Company: NC
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000789933-25-000102
Chunk: 63

Company: NACCO INDUSTRIES INC
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 63
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 and uncertainty of revenue and cash flows are affected by economic factors. Our business consists of the Utility Coal Mining, Contract Mining and Minerals and Royalties segments as well as Unallocated Items. See Note 7 to the Unaudited Condensed Consolidated Financial Statements for further discussion of segment reporting. The following table disaggregates revenue by major sources as of September 30:THREE MONTHS ENDEDNINE MONTHS ENDEDSEPTEMBER 30SEPTEMBER 302025 20242025 2024Timing of Revenue RecognitionTransferred at a point in time$20,125 $17,134 $70,451 $46,740 Transferred over time56,489 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 $