Condensed Financial Statements | 23. Separate Financial Information of Guarantor Subsidiaries The following condensed consolidated guarantor financial information is presented to comply with the requirements of Rule 3-10 of Regulation S-X. On April 18, 2017 , we issued and sold $300,000 in aggregate principal amount of our 5.625% Senior Notes due 2025 (the “Notes”), pursuant to an Indenture, dated as of April 18, 2017, among the company, the Guarantors (as defined below), and Wells Fargo Bank, National Association, a national banking association, as trustee. The Notes are unconditionally and jointly and severally guaranteed by Tennant Coatings, Inc. and Tennant Sales and Service Company (collectively, the “Guarantors” or "Guarantor Subsidiaries"), which are wholly-owned subsidiaries of the company. The Notes and the guarantees constitute senior unsecured obligations of the company and the Guarantors, respectively. The Notes and the guarantees, respectively, are: (a) equal in right of payment with all of the company’s and the Guarantors’ senior debt, without giving effect to collateral arrangements; (b) senior in right of payment to all of the company’s and the Guarantors’ future subordinated debt, if any; (c) effectively subordinated in right of payment to all of the company’s and the Guarantors’ debt and obligations that are secured, including borrowings under the company’s senior secured credit facilities for so long as the senior secured credit facilities are secured, to the extent of the value of the assets securing such liens; and (d) structurally subordinated in right of payment to all liabilities (including trade payables) of the company’s and the Guarantors’ subsidiaries that do not guarantee the Notes. The following condensed consolidated financial information presents the Condensed Consolidated Statements of Earnings, Comprehensive Income and Cash Flows for each of the years in the three year period ended December 31, 2018 , and the related Condensed Consolidated Balance Sheets as of December 31, 2018 and 2017 , of Tennant Company ("Parent"), the Guarantor Subsidiaries on a combined basis, the Non-Guarantor Subsidiaries on a combined basis and elimination entries necessary to consolidate the Parent with the Guarantor and Non-Guarantor Subsidiaries. The following condensed consolidated financial statements should be read in conjunction with the consolidated financial statements of the company and notes thereto of which this note is an integral part. Condensed Consolidated Statement of Earnings For the year ended December 31, 2018 (in thousands) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Tennant Company Net Sales $ 494,341 $ 634,341 $ 570,627 $ (575,798 ) $ 1,123,511 Cost of Sales 336,398 533,800 383,010 (574,730 ) 678,478 Gross Profit 157,943 100,541 187,617 (1,068 ) 445,033 Operating Expense: Research and Development Expense 24,455 1,090 5,194 — 30,739 Selling and Administrative Expense 116,528 76,623 161,911 1,254 356,316 Total Operating Expense 140,983 77,713 167,105 1,254 387,055 Profit (Loss) from Operations 16,960 22,828 20,512 (2,322 ) 57,978 Other Income (Expense): Equity in Earnings of Affiliates 27,409 2,249 5,374 (35,032 ) — Interest (Expense) Income, Net (20,466 ) — 196 (37 ) (20,307 ) Intercompany Interest Income (Expense) 14,597 (5,760 ) (8,837 ) — — Net Foreign Currency