10-Q Filing

NACCO INDUSTRIES INC CIK: 789933 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0000789933-23-000038`
Period End Date	20230331
Filing Date	20230503
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	nacco-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 44 Cash Flow Statement 32 Stockholders Equity 19 Comprehensive Income 10

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$109.64M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$110.75M	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$31.04M	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$37.94M	USD	Point-in-time
Accounts receivable from affiliates	`DueFromAffiliates`	$4.48M	USD	Point-in-time
Accounts receivable from affiliates	`DueFromAffiliates`	$6.64M	USD	Point-in-time
Inventories	`InventoryNet`	$71.49M	USD	Point-in-time
Inventories	`InventoryNet`	$71.25M	USD	Point-in-time
Federal income tax receivable	`IncomeTaxesReceivable`	$15.10M	USD	Point-in-time
Federal income tax receivable	`IncomeTaxesReceivable`	$15.69M	USD	Point-in-time
Prepaid insurance	`PrepaidInsurance`	$2.00M	USD	Point-in-time
Prepaid insurance	`PrepaidInsurance`	$11.84M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$15.91M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$12.92M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$256.25M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$260.41M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$219.77M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$217.95M	USD	Point-in-time
Intangibles, net	`FiniteLivedIntangibleAssetsNet`	$27.33M	USD	Point-in-time
Intangibles, net	`FiniteLivedIntangibleAssetsNet`	$28.05M	USD	Point-in-time
Investments in unconsolidated subsidiaries	`EquityMethodInvestments`	$13.95M	USD	Point-in-time
Investments in unconsolidated subsidiaries	`EquityMethodInvestments`	$14.93M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$6.42M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$6.22M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$38.60M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$40.31M	USD	Point-in-time
Total assets	`Assets`	$562.12M	USD	Point-in-time
Total assets	`Assets`	$568.07M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.61M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.95M	USD	Point-in-time
Accounts payable to affiliates	`DueToAffiliateCurrentAndNoncurrent`	$1.36M	USD	Point-in-time
Accounts payable to affiliates	`DueToAffiliateCurrentAndNoncurrent`	$868.00K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$3.65M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$2.94M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationCurrent`	$1.75M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationCurrent`	$2.50M	USD	Point-in-time
Accrued payroll	`AccruedSalariesCurrent`	$18.11M	USD	Point-in-time
Accrued payroll	`AccruedSalariesCurrent`	$7.92M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$833.00K	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$2.04M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$6.62M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$7.13M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$44.27M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$34.01M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$16.02M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$17.43M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$7.28M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$7.53M	USD	Point-in-time
Asset retirement obligations	`MineReclamationAndClosingLiabilityNoncurrent`	$46.42M	USD	Point-in-time
Asset retirement obligations	`MineReclamationAndClosingLiabilityNoncurrent`	$44.26M	USD	Point-in-time
Pension and other postretirement obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$4.78M	USD	Point-in-time
Pension and other postretirement obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$5.08M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$6.12M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$3.70M	USD	Point-in-time
Liability for uncertain tax positions	`LiabilityForUncertainTaxPositionsNoncurrent`	$9.33M	USD	Point-in-time
Liability for uncertain tax positions	`LiabilityForUncertainTaxPositionsNoncurrent`	$9.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$8.50M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$7.81M	USD	Point-in-time
Total liabilities	`Liabilities`	$141.11M	USD	Point-in-time
Total liabilities	`Liabilities`	$130.44M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$23.71M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$24.11M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$404.92M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$409.06M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.99M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-9.01M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$364.49M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$431.69M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$352.12M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$426.97M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$562.12M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$568.07M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$55.02M	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$50.14M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$46.78M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$39.18M	USD	1 Quarter
Gross profit	`GrossProfit`	$15.85M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.36M	USD	1 Quarter
Earnings of unconsolidated operations	`EarningsOfUnconsolidatedMines`	$13.82M	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`	$14.88M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$727.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$847.00K	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$136.00K	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$236.00K	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$15.49M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$15.37M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$14.94M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$1.81M	USD	1 Quarter
Interest expense	`InterestExpense`	$513.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$545.00K	USD	1 Quarter
Interest income	`InvestmentIncomeNonoperating`	$1.16M	USD	1 Quarter
Interest income	`InvestmentIncomeNonoperating`	$145.00K	USD	1 Quarter
Closed mine obligations	`NonoperatingIncomeExpenseClosedMineObligations`	$409.00K	USD	1 Quarter
Closed mine obligations	`NonoperatingIncomeExpenseClosedMineObligations`	$380.00K	USD	1 Quarter
Gain on equity securities	`EquitySecuritiesFvNiRealizedGainLoss`	$518.00K	USD	1 Quarter
Gain on equity securities	`EquitySecuritiesFvNiRealizedGainLoss`	$628.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$230.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$1.73M	USD	1 Quarter
Other (income) expense	`NonoperatingIncomeExpense`	$2.55M	USD	1 Quarter
Other (income) expense	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Income before income tax (benefit) provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$14.94M	USD	1 Quarter
Income before income tax (benefit) provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.37M	USD	1 Quarter
Income tax (benefit) provision	`IncomeTaxExpenseBenefit`	$2.36M	USD	1 Quarter
Income tax (benefit) provision	`IncomeTaxExpenseBenefit`	$-1.32M	USD	1 Quarter
Net income	`NetIncomeLoss`	$12.58M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.69M	USD	1 Quarter
Basic earnings per share (in dollars per share)	`EarningsPerShareBasic`	$0.77	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`	$0.76	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`	7.25M	shares	1 Quarter
Basic weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.43M	shares	1 Quarter
Diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.32M	shares	1 Quarter
Diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.51M	shares	1 Quarter

