10-Q Filing

NACCO INDUSTRIES INC CIK: 789933 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0000789933-22-000035`
Period End Date	20220331
Filing Date	20220504
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	nacco-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 44 Cash Flow Statement 30 Stockholders Equity 20 Comprehensive Income 10

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$81.62M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$86.00M	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$25.67M	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$27.23M	USD	Point-in-time
Accounts receivable from affiliates	`DueFromAffiliates`	$5.80M	USD	Point-in-time
Accounts receivable from affiliates	`DueFromAffiliates`	$5.61M	USD	Point-in-time
Inventories	`InventoryNet`	$55.97M	USD	Point-in-time
Inventories	`InventoryNet`	$54.09M	USD	Point-in-time
Refundable federal income taxes	`IncomeTaxesReceivable`	$12.54M	USD	Point-in-time
Refundable federal income taxes	`IncomeTaxesReceivable`	$15.05M	USD	Point-in-time
Prepaid insurance	`PrepaidInsurance`	$11.28M	USD	Point-in-time
Prepaid insurance	`PrepaidInsurance`	$2.02M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$12.21M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$14.62M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$206.65M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$203.05M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$193.17M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$196.46M	USD	Point-in-time
Intangibles, net	`FiniteLivedIntangibleAssetsNet`	$31.77M	USD	Point-in-time
Intangibles, net	`FiniteLivedIntangibleAssetsNet`	$30.93M	USD	Point-in-time
Investments in unconsolidated subsidiaries	`EquityMethodInvestments`	$19.09M	USD	Point-in-time
Investments in unconsolidated subsidiaries	`EquityMethodInvestments`	$18.45M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$8.91M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$8.58M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$51.23M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$51.93M	USD	Point-in-time
Total assets	`Assets`	$513.01M	USD	Point-in-time
Total assets	`Assets`	$507.22M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.04M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$12.21M	USD	Point-in-time
Accounts payable to affiliates	`DueToAffiliateCurrentAndNoncurrent`	$741.00K	USD	Point-in-time
Accounts payable to affiliates	`DueToAffiliateCurrentAndNoncurrent`	$909.00K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$2.96M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$2.53M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationCurrent`	$1.82M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationCurrent`	$1.82M	USD	Point-in-time
Accrued payroll	`AccruedSalariesCurrent`	$16.34M	USD	Point-in-time
Accrued payroll	`AccruedSalariesCurrent`	$8.04M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$2.99M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$4.08M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$8.30M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$8.66M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$46.02M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$36.42M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$18.18M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$22.57M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$9.73M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$9.48M	USD	Point-in-time
Asset retirement obligations	`MineReclamationAndClosingLiabilityNoncurrent`	$42.28M	USD	Point-in-time
Asset retirement obligations	`MineReclamationAndClosingLiabilityNoncurrent`	$42.13M	USD	Point-in-time
Pension and other postretirement obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$6.61M	USD	Point-in-time
Pension and other postretirement obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$6.00M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$14.30M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$14.79M	USD	Point-in-time
Liability for uncertain tax positions	`LiabilityForUncertainTaxPositionsNoncurrent`	$10.11M	USD	Point-in-time
Liability for uncertain tax positions	`LiabilityForUncertainTaxPositionsNoncurrent`	$10.11M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$7.34M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$7.53M	USD	Point-in-time
Total liabilities	`Liabilities`	$155.10M	USD	Point-in-time
Total liabilities	`Liabilities`	$148.51M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$17.31M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$16.33M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$336.78M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$347.92M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.06M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.18M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$300.62M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$309.37M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$352.12M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$364.49M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$513.01M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$507.22M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$55.02M	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$45.10M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$39.18M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$37.41M	USD	1 Quarter
Gross profit	`GrossProfit`	$15.85M	USD	1 Quarter
Gross profit	`GrossProfit`	$7.69M	USD	1 Quarter
Earnings of unconsolidated operations	`EarningsOfUnconsolidatedMines`	$15.34M	USD	1 Quarter
Earnings of unconsolidated operations	`EarningsOfUnconsolidatedMines`	$14.59M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$14.78M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$13.76M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$847.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$982.00K	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets1`	$41.00K	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets1`	$136.00K	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$14.70M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$15.49M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$14.94M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$8.33M	USD	1 Quarter
Interest expense	`InterestExpense`	$356.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$513.00K	USD	1 Quarter
Interest income	`InvestmentIncomeNonoperating`	$120.00K	USD	1 Quarter
Interest income	`InvestmentIncomeNonoperating`	$145.00K	USD	1 Quarter
Closed mine obligations	`NonoperatingIncomeExpenseClosedMineObligations`	$380.00K	USD	1 Quarter
Closed mine obligations	`NonoperatingIncomeExpenseClosedMineObligations`	$383.00K	USD	1 Quarter
Gain on equity securities	`EquitySecuritiesFvNiRealizedGainLoss`	$518.00K	USD	1 Quarter
Gain on equity securities	`EquitySecuritiesFvNiRealizedGainLoss`	$823.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$230.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$130.00K	USD	1 Quarter
Other (income) expense	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Other (income) expense	`NonoperatingIncomeExpense`	$334.00K	USD	1 Quarter
Income before income tax provision (benefit)	`IncomeLossAttributableToParent`	$8.66M	USD	1 Quarter
Income before income tax provision (benefit)	`IncomeLossAttributableToParent`	$14.94M	USD	1 Quarter
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$-297.00K	USD	1 Quarter
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$2.36M	USD	1 Quarter
Net income	`NetIncomeLoss`	$12.58M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.96M	USD	1 Quarter
Basic earnings per share (in dollars per share)	`EarningsPerShareBasic`	$1.26	USD	1 Quarter
Basic earnings per share (in dollars per share)	`EarningsPerShareBasic`	$1.73	USD	1 Quarter
Diluted earnings per share (in dollars per share)	`EarningsPerShareDiluted`	$1.25	USD	1 Quarter
Diluted earnings per share (in dollars per share)	`EarningsPerShareDiluted`	$1.72	USD	1 Quarter
Basic weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.10M	shares	1 Quarter
Basic weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.25M	shares	1 Quarter
Diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.14M	shares	1 Quarter
Diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.32M	shares	1 Quarter

