Company: NC
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0000789933-25-000006
Chunk: 133

Company: NACCO INDUSTRIES INC
Filing Date: 2025-03-05
Form: 10-K
Item: Item 7
Chunk 133
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 regulations affecting existing fossil fuel assets will be reconsidered or repealed. Our policies stress environmental responsibility and compliance with these regulations. See Item 1 and Item 1A. in Part I of this Form 10-K for further discussion of these matters.

SEGMENT RESULTS

COAL MINING SEGMENT

FINANCIAL REVIEW

See Item 2. Properties on page 29 in this Form 10-K for discussion of our mineral resources and mineral reserves. 

Tons of coal delivered by the Coal Mining segment were as follows for the years ended December 31:

 20242023Unconsolidated mines21,308 20,741 Consolidated mines1,922 2,931 Total tons delivered23,230 23,672 

The results of operations for the Coal Mining segment were as follows for the years ended December 31:

 20242023Revenues $68,611 $85,415 Cost of sales 79,375 108,760 Gross loss(10,764)(23,345)Earnings of unconsolidated operations(a)51,821 44,633 Business interruption insurance recoveries13,612 — Selling, general and administrative expenses and long-lived asset impairment charge30,112 89,971 Amortization of intangible assets531 2,998 Gain on sale of assets(285)(339)Operating profit (loss)$24,311 $(71,342)

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Table of ContentsItem 7.    MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONSNACCO INDUSTRIES, INC. AND SUBSIDIARIES(Tabular Amounts in Thousands, Except Per Share and Percentage Data)

(a) See Note 16 to the Consolidated Financial Statements in this Form 10-K for a discussion of our unconsolidated subsidiaries, including summarized financial information.

2024 Compared with 2023 

Revenues decreased 19.7% in 2024 compared with 2023 due to a reduction in customer requirements at MLMC as a result of a  boiler issue at the customer's Red Hills Power Plant.

The following table identifies the components of change in Operating profit (loss) for 2024 compared with 2023:

 Operating Profit (Loss)2023$(71,342)Increase (decrease) from: Long-lived asset impairment charge in 202360,832 Business interruption insurance recoveries13,