Other Events and Transactions

3 Months Ended

Mar. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Other Events and Transactions

Other Events and Transactions

HBBHC Spin-Off: On September 29, 2017, the Company spun-off HBBHC, a former wholly owned subsidiary. To complete the spin-off, the Company distributed one share of HBBHC Class A common stock and one share of HBBHC Class B common stock to NACCO stockholders for each share of NACCO Class A common stock or Class B common stock owned. The Company accounted for the spin-off based on the historical carrying value of HBBHC.

In connection with the spin-off of HBBHC, the Company and HBBHC entered into a Transition Services Agreement ("TSA"). Under the terms of the TSA, the Company provides various services to HBBHC on a transitional basis, as needed, for varying periods after the spin-off date. None of the transition services are expected to continue beyond September 29, 2018. NACCO received fees of $0.2 million in the first three months of 2018, recorded as a reduction to selling, general and administrative expenses, and expects to receive net aggregate fees of approximately $1.0 million over the term of the TSA from HBBHC.

As a result of the spin-off, the financial position, results of operations and cash flows of HBBHC are reflected as discontinued operations through the date of the spin-off in the Unaudited Condensed Consolidated Financial Statements. Discontinued operations includes the following results of HBBHC for the three months ended March 31, 2017:

	THREE MONTHS ENDED
	MARCH 31, 2017
HBBHC Operating Statement Data:
Revenues	$	140,282
Cost of goods sold	105,705
Gross profit	34,577
Operating expenses	37,015
Operating loss	(2,438		)
Interest expense	415
Other income, net	(682		)
Loss before income taxes	(2,171		)
Income tax benefit	(814		)
HBBHC net loss	$	(1,357	)
NACCO discontinued operations income tax expense adjustment	1,885
NACCO discontinued operations	$	(3,242	)