NACCO Industries (NC) 10-Q3 Nov 212021 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2021	Oct. 29, 2021
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	1-9172
Entity Registrant Name	NACCO INDUSTRIES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	34-1505819
Entity Address, Address Line One	5875 Landerbrook Drive
Entity Address, Address Line Two	Suite 220
Entity Address, City or Town	Cleveland,
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	44124-4069
City Area Code	(440)
Local Phone Number	229-5151
Title of 12(b) Security	Class A Common Stock, $1 par value per share
Trading Symbol	NC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000789933
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Shares Outstanding Class A
Entity Information [Line Items]
Shares Outstanding (in shares)		5,607,149
Shares Outstanding Class B
Entity Information [Line Items]
Shares Outstanding (in shares)		1,566,643

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 87,507	$ 88,450
Trade accounts receivable, net	19,127	18,894
Accounts receivable from affiliates	6,377	4,764
Inventories	50,955	47,551
Federal income tax receivable	8,959	17,615
Prepaid insurance	4,184	2,564
Other current assets	15,274	8,308
Total current assets	192,383	188,146
Property, plant and equipment, net	189,369	172,417
Intangibles, net	32,534	35,330
Investments in unconsolidated subsidiaries	19,312	28,978
Operating lease right-of-use assets	9,235	10,324
Other non-current assets	46,085	40,984
Total assets	488,918	476,179
LIABILITIES AND EQUITY
Accounts payable	13,904	5,522
Accounts payable to affiliates	562	125
Revolving credit agreements	0	20,000
Current maturities of long-term debt	2,503	2,112
Asset retirement obligations	1,844	1,844
Accrued payroll	13,011	14,430
Other current liabilities	9,086	8,224
Total current liabilities	40,910	52,257
Long-term debt	14,501	24,353
Operating lease liabilities	10,109	11,196
Asset retirement obligations	41,693	39,888
Pension and other postretirement obligations	7,361	8,838
Deferred income taxes	12,563	17,550
Liability for uncertain tax positions	9,413	9,413
Other long-term liabilities	11,449	12,060
Total liabilities	147,999	175,555
Common stock:
Capital in excess of par value	14,542	10,895
Retained earnings	330,373	294,270
Accumulated other comprehensive loss	(11,170)	(11,599)
Total stockholders' equity	340,919	300,624
Total liabilities and equity	488,918	476,179
Class A Common Stock
Common stock:
Common stock	5,607	5,490
Class B Common Stock
Common stock:
Common stock	$ 1,567	$ 1,568

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical)	Sep. 30, 2021$ / sharesshares	Dec. 31, 2020$ / sharesshares
Class A Common Stock
Common stock, par value (in dollars per share) \| $ / shares	$ 1	$ 1
Common stock, shares outstanding (in shares) \| shares	5,607,149	5,489,615
Class B Common Stock
Common stock, par value (in dollars per share) \| $ / shares	$ 1	$ 1
Common stock, shares outstanding (in shares) \| shares	1,566,643	1,568,210
Common stock, convertible conversion ratio	1	1

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Revenues	$ 51,742	$ 32,295	$ 142,743	$ 105,294
Cost of sales	37,413	25,475	111,737	89,553
Gross profit	14,329	6,820	31,006	15,741
Earnings of unconsolidated operations	17,652	15,145	46,536	44,926
Contract termination settlement	10,333	0	10,333	0
Operating expenses
Selling, general and administrative expenses	13,830	11,833	40,471	37,151
Amortization of intangible assets	902	734	2,795	2,303
(Gain) loss on sale of assets	(10)	0	17	(247)
Operating expenses	14,722	12,567	43,283	39,207
Operating profit	27,592	9,398	44,592	21,460
Other expense (income)
Interest expense	493	336	1,208	1,069
Interest income	(101)	(95)	(321)	(625)
Closed mine obligations	372	395	1,119	1,219
Gain on equity securities	(445)	(35)	(2,530)	(351)
Other, net	(161)	(1,082)	(418)	(1,411)
Other (income) expense	158	(481)	(942)	(99)
Income before income tax provision	27,434	9,879	45,534	21,559
Income tax provision	2,597	1,857	5,231	1,321
Net income	$ 24,837	$ 8,022	$ 40,303	$ 20,238
Earnings per share:
Basic earnings per share (in dollars per share)	$ 3.47	$ 1.14	$ 5.65	$ 2.88
Diluted earnings per share (in dollars per share)	$ 3.47	$ 1.14	$ 5.63	$ 2.88
Basic weighted average shares outstanding (in shares)	7,165	7,036	7,136	7,019
Diluted weighted average shares outstanding (in shares)	7,165	7,036	7,153	7,035

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 24,837	$ 8,022	$ 40,303	$ 20,238
Reclassification of pension and postretirement adjustments into earnings, net of $42 and $127 tax benefit in the three and nine months ended September 30, 2021, respectively, and net of $29 and $102 tax benefit in the three and nine months ended September 30, 2020, respectively.	143	99	429	355
Total other comprehensive income	143	99	429	355
Comprehensive income	$ 24,980	$ 8,121	$ 40,732	$ 20,593

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Reclassification of pension and postretirement adjustments into earnings, tax expense (benefit)	$ (42)	$ (29)	$ (127)	$ (102)

Unaudited Condensed Consolida_6

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating activities
Net cash provided by operating activities	$ 67,794	$ 2,760
Investing activities
Expenditures for property, plant and equipment and acquisition of mineral interests	(35,534)	(19,802)
Proceeds from the sale of property, plant and equipment	547	550
Purchase of equity securities	0	(2,000)
Other	(52)	72
Net cash used for investing activities	(35,039)	(21,180)
Financing activities
Additions to long-term debt	3,633	6,199
Reductions of long-term debt	(3,131)	(1,057)
Net reductions to revolving credit agreements	(30,000)	(7,000)
Cash dividends paid	(4,200)	(4,045)
Purchase of treasury shares	0	(1,002)
Net cash used for financing activities	(33,698)	(6,905)
Cash and cash equivalents
Total decrease for the period	(943)	(25,325)
Balance at the beginning of the period	88,450	122,892
Balance at the end of the period	$ 87,507	$ 97,567

