Company: NC
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000789933-25-000102
Chunk: 24

Company: NACCO INDUSTRIES INC
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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44,522 139,969 120,550 Total revenues$76,614 $61,656 $210,420 $167,290 Contract Balances: The opening and closing balances of our current and long-term contract assets and liabilities and receivables are as follows:Contract balancesTrade accounts receivableContract asset (current)Contract asset(long-term)Contract liability (current)Contract liability (long-term)Balance at January 1, 2025$49,706 $313 $3,500 $484 $5,119 Balance at September 30, 202530,889 332 3,500 1,003 9,514 Increase (decrease)$(18,817)$19 $— $519 $4,395 We expect to recognize $0.7 million in the remainder of 2025, $0.4 million in 2026 and 2027, $1.2 million in 2028, $2.6 million in 2029 and $5.3 million thereafter related to the contract liability remaining at September 30, 2025. The difference between the opening and closing balances of our contract balances results from the timing difference between our performance and the customer’s payment. We have no contract assets recognized from the costs to obtain or fulfill a contract with a customer.

NOTE 3—Inventories

Inventories are summarized as follows:  SEPTEMBER 302025 DECEMBER 312024Coal and aggregates$20,600 $27,076 Mining supplies73,838 67,532  Total inventories$94,438  $94,608 We recorded inventory impairment charges of $2.7 million and $7.0 million during the three and nine months ended September 30, 2025, respectively, and $1.0 million and $4.1 million during the three and nine months ended September 30, 2024, respectively. The inventory impairment charges are in the Cost of sales line in the accompanying Unaudited Condensed Consolidated Statements of Operations as mining costs exceeded the net realizable value of coal inventory at MLMC.

12

Mining supplies inventory consists primarily of critical spare parts to support Contract Mining’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