Company: NC
Filing Date: 2025-04-07
Form Type: ARS
Source: 0000789933-25-000013
Chunk: 180

Company: NACCO INDUSTRIES INC
Filing Date: 2025-04-07
Form: ARS
Chunk 180
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 prices in active markets for identical assets, or Level 1 in the fair value hierarchy. Following are the values as of December 31: Level 1 2024 2023 Fixed income securities $ 28,028 $ 29,866 Money market funds 223 181 Cash equivalents — 81 Total $ 28,251 $ 30,128 Postretirement Health Care: We also maintain health care plans which provide benefits to grandfathered eligible retired employees. All of our health care plans have a cap on our share of the costs. The health care plans have network provided benefits which result in cost savings for us. These plans have no assets. Under our current policy, plan benefits are funded at the time they are due to participants. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NACCO INDUSTRIES, INC. AND SUBSIDIARIES (Tabular Amounts in Thousands, Except Per Share, Percentage Data and Oil and Gas Disclosures) F-33

The assumptions used in accounting for the postretirement health care plans are set forth below for the years ended December 31: 2024 2023 Weighted average discount rates for benefit obligation 5.26 % 4.98 % Weighted average discount rates for net periodic benefit cost 4.98 % 5.29 % Health care cost trend rate assumed for next year 6.50% 6.25% - 6.50% Rate to which the cost trend rate is assumed to decline (ultimate trend rate) 4.75% 4.75% Year that the rate reaches the ultimate trend rate 2033 2029 - 2033 Set forth below is detail of the net periodic benefit expense for the postretirement health care plans for the years ended December 31: 2024 2023 Service cost $ 8 $ 7 Interest cost 75 77 Amortization of actuarial loss 75 44 Amortization of prior service credit (6) (50) Net periodic benefit expense $ 152 $ 78 Set forth below is detail of other changes in benefit obligations recognized in other comprehensive (income) loss for the years ended December 31: 2024 2023 Current year actuarial (gain) loss $ (49) $ 173 Amortization of actuarial loss (75) (44) Amortization of prior service credit 6 50 Total recognized in other comprehensive (income) loss $ (118) $ 179