2 0.3 11.5 
20294.4 0.1 4.5 
20301.6 — 1.6 
Thereafter2.1 — 2.1 
Total lease payments$62.7 $1.2 $63.9 
Less: Interest(5.5)(0.1)(5.6)
Present value of lease liabilities$57.2 $1.1 $58.3 
Schedule of Maturities of Finance Lease Liability
The maturity of lease liabilities as of December 31, 2025 was as follows:
Maturity of Lease LiabilitiesOperating LeasesFinance LeasesTotal
2026$24.3 $0.4 $24.7 
202719.1 0.4 19.5 
202811.2 0.3 11.5 
20294.4 0.1 4.5 
20301.6 — 1.6 
Thereafter2.1 — 2.1 
Total lease payments$62.7 $1.2 $63.9 
Less: Interest(5.5)(0.1)(5.6)
Present value of lease liabilities$57.2 $1.1 $58.3 
v3.25.4
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Income Before Income Taxes
Income before income taxes for the three years ended December 31 was as follows:
202520242023
U.S. operations$37.3 $92.3 $94.2 
Foreign operations20.6 12.5 29.6 
Total$57.9 $104.8 $123.8 
Schedule of Income Tax Expense (Benefit)
Income tax expense for the three years ended December 31 was as follows:
202520242023
Current:
Federal$1.6 $19.1 $28.7 
Foreign7.5 7.9 8.5 
State1.1 3.6 4.0 
Total current$10.2 $30.6 $41.2 
Deferred:
Federal$5.0 $(1.8)$(8.7)
Foreign(2.0)(7.7)(17.3)
State0.9 — (0.9)
Total deferred$3.9 $(9.5)$(26.9)
Total:
Federal$6.6 $17.3 $20.0 
Foreign5.5 0.2 (8.8)
State2.0 3.6 3.1 
Total income tax expense$14.1 $21.1 $14.3 
Schedule of Effective Income Tax Rate for the year ended December 31, 2025 in accordance with ASU 2023-09, which was adopted prospectively in 2025:
AmountPercent
Tax at U.S. statutory rate$12.1 21.0 %
Increases (decreases) in the tax rate from:
State and local income taxes, net of federal effect (a)
1.6 2.7 
Foreign tax effects:
Italy0.7 1.1 
Other1.3 2.2 
Tax credits:
Research and development credits(3.1)(5.4)
Other tax credits(0.1)(0.1)
Nontaxable or nondeductible items:
Nondeductible executive compensation2.2 3.8 
Other nontaxable or nondeductible items(0.4)(0.6)
Changes in unrecognized tax benefits(0.2)(0.4)
Effective income tax rate$14.1 24.3 %
(a)
The state and local jurisdictions that contribute to the majority (greater than 50%) of the tax effect in this category include California, Florida, Georgia, Michigan, New Jersey, New York, Texas, Pennsylvania, and Wisconsin.
The following table presents the reconciliation between our statutory income taxes and effective income taxes for the two years ended December 31 prior to the adoption of ASU 2023-09:
20242023
Tax at statutory rate21.0 %21.0 %
Increases (decreases) in the tax rate from:
State and local taxes, net of federal benefit3.4 2.4 
Effect of foreign operations(2.2)(10.9)
Effect of changes in valuation allowances— (0.2)
Nondeductible executive compensation2.5 1.0 
Stock based compensation(2.9)0.1 
Research and development credit(1.6)(1.3)
Other, net(0.1)(0.5)
Effective income tax rate20.1 %11.6 %
Schedule of Deferred Tax Assets and Liabilities
Deferred tax assets and liabilities were comprised of the following as of December 31:
20252024
Deferred tax assets:
Inventory$3.1 $2.2 
Compensation and employee benefits10.1 12.3 
Warranty reserves2.0 2.2 
Allowance for doubtful accounts and deferred revenue5.4 2.8 
Operating lease liabilities12.4 11.0 
Tax loss carryforwards14.4 7.7 
Tax credit carryforwards6.5 3.6 
Capitalized research and development costs2.9 19.0 
Goodwill and intangible assets10.1 7.0 
Other6.8 2.5 
Gross deferred tax assets$73.7 $70.3 
Less: valuation allowance(3.9)(3.3)
Total net deferred tax assets$69.8 $67.0 
Deferred tax liabilities:
Operating lease assets$13.2 $11.3 
Fixed assets7.2 9.2 
Capitalized implementation costs6.6 5.0 
Total deferred tax liabilities$27.0 $25.5 
Net deferred tax assets$42.8 $41.5 
Schedule of Cash Income Taxes Paid
The amount of cash income taxes paid for the year ended December 31, 2025, disaggregated in accordance with ASU 2023-09, is as follows:
2025
U.S. federal2.5 
U.S. state and local2.0 
Total U.S.4.5 
Foreign:
Germany2.2 
Brazil0.9 
Canada federal0.7 
Netherlands0.7 
France0.7 
Other3.7 
Total foreign8.9 
Total income taxes paid$13.4 
Schedule of Unrecognized Tax Benefits
A reconciliation of the beginning and ending amount of unrecognized tax benefits was as follows:
20252024
Beginning balance5.9 4.1 
Increases as a result of tax positions taken during a prior period0.4 — 
Increases as a result of tax positions taken during the current year0.5 0.9 
Increases relating to prior period tax positions of acquired entities— 1.4 
Decreases as a result of a lapse of the applicable statute of limitations(1.0)(0.5)
Increases as a result of foreign currency fluctuations0.1 — 
Ending balance$5.9 $5.9 
v3.25.4
Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Valuation Assumptions
The following table illustrates the valuation assumptions used for the 2023 stock option grants:
2023
Expected volatility35 %
Weighted-average expected volatility35 %
Expected dividend yield1.6 %
Weighted-average expected dividend yield1.6 %
Expected term, in years5
Risk-free interest rate4.2 %
Schedule of Activity for Stock Option Awards
The following table summarizes stock option activity during the year ended December 31, 2025:
Number of SharesWeighted-Average Exercise
Price
Weighted-Average Remaining Contractual Life (years)Aggregate Intrinsic Value
Outstanding as of January 1, 2025302,404$72.18 
Exercised(10,471)55.28 
Outstanding as of December 31, 2025291,933$72.78 4.5$1.0 
Options exercisable as of December 31, 2025273,531$72.78 4.3$1.0 
Options expected to vest as of December 31, 202518,402$72.88 7.2$— 
Schedule of Activity for Nonvested Restricted Share Awards
The following table summarizes restricted share award activity during the year ended December 31, 2025:
Number of SharesWeighted-Average Grant Date Fair
Value
Outstanding as of January 31, 202586,205$80.18 
Granted41,06689.16 
Vested(16,097)78.78 
Forfeited(4,611)98.20 
Outstanding as of December 31, 2025106,563$83.07 
Schedule of Activity for Nonvested Performance Share Awards
The following table summarizes performance share awards activity during the year ended December 31, 2025:
Number of SharesWeighted-Average Grant Date Fair
Value
Outstanding as of January 1, 2025149,617$85.94 
Granted75,25687.11 
Vested(57,653)78.29 
Forfeited(11,337)93.32 
Outstanding as of December 31, 2025155,883$88.87 
Schedule of Activity for Nonvested Restricted Stock Units
The following table summarizes restricted stock units activity during the year ended December 31, 2025:
Number of SharesWeighted-Average Grant Date Fair
Value
Outstanding as of January 1, 2025132,143$85.08 
Granted43,00780.81 
Vested(37,629)81.19 
Forfeited(11,399)91.14 
Outstanding as of December 31, 2025126,122$84.24 
v3.25.4
Income Attributable to Tennant Company Per Share (Tables)
12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Computations of Basic and Diluted Earnings per Share
The computations of basic and diluted earnings attributable to Tennant Company per share for the years ended December 31 were as follows:
202520242023
Numerator:
Net income$43.8 $83.7 $109.5 
Denominator:
Basic - weighted average shares outstanding18,366,21618,786,87118,509,523
Effect of dilutive securities213,491309,267274,110
Diluted - weighted average shares outstanding18,579,70719,096,13818,783,633
Basic earnings per share$2.38 $4.46 $5.92 
Diluted earnings per share$2.36 $4.38 $5.83 
v3.25.4
Segment Reporting (Tables)
12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Net Sales and Long-lived Assets by Geographic Area The following table presents net sales by geographic area for the three years ended December 31:
202520242023
Net Sales:
United States$670.9 $766.9 $726.8 
Other Americas121.1 121.6 113.5 
Americas792.0 888.5 840.3 
Europe, Middle East, Africa334.6 318.5 314.4 
Asia Pacific76.9 79.7 88.9 
Total$1,203.5 $1,286.7 $1,243.6 
The following table presents long-lived assets by geographic area as of December 31:
202520242023
Long-lived assets:
United States$172.9 $166.6 $104.2 
Other Americas40.3 29.0 31.9 
Americas213.2 195.6 136.1 
Italy238.9 193.7 218.0 
Other Europe, Middle East, Africa82.8 93.6 75.6 
Europe, Middle East, Africa321.7 287.3 293.6 
Asia Pacific31.3 29.6 30.4 
Total$566.2 $512.5 $460.1 
v3.25.4
Significant Accounting Policies (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Significant Accounting Policies [Line Items]      
