Company: NC
Filing Date: 2025-04-07
Form Type: ARS
Source: 0000789933-25-000013
Chunk: 177

Company: NACCO INDUSTRIES INC
Filing Date: 2025-04-07
Form: ARS
Chunk 177
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 and participants were offered lump-sum distributions as part of the termination process. As a result of the lump-sum distributions, we recognized a non-cash, pension settlement charge of $1.8 million on the Other, net line within the accompanying Consolidated Statements of Operations. The $1.8 million charge represents a pro rata portion of the unrecognized net loss recorded in Accumulated other comprehensive loss. The assumptions used in accounting for the defined benefit plans were as follows for the years ended December 31: 2024 2023 Weighted average discount rates for pension benefit obligation 5.39% - 5.49% 5.02% - 5.04% Weighted average discount rates for net periodic benefit cost 5.02% - 5.04% 5.36% - 5.40% Expected long-term rate of return on assets for net periodic benefit cost 5.00% 7.00% 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-30

Set forth below is detail of the net periodic pension expense for the defined benefit plans for the years ended December 31: 2024 2023 Interest cost $ 1,360 $ 1,639 Expected return on plan assets (1,641) (2,751) Amortization of actuarial loss 270 51 Amortization of prior service cost 58 58 Settlements — 1,815 Net periodic pension expense $ 47 $ 812 Set forth below is detail of other changes in plan assets and benefit obligations recognized in other comprehensive loss for the years ended December 31: 2024 2023 Current year actuarial loss $ 960 $ 2,560 Amortization of actuarial loss (270) (51) Amortization of prior service cost (58) (58) Settlements — (1,815) Total recognized in other comprehensive loss $ 632 $ 636 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-31

The following table sets forth the changes in the benefit obligation and the plan assets during the year and the funded status of the defined benefit plans at