Transaction Losses (370 ) (21 ) (709 ) — (1,100 ) Other (Expense) Income, Net (2,288 ) (2,434 ) 2,862 1,131 (729 ) Total Other Income (Expense), Net 18,882 (5,966 ) (1,114 ) (33,938 ) (22,136 ) Profit (Loss) Before Income Taxes 35,842 16,862 19,398 (36,260 ) 35,842 Income Tax Expense (Benefit) 2,304 4,022 388 (4,410 ) 2,304 Net Earnings (Loss) Including Noncontrolling Interest 33,538 12,840 19,010 (31,850 ) 33,538 Net Earnings Attributable to Noncontrolling Interest 126 — 126 (126 ) 126 Net Earnings (Loss) Attributable to Tennant Company $ 33,412 $ 12,840 $ 18,884 $ (31,724 ) $ 33,412 Condensed Consolidated Statement of Earnings For the year ended December 31, 2017 (in thousands) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Tennant Company Net Sales $ 454,703 $ 594,405 $ 471,559 $ (517,601 ) $ 1,003,066 Cost of Sales 311,897 488,972 321,759 (519,375 ) 603,253 Gross Profit 142,806 105,433 149,800 1,774 399,813 Operating Expense: Research and Development Expense 27,219 315 4,479 — 32,013 Selling and Administrative Expense 110,414 78,516 145,852 — 334,782 Total Operating Expense 137,633 78,831 150,331 — 366,795 Profit (Loss) from Operations 5,173 26,602 (531 ) 1,774 33,018 Other Income (Expense): Equity in Earnings of Affiliates 12,754 2,004 28,855 (43,613 ) — Interest Expense, Net (22,659 ) — (299 ) (31 ) (22,989 ) Intercompany Interest Income (Expense) 12,519 (5,776 ) (6,743 ) — — Net Foreign Currency Transaction Gains (Losses) 857 — (4,244 ) — (3,387 ) Other (Expense) Income, Net (9,936 ) (736 ) 2,841 (103 ) (7,934 ) Total Other (Expense) Income, Net (6,465 ) (4,508 ) 20,410 (43,747 ) (34,310 ) (Loss) Profit Before Income Taxes (1,292 ) 22,094 19,879 (41,973 ) (1,292 ) Income Tax Expense (Benefit) 4,913 8,070 (98 ) (7,972 ) 4,913 Net (Loss) Earnings Including Noncontrolling Interest $ (6,205 ) $ 14,024 $ 19,977 $ (34,001 ) $ (6,205 ) Net Loss Attributable to Noncontrolling Interest $ (10 ) $ — $ (10 ) $ 10 $ (10 ) Net (Loss) Earnings Attributable to Tennant Company $ (6,195 ) $ 14,024 $ 19,987 $ (34,011 ) $ (6,195 ) Condensed Consolidated Statement of Earnings For the year ended December 31, 2016 (in thousands) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Tennant Company Net Sales $ 455,375 $ 587,815 $ 290,349 $ (524,967 ) $ 808,572 Cost of Sales 299,459 483,075 199,336 (524,893 ) 456,977 Gross Profit 155,916 104,740 91,013 (74 ) 351,595 Operating Expense: Research and Development Expense 32,378 429 1,931 — 34,738 Selling and Administrative Expense 95,340 74,643 78,609 — 248,592 Total Operating Expense 127,718 75,072 80,540 — 283,330 Profit from Operations 28,198 29,668 10,473 (74 ) 68,265 Other Income (Expense): Equity in Earnings of Affiliates 34,068 2,192 — (36,260 ) — Interest (Expense) Income, Net (1,204 ) — 255 — (949 ) Intercompany Interest Income (Expense) 7,157 (5,570 ) (1,587 ) — — Net Foreign Currency Transaction Gains (Losses) 648 (652 ) (388 ) — (392 ) Other (Expense) Income, Net (2,376 ) (573 ) 2,516 — (433 ) Total Other Income (Expense), Net 38,293 (4,603 ) 796 (36,260 ) (1,774 ) Profit Before Income Taxes 66,491 25,065 11,269 (36,334 ) 66,491 Income Tax Expense 19,877 9,443 2,427 (11,870 ) 19,877 Net Earnings (Loss) Attributable to Tennant Company $ 46,614 $ 15,622 $ 8,842 $ (24,464 ) $ 46,614 Condensed Consolidated Statement of Comprehensive Income For the year ended December 