Restricted cash $ 0.2 $ 0.2  
Goodwill impairment loss   0.0  
Advertising expense $ 6.0 $ 5.7 $ 4.6
2016 Share Repurchase Program      
Significant Accounting Policies [Line Items]      
Number of shares authorized to be repurchased (in shares) 3,000,000    
Number of remaining shares authorized to be repurchased (in shares) 1,514,063    
Minimum      
Significant Accounting Policies [Line Items]      
Warranty term (in years) 1 year    
Maximum      
Significant Accounting Policies [Line Items]      
Warranty term (in years) 4 years    
Buildings and improvements      
Significant Accounting Policies [Line Items]      
Useful life (in years) 30 years    
Property, Plant and Equipment, Other | Minimum      
Significant Accounting Policies [Line Items]      
Useful life (in years) 3 years    
Property, Plant and Equipment, Other | Maximum      
Significant Accounting Policies [Line Items]      
Useful life (in years) 15 years    
v3.25.4
Revenue - Disaggregation of Revenue (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disaggregation of Revenue [Line Items]      
Net sales $ 1,203.5 $ 1,286.7 $ 1,243.6
Sales direct to consumer      
Disaggregation of Revenue [Line Items]      
Net sales 831.5 905.7 854.4
Sales to distributors      
Disaggregation of Revenue [Line Items]      
Net sales 372.0 381.0 389.2
Equipment      
Disaggregation of Revenue [Line Items]      
Net sales 714.7 808.7 776.4
Parts and consumables      
Disaggregation of Revenue [Line Items]      
Net sales 275.6 274.3 279.5
Service and other      
Disaggregation of Revenue [Line Items]      
Net sales 213.2 203.7 187.7
Americas      
Disaggregation of Revenue [Line Items]      
Net sales 792.0 888.5 840.3
Europe, Middle East and Africa (EMEA)      
Disaggregation of Revenue [Line Items]      
Net sales 334.6 318.5 314.4
Asia Pacific (APAC)      
Disaggregation of Revenue [Line Items]      
Net sales $ 76.9 $ 79.7 $ 88.9
v3.25.4
Revenue - Contract Liabilities (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Sales Incentives    
Movement in Deferred Sales Inducements [Roll Forward]    
Beginning balance $ 16.1 $ 21.2
Additions to sales incentive accrual 20.3 22.4
Contract payments (22.4) (27.2)
Foreign currency fluctuations 0.8 (0.3)
Ending balance 14.8 16.1
Movement in Deferred Revenue [Roll Forward]    
Foreign currency fluctuations 0.8 (0.3)
Maintenance    
Movement in Deferred Sales Inducements [Roll Forward]    
Foreign currency fluctuations 0.7 (0.6)
Movement in Deferred Revenue [Roll Forward]    
Beginning balance 20.6 10.3
Increase in deferred revenue representing our obligation to satisfy future performance obligations 31.9 31.7
Decrease in deferred revenue for amounts recognized in net sales for satisfied performance obligations (20.8) (20.8)
Foreign currency fluctuations 0.7 (0.6)
Ending balance $ 32.4 $ 20.6
v3.25.4
Revenue - Narrative (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Disaggregation of Revenue [Line Items]    
Deferred revenue, current $ 16.6 $ 9.8
Other Current Liabilities | Maintenance    
Disaggregation of Revenue [Line Items]    
Deferred revenue, current 16.6 9.8
Other liabilities | Maintenance    
Disaggregation of Revenue [Line Items]    
Deferred revenue, noncurrent $ 15.8 $ 10.8
Minimum    
Disaggregation of Revenue [Line Items]    
Standard prepaid maintenance contract time period (months) 12 months  
Maximum    
Disaggregation of Revenue [Line Items]    
Standard prepaid maintenance contract time period (months) 60 months  
v3.25.4
Revenue - Remaining Performance Obligation (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Total remaining performance obligation $ 32.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Total remaining performance obligation $ 16.7
Remaining performance obligation, expected timing of satisfaction period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Total remaining performance obligation $ 7.0
Remaining performance obligation, expected timing of satisfaction period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Total remaining performance obligation $ 4.6
Remaining performance obligation, expected timing of satisfaction period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Total remaining performance obligation $ 3.1
Remaining performance obligation, expected timing of satisfaction period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2030-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Total remaining performance obligation $ 1.0
Remaining performance obligation, expected timing of satisfaction period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2031-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Total remaining performance obligation $ 0.0
Remaining performance obligation, expected timing of satisfaction period
v3.25.4
Management Actions - Pre-Tax Severance Related Charges (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Restructuring Cost and Reserve [Line Items]    
Total pre-tax restructuring costs $ 6.4 $ 8.2
Selling, General and Administrative Expenses    
Restructuring Cost and Reserve [Line Items]    
Severance-related costs $ 6.4 $ 8.2
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration] Selling and administrative expense  
v3.25.4
Management Actions - Reconciliation of Liability Balance of Severance and Related Costs (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Restructuring Reserve [Roll Forward]    
Beginning balance $ 8.6 $ 2.4
New charges 8.8 8.8
Cash payments (8.7) (2.3)
Foreign currency adjustments 1.1 0.3
Adjustment to accrual (2.4) (0.6)
Ending balance $ 7.4 $ 8.6
v3.25.4
Acquisitions - Narrative (Details) - USD ($)
$ in Thousands
Sep. 01, 2025
Feb. 29, 2024
Management and Financing GmbH    
Business Combination [Line Items]    
Business acquisition, percentage of voting interests acquired   100.00%
Business Combination, Consideration Transferred   $ 34,900
Reinigungstechnik 4 You GmbH    
Business Combination [Line Items]    
Business acquisition, percentage of voting interests acquired 100.00%  
Business Combination, Consideration Transferred $ 3,600  
v3.25.4
Acquisitions - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Thousands
Feb. 29, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
LIABILITIES        
Goodwill   $ 208,600 $ 185,600 $ 187,400
Management and Financing GmbH        
Components of purchase price:        
Purchase price $ 31,000      
Settlement of preexisting transactions 3,900      
Total purchase price 34,900      
ASSETS        
Cash 5,400      
Other current assets 8,900      
Intangible assets subject to amortization 13,800      
Other assets 5,700      
Total identifiable assets acquired 33,800      
LIABILITIES        
Current liabilities (1,600)      
Long-term liabilities (6,700)      
Total identifiable liabilities assumed (8,300)      
Net assets acquired 25,500      
Goodwill 9,400      
Management and Financing GmbH | Customer lists        
ASSETS        
Intangible assets subject to amortization 13,200      
Management and Financing GmbH | Backlog        
ASSETS        
Intangible assets subject to amortization $ 600      
v3.25.4
Inventories - Inventories (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Inventory [Line Items]    
Excess of FIFO over LIFO cost $ (54.9) $ (50.4)
Total LIFO inventories 65.6 73.4
Total FIFO inventories 132.9 110.4
Total inventories 198.5 183.8
Inventories carried at LIFO:    
Inventory [Line Items]    
Finished goods 85.0 85.4
Raw materials and work-in-process 35.5 38.4
Inventories carried at FIFO:    
Inventory [Line Items]    
Finished goods 64.3 53.2
Raw materials and work-in-process $ 68.6 $ 57.2
v3.25.4
Property, Plant and Equipment - Property, Plant and Equipment (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Property, Plant and Equipment [Line Items]    
Total property, plant and equipment $ 478.8 $ 495.3
Less: accumulated depreciation (289.0) (310.9)
Property, plant and equipment, net 189.8 184.4
Land    
Property, Plant and Equipment [Line Items]    
Total property, plant and equipment 27.9 24.1
Buildings and improvements    
Property, Plant and Equipment [Line Items]    
Total property, plant and equipment 144.0 134.1
Machinery and manufacturing equipment    
Property, Plant and Equipment [Line Items]    