Cash Flow Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.07M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-910.00K	USD	1 Quarter
Expenditures for property, plant and equipment and acquisition of mineral interests	`PaymentsToAcquirePropertyPlantAndEquipmentAndMineralRights`	$4.88M	USD	1 Quarter
Expenditures for property, plant and equipment and acquisition of mineral interests	`PaymentsToAcquirePropertyPlantAndEquipmentAndMineralRights`	$4.65M	USD	1 Quarter
Proceeds from the sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$135.00K	USD	1 Quarter
Proceeds from the sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$44.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$15.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$15.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.85M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.53M	USD	1 Quarter
Additions to long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$3.35M	USD	1 Quarter
Additions to long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$170.00K	USD	1 Quarter
Reductions of long-term debt	`RepaymentsOfLongTermDebt`	$2.69M	USD	1 Quarter
Reductions of long-term debt	`RepaymentsOfLongTermDebt`	$357.00K	USD	1 Quarter
Net additions (reductions) to revolving credit agreements	`ProceedsFromRepaymentsOfLinesOfCredit`	$2.00M	USD	1 Quarter
Net additions (reductions) to revolving credit agreements	`ProceedsFromRepaymentsOfLinesOfCredit`	$-2.00M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividends`	$1.37M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividends`	$1.45M	USD	1 Quarter
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.21M	USD	1 Quarter
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.56M	USD	1 Quarter
Total decrease for the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.38M	USD	1 Quarter
Total decrease for the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-9.32M	USD	1 Quarter
Balance at the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$86.00M	USD	Point-in-time
Balance at the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$79.13M	USD	Point-in-time
Balance at the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$88.45M	USD	Point-in-time
Balance at the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$81.62M	USD	Point-in-time
Balance at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$86.00M	USD	Point-in-time
Balance at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$79.13M	USD	Point-in-time
Balance at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$88.45M	USD	Point-in-time
Balance at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$81.62M	USD	Point-in-time

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Cash dividends on common stock (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.20	USD	1 Quarter
Cash dividends on common stock (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.19	USD	1 Quarter
Balance, beginning of period	`StockholdersEquity`	$300.62M	USD	Point-in-time
Balance, beginning of period	`StockholdersEquity`	$309.37M	USD	Point-in-time
Balance, beginning of period	`StockholdersEquity`	$352.12M	USD	Point-in-time
Balance, beginning of period	`StockholdersEquity`	$364.49M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.12M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.01M	USD	1 Quarter
Conversion of Class B to Class A shares	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	1 Quarter
Conversion of Class B to Class A shares	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	1 Quarter
Net income	`NetIncomeLoss`	$12.58M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.96M	USD	1 Quarter
Cash dividends on Class A and Class B common stock	`DividendsCommonStockCash`	$1.45M	USD	1 Quarter
Cash dividends on Class A and Class B common stock	`DividendsCommonStockCash`	$1.37M	USD	1 Quarter
Reclassification adjustment to net income, net of tax	`ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax`	$-143.00K	USD	1 Quarter
Reclassification adjustment to net income, net of tax	`ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax`	$-118.00K	USD	1 Quarter
Balance, end of period	`StockholdersEquity`	$300.62M	USD	Point-in-time
Balance, end of period	`StockholdersEquity`	$309.37M	USD	Point-in-time
Balance, end of period	`StockholdersEquity`	$352.12M	USD	Point-in-time
Balance, end of period	`StockholdersEquity`	$364.49M	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Reclassification of pension and postretirement adjustments into earnings, tax expense (benefit)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax`	$-35.00K	USD	1 Quarter
Reclassification of pension and postretirement adjustments into earnings, tax expense (benefit)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax`	$-43.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$12.58M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.96M	USD	1 Quarter
Reclassification of pension and postretirement adjustments into earnings, net of $35 and $43 tax benefit in the three months ended March 31, 2022 and March 31, 2021, respectively.	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	$-143.00K	USD	1 Quarter
Reclassification of pension and postretirement adjustments into earnings, net of $35 and $43 tax benefit in the three months ended March 31, 2022 and March 31, 2021, respectively.	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	$-118.00K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$143.00K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$118.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$9.10M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$12.70M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.