Unaudited Condensed Consolida_7

Unaudited Condensed Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Common StockClass A Common Stock	Common StockClass B Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period at Dec. 31, 2019	$ 289,392	$ 5,397	$ 1,569	$ 8,911	$ 284,852	$ (11,337)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	465	88		377
Purchase of treasury shares	(1,002)	(32)		(970)
Net income	6,166				6,166
Cash dividends on Class A and Class B common stock	(1,339)				(1,339)
Reclassification adjustment to net income, net of tax	155					155
Balance, end of period at Mar. 31, 2020	293,837	5,453	1,569	8,318	289,679	(11,182)
Balance, beginning of period at Dec. 31, 2019	289,392	5,397	1,569	8,911	284,852	(11,337)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	20,238
Balance, end of period at Sep. 30, 2020	306,489	5,477	1,568	9,381	301,045	(10,982)
Balance, beginning of period at Mar. 31, 2020	293,837	5,453	1,569	8,318	289,679	(11,182)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	634	10		624
Net income	6,050				6,050
Cash dividends on Class A and Class B common stock	(1,351)				(1,351)
Reclassification adjustment to net income, net of tax	101					101
Balance, end of period at Jun. 30, 2020	299,271	5,463	1,569	8,942	294,378	(11,081)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	452	13		439
Conversion of Class B to Class A shares	0	1	(1)
Net income	8,022				8,022
Cash dividends on Class A and Class B common stock	(1,355)				(1,355)
Reclassification adjustment to net income, net of tax	99					99
Balance, end of period at Sep. 30, 2020	306,489	5,477	1,568	9,381	301,045	(10,982)
Balance, beginning of period at Dec. 31, 2020	300,624	5,490	1,568	10,895	294,270	(11,599)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1,015	92		923
Conversion of Class B to Class A shares	0	1	(1)
Net income	8,961				8,961
Cash dividends on Class A and Class B common stock	(1,374)				(1,374)
Reclassification adjustment to net income, net of tax	143					143
Balance, end of period at Mar. 31, 2021	309,369	5,583	1,567	11,818	301,857	(11,456)
Balance, beginning of period at Dec. 31, 2020	300,624	5,490	1,568	10,895	294,270	(11,599)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	40,303
Balance, end of period at Sep. 30, 2021	340,919	5,607	1,567	14,542	330,373	(11,170)
Balance, beginning of period at Mar. 31, 2021	309,369	5,583	1,567	11,818	301,857	(11,456)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1,122	12		1,110
Net income	6,505				6,505
Cash dividends on Class A and Class B common stock	(1,412)				(1,412)
Reclassification adjustment to net income, net of tax	143					143
Balance, end of period at Jun. 30, 2021	315,727	5,595	1,567	12,928	306,950	(11,313)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1,626	12		1,614
Net income	24,837				24,837
Cash dividends on Class A and Class B common stock	(1,414)				(1,414)
Reclassification adjustment to net income, net of tax	143					143
Balance, end of period at Sep. 30, 2021	$ 340,919	$ 5,607	$ 1,567	$ 14,542	$ 330,373	$ (11,170)

Unaudited Condensed Consolida_8

Unaudited Condensed Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Cash dividends on common stock (in dollars per share)	$ 0.1975	$ 0.1975	$ 0.1925	$ 0.1925	$ 0.1925	$ 0.1900