Total property, plant and equipment 243.5 210.4
Office equipment    
Property, Plant and Equipment [Line Items]    
Total property, plant and equipment 59.1 122.2
Construction in progress    
Property, Plant and Equipment [Line Items]    
Total property, plant and equipment $ 4.3 $ 4.5
v3.25.4
Property, Plant and Equipment - Narrative (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Abstract]      
Depreciation expense $ 45.0 $ 40.1 $ 36.4
v3.25.4
Goodwill and Intangible Assets - Narrative (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Sep. 01, 2025
Feb. 29, 2024
Finite-Lived Intangible Assets [Line Items]          
Amortization expense $ 13,700 $ 15,000 $ 14,700    
Management and Financing GmbH          
Finite-Lived Intangible Assets [Line Items]          
Intangible assets subject to amortization         $ 13,800
Reinigungstechnik 4 You GmbH          
Finite-Lived Intangible Assets [Line Items]          
Intangible assets subject to amortization       $ 1,200  
Customer Lists | Management and Financing GmbH          
Finite-Lived Intangible Assets [Line Items]          
Intangible assets subject to amortization         $ 13,200
v3.25.4
Goodwill and Intangible Assets - Changes in Carrying Amount of Goodwill (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Goodwill [Roll Forward]    
Beginning balance $ 218.1 $ 220.7
Additions 1.4 9.4
Beginning balance, accumulated impairment losses (32.5) (33.3)
Beginning balance, net 185.6 187.4
Foreign currency fluctuations 24.4 (12.0)
Foreign currency fluctuations, accumulated impairment losses (2.8) 0.8
Foreign currency fluctuations, net 21.6 (11.2)
Ending balance 243.9 218.1
Ending balance, accumulated impairment losses (35.3) (32.5)
Ending balance, net $ 208.6 $ 185.6
v3.25.4
Goodwill and Intangible Assets - Balances of Acquired Intangible Assets, Excluding Goodwill (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]    
Original cost $ 222.7 $ 197.4
Accumulated amortization (170.1) (138.7)
Carrying amount 52.6 58.7
Customer Lists    
Finite-Lived Intangible Assets [Line Items]    
Original cost 174.9 154.6
Accumulated amortization (128.1) (104.9)
Carrying amount $ 46.8 $ 49.7
Weighted-average original life (in years) 14 years 15 years
Trade Names    
Finite-Lived Intangible Assets [Line Items]    
Original cost $ 31.1 $ 27.6
Accumulated amortization (26.6) (20.8)
Carrying amount $ 4.5 $ 6.8
Weighted-average original life (in years) 10 years 11 years
Technology    
Finite-Lived Intangible Assets [Line Items]    
Original cost $ 16.7 $ 15.2
Accumulated amortization (15.4) (13.0)
Carrying amount $ 1.3 $ 2.2
Weighted-average original life (in years) 12 years 11 years
v3.25.4
Goodwill and Intangible Assets - Estimated Aggregate Amortization Expense (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]  
2026 $ 12.9
2027 9.3
2028 7.5
2029 6.7
2030 6.2
Thereafter 10.0
Total $ 52.6
v3.25.4
Debt - Narrative (Details) - USD ($)
$ in Millions
12 Months Ended
Aug. 07, 2024
Dec. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]      
Cross-currency swap instruments, net   4.40%  
The 2021 Credit Agreement      
Debt Instrument [Line Items]      
Letters of credit outstanding   $ 3.2  
Commitment fees on unused lines of credit   0.6  
The 2021 Credit Agreement | Revolving credit facility borrowings      
Debt Instrument [Line Items]      
Outstanding borrowings   272.5 $ 197.5
Unused borrowing capacity   $ 374.3  
Debt Including Related Cross-currency Swap Instrument      
Debt Instrument [Line Items]      
Weighted average cost of debt   5.80%  
The 2024 Credit Agreement      
Debt Instrument [Line Items]      
EBITDA ratio, maximum 3.75    
Permitted acquisitions $ 50.0    
Maximum EBITDA to interest expense ratio 3.00    
Leverage ratio minimum 2.50    
Dividends payout $ 100.0    
The 2024 Credit Agreement | Fed Funds Effective Rate Overnight Index Swap Rate      
Debt Instrument [Line Items]      
Basis spread on variable rate 0.50%    
The 2024 Credit Agreement | Adjusted Secured Overnight Financing Rate      
Debt Instrument [Line Items]      
Basis spread on variable rate 1.00%    
Variable rate floor 1.00%    
The 2024 Credit Agreement | Minimum | Adjusted Secured Overnight Financing Rate | Variable Rate Component One      
Debt Instrument [Line Items]      
Basis spread on variable rate 0.25%    
The 2024 Credit Agreement | Minimum | Adjusted Secured Overnight Financing Rate | Variable Rate Component Two      
Debt Instrument [Line Items]      
Basis spread on variable rate 1.25%    
The 2024 Credit Agreement | Minimum | Adjusted Risk Free Rate      
Debt Instrument [Line Items]      
Basis spread on variable rate 1.25%    
The 2024 Credit Agreement | Maximum | Adjusted Secured Overnight Financing Rate | Variable Rate Component One      
Debt Instrument [Line Items]      
Basis spread on variable rate 1.00%    
The 2024 Credit Agreement | Maximum | Adjusted Secured Overnight Financing Rate | Variable Rate Component Two      
Debt Instrument [Line Items]      
Basis spread on variable rate 2.00%    
The 2024 Credit Agreement | Maximum | Adjusted Risk Free Rate      
Debt Instrument [Line Items]      
Basis spread on variable rate 2.00%    
The 2024 Credit Agreement | Revolving credit facility borrowings | Minimum      
Debt Instrument [Line Items]      
Commitment fee (as a percent) 0.15%    
The 2024 Credit Agreement | Revolving credit facility borrowings | Maximum      
Debt Instrument [Line Items]      
Commitment fee (as a percent) 0.30%    
The 2024 Credit Agreement | Line of Credit | Revolving credit facility borrowings      
Debt Instrument [Line Items]      
Revolving credit facility $ 650.0    
Credit facility $ 325.0    
v3.25.4
Debt - Debt Outstanding (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Finance lease liabilities $ 1.1 $ 1.2
Bank overdrafts 0.0 0.8
Total debt 273.6 199.5
Less: current portion of long-term debt (0.4) (1.3)
Long-term debt 273.2 198.2
Current finance lease liability 0.4 0.5
The 2021 Credit Agreement    
Debt Instrument [Line Items]    
Current finance lease liability 0.4  
The 2021 Credit Agreement | Revolving credit facility borrowings    
Debt Instrument [Line Items]    
Outstanding borrowings $ 272.5 $ 197.5
v3.25.4
Debt - Debt Maturities (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Debt Disclosure [Abstract]  
2026 $ 0.4
2027 0.4
2028 0.2
2029 272.6
2030 0.0
Thereafter 0.0
Total aggregate maturities $ 273.6
v3.25.4
Other Current Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Payables and Accruals [Abstract]    
Taxes $ 18.5 $ 20.5
Warranty reserve 6.5 6.9
Deferred revenue 16.6 9.8
Customer sales incentives 14.8 16.1
Freight 3.6 4.0
Restructuring 7.4 8.5
Operating leases 21.7 18.5
Miscellaneous accrued expenses 35.2 26.6
Total other current liabilities $ 124.3 $ 110.9
v3.25.4
Derivatives - Narrative (Details)
€ in Millions, $ in Millions
12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2025
EUR (€)
Dec. 31, 2025
EUR (€)
Dec. 31, 2024
USD ($)
Dec. 31, 2024
EUR (€)
Dec. 01, 2022
USD ($)
Derivative Instruments, Gain (Loss) [Line Items]            
Derivate gains to be reclassified within the next twelve months | $ $ 0.6          
Foreign currency forward contracts | Derivatives not designated as hedging instruments:            
Derivative Instruments, Gain (Loss) [Line Items]            
Derivative notional amount | $ $ 92.9     $ 70.2    
Interest rate swaps | Derivatives designated as hedging instruments | Derivatives designated as cash flow hedges:            
Derivative Instruments, Gain (Loss) [Line Items]            
Derivative notional amount | $           $ 120.0
Fixed interest rate           4.076%
Cross-currency swaps | Derivatives designated as hedging instruments | Derivatives designated as fair value hedges:            
Derivative Instruments, Gain (Loss) [Line Items]            
Derivative notional amount | €     € 75.0      
Debt instrument, periodic payment, interest | €   € 3.0        
Cross-currency swaps | Derivatives designated as hedging instruments | Derivatives designated as net investment hedges:            
Derivative Instruments, Gain (Loss) [Line Items]            
Derivative notional amount | €         € 75.0  
v3.25.4
