Company: NC
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000789933-25-000041
Chunk: 23

Company: NACCO INDUSTRIES INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 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 June 30:THREE MONTHS ENDEDSIX MONTHS ENDEDJUNE 30JUNE 302025 20242025 2024Timing of Revenue RecognitionTransferred at a point in time$29,472 $14,498 $50,326 $29,606 Transferred over time38,763 37,847 83,480 76,028 Total revenues$68,235 $52,345 $133,806 $105,634 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 $5,119 Balance at June 30, 202538,861 388 3,500 1,450 8,435 Increase (decrease)$(10,845)$75 $— $966 $3,316 We expect to recognize $1.2 million in the remainder of 2025, $0.4 million in 2026 and 2027, $1.2 million in 2028, $2.6 million in 2029 and $4.1 million thereafter related to the contract liability remaining at June 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:  JUNE 302025 DECEMBER 312024Coal and aggregates$19,912 $27,076 Mining supplies72,331 67,532  Total inventories$92,243  $94,608 We recorded inventory impairment charges of $1.3 million and $4.3 million during the three and