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	9 Months Ended
Nature of Operations and Basis of Presentation	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Basis of Presentation	Nature of Operations and Basis of Presentation The accompanying Unaudited Condensed Consolidated Financial Statements include the accounts of NACCO Industries, Inc. ® (“NACCO”) and its wholly owned subsidiaries (collectively, the “Company”). NACCO brings natural resources to life by delivering aggregates, minerals, reliable fuels and environmental solutions through its robust portfolio of NACCO Natural Resources businesses. The Company operates under three business segments: Coal Mining, North American Mining ("NAMining") and Minerals Management. The Coal Mining segment operates surface coal mines for power generation companies and an activated carbon producer. The NAMining segment is a trusted mining partner for producers of aggregates, lithium and other minerals. The Minerals Management segment promotes the development of mineral interests. In addition, Mitigation Resources of North America ® (Mitigation Resources) provides stream and wetland mitigation solutions. The Company also has items not directly attributable to a reportable segment. Intercompany accounts and transactions are eliminated in consolidation. See Note 8 to the Unaudited Condensed Consolidated Financial Statements for further discussion of segment reporting. The Company’s operating segments are further described below: Coal Mining Segment The Coal Mining segment, operating as The North American Coal Corporation ® ("NACoal"), operates surface coal mines under long-term contracts with power generation companies and an activated carbon producer pursuant to a service-based business model. Coal is surface mined in North Dakota, Texas, Mississippi, Louisiana and through September 30, 2021, on the Navajo Nation in New Mexico. Each mine is fully integrated with its customer's operations. During the nine months ended September 30, 2021, the Company's operating coal mines were: Bisti Fuels Company, LLC (“Bisti”), The Coteau Properties Company (“Coteau”), Coyote Creek Mining Company, LLC (“Coyote Creek”), Demery Resources Company, LLC (“Demery”), The Falkirk Mining Company (“Falkirk”), Mississippi Lignite Mining Company (“MLMC”) and The Sabine Mining Company (“Sabine”). Falkirk operates the Falkirk Mine in North Dakota. Falkirk is the sole supplier of lignite coal to the Coal Creek Station power plant pursuant to a contract under which Falkirk also supplies approximately 0.3 million tons of lignite coal per year to Spiritwood Station power plant. Coal Creek Station and Spiritwood Station are owned by Great River Energy (“GRE”). In May 2020, GRE announced its intent to sell or retire Coal Creek Station and modify Spiritwood Station to be fueled by natural gas. On June 30, 2021, GRE entered into an agreement to sell Coal Creek Station and the adjacent high-voltage direct current transmission line to Bismarck, North Dakota-based Rainbow Energy Center, LLC (“Rainbow Energy”) and its affiliates. The closing of this sale is subject to the satisfaction of certain conditions and presently, the transaction is expected to close by the end of the first quarter of 2022. The timing could be accelerated, and the transaction could close before the end of 2021 if conditions are satisfied earlier than anticipated. Upon completion of the sale of Coal Creek Station, the existing Coal Sales Agreement, the existing Mortgage and Security Agreement and the existing Option Agreement between GRE and Falkirk will be terminated. Falkirk and GRE have entered into a termination and release of claims agreement. Upon completion of the sale of Coal Creek Station, GRE will pay Falkirk $14.0 million in cash, as well as transfer ownership of an office building located in Bismarck, North Dakota, and convey membership units in Midwest AgEnergy to NACoal. NACCO currently holds a $5.0 million investment in Midwest AgEnergy, which operates two ethanol facilities in North Dakota. If GRE's efforts to sell the power plant are successful, a new Coal Sales Agreement (“CSA”) between Falkirk and Rainbow Energy will become effective and Falkirk will supply all coal requirements of Coal Creek Station concurrent with Rainbow Energy’s acquisition of the power plant. Falkirk will no longer make any coal deliveries to GRE’s Spiritwood Station. Falkirk will be paid a management fee and Rainbow Energy will be responsible for funding all mine operating costs and directly or indirectly providing all of the capital required to operate the mine. The CSA specifies that Falkirk will perform final mine reclamation, which will be funded in its entirety by Rainbow Energy. The initial production period is expected to run ten years from the effective date of the CSA, but the CSA may be extended or terminated early under certain circumstances. If Rainbow Energy terminates the CSA and closes Coal Creek Station before 2027, Falkirk will be entitled to an additional payment from GRE under the terms of the termination and release of claims agreement. The additional payment amount ranges from $8 million if the closure occurs before 2024 to $2 million if the closure occurs in 2026. To support the transfer to new ownership, Falkirk has agreed to a reduction in the current per ton management fee from the effective date of the new CSA through May 31, 2024. After May 31, 2024, the per ton management fee increases to a higher base in line with current fee levels, and thereafter adjusts annually according to an index which tracks broad measures of U.S. inflation. Bisti supplied the Four Corners Power Plant through its contract mining agreement with the Navajo Transitional Energy Company ("NTEC"). This contract mining agreement was terminated effective September 30, 2021. As required under the agreement, NTEC paid the Company a termination fee of $10.3 million. As of October 1, 2021, NTEC assumed control and responsibility for operation and all reclamation of the Navajo Mine. Sabine operates the Sabine Mine in Texas. All production from Sabine is delivered to Southwestern Electric Power Company's (“SWEPCO”) Henry W. Pirkey Plant (the “Pirkey Plant”). SWEPCO is an American Electric Power (“AEP”) company. In November 2020, AEP announced its intent to retire the Pirkey Plant in 2023. SWEPCO expects deliveries from Sabine to continue until the first quarter of 2023 at which time Sabine expects to begin final reclamation. Funding for mine reclamation is the responsibility of SWEPCO. Coteau operates the Freedom Mine in North Dakota. All coal production from the Freedom Mine is delivered to Basin Electric Power Cooperative (“Basin Electric”). Basin Electric utilizes the coal at the Great Plains Synfuels Plant (the “Synfuels Plant”), Antelope Valley Station and Leland Olds Station. The Synfuels Plant is a coal gasification plant, owned by Dakota Gasification Company (“Dakota Gas’), a subsidiary of Basin Electric, that manufactures synthetic natural gas and produces fertilizers, solvents, phenol, carbon dioxide, and other chemical products for sale. In November 2020, Basin Electric informed Coteau that it is considering changes that may result in modifications to its Synfuels Plant that could potentially reduce or eliminate coal requirements at the Synfuels Plant. Basin Electric indicated that if it decides to proceed with any changes that could reduce or eliminate the use of coal, the feedstock change is not expected to occur before 2026. On August 16, 2021, Bakken Energy (“Bakken”) and Basin Electric signed a non-binding term sheet to purchase the assets of Dakota Gas. Bakken stated the closing date is expected to be April 1, 2023. As part of the agreement between Basin Electric and Bakken, Basin Electric indicated that the Synfuels Plant will