Derivatives - Fair Value of Derivative Instruments (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Derivatives designated as hedging instruments | Interest rate swaps | Derivatives designated as cash flow hedges:    
Derivatives, Fair Value [Line Items]    
Derivative Assets $ 0.0 $ 0.1
Derivative Liabilities 0.0 0.0
Derivative other asset, before offset 0.0 0.0
Derivative other liability, asset offset 0.4 0.2
Derivatives designated as hedging instruments | Cross-currency swaps | Derivatives designated as fair value hedges:    
Derivatives, Fair Value [Line Items]    
Derivative Assets 1.2 1.5
Derivative Liabilities 0.0 0.0
Derivative other asset, before offset 0.0 0.5
Derivative other liability, asset offset 8.9 0.0
Derivatives designated as hedging instruments | Cross-currency swaps | Derivatives designated as net investment hedges:    
Derivatives, Fair Value [Line Items]    
Derivative Assets 1.2 1.2
Derivative Liabilities 0.0 0.0
Derivative other asset, before offset 0.0 0.2
Derivative other liability, asset offset 8.9 0.0
Derivatives not designated as hedging instruments: | Foreign currency forward contracts    
Derivatives, Fair Value [Line Items]    
Derivative Assets 0.3 0.8
Derivative Liabilities $ 0.1 $ 0.0
v3.25.4
Derivatives - Effect of Derivative Instruments on Consolidated Statements of Earnings (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Foreign Currency Fair Value Hedge Derivative [Line Items]      
Net sales $ 1,203.5 $ 1,286.7 $ 1,243.6
Interest expense, net (9.0) (9.1) (13.5)
Gain (Loss), Foreign Currency Transaction, before Tax (1.7) 0.1 0.3
Net gain (loss) recognized in other comprehensive (loss) income, net of tax 0.4 (0.1) (1.4)
Derivatives designated as hedging instruments | Derivatives designated as cash flow hedges:      
Foreign Currency Fair Value Hedge Derivative [Line Items]      
Interest expense, net (9.0) (9.1)  
Gain (Loss), Foreign Currency Transaction, before Tax (1.7) 0.1  
Derivatives designated as hedging instruments | Derivatives designated as cash flow hedges: | Interest expense, net      
Foreign Currency Fair Value Hedge Derivative [Line Items]      
Gain (Loss) on Hedge Activity 0.3 1.0  
Derivatives designated as hedging instruments | Derivatives designated as cash flow hedges: | Net foreign currency transaction (loss) gain      
Foreign Currency Fair Value Hedge Derivative [Line Items]      
Gain (Loss) on Hedge Activity (0.1) 0.0  
Derivatives designated as hedging instruments | Derivatives designated as cash flow hedges: | Foreign Exchange Option      
Foreign Currency Fair Value Hedge Derivative [Line Items]      
Net gain (loss) recognized in other comprehensive (loss) income, net of tax 0.0 1.8 0.6
Net gain reclassified from accumulated other comprehensive loss into income, net of tax, effective portion to interest income expenses 0.2 1.0 2.0
Derivatives designated as hedging instruments | Derivatives designated as fair value hedges:      
Foreign Currency Fair Value Hedge Derivative [Line Items]      
Interest expense, net (9.0) (9.1)  
Gain (Loss), Foreign Currency Transaction, before Tax (1.7) 0.1  
Derivatives designated as hedging instruments | Derivatives designated as fair value hedges: | Interest expense, net      
Foreign Currency Fair Value Hedge Derivative [Line Items]      
Gain (Loss) on Hedge Activity 1.0 1.1  
Derivatives designated as hedging instruments | Derivatives designated as fair value hedges: | Net foreign currency transaction (loss) gain      
Foreign Currency Fair Value Hedge Derivative [Line Items]      
Gain (Loss) on Hedge Activity (8.0) 3.9  
Derivatives designated as hedging instruments | Derivatives designated as fair value hedges: | Foreign Exchange Option      
Foreign Currency Fair Value Hedge Derivative [Line Items]      
Net gain (loss) recognized in other comprehensive (loss) income, net of tax 1.6 0.2 0.0
Net gain reclassified from accumulated other comprehensive loss into income, net of tax, effective portion to interest income expenses 1.0 1.1 0.0
Derivatives designated as hedging instruments | Derivatives designated as net investment hedges:      
Foreign Currency Fair Value Hedge Derivative [Line Items]      
Interest expense, net (9.0) (9.1)  
Derivatives designated as hedging instruments | Derivatives designated as net investment hedges: | Interest expense, net      
Foreign Currency Fair Value Hedge Derivative [Line Items]      
Gain (Loss) on Hedge Activity 1.0 1.0  
Derivatives designated as hedging instruments | Derivatives designated as net investment hedges: | Foreign Exchange Option      
Foreign Currency Fair Value Hedge Derivative [Line Items]      
Net gain (loss) recognized in other comprehensive (loss) income, net of tax (6.1) 3.8 2.0
Net gain reclassified from accumulated other comprehensive loss into income, net of tax, effective portion to interest income expenses 1.0 1.0 1.0
Derivatives not designated as hedging instruments: | Foreign Exchange Option      
Foreign Currency Fair Value Hedge Derivative [Line Items]      
Net gain (loss) recognized in income $ (9.6) $ 6.1 $ 1.7
v3.25.4
Fair Value Measurements - Narrative (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Feb. 21, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Fair value of total debt $ 281.4    
Carrying value of total debt 273.6 $ 199.5  
Debt securities $ 11.8 12.3  
Equity securities   $ 20.0  
Redeemable Preferred Stock      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Debt securities     $ 12.1
Nonredeemable Preferred Stock      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Equity securities     12.2
Warrant      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Equity securities     $ 7.8
v3.25.4
Fair Value Measurements - Schedule of Debt and Equity Securities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Fair Value Disclosures [Abstract]    
Available-for-sale debt securities, cost $ 12.1 $ 12.1
Equity securities, cost   20.0
Total debt and equity securities, cost   32.1
Available-for-sale debt securities, fair value 11.8 12.3
Equity securities, fair value   20.0
Total debt and equity securities, fair value   32.3
Available-for-sale debt securities, gross unrealized gains 0.0 0.2
Available-for-sale debt securities, gross unrealized losses $ (0.3) $ 0.0
v3.25.4
Fair Value Measurements - Schedule of Maturities of Debt Securities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Cost    
After 5 years through 10 years $ 12.1  
Total debt securities 12.1 $ 12.1
Fair Value    
After 5 years through 10 years 11.8  
Total debt securities $ 11.8 $ 12.3
v3.25.4
Fair Value Measurements - Assets and Liabilities Subject to Fair Value Measurements (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities   $ 20.0
Debt securities $ 11.8 12.3
Total assets 14.5 36.6
Total liabilities 18.3 0.2
Foreign currency forward contracts    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative asset 0.3 0.8
Derivative liability 0.1 0.0
Cross-currency swaps    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative asset 2.4 3.4
Derivative liability 17.8 0.0
Interest rate swaps    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative asset 0.0 0.1
Derivative liability 0.4 0.2
Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities   0.0
Debt securities 0.0 0.0
Total assets 0.0 0.0
Total liabilities 0.0 0.0
Level 1 | Foreign currency forward contracts    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative asset 0.0 0.0
Derivative liability 0.0 0.0
Level 1 | Cross-currency swaps    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative asset 0.0 0.0
Derivative liability 0.0 0.0
Level 1 | Interest rate swaps    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative asset 0.0 0.0
Derivative liability 0.0 0.0
Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities   0.0
Debt securities 0.0 0.0
Total assets 2.7 4.3
Total liabilities 18.3 0.2
Level 2 | Foreign currency forward contracts    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative asset 0.3 0.8
Derivative liability 0.1 0.0
Level 2 | Cross-currency swaps    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative asset 2.4 3.4
Derivative liability 17.8 0.0
Level 2 | Interest rate swaps    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative asset 0.0 0.1
Derivative liability 0.4 0.2
Level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities   20.0
