14 unchanged sentences
The Company entered into an aggregate $120 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% over the term of the agreements, which mature on December 1, 2026.
+Added: On October 14, 2025, the Company extended its $120 million notional amount of fixed interest rate swaps to October 1, 2029 that exchange a variable rate of interest for a fixed rate of interest of 3.443%.
Assuming a hypothetical 50 basis point increase in short-term interest rates, with all other variables remaining constant, interest expense, net would have increased by approximately $0.5 million in 2025.
11 unchanged sentences
The gains and losses on these contracts generally approximate changes in the value of the related assets, liabilities or forecasted transactions.
−Removed: Some of the derivative instruments we enter into do not meet the criteria for cash flow hedge accounting treatment;
−Removed: therefore, changes in fair value are recorded in foreign currency transaction losses on our consolidated statements of income.
We use foreign currency exchange rate derivatives to hedge our exposure to fluctuations in exchange rates for anticipated intercompany cash transactions between the Company and its subsidiaries.
5 unchanged sentences
As of December 31, 2025, the aggregated scheduled interest payments over the course of the loan and related swaps amounted to €3.0 million.
−Removed: The scheduled maturity and principal payment of the loan and related interest payments of €80.3 million are due in April 2027.
+Added: The swaps are scheduled to mature in April 2027.
Based on the fair value hedges outstanding as of December 31, 2025, a 10% appreciation of the U.S.
1 unchanged sentence
On April 5, 2022, we entered into Euro to U.S.
−Removed: dollar foreign exchange cross-currency swaps to hedge our exposure to adverse foreign currency exchange rate movements between Tennant Company and a wholly owned European subsidiary.
−Removed: 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 subsidiary against the risk of changes in the Euro to U.S.
+Added: 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.
+Added: 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.
9 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.