continue existing operations through 2025. The closing is subject to the satisfaction of specified conditions. Basin Electric is also considering other options for the Synfuels Plant if the transaction with Bakken does not close. At all operating coal mines other than MLMC, the Company is paid a management fee per ton of coal or heating unit (MMBtu) delivered. Each contract specifies the indices and mechanics by which fees change over time, generally in line with broad measures of U.S. inflation. The customers are responsible for funding all mine operating costs, including final mine reclamation, and directly or indirectly provide all of the capital required to build and operate the mine. This contract structure eliminates exposure to spot coal market price fluctuations while providing income and cash flow with minimal capital investment. Other than at Coyote Creek, debt financing provided by or supported by the customers is without recourse to NACCO and NACoal. See Note 6 for further discussion of Coyote Creek's guarantees. All operating coal mines other than MLMC meet the definition of a variable interest entity (“VIE”). In each case, NACCO is not the primary beneficiary of the VIE as it does not exercise financial control; therefore, NACCO does not consolidate the results of these operations within its financial statements. Instead, these contracts are accounted for as equity method investments. The income before income taxes associated with these VIEs is reported as Earnings of unconsolidated operations on the Unaudited Condensed Consolidated Statements of Operations and the Company’s investment is reported on the line Investments in unconsolidated subsidiaries in the Unaudited Condensed Consolidated Balance Sheets. The mines that meet the definition of a VIE are referred to collectively as the “Unconsolidated Subsidiaries.” For tax purposes, the Unconsolidated Subsidiaries are included within the NACCO consolidated U.S. tax return; therefore, the income tax expense line on the Unaudited Condensed Consolidated Statements of Operations includes income taxes related to these entities. See Note 6 for further information on the Unconsolidated Subsidiaries. The MLMC contract is the only operating coal contract in which the Company is responsible for all operating costs, capital requirements and final mine reclamation; therefore, MLMC is consolidated within NACCO’s financial statements. MLMC sells coal to its customer at a contractually agreed-upon price which adjusts monthly, primarily based on changes in the level of established indices which reflect general U.S. inflation rates. Caddo Creek Resources Company, LLC (“Caddo Creek”) ceased all mining and delivery of lignite and commenced mine reclamation in the fourth quarter of 2020. The financial results of Caddo Creek are consolidated within NACCO's financial statements for the nine months ended September 30, 2021. Prior to entering into reclamation, Caddo Creek met the definition of a VIE; therefore, the financial results of Caddo Creek are reported as Earnings of unconsolidated operations for the three and nine months ended September 30, 2020. The reclamation at Caddo Creek is expected to be substantially complete by June 30, 2022. NAMining Segment The NAMining segment provides value-added contract mining and other services for producers of aggregates, lithium and other minerals. The segment is a primary platform for the Company’s growth and diversification of mining activities outside of the coal industry. NAMining provides contract mining services for independently owned mines and quarries, creating value for its customers by performing the mining aspects of its customers’ operations. This allows customers to focus on their areas of expertise: materials handling and processing, product sales and distribution. NAMining historically operated primarily at limestone quarries in Florida, but is focused on expanding outside of Florida, mining materials other than limestone and expanding the scope of mining operations provided to its customers. In the second quarter of 2021, NAMining entered into a one-year mining services contract with an existing customer for a sand and gravel quarry in Indiana. In the third quarter of 2021, NAMining entered into contracts with a new customer to perform all mining operations at two sand and gravel quarries located in Texas and Arkansas. The initial term of each contract is two years, and one of the contracts automatically extends an additional two years provided NAMining is not in default under that contract. In addition, NAMining will serve as exclusive contract miner for the Thacker Pass lithium project in northern Nevada. NAMining utilizes both fixed price and management fee contract structures. Certain of the entities within the NAMining segment are VIEs and are accounted for under the equity method as Unconsolidated Subsidiaries. See Note 6 for further discussion. Minerals Management Segment The Minerals Management segment derives income primarily by leasing its royalty and mineral interests to third-party exploration and production companies, and, to a lesser extent, other mining companies, granting them the rights to explore, develop, mine, produce, market and sell gas, oil, and coal in exchange for royalty payments based on the lessees' sales of those minerals. During 2021 and 2020, the Minerals Management segment acquired mineral interests, primarily in the Eagle Ford and Permian Basins in Texas and intends to make future acquisitions of mineral and royalty interests that meet the Company’s acquisition criteria as part of its growth strategy. In the second quarter of 2021, the Minerals Management segment, through its Catapult Mineral Partners (“Catapult”) business, acquired a combination of mineral and overriding royalty interests in the Eagle Ford Basin, which includes approximately 14.1 thousand gross acres and 1.7 thousand net royalty acres, for $4.7 million. Under the terms of the transaction, Catapult will make payments for each additional well developed on the acquired assets at the end of 2021 and 2022 of up to a maximum of $0.6 million per year, or an additional $1.2 million of payments in total. Catapult also completed a small acquisition of royalty interests in the Delaware Basin in the second quarter of 2021 for a purchase price of $0.3 million. The Company’s legacy royalty and mineral interests are located in Ohio (Utica and Marcellus shale natural gas), Louisiana (Haynesville shale and Cotton Valley formation natural gas), Texas (Cotton Valley and Austin Chalk formation natural gas), Mississippi (coal), Pennsylvania (coal, coalbed methane and Marcellus shale natural gas), Alabama (coal and coalbed methane and natural gas) and North Dakota (coal, oil and natural gas). The majority of the Company’s legacy reserves were acquired as part of its historical coal mining operations. Specialized employees in the Minerals Management segment also provide surface and mineral acquisition and lease maintenance services related to Company operations. Basis of Presentation: These financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position of the Company at September 30, 2021, the results of its operations, comprehensive income, cash flows and changes in equity for the nine months ended September 30, 2021 and 2020 have been included. These Unaudited Condensed Consolidated Financial Statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2020. The balance sheet at December 31, 2020 has been derived from the audited financial statements at that date but does not include all of the information or notes required by U.S. GAAP for complete financial statements. Certain amounts in prior period Unaudited Condensed Consolidated Financial Statements have been reclassified to conform to the current period's presentation.

