NACCO Industries (NC) 10-Q2 Aug 232023 Q2 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2023	Jul. 28, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
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	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false
Shares Outstanding Class A
Entity Information [Line Items]
Shares Outstanding (in shares)		5,954,638
Shares Outstanding Class B
Entity Information [Line Items]
Shares Outstanding (in shares)		1,565,829

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents	$ 117,016	$ 110,748
Inventories	65,210	71,488
Federal income tax receivable	4,272	15,687
Prepaid insurance	7,150	1,999
Other current assets	12,826	15,907
Total current assets	262,111	260,407
Property, plant and equipment, net	224,302	217,952
Intangibles, net	26,401	28,055
Investments in unconsolidated subsidiaries	11,064	14,927
Operating lease right-of-use assets	6,121	6,419
Other non-current assets	41,511	40,312
Total assets	571,510	568,072
LIABILITIES AND EQUITY
Current maturities of long-term debt	3,675	3,649
Asset retirement obligations	2,497	1,746
Accrued payroll	9,849	18,105
Deferred revenue	1,122	833
Other current liabilities	7,312	6,623
Total current liabilities	37,511	44,270
Long-term debt	20,054	16,019
Operating lease liabilities	7,048	7,528
Asset retirement obligations	46,890	44,256
Pension and other postretirement obligations	4,307	5,082
Deferred income taxes	4,746	6,122
Liability for uncertain tax positions	9,004	9,329
Other long-term liabilities	8,552	8,500
Total liabilities	138,112	141,106
Common stock:
Capital in excess of par value	24,906	23,706
Retained earnings	409,946	404,924
Accumulated other comprehensive loss	(8,974)	(9,013)
Total stockholders' equity	433,398	426,966
Total liabilities and equity	571,510	568,072
Nonrelated Party
ASSETS
Trade accounts receivable and sccounts receivable from affiliates	46,047	37,940
LIABILITIES AND EQUITY
Accounts payable and accounts payable to affiliates	12,898	11,952
Affiliated Entity
ASSETS
Trade accounts receivable and sccounts receivable from affiliates	9,590	6,638
LIABILITIES AND EQUITY
Accounts payable and accounts payable to affiliates	158	1,362
Class A Common Stock
Common stock:
Common stock	5,954	5,783
Class B Common Stock
Common stock:
Common stock	$ 1,566	$ 1,566

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical)	Jun. 30, 2023 $ / shares shares	Dec. 31, 2022 $ / shares shares
Class A Common Stock
Common stock, par value (in dollars per share) \| $ / shares	$ 1	$ 1
Common stock, shares outstanding (in shares) \| shares	5,954,538	5,782,944
Class B Common Stock
Common stock, par value (in dollars per share) \| $ / shares	$ 1	$ 1
Common stock, shares outstanding (in shares) \| shares	1,565,929	1,566,129
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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenues	$ 61,350	$ 61,369	$ 111,491	$ 116,392
Cost of sales	54,943	45,726	101,727	84,902
Gross profit	6,407	15,643	9,764	31,490
Earnings of unconsolidated operations	11,084	14,622	24,908	29,214
Contract termination settlement	0	14,000	0	14,000
Operating expenses
Selling, general and administrative expenses	14,746	15,841	29,622	30,625
Amortization of intangible assets	927	1,058	1,654	1,905
Loss (gain) on sale of assets	68	(2,317)	(168)	(2,453)
Operating expenses	15,741	14,582	31,108	30,077
Operating profit	1,750	29,683	3,564	44,627
Other (income) expense
Interest expense	572	496	1,117	1,009
Interest income	(1,714)	(195)	(2,869)	(340)
Closed mine obligations	433	377	842	757
(Gain) loss on equity securities	(421)	1,878	(1,049)	1,360
Other contract termination settlements	0	(16,882)	0	(16,882)
Other, net	(377)	(1,064)	(2,102)	(1,294)
Other (income) expense	(1,507)	(15,390)	(4,061)	(15,390)
Income before income tax provision (benefit)	3,257	45,073	7,625	60,017
Income tax provision (benefit)	737	7,893	(587)	10,255
Net income	$ 2,520	$ 37,180	$ 8,212	$ 49,762
Earnings per share:
Basic earnings per share (in dollars per share)	$ 0.34	$ 5.07	$ 1.10	$ 6.83
Diluted earnings per share (in dollars per share)	$ 0.34	$ 5.07	$ 1.09	$ 6.79
Basic weighted average shares outstanding (in shares)	7,513	7,330	7,465	7,286
Diluted weighted average shares outstanding (in shares)	7,513	7,330	7,515	7,325

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 2,520	$ 37,180	$ 8,212	$ 49,762
Reclassification of pension and postretirement adjustments into earnings, net of $6 and $12 tax benefit in the three and six months ended June 30, 2023, respectively, and net of $32 and $67 tax benefit in the three and six months ended June 30, 2022, respectively.	18	118	39	236
Total other comprehensive income	18	118	39	236
Comprehensive income	$ 2,538	$ 37,298	$ 8,251	$ 49,998