31, 2018 (in thousands) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Tennant Company Net Earnings (Loss) Including Noncontrolling Interest $ 33,538 $ 12,840 $ 19,010 $ (31,850 ) $ 33,538 Other Comprehensive Income (Loss): Foreign currency translation adjustments (16,221 ) (961 ) (21,422 ) 22,383 (16,221 ) Pension and retiree medical benefits 1,745 — 1,197 (1,197 ) 1,745 Cash flow hedge 1,341 — — — 1,341 Income Taxes: Foreign currency translation adjustments 168 — 168 (168 ) 168 Pension and retiree medical benefits (467 ) — (205 ) 205 (467 ) Cash flow hedge (1,437 ) — — — (1,437 ) Total Other Comprehensive (Loss) Income, net of tax (14,871 ) (961 ) (20,262 ) 21,223 (14,871 ) Total Comprehensive Income (Loss) Including Noncontrolling Interest 18,667 11,879 (1,252 ) (10,627 ) 18,667 Comprehensive Income Attributable to Noncontrolling Interest 126 — 126 (126 ) 126 Comprehensive Income (Loss) Attributable to Tennant Company $ 18,541 $ 11,879 $ (1,378 ) $ (10,501 ) $ 18,541 Condensed Consolidated Statement of Comprehensive Income For the year ended December 31, 2017 (in thousands) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Tennant Company Net (Loss) Earnings $ (6,205 ) $ 14,024 $ 19,977 $ (34,001 ) $ (6,205 ) Other Comprehensive Income (Loss): Foreign currency translation adjustments 28,356 1,215 2,960 (4,175 ) 28,356 Pension and retiree medical benefits 5,868 — 538 (538 ) 5,868 Cash flow hedge (7,731 ) — — — (7,731 ) Income Taxes: Foreign currency translation adjustments 310 — 310 (310 ) 310 Pension and retiree medical benefits (2,087 ) — (99 ) 99 (2,087 ) Cash flow hedge 2,884 — — — 2,884 Total Other Comprehensive Income (Loss), net of tax 27,600 1,215 3,709 (4,924 ) 27,600 Total Comprehensive Income Including Noncontrolling Interest 21,395 15,239 23,686 (38,925 ) 21,395 Comprehensive Loss Attributable to Noncontrolling Interest (10 ) — (10 ) 10 (10 ) Comprehensive Income $ 21,405 $ 15,239 $ 23,696 $ (38,935 ) $ 21,405 Condensed Consolidated Statement of Comprehensive Income For the year ended December 31, 2016 (in thousands) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Tennant Company Net Earnings $ 46,614 $ 15,622 $ 8,842 $ (24,464 ) $ 46,614 Other Comprehensive (Loss) Income: Foreign currency translation adjustments 109 270 3,534 (3,804 ) 109 Pension and retiree medical benefits (2,248 ) — (1,691 ) 1,691 (2,248 ) Cash flow hedge (305 ) — — — (305 ) Income Taxes: Foreign currency translation adjustments 32 — 32 (32 ) 32 Pension and retiree medical benefits 504 — 296 (296 ) 504 Cash flow hedge 114 — — — 114 Total Other Comprehensive (Loss) Earnings, net of tax (1,794 ) 270 2,171 (2,441 ) (1,794 ) Comprehensive Income (Loss) $ 44,820 $ 15,892 $ 11,013 $ (26,905 ) $ 44,820 Condensed Consolidated Balance Sheet As of December 31, 2018 (in thousands) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Tennant Company ASSETS Current Assets: Cash and Cash Equivalents $ 24,779 $ 1,610 $ 59,220 $ — $ 85,609 Restricted Cash — — 525 — 525 Net Receivables 866 94,763 120,541 — 216,170 Intercompany Receivables 29,976 148,961 — (178,937 ) — Inventories 37,154 13,381 94,680 (10,082 ) 135,133 Prepaid Expenses 12,565 782 9,282 (488 ) 22,141 Other Current Assets 4,935 396 3,735 — 9,066 Total Current Assets 110,275 259,893 287,983 (189,507 ) 468,644 Property, Plant and Equipment 229,826 12,677 144,138 — 386,641 Accumulated Depreciation (159,344 ) (6,913 ) (56,937 ) — (223,194 ) Property, Plant and Equipment, Net 70,482 5,764 87,201 — 163,447 Deferred Income Taxes 4,035 3,072 8,382 — 15,489 Investment in Affiliates 420,897 12,142 20,768 (453,807 ) — Intercompany Loans 301,555 — 3,205 (304,760 ) — Goodwill 12,870 1,726 168,075 — 182,671 Intangible Assets, Net 4,012 2,684 139,850 — 146,546 Other Assets 6,987 (2 ) 8,762 — 15,747 Total Assets $ 931,113 $ 285,279 $ 724,226 $ (948,074 ) $ 992,544 LIABILITIES AND TOTAL EQUITY Current Liabilities: Current Portion of Long-Term Debt $ 21,816 $ — $ 5,189 $ — $ 27,005 Accounts Payable 40,991 4,982 52,425 — 98,398 Intercompany Payables 149,460 — 29,477 (178,937 ) — Employee Compensation and Benefits 13,947 16,890 18,616 — 49,453 Income Taxes Payable 806 — 1,984 (667 ) 2,123 Other Current Liabilities 22,387 17,939 31,390 179 71,895 Total Current Liabilities 249,407 39,811 139,081 (179,425 ) 248,874 Long-Term Liabilities: Long-Term Debt 326,460 — 1,600 — 328,060 Intercompany Loans 3,205 128,000 173,555 (304,760 ) — Employee-Related Benefits 11,041 2,015 8,054 — 21,110 Deferred Income Taxes — — 46,018 — 46,018 Other Liabilities 24,648 2,899 4,583 — 32,130 Total Long-Term Liabilities 365,354 132,914 233,810 (304,760 ) 427,318 Total Liabilities 614,761 172,725 372,891 (484,185 ) 676,192 Equity: Common Stock 6,797 — 11,131 (11,131 ) 6,797 Additional Paid-In Capital 28,550 77,551 399,459 (477,010 ) 28,550 Retained Earnings 316,269 36,633 (2,532 ) (34,101 ) 316,269 Accumulated Other Comprehensive Loss (37,194 ) (1,630 ) (58,653 ) 60,283 (37,194 ) Total Tennant Company Shareholders’ Equity 314,422 112,554 349,405 (461,959 ) 314,422 Noncontrolling Interest 1,930 — 1,930 (1,930 ) 1,930 Total Equity 316,352 112,554 351,335 (463,889 ) 316,352 Total Liabilities and Total Equity $ 931,113 $ 285,279 $ 724,226 $ (948,074 ) $ 992,544 Condensed Consolidated Balance Sheet As of December 31, 2017 (in thousands) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Tennant Company ASSETS Current Assets: Cash and Cash Equivalents $ 18,469 $ 507 $ 39,422 $ — $ 58,398 Restricted Cash — — 653 — 653 Net Receivables 683 88,629 120,204 — 209,516 Intercompany Receivables 53,444 133,778 — (187,222 ) — Inventories 29,450 12,695 94,542 (8,993 ) 127,694 Prepaid Expenses 8,774 1,172 9,405 — 19,351 Other Current Assets 4,030 — 3,473 — 7,503 Total Current Assets 114,850 236,781 267,699 (196,215 ) 423,115 Property, Plant and Equipment 225,064 12,155 145,549 — 382,768 Accumulated Depreciation (146,320 ) (6,333 ) (50,097 ) — (202,750 ) Property, Plant and Equipment, Net 78,744 5,822 95,452 — 180,018 Deferred Income Taxes 1,308 2,669 7,157 — 11,134 Investment in Affiliates 392,486 11,273 20,811 (424,570 ) — Intercompany Loans 304,822 — 4,983 (309,805 ) — Goodwill 12,869 1,739 171,436 — 186,044 Intangible Assets, Net 2,105 2,898 167,344 — 172,347 Other Assets 10,363 — 10,956 — 21,319 Total Assets $ 917,547 $ 261,182 $ 745,838 $ (930,590 ) $ 993,977 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Current Portion of Long-Term Debt $ 29,413 $ — $ 1,470 $ — $ 30,883 Accounts Payable 39,927 3,018 53,137 — 96,082 Intercompany Payables 133,778 1,963 51,481 (187,222 ) — Employee Compensation and Benefits 8,311 10,355 18,591 — 37,257 Income Taxes Payable 366 — 2,472 — 2,838 Other Current Liabilities 20,183 