Debt securities 11.8 12.3
Total assets 11.8 32.3
Total liabilities 0.0 0.0
Level 3 | Foreign currency forward contracts    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative asset 0.0 0.0
Derivative liability 0.0 0.0
Level 3 | Cross-currency swaps    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative asset 0.0 0.0
Derivative liability 0.0 0.0
Level 3 | Interest rate swaps    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative asset 0.0 0.0
Derivative liability $ 0.0 $ 0.0
v3.25.4
Retirement Benefit Plans - Narrative (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Matching contribution, percent 3.00%    
Minimum service period required to be eligible 1 year    
Cost $ 5.6 $ 10.0 $ 10.5
UNITED STATES | Supplemental Employee Retirement Plan      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Plan assets, amount 0.0 0.0 0.0
Non-U.S. Plan | Pension Plan      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Plan assets, amount 13.4 12.6 12.7
Expected future employer contributions 0.3    
UK Pension Plan [Member] | Non-U.S. Plan | Pension Plan      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Plan assets, amount 6.2 $ 12.6 $ 12.7
Retiree Plan | UNITED STATES      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Expected future employer contributions $ 0.6    
v3.25.4
Retirement Benefit Plans - Weighted-average Asset Allocations by Asset Category (Details) - Non-U.S. Plan - Pension Plan - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Plan assets, amount $ 13.4 $ 12.6 $ 12.7
Level 1      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Plan assets, amount 7.2 0.0  
Level 2      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Plan assets, amount 0.0 0.0  
Level 3      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Plan assets, amount 6.2 12.6  
Investment Account Held by Pension Plan      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Plan assets, amount 7.2 6.7  
Investment Account Held by Pension Plan | Level 1      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Plan assets, amount 7.2 0.0  
Investment Account Held by Pension Plan | Level 2      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Plan assets, amount 0.0 0.0  
Investment Account Held by Pension Plan | Level 3      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Plan assets, amount 0.0 6.7  
Buy-in Insurance Contract      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Plan assets, amount 6.2 5.9  
Buy-in Insurance Contract | Level 1      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Plan assets, amount 0.0 0.0  
Buy-in Insurance Contract | Level 2      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Plan assets, amount 0.0 0.0  
Buy-in Insurance Contract | Level 3      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Plan assets, amount $ 6.2 $ 5.9  
v3.25.4
Retirement Benefit Plans - Reconciliation of Level 3 Investments (Details) - Non-U.S. Plan - Pension Plan - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]    
Fair value at beginning of year $ 12.6 $ 12.7
Fair value at end of year 13.4 12.6
UK Pension Plan [Member]    
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]    
Fair value at beginning of year 12.6 12.7
Purchases, sales, issuances and settlements, net (0.5) (0.4)
Net (loss) gain 0.3 (0.2)
Net transfer into (out of) Level 3 (7.2) 0.7
Foreign currency 1.0 (0.2)
Fair value at end of year $ 6.2 $ 12.6
v3.25.4
Retirement Benefit Plans - Weighted-average Assumptions Used (Details)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Postretirement Medical Benefits      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Discount rate 4.90% 5.39%  
Rate of compensation increase 0.00% 0.00%  
Discount rate 5.39% 5.06% 5.37%
Expected long-term rate of return on plan assets 0.00% 0.00% 0.00%
Rate of compensation increase 0.00% 0.00% 0.00%
UNITED STATES | Supplemental Employee Retirement Plan      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Discount rate 5.00% 5.42%  
Rate of compensation increase 0.00% 0.00%  
Discount rate 5.42% 5.07% 5.37%
Expected long-term rate of return on plan assets 0.00% 0.00% 0.00%
Rate of compensation increase 0.00% 0.00% 0.00%
Non-U.S. Plan | Pension Plan      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Discount rate 4.92% 4.65%  
Rate of compensation increase 3.18% 3.00%  
Discount rate 4.65% 4.26% 4.68%
Expected long-term rate of return on plan assets 6.10% 6.10% 6.10%
Rate of compensation increase 3.00% 3.00% 2.25%
v3.25.4
Retirement Benefit Plans - Accumulated Benefit Obligations (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Pension Plan    
Defined Benefit Plan, Plan Assets, Category [Line Items]    
Accumulated benefit obligation $ 11.9 $ 10.9
Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation 4.8 4.9
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation 4.6 4.6
Supplemental Employee Retirement Plan    
Defined Benefit Plan, Plan Assets, Category [Line Items]    
Accumulated benefit obligation $ 7.2 $ 6.3
v3.25.4
Retirement Benefit Plans - Assumed Healthcare Trend Rates (Details) - Postretirement Medical Benefits
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Defined Benefit Plan, Plan Assets, Category [Line Items]    
Ultimate trend rate 4.00% 4.00%
Year that trend reaches ultimate rate 2050 2047
Health care cost trend rate assumed next year    
Defined Benefit Plan, Plan Assets, Category [Line Items]    
Healthcare cost trend rate assumption 7.65% 8.40%
v3.25.4
Retirement Benefit Plans - Changes in Benefit Obligations and Plan Assets (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Postretirement Medical Benefits      
Change in benefit obligation:      
Benefit obligation at beginning of year $ 4.8 $ 4.3 $ 4.6
Service cost 0.0 0.0 0.0
Interest cost 0.2 0.2 0.3
Actuarial loss (gain) 1.1 0.1  
Foreign exchange 0.0 0.0  
Net transfer in 0.0 0.0  
Benefits paid (0.8) (0.6)  
Benefit obligation at end of year 4.8 4.3 4.6
Change in fair value of plan assets and net accrued liabilities:      
Fair value at beginning of year 0.0 0.0  
Actual return on plan assets 0.0 0.0  
Employer contributions 0.8 0.6  
Foreign exchange 0.0 0.0  
Net transfer in 0.0 0.0  
Benefits paid (0.8) (0.6)  
Fair value at end of year 0.0 0.0 0.0
Funded status at end of year (4.8) (4.3)  
Noncurrent other assets 0.0 0.0  
Current liabilities (0.6) (0.5)  
Long-term liabilities (4.2) (3.8)  
Net accrued liability (4.8) (4.3)  
Prior service cost 0.0 0.0  
Net actuarial (loss) gain 0.0 1.4  
Accumulated other comprehensive (loss) income 0.0 1.4  
UNITED STATES | Supplemental Employee Retirement Plan      
Change in benefit obligation:      
Benefit obligation at beginning of year 0.8 0.8 0.9
Service cost 0.0 0.0 0.0
Interest cost 0.0 0.0 0.0
Actuarial loss (gain) 0.1 0.0  
Foreign exchange 0.0 0.0  
Net transfer in 0.0 0.0  
Benefits paid (0.1) (0.1)  
Benefit obligation at end of year 0.8 0.8 0.9
Change in fair value of plan assets and net accrued liabilities:      
Fair value at beginning of year 0.0 0.0  
Actual return on plan assets 0.0 0.0  
Employer contributions 0.1 0.1  
Foreign exchange 0.0 0.0  
Net transfer in 0.0 0.0  
Benefits paid (0.1) (0.1)  
Fair value at end of year 0.0 0.0 0.0
Funded status at end of year (0.8) (0.8)  
Noncurrent other assets 0.0 0.0  
Current liabilities (0.1) (0.1)  
Long-term liabilities (0.7) (0.7)  
Net accrued liability (0.8) (0.8)  
Prior service cost 0.0 0.0  
Net actuarial (loss) gain (0.7) (0.7)  
Accumulated other comprehensive (loss) income (0.7) (0.7)  
Non-U.S. Plan | Pension Plan      
Change in benefit obligation:      
Benefit obligation at beginning of year 11.3 10.3 10.4
Service cost 0.1 0.1 0.1
Interest cost 0.5 0.4 0.5
Actuarial loss (gain) 0.3 (0.2)  
Foreign exchange 1.0 (0.4)  
Net transfer in 0.0 0.7  
Benefits paid (0.9) (0.7)  
Benefit obligation at end of year 11.3 10.3 10.4
Change in fair value of plan assets and net accrued liabilities:      
Fair value at beginning of year 12.6 12.7  
Actual return on plan assets 0.3 (0.2)  
Employer contributions 0.5 0.3  
Foreign exchange 0.9 (0.2)  
Net transfer in 0.0 0.7  
Benefits paid (0.9) (0.7)  
Fair value at end of year 13.4 12.6 $ 12.7
Funded status at end of year 2.1 2.3  
Noncurrent other assets 6.2 6.4  