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Reclassification of pension and postretirement adjustments into earnings, tax benefit	$ 6	$ 32	$ 12	$ 67

UNAUDITED CONDENSED CONSOLIDA_6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating activities
Net cash provided by operating activities	$ 23,287	$ 40,481
Investing activities
Expenditures for property, plant and equipment and acquisition of mineral interests	(14,135)	(24,918)
Proceeds from the sale of property, plant and equipment	298	2,824
Proceeds from the sale of private company equity units	1,153	0
Other	(15)	(22)
Net cash used for investing activities	(12,699)	(22,116)
Financing activities
Additions to long-term debt	1,121	1,109
Reductions of long-term debt	(2,251)	(1,400)
Net reductions to revolving credit agreements	0	(4,000)
Cash dividends paid	(3,190)	(2,966)
Net cash used for financing activities	(4,320)	(7,257)
Cash and cash equivalents
Total increase for the period	6,268	11,108
Balance at the beginning of the period	110,748	86,005
Balance at the end of the period	$ 117,016	$ 97,113

UNAUDITED CONDENSED CONSOLIDA_7

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Common Stock Class A Common Stock	Common Stock Class B Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Balance, beginning of period at Dec. 31, 2021	$ 352,116	$ 5,616	$ 1,567	$ 16,331	$ 336,778	$ (8,176)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1,123	145		978
Conversion of Class B to Class A shares	0	1	(1)
Net income	12,582				12,582
Cash dividends on Class A and Class B common stock	(1,445)				(1,445)
Reclassification adjustment to net income, net of tax	118					118
Balance, end of period at Mar. 31, 2022	364,494	5,762	1,566	17,309	347,915	(8,058)
Balance, beginning of period at Dec. 31, 2021	352,116	5,616	1,567	16,331	336,778	(8,176)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	49,762
Balance, end of period at Jun. 30, 2022	402,603	5,769	1,566	19,634	383,574	(7,940)
Balance, beginning of period at Mar. 31, 2022	364,494	5,762	1,566	17,309	347,915	(8,058)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	2,332	7		2,325
Net income	37,180				37,180
Cash dividends on Class A and Class B common stock	(1,521)				(1,521)
Reclassification adjustment to net income, net of tax	118					118
Balance, end of period at Jun. 30, 2022	402,603	5,769	1,566	19,634	383,574	(7,940)
Balance, beginning of period at Dec. 31, 2022	426,966	5,783	1,566	23,706	404,924	(9,013)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	564	161		403
Net income	5,692				5,692
Cash dividends on Class A and Class B common stock	(1,557)				(1,557)
Reclassification adjustment to net income, net of tax	21					21
Balance, end of period at Mar. 31, 2023	431,686	5,944	1,566	24,109	409,059	(8,992)
Balance, beginning of period at Dec. 31, 2022	426,966	5,783	1,566	23,706	404,924	(9,013)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	8,212
Balance, end of period at Jun. 30, 2023	433,398	5,954	1,566	24,906	409,946	(8,974)
Balance, beginning of period at Mar. 31, 2023	431,686	5,944	1,566	24,109	409,059	(8,992)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	807	10		797
Net income	2,520				2,520
Cash dividends on Class A and Class B common stock	(1,633)				(1,633)
Reclassification adjustment to net income, net of tax	18					18
Balance, end of period at Jun. 30, 2023	$ 433,398	$ 5,954	$ 1,566	$ 24,906	$ 409,946	$ (8,974)

UNAUDITED CONDENSED CONSOLIDA_8

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Cash dividends on common stock (in dollars per share)	$ 0.2175	$ 0.2075	$ 0.2075	$ 0.1975

