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Quarterly Results of Operations (Unaudited)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Results of Operations (Unaudited)
Quarterly Results of Operations (Unaudited)

A summary of the unaudited results of operations for the year ended December 31 is as follows:
 
2016
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Revenues
 
 
 
 
 
 
 
NACoal
$
30,287

 
$
23,089

 
$
32,402

 
$
25,303

HBB
115,740

 
127,054

 
157,264

 
205,112

KC
28,383

 
28,634

 
32,895

 
54,439

Eliminations
(989
)
 
(770
)
 
(1,769
)
 
(636
)
 
$
173,421

 
$
178,007

 
$
220,792

 
$
284,218

Gross profit
$
40,005

 
$
40,529

 
$
51,708

 
$
73,611

Earnings of unconsolidated mines
$
12,648

 
$
13,035

 
$
15,102

 
$
14,453

Operating profit (loss)
 
 
 
 
 
 
 
NACoal (1)(2)
$
9,742

 
$
4,823

 
$
(10,912
)
 
$
1,966

HBB
67

 
4,696

 
14,399

 
23,871

KC
(2,890
)
 
(3,011
)
 
(921
)
 
7,198

NACCO and Other
(1,441
)
 
(1,297
)
 
(1,867
)
 
(2,673
)
Eliminations
(66
)
 
(1
)
 
—

 
32

 
$
5,412

 
$
5,210

 
$
699

 
$
30,394

 
 
 
 
 
 
 
 
NACoal
$
8,253

 
$
3,324

 
$
(12,677
)
 
$
9,344

HBB
(261
)
 
2,934

 
9,511

 
14,373

KC
(1,868
)
 
(1,954
)
 
(717
)
 
4,184

NACCO and Other
(1,067
)
 
(1,118
)
 
(1,526
)
 
(1,105
)
Eliminations
(2,255
)
 
(70
)
 
4,967

 
(2,665
)
Net income (loss)
$
2,802

 
$
3,116

 
$
(442
)
 
$
24,131

 
 
 
 
 
 
 
 
Basic earnings (loss) per share
$
0.41

 
$
0.45

 
$
(0.07
)
 
$
3.56

 
 
 
 
 
 
 
 
Diluted earnings (loss) per share
$
0.41

 
$
0.45

 
$
(0.07
)
 
$
3.53


(1) During the fourth quarter of 2016, NACoal recorded a $3.3 million charge related to the resolution of a legal matter. This charge is recorded on the line "Selling, general and administrative expenses" in the Consolidated Statements of Operations.

(2) During the third quarter of 2016, NACoal recorded a non-cash impairment charge of $17.4 million related to Centennial assets. See Note 3 and Note 10 for further discussion of the Company's asset impairment charge.
The significant increase in gross profit of HBB and KC in the fourth quarter of 2016 compared with the prior quarters of 2016 is primarily due to the seasonal nature of of their businesses.







 
2015
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Revenues
 
 
 
 
 
 
 
NACoal
$
41,319

 
$
37,942

 
$
42,704

 
$
26,033

HBB
123,293

 
129,498

 
163,291

 
204,895

KC
29,967

 
29,782

 
34,708

 
56,531

Eliminations
(845
)
 
(722
)
 
(1,596
)
 
(940
)
 
$
193,734

 
$
196,500

 
$
239,107

 
$
286,519

Gross profit
$
38,189

 
$
35,381

 
$
42,215

 
$
63,711

Earnings of unconsolidated mines
$
12,553

 
$
12,076

 
$
12,234

 
$
11,569

Operating profit (loss)
 
 
 
 
 
 
 
NACoal (1)
$
5,207

 
$
2,382

 
$
(4,010
)
 
$
(3,058
)
HBB
2,188

 
2,880

 
11,643

 
18,090

KC
(3,045
)
 
(2,972
)
 
(843
)
 
7,025

NACCO and Other
(1,289
)
 
(836
)
 
(1,142
)
 
(981
)
Eliminations
180

 
(166
)
 
112

 
462

 
$
3,241

 
$
1,288

 
$
5,760

 
$
21,538

 
 
 
 
 
 
 
 
NACoal
$
4,547

 
$
4,199

 
$
(5,345
)
 
$
2,218

HBB
618

 
1,618

 
6,378

 
11,135

KC
(1,893
)
 
(1,847
)
 
(550
)
 
3,870

NACCO and Other
(1,239
)
 
(697
)
 
(774
)
 
(636
)
Eliminations
(1,006
)
 
(3,548
)
 
3,432

 
1,504

Net income (loss)
$
1,027

 
$
(275
)
 
$
3,141

 
$
18,091

 
 
 
 
 
 
 
 
Basic earnings (loss) per share
$
0.14

 
$
(0.04
)
 
$
0.45

 
$
2.65

 
 
 
 
 
 
 
 
Diluted earnings (loss) per share
$
0.14

 
$
(0.04
)
 
$
0.45

 
$
2.63



(1) During the third quarter of 2015, NACoal recorded a $7.5 million charge related to Centennial's asset retirement obligations. See Note 3 for further information.
The significant increase in gross profit of HBB and KC in the fourth quarter of 2015 compared with the prior quarters of 2015 is primarily due to the seasonal nature of of their businesses.