Current liabilities (0.3) (0.3)  
Long-term liabilities (3.8) (3.8)  
Net accrued liability 2.1 2.3  
Prior service cost (0.1) (0.1)  
Net actuarial (loss) gain 1.9 2.7  
Accumulated other comprehensive (loss) income $ 1.8 $ 2.6  
v3.25.4
Retirement Benefit Plans - Components of Net Periodic Benefit Cost (Credit) (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Postretirement Medical Benefits      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Service cost $ 0.0 $ 0.0 $ 0.0
Interest cost 0.2 0.2 0.3
Expected return on plan assets 0.0 0.0 0.0
Amortization of net actuarial loss (gain) (0.2) (0.3) (0.2)
Net periodic benefit expense (income) 0.0 (0.1) 0.1
UNITED STATES | Supplemental Employee Retirement Plan      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Service cost 0.0 0.0 0.0
Interest cost 0.0 0.0 0.0
Expected return on plan assets 0.0 0.0 0.0
Amortization of net actuarial loss (gain) 0.1 0.1 0.1
Net periodic benefit expense (income) 0.1 0.1 0.1
Non-U.S. Plan | Pension Plan      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Service cost 0.1 0.1 0.1
Interest cost 0.5 0.4 0.5
Expected return on plan assets (0.8) (0.8) (0.7)
Amortization of net actuarial loss (gain) (0.1) (0.1) (0.1)
Net periodic benefit expense (income) $ (0.3) $ (0.4) $ (0.2)
v3.25.4
Retirement Benefit Plans - Changes in Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Postretirement Medical Benefits      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Net actuarial loss $ 1.1 $ 0.1 $ (0.7)
Foreign exchange 0.0 0.0 0.0
Amortization of net actuarial (loss) gain 0.3 0.3 0.2
Amounts recorded in other comprehensive income 1.4 0.4 (0.5)
UNITED STATES | Supplemental Employee Retirement Plan      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Net actuarial loss 0.1 0.1 0.1
Foreign exchange 0.0 0.0 0.0
Amortization of net actuarial (loss) gain (0.1) (0.1) (0.1)
Amounts recorded in other comprehensive income 0.0 0.0 0.0
Non-U.S. Plan | Pension Plan      
Defined Benefit Plan, Plan Assets, Category [Line Items]      
Net actuarial loss 0.8 0.8 (0.9)
Foreign exchange (0.2) 0.1 0.0
Amortization of net actuarial (loss) gain 0.1 0.1 0.1
Amounts recorded in other comprehensive income $ 0.7 $ 1.0 $ (0.8)
v3.25.4
Retirement Benefit Plans - Benefit Payments Expected to be Paid (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Postretirement Medical Benefits  
Defined Benefit Plan, Plan Assets, Category [Line Items]  
2026 $ 0.6
2027 0.6
2028 0.6
2029 0.6
2030 0.5
2031 to 2035 2.0
Total 4.9
UNITED STATES | Supplemental Employee Retirement Plan  
Defined Benefit Plan, Plan Assets, Category [Line Items]  
2026 0.1
2027 0.1
2028 0.1
2029 0.1
2030 0.1
2031 to 2035 0.3
Total 0.8
Non-U.S. Plan | Pension Plan  
Defined Benefit Plan, Plan Assets, Category [Line Items]  
2026 0.8
2027 0.6
2028 0.8
2029 0.7
2030 0.9
2031 to 2035 4.1
Total $ 7.9
v3.25.4
Shareholders' Equity - Narrative (Details) - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Feb. 11, 2025
Share Repurchase Program [Line Items]        
Common stock, shares authorized (in shares) 60,000,000 60,000,000    
Common stock, par value (in dollars per share) $ 0.375 $ 0.375    
Repurchases of common stock $ 88,500,000 $ 19,600,000 $ 21,700,000  
2016 Share Repurchase Program        
Share Repurchase Program [Line Items]        
Number of shares authorized to be repurchased (in shares) 3,000,000      
Repurchases of common stock $ 87,700,000 $ 19,600,000    
Repurchases of common stock (in shares) 1,108,998 198,352    
Average cost per share (in dollars per share) $ 79.03      
Remaining authorized repurchase amount (in shares) $ 1,514,063      
2025 Share Repurchase Program        
Share Repurchase Program [Line Items]        
Number of shares authorized to be repurchased (in shares)       2,000,000
v3.25.4
Shareholders' Equity - Accumulated Other Comprehensive Loss, Net of Tax (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance $ 622.1 $ 578.3 $ 472.1
Other comprehensive (loss) income before reclassifications 41.7 (27.3)  
Amounts reclassified from AOCL (2.2) (3.1)  
Total other comprehensive income (loss), net of tax 39.5 (30.4) 7.9
Ending balance 603.4 622.1 578.3
Total      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance (72.7) (42.3) (50.2)
Ending balance (33.2) (72.7) (42.3)
Foreign Currency Translation Adjustments      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance (75.2) (45.6)  
Other comprehensive (loss) income before reclassifications 42.3 (28.6)  
Amounts reclassified from AOCL (1.0) (1.0)  
Total other comprehensive income (loss), net of tax 41.3 (29.6)  
Ending balance (33.9) (75.2) (45.6)
Pension and Postretirement Medical Benefits      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance 2.8 3.7  
Other comprehensive (loss) income before reclassifications (1.7) (0.9)  
Amounts reclassified from AOCL 0.0 0.0  
Total other comprehensive income (loss), net of tax (1.7) (0.9)  
Ending balance 1.1 2.8 3.7
Derivative Financial Instruments      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance (0.5) (0.4)  
Other comprehensive (loss) income before reclassifications 1.6 2.0  
Amounts reclassified from AOCL (1.2) (2.1)  
Total other comprehensive income (loss), net of tax 0.4 (0.1)  
Ending balance (0.1) (0.5) (0.4)
Unrealized Gain (Loss) on Debt Securities      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance 0.2 0.0  
Other comprehensive (loss) income before reclassifications (0.5) 0.2  
Amounts reclassified from AOCL 0.0 0.0  
Total other comprehensive income (loss), net of tax (0.5) 0.2  
Ending balance $ (0.3) $ 0.2 $ 0.0
v3.25.4
Leases - Narrative (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Leases [Abstract]  
Aggregate residual value at lease expiration for vehicle leases $ 25.5
v3.25.4
Leases - Lease Assets and Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Operating lease assets $ 56.9 $ 54.6
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Property, plant and equipment, less accumulated depreciation of $289.0 and $310.9, respectively Property, plant and equipment, less accumulated depreciation of $289.0 and $310.9, respectively
Finance lease assets $ 1.1 $ 1.1
Total leased assets $ 58.0 $ 55.7
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Other current liabilities Other current liabilities
Operating leases $ 21.7 $ 18.5
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Current portion of long-term debt Current portion of long-term debt
Finance $ 0.4 $ 0.5
Long-term operating lease liabilities $ 35.5 $ 36.3
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Long-term debt Long-term debt
Finance $ 0.7 $ 0.7
Total lease liabilities 58.3 56.0
Finance lease asset, net of accumulated amortization $ 0.8 $ 0.3
v3.25.4
Leases - Lease Cost (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]      
Operating lease cost $ 31.7 $ 30.1 $ 28.9
Finance lease cost 0.5 0.2 0.1
Total lease cost 32.2 30.3 $ 29.0
Short-term lease cost 4.3 6.2  
Variable lease cost $ 3.0 $ 2.4  
v3.25.4
Leases - Maturity of Lease Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Operating Leases    
2026 $ 24.3  
2027 19.1  
2028 11.2  
2029 4.4  
2030 1.6  
Thereafter 2.1  
Total lease payments 62.7  
Less: Interest (5.5)  
Present value of lease liabilities 57.2  
Finance Leases    
2026 0.4  
2027 0.4  
2028 0.3  
2029 0.1  
2030 0.0  
Thereafter 0.0  
Total lease payments 1.2  
Less: Interest (0.1)  
Present value of lease liabilities 1.1 $ 1.2
Total    
2026 24.7  
2027 19.5  
2028 11.5  
2029 4.5  
2030 1.6  
Thereafter 2.1  
Total lease payments 63.9  
Less: Interest (5.6)  
Total lease liabilities $ 58.3 $ 56.0
v3.25.4
Leases - Lease Term and Discount Rate (Details)
Dec. 31, 2025
Dec. 31, 2024
Weighted-average remaining lease term (years):    
Operating leases 3 years 2 months 12 days 3 years 6 months
Finance leases 3 years 2 months 12 days 4 years
Weighted-average discount rate:    
Operating leases 6.10% 6.10%
Finance leases 5.60% 5.20%
v3.25.4
Leases - Other Information (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows from operating leases $ 24.5 $ 21.3
Operating cash flows from finance leases 0.1 0.0
Financing cash flows from finance leases 0.4 0.2
Lease assets obtained in exchange for new finance lease liabilities 0.8 1.0