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	6 Months Ended
Nature of Operations and Basis of Presentation	Jun. 30, 2023
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. The NAMining segment is a trusted mining partner for producers of aggregates, activated carbon, lithium and other industrial minerals. The Minerals Management segment, which includes the Catapult Mineral Partners ("Catapult") business, acquires and promotes the development of mineral interests. 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. The Company’s operating segments are further described below: Coal Mining Segment The Coal Mining segment, operating as North American Coal, LLC ("NACoal"), operates surface coal mines under long-term contracts with power generation companies pursuant to a service-based business model. Coal is surface mined in North Dakota and Mississippi. Each mine is fully integrated with its customer's operations. During the three and six months ended June 30, 2023, the Coal Mining segment's operating coal mines were: The Coteau Properties Company (“Coteau”), Coyote Creek Mining Company, LLC (“Coyote Creek”), The Falkirk Mining Company (“Falkirk”) and Mississippi Lignite Mining Company (“MLMC”). The Sabine Mining Company (“Sabine”) operates the Sabine Mine in Texas. All production from Sabine was delivered to Southwestern Electric Power Company's (“SWEPCO”) Henry W. Pirkey Plant (the “Pirkey Plant”). SWEPCO is an American Electric Power (“AEP”) company. As a result of the early retirement of the Pirkey Plant, Sabine ceased deliveries in the first quarter of 2023 and final reclamation began on April 1, 2023. Funding for mine reclamation is the responsibility of SWEPCO, and Sabine receives compensation for providing mine reclamation services. The United States Environmental Protection Agency (the “EPA”) has a comprehensive regulatory program to manage the disposal of coal combustion residuals (“CCR”) from coal-fired power plants as non-hazardous material under the Resource Conservation and Recovery Act (“RCRA”). Individual states administer some or all of the RCRA provisions. The North Dakota Department of Environmental Quality approved Falkirk’s customer's plan for an alternate disposal liner to store coal ash at the Coal Creek Station power plant. In the first quarter of 2023, the EPA proposed to deny the application. If denied, a new liner or new waste management unit(s) may need to be installed which could result in the temporary suspension of operations at Coal Creek Station. To minimize any impact to operations, Coal Creek Station is moving forward with plans to dry CCR materials produced by the plant, reducing the need to utilize the lined area in question. Falkirk is the sole supplier of lignite coal to Coal Creek Station. Any suspension of operations at Coal Creek Station would eliminate the need for lignite coal during the suspension period. Any such suspension of operations at Coal Creek Station or any of the power plants supplied by the Company's mines could have a material adverse effect on the Company’s business, financial condition and results of operations. See the Government Regulation Update on page 19 of this Quarterly Report on Form 10-Q for further information. MLMC is the exclusive supplier of lignite to the Red Hills Power Plant in Ackerman, Mississippi. Choctaw Generation Limited Partnership ("CGLP") leases the Red Hills Power Plant from a Southern Company subsidiary pursuant to a leveraged lease arrangement. CGLP's ability to make required payments to the Southern Company subsidiary is dependent on the operational performance of the Red Hills Power Plant. During 2022, Southern Company disclosed that it provided notice to the lessee, CGLP, to terminate the related operating and maintenance agreement effective June 30, 2023. Subsequently, CGLP failed to make the semi-annual lease payment due in December 2022, and as a result, the Southern Company subsidiary was unable to make its corresponding payment to the debtholders. The parties to the lease have entered into a forbearance agreement which suspends the related contractual rights of the parties while they continue restructuring negotiations, which could result in rescission of the termination notice. The ultimate outcome of this matter cannot be determined at this time but could have a material impact on the Company's financial statements if the operating and maintenance agreement is terminated. At Coteau, Coyote Creek and Falkirk, 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 the Company. See Note 6 for further discussion of Coyote Creek's guarantees. Coteau, Coyote Creek, Falkirk and Sabine 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 (benefit) provision 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 Company performs contemporaneous reclamation activities at each mine in the normal course of operations. Under all of the Unconsolidated Subsidiaries’ contracts, the customer has the obligation to fund final mine reclamation activities. Under certain contracts, the Unconsolidated Subsidiary holds the mine permit and is therefore responsible for final mine reclamation activities. To the extent the Unconsolidated Subsidiary performs such final reclamation, it is compensated for providing those services in addition to receiving reimbursement from customers for costs incurred. 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. Profitability at MLMC is affected by customer demand for coal and changes in the indices that determine sales price and actual costs incurred. As diesel fuel is heavily weighted among the indices used to determine the coal sales price, fluctuations in diesel fuel prices can result in significant fluctuations in earnings at MLMC. NAMining Segment The NAMining segment provides value-added contract mining and other services for producers of industrial minerals. The segment is a platform for the Company’s growth and diversification of mining activities outside of the thermal 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. As of June 30, 2023, NAMining operates in Florida, Texas, Arkansas, Indiana, Virginia and Nebraska. Sawtooth Mining, LLC ("Sawtooth") provides comprehensive mining services as the exclusive contract miner for the Thacker Pass lithium project in northern Nevada. 