Company: NC
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000789933-25-000102
Chunk: 100

Company: NACCO INDUSTRIES INC
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 2
Chunk 100
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19 million in the Contract Mining segment, $16 million in the Minerals and Royalties segment and $2 million in growth businesses included in Unallocated Items. Planned expenditures in 2026 are expected to be approximately $70 million.

Expenditures are expected to be funded from internally generated funds and/or bank borrowings.

21

Capital Structure

NACCO's consolidated capital structure is presented below:

 SEPTEMBER 302025 DECEMBER 312024 ChangeCash and cash equivalents$52,657  $72,833  $(20,176)Other net tangible assets474,440  451,962  22,478 Intangible assets, net4,901  5,475  (574)Net assets531,998  530,270  1,728 Total debt(80,162) (99,514) 19,352 Bellaire closed mine obligations(25,434) (25,809) 375 Total equity$426,402  $404,947  $21,455 Debt to total capitalization16% 20% (4)%

The increase in other net tangible assets at September 30, 2025 compared with December 31, 2024 was mainly the result of increases in Property, plant and equipment and tax assets. These increases were partially offset by a decrease in Trade accounts receivable during the first nine months of 2025 primarily due to the timing of payments. 

Contractual Obligations, Contingent Liabilities and Commitments

Since December 31, 2024, other than the changes identified above, there have been no significant changes in the total amount of NACCO's contractual obligations, contingent liabilities or commercial commitments, or the timing of cash flows in accordance with those obligations as reported on pages 56 and 57 in our Annual Report on Form 10-K for the year ended December 31, 2024. See Note 6 to the Unaudited Condensed Consolidated Financial Statements for a discussion of certain guarantees related to Coyote Creek.

SEGMENT RESULTS

UTILITY COAL MINING SEGMENT

FINANCIAL REVIEW

Tons of coal delivered by the Utility Coal Mining segment were as follows for the three and nine months ended September 30:

THREE MONTHSNINE MONTHS 2025 20242025 2024Unconsolidated operations5,469  5,335 14,821