Revenue Recognition

Revenue Recognition	9 Months Ended
Revenue Recognition	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition At contract inception, the Company assesses the goods and services promised in its contracts with customers and identifies a performance obligation for each promised good or service that is distinct. To identify the performance obligations, the Company considers all of the goods or services promised in the contract regardless of whether they are explicitly stated or are implied by customary business practices. Each mine or mine area has a contract with its respective customer that represents a contract under ASC 606. For its consolidated entities, the Company’s performance obligations vary by contract and consist of the following: At MLMC, each MMBtu delivered during the production period is considered a separate performance obligation. Revenue is recognized at the point in time that control of each MMBtu of lignite transfers to the customer. Fluctuations in revenue from period to period generally result from changes in customer demand. During 2020, Caddo Creek entered into a fixed-price contract to perform mine reclamation. The management service to perform mine reclamation is the performance obligation accounted for as a series. Performance momentarily creates an asset that the customer simultaneously receives and consumes; therefore, control is transferred to the customer over time. Revenue from this contract is recognized over time utilizing the cost-to-cost method to measure the extent of progress toward completion of the performance obligation. The Company believes the cost-to-cost method is the most appropriate method to measure progress and that the rate at which costs are incurred to fulfill the contract best depicts the transfer of control to the customer. The extent of progress towards completion is measured based on the ratio of costs incurred to date compared to total estimated costs at completion, and revenue is recorded proportionally based on an estimated profit margin. At NAMining, the management service to oversee the operation of the equipment and delivery of aggregates or other minerals is the performance obligation accounted for as a series. Performance momentarily creates an asset that the customer simultaneously receives and consumes; therefore, control is transferred to the customer over time. Consistent with the conclusion that the customer simultaneously receives and consumes the benefits provided, an input-based measure of progress is appropriate. As each month of service is completed, revenue is recognized for the amount of actual costs incurred, plus the management fee or fixed fee and the general and administrative fee (as applicable). Fluctuations in revenue from period to period result from changes in customer demand primarily due to increases and decreases in activity levels on individual contracts and variances in reimbursable costs. The Minerals Management segment enters into contracts which grant the right to explore, develop, produce and sell minerals controlled by the Company. These arrangements result in the transfer of mineral rights for a period of time; however, no rights to the actual land are granted other than access for purposes of exploration, development, production and sales. The mineral rights revert back to the Company at the expiration of the contract. Under these contracts, granting exclusive right, title, and interest in and to minerals, if any, is the performance obligation. The performance obligation under these contracts represents a series of distinct goods or services whereby each day of access that is provided is distinct. The transaction price consists of a variable sales-based royalty and, in certain arrangements, a fixed component in the form of an up-front lease bonus payment. As the amount of consideration the Company will ultimately be entitled to is entirely susceptible to factors outside its control, the entire amount of variable consideration is constrained at contract inception. The Company believes that the pricing provisions of royalty contracts are customary in the industry. Up-front lease bonus payments represent the fixed portion of the transaction price and are recognized over the primary term of the contract, which is generally five years. Significant Judgments The Company’s contracts with its customers contain different types of variable consideration including, but not limited to, management fees that adjust based on volumes or MMBtu delivered, however, the terms of these variable payments relate specifically to the Company's efforts to satisfy one or more, but not all of, the performance obligations (or to a specific outcome from satisfying the performance obligations) in the contract. Therefore, the Company allocates each variable payment (and subsequent changes to that payment) entirely to the specific performance obligation to which it relates. Management fees, as well as general and administrative fees, are also adjusted based on changes in specified indices (e.g., CPI) to compensate for general inflation changes. Index adjustments, if applicable, are effective prospectively. Recognition of revenue and recognition of profit related to the Caddo Creek contract requires the use of assumptions and estimates related to the total contract value, the total cost at completion, and the measurement of progress towards completion of the performance obligation. Due to the nature of the contract, developing the estimated total contract value and total cost at completion requires the use of significant judgment. The total contract value includes variable consideration. The Company includes variable consideration in the transaction price at the most likely amount to be earned, based upon the Company’s assessment of expected performance. The Company records these amounts only to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Cost Reimbursement Certain contracts include reimbursement from customers of actual costs incurred for the purchase of supplies, equipment and services in accordance with contractual terms. Such reimbursable revenue is variable and subject to uncertainty, as the amounts received and timing thereof is highly dependent on factors outside of the Company’s control. Accordingly, reimbursable revenue is fully constrained and not recognized until the uncertainty is resolved, which typically occurs when the related costs are incurred on behalf of a customer. The Company is generally considered a principal in such transactions and records the associated revenue at the gross amount billed to the customer with the related costs recorded as an expense within cost of sales. Prior Period Performance Obligations The Company records royalty income in the month production is delivered to the purchaser. As a non-operator, the Company has limited visibility into when new wells start producing and production statements may not be received for 30 to 90 days or more after the date production is delivered. As a result, the Company is required to estimate the amount of production delivered to the purchaser of the product and the price that will be received for the sale of the product. The expected sales volumes and prices for these properties are estimated and recorded in "Accounts receivable" in the accompanying Unaudited Condensed Consolidated Balance Sheets. The difference between the Company’s estimates and the actual amounts received is recorded in the month that payment is received from the third-party lessee. For the three and nine months ended September 30, 2021 and 2020, royalty income recognized in the reporting periods related to performance obligations satisfied in prior reporting periods was immaterial. During the third quarter of 2021, the Company recognized $1.8 million of variable consideration that was previously constrained due to uncertainty of collectability. Disaggregation of Revenue In accordance with ASC 606-10-50, the Company disaggregates revenue from contracts with customers into major goods and service lines and timing of transfer of goods and services. The Company determined that disaggregating revenue into these categories achieves the disclosure objective of depicting how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. The Company’s business consists of the Coal Mining, NAMining and Minerals Management segments as well as Unallocated Items. See Note 8 to the Unaudited Condensed Consolidated Financial Statements for further discussion of segment reporting. THREE MONTHS ENDED NINE MONTHS ENDED SEPTEMBER 30 SEPTEMBER 30 2021 2020 2021 2020 Timing of Revenue Recognition Goods transferred at a point in time $ 20,436 $ 19,871 $ 61,931 $ 61,131 Services transferred over time 31,306 12,424 80,812 44,163 Total revenues $ 51,742 $ 32,295 $ 142,743 $ 105,294 Contract Balances The opening and closing balances of the Company’s current and long-term accounts receivable, contract assets and contract liabilities are as follows: Contract balances Trade accounts receivable, net Contract asset Contract liability (current) Contract liability (long-term) Balance, January 1, 2021 $ 18,894 $ 4,984 $ 941 $ 3,626 Balance, September 30, 2021 19,127 5,790 824 3,683 Increase (decrease) $ 233 $ 806 $ (117) $ 57 As described above, the Company enters into royalty contracts that grant exclusive right, title, and interest in and to minerals. The transaction price consists of a variable sales-based royalty and, in certain arrangements, a fixed component in the form of an up-front lease bonus payment. The timing of the payment of the fixed portion of the transaction price is upfront, however, the performance obligation is satisfied over the primary term of the contract, which is generally five years. Therefore, at the time any such up-front payment is received, a contract liability is recorded which represents deferred revenue. The difference between the opening and closing balance of this contract liability, which is shown above, primarily results from the difference between new lease bonus payments received and amortization of up-front lease bonus payments received in previous periods. The amount of revenue recognized in both of the three months ended September 30, 2021 and 2020 that was included in the opening contract liability was $0.2 million. The amount of revenue recognized in both of the nine months ended September 30, 2021 and 2020 that was included in the opening contract liability was $0.7 million. This revenue consists of up-front lease bonus payments received under royalty contracts that are recognized over the primary term of the royalty contracts, which are generally five years. The Company expects to recognize an additional $0.2 million in the remainder of 2021, $3.8 million in 2022, $0.3 million in 2023, and $0.1 million in 2024 related to the contract liability remaining at September 30, 2021. The difference between the opening and closing balances of the Company’s accounts receivable, contract assets and contract liabilities results from the timing difference between the Company’s performance and the customer’s payment. The Company has no contract assets recognized from the costs to obtain or fulfill a contract with a customer.

Inventories

Inventories	9 Months Ended
Inventories	Sep. 30, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are summarized as follows: SEPTEMBER 30 DECEMBER 31 Coal $ 17,172 $ 17,695 Mining supplies 33,783 29,856 Total inventories $ 50,955 $ 47,551

Stockholders' Equity

Stockholders' Equity	9 Months Ended
Stockholders' Equity	Sep. 30, 2021
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Stock Repurchase Program: During 2019, the Company's Board of Directors approved a stock purchase program ("2019 Stock Repurchase Program") providing for the purchase of up to $25 million of the Company's outstanding Class A Common Stock through December 31, 2021. As a result of the uncertainty surrounding the COVID-19 pandemic, the Company suspended repurchasing shares under the 2019 Stock Repurchase Program in March 2020. Prior to the decision to cease share repurchases, the Company repurchased 32,286 shares of Class A Common Stock under the 2019 Stock Repurchase Program for an aggregate purchase price of $1.0 million during the nine months ended September 30, 2020. The timing and amount of any repurchases under the 2019 Stock Repurchase Program are determined at the discretion of the Company's management based on a number of factors, including the availability of capital, other capital allocation alternatives, market conditions for the Company's Class A Common Stock and other legal and contractual restrictions. The 2019 Stock Repurchase Program does not require the Company to acquire any specific number of shares and may be modified, suspended, extended or terminated by the Company without prior notice and may be executed through open market purchases, privately negotiated transactions or otherwise. All or part of the repurchases under the 2019 Stock Repurchase Program may be implemented under a Rule 10b5-1 trading plan, which would allow repurchases under pre-set terms at times when the Company might otherwise be restricted from doing so under applicable securities laws.

