Other Events and Transactions

6 Months Ended

Jun. 30, 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. The transition services are materially complete. NACCO received fees of $0.2 million and $0.4 million in the three and six months ended June 30, 2018, recorded as a reduction to selling, general and administrative expenses.

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 and six months ended June 30, 2017:

	THREE MONTHS ENDED			SIX MONTHS ENDED
	JUNE 30, 2017			JUNE 30, 2017
HBBHC Operating Statement Data:
Revenues	$	152,976		$	293,258
Cost of goods sold	114,145			219,850
Gross profit	38,831			73,408
Operating expenses	36,667			73,682
Operating profit (loss)	2,164			(274		)
Interest expense	462			877
Other income, net	(297		)	(979		)
Income (loss) before income taxes	1,999			(172		)
Income tax expense (benefit)	760			(53		)
HBBHC net income (loss)	$	1,239		$	(119	)
NACCO discontinued operations income tax expense adjustment	1,683			3,567
NACCO discontinued operations	$	(444	)	$	(3,686	)