Company: NC
Filing Date: 2025-04-07
Form Type: ARS
Source: 0000789933-25-000013
Chunk: 109

Company: NACCO INDUSTRIES INC
Filing Date: 2025-04-07
Form: ARS
Chunk 109
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 regulations of numerous agencies, particularly the Federal Office of Surface Mining, the U.S. Environmental Protection Agency, the U.S. Army Corps of Engineers and associated state regulatory authorities. In addition, we closely monitor proposed legislation and regulation concerning SMCRA, CAA, ACE, CWA, RCRA, CERCLA and other regulatory actions. Compliance with these increasingly stringent regulations could result in higher expenditures for both capital improvements and operating costs. The election of Donald Trump, paired with Republican control of Congress, is likely to have a significant and favorable impact on the regulatory environment, particularly for fossil fuels. President Trump issued an Executive Order on January 20, 2025, "Unleashing American Energy," directing all federal executive agency heads to review all agency actions implicating energy reliability and affordability or potentially burdening the development of domestic energy resources. It is not yet clear how existing regulations affecting existing fossil fuel assets will be reconsidered or repealed. Our policies stress environmental responsibility and compliance with these regulations. See Item 1 and Item 1A. in Part I of this Form 10-K for further discussion of these matters. SEGMENT RESULTS COAL MINING SEGMENT FINANCIAL REVIEW See Item 2. Properties on page 29 in this Form 10-K for discussion of our mineral resources and mineral reserves. Tons of coal delivered by the Coal Mining segment were as follows for the years ended December 31: 2024 2023 Unconsolidated mines 21,308 20,741 Consolidated mines 1,922 2,931 Total tons delivered 23,230 23,672 The results of operations for the Coal Mining segment were as follows for the years ended December 31: 2024 2023 Revenues $ 68,611 $ 85,415 Cost of sales 79,375 108,760 Gross loss (10,764) (23,345) Earnings of unconsolidated operations(a) 51,821 44,633 Business interruption insurance recoveries 13,612 — Selling, general and administrative expenses and long-lived asset impairment charge 30,112 89,971 Amortization of intangible assets 531 2,998 Gain on sale of assets (285) (339) Operating profit (loss) $ 24,311 $ (71,342) Item 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS NACCO INDUSTRIES, INC. AND SUBSIDI