15,760 33,504 — 69,447 Total Current Liabilities 231,978 31,096 160,655 (187,222 ) 236,507 Long-Term Liabilities: Long-Term Debt 344,147 — 1,809 — 345,956 Intercompany Loans — 128,000 181,805 (309,805 ) — Employee-Related Benefits 11,160 3,992 8,715 — 23,867 Deferred Income Taxes — — 53,225 — 53,225 Other Liabilities 31,788 2,483 1,677 — 35,948 Total Long-Term Liabilities 387,095 134,475 247,231 (309,805 ) 458,996 Total Liabilities 619,073 165,571 407,886 (497,027 ) 695,503 Shareholders' Equity: Common Stock 6,705 — 11,131 (11,131 ) 6,705 Additional Paid-In Capital 15,089 72,483 384,460 (456,943 ) 15,089 Retained Earnings 297,032 23,797 (21,219 ) (2,578 ) 297,032 Accumulated Other Comprehensive Loss (22,323 ) (669 ) (38,391 ) 39,060 (22,323 ) Total Tennant Company Shareholders’ Equity 296,503 95,611 335,981 (431,592 ) 296,503 Noncontrolling Interest 1,971 — 1,971 (1,971 ) 1,971 Total Equity 298,474 95,611 337,952 (433,563 ) 298,474 Total Liabilities and Total Equity $ 917,547 $ 261,182 $ 745,838 $ (930,590 ) $ 993,977 Condensed Consolidated Statement of Cash Flows For the year ended December 31, 2018 (in thousands) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Tennant Company OPERATING ACTIVITIES Net Cash Provided by Operating Activities $ 68,082 $ 1,202 $ 10,888 $ (202 ) $ 79,970 INVESTING ACTIVITIES Purchases of Property, Plant and Equipment (6,832 ) (99 ) (11,849 ) — (18,780 ) Proceeds from Disposals of Property, Plant and Equipment 21 — 91 — 112 Proceeds from Principal Payments Received on Long-Term Note Receivable — — 1,416 — 1,416 Proceeds from Sale of Business — — 4,000 — 4,000 Purchases of Intangible Asset (2,500 ) — (275 ) — (2,775 ) Change in Investments in Subsidiaries (15,622 ) — — 15,622 — Loan Payments Received by Parent from Subsidiary 1,218 — — (1,218 ) — Loan Payments Received by Subsidiary from Parent — — 1,778 (1,778 ) — Net Cash Used in Investing Activities (23,715 ) (99 ) (4,839 ) 12,626 (16,027 ) FINANCING ACTIVITIES Proceeds from Short-Term Debt — — 3,926 — 3,926 Loan Repayments made to Parent from Subsidiary — — (1,218 ) 1,218 — Loan Repayments made to Subsidiary from Parent (1,778 ) — — 1,778 — Change in Subsidiary Equity — — 15,622 (15,622 ) — Proceeds from Issuance of Long-Term Debt 11,000 — — — 11,000 Payments of Long-Term Debt (38,000 ) — (255 ) — (38,255 ) Change in Capital Lease Obligations — — 14 — 14 Proceeds from Issuances of Common Stock 5,880 — — — 5,880 Dividends Paid (15,343 ) — (202 ) 202 (15,343 ) Net Cash (Used in) Provided by Financing Activities (38,241 ) — 17,887 (12,424 ) (32,778 ) Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash 184 — (4,266 ) — (4,082 ) NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 6,310 1,103 19,670 — 27,083 Cash, Cash Equivalents and Restricted Cash at Beginning of Year 18,469 507 40,075 — 59,051 CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF YEAR $ 24,779 $ 1,610 $ 59,745 $ — $ 86,134 Condensed Consolidated Statement of Cash Flows For the year ended December 31, 2017 (in thousands) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Tennant Company OPERATING ACTIVITIES Net Cash Provided by Operating Activities $ 26,992 $ 280 $ 27,711 $ (809 ) $ 54,174 INVESTING ACTIVITIES Purchases of Property, Plant and Equipment (9,558 ) — (10,879 ) — (20,437 ) Proceeds from Disposals of Property, Plant and Equipment 23 1 