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. The Minerals Management segment owns royalty interests, mineral interests, non-participating royalty interests and overriding royalty interests. • Royalty Interest. Royalty interests generally result when the owner of a mineral interest leases the underlying minerals to an exploration and production company pursuant to an oil and gas lease. Typically, the resulting royalty interest is a cost-free percentage of production revenues for minerals extracted from the acreage. A holder of royalty interests is generally not responsible for capital expenditures or lease operating expenses, but royalty interests may be calculated net of post-production expenses, and typically has no environmental liability. Royalty interests leased to producers expire upon the expiration of the oil and gas lease and revert to the mineral owner. • Mineral Interest. Mineral interests are perpetual rights of the owner to explore, develop, exploit, mine and/or produce any or all of the minerals lying below the surface of the property. The holder of a mineral interest has the right to lease the minerals to an exploration and production company. Upon the execution of an oil and gas lease, the lessee (the exploration and production company) becomes the working interest owner and the lessor (the mineral interest owner) has a royalty interest. • Non-Participating Royalty Interest (“NPRIs”). NPRI is an interest in oil and gas production which is created from the mineral estate. The NPRI is expense-free, bearing no operational costs of production. The term “non-participating” indicates that the interest owner does not share in the bonus, rentals from a lease, nor the right to participate in the execution of oil and gas leases. The NPRI owner does, however, typically receive royalty payments. • Overriding Royalty Interest (“ORRIs”). ORRIs are created by carving out the right to receive royalties from a working interest. Like royalty interests, ORRIs do not confer an obligation to make capital expenditures or pay for lease operating expenses and have limited environmental liability; however, ORRIs may be calculated net of post-production expenses, depending on how the ORRI is structured. ORRIs that are carved out of working interests are linked to the same underlying oil and gas lease that created the working interest, and therefore, such ORRIs are typically subject to expiration upon the expiration or termination of the oil and gas lease. The Company may own more than one type of mineral and royalty interest in the same tract of land. For example, where the Company owns an ORRI in a lease on the same tract of land in which it owns a mineral interest, the ORRI in that tract will relate to the same gross acres as the mineral interest in that tract. The Minerals Management segment will benefit from the continued development of its mineral properties without the need for investment of additional capital once mineral and royalty interests have been acquired. The Minerals Management segment does not currently have any material investments under which it would be required to bear the cost of exploration, production or development. The Company also manages legacy royalty and mineral interests 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, 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. Other Items: On May 2, 2022, Great River Energy (“GRE”) completed the sale of Coal Creek Station and the adjacent high-voltage direct current transmission line to Rainbow Energy Center, LLC (“Rainbow Energy”) and its affiliates. The Coal Sales Agreement (“CSA”) between Falkirk and Rainbow Energy became effective upon the closing of the transaction. Falkirk continues to supply all coal requirements of Coal Creek Station and is paid a management fee per ton of coal delivered. To support the transfer to new ownership, Falkirk agreed to a reduction in the current per ton management fee from the effective date of the CSA through May 31, 2024. After May 31, 2024, the per ton management fee increases to a higher base in line with 2021 fee levels, and thereafter adjusts annually according to an index which tracks broad measures of U.S. inflation. Rainbow Energy is responsible for funding all mine operating costs, including mine reclamation, and directly or indirectly providing all of the capital required to operate the mine. The initial production period is expected to run through May 1, 2032, but the CSA may be extended or terminated early under certain circumstances. The Company recognized a gain of $30.9 million within the accompanying Unaudited Condensed Consolidated Statements of Operations during the second quarter of 2022 as GRE paid $14.0 million in cash, as well as transferred ownership of an office building with an estimated fair value of $4.1 million, and conveyed membership units in Midwest AgEnergy Group, LLC (“MAG”), a North Dakota-based ethanol business, with an estimated fair value at the transfer date of $12.8 million. Prior to receiving the membership units from GRE, the Company held a $5.0 million investment in MAG carried at cost, less impairment. Subsequent to the receipt of the additional membership units, the Company began to account for the investment under the equity method of accounting. On December 1, 2022, the Company transferred its ownership interest in Midwest AgEnergy, LLC to HLCP Ethanol Holdco, LLC (“HLCP”) and received a cash payment of $18.6 million during the fourth quarter of 2022. The Company received a payment of $1.2 million in the first quarter of 2023 in connection with a post-closing purchase price adjustment, which is included on the line "Other, net" within the accompanying Unaudited Consolidated Statements of Operations. The HLCP acquisition agreement includes two contingent earn-out arrangements under which additional payments are possible. The first earn-out is based on the achievement of EBITDA targets through December 31, 2024. The second earn-out is based on the development of a carbon dioxide pipeline that will support a carbon dioxide sequestration project over a four-year period commencing on the transaction closing date. Additional payments to NACCO could range from $0 to approximately $12.9 million based on achievement of the two earn-outs as well as payment of amounts held in escrow to address potential indemnity claims during the 12-month period following the transaction date. Any future payments associated with the earn-outs or amounts held in escrow will be recognized when realized, consistent with the accounting for gain contingencies. During the first quarter of 2023, the Company’s wholly-owned subsidiary, Caddo Creek Resources Company (“Caddo Creek”), acquired 100% of the membership interests in the Marshall Mine located outside of Marshall, Texas from Advanced Emissions Solutions (“ADES”). Prior to the acquisition, Caddo Creek was performing mine reclamation under a fixed price contract with ADES. The Company received $2.2 million of cash, assumed the asset retirement obligation estimated to be approximately $1.9 million and recognized a gain of approximately $0.3 million in the first quarter of 2023. 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 June 30, 2023, the results of its operations, comprehensive income, cash flows and changes in equity for the six months ended June 30, 2023 and 2022 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, 2022. The balance sheet at December 31, 2022 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.

