Company: NC
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000789933-25-000102
Chunk: 65

Company: NACCO INDUSTRIES INC
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 65
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 Value Measurements: The following table presents our assets and liabilities accounted for at fair value on a recurring basis:Fair Value Measurements at Reporting Date UsingQuoted Prices inSignificantActive Markets forSignificant OtherUnobservableIdentical AssetsObservable InputsInputsDescriptionDate(Level 1)(Level 2)(Level 3)September 30, 2025Assets:Equity securities$18,109 $18,109 $— $— $18,109 $18,109 $— $— 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 $13.2 million and $12.3 million at September 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 gains of $0.7 million and $1.2 million during the three and nine months ended September 30, 2025, respectively, and gains of $0.6 million and $1.5 million during the three and nine months ended September 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 $4.9 million and $6.3 million at September 30, 2025 and December 31, 2024, respectively, and is recognized as a component of Equity securities in the accompanying Unaudited Condensed Consolidated Balance Sheets.