Company: NC
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0000789933-25-000006
Chunk: 128

Company: NACCO INDUSTRIES INC
Filing Date: 2025-03-05
Form: 10-K
Item: Item 7
Chunk 128
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 income (loss)$33,741 $(39,587)$73,328 Depreciation, depletion and amortization24,652 29,387 (4,735)Deferred income taxes1,517 (21,114)22,631 Stock-based compensation5,832 5,157 675 (Gain) loss on sale of assets(5,146)221 (5,367)Inventory impairment charges9,643 7,514 2,129 Long-lived asset impairment charge— 65,887 (65,887)Other(3,352)1,473 (4,825)Working capital changes(44,598)5,552 (50,150)Net cash provided by operating activities22,289 54,490 (32,201)Investing activities:   Expenditures for property, plant and equipment and acquisition of mineral interests(55,419)(82,122)26,703 Proceeds from the sale of assets822 561 261 Proceeds from the sale of private company equity units— 3,574 (3,574)Equity method investment(16,556)(3,464)(13,092)Other(139)(146)7 Net cash used for investing activities (71,292)(81,597)10,305 Cash flow before financing activities $(49,003)$(27,107)$(21,896)

The $32.2 million unfavorable change in net cash provided by operating activities during 2024 compared with 2023 was primarily due to an unfavorable change in cash provided by working capital, partially offset by an increase in cash provided by net income adjusted for non-cash items. The unfavorable change in working capital was mainly the result of:

•A significant reduction in the Federal income tax receivable during 2023 that did not reoccur in 2024.

•The changes in Inventory during the period as coal inventory increased during 2024 compared with a decrease in 2023. In addition, there was a larger increase in mining supplies inventory during 2024.

•An increase in Trade accounts receivable during 2024 compared with a decrease during 2023, primarily due to changes in the level and timing of collections as well as the payment terms provided to various customers.

Our non-cash items primarily include Long-lived asset impairment charge, Inventory impairment charges, Depreciation, depletion and amortization, Deferred income taxes, Stock-based compensation