Revenue Recognition

Revenue Recognition	6 Months Ended
Revenue Recognition	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Nature of Performance Obligations 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 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. At NAMining, the management service is primarily 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. Revenue from part sales is recognized upon transfer of control of the parts to the customer. The Minerals Management segment enters into contracts which grant third-party lessees 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 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 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 three 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. Each mitigation credit sale is considered a separate performance obligation. Revenue is recognized at the point in time that control of each mitigation credit transfers to the customer. Fluctuations in revenue from period to period generally result from changes in customer demand. Under the permittee-responsible stream and wetland mitigation model, the contracts are generally structured as agreements under which Mitigation Resources is reimbursed for all costs incurred in performing the required mitigation plus an agreed profit percentage or a fixed fee. The mitigation services provided is the performance obligation and is accounted for as a series. Performance momentarily creates an asset that the customer simultaneously receives and consumes; therefore, control is transferred to the customer as work is completed. 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. Fluctuations in revenue from period to period result from changes in customer demand primarily due to increases and decreases in activity levels of individual contracts and variances in reimbursable costs. 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. 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 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. At the Thacker Pass lithium project, in addition to management fee income, the customer will reimburse Sawtooth for up to $50 million of capital expenditures. The amount is variable until the equipment is acquired. At the time the equipment is acquired, the variability is resolved as the compensation is fixed. Sawtooth will recognize revenue over the estimated useful life of the asset on a straight-line basis as the performance obligation is satisfied over time. Sawtooth began acquiring equipment for this project during the first half of 2023. Revenue recognized by Sawtooth in connection with its capital assets was immaterial in the three and six months ended June 30, 2023. 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 "Trade 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 six months ended June 30, 2023, royalty income recognized in the reporting period related to performance obligations satisfied in prior reporting periods was $1.4 million. For the three months ended June 30, 2022, royalty income recognized in the reporting period related to performance obligations satisfied in prior reporting periods was immaterial. For the six months ended June 30, 2022, royalty income of $2.1 million was recognized for a settlement related to the Company’s ownership interest in certain mineral rights. 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 SIX MONTHS ENDED JUNE 30 JUNE 30 2023 2022 2023 2022 Timing of Revenue Recognition Goods transferred at a point in time $ 25,729 $ 25,986 $ 45,875 $ 46,359 Services transferred over time 35,621 35,383 65,616 70,033 Total revenues $ 61,350 $ 61,369 $ 111,491 $ 116,392 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 Contract asset (current) Contract asset Contract liability (current) Contract liability (long-term) Balance, January 1, 2023 $ 37,940 $ 409 $ 5,985 $ 833 $ 1,709 Balance, June 30, 2023 46,047 — 3,559 1,122 1,626 Increase (decrease) $ 8,107 $ (409) $ (2,426) $ 289 $ (83) 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 three three The Company expects to recognize an additional $0.8 million in the remainder of 2023, $1.5 million in 2024, $0.3 million in 2025 and $0.1 million in both 2026 and 2027 related to the contract liability remaining at June 30, 2023. The difference between the opening and closing balances of the Company’s contract balances 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	6 Months Ended
Inventories	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are summarized as follows: JUNE 30 DECEMBER 31 Coal $ 17,555 $ 27,927 Mining supplies 47,655 43,561 Total inventories $ 65,210 $ 71,488 During the three and six months ended June 30, 2023, the Company recorded a $1.8 million and $4.2 million inventory impairment charge, respectively, in the line “Cost of sales” in the accompanying Unaudited Consolidated Statements of Operations as mining costs exceeded net realizable value at MLMC.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
Stockholders' Equity	Jun. 30, 2023
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Stock Repurchase Program: On November 10, 2021, the Company's Board of Directors approved a stock repurchase program ("2021 Stock Repurchase Program") providing for the purchase of up to $20.0 million of the Company’s outstanding Class A common stock through December 31, 2023. The timing and amount of any repurchases under the 2021 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 2021 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 2021 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. The Company has not repurchased any shares of common stock under the 2021 Stock Repurchase Program through June 30, 2023.

Fair Value Disclosure

Fair Value Disclosure	6 Months Ended
Fair Value Disclosure	Jun. 30, 2023
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) June 30, 2023 Assets: Equity securities $ 16,641 $ 16,641 $ — $ — $ 16,641 $ 16,641 $ — $ — December 31, 2022 Assets: Equity securities $ 15,534 $ 15,534 $ — $ — $ 15,534 $ 15,534 $ — $ — 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 2022, Bellaire contributed $5.0 million to establish a mine water treatment trust (the "Mine Water Treatment Trust") 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 $0.5 million and $1.0 million during the three and six months ended June 30, 2023, respectively, and a loss of $1.5 million and $2.1 million during the three and six months ended June 30, 2022, respectively, related to the Mine Water Treatment Trust. Prior to 2022, 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 loss of $0.1 million and a de minimis gain during the three and six months ended June 30, 2023, respectively, and a loss of $0.4 million and a gain of $0.8 million during the three and six months ended June 30, 2022, respectively, related to the investment in these equity securities. The change in fair value of equity securities is reported on the line (Gain) loss on equity securities in the Other (income) expense section of the Unaudited Condensed Consolidated Statements of Operations. Nonrecurring Fair Value Measurements : The Company recorded the estimated fair value of an office building during the second quarter of 2022. In determining the $4.1 million fair value of the office building, the Company engaged an independent real estate appraiser to appraise the property utilizing observed sales transactions for similar assets as well as consideration of an income approach; therefore, it is classified as Level 2 within the fair value hierarchy. The office building is included in Property, plant and equipment, net in the accompanying Unaudited Condensed Consolidated Balance Sheets. There were no transfers into or out of Levels 1, 2 or 3 during the six months ended June 30, 2023 and 2022.