Lease assets obtained in exchange for new operating lease liabilities $ 18.8 $ 34.2
v3.25.4
Commitments and Contingencies (Details) - Oxygenator Water Techs vs. Tennant Company - Judicial Ruling - USD ($)
$ in Millions
Sep. 17, 2025
Nov. 25, 2024
Dec. 31, 2025
Loss Contingencies [Line Items]      
Litigation Settlement, Amount Awarded to Other Party, Enhanced Damages Percent 30.00%    
Litigation settlement, amount awarded to other party $ 20.2 $ 9.8  
Litigation settlement, prejudgment interest awarded to other party   4.7  
Loss contingency accrual   $ 14.5 $ 6.0
Compensatory Damages      
Loss Contingencies [Line Items]      
Litigation settlement, amount awarded to other party 9.8    
Enhanced Damages      
Loss Contingencies [Line Items]      
Litigation settlement, amount awarded to other party 2.9    
Prejudgment Interest      
Loss Contingencies [Line Items]      
Litigation settlement, amount awarded to other party $ 7.4    
v3.25.4
Income Taxes - Income Before Income Taxes (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
U.S. operations $ 37.3 $ 92.3 $ 94.2
Foreign operations 20.6 12.5 29.6
Income before income taxes $ 57.9 $ 104.8 $ 123.8
v3.25.4
Income Taxes - Income Tax Expense (Benefit) (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current:      
Federal $ 1.6 $ 19.1 $ 28.7
Foreign 7.5 7.9 8.5
State 1.1 3.6 4.0
Total current 10.2 30.6 41.2
Deferred:      
Federal 5.0 (1.8) (8.7)
Foreign (2.0) (7.7) (17.3)
State 0.9 0.0 (0.9)
Total deferred 3.9 (9.5) (26.9)
Total:      
Federal 6.6 17.3 20.0
Foreign 5.5 0.2 (8.8)
State 2.0 3.6 3.1
Total income tax expense $ 14.1 $ 21.1 $ 14.3
v3.25.4
Income Taxes - Narrative (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Contingency [Line Items]      
Undistributed earnings of foreign subsidiaries $ 107.6    
Undistributed foreign earnings, deferred tax liability reduction, percent   3.70% 12.00%
U.S. federal and state tax credits 6.5 $ 3.6  
Operating loss carryforwards, tax effected 14.4 7.7  
Unrecognized tax benefits 5.5 5.5  
Unrecognized tax benefits, ending balance 5.9 5.9 $ 4.1
Unrecognized tax benefits, income tax penalties and interest accrued $ 0.8 $ 0.6  
Minimum      
Income Tax Contingency [Line Items]      
Open tax year, term (Year) 3 years    
Maximum      
Income Tax Contingency [Line Items]      
Open tax year, term (Year) 5 years    
U.S. Federal and State Tax Credits      
Income Tax Contingency [Line Items]      
U.S. federal and state tax credits $ 5.8    
Foreign Tax Jurisdiction      
Income Tax Contingency [Line Items]      
Non-U.S. cumulative tax losses 63.0    
Operating loss carryforwards, tax effected 14.4    
Cumulative losses 62.0    
Limited carryforward period of losses 1.0    
Foreign Tax Jurisdiction | Netherlands Tax Credits      
Income Tax Contingency [Line Items]      
Netherlands tax credits $ 1.4    
v3.25.4
Income Taxes - Effective Income Tax Rate (Details) - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Amount      
Tax at U.S. statutory rate $ 12,100,000    
State and local income taxes, net of federal effect (a) 1,600,000    
Effect of foreign operations 700,000    
Other 1,300,000    
Research and development credits (3,100,000)    
Other tax credits (100,000)    
Nondeductible executive compensation 2,200,000 $ 0.025  
Other nontaxable or nondeductible items (400,000)    
Changes in unrecognized tax benefits (200,000)    
Total income tax expense $ 14,100,000 $ 21,100,000 $ 14,300,000
Percent      
Tax at statutory rate 21.00% 21.00% 21.00%
State and local taxes, net of federal benefit 2.70% 3.40% 2.40%
Effect of foreign operations 1.10% (2.20%) (10.90%)
Other, net 2.20% (0.10%) (0.50%)
Research and development credit (5.40%) (1.60%) (1.30%)
Other tax credits (0.10%)    
Nondeductible executive compensation 3.80%   1.00%
Other nontaxable or nondeductible items (0.60%)    
Changes in unrecognized tax benefits (0.40%)    
Effect of changes in valuation allowances   0.00% (0.20%)
Stock based compensation   (2.90%) 0.10%
Effective income tax rate 24.30% 20.10% 11.60%
v3.25.4
Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets:    
Inventory $ 3.1 $ 2.2
Compensation and employee benefits 10.1 12.3
Warranty reserves 2.0 2.2
Allowance for doubtful accounts and deferred revenue 5.4 2.8
Operating lease liabilities 12.4 11.0
Tax loss carryforwards 14.4 7.7
Tax credit carryforwards 6.5 3.6
Capitalized research and development costs 2.9 19.0
Goodwill and intangible assets 10.1 7.0
Other 6.8 2.5
Gross deferred tax assets 73.7 70.3
Less: valuation allowance (3.9) (3.3)
Total net deferred tax assets 69.8 67.0
Deferred tax liabilities:    
Operating lease assets 13.2 11.3
Fixed assets 7.2 9.2
Capitalized implementation costs 6.6 5.0
Total deferred tax liabilities 27.0 25.5
Net deferred tax assets $ 42.8 $ 41.5
v3.25.4
Income Taxes - Unrecognized Tax Benefits (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Unrecognized Tax Benefits [Roll Forward]    
Beginning balance $ 5.9 $ 4.1
Increases as a result of tax positions taken during a prior period 0.4 0.0
Increases as a result of tax positions taken during the current year 0.5 0.9
Increases relating to prior period tax positions of acquired entities 0.0 1.4
Decreases as a result of a lapse of the applicable statute of limitations (1.0) (0.5)
Increases as a result of foreign currency fluctuations 0.1 0.0
Ending balance $ 5.9 $ 5.9
v3.25.4
Income Taxes - Schedule of Income Taxes Paid (Details)
$ in Millions
12 Months Ended
Dec. 31, 2025
USD ($)
Income Tax Paid, by Individual Jurisdiction [Line Items]  
U.S. federal $ 2.5
U.S. state and local 2.0
Total U.S. 4.5
Total foreign 8.9
Total income taxes paid 13.4
BRAZIL  
Income Tax Paid, by Individual Jurisdiction [Line Items]  
Total foreign 0.9
CANADA  
Income Tax Paid, by Individual Jurisdiction [Line Items]  
Total foreign 0.7
NETHERLANDS  
Income Tax Paid, by Individual Jurisdiction [Line Items]  
Total foreign 0.7
FRANCE  
Income Tax Paid, by Individual Jurisdiction [Line Items]  
Total foreign 0.7
Foreign Tax Jurisdiction, Other  
Income Tax Paid, by Individual Jurisdiction [Line Items]  
Total foreign 3.7
GERMANY  
Income Tax Paid, by Individual Jurisdiction [Line Items]  
Total foreign $ 2.2
v3.25.4
Share-Based Compensation - Narrative (Details) - USD ($)
$ / shares in Units, $ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Total share-based compensation expense $ 10.4 $ 11.9 $ 11.6
Total excess tax benefit recognized for share-based compensation arrangements 0.2 3.1 $ 0.1
Weighted-average grant date fair value of stock options granted (in dollars per share)     $ 24.21
Total intrinsic value of stock options exercised 0.3 14.5 $ 5.9
Aggregate intrinsic value of options outstanding 1.0    
Aggregate intrinsic value of options exercisable $ 1.0    
Weighted-average remaining contractual life for options outstanding (in years) 4 years 6 months    
Weighted-average remaining contractual life for options exercisable (in years) 4 years 3 months 18 days    
Total share-based liabilities $ 0.6 $ 0.4  
Option      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
New stock option awards granted vest period 3 years    
Contractual term 10 years    
Unrecognized compensation cost for non-vested options $ 0.1    
Weighted-average period 2 months 12 days    
Option | Year One      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Vesting percentage of awards granted 33.33%    
Option | Year Two      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Vesting percentage of awards granted 33.33%    
Option | Year Three      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Vesting percentage of awards granted 33.33%    
Restricted Stock      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
New stock option awards granted vest period 3 years    
Granted (in dollars per share) $ 89.16 $ 110.16 $ 72.88
Unrecognized compensation cost for non-vested options $ 3.7    
Weighted-average period 1 year 9 months 18 days    
Required service period following grant date 6 months    
Vesting rights, required advance notice for resignation, period 6 months    
Total fair value of restricted shares vested $ 1.3 $ 1.6 $ 0.4
Vested (in shares) 16,097    
Performance Shares      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
