Company: NC
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000789933-25-000041
Chunk: 63

Company: NACCO INDUSTRIES INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 63
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Observable InputsInputsDescriptionDate(Level 1)(Level 2)(Level 3)June 30, 2025Assets:Equity securities$17,769 $17,769 $— $— $17,769 $17,769 $— $— December 31, 2024Assets:Equity securities$18,663 $18,663 $— $— $18,663 $18,663 $— $— Bellaire is our non-operating subsidiary with legacy liabilities relating to closed mining operations. Prior to 2024, Bellaire contributed $5.0 million to establish a mine water treatment trust (Mine Water Treatment Trust) to assure the long-term treatment of post-mining discharge. Bellaire's Mine Water Treatment Trust invests in equity securities that are reported at fair value based upon quoted market prices in active markets for identical assets; therefore, they are classified as Level 1 within the fair value hierarchy. The fair value of the Mine Water Treatment Trust was $12.5 million and $12.3 million at June 30, 2025 and December 31, 2024, respectively, and is recognized as a component of Equity securities in the accompanying Unaudited Condensed Consolidated Balance Sheets. We recognized a gain of $0.8 million and $0.5 million during the three and six months ended June 30, 2025, respectively, and a gain of $0.3 million and $1.0 million during the three and six months ended June 30, 2024, respectively, related to the Mine Water Treatment Trust. Prior to 2024, we invested $2.0 million in equity securities of a public company with a diversified portfolio of royalty producing mineral interests. The investment is reported at fair value based upon quoted market prices in active markets for identical assets; therefore, it is classified as Level 1 within the fair value hierarchy. The fair value of this investment was $5.3 million and $6.3 million at June 30, 2025 and December 31, 2024, respectively, and is recognized as a component of Equity securities in the accompanying Unaudited Condensed Consolidated Balance Sheets. We recognized a loss of $0.4 million and $1.0 million during the three and six months ended June 30, 2025, respectively, and a loss of $0.5 million and