Unconsolidated Subsidiaries

Unconsolidated Subsidiaries	6 Months Ended
Unconsolidated Subsidiaries	Jun. 30, 2023
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 the Company. Although the Company owns 100% of the equity and manages the daily operations of the Unconsolidated Subsidiaries, the Company has determined that the equity capital provided by the Company 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 $11.1 million and $14.9 million at June 30, 2023 and December 31, 2022, respectively. The Company's maximum risk of loss relating to these entities is limited to its invested capital, which was $4.2 million and $7.1 million at June 30, 2023 and December 31, 2022, respectively. Earnings of unconsolidated operations were $11.1 million and $24.9 million during the three and six months ended June 30, 2023, respectively, and $14.6 million and $29.2 million during the three and six months ended June 30, 2022, respectively. 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	6 Months Ended
Contingencies	Jun. 30, 2023
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	6 Months Ended
Business Segments	Jun. 30, 2023
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 (benefit) provision for income taxes and net income) are presented and discussed within this Form 10-Q on a consolidated basis. The following table presents revenues, operating profit (loss), expenditures for property, plant and equipment and acquisition of mineral interests and depreciation, depletion and amortization expense: THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30 JUNE 30 2023 2022 2023 2022 Revenues Coal Mining $ 26,343 $ 26,602 $ 46,996 $ 47,564 NAMining 21,716 22,814 42,349 44,218 Minerals Management 9,171 11,962 17,456 24,716 Unallocated Items 4,628 617 5,819 809 Eliminations (508) (626) (1,129) (915) Total $ 61,350 $ 61,369 $ 111,491 $ 116,392 Operating profit (loss) Coal Mining $ (4,675) $ 21,175 $ (4,362) $ 28,527 NAMining 2,214 1,257 3,044 2,528 Minerals Management 7,289 13,073 13,333 24,701 Unallocated Items (3,065) (5,952) (8,418) (11,391) Eliminations (13) 130 (33) 262 Total $ 1,750 $ 29,683 $ 3,564 $ 44,627 THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30 JUNE 30 2023 2022 2023 2022 Expenditures for property, plant and equipment and acquisition of mineral interests Coal Mining $ 1,032 $ 6,280 $ 3,718 $ 8,000 NAMining 4,507 6,561 8,930 8,381 Minerals Management 638 116 982 949 Unallocated Items 79 7,312 505 7,588 Total $ 6,256 $ 20,269 $ 14,135 $ 24,918 Depreciation, depletion and amortization Coal Mining $ 4,348 $ 4,388 $ 8,588 $ 8,426 NAMining 1,855 1,493 3,741 2,960 Minerals Management 749 543 1,560 1,121 Unallocated Items 138 64 220 108 Total $ 7,090 $ 6,488 $ 14,109 $ 12,615

Nature of Operations and Basi_2

Nature of Operations and Basis of Presentation (Policies)	6 Months Ended
Nature of Operations and Basis of Presentation (Policies)	Jun. 30, 2023
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 June 30, 2023, the results of its operations, comprehensive income, cash flows and changes in equity for the six months ended June 30, 2023 and 2022 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, 2022. The balance sheet at December 31, 2022 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.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
Revenue Recognition (Tables)	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30 JUNE 30 2023 2022 2023 2022 Timing of Revenue Recognition Goods transferred at a point in time $ 25,729 $ 25,986 $ 45,875 $ 46,359 Services transferred over time 35,621 35,383 65,616 70,033 Total revenues $ 61,350 $ 61,369 $ 111,491 $ 116,392
Schedule of 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 Contract asset (current) Contract asset Contract liability (current) Contract liability (long-term) Balance, January 1, 2023 $ 37,940 $ 409 $ 5,985 $ 833 $ 1,709 Balance, June 30, 2023 46,047 — 3,559 1,122 1,626 Increase (decrease) $ 8,107 $ (409) $ (2,426) $ 289 $ (83)

Inventories (Tables)

Inventories (Tables)	6 Months Ended
Inventories (Tables)	Jun. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories are summarized as follows: JUNE 30 DECEMBER 31 Coal $ 17,555 $ 27,927 Mining supplies 47,655 43,561 Total inventories $ 65,210 $ 71,488

Fair Value Disclosure (Tables)

Fair Value Disclosure (Tables)	6 Months Ended
Fair Value Disclosure (Tables)	Jun. 30, 2023
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) June 30, 2023 Assets: Equity securities $ 16,641 $ 16,641 $ — $ — $ 16,641 $ 16,641 $ — $ — December 31, 2022 Assets: Equity securities $ 15,534 $ 15,534 $ — $ — $ 15,534 $ 15,534 $ — $ —

