Company: NC
Filing Date: 2025-04-07
Form Type: ARS
Source: 0000789933-25-000013
Chunk: 182

Company: NACCO INDUSTRIES INC
Filing Date: 2025-04-07
Form: ARS
Chunk 182
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 decisions about allocating capital and other resources to each segment. All financial statement line items below operating profit (other income including interest expense and interest income, the provision for income taxes and net income) are presented and discussed within this Form 10-K on a consolidated basis. 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-35

See Note 1 for additional discussion of our reportable segments. All current operations reside in the U.S. The accounting policies of the reportable segments are described in Note 2. In 2024 and 2023, three customers and two customers, respectively, accounted for more than 10% of consolidated revenue. The following represents the revenue attributable to each of these entities as a percentage of consolidated revenue for those years: Percentage of Consolidated Revenue Segment 2024 2023 Coal Mining customer 29 % 40 % NAMining customer 24 % 22 % NAMining customer 11 % 7 % The following tables provide segment financial information and a reconciliation of segment results to consolidated results for the years ended December 31: 2024 2023 Revenues Coal Mining $ 68,611 $ 85,415 NAMining 119,600 90,532 Minerals Management 34,579 32,985 Unallocated Items 17,707 8,459 Eliminations (2,789) (2,597) Total $ 237,708 $ 214,794 Cost of sales Coal Mining $ 79,375 $ 108,760 NAMining 110,821 83,719 Minerals Management 5,234 3,969 Unallocated Items 15,323 6,252 Eliminations (2,801) (2,497) Total $ 207,952 $ 200,203 Earnings of unconsolidated operations Coal Mining $ 51,821 $ 44,633 NAMining 5,010 5,361 Minerals Management 647 — Unallocated Items (2) — Total $ 57,476 $ 49,994 Operating expenses* Coal Mining $ 30,358 $ 92,630 NAMining 8,017 8,826 Minerals Management 1,065 9,598 Unallocated Items 25,699 23,668 Total $ 65,139 $ 134,722 *