NACCO INDUSTRIES INC
For the period ended Dec 31, 2025. Filed Mar 4, 2026.
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FY2025 · Filed Mar 4, 2026
NC$34.95-0.8%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31 | ||
|---|---|---|
| 2025 | 2024 | |
| (In thousands) | ||
| Operating Activities | ||
| Net income | $17,574 | $33,741 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation, depletion and amortization | 25,277 | 24,652 |
| Amortization of deferred financing fees | 764 | 619 |
| Deferred income taxes | 58 | 1,517 |
| Stock-based compensation | 8,280 | 5,832 |
| Gain on sale of assets | (286) | (5,146) |
| Inventory impairment charges | 6,986 | 9,643 |
| Pension settlement charge | 7,804 | — |
| Other | 7,242 | (3,971) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 2,916 | (11,725) |
| Inventories | (11,439) | (27,250) |
| Other current assets | (5,177) | (8,677) |
| Accounts payable | 2,668 | 1,955 |
| Income taxes receivable/payable | (2,935) | (148) |
| Other current liabilities | (8,823) | 1,247 |
| Net cash provided by operating activities | 50,909 | 22,289 |
| Investing Activities | ||
| Expenditures for property, plant and equipment | (48,625) | (54,706) |
| Acquisition of mineral interests | (4,661) | (713) |
| Proceeds from the sale of assets | 2,799 | 822 |
| Equity method investment | (16,702) | (16,556) |
| Return of equity method investment | 3,295 | — |
| Other | (282) | (139) |
| Net cash used for investing activities | (64,176) | (71,292) |
| Financing Activities | ||
| Net additions to revolving credit agreement | 5,000 | 60,000 |
| Reductions to long-term debt | (4,643) | (4,914) |
| (Reductions) additions to note payable to affiliate | (346) | 624 |
| Debt issuance costs | — | (2,415) |
| Cash dividends paid | (7,335) | (6,624) |
| Purchase of treasury shares | (2,534) | (9,944) |
| Net cash (used for) provided by financing activities | (9,858) | 36,727 |
| Cash and Cash Equivalents | ||
| Total decrease for the year | (23,125) | (12,276) |
| Balance at the beginning of the year | 72,833 | 85,109 |
| Balance at the end of the year | $49,708 | $72,833 |
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