Schedule I - Condensed Financial Information of the Parent

12 Months Ended

Dec. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Schedule I - Condensed Financial Information of the Parent

Parent Company Condensed Balance Sheets

The condensed balance sheets of NACCO, the parent company, at December 31 are as follows:

	2016		2015
ASSETS
Cash and cash equivalents	$	57,917	$	22,506
Current intercompany accounts receivable, net	—		2,555
Other current assets	2,518		1,241
Investment in subsidiaries
HBB	44,057		51,377
KC	21,394		31,750
NACoal	105,645		108,381
Other	14,463		13,516
	185,559		205,024
Property, plant and equipment, net	935		1,276
Other non-current assets	13,870		8,534
Total Assets	$	260,799	$	241,136
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities	$	7,055	$	6,323
Current intercompany accounts payable, net	1,406		—
Note payable to Bellaire	18,100		18,700
Other non-current liabilities	13,945		14,975
Stockholders’ equity	220,293		201,138
Total Liabilities and Stockholders’ Equity	$	260,799	$	241,136

The credit agreements at NACoal, HBB and KC allow the transfer of assets to NACCO under certain circumstances. The amount of NACCO's investment in NACoal, HBB, KC and NACCO and Other that was restricted at December 31, 2016 totaled approximately $173.1 million. The amount of unrestricted cash available to NACCO included in “Investment in subsidiaries” was $0.4 million at December 31, 2016. Dividends and management fees from its subsidiaries are the primary sources of cash for NACCO.

SCHEDULE I—CONDENSED FINANCIAL INFORMATION OF THE PARENT

NACCO INDUSTRIES, INC. AND SUBSIDIARIES

PARENT COMPANY CONDENSED BALANCE SHEETS

	December 31
	2016		2015
	(In thousands)
ASSETS
Cash and cash equivalents	$	57,917	$	22,506
Current intercompany accounts receivable, net	—		2,555
Other current assets	2,518		1,241
Investment in subsidiaries
HBB	44,057		51,377
KC	21,394		31,750
NACoal	105,645		108,381
Other	14,463		13,516
	185,559		205,024
Property, plant and equipment, net	935		1,276
Other non-current assets	13,870		8,534
Total Assets	$	260,799	$	241,136
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities	$	7,055	$	6,323
Current intercompany accounts payable, net	1,406		—
Note payable to Bellaire	18,100		18,700
Other non-current liabilities	13,945		14,975
Stockholders’ equity	220,293		201,138
Total Liabilities and Stockholders’ Equity	$	260,799	$	241,136

See Notes to Parent Company Condensed Financial Statements.

SCHEDULE I—CONDENSED FINANCIAL INFORMATION OF THE PARENT

NACCO INDUSTRIES, INC. AND SUBSIDIARIES

PARENT COMPANY CONDENSED STATEMENTS OF COMPREHENSIVE INCOME

	Year Ended December 31
	2016			2015			2014
	(In thousands)
(Income) expense:
Intercompany interest expense	$	1,285		$	1,309		$	1,305
Other, net	(332		)	(270		)	(276		)
	953			1,039			1,029
Administrative and general expenses	6,881			3,704			4,862
Loss before income taxes	(7,834		)	(4,743		)	(5,891		)
Income tax benefit	(2,295		)	(1,496		)	(1,764		)
Net loss before equity in earnings of subsidiaries	(5,539		)	(3,247		)	(4,127		)
Equity in earnings of subsidiaries	35,146			25,231			(33,991		)
Net income (loss)	29,607			21,984			(38,118		)
Foreign currency translation adjustment	(2,078		)	(2,756		)	(1,896		)
Deferred gain on available for sale securities, net of tax	413			17			442
Current period cash flow hedging activity, net of $73 tax benefit in 2016, $357 tax benefit in 2015 and $838 tax benefit in 2014	(252		)	(577		)	(1,518		)
Reclassification of hedging activities into earnings, net of $419 tax benefit in 2016, $191 tax benefit in 2015 and $489 tax benefit in 2014	757			409			898
Current period pension and postretirement plan adjustment, net of $1,098 tax benefit in 2016, $1,222 tax benefit in 2015 and $3,292 tax benefit in 2014	(2,011		)	(1,204		)	(6,483		)
Reclassification of pension and postretirement adjustments into earnings, net of $408 tax benefit in 2016, $420 tax benefit in 2015 and $313 tax benefit in 2014	688			856			627
Total other comprehensive loss	(2,483		)	(3,255		)	(7,930		)
Comprehensive Income (loss)	$	27,124		$	18,729		$	(46,048	)

See Notes to Parent Company Condensed Financial Statements.

SCHEDULE I—CONDENSED FINANCIAL INFORMATION OF THE PARENT

NACCO INDUSTRIES, INC. AND SUBSIDIARIES

PARENT COMPANY CONDENSED STATEMENTS OF CASH FLOWS

	Year Ended December 31
	2016			2015			2014
	(In thousands)
Operating Activities
Net income (loss)	$	29,607		$	21,984		$	(38,118	)
Equity in earnings of subsidiaries	35,146			25,231			(33,991		)
Parent company only net loss	(5,539		)	(3,247		)	(4,127		)
Net changes related to operating activities	2,684			(11,015		)	5,710
Net cash provided by (used for) operating activities	(2,855		)	(14,262		)	1,583
Investing Activities
Expenditures for property, plant and equipment	(25		)	(328		)	(103		)
Net cash used for investing activities	(25		)	(328		)	(103		)
Financing Activities
Cash dividends received from subsidiaries	52,200			15,000			22,300
Notes payable to Bellaire	(600		)	—			(1,750		)
Capital contributions to subsidiaries	—			—			(19,800		)
Purchase of treasury shares	(6,044		)	(24,010		)	(35,075		)
Cash dividends paid	(7,262		)	(7,296		)	(7,755		)
Other	(3		)	(13		)	(20		)
Net cash used for financing activities	38,291			(16,319		)	(42,100		)
Cash and cash equivalents
Decrease for the period	35,411			(30,909		)	(40,620		)
Balance at the beginning of the period	22,506			53,415			94,035
Balance at the end of the period	$	57,917		$	22,506		$	53,415

See Notes to Parent Company Condensed Financial Statements.

SCHEDULE I—CONDENSED FINANCIAL INFORMATION OF THE PARENT

NACCO INDUSTRIES, INC. AND SUBSIDIARIES

NOTES TO PARENT COMPANY CONDENSED FINANCIAL STATEMENTS

FOR THE YEAR ENDED DECEMBER 31, 2016, 2015 AND 2014

The notes to Consolidated Financial Statements, incorporated in Item 15 of this Form 10-K, are hereby incorporated by reference into these Notes to Parent Company Condensed Financial Statements.

NOTE A — ACCOUNTING POLICIES

NACCO Industries, Inc. (the parent company or “NACCO”) is a holding company with subsidiaries that operate in three principal industries. In the Parent Company Condensed Financial Statements, NACCO's investment in subsidiaries is stated at cost plus equity in undistributed earnings of subsidiaries since the date of acquisition. NACCO's share of net income of unconsolidated subsidiaries is included in net income using the equity method. Parent Company financial statements should be read in conjunction with the Company's consolidated financial statements.

NOTE B — LONG-TERM OBLIGATIONS AND GUARANTEES

It is NACCO's policy not to guarantee the debt of its subsidiaries.

NOTE C — UNRESTRICTED CASH

The amount of unrestricted cash available to NACCO, included in “Investment in subsidiaries,” was $0.4 million at December 31, 2016 and was in addition to the $57.9 million of cash included in the Parent Company Condensed Balance Sheet at December 31, 2016.