Company: NC
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000789933-25-000023
Chunk: 54

Company: NACCO INDUSTRIES INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 54
---
 value of coal inventory at MLMC.Mining supplies inventory consists primarily of critical spare parts to support NAMining’s dragline operations and other general supplies used on day-to-day operations. Mining supplies inventory not expected to be utilized within the next 12 months is classified as long-term on the Unaudited Condensed Consolidated Balance Sheet.

NOTE 4—Stockholders' Equity 

Stock Repurchase Program: On November 7, 2023, our Board of Directors approved a stock repurchase program (2023 Stock Repurchase Program) providing for the purchase of up to $20.0 million of our outstanding Class A Common stock through December 31, 2025. During the three months ended March 31, 2025 and 2024, we repurchased 22,198 and 127,687 shares of Class A Common Stock under the 2023 Stock Repurchase Program for an aggregate purchase price of $0.7 million and $4.3 million, respectively.

The timing and amount of any repurchases under the 2023 Stock Repurchase Program are determined at the discretion of our management based on a number of factors, including the availability of capital, other capital allocation alternatives, market conditions for our Class A Common Stock and other legal and contractual restrictions. The 2023 Stock Repurchase Program does not require us to acquire any specific number of shares and may be modified, suspended, extended or terminated by us without prior notice and may be executed through open market purchases, privately negotiated transactions or otherwise. All or part of the repurchases under the 2023 Stock Repurchase Program may be implemented under a Rule 10b5-1 trading plan, which would allow repurchases under pre-set terms at times when we might otherwise be restricted from doing so under applicable securities laws. 

12

NOTE 5—Fair Value Disclosure 

Recurring Fair Value Measurements: The following table presents our assets and liabilities accounted for at fair value on a recurring basis:Fair Value Measurements at Reporting Date UsingQuoted Prices inSignificantActive Markets forSignificant OtherUnobservableIdentical AssetsObservable InputsInputsDescriptionDate(Level 1)(Level 2)(Level 3)March 31, 2025Assets:Equity securities$17,819 $17,819 $— $— $17,819 $17,819 $— $— December 31, 2024Assets:Equity securities$18,663 $18,663 $— $—