Fair Value Disclosure

Fair Value Disclosure	9 Months Ended
Fair Value Disclosure	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Disclosure	Fair Value Disclosure Recurring Fair Value Measurements : The following table presents the Company's assets and liabilities accounted for at fair value on a recurring basis: Fair Value Measurements at Reporting Date Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Description Date (Level 1) (Level 2) (Level 3) September 30, 2021 Assets: Equity securities $ 15,120 $ 15,120 $ — $ — $ 15,120 $ 15,120 $ — $ — December 31, 2020 Assets: Equity securities $ 13,164 $ 13,164 $ — $ — $ 13,164 $ 13,164 $ — $ — Bellaire Corporation (“Bellaire”) is a non-operating subsidiary of the Company with legacy liabilities relating to closed mining operations, primarily former Eastern U.S. underground coal mining operations. Prior to 2019, Bellaire established a $5.0 million mine water treatment trust (the "Mine Water Treatment Trust") to provide a financial assurance mechanism 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 Company recognized a gain of less than $0.1 million and $1.0 million during the three and nine months ended September 30, 2021, respectively, and a gain of $0.5 million and $0.4 million in the three and nine months ended September 30, 2020, respectively, related to the Mine Water Treatment Trust. During the second quarter of 2020, the Company 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 Company recognized a gain of $0.4 million and $1.6 million during the three and nine months ended September 30, 2021, respectively, and a loss of $0.5 million and $0.1 million in the three and nine months ended September 30, 2020 related to the investment in these equity securities. The gains and losses related to equity securities are reported on the line (Gain) loss on equity securities in the Other (income) expense section of the Unaudited Condensed Consolidated Statements of Operations. There were no transfers into or out of Levels 1, 2 or 3 during the nine months ended September 30, 2021 and 2020.

Unconsolidated Subsidiaries

Unconsolidated Subsidiaries	9 Months Ended
Unconsolidated Subsidiaries	Sep. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
Unconsolidated Subsidiaries	Unconsolidated Subsidiaries Each of the Company's wholly owned Unconsolidated Subsidiaries, within the Coal Mining and NAMining segments, meet the definition of a VIE. The Unconsolidated Subsidiaries are capitalized primarily with debt financing provided by or supported by their respective customers, and generally without recourse to NACCO and NACoal. Although NACoal owns 100% of the equity and manages the daily operations of the Unconsolidated Subsidiaries, the Company has determined that the equity capital provided by NACoal is not sufficient to adequately finance the ongoing activities or absorb any expected losses without additional support from the customers. The customers have a controlling financial interest and have the power to direct the activities that most significantly affect the economic performance of the entities. As a result, the Company is not the primary beneficiary and therefore does not consolidate these entities' financial positions or results of operations. See Note 1 for a discussion of these entities. The Investment in the unconsolidated subsidiaries and related tax positions totaled $19.3 million and $29.0 million at September 30, 2021 and December 31, 2020, respectively. The Company's maximum risk of loss relating to these entities is limited to its invested capital, which was $5.8 million and $6.5 million at September 30, 2021 and December 31, 2020, respectively. Earnings of unconsolidated operations were $17.7 million and $46.5 million during the three and nine months ended September 30, 2021, respectively, and $15.1 million and $44.9 million during the three and nine months ended September 30, 2020, respectively. The contract mining agreement between Bisti and NTEC was terminated effective September 30, 2021. As required under the agreement, NTEC paid the Company a termination fee of $10.3 million. As of October 1, 2021, NTEC assumed control and responsibility for operation and all reclamation of the Navajo Mine. NACoal is a party to certain guarantees related to Coyote Creek. Under certain circumstances of default or termination of Coyote Creek’s Lignite Sales Agreement (“LSA”), NACoal would be obligated for payment of a "make-whole" amount to Coyote Creek’s third-party lenders. The “make-whole” amount is based on the excess, if any, of the discounted value of the remaining scheduled debt payments over the principal amount. In addition, in the event Coyote Creek’s LSA is terminated on or after January 1, 2024 by Coyote Creek’s customers, NACoal is obligated to purchase Coyote Creek’s dragline and rolling stock for the then net book value of those assets. To date, no payments have been required from NACoal since the inception of these guarantees. The Company believes that the likelihood NACoal would be required to perform under the guarantees is remote, and no amounts related to these guarantees have been recorded.

Contingencies

Contingencies	9 Months Ended
Contingencies	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies Various legal and regulatory proceedings and claims have been or may be asserted against NACCO and certain subsidiaries relating to the conduct of their businesses. These proceedings and claims are incidental to the ordinary course of business of the Company. Management believes that it has meritorious defenses and will vigorously defend the Company in these actions. Any costs that management estimates will be paid as a result of these claims are accrued when the liability is considered probable and the amount can be reasonably estimated. If a range of amounts can be reasonably estimated and no amount within the range is a better estimate than any other amount, then the minimum of the range is accrued. The Company does not accrue liabilities when the likelihood that the liability has been incurred is probable but the amount cannot be reasonably estimated or when the liability is believed to be only reasonably possible or remote. For contingencies where an unfavorable outcome is probable or reasonably possible and which are material, the Company discloses the nature of the contingency and, in some circumstances, an estimate of the possible loss. These matters are subject to inherent uncertainties, and unfavorable rulings could occur. If an unfavorable ruling were to occur, there exists the possibility of an adverse impact on the Company’s financial position, results of operations and cash flows of the period in which the ruling occurs, or in future periods.

Business Segments

Business Segments	9 Months Ended
Business Segments	Sep. 30, 2021
Segment Reporting [Abstract]
Business Segments	Business Segments The Company’s operating segments are: (i) Coal Mining, (ii) NAMining and (iii) Minerals Management. The Company determines its reportable segments by first identifying its operating segments, and then by assessing whether any components of these segments constitute a business for which discrete financial information is available and where segment management regularly reviews the operating results of that component. The Company’s Chief Operating Decision Maker utilizes operating profit to evaluate segment performance and allocate resources. The Company has items not directly attributable to a reportable segment that are not included as part of the measurement of segment operating profit, which include primarily administrative costs related to public company reporting requirements at the parent company and the financial results of Mitigation Resources and Bellaire. Mitigation Resources generates and sells stream and wetland mitigation credits (known as mitigation banking) and provides services to those engaged in permittee-responsible stream and wetland mitigation. Bellaire manages the Company’s long-term liabilities related to former Eastern U.S. underground mining activities. 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-Q on a consolidated basis. See Note 1 for additional discussion of the Company's reportable segments. The following tables present revenue, operating profit, depreciation expense and capital expenditures: THREE MONTHS ENDED NINE MONTHS ENDED SEPTEMBER 30 SEPTEMBER 30 2021 2020 2021 2020 Revenues Coal Mining $ 23,682 $ 20,395 $ 70,484 $ 62,896 NAMining 17,693 9,443 51,321 33,115 Minerals Management 10,607 2,722 21,715 9,950 Unallocated Items 1,594 904 2,647 1,257 Eliminations (1,834) (1,169) (3,424) (1,924) Total $ 51,742 $ 32,295 $ 142,743 $ 105,294 Operating profit (loss) Coal Mining $ 23,121 $ 11,174 $ 40,347 $ 25,857 NAMining 312 244 1,225 1,519 Minerals Management 9,454 1,673 17,862 6,450 Unallocated Items (5,170) (3,623) (14,738) (12,341) Eliminations (125) (70) (104) (25) Total $ 27,592 $ 9,398 $ 44,592 $ 21,460 Expenditures for property, plant and equipment and acquisition of mineral interests Coal Mining $ 5,646 $ 3,150 $ 10,378 $ 7,817 NAMining 13,309 3,220 19,127 10,406 Minerals Management 450 633 5,948 1,372 Unallocated Items 2 — 81 207 Total $ 19,407 $ 7,003 $ 35,534 $ 19,802 Depreciation, depletion and amortization Coal Mining $ 4,323 $ 3,793 $ 12,657 $ 10,951 NAMining 1,014 723 2,843 2,021 Minerals Management 423 327 1,392 981 Unallocated Items 36 33 106 91 Total $ 5,796 $ 4,876 $ 16,998 $ 14,044