Cash Flow Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net cash provided by (used for) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.07M	USD	1 Quarter
Net cash provided by (used for) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.25M	USD	1 Quarter
Expenditures for property, plant and equipment and acquisition of mineral interests	`PaymentsToAcquirePropertyPlantAndEquipmentAndMineralRights`	$4.65M	USD	1 Quarter
Expenditures for property, plant and equipment and acquisition of mineral interests	`PaymentsToAcquirePropertyPlantAndEquipmentAndMineralRights`	$7.88M	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`	$272.00K	USD	1 Quarter
Proceeds from the sale of private company equity units	`ProceedsFromSaleOfEquityMethodInvestments`	$1.15M	USD	1 Quarter
Proceeds from the sale of private company equity units	`ProceedsFromSaleOfEquityMethodInvestments`	-	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$10.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$15.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.46M	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`	$2.11M	USD	1 Quarter
Reductions of long-term debt	`RepaymentsOfLongTermDebt`	$1.46M	USD	1 Quarter
Reductions of long-term debt	`RepaymentsOfLongTermDebt`	$2.69M	USD	1 Quarter
Net additions to revolving credit agreements	`LineOfCreditFacilityIncreaseDecreaseForPeriodNet`	$-2.00M	USD	1 Quarter
Net additions to revolving credit agreements	`LineOfCreditFacilityIncreaseDecreaseForPeriodNet`	-	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividends`	$1.45M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividends`	$1.56M	USD	1 Quarter
Net cash (used for) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.21M	USD	1 Quarter
Net cash (used for) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-901.00K	USD	1 Quarter
Total decrease for the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.38M	USD	1 Quarter
Total decrease for the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.11M	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`	$110.75M	USD	Point-in-time
Balance at the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$81.62M	USD	Point-in-time
Balance at the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$109.64M	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`	$110.75M	USD	Point-in-time
Balance at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$81.62M	USD	Point-in-time
Balance at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$109.64M	USD	Point-in-time

Stockholders Equity 19 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`	$0.21	USD	1 Quarter
Balance, beginning of period	`StockholdersEquity`	$364.49M	USD	Point-in-time
Balance, beginning of period	`StockholdersEquity`	$431.69M	USD	Point-in-time
Balance, beginning of period	`StockholdersEquity`	$352.12M	USD	Point-in-time
Balance, beginning of period	`StockholdersEquity`	$426.97M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.12M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$564.00K	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`	$5.69M	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`	$1.56M	USD	1 Quarter
Reclassification adjustment to net income, net of tax	`ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax`	$-118.00K	USD	1 Quarter
Reclassification adjustment to net income, net of tax	`ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax`	$-21.00K	USD	1 Quarter
Balance, end of period	`StockholdersEquity`	$364.49M	USD	Point-in-time
Balance, end of period	`StockholdersEquity`	$431.69M	USD	Point-in-time
Balance, end of period	`StockholdersEquity`	$352.12M	USD	Point-in-time
Balance, end of period	`StockholdersEquity`	$426.97M	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$12.58M	USD	1 Quarter
Reclassification of pension and postretirement adjustments into earnings, tax benefit	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax`	$6.00K	USD	1 Quarter
Reclassification of pension and postretirement adjustments into earnings, tax benefit	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax`	$35.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.69M	USD	1 Quarter
Reclassification of pension and postretirement adjustments into earnings, net of $6 and $35 tax benefit in the three months ended March 31, 2023 and March 31, 2022, respectively.	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	$-21.00K	USD	1 Quarter
Reclassification of pension and postretirement adjustments into earnings, net of $6 and $35 tax benefit in the three months ended March 31, 2023 and March 31, 2022, respectively.	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	$-118.00K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$118.00K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$21.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$12.70M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$5.71M	USD	1 Quarter

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