Company: NC
Filing Date: 2025-04-07
Form Type: ARS
Source: 0000789933-25-000013
Chunk: 183

Company: NACCO INDUSTRIES INC
Filing Date: 2025-04-07
Form: ARS
Chunk 183
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Operating expenses consist of Selling, general and administrative expenses, Amortization of intangible assets, (Gain) loss on sale of assets and Long-lived asset impairment charges. 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-36

2024 2023 Operating profit (loss) Coal Mining $ 24,311 $ (71,342) NAMining 5,772 3,348 Minerals Management 28,927 19,418 Unallocated Items (23,317) (21,461) Eliminations 12 (100) Total $ 35,705 $ (70,137) Expenditures for property, plant and equipment and acquisition of mineral interests Coal Mining $ 8,292 $ 6,609 NAMining 30,556 36,073 Minerals Management 1,079 38,881 Unallocated Items 15,492 559 Total $ 55,419 $ 82,122 Depreciation, depletion and amortization Coal Mining $ 9,476 $ 17,569 NAMining 9,811 8,172 Minerals Management 4,273 3,067 Unallocated Items 1,092 579 Total $ 24,652 $ 29,387 Asset information by segment is not discretely maintained for internal reporting or used in evaluating performance. NOTE 16—Unconsolidated Subsidiaries Each of our wholly owned Unconsolidated Subsidiaries, within the Coal Mining and NAMining segments, meet the definition of a VIE. The Unconsolidated Subsidiaries are capitalized primarily with debt financing provided by or supported by their respective customers, and generally without recourse to us. Although we own 100% of the equity and manages the daily operations of the Unconsolidated Subsidiaries, we have determined that the equity capital provided by us is not sufficient to adequately finance the ongoing activities or absorb any expected losses without additional support from the customers. The customers have a controlling financial interest and have the power to direct the activities that most significantly affect the economic performance of the entities. As a result, we are not the primary beneficiary and therefore do not consolidate these entities' financial positions or results of operations. See Note 1 for a discussion of these entities. The Investment in the unconsolidated subsidiaries and related tax positions