2,487 — 2,511 Proceeds from Principal Payments received on Long-Term Note Receivable — — 667 — 667 Acquisition of Businesses, Net of Cash Acquired (304 ) — (353,769 ) — (354,073 ) Issuance of Long-Term Note Receivable — — (1,500 ) — (1,500 ) Purchase of Intangible Asset (2,500 ) — — — (2,500 ) Change in Investments in Subsidiaries (199,028 ) — — 199,028 — Loan Borrowings (Payments) from Subsidiaries (159,780 ) — (4,983 ) 164,763 — Net Cash (Used in) Provided by Investing Activities (371,147 ) 1 (367,977 ) 363,791 (375,332 ) FINANCING ACTIVITIES Proceeds from Short-Term Debt 303,000 — — — 303,000 Repayments of Short-Term Debt (303,000 ) — — — (303,000 ) Loan Borrowings (Payments) from Parent 4,983 — 159,780 (164,763 ) — Change in Subsidiary Equity — — 199,028 (199,028 ) — Payments of Long-Term Debt (96,142 ) — (106 ) — (96,248 ) Proceeds from Issuance of Long-Term Debt 440,000 — — — 440,000 Payments of Debt Issuance Costs (16,482 ) — — — (16,482 ) Change in Capital Lease Obligations — — 311 — 311 Proceeds from Issuances of Common Stock 6,875 — — — 6,875 Purchase of Noncontrolling Owner Interest — — (30 ) — (30 ) Dividends Paid (14,953 ) — (809 ) 809 (14,953 ) Net Cash Provided by Financing Activities 324,281 — 358,174 (362,982 ) 319,473 Effect of Exchange Rate Changes on Cash and Cash Equivalents (141 ) — 2,327 — 2,186 NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (20,015 ) 281 20,235 — 501 Cash, Cash Equivalents and Restricted Cash at Beginning of Year 38,484 226 19,840 — 58,550 CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF YEAR $ 18,469 $ 507 $ 40,075 $ — $ 59,051 Condensed Consolidated Statement of Cash Flows For the year ended December 31, 2016 (in thousands) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Tennant Company OPERATING ACTIVITIES Net Cash Provided by Operating Activities $ 44,147 $ 239 $ 14,090 $ (598 ) $ 57,878 INVESTING ACTIVITIES Purchases of Property, Plant and Equipment (21,507 ) (13 ) (5,006 ) — (26,526 ) Proceeds from Disposals of Property, Plant and Equipment 377 — 238 — 615 Acquisition of Businesses, Net of Cash Acquired — (11,539 ) (1,394 ) — (12,933 ) Issuance of Long-Term Note Receivable — — (2,000 ) — (2,000 ) Loan Borrowings (Payments) from Subsidiaries 8,690 — — (8,690 ) — Proceeds from Sale of Business — — 285 — 285 Change in Investments in Subsidiaries (19,594 ) — — 19,594 — Net Cash Used in Investing Activities (32,034 ) (11,552 ) (7,877 ) 10,904 (40,559 ) FINANCING ACTIVITIES Loan (Payments) Borrowings from Parent — 7,969 (16,659 ) 8,690 — Change in Subsidiary Entity — 3,570 16,024 (19,594 ) — Payments of Long-Term Debt (3,429 ) — (31 ) — (3,460 ) Proceeds from Issuance of Long-Term Debt 15,000 — — — 15,000 Purchases of Common Stock (12,762 ) — — — (12,762 ) Proceeds from Issuances of Common Stock 5,271 — — — 5,271 Excess Tax Benefit on Stock Plans 686 — — — 686 Dividends Paid (14,293 ) — (598 ) 598 (14,293 ) Net Cash (Used in) Provided by Financing Activities (9,527 ) 11,539 (1,264 ) (10,306 ) (9,558 ) Effect of Exchange Rate Changes on Cash and Cash Equivalents 63 — (1,213 ) — (1,150 ) NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 2,649 226 3,736 — 6,611 Cash, Cash Equivalents and Restricted Cash at Beginning of Year 35,835 — 16,104 — 51,939 CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF YEAR $ 38,484 $ 226 $ 19,840 $ — $ 58,550 |