Nature of Operations and Basi_2

Nature of Operations and Basis of Presentation (Policies)	9 Months Ended
Nature of Operations and Basis of Presentation (Policies)	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation: These financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position of the Company at September 30, 2021, the results of its operations, comprehensive income, cash flows and changes in equity for the nine months ended September 30, 2021 and 2020 have been included. These Unaudited Condensed Consolidated Financial Statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2020. The balance sheet at December 31, 2020 has been derived from the audited financial statements at that date but does not include all of the information or notes required by U.S. GAAP for complete financial statements. Certain amounts in prior period Unaudited Condensed Consolidated Financial Statements have been reclassified to conform to the current period's presentation.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
Revenue Recognition (Tables)	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	THREE MONTHS ENDED NINE MONTHS ENDED SEPTEMBER 30 SEPTEMBER 30 2021 2020 2021 2020 Timing of Revenue Recognition Goods transferred at a point in time $ 20,436 $ 19,871 $ 61,931 $ 61,131 Services transferred over time 31,306 12,424 80,812 44,163 Total revenues $ 51,742 $ 32,295 $ 142,743 $ 105,294
Contract Balances	The opening and closing balances of the Company’s current and long-term accounts receivable, contract assets and contract liabilities are as follows: Contract balances Trade accounts receivable, net Contract asset Contract liability (current) Contract liability (long-term) Balance, January 1, 2021 $ 18,894 $ 4,984 $ 941 $ 3,626 Balance, September 30, 2021 19,127 5,790 824 3,683 Increase (decrease) $ 233 $ 806 $ (117) $ 57

Inventories (Tables)

Inventories (Tables)	9 Months Ended
Inventories (Tables)	Sep. 30, 2021
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories are summarized as follows: SEPTEMBER 30 DECEMBER 31 Coal $ 17,172 $ 17,695 Mining supplies 33,783 29,856 Total inventories $ 50,955 $ 47,551

Fair Value Disclosure (Tables)

Fair Value Disclosure (Tables)	9 Months Ended
Fair Value Disclosure (Tables)	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table presents the Company's assets and liabilities accounted for at fair value on a recurring basis: Fair Value Measurements at Reporting Date Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Description Date (Level 1) (Level 2) (Level 3) September 30, 2021 Assets: Equity securities $ 15,120 $ 15,120 $ — $ — $ 15,120 $ 15,120 $ — $ — December 31, 2020 Assets: Equity securities $ 13,164 $ 13,164 $ — $ — $ 13,164 $ 13,164 $ — $ —

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
Business Segments (Tables)	Sep. 30, 2021
Segment Reporting [Abstract]
Segment Reporting Information	The following tables present revenue, operating profit, depreciation expense and capital expenditures: THREE MONTHS ENDED NINE MONTHS ENDED SEPTEMBER 30 SEPTEMBER 30 2021 2020 2021 2020 Revenues Coal Mining $ 23,682 $ 20,395 $ 70,484 $ 62,896 NAMining 17,693 9,443 51,321 33,115 Minerals Management 10,607 2,722 21,715 9,950 Unallocated Items 1,594 904 2,647 1,257 Eliminations (1,834) (1,169) (3,424) (1,924) Total $ 51,742 $ 32,295 $ 142,743 $ 105,294 Operating profit (loss) Coal Mining $ 23,121 $ 11,174 $ 40,347 $ 25,857 NAMining 312 244 1,225 1,519 Minerals Management 9,454 1,673 17,862 6,450 Unallocated Items (5,170) (3,623) (14,738) (12,341) Eliminations (125) (70) (104) (25) Total $ 27,592 $ 9,398 $ 44,592 $ 21,460 Expenditures for property, plant and equipment and acquisition of mineral interests Coal Mining $ 5,646 $ 3,150 $ 10,378 $ 7,817 NAMining 13,309 3,220 19,127 10,406 Minerals Management 450 633 5,948 1,372 Unallocated Items 2 — 81 207 Total $ 19,407 $ 7,003 $ 35,534 $ 19,802 Depreciation, depletion and amortization Coal Mining $ 4,323 $ 3,793 $ 12,657 $ 10,951 NAMining 1,014 723 2,843 2,021 Minerals Management 423 327 1,392 981 Unallocated Items 36 33 106 91 Total $ 5,796 $ 4,876 $ 16,998 $ 14,044

Nature of Operations and Basi_3

Nature of Operations and Basis of Presentation (Narrative) (Details) $ in Thousands, T in Millions	Jun. 17, 2021USD ($)	Sep. 30, 2021USD ($)	Jun. 30, 2021USD ($)a	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)operatingSegment	Sep. 30, 2020USD ($)	Dec. 31, 2020T
Long-term Purchase Commitment [Line Items]
Number of operating segments \| operatingSegment					3
Contract termination settlement		$ 10,333		$ 0	$ 10,333	$ 0
Coal Mining \| Midwest AgEnergy
Long-term Purchase Commitment [Line Items]
Investment		5,000			5,000
Coal Mining \| Falkirk
Long-term Purchase Commitment [Line Items]
Contract termination settlement	$ 14,000
Coal Mining \| Falkirk \| Maximum
Long-term Purchase Commitment [Line Items]
Possible additional payment from cancelation of agreement		8,000			8,000
Coal Mining \| Falkirk \| Minimum
Long-term Purchase Commitment [Line Items]
Possible additional payment from cancelation of agreement		$ 2,000			2,000
Coal Mining \| Falkirk \| Long-term Contract with Customer
Long-term Purchase Commitment [Line Items]
Historical lignite coal annual delivery \| T							0.3
Coal Mining \| Bisti
Long-term Purchase Commitment [Line Items]
Contract termination settlement					$ 10,300
Minerals Management \| Eagle Ford Basin
Long-term Purchase Commitment [Line Items]
Gross acres acquired \| a			14,100
Net royalty acres acquired \| a			1,700
Payments to acquire royalty interests			$ 4,700
Additional payment to acquire assets			600
Total additional payment to acquire assets			1,200
Minerals Management \| Delaware Basin
Long-term Purchase Commitment [Line Items]
Payments to acquire royalty interests			$ 300