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
Business Segments (Tables)	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	The following table presents revenues, operating profit (loss), expenditures for property, plant and equipment and acquisition of mineral interests and depreciation, depletion and amortization expense: THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30 JUNE 30 2023 2022 2023 2022 Revenues Coal Mining $ 26,343 $ 26,602 $ 46,996 $ 47,564 NAMining 21,716 22,814 42,349 44,218 Minerals Management 9,171 11,962 17,456 24,716 Unallocated Items 4,628 617 5,819 809 Eliminations (508) (626) (1,129) (915) Total $ 61,350 $ 61,369 $ 111,491 $ 116,392 Operating profit (loss) Coal Mining $ (4,675) $ 21,175 $ (4,362) $ 28,527 NAMining 2,214 1,257 3,044 2,528 Minerals Management 7,289 13,073 13,333 24,701 Unallocated Items (3,065) (5,952) (8,418) (11,391) Eliminations (13) 130 (33) 262 Total $ 1,750 $ 29,683 $ 3,564 $ 44,627 THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30 JUNE 30 2023 2022 2023 2022 Expenditures for property, plant and equipment and acquisition of mineral interests Coal Mining $ 1,032 $ 6,280 $ 3,718 $ 8,000 NAMining 4,507 6,561 8,930 8,381 Minerals Management 638 116 982 949 Unallocated Items 79 7,312 505 7,588 Total $ 6,256 $ 20,269 $ 14,135 $ 24,918 Depreciation, depletion and amortization Coal Mining $ 4,348 $ 4,388 $ 8,588 $ 8,426 NAMining 1,855 1,493 3,741 2,960 Minerals Management 749 543 1,560 1,121 Unallocated Items 138 64 220 108 Total $ 7,090 $ 6,488 $ 14,109 $ 12,615

Nature of Operations and Basi_3

Nature of Operations and Basis of Presentation (Narrative) (Details) $ in Thousands		3 Months Ended				6 Months Ended
	May 02, 2022 USD ($)	Jun. 30, 2023 USD ($) segment	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) segment	Jun. 30, 2022 USD ($)
Long-term Purchase Commitment [Line Items]
Number of operating segments \| segment						3
Gain on contract termination		$ 0			$ 14,000	$ 0	$ 14,000
Proceeds from the sale of private company equity units						$ 1,153	$ 0
Cash received			$ 2,200
Estimated asset retirement obligation			1,900
Gain on the assumption of third-party asset retirement obligation			$ 300
Caddo Creek
Long-term Purchase Commitment [Line Items]
Membership interest			100%
HLCP Ethanol Holdco, LLC
Long-term Purchase Commitment [Line Items]
Proceeds from the sale of private company equity units				$ 18,600
Proceeds and associated gain from the post-closing purchase price adjustment, as a result of the sale of equity method investment			$ 1,200
Number of contingent earn-out arrangements \| segment		2				2
Earn-out, project term						4 years
HLCP Ethanol Holdco, LLC \| Minimum
Long-term Purchase Commitment [Line Items]
Earn-out payments		$ 0				$ 0
HLCP Ethanol Holdco, LLC \| Maximum
Long-term Purchase Commitment [Line Items]
Earn-out payments		$ 12,900				$ 12,900
Coal Mining \| Falkirk
Long-term Purchase Commitment [Line Items]
Total gain on contract termination					$ 30,900
Gain on contract termination	$ 14,000
Fair value gained from contract termination	4,100
Fair value of privately-held company	12,800
Investment	$ 5,000

Revenue Recognition (Narrative)

Revenue Recognition (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Performance obligations satisfied in prior period, amount recognized	$ 1.4	$ 0	$ 1.4	$ 2.1
Revenue recognized in contract liability	0.2	$ 0.3	0.4	$ 0.5
Contract assets recognized	$ 0		$ 0
Minimum
Disaggregation of Revenue [Line Items]
Primary term of contract			3 years
Maximum
Disaggregation of Revenue [Line Items]
Primary term of contract			5 years
Capital expenditures			$ 50

Revenue Recognition (Disaggrega

Revenue Recognition (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Revenues	$ 61,350	$ 61,369	$ 111,491	$ 116,392
Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	25,729	25,986	45,875	46,359
Services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	$ 35,621	$ 35,383	$ 65,616	$ 70,033

Revenue Recognition (Contract B

Revenue Recognition (Contract Balances) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Trade accounts receivable
Balance, January 1, 2023	$ 409
Balance, June 30, 2023	0
Increase (decrease) in trade accounts receivable	(409)
Contract asset (current)
Increase (decrease) in contract asset (current)	(409)
Contract asset (long-term)
Balance, January 1, 2023	5,985
Balance, June 30, 2023	3,559
Increase (decrease) in contract asset (long-term)	(2,426)
Contract liability (current)
Balance, January 1, 2023	833
Balance, June 30, 2023	1,122
Increase (decrease) in contract liability (current)	289
Contract liability (long-term)
Balance, January 1, 2023	1,709
Balance, June 30, 2023	1,626
Increase (decrease) in contract liability (long-term)	(83)
Trade Accounts Receivable
Trade accounts receivable
Balance, January 1, 2023	37,940
Balance, June 30, 2023	46,047
Increase (decrease) in trade accounts receivable	8,107
Contract asset (current)
Increase (decrease) in contract asset (current)	$ 8,107