New stock option awards granted vest period 3 years    
Granted (in dollars per share) $ 87.11 $ 108.97 $ 73.12
Unrecognized compensation cost for non-vested options $ 4.0    
Weighted-average period 1 year 8 months 12 days    
Percentage of maximum increase in number of shares participant receives based on achievement of performance goals 200.00%    
Potential lowest number of shares participant receives based on achievement of performance goals 0.00%    
Vested (in shares) 57,653    
Restricted Stock Units (RSUs)      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
New stock option awards granted vest period 3 years    
Granted (in dollars per share) $ 80.81    
Unrecognized compensation cost for non-vested options $ 3.1    
Weighted-average period 1 year 6 months    
Total fair value of restricted shares vested $ 3.1 $ 2.2 $ 3.0
Vested (in shares) 37,629    
The 2020 Plan      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Shares reserved for issuance (in shares) 1,563,640    
v3.25.4
Share-Based Compensation - Valuation Assumptions (Details) - Option
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]    
Expected volatility 35.00%  
Weighted-average expected volatility   35.00%
Expected dividend yield 1.60%  
Expected term, in years   5 years
Risk free interest rate 4.20%  
Weighted-average expected dividend yield    
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]    
Expected dividend yield   1.60%
v3.25.4
Share-Based Compensation - Activity for Stock Option Awards (Details)
$ / shares in Units, $ in Millions
12 Months Ended
Dec. 31, 2025
USD ($)
$ / shares
shares
Number of Shares  
Outstanding at beginning of year (in shares) | shares 302,404
Exercised (in shares) | shares (10,471)
Outstanding at end of year (in shares) | shares 291,933
Exercisable at end of year (in shares) | shares 273,531
Options expected to vest as of December 31, 2025 (in shares) | shares 18,402
Weighted-Average Exercise Price  
Outstanding at beginning of year (in dollars per share) | $ / shares $ 72.18
Exercised (in dollars per share) | $ / shares 55.28
Outstanding at end of year (in dollars per share) | $ / shares 72.78
Exercisable at end of year (in dollars per share) | $ / shares 72.78
Options expected to vest as of December 31, 2025 (in dollars per share) | $ / shares $ 72.88
Weighted-average remaining contractual life for options outstanding (in years) 4 years 6 months
Weighted-average remaining contractual life for options exercisable (in years) 4 years 3 months 18 days
Weighted-average remaining contractual life for options expected to vest (in years) 7 years 2 months 12 days
Aggregate intrinsic value of options outstanding | $ $ 1.0
Aggregate intrinsic value of options exercisable | $ 1.0
Aggregate intrinsic value, outstanding as of December 31, 2025 | $ $ 0.0
v3.25.4
Share-Based Compensation - Activity for Nonvested Share Awards (Details) - $ / shares
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Restricted Stock      
Number of Shares      
Nonvested at beginning of year (in shares) 86,205    
Granted (in shares) 41,066    
Vested (in shares) (16,097)    
Forfeited (in shares) (4,611)    
Nonvested at end of year (in shares) 106,563 86,205  
Weighted-Average Grant Date Fair Value      
Nonvested at beginning of year (in dollars per share) $ 80.18    
Granted (in dollars per share) 89.16 $ 110.16 $ 72.88
Vested (in dollars per share) 78.78    
Forfeitures (in dollars per share) 98.20    
Nonvested at end of year (in dollars per share) $ 83.07 $ 80.18  
Performance Shares      
Number of Shares      
Nonvested at beginning of year (in shares) 149,617    
Granted (in shares) 75,256    
Vested (in shares) (57,653)    
Forfeited (in shares) (11,337)    
Nonvested at end of year (in shares) 155,883 149,617  
Weighted-Average Grant Date Fair Value      
Nonvested at beginning of year (in dollars per share) $ 85.94    
Granted (in dollars per share) 87.11 $ 108.97 $ 73.12
Vested (in dollars per share) 78.29    
Forfeitures (in dollars per share) 93.32    
Nonvested at end of year (in dollars per share) $ 88.87 $ 85.94  
Restricted Stock Units (RSUs)      
Number of Shares      
Nonvested at beginning of year (in shares) 132,143    
Granted (in shares) 43,007    
Vested (in shares) (37,629)    
Forfeited (in shares) (11,399)    
Nonvested at end of year (in shares) 126,122 132,143  
Weighted-Average Grant Date Fair Value      
Nonvested at beginning of year (in dollars per share) $ 85.08    
Granted (in dollars per share) 80.81    
Vested (in dollars per share) 81.19    
Forfeitures (in dollars per share) 91.14    
Nonvested at end of year (in dollars per share) $ 84.24 $ 85.08  
v3.25.4
Income Attributable to Tennant Company Per Share - Computations of Basic and Diluted Earnings (Loss) Attributable to Tennant Company Per Share (Details) - USD ($)
$ / shares in Units, $ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Numerator:      
Net income $ 43.8 $ 83.7 $ 109.5
Denominator:      
Basic - weighted average shares outstanding (in shares) 18,366,216 18,786,871 18,509,523
Effect of dilutive securities 213,491 309,267 274,110
Diluted - weighted average shares outstanding (in shares) 18,579,707 19,096,138 18,783,633
Basic earnings per share (in dollars per share) $ 2.38 $ 4.46 $ 5.92
Diluted earnings per share (in dollars per share) $ 2.36 $ 4.38 $ 5.83
v3.25.4
Income Attributable to Tennant Company Per Share - Narrative (Details) - shares
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Earnings Per Share [Abstract]      
Antidilutive securities (in shares) 150,421 97,463 249,690
v3.25.4
Segment Reporting - Narrative (Details)
12 Months Ended
Dec. 31, 2025
segment
Segment Reporting [Abstract]  
Number of operating segments 4
Number of reportable segments 1
v3.25.4
Segment Reporting - Net Sales and Long-lived Assets by Geographic Area (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Net sales $ 1,203.5 $ 1,286.7 $ 1,243.6
Long-lived assets 566.2 512.5 460.1
UNITED STATES      
Segment Reporting Information [Line Items]      
Net sales 670.9 766.9 726.8
Long-lived assets 172.9 166.6 104.2
Other Americas      
Segment Reporting Information [Line Items]      
Net sales 121.1 121.6 113.5
Long-lived assets 40.3 29.0 31.9
Americas      
Segment Reporting Information [Line Items]      
Net sales 792.0 888.5 840.3
Long-lived assets 213.2 195.6 136.1
Italy      
Segment Reporting Information [Line Items]      
Long-lived assets 238.9 193.7 218.0
Other Europe, Middle East, Africa      
Segment Reporting Information [Line Items]      
Long-lived assets 82.8 93.6 75.6
Europe, Middle East and Africa (EMEA)      
Segment Reporting Information [Line Items]      
Net sales 334.6 318.5 314.4
Long-lived assets 321.7 287.3 293.6
Asia Pacific (APAC)      
Segment Reporting Information [Line Items]      
Net sales 76.9 79.7 88.9
Long-lived assets $ 31.3 $ 29.6 $ 30.4
v3.25.4
Schedule II - Valuation and Qualifying Accounts (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Allowance for doubtful accounts:      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at beginning of year $ 7.1 $ 7.2 $ 6.1
Charged to costs and expenses 7.3 2.6 4.4
Charged to other accounts 0.6 0.0 0.0
Deduction (4.6) (2.7) (3.3)
Balance at end of year 10.4 7.1 7.2
Sales returns reserve:      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at beginning of year 2.2 1.9 1.4
Charged to costs and expenses 0.3 1.1 2.0
Deduction (0.9) (0.8) (1.5)
Balance at end of year 1.6 2.2 1.9
Allowance for excess and obsolete inventories:      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at beginning of year 15.2 17.2 14.2
Charged to costs and expenses 6.8 2.8 8.9
Charged to other accounts 1.1 0.1 0.1
Deduction (3.3) (4.9) (6.0)
Balance at end of year 19.8 15.2 17.2
Valuation allowance for deferred tax assets:      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at beginning of year 3.3 3.2 3.3
Charged to costs and expenses 0.5 (0.3) (0.3)
Charged to other accounts 0.1 0.4 0.2
Balance at end of year 3.9 3.3 3.2
Warranty reserve:      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at beginning of year 10.5 11.2 10.9
Charged to costs and expenses 5.5 9.5 12.2
Charged to other accounts 0.2 (0.1) (0.1)
Deduction (6.5) (10.1) (11.8)
Balance at end of year $ 9.7 $ 10.5 $ 11.2