Revenue Recognition (Narrative)

Revenue Recognition (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Primary term of contract			5 years
Performance obligations satisfied in prior period, amount recognized	$ 1.8
Revenue recognized in contract liability	0.2	$ 0.2	$ 0.7	$ 0.7
Contract assets recognized	$ 0		$ 0

Revenue Recognition (Disaggrega

Revenue Recognition (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 51,742	$ 32,295	$ 142,743	$ 105,294
Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	20,436	19,871	61,931	61,131
Services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	$ 31,306	$ 12,424	$ 80,812	$ 44,163

Revenue Recognition (Contract B

Revenue Recognition (Contract Balances) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Trade accounts receivable, net
Balance, January 1, 2021	$ 18,894
Balance, September 30, 2021	19,127
Increase (decrease) in trade accounts receivables, net	233
Contract asset (long-term)
Balance, January 1, 2021	4,984
Balance, September 30, 2021	5,790
Increase (decrease) in contract asset (long-term)	806
Contract liability (current)
Balance, January 1, 2021	941
Balance, September 30, 2021	824
Increase (decrease) in contract liability (current)	(117)
Contract liability (long-term)
Balance, January 1, 2021	3,626
Balance, September 30, 2021	3,683
Increase (decrease) in contract liability (long-term)	$ 57

Revenue Recognition (Remaining

Revenue Recognition (Remaining Performance Obligations) (Details) $ in Millions	Sep. 30, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Revenue from Contract with Customer [Abstract]
Revenue expected to be recognized	$ 0.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue from Contract with Customer [Abstract]
Revenue expected to be recognized	$ 3.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue from Contract with Customer [Abstract]
Revenue expected to be recognized	$ 0.3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue from Contract with Customer [Abstract]
Revenue expected to be recognized	$ 0.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction	1 year

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Coal	$ 17,172	$ 17,695
Mining supplies	33,783	29,856
Total inventories	$ 50,955	$ 47,551

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Common stock repurchased	$ 1,002
Class A Common Stock \| 2019 Stock Repurchase Program
Class of Stock [Line Items]
Stock repurchase program, authorized amount			$ 25,000
Common stock repurchased (in shares)		32,286
Common stock repurchased		$ 1,000

Fair Value Disclosure (On a Rec

Fair Value Disclosure (On a Recurring Basis) (Details) - Fair value measurements, recurring - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Level 1
Assets:
Equity securities	$ 15,120	$ 13,164
Assets at fair value	15,120	13,164
Level 2
Assets:
Equity securities	0	0
Assets at fair value	0	0
Level 3
Assets:
Equity securities	0	0
Assets at fair value	0	0
Total
Assets:
Equity securities	15,120	13,164
Assets at fair value	$ 15,120	$ 13,164

Fair Value Disclosure (Narrativ

Fair Value Disclosure (Narrative) (Details) - Level 1 - Fair value measurements, recurring - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized gain (loss) on equity securities	$ 0.4	$ (0.5)	$ 1.6	$ (0.1)
Bellaire
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized gain (loss) on equity securities	$ 0.1	$ 0.5	$ 1	$ 0.4
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities cost					$ 2
Carrying Value \| Bellaire
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities cost						$ 5

Unconsolidated Subsidiaries (Na

Unconsolidated Subsidiaries (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Variable Interest Entity [Line Items]
Investments in unconsolidated subsidiaries and related tax positions	$ 19,312		$ 19,312		$ 28,978
Variable interest entity, reporting entity involvement, maximum risk of loss	5,800		5,800		6,500
Earnings of unconsolidated operations	17,652	$ 15,145	46,536	$ 44,926
Contract termination settlement	10,333	$ 0	10,333	$ 0
Coal Mining \| Bisti
Variable Interest Entity [Line Items]
Contract termination settlement			10,300
Other noncurrent assets
Variable Interest Entity [Line Items]
Investments in unconsolidated subsidiaries and related tax positions	$ 19,300		$ 19,300		$ 29,000

Business Segments (Details)

Business Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Business Segments (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Revenues	$ 51,742	$ 32,295	$ 142,743	$ 105,294
Operating profit (loss)	27,592	9,398	44,592	21,460
Expenditures for property, plant and equipment and acquisition of mineral interests	19,407	7,003	35,534	19,802
Depreciation, depletion and amortization	5,796	4,876	16,998	14,044
Operating segments \| Coal Mining
Segment Reporting Information [Line Items]
Revenues	23,682	20,395	70,484	62,896
Operating profit (loss)	23,121	11,174	40,347	25,857
Expenditures for property, plant and equipment and acquisition of mineral interests	5,646	3,150	10,378	7,817
Depreciation, depletion and amortization	4,323	3,793	12,657	10,951
Operating segments \| NAMining
Segment Reporting Information [Line Items]
Revenues	17,693	9,443	51,321	33,115
Operating profit (loss)	312	244	1,225	1,519
Expenditures for property, plant and equipment and acquisition of mineral interests	13,309	3,220	19,127	10,406
Depreciation, depletion and amortization	1,014	723	2,843	2,021
Operating segments \| Minerals Management
Segment Reporting Information [Line Items]
Revenues	10,607	2,722	21,715	9,950
Operating profit (loss)	9,454	1,673	17,862	6,450
Expenditures for property, plant and equipment and acquisition of mineral interests	450	633	5,948	1,372
Depreciation, depletion and amortization	423	327	1,392	981
Unallocated Items
Segment Reporting Information [Line Items]
Revenues	1,594	904	2,647	1,257
Operating profit (loss)	(5,170)	(3,623)	(14,738)	(12,341)
Expenditures for property, plant and equipment and acquisition of mineral interests	2	0	81	207
Depreciation, depletion and amortization	36	33	106	91
Eliminations
Segment Reporting Information [Line Items]
Revenues	(1,834)	(1,169)	(3,424)	(1,924)
Operating profit (loss)	$ (125)	$ (70)	$ (104)	$ (25)