Revenue Recognition (Remaining

Revenue Recognition (Remaining Performance Obligations) (Details) $ in Millions	Jun. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized	$ 0.8
Expected timing of satisfaction	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized	$ 1.5
Expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized	$ 0.3
Expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized	$ 0.1
Expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized	$ 0.1
Expected timing of satisfaction	1 year

Inventories (Summary of Invento

Inventories (Summary of Inventory) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Coal	$ 17,555	$ 27,927
Mining supplies	47,655	43,561
Total inventories	$ 65,210	$ 71,488

Inventories (Narrative) (Detail

Inventories (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
Inventories (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventory impairment charge	$ 1.8	$ 4.2

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - 2021 Stock Repurchase Program - USD ($) shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2023	Nov. 10, 2021
Class of Stock [Line Items]
Stock repurchase program, authorized amount		$ 20
Treasury stock, shares acquired (in shares)	0

Fair Value Disclosure (Schedule

Fair Value Disclosure (Schedule of Assets and Liabilities) (Details) - Fair value measurements, recurring - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Equity securities	$ 16,641	$ 15,534
Total assets accounted for at fair value on a recurring basis	16,641	15,534
Significant Other Observable Inputs (Level 2)
Assets:
Equity securities	0	0
Total assets accounted for at fair value on a recurring basis	0	0
Significant Unobservable Inputs (Level 3)
Assets:
Equity securities	0	0
Total assets accounted for at fair value on a recurring basis	0	0
Estimate of Fair Value Measurement
Assets:
Equity securities	16,641	15,534
Total assets accounted for at fair value on a recurring basis	$ 16,641	$ 15,534

Fair Value Disclosure (Narrativ

Fair Value Disclosure (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized gain (loss) on equity securities	$ 421	$ (1,878)	$ 1,049	$ (1,360)
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Fair value measurements, recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized gain (loss) on equity securities	(100)	(400)	(6)	800
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Fair value measurements, recurring \| Bellaire
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized gain (loss) on equity securities	$ 500	(1,500)	$ 1,000	(2,100)
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Reported Value Measurement \| Fair value measurements, recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities cost					$ 2,000
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Reported Value Measurement \| Fair value measurements, recurring \| Bellaire
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities cost					$ 5,000
Significant Other Observable Inputs (Level 2) \| Fair value measurements, nonrecurring \| Mineral Management
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value gained from contract termination		$ 4,100		$ 4,100

Unconsolidated Subsidiaries (Na

Unconsolidated Subsidiaries (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Variable Interest Entity [Line Items]
Income from equity method investee	$ 11,064		$ 11,064		$ 14,927
Variable interest entity, reporting entity involvement, maximum risk of loss	4,200		4,200		7,100
Earnings of unconsolidated operations	11,084	$ 14,622	24,908	$ 29,214
Other noncurrent assets
Variable Interest Entity [Line Items]
Income from equity method investee	$ 11,100		$ 11,100		$ 14,900

Business Segments (Details)

Business Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Business Segments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Revenues	$ 61,350	$ 61,369	$ 111,491	$ 116,392
Operating profit (loss)	1,750	29,683	3,564	44,627
Expenditures for property, plant and equipment and acquisition of mineral interests	6,256	20,269	14,135	24,918
Depreciation, depletion and amortization	7,090	6,488	14,109	12,615
Operating segments \| Coal Mining
Segment Reporting Information [Line Items]
Revenues	26,343	26,602	46,996	47,564
Operating profit (loss)	(4,675)	21,175	(4,362)	28,527
Expenditures for property, plant and equipment and acquisition of mineral interests	1,032	6,280	3,718	8,000
Depreciation, depletion and amortization	4,348	4,388	8,588	8,426
Operating segments \| NAMining
Segment Reporting Information [Line Items]
Revenues	21,716	22,814	42,349	44,218
Operating profit (loss)	2,214	1,257	3,044	2,528
Expenditures for property, plant and equipment and acquisition of mineral interests	4,507	6,561	8,930	8,381
Depreciation, depletion and amortization	1,855	1,493	3,741	2,960
Operating segments \| Minerals Management
Segment Reporting Information [Line Items]
Revenues	9,171	11,962	17,456	24,716
Operating profit (loss)	7,289	13,073	13,333	24,701
Expenditures for property, plant and equipment and acquisition of mineral interests	638	116	982	949
Depreciation, depletion and amortization	749	543	1,560	1,121
Unallocated Items
Segment Reporting Information [Line Items]
Revenues	4,628	617	5,819	809
Operating profit (loss)	(3,065)	(5,952)	(8,418)	(11,391)
Expenditures for property, plant and equipment and acquisition of mineral interests	79	7,312	505	7,588
Depreciation, depletion and amortization	138	64	220	108
Eliminations
Segment Reporting Information [Line Items]
Revenues	(508)	(626)	(1,129)	(915)
Operating profit (loss)	$ (13)	$ 130	$ (33)	$ 262